| Trustees. | |
|---|---|
| Reference and administrative details. . . |
|
| Trustees' report for the year ended 31st December 2022 |
|
| Independent auditors' report to the Trustees. |
12 |
| Statement offinancial activities for the year ended 31December 2022 |
.16 |
| Balance sheet as at 31December 2022 | .17 |
| Statement ofcash flows for the year ended 31December 2022 |
.18 |
| Notes to the financial statements for the year ended 31December 2022 |
19 |
| 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Unrestricted | Restricted | Endowment | Total | |||
| Funds | Funds | Funds | Funds | Funds | Funds | Funds | Funds | |||
| Note | f000 | EOOD | EOOD | E000 | f000 | f000 | f000 | f000 | ||
| Income from | ||||||||||
| Donations | 2,156 | 22 | 2,178 | 867 | 31 | 898 | ||||
| Rental income | 100 | 100 | 100 | 100 | ||||||
| Investments | 111 | 117 | 104 | 110 | ||||||
| Income | 2,367 | 22 | 6 | 2,395 | 1,070 | 31 | 6 | 1,108 | ||
| Expenditure on |
||||||||||
| Raising funds | 8 | 24 | 32 | 8 | 25 | 33 | ||||
| Billingsgate Market |
94 | 94 | 126 | 126 | ||||||
| Grants | 774 | 774 | 825 | 825 | ||||||
| Fisheries Projects | 582 | 28 | 610 | 284 | 26 | 310 | ||||
| Expenditure | 1,458 | 24 | 1,510 | 1,243 | 26 | 25 | 1,294 | |||
| Net gains/(losses) | on investments | 10,11 | (261) | (384) | (645) | 64 | 427 | 491 | ||
| Net (Expenditure)/Income | 648 | (6) | (402) | 239 | (109) | 408 | 304 | |||
| Transfers between | funds: | |||||||||
| Allocation to income | 15 | (6) | (6) | |||||||
| Net movement in |
funds | 648 | (409) | 239 | (109) | 402 | 304 | |||
| Reconciliation of |
funds | |||||||||
| Total Funds brought forward | 1,173 | 21 | 3,222 | 4,416 | 1,282 | 10 | 2,820 | 4,112 | ||
| Total Funds carried forward | 1,821 | 21 | 2,813 | 4,656 | 1,173 | 21 | 3,222 | 4,416 |
| Balance sheet a | s at 31December 2022 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||
| Unrestricted | Restricted | Endowment | Total | Unrestricted | Restricted | Endowment | Total | |||
| Funds | Funds | |||||||||
| Note | f000 | f000 | f000 | f000 | EOOD | EOOD | EOOD | EOOO | ||
| Fixed assets | ||||||||||
| Investment Properties |
10 | 450 | 450 | 590 | 590 | |||||
| Investments | 11 | 868 | 2,778 | 3,646 | 997 | 3,187 | 4,184 | |||
| Total fixed assets | 1,318 | 2,778 | 4,096 | 1,587 | 3,187 | 4p774 | ||||
| Current assets | ||||||||||
| Debtors and prepayments | 12 | 77 | 77 | 2 | 2 | |||||
| Short term deposit | accounts | 22 | 22 | 22 | 22 | |||||
| Cash at bank and in | hand | 505 | 28 | 35 | 568 | 64 | 28 | 35 | 127 | |
| Total current assets | 603 | 28 | 35 | 667 | 88 | 28 | 35 | 151 | ||
| Liabilities | ||||||||||
| Creditors: Amounts | falling due within one year | 13 | 100 | 7 | 107 | 502 | 7 | 508 | ||
| Net current assets | 503 | 21 | 35 | 559 | (414) | 21 | 35 | (358) | ||
| Creditors: Amounts | falling due after more than one | |||||||||
| year | ||||||||||
| Net assets | 1,821 | 21 | 2,814 | 4,656 | 1173 | 21 | 3,222 | 4,416 | ||
| The funds ofthe charity | ||||||||||
| Unrestricted funds |
14 | 1,835 | 1,835 | 926 | 926 | |||||
| Restricted funds | 15 | 21 | 21 | 21 | 21 | |||||
| Endowment funds |
16 | 2,568 | 2,568 | 2,592 | 2,592 | |||||
| Revaluation reserve |
(14) | 246 | 232 | 247 | 630 | 877 | ||||
| Total charity funds | 1,821 | 21 | 2,814 | 4,656 | 1173 | 21 | 3,222 | 4p416 | ||
| The notes on pages | 19to 31form part ofthese financial | statements. | Andrew | c Sutcliffe Esq |
KC | 17May | 2023 | |||
| On behalf ofthe Trustees |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| f000 | f000 | ||||||
| Cash flows from operating | activities | ||||||
| Net cash used in operating |
activities | 228 | (291) | ||||
| Cash flows from investing | activities | ||||||
| Dividends, interest and rents from investments |
217 | 210 | |||||
| Purchase of investments | (4) | (4) | |||||
| Net cash provided by (used in) investing |
activities | 213 | 207 | ||||
| Change in cash and cash equivalents |
in the reporting | period | 441 | (85) | |||
| Cash and cash equivalents | at 1January | 149 | 234 | ||||
| Cash and cash equivalents | at 31December | 590 | 149 | ||||
| Reconciliation ofnet income to net |
cash | flow from | operating | activities | |||
| Net (expenditure) for the |
reporting | period (as per the SOFA) | 239 | 304 | |||
| Adjustments for: |
|||||||
| (Gains)/Losses on investments |
681 | (454) | |||||
| Dividends, interest and rents from investments |
(217) | (210) | |||||
| Decrease/(Increase) in debtors |
(75) | 81 | |||||
| (Decrease)/Increase in creditors |
(401) | (12) | |||||
| Net cash used in operating | activities | 228 | (291) | ||||
| Analysis ofcash and cash | equivalents | ||||||
| Short term deposit accounts | 22 | 22 | |||||
| Cash at bank and in hand | 568 | 127 | |||||
| Total cash and cash equivalents | 590 | 149 | |||||
| Split between: | |||||||
| Unrestricted Funds |
527 | 86 | |||||
| Restricted Funds |
28 | 28 | |||||
| Endowment Funds |
35 | 35 | |||||
| Analysis ofchanges in net |
debt | ||||||
| Cash and cash equivalents | at 1January | 149 | 234 | ||||
| Cash-flows | 441 | (85) | |||||
| Cash and cash equivalents | at 31December | 590 | 149 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| f000 | f000 | |||||
| Unrestricted funds |
||||||
| Donations | from the Fishmongers' | Company | 738 | 60 | ||
| Donation | from the Fishmongers' | Company | Charitable | Trust | 1,415 | 806 |
| Other donations | ||||||
| 2,156 | 867 | |||||
| Restricted | funds | |||||
| Seafarers' | donation | 22 | 31 | |||
| Total donations | 2,178 | 898 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f000 | f000 | |||
| Total | rental | income | 100 | 100 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f000 | f000 | |||
| Restricted investment | income | |||
| Simon Birch | Memorial | Fund | ||
| Unrestricted | investment income |
110 | 104 | |
| Unrestricted | interest | income | ||
| Total investment income |
117 | 110 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| f000 | f000 | ||||
| Employment expenditure |
including | cars | 59 | 58 | |
| Rent and service | charge | 1 | 7 | ||
| Business rates | 1 | ||||
| Office expenses | 1 | ||||
| 62 | |||||
| Split | |||||
| Fish inspection services |
58 | 58 | |||
| Other expenditure | 3 | 9 | |||
| Apportioned support costs |
33 | 59 | |||
| Total Billingsgate | Market | 94 | 126 |
| . GRANTS |
|||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| f000 | f000 | ||||||
| Targeted Academic Sponsorships | 124 | 85 | |||||
| Marine Fisheries Co-management | 80 | 70 | |||||
| Marine Fisheries Industry-led | Science | 80 | |||||
| Missing Salmon Alliance | 50 | 50 | |||||
| School Education (Fish in School Hero) |
50 | 50 | |||||
| Aquaculture challenges —water quality |
50 | ||||||
| UK River Woods —Catchment | restoration | through tree planting | 45 | 80 | |||
| Secretariat for the All Party Parliamentary | Group on Fisheries | 40 | 33 | ||||
| Marine Fisheries Management | 30 | ||||||
| Discretionary Grants |
26 | 34 | |||||
| Ocean Projects | 25 | ||||||
| CatZero | 20 | ||||||
| Shellfish Aquaculture industry |
support | 20 | 22 | ||||
| Welfare and Safety | 20 | ||||||
| Leaders in Industry Continuing |
Professional | Development | 19 | ||||
| Discover Seafood Website | 12 | 11 | |||||
| Bermuda Institute ofOcean Sciences Maldwin |
Drummond | Award | 10 | 10 | |||
| Oceans Projects International | |||||||
| Marine Fisheries National Good Practice |
(Fisheries Policy) | 90 | |||||
| Seafood Training School at Billingsgate | 122 | ||||||
| Financing Catchment Management |
65 | ||||||
| Salmon Acoustic Tracking Project | 20 | ||||||
| Local Authority Engagement |
15 | ||||||
| Human Rights at Sea |
8 | ||||||
| Fishing News Awards | 3 | ||||||
| Small Grants (&f2k) | 14 | 27 | |||||
| Grants to organisations | 733 | 795 | |||||
| Scholarships | |||||||
| Grants to individuals | |||||||
| Apportioned support costs |
33 | 29 | |||||
| Total Grants | 774 | 824 |
| 2022 | 2021 | |
|---|---|---|
| f000 | f000 | |
| Fisheries Projects | 285 | 45 |
| Project Support Costs | 325 | 265 |
| Total Fisheries Projects | 610 | 310 |
| 2022 | Billingsgate | Market | Grants | Fisheries Projects | Total | |
|---|---|---|---|---|---|---|
| f000 | f000 | f000 | f000 | |||
| Staff Costs | 27 | 27 | 265 | 318 | ||
| Administration | expenses | 4 | 4 | 40 | 48 | |
| Car expenses | and travel | 1 | 1 | 9 | 11 | |
| Other expenditure | 1 | 1 | 11 | 13 | ||
| Total Support | Costs | 325 | 391 |
| 2021 | Billingsgate | Market | Grants | Fisheries Projects | Total | |
|---|---|---|---|---|---|---|
| f000 | f000 | f000 | f000 | |||
| Staff Costs | 48 | 24 | 216 | 288 | ||
| Administration | expenses | 8 | 4 | 36 | 48 | |
| Car expenses | and travel | 1 | 1 | 6 | 8 | |
| Other expenditure | 2 | 1 | 8 | 10 | ||
| Total Support | Costs | 59 | 29 | 265 | 354 |
| . ANALYSIS OF ST |
AFF COSTS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| f000 | f000 | ||
| Salaries and wages | 273 | 251 | |
| Social security costs | 31 | 29 | |
| Other employment | costs | 68 | 63 |
| Total Staff Costs | 372 |
| 2022 | 2021 | |
|---|---|---|
| f000 | f000 | |
| Value at 1January | 590 | 660 |
| Revaluation | (140) | (70) |
| Value at 31December | 450 | 590 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| f000 | f000 | ||||
| Market Value | at 1January | 4,184 | 3,656 | ||
| Purchases | 4. | 4 | |||
| Sales | |||||
| Investment | management | fees | (36) | (36) | |
| Net unrealised | gains/(losses) | (505) | 561 | ||
| Market value | at 31December | 3,646 | 4,184 | ||
| Consisting of: | |||||
| Unrestricted | funds | 868 | 997 | ||
| Endowment | funds | 2,778 | 3,187 | ||
| Total funds | 3,646 | 4,184 |
| 2022 | 2021 | ||
|---|---|---|---|
| f000 | f000 | ||
| Trade debtors | 75 | ||
| Prepayments | and accrued income | ||
| 77 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| f000 | f000 | ||||
| Accruals | and deferred | income | 39 | 37 | |
| Amount | due to the Fishmongers' | Company | 45 | 457 | |
| Trade creditors | 24 | 15 | |||
| 107 | 508 |
| 2022 | |||||
|---|---|---|---|---|---|
| Balance | Income/ | Balance | |||
| 1January | Gains and (Losses) |
Expenditure | 31December | ||
| f000 | f000 | f000 | f000 | ||
| Income | Fund: | ||||
| General | Funds | 1,173 | 2,106 | (1,458) | 1,821 |
| 1,173 | 2,106 | (1,458) | 1,821 |
| 2021 | ||||||
|---|---|---|---|---|---|---|
| Balance | Income/ | Balance | ||||
| 1 | January | Gains and (Losses) |
Expenditure | 31December | ||
| f000 | f000 | f000 | f000 | |||
| Income | Fund: | |||||
| General | Funds | 1,282 | 1,134 | (1,243) | 1,173 | |
| 1,282 | 1,134 | (1,243) | 1,173 |
| 2022 | ||||||
|---|---|---|---|---|---|---|
| Balance | Income/ | Balance | ||||
| 1January | Gains and (Losses) |
Expenditure | Transfers | 31 December |
||
| f000 | f000 | f000 | f000 | f000 | ||
| Seafarers Donation | 5 | 22 | (27) | |||
| Simon Birch Memorial | Fund | 16 | (1) | |||
| 21 | 22 | (28) | 6 | 21 |
| 2021 | ||||||
|---|---|---|---|---|---|---|
| Balance | Income/ | Balance | ||||
| 1January | Gains and (Losses) |
Expenditure | Transfers | 31 December |
||
| f000 | f000 | f000 | f000 | f000 | ||
| Seafarers Donation | 31 | (26) | 5 | |||
| Simon Birch Memorial | Fund | 10 | 16 | |||
| 10 | 31 | (26) | 6 | 21 |
| Trust for | Unapplied Total |
Total | ||||||
|---|---|---|---|---|---|---|---|---|
| Investment | Return | Endowment | ||||||
| f000 | f000 | f000 | ||||||
| At 1January 2022: | ||||||||
| Gift component | ofthe permanent | endowment | 147 | 147 | ||||
| Unapplied total |
return | 115 | 115 | |||||
| Total at 1January 2022: | 147 | 115 | 262 | |||||
| Investment return: dividends |
6 | 6 | ||||||
| Investment return: unrealised |
gains | (28) | (28) | |||||
| Rebate and management | fee | |||||||
| Total | (21) | (21) | ||||||
| Identification of |
unapplied | total | return | 115 | 115 | |||
| Unapplied total |
return allocated | to income | in 2022 | (6) | (6) | |||
| Net movements | in 2022: | 87 | 87 | |||||
| At 31December | 2022: | |||||||
| Gift component | ofthe permanent | endowment | 147 | 147 | ||||
| Unapplied total |
return | 87 | 87 | |||||
| Total | 147 | 87 | 234 |
| Trust for | Unapplied | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Investment | Return | Endowment | |||||||
| f000 | f000 | f000 | |||||||
| At 1January 2021: | |||||||||
| Gift component | ofthe permanent | endowment | 147 | 147 | |||||
| Unapplied total |
return | 84 | 84 | ||||||
| Total at 1January 2021: | 147 | 84 | 231 | ||||||
| Investment return: dividends |
6 | 6 | |||||||
| Investment return: unrealised |
gains | 33 | 33 | ||||||
| Rebate and management | fee | (2) | (2) | ||||||
| Total | 37 | ||||||||
| Identification of |
unapplied | totalreturn | 84 | 84 | |||||
| Unapplied total |
return allocated | to income | in 2021 | (6) | (6) | ||||
| Net movements | in 2021: | 115 | 115 | ||||||
| At 31December | 2021: | ||||||||
| Gift component | ofthe permanent | endowment | 147 | 147 | |||||
| Unapplied total |
return | 115 | 115 | ||||||
| Total | 147 | 115 | 262 |
| 2022 | |||||
|---|---|---|---|---|---|
| Balance 1 | Balance 31 | ||||
| January | Income/Gains | Expenditure | December | ||
| f000 | f000 | f000 | f000 | ||
| Permanent | endowment | 262 | (28) | 234 | |
| Expendable | endowment | 2,960 | (356) | (25) | 2,579 |
| 3 222 | (384) | (25) | 2,813 | ||
| 2021 | |||||
| Balance 1 | Balance 31 | ||||
| January | Income/Gains | Expenditure | December | ||
| f000 | f000 | f000 | f000 | ||
| Permanent | endowment | 231 | 33 | (2) | 262 |
| Expendable | endowment | 2,589 | 394 | (23) | 2,960 |
| 2,820 | 427 | (25) | 3 222 |