Registered number: 06460807 Charity number: 1123588 APPROVAL THE EDEN RIVERS TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Seavor (South Cumbrla) Umlted Chartered Accountants The Office Mardale Road Penrith Cumbria CAII 9EH
THE EDEN RIVERS TRUST CONTENTS OF THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS Page Reference and admlnistrative detalls of the charltyi Its trustees and advisers Trustees, report 2-11 Independent examlner's report 12 Statement of financlal actlvltles 13 Balance sheet 14-15 statement of cash flow 16 Notes to the flnanclal statements 17-28
THE EDEN RIVERS TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr C Ecroyd (Resigned 25 July 2024) Prof J Quinton, Chair Mr J Sander (Resigned 9 May 2024) Mr J J Turner (Reslgned 9 May 2024) Ms H Wade Mrs S Bradney Mr M R Barrow Mr A G Bennett MsJALack Mr D Unwln Mr R Martln Mr G L McGregor (Reslgned 27 February 2025) Mrs N l Renison (Appolnted 25 July 2024) Mrs l D Tuer (Appointed 25 July 2024) Registered number 06460807 Charlty number 1123588 Registered offlce 4 Cowper Road Gllwllly Industrlal Estate Penrlth Cumbria CAII 9BN Company $e¢retsry Prof J Qulnton Accountants Seavor (South Cumbrla) Llmited Chartered Accountants & Tax Advlsers The Offlce Mardale Road Penrlth Cumbrla CAII 9EH Bankers Cumberland Bulldlng Soclety Cooper Way Carllsle Cumbrla CA3 OJF Lloyds Bank 1st Floor (East) 10 Gresham Street London EC2V 7AE Clydesdale Bank 40 St Vincent Place Glasgow GI 2HL
THE EDEN RIVERS TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present thelr annual report together wlth the flnanclal statements of The Eden Rlvers Trust for the year l January 2024 to 31 December 2024. The Annual report serves the purpose5 of both a Trustees, report and a director's report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply wlth the current statutory requirements, the requlrements of the charltable company's governlng document and the provlslons of the Statement of Recommended Practlce (SORP) appllcable to charltles preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) (effectlve l January 2019). Slnce the charlty quallfles as small under sectlon 383, the strateglc report requlred of medlum and large companles under The Companies Act 2006 (Strateglc Report and Dlrector's Report) Regulatlons 2013 Is not requlred. OBJECTIVES AND ACTIVITIES Pollcles and objectlves The objectSves of the Trust (set out In the Declaratlon of Trust and Artlcle of Assoclatlon updated In 2023) are to secure the conservatlon, protection, rehabllltatlon and Improvement of the rivers, streams, water courses and water impoundments together wlth the related bank sldes and estuary of the rlver Eden (Cumbria), its tributarles and the Eden Valley for the beneflt of the publlc. and to advance the education of the public In: the understandlng management and uses for all lawful purposes of rlvers, rlver corrldors and rlver catchments, Includlng thelr fauna, flora, blodlversltyi economlc or social activlty and rlver catchment management,, and the need for, and beneflts of conservation, protectlon, rehabllitatlon and Improvement of aquatlc envlronments, The trust achleves Its objectlves by: Carrylng out and sponsorlng ground Investlgatlons, research and monltoring to Identlfy causes and Impacts, thelr magnltude and effects on the rlver and Its biodiversity. Uslng the above Informatlon to prlorltlse restoratlon and enhancement projects that vwlll help the rlver to meet Its full ecologlcal potentlal. Runnlng an educatlon and engagement programme for specific groups and the publlc at large. In settlng objettlves and planning actlvitles, the Trustees have glven due conslderatlon to general guldance publlshed by the Charlty Commlsslon relatlng to publlc beneflt, Includlng the guldance 'Public beneflt: runnlng a charlty (PB2). strategles lor achlevlng objectlveg Eden Rivers Trust has a dedicated workforce of hlghly skilled trustees and employees. Itls commltted to the contlnued development of It5 staff through performance management 5yStems, whlch Include both Internal and external tralnlng. We use the natlonal umbrella bodyi the Rlvers Trust, when requlred, to help us provlde a professlonal service to our employees. We have contlnued the posltlve relatlonshlps we have wlth exlstlng funders and developed new relatlonshlps wlth new funders. We glve feedback to funders and the publlc 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 posltlon, such as changlng prloritles of the Government and its statutory agencies.
THE EDEN RIVERS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 In 2024 we have continued to work with a broad range of partners, funders and communlty groups and volunteers, who help us to achleve our objectlves and who we help to achieve theirs. We have worked In partnership wlth Angling Associations, local community and flood action groups, Cumberland Council, Westmorland and Furness Council United Utilltles, Lancaster Unlverslty, the Environment Agency, Land Managers, slster Rivers Trusts in northern England, catchment schools, Natural England and Catchment Sensitive Farmingi North Pennines AONB Partnershlpi Cumbrla Wlldllfe Trust and the Yorkshlre Dale5 National Park Authority to name but a few. Some examples of our partnershlp worklng Include the Cumbrian Rlver Restoratlon Strategyi Fellside Countryslde Stewardship Facilitation Funds, the Eden Catchment Partnershlp, PRISM Landscape Recovery project (Spadeadam), Access to Eden: Breaklng Barrlers and Buildlng Brldges project. Worklng In frlendly collaboratlon wlth stakeholders and partner organisatlons Is central to the Trust achieving Its objectlves and dellverlng Its vlslon. Actlvltles undertaken to achieve objectlves Our flve year strategic plan 2023 - 2028 Is called RE THINKING RIVERS FOR GOOD Vlslon: Clean and healthy rlvers provldlng a brlghter future for all. MIs5ion: To Improve and protect the Rlver Eden - Its trlbutarles and lakes, for the beneflt of people and wlldllfe. Values: Teamwork, Commltment, Relevance, Creatlvlty, Partnershlp. The plan has seven objectlves on the toplcs of., Connecting and engagement with communltles, Raising the proflle of ourselves and our work, Improvlngi restorlng and protectlng natural habltats, Improvlng water quallty, Protectlng specles, Sustalnable flnance and governance. All have targets and annually updated major actlons assoclated wlth them and a progress Is reported on quarterly to the board. Our work is driven and underpinned by the catchment based approach and the prlorltles set out In the Eden Catchment Plan; which Is developed and 5UPPQrted by the Eden Catchment Partnershlp. We alm to have a posltlve Impact at the landscape scale, settlng what we do in the context of working (alongslde many others) to Improve habltat connectlvlty and to build the climate resilience of the Eden landscape, even though Indlvléual projects may be at the scale of Indlvldual farms, flelds and rlver reaches. We seek to achleve appropriate local communlty engagement (non-profe55ional) in ever project.
THE EDEN RIVERS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Volunteers The charlty Is grateful for the unstinting effort5 of its volunteers who are Involved In servlce provislon. It is estimated that over 4533 volunteer hours were provided during the year (an Increase of 600/0 on 2023) by 123 actlve volunteers. Thls Is equlvalent of a time donation of £83,414. The charlty has a Volunteer Coordlnator to ensure that best value is derived from the sterling efforts of our volunteers and that a varlety of tralnlng is providing responding to volunteers, requirements and requests. Main achlevements of the charltv strateglc Plan Implementatlon In 2024. Connectlng wlth People: Engagement and Proflle. We secured the dellvery phase { 4 years } of the £2.6 mllllon Natlonal Lottery Herltage fund project Access to Eden Breaklng Barriers and building Bridges project wlth 10 partners Includlng conservatlon and engagement projects focuslng on Improvlng access to the rlver and Eden envlronment for those who face barrlers. The local tree nursery is now growlng 15+ natlve species, with some trees belng used for conservatlon projects, a large scale rlver restoratlon In the clty has begun wlth the communlty and one completed on farm. We contlnue offerlng a new CPD programme for helplng teachers to take thelr schools groups Into the fleld Independently alongslde a 'Go Wlth the Glow, schools programme and an enlarged programme of communlty event 50n sltes in the clty of Carllsle. An employment of a tralnee enabled a large Invaslve specles awareness programme Includlng a 'roadshow around Ullswater, as well as domestlc nutrlent pollutlon awareness. Our partners In thls work are uslng these funds Improvlng access and engagement In rlvers and nature In south and east of the Eden catchment. Our volunteer programme expanded agaln and we contlnue to encourage wlth a greater dlverslty ol groups to get involved wlth the rlver and the tree nursery. Volunteers have been crltlcal In the management of mink and release of water voles thls year and have recelved conslderable tralnlng Including to undertake Prlorlty Rlver Habltat Assessments In two large sub catchment. 445 volunteers have contrlbuted over 3000 hours In the field and others over 1150 hours In the tree nursery. We continue to develop and run a farmer facllltatlon group on Eden's Fellslde (advlce on the transltlon to more envlronmentally I water frlendly farmlng) and collaborate wlth 8 other local organlsatlons on rarmer focussed events across the Eden and to host the Eden Catchment Partnershlp. The latter brlngs together all the water stakeholders In the Eden to Implement prlorltles for management Interventlons to protect natural capital and Its assodated 'free' ecosystem servlces (water qualityi water quantlty, carbon, biodiversityi base flows, and recreation) as written In the Eden Catchment Plan published In 2020. We continue to receive conslderable and Increaslng coverage In local medla outlets ( press, TV and radlo) , and on social media ( a 160/0 increase following from on last year. Our talk5 programme ( on Ilne and In person) reaches Supporters, the general Public and speclfic adult soclal groups such as local Women's Institutes.
THE EDEN RIVERS TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Improvingi restoring and protecting natural habltats and water quality (nature based solutlons to flooding) The three programme5 contributlng to this work are,. rlver and habltat restoratlon, water friendly farming and natural flood management. We aim that these projects integrate as fully as posslble with one other developlng multiple benefits for the catchment. In 2024, two farm river restoratlons were completed Include de culvertlng. Two more are in plannlng stage. We continued to encourage and facllltate fenclng and hedging projects to protect land and water courses from overgrazing and pollutlon. Wlth 30 hectares of rlparlan woodland facllltated through government schemes and 25ha In progress. Walkovers undertaken on farmland and water courses are belng used to work up future water frlendly farming and rlver restoratlon projerts. Addltlonal benefits Include flood plaln reconnectlon, reed bed Improvements, culvert and road dralnage Improvement and alternatlve water supplles for famers as well as the creation of land management plans from walkover surveys. Protectlng wetland and rlver species Thls year we contlnued our programmes of habltat Improvement for water vole and crayflsh. A network of 50 mlnk rafts /traps are now Ir) operatlon largely by volunteers. 80 minks were captured. A further 112 water voles were released In the Lowther Valley the total now 480 released. We began a Landscape recovery programme In the north of the Eden (Irthlng sub catchment) In 2024. Thls is led by Forestry England and our role Is water vole habltat creatlon and management. 19 km of riverbank has been mapped wlth 10 mlnk rafts deployed to Identlfy If mlnk present. Enable: professionally and sustalnable management of Eden Rlvers Trust In 2024, three trustees reslgned who had reached the end of thelr terms, thls Included the Chair Mr Charles Ecroyd who was replaced by Prof john Qulnton. Two new trustees were recruited. The exploratlon of closer working with Slster Trusts In Cumbrla Is ongoing. Slgnlflcant match fundlng was secured to enable the Natlonal Lottery Herltage fund project (Acce55 to Eden). Other fundralslng Included the auctlon, trust and foundatlon fundlng. Investments policy and performance The trustees operate wlthln the governlng document, the Memorandum and Artlcles of Association havlng regard to the guldance provlded by the Charitles Commlsslon and act In accordance with the Trustees Act 2000.
THE EDEN RIVERS TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Golng concern After making appropriate enquiries, the Trustees have a reasonable expectatlon that the charlty has adequate resources to continue in operational exlstence for the next flnanclal year. Further detalls regardlng the adoption of the going concern basls can be found In the Accountlng Pollcles. The Trustees have examlned the best estlmates of future cash flow5, under dlfferent stress scenarlos. Whlle we cannot predlct future events with absolute certalntyi our assessment is that the charity remains a golng concern for the flnanclal year 2025. Reserves pollcy The Trustees have revlewed the charlty's needs for reserves In Ilne wlth guldance Issued by the Charlty Commlss10n. Of the total reserves at 31 December 2024 of £422,817, £200,573 constitutes restrlcted reserves. These represent monles donated to the Trust In order to match specific projects. It Is antlclpated that the majorlty wlll be utlllsed In dellverlng the Rlver Restoration Strategy, a water frlendly farmlng programme, protectlon of Iconlc specles and furtherlng sustainable integrated catchment management within the Eden, alongslde the engagement programme. At 31 December 2024 the Trust ha5 unrestrlcted reserves of £222,244, The Trustees keep thelr reserves pollcy and level of reserves held under revlew, monltorlng the level of reserves held throughout the year as part of the normal monltorlng and budgetary process. The maln rlsks to both Income and expendlture are hlghllghted and the level of commltted expenditure taken Into account. The Trustee5 reserves pollcy en5ure5 that there are unrestricted funds that ensure that the Charlty could contlnue durlng a perlod of unforeseen dlfflculty and that these are maintained In a readlly realisable ft)mi. At the end of the year, the Trustees agreed that mlnlmum reserves of £180,000 was necessary. Notwlthstanding this the Trustees belleve that every effort should be made to malntaln free reserves as close to current levels as posslble In order that the charity can continue to meet Its cUrnt obllgatlons and plan wlth conflned for the future. Deslgnated Funds The Trustees have consldered carefully the need for deslgnoted funds and conclude that the deslgnated fund Is now necessary at present, though wlll remaln under constant revlew. Prlnclple risks and uncertaintles The Trustees have assessed the major rlsks to whlch the charlty Is exposed, In partlcular those related to the operations and finances of the charityi and are satlsfled that systems and prOdureS are In place to mitigate our exposure to the major risks.
THE EDEN RIVERS TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Prlnclpal fundlng Funders In 2024 Cumbrla Community Foundatlon, Cumbria County Council, DEFRA, EC Graham Charitable Settlement, Environment Agencyi The Ernest Cook Trust, Forestry England, FB Lawrence Chairtable Trust, The Garffield Weston Charitable Foundatlon, National Gas, The National Lottery Heritage Fund, The Oglesby Charltable Trust, Natural England, Network Rail, North Pennlnes National Landscape, The Rlvers Trust, the Rural Protertlon Agencyi Supporters of Eden Rlvers Trust, Unlted Utiiitles. STRUCTURE, GOVERNANCE AND MANAGEMENT Constltutlon The Eden Rlvers Trust wa5 constituted by a Declaratlon of Trust dated 12 October 1996 and reg15tered as a charlty on 2 December 1996. On 31 December 2007, Eden Rlvers Trust became a newly formed company limlted by guarantee under company number 06460807. The charlty was transferred to the company and re-reglstered wlth the Charities Commlsslon under number 1123588. The princlpal objects of the charlty (updated 2024) are.. Impoundments together wlth the related banksldes and estuary wlth respect to the rlver Eden (Cumbrla) Its trlbutarles and the Eden Valley (the rlver catchment area of the rlver Eden (Cumbria)) for the benefit of the publlc; and To advance the educatlon of the publlc or any assoclatlon, Institutlon, voluntary organlsatlon, companyi local authorlty, administratlve or governmental agency or publlc body or representatlve body In: The understandlngi management and uses for all lawful purposes of rlvers, rlver corrldors and rlver catchments, Includlng thelr fauna, flora, blodlversityi economlc or social artlvlty and river catchment management. and The need for, and beneflts of conservatlon, protectlon, rehabSlltation and Improvement of aquatlc environments. These aims are met through our research, conservatlon and educatlon projects. The Eden Rivers Trust Is registered as a charltable company Ilmlted by guarantee and was set up by a Trust deed. Durlng the year the Trust was governed by the Board of Trustees, who are dlrectors of the company. In 2023, the Board of Trustees held 4 Trustee meetings. The Trust Deed provldes for a mlnlmum of five trustees and a maxlmum of twelve. Mr E. Charles Ecroyd, Mr John Sander and Mr James Turner retlred as trustees In 2024 and Mrs Nlc Renlson and Ms Indla Tuer were appolnted. Prof. john Qulnton was appolnted Chalr. Methods of appolntment or electlon of Trustees The management of the Chalrty is the responsSblllty of the Trustees who are elected and co-opted under the temis of the Memorandum of Assoclatlon.
THE EDEN RIVERS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 New Trustees are elected by the Board of Trustees, and each year one thlrd of the Trustees are required to retlre by rotatlon. Any Trustees retiring by rotation may be re-appolnted for a maxlmum of three consecutive terms of offlce Includlng thelr Inltial term, up to a maximum of nine years of servlce In total. A Trustee who is appolnted as Chalrman, Vice-chaimian or Treasurer mayi if re-elected as such, serve two consecutlve terms includlng their Initial term, up to a maxlmum of slx years In total in that role, and may be re-elected for a maximum of four consecutlve terms Includlng thelr Initial term, up to a maxlmum of twelve years of 5ervlces In total. A programme of Inductlon for Trustees includes: Meetlng all staff and Trustees. Attending trustee/staff meetlngs. Recelvlng coples of the Trust Deed, Annual report and accounts. Most recent management accounts and mlnutes of Trustees, meetlngs. Contact Ilsts. Famlllarlsatlon of current projects by Trust staff. Tlme spent In the office, around the catchment area and v151tlng projerts wlth Staff. Website information. Relevant Charlty Commlssion guldance. Organlsatlonal structure and decislon-maklng pollcles The Board of Trustees admlnlsters the Trust, There are currently eleven Trustees, the majorlty of whom Ilve In the Eden catchment (Upper, Mlddle and Lower Eden), thelr areas of expertlse Include: land management and farmlngi fi5hlng, educatlon and museums, banklngi fundralslng research and admlnlstratlon. The Trustees agree annual budgets and strategic objectlves contalned wlthln the flve year strateglc plan (2023 2028). They meet regularly to revlew these and to monltor the performance of the Trust agalnst them and hold speclal meetlngs to dlscuss the projects and Issues If requlred. The Trustees monltor the work and the intemal controls of the Trust wlth partlculat emphasls on the management of rlsk. These Include.. Employlng professlonal staff with approprlate skllls and tralnlngi by open recrultment and wlth adherence to an equal opportunitles policy. Commltment to ongolng professional development by all employees. Recelvlng regular wrltten reports from the Chlef Executive, reportlng on all aspects of the organlsatlon. Revlewlng regularly the management accounts. Reviewing annually the Insurance pollcles of the Trust. Submitting the financlal statements for audit. The Trust employs a Chlef Executlve, who manages the day to day operation of the Trust In conjunction wlth the Trust Chalrman and under the guidance of the Board of Trustees. The Trust gas a body of'supporters, who donate, volunteer and advocate for the Trust. They receive Information about current projects and they are asked to occaslonal events at which the work of the Trust Is explalned. The Trust also disseminates about its work at other meetlngs, such as Catchment Partnershlp meetlngs, community groups, special interest seminars, Angllng AssocSatlon AGMS shows and events. The trust uses a large pool of volunteers for dellvery of a number of areas of its work, particularly practical and monltoring.
THE EDEN RIVERS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The f inanclal and practical support of frlends and volunteers Is essential to the delivery of the Trust's work and the Trust 15 extremely grateful for thelr help. Pay pollcy for key management personnel The Board of Directors, wha are the Trust's trustees, and the Chlef Executlve comprise the key management personnel of the charlty In charge of dirertlng and controlllngi running and operating the trust on a day to day basls. All Trustees glve thelr time freely and no trustees reIVed remuneratlon In the year. The pay of all staff Is revlewed annually and where possible a cost of Ilvlng increase Is applled In Ilne wlth the average CPI and RPI. In 2020 the Trust Introduced new pay bands which contlnue to be, as far as posslble, benchmarked agai nst comparable organlsatlon51 n the sector and region. Related party relatlonshlp5 The charlty has one tradlng subsldlaryi Eden Source to Sea Ltd. The Trust works wlth other rlvers trust, the umbrella organlsatlon (The Rlvers Trust) and the Wlld Trout Trust. All relatlonships are conducted at an arms length basls, and where required a standard Memorandum of Understanding or contract Is negotlated. Flnanclal risk management The Trustees have examlned the major strateglc, buslness and operatlonal risk whlch the charlty faces (through a rlsk reglster) and conflrm that systems have been establlshed to enable regular reports to be produced so that the necessary steps can be taken to mltlgate these rlsks, Assessment of rlsks Is kept under contlnual revlew. In general, the nature of the Trust, together wlth Its past experience, the professlonal status of the offlcers, and the control systems that have been put in pla, ensure that the Trust's actlvities have a generally low foreseeable rlsk. Rlsk assessments are prepared for all activltles In line wlth a Risk Assessment Procedure whlch Is revlewed annually. Employees recelve tralnlng to assist In mlnlmlsing rlsks to themselves and others, partlcularly related to hazards that may be faced durlng fieldwork. For addltlonal protectlon the Trust malntalns approprlate insurance pollcles coverlng employers, Ilablllty, publlc Ilablllty indemnlty Insurance. Trustees. Indemnltles The charlty holds a standard Insurance pollcy whlch Includes a tru5tee5' Indemnlty agalnst any Ilablllty In connection with any negligence, default, breach of duty or breach of trust in relation to the charlty.
THE EDEN RIVERS TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for future perlods The strategic plan for 2023 2028 is now operational, alongside a flve year budget. Larye new progrommes conflrmed are Acce5S to Eden.. Breaking Barrlers and Bulldlng Bridges (Natlonal Herltage Lottery fund5 £2.6 mllllon led by Eden Rlvers Trust) and Landscape Recovery funding £2.4 million led by Forestry England wlth £300,000 for Eden Rlvers Trust enabllng an extenslon of our conservation work Into the northern part of the Eden catchment (the Rlver lrthlng sub catchment). Members. Ilabllity The Members of the Charlty guarantee to contrlbute an amount not exceedlng £1 to the assets of the Charlty In the event of windlng up. io-
THE EDEN RIVERS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees (who are also dlrectors of The Eden Rlvers Trust for the purpose of company law) are re5ponsSble for preparing the Tru5tees' report and flnancial statements In accordance wlth appllcable law and Unlted Kingdom Accountlng Standard5 (Unlted Kingdom Generally Accepted Accountlng Practice). Company law requlres the Trustees to prepare financial statements for each flnancial year. Under company law the Trustees must not approve the financlal statements unless they are satlsfied that they give a true and fair vlew of the state of affalrs of the charitable company and of the Incomlng of resources and appllcatlon of resources, Includlng the Income and expenditure, of the charltable company for that perlod. In preparlng these financlal statements, the Trustees are required to.. Select sultable accountlng pollcle5 and then apply them conslstentlyi Make Judgements and estlmates that are reasonable and prudent; observe the methods and prlnclpals In the Charities SORP, Prepare the flnanclal statements on the golng concern basls unless It Is inappropdate to presume that the charlty wlll continue In operatlon. The trustees are responslble for keeplng adequate accountlng records that are sufflclent to show and explain the charitable company's tran5actlons and dlsclose wlth reasonable accuracy at any tlme the nanclal position of the charltable company and enable them to ensure that the flnanclal statements comply wlth the Companles Att 2006. They are also responslble for safeguardlng the assets of the charltable company and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. In preparlng thls report, the Trustees have taken advantage of the small companles, exemptlons provlded by sectlon 415A of the companles Act 2006. Thls re ort was appr y the Trustees, on 15 May 2025 and Is slgned on thelr behalf by: ulnton, Chalr li-
THE EDEN RIVERS TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EDEN RIVERS TRUST (the 'charity') I report to the charlty Trustees on my examinatlon of the accounts of the charlty for the year ended 31 December 2024. Thls report Is made solely to the charlty's Trustees, as a bodyi in accordance wlth Part 4 of the charltles (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charlty's Trustees those matters I am requlred to state to them In an Independent examlner's report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responslbility to anyone other than the charlty and the charlty's Trustees as a bodyi for my work or for thls report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the charlty you are responslble for the preparatlon of the accounts In accordance wlth the Charltles Act 20 11 ("the Act"). report In respect of my examlnatlon of the Trust's accounts carrled out under sectlon 145 of the 2011 Act and In carrylng out my examlnatlon, I have followed all the appllcable Dlrectlons given by the Charlty Comm155ion under sectlon 145(5)(b) of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examlnatlon. I conflrm that no materlal matters have come to my attentlon In connectlon wlth the examlnatlon which glves me cause to belleve that in, any materlal respect: accountlng records were not kept In accordance wlth sectlon 130 of the Act; or the accounts did not accord wlth the accountlng records; or the accounts dld not comply wlth the appllcable requlrements concerning the form and content of accounts set out In the Charltles (Accounts and Reports) Regulatlons 2008 other than any requlrement that the accounts glve a 'true and falr. view whlch Is not a matter consldered as part of an Independent examlnatlon. I have no concems and have come across no other matters In connection wlth the examlnatlon to whlch attentlon should be drawn In thls report in order to enable a proper understandlng of the accounts to be reached. Jonathan Mlller FC4 15 May 2025 Seavor (South Cumbria) Limlted Chartered Accountants The Offlce Mardale Road Penrith Cumbria CAII 9EH 12-
THE EDEN RIVERS TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted funds 2024 Total Funds 2024 Total funds 2023 INCOME FROM Donatlons and legacies Charitable actlvltles Investments Note 41,884 34,686 817,652 76,570 817,652 6,769 900,991 33,744 912,349 8,407 954,500 6,769 48,653 TOTAL INCOME 852,338 EXPENDITURE ON: Flalslng funds Charltable artivltSes Other charltable actlvltles 807 807 3,023 43,246 43,246 820,775 821,582 864,021 1,094,215 Total expendlture 864,828 1,097,238 Ntt Income / (expendlture) befor¢ other galns and losses ,407 30,756 36,163 (142,738) other recognlsed galn81(loJies): Other galns Net movement In funds 5,407 30,756 36,163 (142,738) RECONCILIATION OF FUNDS Total funds brought forward 216,837 169,817 386,654 529,392 TOTAL FUNDS carrled forward 222,244 200,573 422,817 386,654 13-
THE EDEN RIVERS TRUST BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notss FIXED ASSETS Tanglble Assets Investments 12 13 17,048 loo 18,625 loo 17,148 18,725 CURRENT ASSErs Debtors Cash at bank and In hand 14 327,280 284,055 611,335 149,211 289,042 438,253 CREDITORS Credltors: amount5 falling due wlthin one year 15 (205,666) (70,324) NET CURRENT ASSETS 405,669 367,929 TOTAL ASSETS LESS CURRENT LIABILITIES 422,817 386,654 TOTAL NET ASSETS 422,817 386,654 CHARITY PUNDS Restrlcted Funds: Unrestrlcted funds.. 17 17 200,573 222,244 169,817 216,837 TOTAL FUNDS 422,817 386,654 14-
THE EDEN RIVERS TRUST BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees conslder that the charlty is entitled to exemption from the requirement to have an audlt under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not requlred the charlty to obtain an audlt for the year in question in accordance with section 476 of the Act. The Trustees acknowledge thelr respons5bilities for complylng wlth the requlrements of the Companie5 Act 2006 wlth respect to accountlng records and for preparing financlal statements whlch glve a true and fair vSew of the state of affalrs of the charlty as at 31 December 2024 and of its net resources expended for the year In accordance wlth the requlrements of sections 394 and 395 of the Act and whlch otherwlse comply wlth the requirements of the Companies Act 2006 relatlng to flnanclal statements, so far as appllcable to the charity. The financlal statements have been prepared In accordance wlth the provlslons appllcable to small companle5 wlthln Part 15 of the Companles Act 2006 and In accordance wlth the Flnancial Reportlng Standard for Smaller Entltle5 (effectlve January 2015). The flnanclal state were approved by the Trustees on 15 May 2025 and slgned on thelr behalf, of J Quinton, Chalr 15-
THE EDEN RIVERS TRUST STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from oporatlng artlvltles Net cash used in operatlng activitie5 5,515) 101,576) Cash flows from Inve$tlng actlvltles Dividends, Interests and rents from Investments Purchase of tanglble flxed assets Net ¢)sh provlded byl{used In) Inv¢$tlng actlvltles 6,769 (6,241) 528 8,407 (4,888) 3,519 Cash flows from flnanclng actlvltlej Subsldlary loan repayment Not movement In funds Change In ca¥h and cash equlvalent In the yèar Cash and cash equivalents at the beglnnlng of the year (4,987) 289,042 (98,057) 387,099 C4$h Jnd cash equlv41Mts 284,055 289,042 The notes on pages 17 to 28 form part of these financlal statements -16-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 I. GENERAL INFORMATION The Eden Rivers Trust Is a prlvate company limlted by guarantee, domlclled Sn England and Wales, registratlon number 06460807. The reglstered offlce Is 4 Cowper Road, Gllwilly Industrial Estate, Penrlth, CAII 9BN. 2. ACCOUNTING POLIcIes 2.1 Basis of preparatlon of flnanclal statements The financial statements have been prepared In accordance wlth the Charltles SORP (FRS 102) Accountlng 360 and Reportlng by Charlties: Statement of Recommended Practlce appllcable to charltles preparing thelr accounts In accordance with the Flnanclal Reporting Standard appllcoble In the UK and Republic of Ireland (FRS 102) (effectlve l January 20 19), the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) and the Companles Att 2006. The Eden Rlvers Trust meets the deflnltlon of a publlc beneflt entity under FRS 102. Assets and Ilabllltles are Inltlally recognlsed at hlstorlcal cost or transactlon value unless otherwlse stated In the relevant accountlng policy. 2.2 Income All Income Is recognlsed once the charlty has entitlement to the Income, It Is probable that the Income wlll be recelved, and the amount of Income recelvable can be measured reliably, Income tax recoverable In relatlon to Investment Income Is recognlsed at the tlme the Investment Income Is recelvable. 2.3 Expendlture Expendlture Is recognlsed once there Is a legal or constructlve obllgatlon to transfer economlc beneflt to a third party, It is probable that a transfer of economic benefit5 wlll be requlred In settlement and the amount of the obllgatlon can be measured rellably. Expenditure Is classifled by actlvlty. The costs of each actlvity are made up of the totol of dlrect costs and shared costs, Includlng support costs Involved In undertaklng each actlvlty. Dlrect costs attrlbutable to a slngle actlvlty are allocated dlrectly to that activlty. Shared costs whlch contrlbute to more than one activlty and support costs whlch are not attrlbutable to a slngle actlvlty are apportloned between those actlvlties on a basls conslstent wlth the use of resources. Central staff costs are allocated on the basls of tlme spent, and depreclatlon charges allocated on the portlon of the asset's use. Expendlture on ralslng fund5 Includes all expendlture Incurred by the Charlty to ralse fund5 for Its charitable purposes and Includes Costs of all fundralslng actlvltles event5 and non-charitable trading. Expendlture on charltable actlvities is Incurred on directly undertaking the activitles which further the Charity's objectives, as well as any a550ciated support costs. All expendlture Is incluslve of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposlt Is included when receivable and the amount can be measured reliably by the Charltyi this is normally upon notification of the interest pald or payable by the Instltutlon with whom the funds are deposlted. 17-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 2. ACCOUNTING POLICIES (contlnued) 2.5 Tanglble fixed assets and depreclatlon Tanglble fixed assets costlng £500 or more are capitallsed and recognlsed when future economlc benefits are probable and the cost or value of the asset can be measured reliably. Tanglble flxed assets are Initially recognised at cost. After recognitlon, under the cost model, tangible fixed assets are measured at cost less accumulated depreclatlon and any accumulated impalrment losses. All costs Incurred to brlng a tanglble flxed asset Into Its Intended worklng condition should be Included In the measurement of cost. Depreclation Is charged so as to allocate the cost of tanglble flxed assets less thelr resldual value over thelr estlmated useful lives, Depreclatlon Is provlded on the followlng bases., Short-term leasehold property Plant and machlnery Motor vehlcles Flxtures and flttlngs over the lease term 200/0 Stralght Ilne 25010 Stralght line 250/0 Stralght line 2.6 Investments Flxed asset Investments are a form of flnanclal Instrument and are Inltlally recognised at thelr transactlon cost and subsequently measured at falr value at the Balance sheet date, unless the value cannot be measured rellably ln which case It Is measured at cost less Impalrment. Investment galns and losses, whether rea115ed or unreallsed, are comblned and presented as 'Galns/(Losses) on investments, In the Statement of fi nanclal actlvltles. Investments In subsldlarles are valued at cost less provlslon for Impal rment. 2.7 Debtors Trade and other debtors are recogn15ed at the settlement amount after any trade dlscount offered. Prepayments are valued at the amount repald net of any trade dlscounts due. 2.8 Cash at bank and In hand Cash at bank and In hand Includes cash and short-term hlghly Ilquld Investments with a short maturlty of three months or less from the date of acqulsltlon or openlng of the depo51t or slmllar account. 2.9 Lloblllties and provisions Liabllltles are recognlsed when there is an obllgatlon at the Balance Sheet date as a result of a past event, it is probable that a transfer of economlc benefit wlll be requlred In settlement, and the amount of the settlement can be e5tlmated lIably. Liabllltles are recognised at the amount that the Charity antlclpate5 It wlll pay to settle the debt or the amount It has recelved as advanced payments for the goods or services It must provide. Provislons are measured at the best estimate of the amounts requlred to settle the obllgatlon. Where the effect of the time value of money Is material, the provislon is based on the present value of those amounts, dlscounted at the pre-tax discount rate that reflects the rlsks speciflc to the liability. The unwlnding of the discount is recognlsed in the Statement of financlal activitles as a finance cost. -18-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 2. ACCOUNTING POLICIES (contlnued) 2.10 Flnanclal instruments The Charity only has financlal assets and flnancial Ilabllltles of a klnd that qualify as basic flnancial instruments. 8aslc financial Instruments are initially recognlsed at transaction value and subsequently measured at their settlement value with the exception of bank loans whlch are subsequently measured at amortised cost uslng the effective Interest method. 2.11 Penslons The CharSty operates a deflned contrlbutlon penslon scheme and the penslon charge represents the amounts payable by the Charlty to the fund In respect of the year. 2.12 Fund accountlng General funds are unre5trlcted funds whlch are avallable for use at the discretlon of the Trustees In furtherance of the general objectives of the Charlty and whlch have not been de51gnated for other purposes. Restricted funds are funds whlch are to be used In accordance wlth speclflc restrlctlons Imposed by donors or which have been ralsed by the Charlty for partlcular purposes. The costs of raising and admlnlsterlng such funds are charged against the speciflc fund. The alm and use of each restrlcted fund Is set out In the notes to the flnancial statements. Investment Incomei galns and losses are allocated to the approprlate fund. 3. Income from donatlon$ and logacles Unrestrlcted fund$ 2024 Rostrlcted funds 2024 Total Funds 2023 Total funds 2024 Donatlons Simllar Incomlng resources 41,238 646 30.000 4,686 71,238 5,332 28,260 5,484 TOTAL DONATIONS AND LEGACIES 41,884 34,686 76,570 33,744 4. Income from charltable a¢tivities Unrestrlrted funds 2024 Restrlcted funds 2024 Total Funds 2024 Total Funds 2023 Income from charltable actlvltles Conservation 817,652 817,652 912,349 TOTAL INCOME FROM CHARITABLE ACTIVITIES 817,652 817.652 912,349 19-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 5. Analysis of Income from charltable actlvltles Unrestricted fund$ 2024 Restricted funds 2024 Total Funds 2024 Total Funds 2023 Envlronment Agency National Lottery Herltage Fund Unlted Utiiitles Cumberland Councll Natural England The Filver5 Trust DEFRA North Pennlnes AONB Cumbrla Communlty Foundatlon Yorkshlre Dales Natlonal Par RSPB Eden DlstrSct Councll Garfleld Weston Foundatlon Network Rall Oglesby Charltable Trust The Ernest Cook Trust Brampton 2 Zero EC Graham Cumbrlan Lake Dlstrlct Natlonal Park Me5srs Flndlay Penrlth Town Councll Westmorland & Furness Councll 143,484 230,051 11,253 11,018 56,809 29,615 72,976 5,718 143,484 230,051 11,253 11,018 56,809 29,615 72,976 5.718 135,606 138,478 253,474 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 4,048 65,750 4,048 65,750 30,000 30,000 15,000 29,000 12,000 16,000 21,000 500 03,430 817,652 15,000 29,000 12,000 16,000 21,000 500 63,430 817,652 912,349 6. Investment Income Unrestrlcted funds 2024 Restrlcttd funds 2024 Tptal Funds 2024 Total Funds 2023 Investment Income 6,769 6,769 8,407 7. Analysis of expendlture on charltable actlvlties Summary by fund type Unrestrirted funds 2024 Restrlcted fundg 2024 Total Funds 2024 Total Funds 2023 Expenditure from charitsble activitles Conservation 43,246 820,775 864,021 1,094,215 -20-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 8. Analysls of expendlture by activities Actlvltles undertaken dlrectly 2024 Support costs 2024 Totsl Funds 2024 Total Funds 2023 Expendlture from charltsble actlvitles Conservation 761,613 102,408 864,021 1,094,215 Analysls of dlrect costs Conservatlon 2024 Totsl 2024 Totsl 2023 staff costs Dlrect project costs 465,874 295,739 465,874 295,739 761,613 398,738 595,182 993,920 761,613 Analysls of support costs Conservatlon 2024 Total 2024 Total 2023 staff costs Depreclation Offl¢e cost5 Ac¢ountsncy Repalrs and malntenances Governance costs 8,179 7,818 58,921 2,062 32 25.396 8,179 7,818 58,921 2,062 32 25,396 6,983 8,590 55,726 2,099 153 26,744 102,408 102,408 100,295 9. Independent Examlners Remuneratlon 2024 2023 Fees pèyable to the Charlty's Independent examlner for the Independent examlnatlon of the Charlty's annual accounts 1,800 2,065 10. Staff costs 2024 2023 Wages ènd salaries Soclal security costs Contrlbution to defined contrlbutlon penslon schemes 426,796 36.538 36.115 344,232 30,052 31,437 499,449 405,721 21-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 io. staff costs (continued) The average number of persons employed by the Charlty durlng the year was as follows: 2024 2023 No. No. Management Admlnistratlon staff Project staff li io 14 13 No employee recelved remuneratlon amountlng to more than £60,000 In elther year. 11. Trustees, remuneratlon and expenses During the year, no Trustees recelved any remuneratlon or other beneflts (2023: £nll). Durlng the year ended 31 December 2024, no Trustee expenses have been Incurred (2023: £nil). -22-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 12. Tanglble fixed assets Short- term leasehold Plant and property machlnery Flxtures Motor and vehicles flttlngs Total Cost As at l January 2024 Addltlons As at 31 December 2024 3,480 39,591 38,451 87,727 6,241 93,968 169,249 6,241 175,490 3,480 39.591 38,451 Depreciatlon As at l January 2024 Provlded durlng the perlod As at 31 December 2024 1,160 497 35,41S 1,337 36,752 38,451 75,598 5,984 81,582 150,624 7,818 158.442 1,657 38,451 Net Book Value As at 31 December 2024 2,839 12,386 17,048 As at 31 December 2023 2,320 4,176 12,129 18,625 -23-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FQR THE YEAR ENDED 31 DECEMBER 2024 13. Flxed asset Investments Envestment$ in subsldlary companles Cost ol valuation At l January 2024 AT 31 DECEMBER 2024 loo lao PRINCIPAL SUBSIDIARIES The followlng was a subsldlary undertaklng of the charlty: Name Company number 10332734 Reglster offlce or prlnclpal Place of buslness 4 Cowper Road, Penrlth, CAII PR Marketlng and 4BN Envlronmental Consultlng Prlnclpal actlvlty Eden Source tD Sea Ltd Class of share¥ Ordlnary Holdlng Included In consolldatlon No loo% The flnanclal results of the subsldlary for the year were: Name N¢t •$g¢t• Eden Source to Sea Ltd 152 14. Debtors 2024 2023 Trade debtors Prepayments and accrued Inwme Grants re1Vable 297,414 6,057 23,809 131,887 5,507 11,817 327,280 149,211 15. Credltors: Amounts lalllng due wlthln one year 2024 2023 Trade credbtors other taxation and soclal securfty other creditors Accruals and deferred Income 74,160 10,598 59,857 8,402 120,908 2,065 205,666 70,324 -24-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 16. Financial instruments 2024 2025 Flnanclal assets Financial assets measured at fair value through Income and expendlture 284,055 289,042 Flnancial assets measured at fair value through Income and expendlture comprise cash and bank balances. 17. Statement of funds statement of funds - current year Balance at 31 December 2024 Balance at i January 2024 Incoming resources Resources expended Galnsl (Losses) Unrestrlcted funds General fund 216,837 48,653 {43,246) 222,244 Restrlcted funds Restricted fund 169,817 852,338 (821.582) (864,828) 200.573 TOTAL OF FUNDS 386,654 900,991 422,817 Statement of funds - prlor year Balance at 31 December 2023 8alBnce at I January 2023 Incornlng resour5 Resources expended Galnsl (Losses) Unregtrlcted funds General fund 203,795 39,990 (26,9481 216,837 Restrlcted fund$ Restrlcted fund 325,597 914,510 954,500 (1,070,290) {1,097,238) 169,817 386,654 TOTAL OF FUNDS 529,392 -25-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 18. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at i January 2024 Income Expendlture General funds Restrlcted funds 216,837 169.817 386.654 48,653 852,338 900,991 (43,246) (821,582) 864,828 222,444 200,573 422,817 Summary of funds - prlor year Balance at 31 December 2023 Balance at I January 2023 Income Expendlture General fund5 Restrl¢ted funds 203,795 325,597 529,392 39,990 914,510 954,500 126,9481 (1,070,290} 1,097,238) 216,837 169,817 386 654 19. Analysis of net assets between funds Analysls of net a$$ets between funds - current year Unrestrlcted funds 2024 Re¥trlthd funds 2024 Total Funds 2024 Tanglble flxed assets Flxed assets Investments Current assets Credltors due wlthln one year 17,048 loo 336,602 (131,506) 222,244 17,048 loo 611,335 (205,666) 422,817 274,733 (74, 160) 200,573 AnalyAls of net assets between fund$ - prlor year Unrestrlcted fund5 2023 Restrtcted funds 2023 Total Funds 2023 Tangible flxed assets Flxed assets Investments Current assets Creditors due wlthln one year 18,625 loo 212,086 (13,974) 216,837 18,625 loo 438,253 (70,324) 386,654 226,167 156,350) 169,817 -26-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 20. Reconclllation of net movement In funds to net cash flow from operating activitles 2024 2023 Net expendSture for the year (as per Statement of Flnanclal Activltles) Adjustments for: Depreciation charges Dlvidends, Interest and rents from investments (Increase)/Decrease in debtors Increase In creditors 36,163 142,738 7,818 (6,769) (178,069) 135,342 (5,515) 8,590 (8,407) 12,441 28,538 Net ¥h provlded by/{usod In) operatlng actlvltles (101,5761 21. Analysls of cash and cash equlvalents 2024 2023 Cash In hand and at bank 284,055 289,042 Total cash and cash equlvalents 284,055 289,042 22. Analysis of changes In net debt Ati January 2024 At31 D¢¢ember 2024 Cash flow• Cash at bank and In hand 289,042 289,042 (4,987) 4,987 284,055 284 055 23. Penslon commltments The charlty operates a deflned contrlbutlons penslon scheme. The assets of the scheme are held separately from those of the charlty In Independently adminlstered funds. The pension cost charge represents contributlons payable by the charity to the funds and amounted to £36,115 (2023: £25,726). Contrlbutlons totalling £nll (2023: £nll) were payable to the funds at the balan sheet date. -27-
THE EDEN RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 24. Operatlng lease commitments At 31 December 2024 the Charlty had commltments to make future mlnlmum lease payments under non-cancellable operating leases as follows: 2024 2023 Later than l year and not later than 5 years Later than 5 years 26.250 57,917 26,250 84,167 84.167 110,417 The followlng lease payments have been recognlsed as an expense In the Statement of flnanclal actlvlties: 2024 2023 Operatlng lease rentals 28,000 28,000 -28-