Company registration number: 04852596 Charity registration number: 1100883
International Maritime Rescue Federation
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 December 2023
International Maritime Rescue Federation
Contents
| Trustees' Report | 1 to 11 |
|---|---|
| Statement of Trustees' Responsibilities | 12 |
| Independent Examiner's Report | 13 |
| Statement of Financial Activities | 14 to 15 |
| Balance Sheet | 16 |
| Statement of Cash Flows | 17 |
| Notes to the Financial Statements | 18 to 33 |
International Maritime Rescue Federation
Trustees' Report
Reference and Administrative Details
Chief Executive Officer
Mrs Caroline Jupe
Trustees
Mr Dean Lawrence (Chair - Resigned June 2023) Mr Jacob Tas (Chair - June 2023) Ms Eva Cecilia Sjöstedt (Vice-Chair - June 2023) Mr Jorge Diena Mekyska (Resigned June 2023) Captain Mohammed Drissi Mr Nicolaus Stadeler Mr Rongjun Zhang Ms Anna Classon Mr Clayton Evans (Elected June 2023) Mr Alex Barrell (Elected June 2023) Mr Jori Nordström (Elected June 2023)
Company Secretary
Mrs Caroline Jupe
Registered Office
West Quay Road Poole Dorset BH15 1HZ
Company Registration Number
4852596
Charity Registration Number
1100883
Bankers
HSBC Bank Plc 242 High Street North Longfleet Poole BH15 1DZ
Independent Examiner
PKF Francis Clark Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW
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International Maritime Rescue Federation
Trustees' Report
The Trustees, who are the directors for the purposes of company law, present their report and financial statements of the Charity for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives
The charity is governed under the provisions of its Articles of Association. The objects of the charity, as defined in Article 5, are:
“to prevent loss of life, to promote safety and to provide relief from disaster at sea and on inland waters throughout the world by, in particular (but not limited to):
• promoting co-operation, exchange of information, research and development, advice and consultancy between maritime search and rescue services of the world;
• encouraging and promoting the formation and development of maritime search and rescue services throughout the world; and
• promoting public education and awareness regarding safety on water.”
In 2023, the IMRF undertook a range of activities, outlined below, to further the charity’s purposes for the public benefit and in so doing the Trustees have had regard to the Charity Commission’s guidance on public benefit.
Activities, Achievements and Performance during 2023
In summary the IMRF achieved much in 2023 as it fulfilled its mission in developing SAR capability globally in 2023, highlights include:
• More than 500 personnel attended from 137 SAR organisations, non-governmental organisations, commercial organisations and start-ups. Over 43 countries were represented at the event, including those from Africa, Asia, Europe, North America and South America attended our World Maritime Rescue Congress in Rotterdam.
• The IMRF's #FutureSAR initiative, launched in 2023, identifies the key challenges the global maritime SAR industry will face as a result of climate change and proposes guidance and best practices that will aid rescue operations in the future. The initiative is the world’s first SAR industry-wide response to the effects of climate change on the maritime SAR sector as coastal communities, maritime activity and the infrastructure that they depend on are exposed to increasing risks.
• The IMRF also facilitated two in person Women in SAR Trainings in Kenya and Morocco. In total, 30 women from 24 countries across Africa attended these trainings.
• IMRF membership increased by 10%.
• We launched our online e-training academy, which currently offers a Basic Rescue Boat Operator Course as we further aid the global maritime SAR community in delivering vital SAR training.
You can read in more detail below about what we achieved and the impact we had on the development of maritime SAR globally across the whole SAR ecosystem.
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International Maritime Rescue Federation
Trustees' Report
IMRF: Addressing maritime SAR challenges through key activities:
1) IMRF: The international voice of maritime SAR
As the international voice of maritime SAR, the IMRF plays a significant role in the development of international maritime SAR regulation and policy, thereby improving safety at sea and maritime search and rescue preparedness.
Over the last year the IMRF continued to contribute to the work of the International Maritime Organization (IMO), by:
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Participating in meetings of the Sub-Committee on Safety of Navigation, Communications and Search and Rescue (NCSR) and the Technical Cooperation Committee (TCC);
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Participating in the annual meeting of the International Civil Aviation Organization (ICAO)/IMO Joint Working Group on SAR;
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Attended IMO Maritime Autonomous Surface Ships Joint Working Group, and the Maritime Safety Committee, to ensure that SAR issues are addressed;
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Attended and presented on IMRF Mass Rescue Operations and the work of the IMRF, at an IMO inter regional Africa SAR workshop in South Africa in November 2023;
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Working in collaboration with the IMO to further its SAR technical cooperation and development work, particularly in Africa; and
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Continuing to support the IMO’s Empowering Women in Maritime campaign, through the IMRF’s own #WomenInSAR initiative.
2) Global SAR development
The IMRF supports and facilitates global maritime search and rescue (SAR) development throughout the world. While all our activities help us achieve this mission, the ones below particularly focus on this.
Africa
The IMRF continues to work in collaboration with the IMO and others to develop maritime SAR resources and capability across Africa. In 2023 the IMRF continued to focus on running online SAR Training courses based on IAMSAR Vols. I-III including:
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An On Scene Co-Ordinator’s course, which involved 14 African countries.
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A SAR Administration and Management course, which involved 10 African countries.
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Two National SAR Training courses for SAR organisations in Congo and Guinea.
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Two GMDSS Training courses for SAR organisations in Benin and Madagascar.
To further enhance our online training options, we also launched our online e-training academy, which currently offers a Basic Rescue Boat Operator Course. In cooperation with the IMO’s Technical Cooperation Division (TCD), the IMRF also facilitated two in person Women in SAR Trainings in Kenya and Morocco. In total, 30 women from 24 countries across Africa attended these trainings.
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International Maritime Rescue Federation
Trustees' Report
The Asia-Pacific Region
The IMRF Asia-Pacific Regional Centre (APRC), based in Shanghai, China, was established to develop maritime SAR resources and capability specifically across the Asia-Pacific region, in 2023 the APRC:
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Worked with the Shanghai Municipal Transportation Commission and Donghai Rescue Bureau of MOT to organise the North Bund Forum 2023. This is an international professional platform for the exchange of views and insights, release of important policies and development of rules and regulations for the global shipping and aviation industries. IMRF CEO Caroline Jupe delivered a speech via video link at the Rescue and Salvage Session; and during the forum APRC organised a IMRF regional communications meeting.
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Helped organise the China Rescue and Salvage Conference and Exhibition 2023 in Wuhan China. IMRF Chair Dean Lawrence attended the conference and made a keynote speech at the Opening Session.
- The European Lifeboat Crew Exchange Cooperation, Collaboration and Knowledge Sharing
The IMRF’s European Lifeboat Crew Exchange took place in late September, the ninth time since its inception and the first one to take place in-person since the start of the Covid-19 pandemic.
The experience proved invaluable for participants across various countries and SAR operations, including the Finnish Lifeboat Institution (FLBI), the Royal Netherlands Sea Rescue Institution (KNRM), the UK and Ireland's Royal National Lifeboat Institution (RNLI), the Norwegian Society for Sea Rescue (RS), France’s Société Nationale de Sauvetage en Mer (SNSM) and the Swedish Sea Rescue Society (SSRS).
The exchange’s main focus was for participants to broaden their skills and knowledge in SAR operations by engaging with international peers. They enhanced their abilities, acquired new techniques, understood different operational structures, and brought back valuable insights to improve their local stations.
"This year’s Lifeboat Crew Exchange was an ideal experience for those looking to develop their understanding of and skills in SAR services, and meet and learn from colleagues in an intense, stimulative, international context", said Maria Montefusco from the SSRS.
3) Meetings & Conferences
Annual Meeting
After 3 years of running the European Regional Meeting online due to Covid-19 pandemic and opening it up to all members around the globe, 2023 marked our return to an in-person meeting. To keep the meeting, open to all members it was decided these meetings would now be called the Annual Meeting.
The theme of the IMRF’s Annual Meeting 2023 was ‘Acting Now to Prepare for the Future’. Held in early November in Horten, Norway, the agenda was packed with insightful discussions, updates on ongoing projects, and workshops focusing on critical aspects of search and rescue (SAR) operations. The meeting was attended by more than 50 members of the IMRF community from over a dozen countries around the world.
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International Maritime Rescue Federation
Trustees' Report
World Martine Rescue Congress (WMRC) 2023
The global search and rescue (SAR) community converged in Rotterdam in the Netherlands in mid-June for the IMRF’s World Maritime Rescue Congress (WMRC). This event is held every 4 years.
The three-day event, which was co-organised between the IMRF and KNRM, was the fifth WMRC to take place following successful events in Sweden in 2007, China in 2011, Germany in 2015, and Canada in 2019.This year’s WMRC was a true reflection of maritime SAR’s international nature and the IMRF’s membership. More than 500 personnel attended from 137 SAR organisations, non-governmental organisations, commercial organisations and start-ups. Over 43 countries were represented at the event, including those from Africa, Asia, Europe, North America and South America.
WMRC 2023 commenced on the first day with a live SAR demonstration organised by KNRM in the waters surrounding the SS Rotterdam that involved the Netherlands Coastguard, KNRM, and the Port of Rotterdam, as well as vessels from Belgium, Germany, Sweden, and the United Kingdom. The event also included a parade of vintage lifeboats from the KNRM and other European SAR organisations to demonstrate how lifeboats have developed over the past 100 years.
Days two and three consisted of informative and engaging panels discussing topics such as SAR incident planning, ESG strategy development, mental health, and technological developments in maritime SAR. Integrated into the conference was a Mass Rescue Operation (MRO) workshop and plenty of opportunities for delegates to network and share ideas and best practise within the global maritime SAR community.
Global Maritime SAR Forum (GMSF)
In late 2023 we launched the IMRF's Global Maritime SAR Forum (GMSF), to provide a platform between conferences and meetings as well as being an inclusive space for our global membership to share ideas, present and discuss current, new, or proposed technologies, processes, procedures, skills, techniques, training, lessons, and experiences with a view to sharing information to improve SAR.
The virtual meetings will be held monthly and are open to IMRF members only. The meetings will consist of a presentation followed by an open discussion. The presentation part of the meeting will be recorded and put on the members-only area of the IMRF website. The GMSF will take over from the Future Technology Panel (FTP) and will expand the excellent work done by the FTP.
4) Mass rescue operations (MRO) project
A Mass Rescue Operation (MRO) is defined by the IMO as “characterised by the need for immediate response to large numbers of persons in distress, such that the capabilities normally available to the SAR authorities are inadequate”. This long-term IMRF project seeks to improve preparedness among the maritime community for the successful management of such events.
As well as hosting an MRO workshop as part of WMRC 2023, IMRF has also continued to update the open-source MRO on-line resource library (https://www.international-maritime-rescue.org/mro-home), which is offered gratis to the whole global SAR community.
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International Maritime Rescue Federation
Trustees' Report
5) IMRF Awards 2023
In 2023, the IMRF Awards were once again held online, with the People’s Choice Winner announced at the Annual Meeting. The IMRF Awards acknowledge those that have shown excellence in their field, developed innovative technology and equipment, or acted as a role model to inspire others. The awards also shine a light on those colleagues who offer the tireless support, training, and planning that enables SAR crews to do what they do, safe in the knowledge that they are all part of the same team. As always, we received many nominations from all over the world and the international Judging Panel had a difficult task selecting the eventual winners. The overwhelming winner of the People’s Choice Award 2023 was Anders Bagge (post.) from SSRS.
6) #WomenInSAR
In 2023, the IMRF continued to work towards improving the representation of women in the maritime SAR sector. A highlight in 2023 of this initiative was our two #WomenInSAR training events in Africa. These enabled women from maritime SAR organisations across Africa to come together and take steps towards greater inclusivity and understand the necessity and benefits of diversity in maritime, including how to make the maritime SAR sector a better place for women to volunteer or work. Delegates also learned from and experienced how other countries and SAR organisations are increasing the representation of women. Empowered with information, they could return to their organisations to implement learnings and best practices. In total, 30 women from 24 countries across Africa attended these trainings.
7) #SARyouOK?
In 2023, a key focus of the IMRF was its #SARyouOK? initiative to increase awareness and further break down the stigma that is attached to mental health and wellbeing issues faced by those working in the maritime SAR sector. Throughout the year we interviewed members of the maritime SAR community who have wanted to share their own personal stories and experiences about the impact of mental health in their work and lives. We hosted two online workshops and two in person workshops for the IMRF and wider maritime SAR community on the impacts of mental health in maritime SAR. These also provided an opportunity for organisations to share best practises.
8) #SaferSAR
The #SaferSAR initiative began in September 2023, and starts with a 12-month feasibility study for a globally accessible platform that SAR personnel and organisations can use to share lessons and best practices identified in SAR response, incidents, accidents, and exercises. The objective of the initiative is to improve safety at sea by fostering collaboration and knowledge-sharing among SAR professionals worldwide. The initiative is funded by Lloyd's Register Foundation.
Sharing lessons is one of the IMRF’s key purposes so this project is at heart of our functions as an organisation. With the pilot project we aim to establish the nature of sharing culture within the maritime SAR community, the key barriers and potential value of sharing information, and the potential design options of a global information sharing system.
9) #FutureSAR
The IMRF's #FutureSAR initiative, launched in 2023, identifies the key challenges the global maritime SAR industry will face as a result of climate change and proposes guidance and best practices that will aid rescue operations in the future. The initiative is the world’s first SAR industry-wide response to the effects of climate change on the maritime SAR sector as coastal communities, maritime activity and the infrastructure that they depend on are exposed to increasing risks.
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International Maritime Rescue Federation
Trustees' Report
FutureSAR looks at how SAR services may be able to deal with climate change-related challenges, including new rescue scenarios such as storm surges, implementing new technologies such as alternative fuels, and protecting infrastructure such as lifeboat facilities. The initiative also considers some ways the global maritime SAR community can contribute to the wider shipping industry’s drive to decarbonise and achieve net zero.
10) Search & rescue and migration
The movement of asylum-seekers and economic migrants (‘mixed-migration’) across large areas of sea, usually in wholly inadequate craft with consequent loss of life, continues in several parts of the world.
As a general principle, the IMRF continues to advocate action at the international level to address this ongoing situation and to defend the fundamental principles of maritime search and rescue, as well as the humanitarian principle of non-refoulement implicit in the SAR principle of delivery of anyone in distress to a ‘place of safety’.
11) Communications
In 2023, we revised our communications strategy. Our communication focus is on social media and IMRF’s newsletters: IMRF Weekly, a weekly newsletter for members, and IMRF Monthly, a monthly newsletter for non-members.
We have also reviewed the content published across all our platforms and how we communicate our work. As a result, we are now focusing more on interviews from the global SAR community, write-ups from IMO meetings we attend, the introduction of a SAR Matters column, and detailed write-ups of IMRF activities.
Part of our review involved assessing our preferred mediums, and like most organisations, we have shifted towards creating more video content.
During 2023, the IMRF increased its social media following across all platforms, particularly gaining a 25% increase in followers on LinkedIn.
Facebook followers 5,488 (2022) 5,821 (2023) Twitter followers 913 (2022) 1,028 (2023) Linkedin followers 1,472 (2022) 2,076 (2023)
Throughout 2023, the IMRF hosted several webinars, each attended by 65 to 85 delegates. These webinars covered a variety of topics, including the Forward Look 2023, two #SARyouOK? Workshops and a session for London International Shipping Week titled "The impact of the IMO-ICAO JWG on crucial maritime safety operations.
Financial performance in 2023
In 2023 the IMRF continued to fulfil its obligations to improve global maritime search and rescue and to improve it’s service both to members and to the wider maritime SAR community as well as fulfilling it’s mission developing maritime SAR globally.
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International Maritime Rescue Federation
Trustees' Report
Income and Project Funding
All expected restricted donations and grants were received as planned. We received grants for #FutureSAR and #SaferSAR initiatives. A key focus of the IMRF was our #SARyouOK? Initiative. Throughout the year we interviewed members of the maritime SAR community who have wanted to share their own personal stories and experiences about the impact of mental health in their work and lives. We hosted two online workshops and two in person workshops for the IMRF and wider maritime SAR community on the impacts of mental health in maritime SAR. These also provided an opportunity for organisations to share best practices on this important topic.
Membership
As usual, in 2023, a main source of unrestricted income for the IMRF was from membership subscriptions. Membership numbers grew by 10% in 2023. As of 31 December 2023, IMRF had a total of 127 paid up member organisations from over 50 countries around the globe.
In 2023 with travel now returning to normal after the Covid-19 pandemic years, the IMRF formally moved to a hybrid delivery model offering both online workshops and webinars alongside in-person meetings, training and conferences. This model allows for interactive learning opportunities for our members between physical events as well the opportunity for members irrespective of where they are in the globe to come together to learn and share experiences.
The IMRF also launched a new membership communication strategy to its members. In the Spring of 2024, we launched IMRF Weekly which is sent every week to IMRF members and contains the latest global maritime SAR community news. We also reviewed and redefined our social media postings across our social media channels.
The IMRF Bookshop
As a result of the ongoing impact of the IMO changed policy on shipment of hard copies of books and the impact of Brexit on customs arrangements, the IMRF online Bookshop closed in January.
Salary Costs
As in most organisations, one of the biggest regular monthly expenses is staff salaries. Salary costs were reduced in 2023 due to 1 member of staff leaving. The planned restructure of the IMRF Secretariat occurred in 2023, and this resulted in the IMRF employing 2 full time members of staff, and the greater planned use of specialist resource engaged on a flexible basis.
Budget
Once again, the budget for 2023 was based on stringent assumptions about predicted income and expenditure. The Finance and Resources Sub-Committee continued to monitor performance against budget on a monthly basis, reporting to all Trustees at their regular Board meetings. The Trustees were satisfied that the assumptions underlying the budget were robust to cope with any potential risks posed.
Income 2023
In 2023, total (Restricted and Unrestricted) Income was £389k (2022: £506k), (23%) less than in 2022. However unrestricted income was 10% more than in 2022.
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International Maritime Rescue Federation
Trustees' Report
Unrestricted Income
Income from membership subscriptions remained broadly in line with 2022 at £145k) (2022: £144k). However, additional member donations increased 2023 to £119k (2022: £80k) as a result of the IMRF’s Centenary Membership Appeal. Annual Centenary donations are pledged for a five year period so these additional donations are expected to be received until 2027.
In contrast, 2022 conference income of £70k (2023: nil) did not recur in 2023. In addition, income from book sales reduced to £500 (2022: £3k) as a result of the closure of the IMRF Bookshop.
Restricted Income
In 2023, Restricted Income was £31k (£2022: 183k) (83% less than in 2022), largely because the IMRF received a one off grant from the Dutch grant government in 2022, of £62k for scholarship places for WMRC. The IMRF received a 40k grant in 2022, from the RNLI, which was restricted. In 2023 the IMRF received 10k from the RNLI, which was unrestricted income.
Expenditure 2023
Expenditure was overall £96k higher in 2023 than in 2022, increasing from £310k to £406k. Secretariat staffing, consultancy and contractor costs represents the most significant category of expenditure, and has increased overall but with a greater weighting towards consultancy and contractor costs in 2023 compared to 2022 (2023: £119k salary costs, £106k consultancy and contractor costs; 2022: £114k salary costs, £52k consultancy and contractor costs). This reflects the planned restructure of the Secretariat resources and staffing and the greater planned use of specialist resource engaged on a flexible basis.
Travel and subsistence costs also increased to £16k in 2023 (2022: £7k), reflecting increasing travel following the end of the Covid-19 pandemic restrictions. Foreign currency exchange movements also increased to £7k (2022: £2k) as a result of movements in the GBP:EUR exchange rate.
Net Income 2023
Taking all the above into account, net income of restricted and unrestricted combined in year showed a deficit of £(17)k, (2022:surplus 196k), this was due to timing difference in restricted funds received of £62k in December 2022 which were spent in January 2023. This was a grant for scholarship places for WMRC. The unrestricted surplus in the year was £48k. Total funds carried forward equalled £354k (£270k unrestricted and £84k restricted).
Reserves
As a result of the continued controls on expenditure, a robust approach to debtor management and member donations, IMRF has ended 2023 with a positive unrestricted balance of about £270k.
Going forward, the Trustees have agreed another stringent budget for 2024 and will continue to monitor financial performance closely. They are confident that there is sufficient funding in place for all the planned future activity and have taken decisive steps to maintain tight management controls and to further improve the IMRF’s financial stability.
The Trustees remain committed to growing and retaining members by improving member services, in order to consolidate the charity’s current positive financial position.
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International Maritime Rescue Federation
Trustees' Report
Structure, Governance and Management
The Directors, who are also the Trustees, have overall responsibility for the good governance of the charity. The Trustees are elected for a four-year period of office by the member organisations at the Quadrennial General Meeting (QGM), which usually takes place in conjunction with the World Maritime Rescue Congress. The most recent QGM was held in June 2023 in Rotterdam, Netherlands. The day-to-day administration and management of the organisation is undertaken by the Chief Executive Officer (CEO), supported by the staff of the small permanent Secretariat. With a new Board in office, the IMRF has also decided to conduct a governance review and in 2023 was also reviewed by the Charity Commission who confirmed that everything was in order.
4-year Strategy
The IMRF usually operates on a quadrennial strategy planning cycle, which aligns with the four-year term of office of the Board of Trustees. The quadrennial strategy identifies the charitable aims which the organisation seeks to achieve over the period of the plan and these in turn drive the acquisition of the necessary funding and resources. To maintain developmental continuity and to ensure on-going sustainability, the incoming Board of Trustees approves its strategy based on a draft plan prepared by the CEO and Secretariat, in consultation with the outgoing Board of Trustees. The current four-year plan is due to run until 2025. The new Board took office in mid-2023 and it is therefore a priority in 2024 in start preparing for the 2025 planning cycle.
Monitoring Progress
Progress against the Business Plan is reported to the Trustees and reviewed at meetings of the Board. Member organisations and donors receive regular updates on project progress through regular newsletters, social media updates and at in person meetings. The IMRF also has annual Forward Look webinar in January, open to all, which is focused on what the IMRFs’ plans are for the year ahead and what the IMRF achieved in the previous year.
Funding the operations of the Charity
The charity is primarily supported by membership subscriptions and financial donations from its member organisations, supplemented by external charitable donations. A scaled set of annual membership subscriptions is in place and is kept under review by the Board. The last increase in subscription rates (5%) was on 1 January 2019.
In 2023, several member organisations generously made additional financial contributions in excess of their membership subscriptions, mainly under the IMRF centenary appeal.
Some member organisations also provide in-kind support or resources, to underwrite the cost of IMRF events, or to facilitate the operation or implement the objectives of the charity. For example, in 2023 KNRM supported WMRC through its’ hosting in Rotterdam, Netherlands, and the Norwegian Society for Sea Rescue (RS) hosted the IMRF Annual Meeting. The China Rescue and Salvage Bureau (CRS) continued to support the staff and running costs of the Asia-Pacific Regional Centre (APRC) in Shanghai.
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International Maritime Rescue Federation
Trustees' Report
Fundraising
Though the member organisations provide the majority of the IMRF’s core funding through their membership subscriptions and additional contributions, additional funds are required to allow the IMRF to fully implement its goals. The CEO is responsible for raising these additional funds and, in 2023, we received funding from the Lloyd’s Register Foundation for both our #FutureSAR and #SaferSAR initiatives. We also received funding via the International Maritime Organization (IMO) to deliver online training in Africa and run 2 #WomenInSAR courses, as well as receiving sponsorship for the virtual IMRF Awards from a number of corporate supporters.
Looking ahead, the IMRF will need to continue to grow its pool of potential supporters and continue to ensure that its projects remain attractive to funders. One of the key challenges remains raising unrestricted funds. The work of the IMRF is currently still not well-known outside of the maritime SAR sector (although the position is improving) and, consequently, it still has a relatively small donor base. However, the Trustees remain keen to explore new avenues, and plans for this will be developed in 2024.
Reserves policy
The IMRF’s Financial Reserves are a ring-fenced amount of money that are held to cover essential costs, in the event that the charity has to be closed down. Best practice for an organisation of the size of the IMRF is to hold reserves sufficient to cover between 6 - 8 months of operating costs. This is reported on every year in the Annual Trustees Report that accompanies the Annual Financial Statement and Accounts.
The determination of the need for financial reserves and their amount will be made by the Board in alignment with the IMRF's strategic goals.
All proposals for establishing or modifying financial reserves must be submitted to the Finance Committee for review and recommendation before being presented to the Board for approval.
The Board will consider factors such as economic conditions, potential risks, and the strategic objectives of the IMRF when approving financial reserves.
The Reserves cannot be spent without the express agreement of the Board of Trustees.
Risk assessment
The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to its operations, financial management and good governance, including risks to reputation. They are satisfied that sufficient policies and control measures are in place to manage exposure to any such risks. The monitoring of financial and other risks is one of the responsibilities of the Finance and Resources Sub-Committee and wider Trustees at Board Meetings.
The annual report was approved by the trustees of the charity on 10 June 2024 and signed on its behalf by:
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Mr Jacob Tas (Chair from June 2023) Trustee
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International Maritime Rescue Federation
Statement of Trustees' Responsibilities
The trustees (who are also the directors of International Maritime Rescue Federation for the purposes of 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 10 June 2024 and signed on its behalf by:
......................................... Mr Jacob Tas (Chair from June 2023) Trustee
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International Maritime Rescue Federation
Independent Examiner's Report to the trustees of International Maritime Rescue Federation
I report on the accounts of the charity for the year ended 31 December 2023 which are set out on pages 14 to 33 .
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Adrian Way FCA (a Director of) PFK Francis Clark Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW
15 July 2024
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International Maritime Rescue Federation
Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 4 Total income Expenditure on: Raising funds Charitable activities 5 Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted funds £ 357,243 395 613 358,251 (7,904) (304,945) (312,849) 45,402 45,402 226,020 271,422 |
Restricted funds £ 30,569 - - 30,569 - (92,848) (92,848) (62,279) (62,279) 144,959 82,680 |
Total 2023 £ 387,812 395 613 |
|---|---|---|---|
| 388,820 | |||
| (7,904) (397,793) |
|||
| (405,697) | |||
| (16,877) | |||
| (16,877) 370,979 |
|||
| 354,102 |
The notes on pages 18 to 33 form an integral part of these financial statements. Page 14
International Maritime Rescue Federation
Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Investment income 4 Total income Expenditure on: Raising funds Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted funds £ 316,172 7,097 24 323,293 (3,421) (210,282) (213,703) 109,590 109,590 116,430 226,020 |
Restricted funds £ 182,758 - - 182,758 - (96,100) (96,100) 86,658 86,658 58,301 144,959 |
Total 2022 £ 498,930 7,097 24 |
|---|---|---|---|
| 506,051 | |||
| (3,421) (306,382) |
|||
| (309,803) | |||
| 196,248 | |||
| 196,248 174,731 |
|||
| 370,979 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 14.
The notes on pages 18 to 33 form an integral part of these financial statements. Page 15
International Maritime Rescue Federation
(Registration number: 04852596) Balance Sheet as at 31 December 2023
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2023 £ 809 21,368 398,050 419,418 (66,125) 353,293 354,102 82,680 271,422 354,102 |
2022 £ 661 17,294 411,521 |
|---|---|---|
| 428,815 (58,497) |
||
| 370,318 | ||
| 370,979 | ||
| 144,959 226,020 |
||
| 370,979 |
For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 14 to 33 were approved by the trustees, and authorised for issue on 10 June 2024 and signed on their behalf by:
.........................................
Mr Jacob Tas (Chair from June 2023) Trustee
The notes on pages 18 to 33 form an integral part of these financial statements. Page 16
International Maritime Rescue Federation
Statement of Cash Flows for the Year Ended 31 December 2023
| Note Cash flows from operating activities Net cash (expenditure)/income Adjustments to cash flows from non-cash items Depreciation Investment income 4 Working capital adjustments (Increase)/decrease in debtors 11 (Decrease)/increase in creditors 12 Increase/(decrease) in deferred income Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 4 Purchase of tangible fixed assets 10 Net cash flows from investing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December |
2023 £ (16,877) 518 (613) (16,972) (4,074) (7,526) 15,154 (13,418) 613 (666) (53) (13,471) 411,521 398,050 |
2022 £ 196,248 494 (24) |
|---|---|---|
| 196,718 5,751 19,893 (59,318) |
||
| 163,044 | ||
| 24 - |
||
| 24 | ||
| 163,068 248,453 |
||
| 411,521 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 18 to 33 form an integral part of these financial statements. Page 17
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
International Maritime Rescue Federation is a registered charity, registration number 1100883, company number 04852596, registered in the United Kingdom. The address of the charity is given in the reference and administrative details on page 1 of these financial statements. The nature of the charity’s operations and principal activities are described in the Trustees annual report.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in Pound sterling which is the functional currency of the charity and rounded to the nearest £.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
Voluntary income (including donations, gifts, legacies and grants that provide core funding or are of a general nature) is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and membership income
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Membership income is accounted for on an accruals basis and included in the financial year to which it relates.
Page 18
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
Government grants
Government grants are recognised based on the accrual model. Grants relating to revenue are recognised in income over the period in which the related costs are recognised.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 19
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Computer equipment 33% straight line basis Office equipment 15% straight line basis Database 33% straight line basis
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 20
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
Pensions and other post retirement obligations
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2 Income from donations and legacies
| Donations and legacies; Donations received Member income |
Unrestricted funds £ 125,711 231,532 357,243 |
Restricted funds £ 15,100 15,469 30,569 |
Total 2023 £ 140,811 247,001 387,812 |
Total 2022 £ 160,378 338,552 |
|---|---|---|---|---|
| 498,930 |
3 Income from charitable activities
| Sales of purchased goods 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 395 Unrestricted funds General £ 613 |
Total 2023 £ 395 Total 2023 £ 613 |
Total 2022 £ 7,097 |
|---|---|---|---|
| Total 2022 £ 24 |
Page 21
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
5 Expenditure on charitable activities
| Cost of goods sold Employment costs Establishment costs Computer expenses Travelling and meeting costs Recruitment Printing, postage and stationery Membership support Foreign currency (gain) / loss Depreciation of tangible fixed assets Staff development Office expenses Sundry and other costs Bad debts written off Legal, professional and consultancy costs Governance and support costs (see below) Bank charges 6 Analysis of governance and support costs |
Total 2023 £ 597 119,081 3,732 7,170 14,878 199 2,817 131,663 68 518 49 4,962 2,593 2,185 100,970 4,263 2,048 397,793 |
Total 2022 £ 4,491 144,106 2,957 6,808 6,958 - 599 75,878 1,099 494 1,950 2,119 148 - 53,828 3,700 1,247 |
|---|---|---|
| 306,382 | ||
| Independent Examiner’s remuneration | Total 2023 £ 4,263 4,263 |
Total 2022 £ 3,700 |
|---|---|---|
| 3,700 |
Page 22
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
7 Net incoming/outgoing resources
Net (outgoing)/incoming resources for the year include:
| Depreciation of fixed assets Foreign currency losses Independent examiners fee |
2023 £ 518 68 4,263 |
2022 £ 494 1,099 3,700 |
|---|---|---|
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Mr Dean Lawrence, Chair (resigned June 2023)
£138 (2022: £71) of expenses were reimbursed to Mr Dean Lawrence, Chair (resigned June 2023) during the year.
Mr Jorge Diena Mekyska (resigned June 2023)
£1,418 (2022: £3,145) of expenses were reimbursed to Mr Jorge Diena Mekyska (resigned June 2023) during the year.
Mr Mohammed Drissi
Mr Mohammed Drissi received payment for the provision of training services of £5,138 (2022: £4,895) during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
Page 23
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
9 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2023 £ 111,186 6,337 1,546 119,069 |
2022 £ 131,512 9,646 2,948 |
| 144,106 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| 2023 | 2022 | ||
|---|---|---|---|
| No | No | ||
| Charitable | activities | 2 | 3 |
The number of employees whose emoluments fell within the following bands was:
| £60,001 - £70,000 £70,001 - £80,000 |
2023 No - 1 |
2022 No 1 - |
|---|---|---|
The total employee benefits of the key management personnel of the charity were £77,671 (2022 - £61,198).
Page 24
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
10 Tangible fixed assets
| Cost At 1 January 2023 Additions Disposals At 31 December 2023 Depreciation At 1 January 2023 Charge for the year Eliminated on disposals At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 11 Debtors Trade debtors Prepayments VAT recoverable |
Computer equipment £ 6,169 666 - 6,835 5,508 518 - 6,026 809 661 |
Computer equipment £ 6,169 666 - 6,835 5,508 518 - 6,026 809 661 |
Office equipment and database £ 13,910 - (13,910) - 13,910 - (13,910) - - - 2023 £ 7,376 9,726 4,266 21,368 |
Office equipment and database £ 13,910 - (13,910) - 13,910 - (13,910) - - - 2023 £ 7,376 9,726 4,266 21,368 |
Total £ 20,079 666 (13,910) 6,835 19,418 518 (13,910) 6,026 809 661 2022 £ 7,311 8,565 1,418 |
|---|---|---|---|---|---|
| 6,835 | |||||
| 5,508 518 - |
|||||
| 6,026 | - | ||||
| 809 | - | ||||
| 661 | - | ||||
| 2023 £ 7,376 9,726 4,266 21,368 |
|||||
| 17,294 |
12 Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Accruals Deferred income |
2023 £ 12,535 3,737 10,325 39,528 66,125 |
2022 £ 17,410 3,463 13,250 24,374 |
|---|---|---|
| 58,497 |
Page 25
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,546 (2022 - £2,948). Contributions totalling £Nil (2022: £Nil) were payable to the scheme at the end of the year and are included in creditors.
Page 26
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
14 Funds
| Unrestricted funds General Unrestricted Restricted funds Ministry of Infrastructure & Water, grant for WMRC 2023 Crew Exchange programme Donations from CRS for APRC expenses Internation e-learning web platform Africa Training 2019 Africa survey for IMO UK P&I for SME2 and MRO Library Trinity House SARyouOk Future SAR Safer SAR Total restricted funds Total funds |
Balance at 1 January 2023 £ 226,020 61,903 1,294 41,452 1,819 17,155 5,068 1,236 15,032 - - 144,959 370,979 |
Incoming resources £ 358,251 3,821 - 10,277 1,771 - - - - 10,000 4,700 30,569 388,820 |
Resources expended £ (312,849) (61,903) - (8,858) (2,074) - (689) - (11,102) (5,867) (2,355) (92,848) (405,697) |
Balance at 31 December 2023 £ 271,422 3,821 1,294 42,871 1,516 17,155 4,379 1,236 3,930 4,133 2,345 |
|---|---|---|---|---|
| 82,680 | ||||
| 354,102 |
Page 27
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
| Unrestricted funds General Unrestricted Restricted Ministry of Infrastructure & Water, grant for WMRC 2023 Crew Exchange programme Donations from CRS for APRC expenses Internation e-learning web platform Africa Training 2019 Africa survey for IMO UK P&I for SME2 and MRO Library RNLI Fundraising Trinity House SARyouOk IMRF Search and Rescue (SAR) Pandemic Preparedness Project Total restricted funds Total funds |
Balance at 1 January 2022 £ 116,430 - 1,294 30,548 - 17,155 5,068 1,236 - - 3,000 58,301 174,731 |
Incoming resources £ 323,293 61,903 - 10,904 49,951 - - - 40,000 20,000 - 182,758 506,051 |
Resources expended £ (213,703) - - - (48,132) - - - (40,000) (4,968) (3,000) (96,100) (309,803) |
Balance at 31 December 2022 £ 226,020 61,903 1,294 41,452 1,819 17,155 5,068 1,236 - 15,032 - |
|---|---|---|---|---|
| 144,959 | ||||
| 370,979 |
Page 28
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
The specific purposes for which the funds are to be applied are as follows:
Crew Exchange programme
Funding specifically for the Crew Exchange Programme.
RNLI Fundraising Fund
Donation from RNLI for fundraising activities to help to improve the diversity of funding.
Donation from CRS for APRC expenses
Donation from CRS to cover travel costs relating to APRC activities It is very difficult to transfer funds out of China and this fund was created to help alleviate those difficulties.
Africia Training 2019
Funding provided by a Foundation, to assist with the implementation of the IMO Global SAR Development Plan in Africa.
Africia Survey for IMO
Funding by the IMO for a survey on the status of SAR in Africa as part of the IMO Global SAR Development Plan.
UK P&I for SME2 and MRO Library
Funding from the UK P&I Club for the further development of the IMRF Mass Rescue Operations course and to provide financial assistance for two attendees in need of support to participate in the second mass rescue operations subject matter expert course.
IMRF Search and Rescue (SAR) Pandemic Prepardness Project
Funding provided by Lloyd’s Register Foundation for the production and promotion of pandemic preparedness guidance for SAR organisations.
SARyouOk
Maritime SAR mental health and wellbeing initiative.
International e-learning web platform online SAR training academy.
Future SAR
Maritime SAR climate transition project.
Safer SAR
Feasibility study around the sharing culture in maritime SAR.
Page 29
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
15 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 809 336,738 (66,125) 271,422 Unrestricted funds General £ 661 283,856 (58,497) 226,020 |
Restricted funds £ - 82,680 - 82,680 Restricted funds £ - 144,959 - 144,959 |
Total funds at 31 December 2023 £ 809 419,418 (66,125) |
|---|---|---|---|
| 354,102 | |||
| Total funds at 31 December 2022 £ 661 428,815 (58,497) |
|||
| 370,979 |
16 Related party transactions
During the year, the Charity made the following related party transactions:
IMRF Asia Pacific Centre (APRC)
IMRF Asia Pacific Centre (APRC) is a related entity as the IMRF Board appoints three of the five directors. Two of the IMRF Trustees were Board Members of the APRC, one of the IMRF Trustees was a Board Member of the APRC throughout 2023, one Trustee resigned 23.06.23.
During the year there were no payments or refunds (20232: £Nil refunded) from China Rescue and Salvage Bureau to the APRC. The balance due from APRC at the year-end was £Nil (2022: £Nil).
Page 30
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
Member Organisations
Much of the charitable functions in pursuit of the charity's objectives have been carried out using funding, facilities and resources received, on a pro bono basis, from IMRF member organisations:
China Rescue and Salvage Bureau (CRS) German Maritime Search and Rescue Service (DGzRS) Finnish Lifeboat Institution (FLIB) Ocean Fisheries Department, Royal Kingdom of Morocco Royal National Lifeboat Institution (RNLI) Swedish Sea Rescue Society (SSRS) Norwegian Society For Sea Rescue (RS) Royal Netherlands Sea Rescue Institution (KNRM)
IMRF Trustee Relationships
China Rescue and Salvage Bureau (CRS)
China Rescue and Salvage Bureau is related as one of the Trustees is an employee of this entity.
CRS paid a membership fee of £3,700 (2022: £3,700). They also made an additional financial donation of £30,475 (2022: £32,712 ) to IMRF. At the Balance Sheet date the amount due from China Rescue and Salvage Bureau was £Nil (2022: £Nil).
German Maritime Search and Rescue Service (DGzRS)
German Maritime Search and Rescue Service (DGzRS) is related as one of the IMRF Trustees is also the Finance Director of this entity.
DGzRS paid a membership fee of £3,700 (2022: £3,700) and made donations of £42,769 (2022: £18,041) to IMRF. At the Balance Sheet date, the amount due from German Maritime Search and Rescue Service (DGzRS) was £Nil (2022: £Nil).
Ministry of Agriculture and Ocean Fisheries, Morocco
Ministry of Agriculture and Ocean Fisheries, Morocco is related as one of the IMRF Trustees is also an employee of this entity.
Ministry of Agriculture and Ocean Fisheries, Morocco paid a membership fee of £1,700 (2022: £1,700) during the year. The Ministry also facilitated one in person training course at their premises in Rabat. At the Balance Sheet date, the amount due from Ministry of Agriculture and Ocean Fisheries, Morocco was £Nil (2022 - £Nil).
Royal National Lifeboat Institution (RNLI)
Royal National Lifeboat Institution (RNLI) is related as one of the IMRF trustees is also an employee of this entity.
RNLI paid a membership fee of £3,700 (2022: £3,700) and made donations of £10,000 (2022: £40,000) to IMRF during the year. RNLI allows the IMRF to use their headquarters in Poole as a registered office. At the Balance Sheet date, the amount due from Royal National Lifeboat Institution (RNLI) was £Nil (2022 - £Nil).
Page 31
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
The Royal New Zealand Coastguard Inc. (CNZ)
The Royal New Zealand Coastguard Inc. is related as one of the IMRF Trustees is also a Board Member of this entity until they resigned from the IMRF in June 2023.
CNZ paid a membership fee of £3,700 (2022:£3,700). At the Balance Sheet date, the amount due from The Royal New Zealand Coastguard Inc. (CNZ) was £Nil (2022 - £Nil).
Swedish Sea Rescue Society (SSRS)
Swedish Sea Rescue Society (SSRS) is related as one of the IMRF Trustees is also the CEO of this entity.
SSRS paid a membership fee of £3,700 (2022: £3,700) and made donations of £42,769 (2022: £nil) to IMRF during the year At the Balance Sheet date, the amount due from Swedish Sea Rescue Society (SSRS) was £Nil (2022 - £Nil).
Honorary Maritime Lifeboat Association (ADES)
Honorary Maritime Lifeboat Association (ADES) is related, as one of the IMRF Trustees was also the President of this entity until they resigned from the IMRF in June 2023.
Honorary Maritime Lifeboat Association (ADES) paid a membership fee of £370 (2022: £370). At the Balance Sheet date, the amount due from the Honorary Maritime Lifeboat Association (ADES) was £Nil (2022 £Nil).
The Royal Netherlands Sea Rescue Institution (KNRM)
The Royal Netherlands Sea Rescue Institution (KNRM) is related, as one of the Trustees is also the CEO of this entity.
KNRM paid a membership fee of £3,700 (2022: £3,700). KNRM hosted WMRC 2023. At the Balance Sheet date, the amount due from the Royal Netherlands Sea Rescue Institution (KNRM) was £Nil (2022: £Nil).
Canadian Coast Guard (CCG)
Canadian Coast Guard is related as one of the Trustees is a contractor for this entity.
Canadian Coast Guard paid a membership fee of £3,700 (2022: £3,700). At the Balance Sheet date the amount due from Finnish Lifeboat Institution was £Nil (2022: £Nil).
Finnish Lifeboat Institution (FLIB)
Finnish Lifeboat Institution is related as one of the Trustees is an employee of this entity.
FLIB paid a membership fee of £3,700 (2022: £3,700). At the Balance Sheet date the amount due from Finnish Lifeboat Institution was £Nil (2022: £Nil).
Marine Rescue New South Wales
Marine Rescue New South Wales is related as one of the Trustees is an employee of this entity.
Page 32
International Maritime Rescue Federation
Notes to the Financial Statements for the Year Ended 31 December 2023
Marine Rescue New South Wales paid a membership fee of £3,700 (2022: £3,700). At the Balance Sheet date the amount due from Marine Rescue New South Wales was £Nil (2022: £Nil).
Netherlands Coast Guard
The Netherlands Coast Guard is related as one of the IMRF Trustees is also a Board Member of this entity.
Netherlands Coast Guard paid a membership fee of £3,700 (2022: £3,700). At the Balance Sheet date, the amount due from the Netherlands Coastguard was £Nil (2022: £Nil).
Page 33