Registered number.. 01098775
Charity number: 266406
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Charity. its Trustees and advisers
Trustees. report
Independent examiner's report
Statement of financial activities
Balancg shggt
10-11
Notes to the financial statements
12-24

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 5 APRIL 2024
Trustees
Mr Christopher Payne, Trustee
Mr Robert Francis, Trustee
Mr Alan Verney, Trustee
Mr Nick Alexander, Trustee
Mrs Diane Spray, Trustee (resigned 7 November 20231
Mrs Elizabeth Payne, Trustee
Mrs Janice Francis, Trustee
Ms Wendy Copping, Trustee
Mr Bryan Hall, Trustee (appointed 18 April 20231
Mr Brian Shaw, Chair, Trustee
Mr Andrew Fields, Trustee Iresigned 1 June 20231
Mr David Francis, Trustee
Mr Neil Munro, Trustee
Mr David Hearn, Trustee
Miss Beverfey Fowler, Trustee
Company registered
number
01098775
Charity registered
number
266406
Registered office
12 Church Street
Cromer
Norfolk
NR27 9ER
Company secretary
Mrs Pamela Tidd
Accountants
MA Partners LLP
Chartererd AccoLJntants
7 The Close
Norwich
Norfolk
NR14DJ
Page 1

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED S APRIL 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 6
April 2023 to 5 April 2024. The annLJal report serves the purposes of both a Trustees, report and a directors,
report under company law. The Trustees confirm that the annual report and financial statements of the
charitable company Comply with the current statutory requirements, the reqLJiremenls of the charitable
company's governing document and the provisions of the Statement of Recommended Practice (SORPI
applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS1021 {effertive 1 January 2019)-
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required
of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report)
Regulations 2013 has been omitted.
Objectivgs and activitigs
a. Policies and objgctivgs
The Charities, objectives are for the publi¢ benefit, primarily and wholly the preservation and saving of life from
the sea. The Charity will execute this by the maintenance and filling out a lifeboat together with a water rescue
team from its base at Mundesley, Norfolk.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
Charity IP821'.
Page 2

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2024
Achievements and perfomiancg
a. Main achievgmgnts of the Charity
During this financial year, phased repla￿ment of Crew dry suits and safety equipment continues.
The service took formal ownership of the cliff awss slope.
The service purchased a new defibrillator and training simulator.
Preparation continued for the MCA'S 'declared facility status, audit.
Worked with Marine Weld Fabrication lo complete design and construrt of new lifeboat launching carriage.
Completed design and construction of new tractor storage facility beside the existing boathouse.
Completed replacing concrete 'toe' of access slope and upgrade of perimeter boathouse lighting.
Completed Charity shops, internal and external decoration, extended opening hours to pre-fire levels.
Completed transfer of ownership of access slope to the Service.
Completed first phase of training procedures, protocols and risk assessments for Softrak launch vehicle.
PU￿haSed spare chart plotter and Garmin radio lo aid with crew training in boathouse.
Page 3

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2024
Financial roview
. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resour￿$ to continue in operational existen￿ for the foreseeable future. For this reason, they continue to
adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of
the going concern basis can be found in the accounting policies.
b. Reserves policy
The total funds of the Charity were £1,101,303 al 31 Ma￿h 2024 (2023.. £f,075,353J. Free reserves, being
unrestricted funds not represented by fixed assets were £313,434 at 31 March 2024 (2023.. £326,548)-
The Charity has identified a target level of total funds of £1,000,000.
The Charity has in place inSuran￿S specifically to cover personal accident, loss of equipment and buildings.
The reserves policy is based on a substantial compounded loss of equipment andlor buildings, which is deemed
uninsured or which requires monies for replacement while awaiting Insuran￿ payment. Such a loss could be
inundation of the lifeboat station from a storm surge, resulting in the loss of the building and fittings, Lifeboat,
launching Iraclor and ¢reWs safely equipment. The Charity's focus is lo have sufficient reserves in place so
should a need arise lo build a new boat house and or pu￿hase a new boat, the Charity is able to do so. The
reserves policy strategy is lo minimise operational disruption and loss of servi￿.
Page 4

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2024
Structure. govemancg and managgment
Constitution
Mundesley VolLJnteer 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 liability is limited to £1 per
member of the Charity.
The company is constituted under a Memorandum of Association and is a registered Charity number 266406.
b. Methods of appointment or election of Tru$tg9$
The management of the Charity is the responsibility of the Trustees who are elerted and co-opted under the
terms of the Trust deed.
Organisational structurg and dgcision-making policigs
The Trustees meet on a regular basis, a minimum of twi￿ a year, in order to monitor the progress of the
Charity, to make key decisions and to see that the legal requirements such as those of the Registrar of
Companies, the Charity Commission and other regulatory bodies are adhered to.
d. Policigs adopted for thg induction and training of Trustgos
The Charity reviews il's current policies in connedion with the appointment and training of future trustees each
year. It's operational risk assessments are up lo date and a risk assessment is undertaken for all fundraising
activities. A financial risk assessment is regularly being reviewed by the trustees.
Page 5

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2024
Plans for futurg periods
Ongoing work to resolve the waterproofing issues asswated with the new lifeboat intercom system. Carry out
review of spares holding for this system and increase as ne￿Ssary.
Continue with preparation for 'Declared Facility Status, audit with MCA.
A further 2 Crew members to train and qualify to Class H {Iracked vehicle) driving standard.
Continue with the phased crew dry suit and safely equipment repIa￿rnent.
Work towards developing more Crew to helmsman standard.
Update Crew training Matrix and expand monthly equipment checks in conjunction with MCA avdit
requirements.
Investigate feasibility of improving boathouse floor with non-slip finish and decorating philosophy on ground
floor.
Shop Manager to develop use of Vinted online selling for some donated shop items.
Continue efforts to source new Trustees, Friends and Crew members to strengthen service.
Continue efforts to upgrade crew call-out system and purchase new style Swissphone pager for testing and
evaluation.
Cary out review of use of service minibus to ascertain the best type of vehicle for future operations.
PU￿hase a dynamic white board for boathouse to aid with crew training and presentations.
Engage solicitors to cary review and update of Servi￿ Memorandum and Articles as these are now over 50
years old.
Continue with plans to open current and savings a￿OUnts with Charity Aid Foundation {CAF) Bank to lessen
relian￿ on Barclays Bank.
Continue support of local community initiatives with sea safely talks in schools elc and providing village
defibrillator installation.
Work with solicitors to complete transfer of ownership of cliff lop a¢￿$S area.
Page 6

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 5 APRIL 2024
ststgment of Trustgos. responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for
preparing the Trustees. report and the financial statements in accordan￿ with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally A¢￿PIed Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. 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 slate of affairs of the Charity and of its incoming res0LJr￿S and application of reSoUr￿s,
including its income and expenditure, for that period. In preparing these financial statements, the Trustees are
required to..
select suitable accounting policies and then apply them ￿nsIStentIy',
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting eslimales that are reasonable and prudent.,
stale whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial stslements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the Charity and hen￿ for tsking reasonable steps for the prevention
and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Mr Brian Shaw
Date.. 4 November 2024
Page 7

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 5 APRIL 2024
Independent Examlnerfs Report to the Trustees of Mundesley Volunteer Inshore Llfeboat Ltd
(Yhe Charlty'l
report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April
2024.
Responslbllltles and Basls of Report
As the Trustees of the Charity land ils directors for the purFX)ses of Company lawl you are responsible for the
preparation of the accounts in accordan￿ with the requirements of the Companies Act 2006 {'Ihe 2006 Act'l.
Having satisfied myself that the accounts of the Charity 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 Charity's
accounts carried out under section 145 of the Charities Act 2011 {'Ihe 2011 Acl'l. In carrying out my
examination I have followed the Directions given by the Charity Commission under section 145{5llbl of the
2011 Act.
Independent Examingr's Statement
I have completed my examination. I confirm that no mallers have come to my attention in connection with the
examination giving me cause to believe..
awounling records were not kept in resped of the Charity as required by section 386 of the 2006 Act., or
the accounts do not accord with those records., or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fair, view which is not a maller considered as part of
an independent examination., or
the accounts have not been prepared in accordanee 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 accounts lo be
reached.
This report is made solely lo the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
{Ac¢ounts and Reportsl Regulations 2008. My work has been undertaken so that I might slate lo the Charity's
Trustees those matters l am required to stale to them in an independent examinerfs report and for no other
purpose. To the fullest extent permitted by law, I do not a¢￿pt or assume responsibility lo anyone other than
the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Dated.. 12 November 2024
Alice Lynch Bsc FCA DChA
MA Partners LLP
Chartererd Accounlanls
7 The Close
Norwich
Norfolk
NR1 4DJ
Page 8

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from-
Donations and legacies
other trading activities
Investments
Other income
33.268
70.744
17.259
11,411
33.268
70.744
17.259
11,411
134, 7 10
59,497
14, 781
6,234
Total income
132.682
132.682
274,622
Expenditure on:
Raising funds
Charitable activities
35.020
98,122
35.020
98,122
28,817
98,91 I
Total expenditure
133.142
133.142
727,728
Net {expenditure)lincome before net losses on
investments
Nel losses on investments
1460)
1761)
1460)
1761)
86,894
(23,573)
Net movement in funds before other recognised
gainslllossesl
{1,221)
{1,221)
63,321
other recognised gainslllossesl..
Gains on revaluation of fixed assets
27,171
27,171
Net movement in funds
25.950
25.950
63,321
Reconciliation of funds..
Total funds brought fornard
Net movement in funds
1.075.353
25.950
1.075.353
25.950
1,012,032
63,321
Total funds carried forward
1.101.303
1.101.303
1,075,353
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 10 24 form part of these financial stalemenls.
Page g

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
REGISTERED NUMBER: 01098775
BALANCE SHEET
AS AT 5 APRIL 2024
2024
2023
Note
Flxed assets
Tangible assets
Investments
12
262.199
525.670
257,923
490,882
13
787.869
748,895
Current assets
stocks
Debtors
Investments
14
15
16
2,571
6,632
171,129
136,349
3,573
4,302
166,438
154, 129
Cash al bank and in hand
316,681
329,042
Creditors.. amounts falling due within one
year
17
13,2471
(2.494)
Ngt current assets
313.434
326,548
Total net assets
1.101.303
1,075,353
Charity funds
Restricted funds
Unrestricted funds
19
19
1.101.303
7,075,353
Total funds
1.101.303
1,075,353
Page 10

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
REGISTERED NUMBER: 01098775
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2024
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordan￿ with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by..
Mr Brian Shaw
Date.. 4 November 2024
The notes on pages 12 10 24 form part of these financial stslemenls.
Page11

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng pollcles
1.1 General information
Mundesley Volunteer Inshore Lifeboat Ltd is a registered charitable company limited by guarantee,
incorporated in England and Wales, registration number 01098775. The members of the Charity
include the Trustees named on page 1.
The financial stslements are presented in sterling which is the functional currency of the Charity to
the nearest £.
The significant accounting policies in the preparation of these financial statements are set out
below. These policies have been consislenlly applied lo all years presented unless otherwise
slated.
1.2 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in aC￿rdan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102} leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Mundesley Volunteer Inshore Lifeboat Ltd meets the definition of a public benefit enlily under FRS
102. Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise staled in the relevant accounting policy.
1.3 Going concern
Following appropriate enquiries and analysis, the Trustees have positive expectation that the
Charity has adequate reSoUr￿S lo continue in operational existence for the foreseeable future. For
this reason, they continue to adopt the going concern basis in preparing the financial slatemenls.
1.4 Income
All income is recognised once the Charity has entitlement lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
The re￿gnitIOn of income from legacies is dependent on establishing enlillemenl, the probability of
receipt and the ability lo estimate with sufficient accuracy the amount re￿1Vable. Evidence of
enlillement lo a legacy exists when the Charity has sufficient evidence that a gift has been left to
them Ilhrough knowledge of the existence of a valid will and the death of the benefactor} and the
executor is satisfied that the property in question will not be required lo satisfy claims in the estate.
Receipt of a legacy must be recognised when il is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount lo be distributed to the
Charity, can be reliably measured.
Income lax recoverable in relation to investment income is recognised at the time the investment
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 completion of the service.
Page 12

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng pollcles (contlnuedl
1.5 Expendlture
Expenditure is recognised On￿ there is a legal or constructive obligation lo transfer economic
benefit lo a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for ils
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.6 Tanglble flxed assets and depreclatlon
Tangible fixed assets are capitalised and recognised when future economic benefits are probable
and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised al cost. After recognition, under the cost model,
tangible fixed assets are measured al cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charyed so as to allocate the cost of tangible fixed assets less their residual value
over their eslimaled useful lives, using the slraight-line method.
Depreciation is provided on the following basis..
Plant and machinery
Fixtures and fillings
Other fixed assets
250/0
150/0
1.7 Investments
Fixed asset investments are 8 form of financial instrument and are ini118lly recognised at their
transaction cost and subsequently measured al fair value al the balan￿ sheet date, unless the
value cannot be measured reliably in which case it is measured al cost less impaimienl. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
investments, in the statement of financial activities.
1.8 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid nel of any trade discounts due.
Page 13

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng pollcles (contlnuedl
1.10 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the dale of acquisition or opening of the deposit or similar
account.
1.11 Llabllltles
Liabilities are recognised when there is an obligation al the balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the selllement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay lo settle the debt or
the amount it has received as advanced payments for the goods or seNices il musl provide.
1.12 Flnanclal Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
1.13 Fund accountlng
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated lo the appropriate fund.
Income from donatlons and legacles
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
Legacies
13,268
20,000
13,268
20,000
19,672
123,438
33,268
33,268
734, 110
Page 14

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Income from other tradlng actlvltles
Income from fundralslng events
Unrestrleted
funds
2024
Total
funds
2024
Total
funds
2023
Boat day
Boxing day dip
other events
3.418
1,675
432
3,418
1,675
432
3,608
1,254
361
5,525
5,525
5,223
Income from non Charitable trading artivities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Shop sales
65,219
65,219
54,274
Investment Income
Unrestrleted
funds
2024
Total
funds
2024
Total
funds
2023
Income from listed investments
12,517
4,742
12,517
4,742
12,922
1,859
Income from unlisted investments
17,259
17,259
14, 781
Page 15

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Other Incomlng resources
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
VAT refund
11,411
11,411
6,234
Expenditure on raising funds
Costs of raising voluntary income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Boat day expenses
Boxing day dip expenses
Sundry
Other events
1.205
36
1,205
36
1,060
563
2,605
3,791
2,605
3,791
2,223
2,348
7.637
7,637
6,194
Other tradlng expenses
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Shop expenses
Shop f&f depreciation
20,941
605
20,941
605
10,965
1,956
21,546
21,546
12,921
Page 16

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Investment management Costs
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Investment management fees
5.837
5,837
9, 702
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Total
2023
Lifeboat & boathouse
98,122
98,122
98,911
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Total
funds
2024
Total
funds
2023
Lifeboat & boathouse
98,122
98,122
98,911
Page 17

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Analysls of expendlture by actlvltles (contlnued)
Analysls of dlrect costs
Llfeboat &
boathouse
2024
Total
funds
2024
Total
funds
2023
Depreciation
Lifeboat running costs and repairs
Crew medicals
Uniform & PPE
Training
Rates & waste
Water, Light & Heat
Telephone and broadband
Printing, postage & stationery
Insuran
Accountancy
Sundry
DBS checks
47,825
10,334
1,005
505
11,918
1,766
2,154
999
398
6,483
2,077
2.013
403
47,825
10,334
1,005
505
11,918
1,766
2,154
999
398
6,483
2,077
2,013
403
31,335
14, 781
575
836
21,862
1,597
1,435
679
450
5,065
1,953
372
29
Fuel
Boathouse maintenance
2,040
8,202
2,040
8,202
1,815
76,127
98,122
98,122
98,911
10.
Independent examiner's remuneration
2024
2023
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
2,010
1,900
11.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023- £NIL).
During the year ended 5 April 2024, no Trustee expenses have been incurred (2023- £NILJ-
Page 18

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
12. Tanglble flxed assets
Plant and Fixtures and Other fixod
machinery
fittings
assets
Totsl
Cost or valuation
At 6 April 2023
Additions
Disposals
294,461
28,210
(41.3431
30,109
218,615
27.596
543.185
55.806
141.343)
At 5 April 2024
281,328
30,109
246,211
557,648
Depreciation
At 6 April 2023
Charge for the year
On disposals
184,982
45,991
(41.3431
27,442
605
72,838
4.934
285.262
51.530
141.343)
At 5 April 2024
189,630
28,047
77,772
295,449
Net book value
At 5 April 2024
91,698
2,062
168.439
262.199
At 5 April 2023
109,479
2,667
145, 777
257,923
Page 19

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
13.
Flxed asset Investments
Listed
investments
Cost or valuation
At 6 April 2023
Additions
Disposals
Revaluations
490.882
70.461
162.844)
27,171
At 5 April 2024
525.670
Net book value
At 5 April 2024
525,670
At 5 April 2023
490,882
14. Stocks
2024
2023
Finished goods and goods for resale
2,571
3,573
15. Debtors
2024
2023
Due within one year
Prepayments and accrued income
6,632
4,302
6,632
4,302
16.
Current asset investments
2024
2023
Unlisted investments
171,129
166,438
Page 20

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
17. Credltors: Amounts falllng due wlthln one year
2024
2023
Accruals and deferred income
3,247
2,494
18.
Financial instruments
2024
2023
Financial assets
Financial assets measured at fair value through income and expenditure
307,478
321, 167
Financial assets measured at fair value through income and expenditure comprise of cash and cash
equivalents, and current investments.
Page 21

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
19. Statement of funds
ststement of funds - current year
Balance at 6
April 2023
Galnsl Balance at 5
{Losses) April 2024
Income Expendlture
Unrgstrictgd funds
General Funds
1,075.353
132,682
(133.142)
26,410
1,101.303
ststement offunds - prior year
Balance at
l Apnl 2022
Gains/
Balance at
(Losses) 5 April 2023
Income Expenditure
Unrestricted funds
General Funds
1,012,032
214,622
(121, 728)
(23,573)
t,075,353
Page 22

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
20. Summary of funds
Summary offunds - current year
Balance at 6
April 2023
Galnsl Balance at 5
{Losses) April 2024
Income Expendlture
General funds
1.075.353
132,682
{133.142)
26,410
1.101,303
Summary of funds - prior year
Balance al
l April 2022
Gains/
Balancg al
(Losses) 5 April 2023
Income Expenditure
General funds
1,012,032
214,622
(121, 728)
(23,573)
t,075,353
21.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
262,199
525,670
316,681
13,247)
262.199
525.670
316,681
{3.247)
Total
1,101,303
1,101.303
Page 23

MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
21. Analysls of net assets between funds Icontlnuedl
Analysls of net assets between funds - prlor perlod
un￿StrICted
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
257,923
490,882
329,042
{2,494J
257,923
490,882
329,042
(2,494)
Total
1,075,353
1,075,353
Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any
outstanding balances owing between related parties and the Charity al 5 April 2024.
Page 24