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2025-03-31-accounts

THAMES RIVERS TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2025

Charity Registration Number: 295138

1

THAMES RIVERS TRUST

TRUSTEES’ ANNUAL REPORT AND FNANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2025

CONTENTS PAGES
Charity Information 3
Trustees’ Annual Report 4
Treasurer’s Report 8
Statement of Trustees’ responsibilities 9
Independent Examiner’s report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the accounts 13

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THAMES RIVERS TRUST

CHARITY INFORMATION FOR THE YEAR ENDED 31 March 2025

TRUSTEE COMMITTEE MEMBERS

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

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

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THAMES RIVERS TRUST

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 March 2025

The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 9 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 Trustees who have served during the year are listed on page 3 of the TRT Financial Statements for the year ended 31[st] March 2025. The Annual General Meeting (AGM) was held on 14[th] October 2024 at Keats Meeting Room, St Giles, 154 Southampton Row, WC1B 5JX. The accounts were approved at the AGM.

At the AGM Tim Parr was elected for the role of Chairman. Lou Kizwini was re-elected as Vice – Chairman and Les Jones was re-elected to continue as Hon.Treasurer.

The annual accounts for 2023/24 were prepared by SK Punia Accountants LLP and had undergone an Independent Examination by SK Punia Accountants LLP and were approved at the AGM.

The Trust remains a full member of The Rivers Trust, the national umbrella organisation for the Rivers Trust movement. Anna Forbes has continued her role as our Administrator. Miles Morgan completed his first year in post as the Trust’s CEO and in December 2024 Sara Usman joined the team as our Senior Partnership Officer and TRT’s second employee.

The TRT Key Partners (part of the Trust’s 3 year strategy), made up of the five 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 Zoological Society of London (ZSL), Thames Landscape Strategy (TLS), Thames Estuary Partnership (TEP), Freshwater Habitats Trust (FHT) and Crane Valley Community Interest Company (CVCIC) continued to work well together at this useful top level.

We welcomed a new Key Partner, the UK Centre for Ecology and Hydrology. UK CEH has proven to be an excellent and informative addition to the Key Partners.

It is beneficial to all partners to share areas of expertise, skills and knowledge for collaboration, partnership, efficient, innovative and successful working, and catchment scale projects.

The Trustees met on three occasions during the financial year, July and October 2024 and February 2025 in person. Additionally, the Finance and Fundraising Sub-committee meetings, held via Zoom met online in May, September and November 2024 and January 2025.

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THAMES RIVERS TRUST

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.

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

Towards the end of the financial year the Trustee Board fully has reviewed and signed off a new funding strategy, with an agreed budget for the new financial year to invest in an experienced fundraising officer.

Chairman Tim Parr drafted a governance document to serve as a practical articulation of Trustee roles and responsibilities both collectively and individually, based on the Charity Commission guidance. This was reviewed and approved by the Trustee Board.

TRT administration

Anna Forbes has continued to serve as TRT Administrator during the year, she has:

TRT building capacity with our CEO

Miles Morgan has been 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.

Miles has been:

  1. Organising the Thames Catchment Forum meetings

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THAMES RIVERS TRUST

TRT partnership working

A key strategic goal for TRT was to increase capacity to enable the Trust to deliver more. Building on our appointment of a 40 hr per week CEO, we now have a 37.5 per week Senior Partnership Officer Sara Usman.

Sara Usman has been:

Promotion and publicity

Our website continues to bring in a range of enquiries and invitations from the public, organisations and press. Our social media platforms continue to grow and are a great means of sharing information and promoting both ourselves and our projects as well as our Key Partner’s projects and events.

In October 2024 our CEO appeared on the BBC Green Sports Award 2024, sharing our support for Olympic Gold Rower and river ambassador Imogen Grant. In January 2025 the TRT Peter Spillett Award received coverage on TV, radio and online, the winner Glyn Horn, an outstanding volunteer for ARK featured with our Administrator.

Other projects:

1. Thames Catchment Forum

The Trust continues to host and administer the Forum. Meetings were well attended and held in September 2024 and January 2025, both in-person in London. The Forum continued to provide the independent 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 remains an active space for members to present on topics of value to the members, share best practice, facilitate discussions, hear from organisations beyond Rivers Trusts and be a fantastic networking opportunity for member organisations at a ‘boots on the ground’ level.

2. Thames Salmon School

This Phase 1 project within the Thames catchment area ran from September 2024 – January 2025. TRT brought together The Missing Salmon Alliance and delivery Rivers Trusts – Action for the River Kennet, Cotswolds Rivers Trust, Thames21, South East Rivers Trust and River Thame Conservation Trust and The Salmon School, to

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THAMES RIVERS TRUST

create and deliver a high-quality educational outreach project with hands-on science, geography and art experiences for primary school students. The pilot project brought to life the interconnectedness of our relationships with rivers and the story of the iconic Atlantic salmon and its plight, emphasizing the importance for communities and wildlife of healthy, cold, clean rivers.

Students learnt how to collect eDNA samples themselves, carried out river dipping and learnt how to identify freshwater invertebrates. They created river journals and river artwork made on their local riverbank and wrote about what resonated with them about salmon and their local river.

The project ended with an eDNA reveal session, discovering what their samples contained. Each class was presented with a hand-blown glass salmon from fellow Salmon School students in America. Representatives from each of the participating 5 schools were given the unique opportunity to be on stage and contribute at the Wild Salmon Connections conference in January 2025 at Fishmongers Hall, London.

Tim Parr - Chairman April 2025

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THAMES RIVERS TRUST

Treasurer’s report

Financial review and investment policy

2024/25 was a relatively satisfactory year for TRT finances.

Income for the year was £135,730

Expenditure for the year totalled £137,306.

This produced a deficit of £1,576. Total Funds held at 31st March 2025 were £83,999 of which £81,552 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. The Trust has designated unrestricted funds of £48,931 for its future development.

In the next financial year TRT is prioritising bringing in increased core and project funding, 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 2025 were £25,672 (2024: £28,306).

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THAMES RIVERS TRUST STATEMENT OF THE TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 March 2025 The trustees are responsible for preparing the TrLLStees' Annual Report and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards IUnFted Kingdom Generally Accepted Accourrting Prarticel. The law applicable to charities in England arsd 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 re50urce5 and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. sèlect suitable accounting policies and app￿ them consistently: obseive thè 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 wncern basis unle55 it is inappropriate to assume that the charity will continue in business. The trustees are ￿5￿nsible for keeping properaccounting record5which disclose, with reasonable accuracy, thefinancial position of the charity and which enable them to ascertain both the financial p051tion of the charity and ensure that the financial statements comply with the Charities ALt 2011 and the Charity (Accounts and Reports) Regulations 2fX)8. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. Signed on behalf of the trustees Timothy Parr Trustee Date Leslie Jones Tnjstee Date

THAMES RIVERS TRUST INDEPENDENT EXAMINEWS REPORT TO THAMES RIVERS TRUST FOR THE YEAR ENDED 31 March 2025 I report on the accounts of the Chartyforthe yearended 31 Mar 3ll5, whth are set out in pages ￿16 below. Responslbllltles and basls of rnport As the charlty's trustees, ¥YJu are resw)rfjible for tr preparatlon of the accounts in accordance wlth the requlrements of the Charitles Act 20111.the Acfl. I report in respect of myexamlnattrm of the Trusys accounts carried (Mjt un(Ser sectlon 145 of the 2011 Act and In carryin8 Out my examlnation, I have followed all the appllcable Dlrections glven by the Charlty Commlsslon under sectlon 145151{bl of the Act Independent examlner's statement I have completed my examlnatlon. I confirm that no materlal matters have come to my attentlon In connection with the examlnation which gives me cause to believe that in. any materSal respect: the accounting records were not kept in acCOrda￿e wlth sertlon 130 of the Charltles Act: or the accounts did not accord w6th the accounting records: or the accounts did not comply with the ap￿1¢able requirements concernlng the form and content of accounts set out in the Charities {Accounts and Reports) Regulatlons 2CQ8 other than arry requiremerrt that the accounts 81¥ a 'true and fairf view which is not a matter considered as part of an Independent examlnatlon. I have no concerns and have come acros5 no other matters in connection wlth the examinatlon to which attentlon should be drawn In thls rewrt in order to enable a proper understanding of the a¢¢ourrts to be reached. Surinder Slngh FAACI AAT | Bsc Horthirs Examiner Olymplc House 28- 42 Clements Road Ilford IGI IBA Date 3.jo 91 2-25 10

THAMES RIVERS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2025

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
£
11,865
68,865
1,478
82,208
-
85,230
85,230
- 3,022
-
- 3,022
84,574
81,552		 Restricted
Funds
£
-
53,523
-
53,523
-
52,076
52,076
1,447
-
1,447
1,000
2,447		 Total Funds
2025
£
11,865
122,388
1,478
135,730
-
137,306
137,306
- 1,576
-
- 1,576
85,574
83,999		 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

All recognised gains and losses are included in the Statement of Financial Activities.

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THAMES RIVERS TRUST BALANCE SHEET FOR THE YEAR ENDED 31 March 2025 2025 2024 Note Current assets Debtors: Amounts falling due wrthin one year Cash at bank and in hand io 746 91.500 92,245 84.323 85,226 Credstws: Amounts fallln8 due wlthln we year li 1,228 6,672 Net oJrreTht assets 83,999 85.574 Net assets 85,574 The funds of the charlty Funds Unrestrirted income funds Vnrestrltted deslgnated funds Unrestrirted designated Funds- Eel Project Restricted income funds Total funds 25.672 48,931 6.949 2,447 28,306 48,931 7.337 1,000 85.574 12 These accounts were approved by the board of trustees on 19th September 2025 and signed on their behalf by-_ Timothy Parr Trustee Leslie Jones Trustee 12

THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 March 2025

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.

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THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2025

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.

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THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2025

2. INCOME FROM DONATIONS
Unrestricted
Funds
£
Donations and legacies
General Donations
11,865
11,865
3. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
£
Charitable Activities
Grants
24,667
Other Income
40,177
Salmon School
4,021
Total charitable Activities
68,865
4. INCOME FROM INVESTMENTS
Unrestricted
Funds
£
Investments income
Interest
1,478
Total investment income
1,478
5. EXPENDITURE ON RAISING FUNDS
Unrestricted
Funds
£
Raising funds
Fundraising costs
-
Total expenditure on raising
funds
-		 Restricted
Funds
£
-
-
Restricted
Funds
£
32,585
20,938
53,523
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-		 Total Funds
2025
£
11,865
11,865
Total
Funds
2025
£
57,252
40,177
24,959
122,388
Total
Funds
2025
£
1,478
1,478
Total
Funds
2025
£
-
-		 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
£
-
-

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THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2025

6. EXPENDITURE ON CHARITABLE ACTIVITIES

Charitable activities
Other expenditure
Insurance
Accountancy
Administrator
Bank charges
Staff Cost
Office costs
Bookkeeping
Salmon School
Governance costs
Total expenditure on charitable
activities		 Unrestricted
Funds
£
2,676
867
1,083
10,121
62
67,663
1,024
17
1,717
85,230		 Restricted
Funds
£
31,098
-
-
-
-
-
-
-
20,977
-
52,076		 Total
Funds
2025
£
33,775
867
1,083
10,121
62
67,663
1,024
17
20,977
1,717
137,306		 Total
Funds
2024
£
23,174
801
635
9,620
21
2,985
824
344
-
1,086
39,489

6b. GOVERNANCE COSTS

Governance costs
Trustee expenses
Meeting costs
Independent Examination
Total governance costs		 Unrestricted
Funds
£
282
1,136
300
1,717		 Restricted
Funds
£
-
-
-
-		 Total
Funds
2025
£
282
1,136
300
1,717		 Total
Funds
2024
£
131
655
300
1,086

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THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2025

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 (2024, total £0 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 two employees during the year (2024; 1).

10. DEBTORS : amounts falling due within one year

Debtors: Amounts falling due within one year

Debtors: Amounts falling due within one year
Prepayments 2025
2024
£
£
904
746
904
746

11. CREDITORS: amounts falling due within one year

Creditors: Amounts falling due within one year

Accounts Payable
Other creditors and accruals		 2025
2024
£
£
35
3,037
1,193
3,634
1,228
6,671

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THAMES RIVERS TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 March 2025

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
2024
£
28,306
40,000
8,931
7,337
1,000
85,574		 Incoming
Resources
£
82,208
53,523
135,730		 Resources
expended
Transfers
At 31
Mar 2025
£
£
£
- 84,842
-
25,672
40,000
8,931
-388
6,949
-52,076
1,447
1,000
-137,306
0
83,999

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 TRT Development Fund
Designated Funds
Designated Funds - Eel Project
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
34,897		 Resources
expended
Transfers
At 31
Mar 2024
£
£
£
-39,489
28,306
40,000
8,931
7,337
1,000
-29,652
0
85,574

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THAMES RIVERS TRUST

13. POST BALANCE SHEET EVENTS

There have been no post-balance sheet events.

19