2023-03-31-accounts

Charlty Registration No. 1102946 Company Registration No. 3171109 (England and Walos) ISWAN INTERNATIONAL SEAFARERS. WELFARE and ASSISTANCE NETWORK REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN CONTENTS Page Report of the Trustees Indapgndent Audltor's Roport 11 Consolidated Statement of Financlal A¢tivities 14 Consolidated Balance Sheet 15 Charlty Balance Shoet 16 Consolldated Statement of Cash Flows 17 Notos to the Financial Statoments 18

INTERNATIONAL SEAFARERS, WELFARE ANO ASSISTANCE NEfwoRK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN REPORT OF THE TRUSTEES The trustees are pleased lo present their annual trustees, report together with the financial ststemenls of the charity for the year ending 31 March 2023 which are also prepared to meet the requirements for directors, report and accounts for Companies Act purposes. The financial slalements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in aCWrdan￿.W1lh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 leffeclive 1 st January 2019). OBJECTIVES AND ACTIVITIES Public Benefit The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have regard lo the Public Benefit guidance issued by the Charity Commission. The compliance is identrfied throughout thi9 report in the description of the aGtsvilies undertaken. Charlty Obj•cts & Significant Actlvltlas Undertaken Sn Relation to Objècts The Objects adopted in the Artides are as follows: 1. To promote the relief of need, hardship or dislres$ among51 seafarers of all r￿tionalItieS, races, colours and creeds and their families and dependanls. 2. To promote and preserve the health and Safety of all seafarers and Ihe relief of s￿k, ill and disabled seafarers. 3. To promote the provision in the interests of social welfare of facilitie5 at sea or serving international ports for recreation or other leisure lime occupation for all seafarers who are in need by rea50n of their youth. age, infirmity or disablement, poverty or social and economic circum5tsnces with the object of improving their conditions of Itfe. The ISWAN Board of Trustees agreed new strategic objects for 2021-24. The organisat￿nal goals are to.. 1. Improve our processes and make better use of technology lo meet the changing needs of seafarers 2. Develop timely responses lo the most prevalent issues idenlrfied through h8lplines, regions and our membership to educate the sector and influence change 3. Raise the profile and position of ISWAN as a respected catalyst for delivering change lo improve the lives of seafarers and their families 4. Develop a truty international organisation that is financially and operationally suslainable ISWAN works broadly in tsvo ways: Supporbng Seafarers las a SeN1￿ provider & connector) Direct support to seafarers and their families Coordination and leverage of resources Providing crisis relief funds Developing health and wellbeing resources Working with Stakeholders las an educator & influencer) Being a collaborative partner and coordinator Research into issues affecting seafarers Connecting sector agencies Providlng intelligence on global seafarer issues Improving the delivery of weWare to seafarers

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN ACTIVITIES & ACHIEVEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Contgxt The maritime world emerged from the shadow of the pandemic only lo be rocked by the war in Ukraine. Ukraine and Russia be￿een them provide 15YD of the world's seafarers so the impact of the confli¢l was signrficanl. Seafarers caught up in the confiicl faced yel more hardship, not least Ukrainian seafarers slrandeé at sea whilst their families were in danger or confined in their country and unable to go lo sea lo earn their livelihood. ISWAN was asked by the Seafarers, International Relief Fund lo sel up and deliver a crisis fijnd for seafarers affected by the confiicl. a task we were glad lo undertake. Working with our partners Stella Maris and the Maritime TransF￿rt Workers Trade Union of Ukraine we were able to provide financial support to over 612 seafarers. Elsewhere, ISWAN has been supporting seafarers to contend with the challenges of lrfe al sea. 1115 easing to note that. primarily due lo the pandemic, there is now a greater recognition of the importance of good mental health and wellbeing for seafarers. This has ￿sUIted in InC￿aSed interest in our helpline5 and Maritime Mental Heatth Awareness training. 11 Is aIso very encouraging that our funders have continued their 5UPPOrt for SeafarerHelp. Their support is uucial and we are extremely grateful for their belief In us. ISWAN has responded positively to the demands upon all ils services and the entsre staff team has worked exceedingly hard during the year. The addition of tsvo new key posts has allowed us lo make progress in areas where we have previously struggled. The year has also seen signlficanl change for ISWAN Itse￿ with a new Chair, the delivery of the new strategy and a review of all activities and processes. It is pleasing to note that our work has been acknowledged with a number of awards during the year including 'Excellence in Seafarers, Welfare, al the 2023 ShipTek Awards in Dubai, Welfare and Social Responsibility Award at Crewconnecl Global Industy Awards and the BIC Award (Bureau Intemational des Conlsinersl during Naples Shipping Week. SeafarorHelp SeafarerHelp is ISWAN'S core service- a free, confidential, multi-lingual helpline for seafarers and their families operating 24 hours per (lay. 365 days per year. Demand for the Servi￿ remains double what it was before the pandemic and has only recenlly shown signs of reducing. This 15 partly due lo the ongoing impact of COVID-19 and the conflict in Ukraine but also because the reputation of the service has grown. It has provided an invaluable and highly praised service over the past year, the main concerns of seafarers being.. Financial difficulties Healthlmedical - physitAI and psychologic81 problems including stress and anxiety Information requests- Seafarer Cenlres The impact of working in areas affected by war or piracy attacks During the period 1 April 2022 10 31 March 2023 the SeafarerHdp service dealt with 5.524 cases (initial contacts} involving 13,122 seafarers and handled 6,604 successive contacts. The total number of contacts made for SeafarerHelp was 12,128. ISWAN regained its Helplines Partnership accredltation which serves as an important quality standard. We are extremely grateful lo The Seafarers, Charity. TK Foundation and the ITF Seafarers, Trust for their generous support of the SeafarerHelp Se￿1￿ during this year. Seafarer Asslstan¢e During the year, three further helplines for shipping companies w8fft establish@d under the Seafarer Assistance banner. This is an indication that th8 industry recognises the importance of mentsl health amongst seafarers and is seeking solution5. This is also an important slep forward for the charity as il looks to increase the level of Comme￿ial activity to help fund ils overall costs.

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN Y&ht Crow Help This was the second full year of operation for Yacht Crew Help, a free, confidential, multilingual helpline for yacht crew operating 24171365. Despite the many benefits of working on board a superyacht. the hallenges of working away from home for long periods and living in close quarters with colleagues in a hi-pressure environment can become overwhelming. Demand for the service is growing steadily, leading to a greater understanding of the specrfSc challenges faced by crew in this industry. Over the past year. the main issues raised to Yacht Crew Help were.. Health - psychologic81 difficultie5 Seeking employment Unpaid wageslsalary Abuse, bullying. harassment and discrimination During the period 1 April 2022 to 31 March 2023 the Yachl Crew Help service dealt with 292 cases linib'81 contacts) involving 369 seafarers and handled 472 successive contacts. The total number of contacts made for Yacht Crew Help was 764. Intwnational activiti•s The ISWAN regional programme conclud8d in 2021 after three years of successfully buildlng our presence internationally but primarily in India and the Philippines. Thanks lo continued support from the Trafigura Foundation, we have been able lo further these aclivilies. We have recruited a number of 'ambassadors' in countries where we do not have a presence lo provide a point of contact, promote our services and provide expertise on the local conlexl. During this period, the network of support including partnerships with welfare organisalions, shipping companies, crewing agencies, unions, hospitals, and government departments has be8n developed and strengthened. The international team now provides practical humanitarian support to seafarers and theirfamilies facing a range of traumatic events. working with partners on advocacy and building various weware iniliab'v8s. The team supported 7.097 seafarers and their families during the year with praclul support including financial, counselling ar￿ humanitarian support. Highlights and achiev8ments'. a. Ten presentations were carried out al various maritime training colleges in India and Bangladesh delivering ISWAN'S Seafarers EdUCat￿n Aw8reness Session, this reached out lo over 1,200 young cadets and ratings aspiring lo join the shipping sector. We received good feedback on the contents of the presentation. b. Neady 100 presentations were delivered in the Philippines reaching nearfy 6,500 seafarers rough online l offline mode on ISWAN'S SEAS presentation as part of their pre-departure preparation organised by shipping companies. c. The team in India also handled extremely difficult and sensitive cases conrerning neady 600 seafarers who reported that they have not been paid wages or were abandoned al sea. Unfortunately, the team also had lo deal with 23 cas8s where seafarers were missing or died at sea., their families were extended emotional support and practical guidance during this ￿rf[￿ll period. d. ISWAN in India signed an MOU with Gujarat Maritime University IGMUI on a joint research project on the issue of fraudulent crewing agents in India and the impact they have on aspiring seafarers. e. ISWAN in India has also signed MOU with MANSA. an association of ship agents in India lo promote the welfare of sèafarers in Indian wrts.

INTERNATIONAL SEAFARERS. WELFARE ANO ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN f. Neady 180 Indian seafarers who were affected due to fraudulent erewing agent issues had approached the regional office and were guided on the best pracb'ces to follow as part of the ongoing c. g. To further the "Karap8lan.' Sama-sarnang Ingatan," an infomiation campaign warning seafarers of the activities of ambJlance chasing lawyers, the Philippines team together with the ampaign's conveners conducted a round table discussion with licensed manning agencies and maritime unions to discuss the way forward and work together on the ￿mPaign. h. The team in the Philippines participated in 56 events across the year including the Crew Connect conference in Nov 2022 and the Day of the Seafarer celebrations in June 2022. The Indian team parttcipaled in more than 100 meeting and events across the year induding exploring with various partners to expand the ne￿Ork of ISWAN in various countries. The team has now appointed ambassadors and volunteers in the Netherlands, Iran. Bangladesh and Pakistan lo help the tharily promote its activities in the regions. Méntal Wollbeing The Maritime Mental Health Awareness Training is now established as a significant ISWAN service. The trainirvJ consists of three modules. designed by Dr Pennie Blackburn 8 Consu118nt Clinical Psyehologisl. From April 2D22 to end of March 2023, trainers located in the UK. the Philippines and China delivered 57 online courses. The courses are well-received, gaining excellent feedback from attendees whilst shipping and ship management companies continue to approach ISWAN to deliver lo both their shore side arKI seagoing staff. The initial thw phases of the Social Inleraclion Matters ISIMI Project completed in November 2022 with the ISWAN seminar litlee 'The importance of social inleraclion for seafarers, wellbeing,, held in Rotterdam, Netherlands. Prior to this, the final report, guidance, and recommendations were published in June 2022 and supported with an ongoing marketing and dissemination campaign. During the period December 2022 - MarGh 2023, the team was engaged with the development of the next stage of the project - evaluating and 9xpanding the guidance and recommendations lo establish as a long-lerm, accessible educational resource for the maritime sector. At the time of writing, this next stage is being planned for autumn 2023. Emergency Funds ISWAN has continued to provide a number of drfferent emergency fiJrKls for seafarers, thg most significant being the se￿aref$ Emergency Fund (SEF} which is available to provide immodiate, essential aid lo seafarers and families of seafarers. who are diwlly involved in sudden or unforeseen crises. The fund covers expenses such as psychological counselling, medical bills, repatriation and a number of other unexpected costs. It has provlded a lifeline for seafarers who find themselves in a crisis. During the year, the fund paid out a total of $35,128 in 15 grants. A further 14 applications were turned down mainly as they did not meet the criteria. Grants were used lo pay for medical Irealments, critical illnesses, renewal of seagoing documents. medications, counselling. house restoration. supporting abandoned seafarers and funeral costs. The Maritim8 Piracy Humanltarian Relief Fund IMPHRFI made $8.0￿ grants in 2022-23. The Ukraine Crisis Support Fund awarded grants lo more than 600 seafarers and their families to the lune of $307,000. Memborship ISWAN gained 22 rnembers during the year bringlng the total to 78. Thanks lo the Trafigura Foundation. we were able lo recruit a Business Development Manager," thi5 ha5 enabled us lo cary out a thorough review of membership lo better understsnd the noeds and expectations of members. During the ¢ourse

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NE7WORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15WAN of this review, it becam8 clear that some members have become inactive or ceased paying subscriptions so thes8 were removed from the register whilst others have been inspired to reengage with ISWAN. This process has provided us with a more precise count of active members. We are committed to upholding transparency and enhancing the efficiency of our membership system. It is a strategic goal to increase the number of members land thereby subscriptions) so there is now a major push lo recruit suitable members in the coming years that will not only expand ISWAN'S neiwork, bul also contribute to furthering awareness of ils important services. helping to build on its reputation to elevate ils profile. Pollcy & Resèarch During the year, we were able lo recruit a new Policy & Research Adviser thanks to the Trafigura Foundation. This has enabled us lo make better use of the data we collect through our helplines to inform the development of services and engage with our mernbers on the welfare issues facing the sector. Communlcations The development of a communications strategy has enabled clearer, more coherent external communutions and a consislenl presence on soclal media channels. The ISWAN for Seafarers app was launched in conjunction with The Shipowners, Club in June 2021 and has been downloaded over 700 limes in the year. Once downloaded, the app provides a direct line lo SSWAN'S helplines and allows seafarers to access ISWAN resources wilhoul further connection to the internel. LOOKING FORWARD ISWAN is now in the second year of its new Ihree-year strategy. which has 2 strong emphasis on future sustainability. During the year, SeafarerHelp received a signfficant boost when three fundets ITK Foundation, The Seafarers, Charity & ITF Seafarèrs, Trus1} agreed lo fund the service for 2 fijrther thre&year period IFY 2023-24 to FY 2025-26). This is sèen as an endorsement and a recognition of the value of the service. Moving f0Th￿rd, we aim lo enhance our membership count accuracy through the implementation of a slandardised billing prO￿sS for all members. This improvement will streamline record keeping and ensure a more preGise representation of our active rnembers. The SIM Project has demonstrated the Importan￿ of social interaction for seafarer mental health o board vessels and will now be established as a long-lerrY7 initiative to promote change and educate the sector about this underrepre5enled area of seafarer welfare. We have recently received funding from Lloyds Register Foundation to continue developing our collection and analysis of helpline data. It is dear that life is not going lo gel any easier for seafarers in the coming years and a lack of shore leave and shorter turnaround limes in ports rnean that traditional ways of éelivering support lo seafaTers will have lo be adapted. With its strong IT infraslruclure and international team. ISWAN is well placed to meet these challenges. FINANCIAL REVIEW Rgserves Pollcy The Board of Trustee5 regularly reviews the levels of ISWAN'S reserves, lo enable them lo comply with their legal duties, on an ongoing basis. and especially when considering financial forecasts for the ft)Ilowing year. The matters Gonsidered include the nature of the income anij expenditure streams, the need lo match variable income with fixed commilm8nts, the likelihood of unforeseen emergencies and operating costs, and the nature of the reserves. 11 has been concluded that to provide finanGial r8silience and lo allow the charity to be managed effectively and provide uninlerrupled services. a general reserve up lo 6 months operating cost should be maintained. This minimum has been reviewed taking into account Charity Commission guKlance.

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15WAN The reseNes of the SeafarerHelp activity continue lo be held specrflcally for that activity but are taken together with the ISWAN unreslricled reserves lo determine whethef the pollcy has been mel. Al 31 March 2023 the unrestricted reserves amounted to £354,348 and the restricted reserves were £359,257. The reserves held therefore provide adequate cover for budgeted 2023124 activity. Funding received for other specrfic purpose5, includiro the international aclivSties and emergency funds, are Ireated as restricted funds. with expenditure only incurred as funding permits, and any residue is carried forward as agreed with the funders. These reslricled funds and their anlicipaled expenditure over the next year are not taken into account in determining the financial resi5ience of ISWAN. Funds Funding received for other specffic purposes. including project funds, Ukraine Crisis Support Fund, Typhoon Grant Philippines, and ils emergency fvnds, are Irealed as reslricled funds, with any residue accorded the same status. Brlef ovgrvlew of ISWAN'S Flnancial Posltlon at 31 March 2023 The full financial stslemenls for the year ended 31 March 2023 are sel out on pages 15 10 29 of this report. At the end of the year ISWAN funds lotalled £713,605. Of this £359.257 musl be used for specrfic projeels. Details of these projects and fund balances are shown in note 14. Unrestricted funds available lo use al the discretion of the Trustees were £354,348 at the end of the year. ISWAN received £70,032 12021122- £93,105 ) from ils members in the form of subscriptions. A total of £37,598 was deferred to next year. The decrease in the level is due lo the review of income recognition, cut off and unpaid subs¢riplions would no longer be counted as member or debtor. Grant income of £927,224 was received during the year {2022123-£ 881,005}. Full details of the projects and emergency funds supported are shown in Note 3. The Seafarers Charity awarded a lolal of £471,434 {across 3 funds). The TK Foundation awarded a total of £121.060. ITF Seaf8rers' Trust awarded £112.000. the Trafigura Foundation, awarded a total of £160.000 and Trinity House awarded £4.000. ISWAN was also grateful lo receive sponsorship for its events and projects. Mental health awareness training raised income of £70,756. A donation was received from Seaspan Corporation of £41,080 for the SIM project. Income of £222.139 wa9 generated from the trading activities of Seafarers Welfare and Assistance Nehvork Limited. Incom8 from royalties. fflaterial sales, donations and bank interest brought the total income lo £1,348,54212022123 £ 1,297.2991 Total expenditure for the year was £1,407.074 {2022123 £1,150,452) and is analysed in note 4. Th¢s shows an increase from last year due lo an increase in information technology costs, an in person seminar and members, meeting, 2 new posts and the writing off of bad and doubtful debts. Investment PoliGy The investment policy is as follows.. The assets of ISWAN fflust be invested in cash or cash equivalents {fto equities) wthin the provisions of the Trustees Act 2000. ISWAN aims lo oblairi the maximum yield possible commensurate with the level of access necessary to undertake the activity for wh￿h the funds have been allocated. Direct investments in derivatives are not permitted in any circumstances. There are no ethiGal or geographical restrictions with regard lo inveslrnenl. STRUCTURE, GOVERNANCE & MANAGEMENT Natur¢ of Governing Document & Constitutlon ISWAN is govemed by the provisions contained in ils Memorandum and Articles of Association as approved by the Charity Commission on award of charitable status on 31 March 2004 and revised on 11 September 2019. ISWAN is also registered as a company limited by guarantee (established June

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15WAN 19961 with no Sha￿ capital. Each member has undertaken to contribute to the assets of the company in the event of the same being wound up while he or she is a member, or within one year of ceasing lo be a member, for payment of debts and liabilities of the company contracted before he or she ceases to be a tnember, and of th& costs, charges and expenses of winding up, and for the adjustment of the rights of conlribulors amongst themselves. such amount as may be required not ex￿edIrng £10. Recruitment and Appointment of Trustee5 Trustees (also known as Directors) are appointed by the existing Trustees. The Chair is elecle(I by the Trustees. Trustees serve for up lo Ihree terms from the dale of his or her appoinlmenl. A retiring Trustee shall be eligible for re-appoinlmenl for consecutive periods not exceeding in aggregate nine year5. Trustee shall [￿l be eligible for re-appoinlmenl until one year after his reliremenl. Unless in exceptional circumstances, and unanimoLJsly approved by other Trustees al a meeting or by written resolution, a Trustee may be re-appointed for a term exceeding the maximum aggregate period of 9 years. Policiès & Procedures for Induction and Tfalnlng of Trustees All Trustees are given a handbook about ISWAN, which includes a copy of relevant Charity Commission publications. New Trustees are gwen the opportunity of visiting the ISWAN office for a full brief on the detailed operation of the charity and the role of Trustees. Organisatlonal Structure & Dec18ion Maklng Proce8S ISWAN can draw its membefship from any organisalion interested in furthering the objects of the Charity, subject lo the approval of the Trustees. The Trustees are drawn from a eross section of member organisatsons or with appropriate external experience, and meet three lo four times per year. A meeting of the fvll membership occurs annually to review overall progress of the charity. The Trustees exert full deci5i9n-making and management responsibility, endeavouring to direct the charity in accordance with the objects and with rnembers. wishes. Daily operation of ISWAN is delegated by the Trustees to the Chief Executive, who also acts as Company Secretary. ISWAN member organisations pay an annual subscription based on whether they are businesses or charities. Seafarers are not chgrged for any product or service provided by ISWAN. Non-members lorganisations and members of th8 general publicl have access to ISWAN products and services. whith are placed in the public domain. fre8 of copyright. R•lated Parties and Wlder Notwork5 ISWAN seeks to futfil its objectives through communication, cooperation and c¢)ordinalion of activities across ils membership and the wider maritime industry. including legislative bodies, trade associations and other agencies with an interest in the care of Seafa￿rs. The charity maintains a close working relationship with the maritime se¢lion of the International Labour Organisation. One of the key functions of ISWAN is communication, as part of which, the charity maintains an extensive nefftrk of contacts, working with other umbrella organisalions and other agencies, lo facilitate and enhance communication throughout the seafarers. welfare sector, both within and outside the maritime industry. Risk Management The Trustees accept that the management of risk is their uttimate responsibility- A detailed analysis of risk is reviewed and updated regularly. The Trustees beI￿ve that continuing to raise and increase income levels in support of its charitable activities is the principal financial risk. A key element of the managomenl of this risk is the regular review of available liquid funds 2nd re￿Ivable grant income. Budgeted expenditure is also reviewed against actual expenditure on a regular basi5. The Trustees have satisfied themselves that, in so far as il is practical. procedures are in place to minimise financial risk and the other identified risks such as safeguarding and reputation.

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN REFERENCE AND ADMINISTRATIVE DEfAILS Regi5terod Namè and Numbers International Seafarers, We￿are and Assistance Ne￿ork, {'ISWAN'} Gompany Registration Number 3171109 (England and Wales) Charity Registration Numbv 1102946 Princlpal & Reglstered Office Address Suftolk House George Street Croydon CRO 1PE United Kingdom Dlrectors and Trustees The following Trustees served during the accounting period, or have been appointed or resigned slnce: Mr Rene Anderson Mr John Canias Mr Mike Esplago Mrs Sue Henney Mrs Karin Ors81 Mr Michael Pinto Mrs Connie Roozen Mr Deepak Shetty Mr Andrew Winbow Mrs Karen Waltham Mr Jason Zuidema Management Chief Executive and Company Secretary Mr Simon Grainge Other sonior staff Helpline Team Manager Project Manager Finance Manager Business Development Manager Mr Chester Quintsl Ms Georgia Allen Mrs Wendy Cheung FCCA Mr Alan Croft Relevant Organisations Auditors- Moore Kingston Smith LLP. 9 Appold Street. London, EC2A 2AP Banks.. Unity Trust Bank, Nine Brindley Place, Bimingham. B12HB HSBC Bank plc, The Peak. 333Vauxhall Bridge Road. London, SW1 V 1 EJ Sanlander UK Plc, 2 Triton Square, Règ6nVs Place. London, NW1 3AN

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are responsible for preparing the annual report and the finanaal statements in a￿Ordance with applicable law and United Kingdom Generally Accepted Accounting pract￿. The Trustees are required by law to prepare financial statements for each financial year, which give a true and fair view of the stale of affairs of the company ané of its results for that period. In preparing those financial slalemenls, the Trustees are required lo.. Select suitable accounting policies and then apply them consistenuy,. Observe the methods and principles in the Charities SORP., ake judgements and estimates that are reasonable and prudent-, - Stsie whether applicable accountsng standards have been followed, subject lo any material departures disclosed and explained in Ihe financial statements.. Prepare the financial slalements on the going concern basis unless il is illappropriale to presume that the charitable company will continue in business. The Board of Trustees is responsible for keeping proper accounting r8cords which disd05e with reasonable accuracy al any time the financial position of the charitable Company and lo ensure that the financial slalemenls comply with the Companies Act 2006. 11 is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsiblefor the maintenance and integrity of the corporate and financial information induded on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial slalemenls may drffer from legislation in other jurisdictions. The ffnancial ststemenls have been prepared in accordan￿ with the special provisions of part 15 of the Companies Act 2006 relating lo small companies. Auditors The board have agreed lo appoint Moore King51on Smith as auditors for the present financial year. y order of the Board of Trustees Karin O Trustee Date.- 19th September 2023

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN Independent Audltorfs Report to the members of International Seafarers. Welfaro and A55iStance Nètwork Opinion We have audited the fir¢ancial statements of Intemational Seafarers, Welfare and Assistance Ne￿Ork (the 'company'l for the year ended 31 March 2023 which comprise the Group Statement of Financial Aclivilies, the Group and Parent Charitsble Company Balance Sheets, the Group Cash Flow Statement and notes lo the financial stalemenls, including a summary of significant accounliru policles. The financial reporting framework that has been applied in their preparation is applicable law and Unite Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accountsng Practic8}. In our opinion the financial slalemenls.. give a truo and fair view of the slate of the group's and the parent charitable company's affairs as al 31 March 2023 and of the group's incoming resources and applI￿lE0n of resources. including ils income and expenditure. for the year then ended., have been properly prepared in a￿rdance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basis for oplnion We conducted our audit in accordance with International Standards on Auditing (UK} IISASIUK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of the financial statement5 se¢lion of our report. We are independent of the charitable company in accordance with the ethical requirements that are rèlevant lo our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fijffilled our other ethical responsibilities in accordance with these requiremen15. We believe that the audit evidence we have obtained is sufficient and 8ppropriate to provide a basis for our opinion. ConGlusions relating to going Goncgm In auditing the financial slalemenls, we have concluded that the trustees, use of the going concern basis of ac¢ounling in the preparation of the financial statements is appropriate. Based on the work we have ￿rfor1￿ed, we have r￿t identrfied any material uncertainties r81aling to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of al least ￿1ve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concem are describ8d in the relevant sections of this report. other inforniation The other information comprises the information included in the annual report. other than the financial statements and our audilorfs report Ihereon. The trustees are responsible for the other information. Our opinion on the financial 5talemenls does not cover the other information and. except lo the extent Othen￿ls& explicitly slat8d in our report, we do not express any fomi of assurance eondusion Ihereon. In connection with audit of the financial slaleménls, our resFK)nsibility is lo read the other information and. in doing so, consider whether the other information is Material￿ inconsistent with the financial slalemenlg or our kno￿edge obtained in the audit or otherwise appears lo be materially misstated. If we idèntrfy such material inconsistencies or appa￿ nl material misslalemenls, we are required to determine whether there is a material misslatemenl in the financial slatefnents or a material misstalemenl of the other information. If, based on the work we have performed, we conclude that there 15 a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN Oplnlons on other matters pre8eribed by the Companle9 Act 2(K16 In our opinion, based on the work undertaken in the course of the audit- the information given in the trustees. annual report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and Iruslees, annual report have been prepared in accordance with applicable legal requirements. Matters on whlch we are roquirgd to report by excéption In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have r￿t idenlffied material misstatements ill the trustees, annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 require us to report to you if, in our opinion.. the parent charitable company has not kept adeqLJate and sufficient accounting records. or returns adequate for our audit have not bean received from branches not visited by us., or the parent charitable company's financial statements are not in agreement with the accounting records and returns-, or rtain disclosures of Irvstees, remuneration specified by law are not made., or we have not received 811 the infomiation and explanations we require for QUT audit., or the Iruslees were not ents'lled lo prepare the financial statements in accordance witb the small companies ￿gIMe and take advantage of the small companies exemption in preparing the Trustees, Annual Report and from preparing a strategic report. R8sponsibiliti8¥ of twstees As explained more fully in the injstees, responsibilities statement sel out on page g of the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible ft)r the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation of finan¢ial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the group and parent charitsble company's ability to continue as a going concern, disclosing. as apPl￿ble, matters related to going concem and using the going concern basis of accounting unless the trustees either intend lo liquidate the group or parent charitable company or to cease operations. or have no realistic alternatNe bul to do so. Auditorfs responslbllitiès for the audit of the financial statarnonts We have been appointed as auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report In accordance with those Acts. Our objectives are to obtain reasonable assurance abwt whether the financial stslements as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK} will always delecl a material mi55latement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could rèasonably be expected lo influence the economic decisions of users taken on the basis of these financial slalements. As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also.. Idenlrfy and assess the risks of matgrial misstatement of the financial stalemenls. whether due lo fraud or error, design and perform audit procedures responsive lo those risks. and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not detecting a material misstalemenl resulting from fraud is higher than for one resulting from 11

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN error, as fraud may involve collusion, forgery. intentional omisstons. misrepresentsbons. or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the group and parent charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting eslimales and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit eviden￿ obtained, whether 8 material uncertainty exists related lo events or conditions that may cast significant doubl on the group and parent charitable Company's ability lo conlinue as a going concern. If we conclude that a material uncertainty exists. we are required lo draw attention in our auditor's report to the related disclosures in the financial statements or. If such disclosures are inadequate, lo modify our opinion. Our condu5ions are based on the audit evidence obtained up lo the dale of our auditor's report. However, future events or condilions may cause the group or parent charitable company lo cease lo continue as a going concem. Evaluate the overall presentation, slruclure and content of the financial stalemenls. including the disciosures, and whether the financial statements repfftsent the undeAying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group lo express an opinion on the consolidated financial slaternents. We are responsible for the direction. supervision and performance of the group audit. We remain solely responsible for our aLbdit report. We communicate with those charged with governance regarding, among other mallers, Ihe planned scope and liming of the audit and significant audit findings. including any significant deficiencies in intemal control that we identify during our audit. Explanatlon as to what extent the audlt was cons5dered capable of detecting irrggularltles, including fraud Irregularlties. including fraud, are inslanc8s of non-compliance with laws and regulalioiis. W8 design procedures in line with our responsibilib"es, outlined above. to detect material mi55talemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities. including fraud is detailed below. The objectives of our audit in respect of fraud, are.. to identfy and assess the risks of material misslalemenl of the financial slalements due lo fraud- to obtain suffKient appropriate audit evider regaréing the assessed risks of material misstalemenl due lo fraud. through designing and implementing appropriate responses lo those assessed risks,. and to respond appropriately lo instances of fraud or suspected fraud identified during the audit. However. the primary responsibility for the prevention and detection of fraud rests with both rnanagemenl and those charged with governanee of the charitable company. Our approach was as follows.. We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP. and UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation. We oblaine(l an understanding of how the charitable company complies wtlh these requirements by disGussions with management and those charged with governance. We assessed the risk of material misstalernenl of the financial stslemenls, including the risk of material misslalement due to fraud and how it might ￿¢Ur, by holding discussions with management and those charged with governan￿. 12

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN We inquired of management and those charged with governan￿ as lo any known instances of non-compliance or suspected non-compliance wlh laws and regulations. Based on this understaThling, we designed specific appropriate audit procedures to identify instsnces of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of in812nces of non-compliance with laws and regulations thal are not clos81y related lo events and transactions reffecled in the financial stalemenls. Aso, the risk of not detecting a material misslalemenl due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by. for example, forgery or intentional misrepres8nlations. or through coIIusK)n. Uso of our report This report Is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and. in respect of the consolidated financial stalemenls, lo the charl￿$ trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might stale to the charitable company's members and tru51ees those matters which we are required lo slate to them in an audrtor's report and for no other purpose. To the fullest extent permrtted by law, we do not ac￿pt or assume responsibility 10 2ny party other than the charitsble company, the charitable company's members, as a body. and the eharity's Iru5tees, as a body. for our audit work. for this report, or for the opinion we have formed. James Saunders Isenior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 9 Appold Street London EC1A 2AP Date.. 2411112023 Moore Kingston Smith LLP is eligible to act as auditor in termg of Section 1212 of the Companie5 AGt 13

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Incorporating a Consolidatod Incomo and Expenditure Account Notes Unrestrlcted funds Seafar•rHelp Rgstrictgd lunds other Restrlctod funds Total 2023 Total 2022 INCOME FROM Donations 75,940 75,940 S7.540 Charltable adivities Membership subscriptions Grant ineom& Mental health training 32,798 32,798 927.224 70,756 93,10S 881.005 98.914 345.061 582.163 70,756 Oth8r income 18.210 18,210 4,327 Other tradlng activitie Commercial trading operations 222.139 222.139 161.918 Inv•stmgnts Investm&nt irKorne 1,475 1,475 Total incom• 421,318 345.061 582,163 1.348.542 1.297,300 EXPENDITURE ON Raislng funds ComrnercHI tradlng opsrations 133,397 133.397 98,736 Charltable acllvhlos meM￿rShiP support S8afar8rHelp M8ntsl Health Trainlng ProjeGts undertaken Emarggncy fund grants 121,701 121.701 527,854 46.404 $39,217 38,701 203.605 436,992 527,854 46,404 539,217 38.701 352,506 $8,613 Total ￿pendIture 301.￿)2 527,654 577,918 1,407,074 1.1SO,452 Tmsfer between funds 1272.5441 284,920 112.3761 Net incom? and not mov*mont in funds forthè yo¥r {152.7281 102,327 18.1311 158,532) 148,848 Reconciliatlon of fiJnd$: Total Funds brought fofvrfard 507,076 1102,3271 367.388 772.137 625.289 Total Funds carrlod forward 13 354.348 359,257 713.605 772,137 Al of the activities of the Group and the Charity are continuing. There are no other recognised gains or losses. The notes on pages 17 to 28 form part of these financial statements 14

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN CONSOLIDATED BALANCE SHEET 2023 2022 Notes Fixod assets Tangible assets 3.733 6.359 Curr•nt assets Debtor5 Cash al bank and in hand 10 118.167 750.940 125,716 745,434 869.107 871.150 Creditors falling due withln one yèar {139.235) {105.372) Net current a#sgts 709.872 765.778 Total assots less Gurrgnt Ilabllltles 713.605 772.137 Funds Unrestricted fund5 Reslricled Seaf8rerHelp funds Other Restricted funds 13 13 13&14 354,348 507,076 (102,327) 367,388 359,25T Total Charlty Funds T13,605 772,137 The notes on pages 1710 29 form part of these financial statements. The group accounts have been prepared In accordance wth section 398 of the Companies kn12006 and section 138 of the Charities Act 2011.The finanryal slalements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies Approved and authorised for issue by the Board of Trustees on 19th September 2023 and signed on ils beh8W by.. Karln Ors Truste8 COMPANY REGISTRATION NUMBER:3171109

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN CHARITY BALANCE SHEET 2023 2022 Notes Flxed assets Tangible assets Investment 3.733 6,359 18 3.734 6,360 Currant assets Debtors Cash al bank and in hand 10 81,423 709.422 114,093 740,419 790.845 854.512 Credftors falllng duo Wlthln ong year 180.974) (88,T341 Nat current assgts 709.871 765,787 Total assets less current liabilities 713,605 772,137 Fund8 Unrestricted fLJnds Restricted SeafarerHelp funds Other Reslricled funds 13 13 13&14 354,348 507.076 (102,3271 367.388 359.257 Total Charity Funds 713.605 772.137 The notes on pages 17 to 29 form part of th858 finan¢ial statements. The financial statements have been prepored in accordan¢o with the special provisK)ns of Part 15 of the Companies Act 2006 relating to small companies. Approved and authorised for issue by Ihfj Board of Trustees on 1W September 2023 and signed on its behaw by= Karin Orsel Trustee COMPANY REGISTRATION NUM8ER:3171109 16

INTERNATIONAL SEAFARERS, WELFARE ANO ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN CONSOLIDATED STATEMENT OF CASH FLOWS 2023 Group 2022 Group Notes Cash ￿nOrated fromllused by) opgrating activities 20 152.351 Cash flows from Investlng activities I nlere5t income Purthase of tangible fixed assets 1,475 12.372} {3,514} Cash providedby Investlng activities (897 {3,021> I ncrease in cash and cash equivalents in the year 5.506 149,330 Cash and cash equivalents at the beginning of the year 745,434 596.104 Total cash and Gash equlvalents at tho end of the year 750.940 745,434 Analysis of cash and cash equivalonts and net debt 2023 Group 745,434 5,506 2022 Group 596,104 149,330 Opening Balance at 0110412022 Cash-flows Closing balance at 3110412023 17

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NEfwoRK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15WAN NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES 8asls of Preparatlon The financial ststemenls of the charitable company, which is a public benefrt entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'AccounliNg and Reporting by Charities: Slalemenl of Recommended Practice applicable lo chanties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {effective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included al market value. Con501idaled accounts of the group have been prepared in view of the size of ISWAN and the group. Information about the subsidiary is given in note 18. As permilled by s.408 Companies Act 2006. no separate statement of financial activity is presented in respect of the parent company. Fund AGGountlng Funds held by the charitable company are: Unrestricted funds these are fijnds which can be used in accordance with the charitable company's objects, at the discretion of the Board. these funds can only be used for the SeafarerHelp activities. these are funds that can be used for partiCLJlar restricted purposes, within the objects of the charitable cornpany. Where funds received are earmarked for a particular project, such amounts are placed in the restricted fund immedialdy upon receipt. SeafarerHelp funds Restricted funds In the absence of any provision lo the contrary. Interest income that arises on the advance receipt of project funds is treated as part of the company's unrestricted funds. Income l income is Included the Statement of Financial Activities when the ¢haritable company is legally enlilled lo the income and the amount can be quantified with reasonable certainty. The following specific policies apply to categories of income= Subscriptions for the current and previous years are accounted for on an accruals basis. Where grants are related lo performance and spectFic outcomes, they are accounted for as the charitable company earns the right lo consideration by its performance. Where income is received in advance of perfom)ance its recognition is deferred and included in creéilors. Where ent￿ement occurs before the income is received, the income is accrued. Expendlture Expendrture is included in the statement of financial activities on an accruals basis. Direct costs are costs which are directly attributsble lo specrfic projects. Where costs canr)ot be direclly attributed to specffic activities, they have been allocated lo activities on a basis consistent with the use of the resources. 18

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN Costs of raising funds are the wages and overheads incurred that match the amounts that have been recharged lo the trading subsidiary (see note 181. Governance costs are the costs associated with the governance arrangements of the charitable company. Included within this category are costs associated wrf(h the strategic management of ISWAN as opposed lo the éay-to-day management of the organisation's charitable activities. Support costs comprise costs for general management, accounting and financing. Support costs are allocated across the categories of charitable expenditure. The cost allocation is detailed in note 7 to the financial statements. Management and adminislralion expenditure is charged to the company's general unrestricted fund and the SeafarerHÈlp fund in the first instance, subj8cl lo recoveries against certain reslricled funds where agreements permit an administration charge lo be levied against that fund. Taxation The charity is considered to be a charitable company and exempt from taxation as its income 18 applied exclusively to charitable purposes. Profit from the subsidiary is gifted lo the Charity. Tangible flxed a8sets and depreclation Tangible fixed assets are included at cost. Depreciation is provided over the expected useful lives of the a$5ets Cor￿rned on the following straighl-line basis. from year of acquisition Computer equipment Fixtures and fittings 25.kn per annum 20Wo per annum The charitable cornpany has a policy of capilalising all assets that are deemed lo have an enduring value. ex￿p1 that equipment replacements or items that cost less than £1,000 are not capitalised and are wrillen off as expended. Loasing and hirè purchase commitments The cosl of operating lea585 is written off as incurred. Fornign Gurr•ncy translation Transaction5 in foreign currency are translated into sterling al the rate of exchange ruling on the transaction dale. At the balance sheet date balances denominated in foreign currency are Iran51ated at the year*nd exchange rate. Pension costs The company conlribules to employees, defined contribution personal pension plans at above the minimum recognised rate. For information on ¢urrenl year costs see note 6. Critical accounting oStimate5 and areas of Judgement In preparing the financial slslements il is necessary lo make certain judgemen15, estimates and assumptions that affect the amounts recognised in the financial slatemenls. In the view of the Trustees in applyiry Ihe accounting pollcies adopted, no ju¢JgemeTrt5 were required that have slgnificanl effect on the amounts recognised in the financial statements nor do any estimates or assumptions made cary a significant risk of material misstatement in the next finanoial year. STATUS AND MEMBERS The company is limited by guarantee and therefore does not have share capital. 11 is a registered charity, and has charitable stslus for tax purpose5. Control of the company is vested in the members collecliv@ly and there is no one overall controlling party. 19

INTERNAnONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN 3 GRANT INCOME 2023 2022 SgafarerHelp 345,061 332,108 Projects Regional Programmes Typhoon Rai Grant SIRF Philippines Covid Grant SIRF India Covid Grant Trinity Welfare Grant Yacht Crew help SIM Project Trafigura Ukraine Crisis Support Fund 137.9S5 12.800 90,000 133.000 10.000 36.518 13.250 16.649 46.080 160.000 346.184 582,163 420,273 Emerygncy Funds Seafarers, EmergenGy fund 128,624 128.624 927.224 881.005 4 TOTAL EXPENDITURE staff costs Direct Gosts Support Total 2023 Total Raising funds: Commercial trading operations Charltable activlties.. Membership support Maritime Mental Health Awareness SeafarerHelp Projects undertaken Regional programmes Other Emèrgency Fund grants Seafarers Emergency 85,300 49,323 134,623 98,172 78,751 42,950 121,701 203,605 46,404 320,809 205.619 526.428 437.556 1,100 101.050 55.085 83,491 56.185 483.032 125.490 227,015 298,491 38.701 38,701 58,614 587,010 383,596 436.468 1,407,074 1,150,452 For further analysis, see note 6 note 7

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN GOVERNANCE COSTS The following governance costs are included above within support costs: 2023 2022 Audit fees Legal and professlonal Trustee expenses and Boardlmember meetings 12,270 14,115 43,300 12.900 7.331 900 69,685 21,131 EMPLOYEE INFORMATION 2023 Number 2022 Nurnbgr The average monthly headcounl was.. 15 15 The average monthly full-time equivalent number of employees during the year was.. SeafarerHelp Administration and management Projects 11 11 15 15 Employment costs Wage5 and salaries Social security costs Pension costs 514,496 40.361 18.045 417.993 35.789 20.092 572.902 9,111 4,997 473.874 3.367 5.137 Staff training costs Recruilmenl and staff welfare 587.010 482,378 During the year, the company contributed lo employees. defined contributiors personal pension plans for all em ￿0yeeS who elected lo join the scheme. Contributions of £18.045 were payable during the year 12022 £20,092} and the amount outstanding at the year-end was £448.{2021'.Nill. The trading subsidiary does not have employees of its own. All SeafarerHelp em￿oYeeS are joinlly employed by the charity and the subsidiary and costs are apporb.oned based upon an estimate ofwork perfomieé. No employee norforthe prior year received employee benefits (excluding pension contributions) of MO￿ than £60,000. The total employee benefits, Induding pension conlrlbulions. of key management personnel for the year was £66.000 {2022- £55.5551. The Trustees received no remuneration during the year nor for the prior year. Expenses reimbursed lo. or paid on behalf of the Trustees are shown under note 8. 21

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 JSWAN 7 SUPPORT COSTS ALLOCATION Costs, other than staff costs, incurred during the year were as follows-. 2023 2022 Establishments costs Communications Travel and related costs AGM. Invitations, Meetings IT costs Publlcations and marketing Professional fees 35,483 18,172 5,355 43,301 76,939 8,576 104,200 55.421 18.445 7.187 69,030 9,286 82,442 5.762 Bank and other costs Bad Debt WTitten off Regional programmes Other projects Depreciation 9,504 57171 55.085 17.684 4.998 125.490 9.381 436,468 382,444 These Costs have been allocated as follows.. 2023 2022 Membership support SeafarerHelp 42.950 205.619 72,077 148,881 Projects undertaken Regional programmes Other Comm8rcial trading operations 55.085 83.491 49.323 125.490 35.996 436.468 382.444 Costs have been allocated to specific activities where appropriale or, where shared beNveen activities have been allocated based on the estimated lime spent by staff on activities. The cost allocation indudes an element of judgement. In 2015, ISWAN look over the regional programme activities of MPHRP. The regional programme costs shown above in the main relate to the Costs of programme advisefs in India, the Philippines and Nigeria, and their related overheads. 8 TRUSTEE EXPENSES None of the Trustees {or any persons connected with them) received any remuneration during the year.12022..Nil). There were no Trustees for whom retirement benefits were accruing under rnoney purchase pension schemes.12022..None) No Trustees were reimbursed for expenditure on travel and subsistence in the year {2022- None) 22

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN TANGIBLE FIXED ASSETS GROUP AND CHARrr Fixtures and fittings Computar Equipment Total Cost or valuation Al 1 April 2022 Additions Disposals 37.525 2.372 {5.402} 37,525 2,372 15,4021 At 31 March 2023 34,495 34,495 Depr•¢iation At 1 April 2022 Charge for year Eliminated on Disposal 31,166 4,998 15.4021 31,166 4,998 {5.402} At 31 March 2023 30.762 30,762 Net book valug Al 31 March 2022 At 31 March 2023 6,359 3,733 6,359 3,733 10 DEBTORS 2023 Group 2022 Group 2023 Charlty 2022 Charity Trade debtors Prèpayments and aGcrued income Inler-company owed 94,202 23.965 90,249 35,467 24,799 23,964 32,660 90.249 23.844 118,167 125.716 81,423 114,093 11 CREDITORS- AMOUNTS FALLING DUE wrrHIN ONE YEAR 2023 Group 2022 Group 2023 Gharlty 2022 Charty Trade creditors Taxe5 and social security costs Accruals and other creditors Amount due to subsidiary Income and Grants re￿iVed In advance 88,226 16,371 17,039 17,264 8,562 14,820 20.320 6,666 16,389 17.264 7,800 13,320 50,818 37.598 64,725 37,598 (4691 159,234 105,371 80.973 88.733 23

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15WAN 12 DEFERRED INCOME There was no deferred income In respect of grant funding or contract income. A lolal of £37,598 membership income were deferred lo future period. 13 FUNDS AND RESERVES hAovements in unr8slricled funds for the current yoar ar8 as follows.. Unrestrlcted SoalarerHelp funds Restrictad funds Othor Total fund8 Réstrictèd funds At 1 April 2022 507,076 (102.327) 367.388 772.137 Retained for the year (152.7281 102.J27 18.1311 158.5321 At 31 March 2023 354,348 359,257 713,605 Movements in unreslricled funds for the prlor year are as follows.. Unrestrlcted SeafarerHelp funds Rostrict•d funds Other Total fund8 Rostrlcted funds Ai 1 April 2021 393.122 2,557 229,610 625.289 Retained for the year 113.954 (104,8841 137,778 146.848 At 31 March 2022 507,076 (102.327) 367.388 772.137 Restricted funds are analysed further in Note 14. 24

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN 14 OTHER RESTRICTED FUNDS The following is an analysis of the movements on Restricted FLtnds lolher than SeafarerHelpl.' 1 April 2022 Income Expenditure Transfer between funds 31 March 2023 PROJECTS Business Development CRM system Health & beh8vbur of Seafarers HIVIAids 11201 11301 1,000 120 130 1,000 3.621 3,621 Intemotional Port WeTrare Partngfship YacJ)t Crew Help Project M8nager and Communications Assistant Regional Programrnes Seafarèrs Welfrare Awards 3.573 3,573 30,127 16,955) 17.649 {18.726} 29.050 6,955 56,185 1,981 {56,185} 1.981 Superyacl)tS survey Trdining on Board Campaign non regional project Mantal Health Awaren 623 623 19,654} 21.101 9.654 21,101 29.516 129,5161 Trinlty Hou$8 Sirn project Saafar8rs UK Covid Grant 9,937 45,080 127.798) 27,219 (2801 294 280 Typhoon Ral Trinity Vvelfare Grant-Clinci81 SIRF PHILIPPINES 13250 (12,265} 17,396} 1.279 7,395 18,078 18.078 SIRF INDIA 47,954 121,338} 1257.492) 138,017) 26,618 Ukraln6 Crisis Fund 346.184 88,692 Trafigur3 Fwndation 180.000 21,983 214,246 582.163 1539.217) 112.3761 244.816 EMERGENCY FUNDS S9afarers Emergency MPHRF 125.702 132.651} 16,051} 93,051 22.112 16,061 CGPCS 5,328 5,328 153.142 138,701) 114.441 367.388 582.163 1577,918) 112,3761 359,257 25

INTERNATIONAL SEAFARERS. WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN ReslriGled funds are funds that can only be used for particular restricted purposes as specified by funders, within the objects of the charitable company. A fuller description of the major reslricled fund projects can be found in the Trustees, report on page 2 to 5. During the year, it was the Tfu$lees' discretion lo apply the ftjnd from the general reserve lo cover the negative balances on the restricted fvnd brought forward. The reason being that they were not significant, the money had been genuinely spent on the restricted purposes and the ¢Jnrestricted fund was enough lo cover the expenditure. Mental Health Awareness is training courses run by ISWAN. il is not a restncted fund. The management le8m is actively seeking and tracking down the original funders to r8purpose any inactive restricted funds for the coming year. OTrIER RESTRICTED FUNDS Icontinued) Movernents in unr&stricled fvnds in tha prfor year ar6 as fOll￿￿s.. 1 Aprll 2021 Income Exp•nditur• 31 March 2022 PROJECTS Business 08velopmènt CRM system Hé8llh & behaviour of Soafarers HIVIAids 11201 11301 1,000 11201 11301 1.000 3,621 3.621 Inlemational Port Welfare Partnership Yacht Crew Help Project Manager and Communlcations Assistsnt Region81 Programmes Seafarers W8lfar8 Awards Superyachts survey Training ￿ Board Campalgn nonregional project Mgntal he&lth awarBn888 3,573 3,573 10.891 36,519 117,283} 30,127 16.9551 16,9551 54.376 1.981 623 137,955 1136.146} 56,185 1,981 623 19,6541 25.818 19,6541 21,101 29,516 14.717) 29.518 Trfnity House Sim project Seafarets UK C()vid Grdnl 25.571 15.6341 16.6471 112.5061 12.6051 171.9221 185.0461 9.937 6,367 12801 294 Typhoon Ral Trinity welfare grant SIRF PHILIPPINES 12.800 10.000 7,395 90.0(KJ 18.078 SIRF INOIA 133,￿0 47,954 146.478 420.274 1352.5061 214,246 EMERGENCY FUNDS Seafarers Em8rg8ncy MPHRF 46.757 128,￿￿3 149.6781 125,702 22.112 22.112 26

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15WAN CGPCS 14.2&3 18.9351 5,328 83,132 128,623 158,6131 153,142 229.610 548.897 1411,1191 367.388 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS At 31 March 2023 Unrestrlcted S•afarerHelp funds Restricted funds Other Rostrictèd fvnds Total funds Tangible fixed assets Debtors Cash and bank balances Creditors.. due within 1 year 3.733 150.827 929.288 1191,8951 3,733 150,827 750,940 1191.8951 1182,593) 4,245 891,953 1182.593) 713.605 Prior yoar.. At 31 March 2022 Untestrlcted SeafarerHelp funds Restricted funds Other Restricted funds Total funds Tangible fKed assets Debtors Cash and bank balances Creditors.. du8 Within 1 year 6,359 125.716 480,374 1105.371) 6,359 125,716 745,435 1105,3711 1102,327) 367,388 507,076 (102,327) 367,388 772,137 16 OPERATING LEASE COMMITMENTS There were future minimum operating lease5 payments as follows.. 2023 2022 Withln 1 year Be￿een 1 and S y8ars 13,325 6,665 13,325 19.990 27

INTERNATIONAL SEAFARERS. VVELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN 17 SHARE CAPITAL The company has no share capital and is a charitable company limited by guarantee. The members would be required to contribute a maximum of £10 each in the event of liquidation. 1B SEAFARERS WELFARE and ASSISTANCE NETWORK LIMITED I'SWAN LIMITED") The unlisted inv8slrnent of £1 held by the Charity is the cost of the issued share capital of SWAN Limited, acquired on 1 St April 2013 as part of the merger with Inlemalional Seafarers Assistance Ne￿rk IISANI. SWAN Limited is a wholly owned subsidiary of ISWAN and is incorporaled in England. company number 8009163. Its sole activity is lo operate Helplines that are deerned lo be outside of the charitable objectives of ISWAN. It share5 staff and resourGes with ISWAN and donates all of it5 Frfils to ISWAN by grft aid. A summary of the accounts of SWAN Limited is as follows.. 2023 2022 Statement of Financlal Actlvltles Sales Shared costs 222,136 (133,397) 161,916 (98,172) Net trading profil 88,739 63,744 Grft aid payment lo ISWAN 188,739) 163,744) Net increase in funds Balance Sheet Current assets Current liabilities Share Capital 110,921 (110.920) 67.458 (67.457) (1) 19 RELATED PARTY TRANSACTIONS The Charity has taken advantage of the exemption provided in FRS 102, paragraph 33.1A, not to disclose Iransacllons with other group companies. Transactions take place during the year on an ami's length basis with one seafarer related charitylorganisation. where there are common tnjstees with the Board. 28

INTERNATIONAL SEAFARERS, WELFARE AND ASSISTANCE NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ISWAN 20 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Nel movement in funds Add back depreciation charge Deduct interest income Shown in inv8sling activities Ilncreasel in debtors IncreasellDeGrease} in creditors (58.5321 4,998 146,848 9.381 (1,4751 7,549 53,863 {4931 {14,495} 11.110 Net cash generated froml(used by) operating activities 6,403 152,351 29