OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Severn Rivers Trust

2025-07-31-accounts

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 2025

ANNUAL REVIEW 2024-25

,

For Water. For Wildlife. For People ad RIVERS TRUST Unei Hone Houseee oe ics Matbey, Wortester WR6 6OF

SEVERN RIVERS TRUST (A company limited by guarantee)

LEGAL AND ADMINISTRATIVE INFORMATION

iet

Trustees

Mrs P A Cameron Watt Professor | P Maddock (Resigned 31/03/2025) Mr S S Sidhu Mr A S Harvey Ms L Stefantsova Mr| Gordon Mr G Peters Mrs L McFadzean Mrs A E Botham (Appointed 19/06/2025) Dr D C Bradley (Appointed 20/03/2025)

Secretary

Mrs J F Wharf - Head of Finance

Charity registration number 1134096 Company registration number 06642409

Registered office

Auditor

Unit 1 Hope House Farm Barns Martley Worcestershire WR6 6QF Ormerod Rutter Limited Chartered Accountants The Oakley Kidderminster Road Droitwich Worcestershire WR9Q SAY

Senior management team

Joe Pimblett - Chief Executive Officer Jennifer Wharf - Head of Finance Alice Fallon - Head of Community Engagement

SEVERN RIVERS TRUST (A company limited by guarantee)

CONTENTS

erane ne eee ee eee ey een

Page
Welcome from the Chief Executive Officer 1
Chair's report 2
Trustees’ report 3-11
Independent auditor’s report 12-14
Consolidated statement of financial activities 15
Consolidated balance sheet 16
Company balance sheet 17
Consolidated statement ofcash flows 18 :
,
Notes to the financial statements 19-35

.

SEVERN RIVERS TRUST (A company limited by guarantee)

WELCOME FROM THE CHIEF EXECUTIVE OFFICER FOR THE YEAR ENDED 31 JULY 2025 meee

Chief Executive Officer, Joe Pimblett, reflects on another busy year

This year has marked a pivotal chapter in the evolution of Severn Rivers Trust, as we set the course for our future with renewed ambition, clarity of purpose, and a strengthened commitment to the conservation and restoration of the River Severn. | am proud to reflect on a period defined by strategic progress, landmark project delivery, and organisational growth.

A key achievement has been the development of our new 2030 Project, which sets out a bold and transformative vision for the Trust over the forthcoming five years. Through consultation and careful planning, we have articulated clear, ambitious objectives that will see us double our impact in the catchment. We will engage and advise more landowners than ever before; to influence land management practices, we will deliver ever more impactful habitat creation and restoration, and we will expand our education & citizen science initiatives to empower community action. The 2030 Project will provide the strategic direction to ensure focus, resilience and long-term success at the Trust.

This year also saw the launch of the first of our Pioneer Projects, the Walcot Wiggle. This flagship initiative represents one of the most ambitious river restoration schemes ever undertaken by the Trust. By reconnecting extensive floodplain areas and reactivating historic paleochannels, the project will restore natural hydrology, boost biodiversity, and deliver significant natural flood management benefits. The Walcot Wiggle exemplifies the scale, innovation and partnership-driven approach that will define our work in the coming years.

Alongside our charitable delivery, we have continued to strengthen the financial resilience of the Trust. Our consultancy arm, Severn Rivers Ecology, has seen notable growth in its commercial activities. The successofthis enterprise is contributing vital unrestricted reserves to the Trust, enabling us to reinvest in our charitable objectives, respond flexibly to emerging needs, and build long-term organisational sustainability.

None of these achievements would be possible without the dedication of our staff, volunteers, trustees, - partners, and supporters. Their expertise, passion, and shared commitment to healthy rivers remain the driving force behind everything we do.

As we look ahead, we do so with optimism and determination. With a clear strategy, pioneering projects underway, and a robust financial base, Severn Rivers Trust is better positioned than ever to champion the restoration of the River Severn and leavea lasting legacy for future generations.

]

SEVERN RIVERS TRUST (A company limited by guarantee)

CHAIR’S REPORT FOR THE YEAR ENDED 31 JULY 2025 a a es a ae

Tony Harvey, Chair of the board of trustees, assesses the year’s achievements

It is with some pride that | introduce this year's annual report for the Severn Rivers Trust. Over the past twelve months, our trust has continued to grow in scale, ambition, and impact. Driven by a passionate team, dedicated partners, and the support of our diverse communities across the Severn catchment.

Rivers are at the frontline of climate resilience, and the Severn Rivers Trust is committed to delivering nature-based solutions that protect communities, restore habitats, and build adaptive capacity for the future. We are proud to be part ofa growing movement that places rivers at the heart of climate action.

This year, we achieved a significant milestone with our annual income reaching £2.8 million. This reflects growing confidence in our mission, strength of our partnerships and dedication of the workforce and volunteers. The financial growth, built on the results of Severn Rivers Trust and Severn Rivers Ecology has enabled us to reinforce our reach and deepen our work in protecting and restoring the Severn’s rivers and tributaries.

My fellow trustees and | have seen firsthand projects over the year, including the paleochannel reconnection scheme on the River Onny mentioned by the CEO, which have provided flood water attenuation and benefits for fish species such as the Atlantic salmon and brown trout. Also work by the Trust with the farming community in Shropshire on wetland development that also delivers natural flood management as well as habitat for species including curlew and lapwing. Behind these accomplishments lies a team of staff and volunteers whose commitment to the river's future is nothing short of inspiring. | also want to acknowledge the leadership of our CEO, Joe Pimblett, whose leadership and advocacy positions the Trust as a strong voice in river conservation. Finally, | would also extend my sincere thanks to our Board of Trustees. Their diverse expertise helps us navigate the Trust's mission with confidence. In particular addressing our duty to ensure we manage business financial and wider risks including safeguarding of those who work for the Trust and communities with which we work. The Trustees’ collective stewardship, insight, and commitment to good governance remains instrumental in shaping our direction and ensuring our long-term sustainability.

The challenges facing the Severn catchment remains complex. But our resolve is strong as we look ahead, and we will be focused on our goal of playing a key role in the conservation and recovery of this great river. As demonstrated in the contents of this report setting out our work and sound financial results over the last year.

The Trustees have pleasure in presenting their report along with audited financial statements for the year ended 31 July 2025.

2

SEVERN RIVERS TRUST (A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 JULY 2025

The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and “Accounting 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 (FRS 102)” (effective 1 January 2019).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 has not been provided.

Strategic overview

Severn Rivers Trust is entering a new strategic period guided by our ambitious 2030 Project. This strategy marks a pivotal moment in our development, as we look to build on strong foundations, sharpen our focus, accelerate delivery, and challenge the status quo to ultimately double our impact.

Our mission remains clear: to protect, enhance and restore the River Severn and its tributaries for people, nature and future generations. The 2030 Project will ensure that our actions, resources and voice are aligned to deliver tangible, lasting outcomes.

The 2030 Project in Summary:

The 2030 Project is structured around four key pillars, each supported by defined Goals and Key Performance Indicators (KPIs) to track progress, ensure accountability and maintain focus.

  1. Our Finances

Objective: Strengthen financial sustainability to support long-term impact.

2. Our Impact

Objective: Deliver measurable environmental outcomes across the Severn catchment.

3

SEVERN RIVERS TRUST (A company limited by guarantee) TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025 e a ace en

3. Our Influence

Objective: Amplify our voice to shape policy, partnerships and public awareness.

4, Our Team

Objective: Empower and grow a high-performing, motivated workforce.

The 2030 Project represents a bold step forward for Severn Rivers Trust. With clear pillars, defined objectives and a focus on measurable impact, we are poised to deepen our influence, enhance our delivery and ensure a thriving River Severn for generations to come.

Together, we will create lasting change — for rivers, wildlife and communities.

Achievements and performance

Key financial performance indicators

The Senior Management Team and Board of Trustees monitor financial progress by means of the tracking the following financial KPls, which enable performance against the stated financial goals to be assessed throughout the year.

4

SEVERN RIVERS TRUST (A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 ia a a

Continued progress has been made towards all of the financial goals outlined during the course of this reporting period.

Review of activities

We continue to work closely with individuals and organisations along the river including farmers and land managers, environmental organisations, communities and businesses to preserve this fantastic river catchment.

The sub-division of the Severn into six (sub) management-catchments (Severn Uplands; Shropshire Middle Severn; Worcestershire Middle Severn; Teme; Warwickshire Avon and Severn Vale) helps us to focus resource and funding to projects within the catchments. We continue to be a lead partner in the Catchment Based Approach (CaBA) to coordinate activities to the benefit of the river and its surroundings.

The past 12 months has seen a period of great acceleration in activity throughout the catchment. The following headline updates provide a snapshot of the scale and diversity of the Trust's work during this period.

Most of the work took place between Oct and April, with astonishing outputs; o 6ha of new wetland habitat created

5

:

SEVERN RIVERS TRUST (A company limited by guarantee) TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

eee e Severn Woodlands — our biggest year yet!

The Trust’s Severn Woodlands Programme, which provides landowners with a competitive financial offer to plant and maintain new farm woodlands, has continued at pace. Further funding for the 24/25 planting season, enabled us to not just maintain delivery in line with previous years, but to scale it and achieve our largest woodland planting area to date, comprising around 30,000 trees. Woodlands created through this scheme are designed to achieve maximum biodiversity benefit for our rivers, helping to infiltrate farm run-off, provide river shade to maintain water temperatures, and create valuable riparian corridors for wildlife.

The prolonged dry weather that followed this year's planting season has inevitably impacted on establishment rates of the young trees. The projects ‘risk pot' will now be used to ‘beat-up’ woodland areas to ensure woodland habitat establishes as intended. The impacts of a warming climate, and more unpredictable weather patterns, will no doubt pose an ever-greater risk to our habitat creation and restoration work.

==> picture [312 x 97] intentionally omitted <==

----- Start of picture text -----
' a, Hy i Ne one
NGS een eh RS Se ree een 1 9 A
0 Re eS ee
Fee NMS MM EST } bs Sebe Be
Sapl OTS ty Ri Nee Bs sce oe
----- End of picture text -----

e Roll out and expansion of the Black Country River Schools project

The Black Country River Schools Project is an innovative education and green infrastructure project designed to reconnect communities with their local rivers while promoting environmental stewardship. Working with three schools across the Black Country, the project empowers young people to understand, value, and protect their local water environments through practical, hands-on experiences. The past year, has seen an expansion in activity and, importantly, a roll out within the wider catchment.

6

SEVERN RIVERS TRUST (A company limited by guarantee) TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 a a ee ee en a ee a

By combining learning with action, the focus of our work has been installing riverfriendly features such as wildlife ponds, rain planters, green roof shelters, and native hedgerows within school grounds. These installations enhance biodiversity, support natural flood management, and create outdoor learning spaces that bring environmental education to life across the curriculum.

This year, over 1,200 children have benefited from engaging workshops, tree planting, and riverside visits, fostering a deeper connection to their local environment. The project's infrastructure improvements now enable the three schools to collectively store more than 8,000 litres of water on-site, helping reduce surface flooding and improve climate resilience.

==> picture [337 x 178] intentionally omitted <==

----- Start of picture text -----
Through this collaborative approach, we are transforming school grounds into
vibrant hubs of ecological learning and community engagement, building a lasting
legacy of environmental awareness, biodiversity, and resilience. This successful
model has now been extended into two new schools in Tenbury Wells, engaging
new communities across the wider eaicala
" ‘=iPo ® aie | Mh j
ison +FOLLETTi pi A le 1 ee: 2 PEELfoe .
et G J _— a Se } A Re
----- End of picture text -----

Severn Rivers Ecology

The Severn Rivers Trust is the sole shareholder of the not-for-profit subsidiary, Severn Rivers Ecology Limited (SRE), company number 10081868. The principal activity of SRE is to provide ecological consultancy services, that generate an unrestricted source of income that can be invested in our charitable objectives. SRE was incorporated in March 2016, and a profit-shedding agreement exists between the two companies.

The past year has seen substantial growth in our core commercial activities, which now include services in surveying & monitoring, habitat design, feasibility and creation, Biodiversity Net Gain, and farm consultancy. Our services are delivered nationwide, to a range of clients from farm businesses to corporate entities, to environmental groups and organisations.

SRE has undergone somewhat of a refresh during this period. It is now being used as the primary umbrella and delivery mechanism for our commercial services and, as such, has seen the launch of a new website and branding update, ahead of a proactive marketing campaign planned for the year ahead.

SRE’s total turnover amounted to £770,643 with an operating profit of ENil

7

;

SEVERN RIVERS TRUST (A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 a eee

Financial Review

Severn Rivers Trust works across three delivery teams to meet its strategic direction. The breakdown for income type and expenditure are shown below. In 2024/2025, the total income for the Trust was £2,235,752 of which, £205,658 (9%) was unrestricted income and £2,030,094 (91%) was restricted to specific projects. This compares to £1,556,657 total income for the previous year (10% unrestricted income and 90% restricted income).

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves policy

The charity is committed to using its reserves in pursuit of its charitable objective. The charity's policy on reserves is for them to be sufficient to meet the anticipated needs of the trust as prudently estimated by the trustees. The objective of the Trust is to have a working reserve suitable to manage the risks of the Trust.

The attached financial statements show the total reserves at 31 July 2025 were £1,196,552 (2023/24: £1,061,776).

Thank you

We are immensely grateful for the financial support received by the Trust and would like to acknowledge the individuals, businesses and organisations who have donated financial and resource support for our work over the past year. Without your continued support, much of our valuable work would not be possible.

Governance and support

Constitution

The company is registered as a charitable company limited by guarantee and was established and constituted by a Memorandum of Association on 9 July 2008.

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Method of appointment or election of Trustees

The Board of Trustees is made up of nine members at 31%' July 2025. The make-up of the Board includes experts in finance, accounting, risk management, freshwater ecology, health & safety, and education.

The board regularly reviews the experience profile of its members and where necessary defines any additional skills required. Board members use their own network of contacts to identify

8

SEVERN RIVERS TRUST (A company limited by guarantee)

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

eee

suitable candidates possessing the necessary knowledge and skills to act as trustees of the charity. The board appoints all new trustees after an initial 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 are monitored by the Chair and CEO. A Code of Conduct is in place for the Board of Trustees.

Pay policy for senior staff

The Senior Management Team benchmark staff remuneration and terms and conditions of employment annually, with proposed recommendations for consideration by the Board of Trustees.

Organisational structure and decision making

The Chief Executive is responsible for the day to day running of the Trust and reports to the Board, which is constituted of the Trustees. The Trustees meet four times a year at regular intervals to review finance, risk and organisational development. In between 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 Rivers Trust and subsidiary company, Severn Rivers Ecology, including the overall control of risk management, particularly setting the parameters of the process and reviewing and considering the results.

Our risk identification process is set and managed by the Finance & Risk Committee. All areas of risk are covered by our process, including financial, governance, operational and reputational.

An annual audit on the controls takes place. Day to day management and coordination of the process is delegated to the Chief Executive who reports to the Board of Trustees 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 being — carefully monitored and managed include;

9

SEVERN RIVERS TRUST (A company limited by guarantee) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 ee

Staff retention and recruitment challenges — Sector-wide staff turnover and recruitment challenges have affected the Trust in recent years, but the past 12 months have seen clear improvement. In response to internal and external factors, recent recruitment has filled vacancies more quickly and attracted higher-calibre candidates. The new Pathway Programme, launching in the next financial year, will provide an annual intake of entry-level staff to further support the Trust's growth and resilience.

Reducing dependence on grant funding sources — the Management Team have wide ranging skills in charitable trust fundraising, including statutory agencies, lottery and charitable trusts, 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.

Lack of budget control procedures — The CEO and Head of Finance, working with the Finance & Risk Committee, ensure that business planning is closely aligned with budgets and projects. The use of Xero provides strong financial control and oversight across the Trust. In addition, a Scheme of Delegation, established under Clause 50 of the Articles of Association, clearly defines the authority delegated by the Board to committees and staff, providing a transparent and auditable framework for financial governance.

Failure to meet Health & Safety standards and regulations — Ensuring the health and safety (H&S) of employees, volunteers, and contractors is a top priority for the Trust. Ultimate responsibility for H&S rests with the Chief Executive, supported by the management team, who collectively act as the appointed competent persons for H&S management. Oversight is provided by the Board of Trustees, led by an appointed H&S lead. The Trust actively manages H&S risks through a combination of robust policies, regular risk assessments, training, and monitoring of activities. During this period, an external H&S review was conducted to test existing policies and procedures, providing recommendations that have been incorporated to further elevate safety standards.

Lack of site safeguarding — The Trust works with children and vulnerable adults across all aspects of its work from schools to farmers. 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 to ensure adherence to the policy.

10

SEVERN RIVERS TRUST (A company limited by guarantee)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 tni SO a

Statement of trustees’ responsibilities

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

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the group and the company and of the incoming resources and application of resources, including income and expenditure for that year. In preparing these financial statements, the Trustees are required to focus on:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with 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 information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

This report was approved by the Trustees, on 18" December 2025 and signed on their behalf by:

Tony Harvey, Chair

-ll-

SEVERN RIVERS TRUST (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SEVERN RIVERS TRUST pa i Ee ee

Opinion

We have audited the financial statements of Severn Rivers Trust (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 July 2025 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 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, 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 to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern 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 statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

-{2-

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 (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation offinancial 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 going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's 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 always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and. regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company, we identified 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 procedures performed included discussions with management, review of board meeting minutes, testing of journals, designing and performing audit procedures and challenging assumptions and Judgements made by management in relation to accounting estimates.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances 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 concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: htto://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

-13-

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 trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

forColm andMcGrory on behalfFCA of Ormerod(Senior StatutoryRutter LimitedAuditor)

aalialacas

Chartered Accountants

Statutory Auditor

Ormerod Rutter Limited

Chartered Accountants The Oakley Kidderminster Road Droitwich Worcestershire WR9 9AY

-14-

SEVERN RIVERS TRUST

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 JULY 2025

Note Unrestricted Restricted Unrestricted Restricted
Income from: funds
2025		 funds
2025		 Total
2025		 funds
2024		 funds
2024		 Total
2024
£ £ £ £ £ £
Donations & grants 3 5,834 2,030,094 2,035,928 13,555 1,398,386 1,411,941
Other trading 4 816,187 - 816,187 1,038,837 - 1,038,837
activities
Investments 5 4,120 - 4,120 - ~ -
Total income 826,141 2,030,094 2,856,235 1,052,392 1,398,386 2,450,778
Expenditure on:
Raising funds 6 620,483 - 620,483 894,121 - 894,121
Charitable activities 7 294,980 1,805,996 2,100,976 143,804 1,297,333 1,441,137
Total expenditure 915,463 1,805,996 2,721,459 1,037,925 1,297,333 2,335,258
Net movement in
funds before (89,322) 224,098 134,776 14,467 101,053 115,520
transfer offunds
Transfer offunds 279 (279) - (10,252) 10,252 -
Net movement in
funds after
transfer offunds		 (89,043) 223,819 134,776 4,215 111,305. 115,520
Reconciliation of
funds:
Total funds brought 559,788 501,988 1,061,776 555,573 390,683 946,256
forward
Total funds 470,745 725,807 1,196,552 559,788 501,988 1,061,776
carriedforward

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year, All income and expenditure derive from continuing activities.

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

= [5 =

SEVERN RIVERS TRUST (A company limited by guarantee)

CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025

a

==> picture [454 x 280] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Fixed|assets| |Tangible|assets|12|5,503|-| |5,503|-| |Current|assets| |Debtors|14|152,155|234,653| |Cash|at|bank|and|in|hand|2,629,891|1,780,505| |Creditors:|amounts|falling|due|within|one|2,782,046|2,015,158| |year|15| |1,590,997)|953,382| |Net|current|assets|1,191,049|1,061,776| |Total|assets|less|current|liabilities|1,196,552|1,061,776| |Total|net assets|1,196,552|1,061,776| |Charity funds| |Restricted|funds|16|725,807|501,988| |Unrestricted|funds|16|470,745|559,788| |Total funds|1,196,552|1,061,776|

----- End of picture text -----

The company was entitled to exemption from audit under section 477 of the 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 to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved by the Trustees on 18! December 2025 and signed on their behalf

==> picture [143 x 24] intentionally omitted <==

----- Start of picture text -----
MrAS 4 .
Chair of Trustees
----- End of picture text -----

Company Registration No. 06642409

-16-

SEVERN RIVERS TRUST (A company limited by guarantee)

COMPANY BALANCE SHEET AS AT 317 JULY 2025

en ae

2025 2025 2024 2024
Notes £ £ £ £
Fixed assets
Tangible assets
Investments		 12
13		 5,503
1		 -
1
5,504 1
Current assets
Debtors 14 320,919 366,071
Cash at bank and in hand 1,608,411 732,133
1,929,330 1,098,204
Creditors: amounts falling due within one
year 15 (738,972) (37,118)
Net current assets 1,190,358 1,061,086
Total assets less current liabilities 1,195,862 1,061,087
Total assets 1,195,862 1,061,087
Charityfunds
Restricted funds 725,807 501,988
Unrestricted funds 470,055 559,099
Total funds 1,195,862 _
1,061,087

The company was entitled to exemption from audit under section 477 of the 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 to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

As permitted by s408 Companies Act 2006, the company has not presented its own statement of financial activities and related notes. The charity's surplus for the year was £134,776 (2024 - £115,520).

The financial statements were approved by the Trustees on 18 December 2025 and signed on their behalf by:

==> picture [103 x 24] intentionally omitted <==

----- Start of picture text -----
Mr A S Harvey —_
Chair of Trustees
----- End of picture text -----

Company Registration No. 06642409

-17-

SEVERN RIVERS TRUST (A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2025

==> picture [456 x 12] intentionally omitted <==

----- Start of picture text -----
aee
----- End of picture text -----

==> picture [455 x 301] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Notes|2025|2024| |£|E|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|21|851,656|408,485| |Net cash|flow from|operating|activities|851,656|408,485| |Cash|flows|from|investing|activities| |Purchase|of tangible|fixed|assets|(6,390)|=| |Interest|received|4,120| |Net cash|used|in|investing|activities|(2,270)|-| |Cash|flows|from|financing|activities| |Hire|purchase|-|-| |Repayment|of|loan|=|=| |Net|cash|used|in|financing|activities|-|-| |Change|in|cash|and|cash|849,386|408,485| |equivalents| |Cash|and|cash|equivalents|at|1,780,505|1,372,020| |beginning|of|the|year| |Cash|and|cash|equivalents|at end|of| |the year|2,629,891|1,780,505|

----- End of picture text -----

The notes on pages 19 to 35 form part of these financial statements.

-18-

SEVERN RIVERS TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ceeee

Charity information

Severn Rivers Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 1 Hope House Farm Barns, Hope House Lane, Martley, Worcestershire, WR6 6QF.

1.1. Accounting convention The financial statements have been prepared in accordance with the charity's memorandum and articles of association, the Companies Act 2006 and “Accounting 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 (FRS 102)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements consolidate the results of the charity and its wholly-owned subsidiary Severn Rivers Ecology Limited on a line by line basis. Transactions and balances between 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.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses 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 it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. The only exception to this is grants received for phases of projects which have yet to 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 from the Charities SORP FRS102 but consider its recognition in the year of receipt would be misleading that it would conflict the requirement to give a true and fair view. The income has 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 to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

-19-

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 ai

1Accounting 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 is expected. If the amount is 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 purposes 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, its recognition is deferred and included in creditors as deferred 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 for or on completion of the service.

Project income grants are recognised when there is entitlement and are not deferred over the project term. Unspent amounts of project grants are reflected in the balance within the restricted fund.

1.5 Resources expended Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to 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 attributed 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 funds.

:

Expenditure on charitable activities includes costs 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.

Governance costs are those costs associated with meeting the constitutional and statutory requirements and include any costs associated with the strategic management of the charity.

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 asset can be measured reliably.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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

-~20-

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies (continued) The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. Investments in subsidiaries are at cost less provision for impairment.

1.8 Impairment of fixed assets

The charity is exempt from Corporation Tax on its charitable activities,

The charitable company operated a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

1.13 Liabilities and provisions

1.14 Operating leases

-2]-

SEVERN RIVERS TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 SeIe Tes ee ae 2 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying 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 to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate 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,

3. Donations and grants

==> picture [443 x 241] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Restricted|Unrestricted|Restricted| |funds|funds|Total|funds|funds|Total| |2025|2025|2025|2024|2024|2024| |£|£|£|£|£|£| |Donations|5,834|-|5,834|4,100|-|4,100| |Grants|-|2,030,094|2,030,094|9,455|1,398,386|1,407,844| |ne5,834|te2,030,094ct|Rd2,035,928D1|13,555SAL}1,398,386|1,411,941I| |Other|trading|activities|— non non|charitable|income| |Unrestricted|Restricted|Unrestricted|Restricted| |funds|funds|Total|funds|funds|Total| |2025|2025|2025|2024|2024|2024| |£|£|£|£|£|£| |Consultancy|203,080|-|203,080|516,170|-|516,170| |Grants|53,151|-|53,151|10,602|-|10,602| |Other income|559,956|-|559,956|512,065|-|512,065| |FOTO816,187|-|816,187|NOG,1,038,837 OOF|NGOS~|1,038,837 4|

----- End of picture text -----

4 Other trading activities — non non charitable income

Other income relates to surveys, carbon offsetting, biodiversity net gain and educational activities.

5 Investments

Bank interest

==> picture [83 x 53] intentionally omitted <==

----- Start of picture text -----
||| |---|---| |Total|Total| |2025|2024| |£|£| |4,120|-|

----- End of picture text -----

-22-

SEVERN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

6 Raising funds

6 Raising funds
Unrestricted Unrestricted
2025 2024
£ £
Project costs 609,768 875,390
Rent and rates 395 6,929
Website costs 1,400 -
Bank charges 92 85
Printing and stationery 295 281
Governance costs 4,019 6,898
Sundry expenses 2,209 3,300
Stafftraining 2,305 1,238
Depreciation of tangible fixed assets - -
620,483 894,121
7 Charitable activities
2025 2024
£ £
Staff costs 701,449 642,924
Depreciation and impairment 887 3,825
Project, travel and subsistence 89,003 69,670
Projectwork 1,231,301 617,308
Other project costs 6,710 18,407
2,029,350 1,352,134
Share ofsupport costs (see note 8) 61,375 81,566
Share ofgovernance costs (see note 8) 10,251 7,437
2,100,976 1,441,137
Analysisbyfund
Unrestricted funds 294,980 143,812
Restricted funds 1,805,996 1,297,325
2,100,976 1,441,137

=93..

.

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

eee

& Support costs
Support Governance Total Support Governance Total
costs costs 2025 costs costs 2024
£ £ £ £ £ £
Travel and subsistence 9,489 - 9,489 10,052 - 10,052
Marketing costs 229 - 229 1,453 - 1,453
Othersupport costs 51,366 - 51,366 70,000 - 70,000
Gain/loss on foreign
exchange 291 - 291 61 - 61
Governance costs - 10,251 10,251 - 7,437 7,437
Analysed between: 61,375 10,251 71,626 81,566 7,437 89,003_
Charitableactivities 61,375 10,251 71,626 81,566 7,437 89,003

Governance costs above include fees for auditors’ remuneration of £5,590 (2024 - £6,364), VAT services £1,250, HR services £3,246, trustees expenses £103 (2024 - £366) and sundry costs of £62 (2024 - £107).

9 Trustees remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2024 - £nil).

During the year, expenses amounting to £760 were reimbursed or paid directly in relation to expenses incurred supporting the charitable activities of the Trust (2024 - £366).

24

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

a

|

10 Staff costs

Number of employees

The average monthly number of employees during the year for the group was as follows:

Group Group
2025 2024
Number Number
Senior management 3 3
Administration and operations 26 26
29 29
Employment costs Group Group Company Company
2025 2024 2025 2024
£ £ £ £
Wages and salaries 776,920 707,577 574,884 521,122
Social security costs 65,938 64,942 65,938 64,942
Other pension costs 60,627 56,860 60,627 56,860
903,485 829,379 701,449 642,924

The key management personnel ofthe[ group][are][ represented][by][ the][roles][ within] management[ and][finance.] The total employee benefits (including employer pension contributions) received by key management personnel was £187,146 (2024 - £201,986).

The number of employees whose annual remuneration was more than £60,000 is as follows:

2025 2024
Number Number
tt

11 Net income/(expenditure)

This is stated after charging:

2025 2024
£ £
Depreciation 887 3,825
Auditors’ remuneration - audit 8,660 8,255
Auditors’ remuneration - other services 190 1,737
Operatingleaserentals 1,308 1,004

2 D5:<

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

iEO

12 Tangible fixed assets

Group
Plant and
Machinery		 Computer
Equipment		 Motor
Vehicles		 Total
£ £ £ £
Cost
At 1 August2024
Additions
Disposals		 15,062
-
-		 15,345
6,390
-		 35,592
-
-		 65,999
6,390
-
At 31 July2025 15,062 21,735 35,592 72,389
Depreciation and
impairment
At 1 August 2024 15,062 15,345 35,592 65,999
Depreciation charged in the - 887 - 887
year
Eliminated in respect of - - - -
disposals
At 31 July2025 __15,062 16,232 7 35,592 - 66,886
Carrying amount
At 31 July2025 - 5,503 - 5,503
At 31 July 2024 - - - -
Company
Plant and
Machinery		 Computer
Equipment		 Motor
Vehicles		 Total
£ £ £ £
Cost
At 1 August 2024
Disposals		 15,062
-		 14,508
6,390		 35,592
-		 65,162
6,390
At 31 July2025 15,062 20,898 35,592 71,552
Depreciation and
impairment
At 1 August2024 15,062 14,508 35,592 65,162
Depreciation charged in the - 887 - 887
year
Elimination on disposal - - - -
At 31 July2025 15,062 15,395 35,592 66,049
Carrying amount
At 31 July2025 - 5,503 - 5,503
At31July2024 - - - -

-26-

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

13 Fixed asset investments

Company

Investment Investment
in
subsidiary
company
Cost or valuation £
At 1 August 2024 & 31 July 2025 j
Carrying amount
At31 July 2025 1
At 31 July 2024 __ 1

14 Debtors

Group Company
Amounts falling due within one year: 2025 2024 2025 2024
£ £ £ £
Trade debtors 78,094 192,518 62,043 158,887
Amounts due to group undertakings - - 184,815 165,049
Prepayments and accrued income 74,061 42,135 74,061 42,135
152,155 234,653 320,919 366,071

SEVERN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

15 Creditors: amounts falling due within one year

Group Company
2025 2024 2025 2024
£ £ £ £
Other taxation and social security 45,647 25,891 45,647 15,124
Trade creditors 196,633 6,898 171,885 1,004
Other creditors 2,526 1,369 2,526 1,369
Accruals and deferred income 1,346,191 919,224 518,914 19,621
1,590,997 953,382 738,972 37,118
Group Company
2025 2024 2025 2024
£ £ £ £
Deferred income
Deferred income at 1 August 2024 423,806 581,175 - 75,648
Resources deferred during the year 1,051,000 423,806 490,000 -
Amounts released from previous (423,806) (581,175) - (75,648)
periods
1,051,000 423,806 490,000 -

Deferred income relates to income received in advance for contract income.

~28-

SEVERN RIVERS TRUST

.

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

16 Statement of funds

The income funds of the group include restricted and unrestricted funds comprising the following unexpended balances held:

Statement of funds - current year

Movement in funds
Balance at Incoming Resources Transfers Balance at
1 August resources expended 31 July
2024 2025
£ £ £ £ £
Unrestricted funds
General overhead fund
Grants		 158,405
332,137		 128,298
-		 (30,397)
(207,018)		 279
-		 256,585
425,119
Other income — Consultancy 68,557 77,360 (57,566) - 88,351
Severn Rivers Ecology 689 770,643 (770,643) - 689
559,788 976,301 (1,065,624)_ 279 470,744

-29-

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

16 Statement of funds (continued)

==> picture [467 x 552] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Movement|in|funds| |Balance|at|1|Incoming|Resources|Transfers|Balance|at| |August|resources|expended|31|July| |2024|2025| |£|£|£|£|£| |Restricted|funds| |Cain|SMS|8,491|-|(8,215)|(276)|-| |Nant SMS|954|-|(954)|-|-| |CaBA — All|projects|126,732|-|(91,676)|(4)|35,053| |Knighton|NFM-LM-TE|5,438|400,000|(99,630)|-|5,808| |Leam|31,194|50,154|(46,147)|-|35,195| |Shipston|735|-|(735)|=|”| |STEPS|Cound|Brook|27,159|(4,125)|(23,035)|1|-| |Teme|30,914|-|(20,874)|-|10,040| |Aine|10,476|-|-|-|10,476| |Ryeford|Mill|35,612|-|(4,254)|-|31,358| |Warwick|Eel|Traps|64,103|-|(4,419)|-|49,684| |Resilient|River Teme|13,822|-|(13,822)|-|-| |Woodland|for Water|32,926|29,010|(15,048)|-|46,888| |Guilsfield|Demonstrator|80|127,176|(83,948)|-|43,308| |CaSTCo|30,085|18,580|(37,155)|-|11,510| |Stour|1,432|25,000|(24,136)|-|2,296| |Enriching|Landscapes|960|-|(960)|-|-| |Salmon|PHD|14,074|-|(10,038)|-|4,036| |SevernSkillsGap|2,586|-|(2,586)|-|-| |Resilient|River Banwy|(2,229)|116,215|(104,333)|-|12,653| |Kyre|Brook|19,378|49,381|(52,118)|-|16,644| |Rea|Demonstrator|5,155|171,002|(188,215)|-|(12,058)| |Llanfyllin|NFM|(560}|450,000|(122,230)|-|27,210| |Severn|Valley|Reaction|40|30,000|(30,923)|-|(883)| |Smestow|Brook|670|-|(670)|=|-| |Black|Country|River|Schools|43,185|145,078|(93,562)|-|94,701| |Teme|Nature|Solutions|1,384|-|(1,384)|-|-| |Illey|Brook|(12,071)|34,660|(24,679)|-|(2,090)| |Ernst|Cook Trust|20,000|20,000|(20,000)|-|20,000| |Upper Teme|(404)|42,475|(12,250)|-|(179)| |Fromebridge|(26)|77,260|(76,780)|-|454| |Wilder|Frome|-|49,992|(44,669)|-|5,323| |Ebley|Mill|-|30,000|(24,781)|-|5,219| |Elms|Farm|(121)|160,100|(158,530)|-|1,449| |Temeing|with|Life|(140)|94,990|(91,467)|-|3,383| |Teme|Big|Fish|(43)|79,987|(68,411)|-|11,533| |Beaver|Reintroduction|-|89,317|(81,287)|-|8,030| |Ranunculus|Translocation|-|29,898|(29,898)|-|-| |Coventry|Rivers|Citizen|Science|-|49,840|(25,916)|-|23,924| |River|Restoration|Tenbury|-|75,000|(1,176)|~|73,824| |School|Rain|Gardens|-|86,500|(27,057)|-|59,443| |Woodland|Creation|Tenbury|-|25,000|(98)|-|24,902| |WEIF|Monitoring|-|15,000|(17,213)|-|(2,213)| |Vyrnwy|Headwaters|-|14,246|(5,683)|-|8,563| |Temeing|with|Life Welsh|INRS|-|17,111|(4,178)|-|12,933| |HDH|Wills|River|Restoration|-|20,000|-|-|20,000| |Linder|Foundation|Upper Teme|-|20,000|(10,139)|-|9,861| |River Leam|Restoration|-|-|(26)|-|(26)| |Knighton|to|Newtown|-|15,000|(3,165)|-|11,835| |Wilder Leadon|-|6,250|(526)|-|5,724| |501,988|2,030,094|(1,805,996)|(279)|725,807| |Total funds|1,061,776|2,856,235|(2,721,459)|-|1,196,552|

----- End of picture text -----

-30-

SEVERN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

16 Statement of funds (continued)

Statement of funds- prior year

Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at
1 August resources expended 31 July
2023 2024
£ £ £ £ £
Unrestricted funds
General overhead fund 111,890 4,100 (53,714) - 62,276
Fishing passports - - - “ “
Grants
Severn Rivers Ecology		 442,994
689		 9,455
1,038,837		 (90,090)
(894,121)		 (10,252)
-		 352,107
145,405
555,573 1,052,392 _ (1,037,925) (10,252) 559,788

3] -

SEVERN RIVERS TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

16 Statement of funds (continued)

Movement in funds
Balance at Incoming Resources Transfers Balance at
1 August resources expended 31 July
2023 2024
£ £ E £ £
Restricted funds
Cain SMS
NantSMS		 (2,878)
(1,331)		 28,789
13,422		 (17,420)
(11,137)		 -
-		 8,491
954
CaBA— All projects 71,530 180,000 (124,798) - 126,732
Knighton NFM-LM-TE 2 100,000 (94,564) - 5,438
Leam
Shipston
STEPS Cound Brook		 29,952
34,783
411,325		 50,000
-
38,374		 (48,761)
(34,048)
(22,540)		 -
-
-		 31,191
735
27,159
Teme 12,612 85,000 (66,698) - 30,914
Alne
BCBN
Ryeford Mill		 10,476
(9,879)
56,038		 -
-
-		 -
.
(20,426)		 -
9,879
-		 10,476
.
35,612
Springs of Rivers 5,002 - - (5,002) -
Wanwick Eel Traps 58,386 - (4,283) - 54,103
Sustainable Farming 3,024 - - (3,024) -
Resilient RiverTeme - 14,821 (999) - 13,822
Woodland forWater
Guilsfield Demonstrator		 5,524
20,099		 55,248
69,425		 (27,846)
(89,444)		 -
-		 32,926
80
CaSTCo 16,451 61,200 (47,566) - 30,085
Stour 813 8,000 (7,381) - 1,432
Enriching Landscapes 9,836 15,000 (23,876) - 960
Salmon PHD 20,661 - (6,587) - 14,074
Reaction 4 303 - - (303) -
SevernSkillsGap 35,804 50,000 (83,218) - 2,586
Resilient River Banwy 2,139 135,620 (139,988) - (2,229)
Kyre Brook 252 59,036 (39,910) - 19,378
Mizuiku (241) - 241 - -
Rea Demonstrator - 71,464 (66,309) - 5,155
Llanfyllin NFM - 50,000 (50,560) - (560)
Severn Valley Reaction - 30,000 (29,960) - 40
Smestow Brook - 20,000 (19,330) - 670
' Black Country River Schools - 109,750 (66,565) - 43,185
Teme Nature Solutions - 45,000 (43,618) - 1,384
Illey Brook - - (12,071) - (12,071)
Ernst Cook Trust - 20,000 - - 20,000
UpperTeme - - (404) - (404)
Fromebridge - - (26) - (26)
Elms Farm - - (121) - (121)
Temeing with Life - - (140) - (140)
Teme Big Fish - - (43) - (43)
BCBN-RR-WMS closed - 49,608 (39,728) (9,880) -
~ Sustainable Farming
RB9Q Fish easement
Reaction Upper		 -
-
-		 3,782
34,847
-		 (6,805)
(34,847)
(303)		 3,023
-
303		 -
-
-
Other - - 357 (357) -
Springs of Rivers - - (5,002) 5,002 -
Leadon - - (10,611) 10,614 -
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
=32-

SEVERN RIVERS TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

16 Statement of funds (continued)

Unrestricted Funds

Include grants from central and local government agencies, water supply companies and charities with interests in the environment within the UK.

The balances from Severn Rivers Ecology Limited (trading subsidiary) are also included within unrestricted funds.

Restricted Funds

Comprise funding for specific projects undertaken. The summary of these projects can be found within the Trustees Report from page 3 onwards.

eke

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

17 Analysis of net assets between funds

Analysis between funds - current year

Unrestricted Restricted Total
2025 2025 2025
£ £ £
Funds balances at 31 July 2025 are represented by:
Tangible fixed assets - - -
Current assets/(liabilities) 470,745 725,807 1,196,552
470,745 725,807 1,196,552
Analysis between funds - prioryear
Unrestricted Restricted Total
2024 2024 2024
£ £ £
Funds balances at 31 July 2024 are represented by:
Tangible fixed assets - - -
Current assets/(liabilities) 559,788 501,988 1,061,776
559,788 501,988 1,061,776

18 Operating lease commitments

At the reporting end date, the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group Company
2025 2024 2025 2024
£ £ = £
Within one year 1,308 1,004 1,308 1,004
Between two and five years 3,793 1,314 3,793 1,314
5,101 2,318 5,101 2,318

19 Related party transactions

There are no related party transactions to disclose during the year (2024 - £nil).

-34-

SEVERN RIVERS TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

20 Subsidiaries

Details of the charity's subsidiaries at 31 July 2025 are as follows:

==> picture [421 x 73] intentionally omitted <==

----- Start of picture text -----
Name of Registered office Nature 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
----- End of picture text -----

The aggregate capital and reserves and the results for the year of the subsidiaries are as follows:

Name of undertaking Profit/(Loss) Capital and
Reserves
£ £
Severn Rivers Ecology Limited - 690
21 Cash generated from operations 2025 2024
£ £
Surplus/(deficit) forthe year 134,776 115,520
Adjustments for:
Depreciation and impairment oftangible fixed assets 887 3,825
Bank interest (4,120) -
Movements in working capital:
(Increase)/decrease in debtors 82,498 (33,256)
(Decrease )/increase
in creditors		 637,615 322,396
Cash generated from operations 851,656 408,485
22 Analysis ofchanges in netfunds
At 1 August2024 Cash flowsAt31 31 July2025
£ £ £
Cash at bank and in hand 1,780,505 849,386 2,629,891
Obligations underfinance leases = = =
1,780,505 849,386 2,629,891

22 Analysis of changes in net funds

~35-