REGISTERED COMPANY NUMBER.. 05051S06 (England and Wales) REGISTERED CHARITY NUMBER.. 1123285 CHARITY REGISTERED IN SCOTLAND: SC041584 REPORTOF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENt)ED 31 DECEMBER 2023 FOR WILD FISH CONSERVATION A COMPANY LIMITED BY GUARANTEE Langdowns DFK Limited Slalutory Aud51or Klngsgale House, Norih Wing. Ground Floor Newbury Road Andover Hampshire SP10 4DU
WILD co SE VA 10 CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Pagg Report of the Trustees 10 9 Report of thè Independent Audltors 10 10 12 Statement of Flnanclal Actlvltles Balance Shèet Cash Flow Statement 15 NotBS to the Cash Flow Statement 18 Notes tr& th• Flnanclal Siatam8nts 17 10 27
WILD FISH CO SERVATION REGISTERED NUMBER: 05051506 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Th& Trust68s of Wild Fish ConseNation (WildFishl who ara also directors of the charity for thg purpos88 ol the Companlès Act 20(, present fheir rewrt wilh the finandal slatements ol Ihe charity for Ihe year ended 31 December 2023. The TIu8le¢s have adopted the prc¥vlslons ol Aecounling and Reporting by Charilies.. Slalemenl ol RQMMended Practice applicable lo charille5 preparing thelr accounls accordancE wllh the Financial Reporting Standard applicable Sn Ihè UK and Republic ol Irtsland (FRS 1021 (effective q January 20191. OBJECTIVES AND ACTIVITIES WlldFlsh's ChaTfjtable Obje¢tlves 1. To promole for the public benefil the conservation. protection gnd suslaln8ble explDltalion of salmon, Iroul and other rish stocks of United Kingdom origin, 8TKJ Ihe consetvalion and impTovemenl of th6 8quallc environment and ecosystems necessary lor ihein lo Ihrive. 2. The advancement of wblic Ltydu¢alSon rolaling lo Ihts con80rvalion of Ihg aquallc envlronment and the inleraclion between human beings, the environmonl and fish, whelh8T through angling or olhetwise., 3. To promote for the public benefit, Iialning in walei safely, knowledge of the aquallc Énvlronment and identificalion of and respect for ils depèndent specl88, Including fish, whelh8r through angling or olhernwse., 4, To prornole research and lo publi8h the useful results Ihereol in iespecl of Iho laclors affectÉng IhB natur81 and artificlal regeneration ol salmon, Iroul and other fishorios in tho Llnilod Kingdom including the general ecology of rSver catchm&nts and Ihe marine enviionmenl and the effect of commercial, industrial and land manauèment praclices on aqualic ecosystems. WlldFlsh's Work Our charilable activities have been agreed after consideration lor the widest pos8iblg public b8n8fil that can bè 8chlèved through our work. These fall into ftsur m(iin ¢alegories.' Management and conservation of the kqualio environmenl, both ffeshwaler and rnarine Management and conseNalion ol all fish species ol UK origin Scienlific Research into relevanl issues to support Ilie Charity's advisory and inlluencing work Educalion Page 1
WILD FISH CONS VATIO REGISTERED NUMBER: 05051508 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECENIBER 2023 INTRODUCTION WildFish was established In 1903 (originally $8 th8 Salmon & Trout Associalion. then Salnion & Tioul Conservallonl to address the damage dong lo our rivers by the polluling effects ol the Indusirial Revdulion, Since then, WildFlsh ha8 worked lo protect fishglies, f15h stocks and the aquatic enviionmenl for currenl and lulure g8n8r81ions whelher of angle[8 or the widor public. In March 2008, WildFish w&5 uranled ch8ri(able status. piimaiily because we were 8Ne lo show Ihal the benefits of our work went lar wider than lust our mÉmbershlp or historic larget audience. Public benefil 15 a major focus. in Ihal Vv)IdFish's ch&ril8blè obj8c1kv p81mll the use of ils professional influencing and $entifIC skllls lo address E¢ll issues affecting the m3n8gemenl and piol¢clion of salmonid and olher fish species ol UK OTin, as w811 as the water, and the enviionillenl upon which all aqualtc life depends. It benefits everyone who has an iTil8r8sI In th6 current and lulure wellbeing ol our Trvors. lakes and wetlands and the many varlelies of wildlife they supporl. WildFi8h'8 publSc benefit has been enhanced since 2009 by membership ol, and conlribulion to, ihe Wfjldlile & Countryside Link, an umbrella group of 82 environmental chaTilies with a comblned mombership of over 8 Inllliorb people, and ils sister organisalion In Wales, Welsh Environmènt Link. We support 811 our poIleS with sound. peer-reviewed science, eilher from our own rèsources or Ihrough our numerous partfjer5hips wllh olher like-minded organisalions, and, if needed, legal advioe. These are both vital factors in contemporary PDli¢y and decision-making proceBses', the first lo ènsur6 that our conclusions are backed by ciedible sclènce, and Ihe second to remind Governmenls and agencle8 of Ihelr slalulory responslbllStles lowards Ihe aquatic 6nvironmènt and fish stock conservation. WildFlsh also has a long history of educating peOe from all backgrounds and ages, not only in learning how lo f18h bul also in a broad understanding of the aqualic environment. Our SrnartRivers inilialivè trains volunteer cilizen scientists lo Jnor)ilor and idenlify aqualie invertebrates to species level, Ihereby allowing Ihetn lo analyse Ihe waler qU£ilily in Iheii local rivérs and gaug6 the health ol Iheir ecosystems. We publish educalional iepotts and scleniific literature reviews on OLJr wèb 8ltè. W6 beli8ve this has imporianl soc1al as well as environmental benefils lo Ihe publlc who wll benefit from a gieal8T under81andlng of Ihe issues involved In Ihe aqualic environment. As a result, they will h8vè a better appreciation in their personal lives ol the IMpWtan of a healthy environment and how they Gan hélp schlov&11. The Charity wmplles wilh its duties as required in Section 4 of the 2008 ChaTilies Acl and pays du6 regard to guidance publlshed by the Charity Cr)mmission. always acting for the benefit of th8 public. Page 2
WILD FISH CONSERVATION REGISTERED NUMBER: 05051506 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE Report ol Opèratlon$ for 2023 WildFish focussed on a number ol major issues Ihls year. all of which a¥e aligned wilh ou¥ charltaNe obleotives. We have succeeded in rnakSng good progress in all cireas. This is thanks lo the 118meDdous hard work and ingenuity of our staff coupled wllh re501ule support from our members. donors and oth818, includinu watary NGOS. Salinon Farm Reform We conllnued lo campalgn lor an Ou(rht ban of Scolland's open-nel salmon faTmlng, The Scollish Government's refusal lo inlfoduce effe¢livé regulallon of the open nel salmon farming indLtslry despite two Pafliatnenlary inquiries calllng lor Immediate aelion h&g 16fl us to with no alternative. We will assess the enviionmenlal perfomance of other salmon farming technologies as they emerge. We conlinued to provide inconlrovertible eviden of Ihe threat lo wlld salmonid populaliws from sea lice, escapes and pollullon produced by open-n81 lamis. Our tsnamblguous slance has been well received by bolh envlronm6ntal groups and the general public. We have conlinu8d lo dèvèlop our Off Ihe Table campaign calling on restaurants and other8 in the hospil8llly industry to slop serving lartnod salmon. We have slgned up over 250 chels- both in the UK and irilernalionally. We still Wofk to oppo88 the expan3lon of tha salmon 18rmlng industry and improve regulation in the shorl-lerm. We have helped overturn planning approvals. To raise public 8wareness and understanding of Ihe15sue5 affectlng wild salmon an¢f sea Iioul from the Impacts ol open- cage salmon farming, we conlinue lo be qxlrem91y aolive on soclal media (especially Instagram), in the printèd mèdla (The Herald and Scolsmanl and on radio and lelevislon programmes Ilncluding local Scollish TV and BBC Counlryfile and Farming Today). North Atlant1¢ Salmon Conservation Organ18ation INASCOI WildFish Works inlemationally on wild 8almc)n issues Ihiough NASCO, a pan-North Atlantic goverrmnenlal forum for tho conservalion of wild salmon. Thi8 PTOVKle8 us with us8lul Influènce Inlainallonally. SAMARCH- Salmonld Management Around the Channèl WildFish is one 0110 partners in the SAMARCH projecl- a É7.8m European Unlon funded project which concluded Irk 2D23. The project provided new Iranslerable scienl¢fic evidence lo inform the management of salmon and sea Iioul Isalmonids) in the esluarios and coastal wolers of the Engllsh and French sides ol the Channel. A8 paTI of ils role. W11dFi5h was Involved in work to raise pulAic awareness of Ihè résults of the SAMARCH research Pfojecls and used these results lo influence Governmenl policy on inshore fi$h¢rlo8. Water Actlon We made our legal challenge lo the Govemmelll's Storm Overfows Discharge Reduclion Plan by way oljudicial ieview thè Hloh Court in JLJly 2023. Our contention was Ihal Ihg plan r15ked undermlnlno èxisllng legislation and would fail lo deal with the underfying problems of our sewage nelwork in 8 comprehen8e and limely manner. Though we did not succeed in overiuri)ing the plan, the judgement m8de11 c16&r thal the existing legislation to deal wllh th& pioblems of our 5gwage network 51ands. and Ihal the Governm8nl and ils règulators n)ust act tts implement the law expeditiously. We campaignèd 8nd lobbied lo ensure the required aclion lo gnd illegal sewa9e dlscharge wa5 taken. Onè oth6r maln body of work in Engla1 and Wales In 2023 was Én water resources preparing eviden lo scruliTIIZ8 and cha118nge Ihg waler companies, lorthcoming Water Resour Managemènt Pl8ns In a series of public consullalion5. We wlll be using th15 work lo grow public awarene88 ol the critical Slate of tsur national water resources. Page 3
WILD ISH CO SER EGI ED BER: 5051606 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 SmartRlvèr8 SmariRiv6rs Is our eit1zeSepen¢e development of the Rivarfly Cènsus Irainlng volunleeis lo s8mp16 at)d tdentify aqu81ic inv¢rtebralo$ lo provlda the data lo establi8h (he hoallh or othèrwise of Iheir local TiVOr$. We made Ivrlher strong progress In 2023. Al th8 year end, there wer& 95 rivers covered across the UK in collaboration wilh 30 local gioups- up from 55 rlvor8 and 20 Ioc81 groups in 2022, We have Continued lo expand our nalion81 coverage with a growing hub network In Scoll8nd and Wales, We incr&as6d our training and support effort over th6 y&8r with Ihe recruilmenl of a Irosh waltsr ecologi81. The SmartRivers Iraining course Is officially certified by the Institute of Fisheri&8 Manag8menl IIFMI. Tiansfoiming the Riverfy Census melhodology inlo an accessible. bul scier)lifically iobusl, volunl8eT-friendly foTmal was a big challeng8. This certification gives us reassurance that our approach has been successful. Our free, open-acce8s, online portal which enables all SmartRivers data lo be uploaded, slored, Inlerrogaled and downloaded. continues lo expand. Thls dalabase provides a valuable public benefit lor all wncerned with cse[vatIOn of Ihe water environment. Our dat& has been instrumenlal in helping Save Wlfindermere lo rampaign to reduce sewage pollution in Vlfjndermere. Wales WildFish Cymru is represenled on Wales Environment Link WELI. We worked through Ihe year ttr Influence Welsh Government to provide improved prolection fo¥ salmon and sea Iroul in its SAC rivers 2nd elsewhere. We collaborated with Fish Legal to require the Welsh goveinmenl lo act lo prolecl Ihe River Wye catchment from phosphate pollution slemmlng from Inlenslve poultry and other larmlng activity. Oiher WildFish pollcy work We continuèd lo be active on ehalk str&ams our staff had key rol&s in Ihe 2023 Chalk Stream Restoration Plan, 8gcicullural policy. barriers fo migration, hatchaties. predation and beavers. We often undertake this work as part ol Ihe Blueprint for Waler Coalition under the Wildlife & Countryside Link. We also have a seal or) Ihe England Fisheries Group. the EA'S W21er Leadets, Gioup. which covers 811 environmental waler155ue5. Sclèncè OnÈ maln output is th6 Invertebr&le data on water quality from our SmartRNers Inllialive. INe have developed and continu8 to expand gur national on-line database ol the locally deiived eviden supplied by the Sm(IrtRivers' volunleers. This database provides evidence to 2s51sl local river restoration projecls and asslsls our lobbying for improved water quality and ectssyslem health that is belter able to support abundant wild fish populations. Our fresh water ecologist is assisting ourvolunleÉrg In Inl6rpretlng the data and derlthng acllons for improvemenl. W& also conlillued lo devetop Dur web-based heal map of $81mon farm sea lice levels lo provlde a plalfoim to analyse rank farm by larm perfoTmance, Thls tool Is providing a valuable pollcy 8sslst as well as edvcating the public in the impact ol sea lice from salmon farms. R6POrts on thè impact of salmon lamiing on wild salmon and sea troul and several educallonal films have bgon produced alongside Ihe heat map. We were active in a number of olhBr issues such as cheTllical pollution and we try lo support a11 our pollcy work wSlh sound scientific eviden, We source data from r8levanl p8èr-revlewed papers from across ac8demla and Independen( prolessionals lo supplem8nl Ouf own Èvidèncè and conllnua to respond to eonsull8lions where 8ppropriale. Page 4
WILD FISH CONSERVATION REGISTERED NUMBER.. 05051508 REPORT OF THE TRUSTEES DED ECE BER 2023 Education As reported, our STnartRivers inilialive now118ins vo1unleer citizen 5cienlisls lo Saniple and Idenllfy aqualic inveriebrales. W¢ had wovided volunleets wilh over 4,500 hours of Iralnlng by thè end of 2023, Th15 Iralnlng enables them to analyse the ecosystem h8allh in their local rivers in linè wllh Environment Agency proltrcols, as well as to idenlify Ihe insec18 down to 8pecie8 18v811o give an sccurale 8ssèssmenl of a river's health. This a signifieanl new educalion resouice for English rivers which we have also now pul into uso in Scotland and Wal08. envisago Ir8lning many more citizen scientists over Ihg Goming years across th8 enllro UK. We continued to upgrade the educalion pages of our w6b s118, Includlng irislruclion video8 connected to SmartRivers as well as an oveNiew ol our wider work. We are al80 incre8singly using infographic8 to more èaslly explain the major Issues we are addressing lor the proleclion of rivers and wild fish, Link8 through lo mole del84ed explanBtions allow visitors of all ages lo delve deeper into issues if they so wish, down lo scientific papers where relevant- gnd our work lo address those Issues. FINANCIAL REVIEW Prlnclpal fundlng sources Members subscriplions and donallons Granl-making Trusts, including the John Ellerman Foundation and Esmée Fairbaim Indivldual donations and bequests Fundraising events. inoluding an on-line auction Irlvèstmènt pollcy and obJèctlv68 The Tiuslees have considBred the most approprlate policy for investing surplus funds and ernploy th8 seNic8s of Can8ccord Genully, with Ihe objective of obtaining both income and capital growth. The inveslmenl slra18gy aims to perform above the rale ol Infiallon and allempls to generÈte balaneed relurns through diversifd inveslmenls, in line with a Socially Responslbl8 Invèstmanl pollcy, wllh a maximum equity weighting of 60Qk. The valuation ol WildFish's Inv6slm8nl In the fund as Al 31st December 2023 was £321.7751£369,15g as al 31st Dember 20221. The Trustees keep the invesltnpnl under regular review. Flnancial Performance WildFish's res6rv8s wèr6 £55of,159 al 31 December 2023 <£691,731 al 31 December 20221. This decSine 18flocled a plannèd draw down ol surpluses genèrated in pVIouS years. Our reserves sland ix excess of our slaled policy of providirTrg six monlh$' ¢over of bysiness overheads. Re81ricled u88 fund8 aré 8cwunled for 8nd appllÉd for lh6 sole puvpose for which Ihey aTe provided. WildFish h88 ntsl hlsloi1¢84y rec&lved, or soughl, financlal support Irom Governmenl or its Aggncies. bul the Trusle8S reserve Ihe iighl lo awepl public funds IN the lulure for re5eaTch projec15. especially Ihose Ihat have the potential lo Inform official decision-making over relevaDI Issues. WildFlsh w511 not accepl any financial supporl which compromises its campaigning aclivilies. WildFish sets pay and r8muneiallon of key personnèl in line wilh the current market in olher simllar-slzed charilies and environrnenlal ganISatiOns. Salaiies 8FQ reviewed annually by Tw51ees. PRINCIPAL RISKS AND UNCERTAINTIES R&saeS policy It is the aim of the Iruslges lo maintain reserves al a19vel that would pèrmit thè charily lo cover business overheads for period of at leasl six months in the case of unfor88een evenl8. The Irusleeg eonslder thal a level of six months prtsvides sufflclent lime lo scale back activlli&s If thère was an un8XP8eled r6ductl(trn in funding. At 34 Decernb8T 2023, ioserves amounted lo £555,159. Six tnonlh5 51aff and business overheads costs amounted lo £361.000 so Ihe slated rosetVg8 l1¢y15 mel al the year end, The resl¥icled (unds recèivÉd w6re spent on Ihe area 8pècified. Unreslricled futxls are used lo fund projects wheTe Iheig is a shortfall in reslricled funds. Page S
WILD FISH CONSERVATION REGISTERED NU BE 051506 REPORTOF THE TRUSTEES FOR THE YEAR ENDED 21 DECEMBER 2023 FUTURE PLANS Plan5 for the Future INildFlsh's slfalegy is lo mainlain its focus on a small number of critically important issues. as we did In 2023, and lo work wlh other organisations principalFy the BIu8prinl for Waler Coalition and Fish Legal where relevant. These will includ&'. Salmon Farmlng Raform WildFlsh'$ work for Ihe foreseeable fulure will be lo campaign for closure of opeTrnel salmon farms lo protect wlld Allanlic salmon and se8 Iroul from inleraclions with farmed salmon. We are now campaigning lo petSLJadé chefs, food wfiter8 and olhei influencer8 lo boycolt lam)ed salinon. Alongside this work, wo will continue to campaign lor.. Scollish Government lo adopt l6g81 responsibilily to proleet wld sslmon and sea Iroul from the impacts of salmon farming and lo ifflpose much Ilghter regulalion on the industry with the express purpose of protecting wild fish. An independeiil agency lo carry out Ihe regulalttin agaln51 se8 Ilce Irlgger levels Ihat protecl wild f18h, with lh& sanction ol forced hawvesling on p8rsis18nl offèndèrs. A moratorium on eslablishlnglexpandin9 latm5 in Sensitive locations unfl Ilghler regulation is imposed on the Induslry- and the movemerbl of existing fami8 away from mfgrallon roul88 Water Actlon Our work is focussed on using evidence from SmarlRivers and walèi companles to seek local and national Improvements lo water qualily and water quanlily. Much ol this work will highlight the urgent need for enIOrment of raft of existing legislation to prolecl our wild fish and Ih8lr waters. We have complaints lodged wilh the Office foT Environmental Ptoleclion IOEP) on the fallure ol water companies lo Ireal sewage before di5Lharging il inlo rivers. We ale planning furth&i aollon on th8 b8ck ol our invertebrate dala. Wè 8re worklng to encourage Government and Waler Companies lo lake urgent action lo solve Ihe water supply delcll. Lèek ol Inveslmenl in allernalwe sources of supply means our Tver5 aio al risk from over-gb51racllon tlmes of drought. We are actively lobbying lor the Govemmenl to tackle themical pollulion from agrieullure as well as industry. We will be reporting gn Ihls over the year lo educate and inform Ihe public ol this dire Ihr881 Its river8, h$allh. SmartRivers We 11 conllnue to establish local hubs under our SmartRNe¥s ivilialiv hll s.'Ilwildfish.urglprojecUsmtirt-r*versl training volun1è6r cllizen scienlisls to sample and identify aquatic invertebialBs and lo ana5yse the iesulting data lo d8t8imin6 thè health or otherwise of local riveis. Our largol for 2024 is lo expond our hub5 towards a goal of 40 Ih¥oughoul the UK and lo expand our national dalabase of the resuliing dala wilh op8n 8cco8s for all to inform bolh local and national pollcle5 to prolecl rlvÈrs. wld fish and aquatic life. Wales We will continue lo combat agricultural pollution In 2024. In particulai, we will continue lo grow SmartRiv8r8 In Wales. Thi8 will give us thB local evidence we lequire lo campaign for Welsh Gaverllm8nl lo providé sufficlenl resources to protect Iragile riveiin¢ habilal. We remaSn concerned that Nalional Resources Wales INRW)- the Welsh onvironmgnlal regulator- has insurri¢i8nl rasoure68 avallablè lo do its job. Page 8
WILD FISH CONSERVATION REGISTERED NUMBER.. Q5051506 REPORT OF THE TRUSTEES EYEARE DED 1 DECEMBER 202 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charily is controlled by 118 goveining documenl. ils Memorandum and Ariicles ol A580cialion, and conslllu185 8 limited company, limited by guarantee, as defined by the Companies Act 2006. Organlsatlonal Structure Approximately 8,000 individtsals - including 3,900 ordinary and Life members and 190 SYndaleS and clubs las al 31 December 20231 support WildFish'8 work. Members pay a minlmum aniiual or lile subscription lowaTds the woik of the Charity. plus. in mary cases. add donalions. A Board of Trusle&s hBS overall responsibilily lor running WildFish. The Board appoints TTuslee8, and such appoinlments ère advised fo the members of the Charily al Ihe Annual General MeelirvJ. The Trustees appoinl IhBir own chaiman from within Iheir ranks. Trustees are appointed having due conslderalion lo the skills (hey can bring lo the organi5aliDll and also an individual'5 blanding and fitness lo become a Trustee. The Chief EXelIve and Ghaiiman Induct new Truslees by outlinlng Ihe nature of the role. what Is expected from a Trustee and the workings of the Challly. The Trustaes h8ve responsibilily for running the Charity and for the oversight of the aclivi1188 of the officers and èmploye6g. Fivè Èlècted ExecutNe Vice Presidents keep a watching brief on all aspects of the Charlly's operation and £dvise both tho Chaimian and the Chief Execylive. The Charlly's staff Is headed by Nlck Mèasham, Ihe Chlel Executwe, and SUPPCTrrted by Dr Janina Gray. Deputy Chief Execullve, nine other staff membèrs, and fwo consull8nls. A larg& number ol volunteers also assist fhe Charily al national, r6gional and tocal levels. R18k managemont Tho charity endoavours lo ensure Ihg Boaid of Trustees has 8 blend of profÈ8slon818xp8rtlse through which rlsk can be priorilised and managed. A foimal Risk Regis18r has bÈ8n compllÉd 8nd onè Trustee has responsibilily for overseeing the regular review and update of Ihe documènt. Thè full Board ol Trustees rèvi6w the Risk Register al least annually. The Ri8k Register covers goveinance and management. opeialion81. flnanclal, external and compliance risks and is Teviewed in detail annually. The opportunity is always lgken lo recognise Ihe signlficanc6 of risk factors and where appropriate idenlily ways in which they can bè miligal8d. An annual budget is prepared and approved by Trustees arKI managetnenl accounts are produced on a monthly basis. Quarterly perf0rrnan Is reported upon by the Tioasui81 and discussed al Ihe quarteily meeting ol Truslee5. The charily has no borrowing and principal asséts ar8 held in cash and In an Inv6Stment fund managed by Canaccord Genuily which is kept undpr quarterly review, Computèr Systams arè backed up regularly and wilh offices In Folkeslone and Salisbury risk frorn loss ol office is rninimi8ed. Staff mo&lly work from home. WildFish continues lo operate within ils slalod re$eJves policy 1.8. mainlaln resetv6s at a 18vèI Ihat would permit thè chalily lo covw business overheads for a period of al lea81 six mtrnlh8 In Ihe case of unforaseen events. Solieltors and accountants are consulted for professional advlc8. In a small organisalion succession planning is difficult. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05051506 (England and INalesl Regl¥tered Charlty numl)er 1123285 Regl8tèred offlce KinusgBle House, North Wing. Ground Floor Nbury Road Andovar Hampshire SP10 4DU P8g6 7
WILD FISH CONSERVATION REGISTERED NUMBER: 05051506 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Prlnclp81 addrèss Ramshill East WThnlerslow Salisbury Wiltshlre SP5 1QF Tru3tses Mi Williarn D A Hicks KC William F Sandlord Mi Neil H CoopeT Mr Sleve Edge Mi J Tarquin Millinglon-Drako Mr VIGIOT N B8amish Mi Sirnon Browiie Mr Clement Booth Ms Angela Webb Mr Sirnon Clark Mr Robert J Hollis Mr Philip A F Sludd Mr Carl Sayer Prol lan Cowx Mr Philip Chessum MrA Digby Flower Miss Lucinda Mantle Mr Robert J Wallon - Chalman rètired 24.11.23 rellr6d 10.03.23 appointed 10.03.23 appointed 26.02.24 Chlef Exècullve~ Mr Nick Measham Company Secretary Mrs Debble Greagy Audltors Langdowns DFK Llmiled Slglulory Auditor Klng5gale Houso. North Mhng, Ground Floor Nawbury Road Andover Hamp8hii¢ SP104DU Bankgrs Barclays Bank pl¢ Leice81ei Leicesloishire LE87 2BB Solic¥tor8 Wilsons Solicitors LLP Alexandra House Sl Johns Slr8é1 Salisbury Will$hlr& SP12SB Charlly R•gl8tered In Scotland The chailly is also registered in Scolland.. SC041584 Pag6 8
LD FISH CON VATI REGISTEREO NUMBER. 06 EE NDED FUNDS HELD AS CUSTODIAN TRUSTEE Dtjrlng Ihe accounlSng perlotl and as at 31 DÈc8mber 2023 no lunds were hdd as cuslodlan Irustse, STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who ar& also tho directors of Wild Fish Cons&rvatlon lor Ihe PUfpose¥ ol comp8ny18wI are responsib for prop8rlng the Report ol the Truslegs and ihe financial slalemenls in accordancè with #pplic8bb law and Unilgd King(knm A¢¢ountlng Standards (United King(lom Generally Accepted Accouftlhg Pr8clicel. Comp8ny law requlres th& trusle88 Io PTgpare financlgl stalem8nts for each flnanclal yearwhlch glve g tw& and falr eW ol thè stato ol allairs of the charilakAg MpanY and of the incoming r960ur¢es and application of rèsources, Includlng the PfKJ exp&iidilure, of the charitsblo ¢thnp8ny for that period. In p¥epaTing those finandal sl8t8menls. the Iru3leg8 4r¢ rgqulred to selecl suitable accounllwvJ pollcles and then apply thèm conslst8nty'. obseNe the melh(xls and pilnclplès In the Charity SORP.. makè ludgemenls and èstlmatès thal are iea8onabte &F¥I pwdent. prepare (he financi81818tèmonts cfft the gr)Sng CL)nrn ba&s unless il is thapproprlato lo presume that tho charltable company will continuo In business. Tb8 Iwslees are re8ponslbl& for keeplng proper accounting racords which disclosè with wsonable a¢cura¢y al any Ume Ihe finanbi(Il positson ol Ihe charitsblè company and lo en8blp them lo ensure th81 th8 fin8ncial slolements comply with Ihp Companles Act 2006. Th8y 8r8 also responslLIg for saleguarding Ihe as88ls of Ihg charilgblu company and h8nGg for laklng reasonable 818p¥ for Ihe prevenllon and dglectlon of Iraud and other IrregalIeS. In so far as Ihe Iruslee8 ar8 awam.. there Is no relavant audll Infomialkin of whlch the charllabla companys aud110 aro unaware,. and the irustees have taken 811 steps that they ought lo h8ve t8ken lo make themsel aware of any relevant audit Inlormalion ond lo establish Ihal the auditors are aware of thal Informallon. Momb9rs of the Board of Tru¥tO08 Membgrs of the Board of Tru81888, who era dlrociors for the purpose of company law 8nd Twslees for the purpose of chaTlty law, who seNed durlng the ygBr and up lo the da18 of Ihl¥ report ar8 sol out on page 8. AUDITORS The audllors, Langdowns DFK Llmltad. WHI be proposed for rg-appdnlrnenl Bt the forthcomlng Annual General M8è1kng. This report h88 been prgpared in accordae wllh Ihg speual prov181ons of Part 15 of Companles Act 2006 r&l81ing to Sma ¢omp8nles. Approved by ordar of the board ol Iru818è8 on and signed on Ils behalf by- I WDA Hloks KC- Truslee Pogg 9
REPORT OF THE INDEPENDE WILD FISH GONSERVATION ALID ORS TO THE TRUSTEES AND MEMBERS OF Oplnlon We have &udiled the finanal slalements ol Fish Conservation Ilhe 'charilable oompgny'l for Ihe year ended 31 December 2023 whleh comprtse th8 Slalèm6nl of Finanelal AclNilies, th6 Bal8ne8 Shèèt, Ihè Cash Flow Slalemenl and notes to th8 fin8nc181 slalemenls, indudlng 8 summary of sSgnllicanl accounting policies. The fin8nci81 rèporting Iramework that has b¢on applied in Ihoir pr&p8ralion Is appllcable law and United Kingdom Accounting Standards, incknding F¥nancial Reporfing Standard 102'The Financial SlandaTd gpplicablg in Ihe UK and Republic ol IrelarKJ' IUnSled Klnudt)m Generally Accepted Accounting Ptacllcel. In our opinlon the financial slalemenls- uivo a Iiuo and fair view of Ihe slate of the chawilable company'8 affair8 as al 31 Dec8mbar 2023 and ol Ils1n¢trmSng rgsouice8 and application ol re8ource8, including 118 iiicome and expgndilure, IOT the year Ihen ended., have been proporly prepared in accordance with United Kingdom Geiierally Accepted Accounting Praclicg,. and have been prepared in accoidance wilh Ihe requiremenls of the Companies Act 2008. the Charities and Truste8 Investment {Scolland) Acl 2005 and Regulation 8 01 the Charities Accounts (Scollandl Regulation5 2006. Basis for opinlon Wo coi)ducled our audit in accordance wilh Inlemallonal Standards on Audlling IUKI IISAS IUKI) and applicable law. Our responsibilities under those slandards are further described in the auditors. TespL¥nsibililies lor Ihe audit of the financial slalemenls section of our report. We are independent of the charitable company in accordance wilh th8 81hical requirements that are relevant to our audit ol the finaneAAI slalemenls in the UK. induding Ihe FRC'S Ethical Standard, and we have luifilled our other ethical responsibililies in accordance with these requiiemenls. We believe that the audit eviden we have obtained is sufficlent and approprlale to provide a basls for our oplnion. ConcluslDns relatlng to golng concern In auditlng the financlal statemenls, w6 have concluded that the trusle6s' use of the golng concern bRSiS ol accounling in the pfeparalion ol the financial slatemenls is appropriate. Based on the work we have performed, we have not Idenllfieil any mglerial uncertalnlies relallng lo events or condltions that, Indivldually or Eolleclively, may casl 51gnlficanl doubl on the charllable company's abllily to contlnue as a going concern for 8 perlod of at le251 twelve monlhs from when Ihe financlal statements are authorfsed lor issu&. Our responsibilities and the responsibilities of Ihe Inislees wilh respecl io going concern are described in the relevant se¢lion5 of this ieport. other Informatlon Thè Irusle68 are responsible for the other information. The other inlormalion comprises Ihe infom)ation included in the tsu81eès annual report, olhor than the fin8nclal statements 8nd our Rèport of Ihe Independenl Auditors thereon. Our opinion on the financlal stalemenls does not cover the other Information and. 8xcepL to thè exlenl otherwise explially staled in our report, we do not express any form of assurance coneluslon thereon. In connecllon with (wr audll of the finan¢lal stal8menl$, our r&8ponslbilily is lo read the other information and, in dolng so, consider wh8lh@r Ihe other inloiTrialion is material inGonsi&leiil with the financS8151alemenls or our knowledge obtained in the audit or otherwise appears lo be materially m155laled. If we Identify such materi31 Inctsnsislenciès or apparenl malorial misslalemenls, we ar8 required lo determine whelher Ihls glves dse 10 8 materlal mlsslatèmenl In the rinancial statements Ihemselv8s. If, baséd on th8 work we hav8 pérformad, w8 conelude that thera is a material misslatemenl of this other informallcin, w$ are required lo report Ihgt f8cI. We havo nolhing to ieporl In this regard. Oplnlons on other matters PTe8¢rlbed by the Companle3 Act 2006 In our opinTron, based on the work undertaken the course of the audit.. the informalion given in th8 Report ol thè Trustees for th8 financlal yèar for which thè financl81 st8t6mentS are prepared is con81slenl with tho financi81 slat¢monls', and the Report of the Trustees has been prgpared iii accwd8nce with applicable18gal iequiremenls, Paue 10
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF WILD FISH CONSERVATION Matters on whlch we are requlred to report by exceptlon In th8 Ilghl of the knovdedge and und8rst8nding of Ihe charitable company and Ils environment obtained In thé course ol the audit, w8 have nol1dèntified material misslalemenls in the Report ol the Trustee5. Wg have nothing lo report in resP8cI ol the following tnalters1n relallon lo whlch where Ihe Companies Act 2008 and the Chaiilies Accounts {Scollandl Rogulalion5 2006 requlres us lo rèport lo you If, In our oplnltsn.. adequate awouriling records havé not been kept or returns adequat& for our audit have not been received Irom branches nol visited by us.. or the financial slalemenls afe not in agreement wllh the accounting records and r¢lurns'. or Certain di8closures of Iruslees. remuT)eralion 8pecifiEd by18w are r)ol made., or we have not received all the inloriiialion and explanations we require for our audit,. or the Iruslees were not enlilled to prepare the fiT)an¢ial 81alem8nls in accordae with th8 small companies, regime and lake advantage ol the small companies. exemption liom the rèquirement lo prepar8 a Straleglc Report or in preparing the Report of the Trustees. Responsibllitles of trLSStees Ag expldinEd more fvlly in Ihe Slalemenl ol Trusl8es' Responsibilities, the Iruslees (who ar8 also thè directors of lh& charitable company lor the purposes ol company lawl are respDnsible fcTrr the Preparalion ol th8 financlgl statements and for being satisfied that they give a true and fair view, and for Such Internal control as the Irusloes doleimine 15 necessary to &nEJble th& prep&r8lion of financial statements Ihal are free from rnalerial misstslemenl, whether due lo fraud or error. In preparing the flnancial stalemenls, the trustees aTe responsible loi assessing the charitable company's abllily lo conllnue &5 a golng concern, disclosiThJ, as applicable, mallers related lo going concern and Lasing Ihe gc>ing concern basis ol accounting unless the Iruslees ellher Intend to liquidate the chRFilable company or lo cea8e operations, or have no r8allslic allÉrnativÉ bul lo do so. Our r8sponslbllltlo5 for the audlt of the flnanclal statements We have begn appoillled as auditor y[er 5ectlon 4411llcl of the Charitiès and Trustee Investment {Scolland) Act 2005 and urKler the Companies Act 2006 and reporl In accordance wilh regulations made under ihose acts. Our objectiv68 8r6 lo obtaln reasonable assurance about whether the financlal slalemenls as a whole are free from malorlal m1881alomenl, whether due lo fraud or error. Lind lo issue ci Report of Ilie Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conduclgd in accoidance with ISAS (UK) will always detecl a malerlal mlsstatement when il exists. Missialernenls can arise frotn fraud or eiror and are considered mal8r18151, Individually or in the aggregate, they could reasonably be expected lo influence the economic decislons of usors taken on the basis ol these financlal statements. Irregularities, including fiaud, are inslan¢es of ngn-compliance with laws and regulalions. We design procedures in line with our responsibilities, oulliried abovè, lo deleel rnalerlal mls8talemenls in respect ol irregularities, Includirig fraud. The exlenl lo which OUT procedurès ale capsbl8 of detecting irregularities, including fraud is delalled below. As pari of our audit plannlng procedures, we identify the signifieanl laws and regulations applicable to the charitable company based on our knowledge ol the oharilable company, the sector In which St operates and Irom making enquiries wilh management. We consider laws and iegulalions where non-compliance may have a material effect on the financlal Elalemenls and Ihose which have a diiecl impact on the financial slalements. We identified that the mosl significant laws 8nd regulations during the yearweie compliaiice wilh bolh the roquiremenls ol the C(*npanies Act 2006 and willi charily law and regulations. Audll wocedures performed by the engag8menl team in ielalion lo laws 8nd règulallons knclude maklng enquires of managemenl as lo any known or suspeGl&d instances ol non-complianco, m8lnlaininu awane$S throughoLJt Ihe course ol Ihe audll as to any indications ol non-compliance, revi8wing legal and professional involces and undertaking a review of thè disclosures in the flnancial statements to SUPPDrting ir)lorfflation and lo d15c105ure checklists. W$ alsrj conslder areas that are al a high81 risk of causing material mlsglat8mont In the financial stalemenls due lo IrrEgularstles. including Iho&e resullillg from fraud and how such Ir8ud may occur. We discuss with senior management the key controls in place lo millgatè the ri$k of fiaud and enqulre 8s lo whelher they are aware ol, or suspect. Iraudulenl 8etlvllies having taken place. Throughout the audit, we maintain an 8pproprlalè level of profèsslDn81 sceplicism when rxovided wilh informalion and explanations. We consider th8 approprlalèn6S8 of slgnificant accounting joumals that were processed during the year, a5ses5 the reasonableness of any significanl accounling e81imalès and consider whether Ihere were any Indicatlons ol blas by management during the yoar that iepresenl a risk ol rnglerial misslalemenl due lo Iraud. We also carry oul analylical procedures lo idgnlily 3Dy unu5tJal or unexpected variances lo expectations as these may be an indication ol rnanagemenl oyei-WKle or manag8menl blas. Pag&11
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF WILD FISH COE4SERVATION Because ol the inherant limllalions of an audll, thère is a risk Ihat we will n¢>1 dele¢l all irregul8rit16s, Including Ihose leading lo a malerl81 mlsslalemenl in the financial sla(emenls or non-compliance with regulalion. This risk increases the more Ihal compliance with a law or r6gulalion is removed froin the gvenls and transactions r¢flecled In the financial slalemenls, as we will bè l&ss likely lo bècome Elware ol instances of non-compllanea. The risk is also grEaler regarding irregularilies occttrring due to fraud rather than error, as fraud involves inlenllon81 concealment, forgery, collusion, omission, or misr8presentaliDn. A luriher description of our responsibililies for the audil of the financial slalemenls is located on Ihts Financial Reporting Council's website al vThvw.frc.org.uklaudilorsr08pc>nslbllilies. Thls description loms part of our Report of the Independent Audilors. Use of our report This report Is made 8CFlely lo lh6 charitable company's members. as a bo(ty. in accordancè with Chaplef 3 of Part 16 of Ihe Companies Act 2006, and to Ihe charitable oomp8ny's Iwslees. as a body, in accordance with regulalion 10 01 Ihe Charities Accounts IScall8ndl Regulations 2006. Our audit work has been undertaker) So Ihal we might slate lo Ihe charllable compRny's mernbeis and ihe Iruslees those mallèrs WÉ are required lo slate lo them in an audilors, report 8nd for no other purpose. To the lullesl exlent permilled bylaw, we do nol accepl or assume Tesponsibilily lo anyone other than the oharitable comparTry and the d)arilable company's members as a body, for our audit work, for this report, gr lor the oplnlons we have foTm8d, Graham Taylor {Senior Slatulory Audllorl for and cin beh851 of Langdowns DFK Limited Slalulory Audllor Eligible lo act as an Audilor in terms of Se¢lion 1212 01 Ihe Companle$ Acl 2006 King$gale House. North Wing, Giound Floor Newbury Road Andovei Hainpshire SP10 4DU Dale,. Page 12
WILD FISH CONSERVATION STATEMENT OF FINANCIAL ACTIVITIES INGORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Tot81 IL)nds Unieslricted lunds R8slrkl8d funds Noltss INCOME AND ENDOWMENTS FROM Donations and legacies 507.350 249.792 757.142 678,288 OlheT trading activities Investment income Other income 101,831 11,754 4,593 101.631 11.754 98,535 7,504 Total 625,728 297,348 923,076 827.437 EXPENDITURE ON Raising funds 143,865 143,865 159,474 Charitabl& activities Gènèral Juiiiors Fund Water Aclion AquaculluFe Red List SmartRivers 338,859 338,859 129 266,148 156,274 296.142 110 13S,950 173,411 129 256,148 156,274 166,538 166,53B 137,948 Total 482,724 578,089 1,060,813 903,035 Nel gainslllossesl on investments 1,165 50 221 NET IEXPENDITUREIIINCOME 144,469 1280,7411 1136,5721 1125,819) Transfers between fund 21 3118631 311,863 Net movement In funds 1167.6941 31,122 1136,6721 1125,8191 RECONCILIATION OF FUNDS Total funds brought fotward 571,631 120,100 691,731 817,550 TOTAL FUNDS CARRIED FORWARD 403,937 151 222 558,1S9 691.731 CONTINUING OPERATIONS All income and oxpendiluie has aiisen Irom conlinulng activllies The notes fomi part of these financial slalemenls Page 13
LD FIS ERVATION REGIS ERED NU BER: 5051506 ALANCE SHEET 2023 Total funds 2022 Total funds Unf8slricted funds Reslrtcled fund8 Noleg FIXED AsseTS Inlanglbl8 assels T8nglbl¢ assets Inve8lments 14 15 16 1,945 321 775 1,863 3,808 321775 7,498 369 159 323,720 1,863 325,583 376,657 CURRENT ASSETS Stocks Debtors Cash at bank 17 18 4,124 73,558 4,124 138,128 135 045 4,454 118,354 243413 64.570 116,066 161,231 277,297 366,221 CREDITORS Amtsurtls falllng due wlthln onE> year 19 {35.8491 111,8721 147,7211 151.1471 NET CURRENT ASSETS 149 359 229 576 315074 TOTAL ASSETS LESS CURRENT LIA81LITIES 403,937 151,222 555,159 691,731 NET ASSETS 403 937 151222 555 159 691.731 FUNDS Unreslrlctpd ftsnds Reslrl¢t6d funds 21 403,93T 151 222 571,631 120 100 TOTAL FUNOS 555IS9 691731 Th888 fin8nolo1 st8iements havg been pryred accordance with the provisions applicable to tharitablg companies Sublecl lo th8 small companlgs reglm8. finan¢i818talements w8t8 approved by th¢ Board of Truslegs on 8nd were slgn8d on Ils behaw by.. Mr WDA Hi¢ks KC- Trustee Tha notes form part of ih&se linanclal slalements Page 14
WILD FISH CONSERVATION CASH FLOW STATEMENT FOR THE YEAR ENDED 2q DECEMBER 2023 2023 2022 Notes Cash flows from opèratlng activltlès Cash uan6rat6d from operalions 166 2871 121.296 Nel cash (used inllprovid8d by operaling aclivilles 166,2871 121,296) Cash flows from Investlng actlvltles Purchase of tangible fixed assets Purchase oi fixed assel Investments Sale of fix6d assét Inv8Stm6nts Intefesl receivad Dividends iecoived 12,384 1246,263 294,812 592 ql.162 (6.657} 1209,720) 192,768 12 7,492 Nel cash provided byllused in) invosling a¢tivilie8 16,1051 Change in cash and ca8h equlvalènts In the reporting perlod Cash and cash equlva18nts at the beginning of tho reporting period 1108,3681 {137,4011 243.413 380,814 Cash and cash equivalents at the end of the porting period The note5 fortn parf DI Ihese financial slatemenls P8ge 15
WILD FISH CONSERVATION NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 RECONCILIATION OF NET IEXPENDITUREIIINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2D23 2022 N•t lexpgndltu¥èlllncomé for thè r6portlng perlod las per the Slatemènt of Flnanclal ActJvitl•sl Adju5tmgnts for.. Depreoiallon chaS (Gainlllosses on investments Inleresl recelvéd Dlvid8nds rec61v6d D6¢reasel{Incieasel in stocks Ilncrease)IDecieaso in doblor8 IDe¢iease)Ilnciease in creditor8 (136.5721 (125.8191 6.074 11,1651 15921 6,736 50,221 1121 17,492) 14,2811 145,3071 330 119,7741 3,4281 Net cash (used Inllprovlded by operallons 166,2871 121,2961 ANALYSIS OF CHANGES IN NET FUNDS A11.1.23 Cash flow At 31.q2.23 Net cash C85h al bank 243,413 I OB 3681 135045 243,413 108 3681 135,045 Total 243 413 q08,3681 135,045 The notes form part of these financlal slalernents Page 16
WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 91 DECEMBER 2023 STATUTORY INFORMATION Wild Fish Consetvalion is a company limited by gtaaranle8, registered in England and W81&s and Scotl8nd, wilhoul share capital, Ihe gUalOr8 being Iho mombers lo the exlenl of £1 each. The company's reglslered number and regi8lered office addies8 can be found in the Trustees, Report. ACCOUNTING POLICIES Basls of preparlng the financlal statements The financial stalemenls of the charitable company, which is a public benefit enlily ur)der FRS 102, have been prepared in accordance with Ihe Charilies SORP IFRS 1021 'Accounling and Reporting by Chaiili98: Slalotnonl of Recommended Prac1[ applicable lo charilies preparing their accounts In acCOrdae with the Financial Reportlng Standard appllcable In the UK and Republic ol Ireland (FRS 1021 leffeclive 1 January 2019}', FIngla1 Reporting Standard 102 'The Financial lqeporiing Slandard applicable in Ihe UK and Republir c)f Ireland, and lh8 Companies Acl 2006. The financial stalemenls have been prepared under the hislorical cost convention, with Ihe exceptlon of investm6nls which are included al market value, as modified by the revaluation of rtain a88els. The finandal stalemenls have been prepared on a going concern basls as the trustees believe Ihal TIO malefial uncertainliBS exisl and that the bud JEted Income and expenditu Is sufflcient with the level ol reservps for the Charity lo b2 able lo conlinue as 8 g(Ang eoncern. The Charlly hes no borrowing Rnd operales we11 wilhin ils sla16d regerves pollcy of m&lnlalning a level Ihal would permit the charity lo cover business overheads for a period of al 8st six monlhs in the case of unforeseen events. The Irustees have considered th& lovol of funds held and the expe¢l8d1ov&l of income 8nd expenditure lor a period of 12 months from aulhorlsing these financial 61alernenls. Tha financl81 st818mènls arè prèsan16d In Sterling, whlch is also the lunclional currency of Ihe company. Income All income 18 recogni8ed in the Slalernenl of Flnanci81 Acliville5 once Ihe charily has enlillement lo the funds, it is probable Ihal the inwme will be recelved and th6 amount can bè measured rellably. For legacies, entillemenl is taken as the eailiei ol th8 dal8 on whlch either.. the charlty is awarè Ihat probate has been granted, the eslale has b8en finalised and nolif5calion has b66n madÈ by th6 6xeeutorls) to lh6 eharity that a dislribulion will be made. or when a dlstiibulion is Teceived from the eslale. Membership iTrcome, Including life membership, is included on a receipts basis. Dcinalions are included when received. Income from grants is recognised when the charity has enli118menl lo the funds. Donatèd facilities and donal8d professlonal S8Nlceg aré recognlsed in income al Iheir fair value when their economic benefit 18 probable, il can bg rne8svrod ieliably and the charity has control over the Item. Falr valu& is deleimined on Iho basis of Ihe value of Ihe gift lo the ¢haiily. For example Ihe amount Ihe charity would be willing lo pay in the open market Ioi sh facililies and 8etvic88. A corfespondlng amount Is r8eogni$èd in 6xp&ndltur6. Expenditure Liabililies are ¥ecognlsed as expendiluro as soon 88 there 1$ a le991 or con51wctlve obllgallon commilllng the charity lo that expenditure, il is probable that a Iransler of economic benefi15 wlll be requlfed In seltlemenl and the amount ol the obligation can be measured reliab. Expenditure 15 accounted lor on an 8ecru3ls basis InLlusive ol any VAT which cannot be reoovered and has been classifièd und&r headings thal augregat& 811 cosl related lo the category. Vthere costs cat)nol be direelly allrlbuted lo pariicvlar headings Ihey have been allocaled to activities on a basis consislenl wilh the use of resources. Ralslng funds Raising funds includes all exFEndilure incurred by th8 chaTily lo ralsè funds for Its charitable pulposes and Indudes costs of all fundraising aclivilies, events and non-chari18ble Ira(Sing. Charltable aclivltle8 Costs of chaiilablo aclwllies are incuired on Ihe charity's educaflon81 opèr8tlons, Includlng suprth costs such as personnel cosis, membership communiryalion, educatloll 8nd tralnlng, thngullaneies and travel costs and costs lelaling to the governance of the charity apportioned lo charitable a¢livili¢s. Governance costs Managemenl and adminislralion related costs. Contlnued... Page 17
WILD FISH CO SE NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- con8 Intanglble fixed a88et Website d6velopmenl, design and conlenl costs are capilalised due lo the website having the capabilily lo bolh relain exi81ing m¢mber$ and allracl new members as well as enhanclng Ihe charity's capabilily of securino future donations and funding and is dassified as ar) idenlFfiable 4)on-monelary asset 101 physical substance. Intanglble fixed assets Websile costs are slated al cost less accumulated amortisation and are amortised, using the slraighl line method. over ils appropriate useful life of 3 years. Tanglble flxed assets Tangible fixed assets are slated al c081 less accumulaled depreclttlSon and accumulatèd impairment losses. Depreciaiion is provided al the following annual rates in ordèr to write off è8ch asset over its estimated u$eful1Sfo. Fixtures and fillings 33% slraighl line Stocks Stocks are valued at the lower of cost and nel lIs?e value, after maklng du¢ allowance ftrr obsolete 4nd slow movlng Ilemg. Cost InLludes cill costs of purLhilSe. Taxatlon The charily Is exempl from corporation tax on Its charitable 8clivllies, Fund a¢¢ountlng Unre8lricled lund8 can be used in accordance with Iho charitable objecliv&s al the di8crelion of tho Iru8lee8. Daslgnèled funds comprlsè unrèslrict8d funds Ihal h8vè been sèl aside by the Iruslees for particular purposes. The aim and use of ea¢h deslgnated fund is sel out in tho nol$s lo th8 finahcial slal8m8nls. Reslricled fL5nds can only be used foi particular resliicled purpose8 wilhin Ihe objects of the charity. Reslriclions &rse whèn specified by the donot or when fvnds gre raised for porti¢ular ie8lricled purposes. The charily fvcognlses that the followillg funds are only held for 8pecific purposes.. Juniors Fund- Fund8 raised by supporters lo fund education and training inilialive8 aimBd aljuniors. Aqu'aculture Carnpaignlsalmon Farm Reform Funds re¢eNed from contributors towards the cost of i•81198110S into thé problems as8np.ialed wilh salmon farming impacl on wild fish, developing and PTomoling potential solutions including seeklng polKy and regulatory change. Walei Action - Funds ioceived Irom conlribulors lowaids investigations into the degradation of chalk and other river habilals, particularty excessive phosphate input from watercress farms, fish faims, agriculture and other sources of diffuse pollution, water abstraction, and action aimed al quIrIng Governmpnl to eslablish the required poliries and Fesources lo re8tore chalk stream and olher river8 to their proper ecological slalus, so seIng them fcK future generations. Riverfiy Censuslsmart Rivers Collecling speues level invertebrate dalR from rivers across England both professionally {Riv8rlly Census) and using trained volunteers ISmartRiversl lo a8cerlain the health of their waler quality by comparing data lo a biomelric fingerprinting model sel against four parameters water flow. organic enrlchmenl. nulri8nl Iphosphalel enrichment and sedimenl. Sea Iroul - fund towards inilialives lo grow awareness of lh8 presstFres on sea Iroul and gather evidence lo infomi strategies and policies to protect them across their UK range. FoTelgn currenclfy8 Assets and Ilabllilies in foreign curTencies are Iranslaled inlo slerfing al the iales of exchange ruling al the balance sheet dale. Transaclions in loreign currencies are Iren81ated into slerfing al the rale of exchange ruling al the dale ol Iransaclion. Exchange differences are taken into account in arrivlng al the operating result. Continued... Page 18
WILD FISH CONSERVAT50N NOTES TO THE FINANCIAL STATEMENTS. corttinued FOR THE EARE DECE BE ACCOUNTING POLICIES. continued Penslon costs and other post.rollrement beneflts The company eontribules to the personal pension plans ol certaln of Ils employees. All employees arè ellglble lo be considered for subsidy ol Iheir pensions. The eompany has d8signated the Scoltish Widows Sl8kèhold6r Pension Scheme lo meet the Government's condilions lor slakeholder pensions. Contributions are charuèd to the Slatement of Financial Aclivilies in the perlod Ir) which they relate. Investments Surplus cash is deposiled in money market and d8posS1 accoLJnlg. Investments are recognlsed InSllally al cost whl¢h Is normally tho Iran88Ction prlce ex¢ludlng Iran8a¢tion c0818. Sub5equenlly, they are 51aled al maikel value and all recognised gains and losses includgd in Ih? Slalemenl of Financlal Aclivlllès ISOFA}. Tradè and othèr dèbtors Tradg and other debtors are measured al Iransa¢lion value 1885 any Impairment 10888$ for bad and doubllul debls. Cash and cash equivalents Cash and cash aquival8n18 Comprise cash and highly liquid bank accounts. Trade and other credltor4 Tiade and other credilois aro mea8ureLI al transaction value. Leases Rentals p8ld under operalillg leases ar8 Included in the Slalemenl of Financial Activities on a slraighl-line basis over the lease term. DONATIONS AND LEGACIES 2023 2022 Legacies Mombeiship income SponsoT5hip, donations arbd grants 56,962 159,609 540.571 59 170,579 507.650 757,142 678.288 OTHER TRADING ACTIVITIES 2023 2022 Fundrai6ing events 8nd draws 101.631 98,535 INVESTMENT INCOME 2023 2022 Inveslment income 7,504 Continued.. Page 19
ILDF H CONSER NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 RAISING FUNDS Raising donatlons and legacies 2023 2022 Office costs Recruitment and retenlion Irrecoverable val Entertainment and olher costs RebrandSng and website rebui 25,975 6,513 43,678 2,482 17,173 5,049 34,952 1,223 104428 Oth&r tradlng a¢tlvltl68 2023 2022 Administrati ol fundraising Office costs Irrècov8rab16 vsl Fundraising evenl8 and draw$ Co81 of sale slock Rebranding and website rebuild 9,855 5,693 9,573 36,663 3,433 5.596 3,778 7,686 26,855 1,011 10,122 Aggregate amounts 143,865 159,474 CHARITABLE ACTIVITIES COSTS Direcl Costs {see note 81 Supporl costs (see note 91 Totals General Junlors Fund Ijvaler Action Aquaculture SmartRivers 292,371 129 256,148 155,274 162,850 46,488 338,859 129 256,148 155,274 3.688 B66,772 50,176 916,948 DIRECT COSTS OF CHARITABLE ACTIVITIES 2023 2022 Staff costs MÈmber$ ¢ommunicalions OffiGg ws15 Sundries Educallon and Iralning Prolecls and v&search Consultancles Tfavel and subsislence Aquacu51ure VValÈr Acllon Rèd Llsl SmariRSvors 491,553 34,413 9,559 2,064 129 3,4Y1 19 8,329 53,688 175,397 493,989 30.411 7,291 1,578 110 4,421 8,648 4,168 44,037 55,080 64.284 866 772 712,017 Coniinued... Page 20
WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS Governance cos18 General SmartRiv&rs 46,488 3,688 50.176 Support costs, included in the above. are as follows.. 2023 Total aclivltiès 2022 Total Sirart Rlvers Gen&ra1 AudiloTS' remuneralion Auditors. remuneration for non audll work Office insurance Trustees expenses Legal and professSonal fees Other costs Depreclallon of tanglble fixEd a55els 9,700 soo 13,744 9.700 soo 13,744 6,500 500 10,501 108 2,703 4,4g6 6,738 13,354 6,804 13.354 6,804 3,688 3.688 50.176 10. NET IEXPENDITUREIIINCOME N6t (pndlrèIISnC0m6 Is slated aftèr chargIn(CredItIngl'. 2023 2022 Audilor8' rèmunerallon Othèr hon-audil gèrvlcès Depr8el8tion- own8d as8els Ope181ing lease ienlals 9,700 500 6,074 645 6,500 500 6,736 300 11. TRUSTEES. REMUNERATION AND BENEFITS There were no Irus18e8' remun8ralion OT olh8r benefils for the year ended 31 Oecwnber 2023 nor foT thg year ended 31 Otsctsmbgr 2022. The total amount ofemployee b8nefil8 recoived by key managgmenl personnel was £79,850. Trusteès. expenses The Iruslees are r1 paid a iemunerallon bul are enlilled lo be Teimbursed for out of rAKket expenses. During 2023 no Irusl88s claimed out of pocket expenses. During 2022 one Iruslee daimed out of pocket expens8s during the year lo18lllng £108. Continued... Page 21
WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 12. STAFF COSTS 2023 2022 Wages and salaries Soclal secuTily costs other pension costs 429,672 39,548 22,333 432,691 40,797 20,501 491553 493,989 The average monlhly number of employees during the year was as follows.. 2023 11 2022 fjo Full time m8n&gemenl & admin Part lime support 12 13 Thts number ol employees whose employee benèfits (excluding employ8r pension costs) exceeded £80,QOO was.. 2023 2022 £70,001- £80,000 Pension costs Telaling lo these employees were £3,78512022'.£3,eo61. 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled funds Reslricled funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 500,540 177.748 678,288 Other Irading ac'vItIeS Investment income Olher income 98,535 7,504 377 98,535 7.504 Total 606.956 220.481 827,437 EXPENDITURE ON R8islng funds 159,474 159.474 Charllabl8 actlvltle¥ General Juniors Fund Watèr Acllon Aquacullurg Red List SrnartRiver 296,142 296,142 110 135.9SO 173,411 110 135,9SQ 173,411 137,048 Total 455,616 447,419 903.035 Nel gainslll08sesl oin invgslrnenls 50,221 502211 NET INCOMEIIEXPENDITUREI 101,119 1226,9381 1125,8191 Transfers between funds 239 525 239 525 Not movemènt In funds {138,4061 12,587 1125.8191 Contlnued... Page 22
WILD FISH CONSERVATION NOTES TO THE FINANCIAL SYATEMENTS- conllnue FOR THE YEAR ENDED 31 DECEMBER 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIALACTIVITIES. contlnued Uiireslricted funds Reslricled funds Tolal funds RECONCILIATION OF FUNDS Total funds brought forward 710,037 107.513 817.550 TOTAL FUNDS CARRIED FORWARD 14. INTANGIBLE FIXED ASSETS Wtsbsllo cosls COST Al 1 January 2023 Dlsposals Al 31 December 2023 AMORTISATION Al 1 January 2023 Charge for yeai Eliminaled on disposal Al 31 December 2023 NET BOOK VALUE Al 31 Decembor 2023 At 31 December 2022 TANGiaLE FIXED ASSETS Fixluies and fittings COST Al 1 January 2023 Addilions Disposals 36,479 2,384 At 31 December 2023 DEPRECIATION Al 1 January 2023 Charge for year Elimlnalèd on disposal 28,981 6,074 Al 31 Decernber 2023 NET BOOK VALUE Al 31 December 2023 3,808 Al 31 Deoembei 2022 7.498 Continued... P8ge 23
WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnugd FOR THE YEAR ENDED 31 DECEMBER 2023 16. FIXED ASSET INVESTMENTS Listed Investments MARKET VALUE Al 1 January 2023 Additions Disposals Revaluations 389,159 246,263 1284,8011 8,8461 At 31 Decembèr 2023 321776 NET BOOK VALUE Al 31 December 2023 321775 Al 31 December 2022 369,159 All listed investments are held in unil Irusls. STOCKS 2023 2022 Goods available for resa DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other deblors 1,332 136 796 7,931 110423 13B,128 118.354 Included In other debtors Is 27,793 {2022.'£8,732} In r6l&llon lo prepaymanls and accrued income. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Social seourily and other laxe8 Othèr creditors Accruals and dèférrèd incom8 12,899 12,988 4.712 12,677 17,057 3,374 Conllnued... Page 24
WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEMENTS - continu9d FOR THE YEAR ENDED 31 DECEMBER 2023 20. LEASING AGREEMENTS Minlmum lease payments under non-cancellabl8 operaling leases fall due as follows.. 2023 2022 Wilhln one year Bètween one and fwe years 600 600 2,100 2.700 2,100 21. MOVEMENT IN FUNDS Nel movement in funds Transfers between funds At 31.12,23 A11.1.23 Unrestricted funds Geneial Fund Deslgnal8d Fund- Wal8r Aellon Designated Fund - Communl¢8tion¥ Revaluation Reservg 390.735 170,000 143,004 1131,8521 1170,OQOI 401,887 10,898 1,165 10,0111 2,050 S71,631 144,169 1311,8631 403,937 Restrlcted funds Junlors, Fund Aquaculture Campalgnlsalmon Farm Refoim WalerAclion (previously Chalkslream) Smart Rivers Sea Troul 1,261 11291 1.132 5,328 199,2681 1209.8951 2B,661 100,000 210,000 1.863 6,060 105 143,525 400 113,111 400 120,100 280,741 311863 151222 TOTAL FUNDS 691.731 136 5721 555 159 N81 movement in fun¢J8, included in the above are a8 follows-. Incoming resources Resources expended Galns and losses Movement In funds Unr98trlcted funds General Fund Revaluation ReseNe 62S,728 1482,7241 143,004 625,728 1482,7241 1.165 144,169 Restricted fund8 Juniors, Fund AqLJacullL¢re Campaignjsalmon Farm Reform Water Action Ipreviously Chalkslroam) Smart Rivers S&a Trout 11291 11291 56.006 46,253 195,089 1155.2741 1256.1481 1166.5381 199,2681 1209,8951 28,551 297,348 578 089 1280 7411 TOTAL FUNDS 923 076 11,060,813) 136 5721 Continued... Page 25
WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 21. MOVEMENT IN FUNDS- contlnued Cornparatives for movement In funds Nel movement Sn funds Trangl8r8 betwèen funds Al 31.12.22 A11.1.22 Unrestrlcted funds General Fund Designated Fund- Vvaler Action Designated Fund Communlcalions Revaluation Reserve 396,306 200,000 50,000 451,340 1166,9111 130,0001 150,0001 390,735 170,000 50 221 710.037 101.119 1239,52S) 571.631 Restricted fund8 Juniors, Fund Aqu8cultur6 Campaignlsalmon Farm Reform Water Action IpieVuS]Y Chalkstrearn) Smart Rivets Sea Trout Red List 1,371 1,261 1104,6721 1125,2851 3,129 110,OOD 125,285 4.240 5,328 105,742 400 113,411 400 107513 226 938 239 525 120 100 TOTAL FUNDS B17550 125,8191 691,731 Comparallve net movemenl In funds, In¢luded in the above are as follows.. Incoming resources RosouTces expended Gains anLI losses Movemenl in funds Unrestrleted fund¥ General Fund Ravaluallon Res8rv8 606,956 1455,6161 151,340 502211 502211 606,956 1455,6161 150,221 101,1q9 Restrlcted funds Juniors. Fund Aquaculture Campalgnlsalmon Farm Reform Water Action (preVUsIY Chalkslreaml Smart Rivers Sea Trout Red List 11101 11401 88,739 10,665 141,077 1173,4141 (135.9501 1137,948) 1104,6721 1125,2851 3,129 220 481 447 419) 226.9381 TOTAL FUNDS 827.437 903,0351 50.2211 125,8191 Transfèrs botween fund¥ Th8 Iruslèes hav8 agreed lo th8 following conlribullons from unreslricled and designated funds.. Aquaculture Camp3lgnlSalrnon Farm Reform £I00,00012022£110,000}, Water Action £210.00012022.'£125,2851 and Smart Rlvers £1,863 (2022'.£4,2401. Continued. Page 26
WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 22. RELATED PARTY DISCLOSURES Donations lolalling £2,547 12022.'£2.3991 were received from Ihe trustees and senlor management, annual fundiaisin9 evenl tickets Aol purchasesldonations lotalling £4,720 12022.'29,925I were also received from the Irusloes and senior managemenl Rs well as membership Slibscriplions tolalling £6QD12D22., £6531. In addilion, £4,160 Inell was paid lo a relGlted party ol a Trustee for website mainlenallce. The ¢ommerclal rale for these sèrvices was estimated to be £4.160 Inell. There were no other related pariy transac1ns. 23, ULTIMATE CONTROLLING PARTY Wild Fish Consewvalion Is r*Jn by Ihe Trustees, who are appolnled by the Company Members. No individual memberllruslee has overall control. 24. LIABILITY OF MEMBERS The comp¢lny does 01 have a shaig ¢apilal and Is Ilrnlled by guarantee. In the event Cpf the company being wound up the maxlmum amounl by whiGh each Thember is liable lo contribute is £1, There were 15 members al 31 Dember 2023 (2022- 16 members}. Page 27