FRESHWATER OfrIOEP@tpd] LIFEB6AT .1.. ANNUAL REPORT 2025 1111 IRISNWAftii IiDIp' MT IIF OAT Y4 4 6 8 Legal and ?dmini5trative information Report of the trustees Independentexamlners report 10 12 14 Statement of Flnandal Activities Balance Sheet Notes to thé Flnandal Statements Legal and administrative information Executive Commlttee.. Barry Sales* Tony Moore Martin Gould* knh MacG￿Or Rlchard Alen Ronan Mccann. Andy Dye. David Kempster Josh MacGregor Rod Adams Marbn Cohen Chaimwn Senior coxswain OFerations manager Honorary se(￿ry Retsil manager Treasurer Solent Search and Rescue Organlsation representstive Station manager Principal training officer Prinuple Fund Raw RespO￿ble Person *these In(dlvlduals are tTUStees ChaTity Numtjer: 293657 Registered Addre5S: The Boathouse Freshwater Bay Isle of Wlght P040 9RA Bank.. The Ctrop Financial snapshot Charlty Income for the year to 30 September 2025 Donatlons durlng the year £125k £40k Charity net Profit for the yeav to 30 SeptembÈr 2025 Cost of maintenance of Lifeboat and Llfeboat Ststion £IOk £27k IRESHWATER INDEPENDENT IIFEBOAT Report of the Trustees Strutture, Governance and Management The Freshwater Inshore Rescue Organi5ation was established In 1972 and was registered with the CharityCornmi55ion in 1986 after the withdrawal of the Tsle ofwight Council involvement. The Charity was renamed the Freshwater Lifeboat Organisalion in 1996. The registered number has been 293657 since 1986. compliment the Planning Approval and enable us to offer facilities to support local community events. In 2025 a Bi15 of quantities was produced lo enable tenders to be obtained for the requlred bulldlng works. From these tenders a preferred contractor has been selerted, The unit is well supported by both fund-raising volunteers and crew. We are delighted to See 50 many young volunteers tsking life opportunitie5. Over the past 16 years we have enabled many young local people to develop their chosen course in Ilfe. The Executive Committee are elected or approved on an annual basi5. The Trust is organised as an Independent assoclatlon of members who pay an annual subscTlPtion with an Executive Comrnittee comprising elected and, ifapproprlate, co-opted members. The Trustees are either chosen from long-serving Committee Members or for their technical expertise. The Charity operates so that the Trustees meet regularly to manage their affairs. There are no employees. We are very grateful for the support ol the volunteers who support our projects and wlthout whom thls would not be possible. Some of our fundlng Is provided by the Income from an onslle Charity shop, which the Charity runs. Financial Review The finan¢ial statemenrs for the year ended 30 September 2025 are Sncluded on pages 10 through to 18. They have been prepared in accordance with the Statement ol Recommended Practice.. Accounting and Reporting by Charities IFRS1021 (effective l January 20151. The Charity's total incorne was £125,445 compared to É236,042 In 2024125. The shop had strong trading all season combined with the donations collected frorn open days and normal trading again broke all record5. Thanks to the efforts of Richard Allen the shop manager, and hi5 tearr of volunteers. The unit would also like to thank Rod Adam5 MBE, for his continued efforts managing collection boxes from local retail venues in West Wlght and application ol grants for the unit. Object and Actlvltles of the Trust lal To promote technical education in lifesaving and resuscitation of the apparently ijrowned, and to provide suitable training ol personnel. (bl The Charity is a declared facility of His Majesty's Coastguard (HMCGI and undergoes operational audits by HMCG and the SSRO. The Charity operates a new 8.Sm Atlantic Rigid Inflatable Boat and a 'D' Class. Incorne from the LSfeboat Lotto of £11,87712024.' £11,726), which benefits all three independent lifeboats on the island. In this period the Atlantic 85 and D Class have called out on numerou5 shouts. Tot31 operating expenses for the year were £67,311.67. The operating profit ft>r the period is £ 41,744. After operating the Atlantic 85 and D Class for over a year the unit now has clarity to OLJr operational costs in the future. A second D class was donated to the unit and came into servi in spring 2024. This enable5 the unit to cover a greater search a￿a in shallow waters t105e inshore. Thls has been an exciting time for the charity with the operation of the Atlantic 85 and the fin6lization of plans and fundraising for the boathouse exten5i0n. Plans for a ffluch-needed extension to the Boathou* and shop were submitted to IOW County Council and approved. This will enable us to house a new launch and recovery tractor, provide a larger shop and enhance our crew training facilitie5. The Truste￿ consider the finances of the charity to be sound. During 2024 Building Regulations approval was sort to Executlve Commlttee's Responslblllties In Relation to the Financial Statements Tlie Execlltive Coiiimittpe meIiiber5 are required by conipany Idw lo prepare fiiiaiicial statements for each financial year which give a true and fair view of the financial activities of he Charity of its fin3iici6I position at the end of that year. In preparing those financial statenients the Trustees a reoLiired to.. al %r.lert suitable accounting policies and apply them tonsistently. b) make iudgemenrs and estimate5 that are reasonable and prudent. cl state ¥vhether the policie5 adopted are in accordance with applicable accoiinting stanclards and staEments ol recommentted p., hctice, subject to any niaterial departures Oisclose¢ and explained In the financial statements. dl prepare the financial statements on a Going Coiicern basis unless it 15 iiiappropriate to è5surNe the Charity will continue to operate The Executive Committee are ￿spOnSible for keepiiig proper accounting records which disclose, with reasonable accuracy at any time, tl)e financial positioi) of the Cl)arity and enèble them to ensure thèt the financial staternents comply with the Cliarities Art 2011. They are also responsible lor safeguarding the assets of the Charity and for taking reasonable steps lor the prevention nd detection of fraud and other irregularities. Going Concern The Charity's financial statement5 have been prepared on a going concern basis which assumes an ability to continue operating for the foreseeable future. Trustees have considered the revised otEraknng costs of the new AVantic 85 and have concluded that there 15 a reasonable expettation that the Charity has adequate resources to continue in operational existence for the foreseeable future. No other significant Cciiicerns have been noted, and we consider it appropnate to conknnue to prepare the financial statements on a going concern basis. Thi5 report was approved ty the Executive Committee on 19 26and signed on its behalf by Barry Sales Chairman & Trustee 08 Report of the Independent Examiner Independent Examiner's Report to the Trustees of Freshwater ￿feboat We report to the charity trustees on examination of the accounts of the charSty for the year ended 30 September 2025 which are set out on page5 6 to 18. Responslbllities and basis of report As the charity's trustees you are responsible for the preparats'on of the accounts in accordance with the requirements of the Charities Art 20111'the Act). We report in respect of our examinatlon of the charivs accounts carried out under section 145 of the Act and in carrying out our examination we have followed all the applicable Dlrections given by the Charity Commission under sects'on 14515llbl of the Act. Independent examiner's sratement We hève completed our examinatlon and conffmi that no materlal matters have come to our attentlon In connectlon with the examination giving us cause to believe that in any material respect.. l. accounting records were not kept in respect of the charlty as requlred by sertlon 130 of the Act,. or l. the account5 do not accord with those records,. or 3, the accounts do not comply wlth the appllcable requireTnents concernln9 the form and content of accounts set out ￿n the Charltles (Accounts and Reports) Regulations 2008 other than any requlrement that the accounts glve a 'true and fair view. which is not a matter considered as part of an independent examinallon. We have no concerns and have come acros5 no other matter5 in connectlon with the examlnatlon to whlch attenllon should be drawn in this report in order to enable a proper understarTrding of the accounts to be reached. Apple Accoun ancy Ltd Chartered Certlfled Accountants 5 Holyrood Street Newport Isle of Wight P030 SAU Dale.. 24 December 2025 ¥financial statementr, io Statement of financial activities for the year ended 30 September 2025 2025 2025 Restrocted Funds 2025 Total Funds Unrestricted Funds INCOMING RESOURCE5 Incoming resources from generated fund$ Voluntary Income Boxes Donations Memberships Legacies Actlvltles for Generatlng Funds Shop Income Fundraising activities Llfeboat Lottery Other Investment Income and Interest Interest received Income resources from charltsble actSvltie5 Grants Other income resources other income TOTAL INCOMING RESOURCES 2,029 39,305 410 2,029 39,305 410 68,946 68,946 11,877 11,877 2,878 2,878 125,445 125,445 RESOURCES EXPENDED C05t of Generating Funds C05t of fundraising Opening stock - finished g¢)ods Closing 5tock- finished goods 132 7,676 {7,415) 132 7,676 (7,4151 Cost of goods sold Shop rnanagement and dired costs 38,183 1,532 38,183 1,532 Charitable Activitles Fuel Trainlng costs Other operating expenses Charitsble activity overheads {Note 21 1,264 5,097 1,399 27,203 1,264 5,097 1,399 27,203 Dep￿CiatIon Profit on disposal of FA 39,272 39,272 Governance Costs Independent examination TOTAL RESOURCES EXPENDeD 982 982 115,326 10,119 115.326 10,119 NET MOVEMENT IN FUNDS RECONCILtATION OF FUNDS Total funds brought forward 985,270 985,270 Total Funds Carrled Forward 995.389 995.389 zi Statement of financial activities for the year ended 30 September 2024 2024 2024 2024 Totsl Funds Funds INCOMING RESOURCES Incoming resource5 from 9enerated tsnd5 Voluntary Income Boxes Donations Memberships LegacSes Artivities for Generatlng Funds 2,348 74,628 380 59,071 74.628 S9,071 Shop irKome Fundraising activlties Lifeboat Lottery Other Inve5tmert Income and Interert Interest ￿e1Ved IrKome resources frt)m charitsue activities Grants Other income resources Other income TOTAL INCOMING RESOURCES RESOURCES EXPENDED Cost of Generating Fund5 Cost of fundraising Openlng stock - flnlshed aoslng st(Kk . finlsh&J g¢x￿S 85.199 85,199 11.726 11,726 2.69 2,690 236,042 236,042 232 5,516 17.6761 232 5,516 17,6761 cost of goods sold Shop management and direct Costs 46,￿8 1,620 1.620 Charitabfe Actiwties Fuel Training costs Other operating expenses Charitable activity overheats (Note 2) Depreclatlon Loss on disposal of FA Governance Costs Tndependent examination TOTAL RESOURCES EXPENDED 2,101 4,063 3,337 36.135 38,091 5.271 2,101 4.063 3,337 36,135 38,091 5,271 734 136,412 99,630 136.412 99.630 MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward 8B5,640 885,640 Total Funds Carried Forward 985,270 985,270 Balance sheet as at 30 September 2025 Asat 30.09.25 Asat 30.09.24 Note Fixed as*ts Tangible assets 233,474 270,307 Current assets Stock 7,415 3,257 752,037 7,676 3,247 706,418 Debtors Cash at bank and in hand 762,709 {793) 717,341 (2,3781 Creditor5: amounts falling due within one year Net current assets 761,915 714,963 Net assets 995,389 985,270 The funds of the charity Restritted income fund io Unrestricfrd income funds io 995,389 985,270 Total funds 995,389 985,270 The Financial Statements were approved by the Trustees authorised for issue on................... . on their behalf by .and signed Ronan Mccann Honorary TreaSu￿r & Trustee 14 Notes to the financial statements P4 15 Notes to the financial statements l. Accounting Pollces Account5ng Conventions The financial statements have been prepared under the historical cost convention, and In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the uirernents ol the Statement of Recornmended Practice, ￿cOUntIng and Reporting by Charities IFR51021 lapplic3ble l January 20151 ènd UK Generally Accepted Practice. As a public benefit entity, Freshwater Lifeboat has applied the public benef1t entity 'PBE' prefixed paragraphs ol FRS102. The charity has elected to tske the exemption from the requirement to prepare a Cash Flow Statement due to its turnover being less than £500,000 as permitted by the Statement of Recommend Practice ISORPI -A￿oUntIng and Rewrting by Charities IFRSL021. The followlng prlnclpal accountyng Fxjllcles have been applled Incomlng Resourtts All incoming resources are included on the Statement ol Financial Actlvitles when the charity is legally entitled to the income and the amount tan be quantified with reasonable accuracy. Resourtes Expend Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all Cosrs related to the category. Where costs cannot be direLtly attributed to particular headlngs they have been allocated to activities on a basls conslstent wlth the use of resources. Donated Goodg and Servlces Oonated goods and services are Included In Incomlng resources when the beneflt to the chartty Is reasonably quantifiable and measurable. They are Included at the amount the Trustees would reasonably expect to pay for those goods and services. T•ngible Fixed Assets Depreciation is charged so as to allocate the cost of assets over thelr estlmated useful Ilves, vslng the stralght- Ilne method. Depreciallon Is provlded on the following bases., Boathouse refurblshment Lifeboat ant and machinery Flxture5 and flttlngs IOYO io% io% stock stock is included In the accounts at the lower of cost or net realisable value. Taxatlon The charity is exempt from corp)ration tax on its charitable activities. Legacles Legacies are Included within the accounts when there is sufficient evSdence to provide the necessary ￿rtaIntY that the legacy will be received and the value of the incoming resour￿5 can be measured with sufficient Fund Accounting & Reserves Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trijstees. Re5trirted funds can only be used for particular re5trirted purpose5 Wlthin the objects of the charity. RestrSctions arise when specified by the donor or when funds are ralsed for particular restrirteij purtx)ses. 16 Notes to the financial statements continued L Analysis of Overheads Chaiitab Actiwties TraJiNJ 2025 Totsl 2024 Total Maintenan Utilities 13,872 1,317 13,872 6,586 3,735 291 2,149 210 360 21,541 8.072 3,545 5,269 Insuran¢e Rates 146 1,074 157 270 146 1.074 52 Cleaniry Advertising & Marketing LT Software and consumatle 1,811 653 324 18,419 27.203 36,135 Tangible Fixed Assets Leaseho P￿athoUSe RefvriKEhrwt art and xtures and Fth"ngs Total COST At i Ortober 2024 Additions 144,354 2,439 336,947 98,244 583,425 2,439 Disposals At 30 Septernber 2025 146,793 336,947 98.244 3.879 585,864 DEPRECIATION At l October 2024 Charge for the year Disposals At 30 September 2025 144,354 1.219 77.471 33.695 87,665 4.258 3,628 loo 313,117 39,272 1.219 225.782 6,321 152 233,474 NEf BOOK VALUE At 30 SepterntEr 2025 1,219 225,782 6,321 152 233,474 At l October 2024 259,477 io, 251 270,307 The land on which the tx)athouse is situated telongs to the Isle of Wight C(xJrKiI. The t*)athouse is the propety of Freshwater Lifeboat It is shown in the accounts at the cost of refur￿5hMenL based on the assumption that the original building would have haj ￿lbgIbk net IxM)k value at the year end, having built in 1972. 17 4. Stock 2025 Z024 Shop stock 7,415 7,415 7,676 7,676 5. Debtors 2025 2024 Amounts falling due withln one year: Accounts Receivable Prepayments VAT 634 624 2.623 2,623 Donabons 3.257 3,247 6. Cash at Bankand In Hand 2025 2024 The Co-op 667.037 617,178 HSBC 4,240 85,000 Redwo¢)d Cash in hand 85,( 752,037 706,418 7. Credltors - amounts falling due wlthln a one year 2025 2024 Trade creditors Accruals Capltal Grants 133 1,718 660 793 2,378 Staff & Trustee Costs There are no staff costs in the accounts as all work is carried out by unpaid volunteers. The charity Trustee5 were not paid duhng the year. No tharity Tnjstee received any emolument or payment for profesgonal or other Servi￿5. 9. Related Party Transactions Volvnteer crewman Ronan Mccann has available to him a small section of land from whKh he runs a community commercial venture. As agreed ty the trustets in 2020. he pays the FILB charity a donauon each month based on takings. IB Notes to the financial statements continued 10. Movement in Funds Inctsrning Resouros Expended Transfers At 30 Sept 2025 lort 2024 uNRFSTFU￿ED FUNDS General Fund 685,270 125,445 (115,3261 695,389 Designated Fund 300,000 300,000 Total Unrestricted Funds 985,270 125,445 (115,326) 995,389 REsfRicfED FUNDS Restricted Funds Totsl Fund 985,270 125045 (115,326) 995,389