SEA FOUNDATION CIC

Company limited by guarantee

Company Registration Number:
SC694232 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

SEA FOUNDATION CIC

Contents of the Financial Statements

for the Period Ended 31 March 2023

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

SEA FOUNDATION CIC

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The company’s principal activity was considerably reduced in this period, due to lack of funding. All paid employment and contractor activity was placed on hold, but ongoing essential research projects were continued pro-bono by the core team.

Political and charitable donations

Due to reduced company activity, no charitable donations were made during this financial year

Additional information

The director presents the report and the unaudited financial statements of the company for the year ended 31 March 2023. The director who served the company during the year was as follows: James Birchall, appointed 31.03.2021. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.



Directors

The director shown below has held office during the whole of the period from
1 April 2022 to 31 March 2023

James Birchall


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
19 December 2023

And signed on behalf of the board by:
Name: James Birchall
Status: Director

SEA FOUNDATION CIC

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 0 42,979
Cost of sales: 0 ( 23,213 )
Gross profit(or loss): 0 19,766
Administrative expenses: ( 1,128 ) ( 71,146 )
Operating profit(or loss): (1,128) (51,380)
Profit(or loss) before tax: (1,128) (51,380)
Profit(or loss) for the financial year: (1,128) (51,380)

SEA FOUNDATION CIC

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Creditors: amounts falling due within one year: 3 ( 52,514 ) ( 51,380 )
Net current assets (liabilities): (52,514) (51,380)
Total assets less current liabilities: (52,514) ( 51,380)
Total net assets (liabilities): (52,514) (51,380)
Members' funds
Profit and loss account: (52,514) ( 51,380)
Total members' funds: ( 52,514) (51,380)

The notes form part of these financial statements

SEA FOUNDATION CIC

Balance sheet statements

For the year ending 31 March 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 19 December 2023
and signed on behalf of the board by:

Name: James Birchall
Status: Director

The notes form part of these financial statements

SEA FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 31 March 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

SEA FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 4

SEA FOUNDATION CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 52,514 51,380
Total 52,514 51,380

COMMUNITY INTEREST ANNUAL REPORT

SEA FOUNDATION CIC

Company Number: SC694232 (Scotland)

Year Ending: 31 March 2023

Company activities and impact

Between 31 March 2022 and 31 March 2023, SEA Foundation CIC carried out significantly reduced activity due to lack of funding. All work contracts with existing staff and external contractors were suspended pending further funding. Ongoing research projects were continued by volunteer staff working pro-bono, and progress was made on assessing the potential environmental impacts of our proposed technology. Funding applications were made to Innovate UK and a number of private trusts, the results of which are pending at the time of this submission.

Consultation with stakeholders

Ongoing consultation with Sea Shepherd UK, Oceanic Preservation Society, Coral Reef Alliance, 5 Gyres, FishAct, Gili Eco Trust, GreenWave, PADI, the Marine Conservation Institute, Stellenbosch University, and numerous individual environmental researchers has allowed us to progress in our research.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
19 December 2023

And signed on behalf of the board by:
Name: James Birchall
Status: Director