Companies House 11363501 2025-05-31 2025-05-31 2024-06-01 false iso4217:GBP xbrli:pure 11363501 2023-06-01 2024-05-31 11363501 2025-05-31 11363501 2024-06-01 2025-05-31 11363501 2024-05-31 11363501 curr:PoundSterling 2024-06-01 2025-05-31 11363501 uk-bus:CompanyLimitedByGuarantee 2024-06-01 2025-05-31 11363501 uk-bus:FRS102 2024-06-01 2025-05-31 11363501 uk-bus:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 11363501 uk-bus:FullAccounts 2024-06-01 2025-05-31 11363501 uk-bus:RegisteredOffice 2024-06-01 2025-05-31 11363501 uk-bus:Director1 2024-06-01 2025-05-31 11363501 uk-bus:Director2 2024-06-01 2025-05-31 11363501 uk-bus:Director3 2024-06-01 2025-05-31 11363501 uk-bus:Director4 2024-06-01 2025-05-31 11363501 uk-bus:Director5 2024-06-01 2025-05-31 11363501 uk-bus:Director6 2024-06-01 2025-05-31 11363501 uk-bus:Director7 2024-06-01 2025-05-31 11363501 uk-bus:Director8 2024-06-01 2025-05-31 11363501 uk-bus:Director9 2024-06-01 2025-05-31 11363501 uk-bus:Director10 2024-06-01 2025-05-31 11363501 uk-bus:Director11 2024-06-01 2025-05-31 11363501 uk-bus:Director12 2024-06-01 2025-05-31 11363501 uk-bus:Director13 2024-06-01 2025-05-31 11363501 uk-bus:Director14 2024-06-01 2025-05-31 11363501 uk-bus:Director15 2024-06-01 2025-05-31 11363501 uk-bus:Director16 2024-06-01 2025-05-31 11363501 uk-bus:Director17 2024-06-01 2025-05-31 11363501 uk-bus:Director18 2024-06-01 2025-05-31 11363501 uk-bus:Director19 2024-06-01 2025-05-31 11363501 uk-bus:Director20 2024-06-01 2025-05-31 11363501 uk-bus:Director21 2024-06-01 2025-05-31 11363501 uk-bus:CompanySecretary1 2024-06-01 2025-05-31 11363501 core:AfterOneYear 2025-05-31 11363501 core:AfterOneYear 2024-05-31 11363501 core:WithinOneYear 2025-05-31 11363501 core:WithinOneYear 2024-05-31 11363501 core:WithinOneYear 2024-06-01 2025-05-31 11363501 core:AfterOneYear 2025-05-31 11363501 core:AfterOneYear 2024-05-31 11363501 core:AfterOneYear 2024-06-01 2025-05-31 11363501 core:ShareCapital 2025-05-31 11363501 core:ShareCapital 2024-05-31 11363501 core:SharePremium 2025-05-31 11363501 core:SharePremium 2024-05-31 11363501 core:OtherReservesSubtotal 2025-05-31 11363501 core:OtherReservesSubtotal 2024-05-31 11363501 core:RevaluationReserve 2025-05-31 11363501 core:RevaluationReserve 2024-05-31 11363501 core:RetainedEarningsAccumulatedLosses 2025-05-31 11363501 core:RetainedEarningsAccumulatedLosses 2024-05-31 11363501 1 2024-06-01 2025-05-31 11363501 2 2024-06-01 2025-05-31 11363501 3 2024-06-01 2025-05-31 11363501 core:LandBuildings 2024-06-01 2025-05-31 11363501 core:LandBuildings 2025-05-31 11363501 core:LandBuildings 2023-06-01 2024-05-31 11363501 core:LandBuildings 2024-05-31 11363501 core:PlantMachinery 2024-06-01 2025-05-31 11363501 core:PlantMachinery 2025-05-31 11363501 core:PlantMachinery 2023-06-01 2024-05-31 11363501 core:PlantMachinery 2024-05-31 11363501 core:FurnitureFittingsToolsEquipment 2024-06-01 2025-05-31 11363501 core:FurnitureFittingsToolsEquipment 2025-05-31 11363501 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 11363501 core:FurnitureFittingsToolsEquipment 2024-05-31 11363501 core:OfficeEquipment 2024-06-01 2025-05-31 11363501 core:OfficeEquipment 2025-05-31 11363501 core:OfficeEquipment 2023-06-01 2024-05-31 11363501 core:OfficeEquipment 2024-05-31 11363501 core:Vehicles 2024-06-01 2025-05-31 11363501 core:Vehicles 2025-05-31 11363501 core:Vehicles 2023-06-01 2024-05-31 11363501 core:Vehicles 2024-05-31 11363501 core:NetGoodwill 2024-06-01 2025-05-31 11363501 core:NetGoodwill 2025-05-31 11363501 core:NetGoodwill 2023-06-01 2024-05-31 11363501 core:NetGoodwill 2024-05-31 11363501 core:IntangibleAssetsOtherThanGoodwill 2024-06-01 2025-05-31 11363501 core:IntangibleAssetsOtherThanGoodwill 2025-05-31 11363501 core:IntangibleAssetsOtherThanGoodwill 2023-06-01 2024-05-31 11363501 core:IntangibleAssetsOtherThanGoodwill 2024-05-31

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Company limited by guarantee

## Company Registration Number:
11363501 (England and Wales)

## Unaudited statutory accounts for the year ended 31 May 2025

## Period of accounts

## Start date: 1 June 2024

## End date: 31 May 2025

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Contents of the Financial Statements

for the Period Ended 31 May 2025

Profit and loss |
Balance sheet |
Additional notes |
Balance sheet notes |
Community Interest Report |

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Profit And Loss Account

for the Period Ended 31 May 2025

| 2025 | 2024
--- | --- | ---
| £ | £
Turnover: | 147,821 | 159,660
Cost of sales: | ( 2,728 ) | ( 8,405 )
Gross profit(or loss): | 145,093 | 151,255
Administrative expenses: | ( 145,104 ) | ( 154,719 )
Operating profit(or loss): | (11) | (3,464)
Profit(or loss) before tax: | (11) | (3,464)
Profit(or loss) for the financial year: | (11) | (3,464)

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Balance sheet

As at 31 May 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Tangible assets: | 3 | 60,125 | 69,621
Total fixed assets: |  | 60,125 | 69,621
Current assets
Debtors: | 4 | 7,131 | 7,972
Cash at bank and in hand: |  | 37,735 | 25,618
Total current assets: |  | 44,866 | 33,590
Creditors: amounts falling due within one year: | 5 | ( 6,928 ) | ( 1,972 )
Net current assets (liabilities): |  | 37,938 | 31,618
Total assets less current liabilities: |  | 98,063 | 101,239
Creditors: amounts falling due after more than one year: | 6 | ( 65,958 ) | ( 68,963 )
Total net assets (liabilities): |  | 32,105 | 32,276
Members' funds
Profit and loss account: |  | 32,105 | 32,276
Total members' funds: |  | 32,105 | 32,276

The notes form part of these financial statements

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Balance sheet statements

For the year ending 31 May 2025 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 16 February 2026
and signed on behalf of the board by:

Name: Kara Majerus
Status: Director

The notes form part of these financial statements

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Notes to the Financial Statements

for the Period Ended 31 May 2025

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Notes to the Financial Statements

for the Period Ended 31 May 2025

- ## 2. Employees

  | 2025 | 2024
  --- | --- | ---
  Average number of employees during the period | 3 | 3

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 3. Tangible assets

| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total
--- | --- | --- | --- | --- | --- | ---
Cost | £ | £ | £ | £ | £ | £
At 1 June 2024 |  | 36,743 | 42,911 | 3,618 | 15,898 | 99,170
Additions |  | 3,644 | 1,130 |  |  | 4,774
Disposals |  |  |  |  |  |
Revaluations |  |  |  |  |  |
Transfers |  | 10,278 | 10,265 |  |  | 13
At 31 May 2025 |  | 50,665 | 33,776 | 3,618 | 15,898 | 103,957
Depreciation |  |  |  |  |  |
At 1 June 2024 |  | 8,787 | 16,553 | 1,780 | 2,429 | 29,549
Charge for year |  | 8,810 | 3,917 | 732 | 1,590 | 15,049
On disposals |  |  |  |  |  |
Other adjustments |  |  |  | 410 | 356 | 766
At 31 May 2025 |  | 17,597 | 20,470 | 2,102 | 3,663 | 43,832
Net book value |  |  |  |  |  |
At 31 May 2025 |  | 33,068 | 13,306 | 1,516 | 12,235 | 60,125
At 31 May 2024 |  | 27,956 | 26,358 | 1,838 | 13,469 | 69,621

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 4. Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Trade debtors | 7,131 | 7,972
Total | 7,131 | 7,972

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 5. Creditors: amounts falling due within one year note

| 2025 | 2024
--- | --- | ---
| £ | £
Trade creditors | 3,039 | 1,517
Taxation and social security | 3,889 | 455
Total | 6,928 | 1,972

# SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

## Notes to the Financial Statements

for the Period Ended 31 May 2025

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

| 2025 | 2024
--- | --- | ---
| £ | £
Bank loans and overdrafts | 65,958 | 68,963
Total | 65,958 | 68,963

# COMMUNITY INTEREST ANNUAL REPORT

### SUSTAINABLE OCEANIC RESEARCH CONSERVATION AND EDUCATION CIC

### Company Number: 11363501 (England and Wales)

### Year Ending: 31 May 2025

Company activities and impact

Social Audit Report: 1st June 2024 – 31st May 2025 Introduction During the 2024–2025 reporting period, the Sustainable Oceanic Research, Conservation and Education CIC (SORCE CIC) has continued to deliver its core conservation, research, and education activities while operating within an increasingly complex environmental and financial context. Building on the foundations established in previous years, this period has focused on consolidating programmes, strengthening scientific rigour, and deepening community and institutional partnerships. While many of our activities remain consistent year on year, this reflects the long term and iterative nature of effective marine conservation, monitoring, and capacity building. Director Oversight & Operational Management Throughout this reporting period, the directors have continued to manage the organisation from the UK in conjunction with the Finance and Operations Manager based in Indonesia, providing strategic oversight, governance, fundraising direction, and programme development, alongside periodic in country visits to Lombok. Day to day operations remain led by the Indonesian management, scientific, and operational teams, ensuring local leadership, continuity, and responsiveness to on the ground needs. Whilst it has been a big adjustment, this governance structure has allowed the organisation to maintain operational stability while enabling directors to begin focus on organisational resilience, partnerships, and longer term strategic growth. Programme Continuity, Stability & External Context The 2024–2025 year has been characterised by relative stabilisation following post pandemic fluctuations in travel, tourism, and project demand. Volunteer and student participation has continued at sustainable levels, allowing consistent delivery of field programmes and community activities. However, wider environmental pressures, climate related impacts, and funding uncertainty have remained significant constraints. In response, SORCE CIC has prioritised adaptive programme delivery, diversified engagement pathways, and careful resource management to ensure continuity of impact. Key Project Areas Environmental Monitoring & Restoration Marine Protected Area (MPA) Monitoring & Marine Health Assessments: During the 2024–2025 reporting period, SORCE CIC concluded a fixed-duration, large-scale ecological monitoring project within the GITA NADA MPA and adjacent areas. Field-based data collection, including biodiversity surveys, fisheries impact assessments, and stakeholder engagement activities, was completed by September 2024. The project subsequently entered a data analysis and reporting phase, which was completed in January 2025. The final technical report was submitted to the relevant government authorities and included evidence-based recommendations for the potential expansion and re-zonation of the existing MPA. At the close of the reporting period, no formal decision had yet been made by the government regarding these recommendations. Following submission of the report, the project team began the process of disaggregating the dataset into a series of individual scientific manuscripts for peer-reviewed publication, which remain in preparation at the end of the reporting year. Coral Restoration & Artificial Reef Development: Coral restoration activities have continued across established restoration and nursery sites, with a focus on maintaining and expanding existing structures, improving survivorship, and supporting genetic diversity. Monitoring of previously deployed coral structures remains a key component of this work, alongside ongoing community engagement and training in restoration techniques. In total we planted 4,164 corals, across our 5 artificial reefs, with corals being planted on previously deployed structures and 41 new MARS blocks and 21 new frames deployed this year. Additionally, we deployed 7 replacement coral nursery structures across our 4 nursery sites. Mangrove Restoration & Blue Carbon Activities: Mangrove nursery management, planting, and monitoring have remained a core focus throughout the year. Restoration work has continued in collaboration with local communities, corporate partners, and academic institutions, alongside the development of associated research projects assessing ecosystem health, carbon sequestration potential, and restoration effectiveness. Our planting team doubled in size with new nurseries and staff located within Banko-Banko. In total 29,981 mangroves were planted across three restoration sites, with continued support from TreeApp. Mangrove restoration focused collaborations with Banko – Banko community, the National University of Singapore, and The Universitas Mataram have also continued. Marine Debris, Plastic Collection & Waste Management: Regular coastal and marine debris removal activities have continued throughout the reporting period, addressing plastic pollution, discarded fishing gear, and other marine refuse. Where possible, collected material has been diverted into recycling and alternative waste-management pathways through established local partnerships. In particular, collaboration with Geo Trash Management has enabled a proportion of collected plastic waste to be processed through pyrolysis, supporting more sustainable waste handling and reducing reliance on landfill or open disposal. In total, 1,423 kg of ocean debris, (including plastics, discarded fishing gear, and other ocean refuse. Our collaboration with Geo Trash Management has allowed us to recycle much of this collected plastic through pyrolysis, ensuring more sustainable waste management solutions having sent over 2,000kg in plastics during this time frame. Seagrass & Coastal Ecosystem Assessments: Seagrass monitoring and associated ecosystem surveys have continued, including species composition, coverage, and invertebrate assessments. Ongoing degradation linked to water quality, fishing pressure, and algal overgrowth remains a concern, reinforcing the need for integrated management approaches and further research into environmental drivers. Water Quality Analysis has been routinely undertaken across a range of shallow and deeper water sites, with 80 distinct samples analysed for a broad range of factors including but not limited to: pH, Nitrates, Nitrites, Phosphorous, Dissolved Oxygen. Megafauna & Priority Species Monitoring: Megafauna presence continues to be systematically monitored on every dive undertaken by SORCE CIC, forming a consistent component of all in-water activities. Ongoing photo-identification of individual turtles and manta rays is conducted to support population tracking, site fidelity assessment, and long-term conservation planning. Observations of other megafauna species, including large predatory fish, are also recorded on each dive in recognition of the significant pressures posed by overfishing within the region. In total 33+ species of large organism and megafauna are being logged. In addition to traditional megafauna monitoring, the programme incorporates targeted observation of selected non-megafauna priority species that are recognised as locally or regionally threatened. This includes continued monitoring of species such as giant clams and Banggai cardinalfish, providing data to support threat assessment, protection measures, and broader ecosystem health evaluation. Education & Research Activities Hosted 125 students and participants across SORCE CIC programmes, including: A Level Marine Science: 3 Eco Venture: 72 Conservation Research Assistant (CRA): 15 Research Training Programme (RTP): 5 Scientific Field Programme (SFP): 3 Local internships and placements: 27 Delivered 83 dive training courses, enabling participants to safely access and contribute to marine research and conservation activities. This included: 12 Open Water, 13 Advanced Open Water, 14 Rescue Diver, 16 ERF, 7 Divemaster, 3 PADI Aware, 3 Dive Against Debris, and 15 Reef Check Eco diver courses. Conducted 1400 scuba dives across 46 sites, supporting conservation action, monitoring, training, and research. Completed 82 BRUV surveys, 35 Diver Operated Video Surveys (DOVS), and 41 Underwater Photo Transect Surveys (UPTS), contributing to long term ecological datasets and MPA management objectives. Additionally, 85 student project surveys were facilitated and supervised in order to support student development. Delivered 37 community education and outreach programmes over 70 days, engaging schools, universities, community groups, and local stakeholders in marine conservation awareness and skills development. In addition, 2 separate conferences were attended. Stakeholder Engagement & Partnerships SORCE CIC has continued to strengthen existing partnerships while developing new collaborative relationships across academia, government, NGOs, community groups, and the private sector. Engagement with Indonesian regulatory bodies and government departments has remained a priority to ensure compliance and alignment with national conservation objectives. Notable partnerships are University of Mataram, Oxford Brookes University, The National University of Singapore, Yayasan Deep Blue Sea, Pokmaswas Deep Blue Sea, Pokmaswas Elak Elak, Pokmaswas Pandanan, Pemuda-pemudi Tanjung Luar, Marine Police NTB, Wildscuba Indonesia, Reef Check Indonesia, Reef Guru, Trelab, TreeApp, Ignite Foundation, Shark Stewards, Nusa Alam School, the Malaysia School International, Yayasan SORCE Konservati Indonesia, and PT SORCE Indonesia, PT AUTORE, Bird and Blend, the Juhler Group, and ICN Media. We continue to comply with local regulations and government departments including BPSPL, DKP NTB, the department of fisheries and maritime affairs, and the department of forestry and the environment and BKSDA NTB. Operational Development & Capacity Building Team Development: Continued investment in local staff training, skills development, and role diversification to support programme delivery and organisational resilience. During this year, 4 new members of staff were employed and trained, and 3 existing members of staff were promoted into new positions. Facilities & Equipment: Ongoing improvements to field infrastructure, equipment maintenance, and research capacity to support safe, effective, and scalable operations. Infrastructure Improvements: This year saw the upgrade of the Toilet and shower facilities including improved waste water handling . We also installed a second well to increase water capacity for the site. Challenges & Forward Planning Financial Sustainability: Securing stable and diversified funding remains a central challenge for the organisation. During this reporting period, SORCE CIC has actively developed and launched new funding pathways, including the introduction of a dedicated Corporate Social Responsibility (CSR) programme, alongside continued pursuit of grant funding, corporate partnerships, and public engagement initiatives. The CSR programme is designed to provide structured, transparent opportunities for corporate partners to support conservation and research activities while contributing to longer-term organisational resilience. Environmental & Fisheries Pressures: Ongoing impacts from overfishing, climate stressors, and habitat degradation continue to influence conservation outcomes, reinforcing the importance of evidence based advocacy and enforcement collaboration. Future Programme Development: Planning is underway for expanded research, monitoring, and education activities in response to emerging ecological data and stakeholder needs. This includes but is not limited to the pilot testing of a new artificial reef type, detailed exploration and logging of best practice pairings between coral species and both bursary and artificial reef media, expanded seagrass monitoring methodologies and training, investigations into the impact of particular reef species behaviours on restoration efforts, collaborations to monitor manta ray ranging patterns more closely, investigations into the use of AI for coral reef monitoring purposes, and expanded revenue opportunities to fund projects and operational proceedings. Public Engagement & Communications Continued development of digital communications and social media to improve transparency, accountability, and stakeholder engagement. Participation in outreach events and public facing activities to raise awareness of marine conservation challenges and solutions. Conclusion The 2024–2025 reporting period reflects consolidation, continuity, and adaptive management across SORCE CIC’s activities. While many programme areas remain consistent with previous years, this stability underpins long term impact, credible data collection, and meaningful capacity building. The organisation remains committed to its mission and to strengthening its contribution to marine conservation, research, and education in the years ahead.

Consultation with stakeholders

SORCEs stakeholders consist of but are not limited to all Eco-Venturers and Students from around the Globe who have visited or will be visiting the Indonesian facility, our conservation and research partners including University of Mataram (UNRAM), Shark Stewards, the Ignite foundation, Gili Eco Trust, Gili Shark Conservation, Pokmaswas Deep Blue Sea, Pokmaswas Baywatch, Pokmaswas LB, Yayasan Deep Blue Sea, Blue Corner Conservation and The National University of Singapore, Brookes University Oxford, Treeapp, TreLab, Autore, various local government departments, the local community of Tenggolong and Siung and local businesses and partners in our local coral nursery projects including, High Dive and Wild Scuba Indonesia. We have held regular meetings throughout the year with our local Indonesian Stakeholders regarding various conservation and education projects which are ongoing or are due to commence in the near future. We also regularly update all social media platforms to keep our international Stakeholders up to date with current and future projects. Further details in the Social audit attached.

Directors' remuneration

During this period, the Directors were renumerated with Salaries as dictated in the EOY accounts during this period, the Finance Manager was renumerated with a Salary as dictated in the EOY accounts during this period. It remains the aim of the company that in addition to expenses and other renumeration, the Directors & Finance Manager will receive backpay in lieu of a small salary of circa £700 pcm each at such a time as the company is able to facilitate this.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
16 February 2026

And signed on behalf of the board by:
Name: Kara Majerus
Status: Director