VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 1127 Registered number: 08399778 Charity number: 1156118 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 2127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company, its Trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 9-24
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 3127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Dr M Barnett Mrs S M Cattell (appointed 28 November 2023) Ms J J Jackson Mr N J Marriner Dr K Mccullagh Mr C O Peers Mr B S Piper Mr D A Wales Company registered number 08399778 Charity registered number 1156118 Registered office Unit 16, Wheatley Business Centre Old London Road Wheatley Oxford OX33 1XW Company secretary Dr K Mccullagh Accountants James Cowper Kreston Greenharm Business Park 2 Communications Rd Newbury Berkshire RG19 6AB Bankers Barclays Bank plc 264 Banbury Road Oxford OX2 7DY Page 1
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 4127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and the financial statements of the company for the year ended 31st 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 charity's memorandum and articles of association, the Companies Act 2006 and "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 1st January 2019). OBJECTIVES AND ACTIVITIES The charity's objectives are to improve the quality and biodiversity of the River Thame and its surrounding freshwaters and to improve public understanding, appreciation and enjoyment of the river catchment and its wildlife. The Trust operates in Oxfordshire and Buckinghamshire and works with local people volunteers, farmers, and landowners - 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. The Trust's activities include- Improving biodiversity and habitat resilien through practical works on-the-ground. Increasing understanding of and monitoring changes in the bird, fish, insect and plant life of the Thame catchment" Improving water quality through engagement with landowners, farmers, the community and water companies, as well as monitoring and reporting water quality in the river and its streams- Improving knowledge, understanding and appreciation of the freshwater environment of the River Thame through communication and engagement; Increasing the recognition of rivers and streams in local planning frameworks. Strategic principles The Board continued to endorse the Trust's strategic priorities based on four themes.. Partnerships. The Trust will encourage delivery partnerships with other NGOS with complementary interests. Biodiversity. The Trust's Conservation Committee emphasised the need for a strong biodiversity focus, concluding that project delivery programme should focus on a new high profile programme of floodplain restoration, targeted in the mid and lower Thame. People. The Trust's activities should continue to maximise volunteer led practical I citizen science projects and community education programmes. Financial Sustainability. The Trust should endeavour to diversify and enhance its income and to strengthen its reserves in order to provide adequate working capital and financial sustainability, especially as many project grants are paid retrospectively. ACHIEVEMENT AND PERFORMANCE During 2023124 the Trust again made substantial progress through successful delivery of projects, increasing the number of volunteer activities, consolidating the fam) clusters and raising recognition of the Trust as a reliable delivery partner. Such progress has helped the Trust bid successfully for projects under new national initiatives such as Landscape Recovery and Biodiversity Net Gain. These projects are in line with the Trust's medium and long term strategy requiring recruitment of additional staff both to deliver the projects and to provide additional managemenufinancial support for a small, but growing charity. Two key Projects delivered in 2023124 The Chalgrove Brook is a rare chalk stream featuring a population of wild brown trout, however the presence of barriers and obstructions emerged as significant factors impeding the resilience and abundance of fish populations. Funding from the Environment Agency (EA) Water and Environment Investment Fund (WEIF), was used to create a bypass channel at Stadhampton Mill that allows fish to navigate past the old weir, thus Page 2
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 5127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 opening up approximately 3.25 km of vital chalk stream habitat for brown trout and other species. The Chearsley Floodplain Restoration project created a wetland mosaic to increase ecosystem benefits like aquifer recharge, nutrient filtering, reduced flooding, and habitat provision all while retaining the field as lush grazing pasture for livestock. The project was made possible by working in partnership with Freshwater Habitats Trust and the Environment Agency to design and deliver the new wetland on the ground. The project could not have been undertaken without the support of the landowner and local farmer Rose Dale and was funded through Defra's Green Recovery Challenge Fund and through our Environment Agency funded Engaging with Farmers project. This site has become another stepping stone for wildlife along the River Thame floodplain corridor, leading on from our first wetland project at Eyihrope. Volunteer activities Thanks to our dedicated volunteers and partners the Chiltem Rangers, over 400 meters of chalk stream were improved as part of our Chalk Stream Strategy funded by the Environment Agency. The Trust has run a course for volunteers to become certified Riverfiy monitors. Volunleers were trained to accurately sample aquatic invertebrates, measure the health of rivers and monitor for pollution events using Riverfly Monitoring Initiative (RMI) methods. The Trust's Water Quality Monitoring Network continues to train volunleers to sample, measure, and record data on a monthly basis from designated sites across the Thame catchment. The data collected is publicly available and is enabling the Trust to better understand pollution sources, their ecological impact, the required actions including engagement with regulators, the water industry and other parties. Recognition The increased recognition of the Trust's achievements and profile over recent years is shown by the award of two projects which fall within new national initiatives to restore and maintain the natural environment. Funded through the Department for Environment Food and Rural Affairs, (Defra) new Landscape Recovery programme, farmers and landowners across Oxfordshire and Buckinghamshire are collaborating with conservation charities to find innovative ways to secure a better future for the region's wildlife. A pioneering project led by the Freshwater Habitats Trust and the Trust involves more than 90 landowners and other partners. The project aims to protect and enhance wildlife and environmental resources, at a landscape scale across the Ock and Thame Catchments while simultaneously meeting the vital need for high-quality food produced by British farms. Biodiversity Net Gain, commonly referred to as BNG, is a legal requirement in England aimed at offsetting biodiversity loss resulting from development by improving habitat or creating new habitat either within the development site itself, or offsite. BNG revolves around the central tenet that specified developments {e.g. housing and infrastructure) should yield a net positive effect on the surrounding ecology, surpassing the pre- development state. BNG is now a legal requirement- the Environment Act requires the majority of planning consents in England to demonstrate a 10 /0 uplift in biodiversity (compared to pre-development). One of the first national BNG projects is being undertaken by RTCT in collaboration with the Trust for Oxfordshire's Environment (TOE) and a member of Thame Valley Farm Cluster. Fam) Cluster The Thame Valley & Lower Thame clusters have been amalgamated into the one large, joined-up. Thame Catchment Farm Cluster, with RTCT acting as cluster Facilitator. More farmers with land along the Thame are being invited to join the cluster to fill gaps in the network. The cluster is working towards a more formalised structure which will allow for the planning of more strategic and significant gains. The cluster will continue the farmer knowledge exchange programme and continue moving forward with smaller projects that all farms can deliver. Page 3
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 6127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 New Staff A part-time Financial Controller was appointed at the start of 2023124. New project budgeling and reporting processes have provided greater transparency and accuracy to the Management and Statutory Accounts, and particularly where overheads are not fully covered. Two new project staff have also been appointed for major new projects starting from April 2024, as the charity scales up its activities. Financial Review With the new Financial Controller starting in April 2023. there were demonstrable improvements to the structure and formatting of the quarterly Management Accounts, which has allowed the Trustees to better understand the key drivers behind the financial performance. There were significant improvements in financial controls throughout the charity, most notably the introduction of a new cloud-based time recording system where staff record their time spent working on projects, allowing complete transparency, and enabling the efficient collection of information for funders when funding claims are being made. 2023124 ACCOUNTS During 2023124, incoming resources totalled £474,601 (2022123 - £481,161). This was a challenging year for the charity though, with costs much higher than the previous year due to a number of factors, most notably the additional staff costs, and higher than normal overhead costs. During the 2023124 financial year, approximately 113 of our Unrestricted Reserves were used. 2023124 is seen as a transitional year, caused by the amount of time the project team spent preparing bids for long temi funding, as well as adjusting for the higher level of salary costs now being incurred by the charity that arose from the both the increased headcount and cost-of- living increases that could not have been anticipated at the time when bids for project funds were prepared. It is expected that with two new large, long-term projects secured in 2024, the financial performance for 2024125 will likely show a big improvement. GOING CONCERN The Trustees consider that there are no material UnrtaIntieS that would affect the Trust's ability to continue as a going concem. RESERVES At the end of this 12 month period the Trust had reserves totalling £515,293, made up by £337,946 of Unrestricted Reserves, and £177,347 of Restricted Reserves, as set out in Note 18. During 2023124 surplus funds totalling £150,000 were invested by the Charity in two funds managed by CCLA, which had a market value of £161.125 as at 31 March 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is established as a company limited by guarantee and is govemed 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. The trustees, who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were- Dr K Mccullagh Mr C O Peers Mr D A Wales Dr M Barnett Mr B S Piper Ms J J Jackson Mr N J Marriner Page 4
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 7127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Mrs S M Cattell Approved by order of the members of the board of Trustees and signed on their behalf by: rhéLI .7 eimiAcuJllW 173?414.29'T IUTC411 Dr K Mccullagh Trustee Date.. 12 September 2024 Page 5
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 8127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of River Thame Conservation Trust ('the Company,) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and Basis of Report As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement Since the Company'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 that l am qualified to undertake the examination because l am a member of FCA, which is one of the listed bodies. I have completed my examination. I confim that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or the accounts do not accord with those records" or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems 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 accounts to be reached. This reporl is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent pemitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed.. P. Dated: 17 September 2024 Alexander Peal Bsc (Hons) FCA DChA James Cowper Kreston Greenharm Business Park 2 Communications Rd Newbury Berkshire RG19 6AB Page 6
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 9127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments 558 1,009 27,564 2,597 1,567 470,437 2,597 3,991 477,170 442.873 Total income 443,431 31,170 474,601 481, 161 Expenditure on: Raising funds Charitable activities Other expenditure 1,260 171,159 1,260 507,670 17,912 439,598 83 336.511 Total expenditure 336,511 172,419 508,930 457,593 Net incomel{expenditure) before net gains on investments Net gains on investments 106.920 {141,249) 11,125 (34,329) 11,125 23,568 Net movement in funds 106,920 (130,124) {23,204) 23, 568 Reconciliation of funds: Total funds brought forward Net movement in funds 70,427 106.920 468,070 {130,124) 538,497 (23,204) 514,929 23,568 Total funds carried forward 177.347 337,946 515,293 538,497 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 9 to 24 fonn part of these financial statements. Page 7
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 10127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) REGISTERED NUMBER: 08399778 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets Investments 12 1,813 4,697 161,125 3,469 7,218 13 14 167,635 10,687 Current assets Debtors 72.157 294,292 210,605 473, 233 Cash at bank and in hand 366,449 683, 838 Creditors= amounts falling due within one year 16 (18,791) (156,028) Net current assets 347,658 527,810 Total assets less current liabilities 515,293 538,497 Total net assets 515,293 538, 497 Charity funds Restricted funds Unrestricted funds 18 18 177,347 337,946 70,427 468,070 Total funds 515,293 538,497 The Company was entitled to exemption from audit under section 477 of the Companies Acl 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Acl with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: èimMc4XJlIa 17Sep2UZ4 142908BSTIuTC411 Dr K Mccullagh Date.. 12 September 2024 The notes on pages 9 to 24 fomi part of these financial statements. Page 8
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 11127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 General information River Thame Conservation Trusl is a private Company limited by guarantee and incorporated in England and Wales. 1.2 Basis of preparation of financial statements The financial statements have been prepared in accordan with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. River Thame Conservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othemise stated in the relevant accounting policy The charity has chosen to take advantage of the provisions in the SORP for charities to not prepare as Statement of Cash Flows. 1.3 Going concern The trustees believe, at the time of approving the financial stalements, that the charity has adequate resources to continue in operational existence for the forseeable future. Therefore, the financial statements are continued to be prepared using the going concem basis of accounting. 1.4 Income All income is recognised once the Charity has entitlement to the income, after any performance conditions have been met, it is probable that the income will be reiVed and the amount of income receivable can be measured reliably. Cash donations are recognised on receipt. Other donations are recognised when the charity has been notified of the donation, except where peformance conditions require the defferal of the amount. Grants are included in the Statement of financial activities on a re1vable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Page 9
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 12127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation 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 costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity- this is nom)ally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.7 Intangible assets and amortisation Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life. Amorlisation is provided on the following basis- Website costs 33 /0 Straight line 1.8 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulaled impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Page 10
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 13127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.8 Tangible fixed assets and depreciation (continued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following basis: Plant and equipment Computer equipment 20 % straight line 33 /0 Straight line Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities. 1.9 Investments Fixed asset investments are a fom of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments, in the Statement of financial activities. 1.10 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.11 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 1.13 Pensions The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. Page 11
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 14127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.14 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. Income from donations and legacies Restricted Unrestricte funds d funds 2024 2024 Total funds 2024 Donations and gifts 558 1,009 1,567 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Donations and gifts 2, 996 995 3,991 Income from charitable activities Restricted Unrestricte funds d funds 2024 2024 Total funds 2024 Conservation Grants and Project Income 442,873 27,564 470,437 Page 12
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 15127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities (continued) Restricted Unrestricled funds funds 2023 2023 Total funds 2023 Conservation Grants and Project Income 403, 598 73, 572 477,170 Investment income Unrestricte d funds 2024 Total funds 2024 Total funds 2023 Bank interest 2.597 2,597 Expenditure on raising funds Fundraising and publicity Unrestricte d funds 2024 Total funds 2024 Other fundraising costs 1,260 1,260 Page 13
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 16127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds (continued) Fundraising and publicity (continued} Unrestricted funds 2023 Total funds 2023 Other fundraising costs Staff Costs 2,520 15,392 2,520 15,392 17,912 17,912 Analysis of expenditure on charitable activities Summary by fund type Restricted funds 2024 Unrestricte d funds 2024 Total 2024 ConseNation costs 336.511 171.159 507,670 Restricted Unrestricted funds funds 2023 2023 Total 2023 Conservation costs 371,990 67,608 439, 598 Page 14
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 17127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Other expenditure Total funds 2024 Loss on diposal Unrestricted funds 2023 Total funds 2023 Loss on disposal 83 83 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Conservation costs 506.920 750 507,670 Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Conservation costs 439, 098 500 439,598 Page 15
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 18127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activities (continued) Analysis of direct costs Total funds 2024 Total funds 2023 Staff costs 272,408 5,161 954 932 209,410 5, 084 7, 135 615 Depreciation Travel and subsistence Telephone, internet and postage Subscriptions Professional fees - administration Office rent 846 1, 128 6, 823 8,849 8, 900 712 4,088 14,037 6,292 1,605 574 Recruitment Printing and stationery Office equipment Miscellaneous expenses Information technology Audit and accountancy fess Conferences and marketing Staff training Conservation costs 238 {683) 11,899 16,126 9,936 5, 855 14,001 2, 836 4,212 151,596 1,768 693 169,087 2,610 106 141 Insurance Bank fees Trustee meetings and expenses 506,920 439,098 Analysis of support costs Total funds 2024 Total funds 2023 Governance costs 750 500 Page 16
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 19127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's remuneration 2024 2023 Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts Fees payable to the Company's independent examiner in respect of: All other services not included above 750 500 2,000 10. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 231,950 19,582 20,876 192, 590 16,360 15,852 272,408 224, 802 The average number of persons employed by the Company during the year was as follows: 2024 No. 2023 No. Employees The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 2024 No. 2023 No. In the band £60,001- £70,000 11. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 17
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 20127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Intangible assets Website costs Cost At 1 April 2023 5,400 At 31 March 2024 5,400 Amortisation At 1 April 2023 Charge for the year 1,931 1,656 At 31 March 2024 3,587 Net book value At 31 March 2024 1,813 At 31 March 2023 3,469 Page 18
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 21127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Tangible fixed assets Plant and equipment Computer equipment Total Cost or valuation At 1 April 2023 Additions 10,779 5,042 996 15,821 996 At 31 March 2024 10,779 6,038 16,817 Depreciation At 1 April 2023 Charge for the year 6,747 1,805 1.856 1.712 8,603 3,517 At 31 March 2024 8,552 3.568 12,120 Net book value At 31 March 2024 2,227 2,470 4,697 At 31 March 2023 4, 032 3,186 7,218 14. Fixed asset investments Listed investments Cost or valuation Additions 150,000 11,125 Revaluations At 31 March 2024 161,125 Net book value At 31 March 2024 161,125 Page 19
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 22127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Debtors 2024 2023 Due within one year Trade debtors 70,018 24,868 181,799 3, 938 Other debtors Prepayments and accrued income 2,139 72,157 210,605 16. Creditors: Amounts falling due within one year 2024 2023 Trade creditors 3,138 6,148 2,763 1,442 5,300 18,723 5,551 Other taxation and social security Pension payable Other creditors Accruals and defeed income 930 130,824 18,791 156,028 2024 2023 Deferred income at 1 April 2023 Amounts released from previous periods Resources deferred during the year 29,000 (29,000) 2,000 71, 182 (71, 182) 29, 000 2,000 29,000 Deferred income is included within current liabilities within the accruals and deferred income figure 17. Financial instruments 2024 2023 Financial assets Financial assets measured at fair value through income and expenditure 294,292 473,233 Financial assets measured at fair value through income and expenditure comprise of bank and cash. Page 20
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 23127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Gainsl (Losses) Income Expenditure Unrestricted funds General Funds- all funds 468,070 31,170 (172,419) 11,125 337,946 Restricted funds Stadhampton Weir Bypass EA Funded 133.500 {133,500) Dorchester Weir- Garfield Weslon 37.747 50,000 87,747 Dorchester Weir Bypass EA Funded Chalk Stream Strategy EA Water Quality Monitoring Chalk Streams FIPL CCB Catchment Partnership -CABA Defra Nature Based Solutions Farmers Engagement EA Funded Mid Thame River & Floodplain Rivers Week & Conference Thame & Ock Catchment Partnership Water Vole Recovery Community Action SusThame 30,350 28,558 28,455 8,897 18,450 1,645 (30,350) (59,558) (28,455) (8,897) (14,850) (1,645) 31,000 3,600 18,000 5,000 8,500 (18,000) (5,000) (10,180) 1.680 15,000 14,677 15,599 66.800 (5,000) (14,677) (2,599) (3,800) 10,000 13,000 63,000 70.427 443,431 (336,511) 177,347 Total of funds 538,497 474,601 (508,930) 11,125 515,293 Page 21
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 24127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of funds (continued) Statement of funds - prior year Balance at 31 March 2023 Balance at l Apnl 2022 Transfers in/out Income Expenditure Unrestricted funds General Funds- all funds 502, 144 74,567 (85, 603) (23, 038) 468,070 Balance at 31 March 2023 Balance at 1 Apnl 2022 Transfers in/out Income Expenditure Restricted funds Bird Atlas Analysis Catchment Partnership - CABA Chalk Streams FIPL CCB (693) 2,176 1.000 11,750 2. 800 74,201 (307) (13, 926) (2, 800) (56, 787) Chalk Stream Strategy EA Dorchester Weir- Garfield Weston 7,373 6,213 31,000 50,000 (12, 253) 37,747 Dorchester Weir Bypass EA Funded 27,999 (27,999) Farmers Engagement EA Funded 3.929 35,105 3, 787 (39, 034) (3, 787) Green Deal FHT HLF Water in a Dry Landscape Chiltems (124) 124 Mid Thame River and Floodplain NE Seedcorn 21,000 24, 868 (21,000) (24, 868) (1,988) (4, 246) OCE Fundraising Riverfy Network Rivers Week and Conference SODC Stadhampton Weir Bypass EA Funded 1,988 1, 156 3.090 6, 680 (6, 165) 1,165 1,680 126,000 (126, 000) (39) TOE Project TW Catchment Partnership Funding Volunteer Network 2023 39 4.000 (1,800) 14,314 1,800 (8, 875) (4, 028) (15,964) (1,800) 4,875 5, 828 1,650 Water Quality Monitoring Riverfy - Doyly Cart 12,785 406,594 (371,990) 23, 038 70,427 Page 22
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 25127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of funds (continued) Total of funds 514,929 481,161 (457, 593) 538,497 19. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Gainsl (Losses) Income Expenditure General funds Restricted funds 468.070 70.427 31,170 443,431 {172,419) (336,511) 11,125 337,946 177,347 538.497 474,601 (508,930) 11,125 515,293 Summary of funds - prior year Balance at 31 March 2023 Balance at 1 Apnl 2022 Transfers in/out Income Expenditure General funds 502, 144 12,785 74,567 406,594 (85, 603) (371,990) (23, 038) 23, 038 468,070 70,427 Restricted funds 514,929 481,161 (457, 593) 538,497 20. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted funds 2024 Unrestricte d funds 2024 Total funds 2024 Tangible fixed assets Intangible fixed assets Fixed asset investments 4,697 1.813 161,125 189.102 {18,791) 4,697 1,813 161,125 366,449 {18,791} Current assets Creditors due within one year 177.347 Total 177,347 337,946 515,293 Page 23
VithalSignatur8 Transaction Ref. 37Z2-6B67-FZTH 17 Sep 2024 14..29..11 BST (UTC +11 D 112 P 26127 RIVER THAME CONSERVATION TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior peri¢xl Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year 7,218 7,218 3,469 3,469 683, 838 683, 838 (226,455) (156,028) 70,427 Total 70,427 468,070 538,497 21. Pension commitments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £20,876 (2023 £15,852). £2,763 (2023- £331) were payable to the fund at the balance sheet date and are included in creditors. 22. Operating lease commitments At 31 March 2024 the Company had commitments to make future minimum lease payments under non- cancellable operating leases as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 843 12,240 843 1,686 12,240 23. Related party transactions The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2024. Page 24