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← East Mercia Rivers Trust

2025-03-31-accounts

Charity registration number 1157922

Company registration number 08613863 (England and Wales)

EAST MERCIA RIVERS TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

EAST MERCIA RIVERS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr. Martin Ballard
Mr Andrew Morriss
Mr. James Birch
Mr. Matthew Bills
Ms. Rachel Dyson
Mr. Benjamin Shrive (Appointed 23 January 2025)
Mr. John Leventhall
Senior management R Butler Chief executive officer
Charity number 1157922
Company number 08613863
Registered office 22 St. Peter's Street
Stamford
Lincolnshire
PE9 2PF
Independent examiner TC Group
22 St. Peter's Street
Stamford
Lincolnshire
PE9 2PF

EAST MERCIA RIVERS TRUST

CONTENTS

Page
Chairman's statement 1
Trustees Report report 2 - 6
Independent examiner's report 7
Statement of financial activities 8 - 9
Balance sheet 11 - 12
Notes to the financial statements 13 - 27

EAST MERCIA RIVERS TRUST

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

The external environment for the East Mercia Rivers Trust (EMRT) in 2024/25 is marked by policy uncertainty, tightening public funding, and rising expectations for measurable environmental outcomes. Improving evidence on the state of our rivers highlights both the scale of challenge and the urgency of response.

The year ahead will be pivotal in shaping how local catchment delivery aligns with national priorities and the new governance arrangements emerging from the Independent Water Commission chaired by Sir Jon Cunliffe (the Cunliffe Review ). Launched in October 2024, the review will examine the future structure of Defra’s delivery bodies, with potential implications for funding, partnerships, and accountability. Its recommendations are expected to have a major influence across the water and environmental sectors. The Rivers Trust nationally is leading engagement with government, and EMRT will ensure regional representation of this evolving policy landscape.

Following successful Spring Summits, our Welland and Witham Catchment Partnerships remain vital for collaboration as we navigate geopolitical, regulatory, and climatic change. While traditional Environment Agency funding continues to contract, new opportunities in green finance, including biodiversity net gain (BNG), carbon, and nutrient markets are developing but remain uncertain. EMRT continues to contribute to Local Nature Recovery Strategies (LNRS), shaping future funding priorities and delivery frameworks.

Public scrutiny of sewage discharges, urban and highways runoff, and water quality has intensified demand for credible delivery partners and transparent data. EMRT is responding by strengthening its monitoring and evidence base through a new dedicated officer role commencing April 2025.

Climate extremes are increasing pressure on rivers and riparian habitats, compounded by land-use competition and ongoing uncertainty around Defra’s sustainable farming schemes. Despite this, farmer willingness to engage remains strong, and EMRT will continue to facilitate these partnerships.

To ensure resilience beyond 2025, EMRT will continue to diversify income sources and reinforce its role as a trusted intermediary between regulators, landowners, and investors. Climate adaptation, natural capital, and community engagement will continue to underpin all programmes.

The Board remains focused on organisational development, reviewing EMRT’s competencies and composition to ensure efficiency and strategic strength. During the year, one founding Trustee stepped down, and we welcomed a new member from the international IT and corporate sector. EMRT remains committed to sustaining its purpose and expanding the support it provides to its growing team of passionate professionals.

Martin Ballard Chair

Date: 05 November 2025

EAST MERCIA RIVERS TRUST

TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report and financial statements for the year ended 31 March 2025. The Annual Report serves the purposes of both a Trustees’ report and a directors’ report.

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 governing document, 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 1 January 2019).

Objectives and activities Mission

Bringing rivers back to life for nature and communities.

The headline KPI achievements for the aims are identified below.

Aim 1: Resilient Rivers Achievements 2024 - 2025
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.
·
Kibworth & Smeeton Nature Project river restoration
completed following delays caused by Storm Babet
·
Spalding Reconnected urban enhancement project
completed with floating ecosystems and coir rolls
·
Thunker Beck NFM delivered to support flood alleviation
and increased biodiversity & further feasibility studies
commissioned for further restoration
·
NFM scoping on the Upper Welland completed
·
NFM monitoring and project development for Field Beck,
Sleaford completed
·
Main funding sources
·
Anglian Water
·
Local Authorities
·
Environment Agency

EAST MERCIA RIVERS TRUST

TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Aim 2: Rivers for Life Achievements 2024 - 2025
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.


·
961 adults & 689 children along with 143 vols attended
various work parties & events
·
Including 160 children, 8 adults & 2 volunteers attending
Rivers Academy Sessions
·
Earthwatch, Riverfly & Anglian Water Get River Positive
water quality monitoring continues.
·
Greater links with mental health charities and voluntary
groups has been forged across the chalk streams.
·
Proposal to create a Natural History Hub in Horncastle has
begun with key partners; Sir Joseph Banks Society,
Lincolnshire Wildlife Trust and Greater Lincolnshire Nature
Partnership attracting support from local authorities and
other environmental education providers.
Aim 3: Building Collaboration Achievements 2024 - 2025
To
advocate
the
catchment-based
approach by facilitating the Welland
Valley
and
Witham
Catchment
Partnerships.


·
Two successful Summits delivered for the Witham and
Welland partnerships with a focus on citizen science and
volunteering with an aim to accelerate and increase
coordination across the catchments.
Aim 4: Creating Security Achievements 2024 - 2025
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.
·
Number of all multi-year projects increased.
·
Staff training budget remains high.
·
Strong social media presence with regular posts in
Facebook, LinkedIn and Instagram.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

EAST MERCIA RIVERS TRUST

TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Significant activities and achievements against objectives Programme Activities Update

There are over 120 watercourses within the Welland and Witham catchments, EMRT is operational in five counties: Lincolnshire, Leicestershire, Northamptonshire, Cambridgeshire, and Rutland.

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 inchannel installations such as berms.

1. Upper Witham

The Upper Witham is an important limestone watercourse forming the headwaters of the Witham catchment. Development of a landscape recovery bid is underway to link the many restoration sites and aim to recharge the limestone aquifer.

Following the success of Horncastle and previous greening in Brayford Pool, stakeholder engagement is ongoing to develop wider urban greening and engagement projects in both Lincoln and Sleaford, with Grantham on hold due to recent flooding.

2. Limestone Becks

On-going partnership with the Environment Agency and Wild Trout Trust was extended to include Lincolnshire Wildlife Trust. An Expression of Interest to National Lottery Heritage Fund for accelerating engagement and restoration efforts across the Becks and Fens with support provided by the Environment Agency and Anglian Water for the preparatory work.

3. Chalk Streams

Anglian Water Get River Positive and UK Shared Prosperity Fund has continued to support community engagement and river restoration measures centred on Horncastle, which sits on the confluence of two chalk streams and a town that has experienced catastrophic flooding.

4. Upper Welland

The Environment Agency and Anglian Water has supported the preparatory work for the development of a landscape level Welland Vision programme, involving multiple partners and sites around Harborough and Great Bowden.

5. Lower Welland

Installed floating ecosystems and coir rolls in Spalding town have enhanced a canalised section of the River Welland, as part of a wider National Lottery funded programme aimed at improving the town’s natural heritage and visitor experience.

6. Invasives

Nationally, Environment Agency funding has been withdrawn for some invasives activities which has led to the cessation of pennywort treatment. Other funding and collaborative working are now being considered with partners to address invasives at scale.

EAST MERCIA RIVERS TRUST

TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Rivers for life

The programme’s core activities focus on education, skills development, volunteering, and citizen science.

  1. Rivers Academy Working in partnership with Nene Rivers Trust education team and Lincolnshire Outdoor Learning (for KS4+), repeat and new bookings are being taken for field visits at Belton and further afield in both catchments. Funding is being sought as part of the developing Natural History Hub to enable the employment of a dedicated officer to further develop the Rivers Academy.

2. Volunteer Activities

Volunteering remains central to project delivery, most recently through the Horncastle and Limestone Becks projects, which have offered training in invasive species management and invertebrate monitoring. Refresher and taster sessions on invertebrate sampling at Sudbrooke and Market Harborough attracted 15 volunteers.

Established EMRT volunteer groups continue to monitor river health through Freshwater Watch and invertebrate surveys around Grantham, Lincoln, and Market Harborough, with a new group forming in Long Bennington.

The Citizen Science Vision is progressing, bringing together survey techniques to monitor river health across catchments, with the first sub-catchment trial planned for the Upper Welland. Through EMRT’s collaboration with the national the Catchment Systems Thinking Cooperative (CaSTCo) project, volunteers have contributed to validation trials shared with catchment partners.

Multi-year funding is being sought to secure equipment, reagents, and a dedicated volunteer coordinator to further support this growing network of Citizen Scientists.

Financial review

Reserves policy

EMRT maintains a minimum of one year’s reserves (unrestricted funds) that are freely available to spend on the charity's purposes.

Structure, governance and management

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 Chief Executive Officer with support provided by a Risk and Governance Committee made up of three members of the Board. EMRT remains part of the national Rivers Trust movement, which is growing and to date has around 70 member trusts.

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:

Mr. Martin Ballard Mr Andrew Morriss Mr. James Birch Mr. Matthew Bills Ms. Rachel Dyson Mr. Benjamin Shrive (Appointed 23 January 2025) Mr. John Leventhall Mr. Jon Bolland (Resigned 31 December 2024)

EAST MERCIA RIVERS TRUST

TRUSTEES REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Recruitment and appointment of trustees

The recruitment of Trustees is by invite 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 training and induction provided for new Trustees will depend on their existing experience. Where necessary, induction will be on an informal basis and tailored specially to the individual. Newly appointed Trustees receive a letter of appointment and a copy of EMRT’s Trustee Manual and Policy Manual.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees report report was approved by the Board of Trustees.

Mr. Martin Ballard Trustee

05 November 2025

EAST MERCIA RIVERS TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF EAST MERCIA RIVERS TRUST

I report to the Trustees on my examination of the financial statements of East Mercia Rivers Trust (the Charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the Trustees of the Charity (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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

TC Group

K Howitt FCCA

22 St. Peter's Street Stamford Lincolnshire PE9 2PF

Dated: 31 October 2025

EAST MERCIA RIVERS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
5,767
-
Charitable activities
EN CABA Witham,
Welland, Snagging and
Volunteers
4
-
30,000
IN Invasives
4
-
10,000
EN Schools and Rivers
Academy
4
-
106,300
LB Limestone Becks
4
-
170,385
LW Lower Witham and
Chalk Streams
4
-
416,225
UW Upper Witham
4
-
5,000
WT Upper and Lower
Welland
4
-
221,838
Other trading activities
5
-
-
Total income
5,767
959,748
Expenditure on:
Raising funds
6
149
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
5,767
180,560
-
30,000
-
30,000
10,000
-
68,000
106,300
-
25,000
170,385
-
33,576
416,225
-
203,395
5,000
-
272,000
221,838
-
156,750
-
3,029
-
965,515
183,589
788,721
149
1,878
-		 Total
2024
£
180,560
-
30,000
68,000
25,000
33,576
203,395
272,000
156,750
3,029
972,310
1,878

EAST MERCIA RIVERS TRUST

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Charitable activities
EN CABA Witham,
Welland, Snagging and
Volunteers
7
-
28,792
IN Invasives
7
-
22,083
EN Schools and Rivers
Academy
7
-
81,755
LB Limestone Becks
7
-
189,309
LW Lower Witham and
Chalk Streams
7
-
358,844
UW Upper Witham
7
-
5,358
WT Upper and Lower
Welland
7
-
216,089
Total charitable
expenditure
-
902,230
Core Support Costs
23,376
-
Governance Costs
12
8,750
-
Total expenditure
32,275
902,230
Net income/(expenditure)
(26,508)
57,518
Transfers between
funds
2,040
(2,040)
Net movement in
funds
9
(24,468)
55,478
Reconciliation of funds:
Fund balances at 1 April 2024
331,761
119,570
Fund balances at 31 March
2025
307,293
175,048		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
28,792
-
35,710
22,083
-
57,519
81,755
-
30,735
189,309
-
26,044
358,844
-
127,531
5,358
-
264,851
216,089
-
166,248
902,230
-
708,638
23,376
46,691
-
8,750
6,883
-
934,505
55,452
708,638
31,010
128,137
80,083
-
26,854
(26,854)
31,010
154,991
53,229
451,331
176,770
66,341
482,341
331,761
119,570		 Total
2024
£
35,710
57,519
30,735
26,044
127,531
264,851
166,248
708,638
46,691
6,883
764,090
208,220
-
208,220
243,111
451,331

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

EAST MERCIA RIVERS TRUST

SUMMARY INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

All income funds
2025
£
Gross income
965,515
Total expenditure from income funds
934,505
Net income for the year
31,010		 2024
£
972,310
764,090
208,220

EAST MERCIA RIVERS TRUST

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
Taxation and social security
Other creditors
16
Deferred income
17
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the Charity
Restricted income funds
19
Unrestricted funds		 2025
£
41,160
543,697
584,857
5,791
36,627
60,950
103,368		 £
852
481,489
482,341
482,341
175,048
307,293
482,341		 2024
£
330,281
155,310
485,591
5,091
30,819
-
35,910		 £
1,650
449,681
451,331
451,331
119,570
331,761
451,331

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

EAST MERCIA RIVERS TRUST

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements were approved by the Trustees on 05 November 2025

Mr. Martin Ballard

Trustee

Company registration number 08613863 (England and Wales)

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

East Mercia Rivers Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 22 St. Peter's Street, Stamford, Lincolnshire, PE9 2PF.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

EAST MERCIA RIVERS TRUST

FOR THE YEAR ENDED 31 MARCH 2025

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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 are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment

33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FOR THE YEAR ENDED 31 MARCH 2025

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 767 150,021
Grants 5,000 30,539
5,767 180,560

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

4 Income from charitable activities

Restricted Restricted
funds funds
2025 2024
£ £
EN CABA Witham, Welland, Snagging and Volunteers
Donations 30,000 30,000
IN Invasives
Grants - 58,000
Donations 10,000 10,000
EN Schools and Rivers Academy
Grants 70,500 -
Donations 35,800 25,000
LB Limestone Becks
Grants 170,360 33,576
Donations 25 -
LW Lower Witham and Chalk Streams
Grants 415,772 203,395
Donations 453 -
UW Upper Witham
Grants 5,000 272,000
WT Upper and Lower Welland
Grants 150,719 156,750
Donations 71,119 -
959,748 788,721
5 Income from other trading activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Trading activity income: other - 3,029

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Seeking donations, grants and legacies 149 1,878

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities

EN CABA
Witham,
Welland,
Snagging
and
Volunteers
IN Invasives
EN Schools
and Rivers
Academy
LB
Limestone
Becks
LW Lower
Witham and
Chalk
Streams
UW Upper
Witham
WT Upper
and Lower
Welland
2025
2025
2025
2025
2025
2025
2025
£
£
£
£
£
£
£
Direct costs
Staff costs
25,145
-
52,690
53,365
118,184
-
58,846
Habitat contractors and equipment
245
22,050
23,220
133,377
222,701
4,797
153,496
Professional Fees
-
-
525
48
3,636
-
1,891
Expenses
3,402
33
5,320
2,519
14,323
561
1,856
28,792
22,083
81,755
189,309
358,844
5,358
216,089
Analysis by fund
Restricted funds
28,792
22,083
81,755
189,309
358,844
5,358
216,089		 Total
2025
£
308,230
559,886
6,100
28,014
902,230
902,230

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities (Continued)
Previous year: EN CABA IN Invasives EN Schools LB
LW Lower		 UW Upper WT Upper Total
Witham, and Rivers Limestone
Witham and		 Witham and Lower
Welland, Academy Becks Chalk Welland
Snagging Streams
and
Volunteers
2024 2024 2024 2024 2024 2024 2024 2024
£ £ £ £ £ £ £ £
Direct costs
Staff costs 31,466 6,459 24,536 2,986 50,101 34,257 62,970 212,775
Habitat contractors and equipment 2,327 51,060 2,704 21,340 73,416 227,368 99,204 477,419
Professional Fees 426 - 3,049 500 2,198 3,037 2,560 11,770
Expenses 1,491 - 446 1,218 1,816 189 1,514 6,674
35,710 57,519 30,735 26,044 127,531 264,851 166,248 708,638
Analysis by fund
Restricted funds 35,710 57,519 30,735 26,044 127,531 264,851 166,248 708,638

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Support costs allocated to activities

Core Support
Costs
2025
£
Staff costs
836
Depreciation
798
Staff recruitment, training and welfare
3,038
Travel and subsistence
5,124
Printing, postage and stationery
395
Software, IT support and related costs
2,178
Subscriptions
2,836
Telephone
2,351
Sundry
2,475
Accountancy and bookkeeping
2,357
Legal and professional
540
Rent
448
Governance
8,750
9
Net movement in funds
2025
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
798		 Total
2024
£
23,146
577
5,672
4,774
465
3,435
2,080
999
3,270
655
598
1,020
6,883
2024
£
577

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

11 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
9 7

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

11 Employees (Continued)
Employment costs 2025 2024
£ £
Wages and salaries 309,066 235,921
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 149,107 123,794
12 Governance Costs
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Independent examination and insurance costs 8,750 6,883

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Tangible fixed assets

Cost
At 1 April 2024
At 31 March 2025
Depreciation and impairment
At 1 April 2024
Depreciation charged in the year
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
15
Debtors
Amounts falling due within one year:
Other debtors
16
Other creditors falling due within one year
Other creditors
Accruals and deferred income
17
Deferred income
Other deferred income		 2025
£
41,160
2025
£
35,157
1,470
36,627
2025
£
60,950		 Plant and
equipment
£
3,185
3,185
1,535
798
2,333
852
1,650
2024
£
330,281
2024
£
29,373
1,446
30,819
2024
£
-

Deferred income is included in the financial statements as follows:

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Deferred income
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2024
Resources deferred in the year
Deferred income at 31 March 2025		 (Continued)
2025
2024
£
£
60,950
-
-
-
60,950
-
60,950
-		 (Continued)
2025
2024
£
£
60,950
-
-
-
60,950
-
60,950
-
-
-
-

17 Deferred income

18 Retirement benefit schemes

Defined contribution schemes

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

At the year end there were unpaid contributions due to the fund of £2,019 (2024: £1,585).

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2024 Incoming Resources Transfers At 31 March
resources expended 2025
£ £ £ £ £
- - - - -
EN CABA Witham, Welland,
Snagging and Volunteers - 30,000 (28,792) (1,208) -
IN Invasives 10,481 10,000 (22,083) 1,602 -
EN Schools and Rivers Academy 1,940 106,300 (81,755) 1,085 27,570
LB Limestone Becks 16,429 170,385 (189,309) 2,495 -
LW Lower Witham and Chalk
Streams 74,184 416,225 (358,844) (12,760) 118,805
UW Upper Witham - 5,000 (5,358) 358 -
WT Upper and Lower Welland 16,536 221,838 (216,089) 6,387 28,672
119,570 959,748 (902,230) (2,040) 175,048

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

19 Restricted funds (Continued)
Previous year: At 1 April 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
EN CABA Witham, Welland,
Snagging and Volunteers - 30,000 (35,710) 5,710 -
IN Himalayan Balsam and
Floating Pennywort - 68,000 (57,519) - 10,481
EN Schools and River Academy 7,675 25,000 (30,735) - 1,940
LB Limestone Becks 33,149 33,576 (26,044) (24,252) 16,429
LW Horncastle and Chapel Hill (784) 203,395 (127,531) (896) 74,184
UW Upper Witham and Natural
Flood Management 144 272,000 (264,851) (7,293) -
WT Upper and Lower Welland 26,157 156,750 (166,248) (123) 16,536
66,341 788,721 (708,638) (26,854) 119,570

FOR THE YEAR ENDED 31 MARCH 2025

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

19 Restricted funds

(Continued)

EN CABA Witham, Welland, Snagging and Volunteers

The catchment hosting payments for the Witham and Welland are awarded by the Environment Agency on an annual basis and support project development work. Snagging is provided by the Environment Agency for restoration remedial works. Funding for volunteers and citizen science is from various sources and built into project delivery.

IN Invasives

Funding for invasives is limited to a few donors and at present much of the funding from the Environment Agency has faced budget cuts. Activity has centred on volunteer activities for this financial year.

EN Schools and Rivers Academy

The Rivers Academy was supported by Anglian Water and UK Shared Prosperity Funding via South Kesteven District Council. EMRT also focused on developing partnerships to build a platform for accelerating education and training across the catchments.

LB Limestone Becks

Funding provided by Anglian Water has progressed numerous projects and supported the development of a National Lottery Heritage Fund for the ‘Spring into Fen’ programme. The national Environment Agency NFM programme contributed to the development of a restoration project on a tributary to the River Slea.

LW Lower Witham and Chalk Streams

Anglian Water Get River Positive programme and UKSPF via East Lindsey District Council continued to support restoration and community engagement in and around Horncastle.

UW Upper Witham

Supported mainly by CaBA funding, the work centred on developing a landscape recovery approach for the Upper Witham, a key limestone river habitat forming the headwaters of the River Witham.

WT Upper and Lower Welland

Multiple funding sources supported the completion of a major restoration on Langton Brook in the Upper Welland, including IFM Investors, Anglian Water, the Environment Agency, and Harborough District Council (via Section 106 contributions). In the Lower Welland, National Lottery Heritage Fund support was secured as part of a wider programme to enhance Spalding town centre, delivering small-scale river habitat improvements within the town.

EAST MERCIA RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2024 At 1 April 2024 Incoming Resources Transfers At 31 March
resources expended 2025
£ £ £ £ £
General funds 331,761 5,767 (32,275) 2,040 307,293
Previous year: At 1 April 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
General funds 176,770 183,589 (55,452) 26,854 331,761
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Tangible assets 852 - 852
Current assets/(liabilities) 306,441 175,048 481,489
307,293 175,048 482,341
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 1,650 - 1,650
Current assets/(liabilities) 330,111 119,570 449,681
331,761 119,570 451,331

21 Analysis of net assets between funds

22 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).