## **GAFIRS**
(Limited by Guarantee)
## **Directors’ Annual Report**
and
## **Financial Accounts**
## **31[st] December 2023**
Company registration number: 01876307 Charity registration number: 1159681
1
## **GAFIRS**
(Limited by Guarantee)
## **Contents**
Year ended 31[st] December 2023
|Directors’annual report|Directors’annual report|Page|
|---|---|---|
|-|The Charity, trustees and professional advisors|3|
|-|Directors’ annual report on performance of charitable activities|4 - 16|
|Annual accounts|||
|-|Independent examiner’ report|17|
|-|Balance sheet|18|
|-|Income and expenditure account|20|
|-|Notes to the accounts|21 - 29|
2
**GAFIRS**
(Limited by Guarantee)
## **THE CHARITY, TRUSTEES AND PROFESSIONAL ADVISERS**
Year ended 31[st] December 2023
## **THE CHARITY**
Registered name : GAFIRS Legal status : Private company limited by guarantee Registered address : GAFIRS, Lifeboat Lane, Stokes Bay, Gosport, Hampshire, PO12 2TR Company registration : Registered in England and Wales, number 01876307 Charity registration : Registered in England and Wales, number 1159681 Telephone numbers : 023 9258 4017 Website : www.gafirs.org.uk E-mail : finance.director@gafirs.org.uk **NON-ELECTED OFFICERS** Patron : Surgeon Rear Admiral Lionel John Jarvis, CBE KStJ DL MB BS FRCR MRCS LRCP Joint Presidents : The Mayor of Gosport and the Mayor of Fareham Vice President : John Lee Non-Executive Director : Mark Round (Resigned 30[th] October 2023) Non-Executive Director : Benjamin Keith (Resigned 30[th] October 2023)
## **ELECTED DIRECTORS DURING YEAR**
Chair : Joanne Young Community Director : Thomas Clark Engineering Director : Edward Kersey Finance Director : Matthew Knight (Resigned 21[st] April 2023) : Owen Sargant (Appointed 21[st] April 2023) Operations Director : Andrew Barber Personnel Director : Kelly O’Neil (Appointed 21[st] April 2023) Secretary : Keith N Thomas
## **PROFESSIONAL ADVISERS**
Principal bankers : Barclays plc, 67/69 West St, Fareham, Hampshire, PO16 0AT Independent examiner : ALP Accountancy Ltd 19 Beaufort Close, Lee-On-The-Solent, Hampshire , PO13 8FN
3
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT**
Year ended 31[st] December 2023
The Directors submit their annual report and statement of accounts of GAFIRS (the Charity) as at and for the Year ending 31[st] December 2023 in compliance with the requirements of the Charity Commission.
## **SECTION 1 - OBJECTIVES AND ACTIVITIES**
Gosport and Fareham Inshore Rescue Service (GAFIRS) is a busy independent lifeboat service founded in 1969. GAFIRS operates a Lifeboat and Land Rover utility vehicle from its station at Lifeboat Lane, Stokes Bay, Gosport, and an Inshore Lifeboat from a berth in Gosport Premier Marina; these platforms enable its volunteer members to provide a Declared Facility emergency search and rescue capability for HM Coastguard covering Portsmouth Harbour and the eastern Solent. In addition to its search and rescue work, GAFIRS also provides free sea-safety education talks to local schools and youth groups and, through its cadet membership scheme, trains young people in lifesaving skills.
## **GAFIRS’ Purpose**
GAFIRS’ purpose (the objects of the charity as laid down in its Articles of Association) is:
_“The saving of lives primarily off the coast of Gosport and Fareham in the County of Hampshire by recruiting members and training them in life saving for the public benefit, and the advancement of education of the public in all aspects of water safety.”_
## **How we achieve our purpose**
The Directors have referred to the Charity Commission’s general guidance on public benefit and are satisfied that GAFIRS meets its charitable objects and delivers public benefit by providing:
- A Declared Facility lifeboat service within its operating area, eastwards from Titchfield Haven out to the centre of the Solent, covering the coastal waters of Hill Head, Lee-on-the-Solent, Browndown, Stokes Bay, Gilkicker, out to the Spithead Forts and the whole of Portsmouth Harbour and Fareham Creek. GAFIRS unpaid voluntary crew members are available on pager call-out for HM Coastguard all year round and in all weathers. On average GAFIRS responds to over 100 incidents a year, ranging from simple mechanical failures and groundings, to medical incidents, persons over board and other life-at-risk emergencies.
- First-aid assistance at medical incidents along Stokes Bay.
- Assistance to the local Fire, Ambulance and Police Services during emergency incidents.
- Sea-safety education talks to schools, youth and adult community groups in the Gosport, Fareham and the south Hampshire area.
- Training in lifesaving, canoe rescue and first-aid for young people aged 14 to 17 via its Cadet membership.
All GAFIRS search and rescue work and sea-safety education activity is done for the general public entirely free of charge and is paid for by charitable donations.
4
**GAFIRS**
(Limited by Guarantee)
**DIRECTORS’ ANNUAL REPORT** (Continued) Year ended 31[st] December 2023
## **SECTION 2 – ACHIEVEMENTS AND PERFORMANCE**
## **Summary for the year**
GAFIRS remained financially sound and operationally effective in 2023 and during the year:
- Responded to 117 incidents including marine emergencies and first-aid assistance ashore, with 107 incidents being HM Coastguard taskings.
- Actively promoted water safety by providing 36 sea-safety education talks to 753 local children with 127 teachers and leaders.
## **Search and rescue activity**
Our key search and rescue statistics for 2023 are:
- **117** incidents responded to, assisting **122** people, **1** of whom was life-at-risk.
- **107** of the incidents were HM Coastguard taskings.
- **42** of the Coastguard incidents were weekend duty day taskings with our crew on standby at our station or afloat on patrol and **65** were out-of-hours pager callouts ( **32** daytime, **14** evening and **19** night-time).
- For all **117** incidents, including shoreline first aid incidents close to the station, our average time from being alerted to in attendance was **18m 38s.**
- For the **107** HM Coastguard taskings our average time from being alerted to in attendance was **20m 23s.** (For our 42 duty day taskings the average was 11m 40s and for our 65 pager taskings it was 27m 37s).
- For the pager taskings our average time to launch from pager activation was **21m 35s** against our target of **25m** , with an average of **9** members (5 boat crew and 4 shore crew) responding to each incident.
- Gosport Lifeboat attended **101** incidents and Gosport Inshore Lifeboat attended **7.**
- Gosport Rescue Mobile (our Land Rover) and Shore Crew were used at **5** incidents.
- Our first-aid trained members, who include two paramedics, assisted at **8** medical incidents afloat and ashore.
5
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued)
Year ended 31[st] December 2023
- Incidents types:
- Persons in water or missing persons thought to have entered the water: **49** .
- Mechanical failures: **30** (including engine failure, electrical faults, steering failure and dismasting).
- Vessels aground: **5** .
- Medical afloat and ashore: **8** .
- Others: **25** (including investigating automatic distress signals and drifting or unresponsive vessels, assisting vessels taking on water and vessels on fire).
- Overall service availability for the year (a minimum of one boat declared available to HM Coastguard): **92.2%,** giving an average daily availability of **22 hours, 08 minutes** against our 24/7 commitment.
## **SAR taskings and incidents of note**
2023 was another above average year for us.
Following a quiet start to the year, with our first incident on 29[th] January and just three in February, we then had seven in March.
April was busy with 18 incidents, including five incidents over two days. One of our late April incidents was, sadly, the recovery of a deceased person.
Our SAR response rate increased further in May with 21 incidents, including four in one day, one of them to a life-at-risk person, followed by 17 incidents in June, five of them in three days.
The poor weather in July led to it being a quieter month for us than the previous year, with 15 incidents, including six in five days and three in one day.
The unseasonably cool, wet and windy weather continued into August, resulting in a reduction of racing during Cowes Week and us responding to just 12 incidents during the month, with three of them in one day.
September and October were near average months for us with 10 and 6 incidents respectively. One of the September incidents was a major search with other services over an extended period time for a missing swimmer, sadly the person could not be saved.
We finished the year quietly with 2 incidents in November and 5 in December.
The year has seen a continuation of a trend for us, which started during the COVID-19 lockdown periods, away from dealing with mechanical failures and more towards incidents with swimmers, kayakers, wind surfers, kite surfers and paddle boarders in difficulties. A sad, but notable feature of the year was that we were tasked to assist at 14 incidents involving distressed persons in the water or at risk of entering the water.
6
## **GAFIRS**
(Limited by Guarantee)
**DIRECTORS’ ANNUAL REPORT** (Continued) Year ended 31[st] December 2023
**This chart, taken from our D4H management system, shows the location of our 117 incidents in 2023.**
**These charts, taken from our D4H management system, shows the days of the week and time distribution of our 117 incidents in 2023 and illustrate the increased calls for assistance we receive at weekends.**
**These charts, taken from our D4H management system, show the months of the year distribution of our 135 incidents in 2022 (left above) and 117 incidents in 2023 (right above) and illustrate the impact of the poor weather in July and August on our usual pattern (as in 2022) of seasonal incidents.**
7
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued)
Year ended 31[st] December 2023
**Gosport Lifeboat refuelling at night after recovery from going afloat. Nineteen of our incidents in 2023 occurred between 21:30 in the evening and 07:30 in the morning.**
**Gosport Lifeboat recovering a capsized boat off the Isle of Wight.**
8
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued)
Year ended 31[st] December 2023
## **SECTION 3 – GAFIRS IN THE COMMUNITY**
Our sea-safety and community talks programme, in fulfilment of our objective to educate the public in water safety, was busy again this year and we provided 36 sea safety talks to 753 children and 127 teachers/leaders from local schools and youth groups. We also gave 7 community talks to 231 adults. The talks given to children focus on sea-safety, with the talks given to adults including coverage of the work of GAFIRS, the National Independent Lifeboat Association (NILA), the Solent Sea Rescue Organisation (SSRO) and HM Coastguard in sea-safety.
**2[nd] Fareham Sea Scout Squirrels visiting GAFIRS for a station tour and a talk about sea-safety.**
We expanded the scope of our community safety work this year by giving 6 first-aid talks to 45 local people.
Apart from running our own very successful New Year’s Day Dip and Emergency Services Day, we also attended fundraising events including the Hill Head Sailing Club Open Day, Gosport Marine Festival, Gosport Falcons End-of-Season Event, St Vincent Summer Fest, Fareham 999 Day, HMS Collingwood Open Day, English Heritage Fort Brockhurst Emergency Services Day, Grange School Fete, National Coastwatch Institution (NCI) Lee-on-the-Solent Open Day, GFM Bay House School Community Activities Day, HMS Sultan Families Day, Gosport Vehicle Rally and Alverstoke Michaelmas Fayre.
9
## **GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued)
Year ended 31[st] December 2023
**GAFIRS New Year’s Day Dip, 1[st] January 2023.**
We held our Emergency Services Day at our station again this year. This free public event is popular with local families and gives them a chance to meet the local “blue light services” who keep them safe. We thank Ramona UK, Hampshire Fire and Rescue Service, Gosport Police, Hampshire Constabulary Incident Unit, South Central Ambulance Service, HM Coastguard Hill Head Coastguard Rescue Team (CRT), Gosport NCI, Lee-on-the-Solent NCI and Service by Emergency Rider Volunteers (SERV) Wessex for their kind support.
**GAFIRS Emergency Services Day, 16[th] July 2023.**
10
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued) Year ended 31[st] December 2023
## **SECTION 4 – ACTIVITIES UNDERTAKEN TO ACHIEVE OUR PURPOSES AND OBJECTIVES**
To carry out our search and rescue work and provide sea-safety education talks, we need a boathouse as an operating base, lifeboats for use as rescue platforms, charitable funding from the public and volunteer members to deliver our services. These components are summarised below.
## **People**
All our Directors and members are unpaid volunteers who receive no remuneration or expenses for routine training, support or operational activities, including attendance at emergency call-outs. Our members may be reimbursed for expenditure incurred on exceptional actives, such as travelling outside the local area on GAFIRS business. Our 66 active members gave over 10,530 hours of service this year. Of these members, 47 are operational with 18 being qualified coxswains and boat crew. Our operational strength includes 5 trainee boat crew.
## **Platforms**
As part of our strategic management process to maintain our enduring capability and continuity of service, we conduct regular reviews of our boats and vehicles to ensure they remain fit for purpose and to enable us to plan for their timely replacement.
Both our boats, Gosport Lifeboat (the 9m RIB “Joan Dora Fuller”) and Gosport Inshore Lifeboat (the 4.8m RIB “Ian Fuller”) continued to operate well.
Gosport Rescue Tango, our Valtra boat launch and recovery tractor, which was beginning to require more substantial maintenance, was replaced with a John Deere model in September. The new machine, which is waterproofed to a higher standard than its predecessor, has proved to be reliable and effective.
## **Property**
Our station remains in good condition with routine maintenance this year including the replacement of the boat hall main doors.
## **Pounds**
Full details can be found in the Financial Review, below, produced by our Finance Director. Some key financial points to highlight are:
- We continued to be financially prudent and raised and spent our funds carefully.
- Our donations income and expenditure were both up this year but we remain financially sound.
- The value of our long-term investments, held for the future replacement of our lifeboats, has increased this year.
- Our Lifeboat Lotto, operated by the “Friends of GAFIRS”, was our primary source of income.
- We continue to received much kind support from the people of Gosport, Fareham and further afield and their generosity is deeply appreciated.
11
## **GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued) Year ended 31[st] December 2023
It is impossible to acknowledge here all our kind supporters, large and small, but we thank them all, including the following listed in alphabetic order:
Alison Mandrill Hardway, Elson and District Alverstoke Village Hardware Community Association Alverstoke WI Hardway Sailing Club Alver Valley Garden Centre Haslar Marina A M L Law, in memory Haslar Yacht Club Ann Beach, in memory of Patrick Hill Head Kitesurfers C Brown Isobella Ware Chieftain Training James Hulme, in memory Clare Payne Joan Short D Grimsdale Just Friends Group Daisy Homer Keith Aspland, in memory David Atkinson Lee-on-the-Solent National David, Gladys and Ian Channon Coastwatch Institution David Farrell Linday Nolan Deborah Blake Lord Nelson Lodge Deborah Fitzgeorge M Spencer D W Hewson M Tong Fareham Borough Council Margaret Wonham Fareham Sailing and Motorboat Club Marine Super Store Fleetlands Civil Service Retirement Mike and Anne Ford, The Worshipful, Club the Mayor of Fareham Friends of GAFIRS Lifeboat Lotto Mr and Mrs Clarke Gosport Borough Council Mrs C F Davis, in memory Gosport and District Angling Club Mr T J Davis, in memory Gosport Pool Arena Mr C F Dickinson Gosport Premier Marina Mr Hollinghurst, in memory GS Homes Mrs Howlet Hammond Drysuits Mrs S P Mahood Hampshire County Council Mrs J L Maidment
## Mrs J Mackness
Mrs M J Mattocks, in memory Mrs W A Phillips, in memory of John Martyn Mrs McRobbie Mrs Rawlinson Mr and Mrs Tucker Neptune Lodge Nomad Training Old House at Home Patrica Atkinson, in memory Phillip Hiscock Portsmouth and District Canoe Club Portsmouth Harbour Cruising Club Pyramid Trading Raymarine Solent Powerboat Club Southern Gas Network Stanmore Lake Angling Club Stubbington Stitch and Knit Group Suzanne Waller Tamar Lodge The Ancient Order of Foresters The Fighting Cocks Titchfield WI Ultra SML Village People WI Yateley Offshore Sailing Club YouBoat
All our search and rescue work and sea-safety talks are made possible by the generosity of our kind supporters and we are deeply grateful to them.
12
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued)
Year ended 31[st] December 2023
## **SECTION 5 – GAFIRS CONTINUOUS IMPROVEMENT**
In our report last year, we aimed to:
1. Continue to train, qualify and appoint addition boat crew.
2. Expand our sea-safety education delivery programme.
3. Expand our Cadet membership.
Against the above objectives we have:
1. Revised our boat crew training programme to enable training and assessment to be delivered and completed with greater flexibility, enabling an additional trainee to be included in the programme.
2. Commenced the delivery of basic first-aid training, with 6 first-aid talks given to 45 local people.
3. Recruited 2 additional Cadet members, increasing our strength from 14 to 16.
## **GAFIRS in 2024**
In the coming year we aim to:
1. Develop and improve our training processes to achieve the following aspirations:
- Increase our number of boat crew members.
- Increase our number of ILB Helms and Lifeboat Coxswains.
- Increase our number of shore crew and supporters such as fundraisers.
2. Expand the delivery of our recently introduced basic first-aid courses for the local community. 3. Increase our Cadet members’ involvement within the Service.
## **SECTION 6 – STRUCTURE, GOVERNANCE AND MANAGEMENT**
GAFIRS operates under Articles of Association as amended by special written resolutions on the 14th August 2014.
GAFIRS is managed by a Board of Directors which is responsible for the proper running of the Charity and its financial viability. The Board consists of the: Chairman, Secretary, Finance Director, Personnel Director, Engineering Director, Operations Director, Community Director and, optionally, two Non-Executive Directors. Each Director, other than the Non-Executive Directors who are appointed by the Board, is elected by the members of GAFIRS at an AGM for a term of two years.
The Directors are assisted in the day-to-day operation of the charity by appointed Health & Safety and Safeguarding Advisors and membership Working Groups.
13
**GAFIRS**
(Limited by Guarantee)
**DIRECTORS’ ANNUAL REPORT** (Continued) Year ended 31[st] December 2023
## **DISCHARGE OF GOVERNANCE DUTIES**
## **Supervision**
Our Articles of Association require the Board of Directors to meet at least 4 times each year with a quorum of 4 Directors. In 2023 our Board of Directors met 12 times, fully discharging the supervisory requirements placed on them by our Articles of Association.
## **Financial due diligence**
Our financial procedures, overseen by our Finance Director, will only authorise a purchase of £50.00 or more if a minimum of three quotes has been obtained, in which case the quote offering best value for money will be authorised, or if the order is placed with an agreed “Approved Supplier” previously established to give good value for money. All purchases must be approved by a vote taken by the Board of Directors or at a General Meeting except for the following devolved expenditure authorities:
The Operations Director may authorise:
Payments of regular service charges under contracts approved by the Finance Director. Payments up to £1,000 for items required to maintain rescue capability in accordance with agreed policy.
The Engineering Director may authorise:
Payments of regular service charges under contracts approved by the Finance Director. Payments of up to £1,000 for items required to maintain the availability of all vehicles, vessels, buildings and equipment in accordance with agreed policy.
The Community Director may authorise:
Equipment or services up to the value of £100 to facilitate the continuation of Community and Fund Raising activity in accordance with agreed policy.
The Personnel Director may authorise:
Payments of regular service charges under contracts approved by the Finance Director. Payments of up to £1,000 for items required for training purposes in accordance with agreed policy.
All Directors and Coxswains may authorise the purchase of fuel using the approved fuel cards or contracts.
Additionally, all major, long term or novel purchases, those which change our strategic capability or are over £10,000, together with major equipment disposals, must be endorsed by the Directors.
14
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued)
Year ended 31[st] December 2023
## **Risk management**
The duty of the Directors is to ensure the charity’s enduring financial and operational viability to maintain the availability of the Declared Facility lifeboat capability for HM Coastguard and the provision of sea-safety education for the local community. In meeting this objective, the Directors have identified three potential strategic risks to GAFIRS:
1. A long term decline in funding causes loss of Declared Facility status or independence. This risk is mitigated by maintaining a good relationship and high profile with the local population and regular attendance at fund raising and community events.
2. A long term decline in active/capable membership, including members in key leadership posts, causes loss of Declared Facility status or independence. This risk is mitigated by recruiting new members through publicity campaigns, community presentations/events and direct contact with interested visitors.
3. A major operational failure by GAFIRS leads to declining public support and causes loss of Declared Facility status or independence. This risk is mitigated by compliance with the Rescue Boat Code of Practice which ensures that our administration, planning, training, equipment, maintenance and operational procedures are sufficient to ensure the safety of our crew members, the public and casualties during our operational activity.
## **Formal complaints**
On 30[th] October 2023, letters of complaint were received from two members of the charity concerning one of the Directors. The Board of Directors reviewed the complaints, and the statements the Director gave in response to them, and agreed the complaints should be dismissed.
Subsequent to this review and findings by the Board, one letter of complaint was resolved. The second complainant then raised a further complaint relating to the response from the Director concerned and the way the Board had dealt with the matter. The Board reported this to the Charity Commission and with their endorsement, passed the matter to an external HR advisor for investigation and recommended actions for resolution.
The external HR advisor found that whilst the Director concerned had not acted incorrectly, the Board had not dealt with the matter in the correct way. The Board accepted the findings and recommendations of the advisor and has taken action to improve the charity’s complaints procedures and other policies.
## **SECTION 7 – RESERVES POLICY**
GAFIRS continues to remain financially sound with Funds being managed to cover future running costs and provide reserves for new and replacement equipment.
## **SECTION 8 – FINANCIAL REVIEW**
The total funds held by the Charity at the end of 2023 amounted to £973,708. This is split between our Fixed Assets (Life boats and Equipment) of £324,247 (depreciation not taken into account) and our Net Current Assets of £649,461 (including cash at bank of £246,710).
15
**GAFIRS**
(Limited by Guarantee)
## **DIRECTORS’ ANNUAL REPORT** (Continued)
Year ended 31[st] December 2023
The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements. The Charity achieved a deficit in general funds before transfers and gains on investments of £24,820.
## **SECTION 9 – SMALL COMPANY PROVISIONS**
The Directors’ Annual Report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **By order of the Board of Directors,**
Keith N Thomas 26[th] April 2024
**Stokes Bay, the home of Gosport and Fareham Inshore Rescue Service.**
16
The Board of Trustees GAFIRS Boat House Lifeboat Lane Alverstoke Gosport Hampshire PO12 2TR
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GAFIRS**
(Limited by Guarantee)
## **Charity no. 1159681 Company no. 01876307**
## **ON THE UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 December 2023**
I report to the charity trustees on my examination of the financial accounts (“the accounts”) of the Company for the Year ended 31 December 2023 which are set out on pages 18 to 29.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (who are also the directors of the Company 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 for this year under part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the 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 material matters have come to my attention in connection with the examination which give me cause to believe that the:
- accounting records were not kept in accordance with section 386 of the 2006 Act; or
- accounts did not accord with such records; or
- accounts do not comply with the relevant accounting requirements under section 386 of the 2006 Act other than the requirement that the accounts give a ‘true and fair view ‘which is not a matter considered as part of an independent examination.
- The accounts have not been prepared in accordance with the Charities SORP (FRS102) updated October 2019.
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.
ALP Accountancy Ltd,
- 19 Beaufort Close, Lee-on-the-Solent, PO13 8FN
Registered number: **01876307**
17
**GAFIRS**
(Limited by Guarantee)
## **BALANCE SHEET**
## **31 December 2023**
|Notes
**FIXED ASSETS**
Tangible assets
4
**CURRENT ASSETS**
Stocks
Debtors
5
Cash at bank and in hand
Short term investments
CREDITORS: Amounts falling due within one year
6
**NET CURRENT ASSETS**
**NET ASSETS**
**15**
**REPRESENTED BY:**
**ACCUMULATED FUNDS**
16
Unrestricted funds:
General funds
Designated funds
**TOTAL CHARITY FUNDS AT 31st December 2023**|**2023**
**324,247**
**16,129**
**10,645**
**246,710**
**378,950**
**652,434**
**-2,974**
**649,461**
**973,708**
**789,216**
**184,492**
**973,708**|2022
326,927|
|---|---|---|
|||15,453
1,930
285,000
347,000|
|||649,383
-618|
|||648,765|
|||975,692|
|||791,200
184,492|
|||975,692|
18
## **GAFIRS**
(Limited by Guarantee)
## **STATEMENTS OF THE TRUSTEES**
## **31 December 2023**
The Company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the Year ended 31 December 2023.
The members have not required the Company to obtain an audit of its financial accounts for the Year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
(a) ensuring that the Company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and,
(b) preparing financial accounts which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of the results of its charitable operations for each financial year in accordance with the requirements Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the Company.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 relating to small companies.
The financial accounts were approved by the Board of Trustees and authorised for issue on 26[th] April 2023 and signed on its behalf by:
Keith N Thomas
The notes on pages 21 - 29 form part of these accounts.
19
**GAFIRS**
(Limited by Guarantee)
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **(Incorporating an income and expenditure account)**
## **Year ended 31 December 2023**
|**Note**
**INCOME FROM:**
**Donations and legacies**
**7**
**Charitable activities**
**8**
**Other trading activities**
**9**
**Bank interest**
**Total income**
**EXPENDITURE ON:**
**Charitable activities**
**10**
**Raising funds**
**Other**
**11**
**Total expenditure**
**Net movement before**
**gains/**
**(losses) on investmnents**
**And transfers**
**Net gains/(losses)**
**on tangible assets**
**Net gains/(losses)**
**on investments**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
**Total funds brought**
**Forward**
**16**
**TOTAL FUNDS CARRIED FORWARD**|**2023**|**Total**
**funds**
**£**
73,367
4,292
33,109
1,598
**112,366**
132,618
1,319
3,249
**137,186**
-24,820
-9,115
31,950
**-1,985**
975,692
**973,708**|**2022**||
|---|---|---|---|---|
||**Unrestric-**
**Restrict-**
**ted funds**
**ed funds**
**£**
**£**
73,367
4,292
33,109
1,598
**112,366**
132,618
1,319
3,249
**137,186**
-24,820
-9,115
31,950
**-1,985**
975,692
**973,708**||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
41,080
5,390
39,511
573
**86,554**
125,814
416
2,951
**129,181**
-42,627
0
-66,845
**-109,472**
1,085,164
**975,692**|**Total**
**funds**|
|||||**£**
41,080
5,390
39,511
573|
|||||**86,554**
125,814
416
2,951|
|||||**129,181**|
|||||-42,627
0
-66,845|
|||||**-109,472**|
|||||1,085,164|
||||||
|||||**975,692**|
20
**GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## **NOTE 1 - LEGAL STATUS OF GAFIRS**
The Charity is a company limited by guarantee and not having a share capital and is a charity registered under the Charities Act 2011.
## **NOTE 2 - ACCOUNTING POLICIES**
## **(A) Accounting framework**
The financial accounts have been set out in accordance with the accounting framework required under the:
- Companies Act 2006 relating to small companies; and,
- Statement of Recommended Practice applicable to charities preparing accounts in accordance with FRS 102 (SORP FRS 102 updated October 2019).
There were no material departures from these standards.
## **(B) Basis and content of the financial accounts**
The accounts have been prepared on the basis of historical cost and the accruals concept to show a true and fair view of the Charity’s financial position and activities.
The accounts are expressed in pounds Sterling, rounded to the nearest pound and include all the assets and liabilities under the control of the Trustees of GAFIRS.
## **(C) Going concern**
The Trustees acknowledge that the Charity’s continuing activity is dependent upon receiving a substantial proportion of total income from the Lifeboat Lottery. The Charity has maintained a 2-year reserve to fund continuing activities and allow time for other sources of income to be sought should income cease.
Based on the information available and the monetary assets and human resources available at 31 December 2023, the Trustees believe that the Charity is a going concern and will remain so for a period of at least one year from the date of this report.
## **(D) Tangible fixed assets and depreciation**
## Buildings, fixtures and fittings
Contains costs relating to the initial and subsequent building works performed for the construction and outfitting of The Lifeboat Station. This building is situated on land leased from Gosport Borough Council at a peppercorn rate.
These costs are depreciated over the shorter of the estimated useful economic life of the assets and the lease term.
## Other tangible fixed assets
All other tangible fixed assets which can be used for more than one year are capitalised at cost. Quickly perishable assets are charged to the SOFA as incurred. Depreciation is calculated to write off these assets over their estimated useful economic lives on a 10% reducing balance basis.
21
**GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## NOTE 2 - ACCOUNTING POLICIES (continued)
## **(E) Debtors**
Debtors are stated at the amounts due to the Charity at the balance sheet date. Prepayments are recorded for the proportion of time-based expenditures attributable to the ensuing year.
## **(F) Cash and cash equivalents**
This caption represents the amounts held in bank current accounts and cash at the balance sheet date together with bank deposits on less than 90 days’ notice at the balance sheet date.
## **(G) Liabilities**
Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not to occur under a legal or constructive obligation committing the Charity to pay out resources. Creditors that are current liabilities are recognised at the settlement amount expected to be paid at the balance sheet date.
## **(H) Funds**
Grants and donations received for non-specific purposes or general funding are available for utilisation at the discretion of the Trustees and are dealt with through the General Fund.
Certain designated funds have been created by the Trustees to ring-fence resources that are not considered to be readily expendable. See Note 3.
Grants, donations and legacies received for specific projects are treated as restricted funds for use only in connection with the specified purposes as imposed by the donor or trust deed. Deficits on restricted funds are carried forward to the extent that the Trustees are satisfied that future funding will cover such deficits on a last-in-first-out basis.
## **(I)Income recognition**
Income is brought into account when it is more likely than not that the economic benefit will accrue to the Charity.
## **Grants and donations**
Grants and donations (including government grants) received without pre-conditions attached are recognised on receipt. Gifts subject to performance-related or other conditions are recognised when such conditions are fulfilled and all the donors associated requirements concerning them have been complied with.
22
**GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## **NOTE 2 - ACCOUNTING POLICIES (continued)**
## **(I)Income recognition**
## **Gift Aid**
Tax refunds receivable under gift aid arrangements are recognised by reference to the date of the related gift. Gift aid recoverable on donations to trust and special funds is included in the fund to which the gifts relate.
## **Legacies**
Incoming resources from legacies are recognised when there is reasonable certainty that the legacy will be received and the value can be reliably measured.
## **Investment income**
Interest receivable and gains on investments are recognised in the year in which it is earned.
## **Gifts in kind and intangible income**
Gifts of tangible fixed assets for the Charity's use are recognised as incoming resources on the basis of their actual or estimated value, including VAT where appropriate, at the time the gift is made.
The value of volunteer time is not recognised in the financial statements since there is no measurable cost for their services.
Donated services are recognised as incoming resources insofar as another party is bearing the financial cost of the resources supplied and the benefit is quantifiable and measurable. An equivalent cost is recorded under the appropriate expenditure caption in the Statement of Financial Activities.
## **Other income**
Individual amounts classified as other income are disclosed separately if they are considered to be material.
## **(J)Expenditure**
Expenditure is recognised when a liability is incurred or a constructive obligation arises that results in payment being unavoidable or a commitment to pay that is intended to be acted upon.
## **(k)Value added tax (VAT)**
The Charity is not registered for VAT but does claim a refund of VAT as a Qualifying Charity under sections 33C and 33D of the VAT Act 1994. Any input VAT refunded is allocated against the expense to which it relates. An amount for VAT refundable is included within debtors.
23
**GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## **NOTE 2 - ACCOUNTING POLICIES (continued)**
## **(l)Allocation and analysis of charitable support and administrative charges**
All central costs for charitable support and administration are met from general funds.
## **(M)Corporation tax**
The Charity is exempted by HM Revenue & Customs from liability to corporation tax on its operating surpluses and investment income whilst it pursues its charitable objectives.
## **(N)Stock**
Stock is recognised for the value of medical supplies which will be used by the charity in providing its services to the public. Stock is valued at the lower of cost and net realisable value.
## **Note 3 –NATURE AND PURPOSE OF FUNDS**
## **Designated funds**
Funds have been designated by the Trustees to ring-fence resources to meet the identified needs and risks to which the Charity is susceptible. The only designated fund is the general improvements fund which is used to maintain buildings, and purchase as well as maintain equipment held by the Charity.
## **Restricted funds**
The Charity has no restricted funds
## **NOTE 4 – TANGIBLE FIXED ASSETS**
Year ended 31 December 2023
|**Buildings,**
**fixtures &**
**fittings **
**£**
**Cost or valuation**
Balance at 1 January 2023
332,599
Additions in the year
Disposal in the year
Balance at 31 December 2023
332,599
**Depreciation and impairments**
Balance at 1 January 2023
262,554
Charge for year
7,005
Disposal in the year
Balance at 31 December 2023
269,559
**Net book value**
At 31 December 2023
**63,040**|**Lifeboats**
**&**
**equipment**
**£**
457,753
457,753
253,126
20,463
273,589
**184,164**|**Carriages**
**£**
27,727
27,727
25,186
254
25,440
**2,287**|**Vehicles**
**£**
55,804
59,185
-55,804
59,185
29,967
7,641
-31,689
5,919
**53,266**|**Lifeguard**
**canoes &**
**equipment**
**£**
33,653
33,653
14,829
1,882
16,711
**16,942**|**Tools &**
**office**
**equipment**
**£**
13,126
13,126
8,073
505
8,578
**4,548**|**Total**|
|---|---|---|---|---|---|---|
|||||||**£**
920,662
59,185
-55,804|
|||||||924,043|
|||||||593,735
37,750
-31,689|
|||||||599,796|
||||||||
|||||||**324,247**|
24
**GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## **NOTE 4 – TANGIBLE FIXED ASSETS**
Year ended 31 December 2022 (continued)
|**Buildings,**
**fixtures &**
**fittings **
**£**
**Cost or valuation**
Balance at 1 January 2022
332,599
Additions in the year
Disposal in the year
Balance at 31 December 2022
332,599
**Depreciation and impairments**
Balance at 1 January 2022
254,771
Charge for year
7,783
Disposal in the year
Balance at 31 December 2022
262,554
**Net book value**
At 31 December 2022
**70,045**|**Lifeboats**
**&**
**equipment**
**£**
457,753
457,753
230,390
22,736
253,126
**204,627**|**Carriages**
**£**
27,727
27,727
24,904
282
25,186
**2,541**|**Vehicles**
**£**
55,804
55,804
27,096
2,871
29,967
**25,837**|**Lifeguard**
**canoes &**
**equipment**
**£**
33,653
33,653
12,737
2,092
14,829
**18,824**|**Tools &**
**office**
**equipment**
**£**
13,126
13,126
7,511
562
8,073
**5,053**|**Total**|
|---|---|---|---|---|---|---|
|||||||**£**
920,662|
|||||||920,662|
|||||||557,409
36,326|
|||||||593,735|
||||||||
|||||||**326,927**|
|**NOTE 5 – DEBTORS**
**Gift aid recoverable**
**Fuel duty recoverable**
**VAT refundable**
**Prepayments**|**2023**
**£**
966
1,121
8,558
-
**10,645**|**2022**|
|---|---|---|
|||**£**
1,324
1,909
-1,303
-|
|||**1,930**|
|**NOTE 6 – CREDITORS:**Amounts falling due within one year
**Trade creditors**
**Accrued charges**|**2023**
**£**
2,974
-
**2,974**|**2022**|
|---|---|---|
|||**£**
618
-|
|||**618**|
25
## **GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## **NOTE 7 – DONATIONS AND LEGACIES**
|**NOTE 7 – DONATIONS AND LEGACIES**|||||
|---|---|---|---|---|
|**Donations**
**Grants**|**2023**|**Total**
**funds**
**£**
73,367
**73,367**|**2022**||
||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
73,367
**73,367**||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
41,080
**41,080**|**Total**
**funds**|
|||||**£**
41,080|
|||||**41,080**|
## **NOTE 8 – INCOME FROM CHARITABLE ACTIVITIES**
|**Membership**
**Swimming pool**
**Sales**|**2023**|**Total**
**funds**
**£**
1,461
2,732
99
**4,292**|**2022**||
|---|---|---|---|---|
||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
1,461
2,732
99
**4,292**||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
1,536
3,043
811
**5,390**|**Total**
**funds**|
|||||**£**
1,536
3,043
811|
|||||**5,390**|
## **NOTE 9 – INCOME FROM OTHER TRADING ACTIVITIES**
|**Fundraising**
**Lottery**|**2023**|**Total**
**funds**
**£**
108
33,001
**33,109**|**2022**||
|---|---|---|---|---|
||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
108
33,001
**33,109**||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
2,545
36,966
**39,511**|**Total**
**funds**|
|||||**£**
2,545
36,966|
|||||**39,511**|
26
## **GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
**NOTE 10 – EXPENDITURE ON CHARITABLE ACTIVITIES**
|**Swimming pool hire**
**Medical equipment**
**Medical equipment stock**
**Adjustment**
**Equipment repair and**
**maintenance and running**
**Vehicle repair and**
**maintenance**
**Vehicle fuel**
**Building repairs**
**Building rent and utilities**
**Insurance**
**Waste disposal**
**Light and heat**
**Computer consumables**
**and software**
**Website**
**Printing, postage**
**and stationery**
**Telephone and internet**
**Other equipment expensed**
**Uniform**
**Training**
**Depreciation**||**2023**
**Total**
**funds**
**£**
3,006
7,437
-676
40,470
910
8,581
18,084
5,492
3,097
-433
-495
108
314
1,125
1,664
-301
6,217
270
37,750
**132,618**|**2022**||
|---|---|---|---|---|
||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
3,006
7,437
-676
40,470
910
8,581
18,084
5,492
3,097
-433
-495
108
314
1,125
1,664
-301
6,217
270
37,750
**132,618**||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
2,779
9,494
-4,453
34,185
3,636
9,319
15,349
4,725
2,747
0
498
8
2,096
1,852
3,307
2,760
1,186
36,326
**125,814**|**Total**
**funds**|
|||||**£**
2,779
9,494
-4,453
34,185
3,636
9,319
15,349
4,725
2,747
0
498
8
2,096
1,852
3,307
2,760
1,186
36,326|
|||||**125,814**|
## **NOTE 11 – OTHER EXPENDITURE**
|**NOTE 11 – OTHER EXPENDITURE**|||||
|---|---|---|---|---|
|**Bank charges**
**Independent examiner’s fee**
**Legal fees**
**Consultancy fees**
**Rent**
**Miscellaneous**|**2023**|**Total**
**funds**
**£**
321
-288
1,422
1,924
0
-129
**3,249**|**2022**||
||**Unrestric-**
**Restrict-**
**ted funds**
**ed**
**funds**
**£**
**£**
321
-288
1,422
1,924
0
-129
**3,249**||**Unrestric-**
**Restrict-**
**ted funds**
**ed funds**
**£**
**£**
261
0
2,458
0
0
232
**2,951**|**Total**
**funds**|
|||||**£**
261
0
2,458
0
0
232|
|||||**2,951**|
27
**GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## **NOTE 12 - STAFF COSTS**
Average number of persons employed under contracts of service during the year was: nil (2021: nil).
## **NOTE 13 - RELATED PARTY TRANSACTIONS**
The Charity did not engage in any transactions with related parties during the year.
## **Note 14 - TRUSTEES REMUNERATION AND EXPENSES**
No trustees, nor anyone connected with them, received any remuneration in connection with their services as trustees of the Charity during the year.
No trustee expenses were incurred.
The Trustees control and manage the Charity and make all strategic decisions in relation to its activities.
**NOTE 15 – ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**NOTE 15 – ANALYSIS OF NET ASSETS BETWEEN**|**FUNDS**||||
|---|---|---|---|---|
|**Unrestricted**
General fund
Designated funds:
General improvements|**2023**|
**net**
**assets**
**£**
789,215
184,492
**973,707**|**2022**||
||**Fixed**
**Current**
**assets**
**assets**
**£**
**£**
324,247
464,968
184,492
0||**Fixed**
**Current**
**assets**
**assets**
**£**
**£**
326,927
464,273
184,492
0|
**net**
**assets**
**£**
791,200
184,492|
||**508,739**
**464,968**||**511,419**
**464,273**|**975,692**|
**NOTE 16 – ACCUMULATED FUNDS Movement in Year ended 31 December 2023**
|**Unrestricted**
General fund
Designated funds:
General improvements|**Balance**
**brought**
**forward**
**£**
791,200
184,492
**975,692**|**Incoming**
**resources**
**£**
112,366
**112,366**|**Resources**
**expended**
**£**
-137,186
**-137,186**|**Transfers**
**£**|**Gains**
**And**
**losses**
**£**
22,835
**22,835**|**Balance**
**carried**
**forward**|
|---|---|---|---|---|---|---|
|||||||**£**
789,215|
|||||||184,492|
||||||||
|||||||**973,707**|
28
## **GAFIRS**
(Limited by Guarantee)
## **NOTES TO THE ACCOUNTS**
## **Year ended 31 December 2023**
## **Movement in Year ended 31 December 2022**
|**Unrestricted**
General fund
Designated funds:
General improvements|**Balance**
**brought**
**forward**
**£**
900,672
184,492
**1,085,164**|**Incoming**
**resources**
**£**
86,554
0
**86,554**|**Resources**
**expended**
**£**
-129,181
**-129,181**|**Transfers**
**£**|**Gains**
**And**
**losses**
**£**
-66,845
**-66,845**|**Balance**
**carried**
**forward**|
|---|---|---|---|---|---|---|
|||||||**£**
791,200|
|||||||184,492|
||||||||
|||||||**975,692**|
29