2023-01-31-accounts - Ss Great Britain Trust

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CONTENTS			PAGE
Report ofthe Board ofTrustees
Legal and Administrative Information
Independent Auditor's Report			13
Group Statement of Financial Activities			17
Group Income and Expenditure	Account		18
Group Balance Sheet			19
Company Balance Sheet
Group Cash Flow Statement			20
Notes tothe Financial Statements			21
Prior year Group SOFA for comparative		purposes	38

accumulat	ed surpluses upon Designat	ed fu	nd	special pr	ojects.
						2023	2022
						g
Operating	(Deficit)/Surplus before Designated			fund projects spending		(484,133)	(171,306)
Less Designated fund projects expenditure			(not capitalised)			~49 132	~80 849
(Deficit) Transfer	before transfers ofincome fiom Endowment	Fund	4restricted		fund	(533,265) 343 240	(252,155) 133685
Unrestricted (Deficit) retained						(~190025	~118470

					Unrestricted	Restricted	Endowment	2023	2022
					Funds	Funds	Funds
				Note
Income and Endowments	from:
Donations and Legacies				2	439,408	280,437		719,845	1,829,807
Other Trading Activities				2	574,153	10,000		584,153	335,735
Investment Income					369		172,640	173,009	155,319
Charitable activities
Day Membership (including		gift aid)			2,212,865			2,212,865	1,363,062
Members covenants and subscriptions					16,831			16,831	16,788
Total					3,243,626	290,437	172,640	3,706,703	3,700,711
Expenditure on:
Cost ofraising funds
SSGreat Britain Trading	Limited			3	782,392			782,392	598,996
Fundraising and communications				4	166,720	150		166,870	163,930
Investment management	fees						33,536	33,536	26,481
Charitable activities				5	2,827,779	903,252		3,731,031	3,651,082
Total					3,776,891	903,402	33,536	4,713,829	4,440,489
Net (expenditure)/income investment (losses)/gains			before		533,265	612965	139,104	(1,007,126)	739,778
(Losses)/Gains on investment		assets
—realised							(27,016)	(27,016)	89,734
—unrealised							(186,202)	(186,202)	342,682
Net incoming/(outgoing)	resources
before transfers				10	(533,265)	(612,965)	(74,114)	(1,220,344)	(307,362)
Transfers between funds				21	343,240	(170,600)	(172,640)
Net movement in funds	for	the	year		(190,025)	(783,565)	(246,754)	(1,220,344)	(307,362)
Total funds brought forward					2,689,253	10,710,543	7,317,609	20,717,405	21,024,767
Total funds carried forward					2,499,228	9,926,978	7,070,855	19,497,061	20,717,405

		Unrestricted	Restricted
		Funds	Funds	2023	2022
Gross income		3,243,626	290,437	3,534,063	3,545,545
Total
expenditure		3,776,891	903,402	4,680,293	4,414,008
Net (expenditure)/income	for the
year		533,265	612965	I 146230	868,463

		Group		Company
		2023	2022	2023	2022
	Note			f,
FIXEDASSETS
Tangible fixed assets	12	11,811,204	12,513,635	11,799,136	12,501,685
Investments	13	7070954	7317708	200	200
		18,882,158	19,831,343	11,799,336	12,501,885
CURRENT ASSETS
Stocks	14	170,012	156,133
Debtors	15	359,675	592,219	887,536	1,101,576
Cash at bank and in hand	16	657731	796558	594944	743239
		1,187,418	1,544,910	1,482,480	1,844,815
CREDITORS: Amounts
faBing due in one year	17	~572 516	658 847	523 405	566 285
NET CURRENT ASSETS		614902	886063	959073	1 278 530
TOTAL ASSETSLESS
CURRENT LIABILITIES	20	1%~060	21h217~4		1378 41
FUNDS
Endowment funds	22	7,070,855	7,317,609
Restricted funds		9,926,978	10,710,543	9,926,978	10,710,543
Unrestricted funds:
Designated funds	24	182,648	66,832	182,648	66,832
Reserve fund		400,000	400,000	400,000	400,000
General funds		I 916579	2222 422	2248 785	2 603040
		2,499,227	2,689,254	2,831,433	3,069,872
TOTALFUNDS			2071~76	~12 5tu4II.	133804&1

			2023	2022I
Cash used in operating activities			(294,824)	(333,180)
Investment income			173,009	155,319
Purchase oftangible fixed assets			(17,012)
Endowment charges (Decrease) in cash and cash equivalents		in the year	(~138	9,432 (~
Cash and cash equivalents at beginning ofthe year			796,558	974,419
Total cash and cash equivalents	at the end ofthe year (note 16)		657 731
RECONCILIATION OFNET INCOME TO NET
CASH INFLOW FROM OPERATING		ACTIVITIES
			2023	2022
Net income for the year			(1,007,126)	(739,778)
Investment income			(173,009)	(155,319)
Endowment charges charged to capital			33,536
Depreciation and loss on disposal			719,443	727,603
(Increase)/Decrease in stocks			(13,879)	34,601
Decrease/(Increase) in debtors			232,544	(341,735)
(Decrease)/Increase in creditors			(86,333)	141,448
Cash used in operating activities			4 24	33318

2022:f105,090),8705,838	grant,	donation and legacy	income (20	22:F551,578).
Activities for generating	funds	Gmup		Company
		2023	2022	2023	2022
Unrestricted
Income from fundraising		34,325	43,752	34,325	43,752
Income from SSGreat Britain
Trading Limited (see note	3)	436,828	182,983
Facility Fee from SSGreat
Britain Trading Limited		103000	103000	118000	118000
		574,153	329,735	152,325	161,752
Restricted
Income from fundraising		10,000	6,000	10,000	6,000
		~MI	335735	~1623	167752

NET INCOME FRO	NET INCOME FRO	M TRADING A	CTIVITIES OF SUBSIDIARY	CTIVITIES OF SUBSIDIARY	CTIVITIES OF SUBSIDIARY
The principal activities were those ofproviding		ofthe subsidiary a retail, catering	SSGreat Britain Trading Limited (company and function business at the SSGreat Britain.			number 00999528) A summary ofthe
results and	balance sheet ofSS Great Britain Trading Limited is set out below.
				2023	2022
Turnover				436,829	203,642
Expenditure				(802,734)	(625,280)
Intra-group	recharges,	income and expenses		352,545	324,480
Retained profit for the		year		(13,360)	(97,158)
Prior year	distribution
Balance brought forward				(318,741)	(221,583)
Balance carried forward				(332,101)	(318,741)
Assets				275,876	259,254
Liabilities				(607,977)	(577,995)
Net assets				(332,101)	(318,741)

HARITABLE EXPENDITU	RE
		Group		Company
		2023	2022	2023	2022
Conservation and Maintenance	(see note 6)	1,311,029	1,092,330	1,309,472	1,090,690
Curatorial and Education (see Brunel Institute Project	note 7)	1,553,573 51,334	932,968 44,286	1,551,793 51,112	931,093 44,052
Day Membership and Advertising		815,095	674,145	831,685	672,270
Management charge by SSGreat Britain Trading Limited				334,175	339,480
		3,731,031	2,743,729	4,078,237	3,077,585

ONSERVATI	ON AND MAINTEN	ANCE COSTS
Group		Unrestricted	Restricted	2023 Total	2022 Total
Conservation	and Dehumidification	182,480	922	183,402	271,634
Maintenance		522,493		522,493	528,182
Depreciation Support Costs	(see note 8)	340,192 1,045,165	245,796 19,146 265,864	245,796 359,338 1,311,029	247,140 329,150 1,376,106

URATORIAL AND EDUCATI	ON COSTS
Group and Company	Unrestricted	Restricted	2023 Total	2022 Total I
Curatorial	425,126	209,397	634,523	694,551
Education	145,807	74,951	220,758	173,530
Depreciation Support Costs (see note 8)	388,791 959,724	287,620 21,881 593,849	287,620 410672 1,553,573	287,675 376,172 1,531,928

Group and Company		Unrestricted	Restricted	2023 Total	2022 Total
Wages and Salaries		558,654		558,654	512,230
Establishment Costs		188,525		188,525	154,303
Legal and Professional	fees
Finance Costs		28,571		28,571	20,192
Depreciation		116,739	65,644	182,383	189,345
Marketing and PR		71,126		71,126	77,477
Governance		33,629		33,629	38,914
Other overheads		169,129		169,129	136,054
		1,166,373	65,644	1,232,017	1,128,515

ased on the proportion ofcore staff	attributable to each	activity.
Group and Company	Unrestricted	Restricted	2023 Total	2022 Total
Conservation and Maintenance	340,192	19,146	359,338	329,150
Curatorial and Education	388,791	21,881	410,672	376,172
Brunel Institute Project	48,599	2,735	51,334	47,021
Day membership	388,791	21,882	410673	376,172
	1,166373	65,644	1,232,017	1,128,515

he net income is stated afte	r	charging:
			Group		Company
			2023	2022	2023	2022
Depreciation			719,443	727,603	715,799	724,160
Operating lease costs —plant		and machinery	21,452	20,892	21,452	20,892
Expenditure on Designated	projects
from prior year surpluses			49,132	80,849	49,132	80,849
Audit related services			19,500	18,000	19,500	14,000
Non audit related accountancy		services	5,710	4,210	3,200	1,700

	Group		Company
	2023	2022	2023	2022
Wages and salaries	1,860,546	1,761,319	1,385,939	1,263,960
Social security costs	173,510	153,880	139,376	119,389
Other pension costs	95,285	92,436	73,441	67,230
Other staff benefits	9,431	9,391	5,334	5,122
Redundancy and termination
payments
	2,138,772	2,017,026	1 604090	1,455,70t

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Group
		National	Listed
		Savings	Investment
			Portfoliof	Cash	Total f
Market value at 1 February 2023		100	7,026,440	291,169	7,317,609
Additions			637,802		637,802
Dispo sais			(849,690)		(849,690)
Investment	gains		(186,203)		(186,203)
Cash movement				151,337	151,337
Market value at 31 January 2023		100	6,628,350	442,506	7,070,857
Historical	cost	100	5,209,769	440,411	5,650,180

Company
COST AND NET BOOKVALUE	2023	2022
At 1 February 2022 and 31 January 2023:
Shares in SSGreat Britain Trading Limited	100	100
National Savings	100	100
	200	200

TRADING INVENTORIES
Group	2023 f	2022
Opening Stocks	156,133	190,734
Purchases	160,114	56,165
Less COS Closing Stocks	(~146235 ~170 12	(~90 766 ~13

15.	DEBTORS
			Group		Company
			2023	2022	2023	2022
	Trade Debtors		19,318	23,966
	Amounts owed by group VAT recoverable	undertakings		1,071	556,897	545,237 1,071
	Prepayments and accrued	income	340,357 359,675	567,182 592,219	330,639 887,536	555,268 1,101,576
16.	CASH AT BANK AND IN HAND
	(Being cash and cash equivalents)		Group		Company
			2023	2022	2023	2022
			8	E
	Rcstrictcd funds		186,278	370,783	186278	370783
	Unrestricted funds:
	Reserve fund		400,000	400,000	400,000	400,000
	Designated funds General funds		182,648 /1 1 i 195	66,832 41 n5'ii	182,648 173,982i	66,832 94,376)
			657,731	796,558	594 944	743239
	Ofthe 8657,731 cash held,	the free cash balance isf352,761		(see Reserves on page 6)
17.	CREDITORSi Amounts	falling due within one year
			Gmup		Company
			2023	2022	2023	2022
	Trade Creditors		92,513	155,285	86,311	106,763
	Retention s		7,007	7,007	7,007	7,007
	PAYE and social security		44,763	42,409	36,726	34,748
	VAT owing Accruals and deferred income		7,962 420,269	454,146	7,962 385,401	417,766
			572,516	658,847	523,407	566,284

		Assets other than land	and buildin
Group	aud Company
		2023	2022
Within	1 year	21,542	23,297
Within	2 —5 years	26,805	19,406

Group
		Unrestricted
			Designated
		General	and	reserve	Restricted	Endowment
		Funds		Funds	Funds	Fund	Total
						8
Tangible	fixed assets	2,063,497			9,747,707		11,811,204
Investments		100				7,070,855	7,070,955
Cash		(111,195)		582,648	186,278		657,731
Current	assets	529,687					529,687
Current	liabilities	(565,509)			(7,007)		(572,516)
		1916580		582,648	9,926,978	7,070,855	19497,060

		Unrestricted	Unrestricted
			Designated
		General	and	reserve	Restricted
		Funds		funds	Funds	Total
				8
Tangible	fixed assets	2,051,429			9,747,707	11,799,136
Investments		200				200
Cash		(173,982)		582,648	186,278	594,944
Current	assets	887,536				887,536
Current	liabilities	(516,398)			(7,007)	(523,405)
		2,248,785		582,648	9,926,978	12,758,411

	Balance		Movement	in funds		Balance
	I February	Incoming				31 January
GROUP	2022	Resources	Expenditure	Losses	Transfers f	2023 f
Endowment Fund Restricted funds	7,317,609 10,710,543	172,640 290,437	(33,536) (903,402)	(213,218)	(172,640) (170,600)	7,070,855 9,926,978
Unrestricted funds:
Designated funds Reserve funds	66,832 400,000		(49,132)		164,948	182,648 400,000
General funds	2,222,422	3,243,626	3,727,759		178,292	1,916,580
	2,689,254	3,243,626	(3,776,891)		343,240	2,499,228
	20,717,406	3,706,703	4,713,829	(213,218		19,497,060
COMPANY
Resbd t d fu ds	10 71o &4Q	290437	(Q03 402)		(170,600)	9,926,978
Unrestricted funds:
Designated funds Reserve funds	66,832 400,000		(49,132)		164,948	182,648 400,000
General funds	2,541,273	2,994,438	3,292,578		5,652	2,248,785
	3,008,105	2,994,438	(3,341,710)		170,600	2,831,433
	13,718,648	3,284,875	4,245,112			12,758,411

		Balance	Movement in funds:	Movement in funds:		Balance
		1 February	Incoming			31 January
		2022	Resources	Expenditure	Transfers	2023
Fixed asset funds
Being Brunel		5,392,761		(244,543)		5,148,218
Brunel Institute		2,560,212		(65,644)		2,494,568
Dry Dock Engine		18,105 121,010		(1,344) (43,077)		16,761 77,933
Ship interpretation	and
dockyard assets		2,254,679		(244,452		2,010,227
		10346767		599,060		9,747,707
Revenue funds
50"Anniversary		1,000		(1,000)		0
Acquisitions		25		(25)		0
Albion Dock Project			119,906	(61,707)		58,199
Being Brunel		167,412		(91,374)		76,038
Brunel Institute			51,106	(51,106)		0
Education			15,000	(15,000)		0
Endowment Fund		170,600			(170,600)	0
Exchange Project Help the Hull		15,332	29,702	(15,592) (922)		14,110 14,410
IGKT			6,000	(4,185)		1,815
Mast Appeal Museums and Schools		9,407	6,460 50,544	(59,951)		6,460 0
Other small grants			1,410	(1,410)		0
Selling immigration			10309	2070		8239
		363,776	290,437	304,342	170,600	179,271
		10,710,543	290,437	(903,402)	(170,600)	9,926,978

	Balance	Movement in funds:	Movement in funds:		Balance
	1 February	Incoming			31January
	2021	Resources	Expenditure	Transfers	2022
	E			8
Fixed asset funds
Being Brunel Brunel Institute	5,637,359 2,625,856		(244,598) (65,644)		5,392,761 2,560,212
Dry Dock Engine	19,449 164,087		(1,344) (43,077)		18,105 121,010
Ship interpretation and dockyard assets	2500475 10,947,226		245 796 (600,459)		2,254,679 10,346,767
Rcvcnuc funds
50e Anniversary Acquisitions	43,138	38,876 21,166	(81,014) (21,141)		1,000 25
Albatross conservation		1,362	(1,362)
Being Brunel	202,464	56,766 39467	(91,818) (39 467t		167,412
Education		5,000		(5,000)	0
Endowment Fund	116,506	54,094			170,600
Help the Hull Museums and Schools WECA Green Grant	9,052 13,465	10,000 50,544 13770	(3,720) (54,602) (13,770		15,332 9,407 0
	384,625	291,045	(306,894	5,000)	363,776
	11,331,851	291,045	(907,353)	(5,000)	10,710,543

ESIGNATED FUNDS
	2023	2022
Opening Balance	66,832	147,681
Utilised	(49,132)	(80,849)
New designations	164,948
ClosinBalance	182648	66832

Year Ended 31Jan	u	a	20	22
						Unrestricted	Restricted	Endowment	2022	2021
						Funds	Funds	Funds
					Note	8
Income and Endowments		from:
Donations and Legacies					2	1,544,762	285,045		1,829,807	2,276,041
Other Trading Activities					2	329,735	6,000		335,735	243,145
Investment Income						153		155,166	155,319	144,568
Charitable activities
Day Membership (including			gift	aid)		1,363,062			1,363,062	624,736
Members covenants and	subscriptions					16,788			16,788	21,275
Total						3,254,500	291,045	155,166	3,700,711	3,309,765
Expenditure on:
Cost ofraising funds
SSGreat Britain Trading		Limited			3	598,996			598,996	601,394
Fundraising and communications					4	163,930			163,930	167,782
Investment management	fees							26,481	26,481	30,929
Charitable activities					5	2,743,729	907,353		3,651,082	3,310,457
Total						3,506,655	907,353	26,481	4,440,489	4,110,562
Net (expenditure)/income				before
investment (losses)/gains						(252,155)	616,308)	128,685	739,778	(800,797)
(Losses)/Gains on investment			assets
—realised								89,734	89,734	(142,622)
—unrealised								342,682	342,682	(89,166)
Net incoming/(outgoing)		resources
before transfers					10	(252,155)	(616,308)	561,101	(307,362)	(1,032,585)
Transfers between funds					21	133,685	(5,000)	(128,685)
Net movement in funds	for		the	year		(118,470)	(621,308)	432,416	(307,362)	(1,032,585)
Total funds brought forward						2,807,723	11,331,851	6,885,193	21,024,767	22,055,274
Total funds carried forward						2,689,253	10,710,543	7,317,609	20,717,405	21,022,689