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← Ocean Generation

2025-03-31-accounts

OCEAN GENERATION

(A company limited by guarantee)

Company No 06949511 Charity No 1139843

Directors’ Report and Unaudited Consolidated Financial Statements For the year ended 31 March 2025

OCEAN GENERATION FORMERLY PLASTIC OCEANS

Table of Contents

Company Information ............................................................................................................................................. 1 Directors’ Report ............................................................................................................................................... 2-12 Independent Examiner’s Report ........................................................................................................................... 13 Consolidated Statement of Financial Activities .................................................................................................... 14 Consolidated Balance Sheet ................................................................................................................................. 15 Company Balance Sheet ....................................................................................................................................... 16 Consolidated Statement of Cash Flows………………………………………………………………………………………………………….…17 Notes to the Financial Statements .................................................................................................................. 18-22

OCEAN GENERATION

Company Information

Directors Philip Scales (Chair)
Andrew Cartland
Edward Garrett
Philip Jenkins
Alexandra Lazenby
Secretary FIM Secretaries IOM Limited
Founder Jo Ruxton MBE
Accountant FIM Capital Limited
55 Athol Street
Douglas
Isle of Man
IM1 1LA
Independent Examiner Astin Accounts Solutions Limited
Ground floor, 14 Peel Road
Douglas
Isle of Man
IM1 4LR
Registered Office One, Bartholomew Close
London
England
EC1A 7BL
Company No 06949511
Charity Registered No 1139843

1

OCEAN GENERATION Directors’ Report for the year ended 31 March 2025

The Directors present their Annual Report and unaudited Consolidated Financial Statements for the year ended 31 March 2025.

Business of the Company

Ocean Generation (the “Company”) is a not-for-profit company limited by guarantee and not having any share capital. Members’ liability is limited to ten pounds per member. Surplus funds are used to further the aims of the Company and members are not permitted to receive bonuses or dividends.

The Directors of the Company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as either Directors or Trustees. Charitable status was granted on 13 January 2011.

Principal Activity

The mission of the Company is to free the Ocean from human threats within a generation.

We review our aims, objectives, and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to achieving our objectives.

The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. In particular, the Trustees consider how planned activities will contribute to the aims and objectives set.

Directors of the Company

The Directors who held office during the year are as follows:

Philip Scales (Chair)

Andrew Cartland

Edward Garrett

Philip Jenkins

Alexandra Lazenby

Auditors

These financial statements have not been audited as the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Statement of Directors’ Responsibilities

The Directors are responsible for preparing the report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice under FRS 102 ‘‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’’. The Directors confirm that the report and financial statements of the Company comply with the current statutory requirements, the requirements of the 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 (FRS 102).

Company law requires the Directors to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the surplus or deficit for that period. In preparing those financial statements, the Directors are required to:

The Directors are responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to 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

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OCEAN GENERATION Directors’ Report for the year ended 31 March 2025 (continued)

Strategic report

The Directors present their Strategic Report for the year ended 31 March 2025.

Introduction from the Chairman – Philip Scales

At the midpoint in the UN Ocean Decade 2021-2030, we have an opportunity to reflect on the success of Ocean Generation and our target to reach and inspire 50 million people to take positive Ocean action during this Ocean Decade.

I am delighted to report that we are well on course for achieving our target, with 23.9m people reached through our social media content in 2024 alone (Jan-Dec), taking our total reach in the Ocean Decade so far to an incredible 35.5m.

During the year we continued our full range of Ocean impact activities. We continued to embed Science across all our work. It underpins our Communications strategy, Youth Engagement programmes, and partnerships, ensuring our impact remains rooted in furthering the betterment of our Ocean. In 2024/25 we researched and published 21 sciencebacked articles to our Science Hub which were read by over 41,000 people, an increase of over 30% in readership in one year. Peer-reviewed science continues to be the keystone for all our programmes.

With 42% of the global population under the age of 25, our Youth Engagement work sits at the core of Ocean Generation. We believe the world’s youth are a pivotal driver of positive change towards the environment. By amplifying their voices, instilling hope and empowering action, we’re laying the groundwork for a sustainable future.

In 2024, we continued to grow and deliver our three core programmes tailored to different age groups between 3 – 25 years-old. We introduce very young children to the wonders of the Ocean with Earth Cubs, equip school-aged children with knowledge and tools for change through Ocean Academy, and empower young adults to drive Ocean action in their communities and careers through Wavemakers.

Through our Earth Cubs partnership (3-11 yrs), we had 603k engagements from children with educational Oceanthemed games and videos in 2024 and 13k teachers accessed our resources across 144 countries.

Through our Ocean Academy programme (5-16 yrs), we delivered workshops to 9,405 school children whilst engaging 2,310 parents and educators. We also reached a further 66,681 children via our digital Ocean Academy resources, bringing our 2024 total to a record-breaking 78,396 engagements.

In 2024, our Wavemakers programme (16-25 yrs) reached 23k young adults and 467 over 25 yr olds through a mixture of Wavemaker workshops (86 workshops in total), panel discussions, guest slots on podcasts, careers fairs and via our digital platforms. Our delivery partners for Wavemakers ranged from universities, youth and community groups, businesses, the Global Scouting JOTA-JOTI Jamboree, other environmental charities, and even stretched further internationally, delivering workshops in Amsterdam and building digital partnerships with schools in the Philippines.

In December 2024, we said goodbye to our outgoing Chief Executive, Richard Hill, and welcomed our new Chief Executive, Dr Victoria Edwards OBE. Victoria was a rural chartered surveyor and academic for over 20 years, before moving to the charitable sector in 2016. She has sat on the boards of several national public bodies, including the Forestry Commission and Countryside Agency, and was awarded the OBE in 2004 for services to the environment. The daughter of a seafarer and the widow of a film maker, Victoria felt that the role at Ocean Generation was beckoning to her and has enjoyed expanding her environmental knowledge to marine ecosystems. We consider ourselves extremely fortunate to have someone with the expertise and experience that Victoria brings and we welcome her aboard and look forward to her sharing her new perspectives with the rest of the team. We also say a huge thank you to Richard for all he has done for us over the last 4 years and wish him a very happy retirement.

Last year, we were delighted to welcome to new trustees to our board, Alexandra Lazenby and Edward Garrett. This year, we are continuing to increase the strength of our board and are in the process of seeking and engaging further excellent trustees.

On behalf of my fellow Trustees, I would like to sincerely thank all those who have supported us again this year. Sir David Attenborough’s new film, Ocean , has done much to push the Ocean further up the environmental agenda, but there is still so much to do to engender a greater understanding of and appreciation for all that the Ocean does for us. We thank every single person who has followed us, participated in a programme or contributed to our work, your support really does mean the Ocean to us!

And finally, a big thank you to our whole Ocean Generation team who have worked so hard this year to produce such impressive charitable impact!

Philip P Scales

Trustee and Chairman of the Board of Directors

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OCEAN GENERATION Directors’ Report for the year ended 31 March 2025 (continued)

Chief Executive Officer’s Report – Dr Victoria Edwards OBE

A. Strategy and Impact

1. HISTORICAL CONTEXT

The charity was created in 2009 by our founder Jo Ruxton MBE, to enable the filming of the ground-breaking documentary A Plastic Ocean and lead the campaign against plastics entering the Ocean. Translated into 11 languages, viewed by millions of people in over 75 countries around the world and named by Sir David Attenborough as “one of the most important films of our time,” A Plastic Ocean galvanised a growing wave of change by exposing the threat of plastic pollution to our health and the health of our Ocean. Our work in schools, talking about plastic to over 600,000 children in 11 countries identified that there was very little formal education about the Ocean in schools. This meant that a whole generation of young people were growing up without basic Ocean facts or the tools to make a difference to a broader range of Ocean threats.

In 2020, as the charity reached its tenth anniversary and we entered the United Nations’ own Decade of Ocean Science, we embarked on a full strategic review, resulting in a relaunch under a new brand name, with the ultimate purpose of restoring a healthy relationship between people and the Ocean. On 25 February 2021, we became Ocean Generation , using our decade of experience in tackling plastic to introduce our vision of an Ocean freed from human threats.

2. STRATEGY

As we grow and learn, we continue to tighten the focus of our work. In February 2024, on the third anniversary of our relaunch as Ocean Generation, we reviewed our strategy and summarised the following building blocks:

The importance of the Ocean: The Ocean is our life support system. It forms 70% of the surface of our blue planet and is home for over 90% of the earth’s natural habitats. It provides every second breath we take, captures 26% of human-made carbon emissions, and absorbs 90% of the excess heat we generate. The Ocean regulates our climate system and provides a natural solution to some of the planet’s biggest problems. Our impact on the Ocean: Every day the Ocean is threatened by human activity. We pollute it shamelessly. We extract its resources to the point of extinction. We drag the Ocean bed and develop its coastlines destructively. We use the Ocean daily without thought and collectively subject it to catastrophic climate change through the cumulative impact of all our actions.

In January 2025 we reviewed our strategy again, questioning how we can increase our impact and scale-up our delivery of Ocean Literacy. We are also working on improved impact evaluation, specifically identifying and measuring ways in which our work manifests itself into behavioural change.

We recognise that Ocean Generation’s unique contribution to Ocean conservation is in helping people to understand the importance of the Ocean and our impact on the Ocean. For a healthy planet, we need a healthy Ocean. We need everyone to understand the importance of the Ocean and the role we all have in restoring it.

Our Purpose: We exist to help people understand the importance of the Ocean and the role they have in restoring it

Our Vision: We see a world where society understands, values, and cares for the Ocean

Our Mission: We improve Ocean Literacy by translating complex science into engaging content, programmes and practical actions.

In everything we do, we’re changing the narrative. No fearmongering or over-simplifications; we’re endorsed by UNESCO for our Ocean Intelligence approach, through which we translate complex Ocean Science into captivating content everyone, everywhere can engage with.

Through our Films, Comms, and Youth Engagement work - anchored by Science and driven by Storytelling - we Introduce people to the Ocean, Educate about its importance, and Empower everyone to take action to create sustainable, positive change.

By 2030, the end of the UN’s Decade of the Ocean, we aim to engage 50 million people in Ocean action.

We are currently working on scaling-up our Ocean Literacy work by exploring collaborations and new programme areas. No ordinary Non-Governmental Organisation (NGO), Ocean Generation combines the disruptive energy of a youth collective with a decade of experience promoting Ocean action through science, storytelling, and film. We foster an inclusive approach to sustainability to be a true catalyst for change.

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OCEAN GENERATION Directors’ Report for the year ended 31 March 2025 (continued)

In autumn 2024 we embarked on a project with The Oman Youth Centre to create a bespoke Arabic version of our digital Ocean youth education and engagement programme, Wavemakers, for initial deployment throughout the Sultanate of Oman. The project entails the creation of a fully localized interface that supports right-to-left (RTL) text, a comprehensive translation of all existing content from English to Arabic, and the implementation of culturally appropriate design elements to enhance user engagement with Arabic-speaking audiences. We are on schedule to launch the programme in September 2025.

In early 2025 our pilot study of Ocean Academy (OA) delivery in Dubai commenced. Our Head of Youth Engagement and Youth Engagement Coordinator travelled to Dubai to conduct an initial scoping exercise, prior to OA being piloted in a sample of schools in September. We hope that this will be the start of taking Ocean Academy to many more parts of the world.

We seek partnerships from the commercial world to fund our activities whilst encouraging and supporting their own transformation agendas, for a more sustainable future. We would like to express our heartfelt thanks to our partners for their invaluable support. Here is a selection of those who have made a significant impact: Airbus, SC Johnson, Sea Change, FatFace Foundation, Chellaram Foundation, Dubai Holding & Jumeirah Group, Garfield Weston Foundation, Hiscox Foundation and Scottish Power Foundation.

We also work with other like-minded NGOs, to share science, content, and build engagement globally. We have spent the year building closer relationships with our charity partners and hope to engage in even more collaborative ventures in the future: together we are stronger in tackling Ocean threats.

3. SCIENCE

Science is the heartbeat of Ocean Generation and the foundation of everything we do.

We translate peer-reviewed scientific research into engaging, accessible content that people can understand and act on. Avoiding sensationalism and fear-mongering, we use our Curious Optimism value to explore the wonders of the marine world, the challenges it faces, and the solutions emerging every day.

Ocean Literacy Approach: endorsed by UNESCO

We don't claim to be experts in every current and emerging Ocean issue, but we know where to find expertise. We’re skilled at decoding scientific language, environmental policy and academic research, and turning it into compelling content that people engage with and learn from.

Our Ocean Intelligence approach is internationally endorsed (Project ID74) by the Intergovernmental Oceanographic Commission (IOC) of UNESCO as part of the UN Decade of Ocean Science for Sustainable Development (2021–2030).

We are recognised for translating complex Ocean science into engaging content and programmes. This science communication that yields impact is essential in empowering individuals to better understand why the Ocean matters and how to protect it.

Ocean Threats we address

We disseminated the 2,000-page Second World Ocean Assessment, a multi-year research report from the United Nations, into five headline Ocean threat areas. These continue to guide our work:

Science Hub Articles

We launched “The Ocean Explained”: a year-long initiative designed to reintroduce people to vital marine ecosystems. We published 21 science-backed articles to our Science Hub which were read by over 41k people.

The Deep

We revealed the vast, little-understood world below the surface. We explored how animals adapt to intense pressure and darkness, the believed-to-be origin of all life – Hydrothermal Vents - and introduced the concept of Whale Fall, where a single whale’s carcass supports a complex ecosystem on the Ocean floor for decades and facilitates extraordinary carbon capture.

We also produced a short animated video to answer, ‘How deep is the Ocean, really?’ using familiar landmarks to visualise its extraordinary depth. That video has been viewed over 14k times.

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OCEAN GENERATION

Directors’ Report for the year ended 31 March 2025 (continued)

Coastlines

We explored the vital zone where land meets Ocean. In this body of work, we unpacked how tides work, where waves come from and why the intertidal zone is so challenging to live in.

We also highlighted why Marine Protected Areas are essential for preserving biodiversity and demystified Exclusive Economic Zones, answering the complex question of: Who owns the Ocean?

Open Ocean

We followed migratory species, exploring how they navigate vast distances and the unique threats they face from ship strikes to climate disruption. We also tackled common myths around sharks, spotlighting their critical role in ecosystem health and the pressures they face from warming seas and overfishing.

The Polar Regions

We examined how melting sea ice is disrupting Ocean currents and accelerating global climate change. We also looked at species specially adapted to survive in freezing temperatures and explored how ice core samples are unlocking ancient climate records to help us understand Earth’s future.

Across the Organisation

We continued to embed Science across all our work. It underpins our Communications strategy, Youth Engagement programmes, and partnerships, ensuring our impact remains rooted in furthering the betterment of our Ocean.

Even in the face of overwhelming eco-anxiety, our editorial voice remains hopeful. Every piece of content, resource and article we produce is backed by science and aims to spark understanding, agency, and action, prompting our community to return to the most fundamental question, “What can I do?”

In 2025, we will continue to explore the Ocean, through Science topics: Galapagos, Rivers and Estuaries, Coral Reefs and Kelp Forests. Nine years on from A Plastic Ocean , we are also Revisiting Plastics to refresh our understanding of the Ocean threat Ocean Generation is born from.

4. YOUTH ENGAGEMENT

Our Youth Engagement programmes aim to spark a lasting connection between young people and the Ocean by encouraging Ocean positivity and enabling practical Ocean action in a world where environmental messaging can often feel overwhelming. For many, it is difficult to identify where they can make a difference; that’s where we come in.

Education Gap

There is a clear education gap: 94% of young people in our Wavemaker workshops reported they had never participated in a workshop about the Ocean before.

In a survey of 1,300 UK primary and secondary school teachers, 86% said they wanted to support young people with Ocean education yet 53% felt unequipped to do so, and 60% believed the Ocean had insufficient attention in the curriculum.

With 42% of the global population under the age of 25, our Youth Engagement work sits at the core of Ocean Generation. We believe the world’s youth are a pivotal driver of positive change towards the environment. By amplifying their voices, instilling hope and empowering action, we’re laying the groundwork for a sustainable future.

In 2024, we continued to grow and deliver our three core programmes tailored to different age groups between 3 – 25 years-old. We introduce very young children to the wonders of the Ocean with Earth Cubs, equip school-aged children with knowledge and tools for change through Ocean Academy, and empower young adults to drive Ocean action in their communities and careers through Wavemakers.

Science Pillars

Our Youth Engagement programmes are built on the same four science-based pillars and tailored for each age group:

Our Ocean : Big, blue and so much more, Our Ocean is bursting with life and colour. No matter how far we live from it, the Ocean is keeping us alive. We introduce its wonders and the vital role it plays supporting all life on our blue planet.

Ocean, not Oceans : Everything we eat, drink, and breathe comes from and goes back to water in our Ocean. And there is only one Ocean. We present water as a single, interconnected life support system and demonstrate why restoring its health is important to all of us.

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OCEAN GENERATION

Directors’ Report for the year ended 31 March 2025 (continued)

Our Impact : We break down and explore the biggest human-made threats our Ocean faces. Climate Change, Pollution, Coastal Infrastructure, Resource Extraction, and Daily Ocean Use.

Our Future : Our final pillar is a call to action. The Ocean is a solution to some of the world’s biggest problems. With the right support, it maintains itself and all its dependants, including us. We empower practical, positive Ocean action.

The 3 Youth Engagement Programmes

Earth Cubs: 3-11 years old

A gamified digital platform that makes learning about the Ocean exciting and accessible for young children. Since the launch of our partnership on World Ocean Day 2022, we have developed four Ocean environments: Tahiti, Great Barrier Reef, Galapagos and the Arctic. These are supported by free lesson plans, games and videos – backed by our Science. In 2024, our impact from Earth Cubs was:

Ocean Academy: 5-16 years old.

Our longest-standing Youth Engagement programme, Ocean Academy, brings Ocean education into schools, youth clubs, festivals and museums. We combine in-person workshops with digital resources for teachers, students and parents all of which are aligned with school curriculums and core UN frameworks.

Ocean Academy is our longest standing programme. Through it, we bring the Ocean to children of school age. With thought-provoking content and practical solutions, we deliver in-person workshops in schools, museums, youth clubs and festivals supported by our digital learning hub of curriculum-aligned, practical Ocean education materials for parents and educators.

Workshops explore Ocean interconnectedness, explain key human made Ocean threats and inspire practical solutions through hands-on, thought-provoking content that meets learners where they are.

In 2024, we delivered workshops to 9,405 school children whilst engaging 2,310 parents and educators. We also reached a further 66,681 children via our digital Ocean Academy resources, bringing our 2024 total to a recordbreaking 78,396 engagements.

In 2025, recognising the need for accessible, Ocean resources for educators, we will be renovating our resource hub; ensuring a smoother user-experience and more in-depth lesson plans and activities.

Wavemakers: 16-25 years old.

Wavemakers empowers young adults to make positive change for our blue planet. Through our flagship workshops, masterclasses, mentorship, and skills development resources, Wavemakers accelerates social action, incubates innovation and facilitates young people to bring Ocean action to any career path, beyond traditional Blue and Green career routes.

In June 2024, we launched Wavemaker Digital , a self-paced e-learning platform that enables young people to engage with Ocean education courses at their own pace. 1.4k young people enrolled in Wavemaker Digital in 2024.

In August 2024, we launched the Ocean Conversation Pack , which enables individuals to develop facilitation and project management skills through organising their local communities to take action on Ocean threats. Through young people leading their own Ocean Conversation events, 1.1k people took part in discussions around how they can help protect our Ocean.

In 2024, we introduced a deeper, project-based model ( Live Briefs ) which moves beyond singular workshop delivery and invites young people to solve real-world Ocean challenges related to their interests and areas of study, increasing engagement across an entire academic term.

In 2024, Wavemakers reached 23k young adults and 467 over 25 yr olds through a mixture of Wavemaker workshops (86 workshops in total), panel discussions, guest slots on podcasts, careers fairs and via our digital platforms.

Our delivery partners ranged from universities, youth and community groups, businesses, the Global Scouting JOTAJOTI Jamboree, other environmental charities, and even stretched further internationally, delivering workshops in Amsterdam and building digital partnerships with schools in the Philippines.

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OCEAN GENERATION Directors’ Report for the year ended 31 March 2025 (continued)

5. COMMUNICATIONS

We recognise that when people connect with the Ocean and understand its importance, they want to protect it. We bridge the gap between marine science and the public. Through storytelling and pop-culture, we make understanding Ocean life, ecosystems and our impacts on our blue planet impossible to overlook.

In 2024, we reached the hearts and minds of millions of people through our Communications. We aim to enhance Ocean literacy and shift the Ocean from being seen as a distant, abstract concept to something life-giving, personal and interconnected with everyday life.

Impact is always our aim. Scroll-stopping content is our method. Science is our non-negotiable.

Ocean Literacy Focus

We continued to refine our unique voice — one that sparks curiosity, explains marine science simply, and fosters a deep sense of connection with the Ocean. Rather than leaning into doom and gloom, we lead with wonder.

In 2024, we launched “The Ocean Explained”, a year-long initiative designed to reintroduce people to the Ocean and answer common - and uncommon - questions about its vital role on our planet. From coastlines to the polar regions, we broke down complex topics through digestible, dynamic content – all grounded in science.

Social Media: everyday ocean education

Using our distinctive brand of scroll-stopping storytelling, we made marine science relevant, relatable, and shareable for our global audience.

Key 2024 highlights

Viral and Impactful Moments

Our proudest achievements are not the viral hits — it is the meaningful conversations sparked, minds changed, and everyday actions taken by our growing global community.

Newsletters: building a knowledgeable community

In 2024, our newsletters continue to be a go-to Ocean resource for our community, offering digestible Science updates, information about our Youth Engagement offering, and educational content.

Website: deep dives

Our website remains a central hub for Ocean science and storytelling.

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OCEAN GENERATION

Directors’ Report for the year ended 31 March 2025 (continued)

Each article aligns with our Science topics, allowing readers to go beyond headlines and deepen their understanding of Ocean ecosystems, challenges and solutions.

Brand Partnerships: shared values, shared impact

We collaborate with like-minded consumer brands to amplify Ocean education through lifestyle-aligned campaigns. Every brand activation weaves in storytelling and science, showing how individual choices can support a healthier Ocean.

Thought Leadership & Speaking Engagements

In 2024, we continued to take our message across the world:

We used these platforms to challenge outdated narratives, champion Ocean-positive solutions, and offer accessible science education.

In 2024, we didn’t just communicate about the Ocean; we connected people to it.

Our work continues to shift perceptions, challenge misinformation and foster care through awe, education and action. With every post, article, newsletter and street-side chat, we’re building an Ocean-literate generation ready to protect what they love. Because when you know the Ocean, you care about it. And when you care, you act.

6. FILM MAKING

Storytelling, through film, is where Ocean Generation began.

Our original documentary, A Plastic Ocean became one of the most watched documentaries on Netflix, during its five years of distribution. It remains a powerful totem of the global movement against plastic pollution and continues to spark Ocean conversations worldwide.

In 2024, we took steps toward our next major film project, currently in development under the working title, Voices from the Blue .

7. STAFFING AND WAY OF WORKING

Throughout 2024, we continued to grow and adapt our team to meet the evolving needs of Ocean Generation. We began the year with 11 full-time employees and expanded our capacity by hiring a part-time Youth Engagement Administration Officer, bringing our total staffing to 11.5 full-time equivalent (FTE) roles.

Our Youth Engagement team grew to 3.5 FTE, with the addition of the part-time administrative role and a new Youth Engagement Officer, who joined following the departure of a team member. In our Marine Science team, we welcomed a new Marine Science Officer to replace a departing colleague. Our Communications and Fundraising team remained steady with two team members. Elsewhere, we continued to be supported by a Marine Science Officer, our Founder, our CEO, and a Business Operations Executive.

A key organisational milestone in 2024 was a leadership transition, as we said farewell to our former CEO, Richard Hill, and warmly welcomed Dr Victoria Edwards into the role. We are indebted to Richard for his impactful leadership.

We continue our partnerships with Oxford University’s Crankstart Internship Programme and the London School of Economics’ Internship Programme, and we were delighted to host six interns across the Easter and Summer break periods. Three interns supported our Marine Science work and three contributed to Youth Engagement. The internships provide valuable development opportunities for students while boosting our capacity during peak delivery periods.

A major staffing highlight of the year was the successful onboarding of 15 new freelance Youth Engagement professionals, strengthening our reach and programming. This cohort included:

These freelance roles have significantly increased our ability to scale delivery, engage more young people, and run dynamic, high-impact programmes across diverse communities and platforms.

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OCEAN GENERATION Directors’ Report for the year ended 31 March 2025 (continued)

At governance level, we welcomed two new Trustees, bringing our Board to a total of five. Their skills and insights are instrumental as we continue to grow our impact and navigate the next phase of our development.

Ocean Generation remains committed to a virtual-first working model, optimising the use of digital collaboration tools to work efficiently and minimise overheads. We continue to embrace flexible working, supporting staff productivity and wellbeing. This hybrid approach is embedded across our operations, from Youth Engagement delivery to Communications, blending in-person activity with digital outreach to maximise both reach and relevance.

8. OUTLOOK

We are just over four years into the UN Ocean Decade and our results speak for themselves. So far, we have reached over 45.3 million people in our work and engaged over 13 million people in Ocean education and Ocean action.

As we pass the middle phase of the Ocean Decade, we seek to continue to grow our impact through a balance of inperson and digital activities. The key to increasing our impact is our ability to scale our programmes, giving us broader coverage of in-person activities supported by a strong digital offer.

We have an increasingly strong portfolio of Ocean Literacy programmes, supported by highly engaging communication of Ocean science. However, we recognise the need to constantly increase our impact, by reaching even more people and by inspiring more action. We are conducting research and analysis on more difficult to reach stakeholders and building relationships with partners who can help us to deliver our Ocean engagement programmes in specific communities. This provides an attractive funding proposition for potential partners, both commercial and nonprofit.

Our new international partnerships provide an excellent opportunity to reach young people across the globe and we are particularly pleased to be able to test the efficacy of our work in different cultural settings

By positively engaging this generation through Ocean science and Ocean storytelling, we believe that together we can start to restore the Ocean and our relationship with it.

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OCEAN GENERATION Directors’ Report for the year ended 31 March 2025 (continued)

B. Financial Performance

Income

Total Income for the year ending 31 March 2025 reached £750,147, an increase of over 43% on the previous year. The largest source of funding once again came from Business partners who contributed just under 47% of total income, followed by Trusts and Foundations which accounted for 28%. The balance of income was made up predominantly by Public Donations and Speaking Events, with a small amount of interest income, and from our new source of funding, government and state funding, from our partnership in Oman.

We would like to take this opportunity to thank each partner of Ocean Generation whose kind financial support and active encouragement continues to enable us to make such an important contribution to the health of our Ocean.

Deployment of Expenses

The strong level of retained funds carried over from the 2022/23 year enabled us to once again grow our investment towards our charitable goals. Overall expenditure grew to £604,188, an increase of 4.6%. Of overall expenditure, a little over 65% was directly invested in Education, Outreach and Science activities and just over 20% to support our Fundraising and Partnership activity, as we seek to grow our fundraising capacity into the future and accelerate our charitable impact. All other expenditure in support activities such as IT, Legal and Professional fees and Operational support were contained to just under 14% in what has been a highly inflationary environment.

Cash

Total Group cash held on 31 March 2025 was £97,234, representing only 7 weeks forward cash reserve for the beginning of the 2025/26 year. This level of cash holding is considered low and outside the targeted range by the Board. However, with careful attention to the income pipeline, the Board is satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future. Cash flow remains a carefully monitored item on the Board agenda and the strategies for both increasing and diversifying income have been put in place The 12 week reserve has been met or exceeded each month so far in the current financial year.

C. Going concern

After making appropriate enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

D. Principal risks and uncertainties

The Directors have assessed the major risks to which the Charity is exposed. The risks considered include payment of fictitious or otherwise fraudulent claims and the mismanagement of the funds available to the Company.

The Directors are satisfied that systems are in place to manage these risks.

E. Management of Reserves

All funds are held in the Company's bank accounts with either Barclays Bank Plc or HSBC UK Bank Plc. None of the Company’s funds are invested elsewhere. The Company operates under a reserves policy set by the Board of Trustees and reviewed annually. The reserves policy requires the Company to hold cash reserves equivalent to the minimum of twelve weeks’ planned expenditure to cover costs in the event of the winding up of the Company.

This reserve has been tested during the 2024/25 year when based on anticipated incoming cash flows the Trustees exercised their discretion to continue operating. A strict system of regular cash-flow reporting has been in place since the beginning of the 2021/22 year, with weekly projections of forward cash cover maintained at all times. The performance against the statutory Board Cash Reserve has been reported each month without a breach until this financial year. In the 2024/25 financial year the average level of Board Cash Reserve has been 14 weeks, 2 weeks greater than the 12 week Board Reserve trigger, but Board Cash Reserve was breached three times, in November 2024 and again in February and March 2025. As the charity grows in scale, it is practical to expect the level of Board Cash Reserve relative to the planned expenditure to reduce slightly to ensure funds received are deployed appropriately towards the Objects of Ocean Generation.

F. Structure, Governance and Management

The principal Objects of Ocean Generation are to raise awareness of the human-made threats to the Ocean and to support solutions aimed at reducing the level and impact of those threats on the Ocean environment. The mission is to free the Ocean from human threats within a generation.

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OCEAN GENERATION

Directors’ Report for the year ended 31 March 2025 (continued)

The management of the Company is the responsibility of the Trustees who are appointed in accordance with the Articles of Association. No member of the Board receives any remuneration for their services as a Director. The Board also has regular contact with the Management Team to offer advice and assistance.

Regular Trustee meetings were held and minuted during the 2024/25 year to review the progress of projects as well as the organisation's policies and procedures.

A register is maintained of any conflicts of interest, details of which are included in Note 10.

This report was approved by the Board and authorised for issue on 22 July 2025.

Philip Scales Director

Dated 24 July 2025

12

OCEAN GENERATION Independent Examiner’s Report for the year ended 31 March 2025

I hereby report on the accounts of Ocean Generation for the year ended 31 March 2025 which are set out in the attached pages 14 to 22.

Respective responsibilities of management committee and examiner

The trustees are responsible for the preparation of the accounts for the charity in accordance with the requirements of the Charities Act 2011 (“the Act”). The directors consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is appropriate.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out taking into consideration general guidance given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the accounts.

Independent examiner's statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ACCA.

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

24 July 2025

Keith Lee Astin (FCCA) Astin Accounts Solutions Limited Ground Floor, 14 Peel Road Douglas Isle of Man IM1 4LR

13

OCEAN GENERATION Consolidated Statement of Financial Activities for the year ended 31 March 2025

Notes
INCOME FROM:
Donations, grants and licensing fee income
3
Interest received
Revenue
TOTAL INCOME
EXPENDITURE ON:
Education & Outreach
Funding & Partnerships
Science
Legal & Professional
IT
All Other Administration
(Gain) from sale of fixed asset
TOTAL EXPENDITURE
Surplus/(Deficit) for year
SURPLUS/(DEFICIT) TRANSFERRED TO THE GENERAL FUND
RECONCILIATION OF FUNDS:
Total funds brought forward
Surplus/(Deficit) transferred to the General Fund
TOTAL FUNDS CARRIED FORWARD		 2025
GBP
Unrestricted
funds
701,389
3,636
122
705,147
346,529
127,074
47,629
23,990
8,539
50,577
(150)
604,188
100,959
100,959
152,066
100,959
253,025		 2024
GBP
Total
488,381
3,685
444
492,510
332,940
108,504
50,089
23,956
8,799
53,295
-
577,583
(85,073)
(85,073)
237,139
(85,073)
152,066

The Group has no recognised gains or losses other than those disclosed above.

All the activities are classed as continuing.

The accompanying notes on pages 18 – 22 form an integral part of the Consolidated Financial Statements.

14

OCEAN GENERATION Consolidated Balance Sheet as at 31 March 2025

Notes 2025 2024
GBP GBP
NON-CURRENT ASSETS
Tangible fixed assets 5 1,884 3,938
Trade and other receivables: amounts falling due after one year 6 1,900 1,900
TOTAL NON-CURRENT ASSETS 3,784 5,838
CURRENT ASSETS
Trade and other receivables: amounts falling due within one year 6 182,115 8,398
Cash and cash equivalents 7 97,234 162,972
TOTAL CURRENT ASSETS 279,349 171,370
LESS CURRENT LIABILITIES
Trade and other payables: amounts falling due within one year 8 (30,108) (22,688)
NET CURRENT ASSETS 249,241 148,682
TOTAL ASSETS LESS CURRENT LIABILITIES 253,025 154,520
LONG TERM LIABILITIES
Trade and other payables: amounts falling due after one year 8 - (2,454)
NET ASSETS 253,025 152,066
FUNDS OF THE CHARITY
Unrestricted funds:
General Fund 253,025 152,066
Restricted funds - -
TOTAL FUNDS 253,025 152,066

The accompanying notes on pages 18 - 22 form an integral part of the Consolidated Financial Statements.

For the year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Philip Scales Director 24 July 2025

15

OCEAN GENERATION Company Balance Sheet as at 31 March 2025

Notes 2025 2024
GBP GBP
NON-CURRENT ASSETS
Tangible fixed assets 5 1,884 3,938
Investment in subsidiary 11 1 1
Trade and other receivables: amounts falling due after one year 6 1,900 1,900
TOTAL NON-CURRENT ASSETS 3,785 5,839
CURRENT ASSETS
Trade and other receivables: amounts falling due within one year 6 182,115 8,398
Cash and cash equivalents 7 96,875 162,323
TOTAL CURRENT ASSETS 278,990 170,721
LESS CURRENT LIABILITIES
Trade and other payables: Amounts falling due within one year 8,11 (30,109) (22,688)
Intercompany creditor 11 (23,016) (9,624)
NET CURRENT ASSETS 225,865 138,409
TOTAL ASSETS LESS CURRENT LIABILITIES 229,650 144,248
LONG TERM LIABILITIES
Trade and other payables: amounts falling due after one year 8 - (2,454)
NET ASSETS 229,650 141,794
FUNDS OF THE CHARITY
Unrestricted funds:
General Fund 229,650 141,794
Restricted funds - -
TOTAL FUNDS 229,650 141,794

The accompanying notes on pages 18 - 22 form an integral part of the Consolidated Financial Statements.

For the year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the Company to obtain an audit of its Consolidated Financial Statements for the year in question in accordance with section 476.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Consolidated Financial Statements.

These Consolidated Financial Statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The Consolidated Financial Statements were approved by the Board and authorised for issue on 24 July 2025.

Philip Scales Director

16

OCEAN GENERATION

Consolidated Statement of Cash Flows for the year ended 31 March 2025

Notes
Surplus/(Deficit) for the year
Finance Lease interest paid
Rent on lease hire
Interest received
Adjustment for Depreciation
5
Decrease/(increase) in other debtors
6
Increase/(decrease) in creditors
8
(Gain) on sale of fixed asset
Net cash outflow from operating activities
Finance lease payment made
Increase in hire purchase loan payable
Lease modification
Proceeds from sale of fixed asset
Net cash outflow from financing activities
Interest received
Net cash from investing activities
Decrease in cash at bank
Cash in bank at the start of the year
Cash at bank at 31 March		 2025
GBP
100,959
984
1,891
(3,636)
2,054
(173,717)
4,966
(150)
(66,649)
(2,875)
-
-
150
(2,725)
3,636
3,636
(65,738)
162,972
97,234		 2024
GBP
(85,073)
1,319
-
(3,685)
1,998
7,587
(34,825)
-
(112,679)
(2,640)
2,454
(267)
-
(453)
-
-
(113,132)
276,104
162,972

The accompanying notes on pages 18 - 22 form an integral part of the Consolidated Financial Statements.

17

OCEAN GENERATION

Notes to the Financial Statements for the year ended 31 March 2025

1. General information

Ocean Generation (the “Company” or “Parent”) is a company incorporated by limited guarantee on 1 July 2009 with company number 06949511. The Company registered as a charity on 14 January 2011 with charity number 1139843.

On 23 September 2020 a wholly owned private limited company was incorporated named Ocean Generation Limited (note 11). On 16 February 2021 its name changed to Ocean Generation Impact Limited. The Company and its subsidiary collectively are defined as the “Group”.

2. Accounting Policies

Basis of Accounting

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 – October 2019)(effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The consolidated financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The Group accounts incorporate the financial statements of the Company and its subsidiary Ocean Generation Impact Limited (“the Subsidiary”) on a line by line basis. The Subsidiary has a coterminous yearend to the Company.

The Company has taken advantage of the exemption from the requirement to present its own profit and loss in these consolidated accounts.

The Group constitutes a public benefit entity as defined by FRS102.

The Trustees have reasonable expectation that the Group has adequate resources and cash flows to meet spending commitments for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in preparing the annual report and accounts.

Recognition of income

These are included in the Consolidated Statement of Financial Activities (“SoFA”) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and Donations

Grants, including government grants, and donations are only included in the SoFA when the general income recognition criteria are met. In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met it is probable that the income will be received and the amount can be measured reliably and is not deferred.

18

OCEAN GENERATION

Notes to the Financial Statements for the year ended 31 March 2025 (continued)

Grants and Donations (continued)

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Recognition of expense

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and includes irrecoverable VAT.

The value of any voluntary help received is not included in the accounts but is described in the Directors’ Report.

Foreign currencies

The Financial Statements of the Group are presented in the currency of the primary economic environment in which the Group operates (its ‘functional currency’). The Directors have considered the currency in which the original capital was raised, distributions will be made and ultimately the currency in which capital would be returned in a liquidation. On balance, the Directors believe that Pounds Sterling best represents the functional currency of the Group. For the purpose of the Financial Statements, the results and financial position of the Group are expressed in Pounds Sterling, which is the presentational currency of the Group.

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Financial Activities.

Cash and cash equivalents

Cash comprises cash in hand and deemed deposits. Cash equivalents are short-term, highly liquid investments with original maturities of three months or less and bank overdrafts that can be withdrawn at any time without penalty.

Trade and other payables

Trade payables are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities.

Trade and other receivables

Trade and other receivables are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any trade discounts due.

Financial instruments

The Financial Assets and Financial Liabilities of the Group qualifies as a basic financial instrument. These are initially recognised at transaction value and subsequently measured at their settlement value except for finance lease which are subsequently measured at amortised cost using the effective interest method.

Fixed Assets

Fixed assets above £500 are capitalised and are carried at cost less depreciation and accumulated impairment losses. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as separate items of tangible fixed assets. The Group assesses at each reporting date whether tangible fixed assets are impaired.

19

OCEAN GENERATION

Notes to the Financial Statements for the year ended 31 March 2025 (continued)

Fixed Assets (continued)

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less the estimated residual value of each asset, on a straight-line basis, over their expected useful lives as follows. For Computer/IT equipment and software – this is 3 years. Any leased assets will be depreciated in accordance with the accounting policy below. Software under development will commence depreciation once the software is available for use. Prior to commencement of depreciation, expenditure will be capitalised but not depreciated. Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the Group expects to consume an asset’s future economic benefits.

Leased Assets

Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease.

Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.

Fund accounting

The Company’s General Funds consists of funds which the Company may use for its charitable purposes at its discretion. The Company has designated certain funds for specific purposes, there is no legal force for the designations. Restricted Funds may be used in accordance with specific instructions imposed by donors, or which have been raised by the Company for particular purposes.

Taxation

Taxation expense for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. Current and deferred taxation assets and liabilities are not discounted.

Taxation relief is received on qualifying donations.

3. Donations, grants and licensing fee income

Donations and licensing fee income
4. Staff Remuneration and costs
Wages and salaries
Employer’s NI
Employer’s pension costs
Recruitment and other costs		 2025
GBP
701,389
701,389
2025
GBP
416,536
37,513
9,991
740
464,780		 2024
GBP
488,381
488,381
2024
GBP
388,624
39,575
8,214
-
436,413

One staff member was paid over £60,000 during the year (2024 – £60,000). The total amount paid to Key Management Personnel was £62,000 (2024: £61,000).

The Company employed 12 staff as at 31 March 2025 (2024: 11 staff).

20

OCEAN GENERATION

Notes to the Financial Statements for the year ended 31 March 2025 (continued)

5. Tangible Fixed assets – Group and Parent

5. Tangible Fixed assets – Group and Parent
Computer/IT equipment
Cost brought forward
Additions
Lease modification
Disposals
Cost as at 31 March
Accumulated depreciation brought forward
Lease modification
Depreciation charge
Depreciation on disposal
Accumulated depreciation as at 31 March
Net Book Value as at 31 March		 2025
GBP
14,762
-
-
(1,970)
12,792
10,824
-
2,054
(1,970)
10,908
1,884		 2024
GBP
11,403
5,933
(2,574)
-
14,762
10,740
(2,486)
2,570
-
10,824
3,938

The net book value of assets held under finance lease included within Computer/IT equipment is £1,884 (2024: £3,938).

6. Trade and other receivables - Group and Parent

6. Trade and other receivables - Group and Parent
Receivables
Prepayments
Trade and other receivables: amounts falling due within one year
Rental deposit
Trade and other receivables: amounts falling due after one year
7. Cash and cash equivalents
Parent only
Cash at bank
Group
Cash at bank
8. Trade and other payables - Group and Parent
Trade payables
Accruals
Finance Lease (note 9)
Trade and other payables: amounts falling due within one year		 2025
GBP
182,115
-
182,115
2025
GBP
1,900
1,900
2025
GBP
96,875
2025
GBP
97,234
2025
GBP
9,014
18,640
2,455
30,109		 2024
GBP
5,978
2,420
8,398
2024
GBP
1,900
1,900
2024
GBP
162,323
2024
GBP
162,972
2024
GBP
6,462
14,335
1,891
22,688

21

OCEAN GENERATION

Notes to the Financial Statements for the year ended 31 March 2025 (continued)

Trade and other payables – Group and Parent (continued)

Finance Lease (note 9)
Trade and other payables: amounts falling due after one year		 2025
GBP
-
-		 2024
GBP
2,454
2,454

9. Finance Lease – Group and Parent

Future minimum lease payments are as follows:

9. Finance Lease – Group and Parent
Future minimum lease payments are as follows:
Not later than one year
Later than one year and not later than five years
Total gross payment
Finance charges
Total liability		 2025
GBP
2,843
-
2,843
(371)
2,472		 2024
GBP
2,875
2,843
5,718
(1,243)
4,475

10. Related Party Transactions

During the year, FIM Capital Limited a company of which Philip Scales is a Director and Shareholder provided accounting services to the Company, total paid as per the new accounting services agreement for the year ended 31 March 2025 was £20,068 (31 March 2024: £20,033).

From time to time, Acre Resources Limited, of which Andrew Cartland is a Director and Shareholder provided recruitment services to the company on a pro bono basis and kindly promoted the work of Ocean Generation to their own professional network.

11. Investment in subsidiary

On 23 September 2020, a wholly owned private limited company was incorporated named Ocean Generation Limited (Company number 12899068). On 16 February 2021 its name changed to Ocean Generation Impact Limited (the “subsidiary”). The subsidiary has issued one ordinary share of £1.00 to the Parent, which remains unpaid as at 31 March 2025.

The subsidiary was created to facilitate the operation of corporate partnerships.

During the financial year the subsidiary charged the Company £13,393 (2024: £9,230) in relation to commercial participator fees. £23,437 (2024: £10,044) remained payable to the subsidiary at the year end.

During the financial year the subsidiary donated £13,103 (2024: £742) to the Company in the form of Gift Aid. £23,795 is payable to the Company at the year-end (2024: £2,615).

12. Events after the end of the reporting period

A significant donation of US$200k towards production of the charity’s next film has been pledged by an individual American citizen and resident. All due diligence checks have been made and the donation has been formally accepted. We are awaiting the final stages of setting up a foreign currency account with our bankers in the UK, HSBC, before the donation is transferred. Once the account is operating, the donation will be transferred and duly converted to sterling at an optimum time, according to exchange rates and demands on expenditure.

22