**REGISTERED CHARITY NUMBER: 274451**
## **Trustees' Report and**
**Unaudited Financial Statements for the Year Ended 28 February 2025**
## **for**
## **Hemsby Inshore Rescue Services**
Fairhead Bradford
5 Queen Street Great Yarmouth Norfolk NR30 2QP
**Hemsby Inshore Rescue Services**
## **Contents of the Financial Statements for the Year Ended 28 February 2025**
||**Page**|
|---|---|
|**Trustees' Report**|1 to 2|
|**Statement of Trustees' Responsibilities**|3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to 13|
|**Detailed Statement of Financial Activities**|14 to 15|
## **Hemsby Inshore Rescue Services**
## **Trustees' Report for the Year Ended 28 February 2025**
The trustees present their report with the financial statements of the charity for the year ended 28 February 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Objectives and activities**
## **Objectives and aims**
The charity's objects are to prevent loss of life and injury at sea and the Norfolk Broads. This is achieved by the provision and maintenance of an inshore rescue service in full cooperation with His Majesty's Coast Guard and other emergency services.
The Coastguard tasks Hemsby Inshore Lifeboat for any rescue cooperation they determine we are suitable for in our area of responsibility. When tasked we will operate in collaboration with the full range of emergency services, including other lifeboat services, independent and RNLI.
## **Public benefit**
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Financial review**
## **Going concern**
The trustees can confirm that charity has returned to normal levels of fund raising seen previously pre covid-19. With the reserves policy being a minimum of three year's operating costs presents in the bank, we successfully navigated a challenging period for the charity and its crew members.
We continue to seek prudent and innovative approaches to raising funds which has resulted in no going concern issues. Our year on year expenditure and cash reserves show that we continue to be sustainable.
## **Reserves policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three years operational costs. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Structure, governance and management**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 1
## **Hemsby Inshore Rescue Services**
## **Trustees' Report for the Year Ended 28 February 2025**
Hemsby Inshore Rescue Service (HIRS) also known as Hemsby Lifeboat is an unincorporated charity and is governed by the rules and regulations dated May 2024.
The trustees who served during the year and up to the date of signature of the financial statements were: C Batten
L Barnes A Deeks D Hurd A Jones M Litten M Watts K Fenn
The charity is constituted by a committee of seven members. These individuals are responsible for the governance of the charity and all financial decisions. Operational management and decisions come under the control of the Coxswains of the service and are ratified by the above-named board of trustees.
All the trustees of the service are fully aware and up to date with current regulations and familiar with CC3 and CC3a
The charity's principal purpose continues to be Search and Rescue (SAR) operations at sea off the immediate coastline centred on Hemsby Gap but overlapping with Caister Lifeboats and Sea Palling Lifeboats for continuity and the Norfolk Broads and inland waters in Suffolk. This is achieved through the maintenance and operation of two lifeboats and a fully trained and qualified crew. Hemsby Lifeboat continue to remain under the control of the Coastguard as a declared facility, who still remain our primary launch authority
## **Reference and administrative details Registered Charity number**
274451
## **Principal address**
Hemsby Beach The Gap Beach Road Hemsby Great Yarmouth NR29 4HS
## **Trustees**
## **Independent Examiner**
Fairhead Bradford 5 Queen Street Great Yarmouth Norfolk NR30 2QP
Approved by order of the board of trustees on 19 December 2025 and signed on its behalf by:
Mrs A Deeks - Trustee
Page 2
## **Hemsby Inshore Rescue Services**
## **Statement of Trustees' Responsibilities for the Year Ended 28 February 2025**
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website.
Page 3
## **Independent Examiner's Report to the Trustees of Hemsby Inshore Rescue Services**
## **Independent examiner's report to the trustees of Hemsby Inshore Rescue Services**
I report to the charity trustees on my examination of the accounts of Hemsby Inshore Rescue Services (the Trust) for the year ended 28 February 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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 to be reached.
S Dickerson FCCA
Fairhead Bradford 5 Queen Street Great Yarmouth Norfolk NR30 2QP
19 December 2025
Page 4
## **Hemsby Inshore Rescue Services**
## **Statement of Financial Activities for the Year Ended 28 February 2025**
|**28/2/25**
**Unrestricted**
**funds**
**Notes**
**£**
**Income and endowments from**
Donations and legacies
71,850
Other trading activities
3
70,439
Investment income
4
8,123
**Total**
150,412
**Expenditure on**
Raising funds
5
57,430
**Charitable activities**
Charitable activity
73,909
**Total**
131,339
**NET INCOME**
19,073
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
59,028
**Net movement in funds**
78,101
**Reconciliation of funds**
Total funds brought forward
640,873
**Total funds carried forward**
718,974|**29/2/24**
**Total**
**funds**
**£**
89,389
78,342
3,860
171,591
20,742
110,364
131,106
40,485
-
40,485
600,388
640,873|
|---|---|
The notes form part of these financial statements
Page 5
## **Hemsby Inshore Rescue Services**
## **Balance Sheet 28 February 2025**
|**28/2/25**
**Unrestricted**
**funds**
**Notes**
**£**
**Fixed assets**
Tangible assets
8
221,019
**Current assets**
Stocks
9
39,526
Debtors
10
1,469
Prepayments and accrued income
4,313
Cash at bank and in hand
457,424
502,732
**Creditors**
Amounts falling due within one year
11
(4,777)
**Net current assets**
497,955
**Total assets less current liabilities**
718,974
**NET ASSETS**
718,974
**Funds**
12
Unrestricted funds
718,974
**Total funds**
718,974|**29/2/24**
**Total**
**funds**
**£**
208,219
24,504
-
4,009
408,828
437,341
(4,687)
432,654
640,873
640,873
640,873
640,873|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 December 2025 and were signed on its behalf by:
A Deeks - Trustee
The notes form part of these financial statements
Page 6
**Hemsby Inshore Rescue Services**
## **Notes to the Financial Statements for the Year Ended 28 February 2025**
## **1. Charity information**
Hemsby Inshore Rescue Service is a unincorporated charity and is governed by the rules and regulations dated 23 September 1977.
## **2. Accounting policies**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
- the requirement of paragraph 33.7;
- the requirement of paragraph 24(b) of IFRS 6.
## **Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as contingent asset.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - 2 years
Page 7
continued...
**Hemsby Inshore Rescue Services**
**Notes to the Financial Statements - continued for the Year Ended 28 February 2025**
## **2. Accounting policies - continued**
|**Tangible fixed assets**||
|---|---|
|Boat & equipment|- 10% on reducing balance|
|Fixtures and fittings|- 20% on reducing balance|
|Motor vehicles|- 10% on reducing balance|
|Computer equipment|- 25% on cost|
During the year, the trustees undertook a review of the charity’s tangible fixed assets. As a result, certain asset classes were revalued to reflect their current value, and a number of assets that were no longer in use or had no recoverable value were written off
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **3. Other trading activities**
|Fundraising events
Shop income
Sponsorships
Compensation
**Investment income**
Deposit account interest|**28/2/25**
**£**
23,222
33,817
900
12,500
70,439
**28/2/25**
**£**
8,123|**29/2/24**
**£**
42,018
34,910
1,414
-
78,342
**29/2/24**
**£**
3,860|
|---|---|---|
## **4. Investment income**
Page 8
continued...
**Hemsby Inshore Rescue Services**
## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025**
## **5. Raising funds**
## **Raising donations and legacies**
|**Raising donations and legacies**|||
|---|---|---|
||**28/2/25**|**29/2/24**|
||**£**|**£**|
|Support costs|57,430|20,742|
## **6. Trustees' remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 28 February 2025 nor for the year ended 29 February 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 28 February 2025 nor for the year ended 29 February 2024.
## **7. Comparatives for the statement of financial activities**
|**Comparatives for the statement of financial activities**||
|---|---|
|**Income and endowments from**|**Unrestricted**
**fund**
**£**|
|Donations and legacies|89,389|
|Other trading activities|78,342|
|Investment income|3,860|
|**Total**|171,591|
|**Expenditure on**||
|Raising funds|20,742|
|**Charitable activities**||
|Charitable activity|110,364|
|**Total**|131,106|
|**NET INCOME**|40,485|
|**Reconciliation of funds**||
|Total funds brought forward|600,388|
|**Total funds carried forward**|640,873|
Page 9
continued...
## **Hemsby Inshore Rescue Services**
## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025**
## **8. Tangible fixed assets**
|**Cost or valuation**
At 1 March 2024
Additions
Disposals
Reclassification
At 28 February 2025
**Depreciation**
At 1 March 2024
Charge for year
Eliminated on disposal
Revaluation adjustments
Reclassification/transfer
At 28 February 2025
**Net book value**
At 28 February 2025
At 29 February 2024
**Cost or valuation**
At 1 March 2024
Additions
Disposals
Reclassification
At 28 February 2025
**Depreciation**
At 1 March 2024
Charge for year
Eliminated on disposal
Revaluation adjustments
Reclassification/transfer
At 28 February 2025
**Net book value**
At 28 February 2025
At 29 February 2024|**Buildings**
**£**
158,482
-
(20,501)
(29,743)
108,238
41,324
48,269
(13,800)
-
(8,923)
66,870
41,368
117,158
**Motor**
**vehicles**
**£**
16,705
-
-
-
16,705
16,035
-
-
(15,330)
-
705
16,000
670|**Boat &**
**equipment**
**£**
251,451
38,982
(70,083)
29,743
250,093
165,505
8,064
(49,029)
(43,699)
8,923
89,764
160,329
85,946
**Computer**
**equipment**
**£**
1,632
-
(490)
-
1,142
694
408
(245)
-
-
857
285
938|**Fixtures**
**and**
**fittings**
**£**
9,861
1,248
(2,925)
-
8,184
6,354
951
(2,158)
-
-
5,147
3,037
3,507
**Totals**
**£**
438,131
40,230
(93,999)
-
384,362
229,912
57,692
(65,232)
(59,029)
-
163,343
221,019
208,219|
|---|---|---|---|
Page 10
continued...
## **Hemsby Inshore Rescue Services**
## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025**
## **8. Tangible fixed assets - continued**
Cost or valuation at 28 February 2025 is represented by:
|Valuation in 2025
Valuation in 2025
**9.**
**Stocks**
Raw materials
**10.**
**Debtors: amounts falling due within one year**
VAT
**11.**
**Creditors: amounts falling due within one year**
Other creditors
**12.**
**Movement in funds**
**At 1/3/24**
**£**
**Unrestricted funds**
General fund
640,873
Designated
-
640,873
**TOTAL FUNDS**
640,873|**Buildings**
**£**
108,238
**Motor**
**vehicles**
**£**
16,705
**Net**
**movement**
**in funds**
**£**
79,648
(1,547)
78,101
78,101|**Boat &**
**equipment**
**£**
250,093
**Computer**
**equipment**
**£**
1,142
**28/2/25**
**£**
39,526
**28/2/25**
**£**
1,469
**28/2/25**
**£**
4,777
**Transfers**
**between**
**funds**
**£**
(298,000)
298,000
-
-|**Fixtures**
**and**
**fittings**
**£**
8,184
**Totals**
**£**
384,362
**29/2/24**
**£**
24,504
**29/2/24**
**£**
-
**29/2/24**
**£**
4,687
**At**
**28/2/25**
**£**
422,521
296,453
718,974
718,974|
|---|---|---|---|
Page 11
continued...
## **Hemsby Inshore Rescue Services**
## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025**
## **12. Movement in funds - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated
**TOTAL FUNDS**|**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
150,412
(129,792)
-
(1,547)
150,412
(131,339)
150,412
(131,339)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
59,028
79,648
-
(1,547)
59,028
78,101
59,028
78,101|
|---|---|---|
## **Comparatives for movement in funds**
|**At 1/3/23**
**£**
**Unrestricted funds**
General fund
600,388
**TOTAL FUNDS**
600,388
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
171,591
**TOTAL FUNDS**
171,591|**Net**
**movement**
**At**
**in funds**
**29/2/24**
**£**
**£**
40,485
640,873
40,485
640,873
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(131,106)
40,485
(131,106)
40,485|
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Designated
**TOTAL FUNDS**|**At 1/3/23**
**£**
600,388
-
600,388
600,388|**Net**
**movement**
**in funds**
**£**
120,133
(1,547)
118,586
118,586|**Transfers**
**between**
**funds**
**£**
(298,000)
298,000
-
-|**At**
**28/2/25**
**£**
422,521
296,453
718,974
718,974|
|---|---|---|---|---|
Page 12
continued...
## **Hemsby Inshore Rescue Services**
## **Notes to the Financial Statements - continued for the Year Ended 28 February 2025**
## **12. Movement in funds - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated
**TOTAL FUNDS**|**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
322,003
(260,898)
-
(1,547)
322,003
(262,445)
322,003
(262,445)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
59,028
120,133
-
(1,547)
59,028
118,586
59,028
118,586|
|---|---|---|
## **13. Related party disclosures**
There were no related party transactions for the year ended 28 February 2025.
## **14. Designated funds**
Designated funds form part of the charity’s unrestricted funds and represent amounts set aside by the trustees for specific future purposes. These designations reflect the trustees’ current intentions and may be reviewed or reversed should circumstances change.
At the balance sheet date, the trustees have designated the following amounts:
## Property (£170,000):
Funds set aside towards the future purchase of a property to support the charity’s charitable activities and operational needs.
## D Class Trailer (£8,000):
Funds designated for the acquisition of a D Class trailer to support the new D Class Vessel launch capability
Sonar Equipment (£10,000): Spent in year £7,447
Funds designated for the purchase of sonar equipment to enhance the charity’s operational capability and service delivery.
## Shop (£20,000):
Funds designated for the development or fit-out of a shop facility intended to support the charity’s activities and generate income.
## SAR equipment (£50,000)
Funds designated for search and rescue equipment replacement and improvements to support the charity service delivery
## Operating Costs (£20,000):
Funds set aside to support anticipated future operating costs, providing financial resilience and continuity of activities.
## D Class (£20,000): Spent in year £8,025
Funds designated to support D Class vessel purchase and refurbishment costs.
The total designated funds at the year end amount to £296,453. All designated funds remain unrestricted and are available to be reallocated at the discretion of the trustees.
Page 13
**Hemsby Inshore Rescue Services**
## **Detailed Statement of Financial Activities for the Year Ended 28 February 2025**
|**Income and endowments**
**Donations and legacies**
Donations
Grants
**Other trading activities**
Fundraising events
Shop income
Sponsorships
Compensation
**Investment income**
Deposit account interest
**Total incoming resources**
**Expenditure**
**Charitable activities**
Insurance
Light and heat
Telephone
Postage and stationery
Lifeboat repairs
Sundries
Repairs and maintenance
Vehicle running costs
Cost of shop sales
Share of support costs
Share of support costs
**Support costs**
**Finance**
Bank charges
Depreciation of tangible fixed assets
Loss on sale of tangible fixed assets
**Governance costs**
Sundries
Accountancy and legal fees|**28/2/25**
**£**
61,118
10,732
71,850
23,222
33,817
900
12,500
70,439
8,123
150,412
5,241
1,748
1,055
431
10,299
3,546
15,116
4,780
(2,108)
-
-
40,108
1,218
57,692
28,766
87,676
1,155
2,400
3,555|**29/2/24**
**£**
86,089
3,300
89,389
42,018
34,910
1,414
-
78,342
3,860
171,591
5,179
1,539
766
577
19,219
1,099
18,062
6,771
23,938
420
2,511
80,081
-
30,283
1,758
32,041
18,984
-
18,984|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14
**Hemsby Inshore Rescue Services**
|**Detailed Statement of Financial Activities**
**for the Year Ended 28 February 2025**
Total resources expended
**Net income**|**28/2/25**
**£**
131,339
19,073|**29/2/24**
**£**
131,106
40,485|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15