CELTIC DEEP CONSERVATION C.I.C.

Company limited by guarantee

Company Registration Number:
11832657 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

CELTIC DEEP CONSERVATION C.I.C.

Contents of the Financial Statements

for the Period Ended 28 February 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CELTIC DEEP CONSERVATION C.I.C.

Directors' report period ended 28 February 2023

The directors present their report with the financial statements of the company for the period ended 28 February 2023

Principal activities of the company

Celtic Deep Expeditions Ltd's principal activity during the year continued to be that of a Tour Operator however on 15 Mar 22 it's name and purpose were changed to Celtic Deep ConservationC.I.C. as a Community Interest Business.



Directors

The directors shown below have held office during the whole of the period from
1 March 2022 to 28 February 2023

Richard Rees
Emma Williams


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
3 November 2023

And signed on behalf of the board by:
Name: Richard Rees
Status: Director

CELTIC DEEP CONSERVATION C.I.C.

Profit And Loss Account

for the Period Ended 28 February 2023

2023 2022


£

£
Turnover: 3,320 57,488
Cost of sales: ( 200 ) ( 39,632 )
Gross profit(or loss): 3,120 17,856
Administrative expenses: ( 1,942 ) ( 28,280 )
Operating profit(or loss): 1,178 (10,424)
Profit(or loss) before tax: 1,178 (10,424)
Tax: ( 650 )
Profit(or loss) for the financial year: 528 (10,424)

CELTIC DEEP CONSERVATION C.I.C.

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,305 2,881
Total fixed assets: 2,305 2,881
Current assets
Debtors: 4 2,697 437
Cash at bank and in hand: 3,860 3,445
Total current assets: 6,557 3,882
Creditors: amounts falling due within one year: 5 ( 858 ) ( 1,102 )
Net current assets (liabilities): 5,699 2,780
Total assets less current liabilities: 8,004 5,661
Creditors: amounts falling due after more than one year: 6 ( 1,815 )
Total net assets (liabilities): 6,189 5,661
Members' funds
Profit and loss account: 6,189 5,661
Total members' funds: 6,189 5,661

The notes form part of these financial statements

CELTIC DEEP CONSERVATION C.I.C.

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 3 November 2023
and signed on behalf of the board by:

Name: Richard Rees
Status: Director

The notes form part of these financial statements

CELTIC DEEP CONSERVATION C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discountsand value added taxes. Turnover includes revenue earned from the sale of goods and from therendering of services. Turnover from the sale of goods is recognised when the significant risksand rewards of ownership of the goods have transferred to the buyer. Turnover from the renderingof services is recognised by reference to the stage of completion of the contract. The stage ofcompletion of a contract is measured by comparing the costs incurred for work performed to dateto the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:Freehold buildings over 50 yearsLeasehold land and buildings over the lease termPlant and machinery over 5 yearsFixtures, fittings, tools and equipment over 5 years

    Other accounting policies

    DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initiallyrecognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for badand doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costsand subsequently measured at amortised cost determined using the effective interest method.TaxationA current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back torecover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion intax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to thereversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities arenot discounted.

CELTIC DEEP CONSERVATION C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 0

CELTIC DEEP CONSERVATION C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 3,793 3,793
Additions
Disposals
Revaluations
Transfers
At 28 February 2023 3,793 3,793
Depreciation
At 1 March 2022 912 912
Charge for year 576 576
On disposals
Other adjustments
At 28 February 2023 1,488 1,488
Net book value
At 28 February 2023 2,305 2,305
At 28 February 2022 2,881 2,881

CELTIC DEEP CONSERVATION C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Debtors

2023 2022
£ £
Other debtors 2,697 437
Total 2,697 437

CELTIC DEEP CONSERVATION C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 400 820
Taxation and social security 458 282
Total 858 1,102

CELTIC DEEP CONSERVATION C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Creditors: amounts falling due after more than one year note

2023
£
Other creditors 1,815
Total 1,815

CELTIC DEEP CONSERVATION C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

7. Loans to directors

Name of director receiving advance or credit: Richard Rees
Description of the transaction:
The Director Richard Geraint Rees has taken a loan of £2,000 from the Company on 2 Mar 2022 which he is proposing to pay back in year ending 28 Feb 24.
£
Balance at 28 February 2022
Advances or credits made: 2,000
Advances or credits repaid:
Balance at 28 February 2023 2,000

COMMUNITY INTEREST ANNUAL REPORT

CELTIC DEEP CONSERVATION C.I.C.

Company Number: 11832657 (England and Wales)

Year Ending: 28 February 2023

Company activities and impact

During the financial year February 28th 2022 – February 28th 2023, we were developing our work as a CIC; building contacts, seeking funding, and starting to deliver activities. Our organisation has three areas of work: marine conservation, marine research and outreach.The development phase involved attending meetings and making connections with important organisations within the community such as Pembrokeshire Association of Voluntary Services (PAVS), The Outdoor Partnership, Pembrokeshire Coastal Forum (PCF), and Project Siarc.We also participated in workshops, including those on Day Opportunities and Social Enterprises. We attended meetings with other providers and advisors and started to pursue funding through PAVS Funding fair and were granted funding by Hiraeth Energy to deliver outreach activities in the local community.Over this time-period our outreach activities included:Girl’s beach and snorkelling day funded by The Outdoor partnership.Talk delivered in the Darwin Tent at the Big retreat Festival.Talk on marine biology delivered to year 1-6 at a London primary school.Interactive presentation delivered to year 3 at a local primary school.Interactive workshop delivered to a Value Independence, a local day services centre for adults with additional needs.Attended ‘Time to Talk’ event at Milford Haven secondary school where we provided information on the marine environment, encouraging students to broaden their horizons.Talk on Pembrokeshire marine life to Aquacity Freediving club.Delivered an interactive presentation to Sea Trusts Marine Biology club.Provided volunteering experience for local and UK-based early career adults.Began the planning process for co-delivering a Water Inclusivity Day with The OutdoorPartnership, Windswept and Wild Swim WalesOver this time-period our citizen science activities included:Baited Remote Underwater Video System (BRUVS) surveys.Finding a local beach to adopt for quarterly beach cleans in which every piece of litter is recorded and reported back to the Marine Conservation Society who enter the data into an international database of marine litter.Conducted eggcase hunts and reported the findings to the Shark Trust as part of anongoing international citizen science program.Contributed shark, skate and ray sightings data to the Great Shark Snapshot project led by the Shark Trust.Over this time-period our research activities included:Detailed recordings of marine megafauna sightingsRecording and sharing Manx Sheerwater sightings with Skomer island wardensRecording important information on the blue sharks encountered during Celtic Deep Ltd. trips.Participated in novel and innovative shark tagging that prioritises animal welfare.Summer deployment of our C-POD (acoustic listening device) in Saundersfoot Bay to record information on how porpoise use the area.Presented research at the Sharks International Conference that takes place every 4 years.Over this time-period staff training has included:First Aid trainingBSAC Snorkelling InstructorSSI Freediving InstructorSafeguarding trainingYouth Mental Health First Aid trainingImpacts and community benefitAlthough this was our first year, we are pleased with what we accomplished and the ever- increasing number of activities and events we have since been able to deliver beyond the timeframe of this report. We formed valuable relationships within the community and withother local organisations which have led to numerous collaborative projects since. During this year we delivered talks to hundreds of people across a large age range, difference backgrounds and different abilities.Our activities have benefitted the community by engaging them in the remarkable marine life found around our coasts and, in some cases, provided experiences that allowed participants to discover the marine environment first-hand. In addition to learning about local marine life, ithas also helped participants develop water confidence and in-water safety awareness. Gaining marine biology experience locally can be a challenge, so providing opportunities to get involved to our early career volunteers, meant we were not only able to provide them with first-hand experience but also provide letters of recommendation and act as references for pursuing further study and jobs.

Consultation with stakeholders

We have many stakeholders, with our activities mainly working to serve the local community and a focus during this year on school age children and engaging with other community groups that already have a reach in the community.Consultation with stakeholders was limited during this time period, however, we did participate in a Day Opportunities workshop hosted by PAVS and discussed how our activities could be delivered to members of the community who are in need of these services. We alsoparticipated in Milford Haven secondary schools ‘Time to Talk’ session in which we surveyed the students (mainly year 11’s) as well as teachers and other present organisations (including Milford Youth Matters, Sandy Bear bereavement charity, and the mental health charity Mind) about what activities they would most like us to provide. Using PAVS this survey was further circulated and feedback from groups such as brownies, guides, ASD family support group and Fishguard Young Persons Trust was also received.The feedback from these events was extremely useful and has been used when applying for funding and internally deciding on how to best deliver activities. Further methods for engaging our stakeholders and providing feedback to them is something that we are working towards.

Directors' remuneration

Full details are available in the accounts, director’s remuneration specifically on page 10.Page 7 point 8 of the accounts details a directors’ loan. No other remuneration has been received by the directors.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 November 2023

And signed on behalf of the board by:
Name: Richard Rees
Status: Director