## ## |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)|