BIOLOGICAL
ASSOCIATION
The Freshwater Biological
Association
{A company Ilmlted by guarante81
Annual Report and Audited
Financial Statements
31 March 2025
Company registratlon number: 00263162
Charity registration number: 214440
dOdd&co
fy Investec

The Freshwater Biologlcal Association
Contents
Reference and Administrative Details
Trustees, report
Independent auditors, report (Co Acll
Stat6ment of financial activities
Balance sheet
13
Cash flow statement
14
Notes to the financial statemènt8
15

The Freshwater Biological Assoclatlon
Reference and Administrative Details
Charity name
The Freshwater Biological Association
Charity registratlon nujnber
214440
Companyregistration nurnber
00263162
Principal office
Species Recovery Centre
Far S2wrey
Ambleside
CUMBRIA
LA22 OLP
Réglstered office
Species Recovery Centre
Far Sawrey
Arnbleside
CUMBRIA
LA22 OLP
Auditor
Dodd & Co Audit Llmited
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA12RW
Accountant
Dodd & Co Limited
FIFTEEN Rosehi51
Montgomery Way
CARLISLE
CA12RW
Page 1

The Freshwater Biological Associatlon
Trustees, Report forthe Year Ended 31 March 2025
The members of the Board of the Freshwater Biological ASSOCIa￿On (the Association). acting as Directors of the
Associ81ion submit their Annu21 Report and audited Accounts for the year ended 31 st March 2025.
The financlal slataments have been prepared in accordance with the current Financial Reporting Standards in
use and The Statement of Recommencjed Praclioe for Charities (the SORPI. The Accounting Standards Board
recognises the SORP as baing in line wrth its Code of Praclice and the Freshwater Biological Association agrees
to follow these principles.
Trustees
The following were memb6rs of the Board during the year, appointed in accord8nce with the Artlcl8s of
Association.
P￿SIdent
Vacant
Chairman of Council
Chris Dessent
Honorary Treasurer
Vacant
Representslive Members
Royal Society Prof. K J Beven FRS
Elected Members
Dr PA Jackson- Appointed October 2021
Mr C Dessent- Appointed October 2022
Ms P Nolan- Appointed October 2022
Prof P Wood- Appointed March 2023
Mr G Sorby- Appointed 11 October 2024
Directors
The malorfty of the members of the Board of Directors are nominated by either the Board or the general
mernbership are proposed for election at the AGM. These appointments ar& for four years but can be
reappointed lo serve a consecutive term after which they must ￿ase lo be a Director for al least 12 months
before they are eligible for re8ppoinlmenl. A further Director is nominated by The Royal Society. A review of
Dire¢lors' skills is periodically undertaken and this is used lo infomi the nominatlon process for prospe¢live
Directors.
Board members are periodlc8lly appointed via an open recruitment process. This involves submission of
expressions of interest, informal chat and initial screening and formal interview wlh the Executive Director, Chair
and represenlats'ves from the exislino board.
Once appointed new trustees are invited to an induction day to meet staff, visit facilities and be briefed on
govemance and Iheir resptsnsibilities.
Trustees are encouraged lo support the strategic direction of FBA by attending various working groups such as
finance. strategy and programme development.
The Association is currently reviewing its Articles of Association with Muckle LLP lo ensure that our govemance
structures are appropriate in terms of legal ￿mpliance and the requirements of the Charlly Commission.
Page 2

The Freshwater Blological Association
Trustees. Report for the Year Ended 31 March 2025
At the forth coming Annual General Meeting lo be held on Monday 3rd November 2025 Kellh Beven will step
down as the Royal Society representative. We understand that they wll not be pulling forward a new nominee.
The posltlon of Treasurer remains vacant.
Status
The Association is a Cornpany Limited by Guarantee Iregislered numbar 2631621 and a registered Charity
{regislered number 2144401. The Board of Directors has no interests in the Association as defined by the
Companies Act 2006 and receive no remuneration for their services to the Association. The Association's
Eirectors do receive reimbursement of travel and subsistence costs necessarily incurred in the performance of
their duties. The liability of the M8mbers Is laid out in clause 9 of the Articles of Associatlon and limits the liability
of the members to £10 each.
The Dirertors of the Association meet Iwice yearly for a formal Board Maets'ng and again midt8mi to concentrate
on a particular aspect of the Gharilies work lo discuss and remew the strategic direction of the Association., the
operational activities of the Association are fully delagated to the Executive Director. A sub-committee of the
Board, the Finance Committee, has delegated strategic responsibilities and rneels on 8 ￿gUlar basis to re￿1ve
reports on activities from Simon Johnson the Executive Director. and Lesley H2dwin tha Business Mat)ager. The
lerms of reference for the Finance Committee are reviewed periodically by the Board of Directors. The delegation
of authority lo the Execullve Director is also fftvlewed by the Board of Dlreclors.
Objectives of the Charity
The objects of the Associ21ion, as defined by its Memorandum, are to promote the understsnding and the
investigation of the biology lin the widest interpretation of the word) of the animals and plants and other
organisms found in fresh lincluding brackish) vraters, and to promola the sound and sustsinable managemenl of
freshwater ecosystems and resources. The current strategic objectives are..
. lo uriden active membership.,
. lo prowde evidence and information.,
to Influence and broaden advocacy., and
lo facilitate the setting of the research agenda.
Remuneration
FBA staff salaries are set in accordan￿ with direclly comparable or similar roles wlhin the sector.
The board consider an annual pay award recommendation submilled by the FBA Finance Working Group and
Executive Director. Decisions are based around factors such as financial stability I sustainability and the
performance of the charity in the year preceding the award. Award decisions ara voted on at October ixjard
meetings for implementation in the nèw financial year (March).
From time lo lime. where staff take on new pem)anent I temporary responsibilities or change roles, discretionary
uplifts in salary are awarded to reflect these changes in circumstances. Where possible, the costs of such
increases are recovered via funders, grants, etG.
Review of Activitiés
The Association continues lo deliver on tha work packages and objectives in our Growth Plan. Annual Red.
Amber Green IRAGI ovalualion of the plan found that overall the 23 work packages were at the following status
x19 Green {830hl, x4 Amber117 % ). XO Red lo°hl-
Given this consid8rabl8 level of success, FBA will be developing a new 5 year organisational plan that will go
beyond our centenary in 2029.
In terms of our three strategic priorities th8 following progress is reported.
Page 3

Thè Freshwaler Biological Association
Trustees. Report for the Year Ended 31 March 2025
Operational reslllenc8
The Finance Working Group IFWGI continues to maintain oversight of the '/4 management accounts which is
supported by Dodd and Co accountants. FWG escalates any issues lo the board should the need arise.
The focus of the Growth PlaN, strong governance and hard work of the team at FBA has enabled the Association
lo move Into a sustained period of posting operational surpluses. This Is a considerablg achlevemenl given the
current economic operating environment charilies are having to operate in. We also will be recruiting a Finance
Director lo support the senior leadership team and board to develop our financial business planning and strategy.
A recruitment process will be undertaken lo replace retiring members of the board in 2025 to maintain a
membership of 7.
FBA wll b8 moving lo new offioe5 in 2025 due to the sale of the site we currently OCGUPY on a tenancy.
Freshwater Science
Our Species Recovery work continues lo deliver exemplary conservation outcomes for the Freshwater Pearl
Mussel in England and Wales, Through thls project FBA continues lo malntain and grow high impact partnership
working and acts'on focused science. This has enabled the commencement of a new proj8Ct which wll focus on
the management and conservation of Arctic Charr including the hosb'ng of an Arctic charr symposium in the
Autumn of 2025.
Citizen soence programmes continue lo deliver hlgh impact outcomes wth FBA, coordinating the activities of
hundreds of volunteer scientists who are interested in the ecological health of rivers and lakes. The Rivertly
programme is expandlng al pace and now has volunteer monitors on over 700 rlvers in the UK. The Big
Windermere Survey has now delivered 10 surveys using 350 Citizen scientists. It is the largest temporal and
spatial water quality survey tsf its typ6 in the United Kingdom. FBA will be reporting on the data and evidence
gained through the project over its 10 surveys al 100 slles over 2.5 years, in Summer 2025.
Training and Advocacy
FBA delivers highly respected training courses for professional and citizen scientists. In 2025 we will be
developing training partnerships with academic. private sector and academic partners lo expand our portfolio of
courses. Feedback from course delegates is consistently high.
FBA has invested in ils communications and advocacy work with the appoinlrnent of a new digital conlenl
creator. This has 8nabled the Association to provide regular and engaging content updates on our website and
monthly newsletter 'FBA Volce, Our social media actiwty Is coordinated with w&b and new51etter content lo
maximize the reach of our communications activities.
Flnancial Review
There was an overall operating surplus before investment gainsllosses of £112,784 ￿mpared with a surplus of
£41,857 for the previous year. However, an unrealised loss in investments results in an overall deficil of £59,751
compared to a surplus of £130,935 in the prior year. The performance in 202412025 reflectsd an increase in costs
for the running of Mitchell Whyke Bay arising out of tha sale of the Pearsall Building to Mikhail Holdings who
refused lo share any of the costs of running the Biomass boiler. Results were also reflecllve of a small incraase in
investment property income from £154,756 to £160,613 despite seeing a drop in demand and occupancy rates
as was seen throughout the Lakes. Last years In-year surplus also included the release of the provislon of the
USS pension valuation net income of £90,142, this remains in an assel position this year. Total income for 2025
was £1.066,46512024 - £1,000,493) and expenditure £953.70112024 - £958,636).
Page 4

The Freshwater Biologlcal Assoc(ation
Trustees. Report for the Year Ended 31 March 2025
Significant long-term investment sssels are held by the Association which are not readily avallable as free
reserves. Investment assèts of £2,796,114 12024.. £2,980,979) are held by the Association lo generate both a
short-term annual return through rental Income, dividends and interesl and a longer-lerm capital appreciation.
The annual investment return of between £180,000 and £200,000 (see note 5 to the accounts) provides crucial
unrestricted cash contributions towards the Association's core costs. allowing it lo focus more of the funding
re￿IVed directly lo specifi¢ project use in line with its objeclivos. Total investments are represented by
£1.380,000 investments properties 12024: £1,567,886) and quoted share investments of £1,416,114 12024..
£1,413,113), which includes £10,453 held as cash not yel invested in specific share schemes (see note 12 of the
accounts). The Trustees deemed il appropriate to designate £2.796,114 of funds in proportion to the investments
held to ring-fence those funds held for the reasons stated above.
Flnancial Resenies PoliGy
The purpose of the Association'5 reserves is to provide sufficient protection against changing financial
circumstances and to maintain its long-term viability in order lo promote its princip81 charitable objecuves. The
level of resetves, as reflected in the Unrestricted General Fund Account of £310,531 12024 £180,417). is
represented by tangible assets, nel current assets and a liquid investment asset reserve. The remaining
unrestricted designated funds of £9,344 12024: £14,344) are made up entirely of Cash at Bank and in Hand.
These reserves are considered sufficient for the Association lo meet its short to madium term expenditure
obligations.
Investmant Policy
The Association's investments are detailed in Note 12 to the Financial Statements. The Directors 2pproved an
Investment Policy in De¢ember 2005, which provides the framework for tha complete investment portfolio of the
Association. This was updated during the 202312024 year to remove any association with fossil fuels. The policy
stales that the portfollo should be structured lo provide a balanced return between income and capital growih,
whilst being sufficiently diversified lo spread risk. The Directors ensure that any investments held reflect the
ethical considerations of the Association and that no inveslment shall be held that is conlrsry to its objectives.
Investments
Held at market value of £1,416,114 per the Ma￿h 2025 accounis.
As slated in the investment policy in tha accounts. these funds are held for both a short-lem funding source and
longer-tem capital growth. In accorcJ8nce wlh charity guidance, the investments are held within portfolio's that
offer the best retum for charity funds as well as those that match the objectlves and ethical stance of the charity.
The investments again provide a source of income lo contribute the charity's core costs each year as well as
being able to be drawn down against the anticipated futuro growth of the Investment portfolio. The future growth
cannot, however, be relied upon year on year and will only be drawn down on when deemed advantageous lo
maximise the charity's relum tsn funds and when there's a specific need for the charity.
All investments are held for lollger-tÈmi goals and to liquidate them would only 8ssisI in the short-term cost
contribullon but ultimately create more challenges surrounding the long-term viability of the charity and its
operations.
Plans for Future Periods
11 remains a continuing project to update and refine the original FBA growth slrat&gy, which is led by Simon
Johnson and his senior management team in conjunction wth the Board of Directors. A new 12026-20311 year
corporate plan is in developmanl. Reference has been made to the significant progress alraady achieved in
forging stralesic partnerships with other like-minded businesses and this is still a rnajor focus for the team. The
objective of maintaining a small profit has been achieved and this conlinulng trend of achievlng profitabilty
remains the financial objective going forwards.
Page S

Tho Freshwater Biological Association
Trustees. Report for the Year Ended 31 March 2025
Capital investment in the holiday lets planned for 202412025 was undertaken and the hollday lets at Mitchell
Whyke Bay are now 88lf-sufficient lor both heat and water. Using much of the existing infrastructure, mini boilers
have been installed in each of the holiday units running on green electricity. The addition of a bore hole on the
land opposite the jetty maans that our water supply is secure. It was also necessary lo make significant repairs to
the balconies of the single bedrDom holiday units as the existing structure had become rotten and unsafe.
Unfortunately. the existing jety is beyond economic repair. Planning pemiission is being sought to build a like for
like repla￿Ment.
Our current landlords al the Hedley Wing continue lo manage the propety from a distsnce.
Fund Ralslng Standards
No fund raising activity ha5 been undertaken on behalf of the FBA by external partles.
Risk Management
The Directors rewewed the risks to which the Association is exposed. Changes were updated in the Association's
Corporate Risk Register. This document, approved by the Board of Directors, is reviewed annually by the Board
of Directors as part of ils governance arrangements.
Public 8enefit Test
Under the lems of Tho Charities Act 2011, the Directors have a sL91utory duty to report on the Association's
Complian￿ wlh the Public Benefit Test. The Directors consider th81 the aims and objectives of the Associabon
are able to deliver a public benefit and have given due r8g8rd to that fact.
The trustees (who are 8180 dlreclors of The Freshwater Biological Association for the purposes of company18wI
are responsible for preparing Ihe Trustees, Annual Report and the financial sl8lements in accordance wth
applicable law and the Financial Reporting Slandard 102 - The Financial Reporting Standard applicable in the
UK and Republic of Ireland,.
Statement of Trusteos. Responsibilities
Company law requires the trustees to prepare Financial Statements for each financial year which give a true and
fair view of the slate of 8ffalrs of the charitable company and of the incoming resources and application of
resources, including income and expenditure. of the charitable company for that period. In preparing these
financial statements, the trustee8 8re required to..
"select suitable accounting policiès and apply them consistently..
"observe the methods and principlss in the Charities SORP.,
•make judgements and estimates that are reasonable and prudent. and
state whether applicable UK a￿ountIng standards have been followed. subj8cI to any material departures
disclosed and explained in the financial statements- and
'prepare the financial statements on the going concem basis unless it 18 inappropriate to assume that the
charitable company continue its aclivilies.
The trustees are responsible for keeping proper accounting records thich disclose with reasonable accuracy al
any tim8 the ffnanclal position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble
company and hence for taking reastsnable steps for the prevention and delectlon of fraud and other irregularltles.
In accordance wlh company12w, as the Trustees of the Association, we confirm that,.
.So far as we are aware, there is no relevant audit information of which the Association's audilors are unaware
'.and
.We have tsken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit
Information and lo establish that the Association's auditors are awara of that infomation.
Page 6

The Freshwater Biological Association
Trustees. Report for the Year Ended 31 March 2025
The Trustees are responsible for the maintenance and integrity of the corporate and financial infomiation
included on the charitable Gornpany's website. Legislation in the United Kingdom governing the preparation and
dissemination of financlal statements may differ from legislation in other jurisdictions.
Small company provisions
This report has been prepared in accordan￿ with the small companies regime under the Companies Act 2006.
Approved by the Board on 3 N
er 2025 and signed on ils behalf by..
C S Dessenl
Trustee
Page 7

Independent Auditors, Report to the Members of
The Freshwater Biological Assoclation
Oplnlan
We have audited the ff nanclal slalemenls of The Freshwater 8iological Association for the year ended 31 March
2025 which comprise the primary statements such as the Ststement of Financial A¢livilies including Income and
Expenditure Account and Statement of Totsl Recognised Gains and Losses, the Balance Sheet, Cash Flow
Stslement and the related notes. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards. in¢luding FRS 102 'The Financial Reporting Stsndard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice),.
In our opinion the financial $12temenls-.
give a true 2nd f2ir view of the stale of the charitable companls affairs at 31 March 2025 8nd of its incoming
resources and application of resources,. including its inGome and expenditure, for the year then ended.,
have been properly prepared in accordan￿ with United Kingdom Generdlly Accepted Accounting Practice-
and
have been prepared In accordance wilh the requirements of the Companies Act 2006.
Basi5 for opinion
We conducted our audit in accordance with Inlemalional Siandards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those slandar(Js are further described in the Auditor's responsibilities for the audit
of the financial statements S8¢tion of our report. We are independent of the cherilable company in acGordance
with the ethical requirements that are relevant lo our audit of the financial slalements in the UK, including the
FRC'S Ethical Standard, and we hav8 fulfilled our other ethical responsibilities in accordance with these
requirements. We beliave that the audit evidence we have obtained is sufficient and appropriate lo provide a
basis for our opinion.
Conclusions relating to golng concern
In auditing the financial stalemenls, we have con¢lud8d that the trustees. use of Ihg going concern basis of
accounting in the preparation of Ihe financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubl on the charitable company's ability to
ontinue as a going concarn for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other informatlon
The other information comprises the information includod in the Iruslees annual report, other than the financial
statements and our auditor's report thereon. The Irustees are responsible for the other information contained
within the annual report. Our opinion on the financial statemellls doe% not cover the other information and, ex￿p1
lo the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion
Ihereon.
Our responsibility is to read the other information and, in doing so. consider whether the other information is
materially inconsistent with the financial statements or our knowtedge obtained in the course of the audit or
otherwise appears lo be materially misstated. If we identtfy Such material inconsistencies or apparent material
misstatements. we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misslatemenl of this other information, we are required to report that f8cI.
We have nothing to report in this regard.
Page 8

Independent Audltors. Report to the Members of
The Freshwater Biological Assoclation
. continued
Opinions on other mattgrs prescribed bythe Companies Act 2006
In our apinion, based on the work undertaken in the course of the audit..
the information glven in the trustees, report lincorporating the directors, report) for the financial year for which
the financial statements are prepared is Gonsistenl wth the financial slatemenls,. and
the iruslees, report has been prepared in accordance ufjth applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge 2nd understanding of the charitable company and its environment obtsined in the
course of the audit. we have not identified material misstalements in the trustees, report.
We have nothing to report In respect of the followng matters in relatlon to which the Companies Ath 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept. or returns adequate for our audit have not been received
from branches not visited by us,. or
the ffnancial statements are not in agreement wth the accounting records and returns.. or
we have not received all the information and explanations we require for our audit., or
certain disclosures of trustees, remuneration specified by law are not made.
Responslbllltias of the trustees
As explained rn0￿ fully In the Trustees. Responsibilities Statement set out on page 5, the trustees (who are also
the directors of th8 charitsble cornpany for the purposes of company lawl are responslble for the preparation of
the financial slalements and for being satisfied that they give a true and fair view, and for such internal controls
as they determine is necassary lo enable tha preparation of financial statements that are free from material
misstalement, whether due lo fraud or error.
In preparing the financial ststemenls, the trustees are responsible for assessing the charitsble company's ability
lo continue as a going concern, discloslng, as applicable, matters related lo golng concern and using the going
concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilitles for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and lo issue an auditor's report that includes our
opinion. Reasonable 8ssur8nc6 is a high level of assurance but is not a guarantee that an audit conducted in
accordance wth ISAS IUKI will always detect a material misstatement when il exists. Misstatements can arise
from fraud or error and are considered material If. individually or In the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial slalements.
Irregul8ri1ies, including fraud, are instsnces of non-compliance wth laws and regulations. We design prwedures
in line wth our responsibilities, outlined above, lo detect material misslatemenls in respect of irregularities.
including fraud. The sp8cifiG procedures for this engagement and the extent to Mthich these are capable of
detecting irwularities, including fraud is detailed below.
Page 9

Independent Audltors. Report to the Members of
The Freshwater Biological Association
continued
the nature of the industry and sector. control environment and charivs performance,.
results of our enqulrtas of management about their own Idenlifi¢ation and assessment of the risks of
irregularities.,
any matters we identlfled having obtained and reviewed the charlws documentation of their..
pollcies and procedures relating to..
ident[￿n9. evaluating and complying with laws and regulations and whether they are aware of any InStan￿S of
non-complian￿.,
detecting and responding lo the risks of fraud and whether they have knowledge of any actual, suspected or
alleged fraud.,
. the intemal controls eslablish8d lo miligale risks of fraud or non-compliance vAth laws and regulations.,
The matters discussed among the audit team regarding how and where fraud might occur in the financial
statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and in￿ntiveS that may exist within the
organlsation for fraud and identified the greatest potential for fraud to be in ￿latIon to revenue recognition and
management override which, in common wlh all audits under ISAS IUKI, we are required lo perform specific
procedures to respond lo this risk.
We also obtained an understanding of the 5egal and regulatory frameworf< that the charity operates in, focusing
on provisions of thos& laws and regLJlations that had a dlrect effect on the determlnalion of material amounts and
disclosures in the financial slalements. The kay laws and regulations we Gonsiderad in this context was the
Companies Act, Charities Act, pension legislation, employment18W, tax18gislation and relevant health and safety
laws.
As a resu￿ of performing the above, in response to the risks idenlified. we did not Identify any key audit matters
related to the potential risk ol fraud or non-¢ompliance ￿rith laws and regulations. In addition lo the above. our
procedures to respond to risks idenlifled Included th& following=
revlewlng tha financial stslernent disclosures and testing lo supporting documentation to assess compllance
with provisions of relevant laws and regulations described as having a direct effect on the financial ststements.,
enquiring of management concerning actual and potential litigation and claims.,
perfomiing analyUGal procedur9S to identify any unusual or unexpected relalion5hlps that may indicate risks of
material misstatement dua lo fraud.
• reading minutes of meetings of those charged wlh govemance, and
in addressing the risk of fraud through management override of controls, testing the approprialenes5 of journal
entries and other adjustments,. assessing whether the judgements made in making 2ccounling estimates are
Indicallve of a potential bias,. 8nd evaluating the business rationale of any significant transactions that 8re
unusual or outside the normal course of the charity's work.
We also comrnunicaled relevant identified laws and regulations and potential fraud risks to all engagement team
members and ￿mained alert to Sny Indlcations of frdud or nonpcompliance with laws and regulations throughout
the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Counul's website at: W4¥W.frc.org.uklauditorsresponsibililies. This description forms part of our
auditor's report.
Page 10

Independent Auditors, Report to the Members of
The Freshwater Biologlcal Association
. Gonlinued
Use of our report
This report is made solely to the charitsble companys members. as a body. in accordance wlh Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitable
compan¥s members those matters we are required to slate lo them in an audilo¢s report and for no other
purpose. To the fullest extent permitted by law. we do not accept or assume responsibillly to anyone other than
the charitsble c4)mpany and ils members as a body. for our audit work, for this report, or for the opinions we have
formed.
FIFfEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW
Faye Armstrong (Senior Statutory Auditor)
For and on behalf of Dodd & Co Limited, Statutory
Auditor
D￿d & Co Audit Limited is eligible lo act as an auditor in terms of section 1212 of the Companies Act 2006
P8ge11

The Freshwater Biological Association
Statement of Financial Activities (including Income and Expenditure Account and Statement
of Total Recognised Gains and Losses) for the Year Ended 31 March 2025
Unrestrlctèd Designated Restrlcted Total Funds Totsl Funds
Funds
Funds
Funds
2025
2024
Note
Income
Donations and legacies
Other trading activities
Investments
179.578
47,656
227,234
678
11.429
678
1,788
192,257
795,019
1,000.493
196,235
196,235
642,318
1.066,465
Charitable actimties
642,318
1,018,809
Total income
47,656
Expendlture
Raising funds
Charitable activities
107,546
798,499
906,045
107.546
846,155
953.701
109.584
849.052
958.636
47,656
Total expenditure
47,656
Nel gainsjllossesl on Investments
1172.5151
1172.5151
89,078
Net incom81expenditure
159,7511
(59,751)
130.935
Transfers between funds
189,865
1189,865)
Nel movement in funds
130,114
1189,8651
159.7511
130,935
Reconclliation of funds
Total funds brought fopNard
Total funds carried fotward
180.417
3,285,323
3.095,458
3,465,740
3.405,989
3,334.805
310.531
3,465,740
All of the Charity's acllvilies deriv8 from continuing operations durlng the above periods.
l income and expenditure in the prior year related lo unrestricted funds.
The notes on pages 1 $10 28 form an integr81 part of these financial statements.
Page 12

The Freshwater Biological Association
Company registration number: 00263q62
Balance Sheet as at 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
Inv8slments
11
12
256.487
2.796,114
3,051.601
228,597
2,980,979
3,209,576
Current assets
Debtors
Cash at bank and in hand
13
116,775
349.409
466.184
148,367
207,667
356,034
Creditors: Amounts falling due withln
one year
14
1111,7961
199,8701
Net current assets
354,388
256.164
Net assets
3,405,989
3,465,740
The funds of the charity..
Re$tricted funds
Deslgnatéd funds
Unrestricted funds
Unrestricted income Mnds
3,095,458
3,285,323
310,531
180,417
Total charity funds
These accounts have been prepared in a¢cnrdance with the provisions applicable to companies subject to the
small companies regime within Part 15 of the Companies Act 21106.
3,405,989
3,465.740
Approved by the Board on 3 November 2025 and signed on its behalf by:
C S Dessent
Trustee
The notes on pages 15 to 28 form an integral part of these financial statements.
Page 13

The Freshwater Biological Association
Cash Flow Statement for the Year Ended 31 March 2025
2025
2024
Net cash provlded by (used by) operating activities
Net lexpenditurellincorne for the period
Depreciation charges
lossesllgainsl on investments
DI￿dendS. interest and rents from investments
Decrease in debtors
Incre8sel{decreasel in Greditars
Decraase in provisions
159,7511
16,900
168,223
{35,5321
31,592
11,926
130,935
16,898
175,1681
137,5011
59.144
{110,9681
190,1421
1106,802)
133,358
Net cash provlded by lused inl investing actlvltles
Dividends, interest and rents fmm investments
Purchase of property, plant and equipment
Proceeds from sale of investm&nls
Purchase of investments
35,532
143,7901
160.298
1143.6561
8,384
37,501
12.792)
430,623
1433,4371
32,095
Inerea8el{decreasel in cash
141,742
{74,7071
The notes on pages 15 10 28 form an integral part of these financial statements.
Page 14

The Freshwater Biological Assoclatlon
Notes to the Financial Statements for the Year Ended 31 March 2025
Status
The Association is a Company incorporated in England Imthin the UK Limited by Guarantee and not having
a Share Capital. The liability of the Members who constitute the Association is limited to £10 per Member.
An elected Board of Directors who Gonstitute honorary directors of the A550cialion for Companies Act
purposes man2ge5 the affairs of the Association. Details of the Board Members are given in the Directors.
Report. The address of the registered office is Species Recovery Cenlre. Far Sawrey, Ambleside. Cumbria.
LA22 OLP.
Accounting pollcies
Summary of signiflcant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial slaternents are set out below.
These policie8 hav8 been consislenlly applied lo all the years presented. unless otherwise staled.
Statemgnl of compliance
The financial statements have been prepared in accordance with Accounting and Reporling by Charities=
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January
2019)- Icharities SORP IFRS 10211, the Financial Repo￿ng Standard applicablo in the UK and Republic of
Ireland IFRS 1021 and the Companies Act 2006.
Basls of preparation
The charitsble company maels the definition of a public benefit enliiy under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise slated in the relevant
accounting policy notes.
The charstable company's functional and presentation currency is sterling rounded to the nearest pound.
Going concern
These financial slalements have been prepared on a going concern basis. as the trustees believe that no
rnaterial uncertainties exist.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material
uncertainties related to events or conditions that may cast significant doubl on the ability of the Charity to
Continue as a going concern. The trustees make this assessment in respect of a period of one year from the
date of approval of the financial statements.
Fund accountlng policy
Unrestricted income funds are general fund5 that are available for use at th8 Iruslees, discretion in
furtheran￿ of the objectives of the charity.
Designated funds are unrestrict8d funds set aside at the discretion of the IDJstees for specrfic purposes.
Further details of eaGh fund are disclosed in note 19.
Page 15

The Freshwater Biological Association
Notes to the Flnancial Slatements for the Year Ended 31 March 2025
. continued
Income and endowments
Donalions arts recognised when the Charity has been notifled in writing of both the amount and settlement
d8te. In Ihe event that a donation is subject to conditions that require a level of perfomance by the Charity
before the Charity is entitled lo the funds. the income is deferred and not recognised until either those
conditions are fully mel, or the fulfilment of those conditions is wholly within the control of the Charity and il
is probable that these conditiong ￿11 be fuffilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the
administorlexeculor for the estate has communicated in writing both the amount and settlement date. In tha
event that the gift is in the form of an assel other than cash or a financial asset traded on a recognised stock
exchange. recognition is subject lo the value of the gift being reliably measured wth a degree of reasonable
auuracy and the title to the asset having been transferred lo the Charty.
Income from Government and other grants. whether 'capital' grants or 'revenue' grants. is recognised when
the charity has entitlement to the funds, any performance Conditions attached to the grants have been met,
il is probable that thè income will be received and the amount can be measured reliably and is not deferred.
Deferred income represents amounts received for future periods and is released to incoming resources in
the period for which, it has been re￿ived. Such incorne is only deferred when..
The donor specifies that the donation musl only be used in future accounting periods,. or
- The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Inveslmenl inwme is recognised on a receivable basis.
Income from charitable activities includes Income recognised as eamed las the related goods or services
are provided) under contract.
Expanditure
Liabilities are rectsgnised as soon as there is a legal or constructive obligation committing the charity to the
expenditure. All exptsndilure is accounted for on an accruals basis and has been classified under headings
th81 aggregate all costs related to the category.
Costs of generating funds are the costs of trading for fundraising purposgs.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitles and
services for ils beneficiaries. It includes both costs that be allo¢ated directly to such acliiilies and those
costs of an indirect nature nacessary lo support them.
Support costs
Support costs Include central functions and have been allocated lo activity cost Gategories on a basis
consistent with the use of resources. for example, allocating propety costs by floor areas, or per capits.
staff costs by the time spent and other costs by their usage.
Irrecoverable VAT
Irrecoverable VAT is charged 8gainsl the category of resources expended for which il was incurred.
Taxation
The Charity is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the
Charity is potentially exempt from taxation in respect of income or ¢apitsl gains recelved within categories
covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992. to the extent that such income or gains are applled exclusively lo charitable purposes.
Page 16

The Freshwater Biological Association
Notes to the Financial Statements for the Year Ended 31 March 2025
conlinued
Fixed assets
Individual fixed assets costing £1.000 or more are inlt1811y recorded at cost.
Depreciation
Depreaation is provided on tangible fixed assets so as lo write off the cost or valuation, less any eslimaled
residual value, over their expected useful economic life as follows:
Freehold land and buildings
50 years straight line basis
Leasehold improvements
5 years slraighl line basis
Scientific equipment
10 years straight line basis
Computer & other equipment
4 years slraighi line basis
Depreciation is charged on the buildings element only, which reprasents approximately 60ah of the total
value of this class of tangible assets.
Investments
Investments are a form of basic financial instrument and are inilialty recognised at their transaclion value
and subsequently measure at their fair value as at the balance sheet date using the closing quoled market
price. Th8 statement of financial activities includes the net gains and losses arising on revaluation and
disposals throughout the year.
The Association does not acquire put options, derivatives or other complex financial instruments.
The maln form of financial risk faced by the Association is that of volalilily in equity markets and investments
markels due lo wider economic conditions. the altitude of investors to investment risk. and changes in
sentiment Concernlng equities and wthin particular sectors or sub seclors.
All gains and losses are taken lo the Statement of Financial Aclimlies as they arise. Realised gains and
losses on Investments are calculated a8 the difference between sales proceeds and their opening Carrying
value or their purchase value rf acquired after the first day of the financial year. Unrealised gains and losses
are calculated as the dlfference between the fair value al the year and and their carying value, realised and
unrealised investment gains and losses are combined in the Statement of Financial Aclivilies.
Trade Debtors
Trade debtors are amounts due from Customers for merchandise sold or services performed in the ordinary
course of businass. Trade debtors are rtscognised initlally at the transaction pri￿. Thay are subsequently
measured at amortised cost using the effective interest method, lèss provision for impairment. A provision
for the impaimient of tra(Se debtors is established when there 15 objective evidence that the Charity will not
be able to collect all amounts due according lo the original teTms of the receivables.
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits. and other short-tem) highly liquid
investments that are readily convertible lo a known amount of cash and are subject to an Insignificant risk of
change in value.
Liabilities
Trade creditors are obligations to pay for goods or serwces that have been acquired in the ordirlary course
of business from suppliers. Accounts payable are classified as Current Ilabilities if the Charity does not have
an unconditional right, al the end of the reporting period. lo defer selllemenl of the creditor for al least
Iwelve months after the reporting dale. If there is an uncondltional right to defer settlement for at least
iwelve months after the reporting date, they are presented as non-current li8bililies.
Trade creditors are recognised initially al the transaction price and subsequently measured at amortised
cost using the effective interest method.
Page 17

The Freshwater Biologlcal Association
Notes to the Flnancial Statements foT the Year Ended 31 March 2025
continued
Operating leases
Leases In which substsnlially all the risks and rewards of ownership are retained by the lessor are classified
as operating leases. Rentals payable under operating leases are charged in the Statement of Financial
Acliwties on a straight line basis over the lease lem.
Penslons
The Association partlcipates in the Universities Superannuation Scheme. The assets of the scheme are
held in a Separate Iruslee-administered fund. Because of the mutual nature of the scheme, the assets are
not attributed lo individual institutions and a schame-wide contribution rate is sel. The Association is
therefore exposed to actuari81 risks associated with the other inslilulions, employees and is unable lo
identify ils share of the undedying assets and liabillties of the scheme on a consistent and reasonable basis.
As required by Section 28 of FRS102 Employee Benefits, the Association Iherefore aGGounts for the
scheme as if il were a defined contribution scheme. As a result, the amount charged to the profil and loss
account represents the contributions payable to the scheme and the deficit recovery contributions payable
under the scheme's Recovery Plan.
Where a scheme valuation determines that the scheme is in deficit on a le¢hnical PTovisions basis las was
the case followng the 2020 valuation). the Iruslee of the scheme musl agree a Recovery Plan that
detemines how each employer wlhin the scheme will fund an overall deficil. The Association recognises a
liability for the Contributions payable that arise from such an agreement {to extent that they relate to a
deficit) with related expenses belng re¢ognised through the income statement. Further disclosures relating
lo the deficit recovery liability can be found in Note 17.
The Trustees are satisfied that the Universities Superannuation Scheme meets the definilion of a
mulli-employer scheme and has therefore wognised the discounted fair value of the contractual
conlributions under the recovery plan in existence at the date of approving these financial statements.
At 31 March 2023, the Association's balance sheet included a liability of £90,142 for future contributions
payable under the deficit recovery agreement which was concluded on 30 Seplembgr 2021, following the
2020 valuation when the scheme was in deficit. No deficit ￿e0Very plan was required from the 2023
valuation, because the scheme was In surplus. Changes to contribution rates were implemented from 1
January 2024 and from that dale the Association was no longer required to make deficit recovery
oontribLrtions. The remaining liability of £90,142 was reloased to the income and expenditure account.
Further disclosures relating to the deficll reeovery liability can be found in Note 17.
Donations and legacies
Unrastricted Designated Rostrictad Totsl Funds Total Funds
Funds
Funds
Funds
2025
2024
Donatlons and I￿aGleS
Legacies and bequests
Membership donations
174,748
4.830
179,578
174.748
52,486
227,234
47.656
47.656
11,429
11,429
Page 18

The Freshwater Biological Association
Notes to the Financlal Statèments for the Year Ended 31 March 2025
continued
Other trading activities
Unrestricted Designated Restricted Totsl Funds Total Funds
Funds
Funds
Funds
2025
2024
Miscellaneous income
678
678
1,788
Investments
Unrestricted Designated Restricted Total Funds Total Funds
Funds
Funds
Funds
2025
2024
Windermere linc. annexel
Investment income
160,613
35,622
196,235
160.613
35,622
196,235
154,756
37,501
192,257
Charltable activities
Unrestrict8d Designated Restricted Total Funds Total Funds
Funds
Funds
Fund5
2025
2024
Membership services
Scientific and special
publications
Scientific research & activity,
diract funding and grants
Training ￿￿rseS and meellngs
Miscellaneous Income
17.956
17,956
10.310
24.826
24.826
32,846
542,648
56,888
673,217
542.648
56,888
64,000
14.646
795.019
642.318
642,318
Page 19

The Freshwater Biological Assoclatlon
Notes to the Financial Statements for the Year Ended 31 March 2025
. continued
Expenditure
Land &
buildings
Charitable
activlties
Total
2025
Total
2024
DirÈct Costs
Administration of investments
Membership Ser￿￿S
Scientific and special publications
Scientific research actimty. direct funding and
grants
Training courses and meetings
Windemiere
8ad debts written off
12,504
7.456
6.059
12,504
7.456
6.059
11,296
8.272
3,692
491.526
373.401
373,401
44,859
107,546
44,859
30,932
109,584
3,459
658,761
107,546
384
444,663
107,546
552.209
Support costs
Employment costs
Cornpuler 50fvare and maintenanee costs
Cost of trustee meetings
Accountancy fees
The audit of the charitys annual accounts
other professional fees
233,604
144,502
590
10,872
10.903
1,021
401.492
233,604
144.502
590
10,872
10.903
1.021
401,492
120.508
165.075
2.805
2.750
7.000
1.737
299.875
107.546
846.155
953,701
958,636
Governance costs
2025
2024
Cost of trustee meèllngs
Accountancy fees
Auditors remuneration
Investment management fees
other professitsnal fees
590
10,872
10,903
12,504
1,021
35,890
2.805
2.750
7,000
11.296
1,737
25,588
Twstees. remuneration and expenses
No members of th8 Board received any remuneration during the year {2024 - none).
Travel costs and board expenses amounting to £590 12024.. £533) were paid for or reimbursed lo 412024..
41 members oflhe Board.
Page 20

The Freshwater Biological Assoclation
Notes to the Financial Statements for the Year Ended 31 March 2025
. cantinu
10 Employees. remuneration
The monthly average number of persons (including senior management) èmployed by the charity during the
year was as follows.,
2025
No.
2024
No.
Charitable activities
18
13
The aggregale payroll costs of these persons were as follows-
2025
2024
Salaries
Employer's National Insurance Contributions
Employer's pension contributions
Death in service benefit contributions
Employer's pension provision
430,887
36,321
25.910
3.039
427.823
37,917
31,790
{90.1421
407,388
496,157
One employee received emoluments of between £60,00, and £70.000 and one employee re￿iVed
ernoluments of between £80,001 and £90.000 excluding pension contributions during the year 12024
between £70,001 and £80,000).
The key management personnel comprise the Trustees and the ExecLrtive Director. The total employee
benefits of the key management personnel of the Charity were £91,645 {2024- £93.755).
Page 21

The Freshwater Biological Association
Notes lo the Financial Statements forthe Year Ended 31 March 2025
. conlinued
1 l Tangible fixed assets
Computer &
other
equipment
Freehold land
Leasehold
and buildlngs improvements
Scientific
equlpment
Totsl
Cost
As at 1 April 2024
Additions
As al 31 March
2025
215,432
43,790
43,963
27,603
52,145
339,143
43,790
259,222
43,963
27.603
52,145
382,933
Depreciation
As at 1 April 2024
Charge for the
year
As at 31 March
2025
24.387
23,726
10,288
52,145
110,546
2,585
8,794
5,521
16,900
26,972
32,520
15,809
52,145
127.446
Ngt book value
As at 31 March
2025
As al 31 March
2024
232,250
11,443
11,794
255.487
191,045
20,237
17,315
228,597
Page 22

The Freshwater Blological Association
Notes to the Financlal Staternents for the Year Ended 31 March 2025
. continued
12 Inve¥lments held as fixed assets
Investment
proparties
Quoted
Investments
Total
ma￿et value
As at 1 April 2024
Revaluation
Additions
Disposals
As at 31 March 2025
1,567.866
1187,8661
1,413,113
19.643
143.656
1160.298)
1.416.114
2.980,979
{168,223)
143,656
{160,298)
2.796,114
1,380,000
Net book value
As at 31 March 2025
As at 31 March 2024
1,380,000
1,567,866
1,416,114
1,413,113
2,798,114
2,980,979
Investment property
The Annexe development completed in May 2018. The investment properties were last valued during the
year ended 31 March 2025 by Edwin Thompson {Chartered Surveyors).
The historical cost of the Annexe is £1,210,963.
Quoted investments
Quoted investrnents are valued in accordance their UK Stock Exchange lish.ngs at the balance sheet
dates_
Investment Management fees of £12.504 were charged during the year12024 - £11,296).
Represented by..
Investments held on UK Stock Exchange
Cash held as part of Portfolio
1,405,363
10,453
1.415,816
13 Debtors
2025
2024
Other debtors
Prepayments and accrued income
67,616
49,159
116,775
110,226
38,141
148,367
Page 23

The Freshwater Biological Assoclatlon
Notes to the Financial Statements for the Year Ended 31 March 2025
- continued
14 Creditors- Amounts falling due within one year
2025
2024
Taxation and social security
Other creditors
Accruals and deferred income
30,688
16,245
64.863
111,796
13,128
37,944
48,798
99,870
Creditors amounts falling due wlhin one year includes deferred income..
2025
2024
As at l April 2024
Amount released to incoming resources
Amount deferred in the year
As at 31 March 2025
34.597
19.6671
17.459
42.389
77,282
143.7681
1.083
34.597
15 Operatlng laasa commitments
As al 31 March 2025 the charity had total future minimum lease payments under nOn￿ncelIable operating
leases as follows".
Land and Buildings
Other
2025
2024
2025
2024
Within one year
Within and five years
12,000
10,173
17,509
27,682
32,296
32,286
12.000
During the year, lease payments lotalling £7,807 were recognis8d in the SOFA.
16 Other flnanclal commltments
There are annual commitments of £10,643 for a six year li￿nce to occupy various rotsms at the River
laboratory. These were entered into shoruy after the year ended 31 st March 2021.
Page 24

The Freshwater Blological Association
Notes to the Financlal Statemenls for the Year Ended 31 March 2025
- confynued
17 Penslon schemes
The Association participates In the Universtties Superannuation Scheme (USSI. a defined benefit scheme
which is exlemally funded and contracted out of the State Second Pension IS2PI. There are current
members of the USS pension scheme and in addition an allemalive defined contribution stakeholder penslon
scheme is offered with Scottish Widows to those staff not eligible for the USS scheme.
The lotal credit rel8ased to the inGome and expenditure account is £nil12023 - Credit of £90,142) a5 shown
in note 10.
A defiGIt recovery plan was pul in place as part of the 2020 valuation, which required payment of 6.20/.
sa12rles over the period 1 Aprll 2022 until 31 March 2024, 8t which point th& rate would increase to 6.30A. As
set ovl in Note 1. no deficit recovery plan was required under the 2023 valuation because the scheme was in
surplus on a technical provisions basis. The institution was no longer required lo make deficit recovery
contributions from 1 January 2024 and accordingly releasad the outstsnding provision lo the statement of
income and expenses in the prior year.
The latest available complete actuarial valuation of the Retirement Income Builder, th8 defined benefit part of
the scheme, is at 31 March 2023 {the valuation datel. which was carried out using the projected unll method.
Since the insututs'on cannot identlfy Its share of the Retirement Income Builder Ideflned benefrtl assets and
liabilities, the following disclosures reflect those relevant for those assets and liabilities as a whole.
The 2023 valuallon was the seventh valuallon for the schem8 undor the scherne-specific funding reglme
introduced by the Pensions Act 2004, which requires schemes to have sufficient and appropriate assets to
cover their techni¢81 provisions (the statutory fundlng objeGtivel- Al th6 valuation date, the value of the assets
of the scheme was £73.1 billion and the value of the scheme's technical provisions was £65.7 billion
indlcating a surplus of £7.4 billlon and a funding ratlo of 111 %.
The key financial assumptions used in the 2020 valuation are described below. More detail is set out in the
Statement of Funding Principl8s. {uss.co.uklabout-uslvaluation-and-fundlnglstalement-of-funding-prinryplesl-
Pension increases (CPI)
3.0°/D p.a Ibased on long-terrn average expected level of CPI,
broadly ¢onsislenl wlth long-temi rnarket expectalionsl
1.0% p.a. to 2030, ￿dUcIng linearly by 0.1'k p.a. from 2030
Penslon increases IsubjeGt to 8 floor of O°Al Benefits with no cap:
CPI assumption plus 3bps
Benefits subject to a "soft cap. of 5 /0 Iproviding inflationary
increases up to 50k and half of any excess inflation over 5.
up to a maximum of 1 OQ/al.'
CPI assumption minus 3bps
Dlscount Rate Ifotward rates)
Fixed Inieresl gilt weld curve plus..
Pre-retirement: 2.5Vo p.a.
Post retlrement.. 0.9010 P.
The main dernographic assumption used relates to the mortality assumptions. These assumptions are based
on analysis of the Scheme's experience as ¢arried out as part of the 2023 acluerial valuallon. The mortality
assumptions used in the these figures are as follows:
2023 Valuatlon
1010/0 of S2PMA'light' for males and 95°/0 of S3PFAfor
females
Mortality base table
CMI 2021 wlth a smoothing par8met8r of 7.5, an initial
addiliorb of 0.40A p.a. and a long term improvement rale of
1.8Yo pa for males and 1.60/0 pa for females.
Page 25
Future improvements lo mortality

Tho Freshwater Biologlcal Association
Notes to the Financlal Statements for the Year Ended 31 March 2025
. continue(J
The current life expectancies on retirement al age 65 are:
Males currently aged 65 lyearsl
Females currently aged 65 (years)
Males currently aged 45 lyearsl
Females currently aged 45 {yearsl
2025
23.8
25.5
25.7
27.2
2024
23.7
25.6
25.4
27.2
18 Related parllgs
Controlllng entity
The charity is controlled by the trustees who are all directors of the company.
Related party transactlons
Chris Dessenl IBoard member) is CEO of Creative Concern who have been appointed lo cary out work for
the Freshwater Biological Association, during the year ended 31 March 2025 the work done totalled £50
(2024- £8,254).
19 Analys18 of funds
Othar
recognised
galnsllosse At 31 March
2025
At 1 April
2024
Incoming Resources
resources
expended Transfers
General Funds
General funds
180,417
1,018.809
1906,0451
189,865
(172,515)
310.531
Designated Funds
Frilsch Fund
R I Webb Fund
Retention reserve
Investments
9,344
5,000
290.000
2,980,979
3,285,323
9,344
15,0001
290.000
2,796,114
3,095,458
1184,865)
1189,865)
Restricted Funds
Big Windermere
Survey
47,656
147,656)
3.465,740
1,066,465
{953,701)
(172,5151
3,405,989
Page 26

The Freshwater Biologlcal Association
Notes to the Financlal Statements forthe Year Ended 31 March 2025
. conlinued
Fritsch Fund fund established to support the scienttfic collection of alg81 illustrations together with
taxonomi¢ references.
R I Webb - this fund was established in 2018 folloifving a bequest uf £5,000 received from Mr R I Webb. a
Life member of 42 years. This fund is lo be used far research projects and for the provision of equipment
and support for trailling.
Retention reserve this designated fund is to ring-fence fvnds held in case the charity was lo wnd up. and
covers redundancy costs. legal costs, exit charges from existing contracts and 6 months premises
expenditure that would be incurred in the expected wnd-up limeframe prior to assets being liquidated.
Investments - This designated fund represents investment assets which are held by the Association to
generate both a short-tem annual retum through rental income, diMd&nds and interest 8nd a longer-lerm
capital appreciation. The annual investment retum of belween £180,000 and £240,000 {see note 5 to the
accounts) provides crucial unrestricted cash contributions towards the Association's core costs, allowng it
to focus more of the funding received directly to speGtfic project use in line with Ils objectives.
Big Winderemere Survey- Donations recelved to enable the survey to be completed.
Prior perlod
Al 1 April
2023
Incomlng
resourcas
Resources
expended
Other
re¢¢gnls¢d
galnsjlosses
Transfers
At 31 March
2024
Designated
Funds
Fritsch Fund
RIWebb
Fund
Retention
reserve
Investments
9,344
9,344
5,000
5,000
290.000
290,000
2,980,979
3,285,323
2.903.197
3.207,541
77,782
77,782
General
Funds
Unrestrlcled
income fund
127,264
1,000,493
1,000.493
1958,6361
1958,6361
177,7821
89,078
180,417
3,334,805
89,078
3,465,740
20 Transfers
The transfer of £5,000 from designated funds to unrestricted funds represents the R I Webb fund having
been previously spent up bul not adjusted.
Tha transfer of £184,865 from unrestrlct8d funds to designated funds represents tha movement in assets
held as invaslmenls during the year.
Page 27

The Freshwater Biological Assoclatlon
Notes to the Financial Statements for the Year Ended 31 March 2025
contlnu8d
21 Net assets by fund
Unrèstricted
Fund$
Total Funds
2025
Total Funds
2024
Tangible assets
Investments
Current assets
Creditors= Amounts falling due ￿￿thIn one year
Provisions for liabilities
Nel assets
255,487
2.796.114
466,184
1111,796)
255,487
2.796.114
466,184
1111,796)
228,597
2,980.979
356,034
199,8701
3,405,989
3,405,989
3,465,740
Prlor parlod
Unrestricted
Funds
Total Funds
2024
Total Funds
2023
Tangible assets
Investments
Current assets
Creditors.. Amounts falling due WTthin one year
Provisions for liabilities
Net assets
228,597
2,980,979
356,034
{99.870)
228,597
2.980,979
356,034
199,8701
242,703
2.903.197
489.885
1210.8381
190,1421
3,334,805
3,465,740
3,465,740
Page 28