Règistered numbor. 01098775 Charlty number: 266406 MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023
hlUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD {A company limited by guarantee) CONTE14TS Page Rgfergn¢e and adminitstrntivè dètails of Ihe Company. Its Tru8teo8 and advl8ers Trustees, rnport Independent examlnof8 report Statement of flnanclal a¢tlvltles 8alanco shoot 10- 11 Noles to the Ilnancial gtat¢ments 12-25
AIUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD (A cornpany IlmSted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2023 Trustg9s Mr Christophei Payne, Trustee Mr Paul Holland, Trustee Ifesigned 7 Novembei 20221 Mr Robert Francis. Trustee Mr Alan Vemey. Trustee Mr Colin Plummer, Trustee (resigned 7 November 2022} Mr Nick Ajexander, Tiustee Mrs Diane Spray, Trustee Mrs Elizabeth P8yne. Trustee Mrs Janice Francis, Trustee Ms Wendy Copping, Trustee Mr Bryan Hall, Trustee {appointed 18 April 2023) Mr Brian Shaw, Chair, Trustee Mr Andrew Fields, Trustee (resigned 1 June 20231 Mr David Francis. Trustee Mr Neil Munro, Trustee Mr David Hearn, Trustee lappoinled 7 November 20221 Mtss Beverley Fowler. Ttustee {appointed 4 January 2023) Company rogistsrod numbfrr 01098775 Charlty rgglst•red number 266406 Rogistored office 12 Church Stroet Cromer Norfolk NR27 9ER Company secretsry Mrs Pamela Tidd Aceountants MA Partners Audit LLP Chartererd Accountants 7 The Ctose Norwich Norfolk NR140J Page I
UNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA company limited by guarantsel TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2023 The Trustees present their annual report together with the financial ststemenls of th¢ Company for the 6 April 2022 to 5 April 2023. The annual report serves the purposes of both 8 TTUStees' report and a directors, report under company law. The Trustees confirm that the annual report and financial slalemenls of the charitable company comply with the current slalutory requirements, the requirements of the charitsble companls governing document and the provisions of the Slalemenl of Recommended Practice ISORPI applicable lo charities preparing their accounts in aecordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Since the Company qualffies as small under sectron 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 {Slr*gic Rewrt and Directors, Report) Regulab'ons 2013 has been omitted. Obloctlv•8 and actSvlti a. Pollclgs and objectfv The Charilie5' objectives are foT the public benefft, primarity and wholty the pre5erv8tion and sawng of lrfe from the sea. The Charity will execute this by the maintonance and fitting out a lifeboat together with a walei rescue team from its base al Mundesley. Norfolk. In setting objecb'ves and planning for aclwilies, the Twslees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit. running charity IPB2)'. Page 2
MUNDESLEY VOLuKfEER INSHORE LIFEBOAT LTD (A company limlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Achlevements and pgrfornwnce a. Maln achlèvements of tho Company The charity shop ha8 redUd retail space due to the impact of the file in the adjacent shop and smoke contamination on the first floor. Awaiting the landlord to Comte repairs. During this financial year, phased replacement of Crew dry suits continu8S. 6 Swrft Watei Technicians renewod their compelency on a course hetd in Wales. 10 crow members were trained in drimng tracked vehicles and all passed their Class h comp8tency with 8 DVSA examiner. The serVe look fonnal ownership of the cliff access slope. The outstanding LK)athoLFse roof repairs were completed. The boathouse signage was improved. A new road trailer was purchased to allow the new lrfeboat to be transported for tria15 and for th8 dedication ceremony. The boathouse doors were replaced to allow the new Softrak tractor to be housed in the boathouse. The Softrak experienced an engine failure, and the original engine was repaired sab"sfaclority. 6 crew members attended the Advanced RYA Powerboat training, and am passed the qualification. The serye purchased a new defibrillalor and training simulator. The new teal build was complete by Goodchild Marine SerVIs Ltd. The new lrfel)oat Was named the Edna Claxton at a ceremony of dedicab"on, completed ils sea trials and passed the 'Small Commercial Vessemorkboat Code of Practice. Survay by MECAL. The seNce purchased a Solis tractor and had modifications carried out to the tow hitch by Marine Weld Fabrication. An externai company was engaged to carry out the clinical governance of the servlce and as¥isl in crew first-a training. Preparation continued for Ihfj MCA's'declared facilty status, audit. The Truglees Completed discussions on the formation of a loase to cover the boathouse area of 18nd with NNDC. Page 3
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA company Ilmitsd by guarnnts•) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Financial review . Going ¢oncorn After making appropriale enquirie5. the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue lo adopt the going concern basis in preparing the financial slatemenls. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Re¥erv88 policy The total funds of the charity were £1,075,353 at 31 March 2023 (2022." £1,012,032). Free reserves, being unreslricled funds not represented by fixed assets were £297.626 at 31 March 2023 (2022.. £262,994J. The charity has idenlrf*d a target level of totsl funds of £1.000.000. The charity has in place insvranc8s specifically to cover personal 8ccident. loss of equipment and buildings. The reserves policy is based on a substsnlial compounded 105s of equipment andlor buildings, which ig deemed uninsured or which requires monies for replacement while awaiting insurance payThent Such a loss could be inundation of the lrfeboal station fr(xn a stom SUTge, resulting in the loss of the building and fittings, Lrfeboat, launching tractor and crews safety equipment. The charitys focus is lo have sufficienl feserves in place so should a need arise lo build a new boat house and or purchase a new boat, the charity is able to do so. The reserves policy strategy is lo minimise operational disruption and loss of service. Page 4
MUNDESLEY VOLUNfEER INSHORE LIFEBOAT LTD (A company limlted by guarantso) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Structiire¥ governanco and managemgnt a. Con8tltution Mundesley Volunteer Inshore Lifeboat Limited is registered as a charitable company limited by guarantee and was sel up by a Trust deed. In the event of the Charity being wound up, the liabilty is limited to £1 per member of the Chanty. The company is constituted LFnder a Memorandum of Assoeiation and is a registerod charity number 266406. b. Method8 of appointmgnt or a¢110 of Trustegs The management of the Company is the responsibility of the Trustees who are elected and c(OpIed under the terms of the Trust deed. c. Organlsatronal 8tructurg and doci8lonwmaking poIiGi8s The Trustees meot on a regular basis, a minimum of Iwice a year. in order lo monilor the progress of the Chanty, to make key decisions and to see that tre legal reqLtiremenls such as those of the Registrar of Companies, the Charity Commission and other regulatory bodies are adhered to. d. Pollcle8 adoptsd for thg Inductlon and training of Trust•os The Charity reviews il's current policies in connection with the appointment and training of fuluie trustees ea¢h year. It'5 operational risk assessments are up lo dale and 8 risk 8ssessment 15 undertaken for all fundrassing activities. A financhgl risk assessment is ¥egu18rty being reviewed by the Irustees. Page 5
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA oompany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Plan8 for futuro porfods Work with Marine Weld Fabrication to deSn and construct a new lrfeboal launching carriage. Work lo resolve the waterproofing issues associated with the new lrfeboal intercom system. Work with a local civil engineering ¢tynpany to complete design and construction of new tractor storage facility beside the existing boathouse. Complete charity shops. internal and extemal decoration with a view to extending opening hours lo pre-fire levels. The owner of the access slope has indicated that he wishes to transfer ownership to the Serwce should we require it Commence work with solicttors lo transfer ownership. Complete 'Declared Facility Status. audit wth MCA. A lurther 2 Crew members lo train and qualfy to Class H (tracked vehide) driving standard. Develop training procedures. protocols and risk assessments for Softrak launch vehicle. Investigate feasibility of provKling safe and secure stretcher carrying facility for rear of Softrak with appropriate risk assessments. Continue with the phased dry suit replacement Work towards developing more Crew lo helmsman slandard. Update Crew training Matrix and expand monthly equipment checks in conjunction with MCA audrt Tequifemenls. Develop monthly checks for Softrak launch tractor. Purchase spare chart plotter and Garmin radio to aid with crew training in boathouse. Investigate feasibility of improving boathouse floor with non-slip finish and decorating philosophy on ground floor. Page 6
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD (A company limitod by guarante8) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED S APRIL 2023 Statoment of Tte0s. rospongibllllles The Trustees {who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financi81 statements ir7 accordance with applicable law and United Kingdom Accounting Stsndards (United Kt'ngdom Generalty Accepted Accounting Praclicel. Company law requires the Trustees to prepare financial statements for each financial . Under company law. the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stste of affaiis of the Company and of its incoming resou8 and application of resources, including its income and expenditure, for that period. In preparing the3e financial statsments, the Trustees are required to.. select suitable accounting policies gnd then apply them consistently., observe the methods and principlos of the Charibes SORP {FRS 1021.. make judgments and accounting eslimales that are reasonable and prudent., state whether 8pplicabFe UK Accounting Standards IFRS 1021 have been folk)wed, subject to any material departures disclosed and explained in the financial statements., wepare the financial Statements on the going concern bash% unless it is inappropriate to presume that the Company will continue in business. rhe Trustees are Tesponsible for keeping adequate accounting re¢d$ that are sufficienl lo show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial posthon of the Company and enable them to ensure that the fiftancial statements comply with the Companies Acl 2006. They are atso responsible for safeguarding the assets of the Company and hen for taking reasonable steps for the prevention and detection of fraud and other iriegularilies. Approved by order ofthe membsrs of the board of Twstses and signed on their behaw b. Mr Brian Shaw Date.. 1 uz Page 7
141UNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA cornpany Ilmitgd by guarant•e) INDEPENDEKf EXAMINER'S REPORT FOR THE YEAR ENDED S APRIL 2023 Indopendent Examlnofs Report to the Trusts9$ of Mundo$1oy Voluntser In8hor• Lifeboat Ltd 'the Cornpany.) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 5 April 2023. Responslbllltlg8 and Ba818 of R8port As the Trustees of the Company {and its directors for the purposes of company law) you are responsible foT the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {Ihe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required to be audited Lsnder Part 16 of the 2006 Act and ar8 eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 ACY). In Carrng out my examination I have followed the Directions gNen by the Charity CTrmmission under section 14515llb} of the 2011 Act. Independent Examinorfs Stat•ment I have completed my examination. I confirm that no matters have come lo my attenlron in connection with the examination giving me caLFse to believe.. accounting records were not kept in respect of tho Company as required by yection 386 of the 2006 Act.. or the accounts do not accord with those record$; or the accoun15 do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accoLtnts give a 'tnJe and fairf view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Pracb"ce foi ?Ol$nI1n9 and reporting by charities. I have no concerns and have come aeross no other matters in connection wtth the examination to which Sttenlion should be drawn in this report in order to enable a proper understanding of the acwunts lo be reached. This report is made solely to the Company's Trustees. as a body. in 8ccord8nce with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work ha5 been undertaken so that I might state to the Company's Trustses those matters l am qUired lo stale trj them in an independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Companls Trustees as a body, for my work or for this TeporL Signed.. Alice Lynch Bsc ACA DChA MA Partnera Audit LLP Chartererd Accountsnts 7 The Close Norwich Norfolk NR14DJ Dated.. 21 November 2023 Page 8
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD {A company limited by 9uarnnteè) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrestricted funds 2023 Total funds 2023 roto1 funds 2022 Note Income from: Donations and legacies Other trading activities Investments Olher income 134,110 59,497 14.781 6.234 134.110 59.497 14.781 6.234 15,942 31,216 ii,ioo 16,272 Total in¢omo 214.622 214,622 74,530 Exp•ndlture on: Raising funds Charitable actimties 28.817 98,911 28.817 98,911 19, 786 T6,012 Total expondlture 127,728 127,728 95, 798 Not incomo1(oxpendlture) before nèt Ilossesllgains on investments Nel (lossesllgains on investments 86.894 123.5731 86.894 (23.573) (21,268) 12,324 Not movemènt In fuTrd# 63.321 63.321 (8.944) Reconciliation of funds: Total funds brought forw8rt1 Net movement in funds 1.012,032 63,321 1.012.032 63.321 1.020,976 (8,944) Totsl funds carriod forwanl 1,075,353 1,075,353 1,012.032 The Stalemenl of Financial Activilies indudes all gains and bsses recognised in the year. The notss on page$ 1210 25 fomi part of these financial statements. Pag8 9
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTO IA company limited by guarant99) REGISTERED NUMBER." 01098775 BALANCE SHEET AS AT S APRIL 2023 2023 2022 Not• Fixed aBset8 Tangible assets Investments 12 13 257.923 519,804 208,881 540, 157 7T1.727 749,038 Curront assets Stocks Debtors Investments 14 15 3.573 4.302 166,438 125.807 4,578 3,402 194,588 62.903 16 Cash at bank and in hand 300,120 265.471 Creditors.. amounts falling due within one year 17 12.494) (2,477) Net curront assets 297.626 262,994 Total assets les$ ourrgnt Ilabllltlas 1.075,353 1,012,032 Nat ass8ts excluding pgn81on a880t 1.075,353 t.012,032 Total ngt assgts 1.075.353 1,012,032 Charity funds Restricted funds Unrestricted funds 19 19 1,075.353 1,012,032 Total fund8 1,075,353 1,012,032 The Company was entitled to exemption from audit under section 477 of the Companies Act 2(106. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trusteès acknowledge their respon5ibililies for complying with the requirements of the Act with respect tr) accounting records and PTeparolion of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companios regime. Page 10
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD {A company limited by guarantee) REGISTERED NUMBER.. 01098775 BALANCE SHEEf (CONTINUED AS AT 5 APRIL 2023 The financial ststements were approved and authorised for issue by th8 Trustees and signed on their behaW by.. Mr Brian Shaw Dale.. 1 %<)Tr7 The notes on pages 12 to 25 fotm part of these financial stslements. Page 11
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 A¢¢ountlng pollclos 1.1 Gonoral infomiatlon Mundesley Volunteer Inshore Lifeboat Ltd is a registered charitable comp8ny limited by guarantee, incorporated in England and Wales, Tegistration number 01098775. The members of the charity include the Trustees named on page 1. The financial statements are presented in sterling which is the funcliortal currency of the charity lo Ihfj nearest £. The signrficant accounting policies in the preparation of these financial statemen15 are sel out below. These policw have been consistently appl¢ed lo all year8 presented unless othenvise stated. 1.2 Ba$1$ of preparatlon of financial ststements The financial statemen15 have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191, the Financol Rgporting Stsndard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Mundesley Volunteer Inshore Lifeboat Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initialty regnised at historical cost or transaction value unless otheiSe slatsd in the relovant accounting policy. 1.3 Golng con¢om Foltowing appropriate enquiries and analysis. the Tnjslees have positive expectation thal the charity has adequate resources to continue in ¢Jperalional existence for the foreseeable future. Foi this reason. they continue to adopt the going concern basis in preparing the financial slatemenls. Page 12
hlUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA company Ilmited by guarant88) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2023 Ac¢ountlng pollcle8 (continued) 1.4 Inoom9 All income is recognised onc8 the Company has entstlement to the income, it is probable that the income will be received and the amount of income receivable can be measured relFabty. The recognition of income from legacies is dependent on establishing entleMent. the probability of receipt and the abilty to estimate with suffKienl accuracy the amount receivable. Evidence of enlillement to a legacy exists when the Company has sufficient evidence that a gift has been left lo them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the propety in question will not be required lo satisfy claims in the eslale. Receipt of a legacy must be recognised when il is probable Ihal it will be received and the fair value of the amount receivable, which will generalty the expected cash amount lo be distributed to the Company, can be relkqbty measured. Grants are included in the statement of financial aclNilies on a receivable basis. The b81ance of income received lor specrfic purposes bul not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of enlitlement of receipt, its recognition is deferred and included in creditors as defetred income. Where enliuemenl LKcurs before income is received, the income is accrued. Inne lax recoverable in relation to investment income is recogntsed at the time the inveslment income is receivable. Other income is recognised in the period in which it Is receivable and to the extent the goods have been provided or on ccrfnplelion of the service. Page 13
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accounting pollcle8 {continuedl 1.5 Expendituro Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic beneffts will be required in settlement and the amount of the obligation can be measured reliably. Expendlture on raising funds includes 811 expendilure incurred by the Company to raise funds for ils charitable purposes and includes costs of all fundraising activitses events and non-charitsble trading. Expendifvre on ¢harit8ble 8ctswties is incurred on directty undertaking the activitie5 whith further the Company's objectives, as well as any associated support costs. All oxpenditure is inclusive of irrecoverable VAT. 1.6 Tanglble fIX a889ts and daprgclatlon Tangible fixed assets are capttalised ond recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed 8$sets are inilialty recognised at Cost. After recognition, under the cost mLxlel, tangible fixed assets are measured al c05t less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into rts intsnded working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimatgd useful lives, using the slraighl-line method. Depreciation is provided on the foll¢ywing basis= Plant and machinery Fixtures and fitting$ Other fixed assets 25% 15% 2% 1.7 Inve8tment8 Fixed asset investments are a fofm of financial instrument arKI are inibalty recognised at their Ir8n5aclion cost and subsequenlly measured at fair value al the balance Sheet date, unless the value annot be measured reliably in which case il is measured at cost less impaimient. Investment 9ains and losses, whether realised or unrealised. are combined and presented as 'GainsllLossesl on investrnents. in the statement of financial aclivities. 1.8 Stocks Stocks are valued at the lower of cost and net realisable value 8fter making due allowance for obsolete and slow-moving stocks. 1.9 Debtors Trade and other debtots are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Page 14
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD (A Company Ilmlted by guarant•o} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 A¢countlng poll¢l•8 (contlnued) 1.IOCash at bank and in hand Cash at bank and in hand includes $h and short-lerm highty liquid investments with a short maturity of three months or less from the date of acquisilion or opening of the deposit or similar account. 1.11 Llabllllios Liabilities are regnised when there is an obligation al the balance sheet date as a result of a past event, il is probable that a transfer of economtc benefvl will be requirgd in settlement. and the amount of the settlement can be estimated reliably. Liabilities are re¢ognised at the amount that the Company anticipates il will pay to settle the debt or the amount il has received as advanced payments for th8 goods or services it must provide. 1.12 Financial instrumgnts The Company only has financial assets and financial liabilities of a kind that qualify as basi¢ financial instruments. Basic financial instnjmenls are inilialty recognised at transaction value and subsequently measuTed at their settlement value wrth the exception of b8nk loans which are subsequently measured at amortised cost using tho effectThie interest method. 1.13 Fund ac¢ountlng General funds are unrestricted fund$ which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Inveslment income, gains and losses are allocat£ to the appropriate fund. Income from donatlons and legacles Unrestrictgd fund8 2023 Total funds 2023 Total funds 2022 Donations 10,672 123.438 10.672 123,438 12.775 500 2.667 Legacies Government grants 134,110 134,110 15.942 Page 15
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD (A company limitod by guarnntoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Income from other trading actlvltios Income from fundraising ovonts Unrestrictod funds 2023 Total funds 2023 Total funds 2022 Boat day Boxing day dip Other events 3,608 1.254 361 3.608 1.254 361 2,287 5.223 5,223 2,287 Income fmm non oharitable trnding adivltles Unrestrlcted funds 2023 Total funds 2023 Total funds 2022 Shop sales 54.274 54,274 28.929 In¥o8tm•nt income Unrostrktgd funds 2023 Total funds 2023 Tot81 funds 2022 Income from listed investments Income from unlisted investments 12,922 1,859 12,922 1.8S9 9.839 1,261 14,781 14.781 11,100 Page 16
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Other incoming 0r¢0$ Unrostrlctod funds 2023 Totsl fund8 2023 Total funds 2022 Insur8nce claims VAT refund 15,600 672 6,234 6,234 6,234 6,234 16,272 Expondlture on ral8lng funds C08ts of raising voluntsry Income Unrostrict fund8 2023 Totsl funds 2023 Total fvnds 2022 Boat day expenses Boxing day dip expenses Sundry Printing, postage and stationery 1,060 563 2,223 2,348 1.060 563 2.223 2.348 248 474 6,194 6.194 722 Othgrtrading oxp•n888 Unmtrictod fund8 2023 Total funds 2023 Tot81 funds 2022 Shop exFenses Shop f&f depreeiation 10,965 1,956 10,965 1.956 9.367 1,603 12,921 12.921 10,9TO Page 17
MUNDESLEY VOLuKfEER INSHORE LIFEBOAT LTD (A company limited by guarant99) NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 5 APRIL 2023 Inve8tmonl mana9ernenl Costs Unrestricted funds 2023 Total funds 2023 Tot81 funds 2022 Investrnont management fees 9,702 9.702 8,094 Analysis of •xpendltur• on charitable actlvltlel Summary by fund type Unrestricted funds 2023 Total 2023 Total 2022 Lifeboat & boathouse 98.911 98.911 76.012 Anatysis of 8xpgndftur• by activitiOS Aetivitle8 underiaken dlroctly 2023 Total funds 2023 Total funds 2022 Lifeboat & boathouse 98,911 98,911 76,012 Page 18
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD (A company limlted by guarJntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Analysi8 of expenditurè by activitie8 {ContInu> Analys18 of dlrect coJts Llfeboat & boathou8è 2023 Total funds 2023 Tot81 runds 2022 Depreciation Lifeboat running costs and repairs Crew medicals Uniform & PPE Training Rates & waste 31.335 14.781 575 836 21.862 1,597 1.435 679 31,335 14,781 575 26.193 4,474 1,723 2.362 16.008 1,659 905 836 21.862 1.s97 1,435 679 450 5,065 1.953 372 29 1,815 Water, Light & Heat Tetephone and broadband Pfitsng, postage & stationery Insurance 670 532 4.072 1,861 142 72 1,393 175 13,034 275 462 450 5,065 1,953 372 29 1,815 Accounlancy Sundry DBS checks Fuel Tractor shed Boathouse maintenance 16.127 16,127 Website hosting & mods Replacement lrfeboat costs 98,911 98.911 T6,012 10. Indepondent oxamlnofs remuneratlon 2023 2022 Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts 1.900 1,800 11. Tru8tees' r¢mun8ration and gxpgnsgs During the year, no Trustegs roceived any remuneration or other benefrts {2022- £NIL). Duiing thè year ended 5 April 2023, no Trustee expenses have been incurred {2022- £NIU. Page 19
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA cornpany Ilmltod by guarantsg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 12. Tanglblg flxod a88ets Plant and Fixtures and Other fixed machinery fittin98 assots Total Cost or valuation Al 6 April 2022 Additions 214h82 79,979 27.755 2,354 218,615 460,852 82.333 Al 5 April 2023 294.461 30,109 218.615 543.185 Depreciation At 8 April 2022 Charge for Ihg year 158,029 26.953 25,486 1.956 68.456 4,382 251.971 33.291 At 5 April 2023 184.982 27.442 72,838 285,262 Net book valuo At 5 April 2023 109.479 2,667 145.777 257,923 At 5 Apnl 2022 56.453 2.269 t50.159 208,881 Page 20
hlUNDESLEf VOLUNTEER INSHORE LIFEBOAT LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 13. Fixod as8et invostmonts Ll8tod inv88tment8 Cost or valuatlon At 6 April 2022 Additions 518.668 3,220 At 5 April 2023 521,778 Impalrni•nt At 6 April 2022 Ch8rge for the year 121,599) 23.S73 At 5 April 2023 1.974 Net book value At 5 April 2023 519.804 At 5 Apnl 2022 540, 157 14. Stocks 2023 2022 Finished goods and goods for resale 3,573 4,578 15. D•btor8 2023 2022 Due wlthln one year Prepayments and accrued income 4302 3,402 4.302 3.402 Page 21
MUNDESLEY VOLUNTEER INSHORE UFEBOAT LTD (A company limitgd by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 16. Current as8ot Invostmonts 2023 2022 Unlisted investsments 166A38 194,588 17. Cr8dltors: Amounts falling duo wlthln ono y8ar 2023 2022 Accruals and deferred income 2,494 2,477 18. Flnan¢lal Instruments 2023 2022 Financial assets Financial assets measured at fair value through income and expenditure 292.245 257,491 Financial assets measured at fair value through inccme and expenditure comprise ol cash and cash equivalents, and current invostsnents. Page 22
MUNDESLEY VOLUNTEER INSHORE UFEBOAT LTD (A company limltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 19. Statement of fund¥ Statement of funds - cuffent year Balance at 6 April 2022 Gainsl Balance at s {Lo860s) April 2023 InGome Expenditure Unrostrlctod funds General Funds 1.012,032 214.622 (127.728) 123.573) 1,075,353 Statemant of fund8 - prior year Balance al 1 Aprf2021 G8ins/ B818nce 81 (Losses) 5 April 2022 Income Expendilure Unrestrlcted funds Genefal Funds 1,020.976 74.530 {95, 798) 12.324 1,012,032 Page 23
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD IA company limit9d by guarnntg•) NOTES TO THE FINANCIAL STATEPJIENTS FOR THE YEAR ENDED 5 APRIL 2023 20. Summary of funds Summary of fundB- currwt year Balance at 6 April 2022 Gainsl Balance at 5 (Losses) April 2023 Income Expendlturg General funds 1,012.032 214,622 {127,7281 {23.573} 1.075,363 Summary of funds- pr50r year Balance at q April 2021 Gains/ Balance al (Losses) 5 April 2022 Irjcome Expenditu General funds 1.020.976 74.530 (95. 798) 12,324 1,012,032 21. Anatysis of net apAets betWg8n funds Analysis of not assets bètween funds - currnnt year Unre8trictad funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investrnents Current assets Creditors due within one y8ar 257,923 519,804 300,120 (2.4941 257,923 619,804 300.120 (2.4941 Totsl 1,075.353 1.075.353 Page 24
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD (A company limited by guar¥ntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 21. Analysis of net a68ets botweon funds {continued) Anatysis ot not assets b•tw•on funds- prioryear Unrestricted lunds 2022 Total funds 2022 Tangible fixed assets Fixed asset investsnenls Crn¢ assets Creditors due within one year 208,881 540, 157 265.471 (2,477) 208,881 540.157 265,471 (2,477) 1.012,032 f,012,032 Relatod party traii8•Ctlon8 The Company has not enteied into any related party tran&%lion during the year, nor are there any outstanding balances owing ln rel8ted parbe5 and the Company at S April 2023. Page 25