REGISTERED COMPANY NUMBER: 05711803 (England and Wales) REGISTERED CHARITY NUMBER: 1113807
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 24 July 2021
for
Maryport Inshore Rescue Boat
Cumbria CVS Shaddongate Resource Centre Carlisle Cumbria CA2 5TY
Maryport Inshore Rescue Boat
Contents of the Financial Statements for the Year Ended 24 July 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Maryport Inshore Rescue Boat
Report of the Trustees for the Year Ended 24 July 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 24 July 2021. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity was constituted on 16th February 2006 as a company limited by guarantee, and is therefore governed by a memorandum and articles of association. The company registered as a charity on 19th April 2006.
The charity's object and its principal activity continue to be that of the operation, for the public benefit, the preservation and saving of life at sea or on the foreshore by the acquisition, fitting out, and maintenance of a patrol boat to operate from Maryport in the county of Cumbria and such other means as may from time to time be determined subject to the prior written consent of the charity commissioners for England and Wales.
The charity is organised so that the trustees are able to meet only as required.
Significant activities
The trustees have continued operating the inshore patrol boat from Maryport, Cumbria obtaining funding from donations and grant providers to enable it to provide the inshore patrol boat for the benefit of the local community in accordance with the objects of the charity.
FINANCIAL REVIEW
Financial position
The statement of Financial Activities shows net surplus for the year, before expenditure on equipment, of £130,804, and our unrestricted free reserves stand at £134,302.
Investment policy and objectives
Under the memorandum and articles of association the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that due to the need to have funds accessible to meet current commitments, surplus funds are placed in an instant access deposit account.
FUTURE PLANS
The charity is expected to continue to operate the inshore patrol boat. Plans are underway to develop an in-house training facility that can be used to train Maryport Lifeboat personnel and also individuals and groups from external bodies.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05711803 (England and Wales)
Registered Charity number
1113807
Registered office
2/3 South Quay Maryport Cumbria CA15 8AB
Page 1
Maryport Inshore Rescue Boat
Report of the Trustees for the Year Ended 24 July 2021
Trustees
G Farish Welder G Hampson Instrument Supervisor M M Messenger Double Glazing Surveyor J M Norman Design Engineer Ms T Messenger Bar Manager
Company Secretary
Ms T Messenger
Independent Examiner
Cumbria CVS Shaddongate Resource Centre Carlisle Cumbria CA2 5TY
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... M M Messenger - Trustee
Page 2
Independent Examiner's Report to the Trustees of Maryport Inshore Rescue Boat
Independent examiner's report to the trustees of Maryport Inshore Rescue Boat ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 24 July 2021.
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
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
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
-
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.
Alan John Stubbs FCMA CGMA Cumbria CVS Shaddongate Resource Centre Carlisle Cumbria CA2 5TY
Date: .............................................
Page 3
Maryport Inshore Rescue Boat
Statement of Financial Activities for the Year Ended 24 July 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 29,286 Charitable activities Charitable Activities 108,951 Investment income 2 100 Other income 8,867 Total 147,204 EXPENDITURE ON Raising funds 732 Charitable activities Charitable Activities 71,209 Total 71,941 NET INCOME/(EXPENDITURE) 75,263 Transfers between funds 8 (4,848) Net movement in funds 70,415 RECONCILIATION OF FUNDS Total funds brought forward 144,048 TOTAL FUNDS CARRIED FORWARD 214,463 |
Restricted funds £ - 66,890 - - 66,890 - 11,349 11,349 55,541 4,848 60,389 18,378 78,767 |
24.7.21 Total funds £ 29,286 175,841 100 8,867 214,094 732 82,558 83,290 130,804 - 130,804 162,426 293,230 |
24.7.20 Total funds £ 30,867 25,257 288 - 56,412 - 67,100 67,100 (10,688) - (10,688) 173,114 162,426 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
Maryport Inshore Rescue Boat
Balance Sheet
24 July 2021
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 6 99,258 CURRENT ASSETS Cash at bank 115,705 CREDITORS Amounts falling due within one year 7 (500) NET CURRENT ASSETS 115,205 TOTAL ASSETS LESS CURRENT LIABILITIES 214,463 NET ASSETS 214,463 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 78,708 59 - 59 78,767 78,767 |
24.7.21 Total funds £ 177,966 115,764 (500) 115,264 293,230 293,230 214,463 78,767 293,230 |
24.7.20 Total funds £ 120,308 43,576 (1,458) 42,118 162,426 162,426 144,048 18,378 162,426 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 July 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 24 July 2021 in accordance with Section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M M Messenger - Trustee
The notes form part of these financial statements
Page 5
Maryport Inshore Rescue Boat
Notes to the Financial Statements for the Year Ended 24 July 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| 24.7.21 | 24.7.20 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 100 | 288 |
Page 6
continued...
Maryport Inshore Rescue Boat
Notes to the Financial Statements - continued for the Year Ended 24 July 2021
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 24.7.21 | 24.7.20 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 30,457 | 20,212 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 24 July 2021 nor for the year ended 24 July 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 24 July 2021 nor for the year ended 24 July 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 30,867 Charitable activities Charitable Activities 25,257 Investment income 288 Total 56,412 EXPENDITURE ON Charitable activities Charitable Activities 40,818 NET INCOME/(EXPENDITURE) 15,594 Transfers between funds (2,143) Net movement in funds 13,451 RECONCILIATION OF FUNDS Total funds brought forward 130,597 TOTAL FUNDS CARRIED FORWARD 144,048 |
Restricted funds £ - - - - 26,282 (26,282) 2,143 (24,139) 42,517 18,378 |
Total funds £ 30,867 25,257 288 56,412 67,100 (10,688) - (10,688) 173,114 162,426 |
|---|---|---|
continued...
Page 7
Maryport Inshore Rescue Boat
Notes to the Financial Statements - continued for the Year Ended 24 July 2021
6. TANGIBLE FIXED ASSETS
| Fixtures Fittings & Equipment £ COST At 25 July 2020 100,167 Additions 8,996 At 24 July 2021 109,163 DEPRECIATION At 25 July 2020 48,140 Charge for year 8,779 At 24 July 2021 56,919 NET BOOK VALUE At 24 July 2021 52,244 At 24 July 2020 52,027 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 8. MOVEMENT IN FUNDS Net At movement 25.7.20 in funds £ £ Unrestricted funds General fund 63,887 75,263 Designated Unrestricted Fixed assets 80,161 - 144,048 75,263 Restricted funds Equipment 3,544 - Crew training - (4,848) Department of Transport 14,834 (6,501) Mezzanine Floor - 66,890 18,378 55,541 TOTAL FUNDS 162,426 130,804 |
Boat, trailer and vehicles £ 209,491 79,119 288,610 141,210 21,678 162,888 125,722 68,281 24.7.21 £ 500 Transfers between funds £ (4,848) - (4,848) - 4,848 - - 4,848 - |
Totals £ 309,658 88,115 |
|---|---|---|
| 397,773 | ||
| 189,350 30,457 |
||
| 219,807 | ||
| 177,966 | ||
| 120,308 | ||
| 24.7.20 £ 1,458 At 24.7.21 £ 134,302 80,161 |
||
| 214,463 3,544 - 8,333 66,890 |
||
| 78,767 | ||
| 293,230 |
continued...
Page 8
Maryport Inshore Rescue Boat
Notes to the Financial Statements - continued for the Year Ended 24 July 2021
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Crew training Department of Transport Mezzanine Floor TOTAL FUNDS |
Incoming resources £ 147,204 - - 66,890 66,890 214,094 |
Resources Movement expended in funds £ £ (71,941) 75,263 (4,848) (4,848) (6,501) (6,501) - 66,890 (11,349) 55,541 (83,290) 130,804 |
Resources Movement expended in funds £ £ (71,941) 75,263 (4,848) (4,848) (6,501) (6,501) - 66,890 (11,349) 55,541 (83,290) 130,804 |
|---|---|---|---|
| 55,541 | |||
| 130,804 |
Comparatives for movement in funds
| Unrestricted funds General fund Designated Unrestricted Fixed assets Restricted funds Equipment Crew training Training Centre Training salaries Department of Transport TOTAL FUNDS |
At 25.7.19 £ 50,436 80,161 130,597 9,986 - 7,452 4,184 20,895 42,517 173,114 |
Net movement in funds £ 15,594 - 15,594 (6,442) (13,404) (375) - (6,061) (26,282) (10,688) |
Transfers between funds £ (2,143) - (2,143) - 13,404 (7,077) (4,184) - 2,143 - |
At 24.7.20 £ 63,887 80,161 |
|---|---|---|---|---|
| 144,048 3,544 - - - 14,834 |
||||
| 18,378 | ||||
| 162,426 |
continued...
Page 9
Maryport Inshore Rescue Boat
Notes to the Financial Statements - continued for the Year Ended 24 July 2021
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Incoming | Resources | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 56,412 | (40,818) | 15,594 | |
| Restricted funds | ||||
| Equipment | - | (6,442) | (6,442) | |
| Crew training | - | (13,404) | (13,404) | |
| Training Centre | - | (375) | (375) | |
| Department of Transport | - | (6,061) | (6,061) | |
| - | (26,282) | (26,282) | ||
| TOTAL FUNDS | 56,412 | (67,100) | (10,688) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated Unrestricted Fixed assets Restricted funds Equipment Crew training Training Centre Training salaries Department of Transport Mezzanine Floor TOTAL FUNDS |
At 25.7.19 £ 50,436 80,161 130,597 9,986 - 7,452 4,184 20,895 - 42,517 173,114 |
Net movement in funds £ 90,857 - 90,857 (6,442) (18,252) (375) - (12,562) 66,890 29,259 120,116 |
Transfers between funds £ (6,991) - (6,991) - 18,252 (7,077) (4,184) - - 6,991 - |
At 24.7.21 £ 134,302 80,161 |
|---|---|---|---|---|
| 214,463 3,544 - - - 8,333 66,890 |
||||
| 78,767 | ||||
| 293,230 |
continued...
Page 10
Maryport Inshore Rescue Boat
Notes to the Financial Statements - continued for the Year Ended 24 July 2021
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Equipment Crew training Training Centre Department of Transport Mezzanine Floor TOTAL FUNDS |
Incoming resources £ 203,616 - - - - 66,890 66,890 270,506 |
Resources Movement expended in funds £ £ (112,759) 90,857 (6,442) (6,442) (18,252) (18,252) (375) (375) (12,562) (12,562) - 66,890 (37,631) 29,259 (150,390) 120,116 |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 24 July 2021.
Page 11
Maryport Inshore Rescue Boat
Detailed Statement of Financial Activities for the Year Ended 24 July 2021
| Detailed Statement of Financial Activities for the Year Ended 24 July 2021 |
||
|---|---|---|
| 24.7.21 | 24.7.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 29,286 | 30,867 |
| Investment income | ||
| Deposit account interest | 100 | 288 |
| Charitable activities | ||
| Grants | 175,841 | 25,257 |
| Other income | ||
| VAT Refunded | 8,867 | - |
| Total incoming resources | 214,094 | 56,412 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 732 | - |
| Charitable activities | ||
| Insurance | 5,883 | 4,072 |
| Light and heat | 1,366 | 1,015 |
| Telephone | 1,371 | 1,600 |
| Postage and stationery | 365 | 14 |
| Advertising | - | 75 |
| Purchases | 1,965 | (292) |
| Training | 4,848 | 15,651 |
| General Expenses | 18,547 | 10,064 |
| Repairs and Maintenance | 3,812 | 2,409 |
| Fuel | 3,159 | 2,373 |
| Accountancy Fees CVS Right Balance | ||
| Accounting | 500 | 720 |
| Certification | - | 1,008 |
| SP Services First Aid Equipmen t | - | 1,513 |
| Cleaning | - | 50 |
| Subscriptions | - | 504 |
| Safety Equipment | 10,285 | 6,112 |
| Fixtures and fittings | 23,956 | 14,151 |
| Motor vehicles | 6,501 | 6,061 |
| 82,558 | 67,100 | |
| Total resources expended | 83,290 | 67,100 |
| Net income/(expenditure) | 130,804 | (10,688) |
This page does not form part of the statutory financial statements
Page 12