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:
- 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 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:
- 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.
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