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 activ￿lies.
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 ?￿O￿ntIng 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 PrePa￿d 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 SUff￿lent 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 r￿ed 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 be￿en 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 nUm￿r 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