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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|
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|||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%|
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|||||Note|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|
##
||||Note|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|
##
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|||||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||
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|||||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|
##
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||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.|||
##
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|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|||||||
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