Charity number.. NIC106685 Company nurnber: N164053S (Northern Ireland) FOYLE SEARCH AND RESCUE (A compan}, limited by guarantee) Executive Committees, report and f￿ancial statements for the year ended 31 March 2024 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Contents Pa2e Legal and administrative infom￿tIOn Executive Committee%, report 3-17 IndLpendenl cxaininers, report 18 Siaieinent of financial actlvllies 19 BalanLe 4hect 20-21 Nole.s to the financial statements 22-29 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Legal and administrative information Charity number NIC106685 Company rc£istration number N164U535 Buslness address 20 Victoria Road Water%ide Dcrry BT47 2AB Registered office 20 Vi¢loria Road Dery BI"47 2AB I'rustee$ Icompany Directors Siephcn TwL.II% Sandra O Doherly Krisliiia M¢Daid Corniac C)'Hare Briaii Mulll' pLoplL in the history of the charity trained up lo provide this service throughout all di%ciplines. We have delivered exiemal Iraiiiing courses lll partnership with City Ceiitre liiilialive lo local businesses and organi.%ations ￿￿Thin the city, Ihis has allowed us lo generate a small income for the charity. -fhere were al.%0 opportunities for mental health first aid traiiiing which in Ihe coming year I hope to expand and roll out io more volunleepi. Tliis last year saw the standardisalion of new medical kil bagys, containing essential, life-5aving equipment for both shore and boat lo ensure easy access in lime critical silualions. We continually review our Supplies lo ensure that we can continue lo deliver effe¢iive pr¢- h05pithI care. A4 part of our '5how and tell, experiences delivered lo PSNI, Univer%ily of Ulster student paramedics and nurses they observed how we operate: were cncouragyed to ask que.stions and Inade aware of the chaniies first aid capabilities. Quali(y limL' 1% invested to build on our strong working relationships with the ambulanLe service bo we ran work effeciively together. In closiiig, I would like to ihank everyone who has helped An any way lo suppvrt rne in rny role. I would encourage everyone to keep up the good work, which will build more confidence in your abilities, as well a.s Teflecting positively on our charity as a whole. Page 11 FOYLE SEARCH AND RESCUE (A company limited bv guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 VOL UNTEER MANA GER UPDA TE( Damin Gp"jcJvc) Firstly, I would like 10 thank you all for warnily welcoming me back to the charity. This ha% made my transition from prevtously being a volunteer to iiow being Staff. very easy. In my fir.$19 months (to the end of the finanLial year) I have overseen duty nigl)l attendance, managed lime out. a%%i.%tingy volunteers to make decisions which suits their needs in thai momeni, monilored training commiunent dnd il.%.%1Stcd coordinators as and ￿,hen required. l also intToduLcd my first survey which allowed me lo giet feel i>f th¢ Ihouglits and feelings of our volunteers and began putting plan.4 in place, where praLtiLal. lo react 10 4Ub'bJe4tion% expressed. In my rolc a% Volunteer Mana&Ter I Iiave been reviewing all policic4 and procedures and niakitlg aineiidJi)enis where needed. all of wliich have been coinmunicaled. Thi% 1% ID prcparalion tor Dur Inve4liiig in Volunteer% C'ertifiLalion renewal through Volunl¢er Now whiLh will lake place iii the new fiiiancial year. Renewiiig thi.s certifiualion allow% u% lo en%ure that, as a charity, we are doing everything according lo the guidelines lo provide the best volunteer experience we pos.%ibly can. I have recently compleied the pruccs5 of rcnewinby volunteer uniforn]s which should be rolled oui laic Summer. Thi4 by no means hn 'The preservation of life ii) and around ihe River Foyle., Together with Ihe coinmitiee, l atn currently workingy ()n remouldiiig the entire recruilmenl and 8ele¢tion proces4. We anliLipatL' that we will be iii a posiiion io open recruilmenl iii July ivitli ai) ililake of new volun(eLr.% by the cnd ()f- Aug?ust. INCIDENT OVER VIEW In 2023124 financial period, Foyle Searcl) and Resuue attended 226 incidents, 131 of which were attended by our Duty Nighi Teams and 95 of which were Emergency Response Pager Team in¢xdenls. 24 individuals were rescued directly from the water alive, 81 distressed individual% were removed safely from the railing% and bridge% surrounding the river, we hdd 115 cause5 for concern and we sadly recovered 4 bodies in Ihis financial reporting period. Emergency re.%pon5e team a150 deali with 2 miscellaneou% incidents. special thank you musl go lo all our operational voluiiteers on duly nights and pager for your dedication and persistence in the number of live.4 you liave saved. These stali%lic.s 4r¢ the s)?ain tool that we have in gaug?ing how succcssful our service is and how many people we help. Alihough we helped 226 people directly in our life preservation cri.%is re4ponse capacity, the aulual nuTnbcr of people we helped throughout the year is much greater than that. It is there lo bc 5ceii by all. especially Ihosc who %erve dlongside you. Page 12 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 Financial review Gené'ral (Corniac O'Hare) The 2023-24 Financial year plans, were lo niake th¢ largest ever annual investment in Ihe Charily. This would be arrobs all aspects of the charity. Investment in ￿1) time staff. in new volunteer recruits, in PPE for our Boat, Sonar, Swift Water and Drone team4, in our qupport vehicles, in our watercraft 8nd investment in our base infrastructure. We also planned to support a number of evenLs to celebrdte the 30-year anniversary of the charity. Inconie from April 2023 to March 2024 exceeded last year and the1&st full year before tlie COVID Pandemic Public support through personal and coinpany donalioiis, collection boxes, suppon of our Bucket Appeal. Flag Day, Sponsored Walk, Zipline and Danny Quigley's rnarathon swim ol Ihe complete lengih of Ihe river Foyle, remained our greatest source ot income. Funding was received from 'fiie Rank Foundation, Dery & Strabane District Council, the Public Health Agency. Deparlmenl of .lu%ticc, Dcveloping Healthy Communities, SBS South Bank Square, and CAF which helps us continue to support our staff and volunteer developmenl as well a% some ol, larger capital invc,4lmenl ExpL'ndiiurL (h"inunL'icil RL'ViCiiV Ccinrtntlc'd) Our ii)ilial spending budget was jusi over £600k(including capi￿1 expenditure), will) actual spend in the period 30/y above budget, The majoriiy of Il)e investnienLs. were a% planned. with the major additional LxpendilurLs beingi on accidental damages lo our waiercr1< fi and the replac¢inenl of two additional engines on one of our tast response boals. Fuel and In4uranLe Lo%l werL al%0 higher than expected. -I'he%e highLr inve%lmenls were balanced by delaying Iraiiiing of addilioiial recruits, as volui)ieer levels were asse%sed a uffiLicnl at the lime and delaying the planned exlension of our base infrastructure, whicli is now planned for finaiicial year 2024-25, Credit 8gTain must be &yiven lo all those involved in the charity, to relentlessly cliallenge all expei)diture4 for justification and assurance thal they are aligned with driving7 the charity fonvard. Page 13 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Report of the trustees (incorporating tbe directors, report) for the year ended 31 March 2024 Rei.'iew of.fup7dp-nising nAd Edticalion (Clirisiina Mc Kee2an) What a year we had! It was a year of our 30 year celebrations and what an action pack¢d year it was. We would like to begin by Saying a massive thth you io all the local businesses who chooè4e us a.% their Charity Partner of the Year 2023. These partnerships noi only bring in amazing funds through all their hard work and dedication but the awareness around our %erviLe% and other local services that are available. The bigge81 shoul oul goes lo all our volunteers for their dedication lo our annual and monthly internal events. Like LIoLkwork, the Box Run Volunleer.s were oul each monih in rain. hail, snow and will) very little sui)shthe, lo colleci around all the local shops. Thcir dedicalion lo Ihe monthly box run is rcflecled in Ihe amount that was brought in to (he charity, £33k. OUT annual buLkei appeal broughi in £1 Ik. Boih our winier and summer flag day were carried oui within the city cenire and we would like to say a big thank you lo all the voluntecr% 8nd .4laff who canic out in force to help which rai%¢d £6,500. 1'h¢se events are well supported by the ainazing people of our city, aiid each and every penny goes toward Ir&iining, equipment and PPE for our volunte¢r,%. We could not go without %ayii)g a massive Ihaiik you lo the leain of volunteer.s who conic iii each Iiionth to help count all the coilis collecied lI￿oUg1) Il)e n)onilily box ruiis, flag days and bucket appeals. Your dedication to thi% role works hand in hand wilh the colleciion leani and is key 10 tlie chariiy coniinuing to cary out these inlemal tundraiser%. As Iliis was our 30111 Year we held a nuniber of addilioiial eveiil4 to celebrate the occasioii, kickiiig off the year with ¢1 pon%ored walk, which saw ()veT 100 pcople lake lo the pavumenis and was sucli a success we have d¢cid¢d lo make this an aiinual event. Tl)e big cvent for thc year wag our Gala Ball where voluntecr.s. family members, and supporter% of (he charily gol glammed up, and had big belly laughs froin the Comedy le&>end Tim McGary who ho%ted (he evening and al%1) gFave a ¥on)¢dy perforn]anLe. Everyone Il)eii di211ced Il)e nighi away lo Ilie asiounding Lee Roy Bro1￿ Baiid. We liad gTreat gig&,Ic% in niakinb7 the promoli()nal video for IhL biggest raffle we have ever lield in wliicb tlie prizes were holiday vouclier4 and winner4 were aDn()LLllL¢d livc at Ihc (iala Bpes of waierway*. We al.%0 Ca￿Lcd oul partncr%hip work with PSNI, where new police recruits who joined the force trom 2020 have been visiting our base every 2nd week, in groups ot 12120 to tour tlie base, see the equipment we have, meet the leani Ineiiibers and have a boai tour of Ilie bridge & quay for 'you see wliai we see" giving the o￿lcerS a betler under.slandin&' on what our teai)Is qee and liear ￿'hen on the boai. wlii¢h will help with future incidents.. A total of approx. 250+ ofrfi¥er availed ot. Ihi,s opporrunily, whicli was also offered 10 NIAS. We would like to Ineniioii as niaiiy local businesses who have supporled us in the la.st year, il ]% truly ama7.inbF the many businesses within our city and some ￿rther afield thai suppori our charity. Thank you lo Hugh Keirney from Cooley Jewellers who dawned the Sania Suit again this year and donated £1,000. The continued supporl that our charity receives each year from the same bu%ine.4s and people 1% immen4e. Wc are alway4 proud lo be ¥hosen as a charity parther as the hard work and awareness that i.s rai4ed through this is always outstanding,, well donc lo evLry()ne involvLd. Thank you lo Hard a% Oak, Fairytale Weddiiig, Cars, Ryan Dillon, The O'Dorniell Fdmily, Foyle Food Group, The Iniier c.ity Trust. and BSG Civil Eiikpiiieering wlio coniinue 10, eaLh yLar, raisL fund% for our charily and rai.4e g)reat awareness around nienlal health and the services within our city. We are always ovenvhelmed with the continued support and extremely graieful, and we look forward lo continuin&y lo build on our future relationship4. Fundraising for 2023 was a greai sub¢esb, bul l Louldn'l fini.4h this report without highlighting and congratulating the maLhine thai is Danny Quigley. What a week thi% wa% The Celebration of Life" Danny swam I I OKM froni Lifford 10 Kil￿eBO Bay to rai%iiig viial and valuable awarene44 and helping shaiier the sligma of suicide. Each kilometre was in memury ol. a loved i)ne. He celcbrated all Ihose wonderful people who lost iheir live% to %uicide. He remenibered them for who Ihey were, 8 person nol a %lalisti¢. He renieinbered their mu.4lL. Ihcir hobbies, favourile food.%, tlieir fatnilies. and he Lelebrdled their lives. I'o end (he event the ILg?cnd% ()f' the city caine oul for a final celebratii)n in which we held a ￿ndaY willi Ihe 8UPPOrt of lo¢al mu.%iLian%, vend()r.s, conimunity groups for wliich we are truly liumbled and thai)ktul. Tliis is only Ihe beginning of of a wonderful partnership wilh Phase 11 of the event cominby in 2024 liiled the 'Lighthouse Projecl,. Therefore. we would ITke lo say a final big 'ihai]k you, lo everyone H,ho gol involved in rai.sing funds, rai4ing awareiiess and %upporting Foyle Search aiid Rescue, and a final 'thank you, to all our volunteers, 51aff and their family and friends. Without you all: our charity would not be able Io Larry out the life saving work Ihal we do. CiivinbF up your lime allows us lo meet our aim% and objectives of 'The Preservation of Life in and around the Rover Foyle,. Thank You Page 15 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 AcLwc)ii,ledgen7ep71.¥ 2024 VolunieLrs & Staty General Public - North & South of the Border/ Thc Mayor & Staff Public Flealib Agency Derry Ciiy & Str8bane Di5triLI Council l Departrnenl of Juslice Gilliland Familyl Emcrgyency Services NISAR Rescue Orgaiiisaiioiis/ City Centre Initiative Inner Cily I rusi Western Healih and Social Care Four Star PizLL Domino% IPaolo4 Pizza Bog%ide & Brdndywcll Health ForunV Diamond Corrugated I'hc Rank Foundation Print Chameleonl CCTV CAF UK SAR Fund SBS South Bank Square/ RYA Gosafe Slorni-Tec Marinel Jel Producis Plans for future periods 202412025 outlook The antiLipaled trend for 2024-25 will be an increase in OPL'ratingy cost4 and ¢1 decrease in the availability of Statutory Agency fundin8. In 2023-24 we .5Uccess￿lIY recruited a Voluiileer Maiiager as the Charity grows in complexiiy. Ln 2024-25, we plan to further enhance our Siaff, by recruiting a lundraisiI)g Coordinaior and lo reinvigorate the Lharily by induclingi and trainii)g new volunieer recruils. We plan lo find Capiial suppon lo design and build a walcrcraft ve%sel, capable of %upporting fasl response and our Sonar Team, after the reiiremeni of Iwo of our boa15 which proved lo be unecononiic lo remain operdlional. We plan l() uomplelL Lyruund work% al the b&%c, to provide a multi-purpose extension, provide additional vehicle and equipmeiii storage and provide swifter access 10 our ponloon. Page 16 FOYLE SEARCH IlND RESCUE (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2024 Statement of trustees, responsibilities The trustees (￿,]]0 are also directors of FOYLE SEARCH AND RESCUE for th¢ purpose of company law) ar¢ re%pon%ible for preparing the Trustecs, Annual Report and the financial siaienieni.s in acLordance wilh applicabl¢ law and Tegulation. Coinpany law require5 the InE%lees to prepare tinancial 4lalements for each f5nancial year which give a true and fair view of the slate of affairs of the cliariiable conJpai)y atid of the incomiiig resources and applicaiion of resources. includii)g? tli¢ incoine and expendilure, of the Gharilable company for dial period. In preparing the.se finanLial siaiemunts, Ihe Iruslee aTe requiTed to.. seleLi suiiable accounting policies and (hen apply them ¢onsist¢nily' observe the method% and principle4 in the Charitie% SORP Preparing their accoun15 in accordance wilh the Financial Reporting Standard appli¢abl¢ in the UK and Republic of Ireland (FRS102)' make judgements and estiinaies Il)al are reasoiiable and prudent; late wlicthcr applicable UK AcLountingJ Standard% h¢lVL. been followed.comprising FRS102 subject io any material departures disclosed and explained in the financial statements; and prepare the financial statements on Ihe going concern basis uiiless it is inappropriate 10 presuine thai the Charilable company will coniiiiue in operation. Thc IN%tee.s are responsiblc tor kecping, pri)pcr accouiitingy record4 which di%clo.4c with rea.4onable accuracy al any liine thL fin¢in¢ial p()4ilion ol. Ihc LharilablL Lompany and whiih enable IhLm to en%ure that IhL lindnLial %ldlLmLnis Lomply with the Compaiiies Act 2006. Tliey are al%0 rc4pon4ible for safebFuardingF the a.44et4 of the Lhiirilable c()nip¢iny and hLncL for taking reasonable steps for Ihe prevention and deleclion of fraud and other irregularities. Small eompAny provlsions Thi.% report lia% been preparcd in acLordance with the special pr()vi%ion% for .small companie.% under Pall 15 of the Coinpaiiies Act 2006. On behalf. of the b()ard Stephen l-wLII. Director Corniac O'FEare Treasurer 23 October 2024 Page 17 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Independent examiner's report to the trustees on the unaudited financial statements of FOYLE SEARCH AND RESCUE. I report on the accounts of FOYLE SEARCH AND RESCUE for the year ended 31 March 2024 set out on pages 3 to 29. Respective responsibilities of trustees and independent examiner The charity's lrnsiee% (who ¢ire a150 ihe directors of Ihe company for purposes of compHny law) are responsible for Ihe preparation of the accounts in accordance with the requiremenl.% of the Coinpanies Act 2006. Having %ati%fied myself that the Charity is not subject to audit under company law and is eligible for independent examination, It is my responsibility 10 -examine the accoun1% under 65 of the Charilies Act -fvllc)w the proccdures laid dowi in the bFenLral directions bliven by the Chariiy Commis%ion for Nonhern Ireland under section 65(9)(b) of the charities act -slate wheilier particular matters liave come to my attention. Basis of independent ¢xan)in¢r's statement My examinalion include4 a rcvicw of the accounting re¢ord.% kcpi by the Lharity and a comp4ri.%on of the ac¢ouni. pre4ented willi those records. It also include% con%ideralion of any unusual items or disclosure% in the accounts, aiid seeking explanations from you as Iruslees con¢eniinE any such Inaiiers. The procedures Iindertakeii do not provide 411 tlie evidence that would be required in an audil, and con4equenily I do noi expre%% an liudil opinion on the view given by the accounts. Indcpcndcnt examiner's statement In connection with rny exaininalion, no matier has come lo my attention: {1) which gives me reasoiiable cause lo believe thal in any material respect the requiremenls.. to keep proper accounlingi records in accordanLe with section 386 ol. IhL Companies Act 2006; and to prepare aLLounl.4 H,hich accord wilh the accounting records, Lomply with the accounting requirements of 5e¢iioii 396 of. the Conipaiiies Act 2006 and with the methods and prinLiples of the Siaiemeni of Recoiimieiided Practice.. A¢¢oui)iing and Reportiiig by Charities hav¢ noi bL¢n mct. or {ii) lo which, in my opinion, allention should be drdwn in order to enable a proper under%landinby of the accounls to be reached. Paul Green of Paul Green Accountancy and Taxation Limited Chartered Accountant {Chartered Accountani% Ireland)) Independent examiner PO Box 167, Unil IB Ground Floor, The Glassworks, Skeoge Bu8ine8s Park, I l Beraghmore Road Dery BT48 8SE 23 October 2024 Page 18 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 March 2024 Unrestrieted Restricted funds funds 2024 Total 2023 Total Notes Incoming resources Incoming resources from generating fiknds: Chariiabl¢ aelivili¢s Othcr tradin&7 a¢iivitie Inveslrnenl income 60,551 242,586 14,979 IOJ,556 7.000 162,107 249,.586 14,979 177,582 229,532 3,416 I'otal incoming resources 318,116 108,556 426,672 410,530 Reyource¥ expended L.xpendilure on Charitable activilies Other Expenditure 341,511 2,051 101,994 3,505 2,051 353.612 435 Total resources expendcd 343,562 101.994 445,556 354,047 Net ineoming/(outgoing) resources bcfore transfers (25,446) 6,562 (18,884) 56,483 Transfer between tunds (19.365) 19,365 Net movement in fundslNet IDcomel(expenditure) for the year (44,811) 25,927 (18,884) 56,483 Opening Balance brought fonvard 872.441 933,370 1.805,811 ,749.328 Total funds carrled forward 827,630 959.297 1,786.927 1,805.811 Tl)e Statement of financial activities includes all gains and losses in the year and therefore a separate statem¢i)l of lolal recogiused gains and losses has not been prepared. All of the above amounts relate 10 continuing activities. The notes on pages 22 to 29 form an integral part of these financial statements. Page 19 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Balance sheet as at 31 March 2024 2024 2023 Notes Fixed 4S$¢ts Tangiible asseis Current assets Debiors Cash ai bank and in hand 1,035,225 927,230 12 25,540 1,014,301 20.78S 1,123,604 1,039,841 1,144,392 Creditor5: amounts falling due within one yeAr 13 (17,674) (14,895) Net eurrent assets 1,022,167 ,129,497 Total 85$ets less current Ilabilities 2,057,392 2,056,727 Creditors: amounts falllng due after more than one ycar 14 (19,620) (25.312) Accruals and deferred income Is (250,845) (225,fi04} Net assets 1,786,927 1,805,811 Funds RLsIriLt¢d income funds Unrestricted income funds 959,297 827.630 933,370 872,441 'I'otal funds 1.786,927 1.805,811 The Balance Sheet contiiiues on the following page. The notes on pages 22 to 29 form integral parl of these finaneixl statements. Page 20 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Balance sheet (continued) Trustees statements required by the Companies Act 2006 for the year ended 31 March 2024 In approving these fllkincial staiements as Irusiees of the company we heieby confmn.. (a) that for the year slated above the company wa.8 enliiled to the exemption conferred by 4ection 477 of the Companies Acl 2006 , (b} that no i)otice has beeii deposired ai the registered oificL of the company pursuant lo 4ection 476 of the Companie Aci ?006 requesting tliai an audil be conducted for the year ended 31 MarLh ?024. (c) that we acknowledgye OUT re%pon%ibililie% tor.. ( l ) ensuring that the Company keeps proper a¥couniingF records which comply with sectioii 386 of the Companies Act 2006, and (2) preparing financial statements which Lyive a t￿e and fair view of the state of affairs of the company as at the end of the finanLial year and of its profil or lo.4.5 for the year then ended in ac¢ordan¢e with the r¢quir¢menis of se¢lion% 394 and 395, and whiLh oihLrwise comply with Ihe provisions of the Companies A¢1 relating to financial %tatemenl%, 40 far as appliLable io ihe Lompany, The4e tinancial staternenl% are prepared in a¢¢ordai)ce with Ilie provisions applicable 10 companies %ubjeci iu the .small companie.4 regyimc. I'he financial statement% were approved by the board on 23 October 2024 and signed on its behalf by cIo'vkerL Stephen Twclls Director Corma¢ O'Hare Treasurer The iiotes on pages 22 to 29 form an integral part of these finantlal statements. Page 21 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Accounting policies The principal accouiilitig poli¢i¢s are summarised below. The accounting policies have been applied consistently thTouLhoul the year and the preceding year. Basis of accounting The tinaiicial statements are prepared in a¢cordance with the Accounting and Reportingp by Charities.. Saiemenl of Recommended Praili¢e applicable 10 charilies preparing their account% in a¢¢ordancc witli the Financial Reporring Siandard applicable in the UK and Republic of ireland (FRS102 effe¢iive l Jaiiuary 2015) Chariiies SORP (FRS102) aiid Ilie CompaniesAcl 2006. Foyle Serach and Re.scue meel.s Ihe definition of a public benefil eniity under FRS102 Assets and liabilites are initially recogniNed al hisiorical co%i and transaetic)n value unless othenvise stated in the r¢levant accounting poIiLy note(4).Th¢ Financial Siat¢nicnis are prepared on a going concern basis.Taking a¢counl of tlie ri%k review undertaken by the Iruslees they do not consider there lo be any risk io th¢ goin¥ conL¢rn of the Lharily. 1.2. Ca$hflow The Lhdrily ha.s iaken advai)iage of the exeinption in FRS102 from the requirement to produce a c&4htlow tatemcnt beLau%e il a 4mall coinpai)y. 1.3. Incoming resources All incoiiiiiig r¢source% iirc inLluded In Ilie %liilemeni of finai)¢ial acliviiies wl)en Ihe charity 1% enliiled tc) the ii)come ai)d Il)e amount can bL quanEifi¢d with rLawnablc accuracy. The following specific policie4 are applied to pariicular Lai¢'bF()riL'S ()f inc()me- Voluntary iiicome 1% receiv¢d by way ot g7rants. doi)aiions and gifts and is inLluded in full iii the siaieinenl or financial aLliviliL.% when rcceivable. Grants relaiing lo revenuc %hall be recognised in incoine on a syslcmatic basi5 over the p¢ri()d% in which tlie eniily recognise% the related ¢05ts for whiLh Ihc ¥rani 14 intended to coJnpen5aie Donal¢d serviLLs and facilities are included at Ihe value to the cl)arily where thi% can be quantitied. The value of services provided by volunteers has noi been inLluded. Gifts donated for resale are included as incoming resources wiihin activitie5 tor generaitng funds when they are Granis relating to asset% shall be recognised in income on a Syslemalic ba%is over the expected useful life of the asset. Income from investments is included in thc year in which il is receivable. Page 22 FOYLE SEARCH AND RESCUE (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 1.4. Resources expended Expenditure is recognised on att accrual basis as a liabilily Is Iiicurred. Expenditure includes any VAT which cannot be fully recovered, and is r¢ported as part of the expenditure to which it relates. Costs of generaling funds comprise thc co%Ls as8orial¢d with altracling voluntary income. Charitable expenditure compri%e% those Lost% inLurred by (he charity in (he delivery of its aciivities and service5 for its benefiLiarie.s. It include% boih cost% that can be allocated directly to such activilies and those cosis of an indirect nature nece%sary to support them. Support cost% are those cost% incurred direcily in suppon of expenditure on the objects of the charity and include projeci manageinenl. 1.5. Tangible fixed assets and depreciation Tangible fixed assets are siaied ai coql less ac¢uinulaied depreciation. Depreciation is Provided at rdtes calculaied to wri1¢ off the Cost less residual value of each asset over ils expected usetul life. as follows.. Property Renovations Plant and machinery Boats and equipment M()ior vehicles Straighi line ovcr fifty years 15 % Redu¢in&T Balance 15 /0 Reducing Balance 150/0 Reducing Balatice 1.6. Dellned contribution pension schemes I'IIL. pLnsioIi Losis cliarged in Ilie tinai)cial 51ateinen15 repre4ent the contribution payable by the ch