## **Marine Research and Conservation Foundation** 

**Registered Charity, No: 1190861** 

**Trustees’ Annual Report & Statement of Financial Activity for the Year Ended 30 April 2022** 

## **Trustees** 

Gonzalo Araujo 

William Giles 

Benjamin White 

_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 1 of 9_ 




## **Trustees’ Annual Report & Statement of Financial Activity for the Year Ended 30 A ril 2022 p** 

## **Contents** 

||**Contents**|**Contents**|
|---|---|---|
|**1**|**Reference and Administration Details ........................................................ 3**||
||1.1|Charity Name & Registration........................................................................... 3|
||1.2|Charity’s Address.............................................................................................. 3|
||1.3|Names of the Trustees Who Manage the Charity.............................................. 3|
||1.4|Names of Advisors & Senior Members of Staff............................................... 3|
||1.5|Bank.................................................................................................................. 3|
|**2**|**Structure, Governance & Management ...................................................... 3**||
||2.1|Type of Governing Document.......................................................................... 3|
||2.2|Charitable Objects............................................................................................. 3|
||2.3|Trustee Selection Methods................................................................................ 3|
|**3**|**Activities ...................................................................................................... 4**||
||3.1|Statutory Declaration........................................................................................ 4|
|**4**|**Achievements & Performance ..................................................................... 4**||
||4.1|Outputs and Outcomes for the Charity’s Beneficiaries..................................... 4|
||4.2|How the Public Have Benefitted....................................................................... 5|
||4.3|Contributing to Activities Run by Other Organisations.................................... 5|
||4.4|Trustee Development........................................................................................ 5|
|**5**|**Financial Review ......................................................................................... 5**||
||5.1|Details of Any Funds Materially in Deficit....................................................... 5|
||5.2|Policy on Reserves............................................................................................ 5|
||5.3|Principal Sources of Funding and Outgoings.................................................... 5|
||5.4|Remuneration of Trustees................................................................................. 5|
||5.5|Financial Status................................................................................................. 5|
||5.6|Statutory Statements on Liabilities................................................................... 5|
|**6**|**Statement of Financial Activity ................................................................... 7**||
||6.1|Receipts & Payments Accounts for the Financial Year Ended 30-Apr-21....... 7|
||6.2|Notes to the Accounts....................................................................................... 9|



_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 2 of 9_ 



# **Trustees Annual Report & Statement of Financial Activity for the Year Ended 30 April 2022** 

## **1 Reference and Administration Details** 

## **1.1 Charity Name & Registration** 

## **Marine Research and Conservation Foundation** 

The charity is a Charitable Incorporated Organisation,  registration no: 1190861,  registered with the Charity Commission on 14 August 2020. 

The charity is registered with HM Revenue & Customs 

## **1.2 Charity’s Address** 

Emble Farm, Lydeard St Lawrence, Somerset, TA4 3SJ e-mail:   info@mareco.org.uk website:   www.mareco.org.uk 

## **1.3 Names of the Trustees Who Manage the Charity** 

_**Role**_ Gonzalo Araujo Chair William Giles Benjamin White 

## **1.4 Names of Advisors & Senior Members of Staff** 

None 

## **1.5 Bank** 

Cashplus Bank - NatWest Bank PLC, 250 Bishopsgate, London, EC2M 4AA 

## **2 Structure, Governance & Management** 

## **2.1 Type of Governing Document** 

Constitution – based on the Charity Commission’s model governing document for Foundation Charitable Incorporated Organisations, _i.e.:_ Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees. 

## **2.2 Charitable Objects** 

As defined in Marine Research and Conservation Foundation’s Constitution (Governing Document): 

## _The charity’s object (“object”) is:_ 

To promote the conservation, protection, and improvement of the physical and natural environment in particular but not exclusively by conducting and assisting in the conducting of research into marine megafauna species and their habitats and by raising public awareness and understanding on such matters. 

## **2.3 Trustee Selection Methods** 

There must be at least three charity trustees. There is no set maximum of charity trustees. 

_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 3 of 9_ 



In accordance with the charity’s Constitution, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. 

When selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. 

## **3 Activities** 

## **3.1 Statutory Declaration** 

The Trustees of Marine Research and Conservation Foundation confirm that they have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake. 

## **4 Achievements & Performance** 

## **4.1 Outputs and Outcomes for the Charity’s Beneficiaries** 

During the financial year reported here (to April 30, 2022), Marine Research and Conservation Foundation (MARECO) has engaged and supported multiple projects. Our income for this financial period came from two grants and private donors. 

As part of our commitment to build capacity and provide opportunities for UK students, and in collaboration with the University of Portsmouth and Oxford University, we conducted the first socioeconomic and socio-cultural studies on blue shark swim-with and angling tourism in the UK respectively. Furthermore, in collaboration with Newcastle University and Pembrokeshire-based operator Celtic Deep Expeditions, we initiated a project using environmental DNA (eDNA) and skin swabs to understand the genetics of blue sharks in the northeast Atlantic. 

In April 2022 we hosted the first blue shark workshop with swim-with operators from England and Wales. Some key outputs of this workshop was the development of a Code of Conduct for blue shark interactions in the UK. This work will continue through 2022 and 2023. 

Through a collaborative effort to understand the impacts of tourism on whale sharks in the Maldives, we partnered with Maldives Whale Shark Research Programme (MWSRP). We are using drones as non-invasive tools to provide insights into this delicate relationships which are in great need of attention given the increased disturbance in a critical habitat for the species. 

We spearheaded a global collaboration for the automatic identification of spotted eagle rays under the Wild Me platform ‘MantaMatcher’. This collaborative effort has now expanded to define the phylogeography of this threatened species complex with global partners. This work is essential to develop effective management and conservation strategies for spotted eagle rays. 

The first stage of a multi-year project with partners in Thailand was completed, looking at the importance of citizen science for monitoring the Endangered whale shark in the Gulf of Thailand. Further work will look at the species distribution along the west coast of Thailand, and the use of other tools to understand their movements and threats. 

We partnered with partners in Malaysia, including government and academic institutions, to enhance research for the conservation and management of sharks and rays. Activities will include workshops, field and laboratory work, and support for local students. The first workshop was scheduled for early March 2022, but it was postponed to 2023 due to ongoing COVID-19 restrictions. 

During late 2021 we became an official Cooperating Partner of the Sharks Memorandum of Understanding of the Convention on the Conservation of Migratory Species of Wild Animals (CMS/UNEP). This global forum is an important tool for the conservation of sharks and rays. We will support the Secretariat with proposals, revisions and technical insight. We are also supporting the IUCN Shark Specialist Group that works to provide technical and scientific expertise to enable conservation action for sharks, rays and chimeras. 

We issued our first grant to a project that will support the conservation of critically endangered sawfishes through community engagement and education. 

_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 4 of 9_ 



## **4.2 How the Public Have Benefitted.** 

The work by MARECO benefits the public by enhancing conservation and management of marine megafauna. For the period reported here, MARECO has contributed extensive scientific and technical support for the effective management of our focal species of interest – mainly sharks and rays. MARECO is also conducting its own research that will also support threatened species. 

## **4.3 Contributing to Activities Run by Other Organisations** 

For the financial year reported herein, we issued one grant. We did not contribute monetary funds to any other organisation. We did support other organisations and institutions as detailed in section 4.1 above. 

## **4.4 Trustee Development** 

Trustees are encouraged to participate in development opportunities as and when appropriate. 

## **5 Financial Review** 

## **5.1 Details of Any Funds Materially in Deficit** 

The Charity has no funds which are materially in deficit. 

## **5.2 Policy on Reserves** 

The Charity’s policy on reserves is to generate and maintain a balance which is sufficient: 

- a) to preserve the financial viability of the Charity in the event that unforeseen and/or unavoidable circumstance precipitate a short-term fall in its income; 

- b) to enable the Charity, in the interests of meeting its objectives, to undertake from time to time the setting up of new and innovative projects on a pilot basis to demonstrate the viability and potential benefits of such activities as a precursor to securing the external funding necessary to maintain such projects on an on-going basis. 

## **5.3 Principal Sources of Funding and Outgoings** 

For the financial year ending 30 April 2022, we received two grants (£21,048) and four private donations (£2,300). 

## **5.4 Remuneration of Trustees** 

All Trustees act in a voluntary capacity and received no remuneration from their services to the Charity. 

Out-of-pocket expenses necessarily and reasonably incurred by Trustees in promoting the purposes of the Charity are reimbursed at cost, and governed by the charity’s Reimbursement Policy. 

## **5.5 Financial Status** 

Though modest, Marine Research and Conservation Foundation’s current resources from unrestricted donations are more than sufficient to meet its outgoings for at least next year (financial year-end April 2023). 

All the indications are that this will remain the case for the foreseeable future. 

## **5.6 Statutory Statements on Liabilities** 

The Trustees declare that: 

- The charity has given no guarantees where potential liability under the guarantee is outstanding at the date of this statement ( _e.g.:_ any outstanding/ongoing contract or legal undertaking to buy or provide specific services); 

_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 5 of 9_ 



- The charity has no debt outstanding at the date of this statement which is owed by the CIO and which is secured by an express charge on any assets of the CIO ( _e.g.:_ a mortgage on property owned by the charity); 

Approved by the Trustees and signed on their behalf, 


Name: Gonzalo Araujo, Chair Date:  1[st] November 2022 

_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 6 of 9_ 



## **6 Statement of Financial Activity** 

## **6.1 Receipts & Payments Accounts for the Financial Year Ended 30-Apr-22** 

- 6.1.1 **Receipts & Payments** 

|**Receipts & Payments**||
|---|---|
|**RECEIPTS**|**Current Year FYE 30-Apr-21**|
|VOLUNTARY INCOME||
|Donations|£2,300|
|Grants|£21,048|
|Gift Aid|£0|
|INCOME GENERATION||
|Merchandise|£0|
|Expeditions|£0|
|Miscellaneous|£0|
|INVESTMENT INCOME||
|Interest Bank Account|£0|
|CHARITABLE INCOME||
|Income from Services|£0|
|Expenses Reimbursed|£0|
|Miscellaneous|£0|
|**TOTAL RECEIPTS**|**£23,348**|
|**PAYMENTS**|**Current Year FYE 30-Apr-22**|
|CHARITABLE ACTIVITIES||
|Consumables|£10,747|
|Travel & accommodation|£1,358|
|Meetings, events & workshops|£440|
|Expenses reimbursed|£225|
|Miscellaneous|£0|
|Grants|£1,033|
|GOVERNANCE||
|Trustees meetings|£0|
|Trustees development|£0|
|Audit/examination|£0|



_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 7 of 9_ 



|ADMINISTRATION||
|---|---|
|Consumables|£0|
|Services|£1,259|
|Publicity & promotion|£0|
|Fundraising|£0|
|Networking|£0|
|Bank charges|£16|
|**TOTAL PAYMENTS**|**£15,078**|
|**Net Receipts less Payments**|**£8,270**|



## 6.1.2 **Summary of Receipts & Payments Accounts** 

## **Current year FYE 30-Apr-22** 

|Total Receipts|£23,348|
|---|---|
|Total Payments|£8,270|
|**Net Receipts less Payments**|**£8,270**|
|**Brought forward from Last Year**|**£2,678**|
|**Loans**|**£0**|
|**Carried Forward to Next Year**|**£10,948**|



## 6.1.3 **Statement of Assets and Liabilities** 

## **MONETARY ASSETS** 

|Cash|£0|
|---|---|
|Bank Account|£10,948|
|Other Investments|£0|
|**NON-MONETARY ASSETS**||
|Fixed Assets|£0|
|**MONIES DUE TO THE CHARITY**||
|Sundry Debtors|£0|
|Gift Aid Recoverable|£0|
|**LIABILITIES**||
|Sundry Creditors|£0|



_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 8 of 9_ 



## 6.1.4 **Disposition of Funds** 

For Next Year (Year End April 30 2023), £9,047 are restricted funds and £1,901 unrestricted. 

## 6.1.5 **Approval of the Board of Trustees** 

The Trustees declare that they have approved the above Annual Report & Statement of Financial Activity. 

Signed on behalf of the Trustees 


Name: Gonzalo Araujo, Chair 

Date:  1[st] November 2022 

## **6.2 Notes to the Accounts** 

- a) Accounting Policies 

The financial statements have been prepared in accordance with the Charities Act 2011 Section 133, using the Receipts and Payments basis available to small charities and the charity’s own Simple Accounts Spreadsheet. 

- b) Reimbursement of Out-of-Pocket Expenses Out-of-pocket expenses incurred necessarily, reasonably and incidentally in the course the charity’s activities are reimbursed at cost. 

No Trustees received any reimbursement of out-of-pocket expenses in the financial year. 

- c) Salaries & Professional Fees No trustee receives any payments for the services they provide to the charity. In the current financial year the charity employed no staff or external contractors; 

- d) Fixed Assets 

The charity has not purchased or disposed of any fixed assets in the current financial year; 

- e) Creditors & Debtors Cheques for goods or services purchased, or invoices for goods or services delivered, which are issued prior to the end of the financial year but not appearing in the end of financial year bank statement are reported as outstanding creditors or debtors respectively. 

- f) Rounding Discrepancies 

All amounts are recorded to the penny, but in these accounts are shown as digitally rounded to the nearest pound.   This can occasionally result in a total apparently not being the sum of its constituent amounts.   All individual amounts, and their totals, are nevertheless correct. 

_Marine Research and Conservation Foundation: Trustees’ Annual Report & Financial Statements_ 

_Page 9 of 9_