Charity Number: 1160123 Company Number.. CE002844 Fishing Into The Future A Chariiable Incorporaied Organlsatlon ICIOI Financial Statements For the year ended 31 December 2022 Fishing Into The Future For the Year Ended 31 December 2022 Contents Page Charity Information Trustee's Report Independent Examiner5 Report Receipts and Payment5 Account Statement of Assets and Liabilities Notes to the Accounts Fishing Into Thè Futurè Charity Information For the Year Endèd 31 Dètèmber 2022 Trustees Exec Commlttee Member David Stevens Ye5 Chairman Ashley Mullenger Neil Whitney Michael Park IOBEI David Anderson James Kelly Trevor William Jones Hannah Fennell Peter Bruce (Resigned) Prof. Michel Kaiser Ye5 Jimmy Buchan Mike Warner Hazel Curtis Ye5 Adrian Bartlett Ye5 Dr Alexa Dayton Sean Dennison Ye5 (Resigned) steven Mackinson Alan Steer Karl Price (Appointed 3 February 20231 (Appointed 3 February 20231 (Appointed 3 February 20231 (Appointed 3 February 20231 (Appointed 3 February 20231 (Appointed 3 February 20231 (Appointed 25 April 20231 Jennifer Price Alison Freeman Ye5 Jamie Robertson rl Glynn Emma Plotnek Executive Director Philip Mc8ryde Reglstered Charlty number 1160123 Registered Company number CE002844 Prlnclpal address Fishmongers, Hall London Bridge London EX4R 9EL Independent examlner Accounting 4 Everything SW Limited 13 Hyde Road Paignton Devon TQ4 5BW P3ge I Fishing Into Thè Futurè Report of the Trustèes For the Year Endèd 31 Dètèmber 2022 The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charities. 2015. Structure. Governance and Management Governlng document Fishing Into The Future is a charitable incorporated organisation ICIOI foundation, registered on 23 January 2015 and governed by its constitution. Rlsk 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 3ssur3nce against fraud and error. This duty is carried out by members of the Executive Committee. Fishing into the Future evaluates organisation31 and project risks, including protocols to provide appropriate levels of risk management against financial fraud and error Oblectlves and Actlvltles The purposes of the CIO are.. To promote sustainable development in UK fisheries for the benefit of the public bv.. The preservation, conservation and the protection of the marine environment and the prudent use of marine resources. The promotion of sustainable means of achieving economic growth and regeneration in UK fisheries. bl 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. Report on Charltable Actlvltles 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.. il Building the website fishin ortholL'.LO.uk 3 one stop shop for people working in the UK fishing industry to learn and connect into fisheries science, management and relevant topics for the industry. Updating and adding new content to the website. Launching the website at the Skipper Expo event in Aberdeen in May 2023. ill Developing and launching a series of online events- FITF Talks fishermen-led conversations to encourage participation within 3 fishermen-led space. on topics relevant to UK commercial fishing. FITF Talks aim to inform and connect people in the fishing industry, science and policymakers. Six talks were held throughout the year. with topics including funding, communications, policy engagement and industry led-science. iiil Creating a set of learning materials with over 30 final units that include tailored resources specific to UK fisheries. Topics cover fisheries science, fisheries management, building partnerships, effective communication and seafood business. A selection of these are available on the website fishingporthole.co.uk, some have been used as topics for FITF T31ks, and others are prepared to be used as 3 part of our in-person events. P3ge 2 Fishing Into Thè Futurè Report of the Trustèes For the Year Endèd 31 Dètèmber 2022 iv) Forming part of the Fishing Industry Science Partnership Network, to support people in the fishing industry to develop research ideas and connect into available fundin& and build connections with research teams to carry out projects. This specifically included participating in research teams to support outreach and facilitation within industry-science projetts. vl Port visits, attending events and conferences, and supporting an exchange visit to the USA to build reputation, connections, and support fisheries co-management and industry led-research. vil Development of funding bids to secure financi31 support for FITF'S work to deliver residential programmes in 2023 & 2024. Flnanclal Revlew During the year income increased to £178,14412021- E70.5691, and showed a carried forward fund of £167,629 12021- E94.8211. 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 £141,68512021- £67,141) in the bank account. Unrestrlcted Funds Funding and Partnership with The Fishmongers, Company Fisheries Charitable Trust IFCFCTI. In 2021, FCFCT proposed 3 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. co-management in UK fisheries. build industry-science relationships and share knowledge. Restrlcted Funds Restricted funds are provided by The Seafarers, Charity to support the annual employment costs of the FIFT Executive Dirertor in 2021-2022 The government awarded Fisheries and Seafood Scheme IFaS51 by the Marine Management Org3nisation IMMOI and Department for Environment. Food and Rural Affairs IDEFRAI provided project funding to cover 75% of a project to prepare learning materials for the FITF curriculum in project that lasted from September 2021- 15th March 2022. We received a grant on 10 June 2022 from Sunderland Marine to help fund the attendance of young and trainee skippers and fishermen at the Fishing News Awards 2022 so we could build connections and outreach. Uni Hull FISP, Contract with the University of Hull, and working with Holderness Fishing Industry Group to support communications. outreach to fishing communities along the North East coast of England, and support writing a proposal for Fishing Industry Science Partnership funding to research an exploratory crab fishery. Report Approval Approved by order of the board of trustees on and signed on its behalf by.. David Stevens P3ge 3 Fishing Into The Future Independent Examiners Report For the Year Ended 31 December 2022 I report on the account5 of the charity Inumber 11601231 for the year ended 31 Oecember 2022, which are set out on the following pages. Respective re5ponsibities of trustees and examiner The charity's trustees are reponsible for the preparatiori of the accounts. The charity'5 trustees consider that an audit is riot required for thi5 year under section 144 of the Charity Act 2011 Ithe Charities Act) and that an independent examination is needed. It is my responsibility to= examine the account5 under section 145 of the Act,. to follow procedures laid down in the General Directions given by the Charity Commi55iOn', to state whether particular matters have come to my attention. 8a515 of independent exzrniners statement My examination was carried out in accordance with General Direction5 given by the Charity Cornmi55ioners. 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 include5 Consideration of any unusual item5 or di5c105ures 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 15 given a5 to whether the accounts present a "true and fair view and the report is limited to those matter5 Set out in the statement below. Independent examiner5 Staternent In connectiori with rny exarnination, no matter has come to my attention I I which gives me reasonable cause to believe that in any material respect the requirements.. al to keep accounting records in accordance with Section 130 of the Charities Act,. and bl to prepare accounts which accord with the accounting record5 and comply with the accounting requirernent5 of the Charities Act have not been met. Or to which in rny opinion, attention should be drawn in order to enable a proper understanding of the account5 to be reached. Date 19-Sep-23 Accounting 4 Everything SW Limited Chartered Accountants 13 Hyde Road Paignton Devon TQ4 SBW Page 4 Fishing Into The Future Revenue Account For the Year Ended 31 December 2022 Unrestricted Restricted funds funds Total funds Total fund 2021 Income Grants 89,740 88,403 178,144 70,569 89,740 88,403 178,144 70,569 Pzyrnents Project delivery costs Rent 19,162 27,852 47,014 32,328 Irisurance 545 545 777 Printing, postage and stationerv Sundry Expenses Trustee meeting cost5 Travel and subsistence cost5 183 209 209 277 5,019 196 2,0(X) 7,019 196 1,271 1271 Bank charges Leasing payments Staff costs 788 39,860 42 40,648 600 33,851 876 Payroll costs Independent Examiners Fees Administration 5UPPOrt Website & email fees 558 1,086 5,034 364 1,086 5,034 364 I,ioi 4,974 364 Computer cost5 Depreciation 2,007 615 2,(107 615 1,327 615 Total Payment5 35,582 69,754 105,336 77,815 Surplu5/lDeficitl 54,158 18,650 72,808 7,2461 Transfer between funds 8541 854 INCOME LESS EXPENDITURE 53,304 19,504 72,808 7,2461 Page S Fishing Into The Future Statement of Assets and Liabilities (Balan￿ Sheetl For the Year Ended 31 December 2022 Unrestricted Restricted funds funds Total funds Total fund 2021 Fixed Assets Tangible Assets 1,230 1,230 1,844 Current Assets Prepayments Other Debtors C35h Funds Current account 141,685 26,396 168,081 93,650 141,685 26,396 168,081 93,650 Liabilitie5 Other Creditor5 259 259 197 Taxe5 and Social security Accruals 919 919 291 504 504 504 1,682 1,682 672 Assets le55 Liabilities 141,233 26,396 167,629 94,822 Czpitzl Account Income funds brought forward Exces5 for the year 88,047 53,304 6,774 19,504 94,821 72,808 102,067 7,2461 ASSETS 141,351 26,278 167,629 94,821 Signed Trustee Date.. Signed Trustee Date.. Page 6 Fishing Into The Future Notes to the Accounts For the Year Ended 31 December 2022 Accounting Policies The accounts have been prepared in accordance with the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charities, 2015. and comply with the accounting requirements of the Charitie5 Act 2011. 1.21 Incoming Resources Income from the sale of good5 and service5 derived from charitable activitie5 and own produce 15 included in incorning resources in the period in which the charitv 15 entitled to the receipt. During the period there were no sales of good5 and services with all income received from donation5 and grant5 for Specific funding. Income from donations and grant5, including capital grants is included in incoming re50urce5 when these are receivable, except as follow5:_ When donors specify that donation5 and grants given to the charity must be used in future accounting periods, the income is deferred until those periods. When donor5 impose condition5 which have to be fulfilled before the charity becomes entitled to Use such income, the income 15 deferred until those condition5 are met. 1.31 Fixed Asset5 Tangible fixed assets, other than freehold land are stated at C05t less depreciation. Depreciation is provided at rate5 calculated to write off the c05t less estimated residual valLJe of each asset over its expected useful life, a5 follows.. CompLJter Equipment 20% straight line Nurnber of employees The average rnonthly number of employees during the year was one12021-. onel There were no employee5 whose annual remuneration w85 £60,000 or more. During the year, the following payment5 were made to trustees fc>r project related cc>nsultancy fee5 and expen5e5'. 2022 2021 Hazel Curt15 1,212 250 Ashley Mullenger David Steven5 79 35 Adrian Bartlett 170 120 1,632 234 Page 7 Fishing Into The Future Notes to the Accounts For the Year Ended 31 December 2022 Fixed Asset5 Computer Equipment Total Cost At l January 2022 Additions 3,074 3,074 At 31 December 2022 3,074 3,074 Depreciation At l January 2022 Charge for year 1,230 615 1,230 615 At 31 December 2022 1,844 1,844 Net Book Value At 31 December 2022 1,230 1,230 At 31 December 2021 1,844 1,844 Movement in Funds At 31 Dec Funds Funds At 31 Dec 2021 Received Expended 2022 Unrestricted funds General fund 88,047 88,047 89,740 89,740 36,436 36,436 141,351 141,351 Restricted funds The Seafarers, Charity Fass Defra Funding Uni Hull FISP 3,8(10 2,974 42,(100 44.403 32,574 32,576 1,750 1 2,000 68,900 13,226 14,801 1,7501 note I 'note 2 Sunderland Marine 2,000 88,403 6,774 26,278 94,821 178,144 105,336 167,629 note I The Fass Defra Funding has a balance unspent a5 at 31 December 2022 due to a miscalculation in the match funding awarded. This wa5 repaid to the MMO on 28 March 2023. note 2 The overspend on Uni Hull FISP was reimbLJrsed on 27 April 2023. Page 8