Company re8lstration number 03255894 IEnglond and Wo19s1 Charity regi5tratlon number 1063319 IEngland and Wale51 PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustee$ Mr P G Baker ITreasurerl MrRN Barrow Mr S Duffy Mrs J Freeborn Mr K N Hardcastle15ecretaryl Mr M Cotterell Mr A Brenan Mr G Brid8e Mr N Harllng Ichairl Prof. M Jackson (Vlce Chairl Mr S Howe Ms H Aaslarn Mr M Gillibrènd (Appolnted 22 April 20251 (Appointed 14 october 20251 (Appolnted 14 October 20251 Country of Incorporatlon Unlted Klngdom IEnglaod and Wales) 03255894 Charity registration Englarsd and Wale5 1063329 ReBlstered ofNce Patterdale Mountain Re5tue 08ilvie House Patterdale Penrith Cumbrla CAii OPJ Independent examlner David Andrew Llddle BAIHons1, FCA 4 Mason Court Gillan Way Penrith 40 8uslness Park Penrith Cumbria CAII 9GR Investment managers RBC Brewin Dolphin 12 Smlthfield Street London ECIA 9LA
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED CONTENTS Page Trustees, report Independent examiner's report io Staternent of flnancial activltles li Balance Sheet 12 Notes to the flnancial statements 13-22
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR EPJDED 31 DECEMBER 2025 The trustees present their annual report and financial ststement5 forthe year ended 31 Decernber 2025. The flnanclal statements have been prepared èccordance wlth the ac¢ounting pollcles set out In note I to the Ilnancl31 staternents and comply wlth the charfty's governing document, the Companies Act 2006, FRS 102 'The Financial Reportin8 Standard appllcable In the UK and Republic of Ireland" and the Charitie5 50RP 'Atcounting and Reportlng by Charities.. Statement of Recommended Practice applicableto charities preparingtheir accounts in accord4ncewith the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021" Oblectlve5 and actlvltlÈs Pollcles and Objectives The prin¢ipal obje¢t of the company is to promote and sustain Patterdale Mountaln Rescue Team, a charitable rescue service for411 who 5uffer5ickne55i periloranyother3dwersityon anyof the mountains In Great Brltaln and particularly on the rnountain5 of Curnbria in the vicinity of Patterdale. or while boating or bathing in the lakes, rivers and streams in the vicinlty. Srroregiesforochleving olms ond objectives All Team mernber5 need to be appropriately trained, have the Tight equipment, and be fully committed to being on call at all times. to give practical and medical a5515tance to those in danger on the hi115 and lake. Team members traln and meet regularly to develop and malntaln their rescue and flrst-aid/medical skills. and National Qualifications are gained where £ppropriate. New entrants undertake a formal probatSon8ry perk)d. The Team wlll also Ilalse wlth other rescue service5. for exarnple.. fire, police. ambulance, HM Coa5t8uard,lilebost and other rnountain reseue teams, attimes of major Incidents. All rnembers actlvely promote and support fund-raisSng, education and cornmunlty events, as public money is the only source of income. This also helps to provide a positive profile in the local community and to the many tourists who visitthe area. Publicbenefit The trustees h8ve pakl due regard to guidan issued by the Charlty Commission In deciding what activities the charity should undertake. The Charity provides a vf(al emergency 5erwlce to the general public to enèble all to enjoy outdoor activities in the 8rea.
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT {INCLUDING DIRECTOR'S REPORn ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Chalrman'$ Report by Mr N Harllng I have been prlvlleged to serve a5 Chalrof Patterdale Mountain Rescue Association foranotheryearand workwith a profe55ional and motlvated Board of Trustees. The role of the Chair is to oversee sound governance and ensure the best interests of Patterdale Mountaln Rescue Team are looked after. so that the Team Members have the ener8y and tlrne to focus on 0ratIonal Mountain Rescue rn3tter5-and save lives. Thls year The A550clatlon has ¢rUited two new Trustees who are qualifled to stand for election, respectivelyp a5 Honorary Tre3SUTer and Honorary Setretaryi as well as two candldates to fill future vac4ncie5. We attracted a number of applications which allowed us to select candidates wlth a range of skills and experience. My slncere thanks go to Peter Baker and Ken Hardcastle lor their relentless and committed work a5 Treasurer and Secretary, respectlvely. Both will be retirlng at the AGM their shoes w511 be hard to fill, and their legacy wlll Ilve on. er the past 60 years, Mountain Rescue equipment technology h35 made slgnificant progress. and one of our prioritie5 15 to enable these improvernents to benefitthe Team. Having actrss to new ideas has taneible benefits for both Team Membersand casualtles who can be cared for more effecti¥ely, wlth the latest treatments and diagnostiC5. We want the Tearn to have the latest, the Ilghtest, the stron8e5t and rn05t effectlve equlpment to make thelr lob on the fells quicker3nd safer and that In turn will benefit casualties. We have Invested In new clothin8, new equiprnent and cornprehenslve trainlng- 811 to make ourwork on the fells safer. We underst4nd that it 15 Vltal to learn from experience by regularly reviewing our performance on rescues In order to make mountain rescue a safer environment for Team Metnber5. An expenses pollcy has been formallsed to ensure that all clalms are both accountable and transparent has been approved by Trustees. In addition. we have developed a framework for reviewing appllcatlons from the Team for the funding of projects exceedlng the £S,OOOthre5ho1d, which sees a shift from 'li8ht-touch" to a tnore rlgorou5, compllance. governance, and flnanclal verifi¢ation process. The increase In the cost of providing a Mountaln Rescue service continue5 to test the Assoclatlon. Equlpment and general runnlng costs have Increased along wbth the costs associated wtth raising funds. The wellbeing ofTeam Members IS 3 prlorltyforTrusteE5, and we have Invested IntraSnlng and advlce to ensure we can support and help each other. As an emergpnry Service that undertakes challenglng rescue5 which test ourTeam Members mentally and physically. we reco8ni5e the irnportance of looking after oursElve5- and each other. We have a worklng group whlch oversees the welfare of Team Member5. That worklng group ha5 been recognised at a reglon31 and natlonal level for their forward thinking and energy. There has been a marked increase In the number of rescues. and this places a greater rsemand on Team Members, time. Local and national media has been very helpful in hlghllghtlngthe 8rowing dernand and helplngto eduteVIsItorsto The Lake Distritt on how to enjoy the fells safely. The A5$0clatlon has funded an extension to our exlsring boathouse to accommodate our new boat and improve ac$S. Thènks to the Chri5 Lewis legacy we have now ordered 3 new Land Rover Defender 130 to replace one of our older vehicles. The le8acy Is also fundlng è reglonal training event in 2026 and a letture In 2027. Both Event5 are linked to the criteria set out In the legacy and are deslgned to share best practlce In Mountaln Rescue. Members of Patterdale MRT have been Instrumental In establi5hlng an All Party Parllamentary Group IAPPGI for Voluntary Search and Rescue (SARI organisations. Th5 includes both land and marltlme SAR organisatlon5. The APPG Is looklng Zt kev issues and challenge5 that affect all in search and rescue. Already we have had succe55 in changln8 legislatSon for medlcal gèses and getting SAR vehicles exempt from exclse payrnent5. The group 15 now looking 8t Government 5UPPOrt for SAR insurance, and way5 of 5UPPOrtSng volunteers with inlurie5 5UStained during a rescue. Thls $ all 8 5ignilicant help with the financial challenge of malntsinlng SAR Team5 acr055 the country.
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT IINCLUOING DIRECTOR'S REPORT} (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 May l also thank the supporter5, fundraisers, my fellow Trustees and the Team Mernber5 for thelr tireless energy and the tirne they give to Patterdale Mount31n RescueTeam4s volunteÈrs. We areone of the few countries inthe world thatofferthis service for free. Our rnernber$ 8ive untold hours to help others. often ri5kin6 their own lives. These are the unsung heroes of the fells. who seek little gratitude and Prae. I would also liketothank our partner agendes.The Police, The Ambulonce SeNice, The Fire Service3nd His Majesty's Coastguard plus all our neighbouring Mountain Rescue Teams. The multl-agency assistance we 8et is invaluable.
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORTI (CONTINUED) FOR THE YEAR EAIDED 31 DECEMBER 2025 Team Leader's Report by Mr M Cox As the sun set5 on another yearacross the Helvellyn range, I find myself looking out from our Base at Ogifvie House with a profound sense of pride &nd a touch of weary reflection. Bein8 the Leacler of the Patierrsale Mountain Rescue Team is privilege, but it 15 a150 a rare vantage point from whlch one regularly sees and experien5 the rawest elements of both nature and human splrlt. The past two years have been the buslest in ourTeam's history. As we close the books on 2025.1 want to take a moment to look back at the ground we've covered but most importantlyi thank the people who rnade it P0S5ible for us to keep dolng what we do. Ayear of extremes The Lake Dlstrlct Is f3rn0usly fickle. but thls year has felt partloJ13Tly relentless. Our call-out ststistlC5 tell the story of a ¢han8in8 landscape. We have agaln seen a si8nlflcani rlse in 'lost and exhausted Incldents. often Involving walkers and wild campers caught out by either weather or darkness. sadly quite often re5ultinE in entirely 4voidable callout5. Key challenEe5 we faced- The"Social Media. Effect.. We've seen an increasing nurnber of Callouts for younger visltors drawn to the'hidden £ems often seen on social medla, often without the necessary gear or mountaincraft. Operational F3tigue.' With callouts increasingly occurring rnid-week and either late at night orearly in the mornin& the pressu on ourvolunteers to balance professlonal Ilves wlth rescue duties ha5 never been higher. Financial Future.. Wlth th3t same increase In callouts comes the inevitable increase in our annual runnln£ costs. When aligned with a younger dernographic of ca$u8lties who elther don't have the disposable income to be able to donate to the Team or perhaps don't èppreciate that we 3re volunteers, funded entirely by publlc donatlons, I can see hard flnanclèl tlmes ahead. To myteam.. The backbone ol PMRT To the wotnen and men of the Patterdale team.. Thank you. You are a group ol volunteer5-joiner5. builder5, teachers. tr2iners, retiree5, and health Ca profe$5ionals who drop everything the moment the call comes in. This year, you've spent hundreds of hours in the pourlng rain. Searching through the night and dedicating countless days and evenlngs to trainlng. Your professionalism Is st388erlng. Whether It's provldlng Ilfe-savlng treatment to an injured walker, ensurin8 our Land Rovers and kit are packed and ready for the next shout or Simply beln8 there with a helplng hand or a shoulder to cry on for distressed relatlve or casualty companlon, you do It without a paycheque and often without a'thank you" from those we help. l am constantly humbled by your resilience and your camaraderie. You aren't just a team- you are a fzmily. To our supporters: Our Ilfeblood It's a sobering reality that Patterdèle Mountain Rescue Team Is a charity. We recelve no dlrect government funding for our day-to-day operations. Every bandage. every spllnt, every cllmbing rope and every drop of fuel in our Land Rovers Is paid for by you the public, From those who dropped change into a Collection box to those who help or8an12e our base open days. Those who bought Team Calendar or a Duck Race tlcket to those who left us legacies in theirwi115. You are all the silent member5 of our rescue group. In a year where the cost of living has Contlnued to squeeze everyone, your gener051ty 55 nothlng Short of mlraculous. Thank vou all, stay sale. look out forone another, and rernember to check both your klt and the weather forecast one last time before you leave the valley.
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORn ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Flnancial review by Peter G Baker, Honorary Treasurer The Incomin8 Resources lor the year ended 3Lst December 2025 were £281,343. Outgoing Re50urce5 amounted to £129.144. The surplus for the period was E257.860 which Included an unre31ised gain on investment5 of £105,661. The charity has free serveS of £1,005,34112024'. E923,2091. Golng concern After makin8 appropriate enquiries. the Trustees have a reasonable expectatlon that the charitable cornpany ha5 adequate re50urce5 to continue in operational existence for the foreseeable future. For thls reason they continue to adopt the going concern basis in preparing the financial statements. Re5ervespolicy Reason5 forthe Association's Reserves The Assoclation has assessed that there are two principal reasons to hold reserves to meet pertrNed future needs.. l. The natur8 of the Team's work is such that there15 a rlsk that Sl8nificant funds could be needed at shorr notlce to replace Iternsllacilltles that are not capable of being insured orto cater for major unforeseen dernands. 2. The QUirnentt0 malntain the Team's 8ase Iogllvie House). replace vehicles on a reguL3r basis. rneet legislation, and make due 311ow3nce for depreciation have caused the Trustee5 to make provision for serveS to cover these Qu1MentS ff net Income were to be Snsufficient forthls purpos&. The Association's Reserves l. The Association holds inve5trnents in the Curnberland Building Sorietyj Penrith Building Society, 8affjlays Bank and a number of fixed term deposit accounts vi3 Flagstone Group. The As50Ci3tion also holds invested lund5 that are under the managernent of RBC Brewin Dolphin. All income is InveSted within these accounts. 2. The Associatlon's policy 15 to maintain cash reserves ol èt least two years, normal Dperatlng cost expenditure Icurrentlv appromlmately £105,000 pa l.e. £210,000). Holdlngs In excess of this serve the dual purpose of generatln8 investment incorne whilst a150 a¢¢umulating to meet significant future capital needs such as the refurbishment of vehicles and the constructlon of an extension to Ogilvie House to accomrnodzte equiprnent and improve training f4cilities. Annual depreciation of £44,330 is shown in the accounts and allowan¢e is made for the replacement costs of these assets in addition to routine operating costs in arriving at the Reserves target. How the Association maintains the above Reserves Expenditure and fundraisingdeci5ions are based on ensuringthatthe longterm a5 well as day-to-day requirements oftheTeam ère addressed. Regular Trustees meetlngs, in parallel with sound day-to-day management of the Associatlon'5 finances, and annual review of the long term lrnperatlves of the organlsation ensure that the Reserves are appropriate to the needs of the As&ociatlon. The Monitorin8 and Review Pr(Kedure The Treasurer Is sponSIble for the productlon of monthly rnanagement accounts. which are shared with the Trustees and budget holders. The Treasurer reports in detail to all Trustee meetings. and the Resee$ policy Is formally revlewed and monitored. reflecting any changing clrcumstances. on an annual basls.
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Invesrment policy Investment Policy and Performan l. Reserves have been established In 3ccordan¢e with good financlal governance practlce and the requlrements of the Charltles Commission, taking into account the advice recelved from the Assoclatlon's accountants. The slze ol the reserve 15 reviewed annually by the Trustees. The Trustees consider whether the funds to be invested for the longer terrn under our investrnent policy should match, exceed. or be less than the reserve. The policy and ics implementation are reviewed annually. prior to the Annual fjeneral Meeting IAGMI, or rnore frequently If Tequired. 2. Reserves provlde for the long term needs of the Patterdale Mountaln Rescue Tearn. Including provlslon for major infr3Structure and equlpment proletts, and potentlal 5hortfa115 of in-year incorne Meetin8 In-ye3r expendltur& requlrements. 3. The Trustees believe that It Is neces¥ry for a proportion of the re5erve5 to be invested on a mediurn to long terrn ba515 lrneaning a minimum of five to ten years and preferably considerably longer) to provide 3 return exceeding inflation. The Memorandum of Association ol PMRA provides authority for the Trustees to take such Investment declslons on behalf of the AssocSation. The Trustee5 a150 act in accordance wlth the requlrements of TheTrustee Act 2000. 4. The Trustees have determlned the followin£ investrnent objective5:_ 11 To preserve the value ol the Association'5 investments in real terms. 21 To provide a weighted average rate of return greater than UK inflation a5 measured by the Consumer Prlce Index and to dellverthls return within acceptable leve15 of risk and volatility. 31 At least 70% of the assets should be in investments that can be 311$ed within three rnonih5 in case of major unforeseen dernand5, over and above normal operatlng expeDdlture. 5. To de11ver thls pollcy, the Trustees determined that the rnanagernent of the funds Invested as above should be entrusted to a profe55ional investrnent management company. selected on the basis of a long track record of successful mèna8ement of major Sums of money. RBC Brewin Dolphin have been appointed by the As50Clation to manage our fund5 Wlth the alm of providing a balanced return combining intorne and capital growth to protect the real value of the funds. The Associatlon manages two account5., unrestricted funds for financing capltal expendlture and the long-term sustainability of the Rescue Team restricted funds that are to be used to suppon/finance speclfled projects.. vehicle refurbishment fijnd new vehicle fund tEchnic31 training and education fund benevolent fund 6. Monltorin8 of RBC Brewin Dolphln Isdelegated bytheTrusteestothe Investment Sub-comrnittee,wf(h any recommendatlons for change to be formally approved by two of the officers of the Association Includlng the Chalr lor In the absence of the Chair, the Vlce-chalrl and the Treasurer lor In the absence of the Treasurer. the Secretary). 7. The Trustees have further determined that the funds selected for investment should malntaln a balanced portfollo across, as appropri3te, a range of Investment cla55e5 including UK and overse35 equlties. government and high quality comrnercial bond5, property and cash, all subject to the adv5 of thelr professional investment manager. 8. Changes to this pollcy shall be subject to approval at a formal meeting of the TrustÉes.
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Strurture, governance and maTrament Constitutlon The CoMn¥ is registered as a charitable 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 charlty nurnber 1063329. The principal objett of the company Is to promote and sustain Patterdale Mountain Rescue Team, a charitable rescue Service for all whosufferslcknes51 peril oranyothÈr3dversltyon anyolthe rnountains inGreèt 8ritaln and particularly on the mountalns of Cumbria in the vlcinity of Patterdale or while boating or bathing in the lake5 and rivers or streams Ill the vicinitv. The trustees. who are a150 the dlrectors forthe purry)se of company law. and who served durin8 the year and up to the date of Signature of thè flnancial statements were.. Mr P G Baker ITreasurerl Mr R N Bairow Mrs M A Chllds MrSDuffv Mrs J FebOrn Mr K N Hardcastle Isecretaryl Mr M Cotterell Mr A Brenan Mr G Bridge Mr N Harling Ichairl Prof. M Jackson (Vice Chalrl Mr S Howe Ms H Haslam Mr M Gillibrand IResl8ned 22 Aprll 20251 (Appointed 22 April 20251 (Appointed 14 October 20251 (Appointed 14 October 20251 Recruitment ond uppointment oAtrustees The Trustees are elected by the charity's rnembers at the AGM. At each AGM one third of the Trustees shall reti from offlce by rotatlon. however. they shall be eligible for re*lectlon. A Chairman 4nd Vice-Ch3irman may, if wllling, serve In thelr respective posts for a maximum of six consecutlve years, subject to a bl-annual review, recommendation by the Trustees to members attending the AGM, and election by those Merrbers at each AGM.
PAERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'5 REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Pollcles Adopted for the Inductlon and TralnSn8 of Trustees New frustees are asked to read a copy of the Charlty's Artlcles of Assoclatlon, advised on the pollcy. procedure and responsibilities of the Charlty under the Charlties Act, and brlefed on their responslbllltles as Trustees. Measures are irnplemented to ensure that, in accordance with Charity Commi55ion guidance. the Assoclation'5Trustees'. understand thelr rok. - ensure delniery ol the A5soclatlon's purpose and use resources solelyfor that purpose. - work effectively as Indivlduals and as a team, making deci5ion5 collectlvely where necessary. - exerclse effective control. wlth clear pr(Kesses. and with due care, Skill and prudence. manage rlsks effectlvelv. - eng)8e expert external profe551onal support where necessary. behave with integrlty and ensure the A550ciation complies with relevant13w and re8ulations. and are open and accountable. rnlnutlng meetlngs and reportlnB publlcly. Declarations ofTrustees' actyallpotential conflicts of interest are recorded annually, and mana8ed approprlately. - Trustees are annually reminded of tharlty Commlssion suidanceon Tru5tees' duties and re5ponslbllltlesand the relevant Code and Principles of operation. Orgonisotlon(F15tructure The Charlty Trustees are all volunteers and are re5ponslble for the general control and mana8ernent of the Charity. Quarterlv meetings are held by the Trustees, and also byTeam members, to di5CU55 finance, trainlng and other relevant Issues.
PAERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORTI {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Otherm(Jtters Rlsk Management The Tru5tee5 of Patterdale Mountaln Rescue As5Dciation are committed to Maintaining a stron8 rfsk management culture and beIve that Sound risk management Is integral to good governance of the Association, effective management of the Rescue Team's operations and engagement with thelr beneficiarie5 and the wlder publlc. To this end theTrustee5 have established a Risk Policy with the aim of en5urin8 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 $u$tainability of Patterdale Mountain Rescue Team operatlons. The Trustees maintain responsibility for overall risk rnanagement and delegate responsibility for management of risks associated with Rescue Team activitie5 to the Team Leader. TheTrustees undertake a regular review of the most materlal strategic ri5k5 which the charity face5 and receive reports from the Team Leader regarding any relevant issues of an operatlonal nature, which may impart the risk profile of the charity. At quarterly meetings Trustees consider risks assoclated with financial rnanagement, including fundroi5ing, expendlture and investment,. governance,. Trustee ski115 and recruitment.. external communication and reputation; and Rescue Team operalions. The Rescue Team leadershlp similarly revlew key operational risk aa5 and provlde regular updates toTrustees regardlng team member capacity, selettion and tralnlng,, m3n3gement of operational deployments,. equlprnent. indudine vehicles, communlcatlons and inforrnation 5VStems' and medical support. Following the 2025 Risk Assessment, Trustee5 concluded that management of financial ri5k5 15 well-established, and some progre55 ha5 been rnade in completlng 8Ctlons to manage down residual Eovernance risks. Including implernent4tion of a new Conflicts Management Policy and associated processes. Actlons have been identified to rnana8e down the level ol operation>1 sk although Trustees conslder that further progress is required to brlng this down to a level they are prepar to accept. Members Llabllltv The members of the company 8uèrantee to contrlbute an armunt not exceedinB £1 to the assets of the Charlty In the event of winding up. PubliE Benefit TheTrustees of Pètterdale Mountaln Rexue Associatlon Llmlted belleve they have eomp5ied with the duty In sectlon 17 of the Charlties Act 2011 to have due regard to the public beneflt 8uidance published by the Charlty Commlsslon. The trustees, report was approved by the Board of Trusiees. MrPG8a Honorary Trèasurer Mr N Harling Chairman Date..
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED I report to the trustees on my exarnination of the financial statements of Patterdale Mountain Rescue Associatlon Limited (the ¢har4ty1 forthe year ended 310eceTnber 2025. Responsibllitle5 and basls of report As the trustees of the charity land a150 Its directors for the purposes of cornpany lawl, you are re5ponsib forthe pparatIOn of the flnancial statements in arcordance with the requirements of the Companles Act 2006. Having satisfied fnyself that the financial statement5 of the charity a not requlred to be audlted under Part 16 of the Companies Act 2006 ènd are ellglble for Independent exam5n3tion, I report in respect of rny exarnination of the chariws financial statemenrs carrfed out under section 145 of the Charltles Act 2011. In carrying out my examlnatlon I have followed the Directlons 8iven by the Charity Cornmi5510n under section 14515llbl of the Charitie5 Art 2011. Independent exarniner'5 statement Since the ch3rlWs gross income exceeded E250,000, the independent examlner must be 3 member of a body 115ted In SECtion 145 of the Charitie5 Act 2011, 1 confirm that l quallfied to undertake the examlnatlon because l am a member of In5tltute of Chartered Accountants in EnBland and Wale5, which is one of the listed bodies. I have cornp1eted my examlnatlon. I confirm that no rnatteT5 have come to my attention In connecrion wlth the examlnatlon Eing me cause to believe that in any material respect.. accountlng records were not kept in respect of the charity a5 iequired by sectlon 386 of the Con)panles Act 2(K>6. the financial ststement5 do not accord with those cordS. or the fin8nclal statements do not comply wlth the accounting requirement5 of Section 396 of the Cornpanies Acr 2006 other than any requirernent that the financial 5taternent5 give a true and falr vlew, whl¢h Is not a matter considered as part of an Independent examinatlon,. or the financial statements have not been prepared In accordance wlth the methods and prlnciples of the Statement of Recommended Practlce for accounting and reporting by charities appllc3ble to charitles preparlng their financial statements In accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attentlon should be drawn in this report in orderto enab a proper understsndlng of the financial ststements to be reached. Davld Andrew Llddlo BA(Honsl, FCA 4 Mason Coun Glllan Way Penrlth 40 BusSness Park Penrlth Curnbria CAII 9G Date.. 10-
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestrlcted fvnd5 2025 Restr5cted funds 2025 Total Unre5trlcted funds 2024 Restrlcted lunds 2024 Total 202S 2024 Notts Income and endowmerfs from.. Donation5 and legacies Charitable activities Investrnents Other In¢ome 177,695 18,519 14,010 15,004 46,468 224,163 18,519 23.657 15,004 222,192 19,272 10.766 S77.597 799,789 19,272 20.198 9.647 9,432 Total In¢ome 225.228 56,115 281.343 252,230 587,029 839,259 Expenditur• on.. RalsSng funds Charitable 4Ctl¥ltles 8,061 118,673 8,061 121,083 IL,940 205,162 11,940 215,975 2,410 10,813 Total expenditure 126,734 2,410 129,144 217,102 10,813 227,915 Net gains on Investments 13 52,241 53,420 105,661 43.112 43,112 Net income and movement in funds 150.735 107.125 257,860 78,240 576,216 654.456 Reconciliation ol funds: Fund balanS at l January 2025 1,543,099 631,912 2,175,011 1,464,859 55,696 1,520,555 Fund balan¢es at 31 December 2025 1.693.834 739.037 2.432.871 1.543.099 631.912 2,175.011 The st3tement of fvnanclal actlvllles Includes all ga5ns and losses COgnISed in the year. All income and expendlture derlve from contlnulng actlvities.
PATTERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED BALANCE SHEET AS A T31 DECEMBER 2025 2025 2024 Notes Flxed assets Tanglble a55ets Investments 15 16 688,493 1.294.559 619,890 576,966 1,983.052 1.196.856 Current assets Stock5 Debtors Cash at bank and In hand 17 18 5,680 15,712 514,406 23,591 955.253 535,798 185.9791 982,904 4,7491 Credltors,. amounts falling due wlthln one year 19 Net current as$et$ 449,819 978,155 Toial assets less current Ilabllltles 2,432,871 2.175.011 The lunds of the Chartty Restrlcted Income funds Unrestricted funds 20 21 739,037 1,693,834 631,912 1,543.099 2,432,871 2,175,011 The company Is entltled to the e¥emptSon from the audit requirement contained In sethion 477 of the Comp8nles Act 2006, for the year ended 310ecember 2025. The dlrectors acknowledge their responsibilitiÈs for complying with the requirements of the Companies Act 2006 wlth respect lo accounting record5 and the preparation of financial statements. The merDber5 have not requlredthe cornpany to obtaln an audlt of its flnancl315tatements fortheyearln questlon in accordance wlth sectlon 476. These financial statement5 have been prepared In 3ccordanTr with the provislons appllcèble to companle5 Subject to the small companles regime. The financlal statements were approved by the trustees on MrPG8a HonoraryTrea5urer Mr N Harling Chalrman 12
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountin8 pollcie5 Charity informatlon Patterdale Mountaln Rescue A550ciation Lirnitsd Is a prlvate company Ilrnlted by guarantee incorporated In England and Wales. The registered Offi Is Patterdale Mountaln Rescue, 08ilvie House, Patterdale. Penrith, Curnbria, CAII OPJ. 1.1 Basis of preparation The financial statements have been prepared in accordance with the charity'5 Eoverning document. the Cornpanles Act 2006, FRS 102 'The Flnancial Reporting Standard applicable In the UK and Republic of Ireland and the Charltles SORP 'Accounting and Reportin8 by Charities.. Statement of Recorvmended Practlce appllcable to charitie5 preparlng thelr accounts In accordance with the Financial Reportlng Standard appllcable in the UK and Republic of Ireland IFRS 1021 The charlty Is a Public Beneflt Entity as defined by FRS 102. The Charity has taken advantage of the provi5ion5 in the SORP for charities not to prepare è statement of cash flows. The financial statements are prepared in sterlinBi which is the functlonal currency of the charity. Monetary amounts in these flnancial Statements are rounded to the nearest £. The financlal st3tement5 have been prepared under the historical cost conventlon, lrnodified to include the revaluation of freehold propertles and to include Investment propertles and certain financial instruments at fairvaluel. The principal accountlng pollcles 3dopted are set out below. 1.2 Going conr At the time of approving the financial statements. the trustees have a reasonable expectatlon that the Charity has dequate resources to continue in operational existence forthe foreseeable future. Thus the trustees contlnue to adopt the go5ng concem basls of accountlng In preparlng the f5nan¢ial statements. 1.3 Charitable funds Unrestrlcted funds are avallable for use at the discretion of the trustees in furtherance of their Charftable objectlves. Restritted funds are subject to speclfic conditions by donors or 8rantors as to how they may be used. The purposes and uses of the restricted fund5 are Set out in the notes tothe financial statements. Endowrnent funds are subject to specific condition5 by donors that the capltal must be maintained by the charlty. 1.4 Income Income Is recognlsed when the ch4Tlty Is legally entitled to it after any perfOrnce conditions have been met, the amounts can be measured rellably. and It15 probable that income will be received. Cash donations are recognised on CeIpt. Other donation5 are recoenised once the ch3rity h3s been notifled of the donatSon, unle55 performance conditions requ1 deferral Of the amount. Incorne ta¥ recoverable in relatlon to donatlons recelved under Gift Ald or deeds of coven3nt Ss reco8nised at the time of the don8tlon. Legacies are recoenised on recelpt or otherwise if the charity has been notled of an impendlng dlstribution, the amount is known, and receipt is expetted. If the amount is not known, the legacy is treated as a contingent asset. 13-
PATTERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accountln8 politiès 1.5 Expendlture Expendlture Is reco8nised once there is a le8al or constructive obli8ation to transfer economic benefit to a third party, It 55 probable that a transfer of econornic benefits will be required in settlement, and the amount of the obligation can be measured reliablv, Expendlture is classified by activity. The costs of each att1vSty are made up of the total of dlrect costs and shared costs. including support Costs involved in undertaking each act5vity. Dlrect costs attrlbutable to a sin8le actlvlty are allocated directly to that attivlty, Shared Costs which contribute to more than one activity and 5UPPOrt C05t5 which are not attrlbutable to a single activity are apportioned between those activitie5 on a ba515 consistent with the use of resources. Depreciation charge5 are allocated on the portion of the 8S5et's use. 1.6 Tangible fixed a55et5 Tangible fixed assets are initially measured at C05t and Subsequently rnea5ured at C05t or valuation, net of depreclatlon and any impairment losses. Depreciation is recognlsed so as to wrlte off the cost orvaluation of assets less their resldual values over thelr useful Ilves on the followlng bases.. Freehold land and buildings Plant and machinery Fixtures and fittings Motor vehicles Property straight line over 50 years, land is not depreclated 20% reducing balance over 3 years 5trai8ht line IO% and 20Yo reducing balance The gain or loss ari5in8 on the disposal of an asset 15 determined as the difference between the sale proceed5 and the carryin8 value of the asset, and is recognised in the statement of financial activities. 1.7 Flxed asset Investments Fixed asset inve5trnents are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Chan8es in fair value are recogni5ed in net incomellexpenditurel for the year. Transaction costs are expensed as ineurred. 1.8 Impairment offlxed assets At each reporting end date. the charity reviews the carryln8 amounts of Its tan8lble and Intan8lble assets to determine whether there is any indication that those assets have suffered an impairrnent loss. If any such indication exists, the recoverable amount of the asset Is estimated in order to determine the extent of the impalrment10ss lif anvl. 1.9 Stock5 Stocks are stated at the lower of cost and estimated selllng prlce less costs to complete and sell. Cost comprises direct materials and, where applic3ble. dlrect labour costs and those overheads that have been incurred in bringing the Stocks to their pie5ent location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacernent cost and cost. Net realisable value is the estimated selling price less all estlmated cosis of completion and costs to be Incurred in marketing, sellin8 and distribution. 1.10 Cash and cash equivalents Cash and cash equiv31ents include cash In hand, deposlts held at tall with banks. other 5hort-term liquid investments with origlnal maturitie5 of three months or less, and bank overdraft5, Bank overdrafts are shown wlthin borrowlngs In current 14-
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policie5 1.11 Flnanclal Instruments The charity has elected to apply the provisions of Sertion Il'Basic Financial In5trument5' and Section 12 '0ther Financial Instruments Issues. of FAS 102 to all of its financial instruments. Financial instruments are Tecognised in the charity's balance sheet when the charity become5 party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amount5 presented in the financial 5tatement5, when the 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 a55et and settle the liability simyltaneouslv. Basiclinonciolassets Basic financial assets. which include debtors and cash and bank balances, are initially measured 8t transaction price includin8 transaction costs and are subsequently carried at amortised c05t Using the ellective interest rnethod unless the arrangement constitute5 a financing transaction, where the transaction is measured at the present value ol the future receipts discounted at a market rate of interest. Financial asset5classified as receivable within oneyear are not amort15ed. Bosicfinunciol liobilities Basic financial li3bilitie5, including creditor5 and bank loans are initially recognised at transaction price unless the arrangernent Constitutes 3 financing trèn5action, where the debt instrument is measured at the present value of the future payment5 discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are Subsequently carried at arnortised cost, usin8 the effective interest rate method. Trade creditors are obligations to pay for goods or seTvice5 that have been acquired in the ordinary course of operations from suppliers. Amounts payable are clasSfIed as current liabilities il payment 15 due within one year or less. If not, they are presentèd as non-eurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition offinonciol liubilrties Flnanclal IlabllltSes are dereco8nlsed when the charit¢5 contractual obligations explfe or are discharged or cancelled. Critl¢al a¢ntIng ertlmate$ and judgements In the application of the charitvs accounting policies, the trustee5 are required to make lydgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimate5 and associated assumptions are based on historical experience and other fattors that are considered to be relevant. Actual results may differ from these estimate5. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountin8 e5timate5 are re£ognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 15-
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Income from donations and legacle5 Unrestrlcted funds 202S Restritted fund5 20Z5 Total Unrestricted lunds 2024 Restricted fund$ 2024 T¢rtal 2025 2024 Donètions and glfts Legacles Other 78,686 71,455 27,554 5,468 40.000 85.154 111,455 27.S54 73,195 129.777 J9,220 124 577,473 73,319 707,250 19,220 177,695 46,468 224,163 222,192 577.597 799,789 Donatlons and gifts Donations HMRC Gift Aid Collection Boxes 67,033 6,547 5,106 6,468 73.501 6,547 5.106 60,771 6,732 5,692 124 60.895 6.732 5,692 78,686 6,468 85.154 73,195 124 73.319 Income from ¢haritoblt activltle5 Unrestricted fund5 2025 Unrestrlcted funds 2024 Other TTadlThg Actlvltles Sale of goods 18,519 19,272 Inme from Investments Unrestrfcied fvnds 2025 Restrlcted funds Z025 Total Unrestrl¢ted fund5 ZOZ4 Restritttd funds 2024 Total 2025 2024 Income from listed Investment5 Bank interest recelvable 1.787 12.223 1.787 21,870 2,041 8,725 2,041 18,157 9.647 9.432 14.010 9,647 23,6S7 10.766 9,432 20,198 18
PArrERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 other Income Unrestricted funds 2025 Unre5tricled funds 2024 Net gain on d15posal of tan8ible fixed assets 15,004 Expendlture on ralslng fltnds Unre$tri¢ted fvnds 2025 Unrestrlcted lund$ 2024 Fundraising and putsli¢liv Cost of other tradin8 attivlt5es- Shop costs 3,530 6,763 Trading costs Cost of raisinÈ donations and legacles- Donatlons 4,531 5,177 Total costs 8.061 11,940 Expendlture on charitable activitle5 Support Co$ts Support Costs 2025 2024 Dlrect costs DepCiatIon and amortlsatlon Provision of mountain rescue 44,330 71,192 50,150 156,745 115,522 206.895 Share of 5UPPOrt and goverThance tost515ee note 91 Support 5.561 9,080 121,083 215,975 Analysis by fund unStrICted funds Restricted fund5 118,673 2,410 205.162 10,813 121,083 215,975 17-
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 support ¢ost5 allotated to actlvltle5 2025 2024 Comrnunication5 and IT General Offl¢e Governance costs 993 2.321 Z,247 1,102 4,848 3,130 5,561 9,080 Analy5ed between.. Support Cost5 5,S61 9,080 10 Independent examination fee5 Fees payzble to the chèrity's Independent examiner and a550clates'. 2025 Z024 Independent exarninatlon of the financial statements of the charltv 2,129 1,950 11 Trustees Noneof thetrustees loranypersons connected withthernl received any remuneration or benefitsfrom the charityduring the year. 12 Employees The company doe5 not have any employees. The company has trustees butthey did not receive any mUneratIOn in the year.12024- £Nill 13 Galns and losses on Investments Unrestrtcted funds 2025 Restr5cted lund$ 2025 Total Unre5trlcted funds 2024 Restrlcted funds 2024 Total 2025 2024 Gainslllossesl arfslng on= Revaluation of inve5tment5 52.241 53.420 105,661 43,112 43.112 18-
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 14 Taxation The charlty Is exempt from taxation on its activities because all its income Is applied for charitable purposes. 15 Tanglble flmed assets Freetrvld lind Plant •hd machlnery Fixtures and Motoryehlcles Cost At l January 2025 Additions Dlsposals 733,111 29,261 226,999 38,828 222,636 83,918 1.221,574 113,179 122.3381 122,3381 At 31 DeTrmber 2025 762,372 204,661 38,828 306,554 1,312.415 Depre¢iatitsn and impairment At l January 2025 Depreciation charged in the year Ellmlnated In respett of dlsposals 263,872 13,798 124,261 22,166 122,0921 38.828 174.723 8,366 601,684 44,330 122,0921 At 31 December 202S 277.670 124,335 38,828 183,089 623.922 Carrying amount At 31 December 2025 484,702 80.326 123,465 688,493 At 31 December 2024 469,239 102.738 47,913 619,890 16 Flxèd asset investments Listed investments Cost or valuation At l January 2025 Addltlons Fair Value MoveTnent5 576,966 630,774 86,819 At 31 Decernber 2025 1,294.559 Carrying amount At 31 December 2025 1.294,559 At 31 December 2024 576,966 All investments have beenvalued at falrvalue,these values have been provided bythe fund rnana8ersthemselves, Brewin Dolphin at the year end date. 19-
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 17 Stocks ZOZ5 2024 Flnlshed Bood5 5,680 4.060 18 Debtors 2025 2024 Amounts fallln8 due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 29 9,335 6.348 17.511 6,080 15.712 23,591 19 Creditor5.' amount$ talling due wlthln one year 2025 2024 Trade creditors Accruals and deferred income 83,779 2.200 2,529 2,220 85.979 4,749 20-
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 20 Restrlcted funds The $tricted funds of the charity comprlse the unexpended balance5 of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At l January 2025 Incorning resources Resour$ expended Tr8nsfersGaln5 and losses At 31 December ZOZ5 Te8m bulldlng fund Benevolent fund Vehlcle fund ReEional training and education fund Vehicle refurblshment fund- Jean Hindson Tearn welfare fund 778 279,798 121,336 17601 1181 12,747 719 292,545 122.055 230,000 46,750 276,750 41.201 8,118 41,201 6,486 11.6501 18 631,912 109,535 12.4101 739,037 Pr•vious year.. At l January 2024 Incomlng re50ur¢e5 Re50urce5 expended TrdnslersGairt$ and losses At 31 December 2024 Rescue Vehicle Renewal Fund Team bulldlng fund Benevolent fund Vehicle fund Regional traininE and edueatSon fund 1,336 4,360 50.0(K) 11.3361 124 236,905 120,000 13,7061 17,1071 778 279,798 121,336 1,336 230.0(X) 230,000 55,696 587.029 110.8131 631,912 The team building funds represents monles received from outside the charlty and Is there for the purpose of team buildinglsocial events for the volunteers. The Chris Lewls legacy represents funds received from the Chris LewisTrust Fund. ThÈse funds wlll be used to provide.. A new rescue vehi¢le Regional training and education A benevolent fund The vehlcle refurbishment fund has been established from a legacy received frotn Jean Hlndson on the 18 August 2025. The Team Welfare Fund represents monies generated outside the charity. The purpose of thi5 fund is to benefit the welfare of Team members when the demands on theTeam have been particularly hlgh or there has been an ernotionallv challenginE rescue. The monies raised are to fund social event 21
PAThERDALE MOUNTAIN RESCUE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 21 Unre5trirted funds The unrestricted funds of the charity ¢ompri5e the unexpended balances of donations and 8rant5 whlch are not subject to speclfic conditlOD5 by donor5 and grantors as to how they may be v5ed. These include desi8nated funds whlch have been set aside out of unrestTlCted funds bythe trustees for 5PEcific purposes. At l January 2025 IncomlnK resource5 Resourre5Galns and losses At 31 December expended 2025 General funds 1.543,099 225,228 1126,7341 52.241 1,693,834 Prevlous year: At l January 2024 Incomln re50urce5 Re50urcesGalns and losses At 31 December expended 2024 General funds 1,464,859 252,230 1217.1021 43,112 1,543,099 22 Anolysl$ of net a5set5 between funds Unrestricted fvnds 2025 Restrl¢ted fund5 20Z5 Total 2025 At 31 DeCemr 2025.. Tanglble è55ets Investments 604.575 755,330 333,929 83,918 539,229 115,890 688,493 1,294,559 449,8L9 1,693,834 739,037 2,432.871 Unre5trlcted fvnds 20Z4 Restilcted tunds 2024 Totsl 20Z4 At 310ecember ZOZ4.' Tanglble assets Investrnents Current a55et511liabllitlesl 619,890 576,966 346,243 619,890 576,966 978,155 631,912 1,543,099 631.912 2,175,011 23 Related party transactions There were no related party transactlons In the year. 22-