RECEIPTS AND PAYMENTS ACCOUN1 PAYMENTS.

LIFE-BOATS:— New Life-boats for the following Stations : On account— 156,764 304 44,343 17,104 Aberdeen, Aldeburgh, Ballycotton, Dunbar, Islay, Lerwick, Newhaven, Penlee, Scarborough, Tees- mouth, Torbay, Walmer, 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 Mailers and Radio Licences Consulting Naval Architect £ 48,640 15,415 3,241 3,813 71,109 2,977 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 Contribution to 1938 Pension Scheme 68,132 Less estimated amount chargeable to Life-boat carriages and tractors 339,957 19,246 1,017 574 2,8 LIFE-BOAT CARRIAGES AND TRACTORS:— New Carriages Repairs to Carriages New Tractors Repairs to Tractors Estimated proportion of Life-boats expenses as above 16,215 477 14,879 650 2,977 286,647 23,725 31,543 38,737 70,280 53,761 10,627 52,064 2,637 1,455 1,168 67,951 28,300 5,343 267 33,910 £589,584 LIFE-BOAT HOUSES AND SLIPWAYS:— New Construction and Adaptation ..

Repairs and Maintenance 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 Contribution to 1938 Pension Scheme Provision for additional liability, 1909 Pension Scheme LIFE-BOAT STATIONS:— Conveyance of Life-boats, Carriages, Tractors and Stores ; Work to Moorings ; Telephones ; Pos- tages, etc.

Insurance under National Insurance Acts and against claims at Common Law Salaries of Assistant Secretaries, etc., of Stations ..

Carried forward 88,756 27,033 13,925 54,721 2,364 1,187 270 29,873 6,925 256 35,198 115,789 53,628 72,467 37,054 £600,783 1958 £ 8,578 5,893 25,882 17,811 RECEIPTS.

SUBSCRIPTIONS, DONATIONS, ETC.:— General Subscriptions to Headquarters „ „ through Station Branches . .

,, „ through Financial Branches „ Donations to Headquarters 67,472 „ „ through Station Branches 217,559 „ ,, through Financial Branches . .

Contributions from Harbour Authorities towards 1,800 upkeep of Life-boat Stations 296 Contribution Boxes to Headquarters 22,846 ,, „ through Station Branches 7,510 „ „ through Financial Branches . .

£ £ 9,459 6,182 26,862 28,903 71,040 217,573 1,800 265 21,484 7,692 391,2601958 £ 589,584 PAYMENTS.

£ Brought forward COXWAINS, MOTOR MECHANICS AND CREWS:— Cost of Wreck Services, including Rewards to Life-boat Crews and others, Special Rewards and Recognitions, 13,420 1,201 124,520 10,002 Medals and Vellums Grants to men injured in the Life-boat Service Fees of Coxswains, Bowmen and Signalmen, Wages of Motor Mechanics, etc.

Life-boat Crews and Launchers for exercises 15,939 1,037 132,312 10,340 Annuities and Gratuities under the Regulations to Coxswains, Bowmen, Signalmen, Part Time and 4,403 Assistant Motor Mechanics 4,545 Pensions and Grants to Relatives of deceased Life- 10,895 boatmen and others 11,290 Pensions and Gratuities under the Pension Scheme 3,667 168,108 to Ex-permanent Crews of Life-boats 3,956 LIFE-BOAT INSPECTORS:— Salaries of Chief Inspector, Deputy Chief Inspector, 20,542 6,075 1,778 2,309 30,704 4,713 40,923 Inspectors of Life-boats and Clerical Staff Travelling Expenses Pensions under the Pension Scheme Contribution to 1938 Pension Scheme . .

19,602 4,615 2,296 1,899 RATES AND REPAIRS OF MECHANICS' COTTAGES, ETC.

ADMINISTRATION :— Salaries of Secretary, £." Assistant Secretary, Personal Assistant to Secretary, Accountant, Internal Auditor, and Clerical Staff Rent, Depreciation, 43,875 Rates, Lighting, Heating, Insurance, etc., of the 3,673 Institution's Headquarters . . . . 3,773 Insurance under National Insurance Acts 5,944 2,202 2,904 782 403 3,283 and against claims at Common Law 5,792 Telephone Operator, Commissionaires and Nightwatchman 2,221 Telephones, Postages Travelling Expenses Management and Parcels . . 3,247 of Committee of 725 Pensions under the Pension Scheme . . 403 Contribution to 1938 Pension Scheme . . 3,542 Provision for Additional Liability, 1909 1,520 61,634 Pension Scheme — 63,578 Less estimated amount chargeable to 30,817 30,817 7,702 630 1,411 1,498 42,058 raising of funds and publicity . . 31,789 Stationery, Office Expenses, Printing and Books Auditors' Fee Law Expenses Repairs and improvements to Institution's headquarters 31,789 7,077 630 1,764 2,545 GRANTS IN CONNEXION WITH CERTAIN 821 LEGACIES CONFERENCE OF LIFE-BOAT SOCIETIES £ 600,783 179,419 28,412 4,601 £835,988 Carried forward 43,805 687 815 £858,52JRECEIPTS.

Brought forward INCOME FROM INVESTMENTS:— Dividends and Interest on Investments (Less £2,600 tax) £ Less :— Interest on certain Trust Funds transferred to Special Purposes Fund 555 Interest on certain endowment funds transferred : (a) to general subscriptions, etc. .. 659 (b) to General Endowment Fund .. 2,477 Income Tax recovered on Dividends SUNDRY RECEIPTS:— Sale of old stores Rentals of Freehold and Leasehold Premises 79,066 3,691 75,375 3,795 8,394 956 £ 391,260 79,170 9,350 Total Ordinary Receipts 479,780 Carried forward £479,7801958 £ 835,988 8,990 27,136 6,733 275 12,731 33,645 5,510 9,006 1,893 3,479 1,591 30,817 141,806 977,794 10,202 100,000 214,338 124,540 89,798 10,202 74,185 £1,118,684 PAYMENTS.

Brought forward 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 Life-boat Journal Salaries and Commissions of Assistant Secretaries, etc. of Branches Pensions under the Pension Scheme Contribution 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 £84,929 relates to new life-boats and £51,173 to other items) Transfer to Special Purposes, etc. Fund Transfer to Reserve for Replacement of Life- oats 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 .. .. 156,764 Less amount met from gifts and legacies for special purposes .. 84,929 Transfer to Reserve Balance transferred to General Purposes Fund (see contra) £ 858,! 9,365 28,090 5,875 265 14,852 31,963 5,683 9,553 2,205 2,913 31,789 142,5 1,001,0 3," 25,1 161,300 136,102 £25,198 28,1 100,000 71,835 £28,165 £1,058,21958 £ 11,491 5,775 '7,266 LEGACIES FOR Total Receipts for RECEIPTS.

Brought forward GENERAL PURPOSES General Purposes £ £ 479,780 328,478 808,258 !0,220 '7,485 !7,040 (4,745 GIFTS AND LEGACIES FOR SPECIAL PURPOSES (The capital to be applied in accordance with the directions of the respective donors).

Civil Service Life-boat Fund 20,827 Special Gifts 81,175 Legacies 59,298 161,300 4,673 2,000 6,673 18,684 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 64 3,700 3,764 973,322 NOTE :—This account includes the receipts and payments of the headquarters of the Institution for the year to 31st December, 1959, and of the Branches for the year to 30th September, 1959.

Transfer from General Purposes Fund .. 84,880 18,684 £1,058,2021958 £ 234,695 £234,695 GENERAL ENDOWMENT FUN The Income to be applied for the purposes of the Instituti £ BALANCE AT 31sx DECEMBER, 1959 258,4 £258,4 285,593 £285,593 998,558 £998,558 SPECIAL PURPOSES AND MAINTENANCE FUN The Capital to be applied for the purposes of the Instituti BALANCE AT 31sT DECEMBER, 1959 311,: £311,: RESERVE FOR REPLACEMENT OF LIFE-BOAT BALANCE AT 31sT DECEMBER, 1959 1,026," £1,026,- GENERAL PURPOSES FUN TRANSFER TO GENERAL ENDOWMENT FUND BEING UNEXPENDED INTEREST ON 694,296 CERTAIN FUNDS TRANSFER TO RECEIPTS AND PAYMENTS ACCOUNT ..

BALANCE AT 31sT DECEMBER, 1959 17,: 84,1 592,: £694,296 £694,1FOR THE YEAR ENDED 31st DECEMBER 1959 in accordance with the directions of the respective Donors.

BALANCE AT 31sr DECEMBER, 1958 TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT TRANSFER FROM GENERAL PURPOSES FUND AS BELOW UNEXPENDED INTEREST ON CERTAIN FUNDS ..

£ 234,695 3,764 17,525 2,477 £258,461 FOR THE YEAR ENDED 31st DECEMBER 1959 in accordance with the directions of the respective Donors.

BALANCE AT 31sT DECEMBER, 1958 TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT INTEREST ON UNEXPENDED BALANCES OF CERTAIN FUNDS 285,593 25,198 555 £311,346 FOR THE YEAR ENDED 31st DECEMBER 1959 BALANCE AT 31sT DECEMBER, 1958 TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT 998,558 28,165 £1,026,723 FOR THE YEAR ENDED 31st DECEMBER 1959 BALANCE AT SlST DECEMBER, 1958 PROFIT ON SALE AND REDEMPTION OF INVESTMENTS Transfer from Receipts and Payments Account (see contra) 694,296 340 £694,6361958 £ 234,695 285,593 998,558 694,296 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 £133,201 relates to Freehold and Leasehold Properties necessary to the Institution's work. The balance of £459,030 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 Carriages and Tractors £100,000.

258, 311, 1,026, 592, £2,213,142 £2,188,' (Signed) HOWE, Chairman.

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

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

1st March, 1960.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. 1959, £275,939) Representing OTHER FUNDS :— British Government Securities Dominion Government Securities British Corporation and Public Board Stocks Sundry Small Investments (Market value at 31st Dec. 1959, £1,767,904).

TOTAL INVESTMENTS (Market value at 31st Dec., 1959, £2,043,843) 1,468,917 30,806 124,981 67,776 258,461 1,692,480 1,950,941 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., 1959 Less Balance of Remittances between Headquarters and Branches, October to December, 1959 BANK BALANCES £ 126,333 69,770 96,604 36,597 56,563 48,056 ccounts of the funds with the books and vouchers and find the same to be nspected the deeds of the properties belonging to the Institution.

£2,188,761 (Signed) PRICE WATERHOUSE & CO., Auditors..