**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 2023**
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1 - 2|
|**Trustees' report**|3 - 13|
|**Independent examiner's report**|14|
|**Statement of financial activities**|15|
|**Balance sheet**|16|
|**Statement of cash flows**|17|
|**Notes to the financial statements**|18 - 32|
**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 2023**
## **Trustees**
Mr C Ecroyd, Chair Mr N Milsom (resigned 27 April 2023) Prof J Quinton Mr J Sander Mr J J Turner Mr R Warburton (resigned 27 April 2023) Ms H Wade Mrs S Bradney, Vice Chair Mr M R Barrow Mr A G Bennett Ms J A Lack, Treasurer Mr D Unwin (appointed 27 April 2023) Mr R Martin (appointed 27 April 2023) Mr G L McGregor (appointed 27 April 2023)
**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**
Seavor (South Cumbria) Limited Chartered Accountants The Office Mardale Road Penrith Cumbria CA11 9EH
Page 1
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 2
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees present their annual report together with the financial statements of The Eden Rivers Trust for the year 1 January 2023 to 31 December 2023. 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 and Article of Association updated in 2023) 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 understanding management and uses for all lawful purposes of rivers, river corridors and river catchments, including their fauna, flora, biodiversity, economic or social activity and river catchment management; and the need for, and benefits of conservation, protection, rehabilitation and improvement of aquatic environments.
The Trust achieves its objectives by:
- Carrying out and sponsoring ground investigations, research and monitoring to identify causes and impacts, their magnitude and effects on the river and its biodiversity.
- Using the above information to prioritise restoration and enhancement projects that will help the river to meet its full ecological potential.
- Running an education and engagement programme for specific groups and the public at large.
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 3
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 2023 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, Cumberland Council, Westmorland and Furness 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, Cumbria Wildlife Trust and the Yorkshire Dales National Park Authority - to name but a few.
Some examples of our partnership working include the Cumbrian River Restoration Strategy, Fellside Countryside Stewardship Facilitation Funds, the Eden Catchment Partnership, 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 4
**THE EDEN RIVERS TRUST (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Objectives and activities (continued)**
## **Activities undertaken to achieve objectives**
Our five year strategic plan 2023 – 2028 is called RE THINKING RIVERS FOR GOOD
## Vision :
Clean and healthy rivers providing a brighter future for all.
## Mission:
To improve and protect the River Eden - its tributaries and lakes, for the benefit of people and wildlife
Values:
Teamwork, Commitment, Relevance, Creativity, Partnership
The 2023 plan has seven objectives on the topics of:
- Connecting and Engaging with communities ,
- Raising the profile of ourselves an our work
- Improving, restoring and protecting natural habitats
- Improving water quality
- Protecting species
- Sustainable finance and governance,
All have targets associated with them and a progress is reported on quarterly to the Board of Trustees.
Our work is driven and underpinned by the catchment based approach and the priorities set out in the Eden Catchment Plan; which is developed and supported by the Eden Catchment Partnership. We aim to have a positive impact at the landscape scale, setting what we do in the context of working (alongside many others) to improve habitat connectivity and to build the climate resilience of the Eden landscape, even though individual projects may be at the scale of individual farms, fields and river reaches.
We seek to achieve appropriate local community engagement (non-professional) in every project.
All our projects delivered multiple benefits for the environment and many activities delivered outcomes under more than one of the seven objectives. 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 2800 volunteer hours were provided during the year by 105 active volunteers. The charity has a Volunteer Coordinator to ensure that best value is derived from the sterling efforts of our volunteers and that a variety of training is providing responding to volunteers’ requirements and requests.
Page 5
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Achievements and performance**
## **Main achievements of the Charity**
Strategic Plan Implementation in 2023
Connecting with people: Engagement and Profile
We completed the development year of Access to Eden : Breaking Barriers and building Bridges project – with 13 partners - including pilot conservation and engagement projects focusing on improving access to the river and Eden environment for those who face barriers. Including the development of a local tree nursery, opening up new sites for engagement and conservation in Carlisle the lower and Upper Eden and an extensive volunteering programme with considerable training opportunities built in. We are also offering a new COP for helping teachers to take their schools groups into the field independently - maximising learning outcomes. A £2.6 million bid was submitted to the National Lottery Heritage Fund to continue this work for the next 4 years.
We continue to develop and run a farmer facilitation group on Eden’s Fellside ( advice on the transition to more environmentally / water friendly farming) and to host the Eden Catchment Partnership. The latter brings together all the water stakeholders in the Eden to implement priorities for management interventions to protect natural capital and its associated ‘free’ ecosystem services (water quality, water quantity, carbon, biodiversity, base flows, and recreation) – as written in the Eden Catchment Plan published in 2020.
We continue to receive considerable and increasing coverage in local media outlets, and on social media.
Improving, restoring and protecting natural habitats and water quality (nature based solutions to flooding).
The three programmes contributing to this work 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 2023,
- 6.47 hectares of land were enclosed to protect from overgrazing;
- 1.62 km of fencing was erected to protect water courses;
- 16, 250 trees were planted, as hedges, stand alone trees and riparian buffers to slow the flow of water and provide habitat;
- 2.62km of hedging was planted
- 3.2 km of river was improved through restoration or new river created through re-wiggling a straightened channel, or protection ( water quality)
- 0.8 ha of ponds were created
With additional benefits including floodplain reconnection,reed bed improvements, culvert and road drainage improvement and alternative water supplies for farmers as well as the creation of land management plans from walkover surveys.
Two multi-year National Heritage Lottery funded Landscape Partnerships which Eden Rivers Trust is involved in concluded in 2023. Westmorland Dales led by Friends of the Lake District and Fellfoot Forward led by North Pennines National Landscape, Eden Rivers Trust has completed conservation and engagement project delivery within these schemes focussing on the rivers in those regions that overlap with the Eden Catchment.
Significant time was spent developing river restoration projects for future delivery in the Caldew sub catchment and natural flood managements solutions (surface water) for Kirkby Stephen.
Protecting wetland and river species
This year we continued our programmes of habitat improvement for water vole and crayfish. A network of 26 mink rafts /traps are now in operation – largely by volunteers. 35 mink were captured in core site buffers. 365 water voles released two sites in the Lowther Valley. 3 hectares of floodplain habitat was protected to help crayfish populations in the river from pollution/sediment.
Page 6
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Achievements and performance (continued)**
Enable: professionally and sustainable management of Eden Rivers Trust
In 2023 we updated our Articles of Association including regulations on trustees terms, continued the process of recruiting new trustees. Two significant multi year grant applications were submitted, alongside the smaller annual ones.
## **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 2024.
## **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 2023 of £386,654, £169,817 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, alongside the engagement programme.
At 31 December 2023 the Trust had unrestricted reserves of £216,837.
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.
Page 7
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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.
## **Principal funding**
## Funders in 2023
Cumbria Community Foundation, Cumbria County Council, DEFRA, EC Graham Charitable Settlement, Eden Schools, Eden District Council, Fellfoot Forward Landscape Partnership (North Pennines National Landscape), National Lottery Heritage Fund, The Oglesby Charitable Trust, the Rural Protection Agency,United Utilities, The Woodland Trust, Westmorland Dales Landscape Partnership (Friends of The Lake District & Yorkshire Dales National Park Authority), Westmorland & Furness Council.
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 8
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 (updated 2023) are
- to secure the conservation, protection, rehabilitation and improvement of the rivers, streams, watercourses, water impoundments together with the related banksides and estuary with respect to the river Eden (Cumbria) its tributaries and the Eden Valley (the river catchment area of the river Eden (Cumbria)) for the benefit of the public; and
- to advance the education of the public or any association, institution, voluntary organisation, company, local authority, administrative or governmental agency or public body or representative body in:
- the understanding, management and uses for all lawful purposes of rivers, river corridors and river catchments, including their fauna, flora, biodiversity, economic or social activity and river catchment management; and
- the need for, and benefits of conservation, protection, rehabilitation and improvement of aquatic environments.
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 2023, the Board of Trustees held 4 Trustee meetings. The Trust Deed provides for a minimum of five Trustees and a maximum of twelve.
Mr Robert Warburton and Mr Nigel Milsom retired in April 2023 and Mr Ruari Martin, Mr Gordon McGregor and Mr David Unwin were appointed.
Page 9
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Structure, governance and management (continued)**
## **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.
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 for a maximum of three consecutive terms of office including their initial term, up to a maximum of nine years of service in total. A Trustee who is appointed as Chairman, Vice-Chairman or Treasurer may, if re-elected as such, serve two consecutive terms including their initial term, up to a maximum of six years in total in that role, and may be re-elected for a maximum of four consecutive terms including their initial term, up to a maximum of twelve years of service in total. A programme of induction for Trustees includes:
- 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 10
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Structure, governance and management (continued)**
## **Organisational structure and decision-making policies**
The Board of Trustees administers the Trust. There are currently twelve 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 (2023 – 2028). 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:
- Employing professional staff with appropriate skills and training, by open recruitment and with adherence to an equal opportunities policy.
- Commitment to ongoing professional development by all employees.
- Receiving regular written reports from the Chief Executive, reporting on all aspects of the organisation.
- Reviewing regularly the management accounts.
- Reviewing annually the insurance policies of the Trust.
- Submitting the financial statements for audit.
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 continue to be, 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 11
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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**
The strategic plan for 2023 – 2028 is now operational, alongside a five year budget. Large new programmes awaiting confirmation at Access to Eden: Breaking Barriers and Building Bridges ( (National Heritage Lottery funds c £2.6 million for 13 partners led by Eden Rivers Trust) and Landscape Recovery funding c£2.4 million led by Forestry England with £300,000 for Eden Rivers Trust enabling an extension of our conservation work into the northern part of the Eden catchment (the River Irthing sub catchment).
## **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 12
## **THE EDEN RIVERS TRUST (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 year. 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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 9 May 2024 and signed on their behalf by:
## **Mr C Ecroyd**
Page 13
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 2023.
## **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: 9 May 2024 Jonathan Miller FCA DChA
## **SEAVOR (SOUTH CUMBRIA) LIMITED**
Chartered Accountants
Page 14
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
6
**Total income**
**Expenditure on:**
Raising funds
Charitable activities:
7
_._ Other charitable activities
**Total expenditure**
**Net movement in funds before other**
**recognised gains/(losses)**
**Other recognised gains/(losses):**
Other gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**33,264**
**-**
**6,726**
**39,990**
**-**
**26,948**
**26,948**
**13,042**
**-**
**13,042**
**203,795**
**13,042**
**216,837**|**Restricted**
**funds**
**2023**
**£**
**480**
**912,349**
**1,681**
**914,510**
**3,023**
**1,067,267**
**1,070,290**
**(155,780)**
**-**
**(155,780)**
**325,597**
**(155,780)**
**169,817**|**Total**
**funds**
**2023**
**£**
**33,744**
**912,349**
**8,407**
**954,500**
**3,023**
**1,094,215**
**1,097,238**
**(142,738)**
**-**
**(142,738)**
**529,392**
**(142,738)**
**386,654**|_Total_
_funds_
_2022_
_£_
_30,213_
_830,079_
_1,807_
_862,099_
_-_
_912,224_
_912,224_
_(50,125)_
_5,000_
_(45,125)_
_574,517_
_(45,125)_
_529,392_|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 18 to 32 form part of these financial statements.
Page 15
## **THE EDEN RIVERS TRUST (A company limited by guarantee) REGISTERED NUMBER: 06460807**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
17
Unrestricted funds
17
**Total funds**|**149,211**
**289,042**
**438,253**
**(70,324)**|**2023**
**£**
**18,625**
**100**
**18,725**
**367,929**
**386,654**
**386,654**
**169,817**
**216,837**
**386,654**|_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_|
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 09 May 2024 and signed on their behalf by:
## **Mr C Ecroyd**
The notes on pages 18 to 32 form part of these financial statements.
Page 16
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**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 provided by/(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 18 to 32 form part of these financial statements|**2023**
**£**
**(101,576)**
**8,407**
**(4,888)**
**3,519**
**-**
**-**
**(98,057)**
**387,099**
**289,042**|_2022_
_£_
_35,013_
_1,807_
_(15,294)_
**(13,487)**
_5,000_
**5,000**
**26,526**
_360,573_
_387,099_|
|---|---|---|
Page 17
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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.
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.
## **2.4 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.
Page 18
**THE EDEN RIVERS TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.5 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
## **2.6 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.
## **2.7 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.
## **2.8 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.
## **2.9 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.
Page 19
**THE EDEN RIVERS TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.10 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.
## **2.11 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.
## **2.12 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 20
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3. INCOME FROM DONATIONS AND LEGACIES**
|Donations
Similar incoming resources
**Total 2023**
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
27,950
5,314
33,264
_30,213_|**Restricted**
**funds**
**2023**
**£**
310
170
480
_-_|**Total**
**funds**
**2023**
**£**
**28,260**
**5,484**
**33,744**
_30,213_|_Total_
_funds_
_2022_
_£_
_21,152_
_9,061_
_30,213_|
|---|---|---|---|---|
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|Income from charitable activities -
Conservation
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
-
_550_|**Restricted**
**funds**
**2023**
**£**
912,349
_829,529_|**Total**
**funds**
**2023**
**£**
**912,349**
_830,079_|_Total_
_funds_
_2022_
_£_
_830,079_|
|---|---|---|---|---|
Page 21
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **5. ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES**
|Environment Agency
National Lottery Heritage Fund
United Utilities
Cumberland Council
Natural England
The Rivers Trust
DEFRA
North Pennines AONB
Cumbria Community Foundation
Yorkshire Dales National Park
RSPB
Eden District Council
Garfield Weston Foundation
Network Rail
Oglesby Charitable Trust
The Ernest Cook Trust
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
_550_|**Restricted**
**funds**
**2023**
**£**
135,606
138,478
253,474
5,516
10,950
44,937
81,093
21,662
1,000
61,501
5,000
20,000
61,000
46,897
10,235
15,000
912,349
_829,529_|**Total**
**funds**
**2023**
**£**
**135,606**
**138,478**
**253,474**
**5,516**
**10,950**
**44,937**
**81,093**
**21,662**
**1,000**
**61,501**
**5,000**
**20,000**
**61,000**
**46,897**
**10,235**
**15,000**
**912,349**
_830,079_|_Total_
_funds_
_2022_
_£_
_286,430_
_89,470_
_156,340_
_3,500_
_58,697_
_21,212_
_64,700_
_69,338_
_6,151_
_33,104_
_-_
_5,000_
_-_
_-_
_-_
_-_
_793,942_|
|---|---|---|---|---|
## **6. INVESTMENT INCOME**
|Investment income
_Total 2022_|**Unrestricted**
**funds**
**2023**
**£**
6,726
_1,807_|**Restricted**
**funds**
**2023**
**£**
1,681
_-_|**Total**
**funds**
**2023**
**£**
**8,407**
_1,807_|_Total_
_funds_
_2022_
_£_
_1,807_|
|---|---|---|---|---|
Page 22
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2023**
**£**
Income from charitable activities -
Conservation
26,948
_Total 2022_
_48,041_|**Restricted**
**funds**
**2023**
**£**
1,067,267
_864,183_|**Total**
**2023**
**£**
**1,094,215**
_912,224_|_Total_
_2022_
_£_
_912,224_|
|---|---|---|---|
|||||
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Income from charitable activities -
Conservation
_Total 2022_|**Activities**
**undertaken**
**directly**
**2023**
**£**
993,920
_813,461_|**Support**
**costs**
**2023**
**£**
100,295
_98,763_|**Total**
**funds**
**2023**
**£**
**1,094,215**
_912,224_|_Total_
_funds_
_2022_
_£_
_912,224_|
|---|---|---|---|---|
||||||
## **ANALYSIS OF DIRECT COSTS**
|Staff costs
Direct project costs
_Total 2022_|**Conservation**
**2023**
**£**
398,738
595,182
993,920
_813,461_|**Total**
**funds**
**2023**
**£**
**398,738**
**595,182**
**993,920**
_813,461_|_Total_
_funds_
_2022_
_£_
_337,347_
_476,114_
_813,461_|
|---|---|---|---|
Page 23
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (continued)**
## **ANALYSIS OF SUPPORT COSTS**
|||||**Total**|**Total**|_Total_|
|---|---|---|---|---|---|---|
|||**Conservation**||**funds**||_funds_|
|||**2023**||**2023**||_2022_|
||||**£**||**£**|_£_|
||Staff costs|6,983||**6,983**||_3,272_|
||Depreciation|8,590||**8,590**||_15,576_|
||Office costs|55,726||**55,726**||_52,689_|
||Accountancy|2,099||**2,099**||_2,018_|
||Repairs and maintenances|153||**153**||_104_|
||Gain on disposal of fixed assets|-||**-**||_350_|
||Governance costs|26,744||**26,744**||_24,754_|
|||100,295||**100,295**||_98,763_|
||||||||
||_Total 2022_|_98,763_||_98,763_|||
|**9.**|**INDEPENDENT EXAMINER'S REMUNERATION**||||||
|||||**2023**||_2022_|
|||||**£**||_£_|
||Fees payable to the Charity's independent examiner for the independent||||||
||examination of the Charity's annual accounts|||**2,065**||_1,815_|
|**10.**|**STAFF COSTS**||||||
|||||**2023**||_2022_|
|||||**£**||_£_|
||Wages and salaries|||**344,232**||_293,089_|
||Social security costs|||**30,052**||_21,804_|
||Contribution to defined contribution pension schemes|||**31,437**||_25,726_|
|||||**405,721**||_340,619_|
||||||||
Page 24
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. STAFF COSTS (continued)**
The average number of persons employed by the Charity during the year was as follows:
|Management
Administration staff
Project staff|**2023**
**No.**
**2**
**1**
**10**
**13**|_2022_
_No._
_2_
_1_
_9_|
|---|---|---|
||||
|||_12_|
No employee received remuneration amounting to more than £60,000 in either year.
## **11. TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 December 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ .
Page 25
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **12. TANGIBLE FIXED ASSETS**
|**Cost or valuation**
At 1 January 2023
Additions
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
_At 31 December 2022_|**Short-term**
**leasehold**
**property**
**£**
**3,480**
**-**
**3,480**
**663**
**497**
**1,160**
**2,320**
_2,817_|**Plant and**
**machinery**
**£**
**37,671**
**1,920**
**39,591**
**34,078**
**1,337**
**35,415**
**4,176**
_3,593_|**Motor**
**vehicles**
**£**
**38,451**
**-**
**38,451**
**38,451**
**-**
**38,451**
**-**
_-_|**Fixtures and**
**fittings**
**£**
**84,759**
**2,968**
**87,727**
**68,842**
**6,756**
**75,598**
**12,129**
_15,917_|**Total**
**£**
**164,361**
**4,888**|
|---|---|---|---|---|---|
||||||**169,249**|
||||||**142,034**
**8,590**|
||||||**150,624**|
||||||**18,625**|
||||||_22,327_|
Page 26
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13. FIXED ASSET INVESTMENTS**
|**Cost or valuation**
At 1 January 2023
AT 31 DECEMBER 2023|**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**|**Principal activity**|
|---|---|---|---|---|---|---|
||||**number**|**place of business**|||
||Eden Source to Sea Ltd||10332734|4 Cowper Road, Penrith CA11|PR Marketing and||
|||||4BN|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**|
|**14.**|**DEBTORS**||||||
||||||**2023**|_2022_|
||||||**£**|_£_|
||**Due within one year**||||||
||Trade debtors||||**131,887**|_112,889_|
||Prepayments and|accrued income|||**5,507**|_4,750_|
||Grants receivable||||**11,817**|_44,013_|
||||||**149,211**|_161,652_|
Page 27
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2023**
**£**
**59,857**
**8,402**
**-**
**2,065**
**70,324**|_2022_
_£_
_19,201_
_6,920_
_13,850_
_1,815_|
|---|---|---|
||||
|||_41,786_|
## **16. FINANCIAL INSTRUMENTS**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**289,042**|_387,099_|
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 2023**
## **17. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
|**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Funds
**Total of funds**|**Balance at 1**
**January**
**2023**
**£**
**203,795**
**325,597**
**529,392**|**Income**
**£**
**39,990**
**914,510**
**954,500**|**Expenditure**
**£**
**(26,948)**
**(1,070,290)**
**(1,097,238)**|**Balance at**
**31**
**December**
**2023**
**£**
**216,837**|
|---|---|---|---|---|
|||||**169,817**|
|||||**386,654**|
Page 29
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **17. STATEMENT OF FUNDS (CONTINUED)**
## **STATEMENT OF FUNDS - PRIOR 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_|
## **18. SUMMARY OF FUNDS**
## **SUMMARY OF FUNDS - CURRENT YEAR**
|General funds
Restricted funds
**SUMMARY OF FUNDS - PRIOR YEAR**
_Balance at_
_1 January_
_2022_
_£_
_Income_
_£_
General funds
_205,727_
_32,570_
Restricted funds
_368,790_
_829,529_
_574,517_
_862,099_|General funds
Restricted funds
**SUMMARY OF FUNDS - PRIOR YEAR**
_Balance at_
_1 January_
_2022_
_£_
_Income_
_£_
General funds
_205,727_
_32,570_
Restricted funds
_368,790_
_829,529_
_574,517_
_862,099_|**Balance at 1**
**January**
**2023**
**£**
**203,795**
**325,597**
**529,392**
_Expenditure_
_£_
_(48,041)_
_(864,183)_
_(912,224)_|**Income**
**£**
**39,990**
**914,510**
**954,500**
_Transfers_
_in/out_
_£_
_8,539_
_(8,539)_
_-_|**Expenditure**
**£**
**(26,948)**
**(1,070,290)**
**(1,097,238)**
_Gains/_
_(Losses)_
_£_
_5,000_
_-_
_5,000_|**Balance at**
**31**
**December**
**2023**
**£**
**216,837**
**169,817**|
|---|---|---|---|---|---|
||||||**386,654**|
||||||_Balance at_
_31_
_December_
_2022_
_£_
_203,795_
_325,597_|
|General funds
Restricted funds|_Balance at_
_1 January_
_2022_
_£_
_205,727_
_368,790_
_574,517_|||||
||||||_529,392_|
Page 30
**THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **19. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR**
|**Unrestricted**
**funds**
**2023**
**£**
Tangible fixed assets
18,625
Fixed asset investments
100
Current assets
212,086
Creditors due within one year
(13,974)
**Total**
216,837
**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**
_Unrestricted_
_funds_
_2022_
_£_
Tangible fixed assets
_22,327_
Fixed asset investments
_100_
Current assets
_203,953_
Creditors due within one year
_(22,585)_
**Total**
_203,795_
**20.**
**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW**
**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 in debtors
Increase in creditors
**Net cash provided by/(used in) operating activities**|**Restricted**
**funds**
**2023**
**Total**
**funds**
**2023**
**£**
**£**
-
**18,625**
-
**100**
226,167
**438,253**
(56,350)
**(70,324)**
169,817
**386,654**
_Restricted_
_funds_
_2022_
_Total_
_funds_
_2022_
_£_
_£_
_-_
_22,327_
_-_
_100_
_344,798_
_548,751_
_(19,201)_
_(41,786)_
_325,597_
_529,392_
**FROM OPERATING**
**2023**
_2022_
**£**
_£_
**(142,738)**
_(50,125)_
**8,590**
_15,074_
**(8,407)**
_(1,807)_
**-**
_351_
**12,441**
_50,491_
**28,538**
_21,029_
**(101,576)**
_35,013_|
|---|---|
Page 31
## **THE EDEN RIVERS TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **21. ANALYSIS OF CASH AND CASH EQUIVALENTS**
|Cash in hand and at bank
**Total cash and cash equivalents**|**2023**
**£**
**289,042**
**289,042**|_2022_
_£_
_387,099_|
|---|---|---|
||||
|||_387,099_|
## **22. ANALYSIS OF CHANGES IN NET DEBT**
|Cash at bank and in hand|**At 1**
**January**
**2023**
**£**
**387,099**
**387,099**|**Cash flows**
**£**
**(98,057)**
**(98,057)**|**At 31**
**December**
**2023**
**£**
**289,042**|
|---|---|---|---|
||||**289,042**|
## **23. 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.
## **24. OPERATING LEASE COMMITMENTS**
At 31 December 2023 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|**2023**
**£**
**26,250**
**84,167**
**110,417**|_2022_
_£_
_26,250_
_110,417_|
|---|---|---|
||||
|||_136,667_|
The following lease payments have been recognised as an expense in the Statement of financial activities:
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Operating lease rentals|**28,000**|_27,141_|
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