2023-03-31-accounts - Sailors' Children's Society

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(incorporat	ing	Income an	d Expendi	ture	Account)
		Note	Un-restricted	Restricted		Designated	Total	Total
			Funds	Funds		Funds	2023	2022
			f	E		E	E	f
Income and endowments
from:
Donations and	legacies		103,360	376,152			479,512	694,955
Activities for generating			107,214				107,214	124,876
funds
Investments			47,664				47,664	42,847
Total			258,238	376,152			634,390	862,678
Expenditure on:
Raising funds
Fundraising and other costs			123,343				123,343	129,813
Investment management			16,712				16,712	17,265
costs
Charitable activities
Direct costs			117,549	406,965		87,766	612,280	688,088
Support costs			22,367				22,367	13,678
Governance costs
Direct costs			4,252				4,252	4,200
Support costs			19,171				19,171	11,724
Total resources	expended		303,394	406,965		87,766	798,125	864,768
Operating			(45,156)	(30,813)		(87,766)	(163,735)	(2,089)
income/(expenditure)
Transfers				27,628		(27,628)
Gain/(loss) revaluation		of	(143,166)				(143,166)	85,590
investment
Net income/(expenditure)			(188,322)	(3,185)		(115,394)	(306,901)	83,501
Other recognised	gains/losses
Gain on disposal	offixed			22,487			22,487	42,796
assets
Net movement	in funds		(188,322)	19,302		(115,394)	(284,414)	126,297
Reconciliation	offunds
Funds balances	b/fwd at 1st		2,231,994	161,046		358,986	2,752,026	2,625,729
April 2022
Fund balances c/fwd at March 2023		31st	2,043,672	180,348		243,592	2,467,612	2,752,026

			Note	Un-restricted	Restricted	Designated	Designated	Total	Total
				Funds	Funds	Funds		2022	2021
					E		f	E	E
Income and endowments
from:
Donations and legacies			3	243,885	451,070			694,955	843,418
Activities for generating		funds	4	124,876				124,876	35,997
Investments			5	42,847				42 847	77215
Total				411608	451070			862,678	956,631
Expenditure on:
Raising funds
Fundraising and other costs				129,813				129,813	92,618
Investment management				17,265				17,265	15,678
costs
Charitable activities
Direct costs				174,133	467,727		46,228	688,088	866,257
Support costs				13,678				13678	14400
Governance costs
Direct costs				4,200				4,200	3,926
Support costs				11,724				11,724	12,343
Total resources expended				350,813	467,727		46,228	864,768	1,005,221
Operating				60,796	(16,657)	(46,228)		(2,089)	(48,591)
income/(expenditure)
Gain/(loss) revaluation		of		85,590				85,590	334,424
investment
Net income/(expenditure)				146,386	(16,657)	(46,228)		83,501	285,833
Other recognised	gains/losses
Gain on disposal offixed		assets		42,796				42,796
Net movement in	funds			189,182	(16,657)	(46,228)		126,297	285,833
Reconciliation of	funds
Funds balances b/f at 1st April				2,042,812	177,703	405,214		2,625,729	2,339,896
2021
Fund balances c/f	at 31stMarch			2,231,994	161,046	358,986		2,752,026	2,625,729
2022
Page(21 Charity	Number: 224505 A			company limited	by guarantee		registered	no. 159673

			2023	2022		Note
Cash flows from operating activities:			(148,797)	125,728		Table A
Cashflows from investing activities:
Dividends from investments			47,664	42,847
Proceeds from the sale of property, plant &equipment			28,483	48,806
Payments to acquire investments			60,000
Purchase of property, plant and equipment			(107,800)
Net cash provided by/(used in) investing	activities		28,347	91,653
Change in cash and cash equivalents in the reporting			(120,450)	217,381
period
Cash and cash equivalents at the start ofthe reporting			107,401	(109,980)		Table 8
period
Cash and cash equivalents at the end of period	the reporting		(13,049)	107,401
Table A: Reconciliation ofnet income/(expenditure)		to net	cash flow from operating		activities
			2023	2022
			6		6
Net income/(expenditure) for the reporting			(284,414)			126,297
period (as per the statement offinancial
activities)
Adjustments for:
Depreciation charges			53,194			48,881
Profit on sale offixed assets			(22,487)			(42,796)
(Gains)/losses on investments			159,792			(68,329)
Dividend s, interest and rents from investments			(47,664)			(42,847)
Increase/(decrease) in debtors			75,832			45,289
Increase/(decrease)in creditors			(83,050)			59,233
Net cash provided by/(used in) operating activities Table 8:Analysis ofnet debt, cash and cash equivalents			(148,797)			125,728
			2023		2022
Cash in hand			10,362		107,401
Overdraft facility repayable on demand			(23,411)
Total cash and cash equivalents			(13,049)		107,401

offinancial ac	tivities or	balance sh	eet as in	curred.
3).DOnatiOnS and legacies	un- restricted	Restricted	E	2023 E	un- restricted E	Restricted E	2022 E
Seafarers UK		70,000		70,000		70,000	70,000
Trinity House		78,200		78,200		65,935	65,935
Royal Navy Royal Mannes Chanty		165,000		165,000		239,000	239,000
Merchant Navy		5,796		5,796		5,730	5,730
Welfare Board
Fishermen's Mission						30,360	30,360
200 Business Club		15,997		15,997		25,585	25,585
John Landsdown	30,000			30,000
Covenants,	63,088	41,160		104,247	40,515	14,460	54,975
donations and trusts
Legacies	10,272			10,272	203,370		203,370
Total	103,360	376,152		479,512	243,885	451,070	694,955

Notes to the Financial	Statement	s	Year End	ed 31"	March 2023
4). Charitable activities	Unrestricted	f	Restricted f		2023 f	(All	2022 Unrestricted) f
Fundraising:
Special events	103,089				103,089		123,487
Continuous activities	4,125				4,125		1,389
Total	107,214				107,214		124,876
5).Investments Unrestricted		f	Restricted f		2023f		2022 f
Dividends received	47,664				47,664		42,847
Total	47,664				47,664		42,847
6a).Total resources expended Costsdirectlyallocatedto	allocatioo	Fundraising		Reliefto Seafarers Families	Governance	f	2022f
activities
Monthly grants to families	Direct			209,313		209,313	243,388
Clothing grants	Direct			54,880		54,880	63,485
Christmas grants	Direct
Special grants	Direct			69,071		69,071	107,077
Home computers	Direct			13,952		13,952	12,819
Family holiday scheme
Holiday grants	Drrect			12,000		12,000	9,560
Caravan running costs				114,441		114,441	98,153
Salaries and redundancy	Direct		53,587	119,248		172,834	203,635
Administration and event	Direct		47,389	19,374	4,252	71,016	70,307
costs
Sub total			100,976	612,280	4,252	717,508	808,423
Support costs allocated to
activities
Basis ofallocation			35%	35%	30%
General office and finance	Staff		22,367	22,367	19,171	63,905	39,079
	time
Total			22,367	22,367	19,171	63,905	39,079
Investment management						16,712	17,265
fees
						798,125	864,768

				2023	2022
				Number	Number
Fundraising				1.4	1.7
Relief for seafarers'		families		3.0	3.8
Administration				0.4	0.3
Tota I				4.8	5.8
Actual average	monthly		number ofstaff	5.0	7.0

The aggregate	payroll costs in respect ofthese employees	were as follows:
	2023		2022
Wages and Salaries		172,984	204,454
Social security		11,419	13,650
Pension costs		8,463	10,217
Total		192,866	228,322

			2023			2022
Plant	and equipment		2,165			5,969
9).Net incoming resources for the year
This is stated after charging:
			2023			2022
Auditors' remuneration:
Audit			3,500			3,500
Advice
Depreciation			53,194			48,881
10).interest payable		and similar charges
			2023			2022
Bank Overdraft				473		562
11).Tangible assets
			Caravans	Fixtures		Total
				&
				Fittings
	Cost (valuation)
	At 1st April 2022		331,959	53,038		384,997
	Additions		107,183		617	107,800
	Disposals		(37,471)			(37,471)
	At 31st March 2023		401,671	53,655		455,326
	Depreciation
	At 1st April 2022		205,989	32,501		238,490
	Provided during the year		46,810	6,384		53,194
	Disposals		(31,476)			(31,476)
	At 31st March 2023		221,323	38,885		260,208
	Net book value
	At 31st March 2022		125,970	20,537		146,507
	At 31stMarch 2023		180,348	14,770		195,118

11).Tangible assets (continued)	11).Tangible assets (continued)
The net book value at 31st March 2023 represents					fixed assets used for:
				Caravans			Fixturea Fittings	R.		Total
Direct Charitable	Services
Family Holiday Scheme				180,348						180,348
Other Purposes
Administration								14,770			14,770
The Society owns	the freehold	of St Nicholas		Primary		School and Stratten Hall, currently						under	a 99
year peppercorn rent lease to		Hull City Council		signed		10th October 2006. No balance				is	recognised			in
these accounts due to the length ofthe lease				remaining.
12).Investments
								2023
Market value at	1"April 2022						6 2,439,446
Additions
Disposals							(60,000)
Increase/(decrease) in value Market value at31"March		for the year 2023					(159,793) 2,219,653
All the investments	are listed investments		and	can	be	split as follows:
							2023
							6
UK fixed interest								372,998
Alternative investments								396,603
Over seas index	linked							60,815
UK equities								378,598
Other equities								912,486
Cash								98,153
Total							2,219,653
Post year end the	charity has	commenced	transferring				investments	into
lower risk cash deposits.
13).Debtors
								2023	2022
Amounts falling due within ane year
Other debtors								14,585				3,231
Prepayments and	accrued income							74,325				143,934
Legacies												17,575
Total debtors								88,909				164,741

Notes to the Financial Statements	Notes to the Financial Statements	Notes to the Financial Statements	Notes to the Financial Statements	Year Ended 31"March	2023
14).Creditors				2023		2022
Bank overdraft					23,411
Trade creditors					6,280	89,690
Accruals and deferred		income			10,933	8,234
Tax and social security					4,388	5,020
Other creditors					1,418	3,125
Total creditors					46,430	106,069
The bank overdraft	is repayable		on demand.

			2022	2023
Not later than 1year			2,165	2,604
Later than 1year	and not later	than 5	4,330	7,812
years16).Charitable	commitments
			2023	2022
Brants to families			347,217	426,769
Family holiday scheme			126,441	107,713
17).Capital commitments			2023	2022
			6	f
Contracted for but	not provided	in these
accounts
Outright purchases				78,700
Finance leases
Total				78,700

18).Restricted	18).Restricted	Funds	Funds	Funds
The income funds			of the		charity include			restricted		funds comprising				the	following				unexpended
balances	ofdonations			and	grants held to			be applied for specific			purposes:
					Balance at 31st			Incoming		Resources	Dispasal on Fixed				Transfers from					Balance at31st
					March		resources			expended	Assets				Designated Funds					March
					2022															2023
										f		f				f				f
Seafarers UK								70,000		(70,000)
Trinity House Landon								78200		(78200)
Roya I Navy Roya I								165,000		(165,000)
Marines	Charity
Donations								41,160		(41,160)
Merchant Navy Welfare								5,796		(5,796)
Board
Caravan	Appeal &200				161,046			15,997		(46,810)		22,487			27,628					180,348
Business	Club
Total					161,046			376,152		(406,966)		22,487			27,628					180,348
					Balance at		Incoming			Resources	Disposal				Transfers					Balance at
						31e March	Resources			Expended		Assets			from Designated					31"
						2021										Funds				2022
								f		f		f								f
Seafarers	UK							70,000		(70,000)
Trinity House London								65,935		(65,935)
Royal Navy Royal		Marines						239,000		(239,000)
Charity
Fishermen's Mission								30,360		(30,360)
Danations								14,460		(14,460)
Merchant	Navy Welfare							5,730		(5,730)
Board
Caravan	Appeal &	200			177,703			25,585		(42,242)										161,046
Business	Club
Total					177,703		451,070			(467,727)				-				-		161,046
Restricted	funds are		held in		the	main against the purchase ofcaravans						and		released		in	line			with depreciation
charge. Operating		restricted			funds from donations				and 190PC Appeal are used against										grants casts		for	the
families in specific		geographical				areas and for home				computers.	The		200 Business				Club			was launched		in
November	2017 to		raise funds			to replace		part of the existing			fleet of			caravans		fram				when the	Society
celebrates	its 200th anniversary					in 2021. These funds				are then released			in	line with		the		depreciation			charge.

Notes to the Financial	Notes to the Financial	Statements Y	ear Ended 3	1"March	2023
19).Unrestricted
Funds
		Balance at 31st	Income	Expenditor	Transfer	Balance at 31st
				e
		March 2022		6	f	March 2023
Accumulated	fund:	2,231,994	258,238	(446,560)		2,043,672
general
:designated		358,986		(87,766)	(27,628)	243,592
Total		2,590,980	258,238	(534,325)	(27,628)	2,287,264
		Balance at 31st	Income	Expenditu	Transfer	Balance at31st
		March 2021	f	fe		March 2022
				6
Accumulated	fund:	2,042,812	454,404	(265,223)		2,231,994
general
:designated		405,214		(46,228)		358,986
Total		2,448,026	337,068	(25,549)		2,590,980
Funds balances at 31st March represented by:		2023 are	Unrestricted Funds 6	Restricted Funds E	Designated Funds f	Total Fundsf
Tangible fixed	assets		14,770	180,348		195,118
Investments			1,969,653		250,000	2,219,653
Current assets			105,679		(6,408)	99,271
Creditors due	within one		(46,430)			(46,430)
year
Total			2,043,672	180,348	243,592	2,467,612
Funds balances	at31st March	2022 are	Unrestricted Funds	Restricted Funds	Designated Funds	Tota I Funds 6
represented by:			6	6	6
Tangible fixed	assets		20,537	125,970		146,507
Investments			2,129,446		310,000	2,439,446
Current assets			110,380	112,776	48,986	272,142
Creditors due	within one		(28,369)	(77,700)		(106,069)
year
Total			2,231,994	161,046	358,986	2,752,026