## OCEANS OF HOPE UK
## FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Bright Brown Limited Chartered Accountants Exchange House, St Cross Lane, Newport, Isle of Wight, PO30 5BZ
## OCEANS OF HOPE UK
## CONTENTS
FOR THE YEAR ENDED 31 MARCH 2025
||Page|
|---|---|
|Charity information|1|
|Trustees' report|2 - 4|
|Independent examiner's report|5|
|Receipts and payments account|6|
|Statement of assets and liabilities|7|
## OCEANS OF HOPE UK
## CHARITY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
|Address:|Front & Rear Basement Flat||
|---|---|---|
||20 Brunswick Square||
||HOVE||
||BN3 1EH||
|Trustees:|Nicola Claire Elizabeth Kaufman|Chair|
||David Allsop|Trustee|
||Mikkel Anthonisen|Trustee|
||Kathryn Turnbill|Trustee|
||Rebecca Puttock|Trustee|
|CEO:|Robert Munns||
|Charity number:|1180234||
|Independent examiner:|Gavin Kelly FCCA, ACA||
||Bright Brown Ltd||
||Exchange House||
||St Cross Lane||
||Newport||
||Isle of Wight||
||PO30 5BZ||
|Bankers:|Barclays Bank UK PLC||
- 1 -
## `OCEANS OF HOPE UK`
## TRUSTEES’ REPORT
## FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report together with the financial statements of the charity for the period ended 31 March 2024. The financial statements comply with the charity’s governing document, Charity Commission guidance on receipts and payments accounts, and applicable law.
The legal and administrative information set out on page 1 forms part of this report.
## Overview
This report is to be read in conjunction with our annual return for the UK charities commission.
Oceans of Hope UK operates sailing events for people with Multiple Sclerosis (MS). We operate in many locations, using donated or rented sailing vessels with qualified Captains and crew in a number of locations around the UK and worldwide.
Our aim is to bring a sense of purpose, community and purpose to our participants. We enable opportunities for learning new skills, physical activity and opportunities for interaction with other people who have MS.
We have actively recruited additional administrative volunteers along with ‘at event’ volunteers. A short training event took place in March.
At the start of the year we bought all of our volunteer crew together on numerous zoom calls to invite more participation from them. We also invited more ownership from them too. Oceans of Hope challenge is now much bigger than two people and we need as much support as we can to develop our activities. Volunteers and skippers contributed so much to the success of this year's calendar and we cannot thank them enough for their valiant effort and support. We have actively recruited new event organisers and hosts that will be responsible for more in 2025. Our team contributed in so many ways to make each particular event as big a success as possible. Whether it was skippering a boat or opening the gate and welcoming guests, we truly feel that we have a great community with a lot to give
The captains and the crew pulled together and worked tirelessly and it was my privilege to watch such caring people work for our reason why. This being to help everybody with Multiple Sclerosis achieve magnificence again.
## CEO Report 2025
## A Year of Challenge, Resilience, and Quiet Transformation
As I reflect on 2025, I am struck by how much this organisation has achieved during a year that tested us in unexpected ways. Several of our key team members faced personal challenges, and naturally this influenced parts of our planning. Yet, what stands out most is not what was delayed or disrupted, but how much we accomplished despite it.
This has been a year defined by resilience—by people stepping forward, stepping up, and stepping into new roles with courage and commitment. It has been a year where our community proved, once again, that we are far more than the sum of our plans.
## Expanding Horizons: New Waters and New Milestones
One of the highlights of 2025 was the expansion of our sailing programme into two beautiful new locations: Sardinia and the Ionian. These new flotillas complemented our always-popular adventures along the West Coast of Scotland, creating a richer and more diverse offering for participants.
A particularly proud moment came when one of our events was administered, hosted, and led entirely without Nicola’s or my direct involvement—a first in our organisation’s history. This milestone represented far more than logistical success; it was a sign that our mission can be carried forward confidently by others.
Captain Bill and Host Camilla took the helm with professionalism, care, and enthusiasm. Their leadership marks a turning point in our journey towards long-term sustainability and wider reach.
- 2 -
## `OCEANS OF HOPE UK`
## TRUSTEES’ REPORT
## FOR THE YEAR ENDED 31 MARCH 2025
## Growing Partnerships and Strengthening Our Irish Programme
Our team in Ireland delivered another vibrant year of activity, hosting numerous events in collaboration with partners such as the MS Society of London and Sailing Into Wellness. These partnerships are becoming increasingly valuable—not only in expanding our programme delivery but in opening new pathways for funding and community engagement.
The work in Ireland continues to demonstrate how collaboration can amplify impact.
## Putting Accessibility at the Heart of What We Do
One of our priorities for 2025 was to deepen our commitment to accessibility, ensuring that more people—regardless of physical ability—could experience the freedom and joy of being on the water.
Thanks to our partnership with the Calvert Trust in the Lake District, we delivered 30 fully accessible sailing opportunities this year. We were also fortunate to heavily subsidise these places, ensuring cost was not a barrier.
These experiences have quickly become some of the most meaningful in our programme, and the feedback from participants has reinforced just how important this area of work is.
## Adventure and Exploration: Norway Aboard Saeftinghe
Our love of adventure remains at the heart of who we are, and our two-week voyage aboard the tall ship Saeftinghe through the fjords of Norway was a reminder of the transformative power of shared experience.
Across all our programmes in 2025, we delivered 176 sailing opportunities across seven countries—an achievement that reflects the dedication of our team and volunteers, and the growing appetite for the kind of community we are building.
## Strengthening Our Foundation: People, Leadership, and the Path Forward
Over the past two to three years, Nicola and I have felt the increasing pressure on our small core team as the organisation has grown. With our tenth anniversary approaching, we set a clear intention for 2025: to strengthen our internal foundations so we can continue to grow sustainably.
This year we welcomed a new fundraising team of three, who are undergoing training and receiving ongoing support. Their commitment and energy give us great confidence for the future.
Our administrative capacity has expanded too, with three enthusiastic Event Administrators now supporting the delivery and coordination of programmes. As demand rises, we expect to grow this team further in 2026.
Perhaps most exciting is the formation of our operational leadership team, a group of committed volunteers who now meet regularly with Nicola and me to develop and drive forward future plans. Their involvement has brought fresh perspectives, renewed energy, and a shared sense of ownership that will shape the next stage of our journey.
## Looking Ahead with Purpose
2025 reminded us that progress is not always linear. Sometimes the most significant steps forward emerge during the most challenging seasons. The expansion of our programme, the strengthening of our volunteer teams, and the deepening of our partnerships all happened in a year where we were forced to adapt, slow down, and depend more on one another.
As we move towards our tenth anniversary, we do so with a stronger foundation, a broader community, and a renewed sense of purpose.
The organisation is evolving—not just in size, but in maturity and capability. And while the year tested us, it also revealed the depth of commitment and passion that exists across our entire community.
I look forward to carrying this momentum into 2026 and beyond.
- 3 -
## `OCEANS OF HOPE UK`
## TRUSTEES’ REPORT
## FOR THE YEAR ENDED 31 MARCH 2025
## Financial Review
During the period the charity received income of around £96,000 (2024: £86,000), and paid expenses of around £82,000 (2024: around £67,000), giving rise to a surplus of around £14,000 (2024 around £19,000).
At 31 March 2025 the charity holds £72,260 (2024: £59,621) in unrestricted free reserves. Reserves are held for the ongoing benefit of the charity to allow for the charity to meet expenses as they fall due, and to provide support for the charity to meet the unanticipated costs or circumstances that all organisations must contend with from time to time.
## Principal Sources of Fundraising
During the period the charity received income of donations of £22,500 from Superyacht charity, £5,000 from Hillary’s Dream Trust and £5,000 from the Happy Charitable Trust.
## Structure, Governance and Management
The charity is a Charitable Incorporated Organisation governed directly by Charity Law and regulated by the Charity Commission of England and Wales. It operates under its constitution.
In selecting individuals for appointment as appointed charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Oceans of Hope UK are an affiliate member of the RYA Sailability program.
## Statement of Trustees Responsibilities
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with Statements of Recommended Practice and the regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
- 4 -
## OCEANS OF HOPE UK
## INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025
I report on the accounts of the charity for the period ended 31 March 2023, set out on pages 6 to 7.
## Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
• to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and • to state whether particular matters have come to my attention.
## Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioner. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that in any material respect the requirements:
- (a) to keep accounting records in accordance with section 130 of the 2011 Act; and
- (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gavin Kelly, FCCA, ACA Bright Brown Ltd Exchange House St Cross Lane Newport Isle of Wight PO30 5BZ
Date: 21 January 2026
- 5 -
## OCEANS OF HOPE UK
## RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025
|Unrestricted
funds
£
RECEIPTS
Event income
47,756
Grants and donations
48,553
Interest received
8
TOTAL RECEIPTS
96,317
PAYMENTS
Wages
15,539
Travel and subsistence
6,402
Merchandise costs
-
Equipment (boat) hire
48,028
Fuel and moorings
1,100
Food
823
Other
994
Prizes and gifts
-
IT and telephone
905
Subscriptions
120
Marketing
4,152
Insurance
1,017
Printing, Postage and stationery
67
Finance and accounting
2,480
Governance expenses
648
Exchange differences
209
TOTAL PAYMENTS
82,484
NET INCREASE/(DECREASE) IN CASH FUNDS
13,833
Cash funds brought forward
58,427
CASH FUNDS CARRIED
FORWARD
1
72,260|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,194
1,194|Total
2025
£
47,756
48,553
8
96,317
15,539
6,402
-
48,028
1,100
823
994
-
905
120
4,152
1,017
67
2,480
648
209
82,484
13,833
59,621
73,454|Total
2024
£
30,982
55,370
-|
|---|---|---|---|
||||86,352|
||||13,571
7,578
1,298
36,810
2,483
12
905
600
1,729
150
380
961
205
540
10
(126)|
||||67,106|
||||19,246
40,375|
||||59,621|
Approved by the trustees and signed on their behalf by:
- 6 -
## OCEANS OF HOPE UK
## STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2025
|Unrestricted
funds
£
1 CASH FUNDS
Current account
64,096
Euro account
8,164
72,260
2 OTHER MONETARY ASSETS
None
3 ASSETS RETAINED FOR THE CHARITY'S OWN USE
None
4 LIABILITIES
None|Restricted
fund
£
1,194
-
1,194|Total
2025
£
65,290
8,164
73,454
Current
value
£
-
Current
value
£
-
Amount
Due
£
-|Total
2024
£
58,726
895|
|---|---|---|---|
||||59,621|
||||Current
value
£
-|
||||Current
value
£
-|
||||Amount
Due
£
-|
- 7 -