Charlty reglstratlon number SC046312 IS¢otlandl
ST ABBS LIFEBOAT (SCIO)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

ST ABBS LIFEBOAT {SCIO>
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Other officers:
Working committ40'.
Charlty number {Scollandl
SC046312
Prfn¢ipal address
Ebba Centre
Brieryl8W
St. Abbs
BeThwckshire
TD14 SPH
Independent èxamln•r

ST ABBS LIFEBOAT {SCIO)
CONTENTS
Page
Trustees. report
Independent examinees report
Stalemont ol finan¢ial activities
Balance S￿¥t
10
Notes to the financial statements

ST ABBS LIFEBOAT (SCIO)
TRUSTEES, REPORT
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
The TNslees present Iheir report and financial ststements fw the period endgd 30 Sgptomber 2024.
The financial statements have been prepared in accordance wlh the accounts'ro policte5 sel out in note 1 to the
financial statements and wmply with Ihe Charity's goveming docurnenl, the Charities and Trustee Investmenl
(Scotlandl Act 2Th)5, the Charities Accounts (Scotlandl Regulations 2006 las amendedl and 'Accounling and
Reporting by Charities.. Slaternent of Recommended Pradice applicable to charities preparing their accounts in
accordance wlih the Financial Reporting Standard appl￿ble in the UK and Republic of Ireland IFRS 102}.
{effeCti￿ 1 January 20191.
Sl Abbs Ind$p6ndent Lrfeboat ISAILI was first registe¥ed as a Scotti$h Charitablè Incorporatéd Organi$ati
ISCIO) in February 2016. lollowing the dosure of the RNLI lifeboat Stslion in 2015. whi¢h had existed since 1911.
The aim of the new charity is the saving of lives on the Be￿ickShire coast, Ihrou9h both provision of an
independent lifeboat. and also through education.
obj8￿¥•$ and acuvlties
Objeets and aims
To provide a lrfeboat oper81ing out of St Abbs and to educate, promote and encourage the Publ￿ in use of the
sea and coastline.
Publi¢ ￿n*fil
Saving lives and education and en￿￿ragement in use ollhe s*8.
The Twstee$ confirm that they have complied with the requirements of Ihg Charities and Trustees Investmerkl
{Scotlandl A¢t 2005 to have due iegard to the public benefit guidance pvblished by the Office of the Swttish
Charity Regulator {OSCRI.
Use of volunteers
The Trustees have formed a ￿mMittee of volunteers. a management team. to help wilh training, medica
suppliès and training. accounts and record keeping, fundraisin9 and general management.
A¢hi¢v¢monts and perfom)ance
This year our accounting year end was extended Irom 2 August lo 30 Seplember. This allows Stock tskSng and
accounts preparation to take place at a less busy tsmè. as il previ12usly dashed with the Gala and very busy
periods In the shop. As a ￿suIt, the data in this report covers 8 14 month peiiod and is therefore not directly
mparable with previous years.
Operational manag•m•nt - there have been no changes to operational man8gemenl personnel during the
period. This caiendw y$ar th* Lrfeboat has been called to attend 6 shouts to date.

ST ABBS LIFEBOAT {SCIO)
TRUSTEES, REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
The Llltrboat ¥nd equlpment - inveslmenl in the bo* Continues to ensure it remains in pristine condrtion as
follows..
Equipment purcha$edlsetviced induded:.
12 Survivor lrfejackets to be carried on the t*)at 8$ requlred by the Rescjje Boat Code..
Fire extinguishers on the boat replaced;
Spark plugs arKI Iheimostats d)anged on bolh engin8s',
New aerial fitted forMS".
New swtch for sear¢l)11ghl".
Flare pa¢k$ replaced 8nd old flares regally disposed ofr.
Day and night personal mini flares pu¥chased:
New bilge pump and hand torches purchased.,
New crew lrfeia¢kets purchased and existing ones ServI￿d.,
New waterproof gloves and socks for crew purchased:
All first aid equipment kèpt up lo dalel$l8ndard and replacÉd where necessary..
MST setYi¢ing of $elf-rlghling System undertaken,.
Depth ieadout system repaired..
Man over board dummy wrchased for more realistsc training.,
A paediatric mannequin purchased lor first aid training., and
New surts are being Snvest¢galed with v¢sits from various company represent8lfves.
Inspections und8rtak$n in¢lude:_
Mid term MCA inspection of the boat ssjccessfully completed in April,.
Annual Declared Faality Insp*ditsn ¢arrigd out in AtNil
a Dedared Facility document was produwl
which includes the background to a training plan, management plan and all operational 8nd
organisalional ¢J¢lall$. Tho document al80 indudes a Sta(K*n maintenance plan which will ensurè a
regulatory actions are now kn¢)wn about and scheduled roulinety each yeaT going forwaid.. and
AJI maintènar* and papework ha5 been brought up lo date and recorded on D4H.
Th¢ Lif¢b¢at $tation- investment in the premises has been undertaken lo maintain the building in a good state
of repair. Roof surveys have been undertaken. but the works arè still due to be compleied. Funds for this work
will Come from the Harbour Trust. Plans have been drawn up and con$ulted upon to refufbish the changing area
and Iraining room. These works arè likely to take pla¢¢ in 2025. All rtsgulalory rna1ntenan￿ has been undertaken
in the Station as required induding:_
Electrical inspg¢tion of shed crynpleled and ceTtified- fflain fuse board and breakers in office replaced.,
Winch and lrfbng equipment had its annual inspection ensLtring LOLER ¢omplh8n¢e.'
Flre Plan VFxlated and all fire equipment 6eNiced.'
Annual petrol 3ltsfage notifica*'on sent to Courril to ensure compliance;
PAT testing of appliances undertaken". and
Risk assessm8nt updalad.

ST ABBS LIFEBOAT (SCIO)
TRUSTEES, REPORT {CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Lifeboat crew and tr41nlng - operatk)nalty the bogt ¢few list now stands at a core of 20 individLtals, including 4
coxswains with one new rAew mernber recruited during the pèriod. Thorè arè 12 shorè cr￿. In order to comply
with the Rescue Boat Code. a Training Officer was 8PP04"nted. Work Is ongoing to pr(KlU￿ a trainlng plan and
competency structure. SOPS and EOPS have been reviewed and written as part of Ihtr preparation for the
Dedared Faulity inspection, but there is further work lo do on this. Use of the D4H system is being further
developed to record training and attendance of all crew members. All Crew have undertaken medicals lo ML5 or
ENG1 standard and this is a minimL*m requirement for crew to bs able to go out on the boat. Crew training
courses have been completed as fdlows:_
RYA2 Pry•verboat ry)urses have complottrd by S crew."
Advanced Powerboat courses have been completed by 2 crew.,
All Crew have completed theirfirst aid qualthations.. and
A training Scenario Day was hèld in April.
Awards - 22 crew received Kings Coronation Medals in Avgusl 2024. The rnedals were awarded to 'frontline
emergency services personnel thal have been in paid Service. retained or in 8 voluntary capacity. dealing with
emergeneies as part ol their conditions of service, and have completed five full calendar years of service by the 6
May 2023. This means volunteers who undertake an operational role as part ol the operational crew. fund
raisers, trustees, honorary secretaries and non-operational volunteers are not eligible io receive the rnedal..
Clinical governance- current clinieal govÈm8nce eontinues to be undertaken by fv40 consultants, both ol whom
are experts in Irauma and emergency medicin&. They have liaised closely with the uew, and continue to advise
on updated medical Pro￿dUreS, and ry)nduct rned￿al exèrcises at the station. They are pleased that thg 5k"Ell$
base is increasing as crew attend further training and irnprove their famili8ri5ation with kil.
Goveman¢•- the per￿￿ has seen a lot of work done on our overall standards of governance as follows'.-
The ¢on51i¢utb?n has bo¢n rènew8d, swned by all Trustees and lodged with OSCR..
Job descriptions and reo¥uilmenl pa¢ks havo been produced for all key roles and for uew,.
Key policy documents have been produced including Trustee Tems of Reference. Relationship with
Tfadlng Company, Recruitment of Trustees and Volunteers, Financial Controls
Potiaes and
Piocedures. Health & Safety, Risk Assessrnenl, Conflid of Interest Policy and Register. Code of
cor￿u¢t, Safeguarding, Data PTOtection. These docLtments ensure that we are striving as a Charity to
te wmpliant with OSCR regulations and guidanTr. These documents will be reviewed annually and
kept up lo dalts by Tnjstees,.
Following the resignation of a Trustee sn June, a skills audit of the Board was undertaken and three new
Trustees were recruited in July to cover the following sperAalisms.' Mediral, HRtrraining, Health &
Safetyfftisk Assessment.
Financlal martagèm•nt of thè eharlty - during the period the Trustees have looked carefully at the financi
management of the SCIO'S bank deposits and dauded to us* the Charity Aid Foundation's banking platfom tL>
move funds lo improve ffinanelal security. The objedive of doing this is to ensure all our funds are securely
covered by the FSCS Scheme 1£85K per banking group}. 11 wtll also ensure we achieve better rates of interest.
The management of the platform is overseen a sub group of three Trustees who makè minuled deosions on the
mvement of funds.
Events - the Lrfeboat supported the followng events with a uew presence I lrfeboat cover: Coldingham Gala.
Berwickshlre Marine Reserve's 40th Birthday, Eyemoulh Herring Queen procession, Coldingham Brave Bayeis
1.5km swim. Coldfest, Eyemtsuth High School Showcase, St Abbs Saence Festival, Youth Philanthropy IniknatNe
and Showca3e eveAls al Eyemouth High School.
Fundralslng and Gala - The collection pots and 5p jars ¢ontinue to suttessfuI￿ raise èssential funds from a
wide range of outlets. Gala 2024 was the most successful yel in lerms of lundraising.

ST ABBS LIFEBOAT (SCIO)
TRUSTEES, REPORT {CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Management of the trading company - the finan(yal and operational management of tho trading Company
continues to be undertaken by the 2 current Dir¢¢tors, with assistance from the accountants. The shop has been
open for 3 days a week during the spring and Sufflmer season slaffed by a core of 15 volunteers. There was atso
a speual Christmas shoppin9 opening. The sales figures continue to bè high. Thi5 period saw the launch of
online trading whsch is organls8d and njn by our main partnerlsuppller. Dunbar T Shirts and has proved very
5ur£e5sfvI.
External fundraisin9 activlty - Fundraising activity by Indiwduals and gr(wJps remains al o very hlgh ￿Ve1 and
many donor groups were welcomed al the Station wTrlh a%ockqled media coveragg.
Donations- Donations also remab) al a high level fr￿n indNidLtals. trusts. ftFner81 collections and estates.
Communlcatlons - The Lifebo81 website which went live in September 2023 continues to be a useful resource
and is maintained and kèpl up lo dale with posting of news stones and updates. The history archive has been
launched which allows public access lo a lot of historical material. Facebook remains the other communication
tool and Is regularly updated and monitored.
M•mbershlp we remain a member of the National Independent Lifeboat Association Inform8tton sharing,
partnership working and contacts havè prov$d invaluable Ihrou9houl the period and have brought benerrts to us.
Plans for the future
Operntlonal - 2025 will See our 5 year Dedared Facility inspection and, if surxessfvl, OUT agreemenl renewed.
Focus prior to this musl thgrefoTe be centred on the training system, pl8n, m8teria15, method of recording and
systematic undertaking. The established maintenance and recoiding ol Lk)al mainienance must also continue lo
ensure we remain compliant wtth the Rescue Boat Code at all times. 11 Is hoped that reful￿'shMent works to the
Station can be completed in 2025 arKI that replacement suits L¥n be purchased on a rolling programme as
required.
Trading Company - the trading company hopes that the online shop will continue successfully. In¢reasing year-
round sales ¢)f mefd)andise and reaching a wider target market.
Fundralslng
in lemis of ffiJndraising, the team will continue lo work towaids a 10 year Tolling re$erve for the
operation of the lifeboat into the luturo.
Event8- 2025 will see the Start of planning for the 10 year anniversary ol the launch of the Lifeboat.
Overall. St Abbs lifeboat continues lo provide the seNice for which it Was set up, and remains grateful for thè
financAal support and volunteer input from all OLFr supporters, allowing it lo fvwll its aims.
Flnanelal rgview
Total income for t1￿ per¥)d amounted to £128,52612023'. £f09,8361 of which £5,66712023.' £2,545) came by
way of Legacies, for which the Trustees are immensely grateful. Total expenditure was £42,11612023.' £44,885)
resulting in an overall ¥urplus for the period of £86,41012023.. £64,951 surplus).
The balanc8 of unrestricted general funds as at 30 September 2024 was £325,816 12023." £283.906). with the
unrestri¢ted designated fund recording a dosing balanee (rf £464,500 {2023'. £420,000}.
Policy on reserves
The inttial policy was to ra*se £S00,(K)O in or<ler to finance the purchase of a lifeboat and associated lifesaving
equipment and (o ensure ongoing operallons. In Ihe period ended 30 September 2024, lund8 raised amounted to
£97.37412023.' £84,850).
Future policy on reservès És lo strive lo ensure that there i8 a￿ayS sufficiertt ￿serveS to secure the continued
operatson and luture ￿placement of tho lifeboat and eq¢Jipment for a rolling 10 year lime period. Al curient
operaling costs. this reprgsents approximately £370,OW of gxp¢nditur&. This will be inueased each year to
refleca inflation.

ST ABBS LIFEBOAT {SCIO)
TRUSTEES. REPORT {CONTINUED}
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Prlnclpal lunding 8our¢¥8
Funding has been received frorn generous donations. legacies. grants, events and fundraising. £1,000 was
donated by The Caram Charttabb Twst, £1.000 from the Ethel and Gwyn Morgan Trust and £2.OCKI was donated
from the Bu£*land Charitable Trust. £22,084 {2023.' £22.7441 was also distributed from the Charity's trading
subsidiary company, St Abbs Lrfeboat Trading Ltd. £28,305 will be distributed from Ihe trading company to the
Charity In the ￿MIng year.
Rlsk review
The Trustees have overall responsibility for ensursng the Charity has appropriate systems of control, financial and
othe￿iSe. As part of thi5 contrtsl, th6 Trustees have undertaken skills audits and risk assessrnents and have p
in place systems and policies lo manage any such risks. These policy documents are subject to regular review at
Tru$lee$' meetings to ensure Iheii ¢<y)lenl is being kèpt (tp to date and remains lully compliant.
Structure. governance and managemènt
The Charity is a Scottish Chariiable Incorporated Organisation ISCIOI and wa$ rggislÉr8d wlh OSCR on 2
February 2016.
The Truslees who served during the period 8nd up lo the date of signature of the finanaal statements were..
The board may at any time appoint any person to be a Charity Trustee by way of 3 resolution passed by majority
vole 81 a board meeting. Future recruilrnent looks encouf8ging, wtth a number of applications to join the crew
being receivèd in the last year. At the AGMI1￿111￿￿lII retire, wlth all eligit￿t
for re-ele¢lion.
Having been cA)-OPted as Trustees on 15 July 2024. the appointments of
formalty approved at the last AGM held 19 September 2024.
ere
Ofganisatlonal structure
The Ch8rity Trustees forrn the board who hold regul8r meeting$ and generally ￿ntrol the activities of th&
organi58ts'on. The Charity Trustee5 must eled (from among Ihemselvesl a chair. a treaSu￿r and a secretary.
They may elect fijrther office bearers if they consider that appropriate. All of the office bearers will cease to hold
office al the ¢on¢lusion of each AGM bul may be re-eleded. The Tru51ees have do1¢gated Ihe offic¢$ ol ¢hair.
secretary and treasurer.

ST ABBS LIFEBOAT {SCIO)
TRUSTEES, REPORT (CONTINUED
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Statement of Trustees, responslbllltles
Th& Twslees are responsible for preparing the Trustees, Report and the financial ststemenls in accordan￿ with
8pplicable law and United Kingdom Accounting Standards IUnit8d Kingdom Generally Ac£epted Accounting
Practi¢x}.
The law appluble to charities in Seotland requirt$ the Trustees lo prepare financial statements for each
finanaal year which give a tlue and fair view of the stsle ol affairs of the Charity and of the incoming resources
and application of resource5 of the Charity fo¥ that period.
In preparing Ih$$e ffinancial Statements, the Tnjstees are required to..
Select suit8ble accounting policies and then apply them consistenlly..
observe the methods and princAples in the Charthes SORP,.
- make judgements and ests"mates that are reasonable and prL￿enI.,
state whether applicab￿ ac¢ounling stsnd8rds havg been followed, subject to any material departures
disdosed and explained in the finanual statements.. and
prepare the finanaal stslemenls on the going concem basis unless it is inappropriate to presume that the
charity will continue In operatKIn.
The Trustees Ère respons*ble for keeping suffictent accounting records that disclose w¢th reasonable aeojracy at
ony time the financial po811ion of the Charity and enable them to ensure thal ihe financial statements comply wrth
the Charities 8Ad TRJslee Investment Iscollandl Act 2005. the Charrties Accounts (Scotland) Regulations 2(K
las amendedl and the provisions of the Iru5t deed. They are also responsible for safeguarding the assets of the
Charity 8nd hgn¢¢ for taking reaSona￿e step5 for the prevention and detection of fraud and olher irregtslartties.
The Trustees. report was approved by the 8oard of Trustees.
Dated..
loLJ.

ST ABBS LIFEBOAT (SCIO)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ST ABBS LIFEBOAT ISCIO)
I report to the Trustees on my examination of the financial statements of Sl Abbs Lifeboat (scioi (the Charity) for
the perfod Qnded 30 September 2024.
Respective resp0ns1blllV￿ Of Trustegs and ox•min&r
The Charity's Trustees are responsible for the preparation of the financial statements in accordance with the temis
of the Chariti¢$ and Trustee Investrnent Iscouandl Act 2005 and Ihe Charities Accounls {Scotland} Regulations
2006 The Charity Trustees considèr that the aLtdit requirement of Regulation 1011lla)-Icl of the Charities Accounts
(Scotlandl RegulalioT15 2CX)6 does not apply.
11 is my responsibility lo examine the financial 51alemenl$ 8$ required under se¢tion 44{111¢l of the Charities and
Trustee Investment (Scollandl Act 2005 and to stale whether particular matters have come lo my attention.
Basis of indèpènd•nt examlntrfs statèment
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotlandl Regulatsons
2006. An examination includes a review of Ihe accounting records kept by Ihe tharily and a comparison ol the
financial statements presented with those records. It also includes consideration of any unusual items or disdosures
in the finanual statements, and seekin9 explanations from the trustees cOn￿rning any such matters. The
prowfure$ undertakeTr do not provide all the evidence that would be requifed in an audit and consequently I do nol
express an audit opinion on the view given by the finanaal statements.
Ind•pandent examinerfs statement
In the course of my examinatson. no matter has coma to my attent￿n
1. vthich gives mè re860nabte cause to belwe that in gny m*¢r¢81 re$pe¢t the requirem¢nl$'.
to keep accounting records in 8c¢ordan¢* w¢th Sec*ion 44{11{81 of the Charill&s and Trustse Inveslrneftl
{Scodandl Act 2005 and Regulation 4 of the Charities Accounts Iscollandl Regulations 2006, and
to prepare financial statements which accord with the aco?unling records and comply with Regulation 8 of
the Charities Accounts ISc£)tland} Regulations 20C6
h8ve not been met, or
2. to whi¢h. in my opinion, attention should be drawn in order to enable a proper understanding of the financial
statements to be reathed.
Dal&'.

ST ABBS LIFEBOAT (SCIO)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Current financlal perlod
Unrestrlctsd Unr•strl¢ted
funds
funds
gèneral designated
2024
2024
Total
Totsl
2024
2023
Notes
Income and endowmènts from:
Donations and legaoes
Olhol tr8ding activities
Investments
Other income
81,369
16,QA)S
28,073
3.079
81,369
16.rx)5
28.073
3.079
74,609
10.241
14,540
10,448
Total Income
128,526
128.526
109,836
Expenditure ¢>n:
Raising lunds
Charitable activities
7.119
34,997
7.119
34.997
5,892
38,993
Total expendlture
42.t16
42.116
44,885
Nèt in¢ome
86,410
86.410
64,951
Transfer5 be￿een fvnds
144.5001
44.500
Net movement In fund$
41,910
44.500
86,410
64,951
ReconcilIa￿On ol fund8'.
Fund balances at 3 August 2023
283,9CkS
420,000
703,906
638,955
Fund balances at 30 Sèptèmber 2024
325,816
464.5L)O
790,316
703,9C
The statement of finandd activities Includes all gains and losses recc>anised in the p8riod. All incL*me and
expenditure derive from continuing adivf(ies.

ST ABBS LIFEBOAT {SCIO)
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Prlor firAnc5al year
unr¥strI¢t￿ Unrestricted
funds
funds
general desSgnated
2023
2023
Total
2023
Notes
In¢om• and endowments from:
Donations and legacies
Other trading activitie5
Investments
Olhar i￿)Me
74.609
10.247
14,540
10.446
74,609
10,241
14,540
10.446
Total Incom¢
109,836
109,836
Expenditure on:
Raising fund8
Charitable adwities
5,892
38,993
5.892
38,993
Total expenditure
44,885
44,885
N•t In¢ome
64,951
64.951
Transfers behveen funds
(60,CHXII
80,000
Net movement in fund
4,951
60.000
64,951
Rèconclllatlon of funds:
FLtnd balan￿S al 3Augu8t 2022
278,955
360.000
638,955
Fund balances at 2 August 2023
283.906
420,000
703,9C

ST ABBS LIFEBOAT (SCIO)
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
2024
2023
Notss
Flxed assèts
Tangible assets
Investments
13
14
5,284
2,636
5.265
2,637
Current assets
Deblois
Cash at bank and in har
15
22,502
765,612
27.117
677,165
788,114
704,282
Cr•ditors-. amounts falling due withln
on• year
16
{3.063)
(3.0131
Net Gu￿ent assets
785.051
701,269
Total assets lèss eurrènt liabilities
790.316
703,9(
The funds of the ChArlty
Unreslrided fvnds- general
un￿stIlCted ￿nd$- designated
18
17
325,816
464.500
283,9r
420,0(Y)
790,316
703,9r
The financaal slalements were approved by the Trustees
10-

ST ABBS LIFEBOAT {SCIO)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Accounting poli¢ie¥
Charity Infomiatlon
Sl Abbs Lifeboat ISCIOI Ith8 Charity) is a Scottish Charitable Incorporaled Organisation registeied with the
Office ol the Scottish Ch8ril Re
ulalor
OSCRI, number SC046312. The reglstered offi¢0 1$
1.1 Reportin9 period
The Charity Trustees look the decjsion to Change the Ch8ritY$ reporting period. The ¢U(￿nI period 18 the 14
months to 30 September 2024, whereas the comparative is lor the 12 months 10 2 August 2023. As a result,
thè eomparative amounts presented in the finanri81 slalement5 {induding related nolesl are not entirely
comparable.
1.2 Accounting convention
The financial statements have been prepa￿ in accordance with the Charity's goveming document, the
Charities and Trustee Investment Iscodandl Act 2005, the Charities Accounts {Scotlandl Regulations 2006
las amended), FRS 102 'Thè Financial Reporting Standard applicable in ihe UK and Republic of Ireland.
I'FRS 102.) and the Charities SORP "Accounting at)d Reporting by Charities.. Statement of Recommended
Practice applicable lo ¢haritieg preparing their accounts in acCOrdat)￿ with the Financial Reporting Standard
applicable in the UK and RepÈJblic of Ir¢land {FRS 1021. (effective 1 January 2019). The CIHrity 4$ • Publ
Benefft Entity as defined by FRS 102.
The Chanty has taken advantage of the prov*wons In the SORP for ¢h8nties not lo prepare a Slalemenl of
Cash Flows.
The financ¢al statements are prepared in stefling. which is the functional currency of the Charity. Monetsry
amounts in thoss flnanoal statements are rounded to the nearest £.
The financial statements have be&n prepaied und¢r the historical cost convention. The principal ac¢ounts'ng
poltcies adopted are sel out below.
1.3 Golng concern
At the time of approvsng the finanual stslements. the Trustees have a reasonable expectation that the Charity
has adequate reSoUr￿S lo continue in opgralional existèncè for thè foreseeable future. Thus the Trustees
continue to adopt the going o)n¢em basis of a¢counllng In weporlng the fIn8nd￿ stat¢menls.
1.4 Charltable funds
Unrestricted fund$ are avallable for use at the dISc￿lon of ihe Trustees in furtherancE of their chariiable
objeCt￿e&.
Dosignated funds comprise funds which have been set aside at the discretion of the Tnjslees for speufic
purposes. The purposes ar¥J uses of the designated funds are set out in the notes to the finanual statements.
Restr￿ted fvnds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses ol the festricted funds are set 04Jt in the notes to the financial statements.
1.5 Incomè
Income is recognised when the Charity 1$ legally *ntillsd lo k after any performance ￿nditionS have been
mel. the amounts can be measured retiably. and it is prob8blè that ine4)me will be rer2ived.
Cash donations are recognised on ￿¢91p1. Other donations are recognised once the Charity has beon notrfi
of the donation. unless performance condstsons requiie deferral of the amount. Income tax recoverable in
relation to donatv)ns feceived under GiftAid or deeds ol ¢ovon8nt is re<x)gnised al the time of the donation.
11

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Accountlng pollel¥s
Icontlnuedl
LegacAes are recognised on receipt or othe￿ise if the Charity has been nolthed ol an impending distribution,
the amount is krhown, and receipt is exp¢¢ted. If the amount is not known. the legacy is treated as a
eontingent 8ssel.
Glfts of 9oods and services are incI￿jed in donations al the eslirnated ryjst of Ihe items wovided lo the
Charity. No rerDgnition OT valuation has been made to quantify lirne gwen freely from general volunteers.
Grants a￿ iecognised when the Charily has an entitlement to the funds and any conditions linkeil to tt)e
grants have been rnet. Where performance conditions are attached to the grant and are yet to be met, thè
in¢om8 1$ recognised as a liability and included on the b8lan¢e sheet as deferred income to be released.
1.8 ExpendltUT•
All expendrture is reco9nisèd once there 15 a legal or CL*nstruc￿ve obligatlon to that expenditure, il is probable
setllement is required and the amount can be measured reljably. Al ctssts 8Fe allocated lo the app14cable
expendilure heading that aggregate similar costs to that category. IM)ere cost8 cannot be directly attributed to
partitJJlar headings they have been allocated on a basis consistent with the use of resources, wth central staff
costs allocated on the b8si5 of lime spent, and depreciation charges allocated on the portion ol Ihe asset's
use. Other support costs are allocated based on the Sp￿ad of staff Costs.
Ralslng lunds
These are costs rncurred in attracting donations arHI legacies, Ihe managèment of investrnents and ihose
incurred in trading activiti.es that raise furKIs.
Charitable activiti•s
Charitable expenditure C￿MpriseS those ¢osts fjncurred by the Charity in the delNery of rts activities and
servi￿$ for rts bener￿larIeS. It indude5 both cos15 that can be allocaied direclty lo suth a¢uV￿e$ and those
costs of an indirect nature necessary lo support Ihem.
Support C*￿t5
Support costs include I￿￿traI ￿nCtionS and have t￿en allocated to adivty cost category on a basis consistent
with the use of resources, for example. allocating property costs by floor areas. or per capita, staff costs by the
Ilme spent and other costs by their usage.
Governance costs
These includtr the costs attritrrtjtable to the Charitys COmp￿sn(S with conslilulional and statutory requirements.
Induding independent examination, strategic man89omenl and Tru51ees' meetings and reimbursed expenses.
1.7 TangSble fixèd a$sets
T8￿Ible fixed assets costing £50 or mrjre are initially measured at cost and subsequendy measured at cost 01
valuation, net of deprèciation any irnpairment losses.
Deprerjalion is recognised so as to write off the ￿81 or valuation of assets less Iheif residLbal valuès over their
useful lives on the following ba88$'.
Llleboal and eq￿1pment
Websste
20% Straight line
33.33% Straight lirtt
The gain OT loss arislng on Ihe disposal of an asset is determined as ihe difference belween Ihe Sa￿ proceeds
and the carrying value of the 88sel, and is recognised in the statement of financial activities.
12

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
AccountSng pollcie$
{Contlnuedl
1.8 Flxed asset investments
Fixed asset investrTl8nts arè Initial￿ measijred at cost and subsequently measured at cost less any
acLumulaled impaiment losses. The investments are assessed for impairnient al each reporting date and any
irnpairment losses or reveisals of impairmeTFI losses are f$¢ognis¢d immedtat¢ly In net in¢om¢ll¢Xp¢ndilu￿I
for the year.
A subsidiary is an enltly controlled by th$ Charity. Control is th& power to govem the finanaal and operaling
policAes of the entty 50 as to obtain benefits from ts Èd¥vities.
1.9 Impa1rn7ent of fixed assets
Al each reporting end ¢Jale, the Charity reviews the carrying amounts of its langli )le assets to determine
whether ther8 is any indication that those assets have suffered an impairment loss. If any such indication
exists. the recoveratrle amount of the asset is estimated in order to determine the extent of the impairment
loss lif any).
1.10 Cash and eash equivalents
Cash and cash equivalents indude cash in hand, deposits held al Call wrth banks. other short-lemi liquid
inveslmenls with oiiginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
wilhin borrowings in wrrent liabilit¢es.
1.11 Flnancial instruments
The Charity has elected lo ap￿Y tho provisions of Section 11 '8asic Finanoal Instruments, and Section 12
'Olher Financial Instturnenls Issutrs. of FRS 102 to all of its financial instruments.
Finanaal instrumerts ar? recognis8d in the Charity's balance sheel when the Charity becomes party to the
contractual provisions of Ihe instrument.
Financ¢al assets and liabilities are offset, with the net amounts presented in the finanual statements, when
there ss a legally enforceable right to set off the recognised amounts and Ihe¥e is an intention to settle on a net
basis or to Tealise the asset and settle the liability simultaneously.
B4$1¢ finan¢Falass•ts
Basic financial assets, which incjude debtors and cash and bank balances. a￿ ini118lly measured al
Iran$a¢tion price including transaction costs and are subsequenuy carried al amortlsed cost using the effective
interest method unless the arrangement constitutes a financing transaction, where Ihe transaction is
measufed at the present value of the future receipts discounted at a market rale of inlefe51. Financ4al assets
dassified as reowable within onè y¢ar are not amortised.
Bask flnanclal Ilabllltles
Basic financial liabilities, tnduding ¢rèditors and bank loans are initially recognised at transaction price unless
the arr8ngemenl Gonslitutès 8 financing transaction, where the debt instrument is measured at the present
value of the future payments di$￿Unted al a market rate of interesl. Finanual liabiliti'es dasstfied as payable
within one year are not #Mol￿Sed.
Debt instruments are subsequently carried at amortised cost, using thtr effective tnlei&sl rale method.
Trade uedrtors are obligations to pay for goods or services that have been ao4uired ￿ the ordinary ojurse of
operations from suppliers. Amounts payable are dassified as current liabilities if payment is due wilhin one
year or lass. If not. they are presented as non-current liabilities. Trade creditors are recognised initially al
transaction pri¢e and subsequently measured at 8mortised fA)St Ltsing the effective interest method.
D•r•cognilion of financial liabilities
Financial liabilili85 are d¢retsjgniS￿ when the Charws contractual obligatvjns expire or are discharged or
cancelled.
13-

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Crltlcal accounting •stimates and judgements
In the application ol the Charity's accounting poli¢ie$, the Trustees are required to make judgements.
eslin181es and assumpiions aboLrt IhÈ carrying amount of assets and Irabilities that are not readily app8rent
frorn other Sources. The estimates and assoualed assurnplions are based on historical expeTience and other
factors thal are considered lo be relev8nl. Actual results rnay differ from these estim816s.
The estimates and undtrrlying assurnplions are reviewed on an ongoing basis. Revisions to accounting
estimates are rèco9nised in the period in which the estimate is r¢vised wheie the revision affeds only that
period. w In the period of the Tevision and future periods where the rewsFon affects both current and f¢Jture
periods.
D¢)natlons and legacles
Unrèstricterl
funds
general
2024
Totsl
2023
Donations and grf(s
Legaoes recetvable
HMRC Gift aid
Donaknons and gifts from other charities
69,254
5,667
2.448
54.277
2.545
10,787
7.000
81.369
74.609
Donations and glfts
Donations from individu818
Donation from StAbbs Lrfeboat Trading Limited
47.170
22.084
31.533
22.744
69.254
54,277
other tradlng actlvlil•s
Unre$tTi¢ted
funds
general
2024
Total
2023
Events income
Ordnance SUTvey mapping inco
12.rx)5
10,241
er tradin9 activltfes
16.(X)5
10,241
14-

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Inve$tm•nts
Unrestricted
funds
general
2024
Total
2023
Interest receivablé
28.073
14.540
Other income
Unrèstricted Unrestricted
funds
funds
2024
2023
VAT refund
3.079
10.446
Ra￿rn9 funds
Unrestrfctsd
funds
gen¢ral
2024
Total
2023
Fundraisin
Advertising
Other ftsndraising costs
Premises costs
and ublici
1,172
1,437
3,283
2.212
3,211
7,119
5,892
15-

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Charltsblo actlvltltrs
2024
2023
Depreciation
crgw Irainirsg
Insurance
Repair5 and maintenance
Telecommunications
Medical supplies
Fuel
Postsge and slationery
3,202
3.028
7.084
13,926
1,422
5.543
6,896
17,270
765
2,028
1,585
116
1,322
31,931
Share of goveman¢e costs {see note 9)
3.066
2,910
34.997
38,993
Support eosts
Governance
costs
2024 Governance
o¥ts
2023
AC￿untanCY
3.066
2,910
2,910
3,066
3.C66
2,910
2,910
Analysed betr￿en
Chaiitable 8clivilie3
3.066
3,CE6
2,910
2,910
Goveman¢e c08ts includes payments to the hidependent &xamin$r of £3.(6612023= £2.9101 for accountancy
and indepèndent examination services.
10 Trustee¥
None of the Trustees lor any ￿T50￿8 conrsected wrth them) re￿iVed any ￿My￿eratIon 12023.. £Nil) or
benefils (2023." £Nill from thè Charity during the period.
16-

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEAIBER 2024
11 Employee6
Number of employees
The average monthly number of employees during the pÈriod was..
2024
Number
2023
Nurnber
Volunteer crew 8ttending tr8tning
20
20
There were no employees whose annual remuneration was £60,C(￿l or more.
12 Taxatlon
The Charity is exempt from taxation on its activities because all its incJ)me is applied for charitable purposes.
13 Tangible fixed 48$0ts
LS18boatond
•qulpmMt
W8b8
Total
Cost
At 3 August 2023
Additions
235,502
1.580
235,502
5.830
4,250
At 30 September 2024
237.a92
4,250
241,332
Dèpreciation and impaimient
Al 3 August 2023
Depreciation charged in the period
232,866
1,838
232,866
3,202
1,364
At 30 September 2024
234,704
236.(￿8
C•rryin9 amount
AI 30 Septernber 2024
2,378
2,886
5.264
AI 2 August 2023
2,636
2,636
14 Flxod ass•t Investrnents
Other
Investfnents
Cost or valuation
AI 3 August 2023 & 30 September 2024
Carrying amount
AI 30 September 2024
At 02 August 2023
17-

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
14 Flx•d ass¢t investrnents
Icontinued)
2024
2023
Other investment5 comprise..
Notes
Investments in subsidiafies
21
The profil for the financial period of Sl Abbs Lrfeboat Trading Limited was £28.305 {2023.. £22,084> and the
aggregate amount of capital and resetves al the end ol the period was £28.30612023'. £22.0851.
The company was incorpordled on 3 Jurte 2016, company number SC537077. The profit made in prior year ol
£22,084 was distributèd lo Sl Abbs Lifeboat SCIO in the current financial period.
15 Dgbtors
2024
2023
Amounts falling due wlthln one year..
Amounts owed by fellow 9ro4) undertakings
Other debtors
Prepayments and accrued income
14,255
8.247
14,630
10,787
1,7
22,S02
27.117
16 Credltors: amounts falllng due wthin (x)e year
2024
2023
Trade creditors
Accruals and ¢Jèfgrrgd income
229
2,784
3,063
3.063
3.013
18-

ST ABBS LIFEBOAT (SCIO)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
f 7 Unrestrlcted funds- desSgnatèd
The fvnds of the Charity indude the following designated funds which have been sel asid¢ out of unreslrided
funds by the Trustees for speofic purposes..
At 3 August
2023
Transfers
At30
S•pt•mber
2024
Working Capital Reserye Fund
Ltfeboat and Equipment Repl8¢emenl Fund
feboal Re-fft Fund
40,000
330,000
50,000
42,0
370,OIXJ
52,500
40.￿0
2,500
420,000
44.500
464,500
Pr•vlous year..
At 3 August
2022
Transfers At 2 August
2023
l)rking Capital Reserve Fund
Lifeboat 8nd Equipment Replacement Fund
Lifeboat Re-fit Fund
io.coo
50,000
40,000
330,0Th)
50,000
280,000
50,000
360,000
60.(KJO
420,000
Following discussions amongst the Trustees and to recxjgnise annÈJal inflatlOn8ry rises il was agreed ihat the
Charity should by way of transfer continue to d￿gnate some of its unrestricted general funds for the following
described purp05es".
Worklng Capital Reserve Fund
To ring fence and ensure the Charity ha5 access lo on¢ years working capital in order to manage risks against
any exceptional cArcumslance5 that may cause a downlum in operational income bein9 received. such as a
pandemk.
Lifeboat and Equlpment Replacement Fund
Funds sel asid& for the eventual replacement of the Lifeboat and assorialed Equipment. Due to rising costs
and inflation, the Trustees antiapate that this fund balance will need lo be intte8sed each year going fo￿ard.
Ufeboat Re-fit Fund
In order lo extend the op&ralional lrfe of the existing Lrfeboat by a fijrther 5- 10 years, it is anticipated that
re-fit around lis 10th anniversary will need lo L* ¢arri¢d out.
19-

ST ABBS LIFEBOAT (SCIO}
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
18 Unrestrleted funds
The Unrestr￿¢￿ fund5 of the Charity Comprise the unexpended balances of donations and grants which we
not subject to speufic conditions by donors and grantors as lo how they may be used.
At 3 August
2023
In¢oming
resources
Resources
expèndod
Tran$fers
At30
Septembor
2024
General fvnds
283.gJ6
128,526
(42.1161
144.5001
325.816
Previous y•ar:
At 3 August
2022
Incomlng
resources
Resaur¢*$
expended
Transfers At 2 AUg￿l
2023
General fijnds
278,955
109,836
{44,8851
{60.OCXJI
283.906
19 Analys1$ ol net assets betr•mn funds
un￿$trIcted Designated
fvnd
funds
2024
2024
Total Unrèstricted Designated
fund
funds
2023
2023
Totsl
2024
2023
Fund balances at 30
Septernber 2024 are
represented by..
Tangible assets
Investments
Current asselsloiabilitièsl
5.264
2,836
320,551
464.500
785,051
281.289
420,CKJO
701,269
325,816
790,316
283.￿6
420,￿0
703,X6
Related party transactions
There weie no disdosable related party transaction$ during the period {2023.- None).
21 Subsidiarie$
Delail$ of Ihe Charity's stjbsidiaries in which the Charity holds 2Wo or more of the nomrnal value of any class
of share capital at 30 September 2024 are as foll¢N5.'
Name of undèrtaklng
R•glstor•d
office
Nature of buslness
Class of
% Held
sharèty held Dlreet Indir¢¢t
stAbb5 Lrfeboal Trading
Limited
So)tland
Retail of lifeboat paraphemalia Ordinary
100.00
-20-