| Page | Page | |||
|---|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, its Trustees and | |||
| Advisers | ||||
| Chair's Statement | ||||
| Trustees' Report | 3 | 15 | ||
| Independent Auditors' |
Report | 16—18 | ||
| Statement ofFinancial | Activities | 19 | ||
| Balance Sheet | 20 | |||
| Notes tothe Financial | Statements | 21 | —33 |
| Sector | Market Value (E) | Sector(%) | |
|---|---|---|---|
| UK Gilts &Fixed Interest | 955325 | 12.496 | |
| International | Fixed Interest | r,033,808 | |
| UKIncome | 841,385 | 18096 | |
| Europe | 455209 | 5.996 | |
| USA | h746.835 | 22.896 | |
| Thematic and Global | 689,428 | 9 096 | |
| South East Asia | 584,6o4 | 7.696 | |
| Japan | 148&062 | ||
| Alternative | Investments | 875,654 | 11.496 |
| Cash | 341,718 | 4.596 | |
| Total | 7,672,027 | 100.096 |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |||
| 2020 | 2020 | 2020 | 2019 | |||
| Notes | 8 | |||||
| INCOME FROM | ||||||
| Donations and grants | 2 | g,368 | 108,821 | 118&189 | 370&592 | |
| Other income | 3 | 325 | 8,501 | 8,826 | 8,63g | |
| Investments | 4 | 163,828 | 163,828 | 194,131 | ||
| TOTAL INCOME | 173,521 | 117,322 | 290&843 | 573&362 | ||
| EXPENDITURE ON: | ||||||
| Raising funds: | ||||||
| Investment management |
40&512 | 40,512 | 42,172 | |||
| Charitable activity; |
||||||
| Grants to institutions | 135059 | 8,501 | 143,560 | 366,587 | ||
| Grants to individuals | 241559 | 24,686 | 266,245 | 265467 | ||
| Direct costs | 124933 | 8400 | 133&333 | 247 746 | ||
| Support costs | 178,009 | 178,009 | 199350 | |||
| TOTAL EXPENDITURE | 720&072 | 41,587 | 761,659 | 1,121,322 | ||
| NET EXPENDITURE BEFORE | ||||||
| INVESTMENT GAINS/(LOSSES) | (546551) | 75&735 | (47o,816) | (547,96o) | ||
| Transfers between | funds | 11,485 | (11,485) | |||
| Net gains/(losses) on |
investments | 12 | (138,297) | (138&297) | 728&523 | |
| NET MOVEMENT IN FUNDS | (673,363) | 64,250 | (609&113) | 180,563 | ||
| RECONCILIATION | OFFUNDS: | |||||
| Total funds brought forward | 8&369,411 | 8,369,411 | 8,188,848 | |||
| TOTAL FUNDS CARRIED | 7,6g6,o48 | 64,250 | 7,760,298 | 8,369,411 | ||
| FORWARD |
| Notes | 2020 | 2019 f |
||||
|---|---|---|---|---|---|---|
| FIXEDASSETS | ||||||
| Tangible assets | 10 | 49,060 | 96,582 | |||
| Investments | 11 | 7,672,o27 | 8,257&011 | |||
| CURRENT ASSETS | 7,721,087 | 8,353,593 | ||||
| Debtors | 12 | 7 185 | 19,726 | |||
| Cash at bank and in | hand | 81,417 | 29,140 | |||
| 88,6oa | 48,866 | |||||
| CREDITORS | ||||||
| Creditors: Amounts | falling due within | |||||
| one year | 13 | (49391) | (33,o48) | |||
| NET CURRENT ASSETS | ||||||
| 39,211 | iS,8&8 | |||||
| NETASSETS | 7,76o,298 | 8,369&411 | ||||
| CHARITY FUNDS | ||||||
| Unrestricted funds |
15 | 7,696,o48 | 8,369,411 | |||
| Restricted funds | 16 | 64,250 | ||||
| TOTAL FUNDS | 7,76o,298 | 8,369,411 |
| INCOME FR | OM DONATIONS AND G | RANTS | |||
|---|---|---|---|---|---|
| Total | Total | ||||
| Funds | Funds | ||||
| 2020 | 2019 | ||||
| Donations Grants |
9,368 108,821 |
1,388 369,204 |
|||
| 118&189 | 370&592 | ||||
| Analysis ofgrant income | |||||
| Seafarers UK | (SAIL) | 118,400 | |||
| Greenwich Hospital (SAIL) |
122,398 | ||||
| Seafarers UK | (SeaFit) | 110,846 | |||
| Seafarers UK | (Fishing Project) | 11,485 | |||
| Seafarers UK | (Anchor Fund) | 50,000 | |||
| Nautilus (COVID-19) |
15&000 | ||||
| Contributions | to shared grants | 23,936 | |||
| Contribution | for Mental Health in Newlyn | 10,000 | |||
| Trinity House | (Room hire) | 8&4oo | 7,56o | ||
| 108821 | 369&204 | ||||
| OTHER INCOME | |||||
| Total | Total | ||||
| Funds | Funds | ||||
| 2020 | 2019 | ||||
| Reimbursement Other income |
for SAILaccommodation | costs | 8,501 325 |
7,000 1,639 |
|
| 8,826 | 8,639 |
| NVESTMENT INCOME | ||||
|---|---|---|---|---|
| Total | Total | |||
| Funds | Funds | |||
| 2020 | 2019 | |||
| Investment income |
163,826 | 193,938 | ||
| Bank interest | 2 | 193 | ||
| 163,828 | 194&131 | |||
| NALYSIS OFGRANTS | ||||
| Total | Total | |||
| Funds | Funds | |||
| 2020 | 2019 | |||
| Grants toinstitutions | ||||
| Seafarers Advice and Information | Line (SAIL) | 125,690 | 342,618 | |
| MCG development programme |
10,000 | 10,000 | ||
| Health Develop Project Costs | ||||
| Nautilus Welfare dementia |
nurse | 6,300 | 12,360 | |
| Miscellaneous | 1,520 | 1459 | ||
| Annual National Service for Seafarers | 50 | 150 | ||
| Total grants to institutions | 143,560 | 366,587 | ||
| Grants to individuals | ||||
| General welfare assistance | 242584 | 227457 | ||
| COVID-19 | 963 | |||
| Physiotherapy (Connect) |
6,079 | 12,400 | ||
| Physiotherapy (Harbourside |
network) | 13,131 | 18,571 | |
| Dreadnought Medical Service —patient travel expenses |
3,488 | 7039 | ||
| Total grants to individuals | 266,245 | 265,467 | ||
| Total grants payable | 409,805 | 632,o54 |
| DIRECT COSTS | ||||
|---|---|---|---|---|
| Total | Total | |||
| Funds | Funds | |||
| 2020 | 2019 | |||
| E | ||||
| Wages and salaries SeaFit project (excluding salary and travel costs) BigWhite Wall online service Trinity House (room hire) Smile dental project Mental Health in Newlyn |
115,183 3&750 6,ooo 8,4oo |
107&459 115977 3,500 7,56o 2,000 11&250 |
||
| 133&333 | 247746 | |||
| SUPPORT COSTS | ||||
| Total | Total | |||
| Funds | Funds | |||
| 2020 | 2019 | |||
| g | ||||
| Wages and salaries Office costs Building running and Publicity costs Legal and professional Travel and subsistence Staffrecruitment and Depreciation Impairment |
maintenance costs training |
27,224 8,75o 20,271 8,779 20 779 453 14774 12&007 47&124 |
103,706 17447 14,501 t»779 8,310 3574 5,58o 9,653 |
|
| Governance costs (Seebelow) |
17,848 | 24,798 | ||
| 178,009 | 199&350 | |||
| Governance costs | ||||
| Auditors' remuneration —audit Accountancy and professional fees Wages and salaries Annual Meeting Trustees' expenses |
10,200 1,440 5199 1,009 |
9,600 5,6o4 3&753 2,049 3792 |
||
| 17,848 | 24,798 |
| 2020 | 2019f | ||
|---|---|---|---|
| Fees payable to the charity's | auditor and its associates for the | ||
| audit ofthe charity's annual | accounts | 10,200 | 9&600 |
| Fees payable to the charity's | auditor and its associates in | ||
| respect ofall other non-audit | services not included above |
1&440 | 2,400 |
| Staffcosts | were as follows: | ||
|---|---|---|---|
| 2020f | 2019 f |
||
| Wages and | salaries | 126,654 | 165,960 |
| Social security costs | 8,593 | 14&334 | |
| Other pension costs | 12&359 | 18,623 | |
| Termination | payments | 16,000 | |
| 147,606 | »4 917 |
| Fixtures | Other | ||||
|---|---|---|---|---|---|
| Ofiice | anti | Computer | fixed | ||
| premises | fittings | equipment | assets | Total | |
| grwebsite f |
|||||
| Cost | |||||
| At 1January2020 | 69,126 | 14,785 | 15,502 | 47&125 | 125,538 |
| Additions | 1&613 | 9997 | 11,610 | ||
| At31December aoao | 69,126 | 16,398 | 25&499 | 47»25 | 158,148 |
| Depreciation and |
|||||
| Impairment | |||||
| At 1January 2020 | 37,38o | 1,874 | 1o&7o3 | 49957 | |
| Charge for the year | 6,352 | 4o99 | 1,556 | 12,007 | |
| Impairment forthe year |
47»24 | 47&124 | |||
| 31December 2020 | 43732 | 5973 | 12,259 | 47,124 | 109,088 |
| Net book value | |||||
| At31December 2020 | 25,394 | 10,425 | 13&24o | 49,060 | |
| At31December 2019 | 31,746 | 12,912 | 4&799 | 47 125 | 96,582 |
| FIXEDASSETINVESTMENTS | |||
|---|---|---|---|
| Listed | |||
| Market value | Securitiesf | Total | |
| At 1January2020 | 8,009,020 | 247,991 | 8,257,011 |
| Additions | 2 799&7o4 | »799 7o4 | |
| Disposals at market value Netlosses Other cash movements |
(3,34o,118) (138,297) |
93,727 | (3,34o,118) (138,297) 93727 |
| At 31December 2020 | 7&33o&3o9 | 341,718 | 7,672,o27 |
| DEBTORS | |||
|---|---|---|---|
| 2020 | 2019 | ||
| Prepayments | and accrued income | 7,185 | 16,832 |
| Other debtors | 2,984 | ||
| 7,85 | 19,726 |
| 2020 | 2019 | |
|---|---|---|
| g | ||
| Accruals | 30&077 | 17,360 |
| Deferred income | 6,515 | 8,4oo |
| Other taxation and social security | 3239 | 2,784 |
| Trade and other creditors | 9,560 | 4504 |
| 49,391 | 33,o48 |
| INANCIAL INSTRUMENTS | |||
|---|---|---|---|
| 2020 | 2019 | ||
| 8 | |||
| Financial assets measured atfair value through | income and | ||
| expenditure | 7,672,o27 | 8,257,011 |
| STATEMENT OF | FUNDS | |||||
|---|---|---|---|---|---|---|
| Balance | Balance at | |||||
| at 1 January |
Transfers | Gains/ | 31 December |
|||
| CURRENT YEAR | soaof | Income f |
Expenditure f |
In/(out) f |
(Losses) | 2020 f |
| Unrestricted funds |
||||||
| General Funds | 8,369,411 | 173&521 | (720,072) | 11,485 | (138,297) | 7,696,048 |
| Restricted funds | ||||||
| Seafarers UK (Anchor fund) |
50,000 | 50,000 | ||||
| Contributions to shared grants |
23,936 | (23,936) | ||||
| Nautilus COVID-tg sUpport |
15,000 | (75o) | 14,250 | |||
| Seafarers UK (Fishing project) |
11,485 | (11,485) | ||||
| Reimbursement for SAILaccommodation |
8,5ot | (8,501) | ||||
| costs | ||||||
| Trinity House (Room hire) |
8,40o | (8,4oo) | ||||
| 117,322 | (41,587) | (11,485) | 64,250 | |||
| Total offluids | 8,369,411 | 290,843 | (761,659) | (138,297) | 7,760&298 |
| Balance | Balance | ||||||
|---|---|---|---|---|---|---|---|
| at 1 | at 31 | ||||||
| January | Transfers | Gains/ | December | ||||
| 2019 | Income | Expenditure | In/(out) | (Losses) | 20.9 | ||
| PRIOR YEAR | E | 2 | |||||
| Unrestricted | funds | ||||||
| General Funds | 8,188,848 | 204,158 | (752,118) | 728&523 | 8&369&411 | ||
| Restricted funds | |||||||
| Seafarers UK(SAIL) | 118,400 | (118,400) | |||||
| Greenwich Hospital (SAIL) |
122,398 | (122,398) | |||||
| Trinity House (Room hire) |
7,56o | (7,56o) | |||||
| Seafarers UK (SeaFit) |
110,846 | (110,846) | |||||
| Mental Health Newlyn |
10,000 | (10,000) | |||||
| 369&204 | (369&204) | ||||||
| Total offunds | 8 118848 | 573&362 | (1,121,322) | 728 523 | 8&369&411 |
| NALYSIS OFNETASSETSBETWE | EN FUNDS | ||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | |
| CURRENT YEAR | 2020f | 2020 | 2020 |
| Tangible fixed assets | 49&060 | 49&060 | |
| Fixed asset investments | 7,672,o27 | 7,672,o27 | |
| Current assets | 24352 | 64,250 | 88,6oa |
| Current liabilities | (49,391) | (44,836) | |
| 7,696,o48 | 64,250 | 7,76o,298 | |
| Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | |
| 2019 | 2019 | 2019 | |
| PRIORYEAR | |||
| Tangible fixed assets | 96,582 | 96,582 | |
| Fixed asset investments | 8,257,011 | 8,257,011 | |
| Current assets | 48,866 | 48,866 | |
| Current liabilities | (33,048) | (33,048) | |
| 8,369,411 | 8,369,411 |
| 19. | COMPARATIVE STATEMENT OF FINANCIAL | ACTIVrHES | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | ||
| 2019 | 2019 | 2019 | ||
| Notes | ||||
| INCOME FROM | ||||
| Donations and grants |
1,388 | 369,204 | 370592 | |
| Other income | 8,639 | 8,639 | ||
| Investments | 194,131 | 194&131 | ||
| TOTAL INCOME | 204,158 | 369,204 | 573,362 | |
| EXPENDITURE ON: | ||||
| Raising funds: | ||||
| Investment management Charitable activity: |
42,172 | 42,172 | ||
| Grants to institutions | 129,289 | 237,298 | 366,587 | |
| Grants to individuals | 265467 | 265&467 | ||
| Direct costs | 115,840 | 131,906 | 247746 | |
| Support costs | 199&350 | 199350 | ||
| TOTAL EXPENDITURE | 752,118 | 369,204 | 1,121,322 | |
| NET EXPENDITURE BEFORE | ||||
| INVESTMENT GAINS/(LOSSES) | (547,960) | (547,960) | ||
| Net gains/Gosses) on investments |
728,523 | 728,523 | ||
| NET MOVEMNT IN FUNDS | 180,563 | 180,563 | ||
| RECONCILIATION OFFUNDS: | ||||
| Total funds brought forward | 8,188,848 | 8,188,848 | ||
| TOTAL FUNDS CARRIED FORWARD | 8&369&411 | 8,369,411 |