2025-12-31-accounts

Charity number: 1195940

THINKAQUA

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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 - 17

THINKAQUA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

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 United Kingdom W1W 6XH Independent examiner Toby Webber Harris & Trotter LLP Chartered Accountants 101 New Cavendish Street 1st Floor South London W1W 6XH Accountants 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 2025

The Trustees present their annual report together with the financial statements of the ThinkAqua for the 1 January 2025 to 31 December 2025.

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, Rwanda and Nepal to improve their productivity and reduce their environmental impact through implementing better practices and utilising technological solutions. 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 studies on the future of aquaculture development in partnership with other 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.

Page 2

THINKAQUA

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Achievements and performance

a. Main achievements of the Charity

Between January and December 2025, we directly supported over 1,000 smallholder farmers and SME supply chain actors through 75 partnerships in twelve countries. Through our training of trainers and the development of industry guidance, we have indirectly supported more than 3,000 farmers and supply chain actors. This has helped to improve the socioeconomic and environmental performance of more than 150,000 MT of fish and shrimp production in Asia, Africa, and Latin America.

This compares with 2024 numbers of farmers, but is a higher volume of production given that some of work this year has been more focused on strategic guidance for aquaculture sector improvement to ensure that smallholder farmers can benefit from the ever-growing opportunities.

The team have had the opportunity to work on numerous exciting projects in 2025, some of which continue in 2026. We have also secured funding more direct field work in 2026 and beyond.

b. Review of activities

The income for the Charity for the year under review was £362,442 (2024: £223,701) and the expenditure in the furtherance of the Charity's objectives were £365,591 (2024: £220,870).

The Charity's unrestricted reserve at the year end was £43,392 (2024: £46,541).

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 2025 was £10,350.

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.

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THINKAQUA TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Truslees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees lo prepare financial statement5 for each financial which gtve a true and fair view of the stale of affairs of the Charity and of its incoming reSoUr￿S and application of resources, including rts income and expenditure, for that period. In preparing these financial staterr¥enls. the Trustees are required lo= select suitable 8CCOUnting poliues 8nd then apply them consislentty., observe the methods and prillciples of the Charities SORP {FRS 1021., make judgments and accounting esb'mates that a￿ reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disdosed and explained in the financial statements., prepare the financial slalemenls on the going concem basis unless it is inappropriate to presume that the Charity will contsnue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Challws transactions and disclose with ieasonable accL*racy al any lime the financial position of the Charity and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the metnbers of the board of Trustees and signed on their behaN by.. Dr David Little Dale.. 02- Page 4

THINKAQUA

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

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 2025.

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 2025

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 YEAR ENDED 31 DECEMBER 2025

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 Date: 24th August 2026

Page 7

THINKAQUA

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities: 5 Project costs Governance costs Total expenditure Net (expenditure)/income 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	Unrestricted funds 2025 £ 362,305 137 362,442 344,542 21,049 365,591 (3,149) - - (3,149) 46,541 (3,149) 43,392	Total funds 2025 £ 362,305 137 362,442 344,542 21,049 365,591 (3,149) - - (3,149) 46,541 (3,149) 43,392	Total funds 2024 £ 223,570 131
			223,701
			195,792 25,078
			220,870
			2,831 -
			-
			2,831
			43,710 2,831
			46,541

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

The notes on pages 10 to 17 form part of these financial statements.

Page 8

THI NKAQUA

BALANCE SHEET AS AT 3 1 DECEM BER 2025

			2025		2024
	Note		£		£
Current assets
Debtors	1 1	84,709		-
Cash at bank and in hand		1 0,350		51, 941
		95,059		51, 94 1
Current liabilities
Creditors: amounts falling due within one
year	1 2	(51 ,667)		(5,400)
Net current assets			43,392		46, 54 1
Total assets less current l iabilities			43,392		46, 54 1
Total net assets			43,392		46, 54 1
Charity funds
Unrestricted funds	1 3		43,392		46, 54 1
Total funds			43,392		46, 54 1

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

The notes on pages 1 0 to 1 7 form part of these financial statements.

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

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.

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

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.

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.

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

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.

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 2024	Unrestricted funds 2025 £ - 362,305 362,305 223,570	Total funds 2025 £ - 362,305 362,305 223,570	Total funds 2024 £ 100 223,470 223,570

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

4. Investment income

Interest receivable Total 2024	Unrestricted funds 2025 £ 137 131	Total funds 2025 £ 137 131	Total funds 2024 £ 131

5. Analysis of expenditure on charitable activities

Summary by fund type

Governance cost Staff wages and national insurance Travel, hotel and subsistence Pension expense Project consultancy expenses Total 2024	Unrestricted funds 2025 £ 21,049 91,315 9,667 4,411 239,149 365,591 220,870	Total 2025 £ 21,049 91,315 9,667 4,411 239,149 365,591 220,870	Tota 2024 £ 25,078 68,830 2,773 3,528 120,661 220,870

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

6. Analysis of expenditure by activities

Governance cost Staff wages and national insurance Travel, hotel and subsistence Pension expense Project expenses Total 2024	Activities undertaken directly 2025 £ - 91,315 9,667 4,411 239,149 344,542 195,792	Governance 2025 £ 21,049 - - - - 21,049 25,078	Total funds 2025 £ 21,049 91,315 9,667 4,411 239,149 365,591 220,870	Total funds 2024 £ 25,078 68,830 2,773 3,528 120,661
				220,870

7. Governance costs

Staff wages and national insurance Staff pension costs Independent examiner fee Foreign exchange (gain) loss Insurance Telephone and internet Bank charges Advertising Expo and conference fees IT and Communication Expenses	Unrestricted funds 2025 £ 11,025 551 5,400 858 1,296 390 318 61 654 496 21,049	Total funds 2025 £ 11,025 551 5,400 858 1,296 390 318 61 654 496 21,049	Total funds 2024 £ 14,911 262 5,400 (68) 1,246 484 310 2,340 193 - 25,078

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

8. Independent examiner's remuneration

	2025	2024
	£	£
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts	5,400	5,400

9. Staff costs

Staff wages and salaries Staff national insurance costs Staff pension costs	2025 £ 99,225 3,115 4,962 107,302	2024 £ 80,851 2,890 3,790
		87,531

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

	2025	2024
	No.	No.
Employees	2	2

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

		2025	2024
		No.	No.
In the band £70,001	- £80,000	-	1
In the band £80,001	- £90,000	1	-

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL) .

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

11. Debtors

Due within one year Prepayments and accrued income	2025 £ 84,709 84,709	2024 £ -
		-

12. Creditors: Amounts falling due within one year

Other creditors Accruals and deferred income	2025 £ 42,000 9,667 51,667	2024 £ - 5,400
		5,400

13. Statement of funds Statement of funds - current year

Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds	Balance at 1 January 2025 £ 46,541 Balance at 1 January 2024 £ 43,710	Income £ 362,442 Income £ 223,701	Expenditure £ (365,591) Expenditure £ (220,870)	Balance at 31 December 2025 £ 43,392
				Balance at 31 December 2024 £ 46,541

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THINKAQUA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Summary of funds

Summary of funds - current year

General funds Summary of funds - prior year General funds	Balance at 1 January 2025 £ 46,541 Balance at 1 January 2024 £ 43,710	Income £ 362,442 Income £ 223,701	Expenditure £ (365,591) Expenditure £ (220,870)	Balance at 31 December 2025 £ 43,392
				Balance at 31 December 2024 £ 46,541

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

Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Current assets Creditors due within one year Total	Unrestricted funds 2025 £ 95,059 (51,667) 43,392 Unrestricted funds 2024 £ 51,941 (5,400) 46,541	Total funds 2025 £ 95,059 (51,667)
		43,392
		Total funds 2024 £ 51,941 (5,400)
		46,541

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