## **Ghost Fishing UK** An unincorporated charity ## **Charity No. 1174396** ## **Trustees' Report and Unaudited but Independently Examined Accounts** **30 September 2021** Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS **Ghost Fishing UK CONTENTS** ||Pages|| |---|---|---| |Trustees' Annual Report|2 to 5|| |Independent Examiner's Report||6| |Statement of Financial Activities||7| |Balance Sheet||8| |Notes to the Accounts|9 to|15| Page 1 **Ghost Fishing UK TRUSTEES ANNUAL REPORT** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Charity No. 1174396** ## **Registered Office** Silverwell Farm Lestraynes Lane Penryn Cornwall TR10 9EL ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: Alfred Nunn Christine Grosart Richard Walker ## **Accountants** Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS ## **Bankers** HSBC Bank PLC Frome Branch 24 Market Place Frome Somerset BA11 1AJ Page 2 **Ghost Fishing UK TRUSTEES ANNUAL REPORT** The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 30 September 2021. ## **OBJECTIVES AND ACTIVITIES** To identify, survey and catalogue, then remove marine litter and abandoned, lost and discarded fishing gear (ALDFG). To include but not limited to nets, lines, creels, lobster pots and trawls from shipwrecks, reefs and other scuba diving sites around the UK, including England, Wales, Scotland and Northern Ireland Objectives for the year GF-UK is the biggest and most active project in the UK dealing with the problem of ALDFG. We had multiple scheduled projects for 2020-21, and expected some ad-hoc projects as well. Our training activities are due to continue, further strengthening the team, and widening our reach. ## **ACHIEVEMENTS AND PERFORMANCE** ## COVID-19 The COVID-19 pandemic caused huge disruption to the whole of the world, and the effects on Ghost Fishing UK were also significant. Our team implemented control measurers including reduced divers on boats , social distancing, regular lateral flow testing and safe diving practices whilst engaging in scuba diving activities. These protocols were based on Government regulations and advice from the national governing body for scuba diving in the UK. Despite the lockdowns we were able to continue to function during the less restrictive phases of the pandemic and it is a credit to our team for following the procedures and continuing the work. ## The Training Course Since the inception of GF-UK, the importance of proper training for our diving members has been a central concern. We began with an ad-hoc approach, but as the team grew this developed into a more formal course. Christine Grosart, Secretary of GF-UK, has produced a comprehensive training program unmatched in this sphere. During the 2020-21 period, we conducted four training events to a total of 20 divers. ## Online reporting system The ability of GF-UK to survey and recover abandoned, lost or discarded fishing gear (ALDFG) is highly dependent on information about the loss, or sighting, of the gear. To assist the gathering of this intelligence, our IT team have developed an on-line reporting system for divers. Recreational divers are encouraged via our social media and other channels to report when they come across ALDFG. This system captured over 50 reports in 2020-21. This was lower than the previous year. This is almost certainly due to the reduced scuba diving activity during the COVID-19 measures. ## Projects Conducted We have conducted 13 survey dives and 25 recovery dives. Given the restrictions imposed by the COVID-19 pandemic, we are extremely pleased with this level of work. Page 3 **Ghost Fishing UK TRUSTEES ANNUAL REPORT** ## January Event On the 9th January, 2021, GF-UK organized an on-line outreach event. The event gave divers the opportunity to get an introduction to the activities of the charity. The event was well attended, with several speakers providing superb perspective and a wider view of the problem of ALDFG, ocean plastics and recycling strategies. ## Outreach During 2020-21, GF-UK team members gave in the region of 20 online talks to various groups. These continue to help promote awareness of the problem of ALDFG, and educate divers and the public about the work that we do. One aspect of outreach that continues to be difficult is the fishing community. GF-UK has not yet managed to develop a working relationship with the fishing industry. We will increase our efforts in this area with the aim of working alongside the fishing community to retrieve nets as soon as they are lost, and to exchange information about ALDFG in a non-judgmental and supportive way. ## Split from Healthy Seas and Ghost Diving In January of 2020, Ghost Fishing UK and Healthy Seas parted ways. This has cost us a significant element of our funding but, allows us to maintain our independence. As of January 2021, we have formally separated from Healthy Seas (HS) and Ghost Diving (GD). Unfortunately the process did not end there. Despite huge efforts on our behalf to roll out new logos,untangle all the mention of HS and GD in any new presentations, web content or social media, they did not want to move on. We were in possession of a web domain and a trade mark relating to GD. GD had revoked all of our access to the ghostfishing.org google suite despite assertions that we would be able to use that in perpetuity. We received contact from their solicitor demanding that we release the trademark and the domains. We were forced to engage our own solicitors, Burges-Salmon who worked on a pro-bono basis. We produced a proposal for a coexistence agreement that essentially involved all the intellectual property ending up in the correct hands. In other words, we would release the GD domains and trademarks and we would take the ghostfishing.org domain. This was flatly refused by GD and no counter offer was made. We concluded that there was no way to proceed without incurring significant expense and with no guaranteed outcome. The communications from the GD solicitor technically provided promises that GD will not interfere with our work in the future and our solicitors were confident that if they ever directly interfered with us these communications could be cited as a contract. We have released the domains and the trademark. Fortunately, we have not had any more communication with GD or HS although they continue to taunt us via social media in a subtle way. In March 2021 we received an email from the GlobalGhost Gear Initiative (GGGI) informing us that our application for membership had been refused based on "some information that had been received". We were given no right of reply. We had been treated as a new applicant despite already having received an email confirming full membership. This all preceded the legal discussions outlined previously. So that action could not be seen as any interference. We took the view that if an organisation has no structure to deal with complaints or concerns then we were better off focussing our efforts on our own work. We received little benefit from our association with GGGI anyway, so there has been no significant loss. Page 4 **Ghost Fishing UK TRUSTEES ANNUAL REPORT** ## **FINANCIAL REVIEW** The charity’s income for 2020-21 amounted to £46,903 (2019-20 £43,745) from various sources and its expenditure was £36,405 (2019-20 £38,950) giving a surplus of £10,498 (2019-20 £4,795). Current assets amount to £20,205 (2019-20 £9,707) ## Risk management The trustees regularly review the risks to the Charity from both external factors and its operations. The trustees consider that they have taken appropriate steps to reduce such risks. Risk assessments are made for each individual dive. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** On 25th August, 2017, Ghost Fishing UK (GF-UK) was awarded UK charity status. This allows us to apply for a wider range of funding, and also provides a legal structure under which we can operate. ## Governing document GF-UK is governed by a constitution that was last reviewed on 18th August 2017. The charity’s Mission Statement is available on our website and was last updated in 2018. ## Recruitment and induction of trustees Trustees are recruited from amongst its volunteers. Training is a mix of mentoring, advice from the Charity Commission website and support from Cornwall Community Accountancy Service ## Organisation The charity has three trustees who are also the Chair, Secretary and Operations Officer respectively. There is also a team of “core” members who make up the committee. These members are qualified scuba divers who have been invited to free training courses. There are a number of unpaid officers including a Sales Officer, membership secretary and training officer. ## **TRUSTEES RESPONSIBILITIES** The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board Richard Walker Trustee 29 July 2022 Page 5 **Ghost Fishing UK INDEPENDENT EXAMINERS REPORT** ## **Independent Examiner's Report to the trustees of Ghost Fishing UK** I report to the charity trustees on my examination of the accounts of Ghost Fishing UK for the period ended 30 September 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the accounts do not accord with those records; or - the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the accounts have not been prepared in accordance with the Charities SORP (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Debbie Risborough Association of Chartered Certified Accountants Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS 29 July 2022 Page 6 **Ghost Fishing UK STATEMENT OF FINANCIAL ACTIVITIES** ## **for the period ended 30 September 2021** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Charitable activities
5
Investments
6
**Total**
**Expenditure on:**
Charitable activities
7
**Total**
Net gains on investments
**Net income**
8
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought
forward
**Total funds carried**
**forward**|**Unrestricted funds**
**2021**
**£**
34,739
12,164
-
46,903
36,405
36,405
-
10,498
10,498
10,498
9,707
20,205|**Total**
**funds**
**2021**
**£**
34,739
12,164
-|**Total**
**funds**
**2020**
**£**
14,478
29,266
1| |---|---|---|---| |||46,903
36,405|43,745
38,950| |||36,405
-|38,950
-| |||10,498|4,795| |||10,498|4,795| |||10,498
9,707|4,795
4,912| |||20,205|9,707| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Page 7 **Ghost Fishing UK BALANCE SHEET** |**at**
**30 September 2021**
**Company No.**
**Notes**
**2021**
**£**
**Fixed assets**
Tangible assets
10
1,080
1,080
**Current assets**
Cash at bank and in hand
20,436
20,436
**Creditors:**Amount falling due within one year
11
(1,311)
**Net current assets**
19,125
**Total assets less current liabilities**
20,205
**Net assets excluding pension asset or liability**
20,205
**Total net assets**
20,205
**The funds of the charity**
**Restricted funds**
12
**Unrestricted funds**
12
General funds
20,205
20,205
**Reserves**
12
**Total funds**
20,205|**2020**
**£**
-| |---|---| ||-
10,784| ||10,784
(1,077)| ||9,707
9,707| ||9,707| ||9,707| ||9,707| ||9,707| ||9,707| **----- Start of picture text -----**
For the period ended 30 September 2021 the company was entitled to exemption under
section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section
476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the
Companies Act 2006 with respect to accounting records and the preparation of accounts.
**----- End of picture text -----**
Approved by the board on 29 July 2022 And signed on its behalf by: Richard Walker Trustee 29 July 2022 Page 8 **Ghost Fishing UK NOTES TO THE ACCOUNTS** ## **for the period ended 30 September 2021** ## 1 **Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The charity constitutes a public benefit entity as defined by FRS102. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular Designated funds purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Page 9 **Ghost Fishing UK NOTES TO THE ACCOUNTS** ## **Income** Recognition of Income is included in the Statement of Financial Activities (SoFA) when the income charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with Where income has related expenditure the income and related expenditure is related expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included legacies in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in and facilities expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market Gains/(losses) on value at the end of the year. revaluation of fixed assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets **Expenditure** Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any expenditure VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its charitable activities activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. Page 10 **Ghost Fishing UK NOTES TO THE ACCOUNTS** ## **Tangible fixed assets and depreciation** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Plant & Machinery 25%% Straight line ## **Stocks** Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. ## **Statement of cash flows** Page 11 ## **Ghost Fishing UK NOTES TO THE ACCOUNTS** The charity is exempt from preparing a statement of cash flows on the grounds that it is a small charity ## 2 **Company status** The organisation is an unincorporated charity and consequently does not have share capital. ## 3 **Statement of Financial Activities - prior year** |**Income and endowments**
**from:**
Donations and legacies
Charitable activities
Investments
**Total**
**Expenditure on:**
Charitable activities
**Total**
**Net income**
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
4
**Income from donations and legacies**
Appeals and donations
Gift Aid tax reclaimed|**Unrestricted**
**funds**
**2020**
**£**
14,478
12,981
1|**Restricted**
**funds**
**2020**
**£**
-
16,285
-|**Total**
**funds**
**2020**
**£**
14,478
29,266
1| |---|---|---|---| ||27,460
24,701|16,285
14,249|43,745
38,950| ||24,701|14,249|38,950| ||2,759
2,501|2,036
(2,501)|4,795| ||5,260|(465)|4,795| ||5,260
4,447|(465)
465|4,795
4,912| ||9,707|-|9,707| ||**Unrestricted**
**£**|**Total**
**2021**
**£**
33,461
1,278|**Total**
**2020**
**£**
11,844
2,634| ||33,461||| ||1,278||| ||34,739|34,739|14,478| Page 12 ## **Ghost Fishing UK NOTES TO THE ACCOUNTS** ## 5 **Income from charitable activities** |**Income from charitable activities**|||| |---|---|---|---| |_Grant Income_
Healthy Seas
Sea Life Trust Ltd
_Primary Purpose Trading_
Diver Contributions
Merchandise Sales
Fund Raising
Other Income|**Unrestricted**
**£**|**Total**
**2021**
**£**
-
-
-
154
11,304
706
-|**Total**
**2020**
**£**
13,017
3,268
2,200
1,915
6,077
2,729
60| ||-||| ||-||| ||-||| ||||| ||154||| ||11,304||| ||706||| ||-||| ||12,164|12,164|29,266| ## 6 **Income from investments** Interest on deposits |**Total**
**2021**
**£**
-|**Total**
**2020**
**£**
1| |---|---| |-|1| Page 13 **Ghost Fishing UK NOTES TO THE ACCOUNTS** ## 7 **Expenditure on charitable activities** |_Direct expenditure on_
_charitable activities_
Boat Charter
Diving Gas
Materials
Merchandise Purchases
_Support Costs_
Staff welfare
Travel and subsistence
Insurance
IT expenses
Printing, postage and
stationary
Subscriptions
sundry expenses
Marketing and promotion
Legal and professional fees
Bank charges
Depreciation
_Governance costs_
Accountancy fees
Independent examination of
the charity's accounts
8
**Net income before transfers**
This is stated after charging:
Depreciation of owned fixed assets|**Unrestricted**
**£**
13,767
-
1,693
3,481
-
688
-
554
4,610
275
502
9,052
440
155
360
-
828|**Total**
**2021**
**£**
13,767
-
1,693
3,481
-
688
-
554
4,610
275
502
9,052
440
155
360
-
828|**Total**
**2020**
**£**
14,893
3,121
2,642
4,314
2,703
314
274
111
309
-
-
9,213
349
114
-
108
485| |---|---|---|---| ||36,405|36,405|38,950| ||**2021**
**£**
360||**2020**
**£**
-| ## 9 **Staff costs** The charity does not have any employees. All persons working for the charity are volunteers and give their time freely. They are not reimbursed for the costs they incur in so doing. Trustees received no remuneration or benefits in kind during the current or previous year. Expenses incurred in respect of attendance at board meetings for the current and prior year totalled £nil. Page 14 **Ghost Fishing UK NOTES TO THE ACCOUNTS** ## 10 **Tangible fixed assets** |**Cost or revaluation**
Additions
At 30 September 2021
**Depreciation and**
**impairment**
Depreciation charge for the
year
At 30 September 2021
**Net book values**
At 30 September 2021
11 **Creditors:**
amounts falling due within one year
Accruals and deferred income
12 **Movement in funds**
**Unrestricted funds:**
**General funds**
**Total funds**
13 **Analysis of net assets between funds**
Fixed assets
Net current assets|**At 1 April**
**2020**
9,707|**2021**
**£**
1,311|**Plant &**
**Machinery**
**£**
1,440|**Total**
**£**
1,440| |---|---|---|---|---| ||||1,440|1,440| ||||360|360| ||||360|360| ||||1,080|1,080| ||||**Resources**
**expended**
**£**|**2020**
**£**
1,077| |||1,311||1,077| |||**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**||**At 30**
**September**
**2021**
**£**
20,205| |||46,903|(36,405)|| |||||| ||9,707|46,903|(36,405)|20,205| ||||**Unrestricted**
**funds**
**£**
1,080
19,125|**Total**
**£**
1,080
19,125| ||||20,205|20,205| ## 14 **Related party disclosures** ## _**Controlling party**_ The charity is controlled by the trustees; thus no single party controls the company. Page 15