Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20."17 BST IUTC +11 D 111 P 11Y Registered number- 2737421 English registered charity number- 1014705 Scottish registered Charity number.. SC040231 WHALE AND DOLPHIN CONSERVATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ? Bishop Fleming Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20."17 BST IUTC +11 D 111 P 21Y WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI CONTENTS Page Reference and Administrative Details of the Charity¥ its Trustees and Advisers Trustees. Report Trustees. Responsibilities Statement 21 Independent Auditors. Report on the Financial Statements 22-25 Consolidated Statement of Financial Activities 26 Consolldated Balance Sheet 27 Charity Balance Sheet 28 Consolidated Statement of Cash Flows 29 Notes to thg Financial Statements 30-52 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20".17 BST IUTC +11 D 111 P 31Y WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trustees Lisa Drewe, Chair Ariella Bortot lappointed 10 May 20231 John Gerard-Leigh Alexander Hunt Hannah Mccarthy lappointed 10 May 20231 Jessica Pollitt lappointed 10 May 20231 Adrian Reed Philip Smith Percy Kelland Iresigned 6 October 20221 Company registered number 2737421 Charity registered number 1014705 SC040231 Registered office Brookfield House 38 Sl Paul Street Chippenham Wiltshire SN15 1LJ Company secretsry Carolyn Moore Chief executive officer Chris Butler-slroud Independent auditors Bishop Fleming LLP Chartered Accountants 10 Temple Back Bristol BS1 6FL Bankers Barclays Bank plc 99 Hatton Garden London EC1N 8DN Solicitors Royds Withy King 5-6 Northumberland Buildings Queen Square Bath BA1 2JE Investment Managers Barclays Wealth Gerrard Investment Management 4th Floor, Tay House 300 Bath Street Glasgow G2 4LH Page 1 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20."17 BST IUTC +11 D 111 P 41Y WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI CHAIR'S STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2023 WDC is an organisation with big ambitions to create a better world, for whales and dolphins, and for all of us. It is pragmatic bul passionate, and it is this combination that enables us to earn the trust of govemments and corporations, scientists, and members of the public all around the world. Our global outlook is vital if we are lo bring about the changes needed to achieve our vision of a world where every whale and dolphin is safe and free. This year we demonstrated WDC'S reach, both in the breadth of the issues we work on, and in the different parts of the world where we operate. We ramped up our advocacy for whales and dolphins al intemational conventions on migratory species, biological diversity, trade and climate change le.g. CMS, CBD, IUCN, CITES and UNFCCCI and at the International Whaling Commission. We spoke truth to power from Westminster to Washington, giving evidence on the UK Government's inadequate protections of marine mammals and petitioning the US Government to act on vessel speeds. We built new alliances with people and organisations in those places where whales and dolphins face the most deliberate harms, standing shoulder-lo-shoulder wth Icelandic people in Reykjavik, and young campaigners in Japan, as they bravely called for whaling in their countries lo end. By funding legal action in Iceland, we helped save the lives of around 120 fin whales. We used the 30th anniversary of the closure of Britain's last dolphinarium lo call for an outright ban on captivity in the UK and an end to the advertising of facilities abroad. We are in this for the long haul and are determined to make visiting a dolphinarium on holiday as socially unacceptable as it would be at home, reducing the revenues flowing to this terrible industry. We are finding solutions to the threats from nets and fishing gear, working with communities in the US, Scotland, and Hong Kong lo demonstrate the effectiveness of alternative gears and publishing a report on the use of 'pingers' to reduce harms to porpoises and other cetaceans in the Baltic Sea. We brought home the impact of chemical pollution through a new report and animated film, telling the tragic story of the wesl coast community of orcas, doomed lo extinction through the accumulation of manmade chemicals in their bodies. And we continued lo push the boundaries of our knowledge about whales and dolphins, through our pioneering work to map important marine mammal areas., unlock the use of satellites and Al to count whales from space., demonstrate whales, and dolphins, impact on the ecosystem and climate., and show the vital need to account for cetacean culture in conservation. The lack of scientific data and knowledge about whales and dolphins is a major threat to their populations and WDC is playing an increasingly important role in bridging the gaps be￿een scientific knowledge, public awareness and policy action. As we grow our ambib'ons, we must also grow our fundraising to match, and our team is meeting the challenge. Last year, against the backdrop of a very challenging economic outlook, we increased income by an impressive 29Q/o on the previous year. Our retention rates for individual donors averaged 80Q/o, which is exceptionally high for the sector, and we continue to work hard to earn the loyalty of our wonderful supporters and adopters. We are also growing new income streams from philanthropy, trusts and grants, legacies, and partnerships. Digital partnerships for example led to our largest ever donation of £683,000 from a World Ocean's Day Steam Sale and an exceptional £304,000 from Yogscast's annual Jingle Jam fundraiser. This year we also joined events such as Guernsey Sustainable Finance Week and Blue Earth Summit, as we make the case for the financi81, business, and philanthropic sectors to increase their support for marine conservation. To quote David Attenborough, 'saving our planet is now a communications challenge" and WDC'S work is rarely out of the news. We are growing our communications efforts in the UK, US and Germany, as well as in Page 2 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 51Y WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI CHAIR'S STATEMENT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 those countries - such as Norway, Japan and the Faroe Islands where whales and dolphins face the most deliberate harm. We are creating new web conlenl and information in Nonmegian, Japanese and Faroese and teaming up with artists and influencers from those countries to give a voice to those who, like us, want whales and dolphins lo live safe and free. We are developing new digital content and storytelling techniques to put whales and dolphins al the heart of debates about tsckling the nature and climate emergencies. And we are working with inspirational authors and artists, such as Hannah Gold, Tom Mustill, and Sounds of the Ocean to inspire people with the wonder of whales and dolphins. This is just a fraction of what our teams are doing, and I would like to pay tribute to ￿￿Dc,$ amazing staff, 211 around the world. They make me proud lo represent such an ambitious and posrtive charity. Bul saving the whale - and saving the world is not just the job of NGOS or individuals, il is for all of us. As Clive Anderson said, "I'm very keen on the environment, because I live in it.. We all have a vested inteTest in protecting the planet, and I was delighted to see the work we are doing with our partner Deloitte to make the positive case for business investment in nature conservation. WDC can only do what it does because of our incredible supporters, donors, partners, and allies. By pooling our collective resources, knowledge and passion there's nothing we can't achieve. Dr Lisa Drewe Chair of Trustees Date.. 3 JunÈ 2024 Page 3 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20".17 BST IUTC +11 D 111 P Sly WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 REPORT OF THE TRUSTEES The trustees are pleased to present their annual trustees, report together with the consolidated financial statements of the charity and i(s subsidiaries for the year ended 30 September 2023, which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial ststements comply wrth the Charities and Trustee Investment {Scotlandl Act 2005, the Charities Accounts {Scotlandl Regulations 2006 las amended), the Companies Act 2006, the Charities Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. The Trustees have considered a period of at least 12 months from the dale of signing these financial statements. Given the level of reserves, cash and bank balances and the current operating position of the charitable group, they consider that the accounts should be prepared on a going concern basis. ABOUT WDC WDC is the leading global NGO dedicated to whales and dolphins. Our expert-led teams in the UK, Europe, the Americas, and Australasia work across the whole spectrum of conservation threats, from climate breakdown lo accidental entanglements in fishing gear. We bring together, and work hand-in-hand with companies, philanthropists, scientists, NGOS, governments and grassroots communities to find solutions to the problems faced by whales and dolphins. We are an authority on the threats to whales and dolphins and our work ranges from campaigning, lobbying, and advising governments, to running conservation projects, partnerships, rescue work, science, education and fieldwork. We increase awareness of new science and understanding of whale and dolphin culture and intelligence. At the same time, we build a greater appreciation of the role whales and dolphins play in healing the O￿an and tackling climate change. We are entirely funded through voluntary donations and grants by people and partners who, like us, believe that whales and dolphins are extraordinary. Page 4 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20."17 BST IUTC +11 D 111 P 71Y WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 OUR OBJECTIVES & ACTIVITIES Our vision is for a world where every whale and dolphin is safe and free. Why vthales and dolphins matter hales and dolphins are awe-inspiring. They are intelligent beings, vital for the health of the ocean and planet. They have suffered from terrible harm deliberate and accidental and their homes and populations are under threat. But it's not too late. Together we can still help them recover and flourish and, in doing so, they can help us reconnect with the wild and repair the damage we have caused. Why WDC? C is the leading global NGO dedicated to whales and dolphins. We are lean, ambitious, impactful. and internationally respected. Our expert4ed teams in the UK, Europe, the Americas, and Australasia work across the whole spectrum of conservation threats, from climate breakdown to accidental entanglements in fishing gear. We bring together, and work hand-in-hand with companies, philanthropists, scientists, NGOS, governments and grassroots communities to find solutions to the problems faced by whales and dolphins. Our approach We deal with complex, global issues, which is why we tske an integrated approach to finding solutions that create positive change. We do this through.. delivering conservation, research, and rescue, directly and in partnership with others., providing a powerful voice for whales and dolphins among governments and businesses., delivering campaigns, education, science, and storytelling that inspire public support and action., creating and nurturing a diverse, equitable, and inclusive team of ocean champions who gnie a voice to whales and dolphins. Our aims To reverse the global decline in whale and dolphin populations by.. stopping cruelty from deliberate harms such as whaling and captivity., creating safe seas, free from the threat of pollution, collisions with vessels and accidental entanglements in fishing gear., winning recognition of whales and dolphins as sentient, socially complex beings, and our allies in the fight against climate and nature breakdown. Our 10-year goals Achieve intemational recognition of the vital importance of whales and dolphins to life on Earth. Strengthen whales, and dolphins, legal protections globally through recognition of their rights. Create a diverse, equitable and inclusive global movement of people acting for whales and dolphins. Secure the UK'S first ever Marine Mammal Protection Act. End commercial whaling. Reverse the growth in captive facilities worldwide. Page 5 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20".17 BST IUTC +11 D 111 P 8lY WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Achieve sustainable fishing solutions that reduce impacts on whales and dolphins intemationally. Secure a ban on gillnets in the UK. Win meaningful protection of at least 30 /0 of the ocean for whales and dolphins. Reduce the harmful impact of industrial ocean activities on whales and dolphins, including noise pollution, vessel strikes and damage lo critical habilals. Page 6 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20."17 BST IUTC +11 D 111 P gly WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 ACHIEVEMENTS & FUTURE PLANS 1. WHALES AND DOLPHINS MATTER ales and dolphins have rich and diverse cultures, societies and intelligence, and their populations play a significant, but poorly understood, role in the health of the ocean, the abundance of marine life and the regulation of the climate. C has long championed whale and dolphin rights, and the conservation of their populations both for their benefit, and for their contribution to tackling climate and biodiversity breakdown. This year, thanks to the support from the Arcus Foundation, Flotilla Foundation, the Global Returns Project, BRITA, Animal Friends Pet Insurance, and our other SUPFlOrters and donors, we pushed ahead with our programme of research and advocacy demonstrating why whales and dolphins matter. 1A. 'Green Whale'_ ocean-based solutions to the climate and nature crises. What we achieved this year Delivering advocacy: Promoted whales, and dolphins, role as nature allies at key international conventions from the COP15 summit on biodiversity to the COP28 summi( on climate, producing a new package of public communications tools and taking our message - 'Save the Vvhale, Save the World, from the streets of Westminster to the Arabian Gulf. Published, with our partners Deloitte, a new report highlighting the contribution whales make to nature, our lives and economy. Published a new WDC report, 'Vlhales in Hol Water,, on the threat of climate breakdown to whales and dolphins. Advancing the science: Continued lo help push back the boundaries of science to reveal the links be￿een whales and dolphins and ocean heahh. The Alaska fieldwork we are funding with Dr Heidi Pearson is indicating a strong link belween humpback whales and the produclivily of phyloplanklon, and the research we funded from Dr Joe Roman into the contribution of whale migration to nutrient dispersal (the 'Great V￿ale Conveyor Belt'l has been submitted to the journal Nature Communications for peer review. We are grateful to the Flotilla Foundation for its ongoing generous support and commitment to advancing this highly important area of work. Next year we shall: We will publish the results of the VVDC-backed Alaska Wiale Pump project, establishing a robust foundation of our understanding of the impact humpback whales have on nutrient and carbon cycles. We will continue to seek financial support for a series of cutting-edge scientific research into the role of whales and dolphins in the ecosystem, including our work lo expand the use of satellites and Al to study whales from space. 1B. Culture and rights - why individual whales and dolphins matter. What we achieved this year Coordinated a project to map the diversity and richness of animal cultures and present them within the context of intangible cultural heritage and mutualism with human cultures. Page 7 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 10154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Led a CMS workshop on non-human culture, the recommendations of which were approved by the CMS Scientific Council and will go forward to CMS CoP14 for the Parties to consider. The recommendations emphasise the Importan￿ of conseNing cultural biodiversity across species. Drafted, with Professor Hal ￿llehead, a chapter on cetacean cuttures and conservation for inclusion in a new volume of the seminal text Cetacean Societies- to be published in 2024. Published an article on cetacean sociality and reproduction to guide managers towards integrating knowledge on cetacean reproductive health into conservation strategies, to improve species iecovery, protect biodiversity and prevent future extinctions. Supported 2 side event on animal culture al the ICOMOS General Assembly and presented and co-led with the IUCN Secretariat a side event at the World Heritage Committee on biocullural biodiversity. Continued to explore a wide range of policy avenues for incorporating cetacean culture. Commenced work, thanks to funding from the Arcus Foundation, on an interactive online tool for exploring everything that is known about whale and dolphin culture. Next year we shall: Develop the user interface and launch the novel, interactive cetacean and primate culture mapping project. Collaborate lo develop a side-event bel￿een CMS and IUCN on animal culture at CMS CoP15, develop and distribute a CMS faclsheel on animal culture to inform delegates at the COP to garner support for the wider work on culture from across the Parties to the convention. Work with indigenous groups across the Pacific region to bring foNard diverse human perspectives on whale and dolphin cultures and rights. Continue to advocate for cetacean cultures across a range of fora, including through the IUCN. Co-lead a special issue of the journal Philosophical Transactions of the Royal Society B, with 18 published contributions from experts across the field of non-human culture and conservation, to provide a central reference point on culture and conservation for managers and researchers. 1C. Enabling citizen science. What we achieved this year With support from the National Lottery Heritage Fund, we continued invofving remote communities in Scotland's Northern Isles in our citizen science Shorewatch cetacean monitoring project. With funding from Jingle Jam, we increased engagement with people across Scotland, growing the number who appreciate whales and dolphins. 134 new volunteers trained (including 44 young people)., 238 people collected Shorewalch data from 56 sites around Scolland., Shorewatchers volunteered over 5,000 hours to undertake almost 11,000 watches., More than 8,000 members ofthe public engaged., Funding from Seachangers for consecutive years allowed us to engage young people from disadvantaged backgrounds with our Shorewatch programme by removing barriers lo access these opportunities. Next year we shall: Increase Shorewatch presence, data collection and monitoring of whales and dolphin in key areas and continue lo increase engagement wi(h young people in Scotland,. Page 8 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 11154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Analyse Shorewatch data and trends lo inform policy decisions and raise public awareness of the growing threat of human disturbance on whales and dolphins., Support efforts, with partners including Nature Scot, lo improve monitoring of highly mobile species,. Coordinate a project demonstrating the value of land-based monitoring of whales and dolphins. 1D. Education and learning What we achieved this year Worked, in the US, with 50 schools, and 49 community organisations. Through the Green Vvhale lesson, students discovered the fascinating wonders of plankton with WDC'S traveling microscope lab. They gained an understanding of how whales help sustain life on earth and sequester caibon and explored the ocean's food web in relation to whales and plankton. Thanks to funding from Deloitte and the Sandhu famity legacy, we were able to purchase a life-svzed inflatable humpback whale, named 'Hope', that we used to engage young people at our Scottish Dolphin Centre and in schools across Scotland. Secured funding from Jingle Jam lo refurbish the Scottish Dolphin Centre. This enabled us lo improve accessibility for all visitors and upgrade the exhibition space to make it more engaging and impactful for our 65,000 annual visitors. Supported community conseNation education programmes in the Amazon regions of Bolivia, Colombia, and Peru. Our NGO partners worked in schools and river communities and engaged people in river dolphin and habitat protection activities. Next year we shall: Increase the number of students that engage in a WDC education program., Expand our lesson plan development and online resources., Undertake a professional evaluation of our education program", Launch and promote a new German website for children., Build local understanding and support for Tiver dolphin conservation action in Amazon communities, especially among children. 2. STOP CRUELTY 2A. Hunting The best way to end whaling and hunting is to change the hearts and minds of the people living in those ountries where these practices persist. We are increasing our presence and actniity in whaling countTies, working with local people and NGOS who oppose the deliberate killing of whales and dolphins. What achieved this year Iceland.. Helped gecure a Iwo-month suspension of whaling, saving the lives of an estimated 120 fin whales through.. working with our partner Hard lo Port to publicly expose the suffering caused by Iceland's remaining rin whalers., supporting Icelandic law firm Rettur lo gather legal evidence that will encourage a formal ban,. standing shoulder-to-shoulder with Icelandic people with ongoing support online and in person at anti- whaling rallies in Reykjavik. Page 9 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 12154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Faroe Islands.. Created Faroese-language education material aimed at increasing understanding among young, local people of the intrinsic and extrinsic value of whales and dolphins. orway: Recruited a Norwegian campaigner to head up our engagement in Norway and develop collaborative working with Norwegian NGOS, whale watching companies and influencers. In addition, we partnered with Norwegian animal rights charity NOAH and Us-based charity, AWI, to test Norwegian-sourced minke whale meat for contamination. Japan: Ran a successful scoping trip to Japan and South KoTea to develop our network of local partner organisations opposed lo commercial whaling and small cetacean hunts. Greenland: Successfully called out Greenland at the Convention on International Trade in Endangered Species ICITESI, for its inadequate regulation of trade in narwhals. Next year we shall: Work with partners in Japan on education and awareness-raising activities, create a dedicated Japanese-language website and conduct a new poll on attitudes towards whaling and whale meat consumption in Japan., Establish new partnerships in Norway and the Faroe Islands and a develop a series of in-country engagements., Run a campaign to dissuade Michelin from promoting or awarding stsrs to restaurants serving whale meat., Create and promote a report to the Icelandic Fisheries Ministry, making the case for whaling licences not to be renewed in 2024 and for permanently banning whaling., Publish an update on global small cetacean hunts. 2B. Anti-captivity What we achieved this year Used the 30th anniversary of the cloging of the lagt dolphinarium in Britain to grow public awareness of the issue and call for a formal UK ban. We partnered with the Professional Cartoonists Organisalion to launch a series of anti-captivity cartoons al three venues.. in the Houses of Parliament., in an online virtual exhibition., and at the HeTne Bay Cartoon Festival. Over 12,000 people signed our petition calling for a UK captivity ban, which we delivered lo 10 Downing Street. SU￿SSfUllY assisted Save the Asian Elephants with their bid to bring in new legislation, the Animals ILow- Welfare Activities Abroad) Bill which we believe could have a huge impact in ending the sale or advertising of tickets to captive whale and dolphin facilities. Celebrated a victory with Thomas Cook ending the sale of tickets to facilities holding captive whales and dolphins, which WDC had actively campaigned on for many years. Continued lo expose the cruel attempts to trap and experiment on wild minke whales in Norway, which have resulted in the death of one whale already. Next year we shall: Run a public-facing campaign to dissuade outbound British tourists from buying tickets lo dolphinaria when on holiday abroad., Work with an alliance of German organisations to lobby for a phase out of whale and dolphin captivity in Germany., Establish a database of the number, species and locations of whales and dolphins held in captivity around the world., Page 10 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 13154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Undertake research and publish a report on the acquisition of whales and dolphins for the captivity industry, exposing the cruel truth behind captive breeding and live captures of wild individuals. 3. CREATE SAFE SEAS 3A. End bycatch What we achieved this year Worked with creel fishers in western Scotland, with support from the Nature Restoration Fund, lo test whale- friendly approaches to prawn and crab fishing. Completed audits of five UK supermarkets, identifying fishing fleets with a high risk of bycatch and providing recommendations to improve their fishery gupply chains. Opposed, as part of a coalition, the passage of the US Omnibus Bill which delayed action lo reduce rigm whale entanglements - and successfulty urged Congress to release $82 million USD lo conserve and recover North Atlantic right whales. Secured over $200K USD of private and federal foundation funding lo purchase additional gear for the gear lending library. Trialled innovative on4emand gear, in partnership with the Us's National O￿anIC and Atmospheric Administration INOAAI, NGOS, researchers and fishers, and supported contributions to the gear lending library. Analysis of tr40 years of data from 3,960 hauls demonstrated a remarf(able 900/0 success rate of on- demand gear under active commercial fishing conditions. Provided vessel support for 11 field research days for WocKls Hole Oceanographic Institution's photogrammetry study and New England Aquarium's blow collection research, providing integral health assessment data on North Atlantic right whales. Petitioned the US government lo put in place interim emergency vessel speed restrictions. Provided data to NOAA requesting year-round protections south of Martha's Vineyard and Nantucket, following analysis showing a gap in whale protections during the late summer months compared lo NOAAS proposed rule. Presented to the IWC Scientific Committee the findings of our work to help Hong Kong fishermen use GPS and underwater microphones lo reduce the bycatch of vulnerable finless porpoises. Published a report outlining how alternatives to 'pingers' for bycatch prevention can avoid interference with Baltic Sea navy acoustic devices. Next year we shall: Contribute to NOAA'S gear geolocation workshop, increase contributions of additional gear types to the gear lending library and improve safety measures for on-demand gear through a Man Over Board emergency release and an alarm system., Continue to provide vessel operation support to Woods Hole Oceanographic Institution's photogrammetry study., Work w(th partners to petition the US government to implement emergency regulations to protect right whales from vessel strikes and advocate for the release of a permanent rule., Create a cross-cutting group of experts on harbour porpoises, MPAS, policy and the law to gain better protections for harbour porpoises and other Geta￿an$ in the Baltic and North Seas., Present the report on atternative measures to pingers in the Battic Sea to German Federal Agencies, Ministries and EU Commission., Page11 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 14154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Produce a report on our collaboration with Scotland's creel fishers to reduce entanglement of whales and other megafauna through simple gear modifications., Carry out research lo inform an updated global estimate of whale and dolphin bycalch., Research the barriers preventing fishers from switching lo alternative gears with lower risk of bycatch. 3B. Protected areas and safe seas What we achieved this year Protected areas Provided expert wtness to the UK'S Environment, Food and Rural Affairs Select Committee on the state of whale and dolphin protection around the British Isles, and the need for a UK Marine Mammal Protection Act. Set up a new monitoring and implementation programme for our important marine mammal areas IIMMAS) in Peru, Kenya and Malaysia, thanks to funding from the Global Returns Project. Prepared IMMA proposals and more candidate areas for protected status following the successful launch of the UN High Seas Agreement. Worked alongside ORCA and Oceancare to advise shipping companies in the Indian Ocean and the High Seas lo reroute or slow down to reduce the risk of hitting whales in IMMAS. Worked with WWF Pakistan on plans to help the endangered Indian Ocean humpback dolphins living in the Indus River IMMA and other coastal IMMAS. Continued our work on the Isle of Lewis to establish effective protection for the Risso's dolphin MPA, thanks to the ongoing commitment and financial support from Naturescot and the RS Macdonald Charitable Trust. Disturbance Contributed lo Defra guidance wlhin the new Marine and Coastal Wkllife Code on responsible behaviour around marine wildlife. Trained Shorewatch volunteers, and developed new digital tools, to record incidents of marine mammal disturbance. In addition, we raised awareness of disturbance among the public and Scottish parliamentarians at public events and through media appearances on BBC radio, TV and in several Scottish newspapers. Worked with Police Scotland in Moray to create three awareness videos for social media on reducing disturbance and lo support the training of Police call handlers to have greater awareness of marine wildlife disturbance. WDC continues lo liaise closely with the National Wildlife Crime Unit on strategies to reduce harassment of marine mammals, and works with NGO partners to advocate that wildlife crime be made a notifiable in England and Wales, as it is in Scotland. Produced a new VVDC sticker for recreational water users lo give clear advice on how to minimise disturbance when whales and dolphins are encountered at sea. Recruited two new whale watching companies to join W)ale SENSE, our responsible whale watching programme, resulting in a totsl of 49 participating companies along the US east coast and southeast Alaska. Next year we shall: Lobby the national and devolved governments of the UK for more robust protections for whales and dolphins., Lobby to improve protections for internation21 MPAS and for countries to sign and ratify the UN High Seas Agreement., Page 12 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 15154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Announce 33 new IMMAS in the North East Atlantic and Baltic Sea and seek funding to expand the monitoring and implementation programme to three more IMMAS., Bring together 50 regional scientists for an IMMA identification workshop for the western North Atlantic and Caribbean and prepare results for peer review before publication., Create a database, and engage with statutory bodies, on the state and effectiveness of UK MPAS that are important lo whales and dolphins., Campaign to prevent deep sea mining and oil and gas expansion both in the UK and around the world., Advocate to reduce the impact of new developments of offshore renewables on whales and dolphins around the UK., Distribute best practice advice on how to act responsibly when encountering whales and dolphins at sea, via outdoor equipment suppliers and regulatory authorities and through public outreach activities., Collect information on incidents of disturbance of whales and dolphins in Scotland through Shorewatch volunteers and liaise with Police and local wildlife crime officers to focus efforts on preventing and reducing harassment and disturbance, increase police training and general awareness of marine issues. 3C. Species recovery What achieved this year Petitioned the State of Oregon to list Southern Regidenl orcas on itg Endangered Species List. Saw the removal of the first of four Klamath river dams begin, opening up more than 400 miles of watetway to recover salmon, the primary prey of the Southern Resident Orca population. The final three dams are expected to be removed by the end of 2024. Next year we shall: Prioritize the recovery of critically endangered North Atlantic right whales whose precipitous decline has slabilized. 3D. Pollution What V￿ achieved this year Published, with support from Jingle Jam, a report about the impact chemical pollution has on whales and dolphins, developed policy recommendations for our advocacy work, and created an animation outlining the plight of the West Coast Community of orcas lo illustrate the issue. Researched the availability of disposal facilities for end of life IEOL) and abandoned, lost or otherwise discarded fishing gear {ALDFGI in UK ports and harbours. Next year we shall: Produce a report which outlines the lack of availability of disposal facilities for end of life IEOLI and abandoned, lost or otherwise discarded fishing gear IALDFGI in UK ports and harbours, which will be used to lobby Government for changes., Support organisations that undertake the practical removal of gh09t gear in the ocean. Page 13 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 16154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is an incorporated legal entity limited by guarantee, the business of which is governed by its Memorandum and Articles of Association dated 17 November 2008. It is registered as a charity with the Charity Commission in England and Wales and the Office of the Scottish Charity Regulator. As of 30 September 2023, there were eight trustees on the board. Appointment of trustees Trustees are appointed by the board of trustees by a majority vote on a skills basis. Trustees serve for a three-year period and may then be re-elected. Trustee induction New trustees receive information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the strategic plan and re￿nt performance of WDC. They meet key employees and other trustees. Organisation The trustees meet four limes a year to review the strategy and performance of WDC and lo approve operating plans and budgets. To facilitate effective operations, the Chief Executive and senior management have delegated authority, approved by the Iruslees, for operational mallers including finance, employment and policy activities. The trustees approve such strategies and monitor and evaluate their implementation on a regular basis. Goveman¢e Code The trustees are mindful of the principles and recommended practice sel out in the Charity Governance Code and believe the charity applies the principles, as evidenced in this annual report, of organisational purpose, leadership, integrity, decision making, lisk and control. board effectiveness, diversity, openness and accountability. Related parties The charity has three subsidiaries. The trading subsidiary, VVDC {Tradingl Ltd., raises income through merchandise, running a café, licensing and lotteries. 11 Gift Aids any taxable profrts lo the charity. VVDC Germany GmbH, a charitable company under German regulations, was founded to expand awareness of VVDC'S work within Germany and German speaking EU countries. Whale and Dolphin Conservation, Inc., a harilable company under United States regulations, is an organisation with similar aims and objectives as VVDC. The US charity has developed a programme of policy work to enhance international and national efforts of the charity. The charity also financially supports the connected charity WDC Australasia, which was established in October 2003. As well as funding the set up peiiod of this organisation, which has similar aims and objectives to the UK based charrty, WDC also provides management advice as and when required by WDC Australasia. VIDC Australasia continues to assist in the delivery of WDC policy work, both within Australia and New Zealand and internationally. Risk management The trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charitable company and enable them to ensure that the financial 9tatements comply with the Companies Act 2006. They are also responsible for Page 14 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 17154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 safeguarding the assets of the charity and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that.. The charity is operating efficientty and effectivety., Its assets are safeguarded against unauthorised use or disposrtion., Proper records are maintained, and financial information used within the charity or for publication is reliable., The charity complies with relevant laws and regulations The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include.. A strategic plan and an annual budget approved by the trustees., Regular consideration by the trustees of financial results, variance from budgets and non-financial performance indicators., Delegation of authority and segregation of duties., Identification and management of risks. The trustees have reviewed the formal risk management process introduced by the Chief Executive. This process is linked to the strategic plan and reviewed in line with annual planning processes. Systems have been developed to monitor and control these risks.. Identifying the types of risk WDC faces., Prioritising them in terms of potential impact and likelihood- Identifying means of mitigating the risks. These risks and controls are reviewed by the trustees on a regular basis. The four main risks identified as part of the risk management process and the actions we are using to address these risks are.. Current &conomic climate. We are continually assessing the impact of the cost of living crisis on our supporters and funders in line with risk three below. We are also continuing with hybrid working to assist staff with the cost of commuting. 2. Govemmenl Policy. We are still in a period of vncertainty regarding the withdrawal of the UK from the European Union. The major risk is that uncertainty has a negative impact on consumer behaviour. We are also concerned to ensure that the strict level of protection afforded lo cetaceans in current EU law is carried over into UK law and is not diluted under pressure from other countries lo create favourable trade deals. WDC is working with a coalition of UK NGOS to represent its views to government and the EU. We remain receptive lo supporters, views on these issues and continue to keep them informed of our activities through publications and websites and then communicate our collective views to government and agencies. 3. Relience on established income streems." Income from individual giving has stabilised during the period but remains a significant proportion of our income. Whilst we have grown our income from corporate partners, we shall continue to seek to diversify our individual giving to ensure growth but also reduce risk of reliance on one income stream. 4. Ability to keep up to date with supporter segmentation and the impact of technological 8dv8nces which are vital in order to communicate with our supporters and other stakeholders. We recognise that communication via the web and social media is of the utmost importance and are currently updating our websrte to be able to maximise our ability to use the internet in an efficient and effective way. We have an IT service group that regularfy meets to review support and we have hired new staff with specialist e- media experience. We shall continue to be outwardly facing with regard to changes in technology to ensure that WDC is able to maximise our ability lo communicate with stakeholders. Page 15 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 18154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Key Management Pay The pay of key staff is reviewed annually and normally increased in line with any pay increase given throughout the organisalion. VVDC salary bands are reviewed against independent benchmarking surveys at least once in a two-year period. The market data considers charity pay in organisalions of our size (income and slaffj, charity area and location. WDC considers its key management personnel lo be the Trustees and the members of the UK senior management team. Trustees are unpaid. Senior management team salary, except for that of the Chief Executive, is set by the Chief Executive and approved by the Trustees. The Chief Executive's pay is sel by the Trustees. Page 16 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 19154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 FUNDRAISING PRACTICES Despite a very difficult economic and cost of living situation in the UK we were very pleased to exceed our income target for year, increasing income by 290/0 on the previous year, enabling us to deliver even more projects to protect whales and dolphins around the globe. We were incredibly grateful for the generous support we re￿iVed from our donors and partners, both existing and new, and for the faith they place to WDC to protect the species they care so deeply about. In line with our strategie plan, we were very pleased to grow income across several key income streams, with our digital partnerships performing particularly well. Individual Giving Reflecting the challenging economic situation in the UK we saw our database of individual supporters decrease during year. However, l am very pleased to say that we hil our net income target for the year, and our retention rate averaged over 800/0 which is exceptionally high in the sector. Highlights include a cross team effort for our participation in the Big Give Green Match Fund, which exceeded target and raised over £29,000. We are incredibly grateful to Lesley O'mara and Michael O'M2ra Books for their generous matched funding support. As well as their financial support, our passionate and committed supporters, including our incTedible 'Adoplers" helped us to deliver our programmes through their enlhusiaslic support for our campaigns. They enable us to give a voice to whales and dolphins. Partnerships We continue to implement our strategy lo increase income from companies and partnerships and our team went from strength to strength. We worked with a wide range of highly supportive partners across many sectors, including long term partners such as Brita and Animal Friends. Thanks to our ongoing partnership with Deloitte, we have been able to evolve both our strategic thinking and our ne￿orkS and are grateful for the significant impact their ongoing commitment, expert advice and support is having on VVDC'S organisational development, as well as specific projects that advance our conservation efforts. Our Climate Giants initiative continued to provide an excellent opportunty for businesses to get involved in protecting whales and dolphins, as part of their commitment lo protecting the environment. Once again, we worked very closely with the video games industry. We ran our annual World Ocean's Day Steam Sale which raised an astounding £693,000 for WDC, our largest ever donation. This helped to fund a wide range of our work, including a new Head of Safe Seas post and our report into the impact of Climate Change on whales and dolphin, Vvhales in Hol Water. For the 8th consecutive year we were incredibly grateful to be a beneficiary of the Yogscast Jingle Jam annual fundraising event, which raised an exceptional £304,000 for WDC, helping us, amongst many projects, to move forward with our chemical pollution work and expand our citizen science programme. In total Jingle Jam has raised a staggering £2,231,776 for WDC over the past eight years. Philanthropy C receives generous support from a number of individual donors and charitable trusts and foundations, usually towards specific programmes. This support is invaluable as rt allows us lo cary out work that we would not have been able to othetwise undertake. Thanks lo philanthropic support throughout this year, we have been able to move ahead with our Green Vwiale programme and will continue to engage with philanthropic funders as we expand this critical area of work. Page 17 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 20154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Legacies Lastly, we would like to acknowledge our immense gratitude and thanks to everyone who so generously remembered WDC in their will, we continue to be incredibly touched that people chose lo support our work in this way. Regulation C is signed up to the Fundraising Regulator, which oversees fundraising 2Ctivty in the UK, and is fully compliant with its regulations. In the past year we received no complaints from any regulatory body. C maintains a complaints log and no complaints were received about our fundraising activity during the year under review. We fully comply with GDPR regulations, and all new activities are checked against these. In practice IADC has asked supporters for opt-in consent lo all our channels since 2015 and has never shared data with other organisations. C has a small fundraising team, and we wotk closely with a small number of carefully selected specialist fundraising agencies and companies to help us deliver our fundraising activity. We operate to the highest ethical standards in all our fundraising activity and only work with external suppliers who match our standards. To ensure that our fundraising activity is fully compliant, we are regulated by The Gambling Commission for our bi-annual raffle, our TV ads are cleared through Clearcast, and the Advertising Standards Agency regulates our press advertising. We comply with all relevant regulations for our telephone fundraising aclniity and the Give as you Earn agencies we use comply with their regulatory authority. In addrtion, for telephone fundraising, we undertake training with the agency's staff before campaigns, and regularly listen in to and review calls lo ensure that the agency is operating to the highest standards. In line with the requirements under the social responsibility code provision 4.3.1 of the Licence Conditions and Codes of Practice of the Gambling Act 2005, we reFX)rt that of the £22,569 received in ticket sales in 2023, 15.37 /0 went on expenses, 17.72010 went on prizes and a fantastic 66.910/0 came back to WDC to fund our vital work. With all our activity, supporters are given an option to opt out or unsubscribe from fvture communication and we always act upon and respect these requests. We have a vulnerable person policy, which includes escalation guidance, and public facing staff are aware and know when lo escalate. Lastly, we have a Supporters Charter which details our commitment to our supporters. C onty exists thanks to the support of amazing individuals and organisations, we never take this support for granted, and are committed lo acting with the utmost professionalism and respect in all aspects of our work. Page 18 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 21154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 FINANCIAL REVIEW Total income for the year ending 30 September 2023 was £5,941,529 lan increase in income of £1,137,596). The increase came from donations through Partnerships {£1,214kl and Legacies 1£481,4741. The legacy increase was not only in the UK charity with the German charity contributing 27 /0 of total legacy income 12022.. 00/0) and the USA charity 17010 12022.. 0.20/01. Trading income decreased by 170/0 due to lower trading partnerships income, despite an increase in turnover from the café and shop at the Scottish Dolphin Centre. Regular Giving declined slightly for the second year in a row. Where our income came from.. D(mations& Similar income 12% Le8acies MÈrchan(fjse, Raffle. and •a 14% ma8aiine income 66% Royaky and strnilar income Re8u13r giving and adoption proBiarnrnes Charitable expenditure in the year amounted to £5,751,65912022.' £4,784,960) The cost of raising funds has increased from £1,088,699 to £1,370,820. There has been a conscious decision to invest in fundiaising, in staff and attendance at key events. Investment has also begun into a new CRM that will offer a great deal more functionalrty than our Current database that is no longer supported. Increased revenue enabled additional Charitable Activities increasing by 18Q/o over 2022. The overall result was a surplus of £223,381 12022.. £61,215) for the group, bringing reserves to £3,129,898 for the group as a whole of which Restricted funds are £382,773, unrestricted £1,228,274 and designated £1,518,851. Page 19 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 22154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2023 Where the money is spent.. Con*rvaiton & campai8ns Merihan¢thse. raffle & magazine costs io% SupportAlltvities 4% 66% FundraI￿rg (osts Performance of Subsidiaries The US subsidiary had a net surplus of £12,824 in the year. This benefited from a legacy of £141 ,217. The German subsidiary had net income of £214,878, benefiting from a legacy of £220,358 which was notified towards the end of the year. Expenditure also increased on project work, and the balance of the legacies will be used in the future on other policy projects. The Trading company had a profitable year with merchandising bringing in a profil of £79,715k', however, with rising costs the cafe just managed to break-even. Trading Partnerships brought in £105k Reserves Policy DC has a policy of holding sufficient financial reserves to fund current and future activities. Reserves are held lo cover for cash flow fluctuations, to provide for unforeseen costs, to provide for a buffer against a fall in income and lo enable it to lake advantage of unforeseen opportunrties. WDC'S objective is to maintain an appropriate level of resetves lo keep pace with the development of the organisation, with regular reviews being performed of both the reserves policy itself and the level of reserves held. As a result of the most recent review, the trustees have determined that the reserve level which will meet the above objectives is £1,050,000 in unrestricted funds. Increase in Partnership income and legacies has resulted in unrestricted reserves {free reserves) being in ex￿$$ of the targeted minimum reserve amount of £1,050,000 across all four companies in the group. The balance of £1,518,851 has been designated as a strategic resetve. This is being allocated to current and future projects that will allow WDC to invest and grow income in order to implement our strategic plan over the next ￿ years. Page 20 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 23154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢￿pted Accounting Practi￿). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Group and the Charity and of their incoming reSoUr￿S and application of resources, including their income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are required to.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles of the Charities SORP IFRS 1021., make judgements and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements", prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate aceounling records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of infomiation to auditors Each of the persons who are Trustees al the kn'me when this Trustees, report is apporved has confirmed that.. So far as that Trustee is aware, there is no relevant audit information which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order lo be aware of any relevant audit information and to establish that the charity's auditors are aware of that Auditors The Auditors, Bishop Fleming LLP, have indicated their willingness lo continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Iruslees. Approved by order of the members of the board of Trustees and signed on its behalf by. Dr Lisa Drewe Chair of Trustees Dale." 3 JunÈ 2024 Page 21 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 24154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WHALE AND DOLPHIN CONSERVATION OPINION We have audited the fi'nancial statements of Whale and Dolphin Conservation (the 'parent charitable company'l and its subsidiaries Ilhe 'group'l for the year ended 30 September 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Geneolly Accepted Accounting Practice). In our opinion the financial statements". give a true and fair view of the slate of the Group's and of the parent charitable company's affairs as at 30 September 2023 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordan￿ with the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordan￿ with International Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial ststemenls section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate lo provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial slalements, we have concluded that the Trustees. use of the going concern basis of accounting in the preparation of the financial ststemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. Page 22 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 25154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WHALE AND DOLPHIN CONSERVATION (CONTINUED) OTHER INFORMATION The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise expliciuy staled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other informab'on is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit." the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the fi'nancial statements. the Trustees, Report has been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT ON BY EXCEPTION In the light of our kn￿edge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion". the parent charitable Company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitsble company or to cease operations, or have no realistic alternative but to do so. Page 23 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 26154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WHALE AND DOLPHIN CONSERVATION (CONTINUED) AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl, whether due to foud or error, and lo issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assuonce, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregul8rib'es, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, ouuined above, lo delect material misstalemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is detailed below. In identifying and assessing risks of material misstatement in respect of irregularities, including foud and noncompliance with laws and regulations, we considered the following". We have considered the nature of the industry and sector, control environment, and business performan￿., We have considered the results of enquiries with management and the directors in relation lo their own identification and assessment of the risks of irregularities within the entity., and We have reviewed the documentation of key processes and controls and performed walklhroughs of transactions to confirm that the systems are operating effectively, in line with documentation. A5 a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk lo be in relation lo revenue recognition, wlh a particular risk in relation to year*nd cut-off. In common with all audits under ISAS IUKI we are also required to perfomi specific procedures to respond to the risk of management override. We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and UK tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fLJndamental to the Company's ability to operate or avoid a material penalty. These included data prole¢lion legislation, health and safety regulations, and employment law. Our procedures to respond to risks identified included the following.. Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements., Enquiring of management in relation lo actual and potential claims or liligation., Performing analytical procedures lo identify unusual or unexpected relationships that may indicate risks of material misslalement due to fraud., Reviewing board meeting minutes", Performing detailed transactional testing in relation lo the recognition of revenue with a particular focus around the year-end cut off., Performing walkthmughs to understand management's control environment., and In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether the judgments made in accounting estimates are indicative of potential bias., and evaluating the business rabonale of significant transactions that are unusual or outside the normal course of business. Page 24 Virtu8lSignature Transaction Rgl Z943-BQKM-C643 03 Jun 2024 17-.20.-17 BST IUTC +11 D 111 P 27154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WHALE AND DOLPHIN CONSERVATION (CONTINUED) We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert lo possible indicators of fraud or non-compliance with laws and regulations throughout the audit. As a result of the inherent limitations of an audit, there is a risk that not all irregularities. including a material misstatement in the financial slalements or non-compliance with ￿gUlatIOn, will be detected by us. This risk increases the further removed compliance with a law and regulation is from the events and transactions reflected in the financial stalemenls, given we will be less likely to be aware of it, or should the irregularity occur as a result of fraud rather than 8 one off error, as this may involve intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al. www.frc.or .uklauditorsres onsibilities. This description forms part of our Auditors, Report. USE OF OUR REPORT This report is made solely to the charitable company's members, as a body, in accordance wth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitsble company's members those matters we are required to stale lo them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. David Butler FCA DChA (Senior Statutory Auditor) for and on behalf of Bishop Fleming LLP Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS16FL Dale.. 6 June 2024 Page 25 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 28154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestrieted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Note INCOME FROM: Donations and legacies Charitable activities Trading activities Investments 3,903,459 720,067 450,033 29.268 838.702 4,742,161 720,067 450,033 29.268 3,549,835 761,668 486,002 6,428 TOTAL INCOME 5,102,827 838,702 5,941,529 4,803,933 EXPENDITURE ON: Raising funds Charitable activities 1,370.820 3.587.244 1,370.820 4.380.839 1,088,699 3,696,261 793.595 TOTAL EXPENDITURE 4,958,064 793,595 5,751,659 4,784,960 NET INCOME BEFORE NET GAINS ON INVESTMENTS Nel gains on investments Foreign exchange Ilossesllgains 144.763 41,800 18,2891 45.107 189.870 41,800 18,2891 18,973 42,242 NET MOVEMENTS IN FUNDS 178.274 45.107 223.381 61,215 RECONCILIATION OF FUNDS Total funds brought forward Nel movement in funds 2,568,851 178,274 337,666 45,107 2,906,517 223,381 2,845,302 61,215 TOTAL FUNDS CARRIED FORWARD 22 2.747.125 382.773 3.129.898 2,906,517 The Consolidated Statement of Financial Activib'es includes all gains and losses recognised in the year. The notes on pages 30 to 52 form part of these financial statements. Page 26 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 29154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER..2737421 CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2023 2023 2022 Note FIXED ASSETS Tangible assets CURRENT ASSETS 14 108.540 135,064 stocks Debtors Investments Cash al bank and in hand 16 17 18 43.925 817,108 799,685 1,935,605 44,965 615,158 724,785 1,934,650 3.596.323 3,319,538 Creditors." amounts falling due wthin one year 20 1451,984} 1413,7971 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 3,144,339 2,905,741 3.252.879 3,040,805 Creditors." amounts falling due after more than one year 21 {122,9811 1134,2881 TOTAL NET ASSETS 3,129,898 2,906,517 CHARITY FUNDS Reslricled funds 22 382,773 337,666 Unrestricted funds Designated funds General funds 22 1,518,851 1,228,274 1,518,851 1,050,000 22 Total unrestricted funds 22 2,747.125 2,568,851 TOTAL FUNDS 3.129.898 2,906,517 The Trustees acknowledge their resF)onsibililies for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and 8Uthorised for issue by the Trustees and signed on their behalf by.. Lisa Drewe Chair of Trustees Date." 3 JunÈ 2024 The notes on pages 30 to 52 form part of these financial statements. Page 27 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17".20."17 BST IUTC +11 D 111 P 30154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER..2737421 CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 SEPTEMBER 2023 2023 2022 Note FIXED ASSETS Tangible assets CURRENT ASSETS 14 21.590 39,296 Debtors Investments Cash al bank and in hand 17 18 643.231 542,860 1,229,922 616,465 591,109 1,132,208 2,416,013 2,339,782 Creditors.. amounts falling due within one year 20 1364,169} 1331,7481 NET CURRENT ASSETS 2,051,844 2,008,034 TOTAL ASSETS LESS CURRENT LIABILITIES 2,073.434 2,047,330 TOTAL NET ASSETS 2.073.434 2,047,330 CHARITY FUNDS Reslricled funds Unrestricted funds 22 248.046 201,123 Designated funds General funds 22 1,518,851 306,537 896,207 950,000 22 Total unrestricted funds 22 1.825.388 1,846,207 TOTAL FUNDS 2,073,434 2,047,330 The Charity's nel movement in funds for the year was £26,10412022 - £118,07011. The Trustees acknovAedge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Lisa Drewe Chair of Trustees Dale.. 3 June 2024 The notes on pages 30 to 52 form part of these financial statements. Page 28 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 31154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2023 2023 2022 Note CASH FLOWS FROM OPERATING ACTIVITIES Nel cash from operating activities 24 89,109 272,650 CASH FLOWS USED FOR INVESTING ACTIVITIES Purchase of tsngible fixed assets Purchase of investments 14,946} {74,920} 175,0401 1158,5781 NET CASH PROVIDED BY INVESTING ACTIVITIES 179,866) {233,6181 CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR 39.032 Cash and cash equivalents at the beginning of the year Change in cash and cash equivalents due to exchange rate movements 1,934,650 18.289} 1,853,377 42,241 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 25 1.935,604 1,934,650 The notes on pages 30 to 52 form part of these financial statements Page 29 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 32154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 GENERAL INFORMATION The Charity (company number 02737421, charity reg. number 10147051 is a charitable company, limited by guarantee and registered in England and Wales. The registered office address is Brookfield House, 38 St Paul Street, Chippenham, Wiltshire, SN15 1 LJ. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Whale and Dolphin Conservation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis. The Charity has tsken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented ils own Statement of Financial Activities in these financial statements. 2.2 GOING CONCERN The financial statements have been prepared on the going concern basis. The Trustees have considered a period of al least 12 months from the date of approval of the financial slatemenls, and have also assessed various business plans relating lo the potential risks to the Group. Further details on going concern can be found in the Trustees, Report. 2.3 INCOME All income is recognised once the Charity has entillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left lo them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount lo be distributed lo the Charity, can be reliably measured. Income lax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 30 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20".17 BST IUTC +11 D 111 P 33154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES {continued) 2.4 EXPENDITURE Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit to s third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for ils charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is inCUr￿d on direcuy undertaking the activities which further the Group's objectives, as well as any associated support costs. Gonls payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Gonls offered subject to conditions which have not been mel at the year end are noted as 8 commitment, but not accrued as expenditure. All expenditu￿ is inclusive of irrecoverable VAT. 2.5 FOREIGN CURRENCIES Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling al the reporting date. Transactions in foreign currencies are translated into sterling al the rale ruling on the dale of the transaction. Exchange gains and losses are recognised in the Consolidated Statement of Financial Activities. 2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets costing £3,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tsngible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases". Tenants improvements Fixtures, fittings & equipment Computer equipment Over the life of the lease 200/0 straight line per annum 250/0 straight line per annum Page 31 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20".17 BST IUTC +11 D 111 P Y154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES {continued) 2.7 INVESTMENTS Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured at fair value at the Balance Sheet dale, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Consolidated Statement of Financial Aclivilies. 2.8 STOCKS Stocks are valued al the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proF)Ortion of fixed and variable overheads. 2.9 DEBTORS Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any tode discounts due. 2.10 CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.11 LIABILITIES AND PROVISIONS Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are ￿CogniSed at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost. 2.12 OPERATING LEASES Rentsls paid under operating leases are charged lo the Consolidated Statement of Financial Activities on a stoight-line basis over the lease term. 2.13 PENSIONS The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. Page 32 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20".17 BST IUTC +11 D 111 P 35154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES {continued) 2.14 FUND ACCOUNTING General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for Other purposes. Designated funds comprise unreslricled funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial ststemenls. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 33 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20".17 BST IUTC +11 D 111 P 36154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that a￿ believed to be reasonable under the circumstsnces. Critical accounting estimates and assumptions". The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next fi'nancial year are discussed below. Critical areas of judgement". The principal judgements and estimates adopted relate lo the accounting and recognition of legacies and the amount receivable at the year end. Page 34 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 37154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 DONATIONS Individuals Corporate Partnerships Trusts Adoption programme donations 1,808,324 1,069,596 19,877 189,642 37,643 143,998 657,061 1.845,967 1.213,594 676,938 189,642 1,892,775 683,863 437,864 200,787 TOTAL DONATIONS 3,087,439 838,702 3.926,141 3,215,289 Legacies 81 $,020 816,020 334,546 TOTAL LEGACIES 816,020 816.020 334,546 3,903,459 838,702 4,742,161 3,549,835 TOTAL 2022 3,212,678 337,157 3,549,835 Included in the 2023 restricted income above is £127,886 of gonl income that had met the income recognition criteria in the prior year. At the balance sheet date the funds carried forward are correct, and no adjustment has been made lo the prior year numbers. 43 legacies were receivable in the year totalling £816,02012022". £334,546 in respect of 34 legacies). INCOME FROM CHARITABLE ACTIVITIES Unrestrieted funds 2023 Total funds 2023 Total funds 2022 Membership and adoption programmes 720,067 720,067 761,668 TOTAL 2022 761,668 761,668 Page 35 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20".17 BST IUTC +11 D 111 P 38154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 INCOME FROM TRADING ACTIVITIES Unrestricted funds 2023 Total funds 2023 Total funds 2022 Cafe income 143,452 141 124,942 29,171 152,327 143,452 141 124,942 29,171 152,327 115,737 604 111,436 31,102 227, 123 Royalties income Merchandising income Raffle income Other income 450,033 450,033 486,002 TOTAL 2022 486,002 486,002 INVESTMENT INCOME Unrestricted funds 2023 Total funds 2023 Total funds 2022 Interest receivable 29,268 29,268 6,428 TOTAL 2022 6,428 6,428 Page 36 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 39154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 EXPENDITURE ON RAISING FUNDS FUNDRAISING AND TRADING EXPENSES Unrestricted funds 2023 Total funds 2023 Total fLJnds 2022 Merchandise, raffle and magazine costs Fundraising costs 202,733 1,168,087 202,733 1.168,087 237, 196 851,503 1,370,820 1,370,820 1,088,699 TOTAL 2022 1,088,699 1,088,699 ANALYSIS OF EXPENDITURE ON CHARrrABLE ACTIVITIES Summary by fund type Unrestricted Restricted funds funds 2023 2023 Total 2023 Total 2022 Expenditure on Charitable Activities 3,587,244 793,595 4.380.839 3,696,261 TOTAL 2022 3,696,261 3,696,261 10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY Activities undertaken direetly 2023 Support costs 2023 Total funds 2023 Total funds 2022 Expenditure on Charitable Activities 3,804,152 576,687 4,380,839 3,696,261 TOTAL 2022 3,105,240 591,021 3,696,281 Page 37 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 40154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY ICONTINUEDI ANALYSIS OF DIRECT COSTS Total funds 2023 Total funds 2022 Activities 2023 Staff costs Depreciation Grants & Contracts 2,166,736 19,863 610,127 244,595 119,358 142,537 4,110 194,467 36,029 106,601 111,833 45,157 2,739 2,166,736 19.863 610,127 244,595 119,358 142.537 4,110 194,467 36,029 106,601 111,833 45,157 2,739 1,990,058 5,235 283,579 146,242 63,058 75,732 6,819 198,793 77,277 91,229 153,240 2,717 11,024 Fundraising Travel and Accomodation Legal and Professional Bank Charges Office Overheads Staff Development and Support Premises Costs IT Costs Policy Activities Insurance Forex Gainl Loss Realised iii 237 3,804,1 $2 3,804,152 3,105,240 TOTAL 2022 3,105,240 3,105,240 Page 38 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 41154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY ICONTINUEDI ANALYSIS OF SUPPORT COSTS Total funds 2023 Total funds 2022 Activities 2023 Staff costs 110,780 16,434 60,160 8,635 37,713 88,075 84,556 114,402 1,916 1,199 52,817 110,780 16.434 60,160 8,635 37,713 88,075 84,556 114,402 1,916 1.199 52,817 133,606 27,636 34,490 21,476 65,164 36,503 92,971 68,020 38,768 994 71,393 Depreciation Insuran Bank Charges Office Overheads staff Development and Support Premises Costs IT Costs Travel and Accomodation Forex GainlLoss Realised Legal and Professional 576,687 576,687 591,021 TOTAL 2022 591,021 591,021 11. NET INCOMEIIEXPENDITUREI Nel incomellexpenditurel for the year Includes.. 2023 2022 Operating leases Deprecation of tsngible fixed assets Fees paid to auditors for: Audit 137.772 37,099 143,971 22,816 55,457 3.557 51,991 2,260 Non Audit Total 233,885 221,038 Page 39 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 42154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 12. STAFF COSTS Group 2023 Group 2022 Charity 2023 Charity 2022 Wages and salaries Social security costs Contribution to defined contribution pension schemes 3.035.697 305,323 2,617,516 263,808 2.076,108 174,536 1,627,491 144,340 104,583 93,843 91,297 78,261 3.445.603 2,975,167 2.341.941 1,850,092 The average number of persons employed by the Charity during the year was as follows.. Group 2023 No. Group 2022 Charity 2023 Charity 2022 Charitable activities Cost of raising funds Management & adminislralion 45 16 27 14 28 13 20 74 69 50 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. Group 2023 No. Group 2022 No. In the band £60,001- £70,000 In the band £70,001- £80,000 All Trustees and the UK Senior Management Team are considered to be key management personnel. The total amount of employee benefits (including employer pension contributions and employer National Insurance conlributionsl received by key management personnel was £395,456 12022.. £318,484> for 7 personnel12022'. 6 personnel). For Trustees, remuneration, see note 13. 13. TRUSTEES, REMUNERATION AND EXPENSES During the year, no Trustees received any remuneration or other benefils12022 - £NILI. During the year ended 30 September 2023, no Trustee expenses have been incurred12022 - £NILI. Page 40 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 43154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 14. TANGIBLE FIXED ASSETS GROUP Long-term leasehold Fixtures and property fittings Computer equipment Total COST OR VALUATION At 1 October 2022 Additions 40,000 330.295 335.993 4.648 706.288 8.991 At 30 September 2023 40,000 334,638 340,641 715,279 DEPRECIATION At 1 October 2022 Charge for the year 40,000 216,600 27.745 314,624 7.770 571,224 35.515 At 30 September 2023 40,000 244,345 322.394 606.739 NET BOOK VALUE At 30 September 2023 90,293 18,247 108,540 At 30 September 2022 113,695 21,369 135,064 Page 41 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 44154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 14. TANGIBLE FIXED ASSETS ICONTINUEDI CHARITY Long-term leasehold Fixtures and property fittings Computer equipment Total COST OR VALUATION At 1 October 2022 Additions 40,000 185,256 307,336 4.648 532,592 4,648 At 30 September 2023 40,000 185.256 311.984 537.240 DEPRECIATION At 1 October 2022 Charge for the year 40,000 168,405 14,584 284.891 7,770 493,296 22,354 At 30 September2023 40,000 182,989 292,661 515,650 NET BOOK VALUE At 30 September 2023 2.267 19.323 21.590 At 30 September 2022 16,851 22,445 39,296 Page 42 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 45154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 15. FIXED ASSET INVESTMENTS PRINCIPAL SUBSIDIARIES The following are subsidiary undertakings of the Charity.. WDC ITradingl Limited The Charity has a 1000/0 holding of its subsidiary WDC (Trading) Limited Icompany number 025931161, registered in England and Wales. Ils registered office is Brookfield House, 38 St Paul Street, Chippenham, SN15 1LJ, UK. WDC ITradingl Limited had an excess of income of £409,6S3 over expenditure of £334,373, resulting in a profit of £75,290 for the year. The Company's net assets at the year end were £79,715. WDC Germany GmbH The Charity has a 1000/0 holding of ils subsidiary WDC Germany GmbH (company number HRB126158, charity reg number HRB1261581, ￿gIStered in Germany. Its registered office is Implerstrasse 55, 81371, Munch, Germany. WDC Germany GmbH had an excess of income of £891,510 over expenditure of £678,232, resulting in a surplus of £214,878 for the year. The Charity's net assets at the year end were £533,313. WDC INorth America) Inc The Charity has a control of ils subsidiary WDC (North America) Inc through licence agreement and Board membership Icharity reg. number 0452231, registered in United Stales of America. Its registered office is 7 Nelson Street, Plymouth, 02360, MA, USA. WDC (North America) Inc had an excess of income of £962,201 over expenditure of £949,377, ￿SUlting in a surplus of £12,824 for the year. The Charity's net assets at the year end were £443,437. 16. STOCKS Group 2023 Group 2022 Finished goods and goods for resale 43.925 44,965 Page 43 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 46154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 17. DEBTORS Group 2023 Group 2022 Charity 2023 Charity 2022 DUE WITHIN ONE YEAR Trade debtors Amounts owed by group undertakings other debtors Prepayments and accrued income 26,263 5,949 126,961 10 516,260 50,408 10 790,835 609,209 566,057 817,108 615,158 643,231 616,465 18. CURRENT ASSET INVESTMENTS Group 2023 Group 2022 Charity 2023 Charity 2022 Listed investments Unlisted investments 15,739 783,946 4,958 719,807 15,739 527,121 4,958 586, 151 799,685 724,765 542,860 591,109 19. CONTINGENT ASSETS- LEGACY INCOME As of 30 September 2023 the charity had been notified of nil legacies12022.' 11 with an eslimaled value of £Nil12022.' £46,250). Page 44 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 47154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2023 Group 2022 Charity 2023 Charity 2022 Trade creditors 199,816 82,754 18,583 150.831 201,297 51,302 17,029 144,169 170,455 67,705 18,152 107.857 172,650 41,307 17,029 100,762 Other taxation and social security Provisions Accruals and deferred income 451,984 413,797 364,169 331,748 Group 2023 Group 2022 Charity 2023 Charity 2022 Deferred income at 1 October 2022 Resources deferred during the year Other deferred income Amounts released from previous periods 42,619 26,333 14,000 142.619} 33,634 30,619 12,000 133,6341 42,619 26,333 14,000 142.619} 33,634 30,619 12,000 133,6341 40,333 42,619 40,333 42,619 Page 45 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 48154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 21. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group 2023 GTOUP 2022 other loans 122,981 134,288 Under the CARES Act, the US subsidiary received from the Small Business Administration ISBAI Economic Injury Disaster Loan IEIDLI Advance in the amount of £5,970 and Economic Injury Disaster Loan IEIDLI in the amount of £111,940 on 13 June 2020. The advance of £5,970 was forgiven in the 21122 year. WDC IUSI had an obligation to SBA bearing interest 212.750/0. The loan is payable in monthly inslalments of £478, including interest, and is collaleralised by all tangible and intangible personal propety. Included within the above are amounts falling due as follows". BETWEEN TWO AND FIVE YEARS Other loans 12,980 13,020 OVER FIVE YEARS Other loans 110,001 121,268 Page 46 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 49154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 22. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 30 Gainsl September (Losses) 2023 Balance at 1 October 2022 Income Expenditure UNRESTRICTED FUNDS DESIGNATED FUNDS Designated funds 1.518.851 1.518.851 GENERAL FUNDS Free reserves 1,050,000 5,102,827 14,958,064) 33,511 1,228,274 TOTAL UNRESTRICTED FUNDS 2,568,851 5,102,827 14,958,064) 33,511 2,747,125 RESTRICTED FUNDS Critical Habitat Fund 84.546 9,310 24.625 133.8471 19,3101 75.324 Biomass Boiler Fund Important Marine Mammal Project UK & US Project Funds Sousa Project Green Whale Project 160,129 544.630 197,7831 {517.7451 150,0001 184,9101 62,346 182.812 155.927 50.000 37,883 109,318 62,291 337.666 838,702 {793.5951 382.773 TOTAL OF FUNDS 2.906.517 5.941.529 15.751.659) 33.511 3.129.898 Page 47 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 22. STATEMENT OF FUNDS (CONTINUEDI The specific purposes for which the funds are to be applied are as follows". The Critical Habitat fund was raised to support the IMMA monitoring protocol project. The Biomass Boiler fund was provided lo purchase a Biomass Boiler in the year for the Scottish Dolphin Centre. The Important Marine Mammal Project relates to use of consullanls for the development of IMMAS and production of fact sheets. The Sousa project relates to working with the African Aquatic Conservation Foundation lo develop and train a coastal network of fishers, national parks and marine pmtected area staff. Furthermore, the fund relates to the development of conservation professionals and volunteers lo report and respond to marine mammal and sea turtle sightings. The Whale and Dolphin Conservab'on also partnered with seafood companies to educate fishers about protected species. The Green Whale project relates lo mobilising whales and dolphines as natural allies in ocean recovery and climate crisis. The project aims lo promote a radical Iransformab'on in whale and cetacean conservation. UK and US projects includes various projects working on promoting safe seas and ending captivity and hunting. Page 48 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 51154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 22. STATEMENT OF FUNDS (CONTINUEDI STATEMENT OF FUNDS- PRIOR YEAR Balance at 30 Gainsl September ILossesl 2022 Balance al 1 October 2021 Transfers inlout Income Expenditure UNRESTRICTED FUNDS DESIGNATED FUNDS Designated funds 1,413,286 105,565 1,518,851 GENERAL FUNDS Free reserves 1,000,000 4,307,403 {4,194,0801 1105,5651 42,242 1,050,000 TOTAL UNRESTRICTED FUNDS 2,413,286 4,307,403 {4,194,0801 42,242 2,568,851 RESTRICTED FUNDS Critical Habitat Fund 77,904 26,902 {20,2601 84,546 Biomass Boiler Fund Important Marine Mammal Project Orca Research Projects UK & US Project Funds US Education Project Sousa Project Green Whale Project 11,339 12,0291 9,310 16,477 17,950 {34,4271 5,343 15,3431 89,893 421,678 1355,6441 155,927 56,631 98,491 156,6311 {48,4911 50,000 75,938 30,000 {68,0551 37,883 432,016 496,530 1590,8801 337,666 TOTAL OF FUNDS 2,845,302 4,803,933 14,784,960) 42,242 2,906,517 Page 49 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20."17 BST IUTC +11 D 111 P 52154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 23. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestrieted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 108,540 3,213,550 1451,9841 1122,9811 108,540 3,596,323 {451.9841 {122,9811 382,773 TOTAL 2,747,125 382,773 3,129,898 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestricted funds 2022 Reslricled funds 2022 Total funds 2022 Tangible fixed assets Current assets 135,064 2,981,872 1413,7971 1134,2881 135,064 3,319,538 1413,7971 1134,2881 337,666 Creditors due within one year Creditors due in more than one year TOTAL 2,568,851 337,666 2,906,517 Page 50 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20".17 BST IUTC +11 D 111 P 53154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 24. Group 2023 Group 2022 Nel income for the year las per Statement of Financial Acliviliesl 231.670 18,973 ADJUSTMENTS FOR: Depreciation charges Decrease in stocks Decreasellincreasel in debtors Increase in creditors Foreign exchange gainsllosses 31,822 22,818 1,957 131,524 74,225 23,153 1202,291} 38,175 111,307) NET CASH PROVIDED BY OPERATING ACTIVITIES 89.109 272,650 25. ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2023 Group 2022 Cash al bank 1.935,604 1,934,650 26. ANALYSIS OF CHANGES IN NET DEBT At1 October 2022 Cash flows Other non- At30 Cash September changes 2023 Cash al bank and in hand Debt due after 1 year Liquid investments 1.934.650 1134,288} 724,765 954 1.935.604 {122.9811 799,685 11,307 74,920 2.525.127 75.874 11.307 2.612.308 27. PENSION COMMITMENTS The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted lo £104,583 12022.. £93,843). £7,95612022'. £6,784) were payable to the fund at the balance sheet dale and are included in creditors. Page 51 Virtu8lSignalure Tra[w¢t￿ Rgl Z943-BQKWCU3 03 Jun 2024 17."20".17 BST IUTC +11 D 111 P 54154 WHALE AND DOLPHIN CONSERVATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 28. OPERATING LEASE COMMITMENTS At 30 September 2023 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows". Group 2023 Group 2022 Charity 2023 Charity 2022 Not later than 1 year Later than 1 year and not later than 5 years 119,687 283,556 137,393 304,538 82.689 277,438 97,705 269,549 403,243 441,931 360,127 367,254 The following lease payments have been recognised as an expense in the Statement of Financial Activib"es'. Group 2023 Group 2022 Charity 2023 Charity 2022 Operating lease rentals 148,388 143,971 108,989 102,036 29. RELATED PARTY TRANSACTIONS The Charity has taken advantage of the exemption in section 33.1A of FRS 102 in not disclosing intra- group transactions where 1000A of the voting rights are controlled within the Group. A grant of £25,508 12022.. £25,720) was awarded to the Charity by WDC (North America) Inc during the year lo support their projects. WDC (North America) Inc owes the Charity £23,45412022'. £Nill al the year end. A grant of £2,053 12022.. £6,549) was awarded by the Charity to WDC (North America) Inc during the year lo support their projects. The Charity owed WDC (North America) Inc £Nil 12022.. £7461 al the year end. There is a licencing agreement in place bel￿een the Charity and an Australian-based connected charity, WDC Australia, lo use the Charity's logo and brand. Page 52