Reglstered Company Number CE019453 (England and Wales) Regi¥lered Charity Number.. 1186160 Report of the Trustees and Unaudited Financl81 Statements for the Year Ended 31 Marth 2024 Sea Trust Wale$ Ty Llwyd Llmitad Va Pritchard & Co Chartered Certified Accountants 16 M8in Street Fi3hgu8rd Pembrokeshire SA85 9HJ
Saa Trust Walos Contsnts of the flnanclal Statements for the year endgd 31 March 2024 Page Report of the Tru$t¢es Ind•p•ndent Examiners Report statement of Financial Affalrs 10 st8tements of Assets and LiablitIeS 11 Notes to the financial statem¢nls 12-15
Sea Tru51 Wales Report ofthe Committee of Management ft)r the year ended 311t March 2024 Page 2 The committee of management presents its report th the financial statements for the charity for the year ending 31st March 2024. REFERENCE AND ADMINISTRATIVE INFORMATION CHAIRPERSON.. Cliff Benson TRUSTEES Name. Fran Eggby (Secretary) Name.. Anthony Lucas Namè.. Cliff Benson Name.. Clive Cross Name.. Marilyn Jenkins {Treasurerl REGISTERED OFFICE Ocean Lab, The Parrtsj, Goodwick. Pembrokeshire, SA64 OOE REGISTERED COMPANY NUMBER CE019453 (ENGLAND & WALES) REGISTERED CHARiff NUMBER 1186160 ACCOUNTANTS Prrt¢haTd & Co., 16 Main Street, Fishguard, Pembrokeshiré, SA65 9HJ BANKERS Lloyds Bank plc, 7 Victoria Place. Haverfordwesl Pembrokeshire. SA612JX STRUCTURE, GOVERNANCE AND MANAGEMENT The charity FS a companyllmiled by guarantee and none of the ¢)fficers hold any shares in the company. A committee of trustees administers the charity. As identified in the constitution the members of the CIO Shall be its charity trustees for the time being. The onty persons eligible to be membeis of the CIO are its charty trustees. Membership of the CIO cannot be transferred to anyone else. Any member and charity trustee who ceases to be a charity trustee automatically ceases to be a member of the CIO. Governing document: Sea Tnjst Wales is a Charitable Incorporated Organisation govemed by its Memorandum anLI Articles of A$Sl8110n., it is also a registe charity with the Charlty Commissioners. Trustee selection matttods.. As sel out in the constitution (apart from the first charity trustee$} every trustee must be appointed for a term of up to four years by a resolutson passed al a properfy convened meeting of the charity trustee$. New Iruslees undergo an orient8tson session to brief them as to their legal obligations under charity and company law, the committee and decision-maklng processe5. the business plan and recent financial performance of the ¢h¥rity- During the induction period they will meet all employees. trustees and committee members. Trustees are encouraged to attend èxternal tralning events that will facilitate the undertaking of their rol8. The board of tru$lees meet regularly and administers the charity. OBJECTS AND ACTIVITIES The objects oflhe Charity are as folbws. 1. To advanco thg 9du¢ation for the public benellt In the subjects of marfno and froshwat•r wlldllfo, marlne gfbvironm•nts and th• physlcal and natural envlronment In goneral and it6 conservatlon. 2. To promote for tho benefft of the publlc, th• con¥ervatlonJ protsGtlon, and Improvement of the physical and natural environrnent, 8pecmcally but not exclusivety lh¢ Welsh marltlme frnvlroDment and Its bordering coastllne.
Sea Tlust Wales Report cf the Committee of Management for the year ended 31& March 2024 Page 3 2023-24 End of Year Sea Trust Wala8 Chairpernon'• Report Sea Trust W8les is a marine wildlife conservation Charity based in Pembrokeshiré. Our misslon is to encourage local people to take care of their marine wildlife. We b81ieve the only way to truly protect our natural heritage 15 Wrth people power, but people onty protsct whal they care aboul, and they onty care about what they know or éxperience for themselves. At Sèa Trust w• are committed to: Studying, raising awareness and caring for local marirse wikilife. This also involvès the study and need to be aware of the freshwater environments and their biodiversty that will affect and Influence thg integrity of our marine environment and bl¢)diversity. Inspiring the general public to care about their environment by opening their eyes to Ihe stunning diversity of wildlife and habitats around the Welsh coast. Engaging with the public, resulting in positive changgs in attitudes and behawours towards the protection of marine wildlife. In order to do this, we carry out ground breaking scientific research projects, such as our porpoise photo-ID surveys and always remain up to date and cUrn1 with the latèst search. We carry oul regular marine mammal surveys by land, small boat and ferry. We also work on projects to limit the amount of plastic entering our oceans. We run educational events for schools, community groups and the general public. Our Sea Mbr Aquarlum at the Ocean Lab, Goodwick, houses Iccal species that emulate a variety of marine ecosystems, giving visitors a chance to glimpse1rf8 benealh the waves of th8 Irish Sea. Overvlew Aprfl 23 lo March 24. We began the year facing several Challenges, with more lo come. Desprte this, the charity managed to meet the challenges head-on, proving the resilience of the charity, its staff, volunteers, and trustees. In April 2023, after an irretrievable breakdown in negotiations with prospective tenants for the cafè space in Ocean Lab il was agreed that Sea Trust Community Interest Company would run the café as a subsidiary of the Charity. The Ocean Lab building. including the café space, was closed to the publi for repairs, cleaning, and redecoration throughoLtt April. After significant hard work from staff, trustees, and volunteer5, we rtropened in May 2023 with a newly refvrbished shop. aquarium and café. It is the intention that once investment loarrs necessary to refurbish the café kilch@n a repaid, any proceed5 from the income generated by the café will bè us8d lo support the charity in meeting its objectiV8S. This works towards our long-term goal of bécom5ng more self-sufficient, and less reliant on grant funding, which is becoming increasingty compet115ve lo oblain. In August, after several years of hard work for Sea Trust Wales as Projects Managèr, we were very d to see Anna Elliott move on lo a role with Pembrokeshire Coast Nabonal Park. Thankfully, she slill Supports the chartty voluntarity as an advisor. Anna was su¢¢eeded by Holty Dunn {previously Project Offic8r) until January 2024, when Holly moved on from Sea Trust to a role in Natural Resources Wales. Holly also continues to support us as a volunteer and advisor. Unfortunately, we cannot Compete with larger organisalions in temis of wages and career advancement. Although it wa8 a blow to lose senior members of our leam, it highlighted that Sea Trust was eble to provide fvKJ excellent individuals with the opportunity to develop th8ir skills and expeTEn. We wish them both well in thèir fvjture careers. In January 2024, Nadia Tomsa {formerly our Education and Outreach Officer) $tepFed up into the role of Projects Manager. We took the opportullity to restrucbjre the staff team to include more financial and administrative support. This would allow the charity to nttK)n more efficienlly, 8llowing the marine biologists to focus on delivering its aims and objectives, whilst gaining expertise In administration and finance- aaS in which Sea Trusl was previously lacking. In September 2023 we took on a part time finance assistant Friederike Schmidt lo help with nagIng the financial side of the Char-ty. In February 2024, we appointed Sam Cox as our part-time Ch¥rity Administrator, and Anna Webberley as our part-time Marine Conservation AssistanL Sam ha5 exlIent experience
Sea Trust Wab$ Report of the Committee of Management for the year ended 31st March 2024 Overvlew Aprll 23 to Mareh 24 Contlnuedl. working with charities and has already greatly improved Sea Trust's administration, policies. and general day-to-day running. Anna is a recent graduate who works across a range of Se8 Trust's pro1 and coordinates our education and oulrea¢h. Lloyd Nelmes continues to manage the Aquarium and is the Project Officer for the Recycle Mor project. Despite the challenges faced by trustees and staff during these 12 months, we have contlnued with our projects, largely funded by the gift shop and aquarium proceeds, As always, we have had oVehelmIng support from our many voluntsers. A core Yolunleer group 'The Maint&nance Team., perfomed maintenance and decoration of the building, even supplying plant displays for the Cafè. The shop team of volunteers, lèd by Cerian, have transformed the gift shop, making it an important ¢ontribLrtor to our income. Others have worked in maintaining the Aquarium. allowing us to qualify for a z Licence, Other regular volunteers have continued to contribute to our Porpoise Photo ID and wildlife sutvey work. We have also worked with numerou5 University pla¢èment students and interns throughout the year, They have made significant contributions to the work of the chanty and are an Important part of the Sea Trust team. Currnnt Pro ects Page 4 Recycle Mor We continued our Recycle Mor proj8¢t with limited funding. Recycle Mor is a project that aims to Iransfomi a fishing waste problem into a highty valued resource. This project is led by Project Offir Lloyd Nelmes. The projecl aims to create a pathway that incentivises a circular economy solution Ihat benefits both the marine environment and the fishing community. This is achieved by recycling fishing industry waste such as fishing nets, rope and trawler nets and producin9 high-value products. We now have 9 bins in harbours around Pembrokeshire, with an extra drop-off point at Ocean Lab. We retsived £4,192 in Decemb8r 2023 from a Crowdftbnder with match fvnding from the Save Our Vwld Isles Community Fund, Aviva Employee Giving, Aviva Community Fund, and Solus Employee Giving. This funding, alongside donations. allowed us to continue running the Recycle Mor project, ¢overing 1 day per week of Lloyd's tlme for collecting and soth'ng the fishing waste, and travel tolfrom the harbour bins. There is a large community baoking for the Recycle Mor project and we aim to rther fund and expand the project in the next financial year FINtastl¢ Fauna The FINtastic Fauna project was launched in 2022, lo conb'nue our harbour porpoise photo ID research, contribute to the conservation of Pembrokèshire's marine megafauna, and promote and ise awareness of marine wildlrfe and conservation in the local community. The project works with groups of volunteers, trained as citizen s¢ientists to complete wildlife surveys, and has a large public outreach element with school vislts and community talks. This project not only allows for ground- brsaking 5C16nlific rese8rch, which will aid with future conservation decisions and developm&nts, but it also brings it down lo a basic level, bridging the gap betsveen science and the public. Due to the community engagement and volunteers associated with the project, we wanted to ensure thè project continued. Whilst grant funding for this ploit ended in March 2023 and we were unlucky with further funding application8, we continued the project through the 23-24 financial year with bjnding via our aquarium and shop proceeds and donats'ons. Wildlife surveys ntinUed with teams of volunteers up to four times a week, coordinated by our Projects Manager and Volunteer Day Leaders. We continued to process the photographs and data collected, adding to our catalogue of id8nb.fied Harbour porpoises- now rn0 than 200 individuals. This research is vital in exploring Pembrokeshire's cet8cean populations, and we aim to continue the project going fofward. Ocoan Lab Aquarium The Ocean Lab has a small catcfvand-release aquarium, open to the public for most of the year. Ocean Lab also acts as a Visitor Centre where people can ask questions about local wildlife and the local ar8a, and report animals in distress. The Sea Mor Aquarium is home to a variety of local manne creatures, representing the diversty of life found in Welsh waters. The aquarium allows ¢lose-UP
Sea Twst Wales Report of the Committee of Management for the year ended 318t March 2024 Ocean Lab Aquarlum (¢ontinuedl. views of the animals possibty only glimpsed in their natural environment. The guided lour. provided by Sea Trust marine biologists, is packed full of fun facts and is a chance for Sea Trust to highlight the dangers that our marine environment kns and also educate people on how they can help lo prote¢t Page S 11 was decided that the aquarium needed a Zoo Licence due to tts growing svze. The expansion of the aquarium was a slow process, adding a new tank every year or so over the last several years. Due to the uniqueness of the aquarium being one of only tsvo catch-and-release aquariums in the UK, it has often been difficuK to deterrnine the relevant licences needed. We decided to apply for a Zoo LinCe which would provide us with more fiJnding opportunities. official vet inspection5 and help, and ac¢ess to extra qualifications. Importantty, the licence will also allow us to expand the aquarium, providing us with more income opportunrties and the ability lo educate thé public on a wider selection of local marine species, aiding in our ¢harity'S alm ol raislng awareness of Wales, rnarine life through public education. We were awarded the licence on the 12th of April 2023. This year we continued to work on èxciting University research projects. We assisted Cambridge Universty wf(h a researth project that is investigating how the tr'ny sea slug, Elysi8 wiidis. nicknamed the Solar-powered sea slug, hamess8s energy by stealing cells from the algae that they eat and incorporating them into their skin which enables them to gain solar energy. Scientists are studying these amazing creatures lo see how this ability can be mimicked and potentially used in new solar technology. We have the solar-powered sea slug in a live display as they are o)mmonly found on Goodwick Sands. The aquarium hosts school and community groups throughout the year for aquarium tours and educational workshops. These visits often also include a Seashore Safari - gued rock pooling on Gcx)dwick Sands. The sessions directw engage local people and Ghildren with their local marine wildlife, highlighting conseNation issues and peaking interest in nature from an early age. In 2023-2024. we had 6262 vlsilors to the aquarium. consisting of both locals and tourists. We had a fvrtmer 200 visitors trom local schools and cnmmunity groups. The aquarlum rewopened in May 2023 after Wnler refurbishments and remained open until November 2023. Vve then dosed for the Wnter, before re-opening in the February 2024 school half-term. Dlscovgr Mor Discover Mor was a new prqect for this year. running from April 2023- April 2024. The project was funded by the Waterloo Foundation and the National Lottery Community Fund1£25,000 and £10,000 respe¢tivetyl. The environmentsl education project achieved its aims of working with local people and schools to connect people with their marine world, increasing awareness of the amazing diversity of Pembrokeshire's seas. The project all¢Ned our Education and Outreach Officèr, Nadia Tomsa (now Projects Manager), to become fUltiMe at Sea Trust. Duflng the year of the project. wè developed an edUcatnal Marine Discovery Room at our bage in Ocean Lab. expanded our Marine Biology Club. developed a Virtual Reality {VRI experience, and engaged with numerous local schools and groups- providing aSSIble leaming opportunities foi communities. The Marine Discovery R¢)om was originally a soft play area. This area of Ocean Lab was no lortger used and had become run down. We started renovating the Discovery Room in April 2023. We were extremely lucky lo have a dedicated team of maintenance volunteers working on the project. The room was refurbished to includ6 a VR Experience space. a small children's play comer, a microscope workbench, and STEM-themed displays including an interactive virtual rocksy)oling exhibit "F11 y Mof. The rock pooling exhibit allows visitors lo virtually explore Pernbrokeshire rock pools, practising their species10 skills and completing surveys. This interactive display increases accessibility to the rocky shore, allowing people 8 dose-up view of rockpools without the elements and rocky terrain. Children from Design Technology in Ysgol Bro Gwaun created a matching acbvity for the wall of the children's comer. The Discovery Room is fre8 to enter at Ocean Lab. The Discovery Room officially opened in time for the SchiKtrI Summer Holidays in ju 2023. The lority of visitors to Ocears Lab, especk8lly families, also visited th8 DB¢overy Room. Theretore, we estimate that thè Discovery Room had a footfall of over 6000 people duiing the proje¢t period.
Sea Trust Wales Report of the Committee of Management for the year er)dèd 31# March 2024 Dlscover Mor l¢ontlnuod) The VR Experlence was developed over the first few months of the project. Filming and productlon of e VR Experi8n¢e was carried out by JWJT Media. The experience transverses through Pembrokeshire's underwater wodd. with educational narration of habitats Including rockpools, bays, and offshore. The VR Experience allows users who wouldn't ordinarity be ab to access the underwater world to be irnmersed in Pembrokeshire's incredible marine environment. The VR Experiencè has been used by a large range of ages, from 7-year-olds to 90-yeaT-olds. We found thal elderly people were cften very excited by the experience, with several commenting that they either were no longer able to access the 0¢8an or never have. The VR Experience was taken on a school roadshow as part of our Discover Mor sessions. These sessions were aimed towards Secondary Schools with groups learning about PeMbrOkeshi's rocky shore and marine environm8nl, using the VR Experience, and caTryirsg out a virtual rocky shore survey. We engaged with 18 schools and more than 61)0 children. Page 6 We continued running our Marine Biology Club and expanded the groups to indude a larger age range {10-16 year olds) and more participants- another 20 partiGipants over 2 groups, we now have a lotsl of 45 participants over 3 groups. Marine Biology Club is an after-h0o1 group engaging young people with STEM, UK marine life & habitats, and nature conservation. We created free educational resources available to download from our website an(J worked on our social media engagement and had several viral videos over the year. Our Facebook reach during the project was 436,900 and cur Instagram a¢h was 18,000. One of our videos reached 90,800 views. with another ¥chIng 56,100 views. Pwll y M()r We received funding in Janu8ry 2024 to develop Pwll y Mor- an onlin8 citlzen science tool. Pwll y Mor is available to the public through IiftP'- ilPl.!IyTgF com., Dr Jon James developed Pwll y Mor in collaboration with Sea Trust Wsles. Rockpool photomosaics are created with many overlapping photos of a rockpool, stitched together to form a pemanent high-resolution image. These photomosaics can then be Lbploaded to the website, allowing the user lo virtualty explore and suNey a rL)ckpoDI. Species in tne rockpool can identified and catalogued, using Ihe online suNey tool. This project continued into the 24-25 financial year, with the project ending in June 2024. During the project, we achieved our aim tolaunch the user-friendly novel citizen SCIen website and direGUy engaged the public and loGyl $¢hools with Pernbr0keshi'S rccky Sho habitst. As we advance, F11 y M6rfs catalogue of Pembrokeshire rockpool photomosaics will Create scope for fvlure research projects, determining spe¢ies distribution and habitst changes over time. The lafge amount of data ¢0118Cted through citizen s¢ience surveys can be used to monitor our rocky Shore. also ran School and communty workshops to engage the public with the project. A Gr••ner Ocean Lab We received £21,407 of funding from the Pembrokeshire Coast National Park SustainabL• Development Fund ISDF) and £10,000 from Transition Bro Gwaun Community Climate Fund to install grid-connected PV $018r system on the Ocean Lab roof. We faced several challenges with finding a solar pan81 installer for the project. due to Ocean Lab's sloping roof and unusual roof materials. This meant that there were very few solar panel installers able to Mplete the installation. After deciding to go with a company with a brand-new technology of stick-on solar modules which would be suitable for the roof material, unfortunately. we then faced even more barrièrs with the adhesive being unsuitable for our windxposed roof. Due to the many issues throughout the projecl, our funders granted us an extension of the project until January 2025. We then obtsined a refund of any money provided to the company at the end of March 2024. Thi8 project has continued into the next financial year. Wam Room Project We Dperaled a Warm Room upstairs in the Ocean Lab café from 12th December 2023 to the end of March 2024. We received £1928.97 of funding for this project from the National Grid Community Matters Fund. For this project. We employed a member of staff (Tanya Rick8rdl for 5 hours every week to facilitate the warm room.
Sea TnJ$t Wales Report of the Committee of Management for the yoar ended 31* March 2024 Warni Room Projoct (continu). The wam room operated every Tuesday betsvaen 11 am and 2 pm. offering a free hol drink and cake plus discounted hot food to attendees. Thermos fla$ks were given to the first 50 people who attended. We also offed free garrEs, puules. and a book swap in Ihe wam room space. Guest speakers and different organisations came every other week to give information, advice and help lo people who We attending. Organisations included a Community Fuel advicè coordinator, Cwm Arian - Smarter energy support service, and ? Local Health Board community nutrition practitioner. We identified a nee(1 in the local area for people who need support and advice on en8rgy efficiency and cost. This projeGI helped the charity to engage and build relationships with the local and wider communty, parti¢ul8rly in supporting older and more vulnerable groups. It helped us to identfy specific groups that needed support and learn where to signpost them for information, rf necessary. Page 7 Futuro Pro ects Insplre Mor The Inspire Mor project would aim to educate local children about the marine environment and wildlife in Pembrokeshire through our Marine Biology Club and school visit sessions. We want all children to be able to have access lo the club so they Gan learn about marine wildlife, regardless of income or background. The club is currently free for 10-14 y8ar olds and we would like to Continue this. We would additionally likè to be able to offer our 15-16 year old sessions for free too, as these sessions currently require a fee. We would like lo intrtySu¢e new topics for school visits and expand our work mole into Secondary schools, as we have often spent lots of time with Primary schools. Wtlh Inspire Mor, we'd a150 like lo obtain equiprnent such as binoculars, quadrats, naturalist guides, and other suvvey rnaterials to use with and loan out to our Marine Biology Club attendees. We would also like to Invrte rnor8 external Speakers and organisalion$ to engage with the club. Contlnued Pro'octs Both our A Greener Ocean Lab and Pwll y Mor projects have continued into 24-25. We aim to install solar panels on Ocean Lab's roof by the extended deadline of January 2025. This will be an incredible asset to Sea Trust, and a big athievement after a challenging project. The Pwll y Mor prO1t will ¢onb'nue to be deveklped, with more workshops, educational school sessions, and website éevelopmenL Donatlon8 We receive regular donations vla our Ocean Lab donation boxes, L¢)cal Giving pages, Fabook birthday fvndraisers, events and other fvndrai$ing events. This year we r1Ved a total of £38,375.67 onalions. Volunteors Wè have a total of 43 volunteers at Sea Trust, across a range of rolés. Wè have a team of 4 volunteers who work on our maintenance team, bringing their excellent skills to rnaintsining and enhancing Ocean Lab, volunteers who work solely on our Porpoise Photo ID research, volunteers who work on the front desk or in the aquarium, and volunteers who contribute to several roles wrthin Soa Trust. We provide training to volunteers and often provide career skills15uch as aquarist experience) to our young volunteers, allowing them to progre55 their careers. We rely a great deal on our incredible voluntew8 and would not be able to deliver half of what we do without them. Interns and Placem?nt Students Our placement student from Swansea University worked with us until June 2023. We then had tsvo great interns with us for July and August of 2023. These interns worked with us through the busy visitor season on aquarium tours, surveys. and projects. In September 2023, we were joined by four students from a vari•ty of universities on 10-month placements. We pride ourselv&s in working with range of Univ8rsilies and College5 a¢ro$$ the UK and providing much-needed experience and opportunities lo the next generation of marine scientists and conservationis15. The placement students are a huge asset to Sea Trust during their time with us. bringing enthusiasm, and exciting new proj8¢ts and research ideas.
Sea Trust Wales Report of the Committee of Management for the year ended 31 rt March 2024 Summa Page 8 2023- 2024 was not easy for Sea Trust Wales, but we prevailed, emerying bigger and stronger. We are improving our income streams and aiming to become less dependent on grant funding, although we will sts'll be applying for suitable grants to enable our projects to continue and grow. We are confident that with our exlIent team of staff, interns, placement students, trustees. and volunteers, our ouUcok is extmelY positive, with our team delivering a great deal of C.A.R.E IConseTvation. Awareness raising, Research and EdutIOn). cliff Benson {Chair, Soa TruBt Wale8 CIO
Repprt of trÈ8 Independent Examiner to The Tiustees of Sea Tru8t Wales for the ye8r ended 31 March 2024 Page 9 I report on the accounts of Sea Trust Wales for thg year ended 31st March 2024, whlch are sel wl on pages Ioto 15. RospKttvo re¥ponslbllltlo8 of trustO08 and exarnlner The charity's trustees are re8pon8lble ts the preparation of the accounts. The charity's Irustses consider that an audit Is nol required for thls year under sect¢on 4312) of the Charities Act 1993 Ilhe 1993 Act) and that an indgpndenl examination is needed. 11 Is my respon$lbllity to.. - exarnine the accounts under tIon 43 of the 1993 Act., . to follow the procedu5 lald down in the general Directions given by tha Charity Commlsslon under section 43{7}Ib) of the 1993 Act., and - to slate whether particular matters have ffle to my attenlion. 8as16 of Indapond•nt lmIn9$ rgport My examlnatlon was carrfed out In accordance wh the general Direcllons given by the Charity Commission. An examlnaUon Includes a review of the accounting records kept by Ihg charity arKt a cornparison of the accounts presented wllh those re¢ord$. It also includes wnSideraOn of any unusual items or disclosure5 in the accounts, and Seeking explanations from you as trustse6 Gonceming any such matters. The procedures undertaken do not provide all the evidence that would by required in an audit and consequently opinion is given as lo whether the accounts present a Irue and fair view, and the report Ss limilgd to those matters set out in the stalemenl below. Independ8nt •xamlnef8 8tatement In COnneOn wrth my examination, no matter has come to my attention.. 111 whith gives me reasonable caLtse to bdieve that in any materfal respect the requirements: - to keep accounllng records in accordance with 8ection 41 of the 1993 Act". and - to prepare accoLtrnts whlch accord with the accounting record¥ and compty vlth the &counllng raquiremenls of the 1993 A hava not been met., or 121 to whlch, In my oplnlon, attentlm Should be drawn In ordgr to enable a proper understanding of the accounts lo be reoched. S.J. Daviès B.SclHo on, FCCA Chartorgd Cortlfled Accountant Ty Llwyd Llmitgd tla Prltchard & Co 16 Maln Street Fishguard Pgrnbrokeshlre SA66 9HJ 10th January 2025
Sea TrJstWa1es Statqrnent of Flnandal Nthvfti86 for lh8 y•ar anded 31 March 2024 Page10 31 Mar 2024 Totsl funds 31 Mar 2023 Total fund5 Unrnstrietod Restrtctsd funds funds INCOME Donation5 and *ac Grants Charitable actlvltles Other tradlng activlt Invesbrent 35,1)J4 35,1>)4 23,40e 18,763 110,321 73 187.567 6,438 88,241 2e,749 40.568 23,406 11,579 7,184 110,321 73 152.582 34,985 161,996 EXPENDITURE ON Charrtable activSlks other tr8dirrfJ actlvbuob Mlnagemenl Flnanc• Infomation Tethnol¢gy 28,970 93,532 45.448 36.899 6,909 1,777 164,565 41,934 79,025 45,987 143 850 167 939 4S,448 3e.8 1,777 155,595 28.970 NET INCOMEIEXPENDrruREI 13,0131 8.015 15,9431 RECONCILIATION OF FUNOS Tolal funds breught Ioww8rd 21,854 2S,970 47,824 53,567 TOTAL FUNDS CARRIED FORWARD CONTINUING OPERATIONS All incDme aThJ expendlturg has arfsen frcffl ¢Mtknukng actNiI88
Sèa Trust Wales Statement of Assets and Ltabilities as al 3151 Marth 2024 Page11 31 Mar2024 31 Mar2023 Total Total Fund$ Funds Unre5tdrted funds Reslrfcted fund8 Notes FIXED ASSETS Tanglble Assets 126940 128,940 126,940 126,940 126S40 126,940 CURRENT ASSErs Stock Debtors Bank acccunt and Gash In hand 9,134 4,354 59,533 73,021 9,134 4.354 91,519 105.007 490 162 93,105 93,757 31.98fj 31.988 TOTAL ASSETS 199,S61 31,988 231,947 220,697 CREDITORS Amounts falllng due within one year 38,440 38.440 48,073 Amounts falllng In more than one year 142,881 142.881 125,000 TOTAL LIABILITIES 181,321 181,321 173,073 TOTAL ASSETS LESS TOTAL LIABILITIES 18,640 31,986 50,626 47,624 NET ASSEfsi{LIABILITIES) 18,e40 31.986 50,626 47,624 FUNDS Unraslricted funds Restrfcted fund8 18.640 31.986 21,654 25,970 Total fund$ 50,626 47,624 For the period ended 31st March 2024 the company was entilled to exemption under s477 of the Companies Ad 2006 rolatlng to small companles. The memberd have not requlred the company to obtsln an audft in aGGordance wtth section 476 of the Companies Act 2006. The dire¢tors acknowledge thelr responsibilrties for complyin9 W'rth the requlremenls of th8 Act with respect lo accounting led8 and the pr8paTation of accounts. These accounts have been prepared in acudance wtth the provision8 applicsble to companies subject lo the small companies regime. Approved by the board and signed on their behalf by Clifford Benson 10th January 2025
Sea Trust Wales Notes lo the Accounts for the year ended 31 March 2024 1. Accountlng Polici•s Pag8 12 Basls of AGGountlng The accounts have been prepared under the historical cost convenllon and in accordara wlth appllcable UK Accounting Standards. In preparing the accoun18 the charity follows best pradice 88 Sel out in the Statement ol Recommended Practice 'Accountlng an Reportlng by Chartti&$' ISORP FRSSE) effedve 1 January 2015. Income Income is recogni8ed in the period in which the charity 1$ entitted to re¢8iPt and the amount can be rnured wth reasonable ¢ertainty. Expendlture Liabilities are reoognisod as expanditure as soon as there is a legal or constructive obligation committing the ¢harity to that expenditure, it is probable that a transfer of economic benefrts will bè required in setuémenl and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrual$ basis aThJ has been classrfied undgr heading$ that aggregate all cost related 10 that ¢alegory. Where costs cannot be directly attn"buted lo particular h9adings Ih&y havg been allocated to actilieS on a basis consi$t6nt with the use of re3ouTh$. T•xatlon The charity is exempt from tax on its charltable activttles. Fund aecountlng Unrestricted funds can be used in accordance wth the Gh¥ritable objecttves al the dls¢relion of the trustees. Restricted funds can only be used for a particular re8triced purposes wilhln the objects of the chanty. Reslriclic*is 8riso when Specled by the donor or when funds are raised for partlcuiar restrlcted purposes. 2. Donatlons. Legac1 & Other Income 31 March 2024 31 March 2023 Donations Grants Charitsble activitles Other Ir8ding acivilies Investments 35,004 33,513 18,763 102,933 73 190,286 6,438 88.241 26,749 40.568 161,996 3. Charltsbl• actlvitiOS Dlrect Cost$ Support Costs Isee note 4) Totsls Charitable actlvlties Management Costs 138,980 138,980 45.585 45,585 138,980 45,585 184,565 4. Supportcogts Infomi8tion Gowemancg Technology eosls Managernont Finance Total8 36,899 6,909 1,777 45,585
Sea Trust Wales Notes to the Accounts for the year KIed 31 March 2024 S. Trusts88' remuneratlon and benefit8 There were rK) trustees, MUner8.0n or other beneffts for the year ended 31 Mar¢h 2024. Trusto0¥' expenses There were fK) Iruslee8' expenses paid for the year ended 31 March 2024. 6. Staff Costs The average number of monthly employees during the yeaT was as follows:. 31 March 2024 Page13 31 March 2023 7. D91rt0rn 31 March 2024 31 March 2023 Trade debtors other debtors Prepayments 112 197 4.045 4,354 162 162 8. Crodltors: arnounts falllng due after more than one year 31 March 2024 31 March 2023 Trade Creditors Social Security ad other taxes Penslon scheme Otrer creditors Mortgage Sea Trust Cc¥nmunlty Interest Company Accrua13 and deferrgj income 1.754 1,475 309 338 2,577 3,658 24.315 20.100 48,073 29,266 35,719 9. Credltors: arnounts falllng due after more than on• year 31 March 2024 31 March 2023 Mortgage Sea Tru8t Corrffl7unity Intere81 Company 118,819 24,062 142,881 125,OC 125,0¢)O 10. Movement In fund8 At 31 Mar 23 Net movement in fvnds 31 lthar 24 Unre¥tricted funds Unrestricted fund8 21.654 13.014) 21,360 R•strlcted funds R@stTiCted funds 25,970 6,016 31,986 47.624 3.002 53,346
Sea Trust Wales Notes to the Accounts for the year endèj 31 March 2024 Page 14 10. Mov•rnentln funds Icontinuedl Net movamenl In fvnds, included In the above a as follow5: Incoming Resources Re80urce8 Expended Movement in funds Unr•strlctsd funds Unrestricted fund8 152.580 155.594 {3.014) Restrlcled funds Restrlcled fvnds 34.988 28,970 8.016 187,568 184.564 3.002 11. Relatsd party dtsclo8ure8 There were no re181ed paty Irsnsactions for the year ended 31sl March 2024
Sea Trust Waleg Notes lo the Accounts for the year ended 31 March 2024 Page15 31 March 2024 31 Plarch 2023 Incom• Donatlons and legaci•s Donation$ Grants Charltable actlvltles Recharging of utilitie5 Room and Oceanlab Tental other tharitable aCtivaS Other tradlng actlvltlgs Aquarium Tour SBle8 & Gift 8hgp gales Fundraising Adopt a porpoise Seashc*re safari Investmènts Bank Interest received 35,004 23.406 6,438 88.241 14.555 2,945 1.263 13,133 11,341 2,275 96.528 13,217 485 91 36,781 3,743 73 187,567 161,996 Expendlture on: ¢haritabl6 avItI0$ Labour costs Labour costs- amployer nSIOn Training 91.210 1.785 537 93.532 40,186 1,598 150 41,934 Exp8ndlture on: Othgr tradlng activllles Glft shop purchases Projects expenditure Aquarium costs 21,312 19.987 4.149 45,448 6.56S 68,094 4,366 79,025 Support costs Managemgnt Advertlsing & Marketing Rates Travel expenses Insurances Light & Heal Cleaning Repairs & Renewals Postage Stationery & Office Supplies Telephone Costs Sub$¢ripllons Sundry expenses 1,740 1.133 211 1.697 21,851 1.202 4,793 35 578 962 1.529 1.168 36.899 1,097 1,679 4,375 24,210 149 11,714 227 1,176 173 1,079 45,987 Fln•nGo Bank charge5 Card Charges Mortgage interest Inforniatlon technology Equipmert repair6 and rert8wals 91 2.505 4,313 143 1,777 8,686 184,565 850 993 Total r8sources expgnded Nel in¢on 167,939 5,943