REGISTERED COMPANY NUMBER: 01785592 (EDgland and Wales) REGISTERED CHARITY NUMBER: 514840 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR HOLYHEAD MARITIME MUSEUM LIMITED tj.fiPiri LLJilliomsdenEon
HOLYHEAD MARITIME MUSEUM LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees I to 3 Independent Examfiner's Report Statement of Finan¢lAI Actlvltles Balante Sheet Notes to the Financial Statements 8 to 15
HOLYHEAD MARITIME MUSEUM LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees wh4) are also directors of the cbarity for the purposes of th¢ Companics Act 2006, present their report with the financial statem¢nts of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Rcporting by Charitics.. Stst¢m¢nt of R¢comm¢ndd Practi¢¢ appltcable to charities preparing their accounts in accordance with th¢ Financial R¢porting Standard applicabl¢ in th¢ UK and R¢public of Ireland (FRS 102) (effectivc l January 2019). OBJECTIVES AfiD ACTIVITIES Obje¢tive$ and aims To advanc¢ th¢ Cducation of thc public in local maritime history by the provision of a museum. Public benefit The trnst¢¢s ¢onfirn) that th¢y have referred to the guidance contained in the Charity Commission's generdl guidance on publi¢ bcn¢fit when reviewing the Charity's aims and objectives and in planning future activitie5. ACHIEVEMENT AND PERFORMANCE Charilable aclivities erations Our 2023 season was the best achI¢V in t¢rn]s of foorfall with a 300/0 Incre on the previous year. Shop receipts also improved due to the increased footfall. This resulted in an overall increase in visitor generated income of 200/0. This year also saw a substantial increase in school visits with over 500 pupils visiting from local schools. The visits are hosied by two bilingual volunteers who liaise directly with tb¢ schools and prepare inforn]ation relevant to their needs. We offered an Open Day towards the end of the season with fr¢¢ ¢nty. This attracted a considerable number of visitors. It is an exercise that we will repeat this coming y¢ar. Cruise ships continue to visit th¢ port and the museum has seen a general increase in visitors from th¢m. A company of local guid¢s Commenced bringin8 their groups to the museum as part of their tour. Volunt¢er numb¢rs r¢main reasonably stable. However there are occasions when it becomes difficult to maintain a full duty roster. The Waterfront Bistro ¢ontiDues to operate su¢¢essfully. financially benefiting th¢ museum. Operating costs have seen a significant increase. The museum has been able to obtain some grant support to offs¢t this. We have been able to hold our entrance charges at the same rate for the last 516 years. Due to increased operating costs w¢ will need to raise these for this coming season. Museum D¢v¢lo m¢nt. Following th¢ failur¢ to attract Levelling Up Funds the museum has commenced looking at improving the shop, toilet and Bistro kitchen facilities. Efforts arc undcrway io investigate suitable funding for this. A significant investment was made together with the propri¢tor of the Harbourfront Bistro to purchase and install a special purpose canopy over the outside de¢king ar¢a. Thls has increased the revenue of the Bistro and w¢ have bc¢n ablc to secure an increas¢d rent du¢ to this. Association with External A encies Th¢ mus¢um continues its involvement as a stakeholder with Ynys Cybi Landscape Project. This is an initiative funded by the National Lott¢ry and managed by Anglesey County Council. We bav¢ gained some small grants for minor improvements. As part of this association the museum has contributed to a new initiative involving lo¢al schools by providing acccss and support towards pupils learning more about their local heritsgc. Maint¢nancc No significant maintenanc¢ work was undertaken. Museum National Accreditation Renewa] is now due in 2025. Marketin and Promotion The museum continues to maintain a high profile. mainly utilising its website and social media outlets. It has become clear that visitors to the museum are utilising Google Search Engine as a means of locating attractions on Anglesey. We continue to have very positive revi¢ws, both on Google and TripAdvisor. Page I
HOLYHEAD MARITIME MUSEUM LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW The accounts for the Museutn are divided into restri¢t¢d and unrestricted funds. The latter ar¢ th¢ most important for the purposes of th¢ members of the Museum since tbey r¢pwsent the general day-t(Fday running of the operation. Overall there was a n¢t surplus of £36,629 in unrestiicted funds during the year. Unrestricted fiinds at th¢ yellr end were £171,217 and are still within th¢ guideline of a minimum of three months running costs. Restricted funds decreas¢d during the year by £6,816 to £185,796 and ar¢ represented by tangible fixed assets and cash at bank. Reserves policy and going concern In lin¢ with good practice il is agreed that moni¢s ar¢ allocated towards a reserve the purpos¢ of which is to ensure Holyhead Maritime Museum continues to b¢ concerned with educating the public in local maritim¢ history. - To ensure cashflow - To cov¢r any unforeseen CircunlaneCS - To provide the opportunity to attractlidentify funding should ¢xisting funding be Subject to cutbacks To ensur¢ that should all fi]nding cease, the organisation would be able to fulfil all of its financial and legal obligations when winding up. The level of the reserve will be reviewed annually by the Board. Th¢ Trustees are of the view that there are no material unc¢rtainti¢s and therefore the Charity is a going conc¢rn. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument The charity is controll¢d by its governing document, memorandum and articles of association (dat¢d 24 January 1984) and constitute a limit¢d Company. limited by guarantee, as defined by the Compani¢s Act 2006. In tbe event of an insolv¢nt dissolution, th¢ members will each contribute £1. Recruitment and appointment of trustees Any existing trustee can nominate anyon¢ with knowl¢dge of maritime history to become a new trustee. The board of trustees will then vote on the nominated individual and if a majority of tLUSt¢¢s provided a quorum is present, vote in favour of this individual then they will be appointed as a trustee of the charlty. Any trustc¢s appointed shall hold olCe until the next annual g¢n¢ral mc¢ting and shall be eligible for re-election. The number of trustees shall not be less than three and not more than fifteen. Risk management The trnst¢es have a duty io identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01785592 (England and Wales) Registered Charity number 514840 Pag¢ 2
HOLYHEAD MARITIME MUSEUM LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Registered offiee Old Lifeboat Station Newry Beach Holyh¢ad Anglcs¢y LL65 IYD Trustees Mr G Williams Captain T W Roberts Mr D G Davies Mr E E Anthony Mr B R Hillier Mrs L F Hadl¢y (r¢sign¢d 31.12.23) Mr W G Thomas Captain P N Humphreys Mrs J B Jon¢s Mrs S Prince Mr O M Williams {appoint¢d 15.2.23) Company Secretary Mrs C L Roberts Independent Examlner Williams Denton Cyf Chartered Certified Accountants GlaslyTh Ffordd y PaTC Parc M¢nai Bangor Gwynedd LL57 4FE Solieitors TR Evans Hughes & Co Victoria Chambers Holyhead Anglesey LL65 IUR Approved by order of the board of tSteeS on .......... . and sigTh on its b¢half by". Mts S Prince - Trustee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOLYHEAD tIlAIUTIME MUSEUM LIMITED Independent examiner's report to the trustees of Holyhead Maritime Museum Limited ('the Company,) re)rt to th¢ charity trustees on my examination of the a¢¢ounts of the Company for the year ended 31 Decemb¢r 2023. Responsibilities and basis of report As the charity's trustees of th¢ Company (and also its dir¢¢tors for the purposes of company law) you are responsibl¢ for the preparation of the accounts in accordance with the requir¢m¢nts of th¢ Companies Act 2006 ('th¢ 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited und¢r Part 16 of the 2006 Act and are eligible for independent examination, I report in respe¢t of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 Cthe 2011 Act?. In caTrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) Ib) of the 2011 Act. Independent examlner's statement I have compl¢t¢d my examination. I confirni that no matters hav¢ com¢ to my attention in conn¢¢tion with the examination giving me caus¢ to believe: accounting r¢cords were not kept in resp¢ct of thc Con)pany as required by S¢¢tion 386 of the 2006 Act. or th¢ a¢¢ounts do not accord with thos¢ r¢¢ords; or the accounts do not comply with the accounting requir¢m¢nts of Section 396 of the 2006 A¢t other than any r¢quirement that the accounts give a true and fair view which is not a matter considered as part of an independent examinatioo or th¢ accounts have not been preparcd in accordance with the methods and principles of the Stat¢m¢nt of Recommended Practice for accounting and reporting by charities {applkcabl¢ to Charities preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Colin B¢ll FCCA Williams Denton Cyf Chartered Certificd Accountants Glaslyn Ffordd y Par¢ Parc Menai Bangor Gwynedd LL57 4FE Page 4
HOLYHEAD MAIUTIME MUSEUM LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Not¢s INCOME AND ENDOWMEIYTS FROM Donations and l¢gaci¢s 7,669 1,288 8,957 2,475 Charitable activities Education of Marilim¢ History 43,772 43,772 40,683 Other trading activities Investment income 31,189 48 31,237 29.605 Total 72,764 EXPENDITURE ON Raising fimds 6,132 6,132 6,751 Charitabl¢ Activities Education of Maritime History John Cave MemoTial Fund 39,877 6,737 1,415 46,614 71,216 500 Total 46,009 8,152 54.161 78,467 NET INCOMEI(EXPENDITURE) 36,629 (6,816) 29,813 (5.703) RECONCILIATION OF FUNDS Total funds brought forward 134,588 192.612 327,200 332,903 TOTAL FUNDS CARRIED FORWARD 171217 185 796 3S7 013 327.200 The notes forn] part of thes¢ financial statements Page 5
HOLYHEAD MARITIME MUSEUM LIMITED BALANCE SHEET 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted nds Notes FIXED ASSETS Tangible assets Heritage assets 12 13 30,172 993 180.984 211,156 993 202,182 993 31.165 180,984 212,149 203.175 CURRENT ASSETS Stocks Dcbtors Cash at bank and in hand 14 15 13,485 10,024 119,341 13,485 10,024 124 153 14.903 18,037 142,850 4,812 147,662 126,684 CREDITORS Amounts falling due within one year 16 (2,798) (2,798) (2.659) NET CURREIYT ASSETS 144 124 025 TOTAL ASSETS LESS CURRENT LIABILITIES 171,217 185,796 357,013 327.200 IYET ASSETS 171217 185,796 357,013 327,200 FUNDS Unrestricted funds Restricted fun(Ls 17 171,217 185 796 134,588 192 612 TOTAL FUNDS 357 013 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have nol required the company to obtsin an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Acl 2006. Th¢ trustees acknowledge their responsibilities for (a) ensuring that the cbaritsble company keeps accounting r¢cords that comply with Se¢tions 386 and 387 of the Compani¢s Act 2006 and preparing fmancial stat¢m¢nts which give a true and fair view of the state of affairs of the Charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which oth¢nvise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes forni part of these financial stat¢ments Page 6 continued..
HOLYHEAD MARITIME MUSEUM LIMITED BALANCE SHEET- contlnued 31 DECEMBER 2023 Thcsc financial statements have been prepared in arxordance with th¢ provisions applirabl¢ to charitable companies subject to the small companies regim¢. The fman tstements were approved by th¢ Board of Trnst¢¢s and authoris¢d for issue on . and were signed on its behalf by: Mrs S Prince - Trustee Captain T W Roberts - T ee Th¢ notcs forni part of these financial statements Pag¢ 7
HOLYHEAD MARITIME MUSEUM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitabl¢ company, which is a public benefit entity under FRS 102, have been prepar¢d in accordance with the Charities SORP (FRS 102) 'A¢¢ounting and Reporting by Charities: Statement of R¢¢ommended Practice applicable lo charities pr¢paring their accounts in accordance with the Financial R¢portin8 Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2015),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ir¢land' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once th¢ ¢harity has entitlement to th¢ funds, it is probable that the income will be received and the amount Can be measured reliably. Donations ar¢ r¢cognised when the charity has been notified in writing of both the amount and settl¢m¢nt date. In the event that a donation is subject to conditions that require a l¢v¢l of p¢rforniance before th¢ Charity is entitled to th¢ funds. the income is deferred and not recognised until thos¢ conditions are met. Expenditure Liabilities ar¢ r¢cognised as expenditur¢ as soon as there is a legal or constructive obligation committing th¢ charity to that expendirnre, it IS PTobabl¢ that a transfer of economic bcncfits will be required in s¢ttl¢m¢nt and the amount of the obligation can b¢ measured reliably. Expenditure is accounted for on an accrnals basis and has been classified und¢r h¢adings that aggregate all cost related to the category. Wh¢r¢ costs cannot be directly attribut¢d to particular headings th¢y have been allocated to tIvitI¢S on a basis consistent with th¢ of r¢souw¢s. Tangible fixed assets D¢pr¢¢iation is provided at the following annual rates in order to writ¢ off ¢ach asset over its estimated useful lif¢. Leasehold PTop¢rty Plant & ¢quipm¢nt Fixturcs and fittings Bistro ¢quipn]¢nt & finire 25 /0 on cost 25tl/o on Cost 20 /0 on cost Tangible fixed assets for use by the charity are stated at Cost or in cases where fed as8¢ts have been donated at valuation at th¢ time of acquisition, less depreciation. Th¢ cost of minor additions or thos¢ costing below £500 are not capitalised. Heritsge assets H¢ritage assets donated to the Mus¢um have not been capitalised and in tbe opinion of the Trustees th¢ considerable cost of valuation of the collection of heritage assets Can not be justified on cost benefit grounds. Heritage assets pur¢has¢d by the Museum with an individual value of £500 or greater have b¢¢n capitalised at histori¢ cost. Depreciation is not charged on heritage assets. An annual impairnient review is ¢arri¢d out by management. Stocks Stocks are valued at the lower of cost and n¢t r¢alisable value, after making du¢ allowance for obsolete and slow moving ltell. Taxation The charity is exempt from COTpofdlion tax on its charitable activities. Pag¢ 8 continued...
HOLYHEAD MAIUTIME MUSEUM LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTIIYG POLICIES - continu¢d Cash at bank fdnd In hand Cash at bank and in hand includes cash and short terni highly liquid inveslments with a short maturity of twelftb months or less from the date of acquisition or opening of the deposit or sin]ilar account. Fund accounting Unrestricted funds can b¢ us¢d in accordanc¢ with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of th¢ charity. Restriclions arise when specified by the donor or when fiu]ds are raised for particular r¢strict¢d purpos¢s. Further explanation of the nature and purpose of each fund is included in the notes to the financial ststements. Legal status of the ebarity Th¢ charity is a company limited by guarantee and has no share capital . In th¢ event of the charity b¢ing wound up, the liability in respect of the guarantee is limited to £1 per metnber of the charity. DONATIONS AND LEGACIES 2023 2022 Donations Lega¢ies 3,957 5,000 2,475 OTHER TRADING ACTIVITIES 2023 2022 Book & DVD sales Souvenir sal¢s Confectionery sales Bistro rent and cornmission Sunthy income 1,199 12,444 920 15A14 3,057 11,622 582 13.570 774 31,237 29,605 INVESTMENT INCOME 2023 2022 Deposit account interest Page 9 continued...
HOLYHEAD MARITIME MUSEUM LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Activity Grants Education of Maritime History Entrance fees Education of Maritime Htstory Entrance fees-gift aid rebate Education of Maritime History 15929 27,050 793 18,955 21,090 638 43,772 40.683 Grants received, included in the above, are as follows: 2023 2022 Federation of Museun Isle of Anglesey County Council National Manuscripts W¢lsh Government 348 1,814 267 13,51)0 6.750 12.205 18,955 RAISING FUNDS Other trading activities 2023 2022 PurchaKs 6,132 6.751 CHARITABLE ACTIVITIES COSTS Support costs (sec note 8) Di[t Costs Totals Education of Maritime History John Cave Memorial Fund 45J18 1,415 1,296 46,614 46,733 Page 10 ¢ontinu¢d...
HOLYHEAD MARITIME MUSEUM LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS Governance costs Education of Maritime History 1,296 NET INCOMEI(EXPENDITURE) N¢t incom¢l(¢xp¢ndi1u) is stat¢d aft¢T charging/{¢dl1ing). 2023 2022 Indcpcndcnt Examiners, remn Depr¢ciation - own¢d asscts 1,296 1,224 12,624 io. TRUSTEES, REMUNERATION AND BENEFITS There wer¢ no trust¢¢s' rcmuneration or other benefits for the year ended 31 December 2023 nor for th¢ y¢ar ended 31 December 2022. Trustees, expenses There were no trust¢¢s' exp¢ns¢s paid for thc year ended 31 Decemb¢r 2022 {£nil in the year ended 31 D¢c¢mb¢r 2021). ii. COMPARA TtVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted fldS Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 2.425 50 2,475 Cbaritable activities Education of Maritime History 40,683 40,683 Other trading activities Investment income 29,605 29,605 Total 72.714 50 EXPENDITURE ON Raising funds 6,751 6,751 Charitable a¢tivities Education of Maritime History John Cave Memorial Fund 64,479 6.737 500 71,216 500 Totsl 71,230 7,237 78,467 NET INCOMEI(EXPENDITURE) 1,484 (7,187) (5,703) Page 11 continued...
HOLYHEAD MARITIME MUSEUM LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestrict¢d Restricted funds nds Total funds RECONCILIATION OF FUNDS Total funds brought forward 133,104 199,799 332,903 TOTAL FUNDS CARRIED FORWARD 134,588 192 612 327,200 12. TANGIBLE FIXED ASSETS Fixtures Bistro equipment & thrniture Leasehold property Plant & equipment fittings Totals COST At l January 2023 Additions 344,410 56,244 62,744 26,269 25,000 489,667 At 31 December 2023 344 410 62,744 51,269 516 DEPRECIATION At l January 2023 Charge for year 151,502 46,970 62,744 26269 287,485 At 31 December 2023 158,388 31,269 305,165 NET BOOK VALUE At 31 December 2023 186 022 20,000 211,156 At 31 December 2022 192,908 202,182 13. HERITAGE ASSETS Total MARKET VALUE At l January 2023 and 31 December 2023 993 NET BOOK VALUE At 31 D¢¢¢mb¢r 2023 993 At 31 Dec¢mb¢r 2022 993 Page 12 continued...
HOLYHEAD MAIUTIME MUSEUM LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR EIYDED 31 DECEMBER 2023 14. STOCKS 2023 2022 Stocks 13,485 14.903 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other debtors Prepayments 4,500 801 4,723 3,688 1,539 10,024 18,037 16. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 2023 2022 A¢cru¢d expenses D¢f¢Tr¢d grants 2,398 400 2,009 650 2,798 2,659 17. MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unrestrlcted funds General fund 134,588 36,629 171217 Restricted funds Leasehold property fund John Cav¢ Memorial Fund 187,720 4.892 (6,736) 80) 180,984 192,612 185 796 TOTAL FUNDS 327,200 29,813 357 013 Page 13 continued...
HOLYHEAD MARITIME MUSEUM LIMITED NOTES TO THE FINANCIAL STA TEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 17. MOVEMEIYT IN FUNDS - continued Net movem¢nt in funds, included in the above are as follows: Incoming resources Resources expended Mov¢m¢nt in funds Unregtrieted funds General fund 82,638 (46,IKI9) 36,629 R¢stri¢ted funds L¢asehold propety fund John Cave Memorial Fund (6,736) 1,415 (6,736) 80 8,152 TOTAL FUNDS 83,974 54 161) Comparatives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestrieted funds General fund 133,104 1,484 134,588 Restricted funds Leasehold property fund John Cave Memorial Fund 194,457 5,342 (6,737) 450 187,720 4.892 199 799 (7,187) 192.612 TOTAL FUNDS 332,903 Comparative net movement in nds, included tn the above are as follows: Incoming resources R¢sour¢¢s ¢xpend¢d Movement in funds Unrestrieted funds General fund 72,714 (71,230) 1,484 Restricted funds L¢as¢hold propety fund John Cave M¢morial Fund (6,737) (6,737) 450 50 50 7.23 7.187 TOTAL FUNDS 72,764 78,467) 5,703) Page 14 continued..
HOLYHEAD MARITIME MUSEUM LIMITED NOTES TO THE FINANCIAL STATEMETr4TS - conllnued FOR THE YEAR ENDED 31 DECEMBER 2023 18. RELATED PARTY DISCLOSURES There were no related party transactions for the y¢ar ended 31 Decemb¢r 2023. 19. PURPOSE OF RESTRICTED FUNDS Leasehold ro rtv fund & Fixed assets fund These have been set up to assist in id¢ntifying those funds that ar¢ noi free funds and w¢r¢ pr¢viously accounted for as deferred capital grant income. It comprises the purch of the leasehold prop¢ty, fixtures and fittings, plant and equipment and any subsequent additions. John Cave Memorial Fund This is a bursary fund set up in honour of John Cave MBE, forni¢r president of the Holyh¢ad Maritime Museum. Th¢ pury)ose of this fund is to provide fimds to local school's to assist with education. Pag¢ 15