``` REGISTERED CHARITY NUMBER: 1187012 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` AUDITED FINANCIAL STATEMENTS ``` ``` FOR THE YEAR ENDED 31 DECEMBER 2023 ``` ## **`FOR`** ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ``` Barrow LLP Statutory Auditor Chartered Accountants Jackson House Station Road Chingford London E4 7BU ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023`** |||**`Page`**|| |---|---|---|---| |**`Reference and Administrative Details`**||`1`|| |**`Report of the Trustees`**|`2`|`to`|`5`| |**`Report of the Independent Auditors`**|`6`|`to`|`7`| |**`Statement of Financial Activities`**||`8`|| |**`Statement of Financial Position`**||`9`|| |**`Statement of Cash Flows`**||`10`|| |**`Notes to the Financial Statements`**|`11`|`to`|`19`| ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ``` REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 ``` |**`TRUSTEES`**|`A J Scott-Barrett`| |---|---| ||`Professor T Beedham`| ||`A Knapp`| ||`D G Thomas (Chairman)`| ||`T J Palmer (Treasurer)`| ||`Dr V L C White`| ||`M M Denholm`| ||`Dr L Langmead`| |**`PRINCIPAL ADDRESS`**|`The Royal London Hospital`| ||`Whitechapel`| ||`London`| ||`E1 1BB`| |**`REGISTERED CHARITY NUMBER`**|`1187012`| |**`INDEPENDENT AUDITORS`**|`Barrow LLP`| ||`Statutory Auditor`| ||`Chartered Accountants`| ||`Jackson House`| ||`Station Road`| ||`Chingford`| ||`London`| ||`E4 7BU`| |**`BANKERS`**|`Coutts & Co`| ||`440 Strand`| ||`London`| ||`WC2R 0QS`| |**`SOLICITORS`**|`Latham & Watkins (London) LLP`| ||`99 Bishopsgate`| ||`London`| ||`EC2M 3XF`| |**`INVESTMENT MANAGERS`**|`CCLA Investment Management Limited`| ||`One Angel Lane`| ||`London`| ||`EC4R 3AB`| ||`Walker Crips Stockbrokers Limited`| ||`Old Change House`| ||`128 Queen Victoria Street`| ||`London, EC4V 4BJ`| ``` Page 1 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`** ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31 December2023.Thetrustees have adoptedthe provisionsof Accountingand Reportingby Charities;Statementof RecommendedPracticeapplicableto charities preparing theiraccountsin accordancewiththeFinancialReportingStandardapplicablein theUK andRepublicof Ireland(FRS102)(effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Purpose and Aims`** ``` TheCharity'spurposesareto provideandadministersuchreliefandaidforpatientsat,or whohavebeendischargedfrom,the Royal LondonHospital,thatdoesnotfallwithinthescopeoftheNationalHealthService.TheaimoftheCharityistocontinueto render assistance, directly and indirectly, to as many such patients as possible and thus to further its charitable purposes for the public benefit. ``` ## **`Ensuring our work delivers this aim`** ``` ThetrusteesregularlyreviewthisaimandtheoutcomesoftheCharity'sactivity,assessingtheprogressofeachactivityand the benefitsprovidedto the groupsand individualsbeinghelped.Such reviewsenablethe trusteesto be satisfiedthatthe various activities remainfocussedonthestatedpurposesoftheCharity.DuenotehasbeentakenoftheCharityCommission'sgeneralguidance on public benefit in these reviews and in planning future activities. ``` ``` Such futureactivitieswill usuallyinvolvethe makingof grantsto otherlocal organisationsthat renderassistance,directlyor indirectly, to patientsof the RoyalLondonHospital.The trusteeswill onlysanctionsuchgrantsif adequateinformationis obtainedwhen considering grant requests and that appropriate reporting will be provided subsequent to a grant being made. ``` ``` TrusteesareintheprocessofremovingthelinkedcharitiesfromtheCharitiesCommissionregisterwiththeassistanceof legal advisors. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` AlloftheSociety'scharitableactivitiesfocusonprovidingcareandsupport,directlyandindirectly,forpatientsat,orwhohave been dischargedfrom,theRoyalLondonHospital,andthatis deemedto be outsidethescopeof theNationalHealthService.This includes tangiblesupportfor individualsor for groupsof patients,or by way of grantsto local organisationsthat providecare for them.Grants are also made from time to time to support developments in clinical care that directly benefit patients. ``` ``` The circumstancesimpactingthe Hospitaland its patientsin 2023 continuedto be affectedby the coronaviruspandemicof the previous years& staffingchallenges.However,therewere no requestsfor one-offfinancialassistancefrom withinthe Hospitalcommunity during the year. ``` ``` Althoughthefacilitiesat JamesHoraHomewerewithdrawnforself-caringpatientsandrelativesof patientsas thepandemictook hold in 2020, the Societycontinuedto honourits agreementto fund any domesticrequirementsin the Home and made its usual payments to the NHS Trusttowardsstaffingcosts.During2023,the overnightfacilitiesof the Homewereutilisedrathermorethanin the previous 3 years, though take up by patients or relatives proved to be somewhat lower than had been the case in the years before the pandemic. ``` ``` Earlyin 2023,contactwasmadewiththeSickChildren'sTrust(SCT),foundedin 1982andcurrentlymanagingtenhomesaround the countryforfamilieswherea childis currentlyseriouslyill in hospital.One suchfacilityis StevensonHouse,a nearneighbourof James HoraHomeinWhitechapel,providingovernightanddaytimeaccommodationforfamilies.StevensonHousehas16family bedrooms pluscommunalareasandcelebratedtwentyyearsof operationin December2023.An applicationfora grantwasmadeby SCTto the Society to assist the funding of Stevenson House, and the sum of £20,000 was donated in response. ``` ``` The 'Routesto Roots'project(R2R)operatedby ProvidenceRow (PR) in liaisonwith the HospitalPathwaysTeamat RLH continued to carryoutitsvaluableroletoprevent,asfaraspossible,homelesspatientsoftheHospitalbeingdischargedbackontothestreets of London-despitethePRteambeingshort-staffedforpartoftheyear.Theprojectalsoservestoreducere-admissionratesto the Hospital.TheSocietymakesa grantto PR to fundsomeof thestaffingcostsof theproject,anditstrusteesreceivehalf-yearly reports settingoutnumbersofpatientsreceivingassistanceandsample(anonymous)casestudies.Thegrantmadein2023undera 1-year agreementfrom1st April2022togetherwitha new 3-yearagreementfrom1st April2023amountedto £86,078.In addition,the sum of £17,500wasalsograntedtoPRforassistingR2Rclientswithminorcoststoassistwithrehabilitationgiventheirlackof financial resources.RegularstatementsarereceivedfromPRsettingouttheamountsandcircumstancesoftheindividualpaymentsmade to their clients. ``` ``` An applicationfora grantto assistthetherapeuticactivitiesof theChildren'sBrainInjuryTrust(CBIT)withintheHospitalwas received and considered, resulting in a donation of £10,000 to CBIT for that specific purpose. ``` ``` Page 2 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`** ``` Duringthe year,the Societyalso made grantstotalling£20,452to assistpatientsof the Hospitalin 89 cases.In addition,grants totalling £44,272 were made to local organisations who support RLH patients in various ways, as follows: ``` - `Tower Hamlets Mission £10,000` - `City and East London Bereavement Service £ 20,000` - `Griffin Community Trust £10,000` - `RLH League of Nurses (Past & Present Nurses) £ 3,272` - `TB Outreach (Mile End Hospital) £1,000` ## **`FINANCIAL REVIEW`** ``` TheSocietyhassetoutFinancialStatementsinaccordancewiththecurrentStatementofRecommendedPractice(SORP).In the opinion of the Trustees, there are sufficient funds to permit the Society to operate in the long term. ``` ## **`Reserves Policy`** ``` At 31stDecember2023 the Society'sassetsamountedto £17,130,012(2022- £16,250,168).The increasein the valueof the Society's assetsovertheyearistheresultofgrowthinthevalueofitsinvestments,togetherwithanexcessofincomeovercashoutgo of £76,142 over that period. ``` ``` InvestmentsformasubstantialpartoftheSociety'sreservesand,asstatedbelow,aremanagedbyanindependent investment manager.The trusteesare responsiblefor settinginvestmentpolicyand for monitoringthe performanceof the investmentportfolio. The currentpolicyaimstopreservetherealvalueoftheinvestmentsovertimeaswellasgeneratinganappropriatelevelofincome each year.Careis takento ensurethatthereis alwayssufficientliquidityto fundgrantsand administrativeexpensesfor a reasonable period if investment conditions deteriorate significantly. ``` ``` As at 31st December2023,£1,327,771was held as cash,of which£100,000was investedin the investmentmanager'sCOIF Charities DepositFund (CDF).The balanceof £1,227,771was cash held at the Society'sbankers,to be used for charitableactivitiesand objects thatfallwithintheSociety'sremit.Assuch,thislattersumrepresentedinexcessofthreetimesthelevelofcashoutgo(grants and expenses)in2023.Thetrusteesaimtoensurethatcashreadilyavailablealwaysexceedsoneyear'slikelyoutgo.Thetrustees are holding more cash at present as there is some uncertainty about the Society's cash requirements over the next year or so. ``` ## **`Investment Policy`** ``` TheSociety'sconstitutionasa CIOauthorisesthetrusteestomakeandalterinvestmentsusingtheCommonInvestmentFundof the CIO.Hitherto,aportfolioofquotedsecuritieshasbeenmanagedbyanindependentprofessionalfundmanagerusingan appropriate nomineecompany.Foravarietyofreasons,achangeinthesearrangementswasmadeduring2023.Afterconsiderationof the alternativesand presentationsmade by three potentialinvestmentmanagersCCLA were appointedto managethe Society's investment inunitsintheirfundsdesignedforcharities.TheSociety'sinvestmentsmanagedbyCCLAcurrentlycompriseincomeunitsin the Charities Investment Fund (CIF) and the Charities Deposit Fund (CBF). ``` ``` The objectives set for the former fund manager (WC) at the beginning of 2023 were as follows: ``` ``` Targetannualincomeof at least £450,000,and a total return(afterfees) over rolling3-yearperiodsand longerof at least 3% pa greater thanCPIinflationoverthecorrespondingperiods.Theperformanceoftheportfolioisalsomeasuredagainstthatofan arbitrary benchmark of 52.5% UK equities, 20% overseas equities, 25% UK fixed interest and 2.5% cash. ``` ``` Duringthe first half of 2023, the investmentmanagerachieveda return(as calculatedby PortfolioEvaluationLimited)of 1.5% compared to thebenchmarkreturnof 2.2%.Overtenyearstheinvestmentmanagerhadachievedan annualisedreturnof 7.0%pa,compared to the benchmark return of 6.0%pa. ``` ``` Theformerfundmanagerscompliedwithgeneralguidanceonassetmixforinvestmentsandcashsumsheld,andtrustees express their thanks to them for undertaking this important role for the Society over many years with good results. ``` ``` Page 3 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`** ``` TheobjectivessetbyCCLAforCIFaretoprovidea totalreturn(growthin capitalandincome)overthelong-term(definedas5 years plus).TheCIF'slong-termperformancecanbeassessedbyreferringtothetargetbenchmark,theconsumerpriceindexplus 5%pa (beforethe deductionof costs and charges).The CIF uses a 'total return'approachwhich means that, for the incomeunits,some part of theincomedistributionmaybe paidfromcapital(ifthereis notenoughincomefromtheunderlyinginvestments).Thecurrent forecast incomeyieldis suchthattheSociety'strusteesexpectthattheannualincomegeneratedshouldcurrentlybe similaras recentlyset for thepreviousmanagers,namelyaround£450,000.Thearbitrarybenchmarkdescribedabovetoreviewtheprevious investment manager's returns will no longer apply. ``` ``` In 2023, the investment portfolio generated income of £448,094, which is closely aligned with the income generated in 2022 (£448,321). ``` ``` Duringthesecondhalfof2023,astheportfoliowasbeingtransitionedfromWCtoCCLA,itisestimatedthatthefund's investment returnon the assetsmanagedby WC and on the investmentsin the CIF was 6.1%.Thus,the estimatedreturnover the year was 7.7%. CPI over the year was 4.0%. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Legal Status and Governance`** ``` The Societyis now a CharitableIncorporatedOrganisation(CIO),having previouslyoperatedfor many years as a CharitableTrust (CT). The Societyhad 7 trusteeson the inceptionof the CIO in December2019,each of whomhad eitherbeen a trusteeof the formerCT or been a memberof its ManagementCommittee.Trusteesare appointedin the lightof theirknowledgeand experienceof the health and socialcaresectors,particularlyinEastLondon,oroftheirexpertiseinfinancialandinvestmentmattersorofthelegaland regulatory environment for charities. ``` ``` A formalmeetingof trusteeswas held on 17th July 2023 to approvethe Society'sReportand Accountsfor 2022, to receivereports from organisationsin receiptof grantsduringthatyearandto considerfurthergrantapplicationsfor2023.Trusteesalsometon 27th March 2023and20thNovember2023toconsider(interalia)theSociety'sfinancialposition(includinginvestments),thesituation regarding JamesHoraHomeandparticularneedsarisingwithinandaroundtheRoyalLondonHospital,itsstaffandpatients,in theaftermath of the coronavirus pandemic. ``` ``` As describedin theFinancialReviewabove,duringtheyearthetrusteesdecidedto changethenatureof theinvestmentsheldfrom a portfolio of direct securities to units in funds and to change the investment manager from Walker Crips (WC) to CCLA. ``` ## **`Trustees`** ``` Asindicatedabove,theSociety'strusteesheld3meetingsduring2023.AttheNovembermeetingTrevorBeedham,Veronica White and Timothy Palmer were re-appointed as trustees for a further 3 years following completion of their 3-year terms. ``` ## **`Risk Statement`** ``` ThetrusteesreviewtheriskstheSocietyfaceson a regularbasisandhasa RiskAssessmentwithmitigatingcontrolsandactions that is also reviewed regularly. ``` ``` The principal risks to which the Society is exposed and a brief description of the mitigations are: - ``` ## **`Risk Mitigation`** ``` Governance:-theriskthattheSocietydoesnotachieve itsTheSocietyhasa diversetrusteeBoardthathasthe necessary charitable,regulatoryandethicalobjectivesdueto inadequateskills to provide good oversight and governance of the Society. governance. ``` ``` Investment:-TheriskthattheSociety'smonies areTheSocietyappointsexternal,qualifiedand regulated mismanagedorfailtoprovidetheresourcesrequiredto meetinvestmentmanagerswhoaresubjecttoregularreview. The the Society's objectives.Societyaims to have cash, short term depositsor money market investments sufficient to meet one year's expected expenditure. ``` ``` Fraudand FinancialCrime:- Theriskthatthe Societyis subjectTheSocietyhasaFraudPolicythatisregularlyreviewed and to fraud or other financial crimes.describes the policy and procedures to minimise this risk. ``` ## **`TRUSTEES' RESPONSIBILITY STATEMENT`** ``` ThetrusteesareresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicable law andUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccountingPractice)includingFinancial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". ``` ``` Page 4 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`TRUSTEES' RESPONSIBILITY STATEMENT - continued`** ``` The law applicableto charitiesin Englandand Wales,the CharitiesAct 2011, Charity(Accountsand Reports)Regulations2008 and the provisionsof thetrustdeedrequiresthetrusteesto preparefinancialstatementsforeachfinancialyearwhichgivea trueandfair view of the state of affairsof the charityand of the incomingresourcesand applicationof resources,includingthe incomeand expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to ``` - `select suitable accounting policies and then apply them consistently;` - `observe the methods and principles in the Charity SORP;` - `make judgements and estimates that are reasonable and prudent;` - `state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;` - `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.` ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytimethe financial positionofthecharityandtoenablethemtoensurethatthefinancialstatementscomplywiththeCharitiesAct2011,the Charity (Accountsand Reports)Regulations2008 and the provisionsof the trustdeed. They are also responsiblefor safeguardingthe assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ``` ``` Approved by order of the board of trustees on 2 August 2024 and signed on its behalf by: ``` ``` D G Thomas - Trustee ``` ``` Page 5 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`Opinion`** ``` We haveauditedthe financialstatementsof TheMarieCelesteSamaritanSociety(the'charity')for the yearended31 December 2023 which comprisethe Statementof FinancialActivities,the Statementof FinancialPosition,the Statementof Cash Flowsand notesto the financialstatements,includinga summaryof significantaccountingpolicies.Thefinancialreportingframeworkthathasbeenapplied in theirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAccepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. ``` ``` In our opinion the financial statements: ``` - `give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended;` - `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and` - `have been prepared in accordance with the requirements of the Charities Act 2011.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthefinancial statements sectionof our report.We are independentof the charityin accordancewith the ethicalrequirementsthat are relevantto our audit of the financialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourotherethicalresponsibilities in accordancewiththeserequirements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccountingin the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsorconditions that, individuallyor collectively,may cast significantdoubt on the charity'sabilityto continueas a going concernfor a periodof at least twelve months from when the financial statements are authorised for issue. ``` ``` Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedintherelevantsectionsof this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.TheotherinformationcomprisestheinformationincludedintheAnnual Report, other than the financial statements and our Report of the Independent Auditors thereon. ``` ``` Our opinionon the financialstatementsdoesnot coverthe otherinformationand,exceptto the extentotherwiseexplicitlystatedin our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso, consider whetherthe otherinformationis materiallyinconsistentwith the financialstatementsor our knowledgeobtainedin the audit or otherwise appearsto be materiallymisstated.If we identifysuchmaterialinconsistenciesor apparentmaterialmisstatements,we arerequired to determinewhetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedontheworkwe have performed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.We have nothing to report in this regard. ``` ## **`Matters on which we are required to report by exception`** ``` We have nothingto reportin respectof the followingmatterswherethe Charities(Accountsand Reports)Regulations2008 requires us to report to you if, in our opinion: ``` - `the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or` - `sufficient accounting records have not been kept; or` - `the financial statements are not in agreement with the accounting records and returns; or` - `we have not received all the information and explanations we require for our audit.` ``` Page 6 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`Responsibilities of trustees`** ``` AsexplainedmorefullyintheTrustees'ResponsibilitiesStatement,thetrusteesareresponsibleforthepreparationofthe financial statementswhichgiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermineisnecessarytoenable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueasagoing concern, disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessthetrustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ``` ## **`Our responsibilities for the audit of the financial statements`** ``` WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewiththeActand relevant regulations made or having effect thereunder. ``` ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrom material misstatement,whetherdueto fraudor error,andto issuea Reportof theIndependentAuditorsthatincludesouropinion. Reasonable assuranceis a high level of assurance,but is not a guaranteethat an audit conductedin accordancewith ISAs (UK) will alwaysdetect a materialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorin the aggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthese financial statements. ``` ``` The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ``` ``` - Discussionswith the trusteesand management,includingconsiderationof knownor suspectedinstancesof non-compliancewith laws and regulation and fraud; ``` - `Evaluation of management's internal controls designed to prevent and detect irregularities;` - `Reading key correspondence with the Charity Commission in relation to compliance with laws and regulations;` - `Reviewing relevant meeting minutes;` ``` - Procedures relating to the valuation of investments and vouching with third party confirmations. ``` ``` - Identifyingand testingjournalentries,in particularany journalentriespostedwith unusualaccountcombinationsimpacting revaluation; and ``` ``` - Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing. ``` ``` AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancialReporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ``` ## **`Use of our report`** ``` Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithPart4oftheCharities(Accountsand Reports) Regulations2008.Our auditwork has been undertakenso that we mightstateto the charity'strusteesthosematterswe are required to statetotheminanauditors'reportandfornootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptor assume responsibilityto anyoneotherthan the charityand the charity'strusteesas a body,for our auditwork,for this report,or for the opinions we have formed. ``` ``` Barrow LLP Statutory Auditor Chartered Accountants Jackson House Station Road Chingford London E4 7BU ``` ``` 2 August 2024 ``` ``` Page 7 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
`Investment income`
`4`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`5`
**`Charitable activities`**
`6`
`General`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**
**`CONTINUING OPERATIONS`**|`31.12.23`
`Unrestricted`
`fund`
`£`
`11,722`
`448,094`
`459,816`
`170,237`
`213,437`
`383,674`
`803,702`
`879,844`
`16,250,168`
`17,130,012`|`31.12.22`
`Total`
`funds`
`£`
`3,555`
`448,321`
`451,876`
`207,151`
`166,306`
`373,457`
`(1,391,373)`
`(1,312,954)`
`17,563,122`
`16,250,168`| |---|---|---| ``` All income and expenditure has arisen from continuing activities. ``` ``` The notes form part of these financial statements ``` ``` Page 8 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023`** |`Notes`
**`FIXED ASSETS`**
`Investments`
`12`
**`CURRENT ASSETS`**
`Debtors`
`13`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`14`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`CREDITORS`**
`Amounts falling due after more than one year`
`15`
**`NET ASSETS`**
**`FUNDS`**
`16`
`Unrestricted funds`
**`TOTAL FUNDS`**|`31.12.23`
`Unrestricted`
`fund`
`£`
`15,816,764`
`431,147`
`1,327,771`
`1,758,918`
`(228,175)`
`1,530,743`
`17,347,507`
`(217,495)`
`17,130,012`
`17,130,012`
`17,130,012`|`31.12.22`
`Total`
`funds`
`£`
`14,614,344`
`636,027`
`1,601,321`
`2,237,348`
`(214,722)`
`2,022,626`
`16,636,970`
`(386,802)`
`16,250,168`
`16,250,168`| |---|---|---| |||`16,250,168`| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon2August2024andweresignedon its behalf by: ``` ``` D G Thomas - Trustee ``` ``` T J Palmer - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 9 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`18`
`Net cash used in operating activities`
**`Cash flows from investing activities`**
`Purchase of fixed asset investments`
`Sale of fixed asset investments`
`Interest received`
`Dividends received`
`Net cash provided by investing activities`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
**`Cash and cash equivalents at the beginning of`**
**`the reporting period`**
**`Cash and cash equivalents at the end of the`**
**`reporting period`**|`31.12.23`
`£`
`(322,926)`
`(322,926)`
`(14,813,703)`
`14,414,985`
`1,600`
`446,494`
`49,376`
`(273,550)`
`1,601,321`
`1,327,771`|`31.12.22`
`£`
`(326,963)`
`(326,963)`
`(1,650,374)`
`1,355,693`
`1,135`
`447,186`
`153,640`
`(173,323)`
`1,774,644`
`1,601,321`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 10 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` The financialstatementsof the charity,whichis a publicbenefitentityunderFRS 102,havebeenpreparedin accordance with theCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of Ireland(FRS102)(effective1 January2019)',FinancialReportingStandard102'TheFinancialReportingStandard applicable in the UK and Republicof Ireland'and the CharitiesAct 2011. The financialstatementshave been preparedunder the historical cost convention,with the exceptionof investmentswhich are includedat marketvalue,as modifiedby the revaluationof certain assets. ``` ``` TheCharityconstitutesa publicbenefitentityasdefinedbyFRS102andis registeredbyTheCharityCommissionof England andWalesundera TrustDeed.Thecharity'sregisterednumberandregisteredofficecanbe foundon thegeneral information page 1. The presentation currency of the financial statements is the Pound Sterling (£). ``` ## **`Income`** ``` AllincomingresourcesareincludedintheStatementofFinancialActivities(SoFA)whenthecharityislegallyentitledto the incomeafteranyperformanceconditionshavebeenmet,theamountcanbemeasuredreliably,anditisprobablethat the income will be received. ``` ``` Subscriptions and deposit interest are credited when due, voluntary income, donations and legacies when received. ``` ## **`Expenditure`** ``` All expenditureis accountedfor on an accrualsbasis and has been classifiedunder headingsthat aggregateall costs related to the category.Expenditureis recognisedwherethereis a legalor constructiveobligationto makepaymentsto thirdparties,it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. ``` ``` Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. ``` ``` Grantspayabletothirdpartiesarewithinthecharitableobjectives.Whereunconditionalgrantsareoffered,thisisaccrued as soonastherecipientisnotifiedofthegrant,asthisgivesrisetoareasonableexpectationthattherecipientwillreceive the grants.Wheregrantsare conditionalrelatingto performancethenthe grantis onlyaccruedwhenany unfulfilledconditions are outside of the control of the charity. ``` ``` It is the Society'spolicy to allow one year from the date of approvalfor grantsto be claimed.If the grantsare not claimed within this time limit then they are withdrawn. ``` ``` Grantsofferedsubjectto conditionswhichhave not been met at the year end date are notedas a commitmentbut not accrued as expenditure. ``` ## **`Support and governance costs allocation`** ``` Supportcostsarethosethatassisttheworkofthecharitybutdonotdirectlyrepresentcharitableactivitiesandinclude office costs,governancecosts,administrativeand payrollcosts.They are incurreddirectlyin supportof expenditureon the objects of the charity.Where supportcostscannotbe directlyattributedto particularheadingsthey have been allocatedto expenditure on charitableactivitieson a basis consistentwith use of the resources.An allocationof 70% tograntspayableand 30% to directly provided services has been used. ``` ## **`Tangible fixed assets`** ``` Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ``` ``` Development costs ``` ``` - over the term of the lease ``` ## **`Taxation`** ``` The charity is exempt from tax on its charitable activities. ``` ## **`Structure of funds`** ``` Unrestrictedincomefundscomprisethosefundswherethe donorhas not issueda specificrequestfor whichthe funds should be used. These funds may then be used for any purposein furtheranceof the charitableobjects.Unrestrictedfunds can include designatedfundswhereadonormayhavemadeanon-bindingrequest,orthetrusteeshavecreatedafundfora specific purpose. ``` ``` Page 11 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`1. ACCOUNTING POLICIES - continued`** ## **`Structure of funds`** ``` Wherethereis a legalrestriction,or one imposedby the donoron the purposeto whichfundsmaybe put,theyare treated as restrictedfunds.Fundswherethecapitalisheldtogenerateincomeforcharitablepurposesandcannotthemselvesbe spent areaccountedforasendowmentfunds.Thecharityhadnoendowmentfundsduringthefinancialyear.Otherfunds are classified as unrestricted funds. ``` ## **`Management and administration expenditure`** ``` Expenditureonmanagementandadministrationofthecharityincludesallexpenditurenotdirectlyrelatedtothe charitable activity. This includes the day to day running of the charity, audit fees and administrative staff salaries. ``` ## **`Fixed assets investments`** ``` Investments are stated at their fair value. Movements in fair value are recognised in the Statement of Financial Activities. ``` ``` Thesociety'sinvestmentpolicyistopreserveandincreasethecapitalbasewhilstprovidingasignificant,sustainable income forthesociety.TheappointedfundmanagerisCCLAandthefinancecommitteeregularlyreviewtheperformanceof the Charities Official Investment Fund (COIF) in which the capital is invested. ``` ## **`Interest receivable`** ``` AnycashbalancewhichexceedsthemonthlyworkingrequirementisdepositedinCCLA'sinterestbearingCharities Deposit Fund.InterestonfundsheldinbankdepositaccountsandtheCOIFcharitiesdepositaccountsareincludedwhen receivable and the amountcan be measuredreliablyby the charity;this is normallyupon notificationof the interestpaid or payableby the bank. ``` ## **`Realised gains and losses`** ``` All gainsand lossesare takento the Statementof FinancialActivitiesas theyarise.Realisedgainsand losseson investments arecalculatedonthedifferencebetweensaleproceedsandopeningmarketvalue(ordateofpurchaseiflater). Unrealised gainsandlossesoninvestmentsarecalculatedasthedifferencebetweenmarketvalueattheyear-endandopening market value (or date of purchase if later). ``` ``` In accordance with the new SORP 2015 (FRS102), the net gains and losses are shown under the heading for expenditure. ``` ## **`Debtors and creditors receivable / payable within one year`** ``` Debtorsandcreditorswithno statedinterestrateandreceivableorpayablewithinoneyeararerecordedattransaction price. Any losses arising from impairment are recognised in expenditure. ``` ## **`Pension`** ``` The Societypreviouslycontributedto a definedbenefitPensionSchemefor certainformeremployees.The Schemewas closed to new membersand futurebenefitaccrualsseveralyears ago. Accruedbenefitswere subsequentlysecuredthrougha buy-out byaninsurer,eliminatingtherequirementforfurthercontributionsfromtheSocietyandremovinganyresidualriskfor the Society. ``` ``` FormeremployeeswhoweremembersoftheSchemenowreceivebenefitsdirectlyfromtheinsurer.Thesebenefits were lowerthanoriginallyanticipatedwhentheSchemewasactive.Tomitigatethereductioninexpectedbenefits,the Trustees havemadeadditional'ex-gratia'pensionpayments.Intheyearended31December2023,thesepaymentsamounted to £41,460 (including taxes). ``` ``` TheSocietynolongeremploysanystaff,andnocontributionshavebeenmadetoanypensionschemeduringthe period coveredbythesefinancialstatements.The'ex-gratia'paymentsarereviewedannuallytoassesswhetherfurthersupport is required for former employees receiving reduced benefits from the insurer. ``` ## **`Going concern`** ``` ThetrusteesconsiderthattherearenomaterialuncertaintiesabouttheSociety'sabilitytocontinueasagoing concern. Therefore,thefinancialstatementshavebeenpreparedonagoingconcernbasis.Thetrusteeshaveconsideredthelevel of fundsheldandtheexpectedlevelofincomeandexpenditurefor12monthsfromauthorisingthesefinancialstatements. The budgetedincomeandexpenditurearesufficientwiththelevelofreservesforthecharitytobeabletocontinueasa going concern. ``` ``` Page 12 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY`** ``` Withrespectto the nextreportingperiod2024,the mostsignificantareaof uncertaintythataffectsthe carryingvalueof assets heldbytheSocietyarethelevelofinvestmentreturnparticularlyfrominvestmentincomeandtheperformanceof investment markets(seetheinvestmentpolicyandperformanceandriskmanagementsectionsofthetrustees'annualreportfor more information). ``` ## **`3. DONATIONS AND LEGACIES`** ## **`4.`** ## **`5.`** |**`DONATIONS AND LEGACIES`**||| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Donations`|`11,722`|`3,555`| |**`INVESTMENT INCOME`**||| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Investment income`|`446,494`|`447,186`| |`Deposit account interest`|`1,600`|`1,135`| ||`448,094`|`448,321`| |**`RAISING FUNDS`**||| |**`Raising donations and legacies`**||| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`James Hora Home (JHH)`|`80,607`|`80,171`| |`Depreciation`|`-`|`31,850`| |`Support costs`|`38,858`|`38,873`| ||`119,465`|`150,894`| |**`Investment management costs`**||| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Portfolio management`|`46,606`|`45,908`| |`Investment advice`|`3,851`|`7,364`| |`Safe custody`|`315`|`2,985`| ||`50,772`|`56,257`| |`Aggregate amounts`|`170,237`|`207,151`| ``` Page 13 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`6. CHARITABLE ACTIVITIES COSTS`** |**`6.`**|**`CHARITABLE ACTIVITIES COSTS`**|||| |---|---|---|---|---| |||`Grant`||| |||`funding of`||| |||`activities`|`Support`|| |||`(see note`|`costs (see`|| |||`7)`|`note 8)`|`Totals`| |||`£`|`£`|`£`| ||`General`|`196,782`|`16,655`|`213,437`| |**`7.`**|**`GRANTS PAYABLE`**|||| ||||`31.12.23`|`31.12.22`| ||||`£`|`£`| ||`General`||`196,782`|`149,646`| ||`The total grants paid to institutions during the year was as follows:`|||| ||||`31.12.23`|`31.12.22`| ||||`£`|`£`| ||`The Tower Hamlets Mission`||`10,000`|`8,500`| ||`The City and East London Bereavement Service`||`20,000`|`25,000`| ||`The Griffin Community Trust`||`10,000`|`10,000`| ||`Providence Row`||`102,058`|`87,325`| ||`Past & Present Nurses`||`3,272`|`3,272`| ||`TB Outreach`||`1,000`|`-`| ||`Sick Children Trust`||`20,000`|`-`| ||`Child Brain Injury Trust (CBIT)`||`10,000`|`-`| ||||`176,330`|`134,097`| ||`The total grants paid to individuals during the year was as follows:`|||| ||||`31.12.23`|`31.12.22`| ||||`£`|`£`| ||`Clothing fund`||`600`|`1,050`| ||`Samaritan help`||`19,852`|`14,499`| ||||`20,452`|`15,549`| |**`8.`**|**`SUPPORT COSTS`**|||| ||||`Governance`|| |||`Management`|`costs`|`Totals`| |||`£`|`£`|`£`| ||`Raising donations and legacies`|`2,161`|`36,697`|`38,858`| ||`General`|`927`|`15,728`|`16,655`| |||`3,088`|`52,425`|`55,513`| ``` Page 14 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`8. SUPPORT COSTS - continued`** ``` ActivityBasis of allocation ManagementAn allocation of 70% to grants payable and 30% to directly provided services. Governance costsAn allocation of 70% to grants payable and 30% to directly provided services. ``` ``` Support costs, included in the above, are as follows: ``` ||||`31.12.23`|`31.12.22`| |---|---|---|---|---| ||`Raising`|||| ||`donations`|||| ||`and`||`Total`|`Total`| ||`legacies`|`General`|`activities`|`activities`| ||`£`|`£`|`£`|`£`| |`Self employed costs`|`1,647`|`706`|`2,353`|`2,172`| |`Insurance`|`320`|`137`|`457`|`447`| |`Postage and stationery`|`131`|`57`|`188`|`201`| |`Sundries`|`63`|`27`|`90`|`151`| |`Pensions - Past employees`|`29,022`|`12,438`|`41,460`|`40,172`| |`Auditors' remuneration`|`7,507`|`3,218`|`10,725`|`12,150`| |`Auditors' remuneration for non audit work`|`168`|`72`|`240`|`240`| ||`38,858`|`16,655`|`55,513`|`55,533`| ## **`9. TRUSTEES' REMUNERATION AND BENEFITS`** ``` The trustees neither received nor waived any remuneration during the year. ``` ``` The trustees did not have any expenses reimbursed during the year. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ``` ## **`10. STAFF COSTS`** ``` The average monthly number of employees during the period was Nil. ``` ``` No employees received emoluments in excess of £60,000. ``` ## **`11. TANGIBLE FIXED ASSETS`** |**`TANGIBLE FIXED ASSETS`**|| |---|---| ||`Development`| ||`costs`| ||`£`| |**`COST`**|| |`At 1 January 2023 and 31 December 2023`|`627,626`| |**`DEPRECIATION`**|| |`At 1 January 2023 and 31 December 2023`|`627,626`| |**`NET BOOK VALUE`**|| |`At 31 December 2023`|`-`| |`At 31 December 2022`|`-`| ``` The above represents the society's capital contribution to the NHS Trust for the refurbishment of Horace Evans House. ``` ``` Page 15 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`12. FIXED ASSET INVESTMENTS`** |**`MARKET VALUE`**
`At 1 January 2023`
`Additions`
`Disposals`
`Revaluations`
`At 31 December 2023`
**`NET BOOK VALUE`**
`At 31 December 2023`
`At 31 December 2022`|`Listed`
`investments`
`£`
`14,614,344`
`14,813,703`
`(14,414,985)`
`803,702`
`15,816,764`
`15,816,764`
`14,614,344`| |---|---| ``` The fundsare investedin the CharitiesOfficialInvestmentFund(COIF).The charityheld797,015.09unitsin CCLA's Charities Investment Fund Income Units at 31 December 2023 which are stated at fair value. ``` ``` The Society does not have any material investment holdings that require separate disclosure. ``` ``` Cost or valuation at 31 December 2023 is represented by: ``` |`Valuation in 2019`
`Valuation in 2020`
`Valuation in 2021`
`Valuation in 2022`
`Valuation in 2023`
**`DEBTORS`**
`31.12.23`
`£`
`Amounts falling due within one year:`
`Grants prepaid`
`210,880`
`Other debtors`
`-`
`Accrued investment income`
`2,772`
`213,652`
`Amounts falling due after more than one year:`
`Grants prepaid`
`217,495`
`Aggregate amounts`
`431,147`|`Listed`
`investments`
`£`
`12,828,088`
`1,207,879`
`1,675,069`
`(1,096,692)`
`1,202,420`
`15,816,764`
`31.12.22`
`£`
`184,560`
`555`
`64,110`
`249,225`
`386,802`
`636,027`| |---|---| ## **`13. DEBTORS`** ``` Page 16 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Grants payable`
`Taxation and social security`
`Other creditors`
**`15.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Grants payable`
**`16.`**
**`MOVEMENT IN FUNDS`**
`At 1.1.23`
`£`
**`Unrestricted funds`**
`General fund`
`16,250,168`
**`TOTAL FUNDS`**
`16,250,168`
`Net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`459,816`
`(383,674)`
**`TOTAL FUNDS`**
`459,816`
`(383,674)`|`31.12.23`
`£`
`193,008`
`692`
`34,475`
`228,175`
`31.12.23`
`£`
`217,495`
`Net`
`movement`
`in funds`
`£`
`879,844`
`879,844`
`Gains and`
`losses`
`£`
`803,702`
`803,702`|`31.12.22`
`£`
`169,032`
`643`
`45,047`
`214,722`
`31.12.22`
`£`
`386,802`
`At`
`31.12.23`
`£`
`17,130,012`|`31.12.22`
`£`
`169,032`
`643`
`45,047`
`214,722`
`31.12.22`
`£`
`386,802`
`At`
`31.12.23`
`£`
`17,130,012`| |---|---|---|---| |||`17,130,012`|| |||`Movement`
`in funds`
`£`
`879,844`
`879,844`|| ||||`879,844`| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.22`
`£`
`17,563,122`
`17,563,122`|`Net`
`movement`
`in funds`
`£`
`(1,312,954)`
`(1,312,954)`|`At`
`31.12.22`
`£`
`16,250,168`| |---|---|---|---| ||||`16,250,168`| ``` Page 17 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`16. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`451,876`
`451,876`|`Resources`
`expended`
`£`
`(373,457)`
`(373,457)`|`Gains and`
`losses`
`£`
`(1,391,373)`
`(1,391,373)`|`Movement`
`in funds`
`£`
`(1,312,954)`| |---|---|---|---|---| |||||`(1,312,954)`| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.22`
`£`
`17,563,122`
`17,563,122`|`Net`
`movement`
`in funds`
`£`
`(433,110)`
`(433,110)`|`At`
`31.12.23`
`£`
`17,130,012`| |---|---|---|---| ||||`17,130,012`| ``` A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
`911,692`
`(757,131)`
`(587,671)`
`(433,110)`
`911,692`
`(757,131)`
`(587,671)`
`(433,110)`|`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
`911,692`
`(757,131)`
`(587,671)`
`(433,110)`
`911,692`
`(757,131)`
`(587,671)`
`(433,110)`| |---|---|---| |||`(433,110)`| ## **`17. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 December 2023. ``` ## **`18. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`Net income/(expenditure) for the reporting period (as per the Statement of`**
**`Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`(Gain)/losses on investments`
`Interest received`
`Dividends received`
`Decrease/(increase) in debtors`
`(Decrease)/increase in creditors`
**`Net cash used in operations`**|`31.12.23`
`£`
`879,844`
`-`
`(803,702)`
`(1,600)`
`(446,494)`
`204,880`
`(155,854)`
`(322,926)`|`31.12.22`
`£`
`(1,312,954)`
`31,850`
`1,391,373`
`(1,135)`
`(447,186)`
`(382,157)`
`393,246`| |---|---|---| |||`(326,963)`| ``` Page 18 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`** ## **`19. ANALYSIS OF CHANGES IN NET FUNDS`** |**`Net cash`**
`Cash at bank`
**`Total`**|`At 1.1.23`
`£`
`1,601,321`
`1,601,321`
`1,601,321`|`Cash flow`
`£`
`(273,550)`
`(273,550)`
`(273,550)`|`At 31.12.23`
`£`
`1,327,771`| |---|---|---|---| ||||`1,327,771`| ||||`1,327,771`| ## **`20. JAMES HORA HOME`** ``` TheSocietyenteredintoan agreementwithBartsand TheLondonNHS TrustregardingJamesHoraHomein February 2003, witha contributionof£80,000perannumforatleastthesubsequent20years.TheNHSTrusthasa leaseagreementon the propertythat expiresin March2026, and has agreedto permitthe Societyto continueutilisingJamesHora Home until that time at the same level of contribution. ``` ## **`21. POST BALANCE SHEET NON-ADJUSTING EVENT`** ``` Intheprevailingeconomicconditions,themarketvalueofthecommoninvestmentfundsatthedateofthedraftingof these accounts was £16,261,260. ``` ``` Page 19 ```