REGISTERED COMPANY NUMBER: 03345901 (England and W•1081
REGISTERED CHARITY NUMBER: 1162478
SCOrnSH CHARITY MUMBER: SC046354
THE WILD TROUT TRUST LIMITED
TRUSTEES. REPORT AND
AUDITED FINANCIAL STATEMENTS FOR THÉ YEAR ENDED 30 APRIL 2025

THE WILD TROUT TRUST LIM￿ED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Pag•
R•f•r•nc• •nd Admlnl8tratlve Detslls
Trn8teo8' R•port
2 to 6
R•port of th• Ind•pgndent Audltor8
7 to 10
8t•tsm•nt of Flnancl•l Actlvltle8
11
Balanc• Sho•t
12
Ca•h Flow St•tom•nt
13
Notsj to th• Flnanclal Stat•m•nt•
14 to 23
Dot•ll•d Stat•m•nt of Fln•nclal Actlvhl•8
24 to 25

THE WILD TROUT TRUST LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 APRIL 2025
TRUSTEES
Dr G D Colèy (resigned 17 July 2025
S J Franas lappolnled 17 July 20251
W D Fraser Iresign8d 8 July 2024)
A M Harvey
M G Jacobs
D J Lloyd (deceased 10 May 20241
N Lloyd
DrJMManl
Dr G J Mantle MBE
G E S S81igman
C I Watson
COMPANY SECRETARY
D J Marrioll
REGISTERED OFFICE
First Floor, Unil 4 Broadfield Court, Sheffield, South Yorkshire S8 OXF
PRINCIPAL ADDRESS
FREEPOST Wild Troul Trust
REGISTERED COMPANY NUMBER
03345901 (England and Wa￿s)
REGISTERED CHARITY NUMBER
1162478
SCOThI8H CHARITY NUMBER
SC046354
INDEPENDENT AUDITOR8
Hart Shaw LLP, Chartered Accountants
Statutory Auditor, Europa Llnk. Shoffield, South Y¢ykshlre S9 1XU
8ANKERS
The Cowoperallve Bank plc, The Fountaln Pr8clnct, Sheffleld S1 2JZ
Barclays Bank PIG. SHEFFIELO CITY 2, Lelceslershir&, LE87 28B
PRESIDENT
Jon Bèér
VI¢E.PRESIDENTS
Ross Brawn OBE
Stuart Croft8
Brian Clarke
Slr Garelh Edwards C8E
Dennis Mo88
Pal O'Rgilly
Jeremy Paxman
Paul Procler
Charles Rangeley-wllson
Dr Edward Twiddy
Matthew Wrbht
STAFF
Shaun Leonard
David Marriott
Theo Pik
Dr Tim Jacklln
Andy Thomas
Nick Lawr8nr
Sophle EvlngAr
Chrfstina Bryant
Dr Paul G85kell
Professor Jon Grey
Gar8th Pedley
Rob Mungov8n
Edward Noyes
David Oakley
VOLUNTEERS
Patrick Lloyd
Neil Mundy
Page 1

THE WILD TROUT TRUST LIMITED
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2025
The Irust89s who 8rg also dire¢tors of the charity for the purposes of the Companitrs Act 2006, present their
report with the financial ststements of the charity for the year ended 30 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in notes to
the accounts and comply with the charitable company's memorandum and articles. the Charities Act 2011
and A¢¢ounting and Reporting by Charities". Ststemenl of Recommended Pra¢ti¢e applicable to ¢harities
preparing their accoLJnts in accordance with Ihe Financial RerK)rting Standard applicable in the UK and
Republic of Ireland IFRS1021 leffective 1 January 2019).
08JECTIVES AND ACTIVITIES
The charity's objects as sel out in the articles of associakn.on are the atlvancemenl of public education in the
promotion of conservation for the public benefit of wild trout and iheir habitais,. ecosystems and environment-
river and water conservats'on and management and creation of wild trout habitats. Wild trout being defined as
any trout that has been spawned naturally including sea trout.
These objectives are 8chiev8d through the pn)vision of advice and pracb"c81 help lo landowners, fishing clubs
and olher communily groups with an interest in the conseThabon of rivers, lakes and their surrounds. In
addition, ￿T produces a range of educational malerials and regulady coniributes to conferences,
workshops and seminars on aquatic conservation and fisheries managemenl. The direction of the Trust is
ileraled through a five-year strategic plan and annual business plan.
The Iruslees confirm Ihal they have referred lo the guidance in the Charity Commission's 9en8ral guidance
on public bengfit when reviewing the Trust's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
FundraSslng actlvltle$
Fundraising was carried out only by Trust staff working very closely with two volunteers. through an annual
online auction, an annual raffle (with a relurn completed to ihe Gambling Commission) and fundraising
events such as angling days. No professional fundraiser or commer¢ial participator was involved. The
auction operated under openly published lerms, conditions and Privacy Policy.
The Trust is not a member of the Fundraising Regulator but adheres to the principles and practices of the
Code of Fundraising Practice, for example in relatson lo the way we raised and used funds, our accounting
and reporting and how we processed personal information and donations. There were no compliance issues
and no complaints received in connection with any ol the Trust's fvn(Iraising activities. No vulnerable pgople
were involved in the Trust's fundraising aciivth'e$.
A Revlew of Ill￿,5 24125 Year
The Wild Trout Trust Iwrri provides expert techn￿1 advice lo landowners, community groups and
govemmenl agencies lo improve nver habilal for wild brown troul 8nd all the wldlrfe that lives alongside
them, does practical work to effect thal advice and spreads environmental ￿nse￿allOn messages far and
wide.
Advi¢e and pra¢tl¢81 rlver habltst Improvement
W6 completed 241 advisory site visits in the
year, with a geographical spread across much
of the UK and Ireland, from Lincolnshire to
Donegal, Perthshire lo Comw811. 28 more than
last year and 6% 8bove the five-year mean of
228. Some of these visits assessed discrete
sites le.g. weirs and culverts in N. Yorkshire,
rightl through to others in Donegal, Lancashire
and Northumberfand where our officer5 walked
and rèported on many kilometres of river. We
routinely offer informal advice by phone, email
and in-person,. these interactions are loo
numerous to quantify easily.
Page 2

THE WILD TROUT TRUST LIMITED
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2025
We worked on 93 practical projects, 2 less than last year, blrt 19% atthe the five-ygar mg8n of 78. Many of
these events were days in the river wth a group of volunteers, introducing wood and gravel to improve the
physical habitat (left below, in Cambridgeshire). In Berkshire. Cumbria, Hampshire, Lincolnshire and
Yorkshire lrighl, below), more significant projecls were completed, with weirs removed, complex habitat
structures introduced, and the river returned to its more natural course. Additionally, scoping and
development was completed on many further projects auoss England- a suttessful bid to Defra's Water
Restoration Fund produced a grant of £1.18M for a river restoration project in Lincolnshire, to be completed
in July 2026.
Spr¢adSng th• word
We presented in-person 8142 events more than
last year and at the five-year mean), with local angling
clubs, other community groups, sludenls and larger
conferences, an audience exceeding 1500 people. We
contributed lo the 8eaver Trust film, 8818ncing the
Scales, viewed so far by an audience of several
thousand people and pr￿luCed in-house four
informational videos. one ol which attracted 60.000
social media views. Several staff look part in podc851
discussions, including one primarily for 8n Amencan
aLJdiencg. We also contributed lo national iniiiatives,
such as the Chalkstream Strategy and Implementation
Plan.
The website and social me(lia platfomis a￿ Vital
for word spreading. In 24125, the wèbsite attractèd on average 13000 active usèrs per month, with modest
increases in followers on the various social media plarfornis. except X. The Trusl's YouTube channel
rnaintained its view numbers compared to the previous 23124 h￿h, wilh c.70K views of the four videos
posted during the 24125 year.
Our communication focuses on trout ècology, factors impacting rivers land their troutl and what might be
done to help life in and around the river, including tackling impacts from agricultu￿, the water industry and
climate change. We aim lo provide much-needed balance to infomi debates all too often polarised into 'for'
and 'against' carnps, for example those arourKI the work of govemmenl and ils environmental regulators,
wal&r pollution and beaver reintroduction.
Page 3

THE WILD TROUT TRUST LIMITED
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2025
To demonstrate the in¢rgdible difference that habitst improvement ¢an make to a str88m and its inhabitants,
depicted below is a headwater tributary of the River Skirfare in North Yorkshi￿, 4 months Ileftl and 40
months after Irightl a w￿-led project of fencing and tree planting. Such headwaters are vital for the ecology
of the entire river downstream, including production of invertebrates and fish., the right-hand image shows a
stream now much more resilient to the potential impacts of climate change and dgricu￿ure. Monitoring of the
trout population indi¢ated a five-fold increase in numbers of juveniles in the recovered strtram.
Sclence
Several of our staff, including our Research and Conservation Officer. Professor Jonny Grey, maintain close
links to 8C8demia, including involvement with relgv8nt research 81 the universilies of Birmingham, Durham,
Highlands and Islands, Hull, Lancaster and London. Our annual joumal. Salmo Trutta, distributed lo at least
4000 people, included articles where academic research is translated into the practical realm, with pieces on
river re51oralion, habitat complexity, human connections lo the natural worjd, adaptation of Iroul lo metal
pollution, climate change, arctic charr conserv81ion, soil science, Ihe inleraclion of beavers 8nd fish and
citizen science monitoring ol the aqvalic environment.
Last words
In the 24125 year, we added three new people lo tyjr Staff team that induded 8 Director of Operations, nine
Conserv8lion Officers, a Research and Conservation Officer. a Trust an¢J Data Manager, a Fundraising &
Marketing Manager and a Company Secretary. Our invaluable volunteer work for¢e was large, numbering
around 2000 across the year, with key individuals stjch as Patrick Lloyd and Neil Mundy.
A major part of our success is the support and generosity of our supporters who contributed through various
fundraisers and membership donations: we were pleased lo welcome 274 new members in a total of 2709
memkrs by the end of Ihe ye8r, 5% above the five-year mean.
Our many partners among sister NGOS, industry and the highly productive partnership with the 0￿rational
teams of the Environmenl Agency are viial in all that we do., thank you.
Page 4

THE WILD TROUT TRUST LIMrrED
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2025
FINANCIAL REVIEW
Geneial donations and grants of £690,706 12024.. £787.793I We￿ re¢eNed predominantly from the
Environment Agency for specific conservatlon Pfolec18. Membership in¢ome w88 £94,424 cornpared to
£90.922 in 2024. Funds raised via auctions, raffles, events, sales and advertislng tolalled £116.077 12024..
£100,773) and bank interest receivablè was £25,568 12024.. £23,564). Total income fell lo £933.991 from
£1.006,799 In the prgvious financial year.
Ouring the year, consarvation project Costs were £922.63312024.' £890.2631. C08ts of raising funds during
the year were £93,89612024.' £91,804) and lolal expenditure £1,018,529 {2024.. £982.067}.
Net 9xpondilur8 for the year was £82,538 with overall funds of £1.067.579. The trustees ¢onsid8r the
financial position lo be good., funds are mainly h8ld in liquid assets and sufficient fvnds are held in order lo
carry out activitl8s for the fore58eable future.
R•8•ry•8 poIIcy
The Iru8ts89 conslder that the charity requires free r88erves sufficient lo act as 8 buffer agalnsl unexpeclgd
falls In donallon Incomo, unbudgeled admlnlslration axpenses or a well-formed request for an immediate
donation. Our target lavel free reserves Should as a mlnimum cov9r 6 months operating cogls whlch wgre
budgeted al £131k for 2025126. Fr88 res8rve8 are unreslricl8d general funds held in cash ond cash
equivalents not committed, designated or restricted to any particular purpose and a130 April 2025 stood at
£366,652. The Iruslees 8re therefore satisfied that sufficient re8eNes are 8V8llable to enablg the charlty lo
operate for the foreseeable luture and mitsgale the risks idenlifled.
Designal8d funds repres&nl amounts $61 asSde al tho IrLtslees' dlscrelitin for particular purposes or aclivllSes,
as listed In note 16. They ar8 nol included in free r8S8rves because the funds have b99n earmarked lor other
purposes or represent amounts that con only be realised by dlsposlng of the ¢harrty's fixed 88sel8.
Restr￿ted funds represent funding recelvod for Spec￿1¢ projects a5 at 30 Aprll 2025 lolalled £551.475. Slnc8
projects are und8rtaken when lund$ havg 1)een received, this r8prg5gnts the unexpended b8lan¢g on
projects uncompleled or yel lo comm8nce.
PLAN8 FOR FUTURE peRIODS
The trustees plan lo continue the charity's aims ol publiG educallon In and the promollon of conserv8llon of
wild Iroul and their h8bilals, ecosysl8ms and enviTonmgnl. river and w81er conservallon and management,
bullding on Ihalr 9xisling aclivilles and projects. With many years of experienc&, the charity is abl8 lo allocate
resources lo be81 effect to pur8u8 Its oblecllve8.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Wild Trout Trust Limited Icompany number 33459011 wa8 Incorporated on 7 Aprll 1997 and remained
dormant until 1 August 2015, whon th? assols of the former unincorporated charlty, The Wild Trout Trust
Icharfly nUM￿r 1077041, Scottish ChBrlly number SC0398621, were don8tgd to the ch8rltable Company
Icharily number 1162478. Scottish CharSty number SC046354}. The tharitsble company18 govemed by ils
article8 of association as adopted on 16 June 2015,
The buslneys of the chgrtty is managed by Ils dlrectors, who aro the charlty's tru81ees.
S&l•ctlon and Iralnlng of tru8ts•8
Trustees may be Bppoinled by the charity in general m88ling or by the other diract(xs and there mu81 be 8t
18ast two Iru$legs. Tru51ees musl not b8 employod by Ihe charlty or receive any remunar81ion.
Trustees 8re nominated based on their 8xp8ri•nce, empathy and professional skllls lo ensure thè
composliion of the 8oaré 8UPPOrts the needs of the charity.
InductKJn is through informal dialogLt9, meetings wrth the Chairman and forrnal Board meellngs with relevant
PBpèfs 8S8embled in the Wild Trout Trust Principal Documents Handbwk.
I trustees and staff are encouraged to undertake training where necessary to enable thern to discharge
Ihoir rgspon5ibililies more effectively.
Pag8 5

THE WILD TROUT TRUST UMITED
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2025
Pay po¥llcy for sensor employoes
The r8muneratK)n of personnel is determined by the trustees and $81 out In their employrn&nt contracts. As
such, the remuneration of the project director is s81 out under an employment contract made with the
unincorporated charity and its trustees and taken ovor by the charltable company, nO￿lthstandIng the
provision that directors may r¢ot be employed by th8 charity or receive any remun&ralion Ur￿9T th8
company's article¥.
TRUSTEES. RESPONSIBILITY STATEMENT
The Iruslees (who arè also the directors of The Wild Trout Trust Limited for thg purposes of company lawl
are responsible lor P￿paring the Trustees. Report and the financial statements in accord8nce wllh applicabl8
low and Vnll8d Klngdom Accounllng St8ndards {United Klngd¢)m Generalty Accepted Accounting Pracb'ce}.
Company law requires the trustees lo propare financlal Slalemgnts for each fin8nci81 y88r whlch give a tnje
and fair view of the slate of affairs of th8 charitable company and of the incomlng resources and application
of resources, Including the income and 8xpendllure. of the chaiilable company for Ihal period. In preparing
thos8 finanGlal statements, the trustees are requlred lo
select suitabl8 accountlng policles 8nd then apply them con8lslenlly',
observe the methods and principles in the Charity SORP.,
make judgèments and estlrnales that ar8 reasonable and prudent.,
prepare the financlal 8lalemen15 on the going concem ba818 unlèss il 1$ inapproprSale lo presume that the
harllable company will continua in busing8S.
The trustee8 are responslble for kè8ping propor accounting records which dSsclo8e wllh reasonablè Èccuracy
al any lime th8 fi'nancial position ol th8 charitable company and to enable Ihem lo ènsure that the flnanclal
slalemenls comply wllh the Companies Act 2006. They are also r8sponsible for safeguarding tho assets of
the charitsble company and hence for laklng reasonable steps for the prevention and detection ol fraud ané
other Irregul8rftie8.
In 80 far as the Iruslg0$ are aware..
Iherg Is no felevanl audlt Infom811on of which the charitable comp8ny'$ audllor8 are
unawarg,. and
the trust8es h8ve tsken all steps that Ih8y ought lo have lak8n lo mako themselve8 aware of any Talevanl
audll Infomialion and lo establish that the auditors are aware of that inforni8tb)n.
Thls report h86 b8en prap8red in occordance wllh the 8p6clo1 provlsiong of Part 15 of the Companios Act
2C4J6 relallng 10 8mall companS0s.
1010912025
Approved by order of the board of INstees on ......... ................-.................. and slgned on Its behaw by..
S J Francis- Truslee
Page 6

REPORT OF THE INDEPENDENT AUDrroRS TO THE MEMBERS OF
THE WILD TROUTTRUST LIMITED
Opinion
We have audited the financial statements of The Wild Trout Trust Llmlled (the 'charitsble company) for the
year ended 30 April 2025 which comprise thè St81ement of Financial Actwities, the Balance Sheet, the Cash
Flow Statement and notes lo the financial slalemenls, including a summ8ry of signrfi¢ant accounting policies.
The flnanci81 reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards Iunited Klngdom Generally knopl8d Accountlng Practice).
In our opnion the Ilnanclal slalements:
glve 8 true and fair view of the state of the charitable compan￿8 aff8lrs as at 30 Aprll 2025 and of its
incoming resources and application of resources. including Ils income and expenditure, for the year then
ended.,
have been properly prepared In accordance with United Kingdom Generally Acceplad Accounting
Practice,. and
havo bogn prgpared In accord8nce wllh the requirement8 of the Companies Act 2006.
Basls for oplnlon
W8 conduc18d our audit In accordance with International Standards on Auditing IUK) IISA5 (UKII gnd
8ppllcable law. Our responsibili1188 under those slandartJ$ are further deseribed in the Auditors,
r8spon8ibllilie$ for th8 audit of the flnanci81 slalemenls s8ction of our report. We are Independent ol th8
charitablè company In accordanc8 wSlh the elhlcal requirements that are relevant lo our audit of the financl81
slalemenls in the UK, including the FRC'S Elhical Standard. and we have luifilled our olhgr elhlcal
r88pon51bllllles in accordance wlth thèse requiromenls. We bellev8 that the audit evidence we have
oblalned Is SL+fficlenl 8nd approprlate to provide a basls for our oplnlon.
Con¢lu8lon$ rolatlng to g¢lng concern
In audiling the financial slalemenls, w8 have concluded that the Iru5tses' use of the golng concern ba818 01
a¢counling in thè prep8raUon of the financial slalemenls is appropriate.
Based on the work we have performad. we have not Idenlrflad any material unc8rtalnll8s relallng lo events or
condillons that, individually or colloctlvely, may cast $19nificanl doubl on the charlt8ble comp8ny's obilily lo
continue as a going concern for a peri¢)d of al16881 twelve months from wh8n the financial statements are
authorised for issue.
Our responslblllttes an(J the respon8lbllllle8 of the Iruste8s wllh re8pecl lo golrKJ concem 8re descrlbed In the
relèvant secb'ons of this report.
Oth•1 Inlomiatlon
The tru51ees are responsible for the other informallon. The other information comprises the Information
included in th8 Annual Report, olhor than the flnanci81 slalernen18 ond our Report of the Indèpendenl
Auditors Ihereon.
Our oplnion on the flnanclal stotgmenls does not cover tho other Information and, 8xcepl to th8 oxlgnt
olherwl8e Oxplicilly slated In our report, we (Jo not exprèss any form of 895urance conclu8Ion Ihereon.
In connection with our audit of the financk91 slalemenls, our rgsponslblllly is lo read the other information
and, In doing so, Gonsidgr whether thè other inlorm8tlon Is materially Inconsislenl ￿th the financlal
slalemenls or our knowledge ob18ined in the audit or Othern￿$9 8ppears lo be mataiially mSsstBled. If we
identify such material Incon8Islencies or appar8nt materi81 misstatements, w8 arg rgquirgd lo delemine
whether this gives rlse lo a material misstatement tho flnancial statements themselves. If, based on the
work wo have performed, we conclude that there is 8 material fflisstalem8nt of this other informallon. we are
r8quir8d to report that lacl. We have nothing lo report In this regard.
Oplnlons on othèr matters proscrlbed by the Companlas Act 2006
In our OFMnlon, based on the work undgrtaken in the course of the audit..
the inforni81ion given in the Trusl88s' Report for the financial year for which the Ilnanclal st8temenl$ ore
prepa￿(j is consistent with tho linancial 5talemenls', and
the Trustees. Report has been pr8P8red in accordance with applicable legal requirements.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE WILD TROUT TRUST LIMITED
Mattèrs on which ￿ ar• roqulrod to report by excoptlon
In the Ilght of the knowledge and understanding of the Charitable company and its envlronment obtained in
the course ol the audlt, we hav8 not Ident￿led material misstatèments in the Trustees, R8POrt.
We have nothing to report in respect of thè following matters where the Companies Act 2006 requires us lo
report lo you If, in our ¢Jpinion'.
adequate accounting records have not been k8pt or ￿turnS a(Sequate for our audlt hav8 not been
received from branchgs not vislled by us., or
Ihe financial slatements are not In agr&8m9nl with Ihe accounting records Bnd relums,. or
certain disclosures of Irusteos, remuneration specified by18w are nol made.. or
we have not received all the infomalion and explanation5 we require for our audll; or
the trustees ware not entitled lo take advantage of the small companies ex8mplion from tha rgquiremenl
to prepare a Slraleglc Report or In preparing the tru81ees' Report.
Responsibilltl•s of tru8t•ès
As explained more fully in the Truste￿, Responsibilities Stalomgnl, the trustees (who are also the directors
of the charflable company for the purposes of company 18wI are responsible for the preparation of the
flnancial stalemènls and for being satisfied that they give 8 true and fair view. and for such Inlttrnal control as
the trustees determina Is necessary lo 8nable the preparallon of financial slalement8 that are free from
malerSal misslatemgnt. wh8lh8r due lo fraud or orror.
In preparing the finandal 81alement8, th8 Irusle88 8re responsible for assesslng the chorllable company's
abillly to continu8 88 a goSng concern, disclosing, 88 8pplicable. rnatters related to going con¢grn and uslng
the going concem basls of accounting unless the trustees eilhor intend lo liquidate tho charitable company or
to cease Opera￿On8, or havè no realisdc alternat￿8 but to do so.
Our rfj¥ponslbllltlos ft+r tho audlt of the Ilnanclal 8t•t•ment•
Our obj9Glives are lo obtain reasonable assurance about wh8ther the financ4al statements as a whole are
fr88 from material mi8slalemenl, whether due lo fraud or orror. and io issue a Report of the Independent
Audllors that Includes our opinion. Reasonable assurance Is a high level of assuranc8. bul is not a
guar8nlee Ihal an audit Conducted accordance with ISAS IUKI will always del8cl a malerlal misslatemgnl
when il exlsl8. mi851alemenls arf88 from fraud or grror and 8re considered material rf, individually or in
the aggregate, they could Teasonably be expected lo Influence the 8conomlc daclsbns of u8er8 tsken on the
basls of Ihase financial stotement8.
Extont to whlch th• judlt wal conildored capabl• ol d•tOCtlng Irrfjgularftl••. Includlng fraud and Iho
audlt respon$•
Irregulariligs. includlng fraud. are inslanoe8 of non-compliance with laws and regulations. We deslgn
procedur8$ In Ilne wlth our rèspon$ibililles. outlined above, lo d8lect mal8Tial misslal8monts In respeel of
irr8gularilies. including fraud. The exlenl lo which our proGedur88 are capabl8 ol delecliTrJ Irregu18rilies.
including fraud, is dètailed bg1¢)w.
W8 have 8S8essed thè ov9r811 susceptibility of the flnonclal statements lo matorfal mSs8talemenl duo 10
irregularflles as low.
Al the planning $1098 we idenllfied arèas of laws and r8gu18tions that could reason8bly be exp8cl8d lo have
a material 8ffect on Ihe flnancial slalemgnls from our g8n8ral commgrcial and sector èxperienc8 8nd through
discussion with tho direcloTS and other management, as required by auditlng standards. The potenllal effect
of any laws and r8gulallon on the financial slalements can vary con$ider8bly. The￿ are laws and rggulations
that directly affect the ftnanclal statements le.g. the Companies Actl as well a5 many olhgr oper8tlon81 laws
and regulalSon8 where Ihg cons8quences of non-complian¢e could have a material èffect on afflounls or
disclosures in thè financial stalemants. Owing lo the size, nature and complexity of the organlsation and the
applicable laws and regulations to which il musl adhere, tho risk of material misstalgment wa8 deemed to be
low, therefore the procedures perfomieil by the audit team wgre limited lo..
Poge B

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE WILD TROUT TRUST LIMITED
Communicating identified laws and regulations al planning throughout th6 8udil toam lo remain alert lo
ony indic8tlons of non-compliancè throughout the audit.
Enquiry of managefflent and those charged with governance around actu81 and potential litigation and
claims as well 88 non-compliance with18WS and regulations.
Reviewing minute5 01 meetings of those charged with govemanco.
Reviewing financial statement disclosures and testing to supporting documentation lo assess compliance
with applicabl8 laws and regulations.
We have assessed the overall suscepllblllty of the Ilnandal Slatemenls to matert81 misslalement due to fraud
as bw b8cause the nature of the charitable cornpany dogs not particularly lend i158lf to fraud.
Management override is inherently hlgh rlsk on any oudit. Management override, which may cause there to
be a material mis$tatem8nl wllhln the financial stat6ments, may present itself in a number of ways. for
example..
Override of inlemal conlrols1o.g. segregabon of duliesl
Entering into transactlons outside the normal cours8 of business, especially vAlh Telal8d parties
Fraudulent revenue recognition. including ficlilious sales and sales being recorded in the wrong periotj
Pr8s8nling blas in accounlng judgemenis and 8sllnalg8.
In order lo reduc8 thè risk of material mlsslalement lo an acceptable level, numerous audll procedur88 were
performed Includlng..
Enquirles of management 88 to whether they had any kno￿edge of 8ny actual or 8U8pected fraud
Revlew of all malerl81 Journ81 enlrlgs mad9 throughout the yèar as w811 a8 th088 m8de to prgpore the
financial slal8m8nls
Reviewlng the underlylng ralbnale behind IrBnsaclion8 In (¥d6r to a$s8ss whether they were oulslde the
normal course of bu8in888
Reviewlng th8 mlnul88 of meetings held by manag8m8nl.
Incr8asgd subslanlive lesllng across all material Incorne streams
Assgssing whether managem8nl's judgemen16 and eskn"mala$ indiGatgd potential bla$
Owing lo the inh8r8nl Ilmllallons of an audll. there an unavoidabl8 risk that we m*y not have delocled
material mis81alemenls in th8 financial statements, evèn Ihough we have performed our audrt in accordance
wllh auditing 8tandards. Furthermore, as with all audits. thera is a hlgher rf8k of irre9uladlSes 18speci811y
those relallng lo fraud) being undelecled, 38 th858 may involv8 the overrKle of inl8rnal controls, colluslon,
inlentlon81 omlsslons and misr8pr8senlallons ele. Wg arg not responsible for prgvenling non-compliance or
fraud and Iherefora cannot be exp8cled lo delect all instanc8s of such. Our audll w8s not deslgned lo
identify misst81emenls or other irregularities that would nol be considered lo be mBterSal lo the fin8ncial
Slalements. The further removed non-compliance with laws and regulations Is from Ihe avents and
Irans8clions refleclad In the fln8nclal Statements, the less Ilkely we would bg¢om8 aware of it.
A further d8scripllon of our responslbillligs for the audh of tha financlal stat8menls is located on the Fin8nci81
Reporting Council's websilo at www.frc.org.uklauditorsr&sponsibililies. Thls descrlplion forms part of our
Report of tha Independ8nl Audilors.
Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE WILD TROUT TRUST LIMITED
Use of our report
This report is made solèly to th8 charitable company's memb8rs. as a body, in accordance wrfh Chaplgr 3 of
P8rt 16 of the Companies Act 2006. Our audit work has been undertaken 80 th81 we might state lo the
charftsble company's membars those matters we are requir8d to state lo them an auditors. report and for
no other puipose. To tho fullost exlent permthd by 18w. we do nol accept or assume responsibility lo
anyone other than th8 charitsbl8 company and the charitable companvs members as a body. for our audit
work, for thls report. or for the opinions we hav6 forned.
Martln McDonogh IS8nSor Ststulory Audltorl
for and on behalf of Hart Shaw LLP
Chartered Accountants
Stslutory Auditor
Europa Link
Sh8ffield
South York8hirg
S9 1XU
I￿.04
Page 10

THE WILD TROUT TRUST LIM￿ED
STATEMENT OF FINANCIAL ACTNMES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOU14T)
FOR THE YEAR ENDED 30 APRIL 2025
2025
Total
fund8
2024
Total
funds
Unreslrfctsd
lunds
ReStr￿ted
fund
INCOME AND ENDOWMENTS FROM
Donations and grants
160.206
632,140
792.346
882,462
Other trading activities
Investment income
116,077
116.077
100,773
Totsl
301851
EXPENDITURE ON
Roising fund8
93,896
93,896
91,804
Charltabl• actlvltle#
Con8erv811on prol&cl costs
178 270
922 633
Totsl
1016 529
NET INCOMEIIEXPENDITUREI
Tran8fors b•tw•èn funds
29,685
16 ￿022)
1112,2231
622
(B2,5381
24,732
Net mav•m•nt In fund•
29.063
1111,6011
182,5381
24,732
RECONCILIATION OF FUNDS
Total funds brought fomard
487,041
663,076
1,150,117
1,125,385
TOTAL FUNDS CARRIED FORWARD
516 104
551475
1067 579
1 150 117
The not8s form part of the88 flnanci81 slalements
Page11

THE WILD TROUT TRUST LIMITED (REGISTERED NUMBER: 03345901)
BALANCE SHEET
30 APRIL 2025
2025
Total
fvnds
2024
Tot81
funds
Unreslrfcled Restrfcted
funds
fund
Notes
FIXED ASSETS
Tanglble assets
12
3,316
3,316
3,081
CURRENT ASSETS
Stocks
Debtors
Cash at bank
13
14
3.410
13,080
532 699
3.410
14.977
1137354
2,687
18,441
1177651
1,897
549.189
606.552
1,155,741
1,198,779
CREDITORS
Amounts falling dL48 wlthin one ￿ar
15
136,401)
155,077)
{91,4781
151,T431
NET CURRENT ASSETS
512 788
551475
1064 263
1 147 038
TOTAL ASSET8 LESS CURRENT
LIA81LITIES
516,104
5S1,475
1,007,579
1,150,117
NET ASSETS
551476
1067 579
1 150 117
FUNDS
Unr&slrlcl8d funds
Reslrlcled funds
516.104
551475
487.041
863 076
TOTAL FUNDS
1067 579
1150 117
Th9s9 flnanclal slalements have been prepBr8d In accordance wllh th8 provl8lons applkable lo charltabla
companies subject lo the small eompanle$ roglme.
The flnanci81 Slalements wgrg approved by the Board of TrLb81e8s and aulhorised for i$$u* on
1010912025
. ond w8r8 signed on Ils by..
S J Francis- Tiuslgo
The note8 fom part of these Ilnancial 8tstemen15
Pagg 12

THE WILD TROUT TRUST LIMITED
CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2025
2025
2024
Note
Cash flows from op•ratlng activiti•s
Cash generated from operation8
18
65,71
Net cash lused Inyprovlded by op8r8ting activllles
61.565
Ca•h Ilow• from Inv•stln9 actlvltlfr*
Purchase of tangible fix8d assets
Interest receiv8d
{1.6271
Nel cash provlded by InveBting 8clivilies
Ch•ng• Sn ush and calh •qulval•nts
In th• r￿OrtIng porfod
140,297)
79.739
C•sh •nd cash equlval•nt# •t the
b•glnnlng of th• r•portln9 porlod
1177 651
1 097912
Caih and cash •qulval•nt• al th• ond
of th• rgportlng perlod
1137 354
1 177851
Thè notes form part of these ffinanclal statements
Pagg13

THE WILD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
ACCOUNTING POLICIES
Ba$16 of preparatlon
The Wild Trout Trust Limil8d is a chariiable company inwrporaled in England and Wales, a regislere(i
arKI a ScDtlish charity and mee15 the definition of a public benefit entsty und8r FRS 102. The
company is limilgd by guarantee. Th8 flnancial statements have been prepared in accordanc8 with
the Slalemenl of Recommended Practice.. Accounting and Reportlng by Charities preparing IheSr
accounts in accordance with the Financial Reporting Standard appllcable in tho UK and Republic ol
Ireland IFRS 1021 issued in October 2019, the Charities Act 2011. the Charity Accounts Iscotlandl
Regulations 2006 las am8ndedl, the Companies Act 2006 and UK Generally Accepted Pract￿8.
Th8 ftnancial siatemonls aro Prgpared on a golng concem bas15 under tho hiS￿l¢al cost convenb'on.
Ther8 ar8 no material uncertainli8s regarding the slalu8 of the charity as a golng concern.
The signllicanl accounting pc4icies apPl￿d In the preparation of thes8 ￿nanCIal slalements are sel oul
b81ow.
These policlg¥ have been conslstenlly 8pplied lo all y8ars presented unle88 0th8rwlse slated.
In¢om•
Incomo Is recognlsed when the charity has enli118menl lo the funds after any performance conditions
hav8 beon mel, il 18 probable Ihal the income will be recèived ond the amount can be measured
reliably. The following specllic policl8s 8re applled lo partlcular cotogorigs of Incom8'.-
For donations to be recogni5od the charity wlll have been notsfi8d of the amount8 and the 5glllemenl
dale in wrillng. If there ale condltlons 8tt8ched lo the donation and Ihls requires a levgl 01
perfomiance before enllll8menl can b8 oblaln8d then Income is deferred untll those conditions are
lully mel or the fuifilmenl of th088 conditions Is wtthin the control of the charlly and 11 1$ probable th81
they will be fulfilled. Incomg from grants is re¢ognised al fair valuo when the charlty has enlll18ment
aft8r any ￿rfOrManCe condition8 have been mel. il is probable that th8 Incomè wlll bg focelved and
th8 amount c8n bg mgasured r8llably. If enllllemgnt Is not mel then these amounts 8f8 deferred.
Donal8d faGlllli98 and donated profB$51onal Sgrvices are recognlsed In Income at their fair v81ue when
their economic benefit 15 probable, il cgn be measured rellably and thg charily has control over the
itèm. Fair v8lue is delermlned on the basis of th8 value ol tho gift lo the charity. No amount is included
In the flnanclal 81alem8nts for volunlegr tlme in line wllh the SORP {FRS 102).
Income from olh8r trading aclivllies Indudes amounts rec9ived from auctions and raffle5. fundraising
evenls, the s8le of merchBndise and advertising. Gifts In klnd donated for rèsale are Included as
Income from other Iroding acuvllles upon sale.
Inve8tment Income ropresenl8 Interest reeelvable on UK bank deposi18, recognlsed whgn rgcelvable
by the charity.
Exp•ndlture
All expenditur8 is accounted for on an accnjals basis alld is recognised where there ig a 18gal or
conslrucb'vg obligation lo make paymgnts to third partl88, 11 Is probable that the gettlement will be
rgquired and the amount of thè oblig8llon can be measured rellably. 11 is calegorised under the
following headings..
Costs of raising funds comprlse costs relats'ng to other trading adivilies and those costs In￿rred in
Segking voluntary conlribulions.
Charitable expendilurg compdses those costs incurred by the chadly in the delivery of its activSlles
and Services for its ben8liciaries. 11 include5 both costs that can bo allocalod directly to such actlvS1188
and those costs of an indirect nature necessary lo support them.
Page 14
continued...

THE WILD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnu•d
FOR THE YEAR ENDED 30 APRIL 2025
ACCOUNTING POLICIES - contlnu•d
Ex￿￿￿*tur*
Support Costs are those that assist lh6 work of the charity bul do r￿1 direcuy represent charitable
activf(i8s and indud8 office costs, governance costs, administrative and payroll cost5, They ar8
Incurred dlreclly in SLJPPOrt of 8xp8ndilure on the obj8¢ts of the charity. Where support costs can falrly
be assigned bg¢ween co818 of raising funds and charltable aclivilies, the Iru5tees consider the
following proportions lo be appropriate'.-
RJlslng
Funds
10D
20%
Charltabl•
Actlvltl•#
90V.
80%
Gangral expenses
Telephone and computer costs
Staff salaries, office adminislrBllon, printSng. Stationary and postage.
travel and subsislencg
Motor expenses
FIx8d asset depreclatSon
Proje¢l dlrectorfs omolum8n18
30%
10%
10%
20%
70%
90°/o
90%
80%
Conlrlbutions lo the workplacè pan$￿￿ and employee5, independently 8dmlnlsler8d personal p8n8ion
8ch8m98 are charged to the $tstement of financlal activitigs as they becomg payable by the charmy.
Irrecoverable VAT Is Ghargod as an expense ag8lnst the actSvlty for which expendllure aro88.
T4nglbl• flx•d aBs•ts
Tangibl8 fixed a$so1y costing £100 or more are slated al G051 less accumulated deprgciatlon.
Deprecia￿onI5 provld8d al rates calculated lo wrlle off the cosl1g3$ residual valu8 of each a5s81 over
Its 8xpeclad usgful life as follows..
Con8erv8lon offlcers, equlpment
Flxlures, littlngs ond equSpmenl
Motor v9hicles
25% Slralght Ilne
25•A slraighl line
25% reducing balance
8tock•
Stocks of goods for re881è arg Included at the l¢)wer of cost ond not r8allsable v8lu9 on a FIFO bas1$.
T•x•tlon
The charity is èxémpt from corporallon lax on Its charltable acllvllles.
Fund accountlng
Unreslricled general funé8 are avallable lor u$9 al the di¥erelion of the trustees in furtheranc8 of lh8
general objecliv8s of the charlty and have not been (leS￿nated for other purposès. Designated funds
comprise unrostrfcted funds that hav8 been 8el a8ld8 by the trusteès for particular purposes. The 81m
and use of gach designated fund is sol oul In the notes to th8 flnanclal 8talemenl$.
Restrlcted funds are funds which are lo be used in acwrd8nce with 5pg¢ilic reslrictbn8 imposed by
donors or which h8ve bè8n rolsed by the charity for partlcular purposes. Thg Cost of r8i5ing and
adminisl8dng such funds ar8 charged against the specific fund. The aim and use of each Teslricled
fund is set out in the notes lo th¥ financial stalomonis.
Debtor8
Trade and other debtors 8re recognised at the selllemenl amounl due after any trade discount
offered. Prepayments are valued at the amount prepald n81 of any trade dlscounts due.
Cash at bank and In hand
Cash al bank and cash in hand includes cash and sh¢Jrt term highly Ilquid investments with a short
maturity of thre8 months Of less from tho date of acquisition or opening of the deposit or 8Smilar
account.
Pago 15
onlinu8d...

THE WILD TROUT TRUST LIM￿ED
NOTES TO THE FINANCIAL STATEMENTS - contlnu
FOR THE YEAR ENDED 30 APRIL 2025
ACCOUNTING POLICIES - contlnued
Crediters and pr¢vl$lons
Creditors and provisions are recognised where the charity has a present oblig3lion resulting from a
past event thal wlll probably result in the transfer of funds lo a third party and ihe amount due to setue
the obligation cen be measured or 8Stimaled reliably. Creditors and provlsions are normally
recognised al their settlement amount after allowlng for any trade discounts due.
DONATIONS AND GRANTS
2025
2024
General donations arKI grants
Subscriptions
Advisory and practical visits
690,706
94.424
787,793
90,922
882 462
Income from donations and grants was £792,346 12024.. £882,462 of which £160,206 12024..
£229,725) a8 attributable to unreslricled and £632.14012024'. £652,737) was allribuloble to restrlcted
fund8.
OTHER TRADING ACTIVITIES
2025
2024
Merchandi88 SBI8S
Auctions and raffles
2,279
113 798
2.571
100,773
Income from other tradlng actlv1119818 solely attrlbulabla to unroslricted funds.
INVESTMENT INCOME
2025
2024
UK bank Inlerègl
Inv8slment income Is 5oloty 8ttrlbulable to unrestrtcted fiJndB.
Page 16
conllnued...

THE WILD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS . contlnued
FOR THE YEAR ENDED 30 APRIL 2025
RAISING FUNDS
Oth•r tr•dln8 a¢llvitlo•
2025
2024
Purchases
Advertising, printlng and publishing
Auctions
Support costs
2,882
26.165
11.244
2.362
27,453
10.415
Expendlturè incurred on other trading aclivi11gs is 8018ly atlribulable lo unrestricted funds.
CHARITABLE ACTIVITIES CO8rs
Direct
Costs Isee
note 7
Support
CO818 (sea
nol8 81
Totals
conserva￿On projèct costs
245 785
ExpendSlLsre incurrèd on conservation projects was £922,633 12024.. £890,263) of which £178,270
12024, £228.6061 wa5 attributable lo unreslrlclgd and £744,36312024.. £661.6571 was attributable to
reslrlcted lunds.
DIRECT C08TS OF CHARITABLE ACTIVITIES
2025
2024
Staft Gosts
Proiect costs and advlsory and practical v161t8
312,765
269.374
406.287
SUPPORT COSTS
Governanco
co$1$
Administration
Flnance
Totals
Olhor trading activilles
Con88rvalion project costs
53,605
208 034
53,605
Page 17
continued...

THE WILD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnu8d
FOR THE YEAR ENDED 30 APRIL 2025
SUPPORT COSTS- contlnuod
Support co8ts, includ8d in tho above, ar8 as follow$.'
2025
2024
Other
trading
aclivS1ies
Conservation
proigct
costs
Total
actlvities
Total
acts'vlti08
Staff Costs
Social security
Pensions
Insurance
Posiagè, slalionery and prfnling
General gxpenses
Other offi'c8 expensès
Motor and travelling c05ts
Communlcalion and Infomallon
technology
Subscriptions
Depreciation
Bank chorges
Exchang8 rale varlance
Auditors, remuneration
Olh8r 8ccounlancy charges
Legal and professlonal fees
23,705
11,083
8,353
99,861
2B,785
28,108
7.054
2.112
4,154
123.566
39,868
36,461
7,054
3,017
4,616
3,859
33,617
115.692
34.648
30.880
4.790
2.443
4.106
4.184
26.224
905
3,859
3,S85
30,032
1,514
6.054
621
1.253
3.550
505
7,272
20,484
5.084
581
1.534
2.984
319
7.330
19.406
621
1,392
3,550
505
7.272
20,484
139
245 785
266 178
NET INCOMEIIEXPENDrruREI
Not Incomgllexpondllure)18 81aled 8ft6r charglngllcrodrtlngl:
2025
2024
Audllorfs fe88- 8lalutory audll
Depre￿atIOn - owned 88sel$
7,272
7,330
10. TRUSTEES. REMUNERATION AND BENEFITS
There were no Iruslges. remuneration or olhar boneflts for the ye8r ended 30 April 2025 nor for the
yoar ended 30 April 2024.
Tru•t•eg' •x￿nI0¥
There wèrg no trustees, expen8e8 pahj for th• year ended 30 Aprll 2025 nor for the year ended
30 April 2024.
Page 18
continued...

THE MLD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 30 APRIL 2025
11. STAFF COSTS
2025
2024
Wage5 and salaries
S¢xial security costs
Other p8nslon costs
436,331
39.868
385,066
34,648
30,880
512.660
Employee cost8 are allocated to reslricled or unrestricted fUr￿S based on the time spent on each
project or acllvlty and supp(yt w818 in lin8 ￿th the prOpO￿onS slated in the accounting pdicy note.
Thè Trust ha5 sel up a workplace pension under th8 aulo-8nrolment sch8m8 with conlribulions
charged lo the statomonl of fSn8nci81 a¢livilies as Ihgy b8com8 payable. Other pgnsion costs are
conlributlons PByable by the Trust Into employees, personal p8nslon schemes and charged lo the
Statement of finand81 activities a8 they become pay8bl8. All pension ¢08ts are allocated to
unrè51rlcled funds.
The average monthly numbèr of èmployees durlng the yaar w88 as follows..
2025
2024
AdmlnS8lr8lon
Conseryallon officèrs
12
The numb8r of 8mpbyees whose employeè b8nefrts {excludlng employer p9nBlon c0818> excaaded
£60,000 wa8..
2025
2024
£70.001- £80,000
12. TANGIBLE FIXED AS8ET8
Conseryallon
Flxluros,
officers,
filtings
equSpmenl & equipment
Motor
v&hlcle8
Totals
Co•t
At 1 May 2024
Addllions
5,194
9,501
11,194
25,989
At 30 Aprll 2025
Dopreclatlon
At 1 May 2024
Charge for year
5,194
7.332
10.282
228
22,808
At 30 Apr¢1 2025
Nel book valu•
At 30 Aprfl 2025
AI 30 April 2024
912
Page 19
continued...

THE WILD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued
FOR ThE YEAR ENDED 30 APRIL 2025
13. STOCKS
2025
2024
Stocks
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade debtors
Prepaym8nls
rued income
748
4,797
3,520
3,408
11,513
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Soclo18ecurity and other t8X8S
Other crodllors
Accruals
Def8rr8d membership Incorne
8,469
7.549
65.501
6.451
3,092
33.988
51,743
Deferred m8mbgrship income rel8188 to 8ubscription8 re¢elvod in advanc8 for the followlng perlod and
18 expected to be relgasgd to Ihe slalement of linandal acts'vllles in that accounting period.
16. MOVEMENT IN FUNDS
At 1 M•y Incom• Expondltur• Tranfjfor• At 30 Aprll
1024
b•tweon
202S
fund•
Unr••trlct•d InGom• fund•
Genaral lunds
293.665 284,495
177,807
{17,411}
383,142
Doslgnaled fund8'.
Fixed assets
Cousins Legacy
Dorset Chalkslreams
Environmental Conllng8ncy
GAAFS Llnc8
Practical Resources
SCOC Chalkslreams Partnorship
Southern Chalkslr8arn
Yorkshire Fly Fishèrs Don8tson
Harris Sea Trout Fund
CURAT Trainlng
CO Mgntoring Fund
Yoikshire Dales NPA
FRESH
Total unrestrlctsd Income funds
3,081
101,782
14,589
11.513
12.176
5,567
1,000
8,740
330
25,850 10,976
3.914
50
863
4.986
285
1,392
41,524
5,619
7,032
246
4.844
7,912
18,710
80
1,627
10.000
3.316
70,258
9,750
4,481
11,930
1,723
1,158
18,116
3,834
1,025
3.962
162
5,000
6,024
285
2,037
516,104
4,250
487,041 301,851
2.213
272.166
16221
Page 20
)nlinu8d...

THE WILD TROUT TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnugd
FOR THE YEAR ENDED 30 APRIL 2025
16. MOVEMENT IN FUNDS. contlnued
At 1 May In¢omg Expendlture Transfers At 30 Aprll
2024
b•tweon
2025
funds
R•strlctsd Incomo fund#
River conservallon Prdects..
Abbby Riv8r
Alre FIP
Allen LRS
Amwell Magna
Auckley GaugSng W8lr
B8d88y Brook
Bedford Rfver INarl
Bentley Brook
Better Backs
Blylh Gauging Walr Fl8h
Bradlord Beck
Br8ilsford Brook Ednaston
Bristol Fromè Imp
Buckmlnsler Estates
Bucky Ou$• Habltat
Burralor
Byron's Pool Fish Pas8
Cam & Granla 8
Caslhofpe
Cloughanaely AA
Cumbria Angler Engagement
Cumbrian CDM
Das1911 Hatches (Nadderl
Derbys Dorwenl Flsh Passage
OerbyslNolts Flsh Passage
Prolects
EA AV & PV PartnershSp
EA WFD Agr99menl
Ecclesboum8
Ennis Angling
Eridge Stream
Gayton Brook
Gell VVeSrg
Greywell Flp
Hills 2 Levels
Ilchen Salmon Plan, donor EA
Klngslon Brook
Langley Flsh Pass
La
Lawco
Letting the Dove Flow
Lincolnshire Limestone Beck8
Lincs & Northants
Littl8 Ponton WRF
Marron Walkovers
Midlands Walkovers (Alnel
Mimram FIP
Misboume
6,855
2.032
3,574
625
6,284
5,329
10,288
14
1.613
24
571
1,968
1,535
387
8,137
1,347
162
9.382
5.265
8.249
12241
9.750
1,371
162
9,575
12831
193
7,769
1,544
272
415
2,373
30.088
24
24
596
3.631
39.279
163
4,271
145
23,195
262
714
8.616
9,750
8,206
1.048
285
3.009
1,318
680
5,082
300
30.088
917
810
1.250
4,249
654
1.321
462
1,050
39,741
1347}
429
2.636
791
25,423
3.333
5,000
3.365
2.228
13,071)
11,665
10,951
36,496 109,230
3,661
26.538
464
931
4,449
11,1361 33,533
3.000
137.447
73
28,$64
347
1.155
492
31.481
3,587
471
4.005
31,830
131
72
10,542
(3,7001
21,940
23,906
1,451
685
8.279
3.588
610
1,416
117
224
3,957
916
587
2,224
15211
5.000
109 31.721
6.550
718
44 11.757
3.517
7.966 20.892
183.198
5,453
1.753
474
16.419
646
1.259
7,217
6.918
164,745
11.4511
1.410
2.095
2.367
108
1.004
3.387
113
16
Page 21
continued...

THE WILD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS . ¢ontlnued
FOR THE YEAR ENDEO 30 APRIL 2025
16. MOVEMENT IN FUNDS - contlnu•d
At 1 May Income Exp•ndltur• Transfers At 30 Aprll
2024
b•twè•n
2025
fund•
Moy RT - Walkovers
Nidd
North8a81 LWM
Norwell Beck Phase 2
Olanligh Weir
Open Rivers
Pebble
Upper Wilham H8bilat
Port8r Brook Weir
Rib FIP
Ribbl8 Rlvers Rerslorallon
Rivor Axe
River Burn Improvements
River Darent Enhancemènts
River Dawros
Rlver Easkey
River Ehen & Trib$
Rlver Glen Boolhby
Rivgr Leen
Rlver Team
Rlver Tean
Rlvers & wa￿and9 D8y6
Rivers Meden & Maun
Rocesler
Rodlng FIP
Rolh&r Trout & Grayllng Spawning
Sid
Somer8et Stream8
Slenigol Back
Swale FIP
Trees for Sk5rf8re
Trout B9ck
TWIST
United Ulllilies
Upper Aire Land
Upper Wllham Scoplng
Ure FIP
Wansbgck Surveys
Watercress & Winlerbournes
Wharfe FIP
Wicklow Workshop
William Grant Foundation
Wyre BCLR
Yorkshire Water Rlverg & Wetland
YWT Restoration Sltes
Total rg$trld•d In¢om• funds
1.941
301
4,046
501
95
3,538
1,686
205
51,282
456
226
1,181
5,336
33,051
2,506
24
526
6,114
5,208
695
759
1,075
2,022
7,250
773
18,265
71
347
2,821
1,285
1,054
24
22,500
2,710
22
11.3361
510
4,293
6,110
7,530
3,750
{2961
177
51.105
5.183
47
1.799
8,388
92,661
4.727
179
618
3.052
59,610
239
902
25,543
681
2,740
926
26,069
6,795
3.905
1,303
33
662
13,901
15441
1,697
1,997
28,190
48,333
3,365
17,276
13.142
572
1,410
372
27,417
30,068
2,191
1,735
5.625
13,2941
16.929
908
3,715
3,729
5,000
1,050
1,482
1,458
22.500
2,300
1,462
695
463
19,493 23,498
1,866
1,635 52.000
39,997
1551 14,445
751
910
3,606
183
1,680 12,345
1296)
4,600
13,961
24,200
4,500
663,076 632,140
1,052
673
463
18.500
1,826
36,438
26,491
40
17,197
39,997
8,C67
24
1,C63
3,480
163
13.169
3,822
18,313
2,941
744,363
6,323
727
709
3,700
20
856
862
3,574
19,848
1,559
551,475
622
T¢•tal All Funds
1.150, 117 933.991
1,016,529
1.067.579
Page 22

THE WILD TROUT TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 30 APRIL 2025
16.
MOVEMENT IN FUNDS- ￿ntInUed
Purpo89$ of funds
Unreslrict8d g8n8ral funds are held for gen8ral charitable purposes in pursuK of tho objectives of the
Trust and represent lh8 fr88 reserves of the charity.
D￿ignated funds are unr8strlGled fvnds representing monies earmarked by the trustee8 for a
particular purpose or advlty.
Rlver conservallon project fvnds have been donated for specrfic cons8Thalion projects on r￿815
thr(￿ghout tha 8rilish1498.
TranBfor8
Small Iransfgrs were mode belween funds where authortty was recaived and fundlng was for relgvant
purposes.
Any Iransfors from re8lrlcled lunds lo unreslrlcled funds 8re mad8 wlth the eX￿1ClI authority of the
d¢)nor lo cover management cost8 of r818ted proleci8 funded through gen8r81 funds.
17. RELATED PARTY DI8CLO8URE8
There ar6 no related party Iran88Ctlon8 requlrlng dl8ckJ8ure In ellher ye8r.
18. RECONCILIATION OF NET IEXPENDITURE)nNCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2025
2024
M•t l•xp•ndltur•)Ilncom• for th• r•portlng p•rlod {•• p•r tho
Statament ot Fln•n¢lal Actl¥It1￿)
{82,S38}
24,732
Adjustments for..
DeproclalSon charges
Inlgrgst recelvad
Inl8re81 receivable
Ilncr8aselldecrea88 In sto￿5
Decrease Ir) debtors
Increase in credllors
1,392
127,0471
1,479
17231
1,985
1,534
118,174}
{5,3901
767
44,359
M•t c•$h Iu•od Inllprovldad by operatlons
65717)
19. ANALYSIS OF CHANGES IN NET FUNDS
At 115124
Cash fflow
At 3014125
Not cash
Cash al b8nk
1137 354
Total
1 177 651
40.297
1,137,354
P8ge 23

THE WILD TROUT TRUST LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2025
2025
Total
funds
2024
Total
fund8
Unrestricted
funds
Restricted
funds
INCOME AND ENDOWMENTS
Oonatlon$ and grnnts
General donations and grants
Subscripllons
Advi80ry and practécal visit$
65.096
94,424
686
625,610
690.706
94,424
7.216
787,793
90,922
3.747
6,530
100,206
632.140
792,346
882,462
Oth•r tradlng a¢tlvltlo•
Merchandis8 sales
Auctbns and r8ffl88
2,279
113.798
2,279
113.798
2,571
98,2Q2
116,0
116.077
100.773
Inv••tm•nt In￿m•
UK bank intorosl
25,508
25.568
23,564
Total IncomSng reBource•
301.851
632,140
933.991
1,006,799
EXPENDITURE
Other trndlng •¢tlvltb•¥
On-llne merchandlsg sales
Advertlslng, prlnung and pub118hing
Aucllons
2,882
26,165
2.882
26.165
2,362
27,453
10,415
40.291
40,291
40,230
Charllable •ctlvltl••
Staff costs - conservalon offlc8
Proj8cl co8t8 and advisory and practlcal
visits
{40.467)
353,232
312.765
269,374
406 287
125,3541
702.202
876,848
675,861
support C06ts
Admlnl•tratlon
St8ff costs
Soc181 security
Pensions
Insuran¢o
Postage. statlonery and prlnling
G8n8ral exp8nses
Other offi¢9 expgnse8
Motor and travelling costs
Communlcallon and information leGhnology
C8fTied fornard
99,145
39,868
36,461
7,054
3,017
4,496
3,859
16,502
7,568
217,970
24,421
123,566
39,868
36,461
7,054
3,017
4,616
3,859
33,617
7,568
259,626
115,692
34.648
30.880
4,790
2,443
4,106
4.184
26,224
5,884
228,851
120
17,115
41,65fj
Thls paga doe8 not form part of the statutory financial ststemen15
Pag9 24

THE WILD TROUT TRUST LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2025
2025
Tolal
funds
2024
Totsl
funds
Unrestrid8d
funds
Restrictsd
funds
Admlnistratlon
Brought forward
Subscdp1￿nS
Depreciation
217,970
621
41.656
269,626
621
228,851
581
219.983
41,656
261,639
230,966
Flnanc•
Bank ¢harye8
Exchange r81e varlancè
3,550
3,$50
505
2,984
319
S05
3.550
$05
4.055
3,303
Govèrnance ¢08ts
Auditors, remungralion
Other acoounlancy chargès
Legal and profe581onal fees
7,272
20,484
7,272
20,484
7,330
19,406
Total rasourcas expended
272 166
1016 529
982.067
Ngt Incom•
ThSs page doè8 not fonn part of the Statutory financial statomenls
Page 25