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2022-12-31-accounts

Company No: 05763380 Charity No: 1114682

SOUTH CUMBRIA RIVERS TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

SOUTH CUMBRIA RIVERS TRUST LIMITED

CONTENTS

Pages
Reference and administrative information 1
Report of the Trustees 2-5
Independent examiner's report to the Trustees 6
Statement of financial activities 7
Balance sheet 8-9
Statement of cash flows 10
Notes to the financial statements 11-25

SOUTH CUMBRIA RIVERS TRUST LIMITED REFERENCE AND ADMINISTRATIVE INFORMATION (Registered Company Number.. 057633801 IRegislered Charity Number.. 1114682} TrusleeslDireclors Lord Cavendish of Furness DL {Presidentl Dr RA Sweeting (Chairman) CH Bagol JA Barrall SA Benn (appointed 13.06.221 P Chamberlain {resigned 26.07.22) J Cleaver D Devenish A Fell LJ Higgins (resigned 26.07.221 DPR Knight (Treasurer) N Wilkinson MBE A Gardner (appointed 14.02.23) Secretsry D Devenish Registered Office South Cumbria Rivers Trust Limited The Refinery The Clock Tower Business Centre Low Wood Ulverslon Cumbria LA12 8LY Independent Examiner Jenny Mccabe FCA MHA Moore and Smalley Chartered Accountants Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL Page 1

SOUTH CUMBRIA RIVERS TRUST LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their report and the financial statements of the Trust for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Trust.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Trust’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities applicable in the UK and Republic of Ireland published in October 2019.

Structure Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 30 March 2006 and registered as a charity on 15 June 2006. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.

In the event of the winding up of the charitable company the liability of the members is not to exceed £10 each.

Trustees of the Charity

The directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end are detailed on page 1.

Recruitment and Appointment of the Management Committee

Under the Articles, the appointment of all members of the Management Committee must be approved at the next general meeting after their appointment. All members are eligible for re-election after serving a 3-year term. The Management Committee delegate much of the management of the trust affairs to an Executive Committee, who reports back on strategic matters. Since the Covid pandemic, the Executive Committee have been meeting on-line on a weekly basis and have found this is a good way of disseminating information and also making quick decisions. This has been a positive benefit for the both the employed staff and the Executive Committee. All Trustees are given an induction of the workings of the trust at the outset of their appointment.

Risk Management

The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust and are satisfied that adequate systems are in place to mitigate any exposure to the major risks. A review of the risks was looked at during the period and adjustments made to policies and procedures where appropriate.

Objectives and Activities for Public Benefit

The principal objective of the Trust is to monitor, conserve and protect and, when necessary, rehabilitate and improve biodiversity of the lakes, rivers and streams of South Cumbria including the adjacent coastal waters for the public’s benefit. Also, to advance the education of the public, companies and public bodies in the understanding of lakes and rivers including their flora, fauna, socio-economic and amenity value and the management of the water together with the need for, and benefits of, conservation, protection, rehabilitation and improvement of the aquatic environment.

The Trustees have reviewed the activities carried out over the period and feel that all these contribute to the aims and objectives of the trust. Habitat restoration and improvement has been to the fore over the year. The Trust has been present at several events to promote this and has also renewed the website and used social media to good effect.

Page 2

SOUTH CUMBRIA RIVERS TRUST LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees confirm that they have referred lo the general guidance on public benefit issued by the Charity Commission when reviewing and planning the Trust's aims and objectives. Volunteers continue lo be an important part of the Trust's work. The Trustees are all volunteers and give generously of their lime in their fields of expertise. There are also a good number of other volunteers who will come and help with projects work. This includes collecting habitat information and practical work with projects, such as eradicating invasive species or river bank protection work. This serves not only lo undertake important work for the Trust, but also to educate the community about the work of the trijsl and the need for habitat improvement. Achlevements. Perfomiance, Flnanclal Revlew and Future Proposals The income for the year totals £987,435. This is the largest turnover achieved by the Trust to date and is a great reflection of the extent of the work the staff have been carrying out during the year. This is practically all project work in one form or another, so il has been a busy year. 11 is important to note that the Bowston Weir removal project was completed this year under the River Resloralion Partnership and so contributed 8 significant proportion of the increase in work generated. This project has received environmental recognition and has contributed significantly to an international award and has been nominated for others as well. However, we also undertook many other works, which are equally deserving of praise, such as the other work under the River Resloralion Partnership programme and the work with United Utilities, the continual works within the Windermere catchment to name a few. A full list of projects is shown later in the accounts, which shows the full extent of the project work undertaken. The trading income element has shown lo increase this year lo £152,898. The trading element enables us to recoup a proportion of the VAT and so il is important lo maintain a higher element where there is the ability to do so. On the expenditure side, we have total costs including conlraelor and material costs totalled £916,591. The increase is due lo the increased work carried out, bul this still allows for a surplus of £70,844 for the year to add the Trust's overall funds. which have risen to £572,689. Reserves Policy Free reserves represent the 'working capitsl, of the Trust available to support short and medium tem objectives and to safeguard against unexpected decreases in income. The Charity Commission guidelines define free reserves as inwme, which becomes available lo the Trust and is expended al the Trustees, discretion in fLlrtheran￿ of any of the Trust's objects, but is not yet spent, commilled or designated. The Trustees have examined the needs and challenges faced by the Trust, in both the short and medium temi, along with relevant financial forecasts, and have formulated a policy to meet those needs. Free reserves are calculated as unreslricled funds less designated funds less tangible fixed assets. The Trustees have a policy to monitor free reserves, as well as funds available lo the Trust to run the projects. The policy held by the charity ensures we have sufficient free reserves lo run the charity for three lo six months should the resoLJrces be expended. As al 31 December 2022, free reserves increased to £298,144 and so this well exceeds the parameters of the policy. Investment Policy Under the Memorandum and Articles of Association, the Trust has the power lo invest surplus funds where the Trustees deem appropriate. Page 3

SOUTH CUMBRIA RIVERS TRUST LIMITED

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees’ Responsibilities

The Trustees (who are also directors of South Cumbria Rivers Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Trustees

DPR Knight Treasurer

Date: 02/05/2023

Page 4

SOUTH CUMBRIA RIVERS TRUST LIMITED

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SOUTH CUMBRIA RIVERS TRUST LIMITED

I report to the Trust Trustees on my examination of the accounts of the company for the year ended 31 December 2022 which are set out on pages 7 to 25.

Responsibilities and basis of report

As the charity Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

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

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

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

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

Jenny McCabe FCA MHA Moore and Smalley Chartered Accountants Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria

Date: 18/05/2023

Page 5

SOUTH CUMBRIA RIVERS TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account)

FOR THE YEAR ENDED 31 DECEMBER 2022

Income from:
Donations and legacies
Charitable Activites
Performance related grants
Sales of goods and services
Government grants
Investments
3
Other - surplus on sale of tangible assets
Total
Expenditure on:
Raising funds
Charitable activities
Total
4
Net surplus or (deficit) before
transfers
2
Transfer between funds		 Unrestricted
Restricted
Total
Total
funds
funds
funds 2022
funds 2021
£
£
£
£
10,166
1,430
11,596
82,886
53,357
766,427
819,784
318,795
67,181
85,717
152,898
87,708
-
-
-
(2,302)
1,157
-
1,157
51
-
2,000
2,000
-
131,861
855,574
987,435
487,138
750
-
750
-
113,776
802,065
915,841
496,378
114,526
802,065
916,591
496,378
17,335
53,509
70,844
(9,240)
(13,370)
13,370
-
-
Net movement in funds
Reconciliation of funds:		 3,965
66,879
70,844
(9,240)
Total funds brought forward 294,179
207,666
501,845
511,085
Total funds carried forward
18
298,144
274,545
572,689
501,845

Page 6

SOUTH CUMBRIA RIVERS TRUST LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2022

Fixed Assets
Tangible assets
7
Current assets
Debtors
8		 £
£
£
£
4,545
227
83,288
143,731
2022
2021		 £
£
£
£
4,545
227
83,288
143,731
2022
2021
Cash at bank and in hand 802,574 614,519
Creditors:amounts falling due within
one year
9
Net current assets
Net assets
Funds:
Unrestricted funds
10
Restricted funds
11
Total funds
18		 758,250
(256,632)
568,144
501,618
572,689
501,845
298,144
294,179
274,545
207,666
572,689
501,845
885,862
(317,718)

Page 7

SOUTH CUMBRIA RIVERS TRUST LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2022

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

02/05/2023

These accounts were approved by the directors and authorised for issue on …………… and are signed on their behalf by:

...................................... …………………………………………..

DPR Knight (Treasurer) Dr RA Sweeting (Chairman)

Company Registration Number: 05763380

Charity Number: 1114682

Page 8

SOUTH CUMBRIA RIVERS TRUST LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2022

2022
2021
£
£
£
£		 2022
2021
£
£
£
£		 2022
2021
£
£
£
£		 2022
2021
£
£
£
£
Reconciliation of net income / (expenditure) to net
cash flow from operating activities
Net income/(expenditure) for the year
Depreciation of tangible fixed assets
Decrease in debtors
Increase in creditors		 70,844
1,477
60,443
61,086


(9,240)
245
27,215
108,653
Net cash flow from operating activities 193,850 126,873
Cash flow from investing activities
Payments to acquire tangible fixed assets (5,795) -
Net cash flow from investing activities (5,795) -

Net increase in cash and equivalents
Cash and cash equivalents at 1 January 2022
Cash and cash equivalents at 31 December 2022		 188,055
614,519
802,574		 126,873
487,646
614,519

Page 9

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting Policies

South Cumbria Rivers Trust Limited is a company limited by guarantee in England and Wales.

Basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

South Cumbria Rivers Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

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

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of interest paid or payable by the Bank.

Going concern

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for a period of at least 12 months from the date the accounts are approved. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 10

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting Policies ( continued )

Fund accounting

Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. Any overspends are met by unrestricted funds.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Operating Leases

Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Equipment & computers Straight line over 3 & 5 years Motor Vehicle Straight line over 4 years

Stock

Stock of materials is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors and accrued income

Debtors are recognised at the settlement amount due after any trade discounts allowed. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Cash at bank and in hand

Cast at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due

Pensions

The charitable company operates a defined contribution pension scheme and the pension charge represents the amount payable by the charity in respect of the year. The assets of the scheme are held separate from those of the charitable company in independently administered funds.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Page 11

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

2. Net Movement in Funds

The net movement in funds is attributable to the principal activities of the charity and is earned entirely within the United Kingdom.

Surplus is stated after charging:
Operating leases - property
Depreciation
Independent examination fees		 2022
2021
£
£
14,340
14,340
1,477
245
6,475
4,700

3. Investment income

Bank interest receivable Total
Total
2022
2021
£
£
1,157
51

4. Total expenditure

Cost of raising funds
Expenditure of charitable activities		 Staff costs Other costs
Total 2022
£
£
£
-
750
750
232,537
683,304
915,841
232,537
684,054
916,591
Expenditure of charitable activities Staff costs Other costs
Total 2021
£
£
£
185,270
311,108
496,378
185,270
311,108
496,378

Page 12

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

Other costs are made up as follows
Project materials and costs
Fundraising costs
Advertising and leaflets
Premises costs
Motor expenses, travel and subsistence
Printing, postage and stationery
Telephone, internet and computer costs
Insurance
Legal and professional costs
Accountancy
Depreciation
Disallowed VAT
Miscellaneous expenses		 2022
2021
£
£
616,611
259,080
750
-
-
1,300
20,252
16,140
9,678
5,862
313
177
6,756
5,672
4,245
2,679
7,429
6,350
6,475
4,700
1,477
245
6,020
4,333
4,048
4,570
684,054
311,108

Of the £916,591 expenditure in 2022 (2021: £496,378), £114,526 was charged to unrestricted funds (2021: £74,427) and £802,065 to restricted funds (2021: £421,951). Within the total expenditure are governance costs of £5,573 (2021: £4,631) which are now included within unrestricted expenses and comprise staff costs of £2,335 (2021: £2,281) and other costs of £3,238 (2021: £2,350).

Page 13

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

5. Analysis of Support Costs

Total Total
Salary Admin 2022 2021
£ £ £ £
Experience the River 744 544 1,288 2,893
Dubbs Beck 325 237 562 -
River Kent SSSI Riparian Mgt - - - 267
Catchment Base Approach 14,999 10,969 25,968 28,667
Restoring the Rivers 182 133 315 306
Esthwaite Catchment Improvement 376 275 651 -
Barrow fish counter validation 322 235 557 2,154
Winster & Gilpin Habitat Improvements 2,106 1,540 3,646 3,897
Rusland Pool 2 - - - 144
WEG Elterwater Restoration 1,332 974 2,306 8,265
WAMM Morecambe Bay 1,767 1,293 3,060 5,232
Tesco Love My River 144 106 250 2,261
RRS 2020-21 Funding 4,355 3,185 7,540 960
Project Management RRS 2020-21 1,831 1,339 3,170 12,950
Low Risk Barriers - - - 2,189
Windermere Water is Life 3,502 2,561 6,063 11,886
Coniston Mines 979 716 1,695 9,083
WEG Bowston Wier & Mill Race de-silt 25,237 18,456 43,693 22,612
WAMM Volunteer Hub 509 372 881 1,076
Eels BAE 591 432 1,023 1,729
RRS Longsleddale 4,025 2,944 6,969 5,335
RRS Lambrigg 1,507 1,102 2,609 1,810
Eels in Classroom 1,202 879 2,081 96
RT LIFE Natural Course 4,401 3,219 7,620 16
RRS Cowan Head 2021/22 2,295 1,679 3,974 -
Education & Engagement Work 2,113 1,545 3,658 -
E-fish Salmon Rivers 1,068 781 1,849 -
RRS Dubbs Beck 79 58 137 -
Roudsea Restoration Partnership 169 123 292 -
AA Floods 260 190 450 -
Windermere Community Partnership - Garfield Weston 963 704 1,667 -
RRS Midale & Well Foot 2023-24 72 53 125 -
RRS Sadgill 2022-23 148 108 256 -
NFM 424 310 734 6,292
Cool Rivers 455 333 788 21,013
CaST 6,638 4,854 11,492 3,837
LIFE R4Ever Kent 37,865 27,692 65,557 9,102
HLF Phase 2 2,381 1,741 4,122 20,249
CFINNS 1,503 1,099 2,602 897
Goose Management - - - 57
Kent Invasives 764 559 1,323 616
Windermere Invasive Species Group 115 84 199 -
Duddon River Association 96 70 166 200
127,844 93,494 221,338 186,091

Salary has been apportioned by hours spent on the various projects. The admin cost is also apportioned on the basis of hours worked by the trust staff.

Page 14

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

6. Directors and employees

Employee costs during the year 2022
2021
£
£
Wages and salaries 204,326
162,099
Social security costs
Pension costs
The average number of employees during the year was as follows:
Full time
Part time		 13,891
11,476
14,320
11,695
232,537
185,270
6
5
2
2

There were no employees receiving more than £60,000 in the year (2021 Nil).

The directors received no remuneration or reimbursement of expenses during the year from the company (2021 - £nil). The directors of the company are shown on page 1.

7. Tangible fixed assets

Cost
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
Disposals
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Computer
Motor
Equipment Equipment
Vehicles
Total
£
£
£
£
25,199
9,459
-
34,658
-
-
5,795
5,795
(3,462)
-
-
(3,462)
21,737
9,459
5,795
36,991
25,199
9,232
-
34,431
-
227
1,250
1,477
(3,462)
-
-
(3,462)
21,737
9,459
1,250
32,446
-
-
4,545
4,545
-
227
-
227

Page 15

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

8. Debtors

Trade debtors and accrued income
Other debtors
Prepayments		 2022
2021
£
£
78,785
140,151
1,088
375
3,415
3,205
83,288
143,731

Accrued income relates to grant funding earned but not yet invoiced at the year end.

9. Creditors : amounts falling due within one year

Creditors : amounts falling due within one year
Trade creditors
Taxation and social security
Accruals
Deferred income
Other creditors		 2022
2021
£
£
7,871
9,273
36,542
24,012
6,060
5,194
265,495
216,029
1,750
2,124
317,718
256,632
Movements in deferred income are as follows:
Balance as at 1 January 2022
Amount deferred in year
Amount released to income earned from charitable activities
Balance as at 31 December 2022
2022
2021
£
£
216,029
105,459
230,495
181,029
(181,029)
(70,459)
265,495
216,029

10. Unrestricted funds

At 1 January 2022
Net incoming resources for the year
Transfer from restricted funds
At 31 December 2022		 £
294,179
17,335
(13,370)
298,144

Page 16

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

11. Restricted Funds

Restricted Funds
Balance
Balance
01.01.22
Incoming
Outgoing
Transfers
31.12.22
£
£
£
£
£
Movement in resources
Experience the River
River Fly Partnership
Dubbs Beck
Windermere Reflections – RTS
Kent SSSI Riparian Management
Catchment Base Approach
Restoring the Rivers
Esthwaite Catchment Improvement
Subsoil Management
Barrow Fish Counter Validation
CPAF Windermere
Eel Passes
FSCFA
Winster & Gilpin Habitat Improv’mts
Rusland Pool 2
WEG Elterwater Restoration
Bela Projects
WAMM Morecambe Bay
Outsider Consultancy RRS
New Hall Farm FIP
Tesco Love My River
Envirotech
RRS 2020-21 funding
Project Management RRS 2020-21
Windermere Water is Life
Coniston Mines
WEG Bowston Wier & Mill Race de-silt
WAMM Volunteer Hub
Eels BAE
Eels United Utilities
RRS Longsleddale
RRS Lambrigg
Eels in Classroom
RT LIFE Natural Course
RRS Cowan Head 2021/22
Education & Engagement Work
E-fish Salmon Rivers
RRS Dubbs Beck
Roudsea Restoration Partnership
AA Floods
Windermere Community Partnership - Garfield Weston
RRS Midale & Well Foot 2023-24
RRS Sadgill 2022/23
NFM
Cool Rivers
CaST
LIFE R4Ever Kent
Coniston & Crake Catchment (CCCP)
HLF Phase 2
CFINNS
DEFRA WFD LAG
Kent Invasives
Windermere Invasive Species Group
NE Overwater Crassula
NE INNS Control
Grasmere Invasives
Duddon River Association
DRA - Black Syke		 6,377
50
(1,301)
-
5,126
526
400
(645)
-
281
5,590
-
(658)
-
4,932
665
2,000
(108)
(87)
2,470
28,967
-
(11,144)
(5,209)
12,614
15,885
20,000
(26,825)
-
9,060
256
-
(343)
87
-
8,309
-
(666)
-
7,643
762
-
(656)
-
106
406
-
(558)
152
-
659
-
-
(152)
507
228
-
-
-
228
593
-
-
-
593
10,722
1,868
(10,745)
-
1,845
172
-
-
-
172
(5,282)
3,412
(4,370)
6,240
-
1,052
-
-
-
1,052
19,749
-
(3,558)
-
16,191
11,546
-
-
(11,546)
-
586
-
-
-
586
829
-
(263)
-
566
3,626
-
(100)
(750)
2,776
16,225
-
(12,398)
(3,827)
-
2,048
-
(5,299)
3,251
-
(4,561)
5,350
(7,131)
6,342
-
-
8,124
(6,806)
(1,318)
-
-
455,000
(472,332)
17,332
-
1,390
-
(965)
-
425
(2,164)
3,187
(1,023)
-
-
(300)
-
-
300
-
-
75,000
(25,876)
-
49,124
-
22,770
(49,270)
26,500
-
2,904
8,100
(3,608)
-
7,396
-
6,559
(8,364)
1,805
-
-
50,000
(6,860)
-
43,140
-
5,010
(4,287)
-
723
-
3,500
(1,915)
-
1,585
-
40,000
(138)
(26,500)
13,362
-
-
(292)
750
458
-
4,200
(450)
-
3,750
-
38,000
(1,667)
-
36,333
-
125
(125)
-
-
-
255
(255)
-
-
15,003
-
(818)
-
14,185
1,473
-
(1,218)
-
255
-
22,295
(25,942)
-
(3,647)
-
79,439
(87,964)
-
(8,525)
8,622
-
-
-
8,622
12,966
30
(6,599)
-
6,397
7,937
-
(2,747)
-
5,190
649
-
-
-
649
14,189
-
(1,602)
-
12,587
1,797
700
(1,191)
-
1,306
2,560
-
-
-
2,560
4,014
-
-
-
4,014
294
-
(294)
-
-
2,366
200
-
-
2,566
8,031
-
(2,689)
-
5,342
207,666
855,574
(802,065)
13,370
274,545

Page 17

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

11. Restricted Funds (continued)

Balance
Balance
01.01.21
Incoming
Outgoing
Transfers
31.12.21
£
£
£
£
£
Movement in resources
Experience the River
River Fly Partnership
Dubbs Beck
Windermere Reflections – RTS
Kent SSSI Riparian Management
Catchment Base Approach
Restoring the Rivers
Esthwaite Catchment Improvement
Subsoil Management
Barrow Fish Counter Validation
CPAF Windermere
Eel Passes
FSCFA
Winster & Gilpin Habitat Improv’mts
Rusland Pool 2
WEG Elterwater Restoration
Bela Projects
WAMM Morecambe Bay
Outsider Consultancy RRS
New Hall Farm FIP
Tesco Love My River
Envirotech
RRS 2020-21 funding
Project Management RRS 2020-21
Low Risk Barriers
Windermere Water is Life
Coniston Mines
WEG Bowston Wier & Mill Race de-silt
WAMM Volunteer Hub
Eels BAE
Eels United Utilities
RRS Longsleddale
RRS Lambrigg
Eels in Classroom
RT LIFE Natural Course
NFM
Cool Rivers
CaST
LIFE R4Ever Kent
Coniston & Crake Catchment (CCCP)
HLF Phase 2
CFINNS
DEFRA WFD LAG
Goose Management
Kent Invasives
Windermere Invasive Species Group
NE Overwater Crassula
NE INNS Control
Grasmere Invasives
Duddon River Association
DRA - Black Syke		 9,260
75
(2,958)
-
6,377
607
-
(81)
-
526
5,590
-
-
-
5,590
665
-
-
-
665
29,239
-
(272)
-
28,967
25,415
20,000
(29,530)
-
15,885
571
-
(315)
-
256
8,309
-
-
-
8,309
762
-
-
-
762
2,590
-
(2,184)
-
406
659
-
-
-
659
228
-
-
-
228
593
-
-
-
593
14,922
-
(4,200)
-
10,722
868
4,626
(5,322)
-
172
(1,304)
22,327
(26,305)
-
(5,282)
1,052
-
-
-
1,052
26,727
400
(7,378)
-
19,749
11,546
-
-
-
11,546
586
-
-
-
586
3,207
-
(2,378)
-
829
3,626
-
-
-
3,626
49,718
5,066
(29,718)
(8,841)
16,225
27,071
-
(14,778)
(10,245)
2,048
-
1,410
(2,367)
957
-
-
29,282
(33,843)
-
(4,561)
-
35,437
(35,437)
-
-
-
12,457
(22,702)
10,245
-
-
2,500
(1,110)
-
1,390
-
-
(1,764)
(400)
(2,164)
-
-
-
(300)
(300)
-
75,000
(83,841)
8,841
-
-
10,613
(10,356)
(257)
-
-
3,000
(96)
-
2,904
-
16
(16)
-
-
15,627
41,116
(29,193)
(12,547)
15,003
-
12,500
(21,779)
10,752
1,473
-
3,163
(3,163)
-
-
-
10,220
(10,220)
-
-
18,472
150
-
(10,000)
8,622
-
50,796
(37,830)
-
12,966
8,834
-
(897)
-
7,937
649
-
-
-
649
57
-
(57)
-
-
14,654
850
(1,315)
-
14,189
2,127
-
(330)
-
1,797
2,560
-
-
-
2,560
4,014
-
-
-
4,014
294
-
-
-
294
2,300
66
-
-
2,366
8,247
-
(216)
-
8,031
300,342
341,070
(421,951)
(11,795)
207,666

Page 18

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

12. Statement of funds

Experience the River Develop the interest and understanding of our freshwater aquatic environment in school children. River Fly Partnership Train volunteers to identify and survey aquatic invertebrates as an aid to monitoring water quality. Dubbs Beck Improvement works in line with River Restoration proposals for the Kent and/or Freshwater Pearl Mussels (FwPM) benefits. Windermere Reflections – RTS Habitat improvements of Windermere’s shoreline. Kent SSSI Riparian Management To improve the effects of diffuse rural pollution, specifically sediment inputs, to the River Kent & Tribs SSSI through the use of soft engineering bank repair techniques. Catchment Base Approach Support for Catchment Hosting of the Kent/Leven RBD catchment and joint hosting of the River Duddon (SW Lakes RBD catchment). Restoring the Rivers Riverine habitat improvement works in the Windermere catchment. Esthwaite Catchment Improvement Habitat improvement works in the littoral zone of the lake. Subsoil Management Management of an agricultural asset to reduce soil compaction. Barrow Fish Counter Validation Video imaging of fish migration to determine species split between salmon and seatrout. CPAF Windermere Restoration of Windermere’s reed beds and habitat improvement in Little Langdale to improve habitat for FwPM. Eel Passes A project to raise awareness amongst the public of the endangered European eel and the improvements to eel passage work conducted by South Cumbria Rivers Trust. FSCFA Measures to improve fisheries within South Cumbria. Winster & Gilpin Habitat To determine the current status of each watercourse in relation to its improvements ecology and habitat and where needs are identified, implement appropriate restoration and remediation options to allow recovery. Rusland Pool 2 This is a habitat improvement project that is involved with the de culverting of a watercourse within the Rusland Valley. This project is funded through the Environment Agency’s Fisheries Improvement Fund. WEG Elterwater Restoration This project aims to reconnect Great Langdale beck to the middle basin of Elterwater. This will re-establish the natural course of the river and allow the return of natural river processes in this restored area.

Page 19

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

12. Statement of funds (continued)

Bela Projects This is a project to assist the return of the river to a more natural function by installing flow deflectors on a an over widened section. This intervention aims to accelerate flows, deter vegetation of gravel banks and allow the gravels to become available for salmonid spawning. WAMM Morecambe Bay Wholesale Approach to Maritime Management (WAMM) This is a pilot project to test collaboration between the Coastal Partnership Network and the Catchment Based Approach Catchment Partnerships. The pilot is based around Morecambe Bay and includes SCRT, Lune rivers trust, Wyre rivers trust and the Morecambe Bay Partnership. Each partner is working on its own individual project with plastics in the environment being the binding theme. Outsider Consultancy RRS This is not a project but a holding account for funds originating from 10-006 River Restoration Strategy to pay for contract work agreed by the EA. New Hall Farm FIP This project is erecting 600 metres of stock fencing on a tributary of the River Kent downstream of Staveley. This will prevent stock access into the river and improve a silt/faecal contamination source. This is funded through the Environment Agency’s Fisheries Improvement Fund. Tesco Love My River Funding from Tesco’s “Bags for help” promo to aid engagement and education of the public and connection with their rivers/water courses. Envirotech Funds donated to SCRT specifically to support habitat improvement projects. RRS 2020-21 funding Environment Agency funding of the Cumbria River Restoration Strategy in the 2020/21 financial year to be directed to agreed capital and contractor costs. Project Management RRS 2020Environment Agency funding of the Cumbria River Restoration Strategy in 21 the 2020/21 financial year to be directed to SCRT project management time and expenses. Low Risk Barriers Environment Agency funded project to identify and remove small, redundant weirs and barriers within the rivers and becks of south Cumbria. Windermere Water is Life Environment Agency funded feasibility project to identify sites in the Windermere catchment where reactive gravel pilot studies can be conducted on septic tanks. Reactive gravels are a generic media with phosphate absorbing properties used to reduce phosphate levels in septic effluent to the water environment.

Page 20

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

12. Statement of funds (continued)

Coniston Mines Environment Agency funded feasibility study to identify and quantify copper hotspots around the mines at Tilberthwaite and Greenburn. Alongside monitoring, optioneering will be undertaken to identify possible solutions to reduce and mitigate the metal contamination. WEG Bowston Wier & WEG A Natural England project funded through the Water Environment Grant to Burneside Mill Race de-silt remove a redundant weir structure on the River Kent SSSI/SAC to improve the natural functioning of the river and the status of the SSSI unit in which it sits. This is a grant project claimed in arrears. A Natural England project funded through the Water Environment Grant to remove 450-600 cubic metres of silt to safeguard the River Kent SSSI/SAC against potential catastrophic liberation into the main river and to develop an ongoing management plan. This is a grant project claimed in arrears. WAMM Volunteer Hub Funding through The Rivers Trust Life “Natural Course” project to support Morecambe Bay volunteer coordination impacted by Covid difficulties in partnership with Lune and Wyre Rivers Trusts and the Morecambe Bay Partnership. Eels BAE A project funded for by BAE systems barrow to mitigate against their impacts on migratory Eels. This is a trading project. Eels United Utilities Work funded by United Utilities to mitigate against their impacts on migratory Eels. This is a trading project. RRS Longsleddale A River Restoration Strategy focussed in the Longsleddale valley on the River Sprint. This project will be multi-year building on each year’s actions. This is a grant based project paid ahead of delivery. RRS Lambrigg A River Restoration Strategy focussed on Lambrigg Beck, River Kent. This is a grant based project paid ahead of delivery. Eels in the Classroom BAE funded to deliver a community engagement project around the importance of eels, their conservation status and lifecycles. The main focus of the engagement will be school age children at a number of local primary schools and will involve the children caring for their own tanks of eels and later releasing them into the rivers. This is a grant based project paid ahead of delivery. RT Life Natural Course This project focusses on the facilitation, development, design, delivery education, engagement market analysis, and wider strategy for remediation of phosphorus issues in the Windermere catchment and beyond. This is a grant based project, paid for in arrears. RRS Cowan Head 2021/22 Development of a weir removal on the River Kent SAC and SSSI. This funding will be used to keep moving the removal of cowan head forwards. If successful, additional funding will be found to deliver the improvement works. If an impasse is reached, any remaining funding will be used to develop other similar projects in the same target area.

Page 21

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

12. Statement of funds (continued)

Education & Engagement Work Working with local schools and community engagement across South Cumbria E-Fish Salmon Rivers Electrofishing (fish surveys) on priority salmon rivers in South Cumbria, including surveys, data analysis and reporting. A partnership approach between National Rivers Trust, Environment Agency and local Rivers Trusts with priority of salmon rivers in their area. RRS Dubbs Beck Funding support towards the restoration of Dubbs Beck SSSI. This funding helped to support the R4Ever Life Kent project. Surplus will be used to continue works in the Dubbs beck area or support other work within the R4Ever Kent program. Roudsea Restoration Partnership Funding to scope, develop and plan a series of habitat and river improvement schemes in partnership with the Natural England nature reserves team. AA Floods Flood modelling and nature based solutions development. This is part of a wider European project lead by the national Rivers Trust; South Cumbria Rivers Trust and supporting with work in South Cumbria. Windermere Community Partnership Development of a community partnership within the Windermere and – Garfield Weston Leven catchment. SRCT host the catchment based approach, this project supports the community element within the Windermere catchment, drawing together volunteer opportunities, wider engagement opportunities and sharing expertise and knowledge across the catchment. RRS Midale & Well Foot 2023-24 RRS Project to restore the river along 300m of the River Sprint in Longsleddale. Costs to develop the project have been incurred. These should be recovered by a successful funding bid to the EA RRS program. If problems occur with the 23-24 programme, there is a surplus in RRS Longsleddale to cover the loss. This is also agreed in the RRS Longsleddale grant agreement. RRS Sadgill 2023-23 The Sadgill RRS project in a direct supporting link to the RSPB wild haweswater scheme. SRCT are assisting with the Longsleddale community engagement, River monitoring, work up and development to achieve a full costed, agreed, and permitted scheme for 2025. Natural Flood Management (NFM) NFM is a DEFRA initiative that funds projects to store and slowly release flood water to help protect communities at risk of flooding. Natural Flood Management additionally aims to mimic natural processes and provide environmental benefits.

Page 22

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

12. Statement of funds (continued)

Cool Rivers Project focussed on surveying rivers for the presence and density of trees. This is specifically focussed on mitigating the warming effect of climate change on rivers. Any surplus funding from the survey work or staff time will be used to plant trees alongside the areas of riverbank identified as needing improvement for climate change resilience. CaST Catchment Systems Thinking is a grant funding scheme run by United Utilities. This project focusses on the restoration of reed beds around Windermere and community engagement. This project is grant funded and paid for in arrears by quarterly claims. LIFE R4Ever Kent This is a five year EU funded project led by Natural England. LIFE R4Ever Kent Project plans to R estore and R evive the River Kent SAC, so that species and habitats can R ecover, thus making the designated features more R esilient to environmental pressures. Coniston & Crake Catchment Habitat improvements and equipment and training support for volunteers. HLF Phase 2 To deliver a combination of habitat improvement and community engagement projects through to June 2020. CFINNS Cumbria wide strategic coordination of actions for invasive non- native species. DEFRA WFD LAG INNS control work/ awareness / equipment throughout Cumbria funded by DEFRA. Goose Management Control of invasive Canadian geese on Windermere’s islands. Kent Invasives Support of invasive control in the Kent catchment. Windermere Invasives Species Support of invasive control in the Windermere catchment. Group NE Overwater Crassula Survey the extent of Crassula helmsii and consider solutions for control/eradication. NE INNS Control Control work of INNS at Bleham Tarn, Esthwaite Water, Little Langdale Tarn, Elterwater, Kent catchment. Awareness of INNS throughout Cumbria. Grasmere Invasives Reserved project funds specifically for training, equipment and contractor costs for invasive species control within the Grasmere catchment. Duddon River Association Habitat improvements and equipment and training support for volunteers. DRA – Black Syke Habitat improvement projects for the Duddon.

Page 23

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

13. Defined contribution pension scheme

Contributions payable by the company for the year 2022
2021
£
£
14,320
11,695

14. Capital commitments

There were no capital commitments at 31 December 2022 or 31 December 2021.

15. Operating lease commitments

At the reporting date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Land and Buildings
Within one year
Between two and five years		 2022
2021
£
£
-
7,170
-
-
-
7,170

16. Contingent liabilities

There were no contingent liabilities at 31 December 2022 or 31 December 2021 other than a general obligation to repay grants where the agreed services are not ultimately provided.

17. Taxation

As a charity, South Cumbria Rivers Trust Limited is exempt from tax on income and gains falling within sections 472-474 of the Corporation Tax Act 2010, section 478-489 of the Corporation Tax Act 2010, or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

18. Analysis of Net Assets Between Funds

Unrestricted funds
Restricted funds
Total funds		 Fixed Net current
assets
assets
2022
£
£
£
4,545
293,599
298,144
-
274,545
274,545
4,545
568,144
572,689

Page 24

SOUTH CUMBRIA RIVERS TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2022

18. Analysis of Net Assets Between Funds ( continued)

Analysis of Net Assets Between Funds(continued)
Unrestricted funds
Restricted funds
Total funds		 Fixed
Net current
assets
assets
2021
£
£
£
227
293,952
294,179
-
207,666
207,666
227
501,618
501,845

19. Related Parties

The Clock Tower Partnership is owned by Julius Barratt which in turn owns the Clock Tower Development from which the trust operates. Julius Barratt is also a Trustee of South Cumbria Rivers Trust Limited. Rent of £14,340 (2021 - £14,340) was charged at market rate.

In the year no expenses were reimbursed to the Trustees (2021 - £Nil).

20. Control

No single individual has had control of the company in the current or previous year.

Page 25