REGISTERED CHARITY NUMBER.. 211869
THE CORPORATION OF TRINITY HOUSE
OF DEPTFORD STROND
REPORT OF THE CORPORATE BOARD AND GROUP ACCOUNTS
OF
THE CORPORATE CHARITY AND ITS SUBSIDIARIES,
INCLUDING
THE TRIMTY HOUSE MARITIME CHARITY
FOR THEYEAR ENDKD31 MARCH 2022

THE CORPORATION OF TRINITY HOUSE OF DEPTFORD STROND
The members vfthe Q)rporate Buard, ds Tn￿tt¢s. presen¢ their Atsnual Rcport and Group Ar￿Unts for thc year ended
31 Miir¢h 2022.
THE CORPORATION'S OWECTIVES AND ACTIVITIES
The Corporation of Trinily IIou5c ofD¢ptford %trond ("the Corporation" or'Trinity House") was inc0T￿rated by Royal
Lharter in 1514 and its primary aims are 10:
8erve th¢ marincr with %upwrl lo those in necd.,
provi¢J¢ education and tr&irting seamdn¥hip* and
piy)motc safc ftavi8atinn at sca.
With thls in mlttd, the Corporation's vision is..
To be a keyl Influencl*g, UK marltlrne oryinls•tlon promotln¥ the s*fegu*rdlng of shipplng st*far¢rx by
provldlnz Welfare. Youth Opportunitiu And Tr*lnln& and Pvblle Safety •nd Edut8tlon to tbe $¢AfArlll¢
The CoryM)ralion's principal ¥harity i¥ ihc COr￿rat¢ Chwity, which Is responsible fiir..
mainLdinin8 the fabric and hcrita8c of TriTlily Ilouso'l'ower Hill, L()ndon'
th¢ licensing ofDccp l>ca Pilots: and
thc pN)vision ol- ¢xp¢rtise on mariLime matters, includin8 ihe appointment of Nautical Assuwrs to a&815t the
Admirally Court.
Ilnder 119 R(byal Charter5. thc Li?rporotion is 8150 responsible lor thc mainLenunec #nd good gov¢mancc of thc Trinity
House kraternily. which now numbers morc than 500 F.Id¢r and Younggr Brcthrcn.
The Ci)rporutc Charity's sub%idiary ¢harily* thc'friftity House Maritime LhHrity (TFIMC), is governed by a sch¢m¢ of thc
Charity Commi55Lnn. lis primdry objccts ar¢..
thc pnTrvision ofMimshou5e iccommvdation for Thecdy mprin¢rs and their dyndants. and
thc payment ofannuitlCS.
I'he 5chrmc also provide5 for a numbcr ol'oihcr ¢h4rltable objecis ¢onccmin8'.
the relief of need dnd the promolii)n ufwclfarc amun&qL marincrs and Lheir dependthnls:
cducotion and training in naviBFltion and 5CaTnansh¢p;
the mdvancement ofpubli¢ safety, in partiLulllr thc 8alety of marinttrs Hnd Shipping B¢n¢rg]ly-
the educa(i(Trn (?f the puhlic in mai(er$ r¢lAling w naviwdtion, 8hippLn8 and scam9nship.
Thc Q)rpora(ion's aL(iviiies, ds 5Ct oui below, drmuD$tral¢ that Trinity I lous¢ op¢rat¢i for thc public b¢nclil undcr four
Lharitablc purpos¢1 al dLfLn¢d in thc Lhariii¥s A¢¢ 201 l. Th&8e arc..
Ihe rcli¢f of thosc in nced;
the advgnrEmcnt i)feducation;
Ihc advantement of hcalih and Javing live8- and
the &dwantim¢nl ol'th¢ arts. Gultur¢, heriLa8c or sci¢n¢c.
'rhc Tru5t¢rs wnfirm ihatthey have complied with (h¢ duty in 8eLtion 17(5) ofthe ChariLi¢s Act 2011 ts) havc du¢ regard
ihe publi¢ henefit 8uidance publi¥h¢d by the ChariLy Commi&sion.

Thc COT￿ration,8 a¢tiviti¢s in relation to thc above objeL*ives ate u follow5:
Welfare
THMC opttai¢s 18 a]rn5houses in Walmer. Kcnl which 4r¢ purpos￿bUilt and fittrd out with the older person in mind.
Otherwise known as Trinity Home4 each bun8alow overlooks kn¢ivc. landscaped 8ardcns. and a spacious
¢ommonldinin8 room is also available tLI all residents.
The almshou5C8 arc not care home8. bu¢ thc C7cncral Manager 15 mindful of the wellbeing ofthe residents artd Is usually
availabl¢ on weckdays for consultation advi¢c. Night Al￿ndantS arc a150 on duty ovemight every day (If thc wcek,
and art ¢mergency Lull 5ySttm 15 in pla¢c where, in the tvcnt of Sudden illn¢38 OT a fall, a resident ¢an Quickly CAII for
hclp. A midday mcal 1% provided by the Resident Sejwices Coordirtator on Monday to Friday. for those residcnts who
would likc one: this is subsidi%d by THMC.
To be elL8ible lo Ilvc in the Hi)me4 rcsidents must bc r¢tir¢d mariners And their partner5. or thc widoW￿WIdOW￿9 of
mariners, in financial ne¢¢L who have nonnally had over IS yegrs. ￿rVIce at se& Residents arc typically aged 60 and
&bovc.
In addition. THMC makes regulgr paymenlA to up lo 60 annuilgnts. fA)m¢ of whom are reJidcnt& of 'l'rinity Homcs.
0¢¥&8iOtv41 onewoff BrHnls are al80 mllde ￿ dircct SUPfM)rt to lormcr mariners land their dcp¢ndaDts) in financial nccd.
THMC'S oiher significant activity wi¢hin ihe w¢lfare s¢c(or i% thc award of8ranL8 to other maritime Churities. Given Lhe
number ofwcll-cstAblished rnaritime charitlcs providing welfare scrvice5 direcily to tho8c in need, the'frusLees consider
thaL it would be an ineificient use ofresourccs to duplic&te their cfforty. They thcrclorc prefer Lu ti]Ilil th¢ CorporAtion'
objectives through supwrt for thcsc charili¢s by way ofmajor grants.
To improve furthcr its efficicncy in thi5 are4'fHMC is & m¢mb¢r¢)fthe Mtrch&niNuvy Wclfarc Roard's Servin8 Seofarer
and Older S¢of8rer and Familics Working Groups, and the Mari(ime Charili&$ Group IMCG) which compriscs thc ten
maj(?r 8r￿t-MakIn8 ¢hariti¢s in thy maritirnc welf&re bector.. S¢afor¢rs UK., the M¢rchan( NAVY Wellare Board,. Nautiluy
IntCrnY4tional- Scalarcrs. Hospitdl Snciety; Royal Navy and Royal Marines Chariiy. Greenwich Ilo%pitY41,. ITF Seafarer4'
TrLtrt' Lloyds Ile818ler bounda¢ion,' TK I,ouhdolion und Trinity House. 'fh¢ MCO fostcrs cc)la￿TatiOn across the
maritime charity Acctor. It does thi.8 by sharinx inlormation. commi.8sinninB r¢8cwch. supp4)rlin8 thc ¢dU￿(Lon ￿nd
w¢ifare Ufs￿f￿rcrS ¥nd iheir families, and by th¢ prornotioTh Df b¢st practice wiihin (he moriiim¢ chAriiy scr(or.
Youth Opportunltlu *nd TrAlTrlni
-ri IML'S charitsblc Qctlvity eruLbleA y¢)ung people ¢0 expericncc life ai 8CYi Wth a thrc￿fo1d aim. ￿IrStly, young ￿￿pIC
gain confidence at SCA by handlin8 small And 14rge ¢ratL' (his, in tum, cnhanccs public .4af¢ly at 8¢8. Secondly, 8uch
#ctivili¢3 promul¢ cducation and LTainin8 for thi)s¢ who seek to pursur a carccr at sca. The LonfidenLe 8ainLd can LTrtl¢n
opcn young people's cyes to the wcalth of t)pEKJrtllnLti¢s avAilabl¢ that thcy rnay not have con.4id¢r¢d or known 8lK?Ui.
Finally. this ¥cliYity impmvu awarcnu5 ofnwvi8aiion, shipping￿d seamartship alvngsidc hi8hli8htin8 the roleof'frinity
Ilobse and oth¢r a8en¢ie8 in promotin8 Lhe 5afcty of Rhippin8.
To thi5 end, THMC provides an ants￿1 8rant to the Marin¢ Socidy & Sea Cadcls. a maritimc charily. Th¢ Corporation
also funds cvecr development bursarie5 awarded by the AssiTr¢i&tion of Sail Trainin8 Or8ani5ation5 {AS'f()). Royal
Yachting Association {RYA} Yachtmustcr Scholarships for those worktng in the SMBII commercial vc58cI secior. and a
SUprry￿ht cadetship thmugh the United Kin8th)rn S&ilin8 Ac￿Lyny IUKSA).
F.ducation and trainin8 in n•vig&tion, scarnanship and marine en8int¢rins are mainly provided throu8h TIIMC'S
Mercharti Navy Scholarship 8chcrne IMNSS). whcrcby young peopl¢ training to b￿nme offittr5 in the MerLhant Navy
arc supported with bursaries for their a¢adcmic Cours￿ and se&-&(Tring trttininB. Candidates. who llre USUBlly between 16
and 181/2 y¢￿5 old. undcrtake a ihr¢e-y¢ar proxrammr split bctwccn naulieal c4Jllc8e And (im¢ a¢ sea in a variety of sea-
going vcssels. Clldcts can train ￿ DeGk. Ln8iiccr or Llec(r￿TcChnIcaI OlfiLers IF.TO$).
Publlr S•fety EducA¢lon
Th¢ s4fcty of rnariners and shipping 8¢nEr#lly, ond ol-(he public who travel by s4 is the CO￿ ortiviiy uf Trinity House
in its capacity as a General Lighthou5c Authority. It is also a rharitablc activity ot-the Cory>oration's ¢harili¢4 whi£h
provid¢ 4 nwnb¢r of major grartts for this purpose.
'I'IIMC also makes grants toward5 thr advanccment ofeducalion in mariiimr matt¢r5 such as searnanship.

Malnt•ining the F*bric Htrltxge ofTrlDity Hou8e
Th¢ maintenanLe uf the fabric and herita8e of Trinity IIousc. Tower Ilill, l.ondon 15 an cs%ntial part of the Corporate
ChariLy's activities. ThL5 ¢￿ade I lisi¢d buildin8 datcs tr()m 1795 and WAS r¢sLored and rwpen¢d in 1953 lollowin8
wartimc dama8e.
Alihvugh li Continues to be ihe h¢adquari¢r5 buildin8 of the Gcncral Lighthouse Authority and of ihe Corwration's
harilies, its ceremonial room8 arc t)orniolly secn by well over 20,OOn Wi8LWfS each year who aiLend for ¢onfercnee
rcccpiion.8, weddLn8S and othcr cvcnts. Th¢s¢ include the &nnual gtneral meeLings of other chaTiti¢s the maritime
¥nd oth¢r 8eclors. &8 well as produ¢iion companies. inv¢simen( bdnk¥ law firnis and non-chariiahl¢ maritime u)rnpanie&
due io the House'5 IoLalion within the Square Mile. Forthc samv r¢ason, il is popular with livcry companics lacking halls
i)f their own, who lik¢ to hosL their ccrcmonial Court meetLll8S. lunch&% and dinn¢rs th¢rc. Trinity Ilousc a18Q PUrti¢ipai£s
in IATrndon Open How¢.
AIthL)u¥h thc buildinu is used exl¢n5iv¢ly li)r th¢ CoTfA)r*Lion'5 ¢?wn #dministrdtive and opcrdLiOrtal purpus¢s, it$
sucrcs%ful promotion to cxternal uscrs not only enhanccs puhlic under$tanding of the IM￿rtant role i?t the Corporation
hul 4lso op¢imi4e8 thc ￿se of ils asscts, ¢tsntrihU￿5 ￿ ￿nserv￿(lon￿ pr¢s¢rvaiion, social valuc und linan¢ial sustainabiliiy.
and maintains thc cornplcx balonce ofhistoric valuc and eoniempor4ry. forward-looking relrvanc¢.
The majuTlty of thc custs ofmaintainin8 Trinily House, Tthwer 14111, T.ondon 15 louT￿ fr()m IDom-Iclting incomc. and thc
huildin8 l5 normally &voilMbl¢ tor usc cach day ihr(iu8hi)ut thc y¢dr opurt frotn a four-weck mointrnancc period in AugusL
and thc day.% of. lind bctween. ChTlStma% and Ncw Year.
Dttp Sea Pllotize #nd Provhlon of N*utlr41 AMeJ$•rJ
'l-hc C.orporaLion has a $tronB intCfCs1 in Dccp Sea Pil(Ilagc And, by S¢¢*ion 23 ofthL Pilot4ge ACL 1987, authorised io
8ranl Deep Sca Pilot￿¢ c¢rtifi¢&¢¥s ¢0 per5uns who sR¢isly ih¢ n¢c¢s9ary crilcria l()r ¥nlry artd exuminati()n. The
Corp()Tation 15 cncouraging more Landidatcs lo ￿ck T)cep Sea Piloia8c liccnLcs a5 thcy play M vital role in the ¥alciy of
navi8&lii)n in ihe Fthglish Channel, North Sca around our coa&ly, and ciTrny#quenUy ¢h¢ protection ofour environm¢n¢.
Whi151 nol mandatory. the 518nificanL risk miLi&aLi()n afforded by the usc ol. Deep Sca Pilolli 15 WCII rcLO8niseJ. 'lknc
ov¢rdll cosi of obwinin8 8 lic¥nLC can be ¢unsid¢rabl¢ 50 the CoTpor&tr Ch&trity &w4rds buTsaTiCS to %ULLcssful L&ndidAtr
to help wi¢h the purLhw5c of ncces¥ary equipment and wilh the costs involved in pr¢parntion for the rol¢.
In thddition, the Corpornlion 1$ required to appoint Nauticr41 A&$e980rs to a53isi the Admiraliy Lijurt where thc judsc
requircs addi(L()nal naviga¢ional w)¢rtLse. C&8cs may involvc ￿rnplex ￿chni￿1 profcs$ityn#l isJu¢5 and h¢Arin
may lust Iwo wceks or mor¢.
Truite¢i' Revltw of Charlt#ble Expendlture and CrAnt-M¥Jldllg Pollcy
A revicw ul. THMC'S y&n(-makinx proccdure w&5 complcLcd during thc year cnded 31 March 2021 and fully
implem¥n￿d shurtly attcrwurds. Thi.% brought greater clarily tu ¢h¢ upplication proccss for i)rganisAli(Ins supported
Ihis y¢or and has rcsultcd in a mor¢ xlreamlincd 8ranL pro8r&mme. Qur emcr8¢ncy grants provi.%ion to &*SlXt with the
impocl ofLovid-19 ended on 31 MrLrGh 2021 and providcd 5UPWrt to both and rclirtd seAfw¢r8. 'l-he MariLim¢
Lhoriti¢s ffftTrup Covid-19 Rcdundllncy Und Retraining Hursary. administercd by Lhe Marine Soii¢Ly and supported in
partnership with the Mer¢hartl Nv4Vy Wciforc Bvard and Nauiilus Sl4¢cr Fund, conlinucd ihrvu8houi the ycDr ond wu5
po%iLivc cxamplc (Il'ihc in¢rease41 Icvcl ol-ciTrllaborati(Fn within the sccLor in re%pon5C tn thc pandcmic.
rirantsthatwcre previously CA(egoriscd &8'8Tants paid- des1￿￿ted. arc now cl&8slfied ￿,￿rE￿nts paid- annual., tu avoid
confusion wilh Dcsignated bunds.
Thc relaLionship'fHMC ho8 Wlth thcor8ani5ation5 il supports r¢m8Lns at the corcof our work and is valucd on PK)th sides.
Visit5 have hecn ablc to return to almost prc-pandemiL l£vcls. which has play¢d an important part nol only in k¢¢ping the
Trustees bricfed on ihe impact of l-IIMC'8 funding but 4180 in ensuring that they awar¢ ul'thc Challen￿￿5 bcin8 laLcd
as orgwisalions cmerse from the pand¥mic.
I'h¢ Trustees ¢ontinue to mY4intsin a of Jllocatin8 THMC 8rants in ¢hc rAtio 6..4:1 b￿wetn Y¢)uth Opports￿LI]eS
nd Trainin& Wcifare, and Public Sal¢ty as far &8 ￿)Ssibl¢. That said, ¢h¢ ¢onlinuing eflects ol'the pHnd¢mi¢ {notably
the requircment to respond io ¢m¢rging continBcnt lleed) have ¢hallenged the ability to align as closcly wilh th￿C
prop)rtion5 as Ln pr￿pandeMiC years.

Svbsldlary Compsoles
Th¢ management of room lettings is undertaken by Trinity House Lvents Limited {THEL), a wholly owned subsidiary
ompany of¢he Corporate charity. Any protitsgencrated by th¢ company. where notrequired to be relained, arc dirrct¢d
iowdrds the Corporution's Lhwitable objccts.
The Corpordtc Charity is al80 th¢ sol¢ ownw of Trini(as Service8 Limited. the principal activity of whiLh 15 the
manggement and operaiion of37 fOrn￿r li8hihouse keepers, co(tll8￿ that are run as holiday acctsmmodatioth and short-
temi l¢¢titl8. The d8y-to4ay managem¢nt of ¢he ¥umpany ig carried out by staff ¢mploy¢d by the fi¢¢)eral l.ighihou5C
Authorily (see page 13).
ACHIEVEMEIYTS AND PERFORMANCE
Weif*r¢
During thc ycar. the LorF4)ration spcnt £1.4 milliort towards thc wclfare of m4rin¢rs ond their depcndants cvrnparcd with
£1.6 million in the previous year (scc note 71. Includinx *up￿)rt cost& ihis equa¢¢s to 34% of th¢ ioial rharitthlc
¢xp¢nditure in thc ycar Icxcluding restricted grGnis made from the TFIMC/Dcpartment tor I'ransport (fHMCIDff) Fund
Jcc'Public 8afcty and Trainift8' FKlow) compared th¢ Trus*rs' taT8Ct of 36% of¢xpenditur¢.
EX￿ndituTe in the ycar included..
The m&int¢n#n¥e sjnd upkeep ofTriniLy Homcs in Walmer (£378.000). I'hc Homcs arc inspected periodica]ly
by th¢ Corporation's &urvcyor and all 111 bungalows and thr communal buildin8 cuntinue to be in 8ood repair.
A progrAmm¢ ol. rritifiralion work {identifLcd by the G¢n¢ral MArtager HPPLiintcd in May 2020 as neLeyx#ry to
ensure ¢ompliance wilh Ilrwlth Nnd Salety and othcr l¢Bislalll)n) cvmmcnced in l&lc 2020 ond h&5 now be¢n
cumpl¢kd. This in¥luded a scrics of fire safcty remedi*l works arising from the annuBI FiTC Risk Ajgessmcnt,
s WCII 85 UP8radin8 th¢ cat¢ring kitshcn along with d number of smE411¢r works. The pwertger lift was a150
refurbi&hcd in 2021. Minor imwowemcnts io ittdividual pro￿rtieS L<>nlinu¢ ￿ part of a rtsulinr mairltenance
pro8rHmmc. The wd¢ns ￿main well mY4intained and ￿Tr much appreciaL¢d by the r¢sidcnis. One Vlkcwnt
pmpcrty WHS OLcupied kn T)¢c¢mber 2021. IcAYinB IWD lurthcr vacant prupertL¢$ At 31 March 2022.
Annual 8rgnts lo (en welfar¢ charili¢s in thc maritime sectrjr tot8lling £526,000.
Ixher grants tu welfare charitics and individulls ￿taLli￿8 £196,000. Includin￿ 4nnulti¢s to 26 retired s￿rorerS
in financlal nccd at a rat¢ o1'£780 p¢r annum.
'rFIMC Supports u widc rnn8e ofrnari¢im¢ wclfare Organi￿lOn$.
urin8 the year, a gr￿n( of£ioi,000 was BLv¢n to th¢ Shipwr¢Lked Mariners. Socleiy. Sincc 1839, it ho8 been pwviding
vltal linanciF41 supw>rt and practical a5SL51ance to merchanl 8e¥fuwr5, fisher¥, and (hcir dcpcndants in need.
Anotherw¢lfare Charity to recclve a 8ranl Thc Royal Alfred S¢afArcrs SoGiety1£92,000), which h&s provlded housing,
rcsidcntial and nursing L#re lo former seafarers, th¢ir widows d¢p¢ndants for mor¢ than 150 years.
Thr Nau(ilus W¢lfar¢ Fund offer$ u rHng¢ of specialist Jcrviccs Io sUPPUrt retired seafarers gnd their depcndBnts.'
retiremcni accommodation for peoplc living itsdcpertdcntly. for thos¢ requiring rcsiden¢iY41 or nursing carc, and alw carc
¢ hurnr to help ￿0p1¢ liv¢ ind¢p¢ndcntly in their homes for lon8er. During the year. it receivrd a 8rantof £77.000.

Youth Opportunltles Tr&lnlog
Lxpenditurc on ihis charitable objectivc to¢alled £3.2 milli(Trn. including SUp￿rt costs-the s&mc asth¢ prcvious year (s¢e
notc 8)- atyd cquate5 to 64% ofihc totAI charitable expendi￿r￿ in th¢ y¢or compared with thr Trusiees. tar8et ol- 55Y..
The* figurcs cxclude rc5tric*d wants made frorn the THMCIDtT Fund (see below).
The cost of the Mcrchant Navy Scholarthip Sch¢me IMNSS) was th¢ largest item of ch8ritable ¢xp¢nditur¢ in the year.
totalling £2.3 million, a sum partially off$ei by 8ov¢rnmcnt grants of £0.7 million.
This was another LesLing ycar navigalin8 thle MNSS throU￿h th¢ Covid-19 pandcmic ￿11¢ adapLin8 to change8 in
restri¢titJn& imposed by the UK atjd inicmdlional 8overnmertts. 'fhe main challenge was securing sufflcient Sca krths for
cadeLs to comple￿ their sea-limc tsEining phasc¥, which wo9 achicvcd with Llosc ¢ooperalion (rom ihe Codcts themselves
and from (he cornpani¥s who made thc berths uvailable. Flexibility wus key ts) most Trinity Ilousc ¢ad¢ls wmpleLin8
their vaTlnU.% trdinin8 phoses wlthin the required periods and so proBres4inB ￿WardS qualificalion. Ilncc again, cadcL% had
to addpi online ledming when ¢vll¢8e5 wrr¢ unahle iu offcr luilion ort site, whiLh madc li difficul( (i) mointain c(Trur5C
continui(y. IIow¢vLY. IhrouBh commitmeni #nd d¢di¢ation. most ¢adLts did successlully Comple￿ theiy seicollc8e phases.
Ai thc st4rL of the ye&r u to￿7 of 139 cadeL% were urtder trainin8 throuuh thc MNSS, ithcludin8 81 T)eck Officer% 49
F.ngineer Officcrs Hnd 9 F.TOs, some of whom had cxp¢ricn¢ed double ph&iing ai college wh¢n 5¢8 berths had br¥n a¢ a
premium Lumparcd wth ¢h¢ previou5 ycar. The numb¢rs wh() qualificd in 2021 and a¢hieved onictt of the Wat¢h
I()OWl wcrc &% lollows: 39 Ik¢k ()Iliccrs. 111 Lnginc¢r ￿￿7¢cr8 Bnd l L'l'u. Th&8e LudeLs are Lo bc con8rdLula¢¢d on
atlaining thcir certifi¢Aieq durin8 a 8lobal pwdemic, with many ible ￿ Secure ¢mploymenL Jmd prom￿sS their resPCCtive
marilime carcer p*ths.
'I'h¢ joint venture paTtncTship5 wrrc lurth¢r developcd thTuugh the year, attractin8 high colibre ¥#ndidal¢y ull of whum
benefit¢d fmm (TrprM)rtunilirs made availablc Lhrough ¢he p¥rtn¢r organisatl0115, such AS th¢ ollery ot. cmploym¢nL un
qualifying. Scvcral juini vcnLur¢ cadots with Tcck&y Shipping, IUT cxamplc. arv now juni4)r otfirKr% on Tcckay LNG
ships. Thix outcA)me enhantts Ihe profilc nl'iht MNSS in an cxLremely compctilive markd.
'Thc MNS% 1.8 kvolvin810 mcct dcvcl(>ping requircmcnl8 in the (rainingof ¢ad¢ts lor (he modcm, trchnolo¥iLdlly advanccd
McTLhunt NAVY. Recruitln8 ihe ri8h( ¢Mlibr¢ of¢andidatC5 is ¢ssertLial kttp pacc. Marilbmc colle8¢s and univcr5iticJ,
in ¢unjun¢tion wiLh the Merchani Navy .1 rainiTh8 Board, are rrviewin8 syllabusc5 and incrcasing the usc of ￿lmu1&￿r
truining. 8iJlenL Universily has ￿rnIlY inlN?duLcd a ihrcr-ycor a)urse from which ¢ad¢ts will ¥r&duale with a full
I Ivnuur8 d¢8ree und An l)OW Ccrtilicatc. Triniiy Housc'i MNSS haA a notablc rolc ts) play in %upporiin¥ ih¢ RriliAh
MerLhant N&vy ¥s it stays Mbr¢&51 of chun8c in lh¢ global merc8ntilc marinc se¢(or.
'I'hc other majvr 8r¢4 ()f LxpcndiLurL undcr Yuuth Opp()rtunitics and 'l'raininB ¢()mryiscs fLVC annual 8rnnts totallin8
£247,000. Th¢ re¢ipi¢nts of thcsc granL% were Charitics pmviding op￿)rtUnitI¢S for young pcoplc io experiencc Sailing
and o(hcT maritime K¢tiviLics. inLluding iroinin8.' Th¢ Mthrinc SoLi¢ty & Sc4 Cadets {£1 I2,000).' Tall %hips Youth 'l-rust
1£47,OOQ); London Nautical S¢hool1£38.ooa)', (hc InLernatSonal Ai.s0fyi#¢ion ofi.i&hthousc Authuritics, {IALA- AISM)
Wurld Wide Acadcmy1£25.000I', #nd ASTQ {£25,000).
Othcr grants includcd L45,(K)O in RY A, £25.OUO LO Cow¢s En¢crprise Lollcsc, £24,0(KJ ￿ PurL8muuth Swl'fvdining'rn￿I
and £24,OOQ to UWC Atlathti¢ Colle¥c.
PorL4muuth Sail I'rAiniThgl'rust has bren supported by THMC for a number of years, speciflcally to Ilclp wound 30 youn8
peoplc through ihcir tr#inin8 pro8rammc cach year. Portsmouth Sail 'l'raining Trust Is passionatr about enablin8 and
m()tivating disadvHntaBcd y<)un8 people in PorL8mi)uth to reach Iheir full pokntsal. 11 provides maritime trdinin8*
qualifLCHtion8 and mcnt()rin8.

Publit S*ftty Edu¢atlott
Includin8 suppori Costs, Unr¥5triCi￿ grant expenditure on this ¢haritAblc a¢tivily ts)talled £83.000 (3ce notc 9). equating
ts> 2% of the lolal charitable ￿PEndituTt in the year compared with the Ttvste¢$' torget &llo¢ation of W/•. Unrestricted
gronis within Public Safety and LAJucation were slightly lowcr than in the previous ycar. This is due to a ctsmbinalion of
redu¢ed Aiinding dvaÉlable overall and sorn¢ grant r¢qu¢sts in this Brea being dcemed morc suitablc tor fundin8 from the
THMc￿￿ fund.
In addition to th¢ unrestri¢tcd grant expcnditurc. restricted 8rants to¢alling £1.569.(K)O wrrr disbursed from the fund
adrnini5*red by TIIMC joinily with th¢ DIT, and details ofthu¢ ar¢ s¢t out in a 8epara¢e r¢tion below.
CHIRP Mariiimc (Confidential Iluman Fa¢lor$ In¥id¢nt Rcporting Programmel was awarded £l9,0(K> to help encourage
in¢id¢nl rcporting 80 that safety Icsson8 C4n bc learned and di55cmill￿ted. CIIIRP dims to enc(Trmp8ss cvcry L8PCtI ur
seamanship safety has a cri(ical ml¢. including lei.8urc boalin& thc fJthin8 Lndu3try, ¢0mm￿l4] maritime, tsrr.8hor<
pilotthiie, mililary, dnd port orKrations.
Publk Safety 4nd Ed￿tatIon ￿tsb￿rIed from the THMCIDrr rund
A$ 5¢t out in wttvious Rcpons and Accounts. a Grant Funding A8rconent with the Drr approvlng o to TFIMC of
£3.0 million was si8n¢d on 27 March 2019. This gTanL Irceivcd in April 2019. was In SUPkX)rt of safety and tTainin8-
rclalcd mattcrs within'fHMC's objects. In the ycar under rewrt a tytal of £1,569,000 way disburscd. rnainly to the Royxl
Socicty for the Prcvcniion of A¢L'idents {RoSPA) 1£568.OIN)). Scafish {£321,n(M)}, the NaLiortal Coastwdtch lrtslitution
(NCI) (£105.UUO), ]4ritish Marine I£IOO.000) and Fishin8 Anlmateur (£IOO.IM)0- 8¢¢ bclow).
ROSPA is at the heart of accident preveniiun in thr UK and around the wvrld. The grants aword¢d by THMC were lrt
support of iwo projccts.. the N8iionAI Wakr S#f¢Ly Forum's 'Respcct ihe Watcr. Carn￿]8n and (he W ALer Incident
Datsbose {WAID).
Scafith 1$ a Non-I)¢p8rtmental Publlc Rody that SUFVIrt5 the seAr￿d ycctor In thc UK. The Brpnts by THMC
were in support of two pmjects.. Cold ¥%*ter xhock training ¢v¢nL8 Mnd the 'Home and Dry. fi8hitt¥ salcty c8mpAi8n.
NCI is a volunlAry orB8ni.881ion tha( cxists lo uxist in ihc prok¢tson and pre8erv&tion of life at sea and around thc UK
co&gtlinc. The'fiimc grant contribu(cd to cnablin8 NCI l(F align more ¢lvs#ly with the wAicr s&f¢(y irtiti&tive in lurn
with TIM Lo&i¢Buard- # key part of thcir recently updated fivc-yesr hu8ine%x pl#n.
British Marine is the ¢radc 068ocia(ion for the UK Icisure, SU￿ryaCht and sm&ll commercial marine induslry. The THMC
grant ¢vntributcd to the ￿)Sts of Nnnins a naiiunal safcty carn￿1￿ th8¢ gimed io promote tsking (o the woter safcly.
As noted alxTrvc, Fishin8 Animateur was th¢ bcncficiary of a 8rant of£ioo,(K)O. Ra5cd in Newlyn bul 8ervin8 the wknle
of ihc IIK, thc AnimatCUTS SUPPOrt th¢ fishing community. cspccially smallcr fishers working on hoAL8 undcr IOM, in
c¢essing Mppropriatc flnwncial ￿51￿18n¢¢ for safety improvements to thcir vessels. ond h¢lpin8 th¢rn with the applic#tion
pro¢¢s$. By.8uppofiin8 fishcr¥ lan c5tim&icd third c)fwhom la¢k the level ol-lilcracy rcquircd to complete Lomplex grnnt
#ppli¢ations) in ihis way. Ihc sal¢Ly of ￿)th v¢sJ¢l and ¢r¥w 1$ improvcd. Fishing Animalcur is a g(Trod cx8mple or'riimc
working in partnership wrythin the maritimc sector, *¥ it is ¢o.fundcd by the PishmDn8eTS' Company and I'h¢ S¢afar¢rs'
Churity.
Other grants owarded werc to the RYA, 'f&piit I.￿, Seafood Cornwthll Trainlng. RNLI, Fishermen's Mission, Th¢
S¢af4r¢r8' Chwity ond Intcrnational Maritimc Rcscue Federation.
M*lDtenanee Dfthe FAbrl¢ and Herltaie ofTrlnlty Houie
Fjxpcnditure in the ycor on this I W ccntury Grade I listcd buildin8 tot#llcd £814.000 ￿￿pared with £719.000 in thc
previous year (scc note 101.

'inily Village (value £24l.3 million 12021.. £235.9 millionll.. thc primary obj£ctivc for the ycar conccrnin8
THMC'S main inveslment propcrty [￿rtfoliO ('Trinity Villa8c") w&5 lo rnY4intain tht rental inwme as far a5
possible and mitigate the adverse irnpacts orth¢ pand¢mi¢ while thcy wert still b¢ing f¢l¢. As the impacts hav¢
Icss¢ned. the objcctive bvcame to minimise the number L)l-voids yll atjy one timc whil.st optimising (he Icvel8 Ot
renial income li)r D¢W lets. Key componcnls of this original strai¢gy were the maintcnanGe of thc e81ot¢ al a
sullicicntly hiBh stsndard kn achievc thc bcst rental levcls ￿)SsIbl¢ in the cireum5tancc5,' bringin8 b¢low-mat*d
rcnts up lo aPPT(IPTiUte l¢v¢l in & fair and m¢a5UT¢d fashion. and minimisin8 vvids. svmelimes through Lhe
Judiciou% of rent discount5 Mthere rneri(¢d. The use ol-rental di5Lounls ha5 been si8niticantly reduccd since
th¢ of Ihe pmndemic. THML ww5 constantly mindful of its reputation as a ci)nsid¢raic londlord. cspcci&lly
in respecl (Jl'the collcction L)fany rental arrears arisin8 a dircci rcwlt of th¢ pandcmic.
Given the proactlve munagcm¢nt of ihe portfolLO. il 15 pleasing tsj report that 8TOS8 rental incDmr for Trinity
Villa¥e WBS up by S.6°kn in the yedr.
'I'hc TN51ces report that the volu¢ of the &%tate inereased by 2.3% in the year.
PoriJtsllo ImYsinKnts (valuc £16.087.000 (2021.. £17,148,IM)01).
Thc primary p()rtfolio is the pcrmancnt endL)wment I'C.api(al'l ￿nd And thi8 Tecordcd a total return in th¢
rithancial year of 6.37% cnrnparcd wth lh¢ ben¢hmgTk o1.6.43%. Pcrl(?midnC¢ continues ts) bc monilur¥d by th¢
InV￿lment and E5tatcs Committee ond thc Co￿Orate Floard on a regular bpsis.
The TrlNIty HO￿$¢ Corporitt Ptll51on Scheme {lfjthe Schernt")
The Scheme is adelined b¢ncfiL8 8ehcmcand was upprovcd &8 on'excmpLdpproved SLhcme' underih¢ t¢rm8 (Trf thc Income
nd Cor￿)r￿Li()￿ Tox¢s Acl 1988. It LS ni)w d rcgistcred p¢nsiun ￿herne un¢Jttr Part 4, Chaptrr 2 of ihe I, inwicc ALI 2004.
The wo$ establishcd on l U¢(ob¢r 1977 is 8ovcmcd by a l)cfinitive Tr￿$1 l)ccd and Rulcs daicd 3 O¢tob¢r
2008 amended 27 July 2011. Th¢ 5pnnsurin8 cmpli)yeT ()I'thc Schcmc is th¢ Corporotinn iil'frinity Ili)usc of l)epLf()rd
4lrond (the Corporation). 'I'hc %¢hcmc was Lloscd to new mcmbcrs of $tsfl'with cffc¢¢ fr()m 111 July 2006. Th¢ Scheme
wa$ 81.w Lloscd from I Scptemb¢r 2006 w ¢xi8tinB 8lall.who were not #lready members.
There arc 5 activr, 10 d¢fcrred and 33 pcniii)n¢rs in the fund.
Undcr the rulcs ol. Lhe Schcmc. Appvinimcnt and removal of pension trustees is the responsibility of thc CvrpDraiion.
Ap]x)inimeDts made hy a8Tcemvnl vf th¢ Corpordte Board. In thc year und¢r rcview, thcTC was a Lhangc in Ihr ¢rus
ppvinimcni8. 1)n 20 July 2021. su¢b thai ihe pension iru51ec buurd now compri.%c$ the Chair {remainin8 Mr Richard
Sadler (Mcmber of ihc Corp(Trra¢e Board until 211 Septcrnber 21122. and F.Idcr Rrother)), 7A)& Turner lan a¢iiv¢ m¢mber
and Tlwdd of F.vents ai Trinity I Iouge) and Mr Willidm F.verard ltsn ex¢cmal indcpendcnt adviwr and p¢nsi(Trn trustce
spccilllisl). Thi5 change vf 8ov¢rnanLe allowcd the removal ofgny confliLL from haYinB senior ¢orsxir¥¢¢ cx¢cutivrs Ithc
$eLrgi￿ and th¢ l inan¢¢ I)ireL￿)rI also sillinx p¢nsion Iru$tee8 4$ in th¢ pos1. It Wds accompLtni¢d by the *ppointmcnl
of Quun¢um Adviwry l.l.P &$ the 5chcmc's aLtuariv41, secretarial. administratlve and investmcnl advisijrs. The
pwintrncnt m#d¢ olier a compctitivc selccliort pmcess involving thc pension tru5teG8 and thc C(iry>uration. -rh¥
L()rrrf)ration alqo ap￿)In1¢d independcni advisors, Hyman3 Rol>ertwn LLP, to supwrt thcm in th¢ ytr4lc8ic input ￿ the
manag¢mLnt (Trf Ihe 8chemc.
The fund L5 audiled by Bu7.7AcoiI LLP and th¢ %chemc'J Annual Rcport artd Finartcial Statement8. for thc ycar cnded 30
S¢pt¢mber 2021, arc availablc. In summary, the Schemc 15 in 5UTpIu5 a funding b&%is und a new invesimeni 8troicgy
ègr¢¢d in 2022 ljetwccn thr Coryx)raiion #nd pension trUS￿¢S. with support fr()m the advisors. Lu protcct ih*¢ surplus
in ¢h¢ L()min¥ycars. With the currenL%riJwth in gilL yield¥, it 15 collcluded (hai Lh¢ p¢nNiun schemc is in u hcaithy linancial
Id or8ani5alional posilivn.
et notc 25 for pension commitmcnts under 'Financial Rcw)rting Stsndard I02- Rctircmenl Benefits..

FUTURE PLAN5
DurinB Ihe coming year the Tr￿tte8 will seek to:
Disburse £833,UOO in annual 8rants from th¢ ¢haritics' Un￿$triG1￿ funds, and a furthcr £182,(MJO its 8rants to
other mariuTne Ghariticy and organisation$ in ord¢r tsj sllPPOrt th¢ thoritsble ￿tiVItieS.
Mortitor und mitigaie. wh¢re necc&sary. any continuin8 eftects orth¢ pand¢mi¢ on the sour¢¢8 of ina)m¢ of ly)rh
¢harities atLd cunsidcr, where appropriale, Erf>th the repaymenl of 8overnment or local authority support received
during Ih¢ pandcmi¢ ond on increase in 8rant paymcnts follo￿￿n8 previous restriction5. Con5ideralion ol. an
in¢rc4sc in gratit payments will tskc into acGoun( Ihe impac( of the current cosl ofliving crishs.
Continue tu di8bw¥e gronts from theTHMC/Dff fund towards s&fEty and trainin8-rel&ted matter4 in accordance
with 1'11MC's objects.
Continue to maintain the almshouses to a high standard and at thc fullc5t occupancy po￿lb]e.
Continu¢ to rccruit high-qualiiy Landidate5 to thc MNSS. to monitor the SU￿cOntr&Ltcd rnllnageTnent of th¢
schemc following its recent review,. and to ¢xplorc new opwrnini(ies wilh other charities ond ()rgani5ail()n5.
Conlinuc with th¢ impl¢mentOtiun OF. and rcwrting on, thc Trinity Vill&Be Bu5ine55 Plan prepared by Kni8hL
Frnnk in Jun¢ 2020, wth the ohje¢tivey of growing the net income nl. thc Gslatc and a&certainin8 thc option% for
investment dlversificatLOn.
Undort&k¢ th review L)I' fiimc'y inycstments held within 118 Lapiiul lund to ensurc thal li is LorreLUy ￿$1(10ncd
to optimise the yield and retyrn on ih¢ und¢rlyinB th¢ minimum risk dcemcd ￿CePtable.
Ensure that th¢ Corpora¢e Charity's subsidiary company. THF.l., sustains its return to fvll oper&¢ional ca￿51y.
Continue to m4in¢ain the Trinily House GrAd¢ I listed building (o an appropriatcly hi8h standgrd.
Olve ￿nsiderAtion to the in¢reued deploymcrttof ￿ndS ￿WArdS the provi8lun ufexpertise un rnuritSm¢ m¥tl¢rs
(and Bpecificlllly Deep Se4 Pllotagc) by the Corpjrnte Charily.
FinolL8e th¢ impl¢mcntation of the agrrcd rr￿)mm¢nddIioft5 of a rcvlcw of Corporate Governancc, including
support siruclure and deparbncntal pro¢edure& iniiiuled in the prior yeBr followin8 & First ImprcJsions Rcport
by th¢ (then) ncw Sccwtary, and extended into & Teview of fLrt&rtce prncess￿.
As an outcome of the Finynte Processes Rcvlew, procure ind impl¢menL an Lini¢rprisc ResourcePlthnin8 (ERPI
System to replace ¢he existinB a￿unting software.
Continu¢ lo examine and improve the ch&rities' Ettvironmentol. 8ocial and Govcmancc profile, ￿lIh an enhanccd
ro8¢h in particular to Susiainability whcre applirthle incrcpscd focus on risk dcrivin8 frorn Climate
Change.
Lontinue to asses$ i)plii)ns for rrcommcndation to ihc Court in relation tu en5uriny th*1 the Corwration's
Ch8rters rEmgi¢J lit for purw)sc.
Review. drnft and implcment an appropriate Risk M8na8ern¢nl Fram¢work for the ¢xistin8 Risk R¢8ist¢r.

FINANCIAL REVIEW
FinAncl*l
Th¢ accuunts followin8 this Annua] Report Show thc combined Accounts of thc Corporate Charity and THML (together
'(he eombined chaTi¢ies'), and Lhe Group A¥'wunts which al30 includ¢ the results of the Corporatc Chariiy's Iwo
subsidiary companic4 Trini¢as Services LimiLed and THEL. The following narraiiv¢ rclatC5 to the Group A¢¢oun(s only.
So￿1ng with by far the larger of the charities. THMC'S unrestricted li]nds pr()duGcd net income in the year ijr
£375,000 cornpared with the p￿vIOuS year's net income of £39,ofM).
TIIMC'3 unreqtricted inci)mc rose trom £7.5 million to £7.6 million. as a result of a S.6% InLre￿ it) Trinity Village
estate in¢om¢, which totalled £7.0 million for thc ycar12021: £6.6 million). partially offset by rcductions in other income.
IlnTC51riLted charitable cxpenditur¢ ￿talled £3.9 million wmparcd th £4.0 millivn in thc PTCVLOUS yeor. This ¢ompriscd
£1,299.QDO on wttlcare octivitiC5. £2.484.000 on youth npEM)rtunities and training. and £83.0(K> on publie safety and
¥ducation. lJnrcsirlc￿ ¢xpcnditure raisin8 fund% was £3.4 million in the y¢ar, thr satnc a5 the previou5 year.
()v¢rall. Aflcr takin8 accounl of ¥n o¢tuwiAI guin the pen8ion schem< {undcr the pmviyions of FRS 102) of£447,000.
THML'S unr￿￿Tel¢d rcsetves inereas¢d by £1122,000 to £2,438,000.
With rcBdrd to THMC'¥ rcslrictcd tunds. grants tsjialling £1,569,000 w¢re disbur¥cd in thc year trom the TFIMLDIT
und. These granl payments wcr< in support ofimprovin¥ ih¢ safcty of IJK fish¥rs and thc ba14Lncc of th¢ Fund 41 the
year cnd was £340.0011 lscc not¢ 22). THMC'A r¢slric￿d fund5 at (he ycar end .8tood at £521.￿>0 comp&red with
£2.094.000 at J l Mowh 2U21.
THMC'S pcrman¢nt endowmLnl {'Capitsl'l funds Increa8ed by £5.9 million in the year to £263.3 million Isce notc 23).
This Wd4 matnly a result of%L 2.3% r¢valualion yin i)n Lh¢ Trini¢y Village inve8Lment property p)rtfoliD which, at the
y￿r end, valucd at £241.3 million.
'rurning tu th¢ Corporate Charity it$ sub$idiarie4 room Icttln8 income in¢￿sed to £276,(K)O durin8 the year from
£7,000 in thc prioryedr. THF.l. reLeivcd £29.￿)0 in Bovcrnmenulocal aulhnrily granL8 to sUp￿rt il (hrough ihe pand¢mic
18e¢ notc 41. 'fhe lighthous¢ iuttagc Iciling income ot"rriniLas S<rvicc5 IdimiLed in¢r¢&s¢d from £75l,Ul)O in th¢ pr¢viiius
year to £1,461.01)O. As ¥ re8ulI, the C.urp()Talc C".harity's ovcro11 incamc incrcased from Ll.0 million in ihc previous year
lu £2.4 milliun. Thc Cory)orat¢ Ch8rily'8 expcndi(urc incTcased Irom £l.S Million in th¢ pr¢viow y¢ar to £2.4 million,
lar8cly as a re%ult of lh¢ increascd li8hLknusc ¢oi(age Icttins aLtiviiy together wth a (?ne off crcdit o1.£288,000 in Ihc year
cnded 31 MaK.h 2021. As a r¢8ulI. thc C1)r￿)rate Churily incurred nel cxpenditurc of13U.OQO b¢forc inve8lmeni gAins.
Ill should be noted thai, cxLludin8 thc depre¢iation ihzr8c, nct incum¢ was 198,000.) Overall. aftcr inve.4Lm¢ni Bains or
£25.OUO and an ￿Lu￿rIal gain ol'£192,000 on the p¢nsiDn schemc. the Lorporat¢ Lharity showed a nc¢ in¥rro.4¢ in funds
of £1 B7.000 to £10.9 million.
Over&ll, the totsl combined lunds of the Iwo chariLiL¥ and ¢hcir subsidillrles stsTrod al £277.2 million ¢LTrmparcd wth £271.K
millivn at 31 MarLh 2021.

IDwe4trntnt Polley
THMC'S itjvestment wrtfoliv is comprised i)f Tcsidential And commcrcial pro￿rtY I'l rinity Village'l which valurd
ai £241.3 million at 31 Mmrch 2U22', agricultural holdings valued at £5.7 million; and tx)rtfolio inv¢stments (including
h awaiLinB investment) valuoj at £15.] million. The Corpora¢e Charity aly) has portfolio investmcrtts which wer¢
valued at *l.O millivn.
The Trustees, policy with regard to Trinity VillAge 18 to..
Seek the maximurn lev¢1 of SUS¢ainable rental in¢ume consi5ten¢ with good 5teward8hip u u14ndlord,'
Und¢rtAkc schedulcd and pcri()dic propcrty maintenllnce (JbligaiiL)ns &8 they Arise und in 4ccordance with high
8tsndards of workmanship and sale working praciicc.
Lnhanoc further, appmpriale, the prime re$Ed￿lia1 area5 of Trinity Villa8e intemally And externally.
Examine upp)rtunities fvr strategic rdevclopm¢nt ufcomm¢r¢iAI propthic4 usually upon rcvcrsion oficaw.
During they￿r¢￿dCd 3 1 Marbh 2021. theTrusiecsrcccived. and *igrccd ts) implemertL ihe recommendaii(Jnsof i bu$in¢ss
plan prepared by Kni8ht Frank. the cstdte Man￿8Cr5. fDllowinB iheir Strate8i¢ wirw in the prccedinB y¢Jr. Whi181 the
implcmcntation ofthc plan WBS delayed by ihe p&ndemlc. a numberi)f specific,diaLrele feasibility yludies were pruBrcgsed
in the year under revicw in order that ihey ¢an be p￿sented lor approval by th¢ Trustces a5 500n Ms #PPT()priate. The
bjecliwc5 ofthc plan rcmHin the ¥usthinablc gr(Tr￿ uf net in¢ome frvm ihe estsite, Qnd investment divcrsification.
Durin8theyeaT, th¢Trustecs' TM)licy wlth regard to the primllry Inv¢ilm¢nt portr()lio (the THMC'Capital Fund'l remaincd
to 8row thc I'und in ordrr to 5UPPOrt cHpit&l ¢xpcnditure on Trinity Villagc. Accordin8ly, B1￿kRoCk in$tructcd to
maintain A primarily ￿5$1¥¢ approa¢h provide a wstseificienl way of Bai¢Jits8 exposure to dcvclo￿d liquid markets
{i.¢. ¢quitics. bonds and gilts).
The A8r¢¢d a&qei allocations arr a5 fullows:
(Notc 161
Sharry r)ev¢loped Wurld Index Fund
CIBP Iled8ed
MSCI World Net
TR Index
67.5%
67.1%
Share5 UK Credit Bond Index Fund
iBoxx 8terlin8 Non4iilts Index
17.0%
17.2%
Share8 Index Linkd CTilt Index Fund
I".TSE ACtU￿)eS UK Index-Llnked
Oilts over 5 years
8.ovts
8.8%
Sh¥res Emtr8in8 M#rkets Indcx Fund
MSCI Ernergin8 Markets
Index. Net RetumA in GBP
7.5%
6.9%
Prlnclpal wncertmlntles
'rhr co￿OratiOn,5 Risk ReBSSter 15 rcview¢d Lwice a year by the Audit and Ri8k Committce. Oncc revi¢wcd. the Re8ist¢r.
togcther with ¢he minutes of the mcctinB in whi¢h li 18 rcview¢d, are diKus8ed And approved by the cOr￿￿tc B(iard.
Thc Register wvers all aspccL$ of the CorFX)ration'$ operations including pro￿rtY and portfolio inveslmeni mana8emenL
the 'frinity Hou¥¢ building and cvnknts. income l¢vels. finHncial mgm8cment, humatt re50urccs, pension provision,
inf¢)rmation technolngy. re8ulalion> governance and lossof repuLation. All rrf)iential rL8ks are a￿￿Sed on their probability
of ts¢iurrencc and impact upon thr CoTporation E%)th 'prior to mitigotivn. aThd 'post-milig￿loll' on a scale rnn8in8 from
'very low. {less than IO% chance) likeliknod to 'v¢ry high, (morc than 80% chance).
io

The Re8iStcr idrntitics the key risks to the charities and subsidiary ¢ompani48 to be as ftsllows:
Trinity Vlllage Ftsiale.. lo￿ or diminuiiun in v&lu¢ of property &55et5.' fluvd risk (both pluvial and fluviall., Ios5
of incume for chaTitablc purkM)ses' liLiBaLion by tenants and leasehuld¥rs,' prosecution by siatutory authoritic$'
railure to expluit a&s¢t value- insLLtTJcient diversity in thc pmperty and investment porttolio.
'I'he Trustees believ¢ that the abovc ri5kJ hav¢ been mitiB&tsd by the retenlivn. ￿nd sup¢rintendenLC, of suitsbly
qualified and experienced pruperty mana8etnent a8ents and survcyors. Icgal advisers and irtsurance broker8. l'hc
manU￿ing a8ents and lawycr5 pri)vid¢ r¢gular detailed rcporL% thal llre dis¢uss¢d at quArtcrly monitoring
m¢eiin8s, and the F.xecutivc alsi) rew¢ through the Managcment Cvmmitt¢¢ gnd Investtncnt and E$tst¢&
Committ¢¢. to each mccting i)fthL Corporote Board. Other less formal m¢eiings are also r¢8ul&rly held, ollen
on the estaie itself when li has been p05siblc to do Su. The Trllstee8 also rctain an Honordry Surveyor who
atiends thc Invcstmenl dnd FJtates Lummittec. is ind¥pLndent ofihe prof£ssiiJnal advisery and fmm whom they
occasi()nally scek adviL¢.
Th¢ 'frust¢¢s maintain suitable level$ of reserves ts) mitl8aLe a￿1n5¢ a Ioss itt Tenldl ithcome fr()m thc csiatc.
irtc()me and expendi(ur¥ arc lllsi) munitorid by the 13u%Lrd thIDu8h the production ofquurterly managcmcnt
8ccounty ond ￿d8¢(s.
Notwithstanding th¢ above miLiWion. il i5 the.l-r￿StCCs, inlcniivn to undertslke a review of THMC'S inveslmenl5
hcld within il5 Capilal luDd io ¢nsure (hut it is corrcrily positioned iij optimis¢ th¢ yield dnd rdum on th¢
undcrlying ￿$¢(s. ai the minimum rijk dccmcd acccpluhlr.
Trinity Hnmse Bwildlng.. Ios5 of roorn Idlin¥ incom¢ Ithrou8h the CoryJorHliort's subsidiory wmpany. 'l-IILI.
Se¢ bclow). pDtenii&l lo&¥ i)I' lil¢ or injury and dama8¢ Lo property ihrough firr, flvod. terrorism or inwdcquatc
maitsi¥n#n¥%,' failur¢ ul'iht building mana8¢m¢nt syslem, loss Ol-hcrith￿e.
'I'h¢ Tr￿l¢¢& believe that ihe ab(?ve ri8k8 are miliytcd by regular propcrty m4illLen#n¥c 8nd ￿relY Lhccks, fir¢
dri115 and micws of eva¢u#¢ion pri)Ledurcs. In5ur&nLc is revi¢wed unnually and a planrted mainlenan
prugrammc, drawn up and m#na¥ed by thc C()rpuration's surveyi)rs 411 Clutton%, IS LILrriLd ou¢ each ycar. 'fhe
surveyL)rs also ensure tha¢ full compliancc with building And ather re8ulations 15 rnaitttsi#cd. The Towcr or
London hu$ kindly a8r¢ed L() providc cmcrB¥ncy consc￿2¢1)r #nd stor88C SUPPOrt f(Trr the flne uri tr¢asure8 in thc
cvcnt of An in¢id¢nt.
InLomc from Lhc IclliDB of Ihc ¥er¥monio1 r(i()ms and thc huilding'¥ maintcnance ¢(Trsts arc M()nI￿red by the
Hoard hy meuns of quarierly manogemenl accounts and hudmcis. In Addiiiiin ￿ fr£¢ reservLs. Ihc Trusic
mÈLintoin o design&ttd fund I'llousc D¢signated Fund,) tt) ¢nsurv ihat suffi¢ienL munic5 arc available for m*jor
r¢pairs and rc￿rbIShmgThlS to lh¢ building, knth cmer8cnLy and planneij.
fnvld-19.. whils1 ¢hw ar¢ ¢hou8hi lar8cly to have poswd, thc cll¢ct8 of Lhc pandcmic wsed, and ￿ 8 limited
dejjrcc Still p(?8e, diff¢rin8 risks to thc CorFMTrrute ChAiity and'l'llmc, as w¢ll tt) (hc hcalth and s#f¢ty ofstsff
and visitors. lTre hi8g¢st ri.lk I.￿ Lu￿cntIY &s%essrd as Ihc emer￿enLe ora si8nificant rtcw vwittni bringing with
it substsnlial re-imposition ofTcstrictions and constraints.
For thc Li)rpor41¢ ChAriLy'. thc risk i(Tr incumc lassi)ciuted with thc in&bility lo ILt rooms in thc buildin8 ihrou8h
¢()mpliancc with rclaled Icgislaii(pn guidance. and the dimini5hcd public appeti* fur Cvcntsl w(Truld again
l¢ad to d¢pleti()n of TC8crvcs and poicniial foilure ofTHF.L &$ a Bolng cvnc¢m.
Th¢ Trustees belitvc thai ih¢sr risks would be mitl8atcd by similar cours¢s ol. arlion as previously. wh¢r¢
Applicdblc, including acccptance of gov¢rnmenl.%upport-. thc rcBular and frequcnL mi)ni(i)rin8 ofthe company's
ash flows, hoth actulll and 10￿Ca&t. and i)perational rc4ULrement8' utsd th¢ minimisation ol. any apprupiiute
variable costs. Th¢ direkn'iors of THEL remain alert ￿ the nred to ensure that the company remain3 a goin8
Risks to staff and vi.%itors would again inLludc thc possibiliiy of &rt outbreak in Trinity House l¢ading to ¥nfur¢ed
closurc of the building {dependin8 on prevailing requirements), fvrther loss of incomc, liabilily and rrputational
damage. This would be mitlgdled by a full risk as5C55mEnl re%ultin8 in all mcasure5 having heen L&kcn, al and
when ncccs5ary, tsj r¥ndcr and sustain Trinity I lous¢ &% a Covid-saleenvironmcnL ()ngoing £wranBements within
thc Housc would b¢ compliant with Ic8islaiion.

For THMC.. risks to incom¢ from Trinity Villa8¢ asao¢iat¢4 with ¢he inability ofrcsidcntial tenants to pay renl
commer¢i41 t¢n#ni busin￿5 failure4 excessive voids at lockdown, govcrnmcnl constraini$ on landlord& and
br()ad<r impact on the rental market in Lvndon in Beneral and in the area of Trinity Villag¢ in partirular. Any
impact upon inLome would aBain &tlec¢ Gharithblc disbUr￿mtnLs and estate husbandry.
The TNst¢cs beli¢vr tha¢ thcsc risks would b¢ mitiBaod by ¢arefvl superintendcrtce from their estate mana8er5.
Kni8ht FranK advice from them and uthers. and taking careful ae¢ount ofiessons learned from the pundemic lo
date.
The TnJstccs have a&8&s8ed th¢ major ri8ks to which ihe chllriiiei are expos¢d and satl8fi¢d that IheAe have
beeo id¢nlified, and that appropri9* measu￿$ err¢LIive 5y5tems and controls 4re in pl￿ (o mi¢igotc them.
I'h¢y intcnd reviewitJ¥ risk on & tnorc frequcnt basis, with the creation hnd adoption of & Risk Framework
enable better usc of th¢ Regi5tcr as a practical mana8¢m¢ttt t(K>l.
Re$trye8 Pollcy
Corpt)r•le Charlty
The Corporatc Chariiy hHs reserv￿ tothlling £IO.002,000 wmpri8ing designa*d fvnd8 (£9.263.0001. a pcn5ion r¢s¢rve
(£220.000), r¢striLLed fvnds (£60,O¢X)l and unrestrxcted fun(ts (tree rescrvcs) of £459,OOU. The desi8ttatcd fund8 are rn￿e
up &s fullows..
110￿￿e De.*lgnaied to en%ure that the LurrAir8le Chori¢y can maintain thc fabric and hrrits8c of Trinily
HO￿￿e..fOWer Hill, IAbnd()n, spccificolly ineludin8 any major r¢liirbi8hmcnts of the building be carrid ()ul in
gceoTdDnec with lonB-Lerm maitticnanbe plans up by Lhe cor￿￿rat¢ Chority's surveyors. Thc cost& of
rnaintdinin8 g Grode I lis¢d building wre high ynd th¢ plan hgs identified ¢he r¢quirem¢nt for cortsid<rable
mainlenonec cxpendiLure (bver the next 5 year5. This is esyeniial in lighi of th¢ building's lisiing and the
nccd to maintain it to a hish $￿ttdard io attTIILI Llicn15 wishin8 to hire the funLtion rooms, Ihus susiairtirtg thc
Corrrt)rate Charily's room Icttin8 in¢nme. The b&lanc¥ uf ihc Pund is £444,0(X) (2021.. £444.OIK)).
FiredAx.f¢ls FNnt*. this is repKien(cd by tllngible fix¢d 888Ct8 Th)t readily available to meet exp¢nditur¢ and the
balgnce at the year end was £8.8 milllon12021.. £8.9 rnilli()n).
The Trustccs revi¢wed ond am¢ndul Ihe Lorpornle Charily's frtt rcs¢rvcs sx)li¥y in May 2021 in lishl of thc criticalily
ol-lree r¢8¢rv¢s to ihe resilicn¢c required io survivc thc pandLmic. During thc ycar underrcvicw, th¢ pvlicy ori8inally
to mainthin frcc rcserve5 level CqUiVAleni kn briwccn thrce and six month$. opcroling cxpendi¢ure. I'his level was
subscqucntly amendcd to betwe¢n six and nine mvnihs, opcr&tin8 cxpendilur¢. in OTd¢r lo providc 8rc4￿r rvsilirttce
aB&irtst &ny advcTSC future ev¢nl8. Thc balanLC l?rrTer rc5crvcs aL the year end w&s £459.0001202I.. £623,UUO) which is
equivalcnt to ¥PEKoximately nine months, operating exFndlturc and IJ in line with th¢ ¢op ¢nd of th¢ Trustees, turB¢t
rangc.
Trlhity Ho4Je Marldm¢ Ch4rlty ITHMC)
'ri IML ha3 rcserves totallin8 £266.3 milli(Jn comprising pernjancnt endowrncnt fundB1£263,3 15,000). designR¢¢d funds
(£677,000), 4L Pctision rcserve (£573,000), res(ricL¢d funds (£521.000) and unrfy4tri¢¢¢d fvnds Ifrcc r¢s¢rv¢sl vf
£1.188.OOQ. Incomc reccived from thc pcmianenl endowmcnt funds is availablc for 8cncral pur[￿se3 in Sccordanrx with
THMC'S gov¢rninB d()cumcnt5. Thc deyiBnakd funds arc madr up as f(?Ilvw8:
Iraordint7ry Repair Fund.. to meet thc requiremcnt or 'rHMC's 8ovcrnin8 ducum¢n¢ to provid¢ for
exlraordinary rcpairs. improv¢menl rebuilding of Trinity Homcs at W&lmer. At the year cnd. thc balance uf
this fund was £177,000 {2021.. £177,000).
Alvrchanl S¢Aolorshlp .fcheme fynd {AINSS): the Trustecs. ￿lIcY is lo m#inL4in this fwid al A level
cquivalcni to bctween three and six months ufthc opcratin8 costs of the MNSS. The b4lanc¢ of the fund at the
ycar end was £500.0(K) (2021.. £500,0(rt)) which w&s cquivalcnt to approximxtely thre¢ months, op¢ratin8 COSI$.
As with the Cotpora¢e Charily. the Trustees reviewed and amcnded THMC'S frec r¢s¢ryes policy in MAY 2021. Durin
th¢ year undcr rcview, the poli¢y was originally to rnaintain free rCSerV￿ at a l¢v¢l ¢quivoienL tij ￿tween ihree and six
months, opcrating cxpendilurc. The l£v¢l was 5ub5equ¥ntly arnen(kd to between Bix and nine months, operaiing
exp¢nditurq again in order lo provid¢ gr¢&t￿ ￿￿111¢ncC win5t any adver5C tuturc cvcnts. The baldnce (Trt-tree ffsErvc5
91 the yrar rnd totallcd £1,188.000 (2021: £772.(NJO) whA¢h is equivalcnt to approximately seven months. operating
expenditure and is wiihitt the revised targe( rang¢.
12

STRUCTURE. GOVERNANCE AND MANAGEMENT
As explained above, Trirtiiy House w&4 inc4)rporated by Royal Charter its 1514. A Charter ofconfirmation WAS grani¢d
in 16115 although Supplemrntal Ch£rter5 WCTC graThtcd IOT 3PCCiti¢ purp05¢8 between 1870 and 2022 Ilhc l&test hawing
been gran￿d on 31 January 2022). the 1685 Charter r¢mwns lh¢ Corwration's principal gL)v¥rning documenl. The
Corwraiion'5 du¢L¢S a5 a General Lighthvuse Auihority Bre conducted undcr puw¢rs given by the Merchant Shippin8
Acts. However, the fundin¥, op¢rA¢ions and mana8tmenl orth¢ Lighth0￿$t Authurily 3r¢ cntirely 8eparatc from those of
Ihc Corporation'5 charity und¢rtakiThg$ and. &s a rc5uIt. arc not dealt with in these ac¢ouDts.
l-he Corwrate Charily is the principal eharity (Registruiion Number 2118691. THMC is a subsidiary tsf the Corwrate
Charity {R¢BiS(r#iion Number 2 LIS6￿23) and is Boverncd by a Scheme of the Charity C(Trmmi5sion 7 Auguqt 1995.
The Charily Commissiun ¥ranicd a lJniting niir¢tion tsn 24 May 2004 t<> enable the two chari¢i¢S to b¢ ¢ombined for the
purpo8¢s of rgp)rtLIJ8 and thc prcsentalion ofaccounts.
The Members ofthe CoTporatc Roard Are eleLted by the Court ol-Ih¢ CoT￿ration and a¢t as Lh¢'frustecs of the charitics.
Th¢ Trnsices. who 5ervcd during ¢h¢ period fTum l April 2021 ts) thc dalt of thi8 Repijrt w¢rc as follows..
Captain lan McNaughi CVO MNM (fjeputy MaFler)
Rear Admirnl D&vid Sne1￿￿ CR (i¢isivdll JNKe 2022)
cap￿¢￿ R()8¢r Bark¢r MNM
Cupiain Sicphcn Gi)bhi JP MA I.LB
Captain Ni8cI Hope RD* RNR
Comm(Trdorc William Wdlworth CJIE MNM RFA
Commodore Robcrt Dorey RFA
Captain Ni8cI I lare MA MRIN
Malcolm (ilai51rT Itsq.
Richard S&dl¢r Esq. (iellred2n Sepiemb¥r 2n22)
Rcar Admlr&l lan mOn¢ri¢￿ CBE T)[. {uppoinled 18 O¢lober 2Q22)
Hon. Coplain Lance Flalchelor RNR {appolnled IN Orlob¢i'2022J
A,B,C.D
A.B,C
JJ,C.D
lJ,C,D
Cnmmliiee Membershlp..
A Alenrber oj'ihe Managem¢nl C.'ommllle
8 Member oJihe ltr¥ve.¥imEhi Ltlales Commillee
C M¥mb¥r oJihe Audi¢ andRisk Commillee
Membvr of ihe Remun¢ralion C'ommiiiee
I'h¢ Floard meeL8 1(Trur times a ycar and has aprKJinted a numbcr (Trf cnrnmit(cc$ to di8¢hArBe ccrtain funcLions. The
committees arc c0n51ltu￿d thc Inve4Lmtnt and F.staics. Audil and Risk. and R¢mun¢r4(lon CommiltCC5. '1'h
M&n&8cmcnL Committce 18 c()nslituied with IL% dUthoTiLy pari wilh lh¢ o¢h¢r commillees wnd MCC￿ four time% A
year. in thc in(crvals b¢tw¢¢n Board mccLin8x.
Commodorc Martin Athcrton ()BF. MA IIN 1% ScLYCtAry to the Lorporalion. Th¢ S¢cr¢lury is thc Chi¢fLx¢cutivc orricer
ofthc two rh&riii¢8 w¢h day-l￿d*Y rcsron3ibility for th¢ir cffective Ope￿LiOn and adminis(ration' he is alw r¢sponNible
for the adminisiration and L().ordinotion FrAlcrniLy.
'I'hv Corpor*tii)n'% Royal Charters provide for the election of 31 active Llder Fjrcthrcn who Goll¢¢tiv¢ly wnstitutc thc
voting m¢mbers ofLhc Court. itsBov¢min8 body. All the Trustccsof thc chatitses are F.Ider Breihren and CouilA5SiStants.
-I'he Court is ¥upp()rted and advi5vd by a fralernity c>f Youngcr Brethrcn. IM)th rncn and w(?mvn, who repreyent thc bT(Trad
con%tiiuencics with whiLh thc Corwrdiivn is asso¢iaLed. Thcsc peoplc arc likely lo bc s¢nior pr()le85ionals from Ihc Royal
Nyvy or th¢ M¢rLhantNavy, Pili)L¥ vr Harbour Masters,orthosc cn8a8ed in other RTc&sof Mariiim¢ in¢luding thc shipping
indu.slry and associatcd bu5inc5Se5 or.%iatutory agencies: othcr5 may havc a background in sailinLi 4)r thc volunlary scctor.
Thosc 8eleckd ￿ scrve #s Tru8i¢es reflc¢l thi5 broad rangc ofskills and ¢xp¢ri¢n¢e, and thc Iloard thercforc compri8es
extensive knowlcdBC and ¢xp¢ri¢n¢¢ ol. the maritimc seLior in its widc5t 5cnsE. All ate, or havc been. scnior fi8ufES in
thc scctor. M05t also 5cryc on the govcrnin8 Ix)die5 of. OT arc &swcial¢d wih. othcr agencie8 and charities. Two m¢mh¢r5
of thc Board havc porticulllr business or inve5tmcnt cxperience resp¢¢tiv¢ly and thlso, during the year. 5crv¢d #s trusL¥¢s
ofthe 1'rinity House Ci)rrA)ratc Pension Scheme. IM¥lcvlm Glaisier resigned as a trustee of ihe I'rinity House Corporatc
Pension Scheme vn 20 July 2021 as part ofthe revi¢w vf its govcrtsance.)
13

Sin¢¢ Trust¥¢J are elected from within the wider Fraternity. they will normally already hav¢ an understhndinB of thc
fL￿L(l￿nS ot-Triniiy House's eharities 8nd iheir op¢ration. Ncvcrthcless. new Trustces are made aware of their sl&iutory
responsibilities and bricfcd formally by the SeLretary on their role. and the charities. governing docum¢n¢s tlle
way in which the Tjustcc body oper&k&. and the a¢tivili¢s ot'th¢ ¢hariti¢s. TTUSt¢¢s are alsv apprised of developmellis
within the sector.
The staff of the charities are leil by the Secrctary. They are engaged in financial and operational administratio￿ itKome
gcneralion and ihe provision of 8uptx)rt services at the Corporation's hudquartcr5 buildin8 ￿ Tower Ilill. THMC al80
employ5 a smo]I s￿ff ut Trinity Homes in Walm¢r.
'rhe kcy pcrsonn¢l ar¢ th¢ TN$tCC5, th¢ Secretary. the Finance and Commerci81 Dire¢ts)r (who 15 a]so a Dqjuty Secretary
lo th¢ LorwTalion). the H￿d of Events and thc Hcad of Charitablc Giving.
Staff salarics are reviewed annually by the Coryoratc Remuncration Commiite¢ which ¢omprises thc D¢puly Mastcr and
the Iwo Business I Investmenl Tru8t¢e4 un¢ of whom act5 as Lhair. The Corwrdlion bttlieves in attrACtirtg und r¢Lainln8
high quality staff for the lon8 tcrm, and a fitm of consuliants was en8a8cd to catry a ¢omprehensiv¢ benchmarking
review against ￿tCrnal pay comparators in 2018. Thc recommcndations of this review were geThcrally implemented in
the lin?￿1&1 y¢ar ended 31 M&rch 2019, with a futther revicw scheduled for (he ycar cndin8 3 1 Morch 2023.
As mention¢d aFM)vr, the Corpor&te Charity has twu wholly owied subsidiary companics. The first, Trinit￿ Services
ljimitcd. was in¢orporatrd in 1993 and its. principal activity is thc OPCTation of 37 lornier lighthouse keepers, Li)tidges as
holid&y ac¢ommodaLion Bod short tem) lel8. Two of the tive directors ofthc Lomp&ny are also member8 ut'th¢ Cory)oratc
Board and a third director is the Secrdary to the Cvrwr8¢ion and Chief Executive of Ihe charhtles.
The prirtLipal activity of the sccond CumpanY￿ THEL. is Lh¢ l¢ttin8 of the fun¥tion r{￿M$ Trinity Huuyc. 'fwv of th¢
¢ompany'5 thrce dir¢¢tors arc members of thc Corwratc Bo4rd pnd the third 13 the S¢crctsry t(> thc Lurw>rd(ion.
Fmndrntslng Slalemenl
The ¢harl¢1￿ do nol aclivcly solicit donilions and ihereforc are not rcgiNlercd with the FundraiAinB R¢gulAtor' ¢hey do not
wbscrihe w 4ny thndralsin8 code5 ufpT#¢¢i¢c. When dona(lons from individuals are rCc¢1v￿. th¢ thariues alm to prote¢(
perxon81 d4la nevcr scll dath nr swap data with other organisations. Durin8 2021 and 2022, the Lharities wc¢ived no
cornplwni8 about fundr&i8in8 activities.
14

THE CORPORA TE BOARD'S RESPONSIBILITIES Ir4 RELATION TO THE ACCOUNTS
Th¢ co￿K)rate Board 15 r¢swnsibl¢ for preparing the RepuTt of the Corpuraie Board and Group Accounts in accordance
with applicable law and Uniled Kingdom Acwunlin8 Statsdards {Unitcd Kin8dorn Gcncrally A¢c¢pid Accounting
Practsce).
Th¢ law applicable to charities in England 4nd Walcs rcqulres the Corporate B0￿d to prepare I￿O￿nts for finan¢ial
year Lhat 8ive a true and fair view of the stale uf 4LtTair5 of ¢hc ¢Dmbin¢d ¢harilics and thc 8Tnup Iihe combined ¢harilies
and subsidiary cornpani¢s1 aDd of th¢ incomc and cxpenditure of the charirics and th¢ group for that P¢TiVd.
In preparing these A￿￿unt4 the Corporate Bo8rd ib required ts)..
S¢leLI Sultable ac￿Untin8 policics and then Hpply them ￿nsISten(lY.
Ob%crvr th¢ m¢thod8 and PTinciplGs in Accounting and Rctx)rtin8 by Lharitics.. Statement of Rw)mmendcd PraL¢i¥e
applicablcto ch*LfiLies preparing thcir llccounts in accordance with thc Financiul R¢porting Standard applic&blr in ihe
UK and Republic of Ireland IFRS 102);
MMkejud8emcnts and <stimak$ thal #r¢ r¢a30nuble and prudcnL
StA¢e whc¢h¢r MpplicY4ble Uni(ed Kingdtsm ALLountin8 stsnd&rds have been follow￿, 8ubject to any mat¢riil
departurcs discloxcd and cxpl4in¢d iii th¢ accounts; and
Prepare thc ￿counts vn thc 8cJin8 conc¢rn buis uttless li 16 inappropri4¢¢ lo presume that the chariti¥s ond ihe 8roup
will cvniittue in opcraiion.
The CvrporALe ]4oard is rcsponxiblt for kccping pn)per aC￿untIng records thai disLlose with re&M)nabl¢ ￿QUraCY It any
limc the fLnunLiul posltion (?I'ihc ch&ritie8 und thL group and ¢￿ble it ts) ensure tha( thc acLuunts comply with thc Clwill¢S
A¢L 2011, appli¢8hle Charily IA¥LL)unts and Rep(Trrtsl Rc8ulaliLlrts and the provisions of the LharitlCS' Buvcrnini
d￿￿M¢￿¢S. 11 is ulso rc5ponsible for Saltgu￿￿lnB thc 83sets ol'ihc chariliciund thc 8roup ond hencc for taking ￿aSOnable
steps for th¢ prevention and driection of fraud and othcr ittcgulariiics.
Approved hy the Corporaie ]4oard on 29 Novcmbcr 2022 and signed i)n its bchalf by
L'apiuin IAn M¢Naughi L v()
Deputy Maslcr and Chair of Tru51crs
15

CE DET
Prln¢lpAI Offlee
rrinity House
Tower Hill
London EC3N 4DH
Telcphone:
Website:
020 74816900
v.liini
Advlserj
Audttor.
BuY24wtt LLP
130 WcM)d Str¢¢t
LoThJon F.C2V 6DL
Man¥in8 A8ents'.
Knight Frank LLP
55 Baker Street
London WIU 8AN
Savills Ltd
33 Murgaret Street
London WIG OJD
Suryeyor8 to the
Corporate Charlty..
Cluttons LLP
2 Portm8n Str¢d
London WIH 6DU
SolScltors'.
Forst¢rs LLP
31 Hill Street
London WIJ SLS
Stonc KinB LLP
BouftdBry House
91 Chartcrhou3e Strett
London ECIM 6HR
Inves¢ment MAnA8tt1:
BlackRock UK Retsll Client M￿￿¥ement
12 Throgmorton Avenue
London EC2N 2DL
Banker¥.'
Borclayi Bank PLC
Lcvcl 28, 1 Chur¢hill Place
IA>ndon E14 5HP
Pcnsion Advi8¢rn:
Hym#ns Robertaon LLP
One London W￿1
ndon EC2Y SEA
16

INDEPENDENT AUDITOR'S REPORT TO THE CORPORATE BOARD OF THE CORPORATION OF
TRINITY HOUSE OF DEPTFORD STROND
Oplnlon
We have audited the accounts ot the combincd GharitlC3 of the CorporaLion ofTrinity Hou8e ofD¢pLford Strond and ih¢ir
Iubsidiarics (tog￿h¢r,Ih¢ Broup-) for ihc year ¢ndcd 31 March 2022 which comprise the 8roup and combined ¢hariLies'
51al¢meni of fin4llLial actLVLti¢5. the group and Lumbined charitLC5' balanc¢.8heeis, the 8fL)UP Statcment of cash flow$, th¢
principal Accounting policics and the related notes. Th¢ financiY41 Tew)rting framework thai h&8 been applied in their
prq)itTauon is applicablt law and United Kin8dum Accounting Stand3r(ts. in¢luding l-.inonei&l Rcporting Standwd 102
'The ￿l￿￿¢la1 R¢tA)rtin8 Standard applicabl¢ in the IJK and Republic of Ir¢lond' {Unit¢d Kingdom Gcnerally Ac¢eNed
Accounting Practiccl.
ltt our opinion, the ac¢oun(s=
• give a (rut dnd fair view trf thc 5talc of th¢ group's aJKI of the combined ¢harili¢s' aftairs as 8t 31 March 2022 &nd of
their In￿Me and cxpendiiurc lor Ihc y¢ar Ih¥n cndcd.
* havc bccn properly prcpared in Ac¢ordan¥¢ with Uni¢¢d Kin8dorn Cy¢n¢raJly Accepted ALLM)unting Pra¢ti¢e: ond
• havc b¢¢n pr¢pMrtd in accordance with the r¢4uircm¢nts of thc Charities Act 2(111.
B*sts for oplnloD
W¢ ￿ndULled our audii in a¢cordan¥¢ with Int¢rnalivnal Stllndurds on Audilin8 (UK) IISAs IIIK)) and oppliLablc law.
Our rc8P()nyibilitlC5 undcr th08c S￿ndardS arc further desL'ribcd in th¢ audi¢or'sr¢spon5ibilitics fijr th¢audil ofiheaLcounL8
siction ol'our report. Wr urc indcp¥ndent ut'the 8rnup in accordanr¢ with ihc ¢¢hical requiTcrncnL% ihNt ar¢ rclevant to our
Mudit of the accounts in ih¥ UK, includin8 ihc kRC's F,thi¢41 %londard, and we hdve fulfilled ow o¢her ethical
r¢¥ponsibililies in occordanL¢ with ¢he%e re4uircmcnts. Wc believe thai the audit ¢vidence we have i)tJtaincd ij suifiLicnt
ond appropriatc (o pmvide a basiA l<Jrour opiniijn.
Conelujlonj rel*tln% to iolni eoncern
In auditing thc aiLounts w¢ have Loncludcd that Lh¢ Corpnr&Le Board's usc ofihe going concern b4siN (Jfaceountini In
Ihc pr¢parA(ion of Ihe dccounls is appropriate.
Hascd on the wDrk we have pcrformed. wc have n(Trl id¢niifi¢d any malerial unccrtuiniics r¥1￿￿n8 lo cvcnts ur c(?nditions
IhaL individually i)r cullcctivcly, may easi %ignifi¢ani douhi on the charilics, or gr(?up's ahiliLy to conlinuc as a Boin
cunLcm for a pcriud of al lethst twclvc mi)nths from when th¢ A¢￿Un￿ ar¢ 8uth()riscd for issuc.
Our TC5pon%ibililics and the rcsponsibili(ies of the tru.i¢¢¢s with r¢5￿1 ts) 801ttg concern d￿cribed in ihc rclcvant
s￿lI0n5 ()t'thi5 rcpori.
Other Informxtlon
'Ihe Lorporatc Board is ￿Spon￿1ble lor thc other intorm&¢ion. The ()ther information compri8￿ the informalioft iftclud¢d
in thc Rewrt of the LOr￿)rat¢ Fl(Trard und GTOUP AL¥oun¢s other thon the acLI)unts and our auditur's rcport thereon. Our
opinion on the accounts df)es nol Cover the othcr information and wc do not exprc&s any fom) of assuranc¢ ronclusion
thcTCOn.
In ¢onn¢¢lion with our audii of Ihc ac¢oun(s, our resFrfTrn5ibility is kn read the oth¢r information and, in doing so, wnsider
ether (hc other informaiion is maleridlly inconsL5t¢nt with Ihc BGrounis ur our knowlcdBc nbtaincd in ihe audit or
oth¢rwise appcars (o bc matcriY411y misstated. If wc idenlify such material inLC)nsistcncies or appgrenl m&l¢riai
missi&tement4 wc are required to de*miine thether there 1$ a rnaterial miss¢*temenl in thc accounts or & maleriol
misstatement of thc other infoTmatioth. Tf. based on thc work we have perfom¢d. we conclude that there is a moterial
mi&8latement of this other infomiation, we ar¢ r¢quired to rq￿rt that lacL
We h&vc nothin8 to rC￿)rt in thi5 regard.
17

M4tt¢r¥ whlch we are requlred to report by exceptlon
Wc have nothing to report in K8pect of the followin8 mattcrs in rclaLion ts) which the Charitics Act 2011 rquircs us to
rwjrt t() you if, in our opinion..
• th¢ inforniHtion given in the RepDrt of the Corporate Board is inconsistent in any maierial re5peci with the accounl5'
or
sutTicienL accounting records h4ve not been kepL or
the accounts are not itt ogrecmeni wi¢h the ￿COuntIn8 rccords and returns" OT
w¢ have Dot r<￿]v￿ ull the information and cxplgn&tion8 we require for our audlL
Rtxponilbllltl¢i of¢rn$ttti
Asexplain¢d morc fully in ih¢ 8tat¢m¢nt of th¢ Corporate Board's resptsnsibiliiies in r¢l&tion ts) the ac¢ounts,thcCoryxYa*
d i% responsible for the preparation ofthe accollnis #nd for beinB y#lisfied that they Bive th Lrue and fair view, and for
Such inlcTnal control as the cor￿rate Board dctcrnlines is ncccssllry to enAble the preparation ot'aceounts that arc fyce
from material misstalernenl, whether due to fraud or crror.
In prcparin8 the accounts. the Co￿￿)rate BD8rd i8 responsible for Osse￿ing thc group's and the Combined charities. ability
lo cuntinu¢ a going con¢¢m, dI￿1031n8, #s appli¢abl¢, muLL¢rs r¢l4¢rd ts) gtrin8 con¢¢m and using the Buing ¢(bnc¢rn
b&siJ of accounting unl¢ss th¢ C()rporJte BthaNI either intends to liquidate ihe group or the wmbined thArities tsr to ceAse
operations, or has no r¢4lis¢i¢ 4lt¢rn&liv¢ bu¢ ￿ do Jo.
A￿dItOr'S ruponilbllltlu for the Aydlt of the #e¢outsts
Our objeclivcs are to obtain reasonable axsurunce aboul whether the a￿aUnts a8 a whole are free fJYJm msterial
missiaiemcnL whcthcr duc to ftaud or crror. and iSEue an auditor'5 re￿rt that includes our opinion. Rcasonable
o&surancc is & hi8h l¢v¢l ol'48surMnc¢, bul is not a 8uArant¢c thot on audit conduthd in ac¢ordanc¢ with ISA5 (UK) will
&lw&ys det¢¢t a mat¢Ti41 misst&¢¢m¢nt when it ¢xisls. MIS￿at£ments arise from fraud or ¢rror and ar¢ wnsid¢red
matcrial if. individually or in th¢ w88re8JL¢. ¢h¢y could rca8onably bc cxpc¢t¢d to influcn¢c ihc g￿noMiC d¢ci8ion5 of
ers tkken nn the b8sL5 of ihc8¢ ￿￿ount$.
Irrc8ularitics. includin8 fraud. are instances of non-¢omplian¢e wilh laws and r¢gulalii)ns. W¢ d¢8ign pr()CedUr￿ in line
with our respun$ihili¢ie8. ou¢lined olyjve, L() detect matcri&l misstatcmcnts in rcspe¢tof irrcgularities. in¢luding fraud. The
¢xknt lo which our pruL￿Ur¥S #re ￿pable vfth¢rciin8 Irregul￿l(l¢s, inrludinB Iroud is drtdilrd beluw.
Our approuch ￿ identifyin8 and w¢s5in8 ¢h¢ risks of motcrial mi591&tcm¢nt in rcspKt of irrc8ulari¢i¢& in¢ludln8 fr&ud
and nott<ompliancc with laws and rc8ulations, was ￿ folluws..
• thc ¢n8a8cm¢n¢ partner ¢n5yr¢d that th¢ ¢nga8em¢nl l¢wn ¢oll¢¢¢iv¢ly hmd ih¢ appropri#t¢ competen￿. capAbiliti¢$
Ind skills to identify or rccognisc no￿￿0mplianCe with opplicablc laws And regulations:
wc identifjed th¢ l#w$ #nd r¢gul•Lic)Ns ¥ppli¢#bl¢ ¢0 th¢ thoriti¢5 and th¢8roup through di5￿8310n3 with m4n¥g¢menl
Rnd fr()m our knowl¢d8c and cxpcricncc of the sec￿r.
we foLU5ed on Sp￿lfi¢ and regula¢ions whi¢h we ¢onsid¢red may have a dir¢¢t material ¢ffect on the ￿Count$
or (h¢ op¢ration$ of th¢ ¢harilies and the gN)up. including th¢ Charilie8 Act 2Ql I the finan¢i81 rerK>rting
rNmework rcfcrred to above. and
we underSt(￿d how the rhariti¢5 and the group ar¢ romplyiDg with thos¢ le￿1 r¢gulithry frAm¢w￿rks by makiDg
enquirie5 of rnAnag¢m¢ni and those re8Jx)nyible for le8al and compli8J)cc txoce4urt%. We corroErt)rntrd our enquiries
through our revicw of th¢ rninutes olmeetings ofthose charged with governattee.
We Assessed the susceptlbility of the charl(ies' and group's accounts io rnaterlal mlsstatrmenl. Includlng obtalrting an
under5tkmdin8 of how frdud m28ht occur. Audit procedure5 performcd by the en8a8crncnt team included..
making cnquiries of managemcnt and those Ch￿Sed with 8ovcmance to thcir knowlcd8c of &ctuBI. susperted and
all¥gvd fraud,. and
on8idcring the intCrng41 contro15 in placc to mitigate ri5k5 of fraud and non-compliancc with laws and rcgulation5.
18

'I'o addrc&8 th¢ risk of fraud throu8h mana8cmcnt bias and overrid¢ of ¢ontmls. we..
• p¢rforn)¢d analytical procedures to identify any unusual vr urtexpe¢¢ed financial relatiunships.
+ tested journal cntrics t(> identify unusual [ran￿¢¢i0n$.
• perfornied subsiantive t¢stin8 ofExprndiiur¢ including tsBtin8 th¢ authorisation thereof,. and
as5cssed wheth¥r jud8cm￿lS and ￿umptionS madc in dctcmiinin8 the accountin8 estimates wrre indicative of
potcntiai bias.
In resTM)nsC to ihe risk (>f irycgularities and non-compliance wth law5 ond regulatiorts. we dcsigned procedvreg whi¢h
included, but ww¢ not limited to..
rcadin8 thc minul¢s ot'me¢tings Ot'thos¢ chor8ed wilh 8ovcrThancc- and
enquirirtg of management g4nd tNst¢¢s as to and TMTrtential litlgation and cluims.
There Ar¢ inherent limitAtions in our oudit prf)cedures deserlbed above. The mTrre removed that law8 •nd regulations are
from finanLiul tr&nsac¢ion4 ¢h¢ le&4 likely it i5 that we would become aware of non•uJmplionce. Auditin8 Standard5 also
limit lh¢ audit pro¢¢dur¢% required to idcntify non￿{)MplianLc with Ip4WS and regulaiiom to enquiry of ih¢ trusteu and
LTrth¢r managemcnt and the inspection of rc8ulatory and Ic881 curresp)ndencc, if any.
Maierithl misslatemcnts th•t grixe due lo fraud can bc harder ts> dete￿ than th08¢ that arise frrjm error ￿ they may invvlv¢
dellber&le conCe￿Ment or ¢ollu8ion.
A further desviplion of our responsibilities fur thr audit of thc Accounts 1$ loca￿d on th¢ Finunci&l Rewrtin8 Council's
websit¢ At wwi.fTC.(TrrB.uklauditOT5respJn5ibililic5. This dcs¢ription forn13 P#rt ofuur auditor'j r¢port.
Use of our report
This report is madc xvlcly LL) the Corporate Bi)ard, as 8 trx)dy. in N¢cordan¢c wilh section l44 ofthc Ch&Tlties Act 2011
gnd with rc8ulations madc under scc(ion 154 of thE4L A¢¢. l)ur 8udit woi'k b¢en undcrtak¢n so (hai wt mlght i(&te to
(hc CoTrA)r41¢ Bi>ard, thosc matters wc r<quir¢d to stai¢ to il in 4n audsto￿5 rewrt and for i)thcr purposc. fo Ihe
fullest extent pernittcd by law, wr do not acccpt or o88ume responyibility to anyonc othcr ihan the combincd charilies
and the Corporate Bowd as a body, for our Audit work. for ihiA repor( or for the opinions we havc fr)mied.
LLf
Bu£YACOtt I,I,P
.Slalutvry Auditor
130 W(x>d 8Lreet
l.ondon
EC2V 61)1.
7 Deceimber 2022
BuuAiu¢t LLP is elL8ibl¢ ￿ act ag an auditor in tcrm5 ofy¢¢lion 1212 of ihe Companies ALI 2006
19

CORPORATION OV TRtNrrY llOUSE OF DLPTTrDRD STROND
GROUP STATEMENT OF FINANCL4L AcrJvrriEs
Ftsr tht ytxrended31 MaTth 2022
rpDratc
Trihity HOUK MariiimE Ch#ity
ChaTity 1J￿[r&In¢ltd RcsiriGtvJ Pe￿￿ent
futsd&
fundj
nds Endowmcnl
Tol•l
2021
T￿&1
2021
Nole
£000
£o(K>
£000
£000
INCOMV FROM:
D￿lIaNS and le84¢ie4
Ch4ri*bl¢idiviii¢s
12
465
Is
1,200
1.744
1.237
758
har trAdI￿#•[liV1tl11
Oth¢r 0￿*•nI
Ithv¢slrn￿ts
1.744
125
lis
359
7,5W
7,617
7.538
TOTAI. INCOME
2.J56
7,615
10,691
KXPENDITIJRE ON:
R4iiin¢
rilable iLxiviIts..
1.535
3.374
4.453
Wc]f4re
1.299
1414
1.397
3.167
Youth op￿rtUniti￿ tr4inini
14Jblic Mfety educaEiOJb
Miintsininitho fatric qnd her11￿10r
Trinity H(M
Impiirnxni of rreistsre
Rol¢i$ 4 fk#p.8¢a Piiot*8e Authotlty
Provi8Th Ot'Niuiiral AsA¢8YOn
724
1,569
1,652
io
719
io
12881
18
19
TOTAL EXPfNDITIJRE
2,386
7.240
2,293
47
11,966
10.376
NLT {IXPkNDITUIIKI I INCOMK BEFORE
INVF.STMEIYT GAtNY AND LOStIES
1301
375
11.5731
1471
1137SI
14721
lliv0￿) on Ihtrevxlu*iiDTr and
dkipwl of invc&lrnent proputi
Gainj on th¢ miluation and
d￿P￿] ofponfojio invNtmenii
16
$181
(12.4621
io
2J
813
4.430
NET IEXPF,NDITIQiEI IINCOME
15)
375
{l.5731
5,947
4,744
18.5041
OTHER RECOGNISED GAINS:
Acluarilll d¢fth¢d b•*f¢t pe*giDn Jch¢mE
2J
192
447
639
538
NET MOVEMENT IN VUNDS
117
822
{1.3731
5.947
17.9661
BALANCE AT I APR]T. 2021
10.691
1.616
257.368
171,769
279.735
BAIAPICE AT 31 MARCH 2022
10.878
1438
521
263.315
277,152
271.769
D£tsilvJ Gomparn1i￿ f￿￿T¢S in nole 29 to the accounty.
20

C.ORPORATION OF TRIIYITV Hq)11.SE OF DEFfFOAD STROND
COMBINED CTL4RJTIES' STATEMENT OF FtNAf4CIAL ACTivmLq
FOT ¢b¢ y¢Ar cNd¢d 31 M*r¢b 2022
Trinity Ho￿e Marilune Lharity
Charity Unrcqtriel￿I
RestriLled P¢TThancThl
fundi
(vnds
TDtsl
21122
Tolal
2021
funds
Ndei
£o(K)
INCOMF. FROM:
12
Cb￿l￿ble1cllVi￿
465
720
120D
1.237
OthEf Erodin8acIIV¢I*$
Z38
7,599
7.617
7,538
TOTAL INCOME
725
7,615
720
9.060
8,998
EXPENDITURE ON:
163
3.374
3JlO
3,663
4clivilic5'.
Wclf4r¢
1.299
2,484
iJsi
JJ•8
1.597
3,167
701
Youth upwrtuniiiu iTainin8
1.569
MiintllininB Eh¢ fabri¥ huitll6¢ur
Trinity Ilou
Impnim￿l uf Ir¢uurt
Rule D$ a D¢¢p 8¢1 Pil(Ka8e Authority
Pmvision of NAuIioAI ABsusori
io
114
814
711
12181
io
IB
TOTAL EXPV.NDITIIR
7240
2.293
47
10,594
9.586
NET IEXPF.NDtTIJREI I tNCOMI BEFORF.
INVF.STMENT CAINS AND LO&STr',S
1289)
375
1471
lJ341
15881
I{kn￿l on tho mxlu#ti¢ll pnd
diipoMI ot inv¢sDnthi prtycrti
tho r¢v#lwtion and
dilw1￿[ ofyxrfolio ibv¢8¢h]wtB
16
$181
112,4021
16
25
.813
838
4,430
NF.T ITr,XPENDITiIHT.I I INCOME
12641
373
5,947
{8.6201
OTHF.R HEr.f)CTNVSF.IJ GAIN&.
A¢￿￿11[ 8oin defined bGndil PVDSIW 4thn
2J
192
447
338
NF.T MOVE￿iEr1T IN FtTND$
172)
822
5.947
5,124
18.0821
BALANCF. AT I APRtL 2021
10.074
2,094
257,368
271.152
279.234
BAIANCE AT JI MAKCII 2022
10,(K>2
2,438
521
Z63,315
276276
271,152
Dclailrd Gomp4YAtiv¢ tiRures we digcloscd m rtotE29 ¢v th¢ 4¢¢oun¢s.
21

CORTORATION OF TRINrrY HOUSE OF DErrFORD STROND
BALANCE SHEETS
•t 31 Maveb 2022
Gr￿p Conthintd
oup Combin
Charitics
2022
2022
90
2021
£000
2021
£0
Nt*eJ
FIXED ASSETS
Tangible fixed
IMvesthLents
ij
11.162
263J71
174,733
10.635
263.571
274,206
11.290
258,343
269.633
10.728
258.343
269.071
CURRENf ASSETS
Stocks
27
30
1,125
2.908
D¢btorn
C4StL at and on dep)sit
17
1.738
1.289
2J72
1174
3,320
4318
J.OJ4
4,063
CURRENf LIABJLITIES
Anjounts r￿lIng within one yeor
18
12J42)
11.777>
12.0221
{1.4341
Nrr CUlUlE1￿ ASSETS
Jh76
1.277
2.041
1.886
NON￿URRENT LIABILITIES
Amouttts failin8 du¢ 4tleT moro thun one ye
IJ
Iso)
ET A￿￿T8 KXCLUDING pgN810N ASSET
276,359
27W3
271,574
270,957
Defi￿d b￿elli penlion 408¢t
25
79J
793
195
195
NET ASSETS IIYCLiIDING PENSION ASSET
277,152
276.276
271,769
271.152
FUNDS
Corpor•d¢ Charlty
Jn¢omefynds.
De$i8ttated
Othtt unrc5tsidcd flJnd8
Peniloll It￿rYt
ReAtriCted Iljn
19
9,263
459
220
60
9.263
459
220
60
9.363
023
28
60
9,363
623
21
211
IW2
10.074
IQ074
Trl•lty Iloui• M•rfllm¢ Chltrlty
tkBi8na*d funds
Otherunrnsthctrd
Pffisiott r£￿Er¥C
11¢5tri¢tsd fjjndi
677
1,188
573
521
677
1,188
573
521
677
772
167
2,094
3.71Q
677
772
167
2.094
3.710
22
2.959
2,959
P¢mwi¢ntendowt)Ent fimds
33
263J15
26J,315
7.368
257.368
266374
264274
261.078
261.07B
NowknTltsblt Tr*dlni Fut
24
176
617
TUfAL FIINDS
277.152
27&276
271.769
271.152
Arwved th¢ Corporate Board on 29 November 2022 atLd si8￿d ott its bth•lfby
J(kn fv4a-d-
Captain 18n MeN￿ght CVO
DEputy Ma51¢r and ChairofTnwtees

CORPORATION OF TRIPIITY HOUSE OF DEvfFORD STROND
GROUP STATEMENf OF CASH FLOWS
For th¢ ye•r ended 31 Ma￿h 211Z2
21122
2021
£000
NET CASH (USED IP4VPROIryDED BY OPERATING ACTIVITIES IA
CASH FLOWS FROM INVESTIIYG ACTIVITtEs:
Payments ¢0 aCqUiTe tangiblc fixed asy*ts
Paymcnts ¢0 I￿￿>T0ve investrtKnt pwrties
Pmcccd5 fTom 5aie8 of invcslmcnt propertie$
Paymcnts to acquirc portfolio investments
pr￿¢¢￿5 from sales of PDnfolio investhieni8
741
252
1161)
11,134)
(2861
11,3461
20
(10.497)
10.797
16561
2J56
NET C￿H PROVIDED BYIWSED IN) INVESTING ACTIVITIES
1.3 12
CHANGE IN CASH AND CASH EQUJVALENTS
(iio)
11.060)
CASH AND CASH EQUIVALENTS AT I APRIL 2021
3,150
4.210
CASH AND CASH EQUIVALENTS AT 31 MARCH 2021 (B)
(AI RECONCILIATION OF NET EXPENDITURE TO
NET CASH (USED INIITROVIDED BY OPERATINC ACTIVITIL8..
2OZ2
2021
£000
1472)
Net expcnditurc for th¢ ￿ar b¢for¢ investsncnt galns and1055
AdJ￿￿tMen1& for..
Dcprccialion
Jmpairm¢nl ofireuure
Iw on di$]M>g&1 ul'fjxcd Assets
Changr in stgck5
Changc in
Change in ¢T¢diturs
FRS 102 pcnsiun cost adjusimenl
Nci cash (u*d in11pr￿idttd by operAtin8 aCILwi¢irs
IlJ75)
266
1288)
(3)
(262)
123)
237
643
41
741
252
(B) ANALYSIS OF CASH AND CASH EQUIVALEiYTS:
31 MArth
2022
31 March
2021
£0
2.908
Cash Dt bank and on dcp05it
Cash IKld on dcp>sit by estste managing Mg¢nts (not¢ 17)
C￿h hcld OTh de￿￿1t hy mana8inB aBcnts of Merchatt( Navy
SclHTrlarship S¢h¢me (note 17)
Co5h h¢ld by inveslm¢rtt manw lttotc 161
2?72
523
32
32
(C) ANALYSIS OF CHANGES IN NET DEBT:
l April flows Jl MArth
2021
2022
£000
3.150
11001
£0
Iiio)
C&%h and ￿lsh cquivalcrtts
CDf4mavitus BusitK&s ItLtsrrupliim 14)fjn
23

CORPORATION OF TIUNITY HOUSE OF DEPTFORD STROI¥D
NOTES TO THE GROUP AND COMBINED ACCOUNTS
For the year ended 31 M4rch 2022
ACCOUNTING POLICIL8
The prin¢iplll accouniing policies adopled, jud8crnents and key sour￿8 ofestim&iit)n unc¢ttsinry in the
preparation of the Accounts arc laid i)ut klow.
BAs1è ofprepar4tlon
These AcLoull¢s' have be¢ts p￿pared for the ￿ar to 31 March 2022 with CoMpxTati￿ IhfiThation p￿sCnted
roT ihe Irar ￿ 31 March 2021.
Thcsc Accounts hllve been p[cp￿d un¢k'r ihe historical cost conveniion with it¢ms rccogniscd al ¢OSt or
transaclion woluc unlcx% othcrwise sta*d in the r¢lrvant accounLirtg policics Ftlow or thc Jwt¢s th these
AccounL8.
The Awount5 h&v¢ been prcpared in accordan￿ with ALcounring Wld Reporting by Chwiti¢s'. Slatemen¢ of
Rccomrncndcd Pwticc appliLablc to charitirs PTcp8ring their accounts irt Hccordanc¢ with thc Fin￿¢141
Rewrting Standard applic&ble ift the UK and Rcpublic of IrelDnd (Charitics SURP IFRS 102)). the
Financial Reporting Standard •pplic&bie in th¢ UK 4nd Republic of Ireland {FRS 102) And ihe CTharitiC5
Act2Ql
Th¢ A¢£ounts havc bccTh pr¢pthrtd to Bivo o and faiV vicw und hthv¢ dcpDrtcd from ihc ChuTiti¢J
IA¥¢ounts Mnd Rcport51 R¢gUt￿lon5 2008 only to the exlcnt rcquir¢d to prvvide and faiw vi¢w.
lThis dcp8rtur¢ ha5 Lnvolv¢d following the Lharitics SOIU> (FRS IV2) T&thcr th4n th¢ pftvhous wiihdrnwn
version which it rcplaced.
Thc charities constiiute public beneft¢ eniities ￿ defSncd by FRS 102.
Thc AcLOUtht5 are presentcd In sterling And aTe rowdcd to the ncare51 one Ihousthd pounds.
BA•1• of Conwllditlon
The 855eLs liabiliiir5 and th¢ incomc and expe1￿1¢Ure of th¢ Ci>rporali￿n aA GcncThl LIgh￿)ust Auiltority for
England WRleB arc gdminist¢red by It under statutory authority and ore deali with in %pNratc uccounts.
Gro#p.'
Thr Group siatemcnt offinkncial Dctivitirs and Group balatKe stleet ronsolidate the acrounts ofthe subxidiary
undertakln88 with ttr￿ nt'thc combin¢d chariLie$.
CombinedcknrilieJ.'
In A¢cord￿¢¢ with thc Uniting Direction approved by the Ckwiiy Commi&sion on 24 MAY 2004. the wmbinEd
ch8fLlrcs' accounts dcAI with th¢ a5¥ets and liabllitics. the ithcomc and rxpenditur¢ ol'thL' Corporation of
Trinity House of Dcptford S¢rond {in its cllr￿atr caparityi E55cts ond liabilitlc5, the incom¢ and
th¢ cxtKnditurc of the Trinity Flous¢ Mmritimc Ch&rity. which 1% 841s0 undcr ihc trnS¢cc5hip of the Cowation.
As the rEstrictcd fuDd5 vf ihc CoYNff4tc Lhariiy are not ma*rial. thcir incom¢ and ex￿di1￿￿ arc not
shown SEpNrn*ly in thc 5tatem¢nl of finan¢isJl a¢tivitics but arc disclosed in note$.
Crltlcal Aefguntlng ￿￿[mIttl of JudRernent
PrepaTlltioth of the Accouttts Tequircs th¢ tru5tccs and mwagement to mth si8nifir4nt J￿eME￿t* cstim4le$.
The mor¢ 8ignifLcant 4rrAs in the afy¥ounts wher¢ thrse jud8em¢nts gnd eslimats5 have madc include..
- All1)￿tIOn ofsupport costs auos5 charithl¢ Activities
- inVe5tmcnt propcrty valua¢ion15cc nth¢ 161
p¢nsion surplus or d¢fi¢il valuation
- deprc¢i&tii)n
- recovw4bility of program￿re[ared investm¢n18

CORPORATION OF TWNVTY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP AiYD COMBINED ACCOUNTS
For the yeAr ended 31 M4r¢h 2022
AccouwfiNG POLICIES leortlnD¢d)
Ai*Mment of Going Corntern
The Tnjsitts hav¢ as¥L¥¥ed whcther th¢ use of the 80in8 conccrn assumption i8 appropriatc in prcpdring ihcse
AcLollnts. This includcs Lonsideration of thc impacl of the eontinuing cffccls of the Covid-l9 p8ndcmic on
thc grthJp'& orrtrations with a parti¢ular fiJ¢u$ on the chariLlCS' bcncticiaTIC5 and wppliers,, and on the
bhtrities, income. expenditure and rLscry¢* Th¢'l'rusl¢¢8 have ma(k ihis &sse95mcnt Ill T¢SP¢¢t ol'a
vf ut leasi one ycar from the dale of upproval ofihc* A¢counL8.
'th¢'lru5tccs olthc charitics have ¢unLludcd that thcrc arr tho mftterial unccrtaintics Telatcd to cvents or
condiliwJ% that Thay si8nificant doubt on the abilily ofih¢ C¥roup to Lonlinue as a going conccm. Th¢
Trusiees *trc ofthe i>pithiun thai the Gruup mcrnbcrs will hilVL $urricieni rcsourLL8 to mccl Ihcir liabili¢ie$ as
they fall due. The most $l8nificani areas ofjudgemcnt that affcci ikm$ in ihL aLLounts are dctailcd aknve, With
regard tsi Ihe ncxt accounlinB p¢rind. Ik ycyr ended 31 March 2023, the most $igrsifiLant arc￿ that atlcct thc
rrying value ol'th¢ u58¢ts hcld by th¢ ¢h8riliey Hrc thL level of invcstsnctst r¢¢uTn ond thi r￿rfrrnallCe ol'thc
itsv¢simenl markei¥1SLL thc'lnvcstm¥ni l?tsliLg and'PrinLipal Risks and Un￿rtaInl]es, s¢¢ii(ms ofthe Annual
RGpvrt ufthe Corp¢)rthLc Iloard tor MO￿ irtf*)tm&tionl.
During thr prior year. It￿. diTcclors tovk Hdvaniage of J (A)TunaviTUS Busin¢5s In*miptlon IA)thn ly¢e note 18).
R¢pa>ryncn¢ iTrf the LATran Lommcnced in May 2D22.
Intome R¢(oq*ltlon
InLornc L8 rccogniscd in Ihe period irb which thc chaTitIL5 hav¢ ¢ntlLl¢m¥'ni io the incomc. whcn th&t inwm
Lan mcasurcd Tcliubly and when il i.s probable thu¢ il will k ￿¢¢1Y¥d.
Grants fmm 8ovcrnm¢nl 4nd thhtr tskLnLics have bccn inlludcd &5 inGvm¢ from chwitllblc aclivitics wher
Ihcsc um4?unt to a coThlrnLI Inr Sery1￿ bui as donations W￿r￿ thc rnonry is givcn wilh 8rcdtcr frccdom ol'u*.
DunJtions arc recugniJcd wh¢n ¢h¢ Ihurities have confijThJli¢￿ ot'hoth ihc umvunt 2nd settlcmcni datr. Fur
donaiiuns pledged but nol rcttiv¢d, lh¥ wrtaunt is accrucd when thc rcccipt 15 considered probablc.
Incom¢ from Lharitablc activities cpmpriyr$ 8rontg trom government and oihcr agcn¥ieA relaline io cadet
lrninin& and annu41 contribution frpm Ih¢ &n¢rttl Li8hthouse Authurily. CiranL% wc aGLrucd for whcn
Ihc r￿￿10 1$ ¢Onyid¥'￿.d pmbablc.
Othcr tr￿ding a¢¢iviti¢'$ r¥lale lo incomc from th¢ ¢hariiics' two subsidiaric& 'frinit&s Scrviccs l*imi¢¢d and
Trinity ITou¥c Ev¢nts l.imil.d.
Invc51menl inuync ￿?T￿prIY￿s dividend5 fn)m the charili¢&' lisiLd investment yjrtfolioy and rcnl&l incom¢
from thc invcstrnent PTOP¢tIy p()rtfolio. nivid¢n&% are recogni￿￿ (￿ce the dividcnd h&% hccn (kclucd and
t￿tIrICal10n has bccn receivcd vfthe dividcnd duc. Rental incomc 15 r¢¢ogni8ed throuEhout the year a5 &Thd
wh¢n renL8 fall duc.
Exp¢nditurr R¢¢ty8nltlon
All Cxpendl¢u￿ i5 4¥ti)unted for 4Ln accruN15 basis. Ex￿ndit￿r¢ compTiSCS dirccl costs and suprmrt ¢tssts. All
expcn¥es. including SUPIMrt1 costs. arc dlliKalcd or llpwrtiiTrncd kn the appli¢ubl¢ cxpcnditurc hcadings. Th
classification hctwccn a4llViIj¢S LS as fullow%'.
The LOSt5 ofrai5ing funds include ih¢ salaTLCS. direcl c0515 ahd ov¢rhe&dx ￿sO￿lated with 8en¢rating
rental incomc from TTLnily Iluuse, Towtr Ilill. IA>ndi>n and thc lighthou￿ coltagcs which arc Ict by TTinit&8
S¢rviGEs l.imi￿4 the maint¢nanc¢ wsl vfthe investm¢nt prorKrtie% tCC5 Pald in wnnEGtion with the
manwm¥nl vfthe charili¢5' inve51mcnts llnd r¢lated 5upwIfl LU8L8.
b. The c05t5 of Gharithble &cLivilhcs comprise cxpenditurt on ih¢ chwitte￿ primary charitablc purpDS¢S QS
descrilKd in the Annual Krprjrt of (hi CorrrtTrrd¢e Board and in¢lude gm Appropriu* proportiun ul'5UPPDrt utyst5.
Coqts arc analy5cd by thc print1p￿ aLiiviiiLs olwelfare, youth opportunit1¢5 and public sulety and
du¢8tLOn. mainthining the fabric heritttgc of Trinity House. Tole a Deep S¢4 Pilvtsxe Auihurity and
provisinn of NauticAI A&4essor&
25

CORPORATIOf+l OF TRINITY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP AND COMBINED ACCOUNTS
For the y¢*r 31 Marth 2022
ACCOUNTING POLICIES ItontlDy¢d)
Grants orc ch8r8ed to the Stsl¢ftKni of fjnancial activilics when the bcncfitisry has IKCft infornJ2d orth¢
gyant and thcY¢ are no tonditiOll5 cnablc the chariLics io avoid thc cxpcndiLiJre. Where the charitic5
rctain thL discretLOrt to Avoid thc cxpcndl￿rq such 8rants are t)oted as financsal cornmitmcnts in the wlcs
to ihe a¢¢ounts. CirnJ)L8 art clqssificd &8'grants paid- annual, and grant5 paid- ¢>th¢¢.
d. 8uppurt costs Cl¥n￿LS¢ the cost of ststT¢mploycd unthr joint clmtrllcts of employrnent and admini5traiioTh
costs. "nje cor￿>T1￿ Chariiy rneels all ofth¢sc co5t5 which are subsequently all￿￿ted benvttn thr
orporate Charity Ihc'frinity Housc Mwitime Charity. Thc b&%is of apportiortm¢nl ofihcx SUp￿rt
Costs ktwccn the Corporate ChArily and thc Trinity House Maritime Charity i$ r¢vi¢wcd I￿￿vallY in lh¢
light of thc l¢v¢l of a¢¢ivity of ehGh chan.ty durinB thc Jtar.
Tan￿ble Flxed Amtti
All as￿¢3 with u c05t of OVCT £S(M) and with an ¢xptttsd uscful lifr of MOTC than orK yeur are capilalised.
FTLLhold propet1i¢& l¢as¢hold irnprovcmcnts. treasur¢8 Ind pllnl aod equipment and fixNrcs and filtlngs are
¥taied at Cost I¢y5 (kprccialion or impairn￿nt.
Depr￿LOt10n is provided at th¢ lollowing annual in order th wrik 01T¢￿h asgrt ov¢r Its c5tirnated u%ful lif¥'.
Frechold Propertie5
2Yg
Planl Jnd equipm¢ni
2J%
Fixlure5 and fittings
10-20%
IKasehold impNTrv¢m¢nts - 5V.
Nu dcprccialion is Lharged in r¢sp¢il ofthc I￿aSure5 &8 it is dcemed to be uft¢r ￿king AC¢Wlt of
thcir cxpccw'd useful lives And ￿x￿￿ted rcsiduDI valuL&
An 4nnuoJ impaimlcnt ￿vieW is pcrforn%d and an imp&imKAt thargr Is m&th whcrc rKccw.
Invcstmcnt pmpcrti¢s included in ihc accounts llt opcn mzrkct valuc and are Y¢VAlu¢d p¢riodiEally by the
cor￿a￿ Board based on pmlessionlll advlcc.
Pvrtfolio inv¢5th￿nIS ar¢ in¢lud¥d in thr ￿coUnt$ IL thcir market value at the ¢'nd ofthe fina￿1￿] period. Th¢
maTkct vlllut of fjxed I￿￿'t￿rt sc¢uri(iES rcflrcts ￿erUed interest at th¢ W¥tK¢ ¥h¢¢l datr.
ReAlised oDd unreali8ed Kains ur I0￿S on inveslmcnl Are ¢r¢dited or char8ed to the 5talement of fin4n¢ioi
iivi(i¢s itt the year in which they 0￿￿.
Progr&mm¢ r¢lat¢d invcalmcnts arc a&%cts hcld by the charities in ttd¢r to dit￿llY furthcr thc chwitable purposes
of ihe Gharitics.. any financial return obiained is nat tt primary r¢ay)n fur making thc investmcnL.
Programme relatrd invellmcnts compri.YL cnnGcssionary loNn5 to a third party intcrcyl fT¢e or at below prevttiling
JnaTkct rates and &rc initially ￿￿ogni￿d ut thc amount paid with ihc ¢￿ing Umounl adjusw.d in subscqu¢nt
)rars to reflcct repa)tytiEnt5 wjd Any accrucd inter¢sl and 1ldj￿ed for ]m￿lM￿nI, if appIl￿ble, Any impBirnLent
loss is r¢w8iii5¢d as Ex￿nditUre on chariLabl¢ activities within th¢ sta*nK'tst orrinancial octLVitic&
Stotks
Stocks Ofpubli￿lI0￿4 Ind consumabl¢s fot yrs&k are valucd at the lowcr of cost and t¢alisNblG val￿.
DEbton
tkbtors arc recogniscd at thcir settlett*nt amvunt1¢5s any prov15Lon for nutFTtcoverability. Pre￿)Ments ar¢
valucd at the amount pr¢paid.

CORPORATION OF TRINITY HOUSE OF DEPTFORD STROIYD
NOTES TO THE GROUP Af4D COMBINED ACCOUNTS
Fotr the yÈ&r tndtd 31 Mgrch 20Z2
ACCOUNTING POLICIES (¢oNtinued)
Cajh It Bank Ind H•md
Cash at bank al￿ iD hund r¢presents such ￿Counts 8T￿ in51rum¢nts thal are available ￿ dcmand or hyve A
maturity tsf less than thr¢¢ rnonihs from ihc date of acquisillOI].
Creditori and Provl•lo
L￿dItorS and provi5ion5 aTf Tewgnixxl.. where thcrc 15 aTh obliglltion u( t￿. bal8nce sheet date d5 Yd result of
pwl cvcnL wherc it is PTob&ble thal u tr4tL8fer of economic benelit will iK' rk'quired in settlemeni. an
whu¢ the amount of the oblig&tipn br ¢3tsmated reliably. Creditors an¢J provisions 8re reeognis¢d &t the
amount th¢ charity anlicipatr5 li will pay w s¢ttle the deFA.
P¢n8Son Cwt$
Th¢ ¢harrili¢y' d¢fLned benent rKnsion assets are mea8urcd using market valucs. scheme
liAbilitic$ ar¢ m¢usur¥'d usin8 the projcLILd unit m¥thod ond arc discounled llt the curTrnl rHte ol.
return a high qualily wporate bond ufequivEl¢nt trm &nd cuNency to thc liability.
If thc F￿n31th1 s¢hem¢ th$¥¢￿ ¢x¢eed the liabililics. D55¢1 15 rL'w8ni8ed on the bolance shcel to thc cx*nt
it is Tccoverable through th r¢du¢tion in fulure contributions or by rtpymenL
Any incrcasc in ihc p￿$¢￿1 wulue of the liobililics Wlthin the Schcmr eype¢*d to arlsc from ¢mplo>tC 5cyvi¢e
in th¢ period L5 Bllouled &¢mss eX￿n8¢ ¥ate8orie& on a fair and con8L51¢nt basis.
A¢lu¥ial 8ains and1055¢5 aTe includ¢d in the slatemenl orrjnancial &ctlviii¢S in uthcr rec4)8nis¢d 8ains and
losx¥ for the rKriod.
Conlribuliuns in respccl uf thc charitie5' Grvup PersonAI Pension SL'hcmc Bre reco￿LIscd its the ￿atem¢n¢ or
finanGial a¥iiviiies when thcy bccomc d￿.
Fund Structure
Unreslrlciedfyndv
Thc unrc51rict¢d lund$ hJnd8 which 4Lrc cxpcndablc ai di%retii)n ot tht CorwY&le B￿rd in
rthcrnnLf ufthc nhj¢ct5 ofihl ih8rities. InL1udcd within unrc51riclcd funds desi8nAtcd funds which are
nds set asidc uut nrunrcstrllt￿ fund.i and dcsignalcd for 8pecilic by ihc Cntrn)ratr Al)￿1.
ReJtricledfyndJ
The r¢stri¢t¥d funds con Mly k wlicd in with the d0t￿rs, explicit knns.
PÉrmuneni endowm¥nifvrd$
PcrnianLnL Lndowmcnt fuDd$ w¢ capital funds where therc L5 wwcr io ¢onv¢rt the ¢apilal into inconK and
which musl gcncrally be held in(kfinitely. Incomc Hrising on thc funds is cr¢dikd to unrestrictcd ￿nd&
Flfi8ntlal In8trumtnt8
Th¢ ch#riii¢s i)nly h#v¢ fjnancial &gscts and liobililies thiii quality as basic fjnancial in5tTumcnts. F.xr¢pt for
rtfoliu investments whikh gr¢ me&surcd at thcir f￿1r V741￿ as u¢ th¢ balance sheet dal¢, basic financial
instruments ar¢ initially wi¥¢d at their trdllb7ciiun valu¢ 4nd subs¢quenUy meLqured ai thcir sclllcrncni
value.
27

CORPORATION OF TRIf+iITY HOUSE OF DEPTFORD sfROND
NOTES TO THE GROUP AND COMBINED ACCOUIYTS
For the year ended 31 Ma￿h 2022
INCOME FROM CHARITABLE ACTIVITIES:
GroDp and Comblned ChaTjtie4
Corsmte
Trinity Housc
Charity
Marilift￿ Charity
Unr¢stri¢l¢d Unrcstrict¢d ReAric*d
fund5
fund5
£ouo
Tot*1
2•22
Total
2021
£0
Wcifare
15
16
Yuuth opp)rtuniti¢s and trainin
c￿trIbutIon from Triniiy House
I,Ighihouy¢ S¢rvic¢
Othcr
Total 2022
720
r£0
768
320
320
317
145
145
136
465
720
1300
1.237
Total 2021
453
16
768
1.237
INCOME FROM OTHER TRADIIYG ACTIVITIES:
2022
£000
2021
£0
Croup:
L£ttin8 offvn¢lion rooms by Trinity Ilouse Ev¢n¢s Limit¢d
l.ettin8 ofii8hthousc coit4cs by Trin1￿ Servic¢8 l.imited
176
751
1,744
758
Comblned Chirltle•:
Income from frlnlty Housc F.vcnts Limit¢d'.
Cr)rputD* Charlty manBgemenl ¢hvge
211
211
The &lK)ve Lombi￿d Charitiks, lThcomc for thc ￿orS ended 31 March 2022 and 31 Marth 2021 r¢lakd
to Corpurate Chlrity utw¢8lrithd fimds.
OTHER OPERATING INCOME
21122
2021
Group:
Other operatiTh8 in¢ome (Trinity Houge F.vcnts Limitcd)
Othcr opcratin8 Income (Trinits5 Scrvicr& Limitcd)
29
57
302
125
359
In¢ludcd within thc above Qth¢rop¢ratiftg inromE Coronavirus Job Retention Scheme and t￿¢41 R¢￿tl¢tiO05
SuppDrt grants Tcceived during the perii>d by Trinity IIou5c Events Limitcd t¢rta]ling £29,000 {2021.. £39,0￿)
nd frinitas S¢r¥irc$ Limitrd £96,000 (2021.. £302.0￿1.

CORPORA TION OF TIUIYITY HOUSE OF DEPTFORD STROM)
NOTES TO THE GROUP AND COMBINED ACCOUNTS
For the year ended 31 M%￿h 2022
INCOME FROM INVESTMENTS:
Groyp and Combined charl￿¢8
Trinity Hou
Lharity
Maritim¢ Charity
Unre5triLted UttrestriLtrd RestriLled
rwids
fi]nd5
rwids
non
£iJ
Total
Z1121
2021
£wJo
£000
Investrncnl PTOP¢rtles
Portfolio inve8iments
Bank inier¢Jt and finAn¢e incom¢
7.342
253
7J42
271
7,280
255
TO1￿ 2022
18
Total 2021
27
7.510
7.53
EXPENDITURE ON RAISING FUNDS:
Grnup Ind Comblned Ch%rilies
CorpoThtc
Ttihiry House
Charity
MBrilime Charity
[Jr￿StrIctCd Unrcstrictcd Endi)wmen¢
tijnds
lunds
tunds
£000
£D
£OOtJ
Totsl
2022
Tulal
2021
£000
Letting ofiunction room$
Mana8cmLnt ofinvestmcnt &w¢$'.
Esta* munllBers' fcc5
LK8aJ and oth¢r adminlslralion fees
Inv¢5tmcni mon88eYs' fces
Mllintcn￿cr of invesLm¢nt ￿tt5..
Repair%. maintcnante hnd rcfurbishment
ofcstates
163
163
212
526
526
503
208
2•8
466
1,911
729
1.947
526
sUp￿rt wsts
n9
Combined Charltlei
163
3.374
3J40
3.663
t£ttin8 of11Rhth￿%C w¢lug¢s
L*lling of functiun rwms
1,363
iJ63
765
25
Crowp
1.535
3.374
4,912
4.453
rotsl 2021- Combined chariiics
212
3,442
3.663
Tot&1 2021- Grwp
1.002
3,442
4.453
29

CORPORATION OF TRVNTfY JlOllSF. OF DEvfFORD STROND
NOTES TO THE GROiTr AND C.OMHINED ACCOuP￿s
For Ik¢ yur ¢ndtd 31 M•rt& 2•22
7. EXPEf4DITUIIE ONCHARITABLE ACTIVITIES:
WELFARF
Grolp and CombSne41 ChiTllk¥
poraie
Trujily Huuse
Charity
Mariiimc ChaTiIy
UnrBstri£l¢d U￿￿tricted Endowncnt
runds
fvnd8
£000
334
526
Totwl
2022
Total
2021
£000
378
526
MaffttcnBn¢¢ upkeep of the Trinity Hom
Granty paid- annuBJ
Orants paid- designated
arants paid- thhtr
Support coBt$
1022
418
188
251
196
251
314
254
Tordl 2021
44
rhingthe yemr. wclf&TQ 8r•nls totalling £722,(X)O werr 4ward¢d to (rther ch￿l(les. organiJ4iohs 4nd individuals. ofthe 8rAnts
annu81 sT￿ts 8muurLtrd 10 £526,000 And 8f*ht& •mounl¢d to L196.000..
£000
The ShipwT¢cked Meriners, Society
Royd Alfred SLdfarers %o¢iety
Nautilus Welfare Fund
SailorB' childr￿,& Socitty
Th¢ Fishernien'8 Mi88LOTh
101 Towardi thcLT off 4nd regul￿ y4nis (o ben¢ficitrie&.
92 TOW￿￿& th¢ wJt of c￿e lo their residet￿.
77 Tow￿dI tho iupport oftered 10 residents 8ttd th¢ AdmirNI Nurse.
63 Towjrth the Brants awarded directly lo fJmilie&
58 Towar￿ thclr curL' tojis athd to ￿rtd¢rpIn th¢ir UK wrydc
outreach prw8mmt.
45 Towards thc yanls award￿ diTcrily lo f4milie8.
37 Tuw4rth tht ¢￿( Ofmwm¢non￿ cfj ihc homes ond the pcnsion3.
34 'rOwar￿ the ￿an¢S aW0￿d directly lo fwnilie8.
10 L(¥ntribu¢ivn ¢owaTd8 ¢Wts.
9 Towards thc c051 of providin8 their mixed rehabilitaiioh S￿1¢¢.
NA￿] Childr¢n'J Thllrity
Tync Marincrs. Ilcnevolenl Tr￿11￿110￿
Royal Liv¢rpJol Seamcn's Oryhart Institution
M•JitLm¢ Ctwities Group
C&TC for Veieran8
TO1￿ PDid. annual
526
Cvmbat Stru&
MaTiiime Chari¢i¢i Gruup
16 Tow￿& mental heBJih supp(Kt seafarin8 veler4ns.
15 (3runi for hire of Trithiiy Housc for th¢ MCG Conf¢￿¢¢.
lj TowBrds the UK ChEplainGy Scryi￿.
15 Tow¥rd% the lop up home fe¢s for two
Mcrchanl NaTry Rcsi¢Jenig.
10 Towardj the South Cts￿t Chaplaincy seNicc
10 Towards ¢OT¢ CO818 & Tilbwy Se&farctN thIT¢.
10 To provide profes8￿t￿ dini£￿ ¥uptyvisioTh to the helplinE tearrt.
10 Towards the CoordinBtor for the Plyrnouth
C(mmunity W4vL* S¢rvi¢¢.
10 TowaTds cort Gosl¥.
10 Towsrd5 core rA7SIJ.
10 Toword8 core costs at Bristol 8e&f4w5 CL￿¢.
65 Various welfare 8r8nts. lesg thatt £10,000.
196
Brought(xJ Ilw
(hKen Victoria Seam¢h'$ R¢&t
JSWAN
Dame AgrKs welt￿,$ ROY￿ Chan'iy
¢lixslowe Seaf8rcrs Ccntrc
Immingham S£afaTCts' Lcntr
Port ofBristol S¢4fu¢r6 Cffltre
Other welf4Te Brants
Total piid. dh¢r
30

CORPORATION Ob TRINIT'Y HOUSb. OF DF.VfFQRD STROP4D
NOTES TO THE GROUP AND COMBINED ACC.OUNTS
For th¢ y¢¥r endzd 31 M&r¢h 2•22
EXPENDITURE ON elL4￿TABLE AcfiviTIES:
YoirTH OPPORTUNTTIF.S APID TRAJNVNG
Grnmp and Comblned C.h*rillu
TTinity Hous¢
Maritime Charity
Unrestricted Restri￿¢d
funds
runds
£000
£(￿)0
1.606
720
243
TTrtal
Total
2•22
2021
£ot
2J26
247
£o(H)
1020
18
257
459
413
Me￿han1 Na￿ SchDlarship Sch¢mo
fTr&nts pMid- AnrtU81
Grants paid- designated
tirant8 paid- oiher
Supwrt W5t5
Tut¥1 2022
226
409
226
409
724
Totnl 2021
786
3.167
Dllrin8 Ihc yiAr* youth opportuMillLS And irdinins 8TBnts ty¢allitL8 £473.000 ￿re 4wardcd kn othcr Lharitles. ur8&ni￿li0Th% and
ityjividuals. Of the 8rani8 paid, annual aran15 41noiinied to £247,(100 and ￿her amounted 10 £226,0(M)..
£000
MAr¢nL, 80¢iety & 8ea L&dcts
I 12 l•or within M8SCs Prcmises Fund tor UTgcni repwrs
d UP¥T4des to Uniis and ihe On The Wllter pro￿1#MM¢.
47 Towat(J¥ the cost of Ihcir sail trainin8 pru8rdmrn¢.
38 Toward¥ the ¢￿t of4 5&ff memtK'v in Ihc M4rltirnc &pt.
25 Towards lh¢ ctsxi i)fcdu&rtiin8 and cnK4in8 Wth
navi8Mli(yn profcssiunali wwld¥rydc.
25 For Sail Training Rur6ari¢J.
'rNII Shiw Youlh Trust
Iwttdon Nautical S¢hool
IAI.A. AISM
ASTO- A¥so¢iailw ofsail TrJinln8 Or8ani¥*iion
Tolal grants psid- 4￿ll￿1
247
RYA
Cowr5 1 nierprise Lolle81
Pthrt¥mouih Sail TraiThinB Tru
UWC Atlanlic Colleg¢
Th¢ 8eafarcr5' Ch8rity
The MaTinc Society
45 finr ihc'l rinity Il•usc Ya¢htma5t¢r S¢holayship.
25 Towards their M￿111￿¢ Fulurcs Pr(>8ramm¢.
24 To supwn 30 young p¢ffjJle throumh Ih¢ir pro8rammc.
24 TowATds Ik. Nauli£RI Ixthship l.-xpetlence.
10 Towryrds thc Marine l--ngin¢ering Fath￿Y Pw8ramm¢.
10 Towllr(￿ the Covid.19 R¢dundwL¢y ond
Reir&inin8 FlurAary.
10 TThwgrds the Trinity House SuperyaGht Cadclship.
78 Vwiou$ yollth wportunilies & IraiDing 8rMnt5.
less tknn £lO.OIM).
UKSA
Otheryo￿h oppnrtuniiies & trninin8 8rants
Tolal gr4￿t￿ paid. other
226
31

CORPORATION OF TRINII'Y HOUSE OF DErfFORD STROND
NOTF.S TO THE GROUP AND COMBINED ACCOUNTS
For ¢b¢ ytgr ended 31 Marth 2022
EXPENDITURE ON CHARrrABLE ACTIVITIES..
PUBLIC SAVETY AND F.DUCATION
GMUP and C•mblned C&ArlLI
Trinity House
MaTitimc ChaTity
Unrcalriclrd Restricted
funds
futwjs
£000
TotAI
21122
Tota]
2021
£000
1,569
THMCll)n" grani8
Grlnls paid- annual
Gr￿¢3 paid- thJiRnatcd
Grants p￿id- other
Support costs
Total 2022
lJ69
36
36
38
53
30
29
29
83
701
Total 2021
580
701
During th¢ ycaT. public Sllfcty and education 8rants totalling £54.(N)O vKre Bw&rdcd to othBtchthile4 OTKlltiiJatlons
individ￿10. Vf ih¢ grants paid. aru)uAI grants anjountcd lo £30.¢￿ other grant8 8mounted to £18.000..
CJIIRP. confL(knItLal rewung for aviwi¢m & mariii
19 Towarth the ￿81 ot'providin8 tholr
th¢ir ¢onfith¢ial r¢rrt)rtin8 8y$i¢m.
17 Towards the eost of deliveNnB
th¢ir prugrarnmc ufak(iviLii&
Rvyal It￿1￿1& ofNavi841iott
Totsi yan¢s paid. attnual
36
Otheryouih ￿b]I¢ & Mf¢ty 8T￿¢•
18 Vorious public Safety & educ￿10n Kran
s than £lO.WO.
Tulal yahts pRid- other
r)urin# thc yew, th¢ followihB granls ¥￿TE mlld¢ from the TENcmrr rund..
£000
R￿sPA
J68 T1￿￿d& the costof thc Nationlll Wa*r
Safely Fornm'8 Re8pe¢t the Water Compai8n
and the WATJ) datobgse.
321 Tow8Jds thc ¢osl of cold wthr 5ho¢k
Ir4inin8 ¢v¢n¢s and ¢h¢ Homo *nd Dry
rishinB Safety campRi8n.
105 Ttswards the tOSl of their strateBiC pmBr8mme.
sp¢¢ili¢ally in the #reas rs)¢￿41n8 on wAtEr safety 8nd
prcvcntimi and Closer Hli8nm¢nt wlh HMCO.
100 Towwrd5 th¢ ¢05¢of a n&tion41 safety ¢Nmpai8n.
100 T0￿rdS theircore costs to extend the project to 2024.
88 Enh&n¢cmcnts ID thcir summet medL& BRfBty Carn￿1￿￿.
72 Towvrds the cost of 8 Codet Well￿1￿8 app.
70 Towurds extensiott of the fLshin8 safety proje¢t to 2023.
50 TowHrd$ their Swnm¢r B¢￿￿ S•f¢ty Cllmp4ign.
40 the SellFit m¢ntal health pro$Trmme
35 Towvrds a fishin8 safety project with lh¢ Sufety Foldet.
20 Tow4Tds #SARYUUOK? MeThthl h¢alLl> awar¥ness
Natiott￿ C&io¢wYt¢h Inititulion
Bdtish Marine
Fishlng Animat¢ur
RYA
Tapiit Ltd
Star￿1 corn￿]1 Training
RNI.I
Fi¥h¢rnKn's Mission
'Il* SEafarcrs' Charity
Vnt¢rnation*l Maritime RescuE FcdEr&tion
32

CORPORATION OF TRINITY HOUSE OF DEPTFORD STROI
NOTES TO THE GROUP AND COMBINED ACCOUNTS
For the year ended 31 Mgreh 2022
10. EXPENDITURE ON CHARITABLE ACTIVITIES:
MAINTAIiYING THE FABRIC AND HERITAGE OF TRINITY HOUS
Gmup and Comblned CTh Aritiei
Total
2022
Total
2021
£000
SuLff and pension costs
Repairs, reDLwa15 und planned mainknats¢e
l.ighL h¥at. insurance and othcr Tunning costs
DtprcLi&lidn
è*upw)rt costs
270
142
251
154
130
130
107
128
120
814
719
Revers&l of ]mr￿l￿n¢￿t ot'tr¢oSu￿ {s¢c bElowl
288
'lThc impwsmrnt of u Irusur¢ in the year Lnd¢d 31 March 2020 rcIA￿d io th¢ vilualivn ship mod¢l. This
vujuation was rcvicwcd 4Lnd adius*d in th¥. pri(Trr )rar which crea*d ll'6Tedit' to th¢ ¢xp¢ndiiur¢ i#1¥80ry of
£288,0L¥I.
Th¢ expenditure for thc )rars endcd 31 2022 and 31 Mar¢h 2021 T¢lated to Corroratc CTharity
nre.4trictrd fund5.
11. EXPENDITURE ON CHARITABLE ACTIVITIES:
ROLE AS A DEEP SEA PILOTAGE AUTHORITY AND PROVtSlON OF NAUTICAL ASSESSORS
Cxpendiiure on Ihcsc catcBoric5 Ln thc two yearx ended 31 MArLh 2022 and 31 March 2021 ITQrn CoTporN
Charily UnreMrJ￿ed tunds.
12. ANALYSIS OF SUPPORT COSTS
otllie
Staff
£ooD
365
125
205
S¢rvi¢e
blaff
£000
Admin
C051s
Tol•l
2022
'rotal
2021
£ODO
Raising funds
Wclfare
Youth upponuniii¢g #nd ifyinin
PubliL 5&tcty and cdu£Atiun
Mainiaining the Ipbrir ond h¢riwg¢ of
Trinity Houyc
46
318
729
251
409
29
526
254
413
30
16
26
1711
13
12
120
107
29
90
619
.330
Support ¢vsls inilude govenwicc costs of £12s,￿oI2021.. £194.0001. which include audil0rf5 rernuncraliun or
£46.0¢)01202I.. £51.0001 for audit 8etVlCC5 and £6,00012021.. £3.0001 for non.audit servLCCS. In addition to thc fc¢$
no(cd above. audii fees of£23.(W {202I.. £22,LWI and other IKS paid to auditor5 of £2,(K)012U2I.. £3,000) in
relationto Trinil&% Services Limit¢d and Trinity HOLLY Events Lirnited ar¢ included in ¢xr¢ndilw¥ wi r8isin8 fund5.
33

CORPORATION OF TRtNrfY HOUSE OF DEPTFORD STROND
NOT&S TO TIIF. GROUP AND COMBINED ACCOUNTh
For th¢ year￿d¢d 31 mS￿h 2022
11 STAFF COSTS AND IIiUSTEFS' REMUNERATION
2022
£000
2021
Jo
Wa8es und saiarirs
Social security costs
Other ￿nsiOn costs. dtfmed k￿rit %hcm
- sroup FrsotsRi Twion plan
981
107
64
67
130
790
90
55
32
QthcT Staff co$ls
9 1086
The llverage numhcrof staff durin8 thc wNs 21 (2021.. 24).
Th¢ numky oftmployccs whosc Lmolumenis. excludin¥ pcnsion contribution5 and empioycrfs naiÉonal
j11$UT￿r¢ wntrilMJtionA, but including ￿XIble benetils. ftll within ihc following ran8CS'.
21n2
2021
£1 10,000 - £119,999
£100.000 - £109,999
£70.0110 - £79,419y
£60.0¢￿ - £69,999
Of the hi8hw p4id ¢mplOy￿S, cunlribulion5 were m4d¢ ¢0 th¢ d¢fined b¢n¢fit fur 2 {2021.. 21 Individu￿$.
The emoluments ofih¢ high¢$l paid individual includeg pay in ILLU uf p¢n8ion ¢Otttribuiion8.
Tr total cost of emplLiyinB key m￿￿8¢m¢￿￿ ¢ompri$in8 the Secrthryto the CO￿Or&I10n. thc Finantt arml
Comm¢rtial l)ir¢clor (whi) ii also a Tkputy S¢Grctary ￿ th¢ CoryM)ralion), Ihc Hcad of Events and the TTead of
LThuritable (livin¥. inLludin8 empkJyel8 ￿nsi(7n ￿ntrIb￿l￿n$ ￿d#￿phI)rr,S nal10n￿ insUr￿¢r contributions
wos £43Q,00012021.. £426.LIOO).
'rravel and 5ub5lst¢n￿ ¢xp¢Th8¢8 to¢alling £l.00012021.. £3.000) wcrc incuryed by 512021: 5) members uf
th¢ Corporate lknard in the y4ar.
Fees and Cxp￿sE3 pBid ¢0 of the CorFKJfXte Board by ¢h¢ ¢hariti¢s amount¢d 10 £65,IKIO
12021.. £73,(KM)) in thc Th¢5¢ comrKi8ed..
{al bees And ExpensL¥ uf £47,00012021.. £46,L)00) paid to Captain in hi$ ¢4pa¢ity ￿ th¢ T)Ire¢ttbr of
Maritime training. Thcxc are PUT5uanl to Clau5c 44131 of the Trinity House M¥ilimc Chwity
Charity 8chtme of 7 August 1995.
(b) AsBislance to the Admlrplty Court lrt thc proviqion of Nautical A88eUDrs. Fcc5 Bre 5Et by thE Practicc Division
of the Re8istrorofcivil App¢AIs and th¢ Admiraliy Rc8Lsler and orc payablc hy thE paty setting an ¥¢ion.
The Corporate Chuity's admini8trativ¢ cos15 in Ihesc aTrAngemcnts are mei from thc fcc¥ rcimhurs¢d. Total fK5
and e￿nge5 of£8.00012¢J21.. £19.0001 w¢rb pllid in Ihe ycar &8 follows.. Gobbi £l.IM)012021. £Thill,
CDptain Barker £3.00012021.. £nll). Comrnodore Walworth £4.1MKI (2021.. £6.000). C4ptgin HBr¢ £nil
12021.. £5.IM)O). C￿ain HO￿ £nil (2021.. £6.0(H)l. Captsin PRlrw £nil (2021.. £2.(M)01.
Ic) Ftrs and ¢XP¢Tb8C8 of£6.00012021.. £8,000) and £4.000 (2021.. £nil) werc paid to Captain Gobbi and Captain
Barknr T¢5p¢dively in their capaLity as Examiner of t)eep Se&Pilotsg¢ pursuant lo an Ordv madc by thL Charity
Commi85ion da*d 10 Janu8ry 2007.
A total premium of£1,0￿(202l.. £3,000) wa5 ￿ld in the Jrar to pyuvide the tNs*es with it)demnity insurutJ¢.
14 TAXATION
The Lharitics aTe excmpt fTi>m Cotporation Tax and Inwme on thcir charilablc activities by virtue oftheir staiu¥
5 rGgisl¢r¢d charilics. Tritiiius Setvircs 1.imitcd gnd'frinity Hous¢ V.vcn¢s LimitL'd are Subject ￿ Corwration T
on ￿Yt￿¥￿blc profits ￿lSIng.

CORPORATION OF TRINtTV HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP AND COMBINED ACCOUIYTS
For the year ended 31 M¥reh 2022
I& TANGIBLE F￿D ASSETS
GROUP
I*9se￿Id
FT¢c￿ld Pro￿rtieS
Trinity
Ilom¢4
Walmer
£(4)0
Tr￿￿￿8
Plani and
equipmenL
rixtures and
fittings
£000
TOTAL
'rTinity
£000
£0
£0
COST
At I AF*iI 2021
Additions in ycar
DI$￿sa]S in ycar
A¢ J l MaNh 2U22
6.261
2.175
4.073
21
674
Y8
171
765
13,867
39
191
714
{16)
6.264
4.094
.pRE.c￿
Al l ApMI 2U21
Charge lor lh¢ year
Di5W5uls in ￿ar
At 31 Mllrch 2022
276
56
1.083
122
435
44
287
496
66
2J77
(8)
324
17)
555
{15)
2.850
479
287
At 31 Mttrih 2022
390
5.059
3.807
210
At 31 M8J¢h 2021
40¥
5.178
1,740
3,7B6
178
11,290
COMBINED CHARITIES
Frcchvld prorKrtk$
Trinlty
lornL
W￿fflLr
rre&wres
Plant and
cquipmcnt,
rixtUTes and
TOTAL
'rrinity
Ilous¢
£ooD
£000
£000
A¢ l April 2021
Addi¢iuns in ytBr
At 31 Marrh 2022
6.261
2,175
4,073
21
246
79
J2
325 ￿58
12.755
103
DEPRF.CI
At l April 2U21
Chor8c forthc
At 31 mll￿h 2022
I.OR3
122
43S
287
222
2,027
196
44
30
1.205
479
287
252
2323
NET
Ai 31 Marth 2022
1,696
3007
73
I￿635
At31 Marth2021
5,178
1.740
3,786
24
10,72R
35

CORPOIL4TION OF TRINrrY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP AND COMBINED ACCOUNTS
For the year ended 31 Mirth 2022
16. FtXED ASSET IIYVESTMENTS
2022
£000
2021
£(K)o
Invc5tment pmpcrties {￿e Ixlow)
Porttolio investm¢nts {see bclowl
C&qh held by inve.qtmen( rnanagcrs
247302
14087
32
263J21
250
240.913
17,148
32
258.093
250
ProgrW￿e￿rcIatCd inv¢5¢m¢nty {s¢¢ below)
26J
71 258 343
Freehold
Portfollo
weitfflent Invutrn¢Dti
propertl
£0
M￿k¢1 value at 31 March 2021
240.913
1261
17,149
S441c oficaxhold inier¢
Di5W)5al3
Capital improv¢m¢nts
Acquisttions ai ca81
Gains ￿ r¢valuations and dispos&ls
Markcl vdue al 31 M&rGh 2022
(2J56)
1,134
656
838
5,181
247 1112
Hi8tori¢al ¢0
12,692
13018
The mthrkci value of thc freehold Inve￿mENt propBrtIcs is b￿cd on valuations ¢wri¢d out by Cluttons Sur¥eyJrs
and Sllvlll4 Chartercd SuTheyor& ￿ 31 March 2022.
The portfolio inveslmcn¢s are invested using IJK authoriucd instituti￿￿1 pookd funds. Thrs¢ funds ar¢
highly divcrsiflcd a¢ro55 a wid¢ rAn8e of uthd¢rlying Invc5tmcnts and compriK the fo]lowing makrial
holdings..
S¢curity
Holdin8
Total P¢r¢¢ntdg¢
m•rk¢t valu¢
oftotal
£OIKI mtht valuc
BLACKROCK ISIIRS DV WLD IDX (IF) D DS CIBP Hf)G
BJALKR()CK ISHR IJK CRDT RD IDX(IEI fNS GBP DS
BtALKROCK ISIIRS IDX LK GI.T IDX FD (UK) X INC
BIACKROCK ISHARf.S EM IDX FD (IE) FLX DS GBP
7.692.022
2.941236
1,323.047
1.060.733
10.792
2,767
67.1%
17.2¥0
8.8%
16.087
The progr8mnw.rela*d inv¢stmcnts comprisc loans to maritimE chNtyti¢& Tr loans are rcp&yable after mor¢
than on¢ y¢v.
36

CORPORATION OF TIUNtTY HOUSE OV DEPTFORD STROND
NOTES TO THE GROUP AND COMBINED ACCOUNTS
For th¥ ytar tnded 31 Mareh 2022
17. DEBTORS
Due Wiihln One Ye•r:
Gmup
2022
£oofy
ChArltles
2022
Jo
GrrAJp
2021
£000
ChaTitLeS
2021
£￿0
Triprity Vllluge..
Rcnl wr¢ars IEs$ provision for doubtful debts
mon7￿ h¢ld by [nall￿l￿g ￿￿1$
176
176
523
137
97
137
523
97
Qiher.
'rradc dcbtOTS
22
Monics hcld by managing agcnt of thc Merchant Navy
Scholarship Schcmc
Amount owed by TTinily House Events Lirnlted
Pr¢pa>Thents SLnd ¥¥LruLd It￿0M
Suiiml K'Guriry and other ￿¢$
Oth¢r debws
113
113
79
120
602
744
T19
677
58
62
14
17
17
1,813
1,738
1,122
18. CREDITOK
F*lllng Due Withln On• Y•Ar:
Group
2022
ChAriti
2OZ2
£ODO
Gr(wp
2021
£000
ChAritics
2021
£(4M)
F.Xkxns¢ ¢rL.di¢ws
Rents in 4dv8nce. Triniiy Villa8e
Del¢rn¢d in¢um¢
SLTrcial Sclurity dnd other tw¢$
nther ¢reditors
A¢L'Nal$ - Trinlty Village
. uthcr
169
152
25U
197
56
512
56
286
226
238
57
220
140
54
588
307
873
346
588
307
346
Amowits owed tr) Trinity HOU￿ Lighthouse knicc
owcd io Trinity Event4 Limited
CorTrnavinL% Bu5incss Int¢miption Loan
36
50
2J42
2,022
1.434
Amollnt FAllln8 Dlle After Morn Than One Year:
Cyoup
2022
ChAritI
2022
Gmup
2021
£000
Charities
2021
£0
Coyonavirus Busin￿8 Intcmiption tA)an
100
Ino
On 3 Frbruary 2021, TEIEL ¢ntrrcd into & LoronAvIn￿ Bu$ine8s Int¢rnJption lJ)th faGility for £IOD.O(KI.
Thc lacility is for a M￿lMuM term of 3 )r3rs and is un￿QU￿d. li is ￿p￿blE in ¢qual 14uartcrly inS￿lm¢MtS
commencing 15 month5 frorn thc datc of drawdown (18 february 2021}. but may be Tepaid wli¢r.
'rhe tern￿ of the tacility ar¢ that illtcrt5t is pay4blc by thc rompany for thc firrt yEar. Aftcr onc ￿ar, iknterest is
r￿ed at 2.33% per qnnum. The rompanydid not ithGut any fcc5 in wDJ¢GtLOTI Wlth thc inc¢pti¢Jn of ihc r￿lItty.
37

CORPORAIION OF TRINITY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP AND COMBINED ACCOUNTS
For theyeAr ended 31 M•reh 2022
19. CORPORATE CHARTfY. DESIGNATED FUNIXS
Balattcc at
N¢w
l April 2021 des18n￿l0￿5
Utilised I
BAl8nc¢ At
released 31 MAr 2022
£0
House Dc5ignAted Fund
Fixed A￿L8 Fw
444
8.919
444
8,819
28
11281
Ho¥Je De$l8￿led
Thi5 tljnd is d¢s1￿1¢d by th¢ Corwrate B09yd for mEintainirtg thc fabri¢ aThJ heTithBe of ih¢ Grth i.'frinity Ilouse
buildrng.
FixedAsJelK Fwrd
This fvnd ttw¢senls th¢ ncl b(N)k vAJu¢ ofthe tanRible fixcd &8sets ¢xGludinB thos¢ thai ttstricted fwid5 and li
dcsi8nat¢d As tho fill￿$ are not readily available to mee( exrKnditure.
211. CORPORATE CHARITY- RESTRICTED FUNDS
Balance at
l April 2021
£000
Incom¢ ExF*nditur¢
Bal*nc• at
31 MRr 2022
£000
£0
£(K)o
W8xd¢rt's Trinily House Relief Fund
Brethrcn'j Cov¢naftL and Gift &.krne
58
60
W￿den,1 TrI￿ltyHOU￿e RellefF¥nd
This fvnd was ¢sthblishcd to provldc discrelioiiarygrants and loan5 to cmploy¢rs of the co￿￿&t10ll of TTLnity Houxc
In circumsthn¢e9 ofw¥¢nt domcJtic rttrssily. li is r¢￿settLed by ￿t ¢urrrnl
Brethren's Covenani Gljè 3chtme fThe Fobrlc F#Trk4)
This fund was ¢siablishcd for the spccific PUTP)sr of ret￿￿1 and impmvcment offirniLure and drcor of Triniiy House.
l( is rcpres¢nkd by fLx¢d tlet Curreni asscts.

CORPORATION OF TRtNITY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP Ai¥D COMBINKD ACCOUNTS
For thc yeir ended 31 Mttrth 2022
21. TRINITY HOUSE MARITIME CHARITY- DESIGNATED FUNDS
Th¢ unrestricied tunds of thc-frinity Iluux Mthtime Lharity includ¢ th¢ following d¢$i￿ted funds whiih h*ve
b¢¢tL set aside by the Lurp)rate Board for S￿rIfiC purw8es'.
Balanc¢ at
l April 2021 dry1W￿l1unS
Utilis¢
B•l*nte At
rcle￿d 31 M*r 2022
V.xtraordinary R¢pAir Fund
Mei¢h*￿t Navy 8cholw¥hip Schcm¢
177
177
500
500
677
677
E¥lraurdiiwry Repttir Fup
lthis mrcts a rquirL'mcnl of the Trinity Trluus¢ Mariiime ChuTity'5 S¢h¢me to Lslablish and maintain & T¢￿ry
fund to provide forextrHordinary N'pairs improv¢m¢ni and rebuilding of th¢'frinity Ilomc& WAlmcr.
Tk MerLhuMI Navy ScholorJhip,Scheme
Thc opcraiion of this schcmc WLS trhnsferrcd from (h¢ Cotpor* Charity tn thc Trinity 110￿* Mariiimc Charity
in 1995. At 31 Mwch 2022, thcTL wer¢ 107 {2021.. 140) ¢ud¢ts undcr srA￿Sur$hiP for trainin¥ us tk'¥k or b.ngin¢¢r
utrieers. 'Ihc Arnuunt dcsiKnakd li) this bund repTL5ent5 bdween Ihrtt and six twiths, opcr*tsng ¢osts ot'thc
M¥rchoni Navy kholarship Schcrr*.
22. TRIIYITY HOUSE MARITIME CHARITY- RESTrICTED FUNDS
FJ&]an¢e ¥1
l April 2021
Mov¢menL in fund5
BAl•n£e al
InGom¢
Expcnditurc 31 MAr 2022
£￿0
£0
£000
Swirc 8Ghvlurship Trund
SWI￿ Yrommn Support fund
Captabn John Ilury Mcmorial Pri2e Fund
CTTants. for Mcr¢hant Navy scholar.qhip Schcmc..
Govemm¢nt fundin8
Briiish Marinc l?riiK Fwid
tkpllTth￿n1 fur Transport Fund
105
22
12
{41
18
12
720
1720)
1.909
2.094
11.S691
2.293
340
521
The SwiT¢ Schvlwship Trund was estsblished in March 2012 to assist cad¢ts urtder8uin8 training In th¢ Merchant Novy
-holarship 8chrm¢ to sludy for a bull Ilonours T)cgrce. Such &ssi5tsnce 15 awarded to ttN)5c cadets who have
demunstraL.d Exc¢p¢ivnal prtsgre￿ both academically and pr4Gli¢ally throughout (heir iraining.
Swirc YeomHn Sw>p)rt Fund was established in O¢¢uiKr 2017 rrfovidc guid￿¢¢ mcnt(>Ting io ¢adcts who
hxvc qualifjed Irom the Mcrrhant Navy SLholarship Sch¢m¢.
The Captain John Bury M¢moTial pri￿ Fund cstablish¢d lo providc awards for outstandillg achie￿ment for
¢adL'ts undergoing ¢rainin8 in Ihc M¢rchanL Navy Schnl8T5hip S¢hemc. The Fund WAS CStabli5hcd in m¢mory of the
lui¢ Captsin Bury. Eld¥r Hrother uf TTLnily Housc.
The British Marine Pri￿ Futsd w18 CStablish¢d to provide WLTLS to Glldcts under80ing training in the Merohani
Navy Scho10rship Schemc. IIK prixc is awarded to ihc cadet producing th¢ be￿ complekd tr8ininR Tecord IMM)k.
The Departs￿￿[ Cor Transport rclat¢S to fund% from (hc Dcpartm¢nt of Transpyrt in supith of safety and
¢raining rela*d matters within th¢ Charitys objects.
39

CORPORATION OFTRINITY HOUSE OF DEPTFORD snioND
IYOTES TOTHE GROUPAND COMBINED ALLX)UNTS
FDr Ibr yc¥reNded 31 M*rtlL 2022
2J. TRINITY HOUSE MAR￿lME CHARITY-PERMANENf KNIM)WMENf FUP4DS
Movcmcnl in fund
B*l*ate at
l April 2021 Fxp¢Thdiuwe
(hin¥ 31 M4r 2022
£0
Trittity Villb
Church end W¢$1 Fern￿. GoxhAI
Marlines Fo￿￿, Essex
Triruty11(ry Walmtr
250,569
3.556
1.337
1.906
25Sffj67
863
23
144)
47
2aJ
TrIMIty Ylllagt
ThF fts¢hold of thi# thtDtc. in S(yJih tondoN wuoonv¢ydtsth¢ChErity tychrilltophcr Muri¢k in 1660 Th¢ m•iniy
repTcsenied by mid¢nii*l &tyd ¢ornmcrciBI woPcrti￿ which wwtvalutd at£241,JIO,ODO*t 31 Ms￿h2O21 and portfolio ond
C41h which wcrc valutd 41 £15.10?,(hX) Und¢rlhe t£￿$ of the ev￿v¢y&rrt. iYKom¢ ¢8rn¢0 frtsm Ihix fund is RvHil4bl¢ fOr￿￿ra1
ThiA wtotceBmttoth¢Chwrity under the wll of Ciptain RDbtrt 8An&¢s dated 1720. The I￿nd kn rewientoj by D8ricullurnl
14nd. now ¢)f 546 Acres{221 hrc¢Ar¢s1, InNorth Lincolnshire and ¢Lqh Und¥ ¢ern¥ of ¢1* bequeai. InLomc eamrd frorn this
Iljnd is &vail&ble for wposvs Th¢ lirms w¢rr Yalued at£3.491.(KM) ot 31 MllT¢h 2Q22.
A*riipJes fvoMI. Kstsx
Th¢8£1lale WdB bequeathtyj (o thr Charity byC4Pt&in Rob¢rt Fijher in 1714. Th rEp￿￿￿1¢d by frE£l￿1￿ WiL'ulturlll
laTrJ now of65 7 ll¢rul26 6 h￿￿re$l Undet thc t¢r￿ orth¢ bequHI. Inwm¢ eam¢d from thii fwd is a￿ll￿bI¢ for
purpoaos. Th¢ tBrrn WAS v4lu¢d ￿ £2200.1h)O Il JI Marth2022.
Trlnity Holl￿￿. Wth¢r
TheK Homu, ￿th1¢h free￿1d rhmiiiy proprrty. btlun8 toihe CorpoT•tion fi* the residts￿ In Cwftymitywththt pruviito
0(thECh￿￿vj Khorno. Th¢y orc siiuitrd nrllr Dcal. In Krni, and prnvide Dccamrnodaiiom (orporADnXwkn4rr or wrre
Britith S¢amcn llnd MgrinNs (including MAilETA Pilo¢slahd Ihfflrdy￿Jints in ncvj The Horn¢i compri¥¢
18 s¢lf unitsol'4ccvrnmodDtion Bnd only rw¢ivrd 114 cDnlriblllion from e4Gh TcsldL￿I towdrds haoting uf
Ihe dwelliw Thi$ Jljnd 18 rqtcKnlcd In Ehe bxlAnCC ihttl by EDn8ible fjxtd 1514hd invtsimcnt pnwuty.
24. ANALVSVS OF GROUP NET ASSITS bETWEKN PUNDS
CoTwnlcChArity
Trinity Hows¢MoriiimpChHrty
Ilrffjestri¢*d R¢Str￿t*A Ilnr¢shctrd ￿￿triCt￿ Endowrnent
cFAritAblc
ruhdx
fuhd
funds Trading fw
£o(K>
£000
£￿0
£0
TotAI
2021
£wo
£0
Fulld B•l•neti at 31 1•22
4r¢ Repre￿￿ted hy..
T*)8ible fi%al
Inv¢sth1￿¢S
CurMt4$8r¢S
8.812
63
1.696
262.558
214
527
J 1,102
263J71
293
14061
220
2.056
12541
573
521
1.128
17791
115921
793
Lkfined benefil per￿10￿ *￿e1
Tot*1
9,942
2.438
521
263.315
876
277.152

CORPORATION OF TRINITY HOUSK OF DEIryFORD STROND
NOTES TO THE GROUP AND COMBINED ACCOUNTS
F•r the year ended 31 M4rckn 2022
25. PENSION COMMITMENTS
Th¢ CorKM)rauon uperatrs a d¢fined bentfjt schemc {the'Schemc) in the IJK for r¢rtain current and fomicT
¢mpioyees. This SLhcme was clused iu new memkrs on 18 July 20[￿. A dcflned wntribution scheme (group
rwtJ&l ￿nsiOn plan) wa5 CStabli5h¢d for new stalTjoiniTh8 after that datc.
Thc Lory)orak Chari(y xg the spon8oring emploirr tv ih¥ d¢firted Ixnefil sLheme. The of the Schemc ar¢
held 5CPllTatcly fwm thvs¢ of the combinLd chariti¢5.
The Goftiribuiions are d¢￿Trnin¢d on the basis of triennial vMlua(ions by an acluury usirtg the Aitained Age
t￿thod. bvllvwing the valuation a5 llt l 2020, the empluy¢r's cutT¢nl contribution r4t¢ ￿m￿l￿rd at
34.1•kn of WSiDnable pay.'fhc employees, conitibuiiort rate rem&in¢d at l.5Uh of ysitJn&hl¢ pay.
The total ¢ontyLlwtion8 for thc ycar in theK accounts were £64.000. The valugtion Showed that th
markct valuc ofthe Scheme's w&$ £8.323.UUU artd thai the onEoing funding levLI wus 10(n6.
The ￿suMptIonS whiGh h4d ihe mo&t 8iBnifiLunt etycct on thc r¢$ulis of th¢ valuation were as follows..
3.9%p.a.
3.9%p.&
3.S%p.&
2.6% p.&
RPI
Eornings lnLrc&￿s
Prc-retircmcnt di5Eount TalL'
Post-retircmcnt di%ount Tal
Flh•nclal Reportln8 S¢*nd%rd lQ2- R¢tlr•m¢nl Benellts
Th¢ following infoTh&tion hai h¢¢n calrula¢¢d lry i qualifi¢d Ind¢￿￿dent aduary fLrth¢ purpo¥¢ ofinclusion
in these 8Lcounls. li should bc crnphasiged tha¢, in #¢¢ordance wilh thc rc4uir¢rricritg vf 102, the ￿Sets
Qnd liabiliti¥$ vt'the SchLmL vajucd wiib r¢f¢r¢tKe ts) ￿nI m&rkct conditions may, th¢ff¥'for¢. vary
widcly fmm year io yi4r.
2022
2021
£000
8,16J
17,97U)
195
Markci Val￿ ofHys¢i8
DcfinLd bcnctlt ￿pIlgatiOn
Sutplus in the Schcnk- tLCt pctL5iOTh Mssri
8.323
{7.53111
793
Ihc 4ssct8 in thc Schcme w¢r¢'.
2021
2021
£000
Liahility drivcn inve￿n
.quiti
Bonds
InSu￿d ￿nsIOnS {Bnnuities)
1.699
1.7ZI
2.796
1,55Q
3,451)
2,729
2.101
23 8165
430
Tvtal market vaJu¢ ijf &ssets
41

CORPORATION OF TRINITY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP AND COMBINED ACCOiJNTS
For the yur ended 31 M4rch 21J21
PENSION COMMITMEiYfs IcontlDUtd)
The major h5sumF4ions U5cd by ihe actuary wcff:
2021
2021
Inflation- RPI
Rate of increase in salarics
Rate of increa8e for pensiotLS
D15couni rate fw liabiliti¢s
3.9%
3.9Y•
3.5Y•
3.5VD
3.2%
2.0%
2.60A
The nwrtality tables uscd arc the ￿NA basc (dbles projertcd by of birth in line with thc CMI 2020
'core" mortalily projecti1￿& with a long-wm r8t¢ a$3uThMion of 1.5% rKr onnum. 'fo give fin indi¢￿10th or
lif¥ rxprthan¢ic4 a pcrson who is CUfTently ag¢d 63 is ￿Umed to live un avera8e uniil ihc of 87 yw5
in the ease of a man and 90 ycars in the of a woman.
R¢tonclllAtlon of ¢h¢ Falr V4lu• of Plln Assets Over the V•Ar
2022
£0
2021
£￿0
Fair va]u¢ of plan assets at l Awil 2021
Jnl¢r¢sl in¢rnne on plan a&qets
RemeAsuTrrncnt- rcbjrn on plan &8sets excludin8 ffttere￿ income
Conlributions by the ¢hariti¢s
Contributions by the memixrs
Bcnefits paid (including exrKn￿}
Fair valuc ol'plan u55eL4 at 31 MurGh 2022
&165
7,thfj8
154
1.068
231
193
1263)
(3601
B.165
R¢bJrn on plan R5Eel8
354
1.222
R•¢on¢lllatlon of Deflned B•nefit ObllgAtlonJ Over the Year
2022
£000
7.970
2021
£000
7,523
r)etlned bencfit obli8ations Dl l April 2021
Current 5ervi¢¢ ¢osi
Contribv¢ioM by the mcrnbcrs
Interesi ¢xpcn5¢ on dcfincd benefii obli8Alivn
Rcm¢a5uremcnt- cffe¢t of cx￿rIEnC£ NdJustm¢nts los￿(￿1n)
RCMC￿reMCnt. ctyect of ch•thB¢s in assumptions18ainyJoss
Bcnefiis paid
tkflnrd bcnefit obligalions ot 31 Moxch 2022
158
164
1610)
{2631
163
{141)
671
(360)
7,970
Thr MovtTAent in the Stheme'i Ag•et Duriul the Year l* Made up u Folknv•:
2022
£00
195
(ios)
639
2021
£000
(4551
Nel pension 85scVlliability) &t l April 2021
Amount ￿cogniS￿d in expendiiurc
Gain rcGognis¢d in othcr r¢¢0￿1$¢d gains losscs
ContribuliotLS by the chariti¢s
Nct I￿510￿ a&*t ai 31 March 2022
538
231
793
195
The or liability ith thc Scheme and thc movements in hav¢ llllocatcd txtwecn thc two
charbtics ba￿d on thc ron(ributions paydblc in the ycar.
42

CORPORATiof4 OF TRINITY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP Af4D COMBINED ACCOUNTS
For the ye*T ended 31 Mirth 2022
25. PENSION COMMITMENTS (con¢inuedl
The tollowin¥ wnounts havr IKcn includcd in ihc 5ta*m¢M of fitwicial activitle5.'
Analyils of th• Amount ChAryed &s Expenditure
2022
2021
£oou
CutTent 8ervicc c￿1
Iniercsi income on Schcme &&qets
Its￿r¢.￿ expe1￿¢ un defined iKncfJi (>bliWioft
Totsl thAr8e to ¢xpendlturt
11081
154
{163)
105
Rem•4iurements R¢coBuli¢d In Oth•r RetoTrlxd Galn$ 4ttd I￿1
2022
2021
£D(KI
141
16711
1.06¥
538
Rcrn¢&8urement- effect ol'¢xpErirn¢e adjustmcnt5110%%118ai
R¢m¢&8urement- cffect of chan￿$ in &￿UmpI1￿ns gainlllos51
Rcm¢osurk'm¥ni- return un plon asscts in4ludi￿ interLSL inLome gwin
Total ￿'mess￿rem¢nt gllin rccogniscd in oth¢r N'¢iJKni4ed gains and Iu5S¢S
{1641
610
193
639
26. SUBSIDIARY COMPANIES
(Jl Trinltas Servictj Llmlted ig a wlMTrIIy-owfKd 5ubyidiary ofih¢ L￿T￿ratIOn of Trinily Ilouse. irtcorwrotrd on
19 Marth 1993 And is r¢gi51crcd in England, number 02801613. Thc addrcss uf ils RegiS￿re￿ oifire 18 Trinily
HOUK, Th¢ Quthy, Harwich. F.&8cx C012 3JW and its prit)¢ip81 a¢iivily li the Ictiing of li8hthous¢ ¢otth8es.
A summary of the results for ihr ￿at is &8 follows..
2Q22
2021
£ouo
'rurnov¢r
1,564
11,3631
zoi
1.054
1765)
289
Totsl expcnditurt
Profit after t&x
TO1￿ ￿gets
Total li&bilities
1.421
(490)
931
1,208
14781
730
N¢¢ asseLS
43

CORPORATION OF TrINITY HOUSE OF DEPTFORD STROND
NOTES TO THE GROUP APID COMBIf4ED ACCOUNTS
For the y•ir ¢nded 31 Mxr¢h 2022
26. SUBSIDIARY COMPANIES Irontinued)
(bl TriTrity House Events Llmlttd is a wholly owft￿ subsidiary of the COr￿lOn of TrinityHO￿. incorp)TAt¢d
on 26 Jwjuary 2011 and registered in England. number 07J06613. Th¢ addT¢55 of its RcgisteTcd Oftice i5
Ttiniiy Ho￿. T0￿r Hill. L4)n&)n EC3N 4DH 4nd irs priiJGlpal activity i5 thc ktting ofthc function nXMll8 at
Trittity House.
A summary of r¢w]ts forthe yrttr i5 W5 (olknvs..
2021
2021
Tumovcr
l¢j￿ ¢MrKnditure
Profitlllossl tor th¢
305
(147)
(237)
174
Tothl assets
Total li8biliti¢s
Nct liabilitl
347
1403
253
(367)
27. GRANTS AND COMMITMENTS
Grants poid ts> in￿LIuliOnS in th¢ year totsllcd £1.226.(i101202I.. £1.632.000) whilst &Tan￿ paid ¢0 indiwduAIs
trAAllcd £23,00012021.' £27,000). Full dctails of all Brants ￿ld can be obtalned frcffl Lhe Secretary to
th¢ Cwolion.
At 31 Mar¢h 2022, 8ranl ¢wnmithMts from thtu¢r ittcornc wrre £nil {2021.. £2.?20.000).
AI 31 MAr¢h 2022, the Trirtiiy14uuse Maritim¢ Charity was ¢ommi¢ted to payments of £2.061.000
12021.. £2.430,(KJO) In rcspocl of the Mvchgnt NAVY &holarship S¢h¢me.
28. REIATED PARTY TRANSACTIONS
Owin8 ￿ th¢ Choriti¢s' ￿￿110[13 and th¢ rA)mp051tion of the CorrKJrate Fknrd. il is inevitable that yartts will
be mAth kn or8anisNtions irk which a Iru3tcc may havc an intcr¢st. Similttrly, Jxoperti¢.% may be lellsed to tsust¢es
or othcr ￿[VItEd p&rti¢& All grants ond transaclions involving such organisatioths and related p&rtics
LY)nductcd at llrnJ's Icngth.
Bxc¢p( for (Tansactions with trusl¢e8 in¢lud¢d in no¢¢ IJ, there ve no othcr rclatcd party transactions
requirin8 dis¢losur¢.
44

CORPORATIOiY OFTRINffY HOUSE OF DEVtFORD STROND
NqvfES I'OTHE GROUP AND COMBINED ACCOUNTS
FOT th¢y¢•rendtd 31 March 2022
29. COMPA114T]V
(*) GROVPSTATEMENT OF TrINANCIAL ACTIVITIFS
Forthq ytsr thded 31 M&r¢k 2011
Trinity Hott8e Ntiritime Chority
ChNTity Unrc8tricled R£StrI¢￿ P¢rnaTrcnt
fuDd
fimds EndowThcnl
(indudin8
fundi
Trt•l
2021
£000
£000
£OOD
£(KJo
£￿(x)
INCOME TrROM:
tTronat¢onB ond Iyoi
Ch￿tsbIc aL*ivilies
12
453
16
768
1237
Oth¢r Ir￿11￿8 AL#ivitie4
Other opcraluL8 income
InvutnKnts
758
758
359
359
27
7.510
7.538
TOTAL INCOME
1.598
7,527
779
9,904
EXPENDITVRE ON..
R&isin8
aTitsbl¢ artiviti¢K'.
1.002
3.442
4,453
W¢ltBrc
1.544
44
1.597
3,167
701
Youth opwrtuniittt tr•inins
Publi¢ ¥•fdy fjnd ¢ducaiinn
Main¢a¢nin8th¢ fabriG 4nd hcriittBe of
Trthity Hous¢
Tmp4irn?¢nt of tr¢*wtc
Rol¢ u * Dtq) Sca Pilotw AuthcK¢ty
provi6l￿ OrNA￿les1 Au#iors
2,381
786
580
719
12B81
719
{2881
19
TOTAI. EXPENDITURE
I,469
7.4¥8
1.366
53
10,376
Nb.T IEXPENDITUREI I IT4f.OME BEFORE
INVFtsTMENT GAINS AND LO&SES
129
39
1587)
(531
1472)
Losses on Th¢ rcvilu41ion aDd
disposal of invuun¢ni propthe
Gains on th¢ t¢vBiualion and
disposal of wtfolio invCgbth￿ts
112.4621
112.4621
22S
4,205
4.430
P4ET IEXPFNDITUREI I INCOME
354
39
{5871
(8.3101
18.504)
OTHER RTr.COGNISED GAINS AT4D LOS8F3:
8aiD m d¢fm¢d beTrefi¢ pension 5chcmr
126
412
538
ET MOVEMENT IN FUIYDS
480
451
15871
(8JlO}
17.9661
BALANCE AT I APRIL 2020
10,211
1.165
2.681
265.678
279.735
BALANCE AT31 MARCH 2021
2.094
257 368
271769
45

CORPORATION 0FTRIN￿Y￿OUSE OFDEPTFORD miOND
NOTES TOTHE GROiIPAND COMBINED Accourlrs
F•rtheye4rtnd¢d 31 Mareh 2022
29. COMPARATIVES {<ond•¥e4)
(b) COMBINED CHARITIFS. STATEMENf OF FINANCIAL ACTivrriES
For th¢ yMrwd¢d 31 M*rth 2021
CoTporats Tritity How¢Mwitim¢ Chgrity
Chwiry Unrestricred PvtD•J¢nt
fiwd•
lknda Etydovrtn¢nt
Total
£000
£000
£0
£0(
£0
INCOME VROM:
D￿￿10￿5 Bnd le£atie%
Aril4bl¢ •r¢ivili
Io
12
453
16
1337
211
Othcr tsading 1¢4ivlii
27
7.510
7.538
TOTAL INCOME
7,527
779
8.998
ExPEND￿URE ON..
iillhinB hjnd
•ritsbl¢ 4divili¢8'.
212
3.442
W¢lfqre
1.544
2J81
1,597
3.167
701
Youth oppwtunitim tr4inin8
Pybli¢ and edu￿11
MaÈDlainin8th¢ fabric of
TriDrty Ho
IwaL￿¢￿t of treaswv
Rok D¢4J St4 Pilotw Auththty
Prvvi•ion LifN•uti¢oJ Atsejgc
580
719
12B8)
719
(288)
19
19
T￿rAL EXPE14D￿uRE
679
7.488
lJ66
53
9,586
NKT IEXPKNDITUREII INCOME BKVORE
IhmTMENT GAINS AND LossÈs
13
39
1587)
1531
(J88)
GaiM I Ooow5) ￿ th¢T¢v•lution attd
(114621
{114621
GaiD3 IOoMe8) utt thercvalu•don aDd
dwsd of p(K¢folio inwutsn¢n¢
225
4.20J
4.430
NKT lEXPRND￿UREj I INCOME
238
39
{587)
18JlO}
18.620)
I￿NER R£COGNIS&D GAINS AND LOSSES:
Aduatial 842D on dcfwed beDefitpeti8ioll sch*lle
126
412
538
NET MOVEMENf IN FUNDS
451
(517)
(8.082)
BALANCB AT I APRIL 2020
9.710
1.165
2,611
265.678
279234
WANCE AT 31 MARCH2021
10.074
1.616
117.308
271.152

CORPOii4TION OF TRINITY HOUSE OF DEPTFORD STROND
N(YfES TO THE GROUP AND COMBINED ACCOUNTS
For th¢year eDd¢d 31 M•Tth 2022
29. COMPARATIVES l¢Mtl*ytd)
It) INCOMK FROM CIIAIUTABLK ACTIVITIF3..
Group CoThbi*¢d Chartdta
Cwte
Trinity Hou
Chariiy
Morilime Charity
Uwtstrittrd Unrf8tri¢¢fd Restrictsd
Totsl
2021
£000
£o(M)
£ODO
W¢lfgTe
Youth oppomjnities tr•itiin8
Contribuiion from TritiLty LL8h¢lvMs¢ Suvice
Oth¢r
16
16
768
768
317
317
136
136
T0tJl 2021
453
16
1,237
{d) INCOME VROM INVFSTMKNTS:
GTWP 4nd Comblned ch￿￿11*$
Ccyrat¢
Trinity Hou
Ch&rity
Maritim¢ Lharty
Unratrida Unrt8trictcd Reth"¢trd
d8
Ojnds
fjjnds
£O(K)
Total
2021
£000
InveAth*nt prq>mi
Portfoijo inv¢4ltllcnl8
Bank intctc81 and uthu flnon￿ incorn¢
7.280
228
7,280
255
27
Total 2021
27
le) EXPENDtTURF, OP4 RAISING FUNDII
Gro¥p #nd C•mblwed C'.hHrltl
CorpoT4t¢
Trinity Hou8e
ChBrity
Mprbtimv Charity
Utw¢swi¢t¢d TJnreJtrided Etidownent
nds
tund8
Tfjt
2021
£000
£000
£wJo
Laiin8 of thnclioll room6
Mpn4g¢m¢4Jl of itLWtsbneni 4Mets'.
Ealale manll8th' ftts
Lryal 4nd ather4dmln1str￿IoA fr
InveatmeThl mllll8ws' f¢t5
MHiTht¢nan¢eofinvrJbllml 455¢ts,'
Rcpllirs, m&itht*wi¢¢ Ind refvrbishmrnt
212
212
503
466
503
1,947
526
1.947
526
212
3,442
3.663
LcttuJ8of IIBhthouse cutla8¢s
Ldtin8Ot'funclion rnotN8
Gr￿P
76S
765
25
4.453
47

CORPORATION OF TRIP4ryY HOUSE OF DEPTFORD gnioND
NOTLS TO T1￿ GROUP AND COMBINED ACCOUNTS
For the year elldtd 31 M•r¢h 2022
29. COMPARATIVES (eolltlnwl)
(fj EXPENDITURE ON CHARITABLE ACTivM￿..
ind Ctsrnbln¢d Ch•rttl¢•
Corpcrf&t¢
Trinity Hou5C
Charity
Maritlmc ChDrity
Unrcstrictcd UT￿¢strIcted EndowTn¢nt
ti]nds
funds
fijndj
£000
Totsi
2021
£oc
Maintenall￿ and upkeep of th¢ Trlnlty H(rfn¢s
Grants ￿ld- de$i8n&t¢d
Grants pald- other
sup￿ costs
Tolal 2021
374
611
31JS
254
418
314
254
544
44
EXPENDITURE ON CHARITABLE AcfiviTIES:
YOUTh OPPORTIJ7IITIES AND TrAINING
Group Combl*ed Ch•rltl¢•
Tritii¢y House
Marfllm¢ ChaTrty
Unrestrlokd Re5tr1ctcd
lknd5
Total
2021
£000
1.252
257
459
Merchant NiTry S¢holarshlp Schcmc
Grnnts PBid- d¢si8llat¢d
(lyants pald- other
0￿r r¢strl¢ted ￿lts PAid
768
1020
257
439
18
413
18
413
Total 2021
786
(hl EXPENDITURE ON CHAIUTABLE ACTIVITILS:
PUBLIC SAFETY AND EDUCAIION
Group And C•mbl*td ChArltl
Trfnlty Ho
Maritime Charity
Unrestricted R¢5tyi¢*d
Totsl
2021
171MC￿￿ 8rants
Grants Paid. dcsiBnN*d
Grants ￿ld- oth
Support f05t5
T¢)tal 2021
38
53
30
38
53
30
580
701

CORPORATION OF TRINITY HOUSE OF DEPTFORD STROND
NOT&$ TO THE GROUP ATr4D COMBINED ACCOUNTS
For the yeY4r ended 31 Ma￿h 2022
29. COMPARATtVES (coThtlthut41)
(I) ANALYSIS OF SUPPORT COSTS
oirice
stAff
£(K)o
Seryi¢e
Admin
costs
To¢al
2021
£000
£000
£O(x)
Raising fi]nds
W¢ifar¢
Youth opportunities trwnlng
Public safety and eduLatiun
Main¢ulnithg thr fabTiG ar￿ hcritw of
Trinity Hou5
Total 2021
295
159
43
17
188
78
526
234
414
Jo
258
18
28
128
10
107
107
837
90
404
U) CORPORATE CHARITY- DgSIGIYATED FUNDS
B￿ance at
New
l Atvil 2020 desi8naiions
£000
Utills¢d I
Icus¥d 31 Mar 2021
£(￿0
Hous¢ D¢si￿A￿d Fund
Fixed A￿ts Fund
603
60
1219)
444
8.593
9.196
439
8,919
9.363
352
(kl CORPORATE CEL4RITY- RESTRICTED FUNDS
Balan¢¢ ¥t
April 2020
£¢M)O
Income Exwidiwre
Ba]anc¢ a¢
31 Mar2021
£o(MJ
£000
£￿)0
Warden's TriniryHvu¥¢ R¢licf Fund
Brcthren'5' Covenanl Gift Scheme
58
38
60
(I} TIUNITY HOUSE MARITIME CHARITY- DESIGNATED FUNDS
Balance al
New
l April 2020 desi8Ntions
£IMJo
Utilised I
Balance at
r¢leay¢d 31 Mar 2021
£000
Extra￿di[￿Y Rcpoir Fund
mewh￿tNavy S¢hul4rship Sth¢me
177
500
177
5(K)
677
677
49

CORPORATION OFTRINITY HOUSE OF DEPTFORD ￿0ND
OTE$ TO THE GROUP ATr4D COMBINED AceouNTS
For Iht year t•ded31 Mirtk 2022
19. COMPARAftVLS l¢0Dlliu¢dl
{m) TRINrrY HOUSE MARITIME CHARITY. RLSTRICTED FIJNDS
Balarb¢¢ at
l April 2020
Movem￿1
Income
Exrthdiiiire 31 Mar 2021
£(N)O
£(N)O
Swire S¢hDlar5hip
Swire YeomDn Support Fwui
C4plain John Bvry Mcmorial Prize FUJ
Gr•nls for McTcthaTrlNivy SchO￿r$hip S¢h¢m¢.'
Oov¢mrncnl fvnding
Sponsorship from the J• Har￿¥T8￿rd
Biilish M4rw Pri￿ Fulld
D￿Nn*￿t forTviTh8pDrt Fund
J Mummcry
5}
105
12
12
761
17681
46
2.488
46
l.g¥J9
15801
{•) TMINITY HOUSE MARlliME CHARITY-PERMANENI. ENDOWMENT FUNDS
Ba&rJLe
Movtmenl
l Apnl 2020 Expendithire
(hini Ind 31 2021
Trinbty VilL4
Chur¢h and Wrst Firnj. (knhill
MllrtLTrC& F•rm. EM
TrinityHomM. Wakn
258.029
4,424
17,4fv)1
11681
97
250.569
3.556
1,337
1.985
1441
8.266
(•) ANALYSIS OF CROUP NET A&SF.7S BLTWEEN FUNDS
Cor￿￿￿* Ch4rity
Trinity Ilousc MJrilim¢ Chmily
Non-
UnrNtriL*d
ReStr1d￿ Unte8trJcled
Rcstricied EndowmeThl
¢hrilabi¢
ruThdA
runds Tr￿In@ thndi
£000
Tothl
2021
£nrM)
£000
£000
Fy•d It Jl March 2•21
•re R¢pvt•t#t¢d by:
Tin¥il>l¢ fLxed llJs¢ts
8.922
1,740
2J7,3J7
562
11.290
2J8,34J
4,062
333
12J6)
21
900
18451
Curreni li4bilil
Drfined bU￿fIl p¢ThJh?n 4Me¢
T￿1 lltf Abjets
J35
167
257 368
017
271769
50