2020-10-01-accounts

Legaland administrative	Legaland administrative	information
Foreword
Performance	Report
Statement of	Trustees'	responsibilities. .....
Independent	auditors'	report to the Trustees ofthe Mercantile	Marine Memorial Trust.....
Statement of	Financial	Activities. .
Charity Balance Sheet.		.
Cash flow statement. .
Notes to the	Financial	Statements.

Charity number	Charity number	1179537
Registered	office	HM Naval Base PP66
		Portsmouth
		Hampshire P013NH
Trustees		Captain Josh Garner
		Professor Dominic	Tweddle
		Tim Schadla-Hall
		Alastair Chapman	- resigned 2" July 2021
Accountants	&auditors	Compass Accountants		Limited
		Venture House
		The Tanneries
		East Street
		Titchfield
		Hampshire
		PO14 4AR

Forthe year ended 31December 2020
		Unrestricted	2020	Unrestricted	2019
		funds	Total	funds	Total
	Notes		E	E	f
Income from:
Donations and legacies
Balance of LIBOR income from the National
Museum ofthe Royal Navy				1,184,095	1,184,095
Total income				1,184,095	1,184,095
Expenditure on:
Charitable activities
Collections and asset management		7,900	7,900	22,184	22,184
Total expenditure		7,900	7,900	22,184	22,184
Net income/(expenditure)		(7,900)	(7,900)	1,161,911	1,161,911
Transfers between funds
Net movement in funds		(7,900)	(7,900)	1,161,911	1,161,911
Reconciliation offunds:
Funds brought forward		1,161,911	1,161,911
Total funds carried forward		1,154,011	1,154,011	1,161,911	1,161,911

as at 91De	cember	2020
				2020	2019
			Notes	6	6
Fixed assets
Heritage assets				600,000	600,000
				600,000	600,000
Current assets
Debtors				561,211	565,511
				561,211	565,511
Creditors: amounts		falling
due within	one year			(7,200)	(3,600)
Net current	assets			554,011	561,911
Net assets				1,154,011	1,161,911
Funds
Unrestricted	funds			1,1.54,011	1.,161,911
Total funds				1,154,011	1,16'1,911

				2020	2019
Cash flows from operating	activities:
Net cash provided by/(used	in) operating		activities		600,000
Cash flows from investing activities:
Purchase of heritage assets					(600,000)
Cash and cash equivalents	at 1January	2020
Cash and cash equivalents	at 31December		2020
Net income/(expenditure) for	the reporting	period		(7,900)	1,161(911
(Increase)/decrease in debtors				4,300	(565,511)
Increase/(decrease) in creditors				3,600	3,600
Net cash provided by/(used	in) operating		activities		600,000

				Collections and
				asset management	2020	2019
				f	f
Storage costs				3,908	3,908	9,102
Governance		and support costs		3,992	3,992	13,082
				7,900	7,900	22,184
Governance		and support costs
				Collections and
				asset management	2020	2019
				f	f	f
Accountancy		fees		900	900	900
Auditor's	remuneration			2,700	2,700	2,700
Legal and	professional		fees	392	392	8,951
Other costs						531
				3,992	3,992	13,082

	Five-year summary		2020	2019
			6	6
	Additions
	Purchases			600,000
	Donations
	~Dis osals
6.	Debtors
			2020	2019
			f	6
	Other debtors		561,211	565,511
			561,211	565,511
7.	Creditors: amounts	falling due within one year
			2020	2019
			f	6
	Accruals		7,200	3,600
			7,200	3,600

Analysis of	net assets between funds
		Tangible	Net Current	2020
		Fixed Assets	Assets	Total
			E	E
Unrestricted	funds	600,000	554,011	1,154,011
		600,000	554,011	1,154,011.
		Tangible	Net Current	2019
		Pined Assets	Assets	Total
		f	E	E
Unrestricted	funds	600,000	561,911	1,161,911
		600,000	561,911	1,161,911