SOUTHPORT OFFSHORE RESCUE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Charily registration number 1146805
Company registration number 08011925 (England and Wales)

SOUTHPORT OFFSHORE RESCUE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MT A S D'Arcy-Maslers
Mrs N O Goldup
MrA J Porter
Mr K A Porter
MT N D Porter
Mr J Shawcrofl
MT A W Topping
Mrs K Wilson
Mrs E Aliiiond
Mr J J Felice
Mr M D Parkes
(Appointed 7 July 2023)
Secretary
Mrs E Almond
Cliarlty iiuinber
1146805
Company nuinher
08011925
Reglstered office
7-9 Slalion Road
Heskelh Bank
Preston
Laiicashire
PR4 6SN
Iiidepeiidejit examliier
Cliaiiipioii TLL Limited
7-9 Slalion Road
Heskelli Baiik
Presloii
Lancashire
PR4 6SN

SOUTHPORT OFFSHORE RESCUE TRUST
CONTENTS
Page
Trustees ieport
Independenl examinerfs report
Slatement of financial aclivilies
Balance sheet
Notes lo the financial slalements
9-17

SOUTHPORT OFFSHORE RESCUE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees presenl their annual report and financial statements for Ihe year ended 31 March 2024.
The financial stalemenls have been prepared iii accordance wilh the accouiitiiig policies set out iii note 1 to the
rii)aiicial slaleinei)Is and coinply wilh Ihe Charitable Coinpany's goveriiing document, the Companies Acl 2006 and
"Accounting arid Reporting by Charities.. Statement ol Recommended Practi￿ applicable to charilies preparing Ilieir
accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS
102)" (effective 1 Januaiy 2019).
Oblectives and activltles
T17e objects of Ilie Cl)arity are slaled as follows, ii) the Goveriiiiig Docuiiieiil..
Aiiy charilal)le i)Liri)ose lor the public beiielil for the preservalion and saving ol life al sea and to eqLJlp, maintain and
operate ali offsliore rescue service at Soulhport.
To caTry out beach, mild and marshland searches and rescues al Soulhport and the Silrrounding area between the
rivei's Mew%ey and Ribble and lo assist in improving the slaiidards of coaslliiie safely there.
PiiblSc beiieflt
The Trusl&es have considered Ihe Charity Commission guidance regarding public benefil and are salisfied Ihal the
aclivilles of Ihe ChaTily, as descrlbed above, Ineel the necessary CTilefla.
AcliSeveine•its and perfomiance
Searcli aiid Rescue Servlce
As in all pievious years. we Temaiiied fully available for all emergency call-ouls, with crew avallable for all
eveiilualilies.
The Board of Trlislee DirecloTS would like to take this opportunily lo thank our Search and Resciie crews for Iheir
de.(licalion aiid commilinenl during 11)is period and in ensuriiig that Ilie setvice Temaiiied 011 24 hour eniergeiicy call-
oiil Iliroughoiil Ihe year. We woiild also like lo extend Ihese thanks lo aur Charily Sliop staff, who liave kept the
slioi) fully starred and stocked Ihroughout Iliis period, ensuiing Iliat the Inucli needed funds were brouglit iii lo
mainlain our service delivery.

SOUTHPORT OFFSHORE RESCUE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
New Llfeboat station Project
The start of 2023 marked Ihe first anniversary of our new Lifeboat Slalion. During Ihis lime and Ihroughoul the 20231
24 reporting period, our crews have become accustomed to Iheir new suiroundings ai)d have had the opportunily to
adapt and arrange the building and ils contenls lo suit our needs.
We have held a number of Open Days and held numerous talks lo interested organisalions. where we have been
able lo showcase all OUT assels and Ihe new facilities all under one roof.
Soulhport Offshore Rescue Trust have also had Ihe opportunity to host many of the olher emergency services
personnel and equipment, during both training and emergency call-ouls. They have all beeii very complimei)lary in
new facllilies Ihal we can now offer.
A88ets
Both our offshore and inshore lifeboals are regularly mainlained in order to ensure thal they are Teady for immediate
call-oul at all limes.
In January 2024. we replaced our Ihree ATV quads, which had come lo the end of Iheir operalional servlce life wilh
us. They were very well maintained and were able lo command a very good Irade-in value agai1is1 Iheir
replacenienls. The TTUSI decided to conlinue wilh Ihe same make and model (CaiiAm Oullaiider) as previous due lo
their ability lo cope wilh our local lerraiii. The ATV quads continue Ihe Se￿iCe of providing an excelleiil search and
rescue ISAR) capability for Ihe Trust. The quads have proven lo be Ihe workhorse of OUT organisalion, All Iliree
quads are also equipped wilh an exlra seal. Tliis enables us lo Iransporl addilional personnel lo and from an
incident when required. We are also able to trai)sport additional equipment if required, Ihroiigh the use of ali ATV
Irailer allached lo one of the quads.
The Trust currently have Iwo launch vehlcles In oui Ileet, a fully converted Calerplllar Challenger E95 and a
modified New Holland TD5 Iraclor. The Trust also have a second Caleipillar Challenger E85. This vehicle was sent
lo the Habbeke Shipyard in Holland during Oclober 2023 for conversion into a fully marinized launch vehlclo, The
conversion continues and it is expecled to be returned and in seNice during the summer of 2024.
Currenlly the existing Challenger is our primary launch vehicle. wilh the New Holland being ulilised for Inshore
lifeboal launching duties.
Following the inlroduclion of our UAS (Unmanned Aerial Syslem) assets (Orones) to our Search and Resciie
service. They have been lasked lo many of our einergency call-ouls. This is especially so in Ihe searcli for Inissing
casiialties wilhiii the dunes to the south of our operalioiial area bul also frequently to Ihe vast marshland area lo the
north.
All our UAS operations are carried out with the specific permission glven by Natural England lo fly wilhin Slles of
Special Scientific Inlerest {SSSi).
Also a major benefit of our UAS assels is lo fly above areas where people are iii daiiger of beiiig cul off by Ilie lide.
They are able lo relay inlormalion lo our ground and walerborne assels directing them to Ihe safesl passage lo
safety.
The Trust currently have iwo qualified SAR UAS Pilots. with Ihree other Irainees CUTrenlly undergoing an in-house
training schedule. piior lo being sent on a pilotage examination. We operate 2 slate of the art drones, bolh willi HD
and thermal imaging cameras. The intenlion will be to soon add a third drone inlo our fleet, with Ihe intention of
retiring our oldest assel after a period of Iraining.
Emergency Call-outs
Full details for Ihe reporting period are delailed in an appendix at Ihe back of the accounts.

SOUTHPORT OFFSHORE RESCUE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charlty Shop
As in previous years, Ihe shop has continued to perform above expeclalions and continues to increase ils income
levels to SLlPPOrt 11)e overall fundraisiiig activities of Ihe Trusl.
The Trusl CUTrenlly has 4 leases al Ihe Charily Shop complex, 69c. 71 and 69b (Units 1 & 3) Everton Road.
Soutliport Llfeboat Lottery
The Lolteiy has proven lo be a very reliable source of income which allows the Trusl lo invest for Ihe future in new
equipment and pren7ises.
Our lollery canvassing company conlinue their normal door lo door aclivilies in signing up new members. However,
due lo the lasliiig effects of Ihe cost of living crisis. there has been a reduclioii in existing members. Willi new
nieinbers beiiig sigiied-LIP, the nLJmber of active players has coi)linued lo ren)aiii steady with oiily a sinall
perceiilage diop iii active players aiid in lurn we liave only seen a small decrease iii the iiioiilhly income provided.
Donatlons and Bequests
Tl)e i)Iiinber of fui?draisii)g activities boll) by ourselves arid by our supporters, local organisalions, clLibs aiid
socielies reluriied duriiig this reporting year has seeii a niarked ii)crea5e iii donations received. As Inenlioned
previously, the talks and Open Days al our Lifeboal Slalion has proved to be a very successfLII iiicon)e generalDr.
UnfottLiiialely, oiir collection lins, conlinues to struggle with very lillle collected in Ihese in all Ihe various shops and
piiblic hoiises iii oiir area.
We have benefilled from a number of significant legacies which have been bequeall)ed lo Ihe Trusl. Most nam81y
Ilie Margaret Rol)ertsoi) Charilable Trust. wl)icl) was foriiied shorily afler Mrs Robeilsoii's dealli iii April 2020 10
lielp siipport Iliree named cl)arilies. of which we were named as one. This Irust will provide upon application, funds
for specific projects on a year lo year basis for al least Ihe iiexl five lo leii years. Tlie Trusl l)ave now received Iliree
aniiiial doi)alions, which liave been Lised lo lielp with Ihe Lifeboat Slalioii filling-oul arid also Ilie launcli vehicle
purchase and conversion.
During Ihis reporting peiiod, we were also bequeathed a sizeable legacy from Ihe estate of the late Mrs Maureen
Lound.

SOUTHPORT OFFSHORE RESCUE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
The Trustees aim lo maintain a level of rese￿eS that would enable Ihe Charily lo coiitinue and be financially viable
for a period of Iwelve months. il income streams were to diminish; This equales lo approximately £150.000.
Due lo the drive lo raise funds for Ihe building of a new boalhouse. cash and inveslment holdings al Ihe year end
are well in excess of the above amounl. Much of these reseTves will be spent in Ihe medium term however, and
most of the balance is designaled as fixed assels where monies have already been spent . The Trustees will
monitor this project closely lo ensure sufficient reseNes are Telained upon complelion.
Investment pollcy and objectlves
The Tiustees are responsible for Ihe inveslmenl of any surplus funds of the Charity. As such funds may be required
for immediale use or use in the near fulure, Ihe Truslees continue to review various Interesl beariiig, inslanl access
aiid term deposit accounts in which to place such monies.
Rlsk management
The Irustees have assessed the malor risks lo which the Charitable Company is exposed.
and are satisfied Ihal systems are in place lo miligale exposure lo Ihe major risks.
Structure, goveriiance and management
The charity is conlrolled by ils Memorandum and Artlcles of Associalion and conslilules a limited company, Ilinit6d
by guaraiitee, a5 defined by the Companies Acl 2006.
The Iruslees, who are also the direclors for the purpose of company law, and who served during tl)e year and up lo
the dale of signature of Ihe financial slalemenls were..
MrA S D'Arcy-Masters
Mrs N D Goldup
Mr P M Heskelh
Mr A J Porter
Mr K A Porter
Mr N D Porter
Mr J Shawcroft
MrA W Topping
Mrs K Wilson
Mrs E Almond
Mr J J Felice
Mr M D Parkes
(Resigned 7 July 2023)
(Appointed 7 July 2023)
The Trustees IOT Ihe year in queslion are delailed in Ihe accompanying documents.
New Truslees can be appoinled by a resolution of the exisling Trustees.
Inductlon and training of new trustees
Traii)iiig and induction is provided verbally by existing Truslees.
The Iruslees report was approved by the Board of Trustees.
Mr A S D'Arc
Trustee
st
Dale:

SOUTHPORT OFFSHORE RESCUE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SOUTHPORT OFFSHORE RESCUE TRUST
report lo Ihe Iruslees on my examination of the financial statements of Soulhport Offshore Rescue TTUSI (the
Charitable Company) for Ihe year ended 31 Maich 2024.
Responslbilltles and basls of report
As Ihe Iruslees of Ilie ChaTilable Compaiiy {and also ils directors for Ihe purposes of coinpany law) you are
resi)oiisible for Ilie preparation of the financial slalemenls in accordaiice wilh the requirements of the Companies
ALI 2006 (Ihe 2006 Act).
Having salisfied mysell Ihal the financial slalemenls of Ihe Charitable Compaiiy are nol required lo be audited
uiider Part 16 of the 2006 Act ai)d are eligible for iiidependeiil examiiialion, I reporl iii respect of my exainiiialion of
Ilie Cliarilable Coiiii)aiiy's finaiicial slaleinenls carried oul under section 145 0( Ihe Clialilies Act 2011 (Ilie 2011
Act). In carrying out my exaniinalion I have followed all Ihe applicable Directions given by Ihe Charity Coininission
under section 145(5)(b) of Ihe 2011 Act.
Iiidepeiident exainliieV8 Statement
Siii(:e 11)e Cliarilable Cotni)aiiy's gross income exceeded £250.000 your exaffliner must be a member of a body
lisled 111 Section 145 01 Ilie 2011 Acl. I confirm Ihal l am qualified lo undertake Ihe examinalion because l am a
i))en)ber ol ICAEW, which is 01)e of Ilie lisled bodies.
I have coinpleted my exainiiialion. I confirm Ihat no mallers have come to my allenlion in connection wllli the
exaiminalion giving me cause lo believe that iii any malerial respect..
accouiiliiig records were not kepl in respecl of Ilie Chaiilable Company as requlred by section 386 of Ihe 2006
Act., or
the financial slaleinenls do not accord wilh those records: or
the fii)aiicial slaleiiiei)Is do i)ol con)ply willi Ihe accouiiling requireinenls of seclioii 396 of Ilie 2006 Acl ollier
Ihaii aiiy reqiiireinenl Ihal Ilie accounls give a Ifue and lair view wliich is not a maller coiisideied as parl of an
independenl exaiiiinalioii: or
Ihe fiiiailcial slalemenls have not been prepared in accordance willi Ihe Inelhods and principles of Ihe
Slcileinenl of Recoinniended Praclice for accounting and reporting by charilies aiiplicable to cl)arilies
prpi)ariiig their accoLiiils ir) accofdaiice with Ihe Finaiicial Reporiing Slaiidard applicable iii Ihe UK ai
Repliblic of Irelaiid (FRS 102>.
I have. no concerns and have come across no other mallers in coniieclion will) Ilie examiiialion lo wlilcli alleiilion
should be drawi) in Ihis ieporl in order to enable a proper underslandiiig of Ihe fiiiaiicial slaleiiienls lo be reaclied.
Cl)aiMploii TLL LI1￿lted
P Buck FCA,DChA
7-9 Slalioii Road
Heskelh Bank
Presloii
Lancashire
PR4 6SN

SOUTHPORT OFFSHORE RESCUE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Current financlal year
Unrestricted Deslgnated
funds
funds
general
2024
Total
Total
2024
2024
2023
Notes
Iiicome and endowmei)ts from:
Doiialions and legacies
Other trading activities
Iiivesln)eiils
Other income
279,632
310,514
11,328
279,632
310,514
11.328
96,092
289,620
866
7,500
Total Income
601,474
601,474
394,078
endlture on:
Raising funds
32.623
32.623
33,105
Offshore rescue
89,681
118,471
208,152
137,898
Other
13
225
Total expendlture
122,304
118,471
240,775
171,228
Net Incoinlng resources before transferJ
479,170
(118,471)
360,699
222,850
Gross transfers between funds
(217,569)
217,569
Net Incoine for the yearl
Net movement In funds
261,601
99,098
360,699
222,850
Fund balances at 1 April 2023
771.804
2,687.229
3,459.033
3,236,183
Fund balances at 31 March 2024
1.033,405
2,786,327 3,819,732
3,459,033
The slalemenl of financial activities includes all gains and losses recognised in the year.
The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive (rom corblilluing aclivilies.
The slalement of financial aclivities also cornplies wilh the requirements for an income and expendilure account
under the Companies Act 2006.

SOUTHPORT OFFSHORE RESCUE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Prlor financlal year
Unrestricted Deslgiiated
fuiids
fuiids
geiieral
2023
Total
2023
2023
Notes
Income aiid eiidowiiieiits from:
Donalioiis aiid legacies
Ollier trading aclivilies
Iiiveslinenls
Ollier income
96,092
289,620
866
7,500
96,092
289,620
866
7,500
Total Income
394,078
394,078
eii(Ilture oi):
Raising funds
33,105
33,105
Offshore rescue
137,898
137.898
Olher
13
225
225
Total expendlture
171.228
171.228
Net Incomlng resources before Iransfers
222,850
222,850
Gross Iransfers belween funds
<1.548)
1.548
Net iii¢oiMe for tlie yoarl
Net moveineiit in fuiids
221.302
1,548
222,850
Fiind balances al 1 April 2022
550.502
2,685.681
3,236,183
Fuiid balaiices at 31 Marcli 2023
771,804
2,687,229
3,459,033

SOUTHPORT OFFSHORE RESCUE TRUST
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Notes
Flxed asse18
Tangible assets
15
2,536,327
2.437,229
Current assets
Stocks
Deblors
Cash at bank and in hand
16
17
886
19,961
1,264,524
883
24,875
998,648
1.285.371
1,024,406
Creditors: amounls falling due wltliln
one year
18
(1,966)
(2,602)
Net current assets
1,283,405
1,021,804
Total assets less current Ilabllltles
3,819,732
3,459,033
Net assets excludlng penslon liablllty
3,819,732
3.459.033
The funds of the Charltable Company
Unreslricled funds - general
Unrestricted funds - designated
1,033,405
2.786,327
771,804
2,687,229
19
3,819,732
3,459,033
The coinpany is enlilled lo Ihe exemplion fiom the audit requiremenl contained In section 477 of the Companies Act
2006, for the year ended 31 March 2024.
The directors acknowledge thelr responsibilities for complying wilh the requirements of Ihe Companles Act 2006
wilh respect to accounting records and the preparalion of financial slalements.
The members have not required Ihe company lo obtain an audit of its financial statements for Ihe year in queslion in
accordance with section 476.
Tliese fiiiancial slalemenls have been prepared in accordan￿ wilh the provisions applicable to companies sublecl
to Ihe small coinpanies regime.
The financial statements were approved by the ITUStees on .
MrA J Porier
Trustee
Company regislralion number 08011925 (England and Wales)

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accoiintlng policies
Charlty Iiiforiiiatloii
Soulliporl Ollsliore Rescue Tiusl is a private company limiled by guarantee incorporated in England and
Wales. The registered office is 7-9 Station Road, Heskelh Bank. Preston. Laiicashire, PR4 6SN.
1.1 Accoiiiitiiig convojition
Tlie fii)ai)cial slatemeiils have been prepared in accordance with the Charitable Conip217y's [governiiig
docuinenll, tlie Companies Acl 2006. FRS 102 "The Financial Reporting Stai)dard applicable in Ilie UK and
Republic of Ireland" {"FRS 102.1 aiid the Cliarilies SORP "Accounting aiid Reporting by Charities.. Slalemenl
of Recomineiided Practice applicable lo cliaTilies prepaiiiig Iheir accounls li) accordance with Ihe Finaiici81
Reportiiig Slaiidard applicable iii Ihe UK ar)d Republic of Ifelaiid (FRS 102)" {e(feclive 1 Jaiiuary 20191. The
Charitable Company is a Public Benefit Enlily as defined by FRS 102.
The Charilable Company has taken advaiitage ol Ihe provisions in the SORP for charities nol lo prepare a
Slalemenl of Cash Flows.
The fiiiancial slatemenls are prepared in sterling, which is Ihe funclional currency of the Charilable Company.
Moiielary aniou171s iii these linaiicial s121eineiils are rouiided lo the iiearesl £.
Tl)e finai)cial slaleiiienls have been Prepared under Ihe hislorical cost convention . The Principal accoliiiling
policies adopied are sel oul below.
1.2 Gollig coiicerii
Al Ilie liine of approving the financial slateinenls, 11)e Irustees have a reasonable expeclalioii Ihal the
Charitable Coinpany has adeqiiale resources lo continue in opewalional exisleiice for Ilie foreseeable luliiie.
ThLlS the IrL151ees conliniie lo adopt the going concern basis of accounliiig iii PTepariiig Ihe liiiancial
slalemeiils.
1.3 Charitable fundg
UiifesliiLled fiiiids are available for use al the discrelion of Ihe Iruslee5 in furtheraiice of their charilable
objectives.
Reslricled funds are subject lo specific conditions by donors or graiiloTS as lo how Ihey may be used. Tho
purposes aiid uses of Ilie Teslricled fiiiids are Sel oiil in Ihe notes lo Ihe financial slalemenls.
1.4 Incoine
Inconie is recognised when the Chaiitable Coinpany is legally enlilled lo il after any performaiice condilions
have been mel, Ilie amoiiiils can be nieasured reliably, and it is probable that iiicome will be received.
Cash doi)alions are recogi)ised oli receipt. Other donations are recognised once the Charitable Company has
been iiolified of the donation, unless perfoTmance conditions require deferral of the aniounl. Incoine lax
recoverable in felalion lo donalions received under Gift Aid or deeds of covenant is recognised al the lime of
the donalion.
Legacies are recognised on receipt or olheNiise il the Charitable Company has been nolified of ali iinpeiidii)g
dislribulioii. the ainounl is kiiown. and receipt is expected. If the amounl is not kllown, Ihe legacy is Irealed as
a coiilingenl asset.

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policies
Icontinuedl
1.5 Expenditure
Expendilure is recognised once Ihere is a legal or conslruclive obligation lo transfer economic benefit to a
third party. il is probable Ihal a transfer of economic benefits will be required in selllement, and the amount of
the obligalion can be measured reliably.
Expenditure is classified by activity. The costs of each aclivily are made up of the lolal of direct costs aiid
shared costs. including support costs involved in undertaking each aclivily. Direct cosls alliibulable to a single
aclivily are allocaled directly lo that aclivity. Shared cosls which conliibule lo more than one aclivity and
support costs which are i)ol allributable lo a single activity are apportioned belweeii those aclivilies on a basis
consistent wilh the use of resources. Cenlral slaff cosls are allocated on the basis of lime spent, and
depreciation charges are allocated on the portion of the assel's use.
1.6 Tanglble flxed assets
Depreciation is recognised so as lo wrile off Iha cost OT valuation of assels less their residual values over Ihelf
useful lives on the following bases:
Leasehold improvements
Life boats
Flxlures and fitlings
Boalhouse contents
Vehicles
20
10%
10%
10%
10%
The gain or loss arising on the disposal of an asset is determined as Ihe difference belween the sale proceeds
and Ihe carrying value of the asset. and is recognised in Ihe slalemenl of financial activities,
1.7 stock8
Stocks are valued at the lower of cost and nel realisable value. after making due allowancg for obsolete and
slow moving items.
Net realisable value is the estimated selling price less all eslimated costs ol completion and cosls to be
incurred in markeling, selling and dislribulion.
1.8 Cash and cash equivalents
Cash and cash equivalenls include cash in hand, deposits held al call with banks. other short-term liquid
inveslments with original malurilies of three monlhs or less, and bank overdrafts. Bank overdrafls are shown
within borrowings in current liabilities.
1.9 Flnanclal Instruments
Tlie Charitable Coinpany has elected lo apply the provisions of Section 11 'Basic Financial Inslrumeiits, and
Seclion 12 '01her Financial Inslruments Issues. of FRS 102 to all of ils financial instrurnents.
Financial inslruments are recognised in the Charitable Company's balance sheel when the Charilable
Company becomes party lo the contractual provisions of Ihe inslrumenl.
Financial assets and liabilities are offsel. with the nel amounts presented in Ihe financial statements, when
there is a legally enforceable right to set off the recognised amounls and there is an intention lo seltle on a net
basis or lo realise Ihe assel and setlle the liabiliiy simullaneously.
10-

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountiiig pollcles
(Contiiiued)
Baslc finaijclal assets
Basic fiiiaiicial assets. which include debtors and cash and bank balances. are initially measured al
transaction price including Iiansaclioii costs and are subsequei)Ily carried al amortised cosl using the effective
inlei'esl melhod unless Ilie arrangemei)I conslilules a financing Iransaclion, where Ihe Iransaclioii Is
measured al Ihe present valiie of the fuluie receipts discounled at a maiket rate ol interest. Financial assets
classified as receivable within oiie year ale nol 2niortised.
Basic finaiicial liabililies
Basir liiiancial liabilities. including creditors and bank loans are initially recogiiised al transaction price uiiless
the arraiigeinenl conslilL)les a finaiicing Iransaclion, where the debl inslrumenl is Ineasured al the preseiil
value of Ihe future payfflenls discoiinled al a markel late of interest. Financial liabilities classified as payable
wilhiii one year are nol ainorlised.
Debl inslrumeiils are subseqiienlly carried al amortised cost. using the effective interest rale Inelhod.
Trade creditors are obligations lo pay for goods or services Ihal have been acquired in the oTdin3ry course of
operalions from suppliers. Amounls payable are classified as current liabilities if payinenl is due will)in oiie
year or less. If not, they are presei)led as noii-cuireiil liabilities. Trade crediloT5 are recognlsed initially al
Iraiisaclioii price and subsequently Ineasured at amortised c051 using Ilie effeclive iiileresl niell)od.
Derecogiillioii of liiiancial Ilabililies
Fiiic111cial liabilities are derecognised when Ihe Charitable Company's conlraclual obligations expire or are
discliaryed or caiicelled.
CiltScal accoiintlng estlmates and ludgeinenls
In Ihe appllcalion of Ihe Charitable Company's accouiiliiig policies, the IrLislees are required lo make
judgeiiienls. esliinales and assuinplions aboul the caiiying ainounl of assels and liabililies11)al are nol readily
apparent froin olher sources. Tlie eslimales and associated assuinplions are based on liislorical experieiice
and ollier factors Iliat are considered lo be relevant. Actual resulls may differ from these esliinales.
The eslimales and underlying assumptions are Teviewed on an ongoing basis. Revisions lo accouiiling
eslimales are recogiiised in the period in wliicli Ilie estimate is revised wlieie Ilie revision affects 01)ly 11)al
period, or in the period of the revisioii aiid future periods where Ihe revisioii affects both cuirei71 and lulure
periods.
Donatloiis and legacles
Unrestricted Uiirestrlcted
fuiids
funds
geiieral
geiieral
2024
2023
Doiialions and gilts
Legacies receivable
41,513
238,119
76,092
20,000
279,632
96,092
11

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from olher trading activittes
Unrestrlcted Unrestricted
funds
funds
2024
2023
Shop iiicome
Spoiisorships and social lotleries
248,108
62,406
228,107
61,Jf13
Other trading aclivilies
310,514
289,620
Income from Investments
Unrestrlcted Unrestricted
funds
funds
2024
2023
Income from unlisted inveslments
Interesl receivable
36
11,292
36
830
11.328
866
Other Income
Unrestrlcted Unrestrlcted
funds
funds
2024
2023
Nel gain on disposal of tangible fixed assets
7,500
Expenditure on ralslng funds
Unrestrlcled Unrestrlcted
funds
fuiids
2024
2023
Tradlng costs
Operaling charity shops
32,623
33,105
12-

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Expeiiditure oli charitable actlvltles
Offsliore
rescu
Offshore
rescu
2024
2023
Direct COSts
Deprecialion and impairment
Rates and water
Insiirance
Li(Jlit and lieal
Telephoiie and pagers
Poslagp. and slalionery
Sundries
Repairs and eqiiipmenl
Fiiel
Traiiiing
118,471
6,179
19,602
5,032
5.239
696
4,693
32,085
1,454
5,405
55,925
1,340
16,994
3,762
5,973
422
4,092
34.674
4,276
2,988
198,856
130,446
Sharo of support and goveri)aiice costs (see iiote 9)
Goveriiance
9,296
7,452
208,152
137,898
Aiialysl8 hy fiind
Unre.slricled lui)ds - general
Unreslricled funds - designated
89,681
118,471
137,898
208,152
137,898
Siipport Costs
Siipport Governaiice
coyts
costs
2024Support costs Governance
cosls
2023
Accountancy fees
Legal arid professional
1,260
8,036
1,260
8.036
1,200
6,252
1,200
6,252
9,296
9.296
7.452
7,452
Analysed between
Cliaiilable aclivilies
9,296
9,296
7,452
7.452
13-

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Net movement in funds
2024
2023
The nel movement in funds is staled afler chaTgingl(crediting)-
Fees payable for the independent examinalion of Ihe charily's financial
slalemenls
Deprecialion of owned tangible fixed assets
Lossl(profil) on disposal of tangible lixed assels
Loss on disposal of intangible assets
1.260
118.471
1,200
(7,500)
225
11 Trustees
None of the Irustees (01 any persons connected wilh them) received any remuneration or benefils from Ihe
ChaTilable Company during Ihe year.
There were no employees whose annual remuneralion was more than £60.000.
13 Other
Total Unrestrlcted
funds
general
2023
2024
Net loss on disposal of intangible fixed assets
225
225
14 Taxatlon
The charlty Is exempt from taxation on its aclivilies because all ils Income is applied for charitable purposes.
14-

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Tangible fixed assets
Leasèhold
Improveiiieiits
Llle boals Flxlures aiid
Boathouse
coiitenls
Velilclos
Total
Cost
Al 1 April 2023
Additions
2.214,686
303.077
174.534
16,566
77,532
7.860
353.595
35,175
2,965.456
217,569
At 31 March 2024
2,214,686
477,611
16,566
85.392
388,770 3,183,025
Dcproclation and
Imi)airineiit
Al 1 April 2023
Deprecialion charged in Ihe
year
246.114
12.965
62,157
206,991
528,227
44,000
34,152
657
2,365
37.297
118,471
Al 31 March 2024
44,000
280.266
13,622
64,522
244.288
646,698
CarryliiJ( aiiioiiiit
Al 31 Marcli 2024
2,170,686
197.345
2.944
20.870
144,482 2,536,327
At 31 March 2023
2,214,686
56,963
3,601
15.375
146,604 2.437,229
16 Slocks
2024
2023
Raw inalerials aiid consumables
886
883
17 Del)tors
2024
2023
Ainounts fallliig due wlthin one year:
011)er debloTS
19,961
24,875
18 Creditors: amoiints falling due withln one year
2024
2023
Trade credilors
Accruals and deferred income
456
1,510
1,152
1,450
1.966
2,602
15-

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Unrestricted funds - deslgnated
These are unreslricled funds which are material lo the Charilable Companvs activilies.
At 1 Aprll
2023
Resources
expended
Transfers At 31 March
2024
Designated - exislin9 fixed assels
Designated - equipmenl
2.437,229
250.000
(118,471)
217,569
2.536,327
250,000
2,687,229
(118,471)
217,569
2,786.327
Prevlous year:
At 1 Aprll
2022
Re50urce8
exp8nded
Transfèrs At 31 March
2023
2.685,681
1,548
2,687,229
20 Unrestrlcted funds
The unreslricled funds of the charily comprise the unexpended balances of donalions and grants which are
not siibject lo specific condilions by donors and granlors as to how Ihey may be used. These ii)cliide
designaled funds which have been sel aside out of unreslricled funds by the Iruslees for specific purposes.
At 1 Aprll
2023
li)coming
resouYce8
Resources
expei)ded
Transfers At 31 March
2024
Unreslricted
771,804
601.474
(122,304)
(217,569)
1,033,405
Prevlous year:
At 1 Aprll
2022
Incomlng Resources
resources
expei?ded
Transfers At 31 March
2023
General funds
550,502
394.078
(171,228)
(1,548)
771,804
550,502
394,078
(171.228)
(1,548)
771,804
16-

SOUTHPORT OFFSHORE RESCUE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20 Unrestricted funds
(Continued}
Trai)sfers between funds and fund balances
Tl7e Irai)sfer from Ihe general fund recognises Ihe movement in designated balances noted below.
The fixed assels designaled fund represents monies already spenl on fixed assets and equipment whicli are
shown on the balance sheel bul don't rellecl liquid resources.
The equipment replacement designaled fund Tepresents the nece5siIy lo upgrade and replace equipment and
vehicles to keep up wilh required slandards and codes of conduct
21 Aiialysls of i)et assets betwèeii fuiids
Unrestrlcted Unre8trlctod
funds
fuiids
geiioral deslgiiated
2024
2024
Total
2024
At 31 March 2024:
Triiigible assets
Cuirent asselsl{liabililies)
2,536,327
250,000
2,536,327
1,283,405
1,033,405
1,033,405
2,786.327
3,819,732
Unrestrlcted Unrestrlcted
luiids
fuiids
gei)e¥al desig11ated
2023
2023
Total
2023
At 31 March 2023:
Taiigible assets
Cuirenl asselsllliabililies)
2,437,229
250,000
2,437,229
1,021,804
771,804
771,804
2,687,229
3.4Jf9,033
22 Related party transacllons
There were no disclosable related party Iransaclions during Ihe year (2023 - none).
17-