REGISTERED CHARITY NUMBER: 1165727
Report of the Trustees
& Unaudited Financial Statements for the Year Ended 31st October 2025 for Aquaculture without Frontiers CIO
Roger Gilbert 7 St George’s Tce St James Square Cheltenham Gloucestershire GL50 3PT
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Aquaculture without Frontiers CIO Contents of the Financial Statements for the Year Ended 31 October 2025
| PAGE | |
|---|---|
| Report of the Trustees | 3-4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6-7 |
| Notes to the Financial Statements | 7 |
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Aquaculture without Frontiers CIO
Report of the Trustees for the Year Ended 31 October 2025
The trustees present their report with the Financial Statements of the Charity for the year ended 31st October 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
1165727 (England and Wales)
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1165727
Principal address: 7 St George's Terrace St James' Square Cheltenham GL50 3PT
Trustees
Appointed
Trustee Name
Roger Gilbert Chair of Trustees 24 February 2016 Tuti Tan 24 February 2016 Simon Birks 24 February 2021 Sven Olaf Malmqvist 14 December 2016 Christopher R Jackson 27 January 2021
Independent examiner
Simon Birks, Olde Oaks, Pound Lane, Rock, Kidderminster, DY14 9 RD
Summary of the Main Achievements of the Charity – 2024-25
Following on from a ‘slow year’ last year (2023-24), the AwF Charity has focused on maintaining its key support activities in Nigeria while promoting itself through the International Aquafeed magazine and attending aquaculture events around the world.
These activities have sustained the Charity and broadened the awareness of it among the fish farming community and the companies working in the aquaculture space globally by building increasing interest in what it can do and achieve.
The Trustees met on a regular bi-monthly basis in 2024-25 to ensure that its specific operations were carried out as planned and that reports were forthcoming from both actual and potential projects, etc. However, it is clear that the industry is fully occupied with responding to changing international geopolitics and the movement of technology and knowhow is the first priority of researchers, institutes and commercial companies alike. There is proving to be little room for donations being made to charitable organisations while the attention of businesses is firmely fixed on maintaining viability.
There was an early attempt in the year to re-introduce the Online Milling School which had offered free spaces to AwF which it could fill in an effort to encourage greater understanding and knowledge around the importance of using properly manufactured feedingstuffs for fish. Despite the encouragement of the Charity it was unable to persuade the re-launch of the School.
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The Charity was able to continue its support of four Nigerian fish farmers in 2024-25, two of whom returned for further funding from a previous rotation. The funds are securely received and spent on providing these selected farmers with fingerlings and feed for a complete rotation. It appears that often small farmers fail due to the shortage of funds to purchase feed towards the end of a rotation and thereby fail to get their fish to the expected harvest weight. The microlending scheme operated by the Charity (farmers are expected to repay the Charity’s funds that it took to provide the fingerlings and the feed through to the point of sale). This helps to bridge that gap and allow farmers to sell heavier and more fish that yield a premium.
The Charity also explored the opportunity for these farmers to begin processing fish for further development of an addedon value so that the price is not settled on the day the fish are harvested. This area of the project is still being discussed but could make for additional and significant added income for these individual operators.
Activities surrounding charitable works and the making of donations have once again slowed and while the intention of AwF was not only to hold regular bi-monthly meetings, which had been adopted by Trustees in 2022 (to replace monthly meetings which was the case leading up to 2020 prior to Covid), it was again clear that even this schedule was unobtainable as little movement was taking place around events and companies responding positively to the goals and objectives being outlined by the Trustees. Many companies most likely to provide donations have had to re-focus their efforts elsewhere as international business comes under increasing pressure.
Dr Mofoluso, our Goodwill Ambassador in Nigeria, once again looks after the funding operation and has applied for further funding for the 2025-26 year with an aim of increasing the number of farms to be supported by an additional two. He is also focused on the possibility of further processing of fish produced to allow farmers to increase their returns and not have to compete on the fresh fish market alone. Our thanks go to him for the hard work he is putting into this project locally. His reports can be found on the AwF CIO website.
We are still looking to Egypt where aquaculture has been a flourishing industry across the country, but which has recently been hit hard by increases in the international prices for feed raw materials. Egypt has a quality fish feed manufacturer who is working with the AwF to foster the establishment of young and motivated people as fish farmers. We are also looking to appoint a Goodwill Ambassador in Egypt to support this effort.
Everything the AwF does depends on raising funds. The Trustees have development a promotional brochure to encourage those within the developed fish farming sectors to support poorer or challenged farmers in developing countries. That promotion started in 2024 by pointing out just how little it costs a farmer to feed his fish for one week.
The Trustees received several approaches for participation in a variety of initiatives, both directly and via other sister AwF Charities throughout the world. These were declined, predominantly on the grounds that they did not meet the objects of our AwF CIO Charity, but the Trustees remain receptive to approaches in relation to appropriate initiatives.
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FINANCIAL REVIEW
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The Charity has received a total of £481.68 in donations in the year
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There have been no payments except bank charges
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All funds received have been banked
Trustees' Responsibilities in Relation to Financial Statements
Charity Law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year.
In preparing those financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Make judgments and estimates that are reasonable and prudent
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State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in business
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993.They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
The Trustees wish to retain sufficient reserves to continue the level of grant making made in recent years, The Trustees consider ibis can be achieved by maintaining the existing level of investments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
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.
ON BEHALF OF THE BOARD
Approved by order of the Board of Trustees on 28 July 2026 and signed on its behalf by
Roger Gilbert (Chairman of Trustees) Date: 30[th] July 2026
Examiner's Report to the Trustees of
Aquaculture without Frontiers CIO
I report on the accounts for the year ended 3Ist October 2024, which are set out on pages four to six.
Responsibilities and basis of the Report
As the Charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'), I have examined the Charity's Accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011Act, My role is to state whether any material matters have come to my attention giving me cause to believe:
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that accounting records were not kept as required by section 130 of the Act; or
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that the accounts do not accord with those records; or
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that the accounts do not comply with the accounting requirements of the Act; or
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that there is further information needed for a proper understanding of the accounts,
Examiner's statement
I have completed my examination and have no concerns in respect of the matters (I) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Christopher Jackson
(UKTAG and BPA, 40B High Street, Trumpington, Cambridge CB2 9LS) Date: 30[th] July 2026
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Aquaculture without Frontiers CIO Statement of Financial Activities for the Year Ended 31 October 2025
| 31-Oct-25 | 31-Oct-24 | ||
|---|---|---|---|
| Unrestricted fund | Total Funds | ||
| Incomingresources fromgenerated funds | |||
| Voluntaryincome | 481.68 | 1150.12 | |
| Total Income | UK£481.68 | UK£1150.12 | |
| Resources expanded | |||
| Charitable activities | |||
| Charitablegiving | 0 | 573.12 | |
| Charitable Activities | 0 | 577 | |
| Governance costs | 40 | 60 | |
| Total resources expanded | 441.68 | 1090.12 | |
| Net Income | UK£441.68 | UK£1090.12 | |
| Net Movement of funds | 441.68 | 1090.12 | |
| Reconciliation of funds | |||
| Total funds brought forward | 7076.12 | ||
| TOTAL FUNDS CARRIED FORWARD | UK£8452.82 | UK£7076.12 | |
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Aquaculture without Frontiers CIO Balance Sheet for the Year Ended 31 October 2025
| 31-Oct-25 | 31-Oct-24 | ||
|---|---|---|---|
| Unrestricted Funds | Total Funds | ||
| Current Assets | |||
| Cash at Bank | 8452.82 | 7076 | |
| Credits | |||
| Amounts due within oneyear | |||
| Nett Current Assets | 8452.82 | 7076 | |
| TOTAL ASSETS less Current Liabilities | UK£8452.82 | UK£7076 | |
| FUNDS | |||
| Unrestricted Funds | 8452.82 | 7076 | |
| TOTAL FUNDS | UK£8~~452.82~~ | UK£7076 |
The financial statements were approved by the Board of Trustees on 28th August 2025 and were signed on its behalf by:
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R Gilbert
(Chairman of Trustees)
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The notes form part of these financial statements
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