Charity registration number 1154348 Company registration number 07986475 (England and Wales) BRISTOL AVON RIVERS TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BRISTOL AVON RIVERS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D WAtkin Mr P C Coleman-smith Dr J B Greaves Mr T R Kjeldsen Professor R A Skeffington (Appointed 22 January 2024) Secretary Mr P C Coleman-smith Chief Executive Offjcer Mr S Hunter Charity number 1154348 Company number 07986475 Registered office The Oakley Kidderminster Road Droilwich Worcestershire WR9 9AY Independent examiner Colm McGrory The Oakley Kidderminster Road Droitwich Worcestershire WR9 9AY Bankers Tridos Bank Deanery Road Bristol BS1 SAS Lloyds Bank plc PO Box 1000 BX1 1LT
BRISTOL AVON RIVERS TRUST CONTENTS Page Chairman's statement Trustees, report 2-15 Independent examirber's report 16 Statement of financial aclivities 17 Balance sheet 18-19 Statement of cash flows 20 Notes lo the financial statements 21-34
BRISTOL AVON RIVERS TRUST CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 A word from the Chair It 15 my absolute pleasure to reflect on another year of solid growth and achievement at BART. Year after year, Ihe team grows in number, activity and, above all, impact within the Bristol Avon Catchment. Over the last 12 months, the team has managed to increase income by c.300k to over £630k. This in itself is an achievement worthy of celebration. However, it is not the money that matters. The real measure of success is whal the team has done with these funds and the added value they have brought to bear, which, for such a small organisation, is truly staggering. The increased income has allowed the team to invest in critical projects, enhance habitats. Sutvey ecosyslems. prepare future projects and expand outreach and education activities, all of which have had a tangible positive impact on the catchment and its human inhabitants. In the last 12 months, the BART Team has engaged over a thousand volunteers and over 2,800 children in a range of activities. This is crucial work in empowering future generations to become custodians of their natural world. I would encourage readers of this report to take a moment and consider the scale of achievements summarised on Page 5. Our CEO has continued to deepen relationships with key organisalions in the catchment, demonstrating with every opportunity BARTS reliability to deliver above and beyond expectations. This has truly placed BART as the deliverer of choice with local authorities, water companies. our unitary authority and increasingly. private sector organisations. Developing relationships in the corporate sector and demonstrating the value BART can bring to their organisations is now a key focus of development. The lasl year has seen Ihe expansion of the Board of Trustees to five. with a sixth member about to join the team. This has brought new expertise to the Board and has brought forth a marked improvement in the governance and support provided to the CEO. Focus for the Board has been on reviewing Policy. risk identification and management. improving govemance prosseS and providing greater support to our CEO and the wider BART team. Our newest member of the team has specialist expertise in financial management. This skillset will provide improved financial oversight and support to the CEO as BART continues to grow. The Board looks forward to the exciting developments of Ihe next e1ve months. Dr J B Greaves Chaimlan Date.. 0411112024
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Truslees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitymemorandum and articles of association, the Companies Act 2006 and "Accounting and Reporting by Charilies.. Stalemenl 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 2019). Welcome from the CEO Chief Executive Officer, Simon Hunter, reflects on another busy year At Bristol Avon Rivers Trust (BART), we have experienced another dynamic and impactful year. Our team has expanded significantly, growing from 8 to 12 members over the past year. As we look ahead to 2024. we are exciled to welcome even more team members, marking yel another milestone in our continued growth and commitment to safeguarding our rivers. As a science-driven organisation, we place great value on data and statistics. You can find a snapshot of our 2023 achievements in numbers in the infographic later in this report. While these figures provide a glimpse into Ihe tangible outcomes of our work, the true measure of our success lies in the less quantifiable aspecls-the strong camaraderie among our volunteers, the deep connections we have fostered with farming and angling communities, and the partnerships we have built wilh grassroots and governmental environmentsl organisations. In 2023, BART undertook a variety of projects to benefit the rivers across the diverse catchments of Bristol, South Gloucestershire, Bath & North East Somerset, Wiltshire, and North Somerset. These efforts have been sustained by the collective contributions of individuals and groups, breathing life into the region's waterways. Key highlights include the Bristol Avon Fish Recovery Strategy and the Action Plan for the River Chew, both of which have significantly raised awareness of our local 'blue spaces., These initiatives have developed comprehensive plans to improve fish migration to high-qualily spawning habitats, which the Trust is now actively implementing. Additionally, our citizen science efforts have expanded. drawing in new volunteers and becoming part of a regional citizen science pilot. in Gollaboration with stakeholders across the Bristol Avon catchment. l find myself immensely privileged to oversee suGh a broad and impaGtful sGope of operalions. The unwavering dedication and energy of our teams. both in the field and in core support roles, have enabled our Trust to thrive despite the challenges of securing funding for BARTS growing team. We are deeply grateful for their passion and commitment to achieving meaningful results for our region's rivers. I would like to express my sincere gratitude for the unwavering hard work, passion, and dedication of our staff team and Board of Trustees. Without their efforts, Ihe achievements of the past year would not have been possible. United by a shared commitment to improving the water environment, we will continue to work tirelessly to achieve our vision for a "clear future for our riverf the Bristol Avon. As we embark on our 12th year, with many new inilialives on the horizon, we recognise that there is still much to be done for our rivers and thank those who have been part of BARTS journey so far.
BRISTOL AVON RIVERS TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectives and activities Legal Purpose Charitable Objectives Thè charitable objectives of Ihe Trusl set out in the Memorandum and articles of association are= To conserve, prolect, rehabilitate and improve rivers streams, watercoLrrse5 and water impoundments of the catchments comprising the Bristol Avon and South Gloucestershire streams including adjacent esluarine areas. for the advancement of environmental protection or improvemenl for the benefit of the public. To advance the education of the public or any association, institution, voluntary organisation, company, local aulhorily or representative body in= The understanding of rivers, river corridors and river catchments including their fauna, biochemistry, economic or social activity and river management. b. The need for, and benefits of, conservation. protection, rehabilitation and improvement of aquatic environments. The Trusts objectives correspond with the charitable purposes of advancing environmental protection and the advancement of education as described in the Charities Act 2011. The Trust's activities meet the two key principles of public benefit as follows.. Principle 1. There must be identifiable benefits which are clear, related to the aims and balanced against any detriment or harm. Principle 2. The benefits musl be appropriate to the aims and available to the public or seclion of the public and private benefits must be incidentsl. The Trust's work meets principle 1 through bringing about physical change to the rivers and streams with the catchment through improvement to in stream riparian habitat and by working with the fomial catchment partnership to Influen plans and strategies involving water quality within the catchment to ensure that environmental outcomes are represented within such plans. The Trust further works throughout the catchment lo shale these plans at local and community level. The Trust's work aims to provide ecosystem services benefits to Ihe public through improving water quality, preserving the habitat and food sources of endangered species, conserving the environment and providing education about the aquatic environment to ¢ommunity groups and schools. The Trust's work meets principle 2 through improving water quality and the natural environment for the benefit of all. These include users of water in home and business, leisure users, and communities who live by the river as well as schools and outreach organisations and volunteers using the river to improve levels of wellbeing in the community.
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aims and Activities to Support Objectives The Trust aims to protect. reslore and enhance the rivers. streams and riparian habitat, within Ihe Bristol Avon Catchment. It aims to achieve this by working at all levels from local projects to catchment wide initiatives and at all educational levels from primary schools to university, and through national initialives such as run by the Riveffly Partnership, providing at all times that our mutual objectives are complimentary. Our principal aims are described by Ihe following activity headings. River & Land Management We aim to protect and restore rivers that have suffered damage or whose habitats are under threat. Activities range from restoring spawning gravels and improving fish passage to working with the farming community to improve soil management practices where these detrimentally affect our rivers and streams. Education We work with schools. universities and community groups to engage people with their river and help them learn about the challenge their rivers face in our modern world. We help groups play an active role in looking after their local river through projects and citizen science. We aim to influence local policy and plans using our local knowledge and through our membership of the Bristol Avon Catchment Partnership and our relationships with other key agencies and utilities. Partnership working The nature of Ihe Trust's work is that partnership working. and public engagement are essential to delivery. The Trust often works as a facilitator providing vision and finance for projects and bringing together the necessary skills from a range of other organisations. Partnerships are formed for several reasons - working al catchmenl level with the Bristol Avon Calchment Partnership, or within an individual project where skills do not exist within the Trust. The Trust has continued to be a member of the Bristol Avon Catchment Partnership. a partnership set up to co- ordinate the efforts of mulliple partners in improving water quality for the benefit of people and wildlife. The Trust contributes considerable in-kind contributions in time and through raising funds to support catchment partnership projects. The Trust is also a Board Member of the West of England Nalure Partnership where it provides a Vol for water and is working to integrale aqualiG ecosystems into natures recovery. Significant activities Throughout the year, the Trust has secured funding from various sources. empowering it to spearhead numerous initiatives and collaborative projects. These endeavours have encompassed a wide array of aclivities. yielding benefits for both the public and the environment. In light of the influx of additional funding opportunilies, the leam has adeptly accelerated its efforts to deliver for its ¢harilable objectives. This proactive approach has enabled the Trust to make substantial strides towards achieving our objectives and has left a lasting impact on Ihe catchment.
BRISTOL AVON RIVERS TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 This year the team has increased in size, to 12 paid members of the team, with further growth anticipated for 20241 25. Arnong the most noteworthy operational achievemenls are-. During the winter of 2023124, the team carried out habitat restoration and natural flood management across several sub-calchments, including the Bristol Frome, River Chew, Cam Brook. Little Avon, and Sherslon Avon. Activities included wetland creation, leaky dams. wildlife ponds, and river habitat resloration. These efforts enhance catchment resilience to flooding, climate change, and biodiversity loss, while also improving water quality and creating better'blue" spaS for public enjoyment. The Trust has published the Brtstol Avon Fish Recovery Strategy to integrate river value into decision- making across spatial planning, public health, and economic development. This strategy will guide collaborative efforts to achieve the partnership's vision and objectives for fish populations in the Bristol Avon catchment. The Trust's collaboration with landowners has grown and is now a key part of our strategy. In early 2023. we concluded a River Trust Defra Tesl & Trial program in the River Chew catchment. preparing farms for the Environmenl Land Management scheme. To expand its work with landowners and build on the Test & Trial project, BART submitted an expression of interest IEOI) for a River Chew, Cam & Wellow Farm Cluster project to the West of England Combined Authority's Green Recovery Fund in late 2023. The successful EOI led to an invitation to submit a full business case, which is now under review. If funded, the project will establish farm cluslers to promote sustainable food production and nature recovery, potentially linking Ihe Colswolds and Mendip conservation areas to boost resilience for nature and communities.
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Volunteering at Bristol Avon Rlvers Trust Volunteering at the Bristol Avon Rivers Trust (BART) involves participating in various citizen science programs and hands-on activities to support river conservation. Volunteers engage in river fly monitoring, which involves sampling and reporting data on river health, and take part in the River Detectives programme. which educales and involves local communities in river stewardship. BART'S volunteers play a crucial role in collecting data, enhancing river ecosystems. and increasing community support for river conservation efforts. Over Ihe past 12 months, BART'5 volunteering efforts have significantly expanded. This growth has been driven by new funding, which has enabled us to provide training and coordination in response to increased community interest and awareness of local river conditions. The Trust has supported ils monitoring network through the Riverfy Partnership, conducted several training events, and now has over 100 volunteer sites across the Bristol Avon. The 2023124 training sessions have led to monitoring new watercoursés and expanding exisling sites. Additionally, BART continues its Smart Rivers invertebrale monitoring program to assess the health of the Chew, Cam, and Wellow Brooks. The Trust has launched new citizen science programs, BART Detectives and Water Guardians. in collaboration with Wessex Water. To enhance water qualily moniloring amid reductions in stalulory monitoring, BART is spearheading Ihe 'River Detectives, project. This initiative features an interactive map displaying Ihe colleded data on the Trust's website. offering a more detailed view of river health across the catchment and training community members in water quality monitoring. ,(,f3 ¢1,: Image. Volunteer River fly Monitors, following their Iiaining Public benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and Perfomiance To preserve this remarkable river catchment, we continue to collaborate closely with a diverse range of individuals and organisations along the river, including farmers and landowners, environmental groups. communilies. local authorities and businesses. Priorities for several Avon tribularies have been identified in partnership with our stakeholders and in alignment with government policy. We have worked diligently to deliver these projects effectively, ensuring they meet environmental objectives, offer value for money, and provide broader benefits to both society and wildlife. Over the past year, the Trust's standout achievements include expanding its citizen science and volunteering programs through river fly monitoring and River Deteclives, leading to a substantial increase in community SUPPOrt. BARTS network of volunteer river fly monitors diligently samples local rivers and streams. providing valuable data on river health. Notably, BART monitors contribute more dala to the nalional Anglers, River fly Monitoring Initiative than any other group in the country. Beeen April 2023 and March 2024, BART monitors conducted 363 surveys and were responsible for 7.3 /0 of all records submitted. Additionally, the Trust remains deeply involved as a key delivery partner within the Resilient Frome Partnership, actively participating in the Natural Flood Management Projecl Steering Group and developing and executing on- Ihe-ground projects. The Resilient Frome project is funded by Defra as part of the £200 million Flood and Coastal Innovation Programmes, managed by the Environment Agency. Thesè programmes aim to drive innovation in flood and coastal resilience and support adaptation to a changing climate. Trustees have continued to diligently review the Trust's policies. Impact of Bristol Avon Rivers Trust (BART) In 2023-24 16.9 1000 224 137 371 92 •bJrJt F*¥> 6 1078 30 55 2828 148 Charitable activities To ensure the vitality of our region's freshwaler environmenls, our teams are dedicated to a range of areas. including land management, river restoration. river monitoring. mapping, community engagement, and school educalion. Our staff is deeply committed to enhancing riverine and estuarine ecosystems, which ultimately support the health of marine environments. Below, we highlight some of the remarkable achievements from 2023124 that have strengthened the health of our rivers, streams, and watercourses. Continue reading to discover the positive impact our charity has made through various projects on the region's rivers:
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Improving rivers to support wildlife: Publication of the Bristol Avon Fish Recovery Strategy In 2023, we were delighted to announce the completion of the Bristol Avon Fish Recovery Strategy comprehensive plan aimed at addressing the challenges fish populations face within the catchment and identifying opportunities for their recovery. The full strategy is available on the Bristol Avon Catchment Partnership's website= htt s'.Ilwww.bristolavoncalchment.co.uklbristol-avon-fish-recove -strate Key Components of the Strategy: Challenges and Opportunities: The slrategy outlines the primary challenges that fish POPLtlations in the Bristol Avon face, such as habitat degradation, barriers to migration, and pollution. It also identifies areas where intervention5 can most effectively support fish population recovery. Guiding Principles and Multie¢tOr Approach: A core component of the strategy is sts emphasis on guiding principles for fish recovery. underscoring the necessity of a collaborative, multi-sector approach. This approach brings together stakeholders from various sectors, including agriculture, conseNalion, and urban planning, to work towards common goals. Action Plan: Included within the strategy is a detailed action plan that outlines high-level actions needed to facilitate fish recovery across the catchment. The plan also sets up mechanisms for monitoring progress to ensure the strategy'5 goals are being met. strategic Integration: The Bristol Avon Fish Recovery Strategy operates at a strategic level within the catchment and the broader region. It is integrated into several regional and environmental frameworks. ensuring its principles and adions align with wider conservation efforts. Specifically. it is considered in the development and implementstion of= The Local Nature Recovery Strategy ft)r the region. Biodiversity Net Gain initiatives. Environmental Land Management Schemes. Additionally, the strategy is featured on the West of England Combined Authority website as a key regional document, reflecting its importance in the region's environmental planning. By aligning with these strategies, the Bristol Avon Fish Recovery Strategy plays a crucial role in promoting a resilient and biodiverse future for the region's rivers and aquatic ecosystems. BRISTOLAVON RECOVERY STRATEGY Image.. Brown tout is a key native species which the Bristol Avon Fish Recovery Strategy sets out to suslain and increase populations The Trust expre5ses its gratitude to the Bristol Avon Catchmenl Partnership for the funding provided through the Bristol Avon Catchment Partnership project grant scheme.
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Enhancing the Sherston Avon, Wiltshire with woody structures In autumn 2023, the Bristol Avon Rivers Trusl (BARD inilialed a major river restoration project on a 150-meter stretch of the Sherston Avon near Easton Grey, Wiltshire. Funded by the Environment Agency Fisheries Improvement Programme, The Halpin Trusl. and the Easlon Grey Fishing Syndicate. the project aimed lo improve the river's ecological health through the installation of nine complex woody structures. Following a 2022 river walkover with the Easton Grey Fishing Syndicate, the projecl focLrsèd on enhancing wild fish habitats in response lo poor river conditions exacerbaled by groundwaler extraction and climate change. The river had become overly wide and shallow, particularly in dry weather, which highlighted the need for structural changes to improve flow and create deeper habitals. The woody structures were designed to narrow the river channel, increase flow diversity, and develop new habitats. These structures, built over three days by BART staff. volunteers from Mott McDonald. include slrategically placed woody deflectors and hinged trees. The defleclors will help trap sediment and promote the growth of vegelalion, while the hinged trees will restore natural habitat complexity- These interventions are expected to enhance the river's resilience lo climate change. support aquatic wildlife. and improve overall ecological health. Image.. the BART team undertaking a detailed sile survey. and on the right. a hinged tree installed on the Sherston Avon, to improve flow diversity and habitat to support wildlfe
BRISTOL AVON RIVERS TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Community Engagement: Bristol Frome BART hosted a range of commLbnily evenls across the catchment, with a highlighl being the ongoing work on Ihe Brislol Frome. Funded by the Environment Agency's Water Environment Improvement Fund IWEIFI. this project engaged diverse audiences on topics such as water quality, pollution, Sustainable Urban Drainage Systems, and Natural Flood Managemenl (NFM). The project achieved: One school involved in our Eels in the Classroom project Seven school events, such as lessons, field trip to our NFM work, river dips. Reaching a lotal of 378 children. Four community events involving local beaver scouts and a general community event, reaching over 100 individual5. Engaging one hundred businesses through our'only Rain Down the Drain, campaign, raising awareness to businesses about the connections between surface drains and nearby watercourses. safe management of waste material, drainage blockages and to discuss ways of minimising impacts of business activity on water pollution. Three familandowners engaged about the current health of the Bristol Frome, water quality improvements, the increasing flood risk to downstream areas in the catchment and the benefits of incorporating water-based improvemenls to their farmland and yield. Bespoke advisory reports were created for the landowners to make these improvements. An animatiorb aimed at enhancing understanding of the combined sewage system and the role of sustainable urban drainage systems (SUDS) in mitigating their impact on discharge frequency. Image.. Eel in the Classroom and a Lego house which formed part of the Trust's Sustsinable Water Usage school project and a river dip event undertaken with a local primary school. 10-
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 South Bristol Communities Reconnected Project In March 2023, the Bristol Avon Rivers Trust (BART) published an opportunity report for the rivers and streams of South Bristol, identifying various river and habitat restoration possibilities within the Malago, Pigeonhouse, and Collilers Brook catchments. This project is now putting community-level recommendations from the report into action, with a focus on improving residents, well-being and strengthening their connedions to the blue-green spaces in South Bristol. The project was funded by the Bristol Avon Catchment Partnership project grant scheme. Key initiatives Include: Community Outreach.. Our team is delivering a comprehensive community outreach program aimed at increasing people's wellbeing and fostering a deeper connection to their local rivers and green spaces. Volunteer Education and Training: Our team is upskilling local volunteers to learn how lo restore river habitat through Ihe delivery of three river habilat restoration projects. Volunteers joined our team throughout, learning why restoration is important to support biodiversity and the techniques involved. River EnhanGernent: A 1 OOM section of the Malago in Bedminster is being improved for both wildlife and community enjoyment through the installation of woody debris. Riverfly Monitoring Network: The Trust is setting up a rivertly monitoring nefmork across the South Bristol river system to gain a deeper understanding of the ecological benefits of our restoration efforts and track how the environment responds over time. This neOrk will also help us identify any emerging water quality issues. These efforts aim not only to restore and improve local waterways but also to engage and empower the South Bristol community. slrengthening the connection between people and their natural environment. Image.. a river clean organised by BART working with volunteers on the Pigeonhouse Stream 11
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A Practical and Honest role Bristol Avon Rivers Trust was founded as an adive organisation, and we are not afraid to get our hands dirty and feet wet in order to make lasting improvements to the river and its Species. We have grown in size, knowledge, and reputation over the past year to become a respected leading actor in environmental conservation in the Bristol Avon Catchment, but we have always remained faithful lo our founders, ethos. Bristol Avon Rivers Trust continues to act as a trusted intermediary belween govemment and business, and the general public. We will continue lo collaborate with all parties to achieve the best possible outcomes for the environment, wildlife, and communities.. We will hold ourselves to the highest slandards of best practise, scientific understanding, excellence, and professionalism., and We will continue to build trust from our partners, stakeholders, customers, and supporters. These pillars will support the standards of excellence and integrity thal the Trust has buift. enabling us to make a real difference for which we strive. Financial review Rolling cash flow forecast, movement on restricted and unreslricted funds and working capital are the key financial performance indicators which are assessed during the regular financial reporting to monitor performance. Thanks to the Trust's ability to demonstrate its adaptability to funders throughout the year, confidence in the Trust has grown. This has resulted in increased reserves and a strong pipeline of projects for future years. The CEO conducted quarterly financial assessments in close collaboration with the Trustees to ensure the Trust maintained a strong delivery focus throughout the year. Contributions from the consulting arm, BART River Services Ltd, also helped diversify income. The CEO. Head of Operations. and Finance Manager link business planning to budgets and projects. The use of Xero ensures robust and controlled financial management. However, significant inflation over Ihe past 12 months has stressed budgets. particularly for capital works. Contractual commitments are regularly reviewed, and for multi- year initiatives, inflation increases are factored in. While the fvnding and economic outlook remains uncertain. the Trust has significant contracted work for Ihe coming year and a solid pipeline of work expected to be confirmed in the first three quarters of next year. As a result, the Trustees are optimistic about the future. The Trust is committed to using its reserves to further its charitable goals, considering the Maintenan and development of its workforGe critical to thal mission. The Trust's reseNe policy ensures that reserves are sufficient to meel its projected needs. as consetvatively determined by the Trustees, who believe the Trust is well-positioned. The attached accounts include a provision for deferred income related to projed expenditures where invoices have not yet been received. Reserves policy It is the policy of Ihe charity thal unrestricted fvnds which have not been designated for a specific use should be mainlained at a level equivalent to between twelve and eighteen month'5 expenditure. The Trustees consider that reserves at this level will ensure that. in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserve5 has been maintained throughout the year. 12-
BRISTOL AVON RIVERS TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods The Trust is committed to continuing it5 efforts to achieve its goals in a professional and safe manner. The future looks promising. with a wide range of projects planned for the upcoming fiscal year. These include creating a floodplain wetland in the Chew Valley. Natural Flood Management projects across the Bristol Frome, eDNA fish monitoring. multiple reach-scale river habitat restoration programs across the catchment, several weir removals I easements, citizen science training events, scaling up our working with farms, and invasive species control. The Trust will remain an active member of the Bristol Avon Catchment Partnership and West of England Nature Partnership. contributing to strategic plans for improving the Bristol Avon at the catchment level and participaling in partnership projeds as they arise. Additionally, Ihe Trust will continue to identify opportunilies to provide education and advice on the river environment to schools and local community groups across the catchment. The Trust will maintain its leadership in improving the River Chew and will extend similar efforts to the Cam & Wellow Brooks. Bristol Frome, UpperAvon, Little Avon, and other rivers within the catchmenl as opportunities arise. Structure, governance and management Constitution The company is registered as a charitable company limited by guarantee. established and conslituled by a Memorandum of Association on 12 March 2012. The charity operates under its governing document, a deed of trust, and is defined as a company limited by guarantee under the Companies Acl 2006. Method of Appointment or Election of Trustses As of 31 March 2024. the Board of Trustees comprises five members with expertise in finance, accounting, risk management. health & safety, research and academia, and public relalions. The Board regularly reviews the skills and experience of its members and identifies any gaps. When necessary, Board members leverage their networks to find suitable candidates with the required expertise to acl as Iruslees. Trustee recruitment follows a defined process during which existing trustees seek and consider referen$ and formally vote regarding any proposed new trustee. Successful applicants are required to complete and retum an Information to be Disclosed and Declaration Form covering their status and eligibility to act as a Charity Trustee and Company Director. New trustees are appoinled by the Board following an inilial meeting with the Chair and an invitation to attend a Board meeting as a guest. Policies for the Inductlon and Training of Trustees New trustees receive an induction pack outlining Iheir roles and responsibilities. Ongoing training needs are monitored by the Chair and CEO. The Board ofTrL5Stees also operates under a Code of Conduct. Pay Pollcy for Senior Staff The Chair of Trustees benchmarks staff salaries and reviews them as needed, making adjustments where necessary. Organlsational Structure and Decision-making The CEO is responsible for the day-to-day operations of the Trust and reports to the Board of Trustees, which meets four times per year. Belween Board meetings, the CEO consult5 wilh the Chair on key issues. such as financial risk, and provides updates to the Trustees as required. 13
BRISTOL AVON RIVERS TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk Management The Trustees are responsible for overseeing the management and control of Bristol Avon Rivers Trust (BARTI and ils subsidiary, BART Rivers Service Lld. Thi5 includes overall control of risk management. particularly setting and reviewing policy (at least annually and ad-hoc as well if required - e.g. due to an event or change in scope), plus also the process parameters and reviewing outcomes. Our risk identification process is led by the delegated Risk Management Policy holder (Tnjslee). Chair, and CEO. This process covers all areas of risk, including financial, governance, operational, and reputational. An annual audit of controls is conducted lo ensure effectiveness. Day-to-day risk management and coordination are delegated to the Chief Executive, who reports lo the Board of Trustees on the effectiveness of the risk management process, including any issues encountered and recommendations for improvement. The Trustees regularly review individual risks, assessing Iheir significance, potential impact, and likelihood of occurrence. Current key risks include.. Loss of Key Staff & Recruitment Challenges.. A succession plan is in place, providing staff with CPD support. appropriate notice periods for key individuals, and a health and wellbeing programme. Staff contracts are regularly reviewed. with permanent contracts issued where suitable to reduce reliance on temporary positions. Reducing Dependen on Limited Funding Sources.. The managemenl team has extensive experience in fundraising from diverse sources. including statutory agencies, lotteries, and charilable trusts. The Trust has consistently secured unrestricted funding and benefits from discretionary donations from supporters. ile the Trust does not engage in direct fundraising campaigns. il continues to diversify funding streams. Lack of Budget Control: The CEO, Head of Operations, Finance Officer. and Trustees ensure that business planning is closely linked to budgets and projects. The use of Xero accounting sofvare strengthens financial management. The Board has adopted a scheme of delegation, clear]y ouuining the financial authority granted to staff, ensuring a robust and auditable process. Inflation.. Significant inflation over the past 12 months has put pressure on budgets, particularly for capital projects. Contractual commitments are regularly reviewed. and inflation increase5 are accounted for in multi-year initiatives. Failure to Meet Heahh & Safely Standards: The Trusl has a dedicated Health & Safety Director (Board) and Health & Safety Manager (Staffj who implement a robust, annually reviewed policy. All slaff undergo Health & Safety training and have access to a Health & Safety handbook. Lack of Site Safeguarding.. The Trusl works with children and vulnerable adults across various activities. A comprehensive safeguarding policy is in place, reviewed annually. A Safeguarding Officer is appointed within the management team, alongside a lead Trustee. All staff receive safeguarding training, and recruitmenl procedures striGlly adhere to the policy. Global Pandemics.. While the impact of the Coronavirus pandemio has diminished throughout 2023, the Trust continues to monitor the situation closely to ensure business continuity. This structured approach ensures that BART remains resilient in the face of various risks. safeguarding both its operations and long-term sustainability. 14-
BRISTOL AVON RIVERS TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of trustees, responsibllities The Trustees, who are also the directors of Brislol Avon Rivers Trust for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prac11). Company Law requires the Trustees to prepare financial stalemenls for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Truslees are required to.. select suitable accounting policies and then apply them Gonsi5tently; - observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudènt., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial ststements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and he for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The Irustees, report was approved by the Board of Trustees. Dr J B Greaves Trustee 2811012024 15-
BRISTOL AVON RIVERS TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRISTOLAVON RIVERS TRUST I report to the Trustees on my examination of the financial statements of Bristol Avon Rivers Trust (the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the charity (and also tts directors for the purposes of company law) you are responsible for the preparation of Ihe financial stalemenls in accordance with the requirements of the Companies Acl 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charilies Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b} of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm Ihat l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect-. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in aG¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Colm McGrory FCA Ormerod Rutter Limited The Oakley Kidderminster Road Droitwich Worcestershire WR9 9AY 16-
BRISTOL AVON RIVERS TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Other trading activities Investments 92.608 126,055 51,278 3,686 92,608 487,343 51,278 3,686 32.112 2,060 48.397 1,027 32,112 357.029 54,973 1,027 361,288 354,969 6,576 Total income 273,627 361,288 634,915 83,596 361,545 445,141 Expenditure on: Charitable activities 196,786 375,517 572,303 3,062 368,563 371.625 Totsl expenditure 196,786 375,517 572,303 3,062 368,563 371,625 Net incomellexpenditure) 76.841 (14,229) 62.612 80,534 (7.018) 73.516 Transfers between funds 44,881 {44,881) Net movement in funds 121,722 (59,110) 62,612 80,534 (7,018) 73,516 Reconciliation of funds.. Fund balances at 1 April 2023 206.404 69.634 276,038 125,870 76.652 202,522 Fund balances at 31 March 2024 328.126 10,524 338,650 206,404 69,634 276,038 The Statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 17-
BRISTOL AVON RIVERS TRUST BALANCE SHEET AS AT31 MARGH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 13 14 2.860 3,447 2,861 3,447 Current assets Debtors Cash at bank and in hand 16 122,316 605,356 94.014 414,688 727,672 508,702 Creditors: amounts falllng due withln one year 17 (381,883) (218,611) Net current assets 345,789 290,091 Total assets less current liabilities 348,650 293,538 Creditors: amounts falling duo after more than one year 18 <10.000) (17,500) Net assets excluding pension liability 338,650 276,038 Net assets 338,650 276,038 The funds of the charity Reslricted income funds Unrestricted funds 20 10.524 328.126 69,634 206,404 338,650 276,038 The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Acl 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies A 2006 wilh respect to accounting records and the preparation of financial statemenls. The mernbers have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial stalements have been'prepared in accordance with the provisions applicable to companies subject to the small companies regime. 18-
BRISTOL AVON RIVERS TRUST BALANCE SHEET {CONTINUED) ASAT31 MARCH 2024 The financial statemenls were approved by the Trustees on 2811012024 Dr J B Greaves Trustee Company registration number 07986475 {England and Wales) 19-
BRISTOL AVON RIVERS TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 27 195,913 113,040 Investing activities Purchase of tangible fixed assets Purchase of investments Investment income received (930) (2,790) 3,686 1,027 Net cash generated froml(used in) investing activities 2,755 (1,763) Financing activities Repayment of bank loans (8,000) {8.000) Net cash used in financing activities (8,000) (8,000) Net increase in cash and cash equivalents 190,668 103,277 Cash and cash equivalents at beginning ofyear 414.688 311,411 Cash and cash equivalents at end of year 605,356 414,688 -20-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Bristol Avon Rivers Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Oakley, Kidderminsler Road, Droitwich, Worcestershire, WR9 9AY. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Igoveming documentl, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ('FRS 102.1 and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and to include investment properties and certain financial inslruments at fair value]. The principal accounting policies adopled are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expeclation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject lo specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1A Income Income is recognised when the Gharily is legally entitled lo it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on re¢eipl or otherwise rf the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 21
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligalion to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligalion can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support cosls involved in undertaking each activity. Direct costs attributable to a single aclivily are allocated directly lo Ihal activity. Shared costs which contribute to more than one aclivily and support costs which are not attributable lo a single activity are apportioned belween Ihose aclivities on a basis consistent with the use of resources. Central slaff cosls are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any irnpairment losses. Depreciation is rewgnised so as to write off the cost or valuation of assets less Iheir residual values over their usefvl lives on Ihe following bases= Plant and equipment 250/0 Straight line The gain or loss artsing on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the assèt, and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction cosls are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activitie5. 1.8 Impaimient of fixed assets At each reporting end date, the charity reviews the carrying amounts of it5 tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exisls, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalenls include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabililies. 1.10 Financial instruments The charity has elecled to apply the provisions of Section 11 'Basic Financial Inslruments, and Seclion 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneou51y. -22-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fvture receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabililies, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing Iransaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If nol. Ihey are presented as non-currenl liabililies. Trade creditors are recognised initially at Iransaclion price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Taxation The Charity is exempt from corporation tax on its charitable activities. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's 5erviGes a reived. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimatss and judgements In the application of the charity's accounting poli¢ies. the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities Ihat are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which Ihe estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and fvture periods. -23-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 92,608 32,112 Income from charitable activities Unrestrfcted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Charitable income 126,055 361,288 487,343 2.060 354,969 357,029 Grants analayis Charitsble activities 2024 South Gloucestershire Council Wessex Water Services Ltd Natural England Halpin Trust Environment Agency Babcock International Wiltshire Wildlife Trust Brtslol Water Garfield Weston foundation Mossy Earth Other 75,480 70.973 14,419 13,975 128,936 11.250 20.159 21.726 39.620 13,813 76.992 487,343 Income from other trading a¢tivities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restrl¢ted funds funds 2023 2023 Total 2024 2023 Fundraising 51,278 51,278 48,397 6,576 54,973 -24-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 3,686 1,027 Expenditure on charitable activities 2024 2023 Direct costs Slaff costs Depreciation and impairment Travel and subsistence Equipment External Services other 318,605 1,517 13,473 34.852 82,825 4,843 190,788 1,031 10,943 36.920 39,584 8,436 456,115 287,702 Share of support and governance costs {see note 8) Support Governance 102,635 13,553 76,890 7,033 572,303 371,625 Analysis by fund Unrestricted funds Restricted funds 196,786 375,517 3,062 368,563 572.303 371,625 25-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities 2024 2023 Staff costs Travel & subsistence Recruitment Building costs offi running costs Other costs Staff training Governance costs 70,569 300 1,938 2,547 14,617 6.625 6.039 13.553 61,880 939 1,087 1,791 6,640 3,414 1,139 7.033 116,188 83,923 Analysed between: Charitable activities 116,188 83,923 2024 2023 Governance costs comprise: Accountancy fees Professional fees Independent examination 10.360 1,043 2,150 7.033 13.553 7,033 Net movement in funds 2024 2023 The net movement in funds is slated after chargingl(crediting): Depreciation of owned tangible fixed assets 1,517 1,031 10 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023- Nil). There were no transaclions with trustees during Ihe year (2023.. Nil). 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Truslees Employees 11 Total 15 12 -26-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees (Continued) Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 334,778 27,545 26,851 220,152 16,852 15,664 389,174 252,668 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Total remuneration 114,323 103,344 12 Taxation The charity is exempt from laxation on its activities because all its in¢ome is applied for charitable purposes. 13 Tangible fixed assets Plant and qulpmont Cost At 1 April 2023 Addilions 15,178 930 At 31 March 2024 16,108 Depreciation and impairment At 1 April 2023 Depreciation charged in the year 11.731 1.517 Al 31 March 2024 13,248 Carylng amount At 31 March 2024 2,860 At 31 March 2023 3.447 -27-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Fixed asset investrnents Investment in subsidiaries Cost or valuation At 1 April 2023 Additions At 31 Mar¢h 2024 Carrying amount At 31 March 2024 At 31 March 2023 15 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtor5 Prepayments and accrued income 109.224 68.862 3.892 21,260 13.092 122,316 94,014 16 Loans and overdrafts 2024 2023 Bank loans 18,000 26.000 Payable within one year Payable after one year 8,000 10.000 8,500 17,500 17 Creditors: amounts falling due within one year 2024 2023 Notes Bank loans Olher laxation and social security Trade creditors Accruals and deferred income 16 8,000 9.868 43.836 320.179 8,500 6,560 9,924 193,627 381.883 218,611 -28-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Creditors: amounts falling due after more than one year 2024 2023 Notes Bank loans 16 10,000 17,500 19 Retirement beneflt schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 26,851 15,664 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -29-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 South Gouc Council: Bristol Frome NFM 42,410 (42,253) 157 Riverhub 39,760 (39,760) Water Guardians 16,628 (15,555) 1,072 Species Recovery- Cam & Wellow 14,419 (14,419) Stoke Brook- Forty Acres Restoration {43) 14,308 (14,265) River Chew spawning trib river restoration 13,975 (12.074) 1,901 South Glouc. Council,. Little Avon Berkeley Estate River Restoration 12.761 (11.456) 1,305 South Bristol Communities Reconnected 9,040 {8,911) 129 Eastern Gray Restoration Ph.1 8,292 (8,170) 122 Bristol & Chew Water Resources Project 8.200 (9,381) 1,182 Various Funders'.Riveffly 2023 7,000 (7,000) Wilder Waterways Farm Engagement 6.460 (6.460> Gauze Brook River Restoration 4,788 (4,505) 283 BACP.'Our Blue Spaces 4,357 {3,739) 618 Keynsham Wier BANES CIL 3,301 (3,301) The Rivers Trust:ELM T&T 9.237 (8,485) 752 Malmesbury NFM Engagement River Marden Spays Farm 12,149 (11,572) 577 -30-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Restricted funds (Continued) Pickedmoor Rhine Restoralion 5.275 (6,018) 743 Siston Brook°Blue Opportunities" 8,750 (6,748) 2,002 Thornbury River Project 3,178 {3,178) SVR Wellow watercourse opprotunties report 4,395 (4,352) 43 Cam Brook. Little Blew WEIF 14,340 (14.278) 62 Halpin Trusl.'UpperAvon & Little Avon Projecl 8,663 (8.6631 Cotswold Conversation Board:Little Avon delivery 6.643 (6.643) Avon Wildlife Trust land Yeo Farm Engagement 5,000 1,285 (6,285) BACP.'Chew Valley Fish Recovery Action Plan 9,957 (9,957) South Gloucestershire Council:B.Frome NFM 9,262 (9,262) The River Trust.'Chew & Cong Yeo Water Resources Project (15) 9.788 (9.772) DS Smith:Eel in the Classroom 2023 4.387 (4,387) Natural England'.Cam & Wellow Landowner Engagement 4,159 (4,159) Natural England'.Cam & Wellow Eel project 4,372 (4,372) Mendip Hills AOB Unit-upton Farm wetland 2,971 (2,971) The D'oyly Carte Charitable Trust.'Rivers for Wellbeing 3,379 (3.379) BART CSR 2023 (311) 3,050 (2.739) Riverblitz 2023 350 13,000 (13,350) Easton Grey FIP 3,813 (3,813) 31
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Restricted funds (Continued) BART RS:NSC Goblin Combe NFM 3,523 (3.523) ADAS CSF 2,607 (2,607) Other funds 61,130 10,932 {23,754) (46,808) 1,501 69,634 361.288 (375.517) (44,881) 10,524 21 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside oul of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming Resources resources expended Transfers At 31 March 2024 General funds 206,404 273,627 (196,786) 44,881 328,126 22 Analysis of net assets between funds Unrestrictsd funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl{liabilities) Long term liabilities 2,860 2,860 335.265 {10,000) 10.524 345,789 {10,000) 328.126 10.524 338.650 Unrestricted funds 2023 Restrlcted funds 2023 Total 2023 At 31 March 2023: Tangible assets Current assetsl(liabilities) Long term liabilities 3,447 220,457 (17,500) 3,447 290,091 (17,500) 69,634 206,404 69,634 276,038 -32-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Related party transactions There were no disclosable related party transactions during the year (2023 - none). 24 Subsidiaries These financial statements are separate charity financial statements for Bristol Avon Rivers Trust. Details of the charity's subsidiaries at 31 March 2024 are as follows.. Name of undertaking Registered office Nature of business Class of shares held /0 Held Direct Indirect BART River Services Ltd The Oakley, Kidderminster Road. Droitwich, Worcestershire WR9 9AY Environmental consulting Ordinary share 100.00 The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows.. Name of undertaking ProfiUILoss) Capital and Reserves BART River seices Ltd 692 1,776 25 Limited company The charity is a limited company but has taken advantage of the exemption available lo dispense with the word'limited, after its name. 26 Share capitsl The charity is a charitable company limited by guarantee. and as such does not have share capital. 27 Cash generated from operations 2024 2023 Surplus for the year 62,612 73.516 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (3,686} 1,517 (1,027) 1,031 Movements in working capital: (Increase) in debtors Increase in Greditor5 (28,302) 163.772 (39.829) 79.349 Cash generated from operations 195,913 113.040 -33-
BRISTOL AVON RIVERS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 28 Analysis of changes in net funds At 1 April 2023 Cash flowsAt 31 March 2024 Cash at bank and in hand 414,688 190,668 605,356 Loans falling due within one year Loans falling due after more than one year (8,500) (17,500) 500 7,500 (8,000) (10,000) 388,688 198,668 587,356 -34-