2024-12-31-accounts - The Communications And Public Service Lifeboat Fund

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Annual Report and Accounts 2024

The Duke of Edinburgh (Civil Service No. 53), based at Wells-Next-The-Sea

The Lifeboat Fund is a charitable organisation dedicated exclusively to supporting the Royal National Lifeboat Institution’s mission of saving lives at sea. Founded in 1866, the Fund has since provided the RNLI with 54 lifeboats and substantial additional support.

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Annual Report and Accounts 2024

Chairs report for 2024

As the new Chair of The Civil Service Lifeboat Fund, I would like to thank all trustees and fundraisers for their outstanding efforts in 2024. It is an honour to succeed Simon Case and Jeremy Fleming, whose leadership has ensured our ongoing success.

Your dedication and hard work are essential to our success and your commitment will help us achieve our goals and excel this year.

I am very pleased to work with a team that demonstrates excellence, commitment, and resilience. Together, we aim to support the RNLI. I believe that our combined efforts will contribute to positive change.

Thank you once again for your contributions. I look forward to collaborating closely with all of you as we begin this new chapter and aim to make a greater impact in the upcoming year.

John-Paul Marks

Chair, The Lifeboat Fund

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Annual Report and Accounts 2024

Chairs report for 2024.................................................................................................... 2
Trustees’ Report for 2024.............................................................................................. 4
Our Purpose................................................................................................................... 4
Our Lifeboats.................................................................................................................. 5
Recent history of our Lifeboats.................................................................................... 7
2024 Launches and rescues....................................................................................... 10
Update from the Scottish Government and Director of Fundraising Angela
Saunders....................................................................................................................... 12
2024 Financial Summary............................................................................................. 16
Analysis of Donations and Legacies Received......................................................... 16
Use of Funds................................................................................................................ 16
Risk Management......................................................................................................... 17
Remuneration To Charity Trustees............................................................................ 17
Relationship with Other Charities............................................................................... 17
Statement of Financial Activities for year ended 31 December 2024...................... 20
Balance Sheet as at 31 December 2024..................................................................... 21
Notes to the Accounts................................................................................................. 22
1. Accounting Policies.............................................................................................. 22
1.1. Basis of preparation of accounts..................................................................... 22
1.2. Fund accounting............................................................................................... 22
1.3. Income................................................................................................................ 22
1.4. Expenditure........................................................................................................ 23
1.5. Value Added Tax............................................................................................... 23
1.6. Interest receivable............................................................................................. 23
1.7. Going concern................................................................................................... 24
1.8. Cash at bank and in hand................................................................................. 24
1.9. Liabilities and provisions................................................................................. 24
1.10. Financial instruments.................................................................................... 24
1.11. Taxation.......................................................................................................... 24
1.12. Critical accounting estimates and areas of judgement.............................. 25
1.13. General information....................................................................................... 25
How to Contact Us....................................................................................................... 33
Registered Address..................................................................................................... 33
Independent Examiner................................................................................................. 33

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Annual Report and Accounts 2024

Trustees’ Report for 2024

This Trustees’ Report and Financial Statements for the Communications and Public Service Lifeboat Fund (the charity) covers the year ended 31 December 2024. The Trustees confirm compliance with statutory requirements, the charity’s governing document, and relevant accounting standards, including FRS 102 (effective from 1 January 2019), the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006 (as amended).

In preparing these statements, the Trustees have followed guidance from the Charity Commission on public benefit and all relevant advice from the Office of the Scottish Charity Regulator.

Our Purpose

The Lifeboat Fund is dedicated to a singular mission, which has guided the charity since its establishment. Since 1866, this organisation has supported the crucial activities of the Royal National Lifeboat Institution (RNLI), aiding in life-saving efforts and rescues at sea, along rivers, and during flooding events.

Annually, The Lifeboat Fund collaborates with the RNLI to identify and agree upon key priorities for fundraising appeals. These initiatives consistently address essential areas where support is most needed. Historically, the Fund concentrated on procuring new lifeboats. In recent years, as the longevity of existing vessels increased and maintenance requirements reduced the necessity for additional boats, the RNLI has directed attention toward other strategic needs.

The Lifeboat Fund chiefly leverages its status as the Civil Service’s longest-standing charity to initiate contribution appeals among Civil Service personnel. Efforts also extend to current and former employees of the Civil Service, members of the Civil Service Pensioners Alliance, public sector workers, British Telecom (BT) staff, Royal Mail employees, and other supporters. Fundraising is actively encouraged across these groups. Typically, retired civil servants and Royal Mail pensioners contribute through pension payroll, while BT employees often engage via payroll giving schemes.

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Annual Report and Accounts 2024

Our Digital Presence

We are preparing to launch a new digital presence in 2025. Our current website is no longer supported by our digital partners, Invotra, and we are actively progressing towards a renewed online vision. We extend our sincere thanks to Invotra for their partnership and wish them continued success in the future.

Gift Aid

Gift Aid boosts donation value at no extra cost to donors. The Fund appreciates supporters and fundraisers who use Gift Aid forms. UK taxpayers can add Gift Aid, allowing the charity to reclaim 25p for every £1 donated. Higher-rate taxpayers can claim extra tax relief and may choose to pass this benefit to a charity. To participate, donors should complete the downloadable Gift Aid form from The Fund’s website and report donations on their tax selfassessment.

Our Lifeboats

We acknowledge the significant contributions of the eight lifeboats currently serving the RNLI. In 2024, The Lifeboat Fund purchased lifeboats were launched on 222 occasions, resulting in the rescue of 5 individuals whose lives were saved and assistance provided to 142 people.

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ot THE LIFEB¢-IAT FUND Civil Service Lifeboats Helping the RNLI save lives at sea Annual Report and Accounts 2024 Il%J 'J OFFICIAL

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Recent history of our Lifeboats

Years	Launches	Lives Saved	People Aided
2024	222	5	142
2023	271	9	231
2022	231	0	233
2021	258	13	455
2020	282	7	351
2019	215	5	254
2018	221	4	254
2017	191	2	208
2016	194	9	174
2015	224	19	244
2014	255	8	367
2013	264	9	277
2012	252	6	281
2011	215	5	141

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Annual Report and Accounts 2024

There are currently six Lifeboat Fund lifeboats in the RNLI active fleet:

Mr Eric Sharpe, Cromer Photo: RNLI/Neil Longdin

Duke of Edinburgh, Wells-Next-The-Sea

Photo: RNLI/Leanne McColm

Charles Dibdin, New Brighton

Photo: RNLI

Sgt. Bob Martin, Poole

Photo: RNLI

Mudeford Servant, Mudeford

Photo: RNLI/Chris Harris

Hunstanton Flyer, Hunstanton

Photo: RNLI/Nigel Millard

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The relief fleet includes our 2 RNLBs:

Windsor Runner

Fraser Flyer

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2024 Launches and rescues

Name	Base	Type	Launche s	Lives Saved	People Aided
Windsor Runner (Civil Service 42)	Relief Fleet	Trent	4	0	9
Fraser Flyer (Civil Service No 43)	Relief Fleet	Severn	17	0	1
Hunstanton Flyer (Civil Service No 45)	Hunstanton	Hovercraft	4	0	3
Mudeford Servant (Civil Service No 48)	Mudeford	B Class	77	1	59
Sgt. Bob Martin (Civil Service 50)	Poole	Atlantic 85	77	2	55
Charles Dibdin (Civil Service No 51)	New Brighton	Atlantic 85	35	1	11
Duke of Edinburgh	Wells-Next-The- Sea	Shannon Class	2	0	3
Mr Eric Sharpe (Civil Service No 54)	Cromer	D Class	6	1	1
TOTALS			222	5	142

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RNLI Museum at Chatham

Three former Fund-provided lifeboats are on display at the RNLI museum in Chatham, Kent:

Edward Bridges (Torbay, retired 1994)
St Cybi (Holyhead, retired 1980)
North Foreland (Margate, retired 1978)

They can be seen in the “Lifeboat!” Gallery at the Historic Dockyard. The Lifeboat Fund has supported the RNLI with 54 boats and significant funding since 1866.

The Lord Southborough launched in 1920

Since 1866, Civil Service Lifeboats have operated thanks to the ongoing support of current and former Civil servants, BT, and Royal Mail employees across the UK.

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Update from the Scottish Government and Director of Fundraising Angela Saunders

Scottish Government buildings were lit up for the charity in 2024.

The year 2024 was a milestone for our beneficiary and the Scottish Government wanted to mark it in style. In March, our main buildings were lit up in RNLI colours, with associated publicity to celebrate the big birthday! With my Senior Appeals Champion, I was delighted to attend a thanksgiving service in Glasgow Cathedral. Our Appeal included the usual wide range of activities – everything from cake sales to Christmas carols! The annual golf event delivered its best-yet fundraising total, with our highest ever number of participants, whose generosity resulted in our most lucrative raffle. Working with corporate partners has proved most positive over the years and our staff restaurant providers organised a charity hamper raffle which made a fine contribution to funds. Meanwhile, our self-perpetuating charity bookstalls continue to support the cause, and our communications team keeps the Lifeboat Fund in colleagues’ consciousness – all donations and support are hugely appreciated.”

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Annual Report and Accounts 2024

Trustees, the Council and Responsibilities

The Lifeboat Fund is governed by a Council under a Constitution, which appoints Executive Committee members as Trustees.

New Trustees must review “The Essential Trustee” from the Charity Commission and guidance from the Office of the Scottish Charity Regulator to understand their responsibilities, as The Fund is registered in Scotland.

The Trustees who have served on the Executive Committee during the year ended 31 December 2024 are:

Name Period in Post if not for Whole Year

Simon Case CVO (Chair) Resigned November 2024 John-Paul Marks CB Appointed May 2025 Frances Kilner MBE (Deputy Chair) Stood down as Deputy Chair 11 July 2025 Matthew Briggs (Deputy Chair) Appointed 11 July 2025 Marie-Clare (Honorary Treasurer) Christopher Lamb BEM (Honorary Secretary) Angela Saunders (Fundraising Director) Jon Davies Resigned 11 July 2025 Corin Robertson Scott McPherson Resigned June 2024 Mike Robinson Mike Lawler James Dunstan Toni Court Andy Headworth Matthew Briggs Jonathan Smith Andrew Goodman Appointed 11 July 2025 Colin Billingsley MBE Appointed 11 July 2025

Members of the Council – Lead Fundraisers

The Council of The Lifeboat Fund includes representatives from Civil Service organisations, as well as Trustees and Officers. All serve voluntarily and represent The Fund within their organisations.

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Trustees’ Responsibilities

The Trustees are responsible for the administration and management of The Fund. Trustee and officer appointments are confirmed by the Council at the AGM. The Honorary Secretary and Honorary Treasurer handle the charity’s daily operations, guided by the Executive Committee of Trustees. Council members are involved in fundraising activities within their organisations.

The Trustees are required to prepare the Trustees’ Report and Financial Statements in line with relevant law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law in England and Wales requires Trustees to produce financial statements for each year that present a true and fair view of the charity’s position and the income and use of resources during 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 accounting standards 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and trust deed. Trustees should also ensure the financial statements comply with relevant Scottish legislation: the Charities and Trustee Investment (Scotland) Act 2005 and associated Charities Accounts (Scotland) Regulations 2006.

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Trustees’ Responsibilities continued

The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. They are also responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. (Legislation in the United Kingdom which governs the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.)

This report was approved by the Trustees on 11 July 2025 and signed on their behalf by:

JP Marks Chair on behalf of the Trustees

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Annual Report and Accounts 2024

2024 Financial Summary

The Lifeboat Fund generated voluntary income of £39,418 in 2024 (against £48,028 in 2023).

Analysis of Donations and Legacies Received

	Total Funds at 2024	Total Funds at 2023
	£	£

Donations received gross of cost of distributing payroll and pension-giving costs	31,826	30,609
Designated Fund - BT Payroll Giving	4,658	6,006
Legacies	-	8,176
Donations received via RNLI	834	1,437

Donated services
Cost of services of the Independent Examiner	2,100	1,800
Total donations and legacies	39,418	48,028

Use of Funds

As in previous years, a cash balance is held to meet planned expenditure, and we aim to keep this at a level proportionate to spend. We had ongoing issues with access to the charity bank account in 2024 following 100% turnover in senior officials which was compounded by a change of registered address. We regained full access in May 2025. In mitigation, the trustees agreed that the reserve fund held by the RNLI would be used to meet the 2024 targets agreed in terms of specific areas of funding. Now that the bank access is restored we anticipate bank account balances to be in line with those agreed by the trustees, aiming for around £10,000 retained in total. The total cash at bank and in hand was £67,852 as of 31 December 2024, compared to £36,596 as of 31 December 2023.

The RNLI holds our donations in a restricted fund which had a closing balance as of 31 December 2024 of £387,577 compared to £441,910 in 2023.

The Lifeboat Fund is wholly dependent upon the services of unpaid volunteers and donations in kind. We would therefore wish to acknowledge the contribution of the Civil Service in donating the services of its Honorary Treasurer, Honorary Secretary and of Kreston Reeves LLP in donating their services as the Honorary Independent Examiner. We greatly appreciate their support.

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Annual Report and Accounts 2024

Risk Management

Risks are assessed as part of the agreed annual financial plan. There are no high risks identified in relation to The Lifeboat Fund’s financial position given that The Fund passes all its receipts on to the RNLI to invest and hold in the restricted fund. Any risks in relation to a reduction in income are mitigated by either a subsequent change to the planned expenditure, or a decision to utilise a greater proportion of reserves in year.

Remuneration To Charity Trustees

No remuneration or other benefits were paid from the charity to a Trustee.

Relationship with Other Charities

Since its foundation in 1866, the Communications and Public Service Lifeboat Fund has become the longest-serving and one of the biggest single supporters of the RNLI. Supporting the RNLI remains its sole purpose.

The RNLI is a registered charity which exists to save lives at sea by providing, on call, a 24hour search and rescue service to 100 nautical miles out from the coast of the UK and Republic of Ireland, and a seasonal lifeguard service, with more than 1,000 lifeguards on over 180 beaches around the UK. The RNLI also operates a specialist flood rescue team which can respond anywhere across the UK and Ireland when inland flooding puts lives at risk.

The RNLI depends entirely on voluntary giving and legacies for its income, and for the most part on volunteers to crew its lifeboats, which are based at 238 lifeboat stations. The support given by The Lifeboat Fund to the RNLI helps to maintain over 340 lifeboats and four hovercrafts in its active fleet.

It costs over £160 million every year to run the RNLI. The donations which provide that income are put to very good use – the RNLI’s volunteer crews rescued more than 17,100 people in the last two years alone: an average of 23 people every day.

The RNLI pays for most substantial expenditure by The Lifeboat Fund out of restricted funds, held as explained earlier in the report, subject to the approval of The Fund’s Executive Committee. At the end of each financial year, the RNLI provides The Fund with a Statement of Account, which agrees the amount held by the RNLI in a restricted fund on behalf of The Lifeboat Fund and which is reflected in the additional note set out below the Balance Sheet in our financial statements.

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Annual Report and Accounts 2024

Independent Examiner's Report for the Year Ended 31 December 2024

Independent Examiner's Report to the Trustees of The Lifeboat Fund ('the charity')

I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
The accounts do not accord with those records; or
The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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Independent Examiner's Report for the Year Ended 31 December 2024

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.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's 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 charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 18 September 2025

M K R Dyer ACA MAAT

Kreston Reeves LLP

Chartered Accountants

37 St Margaret’s Street

Canterbury

Kent

CT1 2TU

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Annual Report and Accounts 2024

Statement of Financial Activities for year ended 31 December 2024

	Restricted Funds at 2024	Unrestricted Funds at 2024	Total Funds at 2024	Total
				Funds at
				2023
Note	£	£	£	£

Income and endowments from:	-	39,418 163	39,418
Donations and legacies 2				48,028
Investments 3	-		163	129

Total	-	39,581	39,581	48,157

Expenditure on:
Raising funds 4	- -	2,946 7,592	2,946 7,592	448
Charitable activities 4				67,243

Total	-	10,538	10,538	67,691

Net movement in funds	-	29,043	29,043	(19,534)

Reconciliation of funds:
Total funds brought forward	25,290	11,306	36,596	56,130
Total funds carried forward	25,290	40,349	65,639	36,596

The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 22 to 32 form part of these financial statements.

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Annual Report and Accounts 2024

Balance Sheet as at 31 December 2024

Note	2024 2023 £ £

Current Assets
Cash at bank and in hand	67,852 36,596
Total current assets	67,852 36,596

Liabilities
Creditors: Amounts falling due within one year 5	(2,213) -


Total net assets / (liabilities)	65,639 36,596

The funds of the charity
Unrestricted funds 8	40,349 11,306
Restricted funds 8	25,290 25,290
Total funds	65,639 36,596

The financial statements were approved by the Trustees on 11 July 2025 and signed on their behalf by:

Marie-Clare Stone

Honorary Treasurer

Chair

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Annual Report and Accounts 2024

Notes to the Accounts

1. Accounting Policies

1.1. Basis of preparation of accounts

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Lifeboat Fund 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.

1.2. Fund accounting

Unrestricted funds are funds that are available for use at the discretion of the Trustees to advance the general objectives of the charity and that have not been designated for other purposes.

Please see the Trustees Report for wording around the source and purpose of the Charity’s restricted funds.

1.3. Income

All income is recognised once the Lifeboat Fund has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

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For legacies, entitlement is taken as the earlier of the date on which either: the Lifeboat Fund is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Lifeboat Fund has been notified of the executor's intention to make a distribution. Where legacies have been notified to the Lifeboat Fund, or the Lifeboat Fund is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the Lifeboat Fund has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Lifeboat Fund of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised but refer to the Trustees' report for more information about their contribution.

1.4. Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual’s basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Governance costs are those incurred in connection with administration of the Lifeboat Fund and compliance with constitutional and statutory requirements.

1.5. Value Added Tax

Value Added Tax is not recoverable by the charity and, as such, is included in the relevant costs in the Statement of Financial Activities.

1.6. Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Lifeboat Fund; this is normally upon notification of the interest paid or payable by the Bank.

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1.7. Going concern

The Trustees assess whether the use of going concern is appropriate i.e., whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

1.8. Cash at bank and in hand

Cash at bank and 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.

1.9. Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date because of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1.10. 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 except for bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11. Taxation

The Lifeboat Fund is a registered charity and accordingly no provision is considered necessary for taxation.

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1.12. Critical accounting estimates and areas of judgement

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 Charity does not currently have any significant accounting estimates or areas of judgement.

1.13. General information

The Lifeboat Fund is an unincorporated charity, in England and Wales, and in Scotland, with the charity registration numbers 248421 and SC041904 respectively. The charity’s registered office is 6th Floor Fry, 2 Marsham Street, London. SW1P 4DF. The objectives of the Charity continue to be to support the vital work of the Royal National Lifeboat Institution (RNLI), saving lives and rescuing people at sea, on our rivers and from floods.

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Annual Report and Accounts 2024 Notes to the Financial Statements for the Year Ended 31 December 2024

2. Analysis of Donations and Legacies Received

	Restricted Unrestricted Total Total
	Funds at Funds at Funds at Funds at
	2024 2024 2024 2023
	Note £ £ £ £

Donations received gross of cost of distributing payroll and pension- giving costs Designated Fund - BT Payroll Giving Legacies	6 - 31,826 31,826 30,609
	- 4,658 4,658 6,006
	6 - - - 8,176 - 834 834 1,437 - 2,100 2,100 1,800
Donations received via RNLI

Donated services
Cost of services of the Independent Examiner
Total donations and legacies	- 39,418 39,418 48,028

Total 2023	48,028 48,028

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Annual Report and Accounts 2024

3. Analysis of Investments

3. Analysis of Investments
	Restricted Unrestricted Total Total
	Funds at Funds at Funds at Funds at
	2024 2024 2024 2023
	£ £ £ £

Bank interest received	- 163 163 129
	- 163 163 129

Total 2023	- 129 129

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4. Analysis of Expenditure

4. Analysis of Expenditure
	Restricted Unrestricted Total Total
	Funds at Funds at Funds at Funds at
	2024 2024 2024 2023
	£ £ £ £

Raising funds
Scottish Government (green fees)	- 2,213 2,213 -
Miscellaneous	- 733 733 448
	- 2,946 2,946 448

Total 2023	- 448 448


Charitable activities
Donations passed to the RNLI	- - - 58,000
Designated Fund - BT Payroll Giving Other amounts received directly by the RNLI	- 4,658 4,658 6,006
	- 834 834 1,437
Independent Examiners Fee	- 2,100 2,100 1,800
	- 7,592 7,592 67,243

Total 2023	- 67,243 67,243

5. Creditors: Amounts falling due within one year

	2024 2023
	£ £

SG Golf Club Green Fees	2,213 -
	2,213 -

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6. Summary of Contributions to the Fund

	Restricted	Unrestricted	Total	Total
	Funds at	Funds at	Funds at	Funds at
	2024	2024	2024	2023
	£	£	£	£

Charities - Pension and Payroll Giving	-	15,728	15,728	16,665
Legacies	-	-	-	8,176
Department for Work and Pensions	-	155	155	1,640
Scottish Government	-	4,961	4,961	3,886
Scottish Government (green fees)	-	2,213	2,213	-
Miscellaneous	-	5,170	5,170	1,993
Online	-	2,243	2,243	3,093
Civil Service Pensioner's Alliance	-	1,357	1,357	712
FCDO	-	-	-	450
GCHQ	-	-	-	2,170
	-	31,826	31,826	38,786

Total 2023		38,786	38,786

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Annual Report and Accounts 2024

Balance in RNLI Restricted Funds

			2024	2023 £ 415,520 58,000 36,248 6,006 1,437 (30,000) (7,300) (10,000) (10,000) (18,000) - - - - - - - - - - 441,910
			£
		Opening balance in RNLI Restricted funds for the Lifeboat Fund Lifeboat funds donations to RNLI	441,910
			-
		Investment Income	32,175
		Designated Fund - BT Payroll Giving Other amounts received directly by the RNLI FAD 5764 Running Costs at Blackpool, Broughty Ferry and Whitby FAD 6082 Running Costs at Blackpool FAD 6083 Running Costs at Broughty Ferry FAD 6084 Running Costs at Whitby FAD 6160 International Project - Tanzania FAD 6087 Running costs at Blackpool FAD 5936 Running costs at Blackpool FAD 6086 Running costs at Stonehaven FAD 5977 Running costs at Stonehaven FAD 6088 Running costs at Tower Pier FAD 5937 Running costs at Tower Pier FAD 6085 Running costs at Whitby FAD 5938 Running costs at Whitby FAD 5978 Shoreworks at Tower Pier FAD 7068 International Work Tanzania	4,658
			834
			-
			-
			-
			-
			-
			(8,000)
			(10,000)
			(8,700)
			(9,300)
			(8,000)
			(10,000)
			(8,000)
			(10,000)
			(10,000)
			(10,000)

		Closing balance in RNLI Restricted funds for the Lifeboat Fund	387,577

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Annual Report and Accounts 2024

8. Statement of Funds

	Current Year	Brought Income Expenditure Carried Forward Forward £ £ £ £ 11,306 39,581 (10,538) 40,349 25,290 - - 25,290 36,596 39,581 (10,538) 65,639 Brought Income Expenditure Carried Forward Forward £ £ £ £ 30,840 48,157 (67,691) 11,306 25,290 - - 25,290 56,130 48,157 (67,691) _36,596 _


	Unrestricted fund
	General fund

	Restricted fund
	RNLI fund




	Prior Year


	Unrestricted fund
	General fund

	Restricted fund
	RNLI fund

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Annual Report and Accounts 2024

9. Analysis of Net Assets Between Funds

	Current Year	Restricted Unrestricted Total Total Funds at Funds at Funds at Funds at 2024 2024 2024 2023 £ £ £ £ 25,290 42,562 67,852 36,596 (2,213) (2,213) - 25,290 40,349 65,639 36,596 Restricted Unrestricted Total Total Funds at Funds at Funds at Funds at 2023 2023 2023 2022 £ £ £ £ 25,290 11,306 36,596 56,130 25,290 11,306 36,596 56,130




	Current assets
	Creditors:amounts falling due within one year




	Prior Year




	Current assets

10. Trustees’ remuneration and expenses

Neither Trustees, nor any person connected with them, received any remuneration or other benefits for either year. None of the Trustees were reimbursed in either year for any expenses incurred in fulfilling their trustee duties. (2023: Nil)

11. Related Party Transactions

The Charity has not undertaken any related party transactions during the financial year and at the Balance Sheet date there are no balances outstanding with any related parties of the Charity.

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Annual Report and Accounts 2024

How to Contact Us

Online

Website: www.thelifeboatfund.org.uk Twitter: @FundLifeboat Email: LIFEBOAT.FUND@DWP.GOV.UK

Registered Address

FAO - The Civil Service Lifeboat Fund

2 St Peter’s Square, MANCHESTER, M2 3AA

Independent Examiner

Mike Dyer

Kreston Reeves LLP; 37 St Margaret's Street, Canterbury, Kent, CT1 2TU Tel: +44 (0)1227 768231

Our thanks go to the RNLI and those who kindly provided many of the photos and articles in this publication

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