INTERNATIONAL FOUNDATION FOR AIDS TO NAVIGATION

1. INTERNATIONAL FOUNDATION FOR AIDS TO NAVIGATION 2011-08-05 → present
2. MIDDLE EAST NAVIGATION AIDS SERVICE 1950-01-12 → 2011-08-05

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Having reviewed the funding facilities available to the Company together with the expected ongoing trading conditions and the Company's projected future cash flows, the directors have a reasonable expectation that the company will have sufficient funds to continue to meet its liabilities as they fall due for the foreseeable future and therefore have prepared the financial statements on a going concern basis.”

Group structure

1. INTERNATIONAL FOUNDATION FOR AIDS TO NAVIGATION · parent
   1. Menas Marine Services Limited 100% · England and Wales · Operated a commercial vessel until September 2023
   2. Oman Marine Services Limited (OMSL) 100% · England and Wales · Marine services contractor

Significant events

• “In 2024, IFAN's charitable objects have driven a continued focus on our two core activities: the management of our funds and their distribution to projects which enhance safety at sea and protect the marine environment and the reliable operation of navigational aids and associated communication systems in the Gulf.”
• “Cazenove be appointed as IFAN's Investment Managers. This appointment was made on 1 June 2024.”
• “During 2024, we donated $0.83m to projects which seek to improve safety at sea and protect the marine environment; some of these projects are planned to continue through 2025.”
• “At IFAN's Board meeting in November 2024, the Directors agreed to continue support for IALA WWA for a further 3 years. C Mulvihill has been appointed to the WWA board with effect from 26 June 2024 representing major sponsors of the WWA.”
• “A balance of $196k was paid in July 2024 which represented the final work of Phase 3. Phase 4 is currently under development by the SPC and will be considered by IFAN when brought forward.”
• “In 2024 our office in Bahrain was successful in securing a new contract to provide refurbishment and installation of AtoNs in Bahraini waters for the Ports and Maritme Affairs division of the Ministry of Transportation and Telecommunications (PMA). The work will commence in 2025.”
• “A new DGPS site at Ras Al Khaimah (RAK) has been built and went into operation in May 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +38.7%

  £2,520,718 → £3,496,203

• Cash

  -94.5%

  £12,337,666 → £681,370

• Net assets

  +4.1%

  £48,358,371 → £50,345,816

• Employees

  +14.3%

  14 → 16

• Wages

  -14%

  £959,038 → £824,512

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers