Registered Number 03927089 ANTARCTIC SCIENCE (a Gompany limited by guarantee) CHARITY NO 1090581 Directors. Report and Unaudited Financial Statements for the year ended 31 December 2024 Antarctic Science Year ended 31 December 2024 Company Inforniation ststus Antsrctic Suence is a company limited by guarantee and a registered d)arity govemed by rts memorandum and artides of asso(iation. Charity Number. 1090581 Director DrKRLash Prof. M J Bentley Dr J A Jad(son Mr M Pinnock Prof. D Pearce Dr M Taylor Dr A D Jungblut Prof P Convey Dr A Raya Rey Dr B Davies Dr L Grange Dr D Small (Resigneil 14 July 2025} (Appointed 1 August 2024 (Appointed 12 May 20251 Company Number 03927089 Registered Office BotaniG House 9&100 Hills Road Carnbridge Cambridgeshire CB21PH Independent examiner James Fran(xs FGA Ensors Accountants LLP Incubator 2 The Boulevard Enterprise Campu5 Huntingdon onbury PE28 4XA Solicitors Mills & Reeve BotaniG House 100 Hills Road Carnbridge C821PH Anlarctic Science Year ended 31 December 2024 Contenls Directors, rewrt Independent examinerfs report Slalemenl of finar￿la1 activities Balance sheet Notes lo the finawial slalements The followlng page doe5 not form part of the statutory accounts Detailed income and expenditure account 10 **Antarctic Science** ## **Year ended 31 December 2024** ## **Directors' Report** The directors present their report and the financial statements for the year ended 31 December 2024. ## **Structure and governance** The organisation is a charitable company limited by guarantee, incorporated on 16 February 2000 and registered as a charity on 13 February 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard FRS 102 Charities SORP (effective January 2015). ## **Objectives and activities** In planning the activities for the year the directors have had regard to the Charity Commissioners guidance on public benefit requirements. The object of the charity is to educate the public about the Antarctic and its environment by the publication of a scientific journal and by the promotion, support and dissemination of research. The journal attracts papers from all of the countries currently undertaking Antarctic research. It publishes both review and data papers as well as editorial comment and reviews of new publications. Profit from the journal is used to support early career scientists working in the polar sciences, by bursary awards and grants. In the light of improvements for public access to research publications supported by public funds demanded by European and American Governments, the journal has made all the necessary preparations to meet the Open Access requirements. This brings a fundamental change to income generation for the journal and it remains to be seen whether the same level of charitable activity can be maintained as the journal moves in to the new regime (likely to take 2-3 years). The trustees continue to work with the publisher (Cambridge University Press, CUP) to maximise our income. ## **Achievements and performance** The charity has continued to publish the journal with articles posted on-line as soon as they are ready and gathers them into issues every two months. The 2023 impact factor was 1.8 (cf 2022, 1.6). We published 38 Scientific papers and 2 Editorials across a range of scientific disciplines. The journal's move into the humanities and social sciences has been maintained with 4 papers published in these fields. In the 2024 round of bursary awards, 9 new awards were made from 16 valid submissions, to a total of £50,896. Note that in the accounts (charitable activities) the amount shown differs from this because 2 bursaries awarded in 2023 were claimed in 2024 and some 2023 and 2024 awards have not yet been claimed. This year the awards went to Australia, India, New Zealand, Spain, UK and USA. The mentoring scheme for candidates from non-English speaking countries, and a webinar run by the international Association of Polar Early Career Scientists (APECS), has continued with the aim of maintaining the number of bursary applications received and increasing the diversity of applicants Kate Hendry continues as Chair of the Board of Trustees. Dr. Laura Grange joined the Board in the summer of 2024 and Dr David Small joined the board in the spring of 2025. The Board met three times in 2024. The Board continues to hold the bursary awards meeting in-person (with an option to attend virtually if required) and conducts all other meetings (usually two) virtually. Time extensions, incurring no extra costs, have been agreed for several bursary awards. ## **Reserves Policy** The charity seeks to produce the best financial return within an acceptable level of risk and meeting ethical considerations. The trustees wish to keep at least 10% of the assets that can be realised within three months. ## **Financial Review** The reduction in income in the new publishing environment, together with rising publishing costs, has meant outgoings have exceeded income. This has been made sustainable by reducing the cash held on current account. In April 2024 the Board resolved to take no immediate action, given the many factors in-play, and to keep a close watch on finances. Reducing reserves, in order to maintain the same level of bursary awards (charitable activity) would be considered. The Board and Editor-in-Chief, working with our publisher, will continue to seek ways to promote the journal (so as to increase income) through social media activity, promotions at scientific conferences and broadening the scope of articles. ## **Directors** The directors who served during the year are stated below: Dr K R Lash Prof. M J Bentley (Resigned 14 July 2025) Dr J A Jackson Mr M Pinnock Prof. D Pearce Dr M Taylor Dr A D Jungblut Prof P Convey Dr A Raya Rey Dr B Davies Dr L Grange (Appointed 1 August 2024) Dr D Small (Appointed 12 May 2025) 1 Antarctlc Sclence Year ended 31 December 2024 Directors. Responsibilities The diredors are iespon5ible for preparing the Directors, ReFQrt and the financial ststernènts in accordance hith appli¢able Lqw and regulations. Company Lgw requires the directors to prepare fIna￿la1 statemants for each fin2nci21 year. UrKler that law the directors have elected to prepare the financial statemènts in accordance with United Kiwdom G￿￿erallY Accepted A¢c¢unting Prackn"ce (Unrted KirvJdom Accounting Standard5 and applica￿e law}. Under company law the director5 ffFUSt not approve the financial staternent5 unless thoy are sat15fied that they give a true and lair view of the slate of affairs of the ￿mpanY and of the profit or loss of the com￿nY for that p&riod. In preparing these financial statemènts, the directors are required to". -select suitable accounting polKies and ap￿Y I￿rn consistently, -make judgemerlts and estimates that are reasonable and prudent.. -prepare the financial ststements on the goiry ¢oncern basis unless it B irÈappropriate to presume that the companywill continLJe in business. The directors aro responsible for keeping adequate accounting records that are sufficient to show and explain the companls transactions and dts¢lose wrth reason3Ne accuracy at any time the firrdncial positDn of the company and enable them to ensure that the finarKial statements CoM￿Y with the Companies Act 2U)6 They are also responsible for safeguarding the assets of the cornpany and hence for taking reasonable 5tep5 for the prevention and detèction of fraud and other irr@gularthe$. Small Company exemptions Thr6 retM)rt is prepared in accordartt wrth the provisions applicable to companies enbled to the 5rnall companies exemption. Stgned on behalf of the directors M¥ M Pinnock Director Date.. Z3J tr.I go15 Antarctic Science Year ended 310ecember 2024 Independent examiner's report to the Trustees of Antarctic Science I rÈport to the charty trusteos on my examination of the accounts of the Company for the year ended 31 December 2024. which are set out on pages 4 to 10. Responsibiltties and basis of report As the Charitys trustees of the Company larKI also its directors for purposes of company lawl you are responsible for the preyaratson of the accounts in accordance with the requirements of the Companies Act ￿61'the 2C(6 A¢t'l. Having satisfied myEell thatthe a¢¢ounts of the Cornpany are not required to be audited undÈr P2rt 16 of the Act and are eligible for independent examin21ion, I report In respect of my examination of your ch8ritls accounts as carried out under section 145 of the Charitie5 Act 2011 I'the 2011 Act'l. IN carrwng out my examination I have followed the Dire¢tioY6 given by the Charity cornm15s￿n under seGtson ]￿(51 Ibl ol the 2011 Act. Independent examiner's statement I have completed my examination. l Confirm that material rnatters trove come to my attention in connection with the exarnination giving me ¢ause to believè". 1. accounting re¢ords wère not kept in re$ped of the Company as required by sedion 386 of the 2￿6 Act., or 2. the accounts th not acGord wth those records.. or 3. the a¢¢ounts do not comply wth the accounth.ng requirÈments of section 396 of the 2006 Act other than any requirement tkot the accounts give a'true and fair wew which is not a Matter considered as part of an independent examination". or 4. the accounts have not been prÈparÈd in accordance with the methods and Pri￿1vIeS of the Statèment of Recornmended Practice for a¢¢ounting and rÈporting by charities lapplicaue to tharities prepariro their accounts in accor(lawe with Financial Re[￿rtIng Standard applicable In the UK and Republic of Irèland l FRS 10211 have no concems and have come across no other matter5 in connectson with tho examination to which attention shoul(5 be drawn in this report in order t¢ ena￿e a proper understanding of the aGcounts to be reached James Francis FGA Ensors Accountants LLP ChaTtered Accountants Incubator 2 The Boulevard Enterprise Campus Huntingdon Alconbury PE28 4XA Date: Antarctic Science Year ended 31 December 2024 statement of Financial Actlvities {includlng Income & Expenditure A¢¢ounti for the year ended 31 December 2024 Unrestricted Funds Restrlcted Funds Total Funds 2024 Total Funds 2023 Note Income Income from s¢ientrfic journal other income Bank Interest Donations Totsl incorne 61.113 61,113 73,210 6.655 6,655 5,744 67.7e8 67,768 78,954 Expenditure Managing editor Charitable actpiities other costs Total expenditilfe 20.873 57.025 10.517 88.415 20,873 57,025 10,517 88,415 19.672 52,636 12.755 85.063 Net income for the year 120.64T) 12ts,647) 16,1091 Gain or loss on investment fund 2.162 2,162 6.745 Reconciliation of funds Tot21 funds brought forward 332.692 1.4(Kl 334,092 333.4 Total funds carried Yoward 314.207 1.400 315607 334 092 Antarctic Science Year ended 31 December 2024 Balance Sheet Notes 2024 2023 Fixed assets Tangible assets InvostmÈnts 107,462 105,3CI) Current assets Debtors Cash at bank aThl in hand 19,219 208.242 227.461 73.683 176.662 250,345 Creditors= arnounts falling due within one year 19.316 21.553 Ne* current assets 208,145 228,7 Total assets less current liabilities 315,607 334,092 Funds Restricted unrestr￿ted 10 1,400 314,207 1,4rKJ 332,692 315,607 334,092 Antaictl¢ Sclence Year ended 31 December 2024 Balance Sheet (continued) For the financial year ended 31 Oe¢ember 2024 the ¢ompany wa5 entiled to exemption from audit undèr section 477 of the C4mpanies Act 2CQ6 reLqts"w to sm211 companie5. The directors a¢knO¥￿edge their responsI￿litieS for cornplying with the r8quirement$ ol the Cornpanies Act 2O)S resport to accounb.ry record5 and the preparation of Iinancial ststements. The members have not required the company to obtain an audit ol its financMI $tstements forthe year in question in accordance with seCt￿n 476. These financial statements have been prepared n aCCordar￿e the provision5 applicatle to cornpanies subje¢t lo the small ¢ompanie5 iegime, The financial statements were approved by the board of directors and aut￿riSed for issue on 2 June 2025 and are signed on its behalf by.. Mr M Pinnock Director Date.. Z3& Aols Company Registration No. 03927089 Antarctic Science Year ended 31 December 2024 Notes to the flnanclal statements 1 Accounting poltcies Company information Antarctic Science Limrted Is a company limited by guarantee in¢orp>rated in England and Wales, registration nUM￿r 03927089. The registered offi¢e is Botanic House, 9&1(KJ Hills Road, CambridgÈ, C2rnbridgeshirÈ. CB2 1PH. A¢counting convention These financial statements aro prepared in ac¢Drdan¢e with FRS 102"The FInar￿la] Rel￿rting Stsndèrd applIcat￿e in the UK and Rewblic of Ireknd I'FRS 102 Charities SORP) and in accordance with the Cornpanie5 Act 2006. The linan¢ial statements are prepared in slerliro. ￿lch is the fLInct￿n31 currency of the company. Monetary amounts in these financial ststement5 ale rounded to the nearest £. Going Goncern The financial ststements have been prepared on a going concern basis as, after making appropriate Ènquiries. the directors hav& reasonatd8 expectation that the company has adequate resources to continue in operational existence for the f0reseeal￿e future at the time of apwoving the finan¢ial statements Income All incoming resources are included in the siatement of financial actwities when the charity is entitled to tho income and the amount can quantified with reaSona￿e accuracy. The following 5pEcifK policies are applied to particular categorie5 of incorne". S¢ientifi¢ journal income Income 15 derived from a share of the profit5 fforn the pu￿rca￿.0n of the Journal Antarctic Science and Is Included in the per￿￿ to which the purnal relates. Turnover is the amount dervied from the provision of goodslservices, and stated after trade discounts. other sale5 tsxes and net of VAT. Donations Oonatk?ns are recognised at the point in which they are received by the charitable company. Re5trthd funds are subJ"eGt to 5peufic conditv)ns by dorK>rs as to how they may be used The purrM)ses and uses of tho restricted funds are set out in notes to the financial statements. Interèst receivablè Interest 15 irKluded when iecewabk bythe charitable company. Expenditure ExFÉnditure recognised on an accruals basis as a liabilty is incurred. Expenditure InclLK5es VAT, whKh is not recovered, and is rewrted as part of thÈ exKÈnditure to which it reLqtes. Ckorit8ble ex￿nditure comprises those cost5 incurred by the ckoritable company in the delivery of its activities and services for its boneficiariÈs. Governance costs include those costs associat￿ wth meeting the constitthional and ststutory requirement5 of th8 charitable cornpany and include accountancy fees and cost5 linked to the rnanagement of the charity. The charrtable company rnakes gratrts at the discretion of the trustees. The grants are charged to tho Ststement of Finawial A¢tDiitios in the yeai that tWy are awarded. Tangible Fixed assets and depreciation Depreuation 15 prowded at rates calculated to wrrte off the ¢o$t less iesidual value ¢1 ea¢h asset over its exwcted useful life, as follows.. Computer equipment- Hardware Computer equipment- Sof￿r¢ 33% straight line 2 Incorne The turrK>ver and ￿et inGoming resour￿ lor the year are attributablè tts the prin¢ipal activity of the charitable Company which IS the publication of a scientific journal. Tur￿Ver is recogni%od on an accruals basis. Antarctic S¢len¢e Year ended 31 December 2024 Notes to the financial statements 3 Total expenditure 2024 2023 Journal Costs Managing editor 20,873 19.672 20 Charitable activities Payrnent ol Ixjrsariès S7,025 $2,636 57,025 52,638 The bur5arie5 are paid to youry Antarctic scientists to enable them to pursue research projects. Other costs Meetings Accountancy Legal and professional Websrte cosis 1,043 2.376 6,661 2,105 4.920 Bank Charges Sub5¢riptions Sundry Printing 8nd stationery DonatK>ns 361 119 85 10.517 12,755 Total expenditure 88,415 85,063 4 Trustees emoluments Trustees re¢epJed no remuneration12023- £nill but were reimbursed expenses 01£70412023- £590) for travel and subsistence. There vras an exFense Incurred in the year of £16012023- £4531 for tho Tru5lees meeting. There were no expenses in tho year12023- £291 for a one off small gift provided to a leawng knard member. lrtlLKled within rnarketing ¢ostS 15 £2,50012023- £2,WOI ol reimbursed expenses to a trustee in relation to travel to a conference for journal promots'on. 5 Taxation The charitable company has Th) l&qbility to corporation tsx for the year ended 31 December 2024 due to its charrtable status. Year ended 31 December 2024 Notes to the finan¢lal ststements 6 Tangible fixed assets Fixtures, fittings equipment Cost At 1 January 2023 Additions DEposals At 31 Docember 2024 1,170 1.170 Depreciation At 1 January 2023 Charge for the year On disposals At 31 DÈcember 2024 1,170 1.170 Net book value5 At 31 December 2024 At 31 December 2023 7 Market investments Cosl or valuation At 1 January 2023 Additions Income retained in acCo￿nt Revaluation Diswsals At 31 December 2024 105,3 2,162 107,462 Cariying amount At 31 December ￿24 Al 31 Decemkr 2023 107,462 8 Debtors 2024 20rJ Trad& debtors Prepayments and a¢¢rued income 19,219 73.209 473 19,219 73,683 9 Creditors.. amounls falling due wthin one year 2024 2023 Accruals & d8ferred income 19.316 21.553 19.316 21.553 10 Restricted funds There is a historical amount brought forward of £1.400, these donations must be used 501ety for bu5aries. 11 Control ThÈ company is limitèd by guarantee and has no share capi121. Under tho terms of tho memorandum and articles each member is liable to contribute a surn not exceedin9 £1 in the event of the cornpany being wound up Year ended 31 December 2024 Detalled income and expendlture account 2024 Total 2023 Total Income 61.113 73,210 Managing editor Website ¢osts Meeting5 Accountawy Bank charges L&gal and professronal Bursaries Subscriptions Sundry Prinb"ng and stationery DonatK>ns 20.873 4.920 864 2.499 80 2.￿0 57,IY25 19,672 2,105 1.043 2.376 6.661 52,636 361 60 119 85 88,415 85,083 Operating surplus Ideficitl 27,302 11.854 Interest receivable Bank deposit Interest Gain or loss on investment fund 6,eés 2.1&2 5.744 6,745 Nèt SUTpIu5 Ideficitl for the year 636 10