## **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: **----- Start of picture text -----**
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
**----- End of picture text -----**
## **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 Page 2 **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**| Page 4 **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.