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2024-03-31-accounts

THAMES RIVERS TRusr BALANCE SHEEr FOR THE YEAR ENDED 31 Marth 2024 2023 Note Debtor5: Amounts fallin8 due within oneyear Cash at bank and in hand 746 91.51x1 92.245 746 75,270 76.015 Crodltor5: Amourts falllrydue wlthln one li 6.672 750 85.574 75.265 85.574 75.265 The fumls of the dmrlty Funds Unrestricted income funds Restricted income funds Total funds 84,574 74.265 85.574 75,265 These accounts were approved by the board of trustees on 14th October 2024 and signed on their behalf by:_ Davld Trustee ardle Leslte Jo Trustee

THAMES RIVERS TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024

Charity Registration Number: 295138

1

THAMES RIVERS TRUST

TRUSTEES’ ANNUAL REPORT AND FNANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024

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 2024

TRUSTEE COMMITTEE MEMBERS

David Wardle (Chair) Leslie Jones OBE (Treasurer) Christopher Poupard Dr Alastair Ferguson Lou Kizwini (Vice Chair) Benedicta Moxon Ian Bull Tim Parr Nigel Davenport

REGISTERED ADDRESS

TRT PO Box 4248 Marlborough SN8 9FH

CHARITY REFERENCE NUMBER

295138

ACCOUNTANTS S K Punia Accountants LLP Olympic House 28 – 42 Clements Road Ilford IG1 1BA

3

THAMES RIVERS TRUST

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 March 2024

The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2024. 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 its role as the Hub Trust and focal point for NGOs that share our Vision. This includes rivers trusts in the Thames catchment, Action for the River Kennet (ARK), Cotswolds River Trust (CRT), River Thame Conservation Trust (RTCT), South East Rivers Trust (SERT and Thames 21 (T21) and non-rivers trusts, Crane Valley Community Interest Company (CVCIC), Thames Landscape Strategy (TLS), Freshwater Habitats Trust (FHT) and Zoological Society of London (ZSL). All have attended Key Partner meetings and contributed throughout the year.

The Trust Trustees meet on a quarterly basis. The Trustees met on four occasions during the financial year, April 2023 via Zoom, July 2023 via Zoom, October 2023 via Zoom and March 2024 in-person.

The Trustees who have served during the year are listed on page 3 of the TRT Financial Statements for the year ended 31[st] March 2024. The Annual General Meeting (AGM) was held on 25[th] September 2023 at The Lumen Community, 88 Tavistock Place, London WC1H 9RS. The accounts were approved at the AGM.

At the AGM Dave Wardle was re-elected for the role of Chairman. Chris Poupard stood down as ViceChairman but remained a committed Trustee. Lou Kizwini was elected as Vice – Chairman and Les Jones was re-elected to continue as Hon.Treasurer.

The Trust remains a full member of The Rivers Trust, the national umbrella organisation of River Trusts.

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 a sustainable income with competition for funding increasing.

4

THAMES RIVERS TRUST

To mitigate these risks the Trust continues to maintain sensible expenditure and is actively seeking new sources of funding from a range of organisations that support our strategic approach.

Achievement, performance and plans for future periods

Dave Wardle has continued to represent the Trust on Thames Water's Water Resource Forum and the South East Consultation Group to give input in Water Resources South East (WRSE).

The Trust new 3 - year strategy has seen TRT formally invite organisations to become recognised Key Partners of TRT to provide improved coverage of the Thames River Basin and bring in a wider set of skills and knowledge for collaboration, partnership, successful working and catchment scale projects.

Anna Forbes has continued to work on an Expression of Interest to The Lottery, to bring to fruition a legacy partnership eels project.

TRT Admin

Anna Forbes has continued to serve as TRT Administrator. Over the year she has continued to:

  1. Provide administrative and bookkeeping support to the Chairman, Trustees and new CEO

  2. Maintained the website and run our comms, including social media and press releases

  3. Overseen the process and assisted the Trustees with recruiting a new CEO

TRT partnership working

Maria Kuri, Partnership Officer continued this role regularly attending catchment host meetings and working with each host to help them to get them ready for each CaPS stage.

TRT is working with Thames Water and The Rivers Trust to administer the CaPS Fund. The fund is a 5-year commitment from Thames Water, but it aligns with their long-term plan.

Maria has been:

  1. Organising the Thames Catchment Forum meetings, her most recent of these a real triumph

  2. Maintaining strong relationships with the 27 catchment hosts across the Thames

  3. Supporting the Trustees finalise their 3-year Strategy for the Trust

At the end of this financial year Maria left us to return to Argentina. We were very sorry to lose Maria, after another year of great work. She has been a great asset to TRT during her time with us, driving forward the development of our 3-year strategy, managing the CaPS work with catchment hosts and evolving the Thames Catchment Forum. We wish her every success for the future.

TRT building capacity

A key goal within our 3-year strategy was appointing a CEO to increase capacity of the Trust. In January 2024 the Trust interviewed 5 candidates for the role of CEO and appointed Miles Morgan, who took up the fulltime 40 hr per week role in mid-March 2024.

Thames Catchment Forum

The Trust continues to host and administer the Forum. Meetings were well attended and held in September 2023 and March 2024, both in-person in London. The Forum continued to provide the platform for the EA and Thames Water to give an overview of progress towards Water Framework Directive (WFD) objectives, whilst keeping members informed and contributing to Thames Water Plans. It has been a space for members to present on topics of value to the members, share best practice, facilitate discussions and put organisations in touch where useful.

Financial commitments

The designated Thames Rivers Trust Development Fund has not had to draw on and remains ready to be used if necessary.

5

THAMES RIVERS TRUST

Treasurer’s report

Financial review and investment policy

2023/24 was a relatively satisfactory year for TRT finances.

Income for the year was £49,798

Expenditure for the year totalled £39,489.

This produced a surplus of £10,309. Total Funds held at 31st March were £85,574 of which £84,574 was unrestricted.

There are no restrictions on the Charity’s power to invest. The present funds are held in interest bearing bank accounts.

Reserves policy

It is the policy of the Trustees to hold funds to ensure the Trust can operate for at least six months and is secure at the current level of operation. In the next financial year TRT will be increasing our grant applications and exploring other appropriate funding avenues to enable long term sustainability for the Trust and the capacity to deliver our Vision for a vibrant and healthy Thames River Basin. General undesignated funds held at 31[st] March 2024 were £28,306 (2023: £17,997).

6

THAMES RIVERS TRUST

STATEMENT OF THE TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 March 2024

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:

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 2024

I report on the accounts of the Charity for the year ended 31 Mar 2024, which are set out in pages 9-16 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:

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.

Surinder Singh AAT| BSc Honours Examiner

Olympic House 28 – 42 Clements Road Ilford IG1 1BA

Date

8

THAMES RIVERS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2024

Note
Income from:
Donations and legacies
2
Charitable activities
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
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
£
3,418
45,000
1,380
49,798
-
39,489
39,489
10,309
10,309
74,265
84,574		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
1,000
1,000		 Total Funds
2024
£
3,418
45,000
1,380
49,798
-
39,489
39,489
10,309
-
10,309
75,265
85,574		 Unrestricted
Funds
£
3,545
31,000
352
34,897
305
29,347
29,652
5,245
5,245
69,020
74,265		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
1,000
1,000		 Total Funds
2023
£
3,545
31,000
352
34,897
305
29,347
29,652
5,245
-
5,245
70,020
75,265

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 2024

2024
Note
£
£
Current assets
Debtors: Amounts falling due within one year
746
Cash at bank and in hand
91,500
92,245
Creditors: Amounts falling due within one
year
11
6,672
Net current assets
85,574
Net assets
85,574
The funds of the charity
Funds
Unrestricted income funds
84,574
Restricted income funds
1,000
Total funds
12
85,574		 2023
£
£
746
75,270
76,015
750
75,265
75,265
74,265
1,000
75,265		 2023
£
£
746
75,270
76,015
750
75,265
75,265
74,265
1,000
75,265
75,265
74,265
1,000
75,265

These accounts were approved by the board of trustees on 14[th] October 2024 and signed on their behalf by:-

David Wardle Trustee

Leslie Jones Trustee

10

THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 March 2024

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 2024

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 2024

2. INCOME FROM DONATIONS
Unrestricted
Funds
£
Donations and legacies
General Donations
3,418
3,418
3. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
£
Charitable activities
Grants
5,000
Other Income
40,000
Total charitable activities
45,000
4. INCOME FROM INVESTMENTS
Unrestricted
Funds
£
Investments income
Interest
1,380
Total investment income
1,380
5. EXPENDITURE ON RAISING FUNDS
Unrestricted
Funds
£
Raising funds
Fundraising costs
-
Total expenditure on raising
funds
-		 Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-		 Total Funds
2024
£
3,418
3,418
Total Funds
2024
£
5,000
40,000
45,000
Total Funds
2024
£
1,380
1,380
Total Funds
2024
£
-
-		 Total Funds
2023
£
3,545
3,545
Total Funds
2023
£
1,000
30,000
31,000
Total Funds
2023
£
352
352
Total Funds
2023
£
305
305

13

THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2024

6. EXPENDITURE ON CHARITABLE ACTIVITIES

Charitable activities
Other expenditure
Insurance
Accountancy
Administrator
Bank charges
Staff Cost
Office costs
Bookkeeping
Governance costs
Total expenditure on charitable
activities		 Unrestricted
Funds
£
23,174
801
635
9,620
21
2,985
824
344
1,086
39,489		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-		 Total Funds
2024
£
23,174
801
635
9,620
21
2,985
824
344
1,086
39,489		 Total Funds
2023
£
17,748
695
562
7,771
21
-
1,309
268
973
29,347

6b. GOVERNANCE COSTS

Governance costs
Trustee expenses
Meeting costs
Independent Examination
Total governance costs		 Unrestricted
Funds
£
131
655
300
1,086		 Restricted
Funds
£
-
-
-
-		 Total Funds
2024
£
131
655
300
1,086		 Total Funds
2023
£
95
628
250
973

14

THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2024

7. TRUSTEE REMUNERATION, TRUSTEE EXPENSES AND RELATED PARTY TRANSACTIONS

No members of the management committee received any remuneration during the period. There were reimbursements of out-of-pocket expenses during the period totalling £0 (2023, total £95 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 one employee during the year (2023; 0).

10. DEBTORS : amounts falling due within one year

Prepayments 2024
£
746
746		 2023
£
746
746

11. CREDITORS: amounts falling due within one year

Accounts Payable
Other creditors and accruals		 2024
£
3,037
3,635
6,672		 2023
£
-
750
750

15

THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2024

12. MOVEMENTS IN FUNDS

General Funds
Unrestricted income funds
Designated TRT Development Fund
Designated Funds
Designated Funds - Eel Project
Restricted Funds
Groupe SEB UK
Total funds		 At 31
Mar
2023
£
17,997
40,000
8,931
7,337
1,000
75,265		 Incoming
Resources
£
49,798
49,798		 Resources
expended
Transfers
At 31 Mar
2024
£
£
£
- 39,489
28,306
40,000
8,931
7,337
1,000
-39,489
0
85,574

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
Designated Funds - Eel Project
Restricted Funds
Groupe SEB UK
Total funds		 At 31
Mar 2022
£
12,752
48,931
7,337
1,000
70,020		 Incoming
Resources
£
34,897
34,897		 Resources
expended
£
- 29,652
-29,652		 Transfers
£
0		 At 31
Mar 2023
£
17,997
48,931
7,337
1,000
75,265

13. POST BALANCE SHEET EVENTS

There have been no post-balance sheet events.

16

THAMES RIVERS TRUST INDEPENDEKf EXAMINEFVS REPORT TO THAMES RIVERS TRuFr FOR THE YEAR ENDED 31 Marth 2024 I report on the accounts of the Charity for the year ended 31 Mar 2024. which are set out in pages 9-16 below. Responsibilities and basls of report As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirernents of the Charities Act 20111.the ACV). I report in respect of my examination of the Trusys accounts carried out under section 145 of the 2011 Art and in carrying out my examination, I have followed all the applicable Directions 8iven by the Chartty Commission under section 145(51{b) of the Act. Independent examlner's ststement 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 respett: the accountlng 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 requlrement that the accounts give a 'true and fairf 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. )In Surinder Singh F Examiner I Bsc Honour5 Olympic House 28- 42 Clements Road Ilford IGI 1&4 Date