Charity registration number.. 243369 The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Annual Report and Financial Statements for the Year Ended 31 December 2020
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Contents Reference and AdministratThie Details Trustees, Report 2104 Independent Examiner's Report Statement of Financial Aclivitps ststement of Financial Activities Balance Sheet Notes to the Financial Ststements 91020
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Reference and Administrative Details Trustfjos Captain S C Healy IMaster} (Chairman} Captain R D Nelson (Deputy Masterl (Deputy Chairman) Captsin R C Shipley Captain L M Colam Captain A J Hogg Captain W J Green Captain T Took Captain M Jordan Captain D J Harkness Captain P F Amiitage Commander A S Collier RNR Captain K A Sykes Csplain M J Alton Captain A C Castle Captsin N GToves Captain R A Coates Captsin A J Hogg Socretary Prfncipal Office Trinity House Broad Chare Newcastle Lbpon Tyne NEI 3DQ Charity Roglstratlon Numbèr 243369 Solicitors OWF LLP Gre81 North House Sandyfford Road Newcastle upon Tyne NE18ND Hay & Kilner 30 Cloth Market Newcastle upon Tyne NE1 1EE Bankers Yorkshire Bank 131 135 Northumbedand Slreel Newcastle upon Tyne NE17AG Independent Examiner Simon Brown BA ACA DChA Chartered Accountants & Statutory Audf(or MHA Tail Walker Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Trustees. Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 0ecember2020. structure. govemance and management Naturo of goveming documont The goveming instrument of the Corporation is a Royal Charter granted by James11 in 1687. Recruitment and appointment of twstoes The Brethren of the Corporation elect a minimum of 12 of their number lo the Board for a pertod of one year in accordance with the Rules and Orders of the Coiporalion, as last amended in 2015. The adminislratson of the Corporalic)n is vested in the Board which at present comprises - 16 elected members from the Brethren. All Board Members musl be the holder of a Brftish Certificate of Competence as Master Iclass 11 or equivalent. Oryanisation•l structura The authority of the Board is delegated lo the Master as Chaiman and Deputy Master as Deputy Chaimian, who are assisted by the Secretsry and elected WaTdens. Work continues on the development of a set of policies. definitions and procedures for the continugd good management of the House. Objactives and actlvitles Objects and aiTms The main activities of the charity are the examination and licensing of Deep Sea Pilots, the relief of poor mariners and their widows, the provision of youth maiilime liaining, the provision of maritime consultancy services, and the upkeep and conservab'on of the ancient listed buildings and the collections they contain. Fundraising disclosuros The charity is required lo report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct fr¢Jm the public follows all guidelines sel out by the Charity Commission and UK law in every respect. Vve respect the priva and contact preferences of all public donors. Publ1¢ bengfit The trustees ¢onfimi that they have referred lo the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activlies. The trustees confimi that they have complied with the requirements gf section 17 of the Charities Act 2011 to have due regard to the public *)enefit guidance published by the Charity Commission for England and Wales.
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Trustees. Report Achievements and performance The year has of course been heavily affected by COVID-19 and the necessary reslriclions imposed on what would nonnally be routine activities. Functions. tours, visits and the Education Programme all shut down during the pandemic. Basic maintenance and security of Trinity House were maintained. but with a reduced staff and limited attendance on sile, with government, local and NHS guidelines incorwrated into all operations. Board and committee meetings continued. bul online, and sound management was maintsined throughout. Our tenants too, weTe similarly affected, bul fortunately continued to meet rent requirements, meaning that our finances were not adversely impaded. Plans are in hand for the post-pandemic era and the resumption of regular activities. Financial roview The net incoming resources of the corporation during 2020 were £58,833 (2019.. £4,964 outgoing resources}. The surplus reported in the current year is due mainly to not having high legal costs as incutred in 2019. Key Managom9nt Personnel The Board of Trustees is elected annually. The Board then elects the Key Management Personnel IKMPI, as noted in the Reference and Administration section. The KMP are responsible for directing, controlling, running and operating the activities of the charity on a day lo day basis and report lo the Board. The remuneration of the KMP is reviewed annually, taking into account the financial situation of the Charity and considering reasonable costs in delivering the management expertise. The Board vole on and agree any uplrft to remuneration. Policy on kpser¥es It is the policy of the Corporation to maintain free funds at a level which equates to al least e1ve months unrestricted expenditure which would be £110,000 - £200.000 depending on amount of Major repairs needed in a year. Trinity House, Newcastle upon Tyne, is a grade 1 ligted building. A prudent level of additional reserves is, therefore, maintained lo cover any unforeseen building repair costs. At the year end free reserves are £191,306 12019.. £131.8841 which is reasonable given the comments above. Going con¢&rn The trustees have prepared a budget and cashflow forecast, including consideration ol the financial impact of COVID-19 and have concluded that thè eharily continues lo be a going concern for the foreseeable future. On that bas18 they have continued to adopt the going concern basis when preparing the financial ststemonts.
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Trustees. Report Statgmont of Trustees. Re8ponslbilitie$ The Iruslees are responsible for preparing the Iruslees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom GeneTally Accepted Accounting Piacticel and applicable18w and regulations. The law applicable lo charities requires the Iruslees to prepare financial statements for each financial year which give a true antj fair view of the slate of affairs of the Charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are reqijired lo.. select suitable ?OntIng policies and then appty them consislently-, observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudenl.. stste whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial slalements., and prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. The Iruslees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports} Reyulalions, and the provisions of the conslilulion. The trustees are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Independent Examlner A resolution to appoint MHA Tail Walker as the Independent Examiner will be made at the Annual General Meeting for the forth-coming year. The annual report was approved by the Iruslees of the charity on behalf by.. .1 and signed on f(s Captai Seuelary ogg Trustee
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Independent Examiner's Report to the trustees of The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne I report to the charity Iruslees on my examination of the accounts of the charity for the year ended 31 December 2020 which are sel out on pages 6 to 20. RgSPgCtive responsibilities of tru8t¢&s and examlner As the Charity's trustees of The Master Pilots And Seamen of the Corporation of the Trinty House, Newcastle upon Tyne you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act'i. I report in resp8Ct of my examination of the The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne's accounts carried out under section 145 of the 2011 Act and in carying out my examinab.on I have followed all the applicable Directions given by the Charity Commission under section 1451511bl of the Act. Independènt examlneVs statemont I have completed my examination. I confirm that no material matters have come to my attentson in connection with the examinats'on giving me cause lo believe that in any material respect.. 1. accounting records were not kept in respect of The Master Pilots And Seamen of the CoTporation of the Trinity House, Newcastle upon Tyne as required by section 130 of the Act,. or 2. the accotjnls do not accord with those re¢ords,' or 3. the accounts do not comply with the accounting requirements concerning the form and eonlenl of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a propor understanding of the accounts lo be reached. Simon Brown BA ACA DChA Chartered Accountants & Statutory Auditor MHA Tail Walker Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS Date.. MHA Tail Walker is a trading name of Tart Walker LLP.
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Statement of Flnancial Activities for the Year Ended 31 December 2020 Unrestri¢ted funds Total 2020 Total 2019 Note In¢om8 and Endowments from.. Donations and legacies Charitable activities Other trading activities Investment income 3,427 158,269 10.405 169 3,427 158,269 10,405 169 1,591 160,615 22,070 817 Total Income 172,270 172,270 185,093 Expenditure on: Raising ftjnds Charitable activities 11691 113,2681 11691 {113,268 12,3281 (187,729 Total Expendrture 1113,4371 {113,437 {190,057 Net movement in funds 58,833 58.833 14,9641 Reconciliation of fund$ Total funds brought foward 532,718 532,718 537.682 Total funds carried forward 17 591,551 591,551 532,718 All of the charity's activities derwe from continuing opeTalions during the above tsvo periods.
The Master Pllots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Statement of Financial Activities for the Year Ended 31 December 2019 Unrestrfcted fund¥ Restrfcted funds Total 2019 Note Income and Endowments from.. Donations and legacies Chalilable aclivib'es other trading activities Investment income 1,591 160,61 S 22,070 817 1,591 160,615 22,070 817 Total income 185,093 185,093 Expenditurg on: Raising funds Charitable aclivitses 12,3281 1786,388) 12,3281 {187,729 11.3411 Total expenditure 1188,7161 1,341 190,0571 Nel movement in funds 13,6231 11,341) 14.964) Reconciliation of funds Total funds brought forward Total funds carried forward 536.341 1,341 537,682 17 532,718 532,718
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne (Registration number: 243369) Balance Sheet as at 31 December 2020 2020 2019 Note Fixed a88ets Tangible assets Current assèts Debtors Cash at bank and in hand 14 400,245 400,834 15 8,667 197,430 8,068 151,125 159,193 206,097 Crgditors: Amounts falllng due withln on• year 16 14,791 27,309 Net current assets 191,306 131,884 Net assets 591,551 532,718 Funds of the charty: Unrestricted income funds Unrestricted funds 591,551 532,718 Total funds 17 591,551 532.718 The financial statements on pages 6 10 20 were approved by the trustees, and authorised for issue on and signed on their behalf by.. Captain Trust ealy I aster} (Chairman) ,k4.I lkn Secretary and Trusteè
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 1 Accountlng polioies Statsment of compliance The financial statements have been prepared in accordance with Accounting and Report"¢ng by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Charities Act 2011. 8a81s of preparation The Master Pilots And Seamen of the Corporation of the Tfinity House, Newcastle upon Tyne meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othewise staled in the relevant accounting policy notes. The functional cuirency is sterling. Exemption from prgpartng a cash flow ststement The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a sh flow statement in these financial statements. Going concèrn The Iruslees have PrePad 8 budget and cashflow forecast and havg concluded that, even with the polenb'al impact of COVID-19, the charity continues to be a going concern for the foreseeable future. On that basis they have cor51inued to adopt the going concern basis when preparing the financial statements. Estimation uncèrtainty and judgem&nt$ The preparation of the financial slalements requires management to make judgements, estimates and assumptions that affect the amounts reported. Management have provided depreciation. prepayments, accruals and other cut-off adjustments. Whilst management believe that these estimates and judgements ar8 accurate, there is every likelihood th8t they will not be exact. These estimates and judgements are continually reviewed and are based on experien and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 1 Accountlng polieies (continued) Income and endowments Voluntary income including donations. grfts. legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with SUfflent reli8bility- Donatlons and lega¢iTes Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grants rncelvable Grants are re¢ognised when the ¢har¢ty has an enlitlemenl to the funds and any conditions linked to the grants have been mel. Where performance conditions are attached lo the grant and are yet lo be mel, the income is fe¢ognised as a liability and included on the balance sheet as deferred income lo be released. Other tradlng activities Income from charitsble trading activity 1$ accounted for when earned. Charitable actfvhles Income from Charitable Activities is rewgnised once the charity has enlillemenl to the resources. r( is certain th81 thè resou$ will be received and the monetary value of incoming resources can be measured with sufficient lIability. Exponditure All expenditure is recognised once there is a legal or constructive obligation lo that expenditure, il is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar cos15 to that category. whe costs cannot be directly attributed lo particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis i)f lime spent, and depreciation charges allocated on the portion of the asset's use. Other SUPPOrt costs are allocated based on the spread of stsff c051s. Raising funds These are costs incurred in attracting voluntsry ineome, the management of investments and those incuffed in trading ath'vilies that Taise funds. Charitable actlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its benefieiaries. 11 includes both costs that can be allocated directly to such aclivibes and those costs of an indirect nature necessary lo support them. Support ¢o$ts Support costs have been allocated to activtty cost categor$ on a basis consislenl with the use of resources. 10
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 1 Accounting policies Icontinuodl Governance costs These Include the costs attributable lo the charitys compliance with eonstilulion81 and ststulory reqvirements, including audit, strategic management and Irusteos's meetings and reimbursed expenses. Gov8rnm8nt grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating erther lo revenue or to assets. Grants relating lo revenue are reeognised in income over the period in which the related Costs are recognised. Grants retaling to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Taxatlon The charity is considered to pass the tests Sel out in Paragraph 1 Schedule 6 of the Finants Act 2010 and therefore it meets the definition of a charitable company for UK corporation tsx purposes. Accordingly, the charity is potentially exempt from laxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exduswely to charitable purposes. Tangible fixed a88ets Individual fixed assets are initially recorded al cost. less any subsequent accumutaled depreciation and subsequent accumulated impairment losses. Dopreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated residual value, over their expected useful economic life as follows.. Assèt cta88 Trinity House Chattels Dgprgciatlon method and rats 2% Slraighl line slralghl line over 10 years Depreciation is not charged on assets under the course of construelion or refurbishment until they are brought fulty into use. The carrying values of tangible red assets are reviewed for impaimienl when events or changes in circumstances indicate the carrying value may not be recoverable. The depreciation policy on buildings is depreciation will be calculated on the cost of the building at a rale of 2% straight line per 8nnum. However, the board will not depreciate the building further once ils carrying value is reduced below £400k. The board believe that the resmdual value of the building will not reduce below £400k, and that all ongoing repairs and maintenance charged lo the S.O.F.A during the period reflect the cost of using the building. 11
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 1 Accountlng pollcles Icontlnuedl Current asset investmgnts Current asset investments are ineluded at the lower of cost and net realisable value I market valLte. Trdde debtors Trade Debtors are amounts due from customers for merchandise sold or services perfomied in the ordinary course of business. Prepayments and accrued income relates lo amounts paid in advance of serviceslgoods being received and income received in advance of good8lservices being provided respeclivety. Ca8h and c88h equivalent8 Cash and cash equivalents comprise cash on hand and call deposits. and other short-lerm hKJhly liquid investments that are readity convertible to a known amount of cash and are subject to an insignificant risk of change In value. Trade creditors Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classrfied as current liabilities if the does not have an unconditional right. at the end of the reporting period, lo defer settlement of the credrtor for at least e1ve months after the reporting date. If there is an unCOnd"0nal right to defer settlement for at least twelve months after the reporting dale, they are presented as non-current liabilities. Fund structure Unrestricted income funds are general funds that are available for use al the Irustees's discretion in furtherance of the objectives of the charity. 12
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 2 Income from donatlons and legacle8 Unrfjstricted funds Total 2020 Total 2019 General Donations and legacies., Donations received Grants, including capital grants,. Govemmenl grants 463 463 1,591 2,964 2,964 3,427 3,427 1,591 3 Income from charltsblg activiti08 Unrestricted lunds Total 2020 Total 2019 General Tiinity House Deep Sea Pilotage Maritime Education 157,104 1,165 157,104 1,165 156,950 1,905 1,760 158,269 158.269 160,615 13
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Flnancial Statements for the Year Ended 31 Decernber 2020 4 Income from othor tradlng actlvStieB UnreBtrfct•d funds Total 2020 Total 2019 G9noral Sale of brochures Functions Associate membership fees House visits Sundry income 391 6,014 3,262 2,150 10.253 1.128 1,004 351 7,922 1,128 1,004 351 7,922 10,405 10,405 22,070 Sundry income includes.. Insurance recoveries of £7.80712019'. £7,712) Other of £11512019-. £2,541). 6 Investment income Unrestricted funds Total 2020 Total 2019 General Interest reeeivable and similar income., Interest feceivable on bank deposits 169 169 817 6 Expendituro on ralslng fund8 al Costs of trading activities Unrostrlctsd fund8 Total 2020 Total 2019 Ggngral Notg Fundraising trading costs., Fundraising 169 169 2,328 2,328 169 169 14
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 7 Exponditurg on Gharitsblè activltigs Activity undertaken directly Actlvlty 8UPPOrt costs Total 2020 Total 2019 Trinity House Charitable Donations Widows Pensions Allocated supt)ort costs Governance costs 48,352 423 3,400 48,352 423 3,400 58,443 2,650 93,656 690 2,400 88,383 2,600 58,443 2,650 52,175 61,093 113,268 187,729 In addition to the expendrture analysed above, there are also governance costs of £2,650 12019 £2,600} which relate direcdy to charitable activities. See note 8 for further details. 8 Analysis of governance and support C08ts Support Costs allocated to charltable activities Other Support costs Govemanco costs Total 2020 Totsl 2019 Stationery, Offi supplies, printing Postages, telephone Sundry expenses including refreshments Legal and professional costs Travelling expenses Computer costs Salaries and warden fees Depreciation - chattels Maritime educalion Marine committee eosts Trustee meeting costs Directors insurance Other professional fee Examination fee 552 810 552 810 271 1,001 315 441 806 1,842 50,729 589 315 441 1.310 19,233 2,219 2,270 55,242 589 2,037 1,842 50,729 589 47 360 1,952 47 360 1,952 150 2,500 2,000 1,825 100 2,500 150 2,500 2,650 58,443 61,093 90,983 15
The Master Pilots And Seamen of the Corporation of the Trlnity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 8 Anatysis of govemance and support Costs Icontinuedl The above support eosts are allocated been the Charitsble ActNilies as.. 2020 2019 Trinity House Deep Sea Pilotage Maritime Education 50% 30,546 6,109 3,055 21,383 61,093 45,492 9,098 4,549 31,844 10% Other 35% 90,983 Governance costs Unrestricted tund8 Total 2020 Total 2019 Ggnoral Independent examiner fees Examination of the financial slalemenls Other feeg paid to examiners Legal fees 2,500 2.500 2,500 100 150 150 2,650 2.650 2,600 9 Net ineomingloutgoing rnsour¢gs Net incomingl{oulgoingl resources for the year include.. 2020 2019 Independent Examination fees Depreciation of fixed assets 2,500 589 2,500 13,753 10 Tru$teg$ romunoration and 9xpgnses Trustees receive remuneration for reasonable costs delivering the management expertise for Trinity House charity. During the year 13 12019.. 161 twslees received remuneration totalling £6,848 12019.. £13,540}. Trustees are reimbursed for reasonable expenses incurred in their role as a twstee. During the year 3 12019.. 71 Iruslees were reimbursed for expenses totalling £66212019". £2,722). At the year end, balances outstsnding to Iru51ees included £Nil {2019.' £4201 owing lo Captain R C Shipley and £1.885 {2019.. £1,904) owing to Captain S C Healy. No trustees have received any other benefrts from the charity during the yeaT. 16
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 11 Staff costs The aggreg81e payroll Costs were as follows.. 2020 2019 Stsff cost8 durfng thg year were: Wages and salaries 44,242 43,842 The monthly average number of persons lincluding senior management team) employed by the charty during the year expressed as full lime equivalents w88 as follows.. 2020 No 2019 Average nUmr of employees No employee received emoluments of more than £60,000 during the year 12 Independent examlngrfs rnmuneration 2020 2019 Examination of the financial ststements 2,500 2,500 Other fees to examinels Under provision prior year 100 13 Taxatlon The Charity is considered to pass the tests set out in Paragraph 1 Schedule 8 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively lo charitable purposes. 17
The Master Pilots And Seamen of the Corporation of the Trinity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 14 Tangible fixed a88ets Land and buSlding8 Chattels Totsl Cost At 1 January 2020 658,198 12,660 670,858 At 31 December2020 658,198 12,660 670.858 Depreciation Al l January 2020 Charge for the year At 31 December 2020 257,982 12,042 270,024 589 589 257.982 12,631 270,613 Net book value Al 31 December 2020 400,216 29 400,245 Al 31 Oecember2019 400.216 618 400,834 15 Debtorn 2020 2019 Trade dobtors PrepayTnents Other debtors 625 8.042 564 7,364 140 8,667 8,068 16 Credltorn: amounts falling due within ong year 2020 2019 Trade creditors VAT payable Accrua15 2,562 6,623 5,606 3,138 3,842 20,329 14,791 27,309 18
The Master Pilots And Seamen of the Corporatlon of the Trinity House, Newcastle upon Tyne Notes to the Financial Ststements for the Year Ended 31 December 2020 17 Funds Balanc• at 31 Decembor 2020 Balanco at I January 2020 Incoming rnsource8 Rosources expendgd Unrestricted funds General Ac¢umulated General Fund 532,718 172,270 113,437 591,551 B4lan¢e at 31 December 2019 Balanco at 1 January 2019 Incoming resources Resources expended Unrestrlcted funds Genernl Accumulated General Fund 536,341 185.093 1188,716) 532,718 Rostrlcted funds Manuscript Restoration Fund 1,341 11,341 Total funds 537.682 185,093 190,057 532,718 19
The Master Pilots And Seamen of the Corporation of the Trlnity House, Newcastle upon Tyne Notes to the Financial Statements for the Year Ended 31 December 2020 18 Analysi$ of ngt assets between funds Unrg$trictgd fund8 General Total fund8 Tangible fixed assets Current assets Current liabilities 400,245 206,097 14,791 400,245 206,087 14,791 Total nel assets 591,551 591,551 Unrestricted funds Totsl funds at31 December 2019 General Tangible fixed assets Current assets Current liabilities 400.834 159,193 27,3091 532,718 400,834 159,193 27,309 Total net assets 532,718 19 Related party transactions There were no related party transactions in the year. 20