Charity registration number 800950
MEVAGISSEY HARBOUR AQUARIUM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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 2025
The Trustees present their annual report and financial statements for the year ended 31 March 2025.
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: .............................................
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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 2025.
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.
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:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 Date: ............................
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MEVAGISSEY HARBOUR AQUARIUM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 2 | 37,384 | 50,573 |
| Total income | 37,384 | 50,573 | |
| Expenditure on: | |||
| Charitable activities | 3 | 37,384 | 50,573 |
| Total expenditure | 37,384 | 50,573 | |
| Net income and movement in funds | - | - | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2024 | - | - | |
| Fund balances at 31 March 2025 | - | - |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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MEVAGISSEY HARBOUR AQUARIUM
BALANCE SHEET
AS AT 31 MARCH 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Net assets | - | - | ||||
| The funds of the Charity | - | - | ||||
| The financial statements were approved by the Trustees on ......................... | ||||||
| .............................. | ||||||
| Mr H St. Aubyn Bowles | ||||||
| Chair |
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MEVAGISSEY HARBOUR AQUARIUM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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.
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MEVAGISSEY HARBOUR AQUARIUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Unrestricted Funds | ||
| Donations | 37,384 | 50,573 |
3 Expenditure on charitable activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| Funds | Funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Aquarium expenditure | |||
| Staff costs | 20,598 | 21,578 | |
| Repairs and feeds | 1,560 | 888 | |
| Electricity | 4,500 | 4,296 | |
| 26,658 | 26,762 | ||
| Contributions paid, see Note 4 | 10,726 | 23,811 | |
| 37,384 | 50,573 | ||
| Analysis by fund | |||
| Unrestricted funds | 37,384 | 50,573 | |
| 4 | Contributions | ||
| Unrestricted | Unrestricted | ||
| Funds | Funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Contribution to Harbour funds | 10,726 | 23,811 |
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:
| 2025 | 2024 |
|---|---|
| Number | Number |
| 4 | 4 |
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MEVAGISSEY HARBOUR AQUARIUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 5 | Employees | (Continued) | |
|---|---|---|---|
| Employment costs | 2025 | 2024 | |
| £ | £ | ||
| Wages and salaries | 20,598 | 21,578 |
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.
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