## **Trustees' Annual Report for the period** **From** Period start date Period end date 1st February 2020 31st January 2021 **To** ## Section A Reference and administration details **Charity name** Steamship Freshspring Trust **Other names charity is known by** Steamship Freshspring Society **Registered charity number (if any)** 1151907 **Charity's principal address** Little Cleave Lower Cleave Northam, Devon **Postcode** EX39 2RH ## **Names of the charity Trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body)**
**entitled to appoint trustee (if**
**any)**| |---|---|---|---|---| |||Conservator/Secretary||| ||Anne Budd|IT support||| ||John Cooper|||| ||Huw Davies
~~a~~|~~2~~||| ||Brian Gooding||01/02/2020 - 28/10/2020|| ||Richard Ker|Membership||| ||John Puddy|||| ||Annemarie Shillito|Fundraising|20/05/2020 - 31/01/2021|| ||Jonathan Short||01/02/2020 - 18/03/2020|| |||Deputy Chair/Treasurer||| |||||| ## **Names and addresses of advisers (Optional information)** |**Fundraising**|Victoria Symes|| |---|---|---| |**Patron**||House of Lords, London| |**Patron**|Nigel Guild|| |**Patron**|Kevin Slade|| **TAR** 1 March **2012** **Section B Structure, governance and management** ## **Description of the charity’s trusts** Cons�tu�on adopted 10[th] April 2013 Type of governing document - (e.g. trust deed, constitution Charitable Incorporated Organisa�on (CIO) How the charity is constituted - (e.g. trust, association, company) Trustees are appointed or reappointed annually at the Annual General Mee�ng Trustee selection methods - (e.g. appointed by, elected by) ## **Additional governance issues (Optional information)** You **may choose** to include additional information, where relevant, about: - policies and procedures adopted for the induction and training of Trustees; - the charity’s organisational structure and any wider network with which the charity works; - relationship with any related parties; The Steamship Freshspring Trust is a member of the Mari�me Heritage Trust, which provides regulatory support regarding vessel cer�fica�on and crew training issues. Membership of Associa�on of Independent Museums, suppor�ng training, governance and inclusion. All Trustees give their �me voluntary and receive no remunera�on Trustees have individual responsibili�es alongside overall governance of the Charity in order to achieve objec�ves. Trustees regularly a�end training as appropriate to ensure development of the aims and governance of the Trust. The Trust has a collabora�ve approach towards developing construc�ve rela�onships with organisa�ons with similar aims. Primarily mari�me heritage, disadvantaged groups, industrial heritage and educa�on. Governance policies cover risk and the responsibili�es of Trustees. - Trustees’ consideration of major risks and the system and procedures to manage them. **TAR** 2 March **2012** ## **Section C Objectives and activities** **Summary of the objects of the charity set out in its governing document** To advance the educa�on of the public through the preserva�on and opera�on of a historic steamship, and the promo�on of mari�me studies par�cularly amongst young people for the public benefit. **Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that Trustees have had regard to the guidance issued by the Charity Commission on public benefit)** In planning and carrying out our ac�vi�es for the year we kept in mind the Charity Commission's guidance on public benefit at our Trustee mee�ngs. Through Associa�on of Independent Museums (AIM) Trustees work to increase awareness of industrial heritage, engineering, mari�me heritage and the delivery of educa�on leading to increased awareness of heritage and posi�ve career choices. Through increasing Trust membership, the Trust increases delivery poten�al and engages a progressively wider audience in apprecia�on of mari�me heritage and employment opportuni�es. Through a range of public ac�vity with statutory authori�es, Bideford Bay Chamber of Commerce and event par�cipa�on, members deliver a posi�ve message about heritage and opportuni�es within the mari�me and engineering sectors. ## **Additional details of objectives and activities (Optional information)** You **may choose** to include The Trust has one part �me employee as Project Manager otherwise is further statements, where dependent on volunteer par�cipa�on to achieve its objec�ves. A dedicated relevant, about: Trustee board progressively increases Trust Membership and volunteer ac�vity both physical and academic. This leads to compounding engagement and  policy on grantmaking; increasing par�cipa�on. - policy programme related investment; - contribution made by volunteers. **TAR** 3 March **2012** Section D Achievements and performance |**Summary of the main**
**achievements of the charity**
**during the year**|The Trust over the past year has:

Ac�vely raised funds to enable the Trust to con�nue to exist, covering
statutory costs and losses due to Covid-19

Provided support for Volunteers during the Covid-19 period and has
engaged new volunteers to take care of the ship and con�nue restora�on

Gained considerable editorial in many prominent publica�ons

Drama�cally improved awareness of our historic ship through media,
publica�ons and websites

Engaged with Heritage Lo�ery Fund to pursue further major funding

Worked with other Trusts and educa�on providers to understand and
deliver the implica�ons of our objects

Gained partnerships with educa�on and employment providers

Carried out considerable research into the history of the ship and her sisters

A�ended many mee�ngs and training events to be�er understand the
management/governance of the project

Developed a rolling ten year business plan and budgets

Created high quality leafets and a quarterly printed magazine.

Created an onboard tour guide for public learning.

Developed our rela�onships with complementary organisa�ons in Devon.

Engaged a fundraising consultant to assist with ongoing major project
funding

Engaged in Zoom supported public speaking and public events

Ac�ve Chamber of Commerce par�cipa�on

Galvanised a prominent support network in Devon

The ship has been closed throughout 2020 and early 2021 due to Covid-19
regula�ons. Under normal circumstances the ship would be open on a
regular basis and promoted group visits to ensure public engagement.

The ship has been closed throughout 2020 and early 2021 due to Covid-19
regula�ons. We now encouraged school ship visits.

There has been no physical school ac�vity since January 2020 due to Covid-
19 regula�ons. We will now commence delivery of a mainstream primary
school project in local schools

Carried out public surveys to be�er understand public interest in mari�me
heritage.

Posi�vely engaged with local authori�es to achieve recogni�on and support
of the project
The Trust is now linking with a range of partner organisa�ons that will be
mutually helpful and indeed we hope to posi�vely develop this commitment,
we also believe that the ship and the educa�onal aspects of the project have a
sound future.|| |---|---|---| ## **Section E Financial review** We hold cash at the bank at 31st January 2021 of £124,336, of which is £54,936 **Brief statement of the** is unrestricted funds and £69,400 is restricted. **charity’s policy on reserves** The ‘Restricted’ funds are made up of contractual debts due but not yet paid, money received towards specific projects not yet started or in progress and a Sinking Fund. The Sinking Fund is a reserve to be built up over a 6 year period, this being the expected frequency of dry docking the ship to cover the budgeted survey and maintenance costs likely to be incurred on each occasion. The Sinking Fund also provides a reserve for emergency hull repairs should this **TAR** March **2012** 4 be required between planned dry dockings. The Sinkin8 Fund stands at £43,332, leaving an unrestricted balance of £11,604 which is held in order to meet planned expenditure ImoorinB fees, insurance. essential repair works and other overheadsl plus any unforeseen expènditure that may occur. D•talls of any funds materialty In doficlt Noi applicable Further flnancial review d•talls (Optional information> You may cho￿? to Include Our main source of fund5 th15 year has been grants to enable the Trust to 8ddilion81 infonnation, whère suryive the closure imposed by Covld. WSthoul these 8rants St is qvestionable relevant about". whether the Trusi would have survived. Donatiorts were down by 75% and the charity's principal there was a reduction in ship costs due to closure. 8our¢es of funds (including any fundraisingl.. how expenditure has supported the key objective8 of the chaTIty.' inve51menl policy and objectives including any ethical investment policy adopted. Althou8h the ship was t105ed from late March 2020, the Trust has made good use of the tSme and grants reCE￿ed to develop our website, extend the Project Managerfs employment contract, commission a viablllty Study and ensure thai the Trust emerges post-covld as a robust and Ilnancially stable or8anisation. We havp a150 Strengthened the Trust by recrulting a Trustee whose expertisè is fundrai51ng. Section F. Other optional information The Trustees have been united delivering a¢hievements which would be creditable In a much larger and More establlshed organisation. Thi5 ongolng dedication Creates a very posltrve future for the delivery abllity of the Trust. Thè period from March 2020 has been difficult due to Covid-19 resiri¢tTrons. however the Trust has been actlve In preparlng for the future, conductin8 essential 5tudie5 and raisin8 funds to enable a healthy suNlval and p￿ParIng to open to the public when safely possible. Section G Declaration The Trustees declare that they have approved the Trustees, report above. Slgngd on behalf of the charlty'¥ Trusteès Slgnaluraljl Full nam•(s John Puddy Stephen Attenborough Posltton leg S•cretary, Chalr, etc Chair Secretary Da 2oLI TAR March 2012 **Charity Name No (if any) Steamship Freshspring Trust 1151907 Receipts and payments accounts For the period** Period start date Period end date **To from 1st February 2020 31st January 2021** ~~ee~~ **CC16a** ## **Section A Receipts and payments** ||**Unrestricted**
**funds**||**Restricted**
**funds**|**Restricted**||**Endowment**
**funds**|**Endowment**
**funds**||**Total funds**||**Last year**| |---|---|---|---|---|---|---|---|---|---|---|---| ||**to the nearest**
**£**||**to the nearest £**|**to the nearest £**||**to the nearest £**|**to the nearest £**||**to the nearest £**||**to the nearest £**| |**A1 Receipts**|||||||||||| |**Grants**|**32,659**||**76,690**|||**-**|**-**||**109,349**||**17,365**| |**Donations**|**5,776**||**-**|**-**||**-**|**-**||**5,776**||**20,459**| |**Membership**|**4,074**||**-**|**-**||**-**|**-**||**4,074**||**3,300**| |**Gift Aid**|**2,768**||**-**|**-**||**-**|**-**||**2,768**||**5,660**| |**Other**|**409**||**-**|**-**||**-**|**-**||**409**||**784**| ||**-**||**-**|**-**||**-**|**-**||**-**||**-**| ||**-**||**-**|**-**||**-**|**-**||**-**||**-**| ||**-**||**-**|**-**||**-**|**-**||**-**||**-**| |**_Sub total_**_(Gross income for AR)_|**_Sub total_**_(Gross income for AR)_|_(Gross income for AR)_|**45,686**
_(Gross income for AR)_|||**76,690**|||**-**|||**122,376**|||**47,568**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||||| |**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**_Sub total_ -**
**-**
**-**
**-**
**-**
**_Total receipts_ 45,686**
**76,690**
**-**
**122,376**
**47,568**
**A3 Payments**
**A2 Asset and investment sales,**
**(see table).**
~~——————~~|||||||||||||||| |**Grant Expenditure**|||**12,415**|||**30,784**|||**-**|||**43,199**|||**49,483**| |**Fundraising**|||**1,666**|||**-**|||**-**|||**1,666**|||**1,332**| |**Ship Costs**|||**1,192**|||**-**|||**-**|||**1,192**|||**7,706**| |**Insurance**|||**2,766**|||**-**|||**-**|||**2,766**|||**3,265**| |**Trustee Costs**|||**50**|||**-**|||**-**|||**50**|||**771**| |**Volunteer Costs**|||**255**|||**-**|||**-**|||**255**|||**317**| |**Ptofessional**|||**640**|||**-**|||**-**|||**640**|||**907**| |**Membership**|||**1,286**|||**-**|||**-**|||**1,286**|||**1,750**| |**Other**|||**363**|||**-**|||**-**|||**363**|||**624**| |**_Sub total_ **|||**20,633**|||**30,784**|||**-**|||**51,417**|||**66,155**| |**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**_Sub total_ -**
**-**
**-**
**-**
**-**
**_Total payments_ 20,633**
**30,784**
**-**
**51,417**
**66,155**
**A4 Asset and investment**
**purchases, (see table)**
~~——————~~|||||||||||||||| |**_Net of receipts/(payments)_ **
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_ **||**25,053**
**45,906**
**-**
**24,954**
**- 24,954**
**-**
**4,929**
**48,448**
**-**
**54,936**
**69,400**
**-**
~~===>~~||||||||||**70,959**
**-**
**53,377**
**124,336**|||**- 18,587**
**-**
**71,964**
**53,377**
~~=>~~| ||Section B Statement|ofassets|ofassets|assets and|assets and|liabilities at|liabilities at|the end ofthe|the end ofthe|the end ofthe|the end ofthe|the end ofthe|period||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||Unrestricted||||Restricted|||Endowment|| ||||||||||funds||||funds|||funds|| ||B1 Cashfunds||||a,
Bank
|||||||tonarest
54,936||||etoneareste=
tomeareste
69,400
|
|
-
||||||| ||||—_—_—_—_|||||||||||||1|||| ||||||||||||||:|as||:|| |||||[agree balances wilh||rece:pts|and payments||||||||||| ||||||||accourtis||||||||||| ||||||||||Unrestricted||||Restricted|||Endowment|| ||||||||||funds||||funds|||funds|| ||||||||||to nearest £||||to nearest £|||to nearest £|| ||B2 Othermonetary assets|||||||||?||||-|||:|| ||||i||||i||||||_|||Lo|!| ||B3 Investment assets||'|||Fund
ee, SELbelongs
ij||||to which
belongs||Cost (optional)
———————,
[~
|||||Current value
:
-——(eptional)
||| ||||—_—_—_—_——————_—||||||+E|||||rendeC|||eC|| ||||||||||Fund
assetbelongs|towhich
belongs||Cost (optional)||||Currentvalue
(optional)|| ||B4 Assets retained forthe|||||||||||||-|||
||| ||charity’sown use||||||||
i||||||||
ni
-|||| |t|||i|||||;|||4||||1|ot|i| ||||||||
eeeeeee—_——__._____-_|||||————||||j
LL=|-
|i
-
eeinee|||||
4| ||||||||||Fund|to which|||Amount due|||When due|| ||B5 Liabilities|ees|||||_
i
|||lability|relates|||joptional)|-|foptional)
|]||i| ||||||aei,|||||ee||eeto||||tosepsis4|| ||||||||||||||||aan||ae||| |||||||||||||||||||| ||Sianed byone or two trustees on
behaif of allthe trustees|[||rae|.
~ 4 “Signature
—
-
-=|||r=||.
shishittitcas
=
ne||||||Date of
approval
reo||| ||CCXXR2accounts(SS)||||||2|||||||||17/05/2021|| **----- Start of picture text -----**
| | CHARITY COMMISSION
| | FOR ENGLAND AND WALES
**----- End of picture text -----**
## Independent examiner's report on the accounts ## Section A ## Independent Examiner’s Report Report to the trustees/ members of | Steamship Freshspring Trust On accounts for the year | 31° January 31° January January 2021 ended - | 31° January 31° January January 2021 Charity no | 1151907 (if any) - | report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended ; - Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act’). | report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. - Independent | have completed my examination. | confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect: e accounting records were not kept in accordance with section 130 of the Act or - e the accounts do not accord with the accounting records | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. * Please dplete the words in the brackets if they do not apply. Relevant professional |Gacos oF THE INSTITUTE CF CHARTERED PrecourTAnTs qualification(s) or body |}tN GNeévaN> » WALES. (if any): IER 1 October 2018