``` REGISTERED CHARITY NUMBER: 1187012 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ``` ## **`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 2024`** |||**`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 Statement of Cash Flows`**||`11`|| |**`Notes to the Financial Statements`**|`12`|`to`|`20`| ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ``` REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 ``` |**`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`| ``` Page 1 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`** ``` TheTrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December2024.The Trustees haveadoptedtheprovisionsof AccountingandReportingby Charities;Statementof RecommendedPracticeapplicableto charities preparingtheiraccountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republicof Ireland (FRS102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Purpose and Aims`** ``` TheCharity'spurposesaretoprovideandadministersuchreliefandaidforpatientsat,orwhohavebeendischargedfrom, the RoyalLondonHospital,thatdoesnotfallwithinthescopeoftheNationalHealthService.TheaimoftheCharityistocontinue to renderassistance,directlyandindirectly,toasmanysuchpatientsaspossibleandthustofurtheritscharitablepurposesfor the public benefit. ``` ## **`Ensuring our work delivers this aim`** ``` TheTrusteesregularlyreviewthisaimandtheoutcomesoftheCharity'sactivity,assessingtheprogressofeachactivityand the benefitsprovidedtothegroupsandindividualsbeinghelped.SuchreviewsenabletheTrusteestobesatisfiedthatthe various activitiesremainfocussedonthestatedpurposesoftheCharity.DuenotehasbeentakenoftheCharityCommission's general guidance on public benefit in these reviews and in planning future activities. ``` ``` Such futureactivitieswill usuallyinvolvethe makingof grantsto other local organisationsthat renderassistance,directlyor indirectly, topatientsoftheRoyalLondonHospital.TheTrusteeswillonlysanctionsuchgrantsifadequateinformationisobtained when considering grant requests and that appropriate reporting will be provided subsequent to a grant being made. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` All of the Society'scharitableactivitiesfocuson providingcareand support,directlyand indirectly,for patientsat, or who have been dischargedfrom,theRoyalLondonHospital,andthatisdeemedtobeoutsidethescopeoftheNationalHealthService. This includestangiblesupportforindividualsorforgroupsofpatients,orbywayofgrantstolocalorganisationsthatprovidecare for them. Grants are also made from time to time to support developments in clinical care that directly benefit patients. ``` ``` UseofthefacilitiesatJamesHoraHomegraduallyincreasedduring2024,thoughfellshortofpre-pandemiclevels. Unfortunately however,thesemuchvaluedfacilitieshadtobe withdrawnin November,duetosafety-relatedissues.Whilstthoseissuescould be mitigatedthroughsignificantcapitalexpenditure,theexpiryoftheproperty'shead-leasetotheNHSTrustinMarch2026does not justifysuch expenditure.Discussionsbetweenthe Societyand the Hospital'sManagementhave resultedin an arrangement whereby self-caringpatientsandrelativesofpatientscanstaywithinorclosetotheHospitalovernight.TheSocietyiscontinuingto provide funding through 2025 for that arrangement. ``` ``` On a similartheme,the Societymadea furthergrantin 2024to the Sick Children'sTrust(SCT),amountingto £30,000,to assist the fundingofStevensonHouseinWhitechapel.Thisisavaluablefacilitythatprovidesovernightanddaytimeaccommodation for families where a child is currently in the Hospital's Intensive Care Unit. ``` ``` The'RoutestoRoots'project(R2R),operatedbyProvidenceRow(PR)inliaisonwiththeHospitalPathwaysTeamat RLH, continuedto carryoutitsvaluableroleto prevent,as faras possible,homelesspatientsof theHospitalbeingdischargedback onto the streetsof London.The projectalso servesto reducere-admissionratesto the Hospital.The Societymakesa grantto PR to fund someofthestaffingcostsoftheproject,anditsTrusteesreceivehalf-yearlyreportssettingoutnumbersofpatients receiving assistanceandsample(anonymous)casestudies.Furthertranchesofthe3-yearagreementfrom1stApril2023weregranted in 2024,amountingto£90,382.Inaddition,thesumof£15,000wasalsograntedtoPRforassistingR2Rclientswithminorcosts to assistwithrehabilitationgiventheirlackoffinancialresources.RegularstatementsarereceivedfromPRsettingoutthe amounts and circumstances of the individual payments made to their clients. ``` ``` An applicationfor a furthergrantto assistthe therapeuticactivitiesof the Children'sBrainInjuryTrust(CBIT)withinthe Hospital was receivedtogetherwith a reporton its recentactivitywhich is much-valuedby relevantfamilies.A donationof £15,000to CBIT for that specific purpose was made during the year. ``` ``` Over the courseof the year,the Societyalso made grantstotalling£32,372to assistpatientsof the Hospitalin 94 cases.In addition, grants totalling £73,272 were made to other local organisations who support RLH patients in various ways, as follows: ``` ``` Page 2 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`** - `Tower Hamlets Mission £15,000` - `City and East London Bereavement Service £ 25,000` - `Griffin Community Trust £15,000` - `RLH League of Nurses (Past & Present Nurses) £ 3,272` - `Friends of RLH (Music Project) £15,000` ``` Thislattergrantfollowstheintroductionby'TheFriends'ofchambermusicrecitalsintheHospital'smainfoyeronceortwice per weekaroundthemiddleoftheworkingday.Theperformers,oftenfromLondon'smusiccolleges,receivenofee.However, travel expensesarere-imbursedwhich,togetherwithothercosts,areborneby'TheFriends'.ThisisanactivitywhichtheSociety is pleased to support, bearing in mind how much it is appreciated by patients and visitors to the Hospital. ``` ## **`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`** ``` At31stDecember2024theSociety'stotalassetsamountedto£17,843,843(2023:£17,575,682),ofwhich£16,188,726 (2023: £15,816,764)was the value of sharesin the COIF CharitiesInvestmentFund.The increasein the value of the Society'sassets over theyearis theresultof netgainsin thevalueof itsinvestments,togetherwithan excessof income,includingdonations,over cash outgo of £91,574over that period.The Societyreceivesno directfundingand does not carry out fundraisingactivities,so relies on its investments to provide its income, although the Society does receive donations from time to time. ``` ``` InvestmentsformasubstantialpartoftheSociety'sreservesand,asstatedbelow,aremanagedbyanindependent investment manager.TheTrusteesareresponsibleforsettingtheSociety'sinvestmentpolicyandformonitoringtheperformanceof the investmentportfolio.Thecurrentpolicyaimstopreservetherealvalueoftheinvestmentsovertimeaswellasgenerating an appropriatelevelofincomeeachyear.Careistakentoensurethatthereisalwayssufficientliquiditytofundgrants and administrative expenses for a reasonable period if investment conditions deteriorate significantly. ``` ``` As at 31stDecember2024,£1,411,294was heldas cashor cashequivalents,of which£850,000was investedin the COIF Deposit Fundmanagedby the investmentmanagers,withthe balancebeingheldin accountswiththe Society'sbank.The Trusteesaim to holdatleastoneyear'slikelyoutgoincashorcashequivalentstobeabletofundexpenditurewhichmeetstheSociety's objects. Theamountheldat theyear-endsomewhatexceededthis,reflectingtheTrustees'uncertaintyaboutoutgoover2025in thelight of the closure of the James Hora Home facility in Ashfield Street, Whitechapel. ``` ## **`Investment Policy`** ``` TheSociety'sconstitutionasa CIOauthorisestheTrusteestomakeandalterinvestmentsusingtheCommonInvestmentFund of theCIO.Throughouttheyear,theinvestmentshaveconsistedofincomeunitsintheCharitiesInvestmentFund(CIF)and the Charities Deposit Fund (CDF) managed by CCLA. ``` ``` TheobjectivessetbyCCLAforCIFaretoprovideatotalreturn(growthincapitalandincome)overthelongterm(definedas 5 years).TheCIF'slong-termperformancecanbeassessedbyreferringtothetargetbenchmarkoftheconsumerpriceindex plus 5%pa(beforethedeductionofcostsandcharges).TheCIFusesa'totalreturn'approachtoinvesting,whichmeansthat,for the incomeunits,somepartoftheincomedistributionmaybepaidfromcapitalifthereisnotenoughincomefromthe underlying investments.The currentforecastincomeyield is such that the Society'sTrusteesexpectthat the annualincomegenerated currently should be close to £450,000. ``` ``` In2024,theCIFdistributed£443,030totheSociety,whichwas2.8%oftheSociety'saverageinvestmentintheCIF.In addition, includingfeerebates,CCLAdeductcostsandfeesdirectlyfromtheirfunds.TheSocietyreceivesa rebateon theCIFreflecting the sizeof theinvestment.Thevalueinvestedin theCIFgrewby 2.3%, producinga totalreturnovertheyearof around5.1%.In 2023 thereturnon theinvestmentportfolio(moniesmanagedbythepreviousinvestmentmanagerandtheCIF)wasestimatedas 7.7%. Theannualisedreturnontheinvestmentportfoliooverthe5 yearsto31stDecember2024wasthereforec.4.8%,(c.2.2%forthe 3 yearperiod).Thisissomewhatbelowtheannualisedrateofinflation(CPI)plus3%paoverthoseperiods(viz6.9%and 9.3% respectively),whichtheTrusteesregardasappropriatetargetsoverthemediumtermtopreservetherealvalueofthe portfolio (assuming no drawdown of capital). ``` ``` Inaddition,theSocietyreceivedincomeof£32,233fromitsinvestmentintheCDFand£5,308fromitsinvestmentinthe Coutts Reserve Fund. ``` ``` Page 3 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Legal Status and Governance`** ``` TheSocietyis a CharitableIncorporatedOrganisation(CIO),havingpreviouslyoperatedformanyyearsasa CharitableTrust (CT) untilthechangeofstatusinDecember2019.TheSocietycurrentlyhas8Trustees,whoeitherhaveextensiveknowledge and experienceofthehealthandsocialcaresectors,particularlyinEastLondon,orpossessexpertiseinfinancialand investment matters or of the legal and regulatory environment for charities. ``` ``` A formalmeetingofTrusteeswasheldon2ndAugust2024toapprovetheSociety'sReportandAccountsfor2023.Trustees also metduringtheyearon4thMarch,15thApril,3rdJuneand21stOctobertoreceivereportsfromorganisationsinreceiptof grants duringthatyearandtoconsiderfurthergrantapplicationsfor2024aswellastoconsider(interalia)theSociety'sfinancial position (includinginvestments),the situationregardingJamesHoraHomeand particularneedsarisingwithinand aroundthe Royal London Hospital, its staff and patients. ``` ``` Administrationof theSociety'sactivitieshasbeenundertakenformanyyearsby ColinPitman,bothduringhistimeas an employee andmorerecentlyonaself-employedandpart-timebasis.TheTrusteesrecordtheirappreciationofhislongperiodof valuable servicetotheSocietyonhisretirementearlyin2024andwelcomehisreplacement,RobertFelix-whoprovidessecretarial and administrative services through his company. ``` ## **`Trustees`** ``` As indicatedabove,theSociety'sTrusteesheld5 meetingsduring2024.At theOctobermeetingAlisonKnappwasre-appointed as a Trustee for a further 1 year following completion of her 3-year term in December 2024. ``` ## **`Risk Statement`** ``` The Trusteesreviewall aspectsof the Society'sfinancesand will take whateveractionis appropriateto protectthe Society's financial status.A newriskmatrixfortheSocietywasadopted,inlinewithCharityCommissionguidance,andwillbereviewedannually, or more frequently should the need arise. ``` ``` The principal risks to which the Society is exposed and a brief description of the mitigations are: - ``` |**`Risk`**||||**`Mitigation`**|| |---|---|---|---|---|---| |`Governance: - the risk that the Society does not achieve its`|||`The Society `|`has a diverse Trustee Board that `|`has the`| |`charitable, regulatory and ethical `|`objectives due to inadequate`||`necessary skills to provide good oversight and governance of`||| |`governance.`|||`the Society.`||| |`Investment:`
`- The`
`risk`
`that`|`the Society's`
`monies`|`are`|`The`
`Society`|`appoints`
`external,`
`qualified`
`and`|`regulated`| |`mismanaged or fail to provide the resources required to meet`|||`investment managers who are subject to regular review. The`||| |`the Society's objectives.`|||`Society aims `|`to have cash, short term deposits `|`or money`| ||||`market investments sufficient to meet one year's `||`expected`| ||||`expenditure.`||| |`Fraud and Financial Crime: - The risk that the Society is`|||`The Society has a Fraud Policy that is regularly reviewed and`||| |`subject to fraud or other financial crimes.`|||`describes the`|`policy and procedures to minimise this risk.`|| ## **`TRUSTEES' RESPONSIBILITY STATEMENT`** ``` The trusteesare responsiblefor preparingthe Reportof the Trusteesand the financialstatementsin accordancewith applicable law and UnitedKingdomAccountingStandards(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 2024`** ## **`TRUSTEES' RESPONSIBILITY STATEMENT - continued`** ``` The law applicableto charitiesin Englandand Wales,the CharitiesAct 2011,Charity(Accountsand Reports)Regulations2008 and the provisionsof the trustdeed requiresthe trusteesto preparefinancialstatementsfor each financialyear which give a true and fair viewofthestateofaffairsofthecharityandoftheincomingresourcesandapplicationofresources,includingtheincome and 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.` ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytime the financialpositionofthecharityandtoenablethemtoensurethatthefinancialstatementscomplywiththeCharitiesAct2011, the Charity(AccountsandReports)Regulations2008andtheprovisionsofthetrustdeed.Theyarealsoresponsiblefor safeguarding the 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 30 June 2025 and signed on its behalf by: ``` ``` D G Thomas (Chairman) - Trustee ``` ``` Page 5 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofTheMarieCelesteSamaritanSociety(the'charity')fortheyear ended 31 December2024 whichcomprisethe Statementof FinancialActivities,the Statementof FinancialPosition,the Statementof Cash Flowsandnotestothefinancialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancial reporting frameworkthathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(United Kingdom GenerallyAcceptedAccountingPractice),includingFinancialReportingStandard102'TheFinancialReportingStandard 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 2024 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 ethicalrequirementsthatare relevantto our audit of thefinancialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourotherethicalresponsibilities in accordancewith theserequirements.We believethatthe auditevidencewe have obtainedis sufficientand appropriateto provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccountingin the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsorconditions that, individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasagoingconcernforaperiodofat least twelve months from when the financial statements are authorised for issue. ``` ``` Our responsibilitiesand the responsibilitiesof the trusteeswith respectto going concernare describedin the relevantsectionsof this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedinthe Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextentotherwiseexplicitlystated in our report, we do not express any form of assurance conclusion thereon. ``` ``` In connectionwithourauditof thefinancialstatements,ourresponsibilityis to readtheotherinformationand,in doingso, consider whethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheaudit or otherwiseappearsto be materiallymisstated.If we identifysuch materialinconsistenciesor apparentmaterialmisstatements,we are requiredto determinewhetherthis gives rise to a materialmisstatementin the financialstatementsthemselves.If, based on the work wehaveperformed,weconcludethatthereisa materialmisstatementofthisotherinformation,wearerequiredtoreportthat fact. 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. ``` ``` In preparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilityto continueas a going concern, disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessthe trustees 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`** ``` We have been appointedas auditorsunder Section144 of the CharitiesAct 2011 and reportin accordancewith the Act and relevant regulations made or having effect thereunder. ``` ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrom material misstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthatincludesour opinion. Reasonableassuranceis a high levelof assurance,but is not a guaranteethat an auditconductedin accordancewith ISAs (UK) will alwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterial if, individuallyor in theaggregate,theycouldreasonablybe expectedto influencetheeconomicdecisionsof userstakenon the basis of these financial statements. ``` ``` The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ``` - `Discussions with the trustees and management, including consideration of known or suspected instances of non-compliance with` - `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.` - `Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations impacting` - `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 audit work has been undertakenso that we might state to the charity'strusteesthose matterswe are required to stateto themin an auditors'reportandforno otherpurpose.To thefullestextentpermittedby law,we do notacceptor assume responsibilitytoanyoneotherthanthecharityandthecharity'strusteesasabody,forourauditwork,forthisreport,orfor the opinions we have formed. ``` ``` Barrow LLP Statutory Auditor Chartered Accountants Jackson House Station Road Chingford London E4 7BU ``` ``` 30 June 2025 ``` ``` Page 7 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024`** |`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 on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**
**`CONTINUING OPERATIONS`**|`31.12.24`
`Unrestricted`
`fund`
`£`
`13,137`
`481,682`
`494,819`
`113,527`
`289,718`
`403,245`
`371,962`
`463,536`
`17,130,012`
`17,593,548`|`31.12.23`
`Total`
`funds`
`£`
`11,722`
`448,094`| |---|---|---| |||`459,816`| |||`170,237`
`213,437`| |||`383,674`| |||`803,702`| |||`879,844`
`16,250,168`| |||`17,130,012`| |||| ``` 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 2024`** |`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`**|`31.12.24`
`Total`
`funds`
`£`
`16,188,726`
`243,823`
`1,411,294`
`1,655,117`
`(206,570)`
`1,448,547`
`17,637,273`
`(43,725)`
`17,593,548`
`17,593,548`
`17,593,548`|`31.12.23`
`Total`
`funds`
`£`
`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`| ``` Thefinancialstatementswereapprovedby the Boardof Trusteesand authorisedfor issueon 30 June2025and weresignedon its behalf by: ``` ``` D G Thomas (Chairman) - Trustee ``` ``` T J Palmer (Treasurer) - 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 2024`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`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`**|`31.12.24`
`£`
`(398,159)`
`(398,159)`
`(371,962)`
`371,962`
`5,728`
`475,954`
`481,682`
`83,523`
`1,327,771`
`1,411,294`|`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`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 10 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`** ||`31.12.24`|`31.12.23`| |---|---|---| ||`£`|`£`| |**`Net income for the reporting period (as per the Statement of Financial`**||| |**`Activities)`**|`463,536`|`879,844`| |**`Adjustments for:`**||| |`Gain on investments`|`(371,962)`|`(803,702)`| |`Interest received`|`(5,728)`|`(1,600)`| |`Dividends received`|`(475,954)`|`(446,494)`| |`Decrease in debtors`|`187,324`|`204,880`| |`Decrease in creditors`|`(195,375)`|`(155,854)`| |**`Net cash used in operations`**|`(398,159)`|`(322,926)`| ## **`2. ANALYSIS OF CHANGES IN NET FUNDS`** |**`Net cash`**
`Cash at bank`
**`Total`**|`At 1.1.24`
`£`
`1,327,771`
`1,327,771`
`1,327,771`|`Cash flow`
`£`
`83,523`
`83,523`
`83,523`|`At 31.12.24`
`£`
`1,411,294`| |---|---|---|---| ||||`1,411,294`| ||||`1,411,294`| ``` The notes form part of these financial statements ``` ``` Page 11 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenpreparedin accordance with the CharitiesSORP (FRS 102) 'Accountingand Reportingby Charities:Statementof RecommendedPractice applicable to charitiespreparingtheiraccountsin accordancewiththe FinancialReportingStandardapplicablein the UK and Republic ofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeen prepared underthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincludedatmarketvalue,asmodified by the revaluation of certain assets. ``` ``` TheCharityconstitutesapublicbenefitentityasdefinedbyFRS102andisregisteredbyTheCharityCommission of EnglandandWalesundera TrustDeed.Thecharity'sregisterednumberandregisteredofficecanbe foundon the general information page 1. The presentation currency of the financial statements is the Pound Sterling (£). ``` ## **`Income`** ``` All incomingresourcesare includedin the Statementof FinancialActivities(SoFA)whenthe charityis legallyentitledto 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`** ``` Allexpenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall costs relatedto the category.Expenditureis recognisedwhere there is a legal or constructiveobligationto make paymentsto third parties, 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. ``` ``` Grantspayableto third partiesare within the charitableobjectives.Where unconditionalgrantsare offered,this is accrued as soonas therecipientis notifiedof thegrant,as thisgivesriseto a reasonableexpectationthattherecipientwillreceive the grants.Wheregrantsareconditionalrelatingtoperformancethenthegrantisonlyaccruedwhenanyunfulfilled conditions are outside of the control of the charity. ``` ``` ItistheSociety'spolicytoallowoneyearfromthedateofapprovalforgrantstobeclaimed.Ifthegrantsarenot claimed within this time limit then they are withdrawn. ``` ``` Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasacommitmentbut not accrued as expenditure. ``` ## **`Support and governance costs allocation`** ``` Supportcosts are those that assistthe work of the charitybut do not directlyrepresentcharitableactivitiesand include office costs,governancecosts,administrativeand payrollcosts.They are incurreddirectlyin supportof expenditureon the objects ofthecharity.Wheresupportcostscannotbedirectlyattributedtoparticularheadingstheyhavebeenallocated to expenditureon charitableactivitieson a basisconsistentwithuseof theresources.An allocationof 70% togrants payable and 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. ``` ``` Page 12 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`1. ACCOUNTING POLICIES - continued`** ## **`Structure of funds`** ``` Unrestrictedfundscompriseresourcesavailableatthetrustees'discretionandincludeincomeandexpenditure related solelytothecharity'sownoperations.Withinthese,designatedfundsmaybeestablishedbytrusteesforspecific purposes but remain legally unrestricted. ``` ``` Restrictedfundsaretheresourcessubjecttodonorimposedconditionsorstipulations,legallyheldontrust,for specific activities,timeperiods,or purposes(includingendowmentfunds).The societyhad no endowmentfundsduringthe financial year. ``` ``` Grantspayablearerecognisedas liabilitiesin theyearin whicha formalgrantofferis acceptedby therecipientand where anyconditionsattachedto thegranthavebeenmet.Expenditureis chargedto unrestrictedfunds,withanyunfulfilled grant commitmentsdisclosedinthenotestotheaccounts.Multi-yearorconditionallyreleasedgrantsareonlyaccrued as expenditure once conditions are satisfied; otherwise, they are disclosed as contractual commitments. ``` ## **`Management and administration expenditure`** ``` Expenditureonmanagementandadministrationofthecharityincludesallexpenditurenotdirectlyrelatedtothe charitable activity. This includes the day to day running of the charity, audit fees and administrative costs. ``` ## **`Fixed assets investments`** ``` Investments are stated at their fair value. Movements in fair value are recognised in the Statement of Financial Activities. ``` ``` The society'sinvestmentpolicy is to preserveand increasethe capitalbase whilstprovidinga significant,sustainable income forthesociety.TheappointedfundmanagerisCCLAandthefinancecommitteeregularlyreviewtheperformanceof the Charities Official Investment Fund (COIF) in which the capital is invested. ``` ## **`Interest receivable`** ``` InterestonmoniesheldinbankdepositaccountsandtheCOIFCharitiesDepositFundareincludedwhenreceivable and theamountcanbe measuredreliablybythecharity;thisis normallyuponnotificationoftheinterestpaidorpayableby the bank. ``` ## **`Realised gains and losses`** ``` AllgainsandlossesaretakentotheStatementofFinancialActivitiesastheyarise.Realisedgainsandlosses on investmentsare calculatedon the differencebetweensale proceedsand openingmarketvalue(or date of purchaseif later). Unrealisedgainsandlossesoninvestmentsarecalculatedasthedifferencebetweenmarketvalueattheyear-end and opening 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`** ``` Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyeararerecordedat transaction price. Any losses arising from impairment are recognised in expenditure. ``` ## **`Pension`** ``` TheSocietypreviouslycontributedtoadefinedbenefitPensionSchemeforcertainformeremployees.TheScheme was closedto new membersand futurebenefitaccrualsseveralyearsago. Accruedbenefitswere subsequentlysecured through a buy-outby an insurer,eliminatingthe requirementfor furthercontributionsfrom the Societyand removingany residual risk for the Society. ``` ``` FormeremployeeswhoweremembersoftheSchemenowreceivebenefitsdirectlyfromtheinsurer.Thesebenefits were lowerthanoriginallyanticipatedwhentheSchemewasactive.Tomitigatethereductioninexpectedbenefits,the Trustees havemadeadditional'ex-gratia'pensionpayments.Intheyearended31December2024,thesepaymentsamounted to £43,372 (including taxes). ``` ``` Page 13 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`1. ACCOUNTING POLICIES - continued`** ``` TheSocietynolongeremploysanystaff,andnocontributionshavebeenmadetoanypensionschemeduringthe period coveredby thesefinancialstatements.The'ex-gratia'paymentsarereviewedannuallyto assesswhetherfurthersupport is required for former employees receiving reduced benefits from the insurer. ``` ## **`Going concern`** ``` ThetrusteesconsiderthattherearenomaterialuncertaintiesabouttheSociety'sabilitytocontinueasagoing concern. Therefore,the financialstatementshave been preparedon a going concernbasis.The trusteeshave consideredthe level of funds held and the expectedlevel of incomeand expenditurefor 12 monthsfrom authorisingthese financialstatements. The budgetedincomeandexpenditurearesufficientwiththelevelofreservesforthecharitytobeabletocontinueasa going concern. ``` ## **`2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY`** ``` Withrespecttothenextreportingperiod2025,themostsignificantareaofuncertaintythataffectsthecarryingvalue of assetsheldbytheSocietyarethelevelofinvestmentreturnparticularlyfrominvestmentincomeandtheperformance of investmentmarkets(seetheinvestmentpolicyandperformanceandriskmanagementsectionsofthetrustees' annual report for more information). ``` ## **`3. DONATIONS AND LEGACIES`** |**`DONATIONS AND LEGACIES`**||| |---|---|---| ||`31.12.24`|`31.12.23`| ||`£`|`£`| |`Donations`|`13,137`|`11,722`| |**`INVESTMENT INCOME`**||| ||`31.12.24`|`31.12.23`| ||`£`|`£`| |`Investment income`|`475,954`|`446,494`| |`Deposit account interest`|`5,728`|`1,600`| ||`481,682`|`448,094`| |**`RAISING FUNDS`**||| |**`Raising donations and legacies`**||| ||`31.12.24`|`31.12.23`| ||`£`|`£`| |`James Hora Home (JHH)`|`66,667`|`80,607`| |`Support costs`|`46,860`|`38,858`| ||`113,527`|`119,465`| ## **`4.`** ## **`5. RAISING FUNDS`** ``` Page 14 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`5. RAISING FUNDS - continued`** ## **`Investment management costs`** |**`Investment management costs`**||| |---|---|---| ||`31.12.24`|`31.12.23`| ||`£`|`£`| |`Portfolio management`|`-`|`46,606`| |`Investment advice`|`-`|`3,851`| |`Safe custody`|`-`|`315`| ||`-`|`50,772`| |`Aggregate amounts`|`113,527`|`170,237`| ``` InaccordancewiththeCharitiesSORP(FRS102),charitiesarenotrequiredtoapportioninvestmentmanagement fees embedded within collective investment schemes in order to identify a notional cost attributable to their own holdings. ``` ``` As is standardfor pooled investmentfunds,the COIF CharitiesInvestmentFund incursunderlyingcosts,the most significant of whichis the annualmanagementcharge.Thischargeis reflectedin the fund’sunit priceand is not separatelyinvoiced to investors. ``` ``` Accordingly,therearenoinvestmentmanagementcoststoreportinrespectofthecharity’sholdingintheCOIF Charities Investment Fund, as CCLA does not levy a direct management fee on the charity. ``` ## **`6. CHARITABLE ACTIVITIES COSTS`** |`General`
**`7.`**
**`GRANTS PAYABLE`**
`General`
`The total grants paid to institutions during the year was as follows:`
`The Tower Hamlets Mission`
`The City and East London Bereavement Service`
`The Griffin Community Trust`
`Providence Row`
`Past & Present Nurses`
`TB Outreach`
`Sick Children Trust`
`Child Brain Injury Trust (CBIT)`
`RLH Music Project`
`The Royal London Hospital - Barts NHS`|`Grant`
`funding of`
`activities`
`Support`
`(see note`
`costs (see`
`7)`
`note 8)`
`Totals`
`£`
`£`
`£`
`269,635`
`20,083`
`289,718`
`31.12.24`
`31.12.23`
`£`
`£`
`269,635`
`196,782`
`31.12.24`
`31.12.23`
`£`
`£`
`15,000`
`10,000`
`25,000`
`20,000`
`15,000`
`10,000`
`109,306`
`102,058`
`-`
`3,272`
`-`
`1,000`
`30,000`
`20,000`
`15,000`
`10,000`
`15,000`
`-`
`13,333`
`-`
`237,639`
`176,330`|`Totals`
`£`
`289,718`| |---|---|---| |||`176,330`| ``` Page 15 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`7. GRANTS PAYABLE - continued`** ``` The total grants paid to individuals during the year was as follows: ``` |||`31.12.24`|`31.12.23`| |---|---|---|---| |||`£`|`£`| |`Clothing fund`||`-`|`600`| |`Samaritan help`||`32,372`|`19,852`| |||`32,372`|`20,452`| |**`SUPPORT COSTS`**|||| |||`Governance`|| ||`Management`|`costs`|`Totals`| ||`£`|`£`|`£`| |`Raising donations and legacies`|`6,846`|`40,014`|`46,860`| |`General`|`2,934`|`17,149`|`20,083`| ||`9,780`|`57,163`|`66,943`| ## **`8. SUPPORT COSTS`** ``` 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: ``` ``` 31.12.2431.12.23 ``` ||||`31.12.24`|`31.12.23`| |---|---|---|---|---| ||`Raising`|||| ||`donations`|||| ||`and`||`Total`|`Total`| ||`legacies`|`General`|`activities`|`activities`| ||`£`|`£`|`£`|`£`| |`Secretarial and administrative services`|`4,695`|`2,012`|`6,707`|`2,353`| |`Insurance`|`120`|`52`|`172`|`457`| |`Postage and stationery`|`29`|`12`|`41`|`188`| |`Sundries`|`2,002`|`858`|`2,860`|`90`| |`Pensions - Past employees`|`30,360`|`13,012`|`43,372`|`41,460`| |`Auditors' remuneration`|`9,486`|`4,065`|`13,551`|`10,725`| |`Auditors' remuneration for non audit work`|`168`|`72`|`240`|`240`| ||`46,860`|`20,083`|`66,943`|`55,513`| ## **`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 2024 nor for the year ended 31 December 2023. ``` ``` Page 16 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`10. STAFF COSTS`** ``` The average monthly number of employees during the period was Nil. ``` ## **`11. TANGIBLE FIXED ASSETS`** |**`TANGIBLE FIXED ASSETS`**|| |---|---| ||`Development`| ||`costs`| ||`£`| |**`COST`**|| |`At 1 January 2024`|`627,626`| |`Disposals`|`(627,626)`| |`At 31 December 2024`|`-`| |**`DEPRECIATION`**|| |`At 1 January 2024`|`627,626`| |`Eliminated on disposal`|`(627,626)`| |`At 31 December 2024`|`-`| |**`NET BOOK VALUE`**|| |`At 31 December 2024`|`-`| |`At 31 December 2023`|`-`| ``` TheaboverepresentstheSociety’scapitalcontributiontotheNHSTrustfortherefurbishmentofJamesHorace Evans House(JHH).JHH was closedon 30 October2024 for healthand safetyreasons.As a result,the 2003 Agreement between the Societyand the NHS Trust,which was due to expirein March2026, is now regardedas null and void. Consequently, the development costs of £627,000 have been written off. ``` ## **`12. FIXED ASSET INVESTMENTS`** |**`MARKET VALUE`**
`At 1 January 2024`
`Additions`
`At 31 December 2024`
**`NET BOOK VALUE`**
`At 31 December 2024`
`At 31 December 2023`|`Listed`
`investments`
`£`
`15,816,764`
`371,962`
`16,188,726`
`16,188,726`
`15,816,764`| |---|---| ``` ThefundsareinvestedintheCharitiesOfficialInvestmentFund(COIF).Thecharityheld797,737.52unitsin CCLA's Charities Investment Fund Income Units at 31 December 2024 which are stated at fair value. ``` ``` The Society does not have any material investment holdings that require separate disclosure. ``` ``` Page 17 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`12. FIXED ASSET INVESTMENTS - continued`** ``` Cost or valuation at 31 December 2024 is represented by: ``` |`Valuation in 2022`
`Valuation in 2023`
`Valuation in 2024`
**`13.`**
**`DEBTORS`**
`31.12.24`
`£`
`Amounts falling due within one year:`
`Grants prepaid`
`196,367`
`Accrued investment income`
`3,731`
`200,098`
`Amounts falling due after more than one year:`
`Grants prepaid`
`43,725`
`Aggregate amounts`
`243,823`
**`14.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`31.12.24`
`£`
`Grants payable`
`178,770`
`Taxation and social security`
`-`
`Other creditors`
`27,800`
`206,570`|`Listed`
`investments`
`£`
`14,614,344`
`1,202,420`
`371,962`
`16,188,726`
`31.12.23`
`£`
`210,880`
`2,772`
`213,652`
`217,495`
`431,147`
`31.12.23`
`£`
`193,008`
`692`
`34,475`
`228,175`| |---|---| ``` Page 18 ``` ## **`THE MARIE CELESTE SAMARITAN SOCIETY`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`** ||`31.12.24`|`31.12.23`| |---|---|---| ||`£`|`£`| |`Grants payable`|`43,725`|`217,495`| ## **`16. MOVEMENT IN FUNDS`** |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.24`
`£`
`17,130,012`
`17,130,012`|`Net`
`movement`
`in funds`
`£`
`463,536`
`463,536`|`At`
`31.12.24`
`£`
`17,593,548`| |---|---|---|---| ||||`17,593,548`| ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
`494,819`
`(403,245)`
`494,819`
`(403,245)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`371,962`
`463,536`
`371,962`
`463,536`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`371,962`
`463,536`
`371,962`
`463,536`| |---|---|---|---| ||||`463,536`| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Comparative net movement in funds, included in the above`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.23`
`£`
`16,250,168`
`16,250,168`
`are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
`459,816`
`(383,674)`
`459,816`
`(383,674)`|`Net`
`movement`
`in funds`
`£`
`879,844`
`879,844`
`Gains and`
`losses`
`£`
`803,702`
`803,702`|`At`
`31.12.23`
`£`
`17,130,012`|`At`
`31.12.23`
`£`
`17,130,012`| |---|---|---|---|---| ||||`17,130,012`|| ||||`Movement`
`in funds`
`£`
`879,844`
`879,844`|| |||||`879,844`| ``` Page 19 ``` ``` THE MARIE CELESTE SAMARITAN SOCIETY ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`** ## **`16. MOVEMENT IN FUNDS - continued`** ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.23`
`£`
`16,250,168`
`16,250,168`|`Net`
`movement`
`in funds`
`£`
`1,343,380`
`1,343,380`|`At`
`31.12.24`
`£`
`17,593,548`| |---|---|---|---| ||||`17,593,548`| ``` 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`
`£`
`£`
`£`
`£`
`954,635`
`(786,919)`
`1,175,664`
`1,343,380`
`954,635`
`(786,919)`
`1,175,664`
`1,343,380`| |---|---| ## **`17. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 December 2024. ``` ## **`18. JAMES HORA HOME`** ``` TheSocietyenteredintoanagreementwithBartsandTheLondonNHSTrustregardingJamesHoraHomein February 2003,with a contributionof £80,000per annumfor at least20 years.The NHS Trusthas a leaseagreementon the property thatexpiresinMarch2026,andhaspreviouslyagreedtopermittheSocietytocontinueutilisingJamesHoraHome until then.However,itwasclosedonOctober30,2024,duetosafetyreasons.Nevertheless,theSocietyiscontinuingto make anannualgrantof£80,000untilMarch2026toTheRoyalLondonNHSTrustforprovidingaccommodationsimilarto that offered in James Hora Home. ``` ## **`19. POST BALANCE SHEET NON-ADJUSTING EVENT`** ``` In the prevailingeconomicconditions,the marketvalueof the commoninvestmentfundsat the dateof the draftingof these accounts was £15,535,140. ``` ``` Page 20 ```