## **Search and Rescue Relief Limited**
Unaudited Report and Financial Statements
## 31 October 2021
Company number: 12284792 Charity number: 1190641
**Search and Rescue Relief Limited**
## **Contents**
**For the year ended 31 October 2021**
Reference and Administrative details ............................................................................................. 1 Trustees’ Annual Report ................................................................................................................ 2 Independent Examiner’s Report ................................................................................................... 10 Statement of Financial Activities ................................................................................................... 11 Balance Sheet ............................................................................................................................. 12 Statement of Cash flows .............................................................................................................. 13 Notes to the Financial Statements ............................................................................................... 14
**Search and Rescue Relief Limited**
**Reference and Administrative Details**
**For the year ended 31 October 2021**
**Company number** 12284792 – incorporated in the United Kingdom **Charity number** 1190641 – registered in England and Wales **Registered office** Search and Rescue Relief Limited Unit 7a Domeview Yard Tunnel Avenue Greenwich London SE10 0QE
**Trustees** Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Dickon Mitchell (Chair) Lynda Mitchell Anthony Parsons Dr Vanessa Sarah Yarwood **Bankers** Barclays Bank UK PLC 93 Lewisham High Street London SE13 6BB **Independent** Judith Miller **Examiner** Invicta House 108-114 Golden Lane LONDON EC1Y 0TL
1
**Search and Rescue Relief Limited**
**Trustees’ Annual Report**
**For the year ended 31 October 2021**
## **Trustees’ Annual Report**
The trustees present their report and the unaudited financial statements for the year ended 31 October 2021.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Objectives and activities**
## **Purposes and aims**
Search and Rescue Relief Limited was set up to promote the saving of lives and the prevention of drowning, in particular but not without limitation by the provision of financial assistance, equipment and training to organisations in the global search and rescue community.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
## **Achievement and performance**
The vision and expertise of trustee Dickon Mitchell was behind the concept of Search and Rescue Relief, and as the charity went into its second year, two large projects – Trent and RHIB – began to take shape. Funded by Sea-Watch e.V., the Trent project (Aurora SAR) is an ex-RNLI Trent class lifeboat mobilised by Search and Rescue Relief Limited to operate in the central Mediterranean in conjunction with Sea-Watch. Aurora is one of the fastest and best-equipped vessels for search and rescue in the civil fleet. She is UK flagged with a UK MCA rescue boat code certification.
The RHIB project is again in conjunction with Sea-Watch. Search and Rescue Relief Limited is assisting with the technical preparation and build of 3 new specialist search and rescue RHIBs for mobilisation on the Sea-Watch 3 ship.
We have also been assisting with the early parts of another fast boat project destined for the central Mediterranean. This is the ARRC project and has been carried out in conjunction with both Sea-Watch and the GHIBLI project. Our role is technical support to assess the viability
2
**Search and Rescue Relief Limited**
**Trustees’ Annual Report**
## **For the year ended 31 October 2021**
of the project, whilst also preparing specialist rescue equipment for use on board. The project is currently on hold.
We continued to act as partner with Handbreit - Nautical Safety Solutions gGmbH on the maintenance and operation of the the Louise Michel. The project continues to evolve and the requirements to meet the demands of German flag authorities have been a specific focus. The Louise Michel carried out her second successful mission in December 2021/January 2022, again proving to be a vital lifesaving asset.
The ‘Workshop Truck’ is still based in Burriana, Spain and being used by a number of NGOs whilst the vessels are undergoing repair and maintenance. We intent to return the truck back to the UK for a restock and service ready to be redeployed. The running costs of the truck are minimal however we will be looking at the potential for donations from the other NGOs using it to maintain its upkeep.
Thanks to the donation we received from Stiftungsfonds Zivile Seenotrettung in 2019/20 for €50,000 (£44,815) and support for our premises costs from Choose Love in 2020/21, our unrestricted reserves remain strong. This funding has allowed us to continue to grow the assistance we offer operational NGOs in the Mediterranean and Aegean while maintaining a strong financial base.
3
**Search and Rescue Relief Limited**
**Trustees’ Annual Report**
**For the year ended 31 October 2021**
## **Strategy and plans for the future**
In the 2020/21 financial year we set up our London headquarters at the community collective Domeview initially on a one-year contract, which has now been extended to five years Close to transport links and with access to the River Thames, it is currently being prepared to hold a design and fabrication centre, as well as office and meeting space, which we plan to allow others who need some the space to work to use alongside us.
This workspace is allowing us to improve efficiencies as we continue to work with partners to develop, build and supply specialist search and rescue boats and equipment and ensure repairs are conducted to the highest quality so that they are safe to be used by those in the field.
The AURORA SAR, the first “Trent” class lifeboat, has demonstrated proof of concept by successfully deploying in the Mediterranean and being involved in its first rescue mission in May 2022. Alongside the NADIR it rescued over 80 people from distress at sea. A deposit was paid in the 2021/22 financial year for a second Trent to be purchased and converted for use in the Mediterranean.
The Workshop Truck, our mobile workshop facility involving high level welding and fabrication capabilities for use in shipyards where NGOs and the civil fleet is currently deployed, and in the 2020/21 financial year, was used by 3+ NGOs on a daily basis.
SAR Relief will also begin to focus on providing training for volunteers who go out to search and rescue environments. The charity has secured funding from Sea-Watch for our Training School, having already begun to acquire equipment for the school as suitable kit came up at auction/from the RNLI so that equipment used in training will be as close as possible to that operating currently in the Central Mediterranean. Courses will be Royal Yachting Association (RYA) accredited and will provide training for equipment as well as in the water.
## **Financial Review**
## **Review 2020/21**
Restricted income was £901,856 and was used for four projects in the 2020/21 financial year, leaving year end restricted reserves of £713,259. The bulk of this expenditure has been on the purchase, repair and kit out of search and rescue equipment.
Unrestricted income was £119 of which £113 was from our Just Giving page, and £6 was interest.
Despite having taken over premises in November 2020, we continue to have very low overheads totalling £24,907 in 2020/21, £14,837 of which was funded by Choose Love
Premises: Our rent for our premises is only £1,100 per month. In 2020/21 we paid £319 in utilities. There were 4 years left on the lease as at 31[st] October 2021.
Vehicle: The Land Rover Discovery and trailer was used to transport equipment used across a number of projects
4
**Search and Rescue Relief Limited**
**Trustees’ Annual Report**
**For the year ended 31 October 2021**
Equipment: Equipment used across a number of projects
Other: Storage of equipment used for a number of projects
## **Reserves policy and going concern**
Our reserves policy is to have six months’ unrestricted reserves to cover running costs. As at the year end this estimated to be £12,256 (2019/20: £10,730). Our unrestricted reserves at the 2020/21 year end were £34,262, of which free reserves were £13,577 (2019/20 year end were £44,816).
Thanks to the support for premises costs from Choose Love, a restricted fund under the auspices of registered charity Prism the Gift Fund we have been able to meet our reserves policy. Looking forward, we have been successful in our application for a fully unrestricted grant from Choose Love for the 2022/23 financial year. Reserves are closely monitored and other unrestricted income is being sought in order to ensure our long-term financial sustainability.
However, the Search and Rescue Relief Limited model continues to be to run fully-funded projects which include financial cover for support costs such as vehicles, accounting services, software and legal costs.
For these reasons the trustees are comfortable that there are no material uncertainties about Search and Rescue Relief Limited’s ability to continue as a going concern.
## **Risk management**
The Trustees have a risk management strategy which comprises:
- An annual review of principal risks and uncertainties faced by the charity
- The establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
- The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
The key risks that this work has identified and that are still current are:
- **Business continuity** – as a growing charity with ambitious goals, we need to ensure processes are documented and shared so that that knowledge and learning remains within the organisation. We are currently undertaking a review of the Search and Rescue Relief Ltd structure to see whether we should look into recruiting permanent staff. We are also going out to recruit additional trustees.
- **Financial sustainability** – the majority of our funding is project based, and so as we grow the charity, we need to ensure that costs are well managed through detailed budgeting, a lean operation and by ensuring that adequate overheads are built into our project bids. We also continue to work on building our core funding through fundraising and developing partnerships with other organisations in the sector.
5
**Search and Rescue Relief Limited**
**Trustees’ Annual Report**
**For the year ended 31 October 2021**
## **Fundraising**
Search and Rescue Relief Limited works with funders to manage projects that are needed by the search and rescue relief sector. It puts proposals together and then seeks funding, while on other occasions it is contacted by prospective funders who have a project they want managed. There is also a just giving page.
Search and Rescue Relief Limited does not use professional fundraisers to raise money on its behalf nor does it enter into commercial partnerships. Search and Rescue Relief Limited nevertheless observes and complies with the relevant fundraising regulations and codes. During the year there was no noncompliance of these regulations and codes and Search and Rescue Relief Limited received no complaints relating to its fundraising practice.
6
**Search and Rescue Relief Limited**
**Trustees’ Annual Report**
**For the year ended 31 October 2021**
## **Structure, Governance and Management**
## **Legal status**
Search and Rescue Relief Limited is a charitable company limited by guarantee, incorporated on 28[th] October 2019 and entered on the Central Register of Charities on 30[th] July 2020.
## **Board of Trustees**
Search and Rescue Relief Limited’s Articles of Association state that the Board of Trustees must be comprised of at least three trustees, with no maximum number.
There are no employees and all decisions are taken by the trustees, who hold regular calls and meetings.
## **Trustee Recruitment**
- We have trustees with medical and search and rescue expertise and experience as trustees for other charities. This experience will continue to be recruited.
- We will work towards recruiting trustees with boat building and mechanical knowledge in relation to the repair and maintenance of assets.
- We will work towards recruiting trustees with a legal, or financial background in relation to maintaining the smooth running of the organisation and future growth.
- We will work towards recruiting trustees with fund raising experience within the charitable sector.
## **Training of trustees**
- New trustees are giving a briefing on the current situation in the Mediterranean/Aegean and the various operators in the field of search and rescue so they can understand how our current projects support and complement the work of the other actors in the field. Also all other areas of operations are summarised.
- Our accountant gives a briefing on the basics of charity accounting, in particular treatment of restricted income.
- All of the charities safeguarding and health and safety policies are introduced.
- Any requested specific training (within the specialist field of other trustees) is given on request.
General Trustee responsibilities are considered to be:
1. Strategic - approving the strategic plan that will fulfil the Search and Rescue Relief Limited’s charitable objectives.
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**Search and Rescue Relief Limited**
**Trustees’ Annual Report**
## **For the year ended 31 October 2021**
2. Stewardship - to have responsibility for the Search and Rescue Relief Limited’s assets, their preservation and exploitation, and assessing risks;
3. Monitoring - to oversee the effective management and delivery of Search and Rescue Relief’s projects;
4. Promotion of, and advocacy, for Search and Rescue Relief to external clients/partners/stakeholders;
5. Governance - ensuring that Trustee business is conducted effectively, and that the Trustees’ Code of Governance is followed.
The full Board meets at least once a year to fulfil these responsibilities.
None of the trustees receive remuneration or other benefit from their work with the Search and Rescue Relief Limited.
The Trustees review the aims, objectives and activities of the charity regularly.
## **Statement of responsibilities of the Trustees**
Trustees (who are also directors of Search and Rescue Relief Limited for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.
8
## **Search and Rescue Relief Limited**
**Trustees’ Annual Report**
## **For the year ended 31 October 2021**
They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees at 31[st] October 2021 was 4 (2020: 4). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The trustees’ annual report has been approved by the trustees on Sunday 24[th] July 2022 and signed on their behalf by
Dickon Mitchell
Chair of Trustees 24[th] July 2022
9
**Independent Examination**
## **To the members of**
## **Search and Rescue Relief**
I report to the trustees on my examination of the accounts of Search and Relief Rescue Limited for the year ended 31 October 2021.
This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the charity trustees of the Company 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 under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accounts in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
- 2 The accounts do not accord with those records; or
- 3 The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
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.
Name: Judith Miller
Relevant professional qualification or membership of professional bodies (if any): FCA DChA Address: Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London, EC1Y 0TL Date: 27 July 2022
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Search and Rescue Relief Limited
## Statement of financial activities
For the year ended 31 October 2021
**----- Start of picture text -----**
2021 2020
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations 2 113 40,917 41,030 44,815 - 44,815
Charitable activities
The Louise Michel - 181,868 181,868 - 509,556 509,556
- - - -
The Workshop Truck 20,000 20,000
- - - -
The Trent Project 343,934 343,934
- - - -
The RHIB Project 286,101 286,101
- - - -
The ARRC Project 49,036 49,036
Investments 6 - 6 1 - 1
Total income 119 901,856 901,975 44,816 529,556 574,372
Expenditure on:
Charitable activities
The Louise Michel - 211,174 211,174 - 373,372 373,372
- -
The Workshop Truck 3,126 3,126 2,871 2,871
- - - -
The Trent Project 85,093 85,093
- - - -
The RHIB Project 17,978 17,978
- - - -
The ARRC Project 3,218 3,218
- - - -
The Training Project 10,673 10,673
Choose Love Funded
- - - -
Premises and Training 14,837 14,837
Total expenditure 3 10,673 335,426 346,099 - 376,243 376,243
Net income before other
recognised gains and losses (10,554) 566,430 555,876 44,816 153,313 198,129
Net losses from fx movements - (3,936) (3,936) - (4,668) (4,668)
- - - -
Other gains 2,120 2,120
Net movement in funds (10,554) 562,494 551,940 44,816 150,765 195,581
Reconciliation of funds:
- - -
Total funds brought forward 44,816 150,765 195,581
Total funds carried forward 34,262 713,259 747,521 44,816 150,765 195,581
**----- End of picture text -----**
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 13 to the financial statements.
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Search and Rescue Relief Limited
Company no. 12284792
## Balance sheet
## As at 31 October 2021
**----- Start of picture text -----**
2021 2020
Note £ £ £ £
Fixed assets:
Tangible fixed assets 9 602,641 110,898
602,641 110,898
Current assets:
Debtors 10 66,489 45,482
Cash at bank and in hand 246,252 44,824
312,741 90,306
Liabilities:
Creditors: amounts falling due within one year 11 (167,861) (5,623)
Net current assets 144,880 84,683
Total net assets 13 747,521 195,581
The funds of the charity:
Restricted income funds 713,259 150,765
Unrestricted income funds:
General funds 34,262 44,816
Total unrestricted funds 34,262 44,816
Total charity funds 14 747,521 195,581
**----- End of picture text -----**
## Audit exemption statement
The opinion of the directors is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge the following responsibilities:
- (i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
- (ii) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the trustees on Sunday 24th July 2022 and signed on their behalf by
Dickon Mitchell Chair of Trustees
Dr Vanessa Sarah Yarwood Trustee
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Search and Rescue Relief Limited
## Statement of cash flows
For the year ended 31 October 2021
**----- Start of picture text -----**
2021 2020
£ £ £ £
Cash flows from operating activities
Net income for the reporting period 551,940 195,581
(as per the statement of financial activities)
Depreciation charges 50,184 12,179
Losses on FX movements 3,936 4,668
Dividends, interest and rent from investments (6) 1
(Increase)in debtors (21,007) (45,482)
Increase in creditors 162,238 5,623
Net cash provided by operating activities 747,285 172,570
Cash flows from investing activities:
Dividends, interest and rents from investments 6 (1)
Proceeds from the sale of fixed assets - 2,213
Purchase of fixed assets (541,927) (125,290)
Net cash used in investing activities (541,921) (123,078)
Change in cash and cash equivalents in the year 205,364 49,492
Cash and cash equivalents at the beginning of the
-
year 44,824
Change in cash and cash equivalents due to
exchange rate movements (3,936) (4,668)
Cash and cash equivalents at the end of the year
246,252 44,824
**----- End of picture text -----**
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Search and Rescue Relief Limited
Notes to the financial statements
For the year ended 31 October 2021
- 1 Accounting policies
## a) Statutory information
- Search and Rescue Relief is a charitable company limited by guarantee and is incorporated in the United Kingdom.
The registered office address and principle place of business is Search and Rescue Relief Limited, Unit 7a, Domeview Yard, Tunnel Avenue, Greenwich, SE10 0QE.
## b) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.
## c) Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## d) Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Our reserves policy requires us to hold 6 months' unrestricted reserves, and as at year end we had 6.7 months' unrestricted free reserves and we expect to strengthen our free reserves in the 2021/22 financial year via a number of means: 1) Selling assets we no longer require 2) Increase in levels of unrestricted funding 3) Transfers to unrestricted fund from restricted funds to repay investment in restricted fund projects
## e) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
14
Search and Rescue Relief Limited
Notes to the financial statements
For the year ended 31 October 2021
- 1 Accounting policies (continued)
- f) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## g) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
- h) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
- Expenditure on charitable activities includes the costs of project management of the Louise Michel project and the purchase and kit out of the Workshop Truck, undertaken to further the purposes of the charity and their associated support costs
- Other expenditure represents those items not falling into any other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## i) Grants payable
Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
- j) Allocation of support costs
- Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the overhead costs of the central function, is apportioned on the following basis which are an estimate, based on overall costs, of the amount attributable to each activity.
Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.
- The Louise 64%
- � The Mobile 1% � The Trent Project 26% � The RHIB Project 5% � The ARRC Project 1% � The Training 3%
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Search and Rescue Relief Limited
Notes to the financial statements
For the year ended 31 October 2021
- 1 Accounting policies (continued)
- j) Allocation of support costs (continued)
Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.
- k) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £1,000 and has a useful economic life of more than 1 year. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- Specialist 10 years
- � IT Hardware 2-5 years � Fixture and Fittings 2-5 years
## l) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
- m) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- n) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## o) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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Search and Rescue Relief Limited
Notes to the financial statements
For the year ended 31 October 2021
## 2 Income from donations
|Large Donors
Just Giving Donations
Choose Love
Stiftungsfonds Zivile
Seenotrettung
Total income from
donations|Unrestricted
£
-
113
-
-
113|£
18,000
-
22,917
-
40,917
Restricted|2021
Total
£
18,000
113
22,917
-
41,030|Unrestricted
£
-
-
-
44,815
44,815|£
-
-
-
-
-
Restricted|2020
Total
£
-
-
-
44,815
44,815|
|---|---|---|---|---|---|---|
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Search and Rescue Relief Limited
Notes to the financial statements
For the year ended 31 October 2021
3a Analysis of expenditure (current year)
|Equipment, work and rescue provisions
Bunkering
Marine services
Medical
Travel, accommodation and subsistence
Training
Grants to partner organisations
IT and office
Premises
Professional fees and insurance
Bank fees
Vehicle Costs
Other
Write off of fixed assets
Irrecoverable VAT
Depreciation
Support costs
Governance costs
Total expenditure 2021
Total expenditure 2020|Choose Love
Supported
Activities
The Louise
Michel
£
£
1,976
40,908
-
-
-
7,324
-
7,023
-
53,849
-
-
-
41,197
-
3,744
12,100
-
-
5,225
-
238
-
-
3,350
-
-
-
12,665
761
26,171
14,837
201,694
-
7,376
-
2,104
14,837
211,174
-
373,372|
The
Workshop
Truck
The Trent
Project
The RHIB
Project
£
£
£
900
25,169
3,073
-
-
-
-
17,828
-
-
6,375
-
23
7,763
-
-
1,922
-
-
-
-
-
4,777
-
-
6,085
100
-
41
-
173
-
615
6,132
-
-
-
120
694
456
1,770
10,004
7,410
2,986
81,273
17,171
109
2,972
628
31
848
179
3,126
85,093
17,978
2,871
-
-
Charitable activities|
The ARRC
Project
£
61
-
1,180
-
45
-
-
-
-
22
-
-
-
1,766
3,074
112
32
3,218
-|
The Training
Project
£
3,550
-
-
-
-
-
-
-
1,429
-
3,097
-
-
2,118
10,194
373
106
10,673
-|
Governance
costs
£
-
-
-
-
-
-
-
-
-
3,300
-
-
-
-
-
-
3,300
-
(3,300)
-
-|Support
costs
£
2,292
-
-
-
-
-
-
-
1,419
2,550
-
1,155
3,511
-
459
184
11,570
(11,570)
-
-|2021
Total
£
77,929
-
26,332
13,398
61,680
1,922
41,197
8,521
13,519
18,689
301
1,328
16,705
-
14,394
50,184
346,099
-
-
346,099|2020
Total
£
88,260
25,661
37,723
3,113
45,274
-
91,887
7,244
-
23,720
2,262
-
3,748
2,213
32,959
12,179
376,243
-
-
376,243|
|---|---|---|---|---|---|---|---|---|
18
Search and Rescue Relief Limited
## Notes to the financial statements
For the year ended 31 October 2021
## 3b Analysis of expenditure (prior year)
|Equipment, work and rescue provisions
Bunkering
Marine services
Medical
Travel, accommodation and subsistence
Grants to partner organisations
IT and office
Professional fees and insurance
Bank fees
Other
Write off of fixed assets
Irrecoverable VAT
Depreciation
Support costs
Governance costs
Total expenditure 2020|The Louise
Michel
The
Workshop
Truck
£
£
84,960
2,282
25,661
-
37,723
-
3,113
-
45,274
-
91,887
-
7,244
-
19,220
-
2,262
-
3,748
-
2,213
-
32,959
-
11,624
555
367,888
2,837
2,507
11
2,977
23
373,372
2,871
Charitable activities|Governance
costs
£
-
-
-
-
-
3,000
-
-
-
3,000
-
(3,000)
-|Support costs
£
1,018
-
-
-
-
1,500
-
-
-
2,518
(2,518)
-|2020
Total
£
88,260
25,661
37,723
3,113
45,274
91,887
7,244
23,720
2,262
3,748
2,213
32,959
12,179
376,243
-
-
376,243|
|---|---|---|---|---|
19
Search and Rescue Relief Limited
## Notes to the financial statements
For the year ended 31 October 2021
- 4 Grant making (current year)
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|Grants to|2021|Grants to|2020|
|institutions|institutions|
|£|£|£|£|
|Cost|
|The Louise Michel|41,197|41,197|91,887|174,281|
|At the end of the year|41,197|41,197|91,887|174,281|
**----- End of picture text -----**
The ownership of the Louise Michel sits with the partner charity on the Louise Michel project, Handbreit - Nautical Safety Solutions gGmbH. The cost of the deposit for the boat as well as a number of grants were made to support the operations of Handbreit - Nautical Safety Solutions gGmbH.
- 5 Net income / (expenditure) for the year
This is stated after charging / (crediting):
**----- Start of picture text -----**
||||
|---|---|---|
|2021|2020|
|£|£|
|Depreciation|50,184|12,179|
|Independent Examiner's Fee:|
|Independent Examination|3,300|3,000|
|Foreign exchange gains or losses|3,936|6,930|
**----- End of picture text -----**
- 6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
We had no staff in either the 2020/21 or 2019/20 financial years.
The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).
There were no trustees expenses (2020: £nil).
- 7 Related party transactions
We received a loan of £106,933 from Handbreit - Nautical Safety Solutions gGmbH to fund our expenditure on the Louise Michel. (Trustee debtor in 2020: £533). This was fully paid back in December 2021.
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties (2020: £nil).
## 8 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
20
Search and Rescue Relief Limited
## Notes to the financial statements
## For the year ended 31 October 2021
|9
At the end of the year
Disposals in year
Tangible fixed assets
At the start of the year
Cost
At the end of the year
At the start of the year
Charge for the year
At the start of the year
Additions in year
Depreciation
Eliminated on disposal
At the end of the year
Net book value|Fixtures
and fittings
£
97,616
534,807
-
632,423
10,076
45,378
-
55,454
576,969
87,540|IT Hardware
£
8,796
-
-
8,796
1,548
2,852
-
4,400
4,396
7,248|Specialist
Vehicles
£
16,665
7,120
-
23,785
555
1,954
-
2,509
21,276
16,110|Total
£
123,077
541,927
-
665,004
12,179
50,184
-
62,363
602,641
110,898|
|---|---|---|---|---|
All of the above assets are used for charitable purposes.
## 10 Debtors
|Accruals
Trade creditors
Other debtors
Accrued income
Loans from partner
Income in advance
Creditors: amounts falling due within one year|2021
£
4,113
62,376
66,489
2021
£
6,448
106,933
2,083
52,397
167,861|2020
£
667
44,815
45,482
2020
£
1,146
-
-
4,477
5,623|
|---|---|---|
## 11 Creditors: amounts falling due within one year
21
Search and Rescue Relief Limited
## Notes to the financial statements
## For the year ended 31 October 2021
|12a
12b
13a
At 1
November
2020
Income &
gains
£
£
Restricted funds:
133,636
199,868
17,129
-
-
343,934
-
286,101
-
49,036
-
22,917
Total restricted funds
150,765
901,856
General funds
44,816
119
44,816
119
195,581
901,975
Net assets at 31 October 2021
The ARRC Project
Choose Love
Movements in funds (current year)
The RHIB Project
Total funds
Analysis of net assets between funds (prior year)
Tangible fixed assets
Tangible fixed assets
Analysis of net assets between funds (current year)
Net current assets
Net current assets
Net assets at 31 October 2020
Louise Michel
Workshop Truck
The Trent Project
Total unrestricted funds|General
unrestricted
£
20,685
13,577
34,262
General
unrestricted
£
-
44,816
44,816
Expenditure
& losses
£
(214,648)
(3,126)
(85,555)
(17,978)
(3,218)
(14,837)
(339,362)
(10,673)
(10,673)
(350,035)|Restricted
£
581,956
131,303
713,259
Restricted
£
110,898
39,867
150,765
Transfers
£
-
-
-
-
-
-
-
-
-|Total funds
£
602,641
144,880
747,521
Total funds
£
110,898
84,683
195,581
At 31
October
2021
£
118,856
14,003
258,379
268,123
45,818
8,080
713,259
34,262
34,262
747,521|
|---|---|---|---|
22
Search and Rescue Relief Limited
## Notes to the financial statements
For the year ended 31 October 2021
## 13b Movements in funds (prior year)
|Restricted funds:
Louise Michel
Workshop Truck
General funds
Total restricted funds
Total funds
Total unrestricted funds|At 1
November
2019
£
-
-
-
-
-|Income &
gains
£
511,676
20,000
531,676
44,816
44,816
576,492|Expenditure
& losses
£
(378,040)
(2,871)
(380,911)
-
-
(380,911)|Transfers
£
-
-
-
-
-
-|At 31
October
2020
£
133,636
17,129
150,765
44,816
44,816
195,581|
|---|---|---|---|---|---|
## 13c Purposes of restricted funds
The Louise Michel - for the purchase, build, kit out and operation of the search and rescue boat the Louise Michel
The Workshop Truck - for the purchase, kit out and running of the maintenance Workshop Truck
The Trent Project - for the purchase, build and kit out of a second-hand RNLI Trent Lifeboat to provide high speed support to search and rescue teams operating in the Mediteranean.
The RHIB Project - for the technical preperation and build of 3 new specialist search and rescue RHIVS for mobilisation on the Sea-Watch 3.
The ARRC Project - this project was an experimental project that only finished its first phase.
Choose Love - Choose Love, the trading name for Prism, provided core funding for investment in training boats, fit out of the new premises and to cover rent
## 14 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
23