1963 Kt 311,782 562 67,171 18,851 250 56,924 21,060 5,016 3,932 86,932 3,831 83,101 481,717 11,058 1,189 24,448 2,439 3.83I 42,965 39,602 33,883 73,485 75,918 2,409 12,716 61,666 3,522 1,546 81,859 46,827 8,632 409 55,868 811,812 PAYMENTS.

LIFE-BOATS:— New life-boats for the following stations: On account — Anstruther, Caister, Cullercoats, Cromer, Hastings, Kirkcudbright, Llandudno, Newbiggin, St. Abbs, St. Davids, Seaham, Skegness, Wells, Yarmouth (I. of W.), 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 veyor of life-boats, inspectors of machinery, assistant surveyors of life-boats and machinery, draughtsmen and clerical staff 64,501 Travelling expenses. . .. .. .. 23,327 Pensions under earlier pension schemes . . 9,684 Contribution to staff pension scheme . . 4,263 101,775 Less estimated amount chargeable to lifeboat carriages and tractors . . . . 4,059 LIFE-BOAT CARRIAGES AND TRACTORS:— New carriages Repairs to carriages New tractors Repairs to tractors Estimated proportion of life-boats' expenses as above . .

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 earlier pension schemes . .

Contribution to staff pension scheme 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 . . ... ...

£ 274,098 766 "3,249 22,606 250 97,716 648 39,766 173 4,059 48,164 29,283 14,948 64,141 3,760 M03 44,944 9,514 181 £ 508,685 44,646 77,447 84,003 84,252 54,639 853,672 1963 £ 12,010 8,536 34,042 42,119 112,056 291498 1)550 257 26,798 14,047 RECEIPTS.

SUBSCRIPTIONS, DONATIONS, ETC.:— £ General subscriptions to headquarters „ „ through station branches „ „ through financial branches „ donations to headquarters „ M through station branches „ „ through financial branches Contributions from harbour authorities towards upke of life-boat stations Contribution boxes to headquarters „ „ through station branches n j, through financial branches 12,077 9 649 30,019 85,211 123,095 309,672 p 2,050 242 26,036 15,049 £ 542.913 £542,913 613,100 Carried forward £613,100 1963 £ 811,812 19*915 993 154,320 14=719 4679 16,038 sy j" 6,753 218,317 25,588 10,402 2,474 2,841 4i 3°5 4=656 50,434 35650 9=363 4=147 4=564 761 2,023 5=392 80,334 40,167 40,167 10,249 630 4,286 2,750 58,082 «2 J j*1 10,005 1,144,709 PAYMENTS.

Brought forward COXSWAINS, MOTOR MECHANICS AND CREWS:— Cost of wreck services, including allowances to life-boat crews and others, special allowances 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.

Life-boat crews and launchers for exercises Annuities and gratuities under the regulations to coxwains, bowmen, signalmen, part time and assistant motor mechanics Pensions and grants to relatives of deceased life-boatmen Pensions and gratuities under the pension scheme to expermanent crews of life-boats LIFE-BOAT INSPECTORS:— Salaries of chief inspector, deputy chief inspector, inspectors and clerical staff Travelling expenses Pensions under earlier pension schemes Contribution to staff pension scheme RATES AND REPAIRS OF MECHANICS' COTTAGES, ETC.

£ ADMINISTRATION:— Salaries of secretary, assistant secretaries, accountant, internal auditor, and clerical staff 55=841 Rent, depreciation, rates, lighting, heating, insurance, etc., of the Institution's headquarters . . . . . . . . 6,404 Insurance under national insurance acts and against claims at common law, etc. 12,698 Telephone operator, commissionaires and nightwatchman . . . . . . . . 3=795 Telephones, postages and parcels . . 5=755 Travelling expenses of committee of management . . . . . . . . . . 918 Pensions under earlier pension schemes . . 2,378 Contribution to staff pension scheme . . 5=327 93,116 Less estimated amount chargeable to raising of funds and publicity . . . . 46,558 Stationery, office expenses, printing and books Legal and professional expenses Repairs and improvements to Institution's headquarters GRANTS IN CONNEXION WITH CERTAIN LEGACIES CONFERENCE OF LIFE-BOAT SOCIETIES Carried forward . . . . . . . .

£ 23,369 568 164=403 12,860 4,827 17,631 6,728 32,466 10,683 2,612 3.152 46,558 13=947 630 6,320 6,674 £ 853,672 230,386 48=913 6,578 74=129 860 1=713 1,216,251 RECEIPTS.

Brought forward INCOME FROM INVESTMENTS:— Dividends and interest on investments Less:— Interest on certain trust funds transferred to Special Purposes Fund .. .. 2,289 Interest on certain endowment funds transferred: (a) to general subscriptions, etc. .. 523 (b) to General Endowment Fund .. 1,808 613,100 88,820 4,620 SUNDRY RECEIPTS:— Sale of old stores Rentals of freehold and leasehold premises Underwriting commission 11,461 1,858 339 84,200 13,658 Total ordinary receipts .. 710,958 Carried forward 710,958 1963 Kt 11,356 395589 7,888 557 14 495 8,096 2,916 8,886 40,167 I95P73 1*339*782 7,100 233*738 228,723 5*015 223,099 PAYMENTS.

Brought forward RAISING OF FUNDS AND PUBLICITY:— Salaries of public relations officer, assistant and clerical staff and wages of manual workers .. .. .. 13*892 Salaries of district organizing secretaries and clerical staff .. .. .. .. .. .. 46,001 Travelling expenses.. .. .. .. .. .. 8,616 Annual general meeting .. .. .. .. .. 545 Advertising and appeals .. .. .. .. .. 19,996 Stationery, printing, books, films, badges, collecting boxes, district offices expenses, postages .. .. 64,223 Printing and binding the year book and life-boat journal.. 8,984 Salaries and commissions of assistant secretaries, etc., of branches .. .. .. .. .. .. 7,508 Pensions under earlier pension schemes 3*133 Contribution to staff pension scheme .. .. .. 5*566 Estimated proportion of administration expenses as above 46,558 1,216,251 Total payments Transfer to General Endowment Fund being the amount of the year's receipts of gifts for endowment purposes Transfer to Special Purposes and Maintenance Fund being the excess of the year's receipts for special purposes over payments in die year met from special gifts, etc., arrived at as follows: Receipts in the year of gifts and legacies for special purposes Less payments in year met from gifts and legacies for special purposes (of which £128,591 relates to new lifeboats and £61,945 to other items) Transfer to Special Purposes, etc. Fund 225,022 1,441,273 433 252,071 190,536 6i,535 6i,535 Transfer to General Purposes Fund 212,548 RECEIPTS.

Brought forward LEGACIES FOR GENERAL PURPOSES Total receipts for general purposes 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 Special gifts Legacies .. ,.

24,124 83,096 144,851 GIFTS AND LEGACIES FOR ENDOWMENT PURPOSES (The income therefrom to be applied in accordance with the directions of the respective donors).

Gifts Legacies ..

177 256 Total receipts Transfer from Reserve for Replacement of Life-boats being the excess of payments on account of new lifeboats in the year not met from special gifts, etc., over the estimated average annual cost falling to be met from general purposes receipts, arrived at as follows: Payments on account of new life-boats in the year .. 274,098 Less amount met from gifts and legacies for special purposes 128,591 145=507 Deduct estimated average annual cost of replacements falling to be met from general purposes receipts .. 125,000 Transfer from Reserve 20, 07 NOTE:—This account includes the receipts and payments of the headquarters of the Institution for the year to 3ist December, 1964, and of the branches for the year to 3Oth September, 1964.

£ 710,958 731,820 1,442,778 252,071 433 1,695,282 20,507 1963 £ 246*479 £246,479 360,711 £360,711 44 455 1,063,653 £1,108,108 192,000 939A23 GENERAL ENDOWMENT FUND, The income to be applied for the purpose of the Instituti BALANCE AT 315? DECEMBER, 1964 248,720 £248,720 SPECIAL PURPOSES AND MAINTENANCE FUN The capital to be applied for the purposes of the Instituti BALANCE AT 3151 DECEMBER, 1964 424,535 £424.535 RESERVE FOR REPLACEMENT OF LIFE-BOAT TRANSFER TO RECEIPTS AND PAYMENTS ACCOUNT 20,507 BALANCE AT 3 IST DECEMBER, 1964 .. .. 1,243,146 £1,263,653 GENERAL PURPOSES FUN] Transfer to R.N.L.I. Staff Pension Fund arising on the establishment of this fund to replace the 1938 Pension Scheme and incorporate other pension arrangements formerly not funded TRANSFER TO RESERVE FOR REPLACEMENT OF LIFE-BOATS BALANCE AT 3 IST DECEMBER, 1964 200,000 958,669 £1,158,669 FOR THE YEAR ENDED 3151 DECEMBER, 1964 in accordance with the directions of the respective donors.

BALANCE AT SIST DECEMBER, 1963 TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT UNEXPENDED INTEREST ON CERTAIN FUNDS £ 246,479 433 1,808 £248,720 FOR THE YEAR ENDED sist DECEMBER, 1964 in accordance with the directions of the respective donors.

BALANCE AT 3IST DECEMBER, 1963 INTEREST ON UNEXPENDED BALANCES OF CERTAIN FUNDS TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT 360,711 2,289 6i,535 £424,535 FOR THE YEAR ENDED gist DECEMBER, 1964 BALANCE AT 3131 DECEMBER, 1963 TRANSFER FROM GENERAL PURPOSES FUND 1,063,653 ... 200,000 £1,263,653 FOR THE YEAR ENDED 3ist DECEMBER, 1964 BALANCE AT SIST DECEMBER, 1963 PROFIT ON SALE OF INVESTMENTS TRANSFER FROM RECEIPTS AND PAYMENTS ACCOUNT 6,698 212,548 STATEMENT OF FUNDS AND RELATIVE ASSET 1963 246,479 360,711 1,063,653 939,423 £2,610,266 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 £6,000,000 and the estimated liability for replacements at present contemplated exceeds £1,400,000, part of which will be met by special gifts and legacies.

GENERAL PURPOSES FUND Of this fund £173,173 relates to freehold and leasehold properties necessary to the Institution's work. The balance of £785,496 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 £345,000 and provision of new carriages and tractors £64,000.

248,72* 424,53 1,243,121 958,66; £2,875,070 (Signed) V. M. WYNDHAM-QUIN Chairman.

(Signed) S. M. WHORLCW Secretary.

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

I5th March, 1965.

DECEMBER, 1964 INVESTMENTS at quinquennial valuation on 3ist December, 1961, or cost if acquired since:— Representing GENERAL ENDOWMENT FUND Income only available:— British government securities (Market value at 3ist December, 1964, £260,210) Representing other funds:— Quoted— British government securities British corporation stocks Debenture stocks Ordinary U.K. stocks and shares U.S.A. stocks 543=5" 137,222 "8,737 1,301,677 6i,773 (Market value at sist Dec. 1964, £2,050,872) Total quoted investments (Market value £2,311,082) Unquoted— — Short term loan to local authorities .. .. 50,000 Mortgages, debentures and other securities.. .. 46,064 Cash on deposit .. .. .. .. .. 30,000 TOTAL INVESTMENTS 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, 3Oth Sept., 1964 .. 224,883 Less balance of remittances between headquarters and branches, October to December, 1964 .. 133,628 BANK BALANCES ounts of the funds with the books and. vouchers and find the same to be spected the deeds of the properties belonging to the Institution.

248,714 2,162,921 2,411,635 126,064 2,537,699 116,404 56,769 91=255 72,943 £2,875,070 (Signed) PRICE WATERHOUSE & CO., Auditors.

LIFE-BOATMEN 1963 3=618 £3,618 230 54 £284 ENDOWMENT FU £ Balance carried forward at 3151 December, 1964, represented by £4,601 Conversion 5 % Stock 1974 .. .. .. ... .. ..

(Market value at 3ist Dec., 1964, £4,256) 4,38 £4,38 Grants to beneficiaries Balance carried forward at 3151 December, 1964 REVENUE ACCOU 26 2 £2! (Signed) V. M. WYNDHAM-QUIN Chairman.

(Signed) S. M. WHORLOW Secretary.

We have examined the above statement with the books and vouchers of accordance therewith. We b I5th March, 1965.

iNEVOLENT FUND R THE iYEAR ENDED 3ist DECEMBER, 1964 1963 3,225 393 93 191 Balance brought forward at ist January, 1964 ..

Subscriptions and Donations received and invested IR THE YEAR ENDED 3ist DECEMBER, 1964 £284 Balance brought forward at ist January, 1964 Investment income .. .. .. ..

£3,618 771 £4,389 54 240 £294 :-boatmen's Benevolent Fund and find the same to be correct and in i verified the investment.

(Signed) PRICE WATERHOUSE & CO., Auditors..