Charity registration number 220793 IEn9land and Wales? Company registration number 189439 THE MERSEY MISSION TO SEAFARERS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 SEAFAwER- • xeinadin
Draft Nnancial Statements THE MERSEY MISSION TO SEAFARERS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr G Rafferty MrJMa Mrw 80&Y Mr D MacL&)d Mr S F Gallinmxo Mr F Rotr*)tham Secretary MrJ WIL8on PresKdents The Bishop of Chester The Bishop of LiveJT The Bishop of &xJor and Man The Bi%hop of Birkenhead The Bi5hDP of Watn"ngiDn Hon. Chaplin Revd G Cuff Charfty numbar (England andwaltsl 220793 Company numbor 189439 Regtstered office 20 Crosby Road Soulh WaterkMJ LNerFwI Mers8yStda L22 1RQ Indep8ndent examiner Helen Furfow FCCA Xeinadin North W¢st rnited 46 Harnilton sqre Birkenhead Merseyside CH415AR Banker5 Bardays Bank PIC 48-50 Lord Streel LivertKX>] Merseyshle L2 1TD Investment advlsors Evetyn Partners Royal Liver Building Pier Head LNerpool Merseyside L31NY
Draft Flnanelal Statements THE MERSEY MISSION TO SEAFARERS CONTENTS Pagtr Trustees, report Independent examinefs Staternent of financial acbvibes BalanrA sh8Èt Notes to the fianra statements 10-19
Draft Financial Ststements THE MERSEY MISSION TO SEAFARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present theiT annual rert and financial statements forthe year ended 31 MaTch 2025. The ftnanual statements have been prepad in ac£Ordan the accounting poliaes seE out in note 1 to the financial statements and compty wilh the charivs goveming th)cumenl. the Companies Act 2006. FRS 102 Vhe Finanual Reporting Slandard apIcable in the UK and RepuNic of Iland, and the Charities SORP 'Accounting and Reporbng by Charities.. Statement of Reojmrnended Pracce applicable to dri)eS preparing their accounts In accordan with the Financial Reporbng Standard appScable in the UK and Republic of Ireland IFRS 1021 Oblecttves and aotlvltles The objects for which the Mission is eèblisherl e._ tD WDvide 0[nS for seafaret5 for the purpDses of meeting. assembly. rE[shment, readSng wrttlng or recr8atk)n, 8ThJ offic8s in (xJnn8clion ther8wiIh. to promote and ministerto spiritual. rnOr and teMEal weWate ol the seafaring communily who frequent the ports ofihe RNer Metsey at¥J IS of Man. The Trustees remain focused in supportsTrJ the work of LNertM)ol SeafareTS Centre, through which the charitable objects of The Mersey Mission lo se8ftdrs is exectrted. Liverpool Seatsrers Centre has the facilities lo meet the need ol all Msiting Seafarers, irrespe¢bve of thr iThYNidual colour, ra. cEed or belief. The service delivery is Ihrough the office of the Hornrary Chaplain and or Ihe team of Ship Ifisitors. who lpriSe staff rnembats and volunteers. LNerpool Se8f8rers Centre, based in Waterloo adInt to the main entran( lo The Port of Liverpool is the focal point froTH whKth all servi5 are delivered. either w[In the centre or whilst out ship visiting. Operating 7 days per week at titne5 to meet dernand. the semces are well reIved by all, as refence by the MarkS In the visitors, book. Liverpool Seafafers Centre is represent8Trive of the'parent les. beiNJ an ecumenical parthership ben the Aposdeship of Ihe Sea {Liv)ll a1 The Mersey Mission to Seafarers. Today all staff members. are employees of LNerpool Seafrdters Centse, all of whom alDng 1h the team of vdunteeTS uphold the Christs'an ethos ofthe centre. wrth of workj trade and 95% of UK Iraye transporied by sea. thiough its charitae oblecuve of providing "welfare ServeS. to all seafare ¢))nfirm public benef Trustees are clouS of the public benefit pNncipal. by which the charity is govemed enabling its tharitabk status to cnntinue. While the direolion and policies of the.missn. are del8nniwJ by the Trustees. who ad in an honorary capacity and rneet at regular intervats to tTK)nitor the of the 'misSn., the Chief Exe(xrtwe has r8sponsibiEty foi th8 day to day running of th8'mI&0rt. Volunt¢Efs r¢tnain an integral part of the organisabon. wtlhDUt whom rnany of the seNce5 VAII be lacking. Currently 4 dedicated individua15 offei theiT time freety to suppartthe weware of Seafa[5. The trustèes h8V8 paid dua rer to guidan(s issuad by thè Charity Commission in deryrfing what acbvities th charity should undertake.
Draft Flnanclal Statements THE MERSEY MISSION TO SEAFARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perfomiance Charitable activliiès Thè Trustees, primary objective is to defver a firstdass servKe to all seafars as part of thelr Chrisban outteach. whilst at tre same titne. Ensuring a Sustainab financial position both now and lor years to ¢XJrn8. It kg throLTrgh the ecumenical partnership between the Apostleship of the Sea IVerprlI) and The Mersby MiSsn to Sèafarers that this Servi delivery i% achved. Liverpch)I Seafarers Cenlre. a Tegistsred charity at¥J CDmpany Ilmited by guarantee, created by this partnership. is the vehhje through which both pathers execute their (xjmmitted DbjectNe. Liverpool Seafarers cent is the lrfeline to all Seafare. to include fisher5, for whDrll th8 sèrvice is aimed, and who benefit Irom its delivery. Whli st The Mersey miss1 to Seafarer5 is not itsèlf drt]Y invofved in front line service deiivwy. it has a responsibilty. since its fou[1Dg on 24 Novefflbgr 1856. towÈrds the welfare of all Seafarers irrespective of natnality, bdief or rdnk. it 5ee5 aN Seafarers as beiry equal. Fdlow human beings from the economically disadvantaged country5 of the l(Klay make up the ftom which Seafarers are drawn. 11 is paiamDunt that 1 need as F¥esenled by the individual Seafarer meL On oc10nS this is nol ahways possible, due to many exte7 factors, it is then thrrh the n8tworf of Mission's throughout the wortd that conlact 18 rnaintsined to ensure that what is not completed vAthin our geogratthic31 atpa, 15 highlighted and communicated to kindred Societls l Mission's in other port5. The MISSIL is a four)ding member of ICMA, IntematnaI Christian Marilim8Associati, a memb8tship of 28 Christian Mi%wns spread thrr)ugh(yJt Ihe world. As 8 m8mbgr of the Intem8tnal Chrisban Maritime ASsCtiatn IICMAI, The Mersey Mission to Seafarèrs ha5 signed its code Df conduct stating it wu= al Show an uncondftK)nal lov& to the seafarer as a human being. tj in thg image of (, and a sinceTe respect lor herlhis personal values and bel b) Swe seafarers and their dependerets of ao nalK)nalibes, lIgiOns. Ixjrtures. language. sex or race.. c) Fight prejudice, intolerance and injustir£ ofany kttMI-. dl Respectthe diversty tsl ICMA Mèmbers 8nd Churches and to devekjp Ehat which untss Ihern., el Respgd byaKy of th95e enaged in marib.me ministy to their particujar eIe5]aSrl dis(a1n9 and tradition and refrain frorn piosetylislng seafarers; Q Co-operate with persons, oryani8at#Jns and insiitutions, Christian or non-ChIi5tian. whid) work for the Welfare of seaf&ers. The Trustees are Imimitted to fund the owating cost of LiverFKN)I Seafarers Centre. ThtS is in a partnership with thè Apostleship of the Sea IVerpOOlI with Wh an ecumenio31 covenant is agreed. The Tntstees of the Mersey ission to Seafarers remain gratefvl to the AposUe5hip of the Sea [VerpoDI> Tru51ees for this arrangement. This will ensure that The Mefsey Mission to Seafarers i5 financialty abLg trj tx)ntinua wth fundw agreemenl for fijlure years, albe this arrangementwill require regular review. Today Seafarers (Ate loneliness, isolath. fatigue. Monotony as ¢yxDrnon issues UFTh which they thBllenged on daily basis. a friendfy listening ear can oftÈn relieve the burden of rnent ptèssure. Something as simple as allDwlng a Seaf2rer to smilè. can momentarily relieve this buiden. Wrth faster tumaKxJnds, shore leave is not aayS possible for crew, which is why our policy to Vis¢ all ves591s wthin our geographical area is paramount. None of our mission in Ministry will be possible th0 our dedi(xted Volunteets. but also the many who support our endeavours in so many ways through the Ix>ntinuous 5upp]y Of w(K)Ily hats. wami clothing, books and perdICa]S of interest. confeclimary. e2kes, rhiklren's ththing, toys and jigsthys. all ot which are given to Seafarers. with the message that they have been given to us tr) p&%s on wrth Love. Furthermore. new donors have come fExward following the appeal through radK). pre&5 atld so] mjia and added to the gifts. all ol which are well received by crew.
Draft Flnanclal Statsmèr THE MERSEY MISSION TO SEAFARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustèes $h to ptace on r8wrd their gratèfu] thanks to all indivklu8ls and gnjps. th1Th thè Iality who most generously supwrt ourwork with these donations. FDr the retiied Seafarer, thtough age. rEason OT Ii Iness is no longer grnplDy8d, & rne8n5 through which cotnmunlcation is maintained wth the nutnerDUS mlme asstionS of past shipping mrnpaTrie5 is offered on behalf of The Mlsston. by knv8rpool SÈBfarèrs Centrè. Thi% may necessitatè a homè vlsTt, whlch Idènlfles a need, relieve loneliness or isoL8tion or simply a befn"end-ng Se. A% a need idèntified, pracli(xl assistance is offered and when necessary finatKial support thrDugh a dis(xetFonary grant, the replaLEtnent ot USehOld goods o,- a ctsntdbuilon towards funerdl expenses can be made. Contaci is maintained through emall. teleKA)one and Zoom. Technology has been all imFMJtsnt and continues to be a means of maintaining contact today. Financial revièw The 'Mission's' nel incoming resources from Charitab actiwtie5 for the year ended 31 March 2025 was a defjcil of £94,15812024 rJg,7531 there were losses on investments of £1,36312024 gains £34.8571 making a total defiat of £95.521, 12024 deficit £4,896). This amount ha5 deuea5ed surp]us funds broughl forward 01 £1,414,611 leaving lunds of £1.319,090 to be carri8d foThYJrd. Inveslments decreased by £112,234 to £928.167 and also cash b8lanc8s have decreased by £59,549 to £37,189. The charills free Unrestri reserves amounted to £195,025 12024 £299.9661. The Mission awarded grants tolèling £117.5W12024 £97,5(x)I towards Ihe nJnniThJ wsts of Live4)cK)I Seèfarers Centre. In addition, charity support5 InlU31 benefioarfs who themselves havp been Seafarers Df their spouse or parts)er through the provIsh of ono off disuetirxlary grants. the replacament of hous8lK)kJ itams and as the need arise cxxtrbution towards fijneral expenses. Re$eive$ pollcy The TnJstees agreed policy to rnaintain suffjcienl reserves. generate a level of it)come frorn its investments including the property together wth donations and fundrdi5ing effort to meet the annual expenditure in the mediurn to long term, thus ensuring the 5UStainability of the Chaty. The Tmstees are united in their determination and ornmitrnent to evsure that suffiryent funds are availab. The Yrd5 taken to incxease investment inrx)me to meet Ihe curr8Eht liability of 40% of Liverpthl Seafarers Centre's op8r8lng rx)sts. thts has h1 th8 8ffect of a ch8roe 10 th9 investment risk from low to Ml1m. Going concern After making èppropriate enquiries. the Trustees have a reas£bre expectation that the charity hès adequate resources to continue in opernnal eKstence for the foreseeab ftjture. This is further eVIdend through tr agtEeTnEnt to change rnIty thE funding arrangetnent to support Liverpo Seafarers CentrE from a 50 150 split to a 60 140 spllt, between the Apostleship of the Sea { ¥p(J1 } aThJ the Mersey Mission to Seafarers. It is for this reason the charity continues to adopt the going nCeM basis in preparing the finanual statements.
Draft Flnancial Statements THE MERSEY MISSION TO SEAFARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investinent Pollcy Trusiees are emrM)wered by the Arb"des ofAwiation to invest any trust mnies. as aulhorised by law, in such a rnanner as they think fil. The Tnkstees have adopted a palw for a portfdio of investments that is d&%lgned to optimise retums over the k)nggr t8rnJ which wll provide a supply of lunds tp support the Commitment tr) meet its obligation to furKI 40. of the operating Ix)sts of Llverpool Seafarers Centre. The Trustees reM51t and assess for sultability the investrnent poliry togéthèr the level of risk. The risk is currently sel al medium N¥ith an emphasis of generating in(x)me whilst a¢hieMng capital grovAh. The investmenis are diwded arnongst a wde range of both equity and tnjst funds. The tK)rtfolio is managed extemalty by investment manageTS who th8msèlvès are regulated by the Firb8n¢kql Services Auority. Qjartedy Valuat$ are red and annu8lly lh8 InV9Stment manager meets with the Trustees to discuss the p)rfolio perfornance together any future trers. The Chlel ExecutNe maintains clos8 eontact with the investment manager and the Trustees 8pd Wds able to ensuTe th31 sufficient funds were av8il8t>l8 to fulld the 40% comrnitment towatd5 the operating Costs of LNerpool Seafafftrs Cent. The Irusl88s follow the guidan for investrnent of Charitab lunds as issued by the Chaiity Gommi&%ion. Prlnclpal ri5k5 and uneertalnti•s: The trustèes have assessed the maior risks lo which the charyty expos8d, and ar8 saUsff8d that systems are in place lo mitigate exp05ufE ts the maior risks. Future plans Mission is committed ah)ng with the Aposlleship of the Sea ILivetPLdl to support the work of Liverpool Seafarers C8ntrt to meet the spiritual and pastordl needs of 811 Seafarer5 forthè foreseeable future. The Mission wll continue to meet rts fiability of 40% of the Operating (x)st to ènsuTB future on a secure footing. For operatsonal rcasons, the Intention to extend its prOwSn lo the sMalr Ihe NW coast d5d Th)t malerialise, however the TrustÉ8s are comrnitted to develop this Ithe, wtth discu5510n5 other interested paty's in eadh ItIn to 8nsure this will become a reality. It remain5 the intenttcn to create a Seafarers Welfare Dropln Hub within the Port of Gar5ton and tci extend the facifjty al QE11 Dtsck. E8stham. The faulity at Eastham is housed 1th1 a building which was shared unlil. An opportunity exists to take over the wts)]e bu1)ng affordiTrJ an enhanc fa(xlity and outreach tr) all vessels berthing within the Manche5tei Ship Canal. Tre provision of welfare services at the Cruise Teminal. now urrfjer agwment with Gkbal Ports, will continue. Discussions aré ongolng to ensure a crew welfare f81?lity wll be a fDral PK)int wthin thp plans whlch include the nstnjction of a new berth. affordiTrJ fvrfo vessels to berth SMUane0Lj5Iy. An opportunty has arisen lo expand the faGility at Ea5tham, the ¢j&ment of some lditIonal Ship Welfare Visilor hours, replacement minibuses, our lrfeline. a major fundraising rampaign will be instigated. In addrt to increase the number of Volunteers the ovetall managemenl sbijcture wi15 be reorganised. wth the Deputy Manager Dvers*ng the front line SeiCe provision. 8ffording the Chief ExecutNe's role to be Tnore management fouJsed. With this model in pL4ce. this wll Ènsurè that all statutwy and legi5ktive requirements of the Charity are in a timely manner ¥knich al the same litne ensure that the commitment of the Charitablè Ot4eetive is met in full.
Draft Financlal Ststemonts THE MERSEY MISSION TO SEAFARERS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Strudure, goveTnance and management The charity is controlled by ils wvwning documenL a deed of trv31, and ¢xnstilutes a lirnited company, limtte(J by guaTanlee, as defined by the C¢)rnpanie5 Act 2006. Thè trustÈe8, who are also th8 direclors for the purpose of company kv, and vJhD served during the year and up to thè date of signaturo of the finan¢i81 ststernents are: Mr G Raffety Mr T Dickirjson MrJ Mace Mr W 8owley Mr D MacLeod Mr S F Gallimore Mr F Rotharn IResvJned 14 May2024) Recrultment and appjlntment of new Trustees Trustees are drawn from the Mersey&de area arxj rnost arE dready famibar with the piadcal work Df the centre when appointed. Any new tnjstee wll bè encouraged to attend slKXt tr8inlng sionS to fam",Ilarlsa themselves with the drity and the context in which it operates. Management The Chief Executive ensures that the Board is kept up to date with any changes in legislalion, rules and regulations which affect the Charity. Nonè of th8 Trustees has any benÈficTal interest in Ihe rxjmpany. Ml of the Truslees are member3 of the company and guaranteè to ¢ontributg £1 in thfj èvent of a winding up. The trustees, report was approved by the Bcerd ofTruslees. Mr G Rafferty Trustee Date..
Draft Financial Stat8rnents THE MERSEY MISSION TO SEAFARERS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MERSEY MISSION TO SEAFARERS I report lo Ihg ttustees t)n my examination of the ffnanrial ststÈments Df The Mersey mion To Se8faiets (the charity) for the year ended 31 Marth 2025. Responsibilities and basis of report As Ihe trustees of the charty land also its rfirnclors for the purposes of (xxnpany lawl, you are POnSible lor the ptep8ration of Ihe financ4al stslements in a(xx>rdan¢z with the requirements of the cornpansAet 21M)6. Hang satisfied myseK that Ihe finawal stat&mer,ts of the tharity are not required to be audrterl under Part 16 of the Companles Act 2CM)6 and are duibl8 for independent eamInatiOn, I report tn respect of rny eXaMinatit of the chariils financial statements carried Qut under section 145 of the Charities Act 2011. In Ixrying out my exarnination I have folknwed the Dire(A(ons gNen bythe Charity CommissKJn urhyer se(*0rt 14515Kbl of the CharitiesAct 2011. Independent Examlnerfs staternent I have cornpletefl my exami[tton. I confirn that no rnatteTS have come to my attention in ¢x)TJnection wth the examination gNing me cause to believe that in any matorial reSl accounting record8 wer8 not kept in tESpect of Ihe charrty as required by s8¢tion 386 of the Companies Act 2006. the financial statements do nol acwrd wlh thos8 re[d9'. or the financial stalemenls do not eomply wth Ihe accounting requirements of section 396 of the Companies Act 2006 other than any requir¢rneTrt that the financial statements giv8 a tnjè and fair view, which is not a Tnatter considered as part of an ujdependent examinatKJn', or thè fjnancial statements have p.ot been prepared in accxydance ¥wlh the melhrjds and wlnciples of lh8 Statement of Re¢omrnended Practica for aecountis)g and repIng by charities applicable to charities preparing their financial statements In armdance with Ihe Fin8naal RBporbng Standard appfKable in the UK and Republic ol Irekgnd {FRS 102). I have no concems and hav8 comè 8cro&% no other matters in (eGtK)n vrith the examination to whith att8nUon should be drawn in this re1 tn orderto enable a propw understanding of the financial statements to be reachad. Helen Furlong FCCA Xeinadln North West Limited 46 Ham10 Squats Birkenhead Wirral Merseyside CH415AR
Draft Financial Statements THE MERSEY MISSION TO SEAFARERS STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2025 Current financlal year Unrestricted Endowment funds funds 2025 2025 Total Total 2025 2024 Not•s Income and •ndowmgnts from: Donations and legaryes Investments Other income 37.354 49.303 1,832 52.622 447 52,622 447 Totsl Income 53.069 53.069 88.489 Expenditure on: Raising fullils ChÈritable activities 6.511 140.716 6.511 140.716 7.599 120,643 Total expenditure 147.227 147.227 126,242 Net gainslllossèsl on Investments 13 12.8691 11.363) 34.857 Net oxp8ndlture 192.6521 (2.8691 {95.521) 14.896) Transfers b8lJ4gen funds 112.2891 12,289 Net Tllovement in fiinds 10 {104.941) 9.420 195,5211 14.8961 Rtconciliation of funds: Fund bal8nc&s at l April 2024 299. 1.114.645 1,414,611 1.419,507 Fund balances at 31 March 2025 195,025 1.124.065 1.319,0 1,414,611 The statement of financAal activiti&s ldudeS all gains and1055es recconised in the ye8r.Al inD)me and expendituré deriv8 from continuin9 8cb"vities.
Draft Financial Statements THE MERSEY MISSION TO SEAFARERS STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Prlorfinancial year Unrestrlctèd Endowment funds fund5 2024 2024 Total 2024 Notes Incomè and ènd¢)wments from: Donalions aThJ legapi8S Investments Other income 37,354 49,303 1,832 49.303 1.832 Totsl income 88,489 88,489 Expenditurè on: Raising tunds Charitable activities 7,599 120.643 120,643 Total expen¢Jiture 128.242 128.242 Nel gwnslllossesl on investn*nts 13 (3741 35,231 34.857 Nèt Incomellexpenditurel 140,1271 35.1 14.8961 Transfers beeen funds 11.31K)I Nèt movement funds 10 138.8271 33.1 14.8961 ReconGiliation of funds: Fund b8tan¢es at 1 April 2023 338.793 1.080.714 1.419.507 Fund balances at 31 March 2024 299.966 1,114,645 1.414,611
Draft Financial Statem8rrts THE MERSEY MISSION TO SEAFARERS BALANCE SHEEr ASAT31 MARCH 2025 2025 2024 Fixed assets Tangible assets Invèstmont property Investments 15 16 17 4.[)0 928.167 490.000 1.040,491 1,418,16B 1.530,492 Current assets Debtors Cash al bank and in hand 18 2,308 ,738 37.189 40.697 99,046 Cr8dltors- amounts falling dLte within one year 19 (139.7751 1214,9271 Nèt currènt liÈbilitÈes 199.0781 1115.8811 Total as58ts le55 current liabilities 1.319. 1.414,611 The funds ofthe charlty EndowTnent fuT¥J Unrestricted fvnd8 1.124,065 195.025 1,114, 299.966 21 1.319,0 1.414.611 Th6 company Is enttlled to the exernptK)n Ir(xn the audit requirern8nt contsined in section 477 of th8 Companie6 Act 2006. for the year ended 31 Marcti 2(Y25. The d1ctO[5 acknowpedge ttir ie5ponsibilthes for rxjmptying wilh the reqUiments of thp Gompanie5 Act 2006 with respect to accounting records and the preparntion of financid statements. The members have not reQuirj the compèny to obtaln an audli of its finarMx8t St8tements for the year in question in awJdance wlh secuon 478. These financjal statements have tegn pr8pared in a(XX)rd8X wilh the prowsions 8pplt(xble lo u>rnpanies subject to the small companies regime. The financial ststemenls were approved by the tmstEes on......................... Mr G Rafferty Trustè• Cotnpany r8gistrdtion number 189439 {EngL4nd 8fKI Wa)
Ljraft Flnancial Statements THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Charfty informatlon The Mersey Mission To Seafarers is 8 private CoMnY 14mtied by guaraniee incorpornted In England and Wales. Th8 register1 office is C¢knsay House, 20 Crosby Road South. Waterfoo. Liverpool. M&r5eysidÈ. L22 1RQ. 1.1 Accounting convention The financial statements have bn prepared sn accordance wth the chatTty's gDvemin9 document. the Companies Act 2006, FRS 102 'The Finan¢ial REting Standard applirAble in the UK and Republic of Ireland. and the Charities SORP "Aco)unting and Reporting by Charitiès: Statement of Rocommended Practice ap1¢able to charitiès weparing their a(unIS In acccrdance wth the Financ1 Reporting Standard applicable in the UK and Repubfic Df Ireland IFRS 102).. The charity is a Public Benefit Entity as defined by FRS 102. The charity has tskèn advantage of the psionS in the SORP f(K ¢haritles not to prepaw a ststemenl of cash flows. The finanual statements are prepared in sterfing. vthich is the fijnctional currerry of the tharity. MDn8tary amounis in these ffnanual statements aTe Inded tothe ne8r8St £. The financial ststements have en prèpored under the histotical cost convention. [NKyJffied to irKlude revaluation of freehokl properb8s and to indude invcstrnent properiEs and certain finandal Instruments at fair valuel. The piincipal accounting poliaps adopted are sel tyji below. 1.2 Going ¢one&rn At the time of 8pw)ving the finanual st8tÈmenis. the truslees have a reasonable expÈtttats"on that the ch8rity has adequalg resources to (ontinue in operational existen for the foreseeable futurè. Thus Ihg trustees eontinue to adopt the going o)ncem basis ol aC(Lnting in ptep8ting the financial slatefftents. 1.3 Charitable funds Unrestllcted lunds avalable for use at the threIN)n of thè trustees in furtheran of their rlk*liable objectivE>S. Restricted funds are Subj1 to speciffc ndOnS by donors ur 9[rt0[5 as to how they rnay be used. The purposes and uses uf the restricted fund5 are set cmjt in the Th)tss lo the finanual statements. En¢knvmenl fvnds subied to sp#fiC c(fflditions by donors that the rapital musi maintained by the charity. 1.4 Income Income is recognÉsed when the charity i% legally entiued to itafter any perforrnance u)ndrfions have b8en met. the amounts can be measured reliabty. and tt is probatAe that income will be reLEiVEd. Cash donations ar8 rnISed on rlpL Other donations 8re reu)gnised once the chartty has been notrfied of the donation, unless perfomianrE (x)rltI0ns Tequirg delerral of the amount. Income tax recoverable in relatton to donation5 tEcetved under Grftd ordeeds of (x)venaTrt Is recxyJnssed al the time of Ihe donation. Legacies are CogniSed on receipt or otherwlse tr the charity has notified of an impcnding distribution, the amDunt is known, and ¢IPt is 8xpected. If amounl i5 not knKwn. the legacy is treated as a (x)ntingent asset. Entitlernenl to Ihe giant fundiry is subiect to performaThE condiborts. Irmme is recogntsed in the Stalemetrt of Finaooial Actiwties when the tslated seN¢e5 have been provhyed. In8 reiVed In advant of th058 services being provided is deferrÈd. 10-
Draft Financial Ststem8nts THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policSes (Continued) Inlwest on funds held on depowt is irKluded Wh r1Vable and the amunt can be rnea5ur8d re15ably by the charity. this is nonnalty on notifiLztion of the interest P8KI or payable by the bank. Diwdends are recognised onoe the divKYend has been dedar1 and notificatk)n has been reiVed of th8 dividend due. This is nomially upon notification by our investment advisor of the divKlend yield of the 5nvestrnt wthlio. 1.5 Expenditurè Liabilittes are recognisod as wenditute as swn as there a legal or constructive oNigation Eommitbng th Charity to that expenditure, it 15 rKobable thal a transfèr Oi ar0M1¢ benefits will be required In settlement and the amount of the ObltiOn can be measured rdiabty. Expenditute is accounted for on an 8ttruals basis. Al expenses indudlng 5UPPOrt costs are lOted to the partkJJiar exFenditure heading. Grants pay8ble are payttErrts made lo 1hird parbe5 in the fUrthan of the charitsble objects of the Charity. The u)sts of genting funds caThst of investsnent managemenl u)sts. Th& ujsts of charitable actiwties inrJud8 gtants made, 9)vemance costs and 5UP4)otl costs. 1.6 Tangible fix8d assets Tangible fixed assets are inal measured at cost subsequonty meagured at c4)st or valuatlon, net of depreciation aThJ any impairrnent logses. Depreciation is rened so as to vmte ¢)ff the cost uryaluation of assets te55 thEir residual values over thelr useful IN8S on the following bas Flxiures and fittings 20% on (x)st The gain or ID55 arising on the disposal ol an asset is delemiined as the dtfference between the Sale proceeds and the Farrying value ofthe ass8( and is rnISed in thc statement offinancial actiwties. 1.7 Investment propÈrty Fixed asset investments are inthjty measured at transaLon pri exduding Iran5action ¢xTrsts. and are 5ubsequendy Measured at fwr valuè at each rephxbng date. Changès in fair value a rgcognised in nel incomellexpendilure} for the year. Tran5acliDn o)sts are expensed as incurred. 1.8 Flxed asset inve$tments Fixed asset investrnents ara in"allY measured at trarwction pri( exduding transaction ¢y)sts. and are subs6quènUy measured at fair value at eath reporting date. ChaTraes in fair valug are TecognÈs8d in nel InmllexpendIknrc) forthe year. Transacli)n costs are expensed a5 Incurred. 1.9 Impairment of fixed a55ets At each reporting end date, the thatity wews the oarry.ng arntyjnis ol ils tar1b19 assets to detemiine whether there is any indicatK)n that th)se assets have suffered an impaient bs5. If any such indication eSts. the Trcoverab18 8mwnt of the asset is estitnaled in oriler to delerynine the extent ol the impairment loss lif any). 1.10 Cash and cash equSvalents Cash and cash equivalents inclLHJe cash in hand. deposits he at call with banks, other short-term liquid investments with Original maturities of three rnonlhs or le4 and bank overdrdfts. Bank overdiaft5 are shown within borrowings in current liabilits. 11
Draft Flnancial Statemertts THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Acoounting pollcles (Continued) 1.11 Flnancial instruments The charity has alectgj lo apply the prDvisions of Sn 11 'BaS Finanual Instn(mgnts' and Section 12 'OIMer Finanoal Instnjments IlleS, of FRS 102 to all of it5 finanual instruments. FinancAal instrurnents are rwnkwj in the chawiV5 baLln sheet when the charity bÈeomes party lo the contrdCtua] prov1s1S ol the instrumenl Financial assets and liabili.8$ are offseL Mih the nel amounts presented in the financlal statements, vhjen there is a IBgally enfDrc£ablè ngtlt to set off the recogni*J amounts and Ihere is at) int8ntion to settle on a net basi5 or to iealise the asset and settle the lialylity simullaneousty- Basio financjal assets Basic financral assets, which includ8 dèblors and c8sh and bank balances, are initialty measured al transaction Pr including transaction costs and are subsequently carried at 8mthtse(J c05t using the effective interest melh(Kl unless Ihe arrangement consbttrtes a financsryJ transaction, where the transaction 15 measured at the pr&sent value of the futrJte Tlpt$ ciscounted at 8 matket rate of interest. Finanaal assets dassified as receivable within year are not amtiSed. BaslG financlal liabiliues Basic financial lla.11ties. induding ueditors aThJ bank loans are initially rec(KJnised at transaction Pri unless tho arrangement constitutes a finann9 trdnsacbon. where the debt instNrnEnt is measured at the pres8nt alue of the fvthre payments diunted at a mathet ratè of interest. Finanrial liabilities d8ssified as payab wthin one year 8re not amortised. Debt instruments are subsequwtty carrigj at arrK)Tti58d cosl. usirvJ the effedve interest rste melh¢Jl. Trade creditors a cknlvJations to pay for g¢xKls ¢x services that have been aquired in thp ordinary course of operations from suppliers. Amwnts pardbl8 are da5sffied as cUrrl liabilities rf payment is du8 Within one year or te55. If not, they are wesenled as n[Hffent liabsltie5. Ttade CTeditors ate recognised i"allY at transaction pri and subsequently measured at ayrthL (x)st using the effecbvè interest method. DeregnIfIon of financi81 liabililies Financial liabilthes are dereciyJnised when the ch8riVs tractual obiKdations ex[¢ or aTe discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday entiuement IS [ecnised in the period in whith the employee's seNlces are received. TeTrninatsDn benefls are Tecognised immediately as an expense when the charity is dernonstr8bW committed to ttrrminate the employment ofan empbype orto wovide temiination bsnefjts. 1.13 Leas8s Rentals payable under oper8ting kases. iding 8ny lease intiveS )ved, 8r8 tharged as an expense on a strdight lin6 basis overthe tem of the relev8nt lease. 12-
Draft Flnancial Statements THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2025 Critical accounting estlmales and judgèments In the applic2tion of the charivs accOUntir poldes, the trustees are requiNed to rnake judgernents, estimates and assumptions about Ihe carrying amount of assets and liatslitie5 that are not readily apparent from other source5. The estimates and asso(Mat8d assumptions a ba5cd on historical experience and otherfrdctots that are considered to relevant. Actu result5 may dffler from the58 8Stimat&s. The estimates and underlying assumptions a reeWed on an onwng basis. Revi51ons to accounting estimales are recc4nised in the period in which the estiTnate 15 remsed where the reS1on affects only that period, or in the peri¢)Y of th& reVin atyj futu pericKls wherè the revision affects both QJTEnt and fvttjre periods. Income from donations and legacÈEs Unrestricted funds 2025 Unrestricted funds 2024 Dcffiations and gifts Legacios 284 37.070 37,354 Income from invÈstments Unrestricled Unrestdcted funds funds 2025 2024 R8ntal IncA)me Incom8 from list8d investments 17.500 35,122 17.500 31,803 52,622 49.303 other In¢ome Unrestricted Unrestricted fvnds funds 2025 2024 Bank interest 447 1.832 -13-
Draft Flnanclal Statements THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 PAARCH 2025 Expenditurè on ralslng funds Unrestricted Unrestrictsd fvnds nds 2025 2024 Investment manayement 6.511 7,599 ExndIture on charttsble activrtses Unrestricted Unr•strlcted 2025 2024 Direct costs Sl8ff costs 18,610 18,686 16.610 18.686 GrdwJI fundiwyJ (5[adtreS (see nole 8) 117,5 97,500 SharÈ of support and governance costs1se8 note 91 Support Goveman 210 4,250 4.500 140.718 120.e46 Analysls by furtd Unre51ricted 140.716 120,843 Grants payable Unrestricted Unrestrlcted 2025 2024 Grants to insbtutions: LiverFX)Dl Seafarers Centre 117,500 97,500 14-
Draft Financial Ststèmants THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocat•d to activilies 2025 2024 Other costs Bank charges Governance costs 34 74 4,500 210 4.250 4,6D8 4,460 Analy5efl between: Unrestrict8 4,6D8 4,460 10 Net movement In funds 2025 2024 Thè net movement in funds is stsled afterthargingl{ueditingl: Fe&% payable for the inde%deftt 8xamination of Ihe charivs finanL7al statements 4,250 11 Trustee5 None of the trustees lor any persons (x)nnected with them) re¢xived any remuneration or bengfftts from the charity during the year. 12 Employ$ Th¢ average monthty numb8rof employees during the yearvrd5: 2025 Number 2024 Number Employment Costs 2025 2024 Wages 8nd salaries 18,610 18.686 There were no omployees whose annual rBmuner8tKJn w&s more than £60.tMX). Remuneratlon of key manag•ment peTronnel Key managernent personnel are deemed rnernbers of Ihe senior manement team, which consists of salaries recharged fNom the Liverpool Seafarers Centre for Setaria1 seM(x5 whose totsl remuneration for the year £18,610 (2023- £16,826)- 15-
Draft F]nancial Staternents THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Gains and losses on investments Unrnstrlcted Endovnnent fund5 funds 2025 2025 Total Unrestricted Endowmont funds fijnds 2024 2024 Total 2W25 2024 Gainslllossesl ariwng m: Rèvaluation of InvestmLS Sale of invèstments 1,991 14851 {2.4701 13991 {479) {884} 189 15631 36.182 Ig511 36.371 11,5141 128691 {1.363) 13741 35.231 34.857 14 Taxation Thè d)arity is exempt fron ta¥abon on its ac1]e$ because all its inmme is 8pplied for charilable purposes. 15 Tanglblé Ilxed assèts FLxturps and rrttitw¥ Cost At 1 April 2024 50.0(X) At 31 March 2025 so,000 Depreclatlon and impairrnent At 1 April 2024 49,999 At 31 MaTch 2025 49,999 Carrylng amount Al 31 Matth 2025 Al 31 March 2024 16-
Draft Financial Statements THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Investment property 2025 Fairvalu8 At l April 2024 and 31 March 2025 490.000 The freehold property was walued al 31 March 2022 on an open TTJ8rkel basis by Char5 Parker Benneti, Chartered Surveyors, th? are independent valuers and surveyors in the surn of £980.000 for the whole building. The propety is owned equal by the "Mi8sion" and The Apostleshlp of the Sea ILiverFooll. Accordingly the vahje sho%*n in the finana81 statements ÈS £41,(M)0. The historical c3)st ofthe freehold property was £421,504 {2022 £421.504}. 17 Fixed asset investments Listed invèstmonts Cost or valuation Al 1 April 2024 Additions Valuation changes Di5pJsals 1,040,491 141.579 (791 (253,8241 At 31 March 2025 928.157 Carrying amount Al 31 March 2025 928,167 At 31 Mardl 2024 1,040.491 1B Debtors 2025 2024 Amounts falllng due wtthln one year. other d8btors 3,508 2,308 19 Cred5tors: amounts falling due within one year 2025 2024 Other creditors Acuuals and deferred income 95.425 44.350 126.177 88.750 139.775 214,927 17-
Draft Financlal Statemènts THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCtAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Endowment funds Endowrnent funds represent assets which must be held Ferrmncnty by the charity. In(x)me attsing on the endowmentfund5 can be used in accordan wth the objects oflhe charTty and is indUd as unrestricted income. Any caprtal gains or losses arisirKJ on Ihe assets form part oftho éund. At 1 Aprfl 2024 Transfers Gains and At 31 March losses 2025 Pernianent endowments 1.114.645 12.289 12.8f91 1.124,065 Pravlous yèar.. At 1 April 2023 Tran5fErs Gains and At 31 March losses 2024 Pennanent endowments Endowment Fund 1.080.714 11.3001 35.231 1.114.645 21 Unrestricted funds The unr8strLted funds of the charity comwise Ihe uTr8xpended balan5 of dtsnations and grants whith are not subject to specffic CondOn5 by dcmrs and grdntor5 as to how they may be used. These include dgnaj furth which have been set de out of unr85trictèd fijnds by the trLths for spfiC purposes. At 1 April 2024 Incoming resource5 Rasources expended TrdnsfEf5 Galns and At 31 March losses 2025 General funds 29J,966 53.069 1147227) 112,2891 1.508 195.025 PrEViOUS year: At 1 Aprll 2023 Incoming Resoure•s Transfers resoue$ expènded Gains and At 31 March ID$ses 2024 General funds 338,793 88,489 {128242) (3741 299.966 18-
Draft Flnanclal Statemènts THE MERSEY MISSION TO SEAFARERS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Analy515 of neta5sets between fund5 Unr¢5trirted Endowment lunds tunds 2025 2025 Total 2025 At 31 March 2025: Tan9'".bl& assets Investsment propthes Investments Current assetsllliabifities) 490.000 618,395 15.670 49D,000 928,167 199,0781 309.772 (114.7481 195.(r25 1.124,5 1,319,090 UnrBStrlcted Endowmont funds funds 2024 2024 Total 2024 At 31 March 2024: Taroible assets Investment propertiss Investments Current a&%etsl{liabiltbesl 4,000 622,426 2,219 490.000 1,040,491 1115,881} 418,065 1118,1001 299.966 1.114,645 1,414.611 23 Related party transactions There were no disclosable related partytr8rwJtc%)s durlng the ye8r12024- none). 19-