Moray Inshore Rescue Organisation - Charities report - 20.2
Moray Inshore Rescue Organisation - Charities report - 20.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 March 2020 |
| for |
| Moray Inshore Rescue Organisation |
| Moray Inshore Rescue Organisation |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2020 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| Moray Inshore Rescue Organisation (Registered number: SC307007) |
| Report of the Trustees |
| for the Year Ended 31 March 2020 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The objects and activities of the company for the year under review were: |
| 1. The provision of an Inshore Rescue facility to save life, covering the area of Findhorn Bay and up to three miles off shore, from Burghead in the East to Nairn in the West |
| 2. To support HM Coastguard and RNLI Operations. |
| To meet these objectives the organisation now operates from their base at Findhorn Marina a 7.5m Humber Ocean Pro rib for use in the coastal waters up to three miles offshore, along with a smaller 4m boat for use within the basin. The vessel is crewed and supported by a volunteer team and is on call 365 days a year. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| MIRO has continued to maintain a 24hour capability throughout the year which saw MIRO respond to a variety of incidents from fishing boats taking on water to people and dogs cut off on sandbanks and paddle boarders in difficulties. |
| Volunteer numbers remain satisfactory and a number of new crew members have been recruited ensuring there is always sufficient volunteer crew and shore support available to maintain the service. |
| Five crew members undertook sea survival training and eight completed their Day Skipper courses. |
| Fund Raising has continued throughout the year with a variety of events from the Findhorn Fair to a Burns Supper. Grant funding from the Department of Transport and a variety of organisations has enabled us to have a new boat fully equipped which will allow MIRO to continue operations for several years. |
| . |
| FINANCIAL REVIEW |
| Reserves policy |
| MIRO has an ongoing programme for raising funds and the support of many individuals, local and national organisations has ensured that there are adequate funds to maintain operations at the current level. Grants have been provided for capital expenditure. |
| FUTURE PLANS |
| The Charity will continue to operate as in the past year from the base at Findhorn Marina maintaining the effective lifeboat service for the area. The successful updating of the boat and equipment along with enhanced shore facilities means the charity is well placed to continue the service it provides. The long term plans remain to eventually purchase our own land from which MIRO will be able to operate. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Recruitment and appointment of new trustees |
| Directors are appointed by members at the Annual General Meeting, or may be co-opted if a vacancy arises during the year. The decision making process is carried out by the directors who meet as required during the year. |
| The directors, crew members and supporting members are all volunteers. No director has a beneficial interest in the company. |
| Moray Inshore Rescue Organisation (Registered number: SC307007) |
| Report of the Trustees |
| for the Year Ended 31 March 2020 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Gordon Scott |
| Chartered Accountants |
| Scottca Ltd |
| 34 Ferryhill |
| Forres |
| Moray |
| IV36 2GY |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Moray Inshore Rescue Organisation |
| I report on the accounts for the year ended 31 March 2020 set out on pages four to twelve. |
| The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention : |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
| - | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| Gordon Scott |
| CA |
| Gordon Scott |
| Chartered Accountants |
| Scottca Ltd |
| 34 Ferryhill |
| Forres |
| Moray |
| IV36 2GY |
| 23 October 2020 |
| Moray Inshore Rescue Organisation |
| Statement of Financial Activities |
| for the Year Ended 31 March 2020 |
| 31.3.20 | 31.3.19 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities | 2 |
| Investment income | 3 |
| Other income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 183,075 |
| Moray Inshore Rescue Organisation (Registered number: SC307007) |
| Balance Sheet |
| 31 March 2020 |
| 31.3.20 | 31.3.19 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 11 |
| Unrestricted funds | 173,055 | 182,088 |
| Restricted funds | 987 |
| TOTAL FUNDS | 183,075 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| Moray Inshore Rescue Organisation (Registered number: SC307007) |
| Balance Sheet - continued |
| 31 March 2020 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| Moray Inshore Rescue Organisation |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2020 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery | - |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| 2. | OTHER TRADING ACTIVITIES |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Fundraising events |
| Moray Inshore Rescue Organisation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 3. | INVESTMENT INCOME |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Deposit account interest |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2020 nor for the year ended 31 March 2019. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2020 nor for the year ended 31 March 2019. |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities |
| Investment income |
| Other income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Other |
| Total |
| NET INCOME |
| Transfers between funds | 85,553 | (85,553 | ) | - |
| Net movement in funds | ( |
) |
| Moray Inshore Rescue Organisation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 77,060 | 23,498 |
| TOTAL FUNDS CARRIED FORWARD | 182,088 | 987 | 183,075 |
| 7. | TRANSFER BETWEEN FUNDS |
| The transfer between funds relates to the reallocation of fixed assets, including those bought with restricted donation. |
| 8. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| VAT |
| Prepayments |
| Moray Inshore Rescue Organisation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Accrued expenses |
| 11. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.4.19 | in funds | 31.3.20 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 87,166 | (9,033 | ) | 78,133 |
| Boat and equipment | 94,922 | - | 94,922 |
| (9,033 | ) |
| Restricted funds |
| General Resticted | 987 | 20,437 | 21,424 |
| TOTAL FUNDS | 11,404 | 194,479 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 21,258 | (30,291 | ) | (9,033 | ) |
| Restricted funds |
| General Resticted | 23,843 | (3,406 | ) | 20,437 |
| TOTAL FUNDS | ( |
) | 11,404 |
| Comparatives for movement in funds |
| Net | Transfers |
| movement | between | At |
| At 1.4.18 | in funds | funds | 31.3.19 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 70,818 | 24,849 | (8,501 | ) | 87,166 |
| Boat and equipment | 6,242 | (5,374 | ) | 94,054 | 94,922 |
| 77,060 | 19,475 | 85,553 | 182,088 |
| Restricted funds |
| Boat & equipment | 23,498 | 62,055 | (85,553 | ) | - |
| General Resticted | - | 987 | - | 987 |
| 23,498 | 63,042 | (85,553 | ) | 987 |
| TOTAL FUNDS | 100,558 | 82,517 | - | 183,075 |
| Moray Inshore Rescue Organisation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 11. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 26,862 | (2,013 | ) | 24,849 |
| Boat and equipment | - | (5,374 | ) | (5,374 | ) |
| 26,862 | (7,387 | ) | 19,475 |
| Restricted funds |
| Boat & equipment | 62,055 | - | 62,055 |
| General Resticted | 12,000 | (11,013 | ) | 987 |
| 74,055 | (11,013 | ) | 63,042 |
| TOTAL FUNDS | 100,917 | (18,400 | ) | 82,517 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net | Transfers |
| movement | between | At |
| At 1.4.18 | in funds | funds | 31.3.20 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 70,818 | 15,816 | (8,501 | ) | 78,133 |
| Boat and equipment | 6,242 | (5,374 | ) | 94,054 | 94,922 |
| 77,060 | 10,442 | 85,553 | 173,055 |
| Restricted funds |
| Boat & equipment | 23,498 | 62,055 | (85,553 | ) | - |
| General Resticted | - | 21,424 | - | 21,424 |
| 23,498 | 83,479 | (85,553 | ) | 21,424 |
| TOTAL FUNDS | 100,558 | 93,921 | - | 194,479 |
| Moray Inshore Rescue Organisation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2020 |
| 11. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 48,120 | (32,304 | ) | 15,816 |
| Boat and equipment | - | (5,374 | ) | (5,374 | ) |
| 48,120 | (37,678 | ) | 10,442 |
| Restricted funds |
| Boat & equipment | 62,055 | - | 62,055 |
| General Resticted | 35,843 | (14,419 | ) | 21,424 |
| 97,898 | (14,419 | ) | 83,479 |
| TOTAL FUNDS | 146,018 | (52,097 | ) | 93,921 |
| 12. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 March 2020. |