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2025-09-30-accounts

ANNUAL REPORT & FINANCIAL STATEMENTS 2024/25

FOR THE YEAR ENDED 30 SEPTEMBER 2025 REGISTERED NUMBER 11444362 CHARITY NUMBERS 1185265 & SC049896

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CONTENTS

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NORDCSEAS
Navigating the
Future VI
NORWEGANCURRENT PacngtheOceanwthnthewderEarthsystem
NORTHATLANTIC
SUBPOLARGYRE
NORTHATLANTCCURRENT
GULFSTREAM
04 SUBTROPCALGYRE 06 08 10 12
EXPLORING FORECASTING SUPPORTING SECURING AGAINST HELPING NAVIGATE
UNDERWATER CLIMATE TIPPING A HEALTHY AND MARINE RELATED GLOBAL ENVIRONMENTAL
EXPLOSIVITY POINTS PRODUCTIVE OCEAN DISASTERS CHANGES
14 18 22 26 30
RAISING OCEAN TACKLING GLOBAL ADVANCING GLOBAL ENABLING GLOBAL UNDERPINNED BY
AWARENESS AROUND CHALLENGES TOGETHER OCEAN SCIENCE SCIENTIFIC EXPLORATION SUSTAINABILITY AND
THE WORLD RRS DISCOVERY RRS JAMES COOK SOCIAL RESPONSIBILITY
02 39 42 51 59
FOREWORD BY OUR CHARITABLE OUR PEOPLE STATEMENT OF TRUSTEES’ CONSOLIDATED STATEMENT
THE CHAIR OF TRUSTEES OBJECTIVES RESPONSIBILITY OF CASH FLOWS
02 40 43 52 60
REPORT OF GOVERNANCE OUR VALUES INDEPENDENT AUDITOR’S NOTES TO THE FINANCIAL
THE CHIEF EXECUTIVE ARRANGEMENTS REPORT STATEMENTS
04 41 44 55
DIRECTORS’ AND PLANS FOR FUTURE STREAMLINED ENERGY CONSOLIDATED STATEMENT
TRUSTEES’ REPORT PERIODS AND CARBON REPORTING OF FINANCIAL ACTIVITIES
36 41 48 57
MANAGEMENT, STRUCTURE REFERENCE AND RISK MANAGEMENT CONSOLIDATED BALANCE
AND GOVERNANCE ADMINISTRATIVE DETAILS STATEMENT SHEET
39 42 49 58
PUBLIC BENEFIT SECTION 172 FINANCIAL REVIEW CHARITY BALANCE
STATEMENT STATEMENT SHEET
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01

Dr Hosein Khajeh-Hosseiny Chair of NOC Innovations, Dr Khajeh-Hosseiny brings expertise in venture capital, technology innovation, and governance, with experience at McKinsey & Company and several other trustee roles. John Clarke Deputy Chair of NOC Innovations, Mr Clarke has a background in business technology, AI, and innovation, and chairs Companies House and UKSBS (UK Shared Business Services). Professor Lisa Collins NOC Board member, Pro-Vice-Chancellor for Research and Innovation at the University of Surrey, Professor Collins contributes considerable experience in research leadership, strategic advisory roles, and science communication.

▲ CrewaboardRRS Discovery preparingcoringequipmentinSantoriniattheKolumbovolcanoes,investigatinghow high-temperaturefluidflowandhydrothermalventinginfluencetheexplosivityofsubmarinevolcaniceruptions.

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REPORT OF THE CHIEF EXECUTIVE
Overthepasttwelvemonths,theNationalOceanographyCentrehasnavigatedacomplexand
evolvinglandscapewith resilience, ambition, and a clear strategic focus. Despite significant
challenges in the traditional funding environment, we have made remarkable progress in
diversifying our income, strengthening our partnerships, and enhancing our visibility both
nationally and internationally.
The licensing of autonomous technologies, growing collaborations with industry and
defence, and the expansion of international relationships are testament to the organisations
forward-thinking approach. These achievements not only offset the challenges of reductions
in NERC-UKRI national capability funding but also demonstrate the value of our strategic pivot
towards delivering tangible societal impact.
We are proud of our growing influence in shaping marine science policy and practice. Our
collaborations with the MOD, Defra, and international partners are expanding our reach and
impact. Locally, our role in the Solent regions devolution plans positions NOC as a catalyst for
marine innovation and prosperity. In Liverpool, our expertise in tides, surface waves and sea
level is increasingly demonstrating its value as we see a rise in climate-related events around
the world and a growing investment in marine renewables.
Our 2025–2035 strategy launched in October 2025, at a critical time when ocean science
is proving to be fundamental to all our lives. The science that NOC delivers is broad and
wide-reaching, and this year we have laid the foundations to be ready to launch our new
strategy and drive our four core missions: Climate, Biodiversity, Hazards and Pollution, and
the Sustainable Blue Economy.
Internally, we are investing in our people, with the recruitment of a director of people and
culture and successfully continuing to foster a vibrant, inclusive and empowered workforce.
Our visibility continues to rise internationally and within the UK, with strong representation
at global forums, successful public and education engagement events, and media coverage
that brings ocean science to new audiences.
As we look ahead, we remain focused on launching and delivering our new strategy, ensuring
that our activities deliver value to society and gain a deeper knowledge of the ocean whilst
maintaining a vibrant and healthy workforce and providing financial resilience. We are
optimistic about the future and confident that NOC is well-positioned to thrive in this new era of
ocean science.
PROFESSOR JOHN SIDDORN
FOREWORDBYTHECHAIROFTRUSTEESANDREPORTOFTHECHIEFEXECUTIVE 03
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SUPPORTING
A HEALTHY
AND
PRODUCTIVE
OCEAN
SUPPORT SUSTAINABLE DEVELOPMENT
PROTECTING THE OCEAN'S FUTURE HEALTH
In a world where the ocean holds the key to both economic prosperity and
environmental stability, NOC is a dedicated steward, working to support
both. From fisheries to shipping and from renewable energy to tourism,
marine-based industries offer vast economic potential. However, this
potential comes with a profound responsibility.
We aim to facilitate the sustainable growth of these industries while safe-
guarding the very ecosystems that underpin their existence. We provide
the evidence and expertise that empower decision-makers, industries
and communities to make informed choices. Better informed, they can
propel marine-based economies forward for the benefit of people, without
compromising the future health of our ocean.
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▲ TheClarionClippertonZoneishometouniqueandbiodiversedeep-seacreatures. CredtNatonaOceanography CentreandTrusteesoftheNaturaHstoryMuseumwthacknowedgementtotheNERCSMARTEXproect

UNDERSTANDING LONG-TERM IMPACTS AND RECOVERY FROM DEEP-SEA MINING

We led a ground breaking study revealing the long-term effects of deep-sea mining on the Pacific Ocean seabed, 44 years after industrial trials. Conducted in the Clarion Clipperton Zone,theresearchfoundlastingsedimentdisturbancesbutearlysignsofbiologicalrecovery, especially among small, mobile species. Larger, fixed seabed animals showed limited recovery, highlighting the varied ecosystem response.

Enabled by the RRS James Cook and the Isis remotely operated vehicle (ROV), our international team provided critical evidence to inform the global deep-sea mining debate and guide policy decisions by the International Seabed Authority. This research is essential for balancing marine resource development with ocean health. Our scientific research can enable policy makers and others to make decisions as people increasingly turn to the ocean to address major societal challenges.

ADVANCING DEEP-SEA RESEARCH THROUGH GLOBAL MARINE ROBOTICS PARTNERSHIP

SUPPORTING SUSTAINABLE OFFSHORE WIND GROWTH WHILE PROTECTING OCEAN HEALTH

We signed an international agreement with Madeira Islands Regional Agency for the Development of Research, Technology and Innovation (ARDITI) to supply two of our cuttingedge Autosub Long Range (ALR) autonomous underwater vehicles. This partnership supports sustainable ocean science and strengthens Madeiras role as a hub for deep-sea research and innovation.

We are actively contributing to the UKs ambitious offshore wind expansion through our involvementintwomajormultidisciplinaryprogrammes,ECOWindandECOFlow,focusedon growingmarineeconomieswhilesafeguardingoceanhealth.Theseprojectsinvestigatehow offshore wind farms impact marine ecosystems—from plankton productivity and seabird feeding grounds to seabed habitats and species distribution.

Our ALRs, developed over 30 years, enable low-impact, long-duration data collection down to 6,000 m without the need for crewed vessels—advancing marine science while reducing environmental footprint. One ALR will support water column research, the other seabed mapping. Both will assist regional efforts to meet EU directives and expand uncrewed research capabilities. This collaboration promotes global access to UK-developed marine robotics and supports marine-based economic growth through technology transfer and shared innovation. It also builds capacity and fosters international cooperation to protect and better understand the oceans health for future generations.

Using advanced oceanographic models and autonomous robotic systems, we study effects such as seabed disturbance, vibration impacts, and changes in ocean mixing and stratification. Our research supports sustainable marine spatial planning and informs policies to balance offshore wind development with climate change challenges. Through detailed seabed mapping and ecosystem analysis, we aim to predict and mitigate future environmental impacts, ensuring offshore wind growth aligns with long-term ocean health. By integrating science and technology, we help unlock renewable energy potential while protecting marine biodiversity and ecosystem services.

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▲ AutosubLongRange(ALR),anautonomousunderwatervehicledesignedfordeep-seaexplorationand ▲ SlocumglidersrecoveredfromtheNorthSeaafterquietlypatrollinganareadownwindofamajorwindfarm,off
extendedscientificmissions. Scotlandseastcoast.
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SECURING
AGAINST
MARINE
RELATED
DISASTERS
PROTECT PEOPLE AND ECONOMIC INFRASTRUCTURE
FROM MARINE-RELATED DISASTERS
As our environment changes, the risks to human lives and economic
infrastructure are growing.
Weacttosafeguardcoastalregionsandindustriesagainstawidespectrum
of marine-related disasters, from formidable storms and tsunamis to the
dangers posed by rising sea levels and coastal erosion.
Our goal is to empower communities and industries with the tools and
knowledge they need to prepare for potential disasters, but also to
respond effectively and recover swiftly.
We achieve this through a multifaceted approach using the latest research,
data-driven forecasting, and innovative solutions that strengthen
resilience and protect lives and livelihoods.
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REVEALING MICROPLASTIC HOTSPOTS THREATENING OCEANS AND COASTAL COMMUNITIES

We collaborated with the University of Rhode Island to analyse microplastic pollution collected during The Ocean Race, revealing Europe as a major hotspot. Our advanced methods detected microplastics as small as 0.03 millimetres across the ocean, including remote areas like the Southern Ocean. On average, samples contained 4,789 microplastics per cubic metre, with concentrations highest near South Africa and European waters.

About 70% of these particles were microfibres from textiles and fishing gear, known to harm marine ecosystems and potentially human health. These findings highlight the urgent need for global action to reduce plastic pollution and protect marine environments, coastal communities, and economic infrastructure from related risks. Through this partnership and our research, we aim to close knowledge gaps on plastic spread and impacts, supporting efforts to mitigate marine pollution and its threats.

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3WEEKSJULY09~40C EXAMPLESOFSEAGRASSRESTORATONSTES
EXAMPLESOFRECORDEDMARNEHEATWAVEEVENTS
O ONLYAUTUMN&WNTER 2 [MULT-STRESSOR]
MORENTENSE
BUTSHORTER
2MONTHSJUNE18~25C
2WEEKSJUNE23~40C
O2MULT-STRESSOR
ONLYAUTUMN&WNTER
O2 [MULT-STRESSOR]
15MONTHSJULY22~20C
LONGERBUT
MODERATENTENSTY
ANUARY075MONTHS~15C
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PREPARING THE UK FOR RISING RISKS FROM MARINE HEATWAVES

We have identified hotspots for marine heatwaves in UK waters, particularly in the Southern North Sea and English Channel. Our study, led by Dr Zoe Jacobs, reveals these events tend to be longer lasting though less intense than elsewhere. Marine heatwaves, driven by climate change, threaten marine ecosystems causing impacts such as coral bleaching, harmful algal blooms, and mass mortality of fish and seabirds.

Our models also show risks of low oxygen near the seafloor, affecting benthic habitats. Following the unprecedented June 2023 heatwave, with ocean temperatures 5°C above average, we urged for more targeted research to improve UK resilience. Though severe marine heatwaves are currently rare here, climate change will increase their frequency, intensity and duration. Learning from global experiences is vital to protect people, marine life and economic infrastructure from these escalating marine disasters.

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13,598 m 20
SEDIMENT CORES IN STORAGE BOSCORF PARTNER INSTITUTES
37
8,985
SUBSAMPLES COLLECTED UNIQUE USERS
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ADVANCING SEAGRASS RESTORATION TO PROTECT COASTS AND FIGHT CLIMATE CHANGE

We are proud to lead groundbreaking research on UK seagrass restoration through a new programme with Climate Impact Partners, Deloitte and Project Seagrass. Seagrass meadows capture carbon faster than forests and protect coastal ecosystems but have suffered major losses worldwide.

Using cutting-edge technology at our Southampton site and sediment cores from our British Ocean Sediment Core Research Facility (BOSCORF), we are revealing how quickly seagrass stores carbon. This evidence will underpin a seagrass carbon code and blue carbon framework to unlock large-scale financing for restoration. Our work supports biodiversity, coastal protection and climate mitigation, turning decades of seagrass decline into opportunity. Together with our partners and funders, we are accelerating restoration to safeguard marine ecosystems, support communities and combat climate change through nature-based solutions.

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926 m 26
OF SEDIMENT CORES ANALYSED ANALYSIS REQUESTS
806 15
HOURS OF ANALYSIS SAMPLE REQUESTS
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li •*

▲ InsidetheROVIsiscontrolroomaboardRRS Discovery ,theteammonitorreal-timedataandguidedeep-sea operationswithpinpointaccuracy,enablingliveobservationofvolcanicandhydrothermalactivity.

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EXPLORING
UNDERWATER
EXPLOSIVITY
Our HYDROMOX expedition took us into the Mediterranean to unlock the secrets of explosive
submarine volcanoes using cutting-edge technology. Deploying our remotely operated
vehicle (ROV) Isis and advanced underwater sensors, the team mapped high-temperature
hydrothermal venting, some exceeding 200°C, and fluid pathways beneath the Santorini
and Kolumbo volcanoes. This innovative approach reveals how circulating fluids interact
with magma to influence eruption explosivity, a critical but poorly understood factor in
underwater volcanic hazards.
By combining geophysical, geological, and geochemical methods, the expedition will offer new
insights into the triggers of powerful eruptions, including those capable of generating tsunamis
and disrupting coastal infrastructure. Monitoring concurrent earthquake activity further
enhances understanding of seismic-volcanic links.
This research, featured by the BBC and covered extensively by national and international media,
directly benefits society by improving early-warning capabilities for submarine volcanic hazards,
safeguarding vulnerable coastal communities and critical infrastructure. The NERC-funded
HYDROMOX project represents a leap forward in forecasting and mitigating risks from some of
the worlds most dangerous and least accessible volcanoes.
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HELPING
NAVIGATE
GLOBAL
ENVIRONMENTAL
CHANGES
MAKING SENSE OF GLOBAL ENVIRONMENTAL CHANGES IN
WHICH THE OCEAN IS DEEPLY IMPLICATED
Inaneradefinedbyrapidenvironmentaltransformation,NOCisdedicated
to unravelling the intricate connections between the ocean and global
environmental changes. As a barometer and a driver of environmental
change,theoceaninfluencesclimatepatterns,sea-levelriseandecosystem
dynamics.
Our goal is to bring clarity to the complexity of these relationships.
Through our research and insights, we provide policymakers, scientists
and communities with the knowledge needed to make informed decisions,
guiding us collectively towards a more sustainable and resilient future in
harmony with the natural world.
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Working together to manage Clean and safe waters available
our Ocean interactions to all communities
CO2
An Ocean that is no longer impacted A biodiverse Ocean that continues
by climate change to provide ecosystem services
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Requirements

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– Accessible data
– Input for the DigitalTwin
of the Ocean
– Sustained Ocean observations – People trained to collaborate
– Balance between needs – Research on impact of
and resources multiple stressors
€
₤
– Sustained, long-term research funding – Harmonised Ocean-coastal-land
– Substantial, sustainable Ocean finance management approaches
– Sustainable and equitable marine science
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Navigating the
Future VI
Placing the Ocean within
the wider Earth system
Navigating the
Future VI
Placing the Ocean within
the wider Earth system
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UNITING TO GUIDE POLICY ON GLOBAL OCEAN CHANGE

Leading European ocean scientists, including NOCs Dr Katya Popova, launched Navigating the Future VI (NFVI), a key advisory report for governments and policymakers. This flagship publication by the European Marine Board highlights the oceans crucial role in Earths system and outlines urgent multidisciplinary research priorities to address global environmental challenges. NFVI calls for sustained ocean observations, integrated digital data, and enhanced governance across land, coastal, and ocean interfaces.

It emphasises understanding the impacts of multiple stressors on marine ecosystems and advocates for sustainable financing and long-term funding. The report also stresses the need for cross-disciplinary training and more equitable, sustainable practices within marine science itself. Developed by 33 experts from 16 countries over two years, NFVI supports the UN Decade of Ocean Science and EU ocean initiatives, guiding collaborative efforts to ensure the ocean continues to protect the planet and society.

WE ADVANCE CLIMATE SCIENCE BY IMPROVING OCEAN TEMPERATURE RECORDS

Dr Elizabeth Kent was awarded an MBE for her decades of work improving historical sea surface temperature records. As Associate Head of our Marine Physics and Ocean Climate group, Lizs research is vital in refining long-term global ocean temperature data, essential for understanding human-driven climate change.

Her expertise in how past sea temperatures were measured, often from canvas buckets aboard ships, has helped resolve anomalies like the early 20[th] -century cold period, revealing it resulted from changing measurement methods. By meticulously analysing data from ships since the 19[th] century, Liz ensures scientists have the highest quality records underpinning major climate assessments such as the IPCC (the Intergovernmental Panel on Climate Change) reports. Her work reflects our commitment to making sense of global environmental changes deeply linked to the ocean, improving climate knowledge, and supporting informed decision-making worldwide.

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RAISING
OCEAN
AWARENESS
AROUND
THE WORLD
EDUCATE HUMANKIND TO UNDERSTAND SCIENTIFIC
EVIDENCE ABOUT THE OCEAN’S ROLE IN OUR LIVES
Our one ocean is not merely a distant realm, it is an integral part of our
daily lives, influencing weather patterns, regulating our climate, and
providing sustenanceforbillions.Asaleadingoceanresearchorganisation,
we provide scientific evidence to inform discussions, evoke wonder and
enhance awareness of the ocean's immense significance.
Ourexpertresearchers,engineersandambassadorsengagewithadiverse
rangeofstakeholders—fromlocalcommunitygroupsandschools—to
nationalandinternationalchangemakers,tofosteradeeperunderstanding
oftheocean'sprofoundimpactonourworld.
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▲ TheUKHouseofCommonsEnvironmentalAuditCommitteevisitedtheNationalOceanographyCentre, Southampton,wheretheyheardfrommarinescientistsandoceanographers,suchasDrTammyHorton.

CHAMPIONING OCEAN UNDERSTANDING THROUGH GLOBAL POLICY ENGAGEMENT

Thisyear,weplayedapivotalroleintheIntergovernmentalConferenceontheBBNJ(Biodiversity Beyond National Jurisdiction) Agreement, advocating for the ocean by ensuring scientific evidence shaped global policy on biodiversity beyond national jurisdiction. Serving as the UKs scientificadvisor,weworkedcloselywithgovernmentpartnerstocommunicatetheimportance ofhighseasresearchandtheneedforequitableaccesstomarineknowledgeandtechnology.

By engaging directly in international negotiations, we helped build understanding of the oceans role in climate, biodiversity and human well-being. Our involvement ensured that the voices of the UK marine science community were heard on the world stage and that the outcomes of the BBNJ Agreement support both conservation and the advancement of ocean knowledge for the benefit of all.

INSPIRING OCEAN CURIOSITY AT THE CARDIFF NERC SHOWCASE

Last year, we were proud to partner with NERC and Techniquest to deliver the Archwiliwch ein planed – Explore our Planet’ public engagement showcase in Cardiff. Over three days, more than 3,000 visitors—including families, school groups, policymakers and community leaders—experienced ocean science first-hand through our interactive exhibits, talks and demonstrations.

A highlight was welcoming the public aboard the RRS James Cook , where our scientists shared what life and research at sea are really like. We showcased cutting-edge marine technology and research, from the secret life of seals to Antarctic exploration gear, inspiring curiosity about the oceans role in our lives. By engaging diverse audiences, we helped foster greater understanding of environmental science and encouraged the next generation to get involved in protecting our planet.

FORGING INTERNATIONAL PARTNERSHIPS AND INSPIRING FUTURE OCEAN LEADERS IN LISBON

Earlier this year, we brought the RRS Discovery to Lisbon for a month, strengthening ties with the Portuguese marine science community. Supported by the British Embassy, we welcomed local scientists, officials and school groups on board, sharing our latest research on Atlantic Ocean circulation through the RAPID-AMOC project.

We showcased the ships advanced technology and highlighted the UKs leadership in ocean science while fostering collaboration with Portuguese institutions. Public outreach activities inspired young people and raised awareness of the oceans role in climate and society. This visit reinforced our shared commitment to marine research and the UN Ocean Decade, building lasting partnerships to address global ocean challenges together.

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WORLD OCEAN DAY OPEN DAY 2025

In June 2025, we celebrated World Ocean Day with an open day at our Southampton centre. On 6 June, four local schools joined us for a special schools day, where students engaged with interactive exhibits and met our scientists, sparking their curiosity about the oceans role in climate and biodiversity.

The main event on 8 June welcomed families and visitors who enjoyed live talks, facility tours and demonstrations of cutting-edge marine technology. In total, over 2000 attendees across the two events learned how our research addresses global challenges like climate change and ocean health. We offered a unique chance to connect with the science and people behind it, strengthening community ties and inspiring a deeper appreciation for the oceans that sustain us all.

CELEBRATING OCEAN HOPE AT THE GLOBAL FILM PREMIERE WITH SIR DAVID ATTENBOROUGH

Earlier this year, we were honoured to take part in the world premiere of 'Ocean with Sir David Attenborough'atLondonsRoyalFestivalHall,alandmarkeventthatbroughttogetherscientists, filmmakers and global leaders to spotlight the oceans vital role in our lives. We contributed scientific expertise to the films development, ensuring the latest discoveries and challenges were powerfully communicated to a worldwide audience.

The premiere, attended by King Charles III, inspired urgent conversations about marine protection and climate action, aligning with the UN Ocean Decade and UN Ocean Conference. Our involvement helped amplify the films message of hope and recovery, advocating for

a healthier ocean and a sustainable future for all.

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2,084
OPEN DAY ATTENDEES
ACROSS TWO DAYS
23
UNIQUE EXHIBITS ACROSS
SIX LOCATIONS
125
PUPILS ATTENDED FROM
EIGHT LOCAL SCHOOLS
16
TEACHERS SUPPORTED
ON THE SCHOOLS DAY
157
STAFF & STUDENTS
SUPPORTED THE EVENT
▲ VisitorsofallagesexplorethemicroscopicworldduringourWorldOceanDay2025event,wherewewelcomed ▲ LondonsSouthbankCentrefilledwithvisitorsexploringouroceanscienceexhibitionduringtheworldpremiere
over2000peopletoourSouthamptonsitetoengagewithoceansciencethroughexhibits,talksandtours. ofOceanwithSirDavidAttenborough—acelebrationofmarineresearch,hopeandglobalcollaboration.
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INSPIRING DISCOVERY AND CONNECTION AT THE DUNDEE SHOWCASE 2025

In September 2025, we hosted the NOC Dundee Showcase, supported by NERC, as part of a major public engagement initiative. Visitors had the unique opportunity to tour the RRS Discovery andtakepartinavarietyofeventsinpartnershipwiththeDundeeHeritageTrust.

The showcase featured interactive exhibits, talks and hands-on science activities that inspired families, young people, school groups and policymakers about the importance of ocean and environmental science. The event connected diverse audiences with the latest marine research, highlighted the UKs leadership in ocean exploration and celebrated our shared heritage in marine discovery.

Entry was free and most activities were open to everyone, reflecting our commitment to engaging and educating the public about the oceans vital role in our lives.

ADVANCING OCEAN POLICY AND SCIENCE AT WESTMINSTER

We hosted a high-profile networking event in Parliament, bringing together scientists, policymakers and stakeholders to highlight the importance of ocean research for the UKs future. WithsupportfromMPBarryGardinerandinspiringtalksbyMPTristanOsborneandProfessorJohn Siddorn,we highlighted the future of ocean research and collaboration. The event helped raise awareness of the oceans vital role in climate, biodiversity and sustainable resources, reinforcing our commitment to engaging people in protecting and valuing the ocean for generations to come.

MEDIA STATISTICS

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926,772 3,296 19.3billion
UNIQUE WEBSITE PIECES OF MEDIA TOTAL MAINSTREAM
PAGE VIEWS COVERAGE MEDIA REACH
5,110 52 76,560
OCEAN NEWS WEBSITE NEWS WEBSITE NEWS
EMAIL SUBSCRIBERS STORY PUBLISHED STORY PAGE VIEWS
326.5million 79,102 23.85 %
TOTAL SOCIAL TOTAL SOCIAL AVERAGE SOCIAL
MEDIA AUDIENCE MEDIA REACH MEDIA ENGAGEMENT
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NORDIC SEAS
NORWEGIAN
CURRENT
NORTH ATLANTIC
SUBPOLAR GYRE
NORTH ATLANTIC
CURRENT
GULF STREAM
SUBTROPICAL GYRE
16
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NORWEGIAN CURRENT

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FORECASTING
CLIMATE
TIPPING POINTS
We are leading innovative research into one of Earths most critical climate tipping points:
the potential collapse of the Atlantic Subpolar Gyre. With more than £11 million from the UKs
Advanced Research + Invention Agency (ARIA), we are leading three, and partnering in five of
eight national projects under the £81 million “Forecasting Tipping Points” programme.
The Subpolar Gyre, just south of Greenland and Iceland, drives vital heat transport in the global
ocean system—its collapse could severely disrupt climate, food security and global stability.
NOC-led projects are AEROSTATS, exploring high altitude sensing platforms like airships; Full
Ocean Fibre, converting telecom cables into real-time ocean sensors; and SORTED, applying
AI to improve prediction accuracy. These pioneering efforts aim to detect early warning signs
of gyre collapse.
NOC is also supporting five additional projects across UK institutions, advancing ocean sensing,
modelling, and robotic systems to better prepare society for potential future climate shifts.
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TACKLING
GLOBAL
CHALLENGES
TOGETHER
ADDRESS ISSUES OF NATIONAL IMPORTANCE REQUIRING
INTERDISCIPLINARY SCIENCE—A STRONG EMPHASIS ON
GLOBAL INFLUENCE
In our contemporary world, the challenges confronting the ocean are
intricate and interwoven, yet also extend beyond mere geographic borders.
NOC bridges these gaps. Through holistic, cooperative approaches we
unite experts from diverse fields to confront pressing matters head-on.
We nurture international collaborations that both enhance scientific
knowledge and contribute to the collective efforts of nations in addressing
shared challenges. With visionary leadership, we are pioneers in tackling
the multifaceted issues facing our ocean, making us a global leader in the
realm of multidisciplinary science.
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▲ PreparingaCTDinstrumentfordeploymentaspartofourRAPIDprogramme—justoneofthewaysweare advancingourunderstandingofAtlanticOceancirculationanditsroleinglobalclimate.

ADVANCING CLIMATE AND OCEAN OBSERVING FOR NATIONAL AND GLOBAL BENEFIT

We are proud to be leading the UKs contribution to the Climate Consequences of Rapid Ocean Changes' (CCROC) programme. Due to complete in early 2026, this is a major UK-US initiative addressing rapid changes in the Atlantic Ocean and their consequences for climate.

Through CCROC we have brought together expertise in ocean physics, biogeochemistry, and modelling to tackle issues vital to the UKs climate resilience and global understanding. Our leadership of the ROCCA (Role of the Overturning Circulation in Carbon Accumulation) and MEZCAL (Methods for Extending the horiZontal Coverage of the Amoc Latitudinally

and retrospectively) projects is focusing on how changes in the AMOC (Atlantic Meridional Overturning Circulation) affect carbon storage and on developing new methods to extend AMOC observations across wider regions and timescales.

Our commitment to interdisciplinary science and global impact is matched by our leadership of the RAPID array at 26°N, a flagship observing system that has provided continuous measurements of the AMOC for over twenty years. RAPID has transformed our ability to monitor and understand ocean circulation, underpinning both national climate preparedness and international research. We are now driving the RAPID-Evolution programme to create a more sustainable, lower-cost observing system that will secure vital data for decades to come.

By combining long-term sustained observations with cutting-edge research in CCROC, we ensure our science informs UK policy. Our work exemplifies the power of collaboration and innovation to address issues of national importance with a truly global influence.

TACKLING ARCTIC AND SUBPOLAR CHANGE THROUGH INTERDISCIPLINARY SCIENCE

This year, we made major advances in addressing issues of national importance through our leadership in the BIOPOLE (Biogeochemical processes and ecosystem function in changing polar systems and their global impacts) and NOC-led ReBELS (Resolving Biological carbon Export in the Labrador Sea) programmes. In BIOPOLE, we led Arctic field campaigns and deployed autonomous technologies to track how climate-driven changes in glacial melt and sea ice are altering nutrient flows and carbon cycling, providing new insights into the resilience of Arctic ecosystems and their role in global carbon uptake.

Our ReBELS 2025 expedition to the Labrador Sea brought together scientists and creative practitioners, with the Royal College of Art collaborating alongside our teams to design innovative ways of communicating and visualising complex Arctic and subpolar ocean data. By integrating observation, modelling and interdisciplinary partnership, including the arts, we ensure our science has global influence and informs policy at home and worldwide.

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DESIGNING OCEAN FUTURES: SCIENCE MEETS STRATEGIC FORESIGHT

We partnered with the Royal College of Art (RCA) to unite world-leading ocean science with design-led innovation, addressing urgent national and global marine challenges through interdisciplinarycollaboration.Aspartofthis,FuturesNow,afive-daysprintledbyRCAalumni, broughttogetherdesigners,oceanscientists,andsystemsthinkerstoexploredeep-seaethics, Arctic knowledge-sharing, blue carbon justice and coastal resilience.

The resulting exhibition demonstrated how futures thinking—grounded in science and driven by care—can advance climate justice, foster public engagement, and enable systems-level change. Our Memorandum of Understanding with the RCA formalises this partnership, focusing on resilient communities, ocean observing systems, and the role of big data and robotics. This collaboration supports the UN Ocean Decade and reflects our belief that transformative impact requires more than technical solutions—it demands new tools, shared languages and bold partnerships to shape a sustainable future for our ocean and society.

EXPLORING OCEAN FUTURES THROUGH SCIENCE, SOCIETY AND STORYTELLING

Through our annual Socio-Oceanography Workshop, we brought together researchers from across the globe to explore the human dimensions of ocean science in a time of rapid environmental change. From community-led coral monitoring to climate-driven species shifts, we examined how inclusive interdisciplinary approaches can improve outcomes for both science and society.

Using techniques like plural futures storytelling and fictional persona, participants engaged with the ethical, emotional and political complexities of issues such as marine carbon dioxide removal, ecosystem change and species migration. We explored how scientific research is shaped by social context, and why long-term impact requires dialogue between natural and social sciences, policymakers, and coastal communities. As a national centre with global reach, we are committed to rethinking marine research in ways that centre justice, inclusivity and real-world relevance, helping to shape sustainable futures for the ocean, its ecosystems and the people who depend on them.

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407 729 DATA DEPOSITS DATASETS WITH A DIGITAL RECEIVED OBJECT IDENTIFIER (DOI) 73.76 % 32.5m OF ARGO PROFILES WERE CALLS TO THE NERC DELAYED-MODE QUALITY VOCABULARY SERVER CONTROL 32,430,007 577m 8,096 GEBCO WEB MAP ARGO PROFILES DELIVERED SERVICE CALLS TO THE MET OFFICE IN REAL TIME 194,189,868

306,762 378,904 NERC VOCABULARY SERVER BATHYMETRY SETS UNIQUE VISITORS 2024 DOWNLOADED

DRIVING NATIONAL AND GLOBAL DIGITAL SCIENCE TRANSFORMATION

This year, we accelerated our digital transformation to address issues of national importance throughinterdisciplinarysciencewithglobalinfluence.Wehavepioneeredenvironmentaldigital twins,integratingdiversedatastreamstosupportmarineconservationandscenarioplanning.

100% 88,562 OF CRUISE DATA ARCHIVED ACTIVE REGISTERED WITHIN ONE MONTH USERS OF RECEIPT

Ourresearchvesselsnowfeatureupgradeddigitalinfrastructure,enablingsecure,high-speed datatransferandrobustmanagementeveninremoteoceanregions.Weareembeddingdigital

technologies into our ocean observing systems, supporting net zero goals and long-term sustainability.

Our centralised data management through the British Oceanographic Data Centre (BODC) ensures open and efficient access to vital ocean data for the UK and global community. By combining cutting-edge digital tools with collaborative science, we are strengthening the UKs leadership in marine research and delivering insights that inform policy and stewardship worldwide.

230,612 89 % DATASETS SETS DOWNLOADED OF DATASETS AVAILABLE OR DELIVERED ON REQUEST WITHIN TWO CLICKS OF MEDIN PORTAL

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NoteThestatstcspresentedaboveareforApr2024toMarch2025toconformwthNERCreportngrequrements.

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ADVANCING
GLOBAL
OCEAN
SCIENCE
RRS DISCOVERY
99.7 5,952
METRES LENGTH GROSS TONNES
6.6 1,785
METRES DRAFT NET TONNES
18.0 32
METRES BEAM SCIENTISTS & TECHNICIANS
11.0 22
KNOTS SPEED MARINE CREW ▲ RRS Discovery duringexpeditionDY190inSantorini,March2025—supportinginternationalmarineresearch
andadvancingunderstandingofvolcanicislandsystemsandocean-climateinteractions.
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DY197 CELTIC SEA

Our scientists and crew supported the first Enabling Sustainable Wind EnergyExpansioninSeasonallyStratifiedSeas(eSWEETS3)expedition,led by the University of Liverpool, exploring how offshore wind development couldaffectseasonallystratifiedshelfseas.Thesedynamicenvironments, where warm surface waters overlay cooler, nutrient-rich layers, support thriving ecosystems but are highly sensitive to disruption.

Working in the Celtic Sea, one of the UKs future offshore wind zones, the multidisciplinary team made full use of RRS Discoverys world-class research infrastructure, including advanced CTD profiling systems, autonomous gliders, moorings and high-resolution underway sensors. These state-ofthe-art technologies, expertly operated by our skilled marine technicians, enabled the collection of precise data on physical mixing, nutrient dynamics and biological productivity. Supported by satellite observations and modelling tools from NOCs oceanography and data services, the expedition is helping to reveal how deep-reaching turbine structures could alter seasonal stratification and ecosystem health.

Funded by NERC, eSWEETS3 brings together leading UK institutions. The expedition demonstrates how the technical capability of our ships and the expertise of their crews underpin world-leading research that supports the sustainable growth of offshore energy.

▲ MapshowingtheshallowshelfseasaroundAberdeen,exploredduringDY197aspartoftheeSWEETS3expedition— investigatinghowoffshorewinddevelopmentmayimpactseasonallystratifiedmarineecosystemsintheNorthSea.

DY184 CANADA

This multidisciplinary charter saw RRS Discovery undertake a series of integratedsurveysacrosseasternCanadianwaters,supportingtwo Geological Survey of Canada (GSC) programmes: Offshore Renewable FoundationConditionsandMarineGeoscienceforMarineSpatialPlanning. The expeditions success relied on the ships high-performance scientific systems and the expertise of the crew in safely operating across diverse marine environments. Using advanced sonar mapping, seismic tools and oceanographic sensors, the team mapped the seafloor, analysed sediment layers, and studied seabed activity in canyons and banks. These data inform offshore development planning, environmental management, and hazard assessment.

The ship also supported Fisheries and Oceans Canadas long-running Atlantic Zone Monitoring Program (AZMP), collecting multidisciplinary ocean data vital for understanding seasonal to decadal variability and ecosystem health, including cetacean habitats. The professionalism and adaptability of RRS Discoverys technical teams and crew ensured seamless coordination of complex research operations across multiple disciplines, delivering data that will inform sustainable marine policy and scientific discovery alike.

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▲ Mapshowingthe planned routeofDY184fromHalifax(NovaScotia)—integratinggeological,hydrographic,
oceanographic andecosystemsurveysacrossEasternCanadianwaters.
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▲ Mapshowingthe planned routeofDY195intheNortheastAtlantic—partoftheCARESprojectinvestigating
theroleof sulfurinclimateregulationthroughjointshipandaircraftsurveys.
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2,631 192 57 TONNES OF FUEL USED SCIENCE SUPPORT DAYS PASSAGE DAYS

DY195 NORTHEAST ATLANTIC

As part of the ConstrAining the RolE of Sulfur in the Earth System (CARES) project,RRS Discovery playedakeyroleinajointshipandaircraftcampaign, led by the University of Cambridge, to better understand sulfurs role in regulating Earths climate.

Equipped with advanced atmospheric and oceanographic sensors, the ship supported scientists investigating how sulfur-containing compounds, especially dimethyl sulfide (DMS) emitted by phytoplankton, affect global climate models. The expedition targeted DMS-producing phytoplankton blooms in the Northeast Atlantic, combining satellite-guided surveys, stationary flux measurements and concurrent aircraft observations.

Operating with precision in open-ocean conditions, RRS Discoverys experienced crew and technicians ensured the safe deployment of sensitive instruments and real-time data acquisition. Their technical expertise and the ships integrated science systems allowed seamless coordination between marine and airborne teams. The resulting dataset will refine understanding of sulfur cycling in the Earth system, improving the accuracy of future climate projections.

DY186 RAPID WEST

Part of the long-running UK–US RAPID-MOCHA-WBTS programme, this expedition aboard RRS Discovery focused on maintaining the transatlantic array of moorings that monitors the Atlantic Meridional Overturning Circulation (AMOC), a key component of global climate regulation.

The ships experienced marine technicians and engineering crew conducted complex mooring operations, recovering and redeploying deep-ocean instruments designed to measure temperature, salinity, pressure, currents and oxygen. The team also performed precise CTD casts to calibrate mooring sensors and ensure data continuity.

First deployed in 2004, the RAPID array continues to provide vital longterm observations of AMOC variability and its links to climate change and the ocean carbon sink. The professionalism and technical skill of the RRS Discoverys crew are fundamental to the success of this international programme, which delivers one of the most important sustained climate records in the world.

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▲ Mapshowingthe planned routeoftheRAPID-MOCHA-WBTSexpeditionoffthecoastofFlorida,USA—partofajointUK-US
programmemaintainingmooringsthatmonitortheAtlanticMeridionalOverturningCirculation(AMOC).
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DY196 PROCESSES DRIVING SUBMARINE CANYON FLUXES (PISCES)

Part of the pioneering PISCES programme, this expedition aboard RRS Discovery focused on investigating cross-slope exchange processes in Whittard Canyon, a key site for understanding nutrient, heat, and carbon transport between continental shelves and the deep ocean.

The ships experienced crew and marine technicians conducted complex oceanographic operations, deploying autonomous nitrate sensors, microstructure profilers, and CTD casts to capture high-resolution measurements of water properties and turbulence. These observations, combined with advanced numerical models, will quantify the relative roles of advective and diffusive processes in canyon-driven fluxes.

By providing the first integrated dataset for a branching submarine canyon, the expedition highlights both the skill and professionalism of the RRS Discovery team and the capabilities of world-class research infrastructure. PISCES will advance global understanding of shelf-deep ocean interactions, informing ocean and climate models critical for predicting future climate and ecosystem responses.

DY200 NMEP AND MARS TRIALS

AboardtheRRS Discovery, cruiseDY200broughttogethermultiple projectsundertheNationalMarineEquipmentPool(NMEP)andMarine AutonomousRoboticSystems(MARS)programmesto test, recover, and deploy advanced marine research systems across the northeast Atlantic. Fieldwork centred on The Canyons Marine Conservation Zone (MCZ) and Haig Fras MCZ, supporting initiatives including AtlantiS, PISCES, RISC, REDRESS, and JNCC. Operations included Autonomous Underwater Vehicle (AUV) and glider surveys, benthic lander and mooring recoveries, ecoreef deployments, and high-resolution seafloor imaging using the SeaSpyder drop camera. These efforts contribute to long-term monitoring of protected marine habitats and the development of sustainable ocean observing infrastructure.

The cruise also hosted MARS technology trials, providing essential training for the Autosub5 team and testing new collision-avoidance and mooring systems for future autonomous missions. Over 20 days at sea, DY200 demonstrated the integration of cutting-edge marine science with innovation in autonomous operations, further enhancing UK capabilities in deep-sea research and environmental monitoring.

▲ Mapshowingthe planned routeofDY196intheNortheastAtlantic—partofthePISCESproject investigatingtheprocessesdrivingfluxesthroughsubmarinecanyons.

25 37 54 REFIT DAYS ALONGSIDE DAYS MOBILISATION DAYS

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ENABLING
GLOBAL
SCIENTIFIC
EXPLORATION
RRS JAMES COOK
89.2 5,491
METRES LENGTH GROSS TONNES
5.6 1,620
METRES DRAFT NET TONNES
18.6 32
METRES BEAM SCIENTISTS & TECHNICIANS
12.0 22
KNOTS SPEED MARINE CREW ▲ Afloatinglaboratoryattheforefrontofoceanscience,RRS JamesCook supportsglobalexpeditionsenabling
scientiststoexplorethedeepoceanwithprecisionandpurpose.
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JC278 PORCUPINE ABYSSAL PLAIN, NORTHEAST ATLANTIC

ReturningtothePorcupineAbyssalPlainSustainedObservatory(PAP–SO), RRS James Cook marked 40 years of deep-sea science at this pioneering site, one of the worlds longest-running ocean observatories.

At 4,850 m depth in the Northeast Atlantic, PAP–SO monitors seafloor ecology, carbon flux, and upper-ocean conditions over decades. As part of the NERC-funded AtlantiS programme, RRS James Cook supported the deployment of new-generation instruments including uncrewed surface vessels, autonomous gliders, and a deep-ocean hydrophone network.

The ships technical teams expertly managed complex deep-sea operations, recovering long-term moorings, deploying sediment samplers, and replacing a displaced Met Office buoy. Their precision, combined with the vessels advanced handling systems, ensured safe, reliable data collection in one of the harshest marine environments. The PAP–SO continues to be central to understanding how climate change affects the deep ocean system, thanks to the dedication of its scientists and the capability of the ships that serve it.

▲ Mapshowingthe planned routeofJC278fromSouthamptontothePorcupineAbyssalPlain—marking40 yearsof deep-seascienceatthePAP-SO,theworld’slongest-runningabyssalecologytimeseriesstation.

JC282 LABRADOR SEA

InoneofthemostremoteandchallengingoceanregionsonEarth,thehighly skilledcrewandtechnicalteamofRRS James Cook enabledthedeployment ofacutting-edgenetworkofautonomousrobotsanddeep-seainstruments for the Resolving Biological Carbon Export in the Labrador Sea (ReBELS) project. This NERC-funded programme investigates the biological carbon pump,avitalprocessbywhichcarbondioxideisdrawnfromtheatmosphere andstoredinthedeepocean.

Operating in extreme weather, cold temperatures and ice-prone waters demanded expert navigation and precision handling from the ships officers and engineers. Drawing on the vessels world-class research capabilities, the team installed two innovative FluxCAM marine snow camera systems on a 3,300m mooring to measure particle sinking speeds at depth. These were complemented by autonomous gliders and profiling floats, which collected high-resolution data on ocean circulation and biological activity.

By combining next-generation technologies with the seamanship, technical expertise and adaptability of RRS James Cooks crew, this expedition is delivering vital new insights into how carbon is transported and stored in one of the planets least observed ocean basins, knowledge essential for predicting the oceans role in regulating our changing climate.

▲ Map showing the planned route of JC282 from Nuuk to St Johns—part of the ReBELS project investigating biological carbonexportintheLabradorSea,usingadvancedoceanrobotsanddeep-seainstruments.

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JC273 BRAZIL-MALVINAS

LedbytheUniversityofExeter,theCOSSMoSSprojectrepresentedamajor advanceinunderstandinghowtheoceanabsorbsheatandcarbon.Working overtheArgentinianAbyssalPlain,theexpeditionmappedsub-mesoscale currents,whicharesmallbutpowerfulflowsthattransportheat,carbonand nutrientsthroughthedeepocean.

Operating in dynamic conditions where subtropical and polar waters converge, the crew and technical specialists aboard RRS James Cook deployed sophisticated acoustic systems to capture fine-scale images of subsurface circulation. Their expertise in data acquisition and instrument calibration ensured the accuracy of this high-resolution dataset.

Funded by the European Research Council, COSSMoSS relies on the ships ability to integrate complex, multi-sensor systems and maintain precise station-keeping in variable seas. The results will significantly enhance understanding of oceanic processes that regulate Earths climate.

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▲ Mapshowingthe planned routeofJC273acrosstheArgentinianAbyssalPlain—partoftheCOSSMoSSproject
investigating howsub-mesoscalecurrentstransportheat,carbonandnutrientsinthedeepocean.
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2,388 229 32 TONNES OF FUEL USED SCIENCE SUPPORT DAYS PASSAGE DAYS

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JC275
MID-ATLANTIC RIDGE
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Led by the University of Liverpool, the Enhanced Carbon Export Driven by Internal Tides over the Mid-Atlantic Ridge (CarTRidge) expedition explored how deep-ocean turbulence driven by tides may influence global carbon cycling.

Funded by UKRI through NERCs 'Pushing the Frontiers' programme, the multidisciplinary team used the RRS James Cooks advanced research infrastructure, including gliders, acoustic profilers and turbulence sensors, to investigate nutrient mixing and plankton dynamics across ridge and basin environments.

The success of the campaign depended on the skill of the ships crew and technical specialists, who executed complex deployments in rough seas and deep-water conditions. Their precision ensured the recovery of invaluable datasets now being used to reveal how internal tides may enhance biological productivity and carbon export in the open ocean.

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▲ Mapshowingthe planned routeofJC275,tracingtheCarTRidgeexpeditionfromRiodeJaneirotoWalvisBay—investigatinghow
internaltidesovertheMid-AtlanticRidgedrivecarbonexportthroughdeepoceanmixing.
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JC269 ICELAND

Operating between Icelandic and UK waters, the BIO-Carbon programme aboard RRS James Cook aimed to improve predictions of future ocean carbon storage by investigating how marine life drives carbon cycling. The expeditions multidisciplinary team relied on the vessels integrated laboratory facilities, autonomous technologies and expert support staff to examine how biological processes influence the oceans ability to absorb and store CO ₂ . Through ship-based sampling and the deployment of autonomous sensors, scientists gathered data on carbon production, respiration and alkalinity across depths and seasons.

In challenging North Atlantic conditions, RRS James Cooks skilled crew ensured the safe and efficient execution of complex operations. Their technical expertise and the ships high-spec systems allowed scientists to push the limits of ocean observation, contributing essential data to refine global climate models.

▲ Mapshowingthe planned routeofJC269fromReykjaviktoCardiff—partoftheNERC-fundedBIO-Carbon programme investigatinghowmarineecosystemsinfluenceoceancarbonstorageandclimatemodelling.

JC272 SOUTH ATLANTIC

Aspartofthelong-runningAtlanticMeridionalTransect(AMT)programme, thisannualvoyageaboardRRS James Cook travelledover12,000kmfrom the UK to the South Atlantic, crossing a spectrum of oceanic ecosystems from sub-polar to tropical regions.

Funded as a NERC national capability project, the AMT programme provides one of the worlds most important long-term datasets for understanding ocean health, nutrient cycling, and air–sea gas exchange. During this leg, the ships scientific crew and technicians operated advanced semi-autonomous sampling systems, continuous seawater sensors, and calibration tools to support global satellite missions and ecosystem models.

RRS James Cooks adaptability and the expertise of its crew allow this complex, multi-institutional research to run seamlessly across vast ocean regions. The AMT continues to serve as a platform for international collaboration, world-class science, and the training of the next generation of oceanographers.

MAP LEGEND

26 33 45 REFIT DAYS ALONGSIDE DAYS MOBILISATION DAYS

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▲ Mapshowingthe planned routeofJC272fromSouthamptontoMontevideo—partoftheAMTprogramme’s
12,000km voyagetomonitorecologicalandbiogeochemicalvariabilityacrossdiverseAtlanticecosystems.
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UNDERPINNED BY
SUSTAINABILITY
AND SOCIAL
RESPONSIBILITY
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EXCELLENCE INTEGRITY EMPOWERMENT ENVIRONMENTAL RESPONSIBILITY INNOVATIVE THINKING WORKING IN PARTNERSHIP

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“Underrepresented
people need community
- you can’t fix systematic
oppression by yourself.”
Dr Talicia Pillaya
BLACK
HISTORY
MONTH
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PEOPLE

Our people are passionate about what they do, have huge potential and collectively, we deliver great things. Our strength lies in the world-leading interdisciplinary experience, skills and the contribution of roles of every one of our people. Our ability to continue to grow and thrive relies on making NOC a great place to work.

37% 17 OF WORKFORCE IDENTIFY MANAGERS COMPLETED OUR AS FEMALE DEVELOPMENT PROGRAMME 37% 24

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37%
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OF PEOPLE MANAGERS EMPLOYEES TRAINED AS IDENTIFY AS FEMALE MENTAL HEALTH FIRST AIDERS

74%

93 EMPLOYEE'S HAVE FORMAL FLEXIBLE WORKING

OF WORKFORCE ARE ON CLG TERMS & CONDITIONS

▲ NOCstaffgatheratQueensParkbeforejoiningSouthamptons2025Pridemarch.Theteamproudlyrepresented theorganisationinrainbowcolours,celebratingdiversityandsolidarityacrossthescientificcommunity.

116 7 TOTAL VACANCIES STAFF MEMBERS RECRUITED FILLED FROM OVERSEAS

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COMMUNITY

We recognise that our actions impact the local and global community, so are committed to fostering positive relationships, knowledge sharing, and collaboration. Our engagement with the community extends from outreach and education initiatives to partnerships with local organisations, ensuring that our scientific research benefits society as a whole.

EMPOWERING FUTURE OCEAN SCIENTISTS THROUGH THE WEST BURSARY

We are proud to support the West P&I Seagoing Science Bursary, now in its fourth year, which givesstudentsfromdevelopingcountrieshands-onexperienceaboardourworld-classresearch vessels. This bursary enables early career scientists to gain practical skills in oceanography through tailored mentorship and participation in major expeditions.

For example, Genia Fernanda from Indonesia joined our RRS Discovery to study the Atlantic Meridional Overturning Circulation (AMOC), while Paul Sossou from Benin sailed on RRS James Cook to help monitor deep-ocean ecology. The programme strengthens scientific skills, confidence, and global collaboration.

Thanks to the generosity of our partner West and our dedicated mentors, we are nurturing the next generation of marine scientists committed to sustainability and social responsibility. This bursary embodies our mission to build a diverse and skilled ocean science community worldwide.

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ENVIRONMENT

Our purpose is to gain a deeper knowledge of the ocean to help every living thing on our planet flourish. In light of our purpose, environmental responsibility is one of our organisation's core values, and for years we have worked to improve the management of the resources we use and the footprint we leave behind.

FIVE-YEAR PARTNERSHIP BOOSTS CITIZEN SCIENCE ON OCEAN PLASTICS

We are proud to announce a five-year partnership with Beyondly to expand our citizen science project tracking ocean plastics globally. This collaboration builds on two years of support from Beyondly, a B Corp environmental compliance scheme and consultancy committed to funding vital ocean research.

Together, we engage yacht owners to collect water samples worldwide, helping us understand how plastics travel through the ocean, form microplastic hotspots and degrade over time. This data is crucial for informing government and industry policies about reducing plastic pollution and it supports the UNs Sustainable Development Goal 14: Life Below Water. Engaging citizen scientists accelerates data collection beyond traditional methods. With only 1% of philanthropy targeting ocean health, partnerships like this are essential to close knowledge gaps and protect marine life.

We are grateful to Beyondly for their ongoing commitment to sustainability and social responsibility, advancing global ocean science through this impactful collaboration.

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LABORATORY EFFICIENCY ASSESSMENT FRAMEWORK (LEAF)

TheLaboratoryEfficiencyAssessmentFramework(LEAF)programmesetsstandardsforwaste, purchasing, and energy use that our laboratories and workshops must meet to achieve silverlevelcertification.Atourlastaudit,allourlaboratoriesachievedBronzeand35%reachedSilver accreditation.WorkisongoingtobringalllaboratoriestoSilveraccreditationbytheendof2025. Some initiatives implemented to achieve this include:

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100% 35%
OF OUR LABORATORIES OF OUR LABORATORIES
ACHIEVED BRONZE ACHIEVED SILVER
CERTIFICATION CERTIFICATION
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TRIAL OF FOSSIL-FREE FUEL CUTS EMISSIONS FROM RESEARCH VESSELS

We are trialling hydrotreated vegetable oil (HVO), a fossil-free marine diesel, to fuel both RRS James Cook and RRS Discovery . Made from used vegetable oils, fats and non-food crops, HVO significantly reduces net CO2[emissions][compared to conventional diesel. ]

This trial, funded by NERC and aligned with UKRIs goal for net zero vessel operations by 2040, allows us replace low-sulphur marine gas oil with a cleaner alternative. HVOs stability suits the varied conditions we operate in, from warm waters to the Arctic. While challenges remain around cost and supply, especially in remote locations, this initiative is part of our broader work to reduce emissions.

We are also exploring battery use onboard and improving marine operation planning to cut transit times and boost efficiency. As ocean protectors, reducing our own carbon footprint is vital to our mission and leadership in sustainable marine science.

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MODERN SLAVERY

We are committed to our corporate responsibilities related to modern slavery and have implemented governance and controls that will prevent links to modern slavery and trafficking in all our business activities.

99% 31% OF ALL PURCHASES PROCESSED OF SUPPLIERS SIGNED UP TO OUR BY THE PROCUREMENT TEAM SUPPLIER CODE OF CONDUCT

During the 2024/25 financial year, NOC achieved the following:

5.9% 14.13% 15.18% OF SUPPLIERS HAVE OF SUPPLIERS HAVE OF SUPPLIERS ARE A MODERN SLAVERY A MSP DESPITE NOT NOT REQUIRED TO POLICY (MSP) REQUIRING ONE HAVE A MSP

BUSINESS OPERATIONS

Our approach to business operations is to ensure compliance and good governance through demonstrating best practice and continuous improvement. Its embedded into our values and behaviours frameworks to ensure all NOC staff understand its importance. We strive to continually improve our ways of working, are committed to fair operating practices, and encourage, where possible, social responsibility throughout all our value chains. Encompassing all our corporate activities, we ensure that our scientific mission is based on a strong foundation.

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MANAGEMENT, STRUCTURE AND GOVERNANCE
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OVERVIEW

DELEGATION OF DECISION MAKING - EXECUTIVE COMMITTEE

NOC was incorporated on 2 July 2018 as a charitable company limited by guarantee and commenced trading on 1 November 2019. It is registered as a charity with the Charity Commission in England & Wales and the Scottish Charity Regulator and is governed by articles of association in accordance with the Companies Act 2006.

OUR BOARD

ORGANISATIONAL STRUCTURE AND DECISION-MAKING POLICIES BOARD OF TRUSTEES

NOCs Board of Trustees, who also serve as Non-Executive Directors for the purposes of company law, hold overall responsibility for ensuring that NOC fulfils its purpose for the public benefit. They are accountable for the organisation's ongoing financial viability and for ensuring compliance with all legal and regulatory requirements. The trustees oversee the day-to-day delivery of NOCs strategy, which is led by the Executive Committee. Trustee Directors are appointed by the existing Board Members for a term of three years and may be reappointment for a further three-year term. The Board of Trustees during the financial year, and up to the date of approving the Annual Report 2024/25, comprised the following individuals:

DIRECTORS

Sir Jeremy Darroch Sir Michael Dixon Char David McSweeney Dr Ruth BoumphreyRetred9June2025 Clare Harbord Professor Sir Ian Boyd Dr Hosein Khajeh-Hosseiny From7January2025 David Gee John Clarke Retred31December2024 From19February2025 Daniel Hook Professor Lisa Collins Retred20May2025 From20February2025 Dr Sarah McMath Rebecca Munro Retred31May2025 From11September2025

NOC EXECUTIVE ATTENDEES

Professor John Siddorn Professor Penny Holliday ChefExecutveOffcer ChefScentfcOffcer Julie Pringle-Stewart ChefOperatngOffcer&ChefFnanceOffcer

OBSERVERS

Professor Mark Inall Simon Durbin NOCAssocaton–astmeetngFebruary2025 NERC–untApr2025 Professor Martin Solan Dr Rupert Lewis NOCAssocaton–fromMay2025 NERC–fromJuy2025

The Board delegates the day-to-day leadership and operations of NOC to its Executive Committee, which is made up of the Chief Executive Officer; the Chief Operating Officer/ Chief Financial Officer; the Chief Scientific Officer and five Associate Directors. The Executive Committee meets monthly, reviewing progress against NOCs goals; the KPIs set by the Board; and both current and longer-term priorities for the organisation. The Board has approved a formal Statement of Delegations for the Executive Committee to allow them to conduct the business of the organisation effectively. During the financial year, the Board approved an updated Executive Roles and Responsibilities framework, setting out accountabilities for each member of the Executive Committee.

BOARD MEETINGS

The NOC Board meets formally at least quarterly. Standing items covered in Board meetings include strategy, performance, risk and compliance, Health, Safety & Environment (HSE) and Corporate Social Responsibility (CSR). The Executive reports quarterly to the Board on progress against KPIs set at the start of the financial year, which cover each of NOCs goals. Key science projects and achievements have been shared with the Board throughout the year. The Board has continued to look at strategic topics and held an away day with the Executive in October to discuss the new NOC Strategy 2025-2035, alongside key topics such as the organisation and funding, overall health and the role of NOC Innovations.

DELEGATION OF DECISION MAKING - COMMITTEES

The Board of Trustees has established four formal committees: the Audit & Risk Committee; the Nominations Committee; the Remuneration Committee; and the Scientific and Technology Advisory Committee. Their role is to undertake detailed scrutiny of specific subject matters and to make recommendations on those topics. The committees are chaired by a Trustee Director appointed by the Board and report directly to the Board. The constitution of the committees and their respective Terms of Reference are reviewed at least annually.

AUDIT AND RISK COMMITTEE

The Audit and Risk Committee was chaired by David Gee, however he retired from his trustee role during the 24/25 financial year. David McSweeney has chaired the committee from January 2025. The Committee meets quarterly, on behalf of the Board, and holds overall responsibility for financial reporting and controls, risk management, audit, and whistle-blowing. The committee acts independently from the NOC Executive, to ensure that the interests of the charity are properly protected and to ensure the integrity of the company financial reporting. Wider standing items within the agenda include cyber security and GDPR. Each quarter, the committee also completes a deep dive into one of the strategic risks being managed across the business. During 24/25, the committee reviewed our key compliance policies, our annual financial business planning and targets and reappointed our auditors.

36 NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

REMUNERATION COMMITTEE

The Remuneration Committee is chaired by Sir Michael Dixon. The Committee meets twice a year. It provides a forum for developing policy on trustee and executive remuneration; to recommend levels of remuneration for Directors; and to review the remuneration policy and reward package for all employees. It oversees any major changes in the employee benefits structure throughout the organisation. During the 24/25 year, the Committee reviewed and approved the executive teams objectives, executive pay and executive performance pay and the overall pay policy for NOC. The Committee also reviewed equal pay and approved NOC's gender pay gap submission.

NOMINATION COMMITTEE

The Nomination Committee leads the process for Board appointments and makes recommendations to the Board. It meets at least twice a year and is chaired by Sir Jeremy Darroch. The Committee is responsible for long-term succession planning for future trustees, ensuring that a formal, rigorous, and transparent procedure is in place for the appointment of new directors to the Board. It also reviews and evaluates the balance of skills, knowledge, experience and diversity on the Board. The Board assesses the capabilities of the existing Trustee Directors using a skills matrix, which is reviewed annually. During this financial year, the Committee oversaw the recruitment process that successfully led to the appointment of four new trustees.

SCIENCE AND TECHNOLOGY ADVISORY COMMITTEE

The Science and Technology Advisory Committee is chaired by Professor Sir Ian Boyd. Its remit is to provide independent advice to support the Board of Trustees and Chief Scientific Officer in their responsibilities for development and delivery of the research strategy for NOC and on sustaining the quality and impact of NOCs research performance, its research environment and the health of its intellectual capital base. The Committee is chaired by a member of the NOC Board and has a membership of no more than 10 people whose expertise covers the breadth of NOCs main areas of scientific research and technology development. Members are appointed from outside NOC, taking due consideration of diversity, and bringing stakeholder and international perspectives commensurate with NOCs role as one of a relatively small number of large-scale oceanographic institutions in the world.

TRUSTEES’ INDEMNITIES

Under NOCs governing documents, directors and former directors are entitled to an indemnity against liability incurred by them to a third party in the proper performance of their duties as a director or officer of NOC. The governing document also gives NOC powers to provide indemnity insurance for the Trustees in respect of liability arising from breach of trust or duty, negligence, subject to the conditions of Section 189 of the Charities Act 2011 (which excludes

from such insurance any criminal and regulatory fines and penalties). NOC maintains such insurance for the Trustees, with an annual cap on liability.

PAY POLICY FOR SENIOR STAFF

Details of Trustees’ expenses incurred in the course of their duties and reimbursed are disclosed under note 7. This year, one Trustee received remuneration. The Remuneration Committee is responsible for developing, implementing and reviewing remuneration by considering market value, performance, capabilities, values and leadership behaviours, and by using up-to-date and relevant comparative salary information. The Chair of the Remuneration Committee recommends the remuneration package of the Chief Executive Officer to the Chair of the Board, who in turn reports to the Board.

INDUCTION AND TRAINING OF TRUSTEES

As part of our onboarding process, new trustees are introduced to our work by meeting members of the Executive team, attending presentations and tours, and engaging with staff to learn about the different NOC functions. NOC provides a trustee handbook with guidance on both NOC, and on charity governance requirements. The trustees also have an annual programme of reviewing the Charity Governance Code, to review compliance and achievements in this area. This year, the trustees completed compliance training and, in July, attended a strategy day with the NOC Executive Committee.

REVIEW OF BOARD PERFORMANCE

The Boards performance is reviewed internally each year, with an external effectiveness review conducted every three years. The actions and improvement areas that were identified will be implemented during the next financial year. The next external effectiveness review will be undertaken in early 2026.

SUBSIDIARY GOVERNANCE AND RELATED PARTIES

NOCs wholly owned subsidiary, National Oceanography Centre Innovations Limited (‘NOC Innovations’), was established in 2019 as a private limited company. Its role is to undertake more applied and commercial work, to facilitate knowledge exchange and encourage innovation. It has covenanted to donate to NOC all profits earned which it may legally donate and to reclaim gift aid on its profits to NOC. The NOC Innovations Board was chaired by David Gee until January 2025. Dr Hosein Khajeh-Hosseiny chaired his first meeting in April 2025; its other directors are four members of the Executive Committee, one other NOC Trustee, one deputy director and one non-executive independent director. The NOC Innovations Board meets quarterly. The NOC Board of Trustees receives quarterly updates from the NOC Innovations Board on its activities and financial performance. NOC is eligible to bid for funding from UKRI, including the Natural Environment Research Council (NERC). NOC manages the national capability funding on behalf of NERC, working in partnership with marine centres across the UK.

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37

MEMBERS OF NOC AND LIABILITY

OUR EXECUTIVE COMMITTEE

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The Members of the Charity are the Trustee Directors. They guarantee to contribute an
amount not exceeding £1 to the assets of the Charity in the event of winding up.
OUR STAKEHOLDERS
This year, we have taken steps to develop a formal framework for engagement with stakeholders,
led by the Executive Committee, with the Board being involved with setting the strategy. As the
Board reviewed its interaction with stakeholders, and that of NOC as a whole last year, this year we
have created a methodology and process for reviewing stakeholder engagement and embedding
it across the organisation, with clear plans for engagement and a system to record and measure PROFESSOR JOHN SIDDORN ChefExecutve PROFESSOR PENNY HOLLIDAY ChefScentfcOffcer
success. This in an ongoing piece of work which we will continue to review during the next
financial year.
PUBLICINTHEUK YOUNGPEOPLE
&WORLDWIDE &STUDENTS
JULIE PRINGLE-STEWART DR JON BLOWER
ChefOperatngOffcer&ChefFnanceOffcer AssocateDrectorDgtaOcean
OUREMPLOYEES
NATALIE CAMPBELL DR MAATEN FURLONG
AssocateDrectorCorporateBusnessSupport AssocateDrectorNatonaMarneFactes
MARINERESEARCH
ORGANISATIONS& OURFUNDERS
PUBLICAUTHORITIES
SCIENTISTS,ENGINEERS OURSUPPLIERS
&RESEARCHERS HUW GULLICK PROFESSOR LEN SHAFFREY
▲ Wearedevelopingactionstoembedandextendengagementwithourkeystakeholdersoutlined AssocateDrectorStrategcBusnessDeveopmentDrectorNOCInnovatons AssocateDrectorScence&Technoogy
inthediagramabove.
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38 NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

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PUBLIC BENEFIT STATEMENT
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OUR CHARITABLE OBJECTIVES
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In setting the vision and mission for the NOC, the Trustees gave due consideration to the guidance on public benefit, as outlined by the Charity Commission of England and Wales and the Scottish Charity Regulator OSCR.

THE ADVANCEMENT OF SCIENCE in particular, enhancing the scientific knowledge and understanding of oceanographic sciences, and the ocean and its interaction with the Earth system, and facilitating the use and application of that knowledge and understanding, particularly by:

NOCs key driver for selecting topics for research is always what will take ocean science forward for the furtherance of our charitable purpose; our touchstone in all endeavours is increasing knowledge to deliver public benefit.

192 RESEARCH PAPERS PRODUCED

NOC and our trading subsidiary, NOC Innovations, bring benefits in a number of ways, including through scientific research, marine technology, education, information and advice. Through our work, we aim to:

175

RESEARCH PAPERS GOLDEN OPEN ACCESS

91.15 % RESEARCH PAPERS GOLDEN OPEN ACCESS

To enable the organisation and individuals to exercise independent discretion in decision making, we have established an Activity Decision Tree. Its general principles are applied when deciding whether activity is routed through the National Oceanography Centre (NOC) or the trading subsidiary: National Oceanography Centre Innovations Limited (NOC Innovations Ltd). This includes examination of ethical considerations, reputational risks, organisation and scientific independence of NOC, where the benefit is accrued and risk and mitigations thereof.

17

THE ADVANCEMENT OF EDUCATION in oceanographic science and the ocean and its interaction with the Earth system and relationship with people, particularly by:

RESEARCH PAPERS GREEN OPEN ACCESS

education), training and development of the next generation of scientists, engineers, technologists including the supervision of postgraduate research students.

8.85 %

Where contract research is undertaken by NOC, we do so in line with the Commissions guidance on research by higher education Institutions, and ensure it is funded at full economic cost, often by matching funding across the portfolio. NOC retains scientific control of any IP licensed so that it can continue to advance science and technology for the benefit of the public.

RESEARCH PAPERS GOLDEN OPEN ACCESS

DIRECTORSANDTRUSTEESREPORTINC.THESTRATEGICREPORT

39

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GOVERNANCE ARRANGEMENTS
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GOVERNANCE FRAMEWORK

We continue to improve and evolve our governance framework in line with the evolving needs of the organisation. Our framework is comprised of three areas: our policies, our statement of delegation and our committees that support and have oversight of our operations. Our internal audit programme continues to provide assurance and feedback on the effectiveness of our governance, and how it enables and supports the organisation.

This year, a comprehensive review and update of all three components of our governance framework was conducted in advance of the strategy launch. The purpose was to ensure that the committee structure, statement of delegations, and policies are aligned with the four outcomes of the strategy and remain consistent with the organisation's needs and governance framework.

CYBER SECURITY AND DATA PROTECTION

We successfully retained our cyber essential accreditation this year and rolled out new online mandatory cyber security training to the whole organisation to help improve awareness and understanding. Our training completion rates at the end of the reporting year are 89%. As

part of supporting our staff, we have completed regular phishing campaigns to help test the effectiveness of the training. We continue to work with external partners who provide additional support and expertise to help NOC IT maintain high security standards, successfully maintaining a grade-A security card throughout the year. There have been 0 cyber incidents that have affected NOCs regulatory obligations.

ETHICS, SAFEGUARDING AND CONFLICTS OF INTEREST

Safeguarding is incredibly important as we aspire to engage more with our local communities and young people—our future scientists and engineers. This year, an internal audit was completed on both ethics compliance and conflicts of interest. Recommendations were implemented to strengthen these areas, and the Ethics Policy and Conflict of Interests Policy, along with associated procedures, were reviewed. Staff training continued, with collaboration with the Engagement team, prioritising safeguarding in the delivery of education outreach engagement programmes.

DUE DILIGENCE

Our new Funding Assurance and Corporate Responsibility (FACR) Group was established last year. This group has taken ownership and coordination of our new approach to due diligence for the organisation but also assurance processes for all projects. This year, the Audit & Risk Committee completed an audit of the approach to self-insured assets and pricing for risk. The FACR group have completed internal and external engagement to create a new Corporate Social Responsibility Strategy that has been approved by the NOC Board of Trustees and will be launched next financial year.

There were no externally reportable conflicts of interest and no significant governance or control issues during the financial year.

Helping staff understand the risks we face, and how they can support safe operations, is extremely important. This year, we continued to provide training and support to help staff understand their governance responsibilities. This included mandatory training on GDPR compliance, confidentiality, and information security. There were no reportable data protection breaches during the financial year.

RISK MANAGEMENT

The Trustees keep oversight of the strategic risks facing the organisation and provide their guidance and position with regards to our risk tolerances. This year, we have considered how we can improve ease of use and understanding of our risk approaches, looking to align ways of working with other areas of the organisation such as learning from our health and safety practices. Our risk management approach is communicated to all new starters and is well embedded within our operational committee meetings. We continue to take feedback from the organisation and tested our understanding of risk via an internal audit programme.

NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

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PLANS FOR FUTURE PERIODS
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NOCs current 5-year plan and strategy, which took NOC from government ownership to an independent charity, comes to an end this year. NOC will therefore be implementing and operating to a new vision, strategy and business organisational structure from October 2025 onwards.

NOC 2025-2035 STRATEGY

To gain a deeper knowledge of the ocean NOC must deliver world-leading science and the capacity (including engineering, digital and laboratory) for ourselves and others to do that science.

It is not sufficient just to gain knowledge - NOC must also ensure that it is trusted, purposeful, accessible, and used for the benefit of society and planetary health. To achieve this means partnering across an increasing range of sectors, including research organisations and charities, nationally and internationally, beyond the natural sciences.

NOC will work with government to support their policy needs and with industry to stimulate prosperity and growth. NOC will work with partners to ensure our ocean knowledge supports civil society and is used to engage the public so they understand the ocean and its role in our lives. NOC will also support other organisations through providing research facilities enabling high-quality science for public good.

NOC can only deliver this impact for society and planetary health if, as an organisation it is vibrant, healthy and financially resilient.

Therefore, to achieve this vision NOCs strategy is formulated to deliver four major outcomes:

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REFERENCE AND ADMINISTRATIVE DETAILS
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COMPANY REGISTERED NUMBER

David McSweeney

Clare Harbord

11444362

DrHoseinKhajeh-Hosseiny from 07 Jan 2025 John Clarke from 19 Feb 2025

CHARITY REGISTERED NUMBERS

1185265 SC049896

Professor Lisa Collins from 20 Feb 2025 Rebecca Munro from 11 Sept 2025

REGISTERED OFFICE

SENIOR MANAGEMENT TEAM

National Oceanography Centre European Way, Southampton SO14 3ZH

Professor John Siddorn Chief Executive Officer Julie Pringle-Stewart Chief Operating Officer Chief Financial Officer Company Secretary

INDEPENDENT AUDITOR

BDO LLP

Arcadia House, Maritime Walk, Ocean Village, Southampton SO14 3TL

Dr Maaten Furlong Associate Director for National Marine Facilities

LEGAL ADVISORS

Eversheds Sutherland Bridgewater Place, Water Lane, Leeds LS11 5DR

Dr Jon Blower Associate Director for Digital Ocean Natalie Campbell

BANK

NatWest 68 Above Bar Street Southampton, SO14 7DS 0345 788 8444

DIRECTORS AND TRUSTEES

Associate Director for Corporate Business Support

Huw Gullick

Associate Director Strategic Business Development / Director NOC Innovations

Professor Penny Holliday

Chief Scientific Officer

Sir Jeremy Darroch Chair

Dr Ruth Boumphrey retired 09 Jun 2025 Professor Sir Ian Boyd

David Gee retired 31 Dec 2024 Daniel Hook retired 20 May 2025 Dr Sarah McMath retired 31 May 2025 Sir Michael Dixon

Professor Len Shaffrey Association Director for Science & Technology

Andrew Lovett Head of Strategic Finance

Mohammad Alhashimy Head of Legal and Governance

DIRECTORSANDTRUSTEESREPORTINC.THESTRATEGICREPORT

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SECTION 172 STATEMENT
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OUR PEOPLE
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TheNOCBoardofTrusteeshasactedinawaythattheybelievetobeingood faith,thatwouldbemostlikelytopromotethesuccessofthecompanyfor

thebenefitofitsmembersasawhole.Indoingso,haveregardtothematters setoutins172(1)(a-f)oftheCompaniesAct2006,inthedecisionstaken duringtheyear.

The trustees are briefed on their legal duties as part of their induction and can seek further advice from the Company Secretary, Head of Legal & Governance, or access external independent advice if required.

STRATEGY AND CONSIDERATION OF THE CONSEQUENCES OF LONG-TERM DECISIONS

Decisions are underpinned by a detailed business plan, with budgets built from funded projects and forecasts across the following five years, based on experience of research funding, pipeline research areas, and market research on future areas of growth. The Board also considers the longer-term prospects and funding landscape for NOC, taking into account the expected changes in technology, the skills required, and the types of research and data analysis to be undertaken in the next 10-15 years. This is done with an awareness of NOCs aim to diversify income over the longer term.

CORPORATE SOCIAL RESPONSIBILITY

As a registered charity with public benefit at its core, NOCs aim is to make a positive contribution to society by advancing ocean science and education, supported by continued substantial public research investment. As the national centre and a world leader in marine science, NOCs aim is to lead by example.

We have launched a new Corporate Social Responsibility (CSR) strategy which we celebrated in the Section: Underpinned by Sustainability and Social Responsibility (page 30). The CSR Committee has met regularly driving strategic progress towards the pillars of People, Operations, Community, Environment, and Research. In delivery of this plan, NOC aims to work to the principles of ISO 26000 Social Responsibility. The Board conducts regular reviews of CSR.

Developingandmaintaininggoodemployeeengagementandcementing NOCsreputationasanemployerofchoice,arefundamentaltothedeliveryof theNOCStrategy.

We are committed to being an organisation where disabled people are welcomed and supported, ensuring that they are enabled to fulfil their potential and contribute fully to NOC. Whether staff join with disabilities or develop them over time, NOC is committed to working with disabled staff to provide training and make reasonable adjustments to support their employment and pursue their career as valued members of staff.

We remain committed to attracting and retaining the best talent. We are licensed to sponsor foreign nationals for work visas—an opportunity and a commitment that sits at the heart of our recruitment strategy. Supporting visa applications for both existing staff and new applicants enables us to build and sustain a diverse, skilled workforce. To further enhance our offer, we have introduced a new policy to cover visa application costs. This positions NOC as a competitive and supportive employer by making it easier for talented foreign nationals to join and remain with the organisation.

We have completed extensive stakeholder engagement to define our cultural priorities. We have maintained proactive engagement with the trade unions on a range of policy and pay initiatives, actively gathering feedback and views. Employee engagement continues through our Staff Focus Group and Open Staff Meetings, which continue to evolve in response to feedback.

Throughout this year, NOC has kept staff informed and involved in the evolution of NOCs vision and strategy, holding regular workshops, town-halls, and update meetings to enable interaction at all levels of the organisation for the significant changes taking place. These interactions have fostered meaningful dialogue between management and staff, helping to strengthen engagement and improve outcomes for employees during the organisational changes.

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OUR VALUES
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EXCELLENCE
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INTEGRITY
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EMPOWERMENT
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ENVIRONMENTAL RESPONSIBILITY
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INNOVATIVE THINKING
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WORKING IN PARTNERSHIP
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HIGH STANDARDS AND BUSINESS CONDUCT

NOC's values—Excellence, Innovative Thinking, Empowerment, Environmental Responsibility, Integrity, and Working in Partnership— underpin the way in which the Trustee Directors take decisions and set standards for the way in which the organisation operates. Through the delivery of our strategy, we aim to enhance our reputation, by reflecting responsible behaviour and maintaining high standards of business conduct.

LEARN

The Board reviews the NOCs Ethics & Research integrity frameworks annually. NOC continues to be committed to following the Seven Principles of Public Life, which outline the ethical standards to which those working in the public sector are expected to adhere and which complement NOCs own values.

MEMBERS

The Trustee Directors are also members of NOC. The Directors, in consultation with the Executives, take decisions jointly, in accordance with company law and other applicable laws and regulations, and regularly review any conflicts of interest they may have in their other capacities or wider activities.

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▲ ColleaguesfromNOCandfellowNERCcentresunitedduringExploreOurPlanet–ArchwillicheinPlaned,
showcasingoursharedcommitmenttoscienceengagementandenvironmentaldiscovery.
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STREAMLINED ENERGY & CARBON REPORTING SECR
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We remain committed to high standards of environmental responsibility and stewardship. As an independent research organizationconductingresearchacrosstheglobe,werecognise the importance of understanding our environmental impact and committing to carbon reduction strategies.

We continue to look for opportunities to improve and, during FY 2024-25, we have made significant efforts to ensure that our organisation can meet its long-term sustainability goals.

This year, our total carbon impact reached 18646.55 tCO2[e. This ] is a decrease from 2011071 tCO2[e in FY 2023-24, representing a ] 7% fall overall.

We still have opportunities for further improvement and, in understanding our carbon footprint*, NOC also tracks its staff Full-Time Equivalent (FTE) figures for comparison. For FY 202425, with 713.81 FTE, our carbon intensity was 26 tCO2[e/FTE—this ] has reduced from FY 2023-24. Our building-related intensity ratio also decreased this year to 0.33 tCO2[e/m².]

There was a reduction in marine gas oil fuel used by our research vessels (down 6%) accounting for much of our decrease in emissions.

Following the successful testing of Hydrotreated Vegetable Oil (HVO) fuel in FY 2023/24, the Natural Environment Research Council (NERC) agreed to further fund this alternative fuel. HVO usage increased significantly in year, and we have successfully procured and bunkered HVO from the UK using the additional funding. We hope to have spent £1.5 million on HVO by the end of the NERC financial year (March 2026).

Our carbon reduction initiatives continue to show reductions in emissions from electricity, rental cars, fuel used by logistics vehicles, and landfill—meeting our buildings emissions targets. We also reduced our impact from business travel despite missing our target reduction. The downwards trajectory is a positive outcome especially given the increase in our FTE.

This year, we've analysed our business travel to identify where we can make the greatest impact on reducing emissions. In isolating travel associated with our research ships (travel for mariners and scientists to remote locations), we have found that

travel to conferences has increased considerably in the last two financial years. NOC recognises the importance of sharing our research and outputs, and the ability of our academics to create strong networks across the research community. However, we must balance these priorities with our carbon reduction commitments. We have continued to promote sustainable travel options but recognise that we need to do more to meet our targets. Despite these challenges, our business travel has reduced year on year by 28%, and we will continue to closely monitor this area to help us achieve our targets.

NOC has also committed to the purchase of carbon software to better inform our carbon reduction planning, and enhance our ability to report at divisional and team levels. We hope that, with increased granularity and the ability to model outcomes, targeted reductions will be easier to identify and implement. Review of our travel policies and procedures will be prioritised to further support our commitments.

In reducing energy usage in our buildings, we have successfully completed boiler replacements, upgrading to a more modern modular system, which will increase efficiency and reliability. Replacement of our lighting at our Southampton site has also progressed which will also improve energy efficiency and create a more sustainable environment.

We also remain committed to the Laboratory Efficiency Assessment Framework (LEAF) laboratory energy efficiency programme with 31% of labs having achieved Silver accreditation. Remaining laboratories will be audited by the end of the calendar year.

We are pleased with the reductions in scope 1 (-5%) and scope 2 (-12%) emissions, hitting our target reductions. Although we missed our scope 3 target, we are pleased to see the progress made in reducing business travel emissions (-28%). We remain committed to implementing carbon reduction initiatives.

EMISSION DETAILS SCOPE 1 EMISSIONS These amounted to: Gas Combustion 918.45 tCO2[e ] Ship Fuel Consumption 1576567 tCO2[e ] Fleet Vehicles 17.49 tCO2[e ] Total Scope 1 emissions 16701.61 tCO2[e ] SCOPE 2 EMISSIONS These amounted to: Electricity 97913 tCO2[e ] Purchased Heating (Liverpool Office) 23.93 tCO2[e] Total Scope 2 emissions 1003.06 tCO2[e ]

SCOPE 3 EMISSIONS Business Travel, Rental Car fuel 6.83 tCO2[e] Waste (Incinerated, landfill, food waste, recycling) 064 tCO2[e] Business Travel, Employee Mileage Claims 10.58 tCO2[e ] Water Consumption and Discharge 419 tCO2[e ]

Air (domestic, short-haul and long-haul) and Rail (domestic and international) 91964 tCO2[e ] Total Scope 3 emissions reported here 941.88 tCO2[e ]

*OurshpoperatonscarbonfootprntsasoreportedtoUKR

NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

44

REPORTING YEAR 2024-25

TABLE 1: PRINCIPAL SOURCES

REPORTING YEAR 2023-24

UNITS SCOPE SOUTHAMPTON LIVERPOOL TOTAL SOUTHAMPTON LIVERPOOL TOTAL
Gas Combustion for Heating 1 4,995,953 - 4,995,953 5,019,948 - 5,019,948
kWh
Marine Gas Oil fuel for RRS_Discovery_ 1 34,849,365 - 34,849,365 31,147,969 31,147,969
kWh
Marine Gas Oil fuel for RRS_James Cook_ 1 29,925,441 - 29,925,441 29,787,072 29,787,072
kWh
HVO Biofuel for RRS_Discovery_ & RRS_James Cook_ 1 3,277,230 - 3,277,230 5,457,570 - 5,457,570
kWh
Fleet Vehicles Diesel & HVO fuel 1 98,860 98,860 82,904 - 82,904
kWh
Fleet Vehicles Propane Gas fuel 1 22,400 - 22,400 17,136 - 17,136
kWh
Electricity 2 5,053,635 335,516 5,389,151 5,196,945 334,856 5,531,801
kWh
Heat Purchased for Own Use (CHP/District Heating) 2 154,003 154,003 195,890 195,890
kWh
Business Travel - Rental Car Fuel
£GBP		 3 - - 6,375 - - 5,311
Business Travel - Employee Expense Claims 3 - - 41,127 - - 37,984
miles
Water Consumption and Discharge 3 9,540 342 9,882 11,265 300 11,565
m³
RESULTING EMISSIONS SCOPE SOUTHAMPTON LIVERPOOL TOTAL SOUTHAMPTON LIVERPOOL TOTAL
Gas Consumption for Heating 1 913.76 0 913.76 918.45 0 918.45
tonnes CO₂e
Marine Gas Oil fuel for RRS_Discovery_
tonnes CO₂e		 1 8,990.92 0 8,990.92 8,035.97 0 8,035.97
Marine Gas Oil fuel for RRS_James Cook_
tonnes CO₂e		 1 7,720.57 0 7,720.57 7,684.87 0 7,684.87
HVO Biofuel for RRS_Discovery_ & RRS_James Cook_ 1 11.74 0 11.74 44.83 0 44.83
tonnes CO₂e
Fleet Vehicles Diesel and HVO fuel 1 18.95 0 18.95 17.06 0 17.06
tonnes CO₂e
Fleet Vehicles Propane Gas fuel 1 4.8 0 4.80 0.43 0 0.43
tonnes CO₂e
Electricity
tonnes CO₂e		 2 1,046.36 69.46 1,115.82 919.86 59.27 979.13
Heat Purchased for Own Use (CHP/District Heating) 2 0 18.85 18.85 0 23.93 23.93
tonnes CO₂e
Business Travel - Rental Car Fuel 3 - - 9.16 - - 6.83
tonnes CO₂e
Business Travel - Employee Expense Claims 3 - - 11.05 - - 10.58
tonnes CO₂e
Water Consumption and Discharge 3 3.23 0.12 3.35 4.08 0.11 4.19
tonnes CO₂e
Total
tonnes CO₂e		 - - 18,818.96 - - 17,726.27
Floor Space
m
2		 51,234.80 2,800.00 54,034.80 51,234.80 2,800.00 54,034.80
Intensity Ratio 0.35 0.33
tCO₂e/m²
Intensity 348.27 328.05
kgCO₂e/m²
NoteUsagefguresforfueupdatedtoequvaentkWhasperSECRGudenes. DIRECTORSANDTRUSTEESREPORTINC.THESTRATEGICREPORT 45

45

METHODOLOGY FOR COLLECTING EMISSIONS AND ENERGY DATA

SCOPE 1

Gas Use for Heating Data from site meters were converted to CO ₂ e using UK Government GHG Conversion Factors. Ship Fuel Captains reported fuel use, which was converted to CO ₂ e using carbon conversion factors for Marine Gas Oil (MGO) and Hydrogenated Vegetable Oil Bio-fuel (HVO). Fleet Vehicle Fuel Data were obtained from turnover records and converted to CO ₂ e using HVO, Diesel and Propane Gas conversion factors.

SCOPE 2

Electricity kWh data from site meters were converted to CO ₂ e using UK Government GHG Conversion Factors. Purchased Heat Data from Liverpool site meters were similarly converted to CO ₂ e.

SCOPE 3

Business Travel, Rental Cars Employee expense claims under the category are used to calculate total fuel spending data for rental vehicles. This is then converted to litres using the average cost of a litre of fuel. We then applied the UK GHG emission factors to calculate carbon impact.

Business Travel, Employee Expense Claims We used total mileage, and applied the UK Govt conversion factor for an average car to calculate the resulting carbon impact.

Water Consumption We used data from on-site water meters, and applied the conversion factor for supplied water, and water discharge.

TABLE 2: ADDITIONAL REPORTING - WASTE

REPORTING YEAR 2023-24

REPORTING YEAR 2024-25

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UNITS SOUTHAMPTON LIVERPOOL TOTAL SOUTHAMPTON LIVERPOOL TOTAL
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Incinerated Waste 46.04 0.4 46.44 56.48 0.41 56.89
tonnes
Landfill 8.22 0 8.22 0 0 0
tonnes
Anaerobic Digestion of Food Waste, Producing Renewable Biogas 4.02 0 4.02 5.61 0 5.61
tonnes
Recycled 82.42 7.31 89.73 66.1 2.08 68.18
tonnes
Total Emissions from Waste 4.99 0.64
Scope 3 / tonnes CO₂e

WASTE MANAGEMENT

We have four waste streams at NOC; namely incinerated waste, landfill, anaerobic digestion of food waste processed off-site, and recycling. Data is gathered from waste management reports, disposal records, and recycling statistics to ensure accurate emissions assessment using emissions factors for each type of waste.

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TABLE 3: ADDITIONAL REPORTING - AIR AND RAIL EMISSIONS

REPORTING YEAR 2023-24

REPORTING YEAR 2024-25

----- Start of picture text -----
UNITS TOTAL TOTAL
----- End of picture text -----

Domestic Air emissions 34.59 42.04
tonnes CO₂e
Short-Haul Air 225.32 142.19
tonnes CO₂e
Long-Haul Air 772.42 489.46
tonnes CO₂e
International Air 233.29 219.66
tonnes CO₂e
Domestic Rail 21.09 26.13
tonnes CO₂e
International Rail 0.05 0.16
tonnes CO₂e
Total Emissions from Business Travel 1,286.76 919.64
Total Scope 1
tonnes CO₂e		 17,660.77 16,701.61
Total Scope 2
tonnes CO₂e		 1,134.64 1,003.06
Total Scope 3
tonnes CO₂e		 1,315.30 941.88
Grand Total
tonnes CO₂e		 20,110.71 18,646.55
Full Time Equivalent Staff (FTE) 31.07.24 683.6 30.09.25 713.81
Intensity Ratio 29.42 26.12
tonnes CO₂e / FTE

BUSINESS TRAVEL, AIR AND RAIL

We receive monthly carbon impact reports from our travel booking partner, who track and record all associated travel emissions. Rail and air travel is booked by our scientific teams for conferences and research trips. Scientific staff and mariners will also need to book travel to join our RRS vessel missions. Our staff also travel between our Southampton and Liverpool sites with meetings also conducted online via Teams to minimise unnecessary travel.

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RISK MANAGEMENT STATEMENT
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NOCs risk management framework continues to support the companys management in the taking of risk in line with the Boards risk appetite. Risk reporting and discussion has been ongoing throughout the year and have played a significant role in enabling the Board and management to take decisions, both in respect to the execution of the business’ strategic objectives, and in the avoidance of unwanted outcomes.

Our Risk Management Framework continues to provide management with the ability to anticipate the evolution of risks and the mitigations necessary to remain within appetite: to increase our resilience to change, and to reduce the threats and uncertainty faced by the organisation. It also supports management in the maximisation of opportunities by better facilitating informed decision-making whilst also providing assurance that the company takes steps to ensure it is operating within appetite.

NOC continues to evolve its Risk Management Framework in support of improvements in risk insights, accountability, and the future evolution of the organisation. NOC anticipates undertaking a thorough review of its risk management practices over the next 12 months to ensure its risk appetite, approach to risk management and the way it reports and manages risk remain effective for the organisation.

The Executive Directors play a lead role in identifying and managing risk throughout the organisation, acting as the escalation route for risks to the Executive Directors, the Risk and Audit Committee, and the Board of Trustees. The Board and management are aided by a risk management function: providing oversight, advice, challenge, and guidance for the management of risk; as well as support for risk reporting and the development of policies, procedures, regulatory compliance and training.

SIR JEREMY DARROCH CHAIR OF BOARD OF TRUSTEES

PRINCIPAL RISKS AND UNCERTAINTIES

The Board of Trustees and the Risk and Audit Committee provide essential and valued external challenge and advice through an ongoing assessment of the companys emerging and principal risks. Notably, our Board committees have provided challenge and support to management on the key risks impacting the company over the past 12 months. Principal amongst these risks have been:

48 NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

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FINANCIAL REVIEW
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RESULTS FOR THE YEAR

The net expenditure and total reduction in reserves for the year ended 30 September 2025 amounted to £2,977k (2024: £4,573k increase). The main drivers for the movement between years was down to signifiant internal investment back into capital asset base and investment in strategically aligned project delivery.

INCOME

Total income for the year for the group amounted to £87,915K (2024 : £86,213K). The income was principally derived from UKRI-NERC funding for research, the operation of research infrastructure, data management and services and facilities of £55,023K (2024: £63,484K). A further £15,271K (2024: £13,852K) of other grant income was derived from other grants such as EU and GCRF funding.

EXPENDITURE

Total expenditure for the year amounted to £90,892K (2024: £81,640K). Staff costs accounted for £47,202K (52%) (2024: £41,998K, 51%) of expenditure in the year. The increase in staff costs compared to the prior year relates to the annual pay award.

BALANCE SHEET

Balance sheet remains in a healthy position with reserves totalling £28,869K (2024: £31,846K).

CASH FLOW

Cash levels remains in a healthy position totalling £34,850K (2024: £26,528K). Operational cash flows have remained steady and the movement year on year is largely due to recognising £8,000K, previously included in longer term investments.

RESERVES POSITION AND POLICY

The NOC recorded a net increase in unrestricted reserves of £866K (2024: £1,601K increase) while there was a £1,269K decrease (2024: £87K decrease) recorded in restricted reserves. This is due to the phasing and timing of projects, with some income being received for restricted projects in one financial year and expenditure occuring in subsequent financial years. The restricted fixed asset reserves decreased by £2,574K (2024: £3,059K decrease) being the net of capital additions, capital disposals and depreciation charged during the year to this reserve.

It is the policy of the Trustees to ensure that an amount is held in the unrestricted reserves to mitigate against operational risk likely to materialise over any 12-month period.

As at 30 September 2025 unrestricted reserves were £20116K (2024: £19,250K). The investment of unrestricted reserves is set out in the Investment Policy below..

INVESTMENT POLICY

The investment policy ensures that unrestricted reserves earmarked for investment opportunities are agreed, prioritised and approved in line with the NOC Strategy and Business Plan. As well as ensuring the delivery of the associated benefits and enhanced capability, whether this is financial or qualitative or both.

NOC will use the TRAC (Transparent Approach to Costing) FEC (Full Economic Cost) as the framework for pricing all contracts and projects and so ensuring it monitors its sustainability. Under TRAC there is the Margin for Sustainability and Investment (MSI) that is built into the FEC recovery that will contribute to the unrestricted reserves annually and then become the overall investment pot and provide ongoing risk cover. It is in the interests of the charity and the beneficiaries of NOC to continue to invest in new capability and further the aims of the charity in terms of its advance of science. TRAC requires that NOC does not hold too much in the sustainability reserve and encourages continual investment using the amount over the sustainability margin.

The Board approved an investment of £850k out of unrestricted reserves in May 2022 and determined to continue to commit to investing at least £850k each year to upgrade and replenish assets and infrastructure transferred to NOC when its activities commenced. During the current year the Trustees approved investment of free cash into cash deposits to mitigate against the rising costs of overheads.

Deposits placed yielded interest of £1,412K (2024: £1,418K) during the year.

The Finance and Investment Committee are putting in place a 5-year investment plan. The committee is inviting business cases from staff for investment in furthering its charitable objectives to bring the plan into action. In considering each case the Finance and Investment Committee will look to ensure it is for the purposes of making a return as well as investing in the strategic aims of NOC. Investments will be kept under regular review for performance.

TRADING SUBSIDIARY

NOCs trading subsidiary, National Oceanography Centre Innovations Limited, was incorporated on 9 October 2019 and is a wholly-owned subsidiary of NOC. In the year to 30 September 2025 the subsidiary reported a loss for the financial year of £224K (2024: loss £190K).

There is an Operating Agreement in place between the charity and the trading subsidiary to ensure there is a structured and governed relationship. This includes detailed clauses which ensure the protection of licensed IP for the charity.

The reserves policy states that £8,000K of unrestricted reserves is required to be held as free cash for operational risk cover. This was deemed to still be applicable in FY25.

The trading subsidiary undertakes four significant areas of activity; product sales (marine data products), Events (Commercial activity only), Intellectual Property licensing (agreements) and

FINANCIALREVIEW

49

----- Start of picture text -----
CHART1INCOME £000
CHART2EXPENDTURE £000
CoreGrant 47222
StaffCosts 47202
OtherUKRGrant 7512
VesseCosts 12533
OtherGrant 10506
ResearchEqupment&Consumabes 7262
EUGrant 4765 ResearchServces -
NOCnnovatonsncome 8332
Premses&EstateCosts 8668
Tradngncome 6825 AdmnstratonCosts 1428
nvestmentncome 1412
Deprecaton&Amortsaton 4264
Otherncome 81
Othercosts 9587
Donatons 971
TOTALINCOME 87626
TOTALEXPENDTURE 90944
----- End of picture text -----

Marine Robotic Innovation Centre – membership and renewal.

The Chair of NOC Innovations reports to the NOC Board of Trustees. The Board of Trustees review the progress of the subsidiary, ensuring that the strategic objectives of the subsidiary are not in conflict with its own and that the financial return is satisfactory. Two members of the NOC Board of Trustees is a member of the trading subsidiary board..

FUNDRAISING POLICY

NOC seeks to ensure all fundraising activity is conducted with due regard to the guidance of the Charitys Commission and the Fundraising Regulator. NOC has undertaken limited fundraising activity during the year to 30 September 2025. Going forward, NOCs approach to fundraising will be to seek support from charitable foundations, trusts and corporations through their foundations. In addition, there will be the opportunity for the public to donate via regular or one-off giving or supporting fundraising events.

PLANS FOR FUTURE PERIODS

Our Five-Year Strategy, put in place when NOC was made independant from government, has now concluded and as a result we are due to launch an exciting new 10 year strategy, starting October 2025. This is an exciting phase for NOC, moving into the future and our new strategic goals will enable us to maintain commitment and delivery of our Charitable Objectives.

Detailed in the ‘Future Plans’ section of the Trustees’ Report (incorporating the Strategic Report) are the activities we’ll be focusing on between 2025-35 and our funding framework will continue to diversify to support this. From a financial perspective, the Board is satisfied that resources are aligned to support these priorities and has considered the going concern basis in approving the financial statements”

GOING CONCERN

"NOC has put together a new Ten-Year Business Plan which continues to bring together the National Capability funding from NERC-UKRI with signed research projects and those in

50 NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

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STATEMENT OF TRUSTEES’ RESPONSIBILITY
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the pipeline and has a clear emphasis on diversification of income. For the year 2024/25, a bottom-up budgeting process was carried out reviewing the full current cost base of NOC. To support delivery of our new strategy, reserves are being committed to ensure we have the necessary resources in place to achieve our ambitious strategic aims. The cost base is covered by funded projects, with some resource available to deliver new projects that are in the pipeline or early stages of bid development. We are continuing to use designated reserves to deliver key strategic projects which have not attracted external funding but

which align with both our strategic and charitable aims. NOC is deploying detailed resource planning to inform recruitment. Looking ahead to 2025/26 and beyond, there is increasing capacity to take on new funded projects, with plans to generate income through fundraising and NOC Innovations activity. Taking into consideration signed Awards for National Capability infrastructure and science facilities and services spanning the next three to five years, current indications of recommissioning for National Capability Science, previous success rates in research grant rounds, sustained bid submission and marketing-based income forecasts, the indications are that once the new strategy is embedded and underpinned by reserve commitments, NOC can continue to cover its cost base over the coming ten-year period.

On this basis, and after reviewing detailed budgets and forecasts, the trustees have concluded that there are no material uncertainties that cast significant doubt on the charitys ability to continue as a going concern for at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

In conclusion there are no material uncertainties to cast doubt on NOCs ability to continue as a going concern.

DISCLOSURE OF INFORMATION TO AUDITOR

Each of the persons who are Trustees at the time when this Trustees' report was approved has confirmed that so far as the Trustee is aware, there is no relevant audit information of which the charitable company's auditor is unaware; and that Trustees have taken all the steps that ought to have been taken by the Trustees in order to be aware of any relevant audit information and to establish that the charitable cpany's auditor is aware of that info.

Approved by order of the members of the Board of Trustees on 17 December 2025 and signed on their behalf by:

SIR JEREMY DARROCH CHAIR OF BOARD OF TRUSTEES

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees’ Report including the Strategic Report and the financial statements in accordance with applicable law and Regulations.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 Group and the Charity and of the incoming resources and application of resources, including the income and expenditure of the Group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitys transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 & 8 of the Charities Accounts (Scotland) Regulations 2006, as amended. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Financial statements are published on the Charitys website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Charitys website is the responsibility of the Trustees. The Trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

Approved by order of the members of the Board of Trustees on 17 December 2025 and signed on their behalf by:

SIR JEREMY DARROCH CHAIR OF BOARD OF TRUSTEES

FINANCIALREVIEW

51

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INDEPENDENT AUDITOR’S REPORT
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TO THE MEMBERS AND TRUSTEES OF NATIONAL OCEANOGRAPHY CENTRE

OPINION ON THE FINANCIAL STATEMENTS

In our opinion the financial statements:

We have audited the financial statements of National Oceanography Centre (“the Parent Charitable Company”) and its subsidiary (“the Group”) for the year ended 30 September 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charity balance sheet, the consolidated statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and the Parent Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditors report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OTHER COMPANIES ACT 2006 REPORTING

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

INDEPENDENCE

We remain independent of the Group and the Parent Charitable Company in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRCs Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees’ use of the going

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in the Strategic report or Directors’ and Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006requires us to report to you if, in our opinion:

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misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

NON-COMPLIANCE WITH LAWS AND REGULATIONS

Based on:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the statement of trustees’ responsibility, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and

fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Groups and the Parent Charitable Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

EXTENT TO WHICH THE AUDIT WAS CAPABLE OF DETECTING IRREGULARITIES, INCLUDING FRAUD

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material

We considered the significant laws and regulations to be the Companies Act 2006, Charity regulations in England and Scotland and UK tax legislation.

The Group is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be health, safety and environmental legislation.

Our procedures in respect of the above included:

FRAUD

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

INDEPENDENTAUDITORSREPORTTOTHEMEMBERSANDTRUSTEESOFTHENATIONALOCEANOGRAPHYCENTRE

53

DAVID I'ANSON (SENIOR STATUTORY AUDITOR) FOR AND ON BEHALF OF BDO LLP, STATUTORY AUDITOR SOUTHAMPTON, UK

BDOLLPsamtedabtypartnershpregsterednEngandandWaes(wthregsterednumberOC305127)

Based on our risk assessment, we considered the areas most susceptible to fraud to be the posting of inappropriate journal entries to manipulate financial results, particularly in relation to recording revenue in the correct period.

19 December 2025

Our procedures in respect of the above included testing a sample of journal entries throughout the year, which met a defined risk criterion, by agreeing to supporting documentation

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Councils (“FRCs”) website at:

https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors report.

USE OF OUR REPORT

This report is made solely to the Charitable Companys members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the Charitable Companys trustees, as a body, in accordance with the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the Charitable Companys members and trustees those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Companys members as a body and the Charitable Companys trustees as a body, for our audit work, for this report, or for the opinions we have formed.

54 NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

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CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
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FOR THE YEAR ENDED 30 SEPTEMBER 2025
INCORPORATING AN INCOME & EXPENDITURE ACCOUNT		 UNRESTRICTED RESTRICTED RESTRICTED
FIXED ASSET		 TOTAL
COMPANY NUMBER: 11444362 NOTE FUNDS FUNDS FUNDS 2025
£'000 £'000 £'000 £'000
Income from:
Donations, grants and legacies 1 39,559 30,940 766 71,265
Income from trading subsidiary 10 8,332 - - 8,332
Other trading activities 2 3,458 3,367 - 6,825
Investments 3 1,412 - - 1,412
Other income 2a 81 - - 81
-------------- -------------- -------------- --------------
Total incoming resources 52,842 34,307 766 87,915
-------------- -------------- -------------- --------------
Expenditure on:
Raising funds:
Expenditure from trading subsidiary 10 8,556 - - 8,556
Charitable activities 4 43,420 35,576 3,340 82,336
-------------- -------------- -------------- --------------
Total expenditure 51,976 35,576 3,340 90,892
-------------- -------------- -------------- --------------
Net income/ (expenditure) 866 (1,269) (2,574) (2,977)
-------------- -------------- -------------- --------------
Net movement in funds 15 866 (1,269) (2,574) (2,977)
-------------- -------------- -------------- --------------
Reconciliation of funds:
Fund balances at beginning of year 15 19,250 2,463 10,133 31,846
Net movement in funds 866 (1,269) (2,574) (2,977)
-------------- -------------- -------------- --------------
Total fund balances at 30 September 2025 15 20,116 1,194 7,559 28,869
-------------- -------------- -------------- --------------

CONSOLIDATEDSTATEMENTOFFINANCIALACTIVITIESAT30SEPTEMBER2025

55

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FOR COMPARATIVE PURPOSES –
FINANCIAL PERFORMANCE FOR THE PRIOR FINANCIAL YEAR		 UNRESTRICTED RESTRICTED RESTRICTED
FIXED ASSET		 TOTAL
NOTE FUNDS FUNDS FUNDS 2024
£'000 £'000 £'000 £'000
Income from:
Donations, grants and legacies 1 42,403 28,066 7,058 77,527
Income from trading subsidiary 10 2,435 - - 2,435
Other trading activities 2 4,242 529 - 4,771
Investments 3 1,418 - - 1,418
Other income 2a 58 4 - 62
-------------- -------------- -------------- --------------
Total incoming resources 50,556 28,599 7,058 86,213
-------------- -------------- -------------- --------------
Expenditure on:
Raising funds:
Expenditure from trading subsidiary 10 2,625 - - 2,625
Charitable activities 4 46,330 28,686 3,999 79,015
-------------- -------------- -------------- --------------
Total expenditure 48,955 28,686 3,999 81,640
-------------- -------------- -------------- --------------
Net income/ (expenditure) 1,601 (87) 3,059 4,573
-------------- -------------- -------------- --------------
Net movement in funds 15 1,601 (87) 3,059 4,573
-------------- -------------- -------------- --------------
Reconciliation of funds:
Fund balances at beginning of year 15 17,649 2,550 7,074 27,273
Net movement in funds 1,601 (87) 3,059 4,573
-------------- -------------- -------------- --------------
Total fund balances at 30 September 2024 15 19,250 2,463 10,133 31,846
-------------- -------------- -------------- --------------

All amounts are derived from continuing activities during the above two periods. The consolidated statement of financial activities includes all gains and losses recognised in the year.

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CONSOLIDATED BALANCE SHEET
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AT 30 SEPTEMBER 2025
COMPANY NUMBER: 11444362
NOTE 2025 2025 2024 2024
£'000 £'000 £'000 £'000
Fixed assets
Intangible assets 8 - -
Tangible assets 9 16,239 16,655
Investments 10 - -
-------------- --------------
Total Fixed Assets 16,239 16,655
Current assets
Investments 10 - 8,000
Stock 11 1,060 566
Debtors 12 20,634 13,630
Cash at bank and in hand 17 34,850 26,528
-------------- --------------
Total Current Assets 56,544 48,724
Creditors: amounts falling due within one year 13 (43,914) (33,533)
-------------- --------------
Net current assets 12,630 15,191
-------------- --------------
Net assets 16 28,869 31,846
-------------- --------------
Funds
Unrestricted 15 20,116 19,250
Restricted 15 1,194 2,463
Restricted fixed asset 15 7,559 10,133
-------------- --------------
Total funds 15 28,869 31,846
-------------- --------------

The financial statements were approved and authorised for issue by the Trustees on 17th December 2025 and signed on their behalf by:

SIR JEREMY DARROCH CHAIR OF BOARD OF TRUSTEES

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CHARITY BALANCE SHEET
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AT 30 SEPTEMBER 2025
COMPANY NUMBER: 11444362
NOTE 2025 2025 2024 2024
£'000 £'000 £'000 £'000
Fixed assets
Intangible assets 8 - -
Tangible assets 9 16,239 16,655
Investments 10 - -
-------------- --------------
Total Fixed Assets 16,239 16,655
Current assets
Investments 10 - 8,000
Stock 11 1,060 566
Debtors 12 18,523 13,473
Cash at bank and in hand 17 34,548 25,949
-------------- --------------
Total Current Assets 54,131 47,988
Creditors: amounts falling due within one year 13 (40,949) (32,469)
-------------- --------------
Net current assets 13,182 15,519
-------------- --------------
Net assets 16 29,421 32,174
-------------- --------------
Funds
Unrestricted 15 20,668 19,578
Restricted 15 1,194 2,463
Restricted fixed asset 15 7,559 10,133
-------------- --------------
Total funds 15 29,421 32,174
-------------- --------------

As permitted by S408 of the Companies Act 2009, the Charity has not presented its own income and expenditure account and related notes. The Charitys deficit for the year was £2753K (2024: surplus £4763K).

The financial statements were approved and authorised for issue by the Trustees on 17th December 2025 and signed on their behalf by:

SIR JEREMY DARROCH CHAIR OF BOARD OF TRUSTEES

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CONSOLIDATED STATEMENT OF CASH FLOWS
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AT 30 SEPTEMBER 2025
COMPANY NUMBER: 11444362
NOTE 2025 2024
£'000 £'000
Cash flows from operating activities
(Deficit) / Surplus for the year: (2,977) 4,573
Depreciation 5 4,264 4,896
Amortisation 5 - 1
Loss on disposal of fixed assets 233 746
Investment income 3 (1,412) (1,418)
(Increase) in stock 11 (494) (13)
(Increase) in debtors 12 (7,004) (103)
(Decrease)/ increase in creditors 13 10,381 (5,033)
-------------- --------------
Net cash provided by operating activities 2,991 3,649
Cash flows from investing activities
Investment income 3 1,412 1,418
Decrease / (Increase) in cash deposits > 90 days 10 8,000 (4,000)
Purchase of tangible assets 9 (4,081) (7,886)
-------------- --------------
Net cash generated from/(used in) investing activities 5,331 (10,468)
Increase in cash and cash equivalents in the year 8,322 (6,819)
-------------- --------------
Cash and cash equivalents at the beginning of the year 17 26,528 33,347
-------------- --------------
Cash and cash equivalents at the end of the year 17 34,850 26,528
-------------- --------------

The Group has no debt and hence a reconciliation of net debt has not been prepared.

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Thenotesonpages60-75formpartofthesefnancastatements

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NOTES TO THE FINANCIAL STATEMENTS
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS

GOING CONCERN

The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements have been prepared in accordance with the Charities SORP, 2nd Edition (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.

National Oceanography Centre 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.

The financial statements are prepared in Sterling, which is the functional currency of the Group. Monetary amounts in these financial statements are rounded to the nearest thousand pounds.

The Trustees have reviewed whether it is appropriate for the financial statements to be prepared on a going concern basis.

The key assumption in assessing going concern is that NOCs key funders (UKRI and EU) have continued to pay as per their schedules, and the costs of delivery can continue to be met against rising inflation.

NOC has put together a Five-Year Business Plan which brings together the National Capability funding from NERC-UKRI with signed research projects and those in the pipeline. For the year 2025/26 a bottom up budgeting process was carried out reviewing the full current cost base of NOC which has been trimmed back to achieve some savings assisting with the rising inflation. As such the cost base is covered by funded projects with some resource available to deliver new projects that are in the pipeline or in early stages of bid development at present. NOC is deploying detailed resource planning to inform recruitment.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Groups accounting policies.

The following principal accounting policies have been applied consistently:

BASIS OF CONSOLIDATION

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line-by-line basis.

The Parent Charitable Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

As the forecast goes out to 2026/27 and beyond there is more capacity to take on new funded projects, at this time the plan starts to forecast increased income from fundraising and NOC Innovations activity. Once this takes more shape the recruitment will be planned around the skills needed to deliver new areas of activity. Taking into consideration, signed Awards for National Capability infrastructure and science facilities and services spanning the next 3-5 years, current indications of recommissioning for National Capability Science, previous success rates in research grant rounds with sustained bid submission and forecast of future income based on marketing analysis the indications are that NOC can continue to cover its cost base over the coming five-year period.

In conclusion there are no material uncertainties to cast doubt on NOCs ability to continue as a going concern.

INCOME

EXEMPTIONS FOR QUALIFYING ENTITIES UNDER FRS 102

The Parent Charitable Company has taken advantage of the following disclosure exemptions available in FRS 102:

All income is recognised once the Group 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 Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the year 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. Donations and grants for particular purposes are included in income as restricted funds.

Where grants relate to donated fixed assets, they are measured at fair value, unless it is

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impractical to measure this reliably, in which case the cost of the item to the donor is used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life, in accordance with the Groups accounting policies.

Investment income relates to interest on funds held on deposit and is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Incoming resources from charitable trading activity are accounted for when earned.

Where a contract for services is performed gradually over time the revenue is recognised as the activity progresses. The amount of revenue reflects the costs incurred up to the balance sheet date.

All other income is recognised on an accruals basis once the Group is legally entitled to receipt.

FOREIGN CURRENCIES

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Consolidated Statement of Financial Activities.

INTANGIBLE ASSETS AND AMORTISATION

Intangible assets are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 assets use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Groups objectives, as well as any associated support costs.

Governance costs include those incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory requirements.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

The estimated useful lives are as follows:

Computer software- 5 years straight line

TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Assets in the course of construction are included at costs incurred to date. Depreciation on these assets is not charged until they are brought into use.

All expenditure is inclusive of irrecoverable VAT.

At each reporting date the Charity assesses whether there is any indication of impairment. If such

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indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

CASH AND CASH EQUIVALENTS

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.

Depreciation is charged on a straight-line basis over their estimated useful lives.

Depreciation is provided on the following bases Scientific equipment - 3 to 5 years Marine pool - 10 years Fixtures and fittings - 5 years Computer equipment - 3 to 5 years Plant and machinery - 10 years Motor Vehicles - 5 years

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Where an asset is purchased as a part of delivering a specific grant, the life of the asset is equivalent to the life of the project funded by the grant.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Financial Activities.

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.

Liabilities are recognised at the amount that the Group anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

FINANCIAL INSTRUMENTS

The Group 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.

OPERATING LEASES

Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight-line basis over the lease term.

PENSIONS

INVESTMENTS

Investments in subsidiaries are valued at cost less provision for impairment.

STOCKS

Stocks comprise of fuel held in storage for vessels and ship bond stock. Fuel stock is recorded at cost. Ship bond stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

The Group operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

The Group is also participating in a multi-employer plan with The National Environmental Research Council which is a defined benefit scheme funded from annual grant in aid on a pay as you go basis. It is not possible for the Group to obtain sufficient information to enable it to account for the plan as a defined benefit plan, it therefore accounts for the plan as a defined contribution plan.

DEBTORS

TAXATION

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.

Work in progress reflects the costs incurred to balance sheet date on a contract for services.

National Oceanography Centre, as a registered charity, is exempt from corporation tax to the extent that surpluses are applied to its charitable activities. No corporation tax charge arises in the charitys subsidiary due to its policy of gift aiding all taxable profits to National Oceanography Centre each year.

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CRITICAL AREAS OF ESTIMATES

Irrecoverable VAT is charged against the category of total expenditure for which is was incurred.

Depreciation is a key estimate in the accounts which requires management judgement over the useful life of the assets and the residual values. The policy has been set out in the notes above.

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 Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group 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.

Restricted fixed asset funds represent the moveable assets of the National Oceanography Centre, being the plant, equipment (including IT equipment), libraries, stocks, inventory and consumables of the operation. Without them the National Oceanography Centre could not operate. They are shown separately to other unrestricted funds due to the size and importance of these assets to the National Oceanography Centre.

Investment income, gains and losses are allocated to the appropriate fund.

GIFT AID DONATIONS MADE TO THE CHARITY

Donations made by the subsidiary to the Parent Charity are recognised as income in the charity either when paid or at the date when the subsidiary has a legal liability to make the donation payment if earlier.

RESEARCH VESSELS

NOC operates and manages two research vessels owned by UKRI under a bareboat charter at peppercorn rates. The terms of the bareboat charter do not meet the definition of a lease and, due to the unique nature of the vessels, it is not possible to reasonably quantify the value ascribed to the ownership and operation of them.

CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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1 INCOME FROM DONATIONS AND LEGACIES

1 INCOME FROM DONATIONS AND LEGACIES
UNRESTRICTED RESTRICTED RESTRICTED
FIXED ASSET		 TOTAL TOTAL
FUNDS FUNDS FUNDS FUNDS FUNDS
2025 2025 2025 2025 2024
GROUP AND CHARITY £'000 £'000 £’000 £'000 £'000
Donations:
Other donations 208 763 - 971 191
-------------- -------------- -------------- -------------- --------------
Total Donations 208 763 - 971 191
-------------- -------------- -------------- -------------- --------------
Income from grants:
UKRI NERC grant 16,694 30,494 323 47,511 54,124
UKRI other grants 8,391 (879) - 7,512 9,360
Other grants 14,266 562 443 15,271 13,852
-------------- -------------- -------------- -------------- --------------
Total Grants 39,351 30,177 766 70,294 77,336
-------------- -------------- -------------- -------------- --------------
Total Donations and Grants 39,559 30,940 766 71,265 77,527
-------------- -------------- -------------- -------------- --------------

2 INCOME FROM TRADING ACTIVITIES

2 INCOME FROM TRADING ACTIVITIES
UNRESTRICTED RESTRICTED TOTAL TOTAL
FUNDS FUNDS FUNDS FUNDS
2025 2025 2025 2024
GROUP AND CHARITY £'000 £'000 £'000 £'000
Rental 755 - 755 527
Disbursements 2,615 485 3,100 2,267
Maintenance and repairs income 2 2,880 2,882 1,910
Bond sales 58 - 58 60
Other trading income 28 2 30 7
-------------- -------------- -------------- --------------
Total Other Trading Income 3,458 3,367 6,825 4,771
-------------- -------------- -------------- --------------
2A OTHER INCOME
UNRESTRICTED RESTRICTED TOTAL TOTAL
FUNDS FUNDS FUNDS FUNDS
2025 2025 2025 2024
GROUP AND CHARITY £'000 £'000 £'000 £'000
Other Income 81 - 81 62
-------------- -------------- -------------- --------------

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3 INCOME FROM INVESTMENTS

3 INCOME FROM INVESTMENTS
UNRESTRICTED TOTAL TOTAL
FUNDS FUNDS FUNDS
2025 2025 2024
GROUP AND CHARITY £'000 £'000 £'000
Bank interest 1,412 1,412 1,418
-------------- -------------- --------------

4 EXPENDITURE ON CHARITABLE ACTIVITIES

STAFF VESSEL RESEARCH ESTATE OTHER
COSTS COSTS COSTS COSTS DEPRECIATION COSTS TOTAL TOTAL
2025 2025 2025 2025 2025 2025 2025 2024
GROUP AND CHARITY £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Activities undertaken directly
Scientific research 29,559 12,108 6,130 1,296 1,566 - 50,659 53,216
Support costs
- Administration costs 17,643 425 1,081 7,372 2,698 532 29,751 25,335
- Governance costs - - - - - 1,926 1,926 464
---------- ---------- -------------- ---------- -------------- ------------- -------------- --------------
Total Expenditure 47,202 12,533 7,211 8,668 4,264 2,458 82,336 79,015
---------- ---------- -------------- ---------- -------------- ------------- -------------- --------------
TOTAL TOTAL
FUNDS FUNDS
2025 2024
GROUP AND CHARITY £'000 £'000
Analysis of governance costs
Audit fees:
- Audit of financial statements 132 126
- Other fees paid to auditors 73 106
Trustee remuneration and 6 9
expenses
Legal and professional fees 274 211
Operating Leases 1,425 1,418
-------------- --------------
Total Governance costs 1,926 1,870
-------------- --------------

Total expenditure on charitable activities for the year was £82,336K (2024: £79,015K). Of that expenditure £43,420K (2024: £46,330K) was unrestricted, £35,576K (2024: £28,686K) was restricted and £3,340K (2024: £3,999K) was restricted fixed asset funds.

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5 NET INCOME

5 NET INCOME
2025 2024
GROUP AND CHARITY £'000 £'000
Net income is stated after charging:
Depreciation of tangible fixed assets 4,264 4,896
Amortisation of intangible fixed assets - 1
Loss on disposal of tangible fixed assets 233 746
(Gain) / Loss on foreign exchange (100) 81
-------------- --------------

6 STAFF COSTS

2025 2024
GROUP AND CHARITY £'000 £'000
Wages and salaries 38,009 33,808
National insurance contributions 4,295 3,537
Pension costs 4,898 4,653
-------------- --------------
Total Staff Costs 47,202 41,998
-------------- --------------

During the year there were redundancy costs of £119K (2024: £201K) which were paid to 5 (2024: 7) members of staff. Of these 2 (2024: 2) were statutory redundancy pay and 3 (2024: 5) were severance pay.

The average number of employees for the year, based on Full-Time Equivalents (FTE) was as follows:

2025 2024
GROUP AND CHARITY NUMBER NUMBER
Science and research staff 307 301
Fundraising staff 3 2
Operations and finance staff 219 215
Engineers and technicians 121 121
Mariners 82 83
-------------- --------------
Total Staff numbers 732 722
-------------- --------------

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024 2025 2024
GROUP AND CHARITY NUMBER NUMBER GROUP AND CHARITY NUMBER NUMBER
£60,001 - £70,000 76 50 £140,001 - £150,000 1 1
£70,001 - £80,000 27 28 £160,001 - £170,000 1 0
£80,001 - £90,000 20 6 £190,001 - £200,000 1 0
£90,001 - £100,000 5 1 -------------- --------------
£100,001 - £110,000 1 3
£110,001 - £120,000 4 1
£120,001 - £130,000 1 0
£130,001 - £140,000 1 1

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6 STAFF COSTS (CONTINUED)

6 STAFF COSTS(CONTINUED)
2025 2024
GROUP AND CHARITY £'000 £'000
Key management personnel salaries (inc.employer pension contributions and National Insurance) 609 392
(Key management personnel are the Senior Management Team, as set out on page 41 of this report) -------------- --------------

7 TRUSTEE REMUNERATION AND EXPENSES

During the year one trustee received remuneration of £4K (2024: one trustee received £9K).

The remuneration was agreed and provided under a provision in the governing document of the Charity. Remuneration was provided due to the Trustees’ role as the Chair of the Audit and Risk Committee, which requires a range of specialist knowledge and experience and has a wide remit in terms of the role that the Trustee is required to provide. No other benefits were provided.

During the year £2K (2024: £1K) of expenses were reimbursed to trustees in relation to travel and subsistence.

During the year professional indemnity insurance of £82K (2024: £82K) was purchased in respect of all the Trustees and Officers of the company.

8 INTANGIBLE FIXED ASSETS

8 INTANGIBLE FIXED ASSETS
COMPUTER
SOFTWARE
GROUP AND CHARITY £'000
Cost
At 1 October 2024 1,609
Additions -
--------------
At 30 September 2025 1,609
--------------
Amortisation
At 1 October 2024 1,609
Charge for the year -
--------------
At 30 September 2025 1,609
--------------
Net book value
At 30 September 2025 -
--------------
At 30 September 2024 -
--------------

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9 TANGIBLE FIXED ASSETS

9 TANGIBLE FIXED ASSETS
SCIENTIFIC MARINE FIXTURES COMPUTER PLANT & MOTOR
EQUIPMENT POOL & FITTINGS EQUIPMENT MACHINERY VEHICLES TOTAL
GROUP £'000 £'000 £'000 £'000 £'000 £'000 £'000
Cost
At 1 October 2024 20,306 13,372 47 3,612 1,898 23 39,258
Additions 821 2,416 587 257 - - 4,081
Disposals (1,187) (209) - (306) (121) - (1,823)
-------------- -------------- -------------- -------------- -------------- -------------- --------------
At 30 September 2025 19,940 15,579 634 3,563 1,777 23 41,516
-------------- -------------- -------------- -------------- -------------- -------------- --------------
Depreciation
At 1 October 2024 13,383 5,824 47 1,510 1,839 - 22,603
Charge for the year 1,889 1,807 50 491 22 5 4,264
On disposals (988) (175) - (306) (121) - (1,590)
-------------- -------------- -------------- -------------- -------------- -------------- --------------
At 30 September 2025 14,284 7,456 97 1,695 1,740 5 25,277
-------------- -------------- -------------- -------------- -------------- -------------- --------------
Net book value
At 30 September 2025 5,656 8,123 537 1,868 37 18 16,239
-------------- -------------- -------------- -------------- -------------- -------------- --------------
At 30 September 2024 6,923 7,548 - 2,102 59 23 16,655
-------------- -------------- -------------- -------------- -------------- -------------- --------------
SCIENTIFIC MARINE FIXTURES COMPUTER PLANT & MOTOR
EQUIPMENT POOL & FITTINGS EQUIPMENT MACHINERY VEHICLES TOTAL
CHARITY £'000 £'000 £'000 £'000 £'000 £'000 £'000
Cost
At 1 October 2024 20,306 13,372 - 3,612 1,898 23 39,211
Additions 821 2,416 587 257 - - 4,081
Disposals (1,187) (209) - (306) (121) - (1,823)
-------------- -------------- -------------- -------------- -------------- -------------- --------------
At 30 September 2025 19,940 15,579 587 3,563 1,777 23 41,469
-------------- -------------- -------------- -------------- -------------- -------------- --------------
Depreciation
At 1 October 2024 13,383 5,824 - 1,510 1,839 - 22,556
Charge for the year 1,889 1,807 50 491 22 5 4,264
On disposals (988) (175) - (306) (121) - (1,590)
-------------- -------------- -------------- -------------- -------------- -------------- --------------
At 30 September 2025 14,284 7,456 50 1,695 1,740 5 25,230
-------------- -------------- -------------- -------------- -------------- -------------- --------------
Net book value
At 30 September 2025 5,656 8,123 537 1,868 37 18 16,239
-------------- -------------- -------------- -------------- -------------- -------------- --------------
At 30 September 2024 6,923 7,548 - 2,102 59 23 16,655
-------------- -------------- -------------- -------------- -------------- -------------- --------------

On 1 November 2019 goodwill and moveable assets - being the plant, equipment (including IT equipment), libraries, stocks, inventory and consumables of the operation, were transferred to the charity by way of a capital grant from UKRI totalling £24,646K.

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10 INVESTMENTS

INVESTMENT IN SUBSIDIARIES

The following was a subsidiary undertaking of the Charity with a nominal value for the investment in the subsidiary of £1:

National Oceanography Centre
Innovations Limited		 12250763 National Oceanography Centre
European Way Southampton United
Kingdom SO14 3ZH		 Development of products and
services based on the output
of ocean science research and
engineering		 Ordinary 100%
2025 2024
£’000 £’000
Income 8,332 2,435
Expenditure 8,556 2,625
-------------- --------------
B/f liabilities (325) (135)
-------------- --------------
Net liabilities (549) (325)
-------------- --------------

INVESTMENT IN CASH DEPOSITS

The value of cash deposits being held for greater than 90 days were:

2025 2024
GROUP AND CHARITY £’000 £’000
Cash Deposits at 30 September - 8,000
-------------- --------------
11 STOCK
2025 2024
GROUP AND CHARITY £’000 £’000
Ship bond 48 48
Marine fuel 1,012 518
-------------- --------------
1,060 566
-------------- --------------

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12 DEBTORS

12 DEBTORS
GROUP GROUP CHARITY CHARITY
2025 2024 2025 2024
GROUP AND CHARITY £'000 £'000 £'000 £'000
Trade debtors 7,053 5,647 4,197 5,306
Group debtors - - 1,593 404
Prepayments 1,770 1,374 1,770 1,374
Accrued income 11,674 6,493 10,827 6,277
Other debtors 137 116 136 112
-------------- -------------- -------------- --------------
Total Debtors 20,634 13,630 18,523 13,473
-------------- -------------- -------------- --------------

13 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR

GROUP GROUP CHARITY CHARITY
2025 2024 2025 2024
GROUP AND CHARITY £'000 £'000 £'000 £'000
Trade creditors 1,677 1,181 1,677 1,181
Due to Marine and EU partners 499 (28) 499 (28)
Pension accrual 431 357 431 357
Social security and other taxes (796) 242 (795) (48)
Accruals 4,050 3,039 4,050 3,039
Deferred income (note 14) 38,053 28,742 35,087 27,968
-------------- -------------- -------------- --------------
Total Creditors 43,914 33,533 40,949 32,469
-------------- -------------- -------------- --------------
14 DEFERRED INCOME
14 DEFERRED INCOME
GROUP GROUP CHARITY CHARITY
2025 2024 2025 2024
GROUP AND CHARITY £'000 £'000 £'000 £'000
At 1 October 28,742 32,626 27,968 31,911
Released to income (62,487) (76,649) (74,844) (76,590)
Amounts deferred in year 71,798 72,765 81,963 72,647
-------------- -------------- -------------- --------------
Carried forward 38,053 28,742 35,087 27,968
-------------- -------------- -------------- --------------

Deferred income relates to grant income, including research grants, which are received in advance of specific conditions being met. The income is shown as deferred until those conditions are fully satisfied.

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15 FUNDS

15 FUNDS
BALANCE AT BALANCE AT
30 SEPTEMBER 30 SEPTEMBER
2024 INCOME EXPENDITURE TRANSFERS 2025
GROUP £'000 £'000 £'000 £'000 £'000
Unrestricted funds
Designated unrestricted:
Designated funds 3,804 6,453 (9,518) 566 1,305
General unrestricted:
Unrestricted funds 15,446 46,389 (42,458) (566) 18,811
-------------- -------------- -------------- -------------- --------------
Total unrestricted funds 19,250 52,842 (51,976) - 20,116
-------------- -------------- -------------- -------------- --------------
Restricted funds
Restricted funds 2,463 34,307 (35,576) - 1,194
Restricted fixed asset funds 10,133 766 (3,340) - 7,559
-------------- -------------- -------------- -------------- --------------
Total restricted funds 12,596 35,073 (38,916) - 8,753
-------------- -------------- -------------- -------------- --------------
Total funds 31,846 87,915 (90,892) - 28,869
-------------- -------------- -------------- -------------- --------------
BALANCE AT BALANCE AT
30 SEPTEMBER 30 SEPTEMBER
2024 INCOME EXPENDITURE TRANSFERS 2025
CHARITY £'000 £'000 £'000 £'000 £'000
Unrestricted funds
Designated unrestricted:
Designated funds 3,804 6,453 (9,518) 566 1,305
General unrestricted:
Unrestricted funds 15,774 38,057 (33,902) (566) 19,363
-------------- -------------- -------------- -------------- --------------
Total unrestricted funds 19,578 44,510 (43,420) - 20,668
-------------- -------------- -------------- -------------- --------------
Restricted funds
Restricted funds 2,463 34,307 (35,576) - 1,194
Restricted fixed asset funds 10,133 766 (3,340) - 7,559
-------------- -------------- -------------- -------------- --------------
Total restricted funds 12,596 35,073 (38,916) - 8,753
-------------- -------------- -------------- -------------- --------------
Total funds 32,174 79,583 (82,336) - 29,421
-------------- -------------- -------------- -------------- --------------

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15 FUNDS (CONTINUED)

PRIOR YEAR COMPARATIVE FIGURES

PRIOR YEAR COMPARATIVE FIGURES
BALANCE AT BALANCE AT
30 SEPTEMBER 30 SEPTEMBER
2023 INCOME EXPENDITURE TRANSFERS 2024
GROUP £'000 £'000 £'000 £'000 £'000
Unrestricted funds
Designated unrestricted:
Designated funds 3,924 1,950 (2,070) - 3,804
General unrestricted:
Unrestricted funds 13,725 48,606 (46,885) - 15,446
-------------- -------------- -------------- -------------- --------------
Total unrestricted funds 17,649 50,556 (48,955) - 19,250
-------------- -------------- -------------- -------------- --------------
Restricted funds
Restricted funds 2,550 28,599 (28,686) - 2,463
Restricted fixed asset funds 7,074 7,058 (3,999) - 10,133
-------------- -------------- -------------- -------------- --------------
Total restricted funds 9,624 35,657 (32,685) - 12,596
-------------- -------------- -------------- -------------- --------------
Total funds 27,273 86,213 (81,640) - 31,846
-------------- -------------- -------------- -------------- --------------
BALANCE AT BALANCE AT
30 SEPTEMBER 30 SEPTEMBER
2023 INCOME EXPENDITURE TRANSFERS 2024
CHARITY £'000 £'000 £'000 £'000 £'000
Unrestricted funds
Designated unrestricted:
Designated funds 3,924 1,950 (2,070) - 3,804
General unrestricted:
Unrestricted funds 13,863 46,171 (44,260) - 15,774
-------------- -------------- -------------- -------------- --------------
Total unrestricted funds 17,787 48,121 (46,330) - 19,578
-------------- -------------- -------------- -------------- --------------
Restricted funds
Restricted funds 2,550 28,599 (28,686) - 2,463
Restricted fixed asset funds 7,074 7,058 (3,999) - 10,133
-------------- -------------- -------------- -------------- --------------
Total restricted funds 9,624 35,657 (32,685) - 12,596
-------------- -------------- -------------- -------------- --------------
Total funds 27,411 83,778 (79,015) - 32,174
-------------- -------------- -------------- -------------- --------------

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15 FUNDS (CONTINUED)

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes, largely represented by surpluses on commercial cruises and capital projects not fully depreciated.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

Restricted funds are comprised of NMEP capital replacement income not fully offset by depreciation and a mix of projects currently being delivered.

Restricted fixed asset funds are funds for the sole use of acquiring the moveable assets of NOC on the 1 November 2019 and subsequent purchases and the expenditure is the subsequent depreciation of these assets.

16 NET ASSETS

FIXED CU
OTHER
RRENT		 CURRENT
ASSETS ASSETS LIABILITIES TOTAL
2025 2025 2025 2025
GROUP £'000 £'000 £'000 £'000
General unrestricted 10,581 34,974 (26,744) 18,811
Designated unrestricted 734 2,799 (2,228) 1,305
Restricted 672 2,560 (2,038) 1,194
Restricted fixed asset 4,252 16,212 (12,905) 7,559
------------ ------------ ------------ ------------
Total Net Assets 16,239 56,545 (43,915) 28,869
------------ ------------ ------------ ------------
FIXED CU
OTHER
RRENT		 CURRENT
ASSETS ASSETS LIABILITIES TOTAL
2024 2024 2024 2024
GROUP £'000 £'000 £'000 £'000
General unrestricted 2,683 41,505 (28,742) 15,446
Designated unrestricted - 3,804 - 3,804
Restricted 2,646 3,390 (3,573) 2,463
Restricted fixed asset 11,326 25 (1,218) 10,133
------------ ------------ ------------ ------------
Total Net Assets 16,655 48,724 (33,533) 31,846
------------ ------------ ------------ ------------

NOTESTOTHEFINANCIALSTATEMENTS

73

16 NET ASSETS (CONTINUED)

16 NET ASSETS(CONTINUED)
FIXED CU
OTHER
RRENT		 CURRENT
ASSETS ASSETS LIABILITIES TOTAL
2025 2025 2025 2025
CHARITY £'000 £'000 £'000 £'000
General unrestricted 10,688 33,789 (25,114) 19,363
Designated unrestricted 720 2,640 (2,055) 1,305
Restricted 659 2,415 (1,880) 1,194
Restricted fixed asset 4,172 15,288 (11,901) 7,559
------------ ------------ ------------ ------------
Total Net Assets 16,239 54,132 (40,950) 29,421
------------ ------------ ------------ ------------
FIXED CU
OTHER
RRENT		 CURRENT
ASSETS ASSETS LIABILITIES TOTAL
2024 2024 2024 2024
CHARITY £'000 £'000 £'000 £'000
General unrestricted 2,730 41,153 (28,109) 15,774
Designated unrestricted - 3,804 - 3,804
Restricted 2,646 3,007 (3,190) 2,463
Restricted fixed asset 11,279 24 (1,170) 10,133
------------ ------------ ------------ ------------
Total Net Assets 16,655 47,988 (32,469) 32,174
------------ ------------ ------------ ------------
17 CASH AND CASH EQUIVALENTS
GROUP GROUP CHARITY CHARITY
2025 2024 2025 2024
£'000 £'000 £'000 £'000
Cash at bank 34,850 26,528 34,549 25,949
------------ ------------ ------------ ------------
19 OPERATING LEASE COMMITMENTS
2025 2024
GROUP AND CHARITY £'000 £'000
No later than 1 year 1,425 1,418
Between 1 and 5 years 4,270 5,670
------------ ------------
Total Operating Lease Commitments 5,695 7,088
------------ ------------

NATIONALOCEANOGRAPHYCENTREANNUALREPORT&FINANCIALSTATEMENTS2024/25

74

20 RELATED PARTY TRANSACTIONS

The Charity has made use of the exemptions in section 33.1A of FRS 102 and has chosen not to disclose transactions with its wholly owned subsidiary, as these are eliminated on consolidation.

Transactions with Trustees are detailed in note 7.

21 PENSION COMMITMENTS

UKRI-NERC employees are entitled to be members of the Research Council’s Pension Scheme which is a defined benefit scheme funded from annual grant-in-aid and pay-as-you-go basis. The pension scheme is contributory and is administered by the Research Council’s Joint Superannuation Service.

The scheme is a multi-employer scheme, for which a separate Research Council’s Pension Scheme account is published. NERC are unable to identify their share of the underlying assets and liabilities and those relating to NOC.

Employees who joined after 1 November 2019 are entitled to be members of the National Oceanography Centre Group Pension Scheme. This is a defined contribution pension scheme administered by Legal and General. Contributions for the year were employer’s 10% and employees a minimum of 5%.

The pension costs charge for the year represents contributions payable to the schemes and amounted to £4,898K (2024: £4,653K). Outstanding payments for pension included in creditors at year end amounted to £431K (2024: £357K).

NOTESTOTHEFINANCIALSTATEMENTS

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