COMPANY REGISTRATION NUMBER: 00993228
CHARITY REGISTRATION NUMBER: 262126
Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Financial statements
31 December 2024

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Financial statements
Year ended 31 December 2024
P•g•
Trustees. annual report {incorporating the directors, report)
Independent auditor's ￿port lo the mernbefs
10
Statement of financAal activities (including income and expenditure account)
14
Balance sheet
15
Statement of ¢ash flows
16
Noles lo the financial stalernents
17

Caister Volunteer Lifeboat Service Llmlted
Company Limited by Guarantee
Trustees. annual report lincorporating the directors, report)
Year ended 31 December 2024
The trustees, who are also the diredors for the purposes of company law, present their report and the
rinancial statements of the tharty for the yeaf ended 31 December 2024.
The financial statements have bèèn prepared in accordance with the accounting poliues sel out in notes to
the accounts and comply with the charity'g governiTig docurnenl, thè Charities Acl 2011 and Companiès Act
2006 and Accovnling and Reporting by Charities.. Slatement of Rècommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Repotting Stsndard applicable ir¢ the UK
and Republic of Ireland published in October 2019.
R•for•n¢• and administrativo d•talls
Regi$tsrnd ¢harfty namg
C3istsr Volunteer Lifeboat Serviee Limiled
Charlty rngl6tratlon numbfrr
262126
Company Tegl$tr8tlon numbgr
00993228
Prln¢lpal office and rngl$t•red
offl¢•
Lifeboat Slalion
Tan Lane
Caisl&r on Sea
Great Yarmouth
Norfolk
NR30 5DJ
The tru$tee¥
Tho tru$lees who seNed during the year and al the date of approval were as folk)ws'.
Paul Garrod Ichairmanl
Andrew Tumer (Vice Chairman)
Guy Gib50n ICox$wainl
exander Low (Secretary)
Elaine Anderton (Resigned 1 October 2024)
Jason Delf
Richard Milès
Paul Williams
Kevin Wood

Calster Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Trustees, annual report (incorporating the directors. report) {¢onthued)
Year ended 31 December 2024
Auditor
Lovewell Blake LLP
Chartered accountanls & statLrtory audilor
Bankside 300
Peachman Way
Broadland Bu5ine55 Park
NoFwi¢h
NR7 OLB
Solicltors
HKB Wiltshires
16117 SoLtth Quay
Great Yamiouth
Norfolk
NR30 2RA
Banker9
Bardays Bank P
Leicester
Leicestershire
LE87 288
HSBC Holdings PIC
181 King Street
Great Yarmouth
Norfolk
NR30 1LS
Nafvlest Bank PIC
Chalham, Waterside Court
Chatham Maritimè
ME4 4RT

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Trustees, annual report lincorporating the dlrectors, report) fcontsnued)
Year ended 31 December 2024
Oblèctlves and a¢tlvltle$
The objective of the charity 15 the savin9 of livos of those in danger on the Sea and shores of the East
Anglian Coastline.
Publi¢ benefft
The Trustees believe that the charitable objects are for the public benefit espeually bècaus& of the public's
in¢rea$ing lack of awareness of the risks associated with se8 and water bome activities.
The Trustees have ¢omplied with their duty in Section 17 of the Charities A¢t 2011 to have due regard to
guidance published by the Charity Commission, induding public benefit.
Achievemtsnts and p•rfomiance
2024 has been an exciting year for CVLS due the arrÉval at station of our new lrfeboal, ￿rrIage and tractor
and the opèning of our café al the lrf¢boat station.
It has been 8 memorabla year both opeTalionally and adminislralivety for Ihts Directors, crew members and
volunteers of the Cai51er Volunteer Lifeboat Service C'CVLS'I.
The Inshore Lifeboat IILB) h8$ mel all our expectslion5. Wrth the Talus tractor meeting all the ILB
requirements.
Th& Olfshore Lifeboat IBernard Matthews 11) performed well in her final year al sta￿0￿. with a problems
relatsng to the age of the boat.
This year we continued to maintain thè organisational capability and effirAen¢y with emphasis on health and
safety as well as training lor Ihe crew membèrs and volunteers, all ol which have contributed to the
wellbeing of the organisalion. During 2024, the CVLS continued in its endeavours of 5awng lives of those in
dan9èr on the sea and shores of the East Anglian cAJaslline, and in this regard, the official launches for the
inshore lifeboat I'ILB") and the all-weath8r lifeboat C'ALB") and lifeboat 45-01 were as follows..
Bèmard Matthew511
17th April 2024
Report of dislre5s beacon
Seaiched
30th May 2024
Motor cruiser JENNY
Saved vessel and two
I. September 2024
Se8r¢h for missing person
Searched
5° September 2024
Search for missing swlmmer
Searthed
21" September 2024
Medi-vac from Supply vessel FOUR WIND
Person transferred to shore
18° December 2024
Search for missing pers(In
Searched
Llfeboat 45-01
19° August 2024
Person in the water
Gave assistan¢e

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Trustees, annual report (incorporating the directors. report) (¢i)ntinu8dJ
Year ended 31 December 2024
Fr•d Dyble 11
30° May 2024
Casualties from MIC JENNY transferred to
shore
Persons in the water
Gave assistance
1 5° July 2024
5° September 2024
Gave assistance
Search for missing swimmer
Saved 1
A seTièS of Standard Operational Procedures have been preparèd and verified and form the basis of
Iraining and operational risk assessment. Heatth and safety remains an inlegTal part of our opèration, and
the Trustees are pleased to state that there have not bèèn any inudents or accjdents during the yèar.
To rnaintain rigorous HSSE poliryes and procedures the CVLS have retained thè services of an external
professional health and safety ￿nsultant lo ensure we are keeping abreast of any ¢hange5 in the rules and
regulations.
Thè CVLS manages the adminislralive and operational risks by monllorlng them on a regular basis, The
current risk5 relale lo the organisation's business pÈrform8nce. mission, services provided. feputalion,
financial stability and growth for future genefalions. In this regard. the board of trustèes ensure that all
reasonable steps are taken to mitigaté such risks by using professional advice, trustee and crew Iiaining,
appropriate operational proeedurÈ$ and polic¢es. the maintenance of the lifeboats and life5aving equipment
as well as insurance ¢overing third party risks.
The CVLS ¢8sh ¥eserves are primarily held in investments, which are rÈMewed on a monthly basis by the
CVLS financial asset management committee 8nd quartedy with our exlemal financial advisors. We are
continuir¢g to adapt a cau¢ious and mixèd prograrn lo balance relums on our investmènts with any potenlial
risks.

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Trustees, annual report (incorporating the directors, report) {cortlnu8d)
Year ended 31 December 2024
Flnanclal revlew
Prlnclpal fundlng sources
The majority of the charbty's income is from donations, lega¢les. fundraising and investment in¢ome.
Results thé ￿ar
The results lor the year are shown in the accounts attached lo this report. The total income amounted to
£644.407 12023 - £565.7841 of which £410,480 12023 £297,850) came by way of legacies. The total
expenditure was £358,178 (2023 - £308,609118aving a surplus for the year. beforè unrealised investment
gains and losses, of £286.229 {2023 £257.1751. The Twslees consider il prudent to sel a target s¢Jrplus
for the year of £50.OCK) over and above anticipated operational Costs so that Designated Long Temi Funds
will glow al a pace to counter write offs and depreciation thus when renewals of equipment are required the
funds will be available. The TTuslees consider the finances of the charjty to be ￿ a Sound basi5.
R•s•Nes and investments polley
At the 31 December 2024 the charity had free resetves lexduding designated funds) comprisin9
unrestricted debtors, cash and creditors of £716.04612023'. £633,304>. Also as al 31 December 2024 the
restricted funds of the charity were £19.968 {2023." £20,708) and the designated funds were £750.467
12023. £1,160.7791.
The CVLS cash re$èrves are primarily held in invèstmènts, which are reviewed on a monthly basis by the
CVLS Iruslees and qu8rteJly wrth our external finanual advisors. We afe continuing to adapt 8 Cautious an
mixed program lo bal8n¢e réturns on our investments with any pl)I￿11a1 risks.
Advice will b& tsken again on the investment of reserves in view of the current market trends and the
requirement that Ihey be readily available. Fund5 arè also rèquired for the lulure daity running ol the st8tFon.
The charity maintains a minimum level of reserve5 to manage the risk of a downtum in fvndiaising income
wfthout detriment to the life saving sèrvices provided. 11 rnusl continuo lo work hard in the very competitive
Work ol tharTrty fttnd raising lo raise sufficient income lo cover ils annual running cosls and generate
additional funds for capital expenditure on Ihe lifeboat and lrfeboat station. The Trusleas do not consider the
reserye5 to be excessive. The Trustees individualty and colle¢tiVgly believe the finances of tho ¢haiity are
satisfactory.

Caister Volunteer Lifeboat Service Llmlted
Company Limitsd by Guarantee
Trustees, annual report (incorporating the dlrectors. reportl f¢¢MLlnuedl
Year ended 31 December 2024
Plan$ forfuture perfods
The directors continue to monitor the >year business plan regularly. We shall eonlinue with our program to
increase income, reduce gxpènses review environmental issues.
In 2024 our boat committee was busy overseeing the complètion and arriv81 of lifeboat 45-01, tractor and
earriage. Last year we mentioned that we were getting into a position ol having one of the best sel up5 of
lifeboat station in the country. We now think that we have Teached that goal, with a lew teething problems
with lifeboat 4&01 that arè èasily rectified, either through sts manufacturer or our dedicated crew
themselves. The organisation is now something we can all be proud ol and a great legacy for us lo leave for
the future to Caisler. the Borough of Greal Yamiouth and in fact the whole of Norfolk.
2025 should also be an exciting year with all of our hard working volunteers manning our shop and
museum. which have both gone from st￿n91h lo strength over the last year. The new lifeboat 45-01 will be
on station in the early part ol January 2025 and the Bemard Matthews 11 will leave Caisler on her final
voyage lo pastures in Holland.
The continuing succe55 of CVLS 15 dependent upon the teamwork of Ihe crew members and volunteers of
the CVLS and the Trustees extend Iheir sincere appreciation lo all of them for the dedication and Support
thèy have provided lo our organisation in the past yèar.
Furthermore. the Chair extènds sTrncere appreciation of the board of trustees, ¢rew members and volunteers
and to all those org8nis*ions and indiwdvals who have continued lo financtally support the CVLS during
2024. As an independent and volLtntary charity we would not be able lo function were it not f(>r the
generosty of the community and their continued support.
Stru¢ture, governanc• and manag•m•nt
Governing doeumènt
Caistèr Volunteer Lifeboat Service Limited is a company limited by guarantee governod by ils Memorandum
and Articles of Assoc¢ation dated 2 November 1970 85 8rfjended 14 July 2004.
Appointment of trustees
Tr¢Jstees arè appointed a5 and when Tequired from pèrsons who are consideied to have appropriate
knowlèdge and experience lo help run the charity. As sel out in the Articles of Association and all members
receiv8 notices, are circulated prior to the AGM for nomination5. Trvslees retire by rotation 1113rd each
yearl bul all may appty for re-election. Thère may be a minimurn of 8 trustees and a maximurn 0115. All
trustees are given specific responsibilblies.
The Tnjslees. who are also directors for the purposes of company law and who served during the year and
up to the date of this report are sel out on page 1 including the dates of any changes.

Caister Volunteer Lifeboat Service Limlted
Company Limited by Guarantee
Trustees. annual report (incorporatlng the directors. report) (tonunuedj
Year ended 31 December 2024
StructUT•I gov•man¢e and monaoom•nt{eOnlinuedJ
Twsts•s Induction and trnlnlng
New Trustees are provided with a brief of the charity and its fun¢tions and are given copie5 Of..
Memorandum and Arti¢l¢s ofAssocAation',
Latest ac¢ounts
Minutes of the last AGM and of the last Ih¥ee Difectors meetings
Trustee5 Duties
Charity Commission booklel'The Essential Trustee.. what you need to know, what you need lo do".
All Trustees arè èncouraged and eXP￿ted to attend necessary training and reviews of new Iruslee and
charity law requ1￿montS.
Organl$*tlonalstructure
The Trustees are thè Council Members and Dire¢tor$ of the c4)mpany. They meet regularly throughout the
year lo transact the charlty's business. Truslees are expectsd to accept responsibilities for various lun¢tions
ol the charity and lo sit on Su￿¢0mMitteeS (which report monlhlyl ¢overin9.'
he8￿h and safely
propety.,
opeTalions'. and
visitors, ceTilre.
As in previous years the charity is depend&nl on, and very grateful for, the efforts of a loyal groLtp of
volunteers who help with the general running of the tharity.
Govemance and Intemal control
Risk assessment. training and updating working pra¢tices is an essential part of the senrice. The aim is for
all oparatsonal crew members to be given the opportunity lo train in operating and maintsining all facilities of
the service. All crew tnembers conlinue lo undertake appropriate ongoing training in updating woiking
practices to the standard required by the Royal Yachting Associakn'on IRYAI. A review of woiking
procedures is continually being undertaken. Risk assessments foi lifeboats and Sheds have been
cornpleted. Financial controls are continually ieviewed with advice fiom Lovewell Blake LLP for best
practice methods. Thè TrL*slees also consider Ihgii own individual performances and each committee gives
¥ report ol ils performance lo the AGM.
Fundraising
A fvndraising poliw is provided to all involved in fundraising on behalf ol the charity setting out the expected
gènéral behaviour. methods of asknng for support and ensuring donors are infoTmed and ttgaled fairly. To
the best of their ability the TTUStees monitor those who ale iaisiny funds on behalf of the charity to Ènsure
the policy is adhered to. The charty is not registered with the Fundraising Regulator bui should any
complaints be received by the chaiity regarding fundraising, the Tiustee$ would deal with these accordingly.

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Trustees, annual report (incorporating the directors. report) (¢onlTnued)
Year ended 31 December 2024
Stru¢tUfe, goveman¢e and management (cottthuedj
Rlsk management
The CVLS manages the administr81ive and operational risks by monitoring thèm on a regular basis. The
current risks ièlalé to the organisalions business performance, mission. setvices provided. reputation,
financial stability and growth lor futu￿ generations. In this regard. the Board ol Trustees ensurè that all
reasonable steps are taken to mitigate such nsks by using professional advice, trustee and crew training,
appropriate operational procedurès and policies, the maintenance of Ihe lifeboats and lifesawng equipment
as well as insurance covering third paty risk$.
Trust••s' rèspon$ibiliti¢s ststement
The Iru$lees. who are also directors for the ptsrptssès of company law, are responsible for preparlng the
Itustees. report and Ihe financial statements in a¢¢ord8nce with applicable law and United Kingdom
Accounting Slandards Iunited Kingdom Generally Accepted Accounting Practioel.
Company law requires the charity trustees to prepare financial statements lor each year which give a true
and fair view of the state of affairs of the charitable company and the incoming resources and appli¢ation of
sources. induding the income and expenditure, for that peiiod.
In prepartng these financial slatemenls. the trvstees are required to..
select suitable accounting poliaes and then apply them consistenuy.,
obselve the rnethods and principles in the applicablè Charit¥È$ SORP 2019 (FRS1021.'
make judgments and ac¢tsunttng estimate5 that are reasonable and prudènl.,
statè whether applicable UK accounting standards havè been followed, subject to any material
dèpartuies disdosed and explained in the finanaal statemènts",
prepare the financial statements on the going concern basi5 unless it is inapproprtate to presume that
the charity will continue in businèss.
The trustees 3re responsible for keeping adequate accountin9 re¢oids that are sufficient lo show and
Èxplain the charity's Iransactions and disclose vlith rèasonable accuracy al any time the financial position of
the chaiity and enable them to ensure that the financial stslemenls comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps
fw the prevention and detection ol fraud and other irregularities.
Audltor
Each of the persons who Is a trustee at thè date of approval ofthis report confimis that..
so far as they ale aware. there is no relevant audit information of which the charity's auditor is
unaware.. and
they have taken all steps that they ought io have taken as a trustee to make themselves aware of any
relevant audit information and to establish that the charity's auditor is aware of that information.

Caister Volunteer Lifeboat Service Limited
Company Llmlted by Guarantee
Trustees, annual report {Incorporating the directors, report) lcontinued)
Year ended 31 December 2024
Small company provision$
This report has bean prepared taking advantage of the small comp8nies' exemption of section 415A of the
Companies Act 20(￿.
The trustees, annual report was approved on
trustees by".
4 June 2025
and signed on behalf of the board of
Garrod (Ghairman}
Tnjslee

Calster Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Independent auditorfs report to tho members of Caister Volunteer Llfeboat
Service Llmited
Year ended 31 December 2024
Oplnlon
We have audited Ihe financial statements of Cai51er Volunteer Lifeboat Servicè Limited Ilhe 'chaTty'I for the
year ended 31 December 2024 whi¢h comprise the statement of financial aetiVTbes lincluding income and
expenditure account). balance sheet. statement of cash Ilows and thè Telaled notes, including signifi¢anl
accounting polieiè$. The financial reporting framework that has been applied in their preparation is
applicablè law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting
Stsnd8rd applicable in the UK and Republic of I￿land (United Kingdom Generally Accepted Accounting
Practice).
In 04Jr opinion the financial slalements..
givè a true and fair view of the state of thè ¢harity's affairs as at 31 Decembèr 2024 and of its
incoming r6sources and application of resource5, including ils income 8nd expenditure, for the year
then ended-,
have been properfy prepared in a¢¢ordance wlh United Kingdom Gener￿lY Accepted Ac¢ounling
Practice., and
have been prepared in accordance with the requirèments of the Companies Act 2006.
Basi$ for opinion
We conducted oui audit in ac¢ordan¢e with International Standards on Audf(ing IUKI IISAS IUKII and
applicable law. Our responsibilrtie5 under those standards are further described in the Audilor
responsibilities for the audrt of the financial statements section of our rèport. We are independent of the
charity in accoidance with the ethi￿1 requirements that are ièlev8nt lo our audit of the financial statements
in the UK, induding the FRC'S Ethical Standard, and wè have fulf111ed our other ethical ￿SponSIbl11￿.es in
ac￿rdanCe with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate lo provide a basis for our opinion.
Conclusions relating to golng ¢on¢em
In auditing the financial statements, we have concluded that the Iru51ees' use of the going Coneem basis of
8c¢ounling in the preparation of the financial st3tetnenls 15 appropriate.
Based on the work we have performed, we have not identified any material uncertainties ￿lating lo events
or conditions that, *ndividualty or collectively, may cast Significant doL4bl on the charity's ability lo continue
as a going concern for a period of at leasl ￿e1ve months from when the financial slalements are authorised
for issue.
Our respon5ibilthes and the responsibilttias of the Iiuslees with respect to going concem are described in
the relevant sections of this report.
10

Caister Volunteer Lifeboat Service Llmited
Company Limlted by Guarantee
Independent auditor's report to the members of Calster Volunteer Lifeboat
Serllce Limited le0ntln￿d)
Year ended 31 December 2024
Other Infomiation
The other information comprises the information included in the trustees. annual report, other than the
financ4al statements and our auditor's report Ihereon. The trustees are responsible for the other infomiation.
Our opinion on Ihe financial slalemènts does not covei the other inlormation and, except lo the extent
olhetwisè explioitty slated in our report. we do not express any form ol assurance conClus￿n Ihereon. Our
respon5ibilÉty is to read the other infofmalion and, in doing so, consider whether the other infomation is
materially inconsislenl with the financial stalernents OT our knowledge oblained in the course of the audit. or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparenl
material misstatemenls, we are required to determine whether this gives rise to a material misstatement in
the financi81 slalèmènts themselves. If, based on the wot* we have performed. we conclude Ihat there is
material misslalemenl of this other information. we are ￿qUired to report that fact.
Vve have nothing to report in this regaTd.
Oplnlong on other matter¥ prèserlbed by the Compan1￿ Aet 2006
In our opinion, based on the work undertaken in the course ol the audit..
the information given in thè trustees. Teport which includes the directors, report p￿pared foi the
PL¢rposes of company law, for the financial year lor which the financial statements are prepared is
consistent with thè finanaal stalemen15', and
the directors report included within the trustee5' report has been prepared in accordance with
applicable legal requirements.
Mattorn on which we are requlred to report by exceptlon
In the light of thè kn()wledge and understanding of the charity and its environrrent obtainèd in the course of
the audit, we have not identified material misslalements in U)9 directors, report included within the trustees,
report.
We have nolhlng to report in respect ol the following matters in relation lo whi¢h tho Companies Act 2006
requires u5 to report lo you if, in our opinion..
adequate accounting recoTds have not been kept. or returns adèqualè for OUT audit have not been
received from branch¢s not visited by us., or
the financial staterrlents aTe not in agreement with the 8c¢ounting records and returns., or
certain disclosures of Iruslees, wmunefation sperAfied by law arg not made., or
we have not received all the Information and explanations we require for our audit,. or
the Iruslees wèra not entilled to prepare the financsal statements in accordance with the small
companies regime and lake advantage of the small companies, exemptions in preparing the directOTS'
report and l¥om the requirement lo prepare a strategic ieport.
11

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Independent auditorfs report to the members of Caister Volunteer Llfeboat
Servi¢e Limited (¢ontlnued)
Year ended 31 December 2024
R¢$ponsibilities of trustees
As explained more fully in thè trustees, respon5ibililies statement (sat out on page 8}. the trustees {who aro
also the directors of the ¢harty for the purposes of company lawl are responsible for the preparation ol tho
financial st3tetTren15 and for being satisfied that ihèy give 3 true and fair view, and for such internal control
as the trustees delemiine is necessary to enable thè preparats'on of financial slatem&nts that are free Irom
material Tllisstatement. whether dtje to fraud or error.
In Pfeparing the fjnanclal slalemenls. the trustees are reSponsi￿e for 4$se$sing Ihe charity's abilty to
contsnue as a going concern. disclosing. as applicable, mattars rèlated ¢0 going concern and using the
going eoncem basis of accounting unless the trusteès erther intend lo liquidate the charity or lo cea58
operation5. 01 have no realistic alternative lo do so.
Auditor's responslbllitl•s for the •udit of the financial statements
Our objectives are lo obtain reasonable assuTance aboLrt whether the financial slalemenls as a whole are
free from material m*$slalemenl, whether due to traud or error, and lo issue an auditorfs report th* indudes
our opsnion. Reasonable assurance is a high I•￿1 of assurance, bul is not a guarantee that an audit
¢onducled in accordance with ISAS IUKI will ahN8ys detect a material misstatement when il exisls.
Misslalements can arise from fraud or errtsr and are considered material if, individually or in the aggregate,
they could reasonably be expected to tnfluence the economic deasions of usets taken on the basis of these
financial statements.
Irrèyularilie5. including fraud, are instances of non-cornpliance with laws and regulations. We design
piocedure5 in line with our responsibilib'es, outlined above, to detect material misslalemenls in respect of
ifTegularities, induding fraud. The èxtènt lo which our procedures are capable of detecting irregularities,
induding fraud is detailed below".
Enquiry ol management and those charged with govèmance.,
Enqulry of entity staff compliance functions to identify any instances of non-complianctt with laws and
regulations,.
Reviewing fin8n¢ial slalernenl disclosures and testing lo supporting documentats'on to assess
compliance w¢lh applicable laws and regulations.
Performing audit work over the risk of management override of controls, indudin9 testing of joumal
entries and other adjustments for appropriateness, evaluating the rationale of Significant transactions
outside the normal course of activrties and reviewing accounting estimates for bias.
Because of the inheienl limitations of an audit, there is a risk that we will not detect all irregularities.
including those leading lo a material misstatement in the financial statements or non-compliance with
regulation. This ￿sk increases the more that compliance with a law or regulation is removed from the events
and transactions reflected in the financial slalemenls, a5 we will be less likely to bècome aware ol instances
ol non-compliance. The risk is also 9realei regarding irregularities occurring due lo fraud lather than error,
as fraud involves intentional concealment. forgery, collusion, omission or misrepre5enlation.
12

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Independent auditorfs report to the members of Caister Volunteer Llfeboat
Service Llmited (conllnued)
Year ended 31 December 2024
A furthèr
description
of our
responsibilile5
available
on
the FRC'S website at
www.frc.oig.uklaudilorsresponsibililies. This des¢ription forms part of our auditorfs report.
U$• of our report
This report is made solely to the charity's members, a5 8 body, in a￿ordanCe with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit woik has been undertaken 50 that we might state to the charity's
mernbers those matters we are required to stale lo them in an auditorfs report and for no other purpose. To
the fulle51 Èxtent permitted by law. we do not accept or assume responsibility lo anyone other than the
charity and the charity's membef5 as a body, fr>r our audit work, ftsr this report. or lor the opinions we have
fom¢d.
Mark Proctor FCA DChA (Sènior Slalulory Auditor)
For and On behalf ol
Lovewell Blake LLP
Chartered accountants & slalutory atsdilor
Bankside 300
Peachman Way
Broadland Busines$ Park
Norwich
NR7 OLB
2310712025
13

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
statement of financial activities
(including income and expenditure account)
Year ended 31 December 2024
2024
Restricted
funds Total fund8
2023
Unrèstrteted
lunds
Total fvnds
Notè
In¢ome and tndowinents
Donations and legacies
Other trading activities
Investment incomo
Other income
507,620
85,400
9,497
40,918
972
508.592
85,400
9,497
40,918
489,081
60,154
16.549
Total income
643.435
972
644,407
565,784
Exp•ndÉiurè
ExpendItU￿ on Taising fijnds..
Costs of other Irading activitiè$
Investment management cost$
Expenditure on charitabl8 a¢tivilies
Total expenditure
141,9931
121,7911
1293,5141
1357,298}
141,993}
121,791)
1294,3941
131,6501
116.5751
1260,3841
1308,6091
10
1880}
1880)
1358.1781
Nèt Incomè and net movements in funds
b¥fore gain5 and losses on Inv•$tments
286,137
92
286.229
257,175
Net gains on investments
12
130,137
130,137
99,224
Net Ineomt btfore transfer of funds
416.274
92
416.366
356.399
Transfers be￿een funds
832
{832)
Net movement in funds
417,106
1740)
416,366
356,399
Reconcilia￿0￿ of fund¥
Total funds brought lo¥waTd
Total funds carried for4vard
5,440,562
20,708
5,487,270
5,104,871
5,857.668
19,968
5,877.636
5,461,270
The slalernent of financial activities includes all gains and losses reeognised in the year.
All income and expenditure derive Ifom continuing acl'vilies.
The notes on pages 17 to 28 fonn part of thesè Ilnanelal $tstements.
14

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Balance sheet
31 December 2024
2024
2023
Nots
Flxed assèts
Tangible fixed assets
Inve51menls
17
18
3,670,169
1,471.453
5,141,622
3.356,775
1,450,483
4.807,258
Current assets
Stock
Debtors
Cash al bank and in hand
19
20
26,016
349,421
438,428
33.900
147,514
807.315
813,865
788.729
Cr•ditors: Amounts f#llln9 due within
one yèar
21
{77.8511
1134.71n
Net current assets
736,014
854.012
Total a83ets le$$ ¢urr•nt Ilabllltles
5.877,636
5.877,636
5.461,270
Net •s$•ts
5,461,270
Fund¥ ofthè charity
Restricted funds
Unrestricted funds
19,968
5,857,668
20,708
5,440,562
Total charity fvnds
22
5.877,636
5,461,270
These financial slatemenls have been propared in accoidance witl) the provisions applicable to companies
subject lo the srnall companies, regime.
These financial statements werè approved by Ihe board of tr stees and aulhorised for i$$ue on
4 June 2025
and are Signed on bèhalf of Ihe boaid by..
au
Garrod {Chairmanl
Trustee
Tu
erl
Chairman)
Trustee
Company regislr8tr.on number.. 00993228
The notès on pages 17 to 28 fomi part of these financlal ¥tstsm¥nts.
15

Caister Volunteer Lifeboat Service Llmlted
Company Limited by Guarantee
statement of cash flows
Year ended 31 December 2024
2024
2023
Cash flow8 from operating actlvltl•s
Nel income
416,366
356,399
Adjustments for."
Depreciation ol tangible fixed 855ets
Net gains on investrnenls
Dividends. interest and rents from investments
Othèr interest receivable and similar income
Gains on disposal of langible fixed assets
112,670
{130,137
{3.1761
{6.3211
(40,9181
91,317
199,2241
19,25n
17.2921
Changes in..
Stock
Tradè and other debtors
Trade and other creditors
7.884
1201.9071
156,8661
97,595
123,631)
13,584}
82,844
Cash generated from operallon8
367,572
Interest received
8,321
7,292
Net cash from operating acllvitleg
103,916
394,864
Cash flows from Invèstlng activities
Dividends, interest and len15 from investments
Purchase of tangible a55els
Proceeds from sale of tangible assets
Purchase5 of other investments
Pioceeds from sale of other investments
3,176
9,257
{482.646} 11.392,9341
97.500
1428.0171
537,184
1538.1851
543.468
Net cash used in investing activities
{272.8031 {1.378.3941
Net decr8ase In eash and ¢oJh equlvalents
Cash and tash equivolents at boglnnlng of y•ar
Cash and cash •quiVa￿ftts at end of y•ar
1168,8871
607.315
1983,530)
1,590,845
438,428
607,315
The notes on page$ 17 to 28 forni part of those flnanelal $tstemeTts.
16

Caister Volunteer Lifeboat Service Limited
Company LSmited by Guarantee
Notes to the financial statements
Year ended 31 December 2024
G•n¢ral Information
The ch8fity 1$ a public benefit entity and a private company limitèd by guarantee, fegislered in
England and Walès and a registered charity in England and Wale5. The address of the registered
office is Lifeboat Statson, Tan Lane, Caister on Se8, Greal Yarmouth, Norfolk, NR30 5DJ.
Ststsm•nt of complian¢•
The charity ¢onslbtutes a public benefit entity as defined by FRS 102. The financial slalements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recomrnended Pr8Ctice applicable to chaTilies preparing their accounts in ac¢ordance with Ihe
Financial Reporting Standard applicable in Ihe UK and Republic of Ireland issued in Oetobei 2019, the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102}, the
Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounling Practice.
Ac¢ountlng pollcles
{al Basb5 of proparatlon
The financial statements have been prepared on the hisl¢tt¢al cost basis. a5 modiffied by the
revaluation of cèrtain financial assets measured at lair value through Income or expenditure.
Ibl Golng concern
The financi81 statements have been prepared on a going concem basis as the Trsjslees believe that
no material uncertainties exist. The Trustees have considered the level of funds held and the expected
level ol income and expenditure lor 12 months from authoiising these financial $tatements. The
budgeted income and expenditure is sufficient with the ￿Ve1 of reserves for the charity to be able to
continue as a going conceTn.
Icl Judgements and key sources of estimation uncertainty
VAT
Under VAT rules applicable to rescue chariliès the charity has prewously recovered input val on
overheads reslricled at a level agreed by HMRC. In the current and previous financial years,
substantial works havo beèn cornpleted to the pioperty of the charsty in order lo a¢¢ommodate a new
lifeboat. As the property housès, not only the lifeboat. but also the café and the shop. the VAT
recovery on the works has been restricted to 81% being the 8v8rage split of bu5ine55 and non
business Income as per the basis of the calculation by HMRC PTeviousty. The VAT lo be recovered is
induded in debtQf$ at the year end as a claim is yet to be made.
{dl Fund accounting
Unreslri¢ted funds are available for us$ at the discretson of the IrusleÈs to further any of the charity's
purposes.
Designated funds are unrestricted fvnds earniarkéd by the trustees foi particular future project or
commitment.
Re51rietèd funds are subjected to restri¢lions on their expenditure dedared by the donoi OT Ihiough
the terms of an appeal.
17

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financial statements {eonllnuedJ
Year ended 31 December 2024
A¢eountlng policles (conilnued)
(•} Income
All income is ineFuded in tt)e ststemenl of financial activi*'es when enlillemenl has passed to the
charity, it is probable that the economic benefits associated with the Ir8nsaction will flow to the charity
and thè Amount can be reliably measured. The following specific policies are app16ed lo particular
categories of income..
Income from donatton$ or giants Is recognised when there is evidence of entitlement to thè gift,
receipt is probable and its amour71 can be measured relrably.
Pecuniary legaries are recognised as receivable oncè piobate has been granted and notification
has been received. Residuary legaciès are r￿OgniSed as receivable oncè Pfobale has been
granted, notification has been received and where they can be valued. Residuary legarAes with a
life inleresl are only valued where109al title has passed lo the Charity.
Income from donated goods is measured at the fair value of the goods unless this is Impra¢li¢al to
measure reliably, in which case the value ts deiived frorn the cost to the donor or the estimated
resale value. Donated facilrties and sèrvices are recognised in the accounts when received if the
value can be reliably measured. No 8moun15 are inctuded for thè contribution of general
volunteers.
Income from trading 15 included in the year in which it is rèeeivable.
Investment income is induded when rèeéivable.
lfj Expenditure
Expenditure 1$ re￿gnISert on an accruals basis a$ a liability 1$ in¢urTed. Expenditure includes any VAT
which cannot be fully recovered, and is classtfi8d under headings of the statèment of financial
a¢b-vilies lo which it Telates..
Expendiluie on raising funds In¢ludes the costs of all fundraising activitiès, events, non-charitabla
trading actiwlies. and the Sale of donaled goods.
Expendilure on charitsble activities includès all costs incurred by a charity in undertaking acliwties
that further 115 charilable aims lor the bènefit of ils beneficiaries, including thosè support costs and
cost5 ielating to the governance of the ¢harily 8pportioned to charitable activites.
Other expenditure indudes all expenditure that is neither related to raising fvnds for the charity
noi part of its eypendiluie on charitable activities.
All ¢o$ls are allocated to expenditure calegoiies ￿lleCtIng the use of the resour¢e. Direct costs
attributable lo a single actiwty are alloc*ed directly lo that acliwly. Shared costs are apportioned
between the activities they Contribute to on a reasonable, juslifiable and cons151enl basis.
Igl Tangibl• assèts
Fixed 85set5 are slaied al cost of an asset, less accumulated depreciation.
18

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financial statements icontlnu•d)
Year ended 31 December 2024
Accountlng poll¢les (¢onVnu•¢lJ
Ihl 08preclatlon
Depiecialion Is calculated 50 as lo write off the Wst or valuation of an asset. less its residual value,
over the useful economic lile of thal asset 85 foltows..
Long leasehold property
Shed, slipway and Visitor
Centre
Motor Vehicles
Lifeboats and equipment
Straight line over the life of the lea$È
4.76Qh straight line- 25.￿ redUCAr￿ balance
25°A reducing balance
IO•A_ 20°A reducing balance
Assets under conslru¢tion are not depreciated until these are broughl into use.
11} Inv•$tm•nts
Listed investments are measured at fair value with than90$ in fair value being Tecognised in proffil Qr
loss.
Ul Stocks
Stocks afe valued at tho lower of cost and nel realisable value, after making due allowance lor
obsolete and slow moving items.
Ikl Financial instruments
A financial asset or a ffinan¢ial liabilty is recognised only whèn the entty becomes a party to the
contractual provisions of the instrument.
Basic finan￿al instrkjments are initially recognised al the amount receivable 01 payable including any
rel*ed transaction costs, unless the arrangement constitute$ a ffinanang Iransacbon. whe¥e il is
ognised al the present value of the future paymen15 discounted at a market rale of interest for a
similar debt instrument.
Current assets and Cur￿nt liabilities are subsequently measured at the cash or other consideration
eX￿¢ted to be paid 01 received and not disco¢Jnted.
Debt inslrumonls are subsequently measured al amorts'sed cost.
Llmlt•d by guarantse
Caisier Volunteer Lifeboat Service Limitèd is a company limited by guarantee and accordingly does
not have a sha￿ capital. Every member of the company undertakes to contribute such amount as
may be required not exceeding £1 to the as5els of thè company in Ihe evenl if il being wound up while
he or she is a member, or within one yeaT after he or she ¢eases to be a member.
19

Caister Volunteer Lifeboat Servlce Limited
Company Limited by Guarantee
Notes to the financial statements 1¢oftfrnu¢d)
Year ended 31 December 2024
Donatlons and l•gael•s
Unrestrieted
Funds
Reslricled Total Fund$
Funds
2024
Don•tlons
Donations
Gfft aid
70,060
4,834
972
71,032
4,834
L•gaelès
Lega¢ie$
410.480
410,480
Sponsorshlp
Sponsorship
10,000
10,000
Subscrlpllon$
Subscriplion5- 'Friends'
1,330
1,330
Other donatlons and 1•gaci
Collection boxes
10,916
10,916
507,620
972
508,592
Unreslricled
Funds
Restricted Total Funds
Fund$
2023
Donations
Donations
Gift aid
88.781
3.702
89,004
177,785
3,702
Lega¢loS
Legactes
297,850
297,850
Sponsorship
Sponsorship
Sub$¢riptions
Subscriptions - 'Friends'
1,390
7.390
Other donatlon$ and leya¢i•8
Collection boxes
8,354
8,3S4
400,077
89.004
489.081
20

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financial statements i¢onllnué
Year ended 31 December 2024
othor tradlng a¢tlvltle8
Unrestrictad Total Funds Unrèstricted Total Fund5
Funds
2024
Funds
2023
Fundraising speclal events
Cale sales
Souvenir sales
Rental incomg
28.388
3,690
43,530
9,792
28,388
3.690
43,530
9,792
18,714
10,372
31,068
18,724
10,372
31.068
85.400
85,400
60,154
80,154
Investmènt In¢omg
Unrestridèd Total Fund$ Unrestricted Total Funds
Funds
2024
Funds
2023
Investment income
Bank interest receivable
3.176
6.321
3.176
6.321
9,257
7,292
9,257
7,292
9.497
9.497
16,549
16,549
Oth•r Income
Unrestricted Totsl Funds UnTesliicled Total Funds
Funds
2024
Funds
2023
Profit on sale of tangible fixed assets
40.918
40,918
Co$ts of other trading a¢tlvltl¢s
Unreslricied Totsl Funds Unrestricted Totsl Fund5
Funds
2024
Funds
2023
Souvènir costs
Cafè costs
Fundraising evwl$
26.432
1.542
14,019
26,432
1,542
14.019
16,242
3,752
11.656
16.242
3,752
11,656
41.993
41,993
31.650
31,650
10. Investmènt management ¢o$ts
Unresth'cted Total Fund$ Unrestricted Total Funds
Funds
2024
Funds
2023
Portfolig managemenl
21.791
21,791
16,575
16,575
21

Caister Volunteer Llfeboat Service Limited
Company Limited by Guarantee
Notes to the financial statements (conllnutd)
Year ended 31 D8cember 2024
11. ExpendStur• on eh•rltable a¢tSvitle8
Unrestricted
Funds
Restricted Total Fund¥
Funds
2024
Boat and tractor running expenses
Property costs
Office costs
Depreaation
Insurancè
Profession81 fees
Govemance cost5 {seg below)
53,198
64,416
22,069
112,670
15,932
7,336
17,893
820
54,018
64,416
22,129
112,670
15,932
7,336
17,893
60
293,514
880
294,394
Unreslrided
Funds
Restrioled Total Funds
Funds
2023
Bo81 and tractor running expènsès
Property costs
Office costs
Deprecialion
Insurance
Profession81 feey
Govern8nce c051s {5ee below)
78,533
34.785
20,877
91,317
7,272
6,156
18.780
2.604
81,137
34,785
20,937
91.317
7,272
6,156
18,780
257,720
2.664
260,384
Analysis of governaneè eo$ts:
Unreslri¢led
Funds
Restricted Total Funds Total Funds
funds
2024
2023
Auditor remuneration - audit
other seNces
16,800
1,093
16,8(Xl
1.093
14,580
4.200
17,893
17.893
18,780
12. Net gains on Invèstments
Unrèstricted Total Funds Unrestricted Total Funds
Funds
2024
Fund5
2023
G8inslllo$$e$) on other investment
assets
130,137
130.137
99,224
99,224
22

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financial statements (cOn￿nUe￿}
Year ended 31 December 2024
13. Net income
Ng1 income is staled after thaigingllugditin91..
2024
2023
Depreciation of tangible fixèd assets
Gains on disposal of tangible fixed assets
112.670
(40.9181
91,317
14. Auditor• rgmunèration
2024
2023
Fees payable for the audil of the financial statements
16,800
14,580
Fees p8y8ble to the charity's auditor and ils associates for other seNices.'
Other non-audll servi¢es
11,914
8,640
15. Stsff costs
No salaries or wages have been paid to employoès, induding Ihe Trustees, duiing the year.
16. Trustee remuneration #nd èxpènsè$
No remuneration or other benefils from employment wsth the charity or a related entity were receive(I
by the trustees.
No tTUSt•es have claimed expenses or h8d their expenses met by the charity-
23

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financial statements (condnu8dJ
Year ended 31 December 2024
17. Tangible flx•d a$$•ts
Sh•d.
Long sllpway and
leasehold
Visit¢T Asset under
propèrty
Centre construction
Llfeboats
Motor
and
v•hielè$ equipment
Total
Cost
At 1 Jan 2024
Additions
DIspos8ls
Tfansfers
250
1,129,120 3,011.369
57,011
423.560
12,471
993,687
5,146,897
2.075
482,646
(477,3361 1477,3361
760.635
{760,6351
1,946.7fj6 2.674,294
Al 31 De¢ 2024
250
12,471
518,426
5,152,207
Dgpr•clatlon
At 1 Jan 2024
Charge lor the
year
Disposals
At 31 Dèe 2024
140
945,113
9,709
835,160
1.790,122
87,740
690
24.235
112,670
(420.7541 1420,7541
438,641
145 1.032,853
10.399
1,482,038
Carying amount
At 31 Doc 2024
105
913,913 2.674,294
2,072
79,785
3.670.169
Al 31 Dec 2023
110
184.007
3,011,369
2,762
158.527 3,356,775
Projects ￿lating to the slipway works and redesign ol the shed were completed during the year and
Iherefoie transferred Irom assets under construction to shed. slipway and visitor centre.
18. Inv•stm•nts
other
investm•nts
Cost or valuatlon
At 1 January 2024
Additions
Dispos81s
Fair value movements
Cash rnovements
1.450.483
428.017
(488,36n
81,219
101
At 31 Decèmber 2024
1.471,453
Impairn)ent
At 1 January 2024 and 31 De¢ember2024
Carrying amount
At 31 D•cemb•r 2024
1,471.453
At 31 D￿ernber 2023
1.450.483
All investmen18 shown above are held al valu*S0n.
24

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financial ststements iconllnu•dJ
Year ended 31 Dec8mber 2024
18. Investments Icontiny¢d)
Indvded in the fixed a55el investments are cash deposlts which are held within Iho United Kin9dom of
£14.851 12023.. £991 and olheF listéd investments £1,458,602 12023.. £1,450.3841. Fixed asset
investments partly rèpresent the balance of the Desi9nated Lon9 Temi Fund.
The following Investments represent more than 5°h of the fixed asset investrnenls-
2024
2023
Wavèrton Strategic Equty Fund P GBP
Waverton Absolute Return Fund P GBP Acc
Waverton Sleding Bond Fund P GBP In¢
Waverton Real Asset Furbd Class P GBP Dislrubylion
315,985
86,979
188,602
114,670
107,193
86,449
43.066
47,767
19. Stocks
2024
2023
Slock
26,016
33,900
Stock relates lo goods for resale.
20. Debtorn
2024
2023
Trade debtors
Prep8ytnents and accrued income
Other debtois
14.625
36.792
298,004
73
23,835
123,606
147,514
349,421
The ¢harity had contingent 85sets in the fomi of leg8aes due al 31 December 2024 and 31 December
2023. 11 is not possible lo estimate the total financial effect of the legacies and Ihereftsr8 no ac¢rual
has been made.
21. CTedltor8: Amounts falling du• wlthin one year
2024
2023
Trade creditors
Acciuals
Oth6r creditors
9,092
82.759
6,000
95,218
39.499
77,851
134.717
25

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financlal statements (condnued)
Year ended 31 December 2024
22. Analysls of ¢harStable funds
Yèar end•d 31 Decemb•r 2024
Balance at 1
Jan 2024
ILo$sesllgalns Balancfr at
and tran$f•r¥ 31 Dec 2024
Income Exp•ndltur•
Designated lund$
Designated Long Tèrm
Fund
GèFb•ral Funds
1.160.779
4.279.783
1410,3121
541,281
750,467
5.107,201
643,435
1357,2981
5,440.562
643,435
1357.2981
130,969 5,857,668
Restrlcted funds
Harry Pascoè Training
Fund
Annètte Thud¢)w
2Q.708
140
832
18801
19,968
18321
18321
20,708
972
18801
19,968
Total fvnd¥
5,461.270
644,407
1358,178)
130,137 5.877,836
Year ended 31 D*¢ornber 2023
Balance at 1
Jan 2023
ILo$$esllgains Balance at
ond transf•rs 31 Dec 2023
Ineome Expenditur•
Designated funds
Designated Long Tem
Fund
All Weather Lifeboat
Fund
D Cracknell Legacy
1,085.900
74,879 1,160,779
10,000
544,216
{10,OOCII
1544.2161
1479,3371 1,160,779
688,145
4.279,783
1,640.116
3,420.803
General Funds
476,780
1305,9451
1305,9451
5,060,919
476,780
208.808 5,440.562
Restricted funds
Harry Pascoe Training
Fund
New Lifeboat Fund
Annètte Thudow
23.232
653
20,067
{2,664)
20,708
{6531
1108,9311
1109,584)
88,864
43,952
89,004
12.6641
20.708
Total fund$
5.104.871
565,784
1308.609}
99,224 5,461,270
The Designated Funds are held in prÈparalion for Ihe futurt replacement of the All Weather Lifeboat.
The Harry Pascoe Training Fund represents ftEnd5 received in memory of Harry P8scoe for the
training ol lifeboat crew and members.

Caister Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the financial statements iconUnu•dJ
Year ended 31 December 2024
The New Lrfeboal Fynd and Annette Thudow Fund represents funds ￿ceiVed lowar(*s the purch8sa of
a new lifeboat. The transfer from the A Trnette ThU￿OW fund during the yeaT IS towards costs of the new
boat being built which is included in assets unoer constiuclion.
23. Analysis of net assets b¥tw•èn funds
As at 31 Dg¢•mbor 2024
Tangible
rixed assets Investments
Net ¢urront
assèts Total 2024
Restrlcted in¢om• funds
Harry Pascoe Training Fund
19,968
19,968
Unrestricted Income funds
Designated Funds
General Funds
750,467
720.986
750,467
716.046 5,107,201
3.670.169
3,670.169 1,471.453
716.046 5,857,668
Totsl
3,670,169 1.471,453
736.014 5,877,636
As at 31 December 2023
Tanglble
fix•d assets Investments
N•t curr•nt
•$$èts Totsl 2023
Restrlcted income lunds
Harry Pascoe Training Fund
20,708
20,708
Unrèstrl¢ted Income fundg
Designated Funds
Gene{81 Funds
1,160,779
289,704
1,160.779
4,279.783
3,356,775
633,304
3,356,775 1.450,483
633,304 5,440,562
Totsl
3,356,775 1,450.483
654.012 5,461.270
24. Analys18 of ¢hange$ In net debt
At
Al 1 Jan 2024 Cash flows 31 Dec 2024
Cash al bank and in hand
607,315
{168,887)
438.428
27

Calster Volunteer Lifeboat Service Limited
Company Limited by Guarantee
Notes to the flnancial statements (conthimd)
Year ended 31 December 2024
25. Commltment
During the year ended 31 De¢ember 2021 a pfojecl commenced lo build a new lrfeboat for a total cost
of £1,600,000, a further £10.000 wa5 agreed in the prior ygar. The project was completèd duTing the
year ended 31 De¢ember 2024.
Work5 have alscs commenced in relation to slipway works, and thè Challènge and lifeboat carriage.
The final payment in relation to the project has been accnjed within the financial slatements theiefoie
there is no ongoing commitment post year end.
Therè were also works relating lo a project loi the redesign ol the shed. The final payment in relation
to the project has been accrued within the financial statements therelore Iheie is no ongoing
commitment post year end.
26. Relat￿ partl•s
Durlng the year the charity purchased goods and 8ervices trom the following..
Williams Garage IP Williams}- £27812023.. £266 relating to van servi¢ing and tspairs).
White Swan Fish & Seafotsd IP Williams) - £Nil 12023.. £488 relating lo the purchase of fish for fete
dayl.
Furzedown Hotel IP Garrodl- £540 rel81ing to a Christmas meal12023.. £Nill.
£Nil12023'. £Nill was owing lo of frorn the above at the yeaf end.
Donations of £10 were received from Iruslees duTing 1he year12023'. £50).
27. Indemnity insurane•
The chanty paid £829 12023.. £1,508) for insurance lo indemnify irustees and senlor staff from any
loss arising from neglect or defaults of tfuslÈes OT staff and any consequent loss.
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