2023-04-05-accounts - 90 North Foundation

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Trustees’ Annual Report

Period start date: 06 May 2022 Period end date: 05 April 2023

Charity name: 90 North Foundation

Charity registration number: 1194573

Charity structure: Charitable Incorporated Organisation (CIO)

Date of registration with Charity Commission: 21 May 2021

Principal office: Little Orchard, Bedchester, Shaftesbury, Dorset SP7 0JU, UK

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The object of the Foundation is to promote the conservation of the biodiversity of the Central Arctic Ocean’s (‘CAO’) international waters for the beneft of the Arctic circumpolar peoples’ beneft and the wider global public beneft.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	A - Conducting or commissioning marine wildlife and ecosystem research and promoting the progress and publication of such research. B - Providing educational resources, programmes, and activities to policy- makers, special interest groups, national and international organisations, research groups and universities, and the wider international public. C - Promoting the establishment of marine protected area status (or nearest equivalent) for the international waters of the CAO.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The three trustees on the board of trustees are satisfed the public beneft requirement demanded of 90 North Foundation is met. All trustees are aware of the relevant guidance and are kept informed of any changes by the Charities Commissionby emailed updates.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference

A policy on grant-making was approved by the Foundation’s board for the

Policy on grant making	Para 1.38	awarding of grants for research to be undertaken by the University of Exeter.
Policy on social investment including program related investment	Para 1.38	N/A
Contribution made by volunteers	Para 1.38	We had several volunteers working on projects with only out=of-pocket expenses paid including a videographer, a video editor, FOC work undertaken by Siren Communications on the website, a graphic designer on our Mission Overview document and assistance with our social media.
Other		N/A

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	From April 2022 to April 2023 (Year 2) work continued to be focused on researching the science, issues and stakeholders relating to biodiversity in the CAO in preparation for the Foundation’s public launch in September 2022. A comprehensive and substantial website was designed, developed and publicly launched – approved by the board of trustees. A comprehensive and substantial ‘Mission Overview’ document was designed, drafted and published – approved by the board of trustees. An ofcial logo was designed – approved by the board of trustees. An accountancy practice (Lang Bennetts) and a legal practice (Stephens Scown) were formally engaged. A Memorandum of Understanding regarding a partnership between the University of Exeter and 90 North Foundation was signed – approved by the board of trustees. The framework for the Central Arctic Ocean Research Unit was set up within the University of Exeter and costs were agreed for a range of researchposts.

A Special Advisory Group was set up and its first adviser appointed.

Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:
Achievements against objectives set	Para 1.41	N/A
Performance of fundraising activities against objectives set	Para 1.41	N/A
Investment performance against objectives	Para 1.41	N/A
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The turnover of the Foundation was below £30,000. It remained in credit. It had no outstanding liabilities.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	N/A
Amount of reserves held	Para 1.22	N/A
Reasons for holding zero reserves	Para 1.22	No funding has yet been sought.
Details of fund materially in deficit	Para 1.24	None
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	N/A

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	Private donations by individuals and a soft loan of £26,800 (no security/collateral requested, no interest charges, no repayment timeframe, no liability on the Foundation and/or its trustees to make repayment if the Foundation was unable to makepart/full repayment).
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	The moral risk of not being able to repay the above loan in full within a reasonable timeframe.
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution/Governing Document
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Apart from the frst trustee, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Foundation’s trustees. In selecting individuals for appointment as trustees, the Foundation’s trustees must have regard to the skills, knowledge and experience needed for the efective administration of the CIO.

Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction Para 1.51 and training of trustees statement of accounts. The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any Para 1.51 related parties funding is in place. Other

Policies and procedures adopted for the induction and training of trustees	Para 1.51	The trustees will make available to each new trustee, on or before his or her frst appointment: a copy of the current version of the constitution/governing document; a copy of the Foundation’s latest Trustees Annual Report and statement of accounts.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The Foundation had no employees, staf or workers for the period.
Relationship with any related parties	Para 1.51	The work of Pen Hadow for the period Apr 2022 – Apr 2023 was commissioned by the board of trustees. It is to be invoiced by Hadow’s consultancy, Pen Hadow Consultancy Ltd. The fee is £50,000 plus VAT – the amount was approved by the board of trustees. £30,000 has been paid by the Foundation. The balance when the trustees decide sufcient additional fundingis inplace.
Other

Reference and Administrative details

Charity name	90 North Foundation
Other name the charity uses	N/A
Registered charity number	1194573

Charity’s principal address Little Orchard, Bedchester, Shaftesbury, Dorset SP7 0JU

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
David John Williams	Treasurer	6 Apr 2022 - 5 Apr 2023	Board of trustees
Prof Brendan John Godley		6 Apr 2022 – 5 Apr 2023	Board of trustees
Peter Brenton Hinchlife	Chair	6 Apr 2022 - 5 Apr 2023	Board of trustees

– Corporate trustees names of the directors at the date the report was approved Director name None

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
None

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity

Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

N/A

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

N/A

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s)

Position (eg Secretary, Chair, etc)

Date

90 North Foundation 1184573 Receipts and payments accounts CC16a For the period 06.04.22 05.04.23 To from

Section A Receipts and payments
A1 Receipts Bank movement Bank Interest 3 Loans 2,620 Donations P Hadow - - - 2,623 - - Sub total - Total receipts 2,623 A3 Payments Bank charges 216 Design Services 200 Legal Fees Sundries 78 R Hadow salary Other Professional Fees 45 Travel 829 - Sub total 1,368 - - Sub total - Total payments 1,368 Net of receipts/(payments) 1,255 A5 Transfers between funds - A6 Cash funds last year end 1,011 Cash funds this year end 2,266 Unrestricted funds to the nearest £ *Sub total*(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table)	to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Restricted funds	to the nearest £ Endowment funds	Total funds to the nearest £ - 3 2,620 - - - - - 2,623 - - - 2,623 216 200 - 78 - 45 829 - - 1,368 - - - 1,368 1,255 - 1,011 2,266	Last year to the nearest £
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Section B Statement of assets and liabilities at the end of the period

Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees	Details CAF Bank Account 00034661 CAF Bank Account 00034662 CAF Bank Account 00034663 Details Details Details Details Loan from Trustee Signature *Total cash funds* (agree balances with receipts and payments account(s))	to nearest £ to nearest £ 11 - 5 2,249 - - - 2,266 - OK OK to nearest £ to nearest £ - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - 33246.85 - - - - - Print Name Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Amount due (optional)	to nearest £ Endowment funds
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