2022-07-31-accounts - Severn Rivers Trust

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Trustees			Mr CRS Birrell
			Mrs PA Cameron Watt
			Professor I P Maddock
			MrJOlstead
			MrJFSmithson
			Mr AWedgbury
			Mr SSSidhu
			Mr ITGordon		(Appointed	1 May 2022)
			Mr ASHarvey		(Appointed	1 March 2022)
			Ms LStefantsova		(Appointed	1 March 2022)
Secretary			Ms L Lafferty
Charity registration		number	1134096
Company	registration	number	06642409
Registered	office		1 Hope House	Farm Barns
			Martley
			Worcestershire
			WR6 6QF
Auditor			Ormerod Rutter Limited
			Chartered Accountants
			The Oakley
			Kidderminster	Road
			Droitwich
			Worcestershire
			WR9 9AY
Senior management		team	Joe Pirnblett -	Chief Executive Officer (appointed				August		2021)
			Liane Lafferty - Head of		Finance
			Melissa Hoskings - Head of Land			Management		(resigned		August 2021)
			Alice Fallon - Head of Community			Engagement
			Matt Marston - Head of		Land Management		(appointed		November 2021)
			Ashley Deane	- Head of River Restoration

			Page
Welcome from the chair
Chair's report
Trustees' report			3 —14
Independent	auditor's	report	15—17
Consolidated	statement	offinancial activities	18
Consolidated	balance	sheet	19
Company balance sheet			20
Consolidated	statement	ofcash flows	21
Notes to the	financial statements		22 —37

Mr 8 Mrs Marsh		~	Mr M Small	~	Cheltenham Festivals
Mrs P Cameron	Watt	~	Mr STodd	~	Community
Mr C Birrell		~	Ms C Barr		Infrastructure Levy
Dr AWheeler		~	Mrs M Lavin	o	Department for
Mr A Croft		~	Mrs J Smith		Environment, Food and
Mr BWatts		~	Mr G Pluckwell		Rural Affairs
Mr T Hoskins		~	Ms R Duncan		Environment Agency
Mr PWhite Mr RSmithson		~ ~	Mrs N Campbell Mr C Berryman	~	Natural Resources Wales
Ms A Routley Mr M Chesshire		~ ~	MrJ White Mr M Buckler	~	European Agricultural Fund for Rural
Mr M Marston		~	Miss J Roberts		Development
MrJ Glover Mr W Campbell Mr A Rees Mr D Kelly Ms K Piercy MrTCoe Mrs DJones		~ ~ ~ ~ ~ ~	Mr0 Davey Mrs J Winter Mr K Fry Miss R Davies Miss G Hyde Hook-a-Gate and Annscroft Anglers	~ ~ ~ ~	European Union LIFE Nature Programme European Regional Development Fund European Maritime Fisheries Fund Greggs Community Fund
Mr BGoldsmith Mr J Bellis Mr L Willietts MrTJacklin Mrs LWorsfold Mrs LJones Mr R Morris Mrs STaylor		~ ~ ~ ~ ~	The Salopian Flyfishers Association Working Planet Frank Parkinson Agricultural Trust Shipston Area Flood Action Group Marsh Christian Trust	~ ~ ~ ~ ~ ~ ~	Heritage Lottery Fund Powys County Council Radnor Hills Severn Severn Trent Water Shropshire Council Welsh Government

		Unrestricted	Restricted		Unrestricted	Restricted
		funds	funds	Total	funds	funds	Total
Income from:		2022	2022	2022	2021	2021	2021
							E
Donations and		174,263	1,422,376	1,596,639	178,927	1,316,029	1,494,956
grants
Other trading		29,674		29,674	19,621		19,621
activities
Other income					17,902		17,902
Total income		203,937	1,422,376	1,626,313	216,450	1,316,029	1,532,479
Ex enditure on".
Raising funds		53,066		53,066	188,778		188,778
Charitable		(60,963)	1,473,369	1,412,406	(94,210)	1,145,059	1,050,849
activities
Corporation tax
Total		(7,897)	1,473,369	1,465,472	94,568	1,145,059	1,239,627
expenditure
Net incomel
(expenditure)l		211,834	(50,993)	160,841	121,882	170,970	292,852
Net movement	in
funds
Reconciliation	of
funds:
Total funds		(6,995)	380,319	373,324	(128,877)	209,349	80,472
brought forward
Total funds		204,839	329,326	534,165	(6,995)	380,319	373,324
carried forward

				2022		2021
			Notes
Fixed assets
Tangible assets			12		9,753	15,607
					9,753	15,607
Current assets
Debtors			14	255,920		351,706
Cash at bank and	in	hand		1,236,289		706,103
				1,492,209		1,057,809
Creditors: amounts		falling due within one
year			15	~967,797		698,723
Net current assets					524,412	359,086
Total assets less	current liabilities				534,165	374,693
Creditors."amounts		falling due after more				(1,369)
than one year
Total net assets					534,165	373,324
Charity funds Restricted funds Unrestricted funds			18 18		329,326 204,839	380,319 ~6,995
Total funds					534,165	373,324

				Notes	2022 f		2021 F
Fixed assets
Tangible assets				12		9,473	15,050
Investments				13		1
						9,474	15,051
Current assets
Debtors				14	384,780		236,351
Cash at bank and	in	hand			870,831		476,198
					1,255,611		712,549
Creditors: amounts year		falling	due within one	15	~731,807		354,073
Net current assets						523,804	358,476
Total assets less	current		liabilities			533,278	373,527
Creditors: amounts		falling	due after more	16			(1,369)
than one year
Total assets						533,278	372,158
Charity funds
Restricted funds Unrestricted funds						329,326 203,952	380,319 ~8,181
Total funds						533,278	372,158

			Notes	2022		2021
Cash flows from operating	activities
Cash generated from operations			23		745,471		105,459
Taxation paid							(470)
Net cash flow from operating		activities			745,471		104,989
Cash flows from investing	activities
Purchase oftangible fixed assets				1,356		19,736
Net cash used in investing	activities				(1,356)		(19,736)
Cash flows from financing	activities
Hire purchase Repayment of loan				(8,154) ~205,775		9,522
Net cash used in financing	activities				213,929		9,522
Change in cash and cash					530,186		94,775
equivalents
Cash and cash equivalents	at				706,103		611,328
beginning ofthe year
Cash and cash equivalents	at	end of
the year					1,236,289		706,103

Plant and	machinery	-straight	line over 10years
Motor vehicles		- straight	line over 4 years
Computer	equipment	-straight	line over 3years

Donations	grants
	Unrestricted	Restricted		Unrestricted	Restricted
	funds	funds	Total	funds	funds	Total
	2022f	2022	2022	2021	2021	2021
Donations	64,397		64,397	15,573	1,000	16,573
Grants	109,866	1,422,376	1,532,242	163,354	1,315,029	1,478,383
	174,263	1,422,376	1,596,639	178,927	1,316,029	1,494,956

		Unrestricted	Restricted		Unrestricted	Restricted
		funds	funds	Total	funds	funds	Total
		2022	2022	2022	2021	2021	2021
			E			F	K
SREconsultancy		29,382		29,382	19,729		19,729
income
SREother income		292		292	(108)		(108)
		29,674		29,674	19,621		19,621
Other income
		Unrestricted	Restricted		Unrestricted	Restricted
		funds	funds	Total	funds	funds	Total
		2022	2022	2022	2021	2021f	2021 F
Furlough	income				17,902		17,902
					17,902		17,902

Raising funds
			Unrestricted	Unrestricted
			2022	2021
Project costs			42,691	175,249
Rent and rates			5,250	4,668
Motor and travel expenses			109
Bank charges			228	180
Printing and stationery			189	105
Telephone and postage				116
Governance costs			3,924	4,282
Sundry expenses			67	1,055
Staff training			330	2,622
Depreciation oftangible		fixed assets	278	501
			53,066	188,778
Charitable activities
			2022	2021
Staff costs			547,437	506,219
Depreciation and impairment			6,932	8,107
Project, travel and subsistence			48,143	23,038
Project work			722,977	440,962
Other project costs			9,653	11,831
			1,355,142	990,157
Share ofsupport costs		(see note 8)	62,152	54,386
Share ofgovernance	costs (see note 8)		15,112	6,306
			1,412,406	1,050,849
Analysis by fund
unrestricted funds			(60,963)	(94,210)
Restricted funds			1,473,369	1,145,059
			1,412,406	1,050,849

O	R THE YEAR ENDED	R THE YEAR ENDED	31JULY 202	2
8	Support costs
			Support	Governance	Total	Support	Governance	Total
			costs	costs	2022	costs	costs	2021
					F	F
	Travel and	subsistence	8,249		8,249	4,352		4,352
	Marketing	costs	5,732		5,732	4,696		4,696
	Other support costs		46,905		46,905	44,717		44,717
	Gain/loss	on foreign
	exchange		1,266		1,266	621		621
	Governance costs			15,112	15,112		6,306	6,306
			62,152	15,112	77,264	54,386	6,306	60,692
	Analysed	between:
	Charitable	activities	62,152	15,112	77,264	54,386	6,306	60,692

			Group	Group
			2022	2021
			Number	Number
Management			4	4
Field Operatives			18	17
			22	21
Employment costs	Group	Group	Company	Company
	2022	2021	2022	2021
			F
Wages and salaries	491,868	491,513	470,159	431,403
Social security costs	40,374	39,625	40,374	39,625
Other pension costs	36,904	35,191	36,904	35,191
	569,146	566,329	547,437	506,219

			2022	2021
				Z
Depreciation			7,210	8,608
Auditors'	remuneration	-audit	5,395	5,150
Auditors'	remuneration	-other services	2,945	2,890
Operating	lease rentals		6,717	11,392

Group
				Plant and	Computer	Motor
				Machinery	Equipment	Vehicles	Total
						F
Cost
At 1 August 2021				15,062	27,197	35,592	77,851
Additions					1,356		1,356
At 31 July	2022			15,062	28,553	35,592	79,207
Depreciation		and
impairment
At 1 August		2021		14,265	22,879	25,100	62,244
Depreciation		charged	in the	797	2,854	3,559	7,210
year
At 31 July	2022			15,062	25,733	28,659	69,454
Carrying	amount
At 31 July	2022				2,820	6,933	9,753
At 31 July	2021			797	4,318	10,492	15,607
Company
				Plant and	Computer	Motor
				Machinery	Equipment	Vehicles	Total
				F		F	f.
Cost
At 1 August		2021		15,062	25,695	35,592	76,349
Additions					1,356		1,356
At 31 July	2022			15,062	27,051	35,592	77,705
Depreciation		and
impairment
At 1 August		2021		14,265	21,935	25,100	61,300
Depreciation		charged	in the
year				797	2,576	3,559	6,932
At 31 July	2022			15,062	24,511	28,659	68,232
Carrying	amount
At 31 July	2022				2,540	6,933	9,473
At 31 July	2021			797	3,761	10,492	15,050

Company
	Investment
	in
	subsidiary
	company
Cost or valuation
At 1 August 2021 8 31 July 2022	1
Carrying amount
At 31 July 2022
At 31 July 2021

ebtors
		Group		Company
Amounts falling due within one year:		2022	2021	2022	2021
				E
Trade debtors		65,762	183,109	65,762	137,568
Amounts due	to group undertakings			128,860	12,554
VAT debtor			10,607
Prepayments	and accrued income	190,158	157,990	190,158	86,229
		255,920	351,706	384,780	236,351

					Group		Company
					2Q22	2021	2022	2Q21
Other borrowings						205,775
Obligations under finance				leases	1,368	8,153	1,368	8,153
Other taxation and		social security			52,253	11,178	12,560	10,697
Trade creditors					18,595	9,424	18,446	9,058
Other creditors					2,317	707	2,317	707
Accruals	and deferred		income		893,264	463,486	697,116	325,458
					967,797	698,723	731,807	354,073
					Group		Company
					2Q22	2Q21	2Q22f	2Q21
Deferred	income
Deferred	income at 1		August 2021		441,051	405,159	305,422	253,151
Resources deferred		during		the year	731,003	52,271	537,345	52,271
Amounts	released	from previous			(291,051)	(16,379)	(155,423)
pel'lods
					881,003	441,051	687,344	305,422

reditor	s: amounts falling due a	fter more than one year
		Group		Company
		2Q22f	2Q21 Z	2022f		2Q21f
Obligations under finance leases			1,369			1,369
Finance lease obligations
Future	minimum lease payments	due under finance leases:			2Q22	2021
Within	one year				1,368	8,153
In two	to five years					1,369
					1,368	9,522

							Movement in funds
					Balance at	Incoming	Resources	Transfers	Balance at
					1August	resources	expended		31July
					2021				2022
	Unrestricted		funds
	General overhead			fund	(14,785)	18,116	89,802		93,133
	Fishing passports				3,704				3,704
	Grants				2,920	133,034	(28,837)		107,117
	Severn Rivers Ecology				1,166	52,787	53,068		885
					6,995	203,937	7,897		204,839
	Restricted	funds
	Unlocking	the Severn			46,242	66,669	(65,058)		47,853
	Cain SMS				(485)	109,654	(107,259)		1,910
	Nant SMS CaBA —All projects				(1,326) 22,718	43,890 140,000	(51,752) (140,453)		(9,188) 22,265
	Guilsfield Brook				(7,381)	67,624	(49,399)		10,844
	Knighton				(1,674)	131,250	(117,928)		11,648
,	Leam				12,311	50,000	(27,507)		34,804
	Shipston				70,923	60,000	(74,007)		56,916
	STEPS Cound Brook				(1,253)	30,822	(17,252)		12,317
	Teme				11,781	35,000	(35,314)		11,467
	Wise				17,217	(26,318)	9,100		(1)
	ACNRW				3,811	130,524	(119,948)		14,387
	Aine				21,964		(11,488)		10,476
	BCBN				(1)	100,076	(54,937)		45,138
	EMFF				18,560	866	(29,588)		(10,162)
	Kings ofthe		River			10,000	(1,778)		8,222
	Ryeford Mill				68,725		(9,314)		59,411
	Springs of	Rivers			24,782		(19,780)		5,002
	Warwick Eel Traps				(287)		(431)		(718)
	Weg Frome				(9,773)	19,778	(12,748)		(2,743)
	Worfe					9,600			9,600
	Resilient River Teme						(27,859)		(27,859)
	Sustainable		Farming		(3,851)	27,694	(13,715)		10,128
	llley Brook					13,333	(17,002)		(3,669)
	Woodland	for Water				18,456	(19,477)		(1,021)
	Carter Weir					85,000	(29,911)		55,089
	Mill Road						(27,759)		(27,759)
	Guilsfield Demonstrator						(16,135)		(16,135)
	Hoo Brook
	Corporate	Partners			1,207		(1,207)
	Reabrook				22,239		(21,135)		1,104
	Brimfield				7,113		(7,113)

Championing	Championing	Coastal		12,850	(12,850)
Cil Frome			(9,680)	60,000	(50,320)
Cradley			26,152	15,000	(41,152)
Enhancing	the Cound		(77)	50,000	(49,923)
FPAT			1,564		(1,564)
Kyre Brook			30,021	25,000	(55,021)
Reaction 2				95,000	(95,000)
Salmon in the		Stour	(188)		188
Severn Uplands Weg Toc			12,950 3,985	12,850 27,758	(25,800) ~23,773
			380,319	1,422,376	(1,473,369)	329,326
Total funds			373,324	1,626,313	1,4965,472	534,165

Statement off	unds - prior	year
				Movement in funds
		Balance at	Incoming	Resources	Transfers	Balance at
		1August	resources	expended		31July
		2020				2021
Unrestricted funds
General overhead	fund	(128,924)	15,573	98,566		(14,785)
Fishing passports		3,704				3,704
Grants		7,662	(4,742)			2,920
Furlough income		(13,546)	17,902	(4,356)
Severn Rivers Ecology		2,227	187,717	188,778		1,166
		(128,8?7)	216,450	(94,568)		(6,995)
Restricted funds
Aine		22,073	14,000	(14,110)		21,963
Brimfield		14,057	15,588	(22,532)		7,113
CaBA - All projects		48,144		(25,426)		22,718
Corve (inc. Springs EMFF	of Rivers)	26,619	7,862	(9) (15,921)		(9) 18,560
WEG - Frome		(7,395)	27,987	(30,365)		(9,773)
Soil and Maize		8,842				8,842
Leinwardine Fish Pass		3,300				3,300
Roots and Water		7,152				7,152
Safegaurding the Salmon		(51)				(51)
Salmon in the Stour STEPS - Cound Brook		16,638 539	30,000	(16,826) (31,793)		(188) (1,254)
Unlocking the Severn		45,747	112,195	(111,700)		46,242
Wise		2,401	142,483	(127,667)		17,217
Worfe NRW - Fisheries		(14,848) 3,366	15,002	(155) (3,366)		(1)
Shropshire River Friendly		8,962		(8,962)
Cradley		30,411	45,000	(49,439)		25,972
PhD Coventry University		1,157				1,157
Ryeford Mill		14,479	65,000	(25,192)		54,287
Severn Trent Champions		1,214		(423)		791
WEG - Spring of Rivers		(9,771)	54,041	(44,453)		(183)
ERDF - Wild Towns		(3,112)	81,685	(77,404)		1,169
ACNRW			111,967	(108,156)		3,811
Cain SMS			58,668	(59,154)		(486)
Nant Alan SMS ICW's		454	21,761	(23,087) (5,180)		(1,326) (4,726)
BCBN			5,000	(5,001)		(1)
CIL Frome				(9,680)		(9,680)
Corporate Partnerships			6,870	(5,663)		1,207
FPAT			12,000	(10,436)		1,564
Guilsfield Brook NFM				(7,381)		(7,381)
Knighton NFM				(1,674)		(1,674)
Kyre Brook NFM			36,000	(5,979)		30,021
Leam NFM			30,000	(17,689)		12,311
			-34-

Severn Uplands		12,950		12,950
Recovery
Shipston NFM		92,725	(21,802)	70,923
Upper Team NFM		55,000	(43,219)	11,781
Warwick Eel Traps			(287)	(287)
Where the Severn Smiles			(3,851)	(3,851)
SUMR		128,413	(128,413)
Water Volves		35,890	(36,861)	(971)
Rea Brook ABP		36,049	(13,810)	22,239
Springs of Rivers Smaller funds (grouped)	11,029 209,349	71,701 9,808 1,316,029	(46,920) 14,927 1,145,059	24,781 5,910 380,319
Total funds	80,472	1,532,479	(1,239,627)	373,324

nalysis	between funds - current year
			Unrestricted	Restricted	Total
			2022	2022	2022
					F
Funds balances at 31 July 2022 are represented		by:
Tangible	fixed assets			9,753	9,753
Current	assets/(liabilities)		204,839	319,573	524,412
			204,839	329,326	534,165
nalysis	between funds - prior year
			Unrestricted	Restricted	Total
			2021	2021 f.	2021f
Funds balances at 31 July 2021 are represented		by:
Tangible	fixed assets			15,607	15,607
Current	assets/(liabilities)		6,995	364,712	357,717
			6,995	380,319	373,324

	Group		Company
	2022	2021	2022	2021
Within one year	8,410	7,106	8,410	7,106
Between two and five years	10,728	3,814	10,728	3,814
	19,138	10,920	19,138	10,920

	Name of		Registered office	Nature of	Nature of	Class of	Class of	%	Held
	undertaking			business		shares	Direct		Indirect
						held
	Severn Rivers		1 Hope House Farm Barns,	Environmental		Ordinary	100		0
	Ecology Limited		Hope House Lane, Martley,	consulting
			Worcestershire,	activities
			WR6 6QF
	The aggregate capital		and reserves and the results	for the year	ofthe subsidiaries		are as follows:
	Name of undertaking			Profit/(Loss)		Capital	and
						Reserves
							F
	Severn Rivers Ecology Limited			(279)			886
23	Cash generated	from operations					2021		2021
							F		E
	Surplus/(deficit) for the year						157,624		292,852
	Adjustments for:
	Depreciation and	impairment oftangible fixed assets					7,210		8,608
	Taxation charge						281
	Movements in working capital:
	(Increase)/decrease		in debtors				(16,192)		(42,913)
	(Decrease)/increase		in creditors				596,548		(153,088)
	Cash generated	from operations					745,471		105,459
24	Analysis ofchanges		in net funds
					At 1August 2021		Cash flows	At 31July 2022
						F	F		F
	Cash at bank and	in	hand			706,103	530,186		1,236,289
	Loans falling due	within one year				(205,775)	205,775
	Obligations under	finance leases				(9,522)	8,154		(1,368)
						490,806	744,115		1,234,921