Charity Registration No. 1134096
Company Registration No. 06642409 (England and Wales)
SEVERN RIVERS TRUST AND IT'S SUBSIDIARY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ANNUAL REVIEW 2023-24
For Water. For Wildlife: For People
4 SEVERN
RIVERS TRUST

SEVERN RIVERS TRUST
(A company limited by guarantee)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs P A Cameron Watt
Professor I P Maddock
Mr J Olstead (Resigned September 23)
Mr J F Smilh50n (Resigned September 23)
MrA Wedgbury (Resigned July 231
Mr S S Sidhu
MrA S HaNey
Ms L Stefantsova
Mr l Gordon
Mr G Peters
Mrs L McFadzean
Secretary
Mrs J F Wharf- Head of Finance
Charity registration number
1134096
Company registration number
06642409
Registered office
Unit 1 Hope House Fam Barns
Martley
Worcestershire
WR6 6QF
Auditor
Ormerod Rutter Limited
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershir8
WR9 9AY
Senior management team
Joe Pimblett- Chief Executive Officer
Jennifer Wharf- Head of Finance (Appointed October 23)
Alice Fallon- Head of Community Engagement

SEVERN RIVERS TRUST
(A company limited by guarantee)
CONTENTS
Page
Welcoine from the Chief Executive Officer
Chair's report
Tru5tees' report
3-12
Independent auditor's report
13-15
Con501idated statement of financial aclivilie5
Consolidated balance sheet
17
Company balance sheet
18
Consolidated statement of cash flows
19
Notes lo the financial statements
20-36

SEVERN RIVERS TRUST
(A company limited by guarantee)
WELCOME FROM THE CHIEF EXECUTIVE OFFICER
FOR THE YEAR ENDED 31 JUL Y 2024
Chief Executive Officer, Joe Pimblett, reflects on another busy year
It's been another exciting and impactful year for our charity. Perhaps the most defining feature of the past 12
months has been an acceleralion in delivery on the ground, across several of our larger programmes of work
which have been months, if not years. in the making. There has been paleochannel & floodplain reconnection
works, gravel augmentation. woodland planting and the mass mobilisation of citizen scientists. Overseeing a
team delivering such a range of work, and at such a scale, is humbling and serves as a continued reminder of
what it's all about.
There have been many successes, with several that standout and require acknowledgement.
Building on the success of Ihe Catchment Sensitive Thinking Cooperative (CaSTCol, a national citizen
science inilialive, our Community Engagement Team have successfully rolled out our programme of
activities to new catchments thi5 year. in Warwickshire and the Black Country region. This work is
critical in both building an evidence base for the health of our river nehmork and providing opportunities
for the public to act and play their part in its recovery.
The conclusion of our collaborative Cinderford Low Flows initiative, a project seeking to build ecological
resilience lo abstraction, and wider environmental pressure5. Innovation and a great deal of
perseverance from the project team, have highlighted that even in the most modified of river catchment,
opportunities exist for subslanlial enhancement.
The delivery of an ambitious package of interventions throughout the Upper Teme catchment, including
a particularly exciting paleochannel reconnection scheme on the River Onny.
Alongside th6 outlined delivery, we have been busy looking to the future lo considér how we ready the Trust
for forthcoming opportunities. Central to this. has been the development of new programmes, with an emphasis
on large scale initiatives that have the potential to attract charitable and corporate investment. Alongside this,
we have reviewed our corporate structure, to ensure our finanGial framework and VAT position is appropriate
to our broadening income base. This has resulted in the fomialion of an overarching VAT group. encompassing
the ¢harity and our subsidiary trading arm. Sevem Rivers Ecology. l am Optimistic that this new structure,
coupled with the development of new 'shovel ready, inve51able programmes, positions the Trust well for future
growth.
Finally, I would like to conclude by acknowledging the unrelenting hard work, passion and dedication of our
staff team and Board of Trustees. whom without. the achievements of the past year would not have been
possible. We are a tèam galvanisod by a common passion to improve the water environmenl and will Continue
tirelessly in order to achieve our vision for the River Severn.

SEVERN RIVERS TRUST
(A company limited by guarantee)
CHAIR'S REPORT
FOR THE YEAR ENDED 31 JUL Y 2024
Tony Harvey. Chair of the board of trustees, assesses the year's achievements
As the Chair of Severn Rivers Trust I have the privilege of reflectin9 on what has been a further year of pos11ive
change for our organisalion which has been marked by both challenges and achievements.
Our rivers are a key component of the lifeblood of the natural world and essential to the health of our
cornmunities. wildlife. and ecosystems. However, they also face unprecedented threats from pollution, climate
change. and related habilal damage. Over the last year. the Trust has continued to address safeguarding of
the Severn and ils tributariès, collaborating with local community organisations, project partners, and key
individual local represantalives in the calchmenl to help drive meaningful change.
This report confirrns our turnover has successfully achieved a planned increase and the board of Iruslees has
acknowledged that our growth trajectory means we also need lo grow our management tools inlraslruclure.
The challenge of maintaining stable growth means we have rightly reviewed our working financial management
principles. This has included progress towards and completion of VAT registration during the period of the
report to provide a sound basis For managing development of the trust in years to come.
On govarnance, we ¢onlinue lo rightly address the board's statutory safeguarding responsibilities as a key
responsibility for our operational work. We have also carefully considered the board's composition leading to
implemenlalion of a programm8 of positive action to hopefully draw in new talent over the forthcoming year
working. with the Nominations Committee. From a personal perspective. I have endeavoured lo maintain and
develop relationships with strategic partners, recognising the value of raising the profile of the Trust, including
attending the Sevem Estuary Forum where I saw that Case Study 2 in this report Ilhe Fromebridge fish passl
highlighted in a presentation by the Environment Agency a5 an important example of successful calchment
partnership working.
Our sound financial performance along with the associated programmes outlined and Case Study examples
s&t out here dernonstrate SRT'S achievements over the year. Reflecting the hard work and passion oflhe entire
team. from dedicated staff led by the Chief Executive Officer. Joe Pimblett, through to the board of my fellow
trustees. Looking ahead to the forthcoming year, l arn mindful of emerging shifts in the funding landscape after
the 2024 change in gov8rnment. This rneans there will be challenges ahead for SRT. but l am conf5dent that
the Trust is in a robust position lo respond and adapt as needed.
Finally, I must also recognise that none of the positive impact achieved over the year would have been possible
without the support and shared efforts of our stakeholders, programme and project partners, volunteers and
the wide range of Communities in the Sevem catchment.
As you read through this report. I hope you are as inspired as l am by the progress we have made. We will
continue to develop suitable ambitions for the future.

SEVERN RIVERS TRUST
{A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
The Trustee5 have pleasure in presenting their report along with audited financial statements for the year ended
31 July 2024.
The financial statements have been prepared in accordance with the accounting policies set oijt in note 1 of the
financial statements and comply wilh Ihe charity's memorandum and articles of association, the Companies Act
2006 and 'Accounling and 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 IFRS 102)" (effective 1 January 20191.
Since the Gompany qualifies as small under section 383, the strategic report required of medium and large
companies under The Companies Act 2006 {Stralegi¢ Report and Directovs Report) Regulations 2013 has not
been provided.
Strategic overview
Sevem Rivers Trust was established as an active organisation, and we are not afraid lo get our feet wel in making
real lasting improvements for the river and its wildlife. Over the years we have continued lo grow in size, knowledge
and standing lo become a respected leading player in environmental conservation acrass the Severn Catchment,
but we have always remained true lo ourfounders, ethos.
We continue to work towards the Trust's 2025 strategy, which cover three key areas of our organisalion's
development: Finance, Operational Delivery and Research & Development. Each work area has its own Objective
{s} and set of Key Perforrnance Indicators, towards which we continue to work. The strategy serves as an
invaluable guide to infom resource allocation and funding investment, whilst also providing a benchmark around
which progress can be measured.
Our vision. to create a vibrant and resilient River Sevem for everyone, remains unchanged. Our current strategy
is helping us deliver against this by working towards the following key objectives..
1. Grow & diversify our income streams.
2. Develop our understanding of the catchment and contribute to the scientific evidence base, lo aid
future decision-making and support the development of new, innovative ways of working.
3. Inspire people and empower thern to take action for their rivers
4. lrnprove the ecological resilience of our land within the Sev8m catchment
S. Improve the ecological resilience of our rivers within the Sevem calchment
In summary, our ambition during Ihe current strategic period is one of evolution, not revolution. The scope of
activities will not radically change, but the scale at which we are doing them will do, by means of identifying and
exploiting new, innovative means of scaling our delivèry and expanding our impact along tha course of Britain's
longest river.
Achievements and performance
a. Key financial performance indicators
The Trust's financial reporting remains centred around monitoring progress towards the following four 2025
financial goals.

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Accumulate £150k of unreslricted financial reserves
Increase consolidated annual lumover to £2.8m
Increase SRE s annual net profit to £50k
Increase unrestricted income to comprise £25 10 of organisational turnover
Continued progress has been rnade toward5 all of the financial goals outlined during the course of this reporting
period.
As the Trust migrates toward5 a new VAT structure. which will enable primary trading activities lo be undertaken
from within the Trust, there will be a requirement lo review the outlined KPI'S. This will be undertaken in tandem
with selling the new strategy that will take the organisalion foNard from August 2025.
b. Review of activities
We Gontinue lo work closely with individuals and organisalions along the river induding farmers and land
managers, environmental organisations, communities and businesses to preserve Ihis fantastic river
catchment. The sub division of the Severn into six Isubl management catchments {Sevem Uplands: Shropshire
Middle Sevem; Worcestershire Middle Severn., Teme-, Warwickshire Avon and Severn Vale) helps us lo focus
resource and funding lo projects within the catchments. We continue to be a lead partner in the Catchment
Baséd Approach ICaBA> to coordinate activities to the benefit of the river and its surroundings. Priorities have
been established for each of the catchments in conjunction with our partners and government policy, and we
have worked hard to deliver these projects in the best possible way to achieve set 8nvironmenlal objectives
and value for money bringing wider benefits to society as a whole.
The Trusl will always work at a catchment Scale and continue lo influence river management on both sides of
the WelshlEnglish bordef to benefit the environment and communities. A snapshot ofwork undertaken over the
past 12 months is captured in the three case studies set out below.
Case study 1:
Funding source
This project was funded by Severn Trent Water's Community Fund. and the Department for Education's SUDS
in Schools programme.
Blaok County River Schools
Project objectives
Green-blue infrastructure to help reduce surface water flooding at four primary schools.
Extensive leaning programme including sessions on water stewardship. river wildlife and creativity
and wellbeing activities.
Communily celebrations lo bring children and families together and highlight the positive impact of
the project.
Progress to dale
W8 have built strong relationships with two schools in the Dudley area. Central to the project is the involvement
of students in every aspect of the environmental work. From tree plantin9 to designing and building rain
gardens, pupils frorn Reception to Year 6 have taken an active role in transforming their school grounds. This
hands-on involvement has given students a sense of ownership and responsibility for their local environment.
We have implemented a leaming programme that connects students with their rivers through arts, workshops.
and river visils. making environmenlal education more engaging and accessible. In total we have engaged just
over 1,000 people so far.

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED}
FOR THE YEAR ENDED 31 JUL Y 2024
Headline achievements
Natural flood management opportunities have been identified and installed. These spaces improve the school
environment, provide habitats for wildlife, and manage stormwater. They include..
Two green roof bike shelters
A green outdoor "readin9 nook. for children not in mainstream education
A rain garden within a paved playground area
Trough planters lo intercept runoff
We have had a positive impact on student wellbeing, with outdoor learning shown lo reduce stress and boost
cognitive development. We have received excellent feedback and praise from teachers informing us that the
project has fostered confidence and a sense of community, as students take pride in their work and the positive
changes they ve made to their school anvironment.
Figure1.' Hedge planting with 8 school group (lett) and a new green mofed bike sheller (righ¥ as part of our work
to rewild school grounds and engage children the ￿nse￿allOn ofiheir local environm&nl.
Ak.. i.
Nexl steps
As we enter the final year of the project. we will be delivering SUDS installation5 and learning activities i
two more schools. We have appointed mosaic artists to work with children in designing and creating a river
mural for each school. In addition lo this. we have successfijlly secured fvnding for a Pfoject extension 8nd
identified three further schools to lake paJt in the programme, bringing the total number of participating
schools to seven across the Black Country and Worcestershire.
Case study 2: Temeing with Life
Funding source
The programme comprises variou5 funding sources from acros5 several different projects. that colleclively,
are enabling a catchmenl-wide re5toralion programme in the headwaters of the Sevem's second largest
tribulary, the River Teme. Key fvnders include Environment Agency, Shropshire Hills National Landscape
{Farming in Protected Landscapes Programme) and Department for Environment and Rural Affairs
{DEFRA.I

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT} (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Programme objectives
The overarching ambition of our work is lo bring together nature conservation professionals and the farming
community to develop and implement new funding mechanisms that enables the widespread shiftto nature
friendly farming practice5 and habitat creation.
Progress to dale
The past year has been a frenzy of aclivity. Firstly, on a practical delivery level, there has been an ambitious
programme of nalure-based solutions delivered across farms in the region. This work has included installing
woody debris dams, creating wetlands and, at particularly exciting, reinstating the former course ofthe river.
In addition lo work on the ground, we have been working with partners lo increase farm-to-farm
collaboration. In the Spring. we established the Upper Teme Farm Cluster Group. bringing together
landowners farming on the main stem of the river and have tsken deliberate steps to work more closely with
neighbouring groups in the Onny & Clun catchment.
Finally, on a more strategic level, the Teme Headwaters Working Group has been established. This group
brlngs together active environmental bodies, alongside local landowner representation, to encourage
Collaboration and the pursuit of largescale funding.
Headline achievements
Delivery of 20+ nalure-based solution projects on farms in the calchrnent
Reconnection of large paeleochannel on the River Onny
Fomation of the Upper Teme Farm Cluster Group
Fomiation of the Teme Headwaters Working Group
Nexl steps
The priority for the next year, will be working in collaboration with the Teme Headwaters Working Group to
secure new sources of long-term funding that will initiate progress towards the groups recently established
vision for the region.
Figure 2.. Bèlgrg (left) and aftgr fright) ofpaleochannol raconneclion works on the RNer Onny.

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Case Study 3: Rea Demonstrator
Funding source
The Severn Valley Water Management Scheme (project board members include Environment Agency,
Natural Resources Wales. Shropshire Council and Powys County Council.
Project objectives
Inslallalion of a range of ambitious nature-based soluliDns for natural flood management in the Rea Brook
catchment
150 leaky dams ins1811ed
5 of Cross-sloping. riparian woodlands planted
35 hectares of mulli-beneficial wetland Creation
4 hectares of floodplain connection wotl(
Progress to date
The Reabrook flows into tha S8V8rn in Shrewsbury, Shropshirè. flowing northeast from Marton Pool. Th8
wider Rea catchment also contains the key Iribularies of the Minsterley Brook, WorthenlBracklon Brook,
Habberley Brook and the Weslbury Brook. of which much of our work is focused. Several communities
have suffered with flooding issues in the catchment. including the villages of Minslerley and Pontesbury,
and the Realsevern confluence also contributes lo flooding in Shrewsbury itself.
For these reasons, the Rea catchment was identified as a key area in which to focus one of the Severn
Valley Water Management Schemes eight'Demonstrator projects, of which Severn Rivers Trust host two.
the Rea and Guilsfield Demonslralor projects. The Sevem Valley Water Management is a multi-agency
project aimed and using a variety of solutions to manage water in the Sevem catchment, including nature
based solutions for water storage.
This ambitlOU5 3-year flood management programme began in January 2024. with a range of projeols, in
line with the key outputs already delivered. , This includes installation of leaky dams in headwater lribularies,
planned riparian woodland sites for planting this winter season, and creation of new multi-beneficial wetland
habilal.
Next steps
Our next steps arè to primarily continue lo build on our early success so far and deliver our suite of already
planned projects when limings allow, induding an ambitious floodplain connection scheme in the heart of
the catchment, and further gamer landowner relationship5 and continually develop a new pipeline of
projects that hèlp meet our outputs.

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
We are also aiming to continually scale and increase the ambition of our projects, to 'demonstrale' the
benefit of larger Scale natural flood managem8nt schemes for water storage and natural capital, bul also
further undersland the needs for blended funding lo make larger projects happen, by incenlivising
landowners with legacy payments, through 8ith8r private finance. or top tier Countryside Stewardship
options as an example.
Figure 3.. Wetland Crgalion work (Igft) and a recently Anslalled leaky dam fright) ￿p￿sent just two of a package orth8
NFM inteNenlion types Ihat we aTr delivering in the Rea catchment.
Severn Rivers Ecology
The Severn Rivers Trust is the sole shareholder of the not-for-profit subsidiary, Severn Rivers Ecology
Limited ISRE), company number 10081868. The principal activity of SRE is to provide ecological
consultancy services, that generate an unrestricted source of incom8 that can be invested in our charitable
objectives. SRE was incorporated in March 2016 and a profit-shedding agreement exists beiween the two
companies.
The past year has seen a continued growth in our commercial based work. Wider commercial work
undertaken during this period included Biodiversity Net Gain appraisals. fam water audits, ecological
monitoring services, notably eleGtro-fishing surveys. and running corporate away days for businesses
operating within the catchment.
Also during this period, further progress has been made to enrol landowners into the Trust's Biodivetsity+
scheme, a BNG facilitstion se￿iCe that brings together sellers and buyers of biodiversity offsets.
SRE'S total turnover amounted to £1,038,837 (2023-£418,874} with an operating loss of£Nil12023'. £198}.

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Financial Review
Severn Rivers TTUSt works across three delivery teams to rneet its strategic direction. The breakdown for income
type and expenditure are shown below. In 202312024, the total income for the Trust was £1,556,657 of which,
£158,271 110 % ) was unreslricled income and £1,398.386 1900/0} was restricted to specific projects. This
compares to £1,878.672 total income for the previous year 121 /0 unrestricted income and 7910 reslricled
income).
Going concern
After making appropriate enquirri8S, the Trusle8s have a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason. they continue to adopt
the going conGern basis in preparing the financial statements.
Roserves policy
The charity is committed lo using its reserves in pursuit of its charitable objective. The charitys policy on reserves
is for them to be sufficient lo meet the anlicipaled needs of the trust as prudently estimated by the Iruslees. Th8
objective of the Trust is lo have a working reserve suitable to manage the risks of the Trust.
The attached financial 5tstemenls show the total reserves at 31 July 2024 were £1,061.776 (2023.. £946,256).
Thank you
We are grateful for the financial support received by the Trust and would particularly like to acknowledge the
following individuals and arganisalion5 that have supported our work over the past year.
Dr Anne Wheeler
Mr Andrew Jones
Mr Chris Jenkins
Mr Finn Oliver
Mr Simon Rhodes
Mr Steven Westerman
Mrs Emma King
Ms Ashley Phelps
Ms Kaia Bellamy
Ms Kathryn Ogden
Ms Nicola Jones
Ms Kate Ashley
Mr Robert Fox
Ms Tasmin Oliver
Terne Valley Wildlife Group
Bimiingham University
Department for Environment, Food and Rural Affairs
Environmènt Agency
Natural Resources Wales
Garfield Weston Foundation
Sevem Trent Water
Herefordshire County Council
Powys County Council
Shropshire County Council
Worcestershire County Council
Welsh Govemmenl
And a huge thank you lo the many anonymous contributors who are not named in this list.

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Governance and support
Constitution
The company is registered as a charTtable company limited by guarantee and was established and
constiluted by a Memorandum of Association on 9 July 2008.
The Gharily is controlled by its governing document, a deed of trust. and wnstitutes a limited company,
limited by guarantee, as defined by the Companies Act 2006.
Method of appointment or election of Trustees
The Board of Trustèes is made up of eight members al 31st July 2024. The make-up of the Board includes
experts in finance, accounting, risk management, health & safety secondary & tertiary education and
research.
The board regularly review5 the experience profile of its members and whère necessary defines any
additional skills required. Board members use their own network of contacts to identify suitable candidates
possessing the necessary knowledge and skills lo act as trustees of the charity. The board appoints all new
trustees after an ini1181 meeting with the Chair and CEO, followed by a guest invitation to the next Board
meeting.
Policies adopted for the induction and training of Trustees
New Trustees are given an induction briefing pack detailing the role and responsibilities. Safeguarding
training is mandatory for all trustees. Additional training requirements ar8 monitored by the Chair and CEO.
A Code of Conduct is in place for tha Board of Trustees.
Pay policy for senior staff
The Senior Management Team benchmark staff rernuneration and terms and conditions of employment
annually, with proposed recommendations for consideration by the Board of Trustees.
Organisational structure and decision making
The Chief Exe¢utlve is responsible for the day lo day running of the Trust and reports to the Board, which
is constituted of the Tru51ees. The Trustees meet four times a year 31 regular intervals lo review finance,
risk and organisational development. In be￿een these meetings the Chief Executive consults with the Chair
on material issues as they arise.
The Board includes two sub-committees established to support the Board in their responsibilities and
decision making in respect to finance & risk (Finance & Risk Committee) and a trustee recruitment
(Nominations Committee.)
Finance & risk management
The Trustees are responsible for the management and control of the Severn Rivèrs Trust and subsidiary
ompany, Severn Rivers Ecology, including the overall control of risk management, particularly setting the
parameters of the process and reviewing and considering the resulls.
Our risk idenlificalion process is set and rnanaged by the Finance & Risk Committee. All areas of risk are
covered by our prO￿ss, including financial, govemance, operational and reputational.
io

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2024
An annual audit on the controls lakes plac8. Day lo day management and coordination of the process is
delegated to the Chief Executive who reports lo the Board of Truslees about the on-going effectiveness of the
risk management and control processes together with all issues encountered and any recommendations for
improvement.
The Trustees review individual risks on a regular basis regarding their significance and the potential impact on
the company against the likelihood of occurrence. Current risks include-
Staff retention and recruitment challenges seclor-wide staff turnover and recruitment challenges continue
to be a substantial risk to eNGOs. The major risks posed to SRT include interrupted delivery, affecting delivery
mi18slones, and postponing project start-up. Deliberate steps have been taken to mitigale this risk over the past
12 months including- succession planning through the adoption of a trainee programme. regular remuneration
review and the adoption of a competency matrix to identify skills gaps and encourage investment in staff CPD.
Reducing dependence on grant funding sources
the Management Team have wide ranging skills in
charitable trust fundraising, including slatulory agencies, lotteries. European and charitable Irusls, and have
over the years been highly successful. In a bid to reduce this over dependency, the Trust is investing in
developing charitable giving platforms and commercial-based services, which align with the charitable
objectives.
Lack of budget control procedures
The CEO and Head of Finance. alongside the Finance & Risk
Committee, link business planning lo budgets and projects. The use of Xero ensures that the financial
management of the Trust is robust and controlled.
Additionally, a Scheme of Delegation has been adopted by the Board. which cleady details what authority the
Board has delegated to committees and slaff under the powers set OLJt in Clause 50 of the Articles ofAssociation.
This provides.a robust and auditable means of managing financial delegation.
Inflation Inflation pressure5 have reduced during the past 12 rnonths. but the impacl of subslanlial increases
in recent years continue lo leave their mark, especially so on multiyear projects. Mitigating measures include
negotiation with funders to reduce deliverables or increase funding allocations proportionately and ensuring that
project budgets integrate inflation forecasts accurately during their development.
Failure to meet Health & Safety standards and regulatlons - The Trust appoints a Safely Director IBoardl
and Safely Manager (Staffl to implement a robust. annually reviewed Health & Safety Policy. An annual review
with an independent frorn within the water industry ensures our approach is suitable. All staff undergo Health &
Safety training.
Lack of site safeguardlng - The Trust works with children and vulnerable adults across all aspects of ils work
from schools lo fanllers. To ensure safeguarding for customers and staff. a robust. annually reviewed policy is
in place. A Designated Safeguarding Officer is appointed on the Management Team and a lead trustee is
appointed on the Board. All staff receive suitable training, and a clear recruitment procedure is in place lo ensure
adherence to the policy.
Global Pandemics
The effects of the Coronavirus pandernic have continued to wane during 2023 and
business as usual has returned to all of our operations at SRT. The situation will remain under close review.

SEVERN RIVERS TRUST
(A company limited by guarantee)
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Statement of Irustees, respon5ibilitie5
The Trustees (who are also director5 of Severn River5 Trust for the purposes of company law) are responsible
for preparing ihe Tnjstees. report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law require5 the Trustees to prepare financial statements for each financial year which give a true
and fair view of the stale of affairs ofthe group and the company and of the incoming resources and applicatlon
of resources, including income and expenditure for that year. In preparing these financial statements. the
Trustees are required lo focus on:
selecting suitable accounting policies and then apply them consistently
obseTving the methods and principles in the Charities SORP
making judgments and accounting estimates that are reasonable and prudent
preparing the financial statsmenls on the going concem basis unless it is inappropriate to presume that
the charitable company will continue in operation.
The Trustees are re5pon5ible for keeping adéquate accounting records that are sufficient to show and explain
the charitable company's transactions and disclos8 Wlth reasonable accuracy at any time the financial position
of the charitable company 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 charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of inforniation to auditors
Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that=
so far as that Trustee is awar8, there is no relevant audit information of which the charitable company's
auditors are unaware, and
that Trustee has taken all the steps thal ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the ¢haritable company's auditors are aware of that
information.
This report was approved by the Trustees, on
12.l2. g4
and signed on their behalf by:
Mr A S Harvey, Chair of Trustees
i?

SEVERN RIVERS TRUST
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SEVERN RIVERS TRUST
Opinion
We have audited the financial statements of Severn Rivers Trust (the 'parenl charitable company'l and its
subsidiary Ilhe'group'l for the year ended 31 July 2024 which comprise the Consolidated Statement of Financial
Activities, the Consolidated Balance Sheet, the Company Balance Sheet. the Consolidated Statement of Cash
Flows and the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards. including Financial Reporting Standard 102 'Tha Financffal Reporting Slandard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial slatemenls..
give a true and fair view of Ihe stale of the group and the parent charitable company's affairs as al 31
July 2024 and of its incoming resources and application of resources, including its income and
expenditure for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice-, and
have been prepared in accordance with the requirements of the Companies Act 2Q06 and the Charities
Act2011.
Basis for opinion
We conducted our audit in accordance with Inlemational Standards on Auditing IUKI IISAS {UK)) and applicable
law. Our responsibilities under those stsndards are further described in trie Audilorfs responsibilities for the audit of
the financial statements section of our report. We are indèpendent of the group and parent charitable company in
accordance with the ethical requirements that are relevant to our audit ofthe financial statements in the UK, including
the FRC'S Ethical Standard, and we hav8 fulfilled our olher ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis
for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that tre trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, May cast significant doubt on the charity's ability lo continue as a going
con￿rn for a period of at least ￿e1ve months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the trustees wilh respect to going concem are described in the
relevant sections of this report.
Other Information
The other information comprises the information included in the annual report other than the financial slatemenls
and our auditor's report Ihereon. The Irustees are responsible for the other inforrnalion contained within the annual
report. Our opinion on the financial statements does not cover tre other infomiation and we do not express any
fomi of assurance conclusion Ihereon, Our responsibility is lo read the other information and, in doing so, consider
whether the other infomation is materially inconsistent with the financial statements or our knowledge obtsined in
the course of the audit, or oth8rwise appears to be materially misstated. If we identify such material inconsislències
or apparent material misstatements, we are required to determine whetherthis gives rTse to a material misstatement
in the financial statements themselves. If, based on the work we have perfomed. we conclude that there is a
material misslatemenl of this other infomation. we are required to report that fact.
We have nothing to rèport in this regard.
13

SEVERN RIVERS TRUST
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SEVERN RIVERS TRUST
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities {Accounls and
Reports) Regulations 2008 require US to report to you if, in our opinion..
Ihe infornialion given in the financial statements is inconsistent in any material respeGI with the trustees.
report". or
sufficient accaunting records have not been kept- or
the parent charitable company's financial slalements are not in agreement with the accounting records:
or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more lully in the statement of trustees, responsibilities, the Iruslees, who are also the directors of the
charity for thé purpose of company law, are responsible for the preparation of the financial statements and for
being satisfied Ihat they give a true and fair view. and for such inlemal control as the trustees determine is
necessary to enable the preparation of financial statements that are free from material misstatement. whether due
to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's
ability to continue as a goin9 concern, disclo&ing, as applicable. matters related to going concern ané using the
going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease
operations. or have no realistic allemative but to do so.
Auditorfs responsibilities for the audlt of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Acl and relevant regulations made or having effect Ihereund8r.
Our objective5 are lo obtain reasonable assurance about whether the financial stalernenls as a whole are free
from material misslaternent, whetherdue to fraud or error. and lo issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS {UK) will a￿ayS delect a material misstalemenl when it exists. Misstalemenls can arise from fraud or
error and are considered material if. individually or in the aggregate. they could reasonably be expected lo influen
th8 economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instanc85 of non-compliance with laws and regulations. We design procedures
in line with our responsibilities. outlined above, to delect rnaterial misstatements in respect of irTegularities,
including fraud. The exlent to which our procedures ar8 capable of detecting irregularities, including fraud, is
detailed below.
Bas8d on our understanding of the company, we identif18d the principal risks of non-compliance with laws and
regulations including those that have a direct impact on the preparation of the financial statements such as the
Companies Act 2006, and the extent to which non-compliance might have a material effect on the financial
statements. Audit Pro￿dureS performed included discussions with management. review of board meeting
minutes, testing of journals. designing and performing audit proGedures and challenging assumptions and
judgements made by managernent in relation to accounting estimates.
There arè inherent limitations in the audit procedures described above. We are less likely to become awaré of
instanGes of non-compliance with laws and regulations that are not closely related to events and transactions
reflected in the financial statements. Also. the risk of not detecting a material misstatement due to fraud is higher
than the risk of not detecting one resulting from error, as fraud may involve deliberate concealmenl by. for
examp18. forgery or int&nlional mi5representalions. or through collusion.
A further description of our responsibilities for the audit of the financial stalements is located on the Financial
Reporting Council's website at= htt .-Ilwww.frc.or
.uklauditorsres
onslbililies. This description forms part of our
auditor's report.
14-

SEVERN RIVERS TRUST
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SEVERN RIVERS TRUST
Use of our report
This report is made solely to the charity's tsustees, as a body, in accordance with part 4 of the Chartties (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken $0 that we might slate to the charity's trustees
those rnatters we are required to stale to them in an auditor5, report and for no other purpose. To the fullest èxtent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the chaTity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Colm McGrory FCA (Senior Statutory Auditor)
for and on behalf of Ormerod Rutter Limited
1.7./111.2Q2.t
Chartered Ac¢ountsnts
Statutory Auditor
Ormerod Rutler Limited
Chartered Accountsnls
The Oakley
Kiddemiinster Road
Droitwich
Worcestershire
WR9 9AY

SEVERN RIVERS TRUST
{A company limited by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 JUL Y 2024
Note
Unr8stri¢ted Restricted
funds
funds
2024
2024
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
Total
2023
Income from..
Donations & grants
Other trading
activities
13.555
1.038,837
1,398,386 1,411,941
1,038.837
400.892
418.874
1,477,780 1,878,672
418,874
Total income
1,052,392
1.398.386 2,450,778
819,766
1,477.780 2,297,546
enditure on:
Raising funds
Charitable activities
Corporation lax
894.121
143,804
894,121
1,297,333 1,441,137
419.339
49.961
268
419,339
1,416,423 1,466.384
268
Total expenditure
1,037.925
1,297,333 2,335,258
469.032
1,416,423 1,885,455
Net movement in
funds before
transfer of funds
14.467
101,053
115.520
350.734
61,357
412,091
Transfer of funds
(10.2521
10,252
Net movement in
funds after
transfer of funds
4,215
111.305
115,520
Reconciliation of
funds:
Total funds brought
fotward
555,573
390,683
946.256
204,839
329.326
534.165
Total funds
carried forward
559,788
501,988 1,061,776
555,573
39Q.683
946,256
The Consolidated Statement of Financial Activities includes all gains and losses re¢ognised in the year. All income and
expenditure derive from continuing aclivities.
The Statement of Financial Activities also complies with the requirements for an income and expendtture aGGount under
the Companies Act 2006.
16

SEVERN RIVERS TRUST
(A company limited by guarantee)
CONSOLIDATED BALANCE SHEET
ASA T31 JULY2024
2024
2023
Notes
Flxed assets
Tangible assets
3,825
3.825
Current assets
Debtors
Cash at bank and in hand
13
234.653
1,780,505
2,015,158
346,113
1,372.020
1,718,133
Creditors: amounts falling due within one
year
14
953,382
775,702
Nel current assets
1.061.776
942,431
Total assets less current liabilities
1,061.776
946,256
Total net assets
1,061.776
946,256
Charity funds
Restricted funds
Unrestricted funds
16
16
501.988
559,788
390,683
555.573
Total funds
1,061,776
946.256
The company was entitled to exemption from audit under section 477 oflhe Companies Act 2006. The members
have not required the entity to obtain an audit for the year in question in accordance with section 476 of the
Companies Act 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo
accounting records and preparation Df financial statements. The financial statements have been prepared in
accordance with th8 provisions applicable lo entities subject lo the small companies regime.
The financial statements were approved by Ihe Trustees on
Ii.11.Z+
.and signed on their behalf by:
MrASHa
ey
Chair of Trustees
Company Registration No. 06642409

SEVERN RIVERS TRUST
(A company limited by guarantee)
COMPANY BALANCE SHEET
ASAT31 JULY2024
2024
2023
Notes
Fixed assets
Tangible asset5
Investments
11
12
3.825
3,826
Current assets
Debtors
Cash at bank and in hand
13
366,071
732.133
1,098,204
206,615
860.506
1.067,121
Creditor5: amounts falling due within one
year
14
37.118
125,381
Net current assets
1.061.086
941.740
Total assets less current liabilities
1.061.087
945.566
Total assets
1,061,087
945,566
Charity funds
Restricted funds
Unrestricted funds
501.988
559,099
390,683
554,883
Total funds
1.061.087
945.566
The companywas 8ntitied to exemption from audit under section 477 ofthe Companies Act 2006. The members
have not required the entity lo obtain an audit for the year in question in accordance with section 476 of the
Companies Act 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011 .
The Trustees acknowledge their responsibilities for complying with the requirements of Ihe Act with respect to
accounting records and preparation of financial Statements. The financial slatefflen15 have been prepared in
accordance with the provisions applicable to entities subject to Ihe small companies regime.
As permitted by s408 Companies Act 2006. the company has not presented ils own statement of financial
activities and related notes. The charity'5 surplus for the year was £115,52012023 - £412,288).
The financial statements were approved by the Trustees on
12 12.2&
.and signed on their behalf by:
MrAS
arvey
Chair of Trustees
Company Reglstrdtion No. 06642409
18

SEVERN RIVERS TRUST
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JUL Y 2024
Notes
2024
2023
Cash f lows from operating activities
Cash generated from operations
Net eash flow from operating activities
21
408.485
408.485
137,099
745,471
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Hire purchase
Répayment of loan
{1.368}
Net cash used In financing activities
1.368
Change in cash and oash
equivalents
408,485
135.731
Cash and cash equivalents at
beginning of the year
1,372.020
1,236.289
Cash and cash equivalents at end of
the year
1,780,505
1,372,020
The notes on pages 21 to 37 form part of these financial statements.
19

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JUL Y 2024
Accounting policies
Charty information
Severn Rivers Trust is a private company limited by guarantee incorporated in England and Wales. The
registered office 15 1 Hope House Farm Bams. Hope House Lane, Martley, Worcestershire, WR6 6aF.
1.1 AGcountlng conventlon
The financial statements have been prepared in accordance with the charity's memorandum and artlGles of
association, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of
Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). leffeclive 1 January 2019). The
charity is a Public Benefit Entity as defined by FRS 102.
The ffnancial statements consolidate the results of the charity and ils whollyThowned subsidiary Sevem Rivers
Ecology Limited on a ling by line basis. TTansaclions and balances be￿een the charity and its subsidiary
have been eliminated from the consolidated financial statements.
The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary
amounts in these financial Statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal
accounting policies adopted are set out below.
1.2 Golng concern
At the time ofapproving the financial statements. the trustees have a reasonable expectation that the charTty
has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees
continue to adopt the going concem basis of accounting in preparing the financia5 statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Reslricted funds a￿ subject to specific conditions by donors as to how they may be used. The purposes
and us65 of the restricted funds are set out in the notes to the financial statements.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to il after any performance Gonditions have been
met, the amounts can be measured reliably, and il is probable that income will be received. The only
exception to this is grants received for phases of projects which have yet lo commence,. in these cases the
Trustees have agreed the amounts will be recognised in the year which it is spent. They are aware that this
is a departure frorn the Charities SORP FRS102. but consider its recognition in the year of rèceipt would be
misleading that it would conflict the requirement to give a true and fair view. The incomè ha5 therefore been
deferred as shown in note 14.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the tsme
of the donation.

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Accounting policies {continued)
1.4 Incoming resources {continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending
distribution, the amount is known, and receipt 15 expected. If the amount 15 not known, the legacy is
treated as a contingent asset.
Grants are included in the consolidated statement of financial activities on a receivable basis. The balance
of income received for specific purpose5 but not expected during the period is shown in the relevant funds
on the balance sheet. Where income is received in advance of entitlement of receipt. ils recognilion is
deferred and included in creditors as defe￿ed income. Where entitlement occurs before income is
received. the income is accrued.
Other income is recognised in the period which it is receivable and to the extent the goods have been
provided lor or on completion of the service.
Project income grants are recognised when there is entillemenl and are not deferred over the project
term. Unspent amounts of project grants are reflected in the balance within the reslricled fund.
1.5 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity lo that expenditure, 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
accounted for on an accruals basis and has been classified under headings that aggregate all costs
related to the category. Where costs cannot be directly allributed to particular headings, they have been
allocated to activities on a basis consistent with the use of resources.
Costs of raising funds are those costs incurred in generating voluntary income, and those costs incurred
in trading activities that raise ftjnds.
Expenditure on charitabl8 activities includes ¢05ts incurred on operations in line with charitable aims and
objectives and their associated support and governance costs.
Support costs are those costs incurred directly in support of expenditure on the objects of the company
and include project management.
Govemance costs are those costs associated with meeting the constitutional and statutory requirements
and include any costs associated with the strategic management of the Gharity.
1.6 Tangible fixed assets
Tangible fixed assets costing £1,500 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the assel can be measured reliably.
Tangible fixed assets are initially measured at cost and subsequent]y measured at cost or valuation, nel of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the c051 or valuation of assets les5 their residual values over
their useful lives on the following b8ses'.
Plant and machinery
Motor vehicle5
Cornputer equipment
straight line over 10 years
Straight line over 4 years
straight line over 3 years
21

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Accounting policies (continued)
The gain or loss arising on the disposal of an asset is determined as the difference beiween the sale proceeds
and the carying value of the asset and is recognised in net incomel(expendilure} for the year.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently rneasured at fair value at each reporting date. Change5 in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity Gontrolled by the charity. Control is the power lo govern the financial and
operating policies of the entity so as lo obtain benefits from its activities. Investments in subsidiaries are
at cost less provision for impairrnent.
1.8 Impalrment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets lo determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists. the recoverable amount of the asset is estimated in order lo determine the extent of the impairment
loss lif any}.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities.
1.10 Financial Instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic
financial instrum8nls. Basic financial instruments are initially recognised at transaction value and
subsequently measurad al their settlement value.
1.11 Taxatlon
The charity is exempt from Corporation Tax on its ¢harilable activities.
1.12 Retlrement beneflts
The charitable company operated a defined contribution pension scheme. Contributions payable to the
charitable company's pension s¢herne are charged to the Statement of Financial Activities in the period lo
which thèy relate.
1.13 Liabilities and provislons
Liabilities are recognised when there is an obligation at the balance Sheet date as a resutt of a past event,
it is probable Ihat 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 il has received as advanced payment5 for the goods or services It
musl provide. Provisions are rneasured at the best estimate of the consideration required to settle the
obligation. Where the effect of the lime 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 lo the liability.
The unwnding of the discount rate is recognised as a finance cost in net in¢omel(expenditurel.
1.14 Operatlng leases
Rentals under operating leases, including any lease incentives, are charged lo the Statement of Financial
Activities on a straight line basis over the term of the leas8.
22-

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Critical accountlng estimates and Judgements
In the application of the charity's accounting policies, the trustees are required to make judgements,
e51imates and assumptions about the carying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and
other factors that are considered lo be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo a(￿untIng
estimates are recognised in the period in which the estirnale is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.
Donations and grants
Unrestri¢ted Restricted
funds
funds
2024
2024
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
Total
2023
Donations
Grants
4,100
9,455
13,555
4,100
1,407.841
1,411.941
6.825
394,067
400,892
6.825
1.477.780 1,871.847
1.477,780 1,878,672
1,398.386
1.398.386
Other tradlng actlvltles ~ non ¢harltable income
Unrestricted Restricted
funds
funds
2024
2024
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
Total
2023
Consultancy
Grants
Other income
518,170
10.602
512,065
516,170
10,602
512,065
418,874
418,874
1.038.837
1.038,837
418.874
418,874
Other income relates to surveys, carbon offselling, biodiversity net gain and educational activities.

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Raising funds
Unrestricted
2024
Unrestricted
2023
Project costs
Rent and rates
Motor and travel éxpenses
Bank charges
Printing and stationery
Governance costs
Sundry expenses
Staff training
Depreciation of tangible fixed assets
875.390
6,929
402.509
8.068
185
85
281
6,898
3,300
1,238
489
6.780
423
522
279
419.339
894,121
Charitable activities
2024
2023
Staff costs
Depreciation and impalrmènt
Project, travel and subsistence
Project work
Other project costs
642,924
3,825
69,670
617,308
18,407
1,352,134
521.517
5.649
55,860
782.232
15.524
1.380.782
Share of support costs (see note 71
Share of governancè costs (see note 7)
81,566
7,437
1,441.137
72,521
13,081
1.466,384
Analysis by fund
Unrestricted funds
Restricted funds
143.804
1.297.333
1,441,137
49,961
1,416,423
1.466.384
-24-

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 JUL Y 2024
7 Support costs
Support Govemance
costs
costs
Total
2024
Support Governance
costs
costs
Total
2023
Travel and subsistence
Marketing costs
Other support costs
Gainlloss on foreign
exchange
Govemance costs
10.052
1,453
70,000
10,052
1,453
70,000
9,893
7,808
54,474
9,893
7,808
54,474
61
61
7.437
89,003
346
346
13,081 13,081
13.081 85.602
7,437
7,437
81,566
72.521
Analysed between..
Charitable activities
81,566
7,437
89,003
72,521
13,081 85,602
Governance costs includes payrnenls lo the auditors of £6.36412023 £6,026), legal fees £60012023
£nill, Iruslees expenses £36612023 - £nill and sundry Gosts of £10712023 - £551.
Trustees remuneration and expenses
During the year, no trustees received any remuneration or other benefits12023 - £nil).
During the year. expenses amounting to £366 were reimbursed or paid directly in relation to èxpenses
incurred supporting the charitable activities of the Trust12023 - £ni51.
25

SEVERN RIVERS TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2024
9 Staff costs
Number of employees
The average monthly number of employees during the year for the group was as follows=
Group
2024
Number
Group
2023
Number
Management
Field Operatives
24
29
21
26
Employment costs
Group
2024
Group
2023
Company
2024
Company
2023
Wages and salaries
Social security costs
other pension costs
707,577
64.942
56.860
829,379
559.148
46.093
40,788
646.029
521.122
64,942
56.860
642,924
434,636
46,093
40.788
521,517
The key management personnel ofthegroup are represented by the roleswithin managementand finance.
The lolal employee benefits (including employer pension contributions) received by key management
personnel was £201,986 {2023- £213,593}.
The number of employees whose annual remuneration was more than £60.000 is as follows:
2024
Number
2023
Number
10 Net incomel(expenditure)
This is slated after charging:
2024
2023
Depreciation
Auditors. remuneration - audit
Auditors, remuneration - other seNices
Operating lease rentals
3.825
8,255
1,737
1.004
5,928
7.856
1.665
8.410

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
11 Tangible fixed assets
Group
Plant and
Machinery
Computer
Equipment
Motor
Vehicles
Total
Cost
AI 1 ALJgust 2023
Additions
Disposals
At 31 July 2024
15,062
15,345
35,592
65,999
15.062
15,345
35.592
65.999
Depreciation and
impalrment
Al 1 August 2023
Depreciation charged in the
year
Eliminated in respect of
disposals
Al 31 July 2024
15,062
14,894
451
32.218
3.374
62.174
3.825
15.062
14,508
35,592
65,162
Carrying amount
Al 31 July 2024
Al 31 July 2023
451
3,374
3.825
Company
Plant and
Machinery
Computer
Equipment
Motor
Vehicles
Total
Cost
At 1 August 2023
Disposals
At31 July 2024
15,062
14,508
35,592
65,162
15,062
14,508
35.592
65,162
Depreciation and
impairment
Al 1 August 2023
Depreciation charged in the
year
Elimination on disposal
15.062
14.057
451
32,218
3,374
61,337
3,825
Al 31 July 2024
15,062
14.508
35.592
65.162
Carrying amount
Al 31 July 2024
At 31 July 2023
451
3,374
3,825

SEVERN RIVERS TRUST
(A company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
12 Fixed asset investments
Company
Investment
in
subsidiary
company
Cost or valuation
Al 1 August 2023 & 31 July 2024
Carying amounl
Al 31 July 2024
Al 31 July 2023
13 Dobtors
Group
2024
Company
2024
Amounts falling due within one year:
2023
2023
Trade debtors
Amounts due lo group undertakings
Prepayments and accrued income
192,518
220,534
158.887
165.049
42.135
366,071
88,023
2.730
115,862
206,615
42,135
234,653
125,579
346.113
28-

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
14 Creditors: amounts falllng due within one year
Group
2024
Company
2024
2023
2023
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
25,891
6,898
1,369
919,224
953,382
22,802
60,332
1,960
690,608
775,702
15,124
1.004
1.369
19.621
37,118
13,485
5.755
1,960
104.181
125.381
Group
2024
Company
2024
2023
2023
Deferred income
Deferred income at 1 August 2023
Resources deferred during the year
Amounts released from previous
periods
581.175
423,806
1581.1751
881,003
581,175
1881,003}
75,648
687,344
75.648
1687,3441
{75,648}
423,806
581,175
75,648
Deferred income relates lo incorne received in advance.
15 Finance lease obligations
Future minimum lease payrnenls due under finance leases=
2024
2023
Within one year
?9-

SEVERN RIVERS TRUST
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
16 Statement of funds
The income funds of the group include restricled and unrestricted funds comprising the following unexpended
balances held=
Statement offunds - current year
Movement in funds
Resources
expended
Balance at
1 August
2023
Incoming
resources
Transfers
Balance at
31 July
2024
Unrestricted funds
General overhead fund
Fishing passports
Grants
Severn Rivers Ecology
111,890
4,100
(53.714)
206,992
442.994
689
555.573
9,455
1,038,837
1,052,392
(90,090}
894,121
1,037,925
110,252)
352.107
689
559,788
10.252
30-

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
16 Statement offunds {continued)
Movement in funds
Resources
expended
Balance at
1 August
2023
Incoming
resources
Transfers
Balan¢8 at
31 July
2024
Restricted funds
Cain SMS
Nant SMS
CaBA- All projects
Knighlon NFM-LM-TE
Leam
Shipslon
STEPS Cound Brook
Teme
Alne
BCBN
Ryeford Nrtill
Springs of Rivers
Warwick Eel Traps
Suslainablts Farming
Resilient River Teme
Woodland for Waier
Guilsfield Demonslralor
CaSTCo
Stour
Enriching Landscapes
Salmon PHD
Reaction 4
SevemSkillsGap
Resilient River Banwy
Kyre Brook
Mizuiku
Rea Demonstrator
Ll8nfyllin NFM
Sevem Valley Reaction
Smeslow Brook
Black Country River Schools
Teme Nature Solulions
Illey Brook
Ernst Cook Trust
Upper Teme
Fromebridge
Elms Farm
Temeing with Life
Teme Big Fish
BCBN-RR-WMS closed
Sustainable Farming
RB9 Fish easement
Reaelion Upper
Other
Springs of Rivers
Leadon
{2,8781
11,3311
71,530
28,789
13,422
18D,000
100.000
50.000
117,4201
111,1371
1124,7981
194.5641
148.7611
134,0481
122,5401
166,6981
8,491
954
126,732
5.438
31,191
735
27.159
30.914
10.476
29.952
34,783
11,325
12,612
10,476
19,8791
56.038
5,002
58,386
3,024
38,374
85.000
9,879
120,4261
35,612
15,0021
14,2831
S4,103
{3,0241
14.821
55,248
69,425
61,200
8,000
15,000
19991
127.8461
189.444}
147.5661
17,381)
123.876)
(6.5871
13.822
32.926
80
30.085
1.432
960
14,074
5.524
20,099
16,451
813
9,836
20.661
303
35,804
2,139
252
12411
13031
50,000
135,620
59,036
183.2181
1139,9881
139,9101
241
166,3091
150,5601
129,9601
119.3301
166,5651
143.6161
112,0711
2,586
12.2291
19.378
71.464
5D.000
30,000
20.000
109.750
45,000
5.155
15601
40
670
43.185
1,384
112,071)
20,000
14041
1261
11211
11401
1431
20,000
14041
{261
11211
11401
1431
139,7281
16,8051
134.8471
{3031
357
15.0021
{10,6111
49,608
3,782
34.847
19,8801
3.023
303
13571
5.002
10,611
390.683
1,398,386
1,297,333
10,252
501,988
Total funds
946.256
2,450,778
2,335,258
1,061,776

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
16 Statement of funds (continued)
statement of funds - prior year
Movement in funds
Resources
expended
Balance at
1 August
2022
Incoming
resour¢es
Transters
Balance at
31 July
2023
Unrestricted funds
General overhead fund
Fishing passports
Grants
Severn Rivers Ecology
2,574
12,479
3,704
{3,7041
111,890
93,133
3,704
107,117
204,839
398,318
418.874
819.766
162,441)
419.D70
469.032
442,994
689
555,573

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
16 Statement of funds (continued)
Movement in funds
Resources
expended
Balance at
1 August
2022
Incoming
resources
Transfer5
Balance at
31 July
2023
Restricted funds
Unlocking the Severn
Cain SMS
Nant SMS
CaBA - All projects
Guilsfield Brook
Knighlon
Leam
Shipslon
STEPS Cound Brook
Teme
Wise
ACNRW
Alne
8C8N
EMFF
Kings of the River
Ryeford Mill
Springs of Rivers
WaTrvick Eel Traps
Weg Frome
Worfe
Resilient River Teme
Sustainable Farming
Illey Brook
Woodland for Water
Carter Weir
Mill Road
Guilsfield Demonstrator
Reabrook
CaSTCo
stour
Enriching Landscapes
Salmon PHD
Reaction 4
SevemSkillsGap
Resilient River Banwy
Kyre Brook
Mizuiku
47,853
1.910
{9.188)
22,265
10,844
11.648
34.804
56,916
12.317
11,467
15,082
131,278
182,825
120,108
{62,9351
(136,0661
(174,9681
170.841}
110,844)
130.398)
144.852)
122.1331
132.5231
(48.8551
11371
(3.3481
12.8781
11.3311
71,532
18,750
40.000
29.952
34,783
11,325
12,612
31,531
50,000
138
111.0391
14.387
10,476
45,138
(10,1621
8,222
59.411
5,002
1718)
(2.743)
9,600
127.8591
10,128
{3.669)
{1,0211
55.089
127.759)
(16.135}
1,104
10.476
{9,879}
96,537
15,816
18,030
250
1151,5541
15.6541
126.252)
13.623}
56.038
5.002
58,386
70,000
21,927
110,8961
119,1841
(9,6001
1109,3711
{19,931}
122.998)
125,289)
195,8481
1.461
197.9291
{1,1041
{44,255}
{24,187)
15.164)
137,230
12,827
26.667
31.834
40,759
26,298
134,163
3.024
5,524
20,099
60,706
25,000
15,000
20,661
39,535
50,000
47,867
8.000
16.451
813
9,836
20.661
303
35,804
2,139
252
241
390.683
139,2321
114.1961
(45.7281
17,7481
241
1.416,423
329,326
1,477,780
Total funds
534,165
2,297,546
1,885,455
946.256
33

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
16 Statement of funds {continued)
Unrestricted Funds
Include grants from central and l¢xal govemment agencies. water supply companies and charities with interests
in the environment within the UK.
The balanGes from Sevem Rivers Ecology Limited (trading subsidiary) are also included within unrestricted fvnds.
Restricted Funds
Comprise funding for specific projects undertaken. The summary of these projecls can be found within the Trustees
Report from page 3 onwards.
-34-

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
17 Analysis of net assets between funds
Analysis between funds - current year
Unrestrlcted
2024
Restricted
2024
Total
2024
Funds balances al 31 July 2024 are Tepresenled by..
Tangible fixed assets
Current assetsllliabilitiesl
559,788
559.788
501.988
501,988
1.061,776
1,061,776
Analysls between funds - prior year
Unrestricted
2023
Restricted
2023
Total
2023
Funds balances at 31 July 2023 are represented by=
Tangible fixed assets
Current assetsl(liabililie5}
3,825
551,748
555,573
3,825
942.431
946,256
390,683
390,683
18 Operating lease commttments
Al the reporting end date, the charity had outstanding commitments for future minimum lease payments
under non-cancellable operating leases. ￿thIch fall due as follows:
GTOUP
2024
Company
2024
2023
2023
Within one year
Between and five years
1,004
1,314
2,318
8,410
2,318
10,728
1,004
1,314
2,318
8.410
2.318
10.728
19 Related party transactions
There are no related paty transactions lo disdose during the year (2023- £nil).
35-

SEVERN RIVERS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2023
20 Subsidiaries
Details of the charitls subsidiaries at 31 July 2024 are as follows..
Name of
undertaking
Registered office
Nature of
business
Class of
shares
held
Ordinary
/. Held
Dire￿ Indirect
Sevem Rivers
1 Hope House Fam Barns,
Ecology Limited Hope House Lane. Martley,
Worcesler5hire,
Environmental
consulting
activities
100
WR6 6QF
The aggregate capital and reserves and the results for the year of the subsidiaries are as follows..
Name of undertaking
Profitl{Lossl
Capital and
Reserves
Sevem Rivers Ecology Limited
690
21 Cash generated from operations
2024
2023
Surplusl{deficil) for the year
115.520
412,091
Adjustments for..
Depreciation and impairment of tangible fixed assets
Taxation charge
Movements in working capital:
(Increaselldecr6ase in debtors
IDecrease}lincrease in creditors
3,825
5,928
{33.256)
322,396
{90,1931
(190.727)
Cash generated from operatlons
408,485
137,099
22 Analysls of changes In net funds
At 1 August 2023
Cash ftows At 31 July 2024
Cash at bank and in hand
Obligations under finance leases
1.372.020
408,485 1,780,505
1.372,020
408.485 1.780,505
-36-