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    2023 Annual Review

    Welcome from the Chief Executive

    Our purpose remains to ‘improve our Port for everyone’, in alignment with our values and responsibilities towards future generations. Despite challenges such as economic instability and global conflicts, we are proud to report a year of record-breaking revenue growth.

    Catherine May assumed the role of Chair of the Board in January 2024, succeeding Amber Foster, who served admirably across nine years in various board roles, notably as Chair from 2018 to 2023. A true custodian of our values, Amber has been central to the strategic development of our Trust Port. In 2023, we also said goodbye and thank you to Namrata Nadkarni, who served on our board since 2020. We are pleased to welcome Abigail Dombey and Richard Jennings to the Board in 2024, enriching our team with their diverse expertise.

    Looking ahead, we maintain a cautious outlook for the next twelve months. Despite our sustained diversification efforts,

    much of our core business remains reliant on the construction sector, which faces continued uncertainty. Nevertheless, we are confident in our strong relationships with customers and suppliers, as well as the capabilities of our exceptional team. Our values will continue to provide guidance and are at the core of all that we do. I would like to thank everyone for their hard work, during a year of rapid growth at Shoreham Port.

    As a Trust Port, our continued success is linked to how we engage, and importantly, listen to a wide variety of valued stakeholders. We value your input and encourage you to contact us with your views and suggestions. Please continue reading for an overview of the major projects, events, and achievements that defined 2023 for Shoreham Port.

    Tom Willis, Chief Executive

    Highlighted Achievements

    Senior Leadership Team

    Tom Willis

    Tom Willis

    Chief Executive

    LinkedIn
    Sara Bassett

    Sara Bassett

    Finance Director & Deputy Chief Executive

    LinkedIn
    Nicky Brown

    Nicky Brown

    Safety, Operations & Logistics Director

    LinkedIn
    Beth Evans-Gay

    Beth Evans-Gay

    Commercial & Property Director

    LinkedIn
    Brian Rousell

    Brian Rousell

    Engineering & IT Director

    LinkedIn
    Julian Seaman

    Julian Seaman

    Harbour Master/Marine Operations Director

    LinkedIn

    2023 Masterplan

    How we are improving our port for everyone

    Health, Safety and Wellbeing

    Recognising the role we all play in not only delivering great customer service but also ensuring we are all safe and well whilst we do so, we have focused our health and safety messaging around one of our key strategic health and safety goals of being brilliant at the basics. We have focused on ensuring that we continue to upskill our colleagues, examples of this training include oil spill prevention and containment, first aid and fire safety.

    Every colleague receives a comprehensive Health and Safety induction when they join us. This programme has now been extended and everyone receives an annual refresher, ensuring that whatever role you are in, a basic level of health and safety training is received every year. Knowing the pivotal role that our Operational Supervisors have in ensuring the health, safety and welfare of the colleagues they are responsible for, we identified the Construction Industry Training Board Site Supervision Safety Training Scheme as being the most appropriate accredited training programme for them, which they have all completed this year.

    We understand the benefit of gathering as much information as possible about the incidents which occur within the Port and place emphasis on leading indicators. As part of this we have focused on keeping things simple and breaking down barriers to reporting.

    During 2023 we piloted a new approach to the reporting of safety observations and near misses using an online form, accessed from a QR code to facilitate timely and accurate reporting. The benefit of this has been demonstrated through the number of incidents being reported, for example one team reported 27% more near misses in 2023 compared to 2022.

    During 2024 we will place a focus on ensuring that all of our Port Leaders have the necessary competence and confidence to effectively deliver on their health and safety responsibilities. They are each due to receive tailored training for their role and one-to-one coaching and mentoring where required.

    Our Safety Improvement Team has been established for several years. We have refreshed membership this year and have a new group of colleagues working hard to deliver an interesting and relevant programme for the year ahead. The aim is to reach as many colleagues as possible throughout the year and engage them in health and safety. Additionally, on a quarterly basis we analyse our performance and look at key learnings from the previous few months.  

    We have committed to a refresh of our health and safety management system with certification to ISO45001 planned for 2024.

    Operations

    In a year of continued uncertainty within construction supply chains, the Port saw an 8.5% reduction in cargo ship calls from 575 in 2022 to 526. This decline resulted in a 15.5% reduction in total cargo tonnage. The key factor within this was tenant cargoes who collectively carried around 237k tonnes less than prior year.

    Whilst there was a reduction in ship calls and total cargo tonnage, we achieved a third year of record-breaking turnover at £19.6m, this is 17.6% up on 2022, the largest annual increase in our history. It was our property investment plans that helped drive the Port’s turnover, with an underlying rental income increase of 13%, largely attributed to new property offerings.

    On the quayside

    Despite the decline in our total cargo volumes, the team successfully secured substantial new business throughout the year. Bulk cargoes made up 23% of the tonnage handled through operational terminals in 2023, with new cargoes including woodchip, speciality sand, black stone chippings, and an innovative clay aggregate product. Spot cargoes experienced a 40% increase from the prior year, while recycled glass volumes surged by 20%, with volumes set to continue to grow in 2024.

    Our Haulage team soared to new heights in 2023, achieving a remarkable 46.79% increase in timber deliveries compared to the previous year. This success was made possible through sustained investment, resulting in the expansion of our fleet to over 15 trucks and numerous trailers, accompanied by the addition of 7 HGV drivers throughout the year, maintaining our commitment to providing quality local employment.

    These investments underscore our dedication to fostering partnerships with both existing and prospective clients to grow our haulage service, ensuring that each customer receives a safe, efficient, and seamless logistics service from port to door. All our vehicles are FORS certified and feature Euro 6 engines with cutting-edge safety systems, meeting the stringent standards set for frequent visits to London.

    On the water

    Located close to eastern fishing channels, we continue to provide high quality safe moorings for the fishing vessels that regularly call at the Port. The total value of fish landed was £13m, a decrease of 17.8% on 2022. Despite this, we have maintained our position as the third largest port in England for fish landings by catch value.

    Along with completing our refurbished Dry Dock, we are delighted to have invested in two new fishing related projects in 2023, enabled in part through DEFRA’s UK Seafood Fund: Infrastructure Scheme.

    The first invests £1.6 million, redeveloping our inshore fishing marina, doubling berths and expanding quay space by 170%. Our newly named Fishersgate Marina will support smaller fishing vessels, encourage responsible gear rotation, and expand job opportunities. The second project constructs a new path to the West Breakwater, promoting recreational fishing by enhancing public access including for disabled users.

    These projects demonstrate our commitment to modernising infrastructure and promoting sustainable fishing practices while also bolstering community engagement in recreational fishing. Both projects are underway in 2024.

    Although we welcomed a diverse array of vessels to our port in 2023, we had the privilege of hosting two noteworthy arrivals; PS Waverley and Avontuur. The Paddle Steamer Waverley, the world's last Seagoing paddle steamer, made her inaugural cruise from Shoreham Port in September. The harbour was alive with excitement as we welcomed a living piece of maritime history - a sold-out cruise that boarded 600 passengers.

    Crowds gathered on Kingston Beach nearby to witness the vessel's arrival and departure from the Port's Outer-Layby Terminal, where it set off to visit the Isle of Wight and Solent. We were pleased to welcome BBC South East Today to report on the momentous occasion.

    The 103-year-old Dutch schooner Avontuur transported a consignment of unique wines by sail from the Azores, destined for the UK’s best Wine Merchants. This alternative form of shipping significantly reduces the cargo’s carbon footprint and dependency on fossil fuel. Arrival, discharge, and departure were all completed within the span of a single tide.

    As well as the importance of commercial shipping to the Port, we are proud of our thriving leisure community. 12,000 leisure movements were recorded in the year, with users benefiting from our ongoing investment and enhancement in our leisure berth facilities, including Lady Bee Chandlery which had its first full year in operation since its acquisition in 2022.

    Key Projects 2023

    January 2023

    Southwick Beach Huts

    We constructed eight colourful Beach Huts on Southwick Beach in the spring of 2023, positioned just a short walk from the Lock Gates. The interest form for the huts filled up within hours, reflecting high demand, with local residents getting priority during allocation, underscoring our commitment to serving our neighbours. Seeing customers and their families making memories on the beach has been truly rewarding. Energised by this success, we are now reviewing other areas that may be suitable for a similar scheme in the future.

    April 2023

    Lady Bee Studios

    Identified as a prime opportunity for expanding our commercial estate, we transformed the former Nautical Training Corps clubhouse site on the north side of the Port into Lady Bee Studios; adding eleven contemporary modular studios providing an additional 3,131 sq ft of lettable space to the Port’s portfolio. Faced with space limitations, we opted for modular construction. Completed in April 2023, Lady Bee Studios reached full occupancy shortly after.

    June 2023

    Prince Phillip Lock Gate Maintenance 2023

    Our Prince Phillip Lock's complex maintenance schedule includes swapping out the gates every decade. In early 2023, refurbishment of spare gates began for installation at the west end. With meticulous planning and collaboration, including specialist contractors and crane operations, the 60-tonne gates were successfully swapped out within a 72-hour period in early June 2023, minimising disruption to stakeholders.

    July 2023

    Dry Dock Refurbishment 2023

    Our Dry Dock underwent a transformative £710k modernisation project last year, creating enhanced facilities to accomodate vessels up to 50m. This targeted package of improvements, funded partly by a £540k grant from DEFRA's UK Seafood Fund, ensured a return of essential maintenance capabilities to the locality, preserving a proud part of our maritime history.

    Our People and Culture

    Diversity & Inclusion Champions

    As a founding member of the Diversity in Maritime taskforce, we actively contribute to industry-wide initiatives. Underpinned by our award-winning values, we continually take steps to build an inclusive environment; from gender balance at leadership levels as well as LGBTQ+ and BAME representation, to everyday acts of inclusion, like diverse interview panels, free period products, flexible working, neurodiversity and mental health training for colleagues.

    Empowering our leaders with the knowledge and confidence through training to better support their teams remains crucial, as our people are the cornerstone of the Port’s success. Through our collaboration with Whitehead Ross Education, colleagues across the Port have had access to Institute of Leadership & Management Level 2 & 3 training courses, gaining a toolbox of skills to effectively lead and manage teams.

    In alignment with our commitment to colleague well-being and as the first port to sign the Pregnancy Loss Pledge, line managers participated in an interactive training session facilitated by the Miscarriage Association. This session offered valuable insights and equipped colleagues to provide meaningful support to team members affected by pregnancy loss.

    As we strive to cultivate an inclusive culture, raising awareness and understanding of neurodiversity is a priority for the Port. Teaming up with Weirdly Successful, we provided tailored neurodiversity training for Port leaders, further equipping them to support their teams effectively.

    Open doors

    It’s crucial to go beyond data and engage directly with our colleagues to truly understand their experiences and build a stronger, more inclusive workplace together. At the Port, our annual colleague survey offers valuable insights, helping us track progress, identify strengths, and areas for improvement. This ongoing feedback loop enables us to measure the impact of actions taken throughout the year. Now in its third year, the survey provides invaluable annual data. Monitoring the impact of initiatives like Simplyhealth, our healthcare cash plan, we've responded directly to colleague feedback by enhancing the offer which has been particularly appreciated during the current cost-of-living crisis.

    Apprenticeships

    As trusted custodians, we nurture skills, create good quality, local employment opportunities, investing in both our workforce and community. In autumn 2023 we proudly launched our new apprenticeship scheme, welcoming five enthusiastic colleagues to the Shoreham Port team. Partnering with a local college, our apprentices thrive under colleague mentorship, blending hands-on experience with formal education. We are excited by our Apprentices’ success and will be recruiting a further four to join the team in Autumn 2024.

    My apprenticeship offers me a great chance to learn finance from the basics. The ongoing support and mentorship from AAT-qualified colleagues has given me confidence in my ability to learn and has made me excited to come in every day.

    Megan Finance Apprentice

    Gender Pay Gap data

    Our gender pay gap journey remains ongoing as we navigate growth and change. This year, our gender pay gap stands at 3.90%. One significant factor influencing this year's numbers was the expansion of our HGV provision, requiring significant recruitment within this sector. As the HGV industry is primarily male-dominated (98%, as published by Road Haulage Association), our recruitment aligned with this demographic.

    In 2023, we welcomed more women into various roles within the Port, including leadership positions. Our female representation is 27%, surpassing the general benchmark for ports (17%, as per the British Ports Association Survey 2021).

    Engaging Our Community

    In 2023 we concluded a successful five-year education partnership with Shoreham Academy. Each year of the partnership the Port made a significant donation to the Academy’s Gateway Centre, a local school provision that supports the most vulnerable young people within our community. We wish Shoreham Academy the very best for the future and look forward to continuing to support the academy with work experience offers and other opportunities.

    Sussex Dolphin Project (SDP) have been the Port’s Research & Conservation partner since 2020. Based in one of the Port’s commercial units on Albion Street in Southwick, SDP’s main aim is to protect local marine wildlife and promote conservation of the Sussex coast. We are working with SDP to rewild our Port and to launch innovative nature and conservation projects. SDP are also one of our key partners during our Sustainability Week each year, offering engaging, conservation-themed talks to our visitors.
     

    We were delighted to hear from the 3rd/5th Lancing Sea Scouts that 2023 was one of their busiest years for visitors on board their training yacht ‘Supeta’. The Sea Scouts are a valued member of our Port community and play a key role in educating young people about nautical and marine safety. We have recently extended our partnership with the Sea Scouts and look forward to following their adventures in 2024.

    We're proud of our longstanding partnership with Southwick Train Station through the Southeast Communities Rail Partnership scheme. Together with local organisations and charities, we have been enhancing the station for the community and rail users since 2012. Collaborating with Network Rail, our latest project aims to build a new community garden below the westbound platform. This garden will feature planting, seating, a vegetable patch, and corners for wildlife to thrive. We're excited to support this project and look forward to many enjoying this space.

    Engagement with schools

    We were pleased to host several work experience placements in 2023, offering young people the opportunity to experience life behind-the-scenes at Shoreham Port and gain a better understanding of the career opportunities available within the maritime industry. Colleagues also attended careers fairs, delivered talks and tours and facilitated mock interviews, giving pupils a practical experience of working life while fostering their confidence.

    Our dedication to sustainability, recognised by the prestigious Green Tourism Gold award, is evident in our ongoing efforts to source local ingredients, support neighbouring businesses, and commit to the circular economy.

    Throughout the year, Port Kitchen has hosted diverse events, offering a one-of-a-kind venue and bespoke catering packages for various occasions, from relaxed gatherings to corporate celebrations for national organisations. Additionally, we hosted our Annual Public Meeting within Port Kitchen for the first time, confirming the café as an integral part of our Trust Port's community engagement.
     

    The venue was so unique and the atmosphere so welcoming that our corporate guests gave us exceptionally positive feedback... a wonderful location to host our event and we highly recommend it to anyone wanting a distinctive and high-quality venue.

    Following an environmental audit and Dementia Friends training for our colleagues, Port Kitchen proudly joined Alzheimer’s Society’s recognition scheme in May 2023, becoming the first official Dementia Friendly Café in Adur. Held on the first Wednesday of each month, our dementia-friendly coffee mornings features low volume music, adapted menus, a designated quiet area, and identifiable trained team members wearing forget-me-not pin badges. We're excited to expand our coffee mornings and welcome more members of our community.

    Sustainability

    As part of our carbon reduction strategy aimed at achieving net zero emissions (scope 1 & 2) by 2035, in 2023 we implemented innovative measures such as adopting HVO fuel in our Non-Road-Mobile-Machinery and marine vessels, resulting in a significant 80-90% reduction in CO2 emissions. Additionally, our expanded electric vehicle fleet contributed to removing a further 4 tonnes of CO2 annually. Notable initiatives also included launching a waste wood recycling project and implementing innovative programs like net recycling for fishers and line recycling for anglers.

    We held our third annual Sustainability Week in July 2023, hosting 15 outstanding events, collaborating with 11 organisations, with over 300 tickets booked across the week.

    We look forward to publishing our Sustainability Report for 2023 in the coming months, which shares progress on our journey towards Net Zero and on-site renewable energy generation.

    Financial Performance

    Statement of Financial Position For the Year Ended 31 December 2023

    Statement of Financial Position 2023 (£000s) 2022 (£000s)
    Goodwill 77 85
    Fixed Assets 47,755 48,045
    Investment Properties 31,209 34,509
    Current Assets 7,247 7,963
    Creditors: Due Within 1 Year (4,698) (4,792)
    Total Assets Less Current Liabilities 81,589 85,809
    Creditors: Due After More Than 1 Year (20,000) (20,734)
    Provisions for Liabilities (5,028) (8,121)
    Defined Benefit Pension (Liability)/Surplus (377) 8,475
    Net Assets 56,184 65,429
    Reserves 56,184 65,429
       

    Consolidated Statement of Comprehensive Income For the Year Ended 31 December 2023

    Consolidated Statement of Comprehensive Income 2023 (£000s) 2022 (£000s)
    Turnover 19,582 16,649
    Cost of Sales (10,492) (9,826)
    Gross Profit 9,090 6,823
    Administrative Expenses (7,561) (7,872)
    Other Operating Income 47 88
    Operating Profit/(Loss) 1,576 (926)
    Interest Receivable and Similar Income 407 0
    Interest Payable and Similar Charges (1,385) (693)
    Fair Value (loss)/gain on Investment Properties (3,159) 181
    Loss Before Taxation (2,561) (1,474)
    Taxation 408 296
    Loss for the Financial Year (2,153) (1,178)

    Consolidated Statement of Cash Flow For the Year Ended 31 December 2023

    Consolidated Statement of Cash Flow 2023 (£000s) 2022 (£000s)
    Cash Generated from Operations 4,260 747
    Interest Paid (1,385) (415)
    Income Taxes Paid (423) (165)
    Net Cash Flow from Operating Activities 2,452 167
    Net Cash Generated Used in Investing Activities (1,896) (2,801)
    Net Cash Generated (Used In)/Generated From Financing Activities (962) 3,626
    Net (Decrease)/Increase in Cash and Cash Equivalents (406) 991
    Cash and Cash Equivalents at Beginning of Year 3,354 2,363
    Cash and Cash Equivalents at End of Year 2,948 3,354

    Turnover (£000s)

    Tonnage (000s tonnes)