##
##
|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)|