2023-12-31-accounts

Charity number: 1195940

THINKAQUA

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

THINKAQUA

CONTENTS

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1
Trustees' Report	2 - 4
Independent Examiner's Report	5 - 7
Statement of Financial Activities	8
Balance Sheet	9
Notes to the Financial Statements	10 - 18

THINKAQUA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees	Dr David Little, Chair
	Henry Graham Hughes
	Richard Jones
	Aisla Jones
	Katherine Louise Prudden
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 YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the financial statements of the ThinkAqua for the 1 January 2023 to 31 December 2023.

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 1,900 people through interventions on farms and through capacity building;

(b) Improved the environmental, social and economic impact of 50,000 metric tons of fish and shrimp produced in Kenya, Uganda, Nepal and Indonesia;

(c) Increased the capacity and understanding of 45 partner organizations about effective approaches for increasing sustainable aquaculture.

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

Page 2

THINKAQUA

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance (continued)

b. Review of activities

The income for the Charity for the year under review was £211,146 (2022: £290,622) and the expenditure in the furtherance of the Charity's objectives were £236,838 (2022: £221,220).

The Charity's restricted reserve at the year end was £nil (2022: £550) and the unrestricted reserve was £43,710 (2022: £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 2023 was £35,608.

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

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 year ended 31 December 2023.

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.

Page 5

THINKAQUA

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Independent Examiner's Statement

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.

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

Page 6

THINKAQUA

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

101 New Cavendish Street 1st Floor South London W1W 6XH 30 July 2024

Page 7

THINKAQUA

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities: 6 Project costs Grants paid Governance costs Total expenditure Net income/(expenditure) Transfers between funds 14 Prior year reallocation of expenses Total transfers Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Restricted funds 2023 £ 30,000 - 30,000 19,376 - - 19,376 10,624 339 (11,513) (11,174) (550) 550 (550) -	Unrestricted funds 2023 £ 180,990 156 181,146 197,279 - 20,183 217,462 (36,316) (339) 11,513 11,174 (25,142) 68,852 (25,142) 43,710	Total funds 2023 £ 210,990 156 211,146 216,655 - 20,183 236,838 (25,692) - - - (25,692) 69,402 (25,692) 43,710	Total funds 2022 £ 290,572 50
				290,622
				204,456 6,000 10,764
				221,220
				69,402 - -
				-
				69,402
				- 69,402
				69,402

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

The notes on pages 10 to 18 form part of these financial statements.

Page 8

				2023		2022
	Note			E		t.
Current assets
Debtors	12	23,499
Cash at bank and in hand		35,S08			76,738
		59,107			v6,738
Creditors: amounts falling due within one
year	IJ	{15,397)			{7,s36}
Netcurrent assets				43,710		69,402
Total assets less currentliabilities				43,714		69,402
Netassets excluding pension asset				43,710		69.442
Totalnetassets				43,710		69,402
Charity funds
Restrictedfunds	14					550
Unrestrictedfunds	14			43,710		68,852
Totalfunds				43,714		69,402
			:

THINKAQUA

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

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.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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.

Page 10

THINKAQUA

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

2. Accounting policies (continued)

2.3 Expenditure (continued)

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

Grants payable are charged in the year 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 year 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 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.6 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.

2.7 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.

2.8 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.

Page 11

THINKAQUA

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

2. Accounting policies (continued)

2.9 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 year.

2.10 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 Total 2022	Restricted funds 2023 £ - 30,000 30,000 42,009	Unrestricted funds 2023 £ 60 180,930 180,990 248,563	Total funds 2023 £ 60 210,930 210,990 290,572	Total funds 2022 £ 25,621 264,951
				290,572

4. Investment income

Unrestricted funds 2023 £ Interest receivable 156 Total 2022 50	Total funds 2023 £ 156 50	Total funds 2022 £ 50

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THINKAQUA

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

5. Analysis of grants

Grants paid Total 2022	Grants to Institutions 2023 £ - 6,000	Total funds 2023 £ - 6,000	Total funds 2022 £ 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, professional and training fees Pension expense Grants paid Contractors fees Total 2022	Restricted funds 2023 £ - - 4,036 - - - - 15,340 19,376 41,459	Unrestricted funds 2023 £ 20,183 - 85,382 12,278 30 5,748 - 93,841 217,462 179,761	Total 2023 £ 20,183 - 89,418 12,278 30 5,748 - 109,181 236,838 221,220	Total 2022 £ 10,765 16,071 82,902 15,672 8,510 3,567 6,000 77,733
				221,220

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THINKAQUA

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

7. Analysis of expenditure by activities

Governance cost Other project expenses Staff wages and national insurance Travel, hotel and subsistence Legal, professional and training fees Pension expense Grants paid Contractors fees Total 2022	Activities undertaken directly 2023 £ - - 89,418 12,278 30 5,748 - 109,182 216,656 204,456	Grant funding of activities 2023 £ - - - - - - - - - 6,000	Governance 2023 £ 20,183 - - - - - - - 20,183 10,764	Total funds 2023 £ 20,183 - 89,418 12,278 30 5,748 - 109,182 236,838 221,220	Total funds 2022 £ 10,765 16,071 82,902 15,672 8,510 3,567 6,000 77,733
					221,220

8. Governance costs

Staff wages and national insurance Staff pension costs Independent examiner fee Foreign exchange loss Insurance Telephone and internet Bank charges	Unrestricted funds 2023 £ 10,613 482 5,400 1,431 1,155 493 609 20,183	Total funds 2023 £ 10,613 482 5,400 1,431 1,155 493 609 20,183	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 YEAR ENDED 31 DECEMBER 2023

9. Independent examiner's remuneration

	2023	2022
	£	£
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts	5,400	5,400

10. Staff costs

Staff wages and salaries Staff national insurance costs Staff pension costs	2023 £ 94,500 5,531 6,231 106,262	2022 £ 90,000 2,946 4,059
		97,005

The average number of persons employed by the Charity during the year was as follows:

	2023	2022
	No.	No.
Employees	2	2

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		2023	2022
		No.	No.
In the band £80,001	- £90,000	1	1

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 December 2023, no Trustee expenses have been incurred NIL) .

Page 15

THINKAQUA

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

12. Debtors

Due within one year Trade debtors Other debtors Creditors: Amounts falling due within one year Trade creditors PAYE Accruals and deferred income	2023 £ 23,139 360 23,499 2023 £ 7,856 2,141 5,400 15,397	2022 £ - -
		-
		2022 £ - 1,936 5,400
		7,336

13. Creditors: Amounts falling due within one year

Page 16

THINKAQUA

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

14. Statement of funds

Statement of funds - current year

					Balance at
	Balance at 1				31
	January			Transfers	December
	2023	Income	Expenditure	in/out	2023
	£	£	£	£	£
Unrestricted funds
General Funds - all funds	68,852	181,146	(217,462)	11,174	43,710
Restricted funds
Restricted Funds - all funds	550	30,000	(19,376)	(11,174)	-
Total of funds	69,402	211,146	(236,838)	-	43,710
Statement of funds - prior	year
					Balance at
					31
					December
			Income	Expenditure	2022
			£	£	£
Unrestricted funds
General Funds - all funds			248,613	(179,761)	68,852
Restricted funds
Restricted Funds - all funds			42,009	(41,459)	550
Total of funds			290,622	(221,220)	69,402

Page 17

THINKAQUA

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

15. Summary of funds

Summary of funds - current year

					Balance at
	Balance at 1				31
	January			Transfers	December
	2023	Income	Expenditure	in/out	2023
	£	£	£	£	£
General funds	68,852	181,146	(217,462)	11,174	43,710
Restricted funds	550	30,000	(19,376)	(11,174)	-
	69,402	211,146	(236,838)	-	43,710
Summary of funds - prior year
					Balance at
					31
					December
			Income	Expenditure	2022
			£	£	£
General funds			248,613	(179,761)	68,852
Restricted funds			42,009	(41,459)	550
			290,622	(221,220)	69,402

16. Analysis of net assets between funds Analysis of net assets between funds - current year

Unrestricted funds 2023 £ Current assets 59,107 Creditors due within one year (15,397) Total 43,710	Total funds 2023 £ 59,107 (15,397) 43,710

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