Reglstered Charlty No. 1190632 THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS BENEVOLENT FUND REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS- BENEVOLENT FUND CONTENTS OF THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Pa8e Ito2 Report of the Trustees Independent Examlner's Report Statement of Flnanclal Activltles Balance Sheet Note to the Flnanclal Statement 6tolO THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS - BENEVOLENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 ATION ABOUT THE CHAR 31DE MBER 2021 Registered Offlce: Unit 5, Pr05pect House, 7 Ocean Way Southampton, S014 3TJ Telephone.. 02380 016494, e-mail.ceo@scmshq.org Bankers: Lloyds PIC Leadenhall Street Branch 113-116 Leadenhall Street London EC3A 4AX Le al Structure The Society of Consultlng Marine Engineers and Ships Surveyors - Benevolent Fund is a Charitable Incorporated Organisation under number 1190632. The governing instrument is the Foundation Constitution. anlsatlon The governing body of The society of Consultln8 Marlne Engineers and Ship Surveyors- Benevolent fund {CIOI are The Trustees. The Trustees shall manage the affairs ofthe CIO and may for that purpose exercise all the powers of the CIO. It is the duty of each Trustee: - to exercise hls or her powers and to pÈrform his or herfunctions in hi5 or her capacity as trustee of the CIO In the way he or she decides In 8ood falth would be most likely to further the purposes of the CIO: and to exercise, in the performance of those functions, such care and sklll as is reasonable in the circumstances having regard in particular to:{al any special knowledge or experience that he or she has or holds himself or herself out as havin& and {b) if he or she acts as a Trustee of the CIO in the course of a busines5 or professlon, to any special knowledge or experience that it is reasonable to expert of a person acting in the course of that kind of business or profession. Natwest Bank Southampton High Street Branch 68 Above Bar St Southampton S014 7DS Tr Nicholas Gladwell Patrlck Dolb erved dwl the Peter Grinde Roger Janson ear. Paul Johnson Approved by order of the Council of the Benevolent Fund on signed on its behalf by- September 2022 and Trustee P S Dolby Trustedicholas Gladwell Page I THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS - BENEVOLENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their report with the financial statements of the charlty for the year ended 31 December 2021. The trustees have adopted the prcwisions of Accountlng and Reporting by Charites: Statement of Recommended Practlce appllcable to charStles preparing their accounts in accordance with the Flnanclal Reportin8 Standard applicable In the UK and Republlc of Ireland IFRS 1021 leffertive l January 20151. OBJEcfivES AND AcfiviTIES Oblectlves and alms The objects of the CIO are to promote for the beneflt of the public: the rellef of poverty amon8St members of the Society and thelr partners, survlving partners, immedlate famllSes and dependants, Includln8 those who may be in need by rea50n of youth, a8e,111-health, disability, financial or other dlsadvantage,. the advancement of the educatlon of the publlc in the marltlme Industry, Includln8 but not excluslvely, throu8h the provision of grants, whlch may include grants, scholar5hlp5, and bursarles for the development or study of marltlme-related educatlonal courses; and such other charltable purposes as the Trustees may determlne at thelr dlscretlon from tlme to tlrnel, whlch rnay Include In partlcular those whlch 80 to promote the marltlme Industryl, Slgnlflcant Actlvltles The Charlty has contlnued durln8 the yearto 8lve asslstance to anyone who has been a member of the Soclety or thelr dependants In the event that they were experlenclng serlou5 flnanclal hardshlp. Its current and recent actlvltles Include provlslon of re8ular financial a5Si5tance to elderly men and women, and the provlslon of moblllty equlpment to those whose affllctlons have left them physlcally Impalred, There also been a support to other Charitles in the marine field and the payment has been made to Catzero charlty Durln8 the year 2021 charity was transformed to CIO. The name was kept the same and the charlty number Is 1190632 FI NANCIAL REVIEW Investment pollcy and objertlves The monies for the time belng belonging to the Benevolent fund may be iDve5ted by the Trustees In or upon one or more of the stacl Shares or securitie5 following that is to say '. public stocks or funds. or Government securities of the United Kingdom, or upon freehold or chattel, real securities in England and Wales. or the bonds, debentures, or debenture stock. or 8uaranteed stock, or preference or ordinary shares, or stock of any corporation, company or public body or authority, municipal, local, commercial. Page 2 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Indepgndgnt Examiner's Report Report to the trusteesl members of THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS - BENEVOLENT FUND On accounts for the year ended 31 December 2021 Charity no {if any) 230286 Set out on pages 10 I report to the Iruslees on my examination of the accounts of the above charity I'the Trust") for the year ended 3111212021. Responsibilities and As the charity Iwslees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 1"Ihe Acl"}. I report in respect of rlly examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the Act. I have completed my examination. I confirm that no material matters have come lo my attention (other than that disclosed below ') in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the a¢¢ounls do not accord with the accounting records Independent examiner's statement I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets If they do not apply. Signed: Date= 1910912022 Name: Kre Maneva Relevant professional qualificationls) or body lif any).. MAAT Address.. 5 Merlin Close Waterlooville P08 9AZ IER October 2018 Section B Disclosure OnFy complete rf the exa￿￿ner needs lo highlh3ht matters of concem (see CC32, Indep￿dent examinaticm of charity accI￿nts. dwedK>ns and guKlance for examiners). Glve here brl•f datslls any items that the examinor ￿h•S to dlgclo80. IER October 2018 THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS - BENEVOLENT FUND te nt of Financial Dece Ities for r202 h Year Ended 31 3111212021 3V1212020 Total funds Total funds Notes Unrestricted fund Income and Endwments frrffi Donation Bank Compensation Investment Income Tatal 210 302 140 513 143 EXPENDITURE ON Governa￿e ￿$t9 Accountancy fees Advertising fees Legal fees Insurance costs Recrultment costs Consultancy Fees loo 360 9294 97 132 3250 Charftable A¢tlvltles Flnanclal Assistance 6CM)O Total 6375 13004 Net galnsl(losses) (m Investments 54343 28150 NET INCOMEIIEXPENDITURE) 48482 15289 RECONaLIATION OF FUNDS Total f￿XIS bwht fwward 324050 308761 TOTAL FUNDS CARRIED FORWARD 372532 324050 Page 4 THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS - BENEVOLENT FUND Balan￿ Sheet At 31 December 2021 2021 2020 Notes Flxed Asset Investments 365776 311433 Current Assets Cash at Bank Debtors 6756 13557 140 Current Uabllltl¢s Credltors -1080 Net Current As$ets 6756 12617 Totsl As$ets le$$ Currert Uabllltles 372532 324050 NET ASSETS 372532 324050 FUNDS Unre5trlcted funds 372532 324050 TOTAL FUNDS 372532 324050 The flnanclal Statements were apprthed by the C￿nCil of the Benevolent fund on September 2022 and were signed on its behalf by Trustee P S Dolby Tru5tÈe Nicholas Gladwell Page 5 THE SOCIEfY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS- BENEVOLENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DE￿MBER 2021 I. ACCOUNTING POLiaES Basi5 of preparfng tt* fibundal ststements The financial statement of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) ' Accounting and Reporting by Charities: Statement of Recommended practice applicable to charities preparing their accounts in accordance with the Financial Rep￿1￿8 Standard applicable in the UK and Republic of Ireland IFRS 102) (effecti¥* l January 2015), Financial Rep)rting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. the financial statements have been prepared under the historical cost convention with the exception of the investments are included at the market value, as modified by the revaluation of the certain assets. Income All Income is recognised in the Statement of Financial Activities once the Benevolent fund has entitlement to funds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditu￿ as soon as there is a legal or Instructive obligation committin8 the Benewjlent Fund to that expenditure , it is probable that a transfer of econom ic beneflts wlll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headin8S that aggregate all cost related to the category. Where costs cannot be dirertly attributed to particular headings they have been allocated to acti%ities on a basls consistent with the use of resources. The Benewlent Fund has not received any Grants or Public Funding. Taxation The charity is exernpt from tax on its charitable artivities. 2. INVESTMENT INCOME 2021 2020 Deposit account interest Page 6 THE soaETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS - BENEVOLENT FUND REPORTOFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 3. COMPARATIVES FOR STATEMEKf OF FINANaAL AcrnimES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies Investment Income Bank Compensation Total 210 302 513 EXPENDrruRE ON GoverT￿nce costs Accountancy fees Advertisin8 fees Legal fees Insurance costs Recruitment costs ConsultarKy Fees 97 132 Charitable activities Financial a55i5tance Total 6375 Net galns/l1055es) ￿ Investments 54,343 NET INCOME 48482 RECONauAnON OF FUNDS Total furM& bwht fixward 324050 TOTAL FUNDS CARRIED FORWARD 372532 Page 7 THE SOCIETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS- BENEVOLENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DE￿MBER 2021 FIXED ASSEf INVESTME￿￿5 Listed investments MARKEf VALUE At l January 2021 Additions Disposals Revaluations 311,433 54,343 At 31 December 2021 365,776 NET BOOK VALUE At 31 December 2021 365,776 At 31 December 2020 311,433 Historical cost at 31 December 2020- £58,88412019 - £61,934) 2021 2020 Investment assets in the UK Investment assets outside the UK 365,776 311.433 365.776 311,433 Imostment exceeding 5% by Yalue of the p(Krfolio: 2021 2020 COIF aiarities In￿Stment Fund - Accumulation Units 365.776 311,433 There have not been any market valuation adjustment Sin￿ the investment has been purchased. The first revaluation incomelloss) is accounted during the Year ended 31 December 2017 Pa8e 8 THE soaETY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS- BENEVOLENT FUND REPORT OFTHETRUSTEE5 FOR THE YEAR ENDED 31 DE￿MBER 2021 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Accrued expenses paid by the Society -1080 movE￿￿T IN FUNDS Net movement in funds At 31.12.21 At 1.1.21 Unrestrlcted funds General fund 324050 48482 372532 TOTAL FUND5 324050 372532 Net movement In funds, Included In the above are as follows: Incomln8 Resources resources expended Galns and Mo¥ement In losses funds Unrestrfcted funds General fund 513 6375 54343 48482 TOTAL FUNDS 513 6375 54343 Page 9 THE soaEfY OF CONSULTING MARINE ENGINEERS AND SHIP SURVEYORS - BENEVOLENT FUND REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 Compardtlves for mtr4ement In f￿M￿ Net movements in funds At 31.12.20 At 1.1.20 Unrestrfrted Funds General fund 308761 15289 324050 TOTAL FUNDS 308761 15289 324050 Comparative net movement in funds. included in the abch* are a foll¢Ms: Incomlng Resources Galns and Mo¥ement In resources expended losses funds Unrestrfcted fth General fund 143 28150 15289 TOTAL FUNDS 143 28150 15289 RELATED PARTY OISCLOSURES There were no related party transaction5 for the year ended 31 December 2021 Pa8e 10 **Signature:** Patrick Dolby (Sep 28, 2022 15:25 GMT+1) **Email:** gilldolby@btinternet.com **Signature:** **Email:** nick.gladwell@gmail.com ## Benevolent Fund_Accounst_2021 for signing ## [77] ## Final Audit Report 2022-09-28 Created: 2022-09-28 By: Nick Gladwell (nick.gladwell@gmail.com) Status: Signed Transaction ID: CBJCHBCAABAAw3uCZ3u-OQTREpNqwpMVA6Wpkb93fuex ## "Benevolent Fund_Accounst_2021 for signing [77]" History Document created by Nick Gladwell (nick.gladwell@gmail.com) 2022-09-28 - 12:02:01 PM GMT- IP address: 151.228.19.185 Document emailed to gilldolby@btinternet.com for signature 2022-09-28 - 12:05:48 PM GMT ## Email viewed by gilldolby@btinternet.com 2022-09-28 - 2:22:30 PM GMT- IP address: 80.168.205.194 - Signer gilldolby@btinternet.com entered name at signing as Patrick Dolby 2022-09-28 - 2:25:31 PM GMT- IP address: 80.168.205.194 ## Document e-signed by Patrick Dolby (gilldolby@btinternet.com) Signature Date: 2022-09-28 - 2:25:32 PM GMT - Time Source: server- IP address: 80.168.205.194 - Document emailed to Nick Gladwell (nick.gladwell@gmail.com) for signature - 2022-09-28 - 2:25:34 PM GMT ## Email viewed by Nick Gladwell (nick.gladwell@gmail.com) 2022-09-28 - 2:37:17 PM GMT- IP address: 146.75.167.24 ## Document e-signed by Nick Gladwell (nick.gladwell@gmail.com) Signature Date: 2022-09-28 - 2:39:24 PM GMT - Time Source: server- IP address: 151.228.19.185 ## Agreement completed. 2022-09-28 - 2:39:24 PM GMT