## **THAMES RIVERS TRUST**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021**
**Charity Registration Number: 295138**
1
THAMES RIVERS TRUST
## **TRUSTEES’ ANNUAL REPORT AND FNANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021**
|**CONTENTS**|**PAGES**|
|---|---|
|Charity Information|3|
|Trustees’ Annual Report|4|
|Treasurer’s Report|6|
|Statement of Trustees’ responsibilities|7|
|Independent Examiner’s report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the accounts|11|
2
THAMES RIVERS TRUST
## **CHARITY INFORMATION FOR THE YEAR ENDED 31 March 2021**
## **TRUSTEE COMMITTEE MEMBERS**
Dr Anne Margaret Powell OBE Leslie Jones OBE Christopher Poupard Dr Alastair Ferguson Dr Peter Spillett David Wardle (Chair) Lou Kizwini
## **REGISTERED ADDRESS**
TRT PO Box 4248 Marlborough SN8 9FH
## **CHARITY REFERENCE NUMBER**
295138
## **ACCOUNTANTS**
SPX Oxford Ltd Peace House 19 Paradise Street Oxford OX1 1LD
3
THAMES RIVERS TRUST
## **TRUSTEES ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 March 2021**
The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the applicable law.
## **Constitution and objects**
The Trust was originally constituted under a trust deed, dated 16 July 1986, and registered as a charity with the name The Thames Salmon Trust. In April 2005, to expand the aims and effectiveness of the Trust, the name was changed to The Thames Rivers Restoration Trust with the objects broadened to cover the conservation, protection and rehabilitation of the habitat and waters that constitute the River Thames catchment for the benefit of all indigenous species (including Atlantic Salmon and migratory trout) and to advance the education of the public in the understanding of river environments on watercourses throughout the River Thames catchment. In 2012 the name was shortened to Thames Rivers Trust and various updates made to the Trust’s governing processes as contained in an Amendment Deed. The Thames Rivers Trust constitutes a public benefit entity as defined by FRS 102.
## **Governance**
The Trust continued to develop its partnership with five other river trusts in the Thames Region, viz. Action for the River Kennet (ARK), Cotswolds River Trust (CRT), River Thame Conservation Trust (RTCT) and South East Rivers Trust (SERT including the Wandle Trust), Thames 21 (T21). A Management Committee (MC) meeting scheduled from April 2020 was postponed due to the COVID-19 pandemic. The MC met via Zoom on three occasions during the financial year, in July and November 2020 and February 2021. The concept of the MC and Trustees meeting together continued to work well.
The Annual General Meeting (AGM) was held via Zoom on 20[th] July 2020, after a Management Committee Meeting. At the AGM Dave Wardle was re-elected for the role of Chairman. Chris Poupard was re-elected as Vice – Chairman and Les Jones agreed to continue as Hon.Treasurer. Dave Wardle proposed Lou Kizwini as a new Trustee and this was unanimously supported by existing Trustees present. The accounts were prepared by SPX Oxford Ltd and were approved at the AGM. Dr Peter Spillett continued to represent the Trust on Thames Water's Water Resource Forum and took on representing the Trust at the South East Consultation Group to give input in WRSE.
The Trust remains a full member of The Rivers Trust, the national umbrella organisation of River Trusts, and Anna Forbes, our administrator, represented TRT at various Zoom meetings including the Spring Conference in March 2021.
## **Procedure for appointing Trustees**
The power of appointment is held by the Trustees who put forward suggestions having taken into consideration the skills and experience necessary. After a unanimous decision an approach is made by the Chairman to ensure that any prospective candidate is eligible in terms of all legal and regulatory requirements as laid out by the Charity Commission and that the individual accepts his or her duties and responsibilities in the position of Trustee and makes a commitment to continue and enhance the implementation of the objectives of the Trust. A “Deed of Appointment of a New Trustee” is drawn up using forms available from the Charity Commission and signed by the prospective Trustee in front of a witness. The new appointment is noted in the minutes of the next Trustees meeting and updated to the Charity Commission. Once appointed Trustees are asked to familiarise themselves with the Charity Commission’s advice for new Trustees.
## **Risk management**
A risk management plan is in existence and is kept under review. The main risk to the Trust is maintaining income, particularly during the current times of uncertainty due to the COVID-19 pandemic. To mitigate risk the Trust continues to maintain minimal expenditure and is actively seeking new sources of funding from major corporate organisations that support the strategic approach that the Trust has continued to develop.
4
THAMES RIVERS TRUST
## **Achievement, performance and plans for future periods**
Dr Peter Spillett continued to represent the Trust on Thames Water’s Water Resource Forum and took on representing the Trust at the South East Consultation Group to give input in Water Resources South East (WRSE).
Anna Forbes has continued to serve as TRT Administrator during the year and from December additionally took on a Project Manager role for the Thames Catchment Community Eels Project. Her contract was renewed in December 2020 and runs until 31[st] March 2022. She has continued to:
1. provide administrative and bookkeeping support to the MC, Chairman and Trustees
2. populate the Trust website and publicise the Trust using social media
3. represent the Trust at appropriate meetings
and has been successful with the Green Recovery Challenge Fund grant application
Through the new Project Manager role, she has:
4. begun Project managing the Thames Catchment Community Eels Project
## **Thames Catchment Community Eels Project**
After a successful £250k application to the Green Recovery Challenge Fund, we began this exciting new collaborative project.
Thames Catchment Community Eels project is a partnership, led by Thames Rivers Trust with Action for the River Kennet, South East Rivers Trust and Thames21. We are working together to aid the long-term survival of the European eel. Through new citizen science monitoring we will be collecting and analysing robust data, to be used for strategic decisions for future eel recovery projects.
Through education and engagement with local schools and communities we are raising the profile of this Critically Endangered fish.
The Trust and our project partners are working closely with the Zoological Society of London and Thames Estuary Partnership.
This project is funded by the government’s Green Recovery Challenge Fund. The fund is being delivered by The National Lottery Heritage Fund in partnership with Natural England and the Environment Agency.
## **Thames Catchment Forum**
Zoom meetings were held in August and November. The Forum continues to provide the platform for the EA and Thames Water to give an overview of progress towards Water Framework Directive (WFD) objectives and keeping members informed and contributing to Thames Water Plans. The Forum has also provided an ideal setting for members to efficiently communicate, give presentations to share information, ask and answer questions and link up where useful.
## **Financial commitments**
During the year the Trust received £2,500.00 from Thames Water’s Emergency Fund, £1,000.00 from John Swire and £100.00 from The Computer Group.
The Trust received 50% of the Green Recovery Challenge Fund funding (£125,000.00), this is restricted funding for the Thames Catchment Community Eels Project.
The designated Thames Rivers Trust Development Fund is held for developing the Trust and its projects.
## **Treasurer’s report**
## **Financial review and investment policy**
2020/21 was a very satisfactory year financially for TRT against the background of uncertainty surrounding the Covid 19 pandemic.
5
## THAMES RIVERS TRUST
Income for the year was £128,833 with the main element being receipt of £125,000 representing 50% of the funding for the Thames Catchment Community Eels Project. This project which will promote the sustainability of the threatened eels’ population in a community context was a significant development for the Trust.
Expenditure for the year totalled £19,329. Expenditure on the Eels Project will accelerate in 2021/22. Unrestricted funds expenditure covering fundraising, running costs and project costs was £7348. The securing of unrestricted funds in future years remains a challenge for the Trust.
There are no restrictions on the Charity’s power to invest. The present funds are held in interest bearing bank accounts.
## **Reserves policy**
The Trustees’ policy is to hold a reserve in general funds to cover running costs for at least six months and this is secure at the current level of operation. However, for the Trust is to expand and fulfil future objectives, further fundraising will be essential. TRT continues to actively seek support from Thames Water Utilities and other potential funding sources in the region. General undesignated funds held at 31[st] March 2021 were £17,569 (2020: £21,084).
6
THAMES RIVERS TRUST
## **STATEMENT OF THE TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 March 2021**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP
- 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 is inappropriate to assume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of the charity and which enable them to ascertain both the financial position of the charity and ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
7
THAMES RIVERS TRUST
## **INDEPENDENT EXAMINER’S REPORT TO THAMES RIVERS TRUST**
## **FOR THE YEAR ENDED 31 MARCH 2021**
I report on the accounts of the Charity for the year ended 31 Mar 2021, which are set out in pages 9-17 below.
## **Responsibilities and basis of report**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sally Thompson CPFA Examiner
Date: 18 June 2021
SPX Oxford Ltd
Peace House 19 Paradise Streey Oxford OX1 1LD
8
THAMES RIVERS TRUST
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2021**
|Note
**Income from:**
Donations and legacies
2
Charitable activities
3
Investments
4
Total income
**Expenditure on:**
Raising funds
Charitable activities
5
Total expenditure
**Net income / -expenditure**
**Transfers between funds**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forwards
**Total funds carried forward**|**Unrestricted**
**Funds**
**£**
3,800
-
33
3,833
305
7,043
7,348
- 3,515
-
- 3,515
70,015
66,500|**Restricted**
**Funds**
**£**
-
125,000
-
125,000
-
11,971
11,971
113,029
113,029
1,000
114,029|**Total**
**Funds**
**2021**
**£**
3,800
125,000
33
128,833
305
19,014
19,319
109,514
-
109,514
71,015
180,529|**Unrestricted**
**Funds**
**£**
6,589
166
6,755
908
8,249
9,157
- 2,402
- 22
- 2,424
72,439
70,015|**Restricted**
**Funds**
**£**
-
-
-
-
11,960
11,960
- 11,960
22
- 11,938
12,938
1,000|**Total**
**Funds**
**2020**
**£**
6,589
166|
|---|---|---|---|---|---|---|
|||||||6,755|
|||||||908
20,209|
|||||||21,117|
|||||||- 14,362
-|
|||||||- 14,362|
|||||||85,377|
|||||||71,015|
All recognised gains and losses are included in the Statement of Financial Activities.
9
THAMES RIVERS TRUST
## **BALANCE SHEET FOR THE YEAR ENDED 31 March 2021**
|Note
**Current assets**
Debtors: Amounts falling due within one
year
10
Cash at bank and in hand
**Creditors: Amounts falling due within one**
**year**
11
**Net current assets**
**Net assets**
**The funds of the charity**
**Funds**
Unrestricted income funds
Unrestricted designated funds
Restricted income funds
Total funds
12|**2021**
**£**
**£**
626
183,315
183,941
3,412
180,529
180,529
17,569
48,931
114,029
180,529|**2020**
**£**
**£**
504
71,161
71,665
650
71,015
71,015
21,084
48,931
1,000
71,015|**2020**
**£**
**£**
504
71,161
71,665
650
71,015
71,015
21,084
48,931
1,000
71,015|
|---|---|---|---|
||||71,015|
||||21,084
48,931
1,000|
||||71,015|
These accounts were approved by the board of trustees on ……………….. and signed on their behalf by:-
xxxxxxx xxxxxxx Trustee Trustee
10
THAMES RIVERS TRUST
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 March 2021**
## **1. STATEMENT OF ACCOUNTING POLICIES**
## **Accounting convention**
These accounts have been prepared under the historical cost convention, and in accordance with the Statements of Recommended Practice 2015 (SORP 2015), ‘Accounting and Reporting by Charities’, issued by the Charities Commission and the Charities Act 2011, together with applicable standards.
## **Income**
Income represents income receivable from room hire, rental income, fundraising, donations, gifts and interest received.
Donations and legacies are reported in the Statement of Financial Activities if they are received or due in the financial year.
Any income received relating to a forward period has been deferred.
Grants receivable are included in the year in which the offer is conveyed by the charity except in those cases where the offer has conditions, such grants being recognised as income when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are not included in the financial statements.
## **Expenditure**
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for such expenditure, inclusive of any VAT which cannot be recovered.
Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered that are subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Resources are expended in the furtherance of the charity’s objectives.
## **Fixed assets and Depreciation**
The charity currently has no fixed assets but they would be capitalised where the purchase cost exceeds £500 and the benefit for the charity would endure for at least 2 years.
Depreciation would be provided at the following rates so as to write off the cost less residual value of the assets over their estimated useful lives. A full year’s depreciation is provided in the year of acquisition.
Office equipment – straight line basis at 25% per annum.
## **Fund accounting**
Funds held by the charity are either:-
**Unrestricted general funds** – these are funds which can be used in accordance with the charity’s objectives at the discretion of the trustees.
11
THAMES RIVERS TRUST
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2021**
**Designated funds** – these funds represent monies set aside for specific purposes at the discretion of the trustees rather than the donors.
**Restricted funds** – funds received can only be used for specifically nominated expenditure by the donor and are credited to income in the year in which they are received. Where amounts are not specifically allocated against expenditure in that year the balance is deferred and added to the balance brought forward on the restricted funds and is used in subsequent years in line with the restrictions placed by the donor.
## **Taxation**
The organisation, being a charity, is not liable to taxation on its income.
## **Roundings**
There might be small casting differences throughout these accounts due to figures being presented in whole pounds, whilst the ledger, from which the accounts are drawn, includes pence.
12
THAMES RIVERS TRUST
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2021**
## **2. INCOME FROM DONATIONS**
|**Unrestricted**
**Funds**
**£**
**Donations and legacies**
General Donations
3,800
3,800
**. INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**Funds**
**£**
**Charitable activities**
Grants
-
**Total charitable activities**
-|**Unrestricted**
**Funds**
**£**
**Donations and legacies**
General Donations
3,800
3,800
**. INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**Funds**
**£**
**Charitable activities**
Grants
-
**Total charitable activities**
-|**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
125,000
125,000|**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
125,000
125,000||**Total**
**Funds**
**Total**
**Funds**
**2021**
**2020**
**£**
**£**
3,800
6,589
3,800
6,589
**Total**
**Funds**
**Total**
**Funds**
**2021**
**2020**
**£**
**£**
125,000
-|
|---|---|---|---|---|---|
|||||||
|||
||
||
||-||125,000||125,000
-|
## **3. INCOME FROM CHARITABLE ACTIVITIES**
The restricted grant of £125k was from the National Lottery’s Green Recovery Challenge Fund
## **4. INCOME FROM INVESTMENTS**
|**Investment income**
Interest
**Total investment income**
**. EXPENDITURE ON RAISING FUNDS**
**Raising funds**
Fundraising costs
**Total expenditure on raising funds**||**Unrestricted**
**Funds**
**£**
33
33
**Unrestricted**
**Funds**
**£**
305||**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
-||**Total**
**Funds**
**Total**
**Funds**
**2021**
**2020**
**£**
**£**
33
166
33
166
**Total**
**Funds**
**Total**
**Funds**
**2021**
**2020**
**£**
**£**
305
908|
|---|---|---|---|---|---|---|
||||||||
||||||||
|||305||-||305
908|
## **5. EXPENDITURE ON RAISING FUNDS**
13
THAMES RIVERS TRUST
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2021**
## **6. EXPENDITURE ON CHARITABLE ACTIVITIES**
|**Charitable activities**
Other expenditure
Insurance
Accountancy
Administrator
Bank charges
Project delivery costs
Office costs
Travel and subsistence
Governance costs
**Total expenditure on**
**charitable activities**
**b. GOVERNANCE COSTS**
**Governance costs**
Trustee expenses
Meeting costs
Independent Examination
**Total governance costs**|**Unrestricted**
**Funds**
**£**
200
608
440
5,100
13
-
351
-
331
7,043
**Unrestricted**
**Funds**
**£**
-
31
300
331|**Restricted**
**Funds**
**£**
-
-
-
-
-
11,971
-
-
-
11,971
**Restricted**
**Funds**
**£**
-
-
-
-|**Total**
**Funds**
**Total**
**Funds**
**2021**
**2020**
**£**
**£**
200
46
608
539
440
650
5,100
4,719
13
56
11,971
12,291
351
628
-
177
331
1,103|
|---|---|---|---|
||||19,014
20,209|
||||**Total**
**Funds**
**Total**
**Funds**
**2021**
**2020**
**£**
**£**
-
761
31
222
300
120|
||||331
1,103|
## **6b. GOVERNANCE COSTS**
Trustees have agreed to dispense with the Independent Examination of the 2019-20 accounts. The £120 cost in 2019-20 is the under-estimate of the 2018-19 Independent Examiner's costs in that year's accounts
14
THAMES RIVERS TRUST
**NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2021**
## **7. TRUSTEE REMUNERATION, TRUSTEE EXPENSES AND RELATED PARTY TRANSACTIONS**
No members of the management committee received any remuneration during the period. There were no reimbursements of out-of-pocket expenses during the period (2019, total £762 reimbursed). No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the period.
## **8. REMUNERATION AND BENEFITS RECEIVED BY KEY MANAGEMENT PERSONNEL**
The key management personnel of the charity are the voluntary trustees. There are therefore no remuneration or benefits of the key management personnel to disclose.
## **9. STAFF COSTS AND EMPLOYEE BENEFITS**
The charity had no employees during the year (2019; 0).
## **10. DEBTORS** : amounts falling due within one year
|Prepayments|**2021**
**£**
626
626|**2020**
**£**
503|
|---|---|---|
|||503|
## **11. CREDITORS:** amounts falling due within one year
|Accounts Payable
Other creditors and accruals|**2021**
**£**
2,682
730
3,412|**2020**
**£**
650|
|---|---|---|
|||650|
15
THAMES RIVERS TRUST
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2021**
## **12. MOVEMENTS IN FUNDS**
|**General Funds**
Unrestricted income funds
Designated Funds
**Restricted Funds**
National Lottery
Groupe SEB UK
**Total funds**|**At 31**
**Mar**
**2020**
**£**
21,084
48,931
0
1,000
**71,015**|**Incoming**
**Resources**
**£**
3,833
125,000
**128,833**|**Resources**
**expended**
**£**
-7,348
-11,971
**-19,319**|**Transfers**
**£**
**0**|**At 31**
**Mar**
**2021**
**£**
17,569
48,931
113,029
1,000|
|---|---|---|---|---|---|
||||||**180,529**|
## **Purpose of designated funds:**
The Thames Rivers Trust Development Fund is to enable development of the Trust.
## **Previous year:**
|**General Funds**
Unrestricted income funds
Designated Funds
**Restricted Funds**
Thames restoration fund
Groupe SEB UK
**Total funds**|**At 31**
**Mar**
**2019**
**£**
23,486
48,953
6,938
6,000
**85,377**|**Incoming**
**Resources**
**£**
6,755
-
**6,755**|**Resources**
**expended**
**£**
9,157
6,960
5,000
**21,117**|**Transfers**
**£**
- 22
22
**-**|**At 31**
**Mar**
**2020**
**£**
21,084
48,931
0
1,000|
|---|---|---|---|---|---|
||||||**71,015**|
## **13. POST BALANCE SHEET EVENTS**
There have been no post-balance sheet events.
16