## **THE MERCHANT SEAMEN’S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE** 

**(A COMPANY LIMITED BY GUARANTEE)** 

## **FINANCIAL STATEMENTS** 

**31ST MARCH 2025** 

**Registered Company Number: 00428236** 

**Registered Charity Number: 207500** 



THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY {INCORPORATED) TRADING AS CARE
ASHORE
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
31ST MARCH 2026
Contents
Page
Referen￿ and administrative infomiation
Chair's report
Trustees, report
Report of the auditor
Statement of financial activities
Balance sheet
Cash flow statement
Notes to the financial statements
10-12
13
14
15
16-25

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIEfY (INCORPORATED) TRADING AS CARE ASHORE
{A COMPANY LIMITED BY GUARANTEE)
REFERENCE AND ADMINISTRATIVE INFORMATION
The Merchant Seaman's War Memorial Society (Incorporated) Trading as Care Ash0￿ was formed in 1947
as a company limited by guarantee. It is a charity, with the registered number 00428236.
Trustees
Mr V Bick, Chair
Ms A Goo(tsin
Mr A W Mackenzie (appointed 13 Decemb8r 2024)
MrA C Speirs
Mr C P Stracey (appointed 25 September 2024)
Mr K Usher
Mr R Walker (resigned 13 De￿mber 2024)
Mr N C Waterson
Company Reglstered Number
00428236
Charlty Reglstered Number
207500
Company secretary
Mr J Nicholson
Reglstered Offlce
"Springbok-Radcliffe
Springbok Farm Estate
Alfold
nr Cranleigh
Surrey
GU6 8EX
Chlef executlve offlGer
Mr J Nicholson
Page 1

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIEfY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
REFERENCE AND ADMINISTRATIVE INFORMATION (CONTINUED}
Independent audltor
Xeinadin Audit Limited
5 Robin Hood Lane
Sutton
Surrey
SM12SW
Bankers
Natwest PLC
Stocklund Square
Cranleigh
Surrey
GUS BRH
CAF Bank
30 Old Broad St
London
EC2N 1HT
SoliGitor8
Penningtons Manche LLP
Beaufort Hou88
31 Chertsey Street
Guildford
Surrey
GU14HD
Page 2

THE MERCHANT SEAIJIEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT
Vlncent Bick, Trustee
l am pleased to reF)Ort that 2025 has been another busy year and, despite Challenging operating conditions,
has been one of the charty's best in recent memory. The charity has enjoyed greater stability as a result of
our new Chief Ex8CUtive, Joe Nicholson joining in August 2024 who brings with him a breadth of knowledge
and experience in providing excellent accommodation and services to older persons.
In a firTancially strong position with healthy reserves and supported by the dedicated Care Ashore team and
the committed and knowledgeable trustees, which includes 2 new trustees, Colin Stra￿Y and Alistair
Mackenzie, we are well placed to deliver on our plans over the next 24 months to invest in the residential
accornmodation to ensure all homes are fit for the future.
A particular highlight of the last year was the successfvl completion of our first ever resident satisfaction
survey. This data led approach has provided the charity with meaningful and statistically significant
information from those we serve that will guide Ihe creation of a new strategic plan and help shape the
services delivered.
The ben8ficiary survey combined with the significant investment overthe year in complian￿, including a new
fire risk assessment, legionella risk assessment and over £50,000 of new fire doors, generously funded by
the M NWB, signal8 a clear direction of travel, where the safety and Service delivered to our residents come
first.
I wish to express my gratitude on behalf of everyone at Care Ashore to Richard Walker who stepped down
from the board this year and to David Harvey who managed the charity so well as interim-CEO prior to Joe
Nicholson's appointment. Your support and expertise have been crucial in propelling the charity to the
position of strength we enjoy today.
The impendlng costs of further Improvement works as well as the need to enhance the energy efflclency of
our buildings in orderto move towards the Government's aim of being carbon neutral will all add subslantially
to our costs In the next few years. Fortunately, our current financial strength allied with an excellent team
gives me confidence that we will be able to meet these challenges whilst still providing a first-rate service to
our valued residents.
Hlstory of the Society
Originally conceived by the founder of the National Sailors, and Fireman's Union, Mr J. Havelock Wilson
C.B.E MP, in 1917 8 promlnent ship owner offered a building that was to become the first convalescent home
for Merchant Seafarers in Limpsfield, Surrey.
Wlth WWII increasing the number of those being permanently incapacitated, The Union purchased and
converted their war time Headquarters, Sachel Court Estate, Alfold, Surrey into a permanent Rehabilitation
and Training Centre as a memorial to those seamen who had lost their lives and in gratitude to those who
survived but sacrificed their health by serving their country. At this time, the people of the Union of South
Africa in their appreciation, through a Navy Week Campaign raised funds which were contributed to the
scheme. From 1947 through to 1993 the training scheme re-trained seamen into either agriculture or
horticulture, who then went on to successfully gain employment away from the sea.
Since its inception, the charity has gone through a great deal of change though the core mission remains the
same, to support seafarers. The organisation now focuses on providing sheltered housing and support to
seafarers, with the provision of holidays for those who do not require long term acoommodation but would
benefft from a break in the tranquil setting of the estate
Page 3

THE MERCHANT SEAMEN'S WAR MEMORIAL socieTY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED 8Y GUARANTEE)
TRUSTEES, REPORT
The Trustees are pleased to present their annual report (including the directors, report as required by
company law) together with the audited financial statements of the charitable company for the year ended 31
March 2025. The Trustees confirm that the Annual Report and financial statements of the company comply
with the current statutory requirements, the requirements of the company's goveming document and the
provisions of the Statement of Recommended Practi￿ (SORP), applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Care Ashore's vision is to deliver high quality, support8d, residential accommodation to former seafarers and
their dependants. ensuring all those who have a connection to the sea and are in need, have a home for life.
In addition to providing permanent accommodation and welfare serrfices, the charity also facilitates respite
stays for those wishing to recuperate on the estate.
The Objectlves and Values of Care Ashore
Objective8
The Objects of the Charlty are, for the public benefrt, to provide exclusively charitable support, seNic88 and
grants to:
those men and women who are or have been seafarers, and thelr dependants, who are in need of
assistance by the provision of accommodation, financial allowances or grants and in such other
ways as the Board think fit. and
those men and women who are or have been seafarers and who are sick, disabled, aged or infirm
or who require rest or convalescence by the provision and maintenance of a convalescent home or
resl home or in such other ways as the Board think fit;
and to otherwise extend its service8 to those persons having an appropriate connection with the sea as the
Board thinks fit.
PUBLIC BENEFIT
The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011, in having
due regard to the Charity Commission's General Guidance on Public Benefit in setting objectives and
planning for activities and are reporting this h8re as they are required to do under the same diTeclwe.
Maln activities undertaken to further the charity's purposes for the public benefit
The high level of service delivered to the beneficiaries ensures that poverty, homelessness and isolation are
reduced. The support provided to beneficiaries by the charity enables individuals to remain independent in
their own homes for as long as possible, ratherthan moving into an additional care environment. The Trustees
review the charty's aims and objectives each year to ensure the activities and seNices provided are in
keeping with the core values of the charity, and, in 25126 will create a new strategic plan. The Trustees review
the outcomes achieved over the past twelve months and evaluate the success of each activity provided,
reviewing the benefits brought to those individuals on whom our services are focused.
Page 4

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COPdlPANY UMITED BY GUARANTEE
TRUSTEES, REPORT
STATEMENT OF FUNDRAISING PRACTICES
Care Ashore benefrts from many people's generosity and we are extremely grateful for their continued support
through donations, legacies and fundraising events. Due to the limited nature of the fundraising activities
currently undertaken, the charity does notformally monitor compliance with the Code of Fundraising Practice.
The charity does not consider that any of its fundraising activities constitute unreasonable intrusion on a
person's privacy, unreasonably persistent approaches or undue pressure to give and has not received any
complaints in respect of this during the year. The charty does not work with any commercial participators or
professional fundraisers.
ACHIEVEMENTS & PERFORMANCE
Achievements for 2024.2026
The effective management of investments has ensured a new source of income to provide long tenTJ
financial seourity.
Completion of the guest room remodelling has improved the stsndard of accommodation offered and
strengthened future income potential.
New fire doors were installed throughout the principal residential accornrnodation, ensuring the safety of
residents and visitors to the site.
Improved approach to asset management, reducing repair times and getting thing8 "right first time.
increasing resident satisfaction
Appointment of a CEO experienced in delivering excellent customer service and service improvement
programmes.
Investment in a dedicated housing management System to improve compliance, governance and resident
engagement.
The completion of our first ever, independent, resident satisfaction surrfey yielded an overall satisfaction
rate of 780
Volunteer8
Volunteering has grown significantly over the year in partnership with Voluntary Action South West Surrey.
Volunteers have attended and generously helped to complete tasks in the grounds. undertaking cyclical
decoration, gardening projects and even helping the charity restart its beekeeping programme. Alongside
this. several of our residents regularly give up their time to assist the Estates team.
Investment policy and performance
The charity has over the years invested in properties that are let to raise income in support of its objectives.
The return from these investments have been maximised with rent values Measured against market
valuations in the lopAI area.
Page 5

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT
FINANCIAL REVIEW
The result for the year shows a surplus of £164,009 compared to a loss of £348,062 for the prior year. The
result for the year benefits from an increase in the value of inveslments (mainly our properties) of £453,600
(prioryear£85,252). so the underlying Ioss from operations would have been £289,591 {priory8ar £433,314).
This demonstrates that progress has been made in reducing the deficit during the year and the trustees are
confident that the year to 31 March 2026 will show even further progress.
The charty held cash exceeding £3m at the balance sheet date, which is the cash figure on the balance
sheet and the investment figLAre (cash deposits). The cash used in operations appears to be £689,232 (prior
year £725,511) but the trustees would highlight that the charity generated £344,528 (prior year £281,385)
from activities that are all designed to support the charity so the cash used in the year is Closer to £325,000
(prior year £445,000).
Prlnclpal fundlng
The main source of income is secured through the accommodatlon and buslness units on the estate. Our
annexe in the main house provides a third of our income and accommodates some of our more vulnerable
residents who benefit greatly from the facilities provided. These include having direct ac￿SS to staff, social
room, library and most importantly our dining facilities which provide an essential social experience for our
residents. There are times when exlernal influences have an impact on everyday operations, such as
statutory payments being delayed that must be managed with consideration and care.
Reserves Pollcy
The trustee's policy is to maintain reseries at a level sufficlent to support both Capital Projects and a
renovation programme, plus to build reserves such that there are Sufficient funds available to enable
continued operations for a period of six months.
Total funds at 31 March 2025 were £12,576,934 (2024.. £12.412.925) of which £28,400 (2024: £3,400) were
restricted funds. Of the unrestricted funds held, £9,671,832 (2024.. £9,180,623) weTe tied up as tangible fixed
assets and investment property. There are free reserves of £2,874,644 (2024., £3,228,902), Trustees will be
deploying some of these funds for a systematic refurbishment and upgrading of the various properties on the
estate, starting with refurbishment of beneficiaries, accommodation.
As discussed later, the trustees continue to work on plans for the long term with the aim to increase income
whilst delivering its services in an efficient manner in order to build up both the free reserves of the charity
and income generating investments to diversity the income SoUr￿S of the charity.
Rlsk Management
The trustees have a risk management strategy that comprises of:
A Finance Committee tasked with scrutinising the refreshed Risk Register every 6 months
A regular review of the top risks conducted by the board
Clear mitigation measures to minimise the potential impact on the charity should risks materialise
The Trustees have assessed the major risks to which the charitable company is exposed, in particular those
related to the operations and finances of the charitable company and are satisfied that systems and
procedures ale in Pla￿ to mitigate our exposure to the major risks. A key element of the management of
financial risk is the setting of a reserves policy and its regular review by trustees and the charity is more
robust in this respect.
Page 6

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY IINCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT
Rlsk Management (contlnued)
The Major financial risk has been avallability of cash to fund operatlons. Thls has been mltlgated by the
reduction of costs, regular information, the drawdown of loan income and the land disposal to Thakeham
(2023> for affordable housing which has recapitalised the charity.
Particular attention is also given to non-financial risks arising from fire, health & safety of residents, staff and
visitors and food hygiene.
Golng concern
After making appropriata enquiries, the trustees have a reasonable expectation that the charitable company
has adequate resources to continue in operational existence for the foreseeable future. For this reason they
continue to adopt the going concem basis in preparing the financial statements. Further details regarding the
adoption of the going concem basis can be found in the Accounting Policies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing DoGument
The Merchant Seamen's War Memorial Society trading as Care Ashore is a charitable company limited by
guarantee governed by its Articles of Association adopted on 2 June 2021. It is r8gistered as a charity with
the Charrty Commission as charity number 207500.
The prlnclpal objects of the charftable company are to provlde accommodation, financi81 support and a rest
home for seafarers and their dependants.
Appointment of Trustees
The directors of the charitsble company (the Charity) are its Trustees for the purpose of the charity law and
throughout this report are colleclively referred to as the Trustees.
Members of the Board shall be appointed by the Board and selected for appointment primarily on the basis
of the skills and experience required by the Board in order to carry out their responsibilities effectively in the
best interest of the Charity.
The Board when complete consists of at least 6 and not more than 12 persons, being individuals who are
over the age of 18, all of whorn must support the Objects. If a member of the Board is a corporate body it
must act through a named representative whose contact details are notified to the Board. The Chairman will
be appointed as laid down in the Articles.
Trustee Inductlon and Tralnlng
New trustees undergo a period of orientation to brief them on their legal obligations under the charity and
Gompany law, the content of the Memorandum and Articles of Association, the committee and decision
making pro￿sS, the business plan and updated on the recent financial performance of the charity- During
the induction period they will meet key employees and other trustees. Trustees are encouraged to attend
appropriate external training events where these will facilitate the undertaking of their role. It is intended that
the four recently recruited Trustees will receive training in the next financial year.
Page 7

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT
Organlsatlonal structure and declslon maklng
The board of trustees, which can have up to 12 members, administers the charity. The board meèts bi-
monthty and the sub-committee meet more regularly to cover the development, membership, finance and
audit. Th6 Chief Executive is appointed by the trustees to manage the day-to-day operations of the charity.
To facilitate effective operations, the Chief Executive has delegated authorty, within the terms of their
delegation approved by th6 trustees, for operational matters including finance, employment, and
management of the complete operations of the organisation.
Pay pollcy for senlor staff
The charity's senior staff pay, and benefts are set by reference to the annual surveys of information from
Incomes Data SeNices, local information or other relevant bodies and are consistent within the support and
housing sector. The charity always aims to offer terms equivalent to or exceeding the market rate for the
charity sector subject to its financial capability.
Salaries are controlled and monltored by:
a) Measurement
Annual review and benchmarking of salaries and benefits through appropriate comparisons with other
levant data.
b) Reference:
Incomes Data Ser￿iCe8, local infomiation or other relevant bodies and shall be consistent within the support
and housing sector.
c) Audit:
Comparlson and calculation criteria held by CEO.
PLANS FOR FUTURE PERIODS
The trustees are focusing on the fLrture sustainability of the charity by generating income from the estate and
by limited land disposals for housing to provide a solid capital base, with prudent investment planning. This
will ensure Ihe service provided to the beneficiaries is of a high standard. The creation of a new strategic plan
in 25126 will create a road map for the future of the charity, detailing how services will be delivered and
accommodation upgraded to make every home fit for purpose.
Page 8

THE MERCHANT SEAMEN'8 WAR MEMORIAL SOCIETY (INCORPORATEDI TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible
for preparing the Trustees, report and the financial statements in accordance with applicable law and United
Kingdom AcGounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company
law the Trustees must not approve the financial statements unless they are satisfied that they give a true and
fair view of the state of affairs of the Company and of its incoming reSoUr￿S and application of resources,
including its income and expenditure, for that period. In preparing Ihese financial statements, the Trustees
are required to:
select suitable accounting policies and then apply them conslstently,,
observe the methods and principles of the Charities SORP (FRS 102)"
make judgements and accounting estimates that are reasonable and prudent.,
state whether applicable UKAccounting Standards (FRS 102) have been followed. subjectto 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
Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficientto show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them to ensure that Iha financial statements comply with the Companies Act 2006,
They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
DISCLOSURE OF INFORMATION TO AUDITORS
The trustees who held office at the date of approval of this Trustees, Report confirm that. so far as they are
individually aware, there is no relevant audit infomiation of which Care Ashore's auditors are unaware, and
each trustee has taken all reasonable steps that they ought to have taken as a trustee to make themselves
aware of any relevant audit information and to establish that the Society's auditors are aware of the
information.
AUDITORS
A resolution will be proposed at the Annual General Meeting that Xeinadin Audit Limited are to be appointed
as auditors to the charty for the ensuing year.
This report was prepared in accordance with the special provisions available to small companies, approved
by order of the members of the board of Trustees and signed on its behalf by:
Mr Vincent Bick
(Chair of Trustees)
Date..
Page 9

REPORT OF THE INDEPENDENT AUDITOR
TO THE MEMBERS OF
THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY UMITED BY GUARANTEE
Oplnlon
We have audited the financial statements of The Merchant Seaman's War Memarial Society (Incorpoiated)
Trading as Care Ashore (the 'charity') for the year ended 31 March 2025 which comprise the Statement of
Financial Activities, the Balance Sheet, the Ststement of Cash Flows and the notes to the financial
statements. including a summary of significant accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard applicablg in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting practi￿).
In our opinion the financial statements:
give a true and fair view of thè state of the charitable company's affairs as at 31 March 2025 and of
its incomlng resources and application of reSoUr￿S for th8 year then ended,,
have been properly prepared in accordance with United Kingdom Generalty AC￿pted Accounting
Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of Ihe financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial Statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfonned, we have not identified any material uncertainlies relating to events
or conditions that, individually or collectively. may cast significant doubt on the Charity's ability to continue as
a going concern for a period of at least 12 months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other Information
The other infomiation comprlses the Information included in the annual report, including the trustees, report,
other than the financial statements and our auditor's report thereon. The trustees are responsible for the
other information contained within the annual report. Our opinion on the financial statements does not cover
the other information and, except to the extent otherwise explicitly stated in our report. we do not express
any form of assurance conclusion thereon.
Our responsibilty is to read the other infonnation and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtsined in the course of the audit, or
otherwise appearsto be materially misstated. If we identify such material inconsistencies or apparent rnaterial
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other infomiation, we are required to report that fact.
We have nothing to report in this regard.
Page 10

REPORT OF THE INDEPENDENT AUDITOR
TO THE MEMBERS OF
THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEEI
Opinions on other mattern prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of our audit.,
the information gNen in the trustees, report. vthich includes the directors, report prepared for the
purposes of company law, for the financial year for which the financial statements are prepared is
consistenl with the financi81 statements,. and
the directors. report included within the trustees, report has been prepared in accordance with
applicable legal requirements
Matter8 on which we are required to report by exceptlon
In the light of the knowledge and understanding of the charity and its environment obtained In the course of
the audit, we have not identified material misstatements in the directors, report included with the trustees,
report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you rf, in our opinion:
adequate and proper accounting records have not been kept, or returns adequate for our audit have
not been received from branches not visited by us,. or
the financial statements are not in agreement with the accounting records and retums; or
certain disclosures of trustees. remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit. or
the trustees were not entitled to prepare the financial statements in accordance wilh the small
companies regime and take advantage of the small companies exemptions in preparing the trustee8'
report and from the requirement to prepare a strategic report.
Responslbllltles of trustses
As explained more fully in the trustees, responslbllltles statement, the trustees, (who are also the director8 of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
trustees determine is necessary to enable the preparation of financial statements that are free from material
misstaternent, whether due to fraud or eTror.
In preparing the financial statements, the trustees are responsible for assessing the charity's abilty to
continue as a going cOn￿rn, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate Ihe company orto cease operations,
or have no realistic alternative but to do so.
Auditor'8 responsibilities for the audlt of the flnanclal ststements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes
our opinion, Reasonable assurance is a high level of assurance, bLrt is not a guarantee that an audit
conducted in accordance with ISAS (UK) will always detect a material misststement when it exists.
Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate.
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company, we identified that the principal risks of non-compliance with
laws and regulations related to taxation, employment and financial reporting legislation and we considered
the extent to which non-compliance might have a material effect on the financial statements. We also
considered those laws and regulations that have a direct impact on the preparation of the financial statements
such as the Companies Act 2006 and Charities Act 2011.
Page 11

REPORT OF THE INDEPENDENT AUDITOR
TO THE MEMBERS OF
THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
We assessed the susceptibility of the company's financial statements to material misstatement, including
obtaining an understanding of how fraud might occur, by making enquiries of management, considering the
internal controls in place and discussion amongst the engagement team.
We determined that the principal risks were related to:
Valuation of investment property
Identification of restricted expenditure
Presentation of separatsly disclosed items
Management override of controls
In response to the risks identified we designed procedures which included, bLrt were not limited to:
challenging the estimated valuation of investment property
agreeing financial statemenl disclosures to underlying supporting documentation
reviewing Trustees meeting minutes
evaluating the charity's internal controls
There are inherent limitations in the audit procedures described above. Th8 more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-
compliance. Material misstatements that arise due to fraud can be harder to detect than those that arlse from
error as they may Involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financlal
Reporting Council's wabsite at,. http.Ilwv￿.frc.org.UkIauditOrSresP0￿SIbIIitIes. This description forms part of
our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006 and regulations made under thatAct. Our auditwork ha5 been undertaken
so that we might state to the charitable company's members those matters we are required to state to them
in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or
assurne responsibility to anyone other than the charitable company and its members as a body, for our audit
work, for this report, or for the opinions we have formed.
Paul Newton FCA (Senlor Statutory Audltor)
for and on behalf of Xeinadin Audlt Llmfted
ststutory Audltor
Chartered Accountants
5 Robin Hood Lane
Sutton
Surrey
SM12SW
Date: 24 October 2025
Page 12

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BYGUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST MARCH 2025
Unrestricted Restrlcted Total Unrestrlcted Restrlcted Total
Funds
Funds
2026
Funds
Funds
2024
Note
INCOME FROM
Donations and legacies
Charitable activities
Other trading activities
I nvestments
Other income
135,788
667,927
122,172
344,528
71,900 207,688
12,793
667,927 628,176
122.172 109,205
344,528 281,670
3,644
16,437
628,178
109,205
281,670
Total Income
1279 041
71900 1350 941 1039 839
3 644 1043 483
EXPENDITURE ON..
Charitable activities:
Raising fvnds
Charitable activities
154,715
9 1485817
154,715 146,422
1485 817 1330 131
146,422
244 1330 375
Total expendltu re
1,640,532
1,640,532 1,476,553
244 1,476,797
Gain on investment8
453 600
453 600
8525
Net Income
92,109
71,900 164,009 { 351,482)
3,400 (348,062)
Transfers
46 900
Net movement In funds
139,009
25,000 164,009 (349,046)
984 (348,062)
Reconciliation of fund8
Funds balances brought ft)rward 12 409 525
340012412925 12758571
241812 760 987
Funds balances carrled forward ILfil￿ aLaooiLfizL2aa IL1Q￿ aaooii£i
There were no discontinued or acquired activities during the current year.
Page 13

THE MERCHAMf SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED 8Y GUARANTEE
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Flxed assets
Tangible assets
Investments
Inveslment property
13
15
14
1,071,933
16,439
8 583 460
9,671,832
1.053,907
15,516
8 111200
9,180,623
Current assets
Stocks
Debtors
Investsnents
Cash at bank and in hand
16
13,801
17
203,804
18 1,703,859
1 133 593
3,055,057
12,305
58,216
3 308 793
3,379,314
Creditors: amounts falling due
within one year
19 { 149 955
147 012
Net current a888ts
2 905 102
3 232 302
Totsl assets less current Ilabllltles
12,576.934
12,412,925
Credltors: Amounts falllng due
after more than on8 year
Net a888ts
Funds
Restricted funds
Unrestricted funds
Total fund8
20
20
28,400
2 548 534
3,400
12 409 525
The financial statements were prepared in accordance with the provisions
applicable to entities subject to the small companies regime.
The financial statements were approved by the trustees on 22 October 2025 and
signed on their behalf by:
Mr V Bick
Chair of Trustees
Company Number: 00428236
Page 14

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY UMITED BY GUARANTEE)
CASH FLOWSTATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
2026
2024
Cash used In
operating actlvities (See below)
(669,236)
(725,511)
Cash flows from Investing activitles
Dividends, interest and rents from investments 295,123
Payments to acquire tangible fixed assets
( 77,645)
Payments to acquire current investments
(1,703,859)
Payments to acquire investsnents
281,385
(68,180)
Cash (used Inyprovlded by Investing actlvltles
(1 ,505,964)
213.205
Cash flows from financlng actlvltles
Repayments of Ix)rrowing
Cash used in financlng actlvltles
878 636
Net cash outtlow
(2,175,200)
(1,190,942)
Cash and cash equlvalents brought forward
330879
449973
Cash and cash equlvalents carried forward
Cash flows from operating actlvltles
2026
2024
Net incomel(expenditure)
Depreciation
Dividends, interests and rents frorn investments
Loss on the sale of fixed assets
Gain on revaluation of fixed asset investments
Increase in stocks
Increase in debtors
Increasel(decrease) in creditors
Cash used In operating activitles
164,009
59,619
(344,528)
(348.062)
48,798
(281,385)
4,888
{ 85,252)
{ 1,726)
{ 12,438)
50 334
(453,600)
{ 1,496)
( 96,183)
Page 15

THE MERCHANT SEAMEN'SWAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CAREASHORE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
ACCOUNTING POLICIES
1.1 Basls of preparation of flnanclal statements
The financial statements 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 Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102) and the Companies Act 2006.
The Merchant Seamen's War Memorial Society (incorporated) trading as Car8 Ashore meets the definition
of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or
transactlon value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling, which is the functional currency of the charity, and have
been rounded to the nearest £1.
1.2 Company status
The charltable company is a company limited by guarantee. The members of the company are the Trustees
named on page 1. In the event of the charitable company being wound up, the liability in respect of the
guarantee is limited to £1 per member of the charitable company. The company is incorporated In England
with registered office of Springbok Farm Eslate, Alford, Cranleigh, Surrey, GU6 8EX.
1.3 Golng concern
The trustees consider that there are no material uncertaintles regarding the charity's ability to continue as a
going concern. In reaching that conclusion the trustees have considered any ongoing impact of COVID-19
and any economic downturn on activities and cashflows for a period of at least one year from the date of
approval of the financial statements.
The trustees have considered several scenarios that could occur over that period. Any repeat of COVID
would affect the charity's ability to carry out normal operations. It would also generate negative cashflows In
possible loss of room hire, catering operations and redU￿d investment income, offset by cost savings.
Changes to the charty's service delivery model would also be required to ensure it continues to provide for
the Tnost vulnerable. The trustees are confident that the strength of the charity's balance sheet- specifically
the level of its unrestricted funds will ensure its ability to continue as a going concem for 8 period in excess
of 12 months from the reporting date.
1.4 Income
All income is recognised once the charitable company has entitlement to the income, it is probable that the
income will be received, and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt
and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy
8XiSts when the charitable company has sufficient eviden￿ that a gift has been left to them (through
knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that
the propety in question will not be required to satisfy claims in the estate. Receipt of a legacy must be
recognised when it is probable that it will be received and the fair value of the amount receivable, which will
generally be the expected cash amount to be distributed to the charitable company, can be reliably measured.
Page 16

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
ACCOUNTING POLICIES (continued)
Income tax recoverable in relation to investsment income is recognised at the time the investrnent income is
receivable.
other income is recognised in the period in which it is receivable and to the extent the goods have been
provided or on completion of the service.
1.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, 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 classified by activity. The costs of each activty are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activity. Direct Costs attributable to a single
activity are allocated directly to that aclivity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on
basis consistent with the use of resources being the basis of staff time spent.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of
disseminating infomiation in support of the charitable activities. Support costs are those costs incurred
directly in support of expenditure on the objects of the charilable company. Governance costs are those
incurred in connection with administration of the charitable company and compliance with constitutional and
statutory requirement8.
Costs of raising voluntary income are costs incurred in attracting voluntary income, and those Incurred in
trading activities that raise funds.
Charitable activities and Governance costs are costs Incurred on the charitable company's operations,
including support costs and costs relating to the governance of the charitable company apportioned to
charitable activities.
Grants payabl8 are charged in the year when the offer is made. No conditional grant offers are made.
1.6 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by
the charitable company. this is normally upon notification of the interest paid or payable by the institution with
whom the funds are deposited.
1.7 Tanglble flxed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cast model, tangible fixed
assets are measured at cost less accurnulated depreciation and any accumulated impairment losses. All
costs incurred to bring a tangible fixed asset into its intended working condition should be included in the
measurement of cost.
At each reporting date the Charitable company assesses whether there is any indication of impairment. If
such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less
costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the
recoverable amount.
Page 17

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
ACCOUNTING POLICIES (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their
estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following bases:
Freehold property
Motor vehicles
Equipment
2_5 % on a reducing balance basis
250/0 on a reducing balance basis
25 % on a reducing balance basis
1.8 Flnancial Instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.9 Investments
Fixed asset investments are a fonn of financial instrument and are initlally recognlsed at their transaction cost
and subsequently measured at fair value at the Balance Sheet date, unless the value can not be measured
reliably in which case it is measured at cost less impairment, Investment gains and losses, whether realised
or unrealised, are combined and presented as 'Gainsl{Lo8ses) on investments, in the Statement of Financial
Aclivities.
Investment property Is carrled at fair value determined annually by the Trustees, derived from current market
rents and investment property yields for comparable real estate, adjusted if necessary for any difference in
the nature, locatlon or condition of the specrfic asset. No depreciation is provided. Changes in fair value are
recognised in the Ststement of Financial Activities.
Current asset investments are cash equivalents held on deposit where the maturity date was rn0￿ than 3
months and less than 13 months at the point of opening the deposit.
1.10 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and
slow-moving stocks. Cost includes all direct costs.
1.11 Debtors
Trade and other debtors are recognlsed at the settlement amount.
1.12 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of
three months or less from the date of acquisition or opening of the deposit or similar account.
1.13 Llabilities
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it
is probably that a transfer of economic benefrt will be required in settlernent, and the amount of the settlement
can be estimated reliably.
Liabilities are recognised at the mount that the charitable company anticipates it will pay to settle the debt or
the amount it has re￿Ived as advanced payments for the goods or services it must provide.
Page 18

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
ACCOUNTING POLICIES (continued)
1.14 Operatlng leases
Rentals paid under operating leases are charged to the Ststement of financial activities on a straight-line
basis over the lease term.
1.15 Pensions
The charitable company operates a defined conlribution pension scheme, and the pension charge represents
the amounts payable by the chaiitable company to the fund in respect of the year.
1.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charitable company and which have not been designated for
other purposes.
Restricted funds are funds whlch are to be usad in accordance with specific restrictions imposed by donors
or which have been raised by the charitable company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted fund is
set out in the notes to the financial statements.
CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENTS
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are b81i8V8d to be reasonable under the circumstances.
Critical accounting estimales and assumptions:
The charitable company makes estimates and assumptions concernlng the future. The ￿SUlting accounting
estimates and assumptions will, by definition, seldom equal the relatod actual results. The estimates and
assumptions that have a signrficant risk of causing a material adjustment to the carrying amounts of assets
and liabilities within the next financial year are discussed below.
Tangible fixed assets are stated at their deemed cost less provlslon for depreciation. In determining the
depreciation rate, estimates are made for the useful life of the asset and its residual value based upon factors
such as the expected use of the acquired asset and market conditions.
Investment properties are stated at fair value which is sensitive to fluctuations In the property sales and
rental market.
Page 19

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
3 INCOME FROM DONATIONS AND LEGACIES
Unrestrlcted
Funds
Restricted
Funds
Totsl
2025
Total
2024
Donations
Legacies
Grants
4,829
4,829
8,200
4,593
130 959
71900 202 859
INCOME FROM CHARITABLE ACTIVITIES
2025
2024
Beneficiary accommodation and w8lf8re
Rent and services
Bar and social club
549,200
118727
515,855
112321
INCOME FROM TRADING ACTIVITIES
2026
2024
other fundraislng actlvlties
Camping, clay shooting and fishing
Solar panel Income
45,666
74,210
45,892
61,684
INVESTMENT INCOME
2025
2024
UK Investm8nt properties
UK listed and unlisted investments
UK Cash
268,950
196
271.710
285
OTHER INCOME
2025
2024
Profit on disposal of fixed assets
Electricty recharge
EXPENDITURE ON RAISING FUNDS
2025
2024
Allocated ￿ntrallY incurred costs
Fund raising trading expenses
Trading expenses
134,045
14,909
120,141
12,388
Page 20

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
ANALYSIS OF EXPENDITURE
Ralslng
funds
2025
Charitable
actlvltles
2026
Total
funds
2025
Total
funds
2024
Catering
Social club and bar cost of sales
Property Expenses
Vehicle hire and expenses
Office administration
Legal and professional
Bank charges
Interest payable
Wages and salaries
National Insuran
Pension cost
(Gain)Iloss on disposal of Fixed Assets
Depreciation
Fundraising trading expenses
Trading expenses
Grants to beneficiaries
Governance costs
10,333
10,333
101,506 101,506
453,947 498.843
25,111
27,594
50,054
55,004
113,437 124,656
10,418
11,448
9,003
97,919
430,226
18,753
105,912
116,090
8,608
32,050
515,538
43,091
10,942
4,888
48,798
12,388
13,893
44.896
2,483
4,950
11.219
1,030
57,526
5,390
1,185
581,656 639,182
54,494
59,884
11,983
13,168
5,366
20,670
54,253
3,677
59,619
24,347
2,033
2,033
10 AUDITORS, REMUNERATION
Governance costs Include auditors, remuneration of £8,700 (2024: £8.300).
11 STAFF COSTS
2026
2024
Salaries and wages
Social security costs
Contribution to defined contribution pellslon schemes
639,182
59,884
515,538
43,091
The average number of employees durlng the year
was made up as follows:
2026
2024
No.
Average number of employees
No employees received remuneration of more than £60,000 during the year. (2024.. 1 employee
received remuneration between £70,000 and £80,000)
Included in the above staff costs are redundancy payments totalling £nil (2024.. £20,000).
Page 21

THE MERCHANT SEAMEN'S WAR MENIORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
11 STAFF COSTS (continued)
Key management personnel compensatlon
Key management personnel include those persons having authority and responsibility for planning,
directing and controlling the activities of the entity, directly or indirectly. The Trustees, the chief
executive officer and the deputy chief executive officer are considered to be the key managernent
personnel of the charity.
Compensalion includes all employee benefits, including salaries. pension and benefits in lieu of their
work as well as employer's national insurance contributions. The amount of compensation payable
during the year In respect of key management amounted to £61,575 (2024: £79,022).
12 TRUSTEES, REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2024". £nil), nor were any
expense8 reimbursed to them.
13 TANGIBLE FIXED ASSETS
Freehold Motor
property vehlcle8 Equlpment
Total
Cost
At 1st April 2024
Additions
Disposals
At 31 st March 2025
1,542,037
6,000 427,290
77,645
1,975,327
77,645
1542 037
6 000 504 935
Depreciation
At 1st April 2024
Provided for the year
Disposals
At 31st March 2025
576,525
20,079
4,577 340,318
356 39,184
921 .420
59,619
4 933 379 502
981039
Net book value
At 31st March 2025
At 31 st March 2024
14 INVESTMENT PROPERTY
Freehold
Investment
Property
At 1 April 2024
Additions
Disposals
Revaluation
At 31 March 2025
8,111,200
19.583
452 677
The investment properties were independently valued by Antholly Richard Jamieson MRICS, a RICS
registered valuer for and on behalf of Clarke Gammon LLP in 2023. The value has been updated to a
year end market value by the trustees using rates of increase published by RICS.
Page 22

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
15 INvESTME￿rs
Llstsd
Investments
Market Value
At 1 April 2024
Revaluation
At 31 March 2025
15,515
923
Included in investments is a £1 investment in the subsidiary Springbok Estates Ltd.
16 STOCKS
2026
2024
Food and beverage
17 DEBTORS
2026
2024
Trade debtors
Other debtors
Prepayments
87,991
74,816
41,166
8,979
18 CURRENT ASSEf INVESTMENTS
2026
2024
Cash on deposit
19 CREDITORS: Amounts falling due within one year
2026
2024
Trade creditors
Other taxes and social security
other creditors
Accruals and deferred income
79,747
16,091
21,690
89,501
12,735
14,422
Page 23

'Ii I
000 10
000
*oo
i<

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
21 ANALYSIS OF NET ASSETS BEfwEEN FUNDS- 2025
Restrlcted Unrestrlcted
Total
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within
one year
1,071,933
16,439
8,583,460
3,026,657
1,071,933
16,439
8.583,480
3,055,057
28,400
149 955
( 149 955
ANALYSIS OF NET ASSETS BETWEEN FUNDS- 2024
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within
one year
1,053,907
15,516
8.111,200
3,375,914
1,053,907
15,516
8,111,200
3,379,314
3,400
147 012
22 COMMITMENTS UNDER OPERATING LEASES
The total future minimum payments under non-cancellable operating leases are as follows.,
2026
2024
Within one year
Between two and five years
4.356
6,323
23 RELATED PARTY TRANSACTIONS
There are no related party transactlons requiring disclosure.
24 PENSION COMMITMENTS
The charitable company operates a defined contributions pension scheme. The assets of the scherne
are held separalely from those of the charitable company in an independently administered fund. The
pension cost charge represents contributions payable by the charitable company to the fund and
amount&J to £13,168 (2024: £10,942). Contributions totalling £3,359 (2024.. £2,230) were payable to
the fund at the balance sheet date.
Page 25

Xeinadin Audit Limiled
5 Robin Hood Lane
Sutton
Surrey
SM12SW
Date: 22 October 2025
Dear Sirs
This representalion letter is provided in connection with your audit of Ihe financial statemenls of
The Marchant Seamen's War Memorial Society (Incorporatad) for the year ended 31 March
2025 for the purpose of expressing an opinion as to whether the financial statements give a
true and fair view of the results and financial position of The Merchant Seamen's War Memorial
Society (Incorporated) in accordance with The Companies Act 2006, The Charities Act 2011,
and United Kingdom Accounting Standards (United lfjngdom Generally Accepted Accounting
Practice).
Financial statements
Wa have fulfilled our responsibilities as trustees, as sot out in the terms of your
engagement for preparing financial statements in accordan￿ with The Companies Act
2006, The Charities Act 2011, and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice), which JCS Accountants Limited have
drafted on our behalf, which give a true and fair view of the financial position of The
Merchant Seamen's War Memorial Society (Incorporated) as of 31 March 2025 and of
the results of its operations and its cash flows for the year then ended and for making
accurate representations to you.
We confirm that the methods, significant assumptions and data used by us in making
accounting estimates, and the related disclosures, are appropriate to achieve recognition,
measurement or disdosure that is in accordance with the applicable financial reporting
frarnework.
We confirm Ihat we have based our aBsessment of any material changes in the revalued
amount of investment properties, on a reasonable basis informed by professional or other
suitable advice.
We have no plans or intentions that may materially alter the carrying value and where
relevant the fair value measurements or dassification of assets and liabilities refflected in
the financial statements.
We have disclosed all known actual or possible litigation and claims whose effects should
be considered when preparing the financial statements and these have been disclosed in
accordance with the requirements of accounting standards.
Related party relationships and Iransactions have b￿n appropriately accounted for and
disclosed in accordan￿ with the requirements of accounting standards.
All events since the balan￿ sheet date which require disclosu￿ or which would
materially affect the amounts in the financial statements have been adjusted or disclosed
in the financial statements.
We confirm the financial statements are free of rnaterial misstatements. including
omissions.

We confimi that, having consideied our expectations and intentions for the next twelve
months, and the availability of working capital, the charity is a going con￿rn and no
further disclosures in the accounting policies are required to justify why the financial
statsments should be drawn up on a going concem basis.
10. We confirm that the trustees, remuneration are correctly stated in the financial
statements. This includes all remun8ration and beneffts accruing during the year.
11. We have carri8d out an annual review to consider the useful economic life and estimated
residual valu8 of the freehold properties held by the charity. We consider any depreciation
arising to be insignificant and immaterial.
12. The stock of goods and work-in-progr8SS 18 based on physical quantities detemiined at
31 March 2025 by actual count by competent employees under proper supervision.
These stocks do not include any items invoiced to customers but still on the premisos,
any items retumed by customers for which credit notes have not been issued and
recorded, or any items held on behalf of others, but do include goods held by others on
our behalf. The stocks are priced at the lower of cost or net realisable value. Goods
which are imperfect, obsolete, static OT slow moving have b￿n priced at estimated net
realisable value when this is lower than cost.
13. We confim that the charity had not contracted for any capital expenditure other than
disclosed in note 16 of the financial statements as at 31 March 2025 .
Information provided
14. All accounting records and relevant information have been made available to you for the
purpose of your audit. We have provided to you all other information requested and given
unrestricted access to persons within the entity from whom you have deemed it
necessary to obtain audlt eviden￿. All other records and related infomation including
minutes of all management and shareholders meetings have been made available to you.
15. All transactions undertaken by the charity have been properly reflected in the accounting
records and are reflected in the financial statements.
16. We acknowledge our responsibilty for the design, implementation and Maintenan￿ of
controls to prevent and detect fraud, and that V￿ believe we have approprtately fulfilled
these responsibilities. We have disclosed to you the results of our assessment of the rlsk
that the financial statements may be materially misstated as a result of fraud.
17. We have disclosed to you all information in relation to fraud or suspected fraud that we
are aware of and that affects the entity and involves management, employees who have
significant roles in internal control, or others, where fraud could have a material effect on
the financial statements.
18. We have disclosed to you all infomation in relation to allegations of fraud. or suspected
fraud affecting the entity's financial statements communicated by employees, former
employees, analysts, regulators or others.
19. We confirm that we are not aware of any possible or actual instance of r￿n-comPlIan
with those laws and regulations which provide a legal framework within which the charity
conducts its business and which could affect the financial statements. The charity has
complied with all aspeGts of Contractual agreements that could have a material effect on
the financial statements in the event of non-compliance.
20. We confirm that we have disclosed to you the identity of the entivs related parties and all
related paty relationships and transactions relevant to the charity that we are aware of.
21 . The charity has satisfactory title to all assets, and there are no liens or encumbrances on
the assets except for those disclosed in the financial statements.

22. There are no liabilities, contingent liabilities or guarantees to third parties other than tho
disclosed in the financial statements.
23. We approve the schedule of adjusting joumals made, as included in your audit findings
reporL
24. The charity has at no time during the year entered into any arrangement, transaction or
agreement to provide credit facilities (including loans, quasi loans or credit transactions)
for trustees, nor to guarantee or provide securty for such matters, except as disclosed in
the financial statements.
25. All grants, donations and other income, the receipt of which is subject to specific terms or
conditions, have been notified to you. There have been no breaches of terms or
conditions during the period in the application of such income.
We confirm to the best of our knowledge and belief that the above representations ara made on
the basis of enquiries of management and staff with r818vant knowledge and experien￿ and,
where appropriate, of inspection of supporting doGumentation sufficient to satisfy ourselves that
we can properly make each of the above representations to you.
We acknowledge our legal responsibilities regarding disclosure of information to you as
auditors and confirm that so far as we are aware, there is no relevant audit information needed
by you in connection with preparing your audit report of which you are unaware. Each trustee
has taken all the steps that helshe ought to have taken as a trustee in order to make
himselflherself aware of any relevant audit information and to establish that you are aware of
that information.
Yours faithfully
Signature:
Slgnature..
Name:
LIST
Name:
Signed on behalf of the Board of Trustees
The Merchant Seamen's War Memorlal Soclety (Incorporated)