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2022-12-31-accounts

Registered number: 06460807 Charity number: 1123588

THE EDEN RIVERS TRUST

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

THE EDEN RIVERS TRUST

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 11
Independent examiner's report 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 33

THE EDEN RIVERS TRUST

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees Mr C Ecroyd, Chair

Mr N Milsom Prof J Quinton Mr J Sander Mr J J Turner Mr R Warburton Mr A Thursby (resigned 10 April 2022) Ms H Wade Mrs S Bradney, Vice Chair Mr M R Barrow Mr A G Bennett Ms J A Lack, Treasurer (appointed 10 April 2022)

Company registered number 06460807

Charity registered number 1123588

Registered office

4 Cowper Road Gilwilly Industrial Estate Penrith Cumbria CA11 9BN

Chief executive officer Ms E Radford

Accountants

Full Circle Accountancy Limited Chartered Accountants The Office Mardale Road Penrith CA11 9EH

Bankers

Cumberland Building Society Cooper Way Parkhouse Carlisle CA3 0JF

Lloyds Bank 1st Floor (East) 10 Gresham Street London EC2V 7AE

Clydesdale Bank 40 St Vincent Place Glasgow G1 2HL

Page 1

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the financial statements of the The Eden Rivers Trust for the 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

Policies and objectives

The objectives of the Trust (set out in the Declaration of Trust) are to secure the conservation, protection, rehabilitation and improvement of the rivers, streams, water courses and water impoundments together with the related bank sides and estuary of the River Eden (Cumbria), its tributaries and the Eden Valley for the benefit of the public; and to advance the education of the public in the management of water and water habitats. The Trust's objects correspond with the Charities Act 2011 description of charitable purposes of advancing environmental protection and the advancement of education.

The Trust achieves its objectives by:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

Strategies for achieving objectives

Eden Rivers Trust has a dedicated workforce of highly skilled trustees and employees. It is committed to the continued development of its staff through performance management systems, which include both internal and external training.

We use the national umbrella body, the Rivers Trust, when required, to help us provide a professional service to our employees. We have continued the positive relationships we have with existing funders and developed new relationships with new funders. We give feedback to funders and the public using reports, talks and presentations, by our website and press articles. We strive to keep up to date with relevant developments that affect our funding position, such as changing priorities of the Government and its statutory agencies.

In 2022 we have continued to work with a broad range of partners, funders and community groups and volunteers, who help us to achieve our objectives and who we help to achieve theirs. We have worked in partnership with Angling Associations, local community and flood action groups, Carlisle City Council, Cumbria County Council, Eden District Council, United Utilities, Lancaster University, the Environment Agency, Land Managers, sister Rivers Trusts in northern England, catchment schools, Natural England and Catchment Sensitive Farming, North Pennines AONB Partnership and the Yorkshire Dales National Park Authority - to name but a few.

Some examples of our partnership working include the Cumbrian River Restoration Strategy, River Petteril and Rivers Lowther & Leith Countryside Stewardship Facilitation Funds, the Eden Catchment Partnership (incorporating the Eden Catchment Management Group), Westmorland Dales and Fellfoot Forward Landscape Partnerships. Working in friendly collaboration with stakeholders and partner organisations is central to the Trust achieving its objectives and delivering its vision.

Page 3

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

Activities undertaken to achieve objectives

Five year strategic plan 2018 - 2022 2022 was the final year of the 2018 strategic plan. Vision: ‘Healthy Eden for All: Mission: To improve and protect the River Eden - its tributaries and lakes, for the benefit of people and wildlife. The objectives of the plan sit under 4 main pillars or themes:

Theme 1: CONNECT

Community engagement and profile raising work. Connect focuses on engaging Eden’s communities, enabling them to cherish and enjoy the River Eden and its tributaries. The premise being, we all can share the many benefits of the Eden.

Theme 2: IMPROVE

Work that focus on restoring natural processes within the catchment: encouraging more natural flow of water, both in the river itself and how that water is held in catchment; improving water quality; improving habitat quality and connectivity.

Theme 3: PROTECT

Aspects of our work that protect the unique and iconic biodiversity in the catchment, with a focus on the river. There is overlap between our work to improve and work to protect; as we improve, we also protect.

Theme 4: ENABLE

Our work to improve and nurture all part of our organisation falls under this theme: people, processes and systems. It reflects our desire to constantly increase the impact, scale and quality of all our work and to become a more professional organisation.

All our projects delivered multiple benefits for the environment and many activities delivered outcomes under more than one of the 4 pillars. We continued to achieve integrated catchment management across Eden, for land, water and the communities. All our work involved working in collaboration with stakeholders, communities and volunteers, and was delivered by our staff and apprentices.

Volunteers

The charity is grateful for the unstinting efforts of its volunteers who are involved in service provision. It is estimated that over 1,812 volunteer hours were provided during the year. The charity has a Volunteer Coordinator to ensure that best value is derived from the sterling efforts of our volunteers.

Page 4

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

Main achievements of the Charity

Strategic Plan Implementation in 2022

Connect

The National Heritage Lottery funded project, Act for Eden’s Rivers was completed including 12 youth work parties, a digital online campaign, 41 youth people involved in conservation, and running a water hub at a two day festival of nature. 48 volunteers were trained in river conservation related skills from water vole surveying to hazel hurdling. 76 volunteer work parties resulted in a huge amount of positive action from river and nature including tree planting and invasive species removal, as well as establishing a tree nursery on a local allotment as part of the new Access partnership.

A large grant was secured from the National Heritage Lottery Fund for a development year for the Access to Eden:breaking barriers and Building Bridges project. This involves 15 partners and aims to enable better access to our green and blue spaces in the Eden.

Act for Eden for Life project involved local school children in understanding issues with water supply and waste water and encouraged action to change behaviours.

We continue to receive considerable and increasing coverage in local media outlets, and on social media.

Improve and Protect

The three programmes contributing to our Improve theme are river and habitat restoration, water friendly farming and Natural Flood management. We aim that these projects integrate as fully as possible with one other developing multiple benefits for the catchment.

Of the projects completed in 2022, 6.85 hectares of land were enclosed to protect from overgrazing; 9km of fencing was erected to protect water courses; 7,200 trees were planted to slow the flow of water and provide habitat; 5km of river was improved through restoration or new river created through re-wiggling a straightened channel, 4.6ha of ponds were created and 18.3ha of flood plain grazing created. These projects involved working with 15 landowners across the catchment. Other on-going projects have involved planning major river restoration at Ormside on the Eden; designs for weir removal and walkovers to work up river restoration projects from the future removal in Carlisle; and interventions to prevent phosphorus entering watercourses from six farms in the Petteril sub-catchment. Two major new species programmes on white-clawed crayfish (protection) in Pennines and water vole reintroduction in the Lowther Valley are continuing with substantial new wet habitat creation alongside invasive mink control efforts.

Our farm advice programme continues with 12 farmer events covering specific topics on farming and conservation, a new farm group was created in the Lower Eden and 50 farmers enrolled in our DEFRA test and trial to map natural capital on their farms.

Eden Catchment Partnership

We continue to act as the host of the Eden Catchment Partnership. This brings together the Catchment Based approach group (environment and biodiversity focused) and the Catchment Management Group (flood focussed). In 2020 this Partnership published the Eden Catchment Plan and launched in September 2020 . The plan prioritises the areas in the catchment for management interventions to protect natural capital and its associated ‘free’ ecosystem services (water quality, water quantity, carbon, biodiversity, base flows, and recreation).

Eden Rivers Trust remains a key partner in two multi-year National Heritage Lottery funded Landscape Partnerships: Westmorland Dales approved at the end of 2018 and led by Friends of the Lake District and Fellfoot Forward approved at the end of 2019 and led by North Pennines AONB Partnership. Eden Rivers Trust is involved in both conservation and engagement project delivery focussing on the rivers in those regions that overlap with the Eden Catchment.

Enable

At the end of the year we held a series of workshops with staff and trustees to develop the strategic plan for 2023-2028. There was considerable revision of language and contact reflecting the development of the organisation over the last 5 years. From 2023 we will have seven objectives on the topics of: engagement, profile, natural habitat, water quality, species, finance and governance. The plan will be available on the website in 2023.

Page 5

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

Investment policy and performance

The Trustees operate within the governing document, the Memorandum and Articles of Association having regard to the guidance provided by the Charities Commission and act in accordance with the Trustees Act 2000.

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the next financial year. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

The Trustees have examined the best estimates of future cash flows, under different stress scenarios. While we cannot predict future events with absolute certainty, our assessment is that the charity remains a going concern for the financial year 2023.

Reserves policy

The Trustees have reviewed the charity’s needs for reserves in line with guidance issued by the Charity Commission.

Of the total reserves at 31 December 2022 of £529,392, £325,597 constitutes restricted reserves. These represent monies donated to the Trust in order to match specific projects. It is anticipated that the majority will be utilised in delivering the River Restoration Strategy, a water friendly farming programme, protection of iconic species and furthering sustainable integrated catchment management within the Eden.

At 31 December 2022 the Trust had unrestricted reserves of £203,795.

The Trustees keep their reserves policy and level of reserves held under review, monitoring the level of reserves held throughout the year as part of the normal monitoring and budgetary process. The main risks to both income and expenditure are highlighted and the level of committed expenditure taken into account. The Trustees reserves policy ensures that there are unrestricted funds that ensure that the Charity could continue during a period of unforeseen difficulty and that these are maintained in a readily realisable form. At the end of the year, the Trustees agreed that minimum reserves of £180,000 was necessary.

Notwithstanding this the Trustees believe that every effort should be made to maintain free reserves as close to current levels as possible in order that the charity can continue to meet its current obligations and plan with confidence for the future.

Designated funds

The Trustees have considered carefully the need for designated funds and conclude that the designated fund is not necessary at present, though will remain under constant review.

Principal risks and uncertainties

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

Page 6

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Principal funding

Funders in 2022

Angling Associations, Catchment Sensitive Farming (Natural England), Cumbria Community Foundation, Cumbria County Council, DEFRA, EC Graham Charitable Settlement, Eden Schools, Eden District Council, Environment Agency, European Union ( Water Environment Grant), Fellfoot Forward Landscape Partnership, Friends of Eden Rivers Trust and Eden Riparian Owners, National Lottery Heritage Fund, The Oglesby Charitable Trust, The Ministry of Defence, North Pennines AONB, the Rural Protection Agency, Penrith Angling Association, Westmorland Dales Landscape Partnership, United Utilities, The Woodland Trust, The Hadfield Trust, Mrs F B Lawrence's Charitable Trust.

The Trust also receives a great deal of in-kind funding from the time that our volunteers and other organisation have donated to us, including local schools and community associations

Page 7

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management

Constitution

The Eden Rivers Trust was constituted by a Declaration of Trust dated 12 October 1996 and registered as a charity on 2 December 1996. On 31 December 2007 Eden Rivers Trust became a newly formed company limited by guarantee under company number 06460807. The charity was transferred to the Company and re-registered with the Charities Commission under number 1123588.

The principal objects of the charity are

to conserve, protect and improve the River Eden and its tributaries and the flora and fauna in and adjacent to them. to increase public awareness of the importance of the the River Eden and is catchment through education.

These aims are met through our research, conservation and education projects. The Eden Rivers Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed. During the year the Trust was governed by the Board of Trustees, who are directors of the company. In 2022, the Board of Trustees held 4 Trustee meetings.

The Trust Deed provides for a minimum of five Trustees and a maximum of twelve. New Trustees are elected by the Board of Trustees, and each year one third of the Trustees are required to retire by rotation. Any Trustee retiring by rotation may be re-appointed. The Trustees are in the process of updating the Memorandum and Articles of Association to limit terms of service. Mr Robert Warburton and Mr Nigel Milsom retire (April 2023) and three new trustees will be appointed.

Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

Trustees are formally inducted by the Chairman and are given the opportunity to understand the work of the Trust. This is done by:

Meeting all staff and Trustees. Attending trustee/staff meetings. Receiving copies of the Trust Deed, Annual report and accounts. Most recent management accounts and minutes of Trustees’ meetings. Contact lists. Familiarisation of current projects by Trust staff. Time spent in the office, around the catchment area and visiting projects with staff. Website information.

Relevant Charity Commission guidance.

Page 8

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

Organisational structure and decision-making policies

The Board of Trustees administers the Trust. There are currently eleven Trustees, the majority of whom live in the Eden catchment (Upper, Middle and Lower Eden), their areas of expertise include: hospitality, farming, education and museums, banking, fundraising research and administration. The Trustees agree annual budgets and strategic objectives contained within the five year strategic plan (2018 – 2022). They meet regularly to review these and to monitor the performance of the Trust against them and hold special meetings to discuss projects and issues if required.

The Trustees monitor the work and the internal controls of the Trust with particular emphasis on the management of risk. These include:

The Trust employs a Chief Executive, who manages the day to day operations of the Trust in conjunction with the Trust Chairman and under the guidance of the Board of Trustees.

The Trust has a body of ‘supporters’ who donate, volunteer and advocate for the Trust. They receive information about current projects and they are asked to occasional events at which the work of the Trust is explained. The Trust also disseminates information about its work at other meetings, such as Catchment Partnership meetings, community groups, special interest seminars, Angling Association AGMs shows and events.

The Trust uses a large pool of volunteers for delivery of a number of areas of its work, particularly practical and monitoring.

The financial and practical support of friends and volunteers is essential to the delivery of the Trust’s work and the Trust is extremely grateful for their help.

Pay policy for key management personnel

The Board of Directors, who are the Trust’s trustees, and the Chief Executive comprise the key management personnel of the charity in charge of directing and controlling, running and operating the trust on a day to day basis. All Trustees give their time freely and no trustees received remuneration in the year.

The pay of all staff is reviewed annually and where possible a cost of living increase is applied in line with the average of CPI and RPI. In 2020 the Trust introduced new pay bands which have been, as far as possible, benchmarked against other comparable organisations in the sector and region.

Related party relationships

The charity has one trading subsidiary, Eden Source to Sea Ltd.

The Trust works with other rivers trusts, the umbrella organisation (The Rivers Trust) and the Wild Trout Trust. All relationships are conducted at an arm’s length basis, and where required a standard Memorandum of Understanding is negotiated.

Page 9

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

Financial risk management

The Trustees have examined the major strategic, business and operational risk which the charity faces (through a risk register) and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks.

Assessment of risks is kept under continual review. In general, the nature of the Trust, together with its past experience, the professional status of the officers, and the control systems that have been put in place, ensure that the Trust’s activities have a generally low foreseeable risk.

Risk assessments are prepared for all activities in line with a Risk Assessment Procedure which is reviewed annually. Employees receive training to assist in minimising risks to themselves and others, particularly related to hazards that may be faced during fieldwork.

For additional protection the Trust maintains appropriate insurance policies covering employers’ liability, public liability indemnity insurance.

Trustees' indemnities

The charity holds a standard insurance policy which includes a trustees' indemnity against any liability in connection with any negligence, default, breach of duty or breach of trust in relation to the charity.

Plans for future periods

Next year (2023) will see the start of the new five-year strategic plan which we developed at the end of 2022 alongside an in-depth review of the 2018-22 plan. .

Members' liability

The Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up.

Page 10

THE EDEN RIVERS TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 24 April 2023 and signed on their behalf by:

Page 11

THE EDEN RIVERS TRUST

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EDEN RIVERS TRUST ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

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

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

  1. accounting records were not kept in respect of the Charity 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 24 April 2023 Jonathan Miller FCA DChA

FULL CIRCLE ACCOUNTANCY LIMITED

Chartered Accountants

Page 12

THE EDEN RIVERS TRUST

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities:
9
. Other charitable activities
Total expenditure
Net expenditure
Transfers between funds
19
Net movement in funds before other
recognised gains
Other recognised gains:
Other gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
30,213
550
-
1,807
32,570
-
48,041
48,041
(15,471)
8,539
(6,932)
5,000
(1,932)
205,727
(1,932)
203,795		 Restricted
funds
2022
£
-
829,529
-
-
829,529
-
864,183
864,183
(34,654)
(8,539)
(43,193)
-
(43,193)
368,790
(43,193)
325,597		 Total
funds
2022
£
30,213
830,079
-
1,807
862,099
-
912,224
912,224
(50,125)
-
(50,125)
5,000
(45,125)
574,517
(45,125)
529,392		 Total
funds
2021
£
47,330
827,732
28,788
1,896
905,746
6,544
1,152,144
1,158,688
(252,942)
-
(252,942)
-
(252,942)
827,459
(252,942)
574,517

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 16 to 33 form part of these financial statements.

Page 13

THE EDEN RIVERS TRUST (A company limited by guarantee) REGISTERED NUMBER: 06460807

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one year
17
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 161,652
387,099
548,751
(41,786)		 2022
£
22,327
100
22,427
506,965
529,392
529,392
325,597
203,795
529,392		 212,143
360,573
572,716
(20,757)		 2021
£
22,458
100
22,558
551,959
574,517
574,517
368,790
205,727
574,517

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees on 24 April 2023 and signed on their behalf by:

The notes on pages 16 to 33 form part of these financial statements.

Page 14

THE EDEN RIVERS TRUST

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Subsidiary loan repayment
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 16 to 33 form part of these financial statements		 2022
£
35,013
1,807
(15,294)
(13,487)
5,000
5,000
26,526
360,573
387,099		 2021
£
(341,709)
1,896
(9,043)
(7,147)
-
-
(348,856)
709,429
360,573

Page 15

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. GENERAL INFORMATION

The Eden Rivers Trust is a private company limited by guarantee, domiciled in England and Wales, registration number 06460807. The registered office is 4 Cowper Road, Gilwilly Industrial Estate, Penrith, CA11 9BN.

2. ACCOUNTING POLICIES

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting 360and 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Eden Rivers Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 16

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES (CONTINUED)

2.4 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Short-term leasehold property - over the lease term - Plant and machinery 20% straight line Motor vehicles - 25% straight line - Fixtures and fittings 25% straight line

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

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

Page 17

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES (CONTINUED)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.11 Financial instruments

The Charity only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 18

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. INCOME FROM DONATIONS AND LEGACIES

Donations
Similar incoming resources
Total 2022
Donations
Government grants
Similar incoming resources
Total 2021		 Unrestricted
funds
2022
£
21,152
9,061
30,213
Unrestricted
funds
2021
£
33,985
2,739
310
37,034		 Restricted
funds
2022
£
-
-
-
Restricted
funds
2021
£
4,188
3,475
2,633
10,296		 Total
funds
2022
£
21,152
9,061
30,213
Total
funds
2021
£
38,173
6,214
2,943
47,330

4.

INCOME FROM CHARITABLE ACTIVITIES

Income from charitable activities - Conservation
Income from charitable activities - Conservation		 Unrestricted
funds
2022
£
550		 Restricted
funds
2022
£
829,529
Restricted
funds
2021
£
827,732		 Total
funds
2022
£
830,079
Total
funds
2021
£
827,732

Page 19

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5. ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES

Environment Agency
National Heritage Lottery Fund
United Utilities
Cumbria County Council
Natural England
The Rivers Trust
DEFRA
North Pennines AONB
Cumbria Community Foundation
Ministry of Defence
YDNPA
RSPB
Eden District Council
Rural Payments Agency
Sundry grants
Environment Agency
National Heritage Lottery Fund
United Utilities
Cumbria County Council
Natural England
The Rivers Trust
DEFRA
North Pennine AONB
The Hadfield Trust
YDNPA
RSPB
Sundry grants		 Unrestricted
funds
2022
£
-
-
550
-
-
-
-
-
-
-
-
-
-
-
-
550		 Restricted
funds
2022
£
286,430
89,470
155,790
3,500
58,697
21,212
64,700
69,338
6,151
6,085
33,104
-
5,000
24,640
5,412
829,529
Restricted
funds
2021
£
401,871
105,799
13,822
8,900
72,734
11,216
5,897
125,286
4,035
59,654
3,700
2,500
815,414		 Total
funds
2022
£
286,430
89,470
156,340
3,500
58,697
21,212
64,700
69,338
6,151
6,085
33,104
-
5,000
24,640
5,412
830,079
Total
funds
2021
£
401,871
105,799
13,822
8,900
72,734
11,216
5,897
125,286
4,035
59,654
3,700
2,500
815,414

Page 20

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. INCOME FROM OTHER TRADING ACTIVITIES

Income from fundraising events

Fundraising - Auction
Fundraising - Auction
7.
INVESTMENT INCOME
Investment income
Investment income		 Unrestricted
funds
2021
£
28,788
Unrestricted
funds
2022
£
1,807
Restricted
funds
2021
£
1,896		 Total
funds
2022
£
-
Total
funds
2021
£
28,788
Total
funds
2022
£
1,807
Total
funds
2021
£
1,896

Page 21

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. EXPENDITURE ON RAISING FUNDS

Fundraising trading expenses

Fundraising expense - Auction costs
Unrestricted
funds
2021
£
Fundraising expense - Auction costs
6,544		 Total
funds
2022
£
-
Total
funds
2021
£
6,544

9. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Income from charitable activities - Conservation
Income from charitable activities - Conservation		 Unrestricted
funds
2022
£
48,041
Unrestricted
funds
2021
£
98,612		 Restricted
funds
2022
£
864,183
Restricted
funds
2021
£
1,053,532		 Total
2022
£
912,224
Total
2021
£
1,152,144

Page 22

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Income from charitable activities - Conservation
Income from charitable activities - Conservation
ANALYSIS OF DIRECT COSTS
Staff costs
Direct project costs
Staff costs
Direct project costs		 Activities
undertaken
directly
2022
£
813,461
Activities
undertaken
directly
2021
£
1,056,901		 Support
costs
2022
£
98,763
Support costs
2021
£
95,243
Conservation
2022
£
337,347
476,114
813,461
Conservation
2021
£
393,741
663,160
1,056,901		 Total
funds
2022
£
912,224
Total
funds
2021
£
1,152,144
Total
funds
2022
£
337,347
476,114
813,461
Total
funds
2021
£
393,741
663,160
1,056,901

Page 23

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. ANALYSIS OF EXPENDITURE BY ACTIVITIES (continued)

ANALYSIS OF SUPPORT COSTS

Staff costs
Depreciation
Office costs
Accountancy
Repairs and maintenances
Gain on disposal of fixed assets
Staff costs
Depreciation
Office costs
Accountancy
Repairs and maintenances
11.
INDEPENDENT EXAMINER'S REMUNERATION
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts		 Conservation
2022
£
28,026
15,576
52,689
2,018
104
350
98,763
Conservation
2021
£
27,788
14,435
51,116
1,800
104
95,243
2022
£
1,815		 Total
funds
2022
£
28,026
15,576
52,689
2,018
104
350
98,763
Total
funds
2021
£
27,788
14,435
51,116
1,800
104
95,243
2021
£
1,800

Page 24

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2022
£
317,843
21,804
25,726
365,373		 2021
£
361,210
29,463
30,856
421,529

The average number of persons employed by the Charity during the year was as follows:

Management
Administration staff
Project staff		 2022
No.
2
1
9
12		 2021
No.
2
1
10
13

No employee received remuneration amounting to more than £60,000 in either year.

13. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .

Page 25

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. TANGIBLE FIXED ASSETS

Cost or valuation
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
On disposals
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Short-term
leasehold
property
£
3,480
-
-
3,480
166
497
-
663
2,817
3,314		 Plant and
machinery
£
34,083
3,588
-
37,671
33,305
773
-
34,078
3,593
778		 Motor
vehicles
£
38,451
-
-
38,451
33,726
4,725
-
38,451
-
4,725		 Fixtures and
fittings
£
79,767
11,706
(6,714)
84,759
66,126
9,079
(6,363)
68,842
15,917
13,641		 Total
£
155,781
15,294
(6,714)
164,361
133,323
15,074
(6,363)
142,034
22,327
22,458

Page 26

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. FIXED ASSET INVESTMENTS

Cost or valuation
At 1 January 2022
AT 31 DECEMBER 2022		 Investments
in subsidiary
companies
£
100
100

PRINCIPAL SUBSIDIARIES

The following was a subsidiary undertaking of the Charity:

Name Company Registered office or principal Principal activity
number place of business
Eden Source to Sea Ltd 10332734 4 Cowper Road, Penrith CA11 4BN PR Marketing and
Environmental
Consulting
Class of Holding Included in
shares consolidation
Ordinary 100% No

The financial results of the subsidiary for the year were:

Name Net assets
£
Eden Source to Sea Ltd 4,052

Page 27

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16. DEBTORS

Due within one year
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
Grants receivable		 2022
£
112,889
-
4,750
44,013
161,652		 2021
£
145,456
6,080
6,158
54,449
212,143

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2022
£
19,201
6,920
13,850
1,815
41,786		 2021
£
18,942
-
-
1,815
20,757

18. FINANCIAL INSTRUMENTS

2022 2021
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 387,099 360,573

Financial assets measured at fair value through income and expenditure comprise cash and bank balances.

Page 28

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

19. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Unrestricted
funds
General Funds
Restricted funds
Restricted Funds
Total of funds		 Balance at 1
January
2022
£
205,727
368,790
574,517		 Income
£
32,570
829,529
862,099		 Expenditure
£
(48,041)
(864,183)
(912,224)		 Transfers
in/out
£
8,539
(8,539)
-		 Gains/
(Losses)
£
5,000
-
5,000		 Balance at
31
December
2022
£
203,795
325,597
529,392

Page 29

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

19. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR

Balance at
1 January
2021
£
Unrestricted funds
Designated funds
Designated Funds
70,666
General funds
General Funds
180,000
Total Unrestricted funds
250,666
Restricted funds
Restricted Funds
576,793
Total of funds
827,459
20.
SUMMARY OF FUNDS
SUMMARY OF FUNDS - CURRENT YEAR		 Income
£
-
65,822
65,822
839,924
905,746		 Expenditure
£
Transfers in/out
£
-
(70,666)
(110,761)
70,666
(110,761)
-
(1,047,927)
-
(1,158,688)
-		 Balance at
31 December
2021
£
-
205,727
205,727
368,790
574,517
General funds
Restricted funds		 Balance at 1
January
2022
£
205,727
368,790
574,517		 Income
£
32,570
829,529
862,099		 Expenditure
£
(48,041)
(864,183)
(912,224)		 Transfers
in/out
£
8,539
(8,539)
-		 Gains/
(Losses)
£
5,000
-
5,000		 Balance at
31
December
2022
£
203,795
325,597
529,392

Page 30

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

20. SUMMARY OF FUNDS (CONTINUED)

SUMMARY OF FUNDS - PRIOR YEAR

Designated funds
General funds
Restricted funds		 Balance at
1 January
2021
£
70,666
180,000
576,793
827,459		 Income
£
-
65,822
839,924
905,746		 Expenditure
£
Transfers in/out
£
-
(70,666)
(110,761)
70,666
(1,047,927)
-
(1,158,688)
-		 Balance at
31 December
2021
£
-
205,727
368,790
574,517

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
22,327
100
203,953
(22,585)
203,795
YEAR
Unrestricted
funds
2021
£
22,458
100
184,984
(1,815)
205,727		 Restricted
funds
2022
£
-
-
344,798
(19,201)
325,597
Restricted
funds
2021
£
-
-
387,732
(18,942)
368,790		 Total
funds
2022
£
22,327
100
548,751
(41,786)
529,392
Total
funds
2021
£
22,458
100
572,716
(20,757)
574,517
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total

Page 31

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM 22. OPERATING ACTIVITIES

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by/(used in) operating activities
23.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
Total cash and cash equivalents
24.
ANALYSIS OF CHANGES IN NET DEBT
At 1 January
2022
£
Cash at bank and in hand
360,573
360,573		 2022
£
(50,125)
15,074
(1,807)
351
50,491
21,029
35,013
2022
£
387,099
387,099
Cash flows
£
26,526
26,526		 2021
£
(252,942)
14,435
(1,896)
-
(102,951)
1,645
(341,709)
2021
£
360,573
360,573
At 31
December
2022
£
387,099
387,099

25. PENSION COMMITMENTS

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The pension cost charge represents contributions payable by the charity to the funds and amounted to £25,726 (2022 - £30,856). Contributions totalling £Nil (2022 - £Nil) were payable to the funds at the balance sheet date.

Page 32

THE EDEN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

26. OPERATING LEASE COMMITMENTS

At 31 December 2022 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Later than 1 year and not later than 5 years
Later than 5 years		 2022
£
26,250
110,417
136,667		 2021
£
4,250
160,417
164,667

The following lease payments have been recognised as an expense in the Statement of financial activities:

2022 2021
£ £
Operating lease rentals 27,141 26,377

Page 33