REGISTERED CHARITY NUMBEIL" 1194573 TC Group The Old Carriage Wwks R¢*J C(Ynwall Trl IDG
CONTEM OF THE FINANCIAL STATEMENTS R THE YEAR ENDED 5 APRIL 21 Report Of the Trustees Independent E%&nhlner's Rert Statement of FSnaDCl AcllvltleB Statement OfFIn18[ P&sitlo Notes to the Flnandal Statemen18 7 10 Detslled Ststement •)fFlnandal A¢tlvlll¢s
THE PRIL 2024 The thjstees preseni their [¢t with the financial statements of the C?Lty for the year ended 5 April 2024. The trusiees have adopted the pmvisions of Accounting aT Rewrting by CharitLes'. StAtemeni of Recommended Pracii¢¢ uppli¢Jble to charities prepaTing their in aeeordance with the Fin9claI Reporting Stsndard applicable in the UK and Republic of Ircland (FRS 1021 (effethivc l January 2019). oBJEIVEs AND ACTIVITIFS ObJvtlY¢s ODd aln The object of rhe Foundation is promotr the conservation of the biodiversity of Ihe Central Arai¢ Ocean's IEAO,) hL8h region for the FwKfii of the Arciic c¢rcump)lar peoples. benefit and the widerBlobal public. Slgnlfleknt 4ctlvltle8 A- condting i)r commissioning rnarine wi]dllfe and ec05ysiem reseorth and prornotiTI8 the pro8r¢ss 8nd publication of such rtseareh. B - Orwising projects, programw and adiviti¢% thai infomi the k¢y $taknhold¢r wups ond tho Brilish and internaiional public about the issues and solutions fuciTh8 ihe region's biodiversity. C- Ptomotin8 WLenc¢-bd WnservlOn meosures which can underpin the esiablishmeni of a marine prolecied area (or equivaltntl for the hL8h 8ea8 region of the CAO. GranemAkln# A l1¢Y on grani.making WLS Approved by the FoUndlOn,8 board for the awoJding of gronis for [ese9h io be IIDdenaken by the Urtiversity of Exe¢er. Volunteers We hlld niThe Briii%hloverseos volunteers working Wlthin our Spe¢ia] Advisory Group and one volunteer workitt8 on projects with only Oul-of.Fkcf expenses payJbk. The four trustee5 C the board of trus$ are satisfied Ihc public benefit Tequiremertt dernded of North Foundation 1$ meL All tritsiees 8re 2wll of th¢ relevoni guidonce and are kept infomied of any ehonges by the Chllriti&$ Commission by emaileA upknt¢s. ACHIEVEMEFn AND PERFORMANCE Ch8rltabl¢ aci1v1¢S From April 2023-Apftl 2024 {Year 31 WOTk ¢oniinuuJ be rused on resetrehing the science, issues artd S¢Hkeholders rel1ng io biodiversity in the CAO in preparation forthe FoundAtion's public launch in September2022. A compr¢hen5ive and subswiii&l webslte w&4 kept ypdAwl.' and 4 ¢ompreh¢nsiv¢ Ni$sion Overview. dOcurnl was updated. LLtters of Engagement continue to active with ary0Unty p17¢¢ (IAng B¢nDeitsrrc GrowJ> and legal practice (Siephens Scown). A MeMorarum of Understanding regarding a research partncr5hip between the University of Exeter arld North Foundatioll continue5 to be active: &nd the fixmework for the envisaged AtiC Ocean Re5carch Unit w&% set up within the Univernity of Exeler aTKi dixounkdcosrs were offered fora rangeof r&%eorch pos A photographic exhibition about ihe Arciie lkn'$ bi¢xliversity $ts8ed ai s¢v¢r41 int¢rnational wnf¢renvs, A series of keynoie sp*eches were made at InternlOnal confettnces ab)ut the F¢xmdaiion's work. PcKlwt intetview5 were given and promotdResearch w&8 Ut¥Jettsken to develop an effectiv¢ cons¢rYation adv(w strategy. FINANCIAL REVIEW FIDandal posltlon The turnoverof th¢ Fourtdation bElow £150,000. It rematned in cffdit. It had no outsding liabilities.
RT FTHETR HE YEAR ENDED 5 APRIL 2024 FINANCIAL REVIEW Prlnclp81 fvndlng sources Ini80 Ltd rnade donations of £125,Crf)O artd £18,000. Reserves poilcy Jnsuificient funds to d4t4 but it Is planned to ac¢umulate £30.000 resetves as soon Is reasonably possibl¢. Rlsk5 the cbarlty Jrtsufficient fundin8 to undertake the three aTCaS of work at the plann scale. STRUCTURE, GOVERNANCE AND MANAGEMEKT GovernlD% document The chariry is eontrolIed by its Bovernlng documen( a deul of trusi and const1w an unincorp)ratl charity. Cknrlly comtllullon ) North Foundoiion is a ChArirable Jneorry)rateAI Organi541i¢)n JDd 15 gov¢rned by a conslitution. Reernllrn¢n¢ and PIn(Ment ofnew trusttts Ap8rt from the fwst trysie¢, every Intte must be #PPJInt (or 4 tenn of thre¢ year6 by A resolution passul ai a prcwly eonvened m¢¢ting of the Foundatioll's trustCC.S. In selectlng individtJt¢ls for pIntMent Aa trust¢e$. the Foundaiion's Irustees mus¢ have regard the skil]s. knowledge and experien¢¢ needed for the effective adminlstrdtion of the CIO. InducllDn nd lrnlnlng ofnew Irnsle The trustees will make available to new tNsiee, on or Ixfore his or her first apw)intmeni'. a eopy of the cuntni version of the consliwiionlgovernlng do¢um¢nt: 4 copy of the FOut10n's Illtest Trtle¢s ArtnuAI Report tnd statemeni of Accoun. Wlder network The Foundation had no employ¢¢8 on o payrnll. All paid work wos undertaken on y freelance basis by individyals or through Contrted wy services. All work for the period Apr 2023 - Apr 2024 was ¢omrnissioned by the board of truses and deliveredlrnanased by th¢ ¢haTity'S executive director who w&8 puid through P¢n Hodow Consulwn¢y Ltd. REFERENCE AND ADMINRATIvE DETAILS Reglstered Charlty number 1194573 Prlndpal 4ddreBS Little Orchard Bedehestcr 5HAFfsBURY Dorset SP7 OJU Trusle¢s MrD J Williams MrP B Hinchliff¢ Pmfessor B J G(leY TC Group The Old Carriage Works Moresk Road Comwati Trl IDG Page 2
FOR THE YEAR ENDED 5 APRIL 2024 1911112024 ApProvbY orderof the Of¢S IM.............................---- aThJ sig onits beIfby. Mr DJ Wdliams-TnL8t
Eprf EXAMINER'S RE RTTO I report to the mre¢S on my examit)ation of the financial $iements Nonh Fndati<M (the charity) for the year end&1 31 March 2024. R01b1llllesOlld b&si8ofreport A$ the trustecs of the charity {and also its directo for the purposes of COMFWLY law) you oft rtswnsTble for the prepaTrtion of the financial statements in ac¢othce with the requirements of tl Comparties Act 20(J5 2(K)6 Aa). Having satisfied myself that tl financial statelnents of the charity are M)t required to be audited under Pon 16 of the 2(XKfj Act and are eligible for ind¢pendent ¢xamination. l TeFort in resrrtl of my ¢xarnination of the charity's financia] statements c¥Thied out U[er seaion 145 of the Chari¢ies A¢1 2011 (the 201 l Act). In callyin8 Out my ekwnination I have followed a][ thc applicable Directions 8iven by ihe Chariry Commission under Section 145151(b) of the 2011 Ad. Jndependent exarnlDer's statemeD¢ I have completed my examination. I confilrn that no matter5 have corne to Tny attentlon in Contteciion with the examination givtng me cause tobelieveth&t in pny nterIal r¢specL - accounting records were not k¢pt in r¢spect of the ¢harAty os requirryl by section 386 of the 21K)6 Ac¢; or - the fukan¢ial sthtcmcnts do not accord with those records: or - the financial statements do not comply with accounting requirernents of secti(m 396 of the 26 Act other than any requirern¢nr thai the accounts give a tsue and fair view which is T1 a matter considered as part of an IndeJeI examination: or - the fmancial $taments have not been pared in aeeordaTKe with the methcwjs gmd pri1p]eS of the Slement of Recommenda PKa¢iice for accouniing arml rep)rling by ChltieS applicable to - charities preparing their attounts in accordance with the Financial ReFrf)rtin8 Stsndard applicabk irt UK and Republte of brlartd (FRS lff2). I have no concerns 2nd hav¢ ¢¢)m¢ a¢r¢bs no other maue(s in conne¢lion with th¢ ¢xa[ni[l10n to which attention should be drdwn ITh thIsre[ in order toenable a prow understajIng of the finala1 ststements to beTea¢hed TC Grnup The Old Calliag¢ W(¥ks m£eSk Road Truro Cornw1 TRI It Page 4
RTH FFIliA THE YEAR ENDED 5 APRIL 2024 2024 2023 Totsl Unresrricted INCOME AND ENDOWMENTS FROM Donations atKI legacies 143.(KM) vestr1 in 74 143.074 EXPENDTfuRE ON Charftable A¢tivitie5 Ch8ritableAciivities 104524 31599 INCOMFJIEXPENDITURE> 38550 (31 J92) RECONCILIATION OF FUNDS Totsl fvndsbrought fonvard (31.161) 431 TOTAL FUNDS CARRIED FORWARD 7389 (31.161)
S APIUL 2024 )24 Unrestiiaed Tothl fimd CURRENT ASSETS Cash at bk 14242 2266 CREDITOI Amounts fallingdue within year (6,853) (33.427) 7,389 {31.161) TOTAL ASSETS LESS CURRE LIABILTri&s 7389 (31.161) NET SETsY{UABILjT1LS) 7.389 (31.161) 7,389 {31.161) TOTAL FUNDS 7.389 {31.161) The ftnancial stsie¥nents wete aAxot4ed by thE Bo2rd of TnL4ees atyj *utlN)ri5aJ for i&sue 121.1.112024.....-...- wue sig1) its Eth8lf by. MrD J Williarns-Tru#ee
ORTH F
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YEAR ENDED S APRIL 2024 ACCOUNTING POLICITrS Thc fmancAal stsments of the chariry. whh is a TrIC iuefit Clty FILS 101 bav¢ been prepara in cordantt with the Clwities SORP IFRS IW2) 'AccLM]ntin8 a1 RerAKDng by Chariiie&' Skiemeni of Recommended PltIce atry>licabk ¢haritias rKeparin8 their actounts in ac¢(the with the Financial R¢p)rring Standard applicabk in the UK arxl Republic of Ire]oThJ IFRS 102) (efftttive l January 2019),. Financiat R¢tffjing StsTrJaYd 102 Tr FUjal Rew1llig arvlieable in the UK and Republtc of lttland. and the Clwitses Act 2011. Tr statements have ten prepared under the histi)rical Cost convention. Ino)me All tncome is TOlsl in the Statrmert of Fncial A¢ttviiies the ch8xity h&$ erttiijemefjt to the fim(Ls. it is pmbable that th¢ irKome will Lr received the 8nKxJmcan te naSUr reliably. Liabilitie5 a re¢wistiJ &$ ex[1¢ as s) as is a kgal or C4X[uctivt obli8ation mmItt1n8 the hlty to thai expendittut. it is tKobable that a transfcr of ec(mmic TrKnefits will be wuired in settlemeni a>)d the nrtt of the oblL8ation can It reliably. Ext¢nditsI is ¥¢ound for on an accnrals b&sis a[ has be Classified uThJer he&tings thai aggrydtr all c(t relatyl the cagory. WheTf costs cannot ditecdy attribui&l io pmrticular headings they have been athKat tr) activities on a basis cortsistent with the use of Charlthble Adlvl Charitsbk al¥ltI4 I]u& all exEaKlitUteassl with Wtin8 theclwitable wThk UnresttiL be 1n with theclmrithkobiectives atdira1 of th¢ tres. RestTiCLed can be used for [tiCUlar rtstriual pwpxes within thc objects of the clwity. Restrietions ise when stttirl by the dororWn fLtrwJs arerai fly p•niothirtStricd Pur. Further explan1 of the natw¢ cach fund is indu01 iti the ts)tes to the financial $ta¢ernent& 2024 74 continued...
R ThE YEAR ETr4 PRIL 20 Supi costs (see 4) CSts awitabk kniviiies 1012f 3258 104324 SiJPPORT CIM3 Totsls Charitable Acti711¢4 314 3,258 TRUSTEFS. REMUNERATION AT4D BENEFITS There were Irustee5' other benefits f(r the yw 5 AFYil 2024 ncr year ¢nded 5 April 2023. There were no ¢rttes, eXpth ld forthe yearath 5 Arffil 2024 fty the ended 5 April 2023. COMPARATIVLS FOR ThE STATEMEKfoF FINANCIAL ACTIVITIFS INCOME AND ENDOWMENfs FROM Investsneni iKome EXPENDITURE ON Cknrlthbit adlvltlts ChaTithble Auivii¢es 31,59) NET INCOMFJ(EXPENDTfuRE) (31,592) RECONCILIATION OF FUNDS Total funds brought lorw8rd 431 (31.161)
E FINANCIAL TATEME HE YEAR ENDED 5 APRIL 2024 CREDITORS: AMOiJNTS FALLING DUE wrrHIN ONE YEAR 2024 223 OthercTalit( 6.853 33A27 Net mov¢ment in funds At 614r23 514r24 Unrestrleled fvDds General fund (31.161) 38,550 7,389 TOTAL FUNDS {31.161) 38J50 7.389 Net mov¢rnent in fuThJs, Inclu in the above are as follows., Incomin8 Resourceg Cxr¢[Cd Movement in funds Unrutrtcted fundi G¢n¢rul fund 143,074 {104J24) 38JS0 TOTAL FUNDS 143.074 (104,524) 38.550 Compar&llves for rnovement In Net movement In funds At 514r23 At614122 Unrulrfcted funds General fvnd 431 (31 J92) (31,161) 431 (31,5921 (31.161) Comparntive net movement in funds, included in above tr¢ as follows.. IncoTnin8 resources Resources expended Movement in fvnds Unttstrleted tsnds General fwid (31599) (31,592) TOTAL FUNDS (31,599) (31592) Page 9 contiAU•4...
NORTH ATION OR THE ED 5 APRJL MOVEMENf IN FUNDS. eonlithued Acurreni year 12 months 8t prior year 12 nnthS ¢ombined trt)si¢ton is 8$ follows.. Net rnovement in fLEnds At 514ll4 At 614r22 UnrestAcW fwm Getternj fund 431 0.958 7,389 TOTAL FUNDS 431 6.958 7.389 A Cu¢1 Ye 12 monihs and prior year 12 months combirted n¢t n]ov¢m¢nl in funds, included lrt the alKJve 8rc follows.. Incomin8 Res<M]rctt Movement expended kn fundi Unro8lrleled Gener fund 143.081 (136,123) &958 TOTAL FUNDS 143,081 (136.123) 6.958 RELATED PARTY DISCLOSURES A Tntee k)8ned the charity £33206 in the priorye&r. Th1$ ryld in full durin8 the y¢tr. PAge 10
90 HFO R THE YEA IUL 2024 2023 INCOME AND ENDOWMENTS Donatlons legadts Dollations Invtslment irteome Deposit &ccount interest Tothl IntomlD8 Yesour¢es 143.074 ', EXPENDITURE Charttsble actlwltl¢s POse and stationery Adv¢nisin8 Sundries Cornpur running co5 and softw Bntenoinment Exhibition costs Freeler f¢¢5 Hot¢lq Mothting materials design EXUl1ve dtrectorfs fees Travel & 8ub5is(ence 274 12 472, 920 74,5 3512 829 101,266 Support costs Bank ch$ 314 216 GoverDRnce e05ts Accovntancy legal ftts Legal and profes$ion*l fe¢s ProfessionAI ftts 30A76 30.476 To1 re50urc¢$ expKlgJ 104.524 31J99 Net Incomd{exp¢ndlthre} 38550 (31J92) This p8ge does not fomi part of the sthwiory financial statements Page li