REGISTERED COMPANY NUM8ER'. OS051506 (England and Wales) REGISTERED CHARITY NUMBER: 1123285 CHARITY REGISTERED IN SCOTLAND: SC041584 REPORT OF THE TRU TEE AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 OR IAIILD FISH CON ERVATI A COMPANY LIMITED BY GUARANTEE Shaw Gibbs (Audit) Lirniled Slalutory Audilo Reffling CDUrt Leigh Road Ea5tl8igh Soulhamplon Harnpshire S050 9PD WILD FISH CONSER CONTENT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DE EMBER 202S Pa9& Raport of the Trustee8 to 11 Roport of th• Indep6ndent Audltors 12 10 14 stat8m8nt of Financial Act4Vities 15 Balance Sheet 16 Cash Flow Statement 17 Notes lo the Cash Flow Statement 18 Notes to the Flnantlal Statements 19 to 30 Detailed Statement of Financial Activities 31 to 32 ILDF CONSERVA GISTERED NUM8ER-. 05051506 REPORT OF T FOR THE YEA ETRUSTEES D 31 DECEMBER The Tiust8e5 of Wild Fish Consetvallon IWildFi8hl who are also directors ol the ctt8rily for the purposes of the Companies Act 2006. present their ieporl with Ihe finanei81 slalem8nt5 01 the charity for Ihb yeaf ended 31 Docember 2025. The Trustee5 have adopted the piov1510ns ol Accounting and Reporting by Charities.. Statement ol Re¢omrn8nded Practi￿ appll¢able to ch8rilie5 preparing their accounts in accordance ￿th the Fina[￿1￿ Reporting Standard applkable In the UK and RepublK ol Ireland IFRS 1021 leffe¢liv8 1 January 20191. OBJECTIVES AND A¢TivmES WlldFish'$ Charitsble Objectives l. To prtsmole lor the public benelil the conservation, protection 8nd sustainable exploitation ol salmon, trout and othar rish stocks of United Kingdom origin, and the con88rvation and improv8menl of the aquatic environment and ecosystems necessary for Ihern lo thrive. 2. The sdvancemÈnt of pul)lic education relating to the conse￿alDn of the aqua11c gnvironmanl and thB Intoiaclion between human beings. the environtnent and flsh. whether IlitOU9h anyling or otherwse.. 3. To promotè lor the public b8nofil, knowledge of the aquatic 8nvironment and identification of and rèspéct lor its dependenl species, includlng f15h, whether Ihrough angllng otherwlse.. 4. To promote resear¢h and to publtsh tho useful resu115 Iheieof in re5pecl ol Ihe faclors affecling the natural and arliflcial régoneration of salmon, trout and other f sheries in the Unlled Kin9dorn indudlng the geneTal e¢dogy of river cat¢hmentS and the marlne environment and th& effect of cotnmarclal, induslri81 and land manag8mont pradices on aquatic 8COSyStems. WildF*sh's Work Our charitable acts"vilies hav8 been agreed after conslderation for ¢he W￿est possible public benefit that ran be achieved through our work. These fall into fou¥ main categories.. Management and conservation of the aquatic environmenl. both freshwater and marine Manag8m8nt and consèrvation ol all fish sp8ci8s of UK oitgin Sci8nlific Research into relevant Issu8S to support the Charity's advisory and influontrng work Education Page I WIL FISH CO 10 Is ED NUMBER.. 05051506 REPORT OF THE TRUSTEES FOR THE YEAR E INTRODUCTION WildFish was established ln 1903 loriginally as tho Salmon & Trout Associalion. then Salmon & Trout Consèrvalionl lo addres5 the damage done lo our rivers by the polluting effects of Ihe Industrial Revolulion. Sin¢e then, WildFi5h has worked to protect fisherie5, fish stocks and ihe aqvatlc environment for current and future generat￿n￿ whether of angl8rs or Ihe wid8r public. In Mar£h 2008, Wi1dFish was granted charitable status, PTlmarily becausè we were able lo show Ihat Ihe benefits of our work went far wider than just our membershlp or hlslorlc target aud￿nCe. PublK benefit is a major focus, in Ihat WiléFish's charitable objectives p8rmit lh8 use of Ils professional influen¢ing 8nd sc￿nI1[1C skills lo address all issues affecting the mÈnagemenl and proleclion ol salmonid and olhBr fish speeies ol UK origin, as well as th8 water, and Ihe environment upon which all aquatic life depends. It benefits everyone who hès an inleresl in Ihe ¢urreiil and future wellbeing of our riveis, lakes and wellands and lh8 many vaiieiies ol wildlife they support. WldFlsh's public bpnefil has bèen enhanced since 2009 by rneinbership of, and contribution to, the Wildl￿e a Countryside Link, coalition of 94 envlronmental charities wilh a combin8d m8tnb8fship of ovor 8 mllllon paopl&, and 115 sister orgdlllsdtion in Wal8s, Welsh Environrnenl Link which ha$ 33 members. W8 SUPPOrt all our work with sound, peer-reviewed science. gilhér from our own resour￿$ or through our numèroug parlnershlps wilh other like-rnind&d oiganisations, alld, when needed, legal advlce. These ar8 both vital laGlors in contemporary policy an($ decision-making processes.. the first 10 8nsurÈ thot our condusions are backed by ¢r8ditA8 science, and the second to ￿rn1nd Government5 and agencles of their slatulory re5ponsibilitl8s lowards Ihe aquatic environment and f15h 5to¢k conservation. WildFish also has 8 long history ol Èducating pl￿pIe from all baokgTDunds and ages. not only in l&aming how io fish but also in a broad understanding ol the aquatic environment. Our SmartRiv8rs InitiatlV8 Iraln5 volunteer ci112en s¢ienlisls to monitor and identify aquatic invertebrates lo speeies level. thereby albwing them to analyse the water quality in their local rivers and qauge the heallh of Iheir ecosyslem5. We pub115h educational reports and 5cieiitific literature reviews on our web site. We believe this has important SOC1818s well as environmental benefils lo Ihe public who will benefit Irom a greater undersLanding of the issues involved in the aquatic environrnent. A$ 8 result, they will have a belter appreciation In thelr personal IIVBS of the imrK)rtance ol a healthy environtnenl and how they can hdp achieve it. The Charity compli8S With 115 duli8s as required In Se¢lion 4 of the 2006 Ch8ri1i8s Act and pays due regard to guidance published by the Charity Commission. always a¢tino for th& bènefit of the public. Page 2 Is co EGISTERE BER- 050S1S06 REPORT OF THE TRUSTEES FOR THE YEA DED 31 DE ER2 25 ACHIEVEMENT AND PERFORMANCE Report of Operations for 2025 Our work reflects Ihe three b￿gest chEllenges lacing wild fish populations.. Ih8y need abundant, h&allhy and free nowing walei. Each ol our areas of work therefore are deslgned lo combat over-abslraclion, pollutlon and barriers to movoment. These are often interconnected and overlapping. but we dwide our work across three main are3s ol operat11￿5.. SmartRniers. our cllizen science ecological mc￿ll0￿n9 program Waler R6s0ur¢es and Pollulion Salmon Farming, in which our Off The Tabl8 campalgn Is gmbedded. We have rnade gLKxI progress on c¥Jr work in 2025 wilh Ihe dedica18d 5upporl ol our ffletnbErs, donors and in collaboiallon with many other NGOS. We are always informed by the latest avallable sclenliflc evidence and remain commilted lo our Independen¢8. SmartRivers SrnartRiveis is our citizen-5¢Ience pr(￿rarn Irainlng volunteers to sample and idenlify aqu81ic inv8rtebrates to provlde the data to e￿tabliSh the heatth tsr olh&rwise of thelr local rlv&fS. Shifts In Invèrtebrate diversity and abundan￿ reveal difficult to detect chronic pressures acros.￿ fivè key metrics.. reduced flows. chemicals, s8dlmenl, phosphoyus and organic pollution. Our monltoring is comparable to tha regulators tswn and exists lo flll a gap 18fl by Environment Agency IEAI cuts. In 2024 th8 Environment Agency {EAI look 50,000 fewer wat8r quality samples than t￿Y clid in 2013. and they sampled 1,500 rewer sites than in 2019. This has been a pivolol year lof SmartRivers, from inl8rnal expansion to 5￿pOrt the propct to the development of new proce.sses to strengthen volunteer eng3gemeni. Within the SmartRwers nelwoik we now have at least four years of continuous data on 46 rivers. creating invalua￿e long Ifirm dalasels. Bèyond oijr tore methodology of inv8rtebrate monitoring we have also been actlveby pllotlng olhEI technlues lo expand the monitoring tods available lo StnarlRivers groups. SmartRivers already Stands out for its methaddoglcal riwur. bul thesè pllot projects could result in some exciling and pioneering science for our network. These case stud￿$ (lem￿Strate the brgadlh of whal we have baèn able lo achigve IhroLoh the SmartRivers program in 2025.. Welsh Dee Trust The Wdsh Dèe Trust volunteers h8V8 used SmartRivers monitoring slnce 2021. Focusing on Ihre8 key tribut8ri8s (the River Ajyn. River Ceiriog, and Aldford Brookl, Ihey have adapted their approach over Ilrne lo fil th8ii conseNalion &fforts. This year they are adding a new sile to comFlement a projeet In the Mdlord Brook ¢al¢hmenl. There, professional SmarlRivers sample analysis is proviéing ecological groun(ling to citizen science chemical testing. The data ¢ollecled hert has underpinned our legal effort5 to ac¢e$s ra￿￿e[s. pesticide use rtrcoid in Wale5. This is a continuation ol our work In 2024, and if we are Succéssful, th's will establish a natlonal precedent.. thai we h8v8 a right to know about what is happening in otjr riv8rs. Chllterns Conservatlon The Chillerns Conservation Board group has been condu¢ling SrnartRivers monitoring in the Rlver Ch@ss lor four years. This year, they 8xpanded their network by adding a new river Ilhe Hamblo 8rookl. which is Cu￿nIlY undergoing 519nilicanl restoralion. The bnonitoiing provides a baseline lof thi5 restoration work while also offering an opportunity lo learn more aijout the winterbouTne communlty. As chalk streams, both rivers support rare and ecologically valuable habitrt5, maklng this monitoring particularly imptsriant. Whliowater Valle Conseyvatlon Societ Th8 Vvhilewalei Vall&y Conservation Society group had concems over Ihe delerioialing stale ol Iheir Ghalk stream, particularty regardlng s6dltnenl pollution and abslraGllon nèar the source. In 2017, Ihey commissioned three yo8rs of piolessional invertebrale monitoring lo Improve their understanding of water quality. This year, they got in touch to restart the monitoring and InvesUgal8 whether condllions have chatwed since their orfginal survey. Page 3 WILD FISH CONSERVATION REGISTERED NUMBER.. 05051506 REPORT OF THE TRUSTEES OR THE YEAR ENDE ECEMBER 2025 Ta nt Salmon Alli After enrdling in 2021, this group has applied Sm8rtRivers monlloring in 8 dlfferent rivers. ThL8 y8ar they have focused monitoring efforts on the Rlver Lyon and have linked wat8r chemistry lesling. Water Resources and Pollution {Water Action) Fish need their water to be heallhy, Iree flo¥ving 8nd abundant. Each of OUT projects apyies targeted pres￿re lo mov8 us cIDser to these favourable condltions for fish and th8ir habitals. We use scientific evldence, includin9 the d318 gathered through SmariRlvers, and the 18W to campaign against the interconnccted threats lo sustainabl8 and healthy wild fish populations. Last y8sI wè laLJn¢hed our No Capacity. No dev81opn78nl ¢ampaign lo address the Pfolound misalignment betW88n the regulation ol water and sewage and the planning system. We began in February with the public8lion ol our iepoil lil8d No Capadly, No Development. Th8 suggestions that we m2ke in the report are to update natiDnal pdicy 10 iequiro.. capacity assessments., rn3kn.ng water companles statu￿rY ¢on5uliees'. allowing water companiès to refus8 lo connect when thore is no capacity.. and having developers to fund the Infrastructure upgrades neoded to bulld the ne¢essary capacity. Our campa￿nIng has already had some su¢¢ess8s, with Ihts Govornmenl now promising in their Water While Paper to inlioducè more join8d-up planning lor w8t8r resources and sewage and to make watèr companies stalulory consultees lor planning applications. Thè Cunl This year has boon m8rk8d by th6 Watèr Commission's tall for &videnc8 and subs8qu8nt revlew ovérÈ8•n by Sir John CunlilfÈ. While the out¢omes were bF08dly disappointing. our proposed recommendatk)n for ending Operaior Self- Monltoring has gained traction and will be tnade law. We also ask8d for a more joined up approach lo water resour¢es, sewage and planning developtnenl. and the Gov8rnmenl h£s said il will, to some de9rge, be taking Ihis lopmard. Water cotnpanies will a150 now be mad8 statulDry ronsullees for planning applications. r Envl I Prot8 In December the Office lor Environmental Protection IOEPI publlshed a report on Ihb regulation of Combln6d Sewgr OverNow5 ICSOS) which Is anDlher slep in the long process of investigating vhether ihe EA, Defra and Ofwat have Com￿led with their 1É981 duties In response to 8 complaint WldFish made Iwo years ago. Thls follows our 8x18n5ive work. b8g￿nnIng In 2022. 10 981 Ihe law on sewag8 8nlorced aAd lo end ill8gal discharges. Th$ OEP has re¢ognis8d our central role In making these changes possible. Abstract. This y8ar began wllh one of Ihe drlast spdngs since re￿rdS began. Much of England is already ¢hrtJnically water stressed, and yel we continue to abslracl 14 billion litres of water è day. We published a repod reviewing lh6 slate of ab5traGlion currenmy. We beli8ve that we must have publlcly avallable. real-time measurements of the volume of water b&ing abslracted from rivers, we musl end abstraction on chalk strearns and have proper 8nforcemonl ol long t8rrn plans to reduce overall abslractlon. Our r8seaich also makes il clear Ihal there ne8d5 to be a thorough review of abslraclion licen(￿5. Chalk St ams In July we wrot8 lo the Secretary of State lor the Environmènl Its ask him lo designate all chalk 51reams in England Spgcial Areas of Cons8rvalion ISACsl. Th8y proposed that th8 Water Framework Directive IWFDI provides adoouate proleclion, though the Cunliffe Review has rècommended watering down the prot8clion this allords. and our own StnarlRivers data has shown clearly thal even e￿stillg WFD assessments ale ￿DI lit for putP05e lo prolect chalk streams. In 2025 SmartRlvers provided monlioring coinparatAe lo the EA'S own rnonitoring lor 24 chalk streams. Of Ihes8, 20 chalk SI￿am8 now have three or more years worth ol d81a. On the rivèr Avon, flowing through Wlllshirts and Hampshir8, wè now have ten years of data from 2015 to 2024. Thi8 year we puUished g r8pori, lil¢ed A Decade ol Decline, detailino the results of Ihal monitoring.11 showed significant doclines in invertebrate communities, particulaty of our riverfles, whlGh are 8 5eTisiiive group of sentinel species. Abundance dropped drarnalically. Howevw. according to Ihe Water Frarnework DirectlV8 IWFDI, the siles we monilorod all 61111 gol 'high' Score. which doe5 not Teflecl the clear downwards trend we ob5etved in river heallh. Page 4 WILD FISH CONSERVATION REGISTERED NUMBER.. 05051506 REPORT OFTHETRU5TEES FOR THE YEAR END 31 DECEMBER 2025 s Abstraction Ll In Septembei 2024, WildFish discovered that the abstraction license foi thE River Choss a globaSly rare Chalk streatn- had been restsrted, supwsecly to manage flood risks, under a Section 20 8gre8monl betsvoen Ihe EA and the water cotnpany. Thames Waier. We asked the EA lor the environmental assessment. whi¢h they prepared after we ¢onlacted them, but which proved tts be 6ntir8ly Inad8qu8t8. When we Idlowed up with Iha Agency, they r8vok8d the abslraclion licence lor Chesham Pumping slalion and are working on a more general proposal. W8 are stlll investigaling wh81her the EA is using the same method fgr flood conlrol on other chalk slre8ms. iv rTos rou ht Order Laler in thè year w8 al80 challenged Souih&m W3t8rf5 (SWI Drought Order applScation on thé Rlver Test. Thls would have increased the volume of water Ihat SW could Éibstracl during peiiods of low flow to incr8ase publK supply. During the one-day hearing, in whlGh WildFish was th8 5018 objector. our lawyers argu8d that the assessments of 8nvironmenl darnage and compensation were inadequale. South8rn Walor wilhdrow Iheir application 5horUy after Ihe h8aring. Constructed wedands, Artificial wellands bullt lo dean waste wa18r that contains hlgh levels of pollutants, parlicul8rfy phosphate which ¢onlributeS to the eutrophication of aqualit habitals. are being proposed and irnplement8d wldely, Bul the evid&nc& suggests that they are not an adequate solutlon. The extent lo which wÈJands remove phosphales is highly vaiiaue. and depends on many factors including retention lime, wetland d88ign and how fast thg weland plants are growing. We have Ihereforg challenged their use. uaculture - Salmon Farmin WildFish ha5 conslslently been a leading voice opposing the catastrophic harms to wlld fish and their habltals caused by Industrial salmon farming. Thls year our work has 5pann¢d from opposing individual planning applications with locsl comrnunily groups. lo national legal chaI￿n99$ around certificaknon ol famied salmon, and launching our Oft Tho Talye campaign with patinets in the USA. There is a stark gap bètwoen Ihe pi¢lur8 that 15 palnted in salmon farffl marketing matgrials and the operèlional realltl8S. In February of this year we published The R8alily Gap, a report explortno Ihe differences b8hve8n how the Scollish salmon farmlng industry pre58nl8 It5811 and th8 truth b8n88th the surfa¢è. Using sophlslicated marf(8ting t8chnlques. misleading certffication schem88 and celebrity èndorsements, the industry creates an image of a sustainable product lied deeply io Scolland's natural heritage. We continue to oppose greenwashing across the board. Cost Benelit Anal 515 Re Al th8 end of the year. in collaboration with th8 Scottish Inshore Fisheries Trust ISIFTI. we also tommi8sioned resgarch from indep8nd8fjt analysts on the econornic daims made by th8 Scott￿h salmon farming industry. Using Sky8 and Locha15h as a case study. though likely indicative of broader trends in Scotland. thi5 report show5 that thè 6¢onomlc bengfils of salmon larming lo co4$1al cornmunili88 ill Scotland are often ov8rslat8d, and the costs understated. The laims are owried and operaled by vast tnullinallonal oory)oralion5. and yet they benefit Irorn public subsldies. lax breaks and weak, minitnally enforcèd regulations. Once again, th8 damage 15 felt by coastal cornmunllles and the envirolltnEnt. Indust èals a alnst SEPA In 2015 WildFi5h, then Salmon & Trout ConServat￿n. called on the Seotlish Gov8rnm8nl Ihrough a formal petition lo mprove and strengthen thèlr16glslalive and r8gulatory control of marine fish farms. Over len years in ihe making, In 2025 SEPA announced that they would introduce varialions lo fish fa￿ Iicens8s, al last acknowletyging Ihal Ih8ir system wasn't working. These new regulali01is will do lillle lo imwove the situation, even if they are slriclly enforced, but. in response. hundreds of fish farmers hav6 8ppealed the new regulations @n m8sse, effe¢lively delaying their introduction indefinitely. The proposed r8gul8lions cannot be Èn8e18d Ljiilil every one ol the 210 colmplaints have been proce55ed. WildFish 18wyers have submitted detailed represenlaiions against these appeals, bul this has onrE again highlighted why WildFish must US8 every availaue tool to approach the problem of Industrial salmon open net fartning. Page S IL ISH CO 10 REPORT OFTH TRUSTEES R YHE YEAR ENDE 31 DECEMBER 2 Soil This year we won a rnajor victory when we asked lo see Ihe Soil Asso(xatK)n's $eci8t inspection report5 01 the salmon f81ms Ihey are ceriifying in Scotland. They refused, bul, whÈn we comOalned. the Informallon Commissioner ruled that th* insp8Ction records must b8 madè available. The Soll Association appealed this d8C15ion in Novgmber and wè partlGipaled 8s r8sry)ndents, providing evidenTr at the hearing. We were successful In malnlainlng Ih81 these re(x)rds should be public. Geo r8 Along with our wider work on certilicalion, we have also spent Ihe last several ye8r5 challenging the Prole¢led Geographical Indication IPGII that currentSy applies lo Scottish salmon. Al the slart ol the year we lost our first appeal to pievenl lh8 PGI boing alt8red Irom Scolb5h fartnfd salmon to Scottish salmon. De5pI18 8vlden¢e to the contrary, tho industry su¢Lessfully argued that the average ¢onsumer would know that salmon is faimed. However. 5horUy afterwards an unidated "cartel ¢a$8 b8tween supermarket5 and the salmon farming industry. the Competition App8als Tribunal rea¢h8d an interim decision Ihal there Is likely no sgnificanl differenc8 belween Scottish and NoThvegian larm8d s3lmon. which we have argued undermines the case ft>r S¢ollish salmon lo have PGI statu5. We applled lo DEFRA lo the Scollish salmon PGI. which they r&fused in October because WrfdFish aFparenily do not have a "18gitirnate Inte￿81. but we have appealed Ihls loo and are expecling a hearing al some point in 2026. Ro al Warrant After three decades of supplying the royal Househokj wlth farmed salmon, Ihis year Mowi have had their Royal Warrant dropped. Though they did not publidy give a reason for Ihis chaNJe. lh8 move came shortly after we sent 8 18tt8i asking to s8e the 5u51ainability a5sessmenl. which every Royal Warrant holder musl pass. bul whKh Mowi would surely have faileé. We nev8r saw Ihe sustsinability assessm8nl. Off The Table Off The Table is a movement of chefs. ￿$taurantS, alld food lov8rs committed lo r8moving farmed salmon from Iheir tables and sharing why this matters. By the end 012025. our n8lwoik had gFown to over 250 chefs across the UK arKI t&n olh8r countries spanning four conlinenls. supported by mof9 than 60 organisations wortdwide. Th8rè is an appetite for actlon whorever the environmental harms ol salmon farffling a￿ evident. A defining moment came with Ihe autumn launch of Off The Table USA in two pllot ¢lties. This carnpalyn was developpd in collaboration with Cox Enterprises. This parin8rship brought expertise and resources to Ihe ¢ampaign 8nd atlra¢ted high-profile American chefs including ￿lce Waters. significantly raislng thé movement's international profile. Our annual Chrlslmas mobilisslion Campaign, litnfd (o ¢oin¢id& with salmon's tradltional place on hollday tables. saw over 1,800 m8mb8rs of the putlic pledge not lo buy, serve, or eat farmed salmon. This consumer-lacing work Comple￿￿￿t8 our chef parlnetshlps. creating rnultip18 pressure points for chango. By addressing both supply-sid8 regulation Bnd deffland-SKle bghaviour, we crea18 a cOMp￿￿enSIVe strategy for protecting wild fish populations and m8rine eGosystems. Pag8 6 WIL FIS co SERVATIO EG15TER 0505 506 EPORT OF THETRU TEES HEYE R ENDED DE EMBER 2025 FINANCIAL REVIEW WEldFlsh has a dlverslfled fundln base com risin Members subscriplions and dDnalions Grant-making Tru8ts, including the John E118rman FOUndat￿)n and Esmaè F31rf)airn Individual donab.ons anc£ bequ&sts FundFaising evenls, including an on4ine auctian Investment dob ectlvo The TriJ51ees have considered the most appropriato pdicy foi invgsling fund5 and employ the servlces of Cana¢cord G8nUrty, WI￿ the objectwe of oblaining both income and capital growth. The investrnent slralogy aim5 to P8rfotrn above Ihe ratg Df inlatlon and attempts to generato balanc8d r*lums through dlversified investments. in line ￿th Socially Responsibl8 Investment wjlicy, with a maximum 8quity weighting of 60Yè. Tho valualion of WildFish's investmerl in the fund as al 31st December 2025 wa5 £606,2381£335,834 as al 31s1 Decernber 20241. The Trustees ketsp the investment under regular review. Flnancial Perfomiance WildFi5h's ros¢rves were £838,060 at 31 December 2025 (£437,332 al 31 December 20241. ￿r reserves stand in excess ol our slated policy ol providing six monlhs, cover of business overheads. Restricted use funds are accounted lor and applied for the sole purpose for }￿Ich Ihey are provided. WildFish has not historically receNed, or sought, finan￿81 support from Governmenl or ils Agemes. bul the Trustees res8rve the rlght to accEpt publit funds in the future lor re5e8rch proje¢ls. especSally those Ihal hav8 the potential to inform official decision-making over relevant 18su85. WMdFlsh will nol accopt any financial sijpport which cornpromises WildFish sols pay and rornuneralion of key personnd in linè wilh the current m8rk6t In other similar-sized charit19s an environmental oroanisations. Salaries are reviow8d annually by TN51ees. PRINCIPAL RISKS AND UNCERTAINTIES Reservo5 olic 11 is the aim of the Iruslees lo maintsin reserves at a18v81 that would permit tha charity to cov8r business overheads lor a peiiod ol at teasl six rnonlhs in the case of unlorese&n events. The trustees consider that a level of $1x monlhs provides sufficient time to scale baGk a¢livili&s if there was an unexpected reduction in funding. Al 31 December 2025 r8s8rves amDunted to £838,080. Six months staff and business overheads costs amounted lo £484.288 $0 th8 staled resgNes pdicy is met at the year 8rnJ. Th6 reslri¢led fund5 received wer8 spent on the ar88 specified. Unreslrict8d lunds arg US8d to fund proje¢is where Ihe is a shortfall in r98trict8d lund& Page 7 co SERVATIO Is ERED NUM 06 REPORT QFTHE TRUSTEES ENDED 31 DECEMB 25 FUTURE PLANS WildFish's strategy 15 to maintain ils focu5 on a small number of crilically itnportant issues. as we dld in 2025, and lo work wllh other organisallons principaly the Blueprint foT Water Coalition and Fish Legal where relevant. These WorkSt￿am$ will include.. Sm8rtRlvers We VI￿1 continue to establish local hubs undgr our Sm8rtRlvers inilialive training volunleei cits.zen scientist5 10 saM￿e and Klenlify aquatic invertebrates and to analyse the re5ulling data lo determine the health or otherwise of local rivers. Our tar9el for 202615 lo expand our hubs t¢)watds a goal of 60 throughout the LIK and to expand our national database of lh& resulting d8ta wlth opèn a¢cgss lor 811 to infotm both local and national polici85 to proiecl r￿VerS, wild fish and aquatic Fresh Water Our work is focos$8d on using evidence from SmarlRivers and watgr ￿MpanI&S to seek local and national Improvomenls to Willer quallty and water quanllly. Much of this work will highlight the urgent need lor enforc8m8nt ol a rall ol oxisling leglslation io piot&ct our wild fish an(5 their waleis. We are working to encourage Government and Water Companles to take urgent action 10 501ve the water supply deficit. Lack of investment in allernatiV8 sources of sUp￿Y means our rivers are at risk from ov8r-abslraclion in times of drought. We are actively lobbying loi the Governmonl to 18ck1e chemical pollution frorn agriculture as well as ￿ndu$1ry. We wll be reporting on this ovef the year io educat8 and inform the public of thi$ dire threat to rivers, h8alth. Salmon Farrnlng WildFish'5 work for the for8se8abl8 future will be lo campaigrn for Closu￿ of op8n.net salmon lanns to protect Allanli¢ salrnon and Sèa trout from interactions wlth farmed salmon. W8 aro now carnpai9ning to P8r5uade chefs. food wrilers and olher influencers lo boycoit farmed salmon. Alongside Ihi5 work, we will continue to campaign for.. Scottish Gov8mmgnl to adopt legal r8SPOll5ibilrty lo prole¢l wild salmon and sea trout from Ihè impads of salmon farming and lo impose much Iighler regulation on the industry with Ihe express purpose of prolecting wild fish. An inde￿nden1 agency lo carry out the regulation against sea IKe trigger levds that prote¢l wild f15h. with the sanCt￿n ol forced harvesting on persistent offenders. A moratorium on esiablishinglexpanding farms In Sensitive locations Unt￿ lighter regulation is Imposed on th8 industry- and thÉJ movement of existing lamis away from tnlgrallon routes. A moratorlum Is the fifst slep in a phased ssation of salmon farming. Off The Table We will oontlnue lo grow our foolprint In the UK and int8rnationally. Our target for the nexl 12 months is to bU￿d our hospitalily supporters to over 100D oul8ts and to add s8v8ial restauranl chains. We will also be growing wid8r publ engagement through local events. Wa105 We whl conllnue lo address agriculluial pollution and c085t81 neltlng in 2026. In partlcular, wo will conlinu8 to grow SmartRivgrs in Wales. This will gN8 U5 thè local e￿dence we requi￿ to campaign for WeSsh Gtsvemm8nt to pmvide suIIKienl resources lo prolect Imgile rivenne habilal. We remain concerned Ihat National R850urces Wales INRWI- the Welsh environmenlal regulator. has insulfi￿ent resources lo do its job. Pag@ 8 Is CONSERV 10 EGIS 0505 50 REPORT OF THE TRUSTEES RTHE EARE DECEMBER 2 STRUCTURE NANCEA AGEME Governl document The charity Is controllod by its governing document. ils MÈmorandurn and Artides of A5soclallon. and constitutes a limited company, limited by guarantee, as d&fined by the Companl&s Acl 2006. ani$atl 81 Structurè A total online community of 44,518, wth approximalely 11,554 subscribers, induding 3160 ordinary and Life members and 120 syndicates and Glubs las al 31 DeGEtnber 20251 support WildFish's work. Members pay a rnlnlmum annual or life siJbsGription towards thè work of th8 Charity, pliis, In many cas8s, add dDnations. The metnbership sch8me. for new members. c8a58d lo e￿￿1 in Novetnber 2024 and moved to a wuring donatioN scheme whith 5ee5 monthly donation5 fiom 70 supporters- 80mè In addition to exi5t5ng membership subscripllons. A Board of Trustees has overall iesponsibilily for funning WildFish. The Board appoints Truslees, and such appDinlmenl$ are advised lo the members of the Charity al th8 Annu81 General Meeting. The Trusl88s appoint their own ch8iFman Iiom within Ihoii rank5. Truslee5 are appointed having due consideration lo the skllls Ihey can bring lo the organisation and also an individual's standing and fitness to become 8 Trustee. The Chief Executive and Chèirman induci new Trustees by oulllnlng the nature of the role, what 18 8xpecled from a Trustee aNI the woiking5 of the Charity. The TnJsl6es have responslblllty for running the Charity and for the oversight of the aclivitkes of the ofllcers and ern￿OYeeS. Five elecled Execulpie Vice Presidents k8gp a watching brief on all aspe¢ts of the Charitys opèration and advise bolh the Chairman and the Chief Executive. The Charitys slalf is headed by Nick Measham, the Chief Executive. and supported by Dr Janina Gray, DeP￿tY Chief ExeGUtlve, faurteen other staff members, and two consultants. A krge number ol volunteérs also a5s1st the Charity at national. regional and local levels. Rlsk mana nt The charily endeavours to et18ure the Board of Trus18e5 has a blend ol professional expertise through which risk Gan be priorilised and rnanaged. A formal Risk Reyister has been compiled and one Trustee has responsibllity lor overseeing the regular review and updgle of Ihe ducumenl. The full Board of Trusie85 ieview Ihe Risk Regisler at least annually. The Risk Register covers govèrnance and managemenl. operatlDnal. financial, external and ¢ompli2nce rtsks and Is reviewed in dètail annually. The opportunity is always taken lo recognise the significonea ol risk factors and where appropriate identlfy w8ys In whlch Ihgy Can bè mitlgated. An annual budgel Is prepar8d and approv8d by Trustee5 and management accounts are produced on a monthly basis. Quarterly performanGe is reported upon by thè Treasurer and dis¢ussod atthe quaiterfy m88ting of Trustees. The charity has no borrowing and principal assets are held In cash and In a fund managed by Canaccord Genuity which $ kept under quarterly rÉview. Computer systems 8re backed up wul8rfy and with offic8s In Folkeston8 and Salsbury risk from loss ol office is rninimised, Slaff Mostly work from horn8. WildFish ￿ntInueS lo operate within ils stated reserv88 policy i.•. rnainlain r8S8rv6S at a lev81 that would permit the charily lo cover business overhead5 lor a period ol at lea51 six months in the case of unloie5een events. Sdialots and accountant5 ale ¢on3ulted for professional advice. REFERENCE AND ADMINISTRATIVE DETAILS R8glstèred Cc*mpany number 05051506 IEngland and Wales) Reglstered Charity number 1123285 Reglstèred office Kingsgate House, North Wing, Ground Floor Newbury Road Andover Hampshire SP10 4DU Page 9 WILD FISH CONSERVATION REGISTERED NUMBER.. 05051506 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 REFERENCE AND ADMINISTRATIVE DETAILS Prlnclpal address Ramshill East Wnterslow Salisbury Wiltshire SP5 1QF Trust8es Mr Robert J Walton KC- Chairman Mr William D A Hicks KC- resigned on 1510912025 Mr Neil H Goop81 Mr Viotor N Begmish Mi Simon M Browne- resigned on os10812025 M5 Angela Webb Mr Robert J Hollis Sir Philip Sludd Bl Mr Carl Sayer Prof lan Cowx Mr Philip Chessum Mr A Digby Flower Miss Lucinda Mantle Chief Exe¢utive- Mr Nick Measham Company Secretary Mrs Kimberley Sargeanl Auditors Shaw Gibbs (Audit) Limited Statutory ALJditor Fleming Court Leigh Road Easlleigh Southampton Hamp5hir8 S050 9PD Bankers Barclays Bank plc Leicesler Leicestershire LE87 2BB Sollcltors Wilsons Solicilors LLP Alexandra House Sl Johns st￿et Salisbury Wiltshire SP12SB Charlty Registered in Scotland Thts charity is also registered In Scolland.. SC041584 Page 10 co 10 Is REPORT OF THE TRUSTEES R THE YEAR ENDED 31 DECEMB FUNDS HELD AS CUSTODIAN TRUSTEE During Ihe aceounling period and as al 31 December 2025 no lunds were held as cusludian Iiuslee. STATEMENT OF TRUSTEES. RESPONSIBILITIES The tru51ee5 (who are alstr the directors of Wild Fish ConseNalion for the purposes of company lawl are responsible for preparing th8 Rèport of the Trusteés and the financi8151818rnents in accordance wih ap￿ltable13W 8nd United Kingdom Accounting Standards Iunitetj Kingdom Generally Ac¢epled A£￿untIng PractiC81. Company law requires the Ir(Jslees to prepare financial slalemenls for each financial y6ar which give a true and fair view ol the slate ol affairs of the ¢harilabl8 company and of the incotning fe50ur¢es and application of resources. Includ1ng lh8 irbcome and expendlture, of ihe ¢harllable company lor that perSod. In preparlng those financial slalements, the Iru51eps ale re4uired to sele¢l suitab￿ accounling pdicies and then apply them ¢on$i51ently'. observe the melhods and princi￿85 in the Charity SORP", make judgement5 and e5timale5 that are reasonable and prudonl., prepare Ihe financial slalomenls on Ihe going concern basis urteGS11 is inappropriale to presum8 Ihat Ihe chafttabl8 company will continue in business. The Iruslees are responsible for k8epSng proper accoLJnling records which disdose with r88sonèble accuracy at any lime the financial posilion of the charitable company and to enable theTh to ensure that the financial statements comply with the CoMpan￿S Act 2006. They are also responsibl8 for saf8guaidlng the assèis of the Charitablg conip8ny and henca for iakin9 reasmable steps lorthe prevention anij d8teclion of fraud and olher Irregulanlies. In 50 far as the Irustees a￿ aware.. there is no relev8nl audit informailon ol which the ¢harilable compan¥s auditors are unawarÉ,' 2nd Ihe iruste8s hav• laken all steps that they ouglil to hav& lak•n io make themselves awar9 01 any relevant audlt infomialion and 10 8slatli5h that the auditors are aware of Ihal information. Member8 of th8 Board of Trustees Metnbers ol the Board of Tru5te?5, who are di￿¢10rS lor the purp058 ol cornpany law and Trustees lor the purp05e DI charily law, who setved during the y88r arid up to the dale ol this rew>rt are set oul on page 10. AUDITORS The auditor5, Shaw Gibbs (Audit) Limited, will be proposed for re•apwJinlment at th8 forthcoming Annual Gener81 Meeting. This r8POrt has been prepared in acwr(Jance wlh Ihe spacial provisions of Part 15 of Companies Act 2006 relaling to 5tnall companies. Approved by order ol the board of Irustees on 5 M8y 2026 and s￿ned on its behalf by.. Mr Robert alton- Tw51ee Page11 DEPENDENT AUD ION E TRUSTEES AND ILD FISH CONS Oplnlon We have audited the financial statenienls of Wild Fish Conservation (the 'charilab18 companll for the year erded 31 December 2025 which cornpr15e the Slatemenl of Financial Activitie5, the Balan¢e Sheet, the Cash Flow SlatemÈnt and noles lo Ihe financial slalem8nt5, induding a summary of Significant aecounling policies, The financial reporting framework that has been applied in their prepaialion is appli¢8ble law and United Kingdom Accounting SlandaFd5, ncluding Financial Reportlng Slandard 102'The Financial Slandard applltable in the UK and Republic of Ireland. (United Kingdom Gsnerally Accepted Accounting Praclicel. In our opiniol) the fihancial stalements.. give a true and fair view of stale ol the charilable comp8nys affaits as al 31 December 2025 and ol its inconNng resources 8nd appLica￿"On ol resources. including its income And expenditure, lor lh8 yeai then ended,. have been propedy prèpared in accordance wilh Uniled Kingdom Generally Accepted Accounting Praclice,. and have been prepared In accordance with the requirements of the Companies Acl 2006, the Charities and Trustee Inveslfflent (Scoilandl Art 2005 and Regulation 8 of the Charities Accounts (Sco￿and} Regulatlons 2006. Ba$1$ for oplnlon We conducted our audit in 8c¢ordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those s18ndard5 a￿ further des¢ribed in Ihe auditors, responsibilities for the audit of th8 financial slatetnen15 se¢lion ol our r&port. We are independenl ol the charitable company in aGcordanc8 with the elhbcal requiremenls that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Eihical Slandard, ai)d we have fulfilled our olhpr elhi¢al iesponslbilitl8s in &ccoidance wilh these requirements. We believe that the audil evid¢nte we have obtained is SLpfficlenl and appropriato to provide a ba515 for our opinlon. ConclusionB relatlng to golny concern In auditing the financi81 slat8m8nts, we have concluded that th8 trust8e5' use of the going concem basss of accounting in the p￿paratIon of the financial slaternenls is appropriate. Based on the worf¢ we have p8rformed, we have not identified any Triaterial uncertainties ￿lating to events or condilions that, individually or colleGlively. may cast signrficant doubt on the charitsble ¢ompany's ability lo continue a$ 8 going )ncern for a p8ri1)d of ai leasl IwdvB months fr(Yn whon the financlal ststements are authorised for issue. Our rgsponsibilitl8s and Iho rosponsibili1￿$ of ihè Iruslèos with respect to going conc8rn ara described in the relevatit sections ol this report. Other informatron The Iruslees are responsible foi the other inforrnation. The other inforrnation coKnpri5es the information included in the Iruslees annual report, other than the linancigl st8lements and Our Report ol Ihe Indep8ndenlAuditors Ihereon. Our opinion on the financial 51at6tnents does not cover Il* other Inf￿F￿alltsn and. 6xcept to the ext8nt olh8rwise eX￿1¢111Y slated in our report. we do not 8xpress any form of assurance C￿￿Usion thereon. In ¢onneclion with our audit of Ihe financial staternents. our responsibility is to read the othèr infomats.on and. in doitVJ so. Consider whether the other informalion is materially inconsi51enl wilh thè financi81 statemen15 01 our knowedge oblaintd in the audit or othenvlse appears to be mateiially misstated. If we idpntsfy such material InconsisienciÈs or appaienl material missialemenls, we aFe reqUI￿d lo determine whether this gives rise lo a material misstalemenl In the financia1 statemen18 ihemsÈlvBs. If. based on the work WB hav8 performed, we Gondude that there is a material mlsslatement of Ihis other information. we are required to report that fact. We have nothing to report In thls ￿gard. Opinlon$ on other matter5 prescribed by the Companies Act 2006 In our opinion, based on th8 work undèrtaken in the cours8 of lh8 audit: the info￿ation given in the Report of the Trustee5 for the financial year for which the financial slalements are prepared Is consistent wlh the financlal statements., and the Report of the Truslees has been prepared in a¢corlanco with appl￿able1Sgal requlremenls. Page 12 EPORT OF T IN WILD FISH CONSERVATIO T AUDI us Matters on whlch we ar8 roqulred to report by exceptlo In the light ol Ihe knowle(Jgg and underslanding of the charilablg company and ils 8fjvironmenl obtained in the course ol the audit, we have not Identified material mi551atemenls in the Report ol the Tru51ees. We have nothing to report in r8specl of the Idlowing matters in relation to which where the Companies Act 2006 and th8 Charities Accounts (Scotlandl Regulations 2006 requ1￿5 us to report to you if, in our opinion.. adequale accounting r8cords have not bgen kept or returns adaquale for our audlt h3vè not been rec8lved from branrhes not visited by us., or th8 financial ststÈmentS 8r8 not In agreement with th8 aecounllnu record$ and r8turn8,' or certain discjosures ol trJslees' remuneration specified by law are not made; or we have not reeeived all the information and explanations we ￿qUIre for our audil- 01 lh& Itustees were nol entitled Io Pfepare the financial 5lalemenls In accordance with Ihe small companies, regime and take advantage ol the sm811 companie5, exemption from Ihe iequiiement lo prepar8 a Slrategic Report or tn preparing the Report of the Trustees. Re5pon51bllitlg5 of trustees As gx ￿ained tnoie fully In the Siatgrngnt of Trustees, Responsibilities, the Irusl8es (who are a150 the d4￿clor9 of the charilable conipany for the purposes ol company lawl are responsible for the pr8paration ol the financial slalem6nls ancs for ￿l￿g satisfied Ihal they give a Iiue and lalr vlew, and for such internal control as the Iruslees detemiine is nece55ary to enable the preparation ol financial slalemenls th8t arè I￿0 Ifom malerial mi851atemenl, whelher du8 to fraud or error. In preparing the financial stalements, the Iruslees are r8spon51ble for assessing the charitable company's ability to conbnue as a going ¢on¢em. disclosing, as applicable. mat18rs related lo going concern and using Ihe going concern basis ol accounting unless the trusleas either iniend to Ilquldale the d)arltable company or to cease operations, or have no rgali5tlc altèrnallve byl to do so. Our rosponslbilities for the audlt of the financial statements We have been appointed as auditor under section 441111¢) of the Charities and Trustee Investmeril ISGOtlandl Acl 2D05 and under the Companies Act 2006 and report in accordance with regulalions mAde under thos8 8CtS. Our objectives are to obtain r88sonabl8 assurance abDUt wh8th8r thè financlal 61alem8nts as a whol8 ar8 fre8 from malorial missial8n18nl. whether due io fraud or 8ffor, and Io issue a Report of the Independent Auditor5 Ihal Includ8s our opinion. Reasonable assurance 15 a high 18vg1 of assurance. but is not a guatanleè that an audit conducted In accordance with ISAS IUKI will alway5 delecl a mat8rial misstalenEnt when it exists. Misstatements can arise from fraud or error and are Considewd malerlal Sf. indivldually or in the ag9regale. they could rgasonably be expecled to infiuenre th8 £Conorn￿ deci5i0ns of users taken on the basis of these fin&nci81 statements. Irregularities, in¢1udiro fraud, are iF}slan￿$ of non-compliance ￿th laws and r8gulation& We design procedures in Ilne th our T8sponsibillties. outlined above, lo detèct maierial misslat8m8nts in respect of irr8gulaiilies. induding fraud. The exlenl lo which our procedures are ¢apablfy gf detetling irregularities, induding fraud is delaled b610w. As part of our audit planning procedures, we identify the 8ignilic8nt 18ws antj règLAations applicablè lo the charitabl8 company based on our knowledge ol Ihe charilable company, the sector in which it operate5 and Irom making enquiries wilh manag8menl. We consider laws and regulations where non-(x)mpll8nce may have a material effect on the financial slat&menls and Ihose which have a dlrect impacl on the financial statements. We identified that the mst S￿nitICant laws and regulation5 durlng the year were compliance with both th£ requirernents of the Companies Act 2006 and with charity law and regulations. Audit proc$dur•s perfomied by Ihg engagement 18am in relation to laws and regulations indud$ making enquires ol man8g&ment as lo any known OF suspected instances of non.complian¢e, maintaining awareness throughout the course ol Ihe audit as to any indi¢ations of non-cotnpliance, ￿VIewIng legd and prolesslonal involca5 and Unllertaking a review of the disclosur88 In the financlal slalem8nts to supporting information and to discbsure checklists. We also cvnslder areas that &ie al a higher risk of causing tnateria1 misslalement in the fSnan¢ial stalemenls due to irregularities, Including those rgsuliing from fraud and how such fraud may occur. We discus5 Wlth senior manag8tnent the key controls in ￿ate to miligale the risk of fraud and enquire as to whether they are 8W8rè of, or suspect. fraudthent actfvities having tsken plAc&. Throughout the audll, we m3inlain an appropriate l&vd of profess￿nal s¢eplicism when provlded wilh informatlon and ex￿an￿110ns. We considtsr the approprlateness ol significant accountlng journals that were processÈd during the year, &S5ess the reasonableness ol any significant accouiiling eslimates and consider whether there were any indi¢alions of bias by management during Ihe year that rèpresent a ii5k ol material mis5taternent due to fraud. We also r,arry out analytical proGfj(5ures to identify any unusual or unexpected variances to expectations as th88e may be an indicats.on ol m8nauernenl over-ride or m8n8oemenl bias. Page 13 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF WILD FISH CONSERVATION Because ol the inherent limitation5 of an audit, there is a risk that we will not delecl all irregulari1185. including those leAdin9 to a material misstatement in the financial statem8nls 01 non-cotnpliance with rtgulalion. This risk increases th8 rnore thal cotnpliance with a law or regulation is ￿MOVed from the events and transactions ￿flected in the linan¢ial statements. gs we will be less likety lo becorne aware ol Instan￿S of non-complian￿. The risk is also gr8at8r regaiding Ir￿QuI￿ritIeS 0￿￿rrIng due to fraud ralhei than error, as fraud invofves intentional Con￿alMeTht, forgery, Collusion. omission, or misr8pre5enlation. A luriher description ol our responsibilities for the audit of the finanaal statements is located on the Financial Reporting Countil's wÈbsite at www.Iic.org.uklauditorsresponsibililies. This d8scriptiDn forms part of our Report ol the Independent Auditors. U58 01 OUT report This report is made solely to the charit8ble comp8ny's members, as a body, in a￿ordan￿ with Chapl81 3 of Part 16 of the Companies Act 2006. and to the charitab18 COmP8lny'S tiuslee5, 35 a bDdy, in ac¢ord8nce with regulation 10 of the Charit￿S Accounts (Scotlandl Regulations 2006. Our audit work h85 b8en und8rt8k8n SO th8t we might slate to the charitable company's members and the tru5t88S those rnatters we a￿ reqUI￿d to state lo them in 8n auditors, report and lor no other purpose. To the fullest extent permitted by law. we do not ac￿p1 or assume responsibility to anyon8 olhei Ihan th8 charitable company aFKI the charitable companls members as 8 body, for our audrt work. for this report, or for the opinions we have formed. Graham Taylor Isenior Statutory Auditor) for and on b8half of Shaw Gibb5 IALKIItI Limited Statutory Auditor Eligible to aci as an auditor in terms of Se¢tion 1212 of th8 Companie5 Act 2006 Fleming Court Leigh Road Eastleigh Southarnpton Hampshire S050 9pD Date.. i 8 YM 201 Pag6 14 LD FISH CO STATEMENY Fl ANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPE R THE YEAR ENDED 1DE MBER 2 DIT RE ACCOUNT 2025 Total fund8 2024 Tol81 funds Unreslricted funds Restricled funds Noles INCOME AND ENDOWMENTS FROM Donations and leg8dbs 971,873 482,313 1,454.186 693,361 Olhei Ir8ding aclivilies Inveslrnenl income Other income 100,633 21,295 100.633 21,295 66.947 112,445 12,323 64,722 Totsl 1,096,752 546,309 1,¢43,061 882.b51 EXPENDITURE ON Rai51ng funds 145,713 145,T13 113,Z28 Charltablo activitiès Genpral W318s Walpr Action Aquacullure Fundraising Sm8rtRivers 386,6e4 388.664 7,059 168,579 168,745 58,425 314,28tt 493,056 7,059 168,579 168,745 58,425 314,280 70,143 99,649 42.968 179,292 Total 534,377 717,088 1,25IA65 998.336 Nel gainslO05sesI on Investments 2.3421 NET INCOMEIIEXPENDITUREI 571,507 1170.7791 400.728 1117,8271 TransfeTS between funds 22 248 0821 248 082 Net movement in funds 323,425 77,303 400,728 1117,8271 RECONCILIATION OF FUNDS Total funds brought forwar(I 2S6,401 180,931 437,332 555.159 TOTAL FUNDS CARRIED FORWARD S79 826 258.234 838.060 437,332 CONTINUING OPERATIONS All inGorne and expenditure has arlsen from continuing acllvitios The notes fomi part of Ihe5e Ilnanclal slalement5 Page 15 Is co 10 EGISTERED NUMBER., OS051S06 BALAN 1DE P SHEET 2025 Total funds 2024 Total fund5 Unre5trict8d funds R$sirietèd funds Notes FIXED ASSETS Intangible assets Tangibl8 ass8ls Investments 14 15 16 26,583 7,791 521 238 26,583 10,879 606 238 3,088 7,168 335,834 555,612 88,088 643,700 343,002 CURRENT ASSETS Slocks Deblois Cash at bank 17 18 3,249 71.885 3,249 101,170 178,376 3,707 47,477 97,314 29,285 150 157 103,3S3 179.442 282,795 148,558 CREDITORS Amounts falling dLJe Within one year 19 168,1391 19,2961 177,435) 154,2281 NET CURRENT ASSETS 170,146 94,330 TOTAL ASSETS LESS CURRENT LIABILITIES 590.826 258,234 849,060 437,332 CREDITORS Amount5 falling due alter Tnoie than one year 20 111.000} 111,0001 NET A55ETS 579 826 258,234 838 060 437 332 FUNDS Unrestricted funds R8stricted funds 22 579,826 258 234 256,401 180,931 TOTAL FUNDS 838 060 437,332 These financial sialements have been preparèd in accordance wilh the provisions aplicable lo charitable companies subjèct lo the small companies regime. The finan￿￿1 statements were approved by the Board of Trustees on 5 May 2026 and were signed on Its behalf by.. Mr Robert Walton KC- Ttuslee The notes form part of these financlal slatemenls Pa08 16 WILD FISH CONSERVATION CASH FLOW STATEMENT FORT R ENDED 31 DE MBER 2025 2025 2024 Notes Cash flows from operallng actlvltl•s Cash generated frorn operatlons 362.774 25 4601 Net cash provided byllused inl operating acbvities 362 774 25,4601 Cash flows from inve$tln9 activities Purchase ol intanglble flx8d assols Purchase ol tangible fixed assets Purchase of fixed asset inv8stmenls Salp ol fixed asset investments Interesl received Dividends recelved 133,0001 18,795} 1576,7721 319.028 8,128 18,1331 1292,8441 276.443 1.615 10,708 Net cash (used inyprovided by Investing activitles 281 7721 12.2111 Change In cash and cash equivaltrnts In the reportin8 period Cash and cash equl¥alent5 at the beglnnln9 of the reportln9 period BI,002 137,8711 97,374 135,045 Cash and cash equlvalents at thè end of the reportlng period The notes fortn part of the8& fin8nclal statements Page 17 ON ERVATI THE CASH FL FOR THE YEAR ENDED 3 TATEMENT EMBER 2025 RECONCILIATION OF NET IEXPENDITURElnNCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net In¢omellexpenditurel lor the reptsrtlng period las per the statèmènt of Flnancial Activitlesl Adjustment5 lor.. Depreciation charges IGalnsllLosses on investments Inter85t iecgivfyd Dividends roceived Decrea58ll1nG￿ase} in slwks IlncreaseyDecr8ase in Ileblors Increa5ellOecwsel in creditors 400.728 1117,8271 11.S01 19.1321 111.6561 19.6391 458 153,6931 34,207 4,773 2,342 11,6151 110,7081 417 90,651 6,507 Net egsh provldod byllused in) oporations 362,774 25,4801 ANALYSIS OF CHANGES IN NET FUNDS Al 1.1.25 Cash flow At 31.12.25 N8t ¢a$h Cash at bank 178 376 178376 Total 178 376 The notes form part of these Ilnancial stat8men15 Page 18 WILD FISH 10 OT THE FINANCI STATEMENTS FOR THE YEAR ENDED 31 DE EMBER 2025 STATUTORY INFORMATION Wild Fish Conservation is a cofflpany limiled by 9uatanlee, registered in EnglaThl and Wale5 and Scotland, wthoul share capltal. the guarantors belng the member5 10 the extent of £1 each. The company's reglstered number and reglsterod offl¢e address csn be found th8 Ttuslees. Report. ACCOUNTING POLICIE8 Basi$ of prepaying the financial statements The financial slalements ol the ¢harilable company, which is 8 putlic benelil enlily under FRS 102, h8ve been prepared in accordance with the Charities SORP IFRS 1021 'A¢eounling and Reporiing by Charities.. Slalemenl of Recommended Practice applicable lo ch8rities preparing their actounls in accordance with Ihe Financial Reporting Standard app1iGable in the UK and Republlc ol Ireland IFRS 1021 leffectNe 1 January 20191,, FinanGial Rgportlng Slandard 102 'The Finanual Roporting Slandaid applicable in the UK and Republic of Ireland, and th8 Cornpanie5 Act 2006. The financial slaternenls have been prepared under the hlstorical cost Eonveiilion, with the 6xceptB)n of invèslmonls which ar8 includgd at m8rk8t value. as modified by the revaluation of certaln assets. The financial slalements have been prepared on a going concem basis as the trustees believe Ihat no maleii unc&rtainlies exist and that lh8 budgeted incom9 and expendilure is suffici6nl with the level ol reserve$ for the Char51y to be able lo continue as a going ¢oncern. The Charlly has no botiowing an(J op8rate5 well withln its stat8d re￿rVeS policy of maintaining a level that would permit the charity lo Gover busines5 overheads for a period of at least six months in the case of unfor8888n events. The trust885 havo consid&r8d the level of funds held and Ihe expected levÈl of income 8nd expÈndilure for a period of 12 months from authorising these financial slatem£tnts. The financi81 statements ar8 presenled in Slerfing, which Is also the functional currency of thÈ company. Income All income is recognised in the Slalement Ol Financial Aclivllles onc8 the charlty has èntillement lo the funds, it is probable Ihat the Income will bè r8ceiv8d and thè amount can be measured rellably. For legacI8S, entltlement is iaken as Ihe eadier of th8 dale on which either.. the charily is awar8 that probaie ha5 b8$n granled. th8 8slate has b06n finallsed and notfflcation ha5 b8en rnade by the 8X8culorlsl to the charity thal a distribution wlll be mad8, or when a distribution 15 received from the estate. M8mb8rship income. including life memb8rship, Is included on a r8ceipt5 basis. Donations are Included when recelved. Incorne frotn grants is reco9nised when the charity has ent￿ement to the funds. Donated facilities and donated professional servlces are tecognlsed in Incom8 at thelr fair value when their economic benefit is probable, il can be me8sured reliably and the charrty has control over the item. Fair v81u61s detemiined on the basis of the v81u8 ol the girl to th8 charity. For example lh8 zmount lh8 charity would be willino lo pay In the opw market for such f8¢ilities and services. A ¢orrespDnding amount Is rocognlsvd in 8xpenditure. ExpenditUT abilllies ale recognlsed as expendllur8 as soon as therè is a legal or constructwe obllgallon committing the charity to that expenditure, it is probable th818 transfer of e¢oncmic benefits will b8 required in setilemenl and the amount of the Dbllgation can be measured reliably. Expenditure is accounted for on an a¢¢ruals b8515 indusive af any VAT whi¢h tsnnot be recovered and has been classified kJnd8r headings that aggregate all cost rela18d to tho calegory. Wh8re costs eannot be d1￿COY allribu18d lo particular headings they have b88n allocalgd lo adiwlies on a basis consistent with the use of resources. Raisin9 funds Raising lunds includes all expenditure incurred by the charity to ralse fvnds foi ils charita￿8 purposes and Includes c051s ol all fundraising aclivitles. evenls and non-¢harltable Ir&ding. Charltable ac¢lvltl85 Cost5 01 charilablg actNities er8 Incurred on th6 charitys gduc3lional operation$, including support CDSt5 such as personnel cosls. membership communi¢ation, education and training, consullancies and travel Costs an(J costs relating to the govemafice of thè charity epportioned to charilabl& aotivities. Govemance costs M8nagernenl and administrat￿11 related costs. Continupd... P£ge 19 co OTES TO THE FINANCIAL STATE AR ENDED 31 DE ENTS . contlnued ER2 ACCOUNTING POLICIES- continued Intanglble flxod assets The cost of a new and upgraded Client Relationship Manager ICRMI software has been capitalised. The new software is a significant upgrade on the previous system, allowing for integration wllh communicatlons sofiwara and addlno long temi value to the ch8ritsble 8cilvllies of the ent￿ty. GRM costs are slated al c0511985 8ccumvlaied amoTtisation and ar8 amortised on a slraight line bass over il's useful life of 3 years. Tangible fixed a55ets Tangible fixed assets are staled al cost less aceumulaled depre¢iation and accurnulated Impairmenl losse5. Depreciallon 15 provlded at tho followlng annual rale5 In order to wrile off each as5el over ils estirnated useful Ille. Fixtures and fittings 33% straight Iln8 stocks stocks are valued al the lowef ol cost and net re81i8able Value. after making due dlowance for obsol8le and slow moving items. Cost irKI￿Se8 811 cosls of purchase. Taxatlon The charity is pxempt from corporation tex on its charilatAe activities. Fund accounting Unreslricled funds can be used in accordance wilh Ihe charitable oty'ectwes al the dISc￿tion ol th$ trustees. Designated fvnds comprise unreslricled funds that have been sel aside by the trustees lor particular purposes. The aim and use ol 8ach designated fund Is set oul in the notes to the finandal stat8m8nts. Reslriclers lund8 can only be used for parkncular re8lric18d purposes wilhin Ihf> objects of tho Charity. Restrictions arise when sp8cified by the donor or wheTTr funds are raised for particular re51rSoted purpose5. The chadly ￿¢OgnIseS that the IDllowing funds ore 0[￿Y held foF speafic purpos88= Juniors Fund- Fund5 faised by supporter5 to fund education and tr8ining initialbves aimed at I￿￿10[s. Aqua¢ulture Catnpalgnlsalmon Farm R8foTm Funds recewed from conlribulors towards lh8 Gost of inv&sligalion8 inlo th8 problems associated Mryth samon farming impacl on wild fish. developing and promoting potenhal solutions induding 38ekirvJ policy and ￿gUlatOry ¢hang8. Wvaler Action - Funds recewed from contribulors towards invesligalions into th8 degiadalion of chalk 8nd other riv8r habitat5, parti¢ularly eXCes￿Ve phosphate input from waterGress lamis, fish farms. 8grlcullure and other sources of diffuse pollution. water abslraclion, and aclion dimed al requiring Government lo establish the required poliaps and resources to ￿slore ¢halk slre8m and other rivers to Ih8ir proper ecologlcal slalus, so conserving th8rn for future g&n818tions. Smart Rivers- Co118Ctin9 species lgvel invert8brale data from rivers acr055 EFlgland both prof8S5ionally IRiverfiy Censusl and using trained volunl?ers ISrnartRiv8ts1 to ascertain the health of thfrir water qyalily by comparing data lo a biurnelric fingerprinting tn(KJel Sel aoain51 four pararneter5 water flow, organlG enrfchmenl, nutrient Iph05phalel enrichment and sedlment. Sea Iroul - fund towards Initlallves to grow awareness ol the pressures on sea trout and gather evidence to infortn strategies and policle5 to prote¢l them across theSr UK range. Fundr8ising- funds recewed to Cover the salary and support ¢08ts of Indivldual employed for the sole purpose of fundraising and markeling for the charily. Wales- funds received lo covèr the legal costs of tackllng Issues affecting aqUa￿c systtsms in Wales 5LKh as agriculltjial pollution 8nd coaslal netting. Foyelgn currehcles Assels and li8bililies in fore￿n Currencie5 a￿ translated into st8rting at the rates of exchange ruling 31 the balanc8 5he8t dale. Transactions in lorgKJn curron¢ios are Iranslal8d into slerfing at the r2t8 ol exchange ruling al the dale of Iransaclion. Exchange differ8nces ère taken into account ill arriving al Ihe opgraling r8sult. Continued... Page 20 WILD FISH CONSERVATION NOTES T THE FINANC AL STATEMENTS . continued FOR THE YEAR ENDED 31 DECEMB 025 ACCOUNTING POLICIES- Gontinued Pension Costs and othor post-retlrement beneflts The Cofnpany contributes lo the pérsonal penslon plans of c8rtaln of Its •M￿OY88S. AJI èmploy885 are eligibl8 to be considered for subsidy ol Iheir pensions. The ¢omp8ny hès designated the S¢ollish Widows Siakehold8r Persion Scheme lo meet the Government's conditions for stakeholder pensions. Conlribulions a￿ charged to ihe Staiern8nl of Financial Aclivities in the period lo which they relat8. Investments Surplus cash is deposlted in money markat 3nd d8posIt ￿UnIs. Investments are recognised init1811y al cost which is normally Ihe Ifansactlon price exduding Iransactlon costs. Subs8quently. they are staled al m8rket value and all r8cognised 9ains and losses Included in the Slat8m8nl ol FSnan¢ial Aclivilies ISOFAI. Trade 8nd other dgbtors Trade and other debtors are measured at transacllon valu8 185S sny Impairrnent losses for bad and doubtfLA debts. Cash and eash eqvlvalents Cash and cash equiva16nts compris6 cash and highly liquid bank accounts. Trade and other creditors Trade and other credilo¥s are mÈasured at tranSact￿)n value. Leasès R8nta15 paid under oporabro 18ase5 ar• included in the Statement of Financial Activitiès on a straight-lino ba8lS over th8 lease tenr. DONATIONS AND LEGACIES 2025 2024 Legaci8S Membershlp income Sponsorship, don81ions and gr?nts 185.418 131,321 1 137 447 146.255 547,106 1454,186 693,361 OTHER TRADING ACTIVITIES 2025 2024 Fufidraising 8venl8 afKI draws 100,633 112,455 The majorily of this in(x)fflè rolales lo Ihe annual auclion. INVESTMENT INCOME 2025 2024 Inv8slment income 12.323 Continued.. Page 21 Is ION NOTE TOT FOR THE YEAR FINANCIAL TATEMENTS- D31DE BER2 25 ontinue RAISING FUNDS Ralslng donations and legach$ 202S 2024 Office costs Rècruitment and r&t8ntion Irrecoverable vai Entertainment and other costs 30,559 19,345 37,625 3,419 21,334 12,963 23.343 2,144 59,784 Othèrtradlng actSvltlos 2025 2024 Administration of fundraising Office costs Irrecoverable val Fundraising events and draws Cost of sale siock 9,287 5.121 8,305 30.967 3,085 4.679 5,831 6.381 31,829 4,724 54,765 53,444 Aggregate amount5 145,713 113.228 CHARITABLE ACTIVITIES COSTS Dirèct Costs Ise8 nota 81 Support costs Isee note 91 Tolals Gener81 Water Actio Wales Aquaculture SmariRiv8rs Fundralslng 316,743 168,579 7.059 188,745 312.133 58,425 71,921 388.664 168,579 7.059 168,745 314,280 58,425 2,147 1,031,684 74,068 1,105.752 DIRECT COSTS OF CHARITABLE ACTIWTIES 2025 2024 Staff costs Members communi¢atK)n5 OHi¢e c￿15 Sundries Education and tr8ining Proiecls and research Consultancies Travel and subsisten¢8 Aquaculture Wales Water Action Fundraising SmartRivers 681,472 42,T04 7,252 599,146 33,053 10.921 1,594 2.209 2,123 14,631 55,349 22,925 69,969 53,764 15,268 136736 1.586 11,140 102301 1 031.fj84 832,459 Continued.. Page 22 co SERVATIO NOTES TO THE FINANCIAL STATEMENT" FOR THE YEAR NDED 10E EM coritinu8d SUPPORT COSTS Governance osls General SmartRlvers 71,921 Supwrt costs. inclltded in th8 above. are as follows.. 2025 Tolal 2024 Total ctivities Smart Rlvers Gen9ral Audilor5' remuneration Auditors, remun8ralion for non audit work Off1¢e Insurance Trusteps expensts L8gal and professl(Xbal foès Olher c051s CRM atnortisalion costs 08preciation of tangible fixgd assets 11,000 2.583 13,404 11,000 2,583 13.404 10.500 748 13.806 27,890 7,690 6,417 27,890 7,690 6,4fj7 15.331 7,491 4,773 io. NET INCOMEIIEXPENOITUREI Net incomellexpendilurel is stated afier ¢h8rgingllcFedltlngl'. 2025 2024 Auditors. r8muneralion Other non-audit seNces Depr8cialioii - owned assels Amort15allon costs Operating lease rentals 11,000 2.583 5,083 6.417 10,500 748 4,773 645 11. TRUSTEES. REMUNERATION ANO BENEFITS There were nD truslees, remuneration or olher benefits for the year ended 31 December 2025 for the year and8d 31 D9¢0mbar 2024. The total amount of 8rnployee benefit5 received by key managerngnt personnel was £169,495. Trustees. expenses The trustee5 are nol paid 8 remuneralion but are enliued to be relmbursed lor out ol PQGket expenses. t￿rIng 2025 no trustees daimod out ol pocket expenses. Conllnued... Page 23 WILD FISH CONSERVATION NOTES TO THE FINANCIAL STATEM NT FOR THE YEAR 1 DECEMBER 2025 tlnued 12. STAFF COSTS 2025 2024 Wages and salarie5 Social security costs Other penslon cost5 577,012 62,970 513.030 50,360 35.75S 681472 599,146 The average monthly number o18mployees during Ihe year was as lolows.. 2025 13 2024 12 Full time rnanagement & admin Part lirne support 14 13 The numbei of employees whos8 employ8e benefi15 lexcluding employer pension costs) ex￿eded £80,000 w88.. 2025 2024 £70,001- £80,000 £80,(N)1- £90,000 Pension costs relating to Ihese employees were £20,81012024,' £7,287). 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslric￿d funds R8Stiictod funds Total lund8 INCOME AND ENDOWMENTS FROPA Donations and legacies 419,209 274,152 693,361 Oth8r trading activities Investment income Other in¢om8 112,445 12.323 5,140 112.445 12.323 64.722 59,582 Total 549,117 333,734 882,851 EXPENDrrvRE ON Raising funds 113,228 113,228 Chailtable a¢tivlti88 G8n8ral Juniors Fund Waler Action Aquaculture Fundraising SmartRlvers 493,D56 493,056 70.143 99,649 42,968 179.292 70.143 99,649 42.968 179,292 Total 806,284 392,052 998.336 Net g8inslllossesl on inv@Stmen15 2.3421 2.3421 NET IEXPENDITUREIIINCOME 159.5091 158,3181 1117,8271 Transfers betweon funds 88 0271 86,027 Net movement In funds 1147.5361 29,709 1117,8271 Continued. Page 24 WILD Is 10 THE FINANCIAL TATEMENTS . conti FOR THEYEAR ENDED 31 DECE BER2 2S 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Uiire5tricled fund5 Reslricted funds Total funds RECONCILIATION OF FUNDS Total funds brought forward 403,937 151,222 555,159 TOTAL FUNDS CARRIED FORWARD 14. INTANGIBLE FIXED ASSETS CRM software COST Al 1 Janugry 2025 Addiilons Disposals 33,000 At 31 December 2025 AMORTISATION Al 1 January 2025 Charge for yèar Eliniinated on disposal ,417 At 31 De¢emb8r 2025 NET BOOK VALUE At 31 December 2025 Al 31 De¢8mber 2024 15. TANGIBLE FIXED ASSETS Fixtures and fittinus COST Al 1 January 2025 Addilion5 Disposals 46,996 8.795 At 31 December 2025 51,528 DEPRECIATION At 1 January 2025 Charge for year Ellmlnated on di5P05al 39.828 5.084 At 31 December 2025 NET BOOKVALUE Al 31 Decemb8r 2025 At 31 Dec8rnber 2024 Continued... Page 25 WILD FISH CONSERVATION NOTES TOTHE FINANCIAL STATEMENTS. EAR ENDE 1 DECEMB 16. FIXED ASSET INVESTMENTS Listed Investment8 MARKET VALUE Al 1 January 2025 Additions Disposals Revaluations 335.834 580,300 1317,1511 At 31 Decerrber 2025 606,238 NET BOOK VALUE At 310eLember 2025 606 238 Al 31 D8cember 2024 335,834 All listed investments are held In man8g8d funds and comprise equity share5 8nd gllls. 17. STOCIthgr taxes Other creditor5 Accruals and deferred Income 9,858 25.472 10.955 31,150 5.975 19,089 4,772 54.228 Continued.. Page 3.6 WILD FIS CONSER NOTES TO THE FINANCIAL STATEMENTS . ¢ontinuod FOR THE YE EMBER 2 20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Accruals 8nd deferred Income 11.1)00 21. LEASING AGREEMENTS Minimum18ase paymonts under non-¢ancellab18 operating leases f811 due as follows.. 2025 2024 Within one year Belw8en onè ano five years 600 900 Conlnued... P3g8 27 Is co TES Q THE FINANCIAL STATEMENT ENDED 31 DE EMB conllnued MOVEMENT IN FUNDS Net nKJvement tn funds Transfers between fund8 At 31.12.25 Alfj.1.2S Unfastrict8d funds General Fund R8v8luation Reserve 257,878 562,375 1246,2051 574,048 5,778 256,401 571,507 {248,0821 579,826 Restriet8d funds Juniors. Fund A4uacultiire Campaignlsalmon Fam Relortn Water Aclion Ipreviously Chalkslream) Smart Rivers W81es Soa Trout Fundralsing 1,132 1,517 1.132 9,716 146,8011 55,000 850 175.000 198.5791 85 12,941 150,000 3.062 52,271 178,1fj7 12,941 400 400 180.931 170 779) 248 082 258 234 TOTAL FUNDS 437,332 400.728 838,060 Nèl movement in funds. induded in the above are a8 fdlows.. Incoming resources Resources exp8ndad Galns and losses hAovetnenl in funds Unrestrleted funds General Fund R8valualK)n R858rvo 1,096.752 1534,3771 562,375 9.132 1,096.752 1534,3771 9,132 571,507 Restricted funds Aquacultura Water Action Smart Rivers Wales Fundraising 121,944 70,000 314,365 20,000 1168,7451 1168,5791 1314.2801 17,0591 58.4251 146,8011 198,5791 65 12.941 38 4251 717,088 1170 7f91 TOTAL FUNDS 1 fj43 061 11 2514651 400,728 Conlinued... Page 28 WILD FISH CO ION OTES TO THE FINANCI I'EMENT FOR HE ENDED 31 DECE ER 2025 22. MOVEMENT IN FUhlDS- ¢ontlnued Comparatlves for movement In funds Net rnovernenl in funds Transfers between funds At 31.12.24 Al 1.1.24 Unrestrietetl funds Gen8ral Fund t)esign8ted Fund- Water Action Designated Fund- Coffltnunicalions R8valuatk)n Reserve 401,887 157.1671 186,8421 257,878 2,050 403,937 159,5091 188,0271 256.401 Rgstrl¢ted funds Juniors. Fund Aqu8culiure Campaignlsalmon Farm Reform Water Action Ipreviou51y Chalkslreaml Smart Rivers Sea Trout Fundralslng 1,132 1,132 6.060 105 143,525 400 174,5431 114,2551 28,448 70,000 15.000 3,027 1,517 850 175.000 400 2,032 2,032 151 58,318 88,027 180,931 TOTAL FUNDS 555.159 117 8271 437,332 Cornp8rallve not movement in funds, induded in the above are a5 follow5.. Incomlng resources R8%ource5 exp8ndèd Gains and losse8 Movement In funds Unrestricted funds General Fund Revaluation Reserve 549,117 1806.2841 157,1671 $49.117 1606,2841 12,3421 159.5091 Restrlcted lund$ Junior5. Fund Aquaculture Campaignlsalmon Farm R8for Water Action Ipreviously Chdkstreaml Smart Rivers Fundraising 25,106 55,888 207,740 199,6491 170.1431 1179.2921 42 9681 174,5431 114.2S51 28,448 333 734 392,052 58 3181 TOTAL FUNDS 882 851 998 3361 117.8271 Trah$fer$ between lunds Th8 Iruslees have agreed lo the following contributions from unrestrici&d ancl designated funds: AquaculluF8 Campaignlsalmon FarTrI Refoim £55,000 12024..£70,0001. Waler Action £150,000 12024..£15,0001, Fundraising £40,00012024.. £NILI and Smart Rivers E3.08212024'.£3,0271. Continued... Page 29 Is NOTES TOTHE FINANCIAL FOR THE YEAR ENOE TATEMENTb - contlnv EMBER 2025 23. RELATED PARTY DISCLOSVRES Donations tolalling £1,668 12024'.£1081 were received Iroin the Iruslees and senior management, 8nnual fundraising evenl ti¢kelsll(Trt purcha5esldonalions lolalling £4,311 12024'.£7,2541 were 81so received from the trusloes and senior rn8nagement as well as membershlp subscriptlons totalling £57912024'.£7331. Th&r8 were no olh8r relalad party trans8clions. 24. ULTIMATE CONTROLLING PARTY Wild Fish Conservalion is run by Ihe Trustees, who ale appointed by Ihe Company Members. No individual m8mberllruslee has overall control. LIABILITY OF MEMBERS The cornpany does not havg a share ¢aFxlal and 15 limiled by guarante8. In th8 8vent ol the company b9ing wound up the maximum amount by whlch each mernb8r is li8b18 to coiitribute is £1. There were 11 members al 31 December 202512024- 13 members). P899 30 WILD FISH ONSE VATIO DETAILED STATE FOR THE YEAR ENT F FINANCIAL ACTlVI'fiES 1DEC MBE 2025 2024 INCOME AND ENDOWMENTS Donatlons and l¢gaclt£ Legacies Mèmborship incotna Sponsorship, rjonations and grants 185,418 131,321 1137447 146,225 547,106 1,454,186 693,361 Other tradlng activitie5 Fundraising events and draws 100,633 112,445 Investment Incom& Investment in¢om8 21,295 12.323 Other income Olher incomg Total incomlng resoure•s 1,643,061 882.851 EXPENDITURE Raising donatlons and legacles Office costs Recruilrnenl and ￿tentiOn Irrecoverablp vat Enlert8inn)énl and other costs 30,559 19,345 37.625 21.334 12,963 23,343 90,948 59,784 other tradlng actlvltl85 Administratlon of fundraising Offic8 costs Irrecoverable v8t Fundraising evenls and draws Cost of sale stock 9,287 5,121 6,305 30,967 4.679 5.831 6,381 31,829 54,76S 53,444 Charltable actlvltles Wages Social 58cudty Pensions Members communiealons orri¢e ¢osls Sundnes Education and training Projects and research Con5ull8ncies Travel and subslsten Carried forwarLI 577,012 82,970 41,490 42.704 7,252 513.030 50.360 35.756 33,053 10.921 1,594 2,209 2,123 14,631 662,083 22,925 775.947 ThSs page doe5 not lomi p8rl of the slatulory lindncial statements Page 31 Is GO 10 ETAILED STATEMENT R THE YÉAR ENOED 3 F FINANCIAL ALTIVITI EMBER 202 2025 2024 Charltable aGtlvltl?$ Brought forward Aquaculture Water Action SmartRiv8rs Fundraising 77S,947 69,969 53,764 136,736 662,083 55,349 1,586 102,301 11.140 1,031,684 632,459 Support ¢o$t$ Governan¢g c05t$ Auditor5, retnuneration Auditors, remunemtion lor non audit work Office insurance Trustees exwn86s Legal and profes$ion81 f88s Other costs Amortisalion costs D8pr8ciation of fixtur8s and thttings- Sm8rtRivers Deprecialion of fixlures and fittings 11,000 2.583 13,404 10,500 748 13.806 27,890 7.690 6,417 2.147 2.937 15,331 7,491 2.532 2,241 52,649 Ttslal re80urces expencsed 1 251465 998,336 Net incomellexpBnditurel belorB galng and 10sSaS 391.596 1115,4851 Real¥$ed recognised gains an(110$seS R981ised gainslllossgsl on IiKed inveslm8nts Unieallsed gain511105sesl on investments a8s8t 1,877 1.185 rixed asset Net Incomellexpendlturel 400 728 117,8271 Th15 page does not form pail of Ihe slalulory finanr.ial 51al@menls Page 32