Marlne Research Conservatlon Foyndatlo REPORT Af4D FINANCIAL STATEMENTS for tbe Yur Ended 30 Aprll 2025 Charity Number 1190861 Marine Re8earf h *nd Con$erv*tlon Ffruttdatiou Referen¢e aThd Adminl$tratlve Inform%tlott Administration: Marlne Rese4Yth and C•#$erv#tion Foundation The charity is a Charitable Inco￿orated Org8ni%ation registration number 1190861. re8jStered with th¢ Charity Commission on 14 Aug(tst 2020. Th¢ charity is wister￿ with HM Revenue & Customs W¢b$lt¢: Corre5ponden£e Addre55: Emble Farni LydeaTd St Lawrence Taunton Somers¢t TA4 3SJ lrtdependent Examiner: Mati Brady FCCA TC Group Cliffe Hill House 22-26 Nottingham Road Siapleford Nottingh2m NG9 8AA B#nkfng Addres$: The Tea Building Shoreditch High Street London El 6JJ Registered Cbarlty Number: 1190861 Trustee$: Samuel Matthews- Ch&ir William Giles Benjamin White Marine Research %Jd conservat50￿ FouDdatlo* Report of the Trustees lor the Ye*r Ettded 311 April 2025 Strllctur4 CovernAnct & Man4gemenl overnln DocuThents The CharÈty is govemed by its ConsiilUtiOI]. which was established on 14 August 2020. The charitable object is io promote the conservati(Trn. proi¢¢tion 2nd improvement of the physical altd natural ¢nvsronm¢nt i particular but not exclusively by condu¢iing and assisting in ibe ￿)ndUcting of research into maTine megaf&una sp¢cies an their habitats and by raising public awareness and u0derst￿dI￿g 5urh rnatt¢r5. Trus Intmenl and Tralnirt The￿ Enust b¢ at l¢ast three charity trustees; there ts no set maximum of ¢haTily trustees. In accordance with th¢ charity's Constttution. every tTU5tee must be appointed by a resolution passed at a properly convened rneetiri8 of rh¢ tsusiees. Wheti selecting individuals foT appointrnent &s charity trnstees, the charity tntstees must have regard to the skills. knowledge and experience ￿¢￿t￿ for the effective administration of the CIO. Trustees are encourgged to parti¢lPo¢e in developmental opportunÉtie5 as and when appmpriate. Achievements •nd Performanet For ihe financial year ending April 30, 21125, Marine Research and Conservation Foundation {MARECOI advttt¢ed its mission to safeguard threatened marine megafaun8 in ttle UK an(J inteEnaiiollally. Our income for this p¢ri(MJ ¢ame from a In of phtlanthropic 8rarLts, resear¢h pannerships. and private donations. supplemented by in-kind support from collaborators. Across our portfolio we prioritised tLOL?-LnYa5ive science. capacity buildin8, prd¢ti¢21 guidance for manager5 and stakeholders. Advinclng nort-Inv#slve too15 for blye sharks (CorDwAII UK>. With Mission ERDE e.V. and Blue Shark Snorkel Penunce, we delivered the MissioA Bltte field ¢ampaiBn from Penzance, pilotin8 the first in-water deployments of cam¢rd and multisensory tags on free-swimming bltse sharks In UK waters. Working with Flinders University, we also trialled In silu DNA sequencing, demonstrating a proof-of-¢tsn¢ept pathway for rapid 8enetlC Screening at sea to complement khaviouTal aijd cnvironmental studi¢8 on pelagic species. ShsrkAdemy 2024. In partnerskn'p with Celtic Deep CIC, we ran the se¢ond year of ShaikAdemy, aN immersive training PTogratE] for aspiring shark enthusiasts looking to build a career working with shark5. Building on the 2023 pilot, the 2024 cohort gained hands-on experience with non-In¥asive methods {vÈsual ID, tagging workflow5, BRUVS, artd datx h8ndlJng). science communi¢&ti¢)n, Lnd sea saf¢iy-dire¢tly addressing barriers to entry for early-¢areer sci¢ntisls. IUCN Green Sl*t115 for the Blue SharAL MARECO contributd tech￿"¢al input to the IUCN Green Status assessment for Prion&Le glouco (blue shark), focusing on feasible recovery mettirs, guidance on population structure, and the role of ¢wn- extractive tourism in conserwaiion outcomes. Thi.$ work complement5 our on8OIII8 SUPPOrt to international policy pro¢c55es and posttions the species for betier-targeled recovery planning. We strive to support the work of the IUCN Shark Speci&li5t Group Lo improve the fitture outlook of ¢hondri¢hthyan fishes. Su$t#lthablt blue $hfirk tourism in the UK. We convened ollr annukl workshop in May 2024 with UK swim-with operdlors, researchets. and local Stakeholders. The se￿10n rcvt¢wed best practir¢ for wildlife interactions, refreshed welfaTe-fiESt protocols. and discussed coordin2ted data collection to ￿nfOrni man8gem¢nt. Our facilitohon ¢onttnue5 to underpin a ¢onsisien4 precautiotwy code of ¢onduct for blue shark encounters. M4rlDe Research Conservation Foundatlon Report oftbe Trustees for the Y¢*r Ended 30 Aprll 2025 (torttlttued) Ach2evem¢uts and Performance Icontlnued) CommunSty engagernent and public outreach. Ai lh¢ Isle of Man Fe5tsval of the Sea, our team spent two days engaging audicnces of all 2ges on UK shark ecology, safe and ethical wildlife tourism. and the science behind non-iovasiwe ¥esearch. We also launched so¢ial sci¢n¢e research with local anglers to document seasonal patterns and spe¢ies diversity of 5hark5 around the Isle of Man, building tntst and co-cieating knowledge that will gllid¢ rarge*d b10-￿010g1C&] studies. Capaclty building and itttern#tional collaborktio*& Phalippines (Cebu): We supported Bsc studcnts at San Carlos University with baited remote und¢n¥ater video systems {BRUVS) to track changes in reef fish communities associated with matille toun8m. lrtdone8ia (Lombok}: With Malaran) UtJivers%ty, we supponed non-invasive studies on turtles and sharks, strcn8thcnin8 local research design and field protocols. Thall&nd.. We continued our collaboration wsth Thai Wh&le Sharks, 8dvan¢ing undersianding of whale shark occurrence and site use aDd ref￿ill8 Cltizen-science contributions, as well as pla[￿l￿g next steps involving satellire telemetry of whal¢ 5harks- a f￿$1 the Gulf of Thailand. Mal8ysla {S8bAh): In parthership wilh Universiti Malaysia Sabam we progressed surv¢ys on whal¢ sharks and mobulids, Combining lo¢#1 expertise with shared aDalyticai frameworks, as well as exteThdiThg our citizen science use through Malaysia Whale Sh)Iks. M#ldlYe$ IFuv•hmMl#h): We continud liger and thresher shark monitonng using non-IIivasive approaches witb local partners, contributin8 data to long-terni baselines at thi.% globally 5LgnifIca￿t Site. Western Atl#ntif ¢xgle rays.. We supported aD MRes student from Swansta Univ¢rsity working with Mote Marine Laboratory and Eagle Ray Mexican Caribbean, advaneing photo-ID artd data automation to cnhance researclk with sponed eagle ray species. Ru¢gr¢h. #n*lysis and publicat10115. MARECO suppotled and led ie5ear¢h at regional and global scale5 on tlueaiened arine me8afauna, including blue sharks, whal¢ $hark5. eagle Tays. and other charismatic species. Several outpllts from thi$ year's collaborations were published in peer-reviewed. top-ticr journals. while others arc in rtvsew or advanced prepaTats0n. We also continued irnplementing the a¢tions siemming from the ifNEPICMS Concerted Action for Blue Sharks, tyattslating science into pra¢t1¢21 iecommend2tiolls for managetnent #nd tourism 5tand&rds. including global blue shark genomics. Looking #head. The t￿]5. partnerships, and datasets established thi$ year position MARECO to deliver Stronger evidence on ptspulation structure. movement ecology, and risk exp)sure for focal spwies. We will deepen UK operaioT ¢ngagemenl, expalld non-invasive t&gging and Molecul￿ workflows. and Colliinue mentorin8 eaTly-career resea￿herS thTougb field placements and iargeied Iraining. How the Publle Has Benefited MARECO'5 work benefits the public by ImprovlDg the ¢on$ervAtlon And mAn#gemtnt of sharks. rays, and other marine megafauna species that are essential 10 healthy oceatj ec05yStetns alld the services they provide to society. During the fiDao¢ial year ending April 30. 2025.. Our non-lnvasive field inDovatl¢Jns {¢.g.. ¢amera-s¢nsoT lags gTtd in siiu DNA methods) reduee handltng risk$ to ansmals whil¢ improving the quality and tsmeline5b of ecological data th21 inforn UK and intemaiional management. The 4nnuAI blue Shark workshop and continued operator engagement help keep wildlife iouri51n Safe, ethical. and Suslainable. supporting local coastal economies whil¢ saf¢guarding animal welfare and visitor experience. Publlc olltreach at the Isle of Man Festiva] of the Sea and co-produced sociBI science with anglers busld o¢eat) literacy, strengthen community stewardship, and generate locally relevant knowledge for managers. Student tralnlng artd support in the UK and abroad ISharkAdemy, BRbWS deployments, posiÈraduate supervision) grow the i)ext generation of marine scientists and conser¥ation leaders, widenitlg access to Careers in ocean sciellce. Our peer-revi¢Med publl¢atlon$ and poli¢y ¢ontrsbulions ensure that robust, openly ¢ommuni¢ated science infoTms reglllaiions, prtsi¢cted-aT¢a planning, and inlernatioThal agreementS-d¢liv¢ring long-terni benefits for biodiversity. eoastal liv¢lihood5. and public enjoyment of the marine environm¢ttt. Together, these activittes advall¢¢ ¢viden¢¢-bas¢d cons¢rvatioD wbile creating direct educational. economi¢, and cultural benefits for th¢ pubhc in the UK and woildwide. MArfne Re*e*rth •nd CoR5ervatloTr Found2ti0 Report of the Trustees for the Year Ended 30 Aprll 2025- eoDtlnue FinaDclal Revlew For the finaTrcial y¢ar ¢rEdin8 30 April 2025, we received seven grants £46,575 (2024.. £62.469) and four private donation$ £9,842 {2024.. £19.664). Th¢re was also £1.457 from several Paypal donations throughout th¢ year. Poll¢y on Reserves The charity's policy on reserves is to generate and m&intaiTJ a ba1￿ce which is sufficient.. al To preserve financial viability of the charity in th¢ event that wiforeseen andlor unavoidable ¢ircumstances precipitate a short-tern fall in its income. bl To cnable the char5ty, in th¢ itjterests of meeiing its objective5. to undertake from time to time th¢ s¢tting up of new and ittnovative projecis on a pilot basis to demonstrate the viabiliry and w)ieDtial bertefits of such activities as pre¢ursor io s¢¢uring the external funding necessary to maintain such prOj￿ts on an on-going basis. Sta￿tOry S¢atemeDts on LiAbiliti The tnjst¢￿ declare tknt.. The charity ha5 given tao 8uarante¢s wh¢r¢ pot¢ntial liobility under the guarantee is outstanding at the dat¢ of thss statement. The charity has no debt outstandkng at the date of this ststement which is owed by the CIO and which is secured by an express ¢haTg¢ on any assets of the CIO. Decl4ratlo We. the Trustee5, declar¢ we have approved the Tn￿¢¢$, Report above, and are authoTLsed to 5igTh it their behalf. Full Name.. Mr Samuel Matthews Position.. Chair 1810112026 Date.................................... Signa￿￿.. Independent Examiner's Report to th¢ Trn$t¢es of M8rln¢ Rese*rcb and CoDservatI•￿ Foufjdatiott I report to the Trusttts on iny examinaiion of the a¢¢ounis of Marine Research and CotJserv&tÈon Foundation for the y¢ar ended 30 April 2025. Responslbllitie5 and basls of report As the charity tsijstees of the Tnst you are resrA)nsible for th¢ preparaiioti of the accounts in accordance with the requirem¢nts of the Chan"ties Aci 2011 I'the Act,). I re￿1 in respect of my examtnation of th¢ Twsi's accounts carried out under Section 145 of the 2011 Aet alld itj ¢arryill8 Out my exAmin&tion I have followed all applicable Direction5 given by the Cl)arity Commission under Section 145(5llb) of the Act. Independent EJ•mimer'$ Ststernent I have COTnpleted my examination. l ¢ODfimi that no material rnatters have come to my attention In ¢othn¢¢t%on with the exarniDation giving me ¢ause to believe that in any tnaterial rcspect'.- A¢¢ount¢ng records were not kept in respect of the Trust as r¢quired by Seciion 130 of the ACL. or 2. The aecout)ts do not a¢¢ord with those records. I have no concerns and haye com¢ a¢TOSS no other matters in connection with the eXami￿all0￿ to whi¢h attention should be drawn ill this report in ord¢r to ¢t)able a proper undersranding or the accounts lo be reached. Dated . Matt Brady FCC TC Group Cliffe Hill House 22-26 Nottingh8m Road Siapleford Nottingham NG9 8AA Marlne Rw¢Ar¢h Conservatlon Follndatlon Rettipts Iud Paymellts Account for the Year Ended 30 Aprll 21125 2025 Unrestricted Fund5 1024 o¢al Restricted Fv4d$ BALAN E BROUGHT F RWARD Wise bank account PayP31 Account 10,002 615 10,617 40,155 38,772 40,15S 38,772 RECEIPT Dtsnaiions Giants Sundry receipts Gain on curretjcy conv¢rsio 11.298 10.(x)o 87 855 19,664 62.469 69 36.575 82,202 PAYMEN Con5UTnables Ttavel & accommodation Meeting5. events & workshops Expenses reimburscd Gr&nts Services ank charges Ac¢ountattcy 273 25.463 2.203 2,338 29,324 4,642 520 12.155 245 225 31.286 1.765 276 1,735 856 80 2.20S TOTAL RECEIPTS (LESS PAYMEYTS) 6,758 (6,1001 12,(KM) AL ARRIED FORWARD 17375 £ 34055 £ Wise bank accouttt PayPal accoullt 17,298 77 17,375 £ 34.055 50.157 615 34.055 £ MArIn¢ Res¢*reh *thd CoR5ervatlon Foundatlon Statemenl Asset5 Liabill(lu ￿ at 30 Aprll 2025 2025 UNRESTRIcfED RESTRICTED 2024 UNRESTRICTED TANGIBL ETS Plant atld equkpment 1.078 750 CL'RRENT ASSETS Cssh Fund Bank Current aceoullt PayPal account 17298 77 34,055 10,(MJ2 615 40.155 34,055 10.617 40,155 LL4BILITIE ND 2025 2024 2.310 Independent Examination (Accountant's Rep)rt) 2,205 le￿112026 Approved by th¢ Trnstees OA... Signed..... Marfne Researeh Con5eryAtlo4 FouDda15on Notes to tht A¢¢ouDts for the Ye*r Ended 30 April 2025 Aceountltsg Pollel The accounts {f2nancial statements) hav¢ been prep3t¢d in accordance with AccoLmtiti8 and Reporting by Chariii¢s.' Statement of Recommtnded Ptactkce applirable to chari¢i¢s preparing their accounts in accordance wilh the FinancEal ReporEing Standard applicable in the UK and Republic of Ireland {FRS1021 effective i %1 January 2019, the FinaTLcial Reporting Standard applicable in the UK and R¢publi¢ of Ir¢land {FRS102), and the Chantie5 Act 2011. a) lThcom¢ This is account¢d for on a receivable purpose ID the puiod w￿.Ch it 15 received. ments These are accounted for as paid. The charity meets the def￿ltiOn of a publi¢ benefit entity under FRSIO2. The Twstees ¢onsider there are Tho Enatersal uncertainties about th¢ ¢harity's ability to contsnue a5 a goiTrg cotKern. The a¢CoL￿ts are presented in 5terlin81£). Trustee Expenses A total of £NJL was reimbuned to Trnstees in thi5 year {2024.. NIL}. Exp¢ns¢s w¢r¢ paid w volullteers for tr&vel costs incutred in wrying out th¢ ¢hority's a¢tiviti¢s. Trnstees RemllTher#tion No remuneration or emoluments were received by the Trustees either in their capacities as Trustees OT as members of the Board of Tnthes And no emolwnents paid iti excess of £60,0￿. T8xAtion The charity is registered a5 a charity and as Such no taution is payable on the excess of income OV￿ expeTrditure. Related Party Transactlons Tb¢re are no related paty tra1￿8¢t￿on$ to note. Credltors Creditor5 and provisions are recognised wheTe the Charity has a pregent obligation resulting from a past event that will probably result itt the transfeT of fund5 to a third pw. and the amount due to Settle the obligation ¢an be rneasur¢d or ¢$limat¢d reliably. Cr¢ditors and provisions are nornially reco8nised al their settlement amount.