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← South Atlantic Environmental Research Institute

2024-06-30-accounts

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Charity Name: South Atlantic Environmental International Advisory Committee TRUSTEES’ REPORT Research Institute (SAERI) Peter Judge MBE (Trustee & Chair) Professor Richard Sanders (Trustee) Charity Registration Number: 1173105 Amanda Curry-Brown (FIG Observer) (England & Wales) Tara Pelembe (Director – International) Trustees’ Annual Report Registered Office Solicitors: Objectives & Activities Falkland House, 14 Broadway Bates Wells Achievements & Performance London 10 Queen St Place SW1H 0BH London Data at SAERI United Kingdom EC4R 1BE United Kingdom Review of Activities Head Office Financial Review Stanley Cottage North, Ross Road Falklands Legal Stanley 1 Barrack Street FIQQ 1ZZ Stanley Falkland Islands FIQQ 1ZZ Independent Auditors Report Falkland Islands The Trustees listed below were Trustees for Audited Financial Statements the whole year ending 30 June 2024 and at Bankers: £- the date this report was approved unless HSBC Bank Plc Limited Notes to the Financial Statements stated otherwise: 250-251 High Street Exeter C Peter Judge MBE – Chair EX4 3PZ Professor Richard Sanders United Kingdom

TRUSTEES’ REPORT’ REPORT REPORT
Charity reference and administrative details 2
Trustees’ Annual Report 4
Objectives & Activities 9
Achievements & Performance 14
Data at SAERI 21
Review of Activities 22
Financial Review 40
Statement of Trustees’ Responsibilities 44
Independent Auditors Report 46
Audited Financial Statements 49
Notes to the Financial Statements 54

C Peter Judge MBE – Chair Professor Richard Sanders Professor Stuart Piertney Dr Teal Riley (Resigned 13 June 2024) Mrs Tracy Satherley Dr Paul Brickle (Resigned 7 December 2023) Amanda Curry Brown – FIG Observer (Left in December 2024)

Standard Chartered Bank

Stanley Branch Stanley FIQQ 1ZZ Falkland Islands

Executive Leadership Team

Dr Paul Brickle- Chief Executive Officer Teresa Bowers - Director of Resources (Left 7th June 2024) Tara Pelembe - Director – International (Left 7th June 2024)

Dr Alastair Baylis - Deputy Director - Science Elaine Boyd - Head of Business & Finance (Started 18th November 2024)

Bank of St Helena

Jamestown St Helena Island

Wise

56 Shoreditch High Street London E1 6JJ United Kingdom

Science Advisory Committee

Professor Richard Sanders (Trustee) Professor Stuart Piertney (Trustee) Dr Paul Brickle (CEO) Dr Alastair Baylis (Deputy Director - Science)

Independent Auditors: PKF Francis Clark Centenary House, Peninsula Park Rydon Lane Exeter EX2 7XE United Kingdom

Front Page image: © Unsplash Image Right & Left: © Dr Jesse van der Grient

2 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 July 2023 to 30 June 2024. The Trustees confirm that the annual report and the financial statements of the Group and the Charity comply with the current statutory requirements, the requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements.

OUR VISION IS TO DELIVER WORLD-CLASS ENVIRONMENTAL RESEARCH FROM THE FALKLAND ISLANDS THAT INFORMS THE EFFECTIVE STEWARDSHIP OF OUR PLANET.

OUR MISSION IS TO GROW A SUSTAINABLE INTERNATIONAL ENVIRONMENTAL RESEARCH INSTITUTE FROM THE FALKLAND ISLANDS THROUGH PARTNERSHIP WORKING TO BUILD CAPACITY AND INFORM THE DELIVERY OF GLOBAL ENVIRONMENTAL STEWARDSHIP.

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TRUSTEES’ ANNUAL REPORT 5

© Dr Megan Tierney

CHAIRMAN’S FOREWORD

It is fitting that I begin this foreword by thanking my Board colleagues for their support throughout the year. We are all volunteers and many of us have been involved for a few years now. We are all dedicated to the success of the SAERI Group and being a board member is not without its demands.

SAERI is lucky. Our Board works together very well. Their talent, together with the firm foundations established in earlier years, allowed us to respond when it emerged during the year that the Charity had experienced a dip in international grant success. Sadly, the financial = e i comes ae position meant we had to make the tough decision to reduce our headcount - with the loss of two talented and long serving members of our senior team. We will always be grateful for the eee a ss work they did to support the SAERI Group evolve and grow. These were difficult but necessary choices. The Board were united in the need to make them and acted promptly and properly.

Whilst we would not have chosen this, it has made us think differently. As a Group we have matured as a result. We now realise more acutely the need to increase and diversify our donor base, the need to ensure that our commercial subsidiary, SAERI (Falklands) Limited (SFL), thrives, so that surpluses can be donated to support the Charity, and the need to grow and develop staff teams in Stanley. The team has risen to the challenge and revealed new a a eel Bie é : és . skills and talents – a joy to see. = -

Throughout this change, the high quality of our science has been undiminished. Our funders wy and donors constantly praise the quality our research work and we contribute to knowledge am and learning through our cited publications and individual PhD success. Our work in the Falklands, elsewhere in the South Atlantic region, and in smaller jurisdictions continues to have real and lasting impact.

We will continue to engage in high value partnerships — both local and international — and these partnerships are vital in making the big ideas possible. We continue to work with the Falkland Island Government and our donors to explore the exciting opportunity for a subAntarctic Science Facility in Stanley, which would be a transformational opportunity for us.

More than anything, this year has reminded me how fortunate we are to have such excellent support from the executive team led by our Chief Executive, Dr Paul Brickle, our Board, the Falkland Islands Government and, most of all the local and academic communities we work with every day. I am proud of what we achieve together every day and the positive impact the SAERI Group has. It is an immense pleasure to chair such an excellent and ambitious Group for another year, and I have every confidence that it will continue to grow from strength to strength.

Peter Judge MBE,

Chairman of the Board

CHIEF EXECUTIVE’S STATEMENT

As Chief Executive, it is a pleasure to reflect on another year of meaningful progress and impactful work. Despite a challenging funding environment and a downturn in grant income, SAERI has continued to grow and evolve, thanks to the guidance and support of a committed Board of Trustees and the dedication of our talented team. Together, we have sustained our momentum as an internationally recognised research institute, operating across the United Kingdom Overseas Territories (UKOTs) in the South Atlantic, the Caribbean, and beyond — all from our base in the Falkland Islands.

Our science output continues to grow year on year. We are proud of the increasing number of peer-reviewed publications emerging from SAERI-led research, which contribute directly to evidence-based decision-making across government, industry, and the non-profit sector. Our research is grounded in real-world application — influencing environmental management, conservation strategies, and sustainable development policies across the regions in which we work.

Our progress is guided by a robust and ambitious five-year strategic plan, delivered through targeted annual business plans. As we approach the end of the current strategic cycle, 2024/25 will be a pivotal year for reflection, learning, and co-creation of our next five-year vision.

Delivering against our strategic goals has brought strong results. This year, SAERI delivered projects across five countries, forged new partnerships, and increased our visibility by participating in a wide range of international conferences and forums. We were also pleased to welcome a new cohort of PhD students, further strengthening our academic reach and capacity.

Our wholly owned subsidiary, SAERI (Falklands) Limited (SFL), continues to perform strongly and provides an increasingly vital stream of unrestricted income. This funding enables us to pursue our charitable objectives with greater flexibility and to invest in innovation, infrastructure, and scientific leadership.

We are particularly proud of our growing international footprint, which is detailed in the International Performance section of this report. I invite readers to explore that section for a deeper understanding of the scale and significance of SAERI’s global engagement.

Looking ahead, we are excited by the opportunities on the horizon. With a new strategic cycle in development, strengthened partnerships, and a renewed commitment to scientific excellence, SAERI is well positioned for the future. It is an honour to lead this organisation and to work alongside so many passionate individuals dedicated to protecting and understanding our planet’s unique environments.

Finally I am looking forward to developing the sub-Antarctic Science facility initiative and making it reality with our Board and colleagues.

Dr Paul Brickle

Chief Executive Officer

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TRUSTEES’ ANNUAL REPORT 7

Objectives for 2023-2024

In the 2023-24 period, SAERI marked its 7th year as an independent Charity with a comprehensive review of our ambitious 5-year strategy. This review was conducted through a trustees’ workshop in September 2023, held in London. At this point, three years into the plan, the Board agreed it was essential to reflect on our progress and assess our achievements in relation to the ambitious targets initially set.

The primary goal of the workshop was to evaluate whether the existing targets were still relevant and achievable. Key outcomes of the discussion included:

» The need for a stronger focus on ensuring that our outcomes are evidence-based and measurable, making them SMART (Specific, Measurable, Achievable, Relevant, and Time-bound).

» The recognition that the workshop’s insights should guide the development of the next strategic phase, ensuring an evolutionary and adaptive approach to the future of SAERI.

» An acknowledgement of the significant global impact that a small research institute in the South Atlantic, like SAERI, can have, underscoring the importance of celebrating the achievements of small island nations in delivering international programs.

Policy Review

No new policies were developed this financial year. SAERI staff will review current and new draft policies in 2024/25.

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TRUSTEES’ ANNUAL REPORT 9

Objective 2 – Science, Research and Quality Assurance

ACHIEVING OUR OBJECTIVES

Objective 1 – Pathways to Impact

At the core of SAERI’s scientific and academic research projects is the commitment to delivering purposeful, high-quality science. The Institute’s success and long-term sustainability depend on its ability to engage key stakeholders, ensuring that our science leads to positive change and enhances understanding of the environment. By delivering evidence-based science and effective communication, SAERI aims to improve economies and society.

New Collaborative Partnerships:

At the start of the year, a broad set of ambitious goals was outlined, many of which have been successfully achieved. Some key highlights include:

» An MoU with iBASE (Instituto Milenio – Biodiversidad de Ecosistemas Antárticos y subAntárticos) is in development, setting the stage for an extensive collaboration network across the sub-Antarctic and Antarctic regions.

» Our ongoing efforts in Namibia have expanded to include investigations into protected areas on the Walvis Ridge, extending beyond Areas of National Jurisdiction.

As a scientific institute, our reputation is built on the research we conduct and the quality of the outcomes we produce. Quality Assurance in Research (QAR) encompasses the methods, systems, and resources employed to ensure that research is carried out with the utmost care and control.

“Developing resources for managing TCI’s most threatened keystone marine species” and “TCI Blue Carbon Ecosystem (Seagrass) assessment: Evidence, People, and Policy,” among others.

Each year, our scientists strive to enhance the visibility of our peer-reviewed publications in highimpact scientific journals. The Science Advisory Committee has made significant progress in offering valuable insights and guidance on how we measure our scientific output moving forward.

Objective 3 – Size and Performance

To design our roadmap, we first needed a clear understanding of what it takes to become a leading scientific institute. By assessing our size and performance, we’ve established key metrics that align with our Annual Business Plan, ensuring we meet our objectives over the next five years. Size plays a crucial role—there must be enough capacity to drive meaningful impact and weather leaner years, without becoming overly bureaucratic or inflexible.

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Objective 4 – Business Plan & Reputation

Notable achievements include:

SAERI’s Annual Business Plan translates our Strategic Objectives, strategies, and activities into manageable, actionable steps, driving the successful implementation of our five-year plan. This approach enables us to set clear performance metrics and ensures that every member of the organisation understands their role in achieving our goals. The plan also keeps us agile in the face of changing and challenging circumstances, allowing us to respond quickly to unexpected events. Our strategic aims include the establishment of SMART performance indicators, strong governance, excellent financial management (including audits), effective communication tailored to stakeholders, scientists, and the broader community, and the continued development and maintenance of our reputation as a world-class institute.

» A rethink of SAERI’s facilities and Gateway Science Centre and will involve a location with existing ground works and services.

» Legal, Regulatory and statutory compliance at organisational and Board level continues to be achieved well.

» Streamlining internal communication tools is essential and we have employed online Project Management systems and continue to increase the utility of our online HR systems

» Implementation of a PR Plan.

Objective 5 – SAERI (Falklands) Limited (SFL)

SFL is a fully owned subsidiary of SAERI, established to engage in commercial activities that not only provide a platform for applying SAERI’s research in real-time but also contribute to the Institute’s financial sustainability by donating profits back to SAERI to cover core costs. This aligns with SAERI’s Pathways to Impact objectives. The strategic vision for the subsidiary is to ensure that a significant portion, if not all, of SAERI’s core expenses are funded through donations and revenue recoveries. Additionally, SFL applies SAERI’s scientific outputs to client projects, leveraging the Institute’s specialized resources—both personnel and equipment—whenever possible. A key focus is to uplift the local community through capacity-building efforts, involving local talent in our projects where feasible. Ultimately, we aim to position both SAERI and SFL as leading experts in environmental stewardship, particularly in small island settings.

» SFL continues to diversify its income streams both within the Falkland Islands and across other Overseas Territories. This includes the formation of a new joint venture, South Atlantic Laboratories Ltd, which will provide fish and squid ageing services to the Falkland Islands Government (FIG). This company is set to be established in the 2024/25 financial year.

» SFL has become the go-to organization for Environmental Baseline Surveys, Environmental Baseline Descriptions, and Environmental Impact Assessments in the Falkland Islands.

» We remain committed to offering GIS courses, continuing to build capacity and expertise in this essential field.

Activities for achieving our objectives

This financial year marked the official launch of our Annual Business Planning cycle, allowing us to sharpen our focus on key priorities. SAERI remains committed to delivering world-class scientific research and academic support from the Falkland Islands. Our strategy—and, by extension, our Annual Plan—sets ambitious five-year goals, with annual objectives designed to drive progress toward these long-term targets.

SFL continues to provide essential funding to SAERI by gifting profits and utilising SAERI’s expertise for specialist contributions to SFL projects—all while maintaining an arm’s-length approach. This structure ensures stable, unrestricted funding while fostering real-time integration of scientific insights into practical applications beyond academia, benefiting both organisations.

Main activities undertaken to further the Charity’s purposes for the public benefit

SAERI remains committed to advancing education, research, environmental protection, and sustainable development through its scientific and academic programs. Our strong portfolio of grants and projects within SFL reflects the confidence of funders in our ability to deliver meaningful impact—not only for public benefit but also in shaping global environmental stewardship.

Beyond research, SAERI actively fosters academic excellence through its PhD program. This year, we reinforced our commitment to developing scientific talent by finalising our Fellowship program and launching a Masters working group. This initiative connects science students across our operating territories and beyond, promoting collaboration and knowledge exchange.

In September 2023, the Board undertook a comprehensive review of our ambitious five-year strategy during a trustees’ workshop in London. The primary objective was to assess the relevance and feasibility of our existing targets, ensuring they remain aligned with our mission and long-term vision.

© Unsplash, Samual Arkwright

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TRUSTEES’ ANNUAL REPORT 13 > $< =

ACHIEVEMENTS & PERFORMANCE

ACADEMIA

This year, SAERI’s academic and research base consisted of 8 PhD students. We also published 16 peer-reviewed papers in high impact Science Journals.

AMY GUEST

Shallow Sub-tidal Ecology and Biogeography of the Falkland Islands. University of Aberdeen, University of Magallanes, University of Chile and SAERI

This PhD project explores the biodiversity of shallow sub-tidal invertebrates in the Falkland Islands at depths of 0–5m, focusing on spatial and temporal patterns. Hummock Island serves as a case study to examine the impact of eroded peat on benthic communities, with early findings indicating reduced diversity and filterfeeder presence in peat-affected areas. Additionally, the project investigates population connectivity and phylogeography of two Falkland Sea star species to understand the region’s role as a marine refugium during the Pleistocene.

Key Achievements

Community outreach efforts included participation in events, Farmers Week Expo, “Peaty Pals” talk, hosting school students for work experience, and co-organizing World Ocean Day. These activities aimed to raise awareness of marine research conducted at SAERI.

ALIX KRISTIANSEN

Ecology of the Falkland Steamer Duck (FSD). Deakin University, Ghent University and SAERI

Research on Falkland Steamer Ducks (FSD) has primarily focused on their morphology, with limited understanding of their population size, habitat needs, and ecology. To address these gaps, her second field season (September 2023–March 2024) focused on tagging, tracking, and diet analysis around Stanley Harbour and Bleaker Island.

Key Achievements

Data analysis is ongoing, including a draft on activity budgets and territory use in contrasting habitats. Efforts to model the species’ distribution are in progress, contributing to a deeper ecological understanding of the Falkland Steamer Duck.

DANNI THOMPSON

Drivers of individual foraging behaviour specialisation in a model seabird, the Falkland Islands Shag (Leucocarbo atriceps albiventer). University of Aberdeen, Queens University Belfast and SAERI

This research investigates how intraspecific competition and environmental variation shape individual specialisation in the foraging behaviours of Falkland Islands Shags, with implications for survival, reproductive success, and population-level susceptibility to anthropogenic threats. Using bio-logging and diet analysis, the study examines consistent behavioural differences and plasticity among individuals.

Key Achievements

This work contributes to understanding individual variation and its ecological and evolutionary implications, supporting species conservation efforts.

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TRUSTEES’ ANNUAL REPORT 15

ELYSE PARKER

Investigating the drivers of diversification in a non-Antarctic notothenioid radiation. Yale University and SAERI.

Notothenioids dominate Antarctic and sub-Antarctic waters, constituting ~90% of fish biomass on the Antarctic continental shelf. The genus Patagonotothen, a diverse clade within the notothenioid adaptive radiation, has undergone rapid evolutionary diversification in South American Patagonian waters, though the drivers of this diversification remain unclear. Elyse’s objectives include 1) the use of molecular and morphological data to determine species boundaries and to work out evolutionary relationships amongst Patagonotothen and 2) To integrate data on phylogeny, phenotype, and ecology in order to characterize evolutionary dynamics of trait disparity within the radiation.

Key Achievements

» Defended dissertation on “Drivers and Dynamics of Diversification in the Antarctic Notothenioid Adaptive Radiation”, graduating with her PhD in December 2023.

» Photographed Patagonotothen specimens for geometric morphometric analysis and extracted whole-genomic DNA from ~200 tissue samples for molecular phylogenetic analysis.

» Collected CT scans (April–June 2024) of 19 specimens representing nine Patagonotothen species to create a 3D morphometric dataset on skull and feeding structure variation.

KATY ROSS

Sheep vs Sealions – Quantifying the human impacts on greenhouse gas emissions and carbon stock of Falkland Island peatlands – University of Leicester, Natural History Museum, Centre of Ecology & Hydrology and SAERI.

The Falkland Islands have extensive peatlands, but their role in greenhouse gas (GHG) emissions remains unclear due to a lack of direct measurements. Katy’s research aims to quantify GHG emissions from these peatlands, assess the impact of land use on GHG fluxes, and explore underlying drivers through organic geochemistry and microbiology. She plans to scale her findings to the broader Falklands landscape.

Key Achievements

Katy worked at the Natural History Museum extracting and sequencing DNA from soil bacteria. She has shared her research widely, presenting at the British Ecological Society, the European Geosciences Union, and through the Natural History Museum’s media platforms. She is now taking a hiatus to work as a research fellow for the British Government, planning to resume her PhD in April 2025.

LYDIA BRACKWELL

Investigating the threat of non-native hitchhikers on kelp rafts to shallow Antarctic marine communities. Energy and Environment Institute, University of Hull British Antarctic Survey and SAERI.

Kelps, covering 25% of coastlines, are vital for biodiversity, ecosystem function, and habitat provisioning. Detached kelp can form rafts, with an estimated 70 million floating in the Southern Ocean, capable of transporting organisms over 10,000 km. These rafts may maintain population connectivity in the sub-Antarctic and Antarctic but pose a risk of introducing non-native species to Antarctica, especially with climate-driven changes to ocean currents.

To assess these risks, it is crucial to study kelp-associated biodiversity in the Falkland Islands, species surviving rafting journeys, and their potential to adapt to Antarctic conditions under current and future climates.

Key Achievements

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TRUSTEES’ ANNUAL REPORT 17

ACADEMIC PAPERS

RHIAN TAYLOR

Seasonal variations in the zooplankton and ichthyoplankton community composition for the near-shore environment of the Falkland Islands. University of Aberdeen and SAERI

Zooplankton play a crucial role in marine ecosystems, transferring energy through food webs. Despite their importance, there is limited research on Falkland Islands zooplankton, their seasonal community changes, or their role as a nursery ground for larval fish (ichthyoplankton). This PhD focuses on understanding zooplankton community structure, trophic interactions, and energy transfer to offshore species.

Key Achievements

STEPHEN GILLANDERS

European Earwig in the Falklands: How Big is the Threat? – University of Aberdeen, Agri-Food and Biosciences Institute, Queen’s University Belfast and SAERI

The invasive European earwig was first detected in the Falkland Islands in the 1990s and is now widespread in urban and wild areas. Known for its generalist feeding habits and adaptability, this species poses potential risks to sensitive native species and ecosystem functions. The ecological impacts of this invasion have not been investigated. Its impacts have made it a species of concern for the Falkland Islands Government.

Key Achievements

The study combines ecological research, community involvement, and molecular techniques to address the invasion’s impacts and inform sustainable management strategies. It will also contribute to the creation of a genetic library for future studies.

1 July 2023 - 30 June 2024 (in alphabetical order)

N; Bell, JB; Bernardino, AF; Beuck, 11. McComb-Turbitt SP, Crossin L; Braga-Henriques, A; Brandt, A; GT, Tierney M, Brickle P, Trathan Bravo, ME; Brix, S; Butt, S; Carranza, P, Williams TD, Auger-Méthé M. A; Doti, BL; Elegbede, IO; Esquete, P; (2023). Diving efficiency at depth Freiwald, A; Gaudron, SM; Guilhon, and pre-breeding foraging effort M; Hebbeln, D; Horton, T; Kainge, increase with haemoglobin P; Kaiser, S; Lauretta, D; Limongi, levels in gentoo penguins. Mar P; Mcquaid, KA; Milligan, RJ; Ecol Prog Ser 722:1-17. https://doi. Miloslavich, P; Narayanaswamy, org/10.3354/meps14441 BE; Orejas, C; Paulus, S; Pearman, TRR; Perez, JAA; Ross, RE; Saeedi, H; 12. Riaz, J., Orben, R.A., Jones, K.A., Shimabukuro, M; Sink, K; Stevenson, Shapiro, M., Winter, A., Brickle, P. and A; Taylor, M; Titschack, J; Vieira, Baylis, A.M. (2023). Spatial overlap RP; Vinha, B; Wienberg, C. (2023). between South American fur seal Review of the central and South foraging effort and commercial Atlantic shelf and deep-sea trawl fisheries in the Falkland benthos: science, policy, and Islands. Global Ecology and management. oceanography and Conservation, 46, p.e02615. https:// marine biology: an annual review, doi.org/10.1016/j.gecco.2023.e02615 VOL 61

  1. Amon, D.J., Palacios-Abrantes, J., Drazen, J.C., Lily, H., Nathan, N., van der Grient, J.M. and McCauley, D. (2023). Climate change to drive increasing overlap between Pacific tuna fisheries and emerging deepsea mining industry. npj Ocean Sustainability, 2(1), p.9. https://doi. org/10.1038/s44183-023-00016-8

  2. Assis, J., Alberto, F., Macaya, E.C., Castilho Coelho, N., Faugeron, S., Pearson, G.A., Ladah, L., Reed, D.C., Raimondi, P., Mansilla, A. and Brickle, P. (2023). Past climatedriven range shifts structuring intraspecific biodiversity levels of the giant kelp (Macrocystis pyrifera) at global scales. Scientific Reports, 13(1), p.12046. https://doi. org/10.1038/s41598-023-38944-7

  3. Spoth, M., Hall, B., Lowell, T., 7. Büring T, van Der Grient J, Pierce Diefendorf, A.F., Corcoran, M.C. G, Bustamante P, Scotti M, Jones and Brickle, P. (2023). Tracking the JB, Rocha F, Arkhipkin A (2024). southern hemisphere westerlies Unveiling the wasp-waist structure during and since the last glacial of the Falkland shelf ecosystem: maximum with multiproxy lake the role of Doryteuthis gahi as a records from the Falkland Islands keystone species and its trophic (52 S). Quaternary Science influences. Journal of the Marine Reviews, 311, p.108135. https://doi. Biological Association of the United org/10.1016/j.quascirev.2023.108135 Kingdom 104, e2, 1–27. https://doi. org/10.1017/S0025315423000887 14. Tichit, P., Roy, H. E., Convey, P.,

  4. Baco AR, Ross R, Althaus F, Amon D, Bridges AEH, Brix S, Buhl-Mortensen P, Colaco A, Carreiro-Silva M, Clark MR, Du Preez C, Franken M, Gianni M, Gonzalez-Mirelis G, Hourigan T, Howell K, Levin LA, Lindsay DJ, Molodtsova TN, Morgan N, Morato T, Mejia-Mercado BE, O’Sullivan D, Pearman T, Price D, Robert K, Robson L, Rowden AA, Taylor J, Taylor M, Victorero L, Watling L, Williams A, Xavier JR, Yesson C. (2023). Towards a scientific community consensus on designating Vulnerable Marine Ecosystems from imagery. PeerJ 11:e16024 https://doi.org/10.7717/ peerj.16024

  5. Tichit, P., Roy, H. E., Convey, P., Brickle, P., Newton, R. J., & Dawson, W. (2023). First record of the introduced ladybird beetle, Coccinella undecimpunctata Linnaeus (1758), on South Georgia (sub-Antarctic). Ecology and Evolution, 13, e10513. https://doi. org/10.1002/ece3.10513

  6. Chosson V, Randhawa HS, Sigurðsson GM, Halldórsson SD, Björnsson ÞÞ, Svansson V, Granquist SM, Gunnarsson K, Samarra FIP, Pampoulie C. (2023). First record of Risso’s dolphin Grampus griseus (Cuvier, 1812) in Icelandic waters. Ecol Evol. Aug 31;13(9):e10477. doi: 10.1002/ ece3.10477. PMID: 37664493; PMCID: PMC10468979.

  7. Bayley, D. T. I., Brewin, P. E., James, R., McCarthy, A. H., & Brickle, P. (2024). Identifying marine invasion threats and management priorities through introduction pathway analysis in a remote subAntarctic ecosystem. Ecology and Evolution, 14, e11299. https://doi. org/10.1002/ece3.11299

  8. Aug 31;13(9):e10477. doi: 10.1002/ 15. Tichit P, Brickle P, Newton RJ, ece3.10477. PMID: 37664493; PMCID: Convey P, Dawson W. (2024). PMC10468979. Introduced species infiltrate recent stages of succession after

    1. Glon, H., Häussermann, V., Brewin, glacial retreat on sub-Antarctic P.E., Brickle, P., Kong, S., Smith, South Georgia. NeoBiota 92: M.L. and Daly, M. (2023). There 85–110. https://doi.org/10.3897/ and back again: the unexpected neobiota.92.117226 journeys of Metridium de Blainville, 1824 between the old oceans and 16. Zanker, J. C., Young, E., Holland, throughout the modern world. The P. R., Haigh, I. D., Brickle, P. (2024). Biological Bulletin, 244(1), pp.9-24. Oceanographic variability https://doi.org/10.1086/723800 in Cumberland Bay, South

    2. Zanker, J. C., Young, E., Holland, P. R., Haigh, I. D., Brickle, P. (2024). Oceanographic variability in Cumberland Bay, South Georgia, and its implications for glacier retreat. Journal of Geophysical Research: Oceans, 129, e2023JC020507. https://doi. org/10.1029/2023JC020507

  10. Baylis, A. M. M., Jones, K. A., & Orben, R. A. (2024). Intraguild predation in pinnipeds: Southern sea lions prey upon adult female South American fur seals in the Falkland Islands. Marine Mammal Science, 40(2), e13098. https://doi. org/10.1111/mms.13098

  11. Lee B, Skeljo F, Randhawa HS, Brownscombe W, Arkhipkin A . (2024). Early life-history patterns in Patagonian toothfish Dissostichus eleginoides from the Patagonian Shelf. Mar Ecol Prog Ser 726:131-148. https://doi.org/10.3354/meps14473

  12. Bridges, AEH; Howell, KL; Amaro, T; Atkinson, L; Barnes, DKA; Bax,

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TRUSTEES’ ANNUAL REPORT 19

DATA AT SAERI

CROSS-CUTTING DATA SOLUTIONS

The Data Centre underwent a rebrand in 2023 and is now the Environmental Data Solutions (EDS) Centre providing support to the Falkland Islands Government and other Falkland Islands organisations and international projects.

The EDS uses a solutions-based approach to provide Geographic Information System (GIS) and data management solutions in both the Falkland Islands and abroad, expanding its suite of services to include new data services and tools which aim to enhance the work of data users on the islands. Not only does the Centre support SAERI’s research projects in the Falklands and abroad, FIG and work with visiting researchers to the Falklands, it also provides intrinsic support to SFL, providing data collection and analysis services to its commercial projects, at arm’s length. The Data Centre has been instrumental in changing the way citizens and spatial data users are able to access, view and use data as part of their decision-making.

DATA CENTRE - FALKLANDS OPERATION

In 2024, SAERI’s EDS Centre provided key services to FIG, including:

» Expanding the application of UAVs for environmental monitoring and research. This includes the purchase of more capable UAVs and better quality photogrammetry, thermal and LiDAR cameras, and refining work flows for data processing.

DATA CENTRE - INTERNATIONAL OPERATION

SAERI’s EDS Centre has continued to expand its international reach, supporting multiple UKOTs and global initiatives:

» Knowledge Exchange Platform – A virtual forum where GIS practitioners from SAERI-affiliated projects share expertise and best practices through monthly discussions and collaborative initiatives.

TRUSTEES’ ANNUAL REPORT 21

REVIEW OF ACTIVITIES

With a highly successful previous year, SAERI embarked on a new year focused on fulfilling ambitious targets with efficiency and enthusiasm. Our team excelled, consistently delivering top-notch project outcomes. Here’s a summary of the accomplishments we celebrated.

RESEARCH PROJECTS

Data Driven Solutions to Land Territories Falkland Islands Management and Climate Change ~~———~~ Adaptation (DPL00020) ~~SSQ\Q_\jj=~~ Project Manager Chris Bean Funding organisations Funded by the UK Government through Darwin Plus Local. ~~J+~~ Implementing effective climate Project Partners Falkland Islands Government adaptation strategies (Department of Agriculture)

Implementing effective climate Project Partners Falkland Islands Government adaptation strategies (Department of Agriculture) is complex, requiring collaboration among diverse stakeholders, high- Project Progress: quality long-term data, This year saw significant progress in data auditing, and strong governance to stakeholder engagement, and the development of new we) \ ensure continuity. Successful tools to support land use and climate change adaptation adaptation integrates topin the Falklands. Key activities included data collation, down policy with local expertise, relies on GIS education initiatives, stakeholder workshops, and the predictive modelling, and involves continuous creation of new digital resources. A key milestone was the monitoring to minimize maladaptation risks. completion of all reporting in June, marking a successful The Darwin Local project “Data-Driven phase of the project. Key achievements include: Solutions to Land Management and Climate Change Adaptation – DPL00020” contributes » GIS Day – Engaged local students in map-making to this process in the agricultural sector. It activities focused on local farms. consolidates existing research, develops tools, identifies research gaps, and provides » Work Experience – Introduced two students to GIS and theoretical frameworks to support sustainable climate change mapping. and effective climate adaptation strategies. This project is a key step in building » Stakeholder Workshop – Hosted a workshop with Stakeholder Workshop – Hosted a workshop with capacity for land use and climate resilience.

» Stakeholder Workshop – Hosted a workshop with Stakeholder Workshop – Hosted a workshop with Falkland Islands Government departments to identify research and land use opportunities.

» Data Audit – Completed a full audit of the Department of Agriculture’s internal data.

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||| |---|---| |Territories|Falkland Islands| |Project Manager|Dr Javed Riaz| |Funding organisations|Funded by the UK Government| |through Darwin Plus| |Project Partners|Falkland Islands Government| |Department of Natural Resources| |– Fisheries (DNR-Fisheries),| |Falkland Islands Fishing| |Companies Association (FIFCA)|

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Understanding Increased FI Seal Bycatch to Inform Bycatch Action Plan (DPLUS168)

ay This project, developed in partnership with government and industry, aims to understand and mitigate the rising sealfishery interactions in the Falkland Islands, where » South American fur seals are globally significant. With a ~900% increase in interactions in recent years, the project will use seal-fishery-environmental datasets to inform conservation and fisheries management. Key objectives include deploying net cameras for monitoring, identifying interaction patterns, analysing contributing factors, and developing a trophodynamic model to assess dietary changes over time.

Project Progress:

The past year saw significant advancements in the seal bycatch project. In August, researchers spent three weeks on Bird Island deploying satellite tags on 19 South American fur seals, providing unprecedented data on their foraging behaviour and habitat use. Key achievements include:

» Dr. Javed Riaz presented findings at the International Biologging Science Symposium in Tokyo, receiving positive feedback.

» Publications with two open-access articles in Global Ecology and Conservation and Ecography, and another under review in the International Journal of Marine Science.

» Seal-fishery interactions occur in over 30% of Loligo trawl operations, with over 500 bycatch events recorded in the past five years.

Increasing Environmental Monitoring Capacity on FI: A Thermal Imaging UAV (DPL00047)

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||| |---|---| |Territories|Falkland Islands| |Project Manager|Jack Ingledew-Gale| |Funding organisations|Funded by the UK Government| |through Darwin Plus Local|

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The project aims to or ~~a~~ enhance SAERI’s research capabilities in the Falkland pn ey i Islands by using a thermal Project Progress: imaging UAV. Success In February 2024, a UAV was used for critical environmental | <a monitoring in the Falkland Islands, demonstrating its will be measured through improved agriculture, effectiveness in wildlife disease surveillance and fire detection. PE energy efficiency, wildlife Key achievements include: management, environmental » monitoring, and oil spill response. A UAV was deployed to scan for Avian Influenza on

Project Progress: In February 2024, a UAV was used for critical environmental monitoring in the Falkland Islands, demonstrating its effectiveness in wildlife disease surveillance and fire detection. Key achievements include:

22 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

TRUSTEES’ ANNUAL REPORT 23

Understanding Wildlife Population Connectivity and Potential Routes of Disease Transmission (DPL00080)

This scoping study will provide the first baseline data on the movements of the Falkland Islands’ Southern Giant Petrels, which make up over 40% of the global population. As key scavengers, these birds influence food webs and disease transmission, yet their population remains largely unstudied. By assessing their connectivity and potential disease transmission routes, this research will lay the groundwork for a larger project on Highly Pathogenic Avian Influenza and scavenger movements, expected to begin in late 2025. The findings will be crucial for understanding and protecting this important species and its role in the ecosystem.

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||| |---|---| |Territories|Falkland Islands| |Project Manager|Dr Alistair Baylis| |Funding organisations|Funded by the UK Government| |through Darwin Plus Local.| |Project Partners|Oregon State University|

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Project Progress:

This year marked significant progress in the first-ever study of Southern Giant Petrel movements in the Falkland Islands. Despite the challenges of tracking these shy birds, satellite tags were successfully deployed with the support of expert collaborators, including Dr. Amandine Gamble. Early data reveal a mix of localised individuals and wide-ranging movements across the Patagonian Shelf. Petrels were tagged at penguin colonies with suspected or confirmed HPAI, providing valuable insights into scavenger connectivity and disease transmission. This pioneering research is a crucial step toward understanding the species’ ecology and informing future conservation efforts.

4 Southern Giant Petrels tracked to date. Image left: Each coloured line represents a different individual bird.

Assessing Terrestrial Climate Change Impacts on a Sub-Antarctic Archipelago (DPL00039)

This project focuses on mo SS assessing the impacts of climate change on the terrestrial ecosystems of South Georgia and the South Sandwich Islands (SGSSI), which are home to globally important biodiversity. While these remote islands are largely protected, climate change and other threats, like invasive species, pose significant risks to their ecosystems. After the designation of SGSSI as a Terrestrial Protected Area (TPA) in 2022, there was a need for a comprehensive assessment of the terrestrial environment. This project aims to evaluate future ecological changes and potential management strategies, providing evidence-based recommendations for monitoring and mitigating climate change impacts in the TPA.

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||| |---|---| |Territories|South Georgia and South| |Sandwich Islands| |Project Manager|Dr Rob Mrowicki| |Funding organisations|Funded by the UK Government| |through Darwin Plus Local| |Project Partners|Government of South Georgia and| |South Sandwich Islands (GSGSSI),| |and British Antarctic Survey (BAS)|

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Project Progress:

This project aimed to improve understanding of climate change impacts on South Georgia and the South Sandwich Islands (SGSSI) and inform future management strategies. Led by Project Manager Rob Mrowicki, the project involved a comprehensive review of scientific evidence and a confidence assessment, which culminated in an impact assessment report published in February 2024. Key findings were shared with stakeholders through workshops in the UK and meetings with Falklands-based GSGSSI representatives. Key highlights include:

» Development of an impact assessment framework tailored for SGSSI’s unique needs.

» Integration of findings from the sub-Antarctic and maritime Antarctic regions to determine climate change impacts on SGSSI terrestrial ecosystems.

Developing an Emissions Reduction Strategy in the Falkland Islands Fishing Industry

Fisheries account for 4% of global food production emissions, highlighting the need for sustainable ° practices. In the Falkland Islands, no baseline exists 7 to measure fleet emissions, despite recent upgrades in vessels, engines, and hull designs aimed at improving efficiency. Establishing this baseline is essential to . track emission reduction efforts.progress and evaluate

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||| |---|---| |Territories|Falkland Islands| |Project Manager|Dr Paul Brickle (Lead) & Dr Paul| |Brewin| |Funding organisations|The Falkland Islands Trust| |Project Partners|Falkland Islands Fishing| |Companies Association (FIFCA)|

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Project Progress: Efforts are underway to monitor and reduce emissions in the Falklands fishing industry. Key developments include:

» Vessel-specific data has been provided by the fishing industry for emissions calculations.

» SAIS data has been purchased, and emissions calculations have begun.

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© Shallow Marine Surveys Group > 2S . 7.
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» A database is being developed to help companies track their own emissions.

» In March, Paul Brewin engaged with emission reduction experts in the UK and shipyards in Vigo, Spain, to explore strategies for lowering emissions in the Falklands fleet.

» As the project nears completion, a workshop will be held to present findings and develop a roadmap for emission reductions.

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TRUSTEES’ ANNUAL REPORT bj 7 4> bac 25
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24 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

Climate Resilience in the Falkland Islands Fisheries and Marine Ecosystem (DPLUS148)

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|||||| |---|---|---|---|---| |Territories|Falkland Islands| |Islands Fisheries and Marine| |Ecosystem (DPLUS148)|Project Manager|Dr Jesse van der Grient| |Funding organisations|Funded by the UK Government| |through Darwin Plus and| |Climate|change|poses|a|Falkland Islands Government’s| |significant threat to marine|Environmental Studies Budget| |ecosystems|globally,| |impacting|species|Project Partners|British Antarctic Survey (BAS),| |populations|and|their|Oregon State University (OSU),| |interactions,|which|in|Shallow Marine Surveys Group| |turn alters the ecosystem|(SMSG), Falkland Islands| |services they provide, such as|Government (FIG), Falkland| |fisheries support. The Falkland|Islands Fishing Companies| |Islands’ fisheries, crucial to the local economy,|Association (FIFCA)| |could also face adverse effects from climate| |change. This project explores how key species|Project Progress:| |in the Falklands’ marine ecosystem respond|This project continues to explore the dynamics of the| |to ocean warming, how these changes could|Falkland Islands’ marine ecosystems, focusing on the| |disrupt the food web, and what this may|impacts of climate change and ocean warming. Over the| |mean for local fisheries. Gaining a better|course of the year, we expanded our knowledge on the| |understanding of these shifts will help develop|marine food web, including key species like zooplankton| |potential mitigation strategies for ensuring a|and Patagonian squid, and investigated how these species| |sustainable future.|

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This project continues to explore the dynamics of the Falkland Islands’ marine ecosystems, focusing on the impacts of climate change and ocean warming. Over the course of the year, we expanded our knowledge on the marine food web, including key species like zooplankton and Patagonian squid, and investigated how these species respond to environmental changes. Through a combination of field surveys, laboratory experiments, and modelling, this research aims to inform future fisheries management and climate change adaptation strategies. Key developments include:

» Zooplankton sampling continued, bringing the total number of survey tracks to 135, with an emphasis on morphological and genetic analyses to understand spatial and temporal patterns.

» A major discovery was made regarding the Patagonian squid (Doryteuthis gahi), which was previously thought to only lay eggs in shallow waters on kelp but has been found to lay eggs in deeper waters on rocks up to 46 meters.

» An ecosystem model replicating historical trends was constructed to investigate potential responses to climate change in the Falklands’ marine food web.

» A review on ecosystem-based fisheries management and climate change adaptation was conducted, followed by a successful workshop, led by Dr van der Grient with stakeholders from government, fisheries, and science.

Improving risk understanding and protocols for inspection of vessels to mitigate the spread of marine nonnative species to South Georgia & South Sandwich Islands

This project focuses on assessing the impacts of climate change on the terrestrial ecosystems of South Georgia and the South Sandwich Islands (SGSSI), which are home to globally important While these

biodiversity.

remote islands are largely protected, climate change and other threats, like invasive species, pose significant risks to their ecosystems. After the designation of SGSSI as a Terrestrial Protected Area (TPA) in 2022, there was a need for a comprehensive assessment of the terrestrial environment. This project aims to evaluate future ecological changes and potential management strategies, providing evidencebased recommendations for monitoring and mitigating climate change impacts in the TPA.

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||| |---|---| |Territories|South Georgia & the South| |Sandwich Islands| |Project Manager|Dr Siobhan Vye| |Funding organisations|Government of South Georgia and| |South Sandwich Islands (GSGSSI)| |Project Partners|British Antarctic Survey (BAS)|

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Project Progress:

The project is collecting data on biofouling indicators—such as vessel speed, port stops, and antifouling treatments—on ships operating in the SGSSI maritime zone. Key developments include:

» Initial surveys have been conducted on yachts, research vessels, fishing boats, and cruise ships.

» Experiments are currently underway in a mini cold laboratory to determine whether species can survive the temperature fluctuations encountered during transit and in the frigid waters of South Georgia. Dr Simon Morley from the British Antarctic Survey has been instrumental in initiating the experiments and sharing his expertise in physiological research.

» The first experiment was completed in March 2024, with more planned for the austral winter.

» The project received two local grants, the Shackleton Fund and the John Cheek Trust, to further support work on food-web interactions and genetic analyses for Falkland’s jellyfish and other gelatinous zooplankton.

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TRUSTEES’ ANNUAL REPORT 27

© Dr Valeria Mazzola, SAERI

Fishery Dynamics and variability of Illex argentinus Recruitment in the Southwest Atlantic with Specific Focus on Falkland Island Conservation Zones: A Remote Sensing and Fisheries Approach

Territories Falkland Islands Project Manager Dr Tobias Büring Funding organisations Atlantic Catch Limited

Funding Organisations Atlantic Catch Limited, British Antarctic Survey (BAS), Falkland Islands Government (FIG)

This project aims to investigate the relationship between Project Progress: fishing behaviour and The study confirmed that Illex argentinus abundance is oceanographic factors, as well as the distribution and influenced by temperature and ocean fronts, but also identified additional factors like micronekton abundance, abundance of Argentine sea surface height, and eddy density. Neural networks shortfin squid (Illex outperformed traditional models in forecasting temporal argentinus) in the Falkland abundance, demonstrating their potential for predicting the Islands and Southwest Atlantic. spatio-temporal distribution of squid. Key developments and findings include:

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argentinus) in the Falkland abundance, demonstrating their potential for predicting the
Islands and Southwest Atlantic. spatio-temporal distribution of squid. Key developments
It will explore how fishing behaviour and catch and findings include:
are influenced by oceanographic conditions
while trying to understand the factors affecting » Data Gathering: CPUE, derived from Falkland Islands
the inter-annual distribution of squid abundance Fisheries data, and Copernicus environmental data were
in the Falkland Islands compared to the wider used to explore factors influencing squid abundance
Southwest Atlantic. The project will also assess through multivariate statistics.
whether modelling can predict recruitment
success before the main Illex season in the » Spatial Distribution: Squid abundance in the FI Zone was
region and the Falklands. highest in the west, correlating with temperature and
zooplankton abundance.
» Temporal Abundance: Ocean eddy density and sea
surface height influenced temporal abundance, with
delayed effects of temperature and zooplankton
abundance on CPUE.
» Neural Networks for Forecasting: Neural networks
accurately forecasted squid abundance, with the best
model using temperature, zooplankton, and ocean
fronts. Zooplankton was the best predictor for new data.
GAMs were useful for exploring factors but less effective
for forecasting.
©Jack Ingledew-Gale , SAERI
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Improving Falkland Peatland GHG Data: Understanding Carbon Sequestration and Offsetting Feasibility

This project focuses on -~ uep aEEN2 roae4)a~"fas — assessing dynamics Islands’ peatlands, which the of Falkland carbon a — f 4- ~ . ~ 1fa= == = but are threatened by are among the largest carbon reserves globally 4 : climate change and livestock grazing. The research, supported by Defra and the Falkland Islands Government, involves analysing greenhouse gas emissions (CO2, CH4, and N2O) across 20+ sites, while also collecting key environmental data such as rainfall, soil moisture, and water table levels. The aim is to develop a Falkland Islands-specific carbon code, support national greenhouse gas reporting, and inform future decisions for carbon offsetting schemes in the region.

Territories Falkland Islands Project Manager Dr Valeria Mazzola Funding organisations Department for Environment, Food and Rural Affairs (Defra) and Falkland Islands Government (FIG) ~~Se~~ Project Partners British Antartic Survey (BAS), Falklands Conservation , UK Centre for Ecology & Hydrology (UKCEH)

Project Progress:

This year marked the successful launch of the project focused on assessing carbon dynamics in the Falkland Islands’ peatlands. Significant progress was made in establishing and preparing the study sites, which cover various habitats across East and West Falklands, as well as Bleaker and Weddell Islands. The fieldwork, data collection, and initial analysis have laid a strong foundation for understanding the greenhouse gas (GHG) emissions and soil conditions in these important ecosystems. Key Highlights include:

TRUSTEES’ ANNUAL REPORT 29

Providing Caribbean expertise in EMODnet Seabed Habitats phase 4

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||| |---|---| |Territories|Anguilla| |Project Manager|Tara Pelembe| |Project Officer|Elayna Daniels| |Funding organisations|Joint Nature Conservation| |Committee (JNCC)| |Project Partners|Joint Nature Conservation| |Committee (JNCC), Anguilla| |Community College, Anguilla| |Department of Natural Resources,| |Mid Atlantic Environmental| |Research Institute (MAERI)|

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The project aims to integrate Caribbean expertise into the EMODnet Seabed Habitats project by acquiring high-quality environmental data for the Caribbean region. It will also enhance the Mid-Atalntic Environmental Research Institute’s (MAERI’s) marine spatial data management capacity through support, training, and the development of a centralised environmental database.

Project Progress:

The project achieved significant milestones in stakeholder engagement, data formatting and submission, and training. Key achievements include:

The project addresses the challenges of accessing, standardising, and analysing seabed habitat data, which is crucial for marine management and conservation. By collating Caribbean habitat data and contributing to EMODnet, the project supports the broader goal of making marine data more findable, accessible, interoperable, and reusable (FAIR principles).

» Project Officer - recruited in April 2023, completed data mining by September 2023.

» Stakeholder Engagement - engaged organisations including The Nature Conservancy, NOAA, and the Anguilla Government and conducted meetings and training sessions with local stakeholders.

» Data Submission - 58 of 91 datasets uploaded to EMODnet, covering marine habitat data for 33 countries, including the Dominican Republic, the Bahamas, Anguilla, Barbados, Jamaica, Puerto Rico, and Venezuela. Addressing issues with 33 pending datasets is a priority for phase 5.

» Training and Capacity Building - delivered GIS and data management training in Anguilla with 5 out of 6 participants receiving completion certificates. A very successful grant writing course was held, with 26 participants from Anguilla. » Caribbean EUSeaMap: Collaborated on recommendations for the regional EuSeaMap and broader reflections on EMODnet’s work in the Caribbean.

The project made strong progress toward enhancing data accessibility and regional capacity.

Strengthening our Communications and Administration

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|||| |---|---|---| |Territories|Falkland Islands| |and Administration| |Project Manager|Teresa Bowers| |SAERI received a two-year grant from the John| |Project Officers|Arlene Olmedo-Bowers (Office| |Ellerman Foundation in November 2022, supporting| |Manager), Amy Constantine (PA| |core costs. This funding has led to cost savings|and Communications Officer| |and increased efficiency, as SAERI now handles all|Funding organisations|John Ellerman Foundation| |branded materials, including websites, reports,|

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newsletters, and social media in-house. Additionally, financial systems have been streamlined, thanks in part to the Office Manager. These in-house activities will continue, and we’ve identified training courses in PR, media, and accountancy to enhance these roles.

The Communications Officer worked on updating marketing materials, including posters and the Annual Trustees Report, making it more engaging and visually appealing. The SAERI website has been refreshed, and we launched - - the SAERI (Falklands) Limited website: www.south atlantic consulting.com . A new brochure and updated stationery were also created, with the Communications Officer gaining skills in various software and systems. We hosted three webinars on communications and two information sessions for Masters and PhD students.

Conserving tropical Marine Ecosystems in TCI through Science-Based Fisheries Management (DPLUS153)

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|||||| |---|---|---|---|---| |Territories|Turks and Caicos Islands| |Project Manager|Dr Edward Butler| |Project Officer|Jessly Robinson (DECR)| |Tropical marine ecosystems| |Funding organisations|Funded by the UK Government| |provide important goods| |and services to a vast|through Darwin Plus| |collective|of|diverse| |Project Partners|Turks and Caicos Islands| |stakeholders.|Chiefly|Government (TCIG), Department| |among|these|is|the| |of Environment and Coastal| |provision|of|food|and| |livelihoods via fishing.|Resources (DECR) , Department| |of Fisheries and Marine Resources| |However,|Small-Scale|Management (DFMRM), Fish| |Fisheries|(SSF)|need|to|Ageing Services Ltd Pty (FAS), Joint| |be actively monitored to|Nature Conservation Committee| |avoid the overexploitation|(JNCC)|

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However, Small-Scale Fisheries (SSF) need to be actively monitored to avoid the overexploitation of marine resources and data are required to inform robust evidencebased management. In the Turks and Caicos Islands (TCI),

» Stock Assessment and Management - contracted The Nature Conservancy to provide stock assessment and management training for over 10 DFMRM staff members. This led to the development of two length-based stock assessment models for Nassau grouper and yellowtail snapper, marking the first contemporary assessment of finfish stock status in TCI. The findings revealed a severe reduction in Nassau grouper populations, with only 22% of the original biomass remaining, indicating significant depletion. In contrast, yellowtail snapper showed moderate resilience, with 47% of the original stock size still present, suggesting these more resilient species have maintained stronger populations compared to the sensitive Nassau grouper.

insufficient fish landings and life history data are available to conduct basic assessments. Through direct collaboration with local stakeholders and fishers, the project aims to address this via the improvement of local fisheries-related catch, effort, and biological data in the TCI.

Project Progress:

Despite significant challenges, including a government restructuring that created the Department of Fisheries and Marine Resource Management (DFMRM), the project adapted effectively and concluded successfully in February 2024. The development of a comprehensive exit strategy ensured a sustainable legacy, with promising signs of ongoing government support and the integration of the Project Officer into the TCI Government (TCIG) staff. Key achievements include:

» Local Collaboration - embedding the Project Manager within the TCIG Department of Environment and Coastal Resources (DECR) facilitated effective communication and a deep understanding of local contexts which is crucial for the successful implementation of new science in the region. It provided insight into the fishery’s operations, as well as cultural influences and local normative behaviours. These subtle factors played a significant role in the overall management of the fishery, often overlooked in externally driven fishery recommendations.

» Government Support - the laboratory’s development was tailored for long-term sustainability, with strong government backing, including preparing cabinet papers and a business case, culminating in a publicised opening ceremony, all designed to ensure the maximum local impact.

» Training - trained over five laboratory staff on advanced equipment for processing otoliths and reproductive organs, contributing to age and growth data and reproductive studies.

» Operating Procedures - developed standard operating procedures for data collection on priority species, enhancing fisheries management processes.

The project achieved its core objectives and laid a solid foundation for sustainable fisheries management in TCI, with strengthened government partnerships and a clear, sustainable path forward.

We also migrated much of the Falklands accounts to our UK HSBC, improving efficiency through automated reconciliations. This time-saving has allowed the Office Manager to focus on bookkeeping, reporting, and grant financial reporting.

30 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

TRUSTEES’ ANNUAL REPORT 31

Climate impacts on Falkland Islands past, present and future freshwater dynamics (DPLUS206)

Falkland Islands terrestrial ecosystems are unique and sensitive to changes in land use and climate change. Recognising these challenges, and given farming is the very fabric of FI community, a growing desire exists for data driven solutions to facilitate innovation and sustainable land management and climate change adaptation. We will work toward solving these challenges through a locally driven project, which brings together existing data and data tools and harnesses technological solutions for land management and climate change adaptation.

Territories Falkland Islands ~~|~~ Project Lead Dr Alistair Baylis Funding organisations Funded by the UK Government through Darwin Plus Project Partners Falkland Islands Government (FIG) , UK Centre for Ecology & Hydrology (UKCEH)

The high-level research aims are to:

» Use freely available Landsat and Sentinel satellite imagery to assess past (last 30 y) and present freshwater dynamics (surface water extent and soil moisture (e.g. Normalized Difference Moisture Index, Soil Water Index). » Model future scenarios of freshwater dynamics using a number of data-driven gridded models.

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PARTNER PROJECTS

Strengthening and Expanding Namibia’s MPA Network (NIMPA+)

SAERI is a key partner in a consortium working to enhance the management and protection of Namibia’s marine ecosystems, with a focus on the Namibian Islands’ Marine Protected Area (NIMPA) and the designation of new MPAs. SAERI’s role includes developing an information management system for NIMPA and providing expertise in seabird conservation, fisheries, and management planning. NIMPA, one of Africa’s largest MPAs, is home to globally significant seabird and marine mammal populations but faces threats from overfishing, pollution, and climate change.

The project, in collaboration with Namibian government agencies and conservation organisations, aims to implement a sciencebased management framework to ensure sustainable resource use and biodiversity protection. This new framework will draw on the latest scientific evidence and provide a blueprint for effective decision-making, setting clear thresholds for key environmental indicators and prioritising sustainable resource use. Efforts include rehabilitating endangered seabirds, engaging local communities, and supporting small-scale fisheries to create long-term environmental and economic benefits while securing the future of Namibia’s vital marine ecosystems.

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||| |---|---| |Country|Namibia| |Project Manager|Tara Pelembe (SAERI lead) , Jack| |Ingledew-Gale, Dr AListair Baylis,| |Dr Paul Brickle, Dr Paul Brewin| |Funding organisations|Blue Action Fund| |Project Partners|Namibia Nature Foundation| |(Project leader), SANCCOB,| |Blue Marine Foundation, GRID| |Arendal, COSDEC Benguela,| |NAMCOB, SAERI|

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Project Progress:

A key milestone has been the successful development of the data portal. SAERI has developed a NIMPA data portal and webGIS platform to enhance marine spatial planning and conservation. These tools allow managers to visualize, access, and standardise spatial data, improving data sharing and decision-making. The data portal, available at https://nimpa.saeri.org/, facilitates discovery and quality control, while the webGIS provides an interactive platform for mapping and analysis. Ongoing refinements include feedback on map design and layer visibility, with plans to expand as more data becomes available.

One Ocean Hub (OOH) – Economic Valuations of Marine Ecosystem Services

One Ocean Hub (OOH) is an international programme of research for sustainable development, working to promote fair and inclusive ‘ decision-making for a » » healthy ocean, whereby people and the planet can flourish, coordinated by the University of Strathclyde.

SAERI is an OOH partner, working in collaboration with the Namibia Nature Foundation (NNF) to deliver a programme or work on economic valuations of marine ecosystem services in Namibia.

As part of the wider project, SAERI and NNF undertook three studies:

» The economic valuation of Blue Carbon protection in restoration in the Namibia EEZ: the case of kelp.

» Blue Carbon potential in Namibia

» Economic value of the marine recreational fishery in Namibia.

Protecting South Georgia from Climate Change Invasion Synergies (DPLUS144)

South Georgia’s unique terrestrial ecosystems are vulnerable to invasion by non-native plants and invertebrates that will benefit from climate change.

The project will generate information immediately applicable to conservation management in a warming climate by 1) recording colonisation 7 of recently de- glaciated areas by non-native species, 2)

identifying ‘winning’ and ‘losing’ native and non-native plants under simulated warming, 3) mapping invasive carabid beetle and native invertebrate distribution and abundance, and 4) identifying high-risk potential future invaders from the Falkland Islands

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||| |---|---| |Territories|Falkland Islands| |Project Manager|Dr Simon Elwen ,| |Usman Khan (NNF)| |Funding organisations|UK Research and Innovation (UKRI)| |via University of Strathclyde| |Project Partners|Namibia Nature Foundation (NNF),| |SAERI|

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Project Progress:

The SAERI/NNF partnership made significant strides in advancing Blue Carbon research in Namibia in 2024. Collaborating with the Namibia country programme (UNAM) and the OOH Consortium (University of Strathclyde), the project benefited from strong technical support and strategic direction. Key Achievements include:

» Blue Carbon Workshop: Successfully brought together Namibian OOH partners and stakeholders to advance research collaboration.

» Economic Valuation Report: Published findings on the protection and restoration of Blue Carbon in Namibia’s EEZ, with a kelp case study.

» Blue Carbon Potential Review: Compiled and published a spatial assessment of Namibia’s Blue Carbon capacity.

» Academic Research Paper: In development for early 2024, analysing Blue Carbon potential in eastern boundary currents using Namibia as a case study.

» Recreational Fishery Surveys: Evaluated fisheries’ interactions with Blue Carbon ecosystems and their conservation potential.

This ground-breaking first ever assessment of Namibia’s kelp carbon sequestration value will provide essential insights to support future climate mitigation strategies.

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||| |---|---| |Territories|South Georgia and the South| |Sandwich Islands| |Project Manager|Prof Wayne Dawson, Dr Pierre Tichit| |Funding organisations|Funded by the UK Government| |through Darwin Plus and| |Department for Environment, Food| |& Rural Affairs (DEFRA)| |Project Partners|University of Durham, Royal| |Botanic Gardens Kew (Kew), British| |Antarctic Survey (BAS), SAERI|

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Project Progress:

Over the past year, important progress has been made in understanding and managing invasive species on South Georgia. Key developments include:

» Researchers have identified 40 high-risk plant species that could potentially arrive and spread on the island, helping to inform conservation strategies.

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SELINA: Science for Evidence-based and sustainabLe decisIons about ~~_ -~~ NAtural Capital

SELINA will provide guidance for evidence-based decisionmaking that supports the protection, restoration, and sustainable use of our environment. Through a collaboration of experts from 50 partner organisations from all 27 EU member states, Norway, Switzerland, Israel, and the United Kingdom, SELINA will set new standards for international cooperation to promote Ecosystem Services (ES) and Biodiversity (BD) conservation and enhance Ecosystem Conditions (EC). Providing robust practical information and recommendations to stakeholders from both the public and private sectors, SELINA will pave the way towards the transformative societal change required to achieve the ambitious goals of the European Biodiversity Strategy 2030 and the Green Deal.

SAERI’s role in the project is to input into some of the core work packages through applying the principles of using and analysing spatial data for policy and decision making in the South Atlantic, with a focus on the Falkland Islands and St. Helena.

Territories The project is being implemented across a number of European Countries. SAERI’s input into the project will take place in the Falkland Islands and St. Helena SAERI Project Lead Tara Pelembe Funding organisations Funded by the European Union. SELINA receives funding from the European Union’s Horizon Europe Research and innovation programme under grant agreement No 101060415 Project Partners Leibniz University Hannover leads a consortium of 50 partners (including SAERI). On the islands, the key partners in the project are the Falkland Islands Government, St. Helena Government and SAERI

Project Progress:

The main focus of the first year of the project has been working closely with the Department of Agriculture to scope out potential project focal areas, and in recruitment.

We are thrilled our recruitment was successful and our new project officer will commence in late 2024.

SAERI (FALKLANDS) LIMITED PROJECTS

Sustainable Management Planning for St Helena’s National Conservation Areas (DPLUS154)

Territories St. Helena Island for St Helena’s National Conservation Areas (DPLUS154) Project Manager Thomas Kitching Funding organisations Funded by the UK Government St Helena’s iconic, and highly through Darwin Plus endemic, biodiversity is of Project Partners Joint Nature Conservation J international importance. The Island’s ‘nature’ Committee (JNCC) , St. Helena National Conservation Government (SHG), SAERI / ~~pO _____~~ Areas (NCA), cover 38% of the island, helping protect Project Progress: over 500 endemic, and 38 The work focused on refining the Management Plan globally threatened native development process, establishing the boundary revision species. To secure the legal status of the NCAs, process, and drafting Management Plans for the five 13 sustainable-use NCA management plans, Important Wild Bird Areas and National Conservation Areas. analytical tools and frameworks to monitor Key Achievements include: their effectiveness will be developed. Key activities include; reviewing and collecting » Stakeholders - conducted extensive stakeholder data and information, identifying knowledge engagement to build and maintain support gaps, stakeholder engagement, indicator conservation initiatives. development, drafting Management Plans and capacity building. » Management Plans - Completed 5 draft management

The work focused on refining the Management Plan development process, establishing the boundary revision process, and drafting Management Plans for the five Important Wild Bird Areas and National Conservation Areas. Key Achievements include:

» Stakeholders - conducted extensive stakeholder engagement to build and maintain support for conservation initiatives.

» Management Plans - Completed 5 draft management plans for the IWA NCAs, incorporating feedback from targeted stakeholder consultations.

» Baseline reporting - regularly updated baseline reports with new data obtained through engagement efforts.

» Boundary review - Established a new boundary review process to support the justification of NCA boundaries.

» Training – SFL delivered initial training on mapping, mapping tools, and data management to St Helena Government (SHG) government staff and stakeholders.

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Overall, the project made strong progress in laying the groundwork for effective and sustainable management of St Helena’s protected areas.

37

International events and conferences

PARTNERING AT SAERI

In our annual report we highlight the significance of our partnerships. Partnership and collaboration is at the core of SAERI’s way of working. Partnerships are crucial for achieving our goals and we greatly value our strong network of global partnerships. At home in the Falkland Islands, and in the countries where we work, we have strong partnerships with in-country organisations, and look forward to continuing to work and thrive together.

Local partnerships

We maintain close collaboration with our government and industry partners in the Falkland Islands, recognising that cooperation is fundamental to our operations and a cornerstone of our future research. Our team provides comprehensive logistical support and expert guidance to researchers working in and around the South Atlantic, consistently delivering high-quality assistance. Operating in demanding environments, we prioritize safety and efficiency, ensuring that our staff and collaborators can conduct their research securely and cost-effectively.

International partnerships

SAERI is committed to strengthening and expanding its international partnerships while reinforcing existing collaborations. We have established Memorandums of Understanding (MoUs) with key partners, fostering a framework for effective cooperation. Notably, three of these MoUs support our active role in developing sister institutes across other United Kingdom Overseas Territories (UKOTs) and leading a strategic alliance in South America. We have also recently signed a strategic and collaborative MoU with the Cape Horn International Center for Global Change Studies and Biocultural Conservation (CHIC).

Austral Earth Observation

Alliance (AEOA)

SAERI continues to lead the AEOA by providing both the Chair and Secretarial roles. The partnership includes key institutions such as the Joint Nature Conservation Committee, Universidad de Magallanes (UMAG) Universidad Santo Tomás (Santiago) and Universidad de Chile. The AEOA convenes at least twice a year and hosts an annual symposium. Planning is currently underway for the next online workshops, scheduled in 2024/25.

A good deal of international workshops / conferences / symposia were attended by SAERI staff illustrating our reach in a number of areas of expertise. These include:

St Helena Research Institute

(SHRI)

SAERI collaborates closely with SHRI and serves as an advisory member on the SHRI Council. Additionally, the SELINA spatial data analyst will spend a year on St Helena, offering expert guidance on GIS and geospatial data management.

Mid-Atlantic Environmental

Research Institute (MAERI)

SAERI collaborates closely with its MAERI partners—the Anguillan Department of Natural Resources, Anguilla Community College, and the Joint Nature Conservation Committee—to advance the development of the Institute. Additionally, this collaboration extends to the EU-funded EMODnet project, with a SAERI Project Manager set to be based in Anguilla from December 2024.

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TRUSTEES’ ANNUAL REPORT 39

FINANCIAL REVIEW

Accounts are set out on pages 50 to 73

The 2023/24 financial year was a challenging one for SAERI with a down turn in grant funding success. Although this may have been a short-term issue. It appears that UK fiscal tightening, which contributed to the lower grant award rate, was experienced across the sector and was also seen by organisations in the UK.

Fortunately, the firm foundations and strong governance established early in SAERI’s history ensured we had the tools and leadership to act swiftly when the situation was noted early in January 2024.

In line with our strategic priorities, we placed renewed emphasis on our scientific work and the establishment of a Falkland Islands–based head office. As part of this transition, we streamlined our UK operations, which included changes to senior staffing and a restructure of our local team to better align with future needs. A new Head of Business and Finance role was created in the Falkland Islands to strengthen our leadership capacity. Thanks to our Reserves policy, our efforts to broaden our donor base, and the development of commercial activities through SAERI (Falklands) Limited (SFL), we were well-positioned to navigate this period of change. © Danni Thompson The Board of Trustees approved the reserves policy which has a minimum of six months’ operating expenditure and a desired target of nine months’ operating expenditure in reserves. The consolidated funds of the charity as at 30 June 2024 amounted to £405,619 (2023 - £518,483) of which £229,082 (2023 - £310,405) were restricted and £176,537 (2023 - £208,078) were unrestricted. Of the unrestricted funds £66,601 (2023 - £116,358) were free reserves. The free reserves amount to 3 months (2023 – 6 months) of operating expenditure.

Despite the organisational changes, the Group was undiminished delivering excellent science and meeting its obligations to its donors and delivery to commercial customers of SFL.

KEY FINANCIAL PERFORMANCE INDICATORS

The financial year concluded more favourably than initially forecast, primarily due to improved cost recoveries across a range of projects and stronger-than-expected income from SAERI (Falklands) Limited (SFL). Key financial performance indicators were met, including the achievement of a break-even annual budget, a positive year-on-year increase in the unrestricted cash balance, improved recharge mechanisms, and increased revenue generation through SFL. In addition, donor change requests were kept to a minimum throughout the year, reflecting effective project and financial management.

A key observation emerging from the year-end review is the need to increase SFL’s overhead recovery rates to reflect the onboarding of permanent staff resources. Addressing this will be a priority for the forthcoming financial year.

It is important to note that a downturn in grant success has presented challenges for the current financial period. However, we believe that the recent organisational restructure, including the establishment of a Falkland Islands–based Head of Business and Finance, provides a more resilient platform to navigate these pressures and deliver on strategic objectives.

GOING CONCERN

The Trustees set annual budgets with the objective of achieving at least a break-even position and conduct regular reviews of the financial performance of both SAERI and its subsidiary, SAERI (Falklands) Limited (SFL), against these budgets. Where potential shortfalls are identified, the Trustees take timely and appropriate action to mitigate risks and maintain financial stability.

In addition to annual budgeting, the Trustees develop and periodically update a five-year strategic plan, which guides the operational and financial direction of both SAERI and SFL.

The Trustees are satisfied that SAERI and SFL, as a consolidated group, continue to operate as going concerns, based on the following considerations:

» The recruitment of a full-time Environmental Consultant within SFL is expected to significantly enhance consultancy capacity, resulting in increased contributions to core costs.

business plan and ongoing commitment to FIG to gradually decrease reliance on government funding over time.

In accordance with the requirement for all inter-entity transactions to be conducted at arm’s length, the year included the following categories of goods and services provided by SAERI to SFL:

These arrangements ensure transparency, compliance, and alignment with good governance practices in managing the relationship between the Charity and its subsidiary.

» A comprehensive funding strategy is in place to support the ongoing diversification of income streams across both SAERI and SFL.

PRINCIPAL FUNDING SOURCES

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During the reporting period, SAERI Group’s expenditure was distributed across multiple geographic regions, including the Falkland Islands, the Caribbean, the South Atlantic, and Southern Africa, aligned with the locations of active project delivery. Income sources included contributions from the European Union and United Kingdom, in addition to regionally based funding.

The Falkland Islands Government (FIG) subvention accounted for approximately 45% of the Group’s unrestricted income. This figure includes the contribution made under the service agreement to support Data Centre operations. The overall subvention request was reduced in line with SAERI’s strategic

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40 SOUTH ALANTIC ENVIRONMENTAL RESEARCH INSTITUTE

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The South Atlantic Environmental Research Institute (SAERI) is a registered charity in England and Wales (Charity No. 1173105). It is governed by a Trust Deed and operates in accordance with its charitable objectives, which are:

  1. The advancement of education and research;

  2. The advancement of environmental protection or improvement; and

  3. The promotion of sustainable development.

The Charity operates through a Group structure, © Danni Thompsonwhich includes a wholly owned trading subsidiary. An arm’s length relationship is maintained to ensure appropriate governance, enabling the subsidiary to donate profits in support of the Charity’s core activities. This arrangement supports the strategic aim of reducing reliance on public funding provided through government subvention.

Trustee Recruitment, Induction and Training

The Charity is committed to maintaining an effective and informed Board of Trustees. During 2021/22, a Board Effectiveness Survey was conducted. The outcomes were disseminated to all Trustees and have been used by the Chair and Executive Director to inform Trustee recruitment, as well as identify areas for development and support for individual Trustees. New Trustees receive induction tailored to their role and the Charity’s work, including access to relevant governance documents, policies, and sector-specific briefings.

Organisational Structure and Governance

The Charity is governed by a Board of Trustees, who are responsible for setting strategic direction and overseeing operations. Day-to-day management is delegated to the Executive Director and senior leadership team.

During the reporting period, the establishment of both Science and International Committees has enhanced governance capacity. These committees provide expert input, supporting the Board in evidence-based decision-making. No changes have been made to the formal organisational structure.

Pay Policy for Senior Staff

The remuneration of senior staff is set in accordance with a pay banding system that reflects the responsibilities, experience, and market comparators of each role. These are reviewed periodically in line with all staff salaries to ensure fairness and consistency. Senior staff do not receive any additional benefits beyond those available to other staff members. During this reporting period, the senior leadership team declined the organisation-wide cost of living increase, with a view to reviewing this in the next financial year.

Risk Management

The Board regularly reviews the risks facing the Charity and its Group. Risk and governance are standing items at each quarterly Board meeting. Trustees are satisfied that appropriate systems and procedures are in place to identify, assess, and manage major risks.

Key strategic risks currently identified include:

Trustees remain committed to active risk management, regularly reviewing controls and mitigations to ensure the ongoing sustainability and effectiveness of the Charity. This includes diversifying grant applications, maintaining open communication with FIG to demonstrate the effective use of subvention, staying alert to new commercial opportunities through SFL, and ensuring strong organisational performance through regular training and review processes, particularly for the leadership team.

PLANS FOR FUTURE PERIODS

SAERI is entering a period of strategic growth, with a range of new initiatives designed to diversify income streams, enhance scientific infrastructure, and expand both local and international impact.

One of the key developments under consideration is the establishment of a sub-Antarctic Science Facility in Stanley, Falkland Islands. This proposed facility has gained early interest from potential partners and preliminary steps have been taken towards the development of a formal business case. Negotiations are ongoing between SAERI and the Falkland Islands Government (FIG) for a long-term lease of the Stanley Cottage site, located in central Stanley. The facility is envisaged to include laboratories, office space, seminar rooms, and accommodation, supporting visiting scientists and researchers. Given its geographic location, the Falkland Islands are uniquely positioned to serve both as a scientific destination and a gateway to Antarctica.

In partnership with local and international collaborators, SAERI has progressed the development of a commercial laboratory , which would offer a range of scientific services to industry and the local community. This forms part of a broader strategy to generate regular and sustainable income through SAERI’s trading subsidiary, SAERI (Falklands) Limited (SFL).

The Charity is also actively working to broaden its grant and donor base. Engagement with private foundations has already yielded successful funding outcomes from two institutions, and several further grant opportunities are in development. These efforts support the Charity’s long-term goal of reducing reliance on government subvention by securing diverse and unrestricted income sources.

As part of its commitment to continuous improvement and strategic development, SAERI has concluded work on a new strategy for its Data Centre, with a view to enhancing service provision and expanding its user base. Internationally, the Charity plans to consolidate and strengthen relationships with key partners and initiate the development of a regional hub in the Caribbean, supporting the expansion of SAERI’s portfolio in that region.

The overarching strategy for the forthcoming financial year is one of growth and investment in capacity. SAERI is now well established as a Charitable Incorporated Organisation, supported by robust governance and financial management frameworks. Key priorities for the coming period include:

» Exploration of additional commercial opportunities through SFL to further increase unrestricted income for the Charity.

FUNDRAISING PRACTICES

There have been no changes to the Charity’s fundraising practices during the reporting period.

FUNDS HELD AS CUSTODIAN TRUSTEE

SAERI continues to act as custodian of funds for albatross research. These funds are administered on behalf of the lead researcher and managed in accordance with their instructions. This arrangement exists due to restrictions on holding funds in the Falkland Islands for non-residents. The funds originate from the Falkland Islands Government Environmental Studies Budget, which supports environmental research within the territory.

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare financial statements for each financial year. Under charity law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and the Group, and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

» prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the Charity and the Group will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity and the Group’s transactions; to disclose, with reasonable accuracy at any time, the financial position of the Charity and the Group and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

» that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the charitable group’s auditors in connection with preparing their report and to establish that the charitable group’s auditors are aware of that information.

This report was approved by the Trustees on 28 April 2025 and signed on their behalf by:

Peter Judge MBE Chairman

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Independent Auditor’s Report to the Trustees of South Atlantic Environmental Research Institute

OPINION

We have audited the financial statements of South Atlantic Environmental Research Institute (the ‘Charity’) and its subsidiary (the ‘Group’) for the year ended 30 June 2024 which comprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets, Statement of Consolidated Cash Flows and notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland.

In our opinion, the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report other than the Financial Statements and our auditor’s report thereon. Our opinion on the Financial Statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the Financial Statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF THE TRUSTEES

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 44, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our audit planning, we obtained an understanding of the legal and regulatory framework that is applicable to the Charity. We gained an understanding of the Charity and the industry in which the Charity operates as part of this assessment to identify the key laws and regulations affecting the Charity.

As part of this, we reviewed the Charity’s website for indication of any regulations and certification in place and discussed these with the relevant individuals responsible for compliance. The key regulations we identified were Charity Legislation, health and safety regulations and The General Data Protection Regulation (“GDPR”). We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We discussed with management and trustees how the compliance with these laws and regulations in monitored and discussed policies and procedures in place. We also identified the individuals who have responsibility for ensuring that the Charity complies with laws and regulations and deals with reporting any issues if they arise. As part of our planning procedures, we assessed the risk of any noncompliance with laws and regulations on the Charity’s ability to continue trading and the risk of material misstatement to the accounts.

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TRUSTEES’ ANNUAL REPORT 47

Independent Auditor’s Report to the Trustees of South Atlantic Environmental Research Institute (continued)

OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS (continued)

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:

» enquiries of management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries, we also discussed with management whether there have been any known instances, allegations or suspicions of fraud, of which there were none.

» reviewed filings with the Charity Commission and whether there were any serious incident reports made during the year, of which there were none.

» discussed with the Health and Safety Officer if any incidents have been reported during the year under The Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013 (“RIDDOR”).

» review of the group’s GDPR policy and enquiries to the Data Protection Officer as to the occurrence and outcome of any reportable breaches.

» reviewed Trustee minutes.

As part of our enquiries, we discussed with management whether there have been any known instances, allegations or suspicions of fraud, of which there were none. We evaluated the risk of fraud through management override. The key risks we identified were management bias in accounting judgements and estimates. We also evaluated the risk of fraud through misapplication of grant funding.

In response to the identified risk, as part of our audit work we:

» reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of noncompliance. The risk of not detecting a material mis-statement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities.

This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the Charity’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

PKF FRANCIS CLARK, Chartered Accountants & Statutory Auditor Centenary House, Peninsula Park Rydon Lane, Exeter EX2 7XE

Date: 29 April 2025

PKF Francis Clark is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

49

48 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES CONSOLIDATED BALANCE SHEET
FOR THE YEAR ENDED 30 JUNE 2024 FOR THE YEAR ENDED 30 JUNE 2024 AS AT 30 JUNE 2024
UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL FUNDS
TOTAL FUNDS
2024
2024
2024
2023
NOTE
£
£
£
£
2024
2023
Note
£
£
FIXED ASSETS
Intangible assets
14
537
537
ie
INCOME FROM:
Tangible assets 15 142,269 167,684
Donations and legacies 3 110,014 765,258 875,272 1,117,541 142,806 168,221
Other trading activities 5 339,563 - 339,563 214,877
Other income 6 26,628 49,787 76,415 62,145
CURRENT ASSETS
Total income 476,205 815,045 1,291,250 1,394,563 Debtors 18 98,955 100,832
Cash at bank and in hand 25 326,287 469,428
EXPENDITURE ON:
425,242 570,260
Raising funds 4 226,280 - 226,280 115,251 Creditors :amounts falling due within one year 19 (162,429) (219,998)
Charitable activities 7 356,970 820,864 1,177,834 1,131,512 Net current assets 262,813 350,262
Total expenditure 583,250 820,864 1,404,114 1,246,763
Total assets less current liabilities 405,619 518,483
Net income/(expenditure) (107,045) (5,819) (112,864) 147,800 Provisions for liabilities 20 - -
Transfers between funds 21 75,504 (75,504) - - Total net assets 405,619 518,483
Net movement in funds (31,541) (81,323) (112,864) 147,800
CHARITY FUNDS
RECONCILIATION OF FUNDS: Restricted funds 21 229,082 310,405
Total funds brought forward
Net movement in funds
Total funds carried forward		 208,078
310,405
518,483
370,683
(31,541)
(81,323)
(112,864)
147,800
176,537
229,082
405,619
518,483
~~—~~		 Unrestricted funds
21
176,537
208,078
Total Funds
405,619
518,483
Lo

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 54 to 73 form part of these financial statements.

These financial statements were approved by the Board of Trustees and authorised for issue on 28 April 2025 and are signed on behalf of the Board by: too Tee Peter Judge MBE Chairman

The notes on pages 54 to 73 form part of these financial statements.

50 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

FINANCIAL STATEMENTS 51

CHARITY BALANCE SHEET CONSOLIDATED STATEMENT OF CASH FLOWS AS AT 30 JUNE 2024 FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 2024 2023 Note £ £ NOTE £ £ FIXED ASSETS ee e CASH FLOWS FROM OPERATING ACTIVITIES e Intangible assets 14 537 537 Net Cash used in operating activities 24 (117,806) 228,002 Tangible assets 15 139,756 162,150 CASH FLOWS FROM INVESTING ACTIVITIES Investments 16 1 1 Purchase of tangible fixed assets (25,335) (67,908) 140,294 162,688 Net Cash used in investing activities (25,335) (67,908) CURRENT ASSETS Debtors 18 46,325 48,432 Change in cash and cash equivalents in the year (143,141) 160,094 Cash at bank and in hand 309,246 456,409 Cash and cash equivalents at the beginning of the year 469,428 309,334 355,571 504,841 Cash and Cash equivalents at the end of the year 25, 26 326,287 469,428 Creditors : amounts falling due within one year 19 (122,082) (183,217) Net current assets 233,489 321,624 Total assets less current liabilities 373,783 484,312 The notes on pages 54 to 73 form part of these financial statements. Total net assets 373,783 484,312 CHARITY FUNDS Restricted funds 21 229,082 310,405 Unrestricted funds 21 144,701 173,907 LT Total charity funds 373,783 484,312

These financial statements were approved by the Board of Trustees and authorised for issue on and are signed on behalf of the board by:

Peter Judge MBE Chairman

The notes on pages 54 to 73 form part of these financial statements.

FINANCIAL STATEMENTS

52 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

53

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1. GENERAL INFORMATION

South Atlantic Environmental Research Institute is a Charitable Incorporated Organisation, registered with the Charity Commission in England & Wales with a registered number 1173105 on 17 May 2017. Its registered office is Falkland House, 14 Broadway, Westminster, London, SW1H 0BH.

The financial statements are presented in Sterling which is the functional currency of the Group and are rounded to the nearest £.

2. ACCOUNTING POLICIES

2.1 Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

There is no material uncertainties in relation to the going concern.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

No separate SOFA has been presented for the Charity alone. The income and expenditure account for the year for the Parent Charity, South Atlantic Environmental Research Institute, was a deficit of £110,529 (2023: surplus of £151,123).

South Atlantic Environmental Research Institute meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity

and its subsidiary undertaking. The results of the subsidiary are consolidated on a line-by-line basis.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Grant income in relation to projects is recognised when the Charity has entitlement, and the terms and conditions of the grant are met. The amount of grant income recognised in the Statement of Financial Activities reflects the approximate stage of completion of the individual projects based on budgeted costs. Income is accrued in line with budgets submitted to funders and deferred where funds are received in advance.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Intangible assets and amortisation

Intangible assets are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment.

2.6 Tangible fixed assets and depreciation

All assets costing more than £200 are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that

the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Consolidated Statement of Financial Activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and shortterm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

2.11 Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable surpluses from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

2.12 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

FINANCIAL STATEMENTS 55

54

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

3. INCOME FROM DONATIONS AND LEGACIES

UNRESTRICTED
FUNDS
2024		 RESTRICTED
FUNDS
2024		 TOTAL
FUNDS
2024		 TOTAL
FUNDS
2023
£ £ £ £
Donations 84,850 - 84,850 90,000
Grants 25,164 765,258 790,422 1,027,541
Totals 2024 110,014 765,258 875,272 1,117,541

Included in the total income from donations and legacies of £875,272 (2023: £1,117,541) is £110,014 of unrestricted funds (2023: £124,736) and £765,258 of restricted funds (2023: £992,805).

4. TRADING ACTIVITES

UNRESTRICTED
FUNDS
2024
£		 TOTAL
FUNDS
2024
£		 TOTAL
FUNDS
2023
£
Subsidiary trading income
SAERI (Falklands) Limited income 339,563 339,563 214,877
Subsidiary trading expenses
Staff costs 21,329 21,329 3,043
Staff Training - - 926
Bank fees 425 425 456
Consulting 703 703 206
Direct Expenses 590 590 2,496
General Expenses 1,601 1,601 431
Travel and subsistence 549 549 (390)
Telephone and internet 10 10 (20)
Printing and stationery - - 50
IT software and consumables 240 240 18
Legal expenses 360 360 726
Subscriptions 1,446 1,446 833
Corporation Tax - - (266)
Accountancy 2,000 2,000 1,894
Specialist consultants 133,465 133,465 24,798
Project delivery cost 60,492 60,492 73,812
Currency loss/ (gain) 49 49 220
Depreciation of tangible fixed assets 3,021
~~a~~		 3,021
~~a~~		 6,018
~~a~~
226,280 226,280 115,251
Net Income from Trading activities for 2024 113,283 113,283 99,626

Included in the total net income from trading activities of £113,283 (2023: £99,626) is £113,283 of unrestricted funds (2023: £99,626) and £nil of restricted funds (2023: £nil).

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56 SOUTH ALANTIC ENVIRONMENTAL RESEARCH INSTITUTE
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FINANCIAL STATEMENTS 57

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

5. INCOME FROM NON-CHARITABLE TRADING ACTIVITIES

UNRESTRICTED
FUNDS		 TOTAL
FUNDS		 TOTAL
FUNDS
2024
£		 2024
£		 2023
£
Trading income - domestic 339,563 339,563 214,877
Total 2024 339,563 339,563 214,877

Included in the total income from non-charitable trading activities of £339,563 (2023: £214,877) is £339,563 of unrestricted funds (2023: £214,877) and £nil of restricted funds (2023: £nil).

6. OTHER INCOME RESOURCES

UNRESTRICTED
FUNDS		 RESTRICTED
FUNDS		 TOTAL
FUNDS		 TOTAL
FUNDS
2024
£		 2024
£		 2024
£		 2023
£
Recharges 20,891 13,776 34,667 22,786
Other income 5,737 36,011 41,748 39,359
~~a~~
Total 2024
26,628
49,787
76,415
~~—eeeoeeooooooooasS—s—s—OoOOoO——————————————S—S—SSSSSaSsSsSsSsSSo—..~~		 62,145
~~oo—~~

7.1 ANALYSIS OF DIRECT COSTS

7.1 ANALYSIS OF DIRECT COSTS
ACTIVITIES TOTAL TOTAL
2024 2024 2023
£ £ £
Staff Costs 299,532 299,532 192,379
Direct expenses 9,129 9,129 13,513
Project delivery costs 237,554 237,554 330,668
Specialist consultants 48,428 48,428 46,013
Travel and subsistence 30,501 30,501 2,947
IT costs - - 50
Medical insurance and staff costs 9,839 9,839 45,149
Total 2024 634,983 634,983 630,719
Total 2023 630,719 630,719

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Included in the total other income resources of £76,415 (2023: £62,145) is £26,628 of unrestricted funds (2023:£21,423) and £49,787 of restricted funds (2023: £40,722).

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES

ACTIVITIES
UNDERTAKEN DIRECTLY
SUPPORT
COSTS
TOTAL
FUNDS
TOTAL
FUNDS
2024
2024
2024
2023
£
£
£
£
——————		 ACTIVITIES
UNDERTAKEN DIRECTLY
SUPPORT
COSTS
TOTAL
FUNDS
TOTAL
FUNDS
2024
2024
2024
2023
£
£
£
£
——————
Total 2024
634,983		 542,851
1,177,834
1,131,512
~~ea_"ne=—eee~~ ~~SS~~—sa—“—“vwas=wmams>sSm9SI~~0S SS09—ss“—~“—“wowmaS>s>s>s>S—saow>«"»wmamaas>—>«—«——os“™—~~
Total 2023
630,719		 500,793
1,131,512

58 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

7.2 ANALYSIS OF SUPPORT COSTS

ACTIVITIES
TOTAL
FUNDS
TOTAL
FUNDS
2024
2024
2023
£
£
£
Staff costs
Depreciation
Advertising and marketing
Bank fees
Cleaning
Consulting
Entertainment
General expenses
Insurance
IT costs
Other staff costs
Motor vehicle expenses
Postage, freight and courier
Printing and stationery
Realised currency (gain)/ loss
Rent
Repairs
Subscriptions
Telephone and internet
Travel
Utilities
Restructuring Costs
Governance costs (see note 8)
Total 2024
Total 2023		 332,293
332,293
320,947
45,293
45,293
44,462
1,581
1,581
2,590
784
784
931
3,068
3,068
2,831
-
-
1,757
816
816
236
6,782
6,782
4,611
35,564
35,564
35,246
2,364
2,364
1,419
4,352
4,352
4,425
3,381
3,381
4,439
215
215
76
1,350
1,350
727
1,283
1,283
3,279
17,600
17,600
8,000
11,410
11,410
6,586
8,483
8,483
7,078
7,321
7,321
7,545
6,987
6,987
13,438
14,922
14,922
10,873
15,750
15,750
-
21,252
21,252
19,297
542,851
542,851
500,793
500,793
500,793

8. GOVERNANCE COSTS

UNRESTRICTED
FUNDS
RESTRICTED
FUNDS
TOTAL
FUNDS
TOTAL
FUNDS
2024
2024
2024
2023
£
£
£
£
Auditors’ remuneration
Auditors’ other assurance services
Auditors’ non audit costs
Board expenses
Total 2024		 12,690
-
12,690
12,010
-
6,600
6,600
-
7,605
-
7,605
5,740
957
-
957
1,547
21,252
6,600
27,852
19,297

Included in the total governance costs of £27,852 (2023: £19,297) is £21,252 of unrestricted funds (2023: £19,297) and £6,600 of restricted funds (2023: £nil).

Board expenses include hotel, travel and subsistence costs for board meetings.

9. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

----- Start of picture text -----
STAFF DEPRECIATION OTHER TOTAL TOTAL
COSTS COSTS COSTS
2024 2024 2024 2024 2023
£ £ £ £ £
----- End of picture text -----

£
£
£
£
£
Cost of raising funds
Expenditure on fundraising trading
Total 2024
Total 2023
Charitable activities
Direct costs
Expenditure on governance
Total 2024
Total 2023		 21,329
3,021
201,930
226,280
115,251
21,329
3,021
201,930
226,280
115,251
3,043
6,018
106,190
115,251
636,177
45,292
468,513
1,149,982
1,112,215
-
-
27,852
27,852
19,297
636,177
45,292
496,365
1,177,834
1,131,512
513,326
44,462
573,724
1,131,512

60 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

FINANCIAL STATEMENTS 61

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

10. NET INCOME/(EXPENDITURE)

This is stated after charging:

10. NET INCOME/(EXPENDITURE)
This is stated after charging:
2024 2023
£ £
Depreciation of tangible fixed assets: - owned by the charitable group 48,314 50,480
Auditor’s remuneration - audit 12,690 12,010
61,004 62,490

11. AUDITOR’S REMUNERATION

The auditor’s remuneration amounts to an auditor fee of £12,690 (2023: £12,010), other assurance services of £6,600 (2023: £nil) and other accounting, payroll, and VAT services including preparation of statutory accounts of £7,605 (2023: £2,290).

12. STAFF COSTS

12. STAFF COSTS
GROUP GROUP CHARITY CHARITY
2024 2023 2024 2023
Wages and salaries £
605,803		 £
481,510		 £
588,849		 £
478,488
Social security costs 16,654 17,564 12,279 17,574
Contribution to defined contribution pension schemes 35,049 17,295 35,049 17,295
657,506 516,369 636,177 513,357

13. TRUSTEES’ REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits in their capacity as Trustee (2023: £nil). However, Paul Brickle, was remunerated in his capacity as Chief Executive Director while acting as Trustee (note 28). Paul Brickle resigned as Trustee 7 December 2023.

During the year ended 30 June 2024, no Trustee expenses have been incurred (2023: £nil).

14. INTANGIBLE ASSETS

14. INTANGIBLE ASSETS
PATENTS
£
Cost
At 1 July 2023 537
At 30 June 2024 537
Net book Value
At 1 July 2023 537
At 30 June 2024 537

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© Dr Jesse van der Grient
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During the year to 30 June 2024, the Charity made termination payments totalling £15,750. This has been recognised within the 2023/24 annual accounts, with no provision being required in either the current or previous financial years.

The average number of persons employed by the Charity during the year as follows:

GROUP GROUP
2024 2023
Employees 14 12

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was:		 The number of employees whose employee benefits (excluding employer pension costs) exceeded The number of employees whose employee benefits (excluding employer pension costs) exceeded
GROUP GROUP
2024 2023
In the band £60,001- £70,000 2 1
In the band £70,001- £80,000 1 -

The Board considers that the Trustees, the Chief Executive Officer, the Director of Resources, the Director – International, and the Deputy Director – Science are the key management personnel of the Charity. During the year, the total remuneration of key management personnel, including employers’ pension contributions, amounted to £263,634 (2023: £241,855).

62 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

FINANCIAL STATEMENTS 63

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

15. TANGIBLE FIXED ASSETS

Group

----- Start of picture text -----
PLANT & MOTOR OFFICE COMPUTER TOTAL
MACHINERY VEHICLES EQUIPMENT EQUIPMENT
£ £ £ £ £
----- End of picture text -----

Cost or valuation
As at 1 July 2023
Additions
Disposals
At 30 June 2024
Depreciation
At 1 July 2024
Charge for the year
On Disposals
At 30 June 2024
Net book Value
At 30 June 2024
At 30 June 2023		 162,597
32,500
3,349
158,162
356,608
18,566
500
-
6,269
25,335
-
-
-
(3,654)
(3,654)
181,163
33,000
3,349
160,777
378,289
106,475
10,343
3,349
68,757
188,924
27,984
2,258
-
18,072
48,314
-
-
-
(1,218)
(1,218)
134,459
12,601
3,349
85,611
236,020
46,704
20,399
-
75,166
142,269
56,122
22,157
-
89,405
167,684

16. FIXED ASSET INVESTMENTS

INVESTMENTS
IN SUBSIDARY
COMPANIES
£
Charity
Cost or Valuation
At 1 July 2023
At 30 June 2024
17. PRINCIPAL SUBSIDIARIES		 1
1
NAME
REGISTERED OFFICE
PRINCIPLE
ACTIVITY
CLASS OF
SHARES		 HOLDING
SAERI (Falklands) Limited
PO Box 609,
Stanley Cottage North
Ross Road
Falkland Islands
Stanley
FIQQ 1ZZ
Environmental
and
consultancy
and support
Ordinary		 100%

The financial results of the subsidiary for the year were:

Charity

----- Start of picture text -----
PLANT & MOTOR OFFICE COMPUTER TOTAL
MACHINERY VEHICLES EQUIPMENT EQUIPMENT
£ £ £ £ £
----- End of picture text -----

Cost or valuation
As at 1 July 2023
Additions
Disposals
At 30 June 2024
Depreciation
At 1 July 2023
Charge for the year
On Disposals
At 30 June 2024
Net book Value
At 30 June 2024
At 30 June 2023		 137,597
32,500
3,349
146,563
320,009
18,566
500
-
6,269
25,335
-
-
-
(3,654)
(3,654)
156,163
33,000
3,349
149,178
341,690
84,267
10,343
3,349
59,900
157,859
27,705
2,258
-
15,330
45,293
-
-
-
(1,218)
(1,218)
111,972
12,601
3,349
74,012
201,934
44,191
20,399
-
75,166
139,756
53,330
22,157
-
86,663
162,150
INCOME EXPENDITURE DEFICIT NET ASSETS
Name £ £ £ £
SAERI (Falklands) Limited 2024 339,563 341,898 (2,335) 34,834
SAERI (Falklands) Limited 2023 214,877 218,200 (3,323) 34,171

18. DEBTORS

GROUP
GROUP
CHARITY
CHARITY
2024
2023
2024
2023
Due within one year £
£
£
£
Trade debtors
Other debtors
Prepayments and accrued income		 13,944
55,103
1,479
20,536
2,239
-
98
-
82,772
45,729
44,748
27,896
98,955
100,832
46,325
48,432

64 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

FINANCIAL STATEMENTS 65

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

GROUP
GROUP
CHARITY
CHARITY
2024
2023
2024
2023
£
£
£
£
Trade creditors
Amounts owed to subsidiaries
Other creditors
Accruals and deferred income		 8,138
45,882
6,547
21,881
-
-
2,355
4,344
3,801
13,249
3,801
9,329
150,490
160,867
109,379
147,663
162,429
219,998
122,082
183,217
GROUP
GROUP
CHARITY
CHARITY
2024
2023
2024
2023
Deferred income at 1 July 2023
Movement in the year
At 30 June 2024		 110,049
54,375
112,360
19,848
(49,214)
55,674
(59,265)
92,512
60,835
110,049
53,095
112,360

Deferred income comprises monies received in advance for projects where the costs have not yet been incurred.

20. DEFERRED TAXATION

The deferred tax liability is made up as follows:

Group

2024
2023
£
£
Opening balance
Movement in year
Closing balance		 -
266
-
(266)
-
-

Charity

2024
2023
£
£
Accelerated capital allowances
Closing balance		 -
-
-
-

21. STATEMENT OF FUNDS

Statement of funds – current year

----- Start of picture text -----
BALANCE AT TRANSFERS BALANCE AT
INCOME EXPENDITURE
1 JULY 2023 IN/(OUT) 30 JUNE 2024
£ £ £ £ £
----- End of picture text -----

Unrestricted Funds
General Funds
SAERI (Falklands) Limited
Restricted Funds
MSP
Coastal Mapping
SELINA
Illex
Paul Angell
Ellerman
Ellerman Core
D+144 Durham
GSGSSI Invasives
GSGSSI Climate Change
D+153 TCI Marine Management
D+148 CC Fisheries FI
D+139 Falkland Higher Predators
D+168 Seal Bycatch
NNF Blue Action Fund NIMPA
OOH Strathclyde
Gas Flux DEFRA_FC
D+ Local GIS
Carbon Neutral Fishing Patrick
Davy Civic Fund
PhD Students
JNCC Misc
JNCC EMODnet
Other
DP00047
Freshwater
Petrells
Total of Funds		 173,907
136,642
(241,352)
75,504
144,701
34,171
339,563
(341,898)
-
31,836
208,078
476,205
(583,250)
75,504
176,537
1,590
9,721
(6,143)
-
5,168
2,166
-
-
-
2,166
-
8,946
(9,268)
-
(322)
11,878
41,305
(40,158)
(2,230)
10,795
-
-
(5,505)
5,505
-
9,123
15,301
(18,367)
(6,057)
-
46,330
34,334
(5,472)
-
75,192
9,830
12,502
(13,425)
(8,907)
-
246
55,089
(58,567)
-
(3,232)
(347)
39,189
(34,613)
22
4,251
8,260
83,024
(87,562)
(3,722)
-
51,433
66,343
(70,195)
(37,621)
9.960
13,008
27
(14,060)
1,026
1
82,500
82,300
(143,799)
(516)
20,485
-
11,945
(16,741)
-
(4,796)
28,802
71,838
(82,159)
(18,476)
5
16,900
35,584
(32,449)
-
20,035
(286)
46,325
(46,568)
-
(529)
(6,376)
23,750
(27,814)
-
(10,440)
21,646
89,405
(57,097)
(1,428)
52,526
-
1,600
-
(1,600)
-
13,702
32,054
(44,256)
(1,500)
-
-
9,894
-
-
9,894
-
24,569
(6,367)
-
18,202
-
-
(279)
-
(279)
-
20,000
-
-
20,000
310,405
815,045
(820,864)
(75,504)
229,082
518 483
1 291 250
(1,404,114)
-
405,619

66 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

67

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

21. STATEMENT OF FUNDS (Continued)

Statement of funds – Prior year

BALANCE AT
1 JULY 2022		 INCOME EXPENDITURE TRANSFERS
IN/(OUT)		 BALANCE AT
30 JUNE 2023
Unrestricted Funds £ £ £ £ £
General Funds 114,521 146,159 (206,052) 119,279 173,907
SAERI (Falklands) Limited 37,494 214,877 (218,200) - 34,171
152,015 361,036 (424,252) 119,279 208,078

21. STATEMENT OF FUNDS (Continued)

Statement of funds – Prior year (continued)

BALANCE AT
1 JULY 2022		 INCOME EXPENDITURE TRANSFERS
IN/(OUT)		 BALANCE AT
30 JUNE 2023
Restricted funds £ £ £ £ £
VME Post-Doc 40,374 - (22,851) (17,523) -
GAP 9,124 - (4,800) (4,324) -
MSP 4,284 6,800 (8,991) (503) 1,590
Coastal Mapping 2,166 - - - 2,166
Fur Seals Tracking 12,148 5,740 (14,171) (3,717) -
TCI 730 - - (730) -
SELINA - 7,387 (2,043) (5,344) -
Illex - 17,796 (5,918) - 11,878
Paul Angell 5,912 15,963 (16,351) (5,524) -
Ellerman 1,711 55,336 (47,924) - 9,123
Ellerman Core - 51,500 (10) (5,160) 46,330
D+144 Durham 6,175 21,958 (18,806) 503 9,830
GSGSSI Invasives - 5,808 (5,562) - 246
GSGSSI Climate Change - - (347) - (347)
D+153 TCI Marine Management 16,855 138,138 (146,857) 124 8,260
D+148 CC Fisheries FI 69,769 131,282 (149,607) (11) 51,433
D+139 Falkland Higher Predators 10,966 38,180 (33,102) (3,036) 13,008
D+149 GSGSSI Winter Krill - 7,260 (6,050) (1,210) -
D+167 - 6,501 (2,000) (4,501) -
D+168 Seal Bycatch (12,569) 232,369 (136,752) (548) 82,500
NNF Blue Action Fund NIMPA - 6,410 (6,948) 538 -
OOH Strathclyde 17,900 106,969 (97,691) 1,624 28,802
Gas Flux DEFRA_FC - 27,544 (10,639) (5) 16,900
D+ Wetlands 29,981 27,534 (410) (57,105) -
Data Centre miscellaneous - - (149) 149 -
D+ Local GIS - - (137) (149) (286)
Carbon Neutral Fishing Patrick - 11,875 (18,247) (4) (6,376)
Davy Civic Fund
PhD Students 3,142 74,902 (58,199) 1,801 21,646
JNCC Misc - 15,000 (4,000) (11,000) -
JNCC EMODnet - 19,275 (3,949) (1,624) 13,702
Other - 2,000 - (2,000) -
218,668 1,033,527 (822,511) (119,279) 310,405
Total of Funds 370,683 1,394,563 (1,246,763) - 518,483

69

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

22. SUMMARY OF FUNDS

Summary of funds – Current year

BALANCE
AT 1 JULY
2023
£		 INCOME
£		 EXPENDITURE
£		 TRANSFERS
IN/(OUT)
£		 BALANCE AT 30
JUNE 2024
£
General Funds 208,078 476,205 (583,250) 75,504 176,537
Restricted funds 310,405 815,045 (820,864) (75,504) 229,082
518,483 1,291,250 (1,404,114) - 405,619
Summary of funds – Prior year
General Funds BALANCE
AT 1 JULY
2022
£
152,015		 INCOME
£
361,036		 EXPENDITURE
£
(424,252)		 TRANSFERS
IN/(OUT)
£
119,279		 BALANCE AT 30
JUNE 2023
£
208,078
Restricted funds 218,668 1,033,527 (822,511) (119,279) 310,405
370,683 1,394,563 (1,246,763) - 518,483

Summary of funds – Prior year

----- Start of picture text -----
© Dr Jesse van der Grient
----- End of picture text -----

23. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Analysis of net assets between funds – current year

UNRESTRICTED
FUNDS
2024		 RESTRICTED
FUNDS
2024		 TOTAL FUNDS
2024
£ £ £
Tangible fixed assets 109,936 32,333 142,269
Intangible fixed assets 537 - 537
Current assets 143,500 281,742 425,242
Creditors due within one year (77,436) (84,993) (162,429)
Provisions for liabilities and charges - - -
Total 2024 176,537 229,082 405,619

Analysis of net assets between funds – prior year

UNRESTRICTED
FUNDS		 RESTRICTED
FUNDS		 TOTAL FUNDS
2023 2023 2023
£ £ £
Tangible fixed assets 91,720 75,964 167,684
Intangible fixed assets 537 - 537
Current assets 199,215 371,045 570,260
Creditors due within one year (83,394) (136,604) (219,998)
Provisions for liabilities and charges - - -
Total 2023 208,078 310,405 518,483

© Amy Constantine

----- Start of picture text -----
70 SOUTH ALANTIC ENVIRONMENTAL RESEARCH INSTITUTE
----- End of picture text -----

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

24. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

GROUP
2024		 GROUP
2023
£ £
Net income for the year (as per Statement of Financial Activities) (112,864) 147,800
ADJUSTMENTS FOR:
Depreciation charges 48,314 50,480
Loss on disposal of fixed assets 2,436 -
Decrease/(increase) in debtors 1,877 53,798
Increase/(decrease) in creditors (57,569) (23,810)
(Decrease)/increase in provisions (deferred tax) - (266)
Net cash provided by operating activities (117.806) 228,002

25. ANALYSIS OF CASH AND CASH EQUIVALENTS

GROUP
2024		 GROUP
2023
£ £
Cash in hand 326,287 469,428
Total cash and cash equivalents 326,287 469,428

26. ANALYSIS OF CHANGES IN NET DEBT

AT 1 JULY
2023		 CASH
FLOWS		 AT 30 JUNE
2024
£ £ £
Cash at bank in hand 469,428 (143,141) 326,287
469,428 (143,141) 326,287

27. PENSION COMMITMENTS

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £35,049 (2023: £17,295). Contributions totalling £nil (2023: £781) were payable to the fund at the balance sheet date and are included in creditors.

28. RELATED PARTY TRANSACTIONS

During the year, Trustee Dr Paul Brickle was paid £32,637 (2023: £66,009) for his role as Chief Executive Officer while acting as Trustee. Dr Paul Brickle resigned as a Trustee 7 December 2023.

72 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE

TRUSTEES’ ANNUAL REPORT 73

SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE www.south-atlantic-research.org

FALKLAND ISLANDS OFFICE

Stanley Cottage, Stanley, FIQQ 1ZZ, Falkland Islands Tel. +500 27374 Email. info@saeri.ac.fk UK REGISTERED OFFICE Falkland House, 14 Broadway, Westminster, London SW1H 0BH, United Kingdom Tel. +44 0203 745 1731

SAERI (FALKLANDS) LIMITED Stanley Cottage, Stanley, FIQQ 1ZZ, Falkland Islands

74 SOUTH ATLANTIC ENVIRONMENTAL RESEARCH INSTITUTE