1956 £ 185,858 286 40,479 9,808 386 42,575 12,631 2,596 3,360 61,162 2,571 58,591 295,408 4,205 731 744 2,571 8,251 12,416 38,444 50,860 50,360 9,315 47,145 1,574 967 1,409 60,410 24,072 4,460 328 28,860 494,149 PAYMENTS LIFE-BOATS :— New Life-boats for the following Stations : On account — Angle, Arbroath, Barra Island, Berwick-upon-Tweed, Cromarty, Dungeness, Fishguard, Mallaig, Moelfre, Thurso, Torbay, Troon, Valentia, Weymouth, Wicklow ; 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 . .

£ s. d.

Salaries of Superintendent Engineer, Surveyor of Life-boats, Inspectors of Machinery, Assistant Surveyors of Life-boats and Machinery, Draughtsmen and Clerical Staff 45,766 8 2 Travelling Expenses .. .. 13,94017 6 Pensions under the Pension Scheme 2,676 14 4 Contributions to 1938 Pension Scheme 3,638 9 6 66,022 9 6 Less estimated amount chargeable to Life-boat carriages and tractors 2,804 - - LIFE-BOAT CARRIAGES AND TRACTORS :— New Carriages Repairs to Life-boat Carriages Repairs to Tractors Estimated proportion of Life-boats expenses as above LIFE-BOAT HOUSES AND SLIPWAYS :— New Construction and Adaptation Repairs and Maintenance Gratuity 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 Pensions and Gratuities under the Pension Schemes Contributions to 1938 Pension Scheme Provision for additional liability, 1909 Pension Scheme PAYMENTS IN CONNEXION WITH LIFE-BOAT STATIONS :— Conveyance of Life-boats, Carriages, Tractors and Stores ; Work to Moorings ; Telephones ; Postages, etc.

Insurance under National Insurance Acts and against claims at Common Law Salaries of Assistant Secretaries, etc., of Stations Carried forward £ 244,544 295 38,147 16,364 87 63,218 9,968 652 599 2,804 33,776 28,628 50 9,964 50,591 2,111 1,141 852 25,679 5,352 311 s.

13 13 12 18 1 9 5 13 6 13 5 17 16 19 18 13 6 13 d. £ 7 7 6 9 4 6 362,658 7 10 9 14,024 6 6 62,455 56,669 7 4 4 11 11 64,662 7 3 4 31,343 591,813 s.

9 If 1; - 1956 RECEIPTS £ SUBSCRIPTIONS, DONATIONS, ETC. :— £ s. d.

8,488 General Subscriptions to Headquarters .. .. 7,998 8 3 5,785 „ „ through Station Branches .. 6,304 3 - 25,403 „ „ through Financial Branches 25,516 5 3 25,778 „ Donations to Headquarters .. .. 21,8171911 52,590 „ „ through Station Branches .. 70,385 - 5 )5,655 „ „ through Financial Branches .. 206,644 - 8 Contributions from Harbour Authorities towards 1,800 upkeep of Life-boat Stations 1,800 - - 304 Contribution Boxes to Headquarters .. .. 322 11 22,704 „ „ through Station Branches .. 21,361 5 9 6,717 „ „ through Financial Branches .. 7,189 9 4 55,224 s. d.

369,339 4 1 5,725 CIVIL SERVICE LIFE-BOAT FUND :— Contribution in respect of the following Life-boat Establishments : Blyth, Hartlepool, Holyhead, Margate, Portrush, Port St. Mary, St. David's, Southend-on-Sea, Thurso, Walmer and Whitehills 5,994 8 7 70,949 Carried forward £375,333 12 8 1956 £ 494,149 14,204 945 106,630 9,884 4,570 7,644 3,003 146,880 , suy 4,276 1,191 1,806 25,082 4,647 31,419 3,512 3,987 1,751 2,218 810 1,174 2,290 3,546 50,707 25,353 25,354 7,014 473 2039 766 35,646 706,404 PAYMENTS £ s. d.

Brought forward 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 . . . . 13,416 - 1 Grants to men injured in the Life-boat service . . 901 12 10 Fees of Coxswains, Bowmen and Signalmen, Wages of Motor Mechanics, etc 120,285 5 1 Payments to Life-boat Crews and Launchers for exercises 9,378 19 7 Annuities and Gratuities under the Regulations to Coxswains, Bowmen, Signalmen, Part Time and Assistant Motor Mechanics .. .. .. 4,611 18 6 Pensions and Grants to Relatives of deceased Lifeboatmen and others .. .. .. .. 9,392 13 2 Pensions and Gratuities under the Pension Scheme to Ex-permanent Crews ot Life-boats . . . . 3,262 - 2 LIFE-BOAT INSPECTORS :— Salaries of Chief Inspector, Deputy Chief Inspector, Assistant Chief Inspector, Inspectors of Lifeboats and Clerical Staff 20,338 5 5 Travelling Expenses .. .. .. .. .. 4 , 8 3 5 5 3 Pensions under the Pension Scheme .. .. 1,273 11 10 Contributions to 1938 Pension Scheme .. .. 2,00613 8 RATES AND REPAIRS OF MECHANICS' COTTAGES, ETC.

£ s. d.

ADMINISTRATION :— Salaries of Secretary, Assistant Secretary, Accountant, Internal Auditor, and Clerical Staff 36,083 5 6 Rent, Depreciation, Rates, Lighting, Heating, Insurance, etc., of the House of the Institution . . . . 3,554 10 5 Insurance under National Insurance Acts and against claims at Common Law 4,214 12 - Telephone Operator, Commissionaires and Nightwatchman .. .. 1,970 2 1 Telephones, Postages and Parcels .. 2,35713 2 Travelling Expenses of Committee of Management 765 8 8 Pensions under the Pension Scheme . . 1,216 3 8 Contributions to 1938 Pension Scheme 2,686 8 6 Provision for additional liability, 1909 Pension Scheme 2,624 14 10 55,472 18 10 Less estimated amount chargeable to raising of funds and publicity . . 27,736 9 5 27,736 9 5 Stationery, Office Expenses, Printing and Books .. 7,861 18 4 Auditor's Fee 472 10 - Law Expenses . . . . . . . . . . 1,408 14 4 Repairs and Improvements to the House of the Institution .. .. .. .. .. 1,533 - 11 Carried forward £ s.

591,813 - 161,248 9 28,45 3 16 2,700 6 39,012 13 £823,228 5 RECEIPTS Brought forward INCOME FROM INVESTMENTS :— Dividends and Interest on Investments (Less £2,833 15 1 tax) Less— £ s. d.

Interest on certain Trust Funds transferred to Special Purposes Fund 1,058 - - Interest on certain Endowment Funds transferred to General Subscriptions, etc. (in accordance with the directions of the respective donors) 650 9 10 Income Tax Recovered on Dividends SUNDRY RECEIPTS :— Sale of old Stores Rentals of Freehold and Leasehold Premises s. d.

69,370 11 10 £ s. d.

375,333 12 8 1,708 9 10 67,662 2 - 1,976 8 2 4,469 11 - 887 4 9 69,638 10 2 5,356 15 9 Total Ordinary Receipts £450,328 18 7 Carried forward £450,328 18 7 1956 £ 706,404 590 7,356 20,763 4,594 214 9,226 30,752 4,602 9,331 1,613 2,392 4,292 25,353 120,488 827,482 65,361 120,497 185,858 44,852 230,710 596,772 107,376 £704,148 PAYMENTS Brought forward GRANTS IN CONNECTION WITH CERTAIN LEGACIES s. d. £ s.

823,228 5 725 3 EXPENSES CONNECTED WITH RAISING OF FUNDS AND PUBLICITY :— Salaries of Publicity Secretary, Assistant and Clerical Staff and Wages of Manual Workers .. 8,082 1 2 Salaries of District Organizing Secretaries and Clerical Staff 24,336 15 1 Travelling expenses 5,147 17 10 Annual General Meeting 216 19 10 Advertising and Appeals 15,961 15 1 Stationery, Printing, Books, Films, Badges, Collecting Boxes, Postages 30,787 2 6 Printing and Binding the Year Book and Life-boat Journal 4,488 14 - Salaries and Commissions of Assistant Secretaries, etc., of Branches 9,654 - - Pensions under the Pension Scheme .. .. 1,718 18 - Contributions to 1938 Pension Scheme .. .. 2,239 18 5 Provision for additional liability 1909 Pension Scheme 2,781 9 11 Estimated proportion of Administration Expenses as above 27,736 9 5 Total Payments Deduct:— Expenditure on new Life-boats included in this account borne by :— Gifts and Legacies for special purposes .. .. 75,780 19 6 Reserve for Replacement of Life-boats .. .. 168,763 14 1 244,544 13 7 Other expenditure included in this account borne by Special Gifts and Legacies 39,815 16 1 Balance not otherwise appropriated transferred to General Purposes Fund £756,590 15 RECEIPTS Brought forward LEGACIES FOR GENERAL PURPOSES s. d. £ s. d.

450,328 18 7 406,261 17 3 TOTAL RECEIPTS FOR GENERAL PURPOSES .. 856,590 15 10 856,590 15 10 Gifts and Legacies for Special purposes transferred to Funds :— £ s. d.

General Endowment :— Legacies 3,870 19 - Special Gifts 1,683 3 - 5,554 2 Special Purposes and Maintenance :— Legacies 87,071 12 - Special Gifts 48,631 5 4 135,702 17 4 Total Receipts .. £997,847 15 2 Deduct :— Appropriation to Reserve for Replacement of Life-boats NOTE.—This account includes the receipts and payments of the Headquarters of the Institution for the year to 31st December, 1957, and of the Branches for the year to 30th September, 1957.

100,000 - - 756,590 15 10 £756,590 15 10 1956 £ 31,905 217,242 £249,147 65,361 44,852 32,664 37 878 259,944 £403,736 185,858 65,361 120,497 1,029,718 £1,150,215 184,563 537,889 £722,452 GENERAL ENDOWMENT FUN The Income to be applied for the purposes of the Institute £ s.

Loss ON SALE OF INVESTMENTS .. 11,367 19 Depreciation on Valuation of Investments at ? st December, 1956 .. — — BALANCE AT 31 ST DECEMBER, 1957 228,022 5 £239,390 4 SPECIAL PURPOSES AND MAINTENANCE FUN The Capital to be applied for the purposes of the Institut EXPENDITURE AS SHEWN IN ACCOUNT OF RECEIPTS AND PAYMENTS :— on NEW LIFE-BOATS on OTHER PURPOSES REFUND TO RESERVE FOR REPLACEMENT OF LIFE-BOATS FOR EXPENDITURE PREVIOUSLY CHARGED AGAINST THAT FUND TRANSFER TO GENERAL PURPOSES FUND ON FULFILMENT OF TRUST ..

GRANTS IN CONNEXION WITH CERTAIN TRUST LEGACIES TRANSFER TO GENERAL ENDOWMENT FUND ON INCOME BECOMING SUFFICIENT TO CARRY OUT TRUST BALANCE AT 31sT DECEMBER, 1957 75,780 19 39,815 16 27,401 - 1,183 9 605 15 16,594 - 235,323 17 £396,704 19 RESERVE FOR REPLACEMENT OF LIFE-BOAT EXPENDITURE ON NEW LIFE-BOATS Less BORNE BY SPECIAL PURPOSES AND MAINTENANCE FUND BALANCE AT 31ST DECEMBER, 1957 244,544 U 75,780 19 168,763 14 988,355 11 £1,157,119 5 GENERAL PURPOSES FUN! Loss ON SALE AND REDEMPTION OF INVESTMENTS Loss ON SALE OF FREEHOLD PREMISES Depreciation on Valuation of Investments at 31 st December, BALANCE AT 31sT DECEMBER, 1957 1956 £ s.

4,574 14 288 1 618,055 8 £622,918 3 31st December, 1957 in accordance with the directions of the respective Donors.

BALANCE AT 31sT DECEMBER, 1956 LEGACIES AND SPECIAL GIFTS (INCOME ONLY AVAILABLE) RECEIVED IN THE YEAR :— £ s. d.

Legacies 3,870 19 - Special Gifts 1,683 3 - TRANSFER FROM SPECIAL PURPOSES AND MAINTENANCE FUND AS BELOW £ s. d.

217,242 2 - 5,554 2 - 16,594 - 8 £239,390 4 8 31st December, 1957.

in accordance with the directions of the respective Donors.

BALANCE AT 31sT DECEMBER, 1956 LEGACIES AND GIFTS FOR SPECIAL PURPOSES (CAPITAL AVAILABLE) RECEIVED IN THE YEAR :— £ s. d.

Legacies 87,071 12 - Special Gifts 48,631 5 4 INTEREST ON UNEXPENDED BALANCES OF CERTAIN SPECIAL TRUST FUNDS 259,944 1 9 135,702 17 4 1,058 - - £396,704 19 1 31st December, 1957.

BALANCE AT 31 sr DECEMBER, 1956 REFUND FROM SPECIAL PURPOSES AND MAINTENANCE FUND AS ABOVE .

APPROPRIATION FROM ACCOUNT OF RECEIPTS AND PAYMENTS £ 1,029,718 27,401 100,000 s. d.

5 3 - 7 £1,157,119 5 10 31st December 1957 BALANCE AT 31sT DECEMBER, 1956 Profit on Sale and Redemption of Investments Redemption of Post War Credits TRANSFER FROM SPECIAL PURPOSES AND MAINTENANCE FUND AS ABOVE TRANSFER FROM ACCOUNT OF RECEIPTS AND PAYMENTS £ s. d.

537,888 18 1 1,183 9 6 83,845 15 8 £622,918 3 3 1956 £ 217,242 259,944 £1,029,718 537,889 £2,044,793 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 £4,500,000 and the estimated liability for replacements at present contemplated exceeds £800,000, part of which will be met by Special Gifts and Legacies.

GENERAL PURPOSES FUND Of this Fund £129,314 relates to Freehold and Leasehold Properties necessary to the Institution's work. The balance of £488,741 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 Lifeboat 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 £150,000 and provision of new Carriages £65,000.

228,022 235,323 1' 988,355 1 618,055 ! £2,069,757 • (Signed) HOWE, Chairman.

(Signed) A. D. BURNETT BROWN, Secretary.

We have examined the above Statement, also the Account of Receipts and Payments correct and in accordance therewith. We have also verified the Investment 3 Frederick's Place, Old Jewry, London, E.C.2.

25th February, 1958.

INVESTMENTS at quinquennial valuation on 31st Dec., 1956, or cost if acquired since :— Representing GENERAL ENDOWMENT FUND— Income only available :— British Government Securities (Market value at 31st Dec., 1957, £225,673) Representing OTHER FUNDS :— British Government Securities .. .. 1,424,823 14 JO Dominion Government Securities . . 30,755 18 - British Corporation and Public Board Stocks 129,910 2 - Sundry Small Investments 44,665 13 8 s. d.

228,022 5 7 (Market value at 31st Dec., 1957, £1,555,229).

TOTAL INVESTMENTS (Market value at 31st Dec., 1957, £1,780,902) FREEHOLD PREMISES (At cost) :— Including Life-boat Depot at Boreham Wood LEASEHOLD PREMISES — (At cost less amounts written off) :— Including 42/44 Grosvenor Gardens BRANCH ACCOUNTS :— Balances in hands of Branches, 30th Sept., 1957 116,999 13 11 Less Balance of Remittances between Headquarters and Branches, October to December, 1957 ..61,958 4 6 BANK BALANCES 1,630,155 8 6 1,858,177 14 1 93,361 8 4 35,952 11 7 55,041 9 5 27,223 19 9 £2,069,757 3 2 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,.