ITS PAYMENTS AT A GLANCE How each £100 of the Institution's payments was made in 1958 £ s. d.

27 2 4 — — — New construction 36 16 1 — - —- —•- ———- Maintenance of life-boats and stations (including depot) 17 3 10 —— — Payments to life-boat crews 4 7 8 — Administration 14 10 1 ———• Raising of funds and publicity at headquarters and over 1,000 branches £100 0 0 ITS RECEIPTS AT A GLANCE How each £100 of the Institution's receipts was obtained in 1958 £ s. d.

13 10 11 —— — Subscriptions, donations, collecting boxes 12 16 11 —— — Life-boat days and house-to-house collections 6 2 9 — Other special efforts 1 12 1 •• Boat-house collections 7 0 10 •—— Income from investments 49 11 11 —- —' Legacies 8 1 1 1 1 — Special gifts 12 8 • Other sources £100 0 0 STATEMENT RECEIPTS AND PAYMENTS—1st Jan. to 31st Dec., 1958 1957 £ 244,544 296 38,148 16,365 87 45,766 13,941 2,677 3,638 66,022 2,804 63,218 362,658 9,968 652 600 2,804 14,024 33,776 28,629 50 62,455 56,669 9,964 50,592 2,112 1,142 853 64,663 25,680 5,352 312 31,344 £91,813 PAYMENTS LIFE-BOATS New Life-boats for the following Stations : On account— Aberdeen, Aldeburgh, Barra Island, Berwick-on- Tweed, Dunbar, Dungeness, Lerwick, Mallaig, Scarborough, Thurso, Torbay, Walmer, Weymouth, 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 Pensions under the Pension Scheme ..

Contributions to 1938 Pension Scheme Less estimated amount chargeable to Life-boat carriages and tractors 46,972 14,475 3,092 3,755 68,294 2,888 LIFE-BOAT CARRIAGES AND TRACTORS New Carriages Repairs to Life-boat Carriages Repairs to Tractors Estimated proportion of Life-boat 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 214,338 368 40,455 19,304 86 65,406 19,246 1,0)7 574 2,888 31,543 38,737 339,957 23,72! 70,28( 53,76! 10,627 52,064 2,637 1,455 1,168 67,95 28,300 5,343 267 33,91 £589,58 UNTS RECEIPTS AND PAYMENTS— 1st Jan. to 31st Dec., 957 £ 7,998 6,304 5,516 1,818 0,385 6,644 1,800 323 1,361 7,190 RECEIPTS 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 . .

1958 £ £ 8,578 5,893 25,882 17,811 67,472 217,559 1,800 296 22,846 7,510 9,339 375,647 5,994 CIVIL SERVICE LIFE-BOAT FUND Contribution in respect of the following Life-boat Establishments : Blyth, Hartlepool, Holyhead, Margate, Portrush, St. David's, Southend-on-Sea, Thurso, Walmer and Whitehills 6,220 5,333 Carried forward £381,867 RECEIPTS AND PAYMENTS— 1st Jan. to 31st Dec., 1958 1957 £ 591,813 PAYMENTS £ Brought forward . .

STATEMENT £ 589,584 13,416 901 120,285 9,379 4,612 9,393 3,262 161,248 20,338 4,835 1,274 2,007 28,454 2,700 36,083 3,554 4,215 1,970 2,358 765 1,216 2,686 2,625 55,472 27,736 27,736 7,862 473 1,409 1,533 39,OJ3 725 £823,953 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 .. .. .. 13,420 Grants to men injured in the Life-boat service .. 1,201 Fees of Coxswains, Bowmen and Signalmen, Wages of Motor Mechanics, etc. .. .. .. .. 124,520 Payments to Life-boat Crews and Launchers for exercises 10,002 Annuities and Gratuities under the Regulations to Coxswains, Bowmen, Signalmen, Part Time and Assistant Motor Mechanics .. .. .. .. 4,403 Pensions and Grants to Relatives of deceased Lifeboatmen and others .. .. .. .. .. 10,895 Pensions and Gratuities under the Pension Scheme to Ex-permanent Crews of Life-boats .. .. 3,667 LIFE-BOAT INSPECTORS Salaries of Chief Inspector, Deputy Chief Inspector, Assistant Chief Inspector, Inspectors of Life-boats and Clerical Staff 20,542 Travelling Expenses .. .. .. .. .. 6,075 Pensions under the Pension Scheme .. .. .. 1,778 Contributions to 1938 Pension Scheme 2,309 RATES AND REPAIRS OF MECHANICS' COTTAGES, ETC £ ADMINISTRATION Salaries of Secretary, Assistant Secretary, Personal Assistant to Secretary, Accountant, Internal Auditor, and Clerical Staff 40,923 Rent, Depreciation, Rates, Lighting, Heating, Insurance, etc., of the House of the Institution .. .. 3,673 Insurance under National Insurance Acts and against claims at Common Law Telephone Operator, Commissionaires and Nightwatchman Telephones, Postages and Parcels Travelling Expenses of Committee of Management Pensions under the Pension Scheme Contributions to 1938 Pension Scheme Provision for additional liability, 1909 Pension Scheme Less estimated amount chargeable to raising of funds and publicity 5,944 2,202 2,904 782 403 3,283 1,520 61,634 30,817 Stationery, Office Expenses, Printing and Books Auditors' Fee Law Expenses Repairs and Improvements to the House of thelnstitution Grants in connexion with certain Legacies Carried forward ..

168,103 30,704 4,713 30,817 7,702 630 1,411 1,498 42,0$ 8Z £835,98 RECEIPTS AND PAYMENTS—1st Jan. to 31st Dec., 1958 RECEIPTS Brought forward INCOME FROM INVESTMENTS Dividends and Interest on Investments (Less £5,382 tax) Less :— £ Interest on certain Trust Funds transferred to Special Purposes Fund 439 Interest on certain Endowment Funds transferred to General Subscriptions, etc. (in accordance with the directions of the respective donors) .. .. .. 659 Income Tax Recovered on Dividends 75,303 1,098 74,205 4..581 £ 381,867 78,786 SUNDRY RECEIPTS Sale of old Stores Rentals of Freehold and Leasehold Premises 6,242 816 7,058 Total Ordinary Receipts 467,711 Carried forward £467,711 RECEIPTS AND PAYMENTS—1st Jan. to 31st Dec.. 1958 STATEMENT 1957 £ 823,953 8,082 24,337 5,148 217 15,962 30,787 4,489 9,654 1,719 2,240 2,781 27,736 133,152 957,105 5,554 20,106 135,703 115,597 20,106 100,000 244,544 75,781 168,763 Cr. (68,763) 83,846 £1,066,611 PAYMENTS Brought forward EXPENSES CONNECTED WITH RAISING OF FUNDS AND PUBLICITY Salaries of Publicity Secretary, Assistant and Clerical Staff and Wages of Manual Workers Salaries of District Organizing Secretaries and Clerical Staff Travelling Expenses Annual General Meeting Advertising and Appeals Stationery, Printing, Books, Films, Badges, Collecting Boxes, Postages Printing and Binding the Year Book and Lifeboat Journal Salaries and Commissions of Assistant Secretaries, etc., of Branches Pensions under the Pension Scheme Contributions to 1938 Pension Scheme Provision for additional liability 1909 Pension Scheme Estimated proportion of Administration Expenses as above Total Payments Transfer to General Endowment Fund being the amount of the year's receipts of gifts and legacies for endowment purposes Transfer to Special Purposes and Maintenance Fund being the excess of the year's receipts for special purposes over payments in the year met from special gifts, etc.

arrived at as follows : Receipts in year of gifts and legacies for special purposes Less payments in year met from gifts and legacies for special purposes (of which £124,540 relates to new life-boats and £54,155 to other items) Transfer to Special Purposes, etc. Fund Transfer to Reserve for Replacement of Life-boats being the excess of the estimated average annual cost falling to be met from general purposes receipts over the payment on account of new life-boats in the year not met from special gifts, etc.

arrived at as follows : Estimated average annual cost of replacements falling to be met from general purposes receipts Deduct payments on account of new life-boats in the year .. .. 214,338 Less amount met from gifts and legacies for special purposes .. 124,540 Transfer to Reserve (1957 Cr. see contra) Balance transferred to General Purposes Fund 8,990 27,136 6,733 275 12,731 33,645 5,510 9,006 1,893 3,479 1,591 30,817 228,525 178,695 £49,830 £ 835,988 141,806 977,794 6,673 49,830 10,20J 100,000 89,798 £10,202 )UNTS RECEIPTS AND PAYMENTS—1st Jan. to 31st Dec., 1958 RECEIPTS Brought forward ..

LEGACIES FOR GENERAL PURPOSES £ 467,711 415,775 TOTAL RECEIPTS FOR GENERAL PURPOSES 883,486 GIFTS AND LEGACIES FOR SPECIAL PURPOSES (The capital to be applied in accordance with the directions of the respective donors).

Special gifts 91,485 Legacies 137,040 GIFTS AND LEGACIES FOR ENDOWMENT PURPOSES (The income therefrom to be applied in accordance with the directions of the respective donors).

Gifts Legacies Total Receipts 4,673 2,000 228,525 6,673 1,118,684 Transfer from Reserve for replacement of lifeboats, (see contra) NOTE :—This account includes the receipts and payments of the Headquarters of the Institution for the year to 31st December, 1958, and of the Branches for the year to 30th September, 1958.

£1,118,684 Dr.

1957 £ 11,368 228,022 £239,390 27,401 1,183 606 16,594 235,324 £281,108 £622,918 GENERAL ENDOWMENT Fl The Income to be applied for the purposes of the Institi £ Loss on Sale of Investments , , ., .. ,, .. .. .. — BALANCE AT 31sx DECEMBER, 1958 234,69f £234,69? SPECIAL PURPOSES AND MAINTENANCE FUND, The Capital to be applied for the purposes of the Institu 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 3 IST DECEMBER, 1958 285,59; £285,59; RESERVE FOR REPLACEMENT OF LIFE-BOAT! 68,763 Transfer to Receipts and Payments Account 8,356 BALANCE AT 31sT DECEMBER, 1958 998,55! £1,057,119 £998,55! GENERAL PURPOSES Fl 4,863 Loss on Sale of Investments and Freehold Premises 618,055 BALANCE AT 31sT DECEMBER, 1958 694,29( £694,291 Cr.

957 £ r,242 j,554 5,594 FOR THE YEAR ENDED 31st DECEMBER, 1958 in accordance with the directions of the respective Donors.

BALANCE AT 31sr DECEMBER, 1957 TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT Transfer from Special Purposes and Maintenance Fund as below £ 228,022 6,673 5,390 £234,695 9,944 0,106 1,058 FOR THE YEAR ENDED 31st DECEMBER, 1958 in accordance with the directions of the respective Donors.

BALANCE AT 31sT DECEMBER, 1957 235,324 TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT .. .. .. 49,830 INTEREST ON UNEXPENDED BALANCES OF CERTAIN SPECIAL TRUST FUNDS 439 1,108 £285,593 9,718 7,401 FOR THE YEAR ENDED 31st DECEMBER, 1958 BALANCE AT 31sT DECEMBER, 1957 Refund from Special Purposes and Maintenance Fund as above TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT 988,356 10,202 7,119 £998,558 7,889 1,183 13,846 FOR THE YEAR ENDED 31st DECEMBER, 1958 BALANCE AT 31sT DECEMBER, 1957 Profit on Sale and Redemption of Investments Transfer from Special Purposes and Maintenance Fund as above TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT 618,055 2,056 74,185 2,918 £694,296 Statement of Funds and Rel 1957 £ 228,022 235,324 988,356 618,055 £2,069,757 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 £5,000,000 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 £129,506 relates to Freehold and Leasehold Properties necessary to the Institution's work. The balance of £564,790 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 £140,000 and provision of new Carriages and Tractors £100,000.

234,695 285,593 998,558 694,296 £2,213,142 (Signed) HOWE, Chairman.

(Signed) A. D. BURNETT BROWN, Secretary, We have examined the above Statement, also the Receipts and Payments Account and correct and in accordance therewith. We have also verified the Investments, 3 Frederick's Place, Old Jewry, London, E.C.2.

13th February, 1959.

, 31st December, 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., 1958, £251,256).

234,695 Representing OTHER FUNDS :— British Government Securities 1 524,050 Dominion Government Securities .. .. .. 30.756 British Corporation and Public Board Stocks .. .. 124,924 Sundry Small Investments .. .. .. .. 57,862 (Market value at 31st Dec., 1958, £1,767,387).

TOTAL INVESTMENTS (Market value at 31st Dec., 1958, £2,018,643) 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., 1958 .. 122,885 Less Balance of Remittances between Headquarters and Branches, October to December, 1958 .. 74,857 BANK BALANCES 1,737,592 1,972,287 94,441 35,065 48,028 63,321 £2,213,142 unts of the Funds with the Books and Vouchers and find the same to be :ted the Deeds of the Properties belonging to the Institution.

(Signed) PRICE WATERHOUSE & CO., Auditors.