RNLI/Mike

More documents

Recommendations

Info

RNLI notes to the accounts (continued)FOR THE YEAR ENDED 31 DECEMBER 20127 InvestmentsFree anddesignatedreserves£MRestrictedreserves£MEndowmentreserves£Ma) Investment assetsEquities 54.6 - - 54.6 50.4Absolute return funds 28.7 81.2 9.5 119.4 110.4Fixed interest 70.0 - - 70.0 76.4Property unit trusts 12.4 - 0.5 12.9 13.2Deposits and cash 0.5 - - 0.5 0.5Market value at 31 December 2012 166.2 81.2 10.0 257.4 250.9Total2012£MTotal2011£Mb) Analysis of movementMarket value at 1 January 2012 166.0 75.3 9.6 250.9 235.9Additions 82.7 17.8 - 100.5 78.9Disposals (90.6) (15.5) - (106.1) (67.4)Gains on investments 8.1 3.6 0.4 12.1 3.5Market value at 31 December 2012 166.2 81.2 10.0 257.4 250.9Original cost 143.4 72.2 10.1 225.7 227.0c) Investment incomeEquities 0.6 - - 0.6 0.8Absolute return funds - 0.4 - 0.4 1.6Fixed interest 2.0 - - 2.0 2.0Property unit trusts 0.8 - - 0.8 0.5Deposits and cash 0.1 - - 0.1 -Foreign exchange losses (0.1) - - (0.1) -Total 3.4 0.4 - 3.8 4.9At the end of December 2012, UK investments amounted to £192.2M (2011: £196.7M) and overseas investments amounted to£65.2M (2011: £54.2M).The RNLI holds 100% of the share capital of RNLI (Sales) Limited, amounting to £0.5M (2011: £0.5M), and RNLI College Limited,amounting to £1.0M (2011: £1.0M).The RNLI held no derivative instruments as at 31 December 2012 (2011: none). Several of the pooled investment funds held by theRNLI use derivative products within their portfolios to reduce market risk in line with their investment strategies.8 Stocks Total2012£MOperational stock 12.2 12.6Gifts and souvenirs 1.4 1.4Total 13.6 14.0Total2011£M32
9 Debtors Total2012£MLegacies receivable 30.2 25.7Trade and other debtors 0.2 0.3Income tax and VAT recoverable 1.4 1.6Other debtors 1.4 1.5Prepayments and accrued income 0.3 0.4Total 33.5 29.5A proportion of legacies receivable may be received after more than 1 year, but this figure cannot be determined with any accuracydue to the inherent uncertainty in the timing of legacy income receipt.Total2011£M10 Creditors Total2012£MAmounts falling due within 1 yearTrade creditors 6.6 9.0PAYE taxes and social security 1.1 1.1Pension creditor 0.6 0.7Dependants’ pensions 0.2 0.3Other creditors including VAT - -Finance leases - 0.1Accruals and deferred income 3.2 3.5Total 11.7 14.7Total2011£MAmounts falling due after more than 1 yearFinance leases - -VAT liability on non-business use of buildings - -Total - -Pension liabilitiesDependants’ pensions 5.7 4.9Defined benefit pension liability 24.9 33.4Total 30.6 38.3An amount, disclosed above as Dependants’ pensions, of £5.9M (2011: £5.2M), of which £5.7M (2011: £4.9M) falls due after morethan 1 year, has been provided to meet future payments to dependants of former crew members who have lost their lives on lifeboatservice. These amounts have been calculated by an actuarial valuation at 31 December 2012. Further details are shown in note 15.33
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 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: 6 Fixed assets (continued)b) Intang
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

Create successful ePaper yourself

Delete template?

Save as template?