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2023-03-31-accounts

Charity registration number 1161219

Company registration number 09300481 (England and Wales)

13 RIVERS TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13 RIVERS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Monsur Ahmed Rupina Begum Abul Mahmud Azafar Miah

Charity number 1161219 Company number 09300481 Registered office Tarling East Community Centre 63 Martha Street London E1 2PA Auditor AGP Consulting Q West Great West Road Brentford TW8 0GP

13 RIVERS TRUST

CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 22

13 RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

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 trust's Memorandum and Articles, 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).

Backrground and Mission Statement

The name of our charity derives from Bengali folklore. The first generation of Bangladeshi people often expressed ‘crossing seven oceans and thirteen rivers’ to reach the UK. Their descendants today have chosen the name of the charity after this expression as a way of honouring their sacrifice. Our motivation is to preserve the positive legacies of our parents and of generations gone by

13 Rivers Trust is an energetic and dynamic charity which focuses its work around disadvantaged individuals, young people and communities left behind by mainstream society. 13 Rivers Trust celebrate the contribution made by our elders and emulate their good practice of helping others and create new opportunities through which hope will be given.

The provisions of the Trust are delivered by local people who have grown up within the communities 13 Rivers Trust operates in. The Trust is responsive to the needs of these communities and is at the same time shaped by them.

The trust's objects and the policies adopted in furtherance of these objects are stated below and there has been no change in these during the year.

Our work

Eden Care UK

To improve the quality of care for older people who are socially isolated, people who are terminally ill and reaching End of Life.

Muslim Burial Fund

To bury Muslims in need with dignity and in accordance with their wishes and faith.

Sylhet Aid

To deliver aid to the poorest community in the Greater Sylhet region and provide poverty alleviation to those in need.

Rescue Orphans

To support orphans within their communities and keep them safe.

Future Work

Young People

To empower and support young people to advance in life through the provision of recreation and leisure time activities as well as developing their skills, capacities and capabilities.

End Poverty

To relieve the needs of those who are disadvantaged by poverty, ill health, age or other socio-economic factors.

History and Heritage

To preserve the history, culture and heritage of the British Bangladeshi community living in the UK by providing an online museum.

Community Cohesion

To promote knowledge, mutual understanding and respect of the beliefs and practices of different religious faiths.

13 RIVERS TRUST

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

FOR THE YEAR ENDED 31 MARCH 2023

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

The trustees confirm that they have referred to the Charily Commissions' general guidance on Public Benefit when reviewing and shaping the charity's aims and objectives. The charity works to ensure that its programs are inclusive, accessible and responsive to the needs of the beneficiaries.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

Achievements and performance

Eden Care UK

Eden Care UK is BAME led service it was setup to provide support and empower the terminally ill and those reaching End of Life. Eden Care UK also work together with community partners to deliver social and recreational activities for older people and address social isolation. During the year the fund raised £36k (2022 - £63k). The expenditure in this activity from that fund and the general fund was £172k (2022 - £140k) during the year.

At Eden Care we befriended people who are terminally ill and those reaching End of Life. We provide dignity, care and sense of self-worth through friendship. We advocate for quality of care and enhanced life choices. We tackle social isolation for older people through befriending and social activities.

Post Covid-19 this service was extended to support people who are socially isolated. Our befrienders carried out weekly visits and organised social activities. The visits took place in their homes as well in the hospital and day care centre.

We also restarted our Creative Art Session at the Sundial Centre and Sonali Gardens. The classes were delivered on a weekly basis to help reduce anxiety and stress amongst elderly people and help to improve their mental health and well-being. It gave the users a reason to come out of their homes and interact with other members of the community. The art activities helped to improve their co-ordination and manual dexterity. The classes also gave them an opportunity to learn new skills and techniques.

The Sheffield Shukr programme aims to provide high quality holistic support to beat isolation, loneliness with a cultural sensitive approach. Since the end of Covid-19 we delivered weekly sessions every Wednesday from Victoria Stafford Road, Methodist Church in Sheffield. This programme was focused upon engaging elderly people who are terminally ill, suffering from from dementia and their carers in a 6 week programme.

The programme was started at any point following a referral. Sessions included keeping active, saving energy, mindfulness, advanced care planning and spiritual well-being. We organised sessions on nutrition and eating well as well as looking after your medicines and dealing with anxiety and mood.

13 RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Muslim Burial Fund

Muslim Burial Fund offer assistance and support Muslims in need to meet the traditional burial cost and most importantly prevent the possibility of any needy person being cremated. We provide pre-burial and direct burial support including the washing, shrouding, funeral prayer and the actual burial.The charity reached out to its supporters and donors and managed to raise £164k in 2023 (2022 - £241k), which as expected with Covid coming to an end was lower, but the generosity has continued. These funds met the charities objectives of providing a dignified farewell to the less fortunate at their time of death. The costs expended towards this activity during the year was £351k (2022 - £283k) from the above funds and the general funds. The fund managed to provide 55 (2022 -42) burials during the year. On average we supported 4 – 5 burials per month. In addition we continued to offer burial advice and support to families who lost their loved ones through our helpline.

Advocacy

We advocated on behalf of the Muslim deceased so that they are not cremated and buried according to their faith. We meet terminally ill people and those reaching End of Life and support them with their burial plans. For example, where they want to be buried, how their burial should be and how the burial will be financed.

Rapid Response Team

We provided speedy support to people and their families reaching End of Life. Our intervention includes providing advice and guidance as well as practical help with food and transport during their hour of need. A designated group of trained volunteers respond quickly to the needs of people and their families. We visit them in their home, hospital, care homes or hospices.

Legal Burial Support and Will Service

We offered a free legal burial support and Will writing service for Muslim reverts who are vulnerable, worried about not receiving a Muslim burial after their demise; feel they might be buried or cremated against their faith or wishes.

Sylhet Aid

Sylhet Aid was set up to deliver aid to the poorest community in the Greater Sylhet region and provide poverty alleviation to those in need. This is an ongoing fund and the Trust managed to raise £78k (2022 - £45k), which was a substantial size increase compared with its previous performance. These funds were expended on the ground in Sylhet to provide food, water, medicine, marriage, shelter, sanitation and winter aid. . The amount expended on the project our of these funds and general funds during the year was £341k (2022 - £266k).

Our Emergency Aid initiative supported people in rural poverty with 25 medical cases, 14 housing improvements, 5 livelihood projects, 24 installation of water hand pumps and supporting 45 couples with getting married. We received requests for help via our Bangladesh Team and create crowd funding appeals via our website and Muslim Giving platform.

Our Winter Aid initiative in December 2022 enabled volunteers to deliver aid first hand, we distributed 3,000 blankets, 66 sewing machines and 12 wheelchairs.

For most of us Ramadan is an exciting and treasured month however for the 3.3 million Bangladeshi's living in extreme poverty Ramadan is a stressful and trying time. Families trapped in a vicious cycle of poverty do not have food to eat on a daily basis. This Ramadan thanks to generous donations we distributed 1,200 x £30 food packs to various distributions points.

13 RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Bangladesh Flood Appeal 2022

In May 2022 people in Sylhet, Bangladesh were affected by monsoon floods from heavy and persistent rainfall which forced thousands of people to abandon their homes. The downpours caused extensive damage to houses, water sources, food stores, farm land and roads. The Sylhet region suffered its worst flooding in nearly 100 years.

We mobilised our Sylhet Aid team and provided emergency support as the crisis unfolded in front of our eyes. This included 625 £30 food packs, 24 boats to families stranded by floods. As the situation deteriorated, we provided a second wave of support in June 2022 to feed people who lost their homes and had no access to cooking food. This time around we focused upon supplying 625 dry food packs and feeding people living in shelters with 5,300 cooked meals.

During the month of July we started commencing our Wave 3 support. We made the decision to change from £30 food packs to £15 food packs due to the sheer number people requesting our help and support. As part of Wave 3 support, we sent across 1,200 food packs and 20 boats for essential travel. We also distributed 214 female hygiene and dignity packs and provided an additional 11,820 cooked meals.

Rescue Orphans

We support orphans within their communities and keep them safe. Initially we started Rescue Orphans in 2018. We sponsored 3 orphans in Bangladesh. Over the last 4 years this has increased to 185 orphan children in 2022 being sponsored in the Greater Sylhet Region. Orphan sponsors pay £25 per month which provides daily food, clothing, medical cost, education for orphans and annual Eid gifts. If the children are in need of a home we build safe and warm house through our Orphan Home Project. In 2022 we have successfully helped with building 20 Orphan Homes and 20 Livelihood programmes. During the year fund raising activities raised £113k (2022 - £63k). The expenditure on this project for the year from these funds and the general fund was £276k (2022 - £240k).

With support from sponsors, orphans learn how to support themselves and generate their own income, equipping them with practical knowledge and trade skills that are essential for their survival in later life. We have given some orphans livestock to rear such as chickens and cows, which can later be sold with profit. For one family with two young orphaned boys, we are building a smaller room attached to their new orphan home which will be a small shop. The mother will sell small items to support her young family.

In addition to the above the general level of donations achieved expectations with £720k raised during the year compared to £613k in the previous year. In addition fundraising activities within Charitable activities raised £485k compared to £411k in the previous year. Overall the Trust has seen a comparable level income due to continuing generosity of the community. In this respect the Trustees consider the fundraising objectives to have been met.

Investment Performance

As at 31 March 2022, the Charities investments were held for cash flow and general expenditure and future capital investment. and as such the funds were held in a current account with only a nominal interest paid.

This was in line with the Charity's current investment plans.

Plans for 2023

The surplus of funds will be utilised to carry out further burial activities and in addition the Trustees will consider which aspects of the Charities activities can be extended through the availability of surplus funds. No specific decision had been taken at the date of approval of the financial statements.

13 RIVERS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

There was a surplus in fund position of £745k (2022 - £673k) at the year end. The operating surplus for the year was £72k (2022 - £111k). This is the total of the amount on the SOFA. The continued operating surplus is the result of the additional income generated due to the various campaigns. The related expenditure was not matched comparatively which has led to a surplus in funds by that magnitude. This was substantially increased because of Covid 19 pandemic and the general awareness in the donors’ attitude towards the need to help those less fortunate, in the previous year. During the current year though positive and sustaining previous levels, the charity also put the funds to use and has not retained as much surplus in the previous year.

Due to the nature of the charity complying with Islamic investment principles there is no set investment strategy. In the previous year, a surplus of that level was not anticipated but it was an area the trustees looked into and funds were utilised and expenditure was more in line with funds raised.

Reserves policy

The Trustees believe that it is essential that the Trust maintains sufficient reserves to allow it to continue its work through difficult economic times, to allow flexibility for cash flow requirements in respect of committed programs, as well as providing resources in the event of any significant and unexpected expenditure. The net assets of the 13 Rivers Trust as at 31 March 2023 amounted to £745k (2022 - £673k)

The Trustees have set a target of six months' expenditure as a prudent level of reserves. Our current level of reserves is sufficiently ahead of that target. Free reserves as at 31 March 2023 amounted to £745k (2022 - £673k) which are available to fund ongoing operations.

The charity received donations & grants totaling £720,442 (2022 - £613,259) and income from Charitable Activities of £485,201 (2022 - £411,043) during the year. After outgoing expenses of £1,141,099 (2022 - £930,730), the charity was left with a surplus of £744,512 (2022 - £672,634) carried forward for the year.

Investment Policy

As at 31 March 2023, the Charities investments were held for cash flow and general expenditure and future capital investment.

In the past the Charity did not have a sizeable level of deposits and as such investment advice was not required. But with the level of current deposits, the possible requirement to appoint and investment advisor is under consideration by the Trustees.

The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

13 RIVERS TRUST

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

FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

Governing document

The charity is controlled by its governing document, Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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:

Monsur Ahmed

Rupina Begum

Abul Mahmud

Azafar Miah

When new Trustees are required, they are selected based on relevant experience within the sector and other broad professional experiences. The initial selection maybe through community circles or by advertising in suitable publications. They are then selected based on the votes of existing Trustees.

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 company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

Trade creditors of the company at the year end were equivalent to 10 - (2022 - 14) day's purchases, based on the average daily amount invoiced by suppliers during the year.

Auditor

In accordance with the company's articles, a resolution proposing that AGP Consulting be reappointed as auditor of the Charity will be put at a General Meeting.

The trustees' report, was approved by the Board of Trustees.

Azafar Miah Trustee Dated: 21 December 2023

13 RIVERS TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also the directors of 13 Rivers Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

13 RIVERS TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF 13 RIVERS TRUST

Opinion

We have audited the financial statements of 13 Rivers Trust (the ‘trust’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

13 RIVERS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF 13 RIVERS TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the trust for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the financial reporting framework, the Charities Act 2011 and the relevant tax compliance regulations.

In addition, the Charity is subject to many other laws and regulations where the consequences of non- compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: employment law, data protection, health and safety legislation and fundraising regulations. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any.

We understood how the Charity is complying with those frameworks by making enquiries of management, staff and consultants and those responsible for legal and compliance procedures. We corroborated our enquires through our review of minutes and papers provided by the Trustees of the Charity.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognizing that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

13 RIVERS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF 13 RIVERS TRUST

Audit procedures performed by the engagement team included:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Forhad Ahmed (Senior Statutory Auditor) for and on behalf of AGP Consulting

Chartered Accountants

Statutory Auditor

Q West

TW8 0GP

21 December 2023

AGP Consulting is eligible for appointment as auditor of the trust by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

13 RIVERS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Unrestricted
Restricted
funds
funds
funds
2023
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
3
720,442
613,259
-
Charitable activities
4
485,201
408,543
2,500
Investments
5
7,334
63
-
Total income
1,212,977
1,021,865
2,500
Charitable activities
6
1,141,099
911,007
19,723
Net income and movement in funds
71,878
110,858
(17,223)
Reconciliation of funds:
Fund balances at 1 April 2022
672,634
561,776
17,223
Fund balances at 31 March 2023
744,512
672,634
-		 Total
2022
£
613,259
411,043
63
1,024,365
930,730
93,635
578,999
672,634

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

13 RIVERS TRUST

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
11
Investment property
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
The funds of the trust
Unrestricted funds		 2023
£
52,079
422,821
474,900
7,017		 £
9,280
267,349
276,629
467,883
744,512
744,512
744,512		 2022
£
57,674
649,247
706,921
46,661		 £
12,374
-
12,374
660,260
672,634
672,634
672,634

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 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

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 under the requirements of the Companies Act 2006, 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.

The financial statements were approved by the trustees on 21 December 2023

Azafar Miah Trustee

Company registration number 09300481 (England and Wales)

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

13 Rivers Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Tarling East Community Centre, 63 Martha Street, London, E1 2PA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's governing document, 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 trust is a Public Benefit Entity as defined by FRS 102.

The trust 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 trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 trust 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.

1.4 Income

Income is recognised when the trust 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 trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognized on receipt or otherwise if the trust 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.

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 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 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:

Computers 25 % on a reducing balance basis

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 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Impairment of fixed assets

At each reporting end date, the trust 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).

1.9 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.

1.10 Financial instruments

The trust 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 recognized in the trust's balance sheet when the trust 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 recognized amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized 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 amortized.

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 trust’s contractual obligations expire or are discharged or cancelled.

1.11 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 trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the trust’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.

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 716,235 583,051
Government grants 4,207 30,208
720,442 613,259

4 Charitable activities

For the year ended 31 March 2023

Fundraising
events
Sylhet aid
£
£
Fund raising activities
92,953
78,085
Analysis by fund
Unrestricted funds
92,953
78,085
For the year ended 31 March 2022
Fundraising
events
Sylhet aid
£
£
Fund raising activities
49,661
45,321
Analysis by fund
Unrestricted funds
49,661
45,321
Restricted funds
-
-
49,661
45,321		 Rescue
orphans
Eden care
Burial fund
£
£
£
113,801
35,838
164,524
113,801
35,838
164,524
Rescue
orphans
Eden care
Burial fund
£
£
£
11,843
63,228
240,990
11,843
63,228
238,490
-
-
2,500
11,843
63,228
240,990		 Total
£
485,201
485,201
Total
2022
£
411,043
408,543
2,500
411,043

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

5 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Rental income 5,470 -
Interest receivable 1,864 63
7,334 63

6 Charitable activities

Staff costs
Activity costs
Emergency aid distribution
Fundraising donation/costs
Burial costs
Project development
Volunteer expenses
Education, training &
seminars
Share of support costs (see
note 7)
Share of governance costs
(see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 Rescue
Orphans
Sylhet Aid
Eden Care
Muslim
Burial Fund
2023
2023
2023
2023
£
£
£
£
79,080
79,080
79,080
79,080
107,644
175,122
14,820
10,162
-
1,000
-
-
7,712
7,712
7,712
7,712
-
-
-
175,129
17,500
17,500
17,500
17,500
3,995
3,995
3,995
3,995
-
-
-
-
215,931
284,409
123,107
293,578
46,219
42,062
34,737
43,544
14,378
14,378
14,378
14,378
276,528
340,849
172,222
351,500
276,528
340,849
172,222
351,500
-
-
-
-		 Total
2023
£
316,320
307,748
1,000
30,848
175,129
70,000
15,980
-
917,025
166,562
57,512
1,141,099
1,141,099
-		 Total
2022
£
242,560
250,676
24,889
27,936
141,712
54,048
8,936
288
751,045
129,439
50,246
930,730
911,007
19,723

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

(Continued)

For the year ended 31 March 2022

Rescue
Orphans
Sylhet Aid
Eden Care
Muslim
Burial Fund
£
£
£
£
Staff costs
60,640
60,640
60,640
60,640
Activity costs
110,813
125,626
6,185
8,052
Emergency aid distribution
-
15,305
9,584
-
Fundraising donation/costs
6,984
6,984
6,984
6,984
Burial costs
-
-
-
141,712
Project development
13,512
13,512
13,512
13,512
Volunteer expenses
2,234
2,234
2,234
2,234
Education, training & seminars
72
72
72
72
194,255
224,373
99,211
233,206
Share of support costs (see note 7)
33,200
29,744
28,444
38,051
Share of governance costs (see note 7)
12,561
12,561
12,561
12,563
240,016
266,678
140,216
283,820
Analysis by fund
Unrestricted funds
222,793
266,678
140,216
281,320
Restricted funds
17,223
-
-
2,500
240,016
266,678
140,216
283,820		 Total
2022
£
242,560
250,676
24,889
27,936
141,712
54,048
8,936
288
751,045
129,439
50,246
930,730
911,007
19,723
930,730

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

7 Support costs

Depreciation
Advertising and
marketing
Consultancy
Admin costs
Insurance
Postage & stationery
Rent & rates
Telephone & internet
IT Software and
consumables
Bank charges
Audit fees
Legal and professional
Analysed between
Fundraising activities		 Support
costs
Governance
costs
£
£
3,094
-
105,633
-
-
24,900
27,545
-
2,514
-
11,073
-
5,611
-
1,883
-
3,171
-
6,038
-
-
4,800
-
27,812
166,562
57,512
166,562
57,512		 2023Support costs Governance
costs
£
£
£
3,094
4,125
-
105,633
54,987
-
24,900
-
16,430
27,545
42,415
-
2,514
1,582
-
11,073
8,875
-
5,611
7,725
-
1,883
1,828
-
3,171
679
-
6,038
7,223
-
4,800
-
3,600
27,812
-
30,216
224,074
129,439
50,246
224,074
129,439
50,246		 2022
£
4,125
54,987
16,430
42,415
1,582
8,875
7,725
1,828
679
7,223
3,600
30,216
179,685
179,685

Governance costs includes payments to the auditors of £4,800 (2022- £3,600) for audit fees.

8 Trustees

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

9 Employees

The average monthly number of employees during the year was:

Administrative
Employment costs
Wages and salaries
Social security costs		 2023
Number
9
2023
£
274,088
42,232
316,320		 2022
Number
9
2022
£
230,480
12,080
242,560

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9 Employees

(Continued)

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel is as follows £128,884 (2022 - £111,165)

10 Taxation

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

11 Tangible fixed assets

11 Tangible fixed assets
Computers
£
Cost
At 1 April 2022 19,521
At 31 March 2023 19,521
Depreciation and impairment
At 1 April 2022 7,147
Depreciation charged in the year 3,094
At 31 March 2023 10,241
Carrying amount
At 31 March 2023 9,280
At 31 March 2022 12,374
12 Investment property
2023
£
Fair value
At 1 April 2022 -
Additions through external acquisition 267,349
At 31 March 2023 267,349

Investment property comprises two properties. The fair value of the investment property has been arrived at on the basis of acquisition cost in October 2022 and a survey was carried out during the acquisition by valuers, who are not connected with the trust. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. It is considered that the value has not significantly changed from the date of acquisition date till the year end and is reflected below.

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12 Investment property

(Continued)

Freehold
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
14
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income		 2023
£
267,349
2023
£
15,512
36,567
52,079
2023
£
2,817
-
4,200
7,017		 2022
£
-
2022
£
57,674
-
57,674
2022
£
3,852
27,083
15,726
46,661

15 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.

General funds
Previous year:
General funds		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
672,634
1,212,977
(1,141,099)
744,512
At 1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
561,776
1,021,865
(911,007)
672,634

13 RIVERS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).