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Trustees Annual Report & Financial Statements for the Year Ended 31[st] March 2022

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. 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 2021 -2022 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 On the 1st March 2022 Andy Schofield was appointed as CEO on a two days per week contract for six months to be reviewed at the end August 2022. Andy has a wide-ranging knowledge of Fisheries and rivers in the trust area having previously worked for National River Authority and EA Wales and NRW.

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 2021 / 2022, and we are very grateful for their help:

Viscount Christopher Mills Chairman Gail Davies CEO 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 consists of the Chairman or CEO from each Trust in Wales under the guidance of Viscount Mills Chairman. CEO is Gail Walsh Davies. Gail was previously Environment Manger with Dwr Cymru Welsh Water. Gail is employed currently on a Part time basis. She continues in her role as CEO of Afonydd Cymru to work to improve the outlook and role of the other Trusts with funding applications.

5. Organisation

Board of Trustees

Projects Group

Project Director, Chairman, CEO, 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. Andy Schofield has now joined this group.

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 2021 -22 meetings were mostly remote and mainly our work was carried out by E:mail and response. Our work was still curtailed until the end of this financial year. We will probably going forward rely more on remote meetings.

6. Key People

The Trust benefits from having a small group of experienced volunteers willing to provide their skills as needed. Environment and Habitats: Brian Walkley, Tony Rees, John Coombs Keith Jones, Jesse Pugh.

Finance: Michael Bishop former Accountant:

Our Staff: Andy Schofield CEO joined March 22, Project officers Paul Kent and Alyssia Thomas, Gareth Edge.

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: (Tony Rees, Brian Walkley, Keith Jones John Coombs Gareth Edge our project officer River Cynon Project. The Cynon Project is Part Funded by Welsh Water and Penycymoedd Windfarm funding.

We also use the services of Merthyr Tydfil Borough Council Biodiversity staff. As well as other council staff in the areas covered by the trust. Work by all the above has been restricted due to covid regulations however at the time of this report things have improved work has returned to almost normal and the indications are that all Covid restrictions will be lifted.

Communications and publicity: have been dealt with by the Chairman in 2021-2022. With the CEO taking on extra publicity since working with us.

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 2021/22

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.
Develop fundraising capacity within the Trust. This was very badly curtailed in 2021.
We were able to Maintain involvement with community partnerships and local and national bodies. However covid restrictions meant any meaningful progress was not possible. However by running online courses we were able to develop our Cynon Project
Further develop policies, procedures, and operating practices as a priority.
Maintain active involvement with Afonydd Cymru and the other Rivers Trusts working in partnership wherever possible.

Progress the use of the European Marine Fishery Fund.
Work closely with Natural Resources Wales to carry out work on the Taff Mitigation Project. As well as their Strategic Allocation Fund 2
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. We have also worked with the local wildlife trust on the introduction of Water Vole an endangered species.
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.
Work on the new funding from Welsh Assembly Government through Natural Resources Wales.

Performance in Delivering Goals.

The River Cynon Project continued in 2021. Although covid curtailed the start of the Project by the end of March 2021 the funders were pleased with progress. This has further progressed in 21-22 with some substantial work being carried out to catch up. It ends at the 31[st] March 2023.We are already looking at a future project.
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.
Active involvement with Afonydd Cymru is resulting in promising prospects for 2022 and beyond.
Difficulties with weather and procurement and covid still held work up on projects with Afonydd Cymru and others but an extension has been applied for and granted to September 21 this has now been completed

8. Plans for 2022/23

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 We will need to complete the Post Code Lottery project by July 22. Both will link into the river Cynon Project to help advance the knowledge of volunteers working on this. Our Funders Vattenfall Wind Farm have been understanding in allowing the funding from 2020 to 23 to roll over to 2024. Afonydd Cymru is working with Natural Resources Wales on increased funding across Wales to bring our rivers up to a higher standard.

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 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 be able to cover staff redundancy should this be necessary. The Trust will also try to maintain a level in reserve to cover one year’s core costs. The Trust works on the principle of carrying out environment work as a third party. This funding comes from various sources and full cost recovery is built into any work we receive funding for. A management fee is allowed, and this is used for our core funding. Working like this 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. We do not engage any contractors or sign up to any work being carried out for us until the funding is assured. 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.

15.Financial Statement of Accounts

The financial statement for year 2021/22 has been submitted to companies House and the Charities Commission separately.

REGISTERED COMPANY NUMBER: 06339974 {England and Wales) REGISTERED CHARITY NUMBER: 1145724 Chaileied Accounlonts Report of the Truslees and Flnanclal Statements for the Year Ended 31 March 2022 for South East Wales Rivers Trust ftodnoi NoLlSe Gieenwo(tS Close Coidltt Gole buj$$ FY]Ik CoKOill CF23 BAA BPU Limited Chartered Accountants Radnor House Greenwood Close Cardiff Gate Business Park Cardiff CF23 8AA In11wLKon(*lUIÈ04or¢}rQtyQ 01 knE51rrEn1 by lnEgdQndIIJ1fjS bw a liodirorrnpol Wilc tsr6cIois L)usln8ss ,')olential L'nleashed

South East Wales Rivers Trust Contents of the Financlal Statements for the Year Ended 31 March 2022 Page Report of thè Trustees Independent Examiner's Report Statement of Finanelal Actlvities Balancè Sheet Notes to the Financial Statements 9 to 18 Detalled Statement of Flnanclal Actlvltles 19

South East Wales Rivers Trust Report of the Trustees for the Year Ended 31 March 2022 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019}. OBJECTIVES AND ACTIVITIES Objectlves and alms The objectives of the charity are those of promoting the conseNalion, 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 lo advan the education of the public in the needs and requirements of aquatic habilals and support the social and economic regeneration of the catchments by engendering the sustainable use of the river valleys and the associated environment with benefits to the region's economy, social well-being, tourism and regeneration. The charity will act as a focal point and coordinator between similar organisations and with the national authorities to achieve these goals.

South East Wales Rivers Trust Report of the Trustees for the Year Ended 31 March 2G'22 ACHIEVEMENT AND PERFORMANCE Business Review for the Year For the second year running the Trust eXperIend the fallout from Covid with slow progress in some areas of work. This was mainly confined to work with community groups and schools and restrictions on holding meetings. However, the use of the internet for meetings had become more acceptable and will form part of our ongoing way of working. Saving Directors, time and money. Our River Cynon Project was one that had seen slow progress, but as restrictions on outdoor meetings were lifted this enabled us more scope to work with schools and community Groups. Part of this project was an in depth look at monitoring river life {Smart Rivers) and this ¢onlinued. Volunteers were able to join in on this. The samples taken were successfully identified and aGcepted by the assessor Trout and Salmon. There is one more year for this run. We successfully ran more River Restoration Courses which all the candidates passed. To achieve this they carried out the following.. 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., to identify non-native invasive species., and the process of kick sampling for rirfer fly invertebrates. Certificates were awarded to those who were successful. River Fly Monitoring is an importanl part of monitoring river quality. Currently there is only one local qualified person to teach this. We are looking to organise a Tutor training course during 2022. Natural Resources Wales wilh funding from the Welsh Assembly Government has given us substantial funding during 21-22 to improve our river systems. The funding called SAF 2 covers.. Removal where possible of barriers to fish migration to improve fish stocks. Where removal is not possible then to create a passage past these obstacles. The fencing off of riverbanks to stop animals such as cattle from causing bank erosion. The planting of Trees and the g@neral improv8ment to biodiversity along our river Gorridors. We also carried out some spraying for the eradication of Invasive weeds. As this funding covers all the Trust area it now allows us to expand our work over the whole of it. During winter 2021 we again carried out river surveys. This work was essential to pinpoint the best areas to spend our funding, giving us and the project the most benefit for the funds spent. We have also been working with Afonydd Cyrnru and Welsh Water on the introduction of Gravels into the Taff River system. Gravels are important as fish use them as the median in which to lay their eggs. Successful breeding is a prerequisite to a healthy fish population. During March 22 we engaged a ¢onsultant to act as our CEO for six months. This will be looked at again in August 22 when we hope to be able to create a permanent position. In the short time he was with us in March his services have greatly helped us. Our finances are currenlly strong. We have created a reserye fund as a small back up in case of redundancies. We will look to continually add to this fund over the years. Looking forward we are being offered a two-year funding stream through the SAF fund called SAF 3 for working to improve the rivers in the Trust area. This will help to secure the jobs of Iwo of our proj8Ct officers. We rely mainly on Granls and external funding for the work we carry out. The work is done by ontractors. This enables the Trust to have a tight control over finance. The contractors must produ their own liability insurance and docurnentation. This takes many responsibilities from the Trust.

South East Wales Rlvers Trust Report of the Trustees for the Year End8d 31 March 2022 FUTURE PLANS The directors and trustees will continue to work closely with all its partners and contacts to release additional funding Ihal 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 trusl, and constitutes a limited company, limited by guarante8, as defined by the Companies Act 2006. Organisational struFture 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 its 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 to like-minded 'not-for-profiV' organisations. Decision making The Charity is organised and policy implemented through the Board of Directors who meet every two months. Public Benefit delivery and charitable 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 Easl Wales rivers catchment area, there is a Gharitable benefil to the public. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06339974 (England and Wales) Registered Charity number 1145724 Registered office Stand Alone Shop Unit 5. Taffs Fall Road Treforest Industrial Eslats Pontypridd CF37 5TT Trustees Mr D Baynham MrJlMead MrA Rees MBE Mr D F Roberts (Resigned 23 May 2022) Mr J Taylor Professor R J Williams Dr A Edwards (Resigned 23 May 2022} Mr J Gregory Mr R G Vvilliams

Soulh East Wal•s Rlvors Trust Roport of tho Trustees lor the Year Endod 31 March 2022 REFERENCE AND ADMINISTRATIVE DETAIL8 Company Secretary Mr D Baynham Indopondenl Examlnor Huw PalSn ACA BPU Llmited Chart8r8d Accountants Radnor Hous& Greenwood Close Cardiff Gote Business Park Cardiff CF23 8AA Bankers Natwest PLC 117 Hollon Road Barry CF63 4TD Approved by order of the board of trustees on .. ! { I b8holf by., and slgned on Its MrARèesM E - Trustee

Independent Examiner's Report to the Trustees of South East Wales River5 Trust Independent examlnor's report to the trusteos of South East Wales Rivers Trust I'the Company, I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. Charfered Accounlanls Responsibilitles and basis of report As the charity's trustees of the Company (and also its directors for Ihe purposes of company law) you are rèsponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act'i. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independenl examination, I report in respect of my examinalion of your charity's accounts as carried out Linder Section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examinalion. I confirm that no matters have come to my altenlion in connection with the examination giving me cause lo believe- accounting records were not k8pt 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 accounls give a true and fair view which is not a matter ¢onsidered as part of an independent examination., or the accounts havè not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing Iheir accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. ftodnu 59 Gteenwocé C105e C[[ Gole Bltsiness Patk Coidlll CF?3 8A I have no concerns and have come across no other matters in connection wilh the examination to which attention should be drawn in this report in order to enable proper understanding of the accounts to be reached. Huw Palin FCA BPU Limited Chartered Accountants Date.. cMrt•ifrdAtCCvJWan1$1S 110(neA BFULld tuYwnyM'rnb8rJ723918 eg1st¢roalnWul8s. lryul1lec•FKellb. uslness polenllal ijnleashed

South East Walos Rivers Trust statement of Flnancial Actlvlties for the Year Ended 31 March 2022 2022 Total funds 2021 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 19,224 19,224 28.557 Charitable activlties Grants received 191,791 191,791 274,707 Investment income 1,037 1,037 362 Total 20,261 191,791 212,052 303,626 EXPENDITURE ON Raising funds 187,248 187,248 218,218 other 9,853 9,853 14,084 Total 9,853 187,248 197,101 230,302 NET INCOME 10,408 4.543 14,951 73,324 RECONCILIATION OF FUNDS Total funds brought forward 51,794 273,528 325,322 251,998 TOTAL FUNDS CARRIED FORWARD 62,202 278,071 340,273 325,322 The notes form part of these financial statements

South East Wales Rivers Trust Balancè Sheet 31 March 2022 2022 Total funds 2021 Total funds Unrestricted Restricted fund funds Notes CURRENT ASSETS Debtors Cash at bank I,OS5 64,290 1,055 342,361 17,060 310,506 278,071 66,309 278.071 343,416 327,565 CREDITORS Amounts falling due within one year (3,143) (3,143) {2,2431 NET CURRENT ASSETS 62,202 278,071 340,273 325,322 TOTAL ASSETS LESS CURRENT LIABILITIES 62,202 278,071 340,273 325,322 NET ASSETS 62,202 278,071 340,273 325,322 FUNDS Unrestricted funds Restricted funds 62,202 278,071 51,794 273,528 TOTAL FUNDS 340,273 325,322 The charitable company is entitled to exemption from audit under S8dion 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Seclion 476 ofthe Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring thal the charilable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state 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 Iha requirements of Sections 394 and 395 and which otherwise comply wilh the requirements of the Companies A¢t 2006 relating lo financial statemènls, sa far as applicable to the ¢haritabl8 company. The notes form part of these financial statements ¢ontinued...

South East Wales Rlvers Tyust Balanco Sheet . contlnued 31 March 2022 These flnanclal statements have been prepared In accordance wllh the pr.ovlslons applicable to char118ble companles subject to the small companies reglme. The financial statèments were approved by the Board of Trustees and authorlsed for issue on and were slgned on Its behalf by,. MrARoe MBE - Trustee The notes form part-of these financial statemenls

South East Wales Rivers Trust Notes to the Financial Statements for the Year Ended 31 March 2022 ACCOUNTING POLICIES Basis of Preparing the flnanclal 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 1 Q2) 'Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Flnancial reporting standard 102- reducod disclosure exernptlons The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting standard applicable in Ihe UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. Income All income is recognised in the Statement of Financial Activitles once the charity has entitlement to the funds and it is probable that the income will be received and the amount can be measured reliably. Speclfic Projects Funding Income is primarily received from Natural Resources Wale5 and Welsh Water with the remaining project income coming from other institutions both private and publiG. All Income and Donations received are in relation to the charity's primary objectives as detailed on page l of the report of the Trustees. Expendlture Liabilities are recognlsed as expenditure as soon as thère 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 seltlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all cost related to Ihe category. Where costs cannot be directly attribLrted to partlGular headings they have b8en allocated to activities on a basis consistent with the use of resources. Taxation The Charity is e¥empt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within Ihe objects of the harity. 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 statemenls. onlinued.

South East Wales Rlvers Trusl Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2022 INVESTMENT INCOME 2022 2021 Interest received 1,037 363 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remungration or other benefits for the year ènded 31 March 2022 nor for the year ended 31 March 2021. Trustees, expenses Therè were no Trustee expenses paid in the year. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and lègacies 28,557 28,557 Charitable actlvities Grants received 274,707 274,707 Investment inGome 363 (1) 362 Totsl 28,920 274,706 303,626 EXPENDITURE ON Raising funds 216,218 216,218 Other 14,084 14,084 Total 14,084 216,218 230,302 NET INCOME 14,836 58,488 73,324 RECONCILIATION OF FUNDS Total funds brought fomard 36,958 215,040 251,998 TOTAL FUNDS CARRIED FORWARD 51,794 273,528 325,322 10 continued...

South East Wales Rivers Trust Notes to the Financlal Statements - contlnuad for the Year Ended 31 March 2022 STAFF COSTS 2022 2021 Wages & salaries (all expended on dire¢t charitable activitie$) Pension Cost Social security costs (net of small employer discount) 26,292 121 52,888 1,025 26,413 59,913 Average number of employees 2022 Number 2021 Number Project staff involved in direct charitable activitiès DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade debtors Other debtors Prepayments and accrued income 16,010 37 1,012 36 1,019 1,055 17,059 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade creditors Social security and other taxes Accruals and deferred income 269 774 1,200 1,583 1,560 3,143 2,243 11 continued...

South East Wales Rivers Trust Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2022 MOVEMENT IN FUNDS Net movement in funds At 3113122 At 114121 Unrestrlcted funds General fund 51,794 10,408 62,202 Restricted fund8 Taff & Ely Alternative Mitigation {TEAMI Welsh Watsr Ely and Vale Habitat Project Welsh Water Taff Salmon Habitat Improvement Project River Restoration PC Lottery River Cynon Project Blaenau Gwent Fly Project Slrategic Allocation Fund Income Natural Resources Wales Surveys Control Miscellaneous Fund Strategic Allocation Fund Income (Saf2) 97,287 (78,003) 19,284 64,40S 112,691) 51,714 43,686 4,756 35,739 1,400 15,674 9,331 8,378 (245) (4,9981 1579) (15,146) 41,192 12,641 52,064 4,511 30,741 821 528 50,523 12,641 1,250 53,994 1,26Q S3,994 273,528 4,543 278,071 TOTAL FUNDS 325,322 14,951 340,273 12 continued...

South East Wales Rivers Trust Notes to the Financial Statements - contlnued for the Year Ended 31 March 2022 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming Resources Movement resource5 expended in funds Unrestricted funds General fund 20,261 (9,853) 10.408 Restricted funds Taff & Ely Alternative Mitigation (TEAM) Welsh Water Ely and Vale Habitat Project Welsh Water Taff Salmon Habitat Improvement Project River Restoration PC Lott8ry River Cynon Project Blaenau Gwent Fly Project Strategic Allocation Fund Income Natural Resources Wales Surveys Control Strategic Allocation Fund Income {Saf2) (47,000) (31,003) (78,003) 112,691) {12,691) 8.378 8,378 {245) (4,998) (579) 115,1461 41,192 12,641 53,994 1245) (21,4151 1579) (15,146) (5,808) (17,3951 182,966) 16.417 47,000 30,036 136,960 191,791 1187,248) 4,543 TOTAL FUNDS 212,052 1197,1011 14,951 13 continued...

South East Wales Rlvers Trust Notes to the Flnancial Statements - contlnued for the Year Ended 31 March 2022 8 MOVEMENT IN FUNDS - continued Comparatives for movement In funds Net movement in funds At 3113121 At 114120 Unrestricted funds General fund 36,958 14,836 51,794 Restrlcted Funds Natural Resources Wales Fish Passages under Fixed Structures IRailtrack} Taff & Ely Alt8rnalive Mitigation (TEAM) Welsh Water Ely and Vale Habitat Project Welsh Water Taff Salmon Habitat Improvement Project River Restoration PC Lottery VVW River Cynon Project Blaenau Gwent Fly Project Electro Fishing strategic Allocation Fund Nalural Resources Wales Miscellaneous Fund 5,360 51,564 72,786 43,686 (6,360) 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 12,730 15,674 9,331 1,250 16,674 9,331 1,250 215,040 58,488 273,528 TOTAL FUNDS 251,998 73,324 325,322 14 continued...

South East Wales Rivers Trust Notes to tha Financlal Statements- ¢ontlnued for the Year Ended 31 March 2022 MOVEMENT IN FUNDS - continuèd Comparative n8t movement in funds, included in the above are as follows.. Incomlng Resources Movement resources expended In funds Unrestrlcted funds General fund 28,920 (14,084) 14,836 Restricted funds Natural Resour¢es Wales Fish Passages Under Fixed Structures (Railtrack) Taff & Ely Alternative Mitigation {TEAM) Welsh Water Ely and Vale Habitat Project River Restoration PC Lottery River Cynon Project Electro Fishing Strategic Allocation Fund Income Natural Resources Wales Surveys Control Miscellanéous Fund {6,3601 (5,360) 52,360 287 (6,6371 {8,668) (1,413) 13,814) (4,680) (167,686> 45,723 {8,3811 (1,413) 4,394 12,730) 15,674 9,331 8,208 1,950 183,360 9,331 16,010 3,200 116,0101 (1,950) 1,250 274,706 (216,218) 58,488 TOTAL FUNDS 303,626 (230,302) 73,324 15 continued...

South East Walès Rivers Trust Notes to the Financial Statements- continued for the Year Ended 31 March 2022 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 Alternalive Mitigation (TEAMI - To improve the Rivers Taff & Ely for migratory fish, such improvements will also be of benefit to other fish as well as lo the biodiversity of the Rivers £179,209 Natural Resources Wales Fish Passages (River Easement) Project- To investigate and improve areas under fixed structures leg bridges) where barriers to fish movement exist. £9,331 Welsh Water Ely and Vale of Glamorgan Habitat Improvement Project - Wisit Farms to check and advise on the fertilisers and other nutrients on their farmland that could drain off into nearby water Courses thereby causing environmental issues within the waterways. £87,918 Welsh Water Taff Salmon Habitat Improvement Project- To improve the habitat for migratory and other fish in the Taff catchment area. £52,064 Postcode Lottery River Restoration Projecl - Funding a river restoration course for len persons to teach them the scope of river restoration. This is course approved by Agored Cymru, hoping to help them look for work. £6,169 River Cynon Project and Fly Monitoring- Engagement with SGhools and Communily across the Cynon valley to encourage the community to value and look after the local river, as well as Fly Monitoring. Welsh Water £57,371 16 continued...

South East Wales Rlvers Trust Notes to the Financial Statements- contlnued for the Year Ended 31 March 2022 8. MOVEMENT IN FUNDS- continued Natural Resources Wales Electro Fishing - Funding that has enabled the training of three project officers and four Gompetent persons on how to monitor fish populations. All the data helps to assess th8 health of thè river and its flora and Fauna. £4,680 strategic Allocation Fund SAF- Funding that has enabled the continuatlon of work to improve and protect the rivers throughout the SEWRT area. £230,360 Miscellaneous Fund Miscellaneous Fund- Derived from pollution incidents 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 Natural Resources Wales Surveys- To work on surveys in the rivers in the trust areas. NRW, the trust and 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. £30,036 Strategic Allocalion Fund 2 SAF2 - Each year NRW provides funding to restore fisheries habilats. The purpose of this funding is to sustain and restore slocks of salmon and sea trout in Welsh rivers. To ensure that NRW and our partners meet our fisheries mitigation obligations through the delivery of suitable habitat restoration measures. £136,960 17

South East Wales Rlvers Trust Notes to the Financlal Statements - continued for the Year Ended 31 March 2022 9. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2022. 10. MEMBERS FUNDS The liability of the members is limited to £1 during membership or within one year after ceasing to be a member. 18

2022-03-31-accounts