Company registration number.. 06087344 Charity registration number: 1122701 Mass Extinction Monitoring Observatory (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 January 2024
Mass Extinction Monitoring Observatory Contents Reference and Administrative Details Trustees. Report 2to3 Statement of Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet 7t08 Notes to the Financial Statements 9t016
Mass Extinction Monitoring Observatory Reference and Administrative Details Trustees and officers The trustees and offirS serving during the year and Sin the year end were as follows.. Trustees.. Sir Ghillean Pran FRS VMH (Chairman to 8 December 2023) Dame Mary Marsh {Chair from 8 December 2023) Dame Julia Cleverdon DBE Peter Cruttwell (Deceased 6 March 2023) Sue Lyons Andy Matthews Mr Matthew Moore Michael Murphy Sir Tim Smit KBE Ms Raina Summerson Charity Registration Number= 1122701 Company Registration Number: Registered offi.. 06087344 Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW 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 2024. Legal status & Objects The Charity is a company limited by guarantee. The goveming 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. 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 Sixth Extinction. Catalysing a sense of agency, choice, and action - inspiring positive change for humanity. Contributing to the social, environmental and economic regeneration of Portland. 'the Review of Main Activities and Achievements The Trustees continue to support the project to achieve scaleable solutions. During the calendar year 2023 at the request of Dorset Council the main focus has been around improving our business case working with Savills Economics and representatives from Eden. Initially this was driven by the possibilities of being included in a Levelling Up Round 2 funding but this subsequently broadened out into a wider approach with the intention of securing additional interest from Higher Education establishments. Funding was secured from a number of charitable. business and individuals to support this and general project development. 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 surplus by £68,156 (2023.. £31,033 in defecit) at the balance sheet date. We are being supporled by private donors and furlher future grant funding is being negotiated. In the longer temi, the Trustees are confident that our fund-raising focus to achieve local and national recognition which will Ihen activate both philanthropic and ongoing business revenue will be successful. On this basis the Truslees are satisfied that the Charity will be able to meet its liabilities and so continue to adopt the going-concem basis of preparation in these Accounts.
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 charits 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. Small companies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the Trustees of the Charity on 26 November 2024 and signed on its behalf by: Andy Matthews Trustee
Mass Extinction Monitoring Observatory Statement of 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- select suitable accounting policies and apply them consistenlly; observe the methods and principles in the Charities. SORP" make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable companvs 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. The trustees are responsible for the Maintenan and integrity of the corporale and financial information included on the charitable companys website. Legislation goveming the preparation and dissemination of financial statements may differ from legislation in olherjurisdictions. Approved by the Trustees of the Charity on 26 November 2024 and signed on its behalf by: Andy Matthews Trustee Page 4
Mass Extinction Monitoring Observatory Independent Examiner's Report to the trustees of Mass Extinction Monitoring Observatory ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024. 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 gtven by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe= 1. accounting records were not kept in respect of Mass Extinction Monitoring Observatory as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those records" or 3. th8 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 examinakn'on: or 4. 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 lapplicable to charib'es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)]. At the year-end there is a degree of uncertainty regarding the financial outcome of future years. As stated in the Trustee Report and going concem accounting policy, financial support is provided from private donors and future grant funding is being negotiated. We understand trom the Trustees that they have every reason to believe that this support will continue. At the year end intangible fixed assets of £60.000 were held in respect of intellectual property rights, purchased in 2019120, at that time the trustees were satisfied that the Eden Portland Project would be a commercial success. The balance sheet value is uncertain as further funding for the Eden Portland Project has not been confirmed and the asset does not meet the criteria for recognition as intellectual property rights under FRS102. The next tranche of funding rf awarded will be notified during 2024125. once notified the trustees will be reviewing the value and making a provision against the asset if appropiate. 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. Adrian Way FCA (a director of PKF Francis Clark) Chartered Accountants Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW 28 November 2024 Page 5
Mass Extinction Monitoring Observatory Statement of Financial Activities Year Ended 31 January 2024 (Including Income and Expenditure Account) Total 2024 Unrestricted Note Income and Endowments from: Donations and legacies 124,620 124,620 Total Income 124,620 124,620 Expenditure on: Charitable activities (25,431) (25,431) Total Expenditure (25,431) (25,431) Net income 99,189 99,189 Net movement in funds 99,189 99,189 Reconciliation of funds Total funds brought forward (31,033) 68,156 (31 ,033) 68,156 Total funds carried forward 17 Unrestricted funds Total 2023 Note Income and Endowments from: Donations and legacies 60.029 60,029 Total income 60.029 60,029 Expenditure on: Charitable activities {43,030) (43,030) Total expenditure (43,030) (43,030) Net income 16.999 16,999 Net movement in funds 16.999 16,999 Reconciliation of funds Total funds brought forward {48,032) {31,033) (48,032) (31,033) Total funds carried forward 17 All of the Charity's activities derive from continuing operations during the above periods. The funds breakdown for 2023 is shown in nole 17. The notes on pages 9 to 16 fomi an integral part of these financial statements. Page 6
Mass Extinction Monitoring Observatory (Registration number: 06087344) Balance Sheet as at 31 January 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets Heritage assets 60.001 404 59,493 60,001 606 59,493 10 119,898 120,100 Current assets Debtors Cash at bank and in hand 12 29,395 32.117 10,068 10,659 61.512 20,727 Creditors: Amounts falling due within one year 13 106,597) 106,320) Net current liabilities 45,085) 85,593) Total assets less current liabilities 74.813 34,507 Creditors: Amounts falling due after more than one year 14 (6,656) (65,539) Provisions 15 Net assetsl(liabilities) 68.156 31,033 Funds of the Charity: Unrestricted income funds Unrestricted 68.156 31,033) (31 ,033) Total funds 17 68,156 The notes on pages 9 to 16 fomi an integral part of these financial statements. Page 7
Mass Extinction Monitoring Observatory (Registration number: 06087344) Balance Sheet as at 31 January 2024 For the financial year ending 31 January 2024 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities.. The members have not required the Charity to obtsin an audit of its accounts for the year in question in accordance with section 476., and The directors acknowledge their responsibilities for complying wilh the requirements of the Act wilh respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements on pages 6 to 16 were approved by the trustees, and aulhorised for issue on 26 November 2024 and signed on their behalf by: Andy Matthews Trustee The notes on pages 9 to 16 fomi an integral part of these financial statements. Page 8
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 1 Charity status The charity is limited by guarantee, incorporated in and consequently does not have share capital. Each of the trustees is liable to contribule an amount not exceeding £10 lowards the assets of the charity in the event of liquidation. The address of its registered office is= Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW 2 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 concem 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 otheiSe stated in the relevant accounting policy notes. Going concern These financial statements have been prepared on a going COnM basis which is dependant upon the continued support of the Directors. plus the Directors, reasonable expectation of future funding from third parties. Exemption from preparing a cash flow statement As the charity is small it has taken advantage of the exemption from preparation of a cash flow statement and has 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 re1vable can be measured reliably. Page 9
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 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 resour$, 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 neSSary to support them. Governance costs These include the costs attributable to the Charitys Complian 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 reiVed 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 al cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives. Page 10
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 Tangible fixed assets Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impaimient 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 Fixtures and Fittings Depreciation method and rate 330/0 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 pemianent collection of carvings and bells, which will form part of the Charity's display collection. These assets are significant to the Charity because the Charitys 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 rna1ntenan 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 e1ve months after the reporting date. If there is an unconditional right to defer settlement for at least e1ve months after the reporting date. they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction pri and subsequently measured at amortised cost using the effective interest method. Concessionary loans Concessionary loans are recognised at the amount reived, adjusted to reflect interest payable where applicable. and are not discounted. Page11
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 Fund structure Unrestricted income funds are general funds that are available for use at the Trustees, discretion in furtheran of the Objects of the Charity. 3 Income from donations and legacies Unrestricted Total 2024 Total 2023 General Donations and legacies. Donations from individuals Grants, including capital grants-, Local authority and university grants 68,146 68.146 22,000 56,474 56.474 38,029 124,620 124,620 60,029 4 Expenditure on charitable activities Total 2024 Total 2023 Carriage Governance costs (see separate note) Consultancy fees Insuran Bank charges Depreciation of office equipment Sundry Events Travel expenses 360 1,092 36,740 2,018 114 298 136 2,272 2.288 20.066 2,140 98 202 428 209 25.431 43,030 Page 12
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 5 Analysis of governance and support costs Governance costs Total Total 2024 2023 Independent examiners fee Independent examiners fee overstated in prior year Accountancy fees 1,855 1.750 (900) 242 433 2,288 1,092 6 Net incomingloutgoing resources Net incoming resources for the year indude: 2024 2023 Depreciation of fixed assets Examiner's fee Examiner's fee understated in prior year 202 1.855 298 1,750 (900) 7 Trustees. remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. No other Trustees have received any reimbursed expenses or any other benefits from the Charity during the year. 8 Taxation The Company is a registered charity and its activities are exempt from taxation. Page 13
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 9 Intangible fixed assets Intellectual property rights Total Cost At 1 February 2023 60,001 60,001 At 31 January 2024 60,001 60,001 Amortisation At 31 January 2024 Net book value At 31 January 2024 60,001 60,001 At 31 January 2023 60,001 60,001 10 Tangible fixed assets Furniture and equipment Total Cost At 1 February 2023 5,178 5,178 At 31 January 2024 5,178 5,178 Depreciation At 1 February 2023 Charge for the year 4,572 202 4,572 202 At 31 January 2024 4,774 4,774 Net book value At 31 January 2024 404 404 At 31 January 2023 606 606 Page 14
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 11 Heritage assets Carvings and bells Total Cost At 1 February 2023 59,493 59,493 At 31 January 2024 59,493 59,493 Depreciation At 31 January 2024 Net book value At 31 January 2024 59,493 59,493 12 Debtors 2024 2023 Trade debtors Prepayments VAT recoverable 15.000 1.912 12,483 6,794 1,758 1,516 29.395 10,068 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals 101,742 4.855 104,570 1,750 106,597 106,320 14 Creditors: amounts falling due after one year 2024 2023 Other creditors 6.656 65,539 Page 15
Mass Extinction Monitoring Observatory Notes to the Financial Statements for the Year Ended 31 January 2024 15 Provisions Intellectual property provision Total At 1 February 2023 At 31 January 2024 16 Related party transactions Sue Lyons (Sue Lyons is a trustee) During the year, Sue Lyons donated (by way of loan conversion) £58,883 (2023: £5,000} to the charity. The amount due to Sue Lyons related to an interest free loan which is included in other creditors. At the balance sheet date, the amount due to Sue Lyons was £nil (2023 - £58,883). 17 Funds Balance at 1 February 2023 Incoming resources Resources Balance at 31 expended January 2024 Unrestricted funds General Unrestricted general fund 31.033 124.320 25,431 67,856 Balance at 1 February 2022 Incoming resources Resources Balance at 31 expended January 2023 Unrestricted funds General Unrestricted general fund (48,032) 60,029 (43,030) (31,033) Page 16