BIM 2007 ANNUAL REPORT BIM 2007 ANNUAL REPORT

Transcription

1 BIM 2007 ANNUAL REPORT BIM 2007 ANNUAL REPORT

2 CONTENTS Chairman and Board of Directors 02 Organisation 03 Chairman s Statement 04 Chief Executive s Report 06 Report of the Comptroller and Auditor General 18 Statement of Responsibilities of the Board 20 Statement on Internal Financial Control 21 Statement of Accounting Policies 22 Income and Expenditure 24 Statement of Total Recognised Gains and Losses 25 Balance Sheet 26 Cash Flow Statement 27 Notes on the Accounts 29 Grant Payments 37 BIM ANNUAL REPORT

3 CHAIRMAN AND BOARD OF DIRECTORS Chairman Rose McHugh Member Mary Keane Member Jacqui McConville Member Sean Freeman * Term Expired April 2007 Chief Executive Jason Whooley Secretary/Financial Manager Jim Morrissey * Mr. Whooley was appointed Chief Executive on 1 July 2007 Member Bobby Molloy Member Seamus Dooley Member Michael Dempsey Member Enda Bonner Member Ivan Coulter * Term commenced April BIM ANNUAL REPORT 2007

4 ORGANISATION Chairman Rose McHugh Chief Executive Jason Whooley * Appointed on 1 July 2007 Bord Iascaigh Mhara s mission is to promote the sustainable development of the Irish seafood industry at sea and ashore and support its diversification in the coastal regions so as to enhance the contribution of the sector to employment, income and welfare both regionally and nationally. The policies and programmes to pursue this mission are determined by the Board of BIM and are set out within the framework of the National Development Plan , EU policies and available resources. To service the Board of BIM and provide financial, administrative and other support services. To promote the sustainable development of the aquaculture sector by expanding existing farmed production of fish and shellfish, through improved efficiency and production techniques and by diversifying the range of species under cultivation. Secretariat Secretary/Financial Manager Jim Morrissey Aquaculture Development Manager Donal Maguire To facilitate and secure the longterm sustainable development and utilisation of Ireland s sea fisheries by working with the catching sector to raise standards, improve efficiency, and foster a commitment to environmentally friendly practices. To pursue a market-led approach to development by identifying and helping to exploit product/market opportunities, by promoting demand for quality Irish seafood at home and abroad and by supporting improvements in the marketing of fish and fish products. Fisheries Development Manager Michael Keatinge Market Development Manager Helen Brophy To develop the industry s human resources through training and educational programmes and to raise the quality of fish supplies through increased use of ice and improved fish-handling practices. Marine Services Manager Richard McCormick BIM ANNUAL REPORT

5 CHAIRMAN S STATEMENT Chairman Rose McHugh During 2007 both the seafood industry and BIM experienced significant change while also facing major challenges and opportunities. However, against this backdrop of change, the demand for quality Irish seafood continued to increase with estimated total sales for 2007 at a record level of 803 million. This ground-breaking seafood sales figure was strongly driven by the domestic market and was achieved on the back of record domestic market consumption in With increasingly challenging economic conditions both domestically and globally, it is crucial that Ireland focuses on maximising its indigenous industries including the seafood sector, to ensure the maximum economic and social contribution to Ireland s coastal communities and to the country as a whole. The year 2007 also represented a strategic turning point for the seafood industry in Ireland with the adoption into Government policy of the Steering a New Course, Strategy for a Restructured, Sustainable and Profitable Irish Seafood Industry This marks the first time that Government has set out its blueprint for the future development of the industry. The ongoing implementation of its recommendations is central to BIM s Development Programmes. Total grant-aid paid by BIM during 2007 was in excess of 24 million. This included 10.5 million under the Salmon Hardship Scheme which BIM administered for the Government and grant-aid of 14 million to industry on total investment in excess of 25 million. While no vessel decommissioning grants were paid out in 2007, state aid was sought and granted for a new decommissioning scheme which, with EU co-funding will provide up to 58 million towards the restructuring of the over 18 metres white fish fleet. Leading the line-up of BIM-hosted corporate events was the 2007 World Seafood Congress which Ireland successfully bid for and staged last year for the first time. BIM, with co-hosts Food Safety Authority of Ireland and Enterprise Ireland hosted the World Seafood Congress in Dublin s renowned Croke Park Conference Centre. This major international conference and trade show was attended by more than 500 seafood decision makers, regulators and influencers from over 35 countries who were offered timely debate on the crunch issues facing the global seafood sector. As I said at the outset, 2007 was a period of significant change for BIM itself. The Agency was transferred from the Department of Communications, Marine and Natural Resources portfolio to the remit of the 4 BIM ANNUAL REPORT 2007

6 Department of Agriculture, Fisheries and Food, with BIM coming under the aegis of Minister Mary Coughlan and Minister of State, John Browne. On behalf of the Board, Management and Staff of BIM, I would like to take this opportunity to thank Ministers Coughlan and Browne and the officials of their Department for their ongoing support. We also acknowledge the ongoing support and financial assistance of the European Union principally relating to the NDP Aquaculture and Fisheries Measures. Last year also saw the appointment of four new BIM Board members. I am particularly appreciative of the time and expertise which all members of the BIM Board have contributed to the service of BIM and more generally to the seafood industry. During 2007 we also saw the appointment of a new Chief Executive to BIM. I would like to take this opportunity to welcome Jason Whooley as our new Chief Executive and wish him every success with the ongoing roll-out of BIM s work under the Government s Steering a New Course policy. Finally, I would like to salute the hard work and dedication of the management and staff at BIM, whose contribution to the work of the organisation is invaluable as we all work in partnership towards the development of Ireland s restructured, profitable and sustainable seafood sector. Rose McHugh Chairman BIM ANNUAL REPORT

7 CHIEF EXECUTIVE S REPORT Chief Executive Jason Whooley OVERVIEW The year 2007 saw demand increase for quality Irish seafood, with total sales of million (excluding direct Irish landings at foreign ports), up 4% on the 2006 figure of million. A continuing increase in seafood consumption was the key driver in last year s positive growth which was also underpinned by improved innovation and greater marketing effort in the seafood sector. Data for 2007 indicates continuing growth in Irish retail and food service markets for seafood with domestic seafood sales amounting to million, up 8.7% on the 2006 level. Retail sales were valued at million while sales to the food service sector amounted to million. Irish Sales of Seafood in 2006 and Change m m % Retail Sector * Food Service * Total Value of the Domestic Market Exports Total Seafood Sales ** * Valued at prices delivered retail / food service ** Excludes Irish landings at foreign ports Irish Seafood Exports in 2007 Whilst export sales at 360 million were broadly unchanged from the previous year, Irish seafood held its own in traditional markets, enjoying a significant increase in sales in non-traditional markets such as Asia and Africa. In 2007, Irish seafood exports to France accounted for 24% of total exports at a value of 87 million. The UK was the second most important destination for Irish seafood at a value of 70 million while exports to Spain reached 63 million. Together these three markets accounted for 61% of the total value of seafood exports in In 2007 export sales to the non-traditional markets in the Far East, including Japan, South Korea, Hong Kong and China were collectively valued at 20 million. Further afield, pelagic exports to Nigeria increased in volume and value to almost 10 million and trade to Egypt was up at 7 million France Great Britain Spain Germany Italy Northern Ireland Value ( Millions) Denmark Nigeria Netherlands Other EU Sweden Belgium South Korea USA Poland Russia 6 BIM ANNUAL REPORT 2007

8 In 2007, the industry achieved solid results despite significant challenges, including increased fuel prices. As the developmental agency for the seafood sector, total BIM grant-aided investment in the sector amounted to 25.1 million. This excludes the Government Salmon Hardship Fund. Ninety firms engaged in aquaculture received grant-aid from BIM amounting to 6.56 million during 2007 on an aggregate investment programme amounting to 13.1 million. Total grant-aided investment for the fishing fleet and sea fisheries development, introduced to the fleet without grant-aid made up as follows: 8.9 million to which BIM and EU grants amounted to 4.7 million. Strategically, 2007 represented a significant turning point for the seafood industry in Ireland with the launch of Steering a New Course a Strategy for a Restructured, Sustainable and Profitable Irish Seafood Industry This strategy sets out a road map for an Irish seafood sector that is sustainable, profitable and market-focused. The report will be central to BIM s development programmes in the coming years. Finally, 2007 also saw Mr. Pat Keogh step down as Chief Executive of BIM. I would like to take this opportunity to acknowledge Pat s very successful and capable stewardship of BIM. Tribute must also be paid to his hard work and dedication not only to BIM, but more generally to Ireland s seafood sector where he made a valuable contribution for more than a decade. FISHERIES DEVELOPMENT Government and EU support under the National Development Plan has transformed a significant proportion of the whitefish sector into a modern, safe, and efficient fleet, comparable with the best in Europe. The NDP through the Fishing Fleet Development Measure has seen a total of 33 new vessels delivered to owners in the whitefish fleet from every major fishing port in the country. Notwithstanding the sharp increase in fuel prices over the past two years which has seen marine diesel increase from 0.27 to 0.70 per litre, and the reduction in fishing quota, the industry has continued to invest in renewal and upgrading. In 2006 this investment included the introduction of 23 new and second-hand replacement vessels (without grant-aid) and this has been followed in 2007 with a further 21 new and second-hand replacement vessels, introduced to the fleet without grant-aid, made up as follows: 1 new vessel under 12 metres. 2 new vessels under 24 metres. 1 second hand crab vessel under 12 metres. 2 second hand scallop vessels between 23 and 25 metres. 13 second hand whitefish vessels between 17 and 25 metres. 2 second hand beamer vessels under 24 metres. In addition, 291 vessel owners invested 4.58 million in improving vessel safety, young skippers, onboard quality, and Environmentally Friendly Gear and Fuel Monitoring Equipment received grant-aid of 1.28 million on this investment. BIM ANNUAL REPORT

9 CHIEF EXECUTIVE S REPORT Restructuring The Whitefish Fleet: Fleet Decommissioning Although there were no decommissioning grants paid out in 2007, state aid was sought and granted for a new decommissioning scheme. This EFF/NDP co-funded programme provides up to 58 million towards the restructuring of the over 18 metres whitefish fleet. The scheme is expected to be launched in early 2008 and 21 million has been provided which will facilitate the decommissioning of up to 25 vessels (amounting to 3,500 gross tonnes) from the polyvalent sector. Salmon Hardship Scheme In March 2007, following the recommendations outlined in the Report of the Independent Salmon Group and the Government decision in respect of this matter, the Minister for Communications, Marine and Natural Resources established a fund of up to 25 million to address the hardship likely to be experienced by commercial salmon fishermen affected by the Government decision to align the wild salmon fishery with the scientific advice from the Standing Scientific Committee of the National Salmon Commission for 2007 and beyond. The scheme was launched in March 2007 with BIM as the administrative agency and an initial closing date for receipt of completed applications set for 30 March. This date was later pushed back to 27 April on the instruction of the Minister. A total of 1,320 Letters of Offer have been issued, by BIM, to successful applicants. The total value of these, assuming all are fully taken up by the applicants, amounts to 24,864,000 (99.5% of the cost estimated by BIM in advance of the scheme). The closing date for receipt of all completed acceptances was the 31 December 2007 and by that date 697 applicants had received payments totalling million. It should also be noted that 12.6 million is provided in 2008 to pay the remaining applicants who submitted their acceptances during the last days of 2007 (in excess of 300) and to pay the second payment for those who chose to take their payments over 2 or 3 years. Supporting Measures For Sea Fisheries Development The Supporting Measures for Sea Fisheries Development provided grant-aid totalling million over a period of the National Development Plan to put in place structures that promote the sustainable development of Ireland s sea fisheries industry at sea and ashore and support its diversification in the coastal regions. During 2007 nineteen new projects were approved for funding under this measure, involving grant-aid of million with a total investment of million. This investment involved a range of initiatives spanning data collection in support of sustainable fisheries management, technical conservation measures and quality enhancement projects to improve markets. Specifically projects include: Monitoring and assessment of brown crab off the south and southwest coast. Improve size selectivity of pelagic trawl fisheries. Developing revised resource management system and quota stock. Financial assistance towards the installation of long term live holding systems for crustaceans. Economic data collection and analysis contributing to Sustainable Fisheries Management. The nineteen projects approved during 2007 bring to 128 the total number of projects approved under this measure since Overall during the year, grant-aid of million funded 33 projects from a total committed figure to date of million. Fisheries Inshore Diversification And Safety Programme Five new sea angling/marine tourism vessels were completed in 2007 with grant-aid of million towards a total investment of million. This brings to nineteen the number of new vessel grants provided since this diversification scheme was introduced in Total grant-aid to date for new vessels now stands at million on foot of a total investment at million. A further three new vessels were approved for delivery in 2008 and these vessels will receive grant-aid of million paid on an expected investment of million. Grant-aid of million was also provided for safety upgrades on 18 vessels in BIM ANNUAL REPORT 2007

10 Investment and Grant-Aid for Fisheries / Fishing Fleet in 2007 No. EU Grant State Grant Grant-aid Private Total Grant Investment Rate Salmon Hardship ,505,387 10,505,387 10,505, % Fleet Development Safety FIFG ,292 30, , , ,780 40% Safety De Minimis , , , ,901 40% On Board Quality ,252 67, , ,045 1,343,472 40% Environmental Gear/Fuel ,395 29, , , ,864 37% Young Skipper Scheme 6 88,514 88, ,027 1,593,241 1,770,268 10% Total , ,245 1,281,698 3,299,587 4,581,285 28% Inshore Diversification New Vessels 5 344, , , ,090 40% Safety 18 22,840 22,840 34,260 57,100 40% Total , , , ,190 40% Supporting Measures 33 2,704, ,931 3,501, ,523 4,310,578 81% Total Grant-aid ,666,577 11,988,439 15,655,016 4,659,424 20,314,440 User Friendly Guide To Completing The EU Logbook In early 2007 the Marine Technical Section produced a User Friendly Guide to completing the EU logbook, to assist fishermen comply fully with the requirements for filling in the logbook and also provide information in the correct format for stock assessors and managers. Fishing Technology and Fish Behaviour In April, BIM hosted the annual meeting of the ICES-FAO Working Group on Fishing Technology and Fish Behaviour (WGFTFB) and the Working Group on Fisheries Acoustics Science Technology (WGFAST). Over 150 Gear Technologists and Fishery Scientists from 30 countries attended this meeting to discuss a wide range of issues relating to Gear Technology, Stock Assessment Methodologies and Fish Behaviour. Waste Net Recycling In the latter part of 2007 following on from work carried out in 2006, the Marine Technical Section set up a net recycling site in Tramore, Co. Waterford. A net baling station has been installed at this site and over 20 tonnes of waste monofilament gillnets, as well as salmon nets taken back from fishermen as part of the Salmon Hardship Scheme have been successfully baled and transported to a Recycling firm based in the UK. Responsible Fishing BIM s Position statement on Responsible Fishing and Aquaculture provided the foundation and impetus for the publication, in May, of Environment Focus; a platform for the dissemination of BIM s environmental objectives and the results of associated programmes and initiatives. Quality Guides Building on the success of BIM s quality guide series for Pelagic Species and responsive to the requirements of industry, a series of 7 Quality Guides, covering 14 whitefish species, was launched by Minister Browne in September. The Guides received general acclaim and were distributed to all whitefish vessel owners, the Sea Fisheries Protection Authority (SFPA), Department of Agriculture, Fisheries and Food (DAFF), Seafish UK and other parties, as requested. First Resource Analyses Of Irish Crab And Lobster Stocks The first half of 2007 saw the publication by BIM of the first comprehensive Resource Analyses for Irish crab and lobster stocks. These documents compile, for the first time, all available information on the state of these stocks which are the mainstay of the Irish inshore fleet. Implementation Of First Inshore Fisheries Management Plans July saw the statutory implementation of the first Management Plans developed under the BIM ANNUAL REPORT

11 CHIEF EXECUTIVE S REPORT Shellfish Management Framework. These plans, for the Dundalk and Waterford cockle fisheries, represent a significant step in moving Irish inshore fisheries onto a properly managed basis. While these fisheries may be considered small and local in extent they nevertheless represent the culmination of over 12 months work with industry and will provide the basis to move to full compliance with environmental requirements in They will also provide valuable experience for dealing with other fisheries in the future. Long Term Live Holding Of Lobster 2007 saw the first fruits of a long term programme of development conducted by BIM and a number of third level institutions on the long term holding of shellfish to avail of the most favourable market conditions. Drawing on work conducted in BIMs demonstration unit at the MRI Laboratory in Carna and complementary work by GMIT, a holding unit based on Inisheer in the Aran Islands and run by the local co-operative successfully held lobsters caught in the summer for the Christmas market. This enabled the fishermen involved to increase the return from their catch and benefit from an increase of over 60% on the summer prices net of running costs. AQUACULTURE DEVELOPMENT One of the objectives for aquaculture development during 2007 was to complete the FIFG/NDP programme and carry-over of payments into the new programme period with de-commitment and re-commitment of project funding as necessary. An account of progress in achieving the objective is detailed in the following paragraphs. GRANT APPROVALS NDP Grant Approvals The last public call for applications under the Aquaculture Development Measures of the two Regional Operational Programmes was made in January 2006 and decisions on these applications were made at the end of July aquaculture projects sponsored by BIM were approved for FIFG and Exchequer grant assistance of million on eligible investment costs of million. Work on the implementation of these projects was on going during the course of 2007 and in order to ensure full take up of available FIFG funding, BIM operated an open call for qualifying applications in respect of decommitted funds from projects previously approved. A further seven projects were approved for combined FIFG and Exchequer grants of 0.93 million on investment costs of million. BIM Grant Approvals Complementing the NDP Aquaculture Development Measure, BIM administers an Aquaculture Grant Scheme under which small-scale aquaculture projects are promoted in a pilot development phase prior to full-scale commercial development under the NDP. The Aquaculture Grant Scheme also pilots the introduction of new technology and the opening up of new site locations for aquaculture. During 2007, 94 aquaculture projects were approved for Exchequer grant assistance of 1,886, on aggregate investment costs of 4,639, BIM also promotes quality and efficiency in the handling of fish and shellfish up to the point of first sale through the implementation of a Fish Handling Grant Scheme, which provides financial assistance on capital expenditure to upgrade structural facilities. Six projects were approved for Exchequer grants of 254, on investment costs of 853, GRANT PAYMENTS NDP Grant Payments NDP aquaculture grant payments of 5,694, were made to 31 private and 3 public projects, which were supported under the NDP, comprising 4,577, in FIFG grants and 1,117, in Exchequer grants. These payments are listed by beneficiary and county on page 47. BIM Grant Payments During 2007, BIM made grant payments of 1,119,139.5 to 63 projects under the Aquaculture and Fish Handling Grant Schemes. Grant payments of 863, under BIM s Aquaculture Grant Scheme and 10 BIM ANNUAL REPORT 2007

12 256, under BIM s Fish Handling Scheme are listed by project and county on page 46. SEAFOOD PROCESSING DEVELOPMENT MEASURE OF NDP NDP Approvals During 2007, five applications which had been submitted to BIM under the Seafood Processing Development Measure of the NDP were approved for grant-aid of 249,500 on eligible investment expenditure of 998,000 in added value seafood processing facilities. NDP Grant Payments During 2007, grant payments of 134, were made to four companies approved in 2007 under the Seafood Processing Development Measure. These payments are listed on page 49. A list of all grant payments by BIM under the Aquaculture Development Measures and the Seafood Processing Development Measure of the NDP and under BIM s Aquaculture and Fish Handling Grant Schemes is set out by beneficiary and county on page 44. Technical Development in Aquaculture Substantial progress has been made with regard to the development of commercial cultivation of a number of novel species in In particular, a major technical breakthrough was achieved in 2007 with regard to scallop spat availability and production of commercial quantities of arctic charr was also a feature of In addition, continued progress has been made in improving the reliability of perch culture systems with a view to bringing commercial production online in The preparatory pilot sampling, area descriptions and mapping were completed on behalf of the Department of Agriculture, Fisheries and Food during the course of It is understood that the responsibility for the implementation of the Shellfish Waters Directive will pass to the Department of Environment, Heritage and Local Government in It is not clear what BIM s ongoing role in the process will be once that handover is complete. Satisfactory progress was achieved in carrying out the pilot phase of the UISCE project. The international partnership was established, the computer application was developed, substantial verification sampling was undertaken and it is anticipated that the pilot project will be completed on schedule in Assuming that the pilot phase yields reasonable success, it is intended to seek further resources to roll out the application into a further number of bays around the coast in Technical work with the salmon and trout industries continued, particularly with regard to the development of feeds and culture systems to combat pancreas disease and to improve stock performance. BIM ANNUAL REPORT

13 CHIEF EXECUTIVE S REPORT Environment Regional and Quality Programmes A major focus of the Environmental Programme in 2007 was the development of an Environmental Impact Screening Protocol designed to assist the Coastal Zone Management Division of DAFF, to deal with the issue of Appropriate Assessment of aquaculture licences which are in, or adjacent, to designated sites. Work also continued on the in-house environmental programme being undertaken to attempt to bring BIM s own operations in line with the international environmental management system ISO The regionally based Aquaculture Development Officers continued to provide vital assistance to the sector in Together with their colleagues in the Aquaculture Initiative (BIM s cross border extension service), they serviced the many CLAMS Groups, carried out sampling for the designation process, assisted local producers in a range of activities and provided local intelligence to BIM was a landmark year with regard to aquaculture product quality assurance. A world-first Eco Label Standard for the production of farmed salmon and rope grown mussels was developed. The Mussel Standard was launched at the World Seafood Congress in September 2007, and the salmon standard was subsequently launched in America at the Boston Seafood Show. The Standard for Irish Quality Oysters was developed and completed during the course of It will be launched in early 2008 in conjunction with the Market Development Division. Other Significant Activities An in-depth review of the bottom grown mussel sector on the island of Ireland (in accordance with the Terms of Reference set out by DARD and DAFF) was carried out by BIM and the Aquaculture Initiative during the course of The review, a substantive document, is complete in final draft form and is awaiting ministerial approval prior to publication. The Review is to be published in The World Seafood Congress 2007 was successfully held in September 2007 in the Croke Park stadium conference centre. Feedback from delegates was extremely positive and the event garnered a great deal of positive media coverage and profile both for BIM and more importantly for the Irish seafood industry. Seaweed Development BIM s role in the commercial development of the seaweed industry has its origins in the National Seaweed Forum Report, which recommended that BIM should actively support the development of a greatly expanded but sustainable seaweed industry. During 2007, BIM provided grant assistance to Brandon Products Limited towards the development of a new seaweed processing plant at Asdee, Co. Kerry. The plant will manufacture a range of high value seaweed based fertilizers and speciality horticultural products and will commence production at Asdee in BIM also provided grant assistance to BioAtlantis Limited towards the expansion of its production plant at Kanturk Co. Cork in a second phase development programme which has doubled the company s production capacity. BioAtlantis produces a range of seaweed based horticultural and animal welfare products. The Seaweed Industry has received continuing support from BIM to target the European organic market as a potential outlet for Irish seaweed products. Three companies, Oilean Glas Teoranta, BioAtlantis Limited and Marigot Limited were assisted to exhibit at Biofach 2007 in Nuremberg, Germany for the second consecutive year. In conjunction with a number of seaweed processors, BIM also conducted trials on new processing and drying equipment which has lead to an improvement in the technology available to producers. A number of these companies have invested in equipment on completion of these trials. 12 BIM ANNUAL REPORT 2007

14 PROCESSING AND MARKETING DEVELOPMENT Sales of Irish seafood (exclusive of direct landings into foreign ports) amounted to million in 2007 which was up 4% overall on the 2006 level. Sales of seafood on the domestic market grew by 8.7% to million while exports were broadly at the same level as in 2006 and were valued at 363 million. Under BIM s Marketing Investment Programme in 2007, 48 projects covering market research studies, trade & market development, new product development and marketing skills were approved on an industry investment programme in marketing of 1.94 million. Percentage Growth in the Irish retail market for seafood 2006/ % 25% 20% 15% 10% European markets. A number of new reports were published on the business website, and BIM s Seafood Bulletin provided market intelligence on seafood categories and core market product analysis on a monthly basis to the processing and marketing sectors. A number of companies were also brought through the market research route to the market programme on brand development. BIM s European offices carried out a number of seafood promotional activities in 2007 including a retail promotional campaign for Saint Patrick s week and participation at major European trade shows such as Syrah, Biofach, Conxemar, El Salon del Club des Gourmets, Polfish and ESE. Activity with trade media included a German television trip to Connemara and an Irish seafood launch in France in autumn Regular market/species reports were carried out on the European market as well as a major consumer study on crab. On the Irish market, the Seafood Circle Programme was extended to promote the health and nutritional benefits of seafood and promote seafood sales in pubs, restaurants and hotels. The membership has continued to grow and there are now a total of 130 members. 5% 0 Total Market 2006 Fresh Frozen 2007 A joint marketing/aquaculture/fisheries development approach was put in place to capitalise on new quality, environment and eco-labelling developments. An Integrated Quality Scheme was developed and work is continuing on eco-labelling. BIM organised Ireland s annual participation at the European Seafood Exposition (ESE) in Brussels in April 2007 at which 26 leading Irish seafood companies participated. For ESE, BIM developed an innovative Seafood Market concept which enabled the participating companies to showcase the Best of Irish Seafood to international trade buyers. In 2007, BIM also co-ordinated Irish seafood industry participation at the Biofach Exhibition in Nuremberg and at the Boston Seafood Show. During 2007, BIM s market research programme was scaled-up and collaborated with a number of Irish seafood companies to explore new product/market opportunities both in the domestic market and in key An Inter Agency benchmark study group was formed to develop criteria for implementing Business Options and Step-Up Programmes for the processing sector to be carried out during The Seafood Development Centre provided quality, new product development and analytical services to the industry during A new project was initiated for the development of the SDC as the gateway for innovative, commercially focused product and process development. As part of the strategy to encourage innovation in seafood processing a number of new product development (NPD) projects were initiated with seafood companies in BIM ANNUAL REPORT

15 CHIEF EXECUTIVE S REPORT MARINE SERVICES Seafood Industry Training There were 1,705 attendances equating to 1,318 individuals at all BIM training centres during 2007 at a cost of 2.05 million. A major feature was the highest number of individuals undertaking three-day Basic Safety Training since the legislation was introduced in 2002, making it mandatory for all fishing vessel crewmembers. A number of safety oriented workshops were provided by training staff around the coast on the correct use of Personal Flotation Devices, manual handling and general safety awareness. A very well attended fishing vessel stability seminar was piloted in the southeast involving BIM and Marine Survey Office staff from the Department of Transport and further seminars on this vital safety topic are planned. The workshops and seminars provide basic practical information on a variety of safety topics in an easily assimilated fashion. The feedback has been very positive, frequently resulting in applications for training courses in BIM training centres. BIM s Aquaculture training provision continued to expand and a new FETAC accredited Fish Farm Welfare training module requested by industry was delivered to fish farm personnel. A new business training programme for supervisors, entitled Building on Advanced Supervisory Skills (BASS) was developed through a strategic training alliance between BIM and the Institute of Technology Tallaght. The training was delivered by video conferencing to seafood industry personnel in the Regional Fisheries Centre, Castletownbere and more of this training is planned in the future. A second replacement mobile Coastal Training Unit was launched by the Minister for Agriculture, Fisheries and Food, Ms. Mary Coughlan T.D., to provide radio, safety, fisheries and aquaculture skills training, complementing the first replacement Coastal Training Unit delivered in BIM s INTERREG IIIA funded Cross-Border Fisheries Training Programme in conjunction with SEAFISH (UK) and SFITA (Northern Ireland) was successfully concluded in December 2007, with 430 students having undergone fisheries, aquaculture and processing training in Northern Ireland and the Republic of Ireland. The work of the FÁS Seafood Processing Working Party, which involved BIM, Enterprise Ireland, the Food Safety Authority of Ireland, the Irish Fish Producers and Exporters Association (IFPEA), the Irish Association of Seafood Companies (IASC), relevant departmental staff and FÁS, concluded in The Working Party updated modules originally developed by BIM for the FETAC Certificate in Seafood Processing in line with current legislation. The revised modules were then piloted with industry, the outcome being a FÁS funded National Training and Assessment Programme available for the first time to the shore based processing sector. BIM assistance was also provided to produce a new EU funded multi-lingual handbook entitled Handbook for the Prevention of Accidents at Sea and the Safety of Fishermen. In addition, BIM s Quality Assurance Agreement with FETAC was agreed and implemented in Ice Plants Sales of ice were 17,150 tonnes for 2007, which was an improvement on the 16,500 tonnes sold in 2006 and consequently ice plant operational costs were significantly lower than the previous year. 14 BIM ANNUAL REPORT 2007

16 Summary of Training Attendances at all BIM Centres in 2007 Course Description: Attendances Sub-total Certificates of Competency DoT Deck Officer (Fishing Vessel) Skipper Full 2 DoT Deck Officer (Fishing Vessel) Second Hand Full 23 DoT Deck Officer (Fishing Vessel) Second Hand Limited 10 DoT / FETAC Engineer Officer Class 2 4 DoT / FETAC Engineer Officer Class 3 8 DoT / FETAC Passenger Boat Proficiency Commercial Endorsement 64 Navigation Control Course (Fishing) 9 Electronic Navigation Systems (Fishing) 5 Sub-total 125 Safety at sea 3-Day Basic Safety Training 521 STCW Elementary First Aid On-Board Ship 20 STCW Personal Survival Techniques 97 Medical First Aid 64 STCW Marine Fire Fighting 38 Sub-total 740 Radio Communications GMDSS Short Range Certificate 182 GMDSS Restricted Operator s Certificate 2 GMDSS Long Range Certificate 46 GMDSS General Operator s Certificate 38 Sub-total 268 Modular Skills Training HETAC Building Advanced Supervisory Skills 36 FETAC Certificate in Commercial Fishing 10 FETAC Certificate in Aquaculture 5 FETAC Workboat and Powerboat Handling Skills 26 FETAC Seaweed Ongrowing Operations 5 FETAC Farmed Fish Welfare 48 FETAC e-learning Navigation and Stability 18 FETAC Occupational First Aid 41 FETAC Manual Handling 46 FETAC Slinging and Crane Arm Operations 19 FETAC Marine Engineering Processes 32 FETAC Introduction to Commercial Fishing 14 Sub-total 300 Processing, Distribution and Retail FETAC Seafood Hygiene Management 62 Sub-total 62 Seminars and Workshops Aquaculture Mussel D-Larvae Workshop 14 Safety Awareness and Manual Handling 110 Safety workshops 64 Ropes and Splices 7 First Aid for fish farm divers 15 Sub-total 210 TOTAL 1,705 BIM ANNUAL REPORT

17 CHIEF EXECUTIVE S REPORT CORPORATE DEVELOPMENT Performance Contract with parent Department BIM s Performance Contract for the three-year period commencing 1 April 2006 was agreed with it s parent department. It sets out corporate governance requirements and performance targets across a range of development programmes, subject to available funding. Two reports were submitted on 11 December 2006 and 1 June 2007 detailing BIM s performance against the targets included in the Performance Contract. BIM Organisational Action Plan Towards 2016 In it s Modernisation Action Plan under Towards 2016, BIM, in partnership with Unions and Staff is committed to continual organisational change and innovation with a view to achieving: Improved customer service More efficient use of resources Further development of the Performance Management and Development System (PMDS) Enhanced benefits from information and communication technologies. The Modernisation Action Plan fully reflects the detailed targets set out in BIM s Performance Contract Progress reports have been submitted and relevant pay increases for all staff sanctioned by the Department following their review of these reports. Annual Report and Accounts 2006 The Annual Report and Accounts for 2006 was signed by the Board on 23 April 2007 and by the Comptroller and Auditor General on 25 June Printed Annual Reports in English and Irish were submitted to Government on 3 August 2007 and approved by Government on 1 September Information Systems Strategy In 2007, development and upgrade of BIM websites continued as did the enhancement of knowledge management through staff workshops, appointment of knowledge stewards in each Division and recruitment of a fulltime KM Stagaire in June 2007 to devise a KM plan for the organisation. Decentralisation The construction of the Department of Agriculture, Fisheries and Food and BIM s new Head Offices in Clonakilty by the OPW commenced in September 2007 and is due for completion in March Performance Management and Development System (PMDS) and Staff Training The Performance Management and Development System (PMDS) was applied to all BIM Management and Staff. At individual level this involved reviewing performance against objectives for the previous year and determining individual objectives and deliverables as well as setting training requirements in the context of Divisional and overall BIM Programmes. In 2007 BIM s Training Programme supported 60 individual staff members in the further development of their job related knowledge and skills as identified through the PMDS process. The identified requirement in knowledge and skills was addressed through participation in a range of recognised qualification courses. Of the 60 employees who participated in further education and training, 4 undertook Master Degree programmes, 2 undertook Degree courses, 5 commenced Diploma courses, a further 20 underwent Certificate courses and 29 employees completed specific job-related up-skilling courses. Group courses were organised in ECDL, MS Office 2003 modules, language classes and Bullying & Harassment Awareness Training. BIM is an equal opportunities employer. It is committed to ensuring equality of opportunity and its personnel and staff development programmes are geared towards this objective. The commitment to equality also extends to BIM s role in the training of personnel for the seafish and aquaculture industries where equal access to training is assured. Safety and Health at Work BIM is committed to implementing the provisions of the Safety, Health and Welfare at Work Act A written policy is in place together with a Safety Statement for all staff, together with activity specific Standard Operation Procedures indicating the appropriate measures necessary to protect the occupational safety and health 16 BIM ANNUAL REPORT 2007

18 of all employees and visitors within all BIM premises, which is continually updated. Integrated Access to Services BIM will ensure that the services they provide to the general public are accessible to people with disabilities where practicable and appropriate as set out in the Disability Act BIM is also committed to implementing the Code of Practice published in 2006 on Accessibility of Public Services and Information provided by Public Bodies. BIM complies with our obligations under the Freedom of Information Acts and in 2007 four enquiries were handled. Jason Whooley Chief Executive BIM ANNUAL REPORT

19 REPORT OF THE COMPTROLLER AND AUDITOR GENERAL for presentation to the Houses of the Oireachtas I have audited the financial statements of An Bord Iascaigh Mhara for the year ended 31 December 2007 under the Comptroller and Auditor General (Amendment) Act, The financial statements, which have been prepared under the accounting policies set out therein, comprise the Statement of Accounting Policies, the Income and Expenditure Account, the Statement of Total Recognised Gains and Losses, the Balance Sheet, the Cash Flow Statement and the related notes. Respective Responsibilities of the Board and the Comptroller and Auditor General An Bord Iascaigh Mhara is responsible for preparing the financial statements in accordance with the Sea Fisheries Act, 1952, and for ensuring the regularity of transactions. It prepares the financial statements in accordance with Generally Accepted Accounting Practice in Ireland. The accounting responsibilities of the Members of the Board are set out in the Statement of Responsibilities of the Board. My responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). I report my opinion as to whether the financial statements give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland. I also report whether in my opinion proper books of account have been kept. In addition, I state whether the financial statements are in agreement with the books of account. I report any material instance where moneys have not been applied for the purposes intended or where the transactions do not conform to the authorities governing them. I also report if I have not obtained all the information and explanations necessary for the purposes of my audit. I review whether the Statement on Internal Financial Control reflects the Board s compliance with the Code of Practice for the Governance of State Bodies and report any material instance where it does not do so, or if the statement is misleading or inconsistent with other information of which I am aware from my audit of the financial statements. I am not required to consider whether the Statement on Internal Financial Control covers all financial risks and controls, or to form an opinion on the effectiveness of the risk and control procedures. I read other information contained in the Annual Report, and consider whether it is consistent with the audited financial statements. I consider the implications for my report if I become aware of any apparent misstatements or material inconsistencies with the financial statements. Basis of Audit Opinion In the exercise of my function as Comptroller and Auditor General, I conducted my audit of the financial statements in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board and by reference to the special considerations which attach to State bodies in relation to their management and operation. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures and regularity of the financial transactions included in the financial statements. It also includes an assessment of the significant estimates and judgments made in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Board s circumstances, consistently applied and adequately disclosed. I planned and performed my audit so as to obtain all the information and explanations that I considered necessary in order to provide me 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 my opinion I also evaluated the overall adequacy of the presentation of information in the financial statements. Opinion In my opinion, the financial statements give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland, of the state of the Board s affairs at 31 December 2007 and of its income and expenditure for the year then ended. 18 BIM ANNUAL REPORT 2007

20 In my opinion, proper books of account have been kept by the Board. The financial statements are in agreement with the books of account. John Buckley 30 June 2008 Comptroller and Auditor General BIM ANNUAL REPORT

21 STATEMENT OF RESPONSIBILITIES OF THE BOARD Under section 9(1) of the first schedule to the Sea Fisheries Act, 1952, the Board is required to prepare financial statements in such form as may be approved by the Minister for Agriculture, Fisheries and Food with the concurrence of the Minister for Finance. In preparing those financial statements, the Board is 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 An Bord Iascaigh Mhara will continue in operation. disclose and explain any material departures from applicable accounting standards. The Board is responsible for keeping proper books of account which disclose with reasonable accuracy at any time the financial position of An Bord Iascaigh Mhara and which enable it to ensure that the financial statements comply with the statutory requirements. The Board is also responsible for safeguarding the assets of An Bord Iascaigh Mhara and for taking reasonable steps for the prevention and detection of fraud and other irregularities. Rose McHugh Chairman Seamus Dooley Board Member 20 BIM ANNUAL REPORT 2007

22 STATEMENT ON INTERNAL FINANCIAL CONTROL The Board Members acknowledge that they are responsible for the system of internal financial control and for reviewing its effectiveness. Such a system of internal financial control is designed to manage rather than eliminate business risks and can provide only reasonable rather than absolute assurance against material misstatement or loss. The key procedures which the Board Members have established with a view to providing effective internal financial control are as follows: A clear focus on business objectives as determined by the Board in the light of the statutory responsibilities. A defined organisational structure with clear lines of responsibility, delegation of authority and segregation of duties designed to provide an appropriate control environment. A risk management process which considers the strategy and business plans in the context of the annual budget process when financial plans and targets are set and reviewed by the Board in the light of determined objectives. A reporting and control system which includes review of the annual budget by the Board and regular review of actual results against budget. Control procedures comprehensive procedures manuals are maintained by the Board in respect of all of its main activities. In particular there are clearly defined limits and procedures for financial expenditure, including procurement and capital expenditure. Monitoring systems compliance with control procedures is monitored on an ongoing basis by management. The control system is also monitored by an internal audit function which is operated in the Accounts Department of BIM on grant-aid claims submitted by the Development Divisions to ensure that they comply with the relevant requirements of the Measures involved. This is supplemented by audit work performed annually on the various grant-aid measures by external auditors as required under the governing EU legislation of the Measures. The Board has set up an Audit Sub-Committee which consists only of non-executive Board Members and is chaired by a Board Member other than the Chairman of the main Board. The Board s monitoring and review of the effectiveness of internal financial control is informed by reports to the Audit Committee by management, the external auditors who carry out internal audit work in BIM as described above and comments made by the Comptroller & Auditor General in his Management Letter or other reports. In addition the Board has as required, commissioned independent reviews of specific internal financial control systems in the organisation. We confirm that the Board conducted a review of the effectiveness of the system of internal financial controls for the year ended 31 December Rose McHugh Chairman Seamus Dooley Board Member BIM ANNUAL REPORT

23 STATEMENT OF ACCOUNTING POLICIES Accounts Period Ended 31 December 2007 SEA FISHERIES ACT 1952 AND SEA FISHERIES (AMENDMENT) ACT 1964 An Bord Iascaigh Mhara was set up by the Sea Fisheries Act It is the State Agency with primary responsibility for the sustainable development of the Irish seafish industry both at sea and ashore and the diversification of the coastal economy. FORMAT OF ACCOUNTS The basis of accounting and the significant policies adopted by the Board are as follows: a). Basis of the Accounts The financial statements are prepared under the accruals method of accounting, except as indicated below, and in accordance with generally accepted accounting principles under the historical cost convention. Financial Reporting Standards recommended by the recognised accountancy bodies are adopted as they become operative. b). Departures from Accruals Basis (i) Payments made under the various grant schemes operated by the Board are accounted for on a cash basis. (ii) Oireachtas grants represent funding received and applied to services delivered in the year. (iii) Commitments arising on foot of approvals under the various Grant Schemes operated by the Board are shown in Note 15. c). Bad Debts Provision is made for loans and debts considered to be doubtful of collection and against any losses anticipated on foot of guarantees. Bad debts are written-off in the year in which the relevant loan agreement is terminated. d). Stocks Stocks are stated at the lower of cost or realisable value. e). Fixed Assets and Depreciation Depreciation is calculated on the straight-line basis. The rates used for the main asset categories are: Land and Premises Land Nil Premises: - Navigation Stations - Original 2% - Navigation Stations - Additions 10% - Other Premises 10% Plant and Machinery - Training Equipment ESF funded 16.6% - Other Plant & Machinery 10% - Technical Equipment 20% Gear and Equipment - Fishing Gear 50% - Vessels 10% - Office Equipment & Motor Vehicles 20% - Computer Equipment 33.3% f). Capital Reserves Capital Reserves comprise the unamortised value of capital grants used to fund fixed assets together with the residual amount of interest capitalised under loan restructuring arrangements in previous years. Ice plant assets are funded by a combination of Exchequer capital grants and repayable advances. As a result, the balance of Capital Reserves differs from the written-down value of fixed assets. g). Foreign Currencies Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates ruling at the Balance Sheet date. Revenues and costs are translated at the exchange rates ruling at the dates of the underlying transactions. Profits and losses arising from foreign currency translations and on settlement of amounts receivable and payable are dealt with in the Income and Expenditure Account. 22 BIM ANNUAL REPORT 2007

24 h). Pensions An Bord Iascaigh Mhara operates defined benefit pension schemes, which are funded annually on a pay as you go basis from moneys available to it including moneys provided by the Department of Agriculture, Fisheries and Food and from contributions deducted from staff salaries. Pension costs reflect pension benefits earned by employees in the period and are shown net of staff pension contributions which are retained by BIM. An amount corresponding to the pension charge is recognised as income to the extent that it is recoverable, and offset by grants received in the year to discharge pension payments. Actuarial gains or losses arising on scheme liabilities are reflected in the Statement of Total Recognised Gains and Losses and a corresponding adjustment is recognised in the amount recoverable from the Department of Agriculture, Fisheries and Food. Pension liabilities represent the present value of future pension payments earned by staff to date. Deferred pension funding represents the corresponding asset to be recovered in future periods from the Department of Agriculture, Fisheries and Food. BIM ANNUAL REPORT

25 INCOME AND EXPENDITURE For Year Ended 31 December 2007 Notes Income Oireachtas Grants 1 48,004,612 48,445,985 Net Deferred Funding for Pensions 19 (b) 2,718,739 2,394,807 Net Transfer from Capital Reserve 2 266,273 (868,722) 50,989,624 49,972,070 E.U. Grants 3 57, ,000 Turnover Ice Plants 4 915, ,165 Other Income 5 2,232,274 1,234,715 54,194,748 52,099,950 Expenditure Industry Capital Development 6 24,474,068 24,392,938 Industry Current Development 7(a) 15,281,231 14,075,887 Industry Current Administration 7(b) 4,487,267 4,767,177 Depreciation Charged During the Year 7(b) 3,259,142 2,588,735 Pension Costs 19 (c) 3,976,920 3,745,735 Other Expenditure 8 63,632 42,998 Expenditure on Ice Plants 4 1,067,128 1,069,033 52,609,388 50,682,503 Surplus (Deficit) for Year 1,585,360 1,417,447 INCOME AND EXPENDITURE ACCOUNT Balance at 1 January 2,111, ,158 Surplus (Deficit) for the year 1,585,360 1,417,447 Balance at 31 December 3,696,965 2,111,605 All income and expenditure for the year ended 31 December 2007 relates to continuing activities. (Accounting Policies and Notes 1 to 21 form part of these Financial Statements.) Rose McHugh Chairman Seamus Dooley Board Member Jason Whooley Chief Executive 24 BIM ANNUAL REPORT 2007

26 STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES For Year Ended 31 December 2007 Notes Surplus for year 1,585,360 1,417,447 Changes in assumption underlying the present value of pension scheme liabilities Actuarial Gain / (Loss) on Pension Liabilities 19 (f) 1,519,000 (705,000) Adjustment to Deferred Pension Funding (1,519,000) 705,000 Total Recognised Gains & (Losses) for the Year 1,585,360 1,417,447 All income and expenditure for the year ended 31 December 2007 relate to continuing activities. (Accounting Policies and Notes 1 to 21 form part of these Financial Statements.) Rose McHugh Chairman Seamus Dooley Board Member Jason Whooley Chief Executive BIM ANNUAL REPORT

27 BALANCE SHEET as at 31 December 2007 Notes ASSETS Fixed Assets Tangible 9 5,902,358 6,332,611 Financial - Term Loans 10 6,666 6,666 5,909,024 6,339,277 Current Assets Debtors , ,705 Stocks 9,970 14,363 Cash at Bank and in Hand 6,634,466 5,657,125 7,449,695 6,303,193 Less Current Liabilities Creditors and Accrued Charges 12 (2,941,965) (3,266,464) Total Assets less Current Liabilities before Pension 10,416,754 9,376,006 Deferred Pension Funding 19 (d) 49,400,000 48,200,000 Pension Liabilities 19 (e) (49,400,000) (48,200,000) Total Assets less Current Liabilities 10,416,754 9,376,006 Financed By Capital Reserves 2 5,363,326 5,611,525 Income and Expenditure Account 3,696,965 2,111,605 Exchequer Advances 13 1,356,463 1,652,876 10,416,754 9,376,006 (Accounting Policies and Notes 1 to 21 form part of these Financial Statements.) Rose McHugh Chairman Seamus Dooley Board Member Jason Whooley Chief Executive 26 BIM ANNUAL REPORT 2007

28 CASH FLOW STATEMENT For Year Ended 31 December 2007 Reconciliation of Balance Per Income and Expenditure Account to Net Cash Inflow from Operating/Development Activities Notes Surplus (Deficit) per Income and Expenditure Account 1,585,360 1,417,447 Bank Interest (188,823) (87,260) Net Transfer to Capital Reserve (266,273) 868,722 Depreciation charged to Income & Expenditure 3,259,142 2,588,735 Adjustment to Capital Reserve 52, ,273 Profit from sale of Fixed Assets (23,437) (5,008) (Increase) / Decrease in Stocks 4,393 (1,154) Decrease / (Increase) in Debtors: - Loan Debtors (18,074) (10,384) - Debtors Provision (29,637) - Other Debtors (155,480) (173,554) 166, ,600 Increase (Decrease) in Creditors (324,499) 1,642,963 Increase (Decrease) in Deferred Interest 18,074 (2,554) Net Cash Inflow / (Outflow) from Operating/ Development Activities 3,942,903 6,658,764 Rose McHugh Chairman Seamus Dooley Board Member Jason Whooley Chief Executive BIM ANNUAL REPORT

29 CASH FLOW STATEMENT For Year Ended 31 December NET CASH INFLOW (OUTFLOW) FROM OPERATING / DEVELOPMENT ACTIVITIES 3,942,903 6,658,764 CAPITAL EXPENDITURE Payments to acquire fixed assets (2,836,337) (3,254,589) Adjustment to Capital Reserve (52,520) (110,273) Receipt from sale of assets 30,885 34,226 RETURN ON INVESTMENTS AND SERVICING OF FINANCE Net loan repayments by fishermen 81,383 Bank Interest Received 188,823 87,260 NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES (2,669,149) (3,161,993) NET CASH (OUTFLOW) / INFLOW BEFORE FINANCING 1,273,754 3,496,771 FINANCING Exchequer advances received Exchequer advances paid (296,413) (300,268) NET CASH (OUTFLOW) FROM FINANCING (296,413) (300,268) INCREASE IN CASH 977,341 3,196,503 RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS Increase in cash for year 977,341 3,196,503 Net Funds at 1st January 5,657,125 2,460,622 NET FUNDS AT 31ST DECEMBER 6,634,466 5,657,125 (The Statement of Accounting Policies and Notes 1 to 21 hereto form part of these Financial Statements.) Rose McHugh Chairman Seamus Dooley Board Member Jason Whooley Chief Executive 28 BIM ANNUAL REPORT 2007

30 NOTES ON THE ACCOUNTS 1. Oireachtas Grants received during the year were as follows: Current Development 19,389,000 19,541,000 Capital Development 12,249,000 24,444,578 Salmon Hardship Scheme 10,537,587 Processing Scheme NDP 134, ,882 Aquaculture Scheme NDP 5,694,835 3,805,525 48,004,612 48,445, Capital Reserves Total Capital Deferred Assets under Total Capital Deferred Assets under Grants Interest Construction Grants Interest Construction Balance at 1 January 5,611,525 5,537,351 74,174 4,745,357 4,668,629 76,728 Capital Reserve Adjustment 52,520 52, , ,273 Amounts capitalised in year 2,854,411 2,635,707 18, ,630 3,252,035 2,954,751 (2,554) 299,838 8,518,456 8,225,578 92, ,630 8,107,665 7,733,653 74, ,838 Amortised in year (3,147,682) (3,147,682) (2,466,541) (2,466,541) Released on disposals on sale of assets (7,448) (7,448) (29,599) (29,599) Balance at 31 December 5,363,326 5,070,448 92, ,630 5,611,525 5,237,513 74, , E.U. Grants Grants Received: Marketing (Peace II) 56,439 E.U. E-Aqua 12,704 3,513 E.U. Degree Project 60,048 E.U. Necessity 44,738 57, ,000 Application of Grants: Used to Fund Marketing Programmes 56,439 Used to Fund Deep Blue & E-Aqua Projects 12,704 3,513 Used to Fund Degree Project 60,048 Used to Fund Necessity Programme 44,738 57, ,000 BIM ANNUAL REPORT

31 NOTES ON THE ACCOUNTS For Year Ended 31 December Ice Supply Operating results were as follows: Turnover 915, ,165 Less: Wages and Commission (455,327) (479,207) Operating Costs (485,605) (476,386) Administration Costs (97,422) (85,370) Interest Charges (28,774) (28,070) Surplus / (Deficit) on Operations (151,720) (295,868) 5. Other Income Comprises: Interest Charged on Loans 10,576 Bank Interest 188,823 87,260 Admin Income / Rent Receivable 356, ,739 Economic Reports 6,000 DCMNR Innovation & Change Management Fund, Subhead J 65,280 Fisheries Income 212, ,472 Marketing / Trade Show Income 860, ,760 Training Income 284, ,620 World Seafood Congress 299,907 Profit from Sale of Assets 23,437 5,008 2,232,274 1,234, Industry Capital Development - Including grants Sea Fisheries 5,598,587 4,513,387 Sea Fisheries Decommissioning 11,863,300 Salmon Hardship Scheme 10,537,587 Aquaculture 6,557,941 5,686,750 Fish Handling 256, ,674 Marketing 1,389,730 1,371,945 Processing 134, ,882 24,474,068 24,392, BIM ANNUAL REPORT 2007

32 NOTES ON THE ACCOUNTS 7. Industry Current (a) Development Sea Fisheries 2,855,892 2,975,876 Aquaculture 3,174,273 2,605,847 Marine Services 3,230,851 3,188,781 Marketing 4,605,459 4,093,703 Information and Planning 1,414,756 1,211,680 15,281,231 14,075,887 Note: Administration costs for salaries, travel and sundries of staff directly engaged in development activities are included in the above headings. (b) Administration Staff Salaries 1,294,891 1,434,368 Travel costs 73, ,993 Board Members fees and expenses 96, ,482 Rent, Rates and Repairs 1,404,114 1,336,482 Telephone, Postage and Stationery 290, ,660 Data Processing 350, ,576 Power, Light and Cleaning 53,462 35,368 Legal, Professional and Consultants Fees 226, ,199 Audit Fee 33,000 30,000 Annual Report 14,061 20,294 Insurance 116, ,275 Staff Development and Training Costs 231, ,922 Sundries and Trade Subscriptions 302, ,558 Depreciation during the year 3,259,142 2,588,735 7,746,409 7,355,912 Total 23,027,64 21,431, Other Expenditure Exchequer Interest Payable 40,792 33,919 Provision for Doubtful Debts (29,637) Sea Angling Safety Grants 22,840 38,716 63,632 42,998 BIM ANNUAL REPORT

33 NOTES ON THE ACCOUNTS For Year Ended 31 December Fixed Assets - Tangible Cost Total Land and Plant and Work in Gear and Premises Machinery Progress Equipment Balance at 1 January 48,304,095 10,184,520 13,075, ,838 24,744,186 Additions 2,836, , , ,630 2,158,853 Transfers 299,838 (299,838) Disposals (76,697) (76,697) Balance at 31 December 51,063,735 10,295,630 13,741, ,630 26,826,342 Depreciation Balance at 1 January 41,971,484 8,531,009 11,352,124 22,088,351 Charge for year 3,259, , ,244 2,264,900 Disposals for year (69,249) (69,249) Balance at 31 December 45,161,377 8,963,007 11,914,368 24,284,002 Net Book Values At 31 December, ,902,358 1,332,623 1,826, ,630 2,542,340 At 31 December, ,332,611 1,653,511 1,723, ,838 2,655, Fixed Assets - Financial Loans to Fishermen Balance at 1 January 6,666 88,049 Principal Due for Payment (81,383) Balance at 31 December 6,666 6,666 Less: Provision for Doubtful Debts 6,666 6, Debtors Comprise: Loan Debtors 1,193,756 1,175,682 Other Debts 520, ,131 1,714,367 1,540,813 Less : Provision for Doubtful Debts (909,108) (909,108) 805, , BIM ANNUAL REPORT 2007

34 NOTES ON THE ACCOUNTS 12. Creditors Comprise: Exchequer Advances Repayments 16,320 17,031 Trade Creditors and Accruals 2,925,645 3,249,433 2,941,965 3,266, Exchequer Advances Total Received to 31 December ,276,509 Amounts Received for Year Ended 31 December ,276,509 Less: Principal Repayable to 31 December ,722,449 Principal Repayable in ,413 31,018,862 Principal Written-off to 31 December ,901,184 Principal Written-off in ,901,184 60,920,046 Balance due at 31 December ,356,463 Comprising: 10 Year Loans for Ice Plants 631, Year Loans for Fishing vessels 725, Leasing (a) Operating Leases Lease charges payable in 2007 are estimated at 910,198 and comprise the rentals of premises occupied by the Board. These rentals are on foot of leases which are due to expire as follows: , , and after 779, ,198 (b) Finance Leases There were no finance leases in existence at 31 December 2007 BIM ANNUAL REPORT

35 NOTES ON THE ACCOUNTS For Year Ended 31 December Contingent Liabilities and Commitments There were contingent liabilities and commitments at 31 December, 2007 arising from: (a) Guarantees to Financial Institutions in respect of loans amounting to 94,081. A first mortgage is held as security for these guarantees. The Board was not called upon to make any payments in respect of guarantees in 2007 (b) Balances outstanding in respect of financial facilities approved but not taken up at 31 December were as follows: Aquaculture 2,595,121 Fisheries 1,188,828 Market Investment Grants 629,498 Fleet Supporting Measures 5,761,937 (c) Head Office building is leased from the Office of Public Works. This lease includes liability to maintain the building as it was in its commencement. An estimate for such work would be difficult to quantify, and would only be accounted for when the expenditure was incurred. (d)the Board is not defending any legal action. 16. Cross Border Aquaculture Initiative The Cross Border Aquaculture Initiative which is supported by the Special Programme for Peace and Reconciliation was incorporated in 1998 as a European Economic Interest Grouping and registered in the Companies Office. It is jointly owned by BIM and Northern Ireland Seafood Limited. 17. Bantry Equity Fund This fund was established by the government to promote the development of the aquaculture industry in the Bantry region following the closure of the Whiddy Oil Terminal. It is not possible to assess accurately the value of these shares, which is dependent on the performance of the enterprises. All shares are held in the name of the Minister for Finance. The following investments were held at 31 December Kush Seafarms Ltd 19,046 19,046 Fastnet Mussels Ltd 19,046 19,046 Silver King Seafoods Ltd 125, , , , Staff Salaries Staff salaries in the year are charged to the Income and Expenditure Account under the following headings. (They do not include ice plant operators and other contract staff). Staff Numbers 2007 Staff Numbers 2006 Division Market Development 20 1,425, ,413,764 Marine Services , ,515 Fisheries Development 18 1,181, ,335 Aquaculture Development , ,541 Administration 19 1,294, ,434,368 Information and Planning 8 481, , ,059, ,834, BIM ANNUAL REPORT 2007

36 NOTES ON THE ACCOUNTS 19. Pension Costs (a) Pension Scheme Bord Iascaigh Mhara operates unfunded defined benefit superannuation schemes for staff. Superannuation entitlements arising under the schemes are paid out of current income and are charged to the Income and Expenditure Account, net of employee superannuation contributions, in the year in which they become payable. The results set out below are based on an actuarial valuation of the pension liabilities in respect of serving, retired and deceased staff of BIM as at 31 December This valuation was carried out by a qualified independent actuary for the purposes of the accounting standard, Financial Reporting Standard No Retirement Benefits (FRS 17). The financial assumptions used to calculate scheme liabilities for the purpose of FRS 17 were as follows: Assumption Discount rate 5.5% 5.5% 5.5% Salary increase assumption 4% 4% 4% Pension increase assumption 4% 4% 4% Price inflation 2% 2% 2% On the basis of these assumptions, and using the projected unit method prescribed in FRS 17, the value of the accrued liabilities in respect of the BIM staff at 31 December 2007 was estimated at 49.4m (compared with 48.2m as at 31 December 2006). (b) Net Deferred Funding for Pensions in year Funding recoverable in respect of current year pension costs 4,450,000 4,200,000 State Grant applied to pay pensioners (1,731,261) (1,805,193) 2,718,739 2,394,807 (c) Analysis of total pension costs charged to Expenditure Current service cost 1,800,000 1,700,000 Interest on Pension Scheme Liabilities 2,650,000 2,500,000 Employee Contributions (473,080) (454,265) 3,976,920 3,745,735 (d) Deferred Funding Asset for Pensions The Board recognises these amounts as an asset corresponding to the unfunded deferred liability for pensions on the basis of the set of assumptions described above and a number of past events. These events include the statutory basis for the establishment of the superannuation schemes, and the policy and practice currently in place in relation to funding public service pensions including contributions by employees and the annual estimates process. While there is no formal agreement regarding these specific amounts with the Department of Agriculture, Fisheries and Food, the Board has no evidence that this funding policy will not continue to meet such sums in accordance with current practice. The deferred funding asset for pensions as at 31 December 2007 amounted to 49.4m (2006: 48.2m). BIM ANNUAL REPORT

37 NOTES ON THE ACCOUNTS For Year Ended 31 December 2007 (e) Movement in Net Pension Liability during the financial year (continued) ( 000) ( 000) Net Pension Liability at 1 January 48,200 45,100 Current Service Cost 1,800 1,700 Interest Costs 2,650 2,500 Actuarial loss / (gain) (1,519) 705 Pensions paid in the year (1,731) (1,805) Net Pension Liability at 31 December 49,400 48, Pension Costs (f) History of experience gains and losses Experience (gains) / losses on scheme liabilities amount ( 000) (1,519) 705 (209) percentage of the present value of scheme liabilities 3% 1% 0.5% Total Amount recognised in Statement of total recognised (gains) and losses amount ( 000) (1,519) 705 (209) percentage of the present value of scheme liabilities 3% 1% 0.5% 20. Board Members Interests The Board adopted procedures in accordance with guidelines issued by the Department of Finance in relation to the disclosure of interests by Board Members and these procedures have been adhered to in the year. There were no transactions in the year in relation to the Board s activities in which the Board Members had any beneficial interest. 21. Approval of the Financial Statements The Financial Statements were approved by the Board on the 16 May BIM ANNUAL REPORT 2007

38 FLEET GRANT PAYMENTS IN 2007 Grant Payments in 2007 Owner Vessel EU Grant BIM Grant Total Grant Clare 1,956 3,018 4,974 John Mellett & William Henry Kennaugh Serpico 1, ,726 Sean Lysaght Seavaux Michael Flaherty Querrin Lass Thomas Browne St Patrick John Oliver Browne St Cornelius Gerard Concannon & Tom Walsh Molly Bawn Cork 256, , ,428 Damien Deasy Les Marquises 22,750 22,750 45,500 Kenneth O Mahony Sean Mair 11 19,079 19,079 38,157 Larry, Wayne & Ryan Murphy Menhaden 24,717 4,119 28,836 Daniel O Driscoll Amadeus 17,513 2,502 20,015 Tony Browne Sally Pamela 10,000 10,000 20,000 Denis Whelan & Jackie Murphy Bara Segal 16,278 2,467 18,745 Knollway Limited Lovon 15,616 2,574 18,190 Labardie Fisher Limited Labardie Fisher 13,481 1,926 15,407 Danny O Driscoll Amadeus 13,268 1,895 15,163 Padraig O Toole Hafbjorg 7,385 7,385 14,770 Haven Fishing Limited Sean Mair 11 12,386 1,802 14,188 Frank & Martin Flemming Providence 11 8,768 1,253 10,021 Conor O Drisceoil L.S.D 4,300 4,300 8,600 Sheehan Fishing Co. Ltd. Ocean Reaper 11 6,000 1,000 7,000 Shellfish De La Mer Ltd Garvin Isles 5, ,741 Peter O Sullivan Greene & Richard Murphy Celtic Dawn I 5, ,644 Danny O Driscoll Amadeus 5, ,120 Sheehans Fishing Co. Ltd. Conquest 4, ,600 James Hurley Fisheries Ltd Mens-Scoedec 4, ,155 Shane Murphy Aurora Borealis 3, ,475 Patrick Deasy Aine Christina 3, ,469 Finbarr Desmond & Pearse Healy Madeleine Emile 3, ,769 James Hurley Fisheries Ltd Mens-Scoedec 2, ,788 Michael Desmond Sile A Do 2, ,653 Frank Flemming Providence 11 2, ,415 Peter O Sullivan Greene & Richard Murphy Celtic Dawn I 1, ,103 Cornelius Bohane Falcon Of York 1, ,844 Richard Murphy The Three Brothers 1, ,782 Patrick Murphy Glaoidh Na Mara 0 1,715 1,715 Shellfish De La Mer Ltd Garvin Isles 1, ,700 Richard Murphy & Peter O Sullivan Greene Celtic Dawn I 1, ,682 Richard Murphy The Three Brothers 1, ,614 Mark E Gannon Heather Ann 1, ,428 BIM ANNUAL REPORT

39 FLEET GRANT PAYMENTS IN 2007 Grant Payments in 2007 Owner Vessel EU Grant BIM Grant Total Grant (Cork continued) Patrick Hogan Adrianne 1, ,427 Larry O Driscoll Supreme 1, ,318 Tony Browne Sally Pamela 1, ,250 Ryan & Larry Murphy Antusa 1, ,240 Colin Whooley Capella 1, ,194 Christopher Hurley Alice Again ,073 Jeremiah Finbarr Donovan Kestrel 0 1,052 1,052 Padraig O Toole Hafbjorg ,015 John Sheehan Boy Adam Peter Corcoran Emily Dee Kieran Calnan Sea Breeze Martin O Driscoll Mighty Haggis John Motherway Admiral Denis & Ann O Donovan Carol Ann Diarmuid Dudley Black Rock Peter Murphy St Patrick Michael Taft Inis Mor John Isaacs Martine Ted O Driscoll Morning Star Hugh O Neill Christina Sean Harrington Gaia Pallas Fish Farms Ltd Ailbhe Niamh Roy ColIins Molly M John O Connor Bad Gorm Anthony O Sullivan Doubtsa Kieran Lyons Sarah Pascal Donal Murphy Ceann Loc Michael O Regan Kate Shellfish De La Mer Fair Maiden John Motherway Lynn Hanna Michael & Joe O Neill Ronseac Donegal 90,530 53, ,547 Ross Classon Ainmire 26,057 3,723 29,780 Ocean Trawlers Ltd Vigilant 18,750 3,125 21,875 Ross Classon Ainmire 18,635 2,662 21,297 Foyle Warrior Limited Foyle Warrior 7,506 1,072 8,578 Sean P Harley Mollie Og 5, ,769 Cara Rawdon Catherine R 4, ,683 Edward Kelly Regina Ponti 3, ,532 Edward McColgan Annelisa 1 0 3,000 3,000 Denis McColgan Leanita 2, ,390 Philip Cavanagh Helen Mary 0 2,218 2,218 Danny Bradley Rubicon 0 1,521 1,521 Eamon Toland St Fidelis 0 1,239 1, BIM ANNUAL REPORT 2007

40 FLEET GRANT PAYMENTS IN 2007 Grant Payments in 2007 Owner Vessel EU Grant BIM Grant Total Grant (Donegal continued) Patrick Cunningham Rachel Anne ,158 Eddie Doohan Rionnach 0 1,153 1,153 Paul McCrossan Whitehall Rose Robert Allen Lucy Lee Larry Dolan Atlantic Pearl James Bonner Roinna Charles Rodgers Star Of The Sea Conan Kelly Eoin Ward Seafoods Sea Spray Martin Keyes Celtic Dream John Michael O Donnell Catherine L Patrick Donaghey Arlands Angel Alec Carlin Phoenix John & Denis Coll Cait Siobhan James Doogan Sinead Paul Toland Naomi Pat Cunningham Rachel Anne Kieran Cox Shiela Marie Maurice Coll Canon Shields Gerard & Padraic Johnston Alternative Peter Daly Francisco Edward Kelly Regina Ponti Raymond John Mills Caitlin Paul McHugh Kerrie Marie Michael J & Niall McGinley Ann Lauren Anthony Boyle Roshine Lass Hugh McGarvey An Conallach Michael Lynch Naomh Ciara John Menary Silver Star Sean Meehan St Therese Hugh Toland Rosie Joe Rose St Bridget James Doherty St. Colmcille Michael Goodwin Natalie Margaret James Doherty Islander Francis McCauley Kelly Patrick Boyle Ocean Dawn Tom Ham Jackie Marie Jim Smith Girl Rosaleen Sean O Gara Tralore James Sweeney Chara Maith Brian J O Doherty Naomh Brid Thomas McBride Carraig Martin Charles Whyte St Benedict Kieran Boyle Naomh Ciaran Maurice O Brien St Oliver Charles O Donnell Little Edernish BIM ANNUAL REPORT

41 FLEET GRANT PAYMENTS IN 2007 Grant Payments in 2007 Owner Vessel EU Grant BIM Grant Total Grant (Donegal continued) James O Donnell St Nicole Kevin Meehan McDonalds Pride Charles Boyle Kachelle Michael Nicholson Klam Owen Harkin St Dallan Sean O Donnell Tor Beag Gerald Breslin Labhaoise Danny Ellison Ciara Rose Patrick Hannigan Marie H Anthony Ward Girl Linda John McGonagle Linda James Boyle Marie Patrick G Harkin Pride Of The Isle Tom Ham Jackie Marie James Boyle Gleann Corbraighe Ros Neil Ward Summer Sun Bernard Boyle Aimee Dublin Anthony Crawford Geabhrog Galway 289,807 56, ,328 Steven Conneely & Bartley Hernon Maria Magdalena ,887 17, ,156 Patrick O Malley An Capall Ban 112,875 16, ,000 Steven Dirrane Kittiwake 8,400 1,200 9,600 Coleman Donohue Victory 111 7,946 1,135 9,081 Shauna Ann Limited Shauna Ann 5, ,950 Sean Flaherty Glor Na dtonn 3, ,802 Steven Conneely & Bartley Hernon Maria Magdalena 111 3, ,692 Tommy Conneely Ceathrar Aluinn 3, ,500 Coleman Donohue Victory 111 2, ,497 Shean & Brendan Conneely Amity 2, ,260 Steven Dirrane Kittiwake 2, ,260 Steven Dirrane Kittiwake 2, ,800 Kristel Patrick Ltd Kristel Patrick 1, ,001 John MacDonagh Inishslacken 1, ,857 Shean & Brendan Conneely Amity 1, ,750 Padraic Dirrane Solas 0 1,408 1,408 Michael Sullivan Alison Jane 0 1,403 1,403 Marcus Connolly Dunalla 1, ,298 Seamus O Flaithearta Eeragh Lass 0 1,006 1,006 Colin Kelly Naomh Rioch William Nolan Medway Harvest Thomas Joyce Oisin Og Joseph Connolly Inishmurray Patrick Kelly Loch Corrib Coleman Donohue Victory BIM ANNUAL REPORT 2007

42 FLEET GRANT PAYMENTS IN 2007 Grant Payments in 2007 Owner Vessel EU Grant BIM Grant Total Grant (Galway continued) Frank Flanagan Petina Aidan Deegan Davey Boy Noel O Flaherty Froisin Patrick Wallace Paddy Return Padraic O Flatharta Brid Ellen Briochain Mannion St Treasa Sean Keane An Fidoir John Corbett Cailin Og Padraig Reaney Naomh Anna Philip Coyne Oisin Og Martin Quinn Patricia James Quinn Garvoge Michael Curran Grainne Aine Declan McLoughlin Omey Breeze Brendan Devane Tarka Josie Mannion Carra Beag Joseph Reaney St Joseph Peadar Cloherty An Droighin Michael P O Conaola Eimear Seamus O Neachtain Eas Michael Fitzpatrick An Duireog Martin Keane Maureen John Donoghue Caoran Coleman & Brid Coyne Cadhnach William Lavelle Marcus Michael Coleman Coyne Caisin Enda Mulkerrin High Island Star Kerry 103,503 28, ,413 John Foley & Partners Eben Haezer 29,909 4,272 34,181 Kerry Fish Investments Ltd Celtic Quest 13,056 1,865 14,921 Kerry Fish Investments Ltd Celtic Quest 12,959 1,851 14,810 David Granville Elsie Maria 11 10,976 1,568 12,544 Vincent Murphy Saint Andrew 10,566 1,509 12,075 Liam O Sullivan Fleetwood Lady 8,225 1,175 9,400 Patrick Begley Anserina 0 6,936 6,936 Thomas Kennedy Fiona K 11 5, ,290 James Orpen & Martin Dudley Stephanie 2, ,361 James Orpen & Martin Dudley Stephanie 2, ,971 Alex Crowley Emma Lou 2, ,409 David Granville Elsie Maria 11 1, ,240 Denis Williams Mdac 0 1,823 1,823 Kevin Hunt & Patricia Gill Mary Ellen 0 1,257 1,257 Richard Sheehy Ron Na Mara 0 1,109 1,109 Stephen Hennessy Ceathrar Aluinn David Granville Elsie Maria Thomas Russell Ann Patricia BIM ANNUAL REPORT

43 FLEET GRANT PAYMENTS IN 2007 Grant Payments in 2007 Owner Vessel EU Grant BIM Grant Total Grant (Kerry continued) Francis Roycroft Tern William Casey Stookisland Rover Muiris Sheehy The Cuileann Larry Kavanagh An Madra Uisce Eugene O Sullivan Eskadour Glory Robert Goodwin Inisalda Ciaran Slattery Ceann Muice Louth 147,721 22, ,447 Cecil Sharkey Endurance 86,928 12,418 99,346 David & Niall Kirwan Courageous 27,671 3,952 31,623 Barry Faulkner Celtic Cross 11,027 1,575 12,602 Craig Byrne Skipper 9,139 1,305 10,444 Tomás Whelahan Vierge Marie 5, ,284 Michael Kirwan Rose Of Sharon 4, ,654 Cathal Butterly Calypso 0 1,511 1,511 Dermot Marks Lady Fiona 1, ,172 Gerard & Liam Breen Hayley L Kevin Mulligan Gennesaret Mayo 8,908 9,970 18,878 John Stephen O Donnell Atlantic West 0 2,446 2,446 Eamonn Reilly Erris Queen 1, ,627 Cathal Reilly Dancing Wave 1, ,504 William Oglesby Arctic Swan 1, ,258 Joe Walker Beal Choinnigh 1, ,239 Edward & William Walker St Brendan 1, ,227 Michael Lavelle Leim An Bhradan Alan Flannery Blath Bawn Peter McManamon Kileen Thomas Pinder Bendoran Yvonne Kilbane Eayna Patrick Dever Dawn Potter John James Geraghty Rathli Anthony Burke Cuan Na Cuime Henry Keane The Cave Patrick McNamara Celtic Sea Martin Moran Stormy Wave Patrick McAndrew Greenore Seamus Heneghan Tullabawn Lass Denise Fallon Eilis James Corrigan Dolphin Paddy Keane Leanloch BIM ANNUAL REPORT 2007

44 FLEET GRANT PAYMENTS IN 2007 Grant Payments in 2007 Owner Vessel EU Grant BIM Grant Total Grant Sligo 0 2,427 2,427 Joe Kilgannon An tsall Cuac Vincent Kilgannon Tireragh Lass Patrick Herrity Moneygold John Waters Girl Kate Waterford 7,278 1,652 8,930 Sean P Kelly Rath Osan 2, ,296 Edward Carroll Martinique 1, ,553 Joseph Whitty Ard Chluain ,060 Maurice Condon Stephen Anthony Simon McCarthy Mystical Rose Patrick Power Nova Dawn Noel Kenneally Bandit Liam Kelly Jacinta Aine Sean Kelly Patricia Anne Wexford 51,128 34,425 85,553 Alan Foley Alma Amy 25,000 25,000 50,000 Michael Foley Western Dawn 10,885 1,555 12,440 Declan Bates Chloe B 3, ,964 Michael Foley Western Dawn 3, ,896 Brendan Moore Mary Cartherine 2, ,606 Thomas Power Stetru 1, ,155 Charlie Colfer Fiona Yvonne 0 1,552 1,552 Tony Beshoff Unity 0 1,176 1,176 William Walsh Thrift 0 1,051 1,051 Robert Murphy Garnish Fisher ,026 Patrick Maddock Genevieve ,004 Sean P Maddock Blaithin James Kielthy King Of The Sea Tony Beshoff Unity Thomas Molloy Bannow Bay Pat Ellard Eibhlin Thomas Power Stetru Peter Barry Fin-Ron Anthony Berry Aurora Wicklow 4, ,290 Tommy Kavanagh Ocean Wave 2, ,007 Albert & Liam Plunkett Glenrinnes 1, ,681 Gerard Dixon Cimarron Total 962, , ,281, BIM ANNUAL REPORT

45 BIM AQUACULTURE GRANT SCHEME Grant Payments in 2007 Beneficiary Exchequer Grant Cavan 35, PDS Irish Waters Perch Limited 35, Cork 222, Daly, Terence and Patricia Dunmanus Sea-Food Limited 7, Edgeworth, T., Coursey, J., O Leary, J. & O Leary, D. Messrs. 1, Fastnet Mussels Limited 14, Fundy Shellfish Products Limited 24, Kush Seafarms Limited 23, Mannin Seafoods Limited 23, Marigot Limited, T/A Celtic Sea Minerals 1, O Dwyer, Mr. Frank 16, Saltspray Mussel Technology Limited 10, Silver King Seafoods Limited 14, Southward Limited 21, Turk Head Enterprises Limited 38, Utterly Oysters Limited 2, Westpoint Shellfish Limited 3, Whooley, Mr. Colin 18, Donegal 267, Bruckless Bouchot Mussels Limited 13, Coffey, Mr. William A. 27, Comhlucht Iascaireacht Fanad Teoranta 58, Eany Fish Products Limited 6, Iasc Sliogach Uisce-Leathan Teoranta 2, McDermott, Mr. Danny 2, Mulroy Bay Mussels Limited 74, Oilean Glas Teoranta 8, North West Shellfish Limited 57, Walsh, Mr. Jim 17, Dublin 30, Irish Salmon Growers Association 30, Galway 130, Conemarra Flatfish Limited 1, Dillon, Mr. Eugene 1, Emerald Oysters Limited 4, Kelly, Ms. Laura, T/A Sea-Shores 8, Killary Harvest Limited 1, King, Mr. Josie 4, Larkin, Mr. Martin 6, Online Mussels Limited 14, Rí Na Mara Teoranta 19, Stofnfiskur Ireland Limited 65, Ward, Mr. John A. 4, BIM ANNUAL REPORT 2007

46 BIM AQUACULTURE GRANT SCHEME Grant Payments in 2007 Kerry 45, Brandon Products Limited 4, Bunaw Mussels Limited 1, Daly, Mr. Carl 12, Fish For You Limited 6, Kush Seafarms Limited 7, Shamrock Shellfish Limited 12, Louth 4, Aqua Fresh Fish Limited 4, Mayo 31, Blackshell Farm Limited 5, Connemara Seafoods Limited 2, Eirshell Limited 23, Roscommon 32, Keywater Fisheries Limited 32, Sligo 35, Celtic Seaweed Baths Limited 24, Cool Springs Arctic Charr Limited 11, Tipperary 5, Power, Mr. John 5, Wexford 13, Derrylea Holdings Limited 13, Wicklow 8, IDAS Limited 8, TOTAL 863, BIM ANNUAL REPORT

47 FISH HANDLING GRANT SCHEME Grant Payments in 2007 Beneficiary Exchequer Grant Cork 116, BioAtlantis Limited 116, Donegal 41, Foyle Fishermen s Coop Society 8, Whiskey Rock Fisheries Limited 33, Dublin 84, East Coast Inshore Fishing Company Limited 84, Galway 5, Oyster Creek Limited 5, Louth 8, Ferguson Shellfish (Carlingford) Limited 8, TOTAL 256, BIM ANNUAL REPORT 2007

48 NDP Aquaculture Development Measure Grant Payments in 2007 Beneficiary FIFG Grant Exchequer Grant Total Cork 1,323, , ,623, Bantry Harbour Mussels Limited 51, , , Dunmanus Bay Mussels Limited 45, , , Kush Seafarms Limited 283, , , Saltspray Mussel Technology Limited 40, , , Seal Harbour Enterprises Limited 194, , , Tower Aqua Products Limited 588, , , Utterly Oysters Limited 119, , , Donegal 1,022, , ,118, Bradan (Maoil Rua) Teoranta 348, , , Donegal Aquaculture Services Limited 12, , , Donegal Oceandeep Oysters limited 112, , , Donegal Oysters Limited 134, , , Emerald Mussels Limited 197, , Foyle Fresh Seafood Limited 69, , , Tardrum Fisheries Limited 147, , Dublin 95, , , Bord Iascaigh Mhara 95, , , Galway 612, , , Boet Mor Seafood Ireland Limited 31, , , Bord Iascaigh Mhara 460, , , Killary Shellfish Limited 2, , Mannin Bay Salmon Company Limited 59, , , Bord Iascaigh Mhara 58, , , Kerry 143, , , BioAtlantis Limited 73, , , Brandon Bay Seafoods Ireland Limited 69, , , Louth 195, , , Carlingford Oyster Company Limited 65, , , Ferguson Shellfish Carlingford Limited 34, , , Halcome Merchants Ireland Limited 95, , Mayo 424, , , Curraun Blue Limited 42, , , Feirm Farraige Oilean Chliara Teoranta 381, , , Offaly 119, , , Irish Ornamental Fish Farms Limited 119, , , BIM ANNUAL REPORT

49 NDP Aquaculture Development Measure Grant Payments in 2007 Beneficiary FIFG Grant Exchequer Grant Total Sligo 1, , Atlantic Clams Ireland limited 1, , Tipperary 195, , , Clune Fisheries Limited 195, , , Waterford 324, , , Bia Mara Deise Teoranta 199, , , Iasc Sliogagh Dun Garbhain Teoranta 72, , , P.K.A Limited 52, , , Wicklow 120, , , IDAS Limited 120, , , TOTALS 4,577, ,117, ,694, BIM ANNUAL REPORT 2007

50 NDP SEAFOOD PROCESSING DEVELOPMENT MEASURE Grant Payments in 2007 Beneficiary Exchequer Grant Cork 55, Leemar Seafoods Limited 23, Fastnet Mussels Limited 32, Limerick 62, Rene Cusack Limited 62, Wexford 16, Sofrimar Limited 16, TOTAL 134, BIM ANNUAL REPORT

51 TOWARDS INNOVATION AND SUSTAINABILITY IN THE FISHERIES SECTOR Supporting Measures for Sea Fisheries Development Programme - Grant Payments in 2007 Beneficiary EU Grant Exchequer Grant Total Border, Midland and Western Region Lobster Industry & BIM 41, , , BIM/Fishing Industry 372, , , Galway-Mayo Institute of Technology & BIM 6, , , BIM & Fishing Industry 499, , , BIM/Greencastle Fishermen s Co-op /Foyle Fishermen s Co-op 101, , , MRI, National University of Ireland, Galway 17, , , Malin Head Co-op, Errigal Fish Co. Ltd. & Galway-Mayo Institute of Technology 14, , , Killybegs Fishermen s Organisation & BIM 32, , , Burtonport Fishermen s Co-op & Galway-Mayo Institute of Technology 11, , , MRI, National University of Ireland, Galway/UCC/GSI/BIM 52, , , MRI, National University of Ireland, Galway 49, , , Galway-Mayo Institute of Technology & BIM 39, , , BIM & Marcon 68, , , Galway-Mayo Institute of Technology & BIM 31, , , BIM 43, , , Iasc Mara Teo. 13, , , Marine Institute & BIM 88, , , Marine Institute & BIM 104, , , Marine Institute & BIM 152, , , Marine Institute 224, , , Connemara Seafoods Ltd. 228, , , Sub-Total 2,195, , ,864, BIM ANNUAL REPORT 2007

52 TOWARDS INNOVATION AND SUSTAINABILITY IN THE FISHERIES SECTOR Supporting Measures for Sea Fisheries Development Programme - Grant Payments in 2007 Beneficiary EU Grant Exchequer Grant Total Southern & Eastern Region BIM 23, , , BIM 214, , , SE Shellfishermen s Association & BIM 22, , , BIM 18, , , Irish South & West Fish Producers Organisation & BIM 35, , , UCD/GMIT/Uni. of Hull/ BIM 35, , , Le Tene Maps 22, , , Kilmore Fish Co. Ltd. 45, , , Ilen Seafoods 13, , , Irish South & East Fish Producers Organisation Ltd 46, , , Charles Sexton 1, , John & Jimmy Laide 28, , , Sub-Total 508, , , TOTAL 2,704, , ,501, BIM ANNUAL REPORT

53 52 BIM ANNUAL REPORT 2007

54 BIM ANNUAL REPORT

55 54 BIM ANNUAL REPORT 2007

56 BIM LOCATIONS NATIONWIDE BIM Head Office Crofton Road Dun Laoghaire Co. Dublin, Ireland T F info@bim.ie BIM Killybegs Office T F Killybegsoffice@bim.ie BIM Galway Office T F tyndall@bim.ie National Fisheries College Greencastle Co.Donegal T F nfcgreencastle@bim.ie Regional Fisheries Centre The Pier, Castletownbere Co. Cork T F rfccastletownbere@bim.ie BIM LOCATIONS OVERSEAS BIM Paris T F info@bimfr.org BIM Dusseldorf T F tommclaughlin@bimdeutschland.de BIM Madrid T F madrid@bim.ie BIM London T mannix@bim.ie