**Charity registration number 1125539 (England and Wales) Company registration number 06526106** **LIVERPOOL SEAFARERS CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **LIVERPOOL SEAFARERS CENTRE** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr G Rafferty Mr L Aye-Maung Father M P Caddell Rt Rev B A Mason (Appointed 31 May 2022) Bishop T J Neylon (Appointed 27 March 2023) **Secretary** Mr J Wilson **Charity number (England and Wales)** 1125539 **Company number** 06526106 **Registered office** 20 Crosby Road South Waterloo Liverpool Merseyside L22 1RQ **Independent examiner** Helen Furlong FCCA Xeinadin North West Limited 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR **Bankers** Lloyds Bank PLC Victoria Branch 98 Victoria Street London SW1E 5DG **Investment advisors** City Asset Management PLC 15 Bishopsgate London Greater London EC2N 3AR ## **LIVERPOOL SEAFARERS CENTRE** ## **CONTENTS** ||**Page**| |---|---| |Chief Executives Report|1 - 2| |Trustees' report|3 - 7| |Independent examiner's report|8| |Statement of financial activities|9| |Balance sheet|10| |Statement of cash flows|11| |Notes to the financial statements|12 - 23| ## **LIVERPOOL SEAFARERS CENTRE** ## **CHIEF EXECUTIVES REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2023** The year started very much as March 2022 ended, with the Centre closed however ship visiting continued on a daily basis which included acting as an honest broker with regard to shopping trips to local supermarkets and wholesalers with online gaining momentum. Local supermarkets were generous in their surplus food donations, ambient, chilled and frozen, all proving to be a welcome relief to crew on board. With shore leave at a premium, being in the main restricted to all except for those who had reached the end of their individual contract travelling home, which was at times a challenge, with international flights being at a premium. Within the UK restriction began to be relaxed a new norm materialised with retail outlets reopening for normal trading hours with many stock items being replenished. With the Centre reopening in October 2022 the recruitment drive in January 2020 having been placed on hold due to UK Government restrictions, those who had been successful at interview stage were invited to join the team, of which eleven were offered positions. With the appointment of a Deputy Manager, a new lease of life was given to Liverpool Seafarers Centre, with open hours extended to 0800hrs – 2230hrs across the seven-day week. Daily ship visiting remained the core of the business model. As the weeks passed, with shore leave relaxed in the majority of cases, Seafarers were again visiting the centre. This model has continued through to today with numbers of both active and veteran Seafarers visiting on an upward projectile. The importance of Ship Visiting is evidenced through the conversations with Seafarers whether it be on board vessel, whilst travelling in the minibus or within the centre, who cite loneliness, isolation, fatigue, monotony as common issues upon which they are challenged daily. A friendly listening ear can often relieve the burden of mental pressure. Allowing a Seafarer to smile following a remark or conversation, can momentarily relieve this burden. Much research has and continues to uphold the mental wellbeing of Seafarers resulting in online support and printed material being available. However this will not replace the human contact, much of which was lost in recent years due to Covid-19. None of our Mission in Ministry will be possible without the dedication from the staff members of Liverpool Seafarers Centre together with our small band of Volunteers, who maintain and uphold the Christian Ethos. The Volunteer base, due to Covid-19, witnessed a reduction in number of Volunteers. The Trustees acknowledge the many who have and continue to support our activity and endeavours through the continuous supply of woolly hats, warm clothing, books and periodicals of interest, CD’s and DVD’s, confectionary, cakes, children’s clothing, toys and jigsaws, all of which are given to Seafarers, with the message that they have been given to us to pass on with Love. Furthermore, new donors have come forward following the appeals through radio, press and social media and added to the gifts, all of which have been well received by crew during what has been unprecedented times. The Trustees wish to place on record their grateful thanks to all individuals and groups, to include many parishes within the locality who most generously support our work with these donations. For the retired Seafarer, who through age, personal reason or illness is no longer employed, a means through which communication is maintained with the numerous maritime associations of past shipping companies is offered by Liverpool Seafarers Centre. This may necessitate a home visit, which identifies a need, relieve loneliness or isolation or simply a befriending service. As a need is identified, practical assistance is offered and when necessary financial support through a discretionary grant, the replacement of household goods or a contribution towards funeral expenses can be made. The year has been a most testing time but one which we can look back on with some pride and with the enormous gratitude to the newly appointed staff team together with my Deputy Manager together with the army of supporters who continuously supplied so many items which were distributed to the deserving Seafarers without whom this country, an island nation, would have potentially starved. However, they heroically maintained the supply chains in the most demanding situations, ensuring that vital supplies are retained. We am encouraged through skill, dedication and often personal sacrifice Liverpool Seafarers Centre has, without doubt, fully responded and been key in honouring and the transformation the lives of those for whom we are called to serve. - 1 - ## **LIVERPOOL SEAFARERS CENTRE** **CHIEF EXECUTIVES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** .............................. Mr J Wilson **Chief Executive Officer** Date: ......................... - 2 - ## **LIVERPOOL SEAFARERS CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023** The trustees present their annual report and financial statements for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". ## **Objectives and activities** The object of Liverpool Seafarers Centre as stated within the Articles of Association and for which the Charity is established for the public benefit is “to promote the spiritual, moral and physical welfare of persons who are or have been seafarers and their families”. The centre pursues this object through the provision of facilities at the Centre in Waterloo and the Drop-in” Eastham Hub, through the establishment of a Chaplaincy team, Volunteers and staff, lead by the Chief Executive. Whilst the direction and policies of the Centre are determined by the Trustees, who act in an honorary capacity and meet to monitor the affairs of the Centre, the Chief Executive has responsibility for the day to day running of the Centre. ## **Public Benefit** In view of the above it is the trustees’ opinion that the charity continues to clearly pass the public benefit test. The trustees confirm that they have referenced the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives. Liverpool Seafarers Centre’s Trustees confirm they have compiled with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity. ## **General Data Protection Regulation (GDPR)** Legislation introduced in May 2018 ensured compliance with our data, all of which is maintained to a minimum. Liverpool Seafarers Centre is registered with ICO. ## **Volunteers** In the early part of the year, due to Covid-19 lockdown and restriction, the centre closed, the Volunteer Team was stood down both for their individual protection and that of Seafarers. In October 2022 the centre reopened, it was most pleasing to witness the return of some of our Volunteers. This has been strengthened with the recruitment of some new faces all of whom add value to our Mission and outreach. ## **Strategic Report** The description under the headings “Achievements and Performance” and “Financial Review” meets company law requirements for the trustees to present a strategic report. - 3 - ## **LIVERPOOL SEAFARERS CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **Achievements and performance** The Trustees’ primary objective is to deliver a first class service to all Seafarers as part of their Christian outreach, whilst at the same time, ensuring a sustainable financial position both now and for years to come. It is through the ecumenical partnership between the Apostleship of the Sea (Liverpool) and The Mersey Mission to Seafarers that this service delivery is achieved. Liverpool Seafarers Centre, a registered charity and company limited by guarantee, created by this partnership, is the vehicle through which both partners execute their committed objective. Liverpool Seafarers Centre is the lifeline to all Seafarers, to include fishers, for whom the service is aimed, and who benefit from its delivery. The Trustees’ focus their attention on a geographical area to include The Port of Liverpool, Garston Docks, Birkenhead Docks, Tranmere Oil Terminal, Bromborough Dock, and the various berths within the Manchester Ship Canal. Our strength has been the outreach to all Seafarers, for whom shore leave has not always been possible, due to Covid-19, fast turnarounds and or operations on board, through a planned programme of ship visiting. A visit from our Ship Welfare Visitor, is momentarily a relief from the monotony of work, loneliness, isolation and fatigue, all compounding upon the individual’s mental wellbeing. Mixed nationality’s on board also leads to difficulties for the individual which can result in abuse and or bullying, often not talked about for fear of recrimination. The personal contact with a Ship Welfare Visitor on board, in the centre or whilst travelling in the minibus remain well received. Travelling in the bus is a wonderful opportunity for an in-depth conversation either with a group or on an individual basis. Liverpool Seafarers Centre’s vision is to uphold Seafarers and their family’s always ensuring support and empowerment, through raising the profile by whatever means is available. The Mission is to meet the welfare and wellbeing need of all Seafarers, to include mental health, their family and community in which they live, at home and or at sea. A year that changed the world forever and for the foreseeable future, has given opportunity for Liverpool Seafarers Centre to evaluate and develop its core service by 1. Ensure the welfare and spiritual need of all Seafarers is met through a programme of ship visiting. 2. Uphold the wellness and mental health awareness of Seafarers 3. Raise awareness of Seafarers, their value as individuals to the economy and the sacrifices they make, among the industry, the public at large Be an active organisation within the maritime community and through positive communication highlight the 4. big issues facing today’s Seafarers 5. Work collaboratively with kindred organisations 6. Inclusive, diverse, inspiring and supportive employer for the staff team, highlighting safety first, ensuring staff are sufficiently resourced and trained within their respective role As a member of the International Christian Maritime Association ( ICMA ), Liverpool Seafarers Centre has signed its code of conduct stating it will:- - a) Show an unconditional love to the seafarer as a human being, created in the image of God, and a sincere respect for her/his personal values and beliefs; - b) Serve seafarers and their dependents of all nationalities, religions, cultures, language, sex or race; c) Fight prejudice, intolerance and injustice of any kind; - d) Respect the diversity of ICMA Members and Churches and to 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, which work for the welfare of seafarers. As with all our service provision, with the foundation firmly rooted within Christian principles, we all uphold the ethos by which we offer our services unconditionally. At the core of everything we do is unconditional love surrounding the Mission and Ministry to all from across the world, regardless of belief, nationality or rank. This statement has been tested to the core following the invasion of Ukraine by Russia, with emotions running high, often with the outpouring of grief, impartially we have supported both nationalities, who are often part of the crew compliment on the same ship. As mentioned on a recent visit to a vessel, “we are small in number but one family together”, was the uninitiated comment received from a Russian Seafarer. ## **LIVERPOOL SEAFARERS CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **Financial review** Incoming resources from charitable activities for the year amounted to £507,678 (2022 £595,665) and expenditure amounted to £487,520 (2022 £451,627) with net losses on investments of £36,030 (2022 £4,657 gain) leaving a deficit of £15,872 (2022 £148,695 surplus) to be added to the reserves brought forward of £705,337. At 31 March 2023 unrestricted reserves stood at £689,465 of which £225,147 (2022 £259,424) is held under investment and cash reserves stood at £78,312 (2022 £326,945). The charity's free reserves amounted to £687,248 (2022 £701,613). ## **Reserves policy** Liverpool Seafarers Centre is supported, where necessary, by the Apostleship of the Sea (Liverpool) charity no 224664 and The Mersey Mission to Seafarers charity no 220793, to underwrite the operating cost. The Trustees of The Mersey Mission to Seafarers acknowledge that following application to the Trustees of the Apostleship of the Sea (Liverpool) the agreement was amended from a 50 / 50 split to a 60 / 40 split. This remains in place today however is under review to ensure the continuance of Liverpool Seafarers Centre into future years. ## **Going Concern** Liverpool Seafarers Centre is dependent on the financial support of both the Apostleship of the Sea (Liverpool), Charity No 224664 and The Mersey Mission to Seafarers, Charity No 220793. Both organisations have indicated their willingness to continue this support for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial statements. For this period, the Trustees have adopted an examination as opposed to an audit. The Trustees will review this decision for future years. The Port Levy continues to operate, albeit with a much-reduced income. If all owners / charterers were to participate, this will give a continuous income stream negating the liability to both the Apostleship of the Sea (Liverpool) and The Mersey Mission to Seafarers. Under the auspices of MLC 2006, ship owners and charterers have a responsibility to support and contribute towards Seafarers Welfare. As a welfare provider, Liverpool Seafarers Centre submits a request for payment on departure, based upon the gross tonnage of the vessel, to the appointed Agent, who in turn collects the Levy and reimburse Liverpool Seafarers Centre. Discussions are on-going with Peel Ports to manage the Port Levy on behalf of Liverpool Seafarers Centre, who has a system in place to raise invoices, the Port Levy will appear as an additional charge, which will be collected and reimbursed to Liverpool Seafarers Centre. Funds received will be project specific, affording the vessel operators a tangible outcome. The Eastham drop-in centre continues to be a well-used resource. Offering a homely comfortable venue in which all can relax to enjoy the peace and lack of regulation away from the vessel. As Trustees, we must acknowledge the support received from St Mary’s Paris Church and Churches together in Bromborough. The Trustees have assessed the major risks to which the charity is exposed and are satisfied that the systems adopted are suitable to mitigate exposure to major risk. ## Investment policy ## **Investment policy** In 2019 the Trustees invested a sum of £250,000 being accrued income over recent years. This investment is managed by City Asset Management Limited, itself regulated by the Stock Exchange and Financial Conduct Authority. Updates are received on a quarterly basis. The Investment Manager will meet with the Trustees to discuss the portfolio performance together with a forecast of future trends. In the implementation of the investment policy, the Trustees follow the Charity Commission guidance for investment of charitable funds. Income by way of dividend is reinvested within the portfolio. The Trustees have agreed on a policy of medium risk, over the period of the investment being a minimum of 5 years, however the level of risk level is under constant review. ## **Major risks** The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **LIVERPOOL SEAFARERS CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **Plans for future periods** The past three years has been a most difficult time for everyone with our daily lives and routines having changed due to Covid-19 imposed restrictions, of which some have become the new norm. As we adapt to these changes, life must continue to ensure that the world’s supply lines remain intact. Seafaring and ultimately the Seafarer is key in this and we, Liverpool Seafarers Centre will continue with our endeavours to ensure the delivery a first class service to all, irrespective of rank or belief. Seafarers too have had to accommodate new regulation, some of which have impacted heavily. Improvements in accessing medical care for both minor injury and repeat prescriptions remains a priority, local A&E departments now offer a new service for same day minor injuries, which has proven to be a bonus for Seafarers where time ashore is at a premium due to faster turnarounds. The mental wellbeing of Seafarers is now being recognised, due primarily to the WHO, IMO and ILO who have identified the problem exists. Shipping companies are supportive of the initiatives being driven by welfare providers. Liverpool Seafarers Centre through its staff members and the assistance of a Clinical Psychologist, through training to identify a need, will support and signpost any individual or group of Seafarers to an appropriate resource. Should this not be possible due to lack of time or operations on board, information will be passed to colleagues in subsequent ports. Liverpool Seafarers Centre through its membership of ICMA is well placed in this regard. In March 2020, Liverpool Seafarers Centre was selected to receive surplus food from a local supermarket – this proved so successful that through Foodshare, short dated food items to include, bread, dairy products, fruit and vegetables together with bakery items and biscuits are donated by 5 individual supermarkets. This continues to be well received by crew on board, often to the disappointment of some when the supply is minimal. Liverpool Seafarers Centre has maintained its status, whilst not necessarily through any awards, the verbal and written comments continue to be well received, mentioning Liverpool Seafarers Centre a beacon of excellence. With the staff team supported by dedicated Volunteers Liverpool Seafarers Centre has met its objective. Not being complacent, there is always more to do, it is now appropriate to revisit plans placed on hold during and the immediate following Covid-19. It remains the intention to create a Seafarers Welfare Drop-In Hub within the Port of Garston and to extend the facility at QE11 Dock, Eastham. The facility at Eastham is housed within a building which was shared until. An opportunity exists to take over the whole building affording an enhanced facility and outreach to all vessels berthing within the Manchester Ship Canal. Liverpool Seafarers Centre has undergone some minor remodelling – now is the time for a major internal refurbishment. This together with replacement vehicles will be the driver for a major fundraising campaign in the region of £300K. To address the vision, it will necessitate the recruitment of additional staff members and at the same time attract additional Volunteers. Furthermore, within this model the priorities of the Chief Executive will change to be more management focused with the day-to-day management falling to the Deputy Manager prioritising on the front-line operation. With this model in place this will ensure that all statutory and legislative requirements of the Charity are met in a timely manner which at the same time ensure that the commitment of the Charitable Objective is met in full. Liverpool Seafarers Centre will rise to the challenge to meet the presented need and support all Seafarers visiting the various Mersey Ports. This, together with an outreach to veteran Seafarers and their family, will ensure that Liverpool Seafarers Centre retains its standing and recognition in its service provision. ## **Structure, governance and management** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity applies the Charity Commission Governance Code. ## **LIVERPOOL SEAFARERS CENTRE** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr G Rafferty Mr L Aye-Maung Mrs P Brown (Resigned 19 July 2023) Father M P Caddell Rt Rev B A Mason (Appointed 31 May 2022) Rev M O'Dowd STL (Resigned 27 March 2023) Bishop T J Neylon (Appointed 27 March 2023) ## **Recruitment and appointment of trustees** Trustees are drawn from the Merseyside Area and most are already familiar with the practical work of the centre when appointed. Any new trustee will be encouraged to attend short training sessions to familiarise themselves with the charity and the context in which it operates. . ## **Management** Day to day operational management is under the control of the Chief Executive. The Chief Executive ensures that the Board is kept up to date with any changes in legislation, rules and regulations which may affect the Charity. ## **Key management remuneration** Under the terms of FRS 102 SORP, the Chief Executive, to whom the day to day management of the charity is delegated by the Trustees, will fall within this category. In addition to salary and pension contributions, which are reviewed annually by the Trustees in December, the Chief Executive has the use of a motor vehicle, primarily to conduct the business of the charity, together with a mobile telephone. A fully expensed accident policy is in place. The trustees' report was approved by the Board of Trustees. Mr J Wilson Mr G Rafferty **Company secretary Trustee** 31 March 2025 - 7 - ## **LIVERPOOL SEAFARERS CENTRE** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF LIVERPOOL SEAFARERS CENTRE** I report to the trustees on my examination of the financial statements of Liverpool Seafarers Centre (the charity) for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. 2 the financial statements do not accord with those records; or 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Helen Furlong FCCA Xeinadin North West Limited** 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR 31 March 2025 - 8 - ## **LIVERPOOL SEAFARERS CENTRE** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## **FOR THE YEAR ENDED 31 MARCH 2023** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| ||**Notes**|**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|**3**|265,435|310,982| |Charitable activities|**4**|236,488|279,213| |Investments|**5**|5,576|5,397| |Other income|**6**|179|73| |**Total income**||507,678|595,665| |**Expenditure on:**|||| |Raising funds|**7**|5,655|14,384| |Charitable activities|**8**|481,865|437,243| |**Total expenditure**||487,520|451,627| |Net gains/(losses) on investments|**13**|(36,030)|4,657| |**Net income/(expenditure) and movement in funds**||(15,872)|148,695| |**Reconciliation of funds:**|||| |Fund balances at 1 April 2022||705,337|556,642| |**Fund balances at 31 March 2023**||689,465|705,337| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 9 - ## **LIVERPOOL SEAFARERS CENTRE** ## **BALANCE SHEET** ## **AS AT 31 MARCH 2023** |||**2023**||**2022**|| |---|---|---|---|---|---| ||**Notes**|**£**|**£**|**£**|**£**| |**Fixed assets**|||||| |Tangible assets|**15**||2,217||3,724| |Investments|**16**||225,147||259,424| ||||227,364||263,148| |**Current assets**|||||| |Stocks|**18**|4,822||3,759|| |Debtors|**19**|384,221||118,788|| |Investments|**20**|6,188||5,903|| |Cash at bank and in hand||78,312||326,945|| |||473,543||455,395|| |**Creditors: amounts falling due within**|**21**||||| |**one year**||(11,442)||(13,206)|| |**Net current assets**|||462,101||442,189| |**Total assets less current liabilities**|||689,465||705,337| |**The funds of the charity**|||||| |Unrestricted funds|||689,465||705,337| ||||689,465||705,337| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 31 March 2025 Mr G Rafferty **Trustee** Company registration number 06526106 (England and Wales) - 10 - ## **LIVERPOOL SEAFARERS CENTRE** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023** |||**2023**||**2022**|| |---|---|---|---|---|---| ||**Notes**|**£**|**£**|**£**|**£**| |**Cash flows from operating activities**|||||| |Cash (absorbed by)/generated from|**25**||||| |operations|||(252,170)||104,340| |**Investing activities**|||||| |Purchase of tangible fixed assets||-||(1,449)|| |Purchase of investments||(165,577)||(68,400)|| |Proceeds from disposal of investments||163,538||66,865|| |Investment income received||5,576||5,397|| |**Net cash generated from investing activities**|||3,537||2,413| |**Net cash generated from financing activities**|||-||-| |**Net (decrease)/increase in cash and cash**|||||| |**equivalents**|||(248,633)||106,753| |Cash and cash equivalents at beginning of year|||326,945||220,192| |**Cash and cash equivalents at end of year**|||78,312||326,945| - 11 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1 Accounting policies** ## **Charity information** Liverpool Seafarers Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is 20 Crosby Road South, Waterloo, Liverpool, Merseyside, L22 1RQ. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Income from charitable activities includes income received under contract or where entitlement to the grant funding is subject to performance conditions. Income is recognised in the Statement of Financial Activities when the related services have been provided, income received in advance of those services being provided is deferred. Income from trading activities, includes income from fundraising events and trading activities to raise funds for the charity. Income is recognised when earned and the charity is entitled to the receipt. ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Support costs are those that that assist the work of the charity but are not directly attributable to the charitable activities. Support costs include office costs, administrative payroll costs and governance costs which support the charity's activities. Where the support costs cannot be attributable to a direct activity they have been allocated to the costs of raising funds and charitable activities on a pro-rata basis. Governance costs represent costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 20% on cost Motor vehicles 20% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Assets below £750 are not capitalised. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). - 13 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **1 Accounting policies** ## **(Continued)** ## **1.9 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.10 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.11 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## **Basic financial liabilities** Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **Derecognition of financial liabilities** Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. - 14 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **1 Accounting policies** **(Continued)** ## **1.12 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.13 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Donations and gifts|262,435|303,667| |Grants|3,000|7,315| ||265,435|310,982| |**Grants**||| |Merchant Navy & Welfare Board grant|3,000|4,000| |Coronaviris Job Retention Scheme grant|-|3,315| ||3,000|7,315| - 15 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **4 Income from charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |**Provision of welfare facilities**||| |Port levy|15,339|11,235| |Room hire|4,800|5,950| |**Other trading activities**||| |Shop & bar income|43,956|37,391| |Internet & phone cards|176,413|156,493| |Profit on foreign exchange|(28,450)|42,539| |Other income|24,430|25,605| ||236,488|279,213| ## **5 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Income from listed investments|5,576|5,397| ## **6 Other income** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Bank interest|179|73| ## **7 Expenditure on raising funds** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |**Fundraising and publicity**||| |Promotional activities|2,118|10,522| |Fundraising agents|3,537|3,862| ||5,655|14,384| - 16 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **8 Expenditure on charitable activities** ||**Provision of**|**Other**|**Total**|**Provision of**|**Other**|**Total**| |---|---|---|---|---|---|---| ||**welfare**|**trading**||**welfare**|**trading**|| ||**facilities**|**activities**||**facilities**|**activities**|| ||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| ||**£**|**£**|**£**|**£**|**£**|**£**| |**Direct costs**||||||| |Staff costs|164,479|-|164,479|91,058|-|91,058| |Depreciation and||||||| |impairment|1,507|-|1,507|1,755|-|1,755| |Shop & bar purchases|4|38,626|38,630|-|33,107|33,107| |Phone cards|-|91,630|91,630|-|163,488|163,488| |Rent & rates|37,499|-|37,499|25,272|-|25,272| |Heat & light|18,490|-|18,490|7,565|-|7,565| |Insurance|6,963|-|6,963|7,386|-|7,386| |Repairs,renewals &||||||| |equipment leasing|9,141|-|9,141|9,348|-|9,348| |Cleaning|7,836|-|7,836|4,327|-|4,327| |Mini-buses, travel &||||||| |subsistence|24,050|-|24,050|18,184|-|18,184| |Printing, postage &||||||| |stationery|4,267|-|4,267|3,424|-|3,424| |Computer & telephone|8,776|-|8,776|9,517|-|9,517| |Other costs|16,410|1,296|17,706|11,434|2,681|14,115| |Chaplaincy subscriptions|9,467|-|9,467|2,706|-|2,706| |Advertising & promotion|13,460|-|13,460|18,555|-|18,555| ||322,349|131,552|453,901|210,531|199,276|409,807| |**Share of support and governance costs**||**(see note 9)**||||| |Support|13,562|-|13,562|13,461|-|13,461| |Governance|14,402|-|14,402|13,975|-|13,975| ||350,313|131,552|481,865|237,967|199,276|437,243| |**Analysis by fund**||||||| |Unrestricted funds|350,313|131,552|481,865|237,967|199,276|437,243| ## **9 Support costs allocated to activities** ||**Provision of**|**Total**| |---|---|---| ||**welfare**|| ||**facilities**|| ||**2023**|**2022**| ||**£**|**£**| |Staff costs|13,562|13,461| |Governance|14,402|13,975| - 17 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** |**9**|**Support costs allocated to activities**||**(Continued)**| |---|---|---|---| |||**2023**|**2022**| ||**Governance costs comprise:**|**£**|**£**| ||Accountancy|4,770|5,005| ||Legal and professional|6,956|5,997| ||Bank charges|478|386| ||Trustees indemnity Insurance|2,198|2,587| |||14,402|13,975| |**10**|**Net movement in funds**|**2023**|**2022**| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Fees payable for the independent examination of the charity's financial||| ||statements|4,770|5,005| ||Depreciation of owned tangible fixed assets|1,507|1,755| ## **11 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **12 Employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| |Administration|13|8| |**Employment costs**|**2023**|**2022**| ||**£**|**£**| |Wages and salaries|156,762|86,470| |Social security costs|4,751|2,340| |Other pension costs|16,528|15,709| ||178,041|104,519| - 18 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** |**12**|**Employees**||**(Continued)**| |---|---|---|---| ||The number of employees whose annual remuneration was more than £60,000||| ||is as follows:||| |||**2023**|**2022**| |||**Number**|**Number**| ||£60,000-£70,000|1|1| ||**Remuneration of key management personnel**||| ||Key management of the charity comprises of the Chief Executive. The||| ||remuneration of key management personnel was as follows:||| |||**2023**|**2022**| |||**£**|**£**| ||Aggregate compensation|67,812|67,306| |**13**|**Gains and losses on investments**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2023**|**2022**| ||Gains/(losses) arising on:|**£**|**£**| ||Revaluation of investments|(30,630)|5,469| ||Sale of investments|(5,400)|(812)| |||(36,030)|4,657| ## **14 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 19 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **15 Tangible fixed assets** ||**Fixtures and**
**Motor**
**Total**
**fittings**
**vehicles**
**£**
**£**
**£**
**Cost**
At 1 April 2022
56,599
53,065
109,664| |---|---| ||At 31 March 2023
56,599
53,065
109,664| ||**Depreciation and impairment**
At 1 April 2022
52,878
53,062
105,940
Depreciation charged in the year
1,507
-
1,507| ||At 31 March 2023
54,385
53,062
107,447| ||**Carrying amount**
At 31 March 2023
2,214
3
2,217| ||At 31 March 2022
3,721
3
3,724| ## **16 Fixed asset investments** |||**Listed**|**Cash in**|**Total**| |---|---|---|---|---| |||**investments**|**portfolio**|| |||**£**|**£**|**£**| ||**Cost or valuation**|||| ||At 1 April 2022|250,156|9,268|259,424| ||Additions|165,577|-|165,577| ||Valuation changes|(30,631)|-|(30,631)| ||Disposals|(160,125)|(9,098)|(169,223)| ||At 31 March 2023|224,977|170|225,147| ||**Carrying amount**|||| ||At 31 March 2023|224,977|170|225,147| ||At 31 March 2022|250,156|9,268|259,424| ||The historical cost of the fixed asset investments was £249,636|(2022 £252,636)||| |**17**|**Financial instruments**|||| ||||**2023**|**2022**| ||||**£**|**£**| ||**Carrying amount of financial assets**|||| ||Instruments measured at fair value through profit or loss||6,188|5,903| - 20 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **(CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** |**18**|**Stocks**||| |---|---|---|---| |||**2023**|**2022**| |||**£**|**£**| ||Finished goods and goods for resale|4,822|3,759| |**19**|**Debtors**||| |||**2023**|**2022**| ||**Amounts falling due within one year:**|**£**|**£**| ||Other debtors|249,582|53,327| ||Prepayments and accrued income|134,639|65,461| |||384,221|118,788| |**20**|**Current asset investments**||| |||**2023**|**2022**| |||**£**|**£**| ||Unlisted investments|6,188|5,903| |**21**|**Creditors: amounts falling due within one year**||| |||**2023**|**2022**| |||**£**|**£**| ||Other taxation and social security|3,320|1| ||Trade creditors|1,307|878| ||Accruals and deferred income|6,815|12,327| |||11,44|13,206| |||~~2~~|| |**22**|**Retirement benefit schemes**||| |||**2023**|**2022**| ||**Defined contribution schemes**|**£**|**£**| ||Charge to profit or loss in respect of defined contribution schemes|16,528|15,709| The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. - 21 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **23 Operating lease commitments** ## **Lessee** At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |Within one year|35,000|35,000| |Between two and five years|140,000|140,000| |In over five years|210,000|245,000| ||385,000|420,000| ## **24 Related party transactions** The Mersey Mission together with the Apostleship of the Sea (Liverpool) a registered charity No: 224664 jointly own the premises of Colonsay House and charge rent to Liverpool Seafarers Centre for the use of the premises. They have entered into an agreement to underwrite the costs of the Liverpool Seafarers Centre (Registered Charity: 1125539) from equally previously to 60% Apostleship of the Sea (Liverpool) & 40% Mersey Mission as of 01 January 2020 to date. During the period the Liverpool Seafarer Centre received financial support from the Mersey Mission amounting to £80,000 (2021 £100,000) with the Apostleship of the Sea (Liverpool) giving £120,000 (2021£150,000). Both bodies received income from Liverpool Seafarers Centre (LSC) of £17,500 each being the rent charged for the use of Colonsay House by LSC. At the 31 March 2023 £193,770 (2022 £10,895) was due from the Mersey Mission to LSC. ## **25 Cash (absorbed by)/generated from operations** ||||| |---|---|---|---| |**25**|**Cash (absorbed by)/generated from operations**|**2023**|**2022**| |||**£**|**£**| ||(Deficit)/surplus for the year|(15,872)|148,695| ||**Adjustments for:**||| ||Investment income recognised in statement of financial activities|(5,576)|(5,397)| ||Loss on disposal of investments|5,400|812| ||Fair value gains and losses on investments|30,630|(5,469)| ||Depreciation and impairment of tangible fixed assets|1,508|1,755| ||**Movements in working capital:**||| ||(Increase) in stocks|(1,063)|(1,587)| ||(Increase) in debtors|(265,433)|(38,278)| ||(Decrease)/increase in creditors|(1,764)|3,809| ||**Cash (absorbed by)/generated from operations**|(252,170)|104,340| - 22 - ## **LIVERPOOL SEAFARERS CENTRE** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **26 Analysis of changes in net funds** The charity had no material debt during the year. - 23 -