COMPANY[REGISTRATION] NUMBER:[04668878] CHARITY REGISTRATION NUMBER: 1105663 «CHARITY[REGISTRATION] NUMBER: 1108663 

# West Wales West Wales[Rivers] Rivers Trust Trust Company Company Limited Limited by by Guarantee Guarantee Unaudited Unaudited Financial[Financial][Statements] Statements 31 31 March March 2024 2024 



West West Wales Wales Rivers Rivers Trust Trust 

> Company Company Limited Limited[by] by Guarantee Guarantee 

## Financial Financial Statements Statements 

## Year Year ended ended 31[31] March March 2024 2024 

|||Page<br>Page|Page<br>Page|
|---|---|---|---|
|Trustees' annual report (incorporating the director's report)<br>Trustees’ annual report (incorporating the director's report)|||1<br>1|
|Independent examiner's report to the trustees<br>Independent examiner's report to the trustees|||3<br>3|
|Statement offinancial activities (including income and<br>Statement offinancial activities (including income and||||
|expenditure account)<br>expenditure account)|||5<br>5|
|Statement of financial position<br>Statement offinancial position|||6<br>6|
|Notes to the financial statements<br>Notes to the financial statements|||7<br>7|
|The following pages do not form part ofthe financial statements<br>The following pages do notform part ofthe financial statements||||
|Detailed statement of financial activities<br>Detailed statement of financial activities|19<br>19||- 22<br> - 22|
|Appendix I<br>Appendix |||||
|Detailed trustees report<br>Detailedtrusteesreport|||1-9<br>1-9|





## West West[Wales] Wales Rivers[Rivers] Trust Trust Company Company Limited Limited by[by] Guarantee Guarantee Trustees’ Trustees' Annual[Annual] Report[Report] (Incorporating[(Incorporating][the] the[Director's] Director's[Report)] Report) 

## Year Year ended ended 31[31] March March 2024[2024] 

> The The[trustees,] trustees, who who are are also[also] the[the] directors directors[for] for the[the] purposes purposes of[of] company company law,[law,] present[present] their[their][report] report[and] and the[the] unaudited unaudited financial financial statements statements[of the] of the charity charity[for] for[the] the year year ended[ended][31] 31[March] March 2024.[2024.] 

Reference Reference and[and][administrative] administrative details[details] Registered Registered charity[charity] name name West West Wales Wales Rivers Rivers Trust Trust Charity Charity[registration] registration number number 1105663 1105663 Company Company registration registration number number 04668878 04668878 Principal Principal office office and and registered registered c/o c/o Pritchard Pritchard & & Co Co office office Ffynnonddofn Ffynnonddofn 74 74 High High Street[Street] Haverfordwest Haverfordwest Pembrokeshire Pembrokeshire SA65 SA65 9AU[9AU] 

## The The trustees trustees 

> Dr Dr M M Macklin Macklin 

> Mr Mr[C] C Roberts Roberts Dr Dr KM K M Dearing Dearing Dr Dr[I] | Thomas Thomas Mr Mr A A Thomas Thomas (Resigned (Resigned 15 15 May May 2023) 2023) Mr Mr[J] J Morris Morris Mr Mr C[C][Stretton] Stretton 

> Mr Mr[E] E Evans Evans 

> Mrs Mrs[H] H M M Corcoran Corcoran (Appointed (Appointed 13 13 November November 2023) 2023) 

> Mr Mr S[S][R] R Evans Evans (Appointed (Appointed 13 13 November November 2023)[2023)] 

> Mr A Mr A P[P] Philpott Philpott (Appointed (Appointed[13] 13 November November 2023)[2023)] 

Company Company secretary secretary Dr Dr KM K M Dearing Dearing Independent Independent examiner examiner Stephen Stephen[Davies] Davies FCCA FCCA 

Structure, Structure, governance governance and and management management 

Please Please see see detailed detailed trustees[trustees] report[report][(Appendix] (Appendix[1).] 1). 

Objectives Objectives and and activities activities 

Please Please see see detailed detailed[trustees] trustees report report (Appendix (Appendix[1).] 1). 

> Strategic Strategic report report 

> Please Please see see detailed detailed[trustees] trustees report report[(Appendix] (Appendix[1).] 1). 

1 



> West West Wales Wales Rivers Rivers Trust Trust 

Company Company Limited Limited[by] by Guarantee Guarantee Trustees' Trustees’ Annual Annual Report[Report] (Incorporating (Incorporating the the[Director's] Director's Report) Report)[(continued)] (continuea) Year Year ended ended[31] 31 March March 2024 2024 

## Achievements Achievements and and performance performance 

Please Please see see detailed detailed trustees trustees report report (Appendix (Appendix 1). 1). 

## Financial Financial review review 

> Please Please see see detailed detailed trustees trustees report report (Appendix (Appendix 1). 1). 

> The trustees' annual report and[the] strategic report were approved on . nd signed The on on behalf[behalf] trustees’ of[of the] theannual[board] boardreportof[of] trustees trustees and the[by:] by:strategic report were approved on 28 Decontor 20%and signed 

Dr Dr K K M M Dearing Dearing Trustee Trustee 

> 2 2 



> West West[Wales] Wales[Rivers] Rivers Trust Trust 

## Company Company Limited Limited by[by] Guarantee Guarantee Independent Independent[Examiner's] Examiner's Report[Report][to] to the the Trustees Trustees of[of] West West Wales Wales Rivers[Rivers] Trust Trust 

## Year Year ended ended 31[31] March March 2024 2024 

I | report report to to the the trustees trustees on on my my examination examination of of the the financial financial statements statements of of West West Wales Wales Rivers[Rivers] Trust Trust (‘the ('the charity’) charity') for for the[the] year year ended ended 31[31] March March[2024.] 2024. 

Responsibilities Responsibilities and[and][basis] basis of[of] report[report] As As the[the][trustees] trustees of[of][the] the company company (and[(and][also] also[its] its[directors] directors[for] for[the] the purposes purposes of[of] company company[law)] law) you you are[are] responsible responsible for for the the preparation preparation of of the the financial financial statements statements[in] in accordance accordance with with[the] the requirements requirements of[of] the[the] Companies Companies Act Act 2006 2006[('the] (‘the 2006 2006 Act’).[Act').] Having Having satisfied satisfied myself myself that[that][the] the accounts accounts[of] of the[the] company company are are[not] not[required] required[to] to be[be] audited[audited] under[under] Part[Part] 16[16] of of the the 2006 2006 Act Act and and are are[eligible] eligible[for] for independent independent examination, examination,[I] | report report in[in] respect respect of[of] my my examination examination[of] of the the charity's charity's accounts accounts as as carried carried out out under under section[section] 145 145[of] of[the] the[Charities] Charities Act Act 2011 2011 (‘the[('the][2011] 2011[Act').] Act). In[In] carrying carrying out[out] my my examination examination |[I] have have[followed] followed[the] the[Directions] Directions[given] given[by] by the[the][Charity] Charity Commission[Commission][under] under section section 145(5)(b) 145(5)(b) of the of the 2011 2011 Act. Act. Independent Independent examiner's examiner's statement statement Since Since the[the] charity’s charity's gross gross income income exceeded exceeded[E250,000] £250,000 your your examiner examiner must[must][be] be a a[member] member of[of] a[a][body] body listed listed in in section section 145 145[of] of[the] the 2011 2011 Act. Act. | I confirm confirm that that I | am am qualified qualified to to undertake undertake the the examination examination because because[I] | am am a a member member[of] of the[the][Institute] Institute[of] of Chartered Chartered Accountants[Accountants] in in England England and and Wales Wales (ICAEW), (ICAEVV), which which is is one one of[of] the the listed listed bodies.[bodies.] | I have have completed completed my my examination. examination. | I confirm confirm that that no no matters matters have have come come to to my my attention attention in in connection connection with with the the examination examination giving giving me me cause cause to[to] believe: believe: 1. 1. accounting accounting records records were were[not] not kept kept in[in] respect respect of[of] the[the][charity] charity as as[required] required[by] by[section] section 386[386] of[of the] the 2006 2006 Act; Act; or or 2. 2. the the financial financial statements statements do do not not accord accord with with those those records; records; or or 3. 3. _ the the financial financial statements statements do do not not comply comply with with[the] the accounting accounting requirements requirements[of] of[section] section[396] 396[of] of the the 2006 2006 Act Act other other than than any any requirement requirement that that the[the] accounts accounts give[give] a a 'true ‘true and and fair’[fair'] view view which which is is not not a a matter matter considered considered as as part part of of an an independent independent examination; examination; or or 

4. 4. the the financial financial statements statements have have not not been been prepared prepared in in accordance accordance with with the the methods methods and and principles principles of of the the Statement Statement of of Recommended Recommended Practice Practice for for accounting accounting and and reporting reporting by by charities charities applicable[applicable][to] to charities charities preparing preparing their[their][accounts] accounts in[in] accordance[accordance][with] with the[the] Financial[Financial] Reporting Reporting Standard[Standard][applicable] applicable[in] in[the] the UK[UK] and[and][Republic] Republic[of] of[ Ireland] Ireland (FRS[(FRS] 102).[102).] 

> 3 3 



> West West Wales[Wales][Rivers] Rivers Trust Trust 

## Company Company Limited Limited[by] by Guarantee Guarantee Independent Independent Examiner's Examiner's Report Report[to] to the the Trustees Trustees of[of] West West Wales Wales Rivers Rivers Trust Trust (continued) (continued) 

## Year Year ended ended[31] 31 March March 2024 2024 

| I have have no no concerns concerns and and have have come come across across no no other other matters matters in in connection connection with with the the examination examination to to which which attention attention should should be be drawn drawn[in] in this this report report in in order order to to enable enable a a proper proper understanding understanding of of the the accounts accounts to[to] be be reached. reached. 

Stephen Stephen Davies[Davies] — Chartered Certified ccountant Chartered Certified rel Independent Independent Examiner Examiner 

16 16 Main Main[Street] Street Fishguard Fishguard Pembrokeshire Pembrokeshire SA65 SA65 9HJ 9HJ 

4 4 



> West West Wales Wales[Rivers] Rivers Trust Trust 

## Company Company Limited Limited[by] by Guarantee Guarantee 

## Statement Statement of of[Financial] Financial Activities[Activities] (including (including income income and and expenditure expenditure account) account) 

## Year Year ended ended 31[31] March March 2024 2024 

||||2024<br>2024||2023<br>2023|
|---|---|---|---|---|---|
|||Unrestricted<br>funds<br>Unrestricted<br>funds|Restricted<br>funds<br>Restricted<br>funds|Totalfunds<br>Totalfunds|Total funds<br>Total funds|
||Note<br>Note|£|£|£|£|
|Income and endowments<br>Income and endowments||||||
|Donations and legacies<br>Donations and legacies|5<br>5|25,514<br>25,514|959,625<br>959,625|985,139<br>985,139|434,499<br>434,499|
|Other income<br>Other income|6<br>6|-|4,615<br>4,615|4,615<br>4,615|20,500<br>20,500|
|Total income<br>Total income||25,514<br>25,514|964,240<br>964,240|989,754<br>989,754|454,999<br>454,999|
|Expenditure<br>Expenditure||||||
|Expenditure on charitable activities<br>Expenditure on charitable activities|7,8|30,504<br>30,504|710,197<br>710,197|740,701<br>740,701|389,299<br>389,299|
|Total expenditure<br>Total expenditure||30,504<br>30,504|710,197<br>710,197|740,701<br>740,701|389,299<br>389,299|
|Net income and net movement in <br>Net income and net movement in|funds<br> funds|(4,990)<br>(4,990)|254,043<br>254,043|249,053<br>249,053|65,700<br>65,700|
|Reconciliation of funds<br>Reconciliation offunds||||||
|Total funds broughtf0Mard<br>Total funds brought forward||51 ,804<br>51,804|280,627<br>280,627|332,431<br>332,431|266,731<br>266,731|
|Total funds carried forward<br>Totalfundscarriedforward||46,814<br>46,814|534,670<br>534,670|581 ,484<br>581,484|332,431<br>332,431|



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

> The The notes notes on on pages pages 7[7] to[to] 17[17] form form part part[of] of these these financial[financial] statements.[statements.] 

> 5 5 



## West West Wales Wales Rivers Rivers Trust Trust Company Company Limited Limited[by] by Guarantee Guarantee Statement Statement of of[Financial] Financial Position Position 

## 31 31 March March 2024 2024 

|||2024<br>2024|2023<br>2023|
|---|---|---|---|
||Note<br>Note|£|£|
|Fixed assets<br>Fixed assets||||
|Tangible fixed assets<br>Tangible fixed assets|13<br>13|17,332<br>17,332|3,833<br>3,833|
|Current assets<br>Current assets||||
|Debtors<br>Cash at bank and in hand<br>Debtors<br>Cash at bank and in hand|14<br>14|97,580<br>559,594<br>97,580<br>559,594|81,863<br>254,136<br>81,863<br>254,136|
|||657,174<br>657,174|335,999<br>335,999|
|Creditors: amounts falling due within one year<br>Creditors: amounts falling due within one year|15<br>15|93,022<br>93,022|7,401<br>7,401|
|Net current assets<br>Net current assets||564,152<br>564,152|328,598<br>328,598|
|Total assets less current liabilities<br>Total assets less current liabilities||581 ,484<br>581,484|332,431<br>332,431|
|Funds of the charity<br>Funds ofthe charity||||
|Restricted funds<br>Restricted funds||455,138<br>455,138|280,627<br>280,627|
|Unrestricted funds<br>Unrestricted funds||126,346<br>126,346|51,804<br>51,804|
|Total charity funds<br>Totalcharityfunds|17<br>17|581 ,484<br>581,484|332,431<br>332,431|



For For[the] the year year ending ending[31] 31 March March 2024 2024 the the charity charity was was[entitled] entitled[to] to exemption exemption from from[audit] audit under under[section] section 477 477 of of the the Companies Companies Act Act 2006 2006 relating relating to to small small companies. companies. 

Directors' Directors'[responsibilities:] responsibilities: 

- e The The members members have have not not[required] required[the] the company company[to] to[obtain] obtain an an audit[audit] of[of][its] its financial financial statements statements for[for][the] the year year[in] in[question] question[in] in accordance[accordance][with] with[section] section 476; 476; 

- e • The The directors directors acknowledge acknowledge[their] their responsibilities responsibilities for[for] complying complying with[with] the[the] requirements requirements of[of] the[the][Act] Act with with respect respect[to] to accounting accounting records records and and the the preparation preparation of of financial financial statements. statements. 

These These financial financial statements statements have have been been prepared prepared in in accordance accordance with with the the provisions provisions applicable applicable to to companies companies subject subject[to] to the[the][small] small companies' companies' regime. regime. These These financial financial statements statements were were approved approved by by the the board board[of] of trustees trustees and and authorised authorised for[for] issue issue on on 28 28 December December 2023,[2023,] and[and] are are signed signed on on[behalf] behalf of[of the] the board board by:[by:] 


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> Dr Dr K K M M Dearing Dearing Trustee Trustee 

> The The notes notes on on pages pages[7] 7[to] to[17] 17 form form part part of of these these financial financial statements. 

> 6 6 



West West Wales[Wales] Rivers[Rivers] Trust Trust Company Company Limited Limited[by] by Guarantee Guarantee 

## Notes Notes[to] to the the Financial[Financial] Statements Statements 

## Year Year ended ended[31] 31 March March 2024 2024 ei i PRN a 

> 1. 1. General General[information] information 

> The The charity charity is[is] a a public public[benefit] benefit entity[entity][and] and[a] a private private company company limited[limited][by] by[guarantee,] guarantee, registered[registered][in] in England England and and Wales Wales and and a a registered registered charity charity in in England England and and Wales. Wales. The The address address of of the the registered registered office office is is c/o c/o Pritchard Pritchard & & Co, Co, Ffynnonddofn, Ffynnonddofn, 74 74 High High Street, Street, Haverfordwest, Haverfordwest, 

> Pembrokeshire, Pembrokeshire, SA65 SA65 9AU. 9AU. 

> 2. 2. Statement Statement[of] of compliance compliance 

> These These financial financial statements statements have have[been] been prepared prepared in in compliance compliance with with FRS FRS 102, 102, 'The ‘The Financial Financial 

> Reporting Reporting Standard Standard applicable applicable in in the the UK UK[and] and the the Republic Republic of of Ireland', Ireland’, the the Statement Statement of of 

> Recommended Recommended Practice[Practice][applicable] applicable[to] to charities charities preparing preparing their[their] accounts[accounts][in] in accordance[accordance] with[with][the] the Financial Financial Reporting Reporting Standard Standard applicable applicable[in] in the the UK UK and and Republic Republic of[of] Ireland Ireland (FRS (FRS 102) 102) (Charities (Charities 

> SORP SORP (FRS[(FRS][102))] 102)) and[and][the] the[Companies] Companies Act[Act][2006.] 2006. 

## 3. 3. Accounting Accounting policies[policies] Basis Basis of[of] preparation preparation 

> The The financial financial statements statements have have been[been][prepared] prepared on on[the] the historical historical cost[cost][basis,] basis, as as[modified] modified[by] by the[the] revaluation revaluation[of] of certain certain financial financial assets assets and[and] liabilities liabilities and[and][investment] investment properties[properties] measured[measured] at[at][fair] fair value value through through income income or or expenditure.[expenditure.] 

> The The financial financial statements statements are are prepared prepared[in] in sterling, sterling,[which] which[is] is the[the] functional[functional] currency currency[of the] of the entity.[entity.] 

## Going Going concern concern 

There There are are no no material material uncertainties uncertainties about[about] the[the] charity's charity's[ability] ability[to] to[continue.] continue. 

## Judgements Judgements[and] and key[key] sources sources[of estimation] of estimation uncertainty[uncertainty] 

> The The preparation preparation of of the the financial financial statements statements requires requires management management to to make make judgements, judgements, estimates estimates and[and] assumptions assumptions[that] that affect[affect][the] the amounts amounts[reported.] reported. These These estimates[estimates] and[and] judgements[judgements] 

> are are continually continually[reviewed] reviewed[and] and are are based based on on experience[experience][and] and other[other][factors,] factors, including[including][expectations] expectations 

> of of future future events events that that are are believed believed[to] to be be reasonable reasonable under under[the] the circumstances. circumstances. 

Fund Fund accounting accounting Unrestricted Unrestricted funds funds are are available available[for] for use use at at the the discretion discretion of of the the trustees trustees to[to] further further any any of of the the charity's charity's purposes. purposes. Designated Designated funds funds are are unrestricted unrestricted funds funds earmarked earmarked[by] by[the] the trustees[trustees][for] for particular particular[future] future project[project][or] or commitment. commitment. Restricted Restricted funds funds are are subjected subjected to to restrictions restrictions on on their their expenditure expenditure declared declared by by the the donor donor or or through through[the] the terms terms[of] of an an appeal, appeal,[and] and[fall] fall into[into] one one[of] of two[two][sub-classes:] sub-classes: restricted restricted income[income] funds[funds][or] or endowment endowment[funds.] funds. 

7 



West West Wales Wales Rivers Rivers Trust Trust 

## Company Company Limited Limited[by] by Guarantee Guarantee 

## Notes Notes to[to] the the[Financial] Financial Statements Statements (continuea)[(continued)] 

## Year Year ended ended 31[31] March March 2024 2024 

3. 3. Accounting Accounting policies policies (continued)[(continued)] Incoming Incoming resources resources 

All All income income is[is] included included in in the the statement statement of of financial financial activities activities when when entitlement entitlement has has passed passed to to the the charity, charity, it it is is probable probable that that the the economic economic benefits benefits associated associated with with the the transaction transaction will will flow flow to to the the charity charity[and] and the[the] amount amount can can be[be] reliably reliably[measured.] measured. The The following following specific specific policies policies are are applied applied[to] to particular particular categories categories[of] of income: income: - - - income income from from donations donations or or grants grants is is recognised recognised when when there there is is evidence evidence of of entitlement entitlement to to the the gift, gift, receipt receipt[is] is probable probable[and] and its[its] amount amount can can be[be] measured measured reliably. reliably. - - income income[from] from contracts contracts for for the the supply supply of of services services is is recognised recognised with with the the delivery delivery of of the the contracted contracted service. service. This This is is classified classified as as unrestricted unrestricted funds funds unless unless there there is is a a contractual contractual requirement requirement for[for][it] it to[to] be[be] spent spent on on a a particular particular purpose purpose[and] and returned[returned] if[if] unspent,[unspent,] in in which which case case it it may may be[be] regarded regarded as as[restricted.] restricted. Resources Resources expended expended Expenditure Expenditure[is] is recognised recognised on on an an accruals accruals basis basis as as a a liability liability is[is] incurred. incurred. Expenditure Expenditure includes[includes] any any VAT VAT which[which][cannot] cannot[be] be[fully] fully recovered, recovered,[and] and is is classified classified under under headings headings of of the the statement statement of of financial financial activities activities[to] to which which[it] it[relates:] relates: e expenditure expenditure on on raising raising funds funds includes includes the the costs costs of of all all fundraising fundraising activities, activities, events, events, non-charitable non-charitable trading trading activities, activities, and and the the sale sale of of donated donated goods. goods. e expenditure expenditure on on charitable charitable activities activities[includes] includes all[all] costs costs incurred[incurred] by by a a charity charity[in] in undertaking undertaking activities activities[that] that further further its[its] charitable charitable aims[aims][for] for the[the][benefit] benefit[of] of[its] its beneficiaries, beneficiaries, including including those those support support costs costs and[and] costs costs relating relating to to the the governance governance of of the the charity charity apportioned apportioned to to charitable charitable activities. activities. 

- e other other expenditure expenditure includes[includes] all[all] expenditure expenditure that that is is neither[neither] related[related] to to raising raising funds funds for for the the charity charity nor nor[part] part[of] of[its] its expenditure expenditure on on charitable charitable activities. activities. 

- All All costs costs are are allocated allocated to[to] expenditure expenditure categories categories[reflecting] reflecting the the use use of of the the resource. resource. Direct Direct costs costs attributable attributable to[to] a a single single activity[activity] are are[allocated] allocated directly[directly][to] to that that activity. activity. Shared Shared costs costs are are apportioned apportioned between between the[the] activities activities they they contribute[contribute] to[to] on on a a reasonable, reasonable, justifiable justifiable and and consistent[consistent][basis.] basis. 

## Tangible Tangible[assets] assets 

> Tangible Tangible assets assets are are initially initially recorded recorded at at cost, cost, and and subsequently subsequently stated stated at at cost cost less less any any accumulated accumulated depreciation depreciation and[and] impairment impairment losses.[losses.] 

> Depreciation Depreciation Depreciation Depreciation is is calculated calculated so so as as to to write write off off the the cost cost or or valuation valuation of of an an asset, asset, less less its its residual residual value, value, over over[the] the useful useful economic economic life[life] of[of][ that] that asset asset as as[follows:] follows: Plant Plant and and machinery machinery - 20% 20% straight straight line line Equipment Equipment - 33% 33% straight straight line line 

8 8 



## West West[Wales] Wales Rivers[Rivers] Trust Trust Company Company Limited Limited[by] by Guarantee Guarantee Notes Notes to[to] the the[Financial] Financial Statements Statements (continued)[(continued)] Year Year ended ended 31[31] March March 2024 2024 

## 3. 3. Accounting Accounting policies policies[(continued)] (continued) 

> Impairment Impairment[of] of fixed[ fixed] assets[assets] 

> A A review review for[for] indicators indicators[of] of impairment impairment is[is] carried carried[out] out[at] at each[each] reporting[reporting] date,[date,][with] with the[the] recoverable recoverable 

> amount amount being[being] estimated estimated where where such[such] indicators indicators[exist.] exist. Where[Where] the the carrying carrying value value exceeds exceeds the the recoverable recoverable[amount,] amount, the[the] asset asset is[is] impaired impaired[accordingly.] accordingly.[Prior] Prior[impairments] impairments are[are][also] also reviewed[reviewed] for[for] possible possible reversal reversal at[at] each each reporting reporting date. date. 

## Financial Financial instruments instruments 

A A financial financial asset asset or or a a financial financial[liability] liability is[is][recognised] recognised only[only] when[when] the[the][entity] entity becomes[becomes] a[a][party] party[to] to[the] the contractual contractual provisions provisions of of the the instrument. instrument. 

> Basic Basic financial financial instruments instruments are are initially[initially] recognised recognised at at the the amount amount receivable receivable or or paable paable including including any any[related] related[transaction] transaction costs,[costs,] unless[unless][the] the[arrangement] arrangement[constitutes] constitutes[a] a financing[financing] transaction,[transaction,][where] where it it is is recognised recognised[at] at the the present present value value[of] of[the] the future future payments payments discounted discounted at at a a market market rate rate of of interest interest[for] for a a similar similar debt[debt][instrument.] instrument. 

Current Current assets assets and and current current liabilities liabilities are are subsequently subsequently measured measured at at the the cash cash or or other other consideration consideration expected[expected][to] to be[be][paid] paid or or received[received][and] and not[not] discounted. discounted. Defined Defined contribution contribution plans plans Contributions Contributions[to] to defined defined contribution contribution plans plans are are recognised[recognised] as as an an expense expense[in] in[the] the period[period][in] in[which] which the the related related service service is is provided. provided. Prepaid Prepaid contributions contributions are are recognised recognised as as an an asset asset to[to][the] the[extent] extent that that the the prepayment prepayment will will[lead] lead[to] to a a[reduction] reduction[in] in future future payments payments or or a a cash cash[refund.] refund. 

> 4. 4. Limited Limited by by guarantee guarantee West West Wales Wales Rivers[Rivers] Trust Trust is[is] a a company company[limited] limited[by] by[guarantee] guarantee[and] and[accordingly] accordingly[does] does[not] not[have] have a[a] share share[capital.] capital. 

> Every Every member member of[of] the[the] company company undertakes undertakes to to contribute contribute such such amount amount as as may may be be required required not not 

> exceeding exceeding £10[E] 10[to] to the[the] assets assets[of the] of the charitable[charitable] company company[in] in[the] the[event] event of[of] it[it] being being[wound] wound up up[while] while he[he] 

> or or she she[is] is a a member, member, or or within within one one year year after[after][he] he or[or] she[she] ceases ceases[to] to[be] be a[a] member.[member.] 

5. 5. Donations Donations and[and] legacies[legacies] 

||||||Unrestricted<br>Funds<br>Unrestricted<br>Funds|Restricted <br>Funds<br>Restricted <br>Funds|Total Funds<br>2024<br> Total Funds<br>2024|
|---|---|---|---|---|---|---|---|
||||||£|£|£|
|Donations<br>Donations||||||||
|Donations <br>Donations|and <br> and|in <br> in|kind <br> kind|contributions<br> contributions|5,670<br>5,670|1,740<br>1,740|7,410<br>7,410|
|Grants<br>Grants||||||||
|Grants<br>Grants|||||19,844<br>19,844|957,885<br>957,885|977,729<br>977,729|
||||||25,514<br>25,514|959,625<br>959,625|985,139<br>985,139|



## lc i 

9 9 



## West West Wales[Wales][Rivers] Rivers Trust Trust 

## Company Company Limited Limited[by] by Guarantee Guarantee 

## Notes Notes[to] to the the[Financial] Financial Statements Statements (continuea)[(continued)] 

## Year Year ended ended 31[31] March March 2024 2024 

|5.<br>5.|Donationsand legacies (continued)<br>Donations and legacies (continued)||||||
|---|---|---|---|---|---|---|
|||||Unrestricted<br>Unrestricted|Restricted<br>Restricted|Total Funds<br>Total Funds|
|||||Funds<br>Funds|Funds<br>Funds|2023<br>2023|
|||||£|£|£|
||Donations<br>Donations||||||
||Donations and in kind contributions<br>Donations and in kind contributions|||5,587<br>5,587|-|5,587<br>5,587|
||Grants<br>Grants||||||
||Grants<br>Grants|||21,500<br>21,500|407,412<br>407,412|428,912<br>428,912|
|||||27,087<br>27,087|407,412<br>407,412|434,499<br>434,499|
|6.<br>6.|Other income<br>Other income||||||
|||Restricted<br>Restricted|Total Funds<br>Total Funds||Restricted<br>Restricted|Total Funds<br>Total Funds|
|||Funds<br>Funds||2024<br>2024|Funds<br>Funds|2023<br>2023|
|||£||£|$|£|
||Other income<br>Other income|4,615<br>4,615||4,615<br>4,615|20,500<br>20,500|20,500<br>20,500|
|7.<br>7.|Expenditure on charitable activities by fund type<br>Expenditure on charitable activities by fund type||||||
|||||Unrestricted<br>Unrestricted|Restricted<br>Restricted|Total Funds<br>Total Funds|
|||||Funds<br>Funds|Funds<br>Funds|2024<br>2024|
|||||a|2|£|
||Habitat improvementand education<br>Habitat improvement and education|||30,504<br>30,504|710,197<br>710,197|740,701<br>740,701|
||Support costs<br>Support costs|||-|-|-|
|||||30,504<br>30,504|710,197<br>710,197|740,701<br>740,701|
|||||Unrestricted<br>Unrestricted|Restricted<br>Restricted|Total Funds<br>Total Funds|
|||||Funds<br>Funds|Funds<br>Funds|2023<br>2023|
|||||e|£|£5|
||Habitat improvementand education<br>Habitat improvement and education|||19,866<br>19,866|369,033<br>369,033|388,899<br>388,899|
||Support costs<br>Support costs|||400<br>400|-|400<br>400|
|||||20,266<br>20,266|369,033<br>369,033|389,299<br>389,299|
|8.<br>8.|Expenditure on charitable activities by activity type<br>Expenditure on charitable activities by activity type||||||
|||||Activities<br>Activities|||
|||||undertaken<br>undertaken|Total funds<br>Total funds|Total fund<br>Total fund|
|||||directly<br>directly|2024<br>2024|2023<br>2023|
|||||£|£|£|
||Habitat improvementand education<br>Habitatimprovementandeducation|||740,701<br>740,701|740,701<br>740,701|389,299<br>389,299|



10 10 



> West West Wales Wales Rivers Rivers Trust Trust Company Company Limited Limited[by] by Guarantee Guarantee 

## Notes Notes[to] to the[the][Financial] Financial Statements Statements (continued)[(continued)] 

## Year Year ended ended 31[31] March March 2024 2024 

|9.<br>9.|Net income<br>Net income|||
|---|---|---|---|
||Net income is stated after charging/(crediting):<br>Net income is stated after charging/(crediting):|||
|||2024<br>2024|2023<br>2023|
|||£|£|
||Depreciation of tangible fixed assets<br>Depreciation oftangible fixed assets|2,754<br>2,754|1 ,383<br>1,383|
|10.<br>10.|Independent examination fees<br>Independent examination fees|||
|||2024<br>2024|2023<br>2023|
|||£|2|
||Fees payable to the independent examiner for:<br>Fees payable to the independent examiner for:|||
||Independent examination of the financial statements<br>Independent examination ofthe financial statements|400<br>400|400<br>400|
|11.<br>11.|Staff costs<br>Staff costs|||
||The total staff costs and employee benefits for the reporting period are analysed as <br>The total staff costs and employee benefits for the reporting period are analysed as||follows:<br> follows:|
|||2024<br>2024|2023<br>2023|
|||£|£|
||Wages and salaries<br>Wages and salaries|170,177<br>170,177|111,700<br>111,700|
||Social security costs<br>Social security costs|16,822<br>16,822|11,581<br>11,581|
||Employer contributions to pension plans<br>Employer contributions to pension plans|14,850<br>14,850|10,053<br>10,053|
|||201 ,849<br>201,849|133,334<br>133,334|



|The average head count of employees during the year was 6 (2023: 4). The average <br>full-time equivalent employees during the year is analysed as follows:<br>The average head count of employees during the year was 6 (2023: 4). The average <br>full-time equivalent employees during the year is analysed as follows:|The average head count of employees during the year was 6 (2023: 4). The average <br>full-time equivalent employees during the year is analysed as follows:<br>The average head count of employees during the year was 6 (2023: 4). The average <br>full-time equivalent employees during the year is analysed as follows:|number <br> number|of<br> of|
|---|---|---|---|
||2024<br>2024|2023<br>2023||
||No.<br>No.|No.<br>No.||
|Chief Executive Officer<br>Chief Executive Officer|1<br>1||1<br>1|
|Senior Executive Officer<br>Senior Executive Officer|1||1<br>4|
|Project Officers<br>Project Officers|4<br>4||2<br>2|
||6<br>6||4<br>4|



No No employee employee received received employee employee benefits benefits of of more more than than €60,000 £60,000 during during the the year year (2023: (2023: Nil). Nil). 12. 12. Trustee Trustee remuneration remuneration and and expenses expenses No No remuneration remuneration or or other other benefits benefits from from employment employment with with the the charity charity or or a a related related entity entity were were received received by by the the trustees. trustees. 

No No trustee trustee expenses expenses have have been been incurred. incurred. 

11 11 



West West Wales Wales Rivers Rivers Trust Trust 

## Company Company Limited Limited by[by] Guarantee Guarantee Notes Notes[to] to the the[Financial] Financial Statements Statements[(continued)] (continueg) 

## Year Year ended ended[31] 31 March March[2024] 2024 

## 13. 13. Tangible Tangible[fixed] fixed assets assets 

|||Plant and<br>Plant and|||
|---|---|---|---|---|
|||machinery<br>machinery|Equipment<br>Equipment|Total<br>Total|
|||5|£|£|
||Cost<br>Cost||||
||At 1 April 2023<br>At 1 April 2023|10,936<br>10,936|5,759<br>5,759|16,695<br>16,695|
||Additions<br>Additions|6,067<br>6,067|10,186<br>10,186|16,253<br>16,253|
||At 31 March 2024<br>At 31 March 2024|17,003<br>17,003|15,945<br>15,945|32,948<br>32,948|
||Depreciation<br>Depreciation||||
||At 1 April 2023<br>Charge for the year<br>At1 April 2023<br>Charge for the year|8,879<br>1 ,028<br>8,879<br>1,028|3,983<br>1,726<br>3,983<br>1,726|12,862<br>2,754<br>12,862<br>2,754|
||At 31 March 2024<br>At 31 March 2024|9,907<br>9,907|5,709<br>5,709|15,616<br>15,616|
||Carrying amount<br>Carrying amount||||
||At 31 March 2024<br>At 31 March 2024|7,096<br>7,096|10,236<br>10,236|17,332<br>17,332|
||At 31 March2023<br>At 31 March 2023|2,057<br>2,057|1 ,776<br>1,776|3,833<br>3,833|
|14.<br>14.|Debtors<br>Debtors||||
||||2024<br>2024|2023<br>2023|
||||£|£|
||Trade debtors<br>Trade debtors||97,580<br>97,580|81,863<br>81,863|
|15.<br>15.|Creditors: amounts falling due within one year<br>Creditors: amounts falling due within one year||||
||||2024<br>2024|2023<br>2023|
||||£|7a|
||Trade creditors<br>Trade creditors||79,583<br>79,583|530<br>530|
||Social security and othertaxes<br>Social security and other taxes||13,439<br>13,439|6,871<br>6,871|
||||93,022<br>93,022|7,401<br>7,401|



## 16. 16. Pensions Pensions and and[other] other post post retirement retirement[benefits] benefits 

## Defined Defined contribution contribution plans plans 

> The The amount amount recognised recognised in in income income or or expenditure expenditure as as an an expense expense in in relation relation to to defined defined contribution contribution plans plans was was £14,850 214,850 (2023: £10,053). 

12 12 



## West West[Wales] Wales Rivers[Rivers] Trust Trust Company Company Limited Limited[by] by Guarantee Guarantee Notes Notes[to] to the the[Financial] Financial Statements Statements[(continued)] (continueg) Year Year ended ended 31[31] March March[2024] 2024 

|17.<br>17.|Analysis of charitable funds<br>Analysis of charitable funds|Analysis of charitable funds<br>Analysis of charitable funds|Analysis of charitable funds<br>Analysis of charitable funds|||||||
|---|---|---|---|---|---|---|---|---|---|
||Unrestricted funds<br>Unrestricted funds|||||||||
|||||At|||At 31 <br>At 31||March<br> March|
||||1 April 2023<br>1 April 2023||Income<br>Income|Expenditure<br>Expenditure|Transfers<br>Transfers||2024<br>2024|
|||||£|£|£|£||£|
||General funds<br>General funds|||51 ,804<br>51,804|25,514<br>25,514|(30,504)<br>(30,504)|79,532<br>79,532|126,346<br>126,346||
|||||At||||At 31 March<br>At31March||
||||1 April 2022<br>1 April 2022||Income<br>Income|Expenditure<br>Expenditure|Transfers<br>Transfers||2023<br>2023|
||General funds<br>General funds|||9,736<br>£<br>9,736|27,087<br>£<br>27,087|(20,266)<br>Pa<br>(20,266)|35,247<br>E<br>35,247||51,804<br>£<br>51,804|
||Restricted funds<br>Restricted funds|||||||||
|||||At||||At 31<br>At 31|March<br> March|
||||1 April 2023<br>1 April 2023||Income<br>Income|Expenditure<br>Expenditure|Transfers<br>Transfers||2024<br>2024|
|||||£|£|£|£||£|
||Adopt A Tributary<br>AdoptA Tributary|||20,247<br>20,247|241<br>241|(3, 103)<br>(3,103)|-||17,385<br>17,385|
||Brianne and Tywi<br>Mitigation<br>Brianne and Tywi<br>Mitigation|||148,155<br>148,155|-|(25,985)<br>(25,985)|-|122,170<br>122,170||
||DwrCymru Welsh<br>Water<br>Fisheries Habitat<br>Dwr Cymru Welsh<br>Water<br>Fisheries Habitat|||(1 ,610)<br>(1,610)|-|(59)<br>(59)|1 ,669<br>1,669||-|
||Restoration Plans<br>Restoration Plans|||9,523<br>9,523|-|-|(9,523)<br>(9,523)||-|
||Inactive Funds<br>Nature Newvork Fund<br>Inactive Funds<br>Nature Network Fund|||(2,225)<br>(2,344)<br>(2,225)<br>(2,344)|322,925<br>-<br>322,925|(151 ,547)<br>-<br>(151,547)|2,225<br>2,225<br>-|169,034<br>-<br>169,034||
||Princes Gate Water Ltd<br>Princes Gate Water Ltd|||(5,499)<br>(5,499)|8,121<br>8,121|(174)<br>(174)|(2,448)||-|
||Rheidol Landfill Tax<br>Rheidol Landfill Tax|||-|-|-|-||-|
||StrategicAllocation<br>Fund (2)<br>SMS N2K<br>Teifi Landfill Tax<br>Strategic Allocation<br>Fund (2)<br>SMS N2K<br>Teifi Landfill Tax|||2,108<br>464<br>22,605<br>2,108<br>464<br>22,605|-<br>-<br>-|(165)<br>(35,024)<br>-<br>(165)<br>(35,024)|(2, 108)<br>14<br>(2,108)<br>14<br>-||313<br>(12,419)<br>=<br>313<br>(12,419)|
||Carmarthenshire CC<br>Carmarthenshire CC|-<br> -||||||||
||Local Nature<br>Local Nature|||||||||
||Partnership<br>Partnership|||813<br>813|-|(196)<br>(196)|(438)<br>(438)||179<br>179|
||Brecon Beacons<br>Brecon Beacons|||||||||
||National Park<br>National Park|||784<br>784|-|(265)<br>(265)|(276)<br>(276)||243<br>243|
||Millin Eels<br>Millin Eels|||-|-|-|-||-|
||Swansea CC<br>- Gower<br>Swansea CC - Gower|||||||||
||AONB<br>AONB|||19,009<br>19,009|5,000<br>5,000|(9,856)<br>(9,856)|(14,153)<br>(14,153)||-|
||Teifi Uchaf<br>Teifi Uchaf|||-|-|-|-||-|
||BART<br>BART|||-|-|-|~||-|
||Nevern CLEAN<br>Nevern CLEAN|||-|-|-|-||=|
||Schroeder Outfall Safari<br>Schroeder Outfall Safari|||3,312<br>3,312|-|(67)<br>(67)|(3,012)<br>(3,012)||233<br>233|
||DCWN<br>- Eels<br>DCWW - Eels|||-|-|-|-||-|
||DCVWV<br>- Wetlands<br>GarfieldWeston<br>DCWW -Wetlands<br>GarfieldWeston|||35,133<br>-<br>35,133|28,613<br>28,613<br>-|(7,651)<br>—-<br>(7,651)|(18,675)<br>(18,675)<br>-||9,938<br>27,482<br>9,938<br>27,482|



13 13 



## West West Wales Wales Rivers Rivers Trust Trust Company Company Limited Limited[by] by Guarantee Guarantee Notes Notes[to] to the the Financial[Financial] Statements Statements (continueg)[(continued)] 

## Year Year ended ended[31] 31 March March 2024 2024 

|17.<br>17.|Analysis of charitable funds <br>Analysis of charitable funds|(continued)<br> (continued)|||||
|---|---|---|---|---|---|---|
||Nant Clais<br>Nant Clais|6,500<br>6,500|11,500<br>11,500|(7,251)<br>(7,251)|-|10,749<br>10,749|
||National Lottery<br>- Rivers<br>National Lottery - Rivers||||||
||For Communities<br>For Communities|9,700<br>9,700|-|(4,982)<br>(4,982)|(4,718)<br>(4,718)|-|
||PRAM<br>PRAM|4,251<br>4,251|98,400<br>98,400|(68,280)<br>(68,280)|-|34,371<br>34,371|
||StrategicAllocation<br>Strategic Allocation||||||
||Fund (3)<br>The Swire Charitable<br>Fund (3)<br>The Swire Charitable|7,426<br>7,426|175,459<br>175,459|(254,968)<br>(254,968)|(2,745)<br>(2,745)|(74,828)<br>(74,828)|
||Trust<br>NRW<br>- Syfynwy<br>Trust<br>WWF<br>NRW - Syfynwy|20,202<br>(9,665)<br>20,202<br>(9,665)|11,501<br>-<br>11,501|(473)<br>(473)<br>-|(19,729)<br>(1 ,836)<br>(19,729)<br>(1,836)|-<br>-|
||Knotweed Survey<br>Knotweed Survey|2,356<br>2,356|-|-|(2,356)<br>(2,356)|-|
||NRW<br>- sandy Haven<br>Dcww<br>- Afan Barriers<br>NRW-Sandy Haven<br>DCWW -Afan Barriers|(450)<br>1 ,925<br>(450)<br>1,925|-<br>-|-<br>-|450<br>(1 ,925)<br>450<br>(1,925)|-<br>-|
||Adopt a Tributary<br>Adopt a Tributary||||||
||Heritage Lottery Fund<br>Heritage Lottery Fund|-|38,628<br>38,628|(21,646)<br>(21,646)|-|16,982<br>16,982|
||Carmarthen CC Agri<br>Carmarthen CC Agri||||||
||Adopt<br>Ceredigion CC Local<br>Adopt<br>Ceredigion CC Local|-|4,461<br>4,461|(3,805)<br>(3,805)|(656)<br>(656)|-|
||Nature Partnership<br>Nature Partnership|-|4,568<br>4,568|(224)<br>(224)|-|4,344<br>4,344|
||CircularAgricultural<br>Circular Agricultural||||||
||Plastics<br>Plastics|-|5,697<br>5,697|(4,450)<br>(4,450)|-|1 ,247<br>1,247|
||DC\MN Citizen Science<br>Eels<br>Esmee Fairburn Trust<br>DCVWWCitizen Science<br>DCWWEels<br>Esmee Fairburn Trust|(12,593)<br>-<br>(12,593)<br>-|10,000<br>58,500<br>10,000<br>-<br>58,500|(9,603)<br>(6,082)<br>(20,325)<br>(9,603)<br>(6,082)<br>(20,325)|18,675<br>-<br>18,675<br>-|397<br>38,175<br>397<br>-<br>38,175|
||Lougher LDTCS<br>Lougher LDTCS|-|39,990<br>39,990|(3,415)<br>(3,415)|-|36,575<br>36,575|
||NutrientManagment<br>Nutrient Managment||||||
||Board<br>Board|~|26,140<br>26,140|(10,756)<br>(10,756)|-|15,384<br>15,384|
||NRW Dulais Balsam<br>NRW Dulais Balsam|-|4,615<br>4,615|(1 ,454)<br>(1,454)|(3,161)<br>(3,161)|-|
||NRW INNS 6<br>NRWINNS 6|-|4,590<br>4,590|(1,171)<br>(1,171)|-|3,419<br>3,419|
||PRAM Extra<br>PRAM Extra|-|1 1<br>,479<br>11,479|(6,541)<br>(6,541)|-|4,938<br>4,938|
||Pram Fencing<br>Pram Fencing|-|4,578<br>4,578|(3,646)<br>(3,646)|(932)<br>(932)|-|
||SPF Carmarthenshire<br>SPF Carmarthenshire||||||
||Adopt a Tributary<br>SPF Ceredigion Adopt a<br>Adopta Tributary<br>SPF Ceredigion Adopt a|-|16,331<br>16,331|(16,430)<br>(16,430)|-|(99)<br>(99)|
||Tributary<br>SPF Neath Interns<br>Tributary<br>SPFNeathInterns|-<br>-|13,150<br>11,535<br>13,150<br>11,535|(5,312)<br>(1,159)<br>(5,312)<br>(1,159)|-<br>-|7,838<br>10,376<br>7,838<br>10,376|



14 14 




**----- Start of picture text -----**<br>
|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|West|West|Wales|[Wales]|[Rivers]|Rivers|Trust|Trust|
|Company|Company|Limited|Limited|by|[by]|Guarantee|Guarantee|
|Notes|Notes|to|[to]|the|the|[Financial]|Financial|Statements|Statements|[(continued)]|(continued)|
|Year|Year|ended|ended|[31]|31|March|March|2024|[2024]|
|sa|a|ee|ee|ee|Ee|ee|Seer eee|
|17.|17.|Analysis|Analysis|of|[of]|charitable|charitable|[funds]|funds|(continued)|[(continued)]|
|SPF|SPF|Pembrokeshire|[Pembrokeshire]|
|Adopt|Adopt a|a|Tributary|Tributary|_|14,587|14,587|(17,330)|(17,330)|-|(2,|(2,743)|743)|
|Swansea|Swansea|LNP|LNP|Barrier|Barrier|
|Project|Project|-|8,226|8,226|(4,904)|(4,904)|-|3,322|3,322|
|Targeted|Targeted|Finanace|Finanace|Funs|Funs|-|14,005|14,005|-|(14,005)|(14,005)|-|
|Teifi|-reifi|DC|DC|CC|CC|-|10,000|10,000|-|-|10,000|10,000|
|Carron|Carron|[Estate]|Estate|-|~|(311)|(311)|311|311|-|
|Cwmarian|Cwmarian|Nevern|Nevern|-|1|1,400|,400|(1|(1,267)|[,267)]|-|133|133|
|Gibbs|Gibbs|Trust|Trust|500|500|-|(320)|(320)|(180)|(180)|-|
|280,627|280,627|964,240|964,240|(710,197)|(710,197)|(79,532)|(79,532)|455,138|455,138|
|At|At|At|[31]|31|March|March|
|1|1|April|April|2022|2022|Income|Income|Expenditure|Expenditure|Transfers|Transfers|2023|2023|
|bs|£|£|E|£|
|Adopt|Adopt A|A|Tributary|Tributary|200|200|20,850|20,850|(803)|(803)|-|20,247|20,247|
|Brianne|Brianne|[and]|and|[Tywi]|Tywi|
|Mitigation|Mitigation|192,943|192,943|-|(24,788)|(24,788)|(20,000)|(20,000)|148,155|148,155|
|Dwr|Dwr|Cymru|Cymru|Welsh|Welsh|
|Water|Water|(1)|10,500|10,500|(12,109)|(12,109)|-|(1|(1,610)|,610)|
|Fisheries|Fisheries|Habitat|Habitat|
|Restoration|Restoration|Plans|Plans|9,770|9,770|-|(247)|(247)|-|9,523|9,523|
|Inactive|Inactive|Funds|Funds|9,860|9,860|-|-|(12,085)|(12,085)|(2,225)|(2,225)|
|Nature|Nature|Network|Network|Fund|Fund|(31,351)|(31,351)|127,267|127,267|(98,260)|(98,260)|-|(2,344)|(2,344)|
|Princes|Princes|Gate|Gate Water|Water|[Ltd]|Ltd|(2,341)|(2,341)|-|(3,|(3,158)|158)|-|(5,499)|(5,499)|
|Rheidol|Rheidol|Landfill|Landfill|Tax|Tax|(1,706)|(1,706)|-|-|1,706|1,706|-|
|Strategic|Strategic|Allocation|Allocation|
|Fund|Fund|[(2)]|(2)|13,733|13,733|68,416|68,416|(80,041)|(80,041)|-|2,108|2,108|
|SMS|SMS|N2K|N2K|629|629|-|(165)|(165)|-|464|464|
|Teifi|Teifi|Landfill|Landfill|Tax|Tax|39,377|39,377|-|(16,772)|(16,772)|-|22,605|22,605|
|-|
|Carmarthenshire|Carmarthenshire|CC|CC|-|
|Local|Local|[Nature]|Nature|
|Partnership|Partnership|1,009|1,009|-|(196)|(196)|-|813|813|
|Brecon|Brecon|Beacons|Beacons|
|National|National|Park|Park|1,049|1,049|-|(265)|(265)|-|784|784|
|Millin|Millin|Eels|Eels|(629)|(629)|-|-|629|629|-|
|-|
|Swansea|Swansea|CC|CC|-|Gower|Gower|
|AONB|AONB|20,767|20,767|-|(1,758)|(1|,758)|-|19,009|19,009|
|Teifi|Teifi|Uchaf|Uchaf|(178)|(178)|-|-|178|178|-|
|BART|BART|(397)|(397)|-|-|397|397|-|
|Nevern|Nevern|CLEAN|CLEAN|(225)|(225)|-|-|225|225|-|
|Schroeder|Schroeder|Outfall|Outfall|Safari|Safari|4,486|4,486|376|376|(1,550)|(1|,550)|-|3,312|3,312|
|DCMV|DCWW-|-|Eels|Eels|-|-|(12,593)|(12,593)|-|(12,593)|(12,593)|
|Dcvwv|DCWW|-|-|Wetlands|Wetlands|-|14,306|14,306|(8,009)|(8,009)|(6,297)|(6,297)|-|

**----- End of picture text -----**<br>


## (ee 

15 15 



## West West Wales Wales Rivers Rivers Trust Trust Company Company Limited Limited by[by] Guarantee Guarantee Notes Notes to[to] the the Financial[Financial] Statements Statements[(continued)] (continued) Year Year ended ended[31] 31 March March 2024 2024 

|17.<br>17.|Analysis ofcharitable funds <br>Analysis of charitable funds|(continued)<br> (continued)|||||
|---|---|---|---|---|---|---|
||Garfield Weston<br>Garfield Weston|-|41,000<br>41,000|(5,867)<br>(5,867)|-|35,133<br>35,133|
||Nant Clais<br>Nant Clais|-|6,500<br>6,500|-|-|6,500<br>6,500|
||National Lottery<br>- Rivers<br>National Lottery - Rivers||||||
||ForCommunities<br>For Communities|-|9,700<br>9,700|-|-|9,700<br>9,700|
||PRAM<br>PRAM|-|4,998<br>4,998|(747)<br>(747)|-|4,251<br>4,251|
||Strategic Allocation<br>Strategic Allocation||||||
||Fund (3)<br>Fund (3)|-|95,112<br>95,112|(87,686)<br>(87,686)|-|7,426<br>7,426|
||The Swire Charitable<br>The Swire Charitable||||||
||Trust<br>Trust|-|21 ,500<br>21,500|(1 ,298)<br>(1,298)|-|20,202<br>20,202|
||WWE|-|-|(9,665)<br>(9,665)|-|(9,665)<br>(9,665)|
||NRW<br>- Syfynwy<br>NRW - Syfynwy||||||
||Knotweed Survey<br>Knotweed Survey|~|4,962<br>4,962|(2,606)<br>(2,606)|-|2,356<br>2,356|
||NRW<br>- Sandy Haven<br>NRW - Sandy Haven|-|-|(450)<br>(450)|-|(450)<br>(450)|
||DCWN<br>- Afan Barriers<br>DCWW- Afan Barriers|-|2,425<br>2,425|-|-|2,425<br>2,425|
||Adopt a Tributary<br>Adopt a Tributary||||||
||Heritage Lottery Fund<br>Heritage Lottery Fund|-|-|-|-|-|
||Carmarthen CC Agri<br>Carmarthen CC Agri||||||
||Adopt<br>Adopt|-|-|-|-|-|
||Ceredigion CC Local<br>Ceredigion CC Local||||||
||Nature Partnership<br>Nature Partnership|-|-|-|-|-|
||CircularAgricultural<br>Circular Agricultural||||||
||Plastics<br>DCWA/ Citizen Science<br>Plastics<br>DCWW Citizen Science|-<br>-|-<br>-|-<br>-|-<br>-|-<br>-|
||DCWN Eels<br>DCWW Eels|-|-|_|-|-|
||Esmee Fairburn Trust<br>Esmee Fairburn Trust|-|-|-|-|-|
||Lougher LDTCS<br>Lougher LDTCS|-|-|-|-|-|
||NutrientManagment<br>Nutrient Managment||||||
||Board<br>Board|-|-|-|-|-|
||NRW Dulais Balsam<br>NRW Dulais Balsam|-|-|-|-|-|
||NRW INNS 6<br>NRW INNS 6|-|-|-|-|-|
||PRAM Extra<br>PRAM Extra|-|-|-|-|-|
||Pram Fencing<br>Pram Fencing|-|-|-|-|-|
||SPF Carmarthenshire<br>SPF Carmarthenshire||||||
||Adopt a Tributary<br>Adopt a Tributary|-|-|-|-|-|
||SPF Ceredigion Adopt a<br>SPF Ceredigion Adopt a||||||
||Tributary<br>Tributary|-|-|-|-|-|
||SPF Neath Interns<br>SPF Neath Interns|-|-|-|-|-|
||SPF Pembrokeshire<br>SPF Pembrokeshire||||||
||Adopt a Tributary<br>Adopt a Tributary|-|-|-|-|-|
||Swansea LNP Barrier<br>Swansea LNP Barrier||||||
||Project<br>Project|-|-|-|-|-|
||Targeted Finanace Funs<br>Targeted Finanace Funs|-|=|=|=|-|
||Teifi DC CC<br>Teifi DC CC|-|-|-|-|-|
||Carron Estate<br>Carron Estate|-|-|-|-|-|
||Cwmarian Nevern<br>Cwmarian Nevern|-|-|-|-|-|
||Gibbs Trust<br>Gibbs Trust|-|-|-|-|-|
|||256,995<br>256,995|427,912<br>427,912|(369,033)<br>(369,033)|(35,247)<br>(35,247)|280,627<br>280,627|



16 16 



## West West Wales[Wales][Rivers] Rivers Trust Trust Company Company Limited Limited[by] by Guarantee Guarantee Notes Notes[to] to the the Financial[Financial] Statements Statements[(continued)] (continueg) 

## Year Year ended ended[31] 31 March March 2024 2024 

## 18. 18. Analysis Analysis[of] of net[net] assets[assets][between] between[funds] funds 

|Analysis [of] [net] [assets] [between] [funds]<br>Analysis of net assets between funds||||
|---|---|---|---|
||Unrestricted<br>Unrestricted|Restricted<br>Restricted|Total Funds<br>Total Funds|
||Funds<br>Funds|Funds<br>Funds|2024<br>2024|
||£|£|£|
|Tangible fixed assets<br>Current assets<br>Creditors less than 1 year<br>Tangible fixed assets<br>Current assets<br>Creditors less than 1 year|1 ,696<br>124,958<br>(308)<br>1,696<br>124,958<br>(308)|15,636<br>532,216<br>(92,714)<br>15,636<br>532,216<br>(92,714)|17,332<br>657,174<br>(93,022)<br>17,332<br>657,174<br>(93,022)|
|Net assets<br>Net assets|126,346<br>126,346|455, 138<br>455,138|5811484<br>581,484|
||Unrestricted<br>Unrestricted|Restricted<br>Restricted|Total Funds<br>Total Funds|
||Funds<br>Funds|Funds<br>Funds|2023<br>2023|
||£|£|£|
|Tangible fixed assets<br>Current assets<br>Creditors less than 1 year<br>Tangible fixed assets<br>Current assets<br>Creditors less than 1 year|516<br>51 ,427<br>(140)<br>516<br>51,427<br>(140)|3,317<br>284,572<br>(7,261)<br>3317<br>284,572<br>(7,261)|3,833<br>335,999<br>(7,401)<br>3,833<br>335,999<br>(7,401)|
|Net assets<br>Netassets|51 ,803<br>51,803|280,628<br>280,628|332,431<br>332,431|



Neen eee eee eee eee eee ee eee eee eee 

17 17 



West West Wales Wales Rivers Rivers Trust Trust Company Company Limited Limited by[by] Guarantee Guarantee Management Management Information Information Year Year ended ended 31[31] March March 2024 2024 

> The The following following pages pages do do not not form form[part] part[of] of the the financial financial statements. statements. 

18 18 



## Detailed Detailed Income Income and and Expenditure Expenditure West West Wales Wales Rivers[Rivers][Trust] Trust For For the the year year ended ended 31 31 March March 2024 2024 

||Core<br>Fund<br>Core<br>Fund|Adopt a<br>Tributary<br>Adopta<br>Tributary|Adopt<br>HLF<br>_—Adopt<br>HLF|Brianne &<br>Tywi<br>Mitigation<br>Briann<br>-“_ <br> 6<br>YW<br>Mitigation|CCC Agri<br>Adopt<br>:<br> CCCAgri<br>Adopt|Ceredigion<br>CC LNP<br>oe<br>Ceredigion<br>ccnp|Circular<br>Agricultural<br>Plastics<br>Circular<br>yivite <br>“9<br>;<br>Plastics|Circular<br>Agricultural<br>Plastics<br>Circular<br>yivite <br>“9<br>;<br>Plastics|DCWW<br> DCWW|DCWW<br>Citizen<br>Science<br>DCWW<br>Citizen<br>'<br>Science|DCWW<br>Eels<br>DCWW<br>Eels|DCWW<br>Wetlands<br>Esmee<br>Fairburn<br>_DCWW__Esmee<br>Wetlands<br>Fairburn|DCWW<br>Wetlands<br>Esmee<br>Fairburn<br>_DCWW__Esmee<br>Wetlands<br>Fairburn|Fisheries<br>Habitat<br>Restoration<br>Plans<br>Fisheries<br>i<br>Habitat<br>Restoration<br>Plans|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Income<br>Income|||||||||||||||
|Donations and in kind contributions<br>Grants<br>Other Revenue<br>Donations and in kind contributions<br>Grants<br>Other Revenue|5.670<br>19,844<br>5,670<br>19,844<br>-|240<br>240<br>-<br>-|38,628<br>-<br>38,628<br>-|-<br>-<br>-|4,461<br>-<br>4,461<br>-|4,568<br>-<br>4,568<br>-||5,697<br>-<br>5,697<br>-|-<br>-<br>-|10,000<br>-<br>10,000<br>-|-<br>-<br>-|28,613<br>-<br>28,613<br>-|58,500<br>-<br>58,500<br>-||
|Total Income<br>Total Income|25,514<br>25,514|240<br>240|38,628<br>38,628|-|4,461<br>4,461|4,568<br>4,568||5,697<br>5,697|-|10,000<br>10,000|-|28,613<br>28,613|58,500<br>58,500||
|Charitable expenditure<br>Direct Expenses<br>River improvement<br>Accountancy fees<br>Advertising & Marketing<br>Bank Fees<br>Charitable expenditure<br>Direct Expenses<br>River improvement<br>Accountancy fees<br>Advertising & Marketing<br>Bank Fees|362<br>668<br>62<br>-<br>362<br>668<br>-<br>62|227<br>50<br>-<br>227<br>-<br>50<br>-|1,389<br>-<br>1,389<br>.<br>-<br>-|22, 120<br>-<br>22,120<br>-<br>-<br>-|200<br>-<br>200<br>.<br>-<br>-|150<br>-<br>150<br>-<br>-<br>-||102<br>-<br>102<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-|9,603<br>-<br>9,603<br>-<br>-<br>-|3,770<br>-<br>3,770<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-|17,575<br>2,750<br>17,575<br>2,750<br>-<br>-<br>-||
|Consulting<br>Depreciation Expense<br>Employers National Insurance<br>General Expenses<br>Insurance<br>IT Software and Consumables<br>Consulting<br>Depreciation Expense<br>Employers National Insurance<br>General Expenses<br>Insurance<br>IT Softwareand Consumables|560<br>329<br>1,282<br>563<br>4,597<br>600<br>560<br>329<br>1,282<br>563<br>4,597<br>600|396<br>128<br>48<br>-<br>396<br>128<br>48<br>-<br>-|2,895<br>190<br>1,159<br>252<br>26<br>2,895<br>190<br>1,159<br>252<br>-<br>26|33<br>322<br>-<br>33<br>322<br>-<br>-<br>-|278<br>92<br>-<br>-<br>278<br>-<br>-<br>92|74<br>-<br>74<br>-<br>-<br>-<br>-||17<br>364<br>-<br>17<br>364<br>-<br>-<br>-|59<br>-<br>59<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-|198<br>-<br>-<br>198<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-||
|Legal Expenses<br>Office and Meeting Expenses<br>Pensions Costs<br>Printing & Stationery<br>Protective Clothing<br>Recruitment Costs<br>Rent<br>Legal Expenses<br>Office and Meeting Expenses<br>Pensions Costs<br>Printing & Stationery<br>Protective Clothing<br>Recruitment Costs<br>Rent|154<br>465<br>1 ,322<br>264<br>331<br>149<br>226<br>154<br>465<br>1,322<br>264<br>331<br>149<br>226|112<br>3<br>149<br>528<br>-<br>-<br>112<br>3<br>-<br>149<br>528|15<br>71<br>1 ,094<br>152<br>507<br>15<br>71<br>1,094<br>152<br>507<br>-<br>-|32<br>280<br>9<br>-<br>32<br>280<br>9<br>-<br>-<br>-|249<br>.<br>.<br>249<br>-<br>-<br>.<br>-|-<br>-<br>-<br>-<br>-<br>-<br>-||269<br>239<br>-<br>-<br>269<br>-<br>.<br>239<br>-|-<br>-<br>-<br>-<br>-<br>.<br>-|-<br>-<br>-<br>-<br>-<br>-<br>-|175<br>-<br>-<br>175<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-<br>-||
|Repairs & Maintenance<br>Salaries<br>Staff Training<br>Subscriptions<br>Telephone & Internet<br>Travel<br>- National<br>Repairs & Maintenance<br>Salaries<br>StaffTraining<br>Subscriptions<br>Telephone & Internet<br>Travel - National|12,658<br>1,043<br>2,500<br>446<br>1,923<br>-<br>12,658<br>1,043<br>2,500<br>446<br>1,923|19<br>1,240<br>205<br>19<br>1,240<br>-<br>-<br>-<br>205|90<br>12,150<br>380<br>111<br>1,166<br>90<br>12,150<br>380<br>-<br>111<br>1,166|3,115<br>74<br>-<br>3,115<br>-<br>-<br>-<br>74|2,771<br>214<br>-<br>2,771<br>-<br>-<br>-<br>214|-<br>-<br>-<br>-<br>-<br>-||3,458<br>-<br>3,458<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>-<br>-|1,940<br>-<br>1,940<br>-<br>-<br>-<br>-|-<br>-<br>-<br>-<br>=<br>-|-<br>-<br>-<br>-<br>5<br>-||
|Total charitable expenditure<br>Total charitable expenditure|30,503<br>30,503|3,104<br>3,104|21 ,646<br>21,646|25,985<br>25,985|3,805<br>3,805|224<br>224||4,450<br>4,450|59<br>59|9,603<br>9,603|6,082<br>6,082|-|20,325<br>20,325||
|Surplus/Deficit for the year<br>Surplus/Deficit fortheyear|4,989<br>4,989|2,864<br>2,864|16,981<br>16,981|25,985<br>25,985|656<br>656|4,345<br>4,345||1,247<br>1,247|59<br>59|397<br>397|6,082<br>6,082|28,613<br>28,613|38,175<br>38,175||
|Balance b/f<br>Balance bif|20,249<br>51,803<br>148,155<br>1,610<br>12,593<br>9,523<br>a<br>Fe<br>TTD||||||||||||||
|Transfers between funds<br>Transfers between funds|79,532<br>79,532||||656<br>656||||1,669<br>1,669||18,675<br>18,675|18,675<br>18,675||9,523<br>9,523|
|Balance c/f<br>Balancecif|126 346<br>126,346|17 385<br>17,385|16 981<br>16,981|122 170<br>122,170|0|4 345<br>4,345||1 247<br>1,247|0|397<br>397|0|9 938<br>9,938|38 175<br>38,175|0|



page page[19] 19 



## Detailed Detailed Income Income and and Expenditure Expenditure West West Wales Wales Rivers[Rivers] Trust[Trust] For For the the year year ended ended 31 31 March March 2024 2024 

|Garfield<br>Weston<br>Garfield<br>Weston|Lougher<br>LDTCS<br>Lougher<br>LDTCS|Nant <br>Clais<br>Nant <br>Clais|National<br> Lottery Rivers<br>For<br>National<br> Lottery Rivers<br>For|Nature<br>Network<br>Fund<br>Nature<br>Network<br>Fund|Sediment<br>NMB <br>NMB <br>Sediment|NRW Dulais<br>Balsam<br> NRWDulais <br>Balsam|NRW INNS<br>6<br> NRWINNS<br>6|PRAM<br>PRAM|Pram<br>Extra<br>Pram<br>Extra|PRAM<br>Fencing<br>PRAM<br>Fencing|Princes<br>Gate Water<br>Princes<br> GateWater|SAF 2<br>SAF2|SAF 3<br>SAF3|Small<br>Grants<br>Small<br>Grants|SMS<br>N2K<br>SMS<br>N2K|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||Communities<br>Communities|Swansea<br>Swansea||||||||||||
|-<br>z<br>-|39,990<br>-<br>39,990<br>-|1,500<br>10,000<br>1,500<br>10,000<br>-|-<br>-<br>“|322,925<br>-<br>322,925<br>-|26,140<br>-<br>26,140<br>-|4,615<br>-<br>-<br>4,615|4,590<br>-<br>4,590<br>-|98,400<br>-<br>98,400<br>-|11<br>,479<br>-<br>11,479<br>-|4,578<br>-<br>4,578<br>-|8, 121<br>-<br>8,121<br>-||175,459<br>-<br>175,459<br>-|6,400<br>-<br>6,400<br>-|-<br>-<br>-|
|-|39,990<br>39,990|11,500<br>11,500|-|322,925<br>322,925|26,140<br>26,140|4,615<br>4,615|4,590<br>4,590|98,400<br>98,400|1 1 ,479<br>11,479|4,578<br>4,578|8,121<br>8,121||175,459<br>175,459|6,400<br>6,400|-|
|-|-|4,132<br>4,132|35<br>35|137,478<br>137,478|3,400<br>3,400|-|-|53,984<br>53,984|5,533<br>5,533|-|-||209,541<br>209,541|1,846<br>1,846|-|
|77<br>77|-|-|-|-|-|-|-|-|“|2|-||35<br>35|=|=|
|‘|7||7|-|200<br>200|2|7|-|=|.|.|||-|.|
|-|32<br>32|-|-|9<br>9|4<br>4|-|-|34<br>34|-|-|E||7|528<br>528|165<br>165|
|448<br>448<br>:|253<br>40<br>253<br>40|234<br>234<br>=|364<br>364<br>-|1,157<br>1,157<br>=|445<br>445<br>=|106<br>106<br>:|47<br>47<br>-|1,025<br>1,025<br>=|72<br>2<br>-|269<br>269<br>-|15<br>15<br>-||3,719<br>100<br>3,719<br>100|777<br>777<br>=|-<br>=|
|2,238<br>2,238|-|-|-|56<br>56|-|-|-|141<br>141|-|-|-||-|-|-|
|-|-|-|402<br>402|-|-|-|-|-|-|-|-||-|52<br>52|-|
|382<br>382<br>-|221<br>221<br>.|214<br>214<br>-|311<br>37<br>311<br>37|1,020<br>1,020<br>-|188<br>188<br>-|108<br>6<br>108<br>6|41<br>45<br>41<br>45|960<br>350<br>960<br>350|68<br>68<br>-|255<br>255<br>-|13<br>13<br>-||3,283<br>53<br>3,283<br>53|411<br>18<br>411<br>18|-<br>-|
||129<br>129|:|:|=|=|=|418<br>418|-|-|=|-||e|E|-|
||251|||||||||||||||
|4,244<br>4,244|2,460<br>2,460|2,375<br>2,375|3,450<br>3,450|11 ,329<br>11,329|5,017<br>5,017|1,196<br>1,196|454<br>454|10,671<br>10,671|750<br>750|2,831<br>2,831|146<br>146||36,481<br>36,481|8,388<br>8,388|-|
|262<br>262|28<br>28|297<br>297|383<br>383|498<br>498|1 ,502<br>4,502|39<br>39|167<br>167|1,114<br>4,114|118<br>118|291<br>291|-||1,755<br>1,755|262<br>262|-|
|7,651<br>7,651|3,415<br>3,415|7,251<br>7,251|4,982<br>4,982|151 ,547<br>151,547|10,756<br>10,756|1,454<br>1,454|1,171<br>1,171|68,280<br>68,280|6,541<br>6,541|3,646<br>3,646|174<br>174||254,968<br>254,968|12,282<br>12,282|165<br>165|
|7,651<br>7,651|36,576<br>36,576|4,249<br>4,249|4,982<br>4,982|171,378<br>171,378|15,384<br>15,384|3,161<br>3,161|3,419<br>3,419|30,120<br>30,120|4,938<br>4,938|932<br>932|7,947<br>7,947||79,509<br>79,509|5,882<br>5,882|165<br>165|
|35,133<br>35,133||6,500<br>6,500|9,700<br>9,700|2,344<br>2,344||||4,251<br>4,251|||5,499<br>5,499|2,108<br>2,108|7,426<br>7,426|26,024<br>26,024|464<br>464|
||||4,718<br>4,718|||3,161<br>3,164||||932<br>932|2,448<br>2,448|2,108<br>2,108|2,745<br>2,745|19,354<br>19,354|14<br>14|
|27 482<br>27,482|36 576<br>36,576|10 749<br>10,749|0|169 034<br>169,034|15 384<br>15,384|0|3 419<br>3,419|34 371<br>34,371|4 938<br>4,938|0|0|o<br>it)|74 828<br>74,828|788<br>788|313<br>313|
||||||||page 20<br>page20|||||||||





Detailed Detailed Income Income and and Expenditure Expenditure West West Wales Wales[Rivers] Rivers Trust[Trust] For For the the year year ended ended 31 31 March March 2024 2024 

|SPF SPF Ceredigion<br>Carmarthenshir<br>e Adopt<br>Adopt<br>SPF<br>-e<br>Carmarthenshir iada -m<br>eAdopt<br>P|SPF SPF Ceredigion<br>Carmarthenshir<br>e Adopt<br>Adopt<br>SPF<br>-e<br>Carmarthenshir iada -m<br>eAdopt<br>P|SPF<br>Neath<br>Interns<br>SPF<br>Neath<br>Interns|SPF<br>Pembrokeshire<br>Adopt<br>SPF<br>Pembrokeshire <br>Adopt|Swansea<br>LNP Barrier<br>Project<br>Swansea<br> LNPBarrier <br>Project|Targeted<br> =|Targeted<br> =|Teifi <br>wg:<br>Toitne|DC<br>cc<br>ne|Teifi<br>LDTCS<br>.<br>wales|The Swire<br>Charitable<br>Trust<br>The Swire <br>Charitable<br>Trust|WWF Supply<br>Chain<br>Mapping<br> WWE Supply<br>Chain<br>Mapping|WWF Supply<br>Chain<br>Mapping<br> WWE Supply<br>Chain<br>Mapping|Total<br>Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|7|.|:|-|.||-||.|.|7||5|7,410<br>7,410|
|16,331<br>16,331<br>-|13,150<br>13,150<br>-|11,535<br>11,535<br>=|14,587<br>14,587<br>=|8,226<br>8,226<br>-||14,005<br>14,005<br>-|10,000<br>10,000<br><||:<br>s|-<br>-||11.501<br>11,501<br>-|977,729<br>4,615<br>977,729<br>4,615|
|16,331<br>16,331|13,150<br>13,150|11,535<br>11,535|14,587<br>14,587|8,226<br>8,226||14,005<br>14,005|10,000<br>10,000||-|-||11 ,501<br>11,501|989,754<br>989,754|
||||||||||||||17,575|
|1,617<br>1,617<br>-|93<br>93<br>-|-<br>.|1,226<br>1,226<br>-|2,424<br>-||-<br>-||-<br>-|18,107<br>18,107<br>=|-<br>-||-<br>.|480,089<br>668<br>480,089<br>668|
|-|:|:|-|-||=||-|.|<||:|162<br>162|
|65<br>-<br>65|si<br>-|=<br>-|-<br>-|-<br>-||-<br>-||-<br>-|-<br>-|-<br>-||=<br>=|62<br>3,720<br>62<br>3,720|
|195<br>195|4<br>4|16<br>16|197<br>197|-||-||-|-|473<br>473||-|2,754<br>2,754|
|1,067<br>256<br>1,067<br>256|388<br>50<br>388<br>50|81<br>40<br>81<br>40|1,137<br>369<br>1,137<br>369|214<br>214<br>-||-<br>-||-<br>-|1 ,272<br>1,272<br>-|-<br>-||-<br>-|16,822<br>1,717<br>16,822<br>1,717|
|-|-|-|-|-||-||-|-|-||-|4,597<br>4,597|
|-<br>-|-<br>-|-<br>-|-<br>-|-<br>-||-<br>-||-<br>-|-<br>-|-<br>-||-<br>-|3,154<br>169<br>3,154<br>169|
|48<br>1,011<br>73<br>156<br>48<br>1,011<br>73<br>156|359<br>43<br>=<br>359<br>-<br>43|70<br>172<br>-<br>70<br>-<br>172|48<br>1,074<br>22<br>48<br>1,074<br>22<br>-|184<br>-<br>184<br>-<br>-||-<br>-<br>-<br>-||.<br>-<br>-<br>-|1,176<br>156<br>=<br>1,176<br>-<br>156|-<br>-<br>-<br>-||-<br>-<br>-<br>-|1.118<br>14,850<br>1,032<br>1,911<br>1,118<br>14,850<br>1,032<br>1,911|
|-|149<br>149|-|-|.||-||-|-|-||-|937<br>937|
|=|-|-|-|-||-||-|=|a||7|754<br>754|
|6<br>6|8<br>8|-|-|-||-||-|-|-||.|123<br>123|
|11 ,235<br>140<br>11,235<br>140|3,987<br>3,987<br>-|779<br>779<br>-|11,935<br>140<br>11,935<br>140|2,046<br>2,046<br>-||-<br>-||-<br>-|13,071<br>13,071<br>-|-<br>-||-<br>-|170,178<br>1,703<br>170,178<br>1,703|
|-|-|-|-|-||-||-|-|-||-|2,500<br>2,500|
|Ill<br>111|21<br>21|-|Ill<br>111|-||-||-|-|-||-|799<br>799|
|452<br>452|210<br>210|-|1,071<br>1,071|36<br>36||-||-|1,243<br>1,243|-||-|13,308<br>13,308|
|16,430<br>16,430|5,312<br>5,312|1,159<br>1,159|17,330<br>17,330|4,904<br>4,904||-||-|35,024<br>35,024|473<br>473||-|740,700<br>740,700|
|99<br>99|7,839<br>7,839|10,377<br>10,377|2,743<br>2,743|3,322<br>3,322||14,005<br>14,005|10,000<br>10,000||35,024<br>35,024|473<br>473||11 ,501<br>11,501|249,054<br>249,054|
||||||||||22,605<br>22,605|20,202<br>20,202||9,665<br>9,665|332,432<br>332,432|
|||||||14,005<br>14,005||||19,729<br>19,729||1,836<br>1,836|-|
|99<br>99|7 839<br>7,839|10 377<br>10,377|2 743<br>2,743|3 322<br>3,322||o<br>0|10 ooo<br>10,000||12 419<br>12,419|0||0|581 ,486<br>581,486|
|||||page <br>page|21<br>21|||||||||





## West West Wales Wales Rivers Rivers Trust[Trust] Small Small Grants[Grants] Year Ended Year Ended 31 31 March March 2024 2024 

||||Carron<br>Carron||Carm CC<br>CarmCC|Cwmarian<br>Cwmarian|DCWW Afan<br> DCWWAfan|DCWW Afan<br> DCWWAfan||Gower<br>Gower|Gibbs<br>Gibbs||Inactive<br>Inactive||NRQ<br>NRQ||||Syfynwy<br>Syfynwy||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||BBNPA<br>BBNPA||Estate<br>Estate||LNP<br>LNP|Nevern<br>Nevern|Barriers<br>Barriers|||AONB<br>AONB|Trust<br>Trust||Funds<br>Funds||Sandy Haven<br>SandyHaven|||Schroeder<br>Schroeder|Knotweed<br>Knotweed||Total<br>Total||
|Grants<br>Grants||||||1,400<br>1,400||||5,000<br>5,000||||||||||||6,400<br>6,400|
|River Improvement<br>RiverImprovement||||||117<br>117||||1,410<br>1,410||320<br>320||||||||||1,846<br>1,846|
|Salaries<br>Salaries|||263<br>263|||825<br>825||||7,301<br>7,301||||||||||||8,388<br>8,388|
|ERS NIC<br>ERS NIC||||25<br>25||82<br>82||||669<br>669||||||||||||777<br>TL|
|ERS Pensions<br>ERS Pensions||||24<br>24||74<br>74||||313<br>313||||||||||||411<br>411|
|Depreciation<br>Depreciation|265<br>265||||196<br>196|||||||||||||67||||528<br>528|
|Meeting exp<br>Meetingexp||||||||||52<br>a2||||||||||||52<br>52|
|Printing& stat<br>Printing&stat||||||||||18<br>18||||||||||||18<br>18|
|Travel<br>Travel||||||168<br>168||||94<br>94||||||||||||262<br>262|
|Total expenditure<br>Totalexpenditure|265<br>265||311<br>311||196<br>196|1,267<br>1,267||-||9,856<br>9,856||320<br>320|-||-|||67|-||12,282<br>12,282||
|Surplus/Deficit for the year<br>Surplus/Deficit fortheyear||265<br>265||311<br>311|196<br>196|133<br>133||||4,856<br>4,856||320<br>320||||||67<br>67||||5,882<br>5,882|
|Balance b/f<br>Balance b/f||784<br>784|||813<br>813|||1,925<br>1,925||19,009<br>19,009||500<br>500|2,225<br>2,225|||450<br>450||3,312<br>3,312|2,356<br>2,356|||26,024<br>26,024|
|Transferbetween funds<br>Transfer between funds||276<br>276||311<br>311|438<br>438|||1,925<br>1,925||14,153<br>14,153||180<br>180|2,225<br>2,225|||450<br>450||3,012<br>3,012|2,356<br>2,356|||19,354<br>19,354|
|Balance c/f<br>Balancec/f||243<br>243||0|179<br>179|133<br>133|||0|0||0||0|||0|233<br>233||0||788<br>788|



page page 22[22] 



Appendix Appendix |[I] 

WEST WEST WALES WALES RIVERS[RIVERS] TRUST TRUST 


**----- Start of picture text -----**<br>
WEST WEST WALES WALES<br>RIVERS RIVERS TRUST TRUST<br>YMDDIRIEDOLAETH YMDDIRIEDOLAETH AFONYDD AFONYDD<br>wi GORLLEWIN CYMRU<br>we — ai~~ GORLLE WIN CYMRY<br>**----- End of picture text -----**<br>


Caring Caring for for rivers,[rivers,] lakes[lakes] and and wetlands wetlands 

Registered Registered Charity Charity Number: Number: 1105663 1105663 Company Company Number Number[:] : 04668878 04668878 

Trustees Trustees Annual Annual Report Report for for the[the][Year] Year[ Ended] Ended 31°' March March 2024 2024 31st 

1 1 



> WEST WALES WEST WALES RIVERS RIVERS TRUST TRUST 

Appendix Appendix[I] | 

## Contents Contents 

|||Page no:<br>Page no:||
|---|---|---|---|
|1.<br>1.|Legal and administrative information<br>Legal and administrative information||3<br>3|
|2.<br>2.|Structure, governance and management<br>Structure, governance and management||3-5<br>3-5|
|3.<br>3.|Objects and activities<br>Objects and activities||5-6<br>5-6|
|4.<br>4.|Financial review<br>Financialreview||6-9<br>6-9|



> 2 2 



> Appendix Appendix[I] | 

WEST WEST WALES WALES[RIVERS] RIVERS TRUST TRUST 

## 1. 1. LEGAL LEGAL AND[AND] ADMINISTRATIVE ADMINISTRATIVE[INFORMATION] INFORMATION 

## Trust Trust Chair Chair 

## Mr Mr C[C][Roberts] Roberts 

## Trust Trust Secretary Secretary K K M[M] Dearing Dearing 

## Correspondence Correspondence Address Address 

Llys Llys Afon, Afon, Hawthorn Hawthorn Rise Rise Haverfordwest Haverfordwest Pembrokeshire Pembrokeshire SA61 SA61 2BQ 2BQ Tel: Tel: 01437 01437 766669 766669 Email: Email:[info@westwalesriverstrust.org] info@westwalesriverstrust.org 

> Banker Banker 

> HSBC HSBC 

> 41 41 High High Street Street Haverfordwest Haverfordwest Pembrokeshire Pembrokeshire 

> SA61 SA61 2BN 2BN 

Contact: Contact: Harriet Harriet Alvis[Alvis] 

## Accountant: Accountant: 

## Registered Registered Office Office 

Pritchard Pritchard[and] and Co.[Co.] Pritchard Pritchard[and] and[Co.] Co. Chartered Chartered Certified Certified[Accountants] Accountants Chartered Chartered Certified Certified Accountants Accountants Ffynnonddofn Ffynnonddofn Ffynnonddofn Ffynnonddofn 74 74 High High Street Street 74 74 High High Street Street Fishguard Fishguard Fishguard Fishguard Pembrokeshire Pembrokeshire Pembrokeshire Pembrokeshire SA65 SA65 9AU[9AU] SA65 SA65[9AU] 9AU 

## 2. 2. STRUCTURE, STRUCTURE, GOVERNANCE GOVERNANCE AND[AND] MANAGEMENT MANAGEMENT 

The The Annual Annual Report[Report] of[of][the] the West West Wales Wales[Rivers] Rivers[Trust] Trust and and the[the] Financial[Financial] Statements[Statements][have] have been been prepared prepared[in] in accordance[accordance][with] with[the] the requirements requirements of[of] the[the] ‘Statement['Statement] of[of][Recommended] Recommended Practice', Practice’, and and ‘Accounting 'Accounting and and Reporting Reporting by by Charities’[Charities'] (revised (revised 2005). 2005). 

## 2.1. 2.1. Governing Governing Documents Documents 

The The West West Wales Wales[Rivers] Rivers[Trust] Trust[is] is governed governed by[by][its] its Memorandum[Memorandum] and[and] Articles[Articles][of] of Association[ Association] as as incorporated incorporated[under] under the[the] Companies[Companies][Act] Act[1985] 1985[on] on the[the] 18th[18th] February[February] 2003[2003] and[and][amended] amended on on the[the][24] 24 January[January][2017] 2017[and] and 13 13 November November 2023 2023 (to (to reflect reflect the the increase increase[in] in the the Trust's Trust's geographical geographical area area of operation).[of][operation).] 

## 2.2 2.2 Trustees Trustees 

> The The Trustees Trustees are are as as follows:[follows:] 

> Mr Mr[Clive] Clive Roberts Roberts[(Chairman)] (Chairman) Dr Dr Ian lan Thomas Thomas 

> Dr Dr Kay Kay Dearing Dearing[(Secretary)] (Secretary) Mr Mr John John Morris[Morris] 

> Mr Andrew Mr Andrew Thomas Thomas[(resigned] (resigned May May 2023)[2023)] Mr Mr Edward Edward Evans Evans 

> Mr Mr Huw Huw Jones Jones (resigned13 (resigned13 November November 2023)[2023)] Dr Dr Mark Mark Macklin Macklin 

> Mr Mr Steve Steve Evans Evans (appointed (appointed[13] 13 November November[2023)] 2023) Mr Mr[Chris] Chris[Stretton] Stretton Mr Mr Adrian Adrian[Philpott] Philpott (appointed (appointed[13] 13 November November[2023)] 2023) Mrs Mrs Hannah Hannah Corcoran[Corcoran] (appointed (appointed[13] 13 November November[2023)] 2023) 

3 3 



Appendix Appendix[I] | 

## WEST WALES WEST WALES RIVERS RIVERS TRUST TRUST 

> At At each each AGM, AGM, one one third third[of] of the the trustees trustees who who are are subject subject to to retirement retirement by by rotation rotation will will be be required required to to retire retire from from office, office, but but can can again again stand stand for for re-election. re-election. Subject Subject to to the the Articles, Articles, it it is is intended intended that that trustees trustees will will be be selected selected generally generally by by word word of of mouth, mouth, based based on on a a skills skills audit audit carried carried out out by by the the remaining remaining trustees trustees to to secure secure the the balanced balanced expertise expertise 

> required required for for the the efficient efficient delivery delivery of of the the Trust Trust objectives. objectives. 

1. 1. In In addition addition to to the the Trustees, Trustees, the the Trust Trust was was administered administered and and supported supported in in 2023/2024 2023/2024 by by Harriet Alvis Harriet Alvis (WWRT (WWRT Chief Chief Executive Executive[Officer)] Officer) and and Helen Helen Jobson Jobson (WWRT (IMART Senior Senior Executive Executive[Officer).] Officer). Staff Staff members members Andrew Andrew Thomas, Thomas, Harriet Harriet Thompson-Ball Thompson-Ball and and Katherine Katherine Stephens Stephens[joined] joined the[the][trust] trust and and were were responsible[responsible] for for the the delivery delivery[of] of habitat habitat and and water water quality quality improvements, improvements,[alongside] alongside existing existing staff staff member member Nathaniel Nathaniel James James who who[also] also managed managed the[the] community community engagement engagement team. team. Four Four new new staff staff members, members, Joanna Joanna Leeuwerke, Leeuwerke, Tiff Tiff Drew, Drew, Emma Emma Withers Withers and and Joe Joe Wilkins Wilkins were taken were taken on on[to] to each each cover cover[a] a different[different][county] county[ within] within our our West West Wales Wales catchment[catchment] area. area. 

## 2.3 2.3 Organisational Organisational Chart Chart MANAGEMENT MANAGEMENT STRUCTURE STRUCTURE 


**----- Start of picture text -----**<br>
Board Board of of Trustees Trustees<br>Chair: Chair: [Clive] Clive Roberts Roberts<br>Treasurer: Treasurer: Kay Kay<br>Dearing Dearing<br>Harriet Harriet Alvis Alvis - - Helen Helen Jobson Jobson - -<br>CEO CEO SEO SEO<br>Nathaniel James - Harriet Katherine<br>NathanielAdopt Adopt Project Projecta a Manager Manager [Tributary] TributaryJames - Andrew Andrew - - Farm arm Advisor THoHiag AdvisorThomas River River Thompson-Ball Thompson-BallHarriet Restoration Restoration- - Stephens StephensKatherineRiver River - -<br>Project Project Officer Officer Restoration Restoration<br>Project Pro ect Officer Officer<br>Joanna Joanna Leeuwerke Leeuwerke - -<br>Carmarthenshire Carmarthenshire<br>Engagement Engagement Officer Officer<br>Iff iff Dew Dew - - Swansea/Neath Swansea/Neath<br>Port Port Talbot Talbot Engagement Engagement<br>Officer Officer<br>Emma Emma Withers Withers - -<br>Pembrokeshire Pembrokeshire<br>Engagement Engagement Officer Officer<br>-<br>__| Joe Joe Wilkins Wilkins - Ceredigion Ceredigion<br>Engagement Engagement Officer Officer<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
|<br>**----- End of picture text -----**<br>


> 4 4 



> WEST WALES WEST WALES RIVERS RIVERS TRUST TRUST 

Appendix Appendix |[I] 

> Due Due[to] to the the large large geographical geographical area area[of] of WWRT, \AMIRT,[it] it has has been been decided decided that that[the] the[Trust] Trust will will 

> have have a a[Board] Board[of] of approximately approximately[12-16] 12-16 members, members, with[with][3-4] 3-4 members members coming coming[from] from each each 

> county. county. As As the the geographic geographic area area covered covered by by the the Trust Trust now now extends extends as as far far east east as as the the 

> Rivers Rivers Neath Neath and and[Afan,] Afan,[in] in[the] the County County Borough Borough[of] of Neath Neath[Port] Port Talbot, Talbot,[it] it[is] is hoped hoped that[that] new new 

> Trustees Trustees[to] to represent represent[this] this part part[of] of the[the] Trusts Trusts area area of[of] operation operation can can[be] be recruited recruited[in] in[the] the 

> future. future. The The Board Board will will meet meet 2-3 2-3 times times a a year, year, including including an an Annual Annual General General Meeting Meeting and and 

> Trustee Trustee[recruitment] recruitment will[will][be] be an an area area of[of] focus focus going going[forward.] forward. 

> VWVRT WWRT will will maintain maintain an an Executive Executive Operational Operational Group Group[for] for day-to-day day-to-day management, management, while while 

> the the Board Board of of Trustees Trustees will will be be responsible responsible for for the the strategic strategic direction direction of of the the Trust. Trust. 

- Individual Individual Trustees Trustees and and supporters supporters of of the[the] Trust Trust have have been been identified identified as as contributors contributors to[to] key key areas areas of[of] responsibility[responsibility] in[in][order] order to[to][maximise their] maximise their particular particular[skills] skills[for] for[the] the[benefit] benefit[of] of the[the] Trust. Trust. They They are: are: (a) (a) Finance Finance — — Kay Kay Dearing Dearing (b) (b) Legal Legal issues issues — — Edward Edward Evans Evans (c) (c) Personnel, Personnel, HR HR & & Health Health and and Safety Safety — — Clive Clive Roberts, Roberts, John John Morris, Morris, Chris Chris Stretton, Stretton, Helen Helen Jobson Jobson and and Hannah Hannah Corcoran Corcoran 

- (d) (d) Fundraising Fundraising & & Promotion Promotion — — Clive Clive Roberts, Roberts, Andrew Andrew Thomas Thomas & & Harriet Alvis Harriet Alvis (e) Habitats Habitats & & Environment Environment — — Ian lan Thomas, Thomas, Helen Helen Jobson, Jobson, Harriet Harriet Alvis, Alvis, Nathaniel Nathaniel James, James, Hannah Hannah Corcoran Corcoran and and Steve Steve Evans Evans 

- (f) Education Education & & Community Community[Links] Links — — Helen Helen Jobson, Jobson, Nathaniel Nathaniel James James & & Harriet Harriet Alvis Alvis 

- (g) (g) Trust Trust Documentation Documentation — — Edward Edward Evans, Evans, John John Morris, Morris, Helen Helen Jobson Jobson and and Harriet Harriet Alvis Alvis 

- (h) (h) Volunteer Volunteer Coordination Coordination — — Nathaniel Nathaniel James James 

> The The[Trust] Trust has has deliberately deliberately restricted restricted[the] the[size] size[of] of[its] its executive executive and and operational operational team team in[in] order order to to create create a a solid solid foundation foundation for for further further development. development. The The Trust Trust receives receives valuable valuable support support from from Afonydd Afonydd Cymru, Cymru, The The Rivers Rivers Trust,[Trust,] other other Welsh Welsh Rivers Rivers Trusts, Trusts, Natural Natural Resources Resources 

> Wales Wales and and[other] other groups groups[operating] operating[in] in our our catchment. catchment. WWRT LANRT[will] will continue continue[to] to[build] build up up a a network network of of local local[consultants] consultants and and volunteers volunteers who who are are called called on on from from time time[to] to time time for for[their] their 

> expertise expertise or or[to] to help help with with specific specific initiatives. initiatives. 

## 3. 3. OBJECTS OBJECTS AND AND ACTIVITIES ACTIVITIES 

## 3.1 3.1 Objects: Objects: 

> The The objects objects[of the] of the[Trust] Trust are are as as[follows:] follows: 

Object Object[1] 1 Through Through community community partnership partnership initiatives initiatives and and otherwise, otherwise, and and for for the[the][benefit] benefit of[ of] the[ the] public[public] generally generally to to secure secure the the conservation, conservation, protection, protection, rehabilitation rehabilitation and and improvement improvement of of the the rivers, rivers, streams, streams, lakes, lakes, and and wetlands wetlands in[in] the[the] Counties Counties of[of] Carmarthenshire, Carmarthenshire, Ceredigion, Ceredigion, Pembrokeshire, Pembrokeshire, Swansea Swansea and and Neath Neath Port Port Talbot Talbot and and adjacent adjacent areas areas and and of of their their banks, banks, riparian riparian land land and and catchment catchment areas areas[in] in all all their their aspects. aspects. 

Object Object 2[2] Through Through community community partnership partnership initiatives initiatives and and otherwise, otherwise, and and for[for] the[the][benefit] benefit[ of] of the[ the] public[public] generally generally to to secure secure the the conservation, conservation, rehabilitation rehabilitation and and protection protection of of the the indigenous indigenous species species of of animal animal and and plant plant life life[of] of the[the][rivers,] rivers,[streams,] streams, lakes and lakes and wetlands wetlands[in] in the[the][Counties of] Counties of Carmarthenshire, Carmarthenshire, Ceredigion, Ceredigion, Pembrokeshire, Pembrokeshire, Swansea Swansea and and Neath Neath Port Port[Talbot] Talbot and and of of their their banks, banks, riparian riparian land land and and catchment catchment areas, areas, and and thereby thereby[to] to enhance enhance[the] the Counties Counties biodiversity. biodiversity. 

> 5 5 



> WEST WALES WEST WALES RIVERS RIVERS TRUST TRUST 

Appendix Appendix |[I] 

Object Object 3[3] Through Through community community partnership partnership initiatives initiatives and and otherwise, otherwise, and for and for the[the][benefit of] benefit of[ the] the public[public] generally, generally, to to advance advance the the education education of of the the public public in in the the understanding understanding of of aquatic aquatic habitats, habitats, their their related related catchment catchment areas, areas, and and their[their] animal animal and and plant plant[life,] life, and and the the need need for for the the conservation,[conservation,] protection, protection, rehabilitation rehabilitation and and improvement improvement of[of] such such environments. environments. . Financial Financial Review Review 4.1 4.1 Financial Financial Policy Policy In In accordance accordance with with the the Memorandum Memorandum of of Association, Association, the the Trustees Trustees retain retain overall overall responsibility responsibility for for the the implementation implementation of of financial financial policy policy in in furtherance furtherance of of the the objects objects of of the the Trust. Trust. They They delegate delegate powers powers for for day-to-day day-to-day running running of of the the Trust Trust to to the the Operational Operational Group. Group. 4.2 4.2 Reserves Reserves Policy Policy West West Wales Wales Rivers[Rivers] Trust Trust undertake undertake a a variety variety[of] of projects projects to[to] achieve achieve our our aims aims as as[set] set out[out][in] in our our[Memorandum] Memorandum[and] and[Articles] Articles of[of][ Association.] Association. In[In][general,] general, the[the][staff] staff[ and] and costs[costs] of[of][ work] work undertaken undertaken by[by] WWRT[IMA/RT] are are supported supported by[by] grant[grant] funding.[funding.] This This restricted[restricted] funding[funding][is] is volatile volatile in in nature, nature, usually usually over over short short timelines timelines and and with with small small allocations allocations for for the the necessary necessary overheads overheads of[of] the[the] WWRT. VWVRT. These These grants[grants] are are also also normally normally funded funded in[in] arrears. arrears. This[This] poses poses distinct distinct problems problems for[for] West West Wales Wales[Rivers] Rivers[Trust:] Trust: 1. 1. WWRT need need[to] to be be able able[to] to cash cash flow flow[projects,] projects, where where payment payment needs needs to[to] be be made made[before] before claiming[claiming] the[the] money money[back.] back. 2. 2. On On occasion, occasion, there there may may be be periods periods between between projects projects where where staff staff costs costs are are unfunded. unfunded. Without Without reserves, reserves, this[this] would would mean mean a a constant constant process process of[of] laying[laying] off off and and hiring hiring new new staff staff for for individual individual[projects,] projects, which which is is not not feasible feasible given given the the short-term short-term nature nature of of many many of of our our projects. projects. Reserves Reserves allow allow staff staff to to remain remain in in place[place] between between projects projects and and continue continue to[to] deliver deliver work work which which contributes contributes to[to] achieving[achieving][the] the aims aims of[of] the[the] Trust.[Trust.] 3. 3. It It is is not not possible possible to to gain gain grant grant funding funding for for all all of of the the activities activities the the Trust Trust may may want want[to] to undertake, undertake,[particularly] particularly[at] at[short] short notice.[notice.] 4. 4. To ease To ease[the] the impact impact of[of] these these problems, problems, West West Wales Wales[Rivers] Rivers[Trust] Trust aims aims to[to] hold hold reserves reserves in in place. place. The The total total reserves reserves should should be be reported reported at at each each of of the the WWRT VWVRT trustee trustee meetings meetings as as part part of of the the CEO’s CEO's report. report. 5. 5. The The overall overall[aim] aim is[is] to[to] have have a a reserve reserve[fund] fund[of] of approximately approximately 1[1] year year[of] of running running costs. costs.[In] In general, general, decisions[decisions] should should[be] be undertaken undertaken with with the[the] aim[aim] of[of] increasing increasing the the total total reserves reserves until until this this[figure] figure is is achieved achieved at at year-end. year-end. This This figure figure shall shall be be re-considered re-considered during[during][the] the annual annual[policy] policy review[review][to] to reflect reflect recent recent growth growth of of the the[Trust.] Trust. 4.3 4.3 Risk Risk Management Management As As a a relatively relatively small[small] charity charity the[the][Trust] Trust[is] is managed managed by by a a close-knit close-knit group group of of highly highly committed committed and and professional professional individuals individuals with with[the] the[benefit] benefit[of] of expertise expertise and and[advice] advice[from] from Afonydd Afonydd Cymru Cymru and and The The’ Rivers Rivers Trust. Trust. Public Public Liability, Liability, Personal Personal Accident, Accident, Employers Employers Liability, Liability, Professional Professional Indemnity Indemnity and and Trustees Trustees Indemnity Indemnity insurance insurance cover cover are are all all in in place. place. Careful Careful risk risk management management of[of] projects projects undertaken undertaken in in partnership partnership with with other other agencies agencies ensures ensures that[that] all all projects projects have have an an agreed agreed cost cost ceiling ceiling and and on on completion completion of of each each project project no no contractors contractors are are[paid] paid[until] until money money[is] is[received] received[from] from[the] the project project partners, partners, with with[the] the exception exception of of where where 6 6 

4. 4. Financial Financial Review Review 4.1 4.1 Financial Financial Policy Policy 



> Appendix Appendix[I] | 

> WEST WALES WEST WALES[RIVERS] RIVERS TRUST TRUST 

grants grants are are being being claimed claimed in[in] arrears arrears and and then then strict strict eligibility eligibility criteria criteria are are adhered adhered to[to] when when delivering delivering projects projects[to] to ensure ensure[that] that the[the] funds[funds] can can[be] be reimbursed reimbursed to[to][the] the Trust[Trust][via] via an[an][agreed] agreed grants grants claim claim process. process. 

## 4.4 4.4 Principal Principal funding funding sources sources 

Following Following on on from from the the successful successful delivery delivery[of] of the the 2021 2021[to] to 2022 2022 Strategic Strategic Allocated[Allocated] Funding Funding (SAF) (SAF) for for the[the] inland inland fisheries fisheries habitat habitat restoration restoration programme programme that[that] was was awarded awarded to to WWRT ivWJRT via via Afonydd Afonydd Cymru, Cymru, WNRT WWRT received received further further funding funding of of £394,674 E394,674 from from the the same same fund[fund] for[for] the[the] period[period][of] of October[October][2022-] 2022[March] March[2024.] 2024.[LIWRT] WWRT[ used] used this[this][funding] funding[to] to successfully successfully deliver deliver the the removal removal of of multiple multiple weirs,[weirs,] carry carry out out fish fish passage passage installation, installation, and and install install[9.3] 9.3 km km[of] of[riparian] riparian[fencing] fencing[to] to reduce reduce livestock livestock erosion[erosion] and and nutrient nutrient[inputs.] inputs. ViMv/RT's WWRT’s Adopt Adopt a a Tributary Tributary project project was was able able[to] to expand expand significantly significantly across across[all] all of[of] the the Counties Counties[in] in which which we we[operate,] operate, thanks thanks[to] to funding funding from from UK UK Government's Government's Levelling Levelling up up Fund Fund[which] which employed employed a a Project Project Officer Officer[in] in[Ceredigion] Ceredigion (Joe (Joe Wilkins),[Wilkins),][Pembrokeshire] Pembrokeshire (Emma (Emma Withers) Withers) and and Carmarthenshire[Carmarthenshire][(Joanna] (Joanna Leeuwerke), Leeuwerke), coupled coupled with[with] the[the] National[National] Lottery's Lottery’s Heritage Heritage Lottery Lottery Fund Fund which which employed employed a a Project Project Officer Officer in in Swansea Swansea and and Neath Neath Port Port Talbot Talbot (Tiff (Tiff Dew). Dew). Each Each of of these Adopt these Adopt officers officers have have their their own own ambitious ambitious engagement engagement and and environmental environmental improvement targets improvement targets[which] which they[they] are[are] working[working] towards[towards] in[in] their their I-year 1-year funding funding periods. periods. Funding Funding was was also also[received] received from from[the] the Rural[Rural][Innovation] Innovation Fund Fund via[via] Carmarthenshire Carmarthenshire[Council] Council to to deliver deliver our our Circular Circular Agricultural Agricultural Plastics Plastics (CAP) (CAP)[Project,] Project, which which aims aims[to] to understand understand the the volumes volumes[of] of agricultural[agricultural] plastics[plastics] being[being][recycled] recycled in[in][Wales.] Wales. This This[project] project will[will] work work[with] with agricultural agricultural plastics plastics collectors, collectors, recyclers recyclers and and farmers, farmers, as as well[well] as as building building on on previous previous research, research, to to develop develop a a more more cost-effective cost-effective program program for for farmers farmers across across Wales Wales[to] to collect collect and and recycle recycle silage silage wrap. wrap. Project Project Officer Officer Harriet Harriet Thompson-Ball Thompson-Ball has has been[been] employed employed to[to] deliver deliver this[this] project.[project.] WINRT WWRT are are pleased pleased[to] to have have begun begun a a new new partnership partnership with[with] Swansea Swansea[Council] Council using[using] Welsh Welsh Government Government[Local] Local Places Places for[for][Nature] Nature funding, funding,[to] to[identify] identify and and address[address] barriers[barriers][to] to fish[fish] migration migration in[in] Swansea. Swansea. This This period period involved involved the the surveying surveying and and design design[of] of multiple multiple interventions, interventions,[which] which we we hope hope[to] to deliver deliver later[later][in] in 2024/2025.[2024/2025.] During During this this period, period, WRT WRT have have begun beguna a three-year three-year partnership[partnership][with] with[Natural] Natural[Resources] Resources Wales, Wales, Welsh Welsh Water Water (DCWW) (DCWN) and and Afan Afan[Valley] Valley Angling Angling Club[Club] which[which] aims aims[to] to restore restore the[the] Nant Nant[Clais,] Clais, an an[important] important spawning spawning[tributary] tributary of[of] the[the][River] River Afan.[ Afan.] A A programme programme of[of][ works] works will[will] be be carried carried out out with with the[the] support support[of] of volunteers, volunteers, including including litter litter[picks,] picks, Himalayan Himalayan balsam balsam pulling, pulling, Japanese Japanese knotweed knotweed treatment, treatment, tree tree[coppicing] coppicing and and the[the] installation installation of[of] large large woody woody material material[to] to improve improve flow[flow] diversity. diversity. Throughout Throughout[this] this year, year, WWRT \MNRT remained remained a a[key] key[partner] partner[in] in[the] the delivery delivery of[of] the[the][Swansea] Swansea University University led,[led,][National] National Lottery[Lottery] Heritage Heritage Fund’s Fund's[Nature] Nature Networks[Networks] Fund Fund (NNF)[(NNF)] funded[funded] ‘Reconnecting 'Reconnecting[the] the Salmon Salmon Rivers Rivers of[of] Wales’[Wales'][Project.] Project. The The focus focus of[of] the[the] project[project] is[is] the[the] removal removal of of barriers barriers that[that] impact impact fish fish migration, migration, and and[it] it[aims] aims[to] to help[help] reconnect reconnect[five] five[iconic] iconic Atlantic Atlantic salmon salmon rivers[rivers][in] in Wales Wales and and[revert] revert[the] the impacts impacts[caused] caused[by] by[habitat] habitat fragmentation.[fragmentation.] Reconnecting Reconnecting quality quality habitats habitats for for salmon salmon will will make make salmon salmon populations populations[less] less isolated isolated and and therefore therefore more more resilient resilient to[to] future future change. change.[It] It will will also also benefit benefit many many other other aquatic[aquatic] species,[species,] including including the[the] freshwater freshwater pearl pearl mussel,[mussel,] sea sea[trout,] trout, sea sea[lamprey,] lamprey,[white-clawed] white-clawed crayfish,[crayfish,] and[and] the the Eurasian Eurasian otter[otter] who who require require free-flowing free-flowing rivers. rivers. The The project project[is] is a a collaboration collaboration[of] of partners partners (Natural (Natural Resources Resources Wales, Wales, Welsh Welsh[Water,] Water, West West Wales Wales Rivers[Rivers][Trust,] Trust, Afonydd Afonydd Cymru, Cymru, Afan Afan Valley Valley Angling Angling Club Club and and[the] the Wye Wye & & Usk Usk Foundation) Foundation) and and[the] the aim[aim] was was to[to] 

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> Appendix Appendix[I] | 

remove remove and/or[and/or] ease ease 17[17] disused[disused][barriers] barriers and[and] help[help] reconnect reconnect[141] 141[km] km[of] of fragmented[fragmented] river[river] habitats habitats across across Wales. Wales. The The first[first] phase phase[of] of this this project project saw saw[the] the full full removal removal[of] of a a weir weir and and a a[pipe] pipe culvert, culvert, along along with with the the easement easement of of two two pipe pipe bridges bridges using using pre-barrages pre-barrages & & bed-checks bed-checks and and a a weir weir using using a hybrid hybrid rock rock ramp. ramp. This This year year saw saw the the successful successful full full removal removal of[of] three three weirs weirs on on the the Afon Afon Afan, Afan, that that were were posing posing a a barrier barrier to to the the movement movement of of small small fish fish species, species, as as well well as as impounding impounding[the] the watercourse watercourse and and[preventing] preventing natural natural geomorphological geomorphological and and hydrological hydrological processes. processes.[DCIgWv1] DCWW[ contributed] contributed E25k £25k match[match] funding[funding][towards] towards the[the][work] work to[to] remove remove[these] these weirs weirs as as they they were were originally originally constructed constructed to to hold/protect hold/protect a a Dwr Dwr Cymru Cymru sewer sewer pipe pipe which which ran ran through through[the] the centre[centre] of[of] each each of[of] the[the] weirs. weirs. This This sewer sewer[pipe] pipe network network is[is] now now disused disused and and therefore therefore the the weirs weirs no no longer longer served served any any purpose purpose but but were were continuing continuing to to impact impact the the ecology ecology[of] of the[the][river.] river. In In addition addition to to the the three three weir weir removals removals a a further further weir weir structure structure on on the the Afon Afon Afan Afan at at Maes Maes y y Bettws Bettws was was[identified] identified as as posing posing a a barrier barrier[to] to fish fish migration migration and and impounding impounding the the watercourse. watercourse.[VW,/RT] VWWWRT commissioned commissioned[the] the production[production] of[of] a a feasibility feasibility report report to[to] outline outline[the] the opportunities opportunities for[for] improved improved[fish] fish passage passage and and geomorphic geomorphic processes processes[at] at[the] the site, site, backed backed up up by[by] ground[ground] investigations investigations and and modelling, modelling,[to] to ensure ensure that that any any proposed proposed actions actions would would not not increase increase flood flood and and erosion erosion risk risk and and enable enable the the Trust Trust to to take take forward forward any any future future fish fish passage passage improvements[improvements][with] with greater[greater] confidence.[confidence.] Also, Also, under under the the NNF NNF[Project,] Project, WRT VW\/RT continued continued[to] to progress progress with with the the development development of of two two projects projects[to] to replace[replace] pipe[pipe] culverts culverts on on the[the] Afon Afon[Marlais] Marlais & & Afon Afon[Dulais] Dulais with with new new bottomless bottomless culverts. culverts. During During this this period period extensive extensive design design work work took took place place to to develop develop this this innovative innovative easement easement solution solution[to] to enable enable fish[fish] passage passage[at] at all[all] river[river] level level heights.[heights.] Topographical Topographical surveys, surveys, Geotechnical Geotechnical investigations investigations and and liaison liaison between between[the] the principal[principal][contractor,] contractor, structural structural engineer engineer and and culvert culvert manufacturers manufacturers were were[required] required[to] to design design schemes schemes that[that] could could be be implemented implemented at at each each location. location. This This process process took took a a significant significant amount amount of of time time and and therefore therefore the the actual actual delivery delivery of of the the[capital] capital works works to[to] carry carry out out the the installation installation of of the the two two new new structures structures was was carried carried over over into into the the 2024 2024 in-river in-river working working season season (from (from April[April] 2024 2024 onwards). onwards). 

> m,NRT WWRT have have continued continued to[to] deliver deliver smaller smaller pieces pieces of of service service work work under under our our Charitable Charitable Objectives. Objectives.[In] In this[this] financial financial year, year, this[this] involved[involved][invasive] invasive species species surveys surveys and and sediment sediment pathways pathways research,[research,] along along with with the[the] delivery delivery[of] of farm farm advisory advisory visits visits and and engagement engagement events events[under] under an an Agriculture Agriculture Project Project funded[funded][via] via[the] the Carmarthenshire Carmarthenshire Nature[Nature] Partnership[Partnership] Local Local Places Places for for Nature Nature Grant Grant and and the the delivery delivery of of Outfall Outfall Safari Safari events events through through DCWW’s DCWWs Citizen Citizen[Science] Science Fund. Fund. The The main main piece piece of of service service work work was was delivery delivery of of the the Afon Afon Teifi Teifi SAC SAC Catchment Catchment Phosphate Phosphate Reduction Reduction and[and] Mitigation[Mitigation] Project Project (PRAM (PRAM Project) Project) in[in][partnership] partnership with with Ceredigion Ceredigion County County 

> Council Council which which aimed aimed to to improve improve the the condition condition of of the the Afon Afon Teifi, Teifi, a a designated designated Special Special Area Area 

> of of Conservation, Conservation, by by reducing reducing phosphorus phosphorus load load and and safeguarding safeguarding the the natural natural heritage. heritage. 

> This This project project is[is] funded funded by by the[the] Nature Nature Networks Networks Programme Programme which which is[is] being[being] delivered delivered by by 

> the the Heritage Heritage Fund, Fund, on on behalf behalf of of the the Welsh Welsh Government. Government. The The Trust's Trust’s delivery delivery in in this this 

> project project included included the the installation installation[of] of Sustainable Sustainable Urban Urban drainage drainage features, features, 9km 9km of[of] riparian[riparian] fencing, fencing,[the] the delivery delivery[of] of farm[farm] infrastructure[infrastructure] surveys surveys and and capital[capital] improvements, improvements, and and 

> multiple multiple engagement engagement activities. activities. 

> Throughout Throughout the[the] year, year, WRT VWVRT has has continued continued with with[the] the delivery delivery of of our our on-going on-going programme programme of of liming liming to[to] counteract counteract[acidity] acidity issues issues in in the the Upper Upper Tywi Tywi catchment, catchment, utilising utilising mitigation mitigation funding funding for[for] Brianne reservoir Brianne reservoir[from] from DCLW. DCWW. LWRT WWRT have have also[also] continued continued[to] to share share 

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> Appendix Appendix |[I] 

WEST WEST WALES WALES[RIVERS] RIVERS TRUST TRUST 

> concerns concerns[regarding] regarding the[the][proliferation] proliferation[of] of new new[Forestry] Forestry[plantations] plantations[in] in[the] the[acid] acid sensitive[sensitive] catchments catchments of[of] the[the] Upper Upper Tywi.[Tywi.] 

Once Once[again,] again, the[the] Trust Trust[has] has[been] been[grateful] grateful[for] for donations donations from[from] local local[landowners,] landowners, community community groups, groups, residents[residents][and] and members[members][of] of[angling] angling[clubs] clubs[and] and[funds] funds received[received] from[from] our[our] grant[grant] supporters. supporters. 

> Going Going forward, forward, future future income income generation generation is[is] expected expected[to] to diversify[diversify] further further as as we we aim aim to[to] increase increase our our financial financial security security[by] by[exploring] exploring new new funding[funding] and[and] service[service][ work] work opportunities[opportunities] 

> and and increasing increasing[the] the delivery delivery[capabilities] capabilities[of] of Trust Trust staff,[staff,] including including fresh fresh partnerships[partnerships][with] with new new[bodies] bodies[and] and[organisations.] organisations. Furthermore,[Furthermore,] WWRT are are being[being][actively] actively supported supported by[by] 

> Afonydd Afonydd Cymru Cymru[to] to diversify diversify and and[extend] extend[the] the range range[of] of[its] its activities activities[in] in line[line][with] with[its] its charitable charitable objects, objects, including including[supporting] supporting[Councils] Councils in[in][their] their[responsibilities] responsibilities[to] to[improve] improve water water quality.[quality.] 

> Full Full details details of of the[the] Trust's Trust's projects projects and and ongoing ongoing activities activities can can[be] be viewed viewed on on[the] the Trust’s Trust's 

> website website[(www.westwalesriverstrust.org)] (www.westwalesriverstrust.org) or or social social media media[channels:] channels: Facebook[Facebook] and and 

> Linkedin Linkedin at at ‘West 'West Wales Wales Rivers Rivers Trust' Trust’ and and Twitter Twitter and and Instagram Instagram @westwalesrt @westwalesrt 

## 4.5 4.5 Trustees Trustees Responsibilities Responsibilities 

> Company Company and and charity charity[law] law requires requires[the] the trustees trustees to[to] prepare prepare financial financial statements statements for[for] 

> each each financial financial year year[which] which give[give] a a[true] true and[and] fair[fair][view] view of[of][the] the[state] state of[of] affairs[affairs] of[of][the] the charity charity and and[of] of the[the] surplus[surplus] or or deficit[deficit][of] of[the] the charity charity[for] for that[that] period.[period.] In In preparing preparing those those financial financial[statements,] statements,[the] the trustees trustees are are required[required][to] to 

- select select suitable suitable accounting accounting[policies] policies and and then[then] apply apply them[them] consistently; consistently; 

- - - make make judgements judgements and[and] estimates estimates that[that][are] are reasonable[reasonable] and[and] prudent;[prudent;] - prepare prepare the[the][financial] financial[statements] statements on[on][the] the[going] going[concern] concern basis[basis] unless[unless][it] it is[is] inappropriate inappropriate to[to] presume presume[that] that[the] the charity charity[will] will continue continue[in] in business.[business.] 

The The trustees trustees are are responsible responsible for for keeping keeping proper proper accounting accounting records records which[which] disclose disclose with with reasonable accuracy reasonable accuracy at[at] any any time time the the financial financial position position of of the[the] charity charity and and to[to] enable enable[them] them to to ensure ensure that that the the financial financial statements statements comply comply with with the the Companies Companies Act Act[1985,] 1985, applicable applicable standards, standards, the the statement statement of of recommended recommended practice practice[and] and[the] the regulations regulations made made[under] under the[the] Charities Charities Act[Act][1993.] 1993.[The] The trustees trustees[are] are also also responsible responsible for for safeguarding safeguarding[the] the assets[assets][of] of[the] the charity charity and and hence hence for[for][taking] taking reasonable reasonable steps steps for for[the] the prevention and prevention and[detection] detection[of] of fraud fraud and and other[other] irregularities. irregularities. ON ON BEHALF BEHALF OF OF THE THE BOARD: BOARD: Dr Dr Kay Kay Dearing Dearing - - Treasurer Treasurer <a. Approved Approved[by] by the[the] Board Board on on 26 Recomber AC Ap 

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