# Trustees Annual Report & Financial Statements for the Year Ended 31[st] March 2021 

Registered Charity Number: 1145724 

Company Number: 06339974 



## 1. Legal & Administrative Information 

|Trust Director /Chairman|Anthony Rees MBE|
|---|---|
|Trust Secretary|Dennis Baynham|
|Correspondence Address|13 Alexandra Avenue|
||Merthyr Tydfil|
||Mid Glam|
||CF47 9AE|
|Bankers|Natwest|
||Barry Town Hall Branch|
||117 Holton Road|
||Barry|
||Vale of Glam|
||CF63 4TD|
|Accountants|BPU Chartered Accountants,|
||Radnor House,|
||Greenwood Close,|
||Cardiff Gate Business Park,|
||CF23 8AA|
|Registered Office|Former Glancynon Vestry|
||Glancynon Terrace|
||Abercynon|
||Mountain Ash|
||CF45 4TG|



The Annual Report of the South East Wales Rivers Trust and the Financial Statements have been prepared in accordance with the requirements of the ‘Statement of Recommended Practice’, and ‘Accounting and Reporting by Charities’ (revised 2005). 

2 



## 2. Structure, Governance & Management 

## 3. Governing Documents 

The South East Wales Trust is governed by its Memorandum and Articles of Association as incorporated under the Companies Act 1985 on the 18[th] February 2003. 

## 4. Trustees 

The Trustees for the year 2020 -2021 were as follows: 

Anthony Rees MBE Chairman Dennis Baynham Secretary Jonathan Mead Jonathan Davidson Taylor David Frank Roberts Dr Alan Edwards James Gregory Professor Bob Williams Richard Garner Williams 

The Trust is a member of Afonydd Cymru, the overarching Rivers Trust body for Wales, and our Chairman sits on the board. We are able to draw on the expertise and resources of Afonydd Cymru when required. The following people from Afonydd Cymru supported the Trust in 2020 / 2021, and we are very grateful for their help: 

Dr Steven Marsh Smith OBE CEO Afonydd Cymru Sadly and suddenly during 2020 Dr Steven Marsh Smith passed away: Viscount Christopher Mills                  Chairman Gail Davies CEO who replaced Dr Stephen Marsh Smith Caroline Orr Working on Grants Simon Evans CEO of Wye Usk Foundation Sian Gray Head of Finance Wye Usk Foundation 

The Board of Angling Cymru that consists of the Chairman or CEO from each Trust in Wales under the guidance of Viscount Mills the Chairman quickly appointed a new CEO Gail Walsh Davies. Gail was previously Environment Manger with Dwr Cymru Welsh Water. Gail is employed currently on a Part time basis.  She has successfully steered the Trusts through a difficult period. Her expertise is of great benefit to us all. 

## 5. Organisation 

3 



## Board of Trustees 

## Projects Group 

Project Director, Chairman, volunteers 

- Identify and design river improvement projects, place contracts, oversee construction and verify effectiveness. 

- Organise and run annual European Eel Restoration Project Due to Brexit and Covid this Project did not run in 2020 or 2021 

## Operations Group 

Chairman Director, Organise and run. The Trusts numerous Projects 

- Create and implement operational infrastructure eg IT, policies, procedures, risk assessments. 

- Obtain funding. 

The current number of Trustees and volunteers does not allow us to have a large number of Committees or sub committees. Therefore, two groups above have been established who both report directly to the board of Trustees. 

The Project Group is still focused primarily on river improvement projects, governance, and staffing. Plans and progress are discussed at the Board of Trustees meetings every two months, and each group leader presents an update. During 2020 -21 meetings were remote and mainly our work was carried out by E:mail and response. Our work was curtailed so much that two staff were furloughed for two months and one working on a community project for six months. 

## 6. Key People 

The Trust benefits from having a small group of experienced volunteers willing to provide their skills as needed. 

Finance:  Michael Bishop former Accountant: Helen Adams bookkeeping, BPU Accountants prepared the accounts. 

Environment and Habitats: Brian Walkley, Tony Rees, John Coombs Keith Jones. 

Our Staff: Project officers Paul Kent and Alyssia Thomas. 

We work closely with Natural Resources Wales. We share information and successes among the Welsh trusts as well as those projects that have proved more challenging. 

Education and Community Links:  (Sadly all these stopped due to Covid)  Tony Rees, Brian Walkley, Keith Jones John Coombs Gareth Edge our project officer previously RDP Project officer now working on our River Cynon Project. We also use the services of Merthyr Tydfil 

4 



Borough Council Biodiversity staff.  Work by all the above has been restricted due to covid regulations 

Communications and publicity: have been dealt with by the Chairman in 2020-2021. 

## Objectives 

The objectives of the organization are: - 

- a. To promote the conservation, protection, rehabilitation and improvement of the rivers, streams, water courses and water impoundments in the rivers Taff, Ely, Rhymney, Ebbw, and Sirhowy together with their catchment areas in all their aspects in South East Wales and adjacent areas of their banks and riparian lands; 

- b. To promote the conservation, rehabilitation and protection of the indigenous species of animal and plant life of the rivers, streams, water courses and water impoundments in the Rivers Taff, Ely, Rhymney, Ebbw, and Sirhowy together with their catchment areas in all their aspects in South East Wales and adjacent areas of their banks, riparian lands and thereby enhance the biodiversity in the South East Wales area; 

- c. To advance the education of the public in the understanding of aquatic habitats, their related catchment areas, and their animal and plant life and the need for the conservation, protection and rehabilitation and improvement of such environments. 

## 7. Goals in 2020/21 

1. We continued to develop the Trust and look for funding opportunities whenever they arise as well as new opportunities to improve the way the trust works. 

2. Develop fundraising capacity within the Trust. This was very badly curtailed in 2020. 

3. We were able to Maintain involvement with community partnerships and local and national bodies. However covid restricted meant any meaningful progress was not possible 

4. Further develop policies, procedures, and operating practices as a priority. 

5. Maintain active involvement with Afonydd Cymru and the other Rivers Trusts working in partnership wherever possible. 

6. Progress the use of the European Marine Fishery Fund. 

7. Work closely with Natural Resources Wales to carry out work on the Taff Mitigation Project. 

8. Continued our work on the river Thaw. we secured funding that enabled us carry out habitat improvements on a large scale and this has given us greater involvement with local landowners. 

9. Work with local communities including schools to inform them of the importance of the rivers that run through their locality. We did manage late in 2021 to carry out some of this work 

10. The employment of a Farm Advisor has proved invaluable to progressing our work. 

5 



## Performance in Delivering Goals. 

1. The River Cynon Project in 2020 using funding from Welsh Water Biodiversity fund to match fund funding from Pen Y Cymoedd Wind Farm Fund, and funding from Post Code lottery, has also been achieved. Although covid curtailed the start of the Project by the end of March 2021 the funders were pleased with progress. 

2. During the Year Natural Resources Wales working with Welsh Government brought together a Strategic Fisheries Fund. SEWRT benefited from this enabling us to work right across the Trust area. See 8 above. However other rivers that now come under the Trust also benefited. SEWRT presented a case on the work we would be able to carry out to secure this funding. 

3. Active involvement with Afonydd Cymru is resulting in promising prospects for 2021. 

4. Difficulties with weather and procurement and covid still held work up on one project from Afonydd Cymru but an extension has been applied for and granted to September 21 this is our EMFF project 

## 8. Plans for 2021/22 

Our focus for the coming financial year will be to continually look for more funding and projects. Funding is confirmed for the Taff Mitigation Project. We will continue the project on the River Cynon where covid restrictions allow. The funding from Post Code Lottery for running a river restoration course and a River Fly monitoring course will be used to run both these courses depending on restrictions. They will link into the river Cynon Project to help advance the knowledge of volunteers working on this. Our Funders have been understanding in allowing the funding from 2020 to roll over to 2021. Afonydd Cymru is working with Natural Resources Wales on increased funding across Wales to bring our rivers up to a higher standard. 

Natural Resources Wales completed a reorganisation in 2019 that resulted in the Southeast Area covered by SEWRT being split. The Southeast Area was retained in part and South Central was formed that took in part of Southwest.  Covid resulted in SEWRT not being able to benefit from this until 2021. The SEWRT area now encompasses those rivers to the West of the Ely out as far as the River Kenfig. We have contacted the Angling Associations in this new area. As has been Trust policy, with positive results. 

## 10    Financial Management 

## Financial Policy 

In accordance with the Memorandum of Association, the Trustees retain overall responsibility for the implementation of financial policy in furtherance of the objects of the Trust.  They delegate powers for day-to-day running of the Trust to the Projects and Operations Groups. The continual use of HRA Accounting based in Barry South Glam to 

6 



manage our bookkeeping side has enabled us to closely monitor all our funding. We also work to the financial procedures policy that the Trust has. 

## 11.Reserves Policy 

It is the aim of the Trustees to maintain a level of reserves sufficient to carry out the objects of the Trust. Where the Trust has been involved in habitat improvement projects, completed in partnership with Natural Resources Wales and other funds, these organisations meet the full capital costs of the schemes thus minimising the potential liability of the Trust. The Trust contributes to these projects with volunteer time. Where possible the Trust looks for extra funding. 

## 12.Risk Management 

As a small charity, the Trust is managed by a close-knit group of highly committed and professional individuals with the benefit of expertise and advice from Afonydd Cymru and the River Trust. Public Liability & Personal Accident and Trustees Indemnity insurance cover are in place. Careful risk management of projects undertaken in partnership with other agencies ensures that all projects have an agreed cost ceiling and on completion of each project no contractors are paid until money is received from the project partners.  The use of HRA accounting has allowed us, with a new IT management programme to keep even closer cost control. 

## 13.Principal funding sources 

To date these have been from Natural Resources Wales, Welsh Water, Merthyr Tydfil County Borough Council, Welsh Government with European Funds. Some funding is ringfenced, as it has been given for specific purposes. This is ring fenced in the accounts. We also apply for funding from annual funding pots that are offered from such grantors as Post Code Lottery. 

## 14.Trustees Responsibilities 

Company and charity law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 1985, applicable standards, the statement of recommended practice and the regulations made under the Charities Act 1993. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

7 



## 15.Financial Statement of Accounts 

The financial statement for year 2020/21 has been submitted to companies House and the Charities Commission separately. 

8 



REGISTERED COMPANY NUMBER: 06339974 (England and Wales}
REGISTERED CHARITY NUMBER: 1145724
Chtsrtered
Accountants
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2021
for
South. East Wales Rivers Trust
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Cardiff CFYJ 8AA
BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
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South East Wales Rivers Trust
Contents of the Financial Statements
for the Year Ended 31 March 2021
Page
Report ofthe Trustees
1 to5
Independent Examinerfs Report
Slalement of Financial Activities
Balance Sheet
8t09
Notes to the Financial Statements
101019
Detailed Statement of Financial Aolivilies
20

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
The trustees who are also direGlors of the charity for the purposes of Ihe Companies Act 2006,
present their report with the financial statements of the charity for the year ended 31 March 2021.
The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are those of promoting the conseNation, protection and improvement
of the waterways within the South East Wales catchment area together with that of the indigenous
species of animal and plant life in such waterways. In doing so, the charity will undertake to
advance the educalion of the public in the needs and requirements of aquatic habitats and support
the social and economic regeneration of the catchments by engendering the sustainable use of the
rFver valleys and the associated environment with benefits lo the region's economy. social
well-being, tourism and regeneration. The charity will act as a focal point and coordinator belween
similar organisalions and with the national authorities to achieve these goals.

South East Wales Rivers Trust
Report of the Trustee5
for the Year Ended 31 March 2021
ACHIEVEMENT AND PERFORMANCE
Business Review for the Year
The start of the new financial year, that we were anticipating as one to look foNard to, quickly
became one that looking back we will want to forget. In common with all organisations the
lockdown did affect us. Some parts of our programme were affected more than others. Brexit has
also caused us lo stop our Eels in the Classroom project. We could not continue it in 2021.
The Taff Bargoed Rural Development Project came to an end in March 2020 Before completion
we had, as previously posted, further funding from Welsh Water and the Penycymoedd Wind Fami
Community Fund. We have called this River Cynon Project. The project was due to start on the
51of
31 March 2020, but the govemment restrictions and lockdown made this impossible. As it was a
community project that required working with Schools, Community Groups, and close meetings
with people we had to furlough the member of staff that was running the project.
We had increased the scope of the project by working with an organisationlcharity called Salmon
and Trout Conservation who have a branch in Wales to join the River Cynon on to Iheir Smart
Rivers Project. This project has gained National recognition for using a programme called River Fly
monitoring, normally carried out as part of citizen science but Smart Rivers takes this to a higher
level. Samples are taken twice a year for monitoring and then analysed by a senior scientist. As
this work was outdoors, we were able to undertake the initial start to the project. The first samples
were taken in 202010 set it up. It will continue in 2021.
Another part of the Cynon Project was for the SEWRT to run River Restoration Courses. We were
able to run one of these when restrictions relaxed, by working with candidates online and using
outdoor classroom facilities. Our Project Offi￿[ delivered the Agored Cymru qualificalion for the
trust. We enrolled ten candidates., seven candidates studied logether in an outdoor classroom
setting at Cynon Valley Organic Adventures in Abercynon. The other three candidates all studied
remotely with regular contact with the tutor virtually and met up at distance for the practical
elements of the qualificatiDn.
The candidates have studied.. Preparing to work on Rivers, Health and Safety for work outdoors,
River environments and human impact, and carrying out a walkover survey. The candidates were
taught how to work safely when working in river environments,. learned to identify native species
found in a healthy river system., lo idenlify non-native invasive species. and the process of kick
sampling for river fly invertebrates.
Nine of the len candidates have now successfully passed and received certificates for the
qualification. One candidate has some work outstanding due lo the lockdown restrictions but will
complete in due course. At least three of the candidates will progress to our Smart Rivers course in
the Spring.
During 2019 NRW one of our main partners, concluded their move to creating seven areas in
Wales. The Trust area previously covered what was the Eastern valleys that encompassed.. from
the Ebbw in the east to the Ely in the west, lo which we added the river Thaw. NRW have now
changed their area structure and the Trust now work in what is their South-cenlral Area as well.
This area now covers the river systems out to the river Kenfig. However in the East we have
retained the Valley Rivers under our umbrella, even though some have now moved into a different
NRW area. The result of this has seen the SEWRT break new ground with those angling
associations and landowners in the area. Due to restrictions progress was slow in making contacts
but this will improve. This can help to increase our volunteer base, introduce local groups to the
benefil of the river on their doorstep, with the added advantage they will look after the river long
term in their local area. A small balance left in this fund will be spent in 20221-22. We have been
through an audit with NRW consultants on this.

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
ACHIEVEMENT AND PERFORMANCE
Business Review for the Year
During 2020 Afonydd Cymru the overarching Rivers Trust body in Wales. Working with NRW who
were in discussions with Welsh Government, obtained funding for all the rivers trust in Vvales from
July 20 to March 21 This was called the SAF project (strategic Allocation Fund). SEWRT
benefited from this, and we were able lo carry out nine habitat Fencing projecls and, fifteen
Easement projects. Three hundred trees were plant. This has helped us to build up an increasing
relationship with landowners across the Trust area. So important if we are to function. The works
carried out will benefit all fish populations, improve water quality in our rivers so important for
human health as well as the environment.
The Trust ran in conjunction with the Institute of Fisheries management an Electro Fishing Course.
Twelve candidates look part from various trusts and other interested parties in the two-day course.
They all successfully passed. The Trust now has three employees competent to carry out this
work. Electro Fishing is used to monitor fish populations. This can see an increase or a decrease
depending on many factors. All this then has a bearing on what we spend our funding on in the
future.
During autumn 2020 we bid for funding to work on surveys on rivers in the Trust area. The survey
was commissioned by NRW. Many of the main rivers had already been surveyed so this was
aimed at other smaller tributaries and headwalers on those river systems. When surveying we look
at such things as,. Where fencing could make a benefit.. whether any barriers need removing or
work carried out on Ihem lo ease the passage of fish.. Tree Planting.. Any polluting inputs.. gravel
areas for fish to spawn.. Invasive species such as knotweed.. whether the riverbank is natural or
modified.. The resulls obtained were written into reports and passed to NRW. NRW the Trust and
possibly other environmental bodies will use the information to further progress actions identified in
the reports to improve and maintain the quality of these important areas. The funding was due for
payment in March 21 when the surveying was completed bul due to NRW being late in making the
payment it did not come in until April 21. We used Core funds to pay wages and expenses for this
project. The sum received was £30,036 with £16,010 being spent We have used some of the
funding remaining to carry out further Surveys in 21.
Miscellaneous funds are derived from pollution incidents where a company or Person, mainly
companies sometimes offer, when they commit an offence under the current regulations that
causes minor damage to the environment, some funds to mitigate the damage. This is then used
to help us expand. Training people on monitoring out of this fund enables us to keep a watching
brief by doing more monitoring.
We have been informed of a new round of SAF funding for 2021-2022. This will enable us to
continue with our work to improve and protect the rivers and adjacent areas throughout the
SEWRT area.
We also had payment of whal are called mitigation Funds that had previously been paid to us into
the Team Fund. These were paid in late March and are to be used for specified projects during 21
-22. Consultation will lake plaGe with NRW on how these funds will be used.

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
FUTURE PLANS
The directors and trustees will continue to work closely with all its partners and contacts to release
additional funding that will be used to promote our aims and objective and to build on our past
successful projects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust. and constitutes 8 limited
ompany, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The Trust was established as a company limited by guarantee with each member agreeing to
contribute £1 towards the payment of any debts should the company ever be wound up and unable
to pay il in full ils liabilities. In the event of the company being wound up with a surplus of assets
after all liabilities have been met, all such surpluses will be distributed lo like-minded 'nol-for-profit"
organisations.
Decision making
The Charity is organised and policy implemented through the Board of Directors who meet every
two months.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Public Benefit delivery and charltable activities
Through the implementation of the Trusts projects which promote and actively manage
conservation, protection and improvement to the waterways, animals. plant life and public access
within the South E8St Wales rivers catchment area, there is a charitable benefit to the public.

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06339974 (England and Wales)
Registered Charity number
1145724
Reglstered office
Former Glancynon Vestry
Glancynon Terrace
Abercynon
Mountain Ash
CF45 4TG
Trustees
Mr D Baynham
MrJlMead
Mr A Rees MBE
Mr D F Roberts
Mr J Taylor
Professor R J Williams
Dr A Edwards
Mr J Gregory
Mr R G Williams
Company Secretary
Mr D Baynham
Independent examlner
Huw Palin FCA
BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
Bankers
Natwest PLC
117 Holton Road
Barry
CF63 4TD
Approved by order of the board oftrustees on
behalf by..
and signed on its
[q.i/
Mr A Rees
Truste8

Independent Examiner's Report to the Trustees of
South East Wales Rivers Trust
Independent examiner's report to the trustees of South East Wales Rivers
Trust I'the Company'l
I report lo the charity trustees on my examination of the accounts of the Company
for the year ended 31 March 2021.
Chorterod
Accovnlonts
Responsibilities and basis of report
As the charity's trustees of the Company land also its directors for the purposes of
company law) you are responsible for the preparation of the accounts in
accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required to be
audited under Pari 16 of the 2006 Act and are eligible for independent examination,
I report in respect of my examination of your charity's accounts as carried out under
section 145 of Ihe Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my
examination I have followed the Directions given by the Charity Commission under
section 14515) Ib) of the 2011 Act.
Independent examiner's ststement
I have completed my examination. I confirm that no matters have come to my
atlention in connection with the examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by
section 386 of the 2006 Act, or
the accounts do not accord with those records., or
the accounts do not comply with the accounting requirements of section 396
of the 2006 Act other than any requirement that the accounts give a true and
fair view which is not a malter considered as part of an independent
examination., or
the accounts have not been prepared in accordance with the methods and
principles of the Statement of Recommended Practice for accounting and
reporting by charities lapplicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicabl8 in the UK and
Republic of Ireland IFRS 102)].
tladnor Hous
G[eerV￿￿Qd Close
Cordi(l Gale knne5s PaTk
Cordlff CF238AA
I have no concerns and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a
proper understanding of the accounts to be reached.
Huw Palin FCA
BPU Limited
Chartered Accountants
Date..
I￿a￿￿on1
¢gmpnnyN￿mtr￿H3Y2J
AH51011*oEtoD%15(AW]b￿￿OMthI

South East Wales Rivers Trust
statement of Financial Activitie5
for the Year Ended 31 March 2021
2021
Total
funds
2020
Total
funds
Unrestricted Restricted
fund
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and Trust Income
28,557
28,557
7.036
Charitable activities
Specific Project Funding Income
274,707
274,707
131,327
Investment income
363
363
Total
28,920
274,707
303,627
138,364
EXPENDITURE ON
Specific Project Direct Costs
216,218
216,218
123,295
Charitable activities
Overheads
14,084
14,084
6,742
Total
14,084
215,218
230,302
130.037
NET INCOMEI(EXPENDITUREI
14,836
58,488
73,324
8,327
RECONCILIATION OF FUNDS
Total funds brought forward
36,959
215,040
251,999
243,672
TOTAL FUNDS CARRIED FORWARD
51,795
273,528
325,323
251,999
The notes form part of these financial statements

South Eastwales Rivers Trust
Balance Sheet
At 31 March 2021
2021
Total
funds
2020
Total
funds
Unrestricted Restricted
fund
funds
Notes
CURRENT ASSETS
Debtors
Cash at bank
17,060
36,978
17,060
310,506
4,790
252,203
273.528
54,038
273,528
327,566
258,993
CREDITORS
Amounts falling due within one year
12,243)
(2,243)
(4,994)
NET CURRENT ASSETS
51,795
273,528
325,323
251,999
TOTAL ASSETS LESS CURRENT
LIABILITIES
51,795
273.528
325,323
251,999
NET ASSETS
51,795
273,528
325,323
251,999
FUNDS
Unrestricted funds
ReslriGted funds
51,795
273,528
36,959
215,040
TOTAL FUNDS
325.323
251,999
The notes form part of these financial statements

South East Wales Rivers Trust
Balance Sheet- continued
At 31 March 2021
The charitable company is entitled to exemplion from audit under Section 477 of the Companies
Act 2006 forthe year ended 31 March 2021.
The members have not required the company lo obtain an audit of its financial statements for the
year ended 31 March 2021 in acGordanc8 Wlth Section 476 of the Companies Act 2006.
The Irustees acknowledge their responsibilities for
la) ensuring that the charitable company keeps accounting records that comply with Sections
386 and 387 of the Cornpanies Act 2006 and
Ib) preparing financial statements which give a true and fair view of the slate of affairs of the
charitable company as at the end of each financial year and of its surplus or deficit for each
financial year in accordance with the requirements of Sections 394 and 395 and which
otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the charitable company.
These financial slatemenls have been prepared in accordance with the provisions applicable to
charitable Gompanies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on
and were signed on ils behalf by..
bj
Mr A Rees thBE -Trustee
The notes form part of these financial statements

South East Wales Rivers Trust
Notes to the Financial Statements
foT the Year Ended 31 March 2021
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under
FRS 102, have been prepared in accordance with the Charities SORP {FRS 102)
'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2015),, Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland, and the Companies Act 2006. The financial slalements have been
prepared under the hislorical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these
financial statements, as permilted by FRS 102 'The Financial Reporting Standard applicable
in the UK and Republic of Ireland,:
the requirements of Section 7 Statemenl of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the Charity has
entillement to the funds and il is probable that the income will be received and the amount
can be measured reliably.
Specific Projects Funding Income is primarily received from Natural Resources Wales and
Welsh Water with the remaining project income coming from other institutions both private
and public. All Income and Donations received are in relation lo the charitvs primary
objectives as detailed on page 1 of the report of the Trustees.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive
obligation committing the charity to that expenditure, it is probable that a transfer of
economic benefits will be required in settlement and the amount of the obligation can be
measured reliably. Expenditure is accounted for on an accruals basis and has been
classified under headings that aggregate all cost related to the category. Where costs cannot
be directly attributed lo particular headings they have been allocated to activities on a basis
consistent with Ihe use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance vwth the charitable objectives at the discretion
of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for
particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the
financial slalements.
10

South East Wales Rivers Trust
Notes to the Flnancial Statements - continued
for the Year Ended 31 March 2021
INVESTMENT INCOME
2021
2020
Interest received
363
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or olher benefits for the year ended 31 March 2021
nor for the year ended 31 March 2020.
Trustees. expenses
There were no Trustee expenses paid in the year.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restrlcted
fund
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and Trust Income
7,036
7,036
Charitable activities
Specific Project Funding Income
131,327
131,327
Investment income
Total Income
7,037
131,327
138,364
EXPENDITURE ON
Raising funds
123,295
123,295
Charitable activities
Overheads
6,742
6,742
Total Expenditur8
6,742
123,295
130,037
NET INCOMEI{EXPENDITUREI
295
8,032
8.327
RECONCILIATION OF FUNDS
Total funds brought forward
36,664
207,008
243,672
TOTAL FUNDS CARRIED FORWARD
36,959
215,040
251,999

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 Pdiarch 2021
STAFF COSTS
2021
2020
Wages & salaries {all expended on direct charitable acliviliesl
Pension Cost
Social security costs (net of small employer discount}
52,888
1,025
48,176
1,445
53,913
49,621
Average number of employees
2021
Number
2020
Number
Project staff involved in direct charitable activities
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
Trade debtors
Other debtors
Prepayments and accrued income
16,010
37
1,012
3,546
1,244
4,790
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
Trade creditors
Social security and other taxes
Accruals and deferred income
269
774
1,200
2,956
1,198
840
2,243
4.994
12

South East Wales Rivers Trust
Notes to the Financial Ststements - contlnued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS
Net
movement
in funds At 3113121
At 114120
Unrestricted funds
General fund
36,959
14,836
51,795
Restrlcted Funds
Natural Resources Wales Fish Passages under
Fixed Structures (Raillrack)
Taff & Ely Alternative Mitigation (fEAMI
Welsh Water Ely and Vale Habitat Project
Welsh Water Taff Salmon Habilal Improvement
Project
River Restoration PC Lottery
WW River Cynon Project
Blaenau Gwent Fly Project
Electro Fishing
Strategic Allocation Fund
Natural Resources Wales
Miscellaneous Fund
5,360
51,564
72,786
43,686
15,360)
45,723
(8,381)
97,287
64,405
43,686
6,169
31,345
1,400
2,730
{1,413)
4,394
4,756
35,739
1,400
12,7301
15,674
9,331
1.250
15,674
9,331
1,250
215.040
58,488
273,528
TOTAL FUNDS
251,999
73,324
325,323
13

South East Wales Rivers Trust
Notes to the Flnancial Slatements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows..
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General fund
28,920
114,0841
14,836
Restricted funds
Natural Resources Wales Fish Passages
Under Fixed Structures (Raillrackl
Taff & Ely Alternative Mitigation (TEAMI
Welsh Water Ely and Vale Habitat Project
River Restoration PC Lottery
WW River CynDn Project
Electro Fishing
Strategic AIIoc8tion Fund Income
Natural Resources Wales
Surveys Control
Miscellaneous Fund
{5,3601
{5,3601
52,360
287
16,6371
18,6681
11,4131
13,8141
14,6801
1167,686)
45,723
18,3811
11,4131
4,394
12,7301
15,674
9,331
8,208
1,950
183,360
9,331
16,010
3,200
{16,010)
(1,950)
1,250
274,706
(216,2181
58,488
TOTAL FUNDS
303,626
230,3021
73,324
14

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
In funds At 3113120
At 114119
Unrestricted Funds
General fund
36,664
295
36,559
Restricted Funds
RWE Power River Thaw Project
Natural Resources Wales Fish
Passages under Fixed Structures (Railtrackl
Taff & Ely Alternative Mitigation (TEAMI
Taff Bargoed Rural Development Project
Welsh Water Ely and Vale Habitat Project
Welsh Water Taff Salmon Habitat Improvement
Project
River Restoration PC Lottery
WW River Cynon Project
Blaenau Gwenl Fly Project
Electro Fishing
17,518
117,5181
5,360
100,329
5,615
34,500
43,686
5,360
51,564
148,765>
15,615}
38,286
72,786
43,686
6,169
31,345
1,400
2,730
6,169
31,345
1,400
2,730
207,008
8,032
215,040
TOTAL FUNDS
243,672
8,327
251,999
15

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows..
Incoming Resources
resources
expended
Movement
in funds
Unrestricted funds
General fund
7,038
(6,7431
295
Restricted funds
RWE Power River Thaw Project
Taff & Ely Allernalive Mitigation ITEAMI
Taff Bargoed Rural Development Project
Welsh Water Ely and Vale Habitat Project
River Restoration Project
IW River Cynon Project
Blaenau Gwenl Fly Project
Electro Fishing
117,518
162,6681
127,9771
115,132>
{17,5181
{48,7651
15,6151
38,286
6,169
31,345
1,400
2,730
13.903
22,362
53,418
6,169
31,345
1,400
2,730
131,327
{123,295)
8,032
TOTAL FUNDS
138,365
130,038)
8,327
16

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS- continued
Information on the Restricted Funds for ongoing projects
AMOUNTS
RECEIVED
SOURCE OF
FUNDS
PURPOSE
P B Gelatins UK and
Natural Resources
Wales
Taff and Ely Alternative Mitigation ITEAMI
To improve the Rivers Taff & Ely for migratory
fish, such improvements will also be of benefit lo
other fish as well as to the biodiversity of the
Rivers
£179,209
Natural Resources
Wales
Fish Passages (River Easement) Project-
To investigate and improve areas under fixed
structures (eg bridges) where barriers to fish
movement exist.
£9,331
Welsh Water
Ely and Vale of Glamorgan Habitat Improvement
Project -
Visit Farms to check and advise on the fertilisers
and other nutrients on their farmland thal could
drain off into nearby water courses thereby
causing environmental issues within Ihe
waterways.
£87,918
Welsh Water
Taff Salmon Habitat Improvement Projecl-
To improve the habitat for migratory and other fish
in the Taff calchment area.
£43,686
Poslcode Lottery
River Restoration Project
Funding a river restoration Gourse for ten persons
lo teach them the scope of river restoration. This
is a course approved by Agored Cymru, hoping to
help them look for work.
£6,169
River Cynon Project and Fly Monitoring
Engagement with Schools and Community across
the Cynon valley to encourage the community lo
value and look after the local river, as well as Fly
Monitoring.
Welsh Water
£40,954
17

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
Natural Resources
Wales
Electro Fishing -
Funding that has enabled the training of three
project officers and four competent persons on
how lo monitor fish populations. All the data helps
to assess the health of Ihe river and its flora and
Fauna.
£4,680
strategic Allocation
Fund
SAF-
Funding that has enabled the continuation of work
lo improve and protect the rivers throughout the
SEWRT area.
£230,360
Miscellaneous Fund
mis￿lIaneouS Fund-
Derived from pollution incidenls where a company
or person commits an offence under the current
regulations that causes damage to the
environment. These fines are used to help expand
SEWRT.
£3,200
18

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
11. MEMBERS FUNDS
The liabilily of Ihe members is limited to £1 during membership or within one year after
ceasing to be a member.
19

South East Wales Rivers Trust
Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
2021
2020
INCOME AND ENDOWMENTS
Donations and Trust Incomo
Donations
Administration of Funds Income
45
6,991
28,557
Investment income
Interest received
362
Charitable activities
Specific Project Funding Income
274,707
131327
Total incoming resources
303,626
138,365
EXPENDITURE
Direct Project Costs
Payment to organisalions carrying oul the specific project work
216,218
123,295
Support costs
Overheads
Insurance
Meeting costs
Sundries
Subscriptions and Donations
Printing and Stationery
Accountancy and Bookkeeping fe8S
Property costs
Broadband and IT software
Travel costs
Consultancy
Advertising and marketing
Legal expenses
Repairs and maintenance
Protective Clothing
1,019
977
60
351
188
82
2,236
685
750
388
1,026
728
320
5,357
768
622
4.569
13
42
645
14,084
S,742
Total resources expended
230,302
13L),037
Net incomel(expendilure}
73,324
8,327
This page does not form part of the statutory financial statements
20

REGISTERED COMPANY NUMBER: 06339974 (England and Wales}
REGISTERED CHARITY NUMBER: 1145724
Chtsrtered
Accountants
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2021
for
South. East Wales Rivers Trust
Rodntr Hou
Greenwooo close
Coiditf Gol$ Bu5in8M Pork
Cardiff CFYJ 8AA
BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
ACCO￿￿1&1￿Ew￿or￿vth>.
R•Tr5￿r￿dInWt￿5

South East Wales Rivers Trust
Contents of the Financial Statements
for the Year Ended 31 March 2021
Page
Report ofthe Trustees
1 to5
Independent Examinerfs Report
Slalement of Financial Activities
Balance Sheet
8t09
Notes to the Financial Statements
101019
Detailed Statement of Financial Aolivilies
20

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
The trustees who are also direGlors of the charity for the purposes of Ihe Companies Act 2006,
present their report with the financial statements of the charity for the year ended 31 March 2021.
The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are those of promoting the conseNation, protection and improvement
of the waterways within the South East Wales catchment area together with that of the indigenous
species of animal and plant life in such waterways. In doing so, the charity will undertake to
advance the educalion of the public in the needs and requirements of aquatic habitats and support
the social and economic regeneration of the catchments by engendering the sustainable use of the
rFver valleys and the associated environment with benefits lo the region's economy. social
well-being, tourism and regeneration. The charity will act as a focal point and coordinator belween
similar organisalions and with the national authorities to achieve these goals.

South East Wales Rivers Trust
Report of the Trustee5
for the Year Ended 31 March 2021
ACHIEVEMENT AND PERFORMANCE
Business Review for the Year
The start of the new financial year, that we were anticipating as one to look foNard to, quickly
became one that looking back we will want to forget. In common with all organisations the
lockdown did affect us. Some parts of our programme were affected more than others. Brexit has
also caused us lo stop our Eels in the Classroom project. We could not continue it in 2021.
The Taff Bargoed Rural Development Project came to an end in March 2020 Before completion
we had, as previously posted, further funding from Welsh Water and the Penycymoedd Wind Fami
Community Fund. We have called this River Cynon Project. The project was due to start on the
51of
31 March 2020, but the govemment restrictions and lockdown made this impossible. As it was a
community project that required working with Schools, Community Groups, and close meetings
with people we had to furlough the member of staff that was running the project.
We had increased the scope of the project by working with an organisationlcharity called Salmon
and Trout Conservation who have a branch in Wales to join the River Cynon on to Iheir Smart
Rivers Project. This project has gained National recognition for using a programme called River Fly
monitoring, normally carried out as part of citizen science but Smart Rivers takes this to a higher
level. Samples are taken twice a year for monitoring and then analysed by a senior scientist. As
this work was outdoors, we were able to undertake the initial start to the project. The first samples
were taken in 202010 set it up. It will continue in 2021.
Another part of the Cynon Project was for the SEWRT to run River Restoration Courses. We were
able to run one of these when restrictions relaxed, by working with candidates online and using
outdoor classroom facilities. Our Project Offi￿[ delivered the Agored Cymru qualificalion for the
trust. We enrolled ten candidates., seven candidates studied logether in an outdoor classroom
setting at Cynon Valley Organic Adventures in Abercynon. The other three candidates all studied
remotely with regular contact with the tutor virtually and met up at distance for the practical
elements of the qualificatiDn.
The candidates have studied.. Preparing to work on Rivers, Health and Safety for work outdoors,
River environments and human impact, and carrying out a walkover survey. The candidates were
taught how to work safely when working in river environments,. learned to identify native species
found in a healthy river system., lo idenlify non-native invasive species. and the process of kick
sampling for river fly invertebrates.
Nine of the len candidates have now successfully passed and received certificates for the
qualification. One candidate has some work outstanding due lo the lockdown restrictions but will
complete in due course. At least three of the candidates will progress to our Smart Rivers course in
the Spring.
During 2019 NRW one of our main partners, concluded their move to creating seven areas in
Wales. The Trust area previously covered what was the Eastern valleys that encompassed.. from
the Ebbw in the east to the Ely in the west, lo which we added the river Thaw. NRW have now
changed their area structure and the Trust now work in what is their South-cenlral Area as well.
This area now covers the river systems out to the river Kenfig. However in the East we have
retained the Valley Rivers under our umbrella, even though some have now moved into a different
NRW area. The result of this has seen the SEWRT break new ground with those angling
associations and landowners in the area. Due to restrictions progress was slow in making contacts
but this will improve. This can help to increase our volunteer base, introduce local groups to the
benefil of the river on their doorstep, with the added advantage they will look after the river long
term in their local area. A small balance left in this fund will be spent in 20221-22. We have been
through an audit with NRW consultants on this.

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
ACHIEVEMENT AND PERFORMANCE
Business Review for the Year
During 2020 Afonydd Cymru the overarching Rivers Trust body in Wales. Working with NRW who
were in discussions with Welsh Government, obtained funding for all the rivers trust in Vvales from
July 20 to March 21 This was called the SAF project (strategic Allocation Fund). SEWRT
benefited from this, and we were able lo carry out nine habitat Fencing projecls and, fifteen
Easement projects. Three hundred trees were plant. This has helped us to build up an increasing
relationship with landowners across the Trust area. So important if we are to function. The works
carried out will benefit all fish populations, improve water quality in our rivers so important for
human health as well as the environment.
The Trust ran in conjunction with the Institute of Fisheries management an Electro Fishing Course.
Twelve candidates look part from various trusts and other interested parties in the two-day course.
They all successfully passed. The Trust now has three employees competent to carry out this
work. Electro Fishing is used to monitor fish populations. This can see an increase or a decrease
depending on many factors. All this then has a bearing on what we spend our funding on in the
future.
During autumn 2020 we bid for funding to work on surveys on rivers in the Trust area. The survey
was commissioned by NRW. Many of the main rivers had already been surveyed so this was
aimed at other smaller tributaries and headwalers on those river systems. When surveying we look
at such things as,. Where fencing could make a benefit.. whether any barriers need removing or
work carried out on Ihem lo ease the passage of fish.. Tree Planting.. Any polluting inputs.. gravel
areas for fish to spawn.. Invasive species such as knotweed.. whether the riverbank is natural or
modified.. The resulls obtained were written into reports and passed to NRW. NRW the Trust and
possibly other environmental bodies will use the information to further progress actions identified in
the reports to improve and maintain the quality of these important areas. The funding was due for
payment in March 21 when the surveying was completed bul due to NRW being late in making the
payment it did not come in until April 21. We used Core funds to pay wages and expenses for this
project. The sum received was £30,036 with £16,010 being spent We have used some of the
funding remaining to carry out further Surveys in 21.
Miscellaneous funds are derived from pollution incidents where a company or Person, mainly
companies sometimes offer, when they commit an offence under the current regulations that
causes minor damage to the environment, some funds to mitigate the damage. This is then used
to help us expand. Training people on monitoring out of this fund enables us to keep a watching
brief by doing more monitoring.
We have been informed of a new round of SAF funding for 2021-2022. This will enable us to
continue with our work to improve and protect the rivers and adjacent areas throughout the
SEWRT area.
We also had payment of whal are called mitigation Funds that had previously been paid to us into
the Team Fund. These were paid in late March and are to be used for specified projects during 21
-22. Consultation will lake plaGe with NRW on how these funds will be used.

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
FUTURE PLANS
The directors and trustees will continue to work closely with all its partners and contacts to release
additional funding that will be used to promote our aims and objective and to build on our past
successful projects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust. and constitutes 8 limited
ompany, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The Trust was established as a company limited by guarantee with each member agreeing to
contribute £1 towards the payment of any debts should the company ever be wound up and unable
to pay il in full ils liabilities. In the event of the company being wound up with a surplus of assets
after all liabilities have been met, all such surpluses will be distributed lo like-minded 'nol-for-profit"
organisations.
Decision making
The Charity is organised and policy implemented through the Board of Directors who meet every
two months.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Public Benefit delivery and charltable activities
Through the implementation of the Trusts projects which promote and actively manage
conservation, protection and improvement to the waterways, animals. plant life and public access
within the South E8St Wales rivers catchment area, there is a charitable benefit to the public.

South East Wales Rivers Trust
Report of the Trustees
for the Year Ended 31 March 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06339974 (England and Wales)
Registered Charity number
1145724
Reglstered office
Former Glancynon Vestry
Glancynon Terrace
Abercynon
Mountain Ash
CF45 4TG
Trustees
Mr D Baynham
MrJlMead
Mr A Rees MBE
Mr D F Roberts
Mr J Taylor
Professor R J Williams
Dr A Edwards
Mr J Gregory
Mr R G Williams
Company Secretary
Mr D Baynham
Independent examlner
Huw Palin FCA
BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
Bankers
Natwest PLC
117 Holton Road
Barry
CF63 4TD
Approved by order of the board oftrustees on
behalf by..
and signed on its
[q.i/
Mr A Rees
Truste8

Independent Examiner's Report to the Trustees of
South East Wales Rivers Trust
Independent examiner's report to the trustees of South East Wales Rivers
Trust I'the Company'l
I report lo the charity trustees on my examination of the accounts of the Company
for the year ended 31 March 2021.
Chorterod
Accovnlonts
Responsibilities and basis of report
As the charity's trustees of the Company land also its directors for the purposes of
company law) you are responsible for the preparation of the accounts in
accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l.
Having satisfied myself that the accounts of the Company are not required to be
audited under Pari 16 of the 2006 Act and are eligible for independent examination,
I report in respect of my examination of your charity's accounts as carried out under
section 145 of Ihe Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my
examination I have followed the Directions given by the Charity Commission under
section 14515) Ib) of the 2011 Act.
Independent examiner's ststement
I have completed my examination. I confirm that no matters have come to my
atlention in connection with the examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by
section 386 of the 2006 Act, or
the accounts do not accord with those records., or
the accounts do not comply with the accounting requirements of section 396
of the 2006 Act other than any requirement that the accounts give a true and
fair view which is not a malter considered as part of an independent
examination., or
the accounts have not been prepared in accordance with the methods and
principles of the Statement of Recommended Practice for accounting and
reporting by charities lapplicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicabl8 in the UK and
Republic of Ireland IFRS 102)].
tladnor Hous
G[eerV￿￿Qd Close
Cordi(l Gale knne5s PaTk
Cordlff CF238AA
I have no concerns and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a
proper understanding of the accounts to be reached.
Huw Palin FCA
BPU Limited
Chartered Accountants
Date..
I￿a￿￿on1
¢gmpnnyN￿mtr￿H3Y2J
AH51011*oEtoD%15(AW]b￿￿OMthI

South East Wales Rivers Trust
statement of Financial Activitie5
for the Year Ended 31 March 2021
2021
Total
funds
2020
Total
funds
Unrestricted Restricted
fund
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and Trust Income
28,557
28,557
7.036
Charitable activities
Specific Project Funding Income
274,707
274,707
131,327
Investment income
363
363
Total
28,920
274,707
303,627
138,364
EXPENDITURE ON
Specific Project Direct Costs
216,218
216,218
123,295
Charitable activities
Overheads
14,084
14,084
6,742
Total
14,084
215,218
230,302
130.037
NET INCOMEI(EXPENDITUREI
14,836
58,488
73,324
8,327
RECONCILIATION OF FUNDS
Total funds brought forward
36,959
215,040
251,999
243,672
TOTAL FUNDS CARRIED FORWARD
51,795
273,528
325,323
251,999
The notes form part of these financial statements

South Eastwales Rivers Trust
Balance Sheet
At 31 March 2021
2021
Total
funds
2020
Total
funds
Unrestricted Restricted
fund
funds
Notes
CURRENT ASSETS
Debtors
Cash at bank
17,060
36,978
17,060
310,506
4,790
252,203
273.528
54,038
273,528
327,566
258,993
CREDITORS
Amounts falling due within one year
12,243)
(2,243)
(4,994)
NET CURRENT ASSETS
51,795
273,528
325,323
251,999
TOTAL ASSETS LESS CURRENT
LIABILITIES
51,795
273.528
325,323
251,999
NET ASSETS
51,795
273,528
325,323
251,999
FUNDS
Unrestricted funds
ReslriGted funds
51,795
273,528
36,959
215,040
TOTAL FUNDS
325.323
251,999
The notes form part of these financial statements

South East Wales Rivers Trust
Balance Sheet- continued
At 31 March 2021
The charitable company is entitled to exemplion from audit under Section 477 of the Companies
Act 2006 forthe year ended 31 March 2021.
The members have not required the company lo obtain an audit of its financial statements for the
year ended 31 March 2021 in acGordanc8 Wlth Section 476 of the Companies Act 2006.
The Irustees acknowledge their responsibilities for
la) ensuring that the charitable company keeps accounting records that comply with Sections
386 and 387 of the Cornpanies Act 2006 and
Ib) preparing financial statements which give a true and fair view of the slate of affairs of the
charitable company as at the end of each financial year and of its surplus or deficit for each
financial year in accordance with the requirements of Sections 394 and 395 and which
otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the charitable company.
These financial slatemenls have been prepared in accordance with the provisions applicable to
charitable Gompanies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on
and were signed on ils behalf by..
bj
Mr A Rees thBE -Trustee
The notes form part of these financial statements

South East Wales Rivers Trust
Notes to the Financial Statements
foT the Year Ended 31 March 2021
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under
FRS 102, have been prepared in accordance with the Charities SORP {FRS 102)
'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2015),, Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland, and the Companies Act 2006. The financial slalements have been
prepared under the hislorical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these
financial statements, as permilted by FRS 102 'The Financial Reporting Standard applicable
in the UK and Republic of Ireland,:
the requirements of Section 7 Statemenl of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the Charity has
entillement to the funds and il is probable that the income will be received and the amount
can be measured reliably.
Specific Projects Funding Income is primarily received from Natural Resources Wales and
Welsh Water with the remaining project income coming from other institutions both private
and public. All Income and Donations received are in relation lo the charitvs primary
objectives as detailed on page 1 of the report of the Trustees.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive
obligation committing the charity to that expenditure, it is probable that a transfer of
economic benefits will be required in settlement and the amount of the obligation can be
measured reliably. Expenditure is accounted for on an accruals basis and has been
classified under headings that aggregate all cost related to the category. Where costs cannot
be directly attributed lo particular headings they have been allocated to activities on a basis
consistent with Ihe use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance vwth the charitable objectives at the discretion
of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for
particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the
financial slalements.
10

South East Wales Rivers Trust
Notes to the Flnancial Statements - continued
for the Year Ended 31 March 2021
INVESTMENT INCOME
2021
2020
Interest received
363
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or olher benefits for the year ended 31 March 2021
nor for the year ended 31 March 2020.
Trustees. expenses
There were no Trustee expenses paid in the year.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restrlcted
fund
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and Trust Income
7,036
7,036
Charitable activities
Specific Project Funding Income
131,327
131,327
Investment income
Total Income
7,037
131,327
138,364
EXPENDITURE ON
Raising funds
123,295
123,295
Charitable activities
Overheads
6,742
6,742
Total Expenditur8
6,742
123,295
130,037
NET INCOMEI{EXPENDITUREI
295
8,032
8.327
RECONCILIATION OF FUNDS
Total funds brought forward
36,664
207,008
243,672
TOTAL FUNDS CARRIED FORWARD
36,959
215,040
251,999

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 Pdiarch 2021
STAFF COSTS
2021
2020
Wages & salaries {all expended on direct charitable acliviliesl
Pension Cost
Social security costs (net of small employer discount}
52,888
1,025
48,176
1,445
53,913
49,621
Average number of employees
2021
Number
2020
Number
Project staff involved in direct charitable activities
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
Trade debtors
Other debtors
Prepayments and accrued income
16,010
37
1,012
3,546
1,244
4,790
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
2020
Trade creditors
Social security and other taxes
Accruals and deferred income
269
774
1,200
2,956
1,198
840
2,243
4.994
12

South East Wales Rivers Trust
Notes to the Financial Ststements - contlnued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS
Net
movement
in funds At 3113121
At 114120
Unrestricted funds
General fund
36,959
14,836
51,795
Restrlcted Funds
Natural Resources Wales Fish Passages under
Fixed Structures (Raillrack)
Taff & Ely Alternative Mitigation (fEAMI
Welsh Water Ely and Vale Habitat Project
Welsh Water Taff Salmon Habilal Improvement
Project
River Restoration PC Lottery
WW River Cynon Project
Blaenau Gwent Fly Project
Electro Fishing
Strategic Allocation Fund
Natural Resources Wales
Miscellaneous Fund
5,360
51,564
72,786
43,686
15,360)
45,723
(8,381)
97,287
64,405
43,686
6,169
31,345
1,400
2,730
{1,413)
4,394
4,756
35,739
1,400
12,7301
15,674
9,331
1.250
15,674
9,331
1,250
215.040
58,488
273,528
TOTAL FUNDS
251,999
73,324
325,323
13

South East Wales Rivers Trust
Notes to the Flnancial Slatements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows..
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General fund
28,920
114,0841
14,836
Restricted funds
Natural Resources Wales Fish Passages
Under Fixed Structures (Raillrackl
Taff & Ely Alternative Mitigation (TEAMI
Welsh Water Ely and Vale Habitat Project
River Restoration PC Lottery
WW River CynDn Project
Electro Fishing
Strategic AIIoc8tion Fund Income
Natural Resources Wales
Surveys Control
Miscellaneous Fund
{5,3601
{5,3601
52,360
287
16,6371
18,6681
11,4131
13,8141
14,6801
1167,686)
45,723
18,3811
11,4131
4,394
12,7301
15,674
9,331
8,208
1,950
183,360
9,331
16,010
3,200
{16,010)
(1,950)
1,250
274,706
(216,2181
58,488
TOTAL FUNDS
303,626
230,3021
73,324
14

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
In funds At 3113120
At 114119
Unrestricted Funds
General fund
36,664
295
36,559
Restricted Funds
RWE Power River Thaw Project
Natural Resources Wales Fish
Passages under Fixed Structures (Railtrackl
Taff & Ely Alternative Mitigation (TEAMI
Taff Bargoed Rural Development Project
Welsh Water Ely and Vale Habitat Project
Welsh Water Taff Salmon Habitat Improvement
Project
River Restoration PC Lottery
WW River Cynon Project
Blaenau Gwenl Fly Project
Electro Fishing
17,518
117,5181
5,360
100,329
5,615
34,500
43,686
5,360
51,564
148,765>
15,615}
38,286
72,786
43,686
6,169
31,345
1,400
2,730
6,169
31,345
1,400
2,730
207,008
8,032
215,040
TOTAL FUNDS
243,672
8,327
251,999
15

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows..
Incoming Resources
resources
expended
Movement
in funds
Unrestricted funds
General fund
7,038
(6,7431
295
Restricted funds
RWE Power River Thaw Project
Taff & Ely Allernalive Mitigation ITEAMI
Taff Bargoed Rural Development Project
Welsh Water Ely and Vale Habitat Project
River Restoration Project
IW River Cynon Project
Blaenau Gwenl Fly Project
Electro Fishing
117,518
162,6681
127,9771
115,132>
{17,5181
{48,7651
15,6151
38,286
6,169
31,345
1,400
2,730
13.903
22,362
53,418
6,169
31,345
1,400
2,730
131,327
{123,295)
8,032
TOTAL FUNDS
138,365
130,038)
8,327
16

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
MOVEMENT IN FUNDS- continued
Information on the Restricted Funds for ongoing projects
AMOUNTS
RECEIVED
SOURCE OF
FUNDS
PURPOSE
P B Gelatins UK and
Natural Resources
Wales
Taff and Ely Alternative Mitigation ITEAMI
To improve the Rivers Taff & Ely for migratory
fish, such improvements will also be of benefit lo
other fish as well as to the biodiversity of the
Rivers
£179,209
Natural Resources
Wales
Fish Passages (River Easement) Project-
To investigate and improve areas under fixed
structures (eg bridges) where barriers to fish
movement exist.
£9,331
Welsh Water
Ely and Vale of Glamorgan Habitat Improvement
Project -
Visit Farms to check and advise on the fertilisers
and other nutrients on their farmland thal could
drain off into nearby water courses thereby
causing environmental issues within Ihe
waterways.
£87,918
Welsh Water
Taff Salmon Habitat Improvement Projecl-
To improve the habitat for migratory and other fish
in the Taff calchment area.
£43,686
Poslcode Lottery
River Restoration Project
Funding a river restoration Gourse for ten persons
lo teach them the scope of river restoration. This
is a course approved by Agored Cymru, hoping to
help them look for work.
£6,169
River Cynon Project and Fly Monitoring
Engagement with Schools and Community across
the Cynon valley to encourage the community lo
value and look after the local river, as well as Fly
Monitoring.
Welsh Water
£40,954
17

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
Natural Resources
Wales
Electro Fishing -
Funding that has enabled the training of three
project officers and four competent persons on
how lo monitor fish populations. All the data helps
to assess the health of Ihe river and its flora and
Fauna.
£4,680
strategic Allocation
Fund
SAF-
Funding that has enabled the continuation of work
lo improve and protect the rivers throughout the
SEWRT area.
£230,360
Miscellaneous Fund
mis￿lIaneouS Fund-
Derived from pollution incidenls where a company
or person commits an offence under the current
regulations that causes damage to the
environment. These fines are used to help expand
SEWRT.
£3,200
18

South East Wales Rivers Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
11. MEMBERS FUNDS
The liabilily of Ihe members is limited to £1 during membership or within one year after
ceasing to be a member.
19

South East Wales Rivers Trust
Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
2021
2020
INCOME AND ENDOWMENTS
Donations and Trust Incomo
Donations
Administration of Funds Income
45
6,991
28,557
Investment income
Interest received
362
Charitable activities
Specific Project Funding Income
274,707
131327
Total incoming resources
303,626
138,365
EXPENDITURE
Direct Project Costs
Payment to organisalions carrying oul the specific project work
216,218
123,295
Support costs
Overheads
Insurance
Meeting costs
Sundries
Subscriptions and Donations
Printing and Stationery
Accountancy and Bookkeeping fe8S
Property costs
Broadband and IT software
Travel costs
Consultancy
Advertising and marketing
Legal expenses
Repairs and maintenance
Protective Clothing
1,019
977
60
351
188
82
2,236
685
750
388
1,026
728
320
5,357
768
622
4.569
13
42
645
14,084
S,742
Total resources expended
230,302
13L),037
Net incomel(expendilure}
73,324
8,327
This page does not form part of the statutory financial statements
20