THAMES21 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 1 APRIL 2023 TO 31 MARCH 2024 Jk
Contents Page Governance and Structure Chair's Statement Directors Report Independent Auditor's Report 34 Statement of Financial Activities 38 Balance Sheet 39 Cash Flow Statement 40 Notes to the Financial Statements 41-56
GOVERNANCE AND STRUCTURE Legal Structure Thames21 Limited is incorporated as a private company limited by guarantee and as a registered charity. The company was incorporated on 5 December 2003 and started operating on 1 July 2004. Registration A Company Limited by Guarantee Company Registration Number: 4985828 Charity Registration Number.. 1103997 Registered Office London River House Royal Pier Road Gravesend Kent DA12 2BG Principal Office City of London Corporation The Guildhall Aldermanbury London EC2V 7HH Board of Trustees Michelle Asantewa (resigned March 2024) Martin Wayne Baggs Howard Timothy Davidson Tanya Ferry (resigned June 2023) Charles Green Michael John Hamilton (Chairman) - Deceased July 2023 Laura Littleton Mary Louise Moore Andrew Mcmurtrie (resigned June 2023) Robin John David Mortimer (resigned June 2023) Grace Rawnsley (appointed June 2023) Katherine Riggs (Interim Chair appointed July 2023) Henrietta Priest (appointed Oct 2023) Fabian Sheedy Darren White Charlotte Woods
Company Secretary Paul Johnston Finance Committee Michael Hamilton (deceased) Howard Timothy Davidson Martin Wayne Baggs Katherine Riggs Paul Johnston Fundraising Board Michael Hamilton (deceased) Martin Wayne Baggs Darren White Katherine Riggs Charles Green Kate Gibson Advisory Council Sir Peter Bazalgette Kate Gibson Justine Duggan Adrian Whyle Management Board Deborah Leach Chris Coode Chief Executive (resigned July 2023) Deputy Chief Executive and Head of Education & Engagement (appointed CEO July 2023) Head of Improving Rivers Head of HR Head of Finance & Operations Head of Fundraising John Bryden Adam Gardner Piyal de Silva Alison Archer Principal Professional Advisors Legal Advisors Bankers Hogan Lovells National Westminster Bank LLP St Paul's Branch Atlantic House Juxon House Holborn Viaduct 98 St Paul's Churchyard London London EC4M 8BU EC1A 2FG Insurance Brokers Griffiths and Armour Drury House 19 Water Street Liverpool L20RL Audltors Price Bailey LLP 24 Old Bond Street London W1S4AP
CHAIR'S STATEMENT This year has been a period of significant growth and change for our charity. London's rivers and the Thames face enormous challenges, but the need for healthy rivers has never been greater. They are crucial in mitigating the effects of climate change, protecting communities from floods and droughts. and supporting ecosystem and biodiversity resilience. Thames21 continues to meet these challenges while also laying stronger foundations for future impact. We've made great strides in implementing our Five-year Plan, from successfully completing critical river restoration projects to expanding our community engagement and educational programmes. Our efforts are focused on building resilient rivers and empowering communities to advocate for their local environments. A key highlight of this year has been our enhanced capacity to deliver impactful projects. Strengthening our internal systems financial management, fundraising, human resources, and communication has positioned Thames21 for sustainable growth in the years ahead. Our achievements are a testament to the dedication and passion of our staff, volunteers, and partners. Their hard work has not only driven our success this year but also prepared Thames21 for even greater accomplishments in the future. As we look ahead, l am confident that Thames21 will continue leading the way in river conservation and community engagement. We will advocate for policies that safeguard our rivers and pioneer solutions for a future where our rivers are not only clean and resilient but also central to vibrant, sustainable communities. Thank you for your unwavering support and commitment to Thames21. Together, we can continue making a difference. Katherlne Rlggs Chair
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Organisation, Structure and Management The charity is governed by the Trustees (who are also Directors) who ensure that it is solvent, well- run and delivers its charitable purpose. The Trustees lead the charity's strategic direction and delegate day-to-day operational decisions to the Chief Executive and management team. Board Meetings are held every three months. Thames21 works across various channels to recruit Trustees such as Reach. Charity Job and on our own website. We are currently working on formulating a structured induction process for Trustees. At present we invite new Trustees who join to come in and meet with various staff members to deepen their knowledge of Thames21. The pay structure for our project staff is updated each year to take into account the annual inflation increases and is awaiting review by the Senior Management Team. HR is currently working on the pay structure for Core staff and will be reviewed by the SMT in the Autumn. Decisions made by the Board are supported by Committees with specific roles, each reporting to the main Board: . The Finance Committee: reviews the charities finances and make recommendations to the main Board with a particular focus on setting the budget for the coming year, remuneration and reviewing audit progress. The Fundraising Board: aims to ensure the charity's continued operation and further development by improving its financial position, increasing focus on fundraising throughout the organisation and by agreeing and participating in delivering fundraising strategies and plans. The Advisory Council: provide advice, guidance, and support to help the charity achieve its goals. Council member offer their knowledge, skills, or connections in various fields to help the charity make better decisions, improve its impact, and expand its reach. Thomes21 worked with Eost London 5 diverse communities on o citizen science project by the River Leo eorlier this yeor.
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Trustees, Responsibilities The trustees (who are also directors of Thames21 Limited for the purposes of Company Law) are responsible for preparing the Trustees, Annual Report and the financial statements 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 period. Under company law the Trustees must not approve the financial statements unless they are satisfied that they 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 income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees were required to: select suitable accounting policies and then apply them consistently. make judgements and accounting estimates that are reasonable and prudent. observe the methods and principles in the Charities SORP 2019 (FRS 102). state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: There is no relevant audit information of which the charitable company's auditor is unaware., and The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Small Company Exemption In preparing this Directors, Report, the Trustees have taken advantage of the special provisions for small companies under section 415(A) of the Companies Act 2006 and have elected not to include detailed information under their business review, not to provide disclosures relating to the use of financial instruments and principal risks or uncertainties. Public Benefit Statement The Trustees have complied with the duty in Section 17 of the Charities Act 2011 in having due regard to the public benefit guidance published by the Charity Commission. Risk Management A strategic analysis of potential risks to Thames21 is conducted annually, focusing on Governance, Finance, Operations, Regulatory and Compliance. and External factors. Using a detailed Risk Register risks are assessed risks using a scoring system that cross-references likelihood with
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 potential impact. This allows for the prioritisation of issues requiring action. Mitigation measures are identified to reduce these risks. The Risk Register is reviewed every six months to assess progress on the mitigation measures. The highest-scoring risks identified during the year were: high competition for funding, capacity to plan for long-term financial stability, and data management processes. Mitigation measures are underway to address these risks. Role of Volunteers Communities are vital in helping Thames21 achieve its vision of healthy, sustainable rivers. Volunteers take direct, practical action in Thames21 projects by improving rivers through habitat creation and restoration, litter removal, river health monitoring. and advocacy for change. The charity also trains and supports volunteer leaders. building a neIOrk of independent Thames21 River Action Groups. These groups respond directly to local needs, expanding the scope and impact of activities that support the charity's goals and vision. Health & Safety Thames21's Health & Safety Policy outlines the principles to be followed, requiring strict adherence to detailed Standard Operating Procedures. These procedures are regularly reviewed to ensure they remain current, relevant, and fit for purpose, reflecting the charity's evolving activities. The new Operations Manager, in collaboration with the Head of HR, is working with a dedicated Health & Safety Group to enhance processes and procedures related to project delivery. where the greatest risks are present. Additionally, a review and training in Construction Design and Management (CDM) Regulations has been implemented to support Thames21's increased involvement in larger-scale river restoration projects. All accidents, near misses, and incidents are recorded, assessed, and reported at quarterly Board meetings, where any trends over time are analysed. Policy for the Welfare of Children, Young People and Vulnerable Adults Thames21 understands its duty of care to safeguard and promote the welfare of children, young people and vulnerable adults and is committed to ensuring that safeguarding practice reflects statutory responsibilities, government guidance and complies with best practice. The charity's policy recognises that the welfare and interests of children, young people and vulnerable adults must prevail in all circumstances. Thames21 recognises that some children and adults can be particularly vulnerable to abuse and accepts responsibility to take appropriate steps to ensure their welfare. We aim to ensure that all children, young people and vulnerable adults have a positive experience whilst taking part in Thames21 activities and are protected from abuse regardless of age, gender identity, religion or beliefs, ethnicity, disability, sexual orientation or socio-economic background. Policy on Bribery Thames21 is committed to always acting in an ethical and honest manner and will behave professionally and fairly in all dealings and relationships. Thames21 has zero-tolerance for bribery and corrupt activities and is committed to implementing and enforcing systems that ensure bribery is prevented. Thames21's policy sets out responsibilities for observing and upholding the charity's position. It acts as a source of information and guidance for those working for Thames21. It helps everyone to recognise and deal with bribery and corruption issues, as well as to understand their responsibilities.
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Privacy Policy Thames21 is committed to protecting the privacy and security of all those involved in the charity's work and to complying with the General Data Protection Regulation law changes of 25th May 2018. The charity will never sell personal data, and only use it for the purpose or purposes it was collected for (or else closely related purposes). Public benefit and objectives '*• Himalayan bGlsom bash event on the River Cray with volunteer5 Q5 part of London River5 Week in May 2023. Thames21 was established to protect, maintain and enhance the nation's rivers, canals and associated features. This is achieved by: a) Removing litter, waste and debris., b) Advancing education in the plants, wildlife and ecosystems of the waterways and other related subjects by teaching, producing materials and by conducting or commissioning research (and publishing the results)., Raising awareness of the ways in which the waterways might be protected from pollution and improved for the benefit of the people and wildlife in particular by the use of publications, lectures, the media, public advocacy and other forms of communication. We rely upon the river network to provide the water for our daily lives, the economy and for the natural world around us. Today the river network faces growing challenges from the climate emergency to loss of biodiversity to the devastating impacts of pollution and waste. Thames21's work to protect, maintain and enhance rivers is intended as a practical, effective response in which all sectors of our society and community can participate.
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 How the charity achieves its objectives Thames21 achieves its mission through three interconnected areas of activity. often delivered within the same project.. Improving Rivers, Engagement & Learning. and Inspiring Change. with a strong focus on community-driven solutions, stakeholder collaboration, and long-term sustainability. Improving Rivers." Thames21 addresses key issues such as pollution, water scarcity, and flood risk through research, monitoring, and environmental analysis. The charity collaborates with partners to implement effective solutions, from river restoration to natural flood management, enhancing water quality and biodiversity. Additionally, Thames21's work strengthens climate resilience by reducing flood risks and helping rivers adapt to a changing climate. Engagement and Learning: Thames21 empowers communities to protect their local rivers by providing training, citizen science programs, and volunteering opportunities. The charity builds local capacity by helping residents form independent River Action Groups, allowing them to take sustained action in their own neighbourhoods. These efforts not only improve river health but also reconnect people with nature, improve well-being, and reduce social isolation. Inspiring Change: Thames21 plays a key role in advocating for healthier rivers by fostering discussion and raising awareness about the environmental challenges facing waterways. Through data-driven insights and citizen science, Thames21 influences policy at local and national levels, educating decision-makers and the public on river health issues. The charity's advocacy helps drive long-term policy shifts and inspire changes in public behaviour.
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 What the charity aimed to achieve 23124 CEO Chris Coode speoking ot Tideway Tunnel event in July 2023. The charity's key aims and focus for the twelve-month period ending 31 March 2024 were to: Strengthen the charity's internal systems and functions, positioning it for growth. Develop and expand the charity s in-house fundraising capabilities to ensure organisational resilience. Commence and advance the implementation of the charity's new Five-year Plan. Create and execute delivery plans aimed at increasing benefits for rivers and communities throughout the Thames River Basin. Continue to develop Thames21's role as a leading advocate for river conservation and health. Further engage with existing and potential new funders to support long-term delivery targets for the next five years. Implement a strategic training and development program at Thames21 to support the delivery of the Five-year Plan. Strengthening the charity's internal systems and functions to Position it for growth Over the past year, Thames21 has focused on reinforcing its internal systems and functions to allow for future growth. This strategic emphasis on core development encompasses several key areas, including finance. human resources, communication. and fundraising, which collectively enhance the charity's operational efficiency and resilience. Financial Stability and Strategic Investments Thames21 has ensured its financial stability by securing significant investments to bolster core functions. The investment in essential core positions, including a Head of HR, a Finance Officer, a CRM Database Manager, a Corporate Partnerships Fundraising Manager, and a Trusts & io
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Foundations Fundraising Manager, has demonstrated its benefits this year as we aim to sustainably grow Thames21's operational capacity. As part of this financial strategy. Thames21 has also reviewed its core budget to gain better insights into spending, investment needs, and fundraising requirements, ensuring sustainable growth is aligned with the Five-year Plan targets. Enhancing Human Resources Recognising the critical role of its staff, Thames21 has implemented measures to support and manage its Team more effectively. Thames21 has launched an Employee Assistance Programme and engaged law firm to review and update key policies and the staff handbook, further supporting its team Improving Communication and IT Systems Thames21 has made substantial improvements in its internal communication and IT systems. The migration of digital information to SharePoint and work to identify a new Customer Relationship Management (CRM) system are significant steps towards enhancing internal and external communication, reporting, stakeholder management, and fundraising efforts. Fundraising and Organisational Resilience A strengthened and diversified fundraising team not only supports the fundraising efforts of project officers but also plays a pivotal role in funding for the long-term resilience of Thames21. By focusing on diversifying funding streams and securing core funding, the organisation can ensure that it remains agile and can take advantage of new opportunities, such as those arising from Biodiversity Net Gain legislation and other emerging green markets, while maintaining the stability needed to thrive over the long term. Leadership and Governance Thames21 is also committed to strengthening its leadership and governance structures. This involves reviewing and improving governance systems, including risk management, board processes and committee functions. The recruitment of a new Chair of the Trustees and the development of a governance roadmap are key steps in this direction. Through these concerted efforts to enhance its internal systems and functions, Thames21 is well- positioned to achieve its strategic goals, expand its impact, and continue to serve as a leading advocate for rivers and communities within the Thames River Basin. li
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Delivering the Five-year Plan 2023-4 Crealed Worked with communities on SUDS schemes 18 rwer Irainin9 courses Inspired new constructed wetlands 3,848 flood restlience schemes school pupils Restored 4.5 km Planted river 8,100 ¢e5 Collectèd evidence in Involved OelNèred 12.392 Improved li5h passage at river calchmenls to drive and deliver better w8ler quality people In volunteering and other aclivitios Natural Flood Managemenl schemes site$ In the second year of Thames21's Five-year Plan, we've made significant strides in addressing the climate crisis and the nature emergency affecting our rivers. This year, we focused on enhancing project delivery and operational capacity to ensure our efforts are both effective and sustainable. By engaging local communities and partner organisations, we've ensured our project are closely aligned with broader environmental goals and community needs. A key focus remains integrating our technical river and water quality improvement projects with community engagement and co-design programs. This approach not only strengthens the impact and sustainability of our environmental efforts but also delivers social benefits such as improved health, well-being, and community cohesion. We've also made substantial progress in workforce planning, aligning staffing with the ambitious targets set for Year 5. This forward planning has enabled better forecasting of the charitable funding required to support our growth. Investments in key roles, particularly in human resources and fundraising. have been instrumental in driving this expansion. As we build on this year's successes, our priorities remain clear as we continue working towards our long-term goals. 12
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Tackling the impacts of climate change and the nature emergency by developing resilient rivers and communities Significant progress towards delivering the 5-year plan targets has occurred in 2023124. Some targets-such as the number and variety of catchment scale monitoring programmes, collaboration with statutory organisations to deliver flood resilien, and fish barrier removal have already exceeded expectations. Sustaining delivery in these areas will be key while continuing to develop other areas. Other targets have made good progress, including improving river habitats and identifying and quantifying pollution with a view to enabling solutions. However, further work is needed to continue developing these initiatives. There are two areas where the team hasn't started delivery.. Chalk Stream Restoration and working with farmers to reduce pollution, abstraction, and flood risk. The latter has made good progress with significant relationships built and projects and programmes identified. The chalk stream target is perhaps our most difficult to deliver because we currently don't host a catchment partnership area with chalk streams in them. This has been discussed with the trustees, who agreed it's a good target to retain, and we need to develop a mechanism to deliver on this area in future years. Project showcase: Water treatment wetlands The River Restoration and Evidence teams have been involved in the delivery of four constructed wetlands this past year. These were installed with the aim of improving water quality and reducing flood risk by holding water in the landscape and slowing its flow into the river. Two wetlands were delivered in conjunction with Enfield Council in Oakwood Park and Wilbury Way, funded by Coca- Cola. The latter has won the Susdrain Award for Large Scale Retrofit. n Russell, Enfield & Sam Bentley-To Thames21 Thomes21 ond its portner Enfield Council were nomed winners of the prestigious A5hden Awardsfor climate innovotionfor their joint work creating nature-based solutions to addressflood risk and improve water quality across the Enfield area. The River Restoration team led the delivery of two additional wetlands: Chinbrook Meadows in Lewisham. funded by Bonneville Environmental Foundation, and Gallion's Lake in Thamesmead, also funded by Coca-cola, in conjunction with local partners. This illustrates how our work is expanding across London. Through the SYMBIOREM project, a floating reedbed was also installed in Gallion's Lake to provide additional water treatment and fish habitat. 13
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Each wetland was planted with help from the local community, and water quality monitoring is now underway at all sites to ensure they are delivering water treatment as anticipated. These wetlands treat runoff from a combined 107 hectares of land, which equates to 1.07 km of river restored. Green finance, including corporate funding to deliver river improvements, is a growing market and an area of anticipated future growth for Thames21. Wetlond planting day with volunteers ot Wilbury Woy in August 2023. Project showcase: Bathing Waters- Reclaim Our Rivers Reclaim Our Rivers is a regional project aimed at raising awareness of water quality in rivers used for recreation, obtaining Bathing Water Designation (BWD) status at four sites over two years, and driving improvements to river health. In 2023, we worked with communities in Henley-on-Thames and Wallingford to gather the required data and evidence and applied to DEFRA for BWDS. Wallingford Beach was successful and could soon be granted bathing water status according to BBC News. An advocacy board with stakeholders interested in BWD was established to enable shared learning and provide guidance in project development and messaging. With or without an official designation, the project continued to positively impact nature and address the social emergency we face today. The project has.. Trained and empowered 49 citizen scientists in Henley-on-Thames and Wallingford to gather evidence on water quality issues and support applications to DEFFIA for official designations. Engaged 230 individuals and local organizations across both sites as part of the required consultation process for the applications. Published water quality data on online story maps, enabling thousands of river users at each site to make informed choices. Identified some of the main sources or pathways of bacterial pollution dangerous to public health at each location. 14
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Highlighted data collected to Thames Water, indicating that specific assets are a significant source of bacteria, and discussed ways to reduce this. In 2024, the project has focused more on campaigning and raising awareness about the suitability of our rivers for all recreational users, as DEFRA is not currently accepting any new BWD applications. We have continued to work with communities in more locations.. River Roding at Roding Valley Recreational Ground and River Thames at Pangbourne Meadows. To find out more, see Bathin Waters - Reclaim Our Rivers. Swimmer5 Ut the Club to Pub event in Henley 2023. 15
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Tackling the social emergency by working to improve the health and wellbeing of people and communities rhomes21 Engogement Officer Catriona Ros5 (picturedfur right) leods o group of volunteers L7t o BeckenhL7m Place Park river cleL7n- up event In south-east London. Research shows that regular access to blue/green space reduces stress, maintains health and wellbeing, helps people to be more active and supports learning and development. Volunteering combats social isolation and builds connectedness and confidence. Thames21 provides opportunities for active participation that improves physical and mental health in communities and works to improve free access to good quality rivers for the community. River Restoratson Officer Tyler Rondrjll leads a volunteerplonting day event ut Chinbrook Meadows in March 2024. 16
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Thames River Watch supported volunteer citizen scientists to record and analyse data on litter type and distribution in the Tidal Thames. This work, and the twice-yearly Big Wet Wipe Count, made a significant contribution to the successful campaign to remove plastics from wet wipes, legislation currently going through parliament. Thames21 secured funding for five years for EMPOWER Rivers. This project brings together the two strands of Thames21's work, providing healthy rivers and engaging local communities. This is achieved through an innovative combination of training, grants of up to £100,000 and building a strong network of volunteers and community groups. Citizen scientists learn how to monitor sewoge pollution with Hanna Checkers at MuLÉuii Biuok in north London. Thames21 has worked with and supported over 12,000 participants in activities such as litter collection and surveys, wetland maintenance and planting, reedbed installation, guided walks, river- themed games, river-dipping, and water quality monitoring, all aimed at improving knowledge and understanding. 17
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 ¥¥p* River re5torotion officer Miguel Sanubria took schoolchildren out to Gollions Lake, south-eost London, to inform them about their locol woterwoy. •F Thomes21's Helen Curdy L7t7d Debra Fr(Jnki?wtrcz imported thcir knowlcdge aboijt river5 to Yeor 6 children ut the Annunciotion Catholic Juniorschool in Burnet, north London. As part of our commitment to ongoing stewardship and legacy of our projects, the charity has delivered 18 training courses in the last year to over 200 participants, alongside activity sessions for nearly 4000 school pupils at our Welsh Harp Centre in Brent and in Sands End and the Isle of Dogs along the Thames. 18
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Project showcase: Engagement Framework and Learning Resources The Engagement & Learning Team has created The Engagement Framework and Toolkit. This sets out a clear methodology and structure for community engagement that can be used across Thames21's work. It enables staff to ensure citizens and community groups engage more effectively with the co-design process, supporting greater agency over, and connection with, local blue spaces. It establishes a model from initial engagement based around listening to local communities, through discovery and learning workshops, training and volunteering, leading to independent stewardship and advocacy of river spaces. River Action Group session in May 2024. The aim of the 5e5510n wa5 to help Ihoffne5215 volunteerslorm thelr own groups to take procticol action to help their locol river5. This was developed as part of the Symbiorem project. Eu-funded, Symbiorem explores the use of the natural capabilities of microorganisms, microbiomes, proteins, plants and animals to remove pollution from the environment. It is a pan-European project with partners in Italy, Basque Country, Poland and Austria. AGENPA 11 Engagement Maiiu9Lr fi050 Clovorie Jii Italy conducting o worksliop on engaging communities 19
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Alongside the Framework sits a suite of learning resources, trialled and evaluated through practical sessions and activities with communities. These consist of lesson plans and supporting materials comprising a mixture of classroom-based and online learning. These materials enable flexible delivery to a range of participants from non-expert citizen scientists to more knowledgeable audiences. 'pri Thomes21, Peobody, and the local community joinedforces in February 2024 to assemble twoflooting wetland units in GGllion5 Lake, south-eu5t London, as part of the Eu-funded SYMBIOREM project. 20
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Project showcase: Thames Connections Thames Connections works with communities who live near the Thames but have not previously been involved in Thames21's work or wider environmental work. The project supports access to riverside spaces for local communities, provides for social connections, recognizing the river and riverside spaces are an important community asset. The longer-term aim is to build a more inclusive wider and long-lasting Thames focussed community. The project has built strong partnerships with local community groups and organisations. These represent many different interests, arts and theatre, wellbeing for older people. disabled people and employment services. Working with community groups is a key element of Thames21's engagement approach., it builds the social capital important to further trust and develop wider relationships in the community. One partner organisation is Real, an east London disability charity run by disabled people. Their objectives are centred around the social model of disability, people are disabled by barriers in society, not by their impairment or difference, and the belief that disabled people should have the same choices and opportunities in their lives as non-disabled people. The partnership was framed around the understanding that the people of a place understand that place and the unique opportunities and challenges it presents. Holding social events and conversations by the river gives important formative experiences of the river space, Furthermore, they set the foundations for work to help disabled people enjoy the river space on a more independent basis. Thames21 PL7rtnered with Dr. Michelle Yaa Asantewa to run a Mama Osun/London Rivers Week event in May 2023 on the Thames foreshore neor Batter5ea Bridge. 21
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Advocating and campaigning for policy, systemic and social change Overview During the reporting period from 1 April 2023 to 31 March 2024, Thames21 received over 1,000 pieces of media coverage. The highest audience reach occurred in October, reaching 44.2 million people. Cumulatively, the audience reach for this period was 204 million. Total Reach 50.1)00.I 40.000.C< ao.000.C4X+ io.000.L After years of effort, the communications department, working collaboratively with the entire team, achieved a significant policy change.. getting the Government to commit to banning plastic in wet wipes. Data collected by volunteers on wet wipes distribution in the Thames was provided to Fleur Anderson (MP for Putney) for her research. This information was instrumental in introducing a Bill to Parliament to ban plastic in wet wipes, leading to a government consultation on the issue in November 2023. Supporters were encouraged to participate in the consultation through social media and newsletters, with template letters provided for them to send to their local MPS. Communication5 Manuger Liz Gyekye speaking to ITN News to promote the compuign to bun plostic in wetwipes Ortober2023 22
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Yo MPfor Putney Fleur Anderson with Port of London Authority's John Dillon-Leetch Press releases raised awareness of the wet wipes issue, securing media coverage in top outlets such as the BBC, ITV, Sky News, The Times, the i newspaper, and major radio channels. The Times referred to part of the Hammersmith foreshore as "wet wipe island," a term that trended on X (formerly known as Twitter). Media stories backed by data and facts garnered attention from top publications. Anecdotal evidence suggests that some new volunteers at Thames21's 'Big Wet Wipe, count events first learned about the charity through these broadcasts and press interviews. The addition of a new Communications Officer in July has help expand Thames21 communications function. This has enhanced awareness of Thames21 and promoted the charity's work via social media. The communications team has focused on content planning, consistently posting daily updates that celebrate successes and highlight priorities. Extensive coverage was received for the response to the sewage pollution debate. By posting high-quality content that resonates with the audience. a strong community and network of supporters has been built. This approach has cultivated numerous 'brand advocates, and helped manage negative comments through the promotion of positive news stories. Promoting project work has also boosted volunteer recruitment, as evidenced by responses on the Plinth channel, where new volunteers often mention discovering Thames21 through communications efforts. The communications department has also empowered team members through media training, enabling them to appear on channels such as the BBC to discuss the successful bathing water status application at Wallingford Beach. 23
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Additionally, collaboration with stakeholders and partners on various projects has been fruitful. The team played a key role in working with partners to ensure the success of London Rivers Week. Top viewed website pages 12,0(X) 10,0(• 8,0 8,IXIO 4,ODO 2,¢XIO Evenis Get Waief Vaeancieg Abcwtus Conlact cOrpale LoTh1on FNeyear iJwoi¥ed in qlIty us teamdwgs Rivers a ri¥tr results Week Cle up 2023 Followers on Thames21 social media channels Facebook Twitter Linkedln Instagram 31 March 2024 5,600 13,286 2,705 5,204 31 March 2023 5,000 12,700 2,120 4,430 24
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Our results: delivering against our Five-year Plan Targets Thames21 is delivering its ambitious Five-year Plan that started last year. The Plan targets help focus resources and planning to drive the growth needed to achieve our aims for 2028 when the current plan ends. There has been progress in many areas. Between 1 St April 2023 and 31 March 2024 Thames21'. Involved 12,392 volunteer participants in practical action (9,944 in 22/23) Inspired 3,848 school pupils (2,898 in 22/23) Delivered 18 training courses (8 in 22/23) Built 4 constructed wetland (1 in 2022/2023) 25
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Delivered 5 Natural Flood Management projects (2 in 22/23) Delivered 4 eel passage easements (1 in 22/23) Planted 8, 100 trees (34,456 in 22123) Restored 4.5 kilometres of river (2.98km in 22/23) Worked with 70 farmers on catchment management (8 in 21/22) 26
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Supported the development of 8 SUDS projects. (4 in 22/23) Developed evidence on 7 catchment and sub-catchment scale water quality issues and provided solutions (4 in 2W23) Supported statutory organisations to deliver 6 flood resilience projects through co-design with communities (6 in 22/23) 27
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Fundraising progress and development to support the growth in the organisation and essential core functions Thames21 trustees, staff, andfunders gothered Infront of the Loo Gardens Installotion, 50 meters beneath London in the Tidewoy Tunnel, ot on exclusive event to showcase our work und celebrate thefuture of o healthier River Thames. July 2023 Thames21 is delivering its fundraising strategy to support the charity's growth and deliver its impacts for public good. The charity has invested in fundraising and data integration roles that will increase the charity's capacity to fund itself, diversify its income streams, and bring in income to core, strengthening the organisation's resilience. CEO Chris Coode Speaking ot Thomes21 s Volunteer Celebrotion award5 in April 2023. The Cello Hen5man River Leoder of the Year Award wos won by volunteer Steve Catchpole. 28
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Thames21 continues to work in partnership across all sectors to deliver its aims and scale up impacts. The charity is expanding its work with corporates and for the first time, the charity's revenue from private sector sources was greater than its revenues from statutory sources. It is exploring emerging environmental markets such as water neutrality and Biodiversity Net Gain on rivers. Thames21's Corporate Volunteering offer continues to be in high demand and delivers vital revenue to core. The charity continues to expand its work with Trusts & Foundations. Development of its CRM Database is a vital first step towards building an Individual Giving programme. The charity is developing its capacity to steward funders, which will also support its long-term growth and stability. Thames21 implements the highest standards for its fundraising activities. The charity clearly distinguishes beleen restricted and unrestricted donations. Thames21 treats all funders and donors with respect whilst also retaining its independence. No fundraising complaints were received this financial year. (202212023: none). THAMES21 INCOME BY SOURCE FY24 Bank Int•r••t 146 Indlvldual, Community& COTY Don8tlon8 Corp¢rat•$ 41% Oth•r Incom• 4% EU Fundlng 8% TN•t & Foundatlon Grant• 10% Statutory gourc•¥ 35% Financial review Thames21's turnover for the year has crossed the £4 million mark even though only an income of £3,008k was recognised for the year. This shows a 22 % increase compared to £2,459k for 2023. This increase is due to multiple factors including high demand for corporate volunteering activities, increased demand for projects arising from the climate change and a greater awareness of the benefits to communities of active involvement in rivers and flood resilience. Correspondingly, our expenditure has grown to £3,084k for the year (Compared to £2,145k in 2023) as a result of additional investments in adding skilled managers and staff to the team, aligning salaries and pensions with competition to retain and attract skilled staff, strengthening IT infrastructure and working facilities, salary increases afforded to staff to combat high inflation. Thames21 has recorded an unrestricted surplus of £46k (compared to £28k unrestricted surplus for year to March 2023). 29
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 At the end of this financial year, we are adequately covering our reserves policy of six months of operational expenses. Financial Development During the year we have strengthen the fundraising function by adding skilled managers to the team with specific responsibility for identified areas of fund-raising. We plan to invest in a manager for Individual Giving for this team in the next financial year. Thames21 is also exploring opportunities to offer specialist services at a commercial rate to corporate customers to generate additional funds that can be applied to further develop the charity to extend its fundamental objectives. Finance Function In line with our five year development plan whilst strengthening our operational teams, we have taken steps to reinforce the Finance Function as well since it plays a central key role to support the operations, timely management information to project staff, facilitating prompt delivery of goods and services to various projects, smooth functioning of IT infrastructure and security and data compliance, supporting project staff on budgeting and bids, keeping an eye on financial controls and processes and above all to provide the trustees and senior management team with figures to facilitate them to guide the charity forward with confidence. In this direction we have now migrated to SharePoint in a cloud environment even though we are still at a developing stage. We are also actively sourcing a suitable CRM package to enrich our work in all areas. We envisage that both SharePoint and the chosen CRM package will be fully embedded into our operations during the next financial year. We have taken advantage of London TFL scrappage scheme to purchase new vehicles to our fleet and are investing on new technology to streamline vehicle usage and monitoring processes. Human Resources The year has seen significant improvements in HR. with various systems being implemented, such as a new appraisal process, management development training, as well as a refresh HR policies and procedures and the staff handbook. A training strategy is currently being developed with a view to rolling this out over the remainder of 2024 into 2025 focusing on all Thames21 staff. We are also working with an online training provider to supply low-cost training in key aspects of event delivery. Health & Safety Practices With appointment of our part time Operations Manager, we have been able to revisit development and shaping of our Health & Safety management practices as we grow and become more complex in structure and output. We intend to complete the rollout of new systems and practices during the next financial year. We are also expanding our use of trend analysis in incident reporting to ensure training needs are identified and directed appropriately. Consideration of Going Concern In assessing the going concern position of the charity for the financial statements for the year ended 31st March 2024, the Directors have considered the charity's forecast cash flows and charitable activities along with the opportunities arising from shifts in demand to address climate change and the resultant urgencies for river restoration work and community development, volatile economic conditions and their consequential impact on the activities of the charity. Based on these forecasts, the Trustees have adopted the going concern basis in preparing the financial statements. 30
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Future Plans. Thames21'5 catchment portner5hip team mode a 51te visit to 5windon to view an orea where the Actionfor the River Kennet group have restored a section of the River Og. They took leorningsfrom this visit to help inform their own projects. The charity's key aims for the twelve-month period ending 31 March 2025 are to: Progress implementation of the charity's new Five-year Plan 2023 - 2028 Strengthen the in-house fundraising function to secure necessary funding for core activities and new initiatives, ensuring organizational resilience. IY Thumes21 volunteers in the River Rovensbourne us port of the volunteering progromme at Beckenhom Ploce Pork. 31
THAMES21 LIMITED | REPORT OF THE DIRECTORS FOR THE YEAR 01 APRIL 2023 TO 31 MARCH 2024 Boost public awareness and engagement through targeted communication campaigns, highlighting the charity's achievements and ongoing projects to attract new supporters and volunteers. Thome521 working with volunteers in Dagenht7m, east London, to help cleor up the Gores Brook. Take advantage of emerging legislation, to secure new funding streams and expand the charity's impact. Continue to refine and enhance internal systems and functions, including financial management, human resources, and IT infrastructure, to support efficient operations and growth. Develop and deepen relationships with existing and new partners, including local communities, government bodies, and other stakeholders, to align efforts and amplify impact. Develop delivery plans to increase benefits for rivers and communities at locations across the Thames River Basin, including strategic-level projects Reserves Policy The Trustees believe that the Charity should hold financial reserves.. 1. Because many projects are ongoing into the future. 2. To enable the charity to continue operating despite unforeseen setbacks. 3. To allow the charity to take advantage of change and opportunities to further its objectives. The trustees believe that the level of free reserves should be the equivalent of six months, essential operating costs. The Charity currently has free reserves of £446k (£401 k in 2023) which are not allocated to deliver a particular charitable activity. Of this, £45k has been earmarked for the development of the charity leaving a balance of £401k which satisfies our reseNe policy of holding at least 6 months of operational expenses. 32
Katherine Ri s gg
Katherine Riggs (Tue, 14th Oct 2024 7:26:13 BST) Katherine Riggs t\
14 October 2024
THAMES21 LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THAMES21 LIMITED FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Opinion We have audited the financial statements of Thames21 Limited (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities (including an income & expenditure account), the Balance Sheet, the Statement of Cash Flows and the related notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 34
THAMES21 LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THAMES21 LIMITED FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Other information The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given the trustees, report (incorporating the directors, report) for the financial year for which the financial statements are prepared in consistent with the financial statements. and the directors, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 35
THAMES21 LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THAMES21 LIMITED FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below: We gained an understanding of the legal and regulatory framework applicable to the charitable company and the sector in which it operates and considered the risk of the charitable company not complying with the applicable laws and regulations including fraud,. in particular those that could have a material impact on the financial statements, including financial reporting and tax legislation. In relation to the operations of the Charitable company this included compliance with the Charities Act 2011 and Companies Act 2006. The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following: Review of legal fees incurred. Reviewing Trustee Board meeting minutes; Enquiring of management, including those responsible for the key regulations., Reviewing the key accounting policies and estimates; Agreeing the financial statement disclosures to underlying supporting documentation. We additionally assessed management bias in relation to the accounting policies adopted and in determining significant accounting estimates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities 36
THAMES21 LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THAMES21 LIMITED FOR THE PERIOD 01 APRIL 2023 TO 31 MARCH 2024 occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the FRC'S website at: htt s.'Ilwww.frc.or .uklauditorslaudit-assurancelauditor-s-res onsibilities-for-the-audit-of-the- fildescri tion-of-the-auditor % E2 % 80 % 99s-res onsibilities-for.This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company s members as a body, for our audit worf(, for this report, or for the opinions we have formed. Michael Cooper-Davis FCCA ACA (Senior Statutory Auditor) For and on behalf of.. Price Bailey LLP Chartered Accountants Statutory Auditors 24 Old Bond Street London W1S4AP Date: 15 October 2024 37
THAMES21 LIMITED Statement of Financial Activities (including income and expenditure account) For The Year Ended 31 March 2024 Unrestricted funds Restricted funds Total funds Total funds for year to for year to 31 March 31 March 2024 2023 Noto Income.. Donations and legacies Inveslmenl income 592,047 19,646 79,085 671,132 19,646 14,802 799,231 6,041 Other income 14,802 13,774 Incoming resources for charitable activities 2,303,265 2,303,265 1,639,629 Total Incom• 626,495 2,382,350 3,008,845 2,458,675 Expanditurn.. Cost of raising funds Charitable activities 1118.4311 116,5011 1134,9321 176,5951 1446,5131 12,486,6591 12,933,172) 12,068,027) 115,9591 115,9591 11,2971 1580,9031 12,503,160) 13,084,063) 12,145,919) Other expenditure Total oxpèndltur• Net Income 45,592 1120,8101 175,2181 312,756 Transfers Transfers between funds Nèl movèmènt in funds 16 4S,S92 1120,8101 175,2181 312,7S6 Reconclllatlon of funds Total funds brought forward 16 400,826 535,278 936,104 623,348 Total funds carried fotward 16 446,418 414,468 860,886 936,104 All income and expenditure have arisen from continuing activities. The Slalement of Financial Activities includes all gains and losses recognized in the year. The notes to the accounts are shown on pages 41-56 and form an integral part of these financial slalemenls 38
THAMES21 LIMITED (Company number- 4985828) Balance Sheet As At 31 March 2024 2024 2023 Note Flxed Assets Tangible fixed assets 11 36,069 24,912 36,069 24,912 Current assets Debtors 13 1,009,907 659,451 Cash at bank and in hand 1,382,002 1,616.816 Total current assots 2,391,909 2,276,267 Creditors.. amounts due within one year 14 11,549,861) 11,348,873) Net Current assèts 842,048 927,394 Total a$$ot$ 198$ ¢urrgnl liabiliti88 878,117 952.306 Provisions for liabilities 15 117,2311 860,886 116,2021 936,104 Net aGs•t8 Fund8 Unreslricled funds 16 446,418 400,826 Restricted funds 16 414,468 535,278 Total funds 860,886 936,104 The notes lo th8 accounts are shown on pages 41-5e and fomi part of thes8 financial slalemenls. The financial slalemenls have been prepared in accordance with speci81 provisions applicable lo companies subject to the small companies, regime. 14 Oct 2024 The financial slalèmenls werè approvèd by the Trustees on their and were signed on behalf by.. rirt Kalhgrine Riggs (Ocl 14, 2024, 8..05aml K Riggs, Trustee 9vgrAIDavid50n (Ocl 6, 2024, H T Davidson, Trustee 39
THAMES21 LIMITED Statement of Cash Flows For The Year Ended 31 March 2024 Note 2024 2023 Cash provided by Operating activities 23 1229,3391 562,187 Ca$h flows from Invostlng actlvltles: Interest income 23 19,646 6,041 Purchases of tangible fixed asset 11 125.1211 116,4951 Cash provided by investing activities: 15,4751 110,4541 Decrease in cash and cash equivalent during the period 1234,8141 551,733 Cash and cash equivalent al the beginning of the period 1,616,816 1,065,083 Total cash and cash equlvalonts at tho Ond of the reportlng p•rS0d: 1,3B2,002 1,616,816 Analys18 of nèt d8bt A101 Cash A131 Apr-23 Flows March 2024 Cash at bank and in hand 1,616,816 1234,8141 1,382,002 1,616,816 1234,814 1,382,002 The notes lo the aceounls are shown on pages 41-56and form part of these financial slalemenls. 40
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 1. Accounting Policies The principle accounting policies adopted by the charitable company are as follows.. Basis of Accountin The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Stslement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive January 20191- Icharilies SORP IFRS10211, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Thames21 Limited meet the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otheiSe slated in the relevant accounbng Policy notelsl. The financial statements are presented in Sterfing, and are rounded lo the nearest £. Le al status of the charit The charity is a private company limited by guarantee and has no share capital. In the event of the charity being wound up, the liabillty in respect of the guarantee is limited to £10 per member of the charity. As al 31 March 2024 there were 13 members12023.' 131. The charity were incorporatsd within England and Wales, and the registered address is London River House, Royal Pier Road, Gravesend, Kent, DA12 2BG. In assessing the going concern position of the charity for the financial statements for the period ended 31 March 2024, the Directors have considered the charity s forecast cash flows, liquidity and charitable aclivilies. Based on the charity's forecasts, Ihe Directors have adopted the going concern basis in preparing the financial slalements. The Directors have rnade this assessment after consideration of the charity s cash flows and related assurnplions around the liming and amount of voluntary donallons, together with the effect of both certain and forecasted future income streams. As part of their assessment, the Directors have also considered the irnpacl of downside scenarios with a sustained period of reduced charitable activity, both in term8 of the liming in which voluntary income is received and in undertaking projects ulilising that income. Fund Accountin Unrestricted funds are expendable al the discretion of the Trustees in furtherance of the objects of the charity. The fund comprises the accumulatgd surpluses and deficits of unreslriclgd income and expgndilure. Restricted funds are those where the donor has imposed reslriclions on the use of the funds which are binding. Income arising on reslricled funds and expenditure incurred in respect of these funds are reflected through the Slalemenl of Financial Aclivilies. 41
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 1. Accounting Policies (Continued) Inttjme All income is included in the Slalemenl of Financial Aclivib'8s when th8 charity is enlilled to the income and th8 amount can b8 quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Voluntary income is received by way of grants. donations and gift income and is recognised when received. Gifts in kind of services and facilities are included al the value to the charity where this can be quantified. These values are based on reasonable estimates and on information provided lo us by the donors (see note 21. The value of services provided by volunteers has not been included in these accounts. Investment income is accounted for when receivable. Government Grants A grant that becomes receivable for the purpose of giving immediate financial support with no future related costs is accounted for under the accrual model and Is reco9nised In other operation income In the period In which Il becomes receivable. All grants become receivable In the period in which the related costs for which the grant is Intended lo compensate are Incurred. Charitsble activities income relate8 to grants received which have conditions allached to them and are for specllic purposes. They are recognised on receipt or when they become due. Oeferred Income Project income is apportioned over the life of the project. Where the project works carrièd out continue into a future ret)orting accounting period. income will be deferred lo the that period based on how much of the project is still lo be cornpleled. Ex ndilure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered Ilhe Charity is VAT regisleredl and is reported as part of the expenditure lo which 11 relates.. Cost of generating fund8 comprises of the costs associated with fundraising. Cost of charitable activities comprises all the resources applied by the charity in undertaking ils work lo meet ils charitable activities. These include the direct costs ol the charitable activities and the Support costs and gifts in kind incurred that enable these activities to be undertaken. Where costs cannot be directly allribuled, they have been apportioned according lo the eslimaled lime or resource sp8nt on each. Governance costs comprise of the audit fees, being the costs associated with meeting the conslitulional and statutory requirements of the charity. 42
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 1. Accounting Policies (Continued) Financial instruments The charity only has financial assets and financial liabilities of a kind thal qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Fixed assets are recorded al depreciated historical ¢ost and all other assets and liabilities are rewrded at cost which is their fair value. Cash al bank and in hand Cash al bank and 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. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. Accrued Income is Included al the best estimate of the amounts recelvable al the balance sheet dale. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a Ihlrd party and the amount due lo sellle the obligation can be measured or eslimaled reliably. Credllor8 are normally recognised at their settlement amount after allowing for any trade discounts due. mmi Operating leases are recognised over the perfod of which the lease falls due. Benefits rèceived are receivable as an incenliva to sign an operating leasè arè recognised on a slraighl line basis over the period of the18ase. Taxallon The company is considered to pass the le818 Sel out In Paragraph 1 Schedule 6 of the Flnance Act 2010 and thgrefore it mgets the dgfinition of a charitablg Gompany for UK wrporalion lax purposes. Accordingly, the company is potentially exempl from tsxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 1101 the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively lo charitable purposes. Pension Costs The charity has previously participated in the Environmental Campaigns Pension and Assurance Scheme IECPASI, a mulli-employer defined benefit scheme which was closed lo future accrual on 31 July 2008. The charity is unable lo identify ils share of the undedying assets and liabilities, and therefore the charity accounts for this scheme as a defined contribution scherne. The latest actuarial valuation of the scheme, which was carried out on 31 March 2022. identified 8 past service deficit. The Iruslees and the participating employers have agreed a recovery plan over a period of 27 years from the valuation date. The amount Tharnes21 is required lo pay for the recovery plan is provided for in the financial stslements. Contributions lo other defined contribution schemes are recognised in the Statement of Financial Activities and Income and Expenditure AccoLJnl in the period in which they become payable. See note 15. 43
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 1. Accounting Policies (Continued) Tan ible Fixed Assets and De reciation Individual fixed assets are c4pitslised al cost. They are included in the balance sheet al cost, n81 of depreciation and any provision for impairment. Depreciation is provided at rates calculated lo write off the cost of fixed assets, less their eslimaled residual value, over their expècted useful lives on the following basis.. Motor vehi¢les- 33.30/0 straight linè basis K8 sources of ud emenl and eslimalion uncertaint No significant judgements, accounting policies or assumptions have been made by management in applying the charity's accounting policies. 2. Donations and legacies Yaar Endad Year Ended 31 March 2023 31 March 2024 Grants and donations Legacy Income Enhancements Gifts in kind 551,573 675,050 119,559 124,181 671,132 799,231 Grants recognlsed as income being further analysed 88 follows.. Year Ended 31 March Year Endgd 31 March 2023 2024 Corporate clean5 UPS Corporate Donations Port of London Authority Sundry donations, membership & other income Local Authorities Trust and Foundation Grants 224,217 214,273 50,000 34,598 11,500 16,985 304,991 276,745 50,000 7,314 11,000 25,000 551,573 675,050 Total grants from local authorities equated lo £79,200 during the year lo 31 March 202412023.. £78,142). There were no unfulfilled conditions or other contingencies attaching to these grants in either the 2024 or 2023. 44
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 2. Voluntary Income (Continued) Gifts In Kind Support Co$t$ Charity Costs Year Ended 31 March Support Costs Charity Costs Yèar Ended 31 March 2024 2024 2024 2023 2023 2023 Goods & services 42.046 42,046 25.179 25.179 Facilities 12,350 12,350 16,500 16.500 People 9.000 9,000 30,960 30,960 Charity benefi'ts 56,163 56,163 51,542 51,542 Total 68,S13 51,046 119,559 68,042 56,139 124,181 Glfts In Kind Port of London 32,046 25,179 Authority Corporation of 55,463 57,142 London Other 32,050 41,860 Total 119,559 124,181 Gifts in kind from the Port of London Authority for the period include £32,04612023.. £25,179) for Rubbish collection. Restricted voluntary income equated lo £79,085 for the year ended 31 March 202412023.. 199,0461. 45
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 3. Other income Year Ended 31 March Year Endad 31 March 2023 2024 Other Income 14,802 13,774 14,802 13,774 Restricted other income equated lo £nil for the year ended 31 March 202412023.. £nill. 4. Income from Charitable Activities Year Ended 31 March Y•ar Ended 31 March 2023 2024 Waterway Improvements Volunteering and Community Engagement Educallon and Training 1,570,319 558,161 174,785 918,700 510,399 135,530 Incoming Resources from charitable activities 2,303,265 1,564,629 46
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 5. Cost of generating voluntary income Year Ended Year Ended 31 March 31 March 2024 2023 Staff costs 134,932 76,595 134,932 76,595 The value of restricted costs of generating voluntsry income were £16,501 for the year ended 31 March 2024 6. Charitable Activities Actlvlty Dlr•ct Costs Dlrect Glft In kind Unr•Gtrlct•d Support Costs Support Y•ar Endod Costs 31 March In klnd 2024 Waterway Improvements Volunteering & Community Education & Training 1,342,809 28,075 124,206 37,682 1,532,772 464,236 9,699 42,907 13,017 529,859 146,600 3,063 13,550 4,111 167,324 Core Activities 634,140 10,209 45,165 13,703 703,217 2 587 785 225 828 2 933 172 Actlvlty Dlrect Dlrect Glft In Support Supwt Costs klnd Costs Unrestricted Year Ended 31 March 2023 In Waterway Improvements 776,443 23,741 73,489 28,775 902,448 Volunteering & Community 427,886 Education & Training 116,615 Core Activities 449,129 1,770,073 13,086 40,507 3,565 11,034 15,747 48,743 56,139 173,773 15,860 4,321 19,086 68,042 497,339 135,S35 532,705 2,068,027 The value of reslricled charitable activity costs was £2,486,659 for the year ended 31 March 202412023.. £1,535,322> 47
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 7. Support Costs Costs Year ended 31 March 2024 Year ended 31 March 2023 Staff costs 42,907 13,550 124,206 30,235 210,898 161,778 Governance costs 14,930 14,930 11,995 Gifts in kind 13,017 4,111 37,682 13,703 68,513 68,042 55,924 17,661 161,888 58,868 294,341 241,815 8. Governance costs 2024 2023 Audit fee 14,930 11,995 9. Transfers between Funds No transfers were made between funds. 10. Employees Year Ended Yoar Ended 31 March 2024 31 March 2023 Staff costs during the year were.. Wages and salaries 1,541,307 1,115,168 Social security costs 155,413 116,004 Pensions costs 88,708 55,535 Pensions provision 1,029 1,874 1,786,457 1,288,581 The average nurnber of employees ernployed during the year was 46 12023.. 361. Management and Administrative staff lolalled 12 12023.. 91 and operational staff lolalled 3312023..331. One employee received remuneration of between £70,000 £80,000 during the year12023'. one employee beeen £70,000 - £80.0001. 48
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 11. Fixed Assets TANGIBLE FIXED ASSETS Motor Vohlcles Cost At 1 April 2023 Additions 67,776 25,121 Disposals Al 31 March 2023 92,897 Depr•¢latlon Al 1 April 2023 Charge for the year Depreciation on disposals 142.8641 113,9641 Al 31 March 2023 -$6,828 Nel book value al 31 March 2024 36.069 Nel book value al 31 March 2023 24,912 12. Flnanclal Commltments Yoar Ended Year End9d 31-Mar 31-Mar 2024 2023 Equipment Obligations due In 1 year 1,536 1,536 Obligations due in 2-5 years 11,5361 Totsl commitments 1,536 3,072 Total operating lease commitments paid during the year to March 2024 equated to £1,53612023'. £1,536) 13. Debtors 2024 2023 Donations and grants receiv8ble 257,364 252,456 PrgP8yrngnts and accrued inwme 752,543 406,995 1,009,907 659,451 49
THAMES21 LIMITED Notes To The Financial Statements For The Year Ended 31 March 2024 (Continued) 14. Creditors 2024 2023 Creditors.. Amounts falling due within one year.. Trade creditors Other tsxation Other creditors 43,742 70,392 48,802 83,336 Accruals Deferred Income 14,947 1,420,780 19,035 1,197,700 1,549,861 1,348,873 Movement in dgferred income is as follows 2024 2023 Deferred income brought fonNard Released from prior years Income deferred 1,197,700 11,197,700) 1,420,780 649,855 1649,8551 1,197,700 1,420,780 1,197,700 Deferred Income recelved In the year relates lo grant Income recelved In advance of enllllemenl. 15. Provisions for Liabilities - Pension The charity has prevlously partlclp8ted in the Envlronmenlal Campalgns Pension and Assurance Scheme IECPASI, a mulll-employer deflned benefit scheme which was closed lo future accrual on 31 July 2008. The charity is unable lo identify ils share of the underlying assets and liabilities, and therefore the charity continues lo account for thi$ scheme as a defined contribution schemg. The lalesl actuarial review was 31°, March 2024. The pension deficit as al 31°, March 2024 is £2.4m 1£1.9m in March20231. Future contributions lo the scheme have been negollaled with the Trustees of the scheme. From 1 April 2022, Thames21 will pay £48 per month lo meet their share of the shortfall. The monthly payment will increase each 1 April in line with increases in th8 Retail Price Index IRPII with the last payment in March 2040. Administrative expenses, levies and life assurancg premiums are lo be mel separatgly by the employors with Thamgs21 mgeling Ihg same proportion ol these as for the rgcovery plan with payment being required as and when required by the Trustees. The charity accounts for this scheme as a defined contribution scheme. Thames 21 has a provision of £17,231 for the recovery plan in the financial slalemenls al the 31 March 2024131 March 2022.. £16,202). The costs are included in the Slalement of Financial Activities within other resources expended. 50
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THAMES21 LIMITED Notes to the financial statements for the year ended 31 March 2024 (continued) 18. Taxation The company is a registered charity and is exempt from taxats'on in respect of income and capital gains received within the categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the exlenl that such income or gains are applied lo exclusively charitable purposes. 19. Trustees Remuneration and Expenses The directors of the charity are the Trustees under Charity Law and received no remuneration or during the year ended 31 March 2024 12023.. none). Two Iruslee received travel expenses of £491 in the year lo March 202412023.. £5081. The key management personnel of the charity are considered lo be the Iruslees for both the 2024 and 2023 financial periods. 20. Indemnity Insurance The Directors are indemnified out of the assets of the charity against loss arising from claims made against them by reason of wrongful acts committed by them in their capacity as a director of the charity. The charity has taken insurance against this risk. The amount charged in the period ended 31 Mar¢h 2024 was £3,05912023'. £3,059). 21. Ultimate Controlling Party The Trustees do not consider there lo be an ultimate controlling party of the charity during the year ended 31 March 202412023.. none). 22. Related Party Transactions The Port of London Authority. Environmenl Agency, Tideway, Thames Water, Hogan Lovells LLP and Corporation of London have employees who are or were also Trustees of Thames21 Llmiled and are considered lo be related partles. Related party Ir8nsaclions for these companias ara shown below.. Incomg for Ygar Endgd 31 March 2024 Glft In klnd for Year Endod 31 March 2024 Port of London Authority 52,500 32,046 Corporation of London Environment Agency 5,000 55,463 458,142 Tideway Thames Water 98,952 614,594 87,509 55
THAMES21 LIMITED Notes to the financial statements for the year ended 31 March 2024 (continued) 22. Related Party Transactions (continued) Income for Y8ar End8d 31 March 2023 Gift in kind for Yèar Endèd 31 March 2023 Port of London Authority 50,000 25,179 Corporation of London Environment Agency 5,000 57,142 323,741 Tideway 55,990 Thames Water 117,922 552.653 82,321 Debtors are included within Donations and Grants receivable in Note 13. There are no other related partiesl2023-nonel 23. Reconclllatlon of net Movement In funds to net Cash flow from Operatlng Actlvltles Yèar •ndèd 31 March 2024 Yoar ènd8d 31 March 2023 Nel incoming resources Depreciation charge Depreciation on disposal 17S,2181 237,756 13,963 9,694 3,111 Interest from investing activities Increase in debtors 119,6461 1350,4S51 200,988 16,0411 1295,4761 611,846 Increase in creditors Increase in pension provision 1,029 1,297 Nel cash movement from opgraling activities 1229,3391 562,187 56