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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||
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|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: 

- operate a network of services where seafarers are valued and cared for in the ports where the need is greatest, thus improving and safeguarding their wellbeing, 

- e be in the right ports with the right resources offering support which is relevant, compassionate and lifeenhancing, and 

- e meet the needs of all seafarers and their families, irrespective of faith or cultural background. 

## Our Mission 

## Our simple mission is to care for the shipping industry’s most important asset: its people. 

Throughout a long and distinguished history, the Mission has grown to become one of the largest port-based welfare operators in the world, with a presence in almost 200 ports. We provide a service 365 days a year, - across 50 countries where 118 of these ports have a Flying Angel centre. International Headquarters (IHQ) in London directly supports over 70 front-line staff in addition to an army of volunteers who visit ships, offer hospitality, drive minibuses and engage in a range of other welfare activities. 

## Our Ethos 

Our historic and integral partnership with the Anglican Church continues to be central to our ethos. It has traditionally found particular expression in how local teams should normally be licensed, recognised or affirmed by Diocesan Bishops as appropriate. In addition, it is expressed through our commitment to the Five Marks of Mission. We seek to maintain and develop close and supportive relationships with the worldwide Anglican Communion. 

We are also deeply committed to effective ecumenical co-operation locally, regionally and internationally. We actively seek to sustain the best in such working, including through our longstanding and proactive engagement within the International Christian Maritime Association (ICMA). 

Our ethos is one which also stresses the importance of the widest possible partnership and collaboration to the benefit of seafarers and their families. 

## Our Values 

: 

Pioneering: Being open to God’s leading, we encourage innovative thinking and seek to be flexible and entrepreneurial in our ways of working. 

Inclusive. We are unconditionally committed to the support of all seafarers and their families without discrimination. ; 

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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: 

- a) Show an unconditional love to the seafarer as a human being, created in the image of God, and a sincere respect for their personal values and beliefs. 

- b) Serve seafarers and their dependants of all nationalities, religions, cultures, language, sex and race. c) Fight prejudice, intolerance and injustice of any kind. 

- d) Respect the diversity of [CMA Members and Churches and develop that which unites them. e) Respect the loyalty of those engaged in maritime ministry to their particular ecclesiastical discipline and tradition, and refrain from proselytising seafarers. ; 

- f) Co-operate with persons, organisations and institutions - Christian or non-Christian - that work for the welfare of seafarers. 

## Our Standards 

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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 

- « Centre hospitality: o Friendship/welcome o Wi-Fi facilities o Recreational opportunity 

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

   - Food and drink 

   - o Shop o Chapel and services 

- e Hospital visitation e Prison visitation « Transport services e Emergency response, including post-trauma and mental health counselling/signposting e Justice and Advocacy, supporting seafarers during times of crisis or need and advocating for those without voice 

- e = Spiritual support as appropriate: o Prayer o Counselling o Services of worship on board or in centre o Provision of access to community places of worship o Distribution of Christian literature 

- e Programmes designed to meet the wider needs of seafarers in a rapidly changing maritime world, including global projects and local port welfare initiatives. 

## Our Work 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: 

- Significant progress towards effective, relevant, sustainable and outcome-based work across our network, ensuring that we are present in the right ports with the right models of ministry. 

- Encourage alternative models of ministry, to be explored and established where appropriate. 

- o Implementation of a comprehensive governance structure (international, regional and local) supporting high quality and professional working, in line with common global purpose and standards. 

- . Meaningful progress in building a global Mission culture which shares a global ethos and vision and is responsive to a changing maritime environment, open to new thinking and supportive of appropriate entrepreneurial activity. 

- Ongoing commitment to the support of well-led, well-trained and well-governed regions as the basis for delivering high quality port ministry, working towards regionally defined goals and objectives. 

- Further development of an effective programme of wider projects (global and regional), that are professionally delivered, seafarer-focused and with demonstrably strong outcomes, having special emphasis on building effective family support networks, working in close liaison with regions as relevant and with engagement from the global Mission. 

## Ports, centres, chaplaincy and ship visitation 

## Key hubs 

- e Our strategy commits us to upgrading operations in ports where we can maximise our ability to reach out to seafarers, enabling us to operate with enhanced infrastructure and leadership, new shift patterns and multi-skilled teams. This will demand major investment and will be a process of years. A number of global ports have been identified for such enhanced working. Rotterdam is our initial target and funds were raised in 2024 with initial new appointments being made and advanced planning towards a new mobile centre, a revised structure and specialist provision for cruise ship support. Work also began in 2024 in relation to significant new investment and development in Singapore. 

## Port development 

- e Inline with strategic commitment, 2024 saw major investment in the USA, with a new post created in Houston, fresh investment in Seattle and Baltimore and further supportive links with ports in Florida and Texas. 

- e Across the world, our £750,000 investment over three years in enhanced ship visiting capacity has benefited all our nine regions with both new and current teams benefiting. 

- e During 2024 our work in port development and port access progressed. The Port Development Manager, appointed in 2023, has been proactive across Europe, Africa and the Middle East. With partners, including our new global ambassador group, work began in 2024 to tackle the emerging issue 

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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. 

- e Looking ahead, major port development work was undertaken in 2024 with benefits expected in 2024/5 — including in Greece (Piraeus), Georgia (Poti), Saudi Arabia, Indonesia and India. 

- e In one exciting development, a corporate partnership has made possible the full funding of a new operation in Acu, Brazil 

- e Work continues with ongoing modernisation of our centre provision. In one example of a creative approach we were delighted with developments in the strategically vital port of Colombo, Sri Lanka. Significant investment in modernising a historic and busy facility included the creation of a family centre where Sri Lankan seafarers calling at the port, perhaps with only two or three hours free, can meet privately with their families in an excellent space. 

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<br>Pp Family Programme Participants [2,050 [2,050<br>| Philippines FamilyNetwork fe<br>in Manila<br>Network<br>The Mission’s Programme Manager is qualified to train a suicide awareness programme called SafeTALK. In<br>2024 680 people (2023: 189 people) across 46 organisations (2023:32) were trained as Suicide Alert Helpers<br>through attending the SafeTALK (641) training programme and the ASIST (39) courses in the UK. In total, the<br>number of people trained in Suicide Prevention since the SafeTALK programme was first introduced in 2022 is<br>1,049 (2023: 369), representing 109 maritime sector organisations across the EU, Philippines and Australia.<br>That number also includes Mission volunteers, other seafarers’ welfare societies and shoreside personnel. Our<br>wellbeing resources in financial literacy and social communications have reached over 90,000 seafarers.<br>[WeCaeP20242023<br>members trained<br>courses in 2024<br>[SafeTALK<br>, _.... .,_|eidtraining<br>: a<br>**----- End of picture text -----**<br>


## 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: 

   - abalanced budget 

   - o Comprehensive and urgent progress towards financially self-sustaining regions. This process to be supported by IHQ action. 

   - Clarity, ttansparency and equity in allocating funding (ports and projects), guided by the strategy and underpinned by improved criteria, clear application procedures, quality reporting and overseen by a further developed Trustee Programme Committee. 

   - Development of a wider (beyond-UK) fundraising programme, including enhanced support for local and regional fundraising. 

   - Significant progress in partnering with shipping and maritime industry corporates as a key resource for support and funding, including the exploration of new approaches to funding. 

- e The Adventure Race Japan (ARJ) in 2023 was a highly effective way of working with industry to raise both funding and our profile across the global industry. Planning for the ARJ 2025 is well underway with many sponsors and teams are committing early during 2024. With an increase to 100 teams, we anticipate the funds raised will exceed our US$1.3m raised in 2023. 

- e Work continues in supporting long term sustainability through a drive to grow local and regional income. We are seeing strong growth in support from some areas, notably Hong Kong, while this aspiration is highly challenging in some regions and ports. The Africa region, for example, is becoming more dependent on IHQ support. 

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

- e A further strategic focus is on developing new fundraising hubs outside the UK, particularly in Singapore and in the longer term the USA, the UAE and India. The Singapore Dinner and International Awards has grown every year, with 500 participants in 2024. It provides a further strong basis for corporate partnerships, primarily benefiting the local operation but also providing a foundation for future regional income. 

- e Of note, has been significant levels of continued government funding into our New Zealand work. This has not replaced IHQ funding but has enabled the work in New Zealand to grow very substantially. With partners, we are active in encouraging other governments to consider structured funding for maritime welfare organisations as part of their responsibility under the Maritime and Labour Convention. 

- e We continue to support regional and local fundraising, not least through training, comms and media support and the direct interventions of our Director of Development. 

## 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: 

- Leadership at global, regional and local level in promoting intentional, collaborative partnerships for the delivery of care to seafarers. 

- Further progress towards working in consultation and active partnership wherever possible — with ports, maritime welfare providers, mission organisations, the maritime industry and with churches. 

- Building on current strengths, demonstrable progress in increasing global and regional church engagement. 

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: 

- Significant progress towards a more entrepreneurial culture with a range of demonstrable outcomes. 

- o: Clear advances in using new technology to enhance seafarer welfare, in seafarer-facing work, in fundraising and in training. 

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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.
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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.
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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
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THE MISSION TO SEAFARERS
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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.
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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