Annual Report and Financial Statements
The Marine Technology Trust
For the year ending 30[th] June 2025
Registered as a Charity under The Charities Act 1960 Registered Charity Number 1004450
The Marine Technology Trust
TRUSTEES’ REPORT
for the year ended 30[th] June 2025
PRINCIPAL AIMS AND OBJECTIVES
The objects of the Trust are to foster and promote for the public benefit education, training and research in particular by providing opportunities for education, training and research to young people in matters connected with or bearing upon marine technology.
GOVERNING TRUST DOCUMENT AND STATUS
The Trust was registered with The Charity Commissioners on 16 October 1991 under Registered Charity Number 1004450.
The Governing Trust Document is a Deed of Settlement dated 27 September 1991.
TRUSTEES
Trustees from 1[st] July 2024 until the date this report was approved were
Dr R V Ahilan, FREng (Chairman) Professor R Eatock Taylor, FREng (retired 15[th] Mrs R Blazejczyk (Secretary) July 2024) Mr J Anderson (Treasurer) Dr D Walker Ms Chloe Fisher Professor S R Turnock
INCOME AND INVESTMENTS
The Trust was set up by an initial donation of £100 under the Deed of Settlement with a further donation of £12,000 of investments in BP plc by Mrs Shirley Adye, in memory of her husband Mr Mike Adye, the first Director of the Marine Technology Directorate Ltd. Following further donations, the sum of £23,000 was invested with M&G through the Charibond and Charifund schemes in December 1994, with further investments in these schemes in July 1997 (£5,000) and June 2000 (£5,000); additional investments in Charifund were made in December 2002 (£2,000) and January 2007 (£5,000). An additional donation of £10,000 was made to the Trust in March 2016, which was invested in BP plc shares. A monthly donation of £50 started in February 2017.
In the current period the Trust received a donation of £20,000 from the Elba Foundation specifically to host an event to raise awareness of the Trust and to develop a brokerage platform to connect undergraduate and graduate students with companies offering marine technology internships. An agreement was signed related to this donation to restrict its use for the purpose described above.
At the end of the period M&G closed their Charifund product and provided the balance to the Trust in a cheque.
The market value of the investments is shown on the balance sheet.
AWARDS
Three awards were made in the year of £1,000 each. A payment was also made for an award from the prior period of £600.
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The Marine Technology Trust
TRUSTEES’ REPORT
for the year ended 30 June 2025
TRUSTEES’ RESPONSIBILITIES
The Trust Deed requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplus or deficit of the Trust for that period. In preparing those accounts, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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prepare the accounts in accordance with the provisions of the Trust Deed.
The Trustees are responsible for keeping proper accounting records, in accordance with Trust Law, which disclose the financial transactions and the assets and liabilities with reasonable accuracy. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention of fraud and other irregularities.
CHAIRMAN OF TRUSTEES
Date: 09/04/26
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The Marine Technology Trust
INDEPENDENT EXAMINER'S REPORT
to the Trustees of The Marine Technology Trust
I report on the accounts of the charity for the year ended 30[th] June 2025 which are set out in pages 4 to 6.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 144 of the 2011 Act
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act
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state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINERS REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINERS REPORT
In connection with my examination, I report that no matter has come to my attention that gives me any cause to believe that the charity does not keep accounting records in accordance with section 130 of the 2011 Act and that the accounts prepared do accord with the accounting records of the charity and comply with the accounting requirements of the 2011 Act.
Name: JAMES DE BASS
Address: BOWHILL, RIVERSIDE ROAD, TOPSHAM, EX3 0LR
Date: 10/04/2026
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The Marine Technology Trust
INCOME AND EXPENDITURE ACCOUNT For the year ended 30[th] June 2025
| Interest receivable Dividend income Other investment income Donations Gift Aid Prizes and scholarships donated Administrative expenses Surplus before unrealised gains on investments Increase/decrease in market value of investments Surplus/(Loss) for the year |
2025 Unrestricted Funds £ 0 2,567 3,835 669 0 7,071 (3,600) 3,471 (750) 2,721 (19,369) (16,648) |
2024 Unrestricted Funds £ 0 2,401 3,587 560 138 6,686 0 6,686 (100) 6,586 6,305 12,891 |
2025 Restricted Funds £ 0 0 0 20,000 0 20,000 0 20,000 (8,062) 11,938 0 11,939 |
2024 Restricted Funds £ 0 0 0 0 0 |
|---|---|---|---|---|
| 0 0 |
||||
| 0 0 |
||||
| 0 0 |
||||
| 0 |
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The Marine Technology Trust
STATEMENT OF ASSETS AND LIABILITIES At 30[th] June 2025
| 2025 | 2024 | 2025 | 2024 | |
|---|---|---|---|---|
| Unrestricted | Unrestricted | Restricted | Restricted | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Investments2 | 96,564 | 115,934 | 0 | 0 |
| Other monetary assets3 | 10,006 | 140 | 0 | 0 |
| Cash | 34,548 | 31,826 | 11,938 | 0 |
| 141,119 | 147,900 | 11,938 | 0 | |
| Other liabilities4 | 0 | 500 | 0 | 0 |
| 141,119 | 147,400 | 11,938 | 0 |
Dr R V Ahilan – Trustee
Mr J S Anderson – Trustee
Date
09/04/26
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The Marine Technology Trust
NOTES TO THE ACCOUNTS at 30[th] June 2025
1. ACCOUNTING POLICIES
Accounting convention and standards
The accounts are prepared on a receipts and payments basis in accordance with The Charities Act 2011 and applicable accounting standards.
Current asset investments
Current asset investments are valued at their mid-market value at the balance sheet date.
Dividend income
Dividend income is included in the accounts when receivable by the Trust.
2. INVESTMENTS
| 2. INVESTMENTS | |||
|---|---|---|---|
| BP plc: Ordinary shares of US$0.25 M & G Equities Investment Fund for Charities: Income Units M & G Charibond Charities Fixed Interest Common Investment Fund: Income Shares 3. OTHER MONETARY ASSETS Cheque from M&G Gift Aid claim from HMRC (not yet received) 4. OTHER LIABILITIES Independent Examination |
Valuation 30.6.25 £ 38,435 58,129 0 96,564 2025 £ 9,844 163 10,006 2025 £ 0 0 |
Incr/(Decr) in value during year £ (11,508) 2,077 (9,938) (19,369) 2024 £ 0 140 140 2024 £ 500 500 |
Valuation 1.7.24 |
| £ 49,944 56,052 9,938 |
|||
| 115,934 | |||
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