## BAY SEARCH & RESCUE
## ANNUAL ACCOUNTS
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
## CHARITY NO. 1090880
BAY SEARCH & RESCUE
## ANNUAL REPORT AND FINANCIAL STATEMENTS
## FOR THE FINANCIAL YEAR ENDED 30[TH] NOVEMBER 2024
**Charity Number** 1090880 **Company Number** 4329355 **Trustees (and Company Directors)** G J Parsons M Hodgson S Stebbings S M Balderstone D T Spencer-Barnes J S Spencer-Barnes
## **Office Address**
49 Beetham Road Milnthorpe Cumbria LA7 7QN
## **Independent Examiner**
Andrew Lishman Jackson & Graham Lynn Garth, Gillinggate Kendal Cumbria LA9 4JB
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BAY SEARCH & RESCUE
## TRUSTEES REPORT
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
## **Governing Document**
The organisation is a charitable company limited by guarantee, incorporated on 27th November 2001 and registered as a charity on 4th March 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association which have been updated in line with the model articles as recommended by and under the guidance of the Charity Commission.
## **BSAR and Continued Commitment to the Community**
BSAR are proud to report that the operational team continues to operate directly in line with its core principles, objectives and values in ensuring that life-saving support can be provided in support of our statutory emergency services at any time of day or night 365 days a year.
## **Recruitment and Appointment of Management Committee**
The BSAR structure, governing document and governance plan are regularly reviewed and updated to ensure that the charity is effectively managed in line with required national and legislative requirements.
## **The Board of Trustees**
The board membership has remained stable during this reporting period with six trustees meeting quarterly via video conferencing. The AGM has been conducted with those Trustees due to stand down due to required annual rotation re-elected.
## **In Summary**
We are pleased to report another stable and functional year for BSAR.
We continue to review and develop both our operational and commerial resilience to ensure full functionality in the effective delivery of our objectives as a life saving search and rescue charity.
Steve Stebbings On behalf of Bay Search and Rescue
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BAY SEARCH & RESCUE
TRUSTEES REPORT
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
## **Statement of Trustees/Directors’ Responsibilities**
The trustees (who are also directors of the charity for company law) are responsible for preparing the Trustees’ report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources during the year. In preparing those financial statements, the trustees/directors should follow best practise and are required to:
- select suitable accounting policies and then apply them consistently,
- observe the methods and principles in the charity SORP,
- make judgements and estimates that are reasonable and prudent,
- state whether applicable accounting standards and statements of recommended practice have
- been followed, subject to any material departures and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume
- that the charitable company will continue in operation.
The trustees/directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for safeguarding the assets of the charitable company and hence for taking reasonable step for the prevention and detection of fraud and other irregularities.
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## BAY SEARCH & RESCUE
## STATEMENT OF FINANCIAL ACTIVITIES
## FOR THE FINANCIAL YEAR ENDED 30[TH] NOVEMBER 2024
||||**2024**|**2024**|**2024**|2023|
|---|---|---|---|---|---|---|
|||**Unrestricted**||**Restricted**|**Total**|Total|
||**Note**||**Funds**|**Funds**|**Funds**|Funds|
|**INCOMING RESOURCES**|||**£**|
**£**|
**£**|**£**|
|Incoming resources from generated funds|||||||
|Voluntary Income|||||||
|Donations and Legacies||2|34,069|-|34,069|28,418|
|Other Income|||||||
|Government Support Grants|||-|-|-|-|
|Interest Receivable|||176|-|176|221|
|Activities for Generating Funds|||||||
|Shop and Internet Sales|||379,238|-|379,238|330,628|
|**TOTAL INCOMING RESOURCES**|||£413,483|
£ -|£413,483|£359,267|
|**RESOURCES EXPENDED**|||||||
|Cost of generating funds|||||||
|Fundraising Trading costs & expenses|||||||
|Costs relating to Shop & Internet Sales||3|(256,398)|-|(256,398)|(190,278)|
|Charitable Activities|||||||
|Costs of Activities in furtherance of the|||||||
|Charity’s objectives||4|(56,846)|(7,394)|(64,240)|(82,564)|
|Support costs for the Costs of Activities in|||||||
|Furtherance of the Charity’s objectives||5|(34,226)|-|
(34,226)|(38,261)|
|Governance costs||6|(19,519)|-|(19,519)|(16,550)|
|**TOTAL RESOURCES EXPENDED**||£(366,989)||£(7,394)|£(374,383)|£(327,653)|
|**NET INCOMING/(OUTGOING) RESOURCES**|||||||
|**before transfers and other recognised gains/losses**|||46,494|(7,394)|39,100|31,614|
|**Transfers between Funds**|||-|-|-|-|
|**NET INCOMING/(OUTGOING)**|||||||
|**RESOURCES**|||46,494|(7,394)|39,100|31,614|
|**Net Movement in Funds**|||46,494|(7,394)|39,100|31,614|
|Retained Surpluses from previous years|||356,614|147,292|503,906|472,292|
|Retained Surpluses carried forward|||£403,108|£139,898|£543,006|£503,906|
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## BAY SEARCH & RESCUE
## BALANCE SHEET AS AT 30[TH] NOVEMBER 2024
**----- Start of picture text -----**
Note 2024 2023
£ £
Fixed Assets
Fixed Tangible Assets 7 302,582 297,463
Current Assets
Debtors 8 35,457 31,876
Cash at Bank 9 215,782 188,118
251,239 219,994
Creditors: Amounts falling due within one year 10 (10,815) (13,551)
NET CURRENT ASSETS 240,424 206,443
Total Assets less Current Liabilities £543,006 £503,906
Capital & Reserves
Unrestricted Funds 11 403,108 356,614
Restricted Funds 12 139,898 147,292
£543,006 £503,906
**----- End of picture text -----**
The Financial Statements on page 4 to 11 were approved by the Board of Trustees on ................................ and signed on its behalf by:
Steve Stebbings Trustee
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## BAY SEARCH & RESCUE
## NOTES TO THE ACCOUNTS
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
## 1. Accounting Policies
- The financial statements have been prepared under the historical cost convention, with exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP2005) published in 2005, the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies Act 2006. The principle accounting policies adopted in the preparation of the financial statements are set out below.
The charity has adapted the Companies Act formats to reflect the special nature of the charity’s activities.
## a) Company Status
The charity is a company limited by guarantee. The members of the company are the trustees/directors names in the Directors Report. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## b) Fund Accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charges against the specific fund. The aim and use of each restricted and is set out in the notes to the financial statements.
## c) Incoming Resources
- (i) All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## (ii) Donations and Grants
Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. All grants and voluntary income are accounted for gross when receivable, as long as they are capable of financial measurement.
Gifts in kind are included at valuation and recognised as income when they are distributed to the charity. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Retail income from donated goods is accounted for when the sale takes place.
## d) Resources Expended
All expenditure is accounted for on an accruals basis exclusive of VAT except where it cannot be recovered and has been classified under headings that aggregate all costs related to the category. Where
costs cannot be directly attributed to particular heading they have been allocated to activities on a basis consistent with use of the resources.
Fund-raisings costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. The costs of fundraising trading do not include any valuation of donated goods sold. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
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BAY SEARCH & RESCUE
## NOTES TO THE ACCOUNTS (continued)
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
|1.
e)
f)
2.
a)
b)
c)|Accounting Policies(continued)
Fixed Tangible Assetsare included at historical cost,
Depreciation is provided to write off the cost, less estimated residual values, of all fixed tangible
assets over their expected useful lives. It is calculated at the following rates and methods:
Buildings
5% straight line
Hagglunds Amphibious Personnel Carriers
10% reducing balance
Sherp ATV
10% reducing balance
Plant, Machinery & Equipment
20% reducing balance
Motor Vehicles
20% reducing balance
Airboat
10% reducing balance
Donations & Grants comprise:
**2024**
2023
£
£
Unrestricted
Donations
28,501
18,653
Gift Aid
3,988 7,512
Miscellaneous
1,580
2,253
34,069
28,418
Restricted
Donations
-
-
-
-
Total
£34,069
£28,418|
|---|---|
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## BAY SEARCH & RESCUE
## NOTES TO THE ACCOUNTS (continued)
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
|3.
Costs relating to Shop & Internet Sales
Salaries & National Insurance
Rent, Rates & Insurance
Heat, Light and Water
Repairs, Cleaning and Sundry Expenses
Stationery, Printing, Postage & Telecommunications
Till & Internet Sales Costs
Shop Set-up Expenses
Equipment Depreciation
4.
Cost of Activities in furtherance of the charity’s objectives comprise:
Repairs & Maintenance of Equipment
Depreciation
Loss/profit on FA disposal
Protective Clothing
Water rescue systems-Pathway
Motor Expenses
5.
Support Costs for the Costs of Activities in furtherance of
the charity’s comprise:
Insurance
Rent, Utilities and Other Premises Costs
Advertising & Fund Raising
Training, Subscription & Medicals
6.
Governance Costs of the charity comprise:
Telecommunications
Stationery & Postage
General Administrative Expenses
Hire of equipment
Travel, Subsistence & Entertaining
Bank Charges
Book-keeping, Accountancy & Independent Examination Fees
Legal & Professional Fees|**2024**
£
171,897
48,332
8,685
14,621
984
8,781
2,789
309
256,398
**2024**
£
23,696
38,406
(12,201)
2,976
-
11,363
64,240
**2024**
£
20,301
11,109
850
1,966
34,226
**2024**
£
3,097
121
4,870
961
3,247
1,414
4,035
1,774
19,519|2023
£
129,002
32,341
4,463
13,070
1,285
7,589
2,142
386
190,278
2023
£
8,313
44,926
271
8,195
8,500
12,359
82,564
2023
£
20,977
11,988
488
4,808
38,261
2023
£
3,314
563
3,143
992
1,395
1,220
4,260
1,663
16,550|
|---|---|---|
|||
|
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BAY SEARCH & RESCUE
## NOTES TO THE ACCOUNTS (continued)
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
|7.
Fixed Tangible Assets comprise:
Hagglund
Motor
Carrier
Airboat Vehicles
£
£ £
Cost
At 1stDecember 2023
104,675
48,829
230,572
Additions
-
-
-
Disposals
(40,818)
(6,925)
(31,000)
At 30thNovember 2024
63,857
41,904
199,572
Depreciation
At 1stDecember 2023
32,160
33,182
174,052
Charge in Year
5,225
1,562
9,556
On Disposals
(20,552)
(6,093)
(25,799)
At 30thNovember 2024
16,833
28,651
157,809
Net Book Value
At 1stDecember 2023
72,515
15,647
56,520
At 30thNovember 2024
47,024
13,253
41,763
Plant &
Station
Shop
Equipment
Buildings Equipment
£
£
£
Cost
At 1stDecember 2023
198,462
96,524
17,582
Additions
6,973
63,160
-
Disposal
-
- -
At 30thNovember 2024
205,435
159,684
17,582
Depreciation
At 1stDecember 2023
166,500
28,594
16,037
Charge in year
9,630
7,299
309
On Disposal
-
-
- (
At 30thNovember 2024
176,130
35,893
16,346
Net Book Value
At 1stDecember 2023
31,962
67,930
1,545
At 30thNovember 2024
29,305
123,791
1,236
|7.
Fixed Tangible Assets comprise:
Hagglund
Motor
Carrier
Airboat Vehicles
£
£ £
Cost
At 1stDecember 2023
104,675
48,829
230,572
Additions
-
-
-
Disposals
(40,818)
(6,925)
(31,000)
At 30thNovember 2024
63,857
41,904
199,572
Depreciation
At 1stDecember 2023
32,160
33,182
174,052
Charge in Year
5,225
1,562
9,556
On Disposals
(20,552)
(6,093)
(25,799)
At 30thNovember 2024
16,833
28,651
157,809
Net Book Value
At 1stDecember 2023
72,515
15,647
56,520
At 30thNovember 2024
47,024
13,253
41,763
Plant &
Station
Shop
Equipment
Buildings Equipment
£
£
£
Cost
At 1stDecember 2023
198,462
96,524
17,582
Additions
6,973
63,160
-
Disposal
-
- -
At 30thNovember 2024
205,435
159,684
17,582
Depreciation
At 1stDecember 2023
166,500
28,594
16,037
Charge in year
9,630
7,299
309
On Disposal
-
-
- (
At 30thNovember 2024
176,130
35,893
16,346
Net Book Value
At 1stDecember 2023
31,962
67,930
1,545
At 30thNovember 2024
29,305
123,791
1,236
|Sherp
ATV
£
78,915
-
-
78,915
27,571
5,134
-
32,705
51,344
46,210
**Total**
£
775,559
70,133
(78,743)
766,949
478,096
38,715
52,444)
464,367
297,463
302,582|
|---|---|---|
||
17,582
16,037
309
- (||
||
16,346
1,545
1,236
||
The Cost of Station Buildings is recorded at cost of materials actually paid for. Labour and materials were also donated, and these were not capable of quantification.
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## BAY SEARCH & RESCUE
## NOTES TO THE ACCOUNTS (continued)
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
|8.
9.
10.
11.|Debtors
Vat
Prepayments
Cash at Bank and In Handcomprises:
CAF Bank – Current Account
Barclays Bank – Current Account
Paypal Account
Cash in Hand
Creditors: Amounts falling due within one year
Trade Creditors
PAYE & NIC
Accruals
Unrestricted Funds
Balance at Start
Movement in funds for the year
Balance at End|**2024**
£
15,080
20,377
35,457
**2024**
£
59,934
155,355
36
457
215,782
**2024**
£
1,985
3,327
5,503
10,815
**2024**
£
356,614
46,494
403,108
|2023
£
13,002
18,874
31,876
2023
£
87,843
99,794
24
457
188,118
2023
£
5,071
2,680
5,800
13,551
2023
£
317,363
39,251
356,614|
|---|---|---|---|
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## BAY SEARCH & RESCUE
## NOTES TO THE ACCOUNTS (continued)
## FOR THE YEAR ENDED 30[TH] NOVEMBER 2024
|12.|Restricted Funds
Inflatable Hagglund/
Plant &
Boat
Vehicles
Equipment
£
£
£
At 30th November 2022
1,422
14,641
8,318
Grants & Donations received in 2023
-
-
-
Costs Incurred
-
-
-
Depreciation
(142)
(1,464)
(832)
At 30th November 2023
1,280
13,177
7,486
At 30thNovember 2023
1,280
13,177
7,486
Grants & Donations received in 2024
-
-
-
Costs Incurred
-
-
-
Depreciation
(128)
(1,318)
(749)
At 30thNovember 2024
1,152
11,859
6,737|Projects
£
130,548
-
-
(5,199)
125,349
125,349
-
-
(5,199)
120,150|**Total**
£
154,929
-
-
(7,637)
147,292
147,292
-
-
(7,394)
139,898|
|---|---|---|---|
The Equipment Fund arises from grants and donations to the Charity which are used to purchase equipment
Unrestricted Funds so as to write off the fund balance at the same rate as the underlying assets.
The Projects Fund arises from grants and donations to the Charity for specific purposes. When these purposes have been fulfilled (including incurring costs and expenses) the funds are transferred to Unrestricted Funds so as to reduce the costs and expenses incurred by that Fund for that purpose.
## 13. Transactions with Trustees/Directors and connected persons
- a) The trustees neither received nor waived and emoluments during the year (2023: £NIL)
- b) There were no out of pocket expenses reimbursed to trustees during the year (2023: £NIL)
- c) During the year the spouse of a Trustee, has been paid by the Charity, a remuneration of £0 (2023: £3,460). The remuneration was in respect of her part-time employment in one of the shops. This engagement has been authorised by the Charity Commission and also approved by the membership.
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## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
## BAY SEARCH & RESCUE
I report on the accounts of the Trust for the year ended 30[th] November 2024 which are set out on pages 4 to 11.
## **Respective Responsibilities of Trustees and Examiner**
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts (under section 145 of the 2011 Act);
- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act): and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a view of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention; -
- (1) which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with Section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting Requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
A E LISHMAN ........................................................ DATE .............................................
Fellow Member of the Association of Accounting Technicians Jackson & Graham, Lynn Garth, Gillinggate, Kendal, Cumbria, LA9 4JB
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