Charfty number.. 1184634 The Medway Mission to Mariners TTUStees' report and flnancial statements For the year ended 5 Aprll 2024
The Medway Mission to Mariners Contents Page Report of the tnjslees Independent examlnefs report Slalement of financial activities Balance sheet Noies to the financial statements 8-15
The M8dway Mission to Marlners Trustee5 report For tho yèar ended 5 April 2024 The Trustees present their annual report iogelherwilh the financial statements ofThe Medway Mission lo Mariners (Ihe'chariv) for the year ended 5 Aprll 2024. The Charttable Incorporated Organisalion was consliluled on 29th July 2019 but dFd not commence lo operate until 6th April 2020 when the assets and liabitits'es oflhe Medway Mi5wn to Seafarers Trust were transferred lo it. Objectlves and actfvities Pollcies and objectlves The objects of the Charity are the rebef of those rrn, women and their familtes in need who.. Work or have worked on the sea.. or Active or ret[d rnembers of the armed f¢)r In the United Kingdom bul with priority given lo those in need in the unitary aulhorty ofmedway by the provision of grants lo Indivlduals and olhercharilable organisalions to promote splrilual. moral and physical wellbeing. rhe Trustees confirm that they have referred to Ihe guidance ¢onlainèd in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning futiire aGlivities and sellirvJ the grant making policy for the year. b. Grant maklng Policles The Charity issues grants In accordan with ils objects. Grants this year have C¢)nlribuled lowards the running costs and improvements al Pembroke Hthjse. Gillingharn, and al Sir John Hawkins Hospital, Chalham, and to The Mission lo Seafarers lo be spent on seafareiy welfare services. Achlevements and perfonnance Revlew of actlvltlgs The results forthe year are set out on page 6 and show Ihal the gross Income forthe yearwas £28,590, an inGrease o12.ovo on Ihe previous year. Grants made in Ihe year were £18.724. a reductSon of 25.1 /0. After governance costs, the surplus Dn unre¥triGted funds amounled lo £7,275, leaving a balance on unrestrickd funo of £18.128. b. Investment policy and perfomiance The constitution allows forthe trustees lo tnvesl in any oflhe securities aulhorised by law forlhe inveslmenl of Irusl funds. All investments are to be registered in the name of the NomirEe Tnlee. The stockbrokers appointed are Charles Stanley & Company Llmlled. 25 Luke Street. London EC2A4AR.
The Medway Mlsslon to Marin8f6 Trusteès report (Gontinued) For the year ¢ndod 5 April 2024 Achievements and perforniance (contlnued) Bankers The Charity's bankers are National Westrninsler Bank PLC. 148 Huh Stree( Chatharn, Kent ME4 4DU. d. Independent examiner The independent examiner 15 Samantha Rouse on behalf of Kreston Reeves LLP..ChartereLI Acoountanls, Montague Place. Quayslde. Chaiham Marilime, Chatham. Kent. ME4 4QU. Flnanclal revlew ReseNes pollcy No specific reserves are kept bythe Charity. At 5 April 2024 the endowmentlunds amounted to £817,615 (2023: £794,597} and the unrestricted funds tolalled £18.128 (2023.. £10.8531. structure, governance and rnanagenRnt a. Constitutlon The Charity was founded on 29th July 2019 as a Charilable IncNporaled Qrg8nisation by way ol a deed of constitution, and took over the activilies of the Medway Mission to Seamen Trust with effecl from 6Lh April 2020. Charles Stanley and Company Limited of 25 Luke Street. London EC2A 4AR have been appoinled a5 Nominee Trustee. The Charity is registered with the Charity Comrrission, number 1184634. and the registered office of the Charity is Woodside, Hcokwood Park. Limpsfield. Surrey, RH8 ODU.
The Medway Mission to Marlners Truste?5 report Icontlnued) For the year ended 5 Aprll 2024 Structurg. govemance and management (contlnued) b. Method of appointment or electlon of Trustees The Charity trustees of the Trust were: David A Laplhorn Ichalrman) Stephen D Roper (Hon. Treasurer & Secretary) Revd. J Anthony Randall John Baker Ll Commander Stephen Small lan Spreadborough Capl. Eion Lyons (appointed 19n June 2023) Revd. Nigel Bourne Carmen Cartmell Iresigned 3 November 2023) The trustee ere 8ppolnted for 8 period of one lo three years and retire by rolalion and then appointed for a lerm of threeyears. In selecting individuals for appolntment a5 charity trustees. the charlty trustees must have regard lo the sknils. knowledge and experience needed for the effective administration of the organlsalion. Organlsatlonal structure The Trustees meet twi a year and all decisions are made or ralrfied al these meetings. d. Rlsk management The Trustees have assessed the Tisks towhich the Charity is exposed and systems have been put in p18ce lo miligale these risk8.
The Medway Mlsslon to Mariners Trustees roport (continued) For the year ended 5 April 2024 Trustees. responsibilities The Trustees 8re responsible for preparing the Annual Report and the financial statemonts in accordance with 8pplicable law and United Kingdom Generally Accepted Accounting Practice applicable lo smaller Charit. Law 8ppli¢able to Gharities in Englandlwales reqUIS the Trustees to prepare the financial slalemenls for each financial year which give a true and fair view of the st8le of affairs of the charity and of the income and application of resources for Ihal period. In preparing these financial statements the Truslees are required to: select suitable accountg lICIeS and then apply them consislenlly: obseNe the methods and principles in the Charilies SORP.. make judgements and aGtounting eslimales that are reasonable and prudent. prepare the financial statements on the going conc&m basis unless it is inapproprialeto assume that the charity wdl continue in operation.. The Trustees are responsiijle for keeping properaccounting records that are sufficientto show and explain the ¢h8rity's transactions and disclose wth reasonable accuracy al any15me the financial position of the charity and enable themto ensure Ihal the financial stalements Comply with the Charities Ael 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions oflhe Irusl deed. They are also responsible forsafeguarding the a55e15 of the charity and hence for taking reasonable Steps lor the prevention aftd deleclion of fraud and olher irregularities. This report was approved by the Tfustses on 21m November 2024 and signed on their behalf by-. Trustee Trustee
The Medway Mission to Mariners Independent examinerfs report For the year ended S April 2024 Independent examiner's report to the Trustees of Medway Mission to Mariners Trust (the 'Charity'} I report to the Charrty Trustees on my examination of the accounts of The Medway Mission to Seamen Trust for the year ended 5 April 2024. Responsibillties and basis of report As the Trustees of the Charity you are responsible forthe preparation ofthe accounts in accordance with the requirements of the Charities Act 2011 {'the Act.). I report in respect of my examination of the charity's accounts carried out under section 145 of the 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. Independent examinerfs statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the chanty as required by section 130 of the Act, or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fail view which is not a matter considered as part of an independent examination. I have no Goncerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. S Rouse FCCA DChA Kroston Reeves LLP Chartered Accountants Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU Dale '. 21 November 2024
The Medway Mlsslon to Mariners statement of financial activlties For the year ended 5 April 2024 Endowment Unrestricted Funds Funds 2024 Totsl 2023 Tolal Note Income and endowments Investments 28,590 28.590 28,020 Expenditure Cost of grant making Royal Naval Benevolent Trust for Pembroke House. Gillingham Hospital of Sir John Hawkins - Trainee Cadet5 - mental awareness Mission to Seafarers (6.500) (6,500) (12,500) (10,000) (10,000) (10,000) (2.224) (2,224) (2.500) (18,724) (18,724) (25.000) Charltable aGtlvitles Trustees exp8nsas - Annual retum fee Independent examinefs fee (744) (643) {131 (1,687} (744) (1,8471 (1,847) Cost of ralslng funds Exchange loss - Investment management costs (522) (522) 16.710) (21,315} 28,547) 134,2561 Total expendltUTe 7.2321 Net Incomellexpendlturel before gains and losses on investments 43 (6,2361 {7,232) 7,275 Net galns and losses on Investments 30.250 30.250 (92.906 Net movements In funds 23.018 7,275 30,293 (99,142) 904,592 Total funds brought forward 794.597 10,853 805,450 18,128 835.743 805,450 Total funds Carried forward 817.61S
The Medway Mlsslon to Mar(ners Balance sheèt For the year ended 5 April 2024 2024 Total Noto 2023 Total Fixed assets Investments 3 772.851 764.078 Current assets Cash at bank 66.427 44,717 Current Ilablllties Creditors (3,535) (3,345) Net current assets 62,892 41,372 Total assets 835,743 805,450 Represented by Endowment funds Capital fund 7 817.615 794.597 Unrestrlcted funds Income and expenditure account 18.128 10,853 835.743 805,450 Approved by the Board of Trust&s on 21 st November 2024 and slgned on Its behalf by Trustee Trustee
The Medway Mission to Marlners Nolgs to the flnancial statements For Ihe year ended S Aprfl 2024 1) Accounting poliGles Basi5 of preparation The financial statements have been prepared in accordance with Accounling and Reporting by Charities-. Statement of Recommended Practice applicable io charblies preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting . standard applicable in the Uniled Kingdom and Republic of Ireland IFRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Praclice. The financial statements have been prepared to give a'tDJe and fair, view and have departed from the Charities (Accounts and Fieports) Regulations 2008 only to the exlenl required to provide a 'lrue and fair vievl. This departure has involved following the Accounling and Reporting by Charities- Statement of ReGommended Pfaclice applicable lo chaTilies preparing their accounts wi accordance with the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland issued in October 2019 raihef than the Accounting and Reporting by Charities". Statement of Recommended Pradice effective from 1 April 2005 which ha5 since been withdrawn. The financial slatements are prepared on a going concern basis under the hisiorical Gosl convention. modified to include certain items al fair value. The financial stalemenls are presented in sterling which is the functional currency of the charity and rounded lo the nearesl pound. The Medway Mission lo Mariners ffinslilutes a public benefit enlity as defined by FRS 102. Funds Structure General funds are unrestnGted lunds which are available for use at Ihe dIScli0n of the Trustees in furtherance of the genernl objective5 of the charity and which have not been designated for olher purposes. Income All income is recognised once the charity has enlilleTnent to the income, it is probable that Ihe income wlll be received and the amounl of incorne receivable Gan be measured reliably. Income tax recoveTable in relalKJn to investment income ts recognised at the time the investment income is receivable. Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer eGonomiG benefit to a third paty. It is probable thal a transfer of economic benefits will be required in 5etllemenl and the amount of the obligation can be measured reliably." Charitable activities are costs incuTred on Ihe charity's operations. including support Gosts and costs relating to the govemance of the ¢harily apporiloned to chorilabie actiVitie$.
The Medway Mlssion lo Mariners Notss to the flnancial statements For the year ended 5 Aprll 2024 1) Accountlng pollclos {continued) Interest recelvable Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the Charity- this is normaliy upon notification of the inleresl paid or payable by the inslilulion with whom the furmls are deposited. Investments Fixed asset investments are a form offinanci81 inslrumentand are init1[Y recognlsed al Iheir transaction c05t and subsequenlly measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably In which case il is rneasud al cosl less impairment. Investment galns and k)5ses, whether realised or ijnrealised, are combined and shown in the heading 'Gainsl{10sses) on investments. in the Stslemenl of financial activities. Dèbtors Trade and other debtors are recognlsed al the Settlement amount after any trade discount offered. Prepayments are walued at the amount prepald net of any trade dk8counls due. Cash at bank and In hand Cash at bank and in hand indudes cash and short tem highly liquid investments wllh a short maturity of three months or less from the dale of acqulsition or opening of the deposit or similar account. Liablllties anfl provlslons Liabilities are recognised when there is an obligalion at the BalanGe sheetdate as a result of a past event. it is probable that a transfer ol economlG benefrt will be required in selllemenl, and the amount of the selllement Can be estimated reliably. Liabilities are recognised al Ihe amount that the charlty anliGipates il will pay to settle Ihe debt or the amount K has reGeived as advanced payments for the goods or services it mu51 provtde. Provisions are measured. at the besl estimate of the amounts required 10 5etl]e the obligation. Where the effect of the lime value of money is material. Ihe provision is based on the present value of those amounts, discounted al the pre-tax discount rale that fefle¢ts the risks specific lo the liability. The unwinding of the discount is recognised within inlerest payable and similar charges. Flnancial Instrum4nts The charily only has financial assets arKI ffinanclal liabilitles of a kind that qu811fy as baslc rinanclal instruments. Basic financi instruments are tnitial recogntsed attransaclion value and subsequently measured at their settlement value.
The Medway Mission to Marfnors Notes to the financlal ststements For the year ended 5 Aprll 2024 2) Investment Income 2024 2023 27,853 10 727 27.857 Dividends Donations Snterest 163 3} Investment Summary 2024 2023 Market value 6 April 2023 Acquis'rtions Disposals 81 opening market value Nel 9ains on revaluation Market value S April 2024 Hi¥torical wst S April 2024 764.078 70.143 195.683) 860.423 43,373 (59,8711 79 41 Cash at Bank 2024 2023 18.444 11.019 .Current account Charfes Slanley deposil 51 Crèditors 2024 2023 Accruals 61 Endowment Funds 2024 2023 Capital Fund Balanc8 brought toNard 6 April 2023 Loss on sales of investments Exchange loss Revalualion of investments Broker5 fees 794,597 {4.0631 {5221 34,313 894,416 {13.059J. 179.847) Balance carried fotward 5 Apnl 2024 10
The Medway Mission to Marlners Notes to tho financlal statements For Ihe year ended 5 Aprll 2024 71 Unrostrlcted Funds 2024 2023 Income and expendltUTe account Balance brought forward 6 April 2023 Surplusl{Def5Cit) for the year 10,853 10,176 Balance carried foNard 5 April 2024 9) Analysls of net assets belween funds Endowthenl Funds Unrestrlcted Funds Total Fund Balan¢as at 5 Aprll 2024 are represented by Investments Current assels Current liabilities 772,851 46.374 T12,851 66.427 JIL351 20,053 925 Total net assets. Unreallsed galns Included above On inve5tmenls 163 513 Total unreafised galns at 5 April 2024 Reconclliatlon of movements In unrea115ed galns on Investments Unrealised gains at 6 April 2023 In respect of disposals Gains on revaluations in the year 148.939 (19.739) 148,939 (19.7391 34 Unrealised galns at 5 April 2024 11
The Medway Mlsslon to Mariners Notes to the flnanclal staternents For the year endad 5 Aprll 2024 9) Trustees. remuneration and expenses Duiing the year. no Trustees received any remuneralion (2023 £Nil). During the year, no Trustee5 Teceived any benefits in kind (2023 £Nill. During Ihe year. 2 Trustees received re-irrt>UTsement ofexpenses amounting to £72012023 £643). 10) Related party transactlons The Charity has not entered into any significant related paty transactions during the year {2023 £Nil} and Ihere are no balance¥ oulslanding with any related parties al the Balance sheet date (2023 £Nil}. 12
rl kill °Il'l .,&É2J•o..._
10823¥=
c>* iiil!-Jl 14 1