Charity Reglstratlon No. 526379
THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
McLintocks
Xeinadin Group

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms L Cc¥)k
Mr D Barbour
Mr I C Higby {Chaimpn)
MrJRHuln
Rev C A Palling
Ms Sharon Coverey
{Apw)inted 19 Soptombor 2023)
Patron
The R￿ht Honournblg The Earf of Dety
Secretary
Mr M Finn
Charlty numb8r
526379
Principal address
Suite 315
Okj Hall Street
LNerpcKJl
L3 9FU
Independent examiner
Hekn Furhjng FCCA
McLint(th INW) Ltmrted
46 Hamilton Square
Birkenhead
Wirral
MerseyswJ8
CH41 SAR
Bankers
Barc*ys Bank plc
Merchants Court
2-12 Lord Streei
LNerpool
MèrsÈysKle
L2 1TS
Solicitors
Brabne￿ LLP
Horton HoLtse
LiveEp(K)I
Mer5eJsKle
L2 3YL
Invgstmént advlsors
Quilter Cheviot
5 St Pauls SquaFe
Liverpool
Merseyside

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
CONTENTS
Trustees. report
Independent examinets report
Statemgnt offinawal acts￿be$
Balan(* sheet
Notes to the finanCt￿ Stat￿￿nts
7-17

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their 155th repK)rt Sin￿ the fomalion of the InstitLrtlon Sn 1869, abng wth the finan￿al
ststefflents of the Charity for the year 8nW 31 December 2023.
The InstitutTon was founded in 1869 and incxjrporated under Royal Ctr￿rter dated 13 Dacember 1921. rts goveming
instrument is ils Roy81 Charter. as amended subsequentty.
The financial st8temÈnts havè been prepared in *thrdan¢e 7Mlh the ao))unting [x)fi￿e$ set out in note I to the
financ￿￿1 statements and compty with the Insttiubon's goveming d￿mefit. the Charibes Act 2011 and "Accounting
and Reports'ng by Charities: Statement of Reo)mmended practi￿ applicable to charibes preparing their a0￿unts in
accordancè wsth the Finarrfyal Reporttng StandaEd appl￿ble in the UK and Republi¢ of Ireland IFRS 1021" (as
amended for accounting perK¥ts coTnm8nciTrJ Irom 1 January 2016)
Objectives and *ivities
The object for ￿leh thè Insttiution is established and intwKJrated continues to be to support the sons and
d3￿hlerS of deceased BrÈbsh Seafa￿rS. by prowdiTrJ help with edutstK)n cx)sts and maintenance. Since 2000
support was exlended to the fishers. Help is provided in thè form of grants payabk f￿rn the Charivs unrestricted
funds togèther with any legaaes or iftsbtutK￿1 grants that are re￿ed.
The polictes of the Instrtution. induding the grants payab￿, are detemiined by Ihe Tn￿tees, who act in an honorary
capacity and meet at regular inlervals to n￿rtOr the aTrdirs of the Institution. but responsibility for the day to day
runniro of the Inst5tulx)n 15 delegated to the S8c*etary.
Thg trustees have paid dua r8gard to guidance i5sugJ by ￿ Ch•ty Commission in decKling what acIMt￿S the
Institution shoutd undertake.
Aehi•vern8nts and perforn)an
During the year, 4 new benefi¢¢ries' joined our grant pr(yJrnmmè against 5 leavers. 2 of th8 leavers. following a
mbined 17 yÈar5 of RLSOI supw)rt. successfulty completed Iheir educatk)n arKI gaining employrnent or started on
a company apprenticeship scherrE. A lurther sbjdent secJJr8d a university p￿CeMent and transferred to the RMNEF
for ￿ntInued assistance.
During the year 2 b6n8ficiarie5 were wilhdrawn from t)ur 5UPPX)rt scheme due to improved hous8hold arcumstances
and in knovAedge that tha chikys edu(*tion and lrfe opp(Kiunibes remained Ur￿MprOMISed.
Overdll this resutted in a total of 65 YOUEMJ person's receivirg our Supp￿ at the end of2023. as against 66 in 2022.
The RLSOI remains very pmud of an inspiriro list of achlevements by those ￿nefiCi￿rreS now hawng completed
their education and posttNety oJntribubng to soTrety. How we can rerM)rt this is restrictNe due to rightful priva¢y but
we encourage and a￿Ry9 Wek￿ orY￿￿j updates from our femo teneficiaieslsctrK)kgTS.
Annual Gèn8rn1 Mething
Our Annual General Meet"ng was o)ndu¢Xed online by. Z￿M on the 19th September 2023. Presided over by the
RLSOI Chaimian. Mr lan Higby. the Annual Rewrt 8nd h£counts for 2022 wer8 approved. MCLint￿kS were re-
appointed as the Auditors.
An executNe summary vras read oul by the Sec¥etary icgether wtth a proposal for [￿le¢hon of Ihe Committee.
The proposal was fvlty (*rried with rKJ abstenttons.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial r8Vi•W
Incoming resources showed a de¢xBase of £74.619 WFnpared wth the prevhjus year. this has mainty ar￿en from a
fall in giant funding. Resources expended irK7eased by £797. Overall the￿ was a net outgoing rèsource of
£113,347 txjmpared net (Krtgoirg of£37.931 in 2022.
Our invèstrnents increased in value by £62.985 and overall our r￿t assets fell by £50.362. The yÈar4nd positK)n is
shovm in the Balance Sheet on page 6, and is regarded as satsfactw when considering the incoming resource
volatilty triggered by the Unexpect￿ loss of our Largest grant giving sjpporter. At 31 De￿mber 2023 the charity
free reserves st(xxl at £1,004,18412022 £1,084.171).
The Trust88's rK)Ircy to draw on thè Insbtubon's funds whenever ￿S(x)abI* a￿1 n6(*wry to halp maintsin and,
wherever possible, enhan￿ the level of grants we make to chikfren, wntinues. The total income of some of our
fafflilies is still inadequate. ar￿ the efforts of the Tnth are (xjnstantty directed towards the provision of funds to
ensure thal the education of the children dces not unduly suffer. That said. with a L2rge Un￿rtaInty on fvturo
incotning funds, rt has become necessary to the level of our 2024 grant whilst work continues to 5ecur8
improved and more assured addtlN)nal fun(ling.
The resources avadablg for d￿trIbUtio[l arp regI￿rty rBview8d by ts Qxnmittee.
Reserves policy
Thé gènèral unrestrthd fijnds are free rèsor￿$ of Ihe d)arity (after d￿￿etir￿j the walue of fixed assets) 8rMf the
Trustees ba￿nce the need to maximise those reserves. to ensure su￿￿ent fvnds are availabk to cover grants
payab￿ and adminBtration costs for Ihe foreseeable fu￿￿. with a policy, were raasonab￿, of suppkménJrKJ
income from those reserves in order to maintain and enhance the kvel of grants.
Investment policy
The Trustees have appointed an irthpendenl Irweslment Manager to cary out all irwes￿nts on their behaK. as
nominees for the Instttutson. The InVeth￿rlt Manager reports reguL3ty to the Trustees, and in this way, the T￿￿teeS
ensure all investments are managed in a￿)rda￿ wilh their avaiLgble P)We￿ and responsibilities.
The Institution has prepa￿d a written pofiGy slalemenl o)vering ts investments wth the Investment Manager. wh￿h
follows a socially r6sponsibLq investmènt wlicy gmng due consKleralK)n towards srtial, enwtonrnental and ethi¢21
matters within slo¢ks and shares in which the Institutions funds are invested. The fijnds are invested in a wide
range of UK securities with the main objective of ath￿ng a satisfactory tolal return through the realisation of
shares to supplement income as and when required. The Trustees consider the retum on invesbn9nts has been
satisfactory.
The trustees have ￿eSSed the mafty risks lo vthich the Irtsbtutth is expowl. and a￿ safi5ffied that 5yStem5 are
pLqce lo mitigate eXp)Su￿ to the rn8ior risks.
Sl[uc￿[e. governance and rnanagement
The Inststulion is o)rtsolled by its &￿eming (h))Jmert a deed of Irust. th constittrtes an unlnthrpor2ted chariiy.
Th8 trust8es s8Ned during lh& year and up to thè data of siynalure ofth8 finanry81 ststernents were:
MrTCHart
(Deceased 7 2023)
Ms L CIK)k
Mr D Barbour
Mr I C Higby (Chairman)
Mr P O Copland
MrJ R Hulmes
Rev C A Palling
Ms Sharon Coveney
IResNJnèd 27 June 2023)
IApFKNntsd 19 September 20rJ}

Dr4ft FlnAn¢lal Stst¢ments
THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
TRUSTEEV REPORT (coKnNUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
any dwiges in legi51atson. nles aThJ rwlation whA* may affect the 1ns1iitrti￿.
¢gby (chai￿￿)
olé

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ROYAL LtVERPOOL SEAMEN'S ORPHAN INSTITUTION
I report to the tnJstee5 on my examination of the financtal statements of Th Royal LNerwol Seamen's Orphan
Insb"tub"on (the InststutK)nl for the year ended 31 December 2023.
Responsibilities and basis of report
As the tTUStees of the Institulh?n you are resp*)nsib￿ for the preparalion of the ftnanoal ststetnents in
ac￿¥danCE wtth the requifements of the CharÉtièsAct 2011 (thè 2011 Acti.
I report in respect of my examination of Ihe lns1ilu￿n'S financial statements camed out ur¥lor se¢tion 145 of
the 2011 Act. In carrying out my exarnination I have fi￿￿)Wed all the appltcable Directions gNen by the Charity
Commiss¥)n under seC￿n 145151(bl of the 2011 ACL
Independent examinerf$ statsment
Your att6ntion is drawn to the fact th8t th8 thatity has wepared ffiaThial State￿nts in acix)rdance with
Accounting and Reporbng by Charibes preparing their accounts in ￿ance with the Finanoal Repoiting
Standard appli(xble in the UK and Republic of IreLAnd IFRS 1021 in prefere￿￿ to Ihe Ac(x)unting and
Reporting by Charibes: Statement of Recx)mmeThded Pr￿1￿ iwjed on 1 April 2005 whth is referred to in the
extant regulations but has now been ￿thdraWn.
understand that this has been done in cKder for finanoal statements to pmwdè a truè and fair viéw in
acwrdance with Generalty ALWted Accounting Pracaice effeclive for reporbng peTh)ds beginning on or aftar 1
January 2015.
I have tt>mplètsd my 8x8min81ion. l (*)nfimi th81 ￿ nwtter3 have ￿)rne to my attentv)n in ￿nnectiOn wtth the
examination gmng rne cause to believe Ihat in any material respectr.
accounting r￿rdS were not kept in respect of the lnsttubon as r￿￿￿ed ty Secti￿ 130 of the 2011 Actr.
or
the financial statements do not acwrd wrth those records" or
the finanaal statements do not compty the appl￿ble requlrements (x)n¢emrng the fom #nd ¢onlent
of acwunts set out in the ChaTibes IAc(K)unts and RepxNtsI ReguLitions 2008 other than any requirement
that the aco)unts gNe a true and fair view which is Th)t a matter o)rnSKlered as part of an independent
examination.
I have no concems and have come across no olher matters in C￿llection with Ihe examination lo whi(*
attention strK>uld be drawn in this report in order to enable a proper uThJerstanding of the financAal statements to
be reached.
H¢len Futbng FCCA
McLinlocks {NWI ￿mited
46 Hamilton Square
Birt(enhead
Wirral
Merseyside
CH41 SAR
Dated.. ILI:.o.4:

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTrruTION
STATEMENT OF FINANCIAL AcT￿￿lEs
FOR THE YEAR ENDED 31 DECEMBER 2023
Total Vnre5trithd Endowment
fund$
funds
2022
2022
Totsl
funds
2023
fund5
2023
2023
2022
Incom2 from:
Donations and bgaaes
InvestsNents
44,670
104.936
44.670
104.936
121.420
102,805
121.420
102,805
Total income
149.606
149.606
224225
224,225
Ewndlturo on:
Raising funds
Charitable acbvit
4.166
253,031
5.756
2.382
256.628
3,146
5.528
2￿.628
253,031
Tgtal expenditujp
257.197
5.756
261953
259.010
3,146
262,156
Nel gainslllos8esl on
11
27.&)4
35.381
61985
143.444)
{43,7371
{87.1811
Net incomel{expenditurel and
mov8m•nt in funds
(79.987)
29.625
150.362)
178229} (46,8831 1125,1121
Re¢on¢iliation of funds=
Fund baLar￿ al 1 January
2023
1,084.171 1,414.722 2,498,893
1,162,400 1,461,605 2,624,005
Fund balan¢g5 at 31
December 2023
1.004.184 1,444.347 2.448,531
1,084.171
1,414,722 2,498,893
The sts19￿￿t of finawal arbvtbes indutks all gall￿ and losses recognksed in the year. All In￿Me and expenditu
derive from continuirbg activities.

Drnft Flnatt¢l41 St4tsments
THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITLrrioN
BALANCE SHEEr
AS AT31 DECEMBER 2023
2022
Fltrd a88ets
Tan9ibb assets
In￿ents
13
14
2.431959
2.447.322
1432.W
2.447.327
Debtors
Cash at bank and in hand
15
8,079
16.048
CredIto￿. amounts fallln9 fwlth
one year
10.017
787
Net currentass8ts
1S.$67
51.
2.448.531
2.498.893
The funds ofthe In5titsrtlon
Endcp•myentfund5
17
1.444.347
1.(M)4.184
1,414.722
1,084.171
Z448.S31
1498,893
C Hrgby {Chaimian

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policiès
Charlty Information
Th6 Royal LiverFwI Seamen's Orphan Instrbjlion is a Charity in￿1￿[￿Nated under Royal Charter.
1.1 Ac¢ountlng convention
Thé finanual statemerbts have been p￿pared in aox)rdan￿ wKth th& 1r￿tSb￿n'S tgoveming do(aJmenti. the
Charities A¢t 2011. FRS 102 Tre Finantial Rep￿ting Slandard applKzble in the UK and RepublK of Ireland"
I'FRS 102.} and Ihe Chartss SORP "Accountiry and R8tK)tting by Charits'es: Ststement of Recommended
Practi(￿ applicable to charities preparing th￿r accounts in a¢xithn(* with the Finanoal Reporting Stsnd8rd
applicable in the UK Republic of IrekrvJ IFRS 1tr21" leffectwe 1 January 20191. The Insbtubon is a Public
Benefit Entity &% defined by FRS 102.
The Institutton has taken advants￿ of ths provNorts in the SORP for chanb.ès not to prepare a Statement of
Cash Flows.
The finanaal staternents are prepared in sterb"ng. whith is the fu￿t￿)nal (JJrrerKy of thÈ Insb.tUti￿. Monetary
amounts in these finanual statémènts are rounded to the nearest £.
The financi31 ststèments have teen pRpared urmler the hk8torKal cost wr¢vention, r￿dffied to indude certain
financtal instruments al fair vatue. The prirripal accounting [K)r￿e$ adoptsd are set out below.
12 Going ¢oncern
Al the timè of approvir¥J ts finan￿al statements. the trustees have a reasonaNg axp8cktion that the
Institution has ad￿uate resources to continue in OFerdtional exi51ènce for the foreseeable future. Thus the
trustees oxjnb.nue to adopt the going Ix)nLwn basi5 of accounting in preparing the fin8n¢ial statèments.
1.3 Charitable funds
Unrestrict&J funds arg awailabb for LL88 al di5trelion of the trjstees in furtherance of their ¢haritabl8
objective5.
Restrict￿ fvnds are subject lo specrfic ￿nd￿01￿% by th)nors Of granlor5 as tr) how they may be used. The
purposes aThJ uses of the restricted funds are set out in the notes to the finanual stalement&
Endowment funds a￿ subject to speafic c)JnditK)ns by domrs that the c4ital must be maintained by the
Institution.
1.4 Income
Inwme is reLrynised when tha Instr￿trOn is *alty enliuwj to it after arhy perfOrn*n￿ conditions have been
mel. the amunts be n￿Sured reliabty. WKI il probab￿ that ino)me will be received.
Cash dona1ions are recogni5ed on receipL Other donatiorts are recogni5e(l once thè Institution has been
notffied of the don8b"on. unkn performancE (xjndttsons require deferral of the amount. Income tax rècoverable
in tpkb.on to donations received under Grft￿d (* deeds of covenant is recc¥JnLwI at the time of the donation.
Lègaciès are rec¥Jgnised on r￿lpt or Other￿￿e rf the Institution has trfftn notified of an impending
distribution, the amount is known. and receipt is expeded. If ￿ amount is not known, the legacy is treated as
a contingent asset.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accourrting policies
IContinu8d}
Interest on funds he]d on depw)sit IS ￿￿￿ded when reixivable and th8 a1￿U[rt rneasured reliabty by thè
tharity. this is normalty on notthcab.on of the interest paid or payab￿ ty the ban
Divid8fKls are rwnised once the dNideThJ has been declared and rK)tific2tion has been receNed of the
dividend due. This is rK)rFHally upL¥) rvJlifyxbon by our inves￿nI afvi8or of the di￿deAd yiekl of the
investment portr01￿.
1.5 Expenditure
Lkabilities are re0)gnI8￿ as expendllure as SO￿ as there is a W or D)nstructNe obltgation wmmitting the
Chaiity to that axpendilure. it is probable that a transfer of eu)nomic beneffts wll be required in settlement
and the amunt of the oblyatitin can ￿ meas&Jr￿I reliabty. Eynditure i% accounted for on an accruaL8 basis.
All expenses induding suP￿rt costs are albca￿l to the PartiC￿lar expe￿Ilture heajing.
Granb payable are pa￿Thts rn* to Ihird p3rlies fft the fijr1her8￿ ofthe tharitab￿ obiocts ofthg Charity.
The costs of generating funds ¢on*t of imiestsnent mafwjemerrt costs.
The ￿sts of tharitsbk acbvibes indude grants made. govemance costs and supFort costs.
1.6 Tanyibl& fixéd assets
Tangible fixèd a￿ts are In￿allY measur&1 at cost aThJ sub5equenty rrEasured at cost or valuation. net of
deP￿CIatIOn and any impairmenl losses.
DepreciatK)ri is recognisod $0 as to wrtte off the rxlst or va￿a￿on of assets less their residual values over their
usgful lives on the followro bases".
Fixbjres and fittir*Js
Computèrs
20% on CA)St
20% on ujsl
The gain or loss arising on the disFrf)sal of an asset is deteTminwJ as the rfrfference befvRen the sale proceeds
and the caryirvj value of the a&seL artd is wnised in the 51atetnent of financial ￿tivItieS.
1.7 Fixgd asset investments
Fixed a￿t investmènts ar8 intttalty nwsur&l at transaction pr￿e excbjdirg transaction costs. and are
subsequenuy measured at fair value al each rewbng d8le. Changes in fair valL* are rets)gnu%ed in nel
incoméllexpéndiiure) for the year. Transaction u)sts are axpansed as inujrred.
1.8 Impairni•nt of fixed assets
Al eath reporbng end date, the Insbtution rev￿ the carying an￿LInts of ts iangible assets to determine
whether there is any indication that those &%sets have Suffered an impairment *)55. If any such indicaton
exists, thg Ipwverabk alr￿Ll￿t of the asset is es*"mated in Order to determine the extent of the impairn*nt
loss (sf any).
1.9 Cash arKI cash gquivalents
Cash and cash equN8tents indude Kn harnl. deKK)siU% hekl at ￿11 vAth banks, otr*r short-tem Iluid
inv8stsn8nts Wtth orKJinal maturibes of three nw)nths or less. bank overdrafts. Bank overdrafts are shrhvn
within borrowings in eurrenl liabilstzes.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS {cO￿lNuED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcles
IContinu•dl
1.10 Finaneial instruments
The InslitutK)n has ekcted to appty the provish?ns of Section 11 'Basic Fina￿￿al Irthments. and Section 12
'Other Finanoal Instruments Issues, of FRS 102 to ￿1 of its finanoal instruments.
Financi81 instruments are rec(yJnised in the Insbtulion's bala￿ sheet when the InstitutK)n becomes party to
the contractual provisi0r￿ of the instrutnenL
Financial assets and liabilities are offset. with fv net amunts presenled in the finanaal statements. when
there is a legally enforceable right to set off Ihe rewgniwl amounts and thgrg is an inlgntion to settle on a net
basis or to realise the &￿t and seth the liabilty gmultang)usly.
8aslc financlalassets
Basic financial assets, vthK* indiKle debt0￿ arKI rnsh ar￿ bank b￿kn￿. are initialty measufed at
transaction pricé including transactKsn o)sis are subwuentty carri&l at amortised cost using the effectNe
interesl rr*thod unless the arrangement Ix)rkstilut* a financing Itansaction, where the transaction is
measured at the present value of the fvbJre receipts di%¥)unted al a market rate of interest. Financial a&fjets
Basic financlalllabllliles
B8sic finanaal liabilibes. indudiThJ creditors and bank h)ans are inibalty re[￿nIsed at transactK)n pri(% unb55
the arrangement (x)nSti￿eS a finan(ing ts8rtsadion. wh8rè lh8 dèbt instnJm8nt is m8asurad at the present
value of the future paymenls discounted at a market Trte of interest Financial fHbilrties classified 85 Payable
thin one year are not amorbse(l.
Debt irtstruments are subsequenty (wriwJ * aM(KtIs￿ ttjsl. using the effechve interest rate method.
Trade creditors are obligations to pay for wds or se￿1￿5 thal have txen a¢4uired in the or(linary (x)utse of
opèrations from suppliers. Amunts payable are classifEd as current liabilities if payment is due within one
year or less. If not. they are presented as nOn-￿rrent liabilibes. Trade Gredttors are rpw9nised inittally at
transaction pricè and subsequenuy measured at amort￿￿ (J)st using the effectsve irbterest melhc¥J.
Derecognition of financial liabililies
Financbal liabilitks are dere¢￿TrIS￿￿ when the Insti￿￿￿1￿.$ (xJntraL*al oUigatM)ns expire or ats dis¢h8rpJ or
cancelled.
1.11 Employee benefits
The cost of any unused holiday enliljement is r•xyJnisÈd in th8 porKrfl in lh& Èmpw's ser￿￿ are
TeM)Inab"￿ beneffts are recognised immedk?tety as an expense when the Instriution 15 demonslrdbly
committed lo terrninale the emploY￿￿nI of an empbyee orto provide lerminatitin benefits.
1.12 R8tirem8nt beneffts
Payments to defined contribution retirement benefft sthemes aFE charged as an expense as they fall due.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTrruTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Critical a¢¢ountlng estlmates and judg•m•nts
In the appli¢atK>n of the InslibJts(M's ac¢ounting pdicies. the Iruslees ar8 f8quired to make judgemènts.
estimates and assumptions atK)ut the caryrffJ amtsunt of assets and liabilities that are not readity apparent
fron7 Other 50urcès. The eslirnates aTKI a5socialed assumptions are based on historical experience and other
fa¢knrs that are Cons￿￿￿ to be relevant. AL1￿81 resutts may differ from these estimates.
The estimates and undetyng assumplK)ns a￿ reviesved on an owirhg basis. Revisions to a(yx)unting
estimates are recognised in tr* per¥)d in which the estimate i8 revised where the revisK)n affects onty that
period, or in the ￿riod of the revision arxl future periods where the r8vtsion affects toth current and futyre
PgrKyJs.
Income from donatlons andlggaeiès
Unrestricted Unrastrictod
fund5
funds
2023
2022
Donations and gifts
Grants r￿Nable
1.230
43,440
1.165
120.255
44.670
121,420
Grants receivable for corÈ actlvities
Seafaréfs UK
Trinity Housg
Honourable Gompany of Master Marinws
Inverctyde Bequest Fund
70.000
37.295
2.700
10,260
35.200
2.640
5.600
43,440
120.255
Income from InvoStm•nts
UnTPStricted Unrestricted
funds
funds
2023
2022
Income from Itsted invèsbments
104.936
102,805
10-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Raisiny funds
Totsl Unrestricted Endcertment
fuTh
funds
general
2022
Total
funds
nÈral
21)23
2023
2023
2022
Investmerbt marbagement
4,166
5,756
1382
3.146
5,528
4.166
5.756
382
3,146
5.528
Expenditu￿ on ¢haritable a¢b¥lti¢s
Support
gRnts
2023
Support
grants
2022
Grant funding of athl￿5 (see note 71
168270
172,010
Share of support and governance costs (see note 8)
Support
Governan(%
80227
4.534
80,340
4,278
253,031
256.628
Anatysls by fund
Unrestrided fijnds
253.031
256,628
Grnnts payable
2023
2022
Grdnts lo irKFivKluaL8
168,270
172.010
168.270
172.010
11

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support costs
Support Goveman
2023Supw)rt rJ)5ts (>)vemance
costs
2022
Staff costs
Secretarial f68S
Office costs
Bank ¢haryes
57.188
13.600
9.407
145
57.188
13.6
9,407
145
13.500
11.579
144
13.￿0
11.579
144
Irvlpp￿dènl gxaminerfs
fees
AGM expenses
Accountsncy and 18g
3.780
169
3.780
169
3.600
138
3.600
138
540
540
80.227
84.761
4.278
84.618
TrLths
None of the trustee5 lor any Fer50n5 0)nr￿ wilh bkn) receNed any remuneration or knefiL% from thè
Insttiution during thè year.
10 Employees
The average monthty number of empbw during the yearNYas:
2023
Number
2022
Number
Administration
Employmenl costs
2023
2022
Wages and salaries
Othèr ￿nSIOn uysts
18,795
36.209
16.652
40,536
55.004
57.188
There were no emph)yees wk*)se annual reMunernI￿ was nK)re than £60.000.
12-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11 Galns and losses on inve5tsnents
Total Unrnstricted Endowmènt
funds
funds
2022
2022
Totsl
fund
2023
funds
2023
2022
G8insllloss8sl ari$iTVJ on:
Revaluali)n of
investsnènts
Sate of investments
17.640
29.330
6.051
46,970
16,015
(58.1361
14,692
(53,078} (711,2141
9.341
24,033
27.604
35.381
62,985
{43.444}
143,737)
{87,1811
12 Taxatlon
The charity is gxempt from try2t￿ on its acfNitw Lwu5e all ris in¢J)me is applted for charitable putt￿.
13 Tangibh fixed assots
Cost
At 1 January 2023
2.503
2,115
4.618
At 31 December 2023
2.503
2.115
4,618
Deprnciation and impalrmènt
At 1 J8nuary2023
2.501
2,112
4,613
At 31 Decemt*r 2023
2.501
2.112
4,613
Carrylng amount
At 31 Decernber 2023
At 31 December21f22
13-

THE ROYAL LNERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Fixed assgt inve¥tments
Cash In
portfolio
Total
investments
Cost or valuation
At 1 January 2023
AdditK)ns
Valuation cha￿Je$
DisrKtsals
2.420,537
134,701
46,970
1203.402)
26,785
2,447.322
142,069
46,970
1203,4021
Al 31 De￿rnber 2023
2.398.806
34.153
2.432.959
Carrying amount
At 31 December 2023
2.398.806
34,153
2,432.959
At 31 December 2022
2.420.537
26,785
2,447.322
Fixed asset Investments revaluÈd
The investsnents have been valL*d at mart(et valL* by Quimer ChevioL WI￿ are an authorised investsnent
in5btubon, and the inveskn6nts are hebj by their rnminee company.
The hi5tortLa cost of the I￿￿￿j invesh1￿1ts was £2.117.110 (2022 £2.176.075}.
15 Debtors
2023
2022
Amounts falling due within one year.
Other debtors
Prepayments arK£ a(med inttjme
6.728
2,808
6.019
2,060
9,536
8.079
16 Credltors: amounts tdlllng dug wlthln on• year
2023
2022
Other taxation and scrfial se¢unty
Other U￿rtorS
A¢¢ruals and deferred incorr
1,310
416
90
6.261
8,611
10.017
6.767
14-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTrruTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
17 Endowment funds
End¢)wmonl fvrwts rgpr9sent assots whth wnust be hekl ￿￿nar￿itty by the Institutv)n. Income arising on the
endowment funds can be used in ￿rdancE the objecis of the Institution and is incEudgJ as
unrestricted income. Any capital gains or k)sses arising on the assets form part of the fvnd.
Ba*nce at Ile50ur¢es Gains aThd
Balanc¢ at
31 Dec•m￿r
2023
Perrnanent endowments
Endovnnenl fund
1.414.722
(5.756)
35,381
1.444,347
1.414.722
(5,756)
35,381
1.444,347
Comparative infomation in res￿ of ts prwling is as folkm:
GOI￿ and
Ba14n¢g at
2022
Pèmianont endowments
EndoW￿nt furxl
I,461,￿5
13.146)
{43,7371
1.414.722
1.437.051
12.853) {137.0521
1297.146
18 Unrestrteted funds
The unrestn.cted fund5 of the o*arity ¢x)mprise the unexpended balan￿S of donations and grants ￿1¢h are
not subject to spectfic condtbons by donows arxj grantors lo how rnay be used.
At 1 January
Incoming Resources
2023 rnsOur￿S ex￿nded
Galns and
lossès
At31
Dgcgmbgr
2023
General funds
1.084.171
149.6C6
1257,197)
27.604
1,004.184
Pr•vious y•ar.
At 1 January
Incoming Rèsourcès
2022 resources expended
Gains and
losses
At31
December
2022
General funds
1,162.400
224,225
1259.010)
143,444)
1.084.171
15-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
19 Anaty5is of net asset5 bèts¥een funds
Unrestrictrd Endowment
2023
2023
Total Un￿trthd Endowment
2023
2022
2022
Total
2022
Fund balances at
31 De￿mber
2023 ar8
represente(l ty.
Tangible assets
Investments
Currenl assetsllliabilibesl
993,17T 1.439,782 2.432.959
11,002
4,565
15.567
1.312.732
34,928
1.408.894
5.828
2.447.322
St.566
1.004,184 1.444.347 2.448.531
1.347,665
1.414.722
2.498.893
16-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
20 Opèrnting l•as• commikn•nts
Al the reporbng erKI date the Institutw)n had outstaThJtng commitments ts fiJknre minimum lease payirerts
under non-can￿lL?b1e operating leases. which fall due as folkxys..
2023
2022
Wrthin one
Bglwegn iwo and fve years
9,706
14.559
9.702
24,269
24,265
33,971
21 Related party transactions
Th8r& werè no dIsch)sab￿ rela￿j party transaclions duriryJ the year {2022- non8).
17-