# 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 



## 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. 

3 



## 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. 

4 



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 

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 2021. 

3. 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 

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. 

5 



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. As well as their Strategic Allocation Fund 2 

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. We have also worked with the local wildlife trust on the introduction of Water Vole an endangered species. 

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. Work on the new funding from Welsh Assembly Government through Natural Resources Wales. 

## Performance in Delivering Goals. 

1. 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. 

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 2022 and beyond. 

4. 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 

6 



## 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. 

7 



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. 

8 



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
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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 eXperIen￿d 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
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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.
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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..
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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

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
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BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
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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 eXperIen￿d 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.
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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..
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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