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← Wear Rivers Trust

2025-03-31-accounts

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

Charity registration number 1094613 (England and Wales) Company registration number 04260195

WEAR RIVERS TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees N Ashforth
D Hutchinson
D Britton
T Featherstone
K Lawson
M T Siddle
J A Kennedy (Appointed 30 July 2025)
Secretary N Ashforth
Charity number (England and Wales) 1094613
Company number 04260195
Registered office Suite 6a
Kingfisher House
St. Johns Road
Meadowfield Industrial Estate
Durham
DH7 8TZ
Independent examiner David Holloway BA FCA DChA
RMT Accountants & Business Advisors Ltd
Finchdale House
Belmont Business Park
Durham
DH1 1TW

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

CONTENTS

Page
Trustees' report 1 - 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 23

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

The trustees present their report and accounts for the year ended 31 March 2025 (12-month period)

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and the Financial Reporting Standard for Small Entities (2015) Charities SORP.

Objectives and activities

The charitable objectives for which the Wear Rivers Trust (WRT) was established are:

To conserve, protect and rehabilitate and improve the landscape, rivers, streams, water courses and water impoundments of the whole Wear catchment, Co-Durham including Weardale, the middle and lower Wear, all tributaries and adjacent estuarine and coastal areas and waters.

To advance the education of the public, or any association, company, local authority, administrative or government agency in the understanding of rivers, corridors and catchments, including their fauna, economic and social context activity, comprising river catchment management. To provide a greater understanding as to the need and benefits of conservation, protection, rehabilitation, and improvement of aquatic environments.

These objectives must be seen in the context of the global climate change emergency. WRT as part of the national Rivers Trust network, as host of the Wear Catchment Partnership (WCP) is working at the local scale to support the global imperatives of both mitigating and managing the consequences of climate change. WRT promotes and delivers practical measures through the Wear Catchment Management and Action Plans to improve integrated urban and rural land, surface water and groundwater management, sequestering carbon, improving drought resilience, and reducing flood risk.

In accordance with Section 17(5) of the 2011 Charities Act the trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. All activities are undertaken to further our charitable purposes for the public benefit.

The Trust relies on volunteers to collect monitoring data, carry out practical tasks, support educational activities and to develop and manage projects including through local community groups and networks. All volunteer hours are recorded and used as match funding to support funding applications.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and Performance

Sustainable Funding to Deliver Charitable Objectives

The recruitment of a new Chief Executive Officer has provided an opportunity for the Trust to review its strategic direction and organisational priorities. As part of this process, the Trustees have placed increased emphasis on securing sustainable and strategic funding to support the Trust’s activities from 2025 onwards.

In response to a changing external funding environment, the Trust has begun to explore longer term funding models that align with its charitable objectives and enable delivery at a larger, landscape scale. This includes the development of new relationships with strategic funders, public bodies, and delivery partners, alongside the strengthening of existing partnerships. These relationships are intended to support multi-year projects that deliver lasting environmental and community benefits, while providing greater financial stability for the organisation.

The Trustees recognise that reliance on short-term and restricted funding presents a financial risk to the Trust’s long-term resilience. As a result, the Trust’s funding strategy is evolving to diversify income streams, reduce dependency on single funding sources, and improve forward financial planning. This approach is expected to enhance the Trust’s capacity to plan, resource, and deliver complex projects over extended timeframes.

Risk management remains a key consideration in this transition. The Trustees regularly review financial and operational risks, including those associated with funding availability and project scale, and are satisfied that appropriate controls and mitigation measures are in place. The Trust continues to maintain adequate reserves and cash flow forecasting to support its going concern status.

The Trustees believe that this strategic shift positions the Trust well to take advantage of emerging funding opportunities, strengthens its financial sustainability, and supports the delivery of its charitable purposes over the medium to long term.

The Trusts core mission, values and activities are reflected across all media on a daily basis: reducing flood risk, improving water quality and drought resilience, enhancing biodiversity and working with farmers to store carbon and move into Biodiversity Net Gain arenas, all whilst supporting public access and enjoyment of Nature.

The Trust’s website and digital communications platforms are currently under review and development to ensure they effectively reflect the Trust’s priorities, activities, and strategic direction. This work is intended to improve the accessibility and clarity of information for stakeholders, funders, partners, and the wider public, and to better demonstrate the impact of the Trust’s work across the Wear Catchment.

To support this objective, the Trust now employs a Communications Officer who works closely with the Volunteering and Engagement Officer to increase public awareness, engagement, and visibility. This coordinated approach aims to strengthen community involvement, promote volunteering opportunities, and enhance the Trust’s profile through consistent and targeted messaging across digital and social media platforms.

In addition, the Trust employs a Development Manager whose remit includes expanding the Trust’s corporate volunteering offer and strengthening engagement with corporate organisations operating within the Wear Catchment. This activity is focused on building relationships with businesses that demonstrate a commitment to Corporate Social Responsibility (CSR), with the aim of developing mutually beneficial partnerships that support project delivery, increase volunteer participation, and contribute to the Trust’s long-term sustainability.

Deliverables 2024 – 2025

Wear Catchment Partnership

Funded by Defra and Northumbrian Water.

The WCP now benefits from a dedicated Catchment Manager, employed through WRT, to lead the development of the partnership. The Catchment Manager’s role focuses on identifying and coordinating catchment-wide, multipartner projects that have the potential to secure multi-year, strategic funding and deliver impact at a landscape scale. This strengthened capacity ensures that the WCP can plan and deliver larger, more integrated initiatives, fostering collaboration across partners and maximising environmental, social, and community benefits throughout the Wear Catchment.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Links with Nature

Funded by the National Lottery Heritage Fund (NLHF) and Sunderland City Council (SCC)

A key stage 2 delivery project is underway to promote community engagement and participation in habitat creation and improvement across 13 sites in the Sunderland Coalfield area. The project is led by Durham Wildlife Trust, which also administers Heritage Lottery Fund and SCC claims, WRT supporting project coordination.

The project is complex due to the number of sites involved and has faced some funding delays, but Trustees are satisfied that it is on track, with activities proceeding as planned and the budget adhered to. Delivery continues through to March 2026, focusing on habitat management, species monitoring, and practical conservation tasks, engaging local communities and volunteers in stewardship of their natural environment. The project contributes directly to the WCP’s objectives of delivering multi-partner, catchment-scale environmental improvements.

WRT Education Offer

The WRT Education Team delivers a broad programme of catchment-wide environmental education, funded through The Tom Cowie Charitable Trust, Durham County Council, and individual schools. The team continues to work across the Wear catchment, delivering targeted blocks of work in key areas, alongside ad-hoc sessions elsewhere. Schemes of work and curriculum-linked resources have been developed to provide schools with a wider range of lesson ideas, enhancing the delivery of education sessions by WRT officers.

With the creation of WERM, the Education Team aims to develop and market sessions to schools in a more coordinated manner, offering a core educational programme across the catchment. Safeguarding remains a priority, with the Safeguarding Policy renewed and a structured quarterly review process now reported as a standard agenda item at WRT Board meetings.

The team has successfully expanded activity in target areas, including the Gaunless catchment, Stanley (via the SuDS+ project), and Sunderland, while continuing to deliver educational engagement across the wider catchment.

The WRT Education Team has successfully achieved Learning Outside the Classroom (LOtC) accreditation, making WRT the only organisation in the North East offering environmental education activities with this recognition. This accreditation demonstrates the quality and safety of the Trust’s educational provision and significantly enhances WRT’s profile as a viable option for commissioned or paid education activities, supporting financial sustainability and further development of the Education Programme.

Funded by The Sir Tom Cowie Charitable Trust, the Sunderland River Schools programme has continued to grow year on year. From September 2024 to July 2025, fourteen schools received in-school introductory sessions and a Harehope day in Weardale. Expansion of the programme, alongside excellent feedback from participating schools, is a key indicator of the programme’s success.

Stanley SuDS+ Project

Funded by the Flood and Coastal Resilience Innovation Programme via Durham County Council, the Stanley SuDS+ project is now in its third year of a multi-year programme running until March 2027. The project aims to develop an innovative, community-based approach to Sustainable Urban Drainage Systems (SuDS), evaluating community benefits and creating a template with potential for national application.

WRT’s role focuses on community engagement, including consultation on site design, planning for long-term maintenance, and liaising between technical specialists, local businesses, and community stakeholders. The project also delivers River School education sessions to local primary and secondary schools, integrating habitat improvements with a core flood management theme and practical volunteer involvement in the Stanley Burn headwaters.

Through these activities, the project raises awareness of SuDS and the wider water environment while fostering community stewardship, providing a model for sustainable urban water management that is replicable across other communities.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Weardale Abandoned Metal Mines (WAMM) Containment of contaminated sediments from historic metal mines

Funded by Mining Remediation Authority (Formerly The Coal Authority). WRT continues to provide support to the Mining Remediation Authority (MRA) by monitoring discharges from Cambokeels and inspecting and maintaining existing pollution containment installations in the Killhope and Middlehope catchments.

The Trust has completed feasibility studies investigating the ingress of surface water into Park Level Mine at Killhope and Sharnberry Mine, which impacts the water quality of Euden Beck and Bedburn. In addition, WRT continues to support ongoing monitoring along Rookhope Burn.

Working closely with the Environment Agency, the Trust utilises their data to identify prospective projects in collaboration with the MRA, ensuring interventions are targeted, evidence-based, and capable of delivering measurable improvements to water quality across the catchment.

Agricultural Land Management: NEIRF

Funded by Environment Agency.

The Trust has secured a new project funded by the Environment Agency, working with five farmers across the catchment to explore opportunities for carbon credits and attract potential private sector investors. The project aims to improve the financial resilience of the natural environment sector and increase overall funding availability by stimulating investment from the private sector.

Key objectives of the project include:

The project is scheduled to run until March 2026, contributing to the Trust’s broader strategic objective of leveraging innovative funding mechanisms to support long-term environmental delivery at a landscape scale.

WEIF Old Durham Beck

Funded by Environment Agency

The Trust continues delivery of a WEIF-funded project focused on the restoration of Old Durham Beck, with this phase concentrating on land management and enhancing ecosystem services through improved soil health. The project delivers multiple environmental benefits, including improvements to biodiversity, water quality, flood risk management, and drought resilience.

The project also addresses multiple barriers to fish passage identified across the Old Durham Beck system. This project exemplifies the Trust’s approach of combining research-led evidence, practical habitat restoration, and multibenefit ecosystem management to deliver sustainable outcomes across the catchment. The project ended in March 2025.

WEIF Soils Implementation

Funded by the Environment Agency

The Trust has implemented a fish pass on Houselop Beck as part of this project, improving aquatic connectivity and supporting fish populations. This project continues to emphasise the management of agricultural soils, recognised as the single most critical factor affecting multiple ecosystem services, including water quality, as defined under the Water Framework Directive (WFD).

The project builds on existing farmer networks developed through previous WEIF initiatives and Northumbrian Water’s Browney Phosphate Reduction project, delivered over the last eight years. It focuses on two WFD waterbodies: Smallhope Burn (Source to Browney) and Houselop Beck (Source to Wear), both of which have probable or confirmed River Network Action Groups (RNAGs) relating to agricultural impacts.

Through habitat restoration, soil management interventions, and engagement with the farming community, the project delivers multiple ecosystem benefits, including improved biodiversity, water quality, flood risk mitigation, and drought resilience, while creating a model for replicable, research-led catchment management.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Local Nature Recovery Strategy

Funded by Durham County Council

The Durham Local Nature Recovery Strategy (LNRS) provides a framework for prioritising nature’s needs at a local and targeted level. The strategy acts as a blueprint for the recovery of biodiversity, identifying opportunities to support wildflower grasslands, woodlands, wetlands, and new hedgerows across County Durham.

The LNRS will guide and focus funding from a variety of sources, including the government’s Biodiversity Net Gain policy, Environmental Land Management (ELM) schemes, and other cross-sector or private funding streams, such as those for woodland creation, natural flood management, and species-specific projects.

WRT is leading the Rivers and Running Waters and Wetlands subgroup, working to establish priorities, measures, and mapping to inform the strategy. The LNRS is scheduled for publication in April 2026, providing a clear roadmap for nature recovery and strategic investment across the county.

Wear Invasive Non-Native Species Projects

Funding: Postcode Local, Durham University, NWG Branchout, Durham Cathedral, City of Durham Parish Council, Durham Wildlife Trust, Durham Area Action Partnership

WRT continues to engage at the regional level, coordinating activity with other rivers trusts from the Tweed to the Tees. Within the Wear catchment, active management is focused on priority areas, particularly in the headwaters of Upper Weardale, as well as the Browney and Gaunless catchments, aligning with wider farm and habitat improvement initiatives. Invasive species management also provides a strong community engagement opportunity, particularly through the Stanley SuDS+ project.

Pittington Beck, in the upper Old Durham Beck system, has been identified as a key source of Giant Hogweed, which supplies seed leading to infestations throughout the Durham Peninsula World Heritage Site and downstream to Sunderland. WRT continues to work closely with local landowners to treat source areas, with significant and ongoing support from multiple funders. The Trust continually seeks additional funding streams to enable comprehensive management of invasive non-native species from the top of the catchment to the sea, maximising impact and supporting the long-term health and resilience of the river system.

Thriving Catchments

Funded by Northumbrian Water Group (NWG) and The Rivers Trust (RT)

Thriving Catchments is a strategic partnership between Northumbrian Water and The Rivers Trust. This initiative focuses on delivering wastewater treatment outcomes through natural and catchment-based solutions, providing multiple benefits including improved water quality, enhanced biodiversity, and benefits for local communities.

WRT has been actively involved since September 2023. During this time, WRT has supported the development of proposals for catchment activity and helped build regional capacity and capability to deliver projects across the North East, that contribute to the achievement of Water Framework Directive (WFD) ‘Good’ Status for phosphate and nutrient neutrality.

Delivery activities were led collaboratively by Northumbrian Water and The Rivers Trust, with support from key stakeholders such as the Tees, Tyne and Wear Rivers Trusts and Durham Wildlife Trust. Engagement with regional stakeholders and communities was a central component, fostering strong collaborative approaches and participatory community involvement in catchment management.

Although Thriving Catchments will not continue beyond a three-month extension to June 2025, WRT’s strong relationship with Northumbrian Water will allow the identification of alternative projects funded through other NWL schemes, ensuring that the positive impacts and benefits achieved to date can continue.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Bluespaces Programme: Old Durham Beck, Cut Throat Dene and Gaunless and Hummerbeck

Funded by Northumbrian Water Group (NWG)

Bluespaces projects deliver multi-benefit catchment improvements, combining habitat enhancement, water quality improvement, and community engagement. A key component of these projects is making water bodies more accessible to the public, through improved access, waymarking, and pathways, enabling local communities to enjoy and connect with their local rivers and wetlands.

The Bluespaces Gaunless Hummerbeck project has been recognised as the best Bluespaces project in 24/25, with WRT receiving an award at a Northumbrian Water celebration event in late 2025. This project demonstrates the Trust’s success in delivering:

Bluespaces initiatives are designed to provide integrated environmental and social benefits, including:

Through these initiatives, WRT demonstrates a model of integrated catchment management, successfully combining practical interventions, strategic partnerships, and public engagement, while making rivers and wetlands accessible, educational, and enjoyable for local communities. The Trust will continue to submit future funding bids to the Bluespaces programme to further enhance the waterbodies in the catchment.

Gaunless – Auckland Castle Feasibility Study

Funded by The Auckland Project

WRT is working with The Auckland Project on a feasibility study of the River Gaunless as it passes through the Deer Park at Auckland Castle. The study aims to identify opportunities to enhance the watercourse, improving visitor experience and enjoyment of the castle and its grounds.

This initiative forms part of a broader, multi-faceted plan for the Gaunless, including:

Through these combined efforts, WRT is integrating habitat enhancement, heritage conservation, and public engagement, ensuring the Gaunless delivers multiple environmental, recreational, and cultural benefits.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

Incoming resources for the year (12 month period) were £832,160 (2024: £579,839). Total reserves for the year £112,154 (2024: £118,981), of which £51,284 (2024: £46,917) related to unrestricted reserves and £60,870 (2024: £72,064) was restricted.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to 6 months’ average expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The level of reserves has fallen below the target. Significant work has been undertaken in the current financial year to build free reserves and the trustees are confident that the target will be met in 2026/2027.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the companies act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

N Ashforth D Hutchinson G A Bell (Resigned 29 January 2025) D Britton T Featherstone K Lawson M T Siddle J A Kennedy (Appointed 30 July 2025)

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Organisational structure

Trustee and Director Succession, Contingency, Resilience and Team Structure. Partnership Working

The chair of Trustees Graham Bell retired from the Board in January 2025, Michael Siddle took over as Chair of Trustees in January 2025.

The Trust’s new Chair is committed to strengthening governance and leadership capacity in 2025. Key priorities include:

These initiatives are being undertaken in line with the renewed strategy of the Chief Executive Officer, as set out in the reviewed business plan, ensuring the Trust is well-positioned to deliver its objectives effectively, manage risk, and maintain public and stakeholder confidence.

Peter Nailon the Strategic Funding Director (previously Director) fully retired on 30[th] June 2024 with Kirstie Hutchinson taking over as Chief Executive Officer on 1[st] July 2024 from her previous role of Chief Operating Officer. Paul Atkinson has been appointed as Deputy Chief Executive Officer.

The staff team continues to be fully home based, the Trust however as an office hub based in Durham for staff to use for meetings or working together. It is encouraged that all staff work in the office at least one day per week.

The Trust continues to retain staff at a 100% rate; this is helped by TOIL and an EDI and Mental Health Initiative introduced.

The Trust outsources external support to assist with the management of Information Technology security, maintenance and development, Human Resources and Health & Safety Management. This approach has made available specialist expertise not available internally from within the staff team, proved to be cost effective and has enabled the Trust to concentrate WRT resources and focus its own key organisational objectives and specialist areas of expertise.

A new Project Management Software package Coretime has been introduced in late 2024 to enable the effective running of projects financially and delivery of objectives. The system continues to be developed so it is fully functional in the new financial year.

The Trust continues to promote partnership working, primarily through the Wear Catchment Partnership (WCP). The WCP has a dedicated staff member working as a Catchment Manager to develop the WCP, funded by CaBA.

A wholly owned company Wear Environmental Resources Management (WERM) continues to be developed to deliver environmental works on a commercial rather than grant basis for the coming financial year. All profits arising will be donated to the Wear Rivers Trust.

The Trust has updated its 5-year Business plan 2025 to 2030, consolidating its purpose, values, governance & structure, aims & objectives, forecast activity and funding.

The trustees' report was approved by the Board of Trustees.

.............................. 5D1F6396D9D7459... N Ashforth

Trustee

21 December 2025

Date: .............................................

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WEAR RIVERS TRUST

I report to the trustees on my examination of the financial statements of Wear Rivers Trust (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

David Holloway BA FCA DChA

RMT Accountants & Business Advisors Ltd

Finchdale House

Belmont Business Park

Durham

DH1 1TW

22 December 2025

Date: ............................

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
9,721
-
Charitable activities
4
62,244
758,868
Investments
5
1,327
-
Total income
73,292
758,868
Expenditure on:
Charitable activities
6
68,925
770,062
Total expenditure
68,925
770,062
Net income/(expenditure) and
movement in funds
4,367
(11,194)
Reconciliation of funds:
Fund balances at 1 April 2024
46,917
72,064
Fund balances at 31 March
2025
51,284
60,870		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
9,721
31,962
-
821,112
26,691
517,690
1,327
3,496
-
832,160
62,149
517,690
838,987
89,668
525,392
838,987
89,668
525,392
(6,827)
(27,519)
(7,702)
118,981
74,436
79,766
112,154
46,917
72,064		 Total
2024
£
31,962
544,381
3,496
579,839
615,060
615,060
(35,221)
154,202
118,981

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 12 17,930 21,308
Investments 13 1 1
17,931 21,309
Current assets
Debtors 14 181,712 121,844
Cash at bank and in hand 43,453 24,237
225,165 146,081
Creditors: amounts falling due within 15
one year (130,942) (48,409)
Net current assets 94,223 97,672
Total assets less current liabilities 112,154 118,981
The funds of the charity
Restricted income funds 16 60,870 72,064
Unrestricted funds 17 51,284 46,917
112,154 118,981

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

21 December 2025

The financial statements were approved by the trustees on .........................

[hur mit by:

.............................. 5D1F6396D9D7459... N Ashforth

Trustee

Company registration number 04260195 (England and Wales)

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash used in investing activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(4,840)
-
1,327		 £
22,729
(3,513)
-
19,216
24,237
43,453		 2024
£
(9,940)
930
3,496		 £
14,601
(5,514)
-
9,087
15,150
24,237

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Wear Rivers Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 6a, Kingfisher House, St. Johns Road, Meadowfield Industrial Estate, Durham, DH7 8TZ.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The level of reserves has fallen below the target. Significant work has been undertaken in the current financial year to build free reserves and the trustees are confident that the target will be met in 2026/2027.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be qualified with reasonable accuracy. The following specific policies are applied to particular categories of income.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

WEAR RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% straight line Fixtures and fittings 10% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured cost, and are subsequently measured at cost less accumulated impairment loss. Any impairment is recognised in the statement of financial activities.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Income from donations and legacies

Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 9,721 31,962
Income from charitable activities
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Conservation and protection
Grants 62,244 758,868 821,112 26,691 517,690 544,381

4 Income from charitable activities

Performance related grants analysis

Conservation
Conservation
and
and
protection protection
2025 2024
£ £
The Environment Agency 200,302 102,582
Durham County Council 197,365 199,342
Northumbrian Water Group Limited 151,390 116,144
The Coal Authority 49,261 26,691
John Muir Trust 6,500 -
North East Community Forest 5,034 -
Pryer and Ricket 1,125 -
Sunderland City Council 17,373 -
Tom Cowie Foundation 35,621 20,084
Durham Wildlife Trust 132,083 17,332
Tees Rivers Trust 9,600 -
The Auckland Project 15,458
The Rivers Trust - 4,548
Interreg North Sea Region Topsoil Project - 14,965
North Pennines AONB Partnership - 31,957
Innovate - 10,736
821,112 544,381

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 1,327 3,496

6 Expenditure on charitable activities

Conservation Conservation
and protection and protection
2025 2024
£ £
Direct costs
Staff costs 601,153 382,824
External services 48,376 82,597
Materials, repairs and renewals 68,766 52,015
718,295 517,436
Share of support and governance costs (see note 7)
Support 120,692 97,624
838,987 615,060
Analysis by fund
Unrestricted funds 68,925 89,668
Restricted funds 770,062 525,392
838,987 615,060
Support costs allocated to activities
2025 2024
£ £
Depreciation 8,218 7,254
Project overheads 109,920 88,077
Sundry 34 13
Governance costs 2,520 2,280
120,692 97,624
Analysed between:
Conservation and protection 120,692 97,624

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 2,520 2,280
Depreciation of owned tangible fixed assets 8,218 7,254

9 Trustees

None of the trustees (or any persons connected with them) received any expenses, remuneration or benefits from the charity during the current or prior year.

10 Employees

The average monthly number of employees during the year was:

Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,001 to £70,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2025
Number
21
2025
£
523,104
49,117
28,932
601,153
2025
Number
1
2025
£
97,140		 2024
Number
15
2024
£
327,841
33,766
21,217
382,824
2024
Number
1
2024
£
125,105

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12 Tangible fixed assets
Plant and Fixtures and
Total
equipment fittings
£ £ £
Cost
At 1 April 2024 32,886 3,675 36,561
Additions 3,455 1,385 4,840
At 31 March 2025 36,341 5,060 41,401
Depreciation and impairment
At 1 April 2024 14,461 792 15,253
Depreciation charged in the year 7,918 300 8,218
At 31 March 2025 22,379 1,092 23,471
Carrying amount
At 31 March 2025 13,962 3,968 17,930
At 31 March 2024 18,425 2,883 21,308
13 Fixed asset investments
Other
investments
£
Cost or valuation
At 1 April 2024 & 31 March 2025 1
Carrying amount
At 31 March 2025 1
At 31 March 2024 1
2025 2024
Other investments comprise: Notes £ £
Investments in subsidiaries 20 1 1
14 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 50,366 40,202
Amounts owed by fellow group undertakings 4,382 12,852
Prepayments and accrued income 126,964 68,790
181,712 121,844

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income		 2025
£
97,109
31,343
2,490
130,942		 2024
£
27,967
17,952
2,490
48,409

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
CaBa - 15,000 (13,049) 1,951
Wear INNS Management Plan EEU 5,597 25,000 (30,550) 47
Education and Riverfly - 6,500 (6,168) 332
Cool Waters 673 - (673) -
DCC - Stanley Sustainable Drainage System 516 164,566 (161,517) 3,565
Stanley Burn Twizell Volunteering project 661 - - 661
Sir Tom Cowie Charitable Trust 343 35,621 (31,023) 4,941
RT NWL Partnership 1,694 146,390 (147,220) 864
Chester le Street AAP 5,255 - - 5,255
Citizen Science and Riverfly 4 5,000 (2,144) 2,860
NWL Bluespace - Old Durham Beck 6,053 - (4,987) 1,066
DWT / SCC Linked Together 303 132,083 (131,174) 1,212
Weardale FFF 1,677 - - 1,677
John Muir Gaunless Reconnected 1,468 - (213) 1,255
WEIF Soils EA 1 95,000 (95,001) -
Bluespaces NWL - South Burn 3,451 - (3,247) 204
Bluespaces NWL - Cut Throat Dene 13,550 5,000 (15,890) 2,660
Priority Habitats NWL - Beechburn 23,716 - (17,669) 6,047
Bluespace NWL - Hummerbeck and Gaunless 6,784 - (4,233) 2,551
Volunteering and Engagement 319 - - 319
WEIF ODB - 66,000 (66,000) -
WRT Tree Planting - 5,034 (4,080) 954
NFM Studies - 884 - 884
INNS and Wetlands - 12,373 (6,845) 5,528
Durham LNRS - 6,915 (3,548) 3,367
NEIRF - 27,902 (24,831) 3,071
Regional INNS - 9,600 - 9,600
72,064 758,868 (770,062) 60,870

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16 Restricted funds (Continued)
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
Carbon Connects - 14,965 (14,965) -
Weardale Natural Flood Management 6,188 - (6,188) -
CaBa - 15,000 (15,000) -
Wear INNS Management Plan EEU 5,252 32,350 (32,005) 5,597
Education and Riverfly 1,660 - (1,660) -
Cool Waters 6,084 2,663 (8,074) 673
Browney RDP (Crook EEU) 17,546 - (17,546) -
DCC - Stanley Sustainable Drainage Systems 3,174 113,612 (116,270) 516
Stanley Burn Twizell Volunteering Project 5,365 - (4,704) 661
Sir Tom Cowie Charitable Trust 1,654 20,084 (21,395) 343
RT NWL Partnership - 26,902 (25,208) 1,694
Chester le Street AAP 5,889 - (634) 5,255
Citizen Science and Riverfly 201 4,548 (4,745) 4
NWL Blue Space - Old Durham Beck 14,271 6,700 (14,918) 6,053
DWT / SCC Linked Together 3,594 49,288 (52,579) 303
Weardale FFF 128 7,427 (5,878) 1,677
NWL Blackdene - 4,852 (4,852) -
Fun & Food 2,361 21,952 (24,313) -
John Muir Gaunless Reconnected 6,400 16,001 (20,933) 1,468
WEIF Soils EA - 25,409 (25,408) 1
WEIF Old Durham Beck EA - 29,511 (29,511) -
Bluespaces NWL - South Burn - 10,000 (6,549) 3,451
Bluespaces NWL - Cut Throat Dene - 23,500 (9,950) 13,550
Priority Habits NWL - Beechburn - 30,000 (6,284) 23,716
Bluespaces NWL - Hummerbeck and Gaunless - 14,190 (7,406) 6,784
Innovate - Agri Plastics - 10,736 (10,736) -
Volunteering and Engagement - 8,000 (7,681) 319
WEIF Beechburn Beckons - 30,000 (30,000) -
79,766 517,690 (525,392) 72,064

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
General funds 46,917 73,292 (68,925) 51,284

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Unrestricted funds (Continued)
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 74,436 62,149 (89,668) 46,917
18 Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Tangible assets 17,930 - 17,930
Investments 1 - 1
Current assets/(liabilities) 33,353 60,870 94,223
51,284 60,870 112,154
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 21,308 - 21,308
Investments 1 - 1
Current assets/(liabilities) 25,608 72,064 97,672
46,917 72,064 118,981

19 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

Docusign Envelope ID: 85F16AB8-AFAB-44AE-8BB4-4482C072FA41

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20 Subsidiaries

These financial statements are separate charity financial statements for Water and Environmental Resources Management Limited

Details of the charity's subsidiaries at 31 March 2025 are as follows:

Name of undertaking Registered Nature of business Class of
% Held		 Class of
% Held
office shares held
**Direct **		 Indirect
Water and environmental Finchale House, Environmental consulting Ordinary
100.00
resources management Belmont activities
Limited Business Park,
Durham,
England, DH1
1TW
Cash generated from operations 2025 2024
£ £
Deficit for the year (6,827) (35,221)
Adjustments for:
Investment income recognised in statement of financial activities (1,327) (3,496)
Depreciation and impairment of tangible fixed assets 8,218 7,254
Movements in working capital:
(Increase)/decrease in debtors (59,868) 10,524
Increase in creditors 82,533 35,540
Cash generated from operations 22,729 14,601

21 Cash generated from operations

22 Analysis of changes in net funds

The charity had no material debt during the year.