## GAFIRS (Limited by Guarantee) Trustees’ Annual Report and Financial Accounts 31[st] December 2025 Company registration number: 01876307 Charity registration number: 1159681 ## **GAFIRS Company Limited by Guarantee** |**_______________________________________________________________________________________**|**_______________________________________________________________________________________**| |---|---| |Contents|| |Year ended 31stDecember 2025|| ||Page| |The Charity, trustees, and professional advisors|2| |Trustees’ annual report|3| |Independent examiner’s report|13| |Financial accounts:|| |- Balance sheet|14| |- Statement of Financial Actvites|16| |(incorporatng an income and expenditure account)|| |- Notes to the accounts|17 – 24| 2 **GAFIRS Company Limited by Guarantee** **_______________________________________________________________________________________** REFERENCES AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 |Registered Name|GAFIRS| |---|---| |Company Registered Number|01876307| |Charity Registered Number|1159681| |Registered Ofce|GAFIRS| ||Lifeboat Lane| ||Stokes Bay| ||Gosport| ||Hampshire| ||PO12 2TR| |NON-ELECTED OFFICERS|| |Patron|Surgeon Rear Admiral Lionel John Jarvis, CBE DL FRCR| |Joint Presidents|Mayor of Gosport| ||Mayor of Fareham| |Vice President|John Lee (passed away Nov 2025)| |Trustees|| |The trustees who served during|the year and at the date approval were as followed| |Elected by Members|J Young (Chair)| ||K O’Neill| ||O Sargant| ||A Barber (Appointed 17thMay 2025)| ||M Clapton (Appointed May 17th2025)| ||D Taylor- Lane (Appointed 17thMay 2025)| ||L Archibald (Resigned 6 October 2025)| |Elected by Trustees|| |(Non- Executve)|R White (appointed 10thDecember 2025)| ||L Stephens-Voorhorst (Appointed 10thDecember 2025)| |Bankers|Barclays plc| ||67/69 West St| ||Fareham| ||Hampshire| ||PO16 0AT| |Independent Examiners|ALP Accountancy Ltd| ||19 Beaufort Close| ||Lee-On-The-Solent| ||Hampshire| ||PO13 8FN| 3 **GAFIRS Company Limited by Guarantee** **_______________________________________________________________________________________** The Trustees present their annual report together with the financial statements of the charitable company for the Year ending 31[st] December 2025, in compliance with the requirements of the Charity Commission. ## OBJECTIVES The objective of the Charity are stated in the Governing Document as follows: “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.” In line with these objectives, GAFIRS operates a lifeboat and a utility vehicle from its station at Lifeboat Lane, Stokes Bay, Gosport, and an Inshore Lifeboat from a berth at 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 provides free sea-safety educational talks to local schools, AED & CPR talks to local community groups and training through its cadet membership scheme for young people in life-saving skills. ## ACTIVITIES The Charity operates as a Declared Facility lifeboat service within its operating area, extending east from Titchfield Haven to the centre of the Solent. This includes the coastal waters of Hill Head, Leeon-the-Solent, Browndown, Stokes Bay and Gilkicker, as well as the area out to the Spithead Forts, Portsmouth Harbour, and Fareham Creek. The charity is made up entirely of unpaid volunteer crew members who are available on pager call-out to HM Coastguard throughout the year and in all weather conditions. On average, GAFIRS responds to around 100 incidents annually, ranging from mechanical failures and groundings to medical emergencies, persons overboard, and other life-at-risk situations. ## Additional activities include: - First-aid assistance at medical incidents along Stokes Bay. - Assistance to the local Fire, Ambulance and Police Services during emergency incidents. - Delivery of sea-safety education talks to schools, youth and adult community groups across Gosport, Fareham, and the South Hampshire. The Charity is a member of SSRO (Solent Safety Rescue Organisation), NILA (National Independent Lifeboat Association) and RLSS (Royal Life Saving Society). All GAFIRS search and rescue work and sea-safety education is provided entirely free of charge and is funded by charitable donations. 4 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** ## PUBLIC BENEFIT The Trustees have considered the Charity Commission’s general guidance on public benefit and are satisfied that the activities of the Charity, as described above, meets the necessary requirements. ## ACHIEVEMENTS AND PERFORMANCE During 2025, the charity had 96 taskings, of which 94 were HM Coastguard taskings. 55 people were assisted and 2 lives were saved. Of the total taskings, 28 resulted in the crew being stood down before launch. The busiest month of 2025 was June, with 21 Incidents, including 6 in a single day. ## GAFIRS in the Community Community engagement remained an important element of raising the charity’s profile and promoting water safety, helping to keep people safe both on and near the water. Trainers used resources developed by the Royal Life Saving Society (RLSS) to deliver tailored water safety sessions to children and young people with special educational needs (SEND). The charity attend a wide range of local events, including school fetes, HMS Collingwood and HMS Sultan Family Days, and the Gosport Marine Festival, promoting both the charity’s work and essential water safety awareness. **Total Community Events 2025 - 52** During 2025, GAFIRS also supported the start of the Clipper Round the World Yacht Race by providing water safety education and CPR training. 5 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** The Royal Antediluvian Order of Buffaloes (RAOB Club), GAFIRS has been their chosen charity for 2 years **People Educated by our talks in 2025 - 1086** We went away with new skill to keep us safe in the water Wow another amazing visit to GAFIRS, learnt something new from the talk Thank you for a wonderful look around station and adapting things to meet SEND 6 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** ## ACTIVITIES UNDERTAKEN TO ACHIEVE OUR PURPOSES AND OBJECTIVES GAFIRS 2025 Objectves 1. Increase number of LB Coxswains and ILB Helms 2. Increase number of operational members 3. Attempt to return to 24/7 service with HM Coastguard During 2025, GAFIRS increased its number of lifeboat Helms from one to two. The number of Lifeboat Coxswains remained at three, with one Helm progressing to Trainee Lifeboat Coxswain. The charity also welcomed nine new operational members during the year. The charity increased its availability for 24/7 services to HM Coastguard to 82.5% (2024 – 77.5%) All our directors and members are unpaid volunteers. Of our 53 active members, 41 are operational serving as boat crew, shore crew, and fundraisers. In addition, 12 cadet members contributed a total of 401 hours during 2025. **Total Hours Volunteered in 2025 – 8,777** **Total Members in 2025 – 80** Our work and Members Recogniton in 2025 One member received recognition from the Royal Life Saving Society (RLSS), being presented with both an RLSS recognition award and a Royal Humane Society award after successfully performing CPR while off duty in the community. Through our membership with the Royal Life Saving Society (RLSS), also been given the opportunity to nominate our members for based on their service hours and merit. In 2025, eight members RLSS Service Awards. we have recognition received 7 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** Five members received RLSS Merit Awards. Four were presented with the Certificate of Merit for their meritorious contribution to the club and its service. One member received the Medal of Distinction in recognition of their outstanding contribution at club, service, branch, and national levels. GAFIRS also introduced internal recognition awards to acknowledge the contributions of its members. ## GAFIRS Assets During 2025, the Directors decided to replace the vehicle used to transport crew members to the marina, as the existing vehicle had become increasingly unreliable. With the Gosport Inshore Lifeboat being deployed more frequently, this upgrade ensured continued availability to HM Coastguard. The Gosport Inshore Lifeboat (the 4.8 m RIB Ian Fuller) operated reliably throughout the year, with minimal downtime. The Gosport Lifeboat (the 9 m RIB Joan Dora Fuller) performed reliably throughout the first three quarters of 2025. However, during the final quarter, a series of mechanical issues left the boat unavailable for much of the period. The lifeboat was already scheduled for an extensive refit in January 2026, which aligns with the quieter part of the year for incidents. The charity also acquired an Arancia, designated Gosport Beach Rescue, for cadet training with the intention of becoming a declared asset in the future. The boathouse remains in a serviceable condition. A legacy was provided to fund the installation of solar panels; however, during the initial assessment it became clear that the boathouse requires a full rewiring before the panels can be fitted. This work is scheduled for 2026. The lease was renewed on the boathouse with Gosport Borough Council for a further 21 years. ## STRUCTURE, GOVERNANCE AND MANAGEMENT GAFIRS operates under Articles of Association as amended by special written resolutions on the 14th of August 2014. The Trustees are responsible for the management and control of the charity, and we strive to practice good governance throughout the organisation The charity is governed by a Board of Directors responsible for the effective management of the Charity and its financial sustainability. The Board normally comprises the Chair, Secretary, Finance Director, Personnel Director, Engineering Director, Operations Director and Community Director, with the option to appoint up to two Non-Executive Directors. All Directors, except the Non-Executive Directors who are appointed by the Board, are elected by the members of GAFIRS at the Annual General Meeting for a two-year term. 8 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** The Directors are supported in the day-to-day operation of the Charity by appointed Health & Safety and Safeguarding Advisors, together with membership-based working groups. ## DISCHARGE OF GOVERNANCE DUTIES ## Supervision The Articles of Association require the Board of Directors to meet at least 4 times each year with a quorum of 4 Directors. In 2025 the Board of Directors met 8 times, fully discharging the supervisory requirements. ## Financial due diligence The financial procedures, overseen by the Finance Director, ensure that purchases are authorised only in accordance with GAFIRS policies and procedures. In addition, all major, long-term or novel purchases—including those that alter strategic capability or exceed £10,000—as well as major equipment disposals, must be approved by the Board of Directors. ## Risk management The Directors have a duty to ensure the Charity’s long-term financial and operational sustainability, in order to maintain the availability of the Declared Facility lifeboat capability for HM Coastguard and to deliver sea-safety education to the local community. In pursuing this objective, the Directors have identified three principal 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 fundraising 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 reduced 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. ## 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. 9 **GAFIRS Company Limited by Guarantee** **_______________________________________________________________________________________** Included in current assets is a designated fund for the future replacement of lifeboats, to be used when the vessels reach the end of their service life. This fund is held in an investment account managed by Paul Murray Investments and, as at 31 December 2025, had a value of £639, 752 (2024: £396,332). During 2025 the Charity transferred £200,000 into the fund. 10 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** ## FINANCIAL REVIEW The total funds held by the Charity at the end of 2025 amounted to £1,300,738. This comprised Fixed Assets (Lifeboats and Equipment) of £319,771 (depreciation not taken into account) and Net Current Assets of £980,967 (including cash at bank of £77,974). During the year, GAFIRS continued to operate in a financially prudent manner, carefully raising and applying its funds. The Charity continues to benefit from the generous and ongoing support of the communities of Gosport, Fareham and beyond, for which it is deeply grateful. In addition, GAFIRS continues to receive certain services either free of charge or at reduced cost, helping to keep expenditure to a minimum. It is impossible to acknowledge here all our kind supporters, large and small, but we thank them all, including the following listed below: |A.W Smith
D Balcombe
A Beach
D Fitzgeorge
B Ayling
G Parker
C Wilson
G Bull & Friends
D Crouch
J Burgess
D Grimsdale
J Lee & Family|From Individuals
L Whitman
P Robertson
M Black
P Robinson
M Bailey
R Edmounds
Mr R Crofy
S Dawson
Mr R Lees
S Waller
Mrs Grubbs
T Pawley| |---|---| From Volunteer/Community Organisatons 1st Bishop Waltham Scouts Grove Road Senior Citizens Spinnaker Lodge No 9932 Social Club Cooks Bethel Hillhead Sailing Club Stubbington Stitch & Knit Fareham Motor Boat & Sailing Club Lee ON Solent RNA The Travelin' Shedders Fleetlands Civil Service Retirement Portchester Sailing Club Voice Box Choir Club Gosport Cruising Club Portsmouth Canoe Club Women’s Institute Bridgemary Wyches Gosport Golf Society ROAB Gosport Women’s Institute Crofton Gosport NCI Solent Powerboat Club Women’s Institute Gosport Gosport Rotary Club Spinnaker Lodge Women’s Institute Strawberry Field ||From Businesses|| |---|---|---| |Alver Valley Garden Centre|Garson Garden Centre|Old House at Home| |Alverstoke One Stop|Gosport Fishing Tackle Shop|Premier Marina| |Alvery Valley Garden Centre|Gosport Borough Council|Royal Clarence Marina| |Anglesey Hotel|Haslar Lodge|Shared Services Communicaton| |Ark Royal House|HMS Collingwood & HMS Sultan|The Jolly Rodger| |Bayside Cabin|Homefort Housing|The Sailmaker| |Defence Munitons Gosport|Kingfsher Caravan Park|Three Tuns Public House| |Five Alls Public House|Market House Pub|Youboat| All our search and rescue work and sea-safety talks are made possible by the generosity of our kind supporters. 11 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** ## RESTRICED FUND Included within the accounts is a restricted fund of £21,000, received in 2024 as a legacy and designated for the installation of solar panels on the boathouse. Following an initial assessment, it was identified that the boathouse requires a full electrical rewire and that the existing electricity supply must be investigated before the solar panels can be installed. This preparatory work is scheduled to take place in 2026. ## LEGACIES During the year the charity received two substantial legacies £222,461 from Late R Edmounds and £4,000 from Late John Burgess. ## PLANS FOR FUTURE PERIODS GAFIRS objective for 2026 - To develop and implement a robust training process that ensures all boat crew meet the requirements set out in the Rescue Boat Code of Practice. - To increase membership, with a particular emphasis on fundraising activities and participation in working groups and public talks. - To grow the Cadet membership and ensure greater involvement of Cadets within both the service and the wider community. Following the financial year end, the charity invested significantly in the lifeboat, undertaking a full refit that included the installation of new engines and a complete rewire. This work was carried out with the aim of extending the operational life of the lifeboat by a further ten years, at a cost of £150,214. While the lifeboat was away undergoing refit, the launch and recovery carriage was also sent for refurbishment. This work was completed at a cost of £49,462. (£12,400 paid in 2025) During 2026, the charity plans to rewire the boathouse in preparation for the installation of solar panels, utilising a restricted donation received in 2024 that has been specifically designated for this purpose. ## 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. 12 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** 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 2025 I report to the charity trustees on my examination of the financial accounts (“the accounts”) of the Company for the Year ended 31 December 2025 which are set out on pages 14 to 24. ## Responsibilites 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. Registered number: 01876307 13 ## **GAFIRS Company Limited by Guarantee** |**________________________________________________________________**
BALANCE SHEET
31 December 2025
Notes
FIXED ASSETS
Tangible assets
4
CURRENT ASSETS
Stocks
Debtors
5
Cash at bank and in hand
Investment
12
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 31stDecember 2025|**__________________**
2025
319,771
27,068
231,221
77,974
639,752
976,015
4,952
980,967
1,300,738
1,116,246
184,492
1,300,738|**_____**
2024
309,310| |---|---|---| |||16,238
520,023
168,962
0| |||705,223
-6,706| |||698,517| |||1,007,82
7| |||823,335
184,492| |||1,007,82
7| 14 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** ## STATEMENTS OF THE TRUSTEES The Company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the Year ended 31 December 2025. The members have not required the Company to obtain an audit of its financial accounts for the Year ended 31 December 2025 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 25[th] May 2026 and signed on its behalf by: …………………………………………… Owen Sargant The notes on pages 17 - 24 form part of these accounts. 15 ## **GAFIRS** ## **Company Limited by Guarantee** **_______________________________________________________________________________________** STATEMENT OF FINANCIAL ACTIVITIES (Incorporatng an income and expenditure account) Year ended 31 December 2025 |Note
INCOME FROM:
Grants and subsidies re-
ceived
Donatons and legacies
7
Charitable actvites
8
Other trading actvites
9
Bank interest
Total income
EXPENDITURE ON:
Charitable actvites
10
Raising funds
Other
11
Total expenditure
Net movement before gains/
(losses) on investments
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|2025|Total
funds
£
5,000
293,356
732
55,290
3,787
358,165
99,328
5,055
4,291
108,674
249,491
0
43,420
292,911
1,007,827
1,300,738|2024|| |---|---|---|---|---| ||Unrestric-
Restrict-
ted funds
ed
funds
£
£
5,000
293,356
1,427
54,595
3,787
358,165
99,328
5,055
4,291
108,674
249,491
0
43,420
292,911
1,007,827
1,300,738||Unrestric-
Restrict-
ted funds
ed
funds
£
£
2,000
81,058
1,819
35,952
2,357
123,156
103,087
1,413
1,918
106,418
16,738
0
17,382
34,120
973,708
1,007,828|Total
funds| |||||£
2,000
81,058
1,819
35,952
2,357| |||||123,156
103,087
1,413
1,918| |||||106,418| |||||16,738
0
17,382| |||||34,120| |||||973,708| |||||| |||||1,007,82
8| 16 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** ## NOTES TO THE ACCOUNTS Year ended 31 December 2025 ## 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) Accountng 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 fnancial 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 2025, 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 fxed assets and depreciaton ## Buildings, fxtures and ftngs 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 fxed 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 17 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** Calculated to write off these assets over their estimated useful economic lives on a 10% reducing balance basis. ## NOTES TO THE ACCOUNTS ## Year ended 31 December 2025 ## 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) Liabilites 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 recogniton Income is brought into account when it is more likely than not that the economic benefit will accrue to the Charity. ## Grants and donatons 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. 18 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** ## NOTES TO THE ACCOUNTS ## Year ended 31 December 2025 ## NOTE 2 - ACCOUNTING POLICIES (contnued) ## (I)Income recogniton ## Gif 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. ## Gifs 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 19 **GAFIRS Company Limited by Guarantee** ## **_______________________________________________________________________________________** allocated against the expense to which it relates. An amount for VAT refundable is included within debtors. ## NOTES TO THE ACCOUNTS ## Year ended 31 December 2025 ## NOTE 2 - ACCOUNTING POLICIES (contnued) ## (l)Allocaton and analysis of charitable support and administratve charges All central costs for charitable support and administration are met from general funds. ## (M)Corporaton 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 2025 ||Land &|||||||| |---|---|---|---|---|---|---|---|---| ||Property|||||||| ||Freehold|Plant &
Machinery||Motor
Vehicles|Fixtures &
Fitngs|Computer
E
i
t||Total| |Cost or valuaton|£|£||£|£||£|| |As at 1 January 2025|27,727|474,946||59,185|332,599||47,269|941,726| |Additons|4,183|-||39,119|-||-|43,302| |As at 31 December 2025|31,910|474,946||98,304|332,599||47,269|958,028| |Depreciaton Impair||||||||| |As at 1 January 2025|25669|292,169||11,246|275,863||27,469|941,726| |Provided during the|485|18,278||6,424|5,674||1,980|32,841| |As at 31 December 2025|26,154|310,447||17,670|281,537||29,449|665,257| ||||20|||||| **GAFIRS Company Limited by Guarantee** **_______________________________________________________________________________________** Net Book Value |As at|31 December 2025|5,756|164,499|80,634|51,062|17,820|319,771| |---|---|---|---|---|---|---|---| |As at|1 January 2025|2,058|182,777|47,939|56,736|19,800|309,310| ## NOTES TO THE ACCOUNTS Year ended 31 December 2025 |NOTE 5 – DEBTORS
Gifaid recoverable
Fuel duty recoverable
VAT refundable
Other Debtors
Trade Debtors
Short Term Investment|2025
£
3,137
2,051
13,318
212,500
215
-
231,221|2024| |---|---|---| |||£
1,532
1,746
9,510
110,000
903
396,610| |||520,023| NOTE 6 – CREDITORS: Amounts falling due within one year |NOTE 6 – CREDITORS:Amounts falling due within one year||| |---|---|---| |Trade creditors
Accrued charges
NOTE 7 – DONATIONS AND LEGACIES|2025
£
(4,952)
-
(4,952)|2024| |||£
6,678
-| |||6678| |||| |NOTE 7 – DONATIONS AND LEGACIES||||| |---|---|---|---|---| |Donatons
Grants|2025|Total
funds
£
293,356
0
293,356|2024|| ||Unrestric-
Restrict-
ted funds
ed funds
£
£
293,356
0
293,356||Unrestric-
Restrict-
ted funds
ed
funds
£
£
81058
2000
83058|Total
funds| |||||£
81058
2000| |||||83058| |NOTE 8 – INCOME FROM CHARITABLE ACTIVITIES
2025
Unrestric-
Restrict-
ted funds
ed funds
£
£
Membership
695
Swimming pool
650
Sales
82
1,427|NOTE 8 – INCOME FROM CHARITABLE ACTIVITIES
2025
Unrestric-
Restrict-
ted funds
ed funds
£
£
Membership
695
Swimming pool
650
Sales
82
1,427|Total
funds
£
695
650
82
1,427|2024|| |---|---|---|---|---| ||Unrestric-
Restrict-
ted funds
ed funds
£
£
695
650
82
1,427||Unrestric-
Restrict-
ted funds
ed funds
£
£
2220
1804
15
4039|Total
funds| |||||£
2220
1804
15| |||||4039| 21 **GAFIRS Company Limited by Guarantee** **_______________________________________________________________________________________** ## NOTES TO THE ACCOUNTS Year ended 31 December 2025 ## NOTE 9 – INCOME FROM OTHER TRADING ACTIVITIES |NOTE 9 – INCOME FROM OTHER TRADING|ACTIVITIES|||| |---|---|---|---|---| |Fundraising
Lotery
Card Machine Income
Other Fees received
GifAid recoverable|2025|Total
funds
£
0
35,491
1,694
16,500
1,605
54.595|2024|| ||Unrestric-
Restrict-
ted funds
ed funds
£
£
0
35,491
999
16,500
1,605
54,595||Unrestric-
Restrict-
ted funds
ed funds
£
£
1,413
31,769
0
0
0
33182|Total
funds| |||||£
1,413
31,769
0
0
0| |||||33182| ## 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 utlites
Insurance
Waste disposal
Light and heat
Computer consumables
and sofware
Website
Printng postage
and statonery
Telephone and internet
Other equipment expensed
Uniform
Training
Depreciaton||2025
Total
funds
£
2,129
8499
-10,829
39,851
0
3,965
5,322
153
6,347
0
0
512
0
760
1,595
1,744
6,299
190
32,841
99,238|2024|| |---|---|---|---|---| ||Unrestric-
Restrict-
ted funds
ed funds
£
£
2,129
8449
-10,829
39,851
0
3,965
5,322
153
6,347
0
0
512
0
760
1,595
1,744
6,299
190
32,841
99,238||Unrestric-
Restrict-
ted funds
ed funds
£
£
2,551
8,451
-109
21,778
0
5,565
14,901
6,529
2,890
0
0
164
0
424
1,832
858
3,968
664
32,620
103,087|Total
funds| |||||£
2,551
8,451
-109
21,778
0
5,565
14,901
6,529
2,890
0
0
164
0
424
1,832
858
3,968
664
32,620| |||||103,087| 22 **GAFIRS Company Limited by Guarantee** **_______________________________________________________________________________________** NOTES TO THE ACCOUNTS Year ended 31 December 2025 ## NOTE 11 – OTHER EXPENDITURE |NOTE 11 – OTHER EXPENDITURE||||| |---|---|---|---|---| |Bank charges
Independent examiner’s fee
Website Cost
Consultancy fees
Rent
Miscellaneous
Sundry Expenses|2025|Total
funds
£
471
1,595
650
0
0
0
1638
4,291|2024|| ||Unrestric-
Restrict-
ted funds
ed funds
£
£
471
1,532
650
0
0
0
1638
4,291||Unrestric-
Restrict-
ted funds
ed funds
£
£
297
1,432
0
0
153
-297
0
1,585|Total
funds| |||||£
297
1,432
0
0
153
-297
0| |||||1,585| Note 12 – current Asset Investments 2025 2024 **Other Investment** 639,752 - 639,752 - ## NOTE 12(a) - STAFF COSTS Average number of persons employed under contracts of service during the year was: nil (2023: 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 |Unrestricted
General fund|2025|net
assets
£
1,116,24|2024|| |---|---|---|---|---| ||Fixed
Current
assets
assets
£
£
135,279
980,967||Fixed
Current
assets
assets
£
£
358,36
464,96|net
assets| |||||£
789,215| 23 **GAFIRS Company Limited by Guarantee** |**__________________________________________________________________**
6
Designated funds:
General improvements
184,492
0
184,492
319,771
980,967
1,300,73
8
NOTES TO THE ACCOUNTS
Year ended 31 December 2025|**_____________________**
7
8
184,49
2
0
184,492| |---|---| ||542859
464968
100782
7| ||| NOTE 16 – ACCUMULATED FUNDS Movement in Year ended 31 December 2025 |Balance
brought
forward
£
Unrestricted
General fund
823,335
Designated funds:
General improvements
184,492
1,007,827
Movement in Year ended 31 December 2024
Balance
brought
forward
£
Unrestricted
General fund
789,215
Designated funds:
General improvements
184,492
973,707||Incom-
ing
re-
sources
£
358,165
0
358,165
Incoming
resources||Re-
sources
ex-
pended
£
-108,674
0
-108,674
Resources
expended||Trans-
fers
£
0
0
0
Transfers|Gains
And
losses
£
43,42
0
0
43,420
Gains
And
losses
£
17,38
2
0
0|Gains
And
losses
£
43,42
0
0
43,420
Gains
And
losses
£
17,38
2
0
0|Balance
carried
forward
£
1,116,24
6
184,492
1,300,738
Balance
carried
forward
£
823,335
184,492
1,007,82
7|Balance
carried
forward
£
1,116,24
6
184,492
1,300,738
Balance
carried
forward
£
823,335
184,492
1,007,82
7| |---|---|---|---|---|---|---|---|---|---|---| |||||||||||| |||||||||||| |||||||||||| |||||||||||| |||||||||||| |Unrestricted
General fund
Designated funds:
General improvements||||||||||| |||£
123,156||£
-106,418||£
0||£
17,38
2||£
823,335| |||0||0||0||0||184,492| |||||||||||| |||123,156||-106,418||0||0||1,007,82
7| 24