THE MARINE SOCIETY AND SEA CADETS
Latest income
£23.6m
Latest spending
£19.3m
Registered
1962
Accounts read
FY2025
Financial health, per its FY2025 accounts
The accounts state that unrestricted free reserves were £727,000, which is below the trustees' stated policy target of £2.4 million. The charity reports negative net current assets but attributes this to timing issues, stating they have sufficient resources to continue as a going concern.
What the accounts disclose
Employees paid over £60,000: 15
“15 employees earned over £60K (2024: twelve).” — page 52
Per its FY2025 accounts as filed with the Charity Commission.
Reserves position: below the charity's own stated reserves policy
“We have not met this reserves policy.”
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Grant received from Trinity House Maritime Charity
“Four of the Trustees and the CEO of the charity are Younger Brothers of Trinity House Maritime Charity During the year the charity received a grant of £140K (2024: £130K) from the Trinity House Maritime Charity.” — page 63
“The company made a charitable donation in the year of £27K (2024: £24k) to the charity.” — page 51
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Charitable donation from MSSC (Trading) Limited
“Four of the Trustees and the CEO of the charity are Younger Brothers of Trinity House Maritime Charity During the year the charity received a grant of £140K (2024: £130K) from the Trinity House Maritime Charity.” — page 63
“The company made a charitable donation in the year of £27K (2024: £24k) to the charity.” — page 51
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Office rent paid to Nautical Institute
“Four of the Trustees and the CEO of the charity are Younger Brothers of Trinity House Maritime Charity During the year the charity received a grant of £140K (2024: £130K) from the Trinity House Maritime Charity.” — page 63
“The company made a charitable donation in the year of £27K (2024: £24k) to the charity.” — page 51
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Grant paid to London Nautical School
“Four of the Trustees and the CEO of the charity are Younger Brothers of Trinity House Maritime Charity During the year the charity received a grant of £140K (2024: £130K) from the Trinity House Maritime Charity.” — page 63
“The company made a charitable donation in the year of £27K (2024: £24k) to the charity.” — page 51
Per its FY2025 accounts as filed with the Charity Commission.
Pension scheme deficit: £11.0m
“The most up to date actuarial report is at 31 March 2024 valued assets in the scheme at £1,956M and the liabilities at £1,967M giving a rise to a scheme wide deficit of (£11M).” — page 63
Per its FY2025 accounts as filed with the Charity Commission.
Year-over-year changes
- Employees paid over £60,000: 7 (FY2022) → 15 (FY2025).
Structured financials (annual return, FY ending 31/03/2025)
Total income
£23.6m
Total spending
£19.3m
Cost of raising funds
£663k
Reserves (reported)
£41.4m
Employees
181
Register events
- Received assets from another charity (16/10/2020)
Trustees
- JEREMY JOHN HARLEY PENNchair
- Andy Helliwell
- David Dingle
- Deana Rouse MBE
- Dr Kate Richardson OBE
- Gareth Hampton
- Honor Wilson-Fletcher MBE
- John Denholm
- Jonathan Robertshaw
- Kirsten Hopkins
- Laurelle Brant
- Leonie Austin
- Michael Schofield
- Stephen Edward Peck
- Steve Smith OBE
- Stuart Edward Curl
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £23.6m | £19.3m |
| 31/03/2024 | £18.8m | £18.6m |
| 31/03/2023 | £16.5m | £18.8m |
| 31/03/2022 | £19.4m | £15.8m |
| 31/03/2021 | £14.3m | £13.8m |
Common questions
Is THE MARINE SOCIETY AND SEA CADETS financially healthy?
The accounts state that unrestricted free reserves were £727,000, which is below the trustees' stated policy target of £2.4 million. The charity reports negative net current assets but attributes this to timing issues, stating they have sufficient resources to continue as a going concern. Its FY2025 accounts were audited by MHA.
Who funds THE MARINE SOCIETY AND SEA CADETS?
Funders whose own accounts filings name THE MARINE SOCIETY AND SEA CADETS as a grant recipient include THE I T F SEAFARERS TRUST, THE CONNAUGHT TRUST, JOHNNIE JOHNSON TRUST, SIR JOHN PRIESTMAN CHARITY TRUST, THE LESLIE MARY CARTER CHARITABLE TRUST.
Known funders
| Funder | Year | Amount |
|---|---|---|
| THE I T F SEAFARERS TRUST | FY2022 | £50k |
| THE I T F SEAFARERS TRUST | FY2024 | £50k |
| THE CONNAUGHT TRUST | FY2022 | £6k |
| JOHNNIE JOHNSON TRUST | FY2024 | £5k |
| SIR JOHN PRIESTMAN CHARITY TRUST | FY2024 | £3k |
| THE LESLIE MARY CARTER CHARITABLE TRUST | FY2022 | £3k |
| SIR ROBERT GEFFERY'S ALMSHOUSE TRUST | FY2022 | £2k |
| JOHNNIE JOHNSON TRUST | FY2021 | £2k |
| THE ASSOCIATION OF SAIL TRAINING ORGANISATIONS | FY2025 | £2k |
| THE HELEN JEAN COPE CHARITY | FY2025 | £2k |
| THE EDWARD AND DOROTHY CADBURY TRUST | FY2022 | £2k |
| THE ANNIE TRANMER CHARITABLE TRUST | FY2026 | £1k |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 01/07/2015 | £7k | "Sharing the heritage of TS Exeter Sea Cadets over the last 75 years" |