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← The Mission To Seafarers

2024-12-31-accounts

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THE MISSION TO SEAFARERS

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS . FOR THE YEAR ENDED 31 DECEMBER 2024

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A company limited by guarantee, registered in England and Wales no. 6220240 A charity registered in England and Wales no. 1123613

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First Floor, 6 Bath Place, Rivington Street, London EC2A 3JE www.——[missiontoseafarers.org]

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THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024

CONTENTS

Page
Introduction 1
Strategic Report , 3
Financial Review 12
Charity Information 18
Governance, Structure and Management 20
Statement of Trustees’ Responsibilities 24
Independent Auditor's Report to the Members 25
ofThe Mission to Seafarers
Financial Statements:
Consolidated Statement of Financial Activities 28
Consolidated Balance Sheet 29
Company Balance Sheet 30 an
Consolidated Statement of Cash Flows 31
NotestoFinancialStatements 32

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Introduction

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The work of The Mission to Seafarers began in 1856 and whilst seafaring has seen widespread changes over the years, our core focus has and continues to be the needs of seafarers and their families. Since the earliest days of mercantile trade, the long duration of sea voyages, and the separation and isolation this can impose, has remained a constant pressure on seafarers’ lives. It is however only one amongst many.

In the past year the Red Sea has continued to be impacted by the threat of attack and hijacking by Houthi rebels, based in Yemen. Wider impacts have been longer voyages, as ships trading between Europe and Asia divert around Southern Africa, and increased volumes and congestion in certain ports. These factors have increased seafarers’ isolation and limited the opportunity in port to rest and recover. This has been accentuated by difficulties in accessing shore leave at all. Pivotal to seafarers’ wellbeing for generations, facilitation of shore leave has simply never recovered post-pandemic to previous levels. Whilst shore access is offered in some ports in a conscious campaign, in many others seafarers are simply barred from leaving the ship. This is symptomatic of concerns relating to immigration, security, or simply a desire for efficiency. In light of this situation, our ship visiting and sourcing personal items from shore, or SIM cards for contact home, is invaluable. Where shore leave is possible, our physical centres in or near ports and our transport services are making a significant contribution to seafarer wellbeing.

The abandonment of ships has been another notable and growing feature in 2024 and will only worsen as the new era of sanctions and trade restrictions fosters a “dark fleet” that operates outside traditional governance structures with obscure ownership and a threat of owners “disappearing” when discovered. When this happens, seafarers are marooned on their vessel, usually without food, water or fuel, with wages unpaid, and no access to shore for months on end. Ensuring that they have not only personal contact and support, but also the essentials to keep them alive, has been significant in our work and we expect it to be so going forwards. Our work attends mental, physical and spiritual wellbeing. We have continued to train our staff to see and respond to emotional strain and deteriorating mental health. Through our growing SafeTALK suicide awareness training we also offer training to seafarers and those preparing for a life at sea. The need is also there for seafarers’ families, to whom we offer our WeCare suite of training courses through our Family Support Networks in the Philippines, India and Myanmar.

Our Seafarer Happiness Index has progressed well in the past year. This tool tracks seafarers’ own perceptions of their welibeing. It is increasingly being watched by industry participants, and some are beginning to ask us to offer bespoke services shaped around the Index to help them track crew wellbeing. As onboard connectivity advances, our digital services are increasingly important. The Happy at Sea app offers a virtual seafarer centre, enabling seafarers to seek support wherever they are.

Delivered across the world through a complex governance structure, the industry reports to us that they value our chaplaincy and welfare provision as a trusted global network, with continuity of care and consistent standards. Trust grows through years of care and service, and | would like to thank those currently delivering the Mission work, in so many ports around the world, and in our administrative centres. Being a Christian mission, with a very diverse staff and a close connection with the Anglican Church around the world, is pivotal to our work. We are deeply embedded within the shipping industry, however there is a clear understanding we are not a branch of the industry and operate quite independently. Our spiritual underpinning contributes to the trust accorded to us by industry participants, regulators, unions, and crucially also seafarers themselves and their families.

| would like to thank our President, HRH Princess Royal, for her continuing and long standing and dedicated support for the Mission. Her enthusiasm for the activity of the Mission is evident in her appearances at our events in many parts of the world over the years. In 2024, both our Vice Presidents stood down at the end of their terms. Esben Poulsen and Grahaeme Henderson have provided invaluable connections with industry that helped us through the COVID pandemic and deserved the gratitude shown to them by all at the Mission.

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In 2024, our Secretary General for thirteen years of outstanding service, The Revd Canon Andrew Wright, retired and we welcomed The Venerable Dr. Peter Rouch as his successor in what was a very smooth and amicable transition. In addition to these changes, we have sadly said goodbye to several Trustees as their terms ended and welcomed a number of new faces, listed on page 18 of this report. I’m very grateful for all the time and effort that our dedicated group of Trustees donate to the Mission, whom it is a joy to work with.

Finally, our work would not be possible without the wide range of individuals and businesses that have partnered with us in this past year, to the volunteers and staff whose energies have empowered our work, and to all those, both individuals and organisations, that have donated to the Mission, sponsored programmes and gifted grants.

To b~— Tom Boardley Chairman, Board of Trustees

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THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024 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 2024

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:

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

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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. ;

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THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024 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: \n 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. [CMA 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:

Our Standards

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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: e = Ship visitation

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THE MISSION TO SEAFARERS . TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024 STRATEGIC REPORT

Our Work 2024 - Overview

Operations

Seafarers

Although it has been far from universal, the past year has seen an increasing awareness in the industry of seafarers and of their wellbeing. There are multiple reasons for this, but not least amongst them is the reality that there is an emerging lack of seafarers. Whilst at this stage not having a major impact, it has highlighted to the industry that unless the working life of seafarers is sufficiently resourced to make it attractive to new entrants, those entrants will look elsewhere. Whilst remuneration can be important, seafarers tend to report that of higher priority are digital connectivity, wider contractual terms, and shore leave. The past year has also seen steps forward in emerging technologies. Trials have been held for environmentally friendly fuels and also ship management technologies that have the capacity to offer a degree of remote ship management. Concerns have been developing about how seafarers will be trained and supported in the adoption of these technologies, or whether onboard personnel might become the “fall guy” when mistakes arise during an extended transition to a new normal in shipping.

Despite the leading-edge conversation amongst a range of responsible industries partners, this is far from the norm. The same year has witnessed an alarming rise in ship abandonments, a sustained growth of the “dark fleet’, and extensive difficulties for seafarers in accessing shore leave. Added to this the ongoing safety issues for ships transiting the Red Sea and it is clear that there is considerable progress to be made in ensuring that seafaring continues to an attractive career choice.

Ports

Our port operations across the world remain at the core of our work. During 2024 our port work across 50+ countries continued to provide very strong support to seafarers. Statistics record a continuing upward trend since the pandemic in centre footfall and ship visitation. An ongoing emphasis on sustaining relevance in ports against an ever-changing background is central to our aspirations — right ports, right models, right services. This is a key area for investment, training and modelling best practice and we have continued to adjust our port presence to improve its focus as well as to develop new centres and services.

Wider Programme

Our wider programmes continued to expand and reach more seafarers and their families. Our WeCare mental health and wellbeing resources were delivered in classrooms and at Fleet Officers’ Conferences the world over and have now reached more than 85,000 seafarers and their families. Our Seafarers Happiness Index continued to set the agenda at industry conferences, highlighting the concerns of crew and sought feedback in two roundtable sessions with business leaders in Singapore and London. Our Family Support Networks in Myanmar,

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THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024 STRATEGIC REPORT

India and the Philippines continue to grow with more than 4,900 people attending our conferences, seminars and fellowships.

Finances

As a voluntary organisation providing a critical service to the shipping industry — focused on seafarer well-being (“happy seafarers make good seafarers, happy seafarers make safe seafarers”) - our strategic focus has been on seeking corporate maritime funding from the industry. 2023 saw new breakthroughs in this area, including through the Adventure Race Japan (ARJ). However, with rising costs and fast developing work we face continuing pressure on resources. Other vehicles for corporate partnership have combined with strong legacy, trust and investment income and continued individual and church giving to ensure a successful financial year. Anticipated operational deficits in coming years are supported by the intentional and planned long-term use of reserves. Designated strategic funding has been very important. We benefit from an exceptional Development Director and team, as well as the support of some key figures within industry.

Our Work 2024 — 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 current strategic period we will seek to achieve:

Ports, centres, chaplaincy and ship visitation

Key hubs

Port development

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THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024 STRATEGIC REPORT

of port access, particularly prevalent in some regions like Latin America. Current security environments and the legacies of the pandemic have created new restrictions which can be difficult to resolve in multiagency port environments. These pose a threat to our work and to seafarer well-being.

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;

[Activity20242023 | Ship welfare visits are the primary means for seafarers to access our services and, during a routine visit to a vessel, we estimate that a chaplain will encounter up to seven individuals, including 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 and the number of seafarers we engage with. Our ship visiting decreased by 6.4% after increasing post-pandemic in 2023 by 10.6% (2022 visits 21,623) with 54% of these visits taking place in our grant-funded overseas locations. Visits to our seafarers’ centres decreased by 27% reflecting the difficulties in taking shore leave and better on- ship connectivity with seafarers choosing not to come ashore. Also, during 2024 the Port Talbot centre was closed due to the closure of the steelworks there.

When added to our global Mission to Seafarers families, the above statistics increase to:

[Activity20242023 |

Wider Programme Our work in the areas of mental health and wellbeing, resilience training and working with seafarers’ families continued to grow in 2024.

Our Family Support Network in the Philippines continued to work with seafarer families through volunteer committees. More support was provided to the committee through the leader of the Greater Manila Chapter, who was appointed on a trial basis in 2023.

Of the 1,001 welfare cases attended in the Philippines we estimate that 80% were seafarers (2023: 90%) and the remaining 20% (2023:10%) were families. Welfare and practical support represents some 74% (2023: 84%) of these cases, where we offer both a listening ear and heart, offering practical support and guidance. Beyond this, our assistance spans various crucial areas such as justice cases, food-aid, financial support, referrals, hospital and home visits and free transportation.

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THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024 STRATEGIC REPORT

Unfortunately the number of participants in India hasn’t changed due to difficulties in sending funding there and progressing the work further and we no longer record the number of Members in our Family Network as we are reviewing the membership structure and focus instead on attendees to events.

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[ Tuticorin Family Network | 2024 2023
Pp Family Programme Participants [2,050 [2,050
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The Mission’s Programme Manager is qualified to train a suicide awareness programme called SafeTALK. In
2024 680 people (2023: 189 people) across 46 organisations (2023:32) were trained as Suicide Alert Helpers
through attending the SafeTALK (641) training programme and the ASIST (39) courses in the UK. In total, the
number of people trained in Suicide Prevention since the SafeTALK programme was first introduced in 2022 is
1,049 (2023: 369), representing 109 maritime sector organisations across the EU, Philippines and Australia.
That number also includes Mission volunteers, other seafarers’ welfare societies and shoreside personnel. Our
wellbeing resources in financial literacy and social communications have reached over 90,000 seafarers.
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Provision

Strategic aim: we will seek to resource ministry fairly and appropriately whilst building a sustainable future, recognising that longer-term financial dependency on IHQ is not viable. Over the current strategic period we will seek to achieve:

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THE MISSION TO SEAFARERS TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024 STRATEGIC REPORT

Partnership

Strategic aim: we will prioritise partnerships to ensure efficient, collaborative and coordinated delivery of care to seafarers. Over the current strategic period we seek to achieve:

Partnership takes many forms in the life of the Mission and the highly varied circumstances in which we work requires both creativity and flexibility. The partnership with Deutsche Seemannsmission (the DSM) which began in Panama in 2023 has continued to develop with a new member of staff to commence shortly and the possibility emerging with a further collaboration with ecumenical colleagues in Stella Maris. The centre in Durban is one of our key hub locations, and an endeavor pursued in deep collaboration with a range of other agencies which, like ourselves, are part of the International Christian Maritime Association. Through collaboration within ICMA we hold observer status at the International Maritime Organisation as they take a lead on the development of the conventions and regulations that govern shipping and seafarers’ working lives. A reshaping of some of our work in UK ports places us at the heart of extensive partnership with Stella Maris UK and QVSR in the provision of welfare. In Anglican province after province across the world extensive collaboration exists with the work of the Mission forming a significant aspect of local mission and with bishops and other senior clergy serving extensively in governance roles.

Our partnerships with industry continue to strengthen and not only in relation to financial support. Our Global Ambassadors are a group of approximately 50 senior people within the industry who meet regularly during the year, principally in London and Singapore, to support the identification of welfare priorities, and the shaping and resourcing of responses.

Of particular note in the past year has been the steady work undertaken by our staff in Cyprus and Jordan to support the families of the seafarers kidnapped by the Houthis in Yemen. We were more or less the only agency of any kind, let alone welfare agency, which was able to maintain this level of support and it formed an important part of partnering with the IMO as they engaged in active diplomacy to secure the release of the crew.

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 current strategic period we will seek to achieve:

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THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 STRATEGIC REPORT 2024 has witnessed the launch and development of a range of new initiatives and innovative approaches to our work. The crew of cruise ships are offered a very different pattern of rest and shore leave to other commercial seafarers. Although the percentage offemale seafarers at <20/0 IS quite low, currently the Ove￿helmIng majority work in the cruise sector. At the seafarers, centre in Tilbury we have been developing a bespoke cruise seNice from converted containers placed next to the berths, and making the support of female staff available to those visiting what have become busy spaces. Success at Tilbury means that we are now exploring a similar working model elsewhere, including at Soulhampton, the busiest UK cruise terminal, and exploring options elsewhere in the world. Work has progressed steadily towards the opening of new port services in Georgia (Poti) and Greece (Piraeus) and we expect both to launch in 2025. During 2024 we have also restructured Ouf service offering in Walvis Bay, Namibia, re-opening a facility better able lo seNe contemporary needs. Our Seafarer Happiness Index has developed in prominence and is now an industry benchmark attracting considerable attention. The Index forms the basis of a partnership with a global relailer which is concemed about the ethics of its supply chain. We are now offering a range of training to their staff and supporting a ship visiting to offer both an audit of welfare and reassurance. Other non-shipping corporates are discussing similar initiatives with us. In the currenl year we are pushing ahead with boosting seafarer usage of OLtr virtual seafarers, centre, the Happy at Sea app. Increasingly those entering a seafaring life are digitally fomed. It is not sufficient to simply offer a digital product, bul to attend to the wider digital world through which people engage so that the new offering is both known and used. 2025 ObjeGtive and aclivities In 2025. the fourth year of the current strategic period, we will continue with the new work that we have started including key hubs, new ports and the development of programmes lo support seafarers and their families. We will continue to offer high quality and appropriate services in our eslablished ports and centres and through our digital s8rvlc8S. We wlll commence consultations wilh relevanl stakeholders to establish the aims and oblecliv8s for the next strategic period, learnlng from the progress of our current strategy to date and Ihinklng about seafarers, needs in the future. Programme Ports.. We will continue with our modernisation of our port-based working, wilh relevance and sustainability as driving factors at regional and local level. to include.. Support for ongoing centre modernisalion, In lin8 With changing need. Explore use of mobile centres. Although delayed by lengthy recruitment processes in Rotterdam, a successful mobile denlistry service has been piloted in our Durban seafarers, centre. Further development of our'key hub" programme, focused on existing and new ports where research diclates efforts should be enhanced in relation lo maximising access lo seafarers and building a multi- skilled leam-based approach. Considerable progress has been made in both Durban and Colombo, and we wlll look for greater progress in Rotterdam and Singapore as key targets fordevelopment in 2024125. Building on 2024 work and in liaison with local entities wherever possible we will seek to complete context -specific, new port development programme. Port based chaplaincy is highly valued by our industry partners. yet because of its cost the largest representation is maintained by ourselves. Further development ofwhat is already an extensive offering will need clear and substantial induslry support. Subject to funding, progress the delayed "superyacht. crew support programme, with chaplaincy in Antibes in partnership. Wider programme.. Further develop the Wecare brand to reach more seafarers. particularly in maritime colleges and through crewirbg managerslagencies. Develop our SafeTALK Maritime course to become the standard of suicide awareness Iraining in Ihe maritime sector. 10

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 STRATEGIC REPORT 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. 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. Continue the rollout of our Learning Management System and training pathways for all roles across the. Mission. easure the environmental impact of our day-lo-day operations, reduce our emissions in line with annual targets and offset unavoidable emissions. Publish our third ESG report detailing our approach to sustainable maritime welfare and our efforts lo partner with stakeholders to contribule towards environmental sustainability. Provislon A new adventure race in Europe ¢811ed 'Maritime Mountain Race, will be launch8d on a modest SC8le for 2026 and the anliclpation is that funds raised will boost our non ARJ years. The Flying Angel Campaign 2024125 will be supported by a comprehensive catalogue of projects including our core work. This wlll be an efficient mechanism to showcase our work and attract funds. We are continulng our strategy of increasing our donor base via Dlgilal donor acquisition. As part of our programme to attract funds from key maritime locations, we aim to appoint a fundraiser in Singapore and In Dubai.The Singapore Dinner and Internallonal Awards has grown every year, with 500 participants in 2024. It provides a further strong basis for corporate partnerships, primarily benefiting the local operation bul also providing a foundation for future regional Income. We will embark on early steps of building income from the USA and Canada via trusts and foundations and some early corporate endeavours. Building on the media training given in 2024, our communications team will lead on hamionlsing our branding and communications globally. Partnershlp Continue to develop 8nd strengthen our work with the Global Ambassadors group and with our many maritime partners including HFW, the Deulsche Seemannsmission, Stella Maris, ICMA and the IMO and many other welfare agencies. Possibilities Drive high take-up of the new Happy at Sea App amongst seafarers. Consolidate development of newly acquired port reporting app and encourage further participation by wider welfare societies. Further adopt new technology to improve the routes by which seafarers can access welfare. Explore new opportunitles for welfare provision in ports. with the exp8Ctation of opening new port services in Georgia {Potl) and Greece {Piraeus). We have seen some environments in which a port authority or nation stale wishes to enter a formal Memorandum of Understanding arrangement with us for the provisSon of welfare services in their port. In the coming year we will continue lo explore thls as the basis of support arrangements across a territory as well as in individual port locations. li

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 FINANCIAL REVIEW 2024- Income and expenditure The Consolidated Statement of Financial Activilies is shown on page 28. In 2024, the net movement in funds was a loss of £213,000 (2023.. gain £2.340.000). This is m2de up of an operating loss of £860,000 (2023: loss £47,000) and an investment gain of £658.000 (2023- gain £2.411,000). The increased operating loss was expected and had been budgeted for as part of the current stralegic plan. Indeed the 2024 budgeted operating deficit was expected to be around £2m as 2024 was year three of Ihe current strategy to inlentionally spend down some designated reserves and in developing new and sustainable areas ofwork. The better than expected operating loss was due lo delays in starting certain planned work which is now expected to gel underway in 2025. Overall income in 2024 decreased by £27,000 to £5,763,000 (2023-. £5.790.000). Total donations and legacies income increased by £418,000 lup 11 % ) 10 £4,248,000 {2023.' £3,830,000) mainly due to increased legacies of £1.692,000, up by £470,000 {2023= £1,222.0001, Investment income increased to £1,113,000 {2023=£1,060,000) with dividends holding steady. Donations, grants and legacy income, togelher with investment income make up Ihe Mission's principal funding sources and represent 93 /0 of total income (2023: 840/01. They are a major contribution to funding the cost of Ihe Mission's charitable activities. Total expenditure increased by £786,000 (13Vo)10 £6,623,000 (2023.. £5,837,000). Fundraising costs increased to £1,155,000 {2023.' £1,136,000) reflecting the increased cost of materials and media to promote seafar8rs' and their stories together with the work of the Mission. Expenditure for charitable actlvilles Increased by £767,0001160/0) 10 £5.468,000 (2023: £4,701,000). During 2023 varlous vacancies and new posts were filled, along with another tsvo new posts in 2024, so increased salary costs reflect the full year's cost ofthose together wilh annual pay increases. However, this investment in people has increased our ship visiting and ability to provide services to seafarers. Inflation has hil costs across the board, and is especially felt in travel costs, which particularly impacts a global organisation like the Mission. Whilst grant expendilure reduced by £51,000 (down 40/0) 10 £1.281,000 {2023'. £1.332,000), our digital welfare and support seNices increased to £338,000 (2023: £239,000) up by 290/•. These include the Seafarers Happiness Index, the ship visilorlport reporting app and the Happy al Sea app. An analysis of expenditure is given in note 8 to Ihe Financial Statements and Grant Expenditure is detailed in nole 10. The proportion of total expenditure that the Mission considers to be of a charitable nature is 83¥0 (2023: 800/01. The Mission's investmeni Portfolio concluded the year with 8 gain of £658.000 {2023'. galn of £2,411,000). However, unrealised investment gains or losses reflect market movements during the year and are not cash surpluses or deficits. As such they are nol available to fund expenditure unless and until the underlying investment is sold but they do impact on the Mission's reserves. The Mission participates in two pension schemes. One is a defined contribution scheme with no liabilities at the year end and the other is a multi-employer, defined benefit scheme where the Mission's ongoing liability al the year end was £nil {2023.' £nill- The net gain before investment and foreign exchange losses for the Mission's five {2023: five) subsidiaries is £5,000 {2023'. £15,000). With their total reserves of£166,000 (2023.. £161,000) the Trustees confirm that none is in deficit (2023.. one). See notes 2 and 17.2 for further information about the subsidiaries. Balance sheet The Mission's group balance sheet shows thal net assets have decreased by £213,000 to £41.8 million {2023: £42 million) and are made up of- Reslricted reseNes £773.000 (2023: £641,000) (see Note 20) General reserves £27.1 million (2023.. £25 million) Designated reserves £13.9 million (2023= £16.4 million) which are not available for general purposes. {See note 211 12

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 FINANCIAL REVIEW Reserves The Mission's policy is to maintain general rese￿eS to reflect the long-term nature of its work. As the temporary custodians of Ihese reseNes, Trustees feel that it is essential that they leave The Mission to Seafarers in a slate where it can continue for as long as seafarers need it and there are no signs of this need diminishing. During 2024 the Trustees discussed the policy and they continue to believe that general reseNes should not fall below a total of three year's expenditure. Based on the 2025 budget, that figure equates to £23.1m. Following a re-allocation of some designated reserves to unrestrrcted, general reseNes at the year end are £27.1m, £4m above (2023.. £2m above) the minimum identified. Trustees confirmed that there should be continued, intenlional and responsible ulilisation of excess reserves within agreed parameters during the strategic period. This will be achieved through controlled, deficit budgels. Ultimately, Ihe aim is to achieve balanced budget In order lo attain long-term financial sustainability but 811owing for intentional stralegic expendilure andlor 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, lo 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 localions worldwide where il operates. There are continuing indications that some of the Mission's operations overseas, which endeavour lo 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 lo retaining a sufficient level of funds to give stability to its work, including the provision of emergency financing where necessary for these activities. In 2024 legacy Income was £1,692,000 12023.. £1,222,000). Whilst the Mission has benefited from legacies in the past and hopes to do so In the fulure, legacy income cannot be relied upon as a conlinulng and certain source of incoming resources. The Trustees have, Iherefore, made allowance for the uncertainties that arise from legacy Income. In line with the planned. phased reduction in reserves, The Mission to Seafarers anticlpales continuing nel 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 movemenl 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 three year's anticipated funding requirements in cash. Changes In law may impose costs, such as in the area of pensions, where obligations may arise to ensure that current and relired employees are not significanlly disadvantaged. The level of the unrestricted general reserves has provided some protection to the Mission and allows time to adjust lo changing financial circumstances. This has limited the risk to service provision from operating deficits, such as the Mission has experienced in receni years, or an unexpected need for unbudgeted expenditure. Indeed. during the Covid-19 pandemic in 2020 and 2021 this has provided protection and secLtrity for the Mission from the impact of Covid-19 as a proportion of investments were sold lo provide enough cashflow to ensure Ihat the Mission remained a going concern whatever the performance ofslock markets. The Missiors's reseNes a150 allow additional unbudgeled funds to be provided to respond to the needs of seafarers and their families such as those impacted by wars and piracy. Going concern The Trustees consider that it is appropriale for the Financial Statements to be prepared on a going concern basis as they believe that Ihe current level of reserves and cash holdings at the date of signing will enable the Mission to survive the impact of any fulure unexpected event (such as one similar to the Covid-19 pandemic) any impact from conflicts around Ihe world, including in Ukraine and the Red Sea, and from the 'Cost of Living Crisis, which the UK has been experiencing in recenl years and indeed from what is being experienced to date in 2025 with the imposition of new global tariffs by the USA. The reserves will also ensure thal Ihe Mission can continue lo be able to support seafarers for the foreseeable future. 13

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 FINANCIAL REVIEW Risk Management The Board of Trustees has overall responsibility for risk m3n3gemenl and maintains a Strategic 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 Ihe impact il would have if it occurred identifies what controls are already in place lo 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 moniloring the risk and taking appropriate action. The Register is reviewed annually by th8 Audit and Risk Committee as a minimum and regulady by the Board. Following a review of the Strategic Risk Register in July and October 2023, it was again reviewed by the Audit and Risk Committee in October 2024. Whilst no risks were altered, deleted or added, commentary on the risks, existing controls, mitigating factors and proposed actions were updated to reflecl any changes since October 2023. The Strategic Risk Register includes ten risks but the princlpal risk that the Mission face5 and the actions it takes to mitigate it is that: 11 is unable to raise sufficlent funds to permit it to maintain or expand the services it offers to seafarers to meet the level of need identified. The reserves position remains strong although there was some volatility In the market in 2024 and the lingering effects of high inflation remained. The Finance Working Group which began m8eling informally during the pandemic continues to meet al least Ihree limes a year to review the Mission's financial position and advises the Board accordingly. Addilionally, budgels and income forecasts are being updated regularlywith an emphasis on reducing costs where possible and Glose financial monitoring is in place through forecasts, management accounls and oversight of the Audit and Risk committee. Investment Policy The Mission holds investments to help meet its current and future obligations and 8s a reserve against future shortfalls between income and expenditure. It is intended to hold reserves for the long t8rm as the need to provide support and care lo seafarers is not diminishing and il is expected that the Mission's activities, inclvding long term housing commitments to retired employees and Church of England penslon obligations, will continue for many years. The overall aim of the Misslon in holding inveslmenls is to produce the best financial return within an acceptable level of risk, in order to protect the long-term reserves againsl inflation and produce regular flows of funds to support fixed costs and operating activities both in the UK and overseas. The investment rese￿eS are divided into: reseNes 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 50k over a five-year period those held for the short to intermediate term (O to 3 years) lo 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 Truslees follow the Charity Commission guidance for the investment of charilable funds. Additionally, the Mission does not wish to profit directly from, or provide capital to. activities that are materially inconsistenl 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 limil the inveslm8nl 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 ils investments in line wilh this policy. Such appointments can be in Ihe 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 14

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 FINANCIAL REVIEW 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 Ihe oversight oflhe Investment Managers and periodically reviews their perfomiance. commercial terms and overall seNices and. if appropriate, makes recommendations to the Board for any change. Thi5 policy was reviewed in 2024. Investment Portfolio CCLA Investment Management Ltd, which Is regulaled 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 mulli-asset common fund worth over £2,152 million as at 31 December 2024 (2023.. £2,083 million) 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 provide a total return {ie growth in capital and income) over the long-term {defineé as five years) to protect present and future beneficiarles from the effects of inflatlon (as measured by the UK consumer price index). It is managed in accordance with a falth-consistent Investment policy, developed by the manager, to meet shareholders, desire to invest in a way that reflects Christian and Anglican teachings and is grounded in the advice produced by the Church of England's Ethical Investment Advisory Group and Iherefore fits with the Mission's investment policy. Investment Perfomiance In 2024 the total return net performance for the Mission's investments managed by CCLA was a gain of 5.09% {2023'. gain 12.570/0) and the performance of the comparator. was a gain of 15.3 /0 (2023.. gain 13.280/0). Gross dlvidend yield was 2.730/0 {2023'. 2.730A) based upon the fund's net asset value and an annual dlvidend of 63.03p per share (2023.. 61.79p). ('Comparator- composite.. from 01.01.21 MSCI World Index 750A. MSCI UK Monthly Property Index 5°/•, Markit iBoxx £ Gilts Index15010 & SONIA 5Q/o. Fundraising The Development team al the London IHa is responsible for fundraising, communications and marketing led and overseen by the Director of Development. Third parties may be used to send out appeals, updates and information lo donors, but the content and messages come directly from the Mission. The team also greatly assists the global Mission family by providing trust expertise and support, the value of which does not appear in these accounts. 2024 was another extremely busy year for the Development team. We onboarded new staff who also brought benefits in terms of expertise from other major national charities. which has helped enhance the whole team. New processes have been implemented and the events and corporate teams in particular are improving efficiency. The Adventure Race Japan takes place alternale years {2023 and 2025). so during 2024 we secured a large proportion ofour sponsors amounting tojust under US$500,000. Individual giving increased to £605.740 {2023: £480.268) due to concerted efforts in Increasing digital donors, Total fundraised income at IHQ for 2024 was £3.753.000 (2023.. £3.790,000) a decrease of £37,000 <1%). However, as we prepared for the second Adventure Race Japan, £435.000 of income was also received but not recognised in these 2024 accounts, as the race will lake place in 2025. Thal income will be included in the 2025 accounts. We continued to successfully raise funds through the Flying Angel Campaign at £217,000 (2023.. £200,000) and granlsltrusls and major gifts rose to £764,000 {2023= £664,000). Legacy income also increased lo £1,692,000 (2023.. £1.222,0001. We are very grateful to those supporters who made legacy commitments, somelimes many years ago. We also Ihank those who have pledged legacies during the year. Thls Is a valuable source of Income for us. Donations are received from individuals, churches, fundraising committees, grant giving bodies, twsts and corporates, especially those in the maritime sector. Some donations are linked to specific appeals such as the regular Lenl, Summer, Christmas and Sea Sunday activities or specific events and campaigns such as Ihe Flying Angel Campaign. Some individuals and teams undertake various challenge events and we were pleased to see the annual Golf Day with Hayfin and the IMO Bike Ride continuing. 15

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 FINANCIAL REVIEW Corporate partnerships are an important source of income and support for the Mission. Our partnership with the UKP&I Club continues into a seventh 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 SafeTALK training increased in 2024. Work with HFW continues to provide vital pro bono legal and fundraising support, for which we are so very grateful and we deeply appreciale all the companies, trusts, foundations and individuals who have continued to support us so generously to help seafarers in so much need. We have seen the growth of our Global Ambassador network rise to 50 C-suite people who meet to offer guidance and advice on industry issues and to open their networks. Our regular and individual giving for 2024 was a valuable £536,000 (2023.. £480.000). Our marketing and communications obligations 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. They have also provided training to the Mission family al various regional conferences. The communications agency Blue has played an important role in supportino us and 8nsuring that our responses lo journalist and media opportunities are targeted and focused. During 2025, we are conlinuing to shape our communications activity, to ensure the most efficient delivery of this activity across the Mission in line with the Global Strategy, We continue our annual Seafarers Awards in Singapore are also planning new fundraising events in 2026 - a new Dinner in Dubai and the new Maritime Mountain Race in Europe. The main challenge is to ensure that the team is suitably resourced to accommodate the expanding annual programme of work, The Mission is a contributor to the Fundraising Regulator who regulates fundraising in England and Wales with the aim of protecting donors lo charities and ensuring that fundraising is respectful, open, honest and accountable to the public. In accordance with The Charities (Protection and Soclal Investrnenll Act 2016 we confirm that.. The Mission carefully monitors all of ils fundraising He.livities 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 fundraislng activities (2023.. 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 solicitlng a donation or o Placing undue pressure on 8 person to glve money or olher property. Envlronment, Soclal, Governance Seafarers and their families are at the heart of the work of The Mission to Seafarers and there is an imperative for the Mission to safeguard the environment upon which they depend as we carry out ourwork. Climale change poses various threats to seafarers, including extreme weather risks, sea-level rises disrupting ports. altered currents impacting navigation, heal stress. unpredictable weather hindering safe passage and worsened mental health due to climale-related stressors. Addressing climate change is also an integral part of who we are as an Anglican Mission Agency. The fifth mark of the Mission for the Anglican Communion is 'To strive to safeguard the integrity of creation and sustain and renew the life of the earth,. Accordingly, the 2022-2026 Strategic Plan committed the Mission to making environmental responsibility a priority focus. An ESG (Environmental, Social and Governance) strategy was drawn up in 2023 setting out our sustainability agenda for these three key areas and the sustainability themes which we consider most important to seafarers, the Mission and to our stakeholders where we are uniquely positioned lo make a difference. The starting point was to establish the Mission's current baseline in the chosen sustainability areas which would serve as a basis for year-on-year comparisons to map our progress. As part of that process, Climate Stewards, a consultancy which helps organisations set up environmental sustainability strategies and audit Iheir carbon footprinl was engaged in mid-2023 to carry out a Carbon Footprint Audit for the Mission's work in 2022. An ESG Data Analyst was also employed on a part-time basis lo support this work. gathering and qualily assuring environmental data 16

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 FINANCIAL REVIEW from the regions which was then passed on to Climate Stewards for analysis. The ESG Data Analyst also gathered and analysed social and governance data for the Mission for 2023. The Mission's 2023 ESG Report was completed in 2024 measuring the environmental impact of the work in IHQ and regions under IHQ'S direct control - Europe, Middle Easl and Soulh Asia, East Asia and Lalin America and the Caribbean. It also provided insights Into the Mission's Social and Governance activities for the year 2023. The carbon accounting and verification process was carried out by an independent third party, Climate Stewards. following Ihe Greenhouse Gas Prolocol. The Mission is committed to transparency and accountability with a plan to publish ESG reports annually to demonslrale its ongoing dedication to sustainable practices. In line with this commitment, we disclose the total greenhouse gas (GHGI emissions associated with Ihe operations of IHQ and regions under IHQ'S direct control. The approximate carbon footprint for the Mission's operations in 2023 stands at 976.11 ICO2e. This figure is the result of an assessment which encompasses both direct and indirect sources of emissions, providing a comprehensive picture of our carbon footprint. Implementation of sustainability Inilialives is a key focus and work has commenced to integrate the Mission's environmental sustainability program seamlessly into daily operations and processes. The Mission values diversity in all its forms and we are committed to building an inclusive culture where every employee feels they belong and can excel in Iheir role. Our workforce reflects a diverse composition, with a 3..2 male-to-female ralio amongst our staff. Our Senior Management Team, with a 2..3 male-to-female ratio, embodies this commitment to diversity, and we strive to increase diversily in our frontline teams. The Audit and Risk committee has recently taken on Ihe crucial role of overseeing our Environmental, Social. and Governance (ESG) strategy and audlt processes. The commltlee's expertlse in financial reporting and risk oversight positions il well to manage these responsibilities, aligning our ESG practices with our broader corporate govemance framework. We are committed to formalising our ESG policy in 2025, which will provide 8 comprehensive framework for guiding our sustainability efforts. 17

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 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 Vlce Presidents Esben Poulsson (to May 2024) Grahaeme Henderson (to May 2024) Trustees Thomas Boardley- Chalr Gary Chapman Peter Cottrell Captain Karen Davis (from 29 January 2025) Robert Ferris OBE (to 24 July 2024) Anisha Franklln {from 31 January 2024) Alexandra Harwood Amanda Lennon (from 29 January 2025) William MacLachlan (to 31 January 2024) The Ven Michael Power Neale Rodrigues (from 31 January 2024) Timothy Smith Claire Sneddon (to 31 October 2024) Jeremy Sutton (from 17 March 2025) Sam Swire {to 29 January 2025) The Very Revd Andrew Tremlett (to 31 October 2024) The Right Revd David Williams- Vice Chair I'GNI I'A) I'II [GNI IA} IGI IAI11] IGN] IR] IRI I'G] IGI [R] ['GJ 'RI IGNI IG] IGN] Company Secretary Dorothy Osarenren Key Management Personnel Secretary General The Revd Canon Andrew Wrlghl (to 31 July 2024) The Venerable Dr. Peter Rouch (from 1 August 2024) Chief Operating Officer Tomilayo Toluhi Direclor of Programme Ben Bailey Director of Development Jan Webber Director of Finance Eileen Reilly IGJ [GN] IG] IGNI IGN] Committees 'Denotes the Chalr of the relevant CommSttee G. Grants and Programmes Committee GN. Governance and Nominations Committee R. Remuneration Committee Helen Averill (Externall (to 31 March 2025) l. Investment Committe• 18

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 CHARITY INFORMATION Jim Aiken (Exlemal) (to 30 April 2024) Paul Jeffries (External) 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. Registered Offica First Floor, 6 Bath Place, Rivinglon Street, London EC2A 3JE External Advl8ers 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, 1 Angel Lane, London. EC4R 3AB Solicitors Blake Morgan LLP. New Kii)gs Court, Tollgate, Chandler's Ford, Eastleigh, United Kingdom, S053 3LG HFW, 8 Bishopsgate, London. EC2N 4BQ 19

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 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 Truslees {Ihe 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 Arlicles of Association are dated 5 September 2022. The charity's Trustees and management The Board is drawn from prominent leaders across various industries such as maritime, financial and legal who have an underslanding, empathy or a wide experience of seafaring life. The Mission also invites leading members of the clergy to S8rve 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 ofthe current members ofthe Board to tryto identify new candidales who might strengthen particular areas. The normal period a trustee can serve is three terms of three years each. In exceptional circumstances, this can be exlended for successive periods of one year but the maximum period a trustee can serve is ￿￿e1Ve years. The Board requires a quorum of five Trustees and normally meets four times a year. It is the governing council and ultimate decision maker 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 Conductand Gomplete a Register of Interests on appointment and annually thereafter. The Board has five permanent sub-committees: Audit and Risk Grants and Programme Govemance and Nominalions Investment Remuneration Each of the above committees is made up of Trustees and members of the executive staff. Where appropriate, the Board may Co￿pt independent and professional expertise from external sources. for the benefit of committee's work. The day lo day management of the charity is delegated to the Secretary General. Worl<ing closely with the Chalr and the Board, the Secretary General has overall responsibility for the leadership of the global Mission and provides spiritual leadership, sels and sustains the strategic direction and ensures alignment with core Christian and charilable purposes. The Secretary General also leads the Senior Management Team and is direclly supported by the Chief Operating Officer. The Mlssion's teams based at the London IHQ and headed by ihe Senior Management team take a leading role in global fundraising and programme delivery and act as a support function to the whole Mission family. This includes organisational and financial governance, designing and rolling out processes lo improve unity, protection of the "brand", delivering global projects and agreeing strategic objectives. In addition, IHQ teams provide training. disseminate information, conduct research. provide brand and marketing services and manage publications and digital media, including websites. 20

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 GOVERNANCE, STRUCTURE AND MANAGEMENT Delivery structure of dlrect Mission activities Regional network The Mission to Seafarers. regional network is made up of nine regions.. Europe East Asia USA Australia Africa Middle East and South Asia Latin America and the Caribbean Canada Oceania (New Zealand and South Pacific Islands) The Regional Directors offour of these regions, Europe, East Asia, Middle East & South Asia and Latin America, are directly managed by the Secretary General and so are responsible lo the Mission Trustees. The remaining five are made up ofindependent 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 stalements. These indepenéenl regions provide a dynamic and responsive welfare service for seafarers, working in partnership with the four Mission regions. In 2024 the Mission continued to provide grant-funding to all independent regions to support regional development. Through the regional ne￿ork, the Mission was able to give support and advice at around 150 ports through the independently run Mission lo Seafarers, charities and organisalions as part of the global Mission family. Part- time honorary chaplains appointed by the Mission also provided support for seafarers and were a point ofcontact 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 lo Seafarers welfare services lo seafarers in the regions detailed above were provlded through directly salaried, or grant-funded, port-based chaplaincy andlor ship visitor teams in the following areas, with 'memoranda of understanding, in place at all key locations.. Directly Employed By The Mission Grant Funded And Directly Managed By The Mission Grant Funded, Managed By Independent anisationslRe PortlArea ions Acu, Brazil Antwerp, Belgium Aqaba, Jordan Bahrain Port Baltimore, USA Bangkok, Thailand Belfast, N Ireland Belem, Brazil Buenos Aires, Arg8nlina Busan, South Korea Cape Town, SA Costa Rica Colombo, Sri Lanka Dubai, United Arab Emirates Halifax, Canada Hong Kong, China Houslon. Texas, USA Humber. UK Indonesia Izmir. Turkey JNPT, India Kolkata, India Lagos. Nigeria Limassol, Cyprus Mombasa, Kenya 21

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 GOVERNANCE, STRUCTURE AND MANAGEMENT Manila, Philippines Ne￿Ound1and, Canada Panama Port Elizabeth, SA Port Talbot, Newport & Milford Haven, UK Richards Bay,SA Rouen, France Said, Alexandria & Suez Ports, Egypt Scottish Ports. UK Seattle, USA Southampton. UK South Wales Ports, UK St John,Canada Suape, Brazil Tahili, French PolynesSa Tilbury, UK Tulicorin, Indla Yangon, Myanmar Yokohama & Tokyo, Japan Branches In addilion to, and in conjunction with chaplaincy services, charilable activities were carried out by the Mission's 14 (2023.. 15) 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 Conslilutions. The branches employ 7 (2023.. 8) staff paid from IHQ and 13 (2023.. 15) staff employed locally, excluding their five chaplainb wlio are included in the lable above. Their finanr.ial results are consolidated into the Financial Statements set out on pages 28 to 31 ofthis report and they operate in the following locations., Aqaba, Jordan Belfast, UK Dubai. United Arab Emirates, UK Falmoulh, UK Fowey. UK Humber Ports, UK Newport, UK Panama, Latin America Manila, Philippines Port Talbot, UK (closed September 2024) South Shields. UK South Wales ports, {Welsh Council), UK Tees (Northl, UK Tees (Soulh), UK Bangkok, Thailand - The Mlssion 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 Ihe Mission- The Dunkirk War Memorial Trust Ltd. The Flying Angel Belfast Ltd. The Mission to Seafarers Scolland Ltd. The Mission to Seafarers Trust Corporation Ltd. The subsidiaries employ no staff (2023.. none). Please see Note 2 for further informalion about the above subsidiaries and their 2024 resulls. 22

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 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 duly to provide a high quality and effective service very seriously.11 is dependent upon our ability to attract and retain suitably qualified employees with the right knowledge, skills and experience. The Remuneration Commitlee, which consisls ofthree Trustees, has delegaled responsibility from the Board lo 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 ar8 linked lo the Retail Price Index (RPI) and the Consumer Prices Index (CPI). Inflationary awards are also annually benchmarked against the awards of partner Church of England mission agencies. Any inflationary awards or salary adjuslments 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, lo establish the grade of the role based on thejob size, complexity and level of responsibility. The salaries of chaplaincy staff employed from IHQ are set with reference to the Church of England Nalional SIIp8nd Benchmark as a minimum, and chaplaincy roles in other sectors. Lay staff salaries within the UK are benchmarked against annually published charity reward surveys. Locally employed chaplains and lay staff are pald a fair wage based on local levels. The Remuneratlon Committee has adopted a policy of paying median salaries Gompared to charities of a similar size and nature, to ensure compeliliveness. The Committee approved a policy of paylng all staff above Ihe Real Living Wage which was implemented from 2015. In JulylAugust 2023 a market review was conducted to better understand where the Mission sits in the UK market with regard tL) compansation, b8nefils and working practices. The Mission invited 15 partner organisations to participate in the survey as comparators and 9 provided data for inclusion. 'l-he markel review indicated that the wages and benefits provided to the Mission's employees are in line with what obtains in the sector. Accordingly, the Trustees consider that the remuneralion policy of the charity is fair and transparent. PublSc Beneflt The 8clivilies, achievements and plans relating to the Mission's work are detailed in pages 3 to 17 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 aclivilies 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 Charilies Act 201110 have due regard to Ihe public benefit guidance published by the Charily Commission in determining the activities undertaken by the charity. 23

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Truslees {who are also directors of The Mission lo Seafarers for th8 purposes of company law) are responsible for preparing the Trustees. Annual Report including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accountlng Standards (Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under that law the direclors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Truslees are required to= select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP FRS10212019)', make judgements and accounting estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financi81 statements., prepare the financial statements on the going concern basis unless It Ss inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any lime Ihe financial position of the group and charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Truslees are responsible for the maintenanLe and integrity of the corporate and finann.ial information included on the charitable company's website. Legislation in Ihe United Kingdom goveming the preparation and dissemination of financial slatemenls may differ from legislation in other jurisdictions. In so far as the Trus188s are aware.. there is no relevant audit infomiation of which the charitable company's auditor is unaware,. and the Trustees have taken all steps that they ought to have laken to make themselves aware of any relevant audil Information and to establish Ihal Ihe auditor is aware of that information. Approved and authorlsed for Issue by the Board on 30 April 2025 and slgned on its behalf by.. Thomas Boardley Chair of the Board Gary Chapman Chair Audit and Rlsk Committee 24

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 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 Ilhe 'group'l for the year ended 31 December 2024 which comprise of the Consolidated Statement of Financial Activities, the Consolidated and Company Balance Sheets, the Consolidated Statement of Cash Flows and notes lo the financial statements, including significant accounting policies. The financial reporting framework thal 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 Irue and fair view of the state of the group's and parent charitable company's affairs as at 31 December 2024, 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 Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor respor)sibilities for the audit of the financial statements section of our report. We are independenl of the group and parent charitable company in accordanc8 with the ethical requirements that ar8 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 oblained 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 relatin9 to events or conditions that, individually or collectively, may cast significant doubl on the group and parent charitable company's ability to continue as a going concern for a period of at18ast twelve months from when the financial statements are aulhorised 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 ￿pOrt. other than the financial slatemenls and our audilo¢s report thereon. The Trustees are responsible for the olher information conlained within the annual report. Our opinion on the group financial statements does not cover the other information and. except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the olher information and, in doing so, consider whether the other information is materially incon51Stent 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 lo determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude Ihat there is a material misstatement of this other infonnation, 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- 25

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 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 slatemenls,. and the slralegiG report has been prepared in accordance with applicable legal requirements Matters on which we are required to report by exceptlon 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 misslatements in the strategic report and the directors, report. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006 requires us to report lo 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 nol 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 Inancial 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 slatemenls. the Trustees are responsible for assessing ihe group ané 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. Audltor 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 stat8ments 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 il exists. Misstatements can arise from fraud or error and are considered material if, individually or in ihe aggregate, they could reasonably be expecled to influenGe the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl 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 slalements, 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 & safely. 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 26

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MISSION TO SEAFARERS officers of the Charitable Group and 2 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 Charily Commission. Management override: To address the risk of management override of controls. we carried out testing of joumal 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 policles adopted and In detemining significant accounting estimates, including treatment of legacies and grant income, and the valuation of investments. 8ecause of the inherent limitalions of an audit, there is a risk that we will not delect all irregularities, including those leading lo 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 slatemenls, as we will be less likely to become aware of instances of non-cornpliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves Intentional concealment. forgery, colluslon, omission or misrepresentalion. A further descripiion of our responsibilities is available on the FRC'S website at: htt s.'Ilwww.frc. -uklauditorslaudit-assurancelaudilor-s-res onsibililies-for-the-audit-of-the-fildescri th -auditor° 9s-res onsibilltl -f r. This descriplion forms part of our audilor's report.. We communica18 Wlth those charged with governance regarding, among other matters, Ihe planned scope and timing of the audit and significant audit findings. including any significant deficiencies in intemal 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 slate to Ihe parent charitable company's members and its Trustees those matters we are required to stale lo them in an audito¢s report and for no other purpose. To the fullest extent permitted by law, we éo not aGGepl or assume responsSbilily lo anyone other than the parent charitable company and the parent charitable company's members as a body and the parent charitable company's Trustees 8S 8 body, for our audit work, for this report, or for the opinions we have formed. Suzanne Goldsmith FCA (Senior Statutory Auditorj For and on behalf of Price Bailey LLP Chartered Accountants Statutory Auditors 3rd Floor, 24 Old Bond St, Mayfair, London W1S4AP 15 July 2025 27

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING A CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AT 310ECEMBER 2024 Notes Unrestricted Restricted Funds Funds £'ooo £'ooo Total Untsstricted Restricted Total 2024 Funds Funds 2023 £'ooo £'ooo £'ooo £'ooo Income: Donations and legacies Charitable activities (Provision of services lo seafarers) Other trading activities {CommerGial Trading) Investments Olher 3,306 942 4,248 3,059 771 3,830 223 223 201 201 154 154 693 693 1,113 25 1,113 25 1, 060 1, 060 Total Income 4,821 942 5,763 5,019 771 5. 790 Expendllure: Raising Funds (commerci81 tr8ding and Fund raising 8Ctivili8s) Charitable activities (Provision of Se￿ICeS to S88farers) 1,155 1,155 1.136 1,136 4,729 739 5,468 3, 783 918 4,701 Total Expenditure 5,884 739 6,623 4,919 918 5,837 Net incomel(expendilure) from operational activities for the year Not gainsl{losses) on investments {1,063 203 {860) 100 (747) (47) 17 658 658 2.411 2,411 Net Incomel{expendlture}I for the year {405) 203 {202) 2,511 (147) 2.364 Transfers be￿een funds Other recognised (losses) Foreign Exchange {Ioss8sllgains 21 71 (71) 45 (45) {11) (24) {24) Net Movement in Funds {345 132 (213) 2,532 (192) 2.340 Reconciliation of Funds Total funds brought fonNard Total Funds Carried Forward 41,389 641 42,030 38,857 833 39.690 22 41.044 773 41,817 41.389 647 42,030 All activities are conlinuing except for the Dunkirk War Memorial Trust which ceased operations in France on 30 November 2021 (see Note 2.1). Notes I to 28 form part of these Financial Stalements. 28

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2024 Company Number 6220240 Notes Unrestricted Funds Restricted Funds Total 2024 Total 2023 As restated £'ooo 129 £'ooo 66 £'ooo 33 £'ooo 99 Intangible Fixed Assets Fixed Assets Tangible assets Investments 16 16 17 3,988 27,303 429 4,417 27,303 4.398 2T,845 Total fixed assets 31,357 462 31,819 32,372 Current Assets Stocks Debtors Investments- short term deposits Cash at bank and in hand 21 1,471 83 8,910 21 1,471 83 9,221 21 834 51 9,217 18 311 Total current assets 10,485 311 10,796 70, 123 Llabilities Creditors falling due within one year 19 798 798 465 Net current assets 9,687 311 9,998 9. 658 Nel assets excludlng pension liabillty Multi-employer defined benefit deficit funding provision 41,044 773 41,817 42,030 15 Total net assets 41,044 773 41,817 42,030 Charity Funds Unrestricted general Unrestricted designated Restricted income funds 21 21 20 27,110 13,934 27,110 13,934 773 24,971 16,418 641 773 Total Charity Funds 41,044 773 41,817 42.030 Approved and authorised for issue by the Board on 30 April 2025. Signed on its behalf by.. Thomas Boardley Chair of the Board Gary Chapman Chair Audit and Risk Committee Notes 1 to 28 form part of these Financial Statements. 29

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 COMPANY BALANCE SHEET AT 31 DECEMBER 2024 Company Number 6220240 Notes Unrestricted Funds Restricted Funds Total 2024 Total 2023 As restated £'ooo 129 £'ooo 66 £'ooo 33 £'ooo 99 Intangible Fixed Assets Fixed Assets Tangible assets Investments 16 16 17 3,988 27,303 429 4,417 27,303 4.398 27,845 Total fixed assets 31,357 462 31,819 32,372 Current Assets Stocks Debtors Investments- short term deposits Cash al bank and in hand 20 20 20 18 1,467 83 8,756 1,467 83 9,067 987 51 8,906 311 Total current assets 10,326 311 10,637 9,964 Liabilities Creditors falling due wlthin one year 19 805 805 467 Nel current assels 9,521 311 9,832 9,497 Net assels excluding pension liability Multi-employer defined benefit deficit funding Provision 40,878 773 41,651 47,869 15 Total net assels 40,878 773 41,651 41,869 Charity Funds Unrestricted gener81 27,110 27,110 24,971 Unrestricted designated Restricted income funds 13,768 13,768 773 16,257 641 20 773 Total Charlty Funds 40,878 773 41,651 41,869 Approved and authorised for issue by the Board on 30 April 2025. Signed on its behalf by: Thomas Boardley Chair of the Board Gary Chapman Chair Audit and Risk Committee Notes 1 to 28 form pari of these Financial Statements. 30

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 CONSOLIDATED STATEMENT OF CASH FLOWS AT 31 DECEMBER 2024 Company Number 6220240 2024 £'ooo 2023 £'ooo Notes Cash flows from operating activities: Net cash (used in)/provided by operating activities 24 {2,1451 (1,534) 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 1,113 24 (145) 1,060 (86) 1,200 1.107 Nel cash provided byl(used in) investing activlties 2,192 2,086 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the beginning of the reporting period 47 552 9,268 8, 740 Change in cash and cash equivalents due to exchange rate movements (24) Cash and cash equivalents at the end of the reporting period 25 9,304 9,268 Noles 1 to 28 form part of these Financial Statements. 31

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 1. ACCOUNTING POLICIES The Mission to Seafarers (the Mission) a company limited by guarantee (No. 6220240) 2nd a charity {No. 11236131 both registered in England and Wales. The registered address is Firsl Floor. 6 Bath Place. Rivinglon 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- Slalemenl 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) {effeclive 1 January 2019) (SORP (FRS102)l and the Companies Act 2006. The Mission to Seafarers meels the definition of a public benefit entity under FRS102. The Financial Statements have been prepared in sterllng and rounded to the nearestthousand pounds under the hislorical cosl convention (modified to present investments at market value) and in accordance with applicable UK accounting standards, 1.2 Golng concern At the balance sheet date the Trustees Consider that ther8 are no material uncertainties about the Mission's ability to continue as a going concern. The most significant areas ofadjustment and key assumptions that affect items in the accounts are to do with estimating legacy income. With regard lo 2024, the most significant areas of uncertainty for the Mission are the level of donation income which needs lo be raised each and every year, especially as the impact of high Inflatiori dl)d the cost of living Criols ongoing. 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 Stalements 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 'Slatement of Financial Activities, {SoFA} can be found at note 27. The Company, Balance Sheet on page 30 includes the assets and liabilities of the branches detailed on page 22. 1.4 Fund accounting nr led funds are available to spend on activities that further any of the charitable objectives of the Mission. Desi naled 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 a150 further the charitable activities of the Mission. Details of restricted funds are set out in note 20. Transfers lo unrestricted funds represent the release for the year of these grants or donations. For capital grants, a transfer is made to unreslricted funds over the estimated useful lives of the assets to which they relate, matching depreciation charged to the unrestricted funds. 32

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 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, il 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 rants and ifts are recognised when receivable. In the event that a donation is sublect lo fulfilling performance conditions before the Mission is enlilled lo the funds, the income is deferred and not recognised until il Is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid lax 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. acies are recognised at the earlier of actual receipl or on receipt of Estste 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 lille to the asset has passed lo the Mlsslon. The Mission maintains a legacy pipeline system which. in addition to accrued legacies, includes further estimated legacies ofwhich the Mission is aware bul 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 £nil {2023.. £nil). Even income received in advance for a future fundraising event or a grant re￿iVed relating to the following year are deferred until the criteria for income recognition are met. Intere nde osit f nd divid s on inveslm nt are recognised when Ihe amounls can be measured reliably which is normally upon nolificalion of the amount paid or payable by the bank or when the dividend yield has been nolified by our investment advisors. on takes place. from events, fundraising and events regislralion fees are recognised in income when the event Tradin income, including primary purpose sales to seafarers, is recognised at Ihe point of sale. 1.6 Expenditure and irrecoverable VAT Expendilure is accounted for on an accruals basis and is recognised once there is a leg81 or constructive obligation lo make a payment lo a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. ralin lease costs are charged on a straight line basis over the18ase term. Irrecoverable VAT is charged lo support costs which are then reallocated to the headings on the SOFA. See note 8 for a further analysis of expenditure. Charitable ex It includes.. enditure comprises expenditure directly relating to the objects of The Mission to Seafarers. Employment and associated cosls of chaplains including recruilment and trainlng Advice and training provided to the global Mission family and linked organisalions worldwide Services lo seafarers such as providing transport, communication facililies and access to centres or specific projects to address the needs of seafarers. The costs of educational malerial and information for seafarers together with the newspaper for seafarers, the Sea. ort costs such as irrecoverable VAT, depreciation and governance costs (including secretarial and administralive support from the Mission's Internalional Headquarters) are allocated to Charitable Activities and Costs of Raising Funds on the basis of head count at Intemational Headquarters. {See note 91 Governance cosls comprise amounts related lo conslilutional and statutory requirements and include Staff costs, audit fees, professional fees and Trustees, expenses. 33

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 1.7 Donated serylces Donated services or facilities are recognised when the Mission has control over the ilem, any conditions associated with the donated item have been mel. 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 cenlres, transporting seafarers and ship visiting, they complemenl 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 bul their priceless contribution lo the Mission is further refeired to throughout in the Trustees, Annual Report and Accounts and specifically in 'Our Mission, on page 3. 1.9 Fixed assets Intangible fixed assets are non-monelary assets which will be amortised on a straighl-line basis over the useful life of the asset. Happy at Sea seafarers, app.. amortised over three years. Custom software for fundraising over six years. Intangible and T8ngible fixed assets are staled in the Balance Sheet at historical cost less amortisationldepreclatlon. 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.. six years Fixtures and equlpment.. between five and ten years Short leasehold bulldings.. over the term of the lease Computer equipment: three years Freehold land and properties.. Where the Trustees consider that the expected us8lul life of freehold land and bulldlngs is in excess of 50 years and the carrying value in the Financlal Statemenls is not more than the estimated recoverable amount, no depreciation is charged. The Trustees have carried out and will continue lo carry out annual reviews of impairment for land and property. An asset will be considered impaired if Ihe deemed value in use or the nel 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 hisloric cost will be recognised in the accounts. 1.10 Revaluatlon of tanglble flxed assels The Mission has not adopted the revaluation model for freehold propety and those assels 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 rale, as reported by the investment managers. The Trustees confinn that the difference in the value of investments be￿een their valuation policy and the closing market valuation required by SORP {FRS102) is immaterial. Net gains and losses on revaluation and dlsposals 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 be￿een sales proceeds and their opening carrying value or their purchase value if acquired subsequent lo the 1 January. Unrealised gains and losse5 are calculated as the difference between the fair value al the year end and their carrying value. Realised and unrealised Investment gains and losses are combined in the SOFA. The main fomi of financial risk faced by the Mission is Ihat of volatility in equity markets and inveslmenl markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment conceming equities and within particular sectors or sub sectors. 34

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Investments- short term cash includes cash and short term highly liquid investments with a short maturity of over three months from the date of acquisition or opening of the deposit or similar account. 1.12 Stocks Stocks are valued at the lower of cost and nel realisable value. 1.13 Deblors Debtors are recognised al the settlement amount due after any trade discount offered. Prepayments are valued at the amounl prepaid net of any trade discounts due. Accrued income and tax recoverable is included al 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 lemi highly liquid investments with a short maluriiy of three months or less from the date of acquisltlon or opening of the deposit or similar account. The 2023 figures for Investments- short term deposits (Group and Company £7.959,0001 and Cash al bank and in hand {Group £1,309,000 and Company £998,000) have been restated lo Investments short term deposits (Group and Company £51,000) and C8sh at bank and in hand (Group £9,217.000 and Company £8.906.000) as not all of the funds held in short term deposit accounts were subject lo notice of more than three months and so are now shown in Cash al bank and in hand. 1.15 Creditors Creditors are recognised where the Mission has a present obligation resultlng from a past event that will probably resull in the transfer of funds lo a third party and th8 amount due lo settle the obligation can be measureé or estimated reliably. Credilors are normally recognised at Iheir settlement amount after allowing for any trade discounls 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 th8 subsidiaries and the Mission form a public benefit enlily group. The loans are recognised and measured at the amount paid. The carrying amounl 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 Flnanclal Instrumenls The Mission only has financial assets an(J financial Ilabililies of 8 kind that qualify as basic financial inslrumenls. 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 r8corded 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 lo join a pension scheme. The Mission lo Seafarers makes contributions to defined benefit and defined contributlon 'money purchase, schemes. The defined benefit scheme is a Church of England multi-employer pension scheme which is only open to ordained chaplains and is non-contributory for employees. The pension contribution rate payable is set by the Church of England Pensions Board. All olher eligible staff are aulo-enrolled in to the money purchase scheme which is managed by Royal London (formerly Scottish Life) but employees can choose to opt out if they wish. The plan invests the contribulions made by the employee (minimum 30/0) and employer {70/0) 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 ils contributions and the deductions for the employee's contributions. 35

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 1.19 Foreign currency translation With the exception of investments, transactions in foreign currencies are recorded al 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 2070 and Iherefore it meets the definition of a charitable company for UK corporation13x purposes. Accordingly, the Mission is potentially exempi 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 Acl 1992. to the extent that such income or gains are applied exclusively lo charitable purposes. 1.21 Judgements and key sources of estimation uncertainty No judgements (apart from those involving eslimatesl have been made in the process of applying the above accounling policies. The Trustees make estimates and assumptions concerning the future based on their knowledge of the Mission and the environment in which il operates. The resulting accounting estimates and assumptions will, by definition, seldom 8qual the related actual outcome. 2. SUBSIDIARY AND CONNECTED UNDERTAKINGS See note 17.2 for Investments in subsidiaries. 2.1 The Dunklrk War Memorlal Trusl Ltd Company No. 185130, Charliy No. 236806 The Dunkirk War Memorial Trusl Limited IDWMT) was set up in 1922 as a charity to provide premises and facilities for the use of seafarers within Ihe 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. 2024 £'ooo 2023 £'ooo Investment Income Total Income Charitable activities Total Expenditure Net income Net gainlllossl on investments Foreign exchange {loss)Igain Net Gainl(Los5l Retalned in Subsidiary 36

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 2.2 Flying Angel Marketing Enterprises Ltd (FAME) Company No. 00933115 The Mission to Seafarers owns the whole oflhe issued share capital of FAME. One trustee and a current direclor of the Mission sil 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 parly to any commercial agreement that is not considered a charitable activity of The Mission to Seafarers. Any tsxabie profit from trading is gifted to The Mission to Seafarers. 2024 £'ooo 2023 £'ooo Tumover Cost of Sales (1) (1) Gross Profit Administration. Donation to The Mission to Seafarers {2) Net Galn Retained In Subsidlary 2.3 The Flylng Angel Belfast Ltd Company No. N1605252 The Flying Angel Belfast Ltd was sel up lo operate catering services in The Mission to Seafarers, Belf8St premises. All the shares in this company are owned by The Mission to Seafarers. Any iaxable profil is gifted to The Mission to Seafarers. 2024 £'ooo 17 {7) 2023 £'ooo 13 (5) Turnover Cost of sales Gross Profit 10 Administration Donation to The Misslon to Seafarers {8) {2) Net Gain Retalned in Subsidiary 2.4 The Mlsslon to Seafarers Scotland Ltd Company No. SC389483, Charlty No. SC041938 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. 2024 £'ooo 101 2023 £'ooo yoo 70 Donations Charitable activities Other trading Total Income 110 112 Raising Funds Charitable activities (3) (102) (i) (98) Total Expenditure 1105) (99) Net Gain Retained in Subsidiary 13 37

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 2.5 The Mission to Seafarers Trust Corporation Ltd (MTSTCI Company No. 38498 MTSTC holds real property and investments as custodian trustee on behalf of The Mission to Seafarers. 11 has no transactions on its own account. All the shares are owned by the Mission. 3. DONATIONS AND LEGACY INCOME Unrestricled Restricted Funds Funds £'ooo £'ooo 1,054 194 1,641 51 522 697 89 2024 Unr8Stricted £'ooo Funds Total £000 1,248 7,378 1,692 1,214 1,219 393 89 74 Reslricled Funds £'ooo 173 2023 £'ooo Total 1,551 1,222 983 74 General donations Legacies General grants Vot8 4 (Pension nole 15) 590 Total 3,306 942 4,248 3,059 771 3,830 4. CHARITABLE ACTIVITIES INCOME 2024 £'ooo 2023 £'ooo Provision of seNices lo seafarers 223 201 Total 223 201 There was no restricted charitable activity incorne In 2024 or 2023. 5. TRADING ACTIVITIES INCOME 2024 £'ooo 2023 £000 Trading activities Fundraising events Property rentsl 16 48 90 24 589 80 Total 154 693 There was no restricted trading activity income in 2024 or 2023. Rental Income represents monies received from properties held as fixed assets that are not fully occupied for The Mission lo Seafarers. own aclivilies and are let out in furtherance of our charilable activilies or because they are temporarily surplus lo operational requirements. 6. INVESTMENT INCOME 2024 £'ooo 2023 £000 Listed investments: Dividends - equities Bank dep051t interest 769 344 786 274 Total 1,113 1,060 There was no restricted investment income in 2024 or 2023. Income from unlisted investments is shown gross, including tax reclaimable. 38

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 7. OTHER INCOME 2024 £'ooo 2023 £'ooo Surplus on disposal of properties Surplus on disposal of olher assets Other 24 Tolal 25 There was no restricted other income in 2024 or 2023. 8. ANALYSIS OF EXPENDITURE Direct Costs £'ooo Total 2024 £'ooo Direct Costs £'ooo Total 2023 £'ooo Support £'ooo Support £'ooo Raislng Funds: Appeals and events Commercial trading: sale of Christmas cards and catering Promotional materials and media 744 12 287 1,031 13 757 274 1,031 11 80 31 69 25 94 Total Raising Funds 836 319 1,155 835 301 1, 136 CharStable actlvltle8: Port based welfare servlces Ship visiting and ministry lo seafarers Transport for seafarers and ship visiting Branch and cenlre operations Grants lo support ministry around the wodd (see note 101 the Sea publication for seafarers Advocacy, welfare and emergency response Digital welfare and support Programmes for the wellbelng of seafarers and their families 1,730 399 2,129 1.448 358 1,806 122 24 146 118 26 144 652 1,024 137 257 789 1,281 372 1,050 67 282 439 1,332 10 12 14 18 275 57 332 269 61 330 270 68 338 188 51 239 370 71 441 326 67 393 Total Charltable Activities 4,453 1,015 5,468 3, 785 916 4,707 TOTAL EXPENDITURE 5,289 1,334 6,623 4,620 1,217 5,837 39

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Analysis by department 2024: Advocacyl Minlstry £'ooo Fund Raising £'ooo 436 400 Total 2024 £'ooo 3,411 3,212 Comms Regions £'ooo 1,502 1,923 Support £'ooo 731 603 £'ooo 91 230 Staff Costs (note 11) All other costs Total expenditure 651 56 707 321 3,425 836 1,334 6,623 Analysis by department 2023: Advocacy/ Ministry £'ooo 543 57 Fund Raising Tot81 2023 £'ooo 2.985 2, 852 Comms £'ooo 80 185 Regions £'ooo 1,302 1,618 Support £'ooo 662 555 £'ooo 398 437 Staff Costs (note 11) All other Costs Tot818xpenditure 600 265 2,920 835 1,217 5,837 9. ANALYSIS OF SUPPORT COSTS Support costs nol directly attributable lo the headings on the Statement of Financial Activities are reallocaled on the basis of headcount at the Mission's International Headquarters as foll0v￿. Basis of apportionment Management & admin Finance HR IT Property Governance £'ooo £'ooo £'ooo £'ooo £'ooo £'ooo 2024 Total £'ooo 2024 Cost of Charitable Headcount at activities IHQ Raising Headcounl al fund5 IHQ 527 172 125 65 52 74 1,015 165 55 39 21 17 22 319 692 227 164 86 69 96 1,334 Support costs lotal Basis of apportionment Management & admin £000 2023 Property Govem3nce Total £'ooo £'OOO £'GOO 2023 Finance HR IT £'ooo £'ooo £'ooo Cost of Ch8ritabl8 Headcount at 8Ctivities IHQ Raising Headcount 8t funds IHQ 502 171 91 59 44 49 916 164 57 30 20 14 16 301 666 228 121 79 58 65 1,217 Support costs total Audit fees included in governance costs for the group amount to £32,500 (2023.. £38.625) and there were no other fees in respect of non-audil services (2023.. none). Depreciation costs total £156.000 {2023.. £123,000). Operating lease payments total £35,740 with buildings £33,890 and other £1,850 (2023: £34,960 - buildings £33,110 and other £1,850). 40

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 OECEMBER 2024 10. MINISTRY AND PROJECT GRANTS Grant recipient Portlcountry or Region 2024 £'ooo 2023 £'ooo The Mission to Seafarers Central Resource Committee, SA Bermuda Sailors Home Asociacion de la Iglesia Anglicana The Australian Council of The Mission to Seafarers The Mission to Seafarers Sydney Bahrain Anglican Church Council The Mission to Seafarers Ant￿erp Igreja Episcopal Anglicana do Brasll Igreja Episcopal Anglicana do Brasil Associacao Anglicana do Nordesle The Mission to Seafarers Canada The Mission to Seafarers Canada The Mission to Seafarers Canada St John Seafarers Mission Inc The Episcopal Church of Costa Rica Diocese of Cyprus Province of Alexandria for the Anglican Church Assn Rouennaise Amis Des Marins The Mission to Seafarers Papeete The Mission to Seafarers Oceania Council The Diocese of Kolkala The Mission to Seafarers Dubai Tuticorin Nazareth Diocesan Trusl Yayasan Pelayanan Pelaut Anglican The Mission lo Seafarers Kobe The Mission lo Seafarers Mombasa The Mission to Seafarers Yangon The Mission to Seafarers Walvis Bay The Mission to Seafarers Rolterdam Stichting Zeemanshuis Flying Angel Rotterdam The Mission to Seafarers Lagos The Mission to Seafarers Central Resource Committee, SA The Mission to Seafarers Oceania Council The Mission to Seafarers Oceania Council Africa region 82 102 Bermuda Buenos Aires, Argentina Australia Sydney, Australia Bahrain Belgium Acu, Brazil Belem, Brazil Suape, Brazil Canada region Halifax, Canada Newfoundland, Canada St John, Canada Costa Rica Limassol, Cyprus Ports Said & Suez, Egypt Ruuen, France Tahiti, French Polynesia Tahiti, French Polynesia Kolkata, India JNPT, India Tuticorin, India Indonesia Yokohama, Japan Mombasa, Kenya Yangon, Myanmar Walvis Bay, Namibia Rotlerdam, Netherlands Schiedam, Netherlands Nigeria Nigeria 10 14 99 24 78 25 52 34 44 32 23 23 24 20 26 25 15 15 43 15 52 15 50 26 34 21 50 82 22 24 26 Nelson, New Zealand Oceania region & Wellington, New Zealand Papua New Guinea Singapore Cape Town. South Africa Durban, South Africa Port Elizabeth, South Africa Richards Bay, South Africa 8usan, South Korea Colombo, Sri Lanka 35 42 49 The Australian Council of The Mission to Seafarers The Mission lo Seafarers Singapore The Mission to Seafarers Cape Town Durban Seafarers Mission The Mission to Seafarers Port Elizabeth The Mission to Seafarers Africa Region The Diocese of Busan The Mission to Seafarers Colombo 56 28 68 34 67 32 28 41

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 The Diocese in Europe Church of St John the Evangelist Queen Victoria Seamans Rest Baltimore International Seafarers Centre Houston International Seafarers Centre Thomas Morrow Norwegian Seamans Church St Olavs Church The Mission lo Seafarers Seattle Corpus Christi Internatlonal Seamans Centre Poinl Comfort Seafarers Centre North American Maritime Ministry Association Total Izmir, Turkey Izmir, Turkey Tilbury, UK Baltimore. USA Houslon,Texas, USA Houston,Texas. USA Long Beach and LA, USA Long Beach and LA, USA Seatlle, USA Texas. USA Texas, USA USA 10 io 13 40 15 41 59 12 16 21 28 1,024 1,050 The Mission to Seafarers makes granls to maritime organisations whose work will fulfill our charitable objectives. Grants are lo 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 Underslanding (MOUI. 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 Slaff costs 2024: Charltable AcllvltSes £'ooo 1,411 133 123 555 Ralslng Funds £'ooo 313 35 18 92 Total 2024 £'ooo 2,205 222 171 813 Support £'ooo 481 54 30 166 Wages and salaries Social $8curily costs Other pension costs Other Staff costs Tolal 2,222 458 731 3,411 Average head count 46 10 63 Full time equivalent 40 56 Staff costs 2023.. Charitable Activit18S £'ooo 1,206 122 127 450 R8ising Funds £'ooo 303 34 20 61 Total 2023 £'ooo 1,955 205 173 652 Support £'ooo 446 49 26 141 Wages and salaries Social security costs Other pension costs Olher Staff costs Total 1,905 418 662 2,985 Average head count 46 10 63 Full time equivalent 40 56 42

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Other staff costs include recruitment, compensation for loss of office, training, welfare of overseas employees, lemporary staff and travel related costs. No redundancy costs were made in 2024 (2023: none). Employees with remuneration {excluding benefits in kind) In excess of £60.000: £6Q,000 to £70,000- 1 (2023. 0) £70,000 to £80,000- 4 (2023.. 3) £80,000 to £90,000- 1 (2023.. 1) £90.000 to £100,000 - 1 {2023- 1) 12. KEY MANAGEMENT PERSONNEL REMUNERATION AND BENEFITS The 2024 Senior Management Team comprised the Secretary General, the Chief Operating Officer, the Director of Development. the Director of Finance and the Dlrector of Programme. The team's total remuneration and benefits package conslsted of salary. pension contributions. health insurance and the tax thereon. 2024 £'ooo 2023 £'ooo Total salary pard lo Senior M8n8gement Team Total of olher benefits Employer social security costs on salary and benefits 473 38 61 408 39 53 Total 572 500 13. TRANSACTIONS WITH TRUSTEES No trustee (2023.. none) received remun8ralion during the current year. Durlng Ihe year £3.570 01 expenses {2023'. £9,907) were relmbursed dir8clly to four trustees (2023.. six trustees) and £3,112 (2023: £1.5121 was paid lo Ihlrd parties for subsistence and travel to attend meetings or events for and on behalf of The Mission to Seafarers and for trustee training and recruitment. £922 was spent on Irustee leaving gifts (2023.. £684). The total amount paid was £7,604 (2023- £12,103). 14. RELATED PARTY TRANSACTIONS During the year paymenls were made to six related parties12023.'3). £10,738 was paid for membership and conference fees to ICMA (2023.. £10,619) where the former Secretary General Andrew Wright was a trustee, £4.000 {2023: £4.000) was paid for room hire for an event at Trinity House where trustee Neale Rodrigues was a Younger Brother. £625 (2023.. £933) ofmembership fees were paid to The Worshipful Company of Shipwrights where trustee Alexander Harwood is a liveryman, £57.417 of grants were paid to the Durban Seafarers Mission where trustee Peter Cottrell was chair, £40,951 of grants were paid to The Mission to Seafarers Rotterdam where the Chief Operating Officer was a member of the committee and £133,466 of grants for the Africa Region were made lo the Africa Regional Council where the Chief Operating Officer was a member of the Council. Pro-bono legal and governance services were provided to the Mission by HFW where former trust88 William MacLachlan was a partner. The value of those services has not been confirmed by HFW. There were no other related party transactions and no outslanding balances (2023.. none) due at 31 December 2024. 15. PENSIONS 15.1 Multi4mployer Defined Benefit Schemes Until 31 December 2023, The Mission to Seafarers participated in two ofthe Church of England's Multi-employer Defined Benefits Schemes administered by the Church of England Pensions Board. These were., The Church of England Funded Pensions Scheme (CEFPS) for the clergy The Church of England Defined Benefits Scheme {CEDBSI for lay employees of Church of England organisations. 43

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 The assets of both schemes were 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 lo Seafarers has irealed these schemes as multi-employer schemes as described in Section 28 of FRS102. This means that contributions are accounted foras ifthe Schemes were defined ¢onlribution schemes. Each participating Responsible Body in the scheme pays conlribulions at a common contribution rate applied to pensionable stipends. The legal struclure of the scheme Is such thal if another Responsible Body fails, The Mission lo Seafarers could become responslble for paying a share ofthal Responslble Body's penslon liabilities. The pensions costs charged to the SOFA in the year are contributions payable towards benefits and expenses accrued in Ihe year, plus any impacl of deficit contributions. 15.2 CEFPS A valuation ofthe Scheme is carried out once every ihree years. The most recent valuation of Ihe CEFPS was carried out as al 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°A p.a.. RPI inflalion of 3.6¢*/o p.a. (and pension increases consistent with this),. CPIH inflation in line with RPI less 0.8010 pre 2030 moving lo RPI with no adjustment from 2030 onwards,. Increase in pensionable stipends in line with CPIH. Mortality in accordance with 900/0 of the S3NA tables, with allowance for improvements in mortality rates in line with the CM12020 extended model with a long term annual rale of improvement of 1.5¢/0. a smoothing parameler of 7, an initial addition to mortality improvements of 0.50/0 pa and an allowance for 2020 data of OQ/o {i.e. w2020 - 00/01. Following flnalisation of th8 31 December 2021 valuatlon, deficit contributlons ceased wllh effect from 1 January 2024, since the Scheme was fully funded. The deficit recovery contributions under the recovery plan in force at each 31 December were as follows: OAof ensionable stl ends 7.1Q/o payable from January 2021 to December 2022 31 December 2021 31 December 2022 31 December 2023 31 December 2024 An interim reduction to deficit contributions to 3.20/0 of pensionable slipends was made with effect from April 2022 and remained in place until December 2022. For senior office holders, pensionable stipends are adjusted in the calculations by a mulliple. as sel out in the Scheme's rules. Section 28.11 A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. However, as there are no deficit recovery payments from 1 January 2023 onwards, the balance sheet liability as at 31 December 2023 and 31 December 2024 is nil. The movement in the balance sheet liability over 2023 and over 2024 is set out in the tsble below. 44

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Deficit liability- CEFPS 2024 £'ooo 2023 £000 Balance sheet liability at 1 January Deficit contributions paid Interest cost Change to balance sheet liability. Balance sheet Ilabllity at 31 December Assumptions: Discount rate Price Inflation Increase to total pensionable payroll nla nla nla n/a n/a n/a 'comprises change in agreed deficil recovery plan and change in discount rate and inflation assumptions bel￿een year ends. 11 {2023.' 11) ofThe Misslon to Seafarers, employed chaplains are currentlyfunded by the Archbishops. Council under Vote 4 provlsions. Employer's contributions of£88,700, representing current Contributions (2023.. £74.000 represenling current conlributionsl were paid by the Mission to the CEFPS and are includ8d in Staff costs (note 11). This amount was reimbursed by the Archbishops Council and is included in Donations {note 3). 15.3 CEDBS (also known as the Church Workers Pension Fund) The Mission to Seafarers ceased to participate in the Church Workers Pension Fund from 1 January 2024 as the scheme's trustees had decided to close the fund whilst it was in surplus. Previously the CEDBS had two sections known as the Defined Benefits Scheme and the Pension Builder Scheme (which had subsections,. a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 20141. The Defined Benefils Scheme {'DBS"I section of the Church Workers Pension Fund provided benefits for lay staff based on final pensionable salaries. For funding purposes, DBS was 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 existed to share certain risks be￿een employers, including those relating to mortality and post-retirement investment returns. The division of the DBS into sub-pools was notional and is for the purpose of calcul81ing ongoing contributions. This does not alter Ihe fact that the assets of Ihe DBS were held as a single trust fund out of which all the benefits are to be provided. From time to time, a notional p￿rn1￿M was transferred from employers, sub-pools lo the Life Risk Pool and all pensions and death benefits were paid from the Life Risk Pool. The scheme was a multi-employer scheme as described in Section 28 of FRS 102. It was not possible lo attribute DBS assets and liabilities lo specific employers, since each employer, through the Life Risk Section, was exposed lo actuarial risks associated with the current and fomier employees of other entities participating in D8S. This means that conlributions were accounted for as if D8S were a defined contribution scheme. If, following an actuarial valualion of the Life Risk Pool. there was 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-poolsl will be settled by the Church of England Pensions Board having taken advice from the Actuary. A valuation of DBS was 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 Ihe employers, sub-pools to the Life Risk Section. This increased the Mission's contributions that would otherwise have been payable. The overall deficit in OBS was £11.3m {last valuatiorb al 31 December 2016.. £26.2m deficit). Following ihat valuation, The Mission to Seaf8rers entered into an 45

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 agreement with the Church Workers Pension Fund to pay a contribution rate of 32.70/0 of pensionable salary and expenses of £3,200 per year. The next actuarial valuation was due at 31 December 2023 and early indications were that the fund was in surplus. Consequently, Ihe CEDBS decided to close the scheme and secure all members pensions through a full 'buy-in' with an insurance company which would insure all the remaining benefits in Ihe scheme whilst removing investment and mortality risks. The Mission agreed to close its section of the scheme from 1 January 2024 and the last active member was transferred out from this scheme to the CEDBS scheme. DeflGIt Ilablllty - CEDBS Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The 31 December 2024 balance sheet liability is £nil (2023: £nil). The legal structure of the scheme was such that if another employer fails, The Mission to Seafarers could become responsible for paying a share ofthat employer's pension liabilities. The Mission currently has no active members (2023.. 1) and 6 (2023: 5) def8rred 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 /0 by the employee and 70/0 by The Mission to Seafarers. There are 3212023.. 27) members of staff in this scheme al 31 December 2024. Employer contributions to this scheme in 2024 were £82,700 (2023.. £76.500) with £6 due to be paid at the year end (2023.. £8,837). 16. FIXED ASSETS 16.1 Intangible flxed assets Group and Company £'ooo 150 16 166 Cost 1 January 2024 Additions 31 December 2024 Depreclatlon 1 January 2024 Provided during the year 31 December 2024 21 46 67 Net book value 31 December 2024 99 31 December 2023 729 16.2 Tangible fixed assets Motor Vehicles £'ooo Fixtures & Equipment £'ooo Property £'ooo Total £'ooo Group Cost 1 January 2024 Additions Disposals Impairmenl adjustment 31 December 2024 5,230 290 99 {71) 894 12 6,414 111 {71) 18 6,472 18 5,248 318 906 Depreclation 1 January 2024 Provided during the year Disposals Exchange difference 31 December 2024 1.099 23 189 51 171) 728 35 2,016 109 (71) 1,122 170 763 2,055 Nel book value 31 December 2024 4,126 148 143 4,417 31 December 2023 4,131 lot 166 4,398 One of the property values was found to be impaired (2023.. none). 46

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 16.2 Tangible fixed assets The Company Motor Vehicles £'ooo Fixtures & Equipment £'ooo Property £'ooo Tolal £'ooo Cost 1 January 2024 Additions Disposals Impairmenl adjuslmenl 5,230 290 99 (71) 891 12 6,411 111 {71) 18 18 31 December 2024 5,248 318 903 6,469 Depreciatlon 1 January 2024 Provided during the year Disposals Exchange difference 1,099 23 189 51 (71) 725 35 2,013 109 {71) 31 December 2024 1,122 170 760 2,052 Nel book value 31 December 2024 4,126 148 143 4,417 31 Decemb8r 2023 4, 131 101 766 4.398 Property The properties held are split be￿een categories as follows.. Freehold Long lerm leasehold 2024 £'ooo 2023 £000 2,905 1,221 2,870 1,261 Total 4,126 4,137 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 r8nt8d out if temporarily surplus to current operational requirements. 17. INVESTMENTS 17.1 Listed Investments 2024 2023 Group and Company £'ooo 27,845 Group £'ooo 26,541 Company £'ooo 26,441 Market value 1 January Additions Disposals (1,153) (1. 110) 2,414 (1,010) 2,414 Unrealised gainl<loss) for the year Market valua 31 December 27,303 27,845 27,845 Historical Cost at 31 December 20,111 20,938 20,938 47

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Gains and losses The net gainsl{losses) on investments shown in the Consolidated Statement of Financial Activities is a net gain of £658.000 (2023.. gain £2,411,0001- This includes the 2024 unrealised gain £611,000 shown above (2023- unrealised gain £2.414,000) for the shares held at the year end plus the net realised gain on shares sold during the year at £47,000 (2023.. loss £3,000). Fees The CCLA'S annual management charge in relation to Ihe CBF Church of England Investment Fund (Investment Fund) is 0.55 % (2023-. 0.55 % ) of the value of the portfolio although Ihis was not directly charged lo the Mission but against the capital of the Inveslmenl Fund. The total ongoing charges figure which includes the annual management charge and other operational costs is 0.820A (2023: 0,83 /01 Analysls of Investments 2024 Group and Company £'ooo 27,303 2023 Company £'ooo 27,845 Group £'ooo 27.845 Holdings in multi asset funds Total 27,303 27,845 27,845 As part of a multl asset Inveslment Fund, significant indlvidual holdings cannot be identified. however the significant class of holdings (over 50/0} at 31 December were.. 2024 2023 63% 7.50/0 Overseas Equities UK Equities Infrastructure and Operatlng ass81s Fixed interest 17.2 Investmenls in subsidiaries The Company controls the following principal aclive subsidiaries, the results of which have been consolidated. Name ofcornpary and county of incorporntion No of shares and walue Net NetAssets Income 2024 £000 Holdingl Control Nabjre of Buslr 31112r24 12 shares held by., the Mission 8. Mission dire¢lors 2, other directors 2 £12 The Dunkirk War Memorial Trust Ltd, UK Provision of spiritual and pra¢lical welfare for all seafarers 83.3 Flying Angel Marketing Enterprises Ltd, UK The Flying Angel Belfast Ltd, UK 100 6 shares £6 Sales of promotional goods 1 share £1 100 Salès of calering services and promotional goods Provision of spirilual and practical welfare for all seafarers Holds propety as Custodian trustee on behalf of th8 Mission The Mission to Seafarers Scotland Ltd. UK The Mission to Seafarers Trust Corporation Ltd, UK Company limited by guarantee, sole member 100 160 100 11 shares £11 48

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 18. DEBTORS 2024 Group £'ooo 2023 Group £'ooo 2024 Company £'ooo 2023 Company £'ooo Amounts owed by grouplassociated undertakings., Flying Angel Marketing Enterprises Ltd The Flying Angel Belfast Ltd The Dunkirk War Memorial Trust Lld Trade debtors Prepayments and accrued incoTne Other debtors 24 30 724 129 639 63 148 1,196 127 131 640 63 146 1,169 125 Total 1.471 834 1.467 987 The prepayment and accrued income includes accrued legacies £675,000 (2023: £137,000). A proportion of legacies receivable may be received after more than 1 year, but this figure cannot be determlned with any accuracy due to the inherent uncertainty in the timing of legacy income receipl. Amounts due from FAB include a £10.000 (2023.. £10,000) concessionary loan made to FA8 which is secured and c8rries a market rate of interest and is repayable on demand. Amounts due from DWMT in 2023 included the £16,000 balance on a concessionary loan to undertake essential repairs to the centre in Dunkirk. This was repaid in 2024. 19. CURRENT LIABILITIES 2024 Group £'ooo 144 50 604 2023 Group £'ooo 122 51 292 2024 Company £'ooo 151 50 604 2023 Company £'ooo 122 51 294 Trade creditors Social security and tax Accruals and other creditors Total 798 465 805 467 20. RESTRICTED FUNDS Restricted funds 2024 Openlng Balance £'ooo Closing Transfer Balance £'ooo £'ooo Income Expenditure £'ooo £'ooo 25 {24) Acu, Brazil vehicle running costs and Cha lainc lo American Shi in 8elfast branch building reseNe fund Pte Ltd 359 {8) 351 Belfast cruise hub portacabin,. Merchant Navy Welfare Board Dubai, UAE Ship visitor and welfare work., ITF Seafarers, Trust Felixstowe chaplaincy and welfare., Harwich Haven Authority and QVSR (4) 43 (43) 14 18 (32) Houston, USA port support,. Cargill International SA Philippines family projects country manager., The Sailors Home Hon Kon Philippines Welfare Support., Mitsui OSK Lines Piraeus vehicle and running costs., Stelios Foundation (8) 22 (22) 41 41 32 32 49

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Restricted funds 2024 continued Opening Balance £'ooo 50 Closing Transfer Balance £'ooo Income Expenditure £'ooo £'ooo 50 {50) Port core costs and advocacy UK,. Seafarers. Charit Port Development support. Seafarers, Charity 50 35 (35) Port Talbot building costs,. Merchant Navy Welfare Board- Garfield Weston The Austin Bailey Foundation, Maurice & Hilda Lain Charitable Trust Regional Directors (Europe) and Africa support,. David Pellatt (7} 50 {50) Rotterdam Cenlre. Tritax 26 (26) SafeTALK training,. EBM Ch8rilable Trust and Seafar&rs' Charil Seafarers App,. Cargill Internatlonal SA £30k: Seafarers, Charity £30k: DNV £26k 54 (36) 18 70 {37) 33 Ship visitor app: Seafarers, Charity 30 (301 Ship visitor, Tilbury,. David Pellatl, Medway to Mariners, Sir Edward Lewis Foundation, BP Marine, Pemberton-Barnes Trust 66 {26) 49 Superyachts Welfare hub,. Seafarers, Charity 60 (30) 30 Tauranga cenlre, New Zealand Covid-19 support. TK Foundalion 15 15 SIM cards for seafarers; Vodaphone UK 27 127) Tuticorin, India support. MSC 25 {8) 17 USA str8tegic developmenl,. TK Foundation 101 (70) 38 Vehicles for Ports in Bangkok, Ourban and Tahlti,. ITF Seafarers, Trust 32 91 (123) Vehicles for use in UK Ports. Merchant Navy Welfare Board 65 32 {19) 78 Vehicle running costs Colombo, Singapore and Nigeria- Baltic Exchange Charitable Foundation Others 15 {15) 13 87 {801 20 Total 641 942 (739) {71) 773 50

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Restricted funds 2023 Opening 8alance £'ooo Closing Transfer Balance £'ooo £000 Income £'ooo 40 Expenditure £'ooo (40) AGU, Brazil vehicles and chaplaincy,. Anglo American Shipping Ple Ltd Africa ports (Lagos, Mombasa, Richards Bay, Saldanha Bay & Port Elizabeth) welfare support, Seafarers, Charity 22 (22) Belfast branch building reSe￿e fund 368 359 Christmas welfare for seafarers,. ICMA (3) Core funding for UK ports in the North East, Scotland, Southampton, the South West & Wales,. Merchant Nary Welfare Board 75 (75) Dubai, UAE Ship visitor and welfare work,. ITF Seafatsrs, Trust 43 (43) Falmouth centre impmvements,. Merchant Navy Welfare Fund Felixstowe chaplaincy and wellare,. Harnich Haven Authority 14 14 Innovations fund,. AET Tankers Justice & Welfare support, Samaritan Fund & Advocacy for the Middle East & South Asia region,. Seafarers, Charity 14 (14) Lagos centre repairs, Nigeria,. ITF Seafarers, Trust 26 (26) North Tees centre hot water system,. Merchant Navy Welfare Fund (5) Philippines farnily projects country manager,. The Sailors Home Hong Kong 23 (23) Philippines f8mily projects,. Pacific Basin Shipping 44 (44) Philippines family projects and Wecare sources.. UK P&1 Club 21 (21) Port costs and advocacy UK,. Seafarers, Charit Port Development support.. Seafarers, Charity 100 50 (100) 50 30 (30) Port Talbot building costs,. Merchant Navy Welfare Board,. Garfield Weston The Austin Bailey Foundation, Maurice & Hilda Lain Charitable Trust 15 (8) 51

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Restricted funds 2023 continued Opening Balance £'ooo Closing Balance £'ooo Income £'ooo Expenditure £'ooo Transfer £'ooo Proj8Ct for Cornw811,'18g8cy from Ihe estate of the lale Miss Townson Harrison Regional Directors (Europe) and Africa support,. David Pellatt 50 Rotterdam Cenlre,. Trltax Rotlerdam chaplaincy,. individual donors 11 (11) Seafarers App." C8rgill International SA £30k,' Seafarers, Chanty £30k,. DNV£26k 86 (16) 70 Seattle and Sydney support.. Hamburg Sud Ship visitor, Richards Bay,. Ship visitor, Tilbury,. David Pellati {8) (16) 25 South Shields IT equipment,. Merchanl N8Vy Welfare Board (2) Suicide prevention tr8lnlng,' Merchant Navy Welfare 808rd 46 (46) Taur8nga centre. New Zealand Covid-19 support,. TK Foundalion 15 15 USA strategic development,. TK Foundation 102 (95) Vehicles for ports Antwerp, Kob8, Mombasa, Nelson and B8ngkok,' ITF Seafarers, Trust 179 {147J 32 Vehicles for use In UK Ports,. Merchan( Navy Welfare Board 45 32 (12) 65 Vehicle running costs Colombo, Singapore and South Tees,. Battic Exchange Charitable Found8tion Vehicle running costs Saldanha Bay, Soulh Africa,. Anglo Amencan M8rkeling Ltd 30 15 (45) (7) Others 22 (22) Total 833 771 (918) (45) 641 Reslrlcted funds (note 1.4) represent capital grants or donations received for specific purposes. For capital grants or donations the transfer to unreslricled funds represents the depreciation charge on fixed assets. 52

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 21. UNRESTRICTED FUNDS Unrestricted funds 2024 Opening Balance £'ooo 4,026 8,436 Transferl Disposals £'ooo Closing Balance £'ooo 4,054 2,171 4,140 114 Income Expenditure £'ooo £'ooo 95 (67) (1,327) Designated funds Fixed assets Branches and subsidiaries Grants programme African Region Fund Strategy plan 2022-2026 Commitments from Adventure Race JapanlEPS Global Health & Safety & Training Fund Commitments to Retired Chaplains 1,029 (5,967) 4,140 144 (30) (2771 {30) 2,097 290 1,820 260 425 (501 375 1,000 1,000 Total designated funds 16,418 1,124 11,7811 (1,827) 13,934 General Funds 24,971 4,355 14,1141 1,898 27,110 Total unrestrlcted funds 41,389 5,479 {5,8951 71 41,044 Unrestricted funds 2023 Opening Balance £'ooo 4,050 7, 778 174 Transfer/ Disposals £'ooo Closing Balance £'ooo 4,026 8,436 144 Income £'ooo 54 Expenditure £'ooo (78) (801) (30) (201) (5) Deslgnated funds Fixed assets Branches and subsidiaries African Region Fund Strategy plan 2022-2026 Commitments from Adventure Race Japan/EPS Global Health & Safety & Training Fund Commitments to Retired Chaplains 1,459 2,298 2,097 290 295 471 (46) 425 1,000 1,000 Total designated funds 15,771 1,808 (1, 161) 16,418 General Funds 23,086 5, 622 (3, 782) 45 24,977 Total unrestricted funds 38,857 7,430 (4, 943) 45 41,389 The Fixed Asset reseNes represenl the cost value, nel of deprecialion. 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 Ihe relevant geographical locations. Any chaplain employed prior to 1983 with a minimum seNice 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 on- going commitment to retired chaplains, property costs including maintenance and council tax. 53

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDEO 31 DECEMBER 2024 22. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Unrestricted General £'ooo Unrestricted Designated £'ooo 66 3,988 8,559 1,321 Restricted Total £'ooo 33 429 £'ooo 99 4,417 27,303 9,998 Intangible fixed assets Tangible fixed assets Investments Net current assets Long term liability Total 18,744 8,366 311 27,110 13,934 773 41,817 2023 Intangible fixed assets Tangible fixed assets Investments Net current assets Long term liability Total 59 3,967 6,553 5,839 70 431 129 4,398 27,845 9, 658 21,292 3,679 140 24,971 16,418 641 42, 030 23. FINANCIAL COMMITMENTS At 31 December 2024 the Group and Company had commitments of £283,000 {2023,. £315,000) under non- cancellable operating leases as set out below.. Land and Buildings 2024 £'ooo Land and Buildings 2023 £'ooo Other leases 2024 £'ooo Other l&a$8S 2023 £'ooo Lease payments; Due not later than one year Due be*￿een one year and five years Due after five years 34 140 33 137 103 138 Total 277 308 24. RECONCILIATION OF NET (EXPENDITURE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 £'ooo 2023 £'ooo Net (expenditure)lincome for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges {Gains)Iloss on investments Dividends and interest Profit on sale of fixed assets (Increase)IDecrease in stocks (Increase)IDecrease in debtors Increasel(Decrease) in creditors (202) 2,364 156 (658) (1,113) (241 123 (2,411) {1, 060) (5) (3) 74 {616J {637) 333 Net cash (used in)Iprovided by operating activities (2,145) (1,534) 54

THE MISSION TO SEAFARERS TRUSTEES, ANNUAL REPORT AND ACCOUNTS 2024 NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 25. ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 As restated £'ooo 51 9,217 £'ooo 83 9,221 Cash in hand Notice deposits (less than 3 months) Total cash and cash equivalents 9,304 9, 268 26. ANALYSIS OF CHANGES IN NET DEBT At31 December 2024 £'ooo At l January 2024 £'ooo Other non-cash changes £'ooo Cashflows £'ooo Cash at bank and in hand 9.268 36 9,304 Total 9,268 36 9,304 27. SUMMARY SOFA FOR THE MISSION TO SEAFARERS COMPANY NO. 622024 2024 £'ooo 5,722 658 {6,587) 2023 £'ooo 5, 749 2,404 (5,811) Income Gainl{loss) on investments Expenditure Net incomel{expenditure) {207) 2,342 (Lossllgain on foreign exchange Total funds brought fO￿ard {11) 41,869 (23) 39,550 Total funds carried foThvard 41,651 41,869 28. POST BALANCE SHEET EVENT There were no post balance sheet events. 55