2022-12-31-accounts

Charity number: 1195940

THINKAQUA

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2022

THINKAQUA

CONTENTS

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1
Trustees' Report	2 - 4
Independent Examiner's Report	5 - 6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Financial Statements	9 - 16

THINKAQUA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2022

Trustees	Dr David Little, Chair (appointed 11 October 2021)
	Henry Graham Hughes (appointed 11 October 2021)
	Richard Jones (appointed 11 October 2021)
	Aisla Jones (appointed 11 October 2021)
	Katherine Louise Prudden (appointed 11 October 2021)
Charity registered number 1195940 Principal office 101 New Cavendish Street London W1W 6XH Independent examiner Harris & Trotter LLP Chartered Accountants 101 New Cavendish Street 1st Floor South London W1W 6XH

Page 1

THINKAQUA

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the financial statements of the ThinkAqua for the period 27 September 2021 to 31 December 2022.

Objectives and activities

a. Policies and objectives

The objects of the CIO are:

To promote sustainable development for the benefit of the public by:

(a) the preservation, conservation and the protection of the environment and the prudent use of resources; (b) the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities;

(c) the promotion of sustainable means of achieving economic growth and regeneration.

Sustainable development means “development which meets the needs of the present without compromising the ability of future generations to meet their own needs”.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Activities undertaken to achieve objectives

Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.Para 1.17 and 1.19 ThinkAqua is delivering sustainability improvements for enhanced social, economic and environmental outcomes, particularly for smallholder farmers in developing countries.

We have been working with smallholder fish farmers in Uganda, Kenya and Nepal to improve their productivity and reduce their environmental impact. We have been supporting smallholder shrimp farmers in Indonesia to reduce their environmental impact, disease burden and attain sustainability certification.

We have also delivered global reference documentation on sustainable aquaculture development with international organisations.

The information issued by the Charity Commission on public benefit was made available to all Trustees on joining the board of ThinkAqua and is used in evaluating and determining all activities of the Organisation.

Achievements and performance

a. Main achievements of the Charity

ThinkAqua’s projects have:

(a) Directly improved the livelihoods of 1,813 people through interventions on farms and through capacity building;

(b) Improved the environmental, social and economic impact of 43,335 metric tons of fish and shrimp produced in Kenya, Uganda, Nepal and Indonesia;

(c) Increased the capacity and understanding of 39 partner organizations about effective approaches for increasing sustainable aquaculture.

(d) Two global reports on innovative approaches to addressing the potential of sustainable aquaculture.

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THINKAQUA

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022

Achievements and performance (continued)

b. Review of activities

The income for the Charity for the period under review was £290,622 and the expenditure in the furtherance of the Charity's objectives were £221,220.

The Charity's restricted reserve at the period end was £550 and the unrestricted reserve was £68,852.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees have adopted a reserves policy whereby sufficient cash reserves are held to cover immediate and future committments. The balance of cash reserves at 31 December 2022 was £76,738.

Structure, governance and management

a. Constitution

ThinkAqua is a registered Charity Incorporated Organisation, Charity number 1195940, and is constituted under a Foundation Model of Constitution.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Foundation Model of Constitution.

Page 3

THINKAQUA TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Statement of Trustees. responsibillties The TDJstees are responslble for pr8parfng the Trustees. Report and the financlal statements in aGcordance with applicable law and United Klngdom Accountlng Sland8rds (Unlted Klngdom Generally Accepted Accounting Practiol. Tha law appllcabl8 to thadties In England & Wales requlres the Trustees to prepare financid statements for each financlal perfod whlch glve a twe and falr vlew of the slate of affairs of the Charity and of its incomin9 resources and appllGgtton of resources, Includln91ts Income and expenditur8, for that pertod. In preparing ihese financlal statements, the Trustees a￿ requlred to: select suitab16 accounting pollcles and Ih&n apply them ¢onslstenUy, obseTve th6 method8 and principles of Ihe Chartties SORP (FRS 102); make ludgments and accounting e$limat8s ihat are reasonable and prudent,. state wh&ther applicable UK Ac￿Unting Standards IFRS 102) have b8@n follo￿d, 8ublect to any materfal departures disclosed and explained in tho finan￿al statements-, prepare the financial statements on tho going Goncem basls unte8s It Is In8ppropr18te to presumè that th8 Charfty w115 continue In business. The Trustees are respon51b18 for keeplng adequate acuJuntlng records Ihal 8re $ufflclent lo show snd expl8ln the Charftys transactions and dlsclose with Teasonable accuracy at any time the financial Fosition of the Charity and enable them to ensure that the financlal statèments comply wllh the Ch8rftles Act 2011. th8 Charlty (Aco)unts and Reports) Regulations 2008 and tho provision$ of th& Trust deed. They are 81so responsib18 for safeguarding the assets of tho Charlty and henco for taklng reasonable steps for the prevenllon and de18Ctlon of fraud and other lThegularfttes. Approved by order of the memb8r8 of tha board Trusts88 and slgned on thelr behalf ty. 50 on Dr Davld Llttle Pag8 4

THINKAQUA

INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022

Independent Examiner's Report to the Trustees of ThinkAqua ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 31 December 2022.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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THINKAQUA

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022

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. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Toby Webber ACA

Harris & Trotter LLP 101 New Cavendish Street 1st Floor South London W1W 6XH Dated: 30 September 2023

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THINKAQUA

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2022

Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities: Project costs 6 Grants paid 5 Governance costs 8 Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward	Restricted funds 2022 £ 42,009 - 42,009 41,459 - - 41,459 550 550 550	Unrestricted funds 2022 £ 248,563 50 248,613 162,997 6,000 10,764 179,761 68,852 68,852 68,852	Total funds 2022 £ 290,572 50
			290,622
			204,456 6,000 10,764
			221,220
			69,402
			69,402
			69,402

The Statement of Financial Activities includes all gains and losses recognised in the period.

The notes on pages 9 to 16 form part of these financial statements.

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THINKAQUA BALANCE SHEET AS AT 31 DECEMBER 2022 2022 Currant assets Cash at bank and In hand 76,738 76,738 17,336) Cr8dltors: amounts falllng due within one year 12 N•t current assets 69,402 Total ass•ts1•88 currnnt Ilablllti 69,402 Nat ass•ts excludlng ￿Tr910n a$8ot 69,402 T¢)tal n•t as8•ts 69A02 Charlty funds Restricted funds Unr8strtcted funds 13 13 550 68,852 Total funds 69,402 The finandal stalements were approved and authorfsed for Issue by tho Tru8t888 on <tr-Lt 2 and signed on thelr beh8W by. Dr Davld Little The noles on pages 9 to 16 forn part ofthese Itnancial ststements. Page 8

THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

1. General information

ThinkAqua is a Charitable Incorporated Organisation registered with Charity Comission in England & Wales. Charity number 1195940. The registered office is 101 New Cavendish Street, London, W1W 6XH

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

ThinkAqua meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.3 Expenditure (continued)

Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.6 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.7 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.8 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the period.

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.9 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Donations Grants	Restricted funds 2022 Unrestricted funds 2022 £ £ - 25,621 42,009 222,942 42,009 248,563	Total funds 2022 £ 25,621 264,951
		290,572

4. Investment income

	Unrestricted	Total
	funds	funds
	2022	2022
	£	£
Interest receivable	50	50

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

5. Analysis of grants

Grants paid

Grants to	Total
Institutions	funds
2022	2022
£	£
6,000	6,000

6. Analysis of expenditure on charitable activities

Summary by fund type

Governance cost Other project expenses Staff wages and national insurance Travel, hotel and subsistence Legal and professional fees Pension expense Grants paid Contractors fees	Restricted funds 2022 Unrestricted funds 2022 £ £ - 10,764 - 16,071 24,000 58,902 2,661 13,011 - 8,510 - 3,567 - 6,000 14,798 62,936 41,459 179,761	Total 2022 £ 10,764 16,071 82,902 15,672 8,510 3,567 6,000 77,734
		221,220

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

7. Analysis of expenditure by activities

Governance cost Other project expenses Staff wages and national insurance Travel, hotel and subsistence Legal and professional fees Pension expense Grants paid Contractors fees	Activities undertaken directly 2022 £ - 16,071 82,902 15,672 8,510 3,567 - 77,734 204,456	Grant funding of activities 2022 £ - - - - - - 6,000 - 6,000	Governance 2022 £ 10,764 - - - - - - - 10,764	Total funds 2022 £ 10,764 16,071 82,902 15,672 8,510 3,567 6,000 77,734
				221,220

8. Governance costs

Unrestricted funds 2022 £ Staff wages and national insurance 10,044 Staff pension costs 492 Independent examiner fee 5,400 Foreign exchange gain (7,625) Insurance 1,507 Telephone and internet 661 Bank charges 285 10,764	Total funds 2022 £ 10,044 492 5,400 (7,625) 1,507 661 285
	10,764

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

9. Independent examiner's remuneration

	2022
	£
Fees payable to the Charity's independent examiner for the independent examination of
the Charity's annual accounts	5,400

10. Staff costs

Staff wages and salaries Staff national insurance costs Staff pension costs The average number of persons employed by the Charity during the period was as follows: Employees	2022 £ 90,000 2,946 4,059
	97,005
	2022 No. 2

One employee, the Chief Executive Officer has received gross remuneration of £80,000 during the period.

11. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits.

During the period ended 31 December 2022, no Trustee expenses have been incurred.

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

12. Creditors: Amounts falling due within one year

PAYE Accruals and deferred income	2022 £ 1,936 5,400
	7,336

13. Statement of funds Statement of funds - current period

Unrestricted funds General Funds - all funds Restricted funds Restricted Funds - all funds Total of funds Summary of funds Summary of funds - current period General funds Restricted funds	Income £ 248,613 42,009 290,622 Income £ 248,613 42,009 290,622	Expenditure £ (179,761) (41,459) (221,220) Expenditure £ (179,761) (41,459) (221,220)	Balance at 31 December 2022 £ 68,852
			550
			69,402
			Balance at 31 December 2022 £ 68,852 550
			69,402

14. Summary of funds Summary of funds - current period

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022

15. Analysis of net assets between funds

Analysis of net assets between funds - current period

Current assets Creditors due within one year Total	Restricted funds 2022 Unrestricted funds 2022 £ £ 550 76,188 - (7,336) 550 68,852	Total funds 2022 £ 76,738 (7,336) 69,402

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