Company registration number.. 00378765 Chariiy registration iiumber.. 209133 Seafarers, Christian Friend Society (A company limited by guarante¢} Aniiual Report and Financial Statements for the Year Ended 31 December 2023 Crossley & t)avi% Chartered Accounian15 Cjround Floor Seneca 14ouse Links Poini Amy Johnson Way BlaLkpool FY4 2FF
Seafar¢rs' Christian Friend Society Content5 Reference and Adn)ini$trdtive Details Strdtegic Report 2to6 Trustees, Report 7tolO Statement ofTrustees' Responsibilitie$ Indcpendeni Examinevs Report 12 Statement of Financial Aciivitics 13 to 14 Balance She¢t 15 10 16 Notes to the Financial Statements 17to29
Seafarers, Christian Friend Society Referen¢¢ and Administrative Details Charity Regi8tratlon Number 209133 Company Registration Number 00378763 The tharity ts incorporated in England and Wales. clo Beever and Struthers One Express l George Leigh Street Manchester M4 5DL Regis¢er¢d orrice Auditor Crossl¢y & Davi5 Chartered Accountants Ground Floor Seneca House Links Point Amy Johnson Way Blackpool FY4 2FF Page I
Seafarers, Christian Friend Society Strategie Report for the Year Ended 31 December 2023 The trusiees. who are directors for the purposes of company law, pres¢nt their s(rategic report for the year ended 31 December 2023, in complsance with s414C of the Companies Act 2006. Achievements and perform*nee It is a privilege to report on the a¢tiviiies and prour¢ss of SCFS during 2023 and to acknowledge the dedication of ihe Board of Trustees, HQ staff. Pon Chaplains and Voluntetr Ship Visiiors in the pursuit of our mtssion which is to servE seafar¢rs wilh compassion a5 they visit loc31 port%. Our Impact during 2023 l am pleased to report that SCFS Port Chaplains and Volunteer Ship Visitors visitcd a total of 1,266 ships in UK and Irish ports during 2023. These included 1,131 merchant vessels and 135 cruise ships. In all, 226 ships w¢re visited in UK ports and 1,040 in Irish ports. Our wide ranging welfare support embraces seafar¢rs from hundreds of nations irrespective of their faith or religious belief, ethnic and cultural background, gend¢r OT sexual orientation. SCFS Port Chaplains and Volunteer Ship Visittsr5 provided vital spiritual, pasloral, emotional and practical welfar¢ 5UPPOrt to 11,470 crew members equatlTI8 to 4,553 in UK ports and 7,632 in Irish pons. Within its mi8sion SCFS also provides welfare support to Ihose who work wiihin a port environment including shipping agents, sievedores, welcome and security staff and harbour police. During 2023 thi5 5UPPOrt embraced 1,233 su¢h workers. 181 in the UK ports and 1,052 in Irish ports. No health & safety or safeguarding breachcs or Serious incidents were reponed to SCFS Managernent or our Board of Trusiees during 2023. With Seafarers spending up to 9 months ai sea at a time, often with precious little shore leave they are overjoyed tu receive gifts throughout the ycar and in particular at Christma5 and Easter. 1.358 gifts or gift paLks were handcd out wilh a further 2.841 knitied items to kecp the seafarer5 wann, 1,161 in UK ports and 2,052 in Irish ports. Supporters and Donors SCFS is grateful io the many supporters. including knitters, froni all over the UK and Iieland who so faiihfully and compdssionaiely donate gifts and knit woolly hals and scarvcs. Maiiy supporters also provide bouks, ioys, and kniited soll (oys for seafarers 10 bring home to Iheir children. Page 2
S¢afarers' Chri$ti#n Friend Society Strategic Report for the Year Ended 31 December 2023 In gratitude to our Irish and Northern Irish supporters a celebration event was held in th¢ Long Gallery, Parliament Buildings, Siormoni in October to which over 90 attended. The evellt served as the launch for our new branding and presentations were given by the SCFS Chair, Executive Director, and regional represenialiwes from across the UK and Ireland as to local developments. In order to revi¢w and expand SCFS depuiation work aeros5 the whole island of Ireland a Deputation Proje¢t was launched in January 2023 by our headquarters. The purpose is to conduct a gap analysis of church conlacts and deputration visits and io begin to fill those gaps through.. Identifying new or renewcd opportuniiies to provide prayer, practical and financial support to SCFS. Identifying new geographical areas and ports of opportunity for SCFS to operate in. Raising awareness of SCFS across Nl and ROI. Helping the Trustees to identify potential new Port Chaplains and Ship Vi5ltors I Support Workers. To date a total of267 dcnominational and non-denorninaiional churches have been contacted across Ireland, 145 in Northern Ireldr]d and 122 in the Irish Republic with 22 new deputation opportunities have so far arisen. Port Expansion During 2023. through initial deputation visits by the ROJ trust¢¢ representative, SCFS was able to expand its work in west coast of Ireland io the Ports of Limerick, Foyne5 and Aughinish. Preparations are also undeTway to place a Port Chaplain in Aberdeen and a team of Volunteer Ship Visitors in Malta through a local partnering church. SCFS Rebrand One of the most si¥nifi¢ant undertakings by SCFS Trllstees and HQ staff was the rebranding of the organisation. This included a change of name from Seamen's to Seafarers, Chrislian Friend Society to reflect the inclu510ll and growing numbers of f¢male seafareT5, not only on cnjise ship5 but throughout the rdnge of vessels across the merchant navy. The rebrand produced a new modern logo which reflects ihe care, support and compassion we provide to those who work and live in often difficult, ehalleJ]ging and dangerous tonditions. A promotional video was piofes5i9nally produced along with a new modern website www.sefs.org and our new look Helmsman new51etter. The new branding has been applied to management and administrdtive operations, freshly issued PPE and promotional materials. Truste¢5 and siaff therefore wish to ihank the inspiring and dedicated professional s¢rvice5 0rA¥ Soluiions. Conrbie Hunier-Jamisoii and Ark Media IBallym¢na). Risk Trustees continue to sy51emdiically review ihe SCFS Risk Rcgister wilh resulting lowered levels of risk across all areas. During 2023 pariicular locus was given io finance controls management and procedures, and govemance. Poliey & Procedural Developments A55ociated with governance rcview a suite of policies and procedures is being developed by our Executive Director and our Company Secreiary. During 2023 the Board of Trustees approved ihr SCFS Truste¢s Expenses Policy Social Media Policy Privacy Policy Adult Safe¥iiardin& Policy serious Incident Reporting Policy Page 3
Seafarers, Christian Friend Society Strategic R¢port for the Year Ended 31 December 2023 Professional HR advice and guidance is in now place through a ¢ontractual agreernent with Mark Mason Employment Law whicli has 5UPPOrtcd our Executive Director during the following HR developmerhts, subsequenily approv¢d by our board of Trustees. Employed Port Chaplain, regular l ad hoc Volunteer Ship Visitor. Administration & F'inanc¢ Officer and Executive Director role description and application forn)s. • Annual appraisals and salary reviews. The d¢v¢lopin¢nt and issuing of HR Handbooks to Employed Port Chaplains in North¢rn Ireland and the Irish Republic. To improve govemance an HR Sub Committee has been established to oversee, amongst other things, the developmeni of Induction and iraining for Pon Chaplains and Volunteer Ship Visitors. Internal and external communications. Standardis¢d indiictign for new irustees. Role descriptions for the office Bodrd. Communications scrs continu¢5 to provide and improve inforniation to its donors and public supporters, together with mutual support and fellowship for its Port Chaplain5 and Volunteer Ship Visitors. During 2023 this was provided through A ncw and larger fomiaiied Helmsman magazinc. The first regional supporter celebration event. Weekly prayer meetings for chaplains and volullteers. Monthly online meeiings hostcd by our Executive Direcior providing mutual support. sharing of information, go( prnctice and ides. The SCFS Conference was held in June, once again al the Royal Foundation of St Kdtherine's. We were delighted thai over 40 Trusiees. slatr, a5sociate5 and volunteers Irom the UK , Ireland and urOpe enjoyed lime of fellowship, the launch of the rcbrdnd and engaging in discussions on rnany aspects ofthe work and fulure of" SCFS . The conference concluded with a church service in ihe adjoilling Anglican chapel. Conclusion 2023 was an exeiiin8 and ev¢niful year concerning both th¢ consolidation and expansion of SCFS, packed with signilicant developments. Witl) many other plans in the pipeline. 2024 promises 10 be just a5 fruitful. Stevcn 'l'hornpson Chair May 2024 Page 4
Seafarers, Christian Friend Society Strategic Report for the Year Ended 31 Deeembcr 2023 Finanelal review The statement of finaneial activities shows a d¢fi¢it of £42.248 {2022: a deficil of £52,136). Toial income increased 10 £289,889 in 2023 from £197,456 in 2022 due to a large increase in legacies together with smaller increases in all income streams in the current year. Overheads increased substantially frorn £209,867 to £292,517. This was due in most part to staff costs, the rebrand of the organisation,Dublin property costs and ihe boards decision to fund 3 vehicles for the Chaplain%, thai had ell long overdue, froTn the increased revenue. l. New staff appointees of SepternbertNovember 2022 werc irt P)5t for the fijll year with increased hours. 2. Th¢ Chaplain's in Belfast, Dublin and Saint Lucia were providcd with replacernent vehicles with assistaEhce from the Merchant Navel W¢lfare Board, Canaveral Seafarers Ministy and local supporters. The Board would like to thank those who supported these projects. 3.ln March 2023, Ihe Board approved the rebrand Of the organisation io Seafarers Christian Friend Society with th¢ associated costs of Website, logo. professional fee5, and all other incidental costs. These one off cosis came to £14,292 in the year with the eveni costs in the UK and Nonhern Ireland to launch thc project of £1 0,145. 4. Tile Board approved, in addition to ih¢ annual salary reviews, a one off paymcnt to each Chaplain to offset the cost of livijig increase of £800. 5. The Dublin house incurred legal fees of £1 5,469 to end the t¢T]ancy of the occupiers of the property. The house is now in SCFS hands. The total ieserves at the year end stand at £732,967 {2022.. £775,215). Share Capital The Company is Lirnited by guardntee and therefore has no Share capital. Polley oh r¢seryeJ The I rustees have established a policy whereby the income of the SCFS should be expended for its objectives at the earliest possible time. Notwithstanding this, it is considered prudent that additional resourees ID the region of £75.000 ne¢d¢d to cover ongoing expenditure should be held in general funds. Page 5
Seafarers, Christian Friend Society Strategic Report for the Year Ended 31 December 2023 Pl*n8 for futu p¢rlod8 Aims 4ndkry objeelivesforf4tsreperiods The Board in their D¢¢¢mb¢r 2023 meetin& reflected on the past year os a pfvotal year in the organilly& not only on tILe rebrand the promotion of the SCFS Missio but the in)provement$ ill operntiOnS. B0v¢rn, staff 5UPPOrt, ¢QDn¢clivity with flerS and r¢l8ted Organi1108. Try ronsid¢r they bave achieved th¢ targets set out at tbe start of the yegy but more importantly. SCFS is now tn a positiOD to expand the mission through 2024 and 2025. Proj¢cts for 2024 includ¢ a new full time Chaplain in Aberdeen and volunteer hubs ill MontroK Belfgst, Limerick. Malta and the Solent. Connectivity with sister orgauisaliotLS SW)porting s¢af8rn5 w(Kldwi& tO8ethtt with fidIng org8nisation5 8JMJ seafarin8 SUPPOrt 8roup The strategi¢ report was approved by the trwtees of the charity Oll 31 July 2024 8nd SI on its behalf by: mpso Tnjstee Mr D l. Yarker Conan& Royal Na. Rrfired Trustee Page 6
Seafarers, Christian Friend Society Tru8tees' Report The irugtees. who ar¢ direetors f(Trr the purposes of company law, present the annual rewrt together with the financial statements pnd auditors, report of the charitable company for the year ended 31 December 2023. Objeetives and activitie5 Objecls ain•s Vision To create an environment wheie seaf8r¢r5, th¢ir familie& port dock workers and others may freely have the opporiunity 10 hear the word of Ood. Mission To actively encourdg¢ and minister in every possible way io the spiriiual, physical, practicdl and m¢ntal w¢lfare of Seafarers and others and to provide counsel in the cause of the Christian faiih and well-being. Objectives a) To employ Ordained. Associate and Volunteer Port Chaplain5 and Ship Vi51tors For the visitation of ships in various pons worldwide. b) To seek to befriend and support seafarcrs, their families and other5. cl I'O provide spiritual. physical, practical and mental welfare 5UPPOrt as necessary. d} I'O disseminate the Holy Scriptures, tracts, and Christian literature am(Trng the seafarers and others. e) To conduct Christian service5 onboard vessels 85 requested. fj To disciple and eneourage seafaring Christians in the continuation of their faith. g) To promote SCFS worldwide Public beuejll Seamen's Christian Friend Society (SCFS) was founded in London in 1846. Its goal remains to bring spiritual help to the seafaring community and those involved in the maritime industries, tr¢ides and activities by le15ing them about the love of Chrisi. It also helps them in piaeiical ways through friendship and support. SCFS Port Chaplains and volunteer Ship Visitors go on board ships when they come into hai'bour and spend lime with seafarers, talking to them about spiritual issues and helping to address their physical and emotional welfare io the besi of thcir ability. Practical support is given through the provision of appropriaie Cloihing, gift packs including personal hygienc products, SIM cards and food. tTansport and hospital visirs io the sick or injured, as needed or rcquested. The goal of transforming lives through the Gospcl of Christ is very much alive today and it ftsm5 the foundation for the SCFS ministry in 5¢a ports within the UK and around the world. The sole basis of the S()ciety's beliefs is in the Bible, God's infallible written Word, as It appears in ihc Old and New Testamenis and whose core precepts enc8psul2tc the SCFS Statement of Belicr. During 2022 the Trw%tees unanimously made rhe decision 10 undertake the process of rebranding tlie ini5si0n, which will include a change to its iitle and logo. to bring it into line wilh a modern society and maritime environrnent. This commenced ai the.%tart of 2023. The trustees confirm that they have complied with the requir¢ments of section 17 of rhe Chariti¥s Act 2011 10 have due regard to the publi¢ benefit pIdance published by the Chaiiry Cummission for England and Wales. Page 7
Seafar¢rs' Chrislian Friend So¢iety Trustees, Report Trustees and otricers The Itee5 and officers serving during ihe year and since the year end were as follows.. Tru5te¢s.' Mr A Browne Mr D Robertson MrA McAvoy M.B.E Mr C R Hancock Mr S Thompson Mr D L Yarker Commander Royal Navy- Retired Mr T Maze {resigned I l March 2023) Mr D Thornton (resigned 18 February 2023) Structvre. governance and mAv8¥emeNt Nalure ofgovernlng docHmenl Cod¢ of Conduct SCFS 15 a member of International Christian Maritime Association (ICMA) and our Port Chaplain5. Ship visitors. staff and tn]stees must uphold its Constiiuiion and Code of Conduct by: Showing unconditional love to the seafarer as a human bein8, created in th¢ imag¢ of God, and sincere for his or her p¢r50nal values and beliefs. Serving seafarers and their dependants of all nationalities, religions. cultures, language, sex and race. Fighting prejudice, intolerance and injustice of any kind. Respecting the loyalty of those engaged in the maritime ministry lo their particular ecclesia51ioal discipline and tradition and refrain from proselytising seafarers. Cooperate with persons, organisations and institution4 Christian and non£hrsStian, that work for the w¢lfare of seafarers. Paye 8
Seafarers, Christian Friend Society Trustees, Report OrgfinlsftlionalsirHcINre Mand¥¢m¢nt and Governance Arrangements The Current Governing Document providcs for a minimum of four Trusiees with a rnaximum number of twelve. The Cl)air is responsible for ihe induction of any New Trustee which includes the awareness of their responsibilities, the history, the gov¢ming do¢uTnent, administrative procedures and Statement of Belief. All Trusiees give of their time freely and no renumeraiion was paid during 2023. The Board of Trnst¢¢s r¢view the risks of ihe charity on a quarterly basis and considers the followirtg risks which may affect its work.. * strate and operations Charily law and regulation . Gov¢rnan¢¢ and management Financial procedures and conirols HR, including equal opportunities, safeguarding and health & safety These are regiilarly rnonitored through the Finan¢e & Audit Sub Group, which reports to the tThstees and through which the Board of Tru5tee5 receiv¢5 their reports and annual budget. The Board Tnonitors the financial performance as well a5 operational and statutory matters at its quarterly meetings. Th¢ charity makes itself accountable to the public and it5 5takehold¢rs in producing annual reports and accounts. Financial instruments Objecilves ftndpolleles The charity's activities expose it to a number of financidl risks including credit risk, cash flow risk and liquidty risk. The use of financial derivatives is govemed by the charity's policies approved by the board of truste¢5, which provide written principles on ihe use of finaneial derivative5 to rnanage these risks. The charity does not use derivative financial in5trumenls for speculative purposes. Cashflow risk The chariry's aciivities expose it primarily to the financial risks of changes in foreign currency exchaTr8e rale5 and interest rates. The charity uso% foreign exchange fonvard contracts and int¢rest rate swap contracts io hedge these exposures. Interesi bearing assets and liabilities are held ai fixed rate io ensure tertainty of cash flows. Cre¢lil rlsk The charity's principlll finallcial assets are bank balances and cash, trade and other receivables, and invesliments. Thc charity's credit risk is primarily aitributable to ils trade receivables. The amounts presented in the balance 5heei are net of allowances for doubiful receivables. An allowance for impairment is made where there is an identified loss evcnt which, based on previous expcrience, is ¢viden¢¢ of a reduction in ihe recoverability of the cash flows. The cred2t risk on liquid funds and derivative financial illEtruments is limited because ihc counterparties ar¢ banks with high ¢redit-raiing5 assigned by iniernatitsnal credit-rating agencies. The charity has no significani concentraiii)n of credit risk, with cxposure spread ovcr a large number of coullterparti¢s and customers. Page 9
SefarerJ' Chrlstian Friend Society Trustees, Report Liquidity rlsk In order to nmintsin liquidity lo ens[¢ that sufficient fimds are AVAil4ble for ongDing operation8 And fvuwe developMt$, th¢ ¢lwity uses a tDixiure of long.tenn alld SlE0rt.te de finance. Furtbtt thtai]s r¢8arding liquidity risk Call be folllld in the stateme of ac¢owiling policies io th¢ fmADcia] statwneDts. Dl8e109llre of IDformtion to audltor Each has taken steps that th¢y ought to have tsken 8s a tsste¢ in order to nk¢ themselves aware of ttny relevant audit l&fontion al establish that tlLe clwriws Juditor 15 8wor¢ of that inf0rnMti0 Tr trL8te¢s confirm that the 18 no Tel¢vaDi inforn]ation that they know of aud of which they know the auditor is unaw8re. The a11ll1 T¢POrt was apProd by the trtee$ of the charity on 31 Juty 2024 and sigticd its behalf by.. Tn Mr D L Yarker Coffj4wid¢r Royal Navy- Retired Trnstee Page 10
Seafar¢rs? Chrisllan FrAend Society StatemeDt of Trustees, Responsibilities The inL8iees (who wt al80 th¢ dire¢im of Seafa, chriln Friend Society for the puOse3 of law) arc responsiTr>le for prepwin8 the 1Thte¢s, report and the financial ststements in Ac¢ordallce with applicable law United Kill8knrn Accountill8 Stsndards (United Kingdom Generalty Accepttal Ae¢ouThtiti8 PAciieeX iDcludin8 FRS 102 "The Fin8m¢i81 Reporting Standard applicable in the UK and Republic of Jrelsnd.. Company law rquirrs the trustre5 to prepare fillancial statcllMts for finan¢ial year. Under wmpany law the trustees must not approve the fjnallcial 5tat¢ments unl¢ss they aT¢ satisfied that they give a true and fair view of the state of affairs of the clwiknlilc Company and of the incoming resour¢es and appli¢ation of resour¢ inch18 its income alld expendilur¢ of the clwitable company for that perlod. In preparill8 these fiDaDcial statcmenls, the tnLStees are r¢quired to: s¢leet suitable A¢¢oun¢iDg policies gnd apply them consistelltlyy observe the methods and principles in th¢ Cl)arities SORP. make judgements 9nd estimates that art reasonable and prudeut; stste whetber applicable coUnting standBrds, ¢omprisillg FRS 102 hkve been followe(L subjecl to aDy nwterial depart$ disclosed ond explained in the fjtwicial statements. and prepHre th¢ fmon¢ial 5thtcments on the going concern b&sis unless it 18 Inapoprl&te io Frtsume thai the charitabl¢ comp8ny will continue ill business. The trte¢S are responsiTrJlc for keepiD8 proper accouDtiog records that caD diwlose with rea&)thle accuracy 8t Any time the financial Posiiioll of tbe charitable company and enable them to ensure that the fllwicial 5tatemeJ comply wlth the Compallies Act 2006. They ar¢ also resw)nsible for safe8wdin8 the assets of the charitsble ¢omp8ny Bnd hence for tskins re&8ODabl¢ step5 forthe prevention and detection orUd and other ittesularities. The trustees are resp)nSIle for the nMinteJwn¢e ond iutem of the corporate and financial InforntI included on the clMrit4bk companls website. L¢gi8lation governing the preparatM)n and dissemination of financial statements differ frojn leglslation in other jurisdictions. Approved by the trth4tee5 of the charity on 31 July 2024 and si8lled rn its bebalf by: Ttwtee Mr D L Yatkcr Co4der Royal Navy. Retired Trustee Pagell
Seafar¢rs' Christian Friend So¢i¢ty Independent Examiner's Report to the trustees of Seafarers, Christian Friend Society ('the Compdiny,) I report to the charity irusiees on Iny examination of the aceounts of the Company for the year ended 31 December 2023. Responsibilities and bfisis of report A5 the charity's trustees of the Company land also its d]reOrS for the puwoscs of company lawl you are responsible for the preparation of ihe accounts in accordance with ihe requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are noi required to be audited under Part 16 of the 2006 Act and are e12gible for independent examtnation, I report in respcct of rny examination of your ¢harity'5 accountg as carried out under section 145 of the ChaTjties Act 2011 ('the 2011 Act,). In carrying out my examination I have fullowed the Directions given by th¢ Charity Commission und¢r section 145(5)(b) of the 2011 Act. Independent examiner S statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of ihe 2011 Act. I conlirrn that l am qualilied io undertake the examinatioD because l am a n)¢mb¢r of . which is one of the listed bodies. I have completed my examination. I confirm that no matters have come io my attention in conn¥tion with the examinatiorj giving me cause to believe: accounting records were not kept in respect of Seafarers, Christian Friend Society as Tequircd by section 386 of the 2006 Aci. or 2. the a¢cuL)nts do not g¢cord with those re¢ords' or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts giwe a 'lrue and fair view, wliich is not a matter Considered as part of an independent examination- or 4. the accounts have not been prepared in accordance with the methods And principle% nf the Statement of Rccommended Praciice for accounting and reporting by charities IApplicable to charities preparing their accounts in accordance with tl)e Financial Reporting Standard applicable in the UK Republic of Ireland (FRS 102)]. I have no concerns and have come across no other mailers in connection with the examinatioTr to which attention should be drawn in this report in order 10 enable a proper understanding of the accounts to be reached. Crossley & l)avis Lhartered Accounianrs Ground Floor SeTreca House Link5 Point Aniy Johnson Way Blackpool FY4 2FF 16 Augusi 2024 Page 12
Seafarers, Christian Friend Society Statement of Finan¢ial Activities for the Year Ended 31 DeccmbLr 2023 (In¢luding Income and Expenditure Aecollnt and Statement of Total Re¢ognised GaiDS and Losses) Unrestricted funds Restricted funds Total 2023 Note Income and Endowments from: Donations and l¢ga¢ies Charitable activities Investment incorne Other income 177.541 45.983 663 63,073 240,614 45,983 663 2,629 2,629 Total income 224,187 65,702 289,889 Expenditure on: Raising ndS Charitable activities 39,620 248.269 39,620 292,517 44,248 Total expenditur¢ 287,889 44.248 332,lJ7 Net (expenditureyincorne Net movement in funds (63,702) 21.454 142,248) (63,702) 21.454 142,248) Re¢oncili8tion of funds -1.oial funds brought fotward Toial funds carried fotward 755,801 19,414 775,215 19 692,099 Unre5trkcted funds 40,868 Restricted fund5 732,967 Total 2022 Note Income and Endowments from: Donations and Icgacies Charitable activities Invesrment income 104,774 49,114 43,449 148,223 49,114 Total income 154,007 43,449 197,456 Expenditure on: Raising funds Charitable aetivities 39,725 157,095 39,725 209,867 52,772 Total expendithre Net expenditure Nei movement in funds 196,820 52,772 249,592 (42.813) (9.323) (52,136) {42,8131 19,3231 152,136) Reconciliation offunds Total funds brought forward 798,614 28.737 827,351 Total funds carried forward 19 755.801 19.414 775,215 The notes on pages 17 to 29 fomi an intcgral part of ihesc financial siaiemenis. Page 13
Seafarer5' Christian Friend So¢i¢ty Statement of Financial Activities for the Year Ended 31 D¢¢¢mber 2023 (Including Incom¢ and Expendilure Account and Sta¢¢m¢nt of Total Recognised Gains Ydnd Losses) All of th¢ ¢harity's #¢tivilies derive from continuing operations during the abowe two periods. The funds breakdown for 2022 is shown in not¢ 19. The notes on pages 17 to 29 forni an integral part of these financial statements. Page 14
Seafarers, Christian Friend Society (Registration number: 00378765) Balance Sheel as at 31 December 2023 2023 2022 Note Fixed assets Tangible assets 13 543.476 519,627 Current assets Debtors Cash at bank and in hand 14 15 10,809 201,540 12,768 264,407 212,349 277,175 Credltors". Amounts fY4lling dme within one year 16 (10,858) {9,296) N¢t CllTreiit 855ets 201,491 267,879 Total a55ets less current liabllltles 744,967 787,506 Creditor5: Amounts falling due after more thgn one year 17 (12,000) (12,291) 775,215 Net assets 732,967 Funds ofthe ¢h#rily: Restrieted incorne fund5 Restrieted fimds 40,868 19,414 Unre$tricted income funds UnT¢5tTiCt¢d funds Revaluation reserve 250,197 441,902 313,899 441,902 Total unrestricted funds 692,099 755,80 Total funds 19 732,967 775,215 For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to smttll companies. Directors, responsibtlities.. The members hkve not required the charity to obtain an audit of its accounts for the year in question in accordftnce with secliorb 476. and The direciors acknowledge their r¢5POH5ibilities for complying with the requirements of the Act with respect io dcLouniing records and th¢ pr¢paration of accounis. The note5 on pages 17 to 29 forni an Tnlegral part of these financial statements. Page 15
S•afarer8' ChrA8dan Friend SoeKty (Regl8tratioD number: l)0378765) Balance Sheet as al 31 Drnber 2023 The fllwicial Siateiii¢tilS on pa8cs 13 to 29 approved by the knistw and thoyised for Issue on 31 July 2024 and signed o eirbeh8lf by: 'IILOmPSOD TTUStee FU(3rfbr Mr D L Yark¢r Commander Ro1 NaTry. Retired The llot¢s on pagcs 17 to 29 forni an intewl part of thes¢ fi[wla1 statements. Pa8e 10
Seafarers, Christian Friend Society Notes to Ihe Financial Statements for the Year Ended 31 December 2023 Charity status The charity is IiTnited by guaranlee. incorporated in England and Wales, and consequently doe5 not have share capital. Each of the triistccs ig liable to contribute an amount not exceeding £1 towards the 2SSets of the charity in the eveni of liquidation. The address of its registered office is.. clo Beewer and Struth¢rs One Express l Georg¢ L¢igh Str¢¢t Manchester M4 5DL These finan¢ial statements were authorised for issue by the trustees on 31 July 2024. 2 Ateounting poli¢ie$ Summary ofsigThifieant aeeountlng polleles 8nd key Aeeounting tstirnates The printipal accounting policies applied in the preparation of these financial staternents are set out below. These policie5 have been ¢onsisiently applied to all the years prescntcd, unlcss otherwise stated. Statement of eomplianee Tl)e financial slatements have been prepared in accordance with Aceounting and Reporting by Chariiies.. Stat¢ment of Recommended Practice (applicable to charitics preparing their occounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charitie5 SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and tlie Companies Act 2006. Ba%1$ of prepar4tion Sealarers, Christian Friend Society meets the definiiion ot. a public benefit entity linder FRS 102. A5set5 and liabilitics arc initially recogniscd at historical cosi or Iransaction value unless otherwise stated in the relevant accouniing policy notes. Going eoncern The trustccs t()nsider that there arc no material uncertainiies about the charity'5 ability to continue as a going ¢onccrn nor any significant areas of uncertainty thai affect the carying valL)C ()f assets held by the charity. Incorne and endowment All income is recog?nised once the chai'iiy has cntitlernent to the incole. it is probable ihat the income will bc r¢¢eived and ihe dmouni of ihe income reLeivabl¢ b¢ measured reliably. Page 17
Seafarers, Christian Friend Society Notes to the Financial Statements for the Year Ended 31 December 2023 Don(Itions ondlégfteies Donation5 are r¢¢ognis¢d wh¢n th¢ charity has been notified in writing of both the amount and Settlement dale. In the ev¢nt that a donation is subject to conditions tiiat require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully m¢1, or th¢ fulfilent of tliose conditions 15 wholly within the control of the charity wid it is probable that these condiiions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the grant of probate when the adrninisifdtorlexecutor for the estate has communicated in writing both the amount and s¢ttlem¢nt date. In the event that the gift 15 in the fomi of an asset other than cash or a financial a$5¢t traded on a T¢cognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a d¢gr¢e of rea50nabl¢ accurdcy aE]d the title to the asset having been transf¢rr¢d to the charity. Grants réeeivfjole Grants Ltre recognised when the charity has an entitlement to the fund5 and any conditions linked to the grant5 have been m¢t. Where p¢rfonMan¢e conditions are attached to the grant and are yet to be met, the income is r¢¢ogni5¢d ps a liability and included on the balance sheet as deferred income to be released. InvlMen[ income Dividends are recognised onc¢ the dividend h&% been d¢clared aE)d notifi¢ation ha5 been re¢¢ived of th¢ dividend due. Expendllure All expenditure is recognised once there is a legal or constrnctive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated io the applicable expenditure heading ihat aggregate similar cosis to that category. Where eosts cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources. with ceniral staff costs allocated on the basis of time spent, and depreciation charges allwated on the portion of the assei's use. Other support costs ar¢ allocated based on the spread of staff costs. Rai.fiiiglHnd.% These are costs incurred in allracting voluntary income, Ihe managemenl of investments and ihose incurred in trading activities that raise funds. Cliftrilrtble ftclivilies Charitable expenditure comprises those cost5 incurred by the charity in the delivery of it5 activities and services for its benefjciaries. It includes both cost5 that can be allocated directly to such activities and those costs of an indirect nature n¢¢¢ssary to 5UPPOrt thcm. Grfintprovi.¥ioii.f Provisions for grants are Tnade when the intention io make a ¥rant has be¢TTr communi¢ated to th¢ re¢ipi¢nt but there is uncertainty about eith¢r th¢ timin¥ vf the want or the amount of grant pyable. Support costs Support costs include CetraI fupctioiis and have been allated to activity COSI ¢ateg?(Trries on a basis consisienl with rh¢ us¢ of r¢souT¢¢5, for example, allocating propeny cosis by floor areas, or per ¢apiia, sialT cosis by the time spent and otheT ¢QSt5 by ¢h¢ir usage. Page 18
Seafarers, Christian Friend Society Notes to Ihe Financial Statement5 for the Year FJnded 31 December 2023 Governance costs These include the costs attributable to the charity's complian¢¢ with constitutional and statutory requir¢ments, including audit, strategi¢ managernent and tn]5tees meetings and reimbursed expenses. T8llltion The charity is considered io pass the iesis set out in Paragrdph I Schedule 6 of ihe Finance Act 2010 and therefore it meets the definilion of a charitable coimpany for UK corporation t&Y purposes. Accordingly, the charity is poieniially exempi from taxation in respect of incoime or c2Plt21 gains reccivcd within categorie5 cuvered by Chapter 3 Part I l of the Corporation Tax Aci 2010 or Section 256 of the Taxation of Chargeable Gain5 Act 1992, to the extent that such incorne or gains are applied cxclusively to charitable purposes. Tang5ble fixed a55ets Individual fixed assets are initially recorded at cost, less any subsequeni accumulaied depreciation and subsequent accurnulated impaim)eni losses. Depreciation and amorti$ation Depreciation is provided Dll ians?ible fixed assets so as to write off the cosi or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset elllss Motor vehicles Furnire & equipment DepreciAtion mtthod and rate 250/0 Reducing balance 20/0 Siraight line lThvestment properties The investment propeity is a freehold property in Dublin and has been valued in February 2017 by Vincent Finnegan Ltd (Property valuers) at £500.0(M) {560,000 Euros) based on vacant possession. This valuation has been incorporated inio these financial statements. The property is currently occupied. The charity r¢¢eived a further valuation in 2023 of E650k however the property rcquircs cxtcn5ive work to reach that valuc thcrcfore the trustee5 feel it appropriate to retain the value at £500,nOO. Trade debtors Trade debtors are arnounls due from customer5 for merchandise sold or services pcrfonned in the ordinary course of business. Trade debiors are recognised initially at the transaction price. They are subsequently measured ai amortised cost using rhe efftIVe interesi method. less provision for impairrnenr. A provision for the impairmeni of trade debior5 is established when iliere is objeciive evidence thai the charity will noi be able io collect all atnounis due according io the original iern)s of ihe receivables. Cgsh And cash equivaletits Cash and cash equivalents comprise cash on hand and call depo511s, and uther 5hort-t¢rm highly liqllid investments Ihat are readily convertible to a known amount of Lash &in(l are 5ubje¢t to an insignificant risk of change in value. Page 19
Se2far¢rs' Christian Friend Society Notes to the Financial Statements for the Year Endcd 31 December 2023 Borrowings Interesi-bearing borrtswing5 are initially recorded at fair value. nel of transaction costs. Intere5t-bearing borrowings are subsequently carried at amortised cost. with the difference between the proceed5, net of transaction Costs, and the amount due on demptIon being recognised as a charge to the Statement of Fillancial A¢tiviti¢s over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest rnethiKI and is included in interest payable and 5irnilar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for ai le1 twelve months after the reporting date. Foreign exch8nge Transaetions in for¢igll CencIeS are recorded at the rate of exchange ai the date of the transaction. Monetary assets and liabililies denominated in foreign CUTrencies at the balance sheet date are reported at the rate5 of exchange prevailing at that date. The results of over8ea5 operations are translated at the average rates of exchange during the period and their balancc sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and result5 of overseas opcrations are reponed in other eomprthensive incom¢ and accumulated in equity (aitribuied to non-controlling inrerests as appropriate). Other exchAnge differences are recogniscd in the Statement of Financial Aciiviiies in the period in which they arise except for. l ) exchange differ¢nc¢s on trJnsa¢tion5 entered into to hedge certain foreign curreney risks (see aknve),. 2) exehang¢ diff¢ren¢es arising on gains or losses on non-monetary items which are re¢ognised in thher comprehensiv¢ in¢om¢,' and 3) in the case of the consolidated financial statements, exchange differences on monetary items recetvable from or payable io a foreign operation for which %ettlement is neither planned nor likely io occur (therefore fomiing pan of the nei investmeni in Ihc fnreign operatiOTb), which are recognised in other comprehensive ineome and reponed under equity. Fund structure Unr¢51riot¢d in¢om¢ funds are general funds ihat are available for use at the injstecs diltretion in fvrtherance of th¢ objectives of the ¢harity. Restricted incorne fund5 are those donated for use in a panicular area or for specific purposes, Ihe use (Trf which is restricted to that area or purpose. Financial instruments Clllssificalion Finan¢ial a55ets and financial liabiliiies are recognised when the charity btcnmes a party to the contractual provisions of the in511umeni. Fiiian¢ial liabililies and equiiy insiruments are classified according to the substance of ihe contractual arrangements entered inio. An equily inSlruinenl is dlly Lontract ihat evidences a residual interest in the asseis of Ihe Charity after (leduLiing all of ils liabililies. Page 20
Seafarers, Christian Friend Society Notes to the Financial Statements for th¢ Year Ended 31 Deeember 2023 Recognliiun uiidmeasNreuieni All financial assets and liabilities are initially m¢a5UTed at transaction price (including ¢ransaction cosis), except for those financial assets classified a5 at fair value through profit or loss, which are initially measured at fair value {whi¢h is normally the tian5action price excludinsp transaction ¢ost5), unless the arrangement constitulC$ 8 fillancing transaction. If an arrangernent constitutes a financing iran5a¢tion, the financial assei or financial liability is measured at the present value of ihe future payments dis¢ount¢d at a market rate of interest for a Similar debi is]slrument. Financial assets alld liabilities are only offset in the statement of financial position when, and only when Ihere exisis a legally enforceable right to set off the recognised amounts and the chatily int¢nds either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised wh¢n and only when a) the contractual rights lo the cash flows from the financial asset expire or are settled, b) the charity Iranslers to another party substantially all of ihe risk5 and rewards of ownership of the financial asset, or c) the charity, despite having retained some, bul not all, significant risks and reward8 nf owncrship. has it2nsferred control of the assei to another party. Financial liabiliiies are d¢r¢cognised only when the obliEAtion specified in the contract is discharged, cancelled or expires. Page21
Seaf#r¢rs' Christian Friend Society Notcs to the Financial Statements for the Year Ended 31 December 2023 Débi insiriimenls Debi inslrumenis which meet the (ollowing colldition5 are subsequently measured ai amortised eogt using the effective inieresi meihod.. {a) The coniractual reiurn 10 the holder is (il a fixed amount. {ii) a positive fixed rate or a positive variable rate. or (iii) a combination of a positiv¢ or a negative fixed rate and a positive variable rHt¢. (b) The contra¢t may provide for repayments of the principal or th¢ r¢turn to ihe holder {bui not both) to be linked io a Single relevant observable index of general pri¢¢ iT)flation of the currency in which the debi instrument 15 denominated, provided such links are not l¢v¢raged. (c) The contract may piovide for a delettninabl¢ variation of the retum to the holder during the lif¢ of the instrument, provided that {i) the new rate 5atisfi¢s condition (a) and the variation is not tontingellt on fvtur¢ events oiher than { l) a change of a contractual variable rate'121 to protect the holder against ¢redit det¢riordtion of the issuer; {3) change5 levies applied by a ¢entrdl bank or arising from chat)ges in relevant lallOn or law. or (ill the new rate j5 a tnarkel rdte of interest and satisfies condition la). (d) There is no contractual provision that could, by its lern)s, result in the holder 105ing the principal amount or any interest attribiltable to the current period or prior periods. (e) Contractuttl provision5 that pem)it the issuer to prepay a debt instrument or pemiit the holder to put it back to the issuer before maturity are not contingent on tre events, other than to protect the holder against the credit deterioration of the issu¢r or a changc in control of the issucr, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. (D Contractual provision5 may pcmiit the extension of the tem of the debt instThment, provided that the return to the holder and ally other coniraciual provisions applicable during the extended rcmi satisfy the conditions of paragraphs (a) to (¢). Debt insirumenis that are elas5ified as payable or receivable wiihin one year on initial recognilion and which meei Ihe aknve eonditions are m¢asured at ihe undiscounted amount of the ch or other consideration expecled io be paid or received, net of Émpairment. With Ihe exception of some hedging instruments. oiher debt instruments not meeting thcse conditions are measured dt fair valu¢ through Profji or loss. Cornmitin¢nts to make and receive loans which meet lh¢ ¢onditions mentioned above are measured ai cosi (which may be nil) less impainneni. Jnvesimenls Invesiment% in non-convenible preference shares and non-piittable ordinary or preference shares (where shares are publicly traded or Iheir fair walue is reliably mca.%urable) are measur¢d al fair value through profit or 1055. Whcre fair value cannoi be measured reliably, invc%tmcllls are rneasurcd al co%t less impairmcni. lllvestineDts in subsidiaries and associaies aTe measured at cnst less impairmeni. For investments in subsidiari¢5 acqiiired for considerarion includin¥ the isstse of shares qualifying for mcrgcr relief, cost is measured by refeiEnce to ihe nominal value of the shar¢s issued plus fair Value of oiher consideration. Any premiurn is ignored. Page 22
Seafarers, Christian Friend Society Notes to the FinAncial Statements for the Year Ended 31 December 2023 Derlvfiilvefynancial inslrmmenls Th¢ charity u5¢s derivative financial instrumenis to reduce exposure to foreign exchange risk and interesi rate movements. The charity does not hold or issue derivative financial insirumenis for speculative purposes. Derivatives are initially recognised ai fair value ai the date a d¢rivaiive contract is ent¢r¢d into and are subsequently remeasured to their fair value at each reporting dat¢. The resulting gain or 1055 is recogni%ed in statement of financial activities immediately unless th¢ d¢rivatiV¢ 15 designated and effective as a hedging instrument, in which event th¢ timin¥ of the r¢cognition in s¢at¢ment of financial a¢Eiviiies depends on the nature of ihe hedge relationship. Fuir vrtI£ mefts*remenl The best evidence of fair value is a Quoted price for an idcntical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there h29 not been a significant change in ¢conomic circumsiances or a significant lapse of lime %ince the transaction took place. If the rnarket is Tjot active and recent transactions of an identical asset on their own are not a good ¢5timat¢ of fair value, the fair value is estimated by using a valuation technique. 3 Ineome from don#tlons legtteles Unrcstrieted funds General Restricted fuDds Tot81 rund5 Donations and legacie%; Donations from individua15 Legacies Gift aid reclaimed Grants. including capital grants; Granis from other chariiies Regular giving and Capital donations 111,476 63,065 J.000 32,673 144,149 63,065 3,000 4,000 26.400 4,000 26,4(M) Tot21 for 2Q23 177,541 63,073 240,614 Total for 2022 104,774 43,449 148,223 4 Ineome from ¢h4ril8bl¢ a¢tiYities Restricted funds Tot#l funds ITb¢orne from Sim cards 45.983 45,983 Total for 2023 45,9113 45.983 Total for 2022 49,114 49,114 Page 23
Seafarers, Christian Friend Society Notes to the Financial Statements for the Year Ended 31 December 2023 S InvestmeTht incoThe Unrestrleted runds Gener81 Total fndS Ini¢rest r¢¢¢ivabl¢ and similar income. Int¢r¢st receivable on bank deposits Total for 2023 663 663 663 663 Total for 2022 6 Other income Restrieted runds Total runds Gain5 on sale of tangible fixed assets for charity's own use Total for 2023 2,629 2,629 2,629 2,629 7 Expenditure on r*ising funds a) Costs ofirading 4clivities Unrestricted runds General Total rund5 Note Cost5 of goods sold 39,620 39,620 Total for 2023 39,620 39,620 Total for 2022 39,725 39.725 Page 24
S¢afar¢rs' Christian Friend Society Notes to the Financial Statements for the Year Ended 31 December 2023 8 Expenditure on charit8ble activities Unrestricted runds General R¢stricted funds Tot#1 runds Note Depreciation, amortisation and oiher similar costs Grant funding of 2¢tivities Allocated support costs Governance costs 1.338 14,554 214,869 3,216 6,687 8,025 14,554 252,430 3,216 37,561 Tot81 for 2023 233,977 44,248 278,225 Totsl for 2022 157,095 52,772 209,867 In addition to the expenditure analysed above, there are also governance costs of £3,216 (2022 - £2.622) which rclate directly to charitable a¢tiyilie5. See note 9 for further details. 9 Athaly$Tr$ of gov¢rnsnc¢ support COStS Governgnie costs UDrestri¢ted funds Cenernl Total funds Audii ftses Other fees paid to auditor5 3,216 3.216 Total for 2023 3,216 3,216 Total for 2022 2.622 2,622 Page 25
Seafar¢rs' Christian Friend Society Notes to the Financial Statements for the Year Ended 31 December 2023 JO Net incomingloutgoing resources Net outgoing resources for the year includ¢: 2023 2022 Depreciation of fixed assets 8,025 11,314 J l Trn5tee5 remuner#li(tyn and expenses No trustees, rtor any persons connected with thern, have r¢ceived any remuneration from the charity during the year. 12 Taxation The charity is a registered charity and is iherefore exempt from taxation. 13 Tangible fjxed assets Lgnd and buildRngs Furniture and equipment Motor vehicles Total Cost At l January 2023 Additions Disposals 5(M),000 25.110 47,030 34,445 (19,885) 572,140 34,445 (19,885) At 31 December 2023 500,000 25,110 61,590 586.700 Depreeiation At l January 2023 Charge for the year Eliminated on disposals At 31 December 2023 23,323 1.338 29,190 6.687 117.314) 52,513 8,025 117,314) 24,661 18.563 43,224 Net book value At 31 December 2023 500,(H)O 449 43.027 543.476 Ai 31 December 2022 500,000 1,787 17,840 519,627 14 Debtors 2023 2022 Prepaymenis 10,809 12.768 Page 26
Seafarers, Christian Friend Society Notes to the Financial Statements for the Year Ended 31 December 2023 IS Cash gnd cash equivalents 2023 2022 Cash at bank Shon-tem deposits 70,994 130,546 209,525 54.882 201,540 264,407 16 Credltor$: Amovnts falling due within one yefir 2023 2022 ACCa]S 10.858 9,296 17 Credltors: amount$ fklling due after Dlle year 2023 2022 Other creditOT5 Deftrred incorne 12,291 12,000 12,000 12,291 18 Reserves Unrestrieted revalualion reserve Total At l January 2023 441,902 441,902 UThre5tri¢ted rev8luation reserve Total At l January 2022 441,902 441,902 Page 27
Seafarers, Christian Friend Society Note5 to the Financial Statemenls for the Year Ended 31 December 2023 19 Funds BalF&nce at 31 December 2023 Balanet at I January 2023 Incoming resources Resource5 expended Unreytricied funds General 313.899 224,187 (287.889) 250,197 Other 441,902 441,902 Total unrestrlcted funds 755,801 224,187 (287,889) {44,248) 692,099 Restrieted fuNd5 19.414 65,702 40,868 Total funds 775215 289,889 1332,137) 732.967 B8lance 8131 December 2022 BAlance At J January 2022 Incorning r¢$our¢es Resources expended Unrestrlettd funds General 356,712 154,007 (196,820) 313,899 Other 441,902 441.902 Total unrestricted funds 798,614 154,007 (196,820) 755,801 R¢$tricted fund5 28,737 43,449 {52.772) 19,414 Total funds 827,351 197.456 (249.592) 775,215 20 Analysi5 01 net assets between funds Unrestrfjeted fundg Genernl Total funds Y4t 31 December Restricted fund5 2023 Tangible fixed asset$ Cu)T¢nt a55ets Current liabilities Credirors over l year 500,449 202,508 110,858) 43,027 9,841 543.476 212,349 (10,858) (12,000) 732,967 (12,000) Total net assets 692,099 40,868 Page 28
Seafarers, Christian Friend Soeiety Notes to the Financial Statements for Ihe Year Ended 31 December 2023 Unrestrlcted runds Gen¢ral Totsl funds at 31 December 2022 Re.strÉeted runds Tangible fixed assets Current assets Current liabilities Creditors over l year 501,787 275,601 (9,296) (12,291) 17.840 1.-574 519,627 277,175 (9,296) 12,291 Toial net assets 755,801 19.414 775215 Page 29
Seafarers, Christian Friend Society Statement of Finaneial Activities by fund for the Year Ended 31 December 2023 Unrestricted Funds Total Total Unrestrlcted Unrestrieted Funds Funds 2023 2022 Incorne 8nd Endowments from: Donations and legacies Charitable activities Investment income 177,541 45,983 663 104,774 49,114 119 Total incimne 224,187 154,007 Expenditure on: Raising fund5 Charitable activities 39,620 248,269 39,725 157,095 Total expenditure 287.889 196,820 Net expenditure Net movement in fijnds (63,702) {42,813) (63,702) {42.813) Reeonciliation of funds Total funds brought fonrd 313,899 356,712 Total funds carried forward 250,197 313,899 This page does noi form part of the statutory financial statements. Page 30
Seafarers, Christian Friend Society Slatement uf FinanciAI A¢livitie5 by fund for the Year Ended 31 Dee¢mber 2023 Restricted Funds Total Re51ricted Funds 2023 Restricted Funds 2022 Ineome and Endowments from: Donations and legacies Other income 63,073 2.629 43,449 Total income 65,702 43,449 Expenditure on: Charitable activitie5 44,248 52,772 Total expenditure Net incomel{expenditure) Net movem¢nt in funds 44.248 52,772 21,454 {9,323) 21,454 (9,323) Reconelllation of funds Total funds brought foThvard Total fvnds carried fonvard 19,414 28,737 40,868 19,414 This page doe5 not form pail of the statutory financial slatemenis. PaLJe 31
Seafarers, Christ12n Friend Soeiety Detailed Stalement of Financial Activities for the Year Ended 31 D¢cember 2023 Total 2023 Total 2022 Income and Endowments from: Donations and legaeies (analysed below) Charitabl¢ activities (analysed below) Investment incom¢ (analysed below) Other income lanalysed below} Total income 240,614 45,983 663 2,629 148,223 49.114 119 289,889 197.456 Expenditure on: Raising funds {analy5ed below) Charitable activities (analysed below) Tthal expenditure Net expenditure 39,620 292,517 39,725 209.867 332,137 249.592 (4? ?48) {52,136) Net movement in funds (42,248) (52.136) Reconciliation of funds Total funds brought forward Total funds carried forward 333.313 385,449 291,065 333,313 Thi5 page does not form part of the slaturory fillan¢ial siaiernents. Pag¢ 32
Seafarers, Christian Friend Society Detailed Statement of Financial Activities for th¢ Y¢ar Ended 3J Decemb¢r 2023 Total 2023 Total 2022 Donollons andlegucies Legacy - unrcslricied Appeals and donations - restricted Donation5 - unrestricted Gift Aid on Donations - unrestri¢ted Grants for car fvfNW - restricted Salary Contributions- restricted 63,065 32,673 111,476 3.000 4,0(H) 26,4(K) 240,614 8,681 24,911 92,393 3,700 18,-$38 148,223 Charlidblé aeiiviiles Income from Sim cards- unrestricted 45.983 49.114 45,983 49,114 Jnveslmeni Ihcome Interest on cash deposits 663 119 663 119 Oiher income Profit on sale of tangible fixed a5S¢ts held for ¢harity's own use 2,629 2,629 Raisimgfunds Sim wd cost- unrestricled 39,620 39,725 39,620 39,725 Chllrilrtble aclivilles Generdl Reni - Colvin House Rent - Sam Light, heat and power Insurance Telephone and fax Officc expenses Stationery & printing (Newsletter) restricted Postage and stationery Bibles and literaiure Charitable donation5 Hire of plani and machinery {Opcr4ting lease5} Seafarers suHdTies 'I'rustee5 exp¢nse5 Motor, travel and 5ub515tence- unr¢5tricted 1,406 11,243 684 421 3,210 2,269 8,084 3,683 1.190 2,836 14,554 1,909 1,462 1,184 725 3,429 980 4.958 3.376 963 2,606 3,400 1,336 3,588 3,419 8,404 4,173 10,329 Thi5 page does not forn) part of th¢ 51atuiory fin2n¢ial siatement5. Page 33
Seafarers, Christian Friend Soeiety D¢¢ailed Statement of Financial Aetivities for the Year Ended 31 De¢ember 2023 Total 2023 Totzl 21122 Conference costs Rebrnnding Legal and professional fees Bank charge5 rioreign currency (g&it)sylosses Depreciaiion of motor vehicles Depreciation of office equipm)¢ Chaplains. salaries- r¢stri¢t Back office salaries and costs Chaplains, salaries- unrestri¢t¢d Chaplains, costs- unrestricted Staff pensions {Defined contribution) Nest Volunteer expenses Proteetive clothing Accountancy ftes 10,145 14,292 3,178 310 1,276 6,687 1,338 31,878 29,250 100,256 16,048 3,284 2.585 1,198 3,216 292,517 8.697 39,446 83 1801) 5,947 5,367 43.449 26,454 23,303 3,300 1,695 2,622 209,867 Thi5 page does noi form part of the statutory financial stateTnents. Page 34