Règistered number: 01098775 Charity number: 266406 MUNDESLEYVOLUNTEER INSHORE LIFEBOAT LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. Report Independent Exarniner's Report Statement of financial activities Balanc8 shoat 10- 11 Notes to the financial statements 12-23
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025 Trustees Mr Christopher Payne, Trustee Mr Robert Francis, Trustee Mr Alan Verney, Trustee (resigned 4 Nov8mber 20241 Mr Nick Alexander, Trustee Mrs Elizabeth Payne, Trustee Mrs Janice Francis, Trustee Ms Wendy Copping, Trustee Mr Bryan Hall, Trustee Mr Brian Shaw, Chair, Truste8 Mr David Francis, Trustee Mr Neil Munro, Trustee Mr David Hearn, Trustee Miss Bgverley Fowlgr, Truslge 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 charterd Accountsnts 7 The Close Norwich Norfolk NR14DJ Page 1
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report together with the financial statements of the Charity for the year 6 April 2024 to 5 April 2025. The annual 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 requirements of the Charitable Companls governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordan wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) (effective 1 January 20191. sin the Charrfty 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. Objectives and activities a. Policies and objectives The Charity's objectives are for the public benefit, piimarily and wholly the preservation and saving of life from the sea. The Charity will execute this by the Maintenan and fitting out of 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 lo general guidance published by the Charity Cornmission relating lo public benefit, including the guidance 'Public benefit= running a Charity IP821'. Page 2
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Achievements and perfomiance - Main achievements ofthe Charity During this financAal year, phased replacement of Crew dry suits and safety equipment continued. Completed 2nd successfully passed the MCA'S 'declared facility status. audit. Completed transfer of ownership of access slope to the Service. Continued work to resolve the waterproofing issues associated with the new lifeboat intercom system. Carried out review of spares held for this system. Updated Crew training matrix to comply with MCA audit requirements. Main h211 of boathouse fitted with modem non-slip floor covering, complete with walkway marking. Completed purchase of replacement Crew minibus, complete with bespoke graphics. Completed purchase of 2 dynamic while board for boathouse lo aid with Crew training and presentations. Successfully opened current and savings accounts with Charity Aid Foundation ICAFI Bank to lessen reliance on Barclays Bank. Reviewed bank mandate with CAF Bank and increased signatories to 5 persons. Completed oxygen bottle stowage on lifeboat so th2102 is carried al all times. Completed purchase and inst21121ion of new notiee board on clifftop sealing area. Completed purchase of 5 personal loealor beacons as action from MCA'S 'deelared facility status, audit. Commenced plans to replace fuel and Friends storage containers. Successfully completed the intermediate lifeboat inspection for the rescue boat coding in conjunction with MECAL surveyor. Page 3
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Financial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going Gonrn basis can be found in the accounting policies. b. ReseeS policy The total fund8 of the Charity were £1,085,204 at 31 March 2025 (2024.. £1,107,303). Free reserves. being unreslricled funds not represented by fixed assets were £272,271 at 31 March 2025 (2024.. £373,434). The Charity has identified a target level of total funds of £1,000,000. The Charity has in place insurances specifically lo 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 insurance 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 Crew's safely equipment. The Charivs focus is to have sufficient reserves in place so should a need arise to build a new boat house and l or purchase a new boat, the Charity is able to do so. The reseNes policy strategy is to minimise operational disruption and loss of servi. Page 4
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Structure, governance and management a. Constitution Mundesley Volunteer Inshore Lifeboat Limited is registered as a Charitable Company limited by guarantee and was set 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. Mèthods of appointment orelection of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the temis of the Trust Deed. ¢. Organisational structure and decision-making policies The Trustees meet on a regular basis, a Minimum of twice a year, in order to monitor the progress of the Charity. to make key decisions and lo see that the legal requirements such as those of the Registrar of Companies, the Charity Commission and other regulatory bodies are 2dhered to. d. Policies adopted for the induction and training of Trustees The Charity reviews it's current policies in connection with the appointment and training of future Trustees each year. It's operational risk assessments are up lo dale and a risk assessment is undertaken for all fundraising aclivilies. A financial risk assessment is regularly being reviewed by the Trustees. Page 5
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Plans for future periods A further 2 Crew members to train and qualify to Class H Itracked vehicle) driving standard. Continue with the phased Crew dry suit and safety equipment replacernenl. Vvork towards developing more Crew lo helmsrnan standard. Shop Manager lo develop use of Vinled online selling for some donated shop items. Continue efforts to source new Trustees, Friends and Crew members to strengthen service. Engage solicitors to carry out a review and update of service Memorandum and Articles as these 2re now over 50 years old. Continue support of local community initiatives with sea safety talks in schools etc 2nd providing vi112ge defibrillator installation. Vvork with Trident Training and Consultancy to integrate Penthrox pain relief into casualty care. Update medical check cards to inclLJde Penthrox administration and latest treatment protocols. Pul in place fuel card lo offset problem caused by loss of local garage fuel supply. Complete purchase of replacement fuel and Friends storage containers and arrange installation. Replace petrol and diesel storage cans to lalesl standard lo overcome forecourt refilling issues. Survey marketplace to ascertain if current EPOS system is the most cost effective and workable solution. Review current Crew training structure to aSrtain if a move lo the RNLI system is appropriate. this potentially will aid Launching Authority decision making. Page 6
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2025 Statement of Trustees. responslbllltles The Trustees Iwho are also the DIr101S 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 Stsndards Iuniled Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees lo prepare financial slalements 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 stste of aff8irs of the Charity and of ils incoming resources and application of resources, including its income and expenditure, for that pericxj. In preparing these financial slalements. the Trustees are required lo.. select suitsble accounting FK)licies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the Charity wll continue in business. The Truslges ar8 responsibl8 for kgeping adequat8 accounting rgcords that ar8 sufficient lo show and 9xplain the Charity's transactions and disclose with reasonable accuracy at any time the fin8ncial position of the Charity and enable them to ensure that the financial slalements comply wlh the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking 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 Brlan Shaw Date.. 3 November 2025 Page 7
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025 Independent Examlner's Report to the Twstees of Mundesley Volunteer Inshore Llfeboat Limited {'the Charity'l I report lo the Charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025. Responsibilities and Basis of Report As the Trustees of the Charity {and its Directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.lhe 2006 Acl'l. H8ving satisfied myself that the accounts of the Charity are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in r9spect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 lllhe 2011 Acl'l. In carrwng out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm th8t no mattgrs have come lo my 8ttenlion in connection with the ex8minalion giving me c8use to believe.. 2ccounting records were not kept in SPect 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 wth the accounts'ng requirements of section 396 of the 2006 Act other than any requirement that the 8ccounls give 8 '1rue and fairf view which is not a matter considered as part of an independent examination., or the accounts have not been ppared in accordance wtth the methods and principles of the Stslemenl of Recommended Practice for accounting and reporting by ch8rities. I h8ve no concerns and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order lo enable 8 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 (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Charills Trustees those matters l am required to slate to them in an independent examiner's report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility to anyone other than the Charity and the Charitls Trustees as a body, for my work or for this report. Signed.. Dated.. 4 December 2025 Alice Lynch Bsc FCA DChA MA Partners LLP Chartererd Accountants 7 The Close Norwich Norfolk NR1 4DJ Page 8
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 5 APRIL 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from- Donations and legacies Other trading activities Investments Other income 13,758 74.612 19.561 4,551 13,758 74.612 19.561 4,551 33,268 70, 744 17,259 Total income 112.482 112.482 132,682 Expenditure on: Raising funds Charitable activities 29,956 102,339 29,956 102,339 35,020 98,122 Total expenditure 132.295 132.295 133.142 Net expenditure bgforg not gainsl(lossesl on invostments Nel gainslllossesl on investments Net movement in funds before other recognised gainslllossesl 119,813) 1.240 119,813) 1.240 {460) (767) 118,573) 118,573) (7,221) Other recognlsed galnslllosses): Gains on revaluation of fixed assets 2,474 2,474 Net movement In funds 116.099) 116.099) 25,950 Reconciliation of funds: Total funds brought fotward Net movement in funds 1.101.303 116,099) 1.101.303 116,099) 7,075.353 25,950 Total funds carrled fOard 1,085,204 1,085,204 1, 101,303 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 12 to 23 fom) part of these financial statements. Page 9
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) REGISTERED NUMBER: 01098775 BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Note Fixed assets Tangible assets Inveslm8nts 12 273,148 539.785 262, 199 525,670 13 812,933 787,869 Current assets Stocks Debtors Investments 14 15 16 5,202 6,723 176,966 87,220 2,571 6,632 t Tl, 129 136,349 Cash at bank and in hand 276,111 376,681 Current Ilabllltles Creditors= amounts falling due within one year 17 13,8401 (3,247) Net current assets 272.271 313,434 Total net assets 1,085,204 1. 101,303 Charity funds unStrIcted funds 18 1,085,204 7, 101,303 Total funds 1,085,204 t. 101,303 Page 10
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) REGISTERED NUMBER.. 01098775 BALANCE SHEET {CONTINUED> AS AT 5 APRIL 2025 The Charity was entiljed to exemption from audit under section 477 of the Companies Act 2006. The Members have not required the company lo obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act wtth respect to accounting records and preparation of financial statements. The financial statements have been preParj in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements We approved and aulhorised for issue by the Trustees and sign&J on their behalf by.. Mr Brian Shaw Dat8.' 3 Novemb8r 2025 The notes on pages 12 to 23 fortn part of these financ4al slalemenls. Page11
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcles 1.1 General information Mundesley Volunteer Inshore Lifeboat Limited 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 statements are presented in sterling which is the functional currency of the Charity to the nearest £. The significant awounting policies in the preparation of these financial statements are sel out below. These policies have been consislenlly applied to all years presented unless otherwise slated. 1.2 Basis of preparation of financial statements The financial stslemenls have been prepared in accordance wilh the Charities SORP IFRS 1021 Accounling and Reporting by Charities.. Stslemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effe¢tive 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 Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless othenNise staled in the relevant accounting policy. 1.3 Going concem Following appropriate enquiries and analysis, the Trustees have positive expectslion that the Charity has adequate resources lo continue in operational existen for the foreseeable future. For this reason, they continue to adopt the going conrn basis in preparing the financial statements. 1.4 Income All income is recognised On the Charity has entillemenl lo the income, it is probable that the income will be received and the amount of income re1vable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of reIpt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entillemenl lo a legacy exists when the Charity has sufficient ev1dern that a gift has been left lo them Ilhrough knowledge of the existen of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy Claims in the estate. Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value of the amount re1Vable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. Income tax recoverable in relation lo investment income is recognised al the lime the investment income is receivable. Other income is recognised in the period in which it is receivable and to the exlenl the goods have been provided or on completion of the servi. Page 12
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcles Icontlnued) 1.5 Expendlture Expenditure is recognised once Ih8re is a leg81 or constructive obligation lo Ir8nsfer economic benefit lo a third p8rty, il is probable that a transfer of economic benefits will be required in settlement and the amount of the oblig8tion can be measured reliably. Expenditure on raising funds includes all expenditure incurred by the Charity lo r8ise funds for its charitsble purposes and includes costs of all fundr8ising 8cb'vities events and non-ch8ri18ble tr8ding. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitys objectives, as well as any associated support Costs. All expenditure is inclusive of irrecovgrable VAT. 1.6 Tangible fixed assets and depreciation Tangible fixed assets are capilalised and recognised when future economic benefits are probable and the cost or v81ue of the asset can be measured reli8bly. Tangible fixed 8ssels 8r8 initially recognised at cost. After recognition, under the cost model, 18ngible fixed assets are measured at cost less accumulated depreciation and any accumu181ed imp3irmenl losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the str8ight-line method. Depreciation is provided on the following b8SIS'. Plant and machinery Fixtures and fittings Other fixed assets 25Yo 15Yo 2Yo 1.7 In¥estments Fixed 8ssel investments 8re a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair v81ue at the balance sheet dale, unless the value cannot be measured reliably in which case il is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, 8re combined and presented as 'GainsllLossesl on investments, in the slalemenl of financi81 activities. 1.8 stocks Stocks are valued al the lower of cost and nel realisable value after making due allowance for obsolete and slow-moving stocks. 1.9 Debtors Trade and other debtors are recognised 8t the selllemenl amount 8fter any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. Page 13
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcles Icontlnued) 1.10 Cash al bank and In hand Cash al bank and in hand includes sh and short-term highly liquid inveslmgnts with a short malurily of three months or less from the datg of acquisition or opening of the deposit or similar 8ccount. 1.11 Llabllltles Liabilities are recognised when there is an obligation al the balance sheet d81e as 8 result of 8 P8sI evgnt, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the setuement can be eslim8ted reliably. Liabilities are recognised at the amount that the Charity anticipates il will pay lo settle the debt or the amount il has received as advanced payments for the goods or services it musl providg. 1.12 Financial instruments The Charity only h8s financial 8ssels and financi81 liabilities of a kind that qualify as basic financial instruments. B8sic 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 al amortised cost using the effective interest method. 1.13 Fund accountlng General funds are unrestricted funds which are available for use al 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 to the appropriate fund. Income from donatlons and legacles Unrestricted funds 2025 Total funds 2025 Total funds 2024 Donations 13,758 13,758 13,268 20,000 Legacies 13.758 13,758 33,268 Page 14
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Income from olher tradlng actlvltles Income from fundralslng events Unrestricted funds 2025 Total funds 2025 Total funds 2024 Boat d8y Boxing day dip Other events 3.657 1.167 1.394 3,657 1,167 1,394 3,418 1,675 432 6,218 6,218 5,525 Incomo from non charitable trading activities Unrestricted funds 2025 Total funds 2025 Total funds 2024 Shop sales 68,394 68,394 65,279 Investment income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Income from listed investments Income from unlisted investments 13.552 6,009 13,552 6,009 12,517 4, 742 19.561 19,561 17,259 Page 15
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Other Incomlng resources Unrestricted funds 2025 Total funds 2025 Total funds 2024 VAT refund Profit on disposal of fixed assets 3,051 1,500 3,051 1,500 fl,411 4,551 4,551 11,491 Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Boat day expenses Boxing day dip expenses Sundry Other events 1,294 1.138 22 2.166 1,294 1,138 22 2,166 1,205 36 2.605 3,791 4,620 4,620 7,637 Other trading expenses Unrestricted funds 2025 Total funds 2025 Total funds 2024 Shop expenses Shop f&f depreciation 16.364 605 16,364 605 20,947 605 16.969 16,969 21,546 Page 16
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Investment management costs Unrestricted funds 2025 Total funds 2025 Total funds 2024 Investment management fees 8.367 8,367 5,837 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2025 Total 2025 Total 2024 Lifeboat & boathouse 102.339 102,339 98.122 Analysis of expenditure by activities Activities undertaken directly 2025 Total funds 2025 Total funds 2024 Lifeboat & boathouse 102,339 102,339 98,122 Page 17
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysls of expendlture by actlvltles Icontlnuedl Analysls of dlrect costs Lifeboal & boathouse 2025 Total funds 2025 Total funds 2024 Depreciation Lifeboat running costs and repairs Crew medicals Unifomi & PPE Training 51,619 9.128 1.257 3,764 12,451 51,619 9,128 1,257 3,764 12,451 47,825 10,334 1,(105 505 tl,918 F iii Rates & waste Water, Light & Heat Telephone and broadband Printing, postage & stationery Insurance 1.953 3.306 937 787 1,953 3,306 937 787 6,419 2,365 1,954 136 1, 766 2,154 999 398 6.419 2.365 1,954 136 6,483 2,017 2,013 403 Accountancy Sundry DBS checks Fuel 1.393 4.870 1,393 4,870 2,040 8,202 Boathous8 maintenan¢9 102,339 102,339 98,122 10. Independent examiner's remuneration 2025 2024 Fees payable to the Charity's independent examiner for the independent examination of the Charitls annual accounts 2,220 2,082 11. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NILJ. During the year ended 5 April 2025, no Trustee expenses have been incurred (2024- £NIL). Page 18
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 12. Tanglble fixed assets Plant and Fixtures and Other fixed machinery fittings assets Total Cost or valuation Al 6 April 2024 Additions Disposals 281,328 56,725 110,9531 30,109 246,211 6,448 557,648 63,173 110.953) At 5 April 2025 327,100 30,109 252,659 609,868 Depreciation Al 6 April 2024 Charge for Ihg year On disposals 189,630 46,556 110,9531 28,047 605 77,772 5,063 295,449 52,224 110.953) At 5 April 2025 225,233 28,652 82,835 336,720 Net book value Al 5 April 2025 101,867 1,457 169,824 273.148 At 5 April 2024 97,698 2,062 168,439 262, 199 Page 19
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 13. Flxed asset Investments Listed investments Cost or valuation Al 6 April 2024 Additions Disposals Revaluations 525,670 75,997 164.356) 2,474 At 5 April 2025 539,785 Net book value At 5 April 2025 539,785 Al 5 April 2024 525,670 14. Stocks 2025 2024 Finished goods and g(x)ds for resale 5,202 2,577 15. Debtors 2025 2024 Due within one year Prepayments and accrued income 6,723 6.632 6,723 6,632 16. Current asset investments 2025 2024 Unlisted investments 176,966 171,129 Page 20
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 17. Credltor6'. Amounts falllng due wlthln one year 2025 2024 Accruals and def8rred income 3,840 3,247 18. Statement of funds Statement of funds - current year Balance at 6 April 2024 Gainsl Balance at 5 {Lossesl April 2025 Income Expenditure Unrestrict8d funds General Funds 1,101.303 110,982 (130.795) 3,714 1,085.204 Statement of funds - prior year Balance al 7 April 2023 G8ins/ Balance al (Loss6s) 5 April 2024 Income Expenditure Unrestricted funds General Funds 1,075,353 132, 682 (133, 142) 26,410 7, 101,303 Page 21
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 19. Summary of funds Summary of funds- current year Balance at 6 April 2024 Gainsl Balance at 5 {Lossesl April 2025 Income Expenditure General funds 1,101,303 110,982 1130,795) 3,714 1,085,204 Summary of funds- prior year Balance al l April 2023 Gains/ Balance al (Losses) 5 April 2024 Income Expenditure General funds 1,075,353 132, 682 (133, 142) 26,410 1, 101,303 20. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Fixed asset investments 273,148 539,785 276,111 13,840} 273,148 539,785 276.111 {3.840) Current assets Creditors due within one ye8r Total 1,085,204 1,085,204 Page 22
MUNDESLEY VOLUNTEER INSHORE LIFEBOAT LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 20. Analysls of net assets between funds Icontlnuedl Analysls of net assets betsveen funds - prlor year 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 (3,241) 262, 199 525,670 316,687 (3,247) Total I, f Of,303 t. 101,303 21. Related party transactions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balanS owing between related parties and the Charity al 5 April 2025. Page 23