**Charity Registration Number: 1193944**
**North Sea Conservation (Whitby Lobster Hatchery) Financial Statements For the Year Ending 31 March 2024**
## **JANE ASCROFT ACCOUNTANCY LIMITED**
Chartered accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Financial Statements**
## **Year Ended 31 March 2024**
||**Page**|
|---|---|
|Trustees' Annual Report|**1**|
|Independent Examiner's Report to the Trustees|**6**|
|Statement of Financial Activities|**7**|
|Statement of Financial Position|**8**|
|Notes to the Financial Statements|**9**|
|**The Following Pages Do Not Form Part of the Financial Statements**||
|Detailed Statement of Financial Activities|**22**|
## **North Sea Conservation (Whitby Lobster Hatchery)**
## **Trustees' Annual Report**
## **Year Ended 31 March 2024**
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
## **Objectives**
The objects of the charity are:
The advancement of education for the public benefit in: (a) the conservation, protection and improvement of the marine environment of the north east coast by: - the operation of a public marine species education facility in Whitby; - promoting and supporting research into the marine environment, including fisheries science and fisheries stocks, and the European and other varieties of lobster. (b) the marine and fisheries heritage of Whitby.
## **Public Benefit**
All trustees have regard to the public benefit guidance as issued by the charity commission. During this reporting period the trustee board received external trustee training.
## **Activities**
## **Conservation**
Throughout 2023-2024 the charity has continued to progress with the development of the lobster hatchery. The final installation of the lobster hatchery equipment concluded in 2022, setting the scene for 2023 to be the first full season using the new installation. Overall the season was successful in the production of juvenile lobsters achieving just short of our target. However, it was a great year of developing our understanding and experience. There were some teething and staffing issues which were rectified towards the end of the season. By September the charity had secured a grant to support the recruitment of new staff members who had a sole focus on the hatchery operation and output, a vital step in the charity's growth. With additional hands-on support in the hatchery, time was freed up for our general manager who could focus more on the strategic elements and management of the charity.
J Redfern General Manager Fixed Term 1 Year, now extended 1st June 23 R Lightowler Aquaculturist Fixed Term 2 Years - 16th July 23, since left Aug. 24 and replaced
## **Education**
Education is a vital part of our charities work. Over the 2023-24 period we were able to engage with many events, shows and talks connecting with over 1000 people in our area.
Additionally in collaboration with the Whitby Marine Discovery CIC - the visitors centre opened in October 2023. During the remaining time in this reporting period circa 10,000 people visited the facility. Visitors were taught about the work of our charity and had a chance to view the operation through the viewing windows.
The interest of school groups, public visits and other groups grew and we hosted 12 groups between October 23 and March 2024 comprising over 300 people.
**1**
## **North Sea Conservation (Whitby Lobster Hatchery)**
## **Trustees' Annual Report** _**(continued)**_
## **Year Ended 31 March 2024**
## **Research**
Our charity is experiencing some inertia in regards to research, taking a little longer to get the ball rolling than hoped. We have also experienced how difficult it is to get research grants, with various projects with research partners being turned down. However, we are continuing to build connections and working on the proposals and believe we will have more success in the future.
Once again, we hosted two marine biology undergrads for a 2 week placement in 2024. The students gained insights and information on our maritime heritage, fisheries and marine biology.
Furthermore we were fortunate to host a PhD PIPS placement student for 3 months between July - September 2023. The student gained valuable experience at our facility, remaining in touch and volunteering when he can.
## **Contribution made by volunteers**
Once again this reporting period, our charity is extremely grateful for our volunteers and we were fortunate enough to attract multiple volunteers between 2023-24 plus has a high rate of retention for volunteers. Roughly 12 volunteers contributed to the charity's aims and objectives, conducting various tasks including hatchery operation, maintenance, social media, public outreach and more.
We are pleased to host volunteers for many years, some from day one of the formation of our charity.
At NSC we are committed to providing a mutually beneficial relationship with our volunteers, we invest to ensure they learn and grow their skills while enjoying themselves. We are extremely grateful for the generosity of our volunteer team.
## **Achievements**
Together with the adjoining Marine Discovery Centre CIC the charity connected with over 10,000 people. Education and inspiration were provided with more people learning about our charity. We also had national press interest which further increased our reach and allowed us to highlight the environmental issues faced by the lobsters and marine life in the North Sea.
Our lobster hatchery facility was ready for the 2023-24 season. Despite some teething issues we were able to release thousands of juvenile lobsters. During this reporting period significant learning and development was made by the charity and staff. We were pleased to fall just short of our target for lobster releases.
Over this period we were pleased to work with universities to provide an opportunity for future marine scientists to gain valuable experience and knowledge.
**2**
## **North Sea Conservation (Whitby Lobster Hatchery)**
**Trustees' Annual Report** _**(continued)**_
## **Year Ended 31 March 2024**
## **Achievements against objects set**
## **Conservation**
In our first year of fully operating the lobster hatchery equipment, we had not set strict objectives against the output of the system. An aim was established which we just fell short of, primarily due to unforeseen teething issues in the hatchery operation. Now rectified, the charity is generally pleased with the project and achievements made this reporting period.
## **Education**
Various outreach days, inhouse talks, school visits and talks with members of the public via the adjoining marine discovery centre all helped us achieve our educational aims for this reporting period.
## **Research**
More work to be done on securing research grants and building relationships with research partners and funders. We have had some progressive talks with relevant parties and don't see this being of major concern to the charity's success.
## **Performance of fundraising activities against objectives set**
Still in our infancy during the 2023/24 reporting period the charity had not set funding objectives. This package of work will be picked up by the board of trustees in the next reporting period.
## **Financial Review**
Total income for the year ending 31st March 2024 was £141,313 (2023 - £86,767) of which £118,422 was restricted grants (2023 - £7,250). Total expenditure for the year was £98,220 (2023 - £75,443) of which £28,128 was restricted expenditure (2023 - £7,250).
There was an overall surplus for the year of £43,093 (2023 - £11,324) which comprised a surplus of restricted funds of £90,294 (which will be carried forward to be spent in the 2024/25 financial year) and a deficit on unrestricted funds of £47,201. This deficit on unrestricted funds is after depreciation of £19,809.
## **Compliance with accounting standards**
The Trustees, on examination of prior accounts, became aware that the submitted accounts for prior years were not compliant with charity accounting regulations (Charities SORP (FRS 102) and the Charities Act 2011). This has caused a delay to the submission of the 2023/24 accounts to ensure that the charity is conforming fully to the charity accounting regulations. We have moved accountants to a charity specialist and are now confident that we are reporting correctly.
## **Reserves Policy**
NSC has produced and reviewed a reserves policy which is held in storage along with other policies. NSC is working towards reserves of £40,000 which will ensure the hatchery has a strong financial position. At 31st March 2024 actual reserves were £25,501.
**3**
## **North Sea Conservation (Whitby Lobster Hatchery)**
## **Trustees' Annual Report** _**(continued)**_
## **Year Ended 31 March 2024**
## **Going Concern**
The Trustees have reviewed the financial position of the charity with a view to assessing whether it is a going concern. They are aware that there is a substantial long term liability owed to Ocean On Land Technology (OOLT) however they have received written assurance that the loan may be repaid gradually over time with OOLT having no concerns over the timeline. For this reason the Trustees believe that the charity is a going concern.
## **The charity's principal sources of funds**
- Donations from individuals, businesses and large industry
- Some government grants and local council grants
## **The principal risks facing the charity**
1. The lack of a reserve.
2. The OOLT debt repayments.
3. The lack of certainty in the unrestricted income stream.
4. Conflicts of interest.
## **Structure, Governance and Management**
The charity is a Charitable Incorporated Organisation (CIO) set up under the Foundation model and is governed by its constitution. It was registered as a charity on 26th March 2021 with charity number 1193944.
## **Trustee Recruitment and Training**
Trustees are recruited by local advertisement or invitation to join the Trustee board. All Trustees have been given access to the Constitution, most recent accounts, Trustee resources via the Gov.uk website plus additional required information. During the 2023/24 reporting period the Trustee board attended a Trustee training workshop.
**The charity's organisational structure and any wider network with which the charity works** The charity is managed by the Board of Trustees who oversee the general manager role and other staff members. Currently, the charity is not connected with other networks but has a relationship with the Whitby Marine Discovery CIC (see below).
## **Relationship with any related parties**
The Whitby Marine Discovery CIC (the "CIC") started trading in October 2023. The CIC entered into a deed relating to making annual payments to the charity on 31st March 2023 (the "deed"). The Deed confirms that the CIC will donate a proportion of the CIC's annual net profit to the charity. The Parties are aware of the Charity Commission's guidance on charities connected with non-charities.
The relationship with the CIC will provide an income stream to the charity and help the charity meet its educational objectives. The charity ensures that all activities and resources are directed towards advancing its charitable purposes, such as marine conservation and education, thereby maintaining compliance with legal obligations and safeguarding its charitable status.
**4**
## **North Sea Conservation (Whitby Lobster Hatchery)**
**Trustees' Annual Report** _**(continued)**_
## **Year Ended 31 March 2024**
|**Reference and Administrative**|**Details**||
|---|---|---|
|**Registered charity name**|North Sea Conservation (Whitby|Lobster Hatchery)|
|**Charity registration number**|1193944||
|**Principal office**|9 Pier Road||
||Whitby||
||North Yorkshire||
||YO21 3PU||
|**The Trustees**|||
||Linda Wild (Chair)||
||Stuart Roe|(Appointed 1 November 2023)|
||Neil Pickard (Treasurer)||
||Gail Mackle||
||James Cole||
||Terry Pearson||
||Alice Ackroyd||
||Andrew Brown|(Appointed 1 November 2023)|
||Richard Brewer|(Appointed 1 November 2023)|
||Mike Russel||
||Richard Pashby|(Resigned 4 July 2023)|
||Hero Sumner|(Resigned 13 April 2023)|
|**Independent Examiner**|Jane Ascroft FCA MA (Cantab)||
||Enterprise House||
||Harmire Enterprise Park||
||Barnard Castle||
||County Durham||
||DL12 8XP||
The trustees' annual report was approved on 5th April 2025 and signed on behalf of the board of trustees by:
Linda Wild (Chair) Trustee
**5**
## **North Sea Conservation (Whitby Lobster Hatchery)**
## **Independent Examiner's Report to the Trustees of North Sea Conservation (Whitby Lobster Hatchery)**
## **Year Ended 31 March 2024**
I report to the trustees on my examination of the financial statements of North Sea Conservation (Whitby Lobster Hatchery) ('the charity') for the year ended 31 March 2024.
## **Responsibilities and Basis of Report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jane Ascroft FCA MA (Cantab) Independent Examiner
Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP
**6**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Statement of Financial Activities**
## **Year Ended 31 March 2024**
||||**2024**||2023|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|13,083|118,422|131,505|83,827|
|Charitable activities|**5**|9,808|–|9,808|2,940|
|||`────────`|`─────────`|`─────────`|`────────`|
|**Total income**||22,891|118,422|141,313|86,767|
|||`════════`|`═════════`|`═════════`|`════════`|
|**Expenditure**||||||
|Expenditure on charitable activities|**6,7**|70,092|28,128|98,220|75,443|
|||`────────`|`─────────`|`─────────`|`────────`|
|**Total expenditure**||70,092|28,128|98,220|75,443|
|||`════════`|`═════════`|`═════════`|`════════`|
|||`────────`|`─────────`|`─────────`|`────────`|
|**Net income and net movement in**|**funds**|(47,201)|90,294|43,093|11,324|
|||`════════`|`═════════`|`═════════`|`════════`|
|**Reconciliation of funds**||||||
|Total funds brought forward||72,702|–|72,702|61,378|
|||`────────`|`─────────`|`─────────`|`────────`|
|**Total funds carried forward**||25,501|90,294|115,795|72,702|
|||`════════`|`═════════`|`═════════`|`════════`|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 9 to 20 form part of these financial statements.**
**7**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Statement of Financial Position**
## **31 March 2024**
|||**2024**|2023|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed Assets**||||
|Intangible assets|**12**|6,980|9,307|
|Tangible fixed assets|**13**|176,000|193,643|
|||`─────────`|`─────────`|
|||182,980|202,950|
|**Current Assets**||||
|Debtors|**14**|32,722|32,591|
|Cash at bank and in hand||90,498|14,209|
|||`─────────`|`────────`|
|||123,220|46,800|
|**Creditors: amounts falling due within one year**|**15**|116,331|177,048|
|||`─────────`|`─────────`|
|**Net Current Assets**||6,889|(130,248)|
|||`─────────`|`─────────`|
|**Total Assets Less Current Liabilities**||189,869|72,702|
|**Creditors: amounts falling due after more than one year**|**16**|74,074|–|
|||`─────────`|`────────`|
|**Net Assets**||115,795|72,702|
|||`═════════`|`════════`|
|**Funds of the Charity**||||
|Restricted funds||90,294|–|
|Unrestricted funds||25,501|72,702|
|||`─────────`|`────────`|
|**Total charity funds**|**18**|115,795|72,702|
|||`═════════`|`════════`|
These financial statements were approved by the board of trustees and authorised for issue on 5th April 2025 and are signed on behalf of the board by:
Neil Pickard (Treasurer) Trustee
**The notes on pages 9 to 20 form part of these financial statements.**
**8**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements**
**Year Ended 31 March 2024**
## **1. General Information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 9 Pier Road, Whitby, North Yorkshire, YO21 3PU.
## **2. Statement of Compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **3. Accounting Policies**
## **Basis of Preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going Concern**
The trustees consider that the charity is a going concern and have explained their conclusion in the Financial Review of the Trustees' Annual Report.
## **Judgements and Key Sources of Estimation Uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
**9**
**North Sea Conservation (Whitby Lobster Hatchery)**
**Notes to the Financial Statements** _**(continued)**_
**Year Ended 31 March 2024**
**3. Accounting Policies** _**(continued)**_
## **Income**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Expenditure**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Intangible Assets**
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
**10**
**North Sea Conservation (Whitby Lobster Hatchery)**
**Notes to the Financial Statements** _**(continued)**_
**Year Ended 31 March 2024**
**3. Accounting Policies** _**(continued)**_
## **Intangible Assets** _**(continued)**_
Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
## **Amortisation**
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website - 25% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
## **Tangible Assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|Plant and machinery|-|10% reducing balance|
|---|---|---|
|Fixtures and fittings|-|10% reducing balance|
|Office Equipment|-|25% reducing balance|
## **Impairment of Fixed Assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
## **Financial Instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Defined Contribution Plans**
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
**11**
**North Sea Conservation (Whitby Lobster Hatchery)**
**Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
**3. Accounting Policies** _**(continued)**_
## **Defined Contribution Plans** _**(continued)**_
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
## **Cash at Bank and in Hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Taxation**
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received 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 extent that such income or gains are applied exclusively to charitable purposes.
**12**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **4. Donations and Legacies**
||||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|---|
||||Funds|Funds|**2024**|
||||£|£|**£**|
||**Donations**|||||
||Donations||12,083|–|12,083|
||**Grants**|||||
||Fishmongers Company||–|20,000|20,000|
||Woodsmith Foundation||–|61,165|61,165|
||UK Shared Prosperity Fund (UKSPF)||1,000|24,648|25,648|
||Marine Management Organisation (MMO)||–|12,609|12,609|
||||`────────`|`─────────`|`─────────`|
||||13,083|118,422|131,505|
||||`════════`|`═════════`|`═════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
||||£|£|£|
||**Donations**|||||
||Donations||20,187|–|20,187|
||Sofia Offshore Windfarm||12,500|–|12,500|
||Dogger Bank 3||12,500|–|12,500|
||Whitby Seafoods Ltd||12,000|–|12,000|
||York Potash (Anglo American)||7,512|–|7,512|
||Popcorn Group Ltd||7,878|–|7,878|
||**Grants**|||||
||Fishmongers Company||–|7,250|7,250|
||Scarborough Council||4,000|–|4,000|
||||`────────`|`───────`|`────────`|
||||76,577|7,250|83,827|
||||`════════`|`═══════`|`════════`|
|**5.**|**Charitable Activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Income from charitable activities|9,808|9,808|2,940|2,940|
|||`═══════`|`═══════`|`═══════`|`═══════`|
**13**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **6. Expenditure on Charitable Activities by Fund Type**
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2024**|
||£|£|**£**|
|Costs of charitable activities|67,496|28,128|95,624|
|Support costs|2,596|–|2,596|
||`────────`|`────────`|`────────`|
||70,092|28,128|98,220|
||`════════`|`════════`|`════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|Costs of charitable activities|67,502|7,250|74,752|
|Support costs|691|–|691|
||`────────`|`───────`|`────────`|
||68,193|7,250|75,443|
||`════════`|`═══════`|`════════`|
## **7. Expenditure on Charitable Activities by Activity Type**
|||Activities||||
|---|---|---|---|---|---|
|||undertaken||**Total funds**|Total fund|
|||directly Support costs||**2024**|2023|
|||£|£|**£**|£|
||Costs of charitable activities|95,624|–|95,624|74,752|
||Governance costs|–|2,596|2,596|691|
|||`────────`|`───────`|`────────`|`────────`|
|||95,624|2,596|98,220|75,443|
|||`════════`|`═══════`|`════════`|`════════`|
|**8.**|**Net Income**|||||
||Net income is stated after charging/(crediting):|||||
|||||**2024**|2023|
|||||**£**|£|
||Amortisation of intangible assets|||2,327|3,103|
||Depreciation of tangible fixed assets|||19,809|18,810|
|||||`════════`|`════════`|
|**9.**|**Independent Examination Fees**|||||
|||||**2024**|2023|
|||||**£**|£|
||Fees payable to the independent examiner for:|||||
||Independent examination of the financial|statements||1,740|60|
||Other financial services|||473|–|
|||||`───────`|`────`|
|||||2,213|60|
|||||`═══════`|`════`|
**14**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **10. Staff Costs**
|The total staff costs and employee benefits for the reporting period are analysed as|The total staff costs and employee benefits for the reporting period are analysed as|follows:|
|---|---|---|
||**2024**|2023|
||**£**|£|
|Wages and salaries|32,917|–|
|Employer contributions to pension plans|722|–|
||`────────`|`────`|
||33,639|–|
||`════════`|`════`|
The average head count of employees during the year was 2 (2023: Nil). The average number of full-time equivalent employees during the year is analysed as follows:
||**2024**|2023|
|---|---|---|
||**No.**|No.|
|Number of management staff|1|–|
|Number of other staff|1|–|
||`────`|`────`|
||2|–|
||`════`|`════`|
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
## **Key Management Personnel**
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £17,750 (2023:£–).
**15**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **11. Trustee Remuneration and Expenses**
No trustees have received expenses or remuneration in the current period or previous period.
A previous trustee, Joe Redfern, has been employed by the charity as general manager since June 2023. Prior to that he was paid as consultant in a self employed capacity. He was a trustee from the charity's registration in March 2021 until November 2021 and the trustees now realise that the payments made to him during this time infringe the charity’s constitution.
The trustees intend to report this oversight to the Charity Commission and ask for retrospective approval of the payments.
## **12. Intangible Assets**
||**Website**|
|---|---|
||**£**|
|**Cost**||
|**At 1 April 2023 and 31 March 2024**|12,410|
||`════════`|
|**Amortisation**||
|At 1 April 2023|3,103|
|Charge for the year|2,327|
||`────────`|
|**At 31 March 2024**|5,430|
||`════════`|
|**Carrying amount**||
|**At 31 March 2024**|6,980|
||`════════`|
|At 31 March 2023|9,307|
||`════════`|
**16**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **13. Tangible Fixed Assets**
|||Plant and|Fixtures and|Office||
|---|---|---|---|---|---|
|||machinery|fittings|Equipment|**Total**|
|||£|£|£|**£**|
||**Cost**|||||
||At 1 April 2023|171,961|40,094|417|212,472|
||Additions|2,682|–|1,184|3,866|
||Disposals|(1,730)|–|–|(1,730)|
|||`─────────`|`────────`|`───────`|`─────────`|
||**At 31 March 2024**|172,913|40,094|1,601|214,608|
|||`═════════`|`════════`|`═══════`|`═════════`|
||**Depreciation**|||||
||At 1 April 2023|16,587|2,181|61|18,829|
||Charge for the year|15,633|3,791|385|19,809|
||Disposals|(30)|–|–|(30)|
|||`─────────`|`────────`|`───────`|`─────────`|
||**At 31 March 2024**|32,190|5,972|446|38,608|
|||`═════════`|`════════`|`═══════`|`═════════`|
||**Carrying amount**|||||
||**At 31 March 2024**|140,723|34,122|1,155|176,000|
|||`═════════`|`════════`|`═══════`|`═════════`|
||At 31 March 2023|155,374|37,913|356|193,643|
|||`═════════`|`════════`|`═══════`|`═════════`|
|**14.**|**Debtors**|||||
|||||**2024**|2023|
|||||**£**|£|
||Trade debtors|||–|200|
||Prepayments and accrued income|||1,380|–|
||Other debtors|||31,342|32,391|
|||||`────────`|`────────`|
|||||32,722|32,591|
|||||`════════`|`════════`|
|**15.**|**Creditors:** **amounts falling due within**|**one year**||||
|||||**2024**|2023|
|||||**£**|£|
||Bank loans and overdrafts|||–|280|
||Trade creditors|||109,303|364|
||Accruals and deferred income|||3,000|460|
||Social security and other taxes|||607|–|
||Owed to Ocean on Land Tech|||–|175,944|
||Pension creditor|||203|–|
||Other creditors|||3,218|–|
|||||`─────────`|`─────────`|
|||||116,331|177,048|
|||||`═════════`|`═════════`|
**17**
## **North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **16. Creditors: amounts falling due after more than one year**
||**2024**|2023|
|---|---|---|
||**£**|£|
|Ocean on Land Technology|71,494|–|
|Rent owed to Lobstore|2,580|–|
||`────────`|`────`|
||74,074|–|
||`════════`|`════`|
## **17. Pensions and Other Post Retirement Benefits**
## **Defined contribution plans**
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £722 (2023: £Nil).
## **18. Analysis of Charitable Funds**
## **Unrestricted funds**
|**Unrestricted funds**|||||||
|---|---|---|---|---|---|---|
|||At|||**At 31 March**||
||1|April 2023|Income|Expenditure||**2024**|
|||£|£|£||£|
|General funds||72,702|22,891|(70,092)||25,501|
|||`════════`|`════════`|`════════`||`════════`|
|||At|||At|31 March|
||1|April 2022|Income|Expenditure||2023|
|||£|£|£||£|
|General funds||61,378|79,517|(68,193)||72,702|
|||`════════`|`════════`|`════════`||`════════`|
**18**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **18. Analysis of Charitable Funds** _**(continued)**_
## **Restricted funds**
|**Restricted funds**|||||
|---|---|---|---|---|
||At|||**At 31 March**|
||1 April 2023|Income|Expenditure|**2024**|
||£|£|£|£|
|Fishmongers Company|–|20,000|–|20,000|
|Woodsmith Foundation|–|61,165|(28,128)|
33,037|
|UK Shared Prosperty Fund|–|24,648|–|24,648|
|Marine Management Organisation|
–|12,609|–|12,609|
||`────`|`─────────`|`────────`|
`────────`|
||–|118,422|(28,128)|
90,294|
||`════`|`═════════`|`════════`|
`════════`|
||At|||At 31 March|
||1 April 2022|Income|Expenditure|2023|
||£|£|£|£|
|Fishmongers Company|–|7,250|(7,250)|
–|
||`────`|`───────`|`───────`|
`────`|
||–|7,250|(7,250)|
–|
||`════`|`═══════`|`═══════`|
`════`|
|**Analysis of Net Assets Between**|**Funds**||||
|||Unrestricted|Restricted|**Total Funds**|
|||Funds|Funds|**2024**|
|||£|£|**£**|
|Intangible assets||6,980|–|6,980|
|Tangible fixed assets||176,000|–|176,000|
|Current assets||32,926|90,294|123,220|
|Creditors less than 1 year||(116,331)|–|(116,331)|
|Creditors greater than 1 year||(74,074)|–|(74,074)|
|||`─────────`|`────────`|
`─────────`|
|**Net assets**||25,501|90,294|115,795|
|||`═════════`|`════════`|
`═════════`|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2023|
|||£|£|£|
|Intangible assets||9,307|–|9,307|
|Tangible fixed assets||193,643|–|193,643|
|Current assets||46,800|–|46,800|
|Creditors less than 1 year||(177,048)|–|(177,048)|
|||`─────────`|`────`|
`─────────`|
|**Net assets**||72,702|–|72,702|
|||`═════════`|`════`|
`═════════`|
## **19. Analysis of Net Assets Between Funds**
**19**
**North Sea Conservation (Whitby Lobster Hatchery)**
**Notes to the Financial Statements** _**(continued)**_
## **Year Ended 31 March 2024**
## **20. Related Parties**
The charity pays rent to the Marine Discovery Centre Whitby CIC (MDC) for the area it occupies within the Visitor Centre. Terry Pearson, a trustee of the charity and Joe Redfern, general manager of the charity are directors and shareholders of MDC. The rent for this space is £410 per month from October 2023. £2,460 is due for the year to 31st March 2024 and all of this is owing to MDC at the year end.
The charity also pays rent to Lobstore Ltd for the space used by the aux tanks and the charity’s office. Terry Pearson is a director and shareholder of Lobstore Ltd and he is also a Trustee of the charity. The rent for this space is £215 per month from March 2023. £2,580 is due for the year to 31st March 2024 and this is classed as a long term liability as at 31st March 2024. It has been agreed that the debt will be paid once the charity has managed to reach its goal of holding reserves of £40,000.
Finally, the charity is charging MDC for part use of the charity’s office. This is charged at £115 per month from March 2023. £1,380 is shown in income for the year to 31st March 2024 and the same amount is also shown in accrued income.
**20**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Management Information**
**Year Ended 31 March 2024**
**The Following Pages Do Not Form Part of the Financial Statements.**
**21**
**North Sea Conservation (Whitby Lobster Hatchery)**
## **Detailed Statement of Financial Activities**
## **Year Ended 31 March 2024**
||**2024**|2023|
|---|---|---|
||**£**|£|
|**Income and endowments**|||
|**Donations and legacies**|||
|Donations|12,083|20,187|
|Sofia Offshore Windfarm|–|12,500|
|Dogger Bank 3|–|12,500|
|Whitby Seafoods Ltd|–|12,000|
|York Potash (Anglo American)|–|7,512|
|Popcorn Group Ltd|–|7,878|
|Fishmongers Company|20,000|7,250|
|Scarborough Council|–|4,000|
|Woodsmith Foundation|61,165|–|
|UK Shared Prosperity Fund (UKSPF)|25,648|–|
|Marine Management Organisation (MMO)|12,609|–|
||`─────────`|`────────`|
||131,505|83,827|
||`─────────`|`────────`|
|**Charitable activities**|||
|Income from charitable activities|9,808|2,940|
||`───────`|`───────`|
||`─────────`|`────────`|
|**Total income**|141,313|86,767|
||`═════════`|`════════`|
|**Expenditure**|||
|**_Activities undertaken directly_**|||
|Merchandise and cost of sales|7,058|3,948|
|Wages|32,917|–|
|Pension costs|722|–|
|Rent and site hire|7,858|2,015|
|Repairs & maintenance|9,737|5,217|
|Insurance|562|380|
|Planning & development|357|8,248|
|Motor expenses and travel|811|634|
|Professional fees|4,065|–|
|Office costs|1,313|1,078|
|Amortisation|2,327|3,103|
|Depreciation|19,809|18,810|
|Profit on disposal of equipment|(399)|–|
|Consultancy|5,598|29,279|
|Other costs|2,889|2,040|
||`────────`|`────────`|
||95,624|74,752|
||`────────`|`────────`|
|**Governance costs**|||
|Accountancy fees|2,213|60|
|Legal fees|–|500|
|Bank charges|383|131|
||`───────`|`────`|
||2,596|691|
||`───────`|`────`|
||`────────`|`────────`|
|**Total expenditure**|98,220|75,443|
||`════════`|`════════`|
||`────────`|`────────`|
|**Net income**|43,093|11,324|
||`════════`|`════════`|
**22**