2021-12-31-accounts - Stella Maris

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	Page
Report ofthe Trustees	I to13
Report ofthe Independent Auditors	14to 16
Statement offinancial Activities	17
Balance Sheet	18
Cash Flow Statement	19
Notes to the Cash Flow Statement	20
Notes to the Financial Statements	21 to 33

			REPORT OF THE TRUSTEES
			FORTHE YEAR ENDED 31 DECEMBER		2021
The following		examples	illustrate our approach:
Restriction			Notes
Sancfily ofkfe			Companies engaged in the prornsion and/or	practice ofabortion, embryo
			research and euthanasia are excluded. Also	excluded are companies		engaged
			in the manufacture ofcontraceptives.
			Companies that fail to comply with International		Labour Organisation	(ILO)
			labour standards are excluded.
Pornography			Companies with over 10%ofturnover resulting		from adult entertainment
			related products and services are excluded.
Pass//	fue/s		Companies engaged in fossil fuel extraction	are	excluded.

						2021	2020
				Unrestricted	Restricted	Total funds	Total funds
				funds	funds
			Notes	F	6
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	1,482,120	538,982	2,021,102	1,653,565
Investment income			3	109,067		109,067	108,655
Other income							143
Total				1,591,187	538,982	2,130,169	1,762,363
EXPENDITURE ON
Raising funds			4	529,728		529,728	424,292
Charitable activities			5
Pastoral care to seafarers				1 548682	499205	2 047 887	1 614869
Total				2,078,410	499,205	2,577,615	2,039,161
Net gams/(losses) on	investments			578 978		578978	189281
NET INCOMEI(EXPENDITURE)				91,755	39,777	131,532	(87,517)
RECONCILIATION OF FUNDS
Total funds brought	forward			4,992,420	182,557	5,174,977	5,262,494
TOTAL FUNDS CARRIED FORWARD				5 084175	222 334	5306509	5174977

STELLA MARIS	STELLA MARIS
(REGISTERED COMPANY NUMBER: 3320318)
	BALANCE SHEET
	AT 31 DECEMBER 2021
		2021	2020
	Notes	8
FIXEDASSETS
Tangible assets	12	90,915	91,871
Investments	13	4 855313	4 311355
		4,946,228	4,403,226
CURRENT ASSETS
Debtors		154,707	379,292
Cash at bank and in hand		303074	495523
		457,781	874,815
CREDITORS
Amounts falling due within one year	15	(97,500)	(103,064)
NET CURRENT ASSETS		380281	771 751
TOTAL ASSETSLESSCURRENT
LIABILITIES		5,306,509	5,174,977
NET ASSETS		5 306509	5174977
FUNDS	16
Unrestricted funds		5,084,175	4,992,420
Restricted funds		222 334	182 557
TOTAL FUNDS		5306 509	5174 977

		FOR THE	YEAR	ENDED 31 DE	CEMBER 2021
					2021	2020
				Notes
Cash flows from operating	activiges;
Cash generated from operations					284 149	~540 8642
Net cash provided by (used activities		in) operating			~284 1492	540 864
Cash flows from investing	activities:
Purchase of tangible fixed assets					(52,387)	(65,213)
Purchase offixed asset investmentt					(655,544)	(902,378)
Sale oftangible fixed assets
Sale offixed asset investments					805,947	1,533,083
Interest received						143
Dividends received					109,067	108,655
Net cash provided by (used		in) investing
activities					207 083	674 290
Change in cash and cash	equivalents		in the
reporting period					(77,066)	133,426
Cash and cash equivalents		at the beginning
ofthe reporting period					495 523	362 097
Cash and cash equivalents		at the end	ofthe
reporting period					418457	495 523

RECONCILIATION OF ACTIVITIES	NET INCOME/(EXPE	NDITURE) TO NET CASH	FI OW FROM OP	ERATING
			2021	2020
			6	f
Net income/(expenditure) forthe reporting		period (as per the
statement of financial	activities)		131,532	(87,517)
Adjustments for:
Depreciation charges			53,343	44,520
Losses/(gain) on investments			(578,978)	(189,28'I)
(Profit)/loss on disposal	of fixed asset			17,414
Interest received				(143)
(Increase)/Decrease in	debtors		224,585	(211,782)
Increase/ (Decrease) in	creditors		(5,564)	(5,420)
Dividends received			~109067	(108655)
Net cash provided by	(used in) operating	activities	~24 14 )	~464)

RAISING FUNDS
							2021	2020
								5
Raising donations and legacies
Staffcosts							187,016	177,592
Other direct costs							143,097	106,794
Support costs							165202	106569
							495,315	390,955
Investment managers fees							34413	33337
							529 728	424 292
CHARITABLE ACTIVITIES COSTS
					Grant		Support
				Direct costs	funding	of	costs	Totals
					activities
					(See note	6)	(See note 7)
					5		F
Pastoral care to seafarers				842 069
GRANTS PAYABLE
							2021	2020
Pastoral care to seafarers							517354	94703
The total grants paid to institutions		during the		year was as	follows:
							2021	2020
							5
Seaham Seafarers Club								1,000
Felixstowe and Haven Ports								750
Humber Seafarers Services								2,000
ITF STGrant paid to AOS Abidjan,		Cdte d'Ivoire						12,051
ITF STGrant paid to AOS Cebu,	Philippines							16,177
TKF Grant paid to AOS Cebu, Philippines								16,387
TKF Grant paid to AOS Charleston,			USA					2,205
TKF Grant paid to AOS Barcelona,		Spain						6,886
TKF Grant paid to AOS Montevideo,			Uruguay					6,704
TKF Grant paid to AOS New Orleans,			USA					14,156
TKFGrant paid to AOS Genoa, Italy								16,387
Mission To Seafarers, Scotland							5,782
Oueen Victoria Seaman's Rest							10,000
AOS Denmark							80,000
AOS Ukraine							11,244
AOS Philippines							12,472
AOS Barcelona							6,086
AOS Chennai							5,000
Educational Trust ofArchdiocese		of	Verapoly				5,000
SFUK Grant paid to AOS Cochin							92,710
SFUK Grant paid to Archdiocese	ofVerapoly						129,143
SFUK Grant paid to AOS Manila							83,300
SFUK Grant paid to AOS South Africa							55,097
SFUK Grant paid to AOS Chennai							21 520
								4 703

SUPPORT COSTS	SUPPORT COSTS													Governance
												Management		costs		Totals
														8
Costs of generating		voluntary		income									165,202			165,202
Pastoral care	to seafarers												501686	21 576		523 262
													666 888	21 576		688464
Basis ofallocation
Wages, social security,			pensions		and	recruitment		and		training			—Staff time,	Establishment	costs —Staff
time, Motor and travel,			administrative			and	professional				fees —Usage
Support costs, included			in the	above,		are	as follows:
Management														2021		2020
							Costs		of
							generating
							voluntary					Pastoral care		Total		Total
								income				to	seafarers	activities		activities
													F	F		8
Staff Costs								120,092					331,511	45'I,603		517,115
Recruitment	and training									450			13,589	14,039		30,593
Establishment	costs							21,911					65,733	87,644		91,126
Motor and travel expenses									1,732				6,783	8,515		6,276
Administrative	expenses								6,408				25,633	32,041		31,249
Professional	fees								14		609		58437	73046		69 169
								165202					501 686	666888		745 528
Governance	costs													2021		2020
														Pastoral care		Total
														to seafarers		activities
Trustees' and board meeting Auditors' remuneration —fee				expenses for statutory			audit							223 8,813		1,273 8,813
Auditors' remuneration			—non	audit fees												4,476
Insurance														6,503		6,494
Sundries														947		2,160
Lega! fees														5090		8629
														21 576		31 845

Net inco	me/(expenditure	) is stated after charging/(crediting):
			2021	2020
			8
Auditors'	remuneration		8,813	8,813
Auditors'	remuneration	—non audit fees		4,476
Depreciation —owned		assets	53,343	44,520
Foreign	exchange losses			2649

		2021	2020
		5	8
Wages	and salaries	1,075,698	1,037,252
Social	security costs	99,783	92,418
Other	pension costs	98834	73 881

The average	monthly num	ber ofemployees	during the year wa	s as follow	s:
					2021	2020
Chaplaincy					22	20
Fundraising					9	8
Support					6	5
					37	33
The number	of employees	whose employee	benefits (excluding	employer	pension costs)	exceeded
F60,000was:
					2021	2020
f60000-8	0000				1	1

2021	Chaplaincy	Fundraising	Support	Total
	E	8	8	F
Salaries and
wages	755,626	212,325	107,747	1,075,698
Social security costs	66,855	21,830	11,098	99,783
Pension costs	68,171	19,580	11,083	98,834
Total	890,652	253,735	129,928	1,274,315
2020	Chaplaincy	Fundraising	Support	Total
		8	F.
Salaries and
wages	716,912	218,531	101,809	1,037,252
Social security costs	58,031	23,651	10,736	92,418
Pension costs	48,389	18,813	6,679	73,881
Total	823,332	260,995	119,224	1,203,551

			Unrestricted	Restricted	Total funds
			funds	funds
INCOME AND ENDOWMENTS		FROM
Donations and legacies			1,397,470	256,095	1,653,565
Investment income			108,655		108,655
Other income			143		143
Tote I			1,506,268	256,095	1,762,363
EXPENDITURE ON
Raising funds			424,292		424,292
Charitable activities
Pastoral care to seafarers			1 412 846	202 020	1614009
Total			1,837,138	202,023	2,039,161
Net gains/(losses) on	investments		189281		180281
NET INCOME/(EXPENDITURE)			(141.589)	54,072	(07,517)
RECONCILIATION OF FUNDS
Total funds brought	forward		5 134009	128485	5262494
TOTAL FUNDS CARRIED FORWARD			4 992420	182 557	5174 977

TANGIBLE FIXEDAS	SETS
		Plant and	Fixtures and	Motor	Computer
		machinery	fittings	vehicles	equipment	Totals
			5	5
COST
At 1 January 2021		11,120		192,930	17,185	221,235
Additions				49,517	2,870	52,387
Disposals
At 31 December 2021		11 120		242 447	20 055	273622
DEPRECIATION
At 1 January 2021		11,120		112,134	6,110	129,364
Charge foryear				48,821	4,522	53,343
Eliminated on disposal
At 31 December 2021		11 120		160955	10632	182707
NET BOOK VALUE
At 31 December 2021				81492	9423	90915
At 31 December 2020				80796	11 075	91 871
FIXEDASSET INVESTMENTS
						Listed
						investments
MARKET VALUE
At 1 January 2021						4,311,355
Additions						655,544
Disposals						(690,564)
Revaluations						578878
At 31 December 2021						4,855,313
NET BOOK VALUE
At 31 December 2021						4 855 333
At 31 December 2020						4,311,355
Analysis of investments	by type:				2021	2020 5
Equities					3,579,622	3,188,139
Fixed interest securities					493,055	511,569
Property funds					242,703	218,175
Other investments					377,945	347,565
Cash held within the investment		portfolio			161988	45 907
					4,855,313	4,311,355

	Geographical analysis	of	investments:
				2021	2020
				6	6
	Held inside the United	Kingdom		1,258,051	1,027,761
	Held outside the United	Kingdom		3597262	3283594
				~48 5 ')	4311355
14.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
				2021	2020
	Other debtors			115,015	335,043
	Prepayments			39692	44 249
				~15
15,	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
				2021	2020
					F
	Trade creditors			32,830	16,138
	Social security and other		taxes	38,719	36,037
	Other creditors			10,000
	Accrued expenses			15951	50 889

ANALY	SIS OF NET ASSETS	BETWEEN FUI4DS
				2021	2020
		Unrestricted	Restricted	Total funds	Total funds
		funds	funds
			6
Fixed assets		34,464	56,451	90,915	91,871
Investments		4,855,313		4,855,313	4,311,355
Current Current	assets liabilities	291,898 ~97 500	165,883	457,781 ~87 51111	874,815 ~1tl3 D64)
		51184175	222 334	5 3D6 509	5 174977

. MOVEMENT IN	FUNDS
											Net
										movement	in
							At		1.1.21	funds		At 31.12.21
Unrestricted funds
Unrestricted							4,992,420			91,755		5,084,175
Restricted funds
Merchant Navy Welfare		Board							82,958	57,052		140,010
Pontifical Council	for the	Promotion of Integral			Human
Development (International			Fund)					75,099		7,225		82,324
Restricted Donations (CEF) Other restdicted grant income									24 5DD	~24 500
								182,557		39,777		222,334
TOTAL FUNDS							5	174977		131	532	5305 509
Net movement in	funds,	included		in the above are		as	follows:
				incoming resources		Resources expended				Gains and losses	Movement in funds
										y
Unrestricted funds
Unrestricted				1,591,187		(2,078,410)				578,978		91,755
Restricted funds
Merchant Navy Welfare Board				88,225			(31,173)					57,052
Other restricted grant	income			399,832			(424,332)					(24,500)
Pontifical Council for	the
Promotion of Integral	Human
Development				7,225								7,225
Restdcted Donations	(CEF)			43,700			43,700
				538,982			(499,205)					39,777
TOTAL FUNDS				2,130,169			2,577,615			578,978		131,532

MOVEMENT IN FUNDS
Comparatives for period	ending 31 December			2020		Net
						movement in
					At 1.1.20	funds	At 31.12.20
Unrestricted funds
Unrestricted					5,134,009	(141,589)	4,992,420
Restricted funds
Merchant Navy Welfare	Board				84,728	(1,770)	82,958
Pontifical Council for the	Promotion of Integral			Human
Development (International		Fund)			43,757	31,342	75,099
Other restricted grant income						24 500	24 500
					128,485	54,072	182,557
TOTAL FUNDS					~262 494	~87 517	5 174977
Net movement in funds,	included		in the above	are as follows:
				Incoming	Resources	Gains and	Movement in
				resources	expended	losses	funds
				8	8	6
Unrestricted funds
Unrestncted				1,506,268	(1,837,138)	189,281	(141,589)
Restricted funds
Merchant Navy Welfare	Board			24,000	(25,770)		('I,770)
Other restricted grant income				156,670	(132,170)		24,500
Pontifical Council for the	Promotion of
Integral Human Development				45,538	(14,196)		31,342
Coronavirus Job Retention		Scheme		29887	~29 887
				256095	~202 023		54072
TOTAL FUNDS				1 762 363	)2,039,161)	189,281	)87,517)