1951 s. d.

185,434 4 6 399 7 10 39,000 9 11 9,599 10 7 97 9 4 30,205 8 3 13.142 13 - 1,080 1 7 2,682 19 5 281348 4 5 016 18 6 010 11 11 2.024 7 6 1,321 17 3 92 17 2 4,006 12 4 18,129 1 9 19,983 13 9 57 1 9 38,109 17 3 46,002 6 11 9,425 1 8 41,187 2 5 643 18 2 __ _ 52,017 iTTO 20,716 15 5 3.219 10 11 541 9 10 ; 24.477 16 2 9,594 8 7 839 8 6 83,596 4 6 | 8,258 16 10 5,569 15 4 4,519 1 4 i | 2,068 3 3 "114,445 18 4 569,288 5 3 EXPENDITURE LIFE-BOATS :— New Life-boats for the following Stations: On account— Aberdeen, Aberystwyth, Barrow, Campbeltown, Clacton, Clogher Head, Cloughey, Donaghadee, Exmouth, Eyemouth, Flamborough, Gourdon, Holyhead, Hoylake, Humber, Ilfracombe, Margate, Minehead, New Brighton, Padstow, Peel, Plymouth, Pwllheli, Ramsgate, Rosslare Harbour, St. Abbs, Walton, Whitehills; materials for future building and improvements and alterations to existing fleet ..

Upkeep of Cowes Office and Store Upkeep of and Repairs to Life-boats Rentals and Maintenance of Radio Equipment and Loud Hailers, and Radio Licences Consulting Naval Architect Salaries of Superintendent Engineer, Surveyor of Life-boats, Inspectors of Machinery, Assistant Surveyors of Life-boats and Machinery, Draughts- men, and Clerical Staff Travelling Expenses Gratuity and Pensions under the Pension Scheme Contributions to 1938 Pension Scheme LIFE-BOAT CARRIAGES AND TRACTORS:— Alterations and Repairs to Life-boat Carriages Repairs to Tractors Salaries of Assistant Surveyor of Carriages, and Tractor Engineers Travelling Expenses Contributions to 1938 Pension Scheme LIFE-BOAT HOUSES AND SLIPWAYS:— New Construction and Adaptation Repairs and Maintenance Pension under the Pension Scheme LIFE-BOAT STORES LIFE-BOAT DEPOT including Rates, Insurance, Equipment and Repairs Salaries of Superintendent of Depot, Assistant, and Clerical Staff and Wages of Manual Workers Gratuities and Pensions under the Pension Schemes ..

Contributions to 1938 Pension Scheme PAYMENTS IN CONNEXION WITH LIFE-BOAT STATIONS, such as Conveyance of Life-boats, Carriages, Tractors, and Stores; Work to Moorings; Small Repairs and Purchases made locally; Tele- phones ; Postages, etc.

Insurance under National Insurance Acts and against claims at Common Law Salaries of Assistant Secretaries, etc., of Stations WAGES, REWARDS AND OTHER PAYMENTS TO COXSWAINS, MOTOR MECHANICS AND CREWS :— Cost of Wreck Services, including Rewards to Life- boat Crews and others, Special Rewards and Recognitions, Medals and Vellums Grants to men injured in the Life-boat service Fees of Coxswains, Bowmen and Signalmen, Wages of Motor Mechanics, etc.

Payments to Life-boat Crews and Launchers for exercises Annuities and Gratuities under the Regulations to Coxswains, Bowmen, Signalmen, Part Time and Assistant Motor Mechanics Pensions and Grants to Relatives of deceased Life- boatmen and others Pensions and Gratuities under the Pension Scheme to Ex-permanent Crews of Life-boats Carried forward s. d.

226,765 8 4 229 .10 2 29,963 7 7 10,020 - - 120 18 9 30,980 4 6 12,043 - 11 1,638 - - 2,836 16 1 603 10 3 280 9 9 1,867 4 - 911 7 7 150 18 9 11,978 10 11 24,357 14 6 30 - - 7,130 - 9 41,665 12 8 987 14 - 759 16 8 20,211 18 2 3,503 - 7 414 - 6 11,795 14 9 1,585 11 - 82,148 7 9 7,169 19 10 5,319 6 9 4,973 7 4 1,714 8 2 320,609 3,813 10 36,375 5 38,105 19 50,543 4 114,706 15 £588,283 - 1951 £ s. d.

7.761 13 6,935 6 19,024 1 15,310 4 11,413 17 4,196 15 II 1.550 - - 264 13 5 12,618 13 9 3,191 2 6 52,266 8 8 INCOME SUBSCRIPTIONS, DONATIONS, ETC.:— General Subscriptions to Headquarters ,, through Station Branches ,, through Financial Branches Donations to Headquarters ,, through Station Branches ..

„ through Financial Branches Contributions from Harbour Authorities towards upkeep of Life-boat Stations Contribution Boxes to Headquarters ,, ,, through Station Branches ,, ,, through Financial Branches s. d.

7.368 6,184 20,774 14,339 45,670 151,191 2.175 375 12.960 3,722 14 14 17 3 11 6 „ 18 10 8 1 6 1 1 _ - _ - 6 10 s. d.

264.763 3 1 5,921 16, 6 208 5 - LIFE-BO AT FUNDS:— Civil Service Life-boat Fund (per C. H. Barrett, Esq.) in respect of the following Life-boat Establishments: Blyth, Hartlepool, Holyhead, Margate, Portrush, Port St. Mary, St. David's, Southend-on-Sea and Walmer Bevan Reward Fund (per the Charity Commissioners) 5,747 11 3 208 5.955 16 3 53,164 16 3 1,254 - - 624 15 8 1,878 15 8 51,286 - 7 5,760 - - 57,046 - 7 295,422 10 9 INCOME FROM INVESTMENTS :— Dividends and Interest on Investments (less £5,595 4s. 7d. tax) Less— £ s. d.

Interest on certain Trust Funds transferred to Special Purposes Fund 1,235 10 10 Interest on certain Endowment Funds transferred to General Subscriptions, etc. (in accordance with the directions of the respective donors) 627 9 10 Income Tax recovered on Dividends Carried forward 52,647 14 3 1,863 - 8 50,784 13 7 5,460 14 5 56,245 8 - 326,964 7 41951 £ s. d.

95,442 10 9 7,633 6 5 881 8 8 8,514 15 1 03,957 5 10 81,774 18 7 85,732 4 5 5,263 18 5 28,438 17 4 36,425 16 - 64,864 13 4 55,860 16 2 85,732 4 5 00,000 - - ,85,732 4 5 23,846 19 5 INCOME Brought forward ., £ s. d.

326,964 7 4 SUNDRY RECEIPTS :— Sale of old Stores 10,895 4 1 Rentals of Freehold and Leasehold Premises .. .. 817 15 11 Total Ordinary Income ..

LEGACIES FOR GENERAL PURPOSES ..

11,713 - - 338,677 7 4 273,569 10 3 TOTAL INCOME FOR GENERAL PURPOSES 612,246 17 7 612,246 17 7 Gifts and Legacies for Special purposes transferred to Funds:— General Endowment:— Legacy 6 11 3 Special Purposes and Maintenance:— £ s. d.

Legacies . . .. .. . . 59,490 5 10 Special Gifts 67,964 9 2 127,454 15 - Total Income .. 739,708 3 10 Deduct:— Amount transferred to Reserve for Replacement of Life-boats Transfer from General Purposes Fund to cover excess of expenditure, not borne by special funds, over income for general purposes 100,000 - - 512,246 17 7 NOTE.—This account includes the receipts and disbursements of the Headquarters of the Institution for the year to 31st December, 1952, and of the Branches for the year to 30th September, 1952.

509,579 3 10 £512,246 17 7Dr. GENERAL ENDOWMENT FUND, ! The Income to be applied for the purposes of the Institution £ *. d.

To TRANSFER TO GENERAL PURPOSES FUND ON FULFILMENT OF TRUST 857 2 10 „ BALANCE AT 31ST DECEMBER, 1952 240,331 3 5 £449,552 7 11 Dr. RESERVE FOR REPLACEMENT OF £ s. d.

To EXPENDITURE ON NEW LIFE-BOATS .. .. .. .. .. 226,765 8 4 Less BORNE BY SPECIAL PURPOSES AND MAINTENANCE FUND .. 94,405 19 1 £1,114,801 5 8 £241,188 6 3 Dr. SPECIAL PURPOSES AND MAINTENANCE FUND, The Capital to be applied for the purposes of the Institution To DEFRAY EXPENDITURE AS SHEWN IN £ s. d.

,, INCOME AND EXPENDITURE ACCOUNT:— ox NEW LIFE-BOATS .. . . .. .. .. .. 94,405 19 1 ON OTHER PURPOSES .. .. .. .. .. .. 22,177 17 3 „ TRANSFERS FOR EXPENDITURE PREVIOUSLY CHARGED AGAINST OTHER FUNDS:—• GENERAL PURPOSES FUND .. .. .. .. .. 278 16 - RESERVE FOR REPLACEMENT OF LIFE-BOATS .. .. .. 125,052 3 2 ,, TRANSFER TO GENERAL PURPOSES FUND ON FULFILMENT OF TBUST 148 15 8 ,, GRANTS IN CONNEXION WITH CERTAIN TRUST LEGACIES .. .. 930 18 2 „ BALANCE AT 31ST DECEMBER, 1952 217,842 15 6 £460,837 4 10 Dr. GENERAL PURPOSES FUND, £ s. d.

To PROVISION FOR ADDITIONAL LIABILITY, 1909 PENSION SCHEME .. 4,846 19 3 „ Loss ON SALE OF INVESTMENTS .. .. .. .. .. .. 609 17 ,, DISCHARGE OF HARBOUR COMMISSIONERS BOND .. .. .. 2,694 - - „ BALANCE AT 31ST DECEMBER, 1952 .. .. .. .. .. 441,401 11 8 132,359 9 3 BALANCE AT SlST DECEMBER, 1952 982,441 16 531st December, 1952.

in accordance with the directions of the respective Donors.

By BALANCE AT 31 ST DECEMBER, 1951 „ LEGACY (INCOME ONLY AVAILABLE) RECEIVED IN THE YEAR Cr.

£ s. d.

241,181 15 - 6 11 3 £241,188 6 3 31st December, 1952.

in accordance with the directions of the respective Donors.

By BALANCE AT 31ST DECEMBER, 1951 ,, LEGACIES AND GIFTS FOR SPECIAL PURPOSES (CAPITAL AVAILABLE) RECEIVED IN THE YEAR :— £ s. d.

Legacies 59,490 5 10 Special Gifts 67,964 9 2 „ INTEREST ON UNEXPENDED BALANCES OF CERTAIN SPECIAL TRUST FUNDS Cr.

£ s. d.

332,146 19 - 127,454 15 - 1,235 10 10 £460,837 4 10 31st December, 1952.

By BALANCE AT 31sT DECEMBER, 1951 ,, TRANSFER FROM GENERAL ENDOWMENT FUND AS ABOVE „ TRANSFERS FROM SPECIAL PURPOSES AND MAINTENANCE FUND AS ABOVE ..

,, TRANSFER FROM INCOME AND EXPENDITURE ACCOUNT Cr.

£ s. d.

431,304 8 2 857 2 10 427 11 8 16,963 5 3 £449,552 7 11 LIFE-BOATS, 31st December, 1952.

By BALANCE AT 31 ST DECEMBER, 1951 ,, TRANSFER FROM SPECIAL PURPOSES AND MAINTENANCE FUND AS ABOVE ..

,, TRANSFER FROM INCOME AND EXPENDITURE ACCOUNT Cr.

£ s. d.

889,749 2 6 125,052 3 2 100,000 - - £1,114,801 5 81951 £ s. d.

241,181 15 - GENERAL ENDOWMENT FUND (Income available in accordance with the directions of the respective Donors) 889,749 2 6 I RESERVE FOR REPLACEMENT OF LIFE-BOATS ! The estimated cost of replacing the entire Fleet exceeds £3,000,000 I and the estimated liability for replacements at present contemplated exceeds £1,000,000, part of which will be met by Special Gifts and Legacies.

431,304 8 2 GENERAL PURPOSES FUND Of this Fund £121,725 relates to Freehold and Leasehold Properties necessary to the Institution's work. The balance of £319,676 is available for the general purposes of the Institution and is intended to cover ordinary liabilities as they arise, including certain pensions, insurance risks in respect of the Life-boat Fleet and Crews not otherwise covered, and replacements other than Life-boats. Replacements at present contemplated include new construction and adaptation of Life-boat Houses £200,000 and provision of new Tractors £30,000.

240,331 | SPECIAL PURPOSES AND MAINTENANCE FUND (Capital to be applied in 332,146 19 - j accordance with the directions of the respective Donors) .. .. 217,842 1 982,441 1 441,401 11 £1,894,382 4 8 £1,882,017 7 i (Signed) GODFREY BARING Chairman.

j (Signed) A. D. BURNETT BROWN | Secretary.

I We have examined the above Statement, also the Income and Expenditure Account an correct and in accordance therewith. We have also verified the Investmen! i 3 Frederick's Place, ' Old Jewry, London, E.C.2.

I 20th February, 1953.

1951 ] £ s. d. ; £ INVESTMENTS at Valuation on 31st Dec., 1951, or cost if acquired since.

d.

3,112 19 1 3,068 15 11 1,181 15 - GENERAL ENDOWMENT FUND—Income only available: British Government Securities 234,736 17 2 British Corporation Stocks .. .. .. .. 5,594 6 3 (Market value at 31st Dec., 1952, £236,710 5 5).

240,331 3 5 6,852 6 512 0,384 4 959 18,709 19,891 !5,256 19 13 19 I 14 9 7 10 g Q — - 2 OTHER FUNDS : — • British Government Securities Colonial Government Securities .

British Corporation and Public Boards Sundry Small Investments Stocks (Market value at 31st Dec., 1952, £1,415,563 L otsl Investments (JVl3.rket vfilue £it oist JJec. , £1,652,273 13 7) FREEHOLD PREMISES (At cost) : — Including Life-boat Depot at Boreham Wood ..1,205,898 15 3 36,512 13 8 . . 157,859 8 8 . . 22,870 8 10 ci ct 1 /IOQ T A 1 8 2) • 1,420,141 952 1,663,472 85,256 6 5 & 10 7 2 36,807 12 3 52,172 17 11 32,798 4 2 19,374 13 9 53,052 2 6 94,382 4 8 LEASEHOLD PREMISES—(At cost less amounts written off):— Including 42/44 Grosvenor Gardens BRANCH ACCOUNTS:—- Balances in hands of Branches, 30th Sept., 1952 .. 77,753 6 8 Less Balance of Remittances between Headquarters and Branches, October to December, 1952 47,900 16 8 36,469 9 1 CASH AT BANKERS 29,852 10 - 66,966 10 11 £1,882,017 7 - the Accounts of the Funds with the Books and Vouchers and find the same to be and inspected the Deeds of the Properties belonging to the Institution.

(Signed) PRICE WATERHOUSE & CO., Auditors.THE LIFE-BOAT SERVICE Its Expenditure at a Glance How each £100 of the Institution's Expenditure was paid out in 1952 £ s. d.

32 1 7 KK H M MM Bi BBi New Construction.

34 17 8 • ••• •••• ••• • • M Maintenance of Lifeboats and Stations (including Depot).

15 8 3 _•_•__• Payments to Life-boat Crews.

3 16 0 _• Administration.

13 16 6 ™—™— Propaganda and Publicity at Headquarters and 1,037 Branches.

£100 0 0 Its Income at a Glance How each £100 of the Institution's Income was obtained in 1952 £ s. d.

15 16 9 H_M_a. Subscriptions, Donations, C o l l e c t i n g Boxes.

13 15 0 ___ Life-boat Days and House-to-House Collections.

5 12 5 _ Other Special Efforts.

1 7 9 • Boat-house Collections.

7 12 1 _« Income from Investments.

45 0 7 .M_ B — __ B _I«I BI«B_ Legacies.

9 3 9 ___ Special Gifts.

1 11 8 _ Other Sources.

£100 0 0 Notice All contributions for the Institution should be sent either to the honorary secretary of the local branch or guild, or to Colonel A. D. Burnett Brown, O.B.E., M.C., T.D., M.A., the Secretary, Royal National Life-boat Institution, 42 Grosvenor Gardens, London, S.W.I.

All enquiries about the work of the Institution or about this journal should be addressed to the Secretary.

The next number O/THE LIFE-BOAT will be published in December, 1953..