Company registration number: 05136671 UK charity registration number. 1107144 Ireland charity registration number: 20206391 The Rivers Trust (A company limited by guarantee) Annu81 Report and Financial Statements for the Year Ended 31 December 2024 WESTCOTTS CMARIEAFD ACCOUt4TA14TS 1 gU$INE55 ADVI$GR$
The Rivers Trust Contents Reference and Administrative Detai18 1to2 Trustees, Report 3to13 Independent Auditols Report 14to17 Con801idated Statement of Flnancial Activities 18 Consolidated Balance Sheet 19 Balance Sheet 20 Consolidated Stat8ment of Cash Flows 21 Notes to the Financial Statements 22to58
Thè Rivers Trust Reference and Admlnistrative Details Presldent l D Gregg OBE Trustegs Dr B R Davies J E Harrlson C Hitchmough (resigned 2 July 2024) J A Mills A W Muirhead B A O'Hanrahan E S Passey B C Schoonbaert JWASpees G D M Thomas (Chairl Jmwhite Company Secretary R Caley Chlef Executlvo Offlcer M Lloyd UK Charity Reglstration Number 1107144 Ireland Charfty Reglstration Number 20206391 Company Reglstratlon NuMr 05136671 The charity is incorporated in England and Wales. Page 1
Tha Rivers Trust Referenc8 and Adminlstrative Details Reglstered Office Rain-charm House Kyl Cober Parc Stoke Climsland Callington Comwall PL17 8PH Auditor Westcotts (SWI LLP Chartered accountants & statutory auditors Plym House 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT Bankers The Co-operative Bank PIC P.0. Box 101 1 Balloon Street Manchester M60 4EP Lloyds Bank PIC 8 Royal Parade Plymouth PL1 1TX Santander UK PIC Bridle Road Bootle Merseyside L30 4GB Page 2
The Rivers Trust Trustees. Report The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditorfs report of the charitable company for the year ended 31 December 2024. Objects The objects of the Trust are-. To advance the education of the public in the management of water and environmental protection. conservation, rehabilitation and improvement. To advance the education of the public in the understanding of rivers, their basins, fauna and flora. To protect, conserve, rehabilitate and improve the rivers, streams, watercourses and river basins, including adjacent coastal waters and water impoundments of the United Kingdom and Ireland for the public benefit. Our underlying aim is to promote sustainable and integrated catchment management, based on the ecosystem approach and sound environmental practices, which can bring economic and social benefits to local communities, in addition to environmental improvements. To complemant th18 aim, the Trust promotes a grass roots or bottom-up approach to deliver local solutions to issues. Policles, objectives and public beneflt statement The Board's strategy for achieving its objects and aims is twofold.. through its core activities, the Trust acts as the umbrella organisation to promole the development of the Rivers Trust movement, to build capacity at the local Rivers Trust level to deliver the Trust's objects across England, Wales, Northem Ireland and Ireland,. through its project activities, the Trust pursues mainly public grant funded opportunities to promote and develop practical solutions to environmental issues for public benefit, but it is increasingly developing partnerships with the private sector to grow the scale of delivery. In setting objectives, planning for activities and delivering those activities, the Trustees have regard for, and have given due consideration to, general guidance published by the Charity Commission relating to public benefit. The Trustees are fully satisfied that the Trust has complied with its educational and environmental benefrt purposes, and that such purpose5 are beneficial to local communities and others wherever Ihere is a river. The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales and the Charities Regulator in Ireland. Fundraislng disclosures The Trust undertakes limited fundraising activity direct from the public and has engaged no-one to act on its behalf to do so. We are a member of the Fundraising Regulator and are committed to the Fundraising Promise and adherence to the Code of Fundraising Practice. We have safeguards in place should we require third parties to act on our behalf that require them to confirm they comply with the same code of practice to protect our supporters and the Charity's reputation. We have no compliance disclosures covering the period. We have received no complaints about fundraising activity and would undertake a risk assessment of any fundraising activity or scheme in advance of approval by our senior management team to ensure that we have adequately assured ourselves that y will avoid unreasonably intruding on any person's privacy, being unasOnablY persistent or placing undue pressure on a person to gNe money or other property. Page 3
The Rivers Trust Trustses. Report Ovemew of Strategic Activitles The Trust had 75 full-time equivalent employees at the end of 2024 and ha5 grown rapidly over the past four years. Its strategy comprises three functional groupings.. (1) Increasing the resilience, consistency and scale of the Rivers Trust network of charities to drive greater positive environmental impact from their activities., (2) Education and advocacy for improvements in policy and legislation by governments and their agencies., and to drive change in behaviour by individuals and businesses; (3) Developing The Rivers Trust's own resilience, capacity and efficiency. A core focus of the Trust is to promote, encourage and support Rivers Trusts to increase the positive imp8Ct of their work throughout the UK and Ireland. Rivers Trusts are local, community-18d charitable organisations delivering education, water management advice and practical conservation work from source to sea, and improving land use, rivers 8nd wetlands at the river catchment scale. The Rivers Trust assists with fundrsising, securing delivery contracts and practical support (e.g. technical, communications, fundraising) to enable its member Rivers Trusts to achieve more than they would without support. Equally important is the dissemination of best practice and techniques. The Trust accordingly organises seminars, conferences, communities of practice etc., for its members to learn from each other. In the past 4 years, the Rivers Trust movement has grown its income from around £20m in 2020 to £75m in 2024. Rivers Trusts cannot restore rivers to good health alone. The Rivers Trust advocates in England and Ireland for changes to policy and legislation to prevent damage to rivers and to provide a coherent framework for the delivery of improvements. It also educates and advocates for changes in bahaviour by individuals and businesses so that they reduce their impact on river health. In order to achieve its mission more effectively, The Rivers Trust must also develop Its own financial and operational resillence and capacity by raising core funds, implementing new management systems and improving its approach to equty, diversity and inclusion. The next section provides some more detail about the specific activities to deliver these strategic objectives. Page 4
The Rivers Trust Trustees. Raport 1. INCREASING THE RESILIENCE, CONSISTENCY AND SCALE OF THE RIVERS TRUST NETWORK Funding for delivery by member Trusts The Trust currently relies heavily on grant applicAtions for projects to develop, deliver and disseminate innovative solutions related to the river environment to a wide audience across the UK, Ireland and Europe. Project bids encourage partnerships, target activity towards societal needs and promote fresh solutions to problems. In most cases, projects also provide funding for local Rivers Trusts to deliver environmental improvements and education. The Trust 15 Still able to access European Union funding, principally for ils activities in Ireland now that the UK has left the EU. The Rivers Trust has increasingly been securing funding from private companies to support its own, and its members activities. This has included getting accepted onto procurement frameworks at a national level to enable member Trusts to deliver larger contracts. There is a list of projects undertaken by the Trust later in this annual report. Grants and loans Where funds permit, the Trust facilitates and delivers financial support through the provision of discretionary grants to Rivers Trusts from its core funds. primarily in the start-up phase or to promote sustainability. It also operates a loan facility for member Trusts to assist them with ca5hflow for projects which are paid in arrears by funders. Practical support The Rivers Trust has developed a Network Support Service to assist with the development of its member Trusts so that they can have greater positive impact. This involves helping them with business and governance development issues, data management and presentation, regional co-ordination of members, activities, driving strategic partnerships and providing free or low cost training to develop the knowledge and skills of staff and trustees. In 2024 a Rivers Trust Charter was drafted collaboratively with member Trusts to increase the sense of unity of purpose, consistency and coherence throughout the neork. The Trust has established online Communities of Practice on a wide range of topics including Health & Safety, Green Finance, Communications and Governance. Each of these has a programme of webinars and an online chat function which enables member Rivers Trusts to share information and ideas, and to offer each other support. 2. EDUCATION AND ADVOCACY FOR POLICY AND LEGISLATION AND TO DRIVE CHANGE IN BEHAVIOUR Pollcy The Rivers Trust continued to promote and play a key role in the delivery of the Catchment-Based Approach (CaBA) in England. which aims to increase collaboration beeen organisations at a river catchment scale to improve the planning and delivery of environmental improvements. The organisation is a leading member of the Blueprint for Water coalition of NGOS in England, the Freshwater Taskforce in Northern Ireland and An Foram Uisce in Ireland and works with these bodies to advocate for a sustainable future for land and water by responding to consultations and issuing policy papers to promote innovative solutions. The Trust also carries out direct advocacy in its own right through meetings with ministers and officials in the relevant governments and their agencies in England, Northern Ireland and Ireland. Page 5
The Rivers Trust Trustees. Report Nature Based Solutlons The Trust is a leading advocate for the use of nature based solutions such as restored soils, wetlands, ponds, sustainable drainage schemes, tree and hedge planting, and re-naturalised river channels. These have an important role to play in improving the resilience of rivers and their catchments to climate change, pollution and over-abslraction of water. The Trust influenced the development of the Water Industry Natural Environment Programme and Price Review process for 2025 - 2030 to increase the funding allocated for nature based solutions from £2.2bn to £3.3bn. It continues to run major programme with more than 20 partner organisations to identify the barriers to the increasing use of natural solutions and ways of overcoming these barriers. This is a key part of the Trust's work to refomi land management practeS by working with famers and land managers to slow the flow of water across the landscape, thereby reducing flood risk and pollution and restoring groundwater aquifers. Collaborative Monltorlng The Trust continued to work with over 30 partner organisations on the development of the Catchment Systems Thinking Co-operative, which aims to demonstrate a range of models for building collaborative data frameworks and a weight of evidence approach at a catchment, regional and national scale to increase our understanding of the heallh of rivers and to enable us to target and monitor the impact of interventions much more effectively. The Trust has set up a Monitoring T8skf0r to take fomard recommendationg to govemment for this to become a national scheme. It has also led the development of data hubs for recording of nature-based solutions that have been implemented for various purposes, again wrth a view to government adopting this approach to provide a single Sour of information about projects being carried out in every river catchment, local authority area and nationally. In 2024 an Independent Water Commission was estsblished in England and Wales and the Trust has devoted substantial resources to providing evidence and policy proposals to the Commission promoting a systems approach to collaborative river catchment management at a local and regional scale to build on the success of the Catchment Based Approach {CaBAI over the past decad&. The Trust chairs the National Support Group of CaBA with a number of working groups developing policy proposals on topics such as flood management, urban water management and agriculture. The Commission is a very significant opportunty to Influen water policy that will have an impact over the next few decades. The outcomes are also likely to have influence on policy in other parts of the UK and Ireland. Chemicals The Trust has worked closely with other organisations to develop advocacy campaigns promoting restrictions on the use and disposal of chemicals, which are emerging as a major threat to the water environment. It has also investigated ways of treating waste water to remove chemicals. Page 6
The Rivers Trust Trustees. Report 3. DEVELOPING THE RIVERS TRUST'S OWN RESILIENCE. CAPACITY AND EFFICIENCY Fundralsing The Trust has successfully secured funding via numerous applications to a wide range of grant funders to support it5 work and its member Trusts 8nd appointed a Head of Philanthropy to lead this work from 2024. It has maintained and developed a nebNork of major donors who support the organisation's core costs with annual donations through its Fellows programme. The operations directorate has led the development of new business systems that provide detailed and timely information to management and Trustees about project delivery and risks. The Trust is putting in place a wider range of policies and procedures that will enable it to access framework contracts on behalf of its membership issued by organisations such as water companies, statutory agencies and the private sector. These policies and procedures also ensure that the Trust is compliant with legislation for companies and charities and protect staff, volunteers and members of the public. The Trust has further developed and implemented its equity, diversity and inclusion policy and has continued to diversify its board of Trustees and senior management team, Flnancial review Pollcy on ReseThes The Trustee5 have carefully examined the requirements of the charity to maintain an appropriate level of unrestricted reserves. In doing this, the Trustees have taken inta account the risks itemised in the charity's risk register, which is continuously reviewed and updated, and have given due consideralion as to how best to protect the organisation from the consequences of a sudden or unforeseen fall in income or adverse change in circumstances. The Board reviews the reserves policy on an annual basis to ensure its continued suitability to enable the charity to meet its objects and fulfil its strategy, whilst maintaining an appropriate minimum level of unrestricted reserve5, which specifically takes into account, in addition to the risk environment in general, net UnstrICted overheads, the possible need to provide funding for projects in cash deficit, pending scheduled payment from project sponsors, and any committed core costs of a capital or one-off nature. At the end of 2024 the Trust held total funds of £1.26m of which £999k comprised unrestricled free reserves, which met the Reserve5 Policy and were sufficient to carry out the objectives of the Trust. The Board continually reviews the adequacy of the Trust's reserves in the medium and longer term. Consolidated Income and Expenditure As detailed on page 18 of the financial statements, total income for the year £8.8m (2023.. £6.7m) and total expenditure was £8.6m (2023: £6.9m). Balance Sheet: The Trust ended the year with a cash balance of £4.9m (2023: £5.9ml', debtors of £1.3m (2023: £976k), of which most was attributable to trade debtors., and creditors of £4.9m {2023.' £5.9m), attributable mostly to deferred income and grants held for third Parties whilst awaiting claims. The Board confirms that, since the year-end, it is not aware of any events that would have a material detrimental impact on its position. Page 7
The Rivers Trust Trustees, Report Plans for future periods During 2025 the Trust will continue its work to identify and promote innovative solutions to the poor health of rivers throughout the UK and Ireland. After successfully increasing staff numbers in 2024, the Trust will seek to increase its capacity further during 2025 and invest more in securing partnership funding and delivery contracts, coupled with practical support for the Rivers Trust network, to grow the capacity of its member trusts so that they can increase the scale and impact of their activities in line with our charitable purpose. Significant funding bids will be submitted to government, its agencies and to charitable trusts and a range of offerings to the private sector wi11 be developed to enable The Rivers Trust and its member trusts to secure new, reliable sources of income. Core education activities and Rivers Trust sustainable development.. The Trust will maintain programmes to ensure it remains able to continue to meet and effectively deliver its charitable objects. It will maintain strong links with Defra and its agencies including the Environment Agency and is positively contributing to policy development through a range of initiatives. It will also continue to work closely with LAWPRO in Ireland and the Department of Agriculture, Environment and Rural Affairs in Northern Ireland. This includes building new delivery models based on cooperation between the thr88 sectors.. public, business and civil society. The Trust continues to seek potential benefits from developments in environmental legislation, its enforcement and the redistribution of public funds. In support of this, the Trust continues to work with the Wildlife and Countryside Link and Blueprint for Water groups and their equivalents in Ireland and Northem Ireland, which are the leading environmental policy charity groupings. These include lJ)dWF, The Wildlife Trusts, RSPB and The Nation81 Trust. It has secured further support from leading grant gNing trusts where successful applications are now 5UPPOrting a growth in capacity of member Rivers Trusts. The Rivers Trust will continue to expand its communications function with legacy funding from the Foundation for Water Research. Rivers Trust Funding.. The Rivers Trust will continue to recruit individual donors and corporate sponsors and it will make applications to grant giving trusts. It will seek to develop corporate and strategic partnerships and projects with major corporations and businesses where such ventures can deliver meaningful and sustainable positive impact to the water environment and the way it is managed. It will continue to seek project funding from a range of sources including EU, UK & Ireland government to maintain and increase The Rivers Trust's education and catchment improvement programmes through both its own activities and those of the local Rivers Trusts. Page 8
The Rivers Trust Trustees. Report National and European projects.. • Catchment Based Approach (CaBA) The Trust continues to play a major leading role in this Defra policy initiative, supporting 100-plus catchment partnerships across England, the majority hosted locally either by member Rivers Trusts or Wildlife Trusts. Funding will continue to be sought during 2025 to exp8nd capacity of the Catchment Based Approach National Support Group and the Catchment Partnerships themselves. Working collaboratively with partners in the Catchment Systems Thinking Co-operative project, The Rivers Trust will promote and seek multi sector support to further develop the concept of a national monitoring framework to bring together multiple sources of data into a single user-friendly platform, on which to base decision-making at a local and strategic scale. The Trust will also focus on delivery of the £8.9m Mainstreaming Nature Based Solutions programme of work with 20 partners over the next 5 years to transform the way that the water sector delivers its statutory responsibilities. Eu-funded Projects.. the Trust continues to deliver a number of EU funded projects and new applications will be submitted in 2025 to further the charity's objects and benefit from collaboration with organisations from a range of sectors (including academia) and at a transnational scale. The Trust continues to develop and deliver other major national and international projects and partnerships to scale up its impact in conjunction with local Rivers Trusts. Golng concern After making appropriate enquirles and due consideration, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Trustees continue to adopt the going concern 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 perfomiance) and sight of the future test of th8 Trust's reserves policy based on the assumptions made about future funding which has been secured and that about which, whilst not yet secured, reasonable assumptions may be made. Structure, governance and management Constitution The Trust is a registered charity and company limited by guarantee, governed by its Articles of Association, which were updated in 2011 to align with the Companies Act 2006. Subject to the Articles of Association, membership is open to any individual or organisation. The Trust has a wholly owned subsidiary, River Ecosystem Services Limited, which was incorporated in 2013. The distributable profit of the subsidiary is covenanted to the Trust. The Trust has bNO further wholly owned subsidiaries, Patchview DAC and Abhainn BEO, incorporated in Ireland in 2021 and 2023 respectively. Page 9
The Rivers Trust Trustees, Report Recruitfftent and appointment of Trusteès The governing body of the Trust is the Board of Trustees. The Board consists of a minimum of four Trustees who shall be nominated by the Rivers Trusts (the "Rivers Trustees") and up to eight Trustees elected by the Members (the 'Elected Trustee5") at an AGM pursuant ta Articles 21 and 24. All Trustees shall be appointed for a 5-year term and are eligible for re-appointment for one further and consecutive 5-year term. The recruitment of Trustees is by communication with Rivers Trust members and others. Subject to the Articles, selection is based on environmentsl or specific rivers trust interest, expertise in environmental or other relevant matters, general experience of charities and integrity, with the over-riding objective of maintaining a broadly representstive body, strong on governance and with the ability to add value. The Trust has adopted a skills matrix approach to assist in meeting this objective. Induction and tralnlng of Trustees An induction pack is provided when new Trustees are appointed, which covers the modus operandi of the Trust. Organlsational structurn Th8 Board recognis8$ that as an umbrella organisation representing the Rivers Trust movement there is an obligation on the Trust to embrace best governance practice. The Board meets formally on a quarterly basis, but there is frequent consultation with Trustees individually and as groups outside formal meetings. The Board has a Business, Audit and Risk Committee, principally to deal with monitoring performance and risk, approving projects and detailed financial matters. This Committee consists of at least three Trustees and it meets at least four times per year and reports to the subsequent Board meeting. The Board also has a Nominations and Remuneration Committee to oversee the recruitment of Trustees and senior staff and to consider the appropriate level of remuneration and pay awards for staff. The Trust maintains a virtual communications channel with the CEOS of m8mber trusts and the Board hosts an annual "Chairs, and CEOS, Meeting.. Together these provide a means of formal communication with its Rivers Trust members on Strategy, members, priorities and the Board's own performance. The annual meeting has proven successful and has been incorporated into the annual calendar to coincide with, and complement, the Annual General Meeting. There are numerous meetings with individual trusts, and groups of Trusts organised through informal 'hubs', in between these set piece meetings. Page 10
The Rivers Trust Trustees. Raport Relationshlps wlth related parties The Trust worfts closely with tts Rivers Twst members and other charities and organisations. However, all relationships are conducted on an amis, length basis. Rlsk management The policy of the Trustees is to manage risk by relevant and proportionate measur8s. The Trustees encourage the executive team to adopt innovative approaches in developing the Rivers Trust movement, to promote leadership and initiative and to make real and significant contribution5 to environmental improvements. The policy is conducted against a framework of good governance, prudenl financial control, sustainability and a culture of mutual trust. The Trustee5 promote continual risk assessment and management, both by the executlve team andlor any Trustee. In addition, the Trustees have adapted the framework suggested by the Charity Commission for a formal Annual Risk Management Review undertaken by the Business, Audit and Risk Committee and approved by the Board. Identified higher priority risks are highlighted for ease of reference within a comprehensive tsble of risk assessment. measures and accountability. The Trustees are mindful of the negative reputational publicity in respect of the charitable sector in recent years related to governance, opacity and commercial conflicts of interest. They are fully satisfied that the Trust acts with the utmost integrity in respect of fundraising and selection of suppliers and beneficiaries of grants and contracts. Moreover, governance is open and transparent and any potential commercial conflicts of interest of both Trustees and senior staff in The Rivers Trust are recorded on a register which is updated at every board meeting. The Trust maintains employer's liabiliiy and public liability insurance cover, cyber, professional indemnity and Trustees, indemnity insurance for additional protection. Insurdnce cover is considered to be the measure of last resort. Page11
The Rivers Trust Trustaes. Report Paypolicy The Trust operates a national pay policy guide and grading structure based on an independent review, benchmarked locally and against a study of organisations within the environmental sector. This policy is applied to all stsff of The Rivers Trust. including the key management personnel. Key management personnel At the end of 2024 the key management personnel of the Trust were.. A Aboob8kar, Strategy & Stewardship Director A Adam, Deputy Director Strategy & Stewardship B Bendall, Operations Director R Carey, Finance Director and Company Secretary Dr R Collins, Director Policy & Science A Gerring, Deputy Director for Strategic Development M Horton, All-lreland Director D Johnson, Technical Director M Lloyd, Chief Executive Officer M Walker, Technical Director T Wardley, Director of Communications and Advocacy ststement of Trustees, responsibilltles The Twstees (who are also the directors of The Rivers Trust for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied Ihat they give a true and fair view of the state of affairs of the parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the parent charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees a responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Page 12
The Rivers Trust Trustees. Report Disclosure of Informatlon to audltor Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit infomiation and to establish that the charity's auditor is aware of that infomation. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The annual report was approved by the Trustees of the charity on behalf by.. 3rd Jun• 2025 and Signed on Its G D M Thomas (Chair) Chainnan and Trustee Page 13
The Rivers Trust Independent Auditorfs Report to the Membars of The Rivers Trust Oplnion We have audited the financial statements of The Rivers Trust (the 'charity'l and its subsidiaries (the 'group') for the year ended 31 December 2024, which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Cash flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group's and charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance wtth the requirements of the Companies Act 2006. Basls for oplnion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going conrn basis of accounting in the preparation of the financial statements is appropriate. 8ased on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue 85 a going concern for a period of at least e1ve rnonths from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Other Information The Trustees are responsible for the other infomation. The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly ststed in our pOrt, we do not express any fonm of assurance conclusion thereon. Page 14
The Rivers Trust Independent Auditor's Report to the Members of The Rivers Trust In connedion with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the fi'nancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomation. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we a required to report that fact. We have nothing to report in this regard. Oplnlon on other matter prescrlbed by the Compan188 Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the and Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we ara required to report by exceptlon In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Acl 2006 requires us to report to you if, in our opinion., adequate accounting records have not been kept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Trustees, remuneration Specified by law are not made., or we have not received all the information and explanations we require for our audit. Respon$ibilitj98 of Trustees As explained more fully in the Statement of Trustees, responsibilities (set out on page 12), the Trustees, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees, are responsible for assessing the group and charitys ability to continue as a going concem, disclosing, as applicable, matters re5ated to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltor responsibilities for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditorfs report that include5 our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individu811y or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial ststements. Page 15
The Rivers Trust Independent Auditor's Report to the Members of The Rivers Trust The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management. We communicated identified laws and regulations throughout aur team, and remained alert to any indications of non-compliance throughout the audit. The group is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The group is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularilies, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to Ihe audit in order to design audit procedures that are appropriate in the circumstsnces, but not for the purpose of expressing an opinion on the effectiveness of the iniernal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. Conclude on the appropriatenes5 of the directors, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's ability to continue as a going concern. If conclude that a material uncertainty exists, we are required to draw attention in our audrtor'8 report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the group to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and signfficant audit findings, including any significant deficiencies in internal control. Page 16
The Rivers Trust Independent Auditor's Report to the Members of The Rivers Trust Use of our report This report is made solely to the charitable parent company's Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the group's Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable parent company and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed. Adam Croney (Senior Statutory Auditor) For and on behalf of Westcotts (SW) LLP, Statutory Auditor Plym House 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT Date.. 7..1.4.1.15...... Page 17
Tha Rivers Trust Consolidated Statement of Financial Actlvities for the Year Ended 31 December 2024 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted Restrlcted funds funds Total 2024 Total 2023 Note Income and Endowments Donations and legacies Charitable activities Other trading activities Investment income 728,933 311,111 1,397,236 122,924 728,933 6,597,424 1,397,236 122,924 501,879 5,513,024 688,690 15,870 6,286,313 Total income 2,560,204 6,286,313 8,846,517 6,719,463 Expenditure on: Costs of trading activities Expenditure on charitable activities Total expenditure Net incomel{expenditure) Transfers between funds {1,185,7361 1,286,871 (1,185,736) (619,385) 7,444,424 6,157,553) (6,236,269) (2,472,607) (6,157,553) (8,630,160) {6,855,654) 87,597 128,760 216,357 (136,1911 30,440 30,440 Net movement in funds 57,157 159,200 216,357 (136,191) Reconclllation of funds Total funds brought forward Total funds carried forward 941,753 106,192 265,392 1,047,945 1,184,136 1,047,945 23 998,910 1,264,302 All of the group's activities derive from continuing operations during the above bNO periods. The funds breakdown for 2023 is shown in nole 23. The notes on pages 22 to 58 fonn an integral part of these financial statements. Page18
Tha Rlvers Trust (Registration number: 05136671) Consolldated Balance Sheet as at 31 December 2024 2024 2023 Note Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 19 47,797 46,157 21 1,278,676 4,899,304 6,177,980 4.961,475 976,091 5,912,442 6,888,533 (5,886,745) Credltors: Amounts falling due within one year Net curront assets 22 1,216,505 1,001,788 1,047,945 Not assets 1,264,302 Funds of the group.. Re8trlcted Income fund8 Restricted funds 285,392 108,192 Unrestrlctsd income funds Unrestricted funds 998,910 1,264,302 941,753 Total funds 23 1,047,945 The financial statements on pages 18 to 58 were approved by the Trustees, and authoris&d for issue on 3rd Junè 2025 and signed on their behalf by- G D M Thomas (Chair) Chairman and Trustee The notes on pages 22 to 58 form an integral part of these financial statements. Page 19
The Rivers Trust (Registration number: 05136671) Company Balance Sheet as at 31 December 2024 2024 2023 Noto Flxed assots Tangible assets Investments 19 20 43,697 284 42,185 284 43,981 42,469 Currant assets Debtors Cash at bank and in hand 21 1,334,736 4,430,274 6,765,010 965,639 5,310,866 6,278,505 5,270,313 Credltors: Amounts falling due wlthln one year Net currant assots 22 4,544,768 1,220,242 1,006,192 1,048,661 Not a$s•ts 1,264,223 Funds of the ¢harlty: Restrlcted income fund8 Restricted funds 265,392 106,192 Unre8tricted Income funds Unrestricted funds 998,831 1,264,223 942,469 Total funds 23 1,048,661 As pemiitted by s408 Companies Act 2006, the company has not presented its own statement of financial activities and related notes.The company had a net movement In funds of £215,562 (2023: (£135,475)). The fi'nancial statements on pages 18 to 58 vRre approved by the Trustees, and authorised for issue on ?W.J.vnp.2Q25.. and signed on their behalf by: G D M Thomas (Chair) Chairman and Trustee The notes on pages 22 to 58 fomi an integral part of these financial statements. Page 20
The Rivers Trust Consolidated Statement of Cash Flows for the Year Ended 31 December 2024 2024 2023 Note Cash flow5 from operatlng activltles Net cash incomellexpenditure) Adjustments to cash flows from non-cash Items Depreciation Investment income 216,357 (136,191) 14 32,690 122,924 25,626 (15,870) (126,435) 126,123 Working capltal adjustment8 (Increase)Idecrease in debtors Decrease in creditors (Decrease)fincrease in deferred income Net cash flows from operating actlvities Cash flows from Investing actlvltles Interest receivable and similar income Purchase of tangible fixed assets 21 22 (302,585) (399,811) (625,459) (1,201 ,732) 537,218 {84,480) 1,918,700 2,245,003 122,924 (34,330 15,870 (28,230) 19 Net cash flows from investing activities 88,594 (12,360) Cash flows from financing activities Value of new loans obtained during the period Net (decrease)lincrease in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December 100,000 (1,013,138) 5,912,442 2,232,643 3,679,799 5,912,442 4,899,304 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 22 to 58 fomi an integral part of these financial statements. Page 21
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 1 Charity status The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales, and a registered charity in England, Wales and Republic of Ireland. The address of its registered office is.. Rain-charm House Kyl Cober Parc Stoke Climsland C811ington Cornwall PL17 8PH 2 Accounting pollcies Summary of slgnificant accountlng pollcles and key accounting estlmates The principal accounting policies appli8d in the preparation of these financial statement8 are set out below. These polici8s have been consistently applied to 811 the years presented, unless otherwise stated. ststement of compllance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Ststement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021) (issued in October 20191- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation The financial statements have been prepared on the historical cost basis, as modrfiad by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity. Bas18 of consolidatlon The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 December 2024. A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activrties. Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full. Intra-group losses are a150 eliminated but may indicate an impairment that requires recognition in the consolidated financial statements. Page 22
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Accounting policies of subsidiaries have been Changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group's equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholderfs share of Changes in equty since the date of the combination. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interest5 having a deficit balan. Golng concern The financial statements have been prepared on a going concern basis. The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Judgements and key sources of estimatlon uncertainty The Trustees are required to make a judgement whether the grants received contain perfomiance criteria in order to account for these transactions correctly under the performance model in line with the SORP. In the Trustees, opinion there are no other key judgements or sources of estimation uncertainty. Fund accountlng Unrestricted funds are available for use at the discretion of the Trustees to further any of the charity's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. In¢oming resources All incoming resources are included in the statement of financial activities when entitlement ha8 passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is CogniSed when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Page 23
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 Decem ber 2024 Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when.. The donor specifies that the grant or donation must only be used in future accounting periods; or The donor has imposed conditions which must be met before the charity has unconditional entitlement. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure include5 any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, nonwcharitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charrty apportioned lo charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable acliviti8s. All cosls are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Grantprovlslons Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either Ihe timing of the grant or the amount of grant payable. Tanglble flxed assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of fi'nancial activities. A decrease in the CArrying amount of an asset as a result of revalualion, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial adivities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset a5 follows.. Asset class Office and other equipment Depreciatlon method and rate 3 years straight line Page 24
The Rivers Trust Notes to the Financial Statements for the Year Endad 31 December 2024 Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Fixed asset Investments Fixed asset investments, other than programme related investment5, are included at market value at the balance sheet date. Realised gains and losses on investment5 are calculated as the difference between sales proceeds and their market value at the stsrt of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement In market values during the year and are crediled or charged to the Statement of Financial Activities based on the market value at the year end. Flnancial instrurn8nts Cla551fication A finencial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Investments Investments in subsidiaries and associales are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. 3 Legal status of the Trust The charitable company is limited by guarantee and has no share ¢apltal. In the event of winding up the liability of each mernber is limited to £1. Page 25
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 4 Income from donations and legacies Unrestrlcted funds General Total 2024 Donations and legacies., Donations from organisations Donations from individuals Legacies Fellowships and associated donations Gift aid 233,604 241,399 1,108 213,000 39,822 233,604 241,399 1,108 213,000 39,822 728,933 728,933 Unrestricted funds Genaral Total 2023 Donations and legacies., Donations from organisations Donations from individuals Fellowships and associated donations Gift aid 133,724 151,708 194,000 22,447 501,879 133,724 151,708 194,000 22,447 501,879 5 Income from charitablo actlvltles Unrestrlcted fund5 R88trict•d funds Total 2024 National and European projects Education and Rivers Trust development 265,909 45,202 6,286,313 6,552,222 45,202 311,111 6,286,313 6,597,424 Unrestricted funds Restricted funds Total 2023 National and European projects Education and Rivers Trust development 310,804 38,570 5,163,650 5,474,454 38,570 5,513,024 349,374 5,163,650 Page 26
The Rivers Trust Notes to tho Financial Statements for the Year Ended 31 December 2024 6 Trading activitiOS Summary of trading results of River Ecosystem Servlces Llmited: 2024 2023 Turnover Cost of sales Gross profit Administrative expenses Other operating income Profit for the financial year Gift Aid donation to The Rivers Trust Movement in retained earnings 1,233,679 (943,497) 290,182 (79,5181 678,265 (580,579) 97,686 (27,665) 210,664 210,664 70,021 (70,021) As8ets and Ilabllltle8 2024 2023 Assets Liabilities Capital Reserves 682,968 (682,768) <200) 650,727 (650,527) (200) Summary of tradlng results of Patchvlew Designated Actlvlty Company: 2024 2023 Turnover Cost of sales Gross profit Administrative expenses Other operating income Profit l (Loss) for the financial year Gift Aid donation to The Rivers Trust Movement in ret8ined earnings 143,818 (108,752) 35,066 (33,513) 10,425 (6,525) 3,900 14,613) 1,553 (713) 713 Page 27
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Assets and Ilabllltles 2024 2023 Assets Liabilities Capital Reserves 88,786 (87,863) 183) {840) 177,171 (177,801) (83> 713 Summary of tradlng results of Abhalnn BEO Company: 2024 Tumover Cost of sales Gross profit Administrative expenses Other operating income Profit l (Lossl for the financial year Gift Aid donation to The Rivers Trust Movement in retsined earnings 19.739 (16,814) 2,925 (3,642) (717) 717 Assets and Ilabllities 2024 Assets Liabilities Capital Reserves 27,302 (28,019> 717 Income from other trading activities of £1,397,236 is made up of River Ecosystem SeNices Limited income of £1,233,679, Patchview Designated Activity Company of £143,818 and Abhainn BEO Company of £19,739 as above. Expenditure on costs of trading activities of £1,185,736 is made up of River Ecosystem servIs Limited expenditure of £1,023,015, Patchview Designated Activity Company of £142,265 and Abhainn BEO Company of £20,456. 7 Investment income Unrestrlcted funds Total 2024 Bank interest 122,924 122,924 Page 28
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Unrestricted funds Total 2023 Bank interesl 15,870 15,870 8 Expenditure on charltable actlvities Unrestricted funds General Rgstrlcted funds Total 2024 Nota National and European projects Education and Rivers Trust development Governance costs 370,786 6,157,553 8,528,339 11 12 790,340 125,745 790,340 125,745 1,286,871 8,157,553 7,444,424 Unrestrlcted funds General Restrlcted funds Total 2023 Note National and European project8 Education and Rivers Trust development Governance costs 286,571 5,273,986 5,560,537 11 12 599,615 76,117 962,303 599,615 76,117 6,238,269 5,273,966 Actlvlty undertaken directly Grant funding of activity Activlty 8UPPOrt costs 2024 National and European projects Education and Rivers Trust development Governance costs 4,233,641 2,294,698 6,528,339 37,011 753,329 125,745 790,340 125,745 7,444,424 4,270,652 2,294,698 879,074 Page 29
The Rivers Trust Notes to the Financial Statements for the Yaar Ended 31 December 2024 Actlvlty undertaken directly Grant funding of activity Actlvlty support costs 2023 National and European projects Education and Rivers Trust development Governance costs 3,517,434 2,043,103 5,560,537 10,905 588,710 76,117 599,615 76,117 6,236,269 3,528,339 2,043,103 664,827 9 National and European ProJects 2024 2023 Note Actlvltles undartak8n Project costs Other costs Consultsncy Wages and salaries 408,264 486,013 1,025,142 2,314,222 4,233,641 2,294,698 463,888 353,596 732,032 1,967,918 3,517,434 2,043,103 Grant funding of activities Total 10 6,528,339 5,560,537 10 Grants pald 2024 2023 Grants to Institutions Action for River Kennet Ballinderry Rivers Trust Boyne Rivers Trust BRGM- Service Geologique Bristol Avon Rivers TriJ8t Broads Authority East Yorkshire Rivers Trust Eden Rivers Trust Environment Agency Great Ouse Rivers Trust Hepple Estate Kent Wildlife Trust Lough Carra Catchment Association Lune Rivers Trust Maigue Rivers Trust CLG 17,353 584,563 596,145 17,169 37,054 5,467 7,495 24,667 30,907 17,458 50,577 22,530 6,250 16,000 21,461 11,000 17,255 11,889 Page 30
The Rivars Trust Notes to the Financial Statements for the Year Ended 31 December 2024 2024 2023 Mersey Rivers Trust Norfolk Rivers Trust Northumberland Rivers Trust Oriel River Catchment & Coastsl Association Ribble Rivers Trust River Blackwater Catchment Trust River Lark Catchment Partnership River Waveney Trust SCP Farmer Grant Sevem Rivers Trust Slaney River Trust South Cumbria Rivers Trust South East Rivers Trust Strule Tributaries & Rivers Trust Th8mes Rivers Trust Thames 21 The National Trust The Woodland Trust United Utilities Water Ltd Warwickshire Wildlife Trust Water Resources East West Cumbria Rivers Trust Westcountry Riv8rs Trust Wye and Usk Foundation Wyre Rivers Trust Other 29,174 35,634 25,000 16,579 19,500 24,667 2,500 11,341 722,877 35,689 20,327 18,592 20,957 64,939 16.806 14,000 243,420 19,841 386,000 24,667 24,667 111,505 34,988 63,944 112,500 14,783 98,334 113,421 74,694 63,137 41,560 57,774 24,232 39,459 94,621 39,729 11,609 69,094 2,043,103 2,294,698 11 Educatlon and Rivers Trust development 2024 2023 Activities undertaken Seminar costs Other costs 5,712 31,299 37,011 10,066 839 10,905 Page 31
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 Decem ber 2024 2024 2023 Support costs Office costs Travel Consultancy Exchange rate loss Wages and salaries Depreciation 162,599 29,040 128,209 27,355 5,697 33,140 368,826 25.483 588,710 64,229 466,647 30,814 753,329 12 Analys18 of support C08ts Charltable activitie• expendlture Unrestrfctsd funds General Total 2024 Total 2023 Consultancy Wages and salaries Auditors remuneration 14,764 96,606 14,375 125,745 14,764 96,606 14,375 125,745 9,371 59,789 6,957 76,117 The Trust initially identifies ihe total cost of its support functions and then apportions the element associated with the governance of the charity to govemance costs. The remainder of these support costs a incurred in developing The Rivers Trusts and Education. The Trust is able to absorb an element of its overhead costs into eligible grant funded activities. Prior to the absorption total govemance and support costs were £1,365,923 (2023.. £1.080,888). 13 Government grants The charity receives European and UK govemment grants primarily to fund revenue project costs. Most grants received contain performance criteria which must be completed by the charity before they become fully entitled to the associated income. The amount of government grants recognised in the financial statements was £4,838,285 (2023 £3,211,448). 14 Net Incomingloutgolng resources Net outgoing resources for the year include.. 2024 2023 Depreciation 32,690 25,626 Page 32
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 15 Trusts88' remuneration and expenses During the year the group made the following transactions with Trustees.. £968 (2023: £2,476) of expenses were reimbursed during the year. No Trustees, nor any persons connected with them, have received any remuneration from the group during the year. 16 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs durlng the year were: Wages and salaries Social security costs Pension costs 3,837,598 316,033 256,075 4,409,706 2,564,796 237,473 204,156 3,006,425 The monthly average number of persons {including senior management I leadership team) 8mployed by the group during the year expressed as full time equivalents was as follows.. 2024 No 75 2023 No 57 Total employees The number of employees whose emoluments fell within the following bands was.. 2024 2023 No £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 £90.001- £10D,000 £100,001- £110,000 £120,001- £130,000 £140,001- £150,000 The totsl employee benefits of key management personnel was £872,197 (2023 - £808,885). The highest paid member of staff, received benefits totalling £140,99512023 - £127,071). Page 33
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 17 Auditor's remuneration 2024 2023 Audit of the financial statements All other non-audit service5 9,650 4,725 14,375 6,000 4,000 10,000 18 Taxation The group is a registered charity and is therefore exempt from taxation. 19 Tanglble flxed assets Group Offlce and other equlpment Total C08t At 1 January 2024 Additions 125,180 34,330 125,180 34,330 At 31 December 2024 159,510 159,510 Depreclatlon At 1 January 2024 Charge for the year At 31 December 2024 79,023 32,690 79,023 32,690 111,713 111,713 Net book value At 31 December 2024 47,797 47,797 At 31 December 2023 46,157 46,157 Page 34
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Charity Office and other equipment Totsl Cost At 1 January 2024 Additions 114,801 32,326 114,801 32,326 At 31 December 2024 147,127 147,127 Depreclatlon At 1 January 2024 Charge for the year At 31 December 2024 72,616 30,814 72,616 30,814 103,430 103,430 Net book value At 31 December 2024 43,697 43,697 At 31 December 2023 42,185 42,185 20 Fixed asset Investments Charfty Shares In group undertakings and partlclpating interests Subsldlary undertaklngs Totsl Cost At 1 January 2024 At 31 December 2024 284 284 Net book value At 31 December 2024 284 284 At 31 December 2023 284 284 Details of undertakings Details of the investments in which the charity holds 200A or more of the nominal value of any class of share capital are as follows.. Page 35
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Country of Incorporation Proportion of votlng rights and shares held 2024 2023 Principal activity Undertaking Holdlng Subsldiary undertakings River Ecosystem Services Limited England and Wales Ordinary shares Environmental consulting activities 1000/0 1000 Patchview Designated Activity Company Abhainn BEO Company Ordinary shares Environmental activities Republic of Ireland 100% 1000 Republic or Ireland Guarantee 1000 100% Environmental activities Activities of these companies are summarised in the Trading activities note. 21 Debtors Group 2024 Charlty 2024 2023 2023 Trade debtors Due from group undertakings Prepayments Accrued income Other debtors 714,591 646,769 489,476 365,041 98,399 281,820 100,000 1,334,736 493,955 211,898 98,036 161,750 108,318 355,767 100,000 108,882 220,840 1,278,676 976,091 985,639 22 Creditors: amounts falllng due wlthin one year Group 2024 Charity 2024 2023 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income Other loans 312,268 393,303 279,252 372,472 342,285 7,232 4.199,690 100,000 195,370 450,622 4,847,450 284,664 172,491 450,622 4,274,728 3,880,852 100,000 4,544,768 4,961,475 5,886,745 5,270,313 Page 36
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Deferred Incomo 2024 2023 Group Deferred income at 1 January 2024 Resources deferred in the period Amounts released from previous periods Deferred income at year 8nd 4,419,634 3,551,621 4,419,634 3,551,621 2,500,934 4,419,634 (2,500,934 4,419.634 2024 2023 Charity Deferred income at 1 January 2024 Resources deferred in the period Amounts released from previous periods Deferred income at year end 3,982,316 3,495,901 3,982,316) 3,495,901 2,347,061 3,982,316 2,347,061 3,982,316 Income has been deferred on the basis that the relevant performance criteria have not been met. Page 37
The Rivers Trust Notes to the Financial Statements for the Year End8d 31 December 2024 23 Funds Group Balance at 31 December 2024 Balance at 1 January 2024 Incoming Resources resources expended Transfors Unrestricted funds General Core 941.753 2,559,513 (2,471,916) (30,440) 998,910 Restried funds 3C's ABP Enforcement Undertaking Al River Habitat Qualiity Tool Amazon Water Replenishment Ballinderry & Lough Neagh Storymap Barrier Prioritisation Bentley Investing in the Waver Gowy Better Rivers North West Farm Cluster Blagdon River Restoration Business Engagement Officer Funding CaBa CaBA FCRM Capacity Building Capacity Building.. NFM Management CaPS Support Carbon Connect Coastal Health Taw Study Catchment Monitoring Co-operative CCEP Norfolk RT Initiative Chalk Stream WG Storymap 35,745 (35,7451 6,502 <6,647) 145 11,778 (11,778) 19,125 (19,125) 1,074 (841) (117) {233) 117 193,004 {193,0041 100,000 37.479 (100,0001 (37,479) 19,380 313,403 (19,380) (310,153) 21,931 25.181 10,623 (10,623) 31,660 648 (41,909) {648) {7,443) {2,849) 10,249 878 6,561 499 2.350 950,386 (923,0441 27,342 1,121 11,121) 627 (7841 157 Page 38
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Balance at 31 December 2024 Balance at 1 January 2024 Incoming Resources resources expended Transfers Collaborative Fisheries Monitoring Programme Coke Replenish Phase 3 Development Connect {BRIDGEI Courtauld 2030 EA Underspend for Market Creation East Anglian Collective Action Hub Eels EIRE (Ireland) Start-up EFS NI EFSNI GFP21-26 Esmee Fairt)aim Chalk Stream Restoration Esmee Fairbaim Loan Scheme Esmee Fairbaim Wyre NFM EF WEG Support Facility EFF Glenderamackin Bridge ESRI ELA (ESRI) GIS & Data Support & COP for the RT Movement 2024-25 ESRI Enterprise Agreement (Internall Farm Advi Database Fishmongers Water Quality Advocacy Forest for the Nation Foundation for Water Research - CIWEM Garfield Weston Grant Glenderamackin NEIRF GovAqua Greggs CURRF Guilsfield Replenish Hepple Wetlands WEIF 36,912 (36,912) 71,303 5,630 10,164 (71,303) (5,630) (10,164) 856 (857) 12,791 (12,791) (6,447) (15,334) (48,478) (367,011) 4,500 1,947 15,334 72,187 474,665 32.708 302 56,417 107,956 51,691 {51,691) 680 (680) 492 (492) 1,807 1,807 14,492 19,368 {20,753) (19,368) 6,261 4,131 (4,131) 3,444 8,472 (3,444) (8,472) 6,890 5,313 (6,890) (5,313) 106,948 62,127 (178) 69,985 4,495 19,457 7,481 (106,9481 (62,1271 (1,442) (64,802) (4,495) (19,4571 (7,481) 1,620 5.183 Page 39
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Balance at 31 D8c8mber 2024 Balance at 1 January 2024 Incoming Resources resources expended Transfers Hogan Lovells Charity Partnership Humber In-NO-Plastic icatch Hub Network Ireland Water Stewardship (AWS) John Ellemian Foundation Grant Leeds NFM IRF Lidl Wetlands LifelP EU CleanEst Life IP Natural Course Lyne River Restoration WEIF L4WPRO Catchment Support Fund 2024 M&S Water Stewardship Mainstreaming NBS Concept Morecambe Bay Volunteer Hub Natural Course Legacy Website NE Blue Space.. 15 minute Neighbourhoods Natural England Blue Spaces Mapping Nature North Advocacy NEIRF - Calder & Colne RT NEIRF- Eden Catchment NEIRF- Irwell GMCA (Greater Manchester) NEIRF - London River Bank NEIRF - SERT NEIRF- Tyne NEIRF- Upper Wharfedale NEIRF - Westcountry Rivers Trust River Bank 4,130 106 137,380 (4,165) (4,130) (106) (811) 4,622 (135,893) (457) 676 37,392 (37,392) 5,875 107,597 46,135 8,609 59,677 (5,875) (107,597) (46,135) (8,609) (70,503) 36.148 25,322 1,154 (1,154) 43,873 10.656 {43,873) (10,656) 377,030 (370,440) 6,590 1,175 (646) (529) 157 (157) 20,319 (20,319) 14,574 30,732 (14,574) (32,525) 1,793 240 23.782 (240) (26,903) 3,121 291 (291 } 1,920 5.614 7,436 (1,920) (5,614) (7,436) 139 (139) 354 (354) Page 40
The Rivers Trust Notss to the Financial Statements for the Yaar Ended 31 December 2024 Balanc8 at 31 December 2024 Balance at 1 January 2024 Incoming Resources resources expended Transfers NEIRF- Wye Tributory (DIME 2) Northumb8rland River Restoration WEIF NRN Data Model & Collaborative Delivery Platform NRN Data Platform Phase 563 (563) 2,020 (2,020) 10,774 (10,7741 12,769 146,182 81,439 (12,7691 (146,1821 (81,4391 NeOrk Support Servic8 People's Postcode Lottery Pilgrims Water Stewardship Pont & Blyth River Restoration WEIF Preventing Plastic Pollution Resilient Glenderamackin LR Ribble Secloral Transfomiation Project River Bathing Water Development River Deep Mountain Al Salmon School Engagement Shellfisheries Risk Mapping Simply Washrooms Campaign Source to Tap strategic Development Fund Sustainable Catchment Project 2022 - TRT Swire - Small Trust Development Fund Sustainable Waters Educational Materials & Outreach Tame RT NFM Modelling Tees RT GIS Training 31,551 (31,5511 1,222 (1 ,2221 (118) 118 45,709 (45,7091 8,806 (8,806) 16.841 2,122 (16,841) (2,122) 3,387 (3,387) 17,497 (17,497) 6,400 (1,505) 4,895 (1) (1) 3,950 3,950 1,319,023 (1,319,023) 250,000 (250,448) 448 16,174 1,936 145 (16,174) (1,938) 1145) Page 41
The Rlvers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Balance at 31 December 2024 Balance at 1 January 2024 Incomlng Resources resources expended Transfers Thame Farm5coper Modelling Support Thames Catchment Thames Technical Support Project Topsoil Trees for Water (MSA) Water for Tomorrow Water Net Gain Water Resource5 Priority Catchments 2023-2024 Woodlands for Water Woodlands for Water Nl Imvr Wetland Data Explorer YDRT Meta Data Hub Yorkshire Water Ca8A Partnerships Yorkshire Water Dam Removal Training Other 5,687 (5,687) (1) (1) 1,148 (1,148) (2) (2) 15,109 {494) 4,523 (15,109) 494 (4,523) 39,655 443,040 33,219 {39,655) {443,1231 {33,219) 85 4,646 1,544 (4,646) (1.532) {12) 1,474 (1,387) (87) 99 {99) 75 75 Total rnstrlcted funds 106,192 6,286,313 6,157,553 30,440 265,392 Total funds 1,047,945 8,845,826 8,829,469 1,264,302 Page 42
The Rivers Trust Notes to the Financial Statements for tho Year Ended 31 December 2024 Balanc8 at 31 December 2023 Balance at 1 January 2023 Incoming Resources resources expended Transfers Unrestricted funds General Core 1,005,986 1,555,813 {1,581,688) (38,358) 941,753 Restricted funds 3C's AA-FLOODS ABP Enforcement Undertaking Amazon Water Replenishment Barrier Prioritisation Bentley Investing in the Waver Gowy Better Rivers North West Fami Cluster Blagdon River Restoration BRILLlaNCE CaBa CaBA FCRM Capacity Building CamEO Catchment Systems Operator Pilot Cap8Clty Building.. NFM Management CaPS Support Carbon Connect Catchment Monitoring Co-operative CCEP Norfolk RT Initiative Chalk Stream WG Storymap CIRIA NFM Design Handbook Collaborative Fisheries Monitoring Programme Coke Replenish 2 Coke Replenish Phase 3 Development Courtauld 2025 Grants 17,976 25,829 (17,976) (46,323) 8.243 12,251 9,060 (9,060) 23,546 908 (23,546) (3,653) 2,745 2,250 (2,250) 100,000 2,521 (100,000) (2.521) 869 22,116 1869) 1185) 310,153 (310,153) 21,931 13,541 (13,541) 1,334 (1 ,334) 2,506 1,548 14,745 <2,5061 (1 ,5481 (21 ,2831 7,416 878 598,757 (598,7571 50,879 (50,8791 2,588 (2,5881 154 (154) 20,584 494,256 (20,5841 (494,256) 38,960 7,139 (38,9601 (7,1391 Page 43
The Rivers Trust Notes to the Financial Ststements for the Year Ended 31 December 2024 Balance at 31 December 2023 Balance at 1 January 2023 Incoming Resources resources expended Transfers Courtauld 2030 DEFRA RIF- Phase 3 EA Your Fisheries Phase 34,443 (34,443) 5,726 (5,726) (10) 10 EA Underspend for Marf(et Creation East Anglian Collectlve Action Hub Eels EF Regional Development Grant EIRE (Ireland) Start-up EFS NI EFSNI GFP21-26 Esmee Fairbairn Wyre NFM EF WEG Support Facility ESRI EL4 Evenlode Storymap Fami Advice Database Fishmongers, Fishenes Fishmongars Water Quality Advocacy Foundation for Water Research - CIWEM Garfield Weston Grant Glenderamackin NEIRF Great British Spring Clean GovAqua Greggs CURRF Humber In-NO-Plastic icatch Hub Network Ireland Water Stewardship (AWS) John Ellerman Foundation Grant Leeds NFM IRF LifelP EU CleanEst Life IP Natural Course Link Chemicals Campaign 22,180 (22,180) 873 (873) 4,500 4,500 74,402 44,447 49,773 225,886 (74.402) (44,447) (49,761) (225,886) 32,696 302 32,708 302 1,745 6,243 24,017 390 22,244 3,326 {1,745) {6,243) (24,017) 1,807 1,807 (390) (22,244) (1,026) (2,300) 5.319 (5,319) 57,390 124,851 21,936 152 10,480 1,722 1.985 117,250 14,178 (57,390) (124,851) 121,936) (1) (152) {10,480) (1,722) (1,985) (116,665) (9,556) (1,396) {811) 4,622 524 (524) 45,403 116,244 12,700 161,806 13.602 (45,403) (116,244) {12,700) (182.786) (16,805) 57,128 36,148 3,203 Page 44
The Rivers Trust Notes to tha Financial Statements for the Year Ended 31 December 2024 Balance at 31 December 2023 Balance at 1 January 2023 Incoming Resources resources expended Transfer5 M&S Water Stewardship Mainstreaming NBS Concept Morecambe Bay Volunteer Hub Natural Capital {Ang1ial Natural England Blue Spaces Mapping Nature North Advocacy NEIRF - BART NEIRF - Eden Catchment NEIRF- DIME NEIRF - London Rlver Bank NEIRF - SERT NEIRF- Tyne NEIRF Replenishing Nature NERC Q-NFM Northem Ireland NRCP Iconic Partnerships NRTICoke Restoring Nature Oxford Bathing Waters PinPoint Patagonia Tides Preventing Plastic Pollution River Bathing Water Development River Buffers Campaign Shellfisheries Risk Mapping Source to Tap strategic Development Fund Sustainable Catchment Project 2022 - TRT Tees RT GIS Training Thames Catchment 14,798 (14,798) 25,693 (25,693) 2,203 21,583 (2,203) (21,583) 25,684 11,147 2,885 69,322 76 (25,684) (15,434) (2,885) (69,322) <76) 4,287 8,654 6,862 11,239 (9,856) (6,862) (11,239) 1,202 60,254 8,534 (85,838) (9,177) 25,584 643 (49) 49 50,788 <50,788) 7,130 (7,130) 78 11) 712 (78) (712) 86.481 (95,403) 8,922 37,362 5,589 (37,362) {5,589) 2,075 1,308 {2,075) 146 (1) (1 ,454) (1) 3,950 39,773 (45,492) 5,719 3,950 827,983 1,301 203 (827,983) (1,301) 20 (224) (1) Page 45
The Rivers Trust Notss to the Financial Statements for the Year Ended 31 December 2024 Balance at 31 December 2023 Balance at 1 January 2023 Incoming Resources resources expended Transfers Thames Technical Support Project The Outfall Safari Topsoil Treasure Your River Trees for Water (MSA) Turing Intemshlp Water for Tomorrow Water Net Gain Water Resources Priority Catchments Water Resources Priority Catchments 2023-2024 WaterCoG West Wales RT Storymap Woodlands for Water Woodlands for Water Nl WWFICoke Phase 3 Wetland Data Explorer YDRT Meta Data Hub Yorkshire Water Dam Removal Training Other 10,426 1,133 (10,4261 (9831 1,116 17,630 (1,266) (17,632) 5,251 (2) 3,824 26,926 10,535 343,213 742 (9,075) (26,926) {9,660) (358,842) (742) {875) 1,205 14,424 1,163 (1,163) 53,340 (53,340) (1) (16) <410,148) (8,879) (3,389) 16 85 410,148 8,879 3,389 85 354 4,456 (354) (4,4561 1,450 {1,450) 692 617 75 Totsl restrfcted funds 178,150 5,163,650 5,273,966 38,358 106,192 Total funds 1,184,136 6,719,463 (6,855,654 1,047,945 Page 46
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 The above projects can be summarised as follows.. 3C's.' A collaborative project working with a range of partners, designed to explore a collaborative approach to coastal management, with a specific focus on the Sevem and Thames tidal reaches and a national framework. AA-Floods.' An EU Interreg funded project to reduce human and material damages due to flooding by improving the tools of Prevention, Alert and Crisis Management at the Local Scale. ABP Enforcement Undertaking.. Developing a service for local rivers trusts to 8nable them to have the capacity and capability to manage enforcement undertakings. Al River Habitat QualityTool.. This project will look 8t developing a deep learning model (Convolutional Neur81 Net} that is able to predict river habrtat quality from satellite data. This tool would allow river habitat scores to be derived from readily accessible remote sensing data every two weeks (using Sentinel-21 across the entirety of the UK. This would allow frequent monitoring to be undertaken, and would be a dramatic improvement in the data available for managers. Amazon Water Replenishment.. Funding from Amazon Data Services Inc., for two new wetlands, the first at Wilton Wetlands in West Berkshire and secondly, creation of wetlands on the River Kennet at Fyfield, Wiltshire. Barrier Prioritisation.. working in partnership with the Environment Agency to produce fragmentation statistics for every river in England. These statistics will be used by the EA to drive their barrier prioritisation work but will also be used by CaBA, rivers trusts and water companies to set Iheir own priorities for barrier removal by combining the fragmentation statistics with local knowledge, data and available funding. Bentley Investing in the Wavy Gowy.. This new project with the Bentley Environmental Foundation Charitable Trust will look to safeguard and improve the Valley Brook in the Weaver Gowy catchment through a large scale wetland construction and river restoration activities, and building the capacity, capabilities and environmental skills required to deliver long-term environmentel improvements. Better Rivers North West Farm Clusters.. Funding from United Utilities for farm grants to drive approaches to ensure that productive agriculture and healthy rivers co-exist sustainably, side by side. Blagdon River Réstoration.. This project is a continuation of work carried out last year (by EA) to develop the Pont and Blyth River Restoration and Nature Recovery Plan. The B1h at Blagdon project will work in partnership with EA and The Rivers Trust to engage a contractor to develop detailed designs for riv8r and habitat restoration at sites within the Blyth from Pont to Tidal Limit waterbody. The aim of the project is to reinstate or reproduce natural river process as much as site constraints permit, to provide a long-term and more sustainable solution for the two degraded reaches of the river Blyih. Business Engagement Officer Funding.. Funding for a Business engagement officer for 1 year to focus on working with business to attract private finance into the Resilient Glenderamackin project. CaBA FCRM Capacity Building.. to continue to build capacity within CaBA to contribute to the delivery of the Flood Risk Management Plans (2020-2026). CamEO Catchment Systems Operator Pilot.. CamEO catchment trials including natural capital metrics development, funded by Anglian Water. Page 47
The Rivers Trust Notes to the Financial Ststements for the Year Ended 31 December 2024 Catchment Partnership Support (CaPS).' Funding from Thames Water for training to assist with developing the capacity of the 27 catchment partnerships in the Thames Water operational area. Carbon Connects.. An EU Interreg project to reduce the high footprint of degraded peatlands in NW Europe by introducing innovative business models based on sustainable land management practices. Castco: Catchment Monitoring Co-operative. Ofrwat Water Breakthrough Challenge funding to kick-start a transformational change in the gathering and sharing of vilal local evidence to enable better management of the water environmenl. Establishing the first national framework for citizen science and local community evidence gathering alongside technologically advanced monrtoring solutions, to fill the significant evidence gaps that have prevented government, business and communities working together to improve our rivers. Catchment Based Approach ICaBA).' Funds received from Defra under the catchment based 8pproach initiative to provide national technical support to all NGO catchment partnerships in England and Wales and to support additional specific aspects identifiod and determined by the CaBA National Steering (Support) Group. CCEP Norfolk Rivers Trust Initiative.. The focus of the funding from Cola-cola Europacrfic Partners will be used to build the work of the Norfolk Rivers Trust with their Water Sensitive farming initiative and supporting farmers, particularly sugar beet growers, to establish best practice approaches to land management in order to reduce the impact of agriculture on key water sources in the catchment. Chalk Stream Working Group Story Map.. Develop a 'Hub' for the Chalk stream working group on the CaBA data platform to provide a one stop shop for CaBA and NRN partnerships to access data, guidance and resources relevant to work on chalk streams. This is a partnership project between the Environment Agency and the CaBA technical team. CleanEST.' EU Life I ntegrated Project working with multiple partners on development of an integrated water management and its modern tools in Estonia. Coke Replenish.. a large catchment-based program fully-funded by Coca Cola Foundation including creation of new wetlands and delivering improvements to water quality and water stewardship. Collaborative Fisheries Monitoring Programme: A pilot collaborative agreement with the Environment Agency to enhance migratory salmonid monrtoring data collection and sharing. Coastal Health Taw Study.. Analysis of chemical pollution in the Taw catchment. Part of a wider project looking at health of Ihe freshwater and estuarine ecosystem. Connect (BRIOGE).. Contribution by Wessex Water to an at Innovation Fund application. Courtauld 2025 & 2030 Grants.. At its core, tha Courtauld 2025 Water Ambition and Courtauld 2030 Water Roadmap includes a programme of collective action project5 that aim to improve the quality and availability of water in key sourcing areas for the UK's food & drink sector and to address the challenges we collectively face in protecting critical water resources for food supply, for nature and for local communities. EA Underspend for Market Creation.. A project with the Environment Agency on capacity building in applying the 'Wyre Investment Readiness Fund, approach on a number of market led initiatives, including the Eden Future trades and Glenderamackin within the North West. Page 48
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 East Anglian Collective Action Hub.. Utilising funding from Anglian Water to establish the East of England Planning Hub. The hub will bring together national, regional and local expertise, and stakeholders in the region. Its primary aim is to support development of Anglian Water's WINEP. Eels.. funding to support continued development work related to Eel populations. EFF Glenderamackin Bridge.. Bridge funding from the Esmée Fairbairn Foundation to fund the continuation of the Glenderamackin NEIRF through a Landscape Recovery application. Esmée Fairbairn Chalk Stream Restoration: Support from the Esmée Fairbairn Foundation for the costs of employing a Programme Manager for the implementation of the Chalk Stream Restoration Strategy Implementation Plan. Esmée Fairbairn Loan Scheme.. £2m Loan Facility for the Esmée Fairbairn Foundation to provide low-interest loans to the RT movement to support with cash flow for funds paid in arrears. Esmée Fairbairn Regional Development Grant.. to build cap8¢ity, consistency and collaboration within the rivers trust movement. Esmée Fairbairn Wyre NFM.. investigating the extent to which natural flood management in the Wyre Valley can be funded by private investment. Esrnée Fairbaim WEG Support Facility.. facilitating loans to member trusts in the buslness of delivering work that will improve the condition of rivers or that will improve the status of protected wetlands in the UK in accordance with agreements with WEG. (ESRI) GIS & Data Support & COP for the RT Movement 2024-25.. The Esri Enterprise Agreement is an annual software programme which provides RT and member trusts (as affiliates) with access to Esri Hub premium, ArcGIS Online, ArcGIS Desktop and numerous extensions, plus online data storage and analysis capacity. ESRI Enterprise Agreement (Internal).. Esri Hub Premium is an essential component of the NFM I NBS Hub, Ag Hub, Tree Hub, CaBA Data Hub, Irish dala hub, Coastal Hub, Plastics Hub, Regional Hubs (Anglian and NE), Natural CourselCa8tCo citizen science & monitoring Hub and others. ArcGIS Desktop is a necessary component for every RT project which requires spatial analysis, mapping or data processing capability. EFS NI & EFSNI GFP21-26'. The Environmental Farming Scheme (EFS) is a voluntary scheme, launched by DAERA in February 2017, and designed to support farmers in implementing environmentally beneficial farming practices on agricultural land. Central aims of the scheme include improved water quality and water management, the reduction of soil erosion and better on-farm soil management. The Rivers Trust is going to be directly involved in running the scheme in the area of Upper Bann River (County ArmaghlDown) and Ballindery River {County TyronelLondonderry-Derry). This scheme has now been extended with further funding to cover the Dundrum River {County Down), Ballinderry River & western-shore of Lough Neagh (County TyronelLondonderry-Derry) and Lagan River (County DownlAntrim). ESRI Enterprise License Agreement (ELA).. Training and education within the rivers trust movement to develop the use of ArcGIS resources and standards. Evenlode Story Map.. Partnership with Wild Oxfordshire. Page 49
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Fami Advice Database (or Agricultural Hub): Developing a CaBA Agriculture Hub with funding from WWF-UK, Tesco, Waitrose and other businesses and organisations with the intention to support cross sector collaboration at a catchment scale. Fishmongers, Fisheries.. a grant from the Fishmongers, Company for the Trust to evaluate freshwater fisheries management in England. Wales and Northem Ireland. Fishmongers, Water Quality Advocacy.. a grant from the Fishmongers, Company centred around water quality advocacy, with particular refererbce to 'lurning the tide on sewage, and influencing long range outcomes that will be of benefil to the shellfish sector, as well as all other coastal water stakeholders. Forest for the Nation.. 8id management support for Ribbl& Rivers Trust. Foundation for Water Research CIWEM.. A five year partnership between CIWEM and The Rivers Trust brings the technical depth and breadth of reach required to sustain and enhance FWR'S legacy., to inform, inspire and influence improved water and environmental management. Garfield Weston Grant.. to build core capacity within The Rivers Trust. Glenderamackin NEIRF.. Working with West Cumbria Rivers Trust to create a commercial structure (CIC) Ihat will drive enhancement of the water environment and surrounding land to achieve or exceed the objectives set by the NW River Basin Management Plan and the Catchment Action Plan for the Glenderamackin. GovAqua.' A Horizon Europe project on govemance innovations for a transition to sustainable and equitable water use in Europe. Greggs Comrnunity Urban River Regeneration Fund.. this project is fully-funded by the Greggs Foundation and is designed to engage and directly benefit local communities through education. Guilsfield Replenish.. Working with Severn Rivers Trust on developing a bespoke interface for Replenish in the Guilsfield catchment, including catchment specific land use change and soil husbandry interventions and environmental data. Hepple Wetlands WEIF.. To enable the delivery phase of the Hepple Wetland Restoration and Creation in the Grasslees Burn waterbody and other tributaries of the River Coquet including the Swindon Bum, Whitefield Burn and Bickerton Burn The project is managed and delivered by The Rivers Trust in partnership with Hepple Estate. Hogan Lovells Charity Partnership.. Charity partnership between Hogan Lovells International LLP and The Rivers Trust . The agreement includes donations for the benefit of The Rivers Trust, The Rivers Trust movement and specific Member Trusts. Humber.. funding provided by Associated Brttish Ports by way of mitigation for the Green Port Development to undertake river improvements to aid fish passage in the catchments flowing into the Humber Estuary. In-NO-Plastic.' A Horizon Europe project working on innovative approaches towards prevention, removal and reuse of marine plastic litter. Page 50
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 icatch Hub Network.. A Local Authority Waters Programme Community Water Development Fund grant to support communities in progressing water related projects and initiatives. The network will facilitate regional meetings, provide additional resources and encourage knowledge transfer in Ireland. Ireland Start-up.. funding provided by the Government of Ireland to promote rivers trust development in Ireland. Ireland Water Stewardship.. A project funded by Amazon Data Services Ireland Ltd and the Bonneville Environmental Foundation to identify opportunities for sustainable replenishment projects in Ireland and to build capacity in the water environment. John Elleman Foundation Grant.. Funding towards salary costs of key commercial and communication staff. LAWPRO Catchment Support Fund 2024.. Support and facilitate the development of new and emerging rivers trusts in Ireland and provide ongoing day-to-day support to local rivers Irusls. Leeds NFM Investment Readiness.. Development of a commercial investment model for the Leeds NFM programme, based on the Wyre NFM IR project, working closely with the Aire RT, EA, Leeds City Council and partners. Lidl Wetlands.. Lidl is funding projects to address water quality issues from agriculture. The projects will focus on wetland creation. Link Chemicals.. Funding from Wildlife and Countryside Link towards an End Chemical Pollution campaign river pollution analysis and mapping. Lyne River Restoration WEIF.. Working with Northumberland Rivers Trust on the River Lyne Restoration Project. M&S Water Stewardship.. Funding for Medway and Wye & Usk water stewardship projects. Mainstreaming Nature Based Solutions (Nbs): oat Innovation Funding for nature-based solutions. NBS have the potential to provid8 multiple socio-economic and environmental benefits by tackling flooding, drought and water quality issues at18ndscape scale. However, there are systemic barriers currently preventing wider adoption and the benefits of N8S from being fully maximised, such as= fragmentedlsiloed investment, lack of standardisation and gUlatOry restrictions. This transformational programme of work brings together multi-sectorial expertise and leadershlp to collaboratively create and test new solutions to remove these barriers through real life case studies and facilitate and enable transition of NBS into business-as-usual to deliver greater value for customers, society, environment. Morecambe Bay Volunteer Hub.. project to deliver a volunteer hub online portal to signpost volunteers to a range of volunteering opportunities. Natural Capital (Anglia).. Natural capital project in partnership with Anglian Water, VbWF and Elveden Estate. Natural Course.. EU Life Integrated Project to support the implementation of the North West (NW) River Basin Management Plan by building the strategic capacities needed in authorities and stakeholders. This will lead to new ways of working that will make protecting water resources in the NW more achievable and more affordable. Page 51
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Natural Course Legacy Website= A continuing collaboration by the Natural Course partners to maintain the project web51te for a further five years following the end of the project. Natural England Blue Spaces Mapping- This is a partnership project between Natural England and The Rivers Trust, the purpose of which is to continue to build capacity within the Catchment-Based Approach (CaBA) & Nature Recovery Network (NRN) partnerships, to use blue space mapping to maximise the health & wellbeing benefits of their work. Nature North Advocacy.. A funded advocacy role to utilise existing connections and identify opportunities to make new connections to gain greater visibility, support and investment in nature recovery and increase awareness of Nature North. NE Blue Space.. 15 minute Neighbourhoods.. A project funded by Natural England to detemiine method of identifying locations where blue infrastructure can be accessed in England within a 15 minute walk. NEIRF - BART.. This Natural Environment Investment Readiness Fund project will develop and pilot a freshwater biodiversity model that will secure long-term funding for river restoration. The project is being led by Bristol Avon Rivers Trust. NEIRF - DIME.. Working with the Wye and Usk Foundation to provide assistance on the DIME Natural Environment Investment Readiness Fund project. NEIRF - Calder & Colne RT.. Develop the governance and financial model of a brokeringltrading entity focussed on Biodiversity Net Gain and Replenish metrics. NEIRF - Eden Catchment.. A Natural Environment Investment Readiness Fund project funded by the Environment Agency to establish commercial guidance and future trades for the Eden Catchment market. NEIRF - Irwell GMCA (Greater Manchester).. A project to put in place the key building blocks needed to bring together a consortium of buyers for Natural Flood Management services across a 4,500ha of the upper Irwell Catchment. The installation of highly targeted NFM interventions, delivered by farmers, could reduce downstream flood risk to targeted communities. NEIRF - London River Bank.. Natural Environment Investment Readiness Fund project to understand the market for river-based Biodiversity Net Gain units and water availability and quality improvements across London. NEIRF Replenishing Nature.. A Natural Environment Investment Readiness Fund project funded by the Environment Agency to establish a formulised water stewardship metric to make it easier for businesses to invest in water. NEIRF SERT: Working with South East Rivers Trust on a Natural Environment Investment Readiness Fund project to design and establish a vehicle for financing and delivery of nature based solutions required for water resources resilience and wider landscape recovery in the Beult catchment and beyond. NEIRF Tyne.. Working in partnership with Tyne Rivers Trust on a Natural Environment Investment Readiness Fund project to set up a special purpose vehicle to facilitate trading of the environmental benefits provided by fine sediment load reduction in the River Tyne. Page 52
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 NEIRF - Upper Wharfedale.. The project will develop and test an innovative ecosystem-based nature funding model that generates credits for 'bundled' ecosystem services to fund nature recovery and species conservation in Upper Wharfedale in the Yorkshire Dales National Park. The approach will be tested at a pilot ecosystem restoration site at Kilnsey Park Estate. NEIRF Westcountry Rivers Trust River Bank: The River Bank project and watercourse Biodiversity Net Gain units gives the opportunity to provide landowners with an incentive to remove structures across up to entY watercourse sites. NEIRF Wye Tributory IDIME 2).. This project will establish the Commercial and legal infrastructure necessary to underpin a market and release £7.2m investment over 30 years in Natural Flood Management, base flow support, biodiversity and carbon sequestration within the River Wye catchment in Herefordshire. NERC Q-NFM.. Working with Lancaster University on quantifying the likely magnitude of nature-based flood mitigation effects across large catchments. Network Support Service.. A project to enable growth of a professional, efficient and evidence-led movement at the leading edge of environmental managemgnt, by developing and co-ordinating services for our member trusts that support professional and technical development and promote efficient, consistently safe and secure business practices. Northumbertand River Restoration WEIF.. Working with Northumberland Rivers Trust on the Northumberfand River Restoration Project. NRCP Iconic Partnerships: An Environment Agency Partnership Grant to assist with building and strengthening the Northumberland Catchment Partnership. NRN Data Model & Collaborative Delivery Platform.. Creation of a Nature Recovery Network collective monitoring and evaluation prototype for Natural England as proof of concept. NRN Data Platform Phase 2.. Creation of a Nature Recovery NeOrk collective monitoring and evaluation prototype for Naturel England as proof of concept. NRTICoke Restoring Nature.. Working with Norfolk Rivers Trust using Coca Cola funding on a projact 'Restoring Nature and Replenishing Water at a Landscape-scale,. People's Postcode Lottery.. Grant funding to secure core functions including fundraising, communications, human resources and building operational architecture. Pilot Resilience Project.. to support kn recently established rivers trusts in Ireland (Inishowen and Maigue) through the initial years of operation, as they transform from volunteer-led fledgling organisations to sustainable charities capable of securing and delivering catchment-scale projects. Pont & Blyih River Restoration WEIF: To improve the Water Framework Directive status of waterbodies in the Pont and Blyih river catchment through targeted interventions as identrfied in the 2023 Pont and B1h River Restoration and N8ture Recovery Plan including developing relationships wtth local landowners and developing co-funding opportunities. Preventing Plastic Pollution.. An EU Interreg project to enhance and protect the coastal and transitional water ecosystems by nalionallylinternation8lly enabling transformational change in both the scale and impact of activities to tackle plastic pollution. Page 53
Tha Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Resilient Glenderamackin Landscape Recovery: Continuation of the Resilient Glenderamackin project funded by NEIRF. Looking at expanding into landscape recovery with the focus on how to blend private and public finance to deliver a catchment scale intervention. Ribble Sectoral Transformation Project.. The project is to run EcDservR and the ecosystem services tool for the whole of the North West, Mersey to Cumbria, for 12 catchments in the North West River Basin District. River Bathing Water Development.. Funding from multiple sources including the Oak Foundation and the Alba Trust to further the development of public awareness of river pollution and sewer outfalls through work on bathing water designations for rivers. River Buffers Campaign.. A project to deliver a multifaceted campaign which educates a wide range of audiences (the public, landowners, ministers, governmental bodies, MP'S and other relevant stakeholders) about the benefits of river buffers and builds a platform for direct discussion with landowners and policy makers. River Deep Mountain Al.. As 8 project partner the Rivers Trust will join the new Oat Innovation Fund project on Artificial Intelligence. Purpose.. to deliver proofs-of-concepts demonstrating how machine learning models and remote sensing help to enhance and improve catchment monitoring and planning. Salmon School Engagement.. School engagement including teaching classes about rivers and undertaking eDNA testing and athork. Activities build up to the Wodd Salmon Connections conference at Fishmongers Hall in January 2025. Shellfisheries Risk Mapping.. Grant funding from the Fishmongers, Company to develop spatial analysis of microbial pollution risk to shellfisheries. Simply Washrooms Campaign.. Charity partnership beeen SimpSy Washrooms Ltd and The Rivers Trust. The agreement includes donations and communications for the benefit of The Rivers Trust. 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 (Interreg) wlth the Government of Ireland and Northern Ireland Executive providing match-funding. Strategic Development Fund.. a fund from donations reived, established to carry out strategic development in accordance with the Trust's objectives. Sustainable Catchment Projects.. Capital funding from the Dep8rtment of Agriculture. Environment and Rural Affairs in Northern Ireland. Working in partnership with Ballinderry Rivers Trust to deliver a variety of bespoke agri-environmental on-farm measures and interventions, designed to improve and protect water and air quality in the Dundrum, Ballinderry, Salterstown and the Upper Bann rivers, catchments. Sustainable Waters Educational Materials & Outreach.. Create a suite of ten Ambassador Scout branded lessons for use by all member trust education staff. Professionally designed and presented with ties to the school curriculum. Tame RT NFM Modelling.. Natural Flood Management modelling. Tees RT GIS Training.. GIS technical training and support for Tees Rivers Trust staff. Page 54
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Thames Catchment.. Funding from Thames Water to facilitate a partnership with members of Catchment Partnerships to support Thames Catchment CaBA Partnerships. Thames Technical Support Project" Funding from Thames Water to further catchment partnership support. The Outfall Safari.. Working in partnarship with Trent RT to test the Pollution Watchdog Outfall Safari app. Topsoil: an EU Interreg project which explored the possibilities for using the uppermost soil layers to solve current and future water challenges. Treasure Your River.. a project with the Hubbub Foundation UK to work collaboratively to deliver the aims of the campaign around the reduction of lrtter from rivers with emphasis on monitoring and evaluation. Trees for Water.. Funding from the Missing Salmon Alliance to develop a movement wide pipeline of tree planting projects and a hub for provision of technical support around tree planting and carbon registration. Turing Internship.. Grant funding from the Alan Turing Institute Climate and Environment Pilot TINIDSG programme for an internship and data study group. Water for Tomorrow.. an EU Interreg project to develop and implement new multi sector adaptation strategies to facilitate sustainable management of water resources. Water Resources Priority Catchments.. a project with the Environment Agency to facilitate delivery of sustainable Water Resource outcomes in identified calchments as part of the Catchment Based Approach (CaBAI and support wider communications of the benefits of a collaborative approach to addressing water resources challenges. Water Net G8in'. oat Water Breakthrough Challenge funding to explore the govemance 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 wider Nature Based Solution5 that Passively contribute to summer base flows. Woodlands for Water.. a grant from Defra to uplift Riparian planting, with 3,150 heclares of new Riparian woodland created as a result of this project's support, development and engagement activities. WWFICoke Phase 3.. A project to upscale the Water Stewardship approach to a national scale 8nd integr8te with CaBA, alongside developing relationships with large national and international corporates interested in becoming water stewards. voArr Wetland Data Explorer.. Collaborative agreement vrfith The Wildfowl & Wetlands Trust to create a Wetland Data Explorer App. YDRT Meta Data Hub.. Collaborative agreement with the Yorkshire Dales Rivers Trust to develop Metadata hub for the River Wharfe. Page 55
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Yorkshire Water CaBA Partnerships: The overall aim of the project is to support three of the Yorkshire Catchment Partnerships (the Aire, Calder and Don) to each develop a bespoke online catchment portal or 'Story Map, which promotes the work of the partnership and enables them to visualise and share their catchment evidence base. Yorkshire Water Dam Removal Training.. Partnership agreement with Yorkshire Water to identify low risk barrier removals which will give the greatest benefits to Yorkshire rivers. Page 56
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 24 Analysls of net assets betw8en funds Group Total funds at31 December 2024 Unre8trlcted funds General Restrlcted funds Tangible fixed assets Current assets Current liabilitl8S 47,797 1,367,820 (416.707 998,910 47,797 6,177,980 4,961,475 4,810,160 4,544,768 Total net assets 265,392 1,264,302 Total funds at31 December 2023 Unrestricted funds General Restricted funds Tangible fixed assets Current assets Current liabilities 46,157 1,512,028 616,432 46,157 6,888,533 5,886,745 5,376,505 5,270,313 Total net assets 941,753 106,192 1,047,945 25 Analysls of nat funds Group At31 Decembar 2024 At 1 January 2024 Financlng cash flows Cash at bank and in hand 5,912,442 5,912,442 (1,013,138) 1,013,138 4,899,304 4,899,304 At31 December 2023 At 1 January 2023 Flnancing cash flows Cash at bank and in hand 3,679,799 2,232,643 2,232,643 5,912,442 3,679,799 5.912,442 Page 57
The Rivers Trust Notes to the Financial Statements for the Year Ended 31 December 2024 26 Related party transactions Income received from Fellows who are also Trustees totalled £15,000 (2023: £5,000). During the year the charity also received total donations of £103,000 (2023 - £99,184) from other related parties. In addition, a related paty donated £100,000 (2023.. Nil) towards grants in support of smaller trusts. A Trustee of The Rivers Trust is the Chief Executive Officer of Ribble Rivers Trust (RRT}. During the year, The Rivers Trust purchased services amounting lo £30,500 {2023.. £45,435) from RRT and its trading subsidiary and received £13,934 (2023- £1,500) from them. At the year-end there was a creditor balance of £Nil {2023.' £517) and a debtor balance of £2,239 (2023.. £1,538). The Chief Executlve Officer of Action for the River Kennet (ARK) was 8 Trustee of The Rivers Trust until 2nd July 2024. In the period 1st January 2024 to 2nd July 2024, The Rivers Trust purchased services amounting to £Nil (2023.. £17,353) from ARK and received £1,448 (2023.. £1,740) from them. A Trustee of The Rivers Trust is the Chief Executive Officer of the South East Rivers Trust (SERT). During the year, The Rivers Trust purchased services amounting to £4,677 {2023.' £387,574) from SERT and received £8,202 (2023.. £18,825) from them. At the year-end there was a debtor balance of £3,308 (2023.. £2,871). A Trustee of The Rivers Trust is a Trustee of the Wye and Usk Foundation (WUFI. During the year, The Rivers Trust purchased services amounling to £80,729 (2023.. £47,360) from WUF and received £1,500 {2023.' £8,362) from them. At the year-end there was a creditor balance of £16,379 (2023= £10,344). Costs were incurred on behalf of Rivers Ecosystem SeNices Limited, which is a subsidiary of The Rivers Trust, in the period for staff and other costs of £547,813 (2023.. £192,724). Profits from the subsidiary are also gift aided to The Rivers Trust each year. At the year-end there was a balance of £349,067 owed to the charity (2023.. £197.836). A Trustee of The River5 Trust is the Chief Executive Officer of the West Cumbria Rivers Trust (WCRT). During the year, The Rivers Trust purchased services amounting to £38,187 12023: £34,340) from WCRT and received £102,385 (2023". £24,691) from them. At the year-end thare was debtor balance of £14,110 (2023.. £1,386) and 8 creditor balance of £8,193 (2023.. £5,244). Costs were incurred on behalf of Patchview Designated Activity Company, which is a subsidiary of The Rivers Trust, in the period for staff and other costs of £13,927 (2023.. £1,547). Costs were incurred on behalf of The Rivers Trust by Patchview Designated Activity Company amounting to £106,944 (2023- Nil). At the year-end there was a balance of £7,460 owed to the charity (2023- £10,540). Costs were incurred on behalf of Abhainn BEO, which is a subsidiary of The Rivers Trust, in the period for staff costs amounting to £228 (2023: £Nil). At the year-end there was a balance of £8,513 owed to the charity (2023.. Nil). Two Trustees of The Rivers Trust are the directors of both Patchview Designated Activity Company and Abhainn BEO. Page 58