**Charity registration number 800950** ## **MEVAGISSEY HARBOUR AQUARIUM** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **MEVAGISSEY HARBOUR AQUARIUM** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr H St. Aubyn Bowles|Chair| |---|---|---| ||Mr R Ingram|| ||Mrs C Mitchell|| ||Mr D Hunkin|| |**Administration**|Mr C Gilbertson|Clerk| |**Charity number**|800950|| |**Address**|The Harbour Office|| ||Island Quay|| ||Mevagissey|| ||St Austell|| ||Cornwall|| ||PL26 6QQ|| |**Independent examiner**|Jane Webb FCCA|| ||Phillips Frith LLP|| ||9 Tregarne Terrace|| ||St Austell|| ||Cornwall|| ||PL25 4DD|| |**Bankers**|Lloyds Bank Plc|| ## **MEVAGISSEY HARBOUR AQUARIUM** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1| |Independent examiner's report|2| |Statement of financial activities|3| |Balance sheet|4| |Notes to the financial statements|5 - 7| ## **MEVAGISSEY HARBOUR AQUARIUM** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ The Trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "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). ## **Objectives and activities** To advance public education in the field of marine biology including the study of fish found in Cornish waters, particularly by the provision and maintenance of an aquarium. To assist in the maintenance of Mevagissey Harbour Trustees (a working name of Mevagissey Piers and Harbour). ## **Structure, governance and management** The Charity is governed by the declaration of Trust dated 23 November 1988. The Trustees who served during the year and up to the date of signature of the financial statements were: Mr H St. Aubyn Bowles Chair Mr R Ingram Mrs C Mitchell Mr D Hunkin ## _Recruitment and appointment of trustees_ Vacancies for permanent members are advertised locally. Applicants must reside in or be rate payers of the Parish of Mevagissey. ## _Organisational structure_ The aquarium operates through a Board of Trustees, using staff members to oversee the day-to-day running of the aquarium and collect donations from members of the public. Any surplus in funds is transferred to the registered Charity 'Mevagissey Piers and Harbour' to assist them with the maintenance and running of the harbour. The Trustees' report was approved by the Board of Trustees. .............................. Mr H St. Aubyn Bowles ## **Chair** Date: ............................................. - 1 - ## **MEVAGISSEY HARBOUR AQUARIUM** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF MEVAGISSEY HARBOUR AQUARIUM** I report to the Trustees on my examination of the financial statements of Mevagissey Harbour Aquarium (the Charity) for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). Having satisfied myself that the accounts are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** The Charity’s gross income did not exceed £250,000 and I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 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 that in any material respect: - 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. - 4 the financial statements 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 financial statements to be reached. ## **Jane Webb FCCA** Phillips Frith LLP 9 Tregarne Terrace St Austell Cornwall PL25 4DD Dated: ......................... - 2 - ## **MEVAGISSEY HARBOUR AQUARIUM** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Charitable activities|**2**|50,573|33,265| |**Total income**||50,573|33,265| |**Expenditure on:**|||| |Charitable activities|**3**|50,573|33,265| |**Total expenditure**||50,573|33,265| |**Net income and movement in funds**||-|-| |**Reconciliation of funds:**|||| |Fund balances at 1 April 2023||-|-| |**Fund balances at 31 March 2024**||-|-| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 3 - ## **MEVAGISSEY HARBOUR AQUARIUM** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2024**_ |||**2024**|||**2023**|| |---|---|---|---|---|---|---| |**Notes**|**£**||**£**|**£**||**£**| |**Net assets**|||-|||-| |**The funds of the Charity**|||-|||-| |The financial statements were approved by the Trustees on .........................||||||| |..............................||||||| |Mr H St. Aubyn Bowles||||||| |**Chair**||||||| - 4 - ## **MEVAGISSEY HARBOUR AQUARIUM** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **Charity information** Mevagissey Harbour Aquarium is a Charity, governed by a Board of Trustees. The address of the registered office is Harbour Office, Island Quay, Mevagissey, St Austell, Cornwall, PL26 6QU. ## **1.1 Accounting convention** The Charity's financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to the charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102)) (second edition - October 2019) and the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102). The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transactional value. The principal accounting policies adopted are set out below. The financial statements have been prepared on the assumption that the Charity is able to carry on as a going concern. The Trustees have no material uncertainties about the Charity's ability to continue. ## **1.2 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. ## **1.3 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. ## **1.4 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 are allocated on the portion of the asset’s use. ## **1.5 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. - 5 - ## **MEVAGISSEY HARBOUR AQUARIUM** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **2 Income from charitable activities** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||**Aquarium income**||| ||Donations and loft income|50,573|33,265| |**3**|**Expenditure on charitable activities**||| |||**Unrestricted**|**Unrestricted**| |||**Funds**|**Funds**| |||**2024**|**2023**| |||**£**|**£**| ||**Aquarium expenditure**||| ||Staff costs|21,578|21,112| ||Repairs and feeds|888|4,480| ||Electricity|4,296|3,100| |||26,762|28,692| ||**Contributions paid, see Note 4**|23,811|4,573| |||50,573|33,265| ||**Analysis by fund**||| ||Unrestricted funds|50,573|33,265| |**4**|**Contributions**||| |||**Unrestricted**|**Unrestricted**| |||**Funds**|**Funds**| |||**2024**|**2023**| |||**£**|**£**| ||Contribution to Harbour funds|23,811|4,573| It is the Charity's policy to contribute any surplus funds to the benefit of 'Mevagissey Piers and Harbour'. ## **5 Employees** The average monthly number of employees during the year was: |**2024**|**2023**| |---|---| |**Number**|**Number**| |4|4| - 6 - ## **MEVAGISSEY HARBOUR AQUARIUM** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**5**|**Employees**||**(Continued)**| |---|---|---|---| ||**Employment costs**|**2024**|**2023**| |||**£**|**£**| ||Wages and salaries|21,578|21,112| There were no employees whose annual remuneration was more than £60,000. ## **6 Taxation** Mevagissey Harbour Aquarium is a registered Charity and is thus exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that those are applied to its charitable objects. No tax charges have arisen in the Charity. There was no UK Corporation Tax payable by Mevagissey Harbour Aquarium in either period. - 7 -