Charity registrat1? number. 1192638 Scotbsh Charity Number SCO50976 Seaful Annual Rewrt and Financkgl Ststem8nts for the Year Ended 31 December 2024 WESTCOTTS tHARTERED ACCOUNTAIITJ & BUSINESS ADVISEHS
Seaful Contents (contlnued) Reference and Administrative Details Trustees. Report 2to5 Ind8pendent Examine¢s Report Reipts and Pawnents Account Statement of Assets and Llabifilies Notes to the Finanal Statements 9t011
Seaful Reference and Adminlstratlve Details Trustees Ms Hazel Mutsgrove BSC Ms Samantha Sanger Ms Zoe Satsias 1192638 SC050976 Charity Reglstratlon Numbgr Scottish Charity number Prlnclpal Office 47 Boutport Streel Barnstsple Devon 31 1SQ Independent Examingr Westcotts (SW) LLP 47 Boulport Street Barnstsple Devon EX31 1 SQ Page I
Seaful Trustees. Report The trustee5 present the annual report together with the finan(aal staternents of Ihe charity for the year ended 31 Dember 2024. Obje¢liv•s and Activities las r Gov•rning Document): To advan the education of the public In the conservation, protection and Improvement of the physical and natural enviionmenl {in parbcular bul not exclusively oceans, wateNays, and Coastal environments), and in the mental health benefits of nen9 with these environments. particularly but not exdusively through the provision of workshops and seminars. OUR VISION A worfd where people harbour meaninghjl conne¢tigns with the ocean and its role in all our lives, for the health of IndIdualS. communities. and nature. OUR MISSION To deepen conne¢tions to the ocean and waterways through transformational experiences. particular for under-represented indiwdu818 and wmmunities; to èncourage time in nalure.to inspire awe. understanding and appreoiation of the ocean, educate about its habttals and conservation, and to foster environmental slewardship, empowering On Cilizenshlp. We do thi$ through: Vitamin Sea Projecl lTrperson ocean experie118, particularfy for under-represented individuals and ¢ommunitie3, Improving access to blue spaces, and expanding current environmental e¢ho chambeTS. Creating Seaful communities through collaborations with graSSToots nebNork of local volunteers and organisakn'ons, improving local understanding and stewardship of blue spaces, and better indivKlual and commLtnlty wellbeing. Ocean Citizens Ocean Literacyknsed leaming to increase underslanding of the ocean enwronment. the threats faces. and its conservation. Empowering stewardship of local environments through collaboration wth conseivalion organisations and mentorship lo enable our beneficiaries to use their voice for the ocean. Vitamin Sea TV Our surte of films lo help educate and inSre on a variety of global and localised ocean conservation, wildlrfe and marine habllat topi bank of resources to help inform our Ocean Citizens. Our Immersive Seaful Moments stream brings the ocean lo people al home even when they cannot get to the water. Our Ocean Podcasl Longerfom corwersations whith delve into the heart of ocean oonservation - a resource bank for our network, volunteers and engaged beneficiaries. Eath epi5cde has a call to aekn'on for our Ocean tizens. 2024 Achievements: The Vitamin Sea Project has successfvlly Introduced over 120 individuals to the ocean or slrenglhened their existing connections. Page 2
Seaful Trustees. Reporl (contlnued) Chelmarsh Sailing Club. along wlth a dedicated team of volunteers, has seen steady growth in its sthools program, wilh over 50 children PartPating in workshops this year, Volunteer Dave Spencer Brown 8aid, 'Worknng with the thildren was exhausting bul so rewarding and fulfilling, 50 many special moments paddling with the children that touched my heart." The chiklren have to say. 'The best day EVERII. and "I didnl like it. l LOVED ITI!. Cralg has been conducting guided hire sessions and running worksh¢¥)s for refugees through Sup Shropshire. In North Devon. we receNed wonderful feedback from a family of Young Carers. ststlng, "Seaful has saved our family.. though our trip to Lundy this year had lo k cancelled, we successfully conducted a practTce snorkelling session at Skem Lodge, which proved to be valuable. Addi(lonally, we look the children to Ilfracombe Aquarium as an alternatwe activity. - was a complete delight on th& way home, he chatted non Feedback from a support worker said '__ stop atK)Ut a vast range of t¢Jplcs' Our Ukraine Sup Club hosted four group sessions with a total of 12 participants, thanks lo the assistsnce of Marc Wade. Mark and of our UK paddlers also took part in a wortd reeord allempt. Looking ahead to next year, we have individuals interested in becoming instw¢lors and running sessions. We plan lo collaborate other groups and offer the Ukraine Sup Club as a donatiObaSed hlre. In Comwall, Steph organised tsvo qulet SUP sessions through social prescribing. nn conducted kn trips to Arran wf(h 18 children. and trx)th the volunteers and COAST reported enjowng the day3 just as mud) a8 the kids did. In the Highlands, Cal ran snorkelling sessions in partnership wth USS and the SWT Wildlife Trust. Fundraising & Grant Sources: Felix Appelbe- of Ocean Ambassadors, through hi8 foundation. Grace Charity, has played a crucial role in iaising awareness about the Importan of our oceans and ecosystems. His efforts have inspired arKI enTh)uraged Peop to take action io protect the marine environment. The grant we received wa8 U8ed to fund our ambassador program and support our films. The DryTobe Wamrth Projecl aims lo make the outdoors accessible to everyone and has provided funding for the Ukrainian Vitamln Sea project. along with donation5 of products for LK)th volunteers and beneficiaries. Spar UK, a suppthr of local communities, helped create an educath)nal resour that is used across all areas of our charity and is publidy avallable on our website. Corporate Donations: Loftus Training contributed a profit split fn Mental Health FirstAid training provided by Matt. - Ardent Training committed a donation from the sale of their Day Skipper Theory course. Page 3
Soaful Trustees. Report (contlnued) - Nothing Fishy cdlected luNls through checkout donations. - We Create Digital supports us with our website and contributes through 1 % for the Planet. - Klean Kanteen created limited edition bottles for us and Committed to donaung a wbon of 118 sales. in addition to providlng products for participants and volunteers. - The Bengey Family funded our young carers, trip8 to Lundy. - Palm Intemalional raised funds through the sale of one of their prcAlucts. Alongside the many public and private donations- Thank you to everyone who has donated. Volunteer Contributions: Special thanks go to: Marc Wade for supporting the work in North Devon. Craig Jackson for hls contlnued work leading the Vitamln Sea Project in Shropshire alongside his team of volunteers. The full team at Chelmarsh for the4r contlnuous support sinc* the charity sesslons have been running at the reservoir. Linn van der Zanden for her continued support th Seaful snorkelling in Scotland. All the volunteers thal have supported and continue lo support Seafvl. Public bgnafit The trustees confinn that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Chadity Commission for England and Wales. Financial revi During the year total income was £25.127 12023.. £45,157) of £4,000 {2023: £10,000) was for restricted purposes. Totsl expenditure during the year amounted to £31,34712023: £35,538). of which £8.998 (2023.. £3.207) was restricted. At the year end total Ljnrestricled fvnds stood at £25,59912023-. £26,821) and restricted funds were £7.044 (2023: £2.046). RÈserves Policy Seaful's core prouramme is based on facllitallng in-r$On water-ba8ed eXFerien that are complemented by èducational resources. We look to ensure that reserves are made available for up to 6 monlhs of activities. Seaful 1$ not responsible to any one individual to 0er ongoing costs, and all programmes could be scaled back in an emergency. However, to achieve our charitable aims, it is recommended that in part of the reserves held for activities. Page 4
Seaful Trustees. Reporl (contlnued) The back office runnlng of the charity is required to li818e with olher Stakeholders and providers. organise and the smooth running of the charity in general, this is deemed lo be of the huJhest risk and required in order for the charlty to be able to function, along the essential office spend of SOare to satisfy GDPR and compliance and organise the communications and insurance to ensure that any activS1ies Seafvl facblitates are also deemed highly crucLg1. Current charity reserves held are 6 months of these costs. held in a bank savings a¢Unt to eam interest on these fvnds. Statsment of Trust•es' Responsibilities The trustees are reSPDnsible for preparing the trustees, rewjrt and the financial statements in accordan the United Kingdom Accounting Stsndards Iunlted ngdoM Generally Accepted Accounting Practice) and appli¢able18w and regulations. The law applicable lo charities requires the trustees to prepare financial statements for each financial year which give a tiue and fair view of the State of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these fin8n¢ial $tatements, th& trustees are requlred lo.. select suitable aCuntIng policies and then apply them consistently.. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent., slate whether applicable accounting stsndards have been followed, subject lo any m8terial departures disd08ed and explalned in the financial slalements-. and prepare the financial statements on the going concem bask8 unless (( is inappropriate to presume that the charity will continue in busine8S. The trustees are re3POllsible for keeping proper accounting records that disdose with reasonable accuiacy at any time the financial position of the charity and enable them to ensure that the financial stslemenls comply with the Charities Act 2011, the Charities IArLounts and Reports) Regulations 2008, and the provisions of the constilulion. The tnjstees are also responsible for safrguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and olhei Irregularitles. The trustees are responsible for the maintenance and integrity of the corporate and financial information induded on the charitable company's website. Legislation goveming the preparation and dissemination of financial statements may differ from legislation in olherjurisdictions. The annual report W88 approved by the Injstees of the charity on 29 August 2025 and signed on its behalf by.. H. Musgrove Ms Hazel Musgrove Bsc Trustse Page 5
Seaful Independent Examinels Report lo the trustees of Seaful I report lo the trustees on my examination of the a¢nts of Seaful for the year ended 31 December 2024. Resp?nsibilities and basis of report As the charity trustees of Seaful you are responsible for the preparation of the accounts in accordance th the requirements of the Chadties and Trustee Investment (Scotland) Act 2005 (the '2005 Acl'l. the Charities Accounts IScoUand) Regulations 2006 (as amended), and the Charities Act 2011 {'the 2011 ACVI. You are satisfied that your Charity 15 not required by chaiity law to be audlled and have chosen Instead to have an independent examination. and the Charities Act 2011 I'the Act'}. I report In respect of my examination of the Seaful's accounts carried out under section 44111 Ic} of the 2005 Act and sectN)n 145 of the 2011 AGI. In carrying out my examination I have followed the requiremenls of Regulation 11 of the Charities Accounts IScolland} Regulations 2006 las amended) and all applicable Directions given by the Charity Commission under section 14515)Ibl of the 2011 IDdepend•nt examiner's sLitement I have cornpleted my examination. I confim) that no material matters have come to my attention in connoction the examination giving me cause to believe that in any material respect.. arKounting records were not kept as required by section 44 11llal of the 2005 Act and Regulation 4 of the Charities Aco)unts IS¢otlandl Regulations 2006 las amended and section 130 of the 2011 Act.. or 2. the accounts do not accord wilh those records; and 3. the accounts do not comply wth the accountlng requirements Regulation 8 of the Charities Accounts (Scotiand) Re9ulatlon8 2006 las amended. I have no concems and have come across no other matters in connection wilh the examination to which attention should be drawn in this report in ordei lo enable a proper understanding of the accounts lo be reached. Catherine Williams FCA DChA Independent Examlner Weslcotts ISW) LLP 47 Boutport Street Barnslaple Devon EX31 1SQ Page 6
Seaful Receipts and Payments Account for the Year Ended 31 December 2024 Total 2024 Unrestricted funds Restricted funds Total 2023 Note R•colpts: Donations and legacEs Other trading activities Investment income 20,413 547 167 4,OC#) 24.413 547 167 44.699 405 Total receipts Payments: Freelance ¢o$ts Establishment costs Motor and Iravelling Indepersdent Examiners fees Equipment Difecl Costs 21.127 4.0)0 25.127 45,157 (14,7451 13,8811 {363) {6,655) {6401 19531 {21,400) 14,521 (1,3161 125,6711 (4.0721 {2,1081 1987) {987) {904) 12.783) 11,262) (750 8,998) 12,012} 131,347) Total payments 122.3491 135,5381 Nel Ipaymenlsllreceipts Cash brought forward Cash carried loard (1,2221 26,821 (4,998) 7,044 2.046 (6,2201 33.865 9,619 24,246 25,599 27,645 33.865 JI of the ¢harty's activities derive from continuing operations during Ihe above peritxIs. The funds breakdown for 2023 18 shown in note 5. The notes on pages 9 to 11 form an Integrnl part of these financlal stalements. Page 7
Seaful
(Registration number: 1192638) Statement of Assets and Liabilities as at 31 December 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 27,645 | 33,865 | |
| Restricted income funds | |||
| Restricted funds | 2,046 | 7,044 | |
| Unrestricted income funds | |||
| Unrestricted funds | 25,599 | 26,821 | |
| Total funds | 5 | 27,645 | 33,865 |
The financial statements on pages 7 to 11 were approved by the trustees, and authorised for issue on 29 August 2025 and signed on their behalf by:
H. Musgrove
Ms Hazel Musgrove Bsc Trustee
The notes on pages 9 to 11 form an integral part of these financial statements. Page 8
Seaful Notes to the Flnan¢lal Statements for the Year Ended 31 December 2024 1 Accounting pollcles Basis of preparation Seaful meets the definition of a public benefit entity under FRS 102. The accounts (financial stalementsl have been prepared on the reipts and payments ba818. Going concern The trustees consider Ihgt there are material uncertainties about the charlvs abilty to continue as a golng ¢oncem. Inme AJI incoming resources are included in the statement of financial actNities when the charity receives Ihe income. The following speaffic poli¢ie$ are applied lo particular Categ(eS of income: Donations are received by way of grants. donations and gifts and Is induded in full in the Statement of Financial Activities when reived. Grants, inctuding grants for the purchase of fixed assets, are ree4)gnised in full in the Statement of Financial Activities in the year in which they are receivable. Donated services and f8cilitse8 are included 81 the value to the tharity where this can be quantrfied. The value of services provided by volunteers has not been induded. Expenditure Expenditure is recognised on a payments basi3. Expenditure includes any VAT whith cannot be fully recovered, and is reported as part of the expenditure to which it relates. Taxation The tharity is considered to pass the tests set out Sn Paragraph 1 Schedule e of the Finan Act 2010 and therefore f( meets the definition of a chafitable company for UK CL)rporalion tax purposes. ACrdinglY, the chafity is potentially exempt from laxalion in respect of income or capital gains reiVed within Categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are apled exclusively lo charitable purposes. Cash and cash equivalènts Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid inveslmenls that are readily convertible to a known amount of cash and are subject to an insKJnrficant risk of change in value. Page 9
Seaful Notes to the Financlal Statements for the Year Ended 31 December 2024 {contlnued) Fund stru¢tur• Unrestrided income lunds are general funds that are avallable for use at the trustees discretion in furtherance of the objectives of the chaTIty. Restricted iome funds are those donated for use in a particular area or for 8peeific purp¢)8es, the use of which Is restrioted to that area or ww. Basis of preparation Seaful meets the definition of a public benefit entity under FRS 102. The accounts lflnancial statements) h8ve been prepared on the receipts and payments basis. 2 Income from donations and legacies Unrestricted funds Gènèral Restricted funds Total 2024 Donatk)ns Grants 15,413 5.000 20.413 15,413 9,000 24.413 4.000 4.000 Unrestricted funds General Restricted funds Total 2023 Donations Grants 20,139 14,560 34,699 20,139 24,560 10,000 10.000 44,699 3 TNstegs remuneratlon and expgnses No trustees, nor any per80ns connected with them, have recefved any remuneration from the charity during the year. No trustees have recelved any reimbursed expenses from the charity durlng the year. 4 Taxation The charity is a registered charity and is therefore exempt from taxaOn. Page 10
Seaful Notes to the Financlal Statements for the Year Ended 31 December 2024 (contlnued) 5 Funds Balance at 1 January 2024 Balance at 31 December 2024 Incoming resources Resources expended Unrestricted funds Unrestricted funds 26,821 21,127 122,349) 25,599 Restrt¢led funds Vitamin Sea Project Spar- Educational Progiam Dryrobe - Wamith Project 7,044 14,998) (1,0001 3.000 2,046 1,000 3.000 7.044 4,000 8,998} 2,046 Total funds 33,865 27.645 Balance at 1 January 2023 Balance at 31 Decèmber 2023 Incoming resources Resources expended Unrestricted funds urbrestrted fvnd8 23,995 35,157 132,3311 26.821 Restricted funds Vitamin Sea ProjerA 251 10,000 3,207 Total funds 24,246 45,157 135.538 33,865 The specific purposes for which the fvnds are to be applied are as follows- Vitsmin Sea Project (Awards for Al) funding was received lowards the provision of a pilot 8 week course of weekty paddleboarding. lor allemalively surfing, snorkelling. rockpoolingl and Mindful Environmontsl awareness sessions in North Devon. Spar - Educational Ftrogram funding was received towards creating the .1 know Ocean. MmUnity edu¢gtion program, avallable to all via cyJr website Dryrobe Wamth Projeot funding was received toward5 paddleboarding sessions for displaced refugees in North Devon and the Young Carers Lundy snorkelling trip. Page 11