Keswick Mountain Rescue Team
Report of the Trustees
and Financial Statements for the year ended
31 October 2025
Draft 04 Feb 2026
Keswick Mountain Rescue Team
Index to the Financial Statements for the year ended 31 October 2025
| Page | ||
|---|---|---|
| Charity Information | 1 | |
| Trustees' Report | 2 | |
| Independent Auditors Report | 6 | |
| Statement of Financial Activities | 10 | |
| Statement of Financial Activities Comparative | 11 | |
| Balance Sheet | 12 | |
| Notes to the Financial Statements | 13 | - 18 |
Keswick Mountain Rescue Team
Charity Information for the year ended 31 October 2025
Trustees James Lamb Matthew Bazire Christopher Higgins John Hunston - resigned 29 January 2025 Jonny Hume Peter Little Phil Rutherford - appointed 29 January 2025 Principal and KMRT Headquarters Registered Office Lakeside Cark Park Keswick Cumbria CA12 5DJ Charity Number 1165345 Auditor Dodd & Co Audit Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate Carlisle CA1 2RW Investment Advisors Brewin Dolphin Securities Ltd 4th Floor, 10 Wellington Place Leeds LS1 4AN
Page 1
Keswick Mountain Rescue Team
Report of the Trustees for the year ended
31 October 2025
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
Governing Document
The charity is a Charitable Incorporated Organisations (CIO) and is governed by a Constitution.
Recruitment and Appointment of Trustees
The only body with the power (within the terms of the Constitution) to appoint a Trustee is the membership of the Charity. The Charity Trustees are appointed at each Annual General Meeting, and hold office until the following Annual General Meeting. The Trustees must be members of the Charity and are made up of a Chairperson, Secretary, Treasurer, Team Leader and two others elected from the general membership. There is no bar on a Trustee standing for office for successive terms. Candidates for positions conferring trusteeship must be nominated in writing to the Secretary not less than 21 days prior to the Annual General Meeting, and notified to the membership not less than 14 days prior thereto. Voting is conducted by a secret ballot.
The Trustees who served during the year were:James Lamb - Chair Fiona Boyle - Secretary resigned 6 February 2025 John Hunston - Treasurer resigned 29 January 2026 Chris Higgins Peter Little - Secretary Jonny Hume Matthew Bazire - appointed 6 February 2025 Phil Rutherford - appointed 29 January 2026
Structure
The running of the Charity is overseen by the Trustees, but all members are involved in decision making processes. Individual members are appointed to take specific responsibility for a number of areas in the operation of the team. These include managing the equipment, the vehicles and the base building, and also the annual training programme for team members. The Charity has a selection process which allows anyone living in the area interested in joining to apply for membership. They are then assessed over a number of months before being taken on as probationary members if they are assessed as having the necessary skill set. After a year as a probationer, full membership is granted, subject to the approval of all current members.
Objects
The main objects of the Charity (as set out in the Constitution) are "to be for the public benefit, to relieve suffering and distress arising thereon, among persons and animals endangered by accident or natural hazards anywhere and particularly on the mountains of Cumbria in the vicinity of Keswick".
Activities
The Charity meets its objectives by having a team of suitably trained and qualified members available to go on call outs to incidents.
Page 2
Keswick Mountain Rescue Team
Report of the Trustees, contd. for the year ended 31 October 2025
Achievements and Performance
This calendar year has been a little less busy than 2024, with 129 callouts and five fatalities. Since Covid, the number of callouts has been about 25% higher than previously, and this has placed a strain on the team’s members. We are constantly striving to improve our practices, with more emphasis on risk assessments, post-rescue debriefs and near-miss reporting. Almost every incident provides learning points, usually non-critical, from which we try to increase our effectiveness.
Our team leader, Chris Higgins, is standing down after 12 years, and he is only the fifth leader the team has had since its inception in 1947. This role is almost a full-time commitment, with much behind-the-scenes work as well as incident leadership. Without wishing in any way to denigrate his predecessors, Chris has raised the level of the team’s professionalism and morale; his successor has very big shoes to fill.
A number of team members have engaged in winter training in the Cairngorms and summer training in Glencoe, 4x4 driver training more locally, and of course our weekly training sessions covering a wide range of skills. We have recently purchased four e-mountain bikes to enhance our speed in responding to timecritical incidents on some of the better tracks in our area, and members are being trained up in their use. We also purchased new mannequins which will improve the realism of our cardiac arrest training.
Our probationer intake this year is proving a very useful addition to our team, again improving its age profile. However, in 2026 we will be suspending recruitment to allow the new team leader to bed in. We haven’t had many retirements in the last year, so we are fortunate in the timing.
Finally , our social events have proved as successful as ever, paid for from the ‘Buy me a Coffee’ fund to ensure donors know where their money is going. We have pizza nights and barbeques for members and their families from time to time, but a legacy from a former team member, Nuala Dowie, has allowed us to organise a larger event for members, former team members and families, which will take place at Keswick Rugby Club.
Financial Review
During the year the team had total income of £524,563 (2024 - £640,286) and expenditure of £348,945 (2024 - £277,961) resulting in net income for the charity of £175,618 (2024 - £362,325) before revaluation of investments. In addition to income and expenditure, there were unrealised gains on the the investments by £70,676 (2024 - gain £121,360). The closing reserves at 31 October 2025 were £3,625,561 (2024 - £3,379,267). This is made up of £4,454 of restricted reserves, £2,430,196 of designated funds and £1,190,911 of unrestricted reserves, which is also the free reserves.
Investment Policy
The Charity provides a vital emergency service that requires certainty of funding. The Charity Trustees have, historically, adopted a risk-averse approach to investment. The strategy is to safeguard sufficient liquid funds to cover short term operational needs in building society accounts, making use of higher yielding limited access accounts where appropriate. In this way the capital is secure and the interest income is maximised.
Complementing this operational liquidity, the Trustees have agreed a medium to long-term investment strategy based on a balanced portfolio of bonds and equities, managed by a team of Investment Advisors who specialise in lower-risk investments for charities. These funds provide capital growth and income. All income is re-invested while it is not required for liquid reserves.
General Reserves
The policy on general reserves is led by the view that the Trustees must have regard to both the short and long term needs of the Charity. It is regularly reviewed to ensure it effectively meets the Charity's objectives. The Charity has endeavoured to secure a regular income via collection boxes, mobile phone and on-line donations as well as gift aid donations.
Page 3
Keswick Mountain Rescue Team
Report of the Trustees, contd. for the year ended 31 October 2025
The Trustees will maintain the general income reserve to ensure that the provision of the Charity's primary objectives will not be hampered by an imbalance between income and expenditure, based on the Charity's past experience of fund raising and operational cost management.
Restricted Reserves
Where the charity receives funds for a specific purpose these funds are indentified as restricted funds. Any expenditure in relation to the income is allocated to the fund. Where the fund is for the purchase of a fixed asset, the depreciation of that asset is charged to the restricted fund in line with the depreciation policy.
Designated Reserves
In order to manage the reserves as effectively as possible, the Charity has established a number of designated reserves where funds are 'ring fenced' for a specific aspect of the running of the charity.
The Fixed Asset Reserve shows the amount of reserves tied up in fixed assets and, hence, helps to clarify the true level of general reserves.
The Trustees Reserve is a set aside to cover circumstances leading to a signficant drop in income, such as loss of reputation or goodwill. It is normally set at three times the level of the year's expenditure, as this is seen as the maximum it would take to restore such a loss. The Vehicle Replacement Reserve is an amount set aside for future replacement of vehicles.
Safety and Risk Management
The Trustees actively review the major risks which the Charity faces on a regular basis. They believe that maintaining reserves at current levels, combined with an annual review of insurance policies and the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.
Grant Making
The Charity does not make grants to individuals or other organisations. However it remains the Charity's policy to make available to other rescue teams training in specialist areas, such as swift water rescue and advanced rope rescue techniques, that other teams may not have obtained, and without any charge to them. The policy in this regard is to facilitate the spread of modern or evolving techniques, to encourage closer co-operation between teams, and to utilise the Charity's funds to the benefit of mountain rescue generally.
Public Benefit Guidance
The Trustees confirm that they have complied with the duties in section 4 of the Charities Act 2006 to have due regard to the guidance published by the Charity Commission, including public benefit guidance.
Page 4
Keswick Mountain Rescue Team
Independent Auditors Report for the year ended 31 October 2025
Opinion
We have audited the financial statements of Keswick Mountain Rescue Team for the year ended 31 October 2025 which comprise the primary statements such as the Statement of Financial Activities including Income and Expenditure Account and Statement of Total Recognised Gains and Losses, the Balance Sheet and the related notes.. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements:
• give a true and fair view of the state of the charity’s affairs as at 31 October 2025 and of its incoming resources and application of resources for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 6
Keswick Mountain Rescue Team
Independent Auditors Report for the year ended 31 October 2025
Other information (cont)
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008[4 ] require us to report to you if, in our opinion:
-
adequate and proper accounting records have not been kept, or returns adequate for our audit
-
have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees’ remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees (who are also the trustees of the charity for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Page 7
Keswick Mountain Rescue Team
Independent Auditors Report for the year ended 31 October 2025
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We have;
Obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;
-
Obtained an understanding of the entity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance;
-
Identified the laws and regulations that have significance in the context of the entity;
-
Obtained an understanding of the entity’s risk assessment process, including the risk of fraud;
-
Assessed and evaluated the susceptibility of the entity’s financial statements to material misstatement, through error and fraud;
-
Implemented procedures to enable the identification and testing of unusual or unexpected journal entries;
-
Evaluated the assumptions and judgements used by management within significant accounting estimates and assessed if these indicate evidence of management bias;
-
Tested significant transactions, in particular the evaluation of the business rationale for any which appear unusual or outside the company’s normal course of business;
-
Reviewed the financial statements and tested the disclosure against the supporting documentation;
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Communicated relevant matters (including those above) to all members of the audit team to ensure they understood the risks specific to the entity and the audit procedures planned to mitigate these.
Page 8
Keswick Mountain Rescue Team
Independent Auditors Report for the year ended 31 October 2025
Auditor’s responsibilities for the audit of the financial statements (cont)
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Dodd & Co Audit Limited, Statutory Auditor Date
FIFTEEN Rosehill, Montgomery Way, Rosehill Estate, Carlisle, Cumbria CA1 2RW Dodd & Co Audit Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Page 9
Keswick Mountain Rescue Team
| Statement of Financial Activities | ||||||
|---|---|---|---|---|---|---|
| for the year ended | ||||||
| 31 October 2025 | 31 | October 2025 | 31 October 2024 | |||
| Notes | Restricted | Unrestricted | Designated | Total | Total | |
| Funds | ||||||
| £ | £ | £ | £ | £ | ||
| INCOME | ||||||
| Donations and legacies | 2 | 7,069 | 466,694 | - | 473,763 | 594,375 |
| Investment income | 3 | - | 50,800 | - | 50,800 | 45,911 |
| Other income | 4 | - | - | - | - | - |
| Total income | 7,069 | 517,494 | - | 524,563 | 640,286 | |
| Expenditure | ||||||
| Costs of raising funds | 5 | - | 7,649 | - | 7,649 | 7,177 |
| Charitable activities | 6 | 15,007 | 326,289 | - | 341,296 | 270,784 |
| Total expenditure | 15,007 | 333,938 | - | 348,945 | 277,961 | |
| Net income / (expenditure) before transfe | (7,938) | 183,556 | - | 175,618 | 362,325 | |
| and investments | ||||||
| Net gains /(losses) on investments | - | 70,676 | - | 70,676 | 121,360 | |
| Net income / (expenditure) | (7,938) | 254,232 | - | 246,294 | 483,685 | |
| Transfers between funds | - | 1,941 | (1,941) | - | - | |
| Total funds brought forward | 12,392 | 934,738 | 2,432,137 | 3,379,267 | 2,895,582 | |
| Total funds carried forward | 13 | 4,454 | 1,190,911 | 2,430,196 | 3,625,561 | 3,379,267 |
| Funds carried forward as follows:- | ||||||
| Revenue Funds | 4,454 | 1,190,911 | 973,883 | 2,169,248 | 1,876,730 | |
| Fixed Asset Funds | 1,456,313 | 1,456,313 | 1,502,537 | |||
| 4,454 | 1,190,911 | 2,430,196 | 3,625,561 | 3,379,267 |
The notes form part of these financial statements
Page 10
Keswick Mountain Rescue Team
Statement of Financial Activities - Comparative for the year ended 31 October 2024
31 October 2024
| Restricted | Unrestricted | Designated | Total | |
|---|---|---|---|---|
| Funds | ||||
| £ | £ | £ | £ | |
| INCOME | ||||
| Donations and legacies | 7,906 | 586,469 | - | 594,375 |
| Investment income | - | 45,911 | - | 45,911 |
| Other income | - | - | - | - |
| Total income | 7,906 | 632,380 | - | 640,286 |
| Expenditure Costs of raising funds Charitable activities |
- 4,234 |
7,177 266,550 |
- - |
7,177 270,784 |
| Total expenditure | 4,234 | 273,727 | - | 277,961 |
| Net income / (expenditure) before 3,672 and investments Net gains /(losses) on investments - |
358,653 121,360 |
- - |
362,325 121,360 |
|
| Net income / (expenditure) Transfers between funds Total funds brought forward |
3,672 - 8,720 |
480,013 (87,402) 542,127 |
- 87,402 2,344,735 |
483,685 - 2,895,582 |
| Total funds carried forward | 12,392 | 934,738 | 2,432,137 | 3,379,267 |
| Funds carried forward as follows:- Revenue Funds Fixed Asset Funds |
12,392 - |
934,738 - |
929,600 1,502,537 |
1,876,730 1,502,537 |
| 12,392 | 934,738 | 2,432,137 | 3,379,267 |
The notes form part of these financial statements
Page 11
| KeswickMountainRescueTeam | KeswickMountainRescueTeam | ||||
|---|---|---|---|---|---|
| BalanceSheet | |||||
| asat | |||||
| 31October2025 | |||||
| Notes | 31October2026 | 31October2024 | |||
| £ | £ | £ | £ | ||
| FixedAssets | |||||
| Tangiblefixedassets | 9 | 1,456,313 | 1,502,537 | ||
| Investments | 10 | 1,309,185 | 955,730 | ||
| 2,765,498 | 2,458,267 | ||||
| CurrentAssets | |||||
| Stock | 1,480 | 1,480 | |||
| Debtors | 11 | 90,630 | 14,657 | ||
| Cashatbankandinhand | 778,355 | 931,711 | |||
| 870,465 | 947,848 | ||||
| Creditors:amountsfallln_gdue withinoneyear | |||||
| Creditorsandaccruals | 12 | 10,402 | 26,848 | ||
| Net CurrentAssets | 860,063 | 921,000 | |||
| TotalAssetslessCurrent Llabllltles | 3,625,561 | 3,379,267 | |||
| NETASSETS | 3,625,561 | 3,379,267 | |||
| Funds | |||||
| Restrictedfunds | 13 | 4,454 | 12,392 | ||
| Designatedfunds | 13 | 2,430,196 | 2,432,137 | ||
| Unrestrictedfunds | 1,190,911 | 934,738 | |||
| 14 | 3,625,561 | 3,379,267 |
Keswick Mountain Rescue Team
Notes to the Financial Statements for the year ended 31 October 2025
1 Accounting Policies
Statement of compliance
The accounts have been prepared in accordance with the Charities Act 2011, and the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Basis of preparation
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
These financial statements have been prepared on a going concern basis.
Fund accounting policy
Restricted funds are those donated for use in a particular area or for a specific purpose, the use of which is restricted to that area or purpose. Designated funds are those set aside by the trustees out of general funds for a specific purpose. Further details of each fund are in Note 14.
Income
Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administer/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measured with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity. Investment income is recognised on a receivable basis.
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs of generating funds include investment management fees. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets and depreciation
Individual fixed assets costing £500 or more are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Equipment 15% - 25% straight line basis Motor vehicles 25% reducing balance Freehold buildings Over 50 years straight line
Page 13
Keswick Mountain Rescue Team
Notes to the Financial Statements for the year ended 31 October 2025
1 Accounting Policies (continued)
Investments
Fixed asset investments are included at market value at the date of the balance sheet. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of financial activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the end of the year.
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.’
| 31 October | 2025 | |||||
|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Designated | Total | 31 October 2024 | ||
| £ | £ | £ | £ | £ | ||
| 2 | Donations and legacies (incl Grants) | |||||
| Legacies | - | 270,375 | - | 270,375 | 414,889 | |
| Donations including gift aid | 7,069 | 172,453 | - | 179,522 | 158,800 | |
| Collection Boxes | - | 23,866 | - | 23,866 | 20,686 | |
| Grant income | - | - | - | - | - | |
| 7,069 | 466,694 | - | 473,763 | 594,375 | ||
| 3 | Investment income Listed investments Bank interest received |
- - |
25,416 25,384 |
- - |
25,416 25,384 |
18,935 26,976 |
| - | 50,800 | - | 50,800 | 45,911 | ||
| 4 | Other income Miscellaneous sales Insurance proceeds |
- - |
- - |
- - |
- - |
- - |
| - | - | - | - | - | ||
| 5 | Costs of raising funds Investment management fees Legal fees Other fundraising costs |
- - - |
7,181 - 468 |
- - - |
7,181 - 468 |
5,701 1,000 476 |
| - | 7,649 | - | 7,649 | 7,177 |
Page 14
Keswick Mountain Rescue Team
Notes to the Financial Statements for the year ended 31 October 2025
| 6 Charitable activities Medical supplies Equipment, clothing & supplies Courses, training & travel Rent, rates and water Light, heat and power Insurance Premises repairs and cleaning Social fund expenses Telephone and communications Computer expenses Printing, stationery and postage Motor fuel and repairs Promotional expenses Donations made Auditors fee Bank charges Depreciation freehold Depreciation equipment Depreciation motor vehicles 6a Governance Costs Auditors fee |
31 October 2025 Restricted UnrestrictedDesignated Total 31 October 2024 £ £ £ £ £ - 17,094 - 17,094 16,525 - 66,576 - 66,576 60,555 - 43,630 - 43,630 38,951 - 1,356 - 1,356 1,217 - 3,430 - 3,430 6,315 - 5,691 - 5,691 6,495 - 19,197 - 19,197 21,215 10,981 - - 10,981 - - 23,245 - 23,245 29,966 - 2,591 - 2,591 1,358 - 1,535 - 1,535 726 - 13,720 - 13,720 8,153 - 2,394 - 2,394 1,715 - 50,000 - 50,000 1,275 - 6,800 - 6,800 6,515 - 917 - 917 1,007 - 32,731 - 32,731 32,731 3,400 30,481 - 33,881 28,697 626 4,901 5,527 7,368 15,007 326,289 - 341,296 270,784 - 6,800 - 6,800 6,515 - 6,800 - 6,800 6,515 |
|---|---|
7 Trustee Remuneration and Expenses
No trustees received any remuneration during the year.
Travelling expenses totalling £241 (2024 - £124) were paid to the trustees to reimburse them for expenses incurred in the course of their duties.
8 Net income / (expenditure)
Net income / (expenditure) is stated after charging:
| Depreciation of tangible fixed assets Auditor's fee |
2025 £ 72,139 6,800 |
2024 £ 68,796 6,515 |
|---|---|---|
Page 15
Keswick Mountain Rescue Team
Notes to the Financial Statements for the year ended 31 October 2025
9 Tangible Fixed Assets
| COST At 1 November 2024 Additions Disposals At 31 October 2025 DEPRECIATION At 1 November 2024 Charge for year Eliminated on disposals At 31 October 2025 NET BOOK VALUE At 31 October 2025 At 31 October 2024 |
Freehold land and buildings £ 1,636,563 - - 1,636,563 207,140 32,731 - 239,871 1,396,692 1,429,423 |
Motor vehicles £ 258,666 - - 258,666 236,558 5,527 - 242,085 16,581 22,108 |
Equipment £ 291,767 25,915 (7,295) 310,387 240,761 33,881 (7,295) 267,347 43,040 51,006 |
Total £ 2,186,996 25,915 (7,295) 2,205,616 684,459 72,139 (7,295) 749,303 1,456,313 1,502,537 |
|---|---|---|---|---|
10 Investments held as fixed assets
| Market Value | Market Value | |||
|---|---|---|---|---|
| At | 1 November 2024 | 955,730 | ||
| Additions | 560,750 | |||
| Disposals | (277,971) | |||
| Revaluation | 70,676 | |||
| At | 31 October 2025 | 1,309,185 | ||
| 11 | Debtors | 31 October 2025 | 31 October 2024 | |
| Trade debtors | £ - |
£ - |
||
| Prepayments and accrued income | 65,931 | 4,335 | ||
| VAT reclaimable | 21,232 | 7,614 | ||
| Gift aid due | 3,467 | 2,708 | ||
| Other debtors | - | - | ||
| 90,630 | 14,657 | |||
| 12 | Creditors: amounts falling due within one year | |||
| Trade creditors | 31 October 2025 £ 3,697 |
31 October 2024 £ 18,950 |
||
| Accruals | 6,705 | 7,898 | ||
| 10,402 | 26,848 |
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Keswick Mountain Rescue Team
Notes to the Financial Statements for the year ended 31 October 2025
13 Funds
| Funds | |||||
|---|---|---|---|---|---|
| At | Incoming | Outgoing | At | ||
| 1 November 2024 | Resources | Resources | Transfers 31 October 2025 | ||
| £ | £ | £ | £ | £ | |
| Restricted | |||||
| Grant Funded Assets | 4,486 | - | (4,026) | - | 460 |
| Social Fund | 7,906 | 7,069 | (10,981) | - | 3,994 |
| 12,392 | 7,069 | (15,007) | - | 4,454 | |
| Designated Trustees Reserve Fixed Asset Reserve Vehicle Replacement Reserve |
789,600 1,502,537 140,000 |
- - - |
- - - |
44,283 (46,224) - |
833,883 1,456,313 140,000 |
| 2,432,137 | - | - | (1,941) | 2,430,196 |
The transfer to the Fixed Asset Reserve is the net additions to fixed assets in the year - the cost of additions less the depreciation charged.
Funds
Year ended 31st October 2024
| Restricted | 01 | At Incoming Outgoing At November 2023 Resources Resources Transfers 31 October 2024 £ £ £ £ £ |
|---|---|---|
| Grant Funded Assets | 8,720 - (4,234) - 4,486 |
|
| Social Fund | - 7,906 - - 7,906 |
|
| 8,720 7,906 (4,234) - 12,392 |
||
| Designated | ||
| Trustees Reserve | 663,129 - - 126,471 789,600 |
|
| Fixed Asset Reserve | 1,541,606 - - (39,069) 1,502,537 |
|
| Vehicle Replacement | Reserve | 140,000 - - - 140,000 |
| 2,344,735 - - 87,402 2,432,137 |
Restricted Funds
When grants are awarded to the team for the purchase of fixed assets these funds are allocated to a restricted fund and the depreciation of the asset allocated to that fund in accordance with the depreciation policy.
Social fund - The charity runs a separate 'buy me a coffee' fundraising campaign and income recived via this route it is restricted and categorised to the Social Fund.
Page 17
Keswick Mountain Rescue Team
Notes to the Financial Statements for the year ended 31 October 2025
Designated Funds
The Trustees Reserve is a set aside to cover circumstances leading to a significant drop in income, such as loss of reputation or goodwill. It is set at three times the level of the previous year's expenditure, as this is seen as the maximum time it would take to restore such a loss. The Fixed Asset Reserve shows the amount of reserves tied up in fixed assets and, hence, helps to clarify the true level of General Reserves.
The Vehicle Replacement Reserve is an amount set aside for future replacement of vehicles. The transfer from General Reserves into the Trustees reserve is to agree the Trustees Reserve to three times the previous year's expenditure, in line with the policy for this reserve. The transfer into the Fixed Asset Reserve is to agree this reserve to the net book value of the fixed assets at the year end. The transfer from the Building Fund is to reduce the value to the balance due on the building extension contract. The transfer from the Vehicle Replacement Reserve is to reflect the purchase of a vehicle during the year and leave an amount sufficient to purchase two replacement vehicles.
| 14 Net Assets by fund Restricted Unrestricted Designated £ £ £ Tangible fixed assets - - 1,456,313 Investments - 475,302 833,883 Current assets 4,454 726,011 140,000 Creditors: amounts falling - (10,402) - due within one year Total net assets 4,454 1,190,911 2,430,196 Net Assets by fund - Year Ended 31 October 2024 Restricted Unrestricted Designated £ £ £ Tangible fixed assets - - 1,502,537 Investments - 955,730 - Current assets 12,392 5,856 929,600 Creditors: amounts falling due - (26,848) - within one year Total net assets 12,392 934,738 2,432,137 |
Total £ 1,456,313 1,309,185 870,465 (10,402) 3,625,561 Total £ 1,502,537 955,730 947,848 (26,848) 3,379,267 |
|---|---|
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