2021-12-31-accounts

Trustees			Captain H J Conybeare	Captain H J Conybeare	(Chairman)	(Chairman)
			Mr M Burrow (Ex-officio			Chairman	HCMM	Finance	S.Risk Ctte)
			Captain D Chadburn	(Ex-officio Master HCMM from 1May 2020to 1 May
			2021,appointed 1May		2021)
			Commander LChapman			(Ex-officio Master HCMM			from 1May
			2021to 1May 2022)
			Captain J Hughes (resigned 1May				2021)
			Captain J K Mooney (Ex-officio Chairman					Education	and
			Training Committee)
			Captain N Rodrigues	(Almoner)
			Commander P Aylott
			Captain R Barnes
Registered		Charity Number	1172234
Administrator			Honourable Company	ofMaster Mariners
			HQS Wellington
			Temple Stairs
			Victoria Embankment
			London WC2R 2PN
Principal	Office		HQS Wellington
			Temple Stairs
			Victoria Embankment
			London WC2R 2PN
Auditors			Knox Cropper LLP
			65 Leadenhall Street
			London EC3A 2AD
Bankers			CAF Bank Ltd
			25 Kings Hill Avenue
			West Mailing
			Kent ME194JQ
Investment		Managers	Smith &Williamson
			Investment Management
			25 Moorgate London	EC2R 6AY

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							Notes	2021	2020
								f	f
Cash Flows from Operating Activities
Net Cash provided by (used in) Operating			Activities				A	(191,384)	(140,041)
Cash Flows from Investing Activities
Dividends and Interest								85,110	69,577
Proceeds from Sale of Investments								1,014,703	1,765,051
Purchase of Investments								(682,429)	(1,695,064)
Investment Management Fees								(22,812)	(19,968)
Movement in Cash at Investment	Managers							(66,925)	40,249
Net Cash provided by (used in) Investing Activities								327,647	159,845
Change in Cash and Cash Equivalents		in the	Reporting			Period		136,263	19,804
Cash and Cash Equivalent atthe beginning ofthe					Reporting
Period								36,666	16,862
Cash and Cash Equivalent at end ofthe Reporting					Period			f172,929	f36,666
A. Reconciliation of Net Income/(Expenditure)				to net		cash flow
from Operating Activities
Net Income/(Expenditure) for the		Reporting		Period				546,940	128,235
(Gains)/Losses on Investments								(655,815)	(235,654)
Decrease/(Increase) in Debtors								(2,207)	1,083
(Decrease)/Increase in Creditors								(13,184)	22,740
Dividends and Interest								(90,532)	(76,413)
Investment Management Fees								23,414	19,968
Net Cash provided by (Used in) Operating			Activities					f(191,384)	f(140,041)
B. Analysis ofchanges in net funds
									At
						At 01/01/2021		Cash flows	31/12/2021
						f		f	f
Cash at bank and in hand						f36,666		f136,063	f172,929

vestment Income
	2021	2020
	Total	Total
	f	f
Dividends	90,358	76,301
Bank Interest	174	112
	f90,532	f76,413

nalysis ofCharitable A	ctivities
			2021
		Unrestricted	Restricted
Direct Costs		Fundsf	Fundsf	Totalf
Grants and Awards
Grants to Individuals		49,092	26,016	75,108
Grants to Organisations HCMM Journal	(Note 10)	1,980	77,728 11345	79,708 11,345
		51,072	115,089	166,161
Library Works			15,680	15,680
Support Costs (Note 3.a)		16,335 f67,407	f130,769	16,335 f198,176
			2020
		Unrestricted	Restricted
Direct Costs		Fundsf	Fundsf	Totalf
Grants and Awards
Grants to Individuals		63,167	64,690	127,857
Grants to Organisations	(Note 10)	2,200	11,074	13,274
HCMM Journal			8,717	8,717
		65,367	84,481	149,848
Support Costs		15,557 f80 924	f84,481	15,557 f165,405
Support Costs			2021 f	2020 f
Management Fees - HCMM			12,000	12,000
Other			563	93
Governance Costs			3,772 f16,335	3,464 f15,557

		2021	2021
Market Value		f
At 1stJanuary Acquisitions and accumulated Disposals Gains/(Losses) on investments At 31st December	incom~	5,012,599 687,138 (981,718) 622,830 f5,340,849	4,840,096 1,701,900 (1,765,051) 235,654 f5,012,599
Investments at Market Value		5,340,849	5,012,599
Cash with Investment Managers		71,930 f5,412,779	5,005 f5,017,604
Historic cost of investments		f3,618,148	f3,792,407

Debtors
		2021	2020
		f	f
Due from HCMM		2,207
Sundry Debtors		880	167
		f3,087	f167
reditors: Amounts	Falling Due Within One Year
		2021	2020
		f	f
Due to HCMM			11,453
Other Creditors		1,272	1272
Accruals and Deferred Income		26,682	27,811
		f27,954	f40,536

estricted Funds
		2021	2020
		f	f
Balance at 1stJanuary		1,658,614	1,640,861
Income		31,686	26,745
Expenditure		(138,964)	(91,470)
Gains on Investment	Assets	229,535	82,478
Balance at 31stDecember		f1,780,871	f1,658,614

t Assets By Fund
	Unrestricted	Restricted	2021
	Fund	Fund	Total
	f	f	f
Investments	3,518,306	1,894,473	5,412,779
Net Current Assets/(Liabilities)	261,664	(113,602)	148,062
	f3,779,970	f1,780,871	f5,560,841
	Unrestricted	Restricted	2020
	Fund	Fund	Total
	f	f	f
Investments	3,261,443	1,756,161	5,017,604
Net Current Assets/(Liabilities)	93,844	(97,547)	(3,703)
	f3,355,287	f1,658,614	f5,013,901

ants ToOrganisations
			2021	2020
			f	f
Honourable Company ofMaster		Mariners	60,000
London Nautical School				582
Ocean Youth Sailing	Trust		7,000
Portsmouth Harbour	Marine		4,000
Royal Liverpool Seaman's Orphan		Institution	1,980	2,200
Sea Cadets Aberdeen			1,000	1,000
Sea Cadets Hull			1,000	1,000
Sea Cadets Newport			1,000	1,000
Sea Cadets Sefton			1,000	1,000
Sea Cadets Southampton				5,000
Sea Cadets York			2,000
Thames Traditional	Rowing Association		728	1,492
			679,708	613,274