Trustees’ Annual Report for the period
From 01/04/2020 Period start date To 31/03/2021 Period end date
Charity name: Heritage Marine Foundation
Charity registration number: 1129735
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To advance maritime heritage for the public benefit in particular but not exclusively by: The preservation, restoration and operation of historically significant vessels and in doing so provide training and work experience in marine skills to those unable to sponsor themselves through a dedicated program as well as to offer that training to others who can achieve funding themselves. Advancing the education of the public and raising awareness of maritime heritage by maintaining and operating historic vessels, participating in public events, conducting research and offering education, information and advice. To advance environmental protection for the public benefit by promoting sustainability and environmental responsibility in particular but not exclusively by: Researching and promoting traditional methods of fishing under sail in order to educate, encourage and promote the concept of sustainable fishing. Researching and developing carriage of cargo under sail in order to educate, encourage and promote the concept of sustainable waterborne freight. Carrying out research and educating the public into the sources of pollution at Sea and promoting clean seas and responsibility for local marine environments. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or |
Para 1.17 and 1.19 |
The charities main activity is to train young persons in the Conservation, Maintenance and Operation of traditional vessels. The charity currently employs three apprentices who carry out work at our boatyard in Essex to work towards their on- |
services identified in the the-job training. We are still seeking accounts. funding to undertake a four-year restoration of a 1923 wooden fishing trawler as a training project for our apprentices. The Charity has been commissioned to construct a new build Traditional design classic yacht as a training project for our apprentices, and construction began in August 2020 and continues Statement confirming Para 1.18 The trustees confirm that HMF’s activities whether the trustees have are carried out with regard to the Charity had regard to the guidance Commission guidance on public benefit, issued by the Charity and will continue to do so. Commission on public benefit
Additional information (optional) You may choose to include further statements where relevant about:
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SORP reference
The Charity does not at present make any
Para 1.38 grants
Policy on grant making
Para 1.38
Policy on social investment
including program related
investment
Para 1.38
Contribution made by
volunteers
Other
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Achievements and Performance
SORP reference
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | In the last year the Foundations apprentices have been employed on both eh new build yacht project as well as several Film Set builds of large traditional vessel that have given them a chance to work abroad for long periods of time in different surrounds and expand their horizons. Securing the commission for the new build steel yacht was a significant achievement for the charity, and provided an excellent training opportunity for the apprentices especially during the trying times that were placed upon us by the Covid 19 Virus. The project will take several years to complete. The apprentices have worked on a variety of projects and jobs in the yard which have broadened and increased their level of skill and experience. This has benefitted the apprentices and the traditional boats that they work on. This furthers our aims to teach young people and provide more experienced people to conserve, maintain, and operate traditional vessels. We believe that conserving and promoting maritime heritage is important to contribute to Britain’s heritage as a whole. |
|---|---|---|
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | Turnover: £84.098 Expenses: £103.629 Donations: £3,626 Grants: £26,493 Profit: £10,588 |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | |
| Amount of reserves held | Para 1.22 | Zero |
| Reasons for holding zero reserves |
Para 1.22 | At present the income of the charity is based on the amount of training being undertaken and no reserves are required |
| Details of fund materially in deficit |
Para 1.24 | Nil |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | Principle source of funds are from the commissioning of a new build classic yacht as a training project and the apprentices being employed working on Film set replicas of sailing ships Smaller fundraising is carried out by the selling items of traditional boat equipment donated to the charity |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | The foundation is governed by memorandum and articles incorporated 30/03/2009 as amended by certificate of incorporation on change of name dated 29/09/2015 as amended by special resolution(s) dated 20/11/2017 |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Charitable Company |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Any trustee selected must be approved by 100% of existing trustees |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | Heritage Marine Foundation |
|---|---|
| Other name the charity uses | |
| Registered charitynumber | 1129735 |
| Charity’s principal address | 19a Downs Road Maldon Essex CM9 5HG |
|---|---|
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| James Michael Dines |
Chairman of the Trustees |
|||
| Lucy Cheryl Woodall |
Trustee | |||
| Nicholas Drew Dowden |
Trustee | |||
| Jasmine Anna Armour-Marshall |
Trustee | |||
| Christopher Mark Wood |
Trustee | 03/03/2020 | ||
| Naomi Elizabeth Dines |
Trustee | |||
– Corporate trustees names of the directors at the date the report was approved
Director name
| Director name | ||
|---|---|---|
| James Michael Dines | Director and Chairman of the Board |
|
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Type of | Name | Address |
|---|---|---|
| adviser |
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
||
|---|---|---|
| James Michael Dines Naomi Elizabeth Dines Nicholas Drew Dowden Lucy Cheryl Woodall Jasmine Anna Armour-Marshall Christopher Mark Wood |
||
Director Trustee Trustee Trustee Trustee Trustee |
||
| 15/01/2021 | ||
| 15/01/2021 |
REGISTERED COMPANY NUMBER: 07550326 REGISTERED CHARITY NUMBER: 1129735
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR
HERITAGE MARINE FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
HERITAGE MARINE FOUNDATION CONTENTS OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Statement of Financial Activities | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 to 6 |
HERITAGE MARINE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| INCOME AND ENDOWMENTS FROM Donations and legacies Grants Charitable activities Supply of services EXPENDITURE ON Charitable activities Staff Costs Other NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 2020 Unrestricted Resticted Total Total Fund Fund Funds Funds £ £ £ £ 3,626 - 3,626 1,243 26,493 - 26,493 - 84,098 - 84,098 29,156 |
|---|---|
| 114,217 - 114,217 30,399 59,835 - 59,835 26,040 43,794 43,794 4,791 |
|
| 103,629 - 103,629 30,831 10,588 - 10,588 (432) 5,822 - 5,822 6,254 |
|
| 16,410 - 16,410 5,822 |
Page 1
HERITAGE MARINE FOUNDATION BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2021
| Note CURRENT ASSETS Debtors 4 Cash at bank and in hand 6 CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL NET ASSETS FUNDS Unrestricted funds Restricted funds |
2021 2020 Unrestricted Resticted Total Total Fund Fund Funds Funds £ £ £ £ 7,495 - 7,495 4,348 12,602 - 12,602 1,833 |
|---|---|
| 20,097 - 20,097 6,181 (3,687) - (3,687) (359) |
|
| (3,687) - (3,687) (359) |
|
| 16,410 - 16,410 5,822 |
|
| 16,410 - 16,410 5,822 |
|
| 16,410 - 16,410 5,822 - - - - |
|
| 16,410 - 16,410 5,822 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The financial statements were approved by the Board of Trustees on 11 October 2021 and were signed on its behalf by:
Mr J Dines - Trustee
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HERITAGE MARINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements.
These financial statements have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
Going concern
The principal risk facing the charitable company is its ability to generate sufficient income to cover expenditure incurred in fulfilling the objectives of the charitable company. The trustees have reviewed the cash position of the charitable company and cash forecasts at the date of signing of the accounts and are satisfied that the charitable company will be able to meet all of its financial commitments. As a consequence the trustees believe that the charitable company is well placed to manage its financial risks successfully and that the charitable company has adequate reserves to continue in operational existence for the forseeable future. Accordingly the trustees continue to adopt the going concern basis in preparing the accounts.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commiting the charity to that expenditure, it is possible 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 the headings that aggregate all cost related to that 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.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable companys pensions scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 3
HERITAGE MARINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2 TRUSTEES REMUNERATION AND BENEFITS
There were no trustees remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
3 STAFF COSTS
The average number of employees during the year was as follows:
| 2021 Charitable activities 4 4 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Trade Debtors 7,495 Prepayments and accrued income - 7,495 5 CREDITORS: AMOUNTS FALLING DUE WITHING ONE YEAR 2021 £ Taxation and social security 1,054 Other creditors 2,633 3,687 6 CASH AT BANK AND IN HAND 2021 £ Cash at bank 12,602 12,602 |
2020 4 2020 £ 4,348 - |
|---|---|
| 4,348 | |
| 2020 £ 119 240 |
|
| 359 | |
| 2020 £ 1,833 |
|
| 1,833 |
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HERITAGE MARINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
7 MOVEMENT IN FUNDS
| 7 | MOVEMENT IN FUNDS | |||
|---|---|---|---|---|
| At | Net | At | ||
| **01/04/2020 ** | **Movement ** | 31/03/2021 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 5,822 | 10,588 | 16,410 | |
| 5,822 | 10,588 | 16,410 | ||
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 114,217 | 103,629 | 10,588 | |
| 114,217 | 103,629 | 10,588 | ||
| At | Net | At | ||
| **01/04/2019 ** | **Movement ** | 31/03/2020 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 6,254 | (432) | 5,822 | |
| 6,254 | (432) | 5,822 | ||
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 30,399 | 30,831 | (432) | |
| 30,399 | 30,831 | (432) | ||
| 8 | RELATED PARTY DISCLOSURES |
There were no related party transactions of the year ended 31 March 2021 nor for the year ended 31 March 2020.
Page 5
HERITAGE MARINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
9 COMPARATIVES FOR THE STATEMENT OF FINANCAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Supply of services EXPENDITURE ON Charitable activities Staff Costs Other NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Resticted Total Fund Fund Funds £ £ £ 1,243 - 1,243 29,156 - 29,156 |
|---|---|
| 30,399 - 30,399 26,040 - 26,040 4,791 4,791 |
|
| 30,831 - 30,831 (432) - (432) 6,254 - 6,254 |
|
| 5,822 - 5,822 |
Page 6
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to tho trusteesl member5 of Heritage Marine Foundation On a¢count$ for the year ended 31 March 2021 Charity no (if any} 1129735 I report lo the Iruslees on my exarnination of the accounts of the above charityllhe Trusl'l for Ihe year ended 31 March 2021. Responsibilities and basis of report As the charity's Iruslees, you are responsible for the preparation of the accounts in accordance with the qUirementS of the Charities Act 2011 l-the Ad.) I r8POrt in respect of my 8xaminalion of the Trust's accounts GarTied out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of Ihe Act. Independent I have completed my examinalion. I confim that no material rnallers have •xamin*r'# gtat•ment ¢om• to my atténtion in oonngdton wilh tho oxaminalion whlch gives me cause lo believe that in, any malerial respect.. the accounting recor(Js were not kept in accordance with section 130 ol the Charities Act., or Ihe accounts did not accord with the accounting records,. or Ihe accounts did not comply with the applicable requirements concerning the form and conlenl of accounts Set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a 'lrue and fair, view whSch is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examlnation to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Slgned- Dato: Name: D Richardson Relevant professional qualification(sl or body lif any): Address: 2 High Street Bumham on Crouth Essex. CMO 8AA
Section B Disclosure Only complete il the exami.4er needs lo highlight material matters of concern (see CC32, Independenl examination of charity ac¢ounts.' directions and guidance for examiners). Give here brief details of any items thal the examinerwishes to dlsclose.