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2024-11-30-accounts

The Ocean Trust Trustee Annual Report Financial year end 30[th] November 2024

Company Number: 14503290 Charity Number: 1206142 (England & Wales)

Trustees:

Viola Georgina Roberts Angus Ciaran Roberts Adam Craig Ogden Andrew Giles Pedder Davies

10th Floor, 240 Blackfriars Road London, England, SE1 8NW

Introduction from the Trustees

The Trustees are pleased to present the first Trustees’ Annual Report, together with the financial statements, for the year ended 30[th] November 2024.

The Ocean Trust was incorporated as a charitable company limited by guarantee on 24[th] November 2022 and registered as a charity with the Charity Commission for England and Wales on 11[th] December 2023. The charity is governed by its Memorandum and Articles of Association, as amended on 17[th] October 2023.

This report has been prepared in accordance with, the Companies Act 2006, the Charities Act 2011, and the Charities (Accounts and Reports) Regulations 2008, together with the Charity Commission’s Statement of Recommended Practice (SORP) FRS 102.

Public Benefit

The Trustees confirm that they have had due regard to the Charity Commission’s statutory guidance on public benefit, as required under section 17 of the Charities Act 2011.

In reviewing our aims and objectives and in planning our activities, the Trustees have considered how the work of the charity contributes to delivering a recognisable benefit to the public.

The Ocean Trust - Trustee Annual Report - Financial year end 30[th] November 2024

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Company Number: 14503290 Charity Number: 1206142 (England & Wales)

In particular, the Trustees have ensured that the activities of the charity work towards the advancement of the Objects set out in its governing document, that these benefits are clear and identifiable.

future advancement of its Objects, namely the promo^on of the conserva^on, protec^on, and improvement of the physical and natural environment, with a par^cular focus on - though not limited to, marine ecosystems.

Objects of the Charity

The Ocean Trust (TOT) ensures all activities undertaken are reviewed against the Objects of the charity, as outlined in the Memorandum and Articles of Association, as adopted on 24[th] November 2022 and amended on 17[th] October 2023.

The charity’s Objects (“the Objects”) are specifically restricted to the following:

“4.1 For the public benefit, to promote the conservation, protection, and improvement of the physical and natural environment, with a particular focus on but not limited to marine ecosystems and biodiversity within the Western Indian Ocean, with a primary focus on Kenya. By but not limited to:

(a) supporting and collaborating with local communities, governmental bodies, and other organisations to develop, implement, and manage sustainable marine conservation practices, marine reserves, and protected areas;

(b) working towards the restoration and rehabilitation of degraded marine habitats, including but not limited to coral reefs, seagrass meadows, and mangrove ecosystems, through progressive new technologies, scientifically sound, and ecologically sensitive methods;

(c) the promotion, development, and application of national and international best practice techniques relevant to marine conservation and restoration;

(d) advancing education among local communities and the public on the topics and importance of marine conservation, sustainable practices, and the preservation of marine habitats and species; (e) the development and management of research and development facilities and related education and training facilities relevant to the conservation and restoration of the natural world;

(f) supporting and conducting research and scientific studies aimed at understanding, monitoring, and mitigating threats to coral reef and marine ecosystems, including but not limited to pollution, coral bleaching, habitat destruction, overfishing, and climate change and to disseminate the useful results of such research;

(g) providing grants, funding, or resources to projects and initiatives that align with the charity's objectives and directly contribute to the conservation and restoration of marine environments, in particular, but not limited to, coral reefs.”

Risk Management and Governance

The Trustees are responsible for the overall governance of The Ocean Trust and for ensuring that the charity complies with its governing document, charity law, company law, and all other relevant legislation and regulations.

The Ocean Trust - Trustee Annual Report - Financial year end 30[th] November 2024

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Company Number: 14503290 Charity Number: 1206142 (England & Wales)

The Trustees have considered the major risks to which the charity may be exposed to. These include financial, operational, environmental, and reputational risks. In the first reporting period, the following key areas have been identified:

Risk Register

Risk Area Description Likelihood Impact Mitigation / Controls Responsible
Diversification of income
Financial Loss of funding or
shortfall in income		 Medium High sources; minimal reserves
policy; regular cashflow		 Trustees
monitoring
Legal &
Regulatory		 Non-compliance with
Charity Commission
requirements or
statutory obligations		 Low High Regular review of guidance;
adoption of appropriate
policies (e.g., safeguarding,
data protection, financial
controls)		 Trustees
Operational Grant delays or failure
to achieve objectives
Medium		 Medium Regular monitoring and
reporting		 Trustees
Reputational Damage to public
perception or
stakeholder trust		 Low High Transparent communication
and policies		 Trustees
Health &
Safety		 Incidents affecting
staff or volunteers		 Low High Health & Safety policy; risk
assessments; staff/volunteer
training
Trustees
Asset & Data Loss or theft of
equipment or data		 Low Medium Secure storage; IT security
measures; regular backups		 Trustees

Reserves Policy

The Trustees have adopted a reserves policy to ensure financial resilience. The charity aims to hold reserves equivalent to approximately one-tenth of its annual income (circa £2,700 based on 2024 income) to cover unforeseen expenditure or shortfalls in funding. The reserves are held in readily accessible accounts and the policy is reviewed annually to ensure it remains appropriate.

The Ocean Trust - Trustee Annual Report - Financial year end 30[th] November 2024

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Company Number: 14503290 Charity Number: 1206142 (England & Wales)

Governance

The Trustees are satisfied that the systems in place are appropriate to the scale and complexity of the charity at this stage of its development, and that risks are being effectively identified and managed.

Achievements and Performance

The year ended 30[th] November 2024 marked the first full year of operation for The Ocean Trust following its registration as a charity in December 2023. During this formative year, the have focused on establishing strong foundations for future fundraising and awareness activity, building partnerships, and developing the resources necessary to achieve long-term impact. A big focus of this was to build an appealing website, which demonstrated the mission and aims of the charity which had the ability to collect online donations.

Governance and Organisational Development

Partnerships and Collaboration

Conservation and Research Activities

The Ocean Trust - Trustee Annual Report - Financial year end 30[th] November 2024

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Company Number: 14503290 Charity Number: 1206142 (England & Wales)

Education and Community Engagement

Fundraising and Financial Development

Looking Ahead

The Trustees consider that the first year has successfully laid the groundwork for the charity to deliver its Objects in future. Building on this foundation, The Ocean Trust plans to scale up its conservation and education activities, expand community partnerships, and deliver measurable ecological and social impact in the years ahead.

Key priorities for the next reporting period include:

The Trustees are thankful for the support received and look forward to what The Ocean Trust can achieve over the next few years.

The Trustees declare that they have approved the Trustees’ Annual Report.

Signed on behalf of the Trustees:

Signature: _________ Name: Angus Ciaran Roberts Position: Trustee Date: 29/09/2025

The Ocean Trust - Trustee Annual Report - Financial year end 30[th] November 2024

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Company Number: 14503290 Charity Number: 1206142 (England & Wales)

Company Number 14503290 Charity Number 1206142 il j) l(:, The Ocean Trust Report and financial statements for the year ended 30 November 2024

The Ocean Trust Reference and administrative information For the year ended 30 November 2024 Company number Charity number 14503290 1206142 Re8lStered office and operatlonal address IO" Floor 240 Blackfriars Road, London. Eng13nd, SEI 8NW Trustees Trustees, who are also directors under company law, who Served during the year and up to the date of this report, were as follows.. Angus Ciaran Roberts Viola Georgina Roberts Andrew Giles Pedder Davies Adarn Craig Ogden Bankers Royal Bank of Scotland olton Customer Service Centre, PO Box 2027, Parklands, De Havilland Way, Horwich, Bolton, BL6 4YU Independent Examiner Miranda Ellaby ACA. Eaton Estate Office, Eccleston, Chester, CH4 9ET

The Ocean Trust Trustees, annual report For the year ended 30 November 2024 The trustees present their report and the unaudlted flnancial statements for the year ended 30 November 2024. Included within the trustees, report, is the directors, report. as required by company law. Reference and administrative information, set out on page I, forms part of this report. The financial statements comply with current statutory requlrement5, the memorandum and articles of association and the Statement of Recommended Practice- Accounting and Reporting by Charities-. SORP applicable to charities preparing their accounts in accordance with FRS 102. Objectives and activities The charl￿5 objective 15 to promote the conservation, protection and improvement of the physical and natural environment, with a particular focus on but not limited to marine ecosystems and biodiversitv within the Western Indlan Ocean, with a primary focus on Kenya. Achievements and performance The Ocean Trust bec3me a registered charity on 11 December 2023. The Ocean Trust is working with The Ocean Trust Kenya to support and collaborate with local communities, governmental bodies and other orgènisations to develop, implement, and rnanage sustainable marine tonservatlon practlces, marine reserves and protected areas, to work towards the restoration and rehabilitation of degraded marine habitats, including coral reef5, seagra5s meadow5 and rnangrove ecosysterns. k* 5918ctlngthel￿O Socknl andGovginrngnl Re8lStai ￿d￿C￿0￿

The Ocean Trust Trustees, annual report {Gontinued) For the year ended 30 November 2024 OQ tp5 Cuolsouiclng Th•BLild mon￿oI4n9 MoTnl8rrfJnco Flnantlal revlew Total income for the year of £27,50112023.. Enill related to donations of £25,001 from a trustee and £2,500 from The Matthew Good Foundation. Expenditure totalling £18,14312023.. £nill was used for charitable purposes including support and governance c05t5. Surplu5 income over expenditure 01 £9,35812023.. £nill will be carried forward for expendlture on charitable actlvities in future years. Golng Concern The trustees have considered the level of funds available and have a reasonable expectation that it has adequate resources to continue in operational exlstence for the foreseeable fLJture. beine at least 12 months from the date of signirig these accounts. Accordingly, the accoLJnts have been prepared on the basls that the charitable company 55 a going toncern. P05t balance sheet events There have been no 5igniflcant events affecting the ch3ritable company since 30 November 2024. Charity Governance The Ocean Trust is a charitable company limited by guarantee, incorporated in 2022 and registered a5 a charity In 2023 and must comply with the Companies Act 2006 and the Charitles Act 2011. All trustees give their time voluntarily arid receive no benefits from the charity. Risk Management Significant risks to which the trustees believe the Charity is exposed have been reviewed and systems and procedure5 established, to identify, evalLJZte and manage those risks. Option5 for mitigating actions are reviewed, agreed and implemented, as appropriate.

The Ocean Trust Statement of Trustees Responsibilities The trustees Iwho are a150 dSrectors of The Ocean Trust for the purposes of company lawl 3re responsible for preparing the Trustees, Annual Report and the financial statements in accord3nce with applicable13w nd United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice) including FRS102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the State of 3ff31rs of the charitable company and of the incoming resource5 and pplic3tion of resources, including the income and expenditure, of the ch3ritable company, for that period. In preparing these financial Statements, the trustees are required to.. select 5Ultable accounting policies and then apply them consistently obSe￿e the methods and principles in the Charities SORP make judgernents and estimates that are reasonable and prudent state whether applicable UK Accountlng Standards have been followed prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the charitable company will continue in husirness The trustees are responsSble for keeping proper accounting records that disc105e with reasonable accuracv at any time, the financial position, of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity ol the corporate and financial information included on the charitable companvs website. Legislation in the United Kingdom governing the preparation and disseminatlDn of financial statements may differ from legislation in otherlurtsdictions. This report ha5 been prepared in accordance with the provisions 3pplicable to companies subject to the small Companies, regime of the Companies Act 2006. The trustees, annual report has been approved by the trustees on 3 1 J LJ I their behalf by 2025 and signed on Angu5 Roberts Trustee

Independent Examiner's Report to the Trustees of The Ocean Trust I report to the charity trustees on my examinatloTI of the accounts of the company for the year ended 30 November 2024 which are set out on pages 7 to 11. Responsibilitles and basis of the report As the charity's trustees of the cotnpany Iwho are also the dlrectors of the company for the purposes of company lawl, you are responsible for the prep3ration of the accounts in accordance with the requirements of the Companies Act 20061"the 2006 Acl'l. Having satisfied myself that the accounts of the company are not required to be audited for thi5 year under Part 16 of the 2006 Act and are eligible for Independent examination. I report in respect of my examinatlon of your charitvs accounts as carrled out under section 145 of the Charitie5 Act 20111.the 2011 Act'l. In arrying out my examination, I have followed the directions given by the Charity Commlssion under section 14515llbl of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connectlon with the examination giving rlle cause to believe that in any material respect.. l. Accounting records were not kept in accordance wlth section 386 of the 2006 Act,. or 2. The accounts do not accord with these records., or 3. The accounts do not comply with relevant accountlllE requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as p3rt of an independent eKaminètion,' or 4. The accounts have r)ot been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance wlth the Financial Reportlng Standard applicable in the UK IFRS 1021. 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. Miranda Ellaby ACA Eaton Estste Olflce Eccleston Chester CH49Er J￿l

The Ocean Trust Statement of Financial Activities (including Income and Expenditure account) Year Ended 30 November 2024 ote Unrestricted Funds 2024 Unre5trrcted Fund$ 2023 Income from: Donations 27.5CII Total income 27,501 Expendlture on.. Charitable activities 113,9711 Support and governan 14,1721 Total expenditure 118,1431 Net income 9,358 Reconclliatlon of funds Funds brought forward l December Funds carried forward 30 November 9,358 All Income and expenditure derive from continuing operations. There were no recogni5ed gains or losses for the current year or preceding year other than those shown abniie.

The Ocean Trust Balance Sheet as at 30 Novernber 2024 Note 30 Novernber 2024 30 Novembor 2023 Current Assets Cash at bank and In hand 9,358 5,001 Curyent Llabllltle5 Credltors 15,0011 Net ¢urrent assèts NET ASSETS 9,358 FLINDS OF THE CHARITY Unrestrlcted Funds 9,358 For the year ending 30 November 2024, the company was entltled to exemptlon from audlt under 5ectlon 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtaln an audlt of Its accounts for the year In question In accordance wlth 5ectlon 476. The direttors acknowledge their re5ponsibllities for complylng wlth the requlrements of the Act wlth respect to aecountlng record5 and the preparatlon of accounts. These accounts have been prepared In accordance wlth the provtsion5 appllcable to companles sublect to the small companles, reglme. The financial statements of The Ocean Trust, Charity Number 1206142, Company Number 14503290, were approved by the Board of Trustees and authorised for issue on 31 july 2025. ..Angu5 Roberts

The Ocean Trust Notes to the Financial Statements For the year ended 30 November 2024 l. General informatlon and accounting policies (al Company and charitable status The Ocean Trust is a company limited by gLJarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office is disclosed on page Ibl Basis of accounting The financial statements have been prepared under the historical cost convention, and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnancial Reporting standard in the UK and Republic of Ireland Charities SORP IFRS 1021 Isecond editlon October 20191. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland 102 IFRS1021 ljanuary 20221 and the Charities Act 2011. The functional currency of the charitable company 15 in pounds sterling a5 the charitable company operates and re￿iVeS income the UK. The charitable company constitutes a public benefi* entity as defined by FRS 102. The principal accounting pollcles are set out below. Icl Going concern The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees have made no key judgements which have a 51gnificant effect on the accounts. The trustees have a re3sonable expectation that the charitable company has adequate resources to continue in operatlonal existence for the foreseeable future. Therefore. they continue to adopt the going concern basis of accounting in preparing the annual report and financial statements. Idl Income ènd expenditure Income Is èccounted for in the statement of Financial Activities when the charitable company is legally entitled to the income and the amount Can be quantified with reasonable accuracy and is probable to be received. Expenditure is accounted for on a p3yable basis. Grants payable are payments made to third parties in the furtherance of the objects of the charitable company. Charitable expenditure also includes support Costs in the administration of the company and attrlbutable VAT which cannot be recovered. Governance costs comprise cost5 relzting to the public accountability of the charitable cornpany and its complianee with regulation and good practice including notary and legal fees.

The Ocean Trust Notes to the Financial Statements (continued) For the year ended 30 November 2024 lel Taxatlon On the basis that the activities fall within charitable purpose5 and the fund5 are applied only for these purposes, no provision for taxation is made. If) Fund aecounting All funds are unrestricted and can be used in accordance with the charitable company's objects at the discretion of the Tru5tee5. Igl Financial Instruments Financial a55et5 and financial liabllitles are recogni5ed when the charitable company becornes a party to the contrzctual provisions of the instrument. 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 acquSsition or opening of the deposit o similar account. Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to 2 third party and the amount due to settle the obligation can be rneasured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 2. Income Unrestrltted Funds 2024 Unrestricted Funds 2023 Donations 27,501 Total Income 27,501 io

The Ocean Trust Notes to the Financial Statements (continued) For the year ended 30 November 2024 3. Analysis ol expendrture on charitable activities 2024 2023 Website design Grants to The Ocean Trust Kenya 12,0(X) 1.671 Sundry costs 300 Total expenditure on charitable activities 13,971 4. Analysls ol expendlture on support and governan 2024 2023 Governance 4,050 Sundry 122 Tot31 expenditure on support and governance 4,172 S. Creditors- Amounts falltng due within one year 2024 2023 Amount due to trustee 5,001 5,001 6. Trustees, Remuneration No trustee received any remuneration or benefits in kind during the year or prior year. During the year to 30 November 2024. no trustee received reimbursement of expense512023.. £nlll 7. Related Party Transactlons None of the trustees received payment for professional or other seNices supplied to the charitable company during the year12023.. Enill. Grants of £1,671 were paid to The Ocean Trust Kenya12023'. £nill. The trustees of The Ocean Trust Kenya are trustees of the charitable company. During the year donations of £25.001 were recelved from a Trustee12023= £nlll. li