REGISTERED COMPANY NUMBER: 06666537 (England and Wales) REGISTERED CHARITY NUMBER: 1125680
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
FOR
KENDAL MOUNTAIN SEARCH & RESCUE TEAM (A COMPANY LIMITED BY GUARANTEE)
Mitchinsons Accountants 22 Market Place
Kendal Cumbria LA9 4TN
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 15 |
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
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 31 August 2023. 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's objects to recruit, train, maintain, equip and keep in a state of readiness a team of volunteers who are willing and able to search for and rescue any persons (or animals) in distress primarily in the Lakeland and Cumbria Fells but also in other areas as required and to respond to any request for assistance from the police and other emergency services.
Public benefit
The trustees confirm that they have paid due regard to the public benefit guidance published by the Charity Commission.
Page 1
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
STRATEGIC REPORT
Achievement and performance
The Team responded to 53 incidents in 2023, an increase on the previous year and our five-year average of 46 callouts. The wide range of locations and types of incidents that the Team can expect to deal with continued, as did the level of assistance provided to the statutory Emergency Services in support of, or beyond, their normal capabilities. In common with many Lake District Mountain Rescue teams, the demand experienced for the services the Team provide can be expected to at least be maintained, or potentially increased, as the numbers of those undertaking outdoor activities within South Lakes and the surrounding area continues to grow. Consequently, we continue to work to strengthen our operating capability to meet these demands.
Training remains a cornerstone for both mitigating the risks faced by all volunteer members during callouts as well as ensuring the operational performance of the Team is maintained to a "rescue standard". Throughout 2023 Team members have continued to train in a range of skills, including technical rope rescue, casualty care, swift water rescue, working around helicopters, winter hill-skills, and search management. Team members' training totalled over 1900 hours in 2023, with all team members expected to attend at least a minimum of 4 Wednesday and 4 Sunday training sessions in a rolling 12 month period to retain full operational team membership.
A key priority for the new Team Leader and Leader Group as we entered 2023 was a review of the Team structure and organisation, with the primary objective of further strengthening the operating culture and performance of the team. The modifications that were identified and subsequently implemented have been well supported by all Team members and whilst some work remains to fill a few open, unelected operational posts, it is the view of the Directors that the Team is in a strong position to meet our ongoing objectives. Moreover, it is also believed that this process ensures development opportunities for aspirant leaders and adds to the resilience of our Team structures.
Work has continued throughout 2023 by the Directors to review and assess the risks faced across all aspects of the Team's work and operational planning. It is anticipated that this will very shortly be formalised in a revised risk register that, once ratified by the Leader Group and Management committee, will further accelerate the development of a team culture through which there is an increased awareness of the major risks faced by all volunteer members, and a proactive response to establishing the control systems necessary to mitigate and manage these risks as far as possible.
As with all years, the membership of the Team has seen some changes with some long-standing members resigning as their personal circumstances change. We have been fortunate not to have a shortage of individuals on our official 'waiting list' for membership and a new intake of highly experienced provisional members were welcomed to the Team to ensure our membership numbers remain stable. Almost immediately, further applications have been received to keep the waiting list refreshed and healthy.
In addition to completing the refurbishment of our two Land Rovers this year, thereby extending their operating life and ensuring standardisation, the Team has been in the fortunate position to add a new response vehicle to its fleet. As well as providing greater resilience to the vehicle fleet overall, this will give the Team the ability to maintain two response vehicles in full operational readiness should the need arise; for example in the case of being tasked to support a neighbouring team whilst a Kendal Team callout is already underway.
From a financial standpoint the Team remains in a very healthy position. However, it must be recognised that the Team is likely to face significant costs in the coming years as it seeks to secure the future of the existing Base and its potential expansion onto neighbouring community land. Following the recent reorganisation of local government in Cumbria, the newly formed Westmorland & Furness Council have approved a revised Property Disposal and Capital Asset Transfer Policy. Under this policy there is finally greater clarity on the potential for the Team to explore renewing the currently expired lease on the existing Base, as well as the potential to obtain additional neighbouring land under a Community Asset Transfer agreement. It is anticipated that in 2024, amongst its other ambitions and objectives, this will be a major focus for the Teams' development planning and fund-raising activities.
Page 2
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
STRATEGIC REPORT Financial review
Financial position
The increase in income during the year is mainly due to a substantial legacy receivable of £124,950.
The Team continues to receive a tremendous level of financial support from the local community. The Team is grateful to the people of Kendal and the surrounding area, and the many visitors to South Lakeland, who continue to support us financially, in what remain difficult economic times. Team fundraising income, mainly from collection boxes, was £9,663 a decrease from £11,185 in 2022.
Donations and legacies amounted to £189,996, including Gift Aid. Once again the Lake District Search & Mountain Rescue Association (LDSAMRA) showed great support with £15,000 and legacies amounted to £135,950.
Reserves policy Operational Reserve
The Team maintained the Operational Reserve, being three years' estimated essential running costs, amounting to £150,000.
Emergency Reserve
This was maintained at £50,000 and is available should a vehicle be written off or for any other unforeseeable major expense.
Restricted and Unrestricted Reserves
Details of designated unrestricted reserves are shown in Note 18 to the accounts. There were no restricted reserves in the current or previous year.
Investments
During the year the the Team maintained the investment level on the Flagstone on-line platform, the total including interest is approximately £375,000. The United Trust Bank deposit has been maintained at approximately £85,000 and the majority of the remainder of the Team's funds are held in a current account with Virgin Money (Yorkshire Bank).
Future plans
The Team plans to continue to provide the best mountain search and rescue service that it is able to do, and to assist and support other mountain rescue teams and emergency services when requested. The Team has resolved to try to build financial reserves to a level where the running costs of the Team are covered by the interest of our reserves and dividends of any investments. This would guarantee the Team's ability to be able to assist people in distress in the the South Lakes are for the foreseeable future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Kendal Mountain Search & Rescue Team is a company limited by guarantee and does not have share capital; each member's contribution not exceeding £10 on dissolution. It is governed by its Memorandum and Articles of Association dated 6 August 2008, as amended by the special resolution dated 2 November 2016 which restricts the maximum number of directors to seven. It was registered as a charity with effect from 1 September 2008 and commenced its activities on 1 December 2008.
Recruitment and appointment of new trustees
The trustees are responsible for the overall management and control of the charity. The trustees are elected by the charity's members at the Annual General Meeting; one third of the trustees shall retire from office by rotation, however they shall eligible for re-election.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06666537 (England and Wales)
Page 3
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
Registered Charity number 1125680
Registered office
Kendal MSRT Base Busher Walk Kendal Cumbria LA9 4RH
Trustees
J P Burgess Ms J N W Funnell D Winchester A Womack (resigned 1/11/23) D W Baynham-Hughes S Ohly (resigned 24/1/24) N A Davies (appointed 1/11/23) Ms J C Young (appointed 31/1/24) Ms K L Jackson (appointed 7/2/23)
Company Secretary
D Howarth
Independent Examiner
Jennifer Marshall Mitchinsons Accountants 22 Market Place Kendal Cumbria LA9 4TN
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 24 May 2024 and signed on the board's behalf by:
N A Davies - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KENDAL MOUNTAIN SEARCH & RESCUE TEAM
Independent examiner's report to the trustees of Kendal Mountain Search & Rescue Team ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
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
-
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.
Jennifer Marshall
The Association of Chartered Certified Accountants
Mitchinsons Accountants 22 Market Place Kendal Cumbria LA9 4TN
24 May 2024
Page 5
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023
| 2023 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 189,996 Other trading activities 4 9,663 Investment income 5 12,502 Other income 33,022 Total 245,183 EXPENDITURE ON Raising funds 6 1,827 Charitable activities 7 Provision of Mountain Search & Rescue 80,812 Total 82,639 NET INCOME 162,544 RECONCILIATION OF FUNDS Total funds brought forward 589,830 TOTAL FUNDS CARRIED FORWARD 752,374 |
2022 Total funds £ 91,980 11,185 3,150 - |
|---|---|
| 106,315 | |
| 1,643 52,974 |
|
| 54,617 | |
| 51,698 538,132 |
|
| 589,830 |
The notes form part of these financial statements
Page 6
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
BALANCE SHEET 31 AUGUST 2023
| 2023 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 14 106,048 CURRENT ASSETS Debtors 15 163,519 Investments 16 375,611 Cash at bank and in hand 110,879 650,009 CREDITORS Amounts falling due within one year 17 (3,683) NET CURRENT ASSETS 646,326 TOTAL ASSETS LESS CURRENT LIABILITIES 752,374 NET ASSETS 752,374 FUNDS 18 Unrestricted funds 752,374 TOTAL FUNDS 752,374 |
2022 Total funds £ 46,368 21,448 370,479 155,647 547,574 (4,112) 543,462 589,830 589,830 589,830 589,830 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.
The financial statements were approved by the Board of Trustees and authorised for issue on 24 May 2024 and were signed on its behalf by:
K L Jackson - Trustee
The notes form part of these financial statements
Page 7
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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 incoming resources are included in the financial statements when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and it can be measured;
-
legacy income is recognised when receipt is probable and entitlement is established;
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers;
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as a a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods;
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs relating to the governance of the charity apportioned to charitable activities;
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the term of the lease on a straight-line basis.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment
- 40% on reducing balance
continued...
Page 8
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Motor vehicles - 25% on reducing balance
All tangible fixed assets are initially recorded at cost. Items under £500 are not capitalised and are written off to expenditure in the statement of financial activities when the asset is required.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience of other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The key policy that may have a significant risk of causing a material adjustment to the carrying amounts of assets within the next financial year is depreciation of tangible of tangible fixed assets.
3. DONATIONS AND LEGACIES
| Donations from Patrons Donations from LDSAMRA Donations from LAMRT Other donations Gift aid tax Legacies |
2023 £ 1,877 15,000 10,000 25,187 1,982 135,950 189,996 |
2022 £ 2,260 18,000 10,000 15,674 3,637 42,409 |
|---|---|---|
| 91,980 |
4.
OTHER TRADING ACTIVITIES
| Fundraising - collection boxes Fundraising - sponsorship Fundraising - flag days Fundraising - talks Fundraising - other |
2023 £ 5,656 2,840 249 56 862 9,663 |
2022 £ 6,108 622 635 820 3,000 |
|---|---|---|
| 11,185 |
continued...
Page 9
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 5. INVESTMENT INCOME 2023 £ Rental of aerial 1 Bank bond interest 1,502 Investment income 10,999 12,502 6. RAISING FUNDS Raising donations and legacies 2023 £ Professional fees 380 Other trading activities 2023 £ Team fundraising costs 518 Investment management costs 2023 £ Management fees 929 Aggregate amounts 1,827 7. CHARITABLE ACTIVITIES COSTS Direct Support Costs (see costs (see note 8) note 9) £ £ Provision of Mountain Search & Rescue 78,799 2,013 |
2022 £ 1 648 2,501 |
|---|---|
| 3,150 | |
| 2022 £ 390 2022 £ 390 2022 £ 863 1,643 Totals £ 80,812 |
continued...
Page 10
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
8. DIRECT COSTS OF CHARITABLE ACTIVITIES
| 8. | DIRECT COSTS OF CHARITABLE ACTIVITIES | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Base | 11,816 | 9,438 | |
| Communications | 2,575 | 1,572 | |
| Vehicles | 3,654 | 2,969 | |
| Medical | 2,702 | 5,402 | |
| Equipment | 7,023 | 2,352 | |
| Training | 8,988 | 4,465 | |
| Administration | 1,021 | 549 | |
| Legal and professional fees | 240 | 245 | |
| Information technology | 1,474 | 1,774 | |
| Depreciation | 39,306 | 22,049 | |
| Loss on sale of assets | - | 91 | |
| 78,799 | 50,906 | ||
| 9. | SUPPORT COSTS | ||
| Governance | |||
| costs | |||
| £ | |||
| Provision of Mountain Search & Rescue | 2,013 | ||
| Support costs, included in the above, are as follows: | |||
| 2023 | 2022 | ||
| Provision | |||
| of | |||
| Mountain | |||
| Search & | Total | ||
| Rescue | activities | ||
| £ | £ | ||
| Accountancy and independent examination | 2,000 | 2,055 | |
| Other governance costs | 13 | 13 | |
| 2,013 | 2,068 | ||
| 10. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation - owned assets | 39,305 | 22,050 | |
| Surplus/(deficit) on disposal of fixed assets | (33,022) | 91 |
continued...
Page 11
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
12. STAFF COSTS
There were no staff costs in the current year or previous year.
13. INDEPENDENT EXAMINER'S FEES
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accountancy and independent examination | 2,000 | 2,055 |
| Other financial services | 620 | 635 |
| 2,620 | 2,690 | |
14. TANGIBLE FIXED ASSETS
| COST At 1 September 2022 Additions At 31 August 2023 DEPRECIATION At 1 September 2022 Charge for year At 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 |
Long leasehold £ 141,240 - 141,240 141,240 - 141,240 - - |
Equipment £ 155,621 - 155,621 135,840 7,912 143,752 11,869 19,781 |
Motor vehicles £ 187,569 98,985 286,554 160,982 31,393 192,375 94,179 26,587 |
Totals £ 484,430 98,985 |
|---|---|---|---|---|
| 583,415 | ||||
| 438,062 39,305 |
||||
| 477,367 | ||||
| 106,048 | ||||
| 46,368 |
continued...
Page 12
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Gift Aid tax recoverable VAT Accrued interest receivable Prepayments 16. CURRENT ASSET INVESTMENTS Flagstone on-line platform 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 18. MOVEMENT IN FUNDS At 1.9.22 £ Unrestricted funds General fund 389,830 Designated Operational Reserve 150,000 Designated Emergency Reserve 50,000 589,830 TOTAL FUNDS 589,830 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 245,183 TOTAL FUNDS 245,183 |
2023 £ 124,950 1,931 24,960 7,198 4,480 163,519 2023 £ 375,611 2023 £ 1,063 2,620 3,683 Net movement in funds £ 162,544 - - 162,544 162,544 Resources expended £ (82,639) (82,639) |
||
|---|---|---|---|
continued...
Page 13
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
18. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.9.21 £ Unrestricted funds General fund 338,132 Designated Operational Reserve 150,000 Designated Emergency Reserve 50,000 538,132 TOTAL FUNDS 538,132 Comparative net movement in funds, included in the above are as follows: |
Net movement in funds £ 51,698 - - 51,698 51,698 |
At 31.8.22 £ 389,830 150,000 50,000 |
|---|---|---|
| 589,830 | ||
| 589,830 | ||
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 106,315 106,315 |
Resources Movement expended in funds £ £ (54,617) 51,698 (54,617) 51,698 |
Resources Movement expended in funds £ £ (54,617) 51,698 (54,617) 51,698 |
|---|---|---|---|
| 51,698 |
The Designated Operational Reserve is equivalent to three years essential operating costs assuming no external income and no capital expenditure.
The Designated Emergency Reserve is available should a vehicle be written off or for any other unforeseeable major expense.
19. OTHER FINANCIAL COMMITMENTS
Operating lease
The charity's lease with Cumbria County Council expired on 31 December 2018. At the time of preparing these accounts, Westmorland and Furness Council (formerly Cumbria County Council) have not offered a new lease contract. However, rent of £1,100 has been paid for each of the calendar years 2019 to 2023 inclusive.
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
continued...
Page 14
KENDAL MOUNTAIN SEARCH & RESCUE TEAM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
21. OTHER INCOME
Included in other income totalling £33,022, is £32,600 insurance claim received for mobile vehicle 1. The vehicle is still held and has been fully rebuilt and £422 received on sale of vehicle parts.
Page 15