Registered number 04168050
Tynemouth Volunteer Life Brigade
Report and Unaudited Accounts
31 March 2023
Tynemouth Volunteer Life Brigade Report and Accounts Contents
| Page | |
|---|---|
| Company information | 1 |
| Trustees' report | 2 |
| Chartered Accountants' report | 4 |
| Income and expenditure account | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 |
Tynemouth Volunteer Life Brigade Company Information
Trustees
Mr D V Bell Mr N Peters Mr A G Wallace Mr J D Wright Mr P E J Lilley Mr J Peters Mr A H Graham Mr D C Graham Mr L Harrison Mr S Littlewood Dr R Day Mr D Steven
Secretary
Mr P E J Lilley
Accountants
Bland & Wood Chartered Accountants 6B Planet Business Centre Planet Place Killingworth Newcastle upon Tyne NE12 6DY
Bankers
National Westminster Bank plc 18 Park View Whitley Bay Tyne & Wear NE26 2TQ
Registered office
The Watch House Spanish Battery Tynemouth Tyne & Wear NE30 4DD
Registered number 04168050
Page 1
Tynemouth Volunteer Life Brigade Trustees' Report
The trustees present their annual report and financial statements for the year ended 31 March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.
Objects of the charity, principal activities and organization of our work
Tynemouth Volunteer Life Brigade, founded in 1864, has three distinctive objects:
-
To save life and aid persons and vessels in distress on the coast and elsewhere and in the case of shipwreck by any means necessary including, but not limited to, the provision of a declared facility to Her Majesty's Coastguard.
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To conserve and develop the Watch House, associated properties and artefacts and to record, maintain and disseminate information on the history of the Brigade for the benefit and education of the community.
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To promote coastal safety and to educate children and other persons of the dangers inherent to the coast in order to safeguard the community.
The Brigade is most commonly associated with our coastal search and rescue team, which principally fulfil the aim of our 1st objective. The team specialise in rope, water, and coastal search and rescue, and also have extensive first aid skills. The team are permanently on call – attending an average of 120-130 incidents per year. The team are a ‘declared facility’ to Her Majesty’s Coastguard, representing them in the North Tyneside area.
As well as a rescue team of around 20, the Brigade has a Committee of Directors who manage the whole of the organisation. There is also a wider support structure of around another 20 members who support the operation and running of our Watch House Museum, and work with the Rescue Team to provide sea and water safety talks.
Development, activities and achievements this year
Across the 2022-2023 financial year, the Brigade had a very successful period during which a great deal of development and improvement took place.
Our Rescue Team has continued to thrive, with members completing external qualifications as trainers in rope and water rescue, as well as a group of six completing an advanced first aid qualification. The team was also inspected by HM Coastguard as part of the three-yearly accreditation process for Declared Facility Status, and received an excellent report.
In addition, we received the unexpected bonus of receiving full grant funding for a 2nd vehicle. While this has meant we have had to bring forward our plans for the 2nd vehicle, this has been a very welcome challenge to engage with.
Boosted by numerous successful fundraising activities, our Watch House Team have been able to complete the painting of the exterior of our cottage, and our new external display and alterations to the entrance of the museum are due for completion in mid spring.
Future Developments
Over the coming 12 months the Brigade intends to:
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Support the Rescue Team as it prepares to operate with a 2nd rescue vehicle for the first time in its history. This will include securing additional funding for the new equipment required to kit out the vehicle, and finding a secure and accessible base for the vehicle to be based in.
-
Review the condition of the interior of the Brigade Cottage and carry out repair, replacement and restoration work as appropriate and in line with the organisation’s financial capabilities.
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Start the planning and preparation work for celebrating the Brigade’s 160th anniversary in 2024.
Page 2
Tynemouth Volunteer Life Brigade Trustees' Report
Medium to long term targets:
The Directors of the Brigade commit to:
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Maintaining the financial security of the Brigade by having a minimum of £90,000, the equivalent of three year’s operating costs, held within our reserves.
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Continuing to maintain and manage our Watch House Museum in compliance with guidance from Arts Council England, and the maintenance schedule identified as part of our 2014 restoration, to ensure future restoration projects are kept to a manageable level.
Transactions and financial positions
The Statement of Financial Activities shows net income for the year of £62,977 for the year, and our reserves stand at £216,697. Our fundraising efforts were once again successful this year and we continue to apply for grants whenever possible. We are also most grateful for the donations we have received from supporters, some of which have been extremely generous. During this financial year we have been fortunate to have received grants from the following: R. W. Mann Trust, Tyne & Wear Archives & Museums, and North Tyneside Council. We have continued to receive regular support from The W. A. Handley Trust, who have supported us for many years along with Tynemouth Rotary Club. All monies received have enabled us to purchase necessary equipment and maintain our high standards of service.
Tangible Fixed assets for use by the charity
Details of movements in fixed assets are set out in note 10 to the accounts.
Investment policy and returns
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The current investments are returning the expected percentage.
Reserves
The present level of funding is adequate to support the continuation of the TVLB, but we are always looking for further sources of funding, as replacing and maintaining our rescue equipment is costly and the running costs for the museum are always escalating.
Directors and trustees
All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees named on page 1 served throughout the year. The Board has the power to appoint additional trustees, as it considers fit to do so.
Risk Management
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faces by the charity and confirm that they have established systems to mitigate the significant risks.
This report was approved by the board on 28 December 2023.
Mr P E J Lilley Trustee
Page 3
Tynemouth Volunteer Life Brigade Chartered Accountants' Report
Chartered Accountants' Report to the Board of Directors on the unaudited accounts of Tynemouth Volunteer Life Brigade
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tynemouth Volunteer Life Brigade for the year ended 31 March 2023 which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the trustees of Tynemouth Volunteer Life Brigade, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Tynemouth Volunteer Life Brigade and state those matters that we have agreed to state to the trustees of Tynemouth Volunteer Life Brigade, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tynemouth Volunteer Life Brigade and its trustees, as a body, for our work or for this report.
It is your duty to ensure that Tynemouth Volunteer Life Brigade has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Tynemouth Volunteer Life Brigade. You consider that Tynemouth Volunteer Life Brigade is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts of Tynemouth Volunteer Life Brigade. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the accounts.
Bland & Wood Chartered Accountants
6B Planet Business Centre Planet Place Killingworth Newcastle upon Tyne NE12 6DY
28 December 2023
Page 4
Tynemouth Volunteer Life Brigade Statement of Financial Activities for the year ended 31 March 2023
Summary income and expenditure account
| Notes Rescue Collection Vehicle Incoming resources £ Donations and gifts 2 1,679 - Operating activities to further objectives 3 2,878 - Operating activities to generate funds 4 - - Grants received 9,450 55,751 Interest income 5 - - Investment income 5 - - Other income - - Total income 14,007 55,751 Resources expended Cost of generating funds 6 Running costs - - Charitable expenditure 7 Management and administration 47,738 - 47,738 - Net income for the year (33,731) 55,751 Fund Restricted |
Unrestricted Fund £ 7,612 - 20,548 20,180 29 1,040 - 49,409 11,008 33,086 44,094 5,315 |
Total 2023 £ 9,291 2,878 20,548 85,381 29 1,040 - 119,167 11,008 80,824 91,832 27,335 |
2022 £ 11,034 2,105 14,513 34,470 8 847 - |
|---|---|---|---|
| 62,977 4,964 59,922 |
|||
| 64,886 | |||
| (1,909) |
Page 5
Tynemouth Volunteer Life Brigade Balance Sheet as at 31 March 2023
| Notes Fixed assets Tangible assets 9 Investments 10 Current assets Cash at bank and in hand Net current assets Net assets Funds: Unrestricted funds Restricted funds |
149,313 | 2023 £ 93,024 1,695 94,719 149,313 244,032 181,790 62,242 244,032 |
140,109 | 2022 £ 74,893 1,695 |
|---|---|---|---|---|
| 76,588 140,109 |
||||
| 216,697 | ||||
| 176,475 40,222 |
||||
| 216,697 |
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibility for complying with the requirements of the Companies Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
The company has opted not to file a copy of their income and expenditure account at Companies House in accordance with section 444 of the Companies Act 2006.
Mr P E J Lilley Trustee Approved by the board on 28 December 2023
Page 6
Tynemouth Volunteer Life Brigade Notes to the Accounts for the year ended 31 March 2023
1 Accounting policies
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value with the exception of investments which are included at market value. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment 20% straight line Motor vehicles 25% reducing balance
In addition to the above assets, the company has the use of a number of historic assets which, due to their age and unique nature, it is not practical to capitalise.
Investments
Investments are stated at market value at the balance sheet date.
| 2 Donations and legacies Coastguard Unrestricted Fund - Donations Collection Fund - Donations Unrestricted Fund - Grants Collection Fund - Grants Rescue Vehicle Fund - Grants Honorary members Covid Grants 3 Activities to further objectives Collection boxes |
2023 £ - 5,962 1,679 20,180 - 55,751 1,650 9,450 94,672 2023 £ 2,878 |
2022 £ 500 8,544 780 9,283 2,519 - 1,210 22,668 |
|---|---|---|
| 45,504 | ||
| 2022 £ 2,105 |
Page 7
Tynemouth Volunteer Life Brigade
Notes to the Accounts
for the year ended 31 March 2023
| 4 Activities for generating funds Annual supper Call out club Unrestricted Fund - Events Will Hogg Wedding 5 Investment income Interest receivable Investment income 6 Costs of generating funds Depreciation 7 Charitable expenditure Equipment Operating costs Repairs and maintenance Sundry Uniforms Support costs Grant expenditure Rescue training |
2023 £ 3,462 - 17,086 - 20,548 2023 £ 29 1,040 1,069 2023 £ 11,008 11,008 2023 £ 5,522 2,925 7,899 39,839 1,898 15,413 - 7,328 80,824 |
2022 £ 2,572 300 9,798 1,843 |
|---|---|---|
| 14,513 | ||
| 2022 £ 8 847 |
||
| 855 | ||
| 2022 £ 4,964 |
||
| 4,964 | ||
| 2022 £ 338 2,707 12,422 25,550 2,259 12,582 4,014 50 |
||
| 59,922 |
Page 8
Tynemouth Volunteer Life Brigade Notes to the Accounts
for the year ended 31 March 2023
| 8 Surplus for the year The surplus of income over expenditure is stated after charging: Depreciation 9 Tangible fixed assets Land and buildings Plant and machinery etc £ £ Cost and revaluation At 1 April 2022 60,000 8,843 Additions - - Surplus on revaluation - - Disposals - - At 31 March 2023 60,000 8,843 Depreciation At 1 April 2022 - 8,843 Charge for the year - - On disposals - - At 31 March 2023 - 8,843 Net book value At 31 March 2023 60,000 - At 31 March 2022 60,000 - 10 Investments Cost At 1 April 2022 At 31 March 2023 Other investments Listed investments Listed investments at market value |
2023 £ 11,008 11,008 Motor vehicles £ 53,553 29,139 - - 82,692 38,660 11,008 - 49,668 33,024 14,893 2023 £ 1,695 16,846 |
2022 £ 4,964 |
|---|---|---|
| 4,964 | ||
| Total £ 122,396 29,139 - - |
||
| 151,535 | ||
| 47,503 11,008 - |
||
| 58,511 | ||
| 93,024 | ||
| 74,893 | ||
| Other investments £ 1,695 |
||
| 1,695 | ||
| 2022 £ 1,695 |
||
| 20,059 |
Page 9
Tynemouth Volunteer Life Brigade Notes to the Accounts for the year ended 31 March 2023
11 Analysis of net assets between the funds
| Analysis of net assets between the funds | |||
|---|---|---|---|
| Tangible fixed assets Investments Net current assets |
Unrestricted Fund £ 93,024 1,695 87,071 181,790 |
Restricted Fund £ - - 62,242 62,242 |
Total £ 93,024 1,695 149,313 |
| 244,032 |
12 Statement of funds
| Statement of funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds Restricted funds |
At 1 April 2022 £ 176,475 40,222 216,697 |
Income £ 49,409 69,758 119,167 |
Expenditure £ 44,094 47,738 91,832 |
Revaluations £ - - - |
March 2023 £ 181,790 62,242 |
| 244,032 |
13 Company status
The Company is Limited by Guarantee without a share capital. It was incorporated on 26 February 2001 and took over the activities of the Charitable Trust operating under the same name on 21 November 2002.
14 Rocket House
The Company is the sole corporate trustee of the Rocket House. This came into place on 29 August 2019 when the Brigade, operating on charity number 1093237, (amalgamated with charity 2386655 on 13 January 2003), passed a written resolution at an extraordinary general meeting.
Page 10