Keane & Co
Chartered Accountants
Registered Auditors 1 - 2 Moorside Court
Yelverton Business Park
Devon
PL20 7PE
REGISTERED COMPANY NUMBER: 1001233 (ENGLAND AND WALES)
REGISTERED CHARITY NUMBER: 2563736
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31ST DECEMBER 2009
FOR
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2009
Page
Report of the Trustees 1 to 7
Report of the Independent Auditors' 8 to 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Notes to the Financial Statements 13 to 20
Detailed Income and Expenditure Account 21
Page 1
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2009
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their
report with the financial statements of the charity for the year ended 31st December 2009. The trustees have
adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 1001233
Registered Charity number 2563736
Registered office The Laboratory
Citadel Hill
Plymouth
Devon PL1 2PB
Trustees Professor P Holligan President
A G A Wates MBE Honorary Treasurer
Dr R P Harris Vice President
Dr K M Brander Professor R J Pentreath
Ms C Mitchell
Professor R Williamson Resigned 29th April 2009 Dr H Dooley
Dr R Emmerson
Professor A Warner Professor T Malone Resigned 29th April 2009
Professor P Hart
Dr G Hosie
Ms B Greenaway
Company Secretary
Professor P Burkill Director
Auditors
Keane & Co Chartered Accountants
Registered Auditors
1 - 2 Moorside Court
Yelverton Business Park Devon
PL20 7PE
Page 2
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2009
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Lloyds TSB CAF Bank
Birmingham Midshires
Solicitors Caroline Mitchell
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity was established in 1990 to maintain the Continuous Plankton Recorder Survey and constitutes a
limited company, limited by guarantee, as defined by the Companies Act 2006. It is controlled by its governing documents, the Memorandum of Association and Articles of Association, first signed in
November 1990.
The objects of the Foundation set out in the Memorandum of Association are, "to promote and advance
education and knowledge about the marine environment for the public benefit by disseminating information
derived from the study of plankton populations in the oceans and coastal seas".
The word Limited is omitted from the name of the company in accordance with the Companies Act 2006.
The liability of the members is limited to £1 per member.
Recruitment and appointment of new trustees
The Foundation is managed by a Council of Management and the Trustees are referred to as Members in the
governing documents. The charity recruits Trustees from academic scientists from the UK and
internationally, both to maintain strong linkages within marine science and also to engage with potential
sources of funding from the UK and overseas. Non-academic skills are represented and the Council aims to recruit more non-academics with sound business skills to encourage future growth. The procedure for
nominating new members to Council was agreed at 29th Council Meeting in November 2005.
Under the requirements of the governing documents, members serve for three years after which they may be
re-elected at the next Annual General Meeting. In 2009 Professor R Williamson and Professor T Malone
resigned from Council.
Page 3
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2009
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees Most new Trustees are previously aware of the work of the Survey and at the Spring Council Meeting in
Plymouth they visit the laboratory to meet formally with the individual members of staff. New Trustees are
given a written briefing by the President enclosing the following documents:
- The governing documents
- Minutes of recent Meetings
- The Annual Report - The Development Plan
- The Trustees' job description plan
- Charity Commission Document CC3 "The Essential Trustee" - List of Members
Organisational structure
The affairs of the Foundation are managed by a Council of Management whose Members are Directors of the company for the purposes of the Companies Act and Trustees for the purpose of Charity Law.
Membership of the Foundation comprises the President, Vice President, Honorary Treasurer, Members and Honorary Governors. The Council meets bi-annually in Apr/May and Oct/Nov with the AGM in the spring.
Sponsoring Governors are also appointed but are not Members.
In 2006 the Council established a Finance and Resources Sub Committee to take delegated responsibility for financial management and compliance.
The Director of the Foundation is Secretary to the Council. Council delegates responsibility for running the Foundation and the Survey to the Director in accordance with a written instrument.
Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error. The risk register
identifying both financial and operational risk from the bottom up is reviewed and updated twice each year.
The Foundation’s current risk policy was confirmed as still valid.
The Trustees are alerted to operational and financial risks at their biannual meetings of the Council. The
Director's report to the council explicitly sets out the work of the Charity and the aspirations for the future. Through this report and detailed analysis, enquiry and strategic decision making, the Trustees are exercising
an active review of major risk.
Income has been kept under formal frequent scrutiny and an analysis of forecast funding for 2010 has helped
identify the Foundation’s breakeven point and hence areas of surplus funding. The Virement of funds thus
remains visible. Internal procedures remain in place to ensure compliance with health and safety regulations
both for staff and for those responsible for the operation of the survey recorders.
Page 4
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2009
OBJECTIVES AND ACTIVITIES
Objectives and aims The aim over the next 3 years is to consolidate the existing monitoring while developing more sampling
routes in the areas of emerging scientific interest. This will provide an accessible, reliable and up to date
base-line and time-series for scientific research and for the assessment of the plankton ecosystem in order
inform debate and decision making. This will also build the Foundation’s reputation as the lead authority in planktonic research.
The Director's Objectives are set by the Foundation in order to achieve the Survey's Aim and improve the quality of the Outputs. In 2008 these were laid down in the Science Strategy and Implementation Plan which
will be reviewed annually. Additionally, both a corporate strategy and business plan have also been
developed in 2008 and give greater clarity of the Foundation’s ambitions.
Significant activities
In addition to the Director, the Foundation staff consists of CPR operations staff (responsible for the deployment and maintenance of the Continuous Plankton Recorders (CPRs) on ships of opportunity),
plankton analysts (responsible for analysing the plankton content of information collected by the CPRs),
researchers (also analysts), and staff for the maintenance of the CPR Database, education and administration. All are paid employees. The CPRs are deployed by ships of opportunity and the Foundation enjoys
unparalleled links with Merchant Shipping Companies, on whose voluntary goodwill the Survey is reliant.
ACHIEVEMENT AND PERFORMANCE
In terms of scientific output 2009 was another productive year for SAHFOS. A total of 49 papers have been published, 29 in peer-reviewed literature and more than 90% of these involved international co-authorship.
Fifty three requests for our data were received in 2009. Operationally the Foundation has increased its
sampling footprint with consolidation in the Arctic Circle with a second route (Iceland to Norway) to add to that between northern Norway and Svalbard
Public Benefit SAHFOS manages the Continuous Plankton Recorder Survey – the longest, most geographically extensive marine
biological survey in the World. It contains a unique dataset of marine biodiversity using the ecological status of
plankton to generate biological indicators for climate shifts.
The plankton form the base of the foodweb that supports fish, marine mammals and seabirds. Plankton also play a
crucial role in climate control through the drawdown of CO2 from the atmosphere and the export of carbon in the deep ocean. This process reduces atmospheric CO2 and so helps to ameliorate the greenhouse effect.
The science that SAHFOS carries out provides indicators of ocean health, marine biodiversity, climate impact, marine pollution and ocean acidification. The CPR survey which has historically focussed in the North Atlantic, North Pacific
and Southern Ocean is beginning to “go global” with new surveys in ocean basins such as the Arctic Ocean and
Norwegian Sea that are sensitive to climate change. These new areas will provide further invaluable data to inform,
scientists, Government and society of the health and biodiversity of our oceans.
Page 5
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2009
ACHIEVEMENT AND PERFORMANCE
Investment performance
The investment funds held on deposit achieved interest rates of between 0.5% and 1.49%. The Trustees
requested alternative investment options be considered to achieve more competitive rates.
Internal and external factors
The Foundation is dependent on securing funding from external sources through contracts and grants to
enable it to continue its work. Difference sources of funding continue to be investigated in order to diversify the funding stream.
FINANCIAL REVIEW
Charitable activities
Grants and contract income have increased during the year and together with other income from charitable activities, are reported at £1,778,089 (2008 £1,412,613).
Resources expenditure has also increased during the year with the result that there are overall net reported incoming resources of £362,033 (2008 £284,124).
Reserves policy
It is the policy of the Foundation to maintain a Reserve Fund equivalent to 25% of turnover, so the Charity is in a position to absorb setbacks and take advantage of change and opportunities. The purpose of the Reserve
is:
- To meet substantial redundancy costs
- To provide for at least one month’s staff expenditure and charity general running expenses
- To ensure the long-term protection of the CPR data in the event of the winding up of the Charity - To capitalise on opportunities and future needs
- To cover a major loss of equipment
- To meet the costs of future expansion or relocation
The Reserve Fund is kept in a separate account managed jointly by management and Council members.
Approval for expenditure from the Reserve Fund is required at a Full Council Meeting although this
responsibility is delegated to the President and Director when there is a short time frame for decision making.
The Reserve Fund is to be approved annually at the Spring Council Meeting prior to the publication of the Annual Report.
At the year end the Reserve Fund balance stood at £387,414 (2008 £385,019)
Further information about the reserves of the Charity is included as part of the narrative of the annual
financial statements.
Page 6
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2009
FINANCIAL REVIEW
Principal funding sources The principal sources of funding are derived from grants and contract income from government bodies and
other organisations. Details of these bodies are disclosed in the notes to the financial statements.
Investment policy and objectives Under the Memorandum and Articles of Association, the Charity has the power to invest in any way the
Trustees wish.
The Trustees, having regard to the liquidity requirements of the Charity's operations and to the Reserves
Policy have operated a policy of keeping available funds in interest bearing deposit accounts and seek to
achieve competitive rates of interest.
FUTURE DEVELOPMENTS
The programme of work for 2010 will be set out in the Foundation's 2010 Science and Business plans
Change Objectives:
- To continue developing SAHFOS in accord to the Science Strategy including expanding the survey in climatically
sensitive areas. In the coming year this will include setting up a sister survey based in Cape Town to survey the
Benguela Current system. - To continue support of the PMSP with the aim of fostering new marine scientific opportunities in Plymouth.
- To secure adequate space for the future development of SAHFOS.
- To continue the introduction of a performance management system in order to provide visibility of resources consumed against contractual and budgeted constraints.
- To be fully engaged in the global debates on climate change and be ready to act in support of emerging
scientific demand for additional data and scientific research.
Enabling Support Objectives:
- To ensure all staff are trained in a way that directly supports the business and scientific objectives.
- To manage the supersession of key staff
- To identify and develop future leaders.
Page 8
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2009
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the
trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial
statements are required by law to give a true and fair view of the state of affairs of the charitable company
and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financial position of the charitable company and to enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.
In accordance with company law, as the company’s directors, we certify that:
• so far as we are aware, there is no relevant audit information (as defined by Section 418 of the
Companies Act 2006) of which the company’s auditors are unaware; and
• as the directors of the company we have taken all the steps that we ought to have taken in order to
make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
AUDITORS
The auditors, Keane & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.
ON BEHALF OF THE COMMITTEE:
Professor P Holligan -Trustee
Date : 28th April 2010
Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
We have audited the financial statements of Sir Alister Hardy Foundation For Ocean Science for the year
ended 31st December 2009 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. These financial statements have been prepared under the accounting policies set out therein.
This report is made solely to the charitable company's trustees, as a body, in accordance with Section 495 and 496 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's 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 and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of trustees and auditors The trustees' responsibilities for preparing the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set
out in the Statement of Trustees' Responsibilities.
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory
requirements and International Standards on Auditing (UK and Ireland).
We report to you our opinion as to whether the financial statements give a true and fair view and are properly
prepared in accordance with the Companies Act 2006. We also report to you whether in our opinion the
information given in the Report of the Trustees is consistent with the financial statements.
In addition, we report to you if, in our opinion, the charitable company has not kept proper accounting
records, if we have not received all the information and explanations we require for our audit, or if
information specified by law regarding trustees' remuneration and other transactions is not disclosed.
We read the Report of the Trustees and consider the implications for our report if we become aware of any
apparent misstatements within it.
Basis of audit opinion
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the
amounts and disclosures in the financial statements. It also includes an assessment of the significant
estimates and judgements made by the trustees in the preparation of the financial statements, and of whether
the accounting policies are appropriate to the charitable company's circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the
financial statements are free from material misstatement, whether caused by fraud or other irregularity or
error.
In forming our opinion we also evaluated the overall adequacy of the presentation of information in the
financial statements.
We have undertaken the audit with the requirements of APB Ethical Standards including APB Ethical
Standard - Provisions Available to Small Entities, in the circumstances set out in note 15 to the financial
statements.
Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
Opinion
In our opinion: - the financial statements give a true and fair view, in accordance with United Kingdom Generally
Accepted Accounting Practice, of the state of the charitable company's affairs as at
31st December 2009 and of its surplus for the year then ended;
- the financial statements have been properly prepared in accordance with the Companies Act 2006;
and
- the information given in the Report of the Trustees is consistent with the financial statements.
R H Keane (Senior Statutory Auditor)
For and on behalf of Keane & Co Chartered Accountants
Statutory Auditors 1 - 2 Moorside Court
Yelverton Business Park
Yelverton Devon
PL20 7PE
Date: 30
th April 2010
Page 10
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2009
2009 2008
Unrestricted Unrestricted
funds funds Notes £ £
INCOMING RESOURCES
Incoming resources from generated funds
Investment income 2 11,998 36,588
Incoming resources from charitable
activities
3
Grants & contracts 1,722,282 1,378,964 Workshops, sale of silk and other sources 55,807 33,649
Total incoming resources 1,790,087 1,449,201
RESOURCES EXPENDED
Charitable activities Deployment of Continuous Plankton
Recorders and analysis of data 4 1,413,753 1,153,789
Governance costs 5 14,301 11,288
Total resources expended 1,428,054 1,165,077
NET INCOME FOR THE YEAR 362,033 284,124
Net movement in funds 362,033 284,124
RECONCILIATION OF FUNDS
Total funds brought forward 1,354,394 1,070,270
TOTAL FUNDS CARRIED FORWARD 1,716,427 1,354,394
CONTINUING OPERATIONS
All incoming resources and resources expended arise from continuing activities.
TOTAL RECOGNISED GAINS AND LOSSES
There are no recognised gains or losses other than the net income for the current year or the previous year.
Page 11 continued...
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
BALANCE SHEET
AT 31ST DECEMBER 2009
2009 2008
Unrestricted Unrestricted
funds funds Notes £ £
FIXED ASSETS
Tangible assets 9 203,793 127,940
Investments Investments 10 10,000 10,000
213,793 137,940
CURRENT ASSETS
Stocks 22,556 9,026 Debtors: amounts falling due within one
year
11
898,773
622,313
Cash at bank and in hand 821,304 766,880
1,742,633 1,398,219
CREDITORS
Amounts falling due within one year 12 (239,999) (181,765)
NET CURRENT ASSETS 1,502,634 1,216,454
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,716,427
1,354,394
NET ASSETS 1,716,427 1,354,394
FUNDS 14
Unrestricted funds 1,716,427 1,354,394
TOTAL FUNDS 1,716,427 1,354,394
Page 12
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
BALANCE SHEET - CONTINUED
AT 31ST DECEMBER 2009
These financial statements have been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees on 28
th April 2010 and were signed on its
behalf by:
Professor P Holligan -Trustee
A G A Wates MBE -Trustee
Page 13
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2009
1. ACCOUNTING POLICIES
Accounting convention The financial statements have been prepared under the historical cost convention, with the exception
of investments which are included at market value and the requirements of the Statement of
Recommended Practice, Accounting and Reporting by Charities.
Financial Reporting Standard Number 1
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable
company qualifies as a small charitable company.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The
following specifically applies to the main category of income :
Grants : where related to performance and specific deliverables these are accounted for as the charity earns the right to consideration by its performance. Where income is received in advance of its
recognition it is deferred and included in creditors. Where entitlement occurs before income being
received the income is accrued. Capital grants are accounted for as income as soon as they are receivable.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular
headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable activities
Charitable expenditure comprises those costs incurred by the Charity in the performance of its
activities. It includes both costs that can be allocated to such activities and those of an indirect nature necessary to support them.
Governance costs
Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the Charity and include Audit fees and costs linked to the strategic management of the
Charity.
Allocation and apportionment of costs
Resources expenditure is allocated to the activity to which it relates.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its useful
economic life.
Short leasehold -in accordance with the property
Plant and machinery -20% on reducing balance
Fixtures and fittings -20% on reducing balance Computer equipment -33.3% on cost
Fixed asset investments are included at Trustees valuation.
Page 14
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER 2009
1. ACCOUNTING POLICIES - continued
Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.
Taxation The charity is exempt from corporation tax on its charitable activities.
Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Foreign currencies Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. INVESTMENT INCOME
2009 2008
£ £ Deposit account interest 9,593 18,839
Reserve Fund account interest 2,405 17,749
11,998 36,588
3. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
2009 2008
Activity £ £ Grants & contracts Deployment of CPRs and
Analysis of data
1,722,282
1,378,964
Other incoming resources Workshops, sale of silk, sale of
CPR and other sources
55,807
33,649
1,778,089 1,412,613
Deferred income totalling £78,024 (2008 : £105,850) is included in Grants and Contract income.
Page 15
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER 2009
3. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES - continued
Incoming resources include grants and contract income from the following organisations: Department for Environment Food and Rural Affairs (UK)
Natural Environment Research Council (UK)
North Pacific Research Board
Exxon Valdez OilSpill Trust (NOAA)
National Science Foundation (USA)
IFREMER (France)
CEFAS (UK)
Rijksinstituut fur Kust en Zee (Netherlands) Marine Institute (Ireland)
British Antarctic Survey
Scottish Natural Heritage
Fisheries Research Services - Aberdeen
RECNOR (EC FP7)
International Council (ICES)
Bedford Institute of Oceanography
Marbef
Euroceans
PICES
Leibniz Institute (EU-Ecodrive) EU – Knowseas
Norway
4. BREAKDOWN OF COSTS OF CHARITABLE ACTIVITIES
Direct costs Support costs Total 2008
£ £ £ £
Staff costs 674,440 129,995 804,435 717,330
Pension contributions 43,754 11,877 55,631 42,819
Subcontractors 131,471 131,471 64,403
Towing, freight and other CPR costs 140,561 140,561 118,402
Premises costs 15,293 15,293 15,747
Travelling, subsistence and conference costs 67,062 67,062 63,241
Laboratory 33,228 33,228 32,260
Training and education 22,257 22,257 28,888 Repairs and renewals 7,321 7,321 11,846
Insurance 8,624 8,624 8,430
Professional fees 536 536 1,699
Depreciation 47,391 14,281 61,672 40,128
Computer costs and line rental 34,493 34,493 15,699
General office costs 14,520 14,520 10,380
Foreign exchange 3,471 3,471 (25,840)
Bank charges 1,388 1,388 1,130
Profit on Disposal (499) (499) -
PMSP costs 12,211 12,211 10,000
Cape Town Exhibition - - (2,773)
POGO 4,000 4,000 -
Phytoplankton project (3,922) (3,922) -
_______ _______ ________ _______
1,191,938 221,815 1,413,753 1,153,789
Page 16
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER 2009
5. GOVERNANCE COSTS
2009 2008
£ £
Trustees' travel expenses 2,315 1,007
Annual report 4,331 3,343
Auditors' remuneration 3,408 3,076
Auditors' remuneration for accountancy 2,761 2,300
Recruitment 1,486 1,562
14,301 11,288
6. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging/(crediting):
2009 2008
£ £
Auditors' remuneration 3,290 3,076
Depreciation - owned assets 61,672 40,128 Other operating leases - rent 13,336 13,770
Foreign exchange gains/losses 3,471 (25,840)
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ending 31st December 2009 nor for
the year ended 31st December 2008.
Trustees' Expenses
2009 2008
£ £
Travel expenses were reimbursed to 7 Trustees 2,315 1,007
8. STAFF COSTS
2009 2008
£ £
Wages and salaries 735,260 656,396
Social security costs 69,175 60,934
Other pension costs 55,631 42,819
860,066 760,149
Employee salaries recharged from independent body:
Professor P Burkill, Dr. M Edwards and Dr. PC Reid are employed by the University of Plymouth who
recharge 80%, 90% and 33.75% of their respective salaries to Sir Alister Hardy Foundation for Ocean Science totalling £155,551 (2008 : £134,794), representing their time spent working for the charity.
Page 17
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER 2009
The average monthly number of employees during the year was as follows:
Administrative/IT/Operations staff 10
Analysis staff 10
Research staff 7
27
9. TANGIBLE FIXED ASSETS
Short
leasehold
Plant and
machinery
Fixtures and
fittings
Computer
equipment
Totals
£ £ £ £ £
COST
At 1st January 2009 1,072 402,330 46,386 63,141 512,929
Additions 125,939 1,196 14,573 141,708
Disposals (21,728) (21,728)
At 31st December 2009 1,072 506,541 47,582 77,714 632,909
DEPRECIATION
At 1st January 2009 749 309,583 25,627 49,030 384,989
Charge for year 107 42,893 4,391 14,281 61,672 Eliminated on disposals (17,545) (17,545)
At 31st December 2009 856 334,931 30,018 63,311 429,116
NET BOOK VALUE
At 31st December 2009 216 171,610 17,564 14,403 203,793
At 31st December 2008 323 92,747 20,760 14,110 127,940
Page 18
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER 2009
10. FIXED ASSET INVESTMENTS
Investments (neither listed nor unlisted) were as follows:
2009 2008
£ £
Paintings and prints 10,000 10,000
Investments represent several paintings and prints by Sir Alister Hardy donated by various
beneficiaries, which have been valued by the trustees at a total £10,000.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2009 2008 £ £
Amounts falling due after more than one year:
Contract income receivable 878,045 616,260 Other debtors and prepayments 20,728 6,053
898,773 622,313
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2009 2008 £ £
Trade creditors 75,319 66,159
Social security - - Other creditors and accruals 86,656 9,756
Deferred income 78,024 105,850
239,999 181,765
Page 19
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER 2009
13. MOVEMENT IN FUNDS
At 1/1/09
Net
movement in
funds
Transfers
between
funds
At 31/12/09
£ £ £ £
Unrestricted funds
General fund 969,365 359,628 1,328,993
Reserve fund 385,029 2,405 387,434
1,354,394 362,033 1,716,427
TOTAL FUNDS 1,354,394 362,033 1,716,427
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
Expended
Movement in
funds
£ £ £
Unrestricted funds
General fund 1,787,682 (1,428,054) 359,628
Reserve fund 2,405 - 2,405
1,790,087 (1,428,054) 362,033
TOTAL FUNDS 1,790,087 (1,428,054) 362,033
Purpose of the Reserve Fund
The Trustees have designated funds to enable the Charity to be in a position to mitigate the effects of
any setbacks and to take advantage of change and opportunities.
Page 20
SIR ALISTER HARDY FOUNDATION FOR
OCEAN SCIENCE
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER 2009
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
General Reserve
Fund Fund Total
£ £ £
Fixed assets 213,793 213,793
Cash at bank and in hand 433,890 387,414 821,304 Other net current assets 681,330 681,330
Net assets at 31st December 2009 1,329,013 387,414 1,716,427
15. APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other entities of our size and nature we use our auditors to assist with the
preparation of the financial statements.