|||Page|| |---|---|---|---| |Trustees' Report|1|to|2| |Independent
Examiner's
Report|||| |Statement ofFinancial Activities|||| |Statement ofFinancial Position|||| |Statement ofCash Flows|||| |Notes to the Statement ofCash Flows|||| |Notes to the Financial Statements|8|to|13| |Detailed Statement ofFinancial Activities||14|| ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||2020|2019| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Total|Total| |||||fund|fund|funds|funds| ||||Notes|E,|||| |INCOME AND ENDOWMENTS||FROM|||||| |Charitable
activities|||||||| |Aged Merchant
Seamen's|Homes|||113,856|4,838|118,694|242,473| |Investment
income||||65||65|367| |Total||||113,921|4,838|118,759|242,840| |EXPENDITURE ON|||||||| |Raising funds||||170,696|156|170,852|155,962| |Net gains on investments|||||||2,466| |NET INCOME/(EXPENDITURE)||||(56,775)|4,6S2|(52,093)|89,344| |RECONCILIATION
OF|FUNDS||||||| |Total funds brought
forward||||1,860,483|305,770|2,166,253|2,076,909| |TOTAL FUNDS CARRIED FORWARD||||1,803,708|310,452|2,114,160|2,166,253| ## ## |||||2020|2019| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total|Total| |||fund|fund|funds|funds| ||Notes|f,|||| |FIXEDASSETS|||||| |Tangible assets|9|2,181,693|310,452|2,492,145|2,520,511| |CURRENT ASSETS|||||| |Debtors|10|8,863||8,863|16,450| |Cash at bank||93,567||93,567|127,536| |||102,430||102,430|143,986| |CREDITORS|||||| |Amounts
falling due within one year|11|(21,080)||(21,080)|(23,070)| |NET CURRENT ASSETS||81,350||81,350|120,916| |TOTAL ASSETSLESSCURRENT|||||| |LIABILITIES||2,263,043|310,452|2,573,495|2,641,427| |CREDITORS|||||| |Amounts
falling due after more than one year|12|(459,335)||(459,335)|(475,174)| |NET ASSETS||1,803,708|310,452|2,114,160|2,166,253| |FUNDS|13||||| |Unrestricted
funds||||1,803,708|1,860,483| |Restricted
funds||||310,452|305,770| |TOTAL FUNDS||||2,114,160|2,166,253| ## |||for the year ended 31|December 2020|| |---|---|---|---|---| ||||2020|2019| |||Notes||| |Cash flows from operating|activities|||| |Cash generated
from operations|||2,797|8,629| |Government
grant adjusted|via creditors||15,839|15,839| |Finance income adjusted
via debtors||||(778)| |Net cash provided
by operating
activities|||18,636|23,690| |Cash flows from investing|activities|||| |Purchase oftangible fixed assets
Transfer ofcurrent asset investments|||(52,670)|(106,817)
166,025| |Interest received|||65|367| |Net cash (used in)/provided|by investing|activities|(52,605)|59,575| |Change
in cash and cash equivalents||in||| |the reporting
period|||(33,969)|83,265| |Cash and cash equivalents|at the|||| |beginning ofthe reporting|period||127,536|44,271| |Cash and cash equivalents|at the end|of||| |the reporting
period|||93,567|127,536| ## |||||2020|2019| |---|---|---|---|---|---| |Net (expenditure)/income|for|the reporting|period (as per the||| |Statement ofFinancial|Activities)|||(52,093)|89,344| |Adjustments
for:|||||| |Depreciation
charges||||81,036|79,337| |Losses on investments|||||(2,466)| |Interest received||||(65)|(367)| |Donations
rec'd via investment||account|||(50,000)| |Government
grants||||(15,839)|(15,839)| |Decrease/(increase)
in debtors||||7,587|(4,829)| |Decrease in creditors||||(17,829)|(86,551)| |Net cash provided
by operations||||2,797|8,629| ## ||At 1/1/20|Cash flow|At 31/12/20| |---|---|---|---| |Net cash|||| |Cash at bank|127,536|(33,969)|93,567| ||127,536|(33,969)|93,567| |Total|127,536|(33,969)|93,567| ## ## ## ## ## ## ## ## |||||||2020|2019| |---|---|---|---|---|---|---|---| |Interest income||||||65|367| |INCOME FROM||CHARITABLE ACTIVITIES|||||| |||||||2020|2019| ||||Activity||||| |Weekly Maintenance||Charge|Aged Merchant|Seamen's|Homes|94,017|83,992| |SDMF income|||Aged Merchant|Seamen's|Homes||69,612| |Grant funding|||Aged Merchant|Seamen's|Homes|8,838|73,030| |Government
grants|||Aged Merchant|Seamen's|Homes|15,839|15,839| |||||||118,694|242,473| |RAISING FUNDS|||||||| |Raising donations|and legacies||||||| |||||||2020|2019| |Services||||||16,630|22,264| |Management||||||26,717|23,138| |Routine Maintenance||||||12,486|8,938| |Cyclical Maintenance||||||26,603|11,910| |Other costs||||||7,380|10,375| |Depreciation||||||81,036|79,337| |||||||170,852|155,962| ## ## ## ## ## ||||Unrestricted|Restricted|Total| |---|---|---|---|---|---| ||||fund|fund|funds| |INCOME AND ENDOWMENTS||FROM|||| |Charitable
activities|||||| |Aged Merchant
Seamen's|Homes||177,311|65,162|242,473| |Investment
incoine|||367||367| |Total|||177,678|65,162|242,840| |EXPENDITURE ON|||||| |Raising funds|||153,925|2,037|155,962| |Net gains on investments|||2,466||2,466| ## ## ||Notes to the Financial Statements
-continued
for the year ended 31December 2020|Notes to the Financial Statements
-continued
for the year ended 31December 2020|Notes to the Financial Statements
-continued
for the year ended 31December 2020|| |---|---|---|---|---| |COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|||| |||Unrestricted|Restricted|Total| |||fund|fund|funds| |NET INCOME||26,219|63,125|89,344| |RECONCILIATION|OF FUNDS|||| |Total funds brought|forward|1,834,264|242,645|2,076,909| |TOTAL FUNDS CARRIED FORWARD||1,860,483|305,770|2,166,253| |FUNDS||||| ## |TANGIBLE FIXEDASSETS|||| |---|---|---|---| ||Housing||| ||properties|Land|Totals| |COST|||| |At 1 January 2020|2,988,289|61,077|3,049,366| |Additions|52,670||52,670| |At 31December 2020|3,040,959|61,077|3,102,036| |DEPRECIATION|||| |At 1 January 2020|528,855||528,855| |Charge for year|81,036||81,036| |At 31 December 2020|609,891||609,891| |NKT BOOK VALUE|||| |At 31December 2020|2,431,068|61,077|2,492,145| |At 31December 2019|2,459,434|61,077|2,520,511| |DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|||| |||2020|2019| |Prepayments
and accrued income||8,863|16,450| ## ## ## |11.|CREDITORS: AMO||UNTS F|ALLING DUE WITHIN ONE|YEAR|||| |---|---|---|---|---|---|---|---|---| |||||||2020||2019| ||W.M.C in Advance|||||813||1,264| ||Accruals and deferred||income|||4,428||5,967| ||Deferred government||grants|||15,839||15,839| |||||||21,080||23,070| |12.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE||||THAN ONE|YEAR||| |||||||2020||2019| ||Deferred government|grants||||459,335||475,174| |13.|MOVEMENT IN FUNDS|||||||| |||||||Net||| |||||||movement||At| ||||||At 1/1/20|in funds||31/12/20| ||Unrestricted
funds|||||||| ||General fund||||1,860,4&3|(56,775)||1,803,708| ||Restricted
funds|||||||| ||Major repairs fund||||305,770|4,682||310,452| ||TOTAL FUNDS||||2,166,253|(52,093)||2,114,160| ||Net movement
in funds,||included|in the above are as follows:||||| ||||||Incoming|Resources|'|Movement| ||||||resources|expended||in funds| ||Unrestricted
funds|||||||| ||General fund||||113,921|(170,696)||(56,775)| ||Restricted
funds|||||||| ||Major repairs
fund||||4,838|(156)||4,682| ||TOTAL FUNDS||||118,759|(170,852)||(52,093)| ## ## ## ||||||Net|| |---|---|---|---|---|---|---| ||||||movement|At| |||||At 1/1/19|in funds|31/12/19| |Unrestricted|funds|||||| |General fund||||1,834,264|26,219|1,860,483| |Restricted
funds||||||| |Major repairs|fund|||242,645|63,125|305,770| |TOTAL FUNDS||||2,076,909|89,344|2,166,253| |Comparative|net movement|in funds, included|in the above are as follows:|||| ||||Incoming|Resources|Gains and|Movement| ||||resources|expended|losses|in funds| |Unrestricted|funds|||||| |General fund|||177,678|(153,925)|2,466|26,219| |Restricted funds||||||| |Major repairs|fund||65,162|(2,037)||63,125| |TOTAL FUNDS|||242,840|(155,962)|2,466|89,344| ||||Net|| |---|---|---|---|---| ||||movement|At| |||At I/1/19|in funds|31/12/20| |Unrestricted|funds|||| |General fund||1,834,264|(30,556)|1,803,708| |Restricted
funds||||| |Major repairs|fund|242,645|67,807|310,452| |TOTAL FUNDS||2,076,909|37,251|2,114,160| ## ## ## |||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---| |||resources|expended|losses|in funds| |Unrestricted|funds||||| |General fund||291,599|(324,621)|2,466|(30,556)| |Restricted
funds|||||| |Major repairs|fund|70,000|(2,193)||67,807| |TOTAL FUNDS||361„599|(326,814)|2,466|37,251| ## ##