HAMBLE LIFEBOAT LIMITED
REPORTS AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
| CONTENTS | Pages |
|---|---|
| Company information | 2 |
| Report of the directors | 3-7 |
| Report of the Independent Examiner | 8 |
| Income and expenditure account | 9 |
| Balance sheet | 10 |
| Statement of financial activities | 11-12 |
| Notes to the financial statements | 13-19 |
| Detailed income and expenditure account | 20-23 |
Company number 1082684
Registered charity number 265661
1
HAMBLE LIFEBOAT LIMITED
COMPANY INFORMATION
Registered office
83 Satchell Lane Hamble Southampton Hants SO31 4HH
Boathouse
The Quay Hamble Foreshore Hamble Southampton Hants SO31 4JB
Bankers
Barclays Bank Plc 67B Above Bar Street Southampton SO14 7DZ
National Westminster Bank Plc 416 Bitterne Road Bitterne Village Southampton Hants SO18 1DT
Independent Examiner
Robert Anthony BSc ACA Chartered Accountant 36 Merdon Avenue Chandlers Ford Eastleigh Hants SO53 1EP
2
HAMBLE LIFEBOAT LIMITED
REPORT OF THE DIRECTORS
The directors, as trustees of the charity, present their annual report and financial statements for the year ended 31 December 2023.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The constitution of the charity, being a limited company, is its Memorandum and Articles of Association. Its company number is 1082684 and its registered charity number is 265661. The company is limited by guarantee and has no share capital. The members of the company are prohibited from receiving any share of any surpluses the company may make, these being retained to further its charitable objectives.
The company is wholly dependent on voluntary labour to carry out its activities. It is run by a board of directors, who make decisions on strategy and finance. The directors meet on a regular, usually monthly basis. The day-to-day running of the operations is delegated to the charity’s Lifeboat Operations Manager and Responsible Person under the Rescue Boat Code of Practice (RBCoP), who consults with the lifeboat crew and discusses issues with the Chairman and trustees on a regular basis.
The company reviews the membership of its Board from time to time, and seeks out potential new directors, mainly from contacts made through the activities of the company and its directors. In view of the small size of the company, there is no formal procedure for training and induction of new board members.
DIRECTORS
The directors, being the trustees of the charity, who held office throughout the year, and who remain in office at the date of signing this report are as follows:
Mrs J B Motherwell Mr J Motherwell Mr S Emery Mr J Godwin Mr G Duke
Mr S Emery and Mr G Duke are due to stand down at the forthcoming Annual General meeting and both offer themselves for re-election.
OBJECTIVES AND ACTIVITIES
The charity delivers its public benefit through its principal activity, which is to protect life and relieve suffering and distress amongst persons affected by illness, accidents or natural hazards in the inshore waters of Southampton Water, the Solent, and elsewhere.
The charity delivers this public benefit by operating two inshore rescue boats, which are of the Halmatic Pacific 32 RIB type, powered by Castoldi water jets. The most recent boat is “The John and Violet Hurrell” which was launched in February 2006, and the “Harry Childs” (named in memory of the late Harry Childs), launched in 1996. The use of Castoldi water jets does away with the need for propellers, which makes it ideal for use in rescue operations.
3
HAMBLE LIFEBOAT LIMITED
REPORT OF THE DIRECTORS (continued)
OBJECTIVES AND ACTIVITIES - Continued
The charity also delivers its public benefit by operating a boathouse on the foreshore at Hamble, Hampshire, and this is staffed entirely by volunteers from the local community. The charity maintains these boats to a high standard and one is always moored ready in the water for a speedy response.
ACHIEVEMENTS AND PERFORMANCE
The company attended a total of 125 (2022:108) incidents over the year, assisting approximately 120 (2022: 111) people, of which 17 (2022: 4) were deemed to be lives saved. This makes the service one of the busiest independent inshore rescue services in the country. The volunteer crew amassed TBA (2022: 6,414) hours during the year.
The charity continued to operate from its boatshed on the Hamble foreshore, which was completed in 2017.
Donation income showed a satisfactory increase being £51,152 for the year compared to £30,813 in 2021. Other sources of income, such as fundraising and lotto income however showed a reduction of some £7,000, from £34,486 to £27,917.
The Friends of Hamble Lotto continued to bring in a regular flow of funds, and raised an amount of £14,261 for the charity, compared to £16,478 in the previous year. Other fundraising events brought in £4,316 compared to £6,813. The income generated through the sale of used books reduced from £5,765 to £4,311.
There were no grants received for the purchase of new equipment this year. One restricted donation of £12,246 was received for the purposes of funding future new equipment.
An important part in being able to fulfil its public benefit remit in providing a life-saving service is to ensure that its boats and equipment are maintained to a high standard. This also applies to providing adequate training and protective gear for the crew. In view of the amounts invested in the previous few years, costs were modest being £1,885, comprising some new lifejackets and a microboat, which is used with an electric motor to transfer crew to the lifeboat.
The cost of running the rescue boats, including fuel, repairs and pagers was £21,221 compared to £19,999 in the previous year. The increase is due repair and maintenance costs. Insurances amounted to £9,567 compared to £9,023, and training costs were £420 compared to £220 the previous year.
4
HAMBLE LIFEBOAT LIMITED
REPORT OF THE DIRECTORS (Continued)
FINANCIAL REVIEW
Results
The overall deficit for the year amounts to £15,800 (2022: deficit of £27,144) and is attributable as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Unrestricted funds: | ||
| Surplus from operations | 2,766 | 5,293 |
| Bank interest received | 923 | 75 |
| --------- | --------- | |
| Total unrestricted surplus | 3,689 | 5,368 |
| Restricted funds: | ||
| Depreciation - boathouse | - 5,588 | - 5,588 |
| Donation received in the year re the late P Stuart | 12,246 | - |
| Depreciation – boats and equipment | -26,147 | -26,924 |
| ---------- | ---------- | |
| Total restricted deficit | -19,489 | -32,512 |
| ---------- | ---------- | |
| Overall deficit for the year | -£15,800 | -£27,144 |
| ====== | ====== |
Total income amounted to £79,069 compared to £65,299 for the previous year. The overall level of donation income was £51,152 compared to £30,813 and of this increase £12,246 includes a restricted donation to be used towards the purchase of new equipment. This donation is dedicated to the memory of the late Philip Stuart who passed away in 2020 after nine years of voluntary service.
The increase in general donations is in contrast to a drop in income from other trading activities, from £34,486 to £27,917. Operational costs of running the rescue service increased mostly due to higher repairs and maintenance on the boats and electricity costs, the latter which more than doubled from £2,210 to £5,092. Overall costs incurred on charitable activities increased from £88,671 to £92,865.
Despite the deficit reported for the year, overall the cash flow of the charity for the year was positive, which enable a transfer of £17,971 to the designated capital assets replacement fund.
Reserves policy statement
The charity has a policy of setting aside funds for designated projects, the sole designated fund at present being for the replacement of the charity’s rescue boats. Major donations (which are not by their nature, restricted funds) are set aside into a separate fund in order to pay for future acquisition costs.
In addition, many of the reserves held are restricted funds, as they are donations provided for the specific use of financing new rescue boats and equipment. These restricted funds have been utilised to pay for the costs of acquiring and constructing the rescue boats, and various items of equipment and crew protective clothing.
5
HAMBLE LIFEBOAT LIMITED
REPORT OF THE DIRECTORS (continued)
Reserves policy statement - continued
The directors consider that the charity always needs a general reserve of at least £30,000 in order to cover future operating costs, in view of the fact that all of the company’s income is of a voluntary and hence variable nature. Whilst the balance on the general undesignated reserve is just under this figure at the year-end, the charity has a designated fund that could be drawn upon in an emergency.
Risk assessment statement
The company faces a large number of risks from operating the rescue boats, principally in the field of health and safety matters. All crew are given training and essential protective clothing. The boats are maintained to a high standard. The charity has ensured that the rescue boats comply with the RBCoP and it continually reviews its procedures to ensure compliance with the new code, issued by the Maritime and Coastguard Agency.
In addition to its own operational procedures, the company mitigates the operational risk by having insurance cover. The charity has also taken out indemnity insurance for the directors.
The charity also faces the financial risk of having insufficient funds to carry out its operations, as all of its income is derived from voluntary sources. The charity tries to mitigate this risk by holding sufficient funds to meet the operating costs of the charity for at least a year. It also benefits from the proceeds of The Friends of Hamble Lotto, which generates a regular monthly income.
PLANS FOR THE FUTURE
The charity will continue to maintain to a high standard its existing rescue boats in order to provide an effective inshore rescue service. The new equipment which has been acquired over the last few of years largely by grants from the Department for Transport has ensured that it is well equipped to deal with its rescue role in the future.
The charity will continue to put funds aside where it can in order to build up a fund for the replacement of its rescue boats.
TANGIBLE FIXED ASSETS
In the opinion of the directors, the cost of replacing two new lifeboats with boats of similar size, complete with their rescue equipment is in excess of £800,000.
PUBLIC BENEFIT STATEMENT
In accordance with the requirements of the Charities Act 2011 and the associated Charities (Accounts and Reports) Regulations 2008, the directors confirm that they have complied with their duties to have due regard to the guidance on public benefit as published by the Charity Commission, in exercising their powers and duties in the year under review.
6
HAMBLE LIFEBOAT LIMITED
REPORT OF THE DIRECTORS (Continued)
AUDITOR
The directors have taken advantage of the audit exemption regulations not to have these financial statements audited. As a registered charity, its accounts continue to need an Independent Examination, which has been undertaken by Mr Robert Anthony. A proposal to re-appoint Mr Robert Anthony as Independent Examiner will be put to the forthcoming Annual general meeting.
COMPANIES ACT 2006
The report has been prepared in accordance with the provisions of part 15 of the Companies Act 2006 relating to small companies.
BY ORDER OF THE BOARD
Mrs J B Motherwell
Date: 2 September 2024
7
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
HAMBLE LIFEBOAT LIMITED CHARITABLE COMPANY
I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 December 2023, which are set out on pages 9 to 19.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)b of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by Section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a “true and fair view” which is not a matter considered as part of an independent examination; or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for Accounting and Reporting by Charities.
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 financial statements to be reached.
Robert Anthony
Chartered Accountant 36 Merdon Avenue Chandlers Ford Eastleigh Hampshire SO53 1EP
Date: 2 September 2024
8
HAMBLE LIFEBOAT LIMITED
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| INCOME | |||
| Donations | 2 | 51,152 | 30,813 |
| Other trading activities | 3 | 27,917 | 34,486 |
| ---------- | ----------- | ||
| TOTAL INCOME | 79,069 | 65,299 | |
| ---------- | ----------- | ||
| EXPENDITURE | |||
| Raising funds | 4 | 2,927 | 3,847 |
| Charitable activities | 5 | 92,865 | 88,671 |
| ---------- | ---------- | ||
| 95,792 | 92,518 | ||
| ---------- | ---------- | ||
| OPERATING DEFICIT | -16,723 | -27,219 | |
| Investment income | 7 | 923 | 75 |
| ---------- | ---------- | ||
| DEFICIT ON ORDINARY ACTIVITIES | |||
| BEFORE TAXATION | -15,800 | -27,144 | |
| Taxation | 8 | - | - |
| ---------- | ---------- | ||
| DEFICIT FOR THE YEAR | 15 | -£15,800 | -£27,144 |
| ====== | ====== |
9
HAMBLE LIFEBOAT LIMITED (1082684)
BALANCE SHEET
AT 31 DECEMBER 2023
| AT 31 DECEMBER 2023 | |||
|---|---|---|---|
| Notes | 2023 | 2022 | |
| £ | £ | ||
| TANGIBLE FIXED ASSETS | 9 | 489,499 | 538,780 |
| ----------- | ----------- | ||
| CURRENT ASSETS | |||
| Stocks | 1,375 | 1,058 | |
| Debtors | 10 | 8,000 | 7,144 |
| Investments | 11 | 100,107 | 69,890 |
| Cash at bank and in hand | 27,297 | 24,703 | |
| ---------- | ---------- | ||
| 136,779 | 102,795 | ||
| CREDITORS: Amounts falling due within | |||
| one year | 12 | 2,127 | 1,624 |
| ---------- | ---------- | ||
| NET CURRENT ASSETS | 134,652 | 101,171 | |
| ---------- | ---------- | ||
| NET ASSETS | £624,151 | £639,951 | |
| ====== | ====== | ||
| FUNDS | |||
| Unrestricted funds: | |||
| Designated fund re tangible fixed assets | 13 | 164,314 | 182,777 |
| Designated fund | 13 | 87,861 | 69,890 |
| Undesignated | 13 | 28,088 | 23,907 |
| ----------- | ----------- | ||
| 280,263 | 276,574 | ||
| ----------- | ----------- | ||
| Restricted funds (page 11): | |||
| Boat and equipment capital funds | 343,888 | 363,377 | |
| ----------- | ----------- | ||
| TOTAL FUNDS | 15 | £624,151 | £639,951 |
| ====== | ====== |
The financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 and no notice has been deposited under section 476. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2023 and of its result for the financial year in accordance with the requirements of section 396 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements on pages 9 to 19 were approved and authorised for issue by the directors on 2 September 2024 and signed by:
J Godwin, director
10
HAMBLE LIFEBOAT LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
| Restricted | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | boathouse | Total | Total | |
| funds | boat funds | fund | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Income from: | |||||
| Donations | 38,906 | 12,246 | - | 51,152 | 30,813 |
| Other trading activities | 27,917 | - | - | 27,917 | 34,486 |
| Bank deposit interest | 923 | - | - | 923 | 75 |
| ---------- | ---------- | ----------- | ----------- | ---------- | |
| Total | 67,746 | 12,246 | - | 79,992 | 65,374 |
| ---------- | ---------- | ----------- | ----------- | ---------- | |
| Expenditure on: | |||||
| Raising funds | 2,927 | - | - | 2,927 | 3,847 |
| Charitable activities | 61,130 | 26,147 | 5,588 | 92,865 | 88,671 |
| ---------- | --------- | ---------- | ----------- | ---------- | |
| Total | 64,057 | 26,147 | 5,588 | 95,792 | 92,518 |
| ---------- | --------- | ---------- | ----------- | ---------- | |
| Net movement in funds | 3,689 | -13,901 | -5,588 | -15,800 | -27,144 |
| Reconciliation of funds: | |||||
| Funds brought forward | 276,574 | 123,072 | 240,305 | 639,951 | 667,095 |
| ---------- | ---------- | ---------- | ----------- | ----------- | |
| Funds carried forward | £280,263 | £109,171 | £234,717 | £624,151 | £639,951 |
| ====== | ====== | ====== | ====== | ====== | |
| Analysis of net assets | |||||
| between funds | |||||
| Tangible fixed assets | 164,314 | 90,468 | 234,717 | 489,499 | 538,780 |
| Net current assets | 115,949 | 18,703 | - | 134,652 | 101,171 |
| ---------- | ----------- | ---------- | ----------- | ----------- | |
| Total net assets | £280,263 | £109,171 | £234,717 | £624,151 | £639,951 |
| ====== | ====== | ====== | ====== | ====== |
The net deficit of £15,800 is equivalent to the deficit for the year as shown in the income and expenditure account on page 9, and the total funds carried forward of £624,151 is equivalent to the balance on the income and expenditure account.
11
HAMBLE LIFEBOAT LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023 - COMPARATIVE
| Restricted | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | boathouse | Total | Total | |
| funds | boat funds | fund | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Income from: | |||||
| Donations | 30,813 | - | - | 30,813 | 24,130 |
| Charitable activities | - | - | - | - | 9,063 |
| Other trading activities | 34,486 | - | - | 34,486 | 26,317 |
| Bank deposit interest | 75 | - | - | 75 | 6 |
| ---------- | ---------- | ----------- | ----------- | ---------- | |
| Total | 65,374 | - | - | 65,374 | 59,516 |
| ---------- | ---------- | ----------- | ----------- | ---------- | |
| Expenditure on: | |||||
| Raising funds | 3,847 | - | - | 3,847 | 1,807 |
| Charitable activities | 56,159 | 26,924 | 5,588 | 88,671 | 83,711 |
| ---------- | --------- | ---------- | ----------- | ---------- | |
| Total | 60,006 | 26,924 | 5,588 | 92,518 | 85,518 |
| ---------- | --------- | ---------- | ----------- | ---------- | |
| Net movement in funds | 5,368 | -26,924 | -5,588 | -27,144 | -26,002 |
| Reconciliation of funds: | |||||
| Funds brought forward | 271,206 | 149,996 | 245,893 | 667,095 | 693,097 |
| ---------- | ---------- | ---------- | ----------- | ----------- | |
| Funds carried forward | £276,574 | £123,072 | £240,305 | £639,951 | £667,095 |
| ====== | ====== | ====== | ====== | ====== | |
| Analysis of net assets | |||||
| between funds | |||||
| Tangible fixed assets | 182,777 | 115,698 | 240,305 | 538,780 | 570,413 |
| Net current assets | 93,797 | 7,374 | - | 101,171 | 96,682 |
| ---------- | ----------- | ---------- | ----------- | ----------- | |
| Total net assets | £276,574 | £123,072 | £240,305 | £639,951 | £667,095 |
| ====== | ====== | ====== | ====== | ====== |
The net deficit of £27,144 is equivalent to the deficit for the year ended 31 December 2022 as shown in the income and expenditure account on page 9, and the total funds carried forward of £639,951 is equivalent to the balance on the income and expenditure account.
12
HAMBLE LIFEBOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of accounting
The company uses the historical cost basis of accounting, and the financial statements are drawn up in accordance with the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities – SORP (FRS 102) second edition, as issued by the Charity Commission effective from October 2019.
The company has taken advantage of the exemption available as a small charity and not prepared a cash flow statement.
Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost less accumulated depreciation. Depreciation is provided to write off the cost, less anticipated residual value of these assets over their estimated useful lives in equal annual instalments at the following rates:
| % | ||
|---|---|---|
| Boathouse premises at Hamble | 2.00 | |
| Rescue boats | 10.00 or 20.00 | |
| Engines | 10.00 | |
| Radios | 20.00 | |
| Miscellaneous equipment | 12.50 |
Costs incurred on major refits are added to the cost of the rescue boats, and any original expenditure on items that are replaced as part of the refit is written off in the year of refit. Costs of any very significant engine repairs are also capitalised and written off over the remaining life of the engine where the expenditure results in an increase in useful life.
Costs of a capital nature incurred on the new boat house are included in fixed assets. Depreciation has been provided each year since 2016 when the boathouse was brought into use.
Income
Income represents grants receivable, plus donations and other funds raised. Donations and legacy income only are included when the charity has been notified by the donor of the forthcoming grant or donation. In most instances therefore, grants and donations are included on a received basis.
All grants and donations are treated as income in the income and expenditure account and are treated as restricted funds where the donor specifies the purpose to which the donation is to be put. Donations in kind are not accounted for unless their value can be determined with a high degree of certainty.
13
HAMBLE LIFEBOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
1.ACCOUNTING POLICIES – continued
Income and expenditure account
The balance on the income and expenditure account is split between restricted funds, and unrestricted funds. Unrestricted funds (or general reserves) are split into a capital fund, being funds that have been invested in boats, equipment and other fixed assets, to the extent that they are not otherwise funded by restricted funds, a capital assets replacement fund and the general fund, which the directors are free to utilise to further the charity’s objectives.
Restricted funds
The company accounts for two restricted funds. Firstly, a fund has arisen from donations received specifically for the purchase and fitting out of particular rescue boats, these being in 2000 for the “Harry Childs”, and in 2004 the “John and Violet Hurrell”. This fund also includes grants received to purchase specific pieces of equipment. Depreciation is allocated against the individual donations contained in the fund as the boats and equipment to which they relate are depreciated in accordance with the policy referred to above.
A second restricted fund has arisen in respect of grants and donations specifically made towards the boathouse. These funds are utilised against depreciation provided each year on the building.
Donated goods
Where goods (such as second-hand books) are donated to the charity for subsequent sale, they are only recorded in the financial statements at their value when sold. The directors consider it impractical to value any such goods in stock at the year-end. Where goods and services are paid for directly by a third part as a donation to the charity, the donation is included at its fair value in income and expenditure where it is practical to do so. The value of volunteer time is not accounted for.
Cost of charitable activities
These comprise costs directly involved in running the rescue boats, including fuel, repairs, servicing, protective clothing, pagers and depreciation of the engines and equipment. It also includes the costs of running the boathouse, including light, heat, repairs and rates, and support costs. The latter are telephone, office and other administration costs. In view of the small scale of the charity, these support costs have not been allocated on an activity basis as required by the SORP for large charities.
Companies Act 2006
In view of the nature of the company's activities, the company has departed from the exact formats required by the Act, in order for the financial statements to give a true and fair view. The company has adapted the layout of its accounts to comply with the Statement of Recommended Practice for Accounting by Charities.
14
HAMBLE LIFEBOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| 2. INCOME FROM DONATIONS | ||
| Unrestricted donations and grants received | ||
| General donations | 36,227 | 30,343 |
| In Memoriam donations: | ||
| Mr A Smith | 1,640 | - |
| Ms M Salter | 517 | - |
| Mr J Wood | 277 | - |
| Ms P Campbell | 200 | - |
| Mr P Stuart | - | 330 |
| Ms B Mollerstrom | - | 140 |
| Others under £100 each | 45 | - |
| ---------- | ---------- | |
| 2,679 | 470 | |
| ---------- | ---------- | |
| Total unrestricted donations | 38,906 | 30,813 |
| Restricted donation | ||
| Donation for future equipment dedicated to the memory | ||
| of the late Philip Stuart | 12,246 | - |
| ---------- | ---------- | |
| Total income from donations | £51,152 | £30,813 |
| ====== | ====== | |
| 3. OTHER TRADING ACTIVITIES | ||
| Friends of Hamble Lotto net proceeds | 14,261 | 16,478 |
| Fundraising events | 4,316 | 6,813 |
| Sale of donated goods | 4,311 | 6,005 |
| Value of donated merchandise for resale | 682 | - |
| Sale of other goods | 4,347 | 5,190 |
| --------- | ---------- | |
| £27,917 | £34,486 | |
| ===== | ===== | |
| 4. COST OF RAISING FUNDS | ||
| Event and other costs | 333 | 1,139 |
| Website | 223 | 222 |
| Fundraising goods bought for resale | 2,371 | 2,486 |
| --------- | --------- | |
| £2,927 | £3,847 | |
| ===== | ===== |
15
HAMBLE LIFEBOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| 5. COST OF CHARITABLE ACTIVITIES | ||
| Boat running costs | 21,221 | 19,999 |
| Insurance | 9,567 | 9,023 |
| Depreciation | 51,166 | 51,444 |
| Deficit on disposal of equipment | - | 997 |
| Boathouse expenses | 8,057 | 4,547 |
| Crew training and medicals | 420 | 220 |
| Support costs: | ||
| Telephone, stationery and other | 1,326 | 1,369 |
| Accountancy | 870 | 834 |
| Trustees indemnity insurance | 238 | 238 |
| ---------- | ---------- | |
| £92,865 | £88,671 | |
| ====== | ====== | |
| 6. STAFF COSTS | ||
| 2023 | 2022 | |
| Average number of employees | nil | nil |
| ===== | ===== | |
| The directors received no remuneration during either year. | ||
| 7. INVESTMENT INCOME | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank deposit interest received | 923 | 75 |
| ===== | ===== |
8. TAXATION
No charge to corporation tax arises because the company is a registered charity and as such is exempt from corporation tax.
16
HAMBLE LIFEBOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
9. TANGIBLE FIXED ASSETS
| Rescue | Misc. | |||
|---|---|---|---|---|
| Premises | boats | equipment | Total | |
| £ | £ | £ | £ | |
| COST | ||||
| At 1 January 2023 | 360,673 | 289,165 | 141,039 | 790,877 |
| Additions | - | - | 1,885 | 1,885 |
| ----------- | ----------- | ---------- | ----------- | |
| At 31 December 2023 | 360,673 | 289,165 | 142,924 | 792,762 |
| ----------- | ----------- | ---------- | ----------- | |
| DEPRECIATION | ||||
| At 1 January 2023 | 49,510 | 124,935 | 77,652 | 252,097 |
| Provided | 7,236 | 26,509 | 17,421 | 51,166 |
| ---------- | ---------- | ---------- | ----------- | |
| At 31 December 2023 | 56,746 | 151,444 | 95,073 | 303,263 |
| ---------- | ---------- | ---------- | ----------- | |
| NET BOOK VALUES | ||||
| At 31 December 2023 | £303,927 | £137,721 | £47,851 | £489,499 |
| ====== | ======= | ====== | ====== | |
| At 31 December 2022 | £311,163 | £164,230 | £63,387 | £538,780 |
| ====== | ======= | ====== | ====== | |
| 2023 | 2022 | |||
| 10. DEBTORS | ||||
| Prepayments | 7,623 | 7,144 | ||
| Other debtors – VAT | 377 | - | ||
| --------- | --------- | |||
| £8,000 | £7,144 | |||
| ===== | ===== | |||
| There are no debtors falling due after more than | one year. | |||
| 11. INVESTMENTS | ||||
| Bank deposit – capital assets replacement fund | £100,107 | £69,890 | ||
| ====== | ===== |
17
HAMBLE LIFEBOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| 12. CREDITORS | ||
| Creditors for expenditure | 513 | 801 |
| Accruals and deferred income | 1,614 | 823 |
| --------- | --------- | |
| £2,127 | £1,624 | |
| ===== | ===== |
There are no creditors falling due after more than one year.
13. UNRESTRICTED FUNDS
| Capital fund £ Balance brought forward 182,777 Unrestricted result for the year (page 11) - Transfers between funds -18,463 Transfer to designated funds - ---------- Balance carried forward £164,314 ====== |
Designated General funds fund Total £ £ £ 69,890 23,907 276,574 - 3,689 3,689 - 18,463 - 17,971 -17,971 - ---------- ----------- ----------- £87,861 £28,088 £280,263 ====== ====== ====== |
|---|---|
The capital fund represents the company’s investment in tangible fixed assets that have not been funded by restricted funds. The net book value of the tangible fixed assets has been funded as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Unrestricted capital fund (as above) | 164,314 | 182,777 |
| Restricted fund: (page 11) | ||
| Rescue boats and equipment | 90,468 | 115,698 |
| Boathouse | 234,717 | 240,305 |
| ----------- | ----------- | |
| 325,185 | 356,003 | |
| ----------- | ----------- | |
| Net book value of tangible fixed assets (note 9) | £489,499 | £538,780 |
| ====== | ====== |
18
HAMBLE LIFEBOAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
14. UNRESTRICTED DESIGNATED FUNDS
Capital assets replacement fund:
| Capital assets replacement fund: | |
|---|---|
| £ | |
| Fund brought forward | 69,890 |
| Transfers from the general fund | 17,971 |
| ----------- | |
| Total | £87,861 |
| ====== |
The capital asset replacement fund is to set aside reserves to enable funding of replacement lifeboats. The balance on the designated fund is invested in a bank deposit account along with the restricted donation of £12,246.
15. TOTAL FUNDS
| 15. TOTAL FUNDS | |
|---|---|
| £ | |
| Total funds brought forward | 639,951 |
| Deficit for the year | -15,800 |
| ----------- | |
| Total funds carried forward | £624,151 |
| ====== |
19
HAMBLE LIFEBOAT LIMITED
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| INCOME | |||
| Unrestricted donations received: | |||
| General donations and fund raising | 35,687 | 29,698 | |
| In Memoriam donations | 1 | 2,679 | 470 |
| ---------- | ---------- | ||
| 38,366 | 30,168 | ||
| Restricted donation | 2 | 12,246 | - |
| ---------- | ---------- | ||
| 50,612 | 30,168 | ||
| ---------- | ---------- | ||
| Lotto and other fundraising | 3 | 28,457 | 35,131 |
| ---------- | ---------- | ||
| TOTAL INCOME | 79,069 | 65,299 | |
| ---------- | ---------- | ||
| EXPENDITURE | |||
| Boat operating costs | 4 | 75,138 | 74,447 |
| Boathouse costs | 5 | 15,293 | 11,783 |
| Support costs | 6 | 2,434 | 2,441 |
| ---------- | ---------- | ||
| 92,865 | 88,671 | ||
| Fundraising and marketing | 7 | 2,927 | 3,847 |
| ---------- | ---------- | ||
| Total expenditure | 95,792 | 92,518 | |
| ---------- | ---------- | ||
| DEFICIT ON OPERATING ACTIVITIES | -16,723 | -27,219 | |
| Bank interest received | 923 | 75 | |
| ---------- | ---------- | ||
| DEFICIT FOR THE YEAR | -£15,800 | -£27,144 | |
| ====== | ====== |
20
HAMBLE LIFEBOAT LIMITED
NOTES TO THE DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| 1.IN MEMORIAM DONATIONS RECEIVED | ||
| Mr A Smith | 1,640 | - |
| Ms M Salter | 517 | - |
| Mr J Wood | 277 | - |
| Ms P Campbell | 200 | - |
| Mr P Stuart | - | 330 |
| Ms B Mollerstrom | - | 140 |
| Various under £100 each | 45 | - |
| --------- | --------- | |
| £2,679 | £470 | |
| ===== | ===== | |
| 2.DESIGNATED GRANTS AND DONATIONS | ||
| Donations from Mrs S Stuart | £12,246 | £- |
| ====== | ====== | |
| 3.LOTTO AND OTHER FUNDRAISING | ||
| Lotto net contributions received | 14,261 | 16,478 |
| Old 200 club continuing donations | 540 | 645 |
| Other: | ||
| Sale of books | 4,311 | 5,765 |
| Fundraising events | 4,316 | 6,813 |
| Value of donated equipment | - | 240 |
| Value of donated merchandise for sale | 682 | - |
| Sale of merchandise | 4,347 | 5,190 |
| --------- | --------- | |
| £28,457 | £35,131 | |
| ===== | ===== |
21
HAMBLE LIFEBOAT LIMITED
NOTES TO THE DETAILED INCOME AND EXPENDITURE ACCOUNT
| FOR THE YEAR ENDED 31 DECEMBER 2023 | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| 4. BOAT OPERATING COSTS | ||
| Fuel | 8,289 | 11,193 |
| Insurance | 9,567 | 9,023 |
| Repairs and servicing | 8,445 | 5,134 |
| VAT refund received | -1,657 | -1,854 |
| Protective clothing and life jacket maintenance | 2,002 | 1,451 |
| Pagers | 3,465 | 3,839 |
| Crew training | 420 | 220 |
| Medical supplies | 677 | 236 |
| Depreciation of engines and equipment | 27,407 | 27,685 |
| Depreciation of rescue boats | 16,523 | 16,523 |
| Deficit on disposal of equipment | - | 997 |
| ---------- | ---------- | |
| £75,138 | £74,447 | |
| ====== | ====== | |
| 5. BOATHOUSE COSTS | ||
| Electricity | 5,092 | 2,210 |
| Rates and water | 1,751 | 1,606 |
| Repairs, renewals and maintenance | 565 | 201 |
| Dinghy park rent | 370 | 340 |
| Parking permit | 102 | 85 |
| Fire security | 177 | 105 |
| Depreciation of boathouse building | 7,236 | 7,236 |
| -------- | -------- | |
| £15,293 | £11,783 | |
| ===== | ===== | |
| 6. SUPPORT COSTS | ||
| Telephone and internet | 642 | 566 |
| Office costs | 206 | 455 |
| Subscriptions | 135 | 85 |
| Miscellaneous | 13 | 13 |
| Accountancy | 870 | 834 |
| Trustees indemnity insurance | 238 | 238 |
| Crew and trustees presentation event | 330 | 250 |
| -------- | --------- | |
| £2,434 | £2,441 | |
| ===== | ===== |
22
HAMBLE LIFEBOAT LIMITED
NOTES TO THE DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| 7. FUNDRAISING AND MARKETING | |||
| Just Giving subscription | 216 | 216 | |
| Other publicity and fundraising | 117 | 351 | |
| Banner for open day | - | 218 | |
| Card machine | - | 179 | |
| Raffle prize | - | 175 | |
| Website | 223 | 222 | |
| Goods bought for resale | 2,371 | 2,486 | |
| --------- | --------- | ||
| £2,927 | £3,847 | ||
| ===== | ===== |
23