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2021-03-31-accounts

RIVER THAME CONSERVATION TRUST

FINANCIAL STATEMENTS FOR THE TWELVE MONTHS ENDED 31 MARCH 2021

Charity No: 1156118 Company Registration No: 08399778

Table of Contents

00

General Information

01 09 10 Trustees' Annual Responsibilities Independent Report of the Trustees Examiner's Report

11

12

13

Statement of Balance Sheet Financial Activities

Notes to the Financial Statements

P A G E i

General Information

Registered charity name River Thame Conservation Trust Charity number 1156118 Company registration number 08399778 Bury Knowle House Principal & registered office address North Place Headington Oxford OX3 9HY Andrew Callender (Resigned 23 Jan 21) Trustees Keith Graham McCullagh Nicholas Marriner Dr Pascale Nicolet Benjamin Stephen Piper (Chair from 1 Jan 20) Charles Oliver Peers David Arthur Wales Sally Rowlands BA (Chair until 31 Dec 19, Resigned 31 Mar 21)

Independent examiner Sheila Parry FCCA SPX Oxford Ltd Peace House Paradise Street Oxford OX1 1LD Bankers Barclays Bank PLC Abingdon Marcham Road Leicester LE87 2BB

P A G E i i

Trustees' Annual Report

The Trustees, who are also the directors for the purposes of company law (referred to as Trustees), present their report and the unaudited financial statements of the company (referred to as the Charity) for the 12 months ended 31 March 2021.

The Trust operates in Oxfordshire and Buckinghamshire and works with local people in rural and urban parts of the catchment to improve biodiversity of the river and its surrounding freshwaters and to improve public understanding and enjoyment of catchments and their wildlife.

REFERENCE AND ADMINISTRATIVE DETAILS

The Trust activities include:

The charitable company was incorporated on 13 February 2013. Reference and administrative details are shown in the schedule of general information on page ii of the financial statements. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS 102.

THE TRUSTEES

The Trustees who served the charity during the period are shown on page ii.

OBJECTIVES AND ACTIVITIES

The charity's objectives are to preserve and enhance the terrestrial and aquatic life of the River Thame and its catchment and habitats and in other nearby catchments, for the benefit and enjoyment of the public.

P A G E 0 1

Trustees' Annual Report Cont.

ACHIEVEMENT AND PERFORMANCE

STRATEGIC PLANNING

The Trust again made substantial progress during 2020/21 by delivering a number of significant projects, despite the restrictions imposed by the Covid 19 pandemic.

The pandemic reduced our ability to meet in the office and initially at field sites meaning that engagement with volunteers, contractors and landowners was severely impaired. Staff adapted well to working from home and Trustees’ meetings were held successfully on Zoom.

The lockdowns also restricted the volunteerled regular water quality testing programme. A full range of delivery programmes restarted by midsummer. Particularly this meant that the key project to complete the wetland and backwater (see below) at Eythrope was finished on time by October 2020.

Catchment Partnership. RTCT continued, jointly, to host the River Thame Catchment Partnership with the Freshwater Habitats Trust throughout the period. This has facilitated cross organisation and community engagement, joint working, planning and project delivery for the benefit of the Thame Catchment. The Catchment Partnership is the coordinating body for the River Thame Catchment Plan; member organisations, particularly the RTCT deliver practical projects to fulfil this plan.

Considerable time was spent by staff and Trustees to define key strategic principles and the future focus for delivery

programmes. The Board agreed that the Trust’s long term strategic priorities should be based on four themes:

P A G E 0 2

KEY PROJECTS

WEG Project - Waddesdon Wetland and Waterstock Backwaters

This large scale, ambitious, two-year project in the Upper Thame at Eythrope has created 0.5ha of new wetland mosaic habitat and a large new backwater off the River Thame on Waddesdon Estate land. The first stage of delivery took place during the summer of 2019. Phase II was delivered in the summer of 2020.

The project was funded by the Rural Payments Agency’s Water Environment Grant , which also provided funds to rebuild a collapsed rock weir fish passage at Cuddington (2019) and in the summer of 2021, a new backwater near Waterstock.

P A G E 0 3

KEY PROJECTS

Fisheries Improvement Fund (FIP)

Two backwaters, funded by FIP were constructed at Waterstock in the Sumer of 2020 (above).

WEG Funded Waterstock Backwater under Construction Summer 2020

P A G E 0 4

KEY PROJECTS

Upper Ouse Management Project

A new project to introduce Natural Flood Management measures, aimed at reducing flooding in Buckingham town centre was started in February 2020. This project in the upper reaches of the

Upper Ouse , funded by Buckingham County Council, will run for at least 2

years. The programme will include extensive engagement with landowners, river and flood modelling and physical work to reduce peak water flow in periods of heavy rainfall by constructing leaky dams, tree planting and improving land use to restrict drainage into watercourses.

P A G E 0 5

KEY PROJECTS

Farm Cluster Engagement

Despite the pandemic, the farming community has enthusiastically engaged with the Trust to form the Thame Valley Farm Cluster. This Environment Agency funded project will encourage landowner and farmer communication and education programmes leading up to the introduction of DEFRA’s new Environment Land Management Scheme (ELMS) during 2021 – 2023.

P A G E 0 6

Other Key Projects

Mid Thame Flood Plain Restoration Programme

Future Plans: Volunteering Programmes

Funded by the Environment Agency and supported by an increasing number of willing landowners, the development of a number of new floodplain restoration and wetland projects is being planned for the Mid Thame area. Subject to further funding, these will be delivered from 2022 onwards.

Stadhampton Mill Bypass

This project aims to create a bypass channel at the mill weir to allow fish passage at Stadhampton on the Chalgrove Brook. This will be a multi-year project with completion in 2022.

Horsenden Stream Project

Funded by the EA and part of a multiyear undertaking, this project is designed to improve water quality and habitat in the Horsenden Stream for brown trout.

In-stream berms (to increase water flow and bed scouring) created by Thames Water volunteers.

Although hampered by Covid restrictions, volunteering is again delivering progress. Water Quality Testing has restarted and will be extended across the whole catchment. Volunteer community days will be run to remove invasive species and to work on practical river restoration projects -e.g. to improve chalk stream habitats on the Chalgrove Brook (below)

P A G E 0 7

Financial Review

Following a major sewage pollution leak from the Sewage Treatment Works at Aylesbury in 2013, RTCT was awarded a substantial grant of £700,000 from Thames Water PLC.

This grant has funded a wide programme of important river restoration, habitat and fish passage projects as well as providing the financial reserve needed to deliver retrospectively funded projects – those where funds can only be claimed after the project has been completed. This applies to all of the EA, Water Environment Improvement Fund (WEIF) and Water Environment Grant (WEG) funded projects. The Trust is also attempting to leverage these funds by applying for grants and donations from other sources to bolster its financial resources and increase the availability of funds for project work.

During this 12 month reporting period (April 2020 to March 2021) incoming resources totalled £335,846 (15 months January 2019 to March 2020 £291,980).

RESERVES

At the end of this 12 month period, the Trust had reserves totalling £514,871. Where funders agree, projects are costed on a full cost recovery model to ensure sufficient funding for core overheads. This minimizes the need for unrestricted reserves as projects aim to be self-funding.

GOING CONCERN

The Trustees consider that there are no material uncertainties that would affect the Trust’s ability to continue as a going concern.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is established as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 12 February 2013. It is under the control of the Board of Trustees. New Trustees are appointed by the Board of Trustees.

During the year, the Trust spent £354,486 (15 months January 2019 to March 2020 £334,429) on charitable activities and £312 (19/20, 15 months £1,202) on fund-raising activities and reported a deficit for the year of £18,952 (15 months January 2019 to March 2020 £43,651).

P A G E 0 8

RESPONSIBILITIES OF THE TRUSTEES

The Trustees (who are also the directors of River Thame Conservation Trust for the purposes of Company Law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.

Company Law requires the Trustees to prepare financial statements for each financial period. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINATION

Sheila Parry FCCA of SPX Oxford Ltd will be considered for re-appointment at the next Trustees' meeting as independent examiner for the ensuing year.

Signed on behalf of the Trustees

91Page

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF RIVER THAME CONSERVATION TRUST

FOR THE YEAR ENDED 31 March 2021

I report on the accounts of the company for the period ended 31 March 2021, which are set out on pages 11 to 19

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered and Certified Accountants.

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

SPX Oxford Limited provides bookkeeping services to River Thame Conversation Trust and I am a director of this company. In order to maintain independence, I confirm that I have not been involved in provision of the bookkeeping service.

I also confirm that as a member of the Association of Chartered and Certified Accountants, I am subject to the provisions of the FRC’s Revised Ethical Standard (2016). This standard has been applied throughout this independent examination.

In connection with my examination, no matter has come to my attention:

………………………………………………

Sheila Parry FCCA

Date…………………………………. 15 December 2021

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Investments
Other income
Total income
Expenditure on:
Raising Funds
5
Charitable activities
6
Other
Total expenditure
Net income / -expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought
forwards
Total funds carried
forward		 Unrestricted
Funds
£
250
57,109
-
-
57,359
312
37,172
-
37,484
19,875
- 38,827
- 18,952
533,823
514,871		 Restricted
Funds
£
278,487
-
-
-
278,487
317,314
-
317,314
- 38,827
38,827
-
-
-		 Total
Mar 2021
£
250
335,596
-
-
335,846
312
354,486
-
354,798
- 18,952
-
- 18,952
533,823
514,871		 Unrestricted
Funds
£
841
-
-
-
841
1,202
-
-
1,202
- 361
529,369
529,008
4,815
533,823		 Restricted
Funds
£
79
290,580
-
480
291,139
334,429
-
334,429
- 43,290
- 529,369
- 572,659
572,659
-		 Total
Mar 2020
£
920
290,580
-
480
291,980
1,202
334,429
-
335,631
- 43,651
-
- 43,651
577,474
533,823

The Statement of Financial Activities includes all gains and losses in the period and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 13 to 19 form part of these financial statements.

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RNER THAME CONSERVATION TRusr BAiANCE SHEET AS AT 31 MARCH 2021 COMPANY NUMBER 08399778 31 IA•r¢h 2021 FIXEDA55EIS Tanglble A8sets 5A03 Debtors Cash atbank io 214704 358.711 2n 514.557 575,415 560,829 CREDrroi&' Amunts lalllwdue wlthln oMyear li 65.947 33Ag) 526,939 514,871 533I23 IIICOMEFUIIDS UDrestrl¢ted Incom• fvr Restrlrted Ircffie funds 514.871 $33%23 13 TOTAL4COME FU14DS 514,871 533.823 For the period ended 31 Marth 2021 the company was e[￿led to exemp￿On frtyn a￿￿11 under seclhjn 477 of tt CompaniesAct 2C¥)6 relatlngtQ Small cwnpanle& Trusteès, re5ponsiblllllts'. The n￿MberS hwe rbjt requyed the comparry to 0￿￿ an of its ￿COUnts forthe rthid In qub)n in corda[￿thh section 476: and The Trustees acknowkdge their ￿SpOnsIbIl￿￿S for Comp￿In£WIth the requlrements ofthe ￿th fesped to ac¢ouMin8 records ènd the preparatlon of actounts. These accounts have been prepared in accordarK• with the Pr￿￿￿On$ app14cable to companle5 subject to the small companles. r se finanoal statements re appro¥ed lry a commlttee ol the Trustees arrtl aultrthsed for Af.2021 •NI art swed on theirlhalfby. K G M¢CuU4h. Trust 121Page

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2021

1. COMPANY STATUS

River Thame Conservation Trust is a company limited by guarantee.

The liability of each member is limited to £1 on a winding up of the company.

2. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Charities Act 2011 and in accordance with the Statement of Recommended Practice (SORP): Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) as amended by the early adoption of Update Bulletin 1 published on 2nd February 2016 reflecting amendments to FRS102. The Trust constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Accounting period

The accounting reference date was changed from 31[st] December to 31[st] March for the period ending March 2020. The accounting period therefore covers 1[st] April 2020 to 31[st] March 2021 for the current period, and it covers 15 months, from Jan 2019 to Mar 2020, for the prior period.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Restricted funds are those received by the charity for specific charitable purposes, as listed in Note 13.

Income

All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Donations and legacies income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of

a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Fixed assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalised.

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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

Depreciation

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Plant and machinery – 20% straight line Computer equipment – 33% straight line Office equipment – 25% straight line

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure represents amounts invoiced, including value added tax.

Taxation

The Charity is exempt from corporation tax on its charitable activities.

3. DONATIONS AND LEGACIES

----- Start of picture text -----
Total Total
Unrestricted Restricted Funds Unrestricted Restricted Funds
Mar 2021 Mar 2020
£ £ £ £ £ £
Donations 250 - 250 841 79 919
4. CHARITABLE ACTIVITIES
Total Total
Unrestricted Restricted Funds Unrestricted Restricted Funds
Mar 2021 Mar 2020
£ £ £ £ £ £
Grants and project -
57,109 278,487 335,596 290,580 290,580
income
-
57,109 278,487 335,596 290,580 290,580
5. EXPENDITURE ON FUNDRAISING
Total Total
Unrestricted Restricted Funds Unrestricted Restricted Funds
Mar 2021 Mar 2020
£ £ £ £ £ £
Salaries 283 - 283 1,000 - 1,000
Employer's NI 12 - 12 160 - 160
Pension
17 - 17 - - -
contributions
Miscellaneous
- - - 42 - 42
Expenses
312 - 312 1,202 - 1,202
----- End of picture text -----

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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

6. EXPENDITURE ON CHARITABLE ACTIVITIES

Administrative and
conservation expenses
Salaries
Employer's NI
Pension contributions
Professional fees -
administration
Conservation costs
Travel and subsistence
Staff training
Recruitment
Office equipment
Office rent
Information technology
Insurance
Communications
Telephone, internet and
postage
Subscriptions
Printing and stationery
Depreciation
Miscellaneous expenses
Audit and accountancy fees
Governance costs
Total charitable activities		 Unrestricted
£
27,293
1,535
2,311
388
1,433
316
9
78
92
1,484
673
208
-
103
180
135
357
98
478
-
37,172		 Restricted
£
84,748
5,509
7,677
2,706
196,414
1,825
54
379
379
7,246
2,856
1,016
-
505
878
751
1,742
296
1,833
500
-
317,314		 Total
Funds
Mar 2021
£
112,041
7,044
9,988
3,094
197,847
2,141
63
457
471
8,730
3,529
1,224
-
608
1,058
886
2,099
395
2,311
500
354,486		 Restricted
£
118,656
7,390
6,340
3,687
160,772
6,052
1,932
1,157
615
10,800
3,591
1,104
-
498
353
3,623
2,558
1,768
2,872
662
334,429		 Total
Funds
Mar 2020
£
118,656
7,390
6,340
3,687
160,772
6,052
1,932
1,157
615
10,800
3,591
1,104
-
498
353
3,623
2,558
1,768
2,872
662
334,429

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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

7. GOVERNANCE COSTS

Trustee meeting costs
Independent
Examination fee		 Unrestricted
£
-
-		 Restricted
£
-
500
500		 Total
Funds
Mar 2021
£
-
500
500		 Restricted
£
162
500
662		 Total
Funds
Mar 2020
£
162
500
662

8. STAFF COSTS AND EMOLUMENTS

Wages
Social security costs
Pension contributions		 Mar 2021
£
112,325
7,056
10,006
129,386		 Mar 2020
£
119,656
7,550
6,340
133,546

The average number of whole-time equivalent staff during the period was 4 (Jan 2019 to Mar 2020; 3.0).

9. TANGIBLE FIXED ASSETS

COST
At 31 Mar 2020
Additions
At 31 Mar 2021
DEPRECIATION
At 31 Mar 2020
Charge for the year
At 31 Mar 2021
NET BOOK VALUE
At 31 Mar 2021
At 31 Mar 2020		 Fieldwork
Equipment
£
7,532
-
7,532
1,506
1,506
3,012
4,520
6,026		 Office
Equipment
£
2,949
618
3,567
2,091
593
2,684
883
858		 Total Fixed
Assets
£
10,481
618
11,099
3,597
2,099
5,696
5,403
6,884

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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

10. DEBTORS

Mar 2021 Mar 2020

£

Other debtors 216,704
216,704		 46,272
46,272

Other debtors are for retrospective payments due from grant awarding bodies

11. CREDITORS

Taxation and social security
Other creditors
Accruals
Income in advance		 Mar 2021
£
3,390
19,654
1,100
41,803
65,947		 Mar 2020
£
3,153
574
1,100
29,064
33,890

12. UNRESTRICTED INCOME FUNDS

Total funds Balance as at
31 Mar 2020
£
533,823
533,822		 Income
£
57,359
57,359		 Expenditure
£
- 37,484
- 37,484		 Other
Transfers
£
- 38,827
- 38,827		 Balance as
at 31 Mar
2021
£
514,871
514,871

A transfer of £38,827 has been made to restricted funds to offset balances on completed restricted projects where there will be no further funding from the grant awarding body.

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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

13. RESTRICTED INCOME FUNDS

Bird Atlas Analysis
CaBA River Thame Catchment
Partnership
Dorchester Weir
FIP Waterstock Backwater
Thames Water - CIF
WEIF Chalgrove Brook
WEIF Engaging with Farmers
WEIF Horsenden Stream
WEIF Outfall Safari
WEIF Stadhampton Mill
WEIF Thames Farm Advice
Water Environment Grant project
Total funds		 Balance at
31 Mar 2020
£
-
-
-
-
-
-
-
-
-
-		 Income
£
-
3,750
16,773
4,014
18,346
3,000
12,900
3,001
-
34,500
-
182,203
278,487		 Expenditure
£
-
- 1,754
- 14,829
- 4,316
- 21,056
- 1,863
- 9,059
- 3,087
-
- 32,973
- 722
- 227,655
- 317,314		 Other
Transfers
£
-
- 1,996
- 1,945
303
2,710
- 1,137
- 3,841
86
-
- 1,527
722
45,452
38,827		 Balance as
at 31 Mar
2021
£
-
-
-
-
-
-
-
-
-
-
-
-

Projects funded on an annual basis were delivered by 31 March 2021, unless separately agreed with the funder. Where projects have been funded for more than one year, the balance of funds received has been carried forward. Where there was a deficit on a completed project, unrestricted funding has been used to offset the balance.

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NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

All assets relate to unrestricted funds.

15. TRUSTEE REMUNERATION, KEY MANAGEMENT PERSONNEL & RELATED PARTY TRANSACTIONS

No Trustees received remuneration or any other benefits from an employment with the charity.

The key management personnel of the charity comprise the Trustees and the Chief Executive Officer. The employee benefits of the key management personnel totalled £45,496. (Jan 2019 to Mar 2020; £53,697)

Apart from that, no Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the period.

16. POST BALANCE SHEET EVENTS

Since the balance sheet date, no events have occurred which would have a material effect on these financial statements.

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