Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 Company No: 05763380 Charity No: 1114682 SOUTH CUMBRIA RIVERS TRUST LIMITED IA COMPANY LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED CONTENTS Pages Reference and administrative infomiation Report of the Trustees 24 Independent examinerfs report to the Trustees statement of financial activities Balance sheet Slatement of cash flows Notes to the financial statements 1 (k25
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED REFERENCE AND ADMINISTRATIVE INFORMATION (Registered Company Number.. 05763380) (Registered Charty Number.. 1114682) TrusteeslDirectors Lord Cavendish of Furness DL (President) D Devenish (Chair) A Gardner Iwice Chair) DPR Knight (Treasurer) CH Bagot JA Barratt SA Benn J Cleaver Dr RA Sweeting (Resigned 11 June 2024) N Wilkinson MBE TD Griffiths (Appointed 11 June 2024) R Hines {Appointed 11 June 2024) D Kelly (Appointed 11 June 2024) Registered Office South Cumbria Rivers Trusl Limited The Refinery The Clock Tower Business Centre Low Wood Ulverston Cumbria L412 8LY Independent Examiner Jenny Mccabe FCA MHA Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL Page 1
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and the financial statements of the Trust for the year ended 31 December 2024. The Trustees have adopted the provisions af the Statement of Recommended Practice ISORP} 'Accounting and Reporting by Charities" (FRS 1021 in preparing the annual report and ffinancial statements of the Trust. The financial slatemenls have been prepared in accordance wf(h the accounting policies set out in Ihe notes lo the accounts and comply with the Trust's goveming document, the Charities Act 2011 and Accounting and Reporting by Charrties.. 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 organisalion is a charitable company limiled 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 charttable company the liability of the members is not to exceed £10 each. Trustees of the Charity The directors of the charitsble company are its Trustees for the purposes of charty 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 rtrelection 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 pandernic, 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 posilive 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 lo 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 ne$sary, rehabilttate 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, SOCIeConoMiC 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 lo promote this and has also renewed the website and used social media to good effect. Page 2
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees confirm that they have referred to the general guidance on public benefit issued by the Charity Commission when reviewing and planning the Trust's aims and objectives. Volunteers continue to be an important part of the Trust's work. The Trustees are all volunteers and give generously of Iheir lime in Iheir 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 onty to undertake important work for the Trust, but also to educate the community about the work of the trust and the need for habitat improvement. Achievements, Perfomiance, Financial Review and Future Proposals The Trust work this year was well spread throughout all our catchments. providing good projects for habitat restoration in all areas. It was pleasing the Landscape Recovery project in the Duddon is doing some much needed work in this more isolated area. Also we have been working on an exciting eel projecl on the Furness Peninsula with the help of BAE Systems and Unrted Utilities. Our work on the Kent SSSI catchment continues with the Life R4Ever project which has help support the River Restoration Partnership Project. The future of the later is now in doubt and so we have been looking at alternatives to this for the future to support the Lrfe project. We have continued to support the Love Wndemiere Partnership and with national interest currently on Windermere, we feel this will reap benefits in the future. The current Govemment has promised support and so we are encouraged by this. Our lotal income from all sources was increased from the previous year increasing 10 £653.281 and so up by £129,477. Part of this was due to the increase in the interest received from the bank by better use ofthe money markel accounls on the eXsS funds, but the majority was due lo increased funding projects. Equally this was put to good use and the expenditure on the projects went up significantly to £683,816. leaving a deficit for the year of £30,535. Some ofthis has come out of core funds and some out ofthe restricted funds balance. As a result the total funds held at the year end declined slightly to £562,180. This is likely to continue as we transition away from projects paid up front to more projects claimed retrospectively. We have been continued to work on our reactive media project. which we work closely on with United Utilities. Though application for funding for this opportunity has not been forthcoming, we have agreed to proceed wilh this irrespectively and are looking to start a project that should be self-financing and provide the additional tesling we require. As a result, we have set up a new limited liability company called Lakes and Rivers Environmental Services Ltd, which is wholly owned by South Cumbria Rivers Trust Limrted, to run as a subsidiary company and also a trading arm of the Trust. We are looking to make this operational by the summer of 2025. 2024 year end saw the retirement of our Director, Peter Evoy, after 14 years. He has helped steer the Trust into a much more secure and sustainable organisation and overseen some exceptional project work during that period. We wish him well in his retirement. We have since taken on a new manager and look forward to the next phase of the Trust's growth. Reserves Policy Free reserves represent the 'working capital, of the Trust available to support short and medium term objeGtives and lo safeguard against unexpected decreases in income. The Charity Commission guidelines define free reserves as income, which becomes available to the Trust and is expended at the Trustees, discretion in fvrtherance of any of the Trust's objects, but is not yet spent, committed or designated. Page 3
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves Policy (continued) The Trustees have examined the needs and challenges faced by the Trust, in both the short and medium term, along with relevant financial forecasts, and have formulated a policy to meet those needs. Free reserves are calculated as unrestricted funds less designated funds less tangible fixed assets. The Trustees have a policy to monitor free reserves, as well as funds available to the Trust to run the projects. The policy held by the charity ensures we have sufficient free reserves to run the charity for three to srx months should the resources be expended. As at 31 December 2024, free reserves increased to £321,136 and so this well exceeds the parameters of the policy. Investment Policy Under the Memorandum and Artides of Association. the Tnjst has the power to invest surplus funds where the Trustees deem appropriate. 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 wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, whiGh 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 (x)mpany for that period. In preparing these financial statements, the Trustees are required to= select suitable accounting policies and then app them consistenlly., observe the methods and principles in the Charities SORP 2019 (FRS 102)- make judgements and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial statements- prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the Trust will continue in operation. 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 hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. By order of the Trustees DPR Knight Treasurer Date.. May 15, 2025 Page 4
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 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 2024 which are set out on pages 6 to 25. Responsibilities and basis of report As the charity Truslees of Ihe 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'l. 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 Diiections given by the Charty Commission under section 145{5)Ib} of the 2011 Act. Independent examinerfs 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 l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I Confi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 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 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement Ihat the accounts give a 'true and fair wew. which is not a matter considered as part of an independent examination., or 4. the accounts have not been prepared in accordance wtth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Jenny Mccabe FCA MHA Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria Date: May 20, 2025 Page 5
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expendtture Account) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Total Total funds funds funds 2024 funds 2023 Note Income from- Donations and legacies Charitable Actiiltes Perfonnance lated gTrnts Sales of gocxys and senqces InStMentS 10.535 32,976 43,511 21,196 29.287 179,034 23,341 348.832 29,276 378.119 208,310 23,341 334,817 156,296 11,495 Total 242,197 411,084 653,281 523,804 Expenditure on: Raising funds Charitable actlmties 149 503,629 231.709 452.107 683.816 Total 231.709 452.107 683.816 503,778 Net rpluS or (deficit) before transfers 10,488 (41,023) (30,535) 20,026 Transfer between funds {824} 824 Net movement in funds (40.199) (30.535) 20,026 Reconciliation of funds Total funds brought forward 314,914 2TI,801 592,715 572,689 Total funds carried forward 18 324,578 237,602 562,180 592,715 Page 6
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed Assets Tangible assets 3.442 4,820 Current assets Debtors Cash at bank and in hand 103.443 675.918 138,510 784,392 779.361 922,902 Creditor& amounts falling due within one year (220,623) (335,007) Net current assets 558,738 587,895 Net assets 562,180 592,715 Funds: Unrestricted fvnds Restricted funds 10 11 324.578 237.602 314,914 277,801 Total funds 18 562.180 592,715 Page 7
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED BALANCE SHEET (continued) AS AT 31 DECEMBER 2024 For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476- The directors acknowledge their responsibilities for complying wtth the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. May 15, 2025 These accounts were approved by the directors and authorised for issue on and are signed on their behalf by.. Jéjgv DPR Knight (Treasurer) D Devenish (Chair) Company Registration Number. 05763380 Charity Number: 1114682 Page 8
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Reconciliation of net income l (expenditure) to net cash flow from operating activities Nel {expendilure) l income for the year Depreciation of tangible fixed assets Decrease l {increase) in debtors (Decrease) l increase in creditors 130,5351 2.009 35.067 (114,3841 20,026 1,605 (55,2221 17,289 Net cath flow from operating aclivities (107.843) 116,3021 Cash flow from inve*ing activities Payments to acquire tangible fixed assets 1631) (1,880) Net cash flow from investing activities (631) {1,880) Net (decrease) in cath and equivalents (108.474) 118,1821 Cash and cash equivalents at 1 January 2024 784,392 802, 574 Cash and cath equivalents at 31 December 2024 675.918 784, 392 Page 9
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 ents'ty as defined by FRS 102. The financial statements have been prepared in accordan wrth Accounting and Reporting by Charities= Statement of Recommended Practice applicable lo chanties 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 defintlion of a public benefit entity under FRS 102. Assels 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 steding, which is the fvnctional 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 Activtties (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 lo be recognised the charity will have been nolffied of the amounts and the settlement dale in wrrting. If there are conditions attached lo 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 fvlfilled. 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 gifl 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 IFRS 102). Income from trading activities indudes 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 entttlement has occurred. Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the charity., this is nomally upon notrfication of interest paid or payable by the Bank. Going concem 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 conts'nue to adopt the going conrn basis of accounting in preparing the financial statements. Page 10
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accounting Policies {continued) Fund accounting Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtheran of the general objectives of the charity- Restricted funds are fvnds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the charty 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 aggregale all costs related to the category. Expenditure is recognised where there is a legal or constructive obligalion to make payments to third parties, it is probab 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 Motor Vehicle Straight line over 3 & 5 years Straight line over 4 years 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 Wlth 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 chartty has a present obligation resulting from a past event that will probabty result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliabty. 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 trom those ofthe charitable company in independently administered funds. Government grants Government grants are recognised at the fair value of the asset reiVed or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. Page 11
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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. 2024 2023 Surplus is stated after charging.. Operating leases - propety Depreciation Independent examination fees 14,420 2,009 6,100 14,420 1,605 7,275 3. Investment income Total 2024 Total 2023 Bank interest receileble 23.341 11,495 4. Total expenditure Staff costs Other costs Total 2024 Cost of raising funds Expenditure on charitable actlTr4ities 259,335 424481 683,816 259,335 424,481 683,816 Staff costs Other costs Total 2023 Cost of raising fijnds Expenditure on charitable actiNities 149 266,564 149 503,629 237,065 237, 065 266,713 503.778 Page 12
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Other costs are made up as follows 2024 2023 Project materials and costs Fundraising costs AdKertising and leafiets Premises costs Molor expenses, tra1 and subsistence Printing, postage and stationery Telephone, intemet and computer costs Insurance Legal and professional costs Accountancy Depreciation Disallowed VAT Miscellaneous expenses 324.245 190,919 149 560 24,662 11,012 244 8,732 4,051 7,810 7,275 1,605 4,198 5,496 149 18.790 10,317 146 14.455 5,146 27.657 6.100 2.009 8.528 6.939 424,481 266,713 Of the £683,816 expenditure in 2024 (2023= £503.778}. £231.709 was charged to unreslricted funds (2023.. £130,241) and £452,107 to restricted funds (2023.. £373,537). wrthin the total expenditure are governance costs of £5,591 {2023'. £6.182) which are now included within unrestricted expenses and comprise staff costs of £2,541 (2023.. £2,544) and other costs of £3,050 (2023.. £3,638). Page 13
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 5. Anatysis of Support Costs Total Total Salary Adm in 2024 2023 Fxperitrnce th& Flver Djbbs Beck 457 383 695 138 nderwere P£fctionS PEstore the Shore Fèver Kent SSSI FlpaTian Vot CatchrrÉnt Base Approach FsU)w aite CatchrrÈnt bn)roveThont nster & &l)in Fkbitat l)provenEnts Fknsknnd Fbol 2 WAbMA Kknrecarrtje Bay Tesco Love Fer Eels BAE 826 1,812 1.060 24.939 4.614 1.387 571 479 13.567 2.510 755 11.372 2.104 632 15.581 3,183 3.786 200 3.174 167 6.960 367 4.267 2.114 3.(MO 579 1,772 2.548 488 3.886 5,588 1.06S 917 2,811 7.773 715 RRS LongSddale FIRS LarT)rug Eèls in aassroom 499 418 3.636 24.022 9.760 238 RT LIFENatural G)urse 3.886 1.997 3.257 1.674 7.143 3,671 Ffis Cow an Fad 2021122 EKluCatn & Engagerrent )rk lish Sakmn F4vers $50 461 961 Roudsea PtsSt0ran PartrrshIp AA Floods nderwere Connty Partnership- GarfEIJ WÈston FIRS & WÈI Foot 202>24 83 182 442 4.886 1.745 3.660 4.096 1.463 3.068 8,982 3.208 6.728 23.767 1.395 3.815 508 FIRS Sadgl 2022-23 ske ith Flh)t RT Farm Facilitatb?n FIRSILrfe Bf Fkjwe F Barrow Educatv)n 3.321 110 2.784 92 6,106 202 1.583 685 463 757 722 45 FO£S Starnthw aite trEnt futralty Letqhton Beck AONB Reed Revial 373 312 727 609 1,336 2,728 3.852 86 1.484 2.096 47 1.244 1.756 39 ArThnia Sarrp&ng (rt)rk8 Rivers Trust aoser VrJ.j Feasbilty SIaY NFM 1,285 1.035 703 589 1.292 F Kendal Tow n VEW 459 385 Borrans F4antation 95 79 174 FM Reston Scar Fhase 1 276 231 507 6.640 79.236 1.941 1,742 681 LFE R4er Kent 59.210 1.072 49.631 898 108.841 1.970 LF Fhase 2 Kent knvashies V41ndertre knvasnie SpecEs Group WfinderrTEre c(K)rdnator 121 102 223 1.486 835 1.246 700 2.732 1.63S 1.024 22 Low er fAJddon Pdrtnership project Djddon RNer Association 557 467 119.720 100.349 220,069 198.161 Page 14
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Directors and employees 2024 2023 Employee costs during the year Wages and salaries Social security costs Pension costs 224,135 15.607 19,593 207,750 14,374 14,941 259,335 237,065 The arage number of employees during the year was as follows: Full time Part time There were no employees receiving more than £60.000 in the year (2023 Nil). The directors received no remuneration or reimbursement of expenses during the year from the company {2023'. £nil). The directors of the company are shown on page 1. Tangible fixed assets Computer Equipment Equipment Motor Vehicles Total Cost At 1 January 2024 Additions Disposals At 31 December 2024 21.737 11,339 631 5,795 38,871 631 21,737 11,970 5,795 39,502 Depreciation At 1 January 2024 Charge for the year Disposals At 31 December 2024 21.737 9,814 759 2,500 1,250 34,051 2,009 21,737 10,573 3,750 Net book value At 31 December 2024 1.397 2,045 3.442 At 31 December 2023 1,525 3,295 4,820 Page 15
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Debtor5 2024 2023 Trade debtors and accwed income Olher debtors Prepayments 93,996 5,949 3,498 134,531 859 3,120 103,443 138,510 Accrued income relates to grant funding eamed but not yel invoi¢2d al the year end. Creditors . amounts falling due within one year 2024 2023 Trade creditors Taxalion and social security Accruals Defeed income other creditors 19,127 4,642 7.660 185.876 3,318 10,058 14,001 7,300 301,770 1,878 220,623 335,007 Mo*ments in deferred income are as follows: 2024 2023 Balance as at 1 January 2024 Amount deferred in year Amount released to income eamed from charitable actiNities 301,770 265.495 150,876 266,770 (266,770) (230.495) Balance as at 31 December 2024 185,876 301.770 10. Unrestricted funds At 1 January 2024 Net incoming resources for the year Transfer to restricted fijnds 314,914 10,488 {824) At 31 December 2024 324,578 Page 16
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 11. Restricted Funds I1.24 31.12.24 E%perEnGe thp Flver Fèver Hy Partnership DJbb5 Beck 4.386 261 4.794 40 (1,4971 125> 2.838 4,794 619 Wnderyrere Reflectns- RTS Kent SSSI RparLan htsnagenrnt CAtchttent Base Apprcpach Estlwwite trTpr<wetrErt Sub5ol Mwna9errEtrt PA55e5 nster & <¥lwn trrwov'trts 2.470 11.127 (1.851} (3.632) {27.#88} 15.198) 13.469 5.481 7.$43 228 22 11.474 <11.287} {1871 1.052 10.009 1,062 2.014 407 (6.045) {179} {367} Tésco Ltsvè Flvar 1.230 EnviratéÈh 2.776 345 3.OS6 326 F5&E FIRS Long51edda 25.326 <25.326) <11.0061 (1.208} (1.249) (7.827} (7.120) (1.086) 23.214 {4781 11,7SO 1.208 In Cxassroom 2.651 1.402 16.5271 24.778 RT LFENatura rse FIRS an 2021122 31.898 flsh SalYrL)n Favers 478 F¥iS 8eck 4.349 4.349 FicxYsa PSoratn Par1rship AA 1.34D 11.343} 3.417 3.417 {S891 {6211 WnderttEre WnEf5Fwp- W5 FIRS 20Z>24 a.3 2.100 {10,B321 {4,09$1 17,4041 (4.095} 3,475 FIRS 2022Q3 41.245 13.107 255 (25.3371 8.351 9,012 266 {48,4771 8.461 2.73B 5.190 649 11.183 402 2,660 2,039 3.179 2.823 1.192 13.7115 8.198 26.936 2.102 11.2851 LFEFI4er Kent 139.475 {162.615} 100 FLF Fhasè 2 (1.984} S.190 Kent knv&51ve5 nderttEre knvasNe SpeGie5 Group E(>•erwater Cra55U 11.183 625 {223} Contr ddon AssoCtn DPA. Black Syke Skrth Flk 4.014 {1.975} 135) (1.024) 3.214 3.797 1.152 Fif Farm Factaln 1D.530 1 1.(XK) (7.515} 1651 12031 11,9281 {23.B201 (7,093) FIRSILrfe Flver FIRSILrfe BF Fknve F Bgrruw 1.455 20.115 2,515 1,613 7,093 2.128 30.136 42211 FVer5 Trust 5r V)r19 Fea51)*y St FIRS Fencvg Fel Brewery FIRS Slarnthwaite 60T 2.371 {685} {42.329} (2.849) 11.336} 12,742} 13,597} 186} {45.24Q} (1,3831 29,461 Defra Landscape 0¥Y Costs nderEre tsordlnater 118 2.885 S.OJ6 2.622 3958 L8wJhton BkAats 2742 44 184 40.187 A Sarfpbn Duthon Partnarshl) Fyofttt Reartwe Medi 88 45 920 680 ii,a831 237.602 277.801 41 1,0$4 {452,10n 824 Page 17
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 11. Restricted Funds (continued) M•v•m•nt in r•s•uro•s BA14nce Balance 01.0123 Inwming tgoinH TTansf•r 31.12.23 Experience the Flver Fiver Fly Pathership rknbbs Beck d9rrtwe RefbcknS- Kent SSSI Flparian Thranager1 CatehnEnt Base ApKmach Esthwaite tChrInt rprQvent SubscAI nageent CPAF Wnderryre Eel Passes FSCFA Wnster & Glpin Pkbitat brprov'rrts Rusbnd FI 2 5.126 281 (7091 4396 281 4.932 2.470 12.614 11381 4794 2.470 11.127 13.469 7.643 106 22.288 117.È791 7.643 $07 228 I7) 228 1S931 1.441 1.845 172 {3.286) (1751 1.052 16.191 1.052 10.009 586 566 WANW hknrecantr Bgy Ftsll FarrD FP Tesco Love RKwer 16.1821 virotsrh 2.TT6 425 Z.776 346 WAfvwVdUnt Hub (801 14,7121 {9.141) 15.6821 14,7451 {29.294) {11.2421 (7431 (9771 EÈ& BAE 4.712 FRS Lorbgskdda RRg Lartrug 49.124 116.7691 23.214 5.682 7.396 2.661 RT LIFEWural C(yJrse 25.024 4.270 RRS Cowan 2021122 ucatr>n & erEnt IAtrk &fish Salrrun Flver FIRS txjbbs Beck 43.140 723 31.898 608 13.362 4S8 (9.L¥JOI 4349 Rtsudsea REsttration Partnership AA Fk)ods 14551 (3331 {27.9701 13.3081 {44.8311 (508) (4701 (7361 {2.3441 (451 11,2851 {23.891) 3.750 3.417 8.363 erryre cnitY Pather¥hip- Garfj Vslon FIRS & IAÈI 202&24 3.308 69.307 1.700 RRS Sadgll 2022123 SkeTrNith Hk>t 16,769 41.245 1.192 10.S30 8.264 26.277 1.466 20.116 RT FarmFaeilrtati FIRSILLF Flver (kn4an 9.oc RRSILrfe Sf SJF Barr(yN Educat 28.621 1.500 19.400 23.891 2.371 bria Rwers Trust Cbger F&•skYty St BRS FerKing Fel Brewery RRS Starnthwaite 2.000 Z.371 12.2201 11,0781 {9.9231 14.185 13.107 tkfra Landscape Recovery F*Jt- Costs Cool Pivers Casr 9.923 255 255 <3.647) <8.5251 7.233 118.171 {9.717) 1134.9831 13211 {1.996) 6.131 LFER4er Kent Ctsniston & Crake Catchrrent IC£ PLF Fknase 2 ¢INNs 126,3371 8.361 4722 4190 6.397 5.19D 350 {291 649 12.587 Keni hvasives de[re knvaswe Species l>oup (e[Water Crassuk FE WNS Ctsntrc4 WndemEre INNS QFordnator rthdcjn Rjver AssociatKJn 351 11.7551 (6811 11.183 626 2.580 4014 2.885 4.014 5.LKIO {2.115) 16.0571 1.545 11.5451 tFA- Syke 5.342 3.797 274,545 361,828 1373.5371 14,965 277.801 Page 18
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 12. Statement of funds Experience the River Develop the interest and understanding of our freshwater aquatic enwronment 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 andlor Freshwater Pearl Mussels (FWPM) benefits. Windemiere Reflections- RTS Habitat improvements of Windemiere's shoreline. Kent SSSI Riparian Management To improve the effects of difftise rural pollution, specifically sediment inpuls. to the River Kent & Tributaries SSSI through the use of soft engineering bank repair techniques. Catchmenl Base Approach Support for Catchment Hosting of Ihe KenULeven RBD catchment and joint hosting ofthe River Duddon (SW Lakes RBD catchment). Esthwaite Catchment Improvement Habilat improvement works in the Ir(toral zone of the lake. Subsoil Management Management of an agricultural asset to reduce soil compaction. Eel Passes A project to raise awareness amongst the public of the endangered European eel and the improvements to eel passage work conducled by South Cumbria Rivers Trust. Winster & Gilpin Habilat improvements To determine the current ststus of each watercourse in relation to rts ecology and habitat and where needs are identified, implement appropriate restoration and remediation options to allow recovery. Bela Projects This is a project to assist the return of the river to a more natural function by installing flow deflectors on an over widened seGtion. 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 Nemork and the Catchment Based Approach Catchment Partnerships. The pilot is based around Morecambe Bay and includes SCRT, Lune Rivers Trust. re 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. 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 Ihe river and improve a siltlfaecal contamination source. This is funded through the Environment Agency s Fisheries Improvement Fund Page 19
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 12. Statement of funds (continued) Tesco Love My River Funding from Tesco's -Bags for help promo to aid engagement and education of the public and connection wf(h their riverslwater courses. Envirotech Funds donated to SCRT spectfically to support habitat improvement projects. WAMM Volunteer Hub Funding through The Rivers Trust Life °Natural Course. project to support Morecambe Bay volunteer coordination impacted by Covid drfficulties in partnership wilh 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. RRS Longsleddale A River Restoration Strategy focussed in the Longsleddale valley on the River Sprinl. This project will be multi-year building on each yearfs actions. This is a grant based project paid ahead of delivery. RRS Lambrigg A River Restoration Slrategy focussed on Lambrigg Beck, River Kent. This is a grant based project paid ahead of delivery. Eels in the Classroom BAE Systems 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 Iheir 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 2021122 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. E-Fish Salmon Rivers Electrofishing {fish surveys) on priority salmon rivers in South Cumbria, including surveys. data anatysis 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 lo support the R4Ever Life Kent projecl. Surplus will be used lo conts'nue works in the Dubbs beck area or support other work within the R4Ever Kent program. Page 20
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 12. Statement of funds (continued) 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. Windemiere Community Partnership Development of a communtty partnership within Ihe Wndermere and Garfield Weston Leven catchment. SRCT host the catchment based approach. this project supports the communty elemenl 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 wtth the 2&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 engagemenl, 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 beneffts. Cool Rivers Project focussed on surveying rivers for the presen and density of trees. This is specifically focussed on mitigating the warming effect of climate change on rivers. Any surplus fvnding from the survey work or stsff time will be used to plant trees alongside the areas of riverbank identified as needing improvement for climate change resilience. LIFE R4Ever Kent This is a five year EU funded project led by Nalural England. LIFE R4Ever Kent Project plans to Restore and Revive the River Kent SAC, so that speaes and habitats can Recover. thus making the designated features more Resilient 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. Page 21
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 12. Statement of funds (continued) CFINNS Cumbria wide strategic coordination of actions for invasive non- native species. DEFRA WFD LAG INNS control workl awareness l equipment throughout Cumbria funded by DEFRA. Kent Invasives Support of invasive control in the Kent catchment. Windermere Invasives Species Group Support of invasive control in the Imndermere catchment. NE Overwater Crassula Survey the extent of Crassuia helmsii and consider solutions for controveradication. NE INNS Control Control work of INNS at Blelham Tarn. Esthwaite Water, Little Langdale Tam, Elterwater. Kent catchment. Awareness of INNS throughout Cumbria. Duddon River Association Habitat improvements and equipment and training support for volunteers. DRA- Black Syke Habitat improvement projects for the Duddon. Skelwith Pilot Project funding to support communty uptake of septic lank operation and maintenance. RT Farm Faciliation A Rivers Trust funded project to engage farm holdings in the Duddon, Poaka and Kent catchments to protect and improve habitats, ecology and waler quality. RRSILiffr River Gowan River Restoration Strategy and Life project funding to restore the River Gowan. RRSILife Elf Howe River Restoration Strategy and Life project funding to restore the River Kent. SJF Barrow Education Sir John Fisher ftjnding to promote engagement and education principally among schoolchildren in the Barrow area. Cumbria Rivers Trust Closer Working Feasibility Study A feasibility study into opportunities to collaborate more effectively with other rivers trust active in Cumbria. It is principally funded by the Swire Charitable Trust with contributions from West Cumbria, Eden and South Cumbria Rivers Trusts. RRS Fencing Funding to support the delivery of riparian fencing within the River Kent catchment. Fell Brewery Corporate sponsorship of SCRT by a local business. Donations made at intetvals based upon the sale of Ghyll bitter. RRS Starnthwaite A project to scope and deliver the removal of Starnthwaite weir on the River Gilpin. Defra Landscape Recovery Pilot A DEFRA funded project administered through Leeds University to scope Costs and deliver habitat improvement works within the Duddon valley. Page 22
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Windermere INNS C( ordinator Donations from prtvate individuals to support SCRT'S coordination and control of invasive species in the Windermere catchments. Nutrient Neutrality Engaging communtties and schools through a series of workshops and activities about nutrient neutrality in two zones- Esthwaite Water and River Kent (Grayrigg and Ings) Delivering work on behalf of Lake District National Park Authority (LDNPA) and in conjunction wilh Eden Rivers Trust IERT). Leighton Beck ANOB Optioneering and farrnilandowner engagement for river restoration on Leighton Beck Reed Revial Restoration of reed bed sites around Windermere Ammonia Sampling Preparation of tender bid for a 12_month ammonia sampling programme across SoLrth Cumbria offered by UKCEH Lower Duddon Partnership Project Partnership project with Sustainable Duddon, Red Squirrel Group, Cumbedand Council and SCRT for restoration of the lower Duddon. Acb'vities to include tree planting, water qualty monitoring and invasive species removal. Reactive Media The Reactive media work will be falling within our trading subsidiary work when we take the next steps wrth our project partners. This projeGI aims to upscale and deploy innovative bolt on technologies, developed in house by SCRTILRES to tackle phosphorus pollution of water environments from a variety of sources including private sewage systems and agriculture. The work currently has tight Intellectual Property protection around it. CPAF Windermere Restoration of Windemiere's reed beds and habitat improvement in Little Langdaie to improve habrtat for FWPM. FSFCA Measures to improve fisheries within South Cumbria. Rusland Pool 2 This is a habitat improvement project that is involved with the de culverting of a watercourse wrthin the Rusland Valley. This project is funded through the Environment Agency s Fisheries Improvement Fund. Education & Engagement Work Working wrth local schools and community engagement across South Cumbria Skelwith Pilot Project ftjnding to support community uptake of septic tank operation and Maintenance CaST Calchment 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 quarterty claims. Page 23
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 13. Defined contribution pension scheme 2024 2023 Contributions payable by the CLMnpany for the year 19.593 14,941 14. Capital commitments There were no capital commitments at 31 December 2024 or 31 December 2023. 15. Operating lease commitments At the reporting date the Charity had outstanding commttments for fvture minimum lease payments under nOn-CanlIable operating leases, which fall due as follows= Land and Buildings 2024 2023 Within one year Between two and five years 10,214 14,420 10,214 24,634 10,214 16. Contingent liabilities There were no contingent liabilities at 31 December 2024 or 31 December 2023 other than a general obligation lo repay grants where the agreed servi$ 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 472474 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 Fixed Net current assets assets 2024 Unrestricted funds Restricted funds 3,442 321,136 237.602 324,578 237.602 Total funds 3.442 558.738 562.180 Page 24
Docusign Envelope ID.. 32AF8CEE-D31fAAD246tMCA953C5DA69 SOUTH CUMBRIA RIVERS TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 18. Analysis of Net Assets Between Funds (continued) Fixed assets Net current assets 2023 Unrestricted fvnds Restricted funds 4,820 310,094 2TT,801 314,914 277,801 Total funds 4,820 587,895 592,715 19. Related Parties The Clock Tower Partnership is owned by Julius Barratt which in tum owns the Clock Tower Development from which the trust operates. Julius Barratt is also a Trustee of South Cumbria Rivers Trust Limited. Rent of £14,420 (2023 - £14,420) was charged at market rate. In the year no expenses were reimbursed to the Trustees (2023 - £Nil). 20. Control No single individual has had control of the company in the current or previous year. 21. Subsidiary The charity owns the whole issued share capital of Lakes and Rivers Environmental Services Ltd (Company Number.. 15832925), a company registered in England. The subsidiary is domiant with the intent to trade in the future. Page 25