Company registration number .' 02678080 Charity regislration number.. 1015668 Scotland charity registralion number. SC042339 Surf Life Saving Great Britain Company Limited by Guarantee Financial Statements 31 December 2023 Westcotts sw LLP Chartered Accountants & Statutory Auditor 80 Oxford Street Brnhamn-Sea TA8 1EF
Surf Life Saving Great Britain Company Llmlted by Guarantee Flnancial statements Yèar ended 31 Dècember 2023 Contents Pages Trustees, Annual Report lin¢oTporaling the Directors, reporti Independent Auditor's Report to the Members 10-14 Statement of Financial Activities {including Income and Expenditure Account) 15 Statement of Financial Position 16 Cash Flow Slatement 17 Notes to the financial statements 18-34
Surf Life Saving Great Britain Company Limited by Guarantee Financial Ststements Year ended 31 December 2023 The trustees, who are also the directors for the purposes of company law. present their report and the financial slatements of the charity for the year ended 31 December 2023. Reference and admlnlstrative details Reglstered charlty name Surf Life Saving Great Britain Charlty registration number 1015668 SC042339 England and Wales Scolland Company reglstratlon number 02678080 Prlncipal office and registered Buckland House offlce Harrier Way Sowton Exeter EX2 7HU United Kingdom The Trustees MrR J H Martin MBE Mr G C Goodier Mr P W Lawrence (Resigned 22nd May 2024) (Resigned 21 February 20241 Mr G S Mayhew Mrs J Shepherd MrA Mann Mr P Lewis Mr M S Taylor (Appointed 21 August 2023) (Appointed 21 August 20231 {Appointed 21 August 2023) Chlef Executlve Offlcer Mr T W Coventry Audltor Westcotts LLP Chartered Accountsnts & Statutory Auditor BO Oxford Street Burnhamvon-sea TA8 1EF Bankers Lloyds Bank PLC 234 High Slreet Exeter United Kingdom EX4 3NL Soll¢ltors Tozers Solicitors LLP Broadwalk House Southernhay West Exeter EX1 1UA
Surf Life Saving Great Britain Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuod) Year ended 31 December 2023 Structure. governance and management A. Introdu¢tlon Surf Life Saving Great Britain {"SLSGB"l is a registered charity, the recognised National Goveming Body for Surf Lifesaving and a Company limited by Guarantee. The Artides of Association and Bye- Laws (available for public access on our document store at www.slsgb.org.ukl constitute our governing documenls and set out our objects which are as follows: The object for which the Company is established is to save lives on Britain's beaches and to engage in search and rescue activities and to provide education in all areas relating to, lifesaving, search and rescue and resuscitation for the benefit of the public by.. the provision of support and maintenance for a neOrk of Affiliated Clubs with similar objects., the promotion and improvement of national and internalional standards, qualifications and training in water safety. search and rescue. lifesaving, coaching, resuscitation and first aid,. the promotion and organisation of beach and pool training, water sports and lifes8ving activities for training. recreation and enjoyment that encourage fitness, team work, responsibility and excellence in pursuit of these objects- the promotion of the provision of voluntary life5aving search and rescue services to the community and public at large. The Trustees have reviewed the public benefit guidance by the Charity Commission and are satisfied that the benefits created by the charity are both identifiable and available to the public. These benefits include (but are not limited tol- making Britain's beaches safer for the public by providing a volunteer Life Saving and inshore coastal search and rescue service-, providing a volunteer flood and terrestrial search and rescue service at both local and national levels., providing Life Saving learning and skills development opportunities to members and the wider public-. providing opportunities for lifesaving sport that reflect the skill and fitness of the activity of our core value of Lif8 Saving and Search and Rescue., providing support to other Charities (e.g. dubs)- and providing personal development and volunteering opportunities.
Surf Life Saving Great Britain Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnu8d) Year ended 31 December 2023 Structure, governance and management (contlnuedj B. Governance Structure 1.Organisational Structure The organisational structur6 of Surf Life Saving Great Britain, a charitable company. is compliant with the16gal requirements under charitable and company law. The organisational structure. which includes staff and so can vary, is available to members on request. A Board of Trustees governs. is appointed by, and answerable to, the members through an Annual General Meeting, or, when required. a General Meeting. The Board may create a number of Sub Committees whose responsibilities are made known to members on request. A Management Team, answerable to the Board, is responsible for the operational control and cc ordination of the company's activities. Knowledge based Committees have been created to consider and provide guidance to the Board of Twstees and the management on specified specialist topics thal all relate to the core activ¢ties of the or9anisation. These currently include but are not limited to Lifesaving, Clinical Governance and Sport and Events. A Chief Execulive Officer is normally appointed by the Board to oversee the day-tOThday management of the company Ihrough a Management Team that comprises key staff. Other staff are appointed as required to enable the company to conduct its business effectively. An Honorary President may be appointed by the Board of Trustees on a 3-year term, which may be renewed, to champion and progress the work of Surf Life Saving GB at both national and international level. The position is an honorary role that carries no executive authority- The role of the President is set out in the President's Role Description. 2.Board of Trustees a. Composlllon The Board comprises a Chairman. Treasurer and between five and eight other Trustees. Three to five of these Trustees should have a sound knedge and empathy for Surf Life Saving as well as previous experience from either private business or community activities, ideally such experience having been gained as a committee member or board member. The remaining Trustees must have the ability to contribute specialist knowledge. 5ki51s and experience in areas identified as strategically and operationally important for the organisation. and with previous experience from private business. government or community sectors, ideally as a senior executive or board member.
Surf Life Saving Great Britain Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) f¢ondnuedJ Year ended 31 December 2023 Structure, governance and management (condnue(lJ b. Procedures for Recrultment and Electlon of Trustees Trustees are eleed by the Annual General Meeting (AGM). The Chairman is also appointed by the AGM. If therè are vacancies, Trustees can be COaOPted onto the Board at any time but must Stand for election at the following AGM. Sometimes. the Board will identify a need for Trustees wth specific skills and experience and so all Trustees will be required to go through a recruitment process that may be externally facilitated to allow the existing Board. and members to make a sound judgement on the suitability of each applicant to seNe as a Trustee. Any person wishing to stand for election as Trustee must be nominated by a proposer and seconder who must be current voting members in good standing. The nomination must include details of the prospective Trustee's CV. A call for nominations will be made at least 3 months before the Annual General Mèeting with a closing date not later than 6 weeks before the date of the meeting. Full details of a prospective Trustee standing for election at the Annual General Meeting will be circulated with the notification and papers for the meeting. c. SeNlng Trustees The following Trustees, who are also the directors, seNed during the year.. Mr R J H Martin MBE Mr G C Goodier Mr P W Lawrence Mr G S Mayhew Mrs J Shepherd MrA Mann Mr P Lewis Mr M S Taylor - appointed 17 April 2011, resigned 22 May 2024 appointed 17 April 2011 appointed 17 April 2011, resigned 21 February 2024 appointed 26 August 2017 appointed 13 September 2019 appointed 21 August 2023 appointed 21 August 2023 - appointed 21 August 2023
Surf Life Saving Great Britain Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnued) Year ended 31 December 2023 Objoctlves and actlvltles C. Roport 1. Prlnclpal Actlvlty The Exeter based headquarters support affiliated charities, not for profit organisations and independent Accredited Training Centres who operate in Great Britain to provide lifesaving education and skills to those from five years upwards in beach safety, lifesaving and search and rescue and helping create fitter and safer communities by the sea and in other open water environments. There are also individual members. Member volunteers devote time to training and educating others and providing a voluntary rescue service for the benefit of the publio Surf Life Saving Clubs and their members are the main and central activity of SLSGB. Surf Life Saving Clubs are family based with a very high level of partictpation by young people under the age of 18. By providing all ages and gender with the opportunity to train and practi rescue skills. water safety, first aid and life support using pools during winter and on beaches in the summer, clubs are helping to make communities fitter, safer and providing an essential community based beach safety resource. For Ihose who enjoy honing and proving lifesaving and rescue skills through competition, there are local, county, regional, national and also International lifesaving events for those selected b represent the national lifesaving teams. As part of their training within clubs, members can achieve SLSGB Lifesaving awards. qualifications and competencies in a range of rescue and lifesaving and sport discipline5. SLSGB is the awarding body for the highest standard of beach lifeguard qualification and trains many of the paid RNLI lifeguards working on our beaches. Wrth opportunities that include vocational qualifications for beach. surf, lifeguard and event open water safety management, SLSGB is now the national leader in recreational open water safety training and guidance to the highest standards of safety governance. Our voluntary beach and inshore rescue patrol actiwty formally recognised by the Coast Guard continues to enable our declared rescue assets to operate within the National SAR Coastal Framework with and alongside Category Qne Responders. The arrangemenl with the Coast Guard emphasises their trust in our governance and training protocols and the standards being achieved and maintained by our volunteers. During Ihe year our 14 formally declared patrols reported 82 incidents, undertook 18 lifesaving intetventions and saved 40 lives. They also managed 3 major first aid incidents We continue to provide the Police wth assistance for missing person search operations using highly trained special operations boat teams as an extension of both our coaslal and flood rescue capabilities incorporating when required a re5cuelrecovery swimmer. Our swiftlextreme water rescue boat training Is now recognised as Ihe most advanced available. During the year our volunteer operational SearGh and Rescue Flood Response Teams have maintained their operational capability- Our flood response activity is fully compliant wlh the DEFRA Concept of Operations. All teams were audited by DEFRA with a clean score. In 2023 our flood teams supported multiple Local resilience call outs and our Type B Teams were deployed to incidents in Devon. Dorset, Wiltshire. Avon and Somerset and North Yorkshire. The search and rescue resources that we have built is based on our operational governance reflected by our recognition and participation as a full and active member of the UK SAR Operators Group and with DEFRA at operational levels.
Surf Life Saving Great Britain Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (eontlnu8 Year ended 31 December 2023 We have progressively developed our inhouse flood technician and team manager training to a level where outside training is no longer required. With increasing demands on local voluntary response assets, we have continued building close strategic working relationships in local communities through local resilience forums. We directly contributed to work undertaken by the UK SAR Operators Group on immersion and submersion protocols. We provided guidance on drowning incident dala collection to get more focus on near miss inodents that inform avoidance strategies. We attended the ILS 2023 World Drowning Prevention conference and made acknowledged, significant contributions to the discussions about the impact of global warming that have resulted in huge increase in widespread serious floods and how to plan and establish resilience and response programmes. Under a long standing strategic partnership agreement we commenced all expenses paid for assistance for Surf Life Saving Australia for the development of a national plan for flood rescue resilience based on the principals that we have adopted and use. Strategic report The following sections for achievements and performance and financial review forrn the strategic report ofthe charity. Achlevements and perfonnan¢e 2. Business Plan & Financial Revlew In spite of fears that COVID would damage Surf Life Saving. the opposite seems to have happened. Our policy to use all our resources to support member aclivity to help our clubs provide a valued. healthy, safe and enjoyable family based activity founded on Lifesaving values resulted in a further increase in membership. By the year end membership was 10,297 (2022.. 9,200, 2021- 7344). We awarded 2,917 Lifesaving Awards and our clubs organised 1016 courses for our members {2022.' 520) Thank you to all our members. volunteers and Staff who contributed to this remarkablè result. Inspired by the Club Sport Committee and our Officials supported by an army of hard-working volunteers, lifesaving sport events have again increased now spreading to our Northem Clubs. During the year our clubs organised 17 sport competition events shoe horned into an already busy club calendar. Entries for our National Pool and Surf Life Saving events increased. particularly in the Nipper and Youth age groups. Total entrie5 for the Pool Championships were 1,315 (2022.. 1071) Nipper entries year on year increased by 27 /, Youth by 12Y•. Entries for our Ocean Championships were 1.224 {2022.' 975) Nipper entries year on year increased by 26Yo, Youth by 22V.. Our Masters Championship representing our elite sports category had a record 344 entries (2022.. 231) a 49% year on year increase. Branksome Chine again provided a superb event for the third time, a hard act to follow.
Surf Life Saving Great Britain Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conunued) Year ended 31 December 2023 During 2023 we were again supported continuously by both our Lifesaving Committee and Clinical Advisory Group who provided highly valuable. timely and accurate advi and guidance. We are fortunate to have the input of such dedicated. knowledgeable. reliable and well-informed experts. Based on our acknowledged expertise and capability in search and rescue and safety. we opened wholly owned Irading company, now called SLSGB Training Ltd, with the intention of seeking income for the benefit of SLSGB (the charity) to help offset growing costs and to slrengthen our core services lo Clubs and members. In July we signed a 3 year renewable contract with the Devon and Cornwall Police Authority to provide a safety training programme for Police Officers working dose to water. The programme is delivered by the Authority SUPPOrted by Poli Tutorlmentors trained by the Company who also provide CPD and programme updates as required. There are 34 Police Authorities in England all wilh Poli Officers exposed to aquatic risks that our training resolves. Early signs are that the training is being well received. We are optimistic about the opportunity to increase our offer of this training to other Police Authorities. We are also seeking other appropriats opportunities related to flood resilience programmes. The outcome for Ihe year has been an operating deficit of £21,732 {2022.' £31.455) which redUd our reserves to a total of £231,169 (2022.. £252,901). The Charity is currently financially secure and now set to invest by replacing members of our core operational tsam who left in 2020121 to secure the further development of our aims in search and rescue, prevention of drowning and saving lives. During the year £75,897 was contributed to our income by charitsble donations and sponsorship. We are extremely grateful to those indiwduals and organisations for their generous support.
Surf Life Saving Great Britain Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) fcontlnuodj Year ended 31 December 2023 3. Reserves Policy The board of trustees has reviewed its policy on reserves, considering.. The income of the Charity is not entirety predictable and will suffer peaks and troughs. The target amount of reserves should be sufficient to ensure conlinuity of the employment of key personnel to run the charity for 6 months employment costs. This target should not be at the cost of unexpècted events, so that if there are unforeseen pressing needs for the Charity to make urgent expenditure, these are considered within the context of.. the amount needed to be spent and predicted future income to rebuild the resetves. The reserves should be reviewed annually in accordance with the expected annual employment costs and any revision of the target seL The business plan should not seek to increase the reserves beyond the agreed target so that all available income will be Spent for the charitable purposes of the organisation. During 2023 the reserves have decreased to £231.169 {2022'. £252.9011. The Board will continue to implement policies and actions as appropriate to Ihe needs of the organisations charilable aims. Flnanclal review 4. Managing Risks & Controls The Board of Trustees review and update the organisalion Risk Register as appropriate but not less than lce in each year. The Board of Trustees set, and abides by, all organisational policy and procedures. The Board of Trustees implement, monitor and review all conflicts of interest in accordance with the policy. The Board of Trustees set an annual Income & Expenditure budget in advance. The Board of Trustees review the monthly finance controls, report and monitoring of Income and Expenditure against Budget. The Board of Tnjstees manage the risk and bene)It ot extemal relationships as appropriate but not less than lee in each year. The Board ofTrustees appoints and seeks the support of Advisors as required. 5. Premises During 2023 the Buckland House, Park Five. Harrier Way, Sowton, Exeter premises lease was renewed for a period of six years to September 2029. The lease has a break and review in September 2026. The lease is outside Ihe Landlord and Tenant Act so has no automatic right of renewal.
Surf Life Saving Great Britain Company Limited by Guarantee Tiusteos, Annual Report (Incorporating thè Dlrectors. Report) (continuBdl Year ended 31 D8camber 2023 Trustees, Statsmont of Responsibilities The trustees {who are also directors of Surf Life Saving Great Britain for the purposes of company lawl are responsible for preparing the Trustees, Report {incorporaling the Directors, Report) and the financial ststements in accordance wslh applicable law and United Kingdom A¢Gounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Slandard applicable in the UK and Republic of Ireland (United Kingdom Accepted A¢¢ounting Practice). The law applicable to charities in England and W81es, and Scotland, requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial slalements, the trustees are required to: select suitable accounting policies and apply them consistently,. observe the methods and principles in the Charities SORP 2019 IFRS 1021., make judgements and estimates that are reasonable and prudent., state whether applicable accounting stsndards have been followed, subject lo any material departures disclosed and explained in the financial statements., and prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charitable Company and to enable them to ensure that the accounts comply with the Companies Act 2006. the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts {Scotlandl Regulations 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware, there is no relevant audit information of which the char(table companvs auditor is unaware. and the trustees have taken all steps that they ought to make themselves aware of that information. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The Trustees, Annual Repo behalf of th B rd of Trus and the Strategic Report were approved on . es by.. . and signed on MrG Trustee Mayhew
Surf Life Saving Great Britain Company Limlted by Guarant88 Indepgndent Auditors Report to the Mgmbers of Surf Lifg Saving Grnat Britain Year ended 310ecèmber 2023 Opinion We have audited the financial statements of Surf Life Saving Great Britain (the 'charity'l for the year ended 31 December 2023 which comprise the Statement of Financial Activities (including Income and Expenditurg Accounll. Statement of Financial Position, statement of cash fflows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Aceounling Slandards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Gengrally Accepted Accounting Practice). In our opinion the financial ststements.. give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of ils incoming resource5 and application of resources. including its income and expenditure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basis of opinion We conducted our audit in accordance with Intemational Standards on Auditing IUIQ {ISAs {UKII and applicable law. Our responsibilities under those standards are further described in the audilorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in aGcordanee wtth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidents we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions in relation to golng concern In auditing the financial statements, we have concluded that the trustees, use of going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the chaiity's ability to continue as a going concern for a period of at lest twelve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the trustees are described in Ihe relevant sections of this report. io
Surf Life Savlng Great Britain Company Limited by Guarantetr Indgpend9nt Auditorf8 Report to tho MembeTr of Surf Llfe Saving Great Britain (continued) Ygar ondad 31 December 2023 Other Infomiation The other infomiation comprises the infomalion included in the annual report, other than the financial slatemenls and our auditor's report Ihereon. The trustees are responsible foi the other information. Our opinion on the financial statements does not cover the other infomiation and. except to the extent otheNi5e explieilly stated in our reporL we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether there is material misstatement in the financial statements or a material misstatement of the other informalion. If, based on the work we have performed, we conclude Ihat there is a material misstatement of this other information, we are required to report that focL We have nothing to report in this regard. Oplnlons on other matters prè$crlbed by the Companigs Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomiation given in the trustees, report for the financial year for which the financial slatemenls are prepared is con51Stent with the financial statements,. and the Irustees, report has been prepared in accordance with appli¢able legal requirements. Matters on which we are requirgd to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit. we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which the Companies Aet 2006 and the Charities Act 2011 requires us to report to you if, in our opinion.. adequate accounting records have not been kepl, or retums adequate for our audit have not been eived from branches not visited by us-, or the financial statements are not in agreement with the accounting records and returns., or rtain disclosures of trustees, muneratIon specified by law are not made,. or we have not received all the information and explanations we require ft)r our audit. 11
Surf Life Saving Great Britain Company Llmited by Guarantea Independgnt Auditotrs Report to the Members of Surf Life Saving Great Brltain Icontlnued) Year ended 31 Dècèmbor 2023 Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement. the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements Ihat are free from material mi$$latement, whether due to fraud or error. In preparing the financial slatements, the trustees are responsible for assessing the charity's ability to continue a5 a going concem. disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic altemotive but lo do so. Auditorfs rosponsibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the finaneial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level ot assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements Can arise from fiaud or error and are considered material if. individually or in the aggregate, they could reasonably be expected lo inftuence the economic deeisions of users laken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulation$. We design procedures in line th our responsibilities, outlined above. to delect material misstatements in respeet of irregularities, including fraud. The extent to which our procedures are capable ol detecting irregularities, including fraud is detailed below.. We identified areas of laws and regulations that could reasonably be expectsd to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management. We communicated identified laws and regulations throughout our team. and remained alert to any indications of non-compliance throughout the audit. The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The ompany is also subject to other laws and regulations where the consequences of non-complianc8 could have a material impact on the amounts or disc105ures within Ihe financial slatemenls. including employmenl, anti-bribery, anti-money laundering. (Ing to the inherent limitalions of an audiL there is an unavoidable risk that we may not have detected some material misstslemenls in the financial statements, even though we have properly planned and perfomed our audit in accordance with audiling standards. In any audit. there remains a higher risk of non4election of irfegularities. as these may involve collusion. forgery, intentional omissions, misrepresentations. or the override of internal controls. We are not responsible for preventing non-compliance and cannot be experted to detect non<ompliance with all laws and regulations. 12
Surf Life Saving Great Brltain Company Limitad by Guarantee Indèpendent Auditotrs Report to the Members of Surf Lifg Saving Gréat Britain {¢ontinued) Year onded 31 Decombor 2023 As part of an audit in accordanc8 with ISAS (UK}, we exercise professional judgmenl and maintain professional sceplicism throughout the audit. We 81so'. Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, design and perfomi audit procedures responsive to those risks. and obtain audit evidence that Is sufficient and appropriate to provide a basis for our opinion. The risk of not delecling a material mi55tatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expTessing an opinion on the effeclivene$5 of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the tnJstees' use of the going concern basis of accounting and, based on the audit eviden obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty e$ts, we are requiied to dfaw attenlion in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of our auditorfs report. However. future events or condition$ may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and ¢ontent of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governanee regarding, among other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Aet 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required lo state to them in an audilovs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report. or for the opinions we have formed. 13
Surf Life Saving Great Britain Company Llmlted by Guarantee Independent Auditorfs Report to thg Mgmbers of Surf Lrfe Saving Great Britain (continued) Year ended 31 Decembèr 2023 Westcotts (SW) LLP David Wright (Senior Statutory Auditor) For and on behalf of.. Weslcotts (SWI LLP Chartered Accountants & Statutory Auditor 80 Oxford Street Bumham-on-sea TA8 1EF 11.9.24 14
Surf Life Saving Great Britain Company Limited by Guarantsg Statement of Financial Actlvities (including incomo and expenditure account) Year ond&d 31 December 2023 Unrgstrictsd Rostricted Total Funds Total Funds Funds Funds 2023 2022 Notes Incomg Donations and legacies Charitable activities Investment income Other income 312.259 283,357 1,367 18.139 23,446 335,705 283,357 1,367 18,139 369.435 244,168 100 Total income 615,122 23,446 638.568 613,703 Expendituro Expenditure on raising funds-. Costs of raising donations and legacies Expenditure on charitable activities 12,215 624,639 12.215 648,085 8,523 573.725 10, 11 23,446 Totsl expèndlture 636,854 23.446 660,300 582,248 Nèt Income and net movement in funds {21.732) 121,732) 31,455 Reconciliation of funds: Total funds brought forward 252,901 252,901 221,446 Total fund carried foTward 231,169 231.169 252,901 The Statement of Financial Activities inclLtdes all gains and losses recognised in the year. All income and expenditure derive from conhnuing activilies. Prior year fund Comparatives are shown in note 29. The notes on page$ 18 to 34 fomi part of these financial statements. 15
Surf Life Saving Great Britain Company Limitsd by GuarantBa Company number.. 02678080 Staterngnt of Financial Position As at 31 Dgcgmber 2023 Notss 2023 2022 Flxed assets Tangible assets Investrments 17 18 26,417 31.110 26,418 31,111 Curront assgts Debtors Cash at bank and in hand 20 22,480 224,390 27,886 249,689 246,870 277,575 Credltors: Amounts falling due within one year 21 142,1191 {55.7851 Net current assets 204,751 221.790 Total assets less current liabilities 231,169 252,901 Net assets 231,169 252,901 Funds of the eharity: Unrestricted funds 231,169 252,901 Totsl charity funds 25 231.169 252,901 These financial statements have been prepad in accordance with the special provisions for small companies under Part 15 of the Companies A¢t 2006 and with the Financial Reporting Standard 102 (FRS 1021. The financial statements were approved by the Board of Trustees and.authorised for issue on and are signed on behalf of the Board by= 19.7.24 S Mayh Trustee The notes on pages 18 to 34 foim part of these financial stalemenlg. 16
Surf Life Saving Great Britain Company Limitgd by Guarantee Cash Flow Statement Yoar 8nded 31 Decembor 2023 Notos 2023 2022 Net cash from operating activities 30 121,928} 33.920 Cash tlows from invgsting activities: Interest and dividends from investments Purchase of fumiture and equipment 1,367 {4,7391 100 (6,4761 Net cash (used inl I provided by investing activities (3,3721 {6,3761 Change in cash and cash equivalents in the year {25.3001 27,544 Cash and cash equivalents brought forward at 1 January 2023 249.689 222,145 Cash and cash equivalents Garried forward at 31 December 2023 224,389 249,689 Cashflow restrictions Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash oufflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cashflows for the year. The notes on pages 18 to 34 fomi part of these financial statements. 17
Surf Life Saving Great Britain Company Limitgd by Guarantee Notes to the Financlal Statsments Year endod 31 December 2023 Ggnoral infOation The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and Scotland and a registered charity in England and Wales. The address of the registered office 1$ Buckland House, Harrier Way, Sowion, Exeler, EX2 7HU, United Kingdom. Statsmgnt of compliance The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) issued in October 2019 and the Financial Reportrng Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), Companies 2006 and UK Generally Accepted Pra¢ti¢e as il applies from January 2019. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilitses and investment properties measured al fair value through income or expenditure. The financial statements are prepaied in sterling. which is the functional currency of the entity. Going Concem There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of Ihe financial statements requires management to make judgement5, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expoctations of futuie events that are believed to be reasonable under the circumstances. Fund Accountiny Unreslricted funds are available for use at the discretion of the trustees to further any of the eharity's purposes. Designated fund5 are unrestricted funds eamiarked by the trustees for particular future projed or ommitment. Restricted funds are Subjected to restrictions on their expenditure declared by the donor or Ihrough the temis of an appeal, and fall into one of two sub<lasses'. restricted income funds or endowment funds. 18
Surf Life Saving Great Brltain ompany Limitèd by Guarantge Notss to the Financial Statsménts Year ended 31 Decgmbèr 2023 Accounting policies (continuad) Incornè All incomfj is included in the Statement of Financial Activities when entitlement has passed to the charity., it is probable that Ihe economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categorie5 of income-. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and serViS are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of gener81 volunteers. income from contracts for the supply of setvices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for tt to be spent on a particular purpose and returned if unspent, in which case il may be regarded as restricted. Expendlture Expenditure is recognised on an accruals basi5 as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the stslemenl of ffnancial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non<haritable Irading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those 5UPPOrt costs and ¢osÉs relating lo the govemanee of the charity apportioned to charitable aetivities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories refleding the use of the resour. Direct costs attribLStable to a single a¢tivity are allocated directly to that activity- Shared costs are apportioned between the activities they contribute lo on a reasonable, justifiable and consistent basis. 19
Surf Lrfe Saving Great Britain Company Llmlted by Guaranteè Notss to the Financial Statsments Year èndod 31 December 2023 Accounting pollcios (continuod) Govemmgnt Grants Government grants are recognised at the fair value of the asset received or receivable. Grants ar8 not recognised until there is reasonable assurance that the company will comply with thg conditions attaching lo them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, govemment grants relating to revenue are racognised on a systematic basis over the periods in which the company recognises the Telated costs for which the grant is intended to compensate. Grants that are Teceivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are regnISed in income in the period in which il becomes receivable. Grants relating to assets are recognised in income on a systematie basis over the expected useful life of the asset. Wheie part of a grant relating to an asset is deferred, il is reGognised 0$ deferred income and not deducted from the carrying amount of the asset. Und@r the perfomiance model. where the grant does not impose specified future perfornance- related conditions on the recipient. il is recognised in income when the grant proceeds are received or receivable. Where the gTant does impose specified future perfomiance-relaled Gondilions on the recipient, it is regnised in income only when the perfomance-related eondition$ have been mel. Where grants received are prior to solisfying the revenu8 recognition criteria, they are Tecognised as a liability. Operaling Leases Lease paymenls are recognised as an expense over the lease teim on a straight-line basi5. The aggregate benefit of lease incentives is recognised as a reduction lo expense over the lease term. on a straight-line basis. Goodwlll Goodwill arises on business acquisitions and repTesenls the excess of the cost of the 8CqUiSltion over the charity's interest in the net amount of the identifiable assets, liabililies and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisalion and accumulated impairrnent losses. It is amortised on a straight-line basis over ils useful life. Where a ieliable estimale of the useful life of goodwill or intangible assets cannot be made, the life is presumed not lo exed five years. 20
Surf Llfe Saving Great Britaln Company Lirnitgd by Guarantse Notss to thé Financial Statemgnts Yèar ended 31 Decernber 2023 Accounting policles {continugdl Amortisation Amortisation is calculated so as to write off the cost of an asset, less ils estimated residual value, over the useful life of that asset as follows- Goodwill 25Yo Straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset. the amortisation is revised prospectively to reftect the new estimales. Tangible Assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumu18ted depreciation and impaiment losses. Any tangible assets carried at revalued arnounts are recorded al the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairnent1055es. An increase in the Carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the Statement of Financial Activities. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within olher recognised gains and losses on the Statement of Financial Activib'es. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less ils residual value, over the usefvl economic life of that asset as folls)WS'. Plant and machinery Fixiures and fittings Boats & engines Short leasehold property Motor vehicles 25tsh straight line 25Q slraight line 1 Oyo Straight line Over the life of the lease which ends 24 September 2023 25Qk straight line Investments Unlisted equity investments are initially recorded al cost, and subsequently measured at fair value. If fair value cannot be reliabty measured, assets are measured at cost less impairment. Listed investsments are measured at fair value with changes in fair value being recognised in income or expenditure. 21
Surf Life Saving Great Britain Company Limitsd by Guarantse Notss to the Flnancial Statements Year ended 31 December 2023 Accounting polici08 Icontinuod) lrnpaiThgnt of Fixod Assets A review for indicators of impainnent is carried out al each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impaimienl testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unil to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets thal includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impaiment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date. allocated to each of the cash4eneraling units that are expected lo benefit from the synergies of the combination. irrespeelive of whether other asset$ or liabilitie$ of the charity are assigned lo those units. Financial In8truments A financial asset or a financial liability is recognised only when the charity becomes a party to the onlractual provisions of the instrumenL Basic financial inslruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and Current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequenlly measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investmenl is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequenlly measured at cost less irnpaiment. Other financial inslrurnents, including derivatives. are initially recognised at fair value, unless payment for an asset is deferred beyond normal business temis or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rale of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the Statement of Financial Adivities, with the exception of hedging in$trurnenl$ in a designated hedging relationship. 22
Surf Llfe Saving Great Britain Company Limitgd by Guarantee Not9$ to the Financial Statamènts Year onded 31 Docgmber 2023 Accounting poliGies (continued) Financial assets that are measured at cost or amortised cost are reviewed for objective eviden of impairment at the end of each reporting date. If there is objective evidence of impairmenl. an impairment loss is recognised under the appropriate heading in the Slatemenl of Financial Activities in whgn the initial gain was rgcognised. For all equity instruments regardless of significance, and other financial assets that are individually 5ignrficanl. these are assessed individually for impaimient. other financial assets are either assessed individually or grouped on the basis of similar credil risk characteristics. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in 8 carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined Conlribution Plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset lo the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by Guarantse Surf Ltfe Saving GB is a company limited by guarantee and accordingly does not have any share capital.
Surf Life Saving Great Britain Company Limlted by Guarantee Notes to thg Financial Statsments Year endod 31 December 2023 Donations and Legacies Unrgstrictod Rgslrittsd Total Fund8 Funds Funds 2023 Donations Donations 52.451 23.446 75.897 Subs¢ripti011S Membership 259,808 259,808 312.259 23,446 335,705 Unréstricted Restilcted Total Funds Funds Funds 2022 Donations Donations 41,471 78,756 120,227 Subscriptions Membershlp 249,208 249,208 290,679 78,756 369,435 Charltable Activiti95 Totsl Funds Total Funds 2023 2022 Club affiliation Education Courses Education publication Education delivery Events general Events entry fees Events sponsorship 54,145 71.095 8.520 19.385 17,444 112,660 108 44,499 78.653 13.105 20.612 11.922 75,305 72 283,357 244,168 All charitable activity income 15 unrestricted in the current and previous year.
Surf Life Saving Great Britain Company Limitsd by Guarantsg Notgs to th8 Flnancial Statsm&nts Year ended 31 Dg¢embèr 2023 Investmont Income Total Funds Total Funds 2023 2022 Investment income 1.367 100 All investment income is unrestricted in the current and previous year. Other Income Total Funds Total Funds 2023 2022 Other income 18.139 Cost of Raising Donatlons and Legacigs Totsl Funds Total Funds 2023 2022 Costs of generating funds 12,215 8,523 All costs of raising donations and legacies are unrestricted in the current and previous year. 10 Expendlture on Charitsble Activities by Fund Type Unrestricted Restricted Total Funds Funds Fund$ 2023 Charitable life saving and sportin9 activities Support costs 395.893 228,746 16,412 7.034 412,305 235,780 624,639 23,446 648,085 Unrestricted Restricted Totsl Funds Fund$ Funds 2022 Charitable life saving and sporting activities Support Costs 312,510 182,459 55,129 23,627 367.639 206,086 494.969 78.756 573,725 25
Surf Life Saving Great Britain Cornpany Limitgd by Guarantee Notes to the Financial Statèmènts Y9ar gndod 31 December 2023 11 Expènditurg on Charitablg Activities by Activity Type Activiti8s Undertaken Directly Support Total Funds Costs 2023 Charitable Life Saving and Sporting Activities Govemance costs Auditors remuneration 412,305 231,530 643,835 4,250 4,250 412,305 235.780 648.085 Activities Undertaken Direclty Support Total Funds Costs 2022 Charitable Life Saving and Sporting Activitie5 Govemance costs Auditors remuneration 367,639 202.136 569.775 3,950 3.950 367,639 206,086 573,725 12 Analy818 of Support Costs Chaiitsble Llfe Saving and Sportlng Total Funds Activities 2023 Staff costs Amortlsation and depreciation Other costs 101,189 9,432 125,159 101,189 9,432 125,159 235,780 235,780 Charitsble Lifè Saving and Sporting Total Funds Activlties 2022 Staff costs Amortisalion and depreciation Other costs 89,205 9,513 107,368 89,205 9.513 107,368 206,086 206.086 26
Surf Life Saving Great Britain Company Limitsd by Guarant99 Notes to the Financial Statements Year endgd 31 December 2023 13 Net Income Net income is stated aftpr ¢hargingl(crediting)= 2023 2022 Dgpreciation of tangible fixed assets Fees payable for the audit of the financial services Fees payable to the auditor for non-audil 5eNiees Lease payments recognised as an expense 9,432 3,400 850 18,235 9,513 3,100 850 20,170 14 staff costs The total staff costs and employee benefits for the reporting period are analysed as foll¢)ws-. 2023 Total 2022 Total Wages and salaries Social Security costs Employer contributions to pension plans 322,256 27.835 6,331 288,587 24,827 5,502 356,422 318.916 The average head count of employees during th8 year was 10 (2022: 10). The average number of full-time equivalent employees during the year is analysed as follows.. 2023 No. 10 2022 Administration and management 10 No employees received employee benefits of more than £60,000 during the year12022= Nill. The key management personnel are considered to be the Chief Executive Officer. The total benefits paid to key management personnel were £56.14712022'. £42,941) 27
Surf Life Saving Great Britain Company Limitod by GuarantBe Notes to the Financial Statements Year ondgd 31 DBcernbgr 2023 15 Trustsè rnmuneration and expènsas No remuneration or other benefits from employment with the Charity or a related entity were received by the trustees during 2023 or 2022. During the year. travel. subsistence and accommodation expenses of £1,674 (2022-. £5221 were reimbursed to 4 (2022.. 1) trustees. 16 Intangible assets Goodwlll Cost At 1 January 2023 and at 31 De¢ember 2023 20.000 Amorti5ation At 1 January 2023 and at 31 Dernber 2023 20,000 Carrying Amount: At 31 Dember 2023 At 31 December 2022 17 Tangible fixed assets Short lèasehold property Plant & Fixtur95 & machinery fittingg Motor vehltles Total Cost At 1 January 2023 Additions 4,738 44.152 26.639 4.739 6,481 82,010 4.739 At 31 December 2023 4,738 H,152 31,378 6,481 86,749 Depreciation At 1 January 2023 Ch8rge for year 2,884 1.854 22.201 4.472 19.334 3,106 6,481 50.900 9,432 At 31 December 2023 4,738 26,673 22,440 6,481 60,332 Net book amounts At 31 December 2023 17,479 8,938 26.417 At 31 Detsrnber 2022 1.854 21.951 7,305 31,110 Included within plant and machinery are boats and engines wrth a total cost of £35,448 (2022.. £35,448), depreciation brought forward of £1S,142 12022= £11,596) and a depreciation charge of £3,54612022.. £3,546). 28
Surf Llfe Savlng Great Britain Company Limited by Guaranteg Notes to tha Financial Statements Year ended 310ecember 2023 18 Investmgnts Sharos in group undertakings Cost or valuation At 1 January 2023 and 31 December 2023 Carrying amount At 31 December 2023 At 31 December 2022 All investments shown above are held at valuation. 19 Investment entitles Subsidiavies and other investments The charitable company has one wholly owned subsidiary. SLSGB Training Ltd. which is incorporated in the UK. The company was dormant during the year. The charitable company owns 100Vo of the ordinary share capital of the company. The net liabilities of the doThanl company total £75512022: £7551. 20 Debtors 2023 2022 Trade debtors Prepayments & accrued income Other debtors 1.276 16,631 4,573 1.020 12,784 14.082 22,480 27,886 21 Croditors: arnounts falling duo withln one year 2023 2022 Trade creditors Accruals and deferred income Other creditors 3,594 4,400 34,125 22,585 3,950 29,250 42.119 55.785 Z9
Surf Life Saving Great Britain Company Lirnitsd by Guaranteo Notes to the Financlal Ststements Ygar endod 31 December 2023 22 Dofarrgd incorng 2023 2022 At 1 January 2023 Amount released to incom8 8,930 18,930) At 31 December 2023 Deferred income relates to income received during the year for SeICe$ which are yet to be provided al the year end. 23 Pgnsions and other post.retirement beneffts Defined contribution plan8 The amount recognised in income or expenditure as an 8xpense in relation to defined contribution plans was £6,331 12022.. £5,502). 24 Analysi8 of ¢haritable funds Unrestricted funds At q January 2023 At31 Docembor 2023 Income Expenditure General funds 252,901 615,122 {636,8541 231,169 At 1 January 2022 At31 December 2022 Income Expendlture General funds 221.446 534.947 {503,4921 252,901 Restricted funds At 1 January 2023 At31 December 2023 Income Expenditure Charities Aid Foundation Fisher Charitable Foundation 13.446 10,000 (13,446) 110.000} Restricted funds 23,446 {23,4461 30
Surf Life Saving Great Britain Company Lirnitad by Guarants Note8 to the Financial Statements Year ended 31 Decgmber 2023 24 Anatysi5 of charitsblè funds {contlnued) At 1 January 2022 At31 December 2022 Income Expendlture Charities Aid Foundation Fisher Charitable Foundation South West Water 43,756 15,000 20,000 143,7561 115,0001 120,0001 Restrtcted fvnds 78,756 178.756) The restricted funds are to be used as follows- Charities Aid Foundation Flood rescue training Fisher Charitable Foundation Volunteer beach lifeguard patrol project. South West Water Graduate lifeguard programme. Analysi$ of net assets beiween funds Unrestricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year 26.417 26.417 246,870 {42,119) 246,870 (42.1191 Net assets 231.169 231,169 Unrestrlcted Total Fund8 Funds 2022 Tangible fixed assets Investments Current assets Creditors less than 1 year 31.110 31,110 277,575 155,7851 277,575 {55,785} Net assets 252.901 252.901 31
Surf Life Saving Great Britain Company Llmitsd by Guarantee Notgs to the Financial Statements Yoar ondod 31 Dg¢gmbor 2023 26 Flnanclal Instrumonts The carrying amount for each category of financial instrument is as follows.. 2023 2022 Financial assets that ar8 dgbt instruments m9asurgd at arnortised Cost Financial assets that are debt instruments measured at amortised cost 273.288 308,686 Financial liabilities measured at amortisgd cost Financial liabilities measured al amortised cost 42.119 55,785 27 Operatinglgase commitments The total future minimum lease payments under non-cancellable operating leases are as follows.. 2023 2022 Not later than 1 year Latèr than 1 year and not later than 5 years 14.009 34.877 48,886 14,836 14,836 The amount of operating lease payments recognised as an expense during the year was £18.235 (2022: £20,170). 28 Related party transactions During the year the charity incurred expenses on behalf of its subsidiary, SLSGB Training Limited, totalling £nil (2022.. £4,174). 32
Surf Life Savlng Great Brltaln Company Limited by Guaranteo Notes to the Financial Statèrnonts Year ènded 31 Decomber 2023 29 Prior year fund comparatives Unrestricted Restricted Total Funds Funds Funds 2022 Incomo and endowments Donations and legacies Charitable activities Investment income 290,679 244,168 100 78,756 369,435 244,168 100 Total income 534.947 78.756 613,703 Expenditure Expenditure on raising fund5'. Costs of raising donations and legacies Expenditure on charitable activities 8,523 494.969 8,523 573,725 78,756 Total gxpgndituro 503,492 78,756 582,248 Net in¢omè and net rnovement in funds 31,455 48,5S5 Reconciliation of funds: Total funds brought forward 221,446 221,446 Total fund carried fOard 252,901 252,901 33
Surf Life Saving Great Britain Company Limited by Guarantee Notos to the Financial Ststaments Year ended 31 December 2023 30 Reconciliation of ngt movement in funds to net cash flow frorn opgrating activitios 2023 2022 Net movement in funds Investment in subsidiary Add back depreciation charge Deduct interest income shown in investing activities Decrease lincreasel in debtors Increase Idecreasel in creditors {21,7321 31,455 9.432 11,367) 5,406 {13,6661 9,513 1100) 2.404 {9.351) Net cash used in operating activities 121.928) 33.920 31 Analysis of Changgs in net debt At 04Qan 2023 At 31-Dg 2023 Cash flows Cash and cash gquivalents Cash 249.689 {25.299) 224.390 Total 249,689 12S,2991 224,390 At olan 2022 At 31.Dec 2022 Cash flows Cash and cash oquivalents Cash 222.145 27,544 249.689 Total 222,145 27.544 249,689 34