THAMES ESTUARY PARTNERSHIP THAMES ESTUARY PARTNERSHIP (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2025 Charity No: 1083199 Company No: 03807387
THAMES EsfuARY PARTNERSHIP FOR THE YEAR ENDING 31 MARCH 2025 CONTENTS Pages Legal and administrative information Trustees, report Independent examiner's report Statement of financial activities io Balance sheet 11 Notes forming part of the financial statements 12-21
THAMES ESTUARY PARTNERSHIP ANNUAL REPORT AND ACCOUNTS ST FOR THE YEAR ENDING 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDING 31 MARCH 2025 TRUSTEES AND DIREcfoRS Roger de Freitas Independent Chair Jonathan Whitby Independent Trustee Angela Dees IndependentTrustee Chair, Director and Trustee Director, Treasurer and Trustee Director and Trustee Company Number 3807387 Charity Number 1083199 Registered Office Room 117, 26, Bedford Way London WCIH OAP Company Secretary Amy Pryor Independent Examiner Richard Weaver FCA Haysmac LLP Chartered Accountants 10 Queen Street Place, London EC4R IAG Bankers Royal Bank of Scotland, Gravesend Branch, 30 King Street Gravesend, Kent DA12 2XX Solicitors Thompsons, Congress House. Great Russell Street London, WCIB 3LW
THAMES ESTUARY PARTNERSHIP ST ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2025 Introduction from the Chair, Roger de Freitas I have great pleasure in introducing the Thames Estuary Partnership's ITEP'S) Annual Report 2025. Since joining TEP in 2022 as a Trustee and being elected Chair in November 2024,1 have been very proud to be part of this charity. TEP is a long standing 'honest brokerf organisation, trusted and respected for enabling collaboration across sectors and communities, connecting ideas, people and organisations to co-develop solutions for a resilient, Sustainable and prosperous Thames Estuary. Before becoming a Board member, I have been an active part of TEP'S network and an avid supporter of their work. I have actively helped connect other groups from across the world with the TEP team for knowledge exchange and mutual benefit, learning from each other's approaches and disseminating reports and best practice guidance produced here on the Thames. For example, the TEP-managed Estuary Edges guidance has been used in The Philippines for over 13 years. Since its establishment 25 years ago, TEP has been at the forefront of driving key partnerships and projects, a 'knowledge hub, for the Thames Estuary and connector to support collaboration. Climate change, environmental degradation and a growing population are key challenges London, Essex and Kent faces and now more than ever there is a strong need for building stronger cross-sector, cross-river partnerships to tackle these shared challenges collaboratively. Many Thames Estuary and Thames tributary riverside communities are in danger of surface and riverine flooding and Sit behind tidal flood defences that will require raising or nature-based solutions to be resilient to Sea Level Rise over the coming decades. These communities are also amongst the most ethnically diverse, economically deprived and underserved communities in the Southeast. They need improved access to nature, together with skills and job opportunities designed to meet their unique needs, boost their socio- economic resilience and maximise their health and wellbeing. TEP is building an Equality, Diversity, Inclusion and Belonging Framework, with support from those with expertise and lived experience, and educational proErammes to be delivered alongside our environmental efforts for a more holistic and inclusive approach. Throughout 2024/25 we have continued to facilitate, lead and build upon several local and national collaborative projects. Locally we have continued to focus on the key themes of environmental enhancement and data visualisation through strategic land and seascape-scale mapping (Estuary Edges and the Roadmap to Climate Resilience), supporting local sustainable routes to market for commercial fishers (Fish Local} and working in partnership with NGOS tackling estuarine and coastal habitat restoration and water quality (Transforming the Thames, Your Tidal Thames Catchment Partnership and the Thames Evolving Foreshore Project). In July 2024, we successfully secured £1.72M to support the development of a new multi-sector strategic estuary- wide collaboration, the Joint Thames Strategy IJTS). JTS aims to update and improve the three existing Thames Strategies (supplementary planning guidance in the London Plan) and create two new ones where none exist to cover the entirety of the Tidal Thames. Each strategy covers a characteristic stretch of the Thames Estuary, linking boroughs across and along the river. These strategie5, agreed with local communities and between riverside and coastal boroughs, provide a sub-regional context in which decisions relating to the plannin8 and management of the river can be agreed. Working in partnership with the Thames Landscape Strategy Weybridge to Kew, Thames Strategy Kew to Chelsea, lead partner London Borough of Richmond upon Thames and the Environment Agency, this is an exciting opportunity to address and embed nature and socio-economic needs alongside flood defence needs (TE2100 into riverside planning processes and be adopted by each Borough's Local Plan, ensuring their delivery over the longer term. Working collaboratively on strategies enable5 each area to build their individual policies while having the support of the entire network for tackling shared challenges. From July 2024, TEP and partners have established robust governance of this large-scale project including a project board, finance sub-group and key Thames Stakeholders Steering Group to ensure regulatory and industry priorities are aligned. TEP have recruited new team members to deliver the JTS and improve our organisational structure. A TEP JTS project manager started in January 2025 and has carried out estuary-wide engagement with
THAMES ESTUARY PARTNERSHIP ANNUAL REPORT AND ACCOUNTS ST FOR THE YEAR ENDING 31 MARCH 2025 London Borough Councils to record their needs and priorities, and to establish Thames Strategy Steering Groups in two of the JTS areas. This includes Starting to co-design the community engagement plans to be rolled out in 2026. These engagement plans will incorporate all voices from across the public, businesses, NGOS and communities and help shape the future of their riverside locally and regionally. Our Roadmap to Climate Resilience GIS platform was finalised at the end of March 2025 and will be demonstrated to partners and communities ready for full public launch in 2026. This platform brings together socio-economic and environmental publicly-available data into one, user friendly space for community and practitioner use and evidence-led decision making. It includes guides on how to navigate and use the platform and interpret the data objectively. We intend to utilize this in ourJTS and broader community engagement to improve our, and partners,, social impact and find gaps in the knowledge and data needed for our collective future resilience. Nationally, we have continued to drive forward the development of the UK Coastal Partnerships Network ICPNI to support knowledge exchange between 55 Coastal, Estuary and Marine Partnerships {CEMP5} similar to TEP, supporting local delivery of the Levelling Up and Regeneration Act 2023 and targets set out in the UK Environmental Improvement Plan in coastal communities. TEP has led on multiple national level projects through the CPN, including developing a new Learning and Development Programme for CEMP Officers and estuarine/marine practitioners {Compass), supporting delivery of the Environment Agency's Restoring Meadows Marsh and Reef (ReMeMaRel initiative (coastal and estuarine habitat restoration) and leading the development of a new cross-sector National Framework for Championing Coastal Coordination (NFCC}. All national work inform5 and is reflected in our practice locally as the CEMP for the Thames Estuary. Through this work, we are also growing our knowledge and expertise in the field of blue and green finance, natural capital and social impact, with the ambition to test and trial investable business models that will support accelerated environmental enhancement and improve the social impact of CEMPS. All of this work has been delivered in partnership with our stakeholders and members at national, regional and local scales. The outputs have been disseminated across our communication channels and are in the public realm for all to benefit from. Moving forward we intend to support the establishment of the CPN as a Charitable Incorporated Organisation and build on this work locally and regionally. We are in the process of revising our charitable objectives to reflect this national collaboration and impact and public benefit of our work. Many of the projects summarised above (with detail in the body of the report below) will continue to evolve and grow with support from our funders, partners and communities. Our core funders, key stakeholders and project partners, continue to show their belief in the value of TEP. l am grateful to all of them for the support they have provided the charity. On behalf of the Trustees, I thank Heather, Amy and the TEP team for all the hard work thi5 year and their continued leadership. d this Annual Report for your approval. Roger de Frei as (Chair- Thames Estuary Partnership) Date: 28 January 2026
THAMES ESTUARY PARTNERSHIP ANNUAL REPORT AND ACCOUNTS sr FOR THE YEAR ENDING 31 MARCH 2025 The Trustees, who are also directors under company law, present their report and financial statements for the year ending 31 March 2025. The Trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102 (Second Edition, effective l January 2019). srRUCTURE, GOVERNANCE AND IVIANAGEMENr Constltutlon The Charity was set up by a Memorandum of Association. Thames Estuary Partnership Ltd (referred to as th 'YEP") is a Company Limited by Guarantee and was registered on 9 July 1999. The Company Number is 3807387. It is governed by Memorandum and Articles of Association and became a registered charity, called Thames Estuary Partnership, on 6 November 2000. The charity registration number is 1083199. Method of appointment or election of Trustees The management of the charity is the responsibility of the Trustees who are elerted or co-opted underthe terms of the Memorandum and Articles of Association. Objectives and activities The partnership was established to conserve, protect and maintain the coastal, environmental and natural heritage of the Thames for the public benefit. It covers the tidal Thames from Chelsea to Shoeburyness in Essex and the Isle of Grain in Kent dealing with education, dredging, research, recreation, archaeology and fisheries, river transport, riverside development and others. In line with TEP objectives, the activities we have undertaken to achieve our purpose are detailed below. Public benefit The Trustees are aware of the public benefit guidance and have taken it into account when making decisions to which the guidance is relevant. The main activities undertaken to further the charity's purposes for the public benefit include the walks and talks, conferences and facilitated Action Groups TEP hosts to improve the sustainable management of the Thames and as beneficiaries of projects developed, managed and delivered both solely by TEP and in partnership with other organisations. All of TEP'S approaches, methods and knowledge are made publicly available via our website and the Roadmap for Climate Resilience which brings together socioeconomic and environmental publicly available data into one, user friendly space for community and practitioner use and evidence led decision making. More details of these are given below. We believe in open access to data and information and wherever possible we make this happen. We ensure all our resources, events and project outputs {where appropriatel are available and accessible to the public and ensure the details and opportunity to attend our events are spread throughout our network, our supporters, networks and across our media channels. Events and Conferences Our events and conferences are open to members and non-members alike. This year we hosted several guided walks for the public as part of London Rivers Week {Mayl and the Totally Thames Festival (September). Communication Thames Talk e-news, our monthly e-newsletter, keeps our members and wider network of 5,CMJO stakeholders in
THAMES ESTUARY PARTNERSHIP ANNUAL REPORT AND ACCOUNTS ST FOR THE YEAR ENDING 31 MARCH 2025 touch with what's happening on the river. Our digital assets continue to grow in popularity and are regularly accessed. These include a virtual boat trip which maps out points of interest along the river, including human and natural history, across So locations covering the entire tidal Thames. The Talk of the Thames podcast interviews Thames community members from across interests and sectors to discuss interesting topics such as flood defence, seals and wildlife and archaeology. Across all our digital platforms including Linkedln, X, Instagram and Facebook, we have just over 4.7k total followers, with regular engagement when posting. Volunteers TEP has worked with volunteers in a wide range of activities in the past. This year we have been supported by one green finance volunteer. Membership Our membership is made up of individuals, charities, academics, industry professionals (mainly from engineering, construction and infrastructure provision), regulatory authorities and local authorities. Our membership model is to be refreshed in 2025126 in line with a refreshed Business Plan and will remain open to the public through an individual membership offer. Forums TEP facilitates themed forums to provide a platform for discussion, exchange of ideas and a way to resolve issues. These Forums draw widely from TEP'S work and the local community through project work and external fora but are not open to the general public as they tend to require technical or experiential knowledge and sometimes deal with commercially sensitive data. Each group is chaired by one of the member organisations and has a Terms of Reference. TEP provides the secretariat and administration. The outputs are published on the TEP website, and the general public can contact TEP at any time about any of the work we do through these fora. We currently organise the following groups: Dredging Liaison Group, set up to enable a focused knowledge exchange platform for dredging operators, consultancies, regulatory authorities, researchers, port operators and commercial fishermen to be able to discuss relevant issues, latest technology and upcoming opportunities for collaborative research. This is our longest running forum and consistently well attended with usually around 20 attendees from a forum membership list of 60. Discussion and output inform our work on commercial fisheries and intertidal habitat creation. National Trdils Thames Path fidal Group, set up in response to the gap in strategic management of the Thames Path in the tidal Thames area. This is a small group consisting of NGOS, regional representatives of the National Trails Management Group (who manage the Thames Path upstream of Teddington) and Natural England (who are designating the England Coastal Path which will join up with the Thames Path at Woolwichl. Attendance is always 100% due to the small size and we represent the tidal Thames Path at the wider regional meetings. Discussion and outputs inform our work on riverside development, marine planning, public access and recreation. ACHIEVEMENTS AND PERFORMANCE Delivery of projects TEP has continued to deliver projects that meet our charitable objectives including: Joint Thames Strategy- In response to increasing flood risk from climate change, the JointThames Strategy provides a 'handbook for change" from Surrey to the Sea. It aligns five local Thames Strategies into one cohesive vision, embedding the Environment Agency's Thames Estuary 2100 Riverside Strategy approach and being delivered by an overarchingThames Strategy Partnership (TSP). By working collaboratively, the TSP empowers local communities and authorities to integrate enhanced flood resilience with wider benefits creating a more vibrant, accessible, biodiverse and economically robust Thames for future generations. As these are co-developed with Local Authorities and communities, the JTS provides a unique opportunity to engage inclusively with
THAMES ESTUARY PARTNERSHIP ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDING 31" MARCH 2025 riverside communities and enable the delivery of social and environmental benefits through adoption into the Local Plan and the Mayorfs London Plan, This will be the lever that communities and Local Authorities need to ensure investment from economic and development activity whilst ensuring climate resilience into the future. Estuary Edges- Estuary Edges are soft-engineered designs retrofitted into hard flood defences to create intertidal habitat within the urban estuary margins. This is an ongoing project to promote the use of the Estuar Ed es Guidance for Develo ers and embed the approach into the planning system. In 2024/25, the project was mostly dormant due to lack of funds and changes in funderfs funding streams. However, we continued to develop student training and conducted fish surveys in three sites with partners and post-graduate UCL students. We also supported the development of a PhD proposal based on fish utilisation of urban and coastal engineered and restored sites. The successful PhD candidate is a TEP employee, who reduced her time to 0.2 FTE at TEP and aligns her Estuary Edges work with the PhD, benefitting both new research and TEP knowledge. The Roadmap to Climate Resilience is our GIS platform to enable integrated data management across open access socio-economic and environmental data, including climate data. This evolved from the previously completed Greater Thames Estua Fish Mi ration Roadma ro'ect a mapping tool that visualises data of barriers to fish passage and other land use data for better place-based, community-led local decision making for river restoration. In 2024/25, we finalised collation of data and recruited a new GIS and Data Manager who designed and built the user-friendly platform to support intertidal/coastal and landward riverside habitat restoration and community-led development. By integrating data across the land/sea interface we can work with communities to co-develop a coastal habitat restoration plan {inclusive of Estuary Edges above and community access and training needs) for the whole Thames Estuary and support the identification and agreement of areas that can either be restored or enhanced. We will be demonstrating this to key partners and offering the platform for use in partner projects to evolve the site and make adjustments according to use and need. TEP will also increasingly use this platform to underpin our programme of work and be utilised by stakeholders and communities into the future e.g. JTS. We continue to support others in their data management and keep the Fish Migration Roadmap updated with data from partners. The Thames Evolving Foreshore Project, led by Thames21, set out to develop a public Science approach to monitoring erosion and accretion of the Thames foreshore at key sites where flood defences could be undermined. In 2024/25, TEP is part of the project partnership leading on the GIS story map for public communications. Fish Local set out to identify underutilised commercial fish species that can be caught across the Kent and Essex district which are mostly overlooked or less valued and look at way5 to better promote and remarket them. This in turn creates demand for locally caught fish, improving the price and benefiting small-scale commercial fishers. Herring was identified as the best species to take forward into a rebranding exercise and marketing strategy development. In 2024/25, preparation for the next fishing season to sample herring for genetic evaluation and potential scientific reclassification got underway. As well as continued work with the industry to develop local market networks and increase the sale value of local herring. This has included supporting a young fisherman into the industry and establish a new business. Coastal Partnerships Network (CPN) is a national network connecting 55 Coastal, Estuary and Marine Partnerships {CEMPsl similarto TEP around the UK. We support the CPN nationally in several ways {see below) and we drive forward the regional and local delivery as the local CEMP in the Thames. In 2024/25 TEP led on a fifth stage of strategic development to strengthen and professionalise the CPN with funding from the Environment Agency: Championing Coastal Coordination13Csl is an Environment Agency funded initiative seeking to explore how to enhance and progress coordination for coastal sustainability and resilience in England. The development of a National Framework for Coastal Coordination and supporting coSlaborative platforms {Coastal Coordination Hub and Coastal Data Hub} was progressed with further funding secured for Development Phase 3 and delivered again in tight timelines. A Coastal Coordination Hub was designed and built ready for population in 2025/26. We continue to develop a Building Capacity Programme within
THAMES ESTUARY PARTNERSHIP ST ANNVAL REPORT AND ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2025 this workstream and develop a peer-to-peer learning network of CEMP Officers supporting each other in learning and building key hard and soft skills. Most notably, the CPN achieved Charitable Incorporated Organisation status in June 2024 and a transition programme got underway to establish its governance, policies and financial management processes to enable independence from TEP by April 2026. The Catchment Based A roach CaBA J is an inclusive, civil society-led initiative that works in partnership with Government, Local Authorities, Water Companies, businesses and more, to maximise the natural value of our environment. Led by The Rivers Trust, CaBA operates nine National Working Groups underpinning the work of a National Steering Group. TEP co-hosts the local Catchment Partnership for the Tidal Thames with Thames21 and collaborates with the national Rivers Trust on the 3Cs project for a catchment to coast approach across catchments enabling collaboration between CEMPS and Catchment Partnerships around England. FINANCIAL REVIEW During the year ended 31 March 2025, total income was 2025: £841,504 (2024: £660,361) and total expenditure was 2025: £866,22812024: £640,553}. The net expenditure was 2025: £24,723 {2024: net income of £19,808). Reserves review including policy The Trustees have a policy of having a reserve of funds which will cover redundancy, three months of core costs and close down costs, which are estimated to be £81,661. The reserves which stood at £92,667 at the year*nd are close to the required level. Going concern The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties regarding the CharItS ability to do so. RISK MANAGEMENr The Trustees have assessed the major risks to which the charity is exposed, in particular those risks related to the investment strategy- these are included, with mitigating actions, in each iteration of the Business plan as well are reviewed regularly at board meetings. They are satisf5ed that adequate procedures are in place to mitigate exposure to these risks, although it is recognised that systems can only provide reasonable. not absolute, assurance. They have identtfied the following top 4 risks: Risk identified Action taken to mitigate the risk Internal control risks Structured procedures for authorisation of all transaction5 and projects Income generation To promote the Trust and encourage donations via the website and Membership Objectives Regularly review the impact of the Trust Staff Retention/Change To ensure all knowledge is curated and archived and staff report regularly on activity to ensure no knowledge is lost. Related parties and relationships wlth other organisations TEP receives core funding from Thames Water and Essex County Council and therefore works closely with these organisations to achieve sustainability for the Thames.
THAMES ESTUARY PARTNERSHIP ANNUAL REPORT AND ACCOUNTS ST FOR THE YEAR ENDING 31 MARCH 2025 TEP receives substantial project funding from the Environment Agency. There were no other related party transactions during the year {2025: £Nill and there are no balances outstanding with any related parties at the Balance sheet date12025: £Nil} Key management personnel The Board of Trustees and the senior management team comprise the key management personnel responsible for the operation of the charity on a day-to-day basis. No Trustee or Director received renumeration. Details of directors, expenses and related party transactions are disclo*d in notes 5 and 9 on the accounts. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: Selert suitable accounting policies and then applied them consistently; Observe the methods and principles in the Charities 50RP; Make judgments and estimates that are reasonable and prudent; State whether applicable UK Accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time of the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Members The company is limited by guarantee, and the liability of its members is limited to £1. The total number of such st guarantees at 31 March 2025 was 3. The Trustees are members of the Charity, with voting rights, but they have no beneficial i terest in the charity. Jon y, Treasurer Date.. 28 Ianuary 2026
THAMES ESTUARY PARTNERSHIP ANNUAL REPORT AND ACCOUNTS ST FOR THE YEAR ENDING 31 MARCH 2025 REPORT TO THE TRUSTEES OF THAMES ESTUARY PARTNERSHIP I report to the Trustees on my examination of the accounts of Thames Estuary Partnership for the year ended 31 March 2025 which are set out on pages 10- 21. Respective responsibilitles of Trustees and examiner The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirement5 of the Companies Act 2006 {"the 2006 Act"). The Trustees are satisfied that an audit is not required for this year under section 144{2} of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable Directions given by the Charity Commission under section 145{5}Ib} of the 2011 Act. Independent examiner's statement Since the charity's income is in excess of £250,000 your examiner must be a member of a body listed in the 2011 Act. I can confirm that l am qualified to undertake the examination because l am a registered member of ICAEW which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or 4. the account5 have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Richard Weaver FCA Haysmac LLP 10 Queen Street Place London EC4R IAG Date: 30 January 2026
THAMES ESTUARY PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Funds Restricted Funds Total 2025 Total 2024 Note Income from: Charitable activities Other trading activities Investment income Other income 24,187 817,316 841,503 660,360 Total income 24,188 817.316 841,504 660.361 Expenditure on: Raising funds Charitable activities Projects 104,787 104,787 761,441 90,003 550,550 761,441 Total expenditure 104,787 761,441 866,228 640,553 Net income / (expenditure) for the year 180,599} 55,875 124,724) 19,808 Transfers between funds 81,446 181,446) Net movement in funds 847 125,571) (24,724) 19,808 Reconciliation of funds: Total funds brought forward 91,820 100.796 192,616 172,808 Total funds carried forward 92,667 75,225 167.892 192,616 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements. io
THAMES ESTUARY PARTNERSHIP BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes CURRENT ASSETS Debtors Cash at bank and in hand 198,548 70,639 433,351 34,538 269,187 467,889 CREDITORS: amounts falling due within one year {101,295) 1275,273) NEf CURRENT ASSETS 167,892 192,616 TOTAL NET ASSETS 167,892 192,616 FUNDS Restricted funds Unrestricted funds io 75,225 92,667 100,796 91,820 TOTAL FUNDS 167,892 192,616 For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. roved by the Trus 28 January 2026 nds ned on their ehalf by: re tas Jonathan Whitby Treasurer Trustee Company registration no. 3807387 The attached notes form part of the financial statements. li
THAMES ESTUARY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l. Accounting policies a) Basis of preparation The Thames Estuary Partnership is a registered Charity {no 10831991 and a Company Limited by Guarantee (no: 038073871. Registered office: UCL (University College London), 26 Bedford Way, London WCIH OAP. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 -{Charities SORP FRS 102) and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. b) Going concern The accounts are approved during a period where there remains a residual impact on the Charity from the previous financial year due to the COVID-19 virus; consequently, the TEP membership dropped, and core income reduced. At a time when grant funding remains stationary, global events have resulted in sudden increases to costs. The Charity has taken appropriate and swift action to balance operating costs to meet income received, considering risks through its normal risk management processes and mitigating actions both already taken and available to be taken. As such, the Trustees consider it appropriate for the going concern to be adopted for these accounts. The financial statements do not include the adjustments that would result if the charity were unable to continue as a going concern. c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether'capital, grants or'revenue, grants, is recognised when the charity has entitlementto the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met. For legacies, entitlement istaken asthe earlierof the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executorls) to the charity that a distribution will be made, or when a distribution 15 received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. 12
THAMES ESTUARY PARTNERSHIP NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) d) Donatlons of glfts, services, and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteertime is not recognised so refer to the trustees, report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. e) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity- this is normally upon notification of the interest paid or payable by the bank. f) Fund accounting Unrestricted funds are available to spend on activities that further any of the charitable purposes, Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charitls work or for specific projects being undertaken by the charity. g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities include5 the costs of delivering services, exhibitions and other educational activities undertaken to furtherthe purpose5 of the charity and theirassociated support costs. Other expenditure represents those items not falling into any other heading. The Company is not registered for VAT and expenses inflated by VAT cannot be recovered. VAT is charged as a cost against the activity for which the expenditure was incurred. h) Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activitie5. Support cost5 include back-office costs, finance, personnel, payroll, and governance costs which support the Trust5 artistic programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 7. 13
THAMES ESTUARY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (continued) i} Debtor Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. j) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. k) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. l) Estimates and judgements Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable underthe circumstances. Although these estimates are based on the trustee's best knowledge of the amount, events oractions, actual results ultimately differ from these estimates. The trustees do not consider there to be any estimates and judgements. m) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value. 14
THAMES ESTUARY PARTNERSHIP NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2 Comparative Statement of Flnancial Activities 2024 Unrestrlcted Funds Restrirted Funds Total 2024 Income from: Charitable activities Other trading activities Investment income Other income 25,529 634,831 660,360 Total income 25.530 634,831 660,361 Expenditure on: Raising funds Charitable activities Projects 90,003 90,003 550,550 550,550 Total expenditure 90,003 550,550 640,553 Net income / (expenditure) for the year 164,473) 84,281 19,808 Transfers between funds 64,539 164,539) Net movement in funds 66 19,742 19,808 Reconciliation of funds: Total funds brought forward 91,754 81,054 172,808 Total funds carried fonvard 91,820 100,796 192,616 3 Income from charitable activities Unrestrirted Restrlcted Total 2025 Unrestrirted Restricted Total 2024 Core funding Project funding 24,187 24,187 817,316 25,529 25,529 634,831 817,316 634,831 Total income from charitable activities 24,187 817,316 841,503 25,529 634,831 660,360 15
THAMES ESTUARY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 4 Analysis of expenditure Charitable activities Project Support costs Governance Costs Total 2025 Staff costs Other project costs Office costs Finance Other staff costs Governance costs 248,622 512,819 63,941 3,536 316,099 512,819 11,803 1,320 9,450 14,737 11,803 1,320 9,450 14,737 Total 761,441 86,514 18,273 866,228 Support costs Governance costs 86,514 18,273 (86,514) {18,273) Total expenditure 2025 761,441 104,787 866,228 Charitable activities 2024 Project Support costs Governance Costs Total 2024 Staff costs Other project costs Office costs Finance Other staff costs Governance cost5 225,711 324,839 49,674 3,657 279,043 324,839 10,052 2,582 20,424 3,613 10,052 2,582 20,424 3,613 Total 550,550 82,733 7,270 640,553 Support cost5 Governance costs 82,733 7,270 182,733) 17,270) Total expenditure 2023 550,550 90,003 640,553 16
THAMES ESTUARY PARTNERSHIP NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 5 Analysis of stsff costs, trustee remuneratlon and expenses, and the cost of key management personnel Staff costs were as follows: 2025 2024 Salaries and wages Social security costs 288,808 27,291 264,404 14,639 316,099 279,043 No employees received employee benefit {excluding employer pension) during the year. The total employee benefits including pension contributions of the key management personnel were £84,86612024'. £70,652). The charity Trustees were not paid nor received any other benefits from employment with the Trust in the year {2024: £Nill They were not reimbursed expenses during the year (2024: £Nil). No charity trustee received payment for professional or other services supplied to the charity {2024: £Nill. Staff numbers The average number of employees (head count based on number of staff employed) during the year was as follows= 2025 No. 2024 No. Charitable activities There was l employee with emoluments above £60,000 (2023: £60,000). Salary Band 60,001-70,000 70,001-80,000 80,001-90,000 No of employees 6 Taxation Thames Estuary Partnership is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as they fall within the various exemptions available to registered charities. 7 Debtors 2025 2024 Trade debtor5 Prepayment5 Accrued income receivable 61,310 2,252 134,986 340,026 25,796 67,529 198,548 433,351 17
THAMES ESTUARY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 8 Creditors: amounts falllng due wlthln one year 2025 2024 Trade creditors Taxation and social security Other creditors Accruals 33,752 28,681 17,566 21,296 198,677 7,719 28,923 39,954 101,295 275,273 9 Related Party Transactions In the opinion of the directors, the charitable company is not subject to overall control by any party. All previous Charity members including Thames Water, Essex County Council, the Environment Agency, the Port of London Authority, Natural England and the Corporation of London are no longer Charity members. They are Founding Partners with whom we continue to work strategically and at arm's length and we receive funding from for core and restricted purposes. The current Charity members are independent and do not provide funding. Details of Trustee remuneration and expenses are contained within note 5. University College London ("UCL"). whilst not a member of the company, may be said to hold significant influence over the charitable company such as IT services and providing office accommodation to the Partnership without charge. The company is limited by guarantee, and the liability of its members is limited to £1. The company has 4 members (2024: 4 members). 18
THAMES ESTUARY PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10 Movements in funds At the start of the year Income & gains Expenditure & losses At the end of the year Transfers Restricted funds: Roadmap to Climate Resilience Catchment Partnership Fund Compass L Borough of Richmond-JTS Fish Local - Silver shore herring Thames Offshore flood defence 3CS Regenysys 10,490 62,500 15,000 149,7771 319,626 105,292 6,286 349,000 9,389 161,954) 112,499) 119,6051 (271,3001 (46,7751 17,0781 1334,1321 (8,0981 111,036) 12,501) 12631 {48,3261 (1,9041 11,2571 {14,8681 {1,291} 69,645 18,612 2,049 75,225 Total restricted funds 100,796 817,316 (761,441) 181,446) 75,225 Unrestricted funds: General funds 91,820 24,188 {104,787) 81,446 92,667 Total unrestricted funds 91,820 24,188 1104,7871 81,446 92,667 Total funds including pension fund 192,616 841,504 1866,2281 167,892 19
THAMES ESTUARY PARTNERSHIP NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Comparison movements in funds 2024 At the start of the year Income & gains Expendlture & losses At the end of the year Transfers Restricted funds: Roadmap to Climate Resilience Catchment Partnership Fund Compass London Borough of Richmond Fish Local- Silver shore herring Estuary edges Thames Offshore flood defence 3CS 6,150 85,000 12,500 83,586 181,921 51,324 167,160) 112,5001 154,730} {154,795) (51,602) 12,319) 113,500) 10,490 52,476 111,687) (27,126) 11,2051 1141 69,645 20,095 2,333 18,612 2,049 218,451 2,049 {207,444) {11,0071 Total restricted funds 81,054 634,831 1550,5501 (64,539) 100,796 Unrestricted funds: General funds 91,754 25,530 190,0031 64,539 91,820 Total unrestricted funds 91,754 25,530 {90,0031 64,539 91,820 Total funds including pension fund 172,808 660,361 {640,553) 192,616 Purposes of restricted funds Each of the restricted projects to be described in more detail below and explain any transfers. EnvironmentAgency- Roadmap to Climate Resilience- to scope the evolution of the GreaterThames Fish Migration Roadmap to focu5 on data visualisation across the land/sea interface of the urban estuary and rural coast of the Thames Estuary to support coastal habitat restoration, urban intertidal habitat creation and landward green infrastructure along the riverside. Environment Agency - Catchment Partnership - to co-host the Your Tidal Thames Catchment Partnership in collaboration with Thames21 and seek to help improve water quality and create habitat. Environment Agency- Estuary Edges- to develop long term monitoring programme of ecological surveys across the Estuary Edges sites through developing postgraduate student training days and enable the engagement with developers and Local Authorities to secure more Estuary Edge sites as part of riverside development. Environment Agency- 3Cs - to take forward recommendations for a National Framework for Coastal Coordination to improve the governance and coordination across the land/sea interface for the benefit of coastal communities and the marine environment. MMO- Fish Local- to rebrand and improve the sales of a community identified Thames fish species to support local small-scale fishers and the wider industry and promote locally caught fish to reduce carbon emissions and support local food resilience. 20
THAMES ESTUARY PARTNERSHIP NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Environment Agency - Thames Foreshore Project - to develop a public data collection approach to rnonitoring foreshore erosion and accretion that could undermine flood defences at key sites along the urban Thames Estuary. Led by Thames21. Clty Brldge Trust- Blue Connections - a pilot to develop a transferable skills training programme for young people living in deprived, diverse riverside communities utilising the in house soft and hard skills used in delivery of our projects. Aim to increase employability whilst fostering a greater connertion to their local environment through showcasing how these skills are used in ourenvironmental projects with experiential outdoor learning opportunities on the Thames. CGF - Compass and CPN - strategic development of the Coastal Partnerships Network (CPN} to evolve from a volunteer-run network to a professionalised one and develop the Learning and Development programme via Compass, an online learning course covering systems change approaches and values-based approaches to communication. Transfers are made from the restricted fund balances to reflect overhead costs that are agreed to be paid from the funds. 12 Analysis of net assets between funds Restricted Unrestritted Totsl 2025 Restricted Unrestricted Total 2024 Debtors Cash and bank Creditors 198,548 198,548 {4,5861 70,639 1101,295) 1101,2951 433,351 433,351 166,258) 34,538 1275.273) 1275,2731 75,225 100,796 Total net assets 75,225 92,667 167,892 100,796 91,820 192.616 13 Legal status of the charity The charity is a company limited by guarantee and has no share capital. Each member 15 liable to contribute a sum not exceeding £1 in the event of the charity being wound up. 21