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2022-01-31-accounts

Mass Extinction Monitoring Observatory

(A company limited by guarantee)

Annual Report and Financial Statements Year Ended 31 January 2022 Company registration number: 06087344 Charity registration number: 1122701

Mass Extinction Monitoring Observatory

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Statement of Trustees' Responsibilities 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 17

Mass Extinction Monitoring Observatory

Reference and Administrative Details

Trustees Sir Ghillean Prance FRS VMH (Chairman) Dame Julia Cleverdon DBE Peter Cruttwell Sue Lyons Dame Mary Marsh (appointed 10 August 2022) Andy Matthews Mr Matthew Moore Michael Murphy (appointed 10 July 2022) Sir Tim Smit KBE Ms Raina Summerson Secretary Peter Cruttwell Registered Office Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW Company Registration Number 06087344 Charity Registration Number 1122701 Independent Examiner PKF Francis Clark Chartered Accountants Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW

Mass Extinction Monitoring Observatory

Trustees' Report

The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 January 2022.

Legal status & Objects

The Charity is a company limited by guarantee. The governing document is the Charity's Memorandum and Articles of Association dated 6 February 2007, as amended 7 February 2008. The Charity’s objectives are to advance the education of the public, including the promotion of study and research for the public benefit into the extinction of animals, flora and fauna and to promote the preservation and protection of the environment and of endangered species by the construction and operation of a new public education centre, with a specific focus upon biodiversity. HRH Prince Philip, Duke of Edinburgh KG is the Charity’s Royal Patron.

Vision

A future in which the sixth mass extinction - the first human-induced extinction - has been stopped and large-scale regeneration of biodiversity is delivered as a fundamental responsibility of society.

Mission

• Fostering public understanding of the global crisis of species extinction and biodiversity loss - ‘the Sixth Extinction.’

Review of Main Activities and Achievements

Following a challenging year adapting to the curtailment of activities enforced by the pandemic and associated lockdowns, the Trustees have now laid the foundations for a robust and resilient future. This has involved pursuit of an integrated two-pronged strategy: developing an innovative phased approach to the site on Portland in order to better accommodate the likely scale of relevant public funds and thereby making the opening of the site on Portland both more likely and quicker; and at the same to develop education and engagement programmes on biodiversity which can “stand alone” prior to the opening of the site and at the same time inform the development of outreach programmes once the site is open. This two-pronged approach has successfully strengthened existing partnerships, provided opportunities to forge new ones, and leaves the Charity in a much more resilient position to achieve mutually-supporting immediate and long-term aims into the future.

The Trustees have identified an unusual scalability inherent to the site and plans for its development and this has informed and facilitated a robust plan for a £30m Phase 1 opening of the site which does not inhibit the implementation of the full £59m vision in the future. Because the Mine already exists, further expansion of the underground visitor experience following an initial opening is entirely feasible in a way unavailable to a more conventional construction project. With the Beacon, the innovative solution to scalability has been to restrict Phase 1 development to the laying of the foundations and the first storey only. In this way, the stonemasonry and carving work entailed in creating the full structure Beacon will become part of the “show” for visitors as at the Sagrada Familia in Barcelona.

Page 2

Mass Extinction Monitoring Observatory

Trustees' Report

This approach has also afforded two new knock-on benefits. It means the adoption of a solid-stone “slow-build” construction method over the original plans for a clad structure which will render the carbon performance of the construction quite exceptional and eliminate disruption to the local community during construction because 99% of materials will be sourced from the site itself. It will also facilitate a new partnership with Weymouth College to resurrect the College’s stonemasonry training on our site. Formerly a “national centre of excellence” the College’s stonemasonry course closed in 2021 after more than 50 years and partnership with the College will entail the training of 30 students and apprentices on site on the project, a powerful social intervention in an area with high incidence of NEETS among 16 to 24 year olds.

The new phased approach has also had the effect of re-energising core partnerships with Eden Project International, Adjaye Associates and Albion Stone, and by diminishing the scale of investment necessary for an opening, given new confidence to Dorset Council, the key local stakeholder, on fundraising.

Alongside the development of these plans the Trustees have forged new partnerships with Nottingham Trent University’s “Global Heritage Initiative”, local group Island Community, and the two schools on the island, Atlantic Academy and St. George’s Primary on a successful schools initiative “signthetree”. Beginning on the island “signthetree” has involved “the Earthlings Assembly” a sound and light show by theatre company Wildworks as part of the b-side festival, a wonderful ”bioblitz” day at Atlantic, four consultation days with school groups at both schools on the island, the involvement of 10 further schools and 2000 children on the mainland, and exhibition of “signthetree” at cop-26 where it was viewed by at least three heads of state!

The success of “signthetree” and the quality of the partnerships forged in its delivery have prompted new plans for a new digital dimension to the Project to be developed in the coming year/s: a “signthetree” app which enable participation in schools anywhere; and a full digital version of the project “edenportland.digital”, envisaged as a powerful and engaging educational resource on biodiversity for schools centered on a 3-D scan of the Mine rendered as a “gamified” virtual environment.

These plans for a digital dimension to the Project, and the partnerships they entail, will enable the Trustees to deliver on our charitable mission on biodiversity education in the immediate term while at the same time supporting pursuit of fundraising to open the site on Portland on the basis of the new phased approach. By laying solid foundations for both elements of the new strategy over the course of this year, the Charity has secured the necessary flexibility to focus on immediate or longer-term aims as both challenges and opportunities allow thereby establishing the necessary resilience for the delivery of its charitable mission on biodiversity in the years ahead.

Financial review and going concern

The financial results for the period and the position at the period end are shown in the attached financial statements.

The Charity’s unrestricted funds were in deficit by £48,032 at the balance sheet date. We are being supported by private donors and future grant funding is being negotiated. In the longer term, the Trustees are confident that our fund-raising drive, which was seriously delayed in 2020/21 by Covid-19, will be successful as the association with Eden International takes shape and as explained in the Activities and Achievements section of this report. On this basis the Trustees are satisfied that the Charity will be able to meet its liabilities and so continue to adopt the going-concern basis of preparation in these Accounts.

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Mass Extinction Monitoring Observatory

Trustees' Report

Reserves policy

The Trustees have not yet developed a reserves policy and cannot reasonably do so until the Project envisaged in the Memorandum of Understanding between MEMO and the Eden Project International Limited has been achieved.

Methods for the appointment of Trustees

The Board of Trustees includes a balance of commercial, scientific and educational expertise, along with a representative of MEMO’s partner organisation, The Eden Project. As the Charity’s operations develop and expand, the Trustees continue to monitor the skills required on the Board and will consider recruiting additional expertise as the need arises. In the longer run, close regard will be paid to the composition of both this Board and that of Eden Portland.

The annual report was approved by the Trustees of the Charity on 19 November 2022 and signed on its behalf by:

......................................... Peter Cruttwell Company Secretary and Trustee

Page 4

Mass Extinction Monitoring Observatory

Statement of Trustees' Responsibilities

The Trustees (who are also the directors of Mass Extinction Monitoring Observatory for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. 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 charitable 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:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees of the Charity on 19 November 2022 and signed on its behalf by:

......................................... Peter Cruttwell Company Secretary and Trustee

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Mass Extinction Monitoring Observatory

Independent Examiner's Report to the Trustees of Mass Extinction Monitoring Observatory

Independent Examiner’s report to the Trustees of Mass Extinction Monitoring Observatory

I report to the Charity's Trustees on my examination of the accounts of the Company for the year ended 31 January 2022.

Responsibilities and basis of report

As the Charity’s Trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company 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 your charity’s accounts 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(5) (b) of the 2011 Act.

Independent Examiner’s statement

At the year-end there was a deficit in the Charity unrestricted funds of £48,032 and there is a degree of uncertainty regarding the financial outcome of future years. As stated in the Trustees' Report and going concern accounting policy, financial support is provided from private donors and future grant funding is being negotiated. We understand from the Trustees that they have every reason to believe that this support will continue.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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.

...................................... Anne-Marie Gates FCCA FCA (a partner of) PKF Francis Clark, Chartered Accountants Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW Date: 25 November 2022

Page 6

Mass Extinction Monitoring Observatory

Statement of Financial Activities

Year Ended 31 January 2022 (Including Income and Expenditure Account)

Note
Income and Endowments from:
Donations and legacies
2
Total Income
Expenditure on:
Charitable activities
3
Total Expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14
Note
Income and Endowments from:
Donations and legacies
2
Total Income
Expenditure on:
Charitable activities
3
Total Expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
funds
£
26,160
26,160
(36,200)
(36,200)
(10,040)
(10,040)
(37,992)
(48,032)
Unrestricted
funds
£
34,359
34,359
(39,215)
(39,215)
(4,856)
(4,856)
(33,136)
(37,992)		 Total
2022
£
26,160
26,160
(36,200)
(36,200)
(10,040)
(10,040)
(37,992)
(48,032)
Total
2021
£
34,359
34,359
(39,215)
(39,215)
(4,856)
(4,856)
(33,136)
(37,992)

All of the Charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 14.

Page 7

Mass Extinction Monitoring Observatory

Balance Sheet

31 January 2022

Note
Fixed assets
Intangible assets
8
Tangible assets
9
Heritage assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: Amounts falling due within one year
12
Net current liabilities
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
13
Provisions
Net liabilities
Funds of the Charity:
Unrestricted income funds
Unrestricted funds
Total funds
14		 2022
£
60,001
904
59,493
120,398
2,726
532
3,258
(106,148)
(102,890)
17,508
(65,539)
(1)
(48,032)
(48,032)
(48,032)		 2021
£
60,001
1,349
59,493
120,843
2,734
9,919
12,653
(105,948)
(93,295)
27,548
(65,539)
(1)
(37,992)
(37,992)
(37,992)

Page 8

Mass Extinction Monitoring Observatory

Balance Sheet

31 January 2022

For the financial year ending 31 January 2022 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 7 to 17 were approved by the Trustees, and authorised for issue on 19 November 2022 and signed on their behalf by:

......................................... Peter Cruttwell Company Secretary and Trustee

Company Registration Number: 06087344

Page 9

Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared on the going concern basis and in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Mass Extinction Monitoring Observatory 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 notes.

Going concern

The financial statements have been prepared on a going concern basis. As explained in the Trustees' Report, the board have considered the uncertainty relating to the coronavirus pandemic, economic uncertainty and the impact on the Charity’s operations and finances in the short to medium term. In the opinion of the board, with the support of the Eden Project, concessionary loans from current and past board trustees, donations received from trustees and proactively managing cash-flow the Charity has sufficient working capital to continue to meet its financial obligations and pay its liabilities as they fall due for the foreseeable future and therefore the financial statements have been prepared on a going concern basis. The Board have considered the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of additional support received for the Charity to be able to continue as a going concern.

Exemption from preparing a cash flow statement

The Charity adopted Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 10

Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

Donations and legacies

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the Charity has an entitlement to the funds and any conditions linked to the grants have been met. Where unconditional entitlement has been met but funds have not yet been received, the balance is recognised as accrued income. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees’ meetings and reimbursed expenses.

Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

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Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

Tangible fixed assets

Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Fixtures and Fittings 33% Reducing balance

Heritage assets

Heritage assets are held at cost. The assets are deemed to have an indefinite life and are therefore not depreciated. Impairment is considered when there are signs of physical deterioration. The assets are maintained and are intended to be preserved to the standard at which they were acquired.

Heritage assets held are a permanent collection of carvings and bells, which will form part of the Charity's display collection.

These assets are significant to the Charity because the Charity's objects are to advance the education of the public, including the promotion of study and research for the public benefit into the extinction of animals, flora and fauna and to promote the preservation and protection of the environment and of endangered species by the provision and maintenance of the Mass Extinction Monitoring Observatory. The assets are used by the Charity for these purposes.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Concessionary loans

Concessionary loans are recognised at the amount received, adjusted to reflect interest payable where applicable, and are not discounted.

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Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

Fund structure

Unrestricted income funds are general funds that are available for use at the Trustees' discretion in furtherance of the Objects of the Charity.

Pensions and other post retirement obligations

The Charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Local authority grants
3
Expenditure on charitable activities
Travel and subsistence
Governance costs (see separate note)
Other consultancy fees
Insurance
Bank charges
Depreciation of office equipment
Advertising
Sundry		 Unrestricted
funds
General
£
3,160
-
23,000
26,160		 Total
2022
£
3,160
-
23,000
26,160
Total
2022
£
-
4,701
28,964
1,993
84
445
-
13
36,200		 Total
2021
£
29,350
5,009
-
34,359
Total
2021
£
273
2,320
33,841
1,807
87
674
200
13
39,215

Page 13

Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

4 Analysis of governance and support costs

Governance costs

Independent examiners fee
Independent examiners fee overstated in prior year
Accountancy fees
5
Net incoming/outgoing resources
Net outgoing resources for the year include:
Depreciation of fixed assets
Examiner's fee
Examiner's fee understated in prior year		 Total
2022
£
4,500
-
201
4,701
2022
£
445
4,500
-		 Total
2021
£
4,000
(2,100)
420
2,320
2021
£
674
4,000
(2,100)

6 Trustees' remuneration and expenses

During the year the Charity made the following transactions with Trustees:

Peter Cruttwell

During the year £nil (2021: £123) of expenses were reimbursed.

No other Trustees have received any reimbursed expenses or any other benefits from the Charity during the year.

7 Taxation

The Company is a registered charity and its activities are exempt from taxation.

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Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

8 Intangible fixed assets

Cost
Development costs B/FWD
At 31 January 2022
Amortisation
At 31 January 2022
Net book value
At 31 January 2022
At 31 January 2021
9
Tangible fixed assets
Cost
Fixtures and fittings cost b/fwd
At 31 January 2022
Depreciation
At 1 February 2021
Charge for the year
At 31 January 2022
Net book value
At 31 January 2022
At 31 January 2021		 Intellectual
property
rights
£
60,001
60,001
-
60,001
60,001
Furniture
and
equipment
£
5,178
5,178
3,829
445
4,274
904
1,349		 Total
£
60,001
60,001
-
60,001
60,001
Total
£
5,178
5,178
3,829
445
4,274
904
1,349

Page 15

Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

10 Heritage assets

10 Heritage assets
Cost
At 1 February 2021
At 31 January 2022
Depreciation
At 31 January 2022
Net book value
At 31 January 2022
11 Debtors
Prepayments
VAT recoverable
12 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals
13 Creditors: amounts falling due after one year
Other creditors		 Carvings
and bells
£
59,493
59,493
-
59,493
2022
£
1,666
1,060
2,726
2022
£
98,860
1,288
6,000
106,148
2022
£
65,539		 Total
£
59,493
59,493
-
59,493
2021
£
1,660
1,074
2022
£
1,666
1,060
2,726
2022
£
98,860
1,288
6,000
106,148
2022
£
65,539
2,734
2021
£
100,660
1,288
4,000
105,948
2021
£
65,539

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Mass Extinction Monitoring Observatory

Notes to the Financial Statements

Year Ended 31 January 2022

14 Funds

Unrestricted funds
General
Unrestricted general fund
Unrestricted funds
General
Unrestricted general fund		 Balance at 1
February
2021
£
(37,992)
Balance at 1
February
2020
£
(33,136)		 Incoming
resources
£
26,160
Incoming
resources
£
34,359		 Resources
expended
£
(36,200)
Resources
expended
£
(39,215)		 Balance at
31 January
2022
£
(48,032)
Balance at
31 January
2021
£
(37,992)

15 Related party transactions

Peter Cruttwell

(Peter Cruttwell is a trustee)

The amount due to Peter Cruttwell at the balance sheet date is £1,288 (2021: £1,288)

Sue Lyons

(Sue Lyons is a trustee)

During the year, Sue Lyons donated £Nil (2021: £10,000) to the charity. The amount due to Sue Lyons relates to an interest free loan which is included in other creditors. At the balance sheet date, the amount due to Sue Lyons was £58,883 (2021 - £58,883).

Page 17