2021-03-31-accounts - Sailors' Children's Society

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Chairman's Report	Pg6
Chief Executive Owcer's Report	Pg7
Trustees' Report	Pg8—17
Independent Auditors' Report	Pg 18-21
Accounts Year Ended 31stMarch 2021	Pg 22-34

		31.03.2021	Benchmark
UK equity		20.596	37.5Yo
Overseas equity		36.4SS	30.0%i
Fixed interest		17.4SS	17.5yo
Alternative	investment	22.2SS	5.0%i
UK property		O.ONi	5.09f
Cash		3.5%i	5.0%

				Un-restricted	Restricted	Designated	Total	Total
				Funds	Funds	Funds	2021	2020
				E	E	E	E	E
income and endowments			from:
Donations and legacies				223,855	619,563		843,418	519,230
Activities for generating		funds		35,997			35,997	117,797
Investments				77,215			77,215	78,000
Total				337,068	619,563		956,631	715,027
Expenditure on:
Raising funds
Fundraising and other costs				92.618			92,618	127,805
Investment management			costs	15,678			15,678	16,913
Charitable activities
Direct costs				163,833	645,248	57,176	866,257	686,568
Support costs				14,400			14,400	19,429
Governance costs
Direct costs				3,926			3,926	3,626
Supper'Icos'ts				12,343			12,343	16,652
Total resources expended				302,797	645,248	57,176	1,005,221	870,992
Operating income/(expenditure)				34,270	(25,685)	(57,176)	(48,591)	(155,965)
Transfer to designated	funds
Gain/(loss) revaluation	ofinvestment			334,424			334,424	(237,439)
Net income/(expenditure)				368,694	(25,685)	(57,176)	285,833	(393,404)
Other recognised gains/losses
Gain on disposal offixed		assets
Net movement in funds				368,694	(25,685)	(57,176)	285,833	(393,404)
Reconcgiation offunds
Funds balances b/f at 1st			April 2020	1,674,118	203,388	462,390	2,339,896	2,733,300
Fund balances c/f at 31stMarch 2021				2,042,812	177,703	405,214	2,625,729	2,339,896

			Un-restricted	Restricted	Designated	Total	Total
			Funds	Funds	Funds	2020	2019
			E	E	E	E	E
Income and endowments		from:
Donations and legacies			174,258	344,972		519,230	1,022,501
Activities for generating		funds	117,797			117,797	104,724
Investments			78,000			78,000	58,500
Total			370,054	344,972		715p026	tp185p726
Expenditure on:
Raising funds
Fundraising and other costs			127,805			127,805	115,846
Investment management		costs	16,913			16,913	17,898
Charitable activities
Direct costs			242,044	396,914	47,610	686,568	533,612
Support costs			19,428			19,429	11,513
Governance costs
Direct costs			3,626			3,626	5,100
Support costs			16,652			16,652	9,868
Total resources expended			426,468	396,914	47,610	870,992	693,836
Operating income/(expenditure)			(56,413)	(51,942)	(47,610)	(155,965)	491,889
Transfer to designated	funds
Gain/(lass) revaluation	ofinvestment		(237,439)			(237,439)	41,125
Net income/(expenditure)			(293,852)	(51,942)	(47,610)	(393,404)	533,014
Other recognised gains/losses
Gain on disposal offixed		assets					1,221
Net movement in funds			(293,852)	(51,942)	(47,610)	(393,404)	534,235
Reconciliation offunds
Funds balances b/f at 1st April 2019			1,967,970	255,300	510,000	2,733,300	2,199,065
Fund balances c/f at 31stMarch 2020			1,674,118	203,388	462,390	2,339,896	2,733,300

				2021		2020
			Note	6
Fixed assets
Tangible assets			12		201,397		210,070
Investments			13		2,371,121		2,052,435
					2,572,518		2,262,505
Current assets
Debtors			14	210,030		85,536
Cash at bank and in		hand		35,321		85,011
				245,351		170,547
Creditors: amounts		falling due
within one	year
Creditors			15	192,140		93,156
Net current	assets/(liabilities)				53,210		77,391
Net assets					2,625,729		2,339,896
Funds ofthe charity
Restricted funds			19		177,703		203,388
Unrestricted	funds		20		2,042,812		1,674,118
Designated	funds				405,214		462,390
					2,625,729		2,339,896

				2021	2020	Note
				6	6
Cash flows from operating activities:				(199,096)	(160,339)	Table A
Cashflows from investing activities:
Dividends from investments				77,215	78,000
Proceeds from the sale ofproperty, plant	&equipment
Payments to acquire investments					(50,000)
Purchase ofproperty, plant and equipment				(40,562)	(26,908)
Net cash provided by/(used in) investing	activities			36,653	1,092
Change in cash and cash equivalents in the reporting			period	(162,442)	(159,247)
Cash and cash equivalents at the start ofthe reporting			period	52,462	211,709	Table 8
Cash and cash equivalents at the end ofthe		reporting	period	(109,980)	52,462
Table A: Reconciliation ofnet income/(expenditure)			to net cash	flow from operating	activities
				2021	2020
Net income/(expenditure) for the reporting		period		285,833	(393,404)
(as per the statement offinancial activities)
Adjustments for:
Depreciation charges				49,235	47,684
Profit on sale offixed assets
(Gains)/losses on investments				(318,686)	253,792
Dividends, interest and rents from investments				(77,215)	(78,000)
(Increase)/decrease in debtors				(124,494)	(29,530)
Increase/(decrease) in creditors				(13,769)	39,119
Net cash provided by/(used in) operating	activities			(199,096)	(160,339)
Table 8:Analysis ofnet debt, cash and	cash equivalents
				2021	2020
Cash in hand				35,321	85,011
Overdraft facility repayable on demand				(145,301)	(32,549)
Total cash and cash equivalents				(109,980)	52,462

				Un-restricted	Restricted	2021	2020
				E		E
3).Donations	and legacies
Seafarers UK					115,000	115,000	65,000
Trinity House					148,200	148,200	69,200
Royal Navy Royal Marines Charity					253,450	253,450	165,000
Armed Forces	Covenant		Fund		55,000	55,000
Merchant Navy Welfare			Board		30,000	33,502
The Veterans	Foundation						15,000
200 Business Club					17,913	17,913	21,222
Covenants, donations		and trusts		72,788		69,286	90,397
Legacies				151,067		151,067	93,410
Total				223,855	619,563	843,418	519,230
2020				174,258	344,972
				Un-restricted	Restricted	2021	2020
4).Charitable	activities			E	E
Fundraising:
Special events				35,822		35,822	112,946
Continuous activities				175		175	4,581
Total				35,997		35,997	117,797
2020				117,797
				Un-restricted	Restricted	2021	2020
5).Investments						E	E
Absolute return income				77,215		77,215	78,000
Total				77,215		77,215	78,000
2020				78,000

6).Total resources	6).Total resources	expended			Fundraising	Relief to	Governance	2021	2020
Costs directly	allocated to activities					Seafarers'		6
						Families
Grant relief
Monthly		grants to families		Direct		275,787		275,787	236,881
		Clothing	grants	Direct		69,313		69,313	56,355
		Christmas	grants	Di«ct					4,190
		Special	grants	Direct		286,785		286,785	63,934
		Home computers		Direct		15,095		15,095	81,906
Family holiday	scheme
		Holiday	grants	Direct				0	11,380
	CaraVan running		COStS	Dt«ct		85,989		85,989	99,913
Salaries and redundancy				Direct	67,688	125,586		193,274	173,796
Administration	and	event costs		Direct	10,531	7,701	3,926	22,158	70,215
Sub total					78,218	866,257	3,926	948,401	798,571
Support costs	allocated to activities
Basisofa iio cation					33%	33%	30%
General oNce	and	finance		Staff time	14,400	14,400	12,343	41,142	55,508
Total					14,400	14,400	12,343	41,142	55,508
Investment management fees								15,678	16,913
								1,005,221	870,992

	2021	2020
Wages and salaries	194,063	191,698
Social security	13,271	14,240
Pension costs	9,957	9,635
Total	217,291	215,572

	2021	2020
Bank overdraft	(889)
12).Tangible assets
	Caravans	Fixtures 8L	Total
		Fltbngs
Cost (valuation)
At 1st April 2020	331,940	49,278	381,218
Additions	36,802	3,760	40,562
Disposals
At 31st March 2021	368,742	53,038	421,780
Depreciation
At 1stApril 2020	150,923	20,225	171,148
Provided during the year	43,598	5,637	49,235
Disposals
At 31stMarch 2021	194,521	25,862	220,383
Net book value
At 31stMarch 2020	181,017	29,053	210,070
At 31st March 2021	174,221	27,176	201,397

The net book value at 31stMarch 2021repre	sents fixed assets used for:
Direct charitable services
Family holiday scheme	174,221
Other purposes
Administration		27,176

					2021
UK fixed interest					361,384
Alternative investments					526,743
Over seas index		linked			51,669
UK equities					486,313
Other equities					862,095
Cash					82,917
Total					2,371,121
14).Debtors
					2021	2020
Amounts falling due			within one year
Prepayments					6,691	27,676
Prepayments	and accrued income				53,339	57,860
Legacies					150,000
Total debtors					210,030	85,536
15).Creditors
					2021	2020
Bank overdraft					145,301	32,549
Trade creditors					30,469	23,725
Accruals and deferred			income		8,335	27,436
Tax and social	security				4,841	4,762
Other creditors					3,191	4,686
Total creditors					192,137	93,157
The bank overdraft		is repayable		on demand.

17).Charitable commitments
		2021	2020
		E	E
Grants to families		537,341	443,267
Family holiday scheme		85,989	111,293
18).Capital commitments
		2021	2020
Contracted for but not provided	in these accounts	E	E
Outright purchases
Finance leases
Total

	Balance	at 31st	Incoming	Resources	Balance at 31st
	March	2020	resources	expended	March 2021
				E
Seafarers UK			115,000	(115,000)
Trinity House London			148,200	(148,200)
Royal Navy Royal Marines Charity			253,450	(253,450)
Armed Forces Covenant Fund			55,000	(55,000)
Donations
Merchant Navy Welfare Board			30,000	(30,000)
Caravan Appeal &200 Business Club	203,388		17,913	(43,598)	177,703
Total	203,388		619,563	(645,248)	177,703
	Balance	at 31st	Incoming	Resources	Balance at 31st
	March	2019	resources	expended	March 2020
	E			E	E
Seafarers UK			65,000	(65,000)
Trinity House London			69,200	(69,200)
Royal Navy Royal Marines Charity			165,000	(165,000)
Greenwich Hospital			15,000	(15,000)
Donations			9,550	(9550)
190PCAppeal		27,407		(27,407)
Caravan Appeal	227,923		21,222	(45,757)	203,388
Total	255,330		344,972	(396,914)	203,388

20).Unres	tricted	Funds
			Balance at 31st	Income	Expenditure	Transfer	Balance at 31st
			March 2020		E		March 2021
Accumulated	fund:	general	1,674,118	337,068	31,627		2,042,812
		:designated	462,390		(57,176)		405,214
Total			2,136,508	337,068	(25,549)		2,448,026
			Balance at 31st	Income	Expenditure	Transfer	Balance at 31st
			March 2019		E		March 2020
Accumulated	fund:	general	1,967,970	370,054	(663,906)		1,674,118
		:designated	510,000		(47,610)		462,390
Total			2,477,970	370,054	(711,516)		2,136,508

			Unrestricted	Restricted	Designated	Total
Funds balances	at 31st March 2021		funds	funds	funds	Funds
are represented	by:
Tangible fixed	assets		85,829	115,568		201,397
Investments			2,061,121		310,000	2,371,121
Current assets			199,603	62,135	(16,387)	245,351
Creditors due within		one year	(303,741)		111,601	(192,140)
Total			2,042,812	177,703	405,214	2,625,729
			Unrestricted	Restricted	Designated	Total
Funds balances	at 31stMarch 2020		funds	funds	funds	Funds
are represented	by:
Tangible fixed assets			50,904	159,166		210,070
Investments			1,742,435		310,000	2,052,435
Current assets			85,536	44,222	40,789	170,547
Creditors due within		one year	(204,758)		111,601	(93,157)
Total			1,674,117	203,388	462,390	2,339,895
21).Called up share capital