## **THE MISSION TO SEAFARERS** ## **TRUSTEES’ ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022** **A company limited by guarantee, registered in England and Wales no. 6220240 A charity registered in England and Wales no. 1123613** **First Floor, 6 Bath Place, Rivington Street, London EC2A 3JE www.missiontoseafarers.org** **@flyingangelnews** **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022** ## **CONTENTS** ||**Page**| |---|---| |Introduction|**1**| |Strategic Report|**3**| |Financial Review|**11**| |Charity Information|**17**| |Governance, Structure and Management|**19**| |Statement of Trustees’ Responsibilities|**23**| |Independent Auditor’s Report to the Members|**24**| |of The Mission to Seafarers|| |Financial Statements:|| |Consolidated Statement of Financial Activities|**27**| |Consolidated Balance Sheet|**28**| |Company Balance Sheet|**29**| |Consolidated Statement of Cash Flows|**30**| |Notes to Financial Statements|**31**| THE MISSION TO SEAFARERS TRUSTEES. ANNUAL REPORT AND ACCOUNTS 2022 Cèring far seafarers ihe wotrld Introductlon Our Annual Reports of the last tsvo years have reliected the massive disruption and difficulty that faced our beneficiaries. seafareis and their familEs. as a resum of the COVID-19 pandemic. These brought enhanced urgency to our work and extraordinary challenges in delNering il. Those impacts and Challenges Continued right through 2022, wtth the Shore Leave issue particularty prevalent, and often delrimenlal lo seafarei well- being. AlongsKle ils impact on crews. the pandemic had a major effect on our work, especially on our network of ovef 120 Seafaier Centres, although many are now ￿1￿9 usage once again. Then in March 2022, seafarers, and their families, We￿ hrt by a second devastating crisis- the Ukfaine war. With Ukrainians and Russians making up 15% of the crew workforce. wrth famil*s in Ukraine under intense stress and with many other seafarers caught up in the conflKt. there were huge demands on our teams for pastoral and practical intervention. Our work in 2022 has taken place against the background of these crises, both of whtch have hil seafarers with particular ferocty. as well as in the context of the usual intense challenges they experience. In ports. the emphasis throughout 2022 remained on our proactive visitat￿n of ships. Face-lo-face welfare support remains essential, and the core of our output. The value of seeing a friendly fa￿ in a strange port cannot be over*mphasiseé. of heanng a drflerenl voice. of being able to share good news and bad. seek confidential admce or request more overdy spintual support. Our teams have brought their Skills in mental health first aid and post trauma support Pastoral support has combined wrth pradical services that have been hugely important. These have included the extraordinary amount5 of petsonal shopping carried out foi seafarers who could not disembark In port. a reality refiected strongly in OUT Stalislics. In addition. the facilitstion of communication has tsken on a new s￿nthcance in the absence of shNe leave, and in relation lo the need for Ukrainians lo maintain cA)nrEcb"vty wilh their homes. Our extensive portlolio of fast-developing wider prcoramme has been a very imFQrtanl feature of recent years, and continued lo be in 2022. This features significantly in this report. 2022 has also seen the 1mplen￿ntatIOn of the recommendations of a major External Govemance Review, the move of our IHQ team to a new head office building IcNJether wrth ML￿tt changed patterns of working, an expansion of our IHQ team and a reordering of our Senior Management Team. There has also been significant changes in leadeT5hip al Regional level following Pfomotions and retirements. We have continued our governance improvement joumey. wrth a particular emphasis in 2022 on Health and Safety. l also note the ongoing success of our Oevebjpment Team on whose fundraising we remain uttety dependent. These are some of the highlights of what has been another year of enormous challenge and very positive outcomes. Output has remained absolutely fccused on Iransfoming the lives of Seafarers and their families in these aGLrtely drffi¢ult times. We are a Chnstian mis$K￿, closely linked with the Church of England and the Angliean Church worldw￿e. That mission ￿ expressed hdisticalty. inclusivety and practically bul il has a deep spintual underpinning which continues lo infomi and guide all that we do. In closing this introduction lo our Annual Report, I musl acknowledge and thank our teams in London and around the world. the vast number of supporters, indmdual aThJ cortKKale. who conlinue lo make our work possible. and my own colleague Trustees. Tom Boardtey **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 STRATEGIC REPORT** **The Mission to Seafarers Trustees’ Annual Report (incorporating the Directors’ report as required by Company Law) for the financial year ending 31 December 2022** ## **Our Object** The object of The Mission to Seafarers (“the Mission”), as stated in the Articles of Association, and for which we are established for the public benefit, is: ## **“To promote the spiritual, moral and physical wellbeing of seafarers and their families worldwide.”** ## **Our Common Standards** The Mission has further revised and developed a range of common standards to maintain a strong sense of unity and common purpose, to sustain and protect its reputation and to promote high quality ministry. They will be applicable to all the Mission ‘Members’ including all Mission to Seafarers ‘Flying Angel’ local stations, operations and honorary chaplaincies as follows; ## **Our Vision** Our vision for the world’s 1.6 million seafarers of all ranks, nationalities and beliefs is to: - operate a network of services where seafarers are valued and cared for in the ports where the need is greatest, thus improving and safeguarding their wellbeing, - be in the right ports with the right resources offering support which is relevant, compassionate and lifeenhancing, and - meet the needs of all seafarers and their families, irrespective of faith or cultural background. ## **Our Mission** Our simple mission is **to care for the shipping industry’s most important asset: its people.** Throughout a long and distinguished history, the Mission has grown to become one of the largest port-based welfare operators in the world, with a presence in almost 200 ports. We provide a service 365 days a year, across 50 countries where 118 of these ports have a Flying Angel centre. International Headquarters (IHQ) in London directly supports over 70 front-line staff in addition to an army of volunteers who visit ships, offer hospitality, drive minibuses and engage in a range of other welfare activities. ## **Our Ethos** Our historic and integral partnership with the Anglican Church continues to be central to our ethos. It has traditionally found particular expression in how local teams should normally be licensed, recognised or affirmed by Diocesan Bishops as appropriate. In addition, it is expressed through our commitment to the Five Marks of Mission. We seek to maintain and develop close and supportive relationships with the worldwide Anglican Communion. We are also deeply committed to effective ecumenical co-operation locally, regionally and internationally. We actively seek to sustain the best in such working, including through our longstanding and proactive engagement within the International Christian Maritime Association (ICMA). Our ethos is one which also stresses the importance of the widest possible partnership and collaboration to the benefit of seafarers and their families. ## **Our Values** _**Pioneering**_ : Being open to God’s leading, we encourage innovative thinking and seek to be flexible and entrepreneurial in our ways of working. _**Inclusive**_ : We are unconditionally committed to the support of all seafarers and their families without discrimination. �� **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022** ## **STRATEGIC REPORT** _**United**_ : We are one global, intergenerational, multicultural family united in vision and purpose, while respecting diversity of culture and context. _**Collaborative**_ : We are co-operative in our approach to our work – in relation to individuals, the church, ecumenical partners, and organisations and institutions that work for the welfare of seafarers. _**Accountable**_ : We are accountable to God as stewards of the resources entrusted to us, to each other in recognition of our mutual inter-dependence and to those charged with governance at local station, regional and international level. _**Caring:**_ In all our dealings we strive to behave with compassion, to act with integrity and to treat everyone with respect. ## **Our Code of Conduct** Our membership of ICMA carries an obligation to abide by the Constitution of the Association and its Code of Conduct. In a fragmented and divided society it is ICMA’s mission to promote unity, peace and tolerance. ICMA was founded to promote and co-ordinate Christian ecumenical co-operation in maritime ministry. Chaplains and staff of all ICMA Member Societies at local, national and international level are therefore to: - a) Show an unconditional love to the seafarer as a human being, created in the image of God, and a sincere respect for their personal values and beliefs. - b) Serve seafarers and their dependants of all nationalities, religions, cultures, language, sex and race. - c) Fight prejudice, intolerance and injustice of any kind. - d) Respect the diversity of ICMA Members and Churches and develop that which unites them. - e) Respect the loyalty of those engaged in maritime ministry to their particular ecclesiastical discipline and tradition, and refrain from proselytising seafarers. - f) Co-operate with persons, organisations and institutions - Christian or non-Christian - that work for the welfare of seafarers. ## **Our Standards** The Mission to Seafarers aspires to the very highest quality of professional standards and is absolutely committed to effective and transparent safeguarding. ## **Our Common Identity** All Members share a common identity, which includes the use of the name “The Mission to Seafarers” and/or “Flying Angel Club”, followed where applicable by the name of the relevant region/country/local station, and the use of the Flying Angel logo. As such, Members should be sensitive to the fact that the actions of one or more Member, even within their own national or regional context, may significantly affect others across the global network. ## **Our Ministry** We are committed to Christian mission, informed by the “Five Marks of Mission”, with a focus on a holistic, proactive, professional and engaged response to the needs of seafarers and their families. Our port-based ministries will reflect in some measure the following services, as is appropriate within the local context. The Mission to Seafarers encourages a creative, contextual and entrepreneurial approach, providing it is in line with seafarer need and is sustainable. Areas of ministry may include: - Ship visitation - Centre hospitality: - Friendship/welcome - Wi-Fi facilities - Recreational opportunity �� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022** ## **STRATEGIC REPORT** - Food and drink - Shop - Chapel and services - Hospital visitation - Prison visitation - Transport services - Emergency response, including post-trauma and mental health counselling/signposting - Justice and Advocacy, supporting seafarers during times of crisis or need and advocating for those without voice - Spiritual support as appropriate: - Prayer - Counselling - Services of worship on board or in centre - Provision of access to community places of worship - Distribution of Christian literature - Programmes designed to meet the wider needs of seafarers in a rapidly changing maritime world, including global projects and local port welfare initiatives. ## **Our Work 2022 - Overview** ## **1. Seafarers** The acute pandemic-related challenges of 2020 and 2021 continued throughout 2022. These focused particularly on the issue of shore leave, which remained very limited throughout the year, but with emerging evidence of a gradual relaxation globally. The lingering impacts of COVID-19 combined with the outbreak of war in Ukraine had huge implications for Ukrainian and Russian seafarers, as well as for those who found themselves trapped in Ukrainian ports or even under direct attack (one such ship and its traumatised crew was visited by our Chaplain in Turkey). Clearly Ukrainian crew face acute dilemmas and great anxiety for their families, with decisions to be made about returning home or not. Many of these families were based in badlyhit areas. Large numbers became refugees and some suffered injury, death and the loss of homes. These double crises added to all the usual challenges faced by seafarers and their families and posed enormous challenges for seafarer well-being and consequently our need to respond rapidly and relevantly. ## **2. Our Operations** ## Ports Many of the ways in which we normally deliver our work continued to be under severe pressure through 2022. In 2021 our global network of hospitality centres, together with our transport fleets, faced reduced crew footfall of 93%. In 2022, as statistics demonstrate, we began to see something of a recovery, but from historically very low levels. We are in a period of significant uncertainty. Seafarers, the maritime industry and maritime welfare have been through an unprecedented three-year disruption – in addition to wider drivers of change. We are in an emerging new world and are yet to see the full impact of all this on future patterns of seafarer’ behaviour, on company and local regulation and on port security. We believe that seafarer centres will continue to have an important place in seafarer support but they will need to be the right models in the right places. While we are delighted to see a gradual reopening of centres, we recognise that further modernisation and development will be required. 2022 has seen the start of significant planning in line with strategy – particularly around modular and mobile centres. We intend to be in a strong position to lead change once we have greater clarity. Throughout 2022, our focus has been on sustaining and growing proactive ship visitation. This is the best way of ensuring vital face-to-face contact with crew. While we fully recognise the value of digital welfare initiatives and are adopting a hybrid approach ourselves, we continue to believe that personal interventions will always have an irreplaceable role. Significant new investment in paid ship visiting across all our nine regions was made available from 2022 (see below). We continue to be committed to highly professional and well trained teams, not least in the areas of mental health first aid and post trauma support. Again, fresh investment was made available in 2022 for supporting training initiatives through the strategic period. �� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 STRATEGIC REPORT** Volunteering has taken a big hit through COVID-19, with many of our older volunteers not returning after a three year gap. As we begin to reopen centres and expand ship visiting, careful attention is being paid to recruitment and support. ## Wider Programme Our wider programmes have continued to expand and develop. Our WeCare educational resources in communication and financial literacy reached more than 85,000 seafarers in 2022 and we began to develop a formal Family Support Network in South India, based on our successful model in the Philippines. Since the start of the pandemic, our Seafarers Happiness Index has been the industry’s barometer of what crew are thinking and this continued into 2022 with four published reports and a new sponsorship partnership with Idwal and NorthStandard. Work on our new seafarer wellbeing app was completed but technical approvals have delayed the launch until 2023. ## **3. Finances** After two extraordinary years in fundraising, with exceptional corporate donations and legacies, 2022 has been more of a “normal” year. Corporate donations from within the maritime industry remain our prime focus and the likeliest avenue to continued long term sustainability, together with the major maritime grant funders who remain vital to our continuing work. However, events, legacies and individual and church giving all remain very important and valued income streams. Most streams showed returns on or beyond target. We benefit from an exceptional Development team and the support of some key figures within industry. Of note, has been significant levels of government funding into our New Zealand work. There is optimism that Australia will follow. We are active in encouraging these and other governments to consider structured funding for maritime welfare organisations as part of their responsibility under the Maritime and Labour Convention. Trustees have done detailed work on our reserves and we are working to a careful financial parameter plan which will deliberately reduce our reserve levels over time, maximising spending on front-line work while protecting long term sustainability. Our strategy also commits us to further building of local and regional sustainability wherever possible, diversifying our fundraising and making it less UK dependent. As we emerge from the pandemic there will be renewed focus on this. ## **4. General** Our new global strategy was launched at the start of the year and progress is reflected in this report. While its core themes are clear and relevant, there are considerable uncertainties about the exact nature of seafarer need and behaviour in the emerging post pandemic environment and there will need to be considerable flexibility in the timing and nature of its full rollout. An External Governance Review (EGR) reported in 2022. While its outcomes were affirmatory and encouraging, it usefully highlighted a number of areas for consideration, including the need for some adjustment in trustee length of service, for a further review of our Reserves policy, to increase the size of our head office team, to adjust our Senior Management Team structure and to take further measures in regard to Safeguarding. Necessary actions have followed through the year. Also in 2022 the Mission’s new head office opened in Shoreditch with staff returning and working on a very different basis to pre-COVID-19. We expanded all our IHQ teams in line with the recommendations of the EGR and in response to growing demand across all areas, including programme and compliance. ## **Our Work 2022 – Strategy and output** ## **Programme** Strategic aim: we will deliver effective maritime ministry to the highest possible standard, within a framework of sound governance and accountability. Over the next five years we will seek to achieve: - Significant progress towards effective, relevant, sustainable and outcome-based work across our network, ensuring that we are present in the right ports with the right models of ministry. - o Encourage alternative models of ministry, to be explored and established where appropriate. o Implementation of a comprehensive governance structure (international, regional and local) supporting high quality and professional working, in line with common global purpose and standards. �� **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 STRATEGIC REPORT** - Meaningful progress in building a global Mission culture which shares a global ethos and vision and is responsive to a changing maritime environment, open to new thinking and supportive of appropriate entrepreneurial activity. - Ongoing commitment to the support of well-led, well-trained and well-governed regions as the basis for delivering high quality port ministry, working towards regionally defined goals and objectives. - Further development of an effective programme of wider projects (global and regional), that are professionally delivered, seafarer-focused and with demonstrably strong outcomes, having special emphasis on building effective family support networks, working in close liaison with regions as relevant and with engagement from the global Mission. ## Ports chaplaincy and ship visiting The most visible sign of The Mission to Seafarers is our network of port chaplains and welfare teams in 200 ports across 50 countries. Outputs for our UK and Grant Funded chaplaincies were; |**Activity**|**2022**|**2021**| |---|---|---| |Ship Visits|21,623|21,056| |Seafarers centre attendees|33,686|15,412| |Seafarers transported|15,533|6,434| |Justice and Welfare Cases|1,037|951| |Numbers of Seafarers met during a ship visit|151,361|105,280| It should be noted that in 2022 some locations around the world remained in strict lockdown and port access continued to be an issue, particularly for those chaplaincy projects which we fund in developing countries. Officially, the Mission’s teams did not enter vessels until May 2022 when a decision was taken by the Regional Directors to amend the COVID-19 Protocols. When ship visiting did return to include indoor activity, social distancing, masks and sensible precautions were maintained. With the rise of in-vessel visiting, we have increased the number of ship visit interactions for 2022 to seven, on the basis that a ship visitor will encounter a seafarer at the security desk at the top of the gangway (1), an escort to the Master’s Office (2), an interaction with the Master (3) and other senior officer (4), a conversation with the Cook (5) and galley staff (6), and at least one interaction in the Mess (7). This estimate does not work for all ship types (notably cruise vessels) but we believe this to be a reasonable representation of what happens during a ship visit. When added to our global Mission to Seafarers family, the above statistics rise to: |**Activity**|**2022**|**2021**| |---|---|---| |Ship Visits|39,068|34,629| |Seafarers centre attendees|69,743|23,629| |Seafarers transported|51,013|12,131| |Justice and Welfare Cases|1,358|1,383| |Numbers of Seafarers met during a ship visit|273,476|173,155| During 2022 a £750,000 three-year project was launched to expand ship visitation across all nine regions - Europe: additional ship visitors for Southampton, UK and Izmir, Turkey (delivered 2022) - East Asia: additional capacity added in Thailand, Myanmar and Japan (delivered 2022) - Latin America: Panama (additional capacity planned 2022 for delivery 2023) - Africa: additional funding for Richards Bay, Port Elizabeth, Cape Town (delivered 2022) - Middle East/South Asia: Funding made available for additional work India (delivery 2023) - Oceania: additional funding for South Pacific Islands (research 2022, delivery 2023) - USA: Major expansion project (comprehensive research 2022, delivery 2023) - Canada; ship visiting expansion funding for St John (delivered 2022), Halifax (delivery 2023) - � Australia: ship visiting expansion funding (2022 for delivery 2023) �� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 STRATEGIC REPORT** Ongoing COVID-19 relief and management support was provided to local stations including financial support where needed and practical help by providing PPE and sanitising stations. ## Wider Programme Our wider programme of mental health resources, resilience training and working with seafarers’ families continued to grow in 2022. The Philippine Family Network continued to be in high demand. Building on our pandemic feeding programme in South India, we have taken steps to formalise a Family Support Network in Tuticorin, India. An initial assessment of need has been completed, and we have provided funding for a homework club, along with sewing lessons. In 2023, we will recruit an in-country co-ordinator who will help to develop the work in line with local need. |Tuticorin Family Network;||| |---|---|---| ||Family Programme Participants|2,050| |Philippines Family Network||| ||Family Programme Participants|3,549| ||No. of welfare cases dealt with
in Manila|1,353| ||No. of members in the Family
Network|3,621| New partnerships were formed with Kadmos, BSM and OTG to reach more seafarers with access to our WeCare courses in communication and financial literacy. In 2022, our Programme Manager qualified to train a suicide awareness programme called SafeTALK. In 2022 we trained 180 “suicide alert helpers” from 28 organisations, including Mission to Seafarers volunteers, other seafarers’ welfare societies and shoreside personnel. In 2023, our intention is to make this course more seafarer friendly with the aim of training seafarers directly. |WeCare||| |---|---|---| ||Number of seafarers and family
members trained in 2022|2,436| ||Seafarers with access to the
courses in 2022|85,241| |SafeTALK||| ||No. of Suicide Alert Helpers
trained|180| ||No. of organisations that
received training|28| ## **Provision** Strategic aim: we will seek to resource ministry fairly and appropriately, while building a sustainable future, recognising that longer-term financial dependency on IHQ is not viable. Over the next five years we will seek to achieve: - A significant reduction in operating deficits - Comprehensive and urgent progress towards financially self-sustaining regions. This process to be supported by IHQ action. - Clarity, transparency and equity in allocating funding (ports and projects), guided by the strategy and underpinned by improved criteria, clear application procedures, quality reporting and overseen by a further developed Trustee Programme Committee. - Development of a wider (beyond-UK) fundraising programme, including enhanced support for local and regional fundraising. - Significant progress in partnering with shipping and maritime industry corporates as a key resource for support and funding, including the exploration of new approaches to funding. �� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 STRATEGIC REPORT** This was a more challenging year financially, compared to the immediate previous years. Our reserves took a major hit with a £3.5m unrealised investment loss and, as expected, income levels were lower in comparison to the two previous exceptional years. However, our undergirding fundraising trends remained highly positive, with strong income across most streams, including corporate, legacy, individual donations and events. Community and church fundraising has begun to recover post-COVID-19. Two new positions were added to the Development team in line with strategy, one in data and one in communications, which has assisted the whole team. The communications team continued to target new audiences, contributing to enhanced individual and corporate donations. We aimed to increase the numbers of new digital donors by 100% in 2022 compared to 761 new digital donors in 2021 and achieved 526 (69%). We will continue to aim for a 100% increase in subsequent years. We continued to prioritise building our corporate funding from within the shipping industry. Our chief vehicle for this was the Sustaining Crew Welfare Fund, building on the major successes of 2021. An outstanding fundraising event from Eastern Pacific Shipping raised over Sing$1.5m, contributing to a very wide variety of Mission projects globally. Work continued to develop fundraising more intentionally beyond the UK, expanding on existing corporate audiences in Asia (with very extensive work on the major 2023 Adventure Race Japan during 2022 and significant sponsorship funds already received during the year.) Planning also began in relation to future development in the USA. The fifth year of our major annual Singapore Dinner and International Awards continued to grow. Our Trustees continue to look strategically at all aspects of our financial performance. Following our External Governance Review, the Board revisited and reaffirmed the parameters which guide our financial planning and our approach to sensibly reducing reserves. We continued to support our Regions in their fundraising **.** This included delivering a comprehensive media and fundraising training to all Regional Directors. The setting up of a media representational group is in its fledgling stage. ## **Partnership** Strategic aim: we will prioritise partnerships to ensure efficient, collaborative and coordinated delivery of care to seafarers. Over the next five years we seek to achieve: - Leadership at global, regional and local level in promoting intentional, collaborative partnerships for the delivery of care to seafarers. - Further progress towards working in consultation and active partnership wherever possible – with ports, maritime welfare providers, mission organisations, the maritime industry and with churches. - Building on current strengths, demonstrable progress in increasing global and regional church engagement. In 2022 we continued to be significant funders and supporters of ICMA (the International Christian Maritime Association) and our Secretary General completed 4 years as their chairman (a role fully funded by Mission to Seafarers’ Trustees). We also continued to build local, regional and national working relationships with key welfare colleague societies. We agreed a formal partnership with the Deutsche Seemannsmission (DSM) to co-operate in Panama (including with a new shared joint-post), we informally agreed with DSM for some shared work in Africa from 2023, we established a new joint chaplaincy role in Tilbury/London Gateway, UK, with Queen Victoria Seaman’s Rest and concluded work with Stella Maris and Sailor’s Society to re-establish three UK Ecumenical Centres under new Queen Victoria Seaman’s Rest leadership. ## **Possibilities** Strategic aim: we will inspire, encourage and resource our global Mission family in exploring and pioneering new opportunities, looking boldly and creatively towards the next horizon. Over the next five years we will seek to achieve: - Significant progress towards a more entrepreneurial culture with a range of demonstrable outcomes. - Clear advances in using new technology to enhance seafarer welfare, in seafarer-facing work, in fundraising and in training. �� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 STRATEGIC REPORT** Significant work was carried out in 2022 in developing our new seafarer welfare app, which will go live in early 2023. Our £750,000 commitment to grow ship visitation across all regions opened up a significant range of new possibilities, many of which (as above) were realised in 2022. Of particular importance was the launch of a comprehensive plan to grow our work in the USA, in line with welfare need. ## **2023 Objective and activities** In 2023 we anticipate substantial growth in the use of our centres as “shore leave” provision increases and the impact of the pandemic on seafarers continues to ease. However, as stated above there will be some continued effect through both regulation and seafarer behaviour, especially in some of the countries in which we work. Flexibility will be necessary, together with an emphasis on exploring new models, both of Mission infrastructure and changed patterns of working. We will continue to prioritise proactive ship visitation. The lingering impacts of COVID-19, ongoing conflict in Ukraine, wider international tensions and global financial and political uncertainties will combine with an industry undergoing change, not least through increasing automation, to ensure unpredictable levels of potential change and disruption. Seafarers are often hit first and hardest. ## **Programme** ## Ports: We will continue with our modernisation of our port-based working, with relevance and sustainability a driving factor at regional and local level, to include: - Support for ongoing centre modernisation, in line with changing need. Explore use of mobile centres, with first example due to be rolled out in Rotterdam in 2023. - Further development of our “key hub” programme, focused on existing and new ports where research dictates efforts should be enhanced in relation to maximising access to seafarers and building a multiskilled team-based approach. Rotterdam to be the initial focus in 2023. - Building on 2022 work, complete the regional ship visitation enhancement programme – ports identified in 2022 across all nine regions. - Middle East and South Asia Region (MESA) to be a special focus for “greatest need” port development. One new MESA operation to be established in 2023, with a further two to follow. Lebanon, Saudi Arabia and Yemen will be a focus for development research. - Revisit delayed “superyacht” crew support programme. - Continue to support detailed strategic plans across all Regions. ## Wider programme: - Increase the number of WeCare trainers in the Philippines, able to train more seafarers in financial literacy and communication - Contextualise our existing suicide awareness programme to make it relevant for the maritime industry - Develop a Family Network in India, specifically in Tuticorin - Build on existing work in monitoring and evaluation to further train our teams in the importance of “telling our story” ## Training and Governance: - Continue to develop our global governance to meet the highest professional, legal, and ethical standards promoting transparency and accountability at all levels. - Further training for our frontline staff in individual and group crisis intervention and the provision of specialised acute emergency mental health intervention. - Building on 2022 work, continue to develop a safety culture across the organisation with annual Health and Safety refresher training across the organisation and specialised training for key roles. - Measure the environmental impact of our day-to-day operations, reduce our emissions in line with annual targets and offset unavoidable emissions. - Publish our first ESG report detailing our approach to sustainable maritime welfare and our efforts to partner with stakeholders to contribute towards environmental sustainability. �� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 STRATEGIC REPORT** ## **Provision** - The Flying Angel Campaign 2023 will be launched as a vehicle for corporate fundraising, with an aim of raising US$ 700,000. - The Adventure Race Japan will be held in May, with the aim of raising over US$750,000 net (as well as introducing us to an extensive range of new partners). - We will continue to build on our digital donor acquisition programme. - As part of our programme to devolve fundraising beyond the UK we plan to appoint a new fundraiser in the UAE, and will be taking early steps in building fundraising capacity in the USA, in line with our expansion of port work there. - Building on media training given in 2022, our communications team aim to increase global coverage by enhanced collaboration with the regions. ## **Partnership** - Continue to strengthen relationships with key maritime bodies. - Launch new partnership with Deutsche Seemannsmission in Panama, supplementing our existing work. - Explore further shared operational partnerships with colleague societies. - Proactively seek out new partnership opportunities at all levels, including within maritime and in relationship to our colleague Church of England “Partner in World Mission” agencies. ## **Possibilities** - Develop our new seafarer welfare app to become a market leader in its field. - Further adopt new technology to improve the routes by which seafarers can access welfare. - Explore new opportunities for welfare provision in Poti, Georgia. - Explore further MOUs between the Mission and a Nation State to provide welfare across a territory. - � Explore expansion of our service provision across the United States. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 FINANCIAL REVIEW** ## **2022 – Income and expenditure** The Consolidated Statement of Financial Activities is shown on page 27. In 2022, the net movement in funds was a deficit of £4,166,000 (2021: gain £6,897.000). The main reason was due to a 2022 unrealised investment loss of £3,509,000 (2021: gain £3,383,000) and in 2021 we were very thankful to receive an exceptional legacy of almost £3m, which was not repeated in 2022. Overall, 2022 was a difficult year for both the UK and wider economies and total income is down at £4,945,000 (2021: £8,607,000 – but, without the exceptional legacy 2021, income was £5,807,000). Income from trading with seafarers has fallen to £204,000 (2021: £327,000) but much of this is because we were able to distribute £232,000 of donated SIM cards to seafarers free of charge, which is included in both income and expenditure as a Gift in Kind. Overall general donations are up slightly at £1,680,000 (2021 £1,470,000) due to the continued support of donors, more local activity being undertaken as the threat of COVID-19 has receded and successful appeals. There was no major fundraising campaign in 2022 to follow on from the 2020 and 2021 successful _Flying Angel Campaign_ and the _Sustaining Crew Welfare_ initiative and general grants are down at £760,000 (2021: £959,000). Donations, grants and legacy income, together with investment income make up the Mission’s principal funding sources and represent 90% of total income (2021: 92%). They are a major contribution to funding the cost of the Mission’s charitable activities. Total operating expenditure increased by £640,000 (12.7%) to £5,697,000 (2021: £5,057,000) as, post COVID19, there were a number of staff movements and new appointments hence staff costs have increased. Also work began on the first year of the new strategy with research and the launch of the new global Ship Visitors programme. Expenditure for charitable activities increased by £525,000 (12%) to £4,780,000 (2021: £4,255,000) and the costs of Raising Funds increased by £115,000 (14%) to £917,000 (2021: £802,000) as events and activities were able to resume post COVID-19. An analysis of expenditure is given in note 8 to the Financial Statements. The proportion of total expenditure that the Mission considers to be of a charitable nature is 84% (2021: 84%). The Mission’s investment portfolio concluded the year with a loss of £3,509,000 (2021: gain £3,383,000). However, unrealised investment gains or losses reflect market movements during the year and are not cash surpluses or deficits. They are not available to fund expenditure unless and until the investment is finally sold. Fluctuations in the stock market can impact on the Mission’s reserves as can be clearly shown by the result for 2022. Investment income improved by 22% to £871,000 (2021: £712,000) as interest rate rises have contributed to higher returns. The Mission participates in various pension schemes. Some are defined contribution schemes with no liabilities at the year end and others are multi-employer, defined benefit schemes where the Mission’s ongoing liability at the year end was £nil (2021: £16,000). The net loss before investment and foreign exchange gains for the Mission’s four (2021: four) subsidiaries is £5,000 (2021: loss £20,000). With their total reserves of £140,000 (2021: £143,000) the Trustees confirm that one is in deficit (2021: none) with the Dunkirk War Memorial Trust, which was not operational in 2022, suffering investment losses of £13,000 (2021: gain £14,300). See notes 2 and 17.2 for further information about the subsidiaries. ## **Balance sheet** The Mission’s group balance sheet shows that net assets have decreased by £4.2m to £39.7 million (2021: £43.9 million) and are made up of; _Restricted reserves_ £833,000 (2021: £922,000) (see Note 20) _General reserves_ £23.1 million (2021: £26.3 million) _Designated reserves_ £15.8 million (2021: £16.6 million) which are not available for general purposes. (See note 21) ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 FINANCIAL REVIEW** ## **Reserves** The Mission’s policy is to maintain general reserves to reflect the long-term nature of its work. As the temporary custodians of these reserves, Trustees feel that it is essential that they leave The Mission to Seafarers in a state where it can continue for as long as seafarers need it and there are no signs of this need diminishing. During 2022 the Trustees discussed and reviewed the policy and have reconfirmed that they continue to believe that general reserves should not fall below a total of three year’s expenditure. Based on the 2023 budget, that figure equates to £18.2m. General reserves at the year end are £23.1m (£4.9m above the minimum required) and Trustees confirmed that there should be a continued, intentional and responsible utilisation of reserves over the strategic period, within agreed parameters. This will be achieved through a targeted reduction of deficit budgets with the aim of attaining long-term financial sustainability but allowing for intentional strategic expenditure and/or a response to unforeseen circumstances In the opinion of the Trustees, a minimum of three year’s expenditure continues to be required to meet future working and capital requirements having taken into account the following factors: - The Mission seeks to operate in a proactive manner, to make commitments in terms of manpower, resources and premises for the long term and to provide a reserve of funds sufficient to support operations at locations worldwide where it operates. There are continuing indications that some of the Mission’s operations overseas, which endeavour to be self-funding, are struggling to maintain essential services. The Mission to Seafarers is committed to the principle of maintaining its worldwide support of seafarers and to retaining a sufficient level of funds to give stability to its work, including the provision of emergency financing where necessary for these activities. - In 2022 legacy income was £1,067,000 (2021: £4,728,000). Whilst the Mission has benefited from legacies in the past and hopes to do so in the future, legacy income cannot be relied upon as a continuing and certain source of incoming resources. The Trustees have, therefore, made allowance for the uncertainties that arise from legacy income. - In line with the planned, phased reduction in reserves, The Mission to Seafarers anticipates continuing net cash deficits arising from insufficient cash being raised. These deficits will be funded from investment reserves. The Trustees have made allowance for the risk that future adverse movement in the market value of investments may impact on the ability to meet operating cash flow requirements and have revised their investment policy to mitigate this risk, including holding a minimum of one year’s expenditure in cash. - Changes in law may impose costs, such as in the area of pensions, where obligations may arise to ensure that current and retired employees are not significantly disadvantaged. The level of the unrestricted general reserves has provided some protection to the Mission and allows time to adjust to changing financial circumstances. This has limited the risk to service provision from operating deficits, such as the Mission has experienced in recent years, or an unexpected need for unbudgeted expenditure. Indeed, during the COVID-19 pandemic in 2020 and 2021 this has provided protection and security for the Mission from the impact of COVID-19 as a proportion of investments were sold to provide enough cashflow to ensure that the Mission remained a going concern whatever the performance of stock markets. In 2022, the Mission’s reserves allowed additional unbudgeted funds to be provided to respond to the needs of seafarers and their families resulting from the war in Ukraine. The reserves also helped to weather the impact of investment losses as global stock markets respond to the conflict and economic pressures. ## **Going concern** The Trustees consider that it is appropriate for the Financial Statements to be prepared on a going concern basis as they believe that the current level of reserves and cash holdings at the date of signing will enable the Mission to survive the continuing impact of the COVID-19 pandemic and any impact from the war in Ukraine. They will also ensure that the Mission can continue to be able to support seafarers for the foreseeable future. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 FINANCIAL REVIEW** ## **Risk Management** The Board of Trustees has overall responsibility for risk management and maintains a Risk Register. This is included in the remit of the Audit and Risk Committee and continually monitored by the Senior Management Team. The Risk Register identifies risks which: - could have a serious impact on the viability or survival of the Mission - estimates the likelihood of such an event occurring - assesses the impact it would have if it occurred - identifies what controls are already in place to reduce the impact or probability of the event occurring - � identifies what else could be done to reduce the probability or potential impact - identifies the person(s) responsible for monitoring the risk and taking appropriate action. The Register is reviewed as needed, but annually as a minimum. It was reviewed extensively by the Audit and Risk Committee in November and some risks were expanded and/or repositioned based on the score of each risk. One risk relating to Section 75 pension liability was downgraded to the Operational Risk Register for monitoring by Management while a new risk relating to the Mission’s external advisers not acting in its best interests or suffering internal failures was added. The possibility of a cyber-attack was identified as a growing area of global concern, elevating Information Technology risk on the Register. Appropriate mitigating measures were added including the development of a Cyber Incidence Response Plan. The principal risks that the Mission faces and the actions it takes to mitigate these risks are that: - It is unable to raise sufficient funds to permit it to maintain or expand the services it offers to seafarers to meet the level of need identified. It was feared that this risk would materialise as a result of the impact of the Pandemic. However, fundraising performed exceptionally well in the two Pandemic years and has now returned to more normal levels. The reserves position remains strong although there is extreme volatility in the market and inflation has soared. The Finance Working Group which began meeting informally during the COVID-19 pandemic now meets often, usually monthly, to analyse the Mission’s financial position and advises the Board accordingly. Additionally, budgets and income forecasts are being updated regularly with an emphasis on reducing costs where possible and close financial monitoring is in place through forecasts, management accounts and oversight of the Audit and Risk committee. - An employee, volunteer or any other individual who comes into contact with the Mission’s work becomes subject to sexual harassment or abuse as a result. The Mission’s main resource in delivering services is its staff and volunteers who are subject to reference checks prior to engagement and DBS checks where appropriate. Staff and volunteer handbooks provide guidance and information on behaviour with training and on-going performance reviews to ensure that staff maintain the highest of standards. A Safeguarding and Professional Conduct Policy has been devised and implemented, supported by appropriate training. A Safeguarding Working group has been established with a Safeguarding lead trustee and deputy nominated. Adoption and implementation of this policy is a condition included in MOUs for all grants provided by the Mission. There are also contingency damage limitation plans in place. ## **Investment Policy** The Mission holds investments to help meet its current and future obligations and as a reserve against future shortfalls between income and expenditure. It is intended to hold reserves for the long term as the need to provide support and care to seafarers is not diminishing and it is expected that the Mission’s activities, including long term housing commitments to retired employees and Church of England pension obligations, will continue for many years. The overall aim of the Mission in holding investments is to produce the best financial return within an acceptable level of risk, in order to protect the long-term reserves against inflation and produce regular flows of funds to support fixed costs and operating activities both in the UK and overseas. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 FINANCIAL REVIEW** The investment reserves are divided into: - reserves expected to be held for a long-term time horizon (more than 3 years) to provide a total net annual return which exceeds inflation plus 5% over a five-year period - those held for the short to intermediate term (0 to 3 years) to preserve the capital value with a minimum level of risk. These assets should be readily available to meet anticipated cash flow requirements. In the implementation of this policy, the Trustees follow the Charity Commission guidance for the investment of charitable funds. Additionally, the Mission does not wish to profit directly from, or provide capital to, activities that are materially inconsistent with Christian values. This is ensured as the Trustees also follow the guidelines of the Church of England’s Ethical Investment Advisory Group which may prohibit or limit the investment in stocks with exposure to certain sectors, such as armament and tobacco. The Trustees will select one or more professional investment management firms to manage its investments in line with this policy. Such appointments can be in the form of bespoke agreements to manage the Mission’s portfolio on a segregated basis, or via investments in pooled vehicles. The Investment Committee will from time to time make recommendations to the Board on the best approach to use, based on its assessment of the relative merits of each. The Investment Committee also performs the oversight of the Investment Managers and periodically reviews their performance, commercial terms and overall services and, if appropriate, makes recommendations to the Board for any change. This policy was reviewed in 2022. ## **Investment Portfolio** CCLA, which is regulated by the Financial Conduct Authority, is the investment manager for the Mission’s funds. The assets have been invested with CCLA in the CBF Church of England Investment Fund (Investment Fund) which is a multi-asset common fund worth over £1,900 million as at 31 December 2022 and benefits from charitable status. Investment in the Investment Fund is based on the purchase of units that can be bought or sold at any time. The prime objective of the Investment Fund is to protect and grow the real value of the capital invested and the income that it provides and it is managed in accordance with the policies of the Church of England’s Ethical Investment Advisory Group and therefore fits with the Mission’s investment policy. ## **Investment Performance** In 2022 the total return net performance for the Mission’s investments managed by CCLA was a loss of 9.16% (2021: gain 17.46%) and the performance of the comparator* was a loss of 10.12% (2021: gain 16.96%). Gross dividend yield was 2.99% (2021: 2.64%) based upon mid-market price and an annual dividend of 61.79p (2021: 59.99p). (*Comparator - composite: from 01.01.21 MSCI World 75%, MSCI UK Monthly Property 5%, iBoxx £ Gilts 15% & SONIA 5%.) ## **Fundraising** The Development team at the London IHQ is responsible for fundraising, communications and marketing. The team has continued to build upon the previous year’s results in generating a substantial level of income for the charity whilst working around the continuing challenges that the COVID-19 pandemic has placed on fundraising activities. Our marketing and communications obligations have also continued to increase the profile of the Mission across the wider global maritime world, increasing awareness of our work and the reliance that we all have on seafarers. Total fundraised income at IHQ for 2022 was £3,451,000 (2021: £6,234,000) a decrease of £2,783,000 (45%) which is mainly due to decreased legacy income £1,033,000 (2021: £4,279,000) following the previously mentioned £2.8m exceptional legacy received last year. We are very grateful to those supporters who made these commitments, sometimes many years ago. We also thank those who have pledged legacies during the year. This is a valuable source of income for us. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 FINANCIAL REVIEW** Donations are received from individuals, churches, fundraising committees, grant giving bodies, trusts and corporates, especially those in the maritime sector. Some donations are linked to specific appeals such as the regular Lent, Summer, Christmas and Sea Sunday activities or specific events and campaigns such as the 2021/2 _Sustaining Crew Welfare Campaign_ . Some individuals and teams undertake challenge events and we were pleased to see the continued support of Graig100 and IMO Richmond Bike rides, along with an inaugural Golf Day with Hayfin. We were grateful to receive £332,000 as a result of the EPS Global Fundraiser, which raised overall S$1,5m with a large contribution going to Singapore and the wider Asia Region. Our partnership with the UKP&I Club continues into a fifth year, with support for the WeCare programmes. These programmes have continued to steadily grow within a manageable level, with a combination of online and face-to-face delivery. The new _SafeTalk_ was started but we expect to see an increased delivery of this in 2023. Work with HFW continues to provide vital pro bono and fundraising support, for which we are so very grateful and we deeply appreciate all the companies, trusts, foundations and individuals who have continued to support us so generously to help seafarers in so much need. Our regular and individual giving for 2022 was a valuable £482,000 (2021: £493,000). The Events team has been busy planning the 2023 Adventure Race Japan and are pleased that in-person events are increased in 2022 as mentioned above with income £136,000 (2021: £118,000) and that the successful bike ride ‘The Graig 100’ and the annual Festival of Nine Lessons and Carols service at All Hallows in London were able to take place again. Post COVID-19 other areas of fundraising have increased as more activities have resumed with Community fundraising £149,000 (2021: £94,000) and Trusts and Foundations income at £630,000 (2021: £523,000). We also greatly assisted the global Mission family by providing trust expertise, the value of which does not appear in these accounts. Our Communications Officer was promoted to Communications Manager and the new Communications Assistant is supporting her well. This will help us focus our communications into a more targeted approach using analytical skills building upon the past two years’ successes. The communications agency Blue has played an important role in supporting us and ensuring that our responses to journalist and media opportunities are targeted and focused. As we enter 2023, we are continuing to shape our communications activity, to ensure the most efficient delivery of this activity to the IHQ team and the wider global Mission in line with the Global Strategy. The Mission is a contributor to the Fundraising Regulator who regulates fundraising in England and Wales with the aim of protecting donors to charities and ensuring that fundraising is respectful, open, honest and accountable to the public. In accordance with The Charities (Protection and Social Investment) Act 2016 we confirm that: - The Mission carefully monitors all of its fundraising activities to ensure that they are compliant with the recognised standards of fundraising (as set out in the Code of Fundraising Practice) and that none were undertaken by a professional fund-raiser or commercial participator on behalf of the Mission - The Mission is bound by and complies with the Fundraising Regulator’s voluntary regulation scheme - No complaints were received about our fundraising activities (2021: none) - All fundraising activities are overseen by the Director of Development who ensures that the Mission’s fundraising activities do not include: - Unreasonable intrusion on a person’s privacy - Unreasonable persistent approaches for the purpose of soliciting a donation or - Placing undue pressure on a person to give money or other property. ## **Environment, Social, Governance** The Mission to Seafarers is treating the Environment, Social, Governance (ESG) agenda and its responsibilities with great seriousness. Trustees and senior management are keeping it at the forefront of our thinking and it has already been heavily discussed, including with external input. We seek alignment with best practice. The ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022** ## **FINANCIAL REVIEW** Social and Governance aspects are well advanced in terms of current policies and operations. Environmental policies and practice are the focus of current thinking and planning. An Environmental Action Group, with global representation, has been meeting since November 2021 and will be making recommendations. It will be our aim to ensure that appropriate policies and cultures are in place globally. We are conscious that our global carbon footprint has been much reduced through the pandemic period (2020 and 2021). Severe restrictions on travel, vehicle usage, staff commuting and centre usage have all been key factors. As we emerge into more “normal” times we are seeking appropriate measurements, benchmarks and policies. Environmental responsibility is seen as a core value and is contained within the new strategy. The Mission to Seafarers plans to roll out ESG reporting annually in stages from 2023 (for the 2022 year). ��� **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 CHARITY INFORMATION** A charity registered in England and Wales, no.1123613 A company limited by Guarantee, registered in England and Wales no. 6220240 ## **President** Her Royal Highness The Princess Royal ## **Vice Presidents** Esben Poulsson Grahaeme Henderson ## **Trustees** |Thomas Boardley - Chairman|[*GN]| |---|---| |Rosemary Alexander(to 7 July 2023)|[*A] [I]| |The Ven Christopher Burke - Vice Chairman (to 30 January 2023)|[GN]| |Gary Chapman (from 30 January 2023)|[*A]| |Robert Ferris OBE|[A] [G]| |Alexandra Harwood (from 27 April 2023)|[A] [I]| |William MacLachlan
|[GN] [R]| |David Moorhouse CBE - Vice Chairman(to 30 January 2023)|[GN]| |The Ven Michael Power (from 30 January 2023)|| |Neale Rodrigues MM - Vice Chairman (to 30 January 2023)|[R] [GN]| |Timothy Smith (from January 2022)|| |Claire Sneddon|[G] [R]| |Sam Swire|[*G]| |The Very Revd Andrew Tremlett|[*R] [GN]| |Peter Cottrell|[*I] [GN]| |The Right Revd David Williams – Vice Chairman|[G] [GN]| ## **Company Secretary** Jayne Rose (to 30 November 2022) Dorothy Osarenren (from 30 January 2023) ## **Key Management Personnel** ## **Secretary General** |**Secretary General**|| |---|---| |The Revd Canon Andrew Wright|[G] [GN]| |**Chief Operating Officer**|| |Tomilayo Toluhi|[G]| |**Director of Programme**|| |Ben Bailey|| |**Director of Development**|| |Jan Webber|| |**Director of Finance**|| |Eileen Reilly|[I]| ## **Committees** ## ***Denotes the Chair of the relevant Committee** **G. Grants and Programmes Committee (Formerly Grants Committee) GN. Governance and Nominations Committee** **R. Remuneration Committee** Helen Averill (External) **I. Investment Committee** Jim Aiken (External) Paul Jeffries (External) **I. Investment Committee** ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 CHARITY INFORMATION** ## **A. Audit and Risk Committee** Rachel Lawton (External) ## **Custodian Trustee** The Mission to Seafarers Trust Corporation Ltd acts as a custodian trustee on behalf of The Mission to Seafarers holding real estate property and investments. ## **Joint Corporate Trustee** The Mission to Seafarers is a joint corporate trustee of; - Humber Seafarers’ Service, Charity No. 1159953 - Felixstowe and Haven Ports Seafarers’ Service, Charity No. 272077 (to 25 July 2023) - � Port of Bristol Seafarers Centre, Charity No. 286078 (to 25 July 2023) ## **Registered Office** First Floor, 6 Bath Place, Rivington Street, London EC2A 3JE ## **External Advisers** ## **Auditors** Price Bailey LLP, 3rd Floor, 24 Old Bond St, Mayfair, London W1S 4AP ## **Bankers** HSBC Plc, 20 Eastcheap, London, United Kingdom, EC3M 1ED ## **Investment Advisers** CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET ## **Solicitors** Blake Morgan LLP, New Kings Court, Tollgate, Chandler’s Ford, Eastleigh, United Kingdom, SO53 3LG HFW, Friary Court, 65 Crutched Friars, London, EC3N 2AE ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 GOVERNANCE, STRUCTURE AND MANAGEMENT** ## **The Mission to Seafarers; the charity** The Mission is a charity, constituted as a company limited by guarantee and not having share capital. The Mission is governed by a Board of Trustees (the Board) which forms the Board of Directors. Members of the Board are both Trustees of the charity and directors of the company, as constituted by the Mission’s _Articles of Association_ . The current Articles of Association are dated 19 August 2022. ## **The charity’s Trustees and management** The Board is drawn from prominent leaders with wide experience of seafaring life, including the shipping industry and from London’s financial centre, the City of London. The Mission also invites leading members of the clergy to serve as Trustees. The procedure for the election and appointment of Trustees is set out in the _Articles of Association of The Mission to Seafarers_ . Trustees and management regularly review the skills and experience of the current members of the Board to try to identify new candidates who might strengthen particular areas. Following an External Governance Review in 2022, the normal period a trustee can serve was changed from two terms of four years each to three terms of three years each. In exceptional circumstances, this can be extended to four terms, with annual re-election during the last term. The maximum period a trustee can serve is twelve years. The Board requires a quorum of five Trustees and normally meets four times a year. It is the governing council of the organisation. Newly appointed Trustees are given an induction which provides them with information on the work of the organisation and highlights their responsibilities as a trustee. Some Trustees may also undergo specific training courses as required for their roles. Trustees are also required to sign a _Code of Conduct_ and complete a _Register of Interests_ on appointment and annually thereafter. The Board has five permanent sub-committees: - Audit and Risk - Grants and Programme - Governance and Nominations - Investment - Remuneration Each of the above committees is made up of Trustees and members of the executive staff. Where appropriate, the Board may co-opt independent and professional expertise from external sources, for the benefit of a committee's work. The day to day management of the charity is delegated to the Secretary General who reports to the Board and leads the Senior Management Team. The Secretary General also directly manages the Regional Directors for Europe, East Asia, Middle East and South Asia (formerly South Asia & the Gulf) and Latin America. The Mission to Seafarers’ International Headquarters takes a leading role in designing and rolling out processes to improve unity, protect the “brand”, deliver global projects and agree strategic objectives for the Mission to Seafarers’ global family. In addition, it provides a support function for the regions by disseminating information, conducting research, providing fundraising, brand and marketing services, and managing publications and digital media, including websites. The Secretary General – amongst other duties – provides the spiritual leadership for the Ministry teams which support seafarers in need around the world. The Mission is entirely funded by voluntary donations and relies on the deep generosity of loyal supporters. ��� **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 GOVERNANCE, STRUCTURE AND MANAGEMENT** ## **Delivery structure of direct Mission activities** ## **- Regional network** The Mission to Seafarers’ regional network is made up of nine regions: - Europe � Middle East and South Asia - � East Asia � Latin America and the Caribbean � USA � Canada � Australia � Oceania (New Zealand and South Pacific Islands) � Africa As stated above the Regional Directors of four of these regions, Europe, East Asia, Middle East & South Asia and Latin America, are directly managed by the Secretary General and so are responsible to the Mission Trustees. The remaining five are made up of independent Mission charities with their own governing councils (except for the USA, where size does not justify one). They work closely with the Mission and co-operate on matters of welfare provision and communications. They are responsible for their own financial affairs and statements. These independent regions provide a dynamic and responsive welfare service for seafarers, working in partnership with the four Mission regions. In 2022 the Mission continued to provide grant-funding to all independent regions to support regional development. Through the regional network, the Mission was able to give support and advice at around 150 ports through the independently run Mission to Seafarers’ charities and organisations as part of the global Mission family. Parttime honorary chaplains appointed by the Mission also provided support for seafarers and were a point of contact for emergencies. The role of the honorary chaplain varies with the port and country in which the chaplain is located, but it is a key voluntary support system, which taps into local maritime knowledge and skills. ## **– Global network** The Mission to Seafarers welfare services to seafarers in the regions detailed above were provided through directly salaried, or grant-funded, port-based chaplaincy and/or ship visitor teams in the following areas, with ‘memoranda of understanding’ in place at all key locations: |**Port/Area**
**Directly**
**Employed By**
**The Mission**
**Grant Funded And**
**Directly Managed By**
**The Mission**
**Grant Funded, Managed**
**By Independent**
**Organisations/Regions**|**Port/Area**
**Directly**
**Employed By**
**The Mission**
**Grant Funded And**
**Directly Managed By**
**The Mission**
**Grant Funded, Managed**
**By Independent**
**Organisations/Regions**| |---|---| |Antwerp, Belgium|�| |Aqaba, Jordan|�| |
Bahrain Port|�| |Baltimore, USA|�| |Bangkok, Thailand|�| |Belfast, N Ireland|�| |Buenos Aires, Argentina|�| |Busan, South Korea|�| |Cape Town, SA|�| |Costa Rica|�| |Colombo, Sri Lanka|�| |Dubai, United Arab Emirates|�| |Felixstowe, UK|�| |Hong Kong, China|�| |Humber, UK|�| |Israel|�| |Izmir, Turkey|�| |JNPT, India|�| |Liberia|�| |Limassol, Cyprus|�| |
Lyttelton, New Zealand|�| |Mombasa, Kenya|�| |
Nelson, New Zealand|�| |Panama|�| |Port Elizabeth|�| |Port Talbot & Milford Haven, UK|�| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 GOVERNANCE, STRUCTURE AND MANAGEMENT** |Richards Bay,SA|�| |---|---| |Rotterdam, The Netherlands|�| |Rouen, France|�| |Said & Suez Ports, Egypt|�| |
Scottish Ports, UK|�| |Seattle, USA|�| |Southampton, UK|�| |South Wales Ports, UK|�| |Suape, Brazil|�| |Tilbury, UK|�| |
Tuticorin, India|�| |Yangon, Myanmar|�| |
Yokohama & Tokyo, Japan|�| ## **- Branches** In addition to, and in conjunction with chaplaincy services, charitable activities were carried out by the Mission’s 15 (2021: 14) branches, the majority of which provide centre-based facilities. They are directly controlled by the Mission through local employees and the excellent and committed work of local volunteer committees, governed by Branch Constitutions. The branches employ 10 (2021: 8) staff paid from IHQ and 16 (2021: 8) staff employed locally, excluding their six chaplains who are included in the table above. Their financial results are consolidated into the Financial Statements set out on pages 28 to 31 of this report and they operate in the following locations; Aqaba, Jordan Belfast, UK Dubai, United Arab Emirates, UK Falmouth, UK Fowey, UK Humber Ports, UK Newport, UK Panama, Latin America Manila, Philippines Port Talbot, UK South Shields, UK South Wales ports, (Welsh Council), UK Tees (North), UK Tees (South), UK Bangkok, Thailand ## **- The Mission group** The Mission to Seafarers’ group includes the following companies, which are classified as subsidiaries. Their financial results are consolidated into these accounts and they are wholly controlled by the Mission; - The Dunkirk War Memorial Trust Ltd. - The Flying Angel Belfast Ltd. - The Mission to Seafarers Scotland Ltd. - The Mission to Seafarers Trust Corporation Ltd. The subsidiaries employ no staff (2021: 4 staff were employed until November 2021 when the operations in Dunkirk ceased). Please see Note 2 for further information about the above subsidiaries and their 2022 results. ## **- Ecumenical** Many of the global family of charities, seafarers’ centres and organisations work in partnership through local ecumenical networks, and in some cases co-owned property, via their membership of ICMA. In the UK, the Mission participated in Ecumenical centres where it was a joint trustee and directly involved in their management until 30 June 2022 when those centres were transferred to a new maritime charity. Further information is provided in note 23. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 GOVERNANCE, STRUCTURE AND MANAGEMENT** ## **Remuneration** We recognise that we are accountable to our donors, supporters and beneficiaries and we are committed to ensuring maximum value in the use of resources. We also take our duty to provide a high quality and effective service very seriously. It is dependent upon our ability to attract and retain suitably qualified employees with the right knowledge, skills and experience. The Remuneration Committee, which consists of three Trustees and one external member, has delegated responsibility from the Board to provide governance oversight on the principles and policies for setting pay and benefits within the charity. The Committee conducts an annual salary review based on forecast charity pay awards which are linked to the Retail Price Index (RPI) and the Consumer Prices Index (CPI). Any inflationary awards or salary adjustments are subject to affordability. Job descriptions are evaluated based on The Mission to Seafarers’ Job Factor Framework, which consists of seven agreed organisation-wide criteria, to establish the grade of the role based on the job size, complexity and level of responsibility. The salaries of chaplaincy staff employed from IHQ are set with reference to the Church of England National Stipend Benchmark and chaplaincy roles in other sectors. Lay staff salaries within the UK are benchmarked against the Croner Charity Rewards annual survey. Locally employed chaplains and lay staff are paid a fair wage based on local levels. The Remuneration Committee has adopted a policy of paying median salaries compared to charities of a similar size and nature, to ensure competitiveness. The Committee approved a policy of paying all staff above the Real Living Wage which was implemented from 2015. The Committee is also responsible for setting the salary of the Secretary General. Accordingly, the Trustees consider that the remuneration policy of the charity is fair and transparent. ## **Public Benefit** The activities, achievements and plans relating to the Mission’s work are detailed in pages 2 to 16 of this report and the Trustees confirm that they are carried out, in line with its charitable object and objectives, for the benefit of the public. They further confirm that the impact of our work on service users is a key criterion when deciding what activities to undertake and how best to achieve our mission. The Mission to Seafarers’ Trustees therefore confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. ��� THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2022 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees {who are al￿ dhrectors of The Mission to seafare￿ for the purwses of company law} a responsible for preparing the Trustees. Annual Report ineluding the Strategic Report} and the financial Statements in accordance wrth applicable law and Unrted Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Practice). Company law reqUI￿S the Trustees to prepare financial statements for each financsal year. Under that law the directors have elected to prepare the financral statements in accordance with United Kingdom Generally Accepted Accounting PraCt￿e (Unrted Kingdom Accountsng Standards and applicable lawl. Under company law the directors must not approve the financial slalemenls unless they are satisfied that they give a tiue and fair view of the stale of affairs of the charrtable company and of the inC￿nIng resources and application of resour￿$. Including the Income alld expenditure. of the Charitab￿ company for that period. In Pfeparing these financ￿1 statements, the Trustees are required to: select suitable accounting policies and then appty them ￿SiStent￿. observe the methods and pnnciples in the Charities SORP FRS102120191,' make judgements and accounting estimates th* are reasonable and prudent.. state whether applicable UK Accounting Standards have been followed. subject to any material departures disdosed and explained in the financial statements". p￿pare the financial statements on the 90in9 cOn￿M basis unless it is inappropriate to presume that Ihe chantable cc4mpany will continue in c¢)eTalion. The Trustees are responsible for keeping adequate accounting records thal are suffiu'ent lo show and explain the charitable company s transaclior15 and disdose wrth ￿8$Onable accuracy at any time the Iinancial p05rtion of the groLSP and chantable ccrfnpany and enable them lo ensure that the financial statements comply wrth the Companies Act 20(￿. They are also Tesponsible for saleguarding the assets of the charrtable company and hence for taking reasonable steps for the prevention and detection of fraud 8nd other iffegularitses. The Trustees are responsib￿ for the maintenance and integTty of the corporate and financial infoTrn81ion included on the charitable company 5 websrte. Legis￿￿ In the Unrted Kingdom goveming the preparation and dissemination of financk41 slatements may differ from legislati)n in other jurisdictions. In so far as the Tru51ees are ware. there is no relevant audrt inf0m￿lon of which the charrtable company's auditor is unaware.. and the Trustees have taken all steps that they ought lo have tsken to make themselves aware of any relevant audrt inlomialion and lo eslablish that the auditor is aware of that infomiation. 2023 and signed on its behaw by". Approved and aulhorised for issue by the 8oard on Thomas 8oardley Chairman of the Board Gary Chapman Chairman Audit and Risk Committee 21 S8Pt8mber 2023 I, -w JA25 23 ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE MISSION TO SEAFARERS** ## **Opinion** We have audited the financial statements of The Mission to Seafarers (the ‘parent charitable company’) and its subsidiaries (the 'group') for the year ended 31 December **2021** which comprise of the Group Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheet, the Group Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 December 2022, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the group financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the Trustees annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: ��� **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE MISSION TO SEAFARERS** - the information given in the Trustees' report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the strategic report has been prepared in accordance with applicable legal requirements ## **Matters on which we are required to report by exception** 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 not identified material misstatements in the strategic report and the directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been 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 - certain disclosures of directors’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit ## **Responsibilities of Trustees** As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for 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 Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor responsibilities for the audit of the financial statements** We have been appointed auditor under the Companies Act 2006 and report in accordance with those Acts Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 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 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We gained an understanding of the legal and regulatory framework applicable to the Charitable Group and the sector in which it operates and considered the risk of the Charitable Group not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements, including financial reporting, and tax legislation. In relation to the operations of the Charitable Group this included compliance with the Charities Act and SORP 2019, GDPR, employment law, safeguarding and health & safety. The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following: Reviewing minutes of Board meetings, reviewing any correspondence with the Charity Commission, agreeing the financial statement disclosures to underlying supporting documentation, enquiries of management and ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022** ## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE MISSION TO SEAFARERS** officers of the Charitable Group and a review of the risk management processes and procedures in place. We have also reviewed the procedures in place for the reporting of any incidents to the Trustee Board including serious incident reporting of these matters as necessary with the Charity Commission. Management override: To address the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness. We reviewed systems and procedures to identify potential areas of management override risk. We also assessed management bias in relation to the accounting policies adopted and in determining significant accounting estimates, including treatment of legacies and grant income, and the valuation of investments. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **Use of our report** This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the parent charitable company’s Trustees, as a body, in accordance with the act. Our audit work has been undertaken so that we might state to the parent charitable company’s members and its Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company’s members as a body and the parent charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed. ## _**Helena Wilkinson BSc FCA DChA (Senior Statutory Auditor)**_ For and on behalf of **Price Bailey LLP** Chartered Accountants Statutory Auditors 3rd Floor, 24 Old Bond St, Mayfair, London W1S 4AP Date: 22 September 2023 ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING A CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AT 31 DECEMBER 2022** |**Notes**
**Income:**
Donations and legacies
3
Charitable activities
_(Provision of services to_
_seafarers)_
4
Other trading activities
_(Commercial Trading)_
5
Investments
6
Other
7
**Total income**
**Expenditure:**
Raising Funds
_(commercial trading and_
_Fund raising activities)_
Charitable activities
_(Provision of services to_
_seafarers)_
**Total**
**Expenditure**
8
**Net (expenditure)/income**
**from operational**
**activities for the year**
**Net (losses)/gains on**
**investments**
**Net (expenditure)/income**
**for the year**
Transfers between funds
20
**Other recognised**
**(losses)**
Foreign Exchange
gains/(losses)
**Net Movement in Funds**
**Reconciliation of Funds**
Total funds brought forward
**Total Funds Carried**
**Forward**
21|**Unrestricted**
**Funds**
**£’000**
**3,034**
**204**
**260**
**871**
**33**
**4,402**
**917**
**4,183**
**5,100**
**(698)**
**(3,509)**
**(4,207)**
**35**
**95**
**(4,077)**
**42,934**|**Unrestricted**
**Funds**
**£’000**
**3,034**
**204**
**260**
**871**
**33**
**4,402**
**917**
**4,183**
**5,100**
**(698)**
**(3,509)**
**(4,207)**
**35**
**95**
**(4,077)**
**42,934**||**Restricted**
**Funds**
**£’000**
**543**
**-**
**-**
**-**
**-**
**543**
**-**
**597**
**597**
**(54)**
**-**
**(54)**
**(35)**
**-**
**(89)**
**922**
**833**|**Total**
**2022**
**£’000**
_Unrestricted_
_Funds_
_£’000_
**3,577**
_6,663_
**204**
_327_
**260**
_239_
**871**
_712_
**33**
_81_
**4,945**
_8,022_
**917**
_802_
**4,780**
_3,493_
**5,697**
_4,295_
**(752)**
_3,727_
**(3,509)**
_3,383_
**(4,261)**
_7,110_
**-**
_35_
**95**
_(36)_
**(4,166)**
_7,109_
**43,856**
_35,825_
**39,690**
_42,934_|**Total**
**2022**
**£’000**
_Unrestricted_
_Funds_
_£’000_
**3,577**
_6,663_
**204**
_327_
**260**
_239_
**871**
_712_
**33**
_81_
**4,945**
_8,022_
**917**
_802_
**4,780**
_3,493_
**5,697**
_4,295_
**(752)**
_3,727_
**(3,509)**
_3,383_
**(4,261)**
_7,110_
**-**
_35_
**95**
_(36)_
**(4,166)**
_7,109_
**43,856**
_35,825_
**39,690**
_42,934_|

||_Restricted_
_Funds_
_£’000_
_585_
_-_
_-_
_-_
_-_
_585_
_-_
_762_
_762_
_(177)_
_-_
_(177)_
_(35)_
_-_
_(212)_
_1,134_|_Restricted_
_Funds_
_£’000_
_585_
_-_
_-_
_-_
_-_
_585_
_-_
_762_
_762_
_(177)_
_-_
_(177)_
_(35)_
_-_
_(212)_
_1,134_|_Total_
_2021_
_£’000_
_7,248_
_327_
_239_
_712_
_81_
_8,607_
_802_
_4,255_
_5,057_
_3,550_
_3,383_
_6,933_
_-_
_(36)_
_6,897_
_36,959_
_43,856_| |---|---|---|---|---|---|---|---|---|---|---|---| |||**4,402**||||_8,022_|||||| |||**917**
**4,183**
**5,100**
**(698)**
**(3,509)**
**(4,207)**
**35**
**95**
**(4,077)**
**42,934**||||_802_
_3,493_
_4,295_
_3,727_
_3,383_|||||| ||||||||||||| ||||||||||||| |||||||_7,110_|||||| |||||||_35_
_(36)_
_7,109_
_35,825_|||||| |||||||||||_(212)_|| |||||||||||_1,134_|| |||**38,857**||||_42,934_||||_922_|| All activities are continuing except for the Dunkirk War Memorial Trust which ceased operations in France on 30 November 2021 (see Note 2.1). Notes 1 to 29 form part of these Financial Statements. ��� THE MISSION TO SEAFARERS TRUSTEES. ANNUAL REPORT AND ACCOUNTS 2022 CONSOUDATED BALANCE SHEET AT 31 DECEklBER 2022 Company Number 6220240 Notes Unrestricted Funds Restricted Funds £'ooo Total 2022 £'ooo 109 Total 2021 Intsngible Fixed Assets Fixed Assets Tangible assets Investments 16 23 94 16 17 4,027 26.541 428 4.311 29,849 26.S41 Total fixed assets 30.591 514 31.105 34,254 Current A¥sets st￿ks Debtors Investments- short temi deposits Cash al bank and in hand 18 908 7.477 18 74 830 7,199 1,936 18 7.477 1,263 319 Total current assets 9.347 319 9.666 9,979 LiabS1itles Cfeditors falling due within one year 19 1.081 1.081 361 Net current assets 319 8.$86 9,618 Net assets excluding pension Ilabllity Multi4mployer defined benefit 15 deficit funding provision 38.857 833 39.690 43,872 16 Totsl net assets 38.857 833 39.690 43,856 Charity Funds Unrestricted general Unrestricted designated Restricied income funds 21 21 20 23.086 15.771 23,086 15,771 833 26,339 16.595 922 833 Total Charity Fund5 38.857 833 39,690 43,856 Approved and authorised for issue by the Board on 2023. SwJned on its behalf by.. Thoma oardley Chairnian of the Board 14LknL3 Gary Chapman 21 Septernber 2023 Chairnian Audit and Risk Gomrnittee Notes 110 29 fonn part of these Financial Statements. 28 THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2022 COMPANY BALANCE SHEET AT 31 DECEMBER 2022 Company Number6220240 Notes Unrnstri¢ted Funds Restrict Funds £'ooo Total 2022 £'ooo 109 Total 2021 £'ooo Intangible Fixed Assets Fixed Assets Tangible assets Investments 16 23 16 17 4,027 26.441 428 4,455 26,441 4.311 29, T35 Totsl fixed assets 30,491 514 31,005 34.140 Current Assets Slocks Debtors Investments- short term deposits Cash al bank and in har 17 17 13 18 1.109 7,477 706 1,109 7.477 1.02S 1,198 7,199 7.509 319 Total current assets 9.309 319 9.628 9.919 Llabillties Creditor5 falling due within one year 19 1.083 1.083 330 Net current assets 8.226 319 9,589 Net assets excluding penslon liability Multiryernployer defined benefrt deficit funding provisio 38.717 833 39,550 43. T29 t6 Total net assets 38.717 833 39,550 43,713 Charlty Funds Unreslricled general 23.086 23.086 26,339 Unreslricled designated Reslricted income fund$ 15.631 15,631 833 76.452 922 20 833 Total Charity Funds 38,717 833 39,550 43,713 Approved and aulhorised for issue by the Board on 2023. Signed on its behalf by: Thomas Boardley Chainnan of the Board Gary Chapman 21 S8Ptemb8r 2023 Chaiman Audll and Rlsk Commlttee 2('4L &LS Note$ 1 to 29 form part of these Financial SL￿ernents. ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 CONSOLIDATED STATEMENT OF CASH FLOWS AT 31 DECEMBER 2022 Company Number 6220240** |**Notes**
**Cash flows from operating activities:**
**_Net cash (used in)/provided by operating activities_**
25
**Cash flows from investing activities:**
Dividends and interest from investments
Proceeds from the sale of assets
Purchase of assets
Purchase of investments
Proceeds from sale of investments
**Net cash provided by/(used in) investing activities**
**Change in cash and cash equivalents in the**
**reporting period**
Cash and cash equivalents at the beginning of the
reporting period
Change in cash and cash equivalents due to exchange rate
movements
**Cash and cash equivalents at the end of the reporting period**||**2022**
**£’000**
**(933)**
**871**
**25**
**(250)**
**(215)**
**12**
**443**
**(490)**
**9,135**
**95**
**8,740**|_2021_
_£’000_
_2,580_
_712_
_477_
_(133)_
_(3,257)_
_-_| |---|---|---|---| ||||_(2,201)_| ||||_379_
_8,792_
_(36)_
_9,135_| Notes 1 to 29 form part of these Financial Statements. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **1. ACCOUNTING POLICIES** The Mission to Seafarers (the Mission) a company limited by guarantee (No. 6220240) and a charity (No. 1123613) both registered in England and Wales. The registered address is First Floor, 6 Bath Place, Rivington Street, London EC2A 3JE. The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the Financial Statements are shown below and the presentational currency of the financial statements is Sterling. ## **1.1 Basis of preparation** The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: _Statement of Recommended Practice_ applicable to charities preparing their accounts in accordance with the _Financial Reporting Standard_ applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (SORP (FRS102)) and the _Companies Act 2006_ . The Mission to Seafarers meets the definition of a public benefit entity under FRS102. The Financial Statements have been prepared in sterling and rounded to the nearest thousand pounds under the historical cost convention (modified to present investments at market value) and in accordance with applicable UK accounting standards. ## **1.2 Going concern** At the balance sheet date the Trustees consider that there are no material uncertainties about the Mission’s ability to continue as a going concern. The most significant areas of adjustment and key assumptions that affect items in the accounts are to do with estimating legacy income. With regard to 2023, the most significant areas of uncertainty for the Mission are the level of donation income which needs to be raised each and every year, especially as the impact of COVID-19 is ongoing and the level of the fine to be imposed following the sentencing hearing scheduled for 24 November 2023 (see Note 29 Provision). However, the Trustees feel that the level of reserves provides resilience and that, together with the current amount of cash in hand plus plans to closely monitor and review budgets, there are no material uncertainties that the Mission can continue as a going concern. ## **1.3 Group Financial Statements** The Financial Statements consolidate the results of the charity and its wholly owned subsidiaries detailed in note 2 on a line-by-line basis and by eliminating intra-group transactions. No separate Statement of Financial Activities has been presented for the Company alone, as permitted by section 408 of the _Companies Act 2006_ . A summary company ‘Statement of Financial Activities’ (SoFA) can be found at note 28. The Company’s Balance Sheet on page 29 includes the assets and liabilities of the branches detailed on page 21. ## **1.4 Fund accounting** Unrestricted funds are available to spend on activities that further any of the charitable objectives of the Mission. Designated funds are unrestricted funds which the Trustees have decided at their discretion to set aside to use for specific purposes. The aim and purpose of each designated fund is set out in note 21. Restricted Funds represent capital grants received together with donations for specific purposes. Restricted funds may only be used to fulfil the donor’s restriction which must also further the charitable activities of the Mission. Details of restricted funds are set out in note 20. Transfers to unrestricted funds represent the release for the year of these grants or donations. For capital grants, a transfer is made to unrestricted funds over the estimated useful lives of the assets to which they relate, matching depreciation charged to the unrestricted funds. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **1.5 Income** The value of all income is recorded in the Statement of Financial Activities (SoFA) as soon as the Mission is legally entitled to the income, it is probable that the income will be received and the amount can be quantified with reasonable accuracy. Where income has related expenditure, the income and expenditure are reported gross in the SoFA. Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the Mission is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end are accounted for in income and accrued in debtors. Legacies are recognised at the earlier of actual receipt or on receipt of Estate accounts which confirm the Mission’s entitlement to receive the gifts, the probability of receipt and provide an accurate measure of the legacy. If the legacy is in the form of an asset other than cash or an asset listed on a recognised stock exchange, recognition is subject to the value of the asset being able to be reliably measured and title to the asset has passed to the Mission. The Mission maintains a legacy pipeline system which, in addition to accrued legacies, includes further estimated legacies of which the Mission is aware but which do not meet the above criteria and are therefore not included within these accounts. The estimated value of those legacies in the pipeline is £1,000 (2021: £23,000). Event income received in advance for a future fundraising event or a grant received relating to the following year are deferred until the criteria for income recognition are met. Interest on deposit funds and dividends on investments are recognised when the amounts can be measured reliably which is normally upon notification of the amount paid or payable by the bank or when the dividend yield has been notified by our investment advisors. Sponsorship from events, fundraising and events registration fees are recognised in income when the event takes place. Trading income, including primary purpose sales to seafarers, is recognised at the point of sale. ## **1.6 Expenditure and irrecoverable VAT** Expenditure is accounted for on an accruals basis and is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Operating lease costs are charged on a straight line basis over the lease term. Irrecoverable VAT is charged to support costs which are then reallocated to the headings on the SoFA. See note 8 for a further analysis of expenditure. Charitable expenditure comprises expenditure directly relating to the objects of The Mission to Seafarers. It includes: - Employment and associated costs of chaplains including recruitment and training - Advice to the Mission family and linked organisations worldwide - Services to seafarers such as providing transport, communication facilities and access to centres or specific projects to address the needs of seafarers. - The costs of educational material and information for seafarers together with the newspaper for seafarers, _the Sea._ Support costs such as irrecoverable VAT, depreciation and governance costs (including secretarial and administrative support from the Mission’s International Headquarters) are allocated to Charitable Activities and Costs of Raising Funds on the basis of head count at International Headquarters. (See note 9) Governance costs comprise amounts related to constitutional and statutory requirements and include Staff costs, audit fees, professional fees and Trustees’ expenses. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **1.7 Donated services** Donated services or facilities are recognised when the Mission has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the item is probable and that economic benefit can be measured reliably. ## **1.8 Volunteers** Volunteers make a valuable contribution to the charitable activities of the charity. With approximately 200 volunteers working in centres, transporting seafarers and ship visiting, they complement and enhance the work of our chaplains and staff in serving seafarers. No financial value is included in these accounts as it is impossible to measure but their priceless contribution to the Mission is further referred to throughout in the _Trustees’ Annual Report and Accounts_ and specifically in ‘Our Mission’ on page 2. ## **1.9 Fixed assets** Intangible fixed assets are non-monetary assets which will be amortised on a straight-line basis over the useful life of the asset. - Licence: deemed to have an indefinite life and disposed of in 2021 - Happy at Sea seafarers’ app: amortised over three years. Intangible and Tangible fixed assets are stated in the Balance Sheet at historical cost less amortisation/depreciation. Assets with a cost of less than £1,000 are written off in the year of purchase. Depreciation is provided on a straight line basis over the anticipated useful life of fixed assets as follows: - Motor vehicles: four to six years - Fixtures and equipment: between five and ten years - Short leasehold buildings: over the term of the lease - Computer equipment: three years - Freehold land and properties: Where the Trustees consider that the expected useful life of freehold land and buildings is in excess of 50 years and the carrying value in the Financial Statements is not more than the estimated recoverable amount, no depreciation is charged. The Trustees have carried out and will continue to carry out annual reviews of impairment for land and property. An asset will be considered impaired if the deemed value in use or the net realisable value is lower than the carrying value. Its carrying value will be written down to the deemed impaired value. For impaired assets, evidence of increased value up to a maximum of the historic cost will be recognised in the accounts. ## **1.10 Revaluation of tangible fixed assets** The Mission has not adopted the revaluation model for freehold property and those assets are recognised at the lower of their historical cost or impaired value. ## **1.11 Investments** Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the bid-market rate, as reported by the investment managers. The Trustees confirm that the difference in the value of investments between their valuation policy and the closing market valuation required by SORP (FRS102) is immaterial. Net gains and losses on revaluation and disposals throughout the year are shown in the SoFA. The Mission does not acquire put options, derivatives or other complex instruments. All gains and losses are taken to the SoFA as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the 1 January. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the SoFA. The main form of financial risk faced by the Mission is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment concerning equities and within particular sectors or sub sectors. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **1.12 Stocks** Stocks are valued at the lower of cost and net realisable value. ## **1.13 Debtors** Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. ## **1.14 Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.15 Creditors** Creditors are recognised where the Mission has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. ## **1.16 Concessionary loan** The Mission has taken advantage of section 34 of FRS (102) to recognise the loans to its trading subsidiaries as concessionary loans as the subsidiaries and the Mission form a public benefit entity group. The loans are recognised and measured at the amount paid. The carrying amount will be adjusted to reflect any repayments or any accrued interest and adjusted if necessary for any impairment. Note 18 details all concessionary loans. ## **1.17 Financial instruments** The Mission only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Fixed assets are recorded at depreciated historical cost and investments are recorded at fair value, being the closing bid price. All other assets and liabilities are recorded at cost which is their fair value. Investments are also recorded at fair value and note 17 details all unrealised gains and losses. ## **1.18 Pension costs** All employees are entitled to join a pension scheme. The Mission to Seafarers makes contributions to defined benefit and defined contribution ‘money purchase’ schemes. The defined benefit schemes are two Church of England multi-employer pension schemes and, other than the deficit funding, the pension schemes are accounted for as defined contribution schemes in accordance with FRS102. They are now only open to ordained chaplains. Although it is not possible to separately identify the assets and liabilities of the schemes attributable to the Mission a recovery plan with agreed deficit recovery payments has been put in place. Details of the Mission’s liability for both schemes of £Nil (2021: £16,000) are given in note 15. The money purchase plan is managed by Royal London (formerly Scottish Life) and the plan invests the contributions made by the employee and employer in an investment fund to build up over the term of the plan. The fund is then converted into a pension upon the employee’s chosen retirement age. The Mission has no liability beyond making its contributions and the deductions for the employee’s contributions. Following the implementation of The Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010, The Mission commenced auto-enrolment from 1 March 2015, deferred to 1 June 2015 using NOW. However, following the April 2019 increase of the employee’s minimum contribution to 5%, this scheme was closed and staff were eligible to join the Royal London scheme. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **1.19 Foreign currency translation** With the exception of investments, transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Foreign currency investment transactions are recorded at an average rate. For overseas branches and subsidiaries, income and expenditure is recorded at an average rate for the year. Monetary assets and liabilities are shown in the balance sheet at the sterling rate ruling at the balance sheet date. Exchange gains and losses are recognised in the Statement of Financial Activities. ## **1.20 Taxation** The Mission to Seafarers is considered to pass the tests set out in Paragraph 1 Schedule 6 of the _Finance Act 2010_ and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Mission is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the _Corporation Tax Act 2010_ or Section 256 of the _Taxation of Chargeable Gains Act 1992_ , to the extent that such income or gains are applied exclusively to charitable purposes. ## **1.21 Judgements and key sources of estimation uncertainty** No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies. The Trustees make estimates and assumptions concerning the future based on their knowledge of the Mission and the environment in which it operates. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual outcome. ## **2. SUBSIDIARY AND CONNECTED UNDERTAKINGS** See note 17.2 for Investments in subsidiaries. ## **2.1 The Dunkirk War Memorial Trust Ltd Company No. 185130, Charity No. 236806** The Dunkirk War Memorial Trust Limited (DWMT) was set up in 1922 as a charity to provide premises and facilities for the use of seafarers within the port of Dunkirk, France. DWMT is effectively controlled by virtue of the directors being former Trustees or are senior employees of The Mission to Seafarers. On 30 November 2021 operations in Dunkirk were closed as they were no longer economically viable. |Donations
Other trading
Investment Income
Charitable activities
Other income
**Total Income**
Raising funds
Charitable activities
**Total Expenditure**
Net income/(expenditure)
Net gain/(loss) on investments
Foreign exchange gain/(loss)
**Net Loss Retained in Subsidiary**|**2022**
**£’000**
**-**
**-**
**4**
**-**
**7**
**11**
**-**
**(10)**
**(10)**
**1**
**(13)**
**2**
**(10)**|_2021_
_£’000_
_51_
_-_
_3_
_102_
_69_| |---|---|---| |||_225_| |||_(3)_
_(246)_| |||_(249)_| |||_(24)_
_14_
_(16)_| |||_(26)_| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **2.2 Flying Angel Marketing Enterprises Ltd (FAME) Company No. 00933115** The Mission to Seafarers owns the whole of the issued share capital of FAME. One trustee and a current director of the Mission sit on the board of FAME but receive no remuneration for doing so. FAME is a retailer and distributor of Christmas cards and novelties and is party to any commercial agreement that is not considered a charitable activity of The Mission to Seafarers. Any taxable profit from trading is gifted to The Mission to Seafarers. |Turnover
Cost of Sales
**Gross Profit**
Administration
Donation to The Mission to Seafarers
**Net Gain Retained in Subsidiary**|**2022**
**£’000**
**2**
**-**
**2**
**(2)**
**-**
**-**|_2021_
_£’000_
_2_
_-_| |---|---|---| |||_2_| |||_(2)_
**_-_**| ## **2.3 The Flying Angel Belfast Ltd Company No. NI605252** The Flying Angel Belfast Ltd was set up to operate catering services in The Mission to Seafarers’ Belfast premises. All the shares in this company are owned by The Mission to Seafarers. Any taxable profit is gifted to The Mission to Seafarers. |Turnover
Cost of sales
**Gross Profit**
Administration
Donation to The Mission to Seafarers
**Net Gain Retained in Subsidiary**||**2022**
**£’000**
**9**
**(3)**
**6**
**(6)**
**-**
**-**|_2021_
_£’000_
_4_
_(3)_| |---|---|---|---| ||||_1_| ||||_(1)_
_-_| ||||_-_| ## **2.4 The Mission to Seafarers Scotland Ltd Company No. SC389483, Charity No. SCO41938** The Mission to Seafarers Scotland Ltd was set up as a company limited by guarantee and a registered charity in Scotland to raise funds and deliver services to seafarers and their families in Scotland. The Mission to Seafarers is the sole member |Donations
Charitable activities
Other trading
**Total Income**
Raising Funds
Charitable activities
**Total Expenditure**
**Net Gain Retained in Subsidiary**|**2022**
**£’000**
**90**
**16**
**3**
**109**
**(3)**
**(99)**
**(102)**
**7**|_2021_
_£’000_
_134_
_24_
_-_| |---|---|---| |||_158_| |||_(1)_
_(153)_| |||_(154)_| |||_4_| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **2.5 The Mission to Seafarers Trust Corporation Ltd (MTSTC) Company No. 38498** MTSTC holds real property and investments as custodian trustee on behalf of The Mission to Seafarers. It has no transactions on its own account. All the shares are owned by the Mission. ## **3. DONATIONS AND LEGACY INCOME** |**Unrestricted**
**Funds**
**£’000**
**Restricted**
**Funds**
**£’000**
General donations
**1,560**
**120**
Legacies
**1,067**
**-**
General grants
**337**
**423**
Vote 4_(Pension note 15)_
**70**
**-**
**Total**
**3,034**
**543**|**Unrestricted**
**Funds**
**£’000**
**Restricted**
**Funds**
**£’000**
General donations
**1,560**
**120**
Legacies
**1,067**
**-**
General grants
**337**
**423**
Vote 4_(Pension note 15)_
**70**
**-**
**Total**
**3,034**
**543**|**2022**
**£’000**
**Total**
**1,680**
**1,067**
**760**
**70**
**3,577**|_Unrestricted_
_Funds_
_£’000_
_Restricted_
_Funds_
_£’000_
_1,462_
_8_
_4,728_
_-_
_382_
_577_
_91_
_-_
_6,663_
_585_|_2021_
_£’000_
_Total_
_1,470_
_4,728_
_959_
_91_| |---|---|---|---|---| ||**543**|||_7,248_| ## **4. CHARITABLE ACTIVITIES INCOME** |Provision of services to seafarers
**Total**|**2022**
**£’000**
**204**
**204**|_2021_
_£’000_
_327_| |---|---|---| |||_327_| There was no restricted charitable activity income in 2022 or 2021. ## **5. TRADING ACTIVITIES INCOME** |Trading activities
Fundraising events
Property rental
**Total**|**2022**
**£’000**
**107**
**102**
**51**
**260**|_2021_
_£’000_
_105_
_84_
_50_| |---|---|---| |||_239_| There was no restricted trading activity income in 2022 or 2021. Rental Income represents monies received from properties held as fixed assets that are not fully occupied for The Mission to Seafarers’ own activities and are let out in furtherance of our charitable activities or because they are temporarily surplus to operational requirements. ## **6. INVESTMENT INCOME** |**Listed investments:**
Dividends – equities
Bank deposit interest
**Total**|**2022**
**£’000**
**796**
**75**
**871**|_2021_
_£’000_
_709_
_3_| |---|---|---| |||_712_| There was no restricted investment income in 2022 or 2021. Income from unlisted investments is shown gross, including tax reclaimable. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **7. OTHER INCOME** |Surplus on disposal of properties
Surplus on disposal of other assets
Other
**Total**|**2022**
**£’000**
**18**
**7**
**8**
**33**|_2021_
_£’000_
_63_
_17_
_1_| |---|---|---| |||_81_| There was no restricted other income in 2022 or 2021. ## **8. ANALYSIS OF EXPENDITURE** |**Raising Funds:**
Appeals and events
Commercial trading; sale of
Christmas cards and catering
Promotional materials and media
**Total Raising Funds**
**Charitable activities:**
**Port based welfare services**
Ship visiting and ministry to
seafarers
Transport for seafarers and
ship visiting
Branch and centre operations
Grants to support ministry
around the world (see note 10)
_the Sea_publication for
seafarers
**Advocacy, welfare and**
**emergency response**
**Digital welfare and support**
**Programmes for the wellbeing**
**of seafarers and their families**
**Total Charitable Activities**
**TOTAL EXPENDITURE**|**Direct**
**Costs**
**£’000**
**556**
**7**
**62**
**625**
**1,219**
**112**
**1,061**
**781**
**11**
**478**
**107**
**277**
**4,046**
**4,671**|**Support**
**£’000**
**262**
**2**
**28**
**292**
**228**
**19**
**192**
**149**
**2**
**82**
**20**
**42**
**734**
**1,026**|**Total**
**2022**
**£’000**
**818**
**9**
**90**
**917**
**1,447**
**131**
**1,253**
**930**
**13**
**560**
**127**
**319**
**4,780**
**5,697**|_Direct_
_Costs_
_£’000_
_494_
_6_
_59_
_559_
_1,181_
_182_
_760_
_972_
_13_
_289_
_133_
_112_
_3,642_
_4,201_|_Support_
_£’000_
_217_
_1_
_25_
_243_
_205_
_27_
_119_
_175_
_2_
_39_
_25_
_21_
_613_
_856_|_Total_
_2021_
_£’000_
_711_
_7_
_84_
_802_
_1,386_
_209_
_879_
_1,147_
_15_
_328_
_158_
_133_
_4,255_| |---|---|---|---|---|---|---| |||||||_5,057_| ## **Analysis by department 2022:** |Staff Costs (note 11)
All other costs
**Total**
**expenditure**|**Advocacy/**
**Ministry**
**£’000**
**410**
**306**
**716**|**Comms**
**£’000**
**61**
**131**
**192**|**Regions**
**£’000**
**1,148**
**1,990**
**3,138**|**Fund**
**Raising**
**£’000**
**391**
**234**
**625**|**Support**
**£’000**
**565**
**461**
**1,026**|**Total**
**2022**
**£’000**
**2,575**
**3,122**| |---|---|---|---|---|---|---| |||||||**5,697**| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **Analysis by department 2021:** |_Staff Costs (note 11)_
_All other costs_
_Total expenditure_|_Advocacy/_
_Ministry_
_£’000_
_354_
_396_
_750_|_Comms_
_£’000_
_52_
_131_
_183_|_Regions_
_£’000_
_1,128_
_1,636_
_2,764_|_Fund_
_Raising_
_£’000_
_325_
_179_
_504_|_Support_
_£’000_
_427_
_429_
_856_|_Total_
_2021_
_£’000_
_2,286_
_2,771_
_5,057_| |---|---|---|---|---|---|---| ## **9. ANALYSIS OF SUPPORT COSTS** Support costs not directly attributable to the headings on the Statement of Financial Activities are reallocated on the basis of headcount at the Mission’s International Headquarters as follows; |**2022**
**Basis of**
**apportionment**
Cost of
Charitable
activities
Headcount at
IHQ
Raising
funds
Headcount at
IHQ
**Support costs total**
_2021_
_Basis of_
_apportionment_
_Cost of_
_Charitable_
_activities_
_Headcount at_
_IHQ_
_Raising_
_funds_
_Headcount at_
_IHQ_
_Support costs total_|**Management**
**& admin**
**£’000**
**Finance**
**£’000**
**357**
**145**
**142**
**59**
**499**
**204**
_Management_
_& admin_
_£’000_
_Finance_
_£’000_
_278_
_178_
_117_
_58_
_395_
_236_|**HR**
**£’000**
**91**
**38**|**IT**
**£’000**
**54**
**22**
**76**
_IT_
_£’000_
_37_
_16_
_53_|**Property**
**£’000**
**28**
**11**
**39**
_Property_
_£’000_
_52_
_22_
_74_|**Governance**
**£’000**
**59**
**20**|**2022**
**Total**
**£’000**
**734**
**292**| |---|---|---|---|---|---|---| |||**129**|||**79**|**1026**| |||_HR_
_£’000_
_46_
_20_|||_Governance_
_£’000_
_22_
_10_|_2021_
_Total_
_£’000_
_613_
_243_
_856_| |||_66_|||_32_|| Audit fees included in governance costs for the group amount to £36,600 (2021: £24,600) and there were no other fees in respect of non-audit services (2021: none). Depreciation costs total £93,000 (2021: £44,000). Operating lease payments total £16,600 (buildings £15,700 and other £900), (2021: none). ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **10. MINISTRY AND PROJECT GRANTS** |**Grant recipient**|**Port/Country**|**2022**|_2021_| |---|---|---|---| |||**£’000**|_£’000_| |The Mission to Seafarers Central Resource|Africa region|**86**|_92_| |Committee, SA|||| |Diocese of Argentina|Buenos Aires, Argentina|**51**|_31_| |The Australian Council of The Mission to Seafarers|Australia|**87**|_70_| |The Mission to Seafarers Geraldton|Geraldton, Australia|**-**|_11_| |The Mission to Seafarers Portland|Portland, Australia|**-**|_5_| |The Mission to Seafarers Townsville|Townsville, Australia|**15**|_17_| |St Christopher’s Cathedral., Bahrain|Bahrain|**22**|_22_| |Igreja Episcopal Anglicana do Brasi|Acu, Brazil|**1**|_-_| |The Anglican Diocese of Recife|Suape, Brazil|**18**|_20_| |The Mission to Seafarers Canada|Canada region|**20**|_20_| |The Episcopal Church of Costa Rica|Costa Rica|**2**|_2_| |The Diocese of Cyrus and The Gulf|Limassol, Cyprus|**5**|_37_| |Province of Alexandria for the Anglican Church|Ports Said & Suez,|**6**|_6_| ||Egypt||| |Church Mission Society & Episcopal Diocese of|Ashdod and Haifa,|**-**|_7_| |Jerusalem|Israel||| |Lighthouse Seamen’s Mission|Falklands|**-**|_3_| |Assn Rouennaise Amis Des Marins|Rouen, France|**6**|_6_| |Bombay Diocesan Council|JNPT, India|**-**|_22_| |Tuticorin Nazareth Diocesan Trust|Tuticorin, India|**41**|_73_| |The Mission to Seafarers Kobe|Yokohama, Japan|**22**|_45_| |The Mission to Seafarers Kobe|Tokyo, Japan|**10**|_45_| |The Mission to Seafarers Mombasa|Mombasa, Kenya|**21**|_15_| |The Mission to Seafarers Central Resource|Liberia|**-**|_2_| |Committee, SA|||| |The Mission to Seafarers Yangon|Yangon, Myanmar|**5**|_18_| |The Mission to Seafarers Walvis Bay|Walvis Bay, Namibia|**-**|_44_| |Stichting Zeemanshuis Flying Angel Rotterdam|Schiedam, Netherlands|**11**|_15_| |The Mission to Seafarers Lagos|Nigeria|**9**|_-_| |The Mission to Seafarers Oceania Council|Lyttelton, NZ|**20**|_27_| |The Mission to Seafarers Oceania Council|Napier, NZ|**-**|_34_| |The Mission to Seafarers Oceania Council|Nelson, NZ|**10**|_10_| |The Mission to Seafarers Oceania Council|Oceania region &|**39**|_39_| ||Wellington, NZ||| |Homer Foundation Inc|Philippines|**41**|_37_| |The Mission to Seafarers Oceania Council|Solomon Islands|**-**|_41_| |The Mission to Seafarers Cape Town|Cape Town, South|**4**|_8_| ||Africa||| |The Mission to Seafarers Durban|Durban, South Africa|**-**|_18_| |The Mission to Seafarers Port Elizabeth|Port Elizabeth, South|**19**|_-_| ||Africa||| |The Mission to Seafarers Africa Region|Richards Bay, South|**42**|_7_| ||Africa||| |The Diocese of Busan|Busan, South Korea|**57**|_60_| |The Mission to Seafarers Colombo|Colombo, Sri Lanka|**20**|_23_| |The Diocese in Europe|Izmir, Turkey|**10**|_10_| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** |Church of St John the Evangelist
Izmir, Turkey
Great Yarmouth Seafarers Centre
Great Yarmouth, UK
Queen Victoria Seamans Rest
Tilbury, UK
Bermuda Sailors Home
Bermuda, USA
Baltimore International Seafarers Centre
Baltimore, USA
The Mission to Seafarers Seattle
Seattle, USA
North American Maritime Ministry Association
USA
**Total**|**4**
**15**
**32**
**11**
**10**
**4**
**5**
**781**|_-_
_-_
_10_
_-_
_10_
_7_
_5_
_972_| |---|---|---| The Mission to Seafarers makes grants to maritime organisations whose work will fulfill our charitable objectives. Grants are to support direct maritime ministry, the development of maritime ministry or seafarer welfare projects. Amounts are agreed annually and the terms and amounts will be set out in a Memorandum of Understanding (MoU). Funded organisations are required to report to The Mission to Seafarers annually to ensure that the terms of the MoU have been met. ## **11. STAFF COSTS** |**Staff costs 2022:**
Wages and salaries
Social security costs
Other pension costs
Other Staff costs
**Total**
**Average head count**
**Full time equivalent**
Staff costs 2021:
_Wages and salaries_
_Social security costs_
_Other pension costs_
_Other Staff costs_
_Total_
_Average head count_
_Full time equivalent_|**Charitable**
**Activities**
**£’000**
**1,028**
**118**
**92**
**364**
**1,602**
**43**
**37**
_Charitable_
_Activities_
_£’000_
_1,057_
_131_
_106_
_224_
_1,518_
_38_
_31_||**Raising**
**Funds**
**£’000**
**293**
**34**
**19**
**62**
**408**
**7**
**7**
_Raising_
_Funds_
_£’000_
_273_
_31_
_19_
_18_
_341_
_6_
_6_||**Support**
**£’000**
**376**
**38**
**24**
**127**
**565**
**8**
**7**
_Support_
_£’000_
_308_
_35_
_22_
_62_
_427_
_9_
_9_||**Total**
**2022**
**£’000**
**1,697**
**190**
**135**
**553**| |---|---|---|---|---|---|---|---| ||||||||**2,575**| ||||||||**57**| ||||||||**51**| ||||||||_Total_
_2021_
_£’000_
_1,638_
_197_
_147_
_304_| ||||||||_2,286_| ||||||||_53_| ||||||||_46_| Other staff costs include recruitment, compensation for loss of office, training, welfare of overseas employees, temporary staff and travel related costs. No redundancy costs were made in 2022 (2021: £12,000). Employees with remuneration (excluding benefits in kind) in excess of £60,000: - £60,000 to £70,000 - 0 (2021: 2) • £70,000 to £80,000 - 4 (2021: 3) • £80,000 to £90,000 - 0 (2021: 1) - £90,000 to £100,000 - 1 (2021: 0) ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **12. KEY MANAGEMENT PERSONNEL REMUNERATION AND BENEFITS** The 2022 Senior Management Team comprised the Secretary General, the Chief Operating Officer (formerly Director of Human Resources & Administration) the Director of Development, the Director of Finance and the Director of Programme (formerly the Director of Advocacy and Regional Engagement). The team’s total remuneration and benefits package consisted of salary, pension contributions, health insurance and the tax thereon. |Total salary paid to Senior Management Team
Total of other benefits
Employer social security costs on salary and benefits
**Total**|**2022**
**£’000**
**389**
**40**
**52**
**481**|_2021_
_£’000_
_370_
_43_
_48_| |---|---|---| |||_461_| ## **13. TRANSACTIONS WITH TRUSTEES** No trustee (2021: none) received remuneration during the current year. During the year £1,734 of expenses (2021: £537) were reimbursed directly to one trustee (2021: four Trustees) and £7,294 (2021: £776) was paid to third parties for subsistence to attend meetings of and on behalf of The Mission to Seafarers and for trustee recruitment, business cards and training. £130 was spent on trustee leaving gifts (2021: £65). The total amount paid was £9,158 (2021: £1,378). ## **14. RELATED PARTY TRANSACTIONS** During the year payments were made to two related parties (2021:2). £7,500 was paid to ICMA (2021: £7,500) for membership fee where the Secretary General Andrew Wright was a trustee. £4,676 (2021: £5,550) was paid to Trinity House where trustee Neale Rodrigues was a Younger Brother for room hire for an event. There were no other related party transactions and no outstanding balances (2021: none) due at 31 December. ## **15. PENSIONS** ## **15.1 Multi-employer Defined Benefit Schemes** The Mission to Seafarers participates in two of the Church of England’s Multi-employer Defined Benefits Schemes administered by the Church of England Pensions Board. These are; - The Church of England Funded Pensions Scheme ( **CEFPS** ) for the clergy - The Church of England Defined Benefits Scheme ( **CEDBS** ) for lay employees of Church of England organisations. The assets of both schemes are held separately from those of The Mission to Seafarers. The Church of England Pensions Board has stated that it is unable to identify the Mission’s share of the underlying assets and liabilities as each employer is exposed to actuarial risks associated with the current and former employees of other entities participating in the schemes. The Mission to Seafarers has treated these schemes as multi-employer schemes as described in Section 28 of FRS102. This means that contributions are accounted for as if the Schemes were defined contribution schemes. Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends. The legal structure of the scheme is such that if another Responsible Body fails, The Mission to Seafarers could become responsible for paying a share of that Responsible Body’s pension liabilities. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in the year, plus any impact of deficit contributions. ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **15.2 CEFPS** A valuation of the CEFPS was carried out as at 31 December 2021 and the results revealed a surplus of assets of £560 million with assets of £2,720 million and a funding target of £2,160 million, assessed using the following assumptions: - An average discount rate of 2.7% p.a.; - RPI inflation of 3.6% p.a. (and pension increases consistent with this); - CPIH inflation in line with RPI less 0.8% pre 2030 moving to RPI with no adjustment from 2030 onwards; - Increase in pensionable stipends in line with CPIH; - Mortality in accordance with 90% of the S3NA tables, with allowance for improvements in mortality rates in line with the CMI2020 extended model with a long term annual rate of improvement of 1.5%, a smoothing parameter of 7, an initial addition to mortality improvements of 0.5% pa and an allowance for 2020 data of 0% (i.e. w2020 = 0%). Following the 31 December 2018 valuation, a deficit recovery plan was put in place until 31 December 2022 and the deficit recovery contributions (as a percentage of pensionable stipends) were as follows. |% of pensionable stipends|January 2021 to|January 2018 to| |---|---|---| ||December 2022|December 2020| |Deficit repair contributions|7.1%|11.9%| An interim reduction to deficit contributions to 3.2% of pensionable stipends was made with effect from 1 April 2022. Following finalisation of the 31 December 2021 valuation, deficit contributions ceased with effect from 1 January 2023, since the Scheme was in surplus. Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. However, as there are no agreed deficit recovery payments from 1 January 2023 onwards, the balance sheet liability as at 31 December 2022 is nil. The movement in the balance sheet liability over 2021 and over 2022 is set out in the table below. ## **Deficit liability – CEFPS** |**Deficit liability – CEFPS**||| |---|---|---| |Balance sheet liability at 1 January
Deficit contributions paid
Interest cost
Change to balance sheet liability*
**Balance sheet liability at 31 December**
**Assumptions:**
Discount rate
Price Inflation
Increase to total pensionable payroll|**2022**
**£’000**
**16**
**(8)**
**-**
**(8)**
**-**
**n/a**
**n/a**
**n/a**|_2021_
_£’000_
_39_
_(16)_
_-_
_(7)_| |||_16_| |||_0.0% pa_
_n/a pa_
_(1.5%) pa_| *comprises change in agreed deficit recovery plan and change in discount rate and inflation assumptions between year ends. 10 (2021: 9) of The Mission to Seafarers’ employed chaplains are currently funded by the Archbishops’ Council under Vote 4 provisions. Employer’s contributions of £68,000, representing current contributions and the deficit repair contributions above, (2021: £93,000) were paid by the Mission to the CEFPS and are included in Staff costs (note 11). This amount was reimbursed by the Archbishops Council and is included in Donations (note 3). ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **15.3 CEDBS (also known as the Church Workers Pension Fund)** The Church Workers Pension Fund has two sections known as the Defined Benefits Scheme and the Pension Builder Scheme (which has two subsections; a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014). The Defined Benefits Scheme (“DBS”) section of the Church Workers Pension Fund provides benefits for lay staff based on final pensionable salaries. For funding purposes, DBS is divided into sub-pools in respect of each participating employer as well as a further sub-pool, known as the Life Risk Pool. The Life Risk Pool exists to share certain risks between employers, including those relating to mortality and post-retirement investment returns. The division of the DBS into sub-pools is notional and is for the purpose of calculating ongoing contributions. They do not alter the fact that the assets of the DBS are held as a single trust fund out of which all the benefits are to be provided. From time to time, a notional premium is transferred from employers’ sub-pools to the Life Risk Pool and all pensions and death benefits are paid from the Life Risk Pool. The scheme is a multi-employer scheme as described in Section 28 of FRS 102. It is not possible to attribute DBS assets and liabilities to specific employers, since each employer, through the Life Risk Section, is exposed to actuarial risks associated with the current and former employees of other entities participating in DBS. This means that contributions are accounted for as if DBS were a defined contribution scheme. If, following an actuarial valuation of the Life Risk Pool, there is a surplus or deficit in the pool, further transfers may be made from the Life Risk Pool to the employers’ sub-pools, or vice versa. The amounts to be transferred (and their allocation between the sub-pools) will be settled by the Church of England Pensions Board having taken advice from the Actuary. A valuation of DBS is carried out once every three years. The most recently finalised was carried out at 31 December 2019. In this valuation, the Life Risk Section was shown to be in deficit by £7.7m and £7.7m was notionally transferred from the employers’ sub-pools to the Life Risk Section. This increased the Mission’s contributions that would otherwise have been payable. The overall deficit in DBS was £11.3m (last valuation at 31 December 2016: £26.2m deficit). The next actuarial valuation is due at 31 December 2022. Following the valuation, The Mission to Seafarers entered into an agreement with the Church Workers Pension Fund to pay a contribution rate of 32.7% of pensionable salary and expenses of £3,200 per year. Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The movement in the provision is set out below: ## **Deficit liability – CEDBS** The 31 December 2022 balance sheet liability is £nil (2021: £nil). The legal structure of the scheme is such that if another employer fails, The Mission to Seafarers could become responsible for paying a share of that employer’s pension liabilities. During the year The Mission to Seafarers paid pension contributions and expenses of £14,500 (2021: £10,700). The Mission currently has one (2021: 1) active member and 5 (2021: 5) deferred pensioners. ## **15.4 Defined Contribution Schemes** **Royal London** . A scheme for staff was set up in 2008 with Royal London (formerly Scottish Life). Contributions to this scheme are funded 3% by the employee and 7% by The Mission to Seafarers. There are 29 (2021: 26) members of staff in this scheme at 31 December 2022. Employer contributions to this scheme in 2022 were £70,000 (2021: £67,000) with £8,902 due to be paid at the year end (2021: £nil). ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **16. FIXED ASSETS** |**16.1 Intangible fixed assets**
Cost 1 January 2022
Additions
Disposals
**Net book value**
**31 December 2022**
_31 December 2021_||**Group**
**Company**
£’000
£’000
**94**
**94**
**15**
**15**
**-**
**-**
**109**
**109**
_94_
_94_|**Group**
**Company**
£’000
£’000
**94**
**94**
**15**
**15**
**-**
**-**
**109**
**109**
_94_
_94_| |---|---|---|---| ||||**109**| ||||_94_| ||||| ## **16.2 Tangible fixed assets** |**6.2 Tangible fixed assets**|**6.2 Tangible fixed assets**||||||||| |---|---|---|---|---|---|---|---|---|---| |**Group**
**Cost**
1 January 2022
Additions
Disposals
Transfers
Exchange difference
**31 December**
**2022**
**Depreciation**
1 January 2022
Provided during the year
Disposals
**31 December**
**2022**
**Net book value 31 December**
**2022**
_31 December_
_2021_
None of the property values were found
**The Company**
**Cost**
1 January 2022
Additions
Disposals
Exchange difference
**31 December 2022**|||**Property**
**£’000**
**5,467**
**-**
**(237)**
**-**
**-**
**5,230**
**1,287**
**26**
**(237)**
**1,076**
**4,154**
_4,180_
to be impaired
**Property**
**£’000**
**5,467**
**-**
**(237)**
**-**
**5,230**|**Motor**
**Vehicles**
**£’000**
**275**
**50**
**(46)**
**-**
**2**
**281**
**163**
**47**
**(46)**
**164**
**117**
_112_
(2021: none).
**Motor**
**Vehicles**
**£’000**
**275**
**50**
**(46)**
**2**
**281**|**Motor**
**Vehicles**
**£’000**
**275**
**50**
**(46)**
**-**
**2**||**Fixtures &**
**Equipment**
**£’000**
**815**
**185**
**(119)**
**-**
**-**
**881**
**796**
**20**
**(119)**
**697**
**184**
_19_
**Fixtures &**
**Equipment**
**£’000**
**812**
**185**
**(119)**
**-**
**878**||**Total**
**£’000**
**6,557**
**235**
**(402)**
**-**
**2**
**6,392**
**2,246**
**93**
**(402)**| ||||||**281**||||| ||||||||||**1,937**| ||||||||||**4,455**
_4,311_
**Total**
**£’000**
**6,554**
**235**
**(402)**
**2**| ||||||||||**6,389**| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** |**Depreciation**
1 January 2022
Provided during the year
Disposals
**31 December**
**2022**
**Net book value 31 December**
**2022**
_31 December_
_2021_||**1,287**
**26**
**(237)**
**1,076**
**4,154**
_4,180_|**163**
**47**
**(46)**||**793**
**20**
**(119)**
**694**
**184**
_19_||**2,243**
**93**
**(402)**| |---|---|---|---|---|---|---|---| ||||**164**||||**1,934**| ||||||||**4,455**
_4,311_| ||||**117**||||| ||||_112_||||| ## **Property** |The properties held are split between categories as follows:
Freehold
Long term leasehold
**Total**|**2022**
**£’000**
**2,877**
**1,277**
**4,154**|_2021_
_£’000_
_2,888_
_1,292_| |---|---|---| |||_4,180_| Freehold and leasehold property represents the book value of staff houses, pensioners’ houses, and club and office premises. Premises and club leases are long term with many at peppercorn rent. All assets are used by the charity for its charitable purposes or rented out if temporarily surplus to current operational requirements. ## **17. INVESTMENTS** ## **17.1 Listed Investments** |Market value 1 January
Additions
Disposals
Unrealised (loss)/gain for the year
Market value 31 December
Listed investments
**Total**
Historical Cost at 31 December|**Group**
**£’000**
**29,849**
**215**
**(14)**
**(3,509)**
**26,541**
**26,541**
**21,810**|**2022**
**Company**
**£’000**
**29,735**
**215**
**(13)**
**(3,496)**
**26,441**
**26,441**
**21,731**|_Group_
_£’000_
_23,209_
_3,257_
_-_
_3,383_
_29,849_
_29,849_
_21,595_|_2021_
_Company_
_£’000_
_23,110_
_3,256_
_-_
_3,369_
_29,735_
_29,735_
_21,516_| |---|---|---|---|---| The CCLA’s annual management charge in relation to the CBF Church of England Investment Fund (Investment Fund) is 0.55% (2021: 0.55%) of the value of the portfolio although this was not directly charged to the Mission but against the capital of the Investment Fund. The total ongoing charges figure which includes the annual management charge and other operational costs is 0.77% (2021: 0.77%) ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **Analysis of investments** |||**2022**||_2021_| |---|---|---|---|---| ||**Group**|**Company**|_Group_|_Company_| ||**£’000**|**£’000**|_£’000_|_£’000_| |Holdings in multi asset funds|**26,541**|**26,441**|_29,836_|_29,723_| |Fixed interest securities|**-**|**-**|_12_|_12_| |**Total**|**26,541**|**26,441**|_29,848_|_29,735_| |As part of a multi asset Investment Fund, significant individual||holdings cannot be identified,||however the| |significant class of holdings (over 5%) at 31 December were:||||| ||**2022**||2021|| |Overseas Equities|**48%**||65%|| |Cash and near cash|**25%**||8%|| |UK Equities|**8%**||10%|| |Infrastructure and Operating assets|**6.5%**||6.5%|| **17.2 Investments in subsidiaries** The Company controls the following principal active subsidiaries, the results of which have been consolidated. |**Name of Company**|**Country**|**%**|**No of shares held**|**Net**|**Net Assets**|| |---|---|---|---|---|---|---| ||**of in-**|**Holding/**|**and value**|**Income**|**as at**|**Nature of Business**| ||**corporati**|**Control**||**2022**|**31/12/22**|| ||**on**|||**£'000**|**£'000**|| ||||12 shares; 8 held|||| |The Dunkirk War
Memorial Trust
Ltd|UK|100|by the Mission, 2
held by Mission
directors, 2 held
by other directors|(10)|**(3)**|Provision of
spiritual and
practical welfare
for all seafarers| ||||£12|||| |Flying Angel
Marketing
Enterprises Ltd|UK|100|6 shares
£6|-|**1**|Sales of
promotional goods| |The Flying Angel
Belfast Ltd|UK|100|1 share
£1|-|**-**|Sales of catering
services and
promotional goods| |The Mission to
Seafarers
Scotland Ltd|UK|100|Company limited
by guarantee,
sole member|7|**132**|Provision of
spiritual and
practical welfare
for all seafarers| |The Mission to
Seafarers Trust
Corporation Ltd|UK|100|11 shares
£11|-|**-**|Holds property as
custodian trustee
on behalf of the
Mission| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **18. DEBTORS** |Amounts owed by group/associated undertakings;
Flying Angel Marketing Enterprises Ltd (FAME)
The Flying Angel Belfast Ltd (FAB)
The Dunkirk War Memorial Trust Ltd (DWMT)
The Mission to Seafarers Scotland Ltd (MtSS)
Trade debtors
Prepayments and accrued income
Other debtors
**Total**|**2022**
**Group**
**£’000**
**-**
**-**
**-**
**-**
**187**
**669**
**52**
**908**|_2021_
_Group_
_£’000_
_-_
_-_
_-_
_-_
_172_
_621_
_37_
_830_|**2022**
**Company**
**£’000**
_2021_
_Company_
_£’000_
**2**
_3_
**22**
_20_
**183**
_355_
**-**
_1_
**184**
_161_
**667**
_621_
**51**
_37_
**1,109**
_1,198_| |---|---|---|---| The prepayment and accrued income includes accrued legacies £243,000 (2021: £208,000). A proportion of legacies receivable may be received after more than 1 year, but this figure cannot be determined with any accuracy due to the inherent uncertainty in the timing of legacy income receipt. Amounts due from FAB include a £10,000 (2021: £10,000) concessionary loan made to FAB which is secured and carries a market rate of interest and is repayable on demand. Amounts due from DWMT in 2021 included £188,000 concessionary loan to undertake essential repairs to the centre in Dunkirk. In 2022 £172,000 was repaid and the balance of the loan will be paid in full before the DWMT is wound up, which is expected to be during 2023. ## **19. CURRENT LIABILITIES** |**20. RESTRICTED FUNDS**
Trade creditors
Social security and tax
Accruals and other creditors
**Total**
**Restricted funds 2022**|**2022**
**Group**
**£’000**
_2021_
_Group_
_£’000_
**2022**
**Company**
**£’000**
_2021_
_Company_
_£’000_
**107**
_103_
**106**
_99_
**38**
_70_
**38**
_43_
**936**
_188_
**939**
_188_
**1,081**
_361_
**1,083**
_330_
**Opening**
**Balance**
**£’000**
**Income**
**£’000**
**Expenditure**
**£’000**
**Transfer**
**£’000**
**Closing**
**Balance**
**£’000**|_2021_
_Company_
_£’000_
_99_
_43_
_188_| |---|---|---| |||_330_| |Africa ports (Lagos, Mombasa, Richards Bay,
Saldanha Bay & Port Elizabeth) welfare
support, The Seafarers Charity|**-**
**32**
**(10)**
**-**
**22**|| |Belfast branch building reserve fund|**376**
**-**
**-**
**(8)**
**368**|| |Cadetship project; TK Foundation|**10**
**-**
**(10)**
**-**
**-**|| |Chat to a Chaplain support, The Seafarers
Charity|**-**
**23**
**(23)**
**-**
**-**|| |Christmas welfare for seafarers;
International Transport Workers’ Federation
£7k; ICMA, Mission to Seafarers Rotterdam|**1**
**7**
**(8)**
**-**
**-**|| |Christmas welfare for Ukrainian seafarers;
Baltic Exchange Caledonian Society £14k;|**-**
**14**
**(14)**
**-**
**-**|| |Dubai,UAE Ship visitor and welfare work;
International Transport Workers’Federation|**-**
**47**
**(4)**
**-**
**43**|| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** |**Restricted funds 2022 (continued)**|||||| |---|---|---|---|---|---| |Felixstowe chaplaincy and welfare; Harwich|**-**|**25**|**(11)**||**14**| |Haven Authority|||||| |_Flying Angel Campaign_|**47**|**-**|**(47)**|**-**|**-**| |i.in response to the COVID-19 pandemic;|||||| |Clearwater Foundation and many others|||||| |ii.technical Solutions; TK Foundation, The|**116**|**(26)**|**(90)**|**-**|**-**| |Marine Society, Seafarers UK, Norden|||||| |Shipping, Tindall Riley, Wallem Group, Baltic|||||| |Charitable fund, Trinity House, Ship Owners,|||||| |Vickers and many others|||||| |Great Yarmouth centre; Shell|**-**|**15**|**(15)**|**-**|**-**| |Innovations fund; AET Tankers|**9**|**-**|**-**|**-**|**9**| |Justice & Welfare support, Samaritan Fund &|||||| |Advocacy for the Middle East & South Asia|**8**|**55**|**(49)**|**-**|**14**| |region; The Seafarers Charity|||||| |Lagos centre repairs, Nigeria; International|**35**|**-**|**(9)**|**-**|**26**| |Transport Workers’Federation|||||| |North Tees centre; Merchant Navy Welfare|||||| |Fund|**-**|**5**|**(5)**|**-**|**-**| |Philippines family projects country manager;|**-**|**23**|**(23)**|**-**|**-**| |The Sailors Home Hong Kong|||||| |Philippines family projects; Pacific Basin|**17**|**-**|**(17)**|**-**|**-**| |Shipping|||||| |Philippines family projects and WeCare|**16**|**-**|**(16)**|**-**|**-**| |resources; UK P&I Club|||||| |Philippines family projects Family Day;|**-**|**7**|**(7)**|**-**|**-**| |Singapore Shipowners|||||| |Port costs and advocacy UK; The Seafarers|**90**|**100**|**(90)**|**-**|**100**| |Charity|||||| |Port Talbot building costs; Merchant Navy|**23**|**-**|**-**|**(8)**|**15**| |Welfare Board; Garfield Weston|||||| |The Austin Bailey Foundation, Maurice &|||||| |Hilda Laing Charitable Trust|||||| |Rotterdam Centre; Tritax|**-**|**22**|**(11)**|**-**|**11**| |Rotterdam chaplaincy; individual donors||**6**|**(6)**||**-**| |Seafarers App; Cargill International SA £30k;|**60**|**26**|**-**|**-**|**86**| |The Seafarers Charity £30k; DNV GL £26k|||||| |(capitalised)|||||| |_Seafarers Happiness Index_; Standard Club|**-**|**33**|**(33)**|**-**|**-**| |£14k, Baltic Exchange Charitable Foundation|||||| |£5k and Idwal £14k|||||| |Seattle and Sydney support; Hamburg Sud|**-**|**6**|**-**|**-**|**6**| |Ship visitor, Richards Bay; David Pellatt|**-**|**8**|**(8)**||**-**| |Suicide prevention training & resources;|**28**|**-**|**(28)**|**-**|**-**| |Trinity House £20k, EBM £10k|||||| |Tilbury Ship visitor; David Pellatt|**-**|**22**|**(22)**|**-**|**-**| |Tauranga centre, New Zealand COVID-19|**15**|**-**|**-**|**-**|**15**| |support; TK Foundation|||||| |Vehicles for use in UK Ports; Merchant Navy|**27**|**37**|**-**|**(20)**|**44**| |Welfare Board|||||| |Vehicle running costs Colombo, Singapore|**15**|**15**|**-**|**-**|**30**| |and South Tees; The Baltic Exchange|||||| |Charitable Foundation|||||| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** |**Restricted funds 2022 continued**
Vehicle running costs Saldanha Bay, South
Africa; Anglo American Marketing Ltd|**3**
**4**
**-**
**-**|**7**
**-**
**22**| |---|---|---| |WeCare programme and e-learning resource;
UK P&I club £23k and Kadmos £9k|**-**
**32**
**(32)**
**-**|| |Others
**Total**
_Restricted funds 2021_|**26**
**2**
**(6)**
**-**
**922**
**543**
**(597)**
**(35)**
_Opening_
_Balance_
_£’000_
_Income_
_£’000_
_Expenditure_
_£’000_
_Transfer_
_£’000_|| |||**833**| |||_Closing_
_Balance_
_£’000_| |_Belfast branch building reserve fund_|_384_
_-_
_-_
_(8)_|_376_| |_Cadetship project; TK Foundation _|_43_
_4_
_(37)_
_-_|_10_| |_Christmas welfare for seafarers;_
_International Transport Workers’ Federation,_
_ICMA, Mission to Seafarers Rotterdam _|_6_
_12_
_(17)_
_-_|_1_| |_Coivd-19 relief funding for Oceania and_
_Africa regions; Seafarers’ International Relief_
_Fund_|_-_
_35_
_(35)_
_-_|_-_| |_Dubai,UAE Welfare worker; International_
_Transport Workers’ Federation_|_-_
_43_
_(43)_
_-_|_-_| |_Flying Angel Campaign_
_i.in response to the COVID-19 pandemic;_
_Clearwater Foundation and many others_|_170_
_-_
_(123)_
_-_|_47_| |_ii.technical Solutions; DNV GL, TK_
_Foundation, The Marine Society, Seafarers_
_UK, Norden Shipping, Tindall Riley, Wallem_
_Group, Baltic Charitable fund, Trinity House,_
_Ship Owners, Vickers and many others_|_208_
_-_
_(92)_
_-_|_116_| |_International Labour Organization training re_
_MLC 2006; International Transport Workers’_
_Federation (refunded)_|_4_
_(4)_
_-_
_-_|_-_| |_Innovations fund; AET Tankers_|_-_
_9_
_-_
_-_|_9_| |_Job Retention Scheme; HMRC_|_-_
_12_
_(12)_
_-_|_-_| |_Justice & Welfare support and Samaritan_
_Fund for the Middle East & South Asia_
_region; The Seafarers Charity_|_-_
_46_
_(38)_
_-_|_8_| |_Lagos centre repairs, Nigeria; International_
_Transport Workers’ Federation _|_35_
_-_
_-_
_*_|_35_| |_Newport centre roof repairs; Merchant Navy_
_Welfare Board_|_-_
_5_
_(5)_
_*_|_-_| |_Philippines family projects; Pacific Basin_
_Shipping_|_-_
_22_
_(5)_
_-_|_17_| |_Philippines family projects and WeCare_
_resources; UK P&I Club_|_32_
_19_
_(35)_
_-_|_16_| |_Port costs and advocacy; The Seafarers_
_Charity_|_122_
_90_
_(122)_
_-_|_90_| |_Port Talbot building costs; Merchant Navy_
_Welfare Board; Garfield Weston_
_The Austin Bailey Foundation, Maurice &_
_Hilda Laing Charitable Trust_|_30_
_-_
_-_
_(7)_|_23_| |_Seafarers App; Cargill International SA £30k;_
_The Seafarers Charity £30k_|_-_
_60_
_-_
_-_|_60_| |_Seafarers Happiness Index; Standard Club_
_£12.5k and Wallem Group £10.8k _|_-_
_23_
_(23)_
_-_|_-_| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** |_Restricted funds 2021 continued_
_Ship visitor, Richards Bay; David Pellatt_|_-_
_8_
_(8)_|_-_| |---|---|---| |_Suicide prevention training & resources;_
_Trinity House £20k, EBM£10k _|_-_
_30_
_(2)_
_-_|_28_| |_Tauranga centre, New Zealand COVID-19_
_support; TK Foundation _|_15_
_-_
_-_
_-_|_15_| |_Tuticorin, India seafarers and families_
_emergency feeding programme, Seafarers_
_International Relief Fund_|_-_
_47_
_(47)_
_-_|_-_| |_Vehicles for use in UK Ports; Merchant Navy_
_Welfare Board_|_47_
_-_
_-_
_(20)_|_27_| |_Vehicle for Myanmar; Tritax Management_|_-_
_18_
_(18)_
_-_|_-_| |_Vehicles for Napier and Solomon Isles, New_
_Zealand; International Transport Workers’_
_Federation_|_-_
_65_
_(65)_|_-_| |_Vehicle & mi-fi for Wellington, New Zealand;_
_International Transport Workers’ Federation_
_(refunded)_|_2_
_(2)_
_-_
_-_|_-_| |_Vehicle for Yokohama, Japan; International_
_Transport Workers’ Federation_|_-_
_25_
_(25)_
_-_|_-_| |_Vehicle running costs Colombo, Singapore_
_and South Tees; The Baltic Exchange_
_Charitable Foundation _|_-_
_15_
_-_
_-_|_15_| |_Vehicle running costs Saldanha Bay, South_
_Africa; Anglo American Marketing Ltd_|_-_
_3_
_-_
_-_|_3_| |_WeCare e-learning resource; Prime Training_|_10_
_-_
_(10)_
_-_|_-_| |_Others_
_Total_|_26_
_-_
_-_
_-_
_1,134_
_585_
_(762)_
_(35)_|_26_| |||_922_| Restricted funds (note 1.4) represent capital grants or donations received for specific purposes. For capital grants or donations the transfer to unrestricted funds represents the depreciation charge on fixed assets. |**21. UNRESTRICTED FUNDS**
**Unrestricted funds 2022**
**Designated funds**
Fixed assets
Branches and subsidiaries
African Region Fund
Strategy plan 2022-2026
COVID-19 Emergency
Support Fund
Global Health & Safety &
Training Fund
Commitments to Retired
Chaplains
**Total designated funds**
**General Funds**
**Total unrestricted funds**|**Opening**
**Balance**
**£’000**
**3,919**
**8,565**
**204**
**2,000**
**407**
**500**
**1,000**
**16,595**
**26,339**
**42,934**|**Income**
**£’000**
**189**
**1,107**
**-**
**-**
**-**
**-**
**-**
**1,296**
**3,201**
**4,497**|**Expenditure**
**£’000**
**(58)**
**(1,894)**
**(30)**
**(84)**
**(25)**
**(29)**
**-**
**(2,120)**
**(6,489)**
**(8,609)**|**Transfer/**
**Disposals**
**£’000**
**-**
**-**
**-**
**382**
**(382)**
**-**
**-**
**-**
**35**
**35**|**Closing**
**Balance**
**£’000**
**4,050**
**7,778**
**174**
**2,298**
**-**
**471**
**1,000**| |---|---|---|---|---|---| ||||||**15,771**| ||||||**23,086**| ||||||**38,857**| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** |_Unrestricted funds 2021_
_Designated funds_
_Fixed assets_
_Branches and subsidiaries_
_African Region Fund_
_Strategy plan 2022-2026_
_COVID-19 Emergency_
_Support Fund_
_Global Health & Safety &_
_Training Fund_
_Commitments to Retired_
_Chaplains_
_Total designated funds_
_General Funds_
_Total unrestricted funds_|_Opening_
_Balance_
_£’000_
_4,311_
_7,171_
_261_
_-_
_-_
_-_
_1,000_
_12,743_
_23,082_
_35,825_|_Income_
_£’000_
_73_
_2,336_
_-_
_2,000_
_407_
_500_
_-_
_5,316_
_6,089_
_11,405_|_Expenditure_
_£’000_
_(103)_
_(942)_
_(57)_
_-_
_-_
_-_
_-_
_(1,102)_
_(2,867)_
_(3,969)_|_Transfer/_
_Disposals_
_£’000_
_(362)_
_-_
_-_
_-_
_-_
_-_
_-_
_(362)_
_35_
_(327)_|_Closing_
_Balance_
_£’000_
_3,919_
_8,565_
_204_
_2,000_
_407_
_500_
_1,000_| |---|---|---|---|---|---| ||||||_16,595_| ||||||| ||||||_26,339_| ||||||_42,934_| The Fixed Asset reserves represent the cost value, net of depreciation, of the investment in fixed assets owned by The Mission to Seafarers. The Reserves of the branches, subsidiary companies and the African region fund are held for the purpose of delivering services in the relevant geographical locations. Any chaplain employed prior to 1983 with a minimum service of 30 years is entitled to be provided with housing for the remainder of their life. Although there are no further properties to be purchased, the Mission has an ongoing commitment to retired chaplains’ property costs including maintenance and council tax. ## **22. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |**2022**
**Unrestricted**
**General**
**Unrestricted**
**Designated**
**Restricted**
**£’000**
**£’000**
**£’000**
**Intangible fixed assets**
**-**
**23**
**86**
**Tangible fixed assets**
**-**
**4,027**
**428**
**Investments**
**20,456**
**6,085**
**-**
**Net current assets**
**2,630**
**5,636**
**319**
**Long term liability**
**-**
**-**
**-**
**Total**
**23,086**
**15,771**
**833**
_2021_
_Intangible fixed assets_
_-_
_34_
_60_
_Tangible fixed assets_
_-_
_3,885_
_426_
_Investments_
_23,172_
_6,677_
_-_
_Net current assets_
_3,183_
_5,999_
_436_
_Long term liability_
_(16)_
_-_
_-_
_Total_
_26,339_
_16,595_
_922_|**Total**
**£’000**
**109**
**4,455**
**26,541**
**8,585**
**-**
**39,690**
_94_
_4,311_
_29,849_
_9,618_
_(16)_
_43,856_| |---|---| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **23. ECUMENICAL CENTRES** For many years The Mission to Seafarers was a joint trustee and involved in the management of the Humber Seafarers’ Service Ltd (Charity Number 1159953), the Felixstowe & Haven Ports (Charity No. 272077) and Port of Bristol Seafarers Centre (Charity No. 286078). On 30 June 2022 The Mission to Seafarers, along with the other joint Trustees Sailors’ Society and Stella Maris, transferred all the assets and liabilities of the three ecumenical centres to a new maritime charity QVSR Seafarers Centres. ## **24. FINANCIAL COMMITMENTS** At 31 December 2022 the Group and Company had commitments (2021: none) under non-cancellable operating leases as set out below: |**Lease payments;**
**Land and**
**Buildings**
**2022**
**£’000**
_Land and_
_Buildings_
_2021_
_£’000_
Due not later than one year
**33**
_-_
Due between one year and
five years
**137**
_-_
Due after five years
**173**
**-**
**343**
**-**|**Other**
**leases**
**2022**
**£’000**
**2**
**7**
**-**
**9**|_Other_
_leases_
_2021_
_£’000_
_-_
_-_
**-**| |---|---|---| |||**-**| ## **25. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**26. ANALYSIS OF CASH AND CASH EQUIVALENTS**
Net (expenditure)/income for the reporting period_(as per the statement of_
_financial activities)_
**Adjustments for:**
Depreciation charges
Loss/(gains) on investments
Dividends and interest
Profit on sale of fixed assets
Decrease/(Increase) in stocks
Increase in debtors
Increase/(Decrease) in creditors
**Net cash (used in)/provided by operating activities**
Cash in hand
Notice deposits (less than 3 months)
**Total cash and cash equivalents**|**2022**
**£’000**
**(4,261)**
**93**
**3,509**
**(871)**
**(25)**
**(4)**
**(78)**
**704**
**(933)**
**2022**
**£’000**
**1,263**
**7,477**
**8,740**|_2021_
_£’000_
_6,933_
_103_
_(3,383)_
_(712)_
_(80)_
_4_
_(233)_
_(52)_| |---|---|---| |||_2580_| |||_2021_
_£’000_
_1,936_
_7,199_| |||_9,135_| ��� ## **THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2022 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022** ## **27. ANALYSIS OF CHANGES IN NET DEBT** |**27. ANALYSIS OF CHANGES IN NET DEBT**||| |---|---|---| |**At 1 January**
**2022**
**Cashflows**
**Other non-cash**
**changes**
£’000
£’000
£’000
Cash at bank and in hand
9,135
(395)
-
**Total**
9,135
(395)
-
**28. SUMMARY SOFA FOR THE MISSION TO SEAFARERS COMPANY NO. 622024**
**2022**
**£’000**
Income
**4,892**
(Loss)/gains on investments
**(3,496)**
Expenditure
**(5,652)**
**Net (expenditure)/income**
**(4,256)**
Gain/(loss) on foreign exchange
**93**
Total funds brought forward
**43,713**
**Total funds carried forward**
**39,550**|**D**|**At 31**
**ecember**
**2022**
£’000
8,740
8,740
_2021_
_£’000_
_8,321_
_3,369_
_(4,751)_
_6,939_
_(20)_
_36,794_
_43,713_| |||| |||| |||| ## **29. PROVISION** Following an accident on 13 October 2020, The Mission to Seafarers has pleaded guilty on 20 June 2023 to a breach of Section 33(1)(a) of the Health and Safety at Work etc. Act 1974. Sentencing is scheduled for 24 November 2023 and a provision has been accrued at the balance sheet date. ���