REGISTERED COMPANY NUMBER: IM1153719 (England and Wale5) REGISTERED CHARtTY TriUMBER.. 226072 rt of the TntteS and Financial Staternettts for the Year Ended 31 December2024 I Shi bTokeTh B¢nevolent Swi DJH Audit Limited Pacific CharDt*rs 11-13 Victoria Street Liverwl L25QQ
Li ools Con for the r 2024 Pag¢ R¢p(rft of the Tru#e¢s Reportof the Independent Audi 7 to 10 StatemeofFI11¢i Activities li Bala1¢ Sbeet 12 Nots8 to the Fin¥ncial state1llts 13 to 20 Dctailtd Statem¢Dt of Fwancial ActivitRs 21 to 22
Liv ools brOkS Benevolent Soci¢ Reference and Admillistrati D for the Y¢aT Ended 31 December 2024 TRUSTEFS M NoTddahl I Robinson K M Dixon G Hartley J I McGuffie J P Russell C Turner J M Wiegand T L Wiegand COMPAPIY SECRETARY REGisfERED OFFICE 4th Floor. Melbourne Buildings 21 North John Street LIverp] Mer5ey5id¢ L2 SQU REGlStERED COMPANY r4UMBER 00153719 (England atKI Wale5) REGISTERED CHARfTY NUMBER 226072 AUDITOR DJH Audit Limited Pacific Chambers 11-13 Vidoria Str¢ Livupth)I L25 SOLICITORS Weigbmans LLP 100 Old Hall Strert Liv¢wl 13 9QJ INVESTMENT ADVISERS Evelyn PartDer5 Roya] Liver Building Pier Head Livewl L3 INY Page I
Li rthe 202 The Council of maascInent of Livewl Sbipbrokers Benevolfflt Society Itwrdte41 who also trues and directOf5 of the charity for the pUlpS of the Act 2(, have tal plosutt ill presenting their 130tF Anll1 Rert a1 Accouots for the year ettded 31 2024. Th¢ tntses have aik>pted th¢ provisions of the StateEnent 0fRecomme Practice (SORP) applicabl¢ to chari¢i&s pr¢pATtDg thir x¢(wnts in rd¢¢ with the Finwial Rorting Stsndard Applicable the UK and Republ1¢ of IrelaTrJ (FRS 102) (eff¢ctive l Jaary 2015) Icharities SORP IFRS 102)). the Fina17 Reportsog StaD(kard applicable in the UK Rwblic of Ireland IFRS 102) and th¢ Compalli¢s kn 2(Th. Governlng docwThe4t The Society is governed in its activities by & Menmxthum a1 ArfKle8 orAsl81m) adopt¢d on the 12 Febnmry 1919, as annded by thE adoption of the S1 R¢wlutiiw ¢d on 3 June 1970. a1 is a nanY limited by guarante4 not havin8 sharr wiial. Recrufitment and appolnthwnt of Hew ¢rwt Trustees may app)it)t a Member * any time, thr)g the c(Hrsc of the ycar. to the Counci] of Mw¢rr4 homrver that menjber nm1 then seek re-eltctioti at the A[Ual Meeting. At tacb AGM. approximately one thiid of ibe DMbers of t CoutKiI of ManagatKth 18Th and bOnIe eitble for Te-elicTrTh dyndent upon the date of their last electioll orre-electio Mr Allan Seedh0 is cwrntiy the So¢ieiY8 PffsidellL In this capacity, IneetiD8s of the Council of Mallageme aTMI the Fitiatiee WE¢0tICe of tr£ &Kiety. H¢ is a]so responsibl¢ for instDJcling the The Societys Se¢retary is Viorel Raducanescr4 who is thc SOCIe8 oÉJty ar1ed wff niember. The S¢(trtary is reswnsible for the day to day tuDtittig aDd mattagettt ofthe Societyand liaiymg with beneficiaries outside a8ettcAes and instittrtioDs. The Society ergloys no other staff bw OccasionlY the Society employes eo]]sultants. as and whEn Articles of A&slatiO Inductfion and traiDirtg of DeTF trnstee5 Newly appointed tswte¢s r¢c¢iv¢ a Cktalr0. a) a brief history of th¢ Soci¢ty' b) a (y)pyofthe MemLrnduma]M] Articles of Ass(Kialioll" c) a copy ofthe tStreet Annual Report and accoull d) an explanationof the matter in wbich the Society is strwDr4' e) an cxplattation of the mantttt iAwhidt deeisi0Tr8 are rlcl a1 thc ui*riaw¢d to those decisions, the policies of the Society regardiDg Equal Opmmities aTMI CoDfiirts of IDteres4 to with the Mission Statemcntof th¢ So¢iety. Newly appointed tn¢¢$ will then also b¢ imited to attend the S(Kietys offKes for an itykntion nKetin8, with the Secretary aDJ or molr lotJg.serving trustrffj dwiug vthich atty additiottl tr&ittitt8 9% be required ean I P88e 2
Liv ool Shi brokers B oft r202 STRucfuRL GOVERNANCE AND MANAGEMENr OrgaDlsatl•nal structure Subscriptions remain ththnplsiti¢e 1894 * £1.05 (a peraDTknU Menkn& VAW) Y an allal £1.05. are eli111e to attend AllDU and Extiwrthw (kne[ Meetings and have a vote thri Mernbers self.rnminaknl to siiiwt the &xiety up to of£l.00 (one pound) in the event of the Society b¢ing wound ond having oUtstaDJl debts. It is this. aT&I only th wbiclk delineates t1 from sub5cribcts aod Memb¢TS endure no fith obligatioLs or coioy Th) fiJrth¢r privilege& From WAthiD tbe ratsks of the ar¢ drawn the of the Coullcll of manag¢ll aK tF¢ legal ttsees of the ¢knity aod Dir¢¢torsofthe Conjpany. Mr RadU $Cetary, also pxts a8 tte&4Jrtt of socirty tTr¢ tswstee8 delegate tbe day.ttrthy ageDnI of the dwity to hi Dectsiom on the policies of the MKiety as all decisioDS wh&¢b nteTially affect the s0¢ietyE¢mairA in the had$ of the and nle ot one of the re8ul8r c1] r)f nKetiDgs. Th¢ sCetty rok wtthin the society As app]y the aweed Lyitcria order to rnake an inttial of needs follomryng Clact wtth a potential benefitiary havc nHde an application f(w assistancc, ID (kn to Te((MEnd to the Council of Management tbe kvel8 of assIstae vA]icb may b¢ offtrd tn additio th¢ ass¢sses the Incoming annual rell frorn cxisting beneficiaries to e0$ tlKir cirCUL have altered so as to exclude them fro]n qua]ifying for 8WW(Kt and provides the Coullcll of a rttae lirt of potential beneficiaries tO8eth¢r witb the suggested level of IAlthI#1 &ssislallce for tt¢ coming y¢ar. Once the Council of MaD4eJn¢nt ve agrccd on those chattges the secreratys role as to aclion thes¢ thisioDS and he Trs limited powers of dis¢retÉon iti rnatte. He is also responsibk fot the d&y.daY athinistrativ¢ for mthiioriDg tbe fiDattcial markets. reportingto both a Fioartt subcommittee oftrustKs suErf¢qu¢nty ro thCouDcii 0fMsetitst The tmes have a duty to identify ar#1 review the risks to which tk clwtiy is expMI alld to Bll &ppIvpri* ¢ontrols are in place to provide re4soDabk tigaLt fra1 and error. Pag¢ 3
evolent YearEnded 31 Liverpool S]ripbrokers Benevolent S(Ki¢ty Incorpornte¢ elDafter refeEred to as Ihe so¢i¢ty', is a register•J Charity. the objectives ofwbich are containedwithin the Society5 MernoTan(hllTh TIare. To provide reliefdwillg behaviow by fttstly to 4Jesttvin8 aDd nece&sitow pe15 vtho hawt b¢ell of the Soci¢ty and th¢ir wiv&% aThl fa111¢& and ne¢vJitow widows of dtceased all. Secondty. to tErSODS who have al aTkyttme been elygcd inthe business of thpbrokers alld lor shipowneE8 or bleSSeS dir¢oly connethed therewit eitlKr &spr1rXpa]$. rllalla orckrical irLthe City or Port of L4VeO01. iticluding of tF¢ Iivwl Slwing Staffs, A&so¢iation notbeing at tbe time of the grnit of the Societywkn ate. in the cpinion of th¢ CouB¢iL in need There have been no 181 cbanges to the obj'ects of the kniety Lf its wli¢y towinls those objects stnce the last In exercising their powets duties the Societys tru5tecs bave shnwn r¢gatd to the guidatKe on public bellefrt i&8ued ar published bythe Charity CA)mmissioL Tbe trELStets believe thai they have con4)letyl their thitics di]igenty altd to the best of their abilitses for the b¢DEfit of the pthlic aNI have also the to theuE for the belleSt of th¢pubiic. TIKte have been Itla1 clwiges to th¢ stakn Iyporwwties Pobcy nor CtillfiÉcts of IntcSt Policy. All thrce of these docutlleDts were re-arai5ed aryj during tl year review. The Soci8 Mi&qioD stateDX the Equd Poli¢y ¥ryl the CoDtitct of Intest Policy docuTtrtS 8r¢ a18b1¢ from the S)¢i¢ty upott reque5L Sigaiflcant acttvltles The Society 5eeEs to improve the qLty of Itfe of its b¢Defi¢iaries by the provision of fiDattcial ti&%istaT vknich t be ge181 or, more rarety, with the particu]aT aimofredThin8 a wific sortll. To this end, the So¢irt$ investments were held ID 8 baknced portfolio which w& placed with Evelytt P#rtrnr8, who also provided the Society with fitiall advice. Essertially the S¢Kietys objeciiYcsar¢ a) lo m&iDtaiD the levels of grant 8%8]s1ce to bcncficiaTiCS kn $sIble, Ed b) to maxillllse the levcl of incomc ge4erafrd by the illvestxtllts NthÈle at tbe sarn¢ ttDW rnintrmsing the risks to the overall capital Valall0 Oyerllll incorn¢ iocreased by£289.770 to £485.458. Overau ¢xpeDditure deu¢asd by £43.645. Takti &ceoullt of the Net gains on investnynts of £204.943. nrtiDcoEt¢ mseby £132.W2 to £497.761. The BalatLCe Sheet i1C85 an increas¢ ID S(KKtys vah dwing the )rar. The Soci¢Ws totsl V8h at the 31 DecemlK 2024 slwied ]DCre of £497,761 ro £7.687J47 (2023: £7.189.586). Rising dividend vahw and in¢ie48¢ ID th¢ value of &1¢$ inYe5ttnent p)rtfolio haye itiwovul the S(Kietys ir&%)Jue and its balanee sheet Ch8rltgble gctlwltles DuriDg thr CD of 2024. a totsl of £49.504 (W23: £79278} disbutsa iu the forni of atsi5taNc to thc Soci¢ty5 bEneficiaries. ailowiDB our b¢ll¢fioiaries a bigb¢r standard of liwing thats they Jni8ht otber wise bav¢ enjoyed. Applicati1) for altae ftom desgrvnig DeClI0u$ are c4)n8iderrd by the CIM]n¢il of MaDageDnL sn accorda¢ with th¢ m13ndm andArttcles of Aslatio The Truses paTd a CIui8thw to Hll belfiCiar1es Decejkn 2024. Fuel were also paid to qualifying beneficiaries at the begintiing of Febrnary2024.
024 allt)Wdnces w¢r¢ n¥de for inflation. The lety shal] continue to pwsu¢ the obje¢ts as 6tat¢d througb the disbursemellt of grdut assistae to neee&4itiw p¢rson5 Wt#) lIfy f the Souety5 assislance. Fll¥ANCtAL REVIEW Rueryes poli¢y The Society's Reserves Poltcy is dicthtedby the Menx)r8th atc11$t 3(GX wl)i¢h retds.. To invest th¢ J18 of the Society llot imm&liately reqIred for its purpos¢s in ol urA>n 6h inYesttTr¢Dts, seawiti¢s OF propety as may kn IbJght fit subje¢t neveEthelets to suth cofylitioThs (if aDy} aod consents (rfany) as Djay for th¢ tiltte being be oriequired bylaw and bi¢ al&) as bpxeiathpTovid&l". Th¢ Societ5 policy ofconthtty nK)nitDrillg the ujathts snd usillg our [r¥¢5 aT¥l th r¢quirf Thill. we Ib)pe. also bear ftuit in the years to come. Dividctul i[w>roV aDd w¢ r¢maiD confid¢nt that the siety a sufficielltly fmancial iwe tIHt will allowu8 to cl11e c1w1 ivitie5 fornw years into the The Sociews Policy toFThr(& lllYe51m is fiuid to DX¢t the of art ever changing makn place. Prof¢s8ioryal inv&theDt advic¢ is ¢nl41 and our brok¢rs have been asknj to provide a pntht and sensible balance th¢ Tnt¢CS. Limiied. of 3rd Floor Pacific cha1)the 11.13 Vieloria Stre£L Lx¥erpL Mew&de. 12 513) wkn wcr¢ apwbillted &s auditors during year. Your attetition is drawn w Not¢ lof th¢ Notes of Fillal81 Ststerne rdating to Ar£oT]riW Em)liCi which Sets out the basis of aCcoting procedure ardl both the ItSlatIO and the [vrn[tion pta¢tices under which these acetrts have been produee It can be seeD from the StsmeDt of Financial Athities that income increasd ftThn £195.688 in 2023 to £485,458 i 2024 . Total expenditu decre&%&l from £236,285 in 223 to £192,640 in 2024. T8kiD8 Ottl of Net gains on iuvestrrtMs of £204,943. netincome ros¢ by £131(p kn £497.761. Thc Society is registered with the Clwity Conmxssiou iti a¢[dance with the televant Acts relating to Cknitabk status alld as such is th)t Itable io tsAation i)ll its Glwitsble aCtsV Tr &)¢iety is atso unable to registK for Valu¢ Addd Tak athd. as sucty the element of our eXd7th vkntch ispaid in VAT unr¢coverable by the Soci¢ty. STATEMETh OF CONFIRMATION the Society Coth tIt all illveslnts Fld bylbe Souery arehekj 1tiacrd the c11 ¢)f Managemenvs powers. the Sociery c01th thatthe meet ityobligati(w with 8pe¢ific TcfercN¢ to: dclays or shortfalls in eth realisatioL8" coDJnutrnents as discloscd in the Note5 of th¢ Firwial Ststellrt. the cffect of rewdluation of fixcd ass¢ts. the So¢i¢ty CODfftr that Th) degre¢ of fmwiai dwlewe is Pled uponany I11dal. ¢oratiOn or donor ibat have a rol¢ inthe affairs of the Society, the Society ¢ODfmns that the aceoullts bave been a1led by HaiDrs Watts Iimit¢4 and thRÉ 4 StateDnt b) d) attdAccounts' the SIety¢onfirn tw b¢wg a ¢orroany limityl by gyarantK kAving share capitsl. the mattets required to be included in the Trus¥s rewL hiv¢ been iwluded ill the Aw)tial Report. th¢ So¢tety that the aUtsts co&Tr)plylx)th with the curmt s#Thrtoryr¢qurr¢me and with the
Liv
ol
for the Ye4rEnded 31 December2024
STATEMENf OF TRUSTEEST RESPONSIBIL]TIL8
Tbe bvsttts {wlK) are also tbe directors of LivertA)ol 1PbrOkers Betrvolettt Soctety Incoryyornted for th¢ pu5¢$ of
company law) are rk for $&feng the awets of the clJaEit8ble c4)rnpany
In 80 f4r es thE trW*es atswe:
. the trust¢¢s b¢ tsken all steps that thEy ol&t to have taken to make theelVeS aware of ally relewt audit
illfomation and to ¢sE4blith that the auditors ate aware of that infLznatIO1L
AUDrroRS
Approved by ordeT of thc board of trste&S on .... ..
. a5 signtrj on itsbelwlf by.
tee
rt ofthe In t Audito rokeES BeDevol t We have audited the fllwieial 5t¥tenKnts of LTveryK)ol Sbipbrokets Belleyolent Society IorpOrated {the clmritable ¢ony0} for th¢ year ended 31 D]ber 2024 wh]"cb Cowi stat¢llnt of FiDtiucial Activities, the Bal¢t Sh¢¢t and not¢5 to th¢ finow1 slatenKrt itKluth"Dg a suw of SI1cal accowthng policies. Thc fitwtcial Teporting fratllv that has been applied tbeir prwation is applicable law and United Kingdom Accoulltillg In owopiTrion the fioawial #atenKnts: give a tn al faw view stste of the charitable ¢(W8tys affairs &8 at 31 December 2024 aod of its incomittg resouttes andapp]ic&tion of resou. 1CludIng its expenditTT¢, foE the yellr then end¢d. . bave beenproperlyprepared in accordall with United Kingdom GenerallyAc£eptyl Accounting Pr&cti¢e' afyi Bas15 for oplRton We conducted our audit in aec4)rdanee with IDtern&tional Standaryb Auditing (UK) (ISAs (UK)) Jud appliubl¢ law. Our respnsibilities utth th(e standard4 are furt dewiw the Alit0 responstbtliti¢8 for th¢ audit of the fKi&l 51aternets section of our rerA)rL We are iodwendent of th¢ ¢lwitable con]pw in a(xordance wtth the ethical r¢qusrrnts that are relevant to ow audii of the finwrial sratements io the UK inc11]ng tbe FRCS Ethical Stathrf and we bave fi]lfilled our other ethical re8pon5ibilities in a¢¢(Kdw these require0). We believe thatthe audit evidence we have d)tsip¢dis sufficient aThl approprA toprovwje a b&is for 00p11110. Based on the work we bav¢ Exrform>L we bave Mt Idelfi any nIar1 Uncerte1 relating to eluts or ditions thftL indiytduftlly or collectively. may east si1fiCant th)ubt ott the clwitable conwtys abi]ity to contittue as A gDitLg concem for a period of at I( fromwln the ruwlla1 statery ar¢ for issue. seclions of tbis re[)[L Other ittfor•th) Th¢ InL5t¢e8 ar¢ responsible for the odw iDformatioL Th¢ other iDformation cortyis¢s th¢ iDformation an the Annw] R¢port, other thall th¢ fjDawial Sta¢¢Trts ¢w R¢w)rt of th¢ l¢rtht Auditors tIr Ow opinion OD tbe fitwicial slattllKllts d(Ks covrr tbe olhex itthnnation and. exw to tbe extent otlThise ¢xp]i¢itly $tat¢d in our report, we do TKbtexwe5s ally fijlln0fassmc collc1u5io thereo In connection with OUT audi¢ of th¢ fuwncial stal¢llrt ijur Tesiwiblty 15 to th¢ oth¢r and, in doing so. consider whets th¢ oth¢r inf¢)rn]atTh is niialty irwnsist¢Dt the finla1 tsteDMts or our knowledge obtained in the aj11 or othThi8e appears kn be MatY Thss¢gd. If identify material ineonsis*Aci¢s or apparent material m1sslatemell are requirryl kn detennine whether this gives rise to a makrial inis5tatcEncnt in the flllatteial stakments th¢llK%efves. l( bosed on the work we bav¢ perfornrf we wnclude that th¢r¢ this reg8t(L Opknitsns OA other matters preserlbed by the CornpaDles Act 20•6 In owop1nii) b&sed on the work uTNlcrtaken ID the coutse of audit Page 7
of tb¢ Inde ool Shi endettt Audito to the M ICDÉ Soci of Inc MAtters on whleh we are required ts repert by exeep150 In the light of the kttowledge and of the charitable Compw aMI its ellvuonment obtained in the COUESC of tr* we have tKJt identified misstatCmEnts in th¢ Rwort ofth¢Tn We have ftothing to report in Test¢rt of following llerS vAKre the Con¥wJi&q Aet 2(M)6 requires to report to you if, in ow optnion: nches not visited by .. or . certai]J disclosure5 of reDwDethn specified by laware )t Etmde" or E bave not rclY¢d all th¢ ithrmtloll artd eXplaItIO4 we require for our8tyJiL L a Strategi¢ Rwt or in pw)arAngthe Rryort of the Thwec& As Gl87td more fiY iti the Ststetnent of TrStee< Respwbilities. the tr[L {who are also the directors of the cIMritsbl¢ cottwany for tk pul[ of company law) re4Jotsible for th¢ PEeparation of the financial statements and for being satisfied that they give a true view. atyj for sucFL internat WDtrol as the trustees determi ts fraudor error. In preparing the financial ststements, the trteeS ate rwibl¢ frr assessitig tbe ch8rit8ble £x)llwaS ability to continue as a going Concer disclosi &$ applic4bl4 Dlltters reIat¢d to goin8 cottcem and using the going conceffj rLO [118¢ altttnthe but do so. Page 8
rt ofthe Inde ent Auditors to the ols brokers Benevolent &)cie Our respDDglblildes for the lldlt of the stt¢meBts obJtiveS are to obtsin r¢&$0[1¢ awrary¢ aimwt ther the fJtwKt81 Slat¢ts a8 a whole aT¢ free from material misstai¢menL theth¢r du¢ ts) fra1 OT ¢ITor. and to iw a R4xt of th¢ ttyiepend¢nt Awlitors that iDclud¢s our opinion. R¢asonabl¢ as5urw is a high level of is not o gwranre¢ that on alit conthcted in accordance with ISAS (UK) wtll ahva detect a matenal nrsstatennt when it exists. Mlsstatents can atise from fraud or error and are CO81dered nwaial 1£ indivyjually or ill the agyegate. they eould reasolY be expected to inllueDce ecottortiic th¢Isio of eE5 taken on the b88is tyenEnts. Jnegularities. inchyiing frau4 ar¢ irLStartts of nOn40n4)]1a with laws aybl [ClatIO0& We desigD Pn)ceduS in litie with our respoJksibiiitie& oulliJKd ab)Ye. to detrrt nuter1 Misststents in respect of rregularitie& including frau¢L The extent to wbich our procethjres are capabk of de¢tiO8 itt¢glt itichNlillg fraud is detailed below. risks of non40Jnpliance with laThE and regulations Telatrd to the acts by tbe nny. lch were contrary to ¥pplicable laws and re8u]&ions &ncludin8 fil we LY}nsid extcnt to which llon4QLnp]iaDce mi8hl have & Materi effecton thB fit)ala1 Statern. We also c(wÉdEred th{ lavrs a]Ml re8ulatiiMJs that bav¢ a direct iTnpaot on the PEeparation of fillanGial 5tatetuellts such thc Cowies Act 2(. We M8¢[envs incentives and (yporiunitie5 for fraudulent llwipulation of the financial 5tatEllrnts (incl178 the risk of oyettide of CODtro15 and d¢tenllined that th¢ PTincipl¢ iisk5 WEre r¢Jat¢d to iDfiat&l gnd svtplu review of the fitwKial statement disclosures to urthd)ing gjpmillg docunentstion. review of any corrwondellce with legal advAwr& and ettquiries oft]MU88tst8lld tIKtt cth ith g0Venw around ackn and p)tett¢i81 Itugatioll alld clain ellquiries with COmpaS staff kn idetitify any iwtances ofnotrcoD4)lI with and regulations testiDg ofj(Mmll]s eValu]tt whethtt there wds eV1th ofbi&s by tl Tn]stees that represented a risk ofJDaterial misstatettknt to fratyj, eva]uatitig thebu#tiess rntionale of sigtiifjcant traTLsactioDs ouL8ide tbe Tr)tJDal coutse of bSin&S urnlertaking detailed substantive te5ÉÈng of lllaterial lteD oDd 8 saryle of other iteEtS eiryous years aod expttted tr roview of thr complia¢ with and effeaiveDess of cothls Despite the tlt i*itig plano>l alld condwted tll accord with ISAS (UK) thae 4n unavoidable risk that )atwial ffji&%tstanent in the filla1]l ststetsLxts may not Ik detected due to Ini linutstiOJLS of the audit and that by th¢ir Y¢ry n&ture, ally such itEtsnces of fiaud or iregulaTity l&ely illvolve Collusio forgery. IllAtiOnal A fiuther dwription of our rcspotsthilities fff the audit of the statetllerrts is loc&ted on the FinarKi41 Reponing Council's websit at vnvw.frQor&uklaloI7I1lIkneL This &scripti] forms pan of Report of the JndeFthntAuditors. Page 9
R ort of the Inde dent Auditor to the Members of LiY¢ ol Shi brokcr5 Fjcncvolent Socic Inco orated Use of my report This report is made solely to the charitable eompan)ts member4 Ls a body. in accordance with Chapter 3 ofpart 16 of the Cornpanies A¢1 2006. My audit work h&s been undertaken 50 that I might state to the charitable companYs m¢mbers those matters l an) required to stste to thern in all auditols rep and fff no other PUTPOSC. To the lIest extent penDitted by law. I do not arc¢pt or wutne responsibility anyolle other than t chaTit2ble company al the tharitable companys members as . forw auditworK for this rEm for the opinions I have fornied. Timothy Cberry, FCCA (Senior Statutory AuditOT) for and on behalf of DJH Audit Litllitrd Pacific Chambers 11-13 Victoria Street LiveTrool t25QQ 25 Septenib¢r 2025 Page 10
ool ets Benevolent Actlvities 31.12.24 31.12.23 Total fijttds INCOME AP4D END0IVmE FROM DoDatiODS attd legaeieg 14 48*318 195.544 Totsl 48S458 195,688 Raising fvuds 191 24,394 2&191 24.394 CharttaNe aethvltks General Dirut costs GTrnts payable 619 131394 79278 116945 49JlJ4 Totsl 192,640 236285 Net 8aiti5 OD imrsttnctsts 406266 NETINCOME 497.761 365,669 RECOY4CILL4TION OF FUNDS 7.189A86 6,823,917 TOTAL FUNDS CARRtED FORWARD 7,087J47 7,189,586
ol Shi rokets BaKvolctrt co 31.1224 Unr¢strict¢d 31.12.23 Total fimd5 FLXED ASSETS Talble assets io li 1,137 7.?10 6,880226 7J44.91Tr7 6.881,$66 D¢bttkrs C&8h bgmk 12 3.214 333.113 IS7271 159.9fA) 336.327 cDoRs Attwunts fal]mg thje Wlthiti one 13 {17J20) (28.307) 144440 308.020 TOTAL ASSETS LESS CilliR LIABILITIES 7.687J47 7,189J86 NET ASSETS 7ffjJ47 7,189,586 15 Uwe3tricted fid8 7,687J47 7.189586 TOTAL VUNDS 7.687J47 7,189,586 subject to th¢ small conwanies regime. alld were sIJ on its beh£ ty. A Se¢dFKJus¢. Tntytee Pa8c 12
. broker# Betrvolent ACCOiJNTJNG POLICIES Ba&S1 of preparfttg tbt fiDrntial rtteJTreDts The financial stat¢ments of the ¢FthritablB COItipany. wbich is a publi¢ Ikwfit ¢ntity FRS 102. bav¢ been in a¢coTdance with the Ctwttie5 SORP (FRS I02),A0llg ara R¢portiog bYChgrjti Stat¢menÉ of Recollnded Pr8Gtice applicable to clwtti¢s prepariDg their awuDts in aCCorde with the Findcial Reporting sta]d[d app]icable ill the UK aryl R¢wbli¢ of Irela1 (FRS 102) {effective l January 2019),. FiDan¢ial RertIng Standard 102 Tr FiDala] Reporti Standard applicable ill the UK and Repub]ic of IrElalld' aud the CoDJpanies Act 2IKJ6. The f]nawial stateDWts have beell pteparvl UJMJer the historical cost cOnVtio tb¢ ¢xceptithi of investhts ¢b are It1 * market vtt1. &4 modified by the Liverpool Shipbrokers Benevoknt Society Iwrporakd Drets the defthition of a public benefft entiry under FRS 102. Assets and liabilities are initthlty at bistorical cc6t or tr8thCtioA vah uDle&8 OtbeNis¢ Ststed in the relevant a11Thgp0lY $). Ineothlng resovrees All illwming rnUrs are includa on the Ststernent of Ftn8rKial A¢tiVitics whEn the chaxity if legally iTrcludes all divid¢nds and int¢r¢st on an accnds basis logeilr with telatrd tsx Credi All illcotue Ile8ourceJ ¢xp¢nded Expelldltse 1$ accouDted for oo an a¢]S basis a1 Iw been classtfioA llder kadings that agsregate all costs related to the ¢ategory. Where ¢osts cantt be dirllY allributed to a partietstsr h¢2ditig, they hav¢ be¢L atlo¢ated to acLivities on abasis c(msistent with the use of resourets. hich reryesents a far all0¢8ti0ti &% folloThs". IWIY• ExpeDdithr¢ ithes VAT vAKr¢ akwllil¢ as not recov¢rable by theCh•Jity. GrtS offered subject kn conditiofys wbich bave t been at the ye4r UMI date are JM)ted &4 a ctittMLiÈtnent Tanglble fixed DepttCliOll is provided at the followll¥d Tates tn order to write offeaeh &%set over its esti11 usethi . 25% thing bai Taxatlon The cknity is exettwt fr0ttkC(>ryoTrti on ttsdArttsble acttvitics. Unrestri¢t¢d can be tted iti accordan¢¢ with the ClthTit objti¥ts at thB di3¢retion ofthe tr8t¢¢8. R¢stricted fimds can only be ed for tiCUts[ Ct pws within the objects of the cTrLarity. Fmrtk eXp1attIOn of the llatte 8ThJ PUTPOS¢ ofe8¢h fimd is I11 it1theS to the fill8101 statements. Page 13
ool ote er2 AccouNfJi4G POIJCIFS. con¢knued Penslox t(bsts other p(t-r¢tir¢•t IKHefits The charitable ¢on¥)any operates a thfintd pension erne. Contftbutions payable to the charitable companS perLsion scTrkme are thar1 to the Slate[r¢ of FitwTKial Activilies ID the p¢riixl to vknicb they rdate. Fixed asset investments are vahd aDTw#lly at nwket Yalué a¢ordw with th¢ ttqUiT¢Uts of th¢ dedwt¢d from th¢ Fevahtation rm ¢achy¢4r. A trall5fLY IS de fro]n the reluatIon rcsffye to the ger*Eai to Tetknt th¢ w>gDise%f 8aills alhd losses CryStatli5TrEJg dtSP05al of rEvalued fi%ed itlvestE The teS wnsider th&t adeqwt¢ [C[S be av8ilabk to fond the ZVitieS of the Chlty f tk foreseeable f¢. The t are of the view tht the awity is a goingc4)ncetrL 31.1224 31.12.23 UK CompaDirs & Ullit Trusts 464476 2914 15928 166,962 25986 2.596 lllt¢rest 485Jl8 195,544 31.1124 31.12.23 Portfo]io nmnagement 2A191 24.394 Pw14 continued...
Benevoleot ial Stste the Year Ettded fithg of adivities (see n(rte Costs (see not 5) 17P46 116945 49,SIH Grants pa3thle 49504 17946 16&449 DIREcfcosTS OF CHARITABLEAcllES 31.1224 31.1223 Stsff costs Bjtes and wattt IDsuraftce Light and heat Telephone Office expenses 39026 428 372 48.829 1.878 338 341 282 19rt74 442 3,459 25J15 411 1267 10.557 1.974 4.038 38.480 1,030 236 Strtsthles Tra1 Exp¢15 LeEt&SOal Fees R¢paws and RetThMIs DelatIOn 204 98999 111.982 GRANTS PAYABLE 31.1224 31.1223 Gyants pyable 49JIM 79278 the yr4r 10 (2023: 17) sepatate tfiCIar1es teceivoj 8t ftomthEaMrity. P8ge 15 continu¢d...
ool Shi toth Net ineomel(expetslith) is stated afts el*twg/(L¥editiug): 31.12.24 31.12.23 10.500 236 2•3 endoj 31 December 2023. 31 D¢¢emb¢r2023. STAFF COSTS 31.1224 31.1223 Wages and sa]ari¢s 32202 39,083 652 39,826 48,829 1h¢ av¢rag¢ monthlynuuther of effjployEe5 duriM8the yEar as follow5: 31.12.24 31.12.23 ¢mploy¢¢ was paid in exL%55 of £60.(Krf) per ill2024. Page 16
l Deeember2 TANGIBLE FIXED ETs Totals At l Janw 2024 a1 31 Decents2024 IIJN 7A16 18.720 DEPRECIATION At l Janw 2024 Charg¢ foryear 17a80 203 196 At 3 1 Decen]bu 224 I191 7J92 ET BOOKVALIJE At31 tk¢¢roixr 2024 1,113 1,137 At 31 Decenkn2O23 1309 31 1.340 ii. Ltstcd At l January 2024 Additioos Dtsposals R¢valuations 880220 lJ64,699 ,•69.796) {231J59) At 31 Deccllkn 2024 7,543,770 NET BOOK VALUE At 31 Decemb¢r2024 7,543,770 At 31 Decen 2023 6.880226 Atthe balance sheet date, irtvestmtth assets held rAts4le the UK totalkd£5.075.987 (21r23: £4.156.788). IL DEBTORS: AMOIJNTS FALLING DUE IvrrHIli YEAR 31.1224 31.12.23 Otherdeb 235 2A54 760 1454 3214 Psge 17
024 13. 31.1224 31.12.23 Trade Creditors Social se¢Etrity alld 9,682 1.105 17J20 17520 17J2 28 J07 14. LEAStNG AGREEMENTS 31.1224 31.12.23 10,925 2,731 10,925 13.656 Between one and five years I356 24,581 Net At 3L.12.24 At 1.1.24 in fjjods 7,189586 497,761 7,687J47 7,189580 497,761 7h87J47 N¢1 Thov¢m¢Dt in fuDds, in the aE•)ve 8r¢ as follows: I0c$ iJtrrutrlcted fMAds G¢ner81 fjjnd 48S458 {19W) 2W43 497,701 TOTAL FUNDS 485458 U9WO) I,943 497,761 Page18
Li r the Year Ended 31 Decetllber2024 15. ComparYeS for mvernent IM funds Net At 31.1223 At 1.1.23 aditt9bell1 UnrestrReted Gcncral fimd 6.753.9K16 7QOII 365.669 7,189.586 6.753M16 70.011 365,669 7,189,586 Unrestricted funds 195.688 {236285) 41260 365,669 195.688 (236285) 4[.266 36S,669 A¢wrent yew 12 months alPrI0rYe8t 12 n¥)ttts coll1ed position is a5 fpllm: Net At 31.12.24 At 1.123 atbushner in fillKIs Generdl fund 6.753.9)6 70.OEI 863.430 7.687,347 TOTkL FUNDS 6.753.906 71.01 I 863.430 7.687J47 are a8 follows". losses in fimds 681.146 (428,925) 611209 863.430 TOTAL FUNDS 681.146 (428.925) 611209 863,430 Pw19 contimked..
t th Fiatla1 S 024 16. ETrIPLOYEE BENEFIT OBLIGATIONS p¢nsion stheme wos £7.624 (2023: £9,094). There were DD contriblon8 outstsndiDg at the yeAr end. 17. I& ULTIMATE CONfROLUNG PARTY Control lies with th¢ ¢11 Page 20
Li ols 2024 31.12.24 31.1123 ¥Dd kde8 Substtiptiolls 140 144 Investment UKCornpallies & Unit Tnty 46Q476 914 1&928 166.962 25.986 2,596 InÉercst 485J18 195,544 Totsi InfoThkng res0(¢3 488458 195.688 Investment mllagemellt eosts Portfolio rnatlagement 26.191 24,394 Wage5 SociAI security Pensiotts Rates and w2t¢r IrJsurdn¢¢ Ligtit and heat Telephone 32202 39.083 652 9,094 1,878 338 7ffj24 428 3n U56 341 282 19,474 442 3,459 25Jl5 411 1.267 10,557 1,974 4.038 38.480 1.030 231 Rent Sulldrics Trav¢1 Ex3 tLgaifftofessional Fees Repairs and Renewab Fixtures and fittings C02wtsrequipment Grants ty individuals 196 49504 79278 148J03 191260 Support costs G•vertsttet tosts Auditor5, remuneration Ac<owitsw and le ftt 10500 10.131 17946 20,631 Pag¢21
ool SILi broke lent ded 24 31.12.24 31.1223 192,640 236,285 Net IncomeJ(expenditstt) before g*iDg 1095 292018 (40,597} Rett reeOpLd gahs axd los R¢alis¢d gain(lo$s¢S) on fix¢d a$ 436002 56.8 E¥et 729.120 16,302 Page 22