## **EAST MERCIA RIVERS TRUST**
**Charity No. 1157922**
**Company No. 08613863**
**Trustees' Report and Unaudited Accounts**
**31 March 2023**
**EAST MERCIA RIVERS TRUST Contents**
||Pages|Pages|
|---|---|---|
|Chairman Report||1|
|Trustees' Annual Report|2 to 9||
|Independent Examiner's Report||10|
|Statement of Financial Activities Summary Income and|111||
|Expenditure Account|112||
|Balance Sheet||13|
|Notes to the Accounts|14 to|23|
|Detailed Statement of Financial Activities|24 to 25||
## **EAST MERCIA RIVERS TRUST**
## **CHAIR’S REPORT**
Following an approach from the trustees of Welland Rivers Trust (WRT), Lincolnshire Rivers Trust (LRT) took on the activities of WRT in October 2022. To reflect the increased geographical spread of the trust, the name was changed to East Mercia Rivers Trust (EMRT) and the charitable objectives of LRT were revised to state that the trust is operational in both the Witham and Welland catchments. Unrestricted funds totalling £34,291 and restricted funds amounting to £13,142 were transferred to LRT and WRT formally closed in October 2022. The restricted funds were concerned with three projects: Langton Brook river restoration at Smeeton Westerby, catchment hosting for the Welland Valley Partnership and River Warden training.
Two former LRT trustees resigned, one due to health issues and the other work commitments, and three trustees transferred from WRT. The incoming trustees added considerable expertise to the Board including education, local government, water environment, and the construction sector.
Although the amalgamation of the two trusts took longer and was more complicated than expected, these changes have enabled EMRT to upscale its ambitions to bid for significantly larger projects and multi-year funding bids. This has been critical in EMRT’s development and progress during this transition year.
It has proven prudent to employ an experienced fundraiser and programme manager at the end of 2021, as EMRT’s income has risen and the Trust made a profit this year. Around 18% was drawn from unrestricted funding sources and of the restricted funds approximately 75% was received from government (public) funding sources. We were also thankful for funding from Garfield Weston, which has been helpful in strengthening EMRT’s governance and developing the project priority areas.
There is justifiable optimism amongst the trustees and employees of EMRT that the building blocks put in place during the year will lead to significant growth in 2023/24.
Andrew Morriss Chair September 2023 East Mercia Rivers Trust
Page 1
**EAST MERCIA RIVERS TRUST Trustees Annual Report**
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Company No. 08613863**
## **Charity No. 1157922**
## **Principal Office**
Loddington House Main Street Loddington Leicester LE7 9XE
## **Registered Office**
Loddington House Main Street Loddington Leicester LE7 9XE
## **Directors and Trustees**
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
M.J. Ballard M.J. Bills J.S. Birch J. Bolland M. Hatfield J.K. Leventhall R. Marshall (Resigned 1 December 2022) A.S. Morriss L.H. Vickers (Resigned 27 September 2022) **Company Secretary** S.M. Turner (Resigned 23 August 2022)
## **Accountants**
Brooks & Partners Accountants Ltd 22 St Peter's Street Stamford Lincolnshire PE9 2PF
## **Bankers**
The Co-Operative Bank PO Box 101 1 Balloon Street Manchester M60 4EP
Page 2
## **EAST MERCIA RIVERS TRUST**
## **Trustees Annual Report**
## **Governance**
East Mercia Rivers Trust is a registered charity governed by a Board of Trustees. The charity is controlled by its Articles of Association, and constitutes a company limited by guarantee, as defined by the Companies Act 2006. The day-to-day operations are led by the Executive Director with support from a financial and administrative officer, the technical team grew from five to seven during 22/23 with two employees transferred from WRT. EMRT remains part of the national Rivers Trust movement, which continues to grow and has around 65 member trusts.
## _**Risk & Governance Committee**_
At the end of the 22/23 financial year the Trustees set up a committee that aims to.
- Test and challenge all operational aspects of EMRT’s activities in readiness for growth.
- Confirm that accountability is set at the appropriate person(s).
- Ensure trustee collective capabilities and knowledge are fit to deliver strategic intent.
- Assure financial mechanisms and deliver clear information to run the company.
- Oversee HR matters, e.g., annual salary reviews and staff performance.
- Refine the strategy and governance documents to support delivery.
- Ensure correct policies and procedures are in place.
## _**Recruitment and appointment of new trustees**_
The recruitment of Trustees is by invitation from East Mercia Rivers Trust Trustees. Subject to the Articles of Association, selection is based on expertise that is judged to add value to the activities and growth of the Trust.
## _**Induction and training of new trustees**_
The induction and training provided for new Trustees is tailored to the individual depending on their existing experience and capability. Newly appointed Trustees receive a letter of appointment and a copy of EMRT’s Trustee manual. Trustees provide mutual support in ensuring all Trustees have appropriate knowledge and information to be able to contribute to Board proceedings.
## _**Reserves Policy**_
EMRT maintains a minimum of one year’s reserves (unrestricted funds) that are freely available to spend on the charity's purposes.
Page 3
## **EAST MERCIA RIVERS TRUST**
## **Trustees Annual Report**
## **Mission & Aims**
Since October 2022, additional priority Welland catchment programmes and projects were added to the work programme. In total, there are over 120 watercourses within the Welland and Witham catchments, EMRT is operational in five counties: Lincolnshire, Leicestershire, Northamptonshire, Cambridgeshire, and Rutland.
Following the formation of EMRT in October, the organisational mission and aims were revised and a three-year strategy approved by the Board in December 2022. These are as follows.
## _**Mission**_
Bringing rivers back to life for nature and communities.
## _**Aims**_
The headline KPI achievements for the aims are identified below.
|**_Aim 1: Resilient Rivers_**|**_Achievements 2022 - 2023_**|
|---|---|
|To create and protect healthy, clean,
and resilient watercourses by,
restoring and enhancing habitats,
increasing water storage,
improving water quality and
controlling and removing invasive
species.|
River restoration and enhancement projects included.
`o` Greening Brayford Pool, 40 m of floating ecosystem
installed.
`o` Stamford millstream with 300 m of river enhanced
with in-channel berms, replacement of a weir with a
rock ramp and bank regrading.
`o` Hykeham, 100m fish refuges installed.
Developed a water quality monitoring programme &
assessment of Natural Flood Management (NFM) for
Rauceby Estates
90km of river treated for Pennywort.
20km of river treated for Himalayan Balsam
Over 30 potential project sites identified across the
Lincolnshire Limestone region.|
|**_Aim 2: Rivers for Life_**|**_Achievements 2022 - 2023_**|
|To inspire local communities,
landowners, businesses, and
recreational river-users to act for
rivers by,
building data and evidence,
delivering educational activities
and advisory services,
Improving access to nature, and
raising awareness.|
Rivers Academy seed funding secured through HLF.
Hosted a 3rdGeography University of Lincoln Student.
As part of a Nene Rivers Trust HLF bid, EMRT are
supporting the training of volunteers centred around
Rockingham Forest.
Eels in the Classroom was delivered to schools in
Grantham.
Attendance at large community events such as
Lincolnshire Show and Burghley House Game &
Wildlife Show.|
Page 4
||
Earthwatch water quality monitoring by volunteers
continues.
Water vole warrior and Mayfly in the Classroom
education initiatives delivered to over 100 children as
part of the LBs engagement programme: including
schools and scout groups.|
|---|---|
|**_Aim 3: Building collaboration_**|**_Achievements 2022 - 2023_**|
|To advocate the catchment-based
approach by facilitating the Welland
Valley and Witham Catchment
Partnerships.|
Meetings and field visits conducted as part of the
catchment partnership meetings.
New members added to the partnerships included
local authorities.
Both catchment plans were updated and revised in
consultation with partners.|
|**_Aim 4: Creating sustainability and_**
**_security_**|**_Achievements 2022 - 2023_**|
|To build organisational stability and
relevance by,
diversifying projects and donors,
positioning as the knowledge
centre for the catchments,
creating a high profile, and
investing in staff.|
Income percentage increased from non-governmental
sources including private sources.
Number of all year-round projects increased.
Profile raised through increased number of press
releases leading to media interviews and news articles
on project developments such as Brayford Pool and
Branston Beck.
Staff training was increased which ranged from
safeguarding to technical restoration courses.|
Page 5
## **EAST MERCIA RIVERS TRUST**
## **Trustees Annual Report**
The programme activities are set out in more detail below.
## _**Resilient Rivers**_
The upper catchment headwater programmes aim to increase water storage, slow water flow, and improve the water quality through large-scale restoration works such as reconnecting floodplains, reinstating paleo channels, installing back channels, wetlands, and scrapes or smaller scale natural flood management measures and in-channel installations such as berms.
## 1. Bringing the Limestone Becks Back to Life Programme
- a. An on-going partnership with the Environment Agency and Wild Trout Trust. During this financial year the Branston Beck Heritage Lottery project was successfully completed. Funding was secured for landowner engagement to identify and work up a series of projects. The primary focus has been Dunston, Nocton, Nettleham and Branston Beck. Funding was secured to cover small-scale habitat works. A document outlining the importance of the cultural heritage of the becks, as well as their ecological value was published in late 2022.
## 2. Rejuvenating Lincolnshire’s Chalk Streams
- a. Seed funding was provided by the EA to scope projects for the Bain and Waring, the two rivers forming the confluence where the historic Roman town of Horncastle is located. Both rivers are in bad condition, the Bain is a key tributary to the Witham and the Waring is lacking flow and is plagued by algal blooms. UK Shared Prosperity funding secured until March 2025 to kickstart the development of a future chalk stream hub in Horncastle.
3. Upper Witham Headwaters Programme
- a. The Upper Witham is an important limestone watercourse forming the headwaters of the Witham catchment. The project is part of a strategy to restore the Upper Witham subcatchment at a landscape level. The main capital project for the Upper Witham in planning for the year, was the floodplain reconnection on Buckminster Estates.
- b. Natural Flood Management Scoping has also been undertaken to scope opportunities to work with landowners within the sub-catchment.
- c. EMRT commissioned designs for the Saltersford Mill project, however due to significant construction works, which will be on-going for several years, this project is shelved as access to the site is not possible.
## 4. Upper Welland Headwaters Programme
- a. _Smeeton Westerby:_ A major restoration is scheduled for Langton Brook at Smeeton Westerby. Langton Brook is one of twenty tributaries that feeds the Upper Welland, a main source for Rutland Water.
- b. _Natural Flood Management:_ Scoping has been undertaken within the sub-catchment. This complements expert modelling work upstream of Market Harborough, commissioned by the EA. The final report is expected mid 23/24. This will be used to inform EMRT NFM activities.
- c. _Langton Brook - Welland confluence:_ In early 2023, EMRT engaged with a group of landowners located on the confluence, who have an ambition to work together to deliver a large-scale river restoration project. The landowners have funded EMRT to coordinate on their behalf. This project will be progressed further in 23/24.
Page 6
## **EAST MERCIA RIVERS TRUST**
## **Trustees Annual Report**
## 5. Greening Brayford Pool Project
- a. The floating ecosystems were added to the island as part of phase 3 of this project. These low maintenance habitats have proved very popular with the local community and monitoring by the Environment Agency and the University of Lincoln is underway.
## 6. Lower Witham Programme
- a. Working with the angling club Hykeham Fish refuges were installed along a 100-metre section and provided a soft toe protection for riverbank. This provided much needed fish and invertebrate habitat on a barren section of river.
## 7. Stamford Millstream
- a. The Millstream has been an important feature of Stamford for almost 1000 years. EMRT and the Environment Agency in partnership with the Stamford Millstream Group have undertaken various habitat improvements over the last three years. The habitat works included installation of coir berms, bank regrading, formation of a gravel beach to improve safe access and the removal of a weir (fish barrier) which was replaced by a rock ramp. The project was funded by the EA, Harry Skells Fund, and the Stamford Town Council, in consultation with the Stamford Millstream Group.
8. Himalayan Balsam Project
- a. An on-going project that aims to eradicate Himalayan Balsam along the river Witham. Funding from the Environment Agency for removal and eradication is currently unavailable therefore other funding sources such as Anglian Water are being considered. However, EMRT continues to work closely with partners at RiverCare and volunteers to conduct ‘Balsam Bash’ events as standalone work parties or as part of projects.
9. Floating Pennywort Project
- a. An on-going Environment Agency partnership agreement with additional funding provided by the Canal and River Trust. Environment Agency funding issues May-August 2022 and extreme heat led to an overall increase in Floating Pennywort presence in 2022. However, EA and Canal & Rivers Trust have continued to support the project into 23/24 and along with RiverCare, EMRT have conducted volunteer training sessions for Floating Pennywort identification and continue to work alongside contractors to aim for complete eradication of Floating Pennywort in the catchments.
Page 7
## **EAST MERCIA RIVERS TRUST**
## **Trustees Annual Report**
## _**Rivers for Life**_
The main activities of this programme are centred on developing a Rivers Academy, environmental education, community engagement and water stewardship.
1. Rivers Academy
- a. Heritage Lottery Funding was secured in late 22/23 to conduct a feasibility study, develop a business plan, and undertake pilots with schools. Located at the National Trust's Belton House near Grantham, it is set to be the UK’s first permanent rivers school. The learning-based activities planned range from curriculum-based education to citizen-science based adult training, through to children’s summer holiday activities. Belton House offers an easily accessible, prestigious location, classrooms with facilities and on-site access to a section of the River Witham that has been restored. Grantham is centrally located in England and easily accessible by road and rail. It is intended to build a programme to train volunteers at the Academy, feeding directly into the Local Nature Recovery Strategy (LNRS) and working with Local Authorities and developers in monitoring Biodiversity Net Gain (BNG). The initiative will benefit people of all ages, abilities, and backgrounds locally and nationally.
## 2. Volunteer Activities
- a. All the main resilient river projects involved volunteers. For the Welland catchment the River Warden continues to operate with training delivered in Stamford. Collaboration is on-going with Nene Rivers Trust in relation to the Rockingham Forest Vision project. For Witham Catchment, estimated total of 83 full days with approx. 80 different volunteers for project work parties, Freshwater watch and Riverfly and student placement consultant.
## 3. Water Quality & Stewardship
- a. Funding was received from the Environment Agency to purchase a sophisticated water quality monitoring kit, which gives more accurate results.
- b. Numerous scoping visits have been undertaken across both catchments and development work is underway to develop a water stewardship service. This is in its infancy and the groundwork was funded through the catchment partnership hosting payment. The national Rivers Trust is championing this work through the Replenish programme and the results of this development will feed into EMRT activities in 23/24.
Page 8
**EAST MERCIA RIVERS TRUST Trustees Annual Report**
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
A.S. Morriss Trustee 27th September 2023
Page 9
**EAST MERCIA RIVERS TRUST Independent Examiners Report**
## **Independent Examiner's Report to the trustees of EAST MERCIA RIVERS TRUST**
I report to the charity trustees on my examination of the financial statements of EAST MERCIA RIVERS TRUST for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 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 your charity's financial statements as 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**
As 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 that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
- accounting records were not kept in accordance with 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 under section 396 of the 2006 Act other than any requirement that the financial statements 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 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 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.
Kate Fleming ACCA Brooks & Partners Accountants Ltd 22 St Peter's Street Stamford Lincolnshire PE9 2PF
20 September 2023
Page 10
**EAST MERCIA RIVERS TRUST Statement of Financial Activities**
## **for the year ended 31 March 2023**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Other trading activities
5
**Total**
**Expenditure on:**
Raising funds
6
Charitable activities
7
Other
8
**Total**
Net gains on investments
**Net income/(expenditure)**
9
Transfers between funds
**Net income/(expenditure)**
**before other gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
71,236
5,046|**Restricted**
**funds**
**2023**
**£**
369,059
-|**Total funds**
**2023**
**£**
440,295
5,046|**Total funds**
**2022**
**£**
406,397
5,314|
|---|---|---|---|---|
||76,282
1,185
24,729
20,301|369,059
-
353,496
-|445,341
1,185
378,225
20,301|411,711
11,789
529,430
9,873|
||46,215
-|353,496
-|399,711
-|551,092
-|
||30,067
(6,317)|15,563
6,317|45,630
-|(139,381)
-|
||23,750|21,880|45,630|(139,381)|
||23,750
153,020|21,880
44,461|45,630
197,481|(139,381)
336,862|
||176,770|66,341|243,111|197,481|
Page 11
**EAST MERCIA RIVERS TRUST Summary Income and Expenditure Account**
## **for the year ended 31 March 2023**
|Income
**Gross income for the year**
Expenditure
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net income/(expenditure) before tax
for the year
**Net income /(expenditure )for the year**|**2023**
**£**
445,341
445,341
399,217
494
399,711
45,630
45,630|**2022**
**£**
411,711|
|---|---|---|
|||411,711|
|||550,586
506|
|||551,092|
|||(139,381)|
|||(139,381)|
Page 12
**EAST MERCIA RIVERS TRUST Balance Sheet**
## **at 31 March 2023**
|**Company No.**
**08613863**
**Notes**
**2023**
**£**
**Fixed assets**
Tangible assets
12
824
824
**Current assets**
Debtors
13
103,877
Cash at bank and in hand
145,090
248,967
**Creditors:**Amount falling due within one year
14
(6,680)
**Net current assets**
242,287
**Total assets less current liabilities**
243,111
**Net assets excluding pension asset or liability**
243,111
**Total net assets**
243,111
**The funds of the charity**
**Restricted funds**
15
Restricted income funds
66,341
66,341
**Unrestricted funds**
15
General funds
185,810
Designated funds
(9,040)
176,770
**Reserves**
15
**Total funds**
243,111|**2022**
**£**
1,318|
|---|---|
||1,318
6,427
231,184|
||237,611
(41,448)|
||196,163
197,481|
||197,481|
||197,481|
||44,461|
||44,461
132,520
20,500|
||153,020|
||197,481|
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 27th September 2023
And signed on its behalf by:
A.S. Morriss
Trustee 27th September 2023
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
## **for the year ended 31 March 2023**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## **Fund accounting**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 14
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
## **Expenditure**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Tangible fixed assets and depreciation**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and equipment 33.33% straight line
## **Freehold investment property**
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
## **Stocks**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 15
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Research and development**
Expenditure on research and development is written off in the year in which it is incurred.
## **Foreign currencies**
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
## **Leased assets**
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
## **Pension costs**
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 16
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
## 2 **Company status**
The company is a private company limited by guarantee and consequently does not have share capital. The liability of each member in the event of winding up is limited to £1.
## 3 **Statement of Financial Activities - prior year**
|**Income and endowments from:**
Donations and legacies
Other trading activities
**Total**
**Expenditure on:**
Raising funds
Charitable activities
Other
**Total**
**Net income**
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
4
**Income from donations and legacies**
Donations
Grants|**Unrestricted**
**£**
22,267
48,969
71,236|**Unrestricted**
**funds**
**2022**
**£**
35,007
5,314
40,321
6,234
98,380
9,873
114,487
(74,166)
80,416
6,250
6,250
152,482
158,732
**Restricted**
**£**
-
369,059
369,059|**Restricted**
**funds**
**2022**
**£**
371,390
-
371,390
5,555
431,050
-
436,605
(65,215)
(80,416)
(145,631)
(145,631)
184,380
38,749
**Total**
**2023**
**£**
22,267
418,028
440,295|**Total funds**
**2022**
**£**
406,397
5,314|
|---|---|---|---|---|
|||||411,711
11,789
529,430
9,873|
|||||551,092|
|||||(139,381)
-|
|||||(139,381)|
|||||(139,381)
336,862|
|||||197,481|
|||||**Total**
**2022**
**£**
11,585
394,812|
|||||406,397|
Page 17
**EAST MERCIA RIVERS TRUST**
**Notes to the Accounts**
- 5 **Income from other trading activities**
|5
**Income from other trading activities**|||||
|---|---|---|---|---|
|Consultancy and Speaking||**Unrestricted**
**£**
5,046
5,046|**Total**
**2023**
**£**
5,046
5,046|**Total**
**2022**
**£**
5,314|
|||||5,314|
||||||
||||||
|6
**Expenditure on raising funds**
_Costs of generating voluntary_
_income_
Advertising
Wages
_Fundraising trading costs_
7
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
Wages
Professional fees
Habitat Contractors
_Governance costs_
Accountancy|**Unrestricted**
**£**
22,404
206
-
2,119
24,729|**Unrestricted**
**£**
1,185
-
-
-
-
1,185
**Restricted**
**£**
119,112
11,656
222,728
-
353,496|**Total**
**2023**
**£**
1,185
-
-
-
-
1,185
**Total**
**2023**
**£**
141,516
11,862
222,728
2,119
378,225|**Total**
**2022**
**£**
6,223
5,566
-
-
-|
|||||11,789|
|||||**Total**
**2022**
**£**
93,266
4,794
429,030
2,340|
|||||529,430|
Page 18
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
8 **Other expenditure**
|**Unrestricted**
**Total**
**2023**
**£**
**£**
Employee costs
1,395
1,395
Motor and travel costs
6,481
6,481
Premises costs
1,045
1,045
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
494
494
General administrative costs
10,337
10,337
Legal and professional costs
549
549
20,301
20,301
9
**Net income/(expenditure) before transfers**
**2023**
This is stated after charging:
**£**
Depreciation of owned fixed assets
494
10 **Trustee remuneration and expenses**
One or more of the trustees has been paid expenses in the current or prior periods.
**2023**
**Number**
Number of trustees paid expenses
1
The nature of the reimbursed expenses
Travel and meeting costs
**£**
Total expenses reimbursed to trustees
31|**Total**
**2022**
**£**
-
4,870
-
506
4,497
-|
|---|---|
||9,873|
||**2022**
**£**
506
**2022**
**Number**
-
**£**
-|
## 11 **Staff costs**
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
|Project Officer
Administrator
Project Manager
The Rivers Trust Pension & Life Assurance Scheme|**2023**
**Number**
3
1
2
6|**2022**
**Number**
2
1
1|
|---|---|---|
|||4|
||||
Page 19
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
## 12 **Tangible fixed assets**
|**Cost or revaluation**
At 1 April 2022
At 31 March 2023
**Depreciation and**
**impairment**
At 1 April 2022
Depreciation charge for the
year
At 31 March 2023
**Net book values**
At 31 March 2023
At 31 March 2022
13 **Debtors**
Trade debtors
Other debtors
Prepayments and accrued income
14 **Creditors:**
amounts falling due within one year
Other taxes and social security
Other creditors
Accruals|**2023**
**£**
-
103,877
-
103,877
**2023**
**£**
2,927
1,054
2,699
6,680|**Plant and**
**equipment**
**£**
1,782
1,782
464
494
958
824
1,318|**Total**
**£**
1,782|
|---|---|---|---|
||||1,782|
||||464
494|
||||958|
||||824|
||||1,318|
||||**2022**
**£**
-
6,043
384|
||||6,427|
||||**2022**
**£**
2,641
-
38,807|
||||41,448|
Page 20
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
## 15 **Movement in funds**
|15 **Movement in funds**||||||
|---|---|---|---|---|---|
||**At 1 April**
**2022**
5,713
13,094
-
25,654
-
-
-
-
44,461
132,520
20,000
500
-
-
20,500
197,481|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
42,467
74,500
17,000
56,779
52,000
52,863
4,000
69,450
369,059
71,604
-
-
3,912
766
4,678
445,341|**Resources**
**expended**
**£**|**Gross**
**transfers**
**£**
(10,922)
12,549
392
1
(1,292)
2,377
1,700
1,512
6,317
4,909
(18,006)
6,780
-
-
(11,226)
-|**At 31**
**March**
**2023**
**£**
-
-
7,675
33,149
(784)
144
-
26,157|
|**Restricted funds:**
**Restricted income funds:**
EN CABA Witham, Welland,
Snagging and Volunteers
IN Himalayan Balsam and
Floating Pennywort
EN Schools and River
Academy
LB Branston, Dunston and
Limestone Becks
LN LW Brayford Pool and
Horncastle
UW NFM, Buckminster and
Hykeham
WQ Water Quality
WT NFM, Millstream and
Smeeton
_Total_
**Unrestricted funds:**
**General funds**
**Designated funds:**
UW Saltersford Mill
EN Events and Water
Stewardship
LB Rauceby Estate||||||
||||(37,258)|||
||||(100,143)|||
||||(9,717)|||
||||(49,285)|||
||||(51,492)|||
||||(55,096)|||
||||(5,700)|||
||||(44,805)|||
||||(353,496)
(23,223)
(1,994)
(7,280)
(5,732)
(7,986)
(22,992)
(399,711)|||
||||||66,341|
||||||185,810
-
-
(1,820)
(7,220)|
|WT Spalding Heritage,
Rockingham and Smeeton||||||
|_Total_
**Total funds**|||||(9,040)|
|||||||
||||||243,111|
Purposes and restrictions in relation to the funds:
Restricted funds:
EN CABA Witham, Welland, The catchment hosting payments for the Witham and Welland are Snagging and Volunteers awarded on an annual basis and support project development work.
Page 21
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
|**T MERCIA RIVERS TRUST**
**es to the Accounts**|**T MERCIA RIVERS TRUST**
**es to the Accounts**|||||
|---|---|---|---|---|---|
|IN Himalayan Balsam and||Mostly funded by the Environment Agency with contribution from Canal||||
|Floating Pennywort||and River Trust. Each year EMRT works with RiverCare volunteers and||||
|||expert contractors reducing these invasives on the catchments. All funding||||
|||agreements are based on an annual basis.||||
|EN Schools and River||Heritage Lottery Funding was secured for the|||Rivers Academy which is a|
|Academy||concept in development based at Belton House. EMRT, on request, also||||
|||attends schools and events such as Lincolnshire Show to build community||||
|||engagement. Water stewardship work is in development and funded||||
|||through the catchment hosting||payments. The catchment hosting||
|||payments for|the Witham and Welland are awarded on an annual basis|||
|||and support project development work.||||
|LB Branston, Dunston and||A key focus for the Witham catchment, the Heritage Lottery funded||||
|Limestone|Becks|Branston Beck restoration works were completed this year and the||||
|||Environment Agency funded development of several projects across all the||||
|||becks and enhancement works||funded by Anglian Water Flourishing||
|||Environment Fund are planned||for Dunston beck in autumn 2023.||
|LN LW Brayford Pool and||Extension of floating ecosystems on Brayford|||Pool in Lincoln. Funded by|
|Horncastle||the Environment Agency.||||
|UW NFM, Buckminster and||Preparatory work was undertaken for major restoration works planned for||||
|Hykeham||Autumn 2023|on Buckminster Estates, scoping of potential Natural Flood|||
|||Management|activities. Completion of the installation of fish refuges at|||
|||Hykeham.||||
|WQ Water Quality||Water quality|monitoring work|is ongoing through a national Earthwatch||
|||programme and was boosted with a donation from the Environment||||
|||Agency this year to purchase an advanced technical kit. The catchment||||
|||hosting payments for the Witham and Welland are awarded on an annual||||
|||basis and support project development work.||||
|WT NFM, Millstream||Initially started with support work for Welland Rivers Trust prior to closure.||||
|and Smeeton||Later included restoration work on Stamford Millstream, funded by the||||
|||Environment Agency and Stamford Town Council, preparatory work for||||
|||major restoration at Smeeton Westerby, funded by Anglian Water and||||
|||Natural Flood|Management scoping above Market Harborough funded by|||
|||the Environment Agency. Landowners engaged EMRT to support||||
|||preparatory work for a major restoration planned for the Langton Brook –||||
|||Welland confluence. Whilst preparatory work was undertaken for Spalding||||
|||Reconnected and Rockingham Forest projects, using funding provided||||
|||through the catchment partnership funds, the projects will commence in||||
|||23/24 FY.||||
|Designated funds:||||||
|UW Saltersford Mill||Designs were|commissioned for Saltersford Mill, however due to major|||
|||construction works around Grantham making|||access impossible, this|
|||project has been shelved for now.||||
|EN Events|and Water|Funded through unrestricted donations and CaBA hosting funds.||||
|Stewardship||||||
Page 22
**EAST MERCIA RIVERS TRUST Notes to the Accounts**
LB Rauceby Estate
Funded by landowners with equipment provided by the Environment Agency.
WT Spalding Heritage, Langton Brook funded by landowners, CaBA hosting funds provided the Rockingham and Langton resources to develop Spalding Heritage and Rockingham projects
## 16 **Analysis of net assets between funds**
|16 **Analysis of net assets between funds**||||
|---|---|---|---|
|Fixed assets
Net current assets
17 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**Unrestricted**
**funds**
**£**
824
175,946
176,770
**At 1 April**
**2022**
**£**|**Restricted**
**funds**
**£**
-
66,341
66,341
**Cash flows**
**£**|**Total**
**£**
824
242,287|
||||243,111|
||||**At 31**
**March**
**2023**
**£**|
||231,184|(86,094)|145,090|
||231,184
231,184|(86,094)
(86,094)|145,090|
||||145,090|
## 18 **Related party disclosures**
## _**Controlling party**_
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 23
**EAST MERCIA RIVERS TRUST Detailed Statement of Financial Activities**
## **for the year ended 31 March 2023**
|**Income and endowments from:**
Donations and legacies
Donations
Grants
Other trading activities
Consultancy and Speaking
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Wages
Costs of other trading activities
**Total of expenditure on raising**
**funds**
Charitable activities
Wages
Professional fees
Habitat Contractors
Governance costs
Accountancy
**Total of expenditure on charitable**
**activities**
Employee costs
Staff training
Motor and travel costs
Travel and subsistence
Premises costs
Rent|**Unrestricte**
**d funds**
**2023**
**£**
22,267
48,969
71,236
5,046
5,046
76,282
-
1,185
-
-
1,185
22,404
206
-
22,610
2,119
2,119
24,729
1,395
1,395
6,481
6,481
1,045
1,045|**Restricted**
**funds**
**2023**
**£**
-
369,059
369,059
-
-
369,059
-
-
-
-
-
119,112
11,656
222,728
353,496
-
-
353,496
-
-
-
-
-
-|**Total funds**
**2023**
**£**
22,267
418,028
440,295
5,046
5,046
445,341
-
1,185
-
-
1,185
141,516
11,862
222,728
376,106
2,119
2,119
378,225
1,395
1,395
6,481
6,481
1,045
1,045|**Total funds**
**2022**
**£**
11,585
394,812|
|---|---|---|---|---|
|||||406,397|
|||||5,314|
|||||5,314|
|||||411,711
5,566|
|||||11,789|
|||||-|
|||||-|
|||||11,789
93,266
4,794
429,030|
|||||527,090|
|||||2,340|
|||||2,340|
|||||529,430
-|
|||||-|
|||||4,870|
|||||4,870|
|||||-|
|||||-|
Page 24
## **EAST MERCIA RIVERS TRUST Detailed Statement of Financial Activities**
|General administrative costs,
including depreciation and
amortisation
Depreciation of Plant and
equipment
General insurances
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Other legal and professional
costs
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income/(expenditure)**
Transfers between funds
**Net income/(expenditure) before**
**other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|494
3,584
136
2,107
619
1,234
2,222
435
10,831
549
549
20,301
46,215
-
30,067
(6,317)
23,750
-
23,750
153,020
176,770|-
-
-
-
-
-
-
-
-
-
-
-
353,496
-
15,563
6,317
21,880
-
21,880
44,461
66,341|494
3,584
136
2,107
619
1,234
2,222
435
10,831
549
549
20,301
399,711
-
45,630
-
45,630
-
45,630
197,481
243,111|506
1,593
-
1,299
394
-
892
319|
|---|---|---|---|---|
|||||5,003|
|||||-|
|||||-|
||||||
|||||9,873|
|||||551,092
-|
|||||(139,381)
-|
|||||(139,381)
-|
|||||(139,381)|
|||||336,862|
|||||197,481|
Page 25