1952 £ s. d, 226,765 8 4 229 10 2 29,963 7 7 10,020 - - 126 18 9 36,986 4 6 12,043 - 11 1,638 - - 2,836 16 1 320,609 603 280 1,867 911 150 3,813 11,978 24,357 39 36,375 38,105 7,130 41,665 987 759 50.543 6 10 9 4 7 18 10 10 14 5 19 12 14 16 4 4 3 9 7 9 4 11 6 5 5 9 8 8 1 LIFE-BOATS:— EXPENDITURE New Life-boats for the following Stations : On account — Aberdeen, Bridlington, Campbeltown, Coverack, Bonaghadee, Exmouth, Eyemouth, Filey, Flamborough, Fraserburgh, Holyhead, Humber, Ilfracombe, Minehead, New Brighton, North Sunderland, Padstow, Plymouth, Pwllheli, Ramsgate, Runswick, St. Abbs, St. Peter Port, Stornoway, Walton ; 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, Draughtsmen, and Clerical Staff Travelling Expenses Gratuity and Pensions under the Pension Scheme Contributions to 1938 Pension Scheme LIFE-BOAT CARRIAGES AND TRACTORS:— New Tractors 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:— 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 £ 184,064 279 24,323 9,799 351 36,610 11,242 1,760 2,751 19,215 562 144 1,700 792 122 16,358 23,145 39 7,651 40,412 753 728 S.

4 7 4 10 9 18 15 8 5 2 13 19 2 10 19 5 17 4 7 d.

3 1 11 11 1 4 4 4 3 3 2 2 8 2 8 6 6 11 £ *.

271,182 18 22,537 2 39,543 9 33,639 6 4Q.5.15 14 20,211 18 2 3,503 - 7 414 - 6 24,128" 19 3 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 "114,706 15 7 588,283 0 5 PAYMENTS IN CONNEXION WITH LIFE-BOAT STATIONS :— Conveyance of Life-boats, Carriages, Tractors, and Stores; Work to Moorings; Telephones; Postages, etc 20,651 7 7 Insurance under National Insurance Acts and against claims at Common Law .. .. .. .. 4,158 3 11 Salaries of Assistant Secretaries, etc., of Stations .. 288 8 4 WAGES, REWARDS AND OTHER PAYMENTS TO COXSWAINS, MOTOR MECHANICS AND CREWS :— Cost of Wreck Services, including Rewards to Lifeboat Crews and others, Special Rewards and Recognitions, Medals and Vellums 11,867 19 6 Grants to men injured in the Life-boat service .. 989 15 2 Fees of Coxswains, Bowmen and Signalmen, W'ages of Motor Mechanics, etc. 88,460 6 3 Payments to Life-boat Crews and Launchers for exercises 7,760 7 8 Annuities and Gratuities under the Regulations to Coxswains, Bowmen, Signalmen, Part Time and Assistant Motor Mechanics .. 5,375 14 10 Pensions and Grants to Relatives of deceased Lifeboatmen and others .. .. .. .. .. 7,156 8 8 Pensions and Gratuities under the Pension Scheme to Ex-permanent Crews of Life-boats .. .. .. 1,854 16 4 Carried forward 123,4651952 £ s. d.

7,368 14 1 6,184 14 6 20,774 17 1 14,339 3 1 45,670 11 - 151,191 6 - 2,175 - - 375 18 - 12,960 10 6 3,722 8 10 264,763 3 1 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 7,096 14 2 5,294 10 11 21,352 4 7 15,054 18 9 50,419 7 5 150,112 18 9 1,675 - - 339 4 9 13,432 5 6 3,933 19 8 268,711 4 0 5,747 208 11 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 and Whitehills Sevan Reward Fund (per the Charity Commissioners) 6,187 18 1 208 5 - 5,955 16 3 6,396 3 1 52,647 14 3 1,235 10 10 627 9 10 1,863 - 8 S0.784 13 7 5,460 14 5 16,245 8 - 16,964 7 4 INCOME FROM INVESTMENTS :— Dividends and Interest on Investments (less £6,040 Os. 4d. tax) Less— £ s. d.

Interest on certain Trust Funds transferred to Special Purposes Fund 1,310 6 - Interest on certain Endowment Funds transferred to General Subscriptions, etc. (in accordance with the directions of the respective donors) 632 9 10 52,485 1 Income Tax recovered on Dividends Carried forward 1,942 15 10 50,542 5 10 5,615 8 5 56,157 9 3 331,264 16 101952 £ s.

588,213 - 14,318 7 4,551 14 1,930 17 1,371 10 22,172 2,608 24,168 2,937 2,960 1,589 2,161 3,518 1,142 1,729 40,208 20,104 20,104 5,910 393 1,101 216 27,726 559 3 593 2,327 18,243 6,180 196 12,917 29,292 3,957 6,005 1,313 1,740 20,104 102,279 744,226 94,405 132,359 226,765 22,177 248,943 495,283 16,963 £512,246 9 15 3 18 14 6 15 19 4 14 16 8 8 13 15 5 6 8 19 14 3 12 1 8 3 16 17 8 14 10 8 8 8 17 19 9 8 17 5 12 5 17 d.

5 3 3 1 t 2 4 3 2 4 6 9 8 2 5 3 1 2 11 5 6 5 4 2 2 4 8 4 11 1 1 1 11 1 3 EXPENDITURE £ s. d.

Brought forward LIFE-BOAT INSPECTORS:— Salaries of Chief Inspector, Deputy Chief Inspector, Inspectors of Life-boats and Clerical Staff .. .. 15,398 4 9 Travelling Expenses 4,901 9 9 Pensions under the Pension Scheme . . . . . . 1,537 5 4 Contributions to 1938 Pension Scheme .. .. 1,544 2 11 COTTAGES, ETC.: ADMINISTRATION:— £ s. d.

Salaries of Secretary, Assistant Secretary, Accountant, Internal Auditor, and Clerical Staff . . . . . . . . 24,014 3 3 Rent, Depreciation, Rates, Lighting, Heating Insurance, etc., of the House of the Institution .. .. 3,150 14 2 Insurance under National Insurance Acts and against claims at Common Law . . 3,232 12 2 Telephone Operator, Commissionaires and Nightwatchman . . . . . . 1,633 2 3 Telephones, Postages and Parcels . . 2,077 5 1 Pensions under the Pension Scheme . . 1,456 2 4 Travelling and other Expenses of Chairman and Committee of Management 1,168 16 9 Contributions to 1938 Pension Scheme 1,744 14 3 38,477 10 3 Less estimated amount chargeable to raising of funds and publicity . . 19,238 15 1 19,238 15 2 Stationery, Office Expenses, Printing and Books . . 6,118 15 3 Auditors' Fee . . . . . . . . . . . 472 10 - Law Expenses . . . 1,817 8 6 Repairs and Improvements to the House of the Institution 811 - 2 GRANTS IN CONNEXION WITH CERTAIN GENERAL LEGACIES EXPENSES OF CONFERENCE OF LIFE-BOAT SOCIETIES . . . .

FESTIVAL OF BRITAIN :— Exhibits at South Bank and on S.S. Campania EXPENSES CONNECTED WITH RAISING OF FUNDS AND PUBLICITY: Salaries of Publicitv Secretary, Assistant and Clerical Staff " " 2,847 4 3 Salaries of District Organizing Secretaries and Clerical Staff 18,213 17 10 Travelling expenses of District Organizing Secretaries 5,;!35 - 2 Annual General Meeting . . . . . . . . . . 245 - 1 1 Advertising and Appeals . . . . 9,869 15 9 Stationery, Printing, Books, Films, Badges, Collecting Boxes, Postages . . . . . . . . . . . 26,001 14 6 Printing and Binding the Annual Report and Life-boat Journal . . . . . . . . . . . 3,700 5 8 Salaries and Commissions of Assistant Secretaries, etc., of Branches . . . . 6,132 1 3 Pensions under the Pension Scheme . . . . . . 1,905 7 2 Contributions to 1938 Pension Scheme . . . . 1,530 7 7 Estimated proportion of Administration Expenses as above 19,238 15 1 Total Expenditure Deduct : — Expenditure on new Life-boats included in this account borne by: — Gifts and Legacies for special purposes . . . . 42,698 16 10 Reserve for Replacement of Life-boats .. .. 141,365 7 5 4 184,064 4 3 3 ! Other expenditure included in this account borne 7 4 3 7 J f 6 . . . . . . .

Transfer to General Purposes Fund being excess of income for general purposes over expenditure, not borne by special funds £ s.

565,012 - 23,381 2 1,826 5 28,458 9 543 10 2,000 - 95,019 10 716,240 17 218,714 - 497,526 17 12,000 8 £509,527 61952 £ s. d.

i'26,964 7 4 10,895 4 1 817 15 11 11,713 - - !38,677 7 4 INCOME Brought forward SUNDRY RECEIPTS :— Sale of old Stores Rentals of Freehold and Leasehold Premises ..

Total Ordinary Income £ s. d.

5,672 17 10 805 13 6 !73,5G9 10 3 LEGACIES FOR GENERAL PURPOSES ..

£ s. d.

331,264 16 10 6,478 11 4 337,743 8 2 271,783 18 - J12,240 17 7 TOTAL INCOME FOR GENERAL PURPOSES 609,527 6 2 009,527 6 2 Gifts and Legacies for Special purposes transferred to Funds:— £ s. d.

General Endowment:— 611 3 i Legacies 1,089 8 9 - - - ! Special Gifts 1,100 - - 6 11 3 59,490 5 10 67,904 9 2 L27.434 15 - r39.708 3 10 312,240 17 7 100,000 - - 512,216 17 7 2,189 8 9 Special Purposes and Maintenance:— Legacies 144,811 17 6 Special Gifts 18.511 1 - 163,322 18 6 Total Income . . 775,039 13 5 Deduct:— Amount transferred to Reserve for Replacement of Life-boats 100,000 - - 509,527 6 2 NOTE.—This account includes the receipts and disbursements of the Headquarters of the Institution for the year to 31st December, 1953, and of the Branches for the year to 30th September, 1953.

512,246 17 7 £509,527 6 21952 £ s. d.

857 2 10 Dr. GENERAL ENDOWMENT Ft The Income to be applied for the purposes of the Institi £ i To TRANSFER TO GENERAL PURPOSES FUND ON FULFILMENT OF TRUST 240,331 3 5 , , BALANCE AT 31ST DECEMBER, 1953 242,520 1 £241,188 6 3 £242,520 V.

Dr. SPECIAL PURPOSES AND MAINTENANCE FU The Capital to be applied for the purposes of the InstiHi 94,405 19 22,177 17 278 16 125,052 3 148 15 930 18 217,842 15 To DEFRAY EXPENDITURE AS SHEWN IN INCOME AND EXPENDITURE ACCOUNT :— ON NEW LIFE-BOATS ON OTHER PURPOSES ,, TRANSFERS FOR EXPENDITURE PREVIOUSLY CHARGED AGAINST OTHER FUNDS:— GENERAL PURPOSES FUND RESERVE FOR REPLACEMENT OF LIFE-BOATS „ TRANSFER TO GENERAL PURPOSES FUND ON FULFILMENT OF TRUST ,, GRANTS IN CONNEXION WITH CERTAIN TRUST LEGACIES ,, BALANCE AT 31si DECEMBER, 1953 42,698 1( 34,649 K 6,(i20 - 49.385 IE 9,731 IS 034 1 238.455 7 £460,837 4 10 Dr. GENERAL PURPOSES FU1 £ 3.

4,846 19 3 j To PROVISION FOR ADDITIONAL LIABILITY, 1909 PENSION SCHEME 609 17 - 2,694 - - 441,401 11 8 £449,552 7 11 226,765 8 4 94,405 19 1 132,359 9 3 982,441 16 5 £1,114,801 5 8 ,, Loss ON SALE OF INVESTMENTS ., DEPRECIATION ON REVALUATION OF POST WAR CREDITS „ DISCHARGE OF HARBOUR COMMISSIONERS BOND ,, BALANCE AT 31ST DECEMBER, 1953 3,616 2 3,236 19 470,740 14 £477,503 16 Dr. RESERVE FOR REPLACEMENT OF LIFE-BOAT To EXPENDITURE ON NEW LIFE-BOATS LeSS BORNE BY SPECIAL PURPOSES AND MAINTENANCE FUND BALANCE AT 31ST DECEMBER, 1953 184,064 4 42,698 16 141,365 7 990,462 8 £1,131,827 161952 £ s. d.

141,181 15 - 6 11 3 Ml,188 6 3 31st December, 1953.

in accordance with the directions of the respective Donors.

By BALANCE AT 31ST DECEMBER, 1952 „ LEGACIES AND SPECIAL GIFTS (INCOME ONLY AVAILABLE) RECEIVED IN THE YEAR: £ s. d.

Legacies 1,089 8 9 Special Gifts 1,100 - - Cr.

£ s. d.

240,331 3 5 2,189 8 9 j 31st December, 1953.

in accordance with the directions of the respective Donors.

132,146 19 - By BALANCE AT 31ST DECEMBER, 1952 ,, LEGACIES AND GIFTS FOR SPECIAL PURPOSES (CAPITAL AVAILABLE) RECEIVED IN THE YEAR :— £ *. d.

59.490 5 10 Legacies .. .. .. .. .. 144,811 17 6 7.964 9 2 Special Gifts .. .. .. .. ..18.511 1 - "277454 15 - 1,235 10 10 Mil).837 4 10 INTEREST ON UNEXPENDED BALANCES OF CERTAIN SPECIAL TRUST FUNDS 31st December, 1953.

131,304 8 2 By BALANCE AT 31ST DECEMBER, 1952 - - - | ,, PROFIT ON SALE AND REDEMPTION OF INVESTMENTS 857 2 10 ' „ TRANSFER FROM GENERAL ENDOWMENT FUND : ,, TRANSFERS FROM SPECIAL PURPOSES AND MAINTENANCE FUND AS ABOVE 427 11 8 10,963 5 3 .49,552 7 11 ,, TRANSFER FROM INCOME AND EXPENDITURE ACCOUNT £242,520 12 2 Cr.

£ s. d.

217,842 15 0 163,322 18 0 1,310 6 - £382.476 - - Cr.

£ s. d.

441,401 11 8 7,839 17 - 16,351 19 - 12,000 8 8 £477,593 16 4 31st December, 1953.

189,749 2 6 By BALANCE AT 31ST DECEMBER, 1952 ,, TRANSFER FROM SPECIAL PURPOSES AND MAINTENANCE FUND AS 25,052 3 2 | ABOVE 00,000 - - ! „ TRANSFER FROM INCOME AND EXPENDITURE ACCOUNT 14,801 5 8 Cr.

£ s. d.

982,441 16 5 49,385 19 9 100,000 - - £1,131,827 16 21952 £ s. d. I 240,331 3 5 217,842 15 6 982,441 16 5 441,401 11 8 GENERAL ENDOWMENT FUND (Income available in accordance with the directions of the respective Donors) SPECIAL PURPOSES AND MAINTENANCE FUND (Capital to be applied in accordance with the directions of the respective Donors) RESERVE FOR REPLACEMENT OF LIFE-BOATS The estimated cost of replacing the entire Fleet exceeds £3,000,000 and the estimated liability for replacements at present contemplated exceeds £1,000,000, part of which will be met by Special Gifts and Legacies.

GENERAL PURPOSES FUND Of this Fund £122,584 relates to Freehold and Leasehold Properties necessary to the Institution's work. The balance of £348,156 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 £100,000 and provision of new Tractors £40,000.

£1,882.017 7 - £1.942.179 2 (Signed) GODFREY RARING Chairman.

(Signed) A. D. BURNETT BROWN Secretary.

Ve have examined the above Statement, also the Income and Expenditure Account a correct and in accordance therewith. We have also verified the Investmei 8 Frederick's Place, Old Jewry, London, E.C.2.

19th February, 1954.1952 £ s. d.

INVESTMENTS at Valuation on 31st Dec., 1951, or cost if acquired since.

s. d.

34,736 17 2 5,594 6 3 40,331 3 5 05,898 15 3 36,512 13 8 57,859 8 8 22,870 8 10 23041 6 5 33,472 9 10 GENERAL ENDOWMENT FUND—Income only available: British Government Securities .. .. .. 236,926 5 11 British Corporation Stocks 5,594 6 3 242,520 12 2 (Market value at 31st Dec., 1953, £257,422 14 1).

OTHER FUNDS :— British Government Securities Colonial Government Securities British Corporation and Public Boards Stocks Sundrv Small Investments ..1,241,375 10 9 .. 36,512 13 8 . . 159.810 3 11 24.903 2 3 35,256 7 2 (Market value at 31st Dec., 1953, £1,537,471 1 11) Total Investments (Market value at 31st Dec.. 195;!, £1,794,893 16 0) FREEHOLD PREMISES (At cost):— Including Life-boat Depot at Boreham Wood 1,402,601 10 7 1,705,122 2 9 80,453 13 5 LEASEHOLD PREMISES—(At cost less amounts written off) :— 36,409 9 1 ; Including 42/44 Grosvenor Gardens 30,131 5 11 BRANCH ACCOUNTS:— Balances in hands of Branches, 30th Sept., 1953 .. 75,356 17 1 17,900 16 8 '.9,852 10 - !6,9G6 10 11 !2,017 7 - Less Balance of Remittances between Headquarters and Branches, October to December, 195:! 42,914 8 5 CASH AT BANKERS:— On Current Account On Deposit . .

. . 12,029 11 4 . . 70.000 - - 32,412 8 82.029 11 4 £1,942,179 2 1 Accounts of the Funds with the Books and Vouchers and find the same to be 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 1953 £ s. d.

30 13 4 __________ New Construction.

34 10 0 i__j_______________i Maintenance of Lifeboats and Stations (including Depot).

17 4 9 ________ Payments to Life-boat Crews.

4 1 0 •_ Administration.

13 10 11 _____ Raising of Funds and Publicity at Headquarters and 1,049 Branches.

£100 0 0 Its Income at a Glance How each £100 of the Institution's Income was obtained in 1953 £ s. d.

15 8 4 ________ Subscriptions, Donations, C o l l e c t i n g Boxes.

13 7 0 ____ Life-boat Days and House-to-House Collections.

5 7 9 __ Other Special Efforts.

1 6 9 w Boat-house Collections.

7 5 0 ___ Income from Investments.

53 17 10 ____._____»__________—___- Legacies.

2 10 7 mm Special Gifts.

16 9 • Other Sources.

£100 0 0.