| Officers and Advisors | 1-2 | |
|---|---|---|
| Report to the Trustees | 3-11 | |
| Auditors Report |
12-13 | |
| Statement of Financial | Activities | 14 |
| Balance Sheet | 15 | |
| Statement of Cashftows | 16 | |
| Notes to the Financial Statements | 17-25 |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| Fund | Fund | Funds | Funds | ||
| Note | 2022 f |
2022 | 2022 6 |
2021f | |
| Incoming and Endowments | |||||
| Donations and Legacies |
3 | 187,524 | 187,524 | 243,969 | |
| Income from investments | 2 | 33,692 | 191,519 | 225,211 | 220,273 |
| Total Income and Endowments | 33,692 | 379,043 | 412,735 | 464,242 | |
| Expenditure | |||||
| Expenditure on Raising Funds |
|||||
| Porffolio management fees |
516 | 2,927 | 3,443 | 3,313 | |
| Expenditure on Charitable |
Activities | ||||
| General charitable donations |
4&5 | 81,525 | 165,372 | 246,897 | 214,851 |
| Outdoor activity bursaries |
6 | 30,000 | 30,000 | 30,000 | |
| Governance costs |
7 | 25,775 | 150,187 | 175,962 | 162,033 |
| 107,300 | 345,559 | 452,859 | 406,884 | ||
| Total Expenditure | 107,816 | 348,486 | 456,302 | 410,197 | |
| Net (Expenditure)/income | and net | ||||
| Movement in funds before |
Gains | ||||
| and Losses on Investments | (74,124) | 30,557 | (43,567) | 54,045 | |
| Net Gains/(Losses) on investments |
(4,889) | (27,790) | (32,679) | 707,536 | |
| Net Movements in Funds |
(79,013) | 2,767 | (76,246) | 761,581 | |
| Funds Brought Forward at | |||||
| 1 May 2021 | 395,188 | 6,243,110 | 6,638,298 | 5,876,717 | |
| Funds Carried Forward at | |||||
| 30April 2022 | 316,175 | 6,245,877 | 6,562,052 | 6,638,298 |
| Note | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| 6 | E | |||||||
| Investments at Market Value |
||||||||
| Stocks and shares | 9 | 6,570,265 | 6,483,257 | |||||
| Porffolio cash | 9 | 57158 | 42,149 | |||||
| 6,627,423 | 6,525,406 | |||||||
| Current Assets | ||||||||
| Other debtors | 1,500 | |||||||
| Accrued income | 56,908 | 45,789 | ||||||
| Prepayments | 2,100 | |||||||
| Stock | 238 | 238 | ||||||
| Cash at bank— | ||||||||
| Current account | 10,783 | 128,378 | ||||||
| Deposit account | 7,115 | 30,211 | ||||||
| 75,044 | 208,216 | |||||||
| Creditors: amounts | falling | |||||||
| due within one year | ||||||||
| Creditors &other accruals |
10 | 30,218 | 17,431 | |||||
| Shipwrights Company |
General | |||||||
| Fund | 10 | 110,197 | 77,893 | |||||
| 140,415 | 95,324 | |||||||
| Net Current Assets | (65,371) | 112,892 | ||||||
| Total Funds | 6,562,052 | 6,638,298 | ||||||
| Unrestricted Funds |
316,175 | 395,188 | ||||||
| Restricted Funds |
6,245,877 | 6,243,110 | ||||||
| Total Funds | 6,562,052 | 6,638,298 |
| Note | 2022f | 2021 | |||
|---|---|---|---|---|---|
| Net Cash used in Operating Activities |
13 | (231,207) | (79,341) | ||
| Cash Flows from investing | activities | ||||
| Interest and dividends | 225,143 | 220,273 | |||
| Tax reclaims | |||||
| Payments to acquire investments |
(134,186) | (276,367) | |||
| Funds withdrawn from investments |
14,500 | 29,000 | |||
| Net cash provided by investing activities |
105,525 | (27,094) | |||
| Change in cash and cash |
equivalents | in Year | (125,682) | (106,435) | |
| Cash and cash equivalents | brought forward | 200,738 | 307,173 | ||
| Cash and cash equivalents | carried forward | 75,056 | 200,738 |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| 2022 | 2022 | 2022 E |
2021f | |||
| Listed | investment | dividend | ||||
| Income | 33,677 | 191,432 | 225,109 | 220,101 | ||
| Listed | investment | interest income | ||||
| Income | from cash | held | 5 | 29 | 172 | |
| Interest | on tax reclaims | 10 | 58 | |||
| 33,692 | 191,519 | 225,211 | 220,273 |
| Donations and Legacie |
s | ||||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||
| 2022 | 2022 | 2022 | 2021 | ||
| E | 8 | E | 8 | ||
| Apprentice fund donations |
19,375 | 19,375 | 88,121 | ||
| Special donations | 35 | 35 | 7,205 | ||
| Planned giving |
128,114 | 128,114 | 99,328 | ||
| Others | 9,303 | ||||
| E.B.M. Charitable Trust |
40,000 | 40,000 | 40,000 | ||
| Legacies | 12 | ||||
| 187,524 | 187,524 | 243,969 | |||
| General Charitable Donations |
|||||
| 2022 | 2021 | ||||
| E | |||||
| 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 | 1,200 | |
| HMS Queen Elizabeth | 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 | ||||
| London Nautical School |
3,000 | 3,000 | |||
| Merchant Navy |
100 | 100 | |||
| United Guilds' Service |
200 | 200 | |||
| Others —less than f300(2) | 500 | 500 | |||
| 33,000 | 33,000 |
| General Charitable Donations |
(Continued) | (Continued) | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| 6 | 6 | |||
| Charitable Donations —Responsive |
||||
| Venture Trust | 1,000 | |||
| London Nautical School (Funding |
solutions | for schools) | 600 | |
| London Nautical School (laptops) |
2,000 | |||
| Disabled Sailing Association | 1,000 | |||
| The Island Trust | 3,600 | |||
| The AHOY Centre Charity | 2,000 | |||
| Christian Youth Enterprise Sailing Centre |
2,000 | 1,000 | ||
| Fulham Reach Boat Club | 1,000 | |||
| Point Lynas National Coastwatch |
Institute | Station | 600 | |
| Excelsior Trust | 2,000 | 750 | ||
| Mission to Seafarers Flying Angels Campaign |
2,000 | |||
| Portsmouth Sail Training Trust |
1,700 | 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 | |||
| Charles Henry Experience |
3,000 | |||
| Maritime London Officer Cadet Scholarship |
3,000 | |||
| The Tectona Trust | 2,000 | |||
| Horizon Safety Boat Project | 2,500 | |||
| Children's Sailing Trust |
2,160 | |||
| Steamship Freshspring Trust |
1,000 | |||
| Seafarers' International Relief Fund |
5,000 | |||
| 24,360 | 24,600 |
| General Char | itable |
Do | nations (Continued) |
||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E | 5 | ||||
| Special Donations | |||||
| Local Projects | 1,000 | 75 | |||
| 1,000 | 75 | ||||
| Shipwright Apprentice |
Lectures | 7,080 | |||
| Apprenticeship | fund | 99,932 | 92,176 | ||
| Total General | Charitable | Donations | 165,372 | 149,851 |
| Restricted Grants and Donations | ||
|---|---|---|
| 2022 | 2021 | |
| 6 | ||
| Queens Silver Medal Awards | ||
| Infinite Perspective Limited (Course Fee) |
22,575 | |
| Mr Cameron Rogers —Queens Silver Medal Winner |
1,500 | |
| James Atkinson —The Shipwrights' Bronze Medal Winner |
1,000 | |
| Mr Ben Turnough —Derek Kimber Medal Winner |
750 | |
| Mr Harrison Chivers —Most Notable Endeavour |
500 | |
| Other | 3,950 | |
| 30,275 |
| Restricted Grants and | Donations | (Continued) | |||
|---|---|---|---|---|---|
| 2022f | 2021 | ||||
| Billmeir Awards | |||||
| Clyde Maritime Project, |
SVGLENLEE | 5,000 | 5,000 | ||
| Falmouth Marine School |
5,500 | 6,500 | |||
| Coleg Llandrillo | 1,500 | 3,200 | |||
| Lyme Regis Boat Building Academy | 3,750 | 7,500 | |||
| Paragon Skills |
3,000 | 4,550 | |||
| International Boat Building Training |
College, Lowerstoft | 2,000 | |||
| Marine Skills Centre, Southampton | 1,500 | ||||
| Southampton College |
1,250 | ||||
| Fareham College, CEMAST |
1,000 | ||||
| Plymouth City College |
1,000 | ||||
| Menai Strait's Heritage | Sailing | 1,000 | |||
| Institute of Chartered Shipbrokers |
2,000 | 2,000 | |||
| 24,250 | 33,000 | ||||
| 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 | |
| University of Strathclyde |
—Abram | travel bursary | 5,000 | ||
| University of Southampton |
7,000 | 7,000 | |||
| 27,000 | 32,000 | ||||
| Total Restricted Grants | and Donations | 81,525 | 65,000 | ||
| Outdoor Activity Bursaries | |||||
| 2022 | 2021 | ||||
| 6 | E | ||||
| Tall Ships Youth Trust | 20,000 | 20,000 | |||
| Jubilee Sailing Trust | 5,000 | 5,000 | |||
| Ocean Youth Trust (Scotland) | 5,000 | 5,000 | |||
| 30,000 | 30,000 |
| 7. | Governance | costs | ||||
|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | |||
| 2022 | 2022 | 2022 | 2021 | |||
| 6 | 6 | 6 | 6 | |||
| Staff costs and pensions | 15,684 | 120,796 | 136,480 | 136,638 | ||
| Accountancy | —Non Audit | 5,835 | 11,670 | 17,505 | 15,460 | |
| Previous | year adjustment | 2,467 | 4,933 | 7,400 | ||
| Audit | 3,908 | 3,908 | 3,990 | |||
| Irrecoverable | VAT | 1,660 | 6,156 | 7,816 | 3,890 | |
| Sundry expenses | 129 | 2,724 | 2,853 | 2,055 | ||
| 25,775 | 150,187 | 175,962 | 162,033 |
| Analysis ofStaff Costs and Remuneration | of Key Management | Personnel | |
|---|---|---|---|
| 2022 | 2021 | ||
| E | |||
| Salaries and wage | 124,193 | 122,863 | |
| Social security costs | 6,809 | 11,039 | |
| Pension costs | 5,478 | 2,736 | |
| 136,480 | 136,638 |
| Restricted | Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2021 | |||||
| 6 | ||||||||
| Market value | at 1 May | 969,896 | 5,513,361 | 6,483,257 | 5,528,354 | |||
| Additions | 20,074 | 114,112 | 134,186 | 276,367 | ||||
| Disposals | (2,169) | (12,331) | (14,500) | (29,000) | ||||
| Unrealised | gain/(loss) | (5,054) | (28,731) | (33,785) | 690,332 | |||
| Realised gain/(loss) | 166 | 941 | 1,107 | 17,204 | ||||
| Market value | at 30 April | 982,913 | 5,587,352 | 6,570,265 | 6,483,257 | |||
| Cash | 8,551 | 48,607 | 57,158 | 42,149 | ||||
| Total Market | value at 30 April | 991,464 | 5,635,959 | 6,627,423 | 6,525,406 | |||
| 10. | Creditors | and | Accruals | |||||
| 2022 | 2021 | |||||||
| 6 | 6 | |||||||
| Creditors | 117,703 | 77,893 | ||||||
| Accruals | 22,712 | 17,431 | ||||||
| 140,415 | 95,324 | |||||||
| 11. | Funds | |||||||
| Restricted | Unrestricted | Total | ||||||
| f | f | 6 | ||||||
| At 1 May 2021 | 395,188 | 6,243,110 | 6,638,298 | |||||
| Net incoming | resources | 33,692 | 379,043 | 412,735 | ||||
| Netresources | expended | (107,816) | (348,486) | (456,302) | ||||
| Revaluation | of | investments | (4,889) | (27,790) | (32,679) | |||
| At 30 April | 2022 | 316,175 | 6,245,877 | 6,562,363 |
| Reconciliation | of | Net Movem | ent in Funds |
to Net Cash | Flow from Operating |
Activities |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| 8 | 6 | |||||
| Net movement | in funds (Before tax) | (76,246) | 761,581 | |||
| Deduct interest | income shown | in investment | activities | (225,211) | (220,273) | |
| (Gains)/Losses | on | investments | 32,679 | (707,536) | ||
| (Increase)/Decrease | in debtors | (7,520) | 35,975 | |||
| (Decrease)/Increase | in creditors | 45,091 | 50,912 | |||
| (231,207) | (79,341) |