## **Trustees’ Annual Report** **Period start date: 06 May 2024 Period end date: 05 April 2025** ## **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’) high seas region for the
benefit of the Arctic circumpolar peoples’ and
the wider global public.| |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
biodiversity/ecosystem research in the context
of vessel-related impacts and promoting the
progress and publication of such research.
B – Organising projects, programmes, and
activities that inform the key stakeholder
groups and the British and international public
about the issues facing the region’s biodiversity
and the solutions.
C - Promoting science-based conservation
measures which can underpin the
establishment of a marine protected area (or
equivalent) for the high seas region 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 four trustees on the board of trustees are
satisfied the public benefit 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 Commission byemailed updates.| **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference |Policy on grant making|Para 1.38|A policy on grant-making was approved by the
Foundation’s board for the 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 nine British/overseas volunteers
working within our Special Advisory Group and
one volunteer working on projects with only
out-of-pocket expenses payable.| |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 2024-April 2025 (Year 4) work
continued to be focused on marine research,
public communications, and policy advocacy.
A comprehensive and substantial website was
kept updated; and a comprehensive ‘Mission
Overview’ document was updated.
Letters of Engagement continued to be active
with accountancy practice (Lang Bennetts/TC
Group) and legal practice (Stephens Scown).
A Memorandum of Understanding regarding a
research partnership between the University of
Exeter and the charity continued to be active,
enabling the university to host the Arctic Ocean
Research Unit.
A new research partnership was established by
legal contract with the UN-affiliated World
Maritime University based in Malmo, Sweden.
The charity commissioned its first UN report
from the WMU, to be published in Autumn
2025. The report's title is: The Arctic Ocean
Region: Biodiversity, Governance & Protective
Measures. Its conclusions will inform which
specific, UN-approved, protective measures
may be appropriate to advance through the
International Maritime Organization and/or the
envisaged UN High Seas Treaty.| A corporate partnership with vessel-monitoring service, Concirrus, involving supply of data enabled initial research and scoping to begin on the development of an improved Arctic Ocean Vessel Monitoring & Reporting service. A public education docu-short film (15 minutes) was made, titled _Out Stack!_ which explains the proximity of the UK to the Arctic and therefore the relevance to Britain of Arctic Ocean issues and solutions. A series of keynote speeches were made at national and international conferences about the charity's work and advancing its policy solution for the protection of the CAO's biodiversity. Podcast interviews were given and promoted; and the frequency of social media posts was increased. A regular column was agreed, and written, for international magazine, _Oceanographic._ Relationships were established with substantial ocean-interested grant-awarding bodies in the US and Europe, and grant applications were made. ## **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
approximately £223,000. It remained in credit.
It had no outstandingliabilities.| |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|Insufficient funds to date, but it is planned to
accumulate £30,000 reserves as soon as
reasonably possible.| |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|The charity operates in a highly specialist field
geographically and is focused on securing
global public benefits. This severely limits
sources of funding. It continues to be
dependent on grants from UK and international
awardingbodies and corporate donations.| |**Additional information (optional)**
You may choose to include further statements|**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|Inigo Ltd made donations totalling £190,000.
The Fishmongers Company's 'Fisheries
Charitable Trust' granted £25,000.| |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|Insufficient funding to undertake the three
areas of work at the planned scale.| |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 first 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 effective administration of the
CIO.| |**Additional information (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:| |---|---|---| |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 first
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 on a
payroll. All paid work was undertaken on a
freelance basis by individuals or through
contracted agency services. All work for the
period Apr 2024 – Apr 2025 was commissioned
by the board of trustees and
delivered/managed by the charity’s executive
director who was paid through Pen Hadow
ConsultancyLtd.| |Relationship with any
related parties|Para 1.51|n/a| |Other||| ## **Reference and Administrative details** |Charityname|90 North Foundation| |---|---| |Other name the charityuses|N/A| |Registered charitynumber|1194573| Charity’s principal address Little Orchard, Bedchester, Shaftesbury, Dorset SP7 0JU **Names of the charity trustees who manage the charity** |1
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20|**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||Board of trustees| ||Prof Brendan John
Godley|||Board of trustees| ||Peter Brenton
Hinchliffe|Chair||Board of trustees| ||Elaine Hayes||From 28 Oct 2024|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** Company registration number: CE025762 Charity fe9istration nutnber.. 1194573 90 NORTH FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 One Plus One Ltd 34136 Fore street PKJvey Tracey Devon TQ13 9AE 90 North Foundation Contents Pag• Trustees. Report Independent Exèminer's Re￿rt statement of Flnancial Activities Ilncludin9 Income and expenditure Ac£ount) lance Sheet Notes ￿ the Financlal Statements 8-10 The Following pa9e5 do not form part of the stsiutory accourts.. Detalled Statement of FlnancSal Attlvltles Ilndudlng Income and Expenditure Account) 90 North Foundation Company No. CE025762 Trustees. Report For The Year Ended 5 AprÈl 2025 The trustees present their report and the financwl statements for the year • 5 April 2025. O)Jectlves and Actlvltles Alm$ and ObJectl¥e$ The object of the Foundatlon 15 to pror￿te the ry)nserVati(￿ of the biodiversity of the Central Arctic Ocean's ICAO) hSgh seas region for the benefit of the Arctic ¢ircumrn)lar twples. t￿orIt and Ih@ wider global public. Slgnlflcat)t Actlvltles al Conducting or comrnissioning rnarinebiodiversityleojsystem research In the context of vessel.related irnpacts and promoting the progress and wbllcatlon of such research. bl Organislng projetts. programmes and acDwit*s that inform the key stakeholder group5 Jnd the 8rlti5h ond intemational publlc about the Issues facing the region's biodiversity and the solutions. cl Promoting science-based conservation measu￿$ which can underpin the establishment of a marine protected area lor equivalentl For the hlgh seas reglon OF the CAO. Grantmaklng A policy on grant-m3king was approved by the Foundation's board for the awarding of grants for research to be undertaken by tlie University of Exeter. Volunteer$ WÈ had nlne British/overseas volunteers worklt)g withln our Specjal Advisory Group and one volunteer worklng on proletts with only out of pocket expenses payable. The four trustees on the board of trustees are satfjsfled the wtAtc beneht wulrement demanded of 90 North Foundatlon is met. A11 tnlstees are awart of the ￿levant guldano •nd are kept INft*m*d of any changes by the Charfjtyes Commls$lon by ernailed updates. Achlevements and Performance Maln Achlevements From Aprll 2024-Awil 202S (Year 4) work contlnued to be focused on matlne research, public communlcatlons, and pollcy advocacy. A comprehenslve arsd substantial vRbsite was kept upJated.' Jn¢l a comprehensive 'Mission Overvlew. do¢urnent w)s updated. Letter5 of Erigagement contlnL*d to be attlve wlth accountancy pract*e (Long Bennettsrrc Group) and legal practlce Istephens Scownl. A Mernorandum of Understsndlno regaldlng a ￿yth partnership between the Ursiverslty of Exe¢er and the chgrlty tontinued to be active. enabling the vrsiversity to host the Arctic Ocean Research Unit. A new resÈarth pèrtnwship wa5 e5tablishtd by legal contract with the UN-affiliated World Marltime Unlverslty based In Malmo, Sweden. The charlty commisstoned Its first UN rep)rt from the WMU. to be published in Autumn 2025. The report, title is,. The Arctic Ocean Re9ion'. Biodiversity. Govemance & Protettive Measures. Its ¢￿(luSIonS will Inform which 5peclfic, UN-approved, protective measures may be aFvopriate to advance thmugh the Intematlonal Madtlme Oryanizarion andltrr the envlsaged UN Hlgh Seas Treaty. A corporate partnership wlth vessel-rnoTritorlng seThice. Condmjs. Involvlng suA)ly of data enabled Inltlal researth and scoping to begin on the developrnent of an brnproved Arctic Ocean Vessel Monitoring & Kepotting servlce. A public education docu-short filrn 115 minutesl was made. titled Out Stackl whth expL41Trs the proxlmlty OF the UK to the Arctic and therefore the relevance to Britain of Arctlc Ocean Issues and solutsons. A sene5 of keynote speeches were made at national and international c0Trferer￿ts at(sut the charity's work ènd advancing its policy solution for the protettion of the CAO'S b￿diverSIty. Podcast Interviews were given anil pnHnoted.' and the frequency of soclal rnedla ￿4)sts was Increased. A regular column was agreed, and written, for International magazifie. Oceanographic. Relationships vjere ￿tablished with substanbal ocean-lnte￿5t8j 9rant-awardtng bod*s in the US and Europe. and grant applications were tnade. Page I 90 North Foundation Trustees, Report (continued) For The Year Ended 5 April 2025 Financlal Revlew Financial Position The turnover of the Foundation was below approximately £223.000. It remair*d in credit. It had fio outstanding liabilities. Jnigo Ltd made iJonation5 totalling E190,000. The Fishmongers Company's'Fishenes Chantaue Tnjsv gtsnted £25,000. Golng Concern The charity operate5 in a highly skwa115t field geographically and is focused on securing global public benefits. Thls Seve￿1¥ limits sour￿5 of funding. It continue5 to be dependent on grants from UK and intemational awardlng bodies and corporate donat¢on5. Rlsks faclrty the th•rlty Insufficlent fundlng ro undertake the three areas of work at the Plann￿ scale. structure Gov•rnan¢e ond Manè¥ement Gov•rnlng Document Go¥ernlng document The charity is controlled by goveming dcrtument. ) deed of rru$t and constitutes an unlncorporated charlty. Chjrlty constltutlon 90 North Foundation is a Charitable Incorporated 0ryan1sat￿)n and Is governed by a constibjtlon. Trustee Seleetlon Mtth•ds Recrultment ènd appolntment of new trustees Apart from the first trustee, every trustee must be appjnted for a terrn of three years by a resolutlon pased at a properly convened meetlng ol the Foundation's trustees. In selecting Individuals for ap￿intMent as trustees. the Foundatlon's trustees must have regard to the skllls, knowledge and experlence needed for the effective administrntion of the CIO. Inductlon and tralnlng of new trustees The trustees will make available to each tntstee, on or befo￿ hls or her first a￿Intment.. a copy of the current version of the constifutionlgoveming docyrT*nt.' a ¢opy of the Foundation's latest Trustees Annual Report and statement of ccounts. Wld*r network The Foundation had no etnployee5 on a payroll. All paid w£¥k wa5 uDdertaken on a freelan￿ basis by Indlviduals or through contracted 4gency 5ervice5. All svork lor the penod April 2024 - April 2025 was tommis5ioned by the board of trustees and deliveredlmana9ed by the chanty's executive director ¥vho was pawj throu9h Pen Hadov• Consultancy Ltd. Referenc• and Admln55tratlve Detalls Trustees Mr Peter Hinchliffe Mrs ElainÉ Haye5 lappoiTrted 28110120241 Professor Brendan Godley (resigned 07107120251 Mr David Williams Professor Helen Findlay lappotnted 13110120251 Mr Ne11 Roberts (appointed 07107120251 Charity Number 1194573 Company Nkbmber CE025762 Page 2 90 North Foundation Trustees. Report (continued) For The Year Ended 5 April 2025 Principal Address Little Orchard Bedchester Shaftsbury Dorset SP7 OJU Independent Examlner Niss S Rogers CA One Plus One Ltd 34136 Fore Street Bovey Tracey Devon TQ13 9AE Page 3 90 North Foundatlon Trustees. Report (continued) For The Year Ended 5 April 2025 Small Ctsmpany Rules This report has been prepared in accordance witb the sFec¢al provisions rdating to companie5 subject to the Small cotnpanies regime within Part 15 of the Cotnpanie5 Art 2(X)6. The trustee5' report was approved by the tr>Jard of trnstees and styned on its behalf by.. Mr David Wlll. m$ Trustee 9 March 2026 Page 4 90 North Foundation Independent Examiner's Report to the Trustees of 90 North Foundation For The Year Ended S April 2025 I report to the charity trustees on rny examination of the accounts of the Cornpally for the Year eNYed 5 April 2025. Responsibilities antl Basis of Report As the charity trustee5 of the Company land alsa it5 directors ft>r the purw>ses of company lawl. you are respDnSible for the preparation of the accounts in accordance with the requirements of the Cornpanie5 Art 2Tr)6 (Yie 2006 Art"). Having satlsfied myself that the accounts of the ComparTry are not requir￿ ro be audited under Part 16 of the 2006 Acr and are eligible for independent exaFnination, I retK)rt Itb re5pert of my exarnination OF your charity'5 accounts a5 carned out under section 145 of the Chanties Art 2011 I'the 2011 Act'l. In carrylng out my examination I have followed the Direttions given by the Chanty conimissi￿ under section 14SI51 Ibl of the 2011 Art. Independent ExamSnerfs Statemert I have completed my examination. I confim) that no matters have come w my attentlon in connectlon wlth the examlnatlon glvlng me cause to believe.. 1. accounting records were not kept in ￿pect of the Company as wuired by sec14on 386 of the 2006 Act., tsr 2. the accounts do not accord wlth those records.. or 3. the accounts dc not cornply with the accounting requirements of sectioTh 396 of the 2006 Act other than any requirefflent that the ècrount5 give a 'lrue and fjir v￿w, whKh is r￿t a matter con$sdered as of an Iridependent examination. or 4. the ateounts have not been prepa￿1 In a¢cord)nce with the method$ and principles of the Statement of Recommended Practice for accountin9 and reportSng ￿ charit*5 applicable to charltie5 preparlng thelr accounts In accordance with the Financiol Reportlng Stondofll opphcoble in the UK ond Republic of Ireland IFRS 1021. I have no concerns and have come aeross no Ot￿er matt•s IA tonnectlon wlth the examlnation to vrfhlth attention Should be drnwn In this ￿pOrt In order to enable a proper understandlng of the accounts to be reached. MISS S Rogers 9 March 2026 34136 Fore Street Bovey Tracey Devon TQ13 9AE Page 5 90 North Foundation Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 5 April 2025 2025 Total funds 2024 Unrestrlcted funds UnrestrÉcted Restricted funds funds Notes INCOME A14D ENDOWMENTS FROM: Oonarions and leoacies Investrnents 197,761 151 25,000 222,761 151 143.000 74 197.912 25.000 222,912 143.074 ExpffND￿URE ON: Raisiiig funds Charltable activitie5'. 1150.5941 125,0001 1175,5941 1104,5241 NET INCOME 47,318 47,318 38,550 NET MOVEMENT IN FUfrIDS RECONCILIATION OF FUNDS: Total funds brought forward 47,318 47.318 38.55D 7.389 7.389 131.1611 TOTAL FUNDS cAR￿e0 FORWARD io 54,707 54,707 7.389 The nore$ on pages 8 to 10 form port of these hnonual ststements. Page 6 90 North Foundation Balance Sheet As At 5 April 2025 2025 2024 Unrestricted Restrirted fund$ fund$ Total funds Total fund¥ CURRENT AssErs Cash tt bank and In hand 56.977 56.977 14.242 56,977 56,977 14,242 Credltors: Amounts Falllng Due Wlthln Othe Ye4r 12,2701 12,2701 16,8531 NET CURRENT ASSETS ILTABILfrIES) 54,707 54,707 7,389 TOTAL ASSETS LESS CURRENT LIABILITIES $4,707 S4.707 7,389 NET ASSETS 54,707 54.707 7,389 FUNDS OF THE CHARITY Unrestricted Funds 54,707 7,389 TOTAL FUNDS io 54,707 7,389 For the year ending 5 April 2025 the charitsble company was en￿lled to ememptyon from audlt under sectlon 477 of the Companles Act 2006 relatjng to small companies. The members have not requlred the ¢h)rir•ble compafiy to obt•lh •n •LrtiIt lrt )¢¢•rd•n¢e with $ethon 476 of the CompanSes Act 2006. The trustees acknowledge thelr responslbllllies for complying wlth the reoulrernents of the Act wlth respect to accountlng records and the preparation of accoullts. These accounts have bEen prepjred lfi accorthnce wSlh the prov65knns oppllcable to cornpan￿ subjett to the small companles re9lme. On behalf of the btsard Mr David Williams Trustee g March 2026 The notes on pages 8 to 10 form part of these finaociol staternents. Page ? 90 North Foundation Notes to the Financial Statements For The Year Ended S April 2025 l. General Inlormation 90 North Foundation 15 a Charitable lTrtorrKxèted OryanisatKJn. Incorpordted in England & W6le5, rrfisteTed number CE025762 and reglstÈred chartty 1194573. 2. Accounting Policies 2.1. Basis of Preparatlon of Flnanclal St*tements The financlal ststements have been prepared In accordan￿ with the Charitie5 SORP IFRS 1021 "Accountlng and Reporting by Charities-. Staternent of Recornmended Pr4ttl￿ applicable to chanties preparing their accounts in ccordance with the Financial Reporbng sta[￿ard apklicable In the UK and Repuwic of Ireland IFRS 1021 lefftrctlVÈ L January 20191" Financial Rewrtin9 StaThJard 102 "The Financial Reporbng Standard applicable In the UK and Republic of Ireland. and the CompanE5 Art 2006. The charitable cornpany 15 o Publlc knefit Entity Js defin*l by FRS 102. 2.2. Incoming Regources All income is recognised In the Statement of Financial Activifies once the charity has entl￿ement to the fvnds. it Is probable that the income will be received and the an￿uTh1 caTr ￿ rneasure(J reliabty. 2.3. Resources Expende Liabilities are reco9nised as expenditure as soon 05 there is a legal or COnstn￿ri￿e obllgatbn cotnmitting the charity tp that expenditure, It is probable that a trnr15fer of economic benefits will be required in 5ettleffletit atid the amount of the obli9ation ean be rneasured reliabily. Expenditure ￿ accounted for on an accruals basis and has been classlfied under headings that aggregate all cost related to the category. Whwe costs cannoi be directly attributed to partlcular headin9S they have been albv¢aied to activit￿ on a ba&s conststenl Wlth the use of re50ur¢es. 2.4. Cash Dnd Caoh Equlvol•nts Cash and eash equivalents ao basic financial assets and Include cash In hand and deposits held at call witli banks, other short-rem hlghly liould Invesvnents that rnatu￿ in no more than th￿ mont#s from the date of acqulsltlon and •re readily ¢onvertibSe to 8 known anY)unt of cash wlth lnsl9nifi￿nt r15k OF chafi¢￿ in vblue. and bank overdrafts. 2.S. Tamatlon The charity Is exempt from tax as all Its Incor￿ Is charftable and applled for Cha￿tatsIe purposes. 2.6. Government Grant Government grants are recognised In the sta¢emeTrt of financlal actlvltyts In an opproprtate manner that matches them with the expendlture towar£ts which they are Intended to contribute. Grants for Immedlate flnancial support w to cover costs already iThtur￿￿ a￿ recognlsed immediately In the ststement of flnancial activities. Grat)ts towards general artlvities of the entity over a speclfic period are recognlsed In the statement of flnanclal activities over that period. Grants towar(Js fixed assets are reCOgn￿ed over the eX￿tel useful Ilves of the related assets and are treated as deferred incotne and released to the stètement of financial activities over the useful Ilfe of the asset concemed. All grjrits In the ststement of fin4fi¢1o1 Jtti¥ities are iec¢gnised when all conditlons for receipt have been cofflplied wlth. 3. Zncom• Irom Donatlon8 and Le9acles 2025 Unrestrlcted Restrtcted Total funds funds funds Donations and gifts Grants 197,761 197.761 25,000 25,(K)O 197.f61 25.000 222,761 Page 8 90 North Foundation Notes to the Financial Statement5 (continued) For The Year Ended 5 April 2025 2024 Unrestricted Restricted Total funds funds funds Donations and gift5 Grant5 143,000 143,000 143,000 143,000 4. Investment Ineome 2025 2024 Unrestrltted Unr*strlcted f￿ndS funds Bank inteost recelvable 151 74 5. Analysls of Expendltur• 2025 Support costs 15ee iiote 61 Raisino funds 175,$94 2024 Support Costs lstt note 61 Ral$ing fvnds 104,524 6. Support Costs 2025 Ralslng funds General admlnlstratton Interest payab Govemance costs 172,714 255 2,625 175,594 90 North Foundation Notes to the Financial Statements (continued) For The Year Ended 5 April 2025 2024 RalsTrng funds GetTrÈral administration Inte￿$t payable Govemance costs LOI,266 314 2,944 104,524 7. Av•rage Number of Employees Average number of employees during the year was: NIL12024: 1 8. Cr•dltors: Amounts F•llln9 Due Wlthln One Y*•r 2025 2014 Other credltors 2,270 6,853 10. Mtsvernent In Fund* As at 6 Aprll 2024 A• at 5 Aprll 2025 Incom• Expendltur• Unrestrlcted fund5 General.. General unrestricted Fund Restrlcted funds Fishmongers, Company's Flsherles cha￿table Trust 7,389 197,912 1150.5941 S4,707 25,( 125.0001 Tot•1 funds 7.389 222,912 1175,5941 54,707 As at 6 Aprll 3023 As at 5 Aprll 2024 Ineome Expendlturn Unrèstrlrt*d fund General.. General unrestrlcted fund 131,161) 143.074 1104.5241 7,389 TotJl tunds {31.1611 143.074 1104.5241 7,389 11. TransactSons wlth Trustees No trustee expenses have been incurred. 12. Related Party Dls¢105ures There have been no related party transactions in the ￿portir￿ pwK)d that require dod05ure. (Ir* the previous year a trustee was repaid a loan in full which was lent in the year to 20231 Pa9e io 90 North Foundation Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 5 April 2025 2025 2024 Total fund$ Total funds INCOME AND ENDOWMENTS FROM: Donations and legacles Donation5 and gifts Grants 197.761 25,000 143,000 222,761 143,000 Investments Bank Interest receivable 151 74 151 74 222,912 143,074 EXPENDITURE ON.. Ra151ng funds Computer soft¥Yère, consumables and maintenance Prlntlngi Postage and statlonery Advertlsing and markeiing costs 16831 12741 11181 114,4091 19201 1611 ii.iooi 1161 Other marketin9 Costs Professional lees Subscriptions Entertsinlno Sundry expenses F￿elanCer fees Executive director's fee5 Travel & subsist•nc• Hotels Bank charyes Accountancy fees Legal fees 152.3711 12,4361 1841 1901 16,2041 174,5001 13,5121 14721 13141 11,0001 11,9441 136.5431 {79,1651 11.0211 12551 12,6251 1175,5941 1104,5241 1175,5941 1104,5241 NET INCOME 47,318 38.550 Page 11 Company registration number: CE025762 Charity fe9istration nutnber.. 1194573 90 NORTH FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 One Plus One Ltd 34136 Fore street PKJvey Tracey Devon TQ13 9AE 90 North Foundation Contents Pag• Trustees. Report Independent Exèminer's Re￿rt statement of Flnancial Activities Ilncludin9 Income and expenditure Ac£ount) lance Sheet Notes ￿ the Financlal Statements 8-10 The Following pa9e5 do not form part of the stsiutory accourts.. Detalled Statement of FlnancSal Attlvltles Ilndudlng Income and Expenditure Account) 90 North Foundation Company No. CE025762 Trustees. Report For The Year Ended 5 AprÈl 2025 The trustees present their report and the financwl statements for the year • 5 April 2025. O)Jectlves and Actlvltles Alm$ and ObJectl¥e$ The object of the Foundatlon 15 to pror￿te the ry)nserVati(￿ of the biodiversity of the Central Arctic Ocean's ICAO) hSgh seas region for the benefit of the Arctic ¢ircumrn)lar twples. t￿orIt and Ih@ wider global public. Slgnlflcat)t Actlvltles al Conducting or comrnissioning rnarinebiodiversityleojsystem research In the context of vessel.related irnpacts and promoting the progress and wbllcatlon of such research. bl Organislng projetts. programmes and acDwit*s that inform the key stakeholder group5 Jnd the 8rlti5h ond intemational publlc about the Issues facing the region's biodiversity and the solutions. cl Promoting science-based conservation measu￿$ which can underpin the establishment of a marine protected area lor equivalentl For the hlgh seas reglon OF the CAO. Grantmaklng A policy on grant-m3king was approved by the Foundation's board for the awarding of grants for research to be undertaken by tlie University of Exeter. Volunteer$ WÈ had nlne British/overseas volunteers worklt)g withln our Specjal Advisory Group and one volunteer worklng on proletts with only out of pocket expenses payable. The four trustees on the board of trustees are satfjsfled the wtAtc beneht wulrement demanded of 90 North Foundatlon is met. A11 tnlstees are awart of the ￿levant guldano •nd are kept INft*m*d of any changes by the Charfjtyes Commls$lon by ernailed updates. Achlevements and Performance Maln Achlevements From Aprll 2024-Awil 202S (Year 4) work contlnued to be focused on matlne research, public communlcatlons, and pollcy advocacy. A comprehenslve arsd substantial vRbsite was kept upJated.' Jn¢l a comprehensive 'Mission Overvlew. do¢urnent w)s updated. Letter5 of Erigagement contlnL*d to be attlve wlth accountancy pract*e (Long Bennettsrrc Group) and legal practlce Istephens Scownl. A Mernorandum of Understsndlno regaldlng a ￿yth partnership between the Ursiverslty of Exe¢er and the chgrlty tontinued to be active. enabling the vrsiversity to host the Arctic Ocean Research Unit. A new resÈarth pèrtnwship wa5 e5tablishtd by legal contract with the UN-affiliated World Marltime Unlverslty based In Malmo, Sweden. The charlty commisstoned Its first UN rep)rt from the WMU. to be published in Autumn 2025. The report, title is,. The Arctic Ocean Re9ion'. Biodiversity. Govemance & Protettive Measures. Its ¢￿(luSIonS will Inform which 5peclfic, UN-approved, protective measures may be aFvopriate to advance thmugh the Intematlonal Madtlme Oryanizarion andltrr the envlsaged UN Hlgh Seas Treaty. A corporate partnership wlth vessel-rnoTritorlng seThice. Condmjs. Involvlng suA)ly of data enabled Inltlal researth and scoping to begin on the developrnent of an brnproved Arctic Ocean Vessel Monitoring & Kepotting servlce. A public education docu-short filrn 115 minutesl was made. titled Out Stackl whth expL41Trs the proxlmlty OF the UK to the Arctic and therefore the relevance to Britain of Arctlc Ocean Issues and solutsons. A sene5 of keynote speeches were made at national and international c0Trferer￿ts at(sut the charity's work ènd advancing its policy solution for the protettion of the CAO'S b￿diverSIty. Podcast Interviews were given anil pnHnoted.' and the frequency of soclal rnedla ￿4)sts was Increased. A regular column was agreed, and written, for International magazifie. Oceanographic. Relationships vjere ￿tablished with substanbal ocean-lnte￿5t8j 9rant-awardtng bod*s in the US and Europe. and grant applications were tnade. Page I 90 North Foundation Trustees, Report (continued) For The Year Ended 5 April 2025 Financlal Revlew Financial Position The turnover of the Foundation was below approximately £223.000. It remair*d in credit. It had fio outstanding liabilities. Jnigo Ltd made iJonation5 totalling E190,000. The Fishmongers Company's'Fishenes Chantaue Tnjsv gtsnted £25,000. Golng Concern The charity operate5 in a highly skwa115t field geographically and is focused on securing global public benefits. Thls Seve￿1¥ limits sour￿5 of funding. It continue5 to be dependent on grants from UK and intemational awardlng bodies and corporate donat¢on5. Rlsks faclrty the th•rlty Insufficlent fundlng ro undertake the three areas of work at the Plann￿ scale. structure Gov•rnan¢e ond Manè¥ement Gov•rnlng Document Go¥ernlng document The charity is controlled by goveming dcrtument. ) deed of rru$t and constitutes an unlncorporated charlty. Chjrlty constltutlon 90 North Foundation is a Charitable Incorporated 0ryan1sat￿)n and Is governed by a constibjtlon. Trustee Seleetlon Mtth•ds Recrultment ènd appolntment of new trustees Apart from the first trustee, every trustee must be appjnted for a terrn of three years by a resolutlon pased at a properly convened meetlng ol the Foundation's trustees. In selecting Individuals for ap￿intMent as trustees. the Foundatlon's trustees must have regard to the skllls, knowledge and experlence needed for the effective administrntion of the CIO. Inductlon and tralnlng of new trustees The trustees will make available to each tntstee, on or befo￿ hls or her first a￿Intment.. a copy of the current version of the constifutionlgoveming docyrT*nt.' a ¢opy of the Foundation's latest Trustees Annual Report and statement of ccounts. Wld*r network The Foundation had no etnployee5 on a payroll. All paid w£¥k wa5 uDdertaken on a freelan￿ basis by Indlviduals or through contracted 4gency 5ervice5. All svork lor the penod April 2024 - April 2025 was tommis5ioned by the board of trustees and deliveredlmana9ed by the chanty's executive director ¥vho was pawj throu9h Pen Hadov• Consultancy Ltd. Referenc• and Admln55tratlve Detalls Trustees Mr Peter Hinchliffe Mrs ElainÉ Haye5 lappoiTrted 28110120241 Professor Brendan Godley (resigned 07107120251 Mr David Williams Professor Helen Findlay lappotnted 13110120251 Mr Ne11 Roberts (appointed 07107120251 Charity Number 1194573 Company Nkbmber CE025762 Page 2 90 North Foundation Trustees. Report (continued) For The Year Ended 5 April 2025 Principal Address Little Orchard Bedchester Shaftsbury Dorset SP7 OJU Independent Examlner Niss S Rogers CA One Plus One Ltd 34136 Fore Street Bovey Tracey Devon TQ13 9AE Page 3 90 North Foundatlon Trustees. Report (continued) For The Year Ended 5 April 2025 Small Ctsmpany Rules This report has been prepared in accordance witb the sFec¢al provisions rdating to companie5 subject to the Small cotnpanies regime within Part 15 of the Cotnpanie5 Art 2(X)6. The trustee5' report was approved by the tr>Jard of trnstees and styned on its behalf by.. Mr David Wlll. m$ Trustee 9 March 2026 Page 4 90 North Foundation Independent Examiner's Report to the Trustees of 90 North Foundation For The Year Ended S April 2025 I report to the charity trustees on rny examination of the accounts of the Cornpally for the Year eNYed 5 April 2025. Responsibilities antl Basis of Report As the charity trustee5 of the Company land alsa it5 directors ft>r the purw>ses of company lawl. you are respDnSible for the preparation of the accounts in accordance with the requirements of the Cornpanie5 Art 2Tr)6 (Yie 2006 Art"). Having satlsfied myself that the accounts of the ComparTry are not requir￿ ro be audited under Part 16 of the 2006 Acr and are eligible for independent exaFnination, I retK)rt Itb re5pert of my exarnination OF your charity'5 accounts a5 carned out under section 145 of the Chanties Art 2011 I'the 2011 Act'l. In carrylng out my examination I have followed the Direttions given by the Chanty conimissi￿ under section 14SI51 Ibl of the 2011 Art. Independent ExamSnerfs Statemert I have completed my examination. I confim) that no matters have come w my attentlon in connectlon wlth the examlnatlon glvlng me cause to believe.. 1. accounting records were not kept in ￿pect of the Company as wuired by sec14on 386 of the 2006 Act., tsr 2. the accounts do not accord wlth those records.. or 3. the accounts dc not cornply with the accounting requirements of sectioTh 396 of the 2006 Act other than any requirefflent that the ècrount5 give a 'lrue and fjir v￿w, whKh is r￿t a matter con$sdered as of an Iridependent examination. or 4. the ateounts have not been prepa￿1 In a¢cord)nce with the method$ and principles of the Statement of Recommended Practice for accountin9 and reportSng ￿ charit*5 applicable to charltie5 preparlng thelr accounts In accordance with the Financiol Reportlng Stondofll opphcoble in the UK ond Republic of Ireland IFRS 1021. I have no concerns and have come aeross no Ot￿er matt•s IA tonnectlon wlth the examlnation to vrfhlth attention Should be drnwn In this ￿pOrt In order to enable a proper understandlng of the accounts to be reached. MISS S Rogers 9 March 2026 34136 Fore Street Bovey Tracey Devon TQ13 9AE Page 5 90 North Foundation Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 5 April 2025 2025 Total funds 2024 Unrestrlcted funds UnrestrÉcted Restricted funds funds Notes INCOME A14D ENDOWMENTS FROM: Oonarions and leoacies Investrnents 197,761 151 25,000 222,761 151 143.000 74 197.912 25.000 222,912 143.074 ExpffND￿URE ON: Raisiiig funds Charltable activitie5'. 1150.5941 125,0001 1175,5941 1104,5241 NET INCOME 47,318 47,318 38,550 NET MOVEMENT IN FUfrIDS RECONCILIATION OF FUNDS: Total funds brought forward 47,318 47.318 38.55D 7.389 7.389 131.1611 TOTAL FUNDS cAR￿e0 FORWARD io 54,707 54,707 7.389 The nore$ on pages 8 to 10 form port of these hnonual ststements. Page 6 90 North Foundation Balance Sheet As At 5 April 2025 2025 2024 Unrestricted Restrirted fund$ fund$ Total funds Total fund¥ CURRENT AssErs Cash tt bank and In hand 56.977 56.977 14.242 56,977 56,977 14,242 Credltors: Amounts Falllng Due Wlthln Othe Ye4r 12,2701 12,2701 16,8531 NET CURRENT ASSETS ILTABILfrIES) 54,707 54,707 7,389 TOTAL ASSETS LESS CURRENT LIABILITIES $4,707 S4.707 7,389 NET ASSETS 54,707 54.707 7,389 FUNDS OF THE CHARITY Unrestricted Funds 54,707 7,389 TOTAL FUNDS io 54,707 7,389 For the year ending 5 April 2025 the charitsble company was en￿lled to ememptyon from audlt under sectlon 477 of the Companles Act 2006 relatjng to small companies. The members have not requlred the ¢h)rir•ble compafiy to obt•lh •n •LrtiIt lrt )¢¢•rd•n¢e with $ethon 476 of the CompanSes Act 2006. The trustees acknowledge thelr responslbllllies for complying wlth the reoulrernents of the Act wlth respect to accountlng records and the preparation of accoullts. These accounts have bEen prepjred lfi accorthnce wSlh the prov65knns oppllcable to cornpan￿ subjett to the small companles re9lme. On behalf of the btsard Mr David Williams Trustee g March 2026 The notes on pages 8 to 10 form part of these finaociol staternents. Page ? 90 North Foundation Notes to the Financial Statements For The Year Ended S April 2025 l. General Inlormation 90 North Foundation 15 a Charitable lTrtorrKxèted OryanisatKJn. Incorpordted in England & W6le5, rrfisteTed number CE025762 and reglstÈred chartty 1194573. 2. Accounting Policies 2.1. Basis of Preparatlon of Flnanclal St*tements The financlal ststements have been prepared In accordan￿ with the Charitie5 SORP IFRS 1021 "Accountlng and Reporting by Charities-. Staternent of Recornmended Pr4ttl￿ applicable to chanties preparing their accounts in ccordance with the Financial Reporbng sta[￿ard apklicable In the UK and Repuwic of Ireland IFRS 1021 lefftrctlVÈ L January 20191" Financial Rewrtin9 StaThJard 102 "The Financial Reporbng Standard applicable In the UK and Republic of Ireland. and the CompanE5 Art 2006. The charitable cornpany 15 o Publlc knefit Entity Js defin*l by FRS 102. 2.2. Incoming Regources All income is recognised In the Statement of Financial Activifies once the charity has entl￿ement to the fvnds. it Is probable that the income will be received and the an￿uTh1 caTr ￿ rneasure(J reliabty. 2.3. Resources Expende Liabilities are reco9nised as expenditure as soon 05 there is a legal or COnstn￿ri￿e obllgatbn cotnmitting the charity tp that expenditure, It is probable that a trnr15fer of economic benefits will be required in 5ettleffletit atid the amount of the obli9ation ean be rneasured reliabily. Expenditure ￿ accounted for on an accruals basis and has been classlfied under headings that aggregate all cost related to the category. Whwe costs cannoi be directly attributed to partlcular headin9S they have been albv¢aied to activit￿ on a ba&s conststenl Wlth the use of re50ur¢es. 2.4. Cash Dnd Caoh Equlvol•nts Cash and eash equivalents ao basic financial assets and Include cash In hand and deposits held at call witli banks, other short-rem hlghly liould Invesvnents that rnatu￿ in no more than th￿ mont#s from the date of acqulsltlon and •re readily ¢onvertibSe to 8 known anY)unt of cash wlth lnsl9nifi￿nt r15k OF chafi¢￿ in vblue. and bank overdrafts. 2.S. Tamatlon The charity Is exempt from tax as all Its Incor￿ Is charftable and applled for Cha￿tatsIe purposes. 2.6. Government Grant Government grants are recognised In the sta¢emeTrt of financlal actlvltyts In an opproprtate manner that matches them with the expendlture towar£ts which they are Intended to contribute. Grants for Immedlate flnancial support w to cover costs already iThtur￿￿ a￿ recognlsed immediately In the ststement of flnancial activities. Grat)ts towards general artlvities of the entity over a speclfic period are recognlsed In the statement of flnanclal activities over that period. Grants towar(Js fixed assets are reCOgn￿ed over the eX￿tel useful Ilves of the related assets and are treated as deferred incotne and released to the stètement of financial activities over the useful Ilfe of the asset concemed. All grjrits In the ststement of fin4fi¢1o1 Jtti¥ities are iec¢gnised when all conditlons for receipt have been cofflplied wlth. 3. Zncom• Irom Donatlon8 and Le9acles 2025 Unrestrlcted Restrtcted Total funds funds funds Donations and gifts Grants 197,761 197.761 25,000 25,(K)O 197.f61 25.000 222,761 Page 8 90 North Foundation Notes to the Financial Statement5 (continued) For The Year Ended 5 April 2025 2024 Unrestricted Restricted Total funds funds funds Donations and gift5 Grant5 143,000 143,000 143,000 143,000 4. Investment Ineome 2025 2024 Unrestrltted Unr*strlcted f￿ndS funds Bank inteost recelvable 151 74 5. Analysls of Expendltur• 2025 Support costs 15ee iiote 61 Raisino funds 175,$94 2024 Support Costs lstt note 61 Ral$ing fvnds 104,524 6. Support Costs 2025 Ralslng funds General admlnlstratton Interest payab Govemance costs 172,714 255 2,625 175,594 90 North Foundation Notes to the Financial Statements (continued) For The Year Ended 5 April 2025 2024 RalsTrng funds GetTrÈral administration Inte￿$t payable Govemance costs LOI,266 314 2,944 104,524 7. Av•rage Number of Employees Average number of employees during the year was: NIL12024: 1 8. Cr•dltors: Amounts F•llln9 Due Wlthln One Y*•r 2025 2014 Other credltors 2,270 6,853 10. Mtsvernent In Fund* As at 6 Aprll 2024 A• at 5 Aprll 2025 Incom• Expendltur• Unrestrlcted fund5 General.. General unrestricted Fund Restrlcted funds Fishmongers, Company's Flsherles cha￿table Trust 7,389 197,912 1150.5941 S4,707 25,( 125.0001 Tot•1 funds 7.389 222,912 1175,5941 54,707 As at 6 Aprll 3023 As at 5 Aprll 2024 Ineome Expendlturn Unrèstrlrt*d fund General.. General unrestrlcted fund 131,161) 143.074 1104.5241 7,389 TotJl tunds {31.1611 143.074 1104.5241 7,389 11. TransactSons wlth Trustees No trustee expenses have been incurred. 12. Related Party Dls¢105ures There have been no related party transactions in the ￿portir￿ pwK)d that require dod05ure. (Ir* the previous year a trustee was repaid a loan in full which was lent in the year to 20231 Pa9e io 90 North Foundation Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 5 April 2025 2025 2024 Total fund$ Total funds INCOME AND ENDOWMENTS FROM: Donations and legacles Donation5 and gifts Grants 197.761 25,000 143,000 222,761 143,000 Investments Bank Interest receivable 151 74 151 74 222,912 143,074 EXPENDITURE ON.. Ra151ng funds Computer soft¥Yère, consumables and maintenance Prlntlngi Postage and statlonery Advertlsing and markeiing costs 16831 12741 11181 114,4091 19201 1611 ii.iooi 1161 Other marketin9 Costs Professional lees Subscriptions Entertsinlno Sundry expenses F￿elanCer fees Executive director's fee5 Travel & subsist•nc• Hotels Bank charyes Accountancy fees Legal fees 152.3711 12,4361 1841 1901 16,2041 174,5001 13,5121 14721 13141 11,0001 11,9441 136.5431 {79,1651 11.0211 12551 12,6251 1175,5941 1104,5241 1175,5941 1104,5241 NET INCOME 47,318 38.550 Page 11