WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE AUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 March 2024 Company Number: 07019413 Charlty Number: 1142396
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 CONTENTS PAGES Members of the Board and Ptofes5ional Adv150rs Trustee5' Report 2to14 Auditors, Report 15to19 Statement of Flnancial Actlvitles 20 Balance Sheet 21 Cash Flow Statement 22 Notes to the Financial Statements 23tg47
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS . The Board of Trustees, Mr D J Magrath Mr M HastlAgs Mr5 P Dunlop MrR Hayman Mr M Buckley (Resigned September 16 ,20241 M5A R G Mccooev Mr l M Payne (Reslgned April 22 20241 MF A J Richardson IResiÉned july 10, 20231 Mrs J E Saxon M5 H Baker nd Company Secretary Miss Jodie Mills Trust Operations DitOr Isenior Management) Mi55 Jodie Mills Registered Office Ke5wick Convention Centre Sklddaw Street Keswick CA12 4BY Audltors Salht & Co Wavell Oiwe Bosehill Carlisle CAI 2SA Bankers Handelsb3nken l Merchant5 Drive Parkhouse Carlisle CA3 OJW Page 1
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 The Trustee5 (who are a150 directors of the charity for the purposes of the Companies Attl present thèlr annual report together wlth the financial statements of West Cumbria Rivers Trust Llmited Ithe company) for the year ended 31 March 2024. The Trustee5 £onfirm that the Annual Report and financial statements of the company comply wlth the current statutory requiiements, the requirements of the company's governlng document and are in accordance wlth the Flnancial Reporting Stshdard applicable In the LIK and the Republic of Ireland IFRS 1021 leffectlve l January 20191. 5tructureigovernan¢e and management CONSITITUTION The Company 15 registered as a charitable company limlted by guarantee and was set up by a Memorandum of Association on 1510912009, origlnally as Derwent Rivews "Trust Limlted, chanEind Its name to West Cumbria Rlvers Trust Limited on 23/0912011. Registered charitynumber 1142396. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the charitable company is the re5ponslbility of the Trustees who are elected and co- opted under the terms of the ArtScles of Association. All Trustees give thelr tlme voluntarily and recelve no benefits form the charltable company. Any expense reclalmed from the charitable company is detailed In the accounts. The Trustees have attempted to ensure that the board of Trustees represent as wide a cross section of the, local communlty as pos51ble and. that, the Trustees have approprlate experience to assist the charitzble Company with Sts objectlve5. Traditional buslness skills as well as environment skllls are well represented within.the board of Trustee5. The Trustees 3nd the chairman have worked hard thls year to ensure board meetings and productive and a safe space for everyone to have their voice heard. Names of serving Trustees during the year are disclosed on page I to the financial ststements. ORGANISATIONAL STRUCTURE AND DECISION MAKING Trustee InduCon and tralning Most Trustees are already familiar with the practlcal work of. the charitable company before becoming trustees, New Trustees are familiarised by the Chairman and Operatlons Director on its worklng and the context wlthin which it operates and are given a Trustee Welcome Pack,. The ma5n documents which set out the operatlonal framework for the charltable company Include the Memorandum and Artlcles of Association which are shared at inductlon. In addition, aspirant trustees are required to attend three board meetings to conflrm their williDgness t0 Serve and before a declsion on thèm becomlng a Trustee15 taken by the existing Trustees, if the aspirant trustee Is still wllllng to stand. Page 2
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 Or8anlsatlonal strurturé The Board of Trustees meet regularly (targeted to be around every 6 - 8 weeks) with the Trust's Operations Director and are responsible for the strategic dlrection and policies of the charitable £ompany. Slte visits have Contlnued this year and are a great way for the Trustee5 to see all the fantastic work being rried out on the ground that they normally only get to hear about In meetings. The present 8oard of Trustees currently has members from a varlety of professional backgrounds relevant to the work of the charitable company. The staff team within the charitable company tomprises .the Operations Dlrector plus two assistant Dlrectors Iwho make the Senior Management Team - SMTI and in order to meet the requirement5 of the grant fundlng we have expanded to 31 staff member5 Iri total. Staff turnover remains Incredlbly low which Is an aspect the Trust prides Itself on. There have been only two resi8nations from the team in the The Operations Director Is responsible for ensuring the charitable company delivers the relevant seNices An accordance with the 5trateEic buslness plan of the charitable company and that key performance indicators are met. The Operations Director also ha5 overall line management responsibility foi all staff and day to day responsibillty for the operatSonal management of the charitable company. The SMT 5s responslb1e for ensuring that the rest of the team contlnues to develop their skills and working practices in line wilh good practice and health and safetv. There have been two trustee resignations withln the financlal year and another in September, taking the current total to seven servSng tIUStees. We are currently pursuing two new trustees to take the total to nine. One of whom is a young person who was part of the Trust's Youth Panel but has now turned 18 and wishes to join the board of trustees, the other a farmer, which was recognised ès a gap in experlence in the trustee skllls audlt. Governance The Trustees follow the Charity Commission'5 Good Governance guidelines and the Essential Trustee and carly out regular governance review5 following WCRT'S Governance Action Plan. This £overs Dlversity, Board Effectlveness, Decision Making and Control and. Stakeholder Mapping, to name but a lew of the focus areas. The Yrustee Chatterf WhatsApp group continues to be well used and a more informal way of keèping regular contact or enabling a qultk decision should something urgent come about. The Trustees also communlcate via emall between meetings. Related Partles Insofar as it is complementary to the charit8ble compan¢s objectives. the charitable company Is guided by local and natlonal policy. Page 3
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 Objectlves and A¢tlvities POLICIES AND OBJECTIVES Purpose and alms The charltable company's purposes are set out in the oblects containèd within the charltable company's memorandum and articles of assoclatSon arsd are.. To conserve, protert, rehabllltate and Improve the rivers, streams, water courses and water impoundments which form part of the c3t¢hments of the rivers Calder, Derwent, Ellen, Ehen, Esk (Cumbrian n(>t 8orderl, lrt and Mite and Waver and Wampool, all in Cumbria (including without Ilmitation the following lakes.. Derwent Water, Bassenthwalte Lake, Thlrlmere, Crummock Water, Bultermere, Loweswaler, Ennerdale and Wast Waterl and Including the estuaries of all such rivers and the adjacent estuarine and coastsl areas thereto and to do likewise wlth regard to such other rivers catchments in the geographlcal area currently tonstiluted by the county of Cumbrla b5 determined from time to time by th Trustees for the advancement of envronMental protection or improvement for the benefit of the public. To advance the education of the public with reg3rd to their understanding of river5, rlver corridors and catchments Includlng thelr flora and fauna and also with regard to the nèed for, and the benefits of. conservatlon, protettlon, rehabilitation aiid lrriprovem&nt of aquatic environments. The Trust has 81$0 agreed the followlng mission statement- est Cumbrla Rlvers Trust restores and enhan¢¢s rivers, lakes, estuarles and the surrounding countryslde, for the benefit of both people and wlldllfg" The Trust's objectives and goals as set out in the Strategic.8usiness Plan 'Healthy Rivers For All, which has been renewed for 2023 - 2028. West Cumbria Rlvers Trust has a cruclal role to play in raising awareness and In£asIng Linderstanding of West Cumbria's rSvers and lakes. We do this by conhecting with people locally to make a positive difference to the health of rivers, lakes, people and wildlife and by following the Trust'5 Strategic aims and objectives.. Aiml Improve and protect Ctsnserve, store and enhance rivers and catchments to improve and protect the natural environment. Alm2 Conne¢t, engage and educate Engage stzkeholders and communities to insplre enthusiasm and commitment to deliver positive proactive Change to improvÈ our natural environment. Page 4
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 Alm3 Growth and reslllen¢e Supporting sustalned financial Security that enables our vision by developlng a robL¢St and diverse network of corporate sponsors. donor5 and individual supporters. Aim4 Enhanced reputation Build on our track re¢ord of delivering SuCSSful projects, where stakeholder needs are respected and outputs £learly measured, by being a trusted partner among fundiDg organisations. communities, and businesses. Ensurlngthe work dellvers the alms There are a number of objectlves that slt beneath the aim5 In an operational plan that wlll be reviewed by the Trustees at the AGM. Trustees look at what has been achieved and the outcomes of the work in the previov5 12 month and at the success of each key actlvity and the key benefits they have brought. The review also helps to ensure the aims, objective an<1 activities remain focused ori the stated purposes. Publlc benefit The Trustees have referred to the guidan¢e contalned the Charlty Commi55ion'5 general guidance on public benefit in reviewing the charitable company'5 aim5 and objectives and in plannlng future actlvltles. In particular, the Trustees consider that planned actlvitiès will contribute to thé aims and objectives they have set. The Trustees confirm that public benefit has been provided bythe advanMent of envlronmental protection or Improvement. The focus of thework The main focus of the work during thÈ period contlnued to be conservation, protection, Yehabilitatlon and improv¢menl of the rl'vers within the geographlcal area and a150 education. The strate6ies used tD meet these objectlves included.. Providing a range of environmental services which rellect the issues highli8hted by the Water Frarnework Dlrective to address the problem5 caused by degradation of the aquatlc envlronment Focusing upon improvlng the river catchments wlthin the Trust's area of opeYatlon- not only for individual users but also for the wider community Worklng towards applylng national standards of Servi and delivery wlth regard to the advancement of environmental protectlon and improvement for the benefit of the community Working in partnership with other agencies le.g. the Environment Agency and Natural England) to Secure the widest range of services avallable that best match the neects of the public and the environment. Educating the public and ralslng awareness of environmental issues and the Importance of Page 5
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 the work that the Trust dellvers. Engaglng school chlldren and young people to ensure there are amba55adors for the future. All charitable activities focus around ourmission and oblectives a5 Stated above. Principal fundlng sour¢e5 DEFRA contlnues to be 3 major funder through government bodies includin8 the Environment Agency In the form of charitable grants to undertake work within catchments to dellver the Resilient Glenderamackin Pmject, prattical river restoration piojects, natural flood management INFMI work, engagement with farmers and tree plantin8 SUPPOrt through the Woodlands for Watèr Progr2mme. The Environment Agency a150 continue to fund our Catchment Partnership work. Our focus on ensaglng people with nature continues parti£ularly on the west Coast with fuhding sources contlnLting from The National Lottery Heritage Fund whlch ha5 funded our'A Wilder Walkmill, project and our 'People on the Keekle, project funded by the Sellafleld Six. These projects also contribute to our other charit4ble aims with river restoration prolects embedded within. Unlted UtS1ities is still a majo¥ partner from the business sector, fundlng projects at The Trust which currently require the servlces of three full lime posts to carry out habitst improvement5 and projects to educe diffuse water pollutSon, which a5515t with the delivery of their buslness objectives. The particular emphasls for their work is around the compensatory measures proJect and the critically endangered freshwater pearl mu55els and St. Johns Beck. The last of the fundlng from Europe's Life IP programme for the North West Rlver Basin Mav)agement Plan's 'Natural Course, project funds a pioJect on the River lrt. The Trust has also been successful on again In obtaining money for engaging wlrh farmers from Natural England's"Facilitation Fund" on the Rer Cocker funded by the Rural Payments AgÈncy IRPAI and administered by Natural England. The Woodland Trust continue to be 3 regular and committed funderof trees for our work. The Trust's uMblIa body-The Rivers Trust- has enabled fundlng to come from DEFRA for the Woods for Water project that provides resource to facllitate landowners to apply to the English Woodland Creation Offer IEWCOI a natlonal trRe plantlng grant specifitally to encourage uptake of woodland creation where It benefits the water environment in the Derwent catchment. Thanks to Garfleld Weston who ran a grant £lvlng round speclflcally for the Rivers Trust movement for the funding to work with farmers and Improve rivers In the Waver and Wampool catchments which has just £ome to an end. The Resillent Glenderèmackin project moved on from its NEIRF (Natural Environment Investmeht Readines5 Fund) funding to be Suc$$ful in a hid to Defra's Landscape Recovery programme and contlnues to develop Green Flnancing to support the development of natural environment projects that czn generate revenue from ecosystem servlces and attract repayable investment alongside Landscape Recovery. The project has been galnlng national recognition and support from local and natlonal busine55e5 and partners Pag&6
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 and look5 set to become our largest project to date should the Landscape Recovery application be successful. Other fundrai51ng has been SuC$sful from Natural England's Coast to Coast fund for Invaslve Non Native SpÈcies1SNN51 work around Derwentwater and a Salmon Actlon Plat) for Borrowdale. We have also been developing a suite of Watery Walks wlth tunding from Copeland Community Fund who adminSster the Levelling Up grants. We corbtlnue to stren8then our links wlth the National Trust for our education and outreach work by belng partner on their Species Survival Fund. Thls fund a150 provldes fundinE to £ontinue to run our Rlverfly pro8ramme and Youth Panel. The three year fundin8 from Francis Scott Charltable Trust and Cumbria Community Foundation for stafflng for the Educatlon team wlll run out In 2025. Sm311er grants for our electrofishlng programme have come fram local angling club'contrlbution5 and from our P3tron5 Lord and Lady Egremont. This Derwent catchment-wide fish and habitat assessment provides rucial data on dlstributlons and numbers of fish to Inform the targeting of eonservatlon actions throughout the catchment and demonstrates the impacts of the Trust's Improvement work5. Thi5 year we also embarked on our first Bathin£ Water applicatlon for Derwent Water. Thls w35 funded bv Cumbria Community Foundation. The Jeffrey Bond Memorlal Fund, and the National Trust. Funding was also recelvèd from Cumbria Communlty Foundation for our Youth Panel through the #CanDo Fund which Is awarded by young people for young people. Cumbrla Community Foundation also funded our tria15 in green so¢ial prescribing and Green Gyms through the NHS Green Social Prescriblv¥8 Development Fund. Our Invasive species pro8ramme this year has been funded by FIPL, National Trust, Anglinz Trust, Natural England and United Utilities to undertake this work in partnership with the Environment Agency. Some of the Trusts other projects also contain small amounts of funding for invasive specie5 work. We have also extended our Invasive specie5 work to control mlnk popul3tlons wlth the aim of introducing Water voles In the long temi. This project is funded by the Envlronment Agencie5 WEIF fund. A small part of the charity's funds is given as grants to farmers through projed funding. These grarlts are . vitsl to carry out farm Improvements to reduce the amount of ph05phate enterlng our becks and ¥lvers and are typically for fencing, tree planting and natural flood management work. Achievements and perfoyrnance GOING CONCERN After making appropYi3te enqulrles, the Trustees have a re2sonabl¢ expedation that the company ha5 adequate resources to contlnue in operational existence for the foreseeable futUTe. For this reason, they contlnue to adopt.the Eoirig conrn bas15 for preparin8 the financial statements. Page 7
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 REVIEW OF ACTivmES Natural flood management Four key natural flood management INFMI projects.. the River Cocker catchment ILorton and Cockermouthl, the River Glenderamackin catchment 'lnear Ke5wickl, the River Annas catchment Inear B¢Jotlel, and the Flimby Gills catchn)ent Inear Flimby, Maryportl have been in progress slnce 2018. The Trust works with farmers and landowners In these catchments to deliver measures on the ground that slow the flow of water and have other multiple beneflts, such as water quallty Improvement and habltat ieation, whilst contributing to the natlonal evidence base for NFM through a focus on monitorlng. To this end, we are working with Lancaster University and other researchers to ensure the monltorlng we undertake feeds into other natural flood management research and addresses these gaps. Most works were completed in 2021-22, but dlte to the resounding success, further funding has been sought from the EA and the Lake Distrlct National Parks Farmlng in Protected Landscapes IFIPII for the continuatlon of most of these projects. Following the prevlous Catchment-wide NFM project where the Trust worked wlth farmers, landowners and the local communlty in the Annas Catchment to reduce flood risk to the village of Bootle through natural flood management measures, the Trust continue5 to work with the local commur)ity on their Community Woodland project, funded through the GDF Community Investment Fund. A small level of delivery of inteyventlons to reduce the risk of floodln& and monltoring is ongolng thmugh various mechanisms. Our natural flood m3nagement project in the River Cocker catchment Is complemented by the Cocker Catchment Facilitated Fam)er5 Group. Funding from the Rural Payments Agency IRPAI, admlnistered by Natural England, supports the hostin8 af a farmer5, groupi and delivery of several events to share learnin8 and knowledge and encoura8e greater collaboratlon in the catchment on outcomes within agri- environment schemes. This is runnlng very successfully, with more and more farmers joining the group and a successful programme of events. Catchment partnershlps The Trust was a150 successful once agaln In securin8 fundlng from the Envlronment Agency to continue our Catchment Partnershlp hosting role for throe water management catchments withln Cumbria. The atchments are combined to form one p3rtnership- the West Cumbria Catchment Partnership - organised and chaired by the Trust, which meets quarterly. The partnership has developed and oversees the West Cumbria Catchment Action Plan., which Is avallable through a dedicated webslte. There are a humber of worklng groups under thls partnership which address speclfic areas and issues, some of whlch are also hosted by our officers, 3nd others by our partner organi5ations. The partnershlp is worklng tO8ether to tackle some key waterand catchment Sssues Wlth multlple benefit approaches. PagÈ 8
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 Worklng w5th endanBered spècles The Trust has continued to work with Unlted Utillties on the Compensatory Measures pa¢kage for the River Ehen and River Irt to protect the rarest species on our patch- the Freshwater Pearl Mussel. The sucsSful restocklnÉ of hatchery reared juvetsile musse15 In the River lrt has led to evidence of the population rep.rodLJclng for the lirsttlme since 2010. Rlver restoratlo Funded by the Environment A8ency and Natural England, the overall alm of the rlver restoration project is to restore watercourses In the SSSI sectlon of the Derwent tatchment In line wlth the Water Framework Dlrective and the SACISSSI Site Improvement Plan. Since 2022 the scope has expanded to include areas outside the sssl boundarles lon a case by case baslsl. Current projects include the Dubwath. Betk restoratlon, Branthwaite weir fish easement, Low-Rlsk Barrler Rèmoval prolect, River Ellen barrier removal scheme and Deent Tributaries restoration. Wator quallty Funding lor the Waver and Wampool catchments through the EA'S WEIF funding and new funding through WRAP IThe Waste and Resources Actlom Programmel, wlll have a multitude of benefits including improving freshwater habitats and fish spawning grounds resulting In increased populatlon5 of flsh 2nd invertebrates. Preventlng livestork acce5S to the watercourses will also 311ow natlve plants to colonlse, stabilising the riverbanks and over time Improve channel morphology. Fundlng from Unlted Utilltl¢s'Better Rivers Belter North West, funds farmer group meeting5. The Loweswater Care Programme almed to improve the water quality of .Lowe5water through Improvements in farming practice5, land restoration and treatment of lake water5. The maln LCP project funded by OEFRA'S Catchment Restoration Fund ICRFI, was completed in 2015, but the Trust 15 Still involved in monltoring of the Lake through funding from the Natlonal Trust (the lake's owners). Invaslve 5pecles control The aim of thSs prolert Is two-fold, both to control invasive species already present and to prevent new Invasive specles entering catchments through education and engagement work. Fundlng ha5 been recelved from FIPL, N3fional Trust, Angling Trust, Natural England and United Utilities to undeTtake this work in . partnership wlth the Environment Agency. Some other projects also contsin small amounts of fundlng for invasive species work. Flsh surveys ThSs yearthe Trust h3s also continued its electrofishing programme wlth fundlng from the Natur31 England5 Caast to Coast fund, along with re¢elving donations from local angling clubs and fishery owners to mplete a diverse programme of surveys on the River Derwent and its tributarles. This will inform the need for habitat improvements along the Denent catchment and leads into 3 yearly programme of surveys of sclentificdxta for the Trt and partnei organisatlgns. Page9
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. ANNUAL REPORT YEAR ENDED 31 March 2024 Educatlon, outreach and volunteering The Trust now has an education team d4Je to Its success In delivering the 'Wild About Rlvers, programme and Forest Schoo15 sessions. The Learning and Engagement team continues to dèvelop our assoclation wlth schools 2nd all se¢tloh5 of the communlty in West'cumbria. All the 5tsff have completed Forest Schools tralnlng which has been immensely popular with schools and communities. The team also runs family events and activities to encourage people to get back to nature. Secondary school students have also been designing their own 'leaky dams, to then build them in the catchments to help slow the flow of water. The Trust £ontinues to run Its monthly conselvation days whlch has galned some committed and dedlcated volunteers. The use of the volunteer platform 'Better Impact, means that volunteers are well organised nd managed. The Trust continues to run Its intern programme, with students from Lancaster Universlty gaining vital skills for employment over the summer. The people on the Keekle project contlnues to engage peoplè with nature at Longlands Lake and now due to continued fundin8 from the Sellafleld SIX has been extended to Snclude Mirehouse Ponds lon the outskirts of Whitehavenl. Nearby schools will also cre3te thelr own nature areas as part of the new GreenerGrounds scheme whlch is linked io the Nature Park5 In a schools Jational Ihitiatlve. The Trust has also starled its first apprenticeship scheme, funded through the Natlonal Loitery Heritage Fund as part of the A Wllder Walkmill project with 4 youn8 people working towards the Countryside Worker qualification. Commerclal work The Trust has also been dellvering involced consultancy work forcontra¢tors and consultants to dellver fish roscues, electro-flshlng and walkover surveys and is investlgating ways to officially start a consultancy arm. INVESTMENT POLICY AND PERFORMANCE .. A51de from retalnlng a prudent amount In reserve5 each year, most of the charitable £ompany'5 funds are restricted fund to be spent in the short term on specific projects and so there are few funds available for . lung term Investment. Tg take advantage of the current high interest rates the Trustees have decided to put some funds Into short to medium term hiÈher interest accounts with our current bankers. The Trustees have developed an Investment policy to reflect these actions. FINANCIAL REVIEW The results for the year ended 31st March 2024 show a net m¢Jvement of funds of £136,346 12023.. £205,224). This breaks down into a net movement of If9,4771 deficit 12023.. £6,12S Surplus) on unrestricted funds and a £145,823 surplus12023: £199,099 surplus) on restricted funds. The restrScted fund5 surplus represents funds ¥eceived for ongoing projects that will be spent in 2024-25. The unrestricted funds are held in accordance with our Reserves Policy. Page 10
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. ANNUAL REPORT YEAR ENDED 31 March 2024 Fundlng for our varlous projects contlnues to see a 8rowinÉ trend enabling the completion of more work each year. The number of projects c¢)ntinLtes to grow with 35 thls ¥ear12023.. 291. There has also been a growth in staff numbers, 25 12023.. 171 to deliver these projects, this growth contlnues into the current year and sees us now employln8 31 members of Staff. Our net assets are £1,283,15212023: £1,146,8(NS1 with net current assets at £1,213,20612023: £1,086,183). The increase year on year reflects 2n increase In our bank balance of some £52,000 and a reductioh In creditors of £59.000 arbd an increase in debtors & grants due of £16,000. Thls year we have decided to take some fund5 Out of our unrèstrlcted pot to produ a new website to showcase all our fantastic work ond drive our reach further. We have also rebranded our logo which we are Jjsing on all new publication5 and purchases. The webslte is now Ilve and we are already reapin8 the benefits wlth some extra donatlon5 and greater website trafflc. The Trust continues to go from strength to strengih Increaslng the reach and variety of work into all areas of the catchments under our remit. Since the year ènd. we have also had confirmation of fundlng, from WRAP, UK Shared Prosperity Fund, National Trust Ithrough thelr species survival fund) and Potato Pot WSndfarm Fund and were stlll awaiting the outcome of two bids submitted to the Environment Improvement Fund. PRINCIPALRISKS AND UNceRTAINITIES The Trustees conduct a regular revlew of the major risks to which the charitable company is exposed through its Rlsk Régister. Where appropriate, Syste or procedures have been established to mitigate the rlsks the Trust faces. PrOdre$ are in place to ensure compliance wlth health and safety of staff and wolunteers and Croners have been commissloned to adv15e on all our health and safety needs, alongslde our HR requlrements. The Trust carries appropriate employers, and publlc liability insurance as well as professional indemnity Insurance at an appropriate level and directors and officer's Insuran. PAY POLICY FOR SENIOR STAFF The Board of Dlrectors, who are the Trustees of The Trust. and the Trust's Operations Dlrector and two Assistant Dlre¢tors comprise the key management personnel of the charity In charge of directing and ¢ontrollin& running and operating the Trust on a day-to-day basls. All Trustees give thèir time freely and no Trustees received remuneration in the year. We have ievlewed The Trust5 pay policy and devised updated Personal Development Revlews Dn which pay is automatically increased to the next scalÈ in line with the Rivers Trust pay scale5 and the averaBe Inflation, provlded the charity has sufficlent funds to do so. Page11
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 RESERVES POUCY The Trustee5 have examined the Trust's requiremènts for reserve5 in light of the maln rlsks to the organisation. The Trustees consider that the practises adopted by the Board and the Senior Management Team In planning and evaluating onÉolng operatlonal and flnancial performance are approprlate for monbtoring and maintalnlng the ReseNes Pnlicy. The Trust has a comparatively low level of unrestrlcted fund5 as most of the funds It recelves are to be spent on specific prolects. Unrestricted funds at 31 March 2024 were £167,20512023.' .£176,6821 and Restricted funds were £1,115,94712023 - £970,124) total reserves are £1,146,80612022 - £941,582. The strateEy of The Trust Is to build our unrestricted funds undertaklr)g an increaslng amount 4Jf consultancy work tctr fund these increasing cost5 and to grow our unrestricted funds, Unrestricted reserves comprI5e an amount of funds sufficient to cover thÈ salary costs of st3ff for the short term in the event that The Trust is not able to secure adequate funding to keep all stsff fully employed. The amount 15 calculated based on the turnover of The Trust, the likelihood of part of The Trusts funding not belng forthcoming and the costs of wages and 3ttributed overhead that mlght attach to such an event. The Trust also recognises that in any year there may be an excess of gèneral overhead costs not Vered by unrestrlcted income and an •mount is also set aside to cover this eventuallty. In both Instances a method to ¢3lculate the amount of funds needed for the Current and future years Is Used and the 3mount is reviewed annually. For 2023134 The Trust estimates that in any one'year ah amount between £130-£150,000 should be adequate to cover this and that the unrestrlcted reserve5 held of £167,000 are acceptable. Plans for the future FLITURE DEVELOPMENTS The Trust wlll contlnue to expand on the projects already in operation where feasible and continue to look for new opportunitle5 to undertake our charltable work sn area5 of our catchments vjhere we currently have very Ilttle activity, such as the Rivers Marron, Ellen, Esk and Mlte. In addltion, the Trust continues to develop its role as Catchment Host and a yearly meeting now takes place across the three rfver5 trusts, The Trust anticipates a signlficant level of funding will contlnue to come from DEFRA and government bodies in the forthcomlng year, although is aware with current government funding cut5 this m3y not be long term 5UStainahle ènd viable option. Efforts will be made to seek alternative fundlng, linked to speciflc river improvement project5, natural flood management, education and community engagement and Green Flnancing. The Trust will also be looklng for new sources of finance thmugh Blodiversity Net Galn IBNGI and Nutrient Neutrality. Page 12
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 All eyes are on The Resillent Glenderamackin project which is developing a model to link investors, buyers arid sellers of ecosy51em service5 to reduce Ilood risk restore nature and mitiE2te agaln5t climate change In the Glenderamackin catchment. If thls large scale and ambitious catchment prolert is successful, It will leverage aroijnd £30milllon in capltal and revenue over 20 years. The work has been supported through DEFRA'S Natural Environment Investment Readiness Fund INEIRFI to date and has now transitioned to Landscape Recovery round 2 pilgt project, which is currently In the development phase. Should the development phase be successful the long-term implementation agreement wlll sit with a special purpose vehicle Isuch as a Community Interest Company ICICII which would contrart The Trust to ijndertake significant input to this project over the'next 20 years. The Trust has found recruitlng stslf this year a little easler but hope5 that its apprentlteship scheme will also provide the workforce for the future. TRUSTEES'RESP.ONSIBILITIESSTATEMENT The Trustees (who are also directors of West Cumbrla River5 Trust Llmited for the purposes of companv lawl are responsible for preparin8 the Trustees, Report and the financial statement5 in accordance with applicable law and United Klngdom Accounting Standards (United Kingdom GenerallyAccepted AccountlnE prarti1. Campany law requires the Trustees to prepare flnancial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that thèv give a true and falr view of the State of affairs of the charltable company ind of the incoming re50urtes and appllcation of resources, includlng the income and expenditure, of the charitable company for that period. In preparing these financlal statements, theTrustees are requiredto.. select sultable accountlng policie5 and then applythem consistently,. observe the methods and principles in the Charities SORP,. make judgements and accounting estimates that are reasonable and prudent,. state whether oppllcable UK Accounting Standards have been followed, subject to any material departures disc105ed and explalned In the financial statements,. prepare the financlal statements on the going concern basis unless it is Inappropriate to presume that the charitable company will continue In operation. The Trusteés are responslble for keepin6 adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose wlth reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply wlth the Companies Act 2(KJ6. They are also responsible for safeguarding the assets of the charitable £ompany and hence for taking reasonable step5 for the prevention and detection of fraud.ar irregularltles. Page13
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 March 2024 Each of the persons who is a Trustee at the d3te of approval of this report confirms that: so far a5 they are aware, there is no relevant audit informatlon of whlch the charlty's auditor Is unaware: and they have taken a115teps that they OLFght to have taken 3$ a Trustee to make them6elves aware of any relevant audit Informatlon and to establish that the charity's auditor Is aware of that information. The auditor15 deemed to havè been re-appointed in aGcordance with section 487 of the Companies Att 2006. In preparing this report, the Trustees have taken advantage of the small companies exemptlons provided by section 415A of the Companies Act 2006. Thls report was approved by the Trustees, on 9th December 2024 and 568ned on thebr behalf by: Trlsha Dunlop Trustee
WEST CUMBRIA RIVERS TRUST LIMITED . COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES, OF WEST CUMBRIA RIVERS TRUST LIMITED YEAR ENDED 31 March 2024 OPINION We have audited the financial statements of West Cumbria Rivers Trust Limited Ithe 'charity'l for the year ended 31 March 2024 whlch comprise the statement of financlal activitie5 Ilncluding Income and expenditure account), balance sheet, cash flow statement and the related notes, including a summary of significant accounting polities. The financial reporting framework that has been applled in thelr preparation is applicable law and United Kingdom Accounting Standards, Including FRS 102 The Financial Reportlng Standard applicable in the UK and Republic of Ireland IUnSted Kingdom Generally Accepted Accounting Pra¢tlcel. In our opinion the linancial statements.. give a true and falr view of the State of the charlty's affalrs as at 31 March 2024 and of its Incomlng resources 3hd applicatlon of resources, including its Income and expenditure, for the year then have been properly prepared in accordance wlth Unlted Kingdom Generally Accepted Accounting Practlce- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. BASIS FOR OPINION We conducted our audlt In accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our respoDsibillties under those standards are further described. In the euditor's responsibilltles for the audit of the flnancial statements section of our report. We are Independent of the tharity in accordance wlth the ethical requirements that sre relevant to our audit of the financial statements In the UK, including the FRCS Ethlcal Standard, and we have fulfilled our other ethical respon51bilities in accordance with these rÈquirement5. We believe that the audit evidence we have obtalned is suffltlent and èppropriatÈ to provide a bas15 for ouropinlon. CONCLUSIQNS RELATING TO GOING CONCERN In auditing the flnancial statements, we have concluded that the Trustees, use Df the going concern basls of accounting in the preparation of the financial statement5 Is appropriate. Based on th¢ WDrk we have performed, we have not Identified any material uncertaintie5 relatlng to events or conditions that, indivldually or collectivelyi may cast significant (Joubt on the Charity's ab15ity to continue as a golng concern for a perlod of at least twelve months from when the financlal ststement5 are authorlsed for issue. Page 15
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES,. OF WEST CUMBRIA RIVERS TRUST LIMITED YEAR ENDED 31 March 2024 Our responsibilitie5 and the rÈsponsibilltie5 of the Trustees with respect to goirjg concern are described in the relevant sections of this report. OTHER INFORMATION The other it)fomiation comprises the Informat5on Included In the annual report, othei than the flnanclal statements and our auditoW5 report thereon. The Trustees arÉ responsible for the other information. Our opinion on the financial statements does not cover the other Information and, except to the extent otherwise explicitly stated in our report, we do not exprÈss any furm of assurance conclusion thereon. In connection with our audit of thÈ financial staternents, our responsibility is to read the other information and, In dolng so, consider whether the other information Is materially Inconsistent with the financi31 statements or our knowledge obtsined in the audit or otherwise appears to be materially misstated. If we identify such materlal Inconsistencies OT apparent material misstatements, we are requlred to determine whether there is a material misstatement in the financial statemÈnts or 3 material misstatement of the other informatlon. If, based on the work WÈ have performed, we conclude that there is a material misstatement of this other informatlon, we are requlred to report that fa¢t. We have nothing to report In this regard. mAER5 ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the fgllowing matters in relatlon to which the Charities Act 2011 requlres us to report to you if, in our oplnlon.. the Informatlon given In the Trustees, report is Inconslstent in any materlal respect wlth the financial statement5,' or sufficient Jccountlng records have not been kept,. or the flnancial Statements are not in agreement with the accountlng records and returns,. or we have Vbot received all the information and explanations we require for our audit. RESPONSIBILITIES OF TRUSTEES As explalned more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors for the purposes of company lawl are responslble for the preparation of the financlal statements and tor belng satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of flnanclal statements that are free from materlal misstatemenL whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity'5 ability to continue as a golng concern, dlsclosln8, as appllcable, matters related to going concern and using the going Page 16
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES, OF WEST CUMBRIA RIVERS TRUST LIMITED YEAR ENDED 31 March 2024 concern basi5 Qf accounting ynles5 the Trustees elther intend to liquldate the charity 01 to cease operations, or have no realistic alternative bul to do so. AUDITOR'5 RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appolnted as auditor under sectlon 144 of the Charitles Act 2011 and report in accordan with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are free from material mlsstatement, whether due to fraud or error, and to issue an auditorf5 report that Includes our opinion. Reasonable assurance is x high level of assurance, but is not a gLJarantee that an audit conducted in accordance wlth ISAS IUKI wlll always detect a material mlsstatement when it eKlsts. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expectèd to Influence the economic declslons nf users taken on the basis of these financial statements. Irregularities, including fraud, are instance5 of non-compliance with laws and regulations. We design procedure5 In line with our responsibilitie5, Outlined above, to detect material mlsstatements in respect of irregularities, inGluding fraud. The extent to whlch the audlt was consldéred capable of dete¢tlng Irregularltles Intludlng fraud Our approach to identifying and assesslng the risks of materlal misstatement In respect of Irregularities, In¢luding fraud and non-corripliancÈ with law5 and regulations, was as follows: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabillties and skills to identify or recogni5e non-compllance with appll£able laws and regulation5,' we identlfied the laws and regulations applicable to the charity through dis¢Ltssions with Trustees and other m2n3Bement,. we focused ori specific laws and regulatSgn5 which we ¢on5idered may have a direct materlal effect on the flnancial Statements or the operatlon5 of the charity; we assessèd the extent of compliance with the laws and reEulations identified above through making enqulries of management and inspecting legal correspondence,. and Identified laws and re8ulations were communlcated withln the audit team regularly and thè team remained alert to instsn¢es of non-compliance throughout the audit. Page 17
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES, OF WEST CUMBRIA RIVERS TRUST LIMITED YEAR ENDED 31 March 2024 We assessed the susceptibility of the charlty's financlal statements to material misstatement, Including obtaining ah under5tsndinÉ of how fraud might occur, by: making enquiries of management as to where they considered there was susceptlbilily to fraud, their knowledge of actual, suspected and alleged fraud,. To address the risk of fraud through management bias and overrlde of controls, we.. performed analytical procedures to Identify any unusual or unexpected relationshlps,. tested journal entries to identlfy unusual transactions,. assessed whether judgements and assumptlons made in determining the accounting estlmates set out In the accountinB pollcies were indicative of potential blas,. and Investigated the rationale behlnd signlflcant or unusual transactions. In response to the risk of Irregularities and non-compliance with laws and regulatlons, we designed procedures which Included, but were hot limlted to.. agrèelng financial statement dlsclosures to underlying supporting documentation,. readlng the minutes of mÈetSngs of those charged with governance. enqulrlng of management as to actual and potential litigation and clalms,. and reviewlng correspondence wilh the Charity Commlssion. There are inherent limitatlon5 In our audlt procedvre5 descrlbed above. The more removed that laws and regulations are from financial transactions, the less Ilkely it Is that_we would become aware of non- tompliance. Auditing standards also Ilinit the audit procedures required to Identlfy non-complian with laws and regulations to enquiry of the TrusteÈs Hnd other management and the inspection of regulatory and legal correspondence, If anv. Material misstatements that arise to fraud can be harder to detett than those that arise from error as they may Involve dellberate concealment or collusion. A further description of our responsibllities for the audlt of the flnancial statements. Is IocHted on the Financlal Reporting Council's website at www.frc.org.uk/audltorsresponsibilitSes. Thls descriptlon forms part of ourauditor's report. Page 18
..WEST CUMBRIA RIVERS T.RUST LIMITED COMPANY LIMITED BY.GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES, OF . WEST CUMBRIA RIVERS TRUST LIMITED. . YEAR ENDED 31 MarGh 2024 USEOFOIJRREPORT .This report Is made solely to.the charity's Trusteo5, as.a.bod¥, In.accordance with Section. 144 of the . Charitles Act 2011 and re8ulations made under sectlon 154 of that "Act. Our audit work has been undertakenso that we might state to the charlty's Trustees those matters we are requlred to state to them an auditor's report and'for no other purpose, To the lulle5t extent permitted by law, we do not accept or assume responslbillty to enyone other than the charity and the (harlty's Truste¢s as a.btsdy, forpur audlt ". work, for this report, or forthe oplnion5 we have formed. . ' Saint & Co is eliglble to act as an 3Ltdltor In terms of seG¢lon 1212 of the ¢ompanles Act 2006. .'Sohnt & Co. ."Chartered Accountants & statutory auditor 'steding House Wavell DTlve,""Rosehlll': Carlisle. Cumbrla
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 March 2024 Unr•strlcted Funds Restrlcted Funds Total Funds 2024 Total Funds 2023 Note INCOME oonaln$ Income from charitable aclivilies Income from other trading activ1 Bank Interest 8,579 6,700 1.337,829 15,279 1,337.829 58,846 9.930 20,245 1,681,317 58,846 9,930 TOTAL INCOME 77,355 1,344 529 1421,884 1.718,575 EXPENDITURE Expenditure on raising funds Expenditure on charitab18 aclivilies 150 1,198,706 1,281,257 1,516,428 TOTAL EXPENDITURE 1198.706 1.281,407 1.516 428 NET INCOMEIIEXPENDITUREI FOR THE YEAR BEFORE TRANSFERS 15,3461 145,823 140,477 202.147 Translers beiween funds Other Recognised GalnsllLosse$l Foreign exchange Ilossll galn 14,1311 14,1311 3,OTI NET MOVEMENT IN FUNDS 19,4771 145,823 126,346 205,224 Total funds brought loard 176,682 970,124 1,146,806 941,582 TOTAL FUNDS CARRIED FORWARD 15 167,205 1,115,947 1,283,152 1,146.806 The notes on pages 23 to 47 form part of these flnancial statements. Page 20
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE - 07019413 BALANCE SHEET YEAR ENDED 31 March 2024 2024 2023 Note FIXED ASSETS Tanglbl8 8ssels 12 69,946 60,623 CURRENT ASSETS . Debtors Cash al bank 43 594,295 768,498 1,362,793 149 587 579,145 716 763 1,295,908 209,725 CREDITORS.. Amounts falllng duo wlthin one yoar TOTAL ASSETS LESS CURRENT LIABILITIES 1,213,206 1,086,183 NET ASSETS 1,283,152 1,146,806 THE FUNDS OF THE CHARITY RestrlGted Funds Unreslrictgd Funds 15 15 1,115,947 167,205 970.124 176,682 , TOTAL CHARITY FUNDS 1,283.152 1,146,806 The Company is entitled to the exemptlon from the audit requirement contained in sectlon 477 of the Companie5 Act 2006, for the yearendèd 31 March 2024, although an audlt has been carried out under section 144 of the Charltles Act 2011. The dirèctors acknowledge thelr responsibllStles for complylng with the requirements of the Companies Act 2006 wlth respecl to accounting records and the prep3ratiot) of financial statements. The members have not required the company to obtaln an audlt of its financlal ststements underthe. requirements of the Companles Act 21J)6, forthe yearln question In accordance wlth sectlon 476. These financial statements have been prepared In accordance wlth the pmvisions applicable to companles subject to the small companies regime. These linancial statement5 were approved by the Trustees on 9th December 2024 and are 5i£ned on thelr behalf bv: . Trisha Dunlop. Trustee The notes on pages 23 to 47 form part of these financial statements. Page 21
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE CASH FLOW STATEMENTS YEAR ENDED 31 March 2024 Total. Funds 2024 Total Funds '. 2023 Note Ca$h flows from oporatlng actlvltles: Nel cash provlded by operating 2cliwlies 19 93,954 345.587 Cash flows from Inv8Stlng actlvltles: Procegds from the sale of vehicles Purchasè of tangiblo flxed asso18 hlot cash provided by (used In) investlng actlvltl8S 38.088 38.088 Cash flows from financing actlvllles: Government grant incom@ Net payments from flnance le88es HP Interest paid R8paym¢nt of borrowlngs Ngt cash provided by flnanclng activltles 512 12,8321 62,000 64,694 Chang& In cash and cash 8quivalenls in the year Change in cash and cash equwalenk du8 to exchange rate movemènt Cash and cash equlvalenls St the beglnnlng of the year 55,866 14.131} 716,763 2fj7.312 3,077 446,374 Cash and cash aquivalents at th& end of the year 768,498 716,763 Page 22
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 I. ACCOUNTING POLICIES Ba515 of preparatlon of flnanclal st4tements The financlal ststements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable to charltles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 102 leffectlve l January 20191- (Charities SORP IFRS 10211, the Financial Reportirbg Standard appllcable In the UK and Republic of Ifeland IFRS 10212nd the Companies Act 2006. The financial statement5 are prepared In sterling, whlch15 the functlonal currency of the charlty. West Cumbri2 Rivers Trust meets the definltion of a publlc benefit entlty under FRS 102. Assets and liabilltles are initially recognised at historical cost or transaction valve unless Otherwise stated In the relevant accounting policy note. The Trustees conslder that there are no material uncertaSntles about the Trjjst's ablllty to continue a5 a golng concern. Company status The rharitable company is a company. Ilmlted by guarantee re8i5tered in England and Wale5 and registered charlty in England and Wales. The members of the ¢harStable company are the Trustees named on page l. In the event of the charitable company being wound up, the liability in respect of the guarantee Is limited to £1 per membèr of the charitable company. L3 Judgements and key sources of estimatlon uncertalnty The preparation of the financial statements reqLslres management to make ludgements, estlmate5 and 3ssumptlons that affect the amounts reporled. These esti¥nates and judgements arÈ continually reviewed and are based on experience and other factors, includlng expectations of future events that are belleved to be reasonable under the circumstancés. SlgnifKantludgements The Trustees consider there were no significant judgements made in preparing the financial statements, Key sources of e5tlmatlon uncertalntv Accounting estlmates and assumption5 are made concerning the future and, by their nature, will rarely equal the related actual outcome. The Trustee5 consider there are no key sources of e5tlm3tion uncertaintv. Page 23
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 I. ACCOUNTING POLICIES Icontlnued) Fund accountlng General funds are unrestricted fund5 which are available for use at the discretion of the TrustÈe5 in furtherance of the general objectlves of the Trust and which have not been de518nated for other purposes. .DesiEnated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fynd is set out In the notes to the financial ststements. Restrlrted funds are fvnds which are to be used In accordance with Specific restrictlons imposed by donor5 or which have been raised by the Trust for specifi¢ purpose5. The costs of raising and admlnlstrating such funds are charged to the speclfic fund. The aim and use of each restricted fund Is set out In the notèg to the financial statements, Investment income, g3Ins and losses are allocated to the appropriate fund. 1.5 Incomlng resources All incoming resources are intluded in the statement of finan¢lal activities when the Trust has entitlement to the funds, certalnty of receipt and the amount can be measured with sufficient reliability. For legacies, entitlement is the earlier of the Trust being notified of an impending distrlbutlon or the le£acy belng received. Income from donations or grants 15 reco£nlsed when there is evidence Df entitlement to the gift, receipt Is probable and its amount can be measured reliably. Inctsme from donated goods is measured at the fair value of the goods unless this Is Smpractlcal to measure reliably, In which case the value Is derived from the c05t to the donor or the estlmated resale value. Donated f3¢ilities and 5ervice5 are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Income tax recoverable in relation to investment income is recognised at the tlme the irbve5tment ncome is received. Other Income is recognised in the period in which it Is receivable and to the extent the goods have been provided or on Eompletion of the service. Page 24
WEST CUMBRIA RIVERS TRUST LIMITED . COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 I. ACCOUNTINfj POLICIES (contlnuedj 1.6 Resources eMpendÈd Expenditure is Accounted for on an accruals ba5[5 and has been Included under expenses categories that aggregate all costs lor allocatitsn to activltles. Where costs Lannot be directly attributed to ' particular activitie5, they have been allocated on a basis consistent with the use of the resources. Support C05t5 are those c05t5 Incurred directly in support of expenditure on the objects of the Trust. Governar)ce cost5 are those Incurred In connection with the admlnistratlon of the Trust and compliance with constitutional and statutory requirements. All resource5 expended are inclusive of irrecoverable VAT. 1.7 FtKed a55ets Tangible fixed assets are stated at C05t less depreciatlon. Depreciation is provided at rates calculated to write off the cost of fixed assets, les5 their estimaled residual value, over thelr expected useful lives on the following basi5: Plant and machinery Office Equipment Motorvehicles Assets under £1,000 are not capitalised. 20% straight line 20% straight line 5tralBht line over 4 years 1.8 Debtors and prepayments Trade and other debtors are recogni5ed at the 5ettleinent amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Credltors and provlslons Creditors and provisions are recognised where the ¢harity has a present obligation regulting from past event that wlll probably result In the transfer of fund5 to a third party and the amount due to settle the obligation can be measured or eltimated reliably. Creditors and provisions are normally recognised at their settlement amount after 311owin8 for any trade discounts due 1.10 Nnanclal instruments A financlal asset or a financlal liabillty Is recognised only when the entity becomes a party to the contractual provlsions of thÈ instrument. Page 25
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 I. ACCOUNTING POLICIES {¢ontlnuedJ Ba51c financial instruments are initially recognlsed at the amount receivable or payable including any related transactlon costs, unless the arrangement constitutes a financing transactlon, where it is recognised at the present value of the future payments discounted at 3 market rate of interest for a simllar debt instrument. Current a55ets and current liabilities are subsequently measured at the cash or other conslderatiDn expected to be paid Dr received and not discounted. Debt instruments are subsequently measured At amortised cost. Financlal assets that are measured at C05t or arnortlsed cost 2re reviewed for objective evidence of Impairment at the end of each reporting date. If there is objective evidence of Impairment, an impairment loss is recognised under the appropriate heading in the statement of financlal 4ctivities In whlch the initlal gain was recogni5ed. 1.11 Taxatlon The Trl Is considered to pass the tests set out in Para8raph I Schedule 6 of the Flnance Act 2010 and therefore It meets the deflnition of a charitable company for UK corporation tax purposes. A¢cordinglyi the Trust is potentlally exempt from taxation In respect of income or ¢apltal gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 Df the Taxation of Chargeable Gains Act 1992, to the extent that such intome or galns applied exclusniely to haritable purposes. 1.12 Govemment Gram5 Government gr8nt5 are recognised at the fair value of the asset received or receivable. Grants are not recognised until there Is reasonable assurance that the charlty will comply with the conditlons attaching to them and the grants will be recelved. Where the Erant does not impose specified future performante-related conditions on the recipient, it Is recognised in Sncome when the grant proceeds 3re received or receivable. Where the grant does imp05e specified future performance-related conditions on the recipient, it Is recogni5ed in In¢ome only when the performan related conditlon5 have been met. Where grants received are prior to 5atlsfying the revenue recognition crlteria, they are recoÈni5ed as a Ilabllity. 1..13 Publlc BÈne15t Entlty Concesslonary Loans Public benefit entlty £oncessionary loans shall initially be measured at the amount received and recognised In the statement of financial positlon. In subsequent years, the rarrying amount of conce55ionary loan5 in the financial statements shall be adjusted to reflect any accrued interest payable. Page 26
WEST CUMBRIA RIVERS TRUST LIMITED . COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 2. VOLUNTARY INCOME- CURRENTYEAR Unmstrlcled Re5trtcted Funds Funds. Total Funds 2024 Donations River Gwer donatlons 6.700 15,037 242 15,279 242 8,579 6,70Q VOLUNTARY INCOME- PRIOR YEAR Unrestrl¢lèd Restrlct8d Funds Funds Totsl . Funds . 2023 Donatlons Covid Rales Granl River Glver thnations 10.605 512 130 11,247 8,998 19,603 512 130 20.245 8,998 3. INCOME FROM CHARITABLE ACTIVITIES TOTAL- CURRENT YEAR iJnrestrf¢t¢d Funds Réstrl¢ted Funds Total Funds. 2024. River Prolects 1.337,829 1,337.829 TOTAL- PRIOR YEAR UhrestrSct&d Restrlettrd Fund$ Funds Total Funds 2023 Rlv8r Prol8Cts 1.681 317 1.681,317 Page 27
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 INCOME FROM OTHER TRADING ACTIVITIES- CURRENT YEAR Unrestricted Funds Rèstrlcted Funds Total Funds 2024 Fund Raising Actimties Manag8menl & Contr8cl Fee Incom8 902 902 58,846 58.846 INCOME FROM OTHER TRADING AcfiviTIES- PRIOR YEAR . Unr8Strlcted Funds Rè8trlcted Funds Totsl Funds 2023 Fund Ralslng Actiiilles Managem8nt & Contract Fe8 Income 898 16,115 17,013 898 16.115 17,Q13 Page28
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE .NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 GRANT FUNDERS- CURRftENT YEAR Unrestrlcted Funds Restricted Funds Total Funds 2024 Cumbrla Communlty Foundation Cumberland Councll Cumbria Youth Alliance Environment Agency Esmee Fairburn FIPL Lake Distrlct Nat Park Forestry Commission Francis Scott Heritage Lottery Fund LlfelP Natural England National Trust NEIRF Environment Agency Se113field Small Grants The Rivers Trust UK Centre for Ecology & Hydrology United Utilities Voluntary Actlon Cumbria W4W WEIFF Wt Lakes CIC 16,179 8,500 400 314,241 40,977 154,001 2,800 11,500 178,099 28,040 102,162 33.120 23,364 154,549 2,530 17,000 4,156 204,983 1,250 18,578 20,000 1,400 1,337.829 16,179 8,500 400 314,241 40,977 154,001 2.800 11,500 178,099 28,040 102,162 33,120 23,364 154,549 2,530 17,000 4,156 204,983 1,250 18,578 20,000 1,400 1,337,829 Page 29
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 GRANT FUNDERS-PRIOR YEAR Unrestrltted Funds Restricted Funds Total Funds 2023 Angling Trust Bootle Parlsh Councll Copel3nd Partnershlp Cumbr13 Communlty Foundètlon Cumbrla County Council Cumbria Youth Alllance Environment Agency EA- Water Environment Grant Francis C Scott FIPL Laké DistrSct Nat Park Forestry Commission Garfield Weston Heritage Lottery Fund Lake District Foundation LifelP Natural Course Natural England National Trust NEIRF Environment Agency . NEIRF Natural Capital Potatoe Pot Sellafleld Small Grants The Rlvers Trust United Utilitie5. W4W WEIFF 5,000 14,391 ' 9,983 5.000 14.391 9,983 7,400 21,720 500 313,000 212,000 13,200 111,137 9,164 50,LNX) 111,574 5,000 37 23,061 21.720 500 313,000 212.000 111,137 9.164. 50,C(10 111,574 5,000 37 23,061 31,237 92,917 92,917 6,501 6,501 8,843 199,999 1,378 8,000 260,386 18,002 64,042 2,500 6,630 1,681,317 199,999 1,378 8.000 260,386 18,(K)2 64,042 2,500 6,630 1,681,317 West Lakes CIC Woodland Trust Pag&30
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 4. INVESTMENT INCOME- CURRENT YEAR UnTestrlcted Restricted Funds Funds Total Fund5 2022 Bank Interest 9,930 9,930 DIRECT COSTS- CURRENT YEAR Rlver Projects Total '. Advertlslng & Marketing. ". ComputernNebsite Depreciation Electrlc and Gas Farmers Grants HR Consultants Health & Safety Consultants Insurance Legal and professional National insur8n Office Costs Pension Conlrlbutions Project purchases Prlnllng, postage and statlon8ry Protective clothing R8nt and Rates Repalrs and mainton8nce Stsff costs - sundry Sundry expensés Training Travel cost TelephDne Wages and salarlos 7,320 28.032 28,766 2,040 17,909 1,972 28.032 28,765 2,040 17.909 1,972 4,446 9.651 9.551 52,341 2,164 46,660 393,313 2,655 7,222 24,545 469 7,999 6,420 12,157 23,157 7,370 579,725 1.275,846 52.341 2.164 46.660 393,313 2,655 7,222 24.545 469 7,999 6.420 12,157 23.157 7.370 '. 579 725 1,275.846 Page 31
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 DIRECT COSTS- PRIOR YEAR Rlvèr Projects Total 2023 Advertlslng Computerlwebsite DepreciatSon .Electrlc and Gas Farmers Commissions & Grants HR Consullanls Insurance Legal and professional Nallonal Insurance Offie8 Costs Pension Contributions Project purchasgs Prlnling, postago and stationery Prolactive clothing. Rent and Rat$s R¢paSrs and maintenance Staff costs - sundry Sundry expenses Training Travel cosl Telephone Wages and salari88 2,242 .7,217 29,648 2,355 78,900 2.005 7.776 10.740 2,242 7,217 29.648 2,355 78.9tio 2,005 7,776 10,740 46.077 4.051 38,631 734.082 2.739 5,789. 20.349 752 5,166 4,051 38.631 734,082 2,739 5,789 20,349 752 5,166 5,3q7 8.734 22.943 5,859 468,983 1,510,355 8,734 , 5.859 d68,983 1,510,355 6. GOVERNANCE COSTS-.CURRENTYEAR Unrestrl¢ted Re$trlct&d Funds Funds Total Funds 2024 Accountancy fees Auditovs Renumeration Legal & prof6ssional 1,500 2,997 48 4,545 1,500 2,997 48 4,545 Page 32
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 GOVERNANCE COSTS- PRIOR YEAR Unrestrictèd Re5trlGted Funds Funds Total Funds 2023 Accountancy fees Auditor's Renumeratlon Legal & profosslonal 1.400 2,936 48 4,384 2,936 48 4,384 7. SUPPORT COSTS- CURRENT YEAR Rlvar Projects .. Total 2024 Bank Charges 866 B66 SUPPORT COSTS- PRIOR YEAR River Pwojeets.. Total 2023 Bank Charges RT Loan Interest HP Interest 752 563 374 1,689 752 563 374 1,689 8 ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE- CURRENT YEAR . st8ff costs Depraclatlon Other ¢osts Total 2024 Rlver Projects Governance 678,726 . 28.765 572,218 1,279.709 . 678,726 28,765 573.766 1,281.257 Page 33
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE- PRIOR YEAR Staff eosts Dapreelatlon Other costs Total 2023 River Prol8¢ts Governan 553.691 29,648 931,641 1.448 933,089 1.514,980 1.448 1,516,428 553,691 29,648 9. ANALY51S OF RESOURCES EXPENDED BY AcTivillES- CURRENT YEAR A¢tlvlti88 Undertaken dlrectly Support ¢ost Total 2024 Rlv8r Prolects Grants to F8rm6rs Rlver Proleols 1.262,483 17,909 .280,3 865 1,263,348 17.909 865 1.281, ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES- PRIOR YEAR Actfvitles Undertaken dlrectly Support ost Total 2023. Rver Proj8cts ant5 to Farmsrs . FIr Prolects 1.435.839 1,689 1,437.528 '. 1 514 739 1 689 1 516428 ' Page 34
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 10. NETINCOMINGIIOUTGOINGI RESOURCES This is slated aftercb8rging.' 2024 2023 Depreciation Lease paymenls Audltors 28,765 29,648 2,832 11. STAFF COSTS staff costs were as follows: 2024 2023 Wages and saladas Employers national Snsurarsce Employer Pension Conlr5bulion 579,725 468,983 52,341 46,077 46,660 38.631 678,726 553.691 No employees recewed remuneratlon amounting to more than £60,000 In elth'er year. No remuneration was paid to any Trustee in respect of their positM)n as Trustee. No expenses were pald to Trustees In either year. The Charity has purchased insurance to protect Trustees from clalms arising from negliger)t arts, errors or omissions occurring whllst on charlty business. The cost forthe year ended 31, March 2024 was £2,29012023. £2,2901. The cost of this insurance 15 included in direct C05t5. The Trustee'5 liability Insurance Ss capped at £S,000,OIJO. The key managemerbt personnel of the Trust, comprise the Trustees and the Trust's Operations Directtsr. The total Èmployee benefit of key management personnel of the Trust was £57,73712023 E55,2121.The average monthly nymber of employees durlng the Year was as follows: 2024 No. 2023 No . Management Prole¢t Siaff Admlnlstralion Sl8ff 22. Page 35
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 Mar¢b 2024 . 12. TANGIBLE FIXED ASSETS Motor Vehicle Plant and Office. Machinèry Equlpment Total COST At 1 April 2023. Additions Disposals At 31 March 2024 71,516 23.994 116,432 14,094 3,369 191,317 38,088 95.510 130,526 3,369 229.405 DEPRECIATION Al 1 April 2023 Charge foT'year On dlsposals At 31 March 2024 47,109 14.008 81,753 14,373 1.832 130,694 384 28,765 61.117 96,126 2,216 159,459 NET BOOK VALUE At 31 March2024 34,393 34,400 1,153 69.946 Al 31 March 2023 24,407 34,679 1.537 60,623 13. DEBTORS 2024 2023 Trade Debtors Sundry Dobtors Grants Due Prepayments 195,136 2,037 386.763 10,359 594,295 259.496 136 312,678 6,835 579,145 14. CREDITORS: Amounts falllng due withln one year 2024 2023 Tra(le creditors other taxation and SDcial security Other rredilors Accruals and deferred income 47,634 183,832 14,741 11,348 83,770 11,412 3,442 3,133 149,587 209,725 Page 36
WEST CUMBRIA RIVERS TRUST LIMITED . COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 15. STATEMENT OF FUNDS-CURRENTVEAR Balance al Movement in re60urces'. Transfers 01 Apr 23 Incomlng Ouigolng Balance at 31 Mar 24 Unrestrlcted funds General funds 176,682 77,355 86,832 167,205 Total Utweslricled funds 176,682 77,355 Reslrlcted funds Annas Calchmenl Bathing Water8 Catchment Partnershrp Coa511o Coast Cocker Facilitation Fund Cocker NFM Cod(erWEG Compensawmeasureg CPAF Cumbria People & Nalure Electrofkshing Survey EnnBrdale Mill Dam FIPL Glendermackin Flimby GOF ReblRTH Glendermackin NFM IRT High Slalus Invasive Species Loweswater Care Moniloiing Natural England ProiBcts Newlands S*Jb Reslrided FundsTolal 4,204 1,221 5,667 48,306 230 19,028 8.558 2,983 333 70,158 7,270 1,421 53,115 4,992 - 67,651 53,500 5,138 8,077 10,000 11,8971 11.380 921 22,663 29,978 13,677 4,496 6,000 40,880 7,SOO 19,366 5,000 78,256 1672} 1.083 56,673 4,992 51,345 57,384 89,736 60,156 8,500. 15,700 69,637 54,040 13,793) 15.214 10,000 27,837 5,000 19,434 21,331 2,200 2,220 23,699 34,151 10,521 1,186 4.500 2,821 13,580 46,212 4,314 20,468 5,682 3,828 7,856 7,881 392,101 150 39,815 1,232 20,000 2,500 672 3,484 8,529 7,861 382,246 316,953 350,515 23,707 Page 37
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 . 15. STATEMENT OF FUNDS- CURRENT YEAR Icontlnuedl Balance al Movement Sn resources- Transfer5 01 Apr 23 Incoming Oulgolng Balanco at 31 Mar 24 Brought Foard 392,101 316,953 350,515 23,7Q7 382,246 . People on The Keekle ReForm Re8ilienl Gkndermackin Restoring The Oerwenl River Corridor Group River Irl Compensation Fver Resloralion Projecl StJohn's Beck Thirfmere Thriving Cocker Wild Aboulwalkmlll Wrfd Rtver Educali Woods for W£ler Total Reslricled luThis 154,549 71,812 72,565 15,000 54,950 79,389 70,028 13,576 459 19,834 13,7841 123,913 171,4401 95,622 2,032 129,033 199,192 39,387 20,776 1,198,706 171,300 7,577 7,093 5,188 7,915 79,OOS 9,630 6,612 7.458 55,387 154,107 19.774 209,241 115.366 30 1,540 19,0601 217,046 51.133 7,261 970.124 139,668 179.400 47,097 22,878 1,344,529 1,575 239,654 58,843 9,363 1,115,947 42,400 Totsl ol ndS 1,146,806 1,421,884 1,285,538 1,283,152 Page 38
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 15. STAYEMENT OF FUNDS- PRIOR YEAR 8alanGe al Movement In resour¢es: Transfers 01 Apr 22 Incomlng Outgoing Balance at 31 Mar 23 Unreslrlcled funds General fitnds 170,557 28,260 22.026 109 176682 Total Unrestricted fvnds 170,557 22,026 IQ9 176.682 Restricted funds Annas Calchfftsnl Calchmenl Partnershlp Cocker Facilitslion Fund Cocker NFM CoGkér WEG Compens31cry Measures CPAF Crookhurst FacilialiDTh Fijnd CrookhurslWEG eclraftshing Survey Ennerdale Mill DaTll FIPL Cocker Flimby GDF ReblRTH Glendermackin NFM Glendermackin WEG IRT High Slalus Inv8siv8 Spedes Loweswaier Care Monitoring Natural En9land Prolecls Sub Reslrided FundsTotal 14,391 40,000 19,322 16,398 50.567 18,581 12,653 140,957 67,857 30,726 4,204 78,256 fj,083 56,673 4.992 51,345 57.384 &8,823 342 47,808 1,235 38,495 21,518 8,482 136,232 80,707 75,000 251 1,170 8,279 10,000 33.4g3 39,643 34,885 26,208 222 15,214 10,000 19,0601 13,580 3,141 46,212 102,726 29,0(Nl 9,983 10,000 42,275 39,051 19.583 111,786 23,926 6,842 13,848 44.895 34,747 13,609 2,455 4,015 2.489 657,644 48,408 .4,272 1,652 11,6521 4,314 20,466 5,682 3,828 7,866 371180 2,692 8.137 7,843 12,000 2,990 685,406 302,947 44,471 Pag8 39
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 Balante al Uovemonl in resourGos,' Transfers Balance at 01 Apr 22 In¢omlng Oulgolng 31 MaT 23 Brought Forward MEIRF Resilient Glondermackin N8wlands People on The Keekle Resloriry The DeNenl Rnier Co¥ridor Group River lrt Compensation River Resloralion Project &noli Tiaps- sOaY Firth Sl Johns Beck Thlrlm8re Wild About Walkmill Wiki Rivw Education Woods forwaler Total Restiict¢d funds 302,947 391 685,406 80,216 657,644 44,471 73,514 375,180 7,093 7,861 71,701 5.188 7,915 79,005 14Q,219 133,142 5,973 4,301 69,507 70,945 46,567 1,336 75,041 179,385 145,000 3,7 109 147,686 5,250 16,929 14.721) 45.782 4,950 84,539 178,0 3,248 6,315 11841 27,352 20,329 3,239 771,025 136,151 22.326 330,024 85,621 27,796 1.690,315 30 492 217,046 51,133 7.,261 970,124 54.817 1,491,325 109 Total of lund5 941,582 1,718,575 1,513,351 1,146,806 Invasive Specles The aim of this project is provent, detect, control and eradlcate specified Invasive ntsn-native species in the Derwent Catchment through a uniform, catchment based approach across partners, aligning with the Derwent Catchment INNS strategy and.the G& Inv051ve Species Strategy. Thls project Is ¢urrently focusinÉ on controllSng and eradicating Himalayan balsam, japanese knotweed, American skunk cabbage and as of 2024, Amerbcan mink. The project also aims to raise awareness of Snyasive species through the ChecK Clean, Dry campalgn to prevent the spread of new invaslve species. Funding has been received from National Trust, Natural England Coast to Coast fund. Environment Agency and United Utilities. All work Is done in collaboration with partners through the Derwent Invaslves Partnershlp. ' Loweswater Care Programme The LCP aimed to Smprtsve the water quality of Loweswater through improvements in farmlng practlces, land restoration and treatment of lake waters. The main LCP projert, funded by DEFRA'S Catchment Restoratlon Fund ICRFI, was completed In 2015, but the Trutt Is still Involved In monitoring of the Lake. Page 40
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 Rlver Restoration Programme Funded by the Environment Agency and Natural England, the overall aim of the river restoration project Is to restore watercourses in the SSSI Section of the Derwent catchment In line with the Water Framework Directive 2nd the SACI55SI Site Improvement Plan, and since 2022 the scope has expanded to Include areas outslde the SSSI boundarie5 lon a tase by case basis). Current projects include the Dubwath Beck restoration, River Ellen barrier removal scheme, Culvert removal on St. John's Beck, Croasdale Beck fish easement, Wilder Walkmill rivei re5torÈtion, Liza Beck study and 5tanger Spa floodplain reconnection. Catchment Partnershlps WCRT host three Catchment Partnerships as part of the Catchmènt Based Approach ICa8AI covÈring the Derwent, South-west Lakes, and Wampool and Waver catchmÈnts. The funding through DEFRA allows for the establishment and malnten3nce of a partnership for each catchment that works with key stakeholders to a8ree and deliver the strategic prSorities for the catchment and to support partner organisations in developlng and dellvering plans and strategies such as the River Ba51n Management Plan (required ¥Jnder the Water Framework Oirectivel and others such as Drainage and Wastewater Mana8ement Plans. Rlver Irt P¢arl Mussel This is a longstandlng prolect benefiting from several different funding sources over the years. The proje now primarily benefits from Environment Agency lunding and Natural England funding through WEIF and River Restoratlon Strate. It aims to restore the Pearl Mussel population In the River Irt through re- introdijctions, monitorlnÈ and habitat restoration works. Following a nt dècision to aim to reach 'High' status under the Water Framework DirectlvÈ, a 'Hi8h status, plan has been developed focusln8 around restoring the hydro-geomorphology within this beck. Wlld Rlvers Edutatlon We contiiiue to run our successful Wlld About Rlvers progiamme to Key Stage 2 prlmary chlldren across West Cumbria thanks to funding from Cumbria Community Foundation. Over the ècademic year 2023-24 we worked wlth 16 schools and 500 learners and feedback has been excellent. The programme ha5 been over-subscribed this year, but a new two-year partnership with National Trust will add capacity through the provlslon of a NT Engagement Officer. Our Wellbelng In the Woods programme for young people with mental health issues also continues, thanks to funding from Francis Scott Trust. We run weekly Forest School sesslons fgr 2 regular Eroups across our sites at Walkmill, Longlands Lake and Mirehoyse Ponds. In addition, several Communlty even15 to engage and enthuse local communities have been dellvered during weekends ahd holidays, In¢ludinB river and pond-dipping and a successful day at Florence Arts Centre as pait of their summer programme. The Trust's Youth Panel af young people continues to feed thei thoughts and views into the Board of Tru5tees' decislon-making process and to support our work on the ground. Our partnership with National Trust will also add capacSty to drive the Youth Panel forward. Electroflshlng SuNey5 FLtnded by Natural England's Coast to Coast project, donations from riparian landowners, the èngling communityj various charltable sgurces, and partner organisations, thi5 Qerwent catchment-wide fish and habitat assessment provides £rucial data on distributions and numbers of fish to inform the targeting of conservation actions throughout the catchment and demonstrates the Impact5 of improvement works. Page41
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 Natural England's Fa¢ilitatSon Fuhd (Rlver Coekeyl The Trust continues to work with the Cocker Catchment farmer group, funded through the Countryslde Stewardship facilitation fund scheme. The scheme involves engaging and educating landowners and farmers collectively through a serles of events, slte visits and demonstratlons, around reduclng diffuse pollution. air qualityi habitat restoration and natural flood management to Improve farm resilience and restore the ehvironment'and water¢ourses. Qjmpensatory Measures (Rlver Ehenl Following on from the Pearls in Peril Project the Trust has Continued working with the critically endanxered freshwèter pearl mussel In the Rlver Ehen catchmet)t with continued funding from United Utilities, Compensatory Measures project. The project delivers habitat Improvements, rèduces diffuse and Point source water pollutlon and supports natural processes to provide a hezlthy natural envlrDnment that supports the sustainable recrultment of the freshwater mussel and Atlantic salmon. People on the Keekle The 'People on the Keekle, project, Initially scheduled to end In October 2023, has recelved a three-year extension with funding from Sellafield. This new phase will contlnue th.e successful efforts In community engagement, habitat restoration, and water quality improvement at Longlands Lake, th? Lower Rlver Keekle, and its tributarie5, while also expanding to include Mirehou5e Ponds In Whitehaven, The project seeks to connect people with nature by involvlng local communltles and schools environmental education and hands-on leaining. Schools wlll develop nature areas on theirgrounds, Integrating outdoor activitles Into their currlculum. The Init12tlve will also focus on managlng invaslve species, enhancins public access, and organizing community events such as wildlife walks, tree plantlng, and pond dipping. These èctivlties aim to enrlch the natural environment and foster a stronger connection between residents and their local ecosystems, benefiting both wildlife 2nd the community. Since the successful phase 2 launch of the project a part time learning and engagement officer has been in post. The officer works at both Longlands Lake and Mlrehouse Ponds deliyering a sulte of activitie5 such as wildlife clubs, Forest School, conservatlon le.g Balsam Bashing), pond and river dipping and d15covering an learning about freshwater wlldllfe. These are focussed on engaging and educating the communlties In the catchment, including schools, youth groups, alternative provision (children excluded from formal educatlonl, famlly holiday events, and community groups. In addition, we have launched our programmè 'Greener Ground5, which aims to Improve wildlife areas in schools with a focu5 on Sustèinable Drainage Solutlons ISUDSI otherwise known as rain planters and rain gardens. Examples of work cuyrently underway include bulb planting, tree planting, pond cre3tion 3nd wildflower areas. The project supports schools with funding, advlce and practlcal help. Each school gets a bespoke management plan with curriculum linked lesson plans to enhance and embed outdoor learning and to support them In their climate Sction plan and sustalnabillty lead role as directed by the Department for Education by 2025. Mitlgation Measures 1st. John5 in the Vale) Funded by United Utilities, this project is part of the new Thirlmere Abstraction Licence Section 20 agreèment between UU and the EA (Schedule 21. The aim of the project is to work with landowners in the St John's Beck carchment to improve the habitat for the benefits of the protected features of the Special Page42
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 Area of Con5eNation ISACI. The Intention Is that the habitat improvements will make flow in St John's Beck more effective at delivering the natural processes that the SAC requlres but which are athiersely impacted by the highly mana8ed nature of the system. Woods for Water Supported by 'DEFftA, and as part of the 'Rlverscapes' partnership, through thls project we are able to facilitate landowners to apply to the English Woodland Creation Offer IEWCOI, a national tree planting grant, specifically to encourage upiake of woodland creation where It benefits thÈ water environment in the Oerwent catchment. A Wllder Walkmlll The delivery phase of funding from Notional Lottery Heritage fund started in September 2023. Thè project will Improve and enhance the much-loved greenspace'namely Walkmill Community Woodland at Moresby Parks near Whitehaven..The site is important bocause of ils 5ignlficant natural and Industrial heritage but requires significant management and repairfor people and wildlife. Health and wellbeinE of the local community will also be improved through Green Gyms, Green Soclal Prescribing and events and activities. School chlldren wlll learn about the sites fJ35clnatlng history and ionnect with the miners from village through oral history and interpretation. fteslllent Glenderamackln The Res11ient Glenderamackin project is developing a model to link Investors, buyers and seller5 of ec05y5tem5 Services to reduce flgod risk, restore nature and mitigate agaln5t climate change In the Glenderamackln catchment. If this large scale and ambitious catchment projert15 Successful, it will leverage around £30mllllon in capital and revenue over 20 years. The work has been supported through DEFRA'S Natural Environment Investment Readlness Fund INEIRFI to date at)d has now transltioned to a Landscape Recovery round 2 pilot project, which is currently in the developrn2nt phase. WhilstThe Trust Is the lead partner in thÈ development phase, the long-term implementation agreement will slt with a special purpose vehicle15uch as a ComJnunity Interest Company ICICII which would contract The Trust to , untlertake signllicavjt Input to this prolect over the next 20 year5. Hallsenna and Black Beck The project received funding for a development phase to work up two potential projects wlthln the Geological Disposal Facility IGDFI 5eaYch area. The project now focuse5 on habitat and access Improvements at Hallsenna Mooi ISSSI and NNRI, and habitat improvements on Black Beck. With bids being submilted to support these aspirations. The development phase is now over. The Holmrook Meadows element was aborted due to landowner issues. As such the prolert Is now prlmarily focu55ed upon Ha115enna and Black Beck with bids being submitted to funders. FIPL Cocker Funded through the Lake Dlstrict National Parvs Farmlng in Protected Landscapes IFIPLI Scheme, this project conlinues our successful work to date in the River Cocker Catchment. Through worklng closely wlth Page 43
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMrrED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 farmers and landowners the project includes on the ground delivery of tree plantin& PDnds, scrapes and wetlands,. bageline farm Larbon audits and assoclated soil sampling for 14 farms and a large-scale river restoration feasibility Study. A central strand of the projectfis to develop pipelines of projects to deliver on multiple benefits and supporting farmers to apply Into other'available schemes and acce55 SUPPOrt. Waver Wampaol ProJ¢ct Funded through Several sources, Irkcluding Garfleld WestOVb Foundation, United Utilities'Better Rivers Better North-west, and the Envlronment Agency's Water Environment Improvement Fund, the Trust is working closely with farmers, landowners and local communities to improve water quality and restore riparlan habitats In the catchments of the Rivers Waver and Wampool in the Solway area of north Cumbria. ReForM Our work to tonserve the critically endangered freshwater pearl mussel populations wlthin the Ehen and lrt catchments ha5 been further expanded through support recelved from Natural England Specie5 Recovery ProÉramrne. This cross-catchment project is iFnproving habitat conditions for freshwater pearl mussels and their host fish. In addltion. this project helps us to maintain our partnership wlth the Freshwater Biological AssDciation whereby captive bred juvenile mussels are released into the wild. FIPL Resllient Farms for a Reslllent Glenderamackln Funding to revive and expand the Glenderamackin Catchment farmer group meetings to support farmers and land managers during the agricultural transition. Working towards vlable farm busine55e5 delivering n3ture-based solutions and produclng good quallty food. The projèct includes 13 farm carbon audits Wlth addltional soll samplingi and whole-faim habitat suNeys, Bathlns Waters Derwentwaler is a very popular swimming spot for locals and tourists alike and so over the summer of 2023 the team and volunteer5 carried out a number of water quality samples and questionn3ires from people swimminÉ in the lake to put enable a bathlng water application to be submilted to Defra. The appllcation was successful and over the summer of 2Q24 the Environment Agency have taken samples to inform the bathing water status of the lake. The results are to be announced at the end of November2024. Cumbria People & Natyre Network ICPNN) The CPNN15 a forum that brings people of all ba¢k8rounds and cultures together who are involved in . people 2nd rbature activity to grow relationships Bnd partnerships, share learning and work collaborht¢vely* and help morÈ people connert with, benefit from, and take 2Ction for nature across Cumbria. The hetwork was set up by Natural England in partnership with the steering sroup. The Trust put in a bid to We5tmoreland and Furness councll and Cumberland council for the network to create a website. The Trust's director is now the Chair of the network, and It lunds some staff time for doing 50. Coast to Coast In July 2022 Natural England received Secretaly of State approval to establish a new Natlon31 Trail broadly following the route of the popular Alfred Wainwright Coast to Coast path from St Bee5 in Cumbria to Robin Hoods Bay in the North York Moor5 National P8rk. As part of this approval, Natural England wa5 awarded addition31 fundin8 to offer a range of nature improvement Initiatives along the corrldor of the route. The Page44 .
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 Trust recelved funding to produce a BdIverSitY in Borrowdale Artion Plan for nature, with a particular focu5 on salmon. The fundlng wlll also create a unifled approach to mana8irig Invasive specie5 In the Borrowdale Valley and Derwent Water. Watery Walks The Trust has received funding from the UK Shared Pr05perlty Fund as part of the government Levelling Up fund, rnanaged through Copeland Communlty Fund for our Watery Walks Project. The project aims to glve people the confidence to find new ways to access their local watery world by identlfying, scoping and mapplng 10 rSver walks. We wlll cover the Ilvers throughout our patch wlth 3 variety of walks to 5UIt all agès and abilities. NatlonalTrust Specles Survl¥al fund The National Trust Lake District Riverlands Project & West Cumbrla River Trust are dellvering 3 programme of Engagement and Outreach activities to connect people In Cumbrla with the health of their rivers across the Derwent catchment. The objectlve'¢onnecting peoplè with nature, is shared between the two P3rties and thi5 project presents an opportunity to work together to share skills and knuwledge, working collaboratively to achleve more together than each party Lould if operating separatelv. The project will also Support the Dernvent Inva51ves Partner5hlp, led by the InvasSves Project Officer at The Trust, which aim5 to "develop and maintain cost-effective sustainable strategic approaches to prevent, detect. control and eradicate speclfied Invasive non-native specles in the Derwent t3tchment through a uniform. catchment-b3sed approach across partners" (Derwent Cotchment INNS Strotegy & Action plan, 2023-27). The pmject 15 funded through the NT, SpÈties Survival Fund and bullds on PvIouS 5ucce55ful collaborations to deliver Engagement and Outreach programme5 funded through the People's Postcode Lottery IPPLI and Green Recovery ChallenEe Fund IGRCFI. 16. ANALYSIS OF NET ASSFfs bètween lunds- CURRENT YEAR Unreslrlcled Restrlcted Total Fund¥ Total Fund8 funds fund5 2024 2023 Tangible fixed assets Current assets Current liabllilies 25,548 148,108 16.451 187,205 34,398 1,214,685 133.136 1,115.947 69,946 1.362.793 149,587 1,283,152 60,623 1,295,908 209,725 1,146,B06 Page 45
WEST CUMBRIA RIVERS TRUST LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 ANALYSIS OF NET AssEfs between funds- PRIOR YEAR Unreslrlcted Reslrlcted Total Funds Total Funds funds funds 2023 2022 Tanglble fiK8d ets Cyrrent ass8ts Current liabilits'es 25,946 163,988 13.232 176,682 34,677 1,131,940 196,493 970,124 60,623 1,295.908 209.725 1,146.806 76,690 1,042,060 177,168 941,582 17. RELATED PARTIES The charitable ¢ompany is controlled by the Trustees who are all directors of the company. The Trust works with other rivers trust5 and the umbrella organisation The Rivers Trust. All relationships 3re conducted at an arm's length basis, and where requlred a standard memorandum of understandlng is negotlated. There have been no related party tran5action5 in the perlod. 18. COMMITMENTS Operating Leases: At 31st March 2024 there were the following annual commltments under nDn-cancellable operating leases. Amounts relate to rent of the offlces. phtjtocopierand telephones. 2024 2023 Operatin8 leases payments due: Within one year In the second to fifth year5 indusive 26,958 18,977 45,935 . 23,802 28,336 52,138 . Page 46
WEST CUMBRIA RIVERS TRUST LIMITED. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 19. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Incc+ma for the ygar Adjustmenls for.. . Less Gove¥nment grant Ineome Add back depreciation Add back HP Interest charge Ilncrease) decrease in debtors (Decreasevincrease in creditors NBt cash provided by op6ratinB actlvltles 202,147 15121 29,648 374 16.541 97,389 345,587 28,765 115,1501 60,138 93,954 2Q. ANALYSIS OF CHANGE IN NET DEBT At Cash Flows 0110412023 Other non Cash Changes 3110312024 Cash & Cash Equlvalents. Cash . 716,763 51.735 768,498 Borrowlngs wilhin one yoar Finance Leasg Public 88nefit Conce8sionary Loan TOTAL 716,763 51,735 768,498 21. PENSION COMMITMENTS The Charity operates a defined contribution penslon scheme. The assets of the scheme are held separatety from those of the Charity independently advised funds. The pen%ion cost charge represents the contrlbutions payable by the Charity to the fund and amounted to £46,66012023 £38,6311. Contribution's total £12,50212023 £5,087) were payments due to the fund at the B'alance Sheet date 3nd are Included In creditor5. Page 47