Charity Number: 1160123 Company Number: CE002844
Fishing Into The Future
A Charitable Incorporated Organisation (CIO)
Financial Statements For the year ended 31 December 2021
Fishing Into The Future
For the Year Ended 31 December 2021
| Contents | |
|---|---|
| Page | |
| Charity Information | 1 |
| Trustee's Report | 2-3 |
| Independent Examiners Report | 4 |
| Receipts and Payments Account | 5 |
| Statement of Assets and Liabilities | 6 |
| Notes to the Accounts | 7-8 |
Fishing Into The Future Charity Information For the Year Ended 31 December 2021
Trustees
Chairman
David Stevens Chairman Ashley Mullenger (Appointed 28 September 2021) Neil Whitney (Appointed 28 September 2021) Michael Park (OBE) (Appointed 28 September 2021) David Anderson (Appointed 28 September 2021) James Kelly (Appointed 28 September 2021) Trevor William Jones (Appointed 28 September 2021) Hannah Fennell (Appointed 28 September 2021) Peter Bruce Prof. Michel Kaiser Jimmy Buchan Mike Warner (Resigned 1 January 2022) Hazel Curtis Adrian Bartlett Dr Alexa Dayton Sean Dennison Steven Mackinson Alan Steer
Registered Charity number
1160123
Registered Company number
CE002844
Principal address
Fishmongers' Hall London Bridge London EX4R 9EL
Independent examiner
Accounting 4 Everything SW Limited 13 Hyde Road Paignton Devon TQ4 5BW
Page 1
Fishing Into The Future Report of the Trustees For the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' 2015.
Structure, Governance and Management
Governing document
Fishing Into The Future is a charitable incorporated organisation (CIO) foundation, registered on 23 January 2015 and governed by it's constitution.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives and Activities
Objectives and aims
The purposes of the CIO are:
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a) To promote sustainable development in UK fisheries for the benefit of the public by:
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i) The preservation, conservation and the protection of the marine environment and the prudent use of marine resources.
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ii) The promotion of sustainable means of achieving economic growth and regeneration in UK fisheries.
b) To advance the education of the public in subjects related to sustainable development in UK fisheries and the protection, enhancement and rehabilition of the marine environment and to promote, study and research in such subjects provided that the useful results of such study are disseminated to the public at large.
Fishing into the Future has continued to fulfil charitable objectives and aims through offering unique and unparalleled opportunities to improve engagement between fishing industry, science and management. This has included:
i) A re-branding of that charity, with successful efforts to re-engage stakeholders and raise important issues with a wider target audience.
ii) The launch of regular digital and press communications and trialling a successful format for regular online events to share knowledge and connect people in industry, science and management.
iii) The development of curriculum materials in preparation for in person events & workshops, once we are able to hold in-person events.
iv) Designing and building the fishingporthole.co.uk website, to share knowledge and provide current information to people working in UK fisheries to on engaging in science, management, and effective communications.
v) There was additional work to make organisational operative procedures more efficient.
Page 2
Fishing Into The Future Report of the Trustees For the Year Ended 31 December 2021
Financial Review
During the year income decreased to £70,569 (2020 - £117,996), and showed a carried forward fund of £94,821 (2020 - £102,067).
It is the policy of the trustees to hold unrestricted funds of £30,000 at any time. At the year end, the CIO held unrestricted funds of £67,141 in the bank account.
Unrestricted Funds
Funding and Partnership with The Fishmongers’ Company Fisheries Charitable Trust (FCFCT). In 2020, FCFCT proposed a partnership approach with 3 years core funding to support the work of the CIO., and a Memorandum of Understanding with the FCFCT was approved by the Court of the Fishmongers’ Company. Unrestricted funds are provided by two, 3-year grants provided by FCFCT to support charitable work, comanagement in UK fisheries, build industry-science relationships and share knowledge.
Restricted Funds
Restricted funds are provided by The Seafarers’ Charity to support the annual employment costs of the FIFT Executive Director in 2020-2021
The government awarded Fisheries and Seafood Scheme (FaSS) by the Marine Management Organisation (MMO) and Department for Environment, Food and Rural Affairs (DEFRA) provided project funding to cover 75% of a project to prepare learning materials for the FITF curriculum in project that lasted from September 202115th March 2022.
ProSea Marine Education , an independent non-profit based in the Netherlands supported travel expenses for the FITF Executive Director and and a member of the Board of Trustees to attend the “Catching the Potential” workshop on sustainable fisheries training in the Netherlands.
Report Approval
Approved by order of the board of trustees on ................................... and signed on its behalf by:
.............................................
David Stevens
Page 3
Fishing Into The Future Independent Examiners Report For the Year Ended 31 December 2021
I report on the accounts of the charity (number 1160123) for the year ended 31 December 2021, which are set out on the following pages.
Respective responsibities of trustees and examiner
The charity's trustees are reponsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charity Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Act;
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to follow procedures laid down in the General Directions given by the Charity Commission;
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to state whether particular matters have come to my attention.
Basis of independent examiners statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiners statement
In connection with my examination, no matter has come to my attention
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1 ) which gives me reasonable cause to believe that in any material respect the requirements:
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a) to keep accounting records in accordance with section 130 of the Charities Act; and
b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met. Or
2 ) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
............................................. Date 18-Jan-23
Accounting 4 Everything SW Limited Chartered Accountants
13 Hyde Road Paignton Devon TQ4 5BW
Page 4
Fishing Into The Future Revenue Account
For the Year Ended 31 December 2021
| Income Grants Payments Project delivery costs Rent Insurance Printing, postage and stationery Sundry Expenses Trustee meeting costs Travel and subsistence costs Bank charges Leasing payments Staff costs Payroll costs Independent Examiners Fees Administration support Website & email fees Computer costs Depreciation Total Payments Surplus/(Deficit) Transfer between funds NET INCOME LESS EXPENDITURE |
Unrestricted Restricted Total Total fund funds funds funds 2020 £ £ £ £ 54,413 16,156 70,569 117,996 54,413 16,156 70,569 117,996 22,259 10,069 32,328 46,487 - - - 944 777 - 777 560 183 - 183 137 277 - 277 6 - - - - 674 597 1,271 63 127) ( - 127) ( 137 - - - 78 - 33,851 33,851 18,594 546 330 876 420 1,101 - 1,101 1,295 4,974 - 4,974 2,826 364 - 364 433 1,327 - 1,327 611 615 - 615 615 32,969 44,846 77,815 73,206 21,444 28,691) ( 7,246) ( 44,790 - - - - 21,444 28,691) ( 7,246) ( 44,790 |
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Page 5
Fishing Into The Future Statement of Assets and Liabilities (Balance Sheet) For the Year Ended 31 December 2021
| Fixed Assets Tangible Assets Current Assets Prepayments Other Debtors Cash Funds Current account Liabilities Other Creditors Taxes and social security Accruals Assets less Liabilities Capital Account Income funds brought forward Excess for the year NET ASSETS |
Unrestricted Restricted Total Total fund funds funds funds 2020 £ £ £ £ 1,844 1,844 2,459 - - 136 - - - 86,876 6,774 93,650 102,249 86,876 6,774 93,650 102,249 197 197 197 29) ( 29) ( 1,292 504 504 1,288 672 - 672 2,777 88,047 6,774 94,821 102,067 66,602 35,465 102,067 57,277 21,444 28,691) ( 7,246) ( 44,790 88,046 6,774 94,821 102,067 |
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Signed ............................................. Trustee Date:
Signed ............................................. Trustee Date:
Page 6
Fishing Into The Future Notes to the Accounts For the Year Ended 31 December 2021
1.1) Accounting Policies
The accounts have been prepared in accordance with the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' 2015. and comply with the accounting requirements of the Charities Act 2011.
1.2) Incoming Resources
Income from the sale of goods and services derived from charitable activities and own produce is included in incoming resources in the period in which the charity is entitled to the receipt. During the period there were no sales of goods and services with all income received from donations and grants for specific funding.
Income from donations and grants, including capital grants is included in incoming resources when these are receivable, except as follows:-
When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods.
When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until those conditions are met.
1.3) Fixed Assets
Tangible fixed assets, other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer Equipment
20% straight line
2) Number of employees
The average monthly number of employees during the year was one (2020: one)
There were no employees whose annual remuneration was £60,000 or more.
During the year, the following payments were made to trustees for project related consultancy fees and expenses:
| Dr Alexa Dayton Chantelle Williams (Fresh from the Boat) Prof. Michel Kaiser Glen Milligan Ashley Mullenger David Stevens Adrian Bartlett Peter Williams Mike Warner (Avocet Media) |
2021 2020 - 2,381 - 600 - 965 - 1,518 79 - 35 - 120 1,108 - 1,440 - 1,050 |
|---|---|
| 234 9,062 |
Page 7
Fishing Into The Future Notes to the Accounts For the Year Ended 31 December 2021
3) Fixed Assets
| Cost Additions 4) Movement in Funds Unrestricted funds General fund Restricted funds Seafarers FaSS Charge for year Net Book Value At 31 December 2021 At 31 December 2020 At 1 January 2021 At 31 December 2021 Depreciation At 1 January 2021 At 31 December 2021 |
Computer Equipment £ 3,074 - |
Total £ 3,074 - 3,074 615 615 1,230 1,844 2,459 At 31 Dec Movement At 31 Dec 2020 in funds 2021 66,602 21,445 88,047 |
|---|---|---|
| 3,074 615 615 |
||
| 1,230 1,844 |
||
| 2,459 | ||
| 66,602 21,445 88,047 35,465 31,665) ( 3,800 - 2,974 2,974 |
||
| 35,465 28,691) ( 6,774 |
||
| 102,067 7,246) ( 94,821 |
Page 8