| Officers and Advisors | ||
|---|---|---|
| Report to the Trustees | 2-10 | |
| Auditors Report |
11-13 | |
| Statement of Financial |
Activities | 14 |
| Balance Sheet | 15 | |
| Statement of Cashflows |
16 | |
| Notes to the Financial | Statements | 17-25 |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| Fund | Fund | Funds | Funds | ||
| Note | 2021 | 2021 | 2021 | 2020 | |
| f | F | 6 | 6 | ||
| Incoming and Endowments |
|||||
| Donations and Legacies |
3 | 243,969 | 243,969 | 311,295 | |
| Income from investments | 2 | 32,953 | 187,320 | 220,273 | 156,226 |
| Total Income and Endowments | 32,953 | 431,289 | 464,242 | 467,521 | |
| Expenditure | |||||
| Expenditure on Raising Funds |
|||||
| Porffolio management fees |
496 | 2,817 | 3,313 | (3,688) | |
| Expenditure on Charitable |
Activities | ||||
| General charitable donations |
4&5 | 59,000 | 155,851 | 214,851 | 268,584 |
| Outdoor actiwty bursaries |
6 | 30,000 | 30,000 | 30,000 | |
| Governance costs |
7 | 20,980 | 141,053 | 162,033 | 155,881 |
| 79,980 | 326,904 | 406,884 | 454,465 | ||
| Total Expenditure | 80,476 | 329,721 | 410,197 | 450,777 | |
| Net (Expenditure)/Income | and net | ||||
| Movement in funds before |
Gains | ||||
| and Losses on Investments | (47,523) | 101,568 | 54,045 | 16,744 | |
| Net Gains/(Losses) on investments |
105,847 | 601,689 | 707,536 | (236,497) | |
| Net Movements in Funds |
58,324 | 703,257 | 761,581 | (219,753) | |
| Funds Brought Forward at | |||||
| 1 May 2020 | 336,864 | 5,539,853 | 5,876,717 | 6,096,470 | |
| Funds Carried Forward at |
|||||
| 30 April 2021 | 395,188 | 6,243,110 | 6,638,298 | 5,876,717 |
| Note | 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|---|
| Investments at Market Value |
||||||||
| Stocks and shares | 9 | 6,483,257 | 5,528,354 | |||||
| Portfolio cash | 9 | 42,149 | 61,384 | |||||
| 6,525,406 | 5,589,738 | |||||||
| Current Assets | ||||||||
| Other debtors | 1,500 | 46,264 | ||||||
| Prepayments | 47,889 | 39,100 | ||||||
| Stock | 238 | 238 | ||||||
| Cash at bank— | ||||||||
| Current account | 128,378 | 204,467 | ||||||
| Deposit account | 30,211 | 41,322 | ||||||
| 208,216 | 331,391 | |||||||
| Creditors: amounts | falling | |||||||
| due within one year | ||||||||
| Creditors &other creditors |
10 | 17,431 | 10,888 | |||||
| Shipwrights Company |
General | |||||||
| Fund | 10 | 77,893 | 33,524 | |||||
| 95,324 | 44,412 | |||||||
| Net Current Assets | 112,892 | 286,979 | ||||||
| Total Funds | 6,638,298 | 5,876,717 | ||||||
| Unrestricted Funds |
395,188 | 5,539,853 | ||||||
| Restricted Funds |
6,243,110 | 336,864 | ||||||
| Total Funds | 6,638,298 | 5,876,717 |
| Note | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| E | F | |||||
| Net Cash used in Operating |
Activities | 13 | (786,877) | (19,984) | ||
| Cash Flows from investing | activities | |||||
| Interest and dividends | 220,273 | 156,226 | ||||
| Tax reclaims | ||||||
| Funds withdrawn from investments |
479,404 | (18,566) | ||||
| Net cash provided by investing activities |
699,677 | 137,660 | ||||
| Change in cash and cash |
equivalents | in Year | (87,200) | 117,676 | ||
| Cash and cash equivalents | brought forward |
245,789 | 128,113 | |||
| Cash and cash equivalents | carried forward | 158,589 | 245,789 |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2020 | |||
| 6 | 6 | 6 | ||||
| Listed | investment | dividend | ||||
| Income | 32,927 | 187,174 | 220,101 | 155,235 | ||
| Listed | investment | interest income | 367 | |||
| Income | from cash | held | 26 | 146 | 172 | 624 |
| 32,953 | 187,320 | 220,273 | 156,226 | |||
| Income | from listed | investments | 32,927 | 187,174 | 220,101 | 155,602 |
| Income | from cash | held | 26 | 146 | 172 | 624 |
| 32,953 | 187,320 | 220,273 | 156,226 |
| Donation | s and |
Legacies | |||||
|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||||
| 2021 | 2021 | 2021 | 2020 | ||||
| 6 | 6 | 6 | |||||
| Apprentice | fund donations | 88,121 | 88,121 | 156,880 | |||
| Special donations | 7,205 | 7,205 | 7,710 | ||||
| Planned | giving | 99,328 | 99,328 | 94,105 | |||
| Others | 9,303 | 9,303 | 10,087 | ||||
| E.B.M. Charitable | Trust | 40,000 | 40,000 | 40,000 | |||
| Furlough | grant received | 513 | |||||
| Legacies | 12 | 12 | 2,000 | ||||
| 243,969 | 243,969 | 311,295 |
| 2021f | 2020 | ||
|---|---|---|---|
| Charitable Donations —Regular |
|||
| Annual National Service |
for Seafarers | 500 | 500 |
| Clergy Support Trust | 200 | 200 | |
| George Green's School | 3,000 | 3,000 | |
| Lord Mayor's Appeal | 1,000 | 1,000 | |
| Guildhall Library |
300 | 300 | |
| City of London Sea Cadets Corps | 3,000 | 3,000 | |
| London Area Sea Cadets | (inc. pocket money) | 1,200 | 1,190 |
| HMS Queen Ekzabeth |
2,000 | 2,000 | |
| Sheriffs' and Recorder's | Fund | 500 | 500 |
| Marine Society &Sea Cadets | 13,000 | 13,000 | |
| Sea Scouts | 4,000 | 4,000 | |
| St Paul's Cathedral | 500 | 500 | |
| London Nautical School |
3,000 | 3,000 | |
| Merchant Navy |
100 | 175 | |
| United Guilds' Service | 200 | 200 | |
| Others —less than 6300 | (2) | 500 | 500 |
| 33,000 | 33,065 |
| 4 | General Charitable Donations |
General Charitable Donations |
(Continued) | (Continued) | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| F | ||||||
| Charitable Donations —Responsive |
||||||
| George Green's School. | 2,000 | |||||
| Fellowship Afloat Charitable |
Trust (Fact) | 750 | ||||
| Venture Trust | 1,000 | |||||
| London Nautical School (Funding |
solutions | for schools) | 600 | 500 | ||
| London Nautical School (laptops) |
2,000 | |||||
| Disabled Sailing Association |
1,000 | |||||
| Blind Veterans UK |
1,000 | |||||
| Canalability | 500 | |||||
| Challenge Wales |
1,000 | |||||
| Havant Youth Sail Training |
Scheme | 500 | ||||
| HMS Conway Memorial Appeal |
500 | |||||
| Raybel Charters Community |
500 | |||||
| Sir Thomas Lipton Foundation |
500 | |||||
| The Island Trust | 3,600 | 500 | ||||
| The Wick Society | 500 | |||||
| Sailing Tectona CIC | 750 | |||||
| SSShieldhall | 1,000 | |||||
| Whitby Hidden Impairments |
Support | 1,000 | ||||
| Southend Coastwatch |
1,000 | |||||
| Ocean Youth Trust (North) | 2,000 | |||||
| The AHOY Centre Charity | 2,000 | |||||
| Christian Youth Enterprise |
Saikng Centre | 1,000 | ||||
| Fulham Reach Boat Club | 1,000 | |||||
| Point Lynas National Coastwatch |
Institute | Station | 600 | |||
| Excelsior Trust | 750 | |||||
| Mission to Seafarers Flying |
Angels Campaign | 2,000 | ||||
| Portsmouth Sail Training Trust |
1,000 | |||||
| Roseland Youth Sailing Trust |
1,000 | |||||
| SSFRESHSPRING Society | 800 | |||||
| Sutton Hoo Ships Company | 750 | |||||
| High Tide Foundation | 900 | |||||
| Adventure Under Sail |
2,000 | |||||
| Livery Kitchens Initiative |
1,100 | |||||
| QE2 Activity Centre | 1,500 | |||||
| 24,600 | 14,500 |
| General Char | itable |
Do | nations (Continued) |
||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| f | E | ||||
| Special Donations | |||||
| Local Projects | 75 | 1,075 | |||
| 75 | 1,075 | ||||
| Shipwright Apprentice |
Lectures | 8,871 | |||
| Apprenticeship | fund | 92,176 | 129,902 | ||
| Total General | Chantable | Donations | 149,851 | 187,413 |
| 2021 | 2020 | ||
|---|---|---|---|
| 5 | |||
| Queens Silver Medal Awards | |||
| Infinite Perspective Limited (Course Fee) |
20,400 | ||
| Miss Jennifer Mackay —Queens | Silver Medal Winner | 1,500 | |
| Mr Stirling Taylor —Queens Bronze Medal Winner | 1,000 | ||
| Ms Hannah Orchard —Derek Kimber Medal Winner |
750 | ||
| Mr Billy Hamilton —Most Notable | Endeavour | 500 | |
| Other | 3,629 | ||
| 27,779 |
| 5. | Restricted Grants and |
Donations | (Continued) | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Billmeir Awards | |||||
| Clyde Maritime Project, SVGLENLEE |
5,000 | 5,000 | |||
| Falmouth Manne School |
6,500 | 5,500 | |||
| Coleg Llandrillo | 3,200 | 3,000 | |||
| Lyme Regis Boat Building | Academy | 7,500 | 2,250 | ||
| Paragon Skills |
4,550 | 450 | |||
| International Boat Building Training |
College, Lowerstoft | 2,000 | 1,000 | ||
| International Boat Building Training |
College, Portsmouth | 1,000 | |||
| Marine Skills Centre, Southampton | 1,000 | ||||
| Newcastle University |
1,000 | ||||
| South Devon College | 2,000 | ||||
| Southampton College |
1,250 | ||||
| Cornwall Manna |
750 | ||||
| Plymouth City College |
1,000 | ||||
| Institute of Chartered Shipbrokers |
2,000 | 2,000 | |||
| Pioneer Sailing Trust | 600 | ||||
| Britannia Sailing Trust |
450 | ||||
| Mr Ricky Hobson (Winter |
& Co) | 392 | |||
| 33,000 | 26,392 | ||||
| University Grants |
|||||
| University of Newcastle |
7,000 | 7,000 | |||
| University of Strathclyde |
7,000 | 7,000 | |||
| University of Strathclyde |
—Denholm | bursaries | 6,000 | 6,000 | |
| Unwersity of Strathclyde |
—Abram travel bursary | 5,000 | |||
| University of Southampton |
7,000 | 7,000 | |||
| 32,000 | 27,000 | ||||
| Total Restricted Grants and Donations |
65,000 | 81,171 | |||
| 6. | Outdoor Activity Bursaries | ||||
| 2021 | 2020 | ||||
| E | E | ||||
| Tall Ships Youth Trust Jubilee Sailing Trust |
20,000 5,000 |
20,000 5,000 |
|||
| Ocean Youth Trust (Scotland) | 5,000 | 5,000 | |||
| 30,000 | 30,000 |
| Governance | costs | ||||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||
| 2021 | 2021 | 2021 | 2020 | ||
| 6 | F | 6 | 6 | ||
| Staff costs and pensions | 14,667 | 121,971 | 136,638 | 129,872 | |
| Accountancy | —Non Audit | 5,153 | 10,307 | 15,460 | 15,345 |
| Audit | 3,990 | 3,990 | 3,600 | ||
| Irrecoverable | VAT | 1,031 | 2,859 | 3,890 | 3,789 |
| Sundry expenses | 130 | 1,925 | 2,055 | 3,275 | |
| 20,981 | 141,052 | 162,033 | 155,881 |
| Analysis ofStaff Costs and Remuneration | of Key Management | Personnel | |
|---|---|---|---|
| 2021 | 2020 | ||
| F | |||
| Salaries and wage | 122,863 | 115,761 | |
| Social security costs | 11,039 | 11,775 | |
| Pension costs | 2,736 | 2,335 | |
| 136,638 | 129,871 |
| 9. | Investments | ||||||
|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||||
| 2021 | 2021 | 2021 | 2020 | ||||
| 8 | 6 | 6 | |||||
| Market value at | 1 May | 836,225 | 4,753,513 | 5,589,738 | 6,044,166 | ||
| Funds invested | 2,652,499 | ||||||
| Funds withdrawn | (4,338) | (24,662) | (29,000) | (2,987,870) | |||
| Income reinvested | 32,941 | 187,253 | 220,194 | 156,219 | |||
| Porffolio additions | 284,717 | 1,618,473 | 1,903,190 | 3,965,656 | |||
| Porffoiio disposals | (284,717) | (1,618,473) | (1,903,190) | (3,965,656) | |||
| Porffoiio management | fees paid | 5,526 | 31,412 | 36,938 | (38,779) | ||
| Net investment | gains/(losses) | 105,847 | 601,689 | 707,536 | (236,497) | ||
| Market value at | 30 April | 976,201 | 5,549,205 | 6,525,406 | 5,589,738 | ||
| Listed investments | 969,896 | 5,513,361 | 6,483,257 | 5,528,354 | |||
| Cash | 6,305 | 35,844 | 42,149 | 61,384 | |||
| Market value at | 30 April | 976,201 | 5,549,205 | 6,525,406 | 5,589,738 | ||
| 10. | Creditors and |
Accruals | |||||
| 2021 | 2020 | ||||||
| f | E | ||||||
| Creditors | 77,893 | 33,524 | |||||
| Accruals | 17,431 | 10,888 | |||||
| 95,324 | 44,412 | ||||||
| 11. | Funds | ||||||
| Restricted | Unrestricted | Total | |||||
| 8 | F | 6 | |||||
| At 1 May 2020 | 336,864 | 5,539,853 | 5,876,717 | ||||
| Net incoming resources |
32,953 | 431,289 | 464,242 | ||||
| Net resources expended | (80,476) | (329,721) | (410,197) | ||||
| Revaluation of investments |
105,847 | 601,689 | 707,536 | ||||
| At 30 April 2021 | 395,188 | 6,243,110 | 6,638,298 |
| Reconciliation | of | Net Movem | ent in Funds |
to Net Cash | Flow from Operating |
Activities |
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| 6 | F | |||||
| Net movement | in funds (Before tax) | 54,045 | 16,744 | |||
| Deduct interest | income shown | in investment | activities | (220,273) | (156,226) | |
| (Gains)/Losses | on | investments | (707,536) | 236,497 | ||
| (Increase)/Decrease | in debtors | 35,975 | (47,548) | |||
| (Decrease)/Increase | in creditors | 50,912 | (69,451) | |||
| (786,877) | (19,984) |