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2022-01-14-accounts

Hornsea Inshore Rescue

Charity No. 1154954

Company No. 07193145

Trustees' Report and Unaudited Accounts

14 January 2022

Hornsea Inshore Rescue Contents

Pages
Trustees' Annual Report 2
Independent Examiner's Report 6
Statement of Financial Activities 7
Summary Income and Expenditure Account 8
Balance Sheet 9
Notes to the Accounts 10
Detailed Statement of Financial Activities 16 to 20

Page 1

Hornsea Inshore Rescue Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 14 January 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 07193145

Charity No. 1154954

Principal Office

The Boathouse Hornsea Burton Road Hornsea East Yorkshire HU18 1TJ

Registered Office

The Boathouse Hornsea Burton Road Hornsea East Yorkshire HU18 1TJ

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

S. Hall

S. Hickson-Marsay

P.I. Jebson J. Pugh J.K. Pugh K. Shannon N. Smales R. Sumner (Resigned 5 February 2021)

Accountants

MPH Accountancy Rear of 9a Westgate Patrington East Yorkshire HU12 0NA

Bankers

HSBC Bank 1 King Street

Page 2

Hornsea Inshore Rescue Trustees Annual Report

Bridlington East Yorkshire YO15 2DL

Solicitors

Gosschalks

Queens Gardens Hull HU1 3DZ

OBJECTIVES AND ACTIVITIES

The objects of the charity are to preserve and save life by the provision and maintenance of an inshore

rescue service along and off the coast of the East Riding of Yorkshire and by the promotion to the public of all aspects of water safety.

The main activity of the charity is to fund an independent lifeboat station with a suitable lifeboat in Hornsea, for providing emergency aid to those on the sea and shoreline along the East Yorkshire coast. The service is for the benefit of the general public residing or visiting the East Yorkshire area.

The charity also operates an education centre promoting water safety and awareness of the coastal environment.

Generally the charity supports itself by holding fund-raising events and collecting donations from the general public. Additionally talks and tours of the boathouse are given to local groups and organisations. In doing so the charity hopes to engender support in the future either by donations or by promoting the services and activities on offer.

The charity also combines fundraising with delivery of its charitable objects through its Sea Education Centre for the training of adults and school children.

ACHIEVEMENTS AND PERFORMANCE

The trustees have due regard to the guidance provided by the Charities Commission on the public benefit and consider the need for the services outlined above are not only required, but are also greatly valued in the area by residents and visitors to the East Yorkshire coast. The skilled crew work with the Coastguard and received several call outs during the year, resulting in the saving of over twenty lives. Without the lifeboat station in Hornsea, aid would need to be called from much further afield, from lifeboats that would lose valuable time in attending emergency calls. Accordingly the trustees are satisfied they have complied with the requirements of Section 17 (5) Charities Act 2011 with regards to public benefit.

The lifeboat crew have been busier than ever during the year with numerous call outs since the last AGM. Saving many lives with a variety of incidents. From broken down boats to searches for missing persons, children blown out to sea on inflatables, to, sadly, persons in the sea with mental health issues and attempted suicides. The crew are highly trained and give up many hours of their time which includes attending essential courses to meet the standards required of a crew person.

FINANCIAL REVIEW

Page 3

Hornsea Inshore Rescue

Trustees Annual Report

The Trustees acknowledge the requirement to have a policy on reserves although presently no such policy exists as all income is required to meet day to day operational needs. The Trustees believe the investement in the Sea Safe Education Centre will put the charity in a stronger position to attract greater income in the future through the provision of training services and by receiving more donations from an enahnced profile. At that point a reserves target will be established and funds begun to be set aside to meet it.

It costs around £55,000 a year to run the organisation with the maintenance of tractors being one of the biggest outgoings along with insurance, fuel and equipment maintenance. It is now in a better financial situation thanks to many individuals and organisations raising hundreds of pounds. Some have raised thousands. The charity has been adopted by a wonderful group ‘HILS’ (Hornsea Inshore Lifeboat Supporters) and the Hornsea Mermaids. They are working all year round raising money in a variety of ways. The support from the local community, as always, has been phenomenal. This year’s new year’s day’s swim was a great success with people coming from all over the country to participate.

A successful grant application hosted by Grantscape was completed by one of the coxswains, Steve Hall brought in £8000.00. This enabled the purchase of a back up support tractor.

Collection cans bring in thousands of pounds every year. Although in an ever-increasing cashless society this has impacted on the charity. Hornsea Boat Launch made just over £30,000.00 for Hornsea Rescue. This charity has also received 2 legacies, one for £44,000.00 and one for £10,000.00.

PLANS FOR FUTURE PERIODS

The charity are continually looking at new areas in which emergency aid can be provided in East Yorkshire and further afield and since 2015 the charity have trained and equipped a team to provide emergency flood response services for use as required. The Trustees of Hornsea Rescue continue to review the requirements for the charity to grown in strength as an indespensable emergency service for the East Coast. The Charity is confident that it will continue to grow from strength to strength in the coming years to not only secure a modern and practical lifeboat station but also a centre of excellence in sea safety and flood response and management.

The charity is hoping to develop the rooftop at the boat launch into a usable roof terrace at Boat Launch has been working away on this with a super gentlemen called Anthony Marjerison, who is a structural engineer and has worked relentlessly providing technical information and images of the of the proposed building along with architect Fahed Mohammed. So far, all being provided free of charge. Developing the rooftop will provide the charity with a wonderful panoramic view of the surrounding coastline. General day to day use of the terrace is expanding at the current coffee shop and seating areas and this development would provide a well known location that will inevitably lead to additional usage. Additional jobs and roles will also be created. Relationships with local education establishments will be enhanced using the rooftop to deliver educational programmes. The addition of the rooftop terrace will improve the footfall in the southern area of the promenade. Furthermore, it will increase awareness of the boat launch and our lifeboat station and visitor’s centre. In summary, the benefits to the local community would be profound to Hornsea, with a secondary benefit of raising additional funding for Hornsea Inshore Rescue. Of course, we need the support of East Riding Council and funding.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is controlled by it's Memorandum and Articles of Association that constitutes an Incorporated Charity.

Page 4

Hornsea Inshore Rescue Trustees Annual Report

Since 2015, the Executive Committee has researched and initiated new policies regarding the appointment of new committee members and is receiving specialist guidance in this area. Likely candidates are now required to attend no less than four executive committee meetings as consultants, without voting rights, before being invited to join the committee . All committee members are now receiving training in their obligations, rights and responsibilities as charity trustees and new committee will go through similar training as part of their induction process.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

S. Hickson-Marsay Trustee 30 August 2022

Page 5

Hornsea Inshore Rescue Independent Examiners Report

Independent Examiner's Report to the trustees of Hornsea Inshore Rescue

I report to the charity trustees on my examination of the financial statements of Hornsea Inshore Rescue for the period ended 14 January 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity 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 financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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 financial statements to be reached.

Shannon Smith MAAT ACCA MPH Accountancy Rear of 9a Westgate Patrington East Yorkshire HU12 0NA 30 August 2022

Page 6

Hornsea Inshore Rescue Statement of Financial Activities

for the period ended 14 January 2022

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other
6
Total
Expenditure on:
Raising funds
7
Charitable activities
8
Other
9
Total
Net gains on investments
Net income
10
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds carried forward
Unrestricted
funds
2022
£
36,117
700
48,738
16,761
Total funds
2022
£
36,117
700
48,738
16,761
Total funds
2020
£
-
-
-
-
102,316
388
531
74,709
102,316
388
531
74,709
-
-
-
-
75,628
-
75,628
-
-
-
26,688
337,381
26,688
337,381
-
-
364,069 364,069 -
364,069 364,069 -
364,069 364,069 -

Page 7

Hornsea Inshore Rescue Summary Income and Expenditure Account for the period ended 14 January 2022

Income
Gross income for the period
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the period
Net income before tax for the period
Net income for the period
2022
£
102,316
102,316
49,720
25,908
75,628
26,688
26,688
2020
£
-
-
-
-
-
-
-

Page 8

Hornsea Inshore Rescue Balance Sheet

at 14 January 2022

Company No.
07193145
Notes
2022
£
Fixed assets
Tangible assets
12
306,120
Investments
13
10
306,130
Current assets
Debtors
14
2,963
Cash at bank and in hand
74,742
77,705
Creditors:Amount falling due within one year
15
(19,766)
Net current assets
57,939
Total assets less current liabilities
364,069
Net assets excluding pension asset or liability
364,069
Total net assets
364,069
The funds of the charity
Restricted funds
16
Unrestricted funds
16
General funds
364,069
364,069
Reserves
16
Total funds
364,069
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the period ended 14 January 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 August 2022

And signed on its behalf by:

P.I. Jebson Trustee 30 August 2022

Page 9

Hornsea Inshore Rescue Notes to the Accounts

for the period ended 14 January 2022

Basis of preparation

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

Hornsea Inshore Rescue Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Leasehold property 4% Straight line
Fixtures and fittings 20% Straight line
Motor vehicles 10% Straight line
Equipment for boat and crew 20% Straight line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 11

Hornsea Inshore Rescue Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 12

Hornsea Inshore Rescue Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Income from donations and legacies

3
Income from donations and legacies
4
Income from charitable activities
RYA income
5
Income from other trading activities
Fish and chips
Rent of boathouse
Income from fundraising
6
Other income
Grants received
7
Expenditure on raising funds
Fundraising trading costs
Fish and chips
Unrestricted
£
36,117
36,117
Unrestricted
£
700
700
Unrestricted
£
1,081
1,110
46,547
48,738
Unrestricted
£
16,761
16,761
Total
2022
£
36,117
36,117
Total
2022
£
700
700
Total
2022
£
1,081
1,110
46,547
48,738
Total
2022
£
16,761
16,761
Total
2020
£
-
-
Total
2020
£
-
-
Total
2020
£
-
-
-
-
Total
2020
£
-
-
Unrestricted
£
388
388
Total
2022
£
388
388
Total
2020
£
-
-

Page 13

Hornsea Inshore Rescue Notes to the Accounts

8 Expenditure on charitable activities

Expenditure on charitable
activities
RYA income
Governance costs
9
Other expenditure
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
10 Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
11 Staff costs
No employee received emoluments in excess
12 Tangible fixed assets
Land and
buildings
£
Cost or revaluation
Additions
151,341
At 14 January 2022
151,341
Depreciation and
impairment
Depreciation charge for the
year
6,053
At 14 January 2022
6,053
Net book values
At 14 January 2022
145,288
of £60,000.
Fixtures and
fittings
£
16,032
16,032
3,206
3,206
12,826
Unrestricted
£
531
531
Unrestricted
£
4,235
4,712
2,343
25,908
37,511
74,709
2022
£
25,908
Motor
vehicles
£
162,641
162,641
16,246
16,246
146,395
Total
2022
£
531
531
Total
2022
£
4,235
4,712
2,343
25,908
37,511
74,709
Equipment
for boat and
crew
£
2,014
2,014
403
403
1,611
Total
2020
£
-
-
Total
2020
£
-
-
-
-
-
-
2020
£
-
Total
£
332,028
332,028
25,908
25,908
306,120

Page 14

Hornsea Inshore Rescue Notes to the Accounts

13 Investments

13 Investments
Cost or revaluation
Additions
At 14 January 2022
Net book values
At 14 January 2022
14 Debtors
Trade debtors
Prepayments and accrued income
15 Creditors:
amounts falling due within one year
Trade creditors
Other creditors
Accruals
16 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Total funds
17 Analysis of net assets between funds
Fixed assets
Investments
Net current assets
Incoming
resources
(including
other
gains/losses)
£
102,316
102,316
2022
£
1,486
1,477
2,963
2022
£
7,677
9,969
2,120
19,766
Resources
expended
£
(75,628)
(75,628)
Other
investments
- Unlisted
£
10
10
10
Gross
transfers
£
337,381
337,381
Unrestricted
funds
£
306,120
10
57,939
364,069
Total
£
10
10
10
2020
£
-
-
-
2020
£
-
-
-
-
At 14
January
2022
£
364,069
364,069
Total
£
306,120
10
57,939
364,069

Page 15

Hornsea Inshore Rescue Notes to the Accounts

18 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt
Cash flows
£
At 14
January
2022
£
74,742 74,742
74,742
74,742
74,742
74,742

19 Related party disclosures Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 16

Hornsea Inshore Rescue Detailed Statement of Financial Activities

for the period ended 14 January 2022

Income and endowments from:
Donations and legacies
Charitable activities
RYA income
Other trading activities
Fish and chips
Rent of boathouse
Income from fundraising
Other
Grants received
Total income and endowments
Expenditure on:
Costs of other trading activities
Fish and chips
Total of expenditure on raising funds
Charitable activities
RYA income
Total of expenditure on charitable activities
Employee costs
Staff training
Staff welfare
Motor and travel costs
Vehicles - General costs
Travel and subsistence
Premises costs
Rates
Light, heat and power
Unrestri
cted
funds
2022
£
36,117
36,117
700
700
1,081
1,110
46,547
48,738
16,761
16,761
102,316
388
388
388
531
531
531
2,803
1,432
4,235
4,703
9
4,712
424
1,600
Total
funds
2022
£
36,117
36,117
700
700
1,081
1,110
46,547
48,738
16,761
16,761
102,316
388
388
388
531
531
531
2,803
1,432
4,235
4,703
9
4,712
424
1,600
Total
funds
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Page 17

Hornsea Inshore Rescue Detailed Statement of Financial Activities

Premises repairs and maintenance

Premises repairs and maintenance
General administrative costs, including
depreciation and amortisation
Depreciation of land and buildings
Depreciation of Fixtures and fittings
Depreciation of Motor vehicles
Depreciation of Equipment for boat and crew
Bank charges
Equipment repairs and maintenance
General insurances
Postage and couriers
Software, IT support and related costs
Stationery and printing
Sundry expenses
Telephone, fax and broadband
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Transfers between funds
Net income before other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
319
2,343
6,053
3,206
16,246
403
32
27,374
6,022
36
1,485
528
517
1,517
63,419
74,709
75,628
-
26,688
337,381
364,069
-
364,069
-
364,069
319
2,343
6,053
3,206
16,246
403
32
27,374
6,022
36
1,485
528
517
1,517
63,419
74,709
75,628
-
26,688
337,381
364,069
-
364,069
-
364,069
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Page 18