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