2023-12-31-accounts

Company registration number.. 05136671 UK charity registration number.. 1107144 Ireland charity registration number.. 20206391 The Rivers Trust IA company 11mlti￿ by gu8ranle&) Annual Report and Financial Slalomenls for the Year Ended 31 De¢¢mb&r 2023 WESTCOTTS CHARTERID A¢COUI4TANT * AUSItIES5 AD¥ISIHS

The Rlvern Trust Contants Referenc8 and Administrats'vg Dotalls Ito2 Trustees, Report 3to13 Indop8ndent Auditoes Report 141016 Con801idaled Statement of Flnanck91 Activltie8 17 Consolidated 88lanee Shèat 18 Bal$nc¢ Sho01 19 Con8011dated Statement of Ca8h Fk>w8 20 Note3 lo th¢ Flnon¢lal Ststaments 21 los1

The Rlvers Trust Referenc• and Administratlve Detsils Prnsident l D Gregg OBE Trust￿8 Dr B R Davies J E Harrlson C Hitchmough J A Mills lappolnted 4 July 20231 A W Muirhoad B A O'Hanrahan lappolnt8d 4 July 20231 E S Pas5ey 8 C Schoonbaert J WA Spees G O M Thoma8 Jmwhrte A R Wall8¢6 Ir88lgn8d 4 July 20231 Dr L R Couklrick IreswJned 4 July 20231 Jmwhtto Chalrman Company Socrolary R Caley Chlof Exocutlvo Offlcgr M Lloyd UK Ch4rSty Rogl•tr•tlon Numb•r 1107144 Ireland Ch•rlty R•gbtr•tlon Number 20206391 CompaDy ReglJtr4tlon Number 05136671 The charrty is incorporated in England and Wale8. Page 1

The Rivers Trugt Reference and Administrative Detslls Roglstorod Offlce Rain£harm House Kyl Cober Parc Stoke Climsland Callinglon Cornwall PL17 8PH We8tcolt8 (SWI LLP Chartered a¢¢ountants & ststulory 8udilor8 Plym House 3 Longbridge Road Marsh Mi118 Ptymouth Devon PL6 8LT The Ccwperalivg Bank P P.0. Box 101 1 Balloon Street Manchester 04EP Lloyd8 Bank PIC 8 Royal Parade Ptyrnoulh PL1 1TX Audltor Banker4 Santsnder UK Pk Bridle Road Bootle Merseysido L30 4GB Page 2

The Rivers Trust Trustees, Report The Trustees, who are dlrectors for the purposes of company law, p￿sent the annual report together with the financial statements and audito¢8 report of the charitable cornpany for the year ended 31 December 2023. Obj¢¢tivès and actlvltlos Otsj￿ts and alms The objects of the Trust are.. To advance the education of tho pub5ic in the management of water and environmental protection, eonseNalion. rehabilitation and improvement. To advance the education of thé public in the understanding of rivers, their b8sSns, fauna and flora. To protect, conserve, rehabilitate and improve th• rivers, Strèams. w8lercourses and river basins, including adjacent Coastal walars and water impoundments of the United Klngdom or any part or parts Ihereol for the public benefit. Our underlylng aim is to promote sUStain8ble and inlegraled calchmonl management, based on the ecosystem approach and sound environmental practice8, which can bring economic and social benefrts lo local communities. in addition lo environment81 improvements. To complement this aim, the Trust promotes a grass roots or bollom-up approach lo delivèr local solutions 10 18sue8. ObJo¢tlv•s, stratsgl•s and actlvltl•J Pollcles. objectlves and publlc benfjflt statement The Board's slral8gy for achieving ts objects and aims is ￿0101d.. through ils core aclivilies, the Trust acts as the umbrella organisalion lo promote the development of the Rivers Trust movement, to buikl apacily al the local River8 Trust level lo deliver the Trust's obj¢ets acr088 England, Wales, Northem Ireland and Ireland.. through its project aclivilie8, the Trust pursues mainly public grant funded opportunities to pr¢mot¢ and develop pr8CtiC81 solutions lo environmental issues for public bèneftt, bul it 18 increasingly developing partnerships wrth the private seclof lo grow the scale of delivery. In $etting objectives, planning for activrtie8 and delivering those activities, the Trustees have reg8rd ftir, and have given due considèr81ion lo, general guidance published by the Charity Commission relating to publi¢ bgnoflt. The Trusteès are fully satisfied that the Trust has complied with 116 educational and environmental benefit purposes, and that such purposes are beneficial to lo￿1 ommunilie$ and others wherever there is a river. The Trustees confirm that they have complied with the requirements of 8ection 4 of the Charities Act 2011 to have due regard to the public benefit guidance publishad by the Charrty Commission for England and Wales and the Charrties Regulator in Ireland. Page 3

The Rivers Trust Trustees. Report Fundralslng dlselosures The Trust undert8kes limited fundr8isSng 8Ctiwty diTecl from the public and has engaged no-one to acl on ils bghalf to do so. We are a member ol the Fundraisin9 Regulator and afg committed to the Fundraisirbg Promise and adherence lo the Code of Fundraising Practice. We have safeguards in place shoukl we require third parties lo aet on our behaw that require them lo confimi they comply with the same code of praclice lo protect our supporters and the Charills fepulalion. We have no compli8nce disclosufes covenng the period. We havg received no complaints about fundraising ¢tivity and would undert8ke 8 risk assessment of any fundraising activity or schgme in advance of approval by our senior management team to ensurè that we have adequately assured ourselve8 that we will avoid unreasonably intruding on any pèrson's privacy, be unreasonably persistent or place undue pr05sure on a person to gwg monèy or other property. Acuvldes The Trust had 60 full-lime equivalent employees at the end of 2023. 11 maintains and develop8 central function to ev8lu81e, develop, undertake and di3$eminatè innovative idea8 and solullons re181ed to the wider river enwronmenl. The Trust, therefore, operat¢¥ undèr 8 unitary 8dv8ncement ol the Rivers Trust movement, wi(h fv40 main functional g¥oupings'. Corg eduCat￿n and Rivgrs Tru$l dèvébpment.. The Tru81'8 core 8clivilies are lo promole Rivers Tfu$ls and thèir interests 818 national level and to provide technical and governance support lo Rivers Trusts on generic issues affecting them. In so doing, il engages in an 8dvisory role with government and others on environmgnlal policy related lo rivar catchment8 and rèlated 1881188. Rivers Trusts are communily-led ¢haritabl¢ organisalions recognised a8 Important delivertrts of educ8lK)n, water management advice and practical conservation work from Source lo sea, and improving land use, river8 and w8118nds al the fiver calchmenl scglo. The aim is for them lo build their reputation as local "deliv¢rer$" by adopting and applying sound environmentsl practice and t￿hniqueS al a calchmenl management scale in a cosl-effeclive manner. The Trust assists with fundraising and securing delivery ¢onlract$ to ¢n8ble the Rivers Trusts 10 achieve more than Ih&y would wsthoul support. Equally important is th6 dlsseminalion of best practice and techniques. Thg Trust accordingly OTganis8s seminars. conferencgs, communrties of practice Otc., a feature of which 15 that they are open lo all al modest or no cost lo encourage wide participation across various communities and organisalions involved with water and the environment. 11 8180 Provides practical support le.g. lechnic81, communic8tions. fundraising) to individual and groups of Rivers Trusts to build their apacity. National and European projects., The Trust currently relies heavily on grant applications for projects lo develop and disseminate innovative solutions related to the river environment to a wide audience across the UK, Ireland and Europe. As the umbrell8 body, il occupies a pivotal position in developing related ne￿orkS principally across the UK, Ireland and Europe. It provides a conduit for know-how, le¢hnology and be51 practice transfer and dissemination. Project bids encourage partnerships, t8rgel activty towards societal needs ènd promote fresh solutions to problems. Page 4

The Rivers Trust Trustees, Report Projects enab18 the Trust lo underwrite ils 8ctNilies. In some cases, projects directly assist local Rivers Trusts lo deliver environmental improvement5. In other cases, they enable the Trust lo develop Ir8nsn8tional policy inilialives or enable the Government and rts agencies lo implement policies aimed al improving our wider river environment. The Trust also raises funds from charitable Irusls, indiv￿￿al donors and sponsors to support f(s core activities. Th8s8 may be classed as projects for aeeounting purposes. bul often the funds have very loose or no restrictions, except that they must be applied lo the charitable object8. Grant maklng poll¢l•$ Where funds permit, the Trust facilrtales and delivers financial support through the provision of discretionary grants to Rivers Trusts from its core funds, primarily in the start-up phasè or to promote suslainabilrty. The Tru$l also provides grants to Rivers Trusls lo undertake Tiver improvements, develop local capacity or implement policy initiatives through Ils piojects. However, in these cases th& Trust is obl48d lo comply with the eligibility and eonsent crrteria set out by each funder. Revlow of actfvltlos Pollcy Conllnued lo repre88nt the Rivers Trust movement and wider cal¢hmènl communitles, p8rtlcularly through promotion of a calchmenl-based ICaBAI, collaborative approach wf(h 8 f¢XUS on nalure-based $olulions. Collaborated with the Blueprint for Water lo advocate for a sustainable future for land and wat¢r, Sncluding a campaign to r8ise media, parliamentarian, and public awareness of chemical pollution. Worked with govemment to prop088 mechanisms for impl8rnenlalion of 8ts1utory plan8 throughout the UK and Ireland. Worked with a wide range of olh¢r organisalions lo propose a road map towards bettor ¢atchmenl managemgnl governance and how this might be inlegraled with nature recovery, flood defence and environmental land management schemes. Chaired and provided a secretsrial so￿lc8 for Dofra's Calehmenl B88ed Approach National Support Group. Continued lo promote education about water management generally and through partnership8 wf(h academia, other like-mindtrd Charities and through Wildlife and Countryside Link. Continued lo promote the Courtauld 2025 inrtialive on Water Stewardship and engaged private 8ector companies in delivery of Calchmenl rg$loralion. Influenced the development of the Water Industry Natural Environment Programme and Price Review process for 2024 .2029 8nd developed pibt scheme8 to involve local comrnuniligs in planning and delivery of water company investment. Started delivery of an Environmental Land Managernenl Scheme Tè61 & TrSal project lo inffluence the development of the new agricultural subsidy iegimg. . Secured funding for a major programme of wort entstled Mainslrgaming Nature Based Solutions wf(h 20 partngr organisations to change the modus operandi of the waler sector over the next 5 years lo incorporate natural processes into delivery of ils operational re8ponsibililies le.g. water Irealmanl well8nds}. Continued lo work wiltt over 30 partner organisalions on the development of the Catchment Systems Thinking Co-operative, which aims lo demonslrale a range of models for building collaborative data frameworks at a calchmgnl, regional and national scale lo inC￿88e our understsnding of the health of rivers and lo enable us lo monitor the impact of inlervenlions much more effects'vely. Pago 5

The Rivers Trust Trustees, Report Support to local trusts Continued lo develop open data, visualisalion and GIS tools, lo support groups working on river improvement and calchrnent management. Delivered a programma to create an open he8llh and safety culture within the Rivers Trust movement. Completed the 2022123 phase of the Catchment Based Approach ICaBA} nation81 support for the 100-plu8 rwer calchmenl partnerships and communitie5 a¢ro$$ England and cross-border with Wales. Provided one-to-one support for the development of Rivers Trusts in Ireland and Northem Ireland. Cothchaired a Catchment Data Users Group to support release of open data and use by Rivers Trusts and other parties. Co-chalred the CaBA Water Resources Group. Maintained 8nd developed four strategic partnerships wlth w8ter companies lo prOV￿e regional co.ordination of projects delivered by our member Rivers Tru$ls locally and to buikl collaboralive Aolulions lo water challenges. Signthcanlly developed the scale of our operations in Ireland lo support the rapid axpansion of River$ Trusts in Ireland. Consulted with members about the development of a Network Support Service lo in¢rea$e the cap8cf(y and capability of our member Trusts lo dellver 8t scale and lo meel the requirements ol funder8 and Irameworf( contract8. Dollvery of Improvement¥ at scale Applied funding from WVVF and the Coca Cola Replenish programme lo extend bespok8 water sen511iv& larmlng advice to reduce diffuse water pollution from agricutture in the Cam Ely Ouse ICamEOI catchment lo help deliver WFD improvements. Brought lo a close the Natural Course Lrfe Integrated Project. building cros$-s&clor capacity lo increase ambrtion in the delivery of the NW Eng18nd River 8a8in Plan. Delivery of AA-Floods'. 8 É2.5m threo-year Inlerreg Atlantic Area lunded project that aimgd to drtvg collaborative approach lo address all aspecls ol flood risk mAnagemenl from early warning services, predict￿n and prevention to p081-flood emergency response. Delivery of Carbon Connects.. 8 E4.5m four-year project funded by Inlerr•g North West Europe that aim8 to reduce the carbon gmission$ and enhance Ca￿On sequestration of degraded and mismanaged peallands across North Western Europe. Onooing support lo LIFE IP CleanE81." a 10 year E16.7m LIFE int¢grated project In E8lonia that will rosearch how lo improve the 61alus of ovèr 240,000 hectare81574km of waler¢ourse$ and roughly 160,000 hectares of coastal waters and impl8ment the findings. Delwery of Preventing Plo$lic Pollution.. a É14million funded EU INTERREG VA France (Channel) England Programme project co-financed by the European Regional Development Fund which worked 8cross seven pilot si188 to understand and reduce the impa¢15 of plastic pollution in the marine Invironmenl. Delivary of the Woodlands for Woler Project in partnership wrth the National Trust, Woodland Trust and Beaver Trust to 8UPPOrt Rivers TIu81s and others to plant 3.000 hectares of woodland alongside rivers. Page 6

Tho Rivers Trust Trustees, Report Communi¢ations Continued to host seminars, conferences and ovenls at mode81 co81 to encouragg participation by all those interested in the river environment, including Rivers Trusts. Pursued the Trust's open communic81ions strategy to develop its relationships with member Rivers Trusts and the wider general public. Managed extemal communications for the Calchment-Based Approach. Promoted volunteering opportunilies at lo¢al trusts via the web sile. Continued development of the r8fre5hed Rivors Trust brand. Used a range of social media lo promole the work Of R wers Trusts and lo propose collaborative. nalure-ba$èd solutions to the restcralion of rivers and their catchments. Fundralslng SuGce$sfully secured fundin9 vw numerous application8 to a wide range of grant funders to support our operations and those of our member Trusts. Maintained and developed a nOtr￿rk of major donors who 8UPPOrt the organisat￿n,$ core ¢o$l$ ￿￿th annual donations. Flnanclal rovSow Pollcy on ReJ•ms The Trustees have carefully oxamined Ihe requirements of the charity to maintain an appropriate level of unreslricled reserves. In doing this, the Trusteès have taken into account the risks ilemised in the charity's ngk register, which is continuously reviewed and updated, and hav& given due considerallon as lo how b&8t to protect the org8nisalion from the consequences of a sudden or unforeseen fall in In￿Me or adverse change in circumstances, The Boartj reviews tho Rèserves Policy on an annual basi5 to ensurg 115 continued 5uilability lo enable the charity lo moel rts objects and fuwil ils slr81egy, whilst maintaining an appropriato minimum level of unregtricled reserves, which specffically takes into account, in addilson lo the risk enwronmenl in gen¢r¢l, nel unrèstricted overhead8, the possible naed lo provide funding for projects in cash deficit, pending scheduled payment from project 8ponsors, and any Committ￿ cora costs of a caprtal or one-off nature. At the end of 2023 the Trust held lolal funds of £1.04m ol which £941 k comprised unre$lrict¢d free serves, wh￿h met the Reserves Policy and was sufficient to Carry out the objectives of the Trust. A review of the plans and foreca81 lor 2024 has indlcated that the unrestricted funds are sufficient lo meet the ReseNes Policy. However, the Board 15 mindful not only of thè long-paym8nt cycle for Eu-funded projeels but also, in tha context of Brexit and the lingering effects of COVID-19, unforeseen delays outside Df the Trust's control in the settlement of funding Claim5. The Board will thèrefore Continually feview the 8dequacy of the Tru¥l's reserves and ils reliance on such sources ol fundlng in tho medium and longer term. Page 7

The Rivers Trust Trustees, Report Prlnelpal lundlng sources Incomo.. Total income for the year was £6.7m12022-. £5.7ml. The Trust received donations and grant support during the year from a number ol sources including various ongoing EU grant-funded programmes, th8 Greggs Foundation, Garfield Weston Foundation, the Esmée Fairbaim Foundation, the John Ellemian Foundation, the Environment Agency and ￿F. The Trust raised over £151k in donations from indivKIu819, excluding its growing number of Fellows, who generally donate a minimum of £5k éach year for 5 years. The Tru51 also benefits from the support given by Rivers Trusts and rts other membets through subscriptions totalling £39k12022.. £37k). Expenditure.. Total expenditure for the year was £6.9m {2022', £5.8ml,' £5.3m 177'/01 12022.. 85%) of total •xpendilure was spent on reslricled fund projects and £676k110%l on our core area of educali¢n 8nd supporting Rivers Trust development, of whi¢h £76k r818185 to govemance expenditure. The Trusl has nggligible fundraising costs. Balance sheet.. The Trust ended the year wrth a ca8h balance of £5.9m {2022.' £3.7ml.' dgblors of £976k 12022.. £1.5ml, of which most was attributable lo trade debtors. and creditors of £5.9m 12022.. £4.Oml, allribulablo mostly lo deferrèd income and grants held for Ihird Parties whilst awaiting claims. Tha Board confirm5 that. yince the yèar-end, il is not aware of any events that would hgve a material delrimenlal impact on rt$ posrtion. Thi$ slalemenl lakes a prudent account of the ongoing impaGI of COVID-19 insofar 8S rt is possible lo predict ils impact at this lime. Not movem&nt in fund8'. The Trust made a deficit in the year of £136k 12022 - Delicil £59kl. A signifi'cant proportion of thi$ defi'cit relates lo planned expenditur• that was related lo the un￿StriCted donation of £500k raceived In 2020. Plan¥ lor futuro periods During 2024 the Trust will continue rts woth to identify and promolo innov•live 801ution8 lo the poor h•alth of rivers Ihrou9hout the UK 8nd Ireland. After successfulty incre85ing staff numbers in 2023, the Trust will seek to increase ils capaclly further during 2024 and invest more in securing partnership funding and delivery wnlracls. ¢oupled wilh praclieal support for the Rivers Trust netsvork, lo grow the capacity of rts member Irusls. Signfficanl funding bids will be SLtbmilled lo government, ils agencies and lo charitable trusts and a range of offerings to the private sector will be dgveloped lo enable The Rivers Trust and rts momber trusts to secure new. reliable sources of income. Page 8

The Rlvers Trust Trustsos. Report Core educat￿n activities and Rivers Trust sustainable development.. The Trust will maintain programmès lo ensure il remains able to continue to meet and effectively deliver its charrtable objects, It will maintain strong link$ with Defra and (ts agencies including the Environment Agency and is positively contributing to policy devolopmenl through a range of inrtialives. 11 will also continue lo work closely with LAWPRQ in Ireland and the Department of Agricutture, Environment and Rur81 Affair8 in Northern Ireland. This includes building new delivery models based on cooperation between the three seetors.. public, buslne88 and civil society. The Trust continues lo seek potential benefits from developments In environmental legislation, ils enforcement and the redislribulion of public funds. In support of this, the Trust continuas lo wr>rk with thg Wildlife and Countrysidè Llnk and Blueprint for W81&r groups and their equivalents in Ireland and Northem Ireland, which are the leading ¢nvironmenlal pollcy charity groupings. These include VVWF, The Wildlrfe Tru8ts, RSPB and The National Trugl. It has secured further support from 18ading grant giving trusts whgre suGGe$$ful applications are n( 8UPPCrting a gr0￿h in capacty of member Rivers Trust8. The Rivers Trust will continue lo expand ts communications fvnction w￿h legacy funding from the Foundation for Water Research. Rivers Tru81 Funding.. The River8 Trust will continue lo recruit individual donors and corporate 8pon80rg and il will make applications lo grant giving Irusls. 11 will seek lo develop corporate 8nd $lralegi¢ partnèrships with major corporations, waler companies and businesses in the food and drink supply chain, in Part￿Ular through the Water Stewardship programme. 11 will continue lo seek funding from EU, UK government and other projoGt funding lo mainlaln and increase The Rivers Trust's edvc81ion and calchmenl improvement programmes Ihfough both ils own activities and building capacity at Ihfr lo¢al Rivérs Trust level. National 8nd European projeels.. Catchment Based Approach {CaBAI - The Trust continues lo play 8 major1é8ding role in this Defra policy Init￿l￿e, supporting 100-plus catchment partnerships acr0$5 England, the majority hosted loeally either by member Rivers Trusts or Wildlife Trusts. Funding will continue lo be Sought during 2024 to expand capacty of the Catchment Based Approach Nation81 Support Group and the Cotchment Partnerships themselves. The Rivers Trust will seek funding from govemmènt and others during 2024 to support the further development of the national Catchment Systems Thinking Co-operative lo bring logèlhar muf(iple sources of data into a single user-friendly plaffotm, on which to base decision-making at a local and strategic Scale. The Trust will focus on delivery of the £8.gm Mainstreaming Nature Based Solutions programme of work wf(h 20 partners over the next 5 years lo transform the way that the water sector delivets ils slalulory responsibilities. Eu-funded Projects.. the Trust continues lo progress both the Natural Course and LIFE IP CleanEsl proje¢ls. New applications will be submrtled lo the EU for funding of the development of projects and m8mber Trusts in Ireland. Further proposals will be submitted lo Honzon Europe. The Trust continues to progress other major projects. including.. the Coca Cola Foundation's Replenish project.. WWF Water Stewardship Upscaling project and river related community educational or environmental improvements in conjunction with local Rivers Trusts, Page 9

The Rlvers Trust Trustees, Report Golng concern After making appropriate enquiries and due consideration. the Trustees h8ve a reasonable expectation that the Trust has adequate rewurces lo continue in operational existence for the foreseeab￿ future. For this reason, the Trustees conlinug to adopt the going concem basis in preparing the financial statements. The Trustees, enquiries included a review of the Trust's projections for the next 18 months (both operational expectations and future financial perfomiancel and Sight of the future lesl of the Trust's reseNes policy based on the assumptions made about future funding whiGh has been secured 8nd that about which. whilst not yel secured, reasonable assumptions may be made. Structurfjp governan¢o and manag•m•nt Constltutlon The Trust is a registered charity and company limited by guarantee, governed by ils Articles ol Assoc181ion, which were updated in 201110 align with the Companies Act 2006. Subject to the Articles of Association, membership is open to any individual or organisalion, The Trust has a wholly own8d subsidiary, River Ecosystem SeNic8s Limited, wh￿h was incorporated in 2013 The dislribulable profil of the subsidiary is covenanted lo the Trust. The Trust h8s a 88cond wholty owned subsidiary, PalGhview DAC, inwrporated in Ireland in 2021. Recrultment and appolntment of Trustees The governing body of the Trust is the Board of Trustees, whlch ¢omprfs$s up lo 11 Trustees. Rivers Trust members h8ve the right lo nominate and appoint up to six Trustees I'Rivers Truslees'l and all Members have the right lo elect up to five Trustees I'Elecled Tfustees'l al an AGM pursuant lo Articles 21 and 24. All Tw$leos shall be appointed for a 5-year term and are 81￿ible for re-appoinlmenl for ong furth&r and consecutive 5-year term. The recruitment of Tru8tees 18 ty communication with Rivers Tru81 members and others. Subject lo the Articles, 8eleelion 18 b8sed on environmental or specific rivers trust inloresl, expert15e in environmental or other relevant mattgr$, general experience of chariti88 and integrity, wrth the Over-r￿Ing objeclive of maintaining 8 broadly representative body, Strong on governance and wrth the ability lo add value. The Trust has adopted a ski118 matrix approach lo o$¥i¥t in meèting this objective. Inductlon and tr4lnlng of Trustses Newty appointed Trustees have access lo an online reference pack which Covers the modus operandi of the Trust and includes pertinent infomation on charities, such as the Charity Commission's 'The Hallmarks of an Eff8Ctive Charty ICC10}'. The pack is wntinually updated and provides all Tru8lee8 with a dynamic support tool. For ongoing training purposes, the Board has agreed that the online reference pack, presonl8lion$ etc, and Board papers will maintain standards of governance. Pay pollcy The Tnjsl operates a national pay policy guide and grading structure based on an independent rewew, benchmarked loc£lly and against a study of organisalions within the ènvironmental sector. This policy is 8pplied lo all staff of The River8 Trust. including the key managemenl personnel. Page 10

The Rivers Trust Tru8tee8' Report Organlsatlonal 5tnKture The Board reGognises that as an umbrella organisation representing the Rivers Trust movement there is an obligation on th8 Trust to embrace best governance practice positively. The Board meet5 formally on a quarterty basis, but there is frequent consult81ion wrth Trusleas individually and as groups OL￿Ide fofmal meetings. The 808rd has a Business, Audit and Risk Commitiee, principally lo deal with monitoring pèrformance and risk, approving projects and delai18d financial matters. This Committee consi81s of al least three Trustees and il meets al least four times per year and reports to the subsequent Board meoling. In 2021, tha Trust fomed a Nominations and Rernuner81ion COMM￿e￿ to oversee th8 recruilmenl of Tru81ees and 8enior Staff and to consM4er th8 appropriate level of remuneration and pay awards for staff. The Tru8t maintains a virtual ¢ommunicalion5 channel with the CEOS of member Irusls and the Board hosts an annual 'Chairs' and CEOS, Meeting.. Together these prOV￿e 8 means of fL)rm81 communication wrth rts Rivers Trust momb8rs on 8tralegy. members, priorities 8nd the Board's own perfom)ance. The annual meeting has proven sueeessful and has been in¢grporal¢d into tho annual calendar lo coincide with, and complement, the Annual General Meeting. There are numerous meetings with individual trusts, and groups of Trusts organised through infomial 'hub8', In be￿n thes& sèl piece meetings. Rolatlonshlps wlth related partlo8 The Trust works closely with ils River8 Trust members and other Gharilie8 and org8ni8alion8. However, all rel81ionship8 are eonduGl•d on an ams, length basi8. Rlsk man8g•m•nt The policy of the Trustees is lo manage risk by Televanl and proportionate measures. The Trustees encourage the executive team lo adopt innovative approaches in developing the Rivers Trust movement, lo pr¢)mote 188dership and initiative and lo make real and Significant contributions lo environmental improvements. The policy 15 conducted against a framework of good governance, pnjdenl finaneial control, sustainability and a cullufe of mutual Irusl, Tho Trusloe¥ promote conllnual risk assessment and management, both by Iho &x¢culive loam andlor any Trustee. In addllion, the Trustees have adapted the framework suggested by the Charity Commission for a formal Annu#l Risk Management Review und8rtaken by the Business. Audit and Risk Committee and approved by the Board. Identified higher priority risks are hwJhlighled for ea8e ol rgfergnGo within a comprehensive tsble of risk assessment, measur88 and accountability. The Trustees are mindful of thè negative reputaliDn81 publicity in respect of tho Charitable sector in recent years related lo governance, opacity and commercial conflicts of interest. They 8re fvlly satisfied that the Trust acts with the ulmosl integrity in respect of fundraising and seleetion of suppliers and beneficiarie8 of grants and conlracls. Moreover, governancg is open and transparent and any potential commercial conflicts of interest ol both Trustees and senior staff in The Rivers Trust are recorded on a register which 15 updated al every board meeting. The Trust maintains employer's liabilty and public liability insurance cover, cyber, professional indemnity and Trustees. indemnrty insuiance for 8dditional protection. Insurance cover is considered lo be the measure of last resort. Page 11

The Rlvers Trust Trustees. Report Key managemont parsonnal Al the end of 2023 the key management personnel of the Trust were.. A Aboobakar, Strategy & Stewardship Director A Adam. Deputy Director Strategy & Stewardship B Bendall, Operations Director R Caley, Finance Director and Company Secretary Dr R Collins. Director Policy & Science M Horton, All-lreland Director D Johnson. Technical Director M Lloyd. Chief Executive Officer A Rick8rd, Chi8f Policy Advisor Walker, Technical Director T Wafdley, Diieclor of Communication8 and Advocacy Statemont of Tru8to05' rg¥ponslbllltles The Trustees (who are also the directors of The River8 Trust for the purposes of company lawl 8re responsible for preparing the Trustees, report and the financial slalemenls in accordance with oppli¢ab19 low and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Praclicel. including FRS 102 'The Financial Reporting Stsndard applicable In the UK and Republic of Ireland" Company law require5 the Tru8tees to prepare fin8ncial statements for each financial year. Undar ¢ompany law tho Trustegs musl not approve the financial slalemenls unlgS5 they are satisfied that they give a true and fair wew of the slate of affairs of the pargnl charitable company and the group and of the incoming resources and application of resources, including ils income and expenditure. of the charitable group for that period. In preparing these financial slalemenls, the Tru81ees are required lo.. selgct suitable accounting policies and apply them consislenlly., observe the methods and principleB in the Charities SORP., make judgements and eslimales that are reasonable and prudent., Stsle whether applicablg accounting $10ndard$, comprising FRS 102 have been followed, $ubje¢l lo any material departures disclosed and explained in the financial slalemenls,. and prepare the financial ststemenls on the going concern basis unless il is inappiopriale to presume that thè parent ehari18ble eompany will continue in busine5S. The Trustees are responsible for keeping proper accounting records that can disclose wf(h reasonable accuracy al any lime the financial posi(ion of the parent charitable company and the group and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the par&nt charitable company and the 9roup and hence for taking reasonable steps for the prevention and detection of fraud and other irregulaniies. The Trustee$ are responsible for Ihg Maintenan￿ and integrity of the corporalg and financial infomialion included on the charitable companYs websrte. Legislation goveming the preparation and dissemination of financial slalements may differ from legislation in other jurisdictions. Pagg 12

The Rlver8 Trust Trustoos, Roport D18clo8uro of Infomiallon to audltor Each member has tsken steps that they ought to have taken a8 a member in order to make themselves aware of any relevant audit information and lo o$tabll$h th* the charity's 8udiloi is awar8 of that infomiation. The Trustees confirm that there is no rel8vant information that they know of and of which they know the auditor is unaware. Tho annual report W88 spproved by the Trustees of the charity on behall by.. 25106rd024 and signed on it8 Jmwhrt Chalfm8n and Trustee Pagg 13

The Rivers Trust Independent Auditor's Report to the NJembor5 of The Rivers Trust Opinion We have audrttd the financial slalemenls of The Rivers Trust Ithe 'companll and ils subsidiaries Ilhe 'group'} for the year ended 31 December 2023, which comprise the Consolidated Statement of Financial Aclivilies, Consolidated Balan￿ Shèet. CL)mpany Balance Sheet. Consolidated Slalemenl of Cash flows, and Notes lo the Financial slalemen15, including a summary of significant ac￿UntIng poli¢ies. The financial reporting framework that has been applied in their preparation is Unfted Kingdom Accounting Slandardg, comprising Charities SORP - FRS 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ire18nd' and applicable law (United Kingd¢yn Gènerally Accepted Accounting Practice). In our opinK)n the financial stslements.. give a true 8nd fair view of the slate of the group's and company's affairs as 8131 December 2023 and of 118 incoming resources and application of re$our¢es. Including ils income 8nd expenditure, for the year th8n ended", have been properly prepared in accordance wlth United Kingdom General￿ Accepted Accounting Pr8clice', and have been preparad in accordance wrth tho requiromenls of th• Companies Act 20C6. B•sls for oplnlon We conducted our 8udrt in 8ccord8nce with International Sl8ndards on Auditing IUKI IISA8 IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilrties for the audil of th& financial slalem&n16 section of our report, We are independent ol the group in accordance with the ethical requirements that are relevant lo our audit of the fin8nclal statements in the UK, including the FRC'S Elhi¢a1 Standard, and we have fulfilled our other olhical respon8ibilrties in accordance wrth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basi5 for our opinion. ConcluBlon8 relatlng to golng concern In auditing the financial stslemènls, we have concluded that tho Trustees, uso of Ihg going concem basis of accounting in tho prgparalion of the financi81 slalemenls is appropriole. Based on the work we have perfomied. we have not idenlffied any rnaterial uncertainlle8 relating lo events or conditions th81, indmdually Dr collectively, m8y cast signrficant doubt on the group's ability lo continue as a going concern for 8 p¢riod of al least twelve month8 from when the original finandal slalemenl8 were aulhorised for issue. Our responsibilit￿S and the responsibilities of the Trustees with respect to going concern 8re described in the relevant sections of thls report. Other information The Trustees are responsible for the other information. The other information comprises the infoffTiation included in the annual report, other than the financi8151alemenls and our auditorfs report Ihereon. Our opinion on the financial statements does not cover the other infomalion and, except to the extent otherwise expliGf(ly slated in our report, we do not express any form of assurance conclusion Iher80n. Page 14

The Rlvers Trust Inde￿ndent Auditorfs Roport to the M•mbers of The Rivers Tru8t In connection wrth our audit of the financial stal8menls, our responsibility is to read the other infomalion and, in doing 80. consider whether the other infomalion is m8terially inconsistent wrth the financial stalemenl¥ or our knowledge obtained in the audit or otherwse appears to be malerialty misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a m81erial misststement of the other information. If, based on the work we have perfgnned, we conclude that there is a material misslalement of this olhor infomialion, we are required lo report that fact. Wo have nothing lo report in this regard. Oplnlon on other matt¢r pre8crlbed by th• Compan188 Act 2006 In our ¢)pinion, based on the work undertaken in th8 course of the audit., the information given in the and Trustee$, Report for the financial ￿ar for which the financial statements are preparod is consi3lenl with the finanaal 5tatemenls-, 8nd Ihe and Tru81ees' Report have been prepared in accordance with applicabl8 legal requirgmgnts. Mattern on whlch we are requlrod to report by oxceptlon In the lohl of our knowledoe and understanding of the group and the parent ch8rilabPe company and i(4 environment obtained in the course of the audit, we have not idenlrfied material misslalemenls in the Trustees, Report. We have nothing lo report in respect ol the following matter8 where the Companies Act 2006 Tequires US to report lo you rf. in our opinion". adequate accounting records have not been kept by the parent charitable company. or relums adequate for our 8udil have not been received from branches not Visited by us,. or the porenl Choritsblg company financial slalem&nls are not in agreemonl with th8 accounting records and returns.. or certain disclosure3 of Truslaes remunerallon spècified by law 8re not made., or we have not received all the infomiation and explanations we require for our audit. Responslbllltles of Trustees A8 explained more fully in the Slalemenl of Trustees, responsibilities (set out on page 121. th¢ Truslaes are responsible for the prep8ralion of the financi81 slalemenls and for being satisfied that they give a true and fair view, and for such intemal control as the Trusle&s d&lemiine is necessary lo enable the preparation of financial statements that are free from material mis$lal8m¢nt, whether due lo fraud or error. In preparing the financial slalements, the Truslegs are responsible lor assessing the group and company's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intènd to liquidate the Company or lo Ce8￿ operation8, or have no reallsllc allernalive bul lo do so. Audltor responslbllltles for the audlt of the financlal 8tatgmonts Our objectives are to obtain reasonable assurance about whether the financial slalemenl8 as a whole are free from malerial misslalement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Re850nable assur8nce is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material mi$5tstement when il e￿st5. Mis5tatemenls can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decislons of users taken on the basis of these financial slatemenls. Page15

The Rivers Trust Independent Auditorfs Report to the Members of The Rivers Trust The extent lo which our procedures are capable of detecting irregulanties, including fraud is detailed below.. We identified areas of laws and regulations th81 could reasonably be expected lo have a matsrial effect on the financial statement6 from our general commercial and sector experience and through discussion with the directors and other management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit. The company is Subject to laws and regulations that govem the preparation of the financial stalemenls, including linancial reporting legislation, and other companies legis18lKJn. The company is 8180 subject lo other law8 and regulations where the consequences of non£ompliance could h8ve a m81erial imp8cI on the amounts or di8closures wthin the financial slalements, including ernploymont. anli-bribery. anll-money launderino and certain aspects of companies legislaliorb. Owing lo the inherent limitations ol an audit, there i¥ an Unavoidab￿ risk that we may not have detected some material misststements in the financial statements, even though we have properly plann8d and performed our audit in accordance wrth auditing standards. In any audit, there remains a hi9h8r ri$k of non-deleclion of irregularilie8, 88 th888 may involve collusion, forgery, intentional omissions. misrepresenlalions, or the override of internal contro16. We are not responsibl8 for preventing non-compliance and eannol be expected lo delecl non-compliance with all laws and regulations. U8• of our report This report is made 801ely to th8 charitable parent company's Trusle•s, as 8 body. in aecordance wrth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken 80 that we might stale lo the group's Tru81ees those matters we are required lo Slate lo them in on auditor's report and for no other purpose. To the fullest extent pemirtted by law, we do not accept or a3sumg r•sponsibilhy lo anyone other than the ch8rilable parent company and118 Truste&s as a body, lor our audit work, for this report, or for the opinions we have fomiod, Adam Croney jsenior Slalulory Audilorl For and on behalf of Westcolls ISWI LLP, Slalulory Auditor Plym House 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT Dale.. Page 16

The Rivars Trust Consolidatsd Ststsment of Financial Activitles for the Year Ended 31 December 2023 (Including Consolidated Income and Expenditure Account and Ststement of Totsl Recognised Gains and Losses) Unrestrfcted RestrSctsd funds funds Total 2023 Totsl 2022 Noto Incomè and Endowmentg t)onations and legacies Charkable aclivllies Other trading adlvilles Investment income 501,879 349,374 5.163,650 688,690 15,870 501,879 5,513,024 688,690 15.870 391,992 4,870,243 469,359 324 Total income 1,555,813 5.163,650 6.719,463 5.731,918 Expgndlturg on: Costs of trading 8ctivllie8 Expendiluro on charitabl& activities Total expendrture Nèt expenditure Tr8nsfers betsveèn funds 1619.3851 1962,3031 15,273,9861 11,581,668 1619,3851 1435,0601 6,236,269) 15.355,410} 6,8SS,6541 15,790,470} 125,87SI 1110,316) 138,3581 38,358 1136,1911 158,552) Net movement in funds 164,2331 {71,958) 1136,1911 158,552) Reconclllatlon of funds Total funds brought I0￿2rd Total funds carned forward 1,005,966 178,150 1,184,136 1,242,688 23 941,753 106,192 1,047,94S 1.184,136 All of the group's activities derive from continuing operallong during the above tsvo period8. The funds breakdown for 2022 is Shown in note 23. The notes on page5 21 to 51 form an integral part of these financial ststemenlg. Page 17

The Rivers Trust (Reglstration number: 05136671) Consolidated Balance Sheet as at 31 December 2023 2023 2022 Noto Flxed assets Tangible assets cUr￿￿t assets Debtors Cash at bank and in hand 19 46,157 43.553 21 976,091 5,912,442 6,888,533 5,886,745) 1,513.307 3.679.799 5,193,106 4,052,523 Crodltors: Amounts falllng due wlthln one year Net curr•nt avJ•ts 22 1,001,788 1,140.583 1,184,136 Not ￿•0￿ 1,047,945 Fund8 of the group". Restrlcted Income fund• Restricted fvnd8 106.192 178,150 Unrestrlctod Incom• fund¥ Unrestricted lundB 941,753 1,047,945 1,005,988 Total fund• 23 1.184,136 The financial slalemgnts On P8ges 17 10 51 were approved by the Trustees, and authorised for i58ue on 2ts1QfjRQ24.. and 81gned on their behalf by., I Pi L3L.L J M Whf(e Chairman and Trustee The notes on pages 2110 51 fomi an integral part of these financi81 slalement8. Page 18

The Rlvers Trust (Reglstratlon number: 05136671) Company Balance Sheet as at 31 December 2023 2023 2022 Flx¢d as$ets Tangible assets Inv8stments 42,185 284 43,553 200 20 42.469 43,753 Curront •ss•ts Debtors Cash at bank and In hand 21 965,639 S,310,866 6,276,505 1,516,696 3,433,632 4,950,328 Credltors: Amounts tslling due wlthln on8 y8ar Not current asBotB 22 5.270,3131 3,809,945 1,006,192 1,140,383 1,184,136 Nèt a88ets 1.048,661 Funds of the charlty: Restricted incom• fuDd• Reslricled funds 106,192 178.150 Unrn•trlcted Income funds Unreslricte¢J funds 942,469 1,005,986 1,184,136 Total fund• 23 1,048,661 As permltted by 9408 Companie8 Act 2006, the Company has not presented fts own slalemenl of flnanclal activllies and related noleB.The company had a nel movement in fund8 of1£135,475112022'. (£58,55211. The financial 8t8temenls on pages 17 to 51 were 8pprov8d by the Trustees, 8nd aulhorised ftjr is$ue on 25IDS12L)24.. and *gned on their behalf by.. Jmwhrte Chairrnan 8nd TTuslee The note5 on pages 21 to 51 form an integral part of these financial slatemenls. Page 19

The Rivers Trust Consolldated Statement of Cash Flows for the Year Ended 31 Decern￿r 2023 2023 2022 Notg Cash flows from 0￿ratIng actlvltles Net cash expendkure 1136,1911 158.552} Adjustments to cash flo￿ from non<ash Itgms Oeprecialion Investment income 14 25,626 115.8701 19.566 13241 {126,435} 139,3101 Worklng capltal adjustments Decrea8elllncreasel In debtors IDecrease}linerèase In creditors In¢rea¥e in deferred in¢om8 21 22 537.218 184,4801 1,918,700 (287,5791 555.008 1,202,391 Net ¢a8h flows from op¢roting aetivllbs Cash flows frorn Invostlng actlvltle• Interest receivable and similar income Purchase of tangible fixed assets Proce¢d$ of loan r6paymenls received Nel cash flows from inve8ting activities 2,245,003 1,430.510 15,870 128,2301 324 129,1921 122,000 19 112.3601 93,132 Cash flowa from flnanclng actlvltles Loan repaymen18 m8de 1122,000 Net increas8 in cash and cash equivalen18 2.232,643 1,401,642 Ca8h and cash equiv8lenls 8t 1 January Cash and cash equivalents al 31 December 3.679,799 2,278,157 5.912,442 3,679,799 All of the cash flows are derived from continuing operations during the above fv40 porth¥. The notes on pages 2110 51 foryn an integral port of thèse financial statements. Page 20

The Rlvers Trust Notes to the Financial Statements for the Year Ended 31 Décamb•r 2023 1 Charlty etatus The charity 18 a public benefrt enlily and a prlvale company limited by guarantee, registered in England and Wales. and a registered charity in England, Wales and Republic of Ireland. The address of it8 registered office 18.. Rain-charm Hou8 Kyl Cober Parc Stoke Climsland Callinglon Comwall PL17 8PH 2 Accountlng pollcl81 Summary ot s1gnlfScant accountlng pollclos and key accountlng estSmat89 Th6 pnncipal accounting policies applled in the preparation of these financial stslemgnl$ are sot out low. Th68e policie8 h8ve been cons181enlly applied lo all the year8 pr88enlod, unless olh8rwise stated. ststornent of compllance The fin8nci81 slalemenl3 have bèen prepared in accord8nce with Accounllng and Reporting by Charities.. Statement of Recommended Practice (applicable lo charilles pr8parlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 10211 (issued in October 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20Q6, 8•sls of preparatlon The financial statements have b￿ft prepared on the hisloflcal co8t basls. a8 modlfied by the revaluation of certain linancial assets and liabilities. Thé financial sl8temenl$ are prepared in glerling, whi¢h 1$ the funclionol currency of tho anlity. B*818 of con•olidation The consolidated financial slalements consolidate the financial statements of the charrty and its Subsidiary undertakings df8wn up to 31 December 2023. P8ge 21

The Rivers Trust Notes to the Financial Statements for the Y•ar Ended 31 December 2023 A sub$idiary is an enllty eLJntrolled by the charity. Control 18 achieved where the charity ha5 the power lo govern the financial and operating policies of an entty so as to obtain benefrts from rts acts'vitig5. Interrycompany Iransaclions. balances and unrealised gains on transactions betwèèn the ch8rily and ris subsidiaries, which are related parti88. are èliminated in full. Intr8-group losses are also eliminated but may indkale an imp8irment that requires recOgnit￿n in the consolidated financial stalemenl8. Accounting policies of 8ubsidiaii8s have been changed where necessary lo ensuré ¢onsisleney with the policies adopted by the group. Non-conlrolling inleresls in the net assets of consolidated subsidiaries are Idenlifled separately from the group's equty therein. Non-conlrolling inlere51s ¢onsisl of the amount ol Ih05e interests at the dal¢ of the original bu8ines8 combination 8nd the non.conlrolling shafeholder's sh8re of changes in equty since the dale of the combinalK)n. Total mprehensivé income is allribuled lo non-conlrolling interes18 even rf this resu￿9 in the non<ontrolling interests having 8 deficit balance. Golng concgm The financial slalemenls have been prepared on a going con¢8fn bo818. The Trustees g$¥e$s whglher th6 use of going concom is appropriale i.e. whether ther8 are any material uncertainties related lo events or conditions that may casl significant doubl on the ability ol the charrty lo continue as a going concern. The Trnslees make this 8sse8smenl in respect of a period of one ye8r from the d8te of approval of the financial s101gmgnl$. Judgements and key 8oureèJ of ostimation uncortalnty The Trustees are required lo make a judgement wh8lher the grants received contain perfom18nce ¢rileria in order to 8ccounl for these transactions correctly under the perfomance model in line ￿th the SORP. In Ihg Trustees, opinion there are no other key judgemen18 or 80urce8 of oslimalion uncertainly. Fund accountSng Unrestricted funds are availab￿ for use 81 the discretion of tho TNslèes lo further any of the charills purposes. Restricted funds are subjected lo restrictions on thèir expendrture dedared by the donor or through the terms of an appeal, and fall into one of fv40 sub-clo$ses'. restricted income funds or endowment fund5. Page 22

The Rivers Trust Notes to the Financial Ststements for the Year Endod 31 December 2023 Incomlng resourc88 All incoming resource5 8re included in the st8lemenl of financial activities when enlrtlem&nl h89 passed lo the ¢harily,' il ig probable that the economic beneffts associated wrth the transaction will flow lo the charrty and the amount can be reliably measured. The following specific polKies are appli8d lo particular categories of income.. Income from donations or grants is recognised when there is evidence of enlitlement lo the glft. receipt is probable and 113 omounl ¢an ba measured feliably. legacy income is recognised when receipt is probable and enlillement is èstablished. Income from donated goods is measured al the fair value of the goods unless this is impractical lo measure reliably, in whlch c88e the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognis8d in the accounts when received if the value can be reliably moasured. No amounts are included for the contnbulion of general volunlegrs. income from contracts for the supply of services is recognised wth the delivery of the conlr8cled seNie8. This is classified as unrestricted funds unless there is a conlraclugl requirement lor il lo be tspenl on a p8rti¢ular pu￿Sa and relumed rf un8penl, in case rt may be r8garded as re$lri¢ted. D•fenpd Income Oeferred income repr888nts amounts received for future perlods and is released lo incoming resources in the period for which, Il ha$ been rèceived. Such income is only deferred when.. The donor specifies that the grant or donation musl only be used in future accounting periods., or The donor has imposed condf(ions which mu81 be mel before the charity hos uncondition81 onliliemenl. Resources •xp•ndfjd Expenditure is recognised c*n an accrtsals basis as a liability is incurred. Expenditure includès any VAT which cannot be fulty recovered, and is classified under headlngs of the slal8menl of linanclal activities to which il relates.. expenditure on raising fund8 includes the costs of 011 fundraising activities. èvents, non-charitable trading activit￿5. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activthes th81 further ils charitable aims for the benefit of ils beneficiaries, including those support costs and osl$ ￿lating lo the gevernancè of thè charity 8PPOrtioned lo Charrtab￿ aclivilies. other expenditure includes all expendiluro that is neither re181ed lo raising funds for the charity nor P8rt of i(s expenditure on charitsble activities. All costs are allocated lo expendrture categories reflecting the use of the resource. Direct costs allribulable to a single activrty are allo¢aled directly lo that activity. Shared costs are apportioned between the activi(ies they contribute lo on a reasonablo, justifiable and consistent basis. Grnntprovlslons Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the trming of the granl or the amount of grant payabl¢. Page 23

The Rivers Trust Notes to the Financial Ststements for the Year Ended 31 Docomber 2023 T•ngibl• fixgd assets Tangible assets are initially recorded 81 cost, and subsequentty stated al cost le55 any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts arè recorded al the fair value 8t the date of revaluation less any subsequent accumulated depre¢otion and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recogni8ed ￿n other recognised gain8 and losses, unless il reverses a charge for impaimienl that has prevKJusly bean recognised as expendrture within the statement of financlal acllvilies. A decrease in the carrying amount of an 888et 8s a resubt of revaluation, is rgcognised in other recognised gains and losses, except lo which il off68ts any previous revaluation gain, in which case the 108$ is shown within other rgGogni$¢d gains and Ioss8s on the slalemenl of financial aclivrties. D•prec5atlon Depreciation 15 calculated so as to write off the c081 or valuation of an asset, less ils rg$idual value, over the u8eful economic life of that asset as follc)ws'. Asset cla88 Office and other equipment Deprecletlon method and rote 3 years slraighl lino T•xatlon The chartty is considered lo pa88 the le51s sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of 8 ch8dtable compony for UK corpor8tion lax purpo8e8. Accordingly, tho charity is potentially exempt from taxation in respect of income or eapital gains received within categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gain$ AGI 1992. to tho extent that Such income or gains applied exclusively lo charitable purposes. Flnanclal Instrumonts Classlllcatlon A financial asset or a financial liobilty 1$ recognlsed only when the charty becom•9 a paty to the conlraclual prowsions of the inslrumenl. BJ$i¢ financial in$lrum8nls are initially recognised at the amount receivable or payabb including any related Iransaction costs. Investments Investments in subsidiaries 8nd associates are measured al cost less impairment. For investments in 8ubsldiaries acquired for consideration including tho issue of shares qualifying for merger relief. cost is measured by reference lo the nominal value of the Shares issued plus fair value of olheT consideration. Any premium is ignored. Page 24

The Rivers Trust Notes to the Financial Ststements for the Year Endod 31 December 2023 3 Legal statu• of the Trust The charilable company is limited by guarantee and has no share caprtal, In the event of winding up thè liabilty of each member is limf(ed lo £1. 4 In¢ome from donatlons and logacl Unrestrlcted funds General Total 2023 Don8tsons 8nd legacles., Donations frorn org8nisation8 Donations from individuals Fellow8hips and 8s80cial8d donations Grft gid 133,724 151,708 194,000 22,447 133,724 151,708 194,000 22,447 501,879 501,879 Unr&8trlctod funds Ggnoral Total 2022 Oonalions and lega¢ie$', Donations from organisalions Donations from individu818 Fellowships and associated donations Gfft aid 48,884 253,537 74,500 15,071 391,992 48.884 253,537 74,500 15,071 391,992 6 Income fn)m eharltable •ctlvltl•8 Unrgstricted fund¥ Rostrlct•d fund5 Totsl 2023 National and European proje¢l$ Education and Rivers Trust development 310,804 38,570 349,374 5,163,650 5.474.454 38,570 5,163,650 5.513.024 Unrgstrieted fund¥ Rostrlcted funds Total 2022 National and European proje¢ls Education and Rivers Trust development 2,516 36,894 4,830.833 4.833.349 36,894 39,410 4,830.833 4.870 243 Page 25

The Rivers Trust Notes to the Financial Statsments for the Year Ended 31 December 2023 Trading activities Summary of tradlng mults of Rlv•rs Ecosystem Sep•lces Llmlt•d: 2023 2022 TumDvef Cost of salès Gross profil Administrative expenses Other operating income Profil for the financial year Gift Aid donation to The Rivef Trust Movomonl in r•lain•d oaming8 678,265 {580.5791 97,686 {27,6651 469,359 {415,934} 53,425 119.4741 349 34.300 34,300 70,021 0,021 A••èts and Il•bSlltl•s 2023 2022 A8sels 650,727 {650,5271 12001 390,490 1390,2901 12001 Capital Reserv88 Another subsidiary was acquirod during the pgriod, Palchview Designated A¢tivity Company, registered In the Republic of Ireland, and 18 included within the consolidation. This cornpany achigved turnover of £10,425 and a10s8 of £716 in the period. The total as8ets ol the company was £177,171, tol81 liablliti8$ were £177,803, with shars captsl of £84 and 8 reseNe8 deficit al the ye8r end of £716. Income from other trading activf(ies of £688,690 is made up of River E¢￿y$laM SeNiCaS Limited income of £678,265 and Patchview Designated Actwrty Company of £10,425 as above. Expendrturo on costs of trading 8¢tivilig8 of £619.385 1$ made up of River Ecosystem SeNices Limited expendllure of £608,244 and Patchview De8lgnated Activty Company of £11.141. Page 26

The Rlvers Trust Notss to the Financial Statomants for tho Yaar Ended 31 Decomber 2023 7 Investmant income Unrestrlctgd funds Total 2023 Bank inl8re8t 15.870 15,870 Unr•strlctsd funds Totsl 2022 Bank interest 324 324 8 Exwndlture on charltablo actlvttlfr8 Unr•strlclod funds G8neral R•strlctod fund Total 2023 Notg Ngllonal and Europeon projert Educ81ion and Rivers Trust devèlopment Govemance Cost 286,571 5,273,966 5,560,537 11 12 599,615 76,117 962,303 599,615 76,117 6.236,269 5,273 966 Unre8trl¢tsd funds General Re8trlGt•d funds Total 2022 Note National and Europèan projects Education and Rivers Trust development Governance c08ts 158,408 4.904,874 5.063.282 248,435 43,693 248,435 43,693 12 450,536 4,904,874 5,355,410 Actlvlty undertaken dlrectly Grant funding of activlty Actlvlty Support costs 2023 National and Europaan projects Education and Rivers Tru81 development Governance costs 3,517,435 2,043.102 5,560,537 10,905 588,710 76,117 599,615 76,117 6,236 269 3 528,340 2,043,102 664 827 Pege 27

The Rivers Trust Notes to the Financial Ststements for the Year Ended 31 December 2023 Actlvlty undertaken dlrectly Grdnt fundlng of activFty Artiylty support costs 2022 National and European proja¢ts Education and Rivers Trust development Govemance costs 2,828,158 2,235.124 5.(K3,282 21,468 226,967 43,693 270,860 248,435 43,693 2,849,626 2,235,124 5,355,410 9 Matlonal and Europgan Projects 2023 2022 Noto Actbvltlos undortaken Projgcl cos15 Other co815 Consult8ncy w￿88 and salarle8 463,888 353,596 732,032 1,967 918 137,863 263,834 784,965 1.641,496 2,828,158 2235.124 3,517,434 2.043 103 Grant funding of activities Total 10 5 560,537 5 063.282 10 Grants pald 2023 2022 Grants to Instltutlons Action for River Kennel Ballindgrry Rivers Trust Bu￿aU de Recherche8 Geologique8 el Miniere8 Environmonl Agency Lune Rivers Trust Mersey Rlvers Trust Norfolk Rivers Trust )rthumbedand Rivers Trust Ribble Rivers Tru$l Sevem Rivers Trust Source lo Tap Land Incentive Scheme South East Rivers Trust Sustainable Catchment Prqect Fami Grants 17,353 584.563 156,174 264.268 52,422 55,867 31.849 47,935 63,057 45,500 36,813 26,587 58,577 37,167 182,900 50.577 11,889 20,957 64,939 16,806 19,841 386,000 243,420 Page 28

The Rivers Trust Notss to thg Financial Ststements for the Year Ended 31 D•c•mber 2023 2023 2022 Thames 21 The National Tru81 The Woodland Trust Walercog European Partners West Cumbria Rivers Trust Wesl¢ounlry Rivers Trust Wye and Usk Foundallon Water Resources East BRGM- Service G80logiqu8 Eden Rlvers TTLlSt Kent Wildlrfe Trust Rwgr Lark Calchmenl Partnership Other grants lo instslutions 98,334 113.421 74,694 189,337 48,054 439,556 49.320 61,787 57,912 41,560 57.774 24.232 63.137 37.054 17,458 16.000 14,000 69,094 2,043,103 330.242 2,235,124 11 Educatlon and Rlv•r• Tru•t d8v•lopm•nt 2023 2022 Actlvltl•s und•rtak•n Saminar costs Other costs 10,066 B39 4,688 16,780 10,905 21,468 2023 2022 Support CO8t• Office costs Trav•1 Consurtancy Exchange rale {gainlAos$ Wages and sa5aries Depreciation 128,209 27,355 5.697 33,140 368,826 25,483 55,73S 10,798 14,203 161,3041 187,969 19,566 568,710 226,967 P8ge 29

The Rlvers Trust Notes to the Financial Statements for the Year Ended 31 Docomber 2023 12 Analysis of support co8t$ CharStable actlvltlos expendlturo Unr8$trlct•d funds Ggn•ral Total 2023 Total 2022 Consurtancy Wages and salarles Auditors remuneration 9,371 59,789 6,957 76,117 9,371 59,789 8,957 76,117 2,657 32.005 9,031 43,693 The Trust inttlalty identifies the total cost of ts support functions and then apportions the elemanl associated wi(h the governance of the charity to governance costs, The rgmainder of these support Cogls are incurred in developing The Rwers Trusts and Education. The Trust is able lo absorb an ebmènt ol ts overhead costs into èligible grant funded 8cllvilles. Prior lo the absorption total governance and support costs were £1,080,88812022.. £555.1521. 13 Government gr•nts The charity receives Europe8n and UK govemm8nl grants prfm8rlly lo fund revenLJe project costs. Most gr8nls received contain perfomiance criteria which musl be completed by Ihe charity before they become fully enlrtl8d lo the associated income. The amount of government grants recognised in the financial slalamenls was £3.211.448 12022 £3,626,611> 14 Net Incomlngloutgolng r••ourc•s Nel outgoing resources for the year include.. 2023 2022 Depreciation 25,626 19.566 15 Trustees. remuneratlon and expenses During the year the group made the followng transact￿nS with Tru8lee8'. £2,47612022'. £Nill of expenses were ￿1MbUrSed during the year. No Trustees, nor any persons connecl8d with them. hav8 re¢*ived any remuneration from the group during th8 year. P8ge 30

The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2023 16 Staff costs The aggregate p8yroll c0818 were as fdl¢XVS'. 2023 2022 Stsff Gosts durlng th• y•ar w•r•: Wages and salaries Soryal securty costs Pension costs 2,564,796 237,473 204,156 1.692,772 185,161 141,626 3,006,425 2.019,559 The monthly average number of persons Ilncluding senior management I l&gdèrship team} empl)yed by the group during the year expressed 08 full lime equNalenls was a¥ follow$'. 2023 No 57 2022 No 47 Total ernploye88 The number of employees whose emoluments fell within the follwng bands was.. 2023 No 2022 No £60,001 - £70,000 £70,001- £80,000 £80,001- £90,000 £90,ocI1- £100,000 £100,001 - £110,000 £110,001 £120.O¢XI £120,001 - £130,000 The lotsl employee benefrts of key management personnel was £808,88512022 - £738,888). The hwJhesl paid member of staff. received beneflls lolalling £127.071 12022 - £115,325). 17 Auditorf¥ remuneration 2023 2022 Audit of the financk81 $18lement¥ All other non-audrt servicgs 6,000 4,000 6,000 13,776 10,000 19,776 18 Taxatlon The group is a registered charty and is therefore exempl from taxation. Page 31

The Rlvers Trust Notes to the Financial Statements for the Year End•d 31 December 2023 19 Tattgibl• fixqd assets Group Offl¢e and oth•r •qulpment Total Co•t At 1 January 2023 Addrtions 96,950 28,230 96,950 28,230 At 310ecember2023 125,180 125,180 Depreclatlon At 1 January 2023 Charge for the year At 31 December 2023 53,397 25,626 53,397 25,626 79,023 79,023 Not book value Al 31 December 2023 48,157 46,157 Al 31 Decomb¢r 2022 43,553 43,553 Charlty Office and othol equlpmont Total C￿t At 1 January 2023 Addition$ 90,888 24,115 90,686 24,115 Al 31 Decèmbef 2023 114,801 114,801 Depreclatlon Al 1 January 2023 Chargé for the year At 31 December 2023 47.133 25,483 47,133 25,483 72,616 72,616 Net book valu• At 31 December 2023 42,185 42,185 At 31 December 2022 43,553 43,553 Page 32

Tho Rivers Trust Not9$ to the Financial Statements for the Year Ended 31 D•cernber 2023 20 Flxed ass•t invesbnents Charlty Sh8r8¥ In group und&rtaklngs and partlclpatlng Inlerests Subsldlary undertaklng8 Total Cost At 1 January 2023 Additions 200 200 84 At 31 December 2023 284 Net book valu• Al 31 December 2023 284 At 31 Decembèr 2022 200 200 Detall3 ol und•rtaklngs 0el8i18 of the investments in which the charity holds 20% or more of the nominal value of any ck95s of share c8pitsI 8re 88 follows.. Country of Incorporatlon Proportlon of votlng rlghts and shares hokl 2023 2022 PrlnGlp41 actlvlty Und•rtaklng Holdlng Subsidiary und•rtaklngg River Ecosystem Service5 Limited EngLand 8nd Wab$ Ordinary shares Environmental onsulling aclivrties 100% 100% Patchview Designated A¢tfvity Company Republle of Ireland Ordinary 100% Environmental aclivrties Acllvilies of these compani0s are summarised in the Trading aclivilv¥$ note. On the 18th oocember 2023 Abhainn BEO Company, limited by guarantee in the Republic of Ireland, was incorporated and became under the control of The Rivers Trust. This ha$ not been Included in any eonsolidalions due to this being immaterial lo the group as at the year end. Pag8 33

The Rlvers Trust Not95 to the Financial Statsments for the Year End•d 31 December 2023 21 Debtors Group 2023 Charlty 2023 2022 2022 Trade debtors Due from group undertakings Prepayments Accrued income Other debtors 646.769 1,163,280 493,955 211,898 98,036 161,750 1.032,611 147,711 16,330 317,715 2,329 1,516.696 108.882 220.640 20,160 327,538 2,329 1,513,307 976,091 965,639 22 Credltorn.. amounts falllng dufj wlthln ono yaai Group 2023 Charfty 2023 2022 2022 Trade creditors Other taxation and Social ge¢urtty other creditors Acefuals and deferred income 393,303 430,184 372,472 383,673 195,370 450,622 4.847,450 5,886,745 1S1.613 605.896 2,864.830 4.052,523 172,491 450,622 4,274,728 5.270,313 132,076 605.898 2,688,298 3,809.945 O•forrod Incom• 2023 2022 Group Deforred income at 1 January 2023 Resources deferred in tha period Amounts re￿aSed from previous Pefiods 2,500,934 4,419,634 12.500.934) 4,419,634 1,298,543 2.500,934 11,298,543) 2.500,934 Deferred income al year end 2023 2022 Charlty Deferred income 8t 1 January 2023 Resources defarred in the period Amounts re￿aSed from previous periods 2,347,061 3.982,316 12,347.0611 3.962,316 1,246,429 2,347,061 1,246,429 Deferred income al year end 2.347,061 Incomè has been deferred on the ba818 that the relevant performance crfleria have not been met. Page 34

The Rivgrs Trust Notes to the Financial Statemgnts for the Year Endod 31 December 2023 23 Funds Group 8alance at 31 Dec8mber 2023 Balancè at l January 2023 Ineoming Rebources rnsourco$ oxpended Transforn UDrn8trietsd fund8 Gon•ral Cor 1.005,988 1.555,813 11.581.688) {38,3561 941,753 Rostrlcted fund8 3C'8 AA-FLOODS ABP Enforcement Unéertaklng Amazon Watar Replenishment B8rrier Piiorilisalion Bentley Investing in thè Waver Gowy Better Rivers North Wesl Fam Cluster Blagdon River Re81oratlon BRILLlaNCE CaBa CaBA FCRM Capacty Building CamEO Calchmenl Systems Operator Pilot Capacity Building.. NFM Management CaPS Support Carbon Connect Catchment lftjnitoring Co-operative CCEP Norfolk RT 17,976 25,829 117,976} 146,323) 8,243 12,251 9,060 19.0601 23.546 908 123,5461 13.6531 2,745 2.250 12,2501 100.000 2,521 1100.0001 12.5211 869 22,116 18691 11851 310.153 1310.1531 21,931 13.541 113.5411 1,334 11.3341 2.506 1.548 14.745 12,5061 11,5481 {21,2831 7,416 878 598,757 1598,7571 50,879 150.8791 Chalk Stream WG Storymap CIRIA NFM Design Handbook Collabor81ive Fishervè8 Monitoring Programme 2,588 12,5881 154 11541 20,584 120,584) Page 35

The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2023 Balanco at 31 D￿ember 2023 Balance at 1 January 2023 IncomSng Resources r9$0urcgs gxpandad Transfern Coke Replenish 2 Coke Replanish Phase 3 Development Courtauld 2025 Grants Courtauld 2030 DEFRA RIF- Phase 3 EA Your Fisheries Phase 494,256 {494,256) 38,960 7,139 34.443 138,9601 17.1391 134.4431 5,726 (5,7261 (101 10 EA Underspend for Mgrkel Creation East Anglian Collective Action Hub Eels EF Regional Development Grant EIRE Ilrelandl Stsrt-up EFS NI EFSNI GFP21-26 E$m8e FaI￿aIrn Wyre NFM EF WEG Support Facilty ESRI ELA Evenlode Slorymap Farm Advice Dalabasa Fi3hmonger¥' Fisheries Fishmongerg Water Quality Advocacy Foundation for Water Rese8r¢h- CIWEM Garfield Weston Grant Glendgramackin NEIRF GTeal British Sprfng Clean GovAqua Greggs CURRF Humber In-NO-Plastic icatch Hub Network Ireland Vvater StgW8rdship IAWSI John Ellerman Foundation Grant 22,180 122,180 873 18731 4,500 4,500 74,402 44,447 49,773 225.886 174,4021 144.4471 149,7611 1225,8861 32,696 302 32,708 302 1,745 6.243 24,017 390 22,244 3,328 11,7451 16,2431 {24.0171 1,807 1.807 {390} {22,2441 11,0281 12.300} 5,319 15.3191 57,390 124.851 21,936 152 10,480 1,722 1,985 117,250 14,178 157,3901 1124,8511 121,9361 11521 110,4801 11,722) 11,9851 (116,665} 19,556) 11,396) 1811} 4,622 524 1524} 45,403 (45.4031 Page 36

The Rivers Trust Notes to the Financial Ststements for the Year Ended 31 D•eember 2023 Balance at 31 Do¢gmb8r 2023 Balance at 1 January 2023 Incomlng Resourcos resourc05 expended Transfers Leeds NFM IRF LifelP EU CleanEsl Lrfe IP Natural Cour8e Link Chemicals Campaign M&S Water Stewardship Mainstreaming NBS Concept Morec8mbe Bay Volunteer Hub Natural Capital (Anglial Natural En9land Blue Spaces Mapping Nature North A¢JvocaGy NEIRF- BART NEIRF- DIME NEIRF - Eden Catchment NEIRF - London Rlver Bank NEIRF- SERT NEIRF Replenishlng Nature NEIRF- Tyne NERC Q-NFM Northern Irèland NRCP Iconic Partner¥hip¥ NRTICoke R88lorlng Nature Oxford Bathing WaleTS PinPoint Patagonia Tides Preventing Plastic Pollution River Bathing Water Devefv)pment River Buffers Campaign Shelffishgries Risk Mapping sour￿ lo Tap Strategic Developmént Fund 116.244 12,700 161.806 13.602 14.798 {116.2441 112,7001 {182,7861 116,8051 114,7981 57,128 36,148 3.203 25.693 125,693) 2,203 21,583 12,203} {21,583) 25,884 11,147 2,885 78 69,322 {25,6841 {15,4341 12.8851 1761 169,3221 4,287 8,854 6,862 19.8561 16,8621 1,202 eo,254 11.239 8,534 185.8381 111,2391 19.1771 25,584 49 1491 50.788 150.7881 7,130 17,1301 78 1781 712 17121 86,481 195,403) 8.922 37,362 5,589 137,362) 15,589) 2,075 1,308 12,075) 146 11,4541 {1) 3,950 39,773 {45,492) 5.719 3,950 Page 37

The Rivers Trust Notes to the Financial Ststements for tho Yoar Ended 31 December 2023 8alanco at 31 Docembor 2023 Balance at 1 January 2023 Incomlng Resourcgs resources expendgd Transfors Sustainable Catchment Project 2022 Tees RT GIS Training Thames Catchmgnl Tham6s Technical Support Projed The Outfall Safari Topsoil Treasure YoLtrr River Trees for Water IMSAI Turlng Internship Water for Tomorrow Walef Nel Gain Water Resources Priority Catchments W8191 Resources Pdorly Catchments 2023-2024 WalerCoG We81 Wales RT Storymap Woodlands for Water Woodlands for Water Nl WWFICok8 Phase 3 Walland Data Explorer YDRT Meta Data Hub Yorkshire Water Dam Removal Training Other 827,983 1,3D1 203 1827.9831 11,3011 20 12241 (11 10,426 1.133 110,4261 {9831 1,116 17,630 {1,2661 117,6321 5,251 (21 3,824 26.926 10,535 343,213 742 (9,075) 126,926) 19,660) {358,842) 1742 18751 1,205 14,424 1.163 11,163} 63,340 153,340} 116} 1410,1481 18,8791 13,3B91 16 85 410,148 8,879 3,389 85 354 4,456 13541 14,4561 1,450 {1,4501 692 617 75 Total iestrlcted funds 178,150 5,183.650 5,273 966 38.358 106,192 Total funds 1,184,136 6,719,463 6,855,654 1,047,945 The group transferred £38,35812022.' £69,852) from unrestricted funds to restricted fund8 to 8UPPOrt project5 running al a deficit. PwJe 38

The Rlvers Trust Notes to the Flnanclal Statoments for tho Year Ended 31 December 2023 Balanc• at 31 D¢¢&mbèr 2022 Balance at 1 January 2022 Incomlng Rgsourcès resourcgs expendod Transfe Unrestrlctsd lund8 General Core 1,060,349 901,085 1885,5961 169,852) 1,005,988 R•strlctad fund8 3C's AA-FLOODS ABP Enforcement Undertaking Amazon Watsr R8plenishmgnl Ballindery & Lough Neagh Barrier Priorili8otion BRILLlaNCE CaBa C8BA FCRM C8pa¢ity Building CamEO Catchment Systems Operator Pllot Carbon Connect Calchmenl Monitoring Co-operative Chalk Stream WG Slorymap CIRIA NFM Design Handbook Collaborative Fisheries Monitoring Programme Coke Replenish 2 Courtauld 2025 Grants Court8uld 2030 DEFR4 RIF- Pha¥e 3 EA Your Fisheri08 Ph88e 14,874 36.550 114,8741 140,4371 12,130 8,243 3,571 13,5711 159,483 11 59.4831 1,926 1,505 11,9261 11,505 869 22,116 289,116 1289,1161 22,116 25.340 134,984} 9,845 108 13.587 1108 115,6211 9,470 7,416 526,095 {526,8991 804 739 17391 343 13431 26,128 312,620 3,019 78,000 {26.1281 1312,6201 13,0191 178,0001 5,726 5.726 3,245 {3,676} 421 110) EA Undorspend for Market Creation Eels EF Reg￿n81 Oevek)pmenl Grant EIRE Ilrelandl Start-up 4,500 11491 149 4,500 98,259 43,080 198,2591 143,080} Page 39

The Rlvers Trust Notes to the Financial Statements for th8 Year Ended 31 Decem ber 2023 Bttlince at 31 Decembor 2022 Balance at 1 January 2022 Incomlng Resources rosources expended Transfèrs EFS NI EFSNI GFP21-26 Esmee Fairbaim Strategy Dgvelopment Esmee Fairbaim Wyre NFM EF WEG Support Facility ESRI ELA Farm Advlce Database Fishmongers, Fisheriets Fishmongers Water Qu81ily Advocacy Garfi•ld W•st¢n Grant Gl8nderamackin NEIRF Great Bri11gh Spring Clean Gregg8 CURRF Humber In-NO-Plasllc icatch Hub Network John Elleman Foundation Grant Leeds NFM IRF LifelP EU CL9anE8t Life IP Natur81 Coursè Link Chemicals CampaSgn M&S Water Stewardship Lough Ngagh Projgct Natural Capital (Anglial Natural England 81ue Spaces Mopping NEIRF- BART NEIRF- DIME NEIRF - Eden Catchment NEIRF- SERT NEIRF Replenishing Nature NEIRF- Tyne NERC Q-NFM Nene NFM Northem Ireland 91.217 98.904 158.5211 198,6011 32.696 303 610 16101 26,331 3,545 5,475 13,047 44,112 {26,331} (1.7381 {5,4751 110,4401 174,8811 1.807 12,6081 768 30,001 22,053 56,720 12.016 162 72.206 700 94,079 2.821 122,0531 156,7201 112,5161 11621 172,2061 17001 {94.0791 12,8211 500 11,3961 11,3961 39,410 59,976 4,486 104,754 11,398 6,432 480 18 {39.4101 {60,0561 14,4861 1114,0811 111,3981 16,432} 80 66.45S 57.128 1480) 118) 3,692 1,520 1,312 1,885 2,793 (3,6921 11,5201 11,3121 12,6741 12,7931 789 25,148 755 3,827 2,645 125,1481 12551 13.8271 13,0181 15001 373 49 49 Page 40

The Rivers Trust Notes to the Financial Statements for tho Yoar Ended 31 December 2023 Balan¢e 8t 31 Dgcembgr 2022 Balance at 1 January 2022 Incomlng Rgsoureos resources oxpondgd Tran8for* Northumberland Story Map NRTICoke ResloTing Nature Oxford Bathin9 Water8 PinPoint Patagonia Tides Pfevenling Plastic Pollulion Primrose Lodge Blue Prince of Wales Charitable Foundation River Bathing Watsr Development River Buffers Campaign RT Movement Drone Surverys Shellfisherie8 Risk Mapping Source lo Tap Slralegic Development Fund Sustainable Calchmenl Proie¢l 2022 Th8me821 Brent Slorymap Thames Catchment Thames Technical Support Project The Outfall Safari Topsoil Treasur¢ Your Rivor Trees for Water IMSAI Turing Internship Wat8r for Tomorrow Water Resources Priorty Catchments W8terCoG West Wales RT SloryM8p Woodlands for Water WWFICoke Phase 3 {211 21 6,585 2,300 16,5851 12,3001 78 78 712 469 17891 299 711 120,005 23,773 1167.5121 123,7731 47,507 65.551 165.551) 2.908 214 12,9081 12141 1,700 11,7141 14 4.043 191,528 14,043} 1203,087) 11,559 3,950 50,518 {50,518} 3.950 496,148 1496,148} 583 4,333 1583) {4,3331 20 20 6,847 229 39,033 7,863 30,136 8,872 276,505 {6,8471 12291 140,7221 17,8831 (30,1361 18,8721 1270,2991 1,116 17,630 1,116 17,630 1,689 8,218 14,424 119,673 440,700 85 460,067 680 1119,6731 1439,6081 {1,0931 {85) 1459,9851 (6801 85 Page 41

The Rlvers Trust Notes to tho Flnanclal Statements for the Year Ended 31 December 2023 Balance at 31 December 2022 Balance at 1 January 2Q22 Incomlng Resou￿¢$ r8sources expended Tran8for8 YDRT Mela 0818 Hub Yorkshire Water Ca8A Partnerships Othef 11,561 (11.5611 5.826 (5,8261 695 692 Total ra8tr1et￿ fund# 182,339 4,830.833 14,904,874) 69,852 178,150 Total fund• 1,242,688 5.731,918 5,790,470 1.184.136 Page 42

The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2023 The above projects can be $ummarised as follows.. 3C'8'. A collabor811ve project worf(ing with 8 range of partners, designed to explore a collaboratNe approach lo coastal management, wllh a Specif￿ focus on the Severn and Thames tidal reaches and a national framework. AA-Floods'. An EU Inlerreg funded project lo reduce human and material damages due lo flooding by improving the tools of Prevention, Alert and Cnsis Management at the Local Sc81e. ABP Enforcement Undertaking.. Developing a serviee for local nver trusts to enable them to have the capacity and Capability to managè enforcèmènt undert8kings. Amazon Water Repleni8hmenl.' Fundlng from Amazon Data Services Inc., for new wetlands, the lirsl 8t Wilton We118nds in Wesl Berk8hire and secondly, creation of wetlands on the River Kennel al Fffield, Wiltshira. Barrier Priori15salion.' working in partnership with the Environment Agency to produce fragmenlalion sl81islics for every river in England. These slatisllcs wlll be used by the EA to drive their b8rrier pnorilisalion work bul will also be used by CaBA, rivers Irusl$ and water ¢ompanies lo sel their own pnorilies for barrier removal by combining tho fragmenlalion stslislics with local knowledge. data and aval18b￿ funding. Bentley Investing in the Weaver Goyry.. This n8w proleet with the 8Ènlley Environmental FOundat￿n Charitabl¢ Tru$l will look to sofeguard and improve the Vallèy Brook in the Weaver Gowy c81chrnenl through a large Sca￿ wetland construction and river restoration aclivilie5, and building the capacty, capabiliti88 and envlronmenlal ski118 required lo deliver the long-teryn environmental improvemonls. Better River8 North We8t Farm CIu8lers.' Funding from United Utllitieg for farm grants to drNe 8pproo¢he$ lo ensure that produ¢live agri¢ullurg and healthy rivers COwexi8t SU8tainably, side by side. Blagdon River Restoration.. This project is 8 continu81ion of work c8rrfed out la81 year (by EA) to develop th8 Pont and B1￿h River Resloralion 8nd Nature Recovery Plan. The B1￿h al Blagdon project will work in partri8r8hip wrth EA and The Rivers Tru81 lo engage a contractor to deveksp do18il8d designs for river and h8bilal raslor81ion at fv40 siles within the BIWh from Pont to Tidal Limit waterbody. The aim of Ihg proje¢l is lo r&in$lale or reprodu￿ natural river process as much 8$ 811e conslrainls permit, lo provpje 8 long-tgrm and more sustainable solution for the tsvo degraded reaches of the river Blyth. CaBA FCRM Capacity Building.. to continue to buihd capaclty within CaBA lo contribute to the delivery of the Flood Risk Management Plan$12020-20261. C8mEO Calchmenl Systems Operator Pilot." CamEO catchment In81s including natural capitsl metrics development, funded by Anglian Watèr. Catchment Partnership Support {CaPSI.' Funding from Thames Wal8r for training to a￿18t with d8veloping the capacty of the 27 calchmenl partnerships in the Thames Water operational area. Carbon Connects.. An EU Interreg project to reduce the high l¢)olprinl of degraded peatland8 in NW Europe by inlroduang innovative business mode15 based on $u$tainable land management pracliees. Page 43

The Rlvers Trust Notes to the Financial Statements for the Year Ended 31 December 2023 Castco.. Catchment Monitoring Co-operative. Ofivat Water B￿akthrough Challenge funding lo klck-5tart a transformational change in the gathering and sharing of vf(al local evidence to enable better management of the water environment. Establishing the first national framework for citizen science and local community fjvidence gathering alongside technologically advanced monftoring solutions, to fill the significant 8vidence gaps that have prevented government, bu$lness 8nd communities working tog8lher to improve our fivers. Calchmenl 8ased Appro8ch ICaBAI.' Funds received from Defra under the catchment based approach initiative lo provide national technical support to all NGO catchment partnerships in England and Wales and lo support additKJnal sp8cifie aspects idenlrfied and determined by the C8BA Nat￿n81 Steering (Support} Group. CCEP Norfolk River Tru8t Ini118tive.' The focus of the funding from Cola-cola Europactfic Partners will bg used lo build the work of the Norfolk Rivers Tfiist wrth their Water Sensitive faming initiative and supporting farmers, particular￿ sugar beet growers, to establish bosl pra¢li¢e approaches to land m8nag8menl in order to reduce the impact of agriculiure on key water sources in the catchment. Ch8lk Slrearn Working Group Story Map,. Develop a 'Hub' for the Ch81k stream working group on thè COBA data platfom to provide 8 one slop shop for CaBA and NRN partnerships lo access dats. guid8nce and resources relev8nl Its work on chalk streams. This 15 a partnership project belween the Environment Agency and the CaBA leehnical team. CleanEST', EU Life Integrated Projed working with multiple partners on developmènt of •n intepraled water m8nagemenl and ils modern tools in Estonia. Coke Replgni8h.' a large cal¢hmenl-b88ed program fully funded by Coca Cola Foundation including creation of new wetlands and delivering improvemènts lo water quality and water sleward$hlp. Coll8bor8tive Fi8herie8 Monilofing Programme.. A pilot collaborative agreement wrth the Enwronmanl Agency to enhance migratory salmonld monitoring dal8 collection and sharing. Courtauld 2025 & 2030 Grants.. Al ils core. the Courtauld 2025 Walgr Ambition ond Court8uld 2030 Water Ro8dm8p includes a programme of collective action projects that aim lo improve the qu81ity and avai18bility of water in key sourcing areas for the UK'S tood & drink sector and lo addr¢ss the challenges we collectively fxe in protecting criticgl w8l•r wourc88 for food Supply, for nature and for local communilias. EA Underspend for Market Creation.. A proje¢l WTth the Environment Agency on capacity bLrildlng in applying the 'Wyre Investment Readlness Fund, approach on a number of market led inilialives, including the Eden Future trades and Glenderamackin wrthin th¢ North We81. East Anglian Collective Action Hub.. Utilising funding from Anglian Water lo establish the East of England Planning Hub. The hub will bring logether national, regional and local expertise, and stakeho￿orS in the region. Ils primary aim is lo svpport development ol Anglian Watefs WINEP. Eels.. funding lo support continued dèvelopment work related lo Eel populations. Esmée Fairbairn Regional Development Grant.. to build capacity, consistency and collaboration wrthin th? rivers trust movement. Esmée Fairbairn Wyre NFM.. investigating the extent to which natur81 fbod management In the Wyre Valley can be funded by private investm8nl. Page 44

The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2023 Esmée Fairbaim WEG Support Facility.. facilrtating h)ans to member trusts in the business ol delwering work that will improve tha condrtion of rivers or that will improve the slalus of protected w8lland8 in the UK in accordance with 8greements with WEG. EFS NI & EFSNI GFP21_26'. The Environmental Farming Scheme IEFSI ts a voluntsry scheme, L7unched by DAERA in February 2017, and designed lo support famiers in implementing environm8nlally beneficial famiing practices on agricultural land. Central aims of the scheme include improved water quality an(i water management. the reduction of soil erosion and better on-fami soil management. The Rivers Trust 18 going lo be directly involved In running the scheme In the area ol Uppèr Bann River (County ArmaghlDownl and Ballinderry River (County TyronglLondonderry-Derry}. This Scheme has now been extended with furthgr funding lo cover the Dundrum River Icounly Downl. 8allinderry River & westèrn-shore of Lough Neagh (County TyTonelLondonderry-Derryl and Lagan Rwer (County DownlAnlriml. ESRI Enterprise Licen8e Agreement IELAI.. Training and education within the river8 trust movement lo devalop the us8 of ArcGIS resources and standards. Evonlode Story Map.. Partnership wrth Wild Oxfor(Ishire. F8nn Advice Dal8base lor Agrieullural Hubl.. Developing a CaBA Agriculture Hub with funding from WWF-UK, Tesco, Waitrose and other businesses and organisalion$ wrth the intention lo support ¢roy$ 8eclor collaboration 81 a catchrnenl scale. Flshmongers, Fisheries.. a grant from Ihg Fishmongers. Company for the Trust lo evaluate freshwater rBheries monagemenl in England, WaLgs and Northern Ireland. Fl8hmongers' Water Quality Advocacy.. a grant from the Fishmc*ngor¥' Company centrod around walar quality advocacy. with parti¢ulor r&feren¢g to 'turning the tide on sewage, and influencing long range outcome5 that will be of benefit lo the shellfish sector, a5 well as all other coastal water stakeholders. Found8lion for Water Research - CIWEM.. A five year partnership beh¥een CIWEM and The Rivers Trust brings the technic81 depth and bre8dlh of reach required to sustain and enhance FWR'S legacy., to Inform. inspire and influen¢e improved water and environmentsl management. Garfield Weston Grant.. to build core capaGty within The Rivers Trust. Glenderamackin NEIRF.. Workin9 Imlh West Cumbria River8 Trust lo create a commercial structure {CIC} th81 will drive enhancement of the walgr environment and surrounding land to achieve or excegd the objectives sel by the NW River Basin Management P18n and the Calchmenl Action Plan for the Glenderamackin. GovAqu8'. A Horizon Europe project on govemanco innovotions for a Iransltion to sustsinablg and equitable water use in Europe. Greggs Community Urb8n River Regeneration Fund.. this project is fully funded by the Greggs Foundation 8nd is designed lo engage and directly bènefit local communrties through education. Humber. funding provided by Associated British Port$ by way of Mil￿OI10n for the Green Port Development lo undertake nver improvements to aid fish passage in the catchments flowing into the Humber Estuary. In-NO-Plaslic'. A Horizon Europe project working on innovative approaches towards prevention, removal and reuse of marine plasbc litter. Page 45

The Rlvers Trust Not85 to the Financial Statements for the Yèar Ended 31 December 2023 iC8lch Hub Nthork.. A Loc81 Authority Water8 Programme Communty Water Oevelopmenl Fund grant 10 5UPPOrt communities in progressing watèr related projects and initiatives. The ne￿Ork with facililale regional meetings. provide additional rosources and encourage knowledge transfer in Ireland. Ireland Start-up.. funding provided by the Government of Ireland lo promote rivers trust development In Ireland. Ireland Water Stewardship.. A project funded by Amazon Data SeNc8s Ireland Ltd and the Bonneville Environmental Foundation to idenlfy opportunit￿8 lor sustainable replenishment projects in Ireland and lo build capacity in the water environment. John Ellerman Foundation Grant.. Funding towards salary co8ts of key commercial and communication staff. Leeds NFM Investment Readinèss.. Development of a commercial investment model for the Leeds NFM programme, based on thè Wyre NFM IR project, working closely with the Aire RT, EA, Leeds City Council and p8rtnor8. Link Chemicals.. Funding from Wildlrfe and Countryside Link towards an End Chemical Pollution campaign river pollution analysis and mapping. M&S Water Slew8rd8hip'. Funding for Methay and Wye & Usk wgler stewardship project8. Mainslreoming Naluro 8asod Solutions INbSI'. Ofvvat Innovation Funding for nalure-ba6èd solutions. NBS have the potential lo provide multiple socit>economic and environmental benefits by tackling oeding, drought and water qualrty issues al landscape scale. However, there are systemic barriers currenlty Pfevenling wider adoption 8nd the benefits of NBS from being fully maximi8ed, Such as.. fragmenledlsiloed investment, lack of slandardi88tlon 8nd regulatory reslriclions. Thi5 transformational programmg of work brings together mulli-seclorial èxpèrtise and leadership to collaboralNely create and test new solutions lo remove these barriers through real lif8 case studies and facililale and enable Ir8nsrtion of NBS into busines8-a8-u8ual lo deliver greater value for customers. souely, environment. more￿mbe Bay Volunteer Hub.. proje¢t lo deliver a volunteer hub online portal to signp081 volunteers to a range of volunteering opportunities. Natural Caprtal (Anglial.. Natural caprtal project in partnership ￿th Anglian Water. WWF and Elveden Eslale. Natural Course". EU Llfe Inlegraled Project lo support the implemenlalion ol th8 North Wesl {NWI River 8asin Management Plan by bu1￿1ng the slr81egic capacities needed in authorities and slakeholdors. This will lead lo new ways of working that will make protecting water re80urces in the NVV more achiev8ble and more affordable. Natur81 England Blue Spaces Mapplng.. This is a partnership project betsveen Natural England and The Rivers Trust ITRTI the purpose of which is to continue to build capacrty within the Calchmgnl-8ased Approach ICaBAI & Nature Recovery Network INRNI partnerships, to use blue space mapping to maximise the heaKh & wellbeing benelils ol their work. Nature North Advocacy.. A funded advocacy role lo utilise existing connections and id8ntfy opportunities to make new connections lo gain greater visibility, support and investment in nature recovery and in¢rea$e awareness of Nature North. Page 46

The Rlvers Trust Notes to the Financial Statements for the Yoar Ended 31 December 2023 NEIRF - BART.. This Natur81 Environment Investrnenl Readiness Fund project wll develop and pllot a freshwater biodiversity model that will secure long-term funding for river restoration. The project is being led by 8ris1ol Avon Rivers Trust. NEIRF - DIME.. Working with the Wy8 and Usk FoundalK>n to provide assistance on the DIME Natural Environment Investment Readiness Fund project. NEIRF Eden Catchment.. A Natural Environment Investmènt Readine88 Fund project funded by the Environment Agency to establish commercial guidance and future trades for the Eden Calchmenl market. NEIRF - London Rlver Bank.. Natur81 Environment Investment Readiness Fund project to under8tsnd the market for river-b8$ed Biodivgt8ity Nèt Gain units and water availability 8nd qualty improvements across London. NEIRF Replenishing Nature.. A Natural Environment Investment Readiness Fund project fundod by the Environment Agency lo establish a formuli8ed water stewardship metric lo make it easier for busine¥¥e$ to Inve8t in water. NEIRF SERT.. Working with South East Rivers Trust on a Natural Environment Investment Readiness Fund proj&cl to design and establish a vehicle for financing and delivery of nature based 801ulions reqUI￿d for water resources resilience and wider landsc8pe recovery in the 8euh calchmenl and beyond. NEIRF - Tyne.. Working in p8rtn9r3hip with Tyne Rivers Trust on a Natural Environment Investment Readiness Fund project lo sel up a special purpose vehicle to fa¢ilitslg trading of the environmanlal benefits provided by fine 68dimenl load reduction in the River Tyne. NERC Q-NFM.. Working with Lanc8Ster University on quantifying the likety magnitude of nalure-based flood mitigation effec15 across large catchments. NRCP Iconic Partnerships.. An Environment Agency Partnership Grant lo as$isl wrth building and 81rengthening the Northumberfand Catchment P8rtner8hip. NRTICoke Restoring Nature.. Working with Norfolk Rivers Trust ¢Jsing Coca Cola funding on a project 'Resloring Nature and Replenishing Wator al 8 Landscape-scalé,. Pilot Rèsilience Project.. To support two recently established rivers trusts in Ireland Ilnishowen and Maiguel through the initial years of op¢ralion, as they transform from volunteer-led fledgling organisations to sustainable charities capable of securing and delivering catchmenl-scale projects. Preventing Pla81ic Pollution.. An EU Interreg project lo enhance and protect the coastal and transitional water ecosystems by nationallylinlemalionally enabling transformational change in both the scale and impact of aclivities lo tackle plastic pollution. River B8lhing Water Development.. Funding from multiple sources including the 08k Foundation and the Alba Trust lo further the development of public awareness of river pollution and sewer oullalls through work on bathing water designations for rivers. River Buffers Campaign." A project to deliver a mullrfaceled campaign wh￿h educates a wide range ol audiences Ilhe public, 18ndowners, ministers, governmental bodie5, MP'$ and other relevant slakeholdersl about the benefits of river buffers and builds a p18tfom for direct discussion with landowners and policy makers. Page 47

The Rivers Trust Notes to the Financial Ststements for the Year Ended 31 De¢8mber 2023 Shellfisherie$ Risk Mapping.. Grant funding from the Fi¥hmongers' Ctsmpany to develop sp81ial anatysis of microbial pollution risk lo sheiif15herie5. Source to Tap.. A fully funded project to develop cross-border catchment management both north and south of the Irish border funded by the EU Ilnterregl wth the Government of Ireland and Northem Ireland Executive providing match-funding. Strategic Development Fund.. A fund from donations received, estsbli8hed to carry out slrat8gic development in accordance with the Trust's objective5. Svslainable Calchmenl Project$ 2022-2023.. Capital funding from the Department of Agriculture, Environment 8nd Rural Affairs in Northem Ireland. Wort(ing in partnership with Ballinderry Rivers Trust to deliver a variety of bespoke 8gri-environmenlal on-fami measures antj intervenlitsns, designed to improve and protect water and air qualty in the Dundrum, Ballind&rry, Satterslown and the Upper 8ann rivers, catchments. Tee8 RT GIS Training., GIS techn￿81 training and support for Tees Rivers Trust staff. Thames Catchment.. Funding from Thames Watsr lo facilitate a partnership with South East Rivers Tru8t to $upport Thames Calchmenl CaBA Partnershlps. Tham88 Te¢hnic81 Support Project,. Funding from Thame$ Water lo further cat¢hment partner8hip support. Tho Ouffall Safari.. Working in partner8hip with Trent RT to test the Pollution Watchdog Outlall Saf8ri app. Topsoil.. an EU Inlerreg project which explored the po88ibililies for using the uppenno¥l soil18y6r8 10 solve current and future water challenges. Treasure Your River.. A projèct with the Hubbtsb Foundation UK to work collaboratively lo deliver the aims of the campaign around the reduction of litter from rivers with emphasis on monrtoring and avaluation, Tr88s for Water.. Funding from the Mis8ing Salmon Alliance lo develop a movement wide pipeline ol tree planting project8 and a hub for provi8ion of technical support around tree planting and carbon regislralion. Turing Intemship.. Gr8nl funding from the Alan Turing Inslilule Climate and Environment Pilot TINIDSG programme for an Internship and data study group. Water lor Tomorrow.. An EU Inlerreg project lo develop and implement new mulli sector adaptation strategies to facilrtate sustainable management of water re$ources. Water Resources Priority Calchmen15.' a project with the Environment Ageney to facilitate delivery of sustsinable Water Resource outcomes in idenlrfied catchments as part of the Catchment Baged Approach {CaBAI and suppgrt wider wmmunication$ of the ￿n￿TrtS of a collaborative approach lo addressing w81ei resources challenges. Water Nel Gain.. Oftval Water Breakthrough Challenge funding to explore the governance and technical elements of planning, designing, creating and trading of a water bank through a distributive network of ecologically connected ponds and lakes linked to widef Nature Based SolulLon$ that passively contribute lo summ8r base flows. Page 48

The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2023 Watef Resources Pr￿Tity Calchmenls.. Funding from the Environment Agency to facilitsle d81ivery ol sustainable water resources outcomes in 6-8 identffied catchments as part of the Catchment Based Approach, including embedding this approach into abstraction licensing 8lr81eg￿s and River Basin Management Plans to 2027. Woodlands for Water.. A grant from Defra lo uplift Ripanan planting, with 3,150 hectares of new Riparian woodland crèated as a result of this project'8 SUPPOrt, dev8lopmenl and engagement activities. WWFICoke Phase 3.. A project lo upscak the Water Stewardship approach lo a national scale and Inl8gratg wrth CaBA, alongside developing relalionships with large national and inlomalional orporalgs intfrrested in becoming water slewards. Wet18nd Data Explorer. Collaborative 8greement with The WIIdf￿ & Wetlands Trust lo create a Wetland Dats Explorer App, YDRT Mota Data Hub.. Collaborative agreement with the Yorkshire Dales Rivers Trust to devglop Metadata hub for the River Wharfe. Yorkghlre Water Dam Removal Training.. Partnership agreèment with Yorkshirè Water lo Idenllfy low risk barrlèr remval8 whkh will giv• th• gro81o$t b•n•fits lo Yorkshiro rI￿r$. Page 49

The Rivers Trust Notes to tha Financial Statements for the Year Ended 31 December 2023 24 Analy$i$ of nèt assets bet￿0n fund8 Group Total funds at31 Docornber 2023 Unrgstrlctsd funds Genèral Rèstrlctod funds Tangible fixed assets Current assets Current liabilities 46,157 1.512,028 1616,432 46,157 6,888,533 15,886,745) 5,376,505 5,270,313 Total nel asgets 941,753 106,192 1,047.945 Total funds at31 Dècomber 2022 Unrostrlcted funds General Restrlcted funds Tangible fixed a8881$ Current a￿ts Current liabilities 43.553 1,205,011 242,578 43.553 5,793,1C 4,052,523 1,184,136 3,988,095 3,809,945 178,150 Total net assets 1,005,986 28 Analy85• of n•t fund# Group At31 Dècember 2Q23 At 1 January 2023 Flnanclng C•8h flows C88h at bank and in hand 3,679,799 3 679,799 2,232,643 2 232,643 5 912,442 5912442 At31 DKornbor 2022 At 1 Janu•ry 2022 Flnancing ¢•¥h flows Cash al bank and in hand Debt due within one year Current asset investments 2.278.157 1122,0001 122.000 2 278,1 $7 1,401.642 122,000 122 000 3,679,799 1401,642 3,679,799 Page SO

The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2023 28 Relatod party transactions Income r¥eived from Fell¢)ws who are also Trustees lotalled £5,00012022.' £14,000). During the year the charity also received lot81 donations of £99,184 12022 £94.7791 from other related parties. A Trusloo of The Rivers Trust is the Chief Executive Offi'cer of Ribble Rivers Trust IRRTI. During the year, The Rivers Trust purchased se￿1CeS amounting to £45,43S {2022." £18,127) from RRT and received £1,500 (2022.. £1,500) from them. At the year4nd there was a crèditor balance of £517 12022. £9721 and a debtor balance of £1,53812022. £97}. A Trustee of The Rivefs Tru8t is the Chief Executive Officer of Action for the River Kennet (ARKI. During the year, The Rivers Trust purchasèd 8eNices 8mounling lo £17.353 12022.. £nill from ARK and received £1,740 12022.. £1.023} from them. Al the Year￿nd there was a debtor balance of £275 oulslanding12022.. £nill. A Trustee of The Rivers Tru8t18 the co-chief Executive Officer of the South East River8 Tru81 ISERTI. During thè ye8r, The Rivers Trust purchased services amounting to £387,574 12022.. £42,064) from SERT and recèived £18,82512022.. £8,975) from them. Al the year*nd there was a debtor balance of £2,871 12022. £nill A Truste8 of The Rivers Tru81 is a Trustee of the Wye and Usk Foundation IVVUFI. Durlng the year, The Rivers Trust purchased seNices amounllng lo £47,360 12022.. £59,059> from WUF and received £8.362 12022.. £2,756) from them. Al the year4nd there was a creditor balance of £10.344 {2022.' £25,647). An ex-Truslee of The Rivers Tnjsl (to 4th July 2023} Is the Chw Execullve Offlcer of Weslcountry Rivers Trust IWRTI. During the first slx months ol the year, The Rivers Trust purchased service8 amounting to £40,52312022.. £167,902) from wKr and received £1.50012022.. £1,5001 from them. An ex-Truslee of The Rbvers Trust Ilo 4th July 20231 is a director of Fishmongerfs Company. During the first months of the year, The Rivers Trust received £72.30012022'. £70,888) from them. Costs were incurred on behalf of Rivers Ecosystem Services Limrted, which 18 a subsidiary of The Rivers Trust, in the period lor staff and other costs of £192,724 12022." £124,513). Profits from the subsidiary are also gift aKled to The Rivers Tru8t each year. Al the year end there wa8 a balance of £197.836 owed lo the charrty12022.' £147,710). Page 51