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||||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|
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|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|
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||||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|||||||
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|||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|
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|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|
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|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|
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|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|
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|||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|
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|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|
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|||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|
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|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|
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|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|
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|INANCIAL INSTRUMENTS||||
|---|---|---|---|
|||2020|2019|
||||8|
|Financial assets measured atfair value through|income and|||
|expenditure||7,672,o27|8,257,011|
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|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|
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|||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|
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|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|
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|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|