2023-01-31-accounts - Ocean Conservation Trust Limited

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Annual Trustees' report	Annual Trustees' report
Independent	Auditor's Report to the		Trustees
Consolidated	Statement	of Financial	Activities
Balance sheets
Consolidated	statement	ofchanges	in equity
Consolidated	Cash flow	statement
Notes to the	Financial Statements

							Total	Total
					Unrestricted	Restricted	31 Jan	31Jan
				Note	Funds	Funds	2023	2022
Income:					K000	K000	K000	F000
Income from donations 4legacies
Donations and gifts					2,557	64	2,621	2,644
Income from charitable activities:
Grants					22	427	449	723
Operation ofestablishment					1,666		1,666	845
Rental income					135		135	38
Other trading activities
Commercial trading	operations				1,143		1,143	705
Other income					383		383	264
Total					5,906	491	6,397	5,219
Expenditure
Raising Funds
Fundraising costs of	donations		&
gifts					(101)		(101)	(283)
Commercial trading	operations				(837)		(837)	(663)
Charitable activities Operation ofestablishment direct charitable expenditure Total		and		6 6	~4,054 ~4,992	~692 ~692	~4,746 ~5,654	~3,507 ~4,453
Net income					914	~201	713	766
Transfers between	funds				124	(124)
Funds brought forward atI
February 2022				17	3,492	5,759	9,251	8,485
Funds carried forward at		31
January 2023				17	4,530	5,434	9,964	9,251

				Group	Group	Charity	Charity
				2023	2022	2023	2022
Fixed Assets				F000	k 000	E000	E000
Tangible assets			11	7,678	7,933	7,678	7,933
Investments
Live exhibits				68	68	68	68
				7,746	8,001	7,746	8,001
Current assets
Stocks			13	35	30
Debtors			14	570	339	703	537
Cash at bank and	in	hand		3,200	2,239	2,871	469
				3,805	2,608	3,574	1,006
Creditors: amounts year		falling due within one	14	~996	~765	~1.163	~534
Net current assets				2,809	1,823	2,411	472
Total assets less	current liabilities			10,555	9,824	10,157	8,473
Creditors: amounts than one year		falling due after more	15~591		~573	~591	~573
Net assets				9,964	9,251	9,566	7,900
Funds
Unrestricted funds			17	4,530	3,492	4,132	2,141
Restricted funds			17	5,434	5,759	5,434	5,759
Total funds				9,964	9,251	9,566	7,900

				Unrestricted	Restricted
				Funds	Funds	Total
				F000	F.000	F.000
At 1 February 2022 Income / (expenditure) Total comprehensive	for the year Income / (expenditure)			3,492 1,038 1,038	5,759 ~325 ~325	9,251 713 713
As at 31 January 2023				4,530	5,434	9,964
				Unrestricted Funds	Restricted Funds	Total
				OOOO	FOOO	OOOO
At 1 February 2021				2,175	6,310	8,485
Income / (expenditure)	for the year			1,317	~551	766
Total comprehensive	Income	/ (expenditure)		1,317	~551	766
As at 31 January 2022				3,492	5,759	9,251
Statement ofchanges			in equity—
Charity Year ended 31 January 2023				Unrestricted Funds FOOO	Restricted Funds FOOO	Total FOOO
At 1 February 2022 Income / (expenditure) for the Total comprehensive Income		year / (expenditure)		2,141 1,991 1,991	5,759 ~325 ~325	7,900 1,666 1,666
As at 31 January 2023				4,132	5,434	9,566
				Unrestricted	Restricted
				Funds	Funds	Total
				FOOO	OOOO	OOOO
At 1 February 2021 Income / (expenditure)	for the	year		1,862 278	6,286 ~527	8,148 248
Total comprehensive Income		/ (expenditure)		278	~527	248
As at 31 January 2022				2,141	5,759	7,900

						2023	2022
						K000	K000
Cash flows	from	operating	activities		23	1,291	1,485
Cash flows	from	investing	activities
Purchase of	tangible fixed assets					(334)	(97)
Net cash (used) ininvesting			activities			(334)	(97)
Cash flows	from	financing	activities
Loans received						203
Repayment	ofamounts due		under loads			(179)	(148)
Loan interest	paid					(20)	(4)
Change in cash and cash equivalents						961	1,236
Opening cash and cash equivalents				at 1 Feb		2,239	1,003
Closing cash and cash equivalents				at 31Jan		3,200	2,239
Analysis of	cash	and cash	equivalents			2023	2022
						r 000	6000
Cash at bank and		in hand				3,200	2,239
Increase in	cash					961	1,236

2.Donations	&Gifts
			Unrestricted	Restricted
			funds	funds	2023	2022
			f000	F000	f 000	f000
Individuals (including payments under Gift Aid) and other			2,557	64	2,621	2,426
Local/Additional	Restrictions	Grant				104
Corona Virus Job Retention		Scheme				114
			2,557	64	2,621	2,644

		Unrestricted	Restricted
		funds	funds	2023	2022
Revenue Grants	Notes	f000	f000	f000	F000
Other		22	427	449	723
		22	427	449	723

4.Other income			2023	2022
Unrestricted			f000	F000
Consultancy and external	management	contracts	147	135
Service charge income from buildings			32	19
Sundry income			204	110
			383	264
All income in the year was	unrestricted	(2022:F264k).

Profit and	loss account	loss account	2023	2022
			F000	K000
Turnover			1,143	4,028
Cost ofsales			(531)	(354)
Gross profit			612	3,674
Operating	expenses		(565)	(2,667)
Operating	profit		47	1,007
Gift aid payment		made	1,005
			958	1,007

The aggregate	ofthe assets, liabilities and fu	nds ofthe subsidiary was:
		2023	2022
		R000	R000
Assets		389	1,509
Liabilities		(332)	(494)
Shareholders'	funds	57	1,015

n a line by line basis in the SOFA. A summary ofth	e results ofthe subsidiary	is shown below
Statement offinancial activities	2023	2022
	F000	R000
Income Expenditure	5	2,286 ~1,818
Net surplus	5	476

The aggregate ofthe assets, liabilities	and funds ofthe subsidiary was:
	2023	2022
	F000	R000
Assets	433	497
Liabilities	(92)	(161)
	341	336

		Fundraising	Operation of
		Costs of	Establishment
		Donations	&Charitable	Governance	Commercial	Total	Total
		and Gifts	Activities	Costs	Trading	2023	2022
		F000	K000	K000	K000	K000	F000
Catering					446	446	340
Projects		99	449			548	1,076
Operation	of
establishment			3,626		108	3,740	2,077
Retail					283	283	157
Depreciation			590			590	585
Support costs				77		77	218
		101	4,665	81	837	5,684	4,453

running ofthe retail gift shop, ca Analysis ofsupport costs	fe and corporate I private e	vents.
	General	Governance	Total	Total
	Support	Related	2023	2022
	K000	K000	F000	K000
Wages &Salaries		21	21	198
Auditor		33	33	20
Professional	16		23
	16	61	77	218

		2023	2022
		F000	F000
Depreciation
	Owned Assets	590	585
	Leased assets
Operating	Lease Rentals		114
Auditors	Renumeration
	costs ofscrutiny	22	20
	non audit	18	9

he agg	regate payroll costs were	as follows:
		Group	Group	Charity	Charity
		2023	2022	2023	2022
		K000	6000	F000	6000
Wages	and salaries	1,664	1,547	1,311
Social	security costs	133		109
Other	pension costs	54	41	38
		1,851	1,699	1,458

					2023	2022
					No.	No.
680,000 -	689,999				1	1
The number	of full and part time employees		during the year was as follows:
			Group	Group	Charity	Charity
			2023	2022	2023	2022
Charitable	activities		55	59	55
Management and administration
Cost of generating		funds	44	57
			106	125	62

			Equipment
	Land &	Plant &	&
Group:	buildings	fixtures	computers	Exhibits	Total
	F000	F000	E000	F000	F000
Cost:
At 1 February 2022	13,733	5,695	925	1,905	22,258
Additions		271	44	19	334
At 31 January 2023	13,733	5,966	969	1,924	22,592
Depreciation:
At 1 February 2022	6,421	5,194	841	1,868	14,324
Charge for the year	321	241	12	16	590
At 31 January 2023	6,742	5,435	853	1,884	14,914
Net book amount
At 31 January 2023	6,991	531	116	40	7,678
Net book amount
At 1 February 2022	7,312	500	84	37	7,933

			Equipment
	Land &	Plant 8	&
Charity:	buildings	fixtures	computers	Exhibits	Total
	E000	E000	R000	F000	R000
Cost:
At 1 February 2022	13,733	5,695	925	1,905	22,258
Additions		271	44	19	334
At 31 January 2023	13,733	5,966	969	1,924	22,592
Depreciation:
At 1 February 2022	6,421	5,194	841	1,868	14,324
Charge for the year	321	241	12	16	590
At 31 January 2023	6,742	5,435	853	1,884	14,914
Net book amount
At 31 January 2023	6,991	531	116	40	7,678
Net book amount
At 1 February 2022	7,312	500	84	37	7,933

				Group	Group		Charity	Charity
				2023	2022		2023	2022
13.Stocks				K000	F000		K000	F000
Goods for resale				35	30
The difference	between	the purchase	price	ofstocks and their replacement		cost is not material.
Included in the	Charity	debtors are amounts		due from subsidiary	undertakings		ofF180k(2022:
F312k), that are due after more than			one year.

14.Debtors			Group	Group	Charity	Charity
			2023	2022	2023	2022
			F000	R000	F000	F000
Trade debtors			346	83	329	70
Other debtors			41		24
Prepayments	and accrued income		183	163	170	155
Amounts due	from subsidiary	undertaking			180	312
			570	339	703	537

				Group	Group	Charity	Charity
15.Creditors: amounts			falling due within
one year				2023	2022	2023	2022
				F000	6000	E000	E000
Trade creditors				428	134	372	92
Other creditors				58	61	22	29
Other taxation and social			security	121	103	57	37
Loan				179	169	179	169
Accruals	and deferred	income		210	318	121	207
Amounts	owed to group undertakings					412
				996	785	1,163	534
Due after one year
Loans and borrowings				591	573	591	573
Deferred	income - Group					2023	2022
						f.000	f.000
Balance	at 1 February	2022				189	6
Released	in year					(189)	(6)
Deferred	in year					70	189
Balance	at 31 January	2023				70	189
Deferred	income - Charity
Balance	at 1 February	2022
Released	in year
Deferred	in year					10
Balance	at 31 January	2023				10

				Group	Group	Charity	Charity
16.Loans	and borrowings			2023	2022	2023	2022
				k 000	F000	k 000	E000
Non-current	loans and		borrowlngs
Bank borrowings		-due	in 2-5years	591	573	591	573
Bank borrowings		-due	over 5years
				591	573	591	573

				Balance
				at1			Transfers	Balance at
				February	Incoming	Resources	between	31January
Group:				2022	resources	expended	funds	2023
				F000	k 000	k 000	k 000	F000
Restricted		Funds:
Restricted	capital grants			5,721		(436)		5,285
Restricted	donations				64			68
Restricted	revenue		grants	34	427	~256	~124	81
				5,759	491	~692	~124	5,434
Unrestricted		funds
General Funds				3,477	5,857	(4,992)	124	4,466
Designated		Funds		15	49			64
				9,251	6,397	~5,694		9,964

				Balance
				at1			Transfers	Balance at
				February	Incoming	Resources	between	31January
Charity:				2022	resources	expended	funds	2023
				F000	F.000	F.000	F.000	F000
Restricted		Funds:
Restricted	capital grants			5,721		(436)		5,285
Restricted Restricted	donations revenue		grants	4 34	64 427	~256	~124	68 81
				5,759	491	~692	~424	5,434
Unrestricted		funds
General Funds				2,126	5,720	(3,902)	124	4,068
Designated		Funds		15	49			64
				7,900	6.266	~4,594		9,566

harge in 20	23was	8436k (202	2:F436k).
							Balance
			Balance at				at 31
			1 February	Incoming	Resources		January
Restricted	Revenue Grants		2022	resources	expended	Transfers	2023
			F000	F000	F.000	F.000	F.000
EU Life Recreation		Remedies
MSC Eco Moorings
Other Grant	Income		17	52	(49)		20
HLF - Green	Challenge
Recovery Fund			16	42	(58)
Scottish Power Foundation				98	(37)		61
ARG - PCC				124		(124)
			34	427	~256	~424	81

Notes to the Financial Statem or the year ended 31January 2023	ents
18.Analysis ofgroup net assets	Restricted	Unrestricted
between funds at 31January 2023	Funds	Funds	Total
	F.000	F.000	F000
Tangible fixed assets	5,285	2,393	7,678
Live exhibits		68	68
Current assets	149	2,660	2,809
Creditors		591	591
	5,434	4,530	9,964

Group
	2023	2023	2022	2022
	Land 8	Other	Land &	Other
	buildings	leases	buildings	leases
	K000	K000	F000	F000
Within one year	105	14	105
Between two and five years	420	17	420
More than five years	9,800		9,905
	10,325	31	10,430

Charity
	2023	2022	2023	2022
	Land 8	Other	Land &	Other
	buildings	leases	buildings	leases
	K000	K000	F000	F000
Within one year	105	14	105
Between two and five years	420	17	420
More than five years	9,800		9,905
	10,325	31	10,430

lymouth to a local fish restaurant. The following	amounts are due t	o the group/	charity:
	Group		Charity
	2023	2022	2023	2022
	K000	OOOO	FOOO	6000
Not later than one year	56	45	56	45
Later than one year and not later than five	224	180	224	180
years
Later than five years	569	503	569	503
	849	728	849	728

2.Income and expenditure accou	nt and t	otal funds —C	harity
			Charity continuing	operations
			2023	2022
			F000	E000
Grant income			427	715
Operating expenses			(3,568)	(1,536)
Other income Operating surplus Interest payable Surplus / (deficit) of income over expenditure		for the year	4,827 1,686 ~26 2,666	577 (244) ~4 ~246
				Charity
				6000
Total funds at 1 February 2022				7,900
Surplus of income over expenditure	for the year			1,666
Total funds as 31 January 2023				9,566

3.Reconciliation of	n	et incom	e to net cash inflow from	operating activities
				2023	2022
				F000	K000
Net incoming resources		for the	year	713	766
Depreciation oftangible		fixed assets		590	585
(Increase) Idecrease	in stocks			(5)	21
(Increase) in operating		debtors		(231)	(45)
Increase in operating	creditors			204	154
Interest payable				20
Net cash inflow from operating			activities	1,291	1,485

	2022	Cash flows	2023
	R000	R000	F.000
Cash	2,239	961	3,200
Loans falling due in one year Loans falling due after one year	(169) ~573	(10) ~15	(179) ~591
Net Funds	1,497	933	2,430

uring the year the Oc ollowing organisations	ean Conservation Trust Group in which Trustees and Senior	purchased goods or services fro Managers had an interest.	m the
In respect ofamounts	incurred:	2023	2022
Legal advice		E4,982	F12,325