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|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 Cashf lowe||16|
|Notes to the Financial|Statements|17-24|
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|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||Fund|Fund|Funds|Funds|
||Note|2023
6|2023
6|2023
6|2022f|
|Incoming
and Endowments||||||
|Donations
and Legacies|3||142,239|142,239|187,524|
|Income from investments|2|34,660|197,028|231,688|225,211|
|Total Income and Endowments||34,660|339,267|373,927|412,735|
|Expenditure||||||
|Expenditure
on Raising Funds||||||
|Portfolio management
fees||686|3,901|4,587|3,443|
|Expenditure
on Charitable|Activities|||||
|General charitable
donations|4&5|59,900|125,092|184,992|246,897|
|Outdoor
activity bursaries|6||30,000|30,000|30,000|
|Governance
costs|7|25,263|133,318|158,581|175,962|
|||85,163|288,410|373,573|452,859|
|Total Expenditure||85,849|292,311|378,160|456,302|
|Net (Expenditure)/Income|and net|||||
|Movement
in funds before|Gains|||||
|and Losses on Investments||(51,189)|46,956|(4,233)|(43,567)|
|Net Gains/(Losses)
on investments||(51,102)|(290,491)|(341,593)|(32,679)|
|Net Movements
in Funds||(102,291)|(243,535)|(345,826)|(76,246)|
|Funds Brought Forward at||||||
|1 May 2022||316,175|6,245,877|6,562,052|6,638,298|
|Funds Carried Forward at||||||
|30April 2023||213,884|6,002,342|6,216,226|6,562,052|
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||||Note||2023||2022||
|---|---|---|---|---|---|---|---|---|
|||||E||5|||
|Investments
at|Market Value||||||||
|Stocks and shares|||9|6,141,672||6,570,265|||
|Portfolio cash|||9|21,311||57,158|||
|||||||6,162,983|6,627,423||
|Current Assets|||||||||
|Accrued income||||40,791||56,908|||
|Debtor|||10|600|||||
|Stock||||238||238|||
|Cash at bank—|||||||||
|Current account||||41,227||10,783|||
|Deposit account||||27,289||7,115|||
|||||110,145||75,044|||
|Creditors: amounts||falling|||||||
|due within one|year||||||||
|Creditors
&other|accruals||11|18,944||30,218|||
|Shipwrights
Company||General|||||||
|Fund||||37,958||110,197|||
|||||56,902||140,415|||
|Net Current Assets||||||53,243||(65,371)|
|Total Funds||||||6,216,226|6,562,052||
|Restricted
Funds|||12|||213,884||316,175|
|Unrestricted
Funds|||12|||6,002,342|6,245,877||
|Total Funds||||||6,216,226|6,562,052||
|Lieutenant
Colonel||R C Cole-Mackintosh||||N JA Shaw|||
||Clerk/CEO|||||Prime Warden|||
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||||Note|2023
f|2022
6|
|---|---|---|---|---|---|
|Net Cash used
in Operating
Activities|||14|(303,917)|(231,207)|
|Cash Flows from investing|activities|||||
|Interest and dividends||||231,518|225,143|
|Tax reclaims||||170|68|
|Payments
to acquire investments||||(20,000)|(134,186)|
|Funds withdrawn
from investments||||107,000|14,500|
|Net cash provided
by investing
activities||||318,688|105,525|
|Change
in cash and cash|equivalents|in Year||14,771|(125,682)|
|Cash and cash equivalents|brought
forward|||75,056|200,738|
|Cash and cash equivalents|carried forward|||89,827|75,056|
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|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||2023|2023|2023|2022|
||||||8|8|8|
|Listed investment|||dividend|||||
|Income||||34,469|195,940|230,409|225,109|
|Income|from cash||held|166|943|1,109|34|
|Interest|on|tax reclaims||25|145|170|68|
|||||34,660|197,028|231,688|225,211|
|Donations||and Legacies||||||
|||||Restricted|Unrestricted|Total|Total|
|||||2023|2023|2023|2022|
|||||6||p|E|
|Apprentice||fund donations|||||19,375|
|Special
Planned|donations
giving||||102,239|102,239|35
128,114|
|E.B.M.|Charitable||Trust||40,000|40,000|40,000|
||||||142,239|142,239|187,524|
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|General Charitable
Donations|General Charitable
Donations|General Charitable
Donations|General Charitable
Donations||||
|---|---|---|---|---|---|---|
||||||2023|2022|
|||||||6|
|Charitable
Donations —Standard|||||||
|Annual
National
Service|for Seafarers||||1,000|500|
|City of London Sea Cadets|||Corps||3,000|3,000|
|Clergy Support Trust|||||200|200|
|George Green's School|||||3,000|3,000|
|Guildhall
Library|||||300|300|
|HMS Queen Elizabeth|||||2,000|2,000|
|London Area Sea Cadets||(inc. pocket||money)||1,200|
|Lord Mayor's Appeal|||||1,000|1,000|
|London Nautical
School|||||3,000|3,000|
|Marine Society &Sea Cadets|||||13,000|13,000|
|Merchant
Navy|||||100|100|
|Sea Scouts|||||4,000|4,000|
|Sheriffs' and Recorder's||Fund|||500|500|
|St Paul's Cathedral|||||500|500|
|United
Guilds' Service|||||300|200|
|Others —less than &400||(2)|||750|500|
||||||32,650|33,000|
||||||2023|2022|
|||||||E|
|Charitable
Donations —Responsive|||||||
|Charles
Henry Experience||||||3,000|
|Children's
Sailing Trust||||||2,160|
|Christian
Youth Enterprise|||Sailing Centre|||2,000|
|Douglas Bader Foundation|||||2,000||
|Excelsior Trust||||||2,000|
|Fellowship
Afloat Charitable|||Trust||2,500||
|Fulham
Reach Boat Club|||||2,000||
|Horizon Safety Boat Project||||||2,500|
|MACS|||||1,605||
|Maritime
London Officer||Cadet Scholarship||||3,000|
|Mayflower
Primary
School|||||2,000||
|MV Balmoral|||||2,000||
|Oxford Sailability|||||3,235||
|Portsmouth
Sail Training||Trust|||2,000|1,700|
|Seafarers'
International|Relief Fund|||||5,000|
|Steamship
Freshspring|Trust|||||1,000|
|The Tectona Trust||||||2,000|
|UK Sailing Academy|||||5,000||
|Women
in Boatbuilding|||||2,000||
|Worcester Merchant
Navy|||Cadetship|Scheme|2,000||
||||||26,340|24,360|
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|||2023|2022|
|---|---|---|---|
|||6|8|
|Special Donations||||
|Local Projects||1,322|1,000|
|||1,322|1,000|
|Shipwright
Apprentice
Lectures||7,866|7,080|
|Apprenticeship
fund||24,660|99,932|
|Total General Charitable
Donations||92,838|165,372|
|Restricted Grants and Donations||||
|||2023|2022|
|||8|6|
|King's Silver Medal Awards||||
|Infinite Perspective
Limited (Course|Fee)|26,480|22,575|
|King's Silver Medal Winner||1,500|1,500|
|The Shipwnghts'
Bronze Medal Winner||1,000|1,000|
|Derek Kimber Medal Winner||750|750|
|Most Notable Endeavour||500|500|
|Other||2,024|3,950|
|||32,254|30,275|
|Billmeir Awards||||
|Clyde Maritime
Project, SVGLENLEE||5,000|5,000|
|Coleg Llandrillo||3,400|1,500|
|Falmouth
Marine School||7,000|5,500|
|Fareham
College, CEMAST|||1,000|
|Institute of Chartered
Shipbrokers||2,000|2,000|
|International
Boat Building
Training|College, Lowestoft|1,750||
|I yme Regis Boat Building Academy||3,250|3,750|
|Marine
Skills Centre, Southampton||2,000|1,500|
|Menai Strait's Heritage
Sailing|||1,000|
|Paragon
Skills
Stirling 8Son Ltd, Plymouth||1,750|3,000|
|The Education
Trust
/ E P Barrus Ltd||1,750||
|||27,900|24,250|
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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||5|9|
||University
Grants||||||||
||University
of Newcastle||||||7,000|7,000|
||University
of Southampton||||||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||
||||||||32,000|27,000|
||Total Restricted
Grants and Donations||||||92,154|81,525|
|6.|Outdoor Activity Bursaries||||||||
||||||||2023|2022|
|||||||||F|
||Jubilee Sailing Trust
Ocean Youth Trust (Scotland)||||||5,000
5,000|5,000
5,000|
||Tall Ships Youth Trust||||||20,000|20,000|
||||||||30,000|30,000|
|7.|Governance costs||||||||
||||||Restricted|Unrestricted|Total|Total|
||||||2023|2023|2023|2022|
||||||p|F|5|L|
||Staff costs and pensions||||16,687|111,512|128,199|136,480|
||Accountancy —Non Audit||||6,167|12,334|18,501|17,505|
||Previous year adjustment|||||||7,400|
||Audit
Irrecoverable
VAT||||1,372
1,015|2,744
5,771|4,116
6,786|3,908
7,816|
||Sundry expenses||||22|958|980|2,853|
||||||25,263|133,319|158,582|175,962|
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|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||2023
f|2023
8|2023
6|2022
6|
|Market value at 1 May||982,913|5,587,352|6,570,265|6,483,257|
|Additions||2,992|17,008|20,000|134,186|
|Disposals||(16,007)|(90,993)|(107,000)|(14,500)|
|Unrealised|gain/(loss)|(51,742)|(294,129)|(345,871)|(33,785)|
|Realised|gain/(loss)|640|3,638|4,278|1,107|
|Market value at 30 April||918,796|5,222,876|6,141,672|6,570,265|
|Cash||3,188|18,123|21,311|57,158|
|Total Market value at 30 April||921,984|5,240,999|6,162,983|6,627,423|
|Debtor||||||
|||||2023|2022|
|||||E||
|Donation|repayment|||600||
|||||600||
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|||||2023|2022|
|---|---|---|---|---|---|
|||||F|E|
||Creditors
Accruals|||18,944|7,506
22,712|
|||||18,944|30,218|
|12.|Funds|||||
||||Restricted
F|Unrestricted
6|Totalf|
||At 1 May 2022||316,175|6,245,877|6,562,052|
||Net incoming
resources
Net resources expended
Revaluation
of investments||34,660
(85,849)
(51,102)|339,267
(292,311)
(290,491)|373,927
(378,160)
(341,593)|
||At 30 April 2023||213,884|6,002,342|6,216,226|
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|Reconciliation
of Ne|t Movem|ent
in Funds|to Net Cash|Flow from Operating
|Activities|
|---|---|---|---|---|---|
|||||2023
9|2022f|
|Net movement
in funds||||(345,826)|(76,246)|
|Deduct interest income shown||in investment|activities|(231,688)|(225,211)|
|Losses on investments||||341,593|32,679|
|(Increase)/Decrease
(Decrease)/Increase|in debtors
in creditors|||15,517
(83,513)|(7,520)
45,091|
|||||(303,917)|(231,207)|