The
FISHMONGERS,
Company's
FISHERIES CHARITABLE TRUST
Annual Report and Financial Statements
for the year ended 31 December 2024
Registered Charlty number 284888
Registered Scottlsh Charlty number SC042845

The Flshmongers, Company's Fisherle5 Charitable Trust
Contents
Reference and administrative details.
Trustees.............................................................................................................................................................................
Trustee5' report for the year ended 31 December 2024...............................................................................................
Independent auditorf5 report to the Trustees...................................................
statement of financial activities for the year ended 31 De￿mber 2024............................................-..........................17
Balance sheet as at 31 December 2024..........................................................................................................................18
.13
Statement of cash flows for the year ended 31 December 2024...................................................................................19
Notes to the finantlal statements for the year ended 31 December 2024....................................................................20

•',1 The Flshmongerg Company's Flsherles Charltable Trust
Reference and administrative details
Addrè55 for enquirie5
The Fisherie5 Secretary
Fi5hmongers' Hall
London Bridge
London
EC4R 9EL
Principal Investment Managers
CCLA Fund Managers Limited
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Email.. Fi5h.Fi5heries
fishmon
ers.or
Troy Asset Management
Link Fund Solutions Limited
PO Box 389
Darlington
DLI 9UF
Independènt Auditor
Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Chelverton A55et Management
Colche5ter Road
Chelmsford
Essex
CM2 5PW
Sollcltors
Farrer & Co LLP
66 Lincoln's Inn Fields
London
WC2A3LH
PrTnclpal Bir nker5
HSBC Bank plc
1-3 Bishopsgate
London
EC2N 3AQ

The Flshmongers, Cornpany's Flsherles Charltable Trust
Trustees
The Trustees at the date of thi5 report are the Fishmonger5' Company (the corporate trLSSteel and Amelia Fitzalan
Howard (appointed 16 ottober 20241.
The Fishmongers, Company is one of the Great Twelve Livery Companies of the City of London and received its flrst
Royal Charter In 1272. The governing body of the Company 15 the Court of Assistants, whose members at the date of
this report are listed below. The Court appoints a member, who shall be neither Prime Warden nor a voting member
of the Trust's advisory committee, to act as Chair of the Corporate Trustee for a two-year term. The current Chalr Is
Charles Spicer Esq (appointed 9 Novernber 20231.
Ms Fitzalan Howard is a senlor member of the Livery of the Company and, not being a Member of Court, acts as the
'Independent Trustee, of the Trust. She was appolnted for an InStial 3-year term a5 a replacement for Michael
Nicholson Iresi@ned as Trustee on 16 October 20241.
Members of the Court of the Flshmongerg Company:
Andrew Sutcliffe Esq KC (Prime Warden from 19 June 2024
Fred Stroyan Esq (Prirne Warden from 21 June 2023 to 19 June 20241
Charle5 Spicer Esq Ichair of Corporate Trusteel
Simon Barrowcliff Esq
Dr Natalia Mi5ciattelli Mocenigo Soranzo
Bill 5 Mills Esq
Evy Hambro Esq
The Earl of Erroll
Andrew Martin Smith Esq
R G Ho113nd-Martin Esq
Andrew Morgan Esq
James fforde Esq
The Hon Michael MtLHren KC
Nigel Bankes Esq
HRH The Princess Royal KG KT GCVO QSO
David Robertson Esq
David Jones Esq DL
Alderman Sir Alan Yarrow
Jolyon Thornton Esq
Mrs Charlotte Newson
The Earl of Darnlev
Dr Henrietta Boyd
Aldred Drummond Esq
Richard Wills Esq
Duncan Stirling Esq
Rupert Cotterell Esq
Gareth Neame Esq OBE DL

•. Thè Flshmongers, Company's Flsherles Charltable Trust
Trustees, report for the year ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Fishmongers, Compènvs Fisheries Charitable Trust Ithe Trust) is an unincorporated Trust, Boverned by a Trust
deed dated 19 May 1982, as amended by a Deed of Variation dated 10 November 2011. It Is reÉistered with the
Charity Commisslon, ReElstration $4umber 284888, and the Office of the Scottish Charity Regulator, Registration
NumberSC042845.
The Trustees at the date of this report are the Fi5hmongers' Company (the Corporate Trustee) and Amelia Fitzalan
Howard, who is not a member of the governing body of the Company but is a senior member of the Livery of the
Company and acts as the Independent Trustee of the Trust. Member5 of Court Ilisted on page 31 are drawn from the
Livery of the Corporate Trustee and are selected so as to ensure that it and its charities can draw on a wide range of
appropriate experience and expertise. New Members of Court are given an induction to the finances and affair5 of
the Corporate Trustee and its charities by the Company's senlor executive officer, The Clerk, and by other Members
of Court.
In order to ensure effertive separation of Trust buslness from the business of the Corporate Trustee, the Court has
created the position of Chair of the Corporate Trustee and has stipulated that the Chair should be neither the Prime
Warden of the Company nor a serving member of the Trust's advlsory Committee. The current Chair of the Corporate
Trustee is Charles Spicer Esq.
The Court has established a Fish and Fisheries Committee comprised of members of Court and co-opted members of
the Livery. Its purpose 15 to promote, develop and deliver the Corporate Trustee's historic duty to 5VPPOrt the fish and
fisherles sector in the UK. When acting on behalf of the Trust, the Cornmittee Chalr is accountable to the Chair of the
Corporate Trustee. In respect of the Trust, the Committee's tasks include..
al Understandlng the Fisherie5 sector
bl Considering, and making recommendations on, the Trust's Fisheries Strategy.
cl To prepare and submit an annual Bu5ine5s Plan for the following year with an outline up to 5 year5 ahead.
When approved, to implement and control the budget and oversee the detailed management of the
Trust's grants, programmes and projects.
During the year, day to day management and admlnistration of the Corporate Trustee was delegated to its senior
Executive Officer, the Clerk, Toby Williamson MVO. In addition, the Court has appointed the Corporate Trustee'5
Fisheries Director, Andrew Wallace, as Executive Director re5pon5ible for leading its support to the Trust and its
Finance Director, Steve Malle, undertakes the same role for the Trust. Together they comprlse the Trust's Key
Management Personnel. Their remuneration is set by the Court, having regard to the market rate for similar role5.
Staff of the Corporate Trustee arejoSntly employed by the Fishmonger5' Company's Fisheries Charitable Trust and also
by the Fishmongers, Company's Charitable Trust (Charity No. 2636901. In 2024, the Trust reimbursed the Corporate
Trustee £332k in respect of joint employment costs and £50k for administration 5ervice5.
OBJECTIVES AND ACTIVITIES
The objects of the Trust were widened in 2011 and are:
The odvoncement of education on matters related tofish ondfisherles
rhe conservution of n(Ftural habitats und environment thot support hEolthyfish fjndfish stocks
The preservotion ond protECtitsn of public he(Flth
The support of the work of other chorities und organisations t7ssociuted withfish ondlisheries

+.￿ The Flshmongerg Company's Flsherles Charltable Tyust
Trustees. report for the year ended 31 December 2024 Icontlnuedl
OBJECTIVES AND ACTIVITIES Icontinuedl
These objects are delivered through the Fisheries Strategy la5 referred to in Ibl above) by part-funding the
rerlluneration of four FTE current fisheries-focused staff members..
Fi5herie5 Direttor- Andrew Wallace
2 Programme Managers- Dr Eleanor Adamson & Sharrnin Rouf
A Charities Communications Manager- Gavin O'Donnell
A Charitie5 Administrator-Nata5ha Taylor (shared 50150% with the Fishmongers, Company's Charitable Trustl
and by making grants In support of Its objertive5. Its six main areas of work are..
il Freshwater fish, fisheries, and catchment management
ill Marine fish, fisheries and envlronmental management
iiil Sustainable and innovative development of aquaculture
iv) Supporting and developinÉ the fish trade
vl Providing education and research In the fisherie5 sector
vil Providing an international network of best practice
Among the Trust's funding of educational programmes, the targeted academic sponsorship programrne contributes
to the funding of PhDs, Masters and Internships that help SUPPOTt the areas of work identified above, and a school
education programme support5 teachers to use sustainable seafood in their lessons. The Ocean Programme has
particular focu5 on fisheries and marine conservation, focused in 2024 on the UK'5 overseas territories. The Trust also
supports a wide variety of events, both at Fishmongers, H311 and elsewhere, to he5p further its objectives. The Trust
3150 makes discretionary grants in accordance with its oblectlves.
GRANT-MAKING POL5CY
l. The Flshmongers, Company's Fisheries Charitable Trust is willing to tonsider proposals from established
organ15ations to provide grants in support Of projects related to the delivery of the fisheries strategy objectives,
outllned above. The Executlve team 5hortlist5 the applications and conducts further due diligence on the applicant
charity itself, its governance, staffing, and financial stability and budgeting before submitting assessment reports
to the Flsh and Fisheries Committee along with the original applications for a conslderation.
2. In addition, the Trust's sister ¢harity, the Fi5hmonger5' Compan￿5 Charitable Trust, has a small, designated fund
from which it can sometimes support causes which, though fisherie5 related, are not directly in support of fish or
fisheries. Such projects may include..
a. Projects which may benefit indlvbduals lincluding disabled or otherwise disadvantaged people) through fishing
or their relationship with fishing.
b. Historical, archaeological or sociologlcal studles related to fishing.
c. Cultural and social projects in support of fishing communities or the environment.
3. The Trust does not normally support:
a. Project5 dealing with marine mammals, although prolects dealing with the impact5 of predation by marine
mammals would not necessarily be excluded.
b. Any applications for core-fundinE or for which there is a Statutory duty to provide a service, facility or
undertaking.
c. Project proposals that seek to form new bodies.

•1 The Flshmonger5' Company'5 Flsherles Charitable Trust
Tru5tees' report for the year ended 31 December 2024 Icontlnuedl
GRANT-MAKING POLICY Icontlnuedl
In considering bids for fundin& preference will be given to projects..
a. Put forward by reElstered charltles or not for proflt organisation5 already working in those area5 for which the
grant is sought.
b. Where there is matched fundlng by another donor, or there is clear evidence of funding support or support in
kind to ensure the viability of the projett.
c. Which demonstrate good collaboration or coordination with other organisations, avoid duplication and make
use of partnership arrangements.
The following conditions may be applied..
a. In such cases where the grant is reliant upon other 8rant5, any award may be conditional upon the applicant
demonstrating that the other monies are secured before any monies are released by the Trust.
b. As a condition of any grant, the proposal must include provision for reporting to the Trust on progress being
made and of final outcomes. Where multi-year grants are awarded, release of each instalment of funding is
contingent upon the receipt of reports, including financial accounts, demonstratlng satlsfactory progress
against the objectives of the project.
c. As a further condition of any grant made, the Trust requires that Its support is acknowledged all publlcations
and/or publicity material relating to the project. Where appropriate, and wlth the written consent of the
Company, permission may be granted to use the Company's crest.
d. Under normal circumstances the Trust will not consider a further grant to an organisatSon unt51 a perlod of
three years ha5 elapsed from the date Df approval of the previous grant. Exceptions to this policy miEht include
where significant development opportunities a550ciated with the original application may be evident.
e. Where 3 grant Is requested to help launch, or pump-prime a new initiative, the applicanl will need to
demonstrate in the application how the initiative will be sustained over the longer term.
FUNDRA151NG D15CLOSURES
Members of the Llvery and Freedom of the Corporate Trustee, the Fishmongers, Company, have always been
encouraged to support the work of Its associated charities, esther by the means of regular donations or by giving their
time, energy and expertise. In March 2025, the Company wrote to the Members of the Livery asking that all members
contribute to Its charltable wtsrk, wlth a suggested minimum donation of £120 pa (to either the Trust or its Slster
charity Fccfi with the aim of universal participation.
The Trust does not engage in fundralsSng to the general publlc, nor worked wlth professlonal fundralser5 or commercial
participators. Consequently, the Trustees have not reEarded it as necessary to subscribe to any voluntary fundraising
standards.
PUBLIC BENEFIT
The Trustees continue to have regard to the Charity Commission guidance on public benefit in settlng thelr grant
making policies and future plans and are satisfied that the Erants that have been made provide public benefit to the
community.

The Flshmongerg Company's Flsherles Charltable Trust
Trustee5' report for the year ended 31 December 2024 Icontlnuedl
FINANCIAL REVIEW
The Trust recelved donation5 of £891k12023- £1,408kl. No donation was received from the Fishmongers, Company
12023.. £920kl however the Fishmongers, Companvs Charitable Trust donated £871k. The overall decrease in donation
income was due to the fact there was no donatlon from the Fishmongers, Company 12023.. £920kl whereas the
donation from the Flshmongers, Company's Charitable Trust of £871k was larger than last year12023'. £450kl. Income
of £IOOk was received from the investment property12023.. £IOOkl and £123k from investment income12023.' £120kl.
The Trust spent £1,268k on charitable grants12023'. £1,186kl and £382k on Fisheries Project512023'. £389kl.
The 10-year lease over an investment property with a net annual rent of £IOOk pa that was gifted in December 2018
to mark the Fishmongers, Company's 750 annlversary has been valued at £300k by the Trust'5 Surveyor, Cluttons
LLP.
RESERVES POLICY
The Trustees, policy is to rnaintain a balance on the Trust's unrestrScted reserves, net of Investments sufficient to meet
at least three months of total costs. The Trustees, current policy is to avold any requirement to Use expendable
endowment or unrestricted investments to meet cashflow needs.
At the end of the period, the Trust held total unrestricted funds of £1,218k12023= £1,848kl. £1,246k comprised Fixed
Asset Investment512023.' £1,301kl and there were no designated funds12023'. £nlll. After deducting investments, the
Trust'5 available free reserves (net current assets) were £85k in deficit 12023.. £547kl but the Trust anticipates
donation of £1.525m from the Fishmongers, Company's Charitable Trust in early 2025, to cover Sts expenditure plans
for the year. This will avoid the requirement to sell investments to cover cashflow.

•!1 The Fishmongers, Compan￿5 Fisherles Charltable Trust
Trustees. report for the year ended 31 December 2024 Icontlnuedl
REVIEW OF THE YEAR
2024 represented the first year of a 5-year planntng cycle, building on the Trust's reputation as one of the blgge5t
charities In the UK wlth a speclfic focus on flsherSes and aquatlc envlronments. The current focus Is largely..
Clean Rivers;
Sustainable Fisherie5,'
Ocean Health,.
Strategic Alliances;
Fostering sustainable business;
Nurturing healthy and informed consumer5, and;
The skills and training needed to deliver on the above.
Reestablishing the Company's relationship with the seafood sector through the Trust's Flsh Trade Programme has
been an important recent focus, and in 2024 thi5 saw the pre-competitive'seafood Grimsby and Humber5ide Alliance,
of seafood processors, with the 5UPPOrt of the Trust, rnake large contribution5 to both decarboni5ation and career
development in the seafood processing sector. This programme also saw an expansion of work with schools in the
Lincolnshire region, centre of the UK seafood processing sector, and continued development of the"DiscoverSeafood"
web51te which te115 fresh stories about seasonal sustainable Brit15h seafood. In 2024 Discover Seafood extended this
initiative with physical marketing pack5 and recipe card5 to connect holiday visitor5 Wlth local seafood busine55e5.
The Trust's UK Marine Fisheries Prograrnme 5UPPOrted 3n exciting line up of projects in 2024 designed to enable
ctive industry representation in management fora, and to fill science gaps to advance sustainable fisheries. One
highlight here was ongoing support for the charity Fishing into the Future that works with fishers, scientists and
fisheries managers to advance knowledge and best practice. Grants awarded from the TrLJ5t'5 Freshwater Programme
ontinued to directly fund ongoing projects in.. Scotland, England, Wales and Northern Ireland to help build capacity
In river management organisations to deliver a wide range of habitat restoration projects to aid the long-term
ecological restoration of river catchment5. 2024 saw thi5 extend to the work of the fledging "farm clusters"
landowner-led Initiative facilitated by the Game and Wildlife Conservation Trust.
The Trust's Aquaculture Programme supported various aquaculture industry forums and conferences in Scotland,
Northern Ireland and Southwest England in 2024, as well as supporting advocacy for improved water quality for
shellfish farming water5. Of note, in collaboration with the Scottish 5hellfi5h industTV and academic community, the
Trust co-convened an early career researcher workshop on 'Challenges to the shellfish industry,, and provided grant
funding to winning projects submitted by students who participated in this multi-di5ciplinary event.
The Trust's 2024 Educatlon Programme aimed to invest in people with potential, leverage our industry knowledge
and connections to develop relevant collaborative student research project5, and focus on widespread positive
engagement with seafood education for the long-term benefit of industry and wider society. Our Fish In School Hero
Programme delivered teacher training for 110 more teachers and free seafood to over 500 schoo15. At University level
the Trust contributed funding to nlne Doctoral studies and two masters students, a5 well a5 funding four industry
internships, and through a co-funding partnership with the City & Guilds Foundation, we supported 24 people through
'seafood careers training, in the Grimsby and Humberside area where much of the UK processing industry is based.
The Trust's Oceans Programme focused on building relationships with the UK'S overseas territories and
Commonwealth, as well as 5UPPOrting international visits to learn about seaweed aqu3culture, endangered sea tUTtle
research, and cetacean entanglement in fishing gear.

:), The Fishmongers, Companvs Fisheries Charitable Trust
Trustee5' report for the year ended 31 December 2024 Icontinuedl
REVIEW OF THE YEAR Icontlnued)
',Gr$nt8
Programme Area5, Core activities supported, and underlylng objectlves (Environment, Economic, Sociall in 2024
Work initiated or led by the Trust in 2024 leveraged significant additional funding lestimated at over £5ml from other
co-funding sources, directly 5upportin8 It5 partners, beneficiaries and project5.
By both spend and leveragin& the UK Marlne Flsherles Programme was the largest area of work In 2024, accounting
for 37% or project and Brant expenditure. Measures, however, such as the number of guests convened across our
prograrllme areas, and the balance of core activities and underlying objectives, illustrate a relatively balanced activity
across the Trusts priorlty areas, wlth Soclal oblectlves underlying almost half148%1 of all project and grant activity.
Cial Objeci
Guests convened by Programme Area

l The Flshmongerg Company'5 Flsheries Charitable Trust
Trustees, report for the year ended 31 De￿rnber 2024 Icontlnuedl
INVESTMENTREVIEW
The Trust's Statement of Investment Principles and Policy state5 that its investment objectives are..
To mtsintuin its (Fssets in reol termsfrom generotion to generotion, while spending t7t o sustoinrjble level. The Chority's
055ets will therefore tend to be invested reÉFI Jssets (property ond eqtjities) which typicolly have un underlying
Incame. The Charity wouldllke to spendo growln9 Streom of income ond desires o higher current return thon the MSCI
World without undue risk to thEAuture growth of thot income orsocrilice of totul return.
The Churity regords equltles (7S o globol osset closs yet has sterling needs ond does not wish to poy unnecessary tox
ondfee5. It ht55 minimolsterling property income undso sterling income is o welcome motch uguinstshort term needs,
btjt not o permonent requirement.
The Charffty hus on ethicol constroint, which is thut it expects tht7t its investment manugers ensure th(Ft there is good
or improving corporate governance at the companies in which it invests, and it seeks to understand how the managers
link this responsibility to shrjreholder returns. The Charity will not second guess the manager but impre55 on them the
importunce of this responsibility.
Investment income in 2024 was £123k la yield of 3.1%), representing a slight increase on the previou5 yearfs £120k.
The investment portfolio ended the year up a modest 2.7%. The total return was therefore c. 5.8%, ahead of dornestic
inflation and the return on cash but lagging the return on UK equities of 9%. The Trust'5 main holding in CCLA COIF
returned a disappointing 5% in the year, while the Trojan Income Fund delivered 6.5% and Chelverton UK Equity
Income Fund managed 8.0%.
n late 2024 and early 2025 the Trustee5 conducted a review of the Trust's investments which concluded that, while
the Trojan Income Fund had broadly performed as expected, it no longer met the investment case for which it was
purchased in 2018. The review agreed to divest from the fund and also to reduce exposure to CCLA, moving the
proceeds into a new discretionary mandate with Waverton Asset Management. This process is expected to complete
in spring 2025.
On 12 June 2014, the Trustee passed a resolutlon as permitted by the Charities (Total Return) Regulations 2013, to
adopt a Total Return approach to Its permanent endowment- the Simon Birch Memorial Fund with effect from I
January 2015. The Trustee determined that on that date the value of the Trust for Investment was £147k comprising
the value of the Original glft plus subsequent capStal growth while the value of Unapplied Total Return was £115k
comprising the historic excess of income over expenditure. During 2024, £6k was allocated for expenditure from the
total return of £26k in the year. At 31 December 2024, unapplied total return was £106k12023'. £86kl.
RISK MANAGEMENT
The Trustees have assessed the major risks to which the Trust is exposed. The most significant risk is assessed to be
dSsunity with the Corporate Trustee leading to a significant reduction in income and other resources. This 15
addressed by keeping the strategic objectives of the Trust aligned with the interests of the Corporate Trustee and
carefijlly handling the interface between the Trust and the Corporate Trustee. The Tru5tee5 also attach high
importance to addressing the risk of bad governance and are currently undertaking a thorough review of 311
governance structures, processes and documentation. Although Investment Income is a rninor part of the Trust's
overall income, the major financial risk derives from market volatility and the potential knock-on effect on the
Trust's income if markets struggle. The Trustees are keeping the increased level of Spending from the portfolio
foSlowing the restructuring of investments In 2018 under revlew. Additionally, the Trust's policy is to fund specific
projects rather than the core costs of Dther orÉanisations and to ensure a balance of single-year and multi-year
projects. Taken together, these should provide the flexibility to temporarily reduce the level of grant5 awarded if
required without damaging exlsting projects.

The Fishmongers, Company's Fisherles Charitable Trust
Trustees. report for the year ended 31 De¢ember Z024 Icontlnuedl
PLANS FOR THE FUTURE
The Trustees are ambitious to deepen the work5treams of the Fishmongers, Company's Fisherie5 Charitable Trust
further, with a particular emphasis on convening, financial leveraging, and the support of key, well-placed, high-
capacity industry professionals. In each key programrne area, specific focal areas have been Identlfied for 2025, and
the Trust's intention is to fully utilise it's convening power, partnerships, leveraging ability, specialist staff capacity, as
well as It's available funds to extract maxlmum Impact 3cross its programme areas.
FARM CLUSTERS
CONSUMIP:TIl .
SUSTAINABI LITY &
INNOVATION
COORDINATION
CONSERVATION
Distrlbution of funding and focal areas across the Trust's main programme areas in 2025
The way the Trust works

The Flshmongers, Company'5 Flsherles CharStable Trust
Trustees, report for the year ended 31 December 2024 Icontlnuedl
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Trustees are re5pon5ible for preparing the Tru5tees' Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Practice).
The law applicable to charltles in England and Wales reqLJires the Trustee5 to prepare flnancial statements for each
rinancial year which give a true and fair view of the state of affairs of the Charity and of the income and expenditure
of the Charlty for that perlod. In preparing these finantl31 statements, the Trustees are requlred to..
select suitable accounting polities and then apply thern con515tentlv
observe the methods and principles in Accounting and Reporting by CharltSes: Statement of Recommended
Practice applicable to charities preparing their accounts Tn accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021
make judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements
prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the
Charity will continue in business.
The Trustees are responslble for keepSng proper accounting records that disclose, with reasonable accuracy at any
time, the financial posltion of the Charity and enables them to en5UTe that the financial staternents cornply with the
Charitles Act 2011, the Charity and Trustee Investment (Scotlandl Act 2005, the Charities Accounts (Scotlandl
Regulations 200613s amended) and the provislons of the Trust deed. They are also responsible for safeguarding the
assets of the Charlty, and hence for takinB reasonable steps for the preventlon and detection of fraud and other
Irregularltles.
Charles Spicer Esq
On behalf of the Trustees
20 March 2025

•1 The Flshmongerg Company's Flsheyles Charitable Trust
Independent auditorfs report to the Trustees
Oplnlon
We have audited the financlal statements of the Fishmongers, Company's Charitable Trust I'the Charlty'l for the year
ended 31 December 2024 whlch comprise the statement of flnanclal actIvIt￿es, the balance sheet, the statement of
cash flows and the note5 to the financial Statements, including significant accounting policie5. The financial reporting
framework that has been applied In their preparation is applicable law and United Kingdorn Aetounting Standards,
Including Flnancial Reportlng Standard 102, the Financlal Reporting Standard applicable In the UK and RepLJbllc of
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opSnion the financial statements..
give a true and fair view of the state of the CharIt￿S affairs as at 31 December 2024 and of its incorne and
expenditure for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,.
and
have been prepared in accordance with the requirement5 of the Charitie5 Act 2011, the Charities and Trustee
Investment (Scotlandl Act 2005 and regulation 8 of the Charities Account5 (Scotlandl Regulations 2006 las
amended).
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the
financial 5tatement5 section of our report. We are independent of the Charlty in accordance with the ethital
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standèrd,
and we have fulfilled our other ethical re5pon5ibilities in accordance with these requirements. We believe that the
audit evidence we have obtained is sufficient and appropriate to provlde a basls for our oplnion.
Con¢luslons relating to golng ¢on¢ern
In auditingthe financlal statements, we have concluded that the Trustees, use of the going concern basis of accountlng
in the preparation of the financial Statements is appropriate.
Based on the work we have performed, we have not identified any material uncertaintie5 relating to events or
conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going
concern for a period of at 5east twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilitie5 of the Trustee5 Wlth respect to going concern are described in the relevant
sections of this report.
Other Information
The other information comprises the inforrnation included in the Annual report and financial statements, other than
the financial statements and our auditor's report thereon. The Trustee5 are re5pon5ible for the other information. Our
opinlon on the finan¢lal statements does not cover the other Informatlon and we do not express any form of asslirance
concluslon thereon.

The FlshmongeTS' Company'5 Flsherles ChaTltable Trust
Independent aud5to¢s report to the Trustee5 Icontlnuedl
Other information Icontinuedl
Our responsibilitv 15 to read the other infoTmation and, in doing so, consider whether the other information is
materlally incon51Stentwith the flnancial statements or our knowledge obtained in the Course of the 3LJdit or otherwise
appears to be materially misstated. If we identify such material incon515tencie5 or apparent material mi55tatements,
we are required to determine whether this gives rise to a material misstatement in the financial st3terllents
themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other
Infomiation, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are requlred to report by ex¢eption
In the IiEht of the knowledge and understandSnE of the Charlty and Its envlronment obtalned In the course of the audlt,
we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the
following matter5 in relation to which the Chaiities (Accounts and Reports) Regulation5 2008 requlres us to report to
you If, In our oplnlon..
the information given in the Trustees, Report is inconsistent in any material respect with the financial
Statements,. or
sufficient accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
Resportslbllltlès of Trustees
As explained more fully in the Statement of Trustees, Responsibilities, the Trustees are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such Internal control as
the Trustees determine Is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparlng the flnancial staternents, the Trustees are responsible for a55essing the Charity's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unle55 the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic
alternative but to do so.
Audltor's responslbillties for the audit of the financial statements
We have been appointed as auditor under Section 144 of the Charities Act 2011 and repoTt in a¢tordance with the Act
and relevant regulations made or having effect thereunder. 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
to issue an auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but 15 not a
guarantee that an audit conducted in accordance with ISAS IUKI will always detert a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they
could reasonably be expected to influence the economic decisions of users taken on the ba$15 of these financlal
statements.
IrregularStles, Sncltsding fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material mi5Statements in respect of irregularities, including fraud.
The extent to which our procedures are capable of detecting irre8ularitie5, includin8 fraud is detailed below.
14 | PaBe

The Flshmongerg Company's Flsheries Charitable Trust
Independent audltorfs report to the Trustees Icontlnuedl
AuditOY's responslbillties for the audit of the financial statements Icontinuedl
Our approach to identifying and as5e551n8 the risks of material mi55tatement in respect of irregularities, including
fraud and non-compliance with law5 and regulations, was as follows..
the engagement partner ensured that the engagement team collettively had the appropriate competence,
capabilities, and skills to identify or recogni5e non-compliance with applicable law5 and regulation5;
we identified the laws and regulations applicable tts the Charity through dlscusslons wlth those charged with
governance and other management, and from our knowledge and experlence of the sector,.
we focused on specific laws and regulation5 which we considered may have a direct material effect on the
financial statements or the operations of the Charity, including the Charities Att 2011, the Charltles and Trustee
Investment IS¢otlandl Act 2005 and the financial reportlng framework referred to above,. and
we understood how the Charity is complying with those legal and regulatory frameworks by making enquiries of
management and those responsbble for legal and cornpliance procedure5 and through our review of the mlnutes
of meetlngs of those charged wlth governance.
We assessed the susceptibility of the Charity's financial statements to material misstatement, including obtaining an
understanding of how fraud might occur. Audit procedures performed by the engagement team included..
making enquiries of management a5 to their knowledge of actLJal, suspected and alleged fraud,. and
considering the internal controls in place to mitigate risks of fraud and non-cornpliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we..
performed analytlcal procedures to identify any unusual or unexpected flnancial relationships;
tested journal entries to identify unusual transactions,.
performed substantive testing of expenditure including testing the authorisation thereof; and
a55e55ed whetherjudgement5 and assumptlons made In determining the accounting estlmates were Indicative
of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
included, but were not limited to..
re3din@ the minutes of meetings of those charged with governance,. and
enquiring of those charged with governance and management as to actual and potential litigation and claims.
There are inherent limitations in our audSt procedures described above. The more removed that law5 and regulations
are from financlal tran$3ctlons, the less Ilkely it Is that we would become aware of non-compliance. Audlting
standards also limit the audit procedures required to identify non-compliance with laws 2nd regulations to enquiry of
the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material mi55tatements that arise due to fraud can be harder to detect than those that arise from error as they may
Involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council'5 website at www.frc.org.uk/auditorsresponsibilities. Thi5 description form5 part of our auditor's
report.

The Fishmongers, Company's Fisherles Charltable Trust
Independent audltor's report to the Trustees Icontlnuedl
Use of our report
Thls report Is made solely to the Charlty's Trustees, as a body, In accordan￿ with Part 4 of the Charities IAccounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Trustees those matter5
we are required to State to them in an auditor's report and for no other purpose. To the fullest extent perrnitted by
law, we do not accept or a55ume responsibility to anyone other than the Charity and the Charity's Trustees as a body,
for our audit work, for this report, or for the opinions we have formed.
Buziacott LLP
130 Wooij Street
London
EC2V 6DL
Statutory Audltor
Date.. 20 March 2025
Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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The Fishmongerg Company's Fisherles Charltable Trust
Statement of cash flows for the year ended 31 December 2024
2024
2023
£000
£000
Cash flows from operating activities
Net cash used in operating activities
17601
1931
Cash flows from investing actlvit1è5
Dividends, interest and rents from investments
Purchase of inve5tmerits
223
141
219
220
141
216
Net cash provided by investing activities
Change in cash and cash equivalents in the ieporting period
Cash and cash equivalents at l January
Cash and cash equlvalents at 31 December
15411
713
123
590
172
713
Reconclllatlon of net lexpendlturelllncome to net cash flow from operatlnB actlvltles
Net lexpenditurel income for the reporting period las per the SOFA)
Adjustments for..
Gains on investments
15121
214
1191
12231
11571
12201
75
Dividends, interest and rents from investments
Decrease in debtors
Decrease in creditors
181
{7601
Net tash Lrsed in operating activlties
1931
Analysls of cash and cash equlvalents
Cash at bank and in hand
172
713
Total cash and cash equivalents
172
713
Split between:
Unrestrlcted Funds
Restricted Funds
Endowment Funds
55
636
82
42
35
35
Analysls of changes In net debt
Cash and cash equlvalents at l January
713
590
Cashflows
15411
172
123
Cash and cash equlvalents at 31 December
713
19 | Page

The Fishmongers, Company's Flsherles Charltable Trust
Notes to the financial statements forthe year ended 31 December 2024
I. ACCOUNTING POLICIES
The principal accountlng pollcies 3dopted, judgements and key SoUr￿S of estimation uncertainty in the preparation
of the finant131 statements are as follows..
Basis of Preparation
The accounts have been prepared under the h5storlcal cost convention, as modified by the revaluation of certain fixed
asset investments, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and
Atcountin8 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 IFRS 1021.
The Charity constitutes a Public Benefit Entity as defined by FRS 102.
The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities
IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view, Thi5 departure
has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting
by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn.
The functional currency 15 GBP £(KIO5.
Preparation of the accounts on a Bolng concern ba515
The Trustees have considered the Trust's forecast income and expenditure and c3shflow for the next 12 months and
are sat15fied that the Trust is a going concern and have prepared these flnanclal statements on that basls.
Income
Donation income is recognlsed when the Trust has entltlement to the funds, St Is probable that the income wlll be
received, and the amount can be measured reliably and Is not deferred.
Investment Income, Incltjding Interest, is recognised when receivable. Rents are recognised when receivable.
Fund accountlng
Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated
funds are tjnrestricted funds of the Charity which the Trustees have decided at their discretion to set aside for a specific
purpose. Restrirted funds are donations which the donor has specified are to be solely used for particular areas of
the Trust's work. Endowment funds are funds which must be held indefinitelyi although within limits the capital of
the funds may be spent temporarlly where a Total Return approach has been adopted.
Expèndlture and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is
probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is
classified under the following headings..
Investment Management Fees in Expenditure on Raising funds represents theTru5t'5 Share of fee5 charged
to collective investments scheme5 in which it has holdings where these are clearly identifiable.
Expenditure on Charitable Activities includes both grants awarded and thelr assoclated support costs.
Irrecoverable VAT is charged as a cost against the activity for whlch expendlture was Incurred.

The Flshmongers, Company'5 Flsherles Charltable Trust
Notes to the flnantlal statement5 Icontlnuedl
I. ACCOUNTING POLICIES Itontlnuedl
Allocatlon of support costs
Support Costs are those functions that assist the work of the Trust but do not directly undertake charitable activities.
Support costs include the Trust's share of employment costs for staff jointly employed by the Fishmongers, Company
and the Fishmongers, Companvs Fisheries Charitable Trust, administration expenses, and audit fees. Support costs
have been wholly allocated to Charitable Expenditure.
Investment Propertles
Investment properties are stated at fair value. Realised and unrealised gains are shown in total on the Statement of
Financial Activities.
Investments
Investments are stated at market value. Realised and unreali5ed gains are shown in total on the Statement of Financial
Activities.
Totsl Retur
Where a Total Return approach ha5 been adopted to the management of permanently endowed fund5, income and
gains initially accrue to Unallocated Total Return, whl¢h is part of the endowmentfund. Funds Intended for appllcatlon
are then shown as a transfer to Restricted Funds. Since 2018, the Trustee5' policy is to regard income as available in
full for application. Prior to 2018, the Trustees had budgeted an amount available for appllcatlon as 3pproxlmately
2.5% of the forecast opening market value of the capital.
Debtors
Trade and other debtors are recognised at the settlement arnount due.
Credltors and provlslons
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that
will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount due.
Flnanclal Instruments
The Trust has only financial assets and financial liabilitie5 of a kind that qualify a5 basic financial instruments. Basic
financial instruments are initially recognised at transaction value and subsequently measured at their settlement value
except for investments which are stated at fair value.
Penslons
The Trustjointly employs staff with the Fishmongers, Company and the FishmongeTS' CompanVs Charitable Trust. The
Fishmongers, Cornpany meets the obligations of the employers in respect to auto enrolment legislation.
Accountlng est5mates and judgements
In respect of the next reporting period the m05t significant areas of uncertainty that affect the carrying value of a55et5
are the level of investment return and the performance of investment markets.

*1 The F5shmongerg Company's Flsheries Charltable Trust
Notes to the fSnanclal statements Icontinuedl
2. DONATIONS
2024
2023
£000
EOOO
Unrèstricted funds
Donations from the Fishmonger5' Company
920
Donation from the FishmonEers' Company Charitable Trust
871
450
Other donations
26
878
1,395
Restrlrted funds
Simmonds Water Quality
Total donations
13
13
891
1,408
3. RENTAL INCOME
2024
2023
£000
£000
Total rental intome
loo
loo
In December 2018 the Trust was gifted a 10-year lease over an investment property with a net rent of £IOOk which
ha5 been valued at £300k at 31 December 202412023: £380kl.
4. INVESTMENT INCOME
2024
2023
£LYJO
£000
Restricted invèstment Income
Simon Birch Memorial Fund
Unrestrlcted Investment Income
116
114
Total Investment income
123
120

•1 The FlshmonEèYs' Company'5 Flshèrles charltable Tyust
Notes to the flnanclal statements Icontlnuedl
5. GRANTS
2024
£000
2023
£000
Industry Science
Targeted Academic Sponsorship
UK River Woods
Fisherie5 Management Plans
Oceans International Good Practice
Marine Habitats
Good Practice National
5GHA
School Educatlon
150
147
130
174
145
158
iio
92
70
68
65
60
50
49
91
Aquaculture Industry Engagement and Research
Missing Salmon Allian
Parliamentary Group5
Dlscover Seafood
Water Quality Coordination
Farm Clusters
45
70
40
45
45
40
41
39
40
35
Discretionary Grants
Welfare and Safety
Bermuda Institute of Ocean Science5
Co-management
Ocean Projects UKOTS etc
Rights and Local Authorities
Industry Leaders CPD
Small Grants1<£5kl
Grants to organSsations
29
27
20
30
io
io
60
42
30
17
14
20
1,130
1,221
Good Practice National
Small Grants1<£5kl
Grants to individuals
li
19
Apportioned 5UPPOrt C05tS
Grant returned due to be relssued
Total Grants
52
1241
1,268
49
1,186
Expenditure on grant5 was £1,216k12023.. £1,137kl of which £1,236k was unrestricted 12023.. £1,128kl and 1£24kl
restricted whlch was a grant returned and is due to be reissued12023.' £9kl. An apportloned support cost of £52k
12023.. £49kl has been added to this total bringing tot21 grant expenditure to £1,268k12023.' £1,186kl.
Multl-year grants are not awarded.

•j The Fishmongers, Company'5 Flsherles Chèrltable frust
Note5 to the financial statèment5 Icontlnued
6. FISHERIES PROGRAMME WORK
2024
2023
£000
£000
Fisheries Programme Work
Programme Work Support Costs
j Total Fisheries Projects
14
45
368
344
382
389
Expenditure on fisheries projects was £382k12023.' £389kl all of which was unrestricted12023: £388k was unrestricted
and Elk restrictedl.
7. ANALYSIS OF SUPPORT COSTS
2024
Grants
Fisheries Projects
£000
Total
£000
£000
staff Costs
Administration expenses
Car expenses and travel
Other expenditure
Total Support Costs
42
294
336
50 1
18
14
418
44
16
12
366
52
2023
Grants
Flsherles Projects
£000
278
42
12
12
Total
£000
£000
39
staff Costs
Administration expenses
Car expen5e5 and travel
Other expenditure
Total Support Costs
317
48
14
14
49
344
393
All support costs were unrestricted.
Staff Costs comprise the Trust's share of the employment C05t of staff who are also jointly employed by the
Fi5hmongers' Company and also the Fishmongers, Company's Fi5herie5 Charitable Trust. The payroll is administered
by the Fishmongers, Company and the appropriate proportion of the employment cost5 of the relevant employees Is
recharged to the Trust.
Adrninistration expenses relate to the provision of other administrative support services to the Trust by the
Fishmongers, Company in connection with the operation and implementation of the objective5 of the Trust, the
management of the Trust'5 assets and compliance with constitutional and statutory requlrements. Governance costs
comprising an audit fee of £llk12023- £llkl are Included under thls heading.
24 | Page

The Flshmon8ers' Company'5 Fisherie5 Charltable Trust
Note5 to the financlal statements Icontinuedl
ANALYSIS OF STAFF COSTS
2024
2023
£000
£000
Salaries and wages
Soclal security costs
Other employment costs
Total Staff Costs
246
233
28
26
62
58
336
317 1
There was one employee for whom the Trust's share of employee benefits excluding Nl and pension contributions was
between £80k and £90k12023.' One between £70k and £80kl
Staff Costs includes £138k 12023.. £129kl in respect of the proportion of remuneration lincluding Nl and pension
contributions) of the Tru5t'5 Key Management personnel which was recharged from the Fishmongers, Companv.
The proportion of staff costs that were recharged to the Trust represent approximately 4 people12023= 4.31.
9. INVESTMENT PROPERTIES
2024
2023
£000
£000
Value at l January
Revaluation
Value at 31 December
380
1801
300
450
1701
380
In December 2018, the Trust was gifted a share of a leasehold Interest in the City of London. The valuation at 31
December 2024 wa5 carried out by Clutton5 LLP, a firm of Surveyors with significant, relevant experien￿ in valuing
long leases in the City. The valuer wa5 a member of RICS. The valuation was paid for by the Fishmongers, Company,
which a150 hold5 a Share in the lease.

•4 The Fishmongers, Company's Fislierles Cha¥itablè Trust
Notes to the financial staternent5 (continued)
10. INVESTMENTS
2024
EOOO
3,877
132
1291
3,980
2023
£000
3,646
260
1291
3,877
Market Value at I january
Reali5ed and unrealised gains
Investment management fees
Market value at 31 December
Conslsting of..
Unrestricted funds
Endowment funds
Total funds
946
3,034
3,980
921
2,956
3.877
Investments In Unit Trusts are quoted at their Bid Price at year end. Investment management fees represent the
Trust's notional share of fees charged to its hDldinES in collective investment funds. They have been calculated by
applying the publlshed Ongoing Charges Flgure to a simple average of each fund's value (opening balance plus closing
balance dlvlded by twol. Investment management fees are deducted from the capital of each of the funds held and
the gains and losses shown in the financial statements have therefore been grossed up by the amount of the notional
fee.
11. DEBTORS
2024
2023
£000
£000
Prepayment5 and accrued income
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£000
£000
Accruals and deferred incorne
Amount due to the Fishmongers, Companv
Trade creditors
41
41
49
57
95
103

The Fishmongerg Company's Flsherle5 Charitable Trust
Notes to the flnanclal statements l¢ontlnuÈdl
13. MOVEMENT IN UNRESTRICTED FUNDS
2024
Balance
l January
£000
Balance
31 December
£000
Income
£000
Expenditure Losses
£000
£000
Income Fund:
General Funds
1,848
1,848
1,095
1,095
11,6771
(1,6771
1481
1481
1,218
1.218
2023
Balance
I january
£000
Balance I
31 December I
£000
Income
Expenditure
£000
Losses
£000
£000
Income Fund:
General Funds
1,821
1,821
1,609
1,609
11,5721
{1,5721
iioi
liol
1,848
1,848

l The Flshmongers, Company's Flsheries Charitable Trust
Notes to the flnanclal statements Icontlnuedl
14. MOVEMENT IN RESTRICTED FUNDS
2024
Balance
Balante
31 December
£000
l January Income
£000
Expenditure Transfers
£000
£000
l Mindfully Wired
Simmonds Water Quality
Simon Birch Memorial Fund
24
24
13
21
22
25
30
13
20
70
2023
Balance
I january Income
£000
£000
Balance
31 December
Expenditure Transfers
£000
£000
151
151
liol
£000
Seafarers Donation
Simon Birch Memorial Fund
13
21
22
21
13
30
The Slmon Blrch Memorlal Fund exlsts to support flsh research projerts at the Natvral History Museum in London.
The transfer5 represent the 3mount of unapplied total return of the permanent endowment capital that wa5
allocated to income.
281 Page

The Flshmongerg Company's Flsherles Charltable Trust
Notes to the flnanclal statements Icontlnuedl
15. MOVEMENT IN ENDOWMENT FUNDS
Permanent Endowment Total Return
Trust for
Unapplied
Total
Return
Total
Investment
Endowment
£￿0
£000
£000
At l January 2024..
Gift component of the permanent endowment
Unapplied total return
Total at l January 2024:
Investment return.. dividends
Investment retUFn.' unrealised gains
Total return in 2024:
Unapplied total return allocated to income in 2024
Net movements In 2024:
At 31 December 2024:
Gift component Of the permanent endowment
Unapplied total return
Total
147
147
106
106
147
106
253
12
12
147
147
iii
iii
147
iii
258
Trust for
Unapplled
Total
Totèl
Investment
£000
Return
£000
Endowment
£000
At l January 2023:
Glft component of the permanent endowment
Unapplied total return
Total at l January 2023:
Investment return: dividends
Investment return: unrealised gain5
Total return In 2023:
Unapplied total retLJrn 311otated to income in 2023
Net movements in 2023:
147
147
86
86
147
86
233
20
20
26
161
20
26
161
20
At 31 December 2023:
Gift component of the permanent endowment
Unapplied total return
Total
147
147
106
106
147
106
253

The Flshmongerg Company's Fisherles Charltable Trust
Note5 to the flnanclal statements Icontlnuedl
15. MOVEMENT IN ENDOWMENT FUNDS Icontlnuedl
Endowment Funds
2024
Balance I
January Income
£000
£000
Balance 31
December
£000
Expenditure
Gains
£000 £000
Transfer
£000
Permanent endowment
Expendable endowment
253
258
2,738
2,991
1221
1221
95
2,811
3,069
loo
171
2023
Balance I
January Income
£000
£000
Balance 31
December
£000
Expenditure
£000
Gains
£000
Transfer
£000
161
Permanent endowment
Expendable endowment
233
20
253
2,738 i
2.991
2,580
2,813
1221
1221
180
200
161
The Simon Birch Memorial Fund (permanent endowment) exists to support fish research projects at the Natural
Hlstory Museum Sn London. The transfers represent the amount of unapplied total return of the perrnanent
endowment capltal that was allocated to income.

The Flshrnongers, Company's Flsherles Charltable Trust
Notes to the financlal statements Icontlnuedl
16. CONNECTED CHARITIES AND RELATED PARTIES
The Trust shares Trustees with the Fishmongers, Company's Charltable Trust, which donated £871k12023: £450kl.
There were no donatlOF15 received from the Trustees12023'. £920kl.
A payment of administration charges of £50k12023'. £48kl was made to the Fishmongers, Company. At year-end,
there was a balance due to the Fishmongers, Company of £49k12023'. £5kl.
Employees of the Tru51 sit on the boards and the equivalent bodies of a number of the Trust'5 beneficiaries. Each
position Is perlodlcally assessed against a risk management framework designed to ensure that such appointments
are in the best interests of the Trust and conflicts of interest are appropriately disclosed and managed.
Staff Member
Benefl¢iary
Posltion Held
2024 2023
Grant
£000 £000
Andrew
Wallace
Atlantic Salmon Trust
Vice President
UK River Woods
30
io
Missing Salmon Alliance
Discretionary Grants
Targeted Academlc
Sponsorship
15
Atlantlc Salmoh Trust Total
54
14
Andrew
Wallace
Andrew
Wallace
Andrew
Wallace
Tweed Forum
Director
UK Rlver Woods
35
50
UK Seafood Federation (formerly
SGHAI
Director
SGHA
65
Fisheries Innovation and
Sustainability
Director
Good Practice National
25
42
Ocean Prolects UKOTS
etc
F15heries Innovation and Sustainability Total
Judge, MSC UK
Awards
25
50
Dr Eleanor
Adam50n
Marine Stewardship Council
Industry Science
45
Fisheries Management
Plans
Marine Stewardshlp Councll Total
All-Party Parlaamentary Group on
Flsherles
52
Dr Eleanor
Adarnson
Dr Eleanor
Adamson
Expert Panel Chair
Parliamentary Groups
Targeted Academic
Sponsorship
NHM Simon Birch Fund
45
40
Natural History Museum
Scientific Associate
io
Natural Hlstory Museum Total
14
Sharmin Rouf
Fishing into the Future
Observer
Fisheries Management
Plans
Marlne Habitats
Co-management
49
io
20
60
Fishing into the Future Total
Seafood Grlmsby and Humber
Alliance
69
70
Gavin
O'Donnell
Co-lead, Carbon Sub-
Group
SGHA
65