Company registration number.. N1054369 Charity registration nurnber.. 103488 The Lifeboat Mission (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 28 February 2025 Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungannon Co Tyrone BT717DH
The Lifeboat Mission Contents Reference and Administrative Details Trustee, Report 2to4 Independent Examiner's Report 5t06 Staternent of Financial Activities 7t08 Balance Sheet Note5 to the Financial Statements Ioto 17
The Lifeboat Mission Reference and Administrative Details Chairman Mr Bertie Johnston Secretary Mr Roy McFarland Charity Registration Number 103488 Company Registration Number N1054369 The charity is incoorated in Northern Ireland. 69 Drumaspil Road Dungannon Co.Tyrone BT716HZ Registered Office Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungannon Co TyTone BT717DH Page I
The Lifeboat Mission Trustee, Report The trnstee, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 28 February 2025. Objectives and activities Public benefil In ordeT to continue to fulfil the purpose and have Tegard to the Commission's public benefit requirement, we have continued to provide weekly church service5 for felloivship, prayer, praise and Bible teaching as well as continuing to provide services for specific community sectors folloiving government guidanc¢. Christian principles and Christiarn discipleship along with the gospel message are shared at these services. The trustee confirm that they have complied with the requirements of the CharTties Act to have due regard to the public benefit guidance published by the Charity Commission for Northern Ireland. Trustees and orricers The trnstees and officers servino during the year and since the year end were as follows: Trustee.. Mr Roy McFarland Mr Bertie Johnston Mr Adrian Kelso Chainnan: Mr Bertie Johnston Secretary.. Mr Roy McFarland Annual report We wish to sincerely thank all those who attend the services or are involved in the nlnning of the church, for their time, hard work and generous giving. The purpose of the Lifeboat Mission is for the advancement of the Christian faith and in pursuance of this objective it may Spread the gospel of Jesus Christ and the message of the Bible at horne and abroad in word and in deed Engage in religious preaching, teachtng, crusading, ministering, coun5elltng, Ivitnes5ing (domestic and forei(Fn) and soul-winning for the Lord Jesus Christ Operate in an evangelistic manner and wherever possible to assist in support for worthy benevolent humanitarian projects During the year ended February 2025, to continue to fulfil this purpose and have retrard to the Commission's public benefit requirement, we have continued to provide weekly church services for felloii'ship, prayer, praise and Bible teaching as well as continuing to provide services for specific community sectors. Our online presence has increased significantly with regular services being showi of Facebook. We had an in¢Tease in visiting preachers and singers to our services. Page 2
The Lifeb02t Mission Trustee, Report The purpose of the Lifeboat Mission continue to be met although the method of delivery has evolved depending on the particular restrictions in place. During the year Sunday services and prayer Tneetings have continued at our church premises and we have seen a growth in the fellowship. Our messages are being posted online through our Facebook paoe where they can reach a much wider audience. As the numbers attending services increases steadily our message is strong. As we enter into another year our desire is to spread the gospel of Saving grace to the wider community and to see a growth in our fellowship, seeking God's guidance at every point. During the year many activites took place including Carol Service in December 2005 as well as the regular Ladies meetings and Youth meetings. In January 2025 we received a visit from Rev and Mrs John Treese from Vircrini4 USA who spoke at our Holiness Convention. In September 2024 we enrolled our first students to Lifeboat Christian School. The school is staffed by volunteers who have a wealth of knowledge in teachino The school follows th¢ Accelerated Christian Education (A.C.E) curriculum which provides parents with a quality programme they can trust. Currently there are 4 pupils enrolled with the view that this number will increase. Our income level for the financial year ending 28th February 2025 w&s almost £li7K with expenditure of £IOOk leaving a surplus for the year of approximately £37K. As Trustees we would like to offer our sincere thaTS for the generous giving of our congregation and supporters. Bertie Johnston, Adrian Kelso and Roy McFarland served as Trustees during this year. St8tement of trustee, responsibilities The trustee (who are also the diTectors of The Lifeboat Mission for the pury)oses of company law) are responsible for preparin(y the trustee, report and the financial statements in accordance M'ith applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland Company law requires the trustee to prepare financial statements for each financial year. Under company law the trustee must not approve the financial statements unless they are satisfied that they give a true and fair vieii, of the state of affairs of the charitable company and of the incomino resources and application of resource5, includin(7 its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustee are required to.. select suitable accounting policies and apply them consistently- observe the method5 and principles tn the Charities SORP. make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards, comprisincr FRS 102 have been followed. subject to any material departures disclosed and explained in the financial statements. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charttable company will continue in business. Page 3
The Lifeboat Mission Trustee, Report The trustee are responsible for keepino ¥ PToper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustee are responsible for the maintenance and integrity of the corporate and financial infonnation included on the charitable cornpany's website. Legislation governing the preparation and dissemination of financial statements may differ from leoislation in other jurisdictions. The annual report was approved by the trustee of the charity on 24 November 2025 and Sied on its behalf by.. Mr Roy M¢Farland Company Secretary and Trustee Page 4
The Lifeboat Mission Independent Examiner's Report to the trustees of The Lifeboat Mission ('the Company,) T report to the charity trustee on my examination of the accounts of the Company for the year ended 28 February 2025. Respective responsibilities of trustees and examiner As the charity's trustee of The Lifeboat Mission (and also its directors for the purposes of company la,) you are responsible for the preparation of the accounts in accordance with the r¢quirements of the Charities Act (Northern Ireland) 2008. Having satisfied myself that the accounts of The Lifeboat Mission are not required to be audited under section 65 of Charities Act (Northern) Ireland 2008 and that an independent examination is needed. It is my responsibility to:. examine the accounts under 5e¢tion 65 of the Charities Act to follow the procedures laid down in the general Direction5 given by the Charity Commission for Northern Ireland under section 65 (9)(b) of the Charities Act to state whether particular matters have come to my attention Basis of Independent Examiners, Report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was Caled out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the Charities Act. An examination included a review of the accounting records kept by the charity and a compartson of the accounts presented with those records. It also included Consideration of any unusual items or disclosures in the accounts, and seekintr expalnations from th¢ trustees conceming any such Tnatters.. I confwm that no matters have corne to my attention in connection with the examination giving me cause to believe.. l. That accounting records were not kept in respect of The Lifeboat Mission as required by section 63 of the Charities Act. or 2. That the accounts do not accord with those records. or 3. That the accounts do not comply with the accounting requirements of the Charities Act. 4. That there is furtheT inforniation needed for a proper understanding of the accounts tobe reached. Page 5
The Lifeboat Mission Independent Examiner's Report to the trustees of The Lifeboat Mission ('the Company,) Independent Examiner's Statement I have cornpleted my examination and have no concerns in Tespect of the matter (l) to (4) listed above and in connections ivith the followin(F directions of the Charity Commission for Northem Ireland. I have found no matters that require drawing to your attention r and Associates Limited Certified Public Accountant l Moygashel Mills PaTk Dungannon Co Tyrone BT717DH 24 November 2025 Page 6
The Lifeboat Mission Statement of Financial Activities for the Year Ended 28 February 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2025 Note Income and Endowments froln: Donations and legacies Investment income Other income 133,13) 16 3,650 133,133 Total income 136,799 136,799 Expenditure on: Charitable activities Other expenditure (354) (99,459) (99,459) Total expenditure (99,813) (99,813) Net income Net movement in funds Reconciliation of funds Total funds brought forward 785,576 785,576 Total funds carried forward 17 822,562 Unrestricted funds 822,562 Total 2024 Note Income and Endowments from: Donations and legacies Inve5trnent income Other income 138,058 203 900 138.058 203 900 Total incorne 139,161 139,161 Expenditure on: Charitable activities Other expenditure (330) (89,886) (330) (89,886) Total expenditure (90,216) (90,216) Net income 48,945 48,945 Net movernent in ndS 48,945 48.945 Reconciliation of funds Total funds brought forward 7J6.631 736,631 The notes on pages l O to 17 forni an integral part of these financial statements. Page 7
The Lifeboat Mission Statement of Financial Activities for the Year Ended 28 February 2025 ncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2024 Note Total ndS caled fonvard 17 785,576 785,576 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17. The notes on pages l O to 17 fonn an integral part of these fmancial statements. Page 8
The Lifeboat Mission (Registration number: N1054369) Balance Sheet as at 28 February 2025 2025 2024 Note Fixed assets Tangible assets 13 842,489 763,725 Current assets Debtors Cash at bank and in hand 14 15 3,452 708 20,199 4,160 Creditors: Amounts falling due within one year Net current {liabilities)lassets Net assets 16 (24,087) (1,801) {19,927) 21,851 822,562 785.576 Funds of the eharity: Unrestricted ineome funds Unrestricted fimds 822,562 785,576 Totsl funds 17 822,562 785,576 For the fInancial year ending 28 February 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance ivith section 476. and The directors acknowledge their responsibilities for complying ivith the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 7 to 17 were approved by the trustee, and authori5ed for TS5ue on 24 November 2025 and signed on their behalf by.. MrRo McFarland Company Secretary and Trustee The notes on pages l O to 17 fomi an integral part of these financial statements. Page 9
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 I Charity status The charity is limited by ouarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the trustee is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. The address of its registered office is= 69 Drurnaspil Road Dungannon Co.TJTone BT716HZ These financial statements were authorised for issue by the trustee on 24 November 2025. 2 Accounting policies Summary of signifjcant aeeounting policies and key accounting estimates The Principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless othenyise stated. Statement of compliance The financial statements have been prepared in accordance ivith Accounting and Reporting by Charities.. Statement of R¢cornmended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102}), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and th¢ Companies Act 2006. Basis of preparation The Lifeboat Mission meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenyise staled in the relevant accountinD policy notes. Going concern The trustee Consider that there are no material uncertainties about the charity's ability to continue a5 a going concern nor any significant areas of uncertainty that affect the carying value of assets held by the charity. Exemption from preparing a cash flow statement The charity Opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Incom¢ and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 10
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 Donations and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Jnvestmenl income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it TS probable settlemen¢ is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that atsgregat¢ similar costs to that category. Where costs cannoi be directly attributed to particular headings they have been allocated on a basis Consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation char£yes allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirernents, including audit, strategic rnanagement and trustee meetings and reiTnbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 201 O and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordin(rly, the charity is Potentially exempt froTn tatIOn in respect of income or capital tsains received ivithin categories covered by Chapter J Part I I of the Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed &ssets c05ting £250.00 or more are initially recorded at cost. Depreciation and alnortisation Depreciation is provided on tangible fTxed assets so as to write off the cost or valuation. less any estimated residual value, over their expected useful economic life as follows.. Asset class Land and Buildings Fictures and Fittings Depreciation method and rate 1.5 % reducing balance 20 % straight line Pagell
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tern) highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amort15ed cost, with the difference between the proceeds, net of transaction costs, and the arnount due on redemption being r¢cognised as a charge to the Statement of Financial Activities over the period of the relevant bOowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlernent of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustee discretion in furtherance of the objectives of the charity. 3 Income from donations and legacies Unrestricted funds General Total funds Donations and legacies. Donations frorn individuals Regular giving and capital donations Total for 2025 3.820 129,)lJ 3,820 129,i13 13),1)) 13J,li3 Total for 2024 1)8,058 1)8,058 Page 12
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 4 Investment income Unrestricted funds Gener81 Total funds Interest receivable and similar incorne- Interest receivable on bank deposits Total for 2025 16 16 16 16 Total for 2024 203 5 Expenditure on charitable activities Unrestricted funds General Total funds Note Governance costs 354 Total for 2024 330 In addition to the expenditure analysed above, there are also governance costs of £354 (2024 - £J30) which relate directly to charitable activities. See note 7 for further details. 6 Other expenditure Unrestricted funds General Total funds Note Staff costs Wages and salaries Depreciation, amortisation and other similar costs Other resources expended Total for 2025 13,400 59,027 59,027 99,459 99,459 Tot21 for 2024 89,886 89,886 Page 13
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 7 Analysis of governance and support costs Governance costs Unrestricted fund$ General Total funds Independent examiner fees Examination of the financial statements i54 Total for 2025 i54 Total for 2024 8 Net incomingloutgoing resources Net incoming resources for the year include.. 2025 2024 Depreciation of fixed assets 27,032 17,996 9 Trustee remuneration and expenses During the year the charity made the following transactions with trustee: Mr Bertie Johnston Mr Bertie Johnston received remuneration of £13,400 (2024.. £8,310) during the year. l O Staff costs The aogregate payroll costs were as follows.. 2025 2024 Staff costs during the year were: Wages and salaries 13.400 8,310 The monthly avera(Te number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was a5 follows.. 2025 2024 Staff Page 14
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 No employee received emoluments of more than £60,000 durin(r the year. 11 Independent examiner's remuneration 2025 2024 Examination of the financial statements 354 i30 12 Taxation The charity is a reoistered charity and is therefore ex¢mpt from taxation. 13 Tangible fixed assets Land and buildings Furniture and equipment Total C05t At l March 2024 Additions 855,019 67,766 32,584 38,029 887,60) 105,79) At 28 February 2025 Depreciation At l March 2024 Charge for the year At 28 February 2025 Net book value 922,785 70,613 99J,J98 111,374 18,456 12,504 8,575 123,878 27,031 129,830 21,079 150,909 At 28 February 2025 792.955 49,5)4 842,489 At 29 February 2024 743,645 20,080 76J,725 14 Debtors 2025 2024 Other debtors 3,452 3,453 15 Cash and cash equivalents Page 15
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 2025 2024 Cash at bank 708 ?0,199 Bank overdrafts (887) Cash and cash ¢quivalents in statement of cash flows (179) 20,199 16 Creditors: amounts falling due within one year 2025 2024 Bank overdrafts Other creditors 887 1,801 24,087 1,801 17 Funds Balance at I M8reh 2024 Incorning resources Resources expended Balance at 28 February 2025 Unrestricted funds General 785,576 l J6,799 (99,813) 822,562 Balance at I March 2023 Incoming resources Resources expended Balance at 29 February 2024 Unrestricted funds GeneTal 7)6,631 lJ9,161 (90,216) 785,576 18 Analysis of net assets betiveen funds Unrestricted funds General Total funds at 28 February 2025 Tangible fixed assets Current assets Cuent liabilities 842,489 4,160 (24,087) 842,489 4,160 (24,087) 822,562 Total net assets 822,562 Page 16
The Lifeboat Mission Notes to the Financial Statements for the Year Ended 28 February 2025 Unrestricted funds Gener21 Total funds at 29 February 2024 Tangible fixed assets cuent assets Current liabilities 763,725 23.652 (1,801) 763,725 (1,801) Total net assets 785,576 785,576 19 Analysis of net funds At28 February 2025 At l March 2024 Financing cash nows Cash at bank and in hand 20,199 (20,378) (179) Net debt 20,199 (20,378) (179) At29 February 2024 At l March 2023 Financing Cash flows Cash at bank and in hand 43,800 (23,601) 20,199 Net debt {2J,601) 20,199 Page 17