DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
Registered number: 06564642 Charity number: 1124840
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH
(A Company Limited by Guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 12 |
| Independent Auditors' Report on the Financial Statements | 13 - 17 |
| Statement of Financial Activities | 18 |
| Balance Sheet | 19 |
| Statement of Cash Flows | 20 |
| Notes to the Financial Statements | 21 - 38 |
DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
| Trustees | Prof S Chown, President |
|---|---|
| Dr M Ravichandran | |
| Prof J Simoes | |
| Prof G Wilson | |
| Dr Y Kim | |
| Prof D Karentz | |
| Company registered number 06564642 Charity registered number 1124840 Registered office Scott Polar Research Institute Lensfield Road Cambridge CB2 1ER Executive officer Dr Eoghan Griffin Executive director Dr Chandrika Nath Independent auditors Peters Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA Bankers HSBC Cambridge Cambridgeshire CB2 3BZ Investment Managers Rathbone Investment Management Limited 8 Finsbury Circus London EC2M 7AZ |
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the audited financial statements of the company 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) (second edition of the Charities SORP (FRS102) October 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
The Trustees have considered the charity’s benefit to the public. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit when reviewing the charity’s aims and objectives as detailed below and in planning future activities.
The charity has two main objectives;
1) To advance and promote scientific knowledge, understanding and education on any aspect of the Antarctic region, on the role of the Antarctic region in the Earth system, and on the effect of global change on the Antarctic region; and
2) To initiate, facilitate, co-ordinate and encourage international scientific research activity in the Antarctic region, on the role of the Antarctic region in the Earth system, and on the effect of global change on the Antarctic region.
In addition the Charity may further the Objects in particular but not exclusively by:
(a) providing objective and independent scientific advice to the Parties to the Antarctic Treaty and other organisations on issues of science and conservation affecting the management of the Antarctic region and the Southern Ocean;
(b) facilitating free and unrestricted access to scientific data and information regarding the Antarctic region;
(c) developing scientific capacity in the Members of the Charity and young scientists, and to promote the incorporation of Antarctic science in education at all levels, and
(d) communicating scientific information about the Antarctic region to the public.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
OBJECTIVES AND ACTIVITIES (CONTINUED)
b. STRATEGIES AND ACTIVITIES FOR ACHIEVING OBJECTIVES
A new Strategic Plan for 2017-2022, titled “Connecting and Building Antarctic Research”, was developed through 2015 and 2016 and was published in early 2017 (https://www.scar.org/horizon/strategic-plans/). Under this Strategic Plan, SCAR’s vision is to create a legacy of Antarctic research as a foundation for a better future. In line with this vision, through scientific research and international cooperation SCAR will work towards a more thorough understanding of the nature of Antarctica, the role of Antarctica in the global system, and the character and effects of environmental change and human activities on Antarctica.
SCAR has in recent years focused its scientific efforts on its Scientific Research Programmes (SRPs) addressing major topical issues of the day, each of which has a lifetime of 8 years. 5 of these came to an end in 2020: the Scientific Research Programs for SCAR were:
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State of the Antarctic Ecosystem (AntEco)
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Antarctic Thresholds - Ecosystem Resilience and Adaptation (AnT-ERA)
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Antarctic Climate Change in the 21st Century (AntClim21; formerly PACE)
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Past Antarctic Ice Sheet Dynamics (PAIS)
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Solid Earth Responses and influences on Cryospheric Evolution (SERCE)
The Astronomy & Astrophysics from Antarctica (AAA) SRP ran from 2010 to 2018, and was approved to become an Expert Group until 2020 following the decision of the 2018 Delegates Meeting, and has been further approved to continue until at least 2022.
Following proposals developed by Programme Planning Groups (PPGs), three new SRPs were approved in 2020 and have begun activities in early 2021:
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Integrated Science to Inform Antarctic and Southern Ocean Conservation (Ant-ICON) will answer fundamental science questions (as identified by the SCAR Horizon Scan) relating to the conservation and management of Antarctica and the Southern Ocean and focus on research to drive and inform international decision-making and policy change.
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INStabilities and Thresholds in ANTarctica (INSTANT) will address the first-order question about Antarctica’s contribution to sea level. Encompassing geoscience, physical sciences and biological sciences, it aims to quantify the Antarctic ice sheet's contribution to past and future global sea-level change.
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Near-term Variability and Prediction of the Antarctic Climate System (AntClimnow) will investigate the prediction of near-term conditions in the Antarctic climate system on timescales of years to multiple decades. Taking an integrated approach, it will consider the Antarctic environment as a whole.
Links to individual groups and further details are provided at: https://www.scar.org/science/srp/
SCAR also supports a variety of other scientific activities in which value is added to national efforts through international cooperation. These activities are coordinated by three Science Groups (SGs, for respectively Physical Sciences, Geosciences, and Life Sciences) and managed by Action Groups operating for short periods, and Expert Groups where more time is needed to achieve objectives. The Science Groups were referred to as “Standing Scientific Groups” prior to the 2016 Delegates meeting in Kuala Lumpur. All these groups are allocated funding by SCAR to carry out their activities (see https://www.scar.org/about-us/scar-overview/) and the reports are made freely available on the groups webpages (e.g. https://www.scar.org/science/research-overview/).
At the 2018 Delegates Meeting, a new Standing Committee for the Humanities and Social Sciences was (SCHASS) was approved, which reflected the growth of the research area and the success of previous Expert Groups on History and Humanities and Social Sciences.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
OBJECTIVES AND ACTIVITIES (CONTINUED)
SCAR’s Standing Committee on the Antarctic Treaty System has worked closely with the SGs and the SCAR Executive Committee (the Charity Trustees) to bring key scientific issues to the attention of the Antarctic Treaty Consultative Meeting and other bodies such as the Intergovernmental Panel on Climate Change (IPCC). These issues have a direct impact on environmental protection of the Antarctic region.
In order to improve the way in which data and information are managed and made available, SCAR has developed a Data Information Management Strategy in order to facilitate free and unrestricted access to scientific data and information regarding the Antarctic region (see https://www.scar.org/scar-library/reports-andbulletins/scar-reports/2712-scar-report-34/). In recent years efforts have focussed on understanding how researchers search for data and on investigating the possibilities of a federated search tool.
SCAR has a Capacity Building, Education and Training Implementation plan (https://www.scar.org/scarlibrary/reports-and-bulletins/scar-reports/2705-scar-report-27/) outlining the strategy for increasing capacity in young and early career scientists (e.g. the SCAR Fellowship Programme), countries with less well developed Antarctic Programmes as well as promoting the incorporation of Antarctic science in education at all levels.
SCAR has, in addition, developed a strategy to meet the requirement to communicate scientific information about the Antarctic region to the public (https://www.scar.org/scar-library/reports-and-bulletins/scar-reports/2703scar-report-25/). This plan is in the process of being updated internally by the Secretariat.
The SRPs are reviewed internally every 2 years, and externally at 4 years. The progress of all groups and the Secretariat against stated action plans is monitored annually.
ACHIEVEMENTS AND PERFORMANCE
a. REVIEW OF ACTIVITIES
Following the cancellation of SCAR’s biennial Open Science Conference in Hobart in August 2020 due to the COVID-19 pandemic, in August 2020 SCAR hosted SCAR 2020 Online, which featured many of the highlights of the Hobart meeting and attracted 2712 participants from 60 countries. Further details are available from https://www.scar2020.org/.
In order to further understand the complex and far-reaching consequences of the COVID-19 pandemic for the Antarctic community, SCAR’s Standing Committee on the Humanities and Social Sciences (SC-HASS) initiated, in 2020, a research programme to assess the pandemic’s impacts on Antarctic research and researchers, as well as the long-term implications of COVID-19 for Antarctic operations, tourism and governance, with the overarching aim to help inform decisions on how to mitigate adverse impacts. Further information can be found at https://www.scar.org/science/hass/covid-project/info/.
In January 2020, SCAR took over the hosting of the Antarctic Environments Portal from the University of Canterbury, New Zealand. The Portal (www.environments.aq) provides ready access to high-level summary information on Antarctic issues, based on the best available scientific knowledge.
‘Information Summaries’ published in the Portal are primarily aimed at a range of Antarctic stakeholders with policy and management interests in the region, in particular the Committee for Environmental Protection (CEP).
Despite the postponement of the 2020 Antarctic Treaty Consultative Meeting, the Standing Committee on the Antarctic Treaty System continued to develop and finalise submissions and contribute to intersessional discussions, including the development of new policy-relevant advice through active engagement with international scientists and policy makers, maintaining an active and influential role in the Antarctic Environments Portal and direct involvement in a diverse range of research projects.
SCAR, through its Antarctic Biodiversity Portal, is coordinating a community effort to contribute to the UN Decade
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
of Ocean Science for Sustainable Development (2021-2030) through the development of a Southern Ocean Action Plan. This is a partnership with the Southern Ocean Observing System (SOOS) and many other groups and organisations collectively termed the Southern Ocean Task Force. The first workshop of the Task Force took place in early 2020, with another planned online for September 2021, and a website has recently been launched (https://www.sodecade.org) to share information about the process.
Activities of Relevance to Objective 1 (promotion of scientific knowledge) plus (c) and (d) (capacity building and communications) of the Charity:
SCAR has a Capacity Building, Education and Training (CBET) Committee, a key activity of which is the Fellowship programme. SCAR is a co-sponsor with the International Arctic Science Committee (IASC) of the Association of Polar Early Career Scientists (APECS), which developed under the International Polar Year (IPY). The SCAR Fellowships continue to attract a large number of applications, although somewhat lower due to the COVID-19 pandemic, with 21 proposals received for the 2020 round. A total of 4 SCAR Fellowships were awarded from the available funds, intended to allow early career researchers to carry out periods of research in a country different to their own and provide opportunities for networking and skill development. The 2020 SCAR cohort were from Colombia, UK, Ukraine and South Korea. See https://www.scar.org/general-scar-news/scarfellows-2020/ for further details.
In 2013, SCAR introduced a new Visiting Professor scheme. This was jointly funded by India and SCAR for the inaugural year. The main aim of the scheme was to promote partnerships that advance Antarctic research in a country with a developing Antarctic programme.
In 2018 several changes were introduced with the aim of addressing a lack of diversity in the applications and to widen the scope of the capacity building proposed by the applicants. As a result, the scheme was re-launched as the SCAR Visiting Scholarships and attracted 27 applications (compared to 9 in 2017) with 9 of these applicants being female (none in 2017). For 2020, 8 applications were received with 2 of these being female, there being a clear effect on applications due to the COVID-19 pandemic. For the 2020 scheme, 2 awards were made (in early 2021) to applicants from Italy and India (see https://www.scar.org/general-scar-news/2020-visiting-scholars/ ). Further details of this scheme are given at https://www.scar.org/awards/visiting-scholars/overview/
SCAR is participating in a project to update and publish online a book on Polar Education Resources that was published in 2010, as a legacy of the International Polar Year 2007-2008. SCAR is partnering with Polar Educators International, the International Arctic Science Committee (IASC) and the Association of Polar Early Career Scientists (APECS) to advance the project.
Activities of Relevance to Objective 2 (scientific research) plus (a) and (b) (policy advice and data access) of the Charity:
SCAR’s mission is to be the leading non-governmental, international facilitator and advocate of research in and from the Antarctic region, to provide objective and authoritative scientific advice to the Antarctic Treaty and other bodies, and to bring emerging issues to the attention of policy makers.
SCAR’s Data Information and Management Strategy is available at https://www.scar.org/library/scar-reports-andbulletins/scar-reports/2712-scar-report-34/ in order to ensure free and unrestricted access to scientific data and information regarding the Antarctic region.
Detailed SCAR news for the year can be accessed through back issues of the SCAR Newsletter at https://www.scar.org/news/newsletters/ as well as the SCAR News webpage, Facebook, LinkedIn and Twitter sites.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
b. INVESTMENT POLICY AND PERFORMANCE
Through its investment policy SCAR aims to provide capital growth to enable it to fulfil its mission and objectives. In the longer term it is intended to draw income from these investments to support SCAR activities.
SCAR worked with a professional Investment Advisor when initiating the investments portfolio and directly with the Investment Manager(s) to generate a risk profile which matches the expectations of the Executive Committee with regard to investments.
SCAR does not depend on returns from this investing activity to fund its annual expenditure so it is anticipated dividends and profits will be re-invested in the portfolio for at least the first 5 years.
The Executive Committee is prepared to tolerate volatility in the capital value of the investment portfolio but will review and assess the performance annually as outlined below.
Benchmarks
The Investment Advisor and Investment Manager(s) will meet at least annually with the Executive Director to review the status of the portfolio. The Investment Manager(s) performance will be assessed by the Executive Director and Executive Committee annually with reference to benchmarks and targets. These have been initially set at 2% target growth for the portfolio per annum.
c. FACTORS RELEVANT TO ACHEIVE OBJECTIVES
The major factors relevant to SCAR achieving its objectives are (i) successful planning as envisioned by the SCAR Strategic Plan and (ii) ensuring adequate resources, both financial and human, to carry out the objectives of the Charity.
The new Strategic Plan was adopted at the SCAR Delegates Meeting in August 2016 and published in early
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SCAR's work in the next five years will focus on key objectives:
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To amplify its leadership in Antarctic research by further strengthening and expanding high-quality collaborative and visionary Antarctic research, including observations from Antarctica;
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To offer independent scientific advice to Antarctic Treaty Consultative Meetings and other bodies dealing with Antarctic and Southern Ocean matters;
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To enhance and grow research capacity in SCAR member countries;
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To enhance public awareness and understanding of Antarctic issues through communication of Antarctic research results in a timely and accessible manner; and
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To facilitate unrestricted and free access to Antarctic research data.
These objectives will be delivered in the light of the recommendations of the external International Science Council (ISC) Review and the outcomes of the internal SCAR Structure Review.
The issue of funds is expanded below. With regards to human resources, in 2020 SCAR had the benefit of two full time staff, an Executive Director, Dr Chandrika Nath, who took up her position in June 2018, and an Executive Officer, Dr Eoghan Griffin. There were also two part time staff members, Administrative Officer, Rosemary Nash and Communications and Information Officer, Johanna Grabow.
The Charity is fortunate to have the support of the Scott Polar Research Institute, which kindly provides office accommodation and other facilities/amenities for use by the Charity. In return, the Charity provides copies of routine publications for the Institute’s library and provides advice and assistance to Institute staff whenever possible. Due to the nature of this two-way arrangement, it is not possible for the charity to value the in-kind donation within the financial statements.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
FINANCIAL REVIEW
a. REVIEW
During 2020 SCAR received grant income of £19,805 (2019: £140,910), income from national contributions of £517,148 (2019: £503,886) and other income of £9,924 (2019: £5,681). Expenditure in the year was £379,467 (2019: £554,032). The above results in net income for the year of £177,342 (2019: net income of £128,094). At the balance sheet date the Charity held restricted funds of £78,999 (2019: £74,893) as detailed in note 13 to the accounts. The Charity also held unrestricted funds, totalling £655,035 (2019: £481,799).
b. RESERVES POLICY
SCAR’s reserve is split into two funds: (i) A “SCAR Reserve” is a fund to cover routine meetings and admin expenses for a full year which is calculated to be the total costs of routine meeting plus admin costs for the previous year plus 10% and (ii) A “Contingency Fund” which comprises the additional funds left to SCAR after committed funds and the Reserve have been taken into account.
The Trustees aim to retain free reserves that are at least equal to the cost of routine meetings and administration/support costs, uplifted by 10%.
For 2020 the SCAR Reserve figure based on its budgeted meetings and admin costs is calculated to be £255,826 (USD$326,690) and free reserves per the accounts are £653,831 (2019: £479,214).
As shown on the budget for 2021 significant funds have been carried forward from 2020 into 2021 and these have been assigned to both our Groups as well as a contingency fund to be used as directed by the Trustees. Significant extra funds from contingency have been directed to extra support of our Capacity Building schemes (Fellowships, Visiting Scholars and Interns - circa USD$65k), support for the Secretariat reflecting the extended medical leave for the Executive Director (circa USD$40k) as well as extending the Communications and Information Officer hours to full-time and support for new Groups (circa USD$17k). The funds allocated to the Groups will be rolled into 2022 if not expended, which is likely given the slow return to normal business in terms of science meetings. Any contingency funds left at the year end will again be available for distribution to priority short term support for the community.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
c. PRINCIPAL FUNDING
SCAR’s principal source of funding is from its member countries, who all pay a self assessed fee on a scale that in 2020 ranged from $7,000 to $27,500 per year.
At the Delegates meeting, 2012, Members accepted an increase in SCAR Membership Fees which came into force in 2013 and were applicable until 2017. SCAR Delegates agreed in 2016 to a new structure for National Contributions from members to come into force in 2018. The details for 2020 are as below:
| Category | Contribution | No. Members |
Total | In 2020: |
|---|---|---|---|---|
| Special Contributors |
$27,500 | 2 | $55,000 | Russia, USA |
| Well Developed Programmes |
$21,200 | 16 | $339,200 | Argentina, Australia, Brazil, China, France, Germany, India, Italy, Japan, Republic of Korea, The Netherlands, New Zealand, Norway, South Africa Spain, UK |
| Initial Stages Programme |
$12,400 | 14 | $173,600 | Belgium, Bulgaria, Canada, Chile, Ecuador, Finland, Malaysia, Peru, Poland, Portugal, Sweden, Switzerland, Uruguay, Ukraine |
| Associate Member |
$7,000 | 12 | $84,000 | Austria, Belarus, Colombia, Czech Republic, Denmark, Iran, Monaco, Pakistan, Romania, Thailand, Turkey, Venezuela |
| Total: | 44 | $651,800 |
The charity does not engage in public fundraising. During 2020 the Charity did not engage any external professional fundraisers. Donations in the year totalled £nil (2019: £920).
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
d. PLANS FOR FUTURE PERIODS AND THE IMPACT OF COVID-19
SCAR continues to be significantly impacted in its operations by Covid19 pandemic. While an online Delegates meeting was held in March 2021 to ensure the most important decisions facing the organisation could be determined, such as approval of budgets and election of Trustees, no in-person meetings have taken place to date in 2021, either at an administrative or scientific level. The Secretariat continue to work remotely and consultations will take place before returning to the offices at the Scott Polar Research Institute to ensure lessons can be learned from the enforced absence. Plans for the next Open Science Conference and Delegates Meeting, intended for Hyderabad in India in August 2022, are currently awaiting a decision on the possibility of being held in person.
In 2020 the Executive Committee controlled and monitored expenditure to ensure cashflow and reserves were maintained, reflecting the level of National Contribution income received. These procedures have been maintained for 2021, and to date, there has been no issues with cashflow or increasing levels of national contribution arrears.
Future Developments
Following the successful implementation of SCAR 2020 Online as a replacement for many of the elements of the cancelled 2020 Open Science Conference, SCAR is investigating the provision of virtual participation at future meetings, and indeed the broader provision of support for its Groups to conduct their business in a virtual manner. This may be through central provision of virtual platforms for support or through the ability of groups to identify their own needs and use their budgets appropriately. Virtual participation addresses some of the inequalities of opportunity presented by for instance the cost of travel to in person meetings and helps SCAR achieve its ambition of reducing its carbon footprint, with a target of net zero by 2030.
The planned Biology Symposium due to take place in New Zealand in 2021 has now been postponed until 2023. Other meetings delayed from 2020 and 2021, including those by the new Scientific Research Programmes, are now planned to take place in conjunction with the Open Science Conference in 2022, on the basis that it can go ahead as an in person meeting.
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. CONSTITUTION
The company is constituted under a Memorandum of Association dated 14/4/2008 and is a registered charity number 112840.
Charity was incorporated in England as a company limited by guarantee on 14 April 2008 and registered as a charity on 4 July 2008.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Trustees who served during the year were as follows:
Prof S Chown, President Prof J Simoes Prof Gary Wilson Dr Catherine Ritz Dr M. Ravichandran
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
When new trustees are appointed there are procedures in place to ensure that they clearly understand their duties and responsibilities.
d. PAY POLICY FOR SENIOR STAFF
At the 2016 SCAR Delegates Meeting the Executive Committee was tasked with reviewing the Secretariat Salaries. As a result proposals were developed and formally agreed by the Executive Committee at their meeting in Brno, Czech Republic in 2017.
The Executive Committee concluded that the remuneration of SCAR Secretariat staff was outdated, having not reflected the high living costs in the Cambridge area, and were below the level paid by similar scientific organizations based in the same city. Staff annual salary scales were restructured to the following ranges: Executive Director £57,764 - £73,015; Executive Officer £34,956 - £46,924; Administrative Assistant (part-time 60%) £27,629 - £32,958.
Staff salaries will be appraised annually within these pay scale ranges.
e. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Charity has an Executive Committee (EXCOM) comprising a President, four Vice Presidents (VP, with responsibilities for (i) Finance, (ii) Education and Outreach, (iii) Science and (iv) Administrative and Constitutional Affairs) and a Past President all chosen (elected) from Delegates or Alternate Delegates of Full Members. These members are also the Trustees of the Charity.
The Charity is run on a day to day basis by an Executive Director, an Executive Officer, a part time Administrative Officer and a part time Communications and Information Officer. The Executive Officer is responsible for the day to day financial management of the Charity with oversight by the Executive Director. The Executive Director, who is a non-voting member of the Executive Committee, consults on financial matters with the Vice-President for Finance.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
f. RISK MANAGEMENT
The Trustees assess the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. These are regularly reviewed, at least annually, and updated as necessary. In 2018 the organization established a risk register.
From the financial perspective, the Charity has secure income from the national contributions of its 44 Member countries in 2020. The number of distinct contributors and the timely payment of contributions by the Members provides security for future income. SCAR also continues to attract new Members, with 4 new members having been approved in 2016. These new members contributed to SCAR membership fees in 2017. A further member was approved in 2018 bringing the total to 44 members. The record of increases in contribution levels provides confidence that the burden of increasing costs through inflation and salary increases (and the burden of payment arrears due to a the issues faced by small minority of members in making timely payments, due to their political circumstances) will not in the long run detract from the ability to spend the majority of income effectively on Science activities. While there may be difficulties in payment encountered by individual members from time to time, the level of national contribution arrears is closely monitored and has fallen in recent years.
The impact of the loss of administration and salary contributions from the Tinker-Muse Prize after its completion in 2018 has been offset by the increase in both members and the associated contributions.
There are no conventional “competitor” organisations to SCAR in terms of its main objectives and its operations and effectiveness are reviewed periodically both internally and externally. In 2015 an internal Structure Review was undertaken, with consultation sought from the Antarctic research and policy communities. The results were presented at the 2016 Delegates meeting and several were approved. The external review by the ISC resulted in a positive assessment of SCAR activities with recommendations received to to help enhance this work.
The biggest operational risk is the dependence the Charity has on the voluntary work carried out on its behalf by the Antarctic research and policy communities. In terms of leadership and guidance for its Science groups and the evaluation of applications for its various award, these volunteers continue to ensure that SCAR is perceived to be meeting its objectives for the community. The Charity will continue to review the way in which it supports these volunteers to ensure maximum effectiveness.
As noted in the section on Plans for Future Periods, the SCAR Executive Committee continues to closely monitoring the receipt of National Contributions in 2021 to ensure that expenditure is tailored to match the level of income received. In this way the risk of delayed or missed contributions will be mitigated.
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Prof J Simoes, Trustee
Date: 30 August 2021 | 11:02 BST
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH
OPINION
We have audited the financial statements of Scientific Committee on Antarctic Research (the 'charitable company') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (CONTINUED)
OTHER INFORMATION
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
-
the Trustees' Report has been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of Trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (CONTINUED)
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (CONTINUED)
AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
-
we identified the laws and regulations applicable to the charitable company through discussions with directors and other management, and from our knowledge and experience of the scientific sector;
-
we obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;
-
we obtained an understanding of the entity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance; and
-
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.
To address the risk of fraud through management bias and override of controls, we;
-
tested journal entries to identify unusual transactions;
-
we designed procedures to identify unexpected and unusual journal entries and performed testing to confirm the validity of such postings; and
-
performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-
agreeing financial statement disclosures to underlying supporting documentation;
-
enquiring of management as to actual and potential litigation and claims; and
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (CONTINUED)
- we reviewed minutes of meetings of those charged with governance.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
USE OF OUR REPORT
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Kelly Bretherick (Senior Statutory Auditor)
for and on behalf of Peters Elworthy & Moore Chartered Accountants Statutory Auditors Salisbury House Station Road Cambridge CB1 2LA
Date: 03 September 2021 | 11:06 BST
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH
(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 2 Charitable activities 3 Investments 4 TOTAL INCOME EXPENDITURE ON: Raising funds 5 Charitable activities 6 TOTAL EXPENDITURE NET INCOME BEFORE NET GAINS ON INVESTMENTS Net gains/(losses) on investments 10 NET INCOME/(DEFICIT) Transfers between funds 13 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds 2020 £ - 522,584 4,488 527,072 4,406 363,207 367,613 159,459 9,932 169,391 3,845 173,236 481,799 173,236 655,035 |
Restricted funds 2020 £ - 19,805 - 19,805 - 11,854 11,854 7,951 - 7,951 (3,845) 4,106 74,893 4,106 78,999 |
Total funds 2020 £ - 542,389 4,488 546,877 4,406 375,061 379,467 167,410 9,932 177,342 - 177,342 556,692 177,342 734,034 |
Total funds 2019 £ 920 646,293 3,264 |
|---|---|---|---|---|
| 650,477 | ||||
| 4,364 549,668 |
||||
| 554,032 | ||||
| 96,445 31,649 |
||||
| 128,094 - |
||||
| 128,094 | ||||
| 428,598 128,094 |
||||
| 556,692 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 21 to 38 form part of these financial statements.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee) REGISTERED NUMBER: 06564642
BALANCE SHEET AS AT 31 DECEMBER 2020
| Note FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL NET ASSETS CHARITY FUNDS Restricted funds 13 Unrestricted funds 13 TOTAL FUNDS |
103,302 414,169 517,471 (38,129) |
2020 £ 1,204 253,488 254,692 479,342 734,034 734,034 78,999 655,035 734,034 |
72,922 333,860 406,782 (96,175) |
2019 £ 2,585 243,500 |
|---|---|---|---|---|
| 246,085 310,607 |
||||
| 556,692 | ||||
| 556,692 | ||||
| 74,893 481,799 |
||||
| 556,692 |
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:
................................................
Prof J Simoes Vice President for Finance
Date: 30 August 2021 | 11:02 BST
The notes on pages 21 to 38 form part of these financial statements.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020
| CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided by/(used in) operating activities CASH FLOWS FROM INVESTING ACTIVITIES Dividends, interests and rents from investments Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments NET CASH (USED IN)/PROVIDED BY 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 £ 80,616 4,488 - 41,957 (46,752) (307) 80,309 333,860 414,169 |
2019 £ 3,199 3,264 (1,480) 33,872 (28,562) 7,094 10,293 323,567 333,860 |
|---|---|---|
The notes on pages 21 to 38 form part of these financial statements
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
1.1 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) (second edition of the Charities SORP October 2019, effective effective 1 January 2019).
Scientific Committee on Antarctic Research 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.
There were no significant estimates or judgements made by management in preparing these financial statements.
1.2 GOING CONCERN
The Trustees have reviewed the financial position of the Charity, including the impact of COVID-19 and have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis.
1.3 COMPANY STATUS
The Charity is a company limited by guarantee. The members of the Charity are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.
1.4 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES (CONTINUED)
1.5 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.
Donated facilities are recognised when the charity 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 charity of the item is probable and that economic benefit can be measured reliably. The Charity sometimes secures office space for meetings free of charge, however in the majority of instances there is a significant degree of reciprocity to the arrangement and therefore it is not possible to estimate the value. The net effect, taking the reciprocal arrangement into account, is not deemed to be significant and is not valued in these accounts.
Income on funds held for 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 Bank.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Income from national contributions is recognised in the period to which it relates. National contributions owing to the Charity at the year end are included in debtors. National contributions are only written off after consultation with all member delegates. The member countries self assess which level of contribution is most appropriate with regard to the level of Antarctic research undertaken in that country.
Grants are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a grant is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfillment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
1.6 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.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Costs of raising funds represent investment management fees.
The wages and salaries of the Executive Director and Executive Officer have been allocated on the basis of the proportion of time spent on direct and support activities.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES (CONTINUED)
1.6 EXPENDITURE (CONTINUED)
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Fixtures and fittings | - | 20% straight line |
|---|---|---|
| Computer equipment | - | 33% straight line |
1.8 INVESTMENTS
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
1.9 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.
1.10 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.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES (CONTINUED)
1.11 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 in the Statement of Financial Activities as a finance cost.
1.12 FINANCIAL INSTRUMENTS
The charity 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.
1.13 FOREIGN CURRENCIES
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
1.14 PENSIONS
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
2. INCOME FROM DONATIONS
| Donations TOTAL 2019 |
Restricted funds 2020 £ - 920 |
Total funds 2020 £ - 920 |
Total funds 2019 £ 920 |
|---|---|---|---|
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
3. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted funds 2020 £ National Contribution Fees 517,148 Antarctic Environments Portal income - CBET income - IAATO grant income - PRAMSO income - Workshop registration fees - Reimbursed expenditure, meeting/workshop fees and bursary income 5,436 TOTAL 2020 522,584 TOTAL 2019 505,383 4. INVESTMENT INCOME |
Restricted funds 2020 £ - 19,805 - - - - - 19,805 140,910 |
Total funds 2020 £ 517,148 19,805 - - - - 5,436 542,389 646,293 |
Total funds 2019 £ 503,886 20,279 29,481 39,261 51,889 1,497 - |
|---|---|---|---|
| 646,293 | |||
| Unrestricted funds 2020 £ Dividend income 4,463 Bank interest receivable 25 4,488 TOTAL 2019 3,264 |
Total funds 2020 £ 4,463 25 4,488 3,264 |
Total funds 2019 £ 3,208 56 |
|---|---|---|
| 3,264 | ||
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
5. INVESTMENT MANAGEMENT COSTS
| Unrestricted funds 2020 £ Investment management fees 4,406 TOTAL 2019 4,364 |
Total funds 2020 £ 4,406 4,364 |
Total funds 2019 £ 4,364 |
|---|---|---|
6. ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Charitable Activities TOTAL 2019 |
Activities undertaken directly 2020 £ 222,505 403,564 |
Support costs 2020 £ 152,556 146,104 |
Total funds 2020 £ 375,061 549,668 |
Total funds 2019 £ 549,668 |
|---|---|---|---|---|
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (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 Capacity Building, Education and Training Scientific Activities SCAR Fellowships Routine Meetings Scar 60th anniversary Medal awards SCAR MarBIN - cosmos prize IAATO project Bad debt provision TOTAL 2019 |
Activities 2020 £ 92,600 6,277 84,356 7,620 1,720 - 111 5,778 - 24,043 222,505 403,564 |
Total funds 2020 £ 92,600 6,277 84,356 7,620 1,720 - 111 5,778 - 24,043 222,505 403,564 |
Total funds 2019 £ 91,801 874 189,353 61,412 10,604 1,796 - 5,255 37,709 4,760 |
|---|---|---|---|
| 403,564 | |||
Of the above expenditure, £11,854 (2019: £102,660) was met directly from restricted funds and £nil (2019: £4,386) was met directly from designated funds.
The figure for Scientific Activities of £83,856 (2019: £189,353) includes expenses such as workshop and event expenses, travel expenses and co-sponsorships which are incurred in the unrestricted activity of the charity.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (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 Foreign exchange loss / (gain) SCAR archiving project Office costs Secretariat travel Bank fees and interest Delegate meeting costs (governance) Bookkeeping fees (governance) Accounts preparation (governance) Audit fees (governance) Professional, legal and other fees (governance) TOTAL 2019 |
Activities 2020 £ 78,339 1,381 28,793 - 15,746 5 2,298 - 8,640 4,782 8,724 3,848 152,556 146,104 |
Total funds 2020 £ 78,339 1,381 28,793 - 15,746 5 2,298 - 8,640 4,782 8,724 3,848 152,556 146,104 |
Total funds 2019 £ 73,492 2,349 8,870 451 16,308 3,139 5,323 12,110 8,641 5,384 6,840 3,197 |
|---|---|---|---|
| 146,104 | |||
In 2020 and 2019 all support and governance costs were met from unrestricted funds.
Governance costs amounted to £25,994 (2019: £36,172).
7. AUDITORS' REMUNERATION
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fees payable to the company's auditor for the audit of the company's | ||
| annual accounts | 8,724 | 6,840 |
| Fees payable to the company's auditor in respect of: | ||
| All non-audit services not included above | 4,782 | 5,384 |
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
8. STAFF COSTS, KEY MANAGEMENT PERSONNEL AND TRUSTEES' EXPENSES
| Wages and salaries Social security costs Other pension costs |
2020 £ 153,833 12,209 4,897 170,939 |
2019 £ 148,507 12,756 4,030 |
|---|---|---|
| 165,293 |
The average number of persons employed by the company during the year was as follows:
| 2020 | 2019 |
|---|---|
| No. | No. |
| 4 | 4 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2020 | 2019 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | 1 | 1 |
The key management personnel of the charity comprises of the Trustees and the Executive Director. The Trustees all give their time and expertise without any kind of remuneration or other benefit in kind (2018: £nil). The total employment benefits of key management personnel were £77,097 (2019: £76,713). Employment benefits include employers national insurance and employers pension contributions.
During the year, no (2019: 3) Trustees received reimbursed travel expenses or had payments made directly to a third party on their behalf, totalling £nil (2019: £2,492).
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| 9. 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 £ 18,757 |
|---|---|
| 18,757 | |
| 16,172 1,381 |
|
| 17,553 | |
| 1,204 | |
| 2,585 |
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
10. FIXED ASSET INVESTMENTS
| COST OR VALUATION At 1 January 2020 Additions Disposals at open market value (proceeds £41,957, loss £2,437) Revaluations Movement in cash AT 31 DECEMBER 2020 NET BOOK VALUE AT 31 DECEMBER 2020 AT 31 DECEMBER 2019 |
Listed investments £ 225,793 46,752 (44,394) 12,369 - 240,520 240,520 225,793 |
Cash held at brokers £ 17,707 - - - (4,739) 12,968 12,968 17,707 |
Total £ 243,500 46,752 (44,394) 12,369 (4,739) 253,488 253,488 243,500 |
|---|---|---|---|
All the fixed asset investments are held in the UK.
All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
The Charity is operating an investment policy that provides for a degree of diversification of holdings within different unit trust investments. Potential returns have been sought from a combination of capital appreciation and income return. These returns have been sought from a combination of the assets used in Balanced Return’ portfolios, but also include a wider range of possible investments that are more volatile, but provide a higher potential return, such as investments in shares or overseas investments. The portfolio is well diversified by asset class and more weighted towards more secure investments such as British Government securities (Gilts) or bonds issued by other secure supranational organisations such as the European Investment Bank. It also comprises of other income producing investments, such as corporate bonds and preference shares but to a lesser extent than normally associated with ‘Income Return’ investors. The balance of the portfolio incorporates direct investments into shares of large and medium sized companies.
The Charity does not make use of derivatives as it takes the view that investments are held for their longer term growth and annual income.
The Charity has no material investment holdings in markets subject to exchange controls or trading restrictions.
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
11. DEBTORS
| DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals Pension payable Other creditors Deferred income Deferred income at 1 January 2020 National contribution fees deferred during the year Amounts released from previous periods |
2020 £ 103,302 - - 103,302 2020 £ 20,328 14,446 3,355 - - 38,129 2020 £ 9,352 - (9,352) - |
2019 £ 55,333 15,050 2,539 |
|---|---|---|
| 72,922 | ||
| 2019 £ 35,373 13,481 260 37,709 9,352 |
||
| 96,175 | ||
| 2019 £ - 9,352 - |
||
| 9,352 |
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
13. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| UNRESTRICT- ED FUNDS General Funds - all funds RESTRICTED FUNDS SCAR MarBIN Antarctic Environments Portal PRAMSO TOTAL OF FUNDS |
Balance at 1 January 2020 £ 481,799 6,487 19,533 48,873 74,893 556,692 |
Income £ 527,072 - 19,805 - 19,805 546,877 |
Expenditure £ (367,613) (5,778) (6,076) - (11,854) (379,467) |
Transfers in/out £ 3,845 (709) (1,692) (1,444) (3,845) - |
Gains/ (Losses) £ 9,932 - - - - 9,932 |
Balance at 31 December 2020 £ 655,035 |
|---|---|---|---|---|---|---|
| - 31,570 47,429 |
||||||
| 78,999 | ||||||
| 734,034 |
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
13. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS - PRIOR YEAR
| UNRESTRICT- ED FUNDS DESIGNATED FUNDS Monaco Prize GENERAL FUNDS General Funds - all funds TOTAL UNRESTRICT- ED FUNDS RESTRICTED FUNDS SCAR MarBIN IAATO Antarctic Environments Portal 60th Anniversary Fellowship Fund (CBET) PRAMSO TOTAL OF FUNDS |
Balance at 1 January 2019 £ 4,653 411,845 416,498 12,100 - - - - - 12,100 428,598 |
Income £ - 508,647 508,647 - 39,261 20,279 920 29,481 51,889 141,830 650,477 |
Expenditure £ (4,386) (446,986) (451,372) (5,255) (37,709) - (1,796) (57,900) - (102,660) (554,032) |
Transfers in/out £ (267) (23,356) (23,623) (358) (1,552) (746) 876 28,419 (3,016) 23,623 - |
Gains/ (Losses) £ - 31,649 31,649 - - - - - - - 31,649 |
Balance at 31 December 2019 £ - |
|---|---|---|---|---|---|---|
| 481,799 | ||||||
| 481,799 | ||||||
| 6,487 - 19,533 - - 48,873 |
||||||
| 74,893 | ||||||
| 556,692 |
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
13. STATEMENT OF FUNDS (CONTINUED)
All of the transfers represent administration recharges and foreign exchange differences.
Designated Funds
Monaco Prize - In 2013 SCAR received a €40,000 unrestricted prize grant, which was designated to sponsoring fellowships in 2015, specifically the “Prince Albert II of Monaco Fellowship for Biodiversity” During 2019 this was awarded to Mariia Pavlovska. This fund is now closed.
Restricted Funds
SCAR MarBIN - The SCAR Marine Biodiversity Information Network under the aegis of SCAR and supported by the Total Foundation.
IAATO - The International Association of Antarctica Tour Operators (IAATO) are funding SCAR to provide a systematic conservation plan for the Antarctica Peninsula and to establish a Co-ordination group and a Project Liaison Group.
The Antarctic Environments Portal - The Portal (www.environments.aq) continues to provide the Antarctic Treaty Parties with easy access to reliable and up-to-date information on a range of issues relevant to the management of Antarctic environments. During the year funds were received from The Ministry of Foreign Affairs - Netherlands Government and the Australian Antarctic Division.
60th Anniversary - Income was received specifically for use on the 60th anniversary activities. This fund is now closed.
Fellowship fund (CBET) - Some member countries have provided Additional Voluntary contributions to support Fellowships and Visiting Professors within SCAR's Capacity Building, Education and Training activities (CBET).
PRAMSO (Paleoclimate records from the Antarctic Margin and Southern Ocean) - Support provided alongside SRP - PAIS (Scientific Research Programme - Past Antarctic Ice Sheet dynamics) and the Programme Planning Group for INSTANT (INStabilities and Thresholds in ANTarctica).
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD
| Unrestricted funds 2020 £ Tangible fixed assets 1,204 Fixed asset investments 253,488 Current assets 438,472 Creditors due within one year (38,129) TOTAL 655,035 |
Restricted funds 2020 £ - - 78,999 - 78,999 |
Total funds 2020 £ 1,204 253,488 517,471 (38,129) 734,034 |
|---|---|---|
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SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year TOTAL |
Unrestricted funds 2019 £ 2,585 243,500 294,180 (58,466) 481,799 |
Restricted funds 2019 £ - - 112,602 (37,709) 74,893 |
Total funds 2019 £ 2,585 243,500 406,782 (96,175) 556,692 |
|---|---|---|---|
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 15. ACTIVITIES
| Net income for the period (as per Statement of Financial Activities) ADJUSTMENTS FOR: Depreciation charges Gains on investments Dividends, interests and rents from investments (Increase)/decrease in debtors Decrease in creditors Movement in cash at broker NET CASH PROVIDED BY OPERATING ACTIVITIES 16. ANALYSIS OF CASH AND CASH EQUIVALENTS Cash in hand TOTAL CASH AND CASH EQUIVALENTS 17. ANALYSIS OF CHANGES IN NET DEBT |
2020 £ 177,342 1,381 (9,932) (4,488) (30,380) (58,046) 4,739 80,616 2020 £ 414,169 414,169 |
2019 £ 128,094 2,349 (31,649) (3,264) 38,168 (126,345) (4,154) 3,199 2019 £ 333,860 333,860 |
|---|---|---|
| Cash at bank and in hand Debt due within 1 year |
At 1 January 2020 £ 333,860 (260) 333,600 |
Cash flows £ 51,516 (3,095) 48,421 |
Changes in market value and exchange rate movements £ 28,793 - 28,793 |
At 31 December 2020 £ 414,169 (3,355) 410,814 |
|---|---|---|---|---|
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DocuSign Envelope ID: F3CF9F1E-5537-450A-BEEE-9B14AD6062AD
SCIENTIFIC COMMITTEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
18. PENSION COMMITMENTS
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £4,897 (2019 - £4,030). Contributions totalling £3,355 (2019 - £260) were payable to the fund at the balance sheet date and are included in creditors.
19. RELATED PARTY TRANSACTIONS
There were no related party transactions during the current or previous years.
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