RNLI/Mike

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RNLI balance sheet*AS AT 31 DECEMBER 20122012 2011Note £M £M £M £MAssets employedFixed assets 6Tangible assets 337.4 319.7Investments 7 258.9 252.4Current assetsDebtors 45.4 47.1Short-term deposits 4.1 2.4Cash 2.5 2.252.0 51.7CreditorsAmounts falling due within 1 year (5.3) (6.6)Net current assets 46.7 45.1CreditorsAmounts falling due after more than 1 year 10 (5.7) (4.9)Net assets excluding pension liability 637.3 612.3Defined benefit pension liability 10 (24.9) (33.4)Net assets including pension liability 2 612.4 578.9The reserves of the Charity:Committed reservesEndowment reserves 10.0 9.6Restricted reserves : Fixed assets 191.0 179.2Other restricted reserves 81.2 75.3Accrued legacy reserve 9.2 8.3281.4 262.8Designated reserves : Fixed assets 146.4 140.5Planned capital expenditure 12 91.2 75.9237.6 216.4Net free reservesFree reserves 87.3 106.1Accrued legacy reserve 21.0 17.4FRS17 pension reserve (24.9) (33.4)83.4 90.1Total reserves 612.4 578.9The notes on pages 25–38 form part of these accounts. The accounts of the RNLI and the consolidated accounts were approvedand authorised for issue by the Trustees on 10 April 2013 and signed on their behalf.Admiral the Lord Boyce KG GCB OBE DLChairman10 April 2013Paul Boissier CB MA MScChief Executive10 April 2013*The RNLI balance sheet shows the financial position of the charity excluding its subsidiaries.22
RNLI consolidated cash flow statementFOR THE YEAR ENDED 31 DECEMBER 20122012 2011Note £M £M £M £MNet cash inflow from operating activities †(a) 26.2 33.7Returns on investmentsInvestment income 3.8 4.9Capital expenditurePayments to acquire fixed assets:Lifeboats (11.5) (16.4)Stations and shoreworks (8.0) (10.9)Launching equipment (0.3) (0.6)Depots, offices and training facilities (0.7) 0.2Computer equipment, plant and vehicles (5.2) (4.1)Assets under construction movement (9.8) (1.7)(35.5) (33.5)Receipts from sales of fixed assets 1.6 3.0Net cash outflow for capital expenditure (33.9) (30.5)Cash (outflow)/inflow after capital expenditure (3.9) 8.1InvestmentsPurchase of investments (100.5) (78.9)Receipts from sale of investments 106.1 67.4Net cash inflow from /(outflow to) investments 5.6 (11.5)Cash inflow/(outflow) before use of liquid resources 1.7 (3.4)Management of liquid resourcesTransfer (to)/from short-term deposits (1.7) 4.7Increase in cash in the year ‡(b) - 1.3Notes to the consolidated cash flow statement 2012 2011† (a) Reconciliation of changes in net incoming resources £M £Mto net cash inflow from operating activitiesNet incoming resources 25.8 22.3Investment income (3.8) (4.9)Depreciation/amortisation 22.4 21.4Profit on sale of tangible fixed assets (0.1) (0.4)Decrease/(increase) in stock 0.4 (0.5)Increase in debtors (4.0) (3.8)(Increase)/decrease in creditors (2.2) 1.5Decrease in pensions liabilities (8.5) (4.7)Actuarial (losses)/gains on pension schemes (3.8) 2.8Net cash inflow from operating activities 26.2 33.7‡(b) Reconciliation of net cash outflow2012£M2011£MIncreasein year£MCash 2.9 2.9 -23
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 and 18: £166.5M £140.7M £35.5MIncomeINCO
Page 19 and 20: These risks are analysed into key c
Page 21 and 22: Independent auditor’s reportTO TH
Page 23: RNLI consolidated balance sheetAS A
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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