Registered Charity No. 1190632
THE SOCIETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS
BENEVOLENT FUND
REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL
STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE SOCIETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
coKrEKfs OFTHE FINANaAL STATEMEKfs FOR THE
YEAR ENDED 31 DE￿MBER 2024
Page
Ito2
Report of the Trustees
Independent Examiner's Report
Statement of Financial Artivities
Balance Sheet
Note to the Financial Statement
6tolO

THE SOCIETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DE￿MBER 2023
NFORMATIO
ABO
THE CHARITY AS AT 31 D
CEM
ER20
Address
Registered Office:
Unit 5. Prospect Fknuse, 7 Ocean Way
Southampton, S014 3TJ
Telephone: 02380 016494,
e-mail.ceo@scmshq.org
Bankers:
Natwest Bank
Southampton High Street Branch
68 Bar St
Southampton S014 7DS
I Strurture
The Society of Consulting Marine Engineers and Ships Surveyors - Benevolent Fund is a
Charitable Incorporated Organisation under number 1190632. The governing instrument is
the Foundation Constitution.
anisatic
The governing body of The Society of Consulting Marine Engineers and Ship Surveyors-
Benevolent fund ICIOI are The Trustees. The Trustees shall manage the affairs of the CIO
and may for that purpose exercise all the powers of the CIO. It is the duty of each Trustee-
- to exercise his or her powers and to perform his or her fijnctions in his or her capacity as a
trustee of the CIO in the way he orshe decides in good faith would be most likely to further
the purposes of the CIO- and
- to exercise, in the performance of those functions, such care and skill as is
reasonable in the circumstances having regard in particular to:la) any special knowledge or
experience that he or she has or holds himself or herself out as havin& and
Ib} if he or she acts as a Trustee of the CIO in the course of a business or profession, to any
special knowledge or experience that it is reasonable to expect of a person acting in the
course of that kind of business or profession.
erved
Peter G rindey
Roger Janson
ear
Nicholas Gladwell
Patrick Dolby
Approved by order of the Council of the Benevolent Fund on 12th September 2025 and
signed on its behalf bv:
Trustee
Trustee
Page I

THE SOCIETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year
ended 31 December 2024. The trustees have adopted the provtsions of Accounting and
Reporting by Charites.- Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102) {effective l January 2015).
OBJEcfivES AND AcfiviTIES
Obiectives and aims
The objects of the CIO are to promote for the benefit of the public:
the relief of poverty amongst members of the Society and their partners, survTrwng partners,
immediate families and dependants. including those who may be in need by rea50n of youth.
age, ill-health, disability, financial or other disadvBntage-
the advancement of the education of the public in the maritime industry, including but not
exclusively, through the provision of grants. which may include grants, scholarships, and
bursaries for the development or study of maritime-related educational courses; and
such other charitable purposes as the Trustees may determine at their discretion from time
to timel, which may include in particular those which go to promote the maritime industry].
Significant Activities
The Charity has continued during the year to give assistance to anyone who has been
member of the Society or their dependants in the event that they were experiencing serious
financial hardship. There has been a sUPPOrt to other charities in the marine field and the
payment has been made to Catzero charity. Educational grants, scholarships, and bursaries for
the development or study of maritime-related educational courses
have been made to Marchwood Yacht aub, IBTC Donation, Ordan Sail Trust. Financial support
was given to employees in the marine industry due to cost of livrng Crisis.
FINANaAL REVIEW
lrniestmert polity aNI (kniectives
The monies for the time being belonging to the BeneNDlent fund may be invested by the
Trustees in or upon one or more of the stack. shares or securities followin8 - that is to say .
public stocks or funds, or Government securitie5 of the United Kingdom. or upon freehold or
chattel, real securities in England and Wales, or the bonds, debentures, or debenture stocK or
guaranteed 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 examinerfs
report on the accounts
Section A
Independent Examinerfs 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 2024
Charity no
{rf any}
1190632
Set out on pages
io
I report to the trustees on my examinalion of the accounts of the above
chanty (Ihe Trusf) for the year ended 3111212024.
Responslbilftles and As the charity trustees of the Trust, you are resp¢)nsible for the preparation
basis of report of the accounts in accordan￿ wf(h the requirements of the Charities Act
2011 Dhe A￿.
I report in resped of my examination of the Trust's accounts carried out
under section 145 of the 2011 Ad and in carrying out my examination, I
have followed the applicable Directions given by the Charity Commission
under section 145(5)Ib) of the Act.
I have completed my exafflination. I confinn that no material matters have
come to my attention (other than that disclosed below") in connection with
the examination which gp￿ me cause to believe that in. any material
respect..
accountiThJ records were not kept in aC￿￿an￿ wtth section 130 of
the Act or
the accourts do not accord wrth the accounting records
Independent
examinerfs statement
I have no COn￿mS and have come across no other matters in connection
with the examination to which attention should te drawn in order to enable a
proper understa ding of the accounts to be reach&J.
in the brackets rfthey do not apply.
Signed."
1110912025
Name:
Krem
eva
Relevant professional
quallflcatlon(s) or body
Irf any):
FMAAT
Address:
Be 4 One Aox)unting Limited
Langstone Gate. Solent Road, Havant
P09 1TR
IER
October 2018

Soction B
Disclosure
Onty complete rf the examiner needs to highlight matters of concem (see CC32,
Independent examination of charity accounts.. direcbons and guidance for
examiners).
Give here brief details of
any Items that the
examiner wishes to
disclose.
IER
October 2018

THE soaETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
tatement f Financial Activities for the Year End d
De
ember 2024
31112/2024 31/1212023
Total funds Total funds
Notes
Unrestricted fund
Income and EndrMments fr(xn
Donation
Bank Compensation
Investment Income
Total
260
160
260
160
EXPENDrruRE ON
Governance costs
Accountancy fees
Advertising fees
Insurance costs
Consultancy Fees
IT & Consumables
385
401
96
1069
401
96
Charitable Activlties
Financial Assistance
176(X)
821x1
Total
18197
10151
Net gains/llosse5) m Investments
17068
38711
NET INCOME/(EXPENDITURE)
28720
RECONaLIATJON OF FUNDS
Totsl funds Iwht forward
351768
323048
TOTAL FUNDS CARRIED FORWARD
3509
351768
Page 4

THE SOCIEfY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS - BENEVOLENT FUND
Balan￿ Sheet
At 31 December 2024
2024
2023
Notes
Fixed Asset
Investments
349597
342528
Current A55ets
Cash at Bank
Debtors
1253
50
9170
70
Current Liabilities
Creditors
Net Current Assets
1303
9240
Total Assets less Current Liabilities
3509IxJ
351768
NET ASSETS
350
351768
FUNDS
Unrestricted funds
35091x1
351768
TOTAL FUNDS
350900
351768
The financial statements were approved by the Council of the Benevolent fund on
12th September 2025 and were signed on its behalf by P. Dolby & N. Gladwell
Trustee
Trustee
Page 5

THE SOCIETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
REPORTOFTHE TRUSTEES FOR THE YEAR ENDED 31 DE￿MBER 2024
I. ACCOUNTING pouaES
Basis of preparir¥ the f￿rA￿la1 statemerrts
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 1021 Accounting and Reporting by
Charities: Statement of Recommended practice applicable to charities preparing their
accounts in accordance with the Financial Re￿Ing Standard applicable in the UK and
Republic of Ireland IFRS 102) (effective l January 20151. Financial Reporting 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.
Expenditure
Liabilities are reco8nised as expenditure as swn as there is a legal or instructive obligation
committing the Benevolent Fund to that expenditure , it is probable that a transfer of
economic benefits will be required in settlement and the amount of the obligation can be
measured reliably. Expenditure is accounted fLY on an accruals basis and has been classified
under headings that aggre8ate all cost related to the category. Where costs cannot be dirertly
attributed to particular headings they have been allocated to artivities on a basis conslstent
with the use of resources.
The Benevolent Fund has not received any Grants or Public Funding.
Taxation
The charity is exempt from tax on its charitable acti%ryties.
2. INVESTMENT INCOME
2024
2023
Deposit account interest
Page 6

THE SOaEfY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
REPORTOFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
3. COMPARATIVES FOR STATEMEKf OF FINANaAL AcrivmES
Unrestricted fund
INCOME AND ENDOWMEKfs FROM
Donations and legacies
Investment Income
Bank Compensation
Total
260
260
EXPENDrruRE ON
Governance costs
Accountancy fees
Advertising fees
Insurance costs
Consultancy Fees
IT & Consumables
401
96
Charitable artivities
Financial assistance
176CM)
Total
18197
Net gainsl{Iosses) on Investments
17,068
NET INCOME
RECONauATION OF FUNDS
Total f￿XIS ￿ht forward
351768
TOTAL FUNDS CARRIED FORWARD
350900
Page 7

THE SOCIETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
REPORTOFTHE TRUSTEES FOR THE YEAR ENDED 31 DE￿MBER 2024
FIXED ASSET INVESTMENTS
Listed investments
MARKET VALUE
At l January 2024
Additions
Disposals
Revaluations
342.528
10,000
17,068
At 31 December 2024
349.597
NET BOOK VALUE
At 31 December 2024
349.597
At 31 December 2023
342,582
Historical cost at 31 December 2024- £52.297{2023 - £53.846)
2024
2023
Investment assets in the UK
Investment assets outside the UK
349,597
342,528
349.597
342,528
Investment ex￿edIng 5% by Wdlue of the portfolio:
2024
2023
COIF Charities Investment Fund - Accumulation Units
349.597
342,528
There have not been any market ￿dIuation adjustment since the investment has been
purchased. The first revaluation incomellossl is accounted during the Year ended 31
December 2017
Pa8e 8

THE SOCIETY OF CONSULTING MARINE ENGINEERS
AND SHIP SURVEYORS- BENEVOLENT FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
C(xnparatives movemert in fuNIs
Net movements
in funds At 31.12.23
At 1.1.23
Unrestricted Fqmd5
General fund
323048
28720
351768
TOTAL FUNDS
323048
28720
351768
Comparative net m¢)vement in funds. included in the above are a follows:
Incoming Resources
resources
expended
Gains and Movement in
105ses
funds
Unrestrfrted fwKIs
General fund
160
10151
38711
28720
TOTAL FUNDS
160
10151
38711
28720
RELATED PARTY D￿closuRE5
There were no related party transactions for the year ended 31 December 2024
Pa8e 10

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