I I CVNTENT
NTENT5 1 v¥
contents
SECTION ONE | INTRODUCTION
Introdu¢ii¢ntoTrLStees' Annual Pe¥¢rt
04
efererKeorO0d￿￿￿lsrrthtye derall5￿t￿¢hQrl¢y. IrsTrusteesand¢dv15ers
SECTION TWO | ANNUAL FIEpofiT
Ove￿e￿
OJJ
Natlond MarinEBldo9i￿l LibriJry
Wd¢ome
Fa¢ilities
Aboutus
QÈsèar¢h Hlghlights
Membershlp
Marlne Mlcroblome
Leornwithus
Coastal Ecolog¥
PuNications
Ocoan810109y
Pohcy
LookingAtteud
Duto Inf¢rmotlo
O¢notlons
SECTION THfiEE | FINANCIAL FIEVIEW
Struthre.9ovemunEearhdmana9Ement
Statemèntof trustees. reso¢nsibllltles
Ind¥endeTrtouditors' reg¢rt ¢nthefinon¢ial starements
Statemontof financialactiwries
Balanc8 Sheet
5tatementof cashflows
Notest¢ thelnuncial statements

section two
annual
report

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section three
financial
review

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|||Note|Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|2023|
||||3||3|3|
|Donations<br>and legsacs|||3,202|2,751,500||2,75/,702|
|Chantable act vities|||3,116,203|2 /76 940||5,595,143|
|Other trading actmties||5|122,829|||122,829|
|Investment<br>income||6|394,447|57,780|6,982|459,209|
|Total income|||3,656,($1|5,2$$,220|(,9$2|$,931,$$3|
|Raising funds|||(31,903)|||(31,903)|
|Chantable act vities||7|(3,255,915)|(3,558,585)||N,812,298)|
|Total expenditure|||(3,1$5,816)|(3,558,385)||(Ii,$44,201)|
|Gains/losses<br>on investment|assets||(547,835)|(80,649l|(9,744)|(638,228)|
|Net (expenditure)/income|||(196,970)|1,649,186|(2,762)|1/49,454|
|Transfers between funds|||216/56|(216,456)|||
|Net movement<br>in funds|||19,486|1,432,730|(2,762)|1,449,C54|
|Total funds brought forward|||16,401,935|4,541,394|174,311|21,218,650|
|Total funds carried forward||26|16,422,421|5,974,124|271,559|22,668,104|



## 

|||Note|Unrestricted|Restricted|Ehdowmerit|Total|
|---|---|---|---|---|---|---|
||||funtls|funds|fuhds|2022|
||||3|3|E|E|
|Donations and legaaes|||11,677|8,541||20,218|
|Chontoble activities|||2,720,676|1,664,265||4,384,939|
|Other trading<br>activities|||50,750|||50,750|
|Investment<br>income|||629,346|||629,346|
|Totalincome|||5,412,449|1,672,$04||5,0$5,253|
|Rais ng funds|||(28,984)|||(28,98C)|
|Chontoble activities||7|(2,733,590)|(3,094,919)||(5,828,509)|
|Other expenditure||8|(158,307)|||(158,307)|
|Tote(expenditure|||(2,920,$81)|(3,094,919)||(6,015,800)|
|Gains/losses<br>on investment|assets||842,042|123,729|15,381|979,152|
|Net income/(expenditure)|||1,333,610|(1,298,386)|13,381|48,605|
|Transfers between funds|||(1,050,973)|1,050,973|||
|Gains/(losses)<br>on eve)aston<br>offixed assets|||38,810|||38,810|
|Net movement<br>i<br>funds|||521/47|(247,413)|15,381|67,/15|
|Total funds brought forward|||16,0S1,4SS|4,7S8,S07|260,940|21,131,235|
|Total funds carried forward||26|16,402,955|4,541,394|274,321|11,11$,(50|





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|||Note|2023|2022|
|---|---|---|---|---|
||||E|E|
|Tangible assets||15|5,453,754|2,595,551|
|He ntage assets||16|1,315,475|1,315,475|
|Investments||17|14990/50|17,088,698|
||||21,759,679|20,999,724|
|stocks||18|179,507|79,044|
|Debtors||19|I/03,743|1,023,818|
|Cash at bank and in hand|||1,689,236|2,315,965|
||||5,272,4$6|3,41$,$27|
|Creditors<br>Amounts|falling due within one year|20|(1,917,152)|(2/ 94,315)|
|Net current assets|||1,355,334|924,512|
|Total assets less current liabilities|||23,115,013|21,924,234|
|Creditors<br>Amounts|falling due after more than one year|21|(446,909)|(705,586)|
|Net assets|||22,668,104|21,218,650|
|Endowment<br>funds|||271,559|27/,321|
|Restncted funds|||5,97412/,|4,541,394|
|Unrestncted<br>funds|||16,422,421|16,402,935|
|Total funrl ~||26|22,44$,104|21,21$,450|



||||||||Note|2023|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||||||E|5|
|Net income||||||||1,449,454|87,415|
|Depredation||||||||528,053|335,276|
|Investment<br>income||||||||(/59,209)|(629,346)|
|Loss on disposal off xed assets|||||held for the Chanty's|own use|10||158,307|
|Noir value odlustment|||||||||(58,810)|
|Gain on investments||||||||638,228|(979,152)|
|||||||||2,156,526|(1,066,310)|
|Increase in stocks||||||||(100,463)|(15,334)|
|increase)/decrease|in|debtors|||||19|(379,925)|612,466|
|(Decrease)finc ease|in|credito||s|||20|(855,840)|28,273|
|Net cash flows from|operating|||activities||||840,298|(440,905)|
|Interest receivable and||aim|lar|income||||/ 59,209|629,3/6|
|Purchase oftangible|fixed assets||||||15|(3,386,256)|(5/1,058)|
|Purchase ofinvestments|||||||17|(1,442,980)|(467,063)|
|Sale of investments||||||||2,905,000|995,000|
|Net cash flows from|investing|||activities||||(I/67027)|616,225|
|Net (decrease)/increase||in cash|||and cash equivalents|||(626,729)|175,320|
|Cash and cash equivalents|||at|I Apnl||||2,315,965|2,1/ 0,6/ 5|
|Cash and cash eauivalents|||at 31March|||||1,6$9,236|2,315,965|





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|||Un est cted funds|Restricted|Toto l|Toto l|
|---|---|---|---|---|---|
|||General|funds|2023|2022|
|||6|E|E|E|
|Dungeons||3,202|1,001,500|1,004,702|17,202|
|Government|grants||||3,016|
|Grants from|other ch antics||1,750,000|1,750,000||
|||3,202|2,751,500|2,754,702|20,218|



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|||Unrestricted<br>funds|Total|Total|
|---|---|---|---|---|
|||Generol<br>6|fundsf|2022|
|Membership|subscnptions|122,829|122,829|50,750|
|||122,829|122,$29|50,750|



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|Unrestncted|Restncted|Endowment|Total|Total|
|---|---|---|---|---|
|funds<br>General|fuhds<br>8|funds<br>Expendable|2023f|2022<br>6|
|E||8|||
|1,935|||1,935|117|
|392,512|57,780|6,982|I57,274|629,229|
|394,447|57,780|6,982|439,209|629,544|



|||Unrestricted<br>funds|Restdcted|Total|Total|
|---|---|---|---|---|---|
|||General|fundsf|2025<br>6|2022<br>6|
|Research actwities||2,280,619|2 47891,0|4,759,559|3,637,347|
|Other knowledge|exchange activities|518,035||518,035|530,570|
|Courses and workshops||4,293||4,293|20,126|
|Journa15||313,256||313,256|196,896|
|||3,116,203|2,47$,940|5,595,143|4,3$4,939|





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||||Note|un estncted|Restrcted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|2023|2022|
|||||General|5|E|E|
|||||4||||
|Research activities||||503,053|3,176,833|3,679,886|3,283,102|
|othe|knowledge|exchange octiviaes||455,887||/,53887|628,565|
|Courses ahd wo/ksho ps||||64,171||64,171|26,347|
|J6Unl|O15|||25,740||25,740|12,90I|
|Allocated support||costs|9|21/,2432|381,552|2 52398I,|I 81/,980|
|Governance costs|||9|64,630||6/,630|62,813|
|Total|income|||3,253,913|3,558,385|6,812,298|5,$28,509|
|||||OCher||||
|||||knowledge||||
||||Research|exchange|COUISES Clhd|||
||||activities|activities|wo/kshops|Jouniois|Total|
|5(off|cos(5||1,889,749|255,0/I|57,123|25,725|2,207,658|
|Other|dl/ect costs||1,262,084|218,846|70I 8|15|1487993|
|Oepreaation|||528,053||||528,053|
||||3,679,SSS|453,SS7|64,171|2S,740|4,225,dS4|



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||||||Total|Total|
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|E|
|Loss|on|disposal|offixed|assets||158,307|
|||||||158,307|



||||Unrestnctedfunds|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||General|funds|2023|2022|
||||5|E|5|5|
|Rent and rates|||275,713||275,713|158,248|
|Repairs and mointe||nance|108,926||108,926|65,146|
|IT&0515|||186,360||186,360|96,403|
|Travel and staff costs|||20,882||20,882|8,55/|
|Offic costs|||280,781||280,781|178,935|
|IhsU/OhCE||||||31,192|
|Legal and professional|||30,355||30,355|18,672|
|Subscnptions|and|grant costs|52,713||52,713|52,469|
|Bahk charges|||15,603||15,603|21,787|
|Irrecoverable|VAT||68,958|381,552|450,510|107,792|
|pension interest|||25,559||25,559|17,120|
|gruf costs|||1,058,500||1,058,500|994,100|
|Exchange rate vanances|||(26,554l||(26,554)|66,562|
|Support costs|—Govemonce||64,630||64630|62,813|
||||2,107,042|3$1,552|1,5$8,614|1,$77,793|
|||||Support costs|Governance costs|Total|
|5(off cosL'5||||1,058,500|38,648|1,097,148|
|other d rect costs||||I,/65,484|25,982|1491,466|
|||||2,523,9$4|4d,li30|1,5$8,614|





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|||Unrestricted|funds|Total|Total|
|---|---|---|---|---|---|
|||General||2023|2022|
||||E|3|E|
|Wages and salanes|||38,6/8|38,648|52,463|
|Aude ofthe finanaal|statements||8,885|8,885|7,350|
|Other fees paid to auditors|||3,000|3,000|3,000|
|Other governance costs|||14,097|14,097||
||||64,63O|64,(30|62,813|



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|10 NET INC|10 NET INC|OMING/OUTG|OING<br>RE|SOURCES||
|---|---|---|---|---|---|
|Net incoming/(outgoing)||resources forthe year include||||
|||||2023|2022|
|||||E|E|
|Audit fees||||8,885|7,350|
|Other non-audit|services|||3,000|3,000|
|Loss on disposal|offixed|assets held for the Chanty's|own use||158,307|
|Depreaation<br>of|fixed assets|||528,053|335,276|



||2023|2022|
|---|---|---|
||E|E|
|Wages and salanes|3,021,661|2,786,663|
|Social securlt'/ costs|266,726|212,329|
|Pens on costs|I3,689|518,723|
||3,332,076|3,517,715|



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||2023|2022|
|---|---|---|
||No|No|
|E60,001 —E70,000|||
|E70,001 —E80,000|||
|E80,001 —E90,000|||
|E100,001 —E110,000|||
|E110,001 —E120,000|||





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||||2023|2022|
|---|---|---|---|---|
||||4|4|
|Audit ofthe|finanaal statements||8,885|7,350|
|Prepolotloh|ofstotutoh/|occouhts|3,000|3,000|



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||Long-term|Plaht ahd|Research and|Research|Total|
|---|---|---|---|---|---|
||leasehold|machinery|laboratory|vessel|8|
||property|E|eau pment|E||
||E||E|||
|At I Apnl 2022|1,72!!,804|273,329|1,964,749|371,285|4,338,167|
|Addtons|2,926,626|91,816|363,775|4,041|3,386,256|
|At 31March 2023|4,655,430|365,145|2,328,522|375,326|7724,423|
|At I Apnl 2022|264,455|148,874|1,166,919|162,568|1,7/2, 616|
|Charge for the year|175,648|8/,150|246,959|21,296|528,053|
|At 31March 2023|440,103|233,024|1,413,878|183,664|2,270,669|
|At 31March 2023|4,215,327|132,121|91/,6/ /|191,662|5,453,754|
|At 31March 2022|1,464,349|124,455|797,830|208,917|2,595,551|



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|||He itage assets|
|---|---|---|
|||4|
|At|I Apnl 2022|1,315,/ 75|
|At|31March 2023|1,315,475|
|At|51 March 2025||
|At|51 March 2025|1,315,475|



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||I.sted|vest<br>ents|
|---|---|---|
|||4|
|At 1 Apnl 2022||17,088,698|
|Revaluation||(638,228)|
|Add tions||1,442,980|
|Dlsposals||(2,903,000)|
|At 31March 2025||1/,990450|
|At 51 March 2023||14,990450|
|At 31March 2022||17,088,698|



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|||2023|2022|
|---|---|---|---|
|||3|3|
|Trade creditors||540,785|202,27/|
|Due to group undertakings|||13,597|
|Other toxation ond soaal secunty||95,905|105,958|
|Other creditors||17,991|26,380|
|Accrue(a and deferred|income|1,/6/, /71|2,148,306|
|||1,917,152|2,494,315|



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||2023|2022|
|---|---|---|
||4|4|
|5(ocks|179,507|79,044|



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|||2023|2022|
|---|---|---|---|
|||3|3|
|Other|creditors|//6, 909|705,586|



||2023|2022|
|---|---|---|
||4|4|
|Trade debto s|7/7,266|554,269|
|Prepayments|23,5/7|107621|
|Accrued income|604,000|349,918|
|Otherdebtors|28,930|12,010|
||1,403,743|1,023,$1$|





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|||Balance at I<br>4prg 2O12|Incoming<br>resources|Resources<br>expended|Transfers|E|Other recognised<br>gains/(lossesl|Be(shee at 31<br>March 2023|
|---|---|---|---|---|---|---|---|---|
|||f.|f.|f.|||E|E|
|56Uthword|&Todcl (Un|167,062|4,252||||(5,934)|165,380|
|&pooner Bequest||107,259|2,730||||(3,810)|106,179|
|Total funds||21,218,650|$,931,$$3|(6,844,201)|||(63$,228)|22,668,104|



||||Balance at I|Incoming|Resources|Transfers|Other recognised|Balance at 31|
|---|---|---|---|---|---|---|---|---|
||||April 2021|resources|expended|E|gains/(losses)|March 2022|
||||E|E|E||5|5|
|General|||||||||
|General|reserve||1,129,437|3,412//9|(2,628,036)|(1,050,973)|132,817|995,89I|
|Pension|liability||(506,500)||(251,912)|||(738,412)|
||||623,137|3,411,449|(1,859,948)|(1,050,973)|132,$17|257,4$2|
|Des/gnated|||||||||
|Investmentreserve|||408,521|||||408,521|
|Hentoge|ossets ress ve||1,266,665||||38,810|1,305,l75|
|Designated<br>premises fund|||11,019,395||||567731|11,587,126|
|Anne Warner Fellows Fund|||2,763,770||(60,935)||141/94|2,844,331|
||||15,458,351||(60,933)||748,035|16,145,453|
|Total unrestricted||funds|16,081,488|3,412,449|(2,920,SSI)|(1,050,973)|$$0,852|16,402,935|



|||Boi ance ot 1|Intern ng|peso<br>rces|Transfers|Other recogn sed|Bo ion caotst|
|---|---|---|---|---|---|---|---|
|||April 2021<br>E|resources<br>5|expended<br>E|5|gains/(losses)<br>5|March 2022f|
|Glahts ahd Research|||989,954|(1,045,927)|55,973|||
|EU Programme|Awards|11,364|682,710|(694,074)||||
|Browne Bequest||38,540||||1,966|40,306|
|Browne & Bull Library||200,841||||10,299|2H,140|
|Mon/ Parka Bursary||3,048|||||3,048|
|Morely Heals Fund||1,007|||||1,007|
|Seawater<br>Hall &<br>Resource Centre||312,219|||||512,219|
|Capital Grants||665,646|140|(413,755)|||252,031|
|Capita)||||(253,162)|495,000||241,858|
|SAHFOS||2,132,926||||111,464|2,244,390|
|IhflastlUCL'Ule||||(318,291)|500,000||181,709|
|iCPR||1,423/16||(369,710)|||1,053,706|
|Tote(restricted|funds|4,7SS,S07|1,672,S04|(5,094,919)|1,0S0,975|125,729|4,541,394|
|Southward<br>&Todd fund||158,915||||s,1l9|167,062|
|&pooner Bequest||102,027||||5,232|107,259|
|||260,9/0||||13,381|274,321|
|Total fuhds||21,131,235|5,0$5,255|(6,015,$00)||1,017,961|11,11$,(50|





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|Grants and Research|Grants and Research|The Research Programme<br>combined<br>funds awarded forspeafic research prolects|The Research Programme<br>combined<br>funds awarded forspeafic research prolects|
|---|---|---|---|
|||that cannot be used for other purposes||
|||Research Programme<br>funds are now shown as fogoww||
|Eu Programme<br>awards||These funds are prolects supported<br>through the Interreg<br>Horizon||
|||2020 programmes<br>Funding<br>awarded covers only a proportion<br>ofthe||
|||full prolect costs and transfers from unrestncted<br>reserves||
|Browne Bequesti||These funds are for the purchase<br>ofapparatus<br>and the||
|||publication<br>ofbooks on Bntish Manne Fauna||
|Browne and Bull Library Fund:||Combines specmc legaaes forthe "purchase ofrare orvaluable||
|||books as need oroccasion ar ses" for the MBA's library||
|Mary Parks Bursary Fuhd||To provide bursar es for phys ological students atthe MBA||
|Morley Heale Fund:||To provide soaalfaalitiesto<br>the staff members ofthe MBA||
|Seawater|Hall and Resource Centre|Infrastructure<br>grants forthe Resource Centre and Seawater<br>Hall are held||
|||as restncted funds with a proportion<br>ofthe depreaation<br>forthese assets||
|||being charged tothe respective<br>fund each year, calculated as the amount||
|||that the capital grant bears tothe total cost ofthe asset funded||
|Capital grant:||This isa grant for capital equipment<br>purchased||
|Capltah||This represents<br>capital items still held by the charity, relating to restncted funds||
|SAHFGS:||This represents<br>the amount transferred<br>from the SirAlister Hardy Foundation|for|
|||Ocean Saence As part ofthe terms and conditions oftransfer, the balance|isto be|
|||restncted to expenditure<br>relating to the Continuous<br>Plankton Recorder Survey||
|Infrastructure:||These funds are for the refurbishment<br>and redevelopment<br>prolect||
|||ofthe new Mar ne Microbiome Centre ofExcellence||
|iCPR||These funds are to be used for the iCPR prolect with intends to enhance||
|||the capabilities ofthe Continuous<br>Plankton<br>Recorder Survey by creating a||
|||system to integrote about the oceans and new computat onal techniques||
|BIIon Morton Fund||This fund relates to0donation from Professor Bran Morton on his death, forthe||
|||purpose offostenng co-operation<br>inthe broad field ofmanne biological research by||
|||young (up tothe age ofSoi,eorly career, Bnbsh, Hong Kong and Azorean atizens||



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|||Unrestricted|Restricted|Endowment|Total funds ot 31|
|---|---|---|---|---|---|
|||funds|funds|funds|March 2025|
|||General|5|E|E|
|||4||||
|Tangible|fixed assets|2,629,899|2,823,655||5/53,754|
|Hentage|assets|1,315,475|||1,315,475|
|Fixed asset investments||11,28/,81/|3//76/5|257991|I/,990,450|
|Current|assets|2,266,091|992,827|13,568|3,272/86|
|Current|liabilities|(626,949)|(1,290,203)||(1,917,152)|
|Creditors over Iyear||(//6 909)|||(446,909)|
|Totai net assets||16,/12,411|5,974,124|271,559|21,66$,104|
|||Unrestricted|Restricted|Endowment|Toto(funds ot'31|
|||funds|funds|funds|Morch 2022|
|||General||5|5|
|||4||||
|Tangible|fixed assets|1,607754|987,797||2,595,551|
|Hentage|assets|1,315,/75|||1,315,475|
|Fixed asset investments||14,318,541|2,495,836|274,321|17088698|
|Current|assets|250,760|3,166,067||3/18,627|
|Current|liabilities|(364,009)|(2,130,306)||(2,494,315)|
|Creditors over Iyear||(705,586)|||(705,586)|
|Totai net assets||16,402,935|4,541,394|274,321|11,11$,(50|



## 

||At 1April|Financing|At 31March|
|---|---|---|---|
||2022|cash flows|2023|
||5|E|E|
|Cos)i ot' bank 0nd in Iiond|2,315,965|(626,729)|1,689,236|
|Netfunds|2,515,965|(626,729)|1,(89256|



## 



The Morine Biological Association
The Loborotory,
Citodel Hill p￿MOUth,
Devon
PL12PB.UK
+44 1011752 426493
info@mbo.oc uk
mbo.oc.uk