2025-09-30-accounts

Frank Water Projects

Report and unaudited financial statements 30 September 2025

Charity no: 1121273 Company no: 05580994

Frank Water Projects | Report and unaudited financial statements | 30 September 2025

Contents		Page
1. Trustees’ annual report		1
(a)	Reference and administrative details	2
(b)	Objectives and activities	3
(c)	Achievements and performance	4
	(i) Systems Strengthening	7
	(ii) Collective Water Stewardship	13
	(iii) WASH Tapp	15
	(iv) Education, Awareness & Advocacy	15
	(v) Fundraising	17
	(vi) Future plans	20
(d)	Financial review	22
(e)	Structure, governance and management	22
2. Independent examiner’s report		27
3. Statement of fnancial activities		28
4. Balance sheet		29 to 30
5. Notes to the accounts		30 to 42

Frank Water Projects | Report and unaudited financial statements | 30 September 2025

1. Trustees’ annual report

Frank Water has continued to deliver significant impact in what most charities have seen as being an increasingly challenging economic environment.

We’ve continued with our mission to alleviate global water poverty, enhance health and protect the natural environment through our work both locally and overseas. This work is needed now more than ever before, as 2.1 billion people still lack access to safely managed drinking water and women and girls spend an estimated 250 million hours every day collecting water. We are also entering into an era of what has been termed “global water bankruptcy” which may well come to define our generation. As the climate change crisis continues to deepen and impact on established weather systems - extreme flooding, drought and rising temperatures are causing devastation globally. Water remains key to the solution.

Our comprehensive, community led work at the watershed level continues to embed integrated water resources management and guided careful location of nature based solutions using local expertise. Frank Water’s programme work has rejuvenated natural springs and groundwater reserves, ensuring access to sustainable safe drinking water, as well as enabling better sanitation and hygiene, for communities at the forefront of the water and climate crisis.

The approaches and tools that we’ve continued to develop, enable communities to better understand water and work with their watershed and its natural landscape to improve water availability and quality, empowering them to lead their own development.

Our education, awareness and behaviour change work has reached more people within the UK this year, as well as globally through development of online education resources.

We have provided a water-secure future for over 31,443 people in India and Nepal through our substantive work in the last twelve months alone, whilst 172,000 children have been engaged globally through our online education resources, inspiring them to protect and conserve fresh water locally and through their consumer behaviours, globally.

In parallel, here in the UK we continue to fundraise across a range of fundraising channels, further diversifying our income and building new and long-term partnerships to support our future growth.

We wish to give special thanks to our founder Katie Alcott, who after an incredible 20 years has successfully evolved her role from CEO to Associate Director. Our new Co-CEO’s Jon Shepherd and Claire Williams bring a breadth of experience and expertise in addition to their in-depth knowledge of Frank Water, to shape our sustainable future and lead our organisation into its next exciting phase, starting with our Strategic Review update in 2026.

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Frank Water Projects | Report and unaudited financial statements | 30 September 2025

(a) Reference and administrative details

Registered Name

Frank Water Projects (known as Frank Water or Frank Water Charity)

Charity number

1121273

Company number 05580994 Registered office and operational The Create Centre address Smeaton Road Bristol, BS1 6XN Trustees/Company directors Anoo Jain, Chair Richard Higgs, Vice-Chair Shawn Smith Paula Morcillo De Amuedo Stephanie Hurry (appointed 4 December 2024) Oliver Jones (resigned 14 November 2025) Catherine Sherwood (appointed 14 November 2025)

Principal staff Jonathan Shepherd Co-CEO (from 1 January 2026) Interim Co-CEO (from 12 July 2025 to 31 Dec 2025) Head of Programmes & Funding (until 11 July 2025)

Claire Williams Co-CEO (from 1 January 2026) Interim Co-CEO (from 12 July 2025 to 31 Dec 2025) Head of Operations & Finance (until 11 July 2025) Katie Alcott MBE Associate Director (from 1 April 2025) Chief Executive Officer (until 31 March 2025) Tim Willett Chief Executive Officer (1 April 2025 until 11 July 2025) Bankers Triodos Bank Deanery Road, Bristol, BS1 5AS Matthew Bracher BSc FCA Independent examiner Gravita Chartered Accountants 2nd Floor, South, One Castle Park, Bristol, BS2 0JA

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Frank Water Projects | Report and unaudited financial statements | 30 September 2025

(b) Objectives and activities

Our vision is of a future where everyone, everywhere, has access to resilient water resources for generations to come.

Our mission is to alleviate global water poverty, enhance health, and protect the natural environment. We do this by improving the way that people understand and use water, with a focus on those most in need.

Frank Water is committed to improving the health and wellbeing of our planet and some of the hardest-to-reach people within some of the world’s most marginalised communities living at the forefront of the climate and water crisis. Building community resilience, and supporting nature based solutions for climate change adaptation, we work to ensure equitable and sustainably managed access to water, as well as leveraging holistic water, sanitation and hygiene education (WASH) programmes.

Frank Water’s programmes provide technical and financial support and also invest in developing and implementing water resources management approaches and tools for use and adoption at community, business, watershed, and policy levels. Our programmes are planned around the following strategic areas:

• Systems Strengthening - Collaborating with NGOs across South Asia and East Africa to transform WASH systems, spanning infrastructure, policy, institutions and knowledge-sharing. The ultimate goal is to ensure improved access to WASH for those who need it most.

• Collective Water Stewardship - Using hydrological and social modelling, and water security planning to improve stakeholder engagement (with corporates as key policy influencers) in collective water stewardship in India and beyond, to ensure access to WASH for all.

• WASH Tapp (Training toolkit and App) - Furthering the learning and development work in India, Nepal and Kenya on water security planning (the toolkit) and usage of mobile data collection and analysis (the app).

• Education, Awareness and Advocacy - We are committed to delivering awareness, education and behaviour change impacts at home and in the global north. We do this through education programmes for schools as well as awareness campaigns and behaviour change activities through the activity of our social enterprise (CIC). Our research work with UK university postgraduate students deepens our understanding and connections with our programme work.

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What makes Frank Water different?

We believe in a systems approach which recognises that barriers and solutions to WASH service access involve multiple actors and requires interventions across a number of key areas. These areas include policy & legislation, institutional structures, regulation and accountability, finance, planning, monitoring and learning, and infrastructure development.

Our in-country partners are embedded in the communities they support. This enables us to be led by their needs and share skills and knowledge with existing change-makers within each community. Also, these partners help us better understand the complex stories of marginalisation behind water poverty and insecurity, and they enable us to design and deliver strategies that are scalable and adaptable to different scenarios.

Working with local partner NGOs and international research partners, we develop emergent, adaptive, open-source models and approaches that we advocate to larger agencies and governments, dramatically amplifying our impact.

As a dynamic NGO, we adapt to our changing world. Our Strategic Review being undertaken in 2026 will build on our achievements from the last 20 years to develop our programme work and maintain our financial sustainability.

Public benefit

The trustees have considered the Charity Commission’s guidance on public benefit when reviewing its aims and objectives, and when planning its future activities. In line with guidance from the Charity Commission, the trustees are satisfied that Frank Water continues to have a significant charitable purpose, and delivers very tangible public benefit under our core programme areas.

(c) Achievements and performance

This financial year, the Programmes team continued to make significant strides in implementing Frank Water’s ambitious 2023–2026 strategy. Building on new areas of work developed in recent years, the strategy lays a bold foundation for the future of our programmes and defines our key areas of focus:

● Systems Strengthening

● Collective Water Stewardship

● WASH Tapp

● Education, Awareness and Advocacy

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Frank Water Projects | Report and unaudited financial statements | 30 September 2025

Headline achievements this year across our programmes:

Systems Strengthening

• In 2024-25, through our overseas Systems Strengthening programme, we continued to support the implementation of water security programmes across the Indian states of Uttarakhand, Maharashtra and Himachal Pradesh and concluded our work in Madhya Pradesh, India and the Namobuddha municipality in Kavrepalanchok, Nepal. We reached a further 31,443 people directly and 131,760 indirectly across 41 communities, as well as continuing our work across many communities that we’ve supported over recent years. This means that since 2005 our overseas systems strengthening work has directly impacted over 577,502 people across 830 communities.

Collective Corporate Water Stewardship

• In the first half of the year, we concluded the third year of our Beyond the Boundary (BtB) project in India with our final recommendations report and our Water Dialogues in Mumbai and Chennai working with the Confederation of Indian Industries.

• The BtB project concluded by creating a series of decision indicators to support better and fairer decision-making for water resource allocations, and produced a comprehensive stakeholder map of water resources management institutions as appropriate for the identified watershed.

• In September 2024, we were commissioned by Alliance for Water Stewardship to produce a water playbook for Water Management within India. The playbook offers practicable ways for businesses to conduct meaningful dialogue with resident communities in the watershed and resolve water-related challenges such that it strengthens the systems within the watershed. At its core, the playbook embeds the interest of marginalised people who tend to have weak influence and power to secure their rights to access local water resources.

Wash Tapp

• We continued to develop the WASH Basins Toolkit and WASH Connect App (WASH Tapp) based on feedback from our pilot project partners in Africa and usage across partners in India and Nepal. Continued scaling of the usage is planned through a new Frank Water Institute initiative in 2026.

Education, Awareness and Advocacy

• We took the stage at leading global conferences, including World Water Tech, being the official UK Pavillion Charity Partner at SIWI (Stockholm International Water Institute) for World Water Week, and the AWS Global Water Stewardship Forum. We showcased our innovative approaches designed to drive systemic change, inspiring agencies,

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businesses and governments to break the cycle of water poverty affecting millions worldwide.

• Working with our digital education partner Earth Cubs, we continued with our work to develop free online resources that will deliver engaging education around the UN’s Sustainable Development Goal 6, to primary school children around the world. Having launched on World Water Day in March 2024, the videos have now been viewed by an estimated total of 172,000 children globally online and through schools. Inspiring them to protect and conserve fresh water locally and through their consumer behaviours, globally. Our development work continued in this area - funding the translation into Spanish as well as supporting the wider training for these materials.

• Through our Social Enterprise, Frank Water CIC, we worked hard to change drinking habits here in the UK, through our products and services, including serving a whopping 24,279 litres of water at 5 festivals over the summer, saving the equivalent of 48,558 half-litre single-use plastic bottles from landfill and over 4 tonnes of carbon. It engaged a team of 60 volunteers, who spread the word about our global water challenges and Frank Water’s solutions, leveraging over 1,200 sign ups to our enews.

• We continue to work with UK postgraduate University students from The University of Bristol with research papers including conducting research on 'systems thinking' approaches to international development programmes, focusing on Frank Water and the Centre for Business Development's work in Dhar, Madhya Pradesh and the impact on improving clean water, sanitation and hygiene. Systems thinking can be understood as an approach that looks at problems as part of a bigger picture, enabling interventions beyond ‘end of pipe’ solutions that view issues holistically, improving collaboration, problem-solving and decision-making.

We plan to work with more Masters level students from Bristol University in 2025-26.

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Detailed Programme achievements, Case studies and updates from the field

(i) Systems strengthening

a) Transforming Lives: A Decade of Impact in Madhya Pradesh (India)

We are proud to report that our work concluded in Madhya Pradesh, India in 2025, demonstrating the extensive work and commitment to the region over the last 10 years.

By the end of October 2024, every person in our project villages - over 5,000 people in Dhar district in Madhya Pradesh - now have access to sustainable, safe drinking water, sanitation, and hygiene—transforming lives in communities once plagued by extreme poverty and water scarcity.

A Sustainable Future for Dhar: After a decade of impactful work in 49 villages, we are proud to see these communities achieve self-sufficiency, passing WASH knowledge to future generations and neighboring villages.

Empowering Communities Through Convergence Success: Our awareness work empowered communities to submit 52 government convergence proposals for groundwater recharge measures, including stop dams, wells, trenches, and tube wells. Already, several have been approved under the MGNREGA scheme, raising an impressive 47 Lakh Rupees. This success highlights the communities’ growing ability to secure their right to clean water and sanitation.

Women Leading the Way in WASH: With women’s Self-Help Groups (SHGs) managing water supply under the Indian government's safe drinking water scheme - Jal Jeevan Mission, our work aligns closely with these efforts. Women-led water committees are thriving, and 350 women recently received training in personal hygiene, menstrual health, and sanitation—placing women at the forefront of water resource management.

In January 2025, we actively facilitated the handover to local panchayats and water committees, with government departments playing a key advisory role. To ensure the sustainability of our work, we are developing educational materials (IEC) and contributing insights to Jal Jeevan Samvad and the India Water Portal.

Our journey in Madhya Pradesh stands as a testament to what can be achieved when communities are empowered to manage and safeguard their water resources for generations to come.

b) Reviving Himalayan Springs: Building Climate Resilience (Uttarakhand, India and Himachal Pradesh, India)

In 2025, Frank Water continued its work to revive mountain springs in Uttarakhand, India, adding Rudraprayag district to ongoing efforts in Almora. These springs, the sole water source for many Himalayan communities, are drying up due to climate change. With weather patterns

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shifting drastically, local communities, guided by Frank Water’s methodologies, have been digging trenches and planting native grasses and trees to restore spring water supplies.

This programme is rooted in our springshed management approach, combining hydrogeological science with traditional ecological knowledge. Rather than focusing solely on water extraction, we work upstream restoring the landscapes that recharge groundwater and sustain springs.

Over the past year, implementation has expanded across multiple villages and water sources, supported by our regional partner, the Centre for Business and Entrepreneurial Development (CBED).

At its core, the programme integrates three interdependent elements:

• Nature-based solutions, including trenching, plantation, and slope stabilisation

• Community-led governance, with Village Water Committees responsible for oversight

• Women’s leadership, ensuring long-term sustainability and equitable access

This combination has enabled the programme to move beyond infrastructure delivery toward systemic and lasting change.

This year, the programme transitioned from early-stage implementation to a more mature phase involving monitoring, learning, and community ownership.

Across the region, we worked with 15 villages and restored or monitored 16 springs, directly benefiting more than 11,000 people.

Significant progress has been made in restoring groundwater systems. Communities have constructed over 6,700 recharge trenches and planted 2,000 native trees and grasses, collectively creating an estimated 1.69 million litres of groundwater recharge capacity. These interventions are already contributing to improved water availability for drinking, domestic use, and small-scale irrigation.

At the same time, strong emphasis has been placed on building local capacity. Village Water Committees are now active across all project sites, meeting regularly to oversee water systems, review data, and coordinate maintenance of spring structures and processes.

Women, in particular, have taken on critical technical roles. In each village, trained women monitors are responsible for:

• Measuring spring discharge

• Recording rainfall patterns

• Testing water quality using field kits

We learned that community-led monitoring and decision-making is more important than external management.

Our team uses spring discharge hydrographs to track how water flow changes over time. These provide a clear evidence base to understand seasonal variability and the performance of recharge interventions.

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Building on the proven success of our spring rejuvenation programme in Uttarakhand, in 2025 we scaled up to the neighboring Himalayan state of Himachal Pradesh. Inspired by the positive impact on communities, our team conducted scoping studies in Sirmour and Solan districts, where springs are the lifeline for domestic and agricultural water needs. Our pilot study in this region concluded in 2025.

“I am proud to have learned something new and that our village now has more water. We will protect our forests and springs for the future, ” Geeta Devi, Dadoli Village in Uttarakhand.

c) A dual crisis of Water and Governance (Maharashtra, India)

Launched in July 2024, our project in drought-prone Maharashtra has impacted over 22,530 people across the two districts, primarily from scheduled castes and tribes. Inspired by the scheme’s successes, villagers from the neighbouring Sirsao district joined the initiative. Our local partner conducted water quality tests, uncovering dangerously high salinity levels even in shallow aquifers, underscoring the urgent need for action.

Water challenges in rural Maharashtra are often framed simply as a problem of scarcity. However, findings from our programme reveal a more complex reality, one defined by the intersection of declining groundwater availability, deteriorating water quality, and fragmented governance systems. Addressing any one of these in isolation was insufficient for us; together, they create a cycle of persistent water insecurity for the communities.

Groundwater Stress: Overdependence on a Finite Resource

Groundwater is the primary source of drinking water and irrigation across the project areas. Over time, increasing demand, particularly from water-intensive agriculture such as sugarcane, has led to unsustainable extraction.

Communities have progressively shifted from shallow wells to deeper borewells as the water table declines. This pattern reflects a system where extraction often exceeds natural recharge, driven by:

• High agricultural water demand

• Erratic rainfall affecting recharge

• Limited regulation of groundwater use

The result is a growing dependence on deeper, more energy-intensive, and less reliable sources of water.

Water Quality: Availability Does Not Mean Safety

Alongside declining availability, water quality has emerged as a critical constraint. The programme’s baseline and monitoring data showed widespread contamination across both shallow and deep aquifers.

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Two key drivers are at play:

• Geogenic factors: naturally occurring salinity, fluoride, and mineral content linked to local geology

• Anthropogenic factors: agricultural run-off (fertilisers, pesticides) and industrial pollution

Baseline findings identified:

• High salinity and nitrate levels across multiple villages

• Seasonal spikes in total dissolved solids (TDS)

• Contamination even in sources traditionally considered safe

In many cases, water is physically available but unsafe for drinking, undermining the effectiveness of supply-focused interventions.

Health and Livelihood Impacts

The consequences of poor water quality are immediate and far-reaching. Communities reported:

• Gastrointestinal illnesses and skin conditions

• Kidney and liver-related health issues

• Increased risk of chronic disease linked to long-term exposure such as cancer

At the same time, agriculture is affected through:

• Soil salinisation and declining fertility

• Reduced crop yields

• Increased reliance on chemical inputs

These impacts reinforced each other, creating a cycle where declining water quality led to reduced productivity, higher costs, and increased vulnerability for communities.

The Governance Gap: Fragmented Systems, Limited Accountability

A critical finding of the programme is that water insecurity is not only environmental, it is also institutional. Water quality monitoring and management involve multiple actors, including frontline workers, health departments, laboratories, and government agencies. However, these

systems operate with limited coordination and standardisation.

Key gaps identified included:

• Inconsistent water sampling practices across districts

• Low utilisation off-field testing kits despite availability

• Delays in laboratory testing and reporting

• Lack of clear SOPs for frontline workers

• Limited accessibility & use of digital data systems

As a result, while data was often collected, it was not being consistently translated into action.

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A Systemic Challenge

These combined factors pointed to a fundamental insight:

‘’Water insecurity in Maharashtra is not simply a problem of supply or contamination, it is a systems challenge, driven by the absence of coordinated mechanisms that link data, communities, and institutions.’’

This explained why traditional solutions such as drilling new borewells or expanding infrastructure have had limited long-term impact. Without addressing these underlying system gaps, such interventions risked reinforcing existing pressures on water resources.

Over the past year, funding has enabled us, in partnership with our in-country delivery partner ACWADAM, to design, validate and implement a systems-based approach to water security in Maharashtra. This approach integrates hydrogeological science, water quality analysis, community engagement, and institutional alignment to address interconnected challenges of water availability, contamination, and governance.

Baseline studies covering over 5,800 households established a detailed understanding of groundwater dynamics, water quality risks, and socio-economic impacts. Findings confirmed widespread contamination from both geogenic and anthropogenic sources, alongside declining groundwater availability. Crucially, this evidence was translated into community-led planning processes, enabling more informed and decentralised decision-making.

A key achievement of the programme has been its transition from localised implementation to systems level influence. Sustained engagement with government stakeholders led to a formal MoU with the Government of Maharashtra in August 2025, providing a pathway to scale the approach across four districts (Dharashiv, Kolhapur, Pune and Raigad) and embed it within public systems. This includes a major focus on strengthening the capacity of frontline workers responsible for water quality monitoring and reporting.

The programme has also generated important insights into structural gaps within existing systems, including inconsistent sampling practices, limited use of testing tools, weak data utilisation, and lack of standardised processes. These findings highlight that water insecurity is not only a technical issue but a systems challenge requiring coordinated institutional responses.

Since November 2025, the programme has focused on translating these insights into scalable design through district-level consultations, identification of priority geographies, and development of structured training programmes. This phase lays the foundation for effective and sustainable implementation at scale.

Funding this year has enabled investment in evidence generation, community engagement, and institutional alignment and has allowed the programme to move beyond short term outputs and contribute to long-term systems change .

The programme demonstrates that sustainable water security requires the integration of scientific evidence, community capacity, and institutional systems. Frank Water has played a

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catalytic role in advancing a scalable, systems-oriented model with the potential for sustained impact across Maharashtra for over 54,000 people.

“I have seen by working with Frank Water that when communities understand their water, they begin to manage it differently. That shift from dependence to ownership is what is creating a lasting change”. - Uma Aslekar, Executive Director, ACWADAM

d) Spring Revival in Nepal’s Hindu Kush Himalaya Region (Nepal)

In 2024, we established a programme in Nepal’s Hindu Kush Himalaya region - aiming to transform lives by directly impacting 1,500 residents and indirectly benefiting 16,777 more who depend on water flowing from four rejuvenated springs in this fragile mountain environment.

This initiative, led by our partner ICIMOD and in collaboration with Namobuddha municipality officials and community resource persons (CRPs), began with an extensive inventory of the municipality's water sources. Mapping 480 water sources across 11 wards—including 450 springs and 30 ponds—the survey revealed that 20% of these vital resources had dried up, leaving an average of 28 households reliant on each spring.

Critical springshed management interventions are advancing in Namobuddha with Frank Water funding. The programme identified the revival of two additional common springs essential for drinking water and irrigation. These springs are closely monitored, and the results will inform future scaling efforts. A scoping mission in 2024, organised in collaboration with local communities, identified critical springs that required restoration to secure long-term water availability.

With generous funding support, during the year we successfully revived three springs in Ward 2 of Namobuddha Municipality, significantly improving water access for local communities.

We are now establishing monitoring systems to measure spring discharge and have initiated revival activities for two more springs in Wards 3 (Opi) and 9 (Belwati).

Funding enabled the formation of local springshed management committees and empowered community members—especially women—through capacity building in water management. An initial inventory of 480 water sources guided data-driven, community centered interventions. A detailed hydrological study and identification of recharge areas further laid the groundwork for long-term water security.

Additionally, we trained Community Resource Persons (CRPs) through our WASH Connect App, enhancing data collection and insights into local social and governance dynamics. Training is a cornerstone of this initiative. These CRPs have completed hands-on exercises to ensure proficiency in field data collection and clearly understand the six-step methodology for spring revival, making them key drivers of sustainable water resource management in mountain communities. Feedback loops are in place to refine the process further and improve outcomes.

Funding has not only boosted sustainability of water resources but also strengthened community engagement and local governance — setting the stage for scaling up these efforts across other municipalities.

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This year, in February 2025, our founder Katie Alcott travelled with Praveena, Frank Water’s Programme Lead to Namobuddha Municipality in Nepal to visit one of the communities we work with. The trip came just months after the devastating floods of September 2024, which destroyed key infrastructure and disrupted local spring systems—slowing down our progress and requiring a complete reassessment of the spring mapping work.

The community we met relies on the ‘Opi’ spring for all their drinking water. For everything else— irrigation, bathing, livestock—they used to depend on water pumped from a small river miles away, but that system was destroyed in the floods. Now, the Opi spring is their lifeline, and it’s under threat. It has significantly reduced flow, especially in the dry season, when it slows to barely a trickle .

Our team spoke with Sunita, the local Community Resource Person, who’s been trained through our programme. She has developed a deep understanding of the Opi spring’s hydrology and the impact of changing weather patterns. Sunita told us how erratic, intense rainfall has become the new norm — washing away infrastructure and leaving little time for groundwater recharge. The community rebuilt the spring box after it was destroyed, but even during peak flow, people often queue for hours. With their irrigation pipes still broken, watering crops and caring for animals has become an uphill struggle.

Despite these challenges, there is hope. Sunita and her community are preparing to construct recharge trenches to help rainwater percolate back into the aquifer. They’ll plant native grasses and trees around them to support biodiversity and improve water retention and absorption.

What inspired our team most was Sunita’s confidence and sense of purpose. Her knowledge has empowered her to lead local efforts in water conservation and ecosystem restoration. It’s a powerful reminder of how community-led solutions and local leadership are key to building resilience in the face of climate change.

(ii) Collective Water Stewardship

Corporate Water Stewardship : Our collective water stewardship programme involves engaging with businesses directly through knowledge products and work done over the two years of the Beyond the Boundary (BtB) project in India.

In 2024-25, Frank Water concluded our final aspect of the latest BtB project funding - a Corporate Water Stewardship “Playbook” and the initiation of our “Water Dialogues” conferences.

a) Playbook for Water Management: As part of our work in engaging collection action to tackle water management best-practice, our programme with the Alliance for Water Stewardship between September 2024 and March 2025, developed a practitioner ‘playbook’ to help site-level managers with a roadmap to start to carry out water stewardship activities in their local watershed.

The playbook is a first of its kind effort in sustainability practice of businesses, focusing on ways and means through which a business can secure water resources for its operations in an equitable and just manner, and without undermining the local community’s rights and interests.

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The playbook offers practicable ways for businesses to conduct meaningful dialogue with resident communities in the watershed and resolve water-related challenges such that it strengthens the systems within the watershed. At its core, the playbook embeds the interest of marginalised people who tend to have weak influence and power to secure their rights to access local water resources.

In India, watersheds in several peri-urban towns are facing intense pressure from domestic, agricultural and industrial demands for water given an accelerated pace of urbanisation. This has necessitated that the conventional projects of working to provide safe and sustainable access to water for these communities must now include a dialogue and collective action with the businesses that are drawing on resources from the same watershed.

b) Water Dialogue Series : In December 2024, Frank Water initiated the Water Dialogue Series in Chennai - a dynamic platform to unite stakeholders interested in and working in water stewardship. Attendees included individuals from community-based organisations, businesses and government representatives from the local and regional departments in India. Emerging from the collaborative Beyond the Boundary (BtB) project, implemented in watersheds across Bengaluru and Chennai, the series is co-organised with the Confederation of Indian Industry’s Triveni Water Institute (CII-TWI) .

Our Water Dialogue Series aims to promote sustainable, ecologically appropriate and equitable management of water resources through a series of knowledge sharing, training and road-mapping sessions. Through the series of dialogues, we aim to develop models of efficient practices, equitable use and collective action for shared water resources at an identifiable, measurable scale.

The event, held on 10 December 2024 in Chennai, focused on the Water-Climate-Livelihood Nexus and the critical role of corporate engagement. One of the sessions featured insights from the BtB project’s water allocation study in Sriperumbudur, underlining the necessity of collaborative frameworks to balance human needs, environmental sustainability, and equitable access.

The dialogue concluded with a consensus on the need for source-based water stewardship strategies that differentiate between surface and groundwater management. Dr. Himanshu Kulkarni framed this as understanding the “provenance” of water—tracing its source rather than merely focusing on access points.

In February 2025, Frank Water held a second Water Dialogue series in Mumbai, India, in partnership with the CII Triveni Water Institute. The theme, ‘ Corporate Engagement on Water-Climate-Livelihood Nexus,’ continued to build on the earlier event in Chennai.

The agenda featured a case study presentation on water interventions through collective action in Tamil Nadu and Maharashtra alongside a keynote address from Sanjay Chahande, Chairperson of the Maharashtra Water Resources Regulatory Authority (MWRRA). Industry leaders and experts, including Mr. Ravichandran Purushothaman, Chairman, CII Mission on Water & President Danfoss Industries Pvt. Ltd, Dr Kapil Narula Executive Director & CEO, of CII Water Institute) and

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Katie Alcott, founder of Frank Water, shared insights on the critical role of businesses in sustainable water management.

Participants acknowledged that forums like these help make connections, understand the state of practice, and build new partnerships. The event concluded with a commitment to scaling the Water Dialogue Series, to continue drawing industry and other watershed stakeholders into an active dialogue that identifies, collaborates, and addresses critical water issues in their respective watersheds.

(iii) WASH Tapp

After the successful pilot project in 2022/23 in Kenya with health and WASH NGO Amref, we plan to continue our WASH Tapp project in Kenya and beyond through connections forged this year by joining the Rural Water Supply Network (RWSN). We are once again collaborating with ARUP and during the year we pooled our learnings to launch a new initiative for 2026 - the Frank Water Institute . Updating the toolkit training materials using an interactive platform with videos, for self-learning.

The WASH Connect App continues to be used by all our other partners.

(iv) Education, Awareness & Advocacy Programme

Earth Cubs Collaboration

Frank Water partnered with Earth Cubs in 2024 - an organisation who create educational environmental content for children (3-11 year olds), parents and teachers. Together, with our Knowledge Partners Arup and Xylem, we have created some amazing content for the videos and lesson plans to inspire children about the impact water has on people and the planet. These resources were launched on World Water Day 2024 and promoted throughout 2025 and now have received 172,000 views worldwide.

Bringing together real-life footage and Earth Cubs cool characters, this unique educational storytelling makes planet- saving exciting, entertaining, and achievable. Frank Water X Earth Cubs Educational videos and resources, available on YouTube are entitled:

• Water is Everywhere

• Epic Earth’s Natural Wonder

• The Secret Life of Water

In October 2025, these resources were translated into Latin-American Spanish, to reach a

wider global audience of children.

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UK Behaviour change - our Social Enterprise

Our Festival Refill Service (run by our trading subsidiary and social enterprise Frank Water CIC) supports behaviour change towards more responsible consumption of water, whilst protecting our UK environment from further plastic pollution.

Over the summer of 2025, we were delighted to deliver our service at 5 large festivals, focusing our efforts on events that we know to be a receptive and wide reaching audience for Frank Water, have a strong fit with our values and mission, and have the potential to generate good revenue.

Thanks to the support of our team of 60 volunteers, we delivered our refill services to 5,830 people, whilst also sharing our passion for Frank Water’s programmes, addressing water security within the current context of the climate crisis. Across the events, more than 1,200 people registered to receive our monthly e-newsletter, enabling us to continue to engage this audience in the importance of our work and develop longer-term support. We served over 24,279 litres of water at these events over the summer, saving the equivalent of almost 48,558 500ml single-use plastic water bottles from landfill, as well as the associated carbon.

Postgraduate Research

Whilst we consider all of our on the ground implementation work, action based research, we have also continued to engage in specific research projects and efforts geared towards producing research based outputs include the following:

• Creating a collaboration with AI experts, Colectiv and our partner ICIMOD in Nepal to facilitate research to assess how AI can be used to improve feedback loops for local people in Nepal. This pilot showed that combining offline voice-note collection with AI-driven transcription and translation can improve qualitative research in remote areas. The approach enabled rich, community-led insights with greater efficiency. It is available here:

https://blog.icimod.org/ecosystems-landscapes/using-audio-notes-and-ai-for-rapid-q ualitative-data-collection-a-case-study-in-the-springshed-pilot-site-kavrepalanchow k-nepal/

• We continue to work with UK postgraduate University students from The University of Bristol with research papers including conducting research on 'systems thinking' approaches to international development programmes, focusing on Frank Water and the Centre for Business Development's work in Dhar, Madhya Pradesh and the impact on improving clean water, sanitation and hygiene. Systems thinking can be understood as an approach that looks at problems as part of a bigger picture, enabling interventions beyond ‘end of pipe’ solutions that view issues holistically, improving collaboration, problem-solving and decision-making.

We plan to work with more Masters level students from Bristol University in 2025-26.

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Advocacy

Frank Water has been a powerful voice in raising awareness about the water and climate crisis, with impactful contributions including this year:

Talks addressing the audiences at the Arup and WRC Wet Networks: Innovation to adapt to the impacts of climate change

Attendance and contributions at World Water Tech

Alliance for Water Stewardship (AWS) Global Forum: At one of the most significant water sector meetings, our collective water stewardship work was presented, and we shared our expertise with companies and NGOs looking for new ways of approaching sustainable water management.

Stockholm International Water Institute (SIWI) World Water Week: At the premiere global water sector gathering with key stakeholders, we showcased our Beyond the Boundary programme as official UK Pavillion Charity Partners.

Southwest International Development Network (SWIDN) conference: Shared our key highlights and progress towards SDG6 and 13 with other key NGOs.

Water, Engineering and Development Centre (WEDC) conference: Together with our partners Arup and Amref we shared our key achievements in improving water security for communities in Kenya using our WASH app and toolkit.

(v) Fundraising & Programme Funding

This year was a challenging fundraising environment for all charities and especially so for smaller charities. Despite reduced income levels this year, we remain an adaptable and resilient organisation, with loyal supporters across a wide range of income streams.

Our corporate fundraising is underpinned by our wonderful Rainmaker partners who consistently support us in a variety of ways - from match-funding our annual Appeals, staff fundraising activities, generous annual donations, in-kind support and sharing our online campaigns. We are proud to work with such a great community of like-minded organisations. We are also pleased to collaborate further this year with 1% for the Planet network members and a wider range of B-CORP members. Ethical business has a huge role to play for people and the planet and we are delighted to continue to welcome new Frank Water Rainmaker partners.

Trusts and Foundations generosity remains a key source of income for our charitable work. We successfully secured grants from both loyal and new donors, to support Frank Water’s projects in India, Nepal and Kenya.

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With a range of funding income across appeals, philanthropists and individual giving year on year from our brilliant supporters. We were delighted to exceed our target for the Big Give Christmas Challenge, raising our biggest ever total of £60,000 for our work, and following our World Water Day Campaign launch, ‘It Starts with Water’, for World Water Day, in May we successfully ran our Spring Appeal entitled “Protect Water”, raising an incredible £45,000. Our Development Fund for Water, also continues to attract support from major donors interested in more strategic development work.

We continue to receive loyal support from our community of Raindrop Regular Givers, donating on a monthly basis as well as supporting our major appeals. We are so grateful for their loyalty and commitment.

Individuals have undertaken a variety of fundraising activities for Frank Water during the year, from Brighton Marathon and the Bath Half Marathon to card making and Diabolo juggling. Every penny counts and we love hearing about the many imaginative ways our supporters fundraise for us.

Including those adventurers who continue to take on more challenging ways to take fundraising into their own hands - such as Gavin Booth MBE and Adam Wilton MBE, who in January 2025 successfully attempted the first unsupported foot crossing of the Saudi Arabian Rub’ al Khali (the “Empty Quarter”). They travelled 800km on foot, hauling all their supplies and water in self made “rickshaw” style carts, weighing more than 200kg each. The Rub’ al Khali is the world’s largest sand desert and is one of the harshest places on earth and largely unexplored. The work dubbed “Crescent Crossing” continues to fundraise through Just Giving.

Art for Impact

Since Frank Water began, it has used the power of art to convey, influence and inspire our supporters. This year saw collaborations with three wonderful artists to support our awareness and advocacy work as well as raising vital funds. We thank everyone for their involvement.

- It Starts with Water (Jasmine Hortop)

Our World Water Day campaign collaborated with artist Jasmine Hortop was entitled “It Starts with Water” with an innovative mural design. The mural design in the UK’s first water-activated mural - unveiled at a public installation in the heart of Bristol’s shopping quarter.

Supported by Bristol’s Cabot Circus, Upfest, If Not Now Digital and Exhale Coffee, this installation was designed to spark conversation and encourage action to protect fresh water and in turn, the future of our planet.

Katie Alcott, Frank Water’s founder, said at its launch: “Water is the foundation for life and this mural highlights its importance and Frank Water’s role in helping to shape a sustainable future. Just as the artwork is revealed with water, we must also uncover and address the urgent need to protect and conserve this precious resource. We hope this installation inspires people to think differently about water and take action.”

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Journeys with Water (Rebecca Hawkins)

Sculptor, Rebecca Hawkins, produced her stunning bronze creations, under the theme of “Journeys with Water - Celebrating the Freedom that Water Brings”, inspired by her visit to Frank Water’s projects in India in 2022. Two sculpture exhibitions were arranged by Frank Water towards the end of 2024 to showcase a series of nine beautiful and highly emotive sculptures, representing the women and girls who find elation and freedom from access to safe clean water. The first of these events took place in Birmingham in September 2024 and the second in London in November 2024, hosted by ARUP. The sculptor Rebecca Hawkins has kindly donated 50% of the profits from the sale of each sculpture. Several of the sculptures are still available through Rebecca’s website and signposted on our own website.

The India Collection (Jemma Powell)

Ending the year, in September 2025, artist Jemma Powell, also donated a percentage of her proceeds of her painting series The India Collection, exhibited at the Cornbury Horse Trials. The collection explores Jemma’s travels across Rajasthan, India, observing local communities and their daily rituals.

“I am excited to be joining Cornbury and showing my latest body of work, The India Collection. With these paintings, I found myself drawn to scenes of women carrying water - figures moving with both strength and grace through heat and dust, which I keenly observed in one key painting Burden and Grace. These moments became the heart of this collection, and I hope my paintings resonate with visitors to the beauty and resilience of Rajasthan.”

Frank You!

Frank Water would like to take this opportunity to give our thanks to the many individuals who have donated to us this year - our Regular Raindrop Givers and many individuals who donated to our Big Give Christmas Appeal and World Water Day Appeal this year. Your support enables our organisation and its vital programme work to continue. As a small organisation, we really appreciate every donation we receive.

We’d also like to thank our Rainmaker Club organisations - a community of like-minded corporates and organisations who continued with their brilliant support of us this year in a variety of different ways. It is truly meaningful to have such great collaboration and support behind our organisation and underpinning our global achievements.

Thank you also to the many Trusts and Foundations whose generous grant funding continues to provide crucial support for our work.

Volunteer and In-kind support

We greatly value the generous time and in-kind support given by organisations and individuals, including our volunteers, trustees, patrons and ambassadors.

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In particular, thanks go to: Jon Free and Nick Stamp for continuing IT and database support; Remy Clarke from Cymer CRM; Dan from Honest Studio; ARUP for their ongoing in-kind support; and Dishoom for their events support; Lyreco for their Marketing Support during their Supplier Support Programme, and Floresco Media for their GoogleAds support.

For our social enterprise festival activity, special thanks to: our wonderful festival refill volunteers; Molson and Mathias & Sons for storing our festival refill kit and kiosks; Nina Postans, Skylark Media and Giles Hampton for media coverage over our festival season; our cordial and snack providers - Bluesky Botanics, Kabuto noodles and Boundless; our brilliantly supportive festivals and festival goers - 2000Trees, End of the Road, Camp Bestival and Love Supreme. And special thanks to Dave Turner for his many years of technical support.

(vi) Future plans

Our key focus over the next 12 months will be to consolidate our learnings and efforts and continue working with our in-country partners to improve water security and access to sustainable WASH services for some of the world’s most marginalised communities, using a systems approach and nature-based solutions to strengthen the communities and the ecosystems we work in. Our systems strengthening work with our longstanding NGO partners remains core to our work.

Keeping our work broad and tackling issues of just use of water, quantity and quality within watersheds, we will support communities at the forefront of the water and climate crisis to adapt and build resilience, enabling them to remain in their native lands and to thrive in harmony with their ecosystem.

We will continue to promote the use, dissemination, and further development of ‘WASH Tapp’ by expanding into more communities and territories with new and existing partners. Our focus in 2026 will be Eastern and Southern Africa, furthering usage with NGO teams through the Rural Water Supply Network (RWSN). WASH Tapp will also be instrumental in gathering standardised data on gender, social and governance aspects of spring management. We’ll be partnering with an AI-based tool to pilot the inclusion of qualitative insights through open-ended questions and audio capture for anonymous voice notes. The inputs will be analysed using AI capabilities to generate a dashboard of searchable insights, enhancing the depth of data collected and informing the work.

Through our Collective Water Stewardship work, we will focus on engaging multiple stakeholders through our Water Dialogues series. This involves an outcome focus wherein Frank Water has been conducting thematic and contextually aligned dialogues with businesses, community-based organisations and government representatives from the local and regional departments in India. In partnership with the Confederation of Indian Industry’s Triveni Water Institute (CII-TWI), we will conduct dialogues on the theme of Water-Climate-Livelihood Nexus, with further dialogues planned for Kenya in 2026.

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We will develop our Education, Awareness and Advocacy Programme, in collaboration with environmental educational platform Earth Cubs, providing globally accessible, free resources to primary aged children, engaging them in global citizenship and inspiring positive action on the interconnectedness of global water and the climate crises. We will continue to share the resources with our corporate partners, encouraging them to present the resources in schools and deepen the learning. In October 2025, we furthered their reach and accessibility through the translation of the materials into Latin American Spanish.

Our education, awareness and behaviour change work, delivered via our social enterprise (CIC) remain a high priority and we’ll look to enhance communication and activation opportunities through the high profile locations the products and services are delivered in, increasing the engagement and following.

We will look to further grow specific areas of our income this year, focusing on building our Development Fund through philanthropic support, increasing our individual giving programme, seeking new, long-term corporate partnerships and engaging new audiences through our Christmas and World Water Day Appeals. The charity will proactively seek to secure multi-year funding as needed to deliver our ambitious and impactful programme strategy. Responsibility for fundraising will continue to be spread across the business, ensuring that we maximise the opportunities provided to us as a small, agile, and dynamic charity.

This year has seen leadership changes. We wish to give special thanks to our founder Katie Alcott, who after an incredible 20 years has successfully evolved her role from CEO to Associate Director. In her new Associate Director role, Katie will focus on philanthropy, advocacy and building strategic partnerships.

We also give thanks to Tim Willett, who joined Frank Water as CEO in April 2025 for several months, but was unable to continue for personal reasons.

Our new Co-CEO’s Jon Shepherd and Claire Williams bring over 20 years of charity, corporate and social sector experience and a breadth of knowledge and expertise, in addition to their in-depth knowledge of Frank Water - as former Head of Programmes and Head of Operations and Finance. Jon and Claire are excited to shape Frank Water’s sustainable future and to lead our organisation into its next exciting phase, starting with our Strategic Review update in 2026.

Along with our Board of Trustees, our key organisational focus areas over the next 12 months include; Financial Sustainability & Risk Management; Maintaining our Programmatic Impact; Workforce Stability & Supportive Culture; as well as development of our next 3 year strategy .

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(d) Financial review

General review of position at end of year

Total income for the period was £414,534 (2024: £461,562) and total expenditure was £507,523 (2024: £620,418), giving net expenditure for the period of £92,989 (2024: expenditure of £158,856) . We continue to regularly review our reserves policy and continue to develop income streams to ensure we continue in this positive vein.

Allocation of funds

We think it is important to clearly outline our charitable spend: how we allocate the funds donated to us by our generous supporters. We never spend restricted grants on fundraising activities.

Reserves policy

The trustees regularly consider the reserves held by the charity, and regard a level of £ 55,710 in free reserves as satisfactory. This amount has been calculated carefully and enables the charity to meet any anticipated and necessary costs should it become insolvent. If at any point reserves fall below the target, the trustees have agreed to act immediately to ensure continuity of work.

At 30 September 2025, Frank Water held £51,525 (2024: £144,514) in reserves, of which £41,204 (2024: £94,733) are free reserves where free reserves are measured as unrestricted funds, excluding fixed assets. The Charity also held £10,215 (2024: £49,781) in restricted funds. During the year, the forecast free reserves fell below the target level. To mitigate the impact of this, swift action was taken to reduce the organisation's ongoing costs in order to return reserves to above the target level, achieved after the year-end.

Grant-making policy for overseas implementation work

Frank Water has a robust partner selection process, which is reviewed regularly and used to identify and evaluate suitable partners and programmes. After an initial, careful selection process, we very much work in partnership with the local NGO, collaborating to develop new programme plans, and directly contributing to ongoing programme innovations, development, management and delivery.

This approach has enabled us to successfully identify in-country NGO partners, with whom we can plan long-term, mutually beneficial relationships that offer significant development of a programmatic approach.

(e) Structure, governance and management

Legal status, date of incorporation and date of charity registration

The organisation is a company limited by guarantee, incorporated on 3 October 2005 and its objectives and powers are set out in its Memorandum and Articles of Association. The organisation was registered at the Charity Commission on 18 October 2007.

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Details of the governing document

The Memorandum prohibits any distribution of funds to trustees other than for proper reimbursement of costs incurred on the company’s business.

Method of recruiting and appointing new trustees

The trustees have appointed a Chair, and membership is open to other individuals. Wide recruitment advertising is undertaken, with a focus on improvement of diversity, and trustees may also propose additional individuals who can bring specific skills and networks to the charity and, if a majority of the current Board are in agreement, official appointment paperwork is undertaken. Inductions and training are provided for new trustees as required.

Stephanie Hurry was appointed to the Board on 4 December 2024. Stephanie is Head of Membership, Marketing and Engagement at UK based charity Waterwise.

Oliver Jones retired from the Board on 14 November 2025 after serving 5 years. Oliver has worked in the water, sanitation and hygiene sector for over 20 years and managed WASH projects in South Asia and Africa. We wish to thank Oliver for his many years of dedicated support as a trustee of Frank Water.

Catherine Sherwood was appointed to the Board on 14 November 2025. Catherine brings years of experience in Humanitarian work and WASH programme management and we welcome her to the Board.

Anoo Jain has continued in the role of Chair and has supported the development of the Board along with the CEO, Katie. Having served two terms (six years) in May 2024, with the support of the rest of the Board, it was agreed that he would move into a third term to provide continuity and leadership through the CEO transitions in 2025/26, but plans to retire when his tenure ends in April 2027.

Organisational structure and decision making

The trustees meet at least four times a year with the Chief Executive and Senior Leadership Team, to discuss the strategic direction of the charity, ensure its core aims and objectives are being met most efficiently, and to take account of any risks to the charity and make sure all legal obligations are satisfied. In addition to the quarterly meetings, the trustees communicate regularly on a variety of topics relating to the objectives and operation of Frank Water.

The day-to-day business of the charity is handled by the Chief Executive, staff, and volunteers.

Related parties

Frank Water Projects owns 100% of the share capital of the trading subsidiary Frank Water CIC. The ultimate controlling party is the Board of Trustees as a body. Jon Shepherd, Claire Williams and Katie Alcott are senior employees of Frank Water Projects and Frank Water CIC. Frank Water Projects also shares overheads with Frank Water CIC, which it pays for at market rates.

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There are no other subsidiaries or charities controlled by the same trustees. All trustees have completed a register of interests form so that potential related parties can be identified.

Risk management

The Board identify and review the risks to which the charity is exposed, and ensure that appropriate controls are in place to provide reasonable assurance against fraud and error.

The Board and the Management Team have developed a robust approach to managing risk, undertaking a quarterly assessment of the risks facing the organisation. This assessment process updates the risk register, which assigns management of these risks to specific individuals and recommends actions to be taken, where necessary, in order to manage their likelihood or impact. The Senior Leadership Team also highlights specific risks as they arise and report these to the Board as appropriate.

Attention is currently focused on the following risks, and the Board’s plans and strategies for managing those risks, arising from:

• Delivering sufficient funds considering the economic effects on individuals and businesses: Focus is being placed on demonstrating track record, impact and leveraging effect of our funds through good, clear and regular communications to all funders. Regular reviews of fundraising are undertaken and actions implemented to reallocate resources where appropriate. Meanwhile, regular updates to the financial forecast are reviewed, to ensure that costs are kept in line with funds raised and unrestricted reserves are maintained;

• Retention of key personnel in the UK and India: Regular checks to ensure accurate job role profiles, robust recruitment process, reviewed notice periods, performance management systems and pay structure benchmarking to attract and retain key staff. Investment in staff capacity, flexible working policies and non-remuneration based benefits and incentives. Recruitment, engagement, development and appropriate retention of the Board. Recruitment of new CEO and transition of our founder to a new role within the organisation;

• Ability of Frank Water CIC to repay the social investment loan: Focus on developing CIC staff and board to ensure business plan can be followed and revenue generated; and ensure continued close communication and interaction between the Charity and CIC.

Volunteer and staff team

Frank Water is extremely fortunate to have developed a dedicated group of volunteers, without whom the charity could not function as efficiently as it does and would have far less reach and impact.

The time donated to us by our volunteers helped us in a number of ways:

• Research and development

• Grant funding applications

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Frank Water Projects | Report and unaudited financial statements | 30 September 2025

• Festival Refill Service for our Social Enterprise

• Helping to ensure events ran smoothly

• General awareness raising activities and promotion of Frank Water

• Provision of IT equipment

• Graphic design and social media support

The value of the time and items given to Frank Water at no cost this year totalled £35,927 (2024: £31,940), and are based on market rates. These items include prizes, technical equipment and subsistence.

The core UK team has continued to work with determination, skill and incredible passion, despite the various challenges, and deserve recognition for the varying and many successes over the year.

Frank Water also work with three highly skilled Indian nationals, on a part time basis, who support in the strategic development and delivery of our work and deserve equal recognition for their dedication, insight and hard work. Their contribution continues to significantly increase the strength and impact of our programmes.

Statement of trustees’ responsibilities

The trustees (who are also directors of Frank Water Projects for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom 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 income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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

This report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

On behalf of the Board of Trustees,

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Frank Water Projects | Report and unaudited financial statements | 30 September 2025

Dr Anoo Jain

Date 30 June 2026

26

Independent Examiner's Report to the Trustees of Frank Water Projects

Independent examiner's report to the trustees of Frank Water Projects ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2025.

Responsibilities and basis of report

As the charity's 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 charity'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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

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

3. 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

4. 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.

Jade Quaintance FCA The Institute of Chartered Accountants in England and Wales

Gravita Chartered Accountants 2nd Floor, South One Castle Park Tower Hill Bristol BS2 0JA

Date: 30 June 2026

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FRANK WATER PROJECTS

Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 367,443 Charitable activities Programmes - Investment income 3 382 Total 367,825 EXPENDITURE ON Raising funds 4 125,283 Charitable activities 5 Programmes 138,308 Awareness 49,470 Total 313,061 NET INCOME/(EXPENDITURE) 54,764 Transfers between funds 17 (108,187) Net movement in funds (53,423) RECONCILIATION OF FUNDS Total funds brought forward 94,733 TOTAL FUNDS CARRIED FORWARD 41,310	Restricted funds £ 46,709 - - 46,709 1,498 192,964 - 194,462 (147,753) 108,187 (39,566) 49,781 10,215	2025 Total funds £ 414,152 - 382 414,534 126,781 331,272 49,470 507,523 (92,989) - (92,989) 144,514 51,525	2024 Total funds £ 424,891 35,625 1,046 461,562 125,568 462,320 32,530 620,418 (158,856) - (158,856) 303,370 144,514

The notes form part of these financial statements

Page 28

FRANK WATER PROJECTS

Balance Sheet 30 SEPTEMBER 2025

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 13 96 Investments 14 10 106 CURRENT ASSETS Debtors 15 47,458 Cash at bank and in hand 26,095 73,553 CREDITORS Amounts falling due within one year 16 (32,349) NET CURRENT ASSETS 41,204 TOTAL ASSETS LESS CURRENT LIABILITIES 41,310 NET ASSETS 41,310 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS	Restricted funds £ - - - - 10,215 10,215 - 10,215 10,215 10,215	2025 Total funds £ 96 10 106 47,458 36,310 83,768 (32,349) 51,419 51,525 51,525 41,310 10,215 51,525	2024 Total funds £ 435 10 445 91,369 97,302 188,671 (44,602) 144,069 144,514 144,514 94,733 49,781 144,514

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

• (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

• (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

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FRANK WATER PROJECTS

Balance Sheet - continued 30 SEPTEMBER 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2026 and were signed on its behalf by:

............................................. Dr Anoo Jain - Trustee

The notes form part of these financial statements

Page 30 Page 6

FRANK WATER PROJECTS

Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £.

These financial statements are those of the parent company only and not that of the group, as the charitable parent company has taken advantage of the available exemptions not to prepare consolidated accounts.

The charity is a public benefit entity as defined under FRS 102.

The financial statements are prepared on the assumption that the charitable company is a going concern.

Income

Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from donations/grants is included in income on receipt, except as follows:

i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.

ii) When donors impose conditions, which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-condition have been met.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such as grants being recognised as expenditure when are the conditions attached are fulfilled.

Expenditure that is directly attributable to specific activities has been included in those cost of those activities. Support costs have been allocated 100% towards the charitable activities of the charity and split between activities on the basis of management knowledge and estimates of usage.

Tangible fixed assets

Fixed assets are included at original cost.

Depreciation is calculated to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

continued...

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. ACCOUNTING POLICIES - continued

Basis of preparing the financial statements

Fixtures, fittings & equipment: 4 years straight line.

Taxation

The charity is exempt from corporation tax on it's charitable activities.

Leases

Rentals applicable to operating lease agreements where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

Funds

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

The full cost of projects partly funded by restricted funds are included in the financial statements as restricted costs. Any overspend on the restricted fund is reimbursed as a transfer from the general fund. See note 18.

Pension contributions and other retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Volunteers and donated goods and services

The value of services provided by volunteers is not incorporated into these financial statements.

Where goods or services are provided to the charity as a donation that would normally be purchased from suppliers, these contributions are included in the financial statements as an estimate based on the value of the contribution.

Critical accounting judgements

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements other than those set out in the accounting policies above.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Cash and short term investments

Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. DONATIONS AND LEGACIES

Donations Grants Donated services and facilities	2025 £ 282,381 95,844 35,927 **414,152 **	2024 £ 288,311 104,640 31,940 424,891

Income treated as fundraising in the prior year has been reclassified to reflect the nature of the income.

Grants received, included in the above, are as follows:

Coles-Medlock Foundation EA Foundation The Big Give Trust Kirby Laing Foundation Other grants 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS Raising donations and legacies Staff costs Telephone, stationery & & printing Equipment and maintenance Travel & subsistence Conferences & subscriptions Fundraising events costs Bank charges	2025 £ 5,000 28,477 10,297 12,400 39,670 95,844 2025 £ 382 2025 £ 83,263 5,385 500 1,602 555 34,582 894 **126,781 **	2024 £ 10,000 31,640 12,500 - 50,500 104,640 2024 £ 1,046 2024 £ 81,004 6,359 750 1,067 1,648 33,172 1,568 125,568

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

5. CHARITABLE ACTIVITIES COSTS

Grant funding of Direct activities Costs (see (see note note 6) 7) £ £ Programmes 109,499 97,992 Awareness 42,957 - 152,456 97,992 6. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Sundries Phone, stationery & printing Travel & subsistence Conferences & subscriptions Programme partner services 7. GRANTS PAYABLE Programmes The total grants paid to institutions during the year was as follows: Advanced Center for Water Resources Development And Management Beyond the Boundary 2 Centre for Business and Entrepreneurial Development Confederation of Indian Industry Institute for Financial Management & Research (WELL Labs) Foundation for Ecological Security (FES) Myrada Other Grants Payable ICIMOD	Support costs (see note 8) £ 123,781 6,513 130,294 2025 £ 119,780 51 1,557 2,405 198 28,465 152,456 2025 £ 97,992 2025 £ 2,700 14,232 50,000 7,500 - - 6,250 9,250 8,060 **97,992 **	Totals £ 331,272 49,470 380,742 2024 £ 168,407 - 5,235 6,447 311 13,250 193,650 2024 £ 181,145 2024 £ 37,000 - 50,000 50,000 15,000 4,000 6,406 18,739 - 181,145

These refer to payments made to carefully selected in-country NGO partners, to cover the costs of work carried out on Frank Water's behalf.

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

8. SUPPORT COSTS

	Management
	£
Programmes	123,781
Awareness	6,513
	130,294

Support costs, included in the above, are as follows:

Programmes Awareness £ £ Wages 66,954 - Social security 10,240 - Pensions 1,442 - Advertising 20,000 - Phone, stationery & printing 8,718 - Rent, rates, heat & light 7,577 - Premises costs 1,211 - Travel & subsistence 52 - Conferences & subscriptions 2,873 4,999 Bank charges 145 - Depreciation 339 - Legal and professional fees 151 - Accountancy 4,079 - Governance costs - - Staff training - 1,514 123,781 6,513	2025 Total activities £ 66,954 10,240 1,442 20,000 8,718 7,577 1,211 52 7,872 145 339 151 4,079 - 1,514 **130,294 **	2024 Total activities £ 58,046 5,067 893 20,000 8,976 12,095 1,068 - 150 151 340 9,292 3,869 108 - 120,055

9. NET INCOME/(EXPENDITURE)

The operating loss is stated after charging:

Depreciation - owned assets Independent Examiner's fees	Year ended 30.09.25 £ 339 3,700 4,039	Year ended 30.09.24 £ 339 3,500 3,839

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2025 nor for the year ended 30 September 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2025 nor for the year ended 30 September 2024.

11. STAFF COSTS

Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Total Staff	2025 £ 233,902 38,660 9,117 281,679 2025 7	2024 £ 289,401 18,900 5,116
		313,417
		2024 8

The trustees consider the key management personnel to be themselves, the Chief Executive Officer, Head of Operations and Finances, Head of Development and the Head of Programmes and Fundraising. Total remuneration and benefits paid to key management personnel during the year amounted to £98,325 (2024: £117,870).

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 348,241 Charitable activities Programmes 35,625 Investment income 1,046 Total 384,912 EXPENDITURE ON Raising funds 125,274 Charitable activities Programmes 234,955	Restricted funds £ 76,650 - - 76,650 294 227,365	Total funds £ 424,891 35,625 1,046 461,562 125,568 462,320

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
		Unrestricted	Restricted		Total
		fund	funds		funds
		£	£		£
	Awareness	32,530		-	32,530
	Total	392,759	227,659		620,418
	NET INCOME/(EXPENDITURE)	(7,847)	(151,009)		(158,856)
	Transfers between funds	(6,004)	6,004			-
	Net movement in funds	(13,851)	(145,005)		(158,856)
	RECONCILIATION OF FUNDS
	Total funds brought forward	108,584	194,786		303,370
	TOTAL FUNDS CARRIED FORWARD	94,733	49,781		144,514
13.	TANGIBLE FIXED ASSETS
					Fixtures
					and
					fittings
					£
	COST
	At 1 October 2024 and 30 September 2025				7,413
	DEPRECIATION
	At 1 October 2024				6,978
	Charge for year				339
	At 30 September 2025				7,317
	NET BOOK VALUE
	At 30 September 2025				96
	At 30 September 2024				435

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

14. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	Shares in
	group
	undertakings
	£
MARKET VALUE
At 1 October 2024 and 30 September 2025	10
NET BOOK VALUE
At 30 September 2025	10
At 30 September 2024	10

There were no investment assets outside the UK.

Frank Water CIC (company number 05388346) is the subsidiary of the charity. During the year to 30 September 2025, the profit after tax amounted to £17,681(2024: loss amounted to £15,684), with negative retained reserves of £139,087 (2024: negative retained reserves of £156,768).

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors Amounts owed by group undertakings 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income	2025 £ 12,677 34,781 47,458 2025 £ 10,824 263 1,322 19,940 32,349	2024 £ 46,873 44,496 91,369 2024 £ 12,858 - 745 30,999 44,602

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

17. MOVEMENT IN FUNDS

Unrestricted funds General fund Restricted funds Other projects in India Projects in Nepal Beyond the Boundary 2 Earth Cubs Development fund Madhya Pradesh Uttarakhand Himanchal Pradesh TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund Restricted funds Other projects in India Projects in Nepal Beyond the Boundary 2 Earth Cubs Development fund Madhya Pradesh Uttarakhand Himanchal Pradesh TOTAL FUNDS	At 1.10.24 £ 94,733 - 38,348 11,433 - - - - - 49,781 144,514 follows:	Net movement in funds £ 54,764 (6,248) (20,144) (80,970) 7,150 30,502 (16,863) (34,961) (26,219) (147,753) (92,989) Incoming resources £ 367,825 - - - 7,150 32,000 7,558 - 1 46,709 **414,534 **	Transfers between At funds 30.9.25 £ £ (108,187) 41,310 6,248 - (7,989) 10,215 69,537 - (7,150) - (30,502) - 16,863 - 34,961 - 26,219 - 108,187 10,215 - 51,525 Resources Movement expended in funds £ £ (313,061) 54,764 (6,248) (6,248) (20,144) (20,144) (80,970) (80,970) - 7,150 (1,498) 30,502 (24,421) (16,863) (34,961) (34,961) (26,220) (26,219) (194,462) (147,753) (507,523) **(92,989) **

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds General fund Restricted funds ARUP Other projects in India Projects in Nepal Beyond the Boundary 2 Madhya Pradesh Uttarakhand TOTAL FUNDS	At 1.10.23 £ 108,584 5,000 - - 189,786 - - 194,786 303,370	Net movement in funds £ (7,847) - (4,124) 38,348 (178,353) (3,317) (3,563) (151,009) (158,856)	Transfers between funds £ (6,004) (5,000) 4,124 - - 3,317 3,563 6,004 -	At 30.9.24 £ 94,733 - - 38,348 11,433 - - 49,781 144,514

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Other projects in India Projects in Nepal Beyond the Boundary 2 Madhya Pradesh Uttarakhand TOTAL FUNDS	Incoming resources £ 384,912 - 56,900 - 8,500 11,250 76,650 461,562	Resources Movement expended in funds £ £ (392,759) (7,847) (4,124) (4,124) (18,552) 38,348 (178,353) (178,353) (11,817) (3,317) (14,813) (3,563) (227,659) (151,009) (620,418) (158,856)

Description of funds

ARUP

This fund supports work across Frank Water's programming, including the Education & Awareness programme and dissemination of the Global WaSH Basins Toolkit (and App), which includes supporting a new partner in Kenya with training and support in using the Toolkit.

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

17. MOVEMENT IN FUNDS - continued

The balance of the fund has been released to the General Fund as the fund has been expended within the year within appropriate projects.

Other projects in India

This fund is made up of donations supporting our Systems Strengthening work created and delivered in collaboration with local partners in India, including Chhattisgarh, Madhya Pradesh and Uttarakhand.

Projects in Nepal

This fund is made up of donations supporting our Systems Strengthening work created and delivered in collaboration with local partners in the Kathmandu Valley in Nepal.

Samerth

This fund is made up of donations supporting our Systems Strengthening work created and delivered in collaboration with this local partner in the state of Chhattisgarh.

Bala Vikasa

This fund consists of donations to a project providing clean sustainable water supplies to disadvantaged communities in the Indian state of Telangana.

Beyond the Boundary

This fund aims to improve watershed-scale stewardship in India's urban peripheries by integrating data, aligning stakeholder interests, and providing best-practice guidance for collective action, ensuring safe water for all within the watershed.

Uttarakhand

This fund consists of donations restricted towards our Uttarakhand project of reviving Himalayan springs by educating women on water resource management systems.

Madhya Pradesh

This fund consists of donations restricted towards our Madhya Pradesh project of empowering and supporting communities through the implementation of water security programmes.

Transfers

As in the prior year, any over-spend on restricted funds was directly incurred by the general fund.

Comparative analysis of net assets between funds, are as follows:

Fund balances as at 30 September 2025 Unrestricted Restricted funds funds £ £ Fixed assets 106 - Current assets 83,768 - Current liabilities (32,349) - Total net assets 51,525 -	Total funds £ 106 83,768 (32,349) 51,525

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FRANK WATER PROJECTS

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025

18. RELATED PARTY DISCLOSURES

Frank Water Limited is the trading subsidiary of Frank Water Projects.

During the year, Frank Water Projects received £15,294 (2024: £15,483) from Frank Water CIC in respect of rent and overheads, and £34,781was owed to the charity at the year end (2024: £44,496 owed to the charity). Of this balance outstanding at the year end, £25,000 consisted of a loan from Frank Water Projects to Frank Water CIC to support their working capital.

19. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

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