Reglstered number: 06564642 Charity number.. 1124840 SCIENTIFIC COMMIThEE ON ANTARCTIC RESEARCH (A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 SCIENTIFIC COMMrrrEE ON ANfARCTIC RESEARCH {A Company Llmlted by Guarnntee) CONTEPffS Page Reference and Palministralive Dolalls of the Company? its Truste8S gnd Advlsers Tru$teos' Repert 2-13 Independent Audltors, Report on the Financlal Ststements 14-18 Statement of Financial Actlvltles 19 Balance Shegt 20 Stslemenl of Cash Flows 21 Notès to tho Financial Slatamants 22-38 SCIEKfiFIC COMMITfEE ON ANTARCTIC RESEARCH (A Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEM8ER 2021 Trustees Dr Y Kim, Preskyent Prof S Chow Dr M Ravichandran Prol J Simoes Prol G Wilson Prol D Karentz Company reglstered number 06564642 Charity registered numbar 1124840 Registered offlco Scott Polar Research Institijte Lenslield Ro Cambridge CB2 1ER Exgcutlve oflicer Dr E(xJhan Griffin Executlve director Dr Chandrika Nath Independent audltors Peters Efv￿rthY & MooTe Chartered AccounlantS Salisbury House Slalion Road Cambricfrje CB12LA Bankers HSBC Cambri(kJe Cambridgeshire CB2 38Z Investm8nl Managers Rathbone Investrnent Management Limited 8 Finsi￿ry Circus London EC2M 7AZ Page 1 SCIENTIFIC COMMirrEE ON ANfARCTIC RESEARCH {A Company Llmited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustges presenl their annual report together wtlh the audited lina￿SaI stalements of the company lor the 1 January 2021 10 31 December 2021. The Annual Report serves the PLrrFM)ses ol both a Trustees. report and a directors, report under company law. The Tiuslees conlimi thal the Annual Report and linancia slalements ol the charitable company comply with the cu¥rent stalulory requirements, the requirements ol the charitable company's governing document and the provisions ol the Statement ol Recommended Practice ISORPI applicable lo charities preparing theii accounts in accordarKe with Ihe Financial Reporting Standard applicable in the UK and Flepublic ol IrelarKI IFRS1021 IsecoThl edition ol the charib.es SORP IFRS1021 October 20191. Since the company qualilFes as small under section 382 01 the Companies Act 2006, Ihe Strategic Report required ol medium and large companies under the Companies Act 2006 Islrategic Report and Directors, Report) Regulations 2013 has been omitteil. OBJECTIVES AND ACTIVITIES a. POLICIES AND OBJECTIVES The Trustees have Considered the charitys t*nefft to the public. The trustees confirm that they have paid due regard lo the Charity Commission guidance on public benelrl when reviewing the charity's aims and objectives as detailed below arbd in planning ILrture aclivities. The charity has two main obj'eclives., 11 To advance and promote S￿entiFiC knovledge, urKlerstanding and education on any aswl ol the Antarctic region, on the role of the Antaictic ragion in the Earth system. and on the effect ol global change on the Antarctic region., and 21 To initiate, facilitate, Co-ordinate arKI encourage intemational scienttfic research activity in the Antarctic region, on the role ol the Anlarclic region in the Earth system, and on the effect ol global change on Ihe Antarctic region. In addition the Charity may further the Otl'ects in pa￿CUlar txrt not exclusively by.. lal providing objective and indepentlenl scientifK athice to the Parties to the Antarctic Treaty and other organisations on issues ol s¢ien¢e ar￿ conservatson allecting the management of the Aniarctic region and the Southern Ocean: Ibl facilitating free and unrestricled access lo ￿le￿IlliC data aTrJ infomiation warding the Antarctic region- Icl developing scientific capacty in the Members of Ihe Charity young scientists, and to promDI8 the incorporation of Antarctic scietKe in education al all levels, and Idl communicating scientilic inlormation aboul the Antarctic wioll lo the publi¢. Page 2 SCIENnFIC COMMITTEE ON ANTARCTIC RESEARCH IA Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2021 OBJECTIVES AND ACTIVITIES (coKfiNUED) b. STRATEGIES AND ACTIVITIES FOR ACHIEVING OBJECnVES A Strategic Plan lor 2017-2022, titled -connecting and Building Antarctic Research" was develO￿d through 2015 and 2016 and was published in earty 2017 Ihttps-Jlww.scar.orglhorizonlslrategic-plansl). Under this Strategic Plan, SCAR'S vision is to create a legacy ol Anlarclic research a5 a foundation lor a better lulure. In line wlh this vision, through Scientif￿ research and intemational co0￿ration SCAR wll work towards a more thorough understanding ol the nature ol Antarctica, the role ol Antarctica in the global system, and the ¢haracter and effects ol environrnenlal change and human activities on Antarctiea. SCAR has in recent years focused ils 5cien1i1￿ efforts on ils Scientific Research Programmes ISRPSI addressing major topical issues ol the day, each ol which has a lifetime of 8 years. Three new SRPS were awroved in 2020 and began activities in early 2021= Integrated Science to Infonn Antarctic and Southern Ocean Conservallon IAnl-ICON) will answor fundamental science questions las identified by the SCAR Horizon Scan) relating lo the consetvation and management of Antar¢tica and the Soulhern Ocean and fr￿uS on research lo drive and inform international de¢ision-making and policy Change. INSt8bililios and Thresholds in ANTarctlca (INSTAIffj will address the lirsl-order question about Antarctica's ¢ontribution to sea level_ Encompassing geoscienee, physical sciences and biological sciences, il aims to quantify the Antarctic ice sheet's conlribution to pasl and future global sea-level change. Naar-term Variability and Pr8diction of the Antar¢tlc Cllmate System (Antclimnowl will investigate the prediction ol near-tem) conditions in the Antarciic climate system on timescales ol years to multiple decades. Taking an inlegraled aK4)roach. it will COnSKler the Antarctio environment as a whole. Links lo individual groups and further d8twls are provided at.. htty)sj1￿￿.sCar.O[￿s¢IenceIsrp/. SCAR also supports a variety of other scientific activities in which value is a(kled to national efforts through international cooperation. These aclivilies are coordinated by three Science GrDUPS ISGS, lor resp￿tiVelY Physical Sciences, Geo￿lenceS, and ￿le Sciencesl and managed by Actson Groups 0￿rating lor short periods, and Expert Groups where more time is needed lo achieve objectives. The Science Groups were relerred lo as "Standing Scientific Groups" prior to the 2016 Dèlegates meeting in Kuala Lurnpur. All these groups are allocated funding by SCAR lo carry out their actiwties (see htwJlYw￿.sCar.0[g1ab0Ut-usls¢ar-oYer￿leW4 and the reports are rnade freely available on Ihg groups wetpages le.g. httpsJlwww.5car.orglscierKelresear¢h-overviewll. At the 2018 Delegates Meeting, a new Standing Committee lor the Humanities and Social Sciences was ISC- HASSI was approved, wh￿h iellecled the growth ol the research area and the success ol previous Expert Groups on History and Humantttes and ￿la1 Sciences. SCAR'S Standing Commtttee on the Antarctic Treaty System has worked closely with the SGS and the SCAR Executive Committee Ithe Charity Trustees) to bring key scientific issues to Ihe attention ol the Antarctic Treaty Consultative Meeting and other bodies such as thè Intergovernment￿ Panel on Climate Change IIPCCI. These Issues have a direct impact on environmentd protection of the Anlarclic region. In order lo improve thg way in which data and information are managed and made available, SCAR has developed a Data Information Management Strategy ir¢ order to facilitate free and unrestricted access to scientific data and information regarding the Antarctic region Isee httpsJlwww.scar.orglscar-librarylrepDrts-and- bulletins1scar-report￿2712-scaI-reWrt-34fj. In ￿ent years efforts have locussed on understanding how esearchers search loi data arKI on investvJab"r¥J the wssibilities ol a federated search tool. SCAR has a Capacity Building.. Education ancl Trwning Implementation plan IhttpsJ/www.scar.orgJs¢ar- librarylreports-and-bul1etin￿Scar-reportSl27os-scar-1ep0rt-270 ouuining the strategy lor increasing capacity in Page 3 SCIETrrriFIC COMMIThEE ON AF￿ARCTIc RESEARCH IA Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 OBJECTIVES AND ACTIVITIES (coMfiNUED} young and earfy caieer scientists le.g. the SCAA Fellowshtp Prtyjrammel, countries with less well developed Antar¢li¢ Programmes as well as promoting the incorwrats.on ol Antarctic Scien￿ in education at all level5. In 2020 a scoping group was convened to investigate the i*st way forward lor SCAR to a(&Jress issues ol Equality. Diversity and Inclusion IEDII. The main proposal from the s¢oping group was lor a dedicated SCAR Action Group on EDI to be recommended lo SCAR Delegates, wh￿h would take forward the areas identified by the scoping group. The proposal was included as a recommendation in the CBET report delivered lo Delegates in March 2021 and awroved. More det&"Is are a¥￿lable al htty)sjl￿rn.$Ca[.0r￿Capa¢Ity-bUi1djngIedi1h0rneI. SCAR has, in addition, developed a strategy to meet the requirem8nt lo communicate scientific infomiation atrx)ul the Antarctic region to the public IhtWsJlvn•M.scar.orglscar-librarylreports-and-bulletinslscar-reports12703- scar-report-2511. This plan is in the process of being uKLfated inteinally by the Secretarial. Thg SRPS are reviewed Intern￿lY every 2 years, and exlemally at 4 years. The progress of all groups and the Secretariat against stated action plans is monitoTed annudly_ ACHIEVEMENTS AND PERFORMANCE a.Review of actlvlties The main highlight 012021 was the launch ol the three new scientif￿ Research Programmes= INSlabilities and Thresholds in ANTarclica IINSTANTI, Integrated Science to Inform Antarctic and Southern Ocean COnSe￿allOn IAnl-ICONI and Near-term Variability and Prediction ol the Antarctic Climate Syslem IAntClimNowl. Al ihe Anlarclic Treaty Consultative Meeting IATCM XLIIII hekl online in June, SCAR subrnrtted eight Wort(ing Papers and ten Information Papers. The Paris DeclaratFon: adopted al the close ol the meeknng, reinforced the value ol SCAR in providing scientific advice. On December 1st 2021 P¥ol Steven Chown. SCAR Past President and Executive Committee member. delivered a keynote le¢￿re at the Antarctic Parliamentarians, Assembly entitled "Climate Change and the Antarc￿". SCAR played a key iole in the SoLthem Ocean Task Force which is coordinaling the Southern Ocean Contribution lo the UN Oecade ol Ocean Science lor Sustainable Development, induding a major online workshop held in September 2021. Furhter details can be found at vdvM.sodecade.org. A cooperation agreement was renewed wilh the Asian Forum lor Polar Sciences IAFOPSI and International Arctic Science Committee IIASCI, and signed Mrtudly by the Piesidents ol the organisations at the AFOPS AGM held in Octot*r 2021. SCAR began the process ol developing its new strateg￿ Plan, lo cover the 2023-2028 period and lo be linalized al the 2022 Delegates Meeting. SCAR organised Nvo events at the UNFCCC COP26 meeting in Glasgow, November 2021.. an official Side Event titled "Antarctic and Overshoot Scenarios.. Risk ol Iireversible Sea-Level rise. and, as part ol Polar Oceans Day al the Cryosphere Pavilion, an event litled Antarctic Marine Ecosystems Under Pressures.. Protection Needs Action Locally and Globall￿. SCAR also joined a call lor an UNFCCC Cryosphere Dialogue as part ol future meetings. SCAR also featured in the BBC Sloryworks 'Un1￿kIng Science series with a dynamic article on "What Anlarclica can leach us about climate change", which highlighted the woth ol SCAR SRPS both past and present. Training, support and development ol the Antatctic community continue to ￿ fundamental to SCAR. In 2021, SCAR awarded five eady-career Fellowships. with h¥0 further SCAR Fellowship applicants being funded by COMNAP, the Council ol Managers ol Nation￿ Antarctic Programs. SCAR established a new Equality, Diversity and Inclusion IEDII Action Group lo cOns￿er how EDI issues can be elfe¢tively dealt with within SCAR and to Page 4 SCIENnFIC COMMrrTEE ON ￿ARCTIc RESEARCH (A Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 OBJECTIVES AND ACTIVITIES {COTr￿1NVEO> identify practical actions ￿rned al correcting systemic discrimination in Scler￿e. Activities ol Relevance to Objecbve 1 Ipromotion ol scientilic knO￿edge) plus Icl and Idl (capacity building and communications) ol thg Charity.. SCAR has a Capacity Building, Education and Tr&ning ICBETI Committee, a key activity ol which is the Fellowship prograrnme. SCAR is a co-sponsor with the International Arctic Science Committee IIASCI of the Association ol Polar Earty Career Scienlists IAPECSI, whi¢h developed under the International Polar Year IIPY). The SCAR Fellowships conlinue to attracl a large num￿1 ol applicatsons wlh 30 proposals received lor the 2021 round. A tolal ol S SCAR Fellowships were awarded from the available furKls. with another 2 SCAR applicants funded by the COU￿11 ol Managers ol National Antarcb"c Programmes ICOMNAPI- The Fellowships are intended to allow early career researchers to carry out pericxls of research in a country differenl to their own and provide opportunities lor networking skill development. The 2021 SCAR cohort were from Germany, Brazil, Austrdia, Finland and Arganbna. See httpsjlwww.scar.￿￿9eneral-SCar-new&l2O2l-Iel10w-aWards/ lor further details. In 2013, SCAR introduced a new Visiling P[oless￿ scheme. This was joinuy lunded by India and SCAR for the inaugural year. The main aim ol the scheme was lo promote partnerships that advance Antarctic research in a ¢ountry with a developing Anlarctic programme. In 2018 several changes were introduced with the ol addressing a lack of diversity in the applications and to den the scope ol the capacity building prowsed by the applicants. As a result, the scheme was re-launched as the SCAR Visiting Scholarships and attracted 27 athications (compared to 9 in 20171 with 9 01 these applicants being lemale (none in 20171. For 2021, 14 applications weie received with 9 01 these being female. For the 2021 scheme, 3 awards were made lin earty 20221 to appI￿an1$ from Malaysia, USA and Spain (see https.'/lWw.scar.or￿gener&-$¢ar-neW￿scar-annDunces-the-202l-V1$1ting-sch0Iarsfj. Further delals ol this scheme are given at httpsjlww.scar.or￿awardS1wSitsng-S¢h0IarS1overVieWI SCAR is partTcipakn"ng in a project to upjate and publish online a l)ook on Polar Education ReSoUr￿S that was published in 2010, as a legacy ol the Inlernalional Polar Year 2007-2008. SCAR is partnering with Polar Educators International, the Inlernational Arct￿ S￿enCe Commtitee IIASCI and the Association ol Polar Earfy Career Scientists IAPECSI lo advance the project. Activities ol Relevance to Objective 2 lscienkn'r￿ research} rAus (al and Ibl (policy thice and data access) of thg Charity.. SCAR'S mission is to be the leading nOn￿OVernments1, inteMatiOn￿ facilitator and advocate ol research in and from the Antarctic region, lo provide objective and authoritative scientific advice to the Antarclic Treaty and other bodies, and to bring emerging issues lo the attention ol p)licy makers. 2022 SCAR has published new SCAR Data Policy Ihttps."Ilwww.scar.orglscar- librarylsearchlproduclslscadm15767-scar-dala-policy-202W) lollowng a prccess which sought to alvJn the data policies ol intemational scientilic tA)di8s coordtnab.ng research in the polar regions. Detailed SCAR news for the year can be accessed thiough back issues of the SCAR Newsletter at https'.IIvw￿.SCar.orglnewsInews1etterSl as well as the SCAR News webpage, Fa￿b0(*, knnkedln and Twitter srtes. Page S SCIEFMFIC COMmf￿EE ON ATrifARCTIC RESEARCH (A Company Llmlted by Guarant801 TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 {CONTINUED) a. INVESTMENT POLICY AND PERFORMANCE Through ils investment policy SCAR aims lo provide Capit￿ growth lo ellable it to lullil ils mission and objectives. In the longer term it is intended to draw income from these investments to susy)rt SCAR activities. SCAR worked with a profession￿ Investment A(fvisor when initiating the investments portlDlio and directly with the Investment Managerlsl to generate a risk wolile wh￿h matches the expectations ol the Executive Committee with regard to inveslmenls. SCAR does not depend on returns from this investillg activtty to fund its annual expenditure so il is anticipated dividends and profits wll be re-investgd in the porttolio lor al least Ihe first 5 ye￿s. The Executive Gommittee is prepared to lolerate volatility in the capital value of the investment wrtlolio but will review and assess the perfOrrnan￿ annualty as outlined below. Benchmarks The Investment Adw"sor and Investmenl Managèrlsl will meet at least annLtally wth the Executive Director to review the slalus ol the portfolio. The Investment Manageilsl performan￿ will be assessed by the Executive Director and EX￿Ul1Ve Committee annualty with ielerence to LEnchmarks and targets. These have been initially sel at target growth lor the wrtfolio pgr annum. Page 6 SCIE￿IFIc COMMirrEE ON Al￿ARCTIc RESEARCH IA Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 {CONTINUEDI b. FACTORS RELEVANT TO ACHIEVE OBJECTIVES The major faclors relevant to SCAR achiewng its 0￿"ectiveS are (il successful planning as envisioned by the SCAR Strategic Plan and lill ensuring adequate resources, both financial and human, to carry out the objectives ol the Charity. The new Strategic Plan was adopted at the SCAR Delegales Meeting in August 2016 ar￿ published in early 2017. SCAR'S work in the next live years wll locus on key objectives.. To amplify ils leadership in Antaretic research by further strenglhening and expanding high-quality collaboratwe and visionary Antarctic research, includiThJ obsetvations Irom Antarctica., To offer independent Scientif￿ advice to Ant￿clie Treaty Consultative Meetings and other bodies dealing with Anlarcbc and SoLrthern Ocean matters,. To enhance and grow research capacity in SCAR member countries., To enhance public awaTeness and understanding ol Antarctic issues through communication ol Antarctic research results in a timely and accessible manner., and To facilitate unrestricted and free access lo Antarctic research data. These objectives wll b8 delivered in the Ibghl ol the recommendations ol Ihe ext8mal International Science Council IISCI Review and the outcomes of the internd SCAR Structure Rewew. The issue ol funds is expanded below. With regards lo human resources, in 2021 SCAR had the benefit ol two lull time stall, an Executive Direclor, Dr Chandrika Nath and an Executive Officer, Dr Eoghan Grillin. There were so fv40 part time staff members, Administralive Officei. Rosemary Nash and Communications and Information Officer, Johanna Grabow, who became lull-tr.me April 2021. The Charity is fortunate lo have the support of the Scott Polar Research InstitLrte. which kindly provides ollice accommodation and other facililieslamenilies lor use by the Charity. In return, the Charity prowdes copies ol routine publications lor the Institute's library and prowdes advice arKI assistance to Institute staff whenever p)ssible. Due to Ihe nature ol this two-way arrangemenl. Tt is not Possible lor the charity to value the in-kind donation within the financial statements. FINANCIAL REVIEW a. REVIEW During 2021 SCAR received giant income of £19,805 12020.. £19,805>, income from national contributions ol £517,148 12020.. £517,148) and other In￿Me or £9,92412020- £9,924). Expenditure in the year was £379,467 12020.. £379,467). The atrA)ve results in nel income lor the year 01 £177,34212020". net income of £177,3421. At the balance sheet dale the Charity held restricted lunds of £78.99912020'. £78,9991 as detailed in note 13 to the accounts. The Charity also held unrestricted lur)ds, tO￿ling £655.03512020'. £655,035>. Page 7 SCIEKfiFIC COmMf￿EE ON ApifARCTIC RESEARCH {A Cornpany Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2021 b. RESERVES POLICY SCAFI'S reserve is split into Iwo funds= lil A -SCAR ReseNe- is a fijnd lo cover routine meetings and admin expense5 lor a lull year which is calculated lo be the 10t￿ costs ol routine meeting plus admin costs lor the previous year plus 10Yo and lill A "Contingency Fund- which comprises the addrtional funds left to SCAR after committed funds and the Reserve have been taken into account. The Trusteés aim to retain free reserves that are al least equal to the cost of routine meetings and administrationlsupport costs, uplifted by 10%. For 2021 the SCAR Reserve figure based on its budgeted meetings and admin costs is calculated lo be £255,826 IUSD$326,6901 and free reserves per the accounts are £807.88012020.' £653,831). As shown on the budgel for 2022 sunilicanl funds have canied forward from 2021 into 2022 and these have been assNJned to both our Groups as well as a contingency fund lo be used as directed by Ihe Trustees. Significant extra lunds from contingency have directed to extra suptK)rt ol our Capacity Building schemes IFellowships, Visiting Scholars and Interns - circa USD$65kl, supwrt lor the Secretariat reflecting the extènded medical leave lor the Executive Dire¢loi Icirca USD$40kl as well as extending the Communications and Inlorfnation Ofli¢er hours to lull-time and support lor new Groups Icirca USD$17kl. The funds allocated to the Groups will be rolled into 2022 il not expended, whi¢h is likely given the slow return lo normal business in terms ol science meetings. Any conlingeney funds left al the year end will again be available for distiibulion lo priority short lem) support lor the community. Page 8 SCIE￿IFIc COMMITTEE ON ￿ARCTIc RESEARCH {A Company Llmlted by Guarante81 TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 c. PRINCIPAL FUNDING SCAR'S principal source of funding is Irom its member countrie5, who all pay a sell assessed fee on a scale that in 2018 ranged from $7.000 10 $27,500 per year. Al the Delegates meeting. 2012: Members accepted an increase in SCAR Membership Fees which came into force in 2013 and were applicable untrl 2017_ SCAR Delegates agreed in 2016 to a new structure lor National Contributions liom membgrs lo come into Iorce in 2018. The details 101 2020 are as below= Category Contribution Totaj In 2021.. Members Special Contributors Well Developed Programmes $27,500 $55,000 Russia, USA $21,200 $339,200 Argentina, Australia, Brazil, China, France, Gem)any, India, Italy, Japan, Republic ol Korea, The Netherlands, New Zealand, Notway, South Africa in. UK Belgium, Bulgaria. Canada, Chile, Ecuador, Finland, Malaysia, Peru, Poland, Portugd, Sweden. Swllzerland. Ukraine. Uru ua ALbStria. Belarus, Colombia, Czech Republic: Denmath, Iran, Monaoo, Pth'slan, Romania, Thailand, Turkey, Venezuela $12,400 14 $173.600 Stages Programme Associate Member $7,000 12 $84,000 Total.. $651,800 The charity does not engage in public lundraising. During 2021 the Charity d#J not engage any external professional fundraisers. Donations in the year totalled £5.0712020-. £nill. Page 9 SClEP￿lF1c COMMrrTEE ON ANTARCTIC RESEARCH A Company Llmited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 d. PLANS FOR FUTURE PERIODS AND THE IMPACT OF COVID-19 SCAR continues to be significantly impacted in its Lperations by COVID-19 pandemic. An online Delegates meeting was held in March 2021 to ensure Ihe most important decisions lacing the organisalion could be delemiined, such as approv￿ ol budgets and election ol Trustees. 2022 has seen a slow return to in person meetings although the 2022 SCAR Open Science Conference. due to have been held in Hyderabad, India in August 2022, has moved to an online only lomiat_ The Secretariat continue to woth primarily remotely and following consullalions have begun gradual ielurn to the offices at the Scott Polar Research Institute. This ensures that lessons can be learned from Ihe enforced absence. In 2021 the Executive Committee controlled and monitored expenditure to ensure cashllow and reserves were maintained, relle¢ling the level ol Nab"onal Contribubon incorne received. These procedures have been maintained lor 2022, and to dale, there has t*en no issues wilh cashflow or increasing levels of national contribution arrears. Future Developments As noted the 2022 SCAR Open Science ¢onlerence will take place in an online lorrnat in August 2022. This will be followed by the 2022 SCAR Delegates Meeting taking place ill a hybrid fomat in September 2022, with the in person meeting being held in Goa, India, the first phys￿al meeting ol Delegates to take pla¢e since 2018 in Davos, Swtzerland. 11 is intended that for 2024 the standard loimal ol having in ￿rsOn meetings lor the SCAR Business Meetings, Open Science Conference and Delegales meekn.ng w¢ll all take place over weeks in Pucon, Chile. The Secretariat wll work with the local hosts lo investigate how many ol the events can be opened up lo virtual participation, including the necessity ol having a hybrid Delegates meeting. Virtual participation addresses Some ol the inequalities ol opportunity p￿sented by IOT instance the cost of travel to in person meetings ancf helps SCAR achieve its ambition ol reducing its carbon footprint, wlh a target ol nel zero by 2030. A number ol in person meetings, delayed due to the global Covid pandemic, are now planned lor 2023. Th8 SCAR Biology Symposium, which was due to take place in New Zealarid in 2021 has now been scheduled lor tho end ol July 2023. Other major meetings are planned by SRPS and our cosponsored organization, SOOS. a. STRUCTURE, GOVERNANCE AND MANAGEMETr . CONSTITUTION The company is constituted Und￿ a Memofandum ol ASSC￿lation dated 141412008 and is a registered charity nUM￿r 112840. Charity was incorporaled in England as a company limited by guarantee on 14 April 2008 and registered as a charity on 4 July 2008. Page 10 SCIENnFIC COMMirrEE ON ANTARCTIC RESEARCH IA Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 {CONTINUED} b. METHOD OF APPOINTME￿ OR ELECTION OF TRu￿EEs The management ol the Charity is the reswnsitMIty of the Trustees vtho are elected and co-opted under the temis ol the Articles ol A$s￿l3t10n. The Trustees who served during Ihe year were as follows: Prot S Chown, President lo March 2021, Past PresKlent Ihereafter Dr Yeadong Kim, President after March 2021 Prol J Simoes Piol Gary Wilson Dr Catherine Aitz until March 2021 Dr Deneb Karentz after March 2021 Dr M. RaVIchar￿ran POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES When new trustees are ar4)ointed there are pro￿lUreS in place lo ensure that they clearly understand their duties and responsibilities. d. PAY POLICY FOR SENIOR STAFF At the 2016 SCAR Delegates Meeting Ihe Execulive Commtitee was lasked with ￿vie￿n9 the Secretarial Salaries. As a result proposals were developed and lomi￿lY agreed by the Executive Committee at their meeting in Brno, Czech Republic in 2017. The Executive Committee concl￿ed 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 pwd by similar scientific organizations based in the same crty. Staff annual salary scales were reslruclured lo the following ranges.. Executive Director £57,764 - £73.015- Execulive Offter £34,956 - £46,924,. Administrative Assistant Ipart-lime 60V.I Q27,629- Q32,958. Staff salaries will be aFyraised annualty wthin these pay sC￿e ranges. e. ORGANISATIONAL STRUCTURE AND DECISION MAKING The Charity has an Execulive Committee IEXCOMI comprising a President, lour Vice Presidents IVP. with responsibilities lor lil Finance, lill Education and Oulreach, liiil Science and livl Administrative and Constitutional Affairs) and a Past President ￿1 chosen lelectedl from Delegates or Alternate Delegates ol Full Mernbers. These members are also the Trustees ol the Charity. The Charity is run on a day to day basis by an Execulive Director. an Executive Officer, a part time Administrative Officer and a part time Communications and Information Ollicer. The Executive Officer is iesponsible lor the day to day financial management ol the Charity with oversight by the Executive Director. The Executive Director, who is a non-voling memt*r ol the Executive Committee, eonsuhs on financial matters with the Vice-Presidenl loi Finance. Page11 SCIEKfiFIC COMMrrrEE ON AKfARCTIC RESEARCH {A Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 ICONTINUEDI f. RISK MANAGEMENT The Trustees assess the major risks to which the charity is exposed, in particular those related lo 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 regularfy reviewed, at least annualty, and updated as necessary. In 2018 the organizalion established a risk register. From the financial perspecb"ve, the Charity has secure income from the national contributions ol its 44 Member countries in 2021. The number ol distinct contributors and the timely paymenl of contributions by the Members provides security lor future income. SCAR also continues to attract new MemtErs, with 4 new members having been approved in 2016. These new members contribLrted to SCAR membership lees in 2017. A further member was approved in 2018 bringing the total to 44 members. In 2021 one new member was added and Iwo merllbers moved from Associate to Full Membership_ The recoid ol incrèases in contribution levels provides confidence that the burden ol increasing costs through inflation and salary incieases larTrd the burden ol payment arrears due to a the issues laced by small minority ol members in making timely payments, due to their polib'cal circumstaneesl will not in the long run detracl from the ability to spend the majority ol income ellectively on Science activities. While there may be dilliculties in payment encountered by individual members from time lo lime, the level ol national contribution arrears is dosely monitored and has Idlen in recent years. The impact ol the loss ol administration and salary contrtbuhons Imm the Tinker-muse Prize after ils completion in 2018 has tEen offset by the increase in both members arKI Ihe a$S￿lat&￿ contributions. There are no Conventional -¢ompeb"torf organisatsons to SCAR in terms ol ils main ot4'e¢tives and its operations and ellecliveness are reviewed periodically both internally arKI externally. In 2015 an internal Structure Review was undertaken, with consuhation sought from the Antarckn"c research and policy communities. Thè results wer pr&sented at the 2016 Delegates meeting and several were aF¥)roved. The external rewew by the ISC resulted in a positive assessment ol SCAR activities with reCommer￿atIonS ieceived to to help enhance this work. The biggest operationat risk is the dependence the Charity has on the voluntary work carried OLrt on its behalf by tho Antarctic resoareh and policy communities. In tomis ol leadership and gLtidance for its SGience groups and the evaluation ol applications lor its various award, these volunteers continue to ensure that SCAFI is perceived to bg meeting its objectives lor the community. The Charity ￿11 continue to review the way in which it SUPPDrts these volunteers to ensure maximum effectiveness. As noted in the section on Plans loi Future PeriTrJs, Ihe SCAR Executive Committee continues lo closely monitoring the receipt ol National Contributions in 2022 to ensure Ihal expenditure is tailored to match the level ol income received. In this way the risk ol delayed or missed contribubons will be mitigated. Page 12 SCIEprriFIC COmMf￿EE ON AwfARCTIC RESEARCH (A Company Llmited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 STATEMETr￿ OF TRUSTEES, RESPONSIBILMES The Trustees (who are also the directors ol the company lor the purposes ol company lawl are responsible for preparing the Trustees. Report and the financial statements in accorda￿e wth applicthe law and United Kingdorn Accounting Standards (Uniled Kingdoffl Generally A¢cepled Accounting Praclicel. Company law requires the Trustees lo prepare financial statements for each financial Under cornpany law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and lair view ol the slate ol affairs ol Ihe company and ol ils incoming resources and application of resources, including its income and expenditure, lor that period. In preparing these financial slalemenls, the Trustees are required to: select suitable accounting policies and then apply them consislenuy., obs8rve the methods and principles of Ihe Charrties SORP IFRS 1021., makè judgments and accounting esb"mates that are reasonable and piudent,. stale whether applicable UK Accounts"ng Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financtal statements- prepare the linanciaS statements on the going concern basis unless it is inappropriate lo presume that the company will continue in business. The Trustees are resFx)nsible lor keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose wlh reasonable accuracy at any time the financial position ol the company and enable thern to ensure thal ihe financi￿ statements comply the Companies Act 2006. They are also responsible lor safeguarding the assets ol the company and hence loi taking reasonable steps lor the prevenlion and detection ol liaud and olhei irregularities. Dlsclosure ol Inlormatlon to audltors Each ol the persons who are Trustees at Ihe time when this Twstees. Report is at4)roved has confirmed Ihal.. so lar as that Trustee is aware, there is no relevant audit inlomiation ol which the charitys auditors are unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware ol any relevant audit information and to estthish Ihat the tharit￿S auditors are aware of that information. Approved by order ol the mem s ol the ly)ard of Twstees and Sign￿ on their behalf by.. rpl J Elmoes. Trustee Dale.. oi/q2/2 Z Pag9 13 ScIEF￿lFIc cOMMf￿EE ON ANTARCTIC RESEARCH (A Company Limited by Guarantoel INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF SCIENTIFIC COMMIThEE ON ￿ARCTIc RESEARCH OPINION We have audited the financial statements ol Scientific Committee on kntarctic Research (the 'charitable company'l lor the year ended 31 December 2021 which comprise the Statement ol Financial Activities, the Balance Sheet, the Slalement ol Cash Flows arKI the related notes, including a summary ol significant accounting policies. The linancial reporting framework that has applied in their preparation is applicable law and United Kingdom Accounting Standards, incI￿11ng Financial ReFw)rting Standard 102 'The Financial Reporting Standard appI￿able in the UK and Republic ol Ireland. Iunrled Kingyom Generally Accepted Accounting Practicel. In our opinion the linancial slatements-. give a true and lair vtgw ol the State of the Charitsble companys allairs as at 31 DecembeT 2021 and ol its incoming resources and applicats.on ol resources. including ils income and expenditure lor the year then ended., have been propety prepared in accorda￿ United ￿ngLI)M Generally Accepted Accounting Practice., and have been prepared in accordance ￿1h the requirements of Ihe Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance wtlh International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are lurther described in the Auditors, responsibilities lor the audit ol the financial statements section ol our report. We are Independent ol the charitable company in a¢cordance with the ethical requirements that are relevant to our audit of the linan¢iJ statements in the United Kirigdom, including the Financi￿ Reporting Council's Eth￿al Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements_ We believe that the audrt evidence we have obtained is sullicienl and appfopriafe to provide a basis lor our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the Trustees. use ol the going concern basis ol accoLJnty'ng in the preparation ol the linan¢ial statements is appropriate. Based on the work we have performed, we have not idenlilied any material uncertainties ielating to events or conditions that, individually or collectively, rnay cast sKJnili¢anl cbubt on the charitable cofflpanls ability to continue as a going concern for a period ol at least twelve months Irom when the financial statements are authorised lor issue. Our responsibilities and the responsibtlities ol the Twstees wilh respect lo goiThJ concern are descrited in the relevant sections ol this report. Page 14 SCIEMnFIC COMMITfEE ON ANTARCTIC RESEARCH {A Company Llmited by Guarantee) INDEPENDE￿ AuD￿ORs. REPORT TO THE MEMBERS OF SCIENTIFIC COMMirrEE ON ANTARCTIC RESEARCH (CONTINUED) OTHER INFORMATION The other information comprises the inloNnath"on included in the Annual Report other than the financial statements and our Auditois, Report thereon. The Trustees are responsible lor the other inlomiation contained wtthin the Annual Report. Our opinion on the financial slalements does not cover the other information and, except to the exlenl olhewse expli¢ttly slated in our report, we do not express any fomi ol assurance conclusion Ihergon. Our responsibility 15 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 ol the audit, or otherwise appears lo be materially misstaled. If we identify such material inconsisten¢ies or apparent material rnisstatements: we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 11, based on the work we have performed, we cotKlude thai there is a material misstatement ol this other information. we are required to reFX>rt that lacl. We have nothing lo report in thss regard. OPINION ON OTHER MAThERS PRESCRIBED B Y THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course ol the audit.. the information given in the Trustees, Report for the linancial year lor wh￿h the financi￿ slatemenls are prepared is consislenl with the financial statements. the Trustees. Rerx)rt has been wepared in a￿rdance ￿ applicable legal requirements. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light ol our knovlethje and understanding ol the charitable comFiany arKI its environment obtained in the course ol the al￿1t, we have not identif￿d Materi￿ misstatemellts in the Tnjslees, Report. We have noihing lo report in respect ol the lollowrKJ matters in relation lo vthich Companies Act 2006 requires us to report io you il, in our CfJinion= adequate accounkn"ThJ records have not been kept, or ieturns a(￿uate lor our audit have not been received from branches not visited by us", or the financial statements are nol in agreement wtth the accounting records and retums,. or certain disclosures ol Trustees, remuneration specified by law are not made- or we have not received all Ihe inlormalion and explanations we requirg lor our audit., or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take a￿antage ol Ihe small companies, exemptions in preparing the Trustees. Report and liom the requirement to piepare a Strategic Fleport. Page 15 SCIEPrnFIC COMmf￿EE ON AKfARCTIC RESEARCH (A Company Llmited by Guarantoel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SCIENllFIC COMMirrEE ON A￿ARCTIc RESEARCH (COPMNUEDI RESPONSIBIL ￿lEs OF TRUSTEES As explained more lully in the Trustees. Responsibilities Sfalemenl, the Trustees (who are also the directors ol the charitable company lor the purposes ol company lawl are respK)nsibfe lor the preparation ol the financial statements and lor trting satsslied that they give a true and fair wew, and lor such internal control as the Trustees delemiine is necessary to enable the preparation ol financi￿ stalewnents that are free Irom material missiatement, whether due to fraud or error. In preparing the financial statements, the Trustees are respK)nSitAe for assessing Ihe charitable companys ability to continue as a going concern, disclosing, as aF¥)licable. matters related to going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the charitable company oi lo cease operations, or have no realistic alternative bul lo do so. Page 16 SCIENTIFIC COMMirrEE ON APffARCTIC RESEARCH {A Company Limited by Guarante9) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SCIENTIFIC cOMMI￿EE ON ANTARCTIC RESEARCH (Co￿lNuED) AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance aboul vthelheT the financial statements as a whole are free from material misslalement, whethei due lo fraud or ertOT, aThJ lo issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level ol assurance, bLrt is not a guarantee that an audit ¢ondLJCted in ac¢ordance with ISAS IUKI will always detect a material mis5talement when it exists. Misstatements can arise from fraud or error and are considered materiJ il, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis ol these financial statements. Irregularits'es, including fraud, are Insta￿eS of non-compliance with laws arKI regulations. We design procedures in line with our responsibiltties, outlined above, to detect maleriJ misstatements in respect ol irregularities, including fraud. The extent to which our procedures are capable ol delecling irregularities, including fraud is detailed below.. Our approach to identl￿.ng and assessing the risks of material misstatement in respect of irregulartties, including fraud and non-compliance with laws atKI regulats"ons, was as follows- we ident'lied the laws and regulations applicable to the charitable company through discussions wth directors and other management, and Irom our kr￿wledge and experience ol the scientific sector., we obtained an understanding of the legJ and regulatory framework applicable to the entity and how the entity is complwng with that ITarnework", we obtained an underSta￿ling of the entitys policies and procedures on comptiance wth laws and regulations, including d￿UMentatiOn of any instances of non-complian￿,. and we assessed the extent of compliance with the laws and regulations identified above through making enquiries ol managemerbt and inspectiNJ legal correswThJence. We assessed Ihg susceptibility ol the charttable companYs financid statements lo material misstatement, including obtaining an underslanding ol how fraud might occur, by= rnaking enquiries ol management as to where they considered there was suscepts'bility lo fraud, their kno￿edge ol actual, suspected and ￿leged fraud. To address the risk of IraLKI through management bias and override ol controls, we. tested journ￿ entries lo identity unusual tran5actions- we designed pr￿ed￿re$ lo identity unexpected and unusuJ joumal entries and pertolmed lesling to confirm the validity ol such [K)s￿'ngs," and pertormed audit wort( over Ihe risk of management override of Controls, including lesling ol journal entries and other adjuslmenls IOT app¥opriateness, evaluatin9 the t)usiness rationale ol significant transactions outside the nomi￿ course ol business and ieviewng accounbng estimates lor tias. In response lo the risk of iriegularilies non-comFdiance with laws and regulations, we designed procedures which included. bul were nol limited to.. agreeing financial slatement dI￿lOsureS to underfyirMJ sw)porbng d0￿mentation., enquiiin9 01 management as lo actual and wlential lthgalion and claims., and Page 17 SCIEwfiFIC cOMMI￿EE ON ￿ARCTIc RESEARCH {A Company Limited by Guarantee) INDEPENDE￿ AUDITORS. REPORT TO THE MEMBERS OF SCIENTIRC COMMrrrEE ON ANTARCTIC RESEARCH (co￿1NUEDl we ￿Viewed minutes of meetings ol tFv)se charged governance. There are inherent limitations in our audit proce(lures descril￿d atrKJve. The more removed that laws and regulations are from linancial transaeiions, the less likety il is that we would become aware ol non-compliance. Auditing standards also limit the audit procedures required io identify non-compliance with laws arid regulations to enquiry ol the diraclors arKI olher vnanagement and Ihe in5peclk)n of regulatory and legaf correspondence, il any. Material misslalements that arise due lo Iraud can be harder to d￿ect Ihan those that arise from error as they may involve deliberate concealment or collusion. A further des¢ription of our responsibilities low the audit ol the financial statements is locat8d on the Financial Reporting Council's website al.. bvww.Ir¢.or -uklauditorsre Auditors, Rgport. nsibilities. This description forms part ol oui USE OF OUR REPORT This report is made solely lo the charttatle companKs meM￿r$, as a boty, in accordatKe wlh Chapter 3 01 Part 16 01 the Companies Act 2006. Our audit work has undertaken so that we might state to the charitable company's members those matters we are required to state to Ihem in an Auditors, Report and lor no other purpose. To the fullest extent ￿M)itted by law, we do not accept or assume responsitj'lity to anyone other than the charitable company and its membèrs, as a body. lor our al￿11 work, for thts report, ol lor the opinions we have formed. Kelly 8relherlck (Senlor Statutory Audltoi) for and on behalf ol Peters Elworthy & Moore Chartered Accountants Slalulory Auditors Salisbury House Station Road Cambridge CB12LA Date-. IC)18lao Page 18 SCIEfvmFIC COMmf￿EE ON ANTARCTIC RESEARCH IA Company Lirnited by Guarantge) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUMn FOR THE YEAR ENOED 31 OECEMBER 2021 Unrostrlcted funds 2021 Restrict9d funds 2021 Total funds 2021 Total funds 2020 Note INCOME FROM: Charilable activities Investments 474.354 2,746 477.100 3.706 542,389 4,488 TOTAL INCOME 478,060 2.746 480,806 546,877 EXPENDITURE ON: Raising funds Charitable aclivilies 4.549 356,651 4,406 375,061 351.331 5.320 TOTAL EXPENDITURE 355,880 5.320 361,2Th) 379,467 NET INCOMEI{EXPENDITUREI BEFORE NET GAINS ON INVESTMENTS Nel gainslllossesl on investments 122.180 20,893 (2.574) 119.606 20.893 167,410 9,932 NET INCOMEIIDEFICIT) Transfers between lurKIs 143.073 (2￿95) {2,5741 2,595 140,499 177,342 12 NET MOVEMENT IN FUNDS 140.478 21 140.499 177,342 RECONCILIATION OF FUNDS: Total funds broLsght forbwdrd Nel movement in funds 655.035 140,478 78.999 21 n4.034 140.499 556,692 177,342 TOTAL FUNDS CARRIED FORWARD 795,513 79,020 874,533 734,034 The Statement ol Financial Activitses includes all gaills and losses recognised in the year. The notes on pages 22 10 38 lorm part ol Ihese financid statements. Page 19 sCIETr￿lFlc COMMIThEE ON ANTARCTIC RESEARCH IA Company Llmited by Guaranteo) REGISTERED NUMBER: 06564642 BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2021 2020 2020 Note FIXED ASSETS Tangible assets Investments 124 1,204 253,488 273,536 273.660 254,692 CURRENT ASSETS Debtors Cash al bank and in hand 10 103,302 414.169 554,507 634,176 517,471 Creditors.. amounts falling due within one year (33,3031 138,1291 NET CURRENT ASS￿5 TOTAL ASSETS LESS CURRE LIABILITIES 600,873 479,342 874.533 734,034 TOTAL NET ASSETS 874,533 734,034 CHARITY FUNDS Restricted funds Unreslricled funds 12 79,020 795.513 78,999 655,035 12 TOTAL FUNDS 874.533 734,034 The Trustees ackno¥￿edge their responsibiltttes lor coMp￿ng with the requirements ol the Act with respect to accounting records and preparation ol financial slalements. The financial statements have been prepared in accordance wth the prowsions apPI￿able lo entities subjecl lo the small companies regime. The linanGial statements were oved aThJ aLthorised for issue by the Trnstees and signed on their behalf by." Pr moes esident lor Fina a,2 6/91￿11 The notes on pages 22 10 38 fomi part of these financi￿ slalements. Page 20 SCIEPMFIC COMMrrrEE ON ANTARCTIC RESEARCH (A Company Llmited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDEO 31 DECEMBER 2021 2021 2020 CASH FLOWS FROM OPERATING ACTivrriES Net cash used in operating actiwtes 137.421 80,616 CASH FLOWS FROM INVESTING ACTIVITIES Dividends, interests and rents from investments Proceeds from sale ol investments Purchase of investments 3,707 25,224 126.014) 4,488 41,957 146.7521 NET CASH PROVIDED BYIIUSED IN) INVESTING ACTIVITIES 2.917 (3071 CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR Cash and cash equivalents at Ihe beginning of Ihe yeat 140,338 80.309 414.169 333,860 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 554,507 414,169 The notes on pages 22 10 38 form part ol these linanci￿ Sklemgnts Page 21 SCIENTIFIC COMMrrTEE ON AKTARCTIC RESEARCH IA Company Limlted by Guarant8e) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with ihe Charibes SORP IFRS 1021 Accounting and Reporting ty Charities.. Statement ol Recommended Practice applicable lo charities Preparing their accounts in accordance with the Fina[￿la1 Reporting Star)dard applicable in the UK and Republic ol Ireland IFRS 1021 Isecond edition of Ihe Charitie5 SORP October 2019, effective effective 1 January 20191. Scientific Committee on Antarctic Research meels the definTlion ol a public benef11 entity under FRS 102. Assets and liabilrties are Initi￿lY recognised at historical Cost or transaction value unless otherwise stated in the relevant accounb.ng wlw. There were no significant estimates or judgements made by rnanagemenl in preparing these financial statements. 1.2 GOING CONCERN The Trustees have reviewed the financi￿ position ol the Charity, including the impact ol COVID-19 and have a reasonable expecialion that the Charity has adequate resources to continue in operational exislen¢e lor the foreseeable future. Accordingly, the linancial statements continue to be prepared on the going Co￿ern 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 ol the Charity being Wou￿1 up, the liability in respect ol the guarantee is limited to £1 per member ol the Charity. 1.4 FUND ACCOUNTING General funds are un￿stIl¢led lunds which are available lor use at the discretson ol the Trustees in furtherance ol the general (Ibjeclives ol the company and which have not been designated lor other purwses. Designated lunds Comprise unrestricted luJwts that have been set asKJe by the Truslees lor particular purposes. The aim and use ol each designal&J fund is set out in the notes to the linancial statements. Restricted funds are lunds which are to be used in accordance vAth specilic ￿$trictionS imposed by donors or which have been raised by the company lor particular PUTposes. The costs ol raising and administering sL￿h funds are charged againsl the specific lund. The aim and use of each restricted lund is set out in the notes to the financial slalewnents. Page 22 SCIEMnFIC COMMrrrEE ON AKfARCTIC RESEARCH (A Company Limlted by Guaranto?) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES (CONTINUED) 1.5 INCOME All income is recognised once the company has entillement to the income, il is probable that the income will be received and the amount ol income rwivable can be measured reliably. Donaled faeilities are recognised when Ihe charity has conlrol over the item, any conditions associated with the donated item have been met, the ￿ceipt ol economic benefit from the us8 ol the charity ol the item is probable and that economic benefit can be measured reliably. The Charity sometimes secvres ollice space lor meetings free of Charge, however in the majority ol instances there is a significant degree ol reciprocity to the arrangement and therefore it is not possible lo estimate the value. The net effect, taking the recIprc￿l ariangement inio account, is not deemed to be significant and is not valued in these accounts. Income on funds held lor derKJsit is included when receivable and the amount can be measured reliably by the Charity" this is nomially urK)n nolilication ol the interest pad or payable by the Bank. Dividends are recconised once the dmdend has been declared and notification has been r￿e1Ved ol the dmdend due. Income from national wntribukn.ons is recognised in the period to which it relates. National contributions owng 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 sell assess which level ol contribution is most appropriate with regard to Ihe level ol Antarctic research undertaken in that country. Grants are rec(wJnised when Ihe Charity has been notified in wrtting ol both the amount and settlement date. In the event that a grant is subject to condilions thal iequire a level of performance before the Charity is entitled lo the lunds, the income is deferred and nol recognised until either those conditions are lully mel, or the luifillmenl ol those conditsons is wholly wthin the Control ol the charty and it is wobable that Ihose corKlitions will be lullilled 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 ol the servi￿. 1.6 EXPENDITURE Expenditure is reccxjnised once there is a legal 01 constructive obligation to transfer economic benefit lo a third party, it is probable thal a transfer of economic benefits wll be required in settlement and the amount ol the O￿lgaliOn can be measured reliably. All expenditure is accounted lor on an accruals basis. All expenses including support costs and governance costs are all￿ated lo the akwlicthe experbditure headings. Surwrt costs are those cos15 incurred directly in supwrt ol expenditure on the objects ol the company and include project management. Governance costs are those incurred in Connection with administration ol the company and compliance with constitutional and statutory requirements. Gosls of rasing lunds iepresenl investment managemenl lees. The wages and salaries ol the Executive Director and Executive Ollicei have been allocated on the basis ol the proportion ol time spent on direct and support aeb"vilies. Page 23 SCIENTIFIC COMMrrTEE ON AfrifARCTIC RESEARCH (A Company Llmit8d by Guorant8e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES (coKfiNUED) 1.6 EXPENDITURE IcoKnNUEDI Expenditure on raising funds includes all expenditure incurred by the company to raise funds lor ils charitable purposes and irKludes costs of all lundraising actsvibes events and non. AUDITORS, REMUNERATION 2021 2020 Fees payable to the companis a￿li10r lor the audit ol the companys annual accounls 8,030 8,724 Fees payable to the companys auditor in respect of= I non-audit services not included above 5,160 4,782 Pag& 29 SCIEMnFIC COMMITfEE ON Afr￿ARCTIc RESEARCH IA Company Limitad by Guarantea) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 STAFF COSTS 2021 2020 Wages and salaries Social svurily costs Contribution lo defined Contrib￿lOn ￿nSIOn schemes Consultancy 168,797 13.780 5,252 153,833 12,209 4,897 217.217 170,939 The average number ol persons employed ty the company duriThJ the y8ar was as follows". 2021 No. 2020 No. Employees The numiEr of empfoyees whose employee benefts (excluding employer pension cosisl exceeded £60,000 was.. 2021 No. 2020 No. In the band £60,001- £70,000 The key managemenl personnel ol the charity comprises the Twstees and the Executive Director. the Trustees all give their lime arml exs*rtise without any kind ol remuneration or other benelrt in kind12020.' £Nill. The tola employTheni benefits ol key management personnel we £68,780 12020.. £77,097). EmployTnent benefits includes employeis national insurance and employer pension contributions. During the year, no12020.. None) Trustees received ieimbursed travel expenses 01 had payments made directly lo a third party on their t*hall. Pag& 30 SCIE1￿lFIc COMMrrrEE ON Al￿ARCTIc RESEARCH (A Company Llmited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 TANGIBLE FIXED ASs￿s Computer equlpment COST OR VALUATION Al 1 January 2023 18,7S7 Al 31 December 2021 18.757 DEPRECIATION At 1 January 2021 Charge for the year 17,553 1.080 Al 31 December 2021 18.633 NET BOOK VALUE At 31 December 2021 124 Al 31 December 2020 1,204 FIXED ASSET INVESTMENTS Listèd Cash held at investments brokers Total COST OR VALUATION At 1 January 2021 Additions Disposals (Proceeds £25.223. Gain £675} Revaluations Movernent in cash balan 240,520 26.014 (24,548) 20,218 12,968 253,488 26,014 (24,5481 20,218 (1,636) 11,636} AT 31 DECEMBER 2021 262,204 11,332 273.536 Page31 SCIE￿IFIc COMMirrEE ON AKTARCTIC RESEARCH (A Company Llrnit8d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 FIXED ASSET INVESTMETrifs (CONTINUED) All the fixed asset inveslments we held in ihe UK. All investments are carried at their lair value. Investment in equities and fixed interest se¢urilies are all traded in quoted public markets. primarity the London Stock Exchange. Holdings in commor> investment funds, unit trusts and open-ended investrnenl companies are at the bid pri¢e. The basis ol lair value lor quoted investments is equivalent to the martlet V￿Ue. ijsing the bid price. Asset sales and purchases are recognised al the date ol trade at cost Ithal is their transaeh.on value). The Charity is operating an investment policy that provides for a degree of diversification ol holdings thin ditferenl unit trust investments. Potential returns have been sought Irom a combination ol capital appreciation and income return. These returns have been sought from a combination ol the assets used in Balanced Return. porifolios, bul also include a wider raroe ol possible investments that are more volatile, bul proV￿e a higher potential return. such as investments in shares or overseas investments. The portfolio is well diversilied by asset class and more We￿hled towards more secure investments such as British Government securities (Gills) or bonds issued by other secure supranational organisations such as the European Investment Bank. 11 also comprises of other income producing investments, such as corporate bonds and prefere￿e shares bul lo a lesser exlent than normally associated with 'lncome Return. investors. The balance of Ihe w)rtlolio incorporates direct investments into shares ol large and medium sized companies. The Charrty does not make use of derivalives as it takes Ihe view that investments are held lor their longer term growth and annual income. The Charity has no mat911￿ inveslment hol(firYJs in matkets subject to exchange controls or trading restrictions. 10. DEBTORS 2021 2020 DUE wrrHIN ONE YEAR Trade debtors Other debtors 75,669 103,302 79,669 103,302 Page 32 SCIENTIFIC COMmf￿EE ON ￿ARCTIc RESEARCH {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditors 17,339 15,964 20,328 14,446 3,355 Accruals Pension payable 33,303 38,129 Page 33 SClEP￿lFIc COMMIThEE ON ANTARCTIC RESEARCH (A Company Llmiled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 December 2021 Balance at I January 2021 Transfers Inlout Gain$1 (Losses) Incomo Expendlture UNRESTRICTED FUNDS General Funds- all funds 655.035 478,060 1355.880) 12.5951 20,893 795.513 RESTRICTED FUNDS Antarctic Envirorkrnenls Port PRAMSO 31,570 47.429 2.746 {5.320) 29,185 49.835 78,999 2.746 (5.320) 1595 79.020 TOTAL OF FUNDS 734,034 480H16 (361.21X)) 20,893 874,533 Page 34 SCIE￿IFIc COmMf￿EE ON w￿ARCTIc RESEARCH IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS- PRIOR YEAR Balance al 31 December 2020 B￿anCe al 1 January 2020 Transfers inlout Gainsl ILossesl Income ExperKlilure UNRESTRICTED FUNDS General Funds - all funds 481,799 527,072 1367,6131 3,845 9,932 655,035 RESTRICTED FUNDS SCAR MarBIN 6,487 15,7781 17091 Antarctic Environments Port 19,533 48,873 19,805 16,0761 11,6921 11,4441 31,570 47,429 PRAMSO 74.893 19,805 111,8541 13,8451 78,999 TOTAL OF FUNDS 556.692 546,8n 1379.4671 9,932 734,034 All ol the Iranslers represent administration recharges and foreign excharvJe differences. Flestricted Funds SCAR MarBIN The SCAR Marine 8i(Kliversity Inlomiation Nefv￿rk under the aegis ol SCAR and supported ty the Total Foundation. IThe Antarctic Enwronments Port￿ - The Portal IwvM.environmenls.aqi continues to provide thg Antarctic Treaty Parties wlh easy access lo reliable and up-to-dale information on a range ol issues relevant to Ihe management ol Antarctic envtronmenls. During the year funds ware received from The Ministry ol Foreyn Affal￿- Netherlands Govemment and the Australiall Antarct￿ Division. PRAMSO IPalewlimale records from the Antarctic hAargin and Southern Ocean) Support provided alongside SRP - PAIS IScientifi¢ Research Programme Past Anlarclic Ice Sheet dynamicsl and the Programme Planning Group lor INSTANT IINSiabililies and Thresholds in ANTarcti¢al. Page 35 SClEP￿lFIc COMMirrEE ON ￿ARCTIc RESEARCH (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 13. ANALYSIS OF NET ASSEfs BETWEEN FUNDS ANALYSIS OF NET ASSETS 8EfwEEN FUNDS- CURRETr￿ YEAR Unrestricted lunds 2021 Rgstrlcted funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due wthin one year 124 124 273,536 634,176 (33,303) 273,536 555,156 133,3031 79,020 TOTAL 795.513 79,020 874.533 ANALYSIS OF NET ASSEfs BEfwEEN FUNDS- PRIOR YEAR Unrestiicled lunds 2020 Restricted funds 2020 Total ftjnds 2020 Tangible fixed assets Fixed assel investments Current assets Creditors due within one year 1,204 253,488 438,472 138,1291 1,204 253.488 78,999 517,471 138,1291 TOTAL 655,035 78,999 734.034 Page 36 SCIENTIFIC COmMf￿EE ON ApifARCTIC RESEARCH (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 14. 2021 2020 Nel income lor the year las per Statement of FinwKiat Aclwiknesl 140,499 177,342 ADJUSTMENTS FOR: Depieaation charges IGainslAosses on investrnenls Diwdends, interests and rents from investrnents Decreasellincreasel in debtors Decrease in eredilors Movement in cash al brokei 1.080 120,8941 {3,7071 23.633 14,826) 1,636 1,381 19,9321 14,4881 130,3801 158,0461 4,739 NET CASH PROVIDED BY OPERATING ACTivmES 137,421 80,616 15. ANALYSIS OF CASH AND CASH EQuIvALE￿s 2021 2020 Cash in hand 554.507 414,169 TOTAL CASH AND CASH EQUlVALEP￿s 554.507 414,169 16. ANALYSIS OF CHANGES IN NET DEBT Changes In market value and At1 gxchange January rate 2021 Cash flows movgmants A131 Decembor 2021 Cash al bank and in hand Debt due within 1 year 414.169 13,355) 143,871 3,355 {3.5331 554,507 410.814 147,226 (3,5331 5S4,507 Page 37 SCIEF￿[FIc COMMrrrEE ON ANTARCTIC RESEARCH IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. 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 in(kpendenlly administered lurKI. The pension Cost charge represents contributions payable by the charity to the fund and amounted to £5,252 12020 - £4,897). Conlribukn'ons lotajling £NIL12020 - £3,355) were payable to the furKI al the balan￿ sheet dale and are included in creditors. 18. RELATED PARTY TRANSACTIONS There were no related paty trallsactions durrrwJ Ihe current OT prewous years. Page 38