Charfty registration number 1063329 (England and Wale5)
Compary registration number 03255894
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
LEGAL AND ADMINisfRATIVE INFORMATION
Trustees
Mr P G Baker (Treasurer)
Mr R N Barrow
Mrs M A Childs
Mr S Duffy
Mrs J Freeborn Ico-opted Vice-chair 7 Cktober 20241
Mr K N Hardcastle Isecretaryl
Mr M Cotterell
Mr A Brenan
(Appointed 7 Cktober 20241
(Appointed 14 May 20241
(Appointed 14 May 20241
(Appointed 14 May 20241
(Appointed 14 May 20241
Mr G Bridge
Mr N Harling (Chair 9 July 20241
Prof. M Jackson
Charlty number IEn8land and Wales)
1063329
Company number
03255894
Registered offlce
Patterdale Mountain Rescue
Ogilvie House
Patterdale
Penrith
Cumbria
CAii OPJ
Independent examlner
David Andrew Liddle BAIHonsl. FCA
4 Mason Court
Gillan Way
Penrith 40 Business Park
Penrith
Cumbria
CAII 9GR
Investrnent manager5
RBC Brewin Dolphin
12 Smithfield Street
London
ECIA 9LA

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
CONTENTS
Trustees, report
Independent examiner's report
Statement of financial activities
io
Balance sheet
li
Notes to the financial statements
12-22

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accountlng policies set out in note I to the finantial
statements and comply with the charity's governing document, the Companies Act 2LIJ6. FRS 102 "The Financial Reporting
Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financlal
Reportiri8 Standard applicable in the UK and Republic of Ireland IFRS 1021"
ObJectSves and actlvltles
Pollcle5 •nd Objectlves
The prlnclpal objert of the company Is to promote and sustain Patterdale Mountain Rescue Team, a charitable rescue Service
for all who suffer slckness, peril or any other adversity on any of the mountsins in Great Britain and partitularly on the
mountains of Cumbrla In the vicinity of Patterdale, or while boatlng or bathin8 in the lakes, rivers and streams In the vlcSnity.
Stroteglesfor ochievinq aim5 ond objectives
All Team members need to be appropriately trabned, have the right equipment. and be fully tommitted to being on call at all
times, to give practlcal and medical assistance to those in danger on the hills and lake. Team members train and meet regularlv
to develop ond maintain their rescue and first-aidlmedical skills, and National Qualifications are gained where appropriate.
New entrants undertake a forrnal probationary perSod. The Team will also liaise with other ￿ScUe servlces, for example.. fSre,
police, ambulance. lifeboat and other mountain rescue teams, at times of major incidents. All members actively promote and
support fund-raisin8. education and community events. as public money is the only source of income. Thi5 also help5 to
provide a posltive proflle in the local community and to the many tourlsts who vi51t the a￿a.
Public benefit
The trustees have pald due regard to guidance issued by the Charlty Commlsslon In deciding what actlvities the charlty should
undertake.
The Charity provides a vital emer8enry servSce to the general public to enable all to enjoy outdoor activities in the area.

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance
Chairman's Report by Mr N Harlin
l am privileged to have been voted in a5 Vice Chair, and later Chair, of Patterdale Mountain Rescue Association last summer
and to carry on the good work laid down by previous dedicated Chairpersons.
I would like to thank the previous chair of the Association. Chris Sanderson. for his wise counsel and the way he steered the
Patterdale shÉp through some challenging and emotional times.
The role is key to ensuring good Governance, support is delivered to the Team and the best interests of PMRT are looked after
so the Team has the space, ener￿ and time to focus on operational matters and save lives.
(her the past 60 years, equipment, technology and expertise has develo￿ enormously. It is key that we support these
changes and the Team have access to new ideas to allow this to happen,. for the rescuers to be safe and MO￿ efficient and for
the casualty to be cared for more quitkly. with the latest treatments and diagn05es.
We want the Team to have the latest, the lightest. the strongest and most effective equipment to make their job on the fe115
quicker and safer- and that in turn will benefit the casualty.
We have invested in new clothin& new equipment and great training- all to make rescuing safer, drier and warmer and also to
allow the risk encOUnte￿d on the mountsin to be reduced.
Subgroups within the Board of Trustees meet regularly to focus on key areas of Governance. The Investment Subcommittee
have been looking at treasury management including appropriate and safe investment opportunities for our funds.
A Risks Group review and revise the organisation's risk management including our ability to recognise. mitigate and retord
risks effertively and use this knowledge in our training and approach to re%ues. It is vital to learn from experience and to both
debrief, and review operational activities trj make Mountain Rescue a safer environment.
Last year we purchased a new Rigid Inflatrble Boat IRIBI to allow us to reach the inaccessible areas across Ullswater and
support other rescue organisations on the lake. We are very grateful to those who helped fund this boat, which allows these
rescues to be safer and quicker.
We are also very grateful to the Chris Lewis Trust Fund for its generous donation which will enable us to support members
following any future accident. The funds will also support additional training at a ￿gional level and introduce an annual I
biennial lecture for the benefit of all involved in Mountain Rescue a5 well as supporting the acquisition of a new vehicle when
required.
I would like to thank the supporters. the fundraiser5. my fellow Trustees, the Team Member5 and oFficers for the tireless
energy and time they give to Patterdale Mountain Rescue Team as volunteers.
We are one of the few countries in the world that offer this service for f￿e. Our members give untold hours to the Team and
to help others, often risking their own lives- these are the unsung heroes of the fells, who seek little gratitude and praise. who
do this because they want to help others. and ensure they are safely escorted from the fells.
We a￿ grateful to the public for their generous support which allows us to continue our V￿rk and we will continue to support
our Team and give them the tools to rescue those who need help.

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Tearn leader's Report by Mr M Cox
A51 draw towards the end of my first year as Team Leader and embark on my fourth decade with Patterdale Mountain Rescue
Team, I'm filled with pride and a huge sense of ￿sponSibl11ty-
The Team's 60th Anniversary celebrations We￿ a poignant reminder of the dedication and unwavering commitment that
Members past and present have shown.
In my time with the Team I have served under four exceptional Team Leaders, each one driven to elevate our standards,
techniques and equipment. My commitment is to build on this important legacy while propelling the team forward,. ensuring
PMRT remains at the forefront of Mountsin Rescue in the UK.
During 2024 we said goodbye to a number of long seThing and pivotsl team members: their skills. experience and camaraderie
will be keenly missed but we wish them all well and hope that they will remain engaged in the Team's activities and remain
part of the wider PMRT family.
We also welcomed a number of new members into the fold with si¥ members continuing the journey through their
probationary period and four being voted in as full Team Members. With a younger generation of members beginning to find
their feet in the Team and embrace £￿ater roles and ￿SponSibl11t1es. l am confident that the longevrty of Patterdale Mountain
Rescue Team remains assured.
The past year has certainly presented us with its challenges. 2024 brought a signifbcant surge in callouts.. a stark increase from
62 incidents in 2023 to a staggering 109. This increase represents not just numbers. but often ￿al people in need, occasionally
in vulnerable and dangerous situations.
While we remain steadfast in our response to the traditional slips. trips. and injuries. a concerning trend has emerged.. a
marked rise in avoidable incidents.
These incidents, often stemming from poor planning. inadequate preparation, unrealistic goals or a lack of understanding
about our role, have placed an unnecessary strain on our ￿SOurceS and, more importantly. our members. The plight of many
young wild campers. unprepa￿d for the challenges of the fells. losing their way land occasionally eguipmentl in the dark or
dverse weather, serves a5 a stark example of this growing problem.
This t￿nd is not isolated to Patterdale; it's a shared concern across a number of Lake District Mountain Rescue Teams.
Recognising the need for a proarttve approach. one that prioritises education and prevention, we are committed to
significantly amplifying our educational efforts during the summer of 2025. 1 hope that we will be able to engage with visitors
in a number of ways - in person at Open Days at the Base, through social media. in print and on television to disseminate
crucial safety information.
We will focus on creatin8 easily digestible content to empower indNiduals with the knowledge and skills necessary to navigate
the fells in a safe and responsible manner.
l anticipate 2025 being another busy year for PMRT. be that through rescue5, training or our other endeavours listed above.
As such. I thank you for your continued support and hopefully, rf we should meet in 2025, it will be under benign or happy
circumstance.

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES. REPORT (INCLUDING DIREcfoR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnanclal review by Peter G Baker. Honorary Treasurer
The Incoming Resources for the year ended 31st December 2024 We￿ £839,259. Outgoing Resource5 amounted to £227,915.
The surplus for the period was É654.456 which included an unrealised 8ain on investments of £43,112.
The charity has free reserves of £923,20912023.' £794.8191.
Going concern
After making appropriate enquirie5, the Trustees have a reasonable expectatbon that the charitsble company has adequate
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the goSng
concern basis in preparing the flnanclal statements.
Reserves pollcy
Reason5 for the Assoclatlon's Rese
The Associatlon has assessed that there are two prlnclpal reasons to hold reserve5 to meet perceived future needs:
l. The nature of the Team's work is such that there is a rlsk that s18nificant funds could be needed at short notlce to replace
Items/facilitie5 that are not capable of bein8 insured or to cater for major unforeseen demands.
2. The requlrement to malntain the Team's Base Iogilvie House), replace vehicles on a regular basis. meet leglslatlon, and
make due allowance for depreciation have caused the Trustees to make provision for reserves to cover these reqvSrements If
net income were to be InsufficSent for this purpose.
The Assoclatlon's Re5er¥es
l. The Association holds investments in the Cumberland Building Sxiety, Penrith Building Society, Barclays 8ank and a number
of fixed term deposit accounts via Flagstone Group Limited. the income from which has been reinvested within these
accounts. The Association also holds accounts with Fidelity International and Rathbones Asset Management. The intome from
the formerls re-invested and from the latter paid into our Barclays CUr￿nt account.
2. The Associatlon's poliry 15 to maintain cash re5efves of at least two years, normal operatin8 Cost expenditure (currently
approximately £105,000 pa i.e. £210,￿1. Holdin85 in excess of this serve the dual purpose of 8eneratln8 investment Income
whilst a150 accumulatin8 to meet significant future capital needs such as the refurbishment of another vehicle and the
construction of an extension to Ogilvie House to accommodate equipment and improve training facilitles. Annual
depreciation of £S0.150 is shown in the accounts and allowance is made for the replacement costs of these a55ets in additlon
to routine operating costs in arriving at the Reserves target.
How the Assoclatlon malntslns the abo¥* Reserves
Expenditure and fundraising decisions are based on ensuring that the long term as well as day-to-day ￿quIrementS of the
Team are addressed. Re8ular Trustees meetings. in parallel with sound day-to-day management of the As50eiation and the
Team, and annual review of the long term imperatives of the organisation ensure that the Reserves are appropriate to the
needs of the Association.
The Monltorfng and Revlew Pr¢xedure
The Treasurer is responsible for the production of monthly management accounts, which are shared with the Trustees and
budget holders. The Treasurer reports in detail to all Trustee meetings. and the Reserves policy is formally reviewed and
monitored, reflecting any changing circumstances. on an annual basis.

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES. REPORT (INCLUDING DIREcfoR'S REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment policy
Investment Pollcy and Performance
l. Reserves have been established in accordance with good financial govemance practice and the requirements of the
Charities Commission, taking into account the ad¥Trce received from the Association's accountant5. The size of the reserve 15
reviewed annually by the Trustees. The Trustees consider whether the funds to be invested for the longer term under this
policy should match, exceed. or be less than the reserve. The policy and its implementstion are reviewed annually, prior to the
Annual General Meeting IAGMI. or more frequently if required.
2. Reserves provide for the long term needs of the Patterdale Mountain Restue Team, including provision for malor
infrastructure and equipment projects, and potential shortfa115 of in-year Income meetln8 in-year expenditure requirements.
3. The Trustees believe that it is nece55ary for a proportion of the Reserves to be invested on a medlum to long term basis
Imeanin8 a minimum of five to ten years and preferably considerably longer) to provide a return exceeding inflation. The
Memorandum of Assoclation of PMRA provides authority for the Trustees to take such investment decisions on behalf of the
Assoclation. The Trustees also art in accordance with the requirements of The Trustee Act 2000.
4. The Trustees have determined the following investment objettives.'_
11 To preserve the value of the Association's investments in real terms.
21 To provide a weighted average rate of return greater than UK inflation as rneasu￿d by the Consumer Price Index
and to deliver this return within acceptable levels of risk and volatility.
5. At least 70% of the assets should be in investments that can be realised within three months in case of major unforeseen
demands, over and above normal operating expendlture.
6. To dellver thls polScy, the Trustees determlned that the management of the funds invested as above should be entrusted to
a professional investment management company, selected on the basis of a long track record of successful management of
major sums of money. RBC Brewin Dolphin have been appointed by the Associatton to manage our funds with the aim of
provlding a balanced return combining income and capital growth to protect the real valve of the funds.
The Association manages two accounts..
unrestricted funds for financing capitsl expenditure and the lon8-term sustainability of the Rexue Team
- ￿$trIcted funds that are to be used to supportlfinance specified projects:
new vehicle fund
technical trainin8 and education fund
benevolent fund
7. Monitorlng of R8C Brewln Dolphln is delegated by the Trustees to the Investment Sub-committee, with any
recommendations for change to be formally approved by two of the officers of the A550ciation including the Chair lor in the
absence of the Chair, the Vice-chairl and the Treasurer lor in the absence of the T￿asUrer, the Secretary).
8. The Trustees have further determined that the funds selerted for investment should maintain a balanced portfolio across, as
approprtate, a range of investment Classes including UK and overseas equities. government and high quallty commerclal
bonds, property and cash, all subject to the advice of their professional investment manager.
9. Changes to this policy shall be subject to approval at a formal meeting of the Trustees.

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Strurture. governance and management
Constitution
The company is registered as a tharitable company limited by guarantee and was set up by a Trust deed.
The company is constituted under a Trust deed dated 27 September 1996 and is a registered charity number 1063329.
The principal objert of the company 15 to promote and sustain Patterdale Mountain Rescue Team, a charitable ￿ScUe seThice
for all who suffer sickness. peril or any other adversity on any of the mountains in Great Britain and particularly on the
mountains of Cumbria in the vicinity of Patterdale or while boating or bathing Fn the lakes and rivers or st￿aMS in the vicinity.
The trustees. who are also the directors for the purpose of company law, and who served during the year and up to the date of
signature of the financial statements We￿..
Mr P G Baker (Treasurer)
MrR N 8arrow
MrsA F Bell
Mr M A Blakey
Mrs M A Childs
Mrmcox
MrSDuf
Mrs J Freebom (Co-opted Vice-chair 7 lTrtober 20241
Mr K N Hardcastle (Secretary)
Dr A McAlea
Ms P J Newport
Col. IRetdl Christopher Sanderson OBE JP DL
Mr M Cotterell
Mr A Brenan
IResigned 17 May 20241
(Resigned 14 May 20241
IReshgned 14 May 20241
IRe5i8ned 14 May 20241
IRe5igned 14 May 20241
(Resigned 14 May 20241
(Appointed 7 (ktober 2024}
IAppointed 14 May 20241
IAppointed 14 May 20241
(Appointed 14 May 20241
(Appointed 14 May 20241
(Appointed 14 May 2024 and resigned 16 Mayl
Mr G Bridge
Mr N Harling (Elected Vice-chair 14 May 2024- Chair 9 July 20241
Prof. M Jackson
Mrs Swilson
Recruitment Jnd oppointment of trustees
The Trustees are elected by the charity's members at the AGM. At each AGM one third of the Trustees shall
retire from office by rotation, however, they shall be eligible for reelection.
A Chairman and Vice-chairman may. if willin& serve in their respective posts for a maximum of six consecutive years, subject
to an annual review, recommendation by the Trustees to members attending the AGM. and election by those Members at
each AGM.

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Policie5 Adopted for the Inductlon and Trainirg of Trustee5
New Trustees are asked to read a copy of the Charity's Articles of Association, advised on the policy, procedure and
responsibilities of the Charity under the Charities Act. and briefed on their responsibilities as Trustees.
Measures are implemented to ensure that, in accordance with Charity Commission guidance, the Association's Trustees..
understand their role.
- ensure delivery of the Association's purpose and use resources solely for that purpose.
work effectively as individuals and as a team. making decisions collectively where necessary.
exercise effective control, with clear processes. and with due care. skill and prudence.
rnanage risks effectivelv.
- engage expert external professional support where necessary.
behave with integrity and ensure the Assotiation complies with relevant law and ￿gUlatiOns.
- and a￿ open and accountsble, minuting meetings and reporting publicly.
Declarations of Trustees, actuallpotential conflicts of Interest a￿ recorded annually, and managed appropriatelv.
Trustee5 are annually reminded of Charity Commission guidance on Trustees, duties and ￿spOnsIbl11t1eS and the relevant
Code and Principles of operation.
Organisotionolstructure
The Charity Trustees are all volunteers and are responsible for the general control and rnanagernent of the Charity. Quarterly
meetings are held by the Tfustees, and also by Teèm members, to discuss finance, training and other relevant issues.

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Other mutters
Rlsk Management
The Trustees of Patterdale Mountain Rescue A$￿￿latIOn a￿ committed to maintaining a strong risk management culture and
believe that sound risk management is integral to good governance of the As50eiation. effective management of the Rescue
Team's operations and engagement with their beneficiaries and the wider public.
To this end the Trustees have established a Risk Policy with the aim of ensuring every effort is made to manage risk
appropriately. to enable the charity to respond to internal and external risks and to ensure the long-term sustsinability of
Patterdale Mountain Rescue Team operatior*s.
The Trustees maintain responsibility for overall risk management and dele￿te ￿SPOnsibl11ty for management of rlsks
associated with rescue team activities to the Team Leader.
The Trustees have reviewed the most material strategic risks which the charity faces and receive regular report5 from the Team
Leader regarding any ￿leVant issues of an operational nature. which may impact the risk profile of the charity.
At each meeting of the Trustees, rrsks associated with the following business areas a￿ considered and, where necessary.
mitigation steps estsblished:
-Financial management
-Fundraising
-Investment management
-Expenditure control and funding ￿qUests
-Governance, Trustee skills and recruitment
-External communication and reputation
-Rescue Team operations
The Rescue Team leadership similarly ￿VIeW key operational risk areas and provide regular updates to Trustees, including:
-Team member capacity, selertion and training
-management of operational deployments
-Equipment. including vehicles. communications and infomation systems
-medical support
Members Liability
The members of the company guarantee to contribute an amount not exceeding f I to the assets of the Charity in the event of
windingup.
Public Benefft
The Trustees of Patterdale Mountain Rescue A5￿ciatIon Limited believe they have complied with the duty in section 17 of the
Charities Act 2011 to have due regard to the public bellefit guidance published by the Charity Commission.
The tru5tees' ￿port was approved by the Board of Trustees.
MrPGBa
er
Mr N Harling
Chairrnan
Honorary Treasurer
Date:

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
I report to the trustees on my examination of the financial statements of Patterdale Mountain Rescue Association Limited (the
charity) for the year ended 31 December 2024.
Responslbilltles and basls of report
As the trustees of the charlty land also its directors for the purwses of company lawl, you are responsible for the preparation
of the financial statements in accordance with the ￿QuireMents of the Companies Act 2(M)6.
Having satisfied myself that the financial statements of the charity are not required to be audlted under Part 16 of the
Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the charity's
financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examlnatlon I have followed
the Directions given by the Charity Commi55ion under 5ertbon 1451511bl of the Charities Act 2011.
Independent examlner's st•tement
Slnce the charity's gross income exceeded £250,OCrf), the independent examiner must be a member of a body listed in section
145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member of Institute
of Charte￿d Accountant5 in En8land and Wales. which is one of the listed bodies.
I have completed my examlnatlon. I confirm that no matters have come to my attention In connectlon with the examlnatlon
Ivin8 me cause to believe that in any material respect:
accounting records were not kept in respect of the charlty as required by sertion 386 of the Companies Att 21XJ6.
the financial statements do not accord with those record5. or
the flnanclal statements do not comply with the accounting requirements of section 396 of the Companles Act 2006
other than any requirement that the financial statements glve a true and fair view, which Is not a matter considered as
part of an Independent exarnination,. or
the flnancial statements have not been prepared Sn accordance with the methods and principles of the Statement of
Recommended Practlce for accounting and reporting by charities applicable to charities p￿parIng their financial
statements in accordance with the Flnantial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
I have no concerns and have come across no other matters In connertion with the examlnatlon to which attention should be
drawn In th15 report in order to enable a proper understanding of the financial ststements to be reathed.
Oavld Andrew Llddle BA{Hons), FCA
4 Mason Court
Gillan Way
Penrith 40 8uslness Park
Penrith
Cumbria
CAII 9GR
pfli,J

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unlestricted
funds
2024
Restrlrted
fund5
2024
Totsl UnTestricted
funds
2023
Restrlcted
fvnds
2023
Total
2024
2023
Notes
Incorne from:
Donations and legacies
Charitable attivities
Investments
222,192
19.272
10.766
577.597
799,789
19,272
20.198
If￿,926
13.929
5,264
50,750
211,676
13,929
5,264
9,432
Totsl income
252.230
587.029
839.259
180.119
50.750
230.869
ExpendFture on:
Raising funds
Charitable activities
11.940
205,162
11.940
215.975
12,545
126.697
12,545
131,175
10,813
4,478
Total expenditure
217.102
10,813
227.915
139,242
4.478
143,720
Net gains on investments
12
43.112
43.112
49,578
49,578
Net income and movement in
fund5
78,240
576,216
654.456
90.455
46,272
136.727
Reconcillation of funds:
Fund balances at l January 2024
1.464.859
55,696
1,520.555
1.374.404
9.424
1,383,828
Fund balances at 31 December
2024
1,543.099
631,912
2.175,011
1.464.859
55.696
1,520,555
The statement of financial artivities includes all gains and losses recognised in the year. All income and expenditure derive
from continuing activities.
10-

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
BALANCE SHEEr
AS AT 31 DECEMBER 2024
2024
2023
Notes
Flxed assets
Tangible assets
Investments
14
619,890
576.966
670,040
533,854
15
1.196.856
1,203,894
Current assets
Stocks
Debtors
Cash at bank and In hand
16
4.850
18,993
337,474
17
23.591
955,253
982,904
14.7491
361,317
144,6561
Credltors: •mounts tallln8 due wlthln one year
18
Net current assets
978,155
316,661
Total assets less current Il•bSlltSes
2,175,011
1,520,555
The funds of the charlty
Restricted Income funds
Unrestrlcted funds
19
20
631.912
1.543,099
55,696
1,464,859
2,175,011
1,520,555
The company Is entltled to the exemption from the audlt requi￿rnent contslned In sectlon 477 of the Companles Act 2006, for
the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying Wlth the requirements of the Companles Act 2(M)6 wlth respect
to accounting records and the preparation of financlal statements.
The members have not required the company to obtain an audit of its financial ststements for the year In questSon in
accordance with section 476.
These flnanclal statements have been p￿pared in accordance with the provlslons applicable to companies subject to the small
companie5 regime.
The financial statements were approved by the trustees on ... .....
Mr P G Baker ITreasurer)
Trustee
Mr N Harling Ichairman)
Trnsteè
Company ￿giStratIon number 03255894 IEngland and Wale5)
11

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcSes
Charity information
Patterdale Mountain Rescue Association Limited is a private company limited by guarantee incorporated In England and
Wales. The registered office is Patterdale Mountain Rescue. Ogilvie House. Patterdale. Penrith, Cumbria, CAII OPJ.
1.1 Accountln8 convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act
2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP
"Accotjnting and Reporting by CharFties: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable bn the UK and Republic of I￿land IFRS 1021"
The charity is a Public 8enefit Entity as defined by FRS 102.
The charity has taken athantsge of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in
these financial statements are rounded to the nearest £.
The financial statements have been p￿pared uftder the historical cost convention. Imodified to include the revaluation
of freehold properties and to include investment properties and certsin financial instruments at fair valuel. The principal
accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has
adequate resources to continue in operational existence fof the foreseeable future. Thus the trustees continue to adopt
the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the disC￿tion of the trustees in furtherance of their charitable objectives.
Restrirted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capitsl must be maintsined by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any perforniance conditions have been met, the
amounts can be measured reliably, and it 15 probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the
donation. L¢nless performance conditions requi￿ deferrnl of the amount. Income tax recoverable in relation to
donations received under Gift Aid or deeds of covenant 15 recognised at the tirne of the donation.
Legacies are recognised on receipt or otherwtsse if the charity has been notified of an impending distribution. the
amount is known, and receipt is expected. If the amount is not known. the legacy is treated as 3 contingent asset.
12-

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles
Icontlnuedl
1.5 EJ(pendlture
Expenditure is recognised once there is a legal or construrtive obligation to transfer economic benefit to a third party. it
is probable that a transfer of economlc benefits will be required in settlement, and the amount of the obligation can be
measured reliably.
Expenditure is classified by activity. The costs of each artivity are made up of the total of ￿1￿ct costs and shared costs.
Including support cost5 involved in undertaking each activity. Dlrect costs attributable to a single activity are allocated
directly to that activity. Shared costs which contribute to more than one activity and SL¢PPOrt costs which are not
attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Depreciation charges are allocated on the portion of the asset's use.
Website
1.6 Tanglble flxed assets
Tangible fixed assets are Inltially meaSU￿d at cost and subsequently measured at cost or valuation, net of depretiatlon
and any impairment losses.
3 years Straight line
DepreclatSon 15 recognlsed so as to write off the cost or valuation of assets less their residual values over their useful
lives on the following bases..
Freehold land and bulldin8S
Plant and machinery
Fixtures and fittin8S
Motor vehicles
Property Straight line over 50 years, land Is not depreclated
20% reducing balance
over 3 years straight line
IO% and 20% reducing balance
The gaSn or loss arising on the disP05al of an asset is determined as the difference between the sale proceeds and the
carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Flxed asset In¥estments
Flxed asset Investments are Initially measured at transaction price excluding transattion costs, and are subsequentlv
measured at fair value at each reportlng date. Changes in fair value are recognised in net income/lexpenditurel for the
year. Transaction costs are expensed as incurred.
1.8 Impalrment of flxed assets
At each reporting end date. the charity reviews the carrying amounts of its tangible and intangible assets to determlne
whether there is any indlcation that those a￿ets have suffered an impairment loss. If any such indication exists, the
recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any).
IS Stocks
stoc￿ are stated at the lower of tost and estimated selling price less tosts to complete and sell. Cost comprises direct
materials and, where applicable, dirert labouT costs and those overheads that have been incurred in brin8ing the stocks
to their present location and condition. Items held for distributlon at no or nominal consideration are measured the
lower of replacement cost and cost.
Net realisable value Is the estimated selling price less all estimated costs of completion and costs to be incurred in
marketing, selling and distribution.
1.10 Cash and cash equlwJlents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments
wlth original rnaturities of three months or less, and bank oNErdrafts. Bank overdrafts a￿ shown within borrowir¢gs in
current liabilities.
13-

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Account5ng policles
Icontlnuedl
1.11 Flnan¢lal Instrurnents
The charity has elected to apply the provisions of Section 11 'Baslc Flnanclal Instruments, ènd Settion 12 '0ther
Flnancial Instruments Issues, of FRS 102 to all of its financial instruments.
Flnancial Instruments are recognised in the charity's balance sheet when the charlty becomes party to the contractual
provisions of the Instrument.
Financlal assets and liabilities a￿ offset, with the net amounts presented in the financial statements, when there Is a
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise
the asset and settle the liability simultaneously.
Boskflnonelol 055ets
Basic financial assets, which include debtors and cash and bank balances, aTr initially measured at transattlon prSce
Includlng tfansaction costs and are subsequently carrled at amortised cost usin8 the effertive interest method unless
the arrangement constitutes a financing transartion, where the transaction is measured at the present value of the
future receipts discounted at a market rate of interest. Financial assets classifled as receivable wlthin one year are not
amortlsed.
Baslcflnonclol Ilabllltles
Baslc financial liabilities. including creditors and bank loans are initially reco8nised at trnn5a¢tion prlce unless the
arrangement constitutes a finanting transaction, where the debt instrument is measured at the present value of the
future payments dlscounted at a market rate of interest. Financlal Ilabilitles classified as ￿Vable within one year are not
amortlsed.
Debt instruments are subsequently carried at amortised c05t, U5in8 the effectlve Inte￿t rate method.
Trade creditors are obllgatlons to pay for goods or seThices that have been acquired In the ordlnary course of operatlons
from suppllers. Amounts payable are classified as current liabilities if payment Is due within one year or less. If not, they
are presented as non-current liabilities. Trade creditors are recognised InStlèlly at transactlon prlce and subsequently
measured at amortlsed cost using the effective interest method.
Oeretoqnltlon olfinanclol Ilobllltles
Flnancial Ilabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
Crltlcal accountlng estlmates and judgements
In the appllcatlon of the charity's accounting policies. the trustees are required to make lud8ements, estlmates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
estimates and associated assumptions a￿ based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
retognised in the period in which the estimate is revised where the ￿vision affects only that period, or in the period of
the revision and future periods where the ￿vIsion affeets LN)th current and future periods.
14-

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacies
Unrestrirted
funds
Restrfrted
funds
2024
Totsl Unrestricted
funds
2023
Restrirted
funds
2023
Total
2024
2024
2023
Donations and gifts
Legacies
Other
73.195
129,777
19.220
124
577,473
73.319
707.250
19,220
21,430
121.465
18,031
50.750
72,180
121,465
18.031
222,192
577,597
799,789
IflJ.926
50.750
211.676
Donations and gffts
Donations
HMRCGift Aid
Collection Boxes
Other
60,771
6.732
5.692
124
60.895
6.732
5.692
58.673
6.570
6.187
150,0001
750
59.423
6,570
6,187
50,000
73,195
124
73,319
21,430
50,750
72,180
Income from charitsble activltles
Unrestricted
funds
2024
Unrertricted
funds
2023
Other Trading Activltle5
Sale of goods
19,272
13,929
Intome from investments
Unrestricted
funds
2024
Restrirted
funds
2024
Total
Unrestrirted
funds
2023
Restricted
fvnds
2023
Total
2024
2023
Income from listed
investments
Bank interest receivable
2,041
8.725
2,041
18,157
2.195
3,069
2,195
3.069
9.432
10,766
9.432
20.198
5,264
5,264
15-

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on raising funds
Unrestricted
funds
2024
Unrestricted
fvnds
2023
Fundraising and publicity
Cost of other trading activities - Shop costs
6.763
4,799
Trading costs
Cost of raising donations and legacies- Donations
5,177
7.746
Total costs
11,940
12,545
Expenditure on charitable artivities
Support Costs Support Costs
2024
2023
Dlrect costs
Depreciation and amortisation
Provision of mountain rescue
50.150
156,745
40.620
83,020
206,895
123,640
Share of sUPPOrt and governance costs Isee note 8)
Support
9.080
7,535
215.975
131.175
Analysls by fvnd
Unrestricted funds
Restricted funds
205.162
10.813
126.697
4,478
215,975
131,175
16-

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support Costs •llocated to actlvitles
2024
2023
Communications and IT
General Office
Governance costs
1,102
4,848
3,130
1.076
4,064
2,395
9,080
7,535
Analysed between:
Support Costs
9,080
7,535
Independent ex•rnln•tlon fees
Fees payable to the charity's independent examiner and associates:
2024
2023
Independent examination of the financial statements of the charity
1,950
1,953
10 TrustetS
None of the trustees lor any persons connected with them) received any remuneration or beneflts from the charlty
durin8 the year.
Employees
The company doe5 not have any employees. The company has trustees but they dld not recelve any remuneratSon Sn the
year.12023 £Nill
12
Galns and losses on Investments
Unrestrlrted
fvnds
2024
Unrestrlrted
fvnds
2023
Gainslllossesl arising on:
Revaluation of investments
43,112
49.578
17-

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13
T#￿tIon
The charity is exempt from taxation on its activities because all its income 15 applied for thariLible purposes.
14
T•nglble flxed assets
Freehold knd
and bulldln
Plant and
mathlnery
Fixture5 and Motor b*hk
At l January 2024
733.111
242.249
38.828
222,636
1,236,824
At 31 December 2024
733.111
242,249
38,828
222.636
1,236,824
Deprecl¥tlon •nd Srnp¥lrmefit
At l January 2024
Depreclatlon charged in the year
250,660
13,212
112,862
26,649
38,828
164,434
10,289
566,784
50,150
At 31 December 2024
263,872
139,511
38.828
174,723
616,934
Carryln8 amount
At 31 December 2024
469,239
102,738
47,913
619,890
At 31 Oecember 2023
482,451
129,387
58.202
670,040
15
Flxed •sset In¥tstmÈnts
Llsted
In¥estments
Cost or valuatSon
At l January 2024 & 310ecember 2024
533,854
Carrylng amourt
At 31 December 2024
533,854
At 31 December 2023
533.854
All investments have been valued at fair value. these values have been provided by the fund managers themselves,
Fidelity and Rathbones at the year end date.
16 Stocks
2024
2023
Finlshed goods
4.850
18-

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17
Debtors
2024
2023
Amounts talling due within one year:
Other debtors
Prepayments and accrued incorne
17.511
6.080
16,271
2.722
23,591
18,993
18
Credltors: arnounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
2.529
2,220
1,366
43,290
4,749
44,656
19
Restrlrted funds
The restricted funds of the charity comprise the unexpended balance5 of doftations and grants held on trust subject to
specific conditions by donors as to how they m8y be used.
At ljanuary
2024
Incoming
resouTces
Resources
expended
Transfers At 31 December
2024
Rescue vehicle renewal fund (Mobile 41
Team buildin8 fund
Benevolent fund
Vehicle fund
Regional training and education
fund
1.336
4,360
50.(M)O
11,3361
124
236.905
120.LKKI
13.7061
17.1071
778
279.798
121,336
1.336
230.￿)
230,000
55.696
587,029
110,8131
631.912
19-

PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19
Restrlrted funds
Icontlnuedl
Prevlous year:
At l January
2023
Incomlng
resources
Resources
expended
Transfers At 31 Dttern￿r
2023
Fixed asset fund
Rescue vehicle renewal fund
Imobile 41
Crowdfunder vltal slgns monitor
fund
Chri5 Lewis support fund
Team bulldin8 fund
Chrls Lewls fund
816
18161
1.336
1,336
11,(J)91
12,1501
15031
2.150
4,113
750
4,360
50,CM)O
9.424
50,750
14.4781
55,696
Flxed asset restrlcted funds represents purchases of fixed assets from specific grants where restrlctlon5 apply.
The vehlcle renewal fund represents a fund for the purchase of new fescue vehlcle Imoblle 41.
The Crowdfunder vital signs monltor fund represents funds raised towards the purchase of a vltal s18ns monltor. The
monltor was purchased in 2023 and 55 now being depreciated in line with the
depreclatlon polScy set out by the Charity.
The team buildlng funds represents grants received towards the purpose of team bulldln8 events for the volunteers.
The Chris Lewls fund represents the donatlon received from the Chris Lewis Trust Fund. These funds wlll be used to
provlde:
A new rescue vehicle
Regional trainin8 and education
A benevolent fund
20 Vnrestrlcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject
to specific conditions by donors and grantors as to how they may be used. These include deslgnated fund5 which have
been set aside out of unrestricted funds by the trustees for specific purpose5.
At l January
2024
Incornin8
res(￿rceS
ResourcesGalns and losse5 At 31 December
expended
2024
General funds
1.464,859
252,230
1217.1021
43,112
1,543,099
-20-

PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20
Unrestrirted funds
{Continued}
Previous year:
At l January
2023
Incoming
resources
ResourcesGal￿ and1055es At 31 December
expended
2023
General funds
1.374.404
180.119
1139.2421
49,578
1.464.859
21
Analysis of net a55ets between funds
Unrestrirted
fvnds
2024
Restrirted
funds
Total
2024
2024
At 31 December 2024:
Tangible assets
Investments
Current assetsllliabilitiesl
619.890
576.966
346.243
619,890
576.966
978,155
631.912
1.543,099
631,912
2.175.011
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
At 31 December 2023:
Tangible assets
Investments
Current assetsllliabilitiesl
670,040
533.854
260,965
670,040
533,854
316,661
55,696
1,464,859
55.696
1,520,555
Related party transactions
There were no related party transattions in the year.
21