CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From Period start date 1st February 2023 To Period end date 31st January 2024 Charity name: Steamship Freshspring Trust Charity registration number: 1151907 Objectives and Activities SORP reference Para 1.17 Summary of the purposes of the charity as set out in its governing document To advance the education of the public through the preservation and operation of a historic steamship, and the promotion of maritime studies particularly amongst young people for the public benefit. Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Para 1.17and 1.19 By increasing Trust membership, opening the ship to the public between April and October, providing resources for schools, talks and educational visits to the ship throughout the year. the Trust engages a progressively wider audience in appreciation of maritime heritsge and employment opportunities. Through a range of public activity with statutory authorities. partners and event participation, members deliver a posltive message about heritage and opportunities within the maritime and engineering sectors. As a result of membership and links with the Association of Independent Museums {AIMI Trustees work to increase awareness of industrial heritage, engineerin& maritime heritage and the delivery of education leading to increased awareness of heritage and positive career choices. The Trust employs a Community Learning OfFicer on a permanent basis with the aim of reaching out to young people to promote maritime studies and advance education. During this year the Trust has also employed Audience Development staff to ensure a wider range of people engage with the heritage, funded by a NLHF grant. The longer term future of the ship has also been progressed with a feasibility study and the identification of a partner to support detailed development planning. Statement conf irm ing whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit Para 1.18 In planning and carrying out our activities for the year we kept in mind the Charity Commission's guidance on public benefit at our Trustee meetings.
Additional information (optional) You ma ch¢X)se to include further statements where relevant about: SORP reference Grant making does not form part of our activities Policy on grant making Para 1.38 Social investment does not form part of our activities Policy on social investment including program related investment Para 1.38 The Trust is largely dependent on volunteer participation to achieve its objectives. A dedicated Trustee board leads the governance of the Trust. With other volunteers and a paid member of staff, Trustees progressively increase Trust membership and volunteer activity, which includes ship restoration, stewardinE open days and events, fundraising and communication. As the activities and development of the ship grow, along with eve nt attendance, new opportunities for volunteer contribution have increased, this leads to compounding engagement and increasing participation. Contribution made by volunteers Para 1.38 Other
Achievements and Perforniance SORP reference The Trust over the post year has." Engaged with Heritage Lottery Fund and gained major funding to support the development of the ship towards operation, the broadening of the audience base and a plan to enable a more sustainable future for the Trust. Gained major media exposure on TV, radio and in print as a result and of subsequent progress. Helped create a new group supporting local heritage charities With this group, successfully worked to gain heritage Harbour Statu5 for Bideford. Partnered with other Trusts and education providers to understand and deliver the implication5 of our objects Gained partnerships with education and employment providers Attended meetings and training events to better understand and improve the managementlgovernance ofthe Trust. Recruited new Trustees and mapped skills to enable recruitment of further board members. Engaged consultants to support development planning. Involved knowledgeable volunteers in development planning Developed our relationships with complementary organisations nationally. Successfully raised sufficient funding for core costs. Building on a mutual support network in Devon, carried out public surveys to better understand public interest in maritime heritsge. Positively engaged with local authorities to achieve recognition and support of the Trusts long term aims. Engaged Naval architects to conduct a feasibility study for returning the ship to operation Summary of the main achievements of the charity, identifying the difference the charity's work has made to the circumstsnces of its beneficiaries and any wider benefits to society as a whole. Para 1.20
Additional information (optional) You ma chcx)se to include further statements where relevant about: The year has been very positive as we celebrated gaining a major grant from the NLHF and worked hard as a team to deliver the first 9 months of the planned programme. We employed audience development stsff, evolved our marketing and communications. improved data capture and launched and ran a successful open season with a range of new volunteers including several under 16,5 with their parents. We continued to develop relationships with high profile partners to achieve our green objectives for potential ship operation. We employed a Trust Administrator to support the strengthening of the Trust. In line with the Trust's long-term development objectives, we have undertaken a Governance review and have worked to implement recommendations including the recruitment of three new Trustees and the creation of a range of sub groups to support the Trustee board. The appointment of an evaluation and development planning consultant has also been achieved to support the long term future and sustainability of the ship. Working towards an operational future for the ship herself, we engaged naval architects to review the ship's suitability for carrying passengers. Volunteers and trustees supported this engagement and the study was delivered showing that it is possible and that given the right investment in her structure, we could be operational again. Achievements against objectives set Para 1.41 We gained significant NLHF funding with a match contribution from the Pilgrim Trust to deliver an 18 month programme of development. In addition funds were raised from local Councils, Trusts and Foundations to support core costs. Perfomiance of fundraising activities against objectives set Para 1.41 {optional) Investment performance against objectives Para 1.41 {optional) Other
Financial Review Review of the charity's financial position at the end of the period Para 1.21 We hold cash at the bank at 31st January 2024 of £53,453 of which is £25.294 is unrestricted funds and £28,159 is restricted. Statement explaining the policy for holding reserves stating why they are held Para 1.22 The 'Re5tricted' fund5 are made up of contractual debts due but not yet paid, money received towards specific projects not yet started or in progress. We set aside £4.2000 annually towards 5 yearly dry docking. We also see this growing fund as our reserve which will support the charity and in the event of any emergency or to cover winding up costs including staff payments. It never falls below a minimum of £5,000 but also grows to a maximum of £25,000 as we save towards our 5 yearly dry docking. Amount of reserves held Para 1.22 £5,000 Reasons for holding zero reserves Details of fund materially in deficit Para 1.22 NIA Para 1.24 No fund nor subsidiary undertaking identified as materially in deficit Explanation of any uncertainties about the charity continuing as a going concern Para 1.23 At the date of approving the report and accounts. no uncertainties about the charity's ability to continue a5 a going concern were raised or identified Additional information (optional) You ma ch(x)se to include further statements where relevant about: Principal funding has been NLHF The charity's principal sources of funds (including any fundraising) Para 1.47 {optional) Investment policy and objectives including any social investment policy adopted Para 1.46 Major risk 15 achieving core funding requirements. A description of the principal risks facing the charity Para 1.46 The charity employs a Community Learningofficer on permanent basis for 3 days per week. Other
Structure, Governance and Management Description of charity's trusts: Type of governing document Para 1.25 Constitution adopted 10th April 2013 How is the charity constituted? Para 1.25 Charitable Incorporated Organisation (CIO) gnratpd Trustee selection methc(Js 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 Trustees are appointed or reappointed annually atthe Annual General Meeting via the membership. Trustees become eligible for re election after 3 years. The Chair is elected annually. Additional information (optional) You may choose to include further statements where relevant about: {optionall Policies and procedures adopted for the induction and training of trustees Para 1.51 (optionallThe charity works in collaboration with The River Torridge Heritage Group, Heritage Harbour managed by Maritime Heritage Trust IMHTI, MHT powered vessels group, BMT Global Ltd. University of the West of England. Petroc College. The charity's organisational structure and any wider network with which the charity works Para 1.51 {optionall Relationship with any related parties Para 1.51 {optional) Other
Reference and Administrative details Charity name Other name the charity uses Registered charity number Charity's principal address Steamship Freshspring Trust Steamship Freshspring Society 1151907 Little Cleave Lower Cleave Northam, Devon EX39 2RH Names of the charity trustees who manage the charity Trustee name Office (rf any) Dates acted rf not for whole year Name of person (or body) entitled to appoint trustee rfan Stephen Attenborough Conservator/Secretary John Puddy Chair/Education Michael Teare 10/06/2023 - 3110112024 William Blythe Finance 10/06/2023 - 3110112024 Martin Kemp lo11/2023 - 31/01/2024 Huw Davies Education Brian Gooding Annemarie Shillito PR/publications Fundraising, Deputy Chair 10 Corporate trUStS - names of the directors at the date the report was approved Director name NIA Name of trustees holding title to propety belonging to the charity Trustee name Dates acted rf not for whole ar NIA NIA
Funds held as custodian trustees on behalf of others Description of the assets N/A 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 N/A 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 None Other o tional 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) TONL) Pu Position (eg Secretary, Chair. etc) Date
CHARITY COMMISSION FOR ENGLAND AND WALE5 Steamship Freshspring Tt 1151907 Receipts and payments accounts CC16a For the period from To 01102123 31101124 Section A Receipts and payments Unrestrlcted funds to the neaYe$t Restrlcted funds Endowment funds to the nearest £ Total funds Last year to the nearest £ to the nearest£ to the nearest £ A1 Receipts Gonts Oonalions Membèrship GiftMO Other 8.340 7,224 1089 187 4,716 106.830 115.170 7,224 2,089 187 4,716 30,168 7,492 3,621 2,127 10.538 Sub total(Gross income forAR) 22.556 106,830 129,386 53,945 A2 Asset and investment sales, (see table). Sub total zzaz Total receipts 22,556 106,830 129,386 53.945 A3 Pa ments Grant Expenditure Fundraising Ship Costs Insuran Truslee I Vdunteer rxjsts Salary costs ProfessiDnal wsts Membership Other 85,469 85,469 4,711 3,201 7,661 3,208 11.225 3,838 773 27,992 7,814 285 96 4,711 3,201 4.406 833 17,546 1,384 2,310 2,309 36.699 833 17,546 1,384 2,310 2,309 Sub tota 85,469 122,168 62,892 A4 Asset and investment purchases, {see table) Com uter Equipment 1,311 Sub tota 1.311 36.699 85.469 122,168 64.203 Net of receipts/(payments) - A5 Transfers between funds A6 Cash funds last year end Cash funds this year en 14,143 21,361 7,218 10,259 39,437 25.294 6,798 28.159 46,235 53,453 56,493 46,234
Section B Statement of assets and liabilities at the end of the period Unrestricted funds to nearest £ Restricted funds Endovmient funds to ngarest £ Categories Delails to nearesl £ B1 Cash funds Bank Acmunt 31,981 28.159 Total cash funds 25,294 28,159 (agree balances with Teceipts and payments actountlsll Unrestricted funds to neaTrst £ Restricted funds Endowment funds to nearest £ Details to nearest £ Fund to which asset belongs Cost loptionall Current value loptionall Detsils B3 Investment assets Fund to which asset belongs Unrestricted Details Computer Equipment Cost loptionar) Currgnt value {optionall charity's own use - 4111 Fund to which liabilty relatgs Amountdue loptionall Details Whgn dug {opfjonall B5 Liabilities Signed by one or tsvo trustees on behalf of all the trustees Signature Print Name Date of approval jC>TrJ NJ PU
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of STeAMS+41 P FResHSPLlts16 TRL)ST On accounts for the year ended 31s i TAfvJUh-Ay ZOILÈ Charity no (if any) 1151907 Set out on pages +A invliiAA Yi I report to the trustees on my examination of the accounts of the above charity ('the Trust") for the year ended 311 O I/ Z02¢k 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"). I 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, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have 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: accounting records were not kept in accordan with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's ststement I have no concems 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 delete the words in the brackets rf they do not apply. Signed: Date: 25_11-2 Name: FRAhfC&S (J ort1 LLO-/ t) Relevant professional qualification(s) or body (if any): ACfk4A L tr?-ÉTI ) Address: TPIé UNiN)éV , FeAaklAM BA @Tofvj ToP-12INI &TofvJ &*3s< 7H Z IER October 2018