RNLI/Mike

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GovernanceThe Royal National Lifeboat Institution (RNLI) was foundedin 1824, and incorporated under Royal Charter in 1860, withSupplemental Charters granted in 1932, 1986, 2002 and 2011.The RNLI is established as a charity in England and Wales,number 209603 and Scotland, number SC037736. It is registeredas Charity number CHY 2678 in the Republic of Ireland.The address of the registered office is West Quay Road, Poole,Dorset, BH15 1HZ.The RNLI has five wholly owned subsidiary companies:RNLI (Enterprises) Limited, RNLI (Sales) Limited, RNLI (Trading)Limited, RNLI College Limited and SAR Composites Limited, asubsidiary of RNLI (Trading) Limited.THE TRUSTEES AND MANAGEMENTThe RNLI is controlled by a Trustee Board.The Trustees are a body of volunteers with distinguishedcareers in a wide variety of fields. They come from all parts ofthe UK and RoI and many have had a lifelong interest in the sea.Trustees are appointed from within and by the Council, which inturn provides broad advice and support to the Trustees. Membersof Council may be proposed to the Membership NominationCommittee by the Trustees or a Governor. This Committee,which comprises the Chairman, the Vice-Chairman, the DeputyChairmen, the Chairman of the Resources Committee and theChief Executive, reviews the names proposed and submits itsrecommendations to the Annual General Meeting for election bythe Governors. Trustee Board Members serve a 3-year term, butmay be re-elected for succeeding terms.In addition, there are a number of advisory committees,enabling experienced specialists to contribute to key aspects ofthe RNLI’s affairs, and an Audit and Risk Committee. The Auditand Risk Committee meets twice a year and reviews the work ofthe external and internal auditors, internal controls and the riskregister. The RNLI also employs specialist advisers as shown onpage 41.On appointment, new Trustees are given an inductionprogramme and a reference manual to familiarise themselveswith the work of the RNLI and their role. Periodic trainingsessions are also held for the Trustee body as a whole. TheChief Executive is responsible to the Trustees for the day-todayrunning of the RNLI and the execution of the strategy andpolicies decided by the Trustee Board.Names of RNLI Trustees who served at any time during 2012and/or were Trustees of the charity as at the date of this report,together with the names of the Chief Executive, other membersof the Executive Team, and other relevant organisations andpersons are given on pages 40 and 41.RISK MANAGEMENTBy the RNLI’s very purpose, the crews, support staff andoperational assets are exposed to substantial risk. The Trusteeshave taken all appropriate steps to mitigate and manage theseoperational risks, principally through crew training, appropriateoperational procedures, stringent design and maintenance of thelifeboats and equipment, and insurance of third-party risks.The further development of competence-based training(CoBT) for lifeboat crew members, shore crew and lifeguardsand the new designs of lifeboats are major elements of thiscontinuing process.The RNLI actively seeks to manage the organisation’skey strategic risks on a continuous basis, which are formallyreassessed by the Executive Team and Trustees biannually. Thecurrent key strategic risks relate to loss of life, the maintenanceof the RNLI’s reputation and the ability to raise funds.16
These risks are analysed into key components in a risk registerwhere responsibility for the management of each componentis assigned to a senior manager. The Audit and Risk Committeemonitors the resulting risk profile and reports to theTrustee Board.Although responsibility for risk management lies withRNLI management, the Internal Auditor facilitates theassessment process.FINANCIAL POSITIONThe Trustees consider that there is a reasonable expectationthat the RNLI has sufficient resources to continue in operationalexistence for the foreseeable future and, for this reason, theycontinue to adopt the going-concern basis in preparingthe accounts.KEY FACTORS INFLUENCING PERFORMANCEAchievement of the RNLI’s objectives is subject to a numberof factors both within and outside of the institution’s control.Factors include the continuity and availability of public support,both in funding and in volunteering, economic stability (includingthe marine industry, the costs of maritime infrastructure and theprice of fuel), the volatility of investment markets, continuity ofnational, regional and local government policy, and the stabilityof the sociological and geophysical coastal environment.STATEMENT OF TRUSTEES’ RESPONSIBILITIESThe Trustees are responsible for preparing the Trustees’ Reportand the financial statements in accordance with applicable lawand regulations.Charity law requires the Trustees to prepare financialstatements for each financial year in accordance withUnited Kingdom Generally Accepted Accounting Practice (UnitedKingdom Accounting Standards and applicable law).Under charity law the Trustees must not approve the financialstatements unless they are satisfied that they give a true and fairview of the state of affairs of the charity and the group, and ofits, and the group’s, surplus or deficit for that period. In preparingthese financial statements, the Trustees are required to:• select suitable accounting policies and then applythem consistently• make judgements and estimates that are reasonableand prudent• state whether applicable accounting standards have beenfollowed, subject to any material departures disclosed andexplained in the financial statements• prepare the financial statements on the going-concern basisunless it is inappropriate to presume that the charity willcontinue to operate.The Trustees are responsible for keeping proper accountingrecords sufficient to show and explain the charity’s and thegroup’s transactions and disclose with reasonable accuracy atany time the financial position of the charity and the group andenable them to ensure that the financial statements comply withthe Charities Act 2011. They are also responsible for safeguardingthe assets of the charity and the group and hence for takingreasonable steps for the prevention and detection of fraud andother irregularities. Through specified financial procedures theyaim to ensure the security of RNLI property, safe receipt of allincome and appropriate review and controls over expenditure andexpenses such that they are relevant to the RNLI’s objectives, fitfor purpose, properly incurred and properly authorised.Photo: RNLI/Robin Goodlad17
Page 2 and 3: Photo: RNLI/Mike Lavis
Page 4 and 5: Message from the Chief executiveTha
Page 6 and 7: ABOUT THE RNLIFOR THE YEAR ENDED 31
Page 9: 7Photo: RNLI/JP Trenque
Page 13 and 14: BOATS, EQUIPMENT AND ESTATE MANAGEM
Page 15 and 16: We have also developed practical in
Page 17: £166.5M £140.7M £35.5MIncomeINCO
Page 21 and 22: Independent auditor’s reportTO TH
Page 23 and 24: RNLI consolidated balance sheetAS A
Page 25 and 26: RNLI consolidated cash flow stateme
Page 27 and 28: RNLI notes to the accountsFOR THE Y
Page 29 and 30: 2 SUBSIDIARY COMPANIESThe RNLI has
Page 31 and 32: 4 TRUSTEE, COUNCIL AND COMMITTEE CO
Page 33 and 34: 6 Fixed assets (continued)b) Intang
Page 35 and 36: 9 Debtors Total2012£MLegacies rece
Page 37 and 38: 15 PENSION SCHEMESThe RNLI operates
Page 39 and 40: 15 pension schemes (continued)c) Ch
Page 41 and 42: 39Photo: RNLI/Dave Cocks
Page 43 and 44: Neil LernerRichard LeworthyNorma Ma

RNLI/Mike

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