2021-10-31-accounts - River Thames Society

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REGISTERED COMPANY NUMBER: 01747301 (England and Wales) REGISTERED CHARITY NUMBER: 288380

River Thames Society

Trustees' Report and

Financial Statements for the Year Ended 31 October 2021

Ian S Anderson, Chartered Accountant Chartam House

16 College Avenue Maidenhead Berkshire SL6 6AX

River Thames Society

Contents of the Financial Statements for the Year Ended 31 October 2021

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

River Thames Society

Reference and Administrative Details for the Year Ended 31 October 2021

TRUSTEES	Peter Finch Chairman of Council
	Rupert Bagilhole
	Jack Betteridge
	Leslie Jones OBE
	David Lambert
	Jackie Lambert
	Hilary Pereira
	Colin Reynolds
	Gillian Rix
	John Skuse
	John Tamsitt
	Wendy Yorke (resigned 10.4.21)
	Abigail Reynolds
	Roy Miller
	Thomas Berman
	Peter Hall (appointed 19.4.21)
COMPANY SECRETARY	Guy Barlow
REGISTERED OFFICE	Beaumont House
	28 Beaumont Road
	Windsor
	Berkshire
	SL4 1JP
REGISTERED COMPANY	01747301 (England and Wales)
NUMBER
REGISTERED CHARITY	288380
NUMBER
INDEPENDENT EXAMINER	Ian S Anderson, Chartered Accountant
	Chartam House
	16 College Avenue
	Maidenhead
	Berkshire
	SL6 6AX
PRESIDENT	Lord Owen CH FRCP
VICE-PRESIDENTS	Lady Borwick
	Mark Edwards MBE
	Sir David Suchet CBE

Page 1

River Thames Society (Registered number: 01747301)

Trustees' Report

for the Year Ended 31 October 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activities of the charity continue to be to:

Protect the natural beauty of the River Thames, adjacent lands and buildings of historic interest
Promote nature conservation
Support and contribute to the efforts of other organisations with similar interest in the river
Preserve and extend amenities which allow and encourage the use of the river for all purposes

Achievements and performance

During the year the Society undertook a range of activities in support of our aims to protect and promote the Thames.

We worked with many other bodies, including the Environment Agency, Port of London Authority, Thames Path Partnership, Thames & London Waterways Forum and the Thames Rivers Trust.

We kept in touch with MPs in riparian constituencies, relevant Ministers and " Shadow " Ministers on matters affecting the river.

Social,cultural and educational activities were organised. Our River Wardens continued to monitor the Thames Path and we maintained the length of river bank we own near Marlow.

Public benefit

The Directors took note of the Charity Commissioners' guidance on public benefit by providing a range of talks, displays, information stands and a quarterly magazine to inform the public on the ways the Society safeguards the river. A large amount of information was given on request to members of the public, broadcasting and educational bodies. We continued to make annual awards to individuals and organisations making a significant contribution to the river and gave grants to a range of youth, sporting and environmental bodies.

Financial review

The Statement of Financial Activities for the year on page 6 shows net income for the Society of £26,014 (2020 £4,840). All of the funds received during the year were unrestricted funds and which could be used to enable the charity to meet its running costs and to allow the trustees to utilise funds for relevant charitable purposes.

During the year the trust generated the following income;

1) Donations and subscriptions totalling £36,716 (2020- £23,888) were raised, including a legacy receipt of £15,000.
2) Income generated from the Thames Guardian magazine and merchandise sales totalled £8,480 (2020 - £5,953).
3) Events realised income of £3,345 (2020 - £4,729).
4) Investment income in the form of bank interest totalled £1,476 (2020 - £343). The increase in value of the COIF Units in the Charities Ethical Investment Fund was £8,417 (2020 - £2,195).

The Thames Guardian magazine realised a deficit of £3,176. The magazine has historically made a surplus for use towards charitable activities, with the added advantage that it also saves the cost of a separate members newsletter. Whilst income has increased in 2021 there was a significant increase in costs, as the publishers suffered a downturn in advertising revenue since the Covid-19 crisis commenced.The Directors are liaising with the publishers and would hope that in the longer term the magazine will move back into surplus.

Included in charitable expenditure is £2,000 defrayed on a grant for Skerries for Schools, as shown in note 5 to the financial statements.

There were no movements in fixed assets in the year, save depreciation on existing assets.

As at 31 October 2021 total generated funds were £204,638 (2020 - £179,124), all of which is unrestricted funds.

Page 2

River Thames Society (Registered number: 01747301)

Trustees' Report

for the Year Ended 31 October 2021

OBJECTIVES AND ACTIVITIES

Investment performance

The charitable company's basic investment objective is to maintain the real value of its investments and to maximise income. In order to do this, the charity has invested surplus funds in the COIF Charities Ethical Investment Fund Accumulation Units, with further excess funds being placed in a deposit account which is both a safe investment and gives a reasonable rate of return, although at present the return is impacted by the low rates of interest on offer from Banks & Building societies.

Reserves policy and going concern

The charitable company's net income for the year ended 31 October 2021 totalled £25,514 (2020 £4,840). This includes accumulated unrealised profits on investments of £8,417. The balance on the unrestricted income fund at 31 October 2020 was £204,638 (2020 £179,124). There was no balance held on restricted funds.

The Directors regularly review the reserves policy, based upon current levels of expenditure and income, and are actively seeking to make grants to worthy individuals and organisations which fall within the charitable company's remit. The policy is to ensure unused surplus funds do not accumulate whilst allowing for risks to income flows resulting from damage to reputation and the effects of a severe recession reducing membership and donations. The River Thames Society does not intend to be a reserves-rich charity and in any event, the Society's current activities do not require this. The trustees consider that adequate resources will continue to be available to fund the activities of the Society for the foreseeable future and view the charity as a going concern.

FUTURE PLANS

The future aims of the Society are to extend current activities, develop educational work, increase our presence at river-related events and support for initiatives of benefit to the wider river community.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The financial statements comply with the Charities Act 2011, the Companies Act 2016 and the Memorandum and Articles of Association. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 (effective 1 January 2015).

Trustee directors and other appointments

The trustee directors serving on the River Thames Society Council are shown on page 1.

The Chairman of the Council is Peter Finch.

The president and vice presidents (which are non-directorship appointments) serve three-year terms. The year in which they become due for re-election is published in each year's notice of Annual General Meeting. The elective directors also serve three-year terms. The year in which their terms of office cease are published in each year's notice of Annual General Meeting. All other directors are elected annually.

Organisation and structure

River Thames Society is a registered charity and is a registered company limited by guarantee. The company was incorporated and is governed by its memorandum and articles of association dated 22 August 1983. The charity was registered with the Charity Commission on 23 January 1984.

The Society consists of five branches covering the whole of the river from the source to the sea. It is governed by a council, which consists of the chair of each branch and members elected for a term of office at each Annual General Meeting by the members.

Risk management

The trustees have a risk management strategy which comprises:

an annual review of the principal risks and uncertainties that the charity faces;
the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise

Page 3

River Thames Society (Registered number: 01747301)

Trustees' Report

for the Year Ended 31 October 2021

INDEPENDENT EXAMINER

Ian S Anderson was appointed Independent Examiner at the last Annual General Meeting.

Approved by order of the board of trustees on 24 February 2022 and signed on its behalf by:

Guy Barlow - Secretary

Page 4

Independent Examiner's Report to the Trustees of River Thames Society

Independent examiner's report to the trustees of River Thames Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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

Ian S Anderson BA FCA FCCA on behalf of Ian S Anderson, Chartered Accountant Chartam House 16 College Avenue Maidenhead Berkshire SL6 6AX

Date: .............................................

Page 5

River Thames Society

Statement of Financial Activities for the Year Ended 31 October 2021

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 36,716 Other trading activities 3 11,825 Investment income 4 1,476 Total 50,017 EXPENDITURE ON Raising funds 11,434 Charitable activities Charitable expenditure 21,486 Total 32,920 Net gains on investments 8,417 NET INCOME 25,514 RECONCILIATION OF FUNDS Total funds brought forward 179,124 TOTAL FUNDS CARRIED FORWARD 204,638	Restricted fund £ - - - - - - - - - - -	2021 Total funds £ 36,716 11,825 1,476 50,017 11,434 21,486 32,920 8,417 25,514 179,124 204,638	2020 Total funds £ 23,888 10,706 343
			34,937 13,098 19,193
			32,291 2,194
			4,840 174,284
			179,124

The notes form part of these financial statements

Page 6

River Thames Society (Registered number: 01747301)

Balance Sheet

31 October 2021

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 4,990 Investments 10 46,490 51,480 CURRENT ASSETS Stocks 11 2,197 Debtors 12 1,828 Cash at bank and in hand 150,948 154,973 CREDITORS Amounts falling due within one year 13 (1,815) NET CURRENT ASSETS 153,158 TOTAL ASSETS LESS CURRENT LIABILITIES 204,638 NET ASSETS 204,638 FUNDS 14 Unrestricted funds TOTAL FUNDS	Restricted fund £ - - - - - - - - - - -	2021 Total funds £ 4,990 46,490 51,480 2,197 1,828 150,948 154,973 (1,815) 153,158 204,638 204,638 204,638 204,638	2020 Total funds £ 5,390 38,074 43,464 1,990 3,540 131,346 136,876 (1,216) 135,660 179,124 179,124 179,124 179,124

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 7

River Thames Society (Registered number: 01747301)

Balance Sheet - continued

31 October 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 24 February 2022 and were signed on its behalf by:

Peter Finch - Trustee

The notes form part of these financial statements

Page 8

River Thames Society

Notes to the Financial Statements for the Year Ended 31 October 2021

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The accounts are prepared on the going concern basis.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of:

the date on which the charity is aware that probate has been granted;
the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution
will be made; or
when a distribution is received from the estate.

Donated services and facilities are recognised as income when the charity has control over the item. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity and a corresponding amount is then recognised in expenditure.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Costs of Generating Funds - Fundraising costs represent the costs of raising funds and include the costs of annual fundraising dinners and events and relevant administration costs.

lrrecoverable VAT - lrrecoverable VAT is charged to the Statement of Financial Activities in the period in which it arises.

Charitable expenditure - Charitable expenditure comprises the costs of carrying out the Society's Activities and includes the costs of producing the Thames Guardian magazine and charitable grants.

Central administration & Governance costs - Central administration costs not directly attributable to any particular activity are spread equally between fundraising and publicity and charitable expenditure. Governance costs are split in proportion to direct costs in a similar manner.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - not provided Equipment - at variable rates on reducing balance Cutter - 15% on reducing balance

continued...

Page 9

River Thames Society

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

1. ACCOUNTING POLICIES - continued

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Debtors

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

Cash in hand

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

Investments

Listed Investments are valued at market value.

lnvestment lncome is stated net of any unreclaimable tax credits.

2. DONATIONS AND LEGACIES

3.

Donations Gift aid Legacies Subscriptions OTHER TRADING ACTIVITIES Fundraising events Sale of merchandise Thames Guardian magazine Other income - cutter	2021 £ 805 2,851 15,000 18,060 36,716 2021 £ 3,345 328 8,152 - 11,825	2020 £ 1,003 2,700 2,528 17,657
		23,888
		2020 £ 4,729 139 5,814 24
		10,706

continued...

Page 10

River Thames Society

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

4. INVESTMENT INCOME

4.	INVESTMENT INCOME
		2021	2020
		£	£
	Deposit account interest	1,476	336
	COIF interest	-	7
		1,476	343
5.	GRANTS PAYABLE
		2021	2020
		£	£
	Charitable expenditure	2,000	1,100
	The total grants paid to institutions during the year was as follows:
		2021	2020
		£	£
	Molesey Sea Scouts - Special award	-	250
	Richmond Canoe Club - Special award	-	250
	Oxford Blue Plaques - Abel Beesley plaque	-	100
	Kingston Maritime Volunteers - River rescue equipment	-	500
	Skerries for Schools	2,000	-
		2,000	1,100

NET INCOME/(EXPENDITURE)
The above includes the
following charges:	2021	2020
	£	£
Independent examiner's fees	1,080	990
Depreciation of fixed assets	400	470

Governance costs totalled £1,198 reflecting the costs of AGM and trustee meetings, accountancy support and independent examination. These costs have been apportioned equally between the two expenditure categories detailed in the Statement of Financial Activities.

In addition to the financial transactions, the Directors wish to acknowledge the considerable amount of time given voluntarily by members towards the work of the Society.

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2021 nor for the year ended 31 October 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2021 nor for the year ended 31 October 2020.

continued...

Page 11

River Thames Society

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 23,888 Other trading activities 10,706 Investment income 343 Total 34,937 EXPENDITURE ON Raising funds 13,098 Charitable activities Charitable expenditure 19,193 Total 32,291 Net gains on investments 2,194 NET INCOME 4,840 RECONCILIATION OF FUNDS Total funds brought forward 174,284 TOTAL FUNDS CARRIED FORWARD 179,124 9. TANGIBLE FIXED ASSETS Freehold property Equipment £ £ COST At 1 November 2020 and 31 October 2021 2,727 1,308 DEPRECIATION At 1 November 2020 - 1,307 Charge for year - 1 At 31 October 2021 - 1,308 NET BOOK VALUE At 31 October 2021 2,727 - At 31 October 2020 2,727 1	Restricted fund £ - - - - - - - - - - - Cutter £ 10,621 7,959 399 8,358 2,263 2,662	Total funds £ 23,888 10,706 343
		34,937 13,098 19,193
		32,291 2,194
		4,840 174,284
		179,124
		Totals £ 14,656 9,266 400 9,666 4,990 5,390

continued...

Page 12

River Thames Society

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	COIF
	Ethical
	Investment
	Fund
	£
MARKET VALUE
At 1 November 2020	38,074
Revaluations	8,416
At 31 October 2021	46,490
NET BOOK VALUE
At 31 October 2021	46,490
At 31 October 2020	38,074
There were no investment assets outside the UK.
Cost or valuation at 31 October 2021 is represented by:
	COIF
	Ethical
	Investment
	Fund
	£
Valuation in 2012	367
Valuation in 2013	3,181
Valuation in 2014	1,117
Valuation in 2015	1,764
Valuation in 2016	3,412
Valuation in 2017	2,939
Valuation in 2018	1,687
Valuation in 2019	4,292
Valuation in 2020	2,195
Valuation in 2021	8,416
Cost	17,120
	46,490

Fixed asset investments is represented by 9,632.30 COIF Charities Ethical Investment Fund Accumulation Units purchased for £17,120 on 6 September 2012.

continued...

Page 13

River Thames Society

Notes to the Financial Statements - continued for the Year Ended 31 October 2021


	2021	2020
	£	£
	1,828	1,990
	=====	=====

2021 2020 £ £ 1,828 3,540 2021 2020 £ £ 1,815 1,216 Net movement At in funds 31.10.21 £ £ 25,514 204,638 25,514 204,638 Gains and Movement losses in funds £ £ 8,417 25,514 8,417 25,514 Net movement At in funds 31.10.20 £ £ 4,840 179,124 4,840 179,124

continued...

Page 14

River Thames Society

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	34,937	(32,291)	2,194	4,840
TOTAL FUNDS	34,937	(32,291)	2,194	4,840

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund TOTAL FUNDS	At 1.11.19 £ 174,284 174,284	Net movement in funds £ 30,354 30,354	At 31.10.21 £ 204,638 204,638

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	84,954	(65,211)	10,611	30,354
TOTAL FUNDS	84,954	(65,211)	10,611	30,354

The net movement in funds as shown on page 6 as required by the Charity's Statement of Recommended Practice is a surplus of £25,514 (2020 - £4,840). The surplus for Companies Act 2006 purposes is £17,097 (2020 - £2,646) reflecting the amount before the unrealised gain (2020 gain) on revaluation of investments.

There were no Restricted Funds arising in the year.

The Unrestricted Funds consist of Branch and Headquarters' Funds

31.10.20 Surplus/Deficit Transfers 31.10.21	31.10.20 Surplus/Deficit Transfers 31.10.21	31.10.20 Surplus/Deficit Transfers 31.10.21
for the year
£ £ £		£
Branch Funds
Upper Thames	2,093 5 0	2,098
Middle Thames	5,341 (157) 0	5,184
Teddington/Old Windsor	2,337 (43) 0	2,294
Upper Tideway	211 (18) 0	193
Central Tideway & Estuary	1,070 0 0	1,070

Page 15

continued...

River Thames Society

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

14. MOVEMENT IN FUNDS - continued

Branches Total	11,052	11,052	(213) 0	(213) 0	10,839	10,839
Headquarters	147,117		17,311 0		164,428
Revaluation Reserve		20,955		8,416 0		29,371
	179,124		25,514 0		204,638

15. CAPITAL COMMITMENTS

At 31 October 2021 the company had authorised and contracted for capital expenditure of £Nil (2020 £Nil).

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2021.

17. LEGAL STATUS OF THE CHARITABLE COMPANY

The Society is a company limited by guarantee and does not have a share capital. Members have guaranteed contributions of an amount not exceeding £1 to the assets of the Society in the event of its dissolution. The total number of members at 31 October 2021 was 849 (2020 - 847) representing 471 individuals (including 28 life members), 316 families (including 5 life membership), 3 students, 44 clubs and 15 corporate organisations.

Page 16