REGISTERED CHARITY NUMBER: 500816
Re
rt of the Trustees and
Financial Statement f
ember 2024
for
Grimsb Sailors & Fi
hin
Chari
Xeinadin Audit Limited
8 Floor, Becket House
36 Old Jewry
London
EC2R 8DD

Grimsb Sailors & Fishin
Chari
Contents of the Financial Statements
for the Year Ended 31 December ?024
Page
Reference and Administrative Details
Report of the Truste&8
2to4
Report of the Independent Auditors
5t06
Stsiement of Financial Activities
Balance Sheet
8t09
Cash Flow Statement
10
Notes to the Cash Flow Statement
Notes to the Financial Statements
12to22
Detailed Statement of Financial Activities
23to24

Grimsb Sailors & Fishin
Charit
Reference and Administrative Details
for the Year Ended 31 Decetnber ?024
TRUSTEES
Mr D K Watl (Chairman-appointed 6 March 2024)
M5 M Lalor (re5i8ned 15 May 2024)
Mr D Johnson
Mr M Walters
Mr J Cane
Mr A J All8rd
Supt. S Brown (Port Missioner)
Mr S Dwyer
Mrs J Siansfield
PRINCIPAL ADDRESS
Office Suite
Alexandrn Dock Business Centre
Fishernians Ivharf
Grimsby
N E Lincs
DN31 IUL
REI GISTERED CIIARITY NUMBER
500816
INDEPENDENT AUDITORS
Xeinadin Audit Limited
8 Floor, Becket House
36 Old Jewry
London
EC2R 8DD
BANKERS
NatWe5t Bank Plc
66 Victoria Streei
Grimsby
Norih Easi Lincs
DN31 IBP
SOLICITORS
Wilkin Chapman LLP
Carlergate House
26 Chanlry Lane
Grimsby
DN312LJ
CHARITIES
ADMINISTRA TORIMANAGER
Mrs J Coulias
Page I

Grimsb Sailors & Fishin
Chari
ort of the Trustees
for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The
financial stateinents have been prepared with the accounting policies set out in note l and comply with the Charity's
trust deed and the Charities Act 2011. The trustees have adopted the provisions of Accounting and Reporting by
Cliarities.. Statement of Recomrnended Practice applicable to charities preparing their accounts in accordance witli the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019).
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Policies and objective5
Tlie objects of the charity are-
l. The provision of almshouses at Grimsby, Cleethorpes, Waltham, New Waltham and Scartho for aged retired sailors
and fish trade workers of the Port of Grimsby and their wives, or the aged widows of such sailors or fish trade woi'kers.
At present tliere are 153 dwellings.
2. Such charilable PUTposes for the benefit ofthe residents as the trustees decide. It is the policy ofthe trustees to maintain
and improve all the almshouses to a very high standard in Order that all the residents may live out their lives in coinfort
and dignity.
3. The relief of beneficiaries, resident in the area of benefi( who are in need, hardship or distress.
The trustees seek to continually improve and modemise the properties for which they are responsible.
Achievements
During the year properties vacated were extensively modernised prior to occupation by new residents.
Volunteers
The Charity does not currently employ volunteers or receive any donaled services.
Grant making policies
Weekly and quarterly grants are paid to support the children of deceased fishernien. Such grants do not affect the support
received from government sources. The trustees are empowered in their discretion to make grants of money. g¢)ods or
services to other beneficiaries living in ihe Borough of Grimsby and surrounding areas.
ACHIEVEMENT AND PERFORMANCE
Review of activities
The nct movement in funds for the year ended 31 December 2024 is a surplus of £298,057 (2023: £275,712) which has
been added to the Unrestricted Funds.
Investment policy and performance
Investments consist of:
Various bond, equity and alternative funds held through the Charities Aid Foundation and managed by LGT Wealtli
Management.
Tlie basic objective is to achieve a reasonable rate of return comrnensurate wilh an acceptable level of risk.
The policy is reviewed annually.
FINANCIAL REVIEW
Principal funding
The pi'inciple funding source of the charity is the contributions paid by residents towards the upkeep of the properties.
Page 2

Grimsb Sailors & Fishin
Chari
ort of the Trustees
for the Year Ended 31 Decem
er 2024
FINANCIAL REVIEW
Reserves policy
The charity will seek to create and add to its reserves in a prudent and responsible way in order to maintain and improve
all tlie almhouses to a very high standard and to continue the moral commitment it has to meet its declared objeetives.
Reserves are £9.404,665 at 31 December 2024.
Extraordinary repairs
Costs of extraordinary repairs, unless representing improvement to the properties are Charged to the Statement of
Financial Activiti&s in the year in which they are incurred. The Trustees consider that the currenl balance on the
Exlraordinary Repairs Reserve of £297,790 is sufficient to meet any foreseeable expenditure of this nature. It is not
therefore considered necessary to rnake any further Iransfers from the Generdl Fund.
Cyclical Repairs and Maintenance
The Charity has established a regular programme of cyclical repairs and maintenance. Costs are charged to the Statement
of Financial Activities in the year in which they are incurred.
Public Benefit Requirement
The Trustees have given due consideration to the Charity Commission published Guidance on the operation of the Public
Benefit Requirernent.
Restricted Reserves
The Restricted Reserve represents a social housing government funded grant. The aim of this grant is to assist with the
purchase and development of properties and may need to be repaid if subsequently sold.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Purpose and Constitution of the charity
The charity is controlled by its governing document, a deed of tr￿St, and constitutes an unincorporated charity.
The purpose of the Charity is to maintain almshouses in the Grirnsby area for use by retired sailors, fish trade workers
and their wives or widows.
On 16 December 2005 the Charity CommissioneTS for England and Wales granted that the Charity which was previously
known as The Grimsby and DistTicI Home for Poor and Aged Workers Fish Trade to be changed to Grimsby Sailors and
Fishing Charity.
On the saine date, The Charity Commissioners for England and Wales granted tliat the Charities previously known as:
Grimsby Fishermen's Dependents, Fund
Fisherinen's and Sailors, Almshouse Trust, and
Diamond Jubilee Provident Homes
be merged into the Grimsby Sailors and Fishing Charity.
On E April 2022 the Charity Commissioners for England and Wales granted that the Charity which was previously
known as Cleetliorpes Cottage Homes be merged into the Grimsby SailoTS and Fishing Charity.
Recruitment and appointment or election of trustees
The charity Trust Deed permits one ex olTicio tr￿SEe and up to nine C￿opted trustees. Co-opted trustees are appointed
by existing trustees. Trustees are chosen because of their connection with the sailing activities of Grimsby anivor
specialist knowledge which will be of benefjt to the Charity. Trust￿ do not receive training from this Charity.
Page 3

Grimsb Sailor5 & Fishin
Charit
ort of the Trustees
for the Year Elided 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have conducted a review of the risks to which the Fund is exposed. They believe that its funds are sensibly
invested.
Appropriate provision has been made to cover insurable risks.
Principal Activities
During the year the trustees have continued to maintain and improve 153 almshouses in accordance with their stated
policy and plan to continue for the foreseeable future.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trusrees and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wale4 the Charities Act 2011, Charity (Accounts and Reports)
Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each
financial year which give a true and fair view of tlie state of affairs of the charity and of the incoming resources and
application of resources, including ihe income and expenditure. of the charity for that period. In preparing those
financial statements, the tTUStees are required to
select suitable accounting ￿)licIeS and then apply them consistently.
observe thc methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial stalements;
prepare tlie financial statements on the going concern basis unless it is inappropriate to presume that the charity
will coiitinue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the financial position of the charity and to enable them to ensure that the financial statements comply with tlie Charities
Act 201 I, the applicable Charity (Accounts and Reports) Regulalions 2008 and the provisions of the trust deed. They
are also responsible for safeguarding the assets of the charity and hence for thking reasonable steps for the prevention
and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the Charity and financial inforniation included on the
Charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of
financial infonnation.
Approved by order of the board of trustees on
and signed on its behalf by.
2 3,,'gjis
Hrbcllrtt
Page 4

Re ort of the Inde
endent Auditors to the Trustees of
Griinsb sailo￿ & Fishin
Charit
Opinion
We have audited the financial statements of Grimsby Sailors & Fishing Charity (the '¢harity') for the year ended
31 December 2024 which comprise the Slatement of Financial Activities, the Balance Shee¢ the Casli Flow Statement
and notes to the financial statements. including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards
{United Kingdom Generally Accepted Accounling Practice).
In our opinion the financial statements-
give a true and fair view of the slate of the charity's affairs as at 31 December 2024 and of its incoming resources
and applicatioii of resources for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under ihose standards are further described in the Auditors responsibilities for the audit of tlie
financial 5tateinents section of our report. We arc independent of the charity in accordance with the eihical requirements
tljat are relevant to our audit of the findnLial slatemenls in the UK, including the FRC'S Ethical Standard, aiid we liave
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to golng concern
We have nothing to report in respect of the following matters in relation lo which the ISAS (UK) require us to report to
you where:
the trustees, use of the going concern basis of accounting in the preparntion of the financial statements is not
appropriate. or
the trustees have not disclosed in the financlal statements any identified material uncertainties that may cast
significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period
of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other infonnation. The other infomiation Comprises ihe infonnation included in the
annual report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statemenls does not cover the other information and, except to the extent otherwise explicitly
stated in our report, we do not express any fonTJ of assurance conclusion thereon.
In Connection witli our audit of the financial statements, our responsibility is io read the other infonnation and, in doing
so, consider whetlier the other inforniation is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatemenls, we are required to determine whether there is a material misstatement in the financial
statements or a material misstatement of the other information. If. based on the work we have perfornied, we conclude
that there is a material misstatemenl of thi5 Other infomiation, we are required to report that fact. We have nothing to
report in this regard.
Page 5

ort of the Inde
endent Auditors to the Trustees of
Grimsb Sailors & Fishin
Chari
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to yoii
if, in our opinion.,
the inforniation given in the Report of the Trustees is tnconsistent in any material respect with the financial
statements. or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the inforniation and explanations we requiTe for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Tr￿SteeS Responsibilities, the trustees are responsible for the preparation of
the financial statements which give a true and fair view, and for such internal control as ihe trustees detemiine is necessary
to enable the preparation of financial slatements that are free from material misstatement, whether due to frnud oi. error.
In preparing the financial statements, the trustees a￿ responsible for assessing the charity'5 ability to continue as a goiiig
concern, disclosing, as applicable, matters related to going cuncern and using the going concern basis of accouiiting
unless the trustees either intend to liquidate the charity or to cease operatio￿, or have no realistic alternative but to do
so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a wholc are free from material
misstatement, whether due to fraud or error, and to Issue a Report of the Independent Auditors that includes our opinion.
Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS
(UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or etTOT and are
considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users tsken on the basis of these financial stslements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at Www.frC,org.u￿auditQr5re5pOnSibl[ltie$. This description fornis part of our Report of the
Iiidependent Auditors.
Use of our report
This report is made solely to the charity's trustee5. as a body. in accordance with Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been undertaken so ihat we might state to the charity's trustees those
matters we are required to state to Ih¢m in an auditor5, report and for no other purpose. To the fullesl extent permitted by
law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for
our audit work, for this report, or for the opinion5 we have formed.
Xeinadin Audit Limited
8, Floor, Becket House
36 Old Jewry
London
EC2R 8DD
Date:
zi foifiHEpF
Xeinadin Audit Limited is eligible to act as an auditor in ternis of Section 1212 of the Companies Act 2006.
Page 6

Grimsb Sailors & Fishin
Chari
Statement of Financial Activities
for the Year Ended 31 Decem
er 2024
Unrestricted
funds
Restricted
funds
31.12.24
Total funds
31.1223
Total funds
Notes
INCOME AND ENDOWMENTS FROM
Other trading activities
Investment income
708,740
3,238
708,740
658,671
Total
711,978
711,978
663,214
EXPENDITURE
Charitable activities
Other costs
493,894
85,167
49J,894
487,789
Total expenditure
579 061
579 061
573 341
Net income before gains and losses on
Investmentslsale of fixed assets
132,917
132,917
89,873
Net gainsl(losses) on Sale of fixed assets
Net gainsl(losses) on investmenls
165 140
165 140
185 839
NET MOVEMENT IN FUNDS
298,057
298.057
275,712
RECONCILIATION OF FUNDS
Total funds brought fornard
8,266,299
840,309
9.106,608
8,830,896
TOTAL FUNDS CARRIED FORWARD
8 564.356
840 309
9 404,665
9.106,608
All activities are classed as continuing activities. The statement of financial activities includes all gains and losses
recognised during the year.
Page 7

Grimsb Sailors & Fishin
Charit
Balance Sheet
At 31 December 2024
Unrestrided
funds
R￿trIcted
funds
31.12.24
Total funds
31.12.23
Total funds
Notes
FIXED ASSETS
Tangible assets
Investments
5,317,081
3,098.724
840.309
6,157,390
3,098 724
6,157,390
2 913.584
Total Fixed Assets
8,415,805
840.309
9,256,114
9.070,974
CURRENT ASSETS
Debtors
Cash at bank
io
32,021
271501
32,021
271,501
29,509
161.935
303.522
303.522
191,444
CREDITORS
Ainounts falling due within one year
(87,142)
(87,142)
(86,854)
NET CURRENT ASSETS
216380
216.380
104,590
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,632,185
840,309
9,472,494
9.175,564
CREDITORS
Amounts falling due after more than one year
12
(67,829)
(67,829)
(68,956)
NET ASSETS
564,356
840,309
9 404,665
9.106 608
THE FUNDS OF THE CHARITY
Unrestricted funds
Restricted fund5
13
8,564,356
840,309
8,266,299
840,309
TOTAL CHARITY FUNDS
9,404 665
9 106.608
Page 8

Grimsb Sailors & Fishin
Chari
Balance Sheet - continued
At 31 December ?0?4
The financial statements were approved by the Board of Trustees on
and were signed on its belialf by..
Page 9

Gritnsb Sailors & Fishin
Charit
Cash Flow Statement
for the Year Ended 31 De
ember 20?4
31.12.24
31.12.23
Notes
Cash flows from operating activities:
Cash generated from operations
134,848
91,595
Cash tloivs from investing activities:
Purcliase of iangible fixed assets
Sale of tangible fixed assets
Purchase of fixed assel investments
Sale of fixed asset investments
Investment activity
Interest paid
(i26,309)
(20,000)
20,000
4,543
3,238
8,520
Net tash provided by (used in) invL8ting
activilies
25,282
310485)
Change in cash and cash equivalents In the year
109,566
(218,890)
Cash and cash equivalents at the beginning of
the reporting period
161,93S
380,825
Cash and cash equivalents at the end of the
reporting period
271,501
161,935
The accompanying accounting policies and notes forni an integral part of these financial statements.
Page 10

Grimsb Sailors & Fishin
Chari
Notes to the Cash Flow Statement
for the Year Ended 31 December 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.1224
31.12.23
Net movement of funds (as per the statement of financial activities)
298.057
275,712
Deduct investment income shown in investing activities
Add back interest paid
(3,238)
8,520
(4,543)
8,719
Deduct gainsladd back losses on investments
Deduct gains/add back losses on sale of fixed assets
(165,140)
(185,839)
Decreasel(increase) in debtors
Increasel(decrease) in creditors
(2,512)
(16,017)
Net cash provided byl(used in) operating activities
134 848
Page 11

Grimsb Sailors & Fishin
Charit
Notes to the Financial Statements
f r the Year Ended 31 December 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to ¢haritie5 preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),. Financial
Reportiiig Standard 102 'The Financial Reporting Siandard applicable in the UK and Republic of Ireland, and tlie
Charities Act 2011. The financial statemenls have been prepared under the historical cost convention with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.
Going coneern
The trustees consider that there are no malerial uncertainties about the Trust's ability to continue as a going
concem.
Income
All income is recognised in the Ststement of Financial Activities once the charity has entitlement to the fuiids, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are reeognised as expenditure as soon as there is a legal or constructive obligation committing ihe
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and h&5
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular Iieadings they have been allocated to activities on a basis consistent with the use of
resources.
Allocatlon and apportionment of eosts
Resources expended are allocated on an actual basis according to the nature of the cost. No estimation tecliniques
are used. Costs of charitable aclivilies include grants made and costs associated with housing properties.
Governance costs include all overhead and support costs. Liabilities are recognised as resources expended as
soon &s there is a legal or contractual obligation committing the charity to the expenditure.
Page 12

Grimsb Sailors & Fishin
Chari
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
ACCOUNTING POLICIES- continued
Investments
Fixed asset investments are stated at market value.
Gains and losses on investments sold during the year are recorded as realised and represent the difference
between the Cost of or the market value of the investment held at the previous year end and the sale Pr￿eeds.
Any income arising within the investment portfolio is automatically reinvested and is accounted for as part of
the change in the market value of investments.
Tangible fixed assets and depreciation
No depreciation is charged on the propertie5 as thc residual values are not materially different from the carrying
amount.
Refurbishment expenses are not capitalised as such expenses are not separately identifiable within housing
property costs and are regarded as maintenance of residual values.
All properties are stated at historical cost.
Tangible fixed assets are stated at cost less depTeciation. Depreciation is provided at rates calculated to write off
the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases".
Freehold property - noi depreciated
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance
of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
The aim and use of each designated fund is set out in the notes to the financial statements.
Resti'icted funds are funds which are to be used in accordance with specific restrictions imposed by donors or
which have been raised by the charity for particular purposes. The costs of raising and administering such funds
are charged against the specifiL fund. The aim and use of each ￿striCted fund is set out in the notes to the financial
statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 13

Grimsb Sailors & Fishin
Chari
tes to the Financial Statevnents - continued
for the Year Ended 31 December 2024
ACCOUNTING POLICIES- continued
Maintenance contributions
Maintenance contributions are recognised in the Statement of Financlal Activities on a receivable basis.
Housing Properties
At present there are one hundred and fify three dwellings. These comprise of twenty six modern centrally heated
bungalows at Manor Drive and Leas Close, one at 20 Fainvay and one at 23 Westfield Road. Walthain, seven
bungalows at Toll Bar Avenue. one bungalow at Louth Road and one bungalow at Waddingham Place, New
Waltham, one bungalow at Elder Road, Grimsby, twenty ihree bungalows at Cleethorpes (35 Brian Avenue, 2
Pliilip Avenue, 23 Lynton Rise, 1-23 Coronation Road (odd numbers) and 76-90 Mill Road (even numbers) and
fifteen bungalows at Scartho (seven bungalows in Lavenham Road. 6 Westbourne Grove, 26 and 32 Coniston
Avenlie, 16 Rivan Avenue, 2 Emfield Road. 28 Fallowfield Road and 6 and 9 Thirlmere Avenue).
There are forty-three dwellings al Doughty Road, six flats at Weelsby Court and six flats at Joseph Cobley Court
(Hainton Avenue/Sixhills Street), Grimsby. There are also ten bungalows at Castle Street and seven liouses and
five flats in Weelsby Street, Grimsby.
Value Added Tax
The Charity is not regislered for VAT. In these financial statements, where applicable, expenditure is shuwn
inclusive of VAT.
Legacie5
Legacies are taken into account on an accruals basis when received by the Charity and are included in the
Statenient of Financial Activities at the gross value received.
Grants
Grants iowards repair costs are recognised in the year in which the costs are incurred.
ACTIVITIES FOR GENERATING FUNDS
31.12.24
31.12.23
Maintenance contributions
Donations and legacies
708,643
97
658,446
225
708,740
658,671
Page 14

Grimsb Sailors & Fishin
Chari
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
INVESTMENT INCOME
31.12.24
31.12.23
Profit on sale of investments
Bank Interest Received
3,238
4.543
4,543
CHARITABLE ACTIVITIES COSTS
31.12.24
31.12.23
Water charges
Insurance
Electricity - Outside lighting
Individual weekly benefits
Individual quarterly benefits
Institutional RNMDSF grant
Rcpairs and maintenance
Council Tax- empty properties
Window cleaning
Gas service contract
Resident line rental
CareLink charges
Garden maintenance
53,177
18.518
3,567
9,217
5,300
15,000
313,655
5,308
8,169
17,940
12,930
19,937
47,863
16,859
3,774
10,816
6,400
14,000
316.064
2.438
6.507
17,940
13,734
20,905
10,489
493 894
487,789
OTHER COSTS
31.12.24
31.12.23
Wages
Auditors, remuneration
Office rent and cleaning
Telephone
Postage, printing, stationery and advertising
Miscellaneous expenses
Legal and Profcssional fees
Bad debt expense
Almshouses Association subscription
Loan interest
49,778
3,900
6,180
835
6.274
1,495
6,489
47,891
3,900
5,927
.245
4,887
996
10,267
14
1,706
8,719
1,696
8,520
85,167
Page 15

Grimsb Sailors & Fishin
Charit
Notes to the Financial Statements - c
ntinued
for tlie Year Ended 31 December 2024
TRUSTEES, REMUNERATION AND BENEFITS
31.12.24
31.12.23
Trustees, remuneration
Tru$tees' expenses
31.1224
31.12.23
Mileage
The niimber of trustees who had expenses paid for the year ended 31 December 2024 was nil (2023: nil).
STAFF COSTS
31.12.24
31.12.23
Wages and salaries
49.778
The average monthly number of employees during the year was as follows:
31.12.24
31.12.23
Administration staff
No employees received emolumenls in excess of £60,000.
The key management personnel of the Charity comprise the trustees, Gencral managerlcharities administrator
and assistant. The total employees, salaries paid to the key management personnel of the Charity wcrc £49,778.
Page 16

Grimsb Sailors & Fishin
Chari
Notes to the Financial Statements - continued
for the Year Ended J l December 20
TANGIBLE FIXED ASSETS
Freehold
property
COST
At l January 2024
Additions
6,157,390
At 31 December 2024
6.157,390
NET BOOK VALUE
At 31 December 2024
6.157.390
At 31 December 2023
6.157.390
At present there are one hundred and fifty three dwellings. These comprise of twenty six modern centrally heated
bungalows al Manor Drive and Lea5 Close. one at 20 Fairway and one at 23 Westfield Road, Waltham, seven
bungalows at Toll Bar Avenue, one bungalow at Louth Road and One bungalow at Waddingham Place, New
Waltham, one bungalow at Elder Road, Grimsby, twenty three bungalows at Cleethorpes (35 Brian Avenue, 2
Philip Avenue, 23 Lynton Rise, 1-23 Coronation Road (odd numbers) and 76-90 Mill Road (even numbers) aiid
fifteen bungalows at Scartho (seven bungalows in Lavenham Road, 6 Westbourne Grove, 26 and 32 Coniston
Avenue, 16 Rivan Avenue, 2 Emfield Road, 28 Fallowfield Road and 6 and 9 Thirlmere Avenue).
There are forty-three dwellings at Doughty Road, six flats at Weelsby Court and six flats at Joseph Cobley Court
(Hainton Avenue/Sixhills Street), Grimsby. There are also ten bungalows at Castle Street and seven houses and
five flats in Weelsby Street, Grimsby.
The Charity's property is vested in the Official Custodian for Charities and was insured during the year for
£29,420,681 (2023: £29,259,681).
Page 17

Grimsb Sailors & Ftshin
Chari
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
FIXED ASSET INVESTMENTS
Investments
MARKETVALUE
At l January 2024
Revaluation
Addiiions
2,913,584
165.140
?0.000
At 31 December 2024
3 098,724
NET BOOK VALUE
At 31 December 2024
3,098,724
At 31 December 2023
2 913.584
There were no investment assets Outside the UK although funds invested through CAF and managed by LGT
Wealth Management may be held in overseas fiinds.
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24
31.12.23
Other debtors
32.021
29,509
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24
31.12.23
Other creditors
87.142
86,854
12. CREDITORS: AMOUNTS FALLING DUE A￿ER MORE THAN ONE YEAR
31.1224
31.12.23
Other creditors
67,829
68,956
Other creditors falling due after more than one year consists of loans secured on certain Charity housing
properties.
Page 18

Grimsb Sailors & Ftshin
Charit
Notes to the Financial Statements - continued
for the Year Ended 31 December 20?4
13.
ANALYSIS OF CHARITY FUNDS
Ineoming Resources
Tr¥nsfers
Gainsl
At 1.1.24 Resources
Expended Inl(Out) (Losses) At 31.12.24
Designated funds
(note 15)
952,221
(70.193)
157,644
1,039,672
General funds
7,314,078
711.978
(508,868) (157,644)
165,140
7.524,684
8,266.299
711,978
(579,061)
165.140
8,564.356
Restrieted Funds
840,309
840,309
9,106,608
711,978 (579,061)
165,140
9,404,665
Comparatives for movement in funds
Incoming Resources Transfers
GaiThsl
At 1.1.23 Ruources
Expended Inl(Out) (L055es) At 31.12.23
Designated funds
(note 15)
868,693
(67.072)
150,600
952,221
Cener£l funds
7.121,894 663,214
{506,269) (150,600) 185,839
7,314,078
7,990,587 663,214
(573,341)
185,839 8,266,299
Restricted Funds
840.309
840,309
8,830,896 663.214
(573,341)
185,839
9,106,608
Page 19

Grimsb Sailors & Fishin
Chari
Notes to the Financial Statements - continued
for the Ye
rEnded31 D
cember 2024
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
funds
31.12.24
Restricted
funds
31.12.24
Total
funds
31.12.24
Total
Funds
31.12.23
Tangible fixed assets
5,317,081
840.309
6.157,390
6.157,390
Fixed asset investments
3,098,724
3,098,724
2,913,584
Current Assets
303.522
303,522
191,444
Creditors due within one year
(87,142)
(87,142)
(86,854)
Creditors due in more than one year
(67,829)
(67,829)
(68,956)
8,564J56
840J09
9,404,665
9,106,608
Comparative for net assets between funds
Unrestricted
funds
31.12.23
Restricted
funds
31.12.23
Total
runds
31.12.23
Total
Funds
31.12.22
Tangible fixed assets
5,317,081
840.309
6,157,390
5,831,08 I
Fixed asset investments
2.913,584
2.913,584
2,747,745
Current Assets
191.444
191,444
394,317
Creditors due within one year
(86,854)
(86,854)
(72,223)
Creditors due in more than one year
(68,956)
(68.956)
(70,024)
8,266,299
840,309
9,106,608
8,830,896
Page 20

Grimsb Sailors & Fishin
Chari
Notes to the Financlal
tatements - continued
for the Year Ended 31 Decem
er 2024
15.
DESIGNATED RESERVLS
Cyclical
Repairs and Extraordinary
Maintenance
Repair5
Reserve
Reserve
Total
Designated
Reserve
Balance at l January 2024
654.431
297,790
952,221
Resources expended
(70.193)
(70,193)
Transfer from General fund
157,644
157,644
Balance at 31 Decetnber 2024
741.882
297,790
1,039,672
Comparative of Designated Reserves
Cyclical
Repairs and Extraordinary
Maintenante
Repairs
Reserve
Reserve
Total
Designated
Reserve
Balance at l January 2023
570,903
297,790
868,693
Resources expended
(67,072)
(67,072)
Transfer from General fund
150.600
150,600
Balance at 31 December 2023
654,431
297,790
952,221
16.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
17.
CYCLICAL REPAIRS AND MAINTENANCE RESERVE
This reserve represents amounts set aside for cyclical maintenance to meet costs in excess of biidgeted
expenditure for any year.
Page21

Grimsb Sailors & Fiihin
Chari
Notes to the Financial Ststements - continued
f r the Year Elided 31 December 20?4
18.
EXTRAORDINARY REPAIRS RESERVE
This revenue reserve repr￿ents amounts set aside to carry out major repairs on housing properties.
19.
RESTRICTED RESERVES
This reserve represents a social housing grant which was credited to the Statement of Financial Activities when
it was received. The aim of the grant is to assist the purchase and development of properties and 15 I'epayable
under certain circumstances, primarily following the sale of a property but will nornially be Testri¢ted to net
proceeds of sale.
Page 22

Grilnsb Sailors & Fishin
Charit
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
31.12.24
31.12.23
INCOME AND ENDOWMENTS
Other trading activities
Maintenance contributions
Donations and legacies
708,643
97
658,446
225
708,740
658,671
Investment income
Profit on sale of inve51ments
Dividends received
Bank Interest Received
3,238
3,238
Total ineoming resources
711,978
663,214
EXPENDITURE
Charitable a¢tlvitles
WaÉer charges
Insurance
Electricity- Outside lighting
Individual weekly benefits
Individual quarterly benefits
Institutional RNTh4DSF grant
Repairs and maintenance
Council Tax - empty properties
Window cleaning
Gas service Contract
Resident line rentsl
CareLink charges
Garden maintenance
53,177
18.518
3,567
9,217
5,300
15,000
313,655
5,308
8,169
17,940
12,930
19,937
11,176
47,863
16,859
3,774
10,816
6,400
14,000
316,064
2,438
6,507
17,940
13,734
20,905
10,489
493,894
487,789
Support costs
Governance costs
Wages
Auditors, remuneration
Office rent and cleaning
Teleplione
Carried fonvard
49,778
3,900
6,180
835
60,693
47,891
3,900
5,927
1.245
58,963
This page does not forn] part of the statutory financial statements
Page ?3

Grimsb Sailors & Fishin
Char
Detailed Staternent of Financial Activities
for the Year Ended 31 December 2024
31.12.24
31.12.23
Governance costs
Brought forward
Postage, printing, stationery and advertising
Miscellaneous expenses
Legal & professional fees
Bad debt expense
Alinshouses Association subscription
Loaii interest
60,693
6,274
1.495
6,489
58,963
4,887
996
10,267
14
1,706
8,719
1,696
8,520
85,167
85,552
Total resources expended
579,061
573,341
Net income before gains and losses
132,917
89,873
Unrealised recognised gains and losses
Unrealised gains/(losses) on fixed asset investments
165,140
185,839
Realised galn5 and losses
Profit on sale of fixed assets
Net income
298,057
275,712
This page does not form part of the statutory financial siatements
Page 24