Registered number: 03692403 Charity number: 1073327
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 10 |
| Independent Examiner's Report | 11 - 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 - 15 |
| Statement of Cash Flows | 16 |
| Notes to the Financial Statements | 17 - 35 |
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
| Trustees | M Caney |
|---|---|
| S M Smith (Formerly Pleydell) | |
| T A Richardson | |
| K N Valette | |
| Company registered number 03692403 Charity registered number 1073327 Registered office The Pavilions Bridgwater Road Bristol BS13 8AE Company secretary S M Smith (Formerly Pleydell) Director Senior Management Team Danna Moore Ian Campbell, Associate Director, Policy and Campaigns Kian Clineff, Associate Director, Operation (US Office) Independent Examiner Richard Bott FCA Mazars LLP Chartered Accountants 90 Victoria Street Bristol BS1 6DP Bankers Barclays Bank plc Park House New Brick Road Stoke Gifford Bristol BS34 8ZJ |
Page 1
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the financial statements of Project Aware Foundation for the 1 January 2020 to 31 December 2020. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In shaping our objectives for the year and planning out activities, the trustees have considered the Charity's Commission guidance on public benefit, including the guidance "public benefit: running a charity (PB2)".
The charity's objectives are to:
Empower and bring together a worldwide community of scuba divers in more than 180 countries by providing them with the tools, resources and inspiration to take actions - large and small - that contribute to advancing the health of the ocean.
The charity meets these objectives through the development of its key campaign areas under its overarching mission to connect the passion for adventure with the purpose of marine conservation:
1) Clean Ocean; and
2) Healthy Ocean.
b. Review of Activities
A New Decade of Ocean Science
Staying true to our values of collaboration and knowing we are stronger together, Project AWARE is committed to facilitating the citizen science we need for the ocean we want.
From working to secure trade controls for vulnerable marine species, to building an army of Dive Against Debris® activists taking our flagship underwater citizen science programme to the next level, 2020 saw Project AWARE actively leverage community action across the globe.
Scuba divers have been carrying the Project AWARE torch for ocean protection since the late 1980's. Time and time again, the dive community has proven that their collective actions and support matter, and 2020 was no different despite the challenges of a global pandemic. Whether divers report rare shark sightings, monitor coral reefs' health, or submit marine debris data, every piece of information, every survey submitted is a key part of helping sustainably manage the world’s marine ecosystems.
Project AWARE is partnering with scientists and other key organizations to analyse the Dive Against Debris dataset in order to inform research and policy change, advancing our knowledge and understanding regarding marine debris.
Page 2
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
Project AWARE is building an increasingly comprehensive global dataset that can be used to help inform effective prevention measures to stop further debris entering the ocean and thus helping to reduce ecosystem degradation. Countries can use Dive Against Debris data to advance policies and legislation at national and international levels. Additionally, Project AWARE is committed to working with countries to help them identify where they may need to focus their efforts, based on what is reported through Dive Against Debris.
Our community not only includes individual ocean lovers but also businesses, NGOs, and corporate partners who share our passion for the underwater world. Over the last 12 months, we have continued our work with the Shark League, Global Ghost Gear Initiative, Seas At Risk, and our 100% AWARE partners to name just a few.
Together with the Shark League - a coalition focused on responsible regional conservation of sharks and rays - Project AWARE is working towards securing science-based shark and ray catch limits and strict protections for endangered species.
Project AWARE is committed to working with Global Ghost Gear Initiative partners to support the adoption of a Best Practice Framework for the Management of Fishing Gear as well as promoting ghost gear reduction measures at RFMOs. Together we are committed to tackling abandoned, lost and otherwise discarded fishing gear on a global scale.
Taking action with Project AWARE for a clean and healthy ocean helps support a sustainable and resilient future for people and the planet. Throughout 2020 and looking towards this new decade of ocean science, Project AWARE is committed to providing a platform to accelerate community-led efforts and secure science-based conservation measures to protect and restore the ocean at local, national, and international levels.
Bringing the Ocean Home
Throughout 2020, Project AWARE responded to the unprecedented COVID-19 pandemic by taking fins off actions that kept people, passionate about ocean conservation, connected during this crisis. Above and beneath the waves, or from our homes, we stood together for a healthy ocean planet.
Together with our global network of ocean enthusiasts and dive leaders, we shifted our passion, energy, and creativity in new ways to mobilize the world to act for a clean and healthy ocean. We know we have amazing leaders in our global community. Some are 100% AWARE partners, others are Adopt a Dive Site® ambassadors. The Project AWARE team remained determined, doing everything we could to remain available to provide support and innovative ways to continue to stay connected through online opportunities to learn and take action for a return to a clean and healthy ocean – from online courses, to webinars, to social media campaigns.
Through periods of isolation and anxiety, it was important to remember that we are all connected. That’s why Project AWARE continued to connect people to the ocean online and offline in 2020, because the ocean connects us all. We are united by our shared passion for the ocean, and we see perhaps more clearly than ever that human health and wellbeing are interwoven with ocean and planetary health.
Community Action for the Ocean
AWARE Week 2020
- Divers around the globe joined forces from 19th – 27th September 2020 to protect ocean health in honour of AWARE Week 2020. The third annual weeklong event took new forms this year as divers and dive leaders participated online, in their communities, and in the water where possible. We are proud to share the results and celebrate the positive impact of AWARE Week Actions across the globe.
Page 3
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
-
Fundraising for the Ocean
-
The charity's peer to peer fundraising in support of ocean protection continued with the support of 215 fundraisers taking on various fundraising Team Ocean challenges many of which were online streaming events.
Tackling Marine Debris
Pollution is one of the greatest threats facing the ocean planet. Marine debris – our human made trash that enters the ocean - is highly damaging with long lasting impacts on marine life, ecosystems, and not to mention our very own human health.
Project AWARE has a longstanding history working on marine debris. Throughout 2020, despite the challenges presented by the COVID-19 pandemic, we have continued to strive towards our vision of returning to a clean and healthy ocean through strategic partnerships, local community action, and dedicated policy action.
Dive Against Debris – our flagship Clean Ocean program – continues to evolve and strengthen. Having launched in 2011, the overarching goal is to yield quantitative data regarding seafloor marine debris that is robust enough to inform policy and improve waste management processes across all geographic scales. The program has evolved and grown with our community, from ad-hoc clean-ups to a credible citizen science program. Project AWARE is now actively achieving pivotal milestones which bring Dive Against Debris to the forefront as a credible, scientifically sound, and cost-effective monitoring service that local and national governments can use to inform and report on debris management policies around the world.
2020 saw us take the global Dive Against Debris dataset to the next level – with the first peer-reviewed scientific study published in partnership with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Ocean Conservancy presenting ground-breaking results from investigating the relationship between shoreline debris and seafloor debris. 2020 also included a published research study informed by Dive Against Debris surveys of seafloor debris specifically in the Mediterranean Sea, the results of which have been made available to develop waste management actions across Europe.
COVID-19 Impact on Our Oceans
In 2020, the global COVID-19 pandemic showed more than ever how human health is intimately connected with our relationship to the natural world. While at the beginning of the pandemic, the ocean seemed to benefit from a pause in human activity, it soon became clear that associated COVID-19 waste is making its way into the ocean and negatively impacting marine life and the marine environment.
From disposable face masks and latex gloves to single-use plastics associated with increased takeaway and delivery food ordering, it is evident that COVID-19 waste found its way to the ocean throughout 2020. Beach cleaners and divers around the world found pandemic related waste at a wide variety of sites around the world - from coastal beaches to seagrass beds to coral reefs.
In the wake of COVID-19, having the ability to monitor debris items is now more than ever an essential component to evaluating the social, economic, and environmental impacts of the pandemic.
Project AWARE responded to the unprecedented COVID-19 outbreak by taking fins off and fins on actions that kept people, passionate about ocean conservation, connected throughout the year. Above and below the surface, or from our homes, we stood together for a healthy ocean planet.
Mixed in with the usual marine debris culprits, Dive Against Debris surveys reported by divers across the world removed disposable masks, gloves and bottles of hand sanitizer from the marine environment. Project AWARE and other NGOs urged people to embrace reusable face masks, swap disposable gloves for more frequent
Page 4
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
handwashing, and continue to choose reusable bags, bottles, straws, cutlery, and containers whenever possible. Project AWARE also supported The Boomerang Alliance, Coordinator of the National Plastic Free Places program, when they released a plastic-free takeaway and delivery service guide for cafes and restaurants in response to COVID-19. The guide shows how food outlets can avoid single-use plastics, and what compostable packaging is available.
Blue Manifesto
Project AWARE joined environmental NGOs in Europe to make our ocean healthy by 2030. Launched in January 2020, the Blue Manifesto lays out concrete actions that must be delivered by set dates in order to turn the tide on the ever-degraded and polluted ocean and coastlines.
To be successful, change is needed both above and below the surface. More than 100 environmental organisations including Seas At Risk, BirdLife Europe, ClientEarth, Oceana, Surfrider Foundation Europe, WWF, and of course Project AWARE are calling for:
-
At least 30% of the ocean to be highly or fully protected by 2030
-
Shift to low-impact fishing
-
Securing a pollution-free ocean
-
Planning of human activities that support the restoration of thriving marine ecosystems
The situation in marine ecosystems around the world is dire, as stressed by recent reports released by the UN Intergovernmental Panel on Climate Change and by the UN Intergovernmental Science-Policy Platform. Urgent action is needed, and Europe can play a leading role in facing this challenge. Heeding the recommendations presented in the Blue Manifesto will put Europe on the right track to protect and restore the ocean, which is under increasing threat and on which life on Earth depends. With the European Green Deal, the European Commission has committed to implement real climate and biodiversity strategies that will shift investment and legislation towards a climate-resilient and ecologically diverse future. This collective of NGOs is calling on the European Commission to ensure that the ocean is an integral part of these strategies by following the guidelines proposed in the Blue Manifesto.
United for Biodiversity
Nature-based solutions offer the best way to achieve human well-being, tackle climate change, and protect our living planet. Yet nature is in crisis. Project AWARE mobilized its global community to take action for #Biodiversity2020.
As part of the 2020 global World Wildlife Day celebrations on March 3rd, the European Commission launched a new global coalition for biodiversity: United For Biodiversity at the iconic Oceanographic Museum of Monaco. Members of the Project AWARE team were thrilled to attend the event and join the European Commissioner for Environment, Oceans & Fisheries Virginijus Sinkevi?ius and UNEP Executive Director Inger Andersen in calling for stronger mobilization to protect biodiversity ahead of the 15th meeting of the Conference of the Parties (CoP15) to the Convention on Biological Diversity. The EU Commission called on all national parks, aquariums, botanic gardens, zoos, science and natural history museums to join forces and boost public awareness about the nature crisis. They also encouraged national, regional, and local authorities, non-governmental organizations (like Project AWARE), businesses, scientists and individual citizens to play their part in raising awareness ahead of the United Nations Biodiversity Summit.
During CoP15, the 196 Parties to the United Nations Convention on Biological Diversity are expected to adopt a new global framework to protect and restore nature. This framework is as needed for biodiversity protection as the Paris Agreement is for the climate urgency. While CoP15 was originally scheduled to occur in October 2020, the meeting was shifted back in light of the global pandemic, and was rescheduled for Spring of 2021.
Page 5
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
The Oceanographic Museum of Monaco hosted the ceremony to mark both the launch of the United for Biodiversity Pledge and handover of the leadership of the Aquariums Against Plastic Pollution coalition from the EU Commission to the United Nations Environment Programme (UNEP) under the Clean Seas campaign. The ceremony was followed by a workshop attended by NGOs, communications experts, and outreach specialists to help design the future of Aquariums Against Plastic Pollution under the Clean Seas umbrella.
Shark and Ray Conservation 2020 Highlights
Despite the challenges presented by the global pandemic, 2020 was an important year for shark conservation. Overfishing and habitat loss are two of the biggest threats facing marine life. Project AWARE has always held the protection of shark and ray species at the crux of this issue as many are especially vulnerable to both overfishing and loss of critical habitats. In fact, one in four shark and ray species is facing an increased threat of extinction due primarily to overfishing and habitat loss. The future of sharks and rays - and the health of our ocean planet - hinges on keeping fishing and trade in check as well as protection for critical habitats such as nursery, mating and feeding grounds.
To address this threat with action, Project AWARE is a member of the Shark League, a global coalition of conservation organizations (sharkleague.org), working under our flagship Healthy Ocean program to focus on key opportunities to secure meaningful shark and ray conservation measures and protections.
#MakeorBreak4Makos
Project AWARE and our Shark League partners have been pushing for reducing fishing pressure on mako sharks for a number of years, backed by over 29,500 people who have signed our #Divers4Makos petition.
Overfishing is the main threat to sharks and rays, and thus our relentless work to put an end to uncontrolled mako shark fishing continues. This year, we continued to actively collaborate with our Shark League partners, as well as with scientists, government officials, and most importantly, our supporters.
Throughout 2020, Project AWARE promoted and tracked support from Atlantic fishing nations to tackle one of the world’s most pressing shark conservation crises: the dangerous decline of Atlantic shortfin mako sharks. We urged top fishing nations to prohibit retention of this endangered species, as advised by International Commission for the Conservation of Atlantic Tunas (ICCAT) fisheries scientists, and continued to push for an Atlantic-wide ban. We even urged the global community to make their own voices heard on social media in support of protecting Atlantic mako sharks, leading up to the ICCAT negotiations.
The inherently vulnerable, ecologically vital, and economically valuable shortfin mako is classified as Endangered on the IUCN Red List, with trade of mako sharks limited under the Convention on International Trade in Endangered Species (CITES). These highly migratory sharks are fished by many countries for meat, fins and sport, and are in dire need of international catch limits.
Project AWARE and Shark League partners celebrated a science-based decision by the Canadian and Senegalese governments to propose an end all retention of endangered shortfin mako sharks in Atlantic fisheries. With this action, Canada and Senegal led an initiative to establish the science-based limits advised by scientists, and were supported by countries such as the UK, Egypt, Panama, Japan and China.
Unfortunately, the European Union and the United States – despite long promoting science-based shark conservation – once again served as the main obstacles to urgently needed protections for mako sharks through the 2020 ICCAT negotiations – which happened virtually in light of the pandemic. The Committee Chair has proposed another meeting in July 2021 as the next opportunity for Atlantic-wide action. Project AWARE and The Shark League are intently focused on making sure that the next round of ICCAT mako negotiations finally result in the protections that makos and their ecosystem so urgently need.
Page 6
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
Achievements and performance
a. Main achievements of the Company
At Project AWARE® we believe in a future where the ocean no longer needs protecting. We connect the passion for ocean adventure with the purpose of marine conservation to create lasting change.
The two critical areas that Project AWARE seeks to influence are: Community and Policy. We provide the tools and inspiration for our global community to take action with both fins on and fins off and we link those actions to policy to drive towards our vision for a return to a clean, healthy ocean.
-
We bring together a dedicated team of individuals around the world who share a passion for ocean protection and adventure to secure real and direct environmental victories.
-
We collaborate, co-create and partner with individuals, governments, NGOS, and businesses who, like us, believe in a future where the ocean no longer needs protecting.
-
We champion policy change, engage and activate a global volunteer community to tackle specific objectives for global ocean conservation.
We are a global movement for ocean protection powered by a community of adventurers - Where Conservation Meets Adventure?
b. Donated resources
Office space and services continue to be donated by PADI EMEA Limited (PADI®).
c. Investment policy and performance
Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short term so there are few funds for long term investment. Having considered the option available the trustees have decided to hold any surplus funds in interest bearing bank accounts. This investment policy is reviewed annually.
Financial review
a. Overview
The total incoming resources for the year amounted to £296,281 (2019: £384,506), against which £271,222 (2019: £437,099) was expended, leaving a net surplus of £25,059 (2019: £52,593 deficit) which increased total reserves. Total funds held at 31 December 2020 were £144,575 (2019: £119,516).
b. Reserves policy
At the balance sheet date the free reserves held by the charity (the unrestricted, undesignated funds not committed or invested in tangible fixed assets) amounted to £141,990 (2019: £107,271). The trustees consider that the charity needs to retain reserves equivalent to 6 months of operating costs in order to ensure the smooth running of its ongoing operations.
The directors expect the organisation to continue to meet their objectives in the future.
Page 7
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
c. Going concern
Due to the unexpected financial and operational consequences associated with Covid-19, Project AWARE created an alternate business plan to maintain operations for a minimum of eighteen months. The plan assumed that revenue would be at approximately 30% of the original budget for 9 months, slowly increasing at the 10th month. The plan was also drafted to include government funds and additional grant funding from Project AWARE’s sister organization in the US.
The following steps were implemented:
-
Cancelled or paused all unnecessary service contracts resulting in a 50% decrease in monthly expenses.
-
Created new budget and forecasting tools to track revenue and expenses on a bi-monthly basis.
-
Reached out to all major partners/donors (relationship building, check-in, see if they are in a position to donate).
-
Developed training resources to assist dive centres in providing on-line certifications thereby increasing their ability to donate.
-
Launched a donation matching campaign.
-
Re-focus on corporate sponsorships.
-
Staff furloughed for 4 month period.
-
Staffing decreases (eventually made 3 staff redundant due to lack of the foundations ability to run programs during pandemic shutdowns).
-
Re-evaluation and prioritizing of organizational goals, all in-person projects/programs paused until regions and countries were able to re-open businesses.
-
Re-negotiated PADI Corporate MOU for increased collaboration on conservation goals, projects and fundraising.
Structure, governance and management
a. Governing document
The organisation is a charitable company limited by guarantee and was set up incorporated on 6 January 1999 and registered as a charity on 14 January 1999. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
b. Methods of appointment or election of Trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as directors. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years, whith one third retiring by rotation at each Annual General Meeting, after which they must be re-elected at the next Annual General Meeting. Trustees can be subsequently re-elected without an absence from office.
All trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.
New trustees are recruited by personal recommendation, to reflect standing and reputation within the diving community, commitment to sustainable development of aquatic resources and contributions to the environment.
Page 8
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management (continued)
c. Policies adopted for the induction and training of Trustees
Trustees are already familiar with the practical work of the charity and new trustees are invited and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates.
d. Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have conducted a review of the major risks to which the charity is exposed, and systems have been established to mitigate these risks. Internal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity's objectives. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
Plans for future periods
The charity plans streamlining its operations to achieve its activities outlined above in the forthcoming years subject to the financial and staffing impacts of COVID-19 to the charity.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) 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 Company will continue in business.
Page 9
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Statement of Trustees' responsibilities (CONTINUED)
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
S Smith
S Smith (Oct 29, 2021 09:04 GMT+1)
S M Smith
Trustee Date: Oct 29, 2021
Page 10
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Independent Examiner's Report to the Trustees of Project Aware Foundation ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Respective responsibilities of Trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(b) of the 2011 Act.
This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below
Page 11
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Independent Examiner's Statement
In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Richard Bott (Oct 29, 2021 12:49 GMT+1) Dated: Oct 29, 2021
Richard Bott
FCA
Mazars LLP 90 Victoria Street Bristol BS1 6DP
Page 12
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities Investments 5 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2020 £ 258,015 - 4,500 24 262,539 237,480 237,480 25,059 119,516 25,059 144,575 |
Restricted funds 2020 £ - 48,062 - - 48,062 48,062 48,062 - - - - |
Total funds 2020 £ 258,015 48,062 4,500 24 310,601 285,542 285,542 25,059 119,516 25,059 144,575 |
Total funds 2019 £ 354,163 23,756 6,320 267 384,506 437,099 437,099 (52,593) 172,109 (52,593) 119,516 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 17 to 35 form part of these financial statements.
Page 13
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 03692403
BALANCE SHEET AS AT 31 DECEMBER 2020
| Note Fixed assets Intangible assets 11 Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
75,301 80,493 155,794 (13,804) |
2020 £ 359 2,227 2,586 141,990 144,576 144,576 - 144,576 144,576 |
25,979 87,109 113,088 (5,817) |
2019 £ 6,395 5,850 |
|---|---|---|---|---|
| 12,245 107,271 |
||||
| 119,516 | ||||
| 119,516 | ||||
| - 119,516 |
||||
| 119,516 |
Page 14
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 03692403
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
S Smith
S Smith (Oct 29, 2021 09:04 GMT+1)
S M Smith
Trustee Date: Oct 29, 2021
The notes on pages 17 to 35 form part of these financial statements.
Page 15
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
| STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 |
||
|---|---|---|
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020 £ (6,640) 24 - 24 (6,616) 87,109 80,493 |
2019 £ (96,267) 267 (1,765) (1,498) (97,765) 184,874 87,109 |
The notes on pages 17 to 35 form part of these financial statements
Page 16
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. General information
Project AWARE Foundation is a private charitable company limited by guarantee, registered in England & Wales, company registered number 03692403 and registered with the Charity Commission, charity number 1073327. Its registered office is The Pavilions, Bridgwater Road, Bristol, BS13 8AE.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The presentational currency of the financial statements is sterling which is the functional currency of the company and the financial statements are rounded to the nearest £. The financial information of the current period relates to the year ended 31 December 2019 and the comparative information relates to the year ended 31 December 2018.
Project AWARE Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2.3 Going concern
Having assessed the current situation the Trustees have considered it appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements. The measures taken by the company are highlighted in the Trustees report.
Page 17
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.4 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charitable company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charitable company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charitable company, or the charitable company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charitable company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Donated services or facilities are recognised when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charitable company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Company which is the amount the charitable company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 to 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 to 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.
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Page 18
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.5 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Intangible assets and amortisation
Intangible assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment.
The estimated useful lives are as follows:
Amortisation is provided on the following basis:
Computer software - 3 years straight line
2.8 Tangible fixed assets and depreciation
All assets costing more than £250 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Computer equipment 3 years straight line
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade 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.
Page 19
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
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 recognised at the amount that the Company 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 to settle the obligation. Where the effect of the time 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 within interest payable and similar charges.
2.12 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Pensions
The charitable company does not operate its own pension scheme. Staff costs included in these accounts represent the recharge by PADI EMEA Limited of a proportion of its staff costs to the charity. The recharge is based upon time spent by specific staff and includes pension costs.
2.14 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company 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 to the financial statements.
Page 20
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
3. Income from donations and legacies
| Unrestricted funds 2020 £ Donations Donations 144,690 Donated services and facilities* 14,320 Subscriptions 99,005 Gift aid - 258,015 |
Total funds 2020 £ 144,690 14,320 99,005 - 258,015 |
|---|---|
(*) The equivalent cost of the donated services and facilities above is reflected in the charitable activities expenditure in note 6 as follows:
Marketing/promotions £Nil (2019: £1,750) Donated wage cost £4,805 (2019: £5,377) Rent £8,533(2019: £14,933) Telephone £637 (2019: £1,115) Postage and stationery £345 (2019: £345)
| Unrestricted funds 2019 £ Donations Donations 198,364 Donated services and facilities 23,520 Subscriptions 133,147 Gift aid (868) - 354,163 |
Total funds 2019 £ 198,364 23,520 133,147 (868) - 354,163 |
|---|---|
Page 21
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
4. Income from charitable activities
| Restricted funds 2020 £ Grant income 48,062 Restricted funds 2019 £ Grant income 23,756 5. Investment income Unrestricted funds 2020 £ Deposit account interest 24 Unrestricted funds 2019 £ Deposit account interest 267 |
Total funds 2020 £ 48,062 |
|---|---|
| Total funds 2019 £ 23,756 |
|
| Total funds 2020 £ 24 |
|
| Total funds 2019 £ 267 |
Page 22
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities
| Healthy Ocean Clean Ocean Administration Fundraising expenses Healthy Ocean Clean Ocean Administration Fundraising expenses |
Activities undertaken directly 2020 £ 83,213 113,869 - - 197,082 Activities undertaken directly 2019 £ 154,361 164,944 - - 319,305 |
Support costs 2020 £ - - 68,154 20,306 88,460 Support costs 2019 £ - - 96,119 21,674 117,793 |
Total funds 2020 £ 83,213 113,869 68,154 20,306 285,542 |
|---|---|---|---|
| Total funds 2019 £ 154,361 164,944 96,119 21,674 437,099 |
Page 23
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Translations Support materials Other expenses Subscriptions Office expenses Subscriptions Travel Marketing/promotions Meetings |
Healthy Ocean 2020 £ 75,179 - 56 247 788 51 129 4,149 2,780 - (166) 83,213 |
Clean Ocean 2020 £ 96,782 6,036 1,013 446 1,002 80 31 3,807 4,235 360 77 113,869 |
Total funds 2020 £ 171,961 6,036 1,069 693 1,790 131 160 7,956 7,015 360 (89) 197,082 |
|---|---|---|---|
Page 24
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Amortisation Translations Awareness campaigns/projects Postage and stationery Staff welfare and training Office expenses Subscriptions Travel and meetings Consultant fees Outside labour Marketing/promotions Outside labour Bank charges |
Healthy Ocean 2019 £ 118,388 - 421 1,343 (711) 389 291 6,565 26,070 500 288 636 166 15 154,361 |
Clean Ocean 2019 £ 99,684 12,563 1,252 3,254 6,842 357 86 6,915 32,737 500 288 300 166 - 164,944 |
Total funds 2019 £ 218,072 12,563 1,673 4,597 6,131 746 377 13,480 58,807 1,000 576 936 332 15 319,305 |
|---|---|---|---|
Page 25
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Printing, postage and stationery () Telephone () Rent () Bank fees Insurance Exchange gain or loss Donated wage cost () Other expenses Bad debts Gym Translations Travel Software maintenance |
Administration 2020 £ 56,564 3,624 345 637 8,533 1,506 806 (1,818) 4,805 857 4,876 9 - (16,925) 4,334 68,153 |
Fundraising expenses 2020 £ 20,219 - - - - - - - - - - 5 82 - - 20,306 |
Total funds 2020 £ 76,783 3,624 345 637 8,533 1,506 806 (1,818) 4,805 857 4,876 14 82 (16,925) 4,334 88,459 |
|---|---|---|---|
(*) The equivalent costs of the donated services and facilities (as outlined in note 3) are reflected in the relevant cost headings above, as follows:
Marketing/promotions £Nil (2019: £1,750) Donated wage cost £4,805 (2019: £5,377) Rent £8,533 (2019: £14,933) Telephone £637 (2019: £1,115) Postage and stationery £345 (2019: £345)
Page 26
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Staff costs Depreciation Office expenses Telephone () Marketing/promotions () Rent () Bank charges Insurance Exchange rate variance Donated wage cost () Awareness campaigns/projects Seminars Subscriptions Bad debts Staff welfare and training Printing, postage and stationery (*) Translations Travel and meetings Governance |
Administration 2019 Fundraising expenses 2019 £ £ 27,448 18,270 3,232 - 962 - 1,310 - 1,750 - 14,933 - 1,083 - 1,541 - 3,313 - 5,377 - 348 570 2,729 - 7,310 1,960 11,440 - 432 48 5,422 174 65 300 289 352 7,135 - 96,119 21,674 |
Total funds 2019 £ 45,718 3,232 962 1,310 1,750 14,933 1,083 1,541 3,313 5,377 918 2,729 9,270 11,440 480 5,596 365 641 7,135 117,793 |
|---|---|---|
Page 27
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
7. Governance costs
| Unrestricted funds 2020 £ |
Restricted funds 2020 £ |
Total funds 2020 £ |
Total funds 2019 £ |
|
|---|---|---|---|---|
| Independent Examination | 2,400 | - | 2,400 | 2,400 |
| Accountancy fees | 4,735 | - | 4,735 | 4,735 |
| 7,135 | - | 7,135 | 7,135 |
8. Independent examiner's remuneration
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the independent | ||
| examination of the Company's annual accounts | 2,400 | 2,400 |
| Fees payable to the Company's independent examiner in respect of: | ||
| All other services not included above | 1,896 | 1,896 |
9. Staff costs
| Wages and salaries Social security costs Other pension costs |
2020 £ 197,466 32,256 19,022 248,744 |
2019 £ 227,193 21,954 14,643 |
|---|---|---|
| 263,790 |
The average number of persons employed by the Company during the year was as follows:
| 2020 | 2019 | |
|---|---|---|
| No. | No. | |
| Office | 6 | 7 |
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity comprise the Trustees, the Associate Director of Global Communications, the Community Engagement Manager and the Associate Director of Policy and Campaigns. The total employee benefits of the key management personnel of the charity were £97,430 (2019: £105,297).
Page 28
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL).
11. Intangible fixed assets
| Cost At 1 January 2020 At 31 December 2020 Amortisation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
Computer software £ 37,690 |
|---|---|
| 37,690 | |
| 31,295 6,036 |
|
| 37,331 | |
| 359 | |
| 6,395 |
Page 29
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
|---|---|
| 12. Tangible fixed assets Cost or valuation At 1 January 2020 At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
Computer equipment £ 13,165 13,165 7,316 3,623 10,939 2,226 5,850 |
Page 30
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
13. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2020 £ 71,779 302 3,220 75,301 |
2019 £ 14,962 2,505 8,512 |
|---|---|---|
| 25,979 |
14. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2020 £ 625 4,461 126 8,592 13,804 |
2019 £ 1,354 - 167 4,296 |
|---|---|---|
| 5,817 |
Page 31
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Restricted Funds - all funds Total of funds Statement of funds - prior year Unrestricted funds General Funds Restricted funds Shark League Total of funds |
Balance at 1 January 2020 £ 119,516 - 119,516 Balance at 1 January 2019 £ 172,109 - 172,109 |
Income £ 262,540 48,062 310,602 Income £ 360,750 23,756 23,756 |
Expenditure £ (237,480) (48,062) (285,542) Expenditure £ (413,343) (23,756) (437,099) |
Balance at 31 December 2020 £ 144,576 |
|---|---|---|---|---|
| - | ||||
| 144,576 | ||||
| Balance at 31 December 2019 £ 119,516 |
||||
| - | ||||
| 119,516 |
Page 32
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
15. Statement of funds (continued)
Purpose of funds
Restricted funds
Shark League - The funds received in 2019 is part of the SCF RFMO grant for the charity's work with the Shark league.
Project AWARE U.S . - a grant towards the costs of collaboration on the Safeguarding Atlantic & Mediterranean Elasmobranchs through RFMOs project. The transfer in to this fund represents a contribution from the charity's general fund towards the costs of involvement in the project during the 2018 financial year.
16. Summary of funds
Summary of funds - current year
| General funds Restricted funds Summary of funds - prior year General funds Restricted funds |
Balance at 1 January 2020 £ 119,516 - 119,516 Balance at 1 January 2019 £ 172,109 - 172,109 |
Income £ 262,540 48,062 310,602 Income £ 360,750 23,756 384,506 |
Expenditure £ (237,480) (48,062) (285,542) Expenditure £ (413,343) (23,756) (437,099) |
Balance at 31 December 2020 £ 144,576 - 144,576 |
|---|---|---|---|---|
| Balance at 31 December 2019 £ 119,516 - 119,516 |
Page 33
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
17. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2020 £ Tangible fixed assets 2,227 Intangible fixed assets 359 Current assets 155,795 Creditors due within one year (13,805) Total 144,576 |
Total funds 2020 £ 2,227 359 155,795 (13,805) 144,576 |
|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Total |
Unrestricte d funds 2019 £ 5,850 6,395 113,088 (5,817) 119,516 |
Total funds 2019 £ 5,850 6,395 113,088 (5,817) 119,516 |
|---|---|---|
Page 34
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
18. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the period (as per Statement Activities) Adjustments for: Depreciation and amortisation charges Dividends, interests and rents from investments (Increase) in debtors Increase/(decrease) in creditors Net cash used in operating activities 19. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 20. Analysis of changes in net debt Cash at bank and in hand |
of Financial At 1 January 2020 £ 87,109 87,109 |
2020 £ 25,059 9,659 (24) (48,036) 6,702 (6,640) 2020 £ 80,493 80,493 Cash flows £ (6,616) (6,616) |
2019 £ (52,593) 15,795 (267) (13,919) (45,283) (96,267) 2019 £ 87,109 87,109 At 31 December 2020 £ 80,493 80,493 |
|---|---|---|---|
21. Related party transactions
There are no identified related parties, other than the trustees.
No donations (2019: None) were received by the charity during the period from trustees.
Page 35
Registered number: 03692403 Charity number: 1073327
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 10 |
| Independent Examiner's Report | 11 - 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 - 15 |
| Statement of Cash Flows | 16 |
| Notes to the Financial Statements | 17 - 35 |
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
| Trustees | M Caney |
|---|---|
| S M Smith (Formerly Pleydell) | |
| T A Richardson | |
| K N Valette | |
| Company registered number 03692403 Charity registered number 1073327 Registered office The Pavilions Bridgwater Road Bristol BS13 8AE Company secretary S M Smith (Formerly Pleydell) Director Senior Management Team Danna Moore Ian Campbell, Associate Director, Policy and Campaigns Kian Clineff, Associate Director, Operation (US Office) Independent Examiner Richard Bott FCA Mazars LLP Chartered Accountants 90 Victoria Street Bristol BS1 6DP Bankers Barclays Bank plc Park House New Brick Road Stoke Gifford Bristol BS34 8ZJ |
Page 1
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the financial statements of Project Aware Foundation for the 1 January 2020 to 31 December 2020. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In shaping our objectives for the year and planning out activities, the trustees have considered the Charity's Commission guidance on public benefit, including the guidance "public benefit: running a charity (PB2)".
The charity's objectives are to:
Empower and bring together a worldwide community of scuba divers in more than 180 countries by providing them with the tools, resources and inspiration to take actions - large and small - that contribute to advancing the health of the ocean.
The charity meets these objectives through the development of its key campaign areas under its overarching mission to connect the passion for adventure with the purpose of marine conservation:
1) Clean Ocean; and
2) Healthy Ocean.
b. Review of Activities
A New Decade of Ocean Science
Staying true to our values of collaboration and knowing we are stronger together, Project AWARE is committed to facilitating the citizen science we need for the ocean we want.
From working to secure trade controls for vulnerable marine species, to building an army of Dive Against Debris® activists taking our flagship underwater citizen science programme to the next level, 2020 saw Project AWARE actively leverage community action across the globe.
Scuba divers have been carrying the Project AWARE torch for ocean protection since the late 1980's. Time and time again, the dive community has proven that their collective actions and support matter, and 2020 was no different despite the challenges of a global pandemic. Whether divers report rare shark sightings, monitor coral reefs' health, or submit marine debris data, every piece of information, every survey submitted is a key part of helping sustainably manage the world’s marine ecosystems.
Project AWARE is partnering with scientists and other key organizations to analyse the Dive Against Debris dataset in order to inform research and policy change, advancing our knowledge and understanding regarding marine debris.
Page 2
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
Project AWARE is building an increasingly comprehensive global dataset that can be used to help inform effective prevention measures to stop further debris entering the ocean and thus helping to reduce ecosystem degradation. Countries can use Dive Against Debris data to advance policies and legislation at national and international levels. Additionally, Project AWARE is committed to working with countries to help them identify where they may need to focus their efforts, based on what is reported through Dive Against Debris.
Our community not only includes individual ocean lovers but also businesses, NGOs, and corporate partners who share our passion for the underwater world. Over the last 12 months, we have continued our work with the Shark League, Global Ghost Gear Initiative, Seas At Risk, and our 100% AWARE partners to name just a few.
Together with the Shark League - a coalition focused on responsible regional conservation of sharks and rays - Project AWARE is working towards securing science-based shark and ray catch limits and strict protections for endangered species.
Project AWARE is committed to working with Global Ghost Gear Initiative partners to support the adoption of a Best Practice Framework for the Management of Fishing Gear as well as promoting ghost gear reduction measures at RFMOs. Together we are committed to tackling abandoned, lost and otherwise discarded fishing gear on a global scale.
Taking action with Project AWARE for a clean and healthy ocean helps support a sustainable and resilient future for people and the planet. Throughout 2020 and looking towards this new decade of ocean science, Project AWARE is committed to providing a platform to accelerate community-led efforts and secure science-based conservation measures to protect and restore the ocean at local, national, and international levels.
Bringing the Ocean Home
Throughout 2020, Project AWARE responded to the unprecedented COVID-19 pandemic by taking fins off actions that kept people, passionate about ocean conservation, connected during this crisis. Above and beneath the waves, or from our homes, we stood together for a healthy ocean planet.
Together with our global network of ocean enthusiasts and dive leaders, we shifted our passion, energy, and creativity in new ways to mobilize the world to act for a clean and healthy ocean. We know we have amazing leaders in our global community. Some are 100% AWARE partners, others are Adopt a Dive Site® ambassadors. The Project AWARE team remained determined, doing everything we could to remain available to provide support and innovative ways to continue to stay connected through online opportunities to learn and take action for a return to a clean and healthy ocean – from online courses, to webinars, to social media campaigns.
Through periods of isolation and anxiety, it was important to remember that we are all connected. That’s why Project AWARE continued to connect people to the ocean online and offline in 2020, because the ocean connects us all. We are united by our shared passion for the ocean, and we see perhaps more clearly than ever that human health and wellbeing are interwoven with ocean and planetary health.
Community Action for the Ocean
AWARE Week 2020
- Divers around the globe joined forces from 19th – 27th September 2020 to protect ocean health in honour of AWARE Week 2020. The third annual weeklong event took new forms this year as divers and dive leaders participated online, in their communities, and in the water where possible. We are proud to share the results and celebrate the positive impact of AWARE Week Actions across the globe.
Page 3
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
-
Fundraising for the Ocean
-
The charity's peer to peer fundraising in support of ocean protection continued with the support of 215 fundraisers taking on various fundraising Team Ocean challenges many of which were online streaming events.
Tackling Marine Debris
Pollution is one of the greatest threats facing the ocean planet. Marine debris – our human made trash that enters the ocean - is highly damaging with long lasting impacts on marine life, ecosystems, and not to mention our very own human health.
Project AWARE has a longstanding history working on marine debris. Throughout 2020, despite the challenges presented by the COVID-19 pandemic, we have continued to strive towards our vision of returning to a clean and healthy ocean through strategic partnerships, local community action, and dedicated policy action.
Dive Against Debris – our flagship Clean Ocean program – continues to evolve and strengthen. Having launched in 2011, the overarching goal is to yield quantitative data regarding seafloor marine debris that is robust enough to inform policy and improve waste management processes across all geographic scales. The program has evolved and grown with our community, from ad-hoc clean-ups to a credible citizen science program. Project AWARE is now actively achieving pivotal milestones which bring Dive Against Debris to the forefront as a credible, scientifically sound, and cost-effective monitoring service that local and national governments can use to inform and report on debris management policies around the world.
2020 saw us take the global Dive Against Debris dataset to the next level – with the first peer-reviewed scientific study published in partnership with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Ocean Conservancy presenting ground-breaking results from investigating the relationship between shoreline debris and seafloor debris. 2020 also included a published research study informed by Dive Against Debris surveys of seafloor debris specifically in the Mediterranean Sea, the results of which have been made available to develop waste management actions across Europe.
COVID-19 Impact on Our Oceans
In 2020, the global COVID-19 pandemic showed more than ever how human health is intimately connected with our relationship to the natural world. While at the beginning of the pandemic, the ocean seemed to benefit from a pause in human activity, it soon became clear that associated COVID-19 waste is making its way into the ocean and negatively impacting marine life and the marine environment.
From disposable face masks and latex gloves to single-use plastics associated with increased takeaway and delivery food ordering, it is evident that COVID-19 waste found its way to the ocean throughout 2020. Beach cleaners and divers around the world found pandemic related waste at a wide variety of sites around the world - from coastal beaches to seagrass beds to coral reefs.
In the wake of COVID-19, having the ability to monitor debris items is now more than ever an essential component to evaluating the social, economic, and environmental impacts of the pandemic.
Project AWARE responded to the unprecedented COVID-19 outbreak by taking fins off and fins on actions that kept people, passionate about ocean conservation, connected throughout the year. Above and below the surface, or from our homes, we stood together for a healthy ocean planet.
Mixed in with the usual marine debris culprits, Dive Against Debris surveys reported by divers across the world removed disposable masks, gloves and bottles of hand sanitizer from the marine environment. Project AWARE and other NGOs urged people to embrace reusable face masks, swap disposable gloves for more frequent
Page 4
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
handwashing, and continue to choose reusable bags, bottles, straws, cutlery, and containers whenever possible. Project AWARE also supported The Boomerang Alliance, Coordinator of the National Plastic Free Places program, when they released a plastic-free takeaway and delivery service guide for cafes and restaurants in response to COVID-19. The guide shows how food outlets can avoid single-use plastics, and what compostable packaging is available.
Blue Manifesto
Project AWARE joined environmental NGOs in Europe to make our ocean healthy by 2030. Launched in January 2020, the Blue Manifesto lays out concrete actions that must be delivered by set dates in order to turn the tide on the ever-degraded and polluted ocean and coastlines.
To be successful, change is needed both above and below the surface. More than 100 environmental organisations including Seas At Risk, BirdLife Europe, ClientEarth, Oceana, Surfrider Foundation Europe, WWF, and of course Project AWARE are calling for:
-
At least 30% of the ocean to be highly or fully protected by 2030
-
Shift to low-impact fishing
-
Securing a pollution-free ocean
-
Planning of human activities that support the restoration of thriving marine ecosystems
The situation in marine ecosystems around the world is dire, as stressed by recent reports released by the UN Intergovernmental Panel on Climate Change and by the UN Intergovernmental Science-Policy Platform. Urgent action is needed, and Europe can play a leading role in facing this challenge. Heeding the recommendations presented in the Blue Manifesto will put Europe on the right track to protect and restore the ocean, which is under increasing threat and on which life on Earth depends. With the European Green Deal, the European Commission has committed to implement real climate and biodiversity strategies that will shift investment and legislation towards a climate-resilient and ecologically diverse future. This collective of NGOs is calling on the European Commission to ensure that the ocean is an integral part of these strategies by following the guidelines proposed in the Blue Manifesto.
United for Biodiversity
Nature-based solutions offer the best way to achieve human well-being, tackle climate change, and protect our living planet. Yet nature is in crisis. Project AWARE mobilized its global community to take action for #Biodiversity2020.
As part of the 2020 global World Wildlife Day celebrations on March 3rd, the European Commission launched a new global coalition for biodiversity: United For Biodiversity at the iconic Oceanographic Museum of Monaco. Members of the Project AWARE team were thrilled to attend the event and join the European Commissioner for Environment, Oceans & Fisheries Virginijus Sinkevi?ius and UNEP Executive Director Inger Andersen in calling for stronger mobilization to protect biodiversity ahead of the 15th meeting of the Conference of the Parties (CoP15) to the Convention on Biological Diversity. The EU Commission called on all national parks, aquariums, botanic gardens, zoos, science and natural history museums to join forces and boost public awareness about the nature crisis. They also encouraged national, regional, and local authorities, non-governmental organizations (like Project AWARE), businesses, scientists and individual citizens to play their part in raising awareness ahead of the United Nations Biodiversity Summit.
During CoP15, the 196 Parties to the United Nations Convention on Biological Diversity are expected to adopt a new global framework to protect and restore nature. This framework is as needed for biodiversity protection as the Paris Agreement is for the climate urgency. While CoP15 was originally scheduled to occur in October 2020, the meeting was shifted back in light of the global pandemic, and was rescheduled for Spring of 2021.
Page 5
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
The Oceanographic Museum of Monaco hosted the ceremony to mark both the launch of the United for Biodiversity Pledge and handover of the leadership of the Aquariums Against Plastic Pollution coalition from the EU Commission to the United Nations Environment Programme (UNEP) under the Clean Seas campaign. The ceremony was followed by a workshop attended by NGOs, communications experts, and outreach specialists to help design the future of Aquariums Against Plastic Pollution under the Clean Seas umbrella.
Shark and Ray Conservation 2020 Highlights
Despite the challenges presented by the global pandemic, 2020 was an important year for shark conservation. Overfishing and habitat loss are two of the biggest threats facing marine life. Project AWARE has always held the protection of shark and ray species at the crux of this issue as many are especially vulnerable to both overfishing and loss of critical habitats. In fact, one in four shark and ray species is facing an increased threat of extinction due primarily to overfishing and habitat loss. The future of sharks and rays - and the health of our ocean planet - hinges on keeping fishing and trade in check as well as protection for critical habitats such as nursery, mating and feeding grounds.
To address this threat with action, Project AWARE is a member of the Shark League, a global coalition of conservation organizations (sharkleague.org), working under our flagship Healthy Ocean program to focus on key opportunities to secure meaningful shark and ray conservation measures and protections.
#MakeorBreak4Makos
Project AWARE and our Shark League partners have been pushing for reducing fishing pressure on mako sharks for a number of years, backed by over 29,500 people who have signed our #Divers4Makos petition.
Overfishing is the main threat to sharks and rays, and thus our relentless work to put an end to uncontrolled mako shark fishing continues. This year, we continued to actively collaborate with our Shark League partners, as well as with scientists, government officials, and most importantly, our supporters.
Throughout 2020, Project AWARE promoted and tracked support from Atlantic fishing nations to tackle one of the world’s most pressing shark conservation crises: the dangerous decline of Atlantic shortfin mako sharks. We urged top fishing nations to prohibit retention of this endangered species, as advised by International Commission for the Conservation of Atlantic Tunas (ICCAT) fisheries scientists, and continued to push for an Atlantic-wide ban. We even urged the global community to make their own voices heard on social media in support of protecting Atlantic mako sharks, leading up to the ICCAT negotiations.
The inherently vulnerable, ecologically vital, and economically valuable shortfin mako is classified as Endangered on the IUCN Red List, with trade of mako sharks limited under the Convention on International Trade in Endangered Species (CITES). These highly migratory sharks are fished by many countries for meat, fins and sport, and are in dire need of international catch limits.
Project AWARE and Shark League partners celebrated a science-based decision by the Canadian and Senegalese governments to propose an end all retention of endangered shortfin mako sharks in Atlantic fisheries. With this action, Canada and Senegal led an initiative to establish the science-based limits advised by scientists, and were supported by countries such as the UK, Egypt, Panama, Japan and China.
Unfortunately, the European Union and the United States – despite long promoting science-based shark conservation – once again served as the main obstacles to urgently needed protections for mako sharks through the 2020 ICCAT negotiations – which happened virtually in light of the pandemic. The Committee Chair has proposed another meeting in July 2021 as the next opportunity for Atlantic-wide action. Project AWARE and The Shark League are intently focused on making sure that the next round of ICCAT mako negotiations finally result in the protections that makos and their ecosystem so urgently need.
Page 6
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities (continued)
Achievements and performance
a. Main achievements of the Company
At Project AWARE® we believe in a future where the ocean no longer needs protecting. We connect the passion for ocean adventure with the purpose of marine conservation to create lasting change.
The two critical areas that Project AWARE seeks to influence are: Community and Policy. We provide the tools and inspiration for our global community to take action with both fins on and fins off and we link those actions to policy to drive towards our vision for a return to a clean, healthy ocean.
-
We bring together a dedicated team of individuals around the world who share a passion for ocean protection and adventure to secure real and direct environmental victories.
-
We collaborate, co-create and partner with individuals, governments, NGOS, and businesses who, like us, believe in a future where the ocean no longer needs protecting.
-
We champion policy change, engage and activate a global volunteer community to tackle specific objectives for global ocean conservation.
We are a global movement for ocean protection powered by a community of adventurers - Where Conservation Meets Adventure?
b. Donated resources
Office space and services continue to be donated by PADI EMEA Limited (PADI®).
c. Investment policy and performance
Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short term so there are few funds for long term investment. Having considered the option available the trustees have decided to hold any surplus funds in interest bearing bank accounts. This investment policy is reviewed annually.
Financial review
a. Overview
The total incoming resources for the year amounted to £296,281 (2019: £384,506), against which £271,222 (2019: £437,099) was expended, leaving a net surplus of £25,059 (2019: £52,593 deficit) which increased total reserves. Total funds held at 31 December 2020 were £144,575 (2019: £119,516).
b. Reserves policy
At the balance sheet date the free reserves held by the charity (the unrestricted, undesignated funds not committed or invested in tangible fixed assets) amounted to £141,990 (2019: £107,271). The trustees consider that the charity needs to retain reserves equivalent to 6 months of operating costs in order to ensure the smooth running of its ongoing operations.
The directors expect the organisation to continue to meet their objectives in the future.
Page 7
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
c. Going concern
Due to the unexpected financial and operational consequences associated with Covid-19, Project AWARE created an alternate business plan to maintain operations for a minimum of eighteen months. The plan assumed that revenue would be at approximately 30% of the original budget for 9 months, slowly increasing at the 10th month. The plan was also drafted to include government funds and additional grant funding from Project AWARE’s sister organization in the US.
The following steps were implemented:
-
Cancelled or paused all unnecessary service contracts resulting in a 50% decrease in monthly expenses.
-
Created new budget and forecasting tools to track revenue and expenses on a bi-monthly basis.
-
Reached out to all major partners/donors (relationship building, check-in, see if they are in a position to donate).
-
Developed training resources to assist dive centres in providing on-line certifications thereby increasing their ability to donate.
-
Launched a donation matching campaign.
-
Re-focus on corporate sponsorships.
-
Staff furloughed for 4 month period.
-
Staffing decreases (eventually made 3 staff redundant due to lack of the foundations ability to run programs during pandemic shutdowns).
-
Re-evaluation and prioritizing of organizational goals, all in-person projects/programs paused until regions and countries were able to re-open businesses.
-
Re-negotiated PADI Corporate MOU for increased collaboration on conservation goals, projects and fundraising.
Structure, governance and management
a. Governing document
The organisation is a charitable company limited by guarantee and was set up incorporated on 6 January 1999 and registered as a charity on 14 January 1999. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
b. Methods of appointment or election of Trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as directors. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years, whith one third retiring by rotation at each Annual General Meeting, after which they must be re-elected at the next Annual General Meeting. Trustees can be subsequently re-elected without an absence from office.
All trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.
New trustees are recruited by personal recommendation, to reflect standing and reputation within the diving community, commitment to sustainable development of aquatic resources and contributions to the environment.
Page 8
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management (continued)
c. Policies adopted for the induction and training of Trustees
Trustees are already familiar with the practical work of the charity and new trustees are invited and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates.
d. Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have conducted a review of the major risks to which the charity is exposed, and systems have been established to mitigate these risks. Internal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity's objectives. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
Plans for future periods
The charity plans streamlining its operations to achieve its activities outlined above in the forthcoming years subject to the financial and staffing impacts of COVID-19 to the charity.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) 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 Company will continue in business.
Page 9
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Statement of Trustees' responsibilities (CONTINUED)
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
S Smith
S Smith (Oct 29, 2021 09:04 GMT+1)
S M Smith
Trustee Date: Oct 29, 2021
Page 10
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Independent Examiner's Report to the Trustees of Project Aware Foundation ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Respective responsibilities of Trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(b) of the 2011 Act.
This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below
Page 11
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Independent Examiner's Statement
In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Richard Bott (Oct 29, 2021 12:49 GMT+1) Dated: Oct 29, 2021
Richard Bott
FCA
Mazars LLP 90 Victoria Street Bristol BS1 6DP
Page 12
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities Investments 5 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2020 £ 258,015 - 4,500 24 262,539 237,480 237,480 25,059 119,516 25,059 144,575 |
Restricted funds 2020 £ - 48,062 - - 48,062 48,062 48,062 - - - - |
Total funds 2020 £ 258,015 48,062 4,500 24 310,601 285,542 285,542 25,059 119,516 25,059 144,575 |
Total funds 2019 £ 354,163 23,756 6,320 267 384,506 437,099 437,099 (52,593) 172,109 (52,593) 119,516 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 17 to 35 form part of these financial statements.
Page 13
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 03692403
BALANCE SHEET AS AT 31 DECEMBER 2020
| Note Fixed assets Intangible assets 11 Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
75,301 80,493 155,794 (13,804) |
2020 £ 359 2,227 2,586 141,990 144,576 144,576 - 144,576 144,576 |
25,979 87,109 113,088 (5,817) |
2019 £ 6,395 5,850 |
|---|---|---|---|---|
| 12,245 107,271 |
||||
| 119,516 | ||||
| 119,516 | ||||
| - 119,516 |
||||
| 119,516 |
Page 14
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 03692403
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
S Smith
S Smith (Oct 29, 2021 09:04 GMT+1)
S M Smith
Trustee Date: Oct 29, 2021
The notes on pages 17 to 35 form part of these financial statements.
Page 15
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
| STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 |
||
|---|---|---|
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020 £ (6,640) 24 - 24 (6,616) 87,109 80,493 |
2019 £ (96,267) 267 (1,765) (1,498) (97,765) 184,874 87,109 |
The notes on pages 17 to 35 form part of these financial statements
Page 16
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. General information
Project AWARE Foundation is a private charitable company limited by guarantee, registered in England & Wales, company registered number 03692403 and registered with the Charity Commission, charity number 1073327. Its registered office is The Pavilions, Bridgwater Road, Bristol, BS13 8AE.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The presentational currency of the financial statements is sterling which is the functional currency of the company and the financial statements are rounded to the nearest £. The financial information of the current period relates to the year ended 31 December 2019 and the comparative information relates to the year ended 31 December 2018.
Project AWARE Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2.3 Going concern
Having assessed the current situation the Trustees have considered it appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements. The measures taken by the company are highlighted in the Trustees report.
Page 17
PROJECT AWARE FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.4 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charitable company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charitable company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charitable company, or the charitable company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charitable company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Donated services or facilities are recognised when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charitable company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Company which is the amount the charitable company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 to 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 to 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.
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Page 18
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.5 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Intangible assets and amortisation
Intangible assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment.
The estimated useful lives are as follows:
Amortisation is provided on the following basis:
Computer software - 3 years straight line
2.8 Tangible fixed assets and depreciation
All assets costing more than £250 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Computer equipment 3 years straight line
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade 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.
Page 19
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
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 recognised at the amount that the Company 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 to settle the obligation. Where the effect of the time 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 within interest payable and similar charges.
2.12 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Pensions
The charitable company does not operate its own pension scheme. Staff costs included in these accounts represent the recharge by PADI EMEA Limited of a proportion of its staff costs to the charity. The recharge is based upon time spent by specific staff and includes pension costs.
2.14 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company 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 to the financial statements.
Page 20
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
3. Income from donations and legacies
| Unrestricted funds 2020 £ Donations Donations 144,690 Donated services and facilities* 14,320 Subscriptions 99,005 Gift aid - 258,015 |
Total funds 2020 £ 144,690 14,320 99,005 - 258,015 |
|---|---|
(*) The equivalent cost of the donated services and facilities above is reflected in the charitable activities expenditure in note 6 as follows:
Marketing/promotions £Nil (2019: £1,750) Donated wage cost £4,805 (2019: £5,377) Rent £8,533(2019: £14,933) Telephone £637 (2019: £1,115) Postage and stationery £345 (2019: £345)
| Unrestricted funds 2019 £ Donations Donations 198,364 Donated services and facilities 23,520 Subscriptions 133,147 Gift aid (868) - 354,163 |
Total funds 2019 £ 198,364 23,520 133,147 (868) - 354,163 |
|---|---|
Page 21
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
4. Income from charitable activities
| Restricted funds 2020 £ Grant income 48,062 Restricted funds 2019 £ Grant income 23,756 5. Investment income Unrestricted funds 2020 £ Deposit account interest 24 Unrestricted funds 2019 £ Deposit account interest 267 |
Total funds 2020 £ 48,062 |
|---|---|
| Total funds 2019 £ 23,756 |
|
| Total funds 2020 £ 24 |
|
| Total funds 2019 £ 267 |
Page 22
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities
| Healthy Ocean Clean Ocean Administration Fundraising expenses Healthy Ocean Clean Ocean Administration Fundraising expenses |
Activities undertaken directly 2020 £ 83,213 113,869 - - 197,082 Activities undertaken directly 2019 £ 154,361 164,944 - - 319,305 |
Support costs 2020 £ - - 68,154 20,306 88,460 Support costs 2019 £ - - 96,119 21,674 117,793 |
Total funds 2020 £ 83,213 113,869 68,154 20,306 285,542 |
|---|---|---|---|
| Total funds 2019 £ 154,361 164,944 96,119 21,674 437,099 |
Page 23
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Translations Support materials Other expenses Subscriptions Office expenses Subscriptions Travel Marketing/promotions Meetings |
Healthy Ocean 2020 £ 75,179 - 56 247 788 51 129 4,149 2,780 - (166) 83,213 |
Clean Ocean 2020 £ 96,782 6,036 1,013 446 1,002 80 31 3,807 4,235 360 77 113,869 |
Total funds 2020 £ 171,961 6,036 1,069 693 1,790 131 160 7,956 7,015 360 (89) 197,082 |
|---|---|---|---|
Page 24
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Amortisation Translations Awareness campaigns/projects Postage and stationery Staff welfare and training Office expenses Subscriptions Travel and meetings Consultant fees Outside labour Marketing/promotions Outside labour Bank charges |
Healthy Ocean 2019 £ 118,388 - 421 1,343 (711) 389 291 6,565 26,070 500 288 636 166 15 154,361 |
Clean Ocean 2019 £ 99,684 12,563 1,252 3,254 6,842 357 86 6,915 32,737 500 288 300 166 - 164,944 |
Total funds 2019 £ 218,072 12,563 1,673 4,597 6,131 746 377 13,480 58,807 1,000 576 936 332 15 319,305 |
|---|---|---|---|
Page 25
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Printing, postage and stationery () Telephone () Rent () Bank fees Insurance Exchange gain or loss Donated wage cost () Other expenses Bad debts Gym Translations Travel Software maintenance |
Administration 2020 £ 56,564 3,624 345 637 8,533 1,506 806 (1,818) 4,805 857 4,876 9 - (16,925) 4,334 68,153 |
Fundraising expenses 2020 £ 20,219 - - - - - - - - - - 5 82 - - 20,306 |
Total funds 2020 £ 76,783 3,624 345 637 8,533 1,506 806 (1,818) 4,805 857 4,876 14 82 (16,925) 4,334 88,459 |
|---|---|---|---|
(*) The equivalent costs of the donated services and facilities (as outlined in note 3) are reflected in the relevant cost headings above, as follows:
Marketing/promotions £Nil (2019: £1,750) Donated wage cost £4,805 (2019: £5,377) Rent £8,533 (2019: £14,933) Telephone £637 (2019: £1,115) Postage and stationery £345 (2019: £345)
Page 26
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Staff costs Depreciation Office expenses Telephone () Marketing/promotions () Rent () Bank charges Insurance Exchange rate variance Donated wage cost () Awareness campaigns/projects Seminars Subscriptions Bad debts Staff welfare and training Printing, postage and stationery (*) Translations Travel and meetings Governance |
Administration 2019 Fundraising expenses 2019 £ £ 27,448 18,270 3,232 - 962 - 1,310 - 1,750 - 14,933 - 1,083 - 1,541 - 3,313 - 5,377 - 348 570 2,729 - 7,310 1,960 11,440 - 432 48 5,422 174 65 300 289 352 7,135 - 96,119 21,674 |
Total funds 2019 £ 45,718 3,232 962 1,310 1,750 14,933 1,083 1,541 3,313 5,377 918 2,729 9,270 11,440 480 5,596 365 641 7,135 117,793 |
|---|---|---|
Page 27
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
7. Governance costs
| Unrestricted funds 2020 £ |
Restricted funds 2020 £ |
Total funds 2020 £ |
Total funds 2019 £ |
|
|---|---|---|---|---|
| Independent Examination | 2,400 | - | 2,400 | 2,400 |
| Accountancy fees | 4,735 | - | 4,735 | 4,735 |
| 7,135 | - | 7,135 | 7,135 |
8. Independent examiner's remuneration
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the independent | ||
| examination of the Company's annual accounts | 2,400 | 2,400 |
| Fees payable to the Company's independent examiner in respect of: | ||
| All other services not included above | 1,896 | 1,896 |
9. Staff costs
| Wages and salaries Social security costs Other pension costs |
2020 £ 197,466 32,256 19,022 248,744 |
2019 £ 227,193 21,954 14,643 |
|---|---|---|
| 263,790 |
The average number of persons employed by the Company during the year was as follows:
| 2020 | 2019 | |
|---|---|---|
| No. | No. | |
| Office | 6 | 7 |
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity comprise the Trustees, the Associate Director of Global Communications, the Community Engagement Manager and the Associate Director of Policy and Campaigns. The total employee benefits of the key management personnel of the charity were £97,430 (2019: £105,297).
Page 28
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL).
11. Intangible fixed assets
| Cost At 1 January 2020 At 31 December 2020 Amortisation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
Computer software £ 37,690 |
|---|---|
| 37,690 | |
| 31,295 6,036 |
|
| 37,331 | |
| 359 | |
| 6,395 |
Page 29
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
|---|---|
| 12. Tangible fixed assets Cost or valuation At 1 January 2020 At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
Computer equipment £ 13,165 13,165 7,316 3,623 10,939 2,226 5,850 |
Page 30
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
13. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2020 £ 71,779 302 3,220 75,301 |
2019 £ 14,962 2,505 8,512 |
|---|---|---|
| 25,979 |
14. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2020 £ 625 4,461 126 8,592 13,804 |
2019 £ 1,354 - 167 4,296 |
|---|---|---|
| 5,817 |
Page 31
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Restricted Funds - all funds Total of funds Statement of funds - prior year Unrestricted funds General Funds Restricted funds Shark League Total of funds |
Balance at 1 January 2020 £ 119,516 - 119,516 Balance at 1 January 2019 £ 172,109 - 172,109 |
Income £ 262,540 48,062 310,602 Income £ 360,750 23,756 23,756 |
Expenditure £ (237,480) (48,062) (285,542) Expenditure £ (413,343) (23,756) (437,099) |
Balance at 31 December 2020 £ 144,576 |
|---|---|---|---|---|
| - | ||||
| 144,576 | ||||
| Balance at 31 December 2019 £ 119,516 |
||||
| - | ||||
| 119,516 |
Page 32
PROJECT AWARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
15. Statement of funds (continued)
Purpose of funds
Restricted funds
Shark League - The funds received in 2019 is part of the SCF RFMO grant for the charity's work with the Shark league.
Project AWARE U.S . - a grant towards the costs of collaboration on the Safeguarding Atlantic & Mediterranean Elasmobranchs through RFMOs project. The transfer in to this fund represents a contribution from the charity's general fund towards the costs of involvement in the project during the 2018 financial year.
16. Summary of funds
Summary of funds - current year
| General funds Restricted funds Summary of funds - prior year General funds Restricted funds |
Balance at 1 January 2020 £ 119,516 - 119,516 Balance at 1 January 2019 £ 172,109 - 172,109 |
Income £ 262,540 48,062 310,602 Income £ 360,750 23,756 384,506 |
Expenditure £ (237,480) (48,062) (285,542) Expenditure £ (413,343) (23,756) (437,099) |
Balance at 31 December 2020 £ 144,576 - 144,576 |
|---|---|---|---|---|
| Balance at 31 December 2019 £ 119,516 - 119,516 |
Page 33
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
17. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2020 £ Tangible fixed assets 2,227 Intangible fixed assets 359 Current assets 155,795 Creditors due within one year (13,805) Total 144,576 |
Total funds 2020 £ 2,227 359 155,795 (13,805) 144,576 |
|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Total |
Unrestricte d funds 2019 £ 5,850 6,395 113,088 (5,817) 119,516 |
Total funds 2019 £ 5,850 6,395 113,088 (5,817) 119,516 |
|---|---|---|
Page 34
(A Company Limited by Guarantee)
PROJECT AWARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
18. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the period (as per Statement Activities) Adjustments for: Depreciation and amortisation charges Dividends, interests and rents from investments (Increase) in debtors Increase/(decrease) in creditors Net cash used in operating activities 19. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 20. Analysis of changes in net debt Cash at bank and in hand |
of Financial At 1 January 2020 £ 87,109 87,109 |
2020 £ 25,059 9,659 (24) (48,036) 6,702 (6,640) 2020 £ 80,493 80,493 Cash flows £ (6,616) (6,616) |
2019 £ (52,593) 15,795 (267) (13,919) (45,283) (96,267) 2019 £ 87,109 87,109 At 31 December 2020 £ 80,493 80,493 |
|---|---|---|---|
21. Related party transactions
There are no identified related parties, other than the trustees.
No donations (2019: None) were received by the charity during the period from trustees.
Page 35
Project AWARE Foundation
The Pavilions, Bridgwater Road, Bristol, BS13 8AE
Mazars LLP 90 Victoria Street Bristol BS1 6DP
Dear Sirs,
Project AWARE Foundation – Financial Statements for the year ended 31 December 2020
We confirm to the best of our knowledge and belief, and having made appropriate enquiries of other trustees and officials of the charity, the following representations given to you in connection with the preparation of the charity's financial statements for the year ended 31 December 2020.
We acknowledge as trustees our responsibility for the true and fair presentation of the charity’s financial statements and for their preparation in accordance with applicable accounting standards and to comply with the Companies Act 2006.
All the relevant accounting records have been made available to you. All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and shareholders' meetings, have been made available to you.
We consider that the charity is entitled to the exemption from the requirements to produce audited accounts for the year ended 31 December 2020 under the exemption conferred by the Companies Act 2006, having turnover not exceeding £10,200,000, a balance sheet total of not more than £5,100,000 and the average number of employees not exceeding 50. We have not received notice from holders of 10% or more of the charity’s shares requesting an audit to be carried out, nor is the charity a member of a larger group.
We confirm that the following representations are made on the basis of enquiries by management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you.
Contingencies
There are no material contingent losses including pending or potential litigation that should be accrued where:
-
information presently available indicates that it is probable that an asset has been impaired or a liability had been incurred at the balance sheet date; and
-
the amount of the loss can be reasonably estimated.
There are no material contingent losses that should be disclosed where, although either or both the conditions specified above are not met, there is a reasonable possibility that a loss, or a loss greater than that accrued, may have been incurred at the balance sheet date.
There are no contingent gains which should be disclosed.
All material matters, including claims either made or of which we are aware, that may result in
Page 1 of 3
litigation against the charity have been brought to your attention.
Charges on assets
All the charity's assets are free from any charges exercisable by third parties except as disclosed to you related to finance and bank facilities and as included within the financial statements.
Impairment review – fixed assets
To the best of our knowledge, there is nothing to indicate that there is a permanent reduction in the recoverable amount of the fixed assets below their carrying value show in the balance sheet. Any further impairment review is therefore not considered necessary.
Fixed Assets
All fixed assets shown in the balance sheet are owned by the charity except where these are financed through hire purchase or leasing and which has been disclosed to you.
PayPal and World Pay cash/bank balances
We consider that the following balances are valid assets of the charity and are stated accurately and represent all and the only the funds held at Paypal and World Pay at the year end:
Account 11150 Cash in Bank – Paypal £1,706.98 Account 11155 Cash in Bank – Paypal Euro £2,660.44 Account 11162 Cash in Bank – World Pay Euro £820.28 Account 11163 Cash in Bank – World Pay GBP £406.27
Debtors
We consider due provisions have been made in the accounts for trade or other debtors where recoverable is unlikely or doubtful.
Creditors
We are not aware of any further creditor liabilities that need to be brought into the accounts.
Laws and regulations
We confirm that we have disclosed to you all those events of which we are aware which involve actual or possible non-compliance with laws and regulations, together with the actual or contingent consequences which may arise therefrom.
We have complied with all aspects of contractual agreements that would have a material effect on the accounts in the event of non-compliance.
Frauds and errors
There have been no frauds or irregularities involving management, employees or others who have significant roles in the accounting system and internal control structure and which could have a material effect on the financial statements.
Transactions with trustees
The charity has at no time during the year entered into any arrangement, transaction or agreement to provide credit facilities including loans, quasi-loans, credit transactions, mutually beneficial arrangements, or guarantees or security for the foregoing or assumed or assigned any such rights or liabilities for any trustees, shadow trustees, alternate trustees, or their connected persons, or nontrustee officers except as permitted by the Companies Act 2006 and as disclosed to you and shown in
Page 2 of 3
the financial statements.
No trustee or their connected persons had a direct or indirect material interest in any other transaction or arrangement with the charity other than those disclosed in accordance with the Companies Act 2006 or exempted from disclosure by the Act.
Related party transactions
All transactions and balances with related or associated parties, including sales, purchases, loans, transfers, leasing arrangements and guarantees have been properly recorded and have, where material and appropriate for the presentation of a true and fair view, been disclosed to you and included in the accounts.
Future commitments
We have no plans, intentions or commitments that may materially affect the carrying value or classification of assets and liabilities or give rise to additional liabilities.
Litigation
We are not aware of any pending litigation which may result in a significant loss or cost to the charity.
Post balance sheet events
There have been no further events since the balance sheet date which necessitate revision of the figures included in the financial statements or inclusion of a note thereto. Should further material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly.
Going concern
To the best of our knowledge there is nothing to indicate that the charity will not continue as a going concern in the foreseeable future. The period to which we have paid particular attention in assessing the appropriateness of the going concern basis is not less than twelve months from the date of approval of the accounts.
COVID-19
We have considered the uncertainty associated with the charity's future prospects, trading performance and funding in regard to COVID-19 and are not aware of any significant impact to the business as a result. We confirm that provisions in relation to the business impact of COVID-19 have been recognised in the accounts as appropriate. We confirm that we have paid particular attention to the going concern status of the charity and whether there are any events after the balance sheet date that would require highlighting to you.
Yours faithfully
Signed - trustee ………………………. S M PLeydellS M PLeydell (Oct 26, 2021 16:45 GMT+1)
Oct 26, 2021
Date …………………….
Name: S M Smith
Project AWARE Foundation
Page 3 of 3