Registered number: 01867863 Charity number: 290776
ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 13 |
ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Trustees Youna Le Berre Lemaire Lyons Jeanie Hay Helen Falconer Dr Judith Sian Huntley Prior
Company registered number 01867863 Charity registered number 290776 Registered office One, Bartholomew Close London EC1A 7BL Company secretary Broadway Secretaries Limited Accountants Hedley Dunk Limited Chartered Accountant Trinity House 3 Bullace Lane Dartford Kent DA1 1BB
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Company for the year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives, Principal Activities and Organisation
The Advisory Committee on Protection of the Sea ("ACOPS") is a non-campaigning UK-based environmental NGO established in 1952 by then MP Jim Callaghan. It is a limited liability charity thereby registered with both the Charity Commission and Companies House. ACOPS is a registered charity, number 290776. It is also registered as a charitable company limited by guarantee, company number 01867863, and is therefore governed by its Memorandum and Articles of Association.
Trustees may be appointed under the terms of the Articles of Association. Newly appointed trustees are given sufficient training and instruction in order to enable them to complete their necessary duties. The charity is administered by the Board of Trustees and Directors. The Chair of the Board is Youna Le Berre Lemaire Lyons.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. They believe that the Charity's mission and approach are essentially driven by public interest and are of great benefit to the public.
The charity's object and principal activity have evolved since its establishment in 1952. When its initial sustained contribution to and involvement in the work of the International Maritime Organisation (IMO), its primary focus was on oil pollution. Notably, in 1953, it invited all the parties to the 1948 SOLAS Convention to combat shipping pollution and contributed to the development of a new treaty, the 1954 OILPOL. Focus on oil pollution later evolved to supporting the prevention of marine pollution and the protection of the marine environment in general with a focus on sound science and the respect of international environmental law.
Following a renewal of the Board of trustees in 2019, ACOPS has been joined with new trustees, with the intention of continuing to expand the board of expertises from the different branches of interest and specialization that shape the development of marine and maritime activities and that ocean governance in general. The Board of Trustees is now composed of four trustees. Dr Philomène Verlaan resigned from her trustee’s position in December 2021 but continues to support ACOPS work in her areas of expertise, especially Deep Seabed Mining and geoengineering under the London Convention and its Protocol, as Special Adviser. Two new trustees joined us during this period: Dr Sian Prior and Mrs Jeanie Falconer.
ACOPS’ work is primarily driven by volunteers on a model of mutually beneficial volunteering. Volunteers bring their technical (and often specialized) knowledge, time, and/or interest in key marine issues of concern followed by ACOPS; for example on sources and environmental impacts of underwater noise or marine plastics in different ocean basins. In exchange, they get the rare opportunity to get training on applicable institutional and legal frameworks and on the development of policies in intergovernmental bodies that ACOPS has consultative bodies with. They also get to engage and collaborate with ACOPS’ multi-disciplinary, trans-sectoral and cooperative network and approaches.
In terms of activites, we pursued the same approach structured around the four following components:
- 1. Informing and engaging on the importance of oceans to humanity and the impacts of on going environmental stresses on oceans
Informing on root causes of marine pollution and associated issues and processes. This includes an
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Objectives, Principal Activities and Organisation (continued)
engagement to inform and explain these to young adults as well as the deep and varied paths of connection we, humans, have with the marine environment (seas and oceans and their biotic and abiotic parts);
2. Training and capacity building
Training young and senior professionals who contribute or aspire to contribute to the protection of the marine environment to the development of marine environmental policies in intergovernmental bodies and developing publicly available tools and content;
3. Advising on the preservation of the seas and oceans from pollution and degradation by human activities, natural processes and feedback mechanisms on the basis of international environmental law and policy and sound science
This includes support and contribution to intergovernmental meetings and working groups on marine environmental issues;
4. Engaging with our specialized network
Engaging and collaborating with our specialized network on these topics and envisage sustainable paths forward that take into account all fields of expertise needed to shape marine environmental policy (ie relevant natural sciences as well as social, economic, legal and political sciences). This network includes individuals as well as research institutions, businesses, domestic agencies and international organisations organized in different types and depth of engagement.
Developments, Activities and Achievements in the Year Financial review
Incoming resources amounted to £61,502 during the year (2023 - £5,803). This included grant funding of £61,502 (2023 - £NIL). Expenditure on projects and administration costs amounted to £23,538 (2023 - £6,188). At the 31 March 2024 the fund balances were £45,222 (2023 - £7,258).
Reserves policy
The charity is able to continue operating with a small reserves balance because it has very few fixed costs. If necessary, operations could be scaled back in line with incoming resources. Project donors do not provide funds in advance and in order to ensure that projects can continue the charity must make investment in projects prior to receiving grant awards. This continues to put severe pressure on the funds of the charity. However, the Trustees ensure that sufficient resources are held in an appropriate form to enable in particular restricted funds to be applied in accordance with the restrictions imposed. Details of the position of funds at the end of the year are given in the notes to the financial statements.
Investment Policy and Performance
Under the Memorandum and Articles of Association the charity has the power to make any investment which the Trustees see fit. The Trustees consider the most appropriate policy for investing funds and, being aware of the risks set out below, have determined that surplus cash when available should be placed on deposit with its bankers, the period of notice being governed by cash flow requirements and available funds.
Risk Management
The major risk the charity is exposed to arises from the need to pre-finance projects as referred to under the paragraph on reserves. The Trustees continue to seek alternative sources of finance.
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Youna Le Berre Lemaire Lyons Trustee
Date: 30 December 2024
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
Independent Examiner's Report to the Trustees of Advisory Committee on protection of the Sea ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of 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 part of an independent examination; or
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the accounts have not 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 with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Signed: Dated: 30 December 2024 Jack Fryer ACA
Hedley Dunk Limited
Chartered Accountant
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 53,480 53,480 14,454 14,454 39,026 - 39,026 39,026 |
Unrestricted funds 2024 £ 8,022 8,022 9,084 9,084 (1,062) 7,258 (1,062) 6,196 |
Total funds 2024 £ 61,502 61,502 23,538 23,538 37,964 7,258 37,964 45,222 |
Total funds 2023 £ 5,803 5,803 6,188 6,188 (385) 7,643 (385) 7,258 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 13 form part of these financial statements.
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA (A Company Limited by Guarantee) REGISTERED NUMBER: 01867863
BALANCE SHEET AS AT 31 MARCH 2024
| Note Fixed assets Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total net assets Charity funds Restricted funds 10 Unrestricted funds 10 Total funds |
138 49,328 49,466 (4,244) |
2024 £ 45,222 45,222 39,026 6,196 45,222 |
95 7,613 7,708 (450) |
2023 £ 7,258 |
|---|---|---|---|---|
| 7,258 | ||||
| - 7,258 |
||||
| 7,258 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 30 December 2024 and signed on their behalf by:
Youna Le Berre Lemaire Lyons Trustee
The notes on pages 8 to 13 form part of these financial statements.
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. General information
Advisory Committee on Protection of the Sea is a private limited company limited by guarantee, registered in the England under company number 01867863 and charity number 290776. The registered office is One Bartholomew Close, London, EC1A 7BL.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Advisory Committee on protection of the Sea meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Taxation
The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
2.8 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
3. Income from donations and legacies
| Donations Grants Total 2023 |
Restricted funds 2024 £ - 53,480 53,480 - |
Unrestricted funds 2024 £ - 8,022 8,022 5,803 |
Total funds 2024 £ - 61,502 61,502 5,803 |
Total funds 2023 £ 5,803 - |
|---|---|---|---|---|
| 5,803 | ||||
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. Analysis of expenditure on charitable activities
Summary by fund type
| Other Charitable Activities Total 2023 |
Restricted funds 2024 £ 14,454 - |
Unrestricted funds 2024 £ 9,084 6,188 |
Total 2024 £ 23,538 6,188 |
Total 2023 £ 6,188 |
|---|---|---|---|---|
5. Analysis of expenditure by activities
| Other Charitable Activities Total 2023 Analysis of support costs Legal & professional fees Contractors Sundry expenses Meeting expenses Travel Software Accountancy Fees Bank Charges |
Support costs 2024 £ 23,538 6,188 |
Total funds 2024 £ 23,538 6,188 Total funds 2024 £ 1,826 14,375 750 79 3,957 724 1,800 27 23,538 |
Total funds 2023 £ 6,188 |
|---|---|---|---|
| Total funds 2023 £ 1,363 3,221 300 - - 799 450 55 |
|||
| 6,188 |
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the independent | ||
| examination of the Company's annual accounts | 350 | - |
| Fees payable to the Company's independent examiner in respect of: | ||
| All other services not included above | 400 | 375 |
7. Trustees' remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
8. Debtors: Amounts falling due within one year
| Prepayments and accrued income 9. Creditors: Amounts falling due within one year Accruals and deferred income |
2024 £ 138 138 2024 £ 4,244 |
2023 £ 95 |
|---|---|---|
| 95 | ||
| 2023 £ 450 |
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10. Statement of funds
Current year
| Unrestricted funds General Funds Restricted funds Restricted Funds - all funds Total of funds Prior year Unrestricted funds General Funds |
Balance at 1 April 2023 £ 7,258 - 7,258 Balance at 1 April 2022 £ 7,643 |
Income £ 8,022 53,480 61,502 Income £ 5,803 |
Expenditure £ (9,084) (14,454) (23,538) Expenditure £ (6,188) |
Balance at 31 March 2024 £ 6,196 |
|---|---|---|---|---|
| 39,026 | ||||
| 45,222 | ||||
| Balance at 31 March 2023 £ 7,258 |
11. Summary of funds
Current year
| General funds Restricted funds |
Balance at 1 April 2023 £ 7,258 - 7,258 |
Income £ 8,022 53,480 61,502 |
Expenditure £ (9,084) (14,454) (23,538) |
Balance at 31 March 2024 £ 6,196 39,026 |
|---|---|---|---|---|
| 45,222 |
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ADVISORY COMMITTEE ON PROTECTION OF THE SEA
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
11. Summary of funds (continued)
Prior year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at | 31 March | ||||
| 1 | April 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | ||
| General funds | 7,643 | 5,803 | (6,188) | 7,258 |
12. Analysis of net assets between funds
| Current assets Creditors due within one year Total |
Restricted funds 2024 £ 39,026 - 39,026 |
Unrestricted funds 2024 £ 10,440 (4,244) 6,196 |
Total funds 2024 £ 49,466 (4,244) 45,222 |
|---|---|---|---|
13. Related party transactions
During the year the Charity received unrestricted donations from Trustees amounting to £NIL (2023 - £5,503) .
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