Charity R•glstration No. $26379
THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTrruTION
ANNUAL REPORT AND UNAUDtfED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms L Cook
Mr D Barbour
Mr I C HvJby {Chaimanl
MrJ R HuknEs
Ms Sharon Covwey
Patron
The R*Jht Hol￿rdb￿ Ead of Derby
Seeretary
MrMFIrn
Charity number
526379
Prlncipal address
The Cotton Exchgnge
Sute 315
Old Hal Street
LNery
Mersey%de
L3 9RJ
Indepertdènt examlner
Hèlen Furt0￿ FCCA
Xeina(En North Wesl LThiled
46 Hamilton Square
BiTkenhead
Wirral
MÈrseysMla
CH41 SAR
Bankers
Bardays Bank F
2.12 Lord Street
Mew￿de
L2 ITS
Sollcltors
Brabners LLP
H(Yton House
Excharoe Flags
Liverp¥J
melse￿de
L2 3YL
Invostment advisors
ijuiller Cheviot
s st Pauls Square
Mersyde

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
CONTENTS
Page
Truslees, resyMI
Indep￿dent examinerfs report
Statement of finar￿la1 ￿tiVItieS
Balance sheet
Notes to finanoal statements
7-17

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Tnjstees present lhe￿ 155th report thè fcmath)n of the InsbtulK>n ￿ 1869, a￿ng with the financial
statements of Ihe Charity forlhe ygar ended 31 DeCeM￿r 2024.
Thè Insulution was ft)unded in 1869 irwyaled urwjer Roya Ch*ter dated 13 Decernber 1921. Its govÈming
instrument is its ROW Chwtsr. as ameTrJed subsequenty.
The financial statements have bew pfypared n acc￿da￿e wilh Ihe acfyyJnttng p￿￿leS set OUÈ in note 1 to the
financtal statements and coryly WTth the InstitutK>n's yJvemirvJ th)cwnent. th¢ chaiib.es Act 2011 and "Accounting
nd Reporting by Charities.. Ststemènt of Recommended Prathce aw)IKaUe to charilies preparing their accounts in
accordance with th8 Financtal Reporting Standard aP￿Cable in the UK and R8publie of IrÈland (FRS 102)" las
amonded far ac¢y)unling perKJds ciNYmèwng from 1 January 20161
Obigctives and activiti•s
The object for which the Instllution is e$￿t￿l$hed and inrx)rrmted ￿ntinUeS to be to 9JPPOrt the sons and
daughters of ¢J¢ceased Biiknsh seafarers. by [￿0VKIll￿ wrth educalion costs and maintènance. sin￿ 2000
suptxNt was extended to the fishers. Hdp is F￿vided Mi fom ol grants payable from the Charity's unrestricted
funds together with any lega¢ies or Instituti￿al grants that are rec8ved.
The policies of the Institution. ind￿1ng thè grants payth. a￿ dctewfflw￿￿ by the Trustees. who act in 8n honorary
capacity and meet at regular inlervals to rwrmtor Ihe 3ffwr5 (rf the Instibjtion. but rèsponsibility for ￿ day to day
running Of the Irb5ti1ution is delegat8d to thè Ser¥etsry.
The ttLFslees have paid due regard to giAdaTKe isgjed by the Charity C￿)Miss￿ in deciding ￿at actlvittes the
Institlrtion should uridertake.

THE ROYAL LNERPOOL SEAMEN'S ORPHAN INSTITUTION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achlevements and perfonnancè
During Ihe year, 8 new bènefi¢ÉariÈs 9rydnt FX(NJramEr* ag￿nst 7 ￿ver% 5 of these leavers suceessful
completed their fomial educatiortr and gaNJ8d eMpk)Y￿￿t ￿ started on 4Jprenliceships. Collectivèly. these
youngsters had rèc*ved a total of 41 years of supp)rt arvj gilldan￿ ft(Mn the RLSOI. We remain very Proud of their
outcomes and the positive contribution to Stxiety ead) of them rthv makes. The many testimonials recèivèd from
the families arè inspirational.
None of our lèavers in 2024 chose to attend univerwty desT*te the Opp￿tun￿ to transfer to the RMNEF for
conlinue(l assistarKè.
During the yèar. one family WTth benefiiiaries We￿ witlvlravm from our support due lo improved I￿￿$￿hOld
circumstances and in the k￿Wledge that the chdd's educatK)n and lrfe QFvthttss remalned uncompromised.
Overall, this resulted in a tot2J of 66 dNldren receivrr¥J our al ts e¥KI crf 2024 againsi 65 in 2023.
The RLSOI remains very proud of the fj$l ofa¢hwements by fomw knefioaiies. Pincy restricts how w8 can 8nd
do report on indiwdual athievements. but we stil en￿￿r￿ge JNJ aw welcome ongomw upjales frc¥n our femer
benefKiariesl3cholars.
Annual General MeetÈng
Our Annual General Meeting was conducted onlire on Ihe 17th Seplemter 2024. Invitations to this event had ￿Èn
sent tts supporting grant ￿ganIsationS ￿Y wllic of more than £1C4). Any beneficiaries that had
expressed an Intere￿ also ￿ceIved an In¥llat￿.
Presided over by the Chaimian. Mr lan Hyby. the Annual RepL¥t arKJ Aw)unts for 2023 We￿ discussed and
approved. Xeinadin North Wesl We￿ re-app￿ted as the Irwj￿endent Examiners.
The Secrelary provided 8 summary of ￿￿ntS over the year r￿udIng an explanabon of the rwd to reduce ihe
siandard level of the tharilies grants at thg twinning of 2024. Sleps to protect the rnost Vulnèrab￿ housèholds
during thls period were elaborated on as were ￿anS to e]evale of the InS￿￿tKIn lo help attract rtew
sources of funding and addtb.ond Trustees.
FdlowrnJ the revièw. a prcy)sal 4Yas made the re-electi￿ of ￿ C(xnmrftee. The prrwsal was fully carried
wth no abstentions.
Flnanclal revlew
Incoming reSour￿S showed a increase of £11.128 c(xYtpared the previous year. RescHJrees expended
decreased by £55.256. Overal there was a net Outgoi￿ ￿$OUrCe 01 £41207 {20rd £113.347).
Our invastments increased in value by £126.144 and overall our net assets increased by £84,937. The yÈar-ènd
position is shown in the B¥anc¢ Sheel on page 6. and 15 regarded as satisfaciory when considering the incoming
resource volatility triggered by the UneXp￿d loss of our largest grant giving supporter. At 31 DeCem1￿r 2024 the
charhty free rèsèrv8s stood at £1.C122.67712023 £1.CKJ4.1841.
Rèserves pollcy
The general unrÈ$trth¢J funds are free reser¥es of the d￿rilY (after dedUL￿ng the v8hJ8 of fixed asselsl and the
Trustees balance the r*ed to maximise those reserye& to ensute suITiC￿nt lunds are available to cover grants
payable and administratim ensts for the foreseeat4e kn. wth a policy. v￿￿ r8a50nable, of Sukwlementing
income from Ihose reserves in order to mwntoin 8nd ert￿nCe the le￿ ofgrants.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Inv•slment polley
The Trustees have appointed an indèpèndent Inve5tmenl Manager to carry out all investments on their behalf. as
nominees for the Instiiutioft. The Investment Managei rew)rts regulaty to Ihe TnJst*s, and in this way. thè Tiuslees
ensure all investments are managed in ac(x)rdance wilh their availabte powers and responsibilities.
The Insbtution has prepared a written wliry statement covering its investmer7ts wth the Investment Manager. whith
follows a 50cialty responsible invesbment policy giving due ¢J)nsideration towards sctial, environrnent81 arsd ethical
matters within stocks and shatès in whith the Inslitutions fijnds ale invested. The furKls are invested in 3 wide
range of UK se(aJritie5 Wlth the main objeclive of achieving a satisfactory toial retsjm thr(xJgh the realisalion of
shares to supplement income as and when requiTed. The Twstees cty)SKler the relLEm on investments has bèèn
satisfactory.
The Iruslees have assessed Ihe Mai￿ risks to whith the Inslilufion rs exFwd, aNI are satisffed that systems are in
place to mitigate èxwre to the major risks.
Structure, g0￿ManCe and management
The Institution is controlled by its govemrng documenL a deed of IWSL ar￿ i))nstrtutes an unincorporatèd charity.
The ttustees who seNad during the year aThJ up to the dats of STgnature of the fmancial slatemènts Wete..
Ms L Cook
Mr D Barbour
Mr I C Higby Ichaimian)
MrJ R Hulmes
Rev C A Palling
Ms Sharon Coveney
{Resigned 18 June 2024)
The appointment of Ttust8es has to be agreed unanAnousty by Ihe ex￿ting Trustees. and any Trustee nominate
a potential new Trustee. No Trustee has any finanaal interèst in the Charity.
New Trustees are invited and enwuraged to attend short briefing sessions to familiarise themselves with the
Institution and the context wthin which it 4)er3tes. Tr Secrelary ensures that Ihe Committee is kept up to date
with any changes in legislation, rules and regulation which may affect the In5tittrtion.
The trustees. report was abpro
by the Board of Trustees.
Higby IChairn7anl
Trustee

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
I report to trustees on my examination of Ihe finanual slalements of The Royal Lwerpool Seamen's Orphan
Insliiulion lthe Institution) fw Ihe year ènded 31 De(*mber 2024.
Rèsponslbllltles and basls of report
As the trustees of the Instttut*)n y(4J are reSpO￿lb1? lor ￿ preparalh)rt of the financial statements in
ac¢ordancÈ with thè requir&Ments of the Charilies Act 2011 (Ihe 2011 Adl.
I report in respect ol my examination of the In5tibJbC￿'S fiwtyal statwnwts ¢airied out under seclion 145 01
the 2011 Act. In carrying out rry examin8tion I ha￿ foJkn¥ed al the a￿•cable DirectK)rts given by the Charity
Commission under se￿on 145(5llbl of the 2011 Ad.
Inde￿ndent examlnerfs statement
Your attention is drawn to the fact that tharity has prepared f￿anc￿ statements in accudance with
Accounting and Reporbng by Chartes prepaM9 their ac£4)unts in xcordance the FInar￿la4 Rep￿tts￿j
Slandard ¥ppli¢8ble in the UK and Republ￿ of Irdand IFRS 1021 ￿ pretEren￿ to the Attounting and
Reporting by Charities.. Ststement of Prkn issued on 1 Aprll 2CQ5 vknich is referred to in thÈ
extant regulations but has now been ￿ththawn.
l understand that this has been done in order for financial statements to provFde a tnJe and fair view in
accordance with GènÈraUy AccÈpt8d Acuiuntklg Pracbce effectNe for rep(Yting periods tRgiT7nirNJ on ar after 1
January 2015.
I have completed my examinatitx). I confffm that rn matters have to my attention in connBctiw with th8
ex8minats.on giwng me ￿￿Se to believe that in wly maten"81 res￿".
a¢¢ounling re¢ords wer¢ not kept in reSp￿t of the Institu￿ as requred by section 130 of the 2011 Act:
or
the financial statements do accord vthh those TeccKts"
the financial ststetnents dD not compty w(th the wplicable requuemÈnts exx)cÉmlng the form and content
ol accounts set out in the Charities IAw>unts and Rep￿s) Regulations 2t(J8 other than any rèquiremènt
that thè ￿UnIS give a true ￿ fair Mew wlich is wt a matter rthsidered as part of an independent
exam¢nakn.
I have no concems have ¢(¥ne across rn oitw mallers in comectw)n wilh the examin*ion IE) which
aitention should bè drawn in thi5 re[￿rt in oJdeT lo enable a WQPBt understsndin9 of the financial statements lo
reach￿.
Holèn Furlong FCCA
Xeinadin North Wesl Limited
46 Hamilton Squa
Birkenhead
Wirral
Merseyside
CH415AR
Dated: l%.....¥.....Z.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
STATEMEKf OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrèstrieted ErMlowmeDt
funds
2024
Total Unrestrlcted Endowm•nt
funds
funds
2023
2023
Tot
2024
2024
2023
Notes
In￿me trom:
tk>nattons and legaGies
InvÉstmènts
50.959
109.775
So.￿9
109.T15
44.670
104.936
44.670
104,936
Total income
160.734
1￿,734
149.606
149,606
Expendlture on:
Raising bjnds
Charitable activities
5.974
187.049
8.918
14.892
187.049
4.166
253.031
5.756
9.922
253.031
Total expenditure
193.023
8.918
201,941
257.197
5,756
262.953
Net gains on
investfflEnts
12
50,782
75.362
126.144
27.604
35,381
62,985
Ngt Incomol{èx￿nd1Iur9l and
moyement in funds
1&493
84.937
19.9871
29.625
150.3621
R￿0￿cl11allofi Of funds:
Fund balances at 1 January
2024
1.004.184 1.444,347 2,448,531
1.084,171 1.414.722 2.498.893
Fund balances at 31
De￿mber 2024
1.022.67T
1.510,791 2.533.468
1.1)J4.184
1.444,347
2,448,531
The statement of financlal ￿tiVitIeS inckjdes all gains and h)sses rec(gnsed in y8ar. All inLX)me and expenditu
dèrive from continuing actiwties.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
BALANCE SHEET
ASAT 31 DECEMBER 2024
2024
2023
Notes
Fixed assÈts
Tangible assets
Investments
14
15
2,474&19
2.432.959
1474554
2.432.964
Currènt assets
Debtors
Cash at bank and in hand
16
8.407
61.128
9,536
16.048
69.535
Cr•dltors: amounts falllry due withln
on• yÈar
17
(10.621)
{10.0171
Not eurrènt assets
58.914
15.567
Total assèts less current liabilities
2.533.468
2,448,531
Thé funds ot the Institutlon
Endtswment funds
Unr&stric18d ftjnds
19
1.510.791
1.022.6TT
1,444,347
1,004,184
2.533,468
2.448.531
The financial statements were approv8d by the trustees ... . ..
Mrl
Higby (Chairman)
tee

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Aceountlng polielès
Charity infomiatron
The Royal Liverpool seam￿.$ 0￿han Ir￿lIu￿ is a Charyty in(XXF*Nated undw Roy81 Charter.
1.1 Accoun￿n9 eonvention
The financtal statements have been PTepared in accordarKe *fjlh the Inststulion's IgovemiThJ (foajmenll, the
Charities Act 2011. FRS 102 'The Finamal Rep(xtYg Standanl appkable in the UK and Republic of Ireland"
C'FRS 102.1 and tho Charities SORP "Acr￿n￿ng and Reporbng by Charities". Statement of Re(x)mrnended
Practice applicable lo charities preparing their acc(xJnts in ￿(%)n1#Ar￿ with the Finanaal Reporbng Standard
applicable in the UK and Rèpublic of I￿land (FRS 102r leffective 1 Jarw 2019). The InsiilulK)Tr is a pUb￿C
Benefit Errtity as defined by FRS 102.
The Institution has takw advant*Je of the FKOVigCmS in the SORP tharities not to prepare a Statement of
Cash Fkjws.
The ffinancial slatements are prepared in sterfitwJ. whK* is the lunc11￿1 cuffenry of the Institution. Monetary
amounts in finand81 statements are rour•Jed to Ihe nearest £.
The financ1￿ statÈNpnts have been prepared ￿der the hislorical cost oywenlion. A￿dIfied lo incknye certain
finan¢yal instrumÈnts ai faT value. The aCc￿￿nIn79 aWed ar& set below.
1.2 Golng conc￿n
At the time of approving the fmancial statenHits. the trustees have a reasonable eXp￿tatIon that the
Institution has adequal8 r8sourcas to o)ntinue n ¢watm￿l e>istence for the foreseeable fulurg. Thus tt
trustees continue to a(kJpt th@ wirvJ COn￿n basis OfacU￿nI￿u in Ffepariro the fmancial staterr*nts.
1.3 Charitable funds
Unrestricted funds are availth for use at thè disc*ÈtK>n of Ihe tr￿feeS in furtherance of their ¢harltable
objectives.
Rèstricted funds are subject to spe0r￿ corKJil￿1￿ by or grdntcys as to how they may ba lised. Th8
purrx)ses and uses of the iestricte(I funds are set out in Ihe to ihe financial statements.
Endovnnent funds are subject to s￿￿ oiThlÈtions by that the capital must be maintained by the
Institution.
1.4 Incomè
Income is recognised when the InStiDJtic￿ is lègally entitled to rt after any perforrnance conditions have been
el, the amounts can ￿ measured rdi8EYy. wjd it is pr(*able Ihal ncome will be re¢¢wl.
Cash donations are recc¥Jnised on receipt. ￿her thnatw)ns are wognised thè Instibjtion has been
notrfied ofthe donat•)n. unless perfO￿nanCe lx>rKliti￿s requye defeThal of the amount. Income tax recoverable
in relation to donati￿$ received under GrR Ahl or de8Js of covenant i8 recAyJnisÈd 8t the timè of the th)natwJn.
Legacies are reco3ni5ed on re￿pt or (therwise rf In5tihkn has been notified of an impending
distribution. the affl￿nt is known. ar#J 15 expethd. If the amount is not knoym. the legacy is treated as
a wntingent asseL

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting polieles
Icontlnued)
Interest or> funds held on deposit is included when receiv*e and the anount can be measured reliably by the
charity. this is norm￿lY on noiificabon of Ihe wrtetest paKt OF payable by the bank.
Diwdend5 are rect￿niSed or￿e dNKlend has been dedared arKJ notifi(xtion has been re￿1ve￿ of the
dividend due. This is n(Kmally upon notffjcath)n by our ￿VeStMent thsor of Ihe dividend weld of the
investment potffdts.
1.5 Expendlture
Liabilities are re￿9￿l$ed as eXFendiiure as 500n as th￿e 15 a legal or rx)nstnJctN8 Obl￿at￿n committing the
Charity to that expenditure, it is pr(th￿e that a transfer of beneffts wll be requirèd in settlemert
and the amount of the obligation can bÈ measured ￿l¢abty. ExperKlittTe is attountgj on an accruals basis.
All oxpenses indud1r￿ suprK)rt cosls are alkncaled l01he part￿ar expenditure headir•J.
Grants payable are payments made lo Ihlrd the furthe￿￿ ofth8 tharitatle objects of Ihp Charity.
The ct>sts of generatiro furvjs of invesbTrent managÉM￿t costs.
The costs of chadtable actiwties in(knle grants maje. gOV￿n￿ support costs.
1.6 Tanglblo fixed a55ets
Tangtble fixed assÈts are initra1￿ measwed at aThJ subsewentty measured al ￿$t or valuation, net of
depTeciation and any impaiment k)sses.
Dapreciation is recognised sr> as to write off Ihe ttst or vauation of assets less their residual values over thelr
useful lives on the fckning bases..
Fixtures and fittings
Cornputers
20% cosl
20% cost
The gain or loss arising ￿ the disposal of an a5sel is dèt8m)ined as the differen￿ between ￿ sale wo¢eeds
and the carrylrrfj value of the assel. 8ThJ is reCogri￿d in Ihe ststement of financjal acliviiies.
1.7 Fix•d asset investments
Fixed asset investsvents are iniknaly measuTed at transactk)n wice exduding transath.on costs. and 81È
SLEbsequently measured at fair Wdlue at eath dale. Changès w) fair vdue are recwnised in nel
incomellexpènditur81 for the year. Tral￿d￿J￿ costs aR expensed as iNwrred.
1.8 Impaimient offix•d assets
Al each reporting end date, tt* Insti￿1￿ reviews the Garrytng anN)unts of its tangible a$￿ts to delermine
whether Ihere is any ind￿￿(￿ that those have suffered an impaimient loss. If any s￿h indication
exists, the recoverable aTfKxJnt of the asset is e5timate(J M order kn deterrine the extent of Ihe impairment
loss Irf arby).
1.9 Cash and cash equivalents
Cash and cash equivalenls indude cash in havj. depxSts held at cal ba￿$. other short-lerm liquid
investments vAth oryinal matur￿e$ of three morths ￿ kn. arKI barLk overdrafts. Bank ovwdrafts are shown
wilhin borrobmngs in current liabililies.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollctes
(Cofttlnued)
1.10 Flnancial Instruments
The Institution has elected to appty the prov15￿$ of 11 Basic FrwnGTal arKI Sertion 12
'Other Financial Instruments 1ssue5' of FRS 102 to an of its fina￿al instruments.
Financial instTuments are recogrised in the Inslltut￿'S balar￿e sheel when the Institutson bewm&5 party I
the c(mtracttJal prov[￿01$ of the ¥tstrumenL
Financial assets and ￿LI11￿e3 are offseL with Ihe anK)￿ts presented ￿ Ihe finanoal statements. when
there is a legalty enforceat4e right to set off the recognised amthmts ￿ there ts an intention to settlo on a net
basts or to realise ￿ a5SPt and sglll¢ thg liabl￿ty S￿￿U113ne0u5ty.
Baslc finenclal assets
Basic financial assels. whith irtdLKJe debtOf5 and ￿$h and bank baFance5. are inttially measured at
transaction price induding transa￿on costs aThJ are subsequenly carried at amortised cost using the effe¢Ove
interest method a[ran￿Ment ¢y)nslitutes 8 fina[￿1r￿j tRnsaclion. vthere the transaction is
measured at the p￿Sent value of fv￿re re￿Ipts ¢As(xwnled al a ma￿et rale of inleresL Finan(ial ass
cLgs5ified as receiv&le within one yew are not arTrJrtised.
Basic ffnanclal liabilitles
88sic financial liabilities, indudiry uwJit(¥5 aTrJ bank kjans are T￿0g￿￿￿ at transaction price unless
the arrangement constitutes a finanuro tr￿Ction, vthere the debi irtstrument Ès measured al fhe present
value of the futhre p8ymÈnts disc￿nIEd at a m8rkel rats of interesL Financial liat1￿tieS dassified as payable
within one year are not amortised.
Debt instrumènts 8rÈ sUbW￿l1￿Y carried 8t amcff1ls￿ cos( the ellective interest rate mothod.
Trade creditors we obl*Jations to pay for or $wv￿$ that have bèen acquired in thè i*dinary eDursÈ of
operations from suppliers. Amt)unts pay8bte ￿ tlassified as current liabililies if paymenl is due within one
year or less. 11 not. they are presented as non-uJThent liabilit￿S. Trade creditrffs are recx>gnised inibally 8t
transaction price and subseqtt8ndy moasured at arn￿11￿ cost usirvJ Ihe effective inlerest method.
Darecognltlon of flnanelalH8bffllfy¢s
Financial liabiliknes derecognised whw ts InstittrtKJn's ox)twtual 01￿￿at￿$ exFire or afe digtharged or
ancelled.
1.11 Employee benefrts
The cost of any unused hc4•Jay entllleTh￿I is recognised ￿ the perK*J in vthith the symployee's semces are
re￿Ived.
Temilnation benefts are reo>3niwJ iMn￿d￿a￿ty as w exK*nse the InstihJtkM is demonstrabty
otwnitted lo tsrlninate the employment of an emphjyee or to wowde temiination beneffts.
1.12 R•tlrem•nt b•néfit$
Payments to (kr￿ed contr&)utiw retirerne￿ benefft 5th1r￿S are chaTg&J as an expertse as they fall due.

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Crltlcal accountlng estlmates and judgements
In the app￿CatiC￿ of the Institution's accounting poliGies. the trustees are required to make jLMlgemènts.
estimates And assumptions aboLrt the carryiThJ arnount of assets and liabl￿tieS that are not readily appa￿nI
from other sources. The esl¥nates and as50Giatetl asSUmpt￿nS are based on historical experien¢è and other
f8Ctors tt)at are considered to be ￿e￿anL AGIu8b results may ithlter from Ihese estimates.
Th? 8stimates and underfying assumpts)ns are reviewed on an cfflgoing bas15. Revision5 to accounting
estimatès arè recogThsèd in the wiod in which the estimate is vthere the revision affects only that
per￿d, or in the period of the revi$iry) and ftrture per￿dS ￿ere Ihe revisi￿ affects bE)th current and fut
per￿ds.
Income from donati¢Jns and legacips
Unrestrlctpd Unr¢8triet•d
funds
funds
2024
2023
Donations aThJ gifts
Grants re￿Nable
1,319
49.640
1,230
43.440
J.959
44.670
Grants recelvable for core activiii¢s
Trinity Holtse
He￿Ourable Company of Maslei Marinws
Inverclyde Bequest Fund
37.(X)O
2.640
10,fYJD
35.200
2.640
5.600
49.640
43.440
Incomo from inveslments
Unrestrlcted Unrestricted
funds
funds
2024
2023
Income from li5t&Y ￿vestMents
109.775
104,936
-10-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Ralslng funds
Total Unrestricted Endowmenl
fvnds
funds
gerseral
2￿
Tolal
ftjnds
genernl
2024
2024
2024
2023
2023
Investment management
5.974
8.918
14.892
4.165
5.756
9.921
5.974
8.918
14,892
4,165
5.756
9.921
Expenditurn on charhabk aclivitips
Support
grants
2024
Support
grants
2023
Dlrect costs
Grant funding of a￿￿111￿$ (see note 71
98.136
168,270
Share ofsupport and governan¢• costs (see nole 8)
Support
Govemanc£
84,138
4.775
80,227
4.534
187.049
253,031
AnalY￿S by fund
Unrestricled funds
187.049
253,031
Grants payable
2024
2023
Grants to individuals
98,136
168,270
98.136
168,270
11

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs
Support Gov¢man
2024SLPPCrt costs Govemance
costs
2023
Staff costs
Seuetarial fees
Office CDSts
Bank charges
53,145
15,400
15.474
119
53.145
15.400
15.474
119
55.IX)4
13.500
11.579
144
55,004
13,500
11.579
144
IndeFendent exam1r￿￿S
fees
AGM éxpenses
Accountanw and legal
fees
3,780
169
3,780
169
631
631
585
84.138
4.775
88,913
eiJ,r27
4,534
84,761
Net movèmènt In funds
2024
2023
The net rrK)vem8nt in ￿ndS is statèd altef CharL4r￿((Je￿titvj}.
Fees payable foi Ihe fLdeperKlent examwithn of the chaFitys ffftancial
stalemenls
3.960
3,780
10 Trustees
None of the truslees (or any Perso￿ connected Ihèml recèived any remunèration during the year. but 1
trustee was reimbursed a totd of£121 travdling expense$12023- £nl).
11 Employees
Th? averaoe monthty number of emF4oyees duriThJ the yearwas:
2024
Number
2023
Number
Administration
Employmant costs
2024
2023
Wages and salarie5
Other pènsion Costs
19.594
33.551
18.795
36,210
53.145
55,005
Thère were no employees wh)se annual remuneration was rrfft than £￿.[￿)).
12-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Gains and losses on Investrxents
Total Unrestrict•d Endowmènt
funds
funds
2023
2023
Total
nds
2024
nds
2024
2024
2023
Gainslllosses) arising on=
Revaluat*)n of
invèstments
Sale gf investments
35,757
15.025
41,712
33.650
77.469
48.675
17.640
9.964
29,330
6,051
46,970
16.015
50.782
75,362
126.144
27.604
35.381
62.985
13 Taxatlon
The charity is exempl from laxalion on its a*ivrfies twuse als its income is apFligJ for charitable purposes.
14 Tangible fixed assets
Total
fthng5
Cost
At 1 J￿Uary 2D24
2,115
4,618
At 31 December 2024
2,115
4,618
Depreciation and Impalm*nt
At 1 January 2024
1501
2,112
4.613
At 31 December 2024
2.501
2,112
4,613
Carrylng amts￿t
At 31 De￿[nber 2024
At 31 0e¢ember 2023
13-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEPABER 2024
15 Fix•d asset Inv¢$knents
Listed
Cash in
portlollo
Totsl
Cost or valuation
Al 1 January 2024
Addiiions
ValuatlDn changes
Disposals
2398,806
273.7R)
77.468
(293.4371
34,153
2.432.959
273.750
77.468
(309.6281
116,191)
Al 31 December 2024
2.456.587
17.%2
2,474.549
Carrying amount
At 31 December 2024
2.456.587
17,962
2.474,549
At 31 De￿mber 2023
2.398.806
34.153
2.432,959
Ftxed asset inveslmènts revaluèd
The investments have been val￿d at market value by Quilter Chev¥Jt. are an authorised Invest￿nt
ins1(Éution. and Ihe invest￿nts are hdd by thwr rK￿￿￿e coryany.
The historical cost ofthe listed investments was £2.136.273 (2023 £2.117.1101.
16 D•btors
2024
2023
Amounts falling due within cw year.
0th8r debtOTS
Prepayments and accrued income
7.974
6.728
2.8D8
8,407
9,536
17 Credltors: amounts lalling due wilhln one year
2024
2023
Other taxal•Jn and swal seojrity
Other (xedAors
Actruals and deferred income
1,181
1.310
9.341
8.611
10,621
10,017
18 Relirem•nt benerrt schèmès
2024
2023
Defined eontribution ￿￿Me$
Charge to wofit or loss in respecl of defin8d ￿tr￿tion sthemes
656
628
14-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 R8tlr•m•nt ￿n•fft sehomès
(Continued)
The InstitUt￿n operales a defjned conlwibuttln FEnsi(¥t s(*eme for au qualifying employees. The assets of the
scheme are held separatety trom those of the Inslilution in an indeFendentty athnirustered fund.
19 Endpwmgnt funds
End¢)wmenl fuThJs rewesenl assets whth must be held pem)anenty by the Instilukn. IrKome arising on the
endowwnent funds can be used ￿ ￿cO￿nCe Ihe objèds tsf thè Institution and 15 included as
unrestricted income. Any capital losses wisry ihe assets fom) part of the fund.
aaran￿ at
31 DeGernber
2024
1 Jan￿ry 2024 •xpondBd
P$mianent •ndowments
Entkjwment fvnd
1.444.347
18,9181
75,362
1.510.791
1.444.347
(8,9181
75,362
1.510.791
Comparative lnfrjmat1￿ in resp8ci of the weceding p￿10d is as fdlow.
BtsKe*t Res(W￿re￿ Gjins and
Balance at
1 2W43 ¢xpeJ¥led
105685 31 Ott•M￿r
2023
Porman•nt endovmi8nts
Endowmenl fuThJ
1.414.722
(5.756}
35.381
1,444,347
1.414.722
(5.7561
35.381
1,444.347
UnMtrictèd funds
The unrestrlcted hjnds of Ihe tharity the unexpended baances of donations arKI grants whi¢h are
rtot subject to SFecifK conthtions by donDrs and gFanlors as to h(w they may be used.
At 1 Jarniary
In¢oming Resources
2024 r•sovrces
•xpendÈd
Galns and
loss8#
At31
December
2024
1,(M)4.184
160.734
1193.0231
50.782
1,022,677
15-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Unre$tri¢t•d funds
Icontlnued)
Prevlous y8x.
At l January
Incomlrkg
ResouTEes
Gans and
losse5
At31
December
2023
Gengral lund5
1.084.171
149.6tis
1257,1961
27.604
1.Q04,185
21 An￿y81S of net assets between fvnds
Total Unrestricted Endovnnellt
2024
023
2023
Totsl
2023
2024
2024
Fund balances at
31 Decefflber
2024 are
represented by:
Tangible assets
Inv¢stfflents
Current assetsllliat¥litie5}
968,296 I.￿.253
54.376
4.538
2.474,549
58.914
1.312.732
34,928
1,439.782
4,565
2.432,959
15.567
1.022,677 1.510.791
2,533.468
1.347.665
1.444,347
2.448,531
16-

THE ROYAL LIVERPOOL SEAMEN'S ORPHAN INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Operthng leas• ¢ommFlments
At the reporting end dale the InstibJlTh had outstandiig c(wnmitments for futu￿ minuwm lease payinents
under non-canr£labfe operating kases. which fall due 85 foUow&'
2024
2023
Within on8 ￿ar
8gtween two and five yea
9.706
4.853
9.706
14.559
14.559
24,265
23 Related party transa¢tlons
Thprp were no di5dosaNe related paty tran5•thns duriThJ the year12023- [}￿e1.
17-