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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|
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||||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.||
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|||||||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|
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|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|
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|||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|
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|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)|
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|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|
##
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|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|
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##
|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|
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|||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|
##
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||||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|
##
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||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|
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|.
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|
##
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|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)|
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