2025-03-31-accounts

Trustees Annual Report & Financial Statements for the Year Ended 31[st] March 2025

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 Carston ETL, Tudor House, 16 Cathedral Road, Cardiff CF11 9LJ Stand Alone Shop Registered Office Unit 22 Taff Falls Road, Treforest Industrial Estate Pontypridd, CF37 5TT

The Annual Report of the Southeast 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).

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2. Structure, Governance & Management

The chart below illustrates the current internal structure of the Trust and its staff:

3. Governing Documents

The Southeast 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 2024-2025 were as follows:

Anthony Rees MBE Chairman Dennis Baynham Secretary Jonathan Mead Jonathan Davidson Taylor James Gregory Professor Bob Williams (Resigned – July 2024) Richard Garner Williams. Gareth Harvey

Trustee Prof. Bob Williams resigned from his position in July 2024 on grounds of ill-health.

5. Organisation

Day-to-day management of the Trust and its operations is undertaken by the CEO who oversees the delivery of three key projects by the operational team:

The Trust has employed officers in the following roles during 2024/25:

• CEO (0.4 FTE)

• Farm Advisor (1.0FTE)

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• Project Office (0.8 FTE)

• Project Manager – Rhondda (0.6 FTE)

• Ely Catchment Coordinator (1.0 FTE)

• Student Intern (1.0FTE)

The team delivered three major projects during 2024/25:

• Restoration, Protection and Enhancement of Ely Valley SSSI (RePrEEV)

• Rhondda – a river for all

• Inland Fisheries Habitat Restoration Project (SAF4)

In addition to the internal management of the Trust outlined above, we have strong connections with Afonydd Cymru and our neighbouring Trusts.

The Trust is a member of Afonydd Cymru (AC), the overarching Rivers Trust body for Wales. AC provide an advocacy service for the six Welsh rivers trusts and provide expertise and other supportive resources when required.

SEWRT are one of six rivers trusts based in Wales. We work closely with the other five Trusts, sharing policies, guidance and other resources. This has included the provision of staff training by one of the Trusts for the benefit of all others. For example, one of the SEWRT members of staff is qualified to lead training in river fly monitoring and identification, and runs ad-hoc courses for colleagues in other Trusts and organisations.

6. Objectives

The objectives of the organisation are: -

• a. To promote the conservation, protection, rehabilitation and improvement of the rivers, streams, water courses and water impoundments in the rivers Kenfig, Ogmore, Thaw, 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 Kenfig, Ogmore, Thaw, 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 2024/25

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. This will include seeking new National Lottery funding and support from private companies.

2. Develop fundraising capacity within the Trust.

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1. Maintain involvement with community partnerships and local and national bodies.

2. Further develop policies, procedures, and operating practices as a priority working with other Trusts to provide consistency in Policy where appropriate..

3. Maintain active involvement with Afonydd Cymru and the other Rivers Trusts working in partnership to share and maximise efficient use of resources.

4. Work closely with Natural Resources Wales to deliver our elements of the Inland Fisheries Habitat Restoration Fund.

5. Continue to contribute our staff’s skills to support projects led by other organisations such as: ‘Restore the Thaw’ project in the Vale of Glamorgan led by the local council. Water Vole Reintroduction Project led by the local wildlife trust.

6. Work with local communities including schools to inform them of the importance of the rivers that run through their locality.

8. Performance in Delivering Goals.

1. The Rhondda – A River for All project, commenced in April 2024. The project has been supported by financial contributions from:

2. a. Vatenfall Windfarm Community Fund

3. b. National Lottery Communities Fund

4. c. RCT Shared Prosperity Fund

5. d. Postcode Lottery

6. e. Waterloo Foundation

During its first year, the project has delivered:

  - Engagement with 10 primary schools and over 450 children.

  - Provided field experiences and training for students at Pencoed College, University of South Wales, Cardiff University and University of Surrey.

  - Held six community engagement events attended by over 400 people – raising awareness of riverine habitats and species.

  - 40 volunteers have been trained in river restoration, biological and water quality monitoring.

1. We continued to work with Natural Resources Wales and Welsh Government on the fourth fisheries Strategic Allocation Fund (SAF). SEWRT benefited with a grant from this funding, enabling us to work right across the Trust area delivering:

2. Four fish pass and easement schemes providing improved migratory fish access to over 6.5km of river.

3. Eleven riparian habitat schemes delivering bankside improvements over 6.3km of river.

4. The RePrEEV project completed its second and final year, having received funding from the National Lottery Heritage Fund who were administering nature network funds on behalf of Welsh Government.

   • Invasive species control over 2.6 hectares of riverbank.

   • Created 4km of riparian buffer strips.

   • Undertaken four key habitat surveys.

   • Planted over 1300 trees.

   • Attended 32 events and engaged with nearly 900 individuals and worked with 127 volunteers.

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• Installed four interpretation boards along the River Ely.

• SEWRT submitted a successful bid for a further Nature Network Fund project on the River Ely which has been supported by the National Lottery Heritage Fund and will deliver a water and biological monitoring programme with schools and community groups along the Ely. This new ‘Ely Catchment Community Connections’ (ECCCo) project will run for three years from April 2025.

9. Plans for 2025/26

Our focus for the coming financial year will be to deliver against our existing funded project commitments and also start to deliver our new ECCCo project.

We will also continue to seek and secure alternative sources of funding in order to provide greater resilience for the Trust’s activities and provide longer-term security for its staff.

10. Financial Management

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 CEO. The continual use of HRA Accounting based to manage our bookkeeping has enabled us to closely monitor all our funding. We also work within our financial procedures and policies.

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 (management cost) is built into grant applications and any subsequent funding we receive.

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 assessment and management of projects undertaken in partnership with other agencies ensures that all projects are delivered safely, with no environmental harm and at an agreed cost ceiling.

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.

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13.Principal funding sources

Our principal sources of income continue to be in the form of grants including, during the 2024/25 period, grants from the following:

• Natural Resources Wales

• National Lottery Heritage Fund

• Vatenfall Community Fund

• Postcode Lottery

• National Lottery Community Fund

• Shared Prosperity Fund (RCT)

• Waterloo Foundation

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 situation 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 2024/25 has been submitted to companies House and the Charities Commission separately.

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SOIJTH EASTWAiES ￿vE￿sTRUST STATEMENTOF F114ANOAIACtMnES FOR THÈ YÉAR ENDED ai MAKH Z025 2015 Total fvnd5 2024 Yotal funds funds INCOMEAND ENDOWMEPUS FROM OonaÉions d ￿83t1@s 4.291 2,647 Charltable acti￿lIeS GTaDts re(eNed S31.952 245.(O9 In¥estmeTrt irKO 2.487 Total 53L95Z 538.750 250,143 ÉXPEP4DmJREON Rèisingfund5 368.157 368357 184,948 Other 283Z7 Z8?17 33.143 Totsi 28JZ7 358.3S7 396ffi84 218,091 NET INCOMEIIEXPENOITUREI . TraTr5fers betwèèn ftsnds 1215291 164.594 (16JJ81 142, 32,052 NetTh¢Mmomt in funds 127.756 I41￿65 32.052 RECONCILIATIONOF FUNDS Total funds brought forward IOB.138 138.3Z7 206.275 TOTAIFUIIOS CARRIED FORWARD 12ZA47 257.915 380.392 238327 T1￿)￿s1OrMWt ofthEsEAn3ntialstswts

srATEMENTOF FINANCWL FOY￿14 31 MAROI 2025 Z025 Totsl Dds 2024 lund lur￿5 fund5 CURRENT ASSETS Debtors Cash at bank Ao IQ3.2 25.555 10>275 183.5LY 4.273 282.430 Z57.945 257.915 386.77S 2È6.703 CREDThORS Amount5falihgduewithin oneyear li 163811 16.YR31 148,3761 NETCiJRRENT ASSETS 12LU7 257.945 380.19Z 238.327 TOTALASSETS LESS CURREKf L]AWUIIES 121847 157.915 218,327 NET ASSETS 122,447 257.945 380.392 238.327 FLINDS Unrestricted funds Restricted funLts 112N7 257,945 108,138 130,189 TOTAL FUNDS 238,327 The chariiabfe company is enitled to exempt¥￿ from autht Under 477 01 ￿ C(mpJnies Art 2rx6 for the year ended 31 March 2025. The membws havè not ￿quired the ¢oryarry to obtain an ol it5 finwK¢I Y3M)erts for theycar ended 31 March 1025 in acC￿lan￿￿th Sectyon 476 ofthe(tywsAci The tivsreesacknowle(e tel￿nsi￿litIeS lor ensunng that the chari¢3ble company keeps reCC￿&t￿t cornOywithSectiDns 386 and 387 of the colnr￿nIes Act 2W6 and pre￿nn$lin3r￿K￿ staiLYbEntswhich wea trueand fairyiEwof U srateof 3ffairsof theilwitsWe¢omp3rty asatthe ond ol each financialyoar andof itS￿rK￿lSordefi[Ltfor hnancial ye3rinaccordarKe whlhÈ r4uirementsof Section5394 and 395 which othetwise ctsnrwith the req￿em￿lSOf theCoMwACt2fy￿ rtin8 ￿ fiThinual SkalemEnlS SO far asapFlic3bl¢to thècharitablec<)mkJaThy. 2025 ThE fin•noal staternenis weo approved ty the Board of Tntsiees arnl auttrKrftsed fLY455UE on.......... ggned on ￿ tr￿balf by. .. and w¥e lame5 Gre8ory- Trustee ThE¥￿e$fOrM Mofil*fittartoalst3temtnts P38e4

STATEME14TOF CASH FLOWS FOR THE YEAR ENDE031 ￿ftCH 2025 2025 2024 Note5 8sh fknws Irom operahniictivities Cash 8eneraied from opèratsons 26322 81.6 r4et cash provi￿ by0peratln8ac￿￿t￿S 22 81,6￿) Chaffly Incashand c45h eyyiv•l¢rttsln t reporfngpErM)d Cash and Ca$heq￿1¥a￿nts at the beynnint of thè rèpof15n8 period 24122 81,69> 257.ln 175,488 Cash c45hequiv¥lettis atthÈend of th reportlngperM)d 257,178 The ￿￿es1orM wioflhe5efv￿nCIal 5tatentnts

SOiITH ENStWAiES fdVERSTRiIST NOTESTOTHE STATEMEFlfOF CASH Fio FORIHEYEAII ENOED31 MARCH 2025 REcONCIL￿TION OF METINCOMETO NEf CASHFLOWAIOMOPEPAIIII6ACIIVIThS 2025 2024 Net lrftsmelwt￿ rewrllw pÈthd lasperthÈStstomertofFlnandalAciiviiipsI 14U65 31052 1lncre35e1ld￿reaSe indebiors IDLrreasel[IrKreasein t￿ditorS 199.(K)21 116.7411 30.140 19.498 Net (ash by opptatlthbs 263ZZ 8L69) ANALYSISOF C4SHAIIO CNSH EqUJVAiEPITS 20 2024 Noticedewyis Ilesstharn3monihsl eritraftsirtd￿ed in bank kjans and oVerdrdftsfa￿1n￿¢￿th￿rtYe8r 2B35 282.430 125.252} Tor31cashaTrS cash equbvalent5 2835N) 257,178 AWALYSISOF OWNGES IN NETFUIIDS At IIV24 Cash flow At3113125 Netca5h Casharbank Bankoverikaft 2814>) {￿.25 1.070 25.25Z 283500 2S7.171 ZS.3 283,5rLI Total 2s7.ln 2A321 z￿￿00 The noresf¢m part¢)f IhesefinanDal ststerniis Page 6

NOTESTOM FINANCiALSTATEmEP￿s FOR THEYEAR ENOED3L MARCH 2025 ACCOVtlmNG POilaES Basis of pieparinz the flnarKlJl staiemerts The hn3ncHI 5t3letnenlS ol the Ihariièwe comwy. whKh is a IX￿7￿ ￿èfil￿tityunl￿ FRS 102. hwe been prepareLI i accordaDce vrith theChariDesSORP IFR$ I021'A¢¢￿￿ and Rety)rtirt8 bychwties". St3ttynent ol Re£omrn￿ded Prathce typlicatletoch3fitiesprepar1￿thaf account5inaccordarKewiththe FinarKial RepOrtirest￿MIard applicawe in the UKand Republic ol IrdaThJ IFRS 1021 leffecti¥e ijanuary 20191., Finawal Rep)rtiw&xdard 102 PinaKia1 AEP)rMeStandard ap￿LIable in the UK and Repuwic of Ir4¥nrf the C(Mnpan￿s Act 2(Th. Tre h￿[K￿lI 5Tatements have been prepareLI underthe hi5torKal cost convention. In¢omt All is recogrM5ed in the Statement of &r￿￿alA[byl￿0rtt the ÉNirityha5entitleTnertto it is wobable thatthp intomewdl be reteW•hJ the•m￿tL￿berneasur￿ rdiaNy. Spetified Pioiecis Fundiry Income is ryirnarity recwved Irom Nat￿ AexyJrctWalÈs ￿ We15h Water with the iemaifiin8 project income deD¥ed IToTh and sources. I￿0￿@ and 0￿2￿)n5 re(eiwJ are in r￿d￿ft ￿ the charitls primaryobJe(ti¥esasdet•led in the re￿)rtof th¢Trustee> ExpEnditure LkiiMlitie$ 3re Yeto£nised 35eN￿￿8￿Ure as 500n a5 ￿￿rE15 • 1 obligation c(YDmittingtho ¢haritytothat experoiture, it is wotrawe that a transler ol benelits wdl be reqL¥red in 5ethtrntnt the amount of tho 0￿18a￿on can be rDea5uredreliably. Exwdi¢urei$ acc￿ntedf0r￿ aDaU￿#sba￿5a￿jhasbÈe￿daSS7fiÈd￿ndertr￿adI￿gS that aggregate 311 cost relèred to the category. wh￿ costs canTrot threctrattri￿ted to pa{￿U￿r headings they have been alk)tsted t03tht6Èson a bas1sconsi￿enEW1lbthe u&eol reyJw{e Taxalion The Ch￿ty isexempt frowh iaxonfts¢haritsb1eaciMhe Trd au¢)unbng unrestyicred fundscan beused in a(cordasxewith tltharitatyeot4etiwesatthedisueiionof ihettustEe> ReStr￿ted lund5 can On￿ be used frof pwtIC￿tyr restritted rMKrKises ithin ￿ object5 of the tharity. A￿rth0n5 aris when 5pKffied by the donororkn lurn1sa￿ raised for parricJarre5tsiciedpurrA>5e5 FurtherexsA•narion of the nature and puwp)5Eof eachfuthlis I￿uded intherotestothe fir￿￿04 statement> DOt4ATK)NS A14D iEGAOES 2015 2024 Administrabon IrKome 4391 2.647 IrivE¥fMENTINCOME 20 2024 Interert¢eNed 2.487

NOTESTO THEFItiANCL4LSTATEMENfS. coDUhued FOR THE YEAR ENOED31 MARCH 2025 INCOME FROM CFi4RifABLE AcrNmES 2025 2024 Speafl¢ proiertlr￿mÈ 532,951 245.(XYJ GiantsrecelTr￿. induded in theabo¥e. are a5rd￿. 2015 2024 6￿1$ 532,952 245,￿9 RAISI1￿ FLINDS RlTh8 donatiLvffjand lega(iE5 2025 2024 SKcilic ryryect co￿5 a683S7 184,948 SUPPORTCOSTS Other Other￿s0￿r£¢sÈXpN Z83Z7 TRUSTEES. REMUNERATr)NAND BENEFITS Therewas no in&stees' remunerabonorottr berfits lor thpyearaKJed 31 Marth 2025 lorthe ¥eareD(W 31 ￿rth 2024. Tiustees. exFeTrses Ttrrewe￿ nOtruSteee￿￿e$p0ld ifithe year STAFFCOSTS 2025 2024 WagÈs and salarie5 7.721 12.446 7,711 12,446 The aver<E montNy nuM￿r￿(em￿OyeesthnnltheYe wasasfoNows'. 20Z5 2024 Charit3t4eactm￿ proie¢t staff No employees we￿¢demO￿Ments in ex¢eSst4U￿).[M.

N07E5TO ThE FifI4NOAi SfATEMENT5. contsthed FORYHE YEAR EPIDED 31 MARCH 2025 COMPARATIVES FOR IHE5TATEMEMfoFFW4ANU4LACfPII Unresrricted Rèstricted TotBI funds INCOME AND ENDOWMENTS FROM Donatron5 afKJ legKE5 2.647 2.647 Gtant5recoived 245,Wg 245,( Investment income 2.487 Total S.134 245.(A19 250.143 EXPENlJtTURE 014 Raisin8 funds 184.948 184.Y8 Oiher 33.143 33.143 T<)tsl 33,143 L84,948 218.091 t4EfiNCOMEIIEXPENDITUftEI Tr4Thsfer5bets¥eenlw￿s P8.(Q)I 60.061 183.8J31 32,052 Net rThJvemEntln fvtsds 55.791 123.7421 32,052 RECoN0L￿TI0N OF FUNDS Total fur￿5 broughi forwar 52.Y4 153.931 206.275 TOTAL FUNDSCAItRIEO FORWARD 0.189 238,327 io. DEbTOR5.. AMOUNTSFALLINGDVEWbTHIN014EYEAR 2025 2024 Otherdebtors Prepayrnent53nd ¥crued income 1.355 1.920 2.550 1.723 103.275 4,273

SOLFfH EAffWAiES RIVERSTRU tIOTESTO ThIE FIPIANCWSTAIEMEKIS. FOR THEYEAR ENDED31 PMR(H202S ii. CREDrfoRS." ANM)Ut4TSFAiiJNG DiIE WtIH114 ONE YEAR 2025 2D24 Bank k)arsandO￿￿rèfts[s Thotp 121 Trade¢￿￿110rs Sec￿tY3nd other taxe5 urua15 3Nd deferredI￿jme 25,252 16,532 3.856 2,736 3.423 48,376 12. LOANS An analy￿501￿ maturityof IrhThlSi5 gNel bdow.. ZOZ5 2014 Amunt5 fdling duewittrinone yearon &rnand.. Bank overdTrfts 25,252 MOVEMENfiN FUNDS between fu￿5 At y4124 inlutsls At 3ty3125 Unvestrirted fvnds General lund I￿.138 IZL5191 k22,447 ReStriCtedf￿ds Welsh WaterTaff 5alwD Hèbtat lrnprovernent Proiect River cy[￿n Proiert Surveyscc￿11oI MisteU3neous Fund sirdtegic Albcation Incomei&4rJi Strategic ￿loCati￿} Fund 4 REpreeve Watervole RhOr￿th RiversforMI Civil sanction Funding INNS Eccco 5.138 IZM3 2.749 117.4101 17191 .1231 15.1381 112.6431 2,749 17981 6.171 15J8Z SA54 18.2591 5.855 29.9S7 50,000 1.909 123377 3?77 iX,189 le4.591 136.8381 257.915 TOTAL FUNDS 238327 Iii.LM5 380.391 Pxe 10

SOUTH EASTWALESIVVERSTRUST NOTEsfoTHE FIIIANCIAiSTATEME14TS.wntkn FOR THE YEAREPIDED 31 MARCH 2025 MOVEMENT￿ FUNDS-(ontknued Net mo¥ement infund% i￿u&d in theab￿aTeaSf0Ikrt15.. Incomin Movernenl In fvrtds eXp￿ded Unre5trKtedlunds General fund 128.3271 122.5291 Restrfttedtunds strategic Althnon Flvd IrKorne IW3 Strategic All¢tsthon Fthd4 AepreEwe WatEI Vts1e Rhondda RNersforAII EtyIN eccco IIZ08 6.173 15381 IM244 1154.0711 11692381 153ni 139.$841 a￿62 1.056 123377 J23,377 531951 13683571 161.594 TOTALFUP4DS 538.749 14 Comparativeslor rnovem¥ntin (unth Net Transfeis Ai 114123 IDknd5 Al 3113124 UvrestrKted funds Geral lund 51344 124¢XVJI 83.8)3 1(,138 Restsi<ted fvnds Wd5h Water Efy vale Habitat Projett We15hW3ter Taff Salmon Hattst Impr¢vemÈni PrDjeci WW RiverCy{￿n Proiect 81aen3u Gwent Project NaLuia1 Re￿vr£eSWa[es Sutveysconir Mi5cfllarwus Fund StratÈ8icAlbcaiion FU￿ IntoNtlW21 RiverTBfFGravd ResiorabM Propci Strategic Allocation Int4)melSAF31 StièieBi¢ ￿l￿ation Fund4 Repreeve Waiervole Rhondda Riwsfor All CiwlSar*Oon FurKlin8 39.412 139.4121 48.634 a4,821 821 9.331 12.643 2.749 48.634 5.138 121.8451 17.8381 18211 12,643 2.749 18821 116.(ffj91 19,4301 5.539 10.5 17.0791 17191 V.1231 117.4101 7.366 28,911 50,(X)D .911 153,931 .061 183.8031 130,189 TOTALFUNDS X6.275 32.052 238,327 Pa8e 11

NOTESTOTHE FIFiANCIALSTATEMENTS. ￿￿1￿1¥¢0 FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEMENT It4 FIJNOS-mnttnued Comparaiive netrnovemEnt in hJrw& iDrlLwJed ai¥>areasfdW" IrthDir4 rewce5 Resources expended Movement Inlunds UTh￿tritted hmds GÈrtÈra fund 5.ly 133.1431 128.CL)91 Restrictedfvnd5 WW River Cyw Project River Taff Gravd Resror31ion Project strategic All¢xation Fund Income (SAF31 Stratewc Albcaiion FurK14 Repree4e Watervole Rhondda RNersforA Ci¥i15anction Funthns 1210541 19.4391 190,5721 121.8451 10,550 19,989 81493 54,9J7 162,0301 21911 28,911 50,( 245,(X>3 li84,￿) 60.￿1 TOTALFUNDS 2Y),143 1218.0911 32,052 A¢(rrerniyear 12 WK>ryear l2fflonth5corntinedposit￿ ￿a51(￿Jws". Transfers between fund5 MO￿ne￿ tund5 At V4125 At31fsl2S Uibre5tyirtÈd lunds Ger*ral lund 150.538 120.641 122,447 RE5trKtedlunds Welsh Watfr Taff Salmm HatAiat Improvernent Proje WW Rwer Cynon Project r¥ey5 Control Miscellaneous Fund SlraIe8icAllocati￿ FurKJ ItKorne (SAF31 Sttateei¢Albc3tion Fund 4 Reprev Watervole Ah0￿jd￿ RtversfcxAII SanctiDn Fur￿l￿g Ety INNS ECCCO 48,634 14.821 12.643 1749 iio.rmi 112,9761 112,6431 38,634 111.8d51 2,749 11.129 5.454 R,259 5.855 29.96P 110.2181 5,454 18.2591 5.855 29,967 50,1 3.377 L23.377 97.946 214.1(6 y.1(￿) 257.945 TOTALFUPIDS 206,27S 174.117 39).392 Page 12

sovfH EW WALES RIVER5TRusr NOTESTOTHE FIIWNUALSTATEfyIEPITS. FOR THE YEARENDED 31 ￿R￿1 Z025 13. movE￿IlT SN FLINDS. Con￿TrU¢d A current year 12 nv)nlhs arKJ woxyear 12rnnihsctyTrJitkd ndm(rtemeTht 1nhJ￿. irtluded in theakneare3sfdlow> IYK•Nnc re50wces Res0￿￿$ experthd Movement in funds Unretytedlunds GÈn@ral fund 10932 161.4701 150S381 Restrk￿ fvnd5 WW Rivw Cynon ￿¢￿e¢l Strategic ￿lOca￿On Futh4 Income IW31 St¢aiewc Allocati￿ Fund 4 Repreeve Watervole Rhondda Riversfor All c￿11 Sanction FLndin8 El¥ IN ECCCO 121(fAI 19).5721 IiY.79)1 1231,2681 15,507) 139,5841 121.8451 11,129 5,454 4259 5.855 29.9S7 IOL701 If4244 239,527 11362 69551 123.377 123,377 757,971 1543,8661 214.105 TOTALFUNOS 7&892 1614,7751 174,117 14. RÈLATEDPARTY ThSCLOSURE5 There wete no re&ted parlytransa¢ik)nsforihe yearenthd31 Mar(h2025.

DETAIIEDSTATEMENfoF FINANCLAiACTIVmES FORTHE YEAR ENDED 31 MARCH 21)25 2025 2024 INCOME AJIDEt4DOWMEP4TS ODnations and legiaes Administtrtion ol lundsincon 4291 1647 InYÈstsmeTrtlncome Inteiest re£eNed 1.506 2.487 Charitable¥ttivhOts SpEctht wqett Income 532.952 24S,W9 Totsl lttcominz resources 538.749 250,143 EXPENDITURE Ralslngdonationsand a(ies Specilic projectC05t5 368357 I84￿8 Support costs Other Wage5 Insuran Committee eynses 8ankchar bscriptiens AccouniaDc¥ Broadbarbd andsofNare General ExpEns AdVertt￿n8￿ M3rketi Oflite costs Pengon costs Repairs and maihtena 7.721 1.329 12.446 1,636 905 Z.5LK) 6.617 In a.168 19Z 146 3JK)7 2,5(Q 5.794 115 4,582 765 4.349 28.327 33,143 Total resource5expended 396.6f4 218.C81 tlet lTrcome 1421*5 32.052 This pageik)eS￿)t lcthpart ofthe st31￿0ryfiOaD0astalaTh£I1l$ P4e 14

INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH EAST WALES RIVERS TRUST Independent examiner's report to the triistee5 of South East Wales Rlvers Trust I'the Company,) I report to the charity trustees on my examinatlon of the accounts of the Company for the year ended 31 March 2025. Responsibillties and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparaknon of the accounts in accordance with the requirements of the Companles Act2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audltedunderP3rt 16 of the 2006Act and are eligible for independent examination, I report in respect of my examination ol your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carryin8 Dut my examination I havc followed the Directions given by the Charity Cornrnission undor Section 145(5) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross income excoeded £250,000 your examiner must be a Member of a listed body. I can conh'rm th3t13m qualified to undertake the examinatlon because l arn a member of the Associatson of Chartered Certlfled Accountants, which is one of the listed bodie I have completed my examination. I confirm that no matters have come to my attention in connection with the examination givlng me cause to believe: accountin8 records were not kept In respect of the Cornpany as requlred by Section 386 of the 2006 Act; or the accoLmts do not accord with those records. or the accounts do not comply with the accountlng reqU1￿MentS of Sectlon 396 of the 2(xi6 Act other than any requirement that the accounts 8Ne a true and fair view which is not a matter consldered as part of an independent exarnination; or the affounts have not been wepared in accordance with the methods and princlFAes of the Statement of Recommended Practlce for accounting and reportin8 by charities (applicable to charltles preparlng thelr accounts in accordance with the Fil￿ncIal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have Tr) concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to en3tAe a proper understanding of the accounts to be reached. Huw Carter FCCA The Assoctation of Chartered Certified Accountants Carston EfL Tudcy House 16 Cathedral Road Carthff CFII 9U Page 2