##
||||Page|
|---|---|---|---|
|Reference and Administrative||Details ofthe Charity, its Trustees and Advisers||
|Trustees' Report||||
|Independent
Auditors'|Report|on the Financial Statements|19-22|
|Statement of Financial|Activities||23-24|
|Balance Sheet|||25|
|Statement ofCash Flows|||26|
|Notes to the Financial|Statements||27-48|
##
|Trustees|||Dr Gill Rider, President|Dr Gill Rider, President||
|---|---|---|---|---|---|
||||Dr Jen Ashworth|||
||||Professor|Mark Bailey (elected 23 November 2021)||
||||Professor|Chris Frid (resigned|23 November 2021)|
||||Professor|Patrick M Holligan|(resigned 23 November 2021)|
||||Professor|Heather
Koldewey||
||||Professor|Dan Laffoley||
||||Professor|John A Raven||
||||Professor|Ros Rickaby||
||||Professor|Stuart Rogers||
||||Professor|Alison G Smith||
||||Professor|Michael JWhitaker||
|Trustees|(co-opted)||Mr Robert Mills (Treasurer -elected annually)
Mr Richard Coombs|||
||||Professor|Paul JB Hart||
||||Professor|Judith Petts||
|Company|registered|||||
|number|||RC000865|||
|Charity registered||||||
|number|||1155893|||
|Registered||office|The Laboratory|||
||||Citadel
Hill|||
||||Plymouth|||
||||PL1 2PB|||
|Secretary|and Director||Professor|William Wilson||
|Treasurer|||Mr Robert|Mills (elected annually)||
|Independent||auditors|Bishop Fleming
LLP|||
||||Chartered|Accountants||
||||Salt Quay|House||
||||4 North East Quay|||
||||Sutton Harbour|||
||||Plymouth|||
||||PL4 OBN|||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|
||||Note|2022|2022
f|2022|2022
K|2021|
|Income and|||||||||
|endowments|from:||||||||
|Donations
and|legacies|||11,677|8,541||20,218|165,973|
|Charitable
activities||||2,720,676|1,664,263||4,384,939|4,655,341|
|Other trading
activities||||50,750|||50,750|48,308|
|Investments||||629,346|||629,346|328,745|
|Total income|and||||||||
|endowments||||3,412,449|1,672,804||5,085,253|5,198,367|
|Expenditure
on:|||||||||
|Raising funds||||28,984|||28,984|65,364|
|Charitable
activities||||2,733,590|3,094,919||5,828,509|5,564,353|
|Other expenditure||||158,307|||158,307||
|Total expenditure||||2,920,881|3,094,919||6,015,800|5,629,717|
|Net income/|||||||||
|(expenditure)|before||||||||
|net gains/(losses)|||||||||
|on investments||||491,568|(1,422,115)||(930,547)|(431,350)|
|Net gains on|||||||||
|investments||||842,042|123,729|13,381|979,152|2,305,214|
|Net income/|||||||||
|(expenditure)||||1,333,610|(1,298,386)|13,381|48,605|1,873,664|
|Transfers
between|||||||||
|funds|||22|(1,050,973)|1,050,973||||
|Net movement|in||||||||
|funds before|other||||||||
|recognised
gains||||282,637|(247,413)|13,381|48,605|1,873,864|
|Other recognised|||||||||
|gains:|||||||||
|Gains on revaluation||of|||||||
|assets||||38,810|||38,810|208,665|
|Net movement|in||||||||
|funds||||321,447|(247,413)|13,381|87,415|2,062,729|
##
|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|funds|funds|
|||2022|2022|2022|2022|2021|
||||||F|E|
|Reconciliation|of||||||
|funds:|||||||
|Total funds brought|||||||
|forward||16,081,488|4,788,807|260,940|21,131,235|19,048,506|
|Net movement|in funds|321,447|(247,413)|13,381|87,415|2,082,729|
|Total funds carried|||||||
|forward||16,402,935|4,541,394|274,321|21,218,650|21,131,235|
##
|||||2022||2021|
|---|---|---|---|---|---|---|
|||Note||||E|
|Fixed assets|||||||
|Tangible assets||15||2,595,551||2,546,896|
|Heritage assets||16||1,315,475||1,276,665|
|Investments||17||17,088,698||16637,483|
|||||20,999,724||20,461,044|
|Current assets|||||||
|Stocks||18|79,044||63,710||
|Debtors||19|1,023,818||1,636,284||
|Cash at bank and|in hand||2,315,965||2,140,645||
||||3,418,827||3,840,639||
|Creditors: amounts|falling due within one||||||
|year||20|(2,494,315)||(2,674,483)||
|Net current assets||||924,512||1,166,156|
|Total assets less|current liabilities|||21,924,236||21,627,200|
|Creditors: amounts|falling due after more||||||
|than one year||21||(705,586)||(495,965)|
|Total net assets||||21,218,650||21,131,235|
|Charity funds|||||||
|Endowment
funds||22||274,321||260,940|
|Restricted funds||22||4,541,394||4,788,807|
|Unrestricted
funds||22||16,402,935||16,081,488|
|Totalfunds||||21,218,650||21,131,235|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||||E|
|Cash flows from operating||activities|||||
|Net cash used
in operating|activities||||(440,905)|778,28'I|
|Cash flows from investing||activities|||||
|Dividends,
interest and rents||from investments|||629,346|328,745|
|Drawdown
from investment||porffolio|||995,000|113,403|
|Purchase oftangible
fixed assets|||||(541,058)|(556,940)|
|Purchase of investments|||||(467,063)|(296,756)|
|Net cash provided
by/(used||in) investing||activities|616,225|(411,548)|
|Change
in cash and cash|equivalents||in|the year|175,320|366,733|
|Cash and cash equivalents|at the beginning|||ofthe year|2,140,645|1,773,912|
|Cash and cash equivalents||at the end of||the year|2,315,965|2,140,645|
|The notes on pages 27to 48 form part ofthese financial statements|||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022
f|2022
f|2022f|2021f|
|Research activities|||1,973,084|1,664,263|3,637,347|3,838,246|
|Other knowledge|exchange|activities|530,570||530,570|564,886|
|Courses and workshops|||20,126||20,126|5,031|
|Journals|||196,896||196,896|247,178|
||||2,720,676|1,664,263|4,384,939|4,655,341|
|TOTAL 2021|||2,629,324|2,026,017|4,655,341||
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022f|2022f|2021f|
|Membership|subscriptions|50,750|50,750|48,308|
|TOTAL 2021||48,308|48,308||
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022f|2022f|2021f|
|Dividends|received|629,229|629,229|328,453|
|Bank deposit interest||117|117|292|
|||629,346|629,346|328,745|
|TOTAL 2021||328,745|328,745||
##
||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2022f|2022f|2021f|
|Loss|on|disposal|offixed|assets|158,307|158,307||
##
##
|||Activities||||
|---|---|---|---|---|---|
|||undertaken|Support|Total|Total|
|||directly|costs|funds|funds|
|||2022f|2022f|2022f|2021|
|Research activities||3,283,102|1,694,674|4,977,776|4,703,581|
|Other Knowledge|Exchange activities|628,363|173,539|801,902|817,762|
|Courses and workshops||26,347||26,347|27,171|
|Journals||12,904|9,580|22,484|15,839|
|||3,950,716|1,877,793|5,828,509|5,564,353|
|TOTAL 2021||4,000,108|1,564,245|5,564,353||
##
|||Other|Courses||||
|---|---|---|---|---|---|---|
||Research|knowledge|and||Total|Total|
||activities|exchange|workshops|Journals|funds|funds|
||2022
f|2022
f|2022
f|2022f|2022f|2021f|
|Staff costs|2,018,486|452,767|||2,471,253|2,400,839|
|Depreciation|334,097||||334,097|499,064|
|Other direct costs|930,519|175,596|26,347|12,904|1,145,366|1,100,205|
||3,283,102|628,363|26,347|12,904|3,950,716|4,000,108|
|TOTAL 2021|3,297,492|667,562|24,831|10,223|4,000,108||
##
##
##
|Support costs|||
|---|---|---|
||2022f|2021
F|
|Rent and rates|234,209|220,895|
|Repairs and maintenance|89,878|94,484|
|ITcosts|96,403|82,717|
|Travel and staff costs|8,554|2,972|
|Office costs|47,350|45,996|
|Insurance|31,192|30,516|
|Legal and professional|18,672|15,825|
|Subscriptions
and grant costs|74,058|52,847|
|Bank charges|21,787|2,591|
|Irrecoverable
VAT|107,792|83,156|
|Pension interest|17,120|12,854|
|Staff costs|994,100|909,401|
|Exchange rate variances|66,562|(44,559)|
|Support costs - Governance|62,813|54,885|
||1,870,490|1,564,580|
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022
K|2022f|2021
E|
|Auditors'|remuneration|10,350|10,350|10,350|
|Wages|and salaries|52,362|52,362|44,535|
|||62,712|62,712|54,885|
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||E|
|Depreciation||oftangible|fixed assets|||
|-owned|by|the charitable
company||335,276|499,064|
|Auditors'|remuneration||- audit|10,350|10,350|
|Auditors'|remuneration||-other services|5,235|6,300|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||E|
|Wages and|salaries|||2,786,663|2,942,869|
|Social security costs||||212,329|227,397|
|Contiibution|to defined|contribution|pension schemes|518,723|184,509|
|||||3,517,715|3,354,775|
||||2022|2021|
|---|---|---|---|---|
||||No.|No.|
|Cost ofgenerating||funds|2|2|
|Charitable|activities||92|83|
|Governance|||2|2|
||||96|87|
|2022|2021|
|---|---|
|No.|No.|
##
##
##
||||Research|||
|---|---|---|---|---|---|
||Long-term||and|||
||leasehold|Plant and|laboratory|Research||
||property|machinery|equipment|vessel|Total|
||R|||||
|COST OR VALUATION||||||
|At 1 April 2021|1,358,644|264,277|2,438,721|366,872|4,428,514|
|Additions|370,160|80,519|85,966|4,413|541,058|
|Disposals||(71,467)|(559,938)||(631,405)|
|At 31 March 2022|1,728,804|273,329|1,964,749|371,285|4,338,167|
|DEPRECIATION||||||
|At 1 Apdl 2021|202,782|150,880|1,388,799|139,157|1,881,618|
|Charge for the year|61,673|39,312|211,080|23,211|335,276|
|On disposals||(41,318)|(432,960)||(474,278)|
|At 31 March 2022|264,455|148,874|1,166,919|162,368|1,742,616|
|NET BOOK VALUE||||||
|At 31 March 2022|1,464,349|124,455|797,830|208,917|2,595,551|
|At 31 March 2021|1,155,862|113,397|1,049,922|227,715|2,546,896|
##
##
|||Heritage||
|---|---|---|---|
|||asset|Total|
|||2022|2022f|
|Carrying|value at 1 April 2021|1,276,665|1,276,665|
|Revaluations||38,810|38,810|
|CARRYING VALUE AT 31 MARCH 2022||1,315,475|1,315,475|
##
||||Listed|
|---|---|---|---|
||||investments|
||COST OR VALUATION|||
||At 1 April 2021||16,637,483|
||Additions||467,063|
||Disposals||(995,000)|
||Revaluations||979,152|
||AT 31 MARCH 2022||17,088,698|
||NET BOOK VALUE|||
||AT 31 MARCH 2022||17,088,698|
||AT 31 MARCH 2021||16,637,483|
|18.|STOCKS|||
|||2022|2021|
||Finished goods and goods for resale|79,044|63,710|
##
|||2022|2021|
|---|---|---|---|
|||R||
|DUE WITHIN|ONE YEAR|||
|Trade debtors||554,269|855,959|
|Other debtors||12,010|2,649|
|Prepayments|and accrued income|107,621|167,942|
|Grants receivable||349,918|609,734|
|||1,023,818|1,636,284|
##
|||2022|2021|
|---|---|---|---|
|||R||
|Trade creditors||202,274|273,969|
|Amounts
owed to group undertakings||13,397|13,397|
|Other taxation and social security||103,958|53,316|
|Other creditors||26,380|13,0?9|
|Accruals and deferred|income|2,148,306|2,320,722|
|||2,494,315|2,674,483|
##
|||2022|2021|
|---|---|---|---|
|Other|creditors|705,586|495,965|
##
##
||||||||||Balance at|
|---|---|---|---|---|---|---|---|---|---|
|||Balance at|1||||Transfers|Gains/|31 March|
|||April 2021
f||Income|Expenditure|f|in/out
K|(Losses)|2022|
|UNRESTRICTED||||||||||
|FUNDS||||||||||
|DESIGNATED||||||||||
|FUNDS||||||||||
|Investment|reserve|408,521|||||||408,521|
|Heritage assets||||||||||
|reserve||1,266,665||||||38,810|1,305,475|
|Designated||||||||||
|premises|fund|11,019,395||||||567,731|11,587,126|
|Designated|fellows|||||||||
|fund||2,763,770|||(60,933)|||141,494|2,844,331|
|||15,458,351|||(60,933)|||748,035|16,145,453|
|GENERAL|FUNDS|||||||||
|General reserve||1,129,637||3,412,449|(2,628,036)||(1,050,973)|132,817|995,894|
|Pension
liability||(506,500)|||(231,912)||||(738,412)|
|||623,137||3,412,449|(2,859,948)||(1,050,973)|132,817|257,482|
|TOTAL||||||||||
|UNRESTRICTED||||||||||
|FUNDS||16,081,488||3,412,449|(2,920,881)||(1,050,973)|880,852|16,402,935|
|ENDOWMENT||||||||||
|FUNDS||||||||||
|Southward|&|||||||||
|Todd Fund||158,913||||||8,149|167,062|
|Spooner||||||||||
|Bequest||102,027||||||5,232|107,259|
|||260,940||||||13,381|274,321|
##
##
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||Balance at 1||||Transfers|Gainsi|31 March|
||April 2021
f|Income
f|Expenditure|f|inlout
f|(Losses)
f|2022
f|
|RESTRICTED||||||||
|FUNDS||||||||
|Grants and||||||||
|Research||989,954|(1,045,927)||55,973|||
|EU Programme||||||||
|Awards|11,364|682,710|(694,074)|||||
|Browne Bequest|38,340|||||1,966|40,306|
|Browne & Bull||||||||
|Library|200,841|||||10,299|211,140|
|Mary Parke||||||||
|Bursary|3,048||||||3,048|
|Morely Neale||||||||
|Fund|1,007||||||1,007|
|Seawater
Hall &||||||||
|Resource||||||||
|Centre|312,219||||||312,219|
|Capital Grants|665,646|140|(413,755)||||252,031|
|Capital|||(253,162)||495,000||241,838|
|SAHFOS|2,132,926|||||111,464|2,244,390|
|NERC —Blue||||||||
|Gold|||(318,291)||500,000||181,709|
|iCPR|1,423,416||(369,710)||||1,053,706|
||4,788,807|1,672,804|(3,094,919)||1,050,973|123,729|4,541,394|
|TOTAL OF||||||||
|FUNDS|21,131,235|5,085,253|(6,015,800)|||1,017,962|21,218,650|
##
##
##
##
##
##
##
##
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at|||Transfers|Gains/|31 March|
|||1 April 2020|Income|Expenditure|in/out|(Losses)|2021|
||||F||||E|
|UNRESTRICTED||||||||
|FUNDS||||||||
|DESIGNATED||||||||
|FUNDS||||||||
|Investment||||||||
|reserve||256,907||||'I51,614|408,521|
|Heritage assets||||||||
|reserve||1,057,800||||208,865|1,266,665|
|Designated||||||||
|premises|fund|9,591,146||||1,428,249|11,019,395|
|Designated||||||||
|fellows fund||2,457,640||(67,273)||373,403|2,763,770|
|||13,363,493||(67,273)||2,162,131|15,458,351|
|GENERAL||||||||
|FUNDS||||||||
|General reserve||943,255|3,008,498|(2,714,414)|(142,894)|35,192|1,129,637|
|Pension
liability||(617,990)||111,490|||(506,500)|
|||325,265|3,008,498|(2,602,924)|(142,894)|35,192|623,137|
|TOTAL||||||||
|UNRESTRICT||||||||
|ED FUNDS||13,688,758|3.008,498|(2,670,197)|(142,894)|2,197,323|16,081,488|
|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2020|Income|Expenditure|in/out|(Losses)|2021|
||E|F|||||
|ENDOWMENT|||||||
|FUNDS|||||||
|Southward
&|||||||
|Todd Fund|137,661||||21,252|158,913|
|Spooner|||||||
|Bequest|88,383||||13,644|102,027|
||226,044||||34,896|260,940|
|RESTRICTED|||||||
|FUNDS|||||||
|Grants and|||||||
|Research|97,290|1,329,638|(1,553,520)|126,592|||
|EU Programme|||||||
|Awards|213,604|657,657|(859,897)|||11,364|
|Browne Bequest|33,213||||5,127|38,340|
|Browne 8 Bull|||||||
|Library|173,982||||26,859|200,841|
|Mary Parke|||||||
|Bursary|3,048|||||3,048|
|Morely Neale|||||||
|Fund|1,007|||||1,007|
|Seawater
Hall &|||||||
|Resource|||||||
|Centre|312,219|||||312,219|
|Capital Grants|635,139|201,598|(171,091)|||665,646|
|SAHFOS|1,883,052||||249,874|2,132,926|
|NERC - Blue|||||||
|Gold|224,932||(241,234)|16,302|||
|iCPR|1,556,218|976|(133,778)|||1,423,416|
||5,133,704|2,189,869|(2,959,520)|142,894|281,860|4,788,807|
|TOTAL OF|||||||
|FUNDS|19,048,506|5,198,367|(5,629,717)||2,514,079|21,131,235|
##
|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at 1|||Transfers|Gains/|31 March|
||April 2021|Income|Expenditure|in/out|(Losses)|2022|
|Designated|||||||
|funds|15,458„351||(60,933)||748,035|16,145,453|
|General funds|623,137|3,412,449|(2,859,948)|(1,050,973)|132,817|257,482|
|Endowment|||||||
|funds|260,940||||13,381|274,321|
|Restricted funds|4,788,807|1,672,804|(3,094,919)|1,050,973|123,729|4,541,394|
||21,131,235|5,085,253|(6,015,800)||1,017,962|21,218,650|
##
|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2020|Income
f|Expenditure
E|in/out
F|(Losses)
E|2021
E|
|Designated|||||||
|funds|13,363,493||(67,273)||2,162,131|15,458,351|
|General funds|325,265|3,008,498|(2,602,924)|(142,894)|35,192|623,137|
|Endowment|||||||
|funds|226,044||||34,896|260,940|
|Restricted funds|5,133,704|2,189,869|(2,959,520)|142,894|281,860|4,788,807|
||19,048,506|5,198,367|(5,629,717)||2,514,079|21,131,235|
##
|ANALYSIS OF NET ASSETS BETWEEN|FUNDS -CURRENT|YEAR|||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2022|2022|2022|2022|
|||R|||
|Tangible fixed assets|1,607,754|987,797||2,595,551|
|Fixed asset investments|14,318,541|2,495,836|274,321|17,088,698|
|Heritage assets|1,315,475|||1,315,475|
|Current assets|230,760|3,188,067||3,418,827|
|Creditors due within one year|(364,009)|(2,130,306)||(2,494,315)|
|Creditors due in more than one year|(705,586)|||(705,586)|
|TOTAL|16,402,935|4,541,394|274,321|21,218,650|
##
##
##
##
||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2021|2021|2021|2021|
||E||E||
|Tangible fixed assets|1,569,030|977,866||2,546,896|
|Fixed asset investments|14,071,785|2,309,258|256,440|16,637,483|
|Heritage assets|1,276,665|||1,276,665|
|Current assets|390,285|3,445,854|4,500|3,840,639|
|Creditors due within one year|(730,312)|(1,944,171)||(2,674,483)|
|Creditors due in more than one year|(495,965)|||(495,965)|
|TOTAL|16,081,488|4,788,807|260,940|21,131,235|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
||||||E|
|Net income|for the year (as per Statement||of Financial Activities)|48,605|1 873864|
|ADJUSTMENTS FOR:||||||
|Depreciation|charges|||335,276|499,064|
|Gains on investments||||(979,152)|(2,305,214)|
|Dividends,
interests||and rents from investments||(629,346)|(328,745)|
|Loss on the|disposal|offixed assets||158,307||
|Decrease/(increase)||in stocks||(15,334)|6,385|
|Decrease
in|debtors|||612,466|334,750|
|Increase
in|creditors|||28,273|698,177|
|NET CASH|PROVIDED BY/(USED IN) OPERATING ACTIVITIES|||(440,905)|778,281|
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|Cash|in|hand||||2,315,965|2,140,645|
|TOTAL||CASH|AND|CASH|EQUIVALENTS|2,315,965|2,140,645|
##
|||||||At 1 April||At 31 March|
|---|---|---|---|---|---|---|---|---|
|||||||2021|Cash flows|2022|
||||||||R||
|Cash|at|bank|and|in|hand|2,140,645|175,320|2,315,965|
|||||||2,140,645|175,320|2,315,965|
##
##
##
##
##
##
##
##
##
##