## 

## 

## 

|1.|Reportofthe Board ofTrustees|`2`|
|---|---|---|
|2.|Reference and administrative details|14|
|3.|Statement ofTrustees' responsibilities|15|
|4.|Independent auditors' report|16|
|5.|Consolidated statement offinancial activities|21|
|6.|Consolidated and Charity balance sheet|`22`|
|7.|Consolidated and Charity Statement of change in equity|`23`|
|8.|Consolidated Cash Flow Statement|24|
|9.|Notes to the financial statements|`25`|





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# `15/07/2021` 



## 

## 

|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**31 Jan 21**|**31 Jan 20**|
|**Income:**|Notes|£|£|£|£|
|**_Income from donations_** & **_legacies_**||||||
|**Donations and gifts**|2|1,553,967||1,553,967|1,956,081|
|**_Income from charitable activities:_**||||||
|**Grants**|3||382,518|382,518|64,202|
|**Operation of establishment**||553,259||553,259|849,489|
|**Rental income**||29,959||29,959|44,938|
|**_Other trading activities_**||||||
|**Commercial trading operations**||498,292||498,292|1,028,873|
|**_Other income_**|4|172,968||172,968|178,862|
|**_Total_**||2,808,445|382,518|3,190,963|4,122,445|
|**Expenditure**||||||
|**_Raising Funds_**||||||
|**Fundraising costs of donations** &||||||
|**gifts**|6|235,945||235,945|363,226|
|**Commercial trading operations**|6|663,147||663,147|903,688|
|**Charitable activities**||||||
|**Operation of establishment and direct**||||||
|**charitable expenditure**|6|2,991,268|229,057|3,220,325|3,166,764|
|**_Total_**|6|3,890,360|229,057|4,119,417|4,433,678|
|**Net (expenditure)/income**||(1,081,915)|153,461|(928,454)|(311,233)|
|**Transfers between funds**||410,074|(410,074)|||
|||(671,841)|(256,613)|(928,454)|(311,233)|
|**Funds brought forward at 1 February**|18|||||
|**2020**||2,847,066|6,566,795|9,413,861|9,725,094|
|**Funds carried forward at 31 January**|18|||||
|**2021**||2,175,225|6,310,182|8,485,407|9,413,861|





## 

## 

|**as at 31 January 2021**||||||
|---|---|---|---|---|---|
|||**Group**|**Group**|**Charity**|**Charity**|
|||**`2021`**|**`2020`**|**`2021`**|**`2020`**|
|||£|£|£|£|
|**_Fixed Assets_**||||||
|Tangible assets|11|8,421,784|9,047,174|8,421,784|9,047,174|
|Investments||||4|4|
|Live exhibits||67,668|67,668|67,668|67,668|
|||8,489,452|9,114,842|8,489,456|9,114,846|
|**_Current assets_**||||||
|Stocks|13|50,912|47,617|||
|Debtors|14|293,691|184,673|410,189|109,878|
|Cash atbankand in hand||1,002,664|646,244|360,836|84,991|
|||1,347,267|878,534|771,025|194,869|
|**_Creditors: amounts falling due within one year_**|**_15_**|(605,858)|(566,678)|(367,024)|(803,622)|
|**_Net current assetsl(liabilities)_**||||||
|||741,409|311,856|404.001|(608,753)|
|**_Total assets less current liabilities_**||9,230,861|9,426,698|8,893,457|8,506,093|
|**_Creditors: amounts falling due after more than one year_**|**_15_**|(745,454)|(12,837)|(745,454)|(12,837)|
|**_Net assets_**||8,485,407|9,413,861|8,148,003|8,493,256|
|**_Funds_**||||||
|Unrestrictedfunds|18|2,175,225|2,847,066|1,861,639|1,926,461|
|Restrictedfunds|18|6,310,182|6,566,795|6,286,364|6,566,795|
|**_Tota/funds_**||8,485,407|9,413,861|8,148,003|8,493,256|





## 

|**or the year ending 31 January 2021**||||
|---|---|---|---|
||_Unrestricted_|_Restricted_|_Total_|
||_Funds_|_Funds_||
||£|£|£|
|At 1 February 2020|2,847,066|6,566,795|9,413,861|
|(Loss) forthe year|(671,841)|(256,613)|(928,454)|
|Total comprehensive (expenditure)|(671,841)|(256,613)|(928,454)|
|As at31 January 2021|2,175,225|6,310,182|8,485,407|
||_Unrestricted_|_Restricted_|_Total_|
||_Funds_|_Funds_||
||£|£|£|
|At 1 February 2019|2,695,950|7,029,144|9,725,094|
|Profit/(Loss)forthe year|151,116|(462,349)|(311,233)|
|Total comprehensive income/(expenditure)|151,116|(462,349)|(311,233)|
|As at 31 January 2020|2,847,066|6,566,795|9,413,861|



## 

|**or the year ending 31 January 2021**||||
|---|---|---|---|
||_Unrestricted_|_Restricted_|_Total_|
||_Funds_|_Funds_||
||£|£|£|
|At 1 February 2020|1,926,461|6,566,795|8,493,256|
|Profit/(Loss) forthe year|(64,822)|(280,431)|(345,253)|
|Total comprehensive income/(expenditure)|86,261|(280,431)|(194,170)|
|As at31 January 2021|1,861,639|6,286,364|8,148,003|
||_Unrestricted_|_Restricted_|_Total_|
||_Funds_|_Funds_||
||£|£|£|
|At 1 February 2019|2,364,045|7,029,144|9,393,189|
|(Loss) forthe year|(437,584)|(462,349)|(899,933)|
|Total comprehensive (expenditure)|(437,584)|(462,349)|(899,933)|
|As at31 January 2020|1,926,461|6,566,795|8,493,256|





## 

|**Consolidated Cash flow statement**<br>**For the year ended 31 January 2021**||||
|---|---|---|---|
||_Notes_|_`2021`_|_`2020`_|
|||£|£|
|**_Cash flows from operating activities_**|**_24_**|(507,683)|395,932|
|**_Cash flows from investing activities_**||||
|Purchase oftangible fixed assets|||(92,374)|
|Interest received||113|206|
|**_Net cash (used) in investing activities_**||113|(92,168)|
|**_Cash flows from financing activities_**||||
|Net receiptfrom / (repaymentofamounts due under) finance leases||||
|Receiptfrom loans received||900,000||
|Repaymentof amounts due under loans||(38,075)|(15,025)|
|Loan interest paid||2,065|2,623|
|**Change in cash and cash equivalents**||356,420|291,362|
|**Opening cash and cash equivalents at 1 Feb**||646,244|354,882|
|**Closing cash and cash equivalents at 31 Jan**||1,002,664|646,244|
|||_`2021`_|_`2020`_|
|**Analysis of cash and cash equivalents**||£|£|
|**Cash at bank and in hand**||1,002,664|646,244|





## 

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## 

## 



## 

## 

## 

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## 

## 



## 

## 

## 

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## 

## 

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## 

## 

## 

## 



## 

## 

|**2.**<br>**Donations and gifts**|||
|---|---|---|
|_Unrestricted_|_2021_|_2020_|
||£|£|
|Individuals (including payments under GiftAid) and other|1,248,043|1,956,081|
|Local Restrictions Grants|16,500||
|Corona Virus Job Retention Scheme|289,424||
||1,553,967|1,956,081|
||-----|-----|



## 

|||_2021_|_2020_|
|---|---|---|---|
|_Restricted_|_Notes_|£|£|
|**Revenue Grants**||||
|Other|18|382,518|64,202|
|||382,518|64,202|





## 

|**4.**<br>**Other income**|||
|---|---|---|
|_Unrestricted_|_2021_|_2020_|
||£|£|
|Interest received from currentbank accounts|113|206|
|Consultancy and external managementcontracts|135,000|135,414|
|Service charge incomefrom buildings|14,471|21,626|
|Sundry income|23,384|21,616|
||172,968|175,862|



## 

## 

## 

||_`2021`_|_`2020`_|
|---|---|---|
||£|£|
|**_Turnover_**|2,375,303|3,371,052|
|Cost ofsales|(305,047)|(586,762)|
|**_Gross profit_**|2,070,256|2,784,290|
|Operating expenses|(2,067,442)|(2,193,901)|
|**_Operating (loss)/profit_**|2,814|590,389|
|Interest receivable, grantand sponsorship income|112|206|
|Interest payable and similar charges|(3,747)|(2,065)|
|Gift aid payment|(585,422)||
|**_(Loss)/Profit on ordinary activities after taxation_**|(586,243)|588,530|
|The aggregate ofthe assets, liabilities andfunds ofthe subsidiary was:|||
||_`2021`_|_`2020`_|
||£|£|
|Assets|585,876|1,141,939|
|Liabilities|(578,411)|(548,231)|
|Shareholders Funds|7,465|593,708|





## 

## 

||_`2021`_|_`2020`_|
|---|---|---|
||£|£|
|Income|1,192,959|1,912,187|
|Expenditure|(953,997)|(1,508,617)|
|Net surplus|238,962|403,570|
|Giftaid paymentto Ocean Conservation Trust Limited|(237,000)|(403,400)|
||1,962|170|
|The aggregate of the assets, liabilities andfunds ofthe subsidiary was:|_`2021`_|_`2020`_|
||£|£|
|Assets|340,930|334,645|
|Liabilities|(10,999)|(6,676)|
|Shareholders Funds|329,931|327,969|





## 

## 

||||Operation of||||||
|---|---|---|---|---|---|---|---|---|
||Support<br>costs|Projects|establishment<br>& charitable|Catering|Retail<br>costs|Depreciation|2021|2020|
||||expenditure||||||
||£|£|£|£|£|£|£|£|
|Fundraising costs|64,515|33,375|138,055||||235,945|363,226|
|Commercial trading<br>operations|||235,224|317,980|109,943||663,147|903,688|
|Establishment/direct<br>charitable|221,321|344,799|2,021,189|7,626||625,390|3,220,325|3,166,764|
||285,836|378,174|2,394,468|325,606|109,943|625,390|4,119,417|4,433,678|



||_General_|_Governance_|_TOTAL_|_TOTAL_|
|---|---|---|---|---|
||_Support_|_Related_|_2021_|_2020_|
||£|£|£||
|Wages & Salaries|167,683|96,195|263,878|300,349|
|Audit fees||21,888|21,888|13,486|
|Professional fees|70||70|83|
|Travel expenses||||597|
||167,753|118,083|285,836|314,515|





## 

## 

|also includes:|||
|---|---|---|
||2021|2020|
||£|£|
|Depreciation|||
|Owned Assets|625,390|622,193|
|Leased assets|||
|Operating Lease Rentals|113,750|113,750|
|Auditors Renumeration|||
|costs ofexternal scrutiny|20,000|13,325|
|non audit|875|3,500|
|Interest under finance lease agreements|||



## 

|Articles ofAssociation, as follows:|||||
|---|---|---|---|---|
|||Group|Charity||
||`2021`|`2020`|`2021`|`2020`|
||£|£|£|£|
|Travel||597||`103`|
|During the year an insurance premium of£3,200 (2020: £2,800) was||incurred in|respect of Trustees'|indem|
|(including officers and directors).|||||
||||2021|2020|
||||No.|No.|
|The number ofTrustees reimbursed for out of|pocket expenses were|||2|





## 

## 

||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2021|2020|2021|2020|
||£|£|£|£|
|Wages and salaries|1,589,170|1,491,490|||
|Social security costs|117,242|107,143|||
|Other pension costs|41,730|37,667|||
|Redundancy Costs|||||
||1,748,142|1,636,300|||



|_2021_|_2020_|
|---|---|
|_No_|_No_|



||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2021|2020|2021|2020|
||No|No|No|No|
|Charitable activities|44|41|||
|Managementand administration ofthe Charity|7|8|||
|Cost ofgeneratingfunds|47|52|||
||98|101|||





## 

## 

## 



## 

||Land &|Plant &|Equipment|Exhibit||
|---|---|---|---|---|---|
|**_Group_**|buildings|fixtures|& computers|enhancements|Total|
|**_Cost:_**|£|£|£|£|£|
|At 1 February 2020|13,733,317|5,621,862|925,364|1,880,804|22,161,347|
|Additions||||||
|Transfers||||||
|Disposals||||||
|At31 January 2021|13,733,317|5,621,862|925,364|1,880,804|22,161,347|
|**_Depreciation:_**||||||
|At 1 February 2020|5,779,543|4,724,600|768,095|1,841,935|13,114,173|
|Chargefor the year|320,774|237,644|53,995|12,980|625,390|
|Disposals||||||
|At 31 January 2021|6,100,314|4,962,244|822,090|1,854,915|13,739,563|
|**_Net book amount_**||||||
|At31 January 2021|7,633,003|659,618|103,274|25,889|8,421,784|
|**_Net book amount_**||||||
|At 1 February 2020|7,953,774|897,262|157,269|38,869|9,047,174|





## 

## 

|**_Charity_**|Land &<br>buildings|Plant &<br>fixtures|Equipment<br>&<br>computers|Exhibit<br>enhancements|Total|
|---|---|---|---|---|---|
||£|£|£|£|£|
|**_Cost:_**||||||
|At 1 February 2020|13,733,317|5,621,115|636,479|1,795,622|21,786,533|
|Additions||||||
|Transfers||||||
|Disposals||||||
|At 31 January 2021|13,733,317|5,621,115|636,479|1,795,622|21,786,533|
|**_Depreciation:_**||||||
|At 1 February 2020|5,779,543|4,695,082|508,048|1,756,686|12,739,359|
|Chargefor the year|320,771|237,644|53,995|12,980|625,390|
|Disposals||||||
|At 31 January 2021|6,100,314|4,932,726|562,043|1,769,666|13,364,749|
|**_Net book amount_**||||||
|At 31 January 2021|7,633,003|688,389|74,436|25,956|8,421,784|
|**_Net book amount_**||||||
|At 1 February 2020|7,953,774|926,033|128,431|38,869|9,047,174|





## 

## 



## 

|**13.**|**Stocks**|||||
|---|---|---|---|---|---|
||||Group||Charity|
|||2021|2020|2021|2020|
|||£|£|£|£|
|Goods|for resale|50,912|47,617|||



|**4.**<br>**Debtors**|||||
|---|---|---|---|---|
||Group|Group|Charity|Charity|
||2021|2020|2021|2020|
||£|£|£|£|
|Trade debtors|66,146|34,687|63,643|23,041|
|Other debtors|7,837|18,823||8,539|
|Prepayments and accrued income|219,708|131,163|128,894|78,298|
|Amounts duefrom subsidiary undertaking|||217,652||
||293,691|184,673|410,189|109,878|



## 

||_Group_|_Group_|_Charity_|_Charity_|
|---|---|---|---|---|
|**Due within one year**|_`2021`_|_`2020`_|_`2021`_|_`2020`_|
||£|£|£|£|
|Trade creditors|98,744|268,159|29,476|26,241|
|Other creditors|21,962|23,059|1,842||
|Other taxation and social security|6,038|60,007|7,809||
|Finance leases and similar agreements|||||
|Loan|144,333|15,025|144,333|15,025|
|Accruals and deferred income|334,781|200,428|183,564|72,514|
|Amounts owed togroup undertakings||||689,842|
||605,858|566,678|367,024|803,622|
|Due after one year|||||
|Loans and borrowings|745,454|12,837|745,454|12,837|





## 

|**For the year ended 31 January 2021**<br>**16.**<br>**Loans and borrowings**|||||
|---|---|---|---|---|
|||Group||Charity|
|Non-current loans and borrowings|2021|2020|2021|2021|
||£|£|£|£|
|Bank borrowings- due in 2-5 years|672,728|12,837|672,728|12,837|
|Bank borrowings - due over 5 years|72,726||72,726||
||745,454|12,837|745,454|12,837|



|||Group||Charity|
|---|---|---|---|---|
||2020|2019|2020|2019|
||£|£|£|£|
|Not later than one year|||||
|Later than one year and not later than five years|||||





## 

## 

## 

|**18.**<br>**Fund balances**|**18.**<br>**Fund balances**|||||
|---|---|---|---|---|---|
|**Group:**|Balance at|Incoming<br>resources|Resources<br>expended|Transfers<br>between<br>funds|Balance at|
||1 February 2020||||31 January 2021|
||£|£|£|£|£|
|**Restricted Funds:**||||||
|Restricted capital grants|6,566,795|||(410,074)|6,156,721|
|Restricted revenue||||||
|grants||382,518|(229,057)||153,461|
||6,566,795|382,518|(229,057)|(410,074)|6,310,182|
|**Unrestricted funds**|2,847,066|2,808,445|(3,890,360)|410,074|2,175,225|
||9,413,861|3,190,963|(4,119,417)||8,485,407|
|**Charity:**|Balance at|Incoming<br>resources|Resources<br>expended|Transfers<br>between<br>funds|Balance at|
||1 February 2020||||31 January 2021|
||£|£|£|£|£|
|**Restricted Funds:**||||||
|Restricted capital grants|6,566,795|||(410,074)|6,156,721|
|Restricted revenue||||||
|grants||291,862|(162,214)||129,648|
||6,566,795|291,862|(162,214)|(410,074)|6,286,369|
|**Unrestricted funds**|1,926,461|1,197,101|(1,672,002)|410,074|1,861,634|
||8,493,256|1,488,963|(1,834,216)||8,148,003|





## 

## 

## 

|**Restricted Revenue Grants**|Balance at|Incoming|Resources|Balance at|
|---|---|---|---|---|
||1 February<br>2020|resources|expended|31 January<br>2021|
||£|£|£|£|
|Project Income - EMFF Devon Scallop||24,771|24,771||
|Project Income - Reverberations||4,000|4,000||
|EU Life Recreation ReMEDIES||106,313|106,313||
|MSC Eco Moorings||2,308||2,308|
|Other Grant Income||29,470|7,835|21,635|
|HLF - Green Challenge Recovery Fund||125,000|19,295|105,705|
|Defra Zoo Animals Fund||90,656|66,843|23,813|
|||382,518|229,057|153,461|



## 

||Restricted<br>Funds|Unrestricted<br>Funds|Total|
|---|---|---|---|
||£|£|£|
|Tangiblefixed assets|6,156,721|2,265,063|8,421,784|
|Live exhibits||67,668|67,668|
|Currentassets|82,484|1,264,783|1,347,267|
|Creditors (inc longterm loans)||(1,351,312)|(1,351,312)|
||6,310,182|2,175,225|8,485,407|





## 

## 

||||Group||
|---|---|---|---|---|
|||2021||2020|
||Land|Other|Land|Other|
||and|operating|and|operating|
||buildings|leases|buildings|leases|
||£|£|£|£|
|Within one year-|105,000||105,000|33,674|
|Between two and five years-|420,000|14,410|420,000|14,410|
|Morethan five years|10,010,000|-|10,115,000||
||10,535,000|14,410|10,640,000|48,084|



|||Charity|Charity||
|---|---|---|---|---|
|||2021||2020|
||Land|Other|Land|Other|
||and|operating|and|operating|
||buildings|leases|buildings|leases|
||£|£|£|£|
|Withinone year|105,000||105,000||
|Betweentwoandfive years|420,000||420,000||
|More thanfive years|10,010,000|-|10,115,000||
||10,535,000|-|10,640,000||



## 



## 

## 

## 

||Charity continuing|operations|
|---|---|---|
||2021|2020|
||£|£|
|Grant income|291,862|64,202|
|Operating expenses|(1,834,216)|(1,728,123)|
|Other income|1,197,101|766,611|
|Operating loss|(345,253)|(897,310)|
|Interest payable||2,623|
|Interest receivableand similar income|||
|Deficit ofexpenditure over income for the year|(345,253)|(899,933)|
|||Charity|
|||£|
|Total funds at 1 February 2020||8,493,256|
|Excess of expenditure over incomefor the year||(345,253)|
|Totalfunds as at 31 January 2021||8,148,003|



## 

||2021|2020|
|---|---|---|
||£|£|
|Netoutgoing resources for the year|(928,454)|(311,233)|
|Depreciation oftangiblefixed assets|625,390|622,193|
|(lncrease)/decrease in stocks|(3,295)|14,178|
|(increase)/decrease in operating debtors|(109,018)|(35,778)|
|lncrease/(Decrease) in operating creditors|(90,128)|109,401|
|Interest receivable|(113)|(206)|
|Interest payable|(2,065)|(2,623)|
|Net cash inflow from operating activities|(507,683)|395,932|





## 

## 

|||||**At1**||**At 31**|
|---|---|---|---|---|---|---|
|||||**February**<br>**2020**|**Cash-**<br>**flows**|**January**|
|||||||**2021**|
|||||£|£|£|
|Cash||||646,244|356,440|1,002,664|
|Loans|falling|due|in one year|(15,025)|(129,308)|(144,333)|
|Loans|falling|due|after more than one year|(12,837)|(732,617)|(745454)|
|||||618,382|(505,485)|112,877|



## 

|In Respect of:|Amount|In Respect of:|Amount|Year End|Year End|
|---|---|---|---|---|---|
||Incurred||Received|Balance|Balance|
|||||2021|2020|
|Creative design|Nil|Creative design|Nil|Nil|Nil|
|services||services||||
|Fundraising|Nil|Consultancy|Nil|Nil|Nil|
|Educational visits<br>and corporate|Nil|Educational visits<br>and corporate|Nil|Nil|£1,206|
|events||events||||
|Professional fees|£2,734|Legal advice||£174|£1,670|





## 

|asfollows:|||
|---|---|---|
|_Group_|_2021_|2020|
||£|£|
|Excess ofcapital allowances over depreciation|||
|Deferred taxation liability not recognised|||