Charity Number: 1080995
N.F.F.O Training Trust Fund Trustees’ Report and Receipts and Payments Accounts for the Year Ended 31 December 2024
N.F.F.O Training Trust Fund
Contents
Page
Charity Information ............................................................................................ 1 Trustees’ Report ........................................................................................... 2 - 3 Independent Examiner’s Report ........................................................................... 4 Unaudited Receipts and Payments Account............................................................ 5 Unaudited Statement of Assets and Liabilities ........................................................ 6
N.F.F.O Training Trust Fund
Charity Information
Legal and administrative information
Nature of governing document and constitution of the charity
The charity is constituted by Deed of Trust dated 25 October 1999 and was registered with the Charities Commission on 2 June 2000.
Charity registration number
1080995
Trustees
The trustees serving during the year and since the year end were as follows:
R M Casson B C Deas A P Delahunty G Hodgson
Structure and governance
The charity is constituted as a charitable trust and is governed by its Trust Deed.
Method of recruitment, appointment or election
The Trust Deed of the charity governs appointment of trustees. The charity shall elect the officers and trustees at the annual general meeting. Each of the officers and the trustees so elected shall retire with effect from the conclusion of the annual meeting next after his or her appointment but shall be eligible for re-election at the following annual general meeting.
Trustees are chosen because of their specialist knowledge of the fishing industry which will be of benefit to the charity. As such, the trustees do not receive training from this Charity.
Investment powers
The charity has the power to make any investment that the trustees see fit.
Principal office
30 Monkgate York YO31 7PF
Bankers
HSBC 55 Victoria Street Grimsby North East Lincolnshire
Independent Examiner
Jessica Lawrence FCA CTA Azets Audit Services Limited 12 King Street Leeds LS1 2HL
1
N.F.F.O Training Trust Fund
Trustees’ Report for the year ended 31 December 2024
The trustees are pleased to present their report together with the accounts of the charity for the year ended 31 December 2024.
Legal and administrative information on page 1 forms part of this report. The accounts comply with the charity's governing document and applicable law.
Objectives of the charity
The objectives of the charity are to promote and provide vocational training and to advance the education of the public in all matters related to the fishing industry.
Activities undertaken by the charity in the furtherance of the objectives are as follows:
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Give support to educational establishments providing education and training.
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To award scholarships, bursaries or maintenance allowances to such persons who are in need of financial assistance.
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To provide such persons with outfits, clothing, books, tools, instruments and other equipment to assist them in their education and training.
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To make grants to enable travel in furtherance of education and training.
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To make grants in the furtherance of the objects as the trustees consider desirable.
The trustees have given due consideration to Charity Commission published guidance on the operation of the public benefit requirement and believe that the provisions stated in the objectives of the charity meet the requirements.
Financial review
The excess of receipts over payments for the year amounted to £87,307 (2023 - £45,725 shortfall) reflecting grant awards. The charity has prepared its accounts under the receipts and payments basis.
The trustees did not receive any remuneration or reimbursement of expenses during the year.
Reserves policy
The unrestricted cash reserve amounted to £227,240 as at 31 December 2024 (2023 - £139,933).
The trustees aim to maintain cash reserves at a level which will provide sufficient funds to respond to applications for grants and to cover support and governance costs. Should cash reserves fall to a level where liabilities cannot be met, these will be paid by either N.F.F.O. Services Limited or The National Federation of Fishermen's Organisation Limited.
Achievements and performance
Grants are made to The National Federation of Fishermen's Organisation Limited's member organisations for purposes consistent with the Training Trust's objects.
2
N.F.F.O Training Trust Fund
Trustees’ Report for the year ended 31 December 2024 (continued)
Public benefit
The trustees have reviewed the outcomes and achievements of the charity's objectives and activities for the year to ensure they remain focused on the charitable aims and continue to deliver benefits to the public. They have complied with the duty under the Charities Act 2011 to have due regard to public benefit guidance as published by the Charities Commission.
Grant-making policy
Historically, grants made by the Charity are in relation to donations received from N.F.F.O. Services Limited. During the year, member groups and producer organisations can make applications for a percentage of the total grant available. Their proportion is calculated on the actual percentage of the total of subscriptions they have paid to The National Federation of Fishermen's Organisation Limited as at the last day of the year of donation. The grants must be for training and/or safety equipment for member fishermen. Grants are authorised by the trustees. The Board of N.F.F.O. Services Limited decided to make a donation of £100,000 to the charity during the year. This payment was received on 14 June 2024.
Related parties
N.F.F.O. Services Limited is a private limited company, of which A P Delahunty, trustee, is a director. N.F.F.O Services Limited has made donations to the charity in the current and previous years for the purpose of promoting the charity's objectives.
The National Federation of Fishermen's Organisation Limited is a private company limited by guarantee, of which R M Casson and A P Delahunty, trustees, are directors. The charity makes grants to the company's member organisations in line with the charity's objectives. Also, The National Federation of Fishermen's Organisation Limited has provided the charity with financial assistance through donations in prior years.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the receipts and payments accounts in accordance with the Charities Act 2011.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the charity, and which enable them to ensure that the accounts are prepared in accordance with relevant legislation. The trustees are also responsible for taking steps that are reasonably open to them in order to safeguard the assets of the charity and prevent and detect fraud and other irregularities.
Charity legislation requires the trustees to prepare receipts and payments accounts for each financial period which show the state of affairs of the charity as at the end of each financial period and of the surplus or deficit for that period.
Signed on behalf of the trustees
Barrie Deas
…………………………. Mr B C Deas
A P Delahunty …………………………. Mr A P Delahunty
06/11/2025 Date ………………………….
3
N.F.F.O Training Trust Fund
Independent Examiner’s Report to the Board of Trustees of N.F.F.O Training Trust Fund on the unaudited receipts and payments accounts for the year ended 31 December 2024
I report to the trustees on my examination of the receipts and payments accounts of N.F.F.O Training Trust Fund ('the charity') for the year ended 31 December 2024.
This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my independent examination work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a 'true and fair view' and my report is limited to those specific matters set out in the independent examiner's statement.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jessica Lawrence
……………………………………… Jessica Lawrence FCA CTA Azets Audit Services Limited Chartered Accountants
12/11/2025
………………………………….
12 King Street Leeds
LS1 2HL
4
N.F.F.O Training Trust Fund
Unaudited receipts and payments accounts for the year ended 31 December 2024
| Unrestricted | funds | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Receipts | ||
| Donations received | 100,000 | - |
| Bank interest received | 3,595 | 2,573 |
| Total receipts | 103,595 | 2,573 |
| Payments | ||
| Other charitable activities | 12,898 | 46,552 |
| Accountancy charges | 3,390 | 1,746 |
| Total payments | 16,288 | 48,298 |
| (Deficit)/Surplus of receipts over payments | 87,307 | (45,725) |
| Bank and cash | ||
| At 1 January 2024 | 139,933 | 185,658 |
| At 31 December 2024 | 227,240 | 139,933 |
5
N.F.F.O Training Trust Fund
Unaudited statement of assets and liabilities for the year ended 31 December 2024
| Unrestricted | funds | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Cash funds | ||
| Bank deposit account | 227,145 | 139,846 |
| Bank current accounts | 95 | 87 |
| 227,240 | 139,933 | |
| Other monetary assets | ||
| Otherdebtors | - | 32,119 |
| Liabilities | ||
| Other creditors | 2,000 | 2,000 |
06/11/2025
Approved by the Board of Trustees on ………………………… and signed on its behalf by:
…………………………. Barrie Deas …………………………. A P Delahunty Mr B C Deas Mr A P Delahunty
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N.F.F.O Training Trust Fund
Trustees’ information for the year ended 31 December 2024
Expenditure on charitable activities
Expenditure of £12,898 was undertaken on charitable activities relating to Eastern England FPO.
Taxation
The charity is exempt from Corporation Tax under section 478(1) CTA 2010 as an approved charity.
| Debtors | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Advance payments | - | 32,119 |
| Creditors | 2024 | 2023 |
| £ | £ | |
| Accountancy | 2,000 | 2,000 |
| Reserves | Total | Funds |
| 2024 | 2023 | |
| £ | £ | |
| Cash funds | 227,240 |
139,933 |
| Other monetary assets | - |
32,119 |
| Liabilities | (2,000) |
(2,000) |
| 225,240 | 170,052 |
JL/SG/NFF002/ID6877005
The Board of Trustees 30 Monkgate York YO31 7PF
Dear Trustees
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 31 December 2024. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
General
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You acknowledge that the work performed by ourselves is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that we do not express an audit opinion.
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You confirm that the charitable company qualifies as small in accordance with the conditions set out in chapter 1 of part 15 of the Companies Act 2006.
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You confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 December 2024 audited.
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You have fulfilled your responsibilities as trustees as set out in the terms of your engagement letter dated 22 August 2025, under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
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You confirm that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
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You confirm that all the accounting records have been made available to you for the purpose of your independent examination. You have provided us with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission.
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Assets and liabilities
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You confirm that the charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
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You confirm that all actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
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You have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
Accounting estimates
- Significant assumptions used by you in making accounting estimates, including those measured at fair value, are reasonable.
Loans and arrangements
- The charitable company has not granted any advances or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statements.
Legal claims
- You have disclosed to us all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for, and disclosed in, the financial statements.
Laws and regulations
- You have disclosed to us all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
Related parties
- Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. You have disclosed to us all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
Subsequent events
- All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
Going concern
- You believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. You have considered a period of twelve months from the date of approval of the financial statements. You believe that no further disclosures relating to the charity’s ability to continue as a going concern need to be made in the financial statements.
Grants and donations
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All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to us. There have been no breaches of terms or conditions in the application of such income.
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You confirmed that, at the balance sheet date, there are no grant commitments outstanding.
Yours faithfully
Azets Audit Services Limited
Azets Audit Services Limited
We confirm that the above representations are made on the basis of enquiries of trustees, management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation, sufficient to satisfy ourselves that we can properly make each of the above representations to you.
We confirm that we have read and understood the contents of this letter and agree that it accurately reflects the representations made to you by the trustees during the course of the independent examination.
Barrie Deas
................................................... Trustee
06/11/2025 ................................................... Date