QVSR SEAFARERS CENTRES

Company limited by guarantee

Company Registration Number:
13903109 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 9 February 2022

End date: 31 December 2022

QVSR SEAFARERS CENTRES

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

QVSR SEAFARERS CENTRES

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal activities of the company

For QVSR Seafarers Centres to be seen as a key partner working within the maritime community. For QVSR Seafarers Centres to play an active part in Maritime Ministry in the Ports of London, Tilbury, Felixstowe, Immingham and Bristol reaching out to seafarers and striving to meet their needs.For QVSR Seafarers Centres to work collaboratively with other maritime missions and organisations in order to maximise the benefit to seafarers visiting the Ports of London, Tilbury, Felixstowe, Immingham and Bristol. Vision QVSR Seafarers Centres’ sees its provision of seafarers’ centres based at the Port of Tilbury, DP World London Gateway and in the Ports of Bristol, Felixstowe and Immingham as a way of welcoming all seafarers visiting these ports located around the UK..



Directors

The directors shown below have held office during the period of
15 September 2022 to 31 December 2022

Rev Jennifer Ann Impey
Nadine Wilkinson


The directors shown below have held office during the whole of the period from
9 February 2022 to 31 December 2022

Sir Alastair Hubert Norris
Theodora Nkemdilim Ogwezi
Ian Clifford Pattison
Geraldine Enid Pearce
Philip Edward Sheppard
Terrence John Simco
Mathilda Small-Byam
Jean Patricia Thomas


The director shown below has held office during the period of
9 February 2022 to 15 September 2022

Barry Leslie Vaughan


The director shown below has held office during the period of
9 February 2022 to 18 July 2022

Roy Thomas Wadeson


Secretary Alexander Campbell

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 March 2024

And signed on behalf of the board by:
Name: Jean Patricia Thomas
Status: Director

QVSR SEAFARERS CENTRES

Profit And Loss Account

for the Period Ended 31 December 2022

11 months to 31 December 2022


£
Turnover: 1,175,740
Cost of sales: ( 183,279 )
Gross profit(or loss): 992,461
Distribution costs: ( 112,293 )
Administrative expenses: ( 104,255 )
Other operating income: 0
Operating profit(or loss): 775,913
Interest receivable and similar income: 22,241
Interest payable and similar charges: 0
Profit(or loss) before tax: 798,154
Tax: 0
Profit(or loss) for the financial year: 798,154

QVSR SEAFARERS CENTRES

Balance sheet

As at 31 December 2022

Notes 11 months to 31 December 2022


£
Fixed assets
Intangible assets:   0
Tangible assets: 3 122,333
Investments: 4 291,549
Total fixed assets: 413,882
Current assets
Stocks: 5 23,979
Debtors: 6 81,103
Cash at bank and in hand: 347,342
Investments:   0
Total current assets: 452,424
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 7 ( 68,152 )
Net current assets (liabilities): 384,272
Total assets less current liabilities: 798,154
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 798,154
Members' funds
Profit and loss account: 798,154
Total members' funds: 798,154

The notes form part of these financial statements

QVSR SEAFARERS CENTRES

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 1 March 2024
and signed on behalf of the board by:

Name: Jean Patricia Thomas
Status: Director

The notes form part of these financial statements

QVSR SEAFARERS CENTRES

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:Fixtures & fittings 20% straight line Motor Vehicle 20% straight line

    Other accounting policies

    Company information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 121-131 East India, Dock Road, Poplar, London, E14 6DFAccounting conventionExpenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:Irrecoverable VAT is not charged as a cost against the activity for which the expenditure was incurred but identified separately as a cost itself.QVSR Seafarers CentresFor the period ended 31 December 2022Accounting policiesThe financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditureThe accounts are presented in GBP rounded to £1, which is the functional currency of the charity.c)Restricted FundsUnrestricted FundsDesignated Fundsd)e)Grants receivable Grants are recognised in the Statement of Financial Activities when the conditions for receipt have been complied with.f)g)Designated funds are unrestricted funds earmarked by the trustees for particular purposes.The charity was incorporated on the 9th February 2022 and commenced trade on the 1 July 2022 and this set of financial statements covers the period from 9 February 2022 to 31 December 2022.Expenditure and irrecoverable VATExpenditure on charitable activities includes the costs of delivering related services undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading.Expenditure is included when incurred. Wherever possible costs are allocated directly to activities. Staff costs are allocated according to the cost of staff working directly in the relevant departments . Where costs cannot be directly attributable to any department they have been apportioned according to the proportion of staff working in each department. Notes to the financial statementsCompany information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 121-131 East India, Dock Road, Poplar, London, E14 6DF. After making enquiries, the trustees have concluded that there are no material uncertainties and that the Charity has adequate resources to continue in operational existences for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.Restricted funds represent grants, donations and legacies received which are allocated by the donor for specific purposes. Purchases of fixed assets with restricted funds are deemed to be satisfied once the purchase has taken place and therefore these restricted fund balances are released to unrestricted general funds unless the restriction is deemed to be on a permanent basis.General unrestricted funds represent income which is expendable at the discretion of the Trustees in the furtherance of the objects of the Charity. Such funds may be held in order to finance both working capital and capital development. The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.Fund accountingGoing concernIncome All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable probability of receipt. Where a claim for repayment of income tax has or will be made, such income is grossed up for the tax recoverable. The following accounting policies are applied to income: The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the Charity's forecasts and projections and have taken account of pressures on income.The charitable company meets the definition of a public benefit entity under FRS 10Accounting policies (continued)Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.Financial assetsStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other incurred in bringing the stock to its present location and condition.Critical accounting estimates and areas of judgementsContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepared contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payment or a cash refund.StocksFixtures & fittingsCash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.Financial LiabilitiesTrade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.Cash and cash equivalentsSeafarer Centre comprises the cost of providing welfare and support services for seafarers at the centres in Felixtowe, Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.Defined contribution plansFinancial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Investments are valued at their market value at 31 December 2022.Tangible fixed assetsSeafarer Centres 50% Shops and bars 50%Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.In the application of the company’s accounting policies, the charity is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the financial statements in a future period.

QVSR SEAFARERS CENTRES

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    11 months to 31 December 2022
    Average number of employees during the period 21

QVSR SEAFARERS CENTRES

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 727,963 200,226 91,399 1,019,588
Disposals
Revaluations
Transfers
At 31 December 2022 727,963 200,226 91,399 1,019,588
Depreciation
Charge for year 8,490 2,241 8,191 18,922
On disposals
Other adjustments 651,707 181,908 44,718 878,333
At 31 December 2022 660,197 184,149 52,909 897,255
Net book value
At 31 December 2022 67,766 16,077 38,490 122,333

QVSR SEAFARERS CENTRES

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Fixed assets investments note

Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Investments are valued at their market value at 31 December 2022Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service user

QVSR SEAFARERS CENTRES

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Stocks

11 months to 31 December 2022
£
Stocks 23,979
Payments on account 0
Total 23,979

QVSR SEAFARERS CENTRES

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Debtors

11 months to 31 December 2022
£
Trade debtors 26,671
Prepayments and accrued income 54,432
Other debtors 0
Total 81,103
Debtors due after more than one year: 0

QVSR SEAFARERS CENTRES

Notes to the Financial Statements

for the Period Ended 31 December 2022

7. Creditors: amounts falling due within one year note

11 months to 31 December 2022
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 5,210
Taxation and social security 7,030
Accruals and deferred income 33,171
Other creditors 22,741
Total 68,152