REGISTERED COMPANY NUMBEIL. 01145214 (England and Wale5) REGISTKRED CHARITY NUTrILIER: 267410 i¥. Chario( HoiLse Ltmikd ChartCLEd AccoLU]tsuts 44 Grand Poxade Bri8hton East Su55eA BN2 9QA
OF THE FIN P*ge Report of the Thistees I to 5 IndeptndentEx8mineV$ Report Ststtmentof Th8ncisl Adlvlties B8l&nce Shttt Nole5 to the Fln4ndg1 Ststejnents 10 to 14 D¢led Statemwht of Financlal Aetfvitks 15
Tl The trustees wbo Hre also directors of the charity for tbe ptwposcs of tb¢ Companie5 Act 21M)6, present Iheir report with the fitl¢la1 statenmits of tbe charity for the year ellded 30 June 2024. The trLStecs have adopted the provisions of ALeounting and Report]ng by CharitLes'. Statellttt of Recommended Practice Applicable to Gharities prq)arin8 their Rceounis in accllee wilh the Fin2ncial Reporting Stsndard 8ppliubl¢ in tho UK and Republic of Ireland IFRS 102) (effective l January 2019). OBJECTIVES Af4D ACIIVITIES Objeetlves and alm5 The objectiv¢5 of the Chlty are to promot< organise and supp)rt expeditions for th¢ ¢xplorntion of developing regions of th¢ earth for the purpose of advoncing knowlcdge of, or reseaT¢h into, or for tli¢ purw of edue4ting individuals in th¢ 88pIly, history. athcology. sociology. eConDi(S, ¢10y. byology of tlje s&id r¢8iOft8. Th¢ Society has organised meetings in London and ¢lsewber¢ at which lecture8 Ott scientific exploration were given. The Society continuLT to 8dVI a greAt people on the conduct of scientific exploration ADd to lry out felsibility sttxlie5 for lU1¢ projects. It also liaises with $.h0Ol scith)tific establisbmellts and the Arn)cd Force The principal Mciivi¢y of the subsidi4ry Mp8ny, OEy¢rglion Ral¢igh PrwnotiorLS Limit was to promote products sueh photogTaphs ftlms and books derived from the activitie8 of Scicntifie Exploralion Sociery. Operation Raleigh Promolions Liinited i$ now a dOmnt coinpaiiy. Publle bentflt Froin L April 2(K18 8eetion 4 of the Charities Act 2011 ttquires du cbarities lo meet the legal requizemeut that its atllLg aLt for the publie benefit. The Charity Coitllnission in 11$ "ChaEities thnd Public Benefit" guidance stotes that t1 two key prinriples to be mel in ordcr lo show that ftn orgat]isaiion's oims arc for tlie pubb'c b¢ncfit.' fii8cly. ther¢ must .be all identifiublc bcnefit and Sfxondly the benefit MlIbe to the public or a se¢tion tsf th¢ publiL. 'rhé Trnstees cottfum tbat they have eomplied with the diity in Seetion 4 of the Charitieg Act 2011 to have due rogard to public bcncfit guidgnce published by thc Commi85ion in dciern)ining tlio uctivitics undmtskcn by the chority. Th¢ Thte¢S OTe Fatisfied that iho aim& and ObJLi¥¢8 of tlie charity, and th¢ activitie5 r¢ported on above adiieve thos¢ aims, me¢t thes¢ prillcipl¢s. Page I
EXP 1411 REP TRU ACHIEVEMEf4T Af4D PERFORMANCE ChAt4table •¢tlvltl The Society milintaitys its BuThary set up to rnalk 40ib year of Scientific Explornion S(Kieiy to support youD8 exploreN rwtng on th¢ tr&dition of piotrIllg leadershtp scientific exploration. This yeafs Explortt Awird5 Presentation Evenin& the Oscars of Exploratio was held in October 2023 and was ho8t¢d for th¢ cond yeor runtiittg by the Royal College of Surgeons. Five SES Explorer Awards were presented to deserving winners, tothlling £31,050, to support Pioneets with Purpose leading the following ¢¥[lt10s'. - StEi CHARLES BLOIS EXPLORER AWARD FOK SCIENCI & ADVE to Sergio Nola7Ko Plasier Exploring Sin¢himark8 (Pern). - ELODIE SANDFORD EXPLORER AWARD FOR AMATEUR PHOTOGRAPHY ty R¢74 Saputra - Bird's Head Peninsula Orchi(ts ([ndOnJa). - JUDITH HEATH EXPLORER AWARI) FOR BOTANY & RESEARCH to Dtwi L¢sthri - RafflesiA Expdilion (Indon¢sial. - NEVILLE SHULMAN EXPLORER AWARD FOR EXPEDLTION FILMmAKG to Natalie Knowles - KByapo Defendets of the AnZ4)tt (Bra7il). . SES EXPLORER AWARD FOR NSPIRAITON & ScIEFIc TRAILBLAZING Sarah Tubb8 . Congwving Cembodian CctuceM {cbOd]). Tn addition. at th¢ ExploT¢r Awards Pr¢s¢ntstion Ceremony. four HOnory Award4 were pSend. . SES YOUNG SCIENrtFIC E>TrLORER ro Mya-Rose Craig. Birdgirl> proudly sponsored by Peter And June Felix. - SES PIONEER WITH PURTrOSE lo Ju5¢ a Drop, proudly sponsored by Craig Cohon. - SES EXPLORER OF THE YEARto Pr¢¢t Chandh MBE- Polar Pre¢L - SES LIFETIME ACHIEVEMENT to Colonel JobD Bla6bford-Snell CB4 prOllY spoDwJed by christo Wri8ht FR(JS. Thccv¢ning cnded with Colon¢l John B]h[ord-Sn¢lI b¢iny inl¢rview¢d by SES Advisory Board Chalr, Rosie Statleer. SES is extremely teful to its Explortr Award And Homrary Aword Spon80fS, tbe SES Awards Committee, and the Headline Sponsor RS The next Osears of Exploration presentstion evening will tsko place on Wcdneyday 16 October 2024 ai the Royal College of Surg¢on8. In thlition to ¢he £31.050 abov4 during the ycar and for the fitst titn4 Seven £2.000 SFS Raleigh Explorer AW were dc. Laun¢hcd in wllubor4tion with Rul¢igh Int¥rryulion41 and Oper4lii)n Ral¢igh Alumni, Ihi8 l5 ill initiative th8t will provid¢ opportimitieg for yourtg ittdtvidualx from les8 advint8ged bSrOund8 in the UK to embErk on trgDs(OrDtiyc volunteering OprtltieS thoad. During th¢ year, SES h05t&l iwo fundraising dInnB at the Orientsl Club kn IA)ndoD and one further dititier 8enBmtsly hoskd by Advisory Board m¢ukn¢r. D2Thon d¢ Laszlo, in ByTOn'S Chambets, Alballyj Piccadilly raising £24,000 plus Gift Aid, whcrc applicable, to Bo towards fidIng ¢ore running ¢ost$ and twk¢tin8lPR tD hclp raise tnorc tnotty to $u$tgin Jnd grow the Soci¢ty 50 that it has wter itnpact ¥nd larger membership. During thc ycar, Ibc SES cornThwnity has cnjoycd a full Prograrnme of insPtr&tional Explorer Talks, hdd at thc Coopers At]ns in LoJJdoD. We arc bugely grate] to ail our speakcrs who ¢ToU5]Y 8ivc w> their time to sharc th¢r rivcting expedition stories to help T8is¢ awaJrne5s of the issues ttJ&t faceour pl8llet today. Speakers IlUded. - Colonel John Blashford-snell CBE- The Darien G8P - Pip Stewart- Life LSoD$ from th¢ Amazon - Crdig Nuttall- Garhwal Mountain Resc Proj¢c¢ - Paul Niel- Project Av8¢[ - Alex Bes¢oby- The Last Overland - Deon Barrett- TNe Nortb PrO1t - KaleColeridge- Mongolian Klian Kh¢ntii . And5 A[MIer. Rules ofthe Raitjforcst - Rosie Stancer and Pom Oliver- Sioai Peninsula Page 2
TLwn SFS ttjok part in the Lon(lon Marathon tn April 2024 with ¢ight rurllw taising att impressive swn for th¢ Society. The Soctetys Advisory Board elljoyed its aunual gathering. an evening of drinks and delicio c4napcs gerter0lY bosled by SES Chair Peter Fetix CBE. Rlld his wifc Juli¢, at their home itt L(mdon. Updates artd progress reports were given by SES Advisory Board Cluir, Rosie Stancer, Peter Felix and SES CEO, Hetirie Tho4)e. Gii¢sts also enjoyed a riveting accoullt of the TrdisCovY of Attenlx)roiigh's lost long-beaked echidna frtsni SES Explorcr Kcn)pton whg JJ)ade the redi5covy during his SES-SUPPOrtcd Fapulition Cyclops. We welcomed eight new members to the Advisory Board: Preei Chandi MBE Dftmon de L&4zlo DL Colonel Martin RoTnilly OBE ReTA Pakn1Va FRGS Haydyn Tanner bRGS Dr Al¢xander.FllJD¥u TJ Halbert8ma BLmedictAllen FRGS Tlie Socidy publi8hed th¢ third cdi¢ion of its new digilal publiC8tio Exploralion Rev¢ale(L in NovezDber 2023 hybrid magazinL' t]Mt aims 8dv8ni¢ knowl¢dg¢ aboul, and provide peer-to-pfKr support for, SLLcnlifi¢ Illd advcnlur¢-Icd ¢xpedilioD5. It h&$ been crcatcd with a view to Icaniing throuyh support, shared expaienLes, and the pa85iiJg on of ktWIcd8c. The Sociely continues Io BUPPOrt community aid work, in njU¢t10n with ¢h¢ Ch8rity Ju81 a Drop, urricd out during expeditions led by JOI BIHthford-Sn¢ll. The Soci¢ty unites with high quality, innovative and pioneerin¥ scientific pIOtIon by endorsing independently-run expeditions ihiit Ineet the Society'8 objcclives. During tknL' year, the following expcdiliolls have be endorscd.. Scott P&llctt- Valkyrie Expedition (Greenland) - Rosa Vasqiiez Espinoza- Tile Hithlen World of Amazonian Stingles8 Bees (Peru) - DT Timm DOlft and Lea ca1¢rc- Wings of Survivul (Ala5k8 to Patsgonia) - Ella Hibbwt- Ella irt the Ar¢tic (Arclie Ocean) SES members fTieDds b8ve received llwnthiy u¢wsletters keeping then) #breust of the Society's news and events. SES SDcial media has a stron8 aftd ever-increasing followsng and has been kept 1]Y active with rich and rel0t eontent about scientific discovery. research, and consLrvulion, ]SIng awareness of the issues to art engaged audience. Member# T¢ceived the Society'5 atmual l]agsbip publication in Jdttuary - Ihe Scientific Explorer Anttual Review 2023, which gave a wonderful ovthview of life aDd activity within the SES con]munity. Metnbelship contillues to gTOW and we wclc¢)mc ttew manbers every month. Th¢ Socicty's Explorcrs Facebook Group conlinuGs to grow and cbleS cvcryoDc to kc¢p in tou¢h and 5b8 cxpcdition stOriCS BDd thc bcncfit of hindsightto shapc cxpcditioDs. FINANCIAL REVIEW Irin8ncl81 po$£ll(bn The Cliarity made a net SU4)lus of £3.188 for th¢ year Compd to & $ury)lug tbe previous year of £29.617. Total illCOTne deertased by £10,620 to £137,154 with donations droppillg from £77,961 to £59,116. Total expettdi(urc of £133,966 Was £15,809 higher thon tlie previous yeAr with explorer awgrds being £14,8(K) Iiigber. The Ch2rity. ha8 8 very satisfactory level of c8sh and rese¢ves however tlie Trustees recognise that new fi]nding is required to c(Fntinu¢ ¢)PQfdiions on80ing basis atMI Ilie f¢Kus on 82ining sponsorsb2P to cover Society's rU[illg costs and secure its fuluie ¢onlinues. Tne Trustees believe iliat ibe Cbariiy lths adequate available reserves and are ¢orifjdent that SES ¢a conlinue to e4tsbSith a fully position in the luTe. Page 3
•Ji PORT FINANCIAL REVIEW Inve5tm¢nt poilty objettlves These are governed by the Memorandum and Articles of As60ciaito which perniii the fimd8 to bc illvested any sccurity may be tbought fiL Re5erY29 pollcy The Tnjstees seek to mointain adequate Unrtricted rerVeS to enable the smooth d8y-tO-day operd¢ions of the Cbarity. At 30th June 2023, the unrestricted r¢s¢rves of the Charity were £268,171. The Trn8tec8 c4nsider that the of the Charity 8r¢ sutTicient to m¢et the Charitys obli8atioDs on a fjJn&by-fund STRucfuRL GOVERNANCE AND MANAGEMEP Governing document Sci¢ntific txplotation Society was incorporhtcd OD 13th Nov¢mb¢r 1973 IT¢giskrcd company numb¢r 1145214) and rec¢ived charithbl¢ 8tetus un 26tb April 1974 (rcgi8lered charity number 267410). Th¢ ChuTity 1$ ? wmpany limitcd by guarantcc and i& governed by its MeD]oMnduJn aud Articlcy of Association dated 18th November 1973 a5 Isst in Jonuury 2019. Recrultmtnt #nd hppolntmtnt of new tru8te The articles of Association allow for a Council of Membth (TnLStees) for maDa8¢Iti¢nt ofthe affairs of thc Charity, which sh911 consist of not les¥ than 6 nor more 10 meTnber& Honorary officers rnay be appointeil by th¢ Trust¢¢8 from tim¢ ¢0 lin. At AGl Any Tn¢ thppointed since the 18St AGM shall cease to hold office but shail be eligible for Te-¢lcctioD. In athlition. one third of T1 l¢xcluding copted TLWte¢s) sball retire but shall be eligible for Te-ele¢tion. those who hav¢ served long¢5t shall retkte fir8t. Thc Trustees have th¢ powci to ctropt a member at any time to Serve fur a 0XIT of12 months, aftw which they shthll be bligible again for LLH)PtiUJL Thc nuTnbcr of p¢rn eo-optcd shall n(rt exceed 10. All members are ¢iUl8t¢d with iDvitslioD5 lo nominate TSte¢S prior to tIL¢ AGM
dvi5in8 them of th2 retiring Tru$tees and reque5ling n¢)rninati¢)ns for the AGM.
OrRanh#tI0n itrutture Th¢ board of Tntee$, which normally meets four lime8 a year. adminisler ihe Ch&rity and are responsible for All major dl$lOn$ of th¢ Charity r¢gaTding activiti¢& pric% s¢aff salari¢s, Capital ¢xpdI¢ and inV¢sttnt of fund5 os wdl &5 the Strblegic direction and policy of thc Chfirity. Staff are subject to annu performance revicw and job spEcificatsons Bive cleardetAiI of roleg and rwttsibilitie8. ltsductlDn And trAlnlDg of ttew truite New T[*1¢S Dre given copies of the MeMOrnDd and Articlc$ of Association, latcst accounts and dethils of cUt fIn¢10] stAtsdiDg, and Charity Commis8ion litcrnture re8arding their le1 obli8atioDs utmkr Charity and compaDy law, and infornid of any changes &$ and when they beeome known. They are Also given copies of all current polieies agreed by the Charity. All Tnte¢S kept ftnfom)¢d Abo aad vote for, th¢ adoption or otberwise of tlt¢ otmual budg¢i arc encourd8cd to atte1 external ]nIng events wbicb could improve theirrole &4 Thistees. REFERENCE AND ADMif41STRATIVE DETAILS Regl$teYed CompAny number 01145214 (En8land and Wales) Registered Ch4rity llufftber 267410 ReElSttred office Mullins Mead Donhead St Mary Sh&ftesbury Dorset SP7 9DS Pag¢4
EXPtnRATtON REPORT E TRusfEES NDE Truste Miss D M All¢n Ms B Jcfftey MrP M Felix MrTBMo&q Mr D Zeitlin MSB Turner MrJ Fish (ajwillted 2Y112024) Independent ExamlDer Dr ShoDa F Wardrop CA Chariot Hous¢ Li]nitcd Chartered Ac(KJunt8nts 44 Gtand Parade Bri8hton Ea8t Sussex BN2 9QA Banke Natwegt Bank Ple The Commons Shaftsbury SP7 8IY A'pproved by order of the board of trugtees on.. . and sId on itg behalf by.. Mr D Zeitlin- Tn1¢¢ Page 3
LSOF EXPL Independent ¢X4mllleT'% ert trj the trMteeA of The Sdelltlfie ExpkntiDn Sotw C¢he Company.) I retKTrrt to the ch8ritytrwl¢es on my exami110n of the accounts ofthe ComtADy fortheyear e[ryI 30 June 2024. Responslbllltle% ttd bash of report As the rhatity's tEUStCC5 of the Colltpny (aThl a180 its dir5 for of compary IAW) you re$w1¢ fv Hing lfIcd lelf that the a¢o)unts of the Compaoy are ts)t required be auditrd uth Part 16 of the A and are eli8ible for indepeknt ¢XanJiD¢) I rewt in tespect of my exarnin7 of Charils accounts &s Lanied out utsder sectio 145 of tb¢ ChaTiti¢5 Act 2011 Cthe 2011 A¢tJ In carryll Out my examtDation I have followed the DIrethi$ Yell by the Chty CoJmissionuThkn Sedion 145(5) (b) of the2011 ACL IDdeptndtntexminerfs I have complctcd rny cxamination. I p)Dfirm thal have c(the to My attt10Th in 0)nn with the examitiatioD givius Tne to kii¢%r: ccow)ttDg record5 we not kept in r• of the CoD)pry as r4vitedby secti 386 of the2( Ae¢ LY the aecollttL8 do notawd with thoseTecord%" or the aLcount¥ do not comply with the Twiirrnts of Sedion 396 of the 2006 A eT ¥ny examinatiofy or 'the aeeounts hkve tsot beth prepAred in A¢e4)Tkn with the rncththL4 and principles of tht Statement of Re¢omrneTrded Pradi¢¢ for tIng WMI r¢pNting by chariti¢S (applicabk to dwities prepaTill8 thcir accouDty iti a¢eor&we with the FiTllneial RwtiD8 Standard 4wlirnbl¢ in the UK 8trJRybli¢ of Ircl8tyJ (FRS 102)). Sk_- J_aT* Dr Shona F Wttrdmp CA CboTiOt House Limibj CharteTed Accountants 44 fjrnnd Par4de Bri8hto East Sussex BN2 9QA
•Ji NT ED 2024 Total 2023 Totsl fullds UTwe51ricted Rc5tticted INCOME AJYD ENDOWMENTS FROM Donations and legacies 23.226 35,890 59,116 77.961 ChgrltgblE 8LtivStiE Charitable Activilie8 15.786 15.786 16.155 Other tT2ding activities Imitstm¢nt iftcome 56,225 3,652 1375 58.6 3,652 51.944 1.714 Totsl 98.889 38.265 137.154 147,774 EXPEI¥IDITURE ON R&i8in8 fimds 19J67 5Crf) 19.867 16.770 Charftable actlvlde8 Charitable Activities 73,936 40,163 114.099 101.387 Totxl 93,303 40,663 133,966 118.157 IYET INCOMVJ(EXPENDITURE 5.586 11398) 3.188 29.617 RFLONCll,IATION OF FUNDS Total fundq bft)u8hi ftsn¥ard 262.585 14.845 277.430 247.813 TOTAL FUNDS CARRIED FORWARD 268,171 12,447 280,618 277,430 The tt¢S forni part of these fjnancial statements Page 7
RATT KR: 11114521 ANCK S 2024 Tothl fjmds 2023 Total funds Unrestricted fimjd Re3tricted . fijnd FLXED ASSETS Investments ij loo CURRENf ASSETS Debto]5 Cash at book 1571 293259 1571 305,706 1,155 307,328 12.447 295.830 12.447 308277 308.483 CREDITORS Amounts f8lltn¥ due within oncycar (27,759) (27.759) (31.153) NET CURRKNT ASSKTS 26¥,071 12.447 280.518 277,330 TOTAL ASSETS LESS CURRENT LIABILITIES 268.171 12.4147 280.618 277,430 NET ASSETS 268.lti 12.447 280.618 277,430 10 unt¥strId fiu 268.171 12,447 262,585 14.845 TOTAL FUNDS 280,618 277,430 The charitabk cotnpatty is cntitl¢d to exemption ftom audit undcr Section 477 of the Companics Act 2006 for the ycar ended 30 June 2024. The mernbern have not required tl)e company to obtain an audit of its fmancial Statents for the year ended 30 June 2024 iti accordaner with Section 476 of the Companies Act 2006. The thtee5 acknowledge theirTwibilitic8 for (J) ensurin8 thot the eiwitable company keeps accounliJ)g records that comply with SeLtion8 386 and 387 of the Companies Act 2006 aDd (b) . prepIng fin&nci81 st*ments whith 8ivc & true bttd fAir view of the sthte of AffBirs of the ¢baiitable comp2ny #s t the e[ of eaeb fmattcial yrtr and of its surplus or deficit for ea¢h fjD&ncial year in accordan with ibe requirements of Sections 394 Hnd 395 ond which otherwi cornply with the requirements of the Compani¢5 Act 2006 relating to financial slatemellty so far as applicable to the cbaritable compny. The Mtes fomi pgrt of these fman¢ial statements . Pag¢ 8 continued...
These fu]ancial stal¢m¢tts have Ixen prepared in a)rdance with the provisions applicable to charitable coinpanies subject to the 8wII mpani Tegim The financial statements were apprnv by the Bosrd of TntteS and atlsed for i&q .. aud were si8ued ott its i*half by: D Z¢itlin- Tn]stee Pag¢
ON oc NT ACCOiIIYTING POLICIES Bgsl8 of prep#Tkng the nnanflal stAteDwnts The fi[181 slaternents of th¢ chHTitsble company. wbi¢h is a public b¢n¢fit ¢ntity under FRS 102. h8v¢ be¢n prepared in accordance with the Clwiti&4 SORP (FRS 102) 'Accounting Re[ing by Charities.. Stat¢m¢nt of Recommendcd Practice applicable to charities preparing their accounts in accordsllce with the Financial RertIng Sthnd8rd applicable in the UK and Republic of Treland IFRS 102) (eftective l JaTLuary 2019),. Fitiancial Reportillg Standard IIY2 The Financial Rcportin8 Siaudard applieable in thc UK and R4)ublic of Ireland, al the Comp8nia% Act 2006. The flllallcial statemeDts have beea prqpared ut)der the historical cost convention, with the exception of investments which are included at marketvalue. The accounts are prep8Ted on a going conc¢m bgSi8 After wnsideration by th¢ tnL5tce4 th8t there are no rnaterial uncertJintic5 about thc charity's ability to continuc as a going concern. Such con5ideratioD illcludcs a revicw of coTrJn]itted incomc aTLd expcndituras, cth flow5 and resmTes. Thc trterS tsot COD8ider that there are any sources of estimation uncerthinty at the rel1ng date that have a SIlficallt risk of U&l8 A rnatsrial adjusmKnt to the Caying amounts of a55ets and liabiliticN within the n¢xtTeporting wiod. The fin8neial ststcmcnts are Pr in Sterling whicb is the function cumcy of the entity, and Are rounded to theneaNt£I. CrltlcAI aceoundDgJudgcments ¥nd key of¢sdmitlon uD¢¢rt•lnty In ihc gpplic8tion of th¢ ¢harily's accounting policies, the charity is required to make judgmcnt4 e4timat¢5 and asSUmPtions alt thc carrying value of Hssrts and Itabilities thui are not readily appar¢Dt from other 50Uftt4. Thc astitDat¢s and associated wumptioLs are based on bist()rical ¢xperi¢n¢e and other facto coTr¥idered to be relev8nL Actual results may diffwftorn these estirnates. The ¢&lInt¢S aad UDderlyin8 8S8umptLI)JIS 8re reviewed oll AD onBoin8 bAsis. Revisiong to accounting cstimal¢s are recogDised in tho pcriod in which the c5titnate 18 fcvLSed, if the revision affects only that wiod, or in the p¢T1 of ihc revision and future periodg if (he revision alYe¢ts both the cuirent and fijture periods. There ar¢ no esLirnate8 a8gUTlJPtioDs that Are considered to have a &i8llific4nt risk of CAU8Lfi8 a mftteritil djuslments to the fInarJaI 8tatem¢nts itt a fitthr¢p¢riod. All income 18 recolIsed tn the Ststement of Financial Activities once the charity ha5 entitlement to the W it 18 probable thAt the income will b8recolv and tbcomount can be measutcdr¢liably. Expendlture Liabiliiies are recognised expenditure os won as there is a legal or eonstruetive obllgation c¢)nmiitting the charity to that expendittre. it is probable that a ttansfer of c01¢ benefits will be requited in settlement and tbe amount ofthe obligation CAD b¢ me4L8ur¢d Teliably. Expendilure 1$ aceounted for on bn attnmls basis 2Dd h been Glassifjed under hIng5 that aggrcgate all cost tciated to th¢ caie80ry. Whert Lo8ts cAnnot b¢ dI¢t[Y atknl>utcd to particular hcaditigs they h&vc been 8lltKAt¢d to artivities on o bdsiB wnsistent with thc usc of resources. Taxation The Charity 15 considered to Pa85 the tests get out in P8Tr8raph I Schedule 6 Financc Act 2010 and therefore it meets the defiDition of a ch8ritable cornpany for UK CoryK)ration Tox purposes. Accordingly the ChBrity is potentially ¢xempt frorn ttion IEL r&we¢t of income or c8pi¢al gain8 rcl¥cO within categori&8 covcrcd by Ch&pter 3 Part I I CorKM)ration Tax Act 2010 or Section 256 of the TaTation of Chargeable Gains Aet 1992, to the extent thatwh income or gaiy)s 8te applied exclwively to chRritsble pwpos&%. Fund xccouttttng Unrt4triCted fijnds ¢8n be used ino)rdate with the ¢Iltabl¢ObicGtlV¢s atthe disuetionof the truste&%. Page 10
RAT[ so FINAf4 ACCOUNTING POLICIES- contlnlled Fund attountlng Restricted fimds Can only be used for partiCLilar restricted purp05e5 within the objccts of the ¢lwity. Res'trictiotts arise when specified by th¢ donor orwlLen ful8 ate rni5ed for particuiarLEstricted PULyoses. ' Further explanation of the Dature and putpose of eaclj fimd 15 included in Ihe notes the ftt¢11 statements. Financi iLqtrurneDts The charity has only financial assets and financial liobilities of a kind that qunlify a8 basic financiol instments. Basic fthanciAI instruments ar¢ initially r¢¢o8nised at transacti(In vah]e and ar¢ subsequently me4&ured at their settl¢meTht le with the excepti(m of, bk loatL8 which mlured at amortiged eost usitjg the effective interc8t ro¢¢ho(L OTHER TRADING ACTIVITIES 2024 2023 Fundraistng events Other income 54,074 4.526 50,742 1202 58.600 51,944 TMENT TNCOME 2024 2023 Dep)sit account interest 3,652 1,714 NET INCOMEIIEXPENDITURE) Net irt¢omel(expendilure) is 8fterchorBi(¢reditill8)'. 2024 2023 ]nd¢pend¢ntExaminers' fee8 1.261 1.230 TRUSTELS, REMUNERATION AM) BENEFirs Therc were no trustees, mnullet8tion or other benefits for the year CLed 30 June 2024 nor for the year ended 30 June 2023. Page 11
AL STATEME TRUSTEES, REhIUNERATION AND BENEFITS. contlnued . The aEtM)untof TeimbuTsed expenses paid vrn5 Inil (2023.. £nil) during the year. COMPARATIVES FOR THE sfATEMENT OFFINANCIAL ACTivrrtEs UThTtstricted Restricted nd INCOM AJYD KNDOWMENf6 FROM DonatioL% and leghcies 39572 38,389 77,961 Ch8rlt&ble actlvltiej ChaTitsbl¢ A1vItie l6.155 16,155 Other traditi8 activities Invcsllncnt income 51.944 1,714 51.944 1.714 109,385 38J89 147.774 EXPENDITURE ON Raising fvods 16.770 16,770 Charltsbie ActMtI• ChArlble Abiivities 65.142 36245 IOlJ87 Total 81,912 36,245 118,157 NET INCOME 27,473 2.144 29.617 RECONCILIATION OF FUNDS Total funds brou8bt fojward 235.112 11701 247,813 TOTAL FUNDS CAJUUED FORWARD 262.585 14,845 277.430 FIXED ASSETINVESTMENI3 Shares group Ai l July 2023 and 30 June 2024 NETBOOK VALUE At 30 2024 i(K) AI 30 Juoe 2023 Page 12 contitjLl..
THE EXPLORATION SOC ESTOTHE FIN FIXED AssrfiNvEsTMENfs. coDtlnued The clwiry holds the ¢nlire i85ued Share witai of OpEtdtion Ralcigb PronM)tiou8 Limits4 a company whicb is registered in England and Wales. The complY was cngaged in the markettng of products arisiDg from the activities of The Scientific Exploration Society. It has been dormant from l July 2010 with its aetiviti&s now trAtL%ferTed to The S¢i¢tt¢ific Exploration Society. It 15 DO longer seell Dccessary to prq)are a corLsolidated set of accoun¢s as the subsidiary 15 not rIaL Separate accounts for thc subsidiary will be available froJTh Companies House. DEBTOILS: AMOUNTS FALLINC DUE MTHIN ONE YEAR 224 2023 OthcrdcbrS 1.886 685 418 737 2571 1,155 CREDITOBS: AMouNfs FALLINC DUX WITH[4 ONE YEAR 2024 2023 Oth¢rcreilitots Acend cxpeDS 20.419 7.340 29,417 1,736 27.759 31,153 io. MOVEMENT IN FUNDS Net movement infiu At 3W6n4 At Inn3 Unrutrfcted fund8 Gener81 fund 261585 5586 268.171 ReJb4cted Re5trictcd fimd J4,845 (2J98} 12,447 277,430 3.188 280.618 N¢t moVwrt iti fuTKls, irtcluded in the abov¢ ar¢ 08 follow8: IncoTDiti sourc&8 R¢souzvs Mov¢m¢nt Unrestricted fundj General fiu 98.889 (93,3031 5,586 Restrleted fulld8 Restr2Cted fund 38265 (40.663) (2.398) TOTAL FUNDS 137.154 (133.966) 3,188 Page l3 conlinued..
•Jiw STATE R THEYE io. CompaTative5 forrnovement rTraI Net movement infim At Inr22 3016R23 Unrestslcted 235,112 27.473 262,585 ' Restiicted fund5 Restricted fi4 11701 2.144 14.845 TOTAL FUNDS 247.813 29,617 277,430 ComparatiV¢n¢tmoveuit in fJ]nds. in¢ludeil in the above are &s follow& Incoming R¢50urccs expended Movcment Unrestrieted funds General fut 109.385 (81.912) 27,473 Rcstrlettd Restri¢tcd fjJDd 38.389 136245) TOTALFiINDS 147.774 (118.157) 29.617 The restrict funds are mainly monies re1Ved from sp)nsors of the Explorer Awards. The nionies are for tbe payinellt of awards under the S¢i¢utific Explo10 S¢xi¢ty EKplor¢r Awards aud towards the eod of adlD]StaIn8 thes¢ awards. IA. There were no relatedparty trawactions for theyear ended 30 Jut]e 2024. Page 14
2W24 2023 Donatlons and leRAdes Don*ions Gift aid Grant$ 19J32 4,792 34.992 43.(Y)I 3,121 31,749 59.116 77,961 Other tradiThg xtivitiey Futthising events Otberincome 54,074 4.526 50.742 1,202 58.600 51,944 Inyegtment Income Deposit account intcrest 3,652 1.714 Charkable sdlwltl• subs7ptiottS 15,786 16,155 Totsl IncomlDg r•wurfe 137.154 147.774 RalstDgdon4tlons l¢gacles Futthisitig and publicity 17270 297 10,723 6,047 19.867 16.770 Charitsble 8tlivitie8 Gtants EAplorerawdTd4 Bursary expe¢# 10,547 30,250 24.171 23,955 2531 8,703 1,230 45,050 25925 28.S73 2.690 10243 1218 oirice lsts 114,099 101,387 Totsl re50Utces expendcd 133966 118.157 Net incomt 3.188 29,617 This page th)es notfomipart of the StattOry fuwiciai statements Page IS