2025-02-28-accounts

Registered number: 10628323 Charity number: 1174759

OCEAN FAMILY FOUNDATION (A company limited by guarantee)

UNAUDITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the Company, its Trustees and advisers	1
Trustees’ report	2-6
Independent examiner's report	7-8
Statement of financial activities	)
Balance sheet	10
Notestothefinancialstatements	11-20

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2025

Trustees DJTill P A D Dubens JS D Getty Company registered number 10628323 Charity registered number 1174759 Registered office 3 Cadogan Gate London SW1X OAS Accountant Crowe U.K. LLP Chartered Accountants Medway Bridge House 1 - 8 Fairmeadow Maidstone Kent ME14 1JP

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OCEAN FAMILY FOUNDATION (A company limited by guarantee)

ooo TRUSTEES’ REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025

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The Trustees (who are also the directors of the charitable company for the purposes of the Companies Act 2006) present their annual report together with the financial statements of the Ocean Family Foundation for the 29 February 2024 to 28 February 2025. The Annual report serves the purposes of both a Trustees’ report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company'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 (FRS102) (effective 1 January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The principal object of the charitable company is to undertake and promote for the benefit of the public the conservation, protection, improvement and ecologically sustainable management of the marine environment including associated land, shoreline and structures, and to advance the education of the public in the conservation, protection, improvement and ecologically sustainable management of the marine environment including associated land, shoreline and structures.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.

b. Strategies for achieving objectives

The Trustee board closely monitor expenditure to ensure that this is managed efficiently and meets on a regular basis to consider the charitable company's operations and objects.

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c. Activities undertaken to achieve objectives

The Trustees believe that the charitable company is achieving its objectives by supporting other charities with objects in line with its own or by helping to fund educational activities to promote its objects. This is done via grant-making to entities which the Trustees believe are operating in line with the charitable company's objects.

d. Grant-making policies

The charitable company makes grants to such entities as the Trustees consider would actively promote the charitable company's objects. These are presented to the Trustees at the regular board meetings and decisions made based upon the merits of each application.

e. Main activities undertaken to further the company's purposes for the public benefit

Ocean Family Foundation is looking to conserve and sustain the marine environments for the benefit of the public. All expenditure by the charitable company is reviewed against the Public Benefit principles and the Trustees ensure these expenses represent an appropriate use of charitable funds.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025

Achievements and performance

a. Main achievements of the Company

The charitable company does not raise funds from the general public and was consequently able to achieve another year of operating relying on donations alone. The charitable company was pleased to make donations in this period supporting its charitable activities in its chosen area of marine conservation. Where applicable, the charitable company looks to support organisations year on year and it is happy to confirm that another year of payments made towards committed grants has passed.

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies,

b. Reserves policy

The charitable company's unrestricted reserves as at 28 February 2025 were £113,750 (2024: £263,314). The going concern of the charitable company is considered above.

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

The Trustees have set the target level of unrestricted reserves to be a minimum of one year's worth of running costs. As the charitable company has no paid employees, the Trustees believe that the ongoing costs will be minimal each year. Donations are made to such entities the Trustees believe will meet its objects on an ad hoc basis when the opportunity arises and funds are available.

c. Compliance with the Charity Governance Code

The Trustees are aware of the requirements of the Charity Governance Code and ensure the charitable operations comply with this code.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025

d. Principal risks and uncertainties

The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

The Trustees consider the main risks to be as follows:-

1) The loss of the good reputation of the charitable company.

2) The cessation of donations received.

All risks are considered by the Trustee board on a regular basis and efforts are made to mitigate any risks wherever possible.

e. Financial risk management objectives and policies

The Trustees have a risk management strategy which comprises an annual review of the principal risks and uncertainties that the charitable company faces and the establishment of policies, systems and procedures to mitigate these risks.

Structure, governance and management

a. Constitution

Ocean Family Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 20 February 2017.

The company is a registered charity, number 1174759,

The charitable company's registered office is 3 Cadogan Gate, London, SW1X OAS.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charitable company's aims and objectives and in the planning of future activities.

The principal object of the charitable company is to undertake and promote for the benefit of the public the conservation, protection, improvement and ecologically sustainable management of the marine environment including associated land, shoreline and structures, and to advance the education of the public in the conservation, protection, improvement and ecologically sustainable management of the marine environment including associated land, shoreline and structures.

b. Methods of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

The charitable company is managed by the Trustees. The Trustees meet on a regular basis to discuss issues arising and to assess the viability of requests for grants.

The Trustees, who are also directors, who served during the year were:-

D J Till P A D Dubens JS D Getty C L Creasey (resigned 31 March 2024)

d. Policies adopted for the induction and training of Trustees

The charitable company is relying upon the guidance issued by the Charity Commission in relation to the induction and training of Trustees.

e. Financial risk management

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Information on fundraising practices

The charitable company does not actively engage in fundraising activities.

Public benefit

The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025

Statement of Trustees’ responsibilities

The Trustees (who are also the directors of the company for the purposes of company law) 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).

Company law requires the Trustees to prepare financial statements for each financial . Under company 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 Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• ° select suitable accounting policies and then apply them consistently;

• ° observe the methods and principles of the Charities SORP (FRS 102);

• ° make judgments and accounting estimates that are reasonable and prudent;

• ° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements:

• ° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Approved by orderre of the board of Trustees and signed on their behalf by:
D J Till ¢
Date: |\2 L5
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OCEAN FAMILY FOUNDATION (A company limited by guarantee)

er INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025

Independent Examiner's Report to the Trustees of Ocean Family Foundation (‘the Company’)

| report to the charity Trustees on my examination of the accounts of the Company for the year ended 28 February 2025.

This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that | might state to the charitable company’s trustees those matters | am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charitable company, the charitable company's members as a body and the charitable company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions | have formed.

Responsibilities and Basis of Report

As the Trustees of the Company (and 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 Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

• | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by 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 of 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

| 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.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025

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Crowe U.K. LLP Chartered Accountants Medway Bridge House 1 - 8 Fairmeadow Maidstone Kent ME14 1JP

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2025

		Unrestricted	Total	Total
		funds	funds	funds
		2025	2025	2024
	Note	£	£	£
Income from:
Donations and legacies	3	329,440	329,440	645,132
Total income		329,440	329,440	645,132
Expenditure on:
Charitable activities	5	479,004	479,004	424,774
Total expenditure		479,004	479,004	424,774
Net movement in funds		(149,564)	(149,564)	220,358
Reconciliation of funds:
Total funds brought forward		263,314	263,314	42,956
Net movement in funds		(149,564)	(149,564)	220,358
Totalfundscarriedforward		113,750	113,750	263,314

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

The notes on pages 11 to 20 form part of these financial statements.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee) REGISTERED NUMBER: 10628323

BALANCE SHEET AS AT 28 FEBRUARY 2025

			2025		2024
	Note		E		£
Current assets
Cash at bank and in hand		188,604		333,878
		188,604		333,878
Current liabilities
Creditors: amounts falling due within one
year	9	(74,854)		(70,564)
Net current assets			113,750		263,314
Total assets less current liabilities			113,750		263,314
Net assets excluding pension asset			113,750		263,314
Total net assets			113,750		263,314
Charity funds
Unrestricted funds	114		113,750		263,314
Totalfunds			113,750		263,314

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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The financial statements have been prepared in accordance with the provisions applicable to entities subject to
theThe financialsmall companies statenfentregimeom and authorised for issue by the Trustees and signed on their behalf by:
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Date: oy 12 [2s
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The notes on pages 11 to 20 form part of these financial statements.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

1. General information

The charitable company is a company limited by guarantee within the UK. The charitable company's registered company number is 10628323 and the registered charity number is 1174759. The members of the charitable company are the Trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company.

The registered address of the charitable company is:

3 Cadogan Gate London SW1X OAS

The principal activity of the charitable company is to undertake and promote for the benefit of the public the conservation, protection, improvement and ecologically sustainable management of the marine environment including associated land, shoreline and structures, and to advance the education of the public in the conservation, protection, improvement and ecologically sustainable management of the marine environment including associated land, shoreline and structures.

1. 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 Companies Act 2006. Ocean Family Foundation 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.

2.2 Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

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

:

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the date of receipt from the Government.

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OCEAN FAMILY FOUNDATION (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

1. Accounting policies (continued)

2.4 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities.

2.6 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term 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.

2.7 Liabilities and provisions

Liabilities 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 Company 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 in the Statement of financial activities as a finance cost.

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(A company limited by guarantee)

OCEAN FAMILY FOUNDATION

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

2s Accounting policies (continued)

2.8 Financial instruments

The Company 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.

2.9 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 Company and which have not been designated for other purposes.

3. Income from donations and legacies

		Unrestricted	Total
		funds	funds
		2025	2025
		£	£
	Donations	329,440	329,440
		Unrestricted	Total
		funds	funds
		2024	2024
		£	&
	Donations	645,132	645,132
4,	Analysis of grants
		Grants to	Total
		Institutions	funds
		2025	2025
		£	£
	Grantsmade	435,708	435,708

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OCEAN FAMILY FOUNDATION (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

4. Analysis of grants (continued)

The following grants were made during the year:-

Analysis of grants (continued) The following grants werewere made during the year:-year:-
Recipient			Amount
The Africa Foundation		£	133,945
Boat International Media		£	47,300
Oceana in Europe		£	42,278
Trash Hero World		£	32,000
Nekton Foundation		£	30,000
Caledonian Environmental Restoration Trust Final Straw Foundation		£ E	30,000 30,000
Worldrise ONLUS		£	25,753
International Fund forAnimal Welfare		£.	25,491
Fundacion Save The Med		£	16,994
Fundacion Cleanwave		£	8,516
Fondation Tara Ocean		£	8,431
Round Britain eRib Ltd		£	5,000
	Grants to		Total
	Institutions		funds
	2024		2024
	£		£
Grantsmade	379,299		379,299

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The following grants were made during the previous year:-

Recipient		Amount
A Plastic Free Planet Limited	£	100,000
The Africa Foundation	E	86,735
Worldrise ONLUS	£	43,401
Boat International Media	£	43,000
Fundacion Save The Med	£	34,428
Caledonian Environmental Restoration Trust	£	15,000
Final Straw Foundation	£	15,000
10% For the Ocean Cittadini perL'Aria Ocean Pledge	£ E a	15,000 13,278 9,580
FrancescoFerretti	£	3,940

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OCEAN FAMILY FOUNDATION (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

1. Analysis of expenditure on charitable activities

Summary by fund type

	Unrestricted
	funds	Total
	2025	2025
	£	E
Support costs	43,296	43,296
Grants made	435,708	435,708
	479,004	479,004
	Unrestricted
	funds	Total
	2024	2024
	Eg	£
Support costs	45,475	45,475
Grants made	379,299	379,299
	424,774	424,774

1. Analysis of expenditure by activities

	Grant
	fundingof	Support	Total
	activities	costs	funds
	2025	2025	2025
	£	£	£
Support costs	-	43,296	43,296
Grants made	435,708	-	435,708
	435,708	43,296	479,004

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

6. Analysis of expenditure by activities (continued)

	Grant
	funding of	Support	Total
	activities	costs	funds
	2024	2024	2024
	£	E	£
Supportcosts	-	45,475	45,475
Grants made	379,299	-	379,299
	379,299	45,475	424,774

Analysis of support costs

		Total
	Activities	funds
	2025	2025
	E	E
Accountancy	5,124	5,124
Bank charges	507	507
General expenses	7,102	7,102
Insurance	2,990	2,990
Legal fees	971	971
Printing and stationery	1,785	1,785
Marketing	16,000	16,000
Subscriptions	603	603
Foreign exchange	8,214	8,214
	43,296	43,296

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

1. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

----- Start of picture text -----
|||||| |---|---|---|---|---| |Total| |Activities|funds| |2024|2024| |£|z| |Accountancy|4,020|4,020| |Bank|charges|622|622| |General|expenses|1,181|1,181| |Insurance|2,995|2,995| |Legal|fees|3,649|3,649| |Printing|and|stationery|913|913| |Marketing|19,200|19,200| |Subscriptions|524|524| |Foreign|exchange|12,371|12,371| |45,475|45,475|

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |7.|Independent|examiner's|remuneration| |2025|2024| |£|E| |Fees|payable|to|the|Company's|independent|examiner|for|the|independent| |examination|of the|Company's|annual|accounts|2,500|2,500| |Fees|payable|to|the|Company's|independent|examiner|in|respect|of:| |All|other|services|not|included|above|1,750|1,750|

----- End of picture text -----

1. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - ENIL).

During the year ended 28 February 2025, no Trustee expenses have been incurred (2024 - ENIL).

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

9, Creditors: Amounts falling due within one year

	2025	2024
	E	£
Trade creditors	6,154	1,864
Other creditors	65,000	65,000
Accruals and deferred income	3,700	3,700
	74,854	70,564

10. Financial instruments

	2025	2024
	£	£
Financial assets
Cash and cash equivalents	188,604	333,878
	2025	2024
	£	£
Financial liabilities
Financialliabilitiesheldatamortisedcost	68,700	70,564

Cash and cash equivalents relate to cash held.

Financial liabilities held at amortised cost consists of trade creditors, other creditors and accruals.

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

11. Statement of funds

Statement of funds - current year

	Balance at			Balance at
	29 February			28 February
	2024	Income	Expenditure	2025
	£	£	E	£
Unrestricted funds
General Funds - all funds	263,314	329,440	(479,004)	113,750
Statement offunds - prior year
	Balance at			Balance at
	1 March			28 February
	2023	Income	Expenditure	2024
	E	a	=	£
Unrestricted funds
GeneralFunds-allfunds	42,956	645,132	(424,774)	263,314

12. Summary of funds Summary of funds - current year

	Balance at			Balance at
	29 February			28 February
	2024	Income	Expenditure	2025
	£	£	£	£
General funds	263,314	329,440	(479,004)	113,750
Summary offunds - prior year
	Balance at			Balance at
	1 March			28 February
	2023	Income	Expenditure	2024
	£	£	£	£
Generalfunds	42,956	645,132	(424,774)	263,314

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OCEAN FAMILY FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

13. Analysis of net assets between funds

Analysis of net assets between funds - current period

	Unrestricted	Total
	funds	funds
	2025	2025
	£	£
Current assets	188,604	188,604
Creditors due within one year	(74,854)	(74,854)
Total	113,750	113,750
Analysis of net assets between funds - prior period
	Unrestricted	Total
	funds	funds
	2024	2024
	E	£
Current assets	333,878	333,878
Creditors due within one year	(70, 564)	(70, 564)
Total	263,314	263,314

14. Related party transactions

During the year, £222,637 (2024: £189,713) of charitable donations were received from Trustees or entities in which Trustees have an interest.

During the year, a £47,300 donation was made to Boat International Media Limited (2024: £43,000), a company in which a Trustee has an interest, for the provision of an educational free public event. During the year, an expense of £6,154 was incurred from Boltondene Limited for a Trustee dinner (2024: £nil), a company in which a Trustee is also a Director. Included in creditors due within one year is £6,154 (2024: Enil).

Included in other creditors is £65,000 (2024: £65,000) lent by Oakley Capital Limited, a company in which a Trustee has an interest.

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