2024-04-30-accounts - Marine Research And Conservation Foundation

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Marlne Re5ear¢h and Con5ervatlOD Found8tlgn REPORT AND FINAf4CIAL STATEMENTS for the Year Ended 30 April 2024 Charity Nurnber 1190861

Marine Re$eY4rch Conservation Foundation Reference and AdinIstrtive Information Admtnistration: Marlne Research and Cottservation Foundation The charity is a Charitable Incorporated Organisation registration number 1190861, registered with the Charity Commission on E4 Augusi 2020. The charity is registered with HM Revenue & Customs Website.. w.rnare¢o.org.uk Correspondenee Address: Etnble Fartn Lydeard 8t T Awrente Taunion Somerset TA4 3SJ Independent Examiner: James Liptroit FCA Haitles Watts Chartered A¢countant5 Cliffe Hill House 22-26 NottinghaTn Road Stapleford Nottingham NG9 8AA Banking Address: The Tea Builditlg Shtsreditch High Street LondoD E16J Registered Charity Number: 1190861 Trustees: Samuel Matthew5- Chair Williarn Giles Benjamin Whste

Marine Resexrch and Conservation Found4tlon Report of the Trustees for the Y¢•r Eded 30 April 2024 Structure. Govern*nee & Mansgemtnt overnln Document5 The Charity is governed by lis Constitution. which was estsblished on 14 August 2020. The charitable object is io promote the conservation, protection and improvemeni of the physical and natural environment in purticulor but not exclu3ivcly by conductin8 and assi$ting th¢ ¢ondu¢tin8 of T¢scarch into tnaiin¢ mcgafaujia sp¢ci¢s ld their habitats at)d by raising public awareness and understanditjg on $u¢h matters. Trnstee A ointme tand Inin There must be at le&81 ihtee ¢h)rity trustee5', there is no set maximum of charity ttust¢e5. In aceordan¢e tvith the charity's Constitutioa, every llusiee must be apptsint¢d by a resolutiim passed at a prop¢rly ¢onYened meeting of the trusttt5. When 5el¢cting individuals for appointment as ¢h#rity trustee5. the charity trustees must have regard to the skills. knowledge and experience needed for the effective athninistration of the CIO. Ttustees are encoura8ed to participate In d¢veloptnentsl opportunities a5 and when appropriate. AehleveThents and PerfoTman¢e For the financial year ending April 30. 2024. Ihe Marine Research and Conserwation Foundation (MARECO) continued to expand its work on threatened marine megafauna both in the UK and intcrnationally. Our income for this period came from a range of organizations, inelllding The Godolphin Trust, The Fishcries Society of the British Isles. The British Council, Stop Finnin8 Deutschland e.v., Newcasde University. The Shark Foundation, and Mission Erde e.V. Addilional income was provided by private donors through monthly or one-tiEne contributions. as well as partnerships with priva1¢ StOr organi7.ations. includira8 MA$lÈr Liveaboards. MARECO maiDiained its commitment to supporting $nJdertts aDd building Capacity for early-carecr marin¢ s¢JentlSts in the UK and abroad. Thi5 included work in Malayssa, Indonesia. Ihe Phslippin¢s. and the Maldives. In summer 2023, we partnered with Celtic Deep CIC to host SharkAdemy, a training r¢siden¢y for aspiring shark researchers. This fully funded program focused developing ¢s5cntial skills for care¢rs ID shaik conservation. particularly skills that are oft¢n limited by funding or accessibility. Th¢ trial program su¢cessfvlly ertgaged eight partLcipant5. leading lo an expaoded Cohort of18 candidates in summer 2024. Dunng ihis financial year, we also eontinued supporting a Newcasile Urtivetsity PhD studcnt in three main rese2r¢h obJectiv¢s-. Developing non-invasive, Iow•¢OSt methods to study blue Sharks in the wild, avoiding capture and minimizing risk to the anialS, with funding from The Weston Garfleld Foundation {received in the prior yearl. 2. Ctsnducting a global population genomics $tudy to identify 5ubpopulation struetures tn blue sharks. aiming to inforrn localized managemettt strategies, with support frotn The Shark Foundation. Trbliii¥ th¢ eff¢LtivencbS of ferrlte as deterrents for blue sharks on longlines, fimded by the Exp¢riment Foundatiott Ipr¢vious financial year). All three projects are ongoing, wiill results and recommendations expected by early 2025. This work 15 made possible through Collaboration with blue shark swini-with operators in the UK, who actively share encounter data &nd in5ight5 to help identify the drive of blue shark pre5¢nce in UK waters.

Marine Rejegrch Con$erv#tion Foundatio Report of th¢ Trustees for the Yer Ettded 30 April 2024 {continued} Achievements and Performance (eontlnued) Internationally. MARECO has provided tools, guidance, and support for swdy design. data analysis, and fundin8 appltcatiot%$ to partners and collaborators. In Malaysia, we continue working with Univetsiti Malaysia Sabah to undcrstand the distribution attd thT¢a¢s to endangered whale sharks and moblllid rays. In lrtdoD¢5ia. we collaborate with Mataram University to study iurtl¢s and whale sharks, including research into the impa¢15 of touristn on whale sharks using advanced technology. Jn the Philippines. our work with San Carlos University explore5 the relationship b¢tween whale sharks and reef fjsh ¢ommuniti¢s. In MyanmaT. in pamlership with the Myanmar Ocean PTOj¢CT and with support froln The Briiish Council, we swdied the Moken people's relationship with the marine ertvironmeTLt, identifyiTLg opportunities for shark and ray coJservation through local stewardship. These projects are ongoiTrg and will conlinuc through 2024 and 2025. In February 2024, MARECO'S Concerted A¢tion ICA) plan foT blue sharks was adoplcd by the Convention on the Conservation of Migratory Species of Wild ADitna15 IUNEPICMSI at COP14 in Uzbekistan. The plat) includes recommendations to improve martagement of thi5 threatened 5p¢ci¢s, such &$ using population geno]nJ¢5 to identify subpopulation structures. developiThg a unificd code of conduct for swim-with operations, and studying p05t.relea5e survivability after Iish¢rie$ Trnternction5. MARELO will pursue thes¢ actions over Ihe ¢oming years. Throughout 2023 and 2024. MARECO continued supporting the IUCN Species Sutyival Commission Shark Specialist Group in its global r¢vi¢w of rhondrichthyan fjshes. We coniribuied to sections on tourism. eagle Tays, filter feeders, and species in Asia. Additionally. we are assisting in d¢v¢loping the IUCN GreeTL Statu5 for blue sharks and preparing for the reassessment of whale 5hark5 in 2024-2025. This financial year. MARECO led a Elobal Sttldy 25ses5ing the Tisk of larKe ve55el collision5 Wlth endangered whal¢ sharks at known aggregation sites, based on expert elicitation. Thi5 re5¢arch, published in early 2024 in ScienGe ofihe Tolul Environmepjt. was also reported to CMS. We are now expanding this work to examine how habitat shifts driv¢tt by climal¢ Change might affect these risks, as such thanges Could have seveie consequences for the world's largest fish. How the Public H8s BeDeflted MARECO'S work b¢t)efits the public by advancin8 the conservation and management of marin¢ megafauna such as sharks and rays. Duri08 the fityan¢J#l year ending ApTiI 30, 2024. MARECO provided exlengive scietttifi¢ and t¢rhnical support to improve the managem¢ttt of these sp¢cie5 itl both the UK and internationally. Our own research fiher support5 the conservation of threatened species, helping ensure healthier marine ecosystems for fvwi¢ gencrations. Additionally. we ar¢ Commiiied to nurtUTing the next generation of marine scientisL8 through stydent support and capacity-buildin8 initiatives, both in the UK and abroad. Fin&nti81 Revi¢w FOI tlir fJILi)n¥ial yrur rtLJin¥ 30 April 2024, we reccivcd 5¢vrn graTJts £62,409 12023.. £42.794) and scvcn private donaTltsns £19.66412023.. £4,4641. Poiiey on Reserves The charity's policy on resetves is io genera and Tnaintain a balance which is suffieient= al To preserve the finaTr¢ial viability of the charity in the event that unforeseen andlor unavoidable ¢ircuTnstance5 precipitate a short-terni fall in its income: b) To etLabl¢ the cbarity. in the interests of n)e¢ting its objeciives. to undertake from time to titne the settÈng llp of o¢w and innovative projects on a pilot basis to d¢monsltat¢ Ihe viability and potentiel benefits of such aetivities as a precursor to securing the external funding n¢¢essary to mointaiD such prO1ts oll an on-goillg basis.

Marlne Rese*rch and Conservation Follndatio Report of the Trustees for the Year Ended 311 April 2024- ¢ontlnued Statutory Ststement$ on Llabillties The tnjstees declare that.. The charity has given no guarant¢¢s where potential liability under the guarantee is outstanding at ihe date of this Statement. The chariry has no debt outstanding at thc date of this Statement which is owed by the CIO and which is secured by att express thaTge on any asscts of the CIO. De¢laratio We, the Trustees, thlare we have approv¢d the Trustees. Report above, ond are authori%d to Slgn It on their behalf. Full NaTne'. Mr Samuel Matthews Position.. Chair 2410112025 Daly

Independent ExgmiDer's Report to the Trustees of Marlne Research gnd Conserv8tlon Foundatiort I report lo the Twstees on my examination of the accounts of Marine Research and Cons¢rwallon Foundation for the yeaT ended 30 April 2024. Responsibilitles and b*s1s of report As the chatity tntstee5 of the Trust you are rcsponsiblc for the pr¢paration of lh¢ accounts in accordance with the requirements of the ChaTities Act 2011 ('the Aci.). I rew)rt in respect of my exarniThatiot) of ihe TNsi's a¢counts carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all appli¢abl¢ Directions 8iven by the Charity Commission under Secrion 145{51(bl of the Aet. Independent Eximlner's Staiemtttt I havc cornpletd my examination. I c(pnfirm that rto mat¢ria] matt¢TS havc to my attention in connection witli th¢ examination ving me eause to beli¢v¢ that in any material respect'.- Accountin8 records were not kept in re5PWt of the Trust as required by Section 130 of the Act. or 2. The accounts do not accord with those iecoTd5. I have no concems and have come across no othcr rnatters in connection with the examination to wljich attention thould be drawn in this report itt order to ertable a proper understanding or the accounts to be reached. an 21, 2025 08..12 GMTI James Liptrott FCA Chartered Accountattt Jan 21, 2025 Datcd ................................................... Haines Watts Chartered A¢countants Cliffe Hill House 22-26 Ntsitingham Road Stapleford Nottinghaln NG9 8AA

Marine Rearth Conservation Foundgtion Re¢elpt$ #nd Paymenrs Account for the Year Ended 30 Aprll 21124 2024 Unre$tricted FunLis 2023 Total Funds Rtstri¢ted Funds ALANCE BROUGHT FORWARD Wise bank account 3.534 3.534 35,238 10,948 RECEiYr Donations Grant5 Sundry receipts 13,758 10.0 5.906 52.469 4,464 42,794 69 23.827 58.375 PAYMENTS Consumables Travel & accommodation Meetings, events & workshops Expenses reimbursed Grants Services Bank charges Accountancy 925 1.560 28,399 3,082 584 1,986 1,643 359 271 14,550 570 60 225 11.638 185 19.648 1,580 165 TOTAL RECEIPTS (LESS PAYMENTS} 7,083 4.917 27,824 ALANCE CARRIED FORWARD 10617 £ 40155 £ REPRESENTED BY: Wise bank account PayPal account 10,002 615 10617 £ 40.155 38,772 40.155 £ 38.172

Marine Research and ConserYAtion Foundation StaterneDt of A5set$ and Liabiliti As at 311 Aprll 1024 2024 STRICTED 2023 RESTRICTED UNRESTRICTED RESTRI TE TANGIBLE FIXED ASSETS Plant and equipment 730 CURRENT ASSETS Cash Fund5 Bank current aecount PayPal account 10,002 615 40.155 3,534 35238 LIABILITIES GENERAL F 2024 2023 2,205 Independent Examinitton IAccDuntant'5 Rcportl 2,1(Kl 2410112025 Approved by the TnLStee$ on .. Signed

M2rlne Researeh and Conservation Foundtio Notes to the Aeeount$ for the Year Ended 30 April 2024 Atcounting Policie5 The accounts (fjnancial statements) have been prepared in a¢¢ordart¢e with Accounting and Reporting by ChaTiiies'. Ststement of Recommended Practice applicabl¢ to ¢haTltirs PT¢paring their account5 in accordance with the Financial Reporting Standard applicable in the UK ond Republic of Ii¢land IFRS1021 effective I" January 2019, the Financial Reporting Standard applicable ID the UK ottd Republic of Ir¢land {FRS1021. and th¢ Charities Aet 201 L. ome Thi5 15 accounted for on & receivable purpos¢ in th¢ period which li is received. ments These sre acCoted for as paid. Th¢ ¢hanty m¢¢ts th¢ dcfinition of a public bencfit entity under FRSIO2. The Trustees con5i(kr there are no material unccrtainties about the charity's ability ro continue a5 a going concern. The accounts are presented in sterling 1£). Trustee Expenses A total of £NIL w2s reimbursed to Tntees in thi$ year12023., £1,954). Exp¢n5¢s were paid to volullteer5 for trdvel costs ineurred in canying out the Charity's aciivities. Trustees Remuneration No reMneratiOn or emoluments were received by the Trllstees ¢ither iij their cap3cities 35 Trustffs or a5 membcrs of the Board of Tn]stees and no emoluments paid in excess of £60.0. Txxtion The charity is regJster¢d 2$ a ¢harity aDd as such tLO taxation 15 payable on the excess of incorne over ¢xpenditur¢. Related Party Transaetlolls There are no rclared party transactions to note. Creditors Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of fvnds to a third party. and the atnount due to settle the obligation can be measured or estirnèted relsably. Credi¢ors and provisions are TLorm8lly Tecogni5ed at their settlemcnt amollni.

Marlne Re5ear¢h and Con5ervatlOD Found8tlgn REPORT AND FINAf4CIAL STATEMENTS for the Year Ended 30 April 2024 Charity Nurnber 1190861

Marine Research and Conservation Foundation Emble Farm Lydeard St Lawrence Somerset TA4 3SJ

15th January 2025

Haines Watts Nottingham Limited Chartered Accountants Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA

Dear Sirs

This representation letter is provided in connection with your Independent Examination of the financial statements of Marine Research and Conservation Foundation for the year ending 30 April 2024 for the purpose of expressing an opinion as to whether the financial statements give a true and fair view of the results and financial position and filing the financial statements of Marine Research and Conservation Foundation with Charities Commission in accordance with the Charities Act and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Financial statements

We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement dated 6 November 2023 for preparing financial statements in accordance with The Charities Act and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) which you have drafted on our behalf, which give a true and fair view of the financial position of Marine Research and Conservation Foundation as of 30 April 2024 and of the results of its operations for the year then ended and for making accurate representations to you.
Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements.
We have disclosed all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements and these have been disclosed in accordance with the requirements of accounting standards.
Related party relationships and transactions have been appropriately accounted for and disclosed in accordance with the requirements of accounting standards.
All events since April 2024 which require disclosure or which would materially affect the amounts in the financial statements have been adjusted or disclosed in the financial statements.
We confirm that the financial statements are free of material misstatements, including omissions. We believe that those uncorrected misstatements identified during the audit of the financial statements are immaterial both individually and in aggregate to the financial statements as a whole. A list of these items is attached to this letter of representation, together with our reasons for not correcting them.
We confirm that, having considered our expectations and intentions for the next twelve months, and the availability of working capital, the charity is a going concern. We confirm that the disclosures in the accounting policies are an accurate reflection of the reasons for our consideration that the financial statements should be drawn up on a going concern basis.
Fund allocation has been appropriate accounted for and disclosed in accordance with the accounts to the best of our knowledge. This includes but not limited to: Restricted, designated and unrestricted funds.

Information provided

All accounting records and relevant information have been made available to you for the purpose of your audit of the financial statements. We have provided to you all other information requested and given unrestricted access to persons within the entity from whom you have deemed it necessary to obtain audit evidence. All other records and related information including minutes of all management and shareholders meetings have been made available to you.
All transactions undertaken by the charity have been properly reflected in the accounting records and are reflected in the financial statements.
We acknowledge our responsibility for the design, implementation and maintenance of controls to prevent and detect fraud. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves management, employees who have significant roles in internal control, or others where fraud could have a material effect on the financial statements.
We have disclosed to you all information in relation to allegations of fraud, or suspected fraud affecting the entity’s financial statements communicated by employees, former employees, analysts, regulators or others.
We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which could affect the financial statements. The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.
We confirm that we have disclosed to you the identity of the entity’s related parties and all related party relationships and transactions relevant to the charity that we are aware of.
The charity has satisfactory title to all assets, and there are no liens or encumbrances on the assets except for those disclosed in the financial statements.
There are no liabilities, contingent liabilities or guarantees to third parties other than those disclosed in the financial statements.
The charity has at no time during the year entered into any arrangement, transaction or agreement to provide credit facilities (including loans, quasi loans or credit transactions) for trustees, nor to guarantee or provide security for such matters, except as disclosed in the financial statements.
Within the period, the charity has not been in receipt of any donated assets.

We confirm to the best of our knowledge and belief that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the above representations to you.

Yours faithfully

Signed on behalf of the board of trustees by:

.................................................................... (Trustee)

Date ............................................................

15/01/2025