Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-31211281936140215398853204167589215458793546941408542024-03-31false2023-04-01not blank65 08399778 2023-04-01 2024-03-31 08399778 2022-04-01 2023-03-31 08399778 2024-03-31 08399778 2023-03-31 08399778 2023-04-01 08399778 2022-04-01 08399778 c:CompanySecretary1 2023-04-01 2024-03-31 08399778 c:RegisteredOffice 2023-04-01 2024-03-31 08399778 d:PlantMachinery 2023-04-01 2024-03-31 08399778 d:PlantMachinery 2024-03-31 08399778 d:PlantMachinery 2023-03-31 08399778 d:ComputerEquipment 2023-04-01 2024-03-31 08399778 d:ComputerEquipment 2024-03-31 08399778 d:ComputerEquipment 2023-03-31 08399778 d:CurrentFinancialInstruments 2024-03-31 08399778 d:CurrentFinancialInstruments 2023-03-31 08399778 d:CurrentFinancialInstruments 3 2024-03-31 08399778 d:CurrentFinancialInstruments 3 2023-03-31 08399778 c:FRS102 2023-04-01 2024-03-31 08399778 c:IndependentExaminationCharity 2023-04-01 2024-03-31 08399778 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08399778 b:Trustee1 2023-04-01 2024-03-31 08399778 b:Trustee2 2023-04-01 2024-03-31 08399778 b:Trustee3 2023-04-01 2024-03-31 08399778 b:Trustee4 2023-04-01 2024-03-31 08399778 b:Trustee5 2023-04-01 2024-03-31 08399778 b:Trustee6 2023-04-01 2024-03-31 08399778 b:Trustee7 2023-04-01 2024-03-31 08399778 b:Trustee8 2023-04-01 2024-03-31 08399778 b:RestrictedIncomeFunds 2023-04-01 2024-03-31 08399778 b:RestrictedIncomeFunds 2022-04-01 2023-03-31 08399778 b:TotalEndowmentFunds 2023-04-01 2024-03-31 08399778 b:TotalEndowmentFunds 2022-04-01 2023-03-31 08399778 b:RestrictedIncomeFunds 2024-03-31 08399778 b:RestrictedIncomeFunds 2023-03-31 08399778 b:TotalEndowmentFunds 2024-03-31 08399778 b:TotalEndowmentFunds 2023-03-31 08399778 d:WithinOneYear 2024-03-31 08399778 d:WithinOneYear 2023-03-31 08399778 d:BetweenOneFiveYears 2024-03-31 08399778 d:BetweenOneFiveYears 2023-03-31 08399778 d:ComputerSoftware 2023-04-01 2024-03-31 08399778 d:ComputerSoftware 2024-03-31 08399778 d:ComputerSoftware 2023-03-31 08399778 1 2024-03-31 08399778 b:Activity1 2023-04-01 2024-03-31 08399778 b:Activity1 2022-04-01 2023-03-31 08399778 b:Activity1 b:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 08399778 b:Activity1 b:TotalRestrictedIncomeFunds 2022-04-01 2023-03-31 08399778 b:Activity1 b:TotalEndowmentFunds 2023-04-01 2024-03-31 08399778 b:Activity1 b:TotalEndowmentFunds 2022-04-01 2023-03-31 08399778 b:TotalUnrestrictedFunds 2024-03-31 08399778 b:TotalUnrestrictedFunds 2023-03-31 08399778 b:TotalRestrictedIncomeFunds 2024-03-31 08399778 b:TotalRestrictedIncomeFunds 2023-03-31 08399778 c:FullAccounts 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08399778
Charity number: 1156118











RIVER THAME CONSERVATION TRUST
(A company limited by guarantee)








UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the Company, its Trustees and advisers
1
Trustees' report
2 - 5
Independent examiner's report
6
Statement of financial activities
7
Balance sheet
8 - 9
Notes to the financial statements
10 - 25

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024


Trustees
Dr M Barnett
Mrs S M Cattell (appointed 28 November 2023)
Ms J J Jackson
Mr N J Marriner
Dr K McCullagh
Mr C O Peers
Mr B S Piper
Mr D A Wales

Company registered number
08399778

Charity registered number
1156118

Registered office
Unit 16, Wheatley Business Centre
Old London Road
Wheatley
Oxford
OX33 1XW

Company secretary
Dr K McCullagh

Accountants
James Cowper Kreston
Greenharm Business Park
2 Communications Rd
Newbury
Berkshire
RG19 6AB

Bankers
Barclays Bank plc
264 Banbury Road
Oxford
OX2 7DY

Page 1

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and the financial statements of the company for the year ended 31st March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1st January 2019).

OBJECTIVES AND ACTIVITIES

The charity's objectives are to improve the quality and biodiversity of the River Thame and its surrounding freshwaters and to improve public understanding, appreciation and enjoyment of the river catchment and its wildlife. The Trust operates in Oxfordshire and Buckinghamshire and works with local people - volunteers, farmers, and landowners - in rural and urban parts of the catchment to improve biodiversity of the river and its surrounding freshwaters and to improve public understanding and enjoyment of catchments and their wildlife.

The Trust's activities include:

• Improving biodiversity and habitat resilience through practical works on-the-ground; 
• Increasing understanding of and monitoring changes in the bird, fish, insect and plant life of the Thame   catchment;
• Improving water quality through engagement with landowners, farmers, the community and water     companies, as well as monitoring and reporting water quality in the river and its streams;
• Improving knowledge, understanding and appreciation of the freshwater environment of the River Thame   through communication and engagement;
• Increasing the recognition of rivers and streams in local planning frameworks.

Strategic principles

The Board continued to endorse the Trust's strategic priorities based on four themes:

• Partnerships. The Trust will encourage delivery partnerships with other NGOs with complementary    interests.
• 
Biodiversity. The Trust's Conservation Committee emphasised the need for a strong biodiversity focus,   concluding that project delivery programme should focus on a new high profile programme of     floodplain restoration, targeted in the mid and lower Thame.
• 
People. The Trust’s activities should continue to maximise volunteer led practical / citizen science    projects and community education programmes.
• 
Financial Sustainability. The Trust should endeavour to diversify and enhance its income and to    strengthen its reserves in order to provide adequate working capital and financial sustainability, especially  
          as many project grants are paid retrospectively.
 
ACHIEVEMENT AND PERFORMANCE
During 2023/24 the Trust again made substantial progress through successful delivery of projects, increasing the number of volunteer activities, consolidating the farm clusters and raising recognition of the Trust as a reliable delivery partner.  Such progress has helped the Trust bid successfully for projects under new national initiatives such as Landscape Recovery and Biodiversity Net Gain.  These projects are in line with the Trust’s medium and long term strategy requiring recruitment of additional staff both to deliver the projects and to provide additional management/financial support for a small, but growing charity.

Two key Projects delivered in 2023/24

The Chalgrove Brook is a rare chalk stream featuring a population of wild brown trout, however the presence of barriers and obstructions emerged as significant factors impeding the resilience and abundance of fish populations. Funding from the Environment Agency (EA) Water and Environment Investment Fund (WEIF), was used to create a bypass channel at Stadhampton Mill that allows fish to navigate past the old weir, thus opening up approximately 3.25 km of vital chalk stream habitat for brown trout and other species. 
Page 2

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
 

The Chearsley Floodplain Restoration project created a wetland mosaic to increase ecosystem benefits like aquifer recharge, nutrient filtering, reduced flooding, and habitat provision all while retaining the field as lush grazing pasture for livestock. The project was made possible by working in partnership with Freshwater Habitats Trust and the Environment Agency to design and deliver the new wetland on the ground. The project could not have been undertaken without the support of the landowner and local farmer Rose Dale and was funded through Defra’s Green Recovery Challenge Fund and through our Environment Agency funded Engaging with Farmers project.  This site has become another stepping stone for wildlife along the River Thame floodplain corridor, leading on from our first wetland project at Eythrope.

Volunteer activities

Thanks to our dedicated volunteers and partners the Chiltern Rangers, over 400 meters of chalk stream were improved as part of our Chalk Stream Strategy funded by the Environment Agency.

The Trust has run a course for volunteers to become certified Riverfly monitors. Volunteers were trained to accurately sample aquatic invertebrates, measure the health of rivers and monitor for pollution events using Riverfly Monitoring Initiative (RMI) methods.

The Trust’s Water Quality Monitoring Network continues to train volunteers to sample, measure, and record data on a monthly basis from designated sites across the Thame catchment. The data collected is publicly available and is enabling the Trust to better understand pollution sources, their ecological impact, the required actions including engagement with regulators, the water industry and other parties.

Recognition

The increased recognition of the Trust’s achievements and profile over recent years is shown by the award of two projects which fall within new national initiatives to restore and maintain the natural environment.
Funded through the Department for Environment Food and Rural Affairs’ (Defra) new Landscape Recovery programme, farmers and landowners across Oxfordshire and Buckinghamshire are collaborating with conservation charities to find innovative ways to secure a better future for the region’s wildlife.  A pioneering project led by the Freshwater Habitats Trust and the Trust involves more than 90 landowners and other partners.  The project aims to protect and enhance wildlife and environmental resources, at a landscape scale across the Ock and Thame Catchments while simultaneously meeting the vital need for high-quality food produced by British farms.
Biodiversity Net Gain, commonly referred to as BNG, is a legal requirement in England aimed at offsetting biodiversity loss resulting from development by improving habitat or creating new habitat either within the development site itself, or offsite. BNG revolves around the central tenet that specified developments (e.g. housing and infrastructure) should yield a net positive effect on the surrounding ecology, surpassing the pre-development state. BNG is now a legal requirement; the Environment Act requires the majority of planning consents in England to demonstrate a 10% uplift in biodiversity (compared to pre-development).
  
One of the first national BNG projects is being undertaken by RTCT in collaboration with the Trust for Oxfordshire’s Environment (ToE) and a member of Thame Valley Farm Cluster.

Farm Cluster

The Thame Valley & Lower Thame clusters have been amalgamated into the one large, joined-up, Thame Catchment Farm Cluster, with RTCT acting as cluster Facilitator. More farmers with land along the Thame are being invited to join the cluster to fill gaps in the network.  The cluster is working towards a more formalised structure which will allow for the planning of more strategic and significant gains. The cluster will continue the farmer knowledge exchange programme and continue moving forward with smaller projects that all farms can deliver.


New Staff 
A part-time Financial Controller was appointed at the start of 2023/24. New project budgeting and reporting processes have provided greater transparency and accuracy to the Management and Statutory Accounts, and
Page 3

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
 
particularly where overheads are not fully covered. Two new project staff have also been appointed for major new projects starting from April 2024, as the charity scales up its activities.

Financial Review

With the new Financial Controller starting in April 2023, there were demonstrable improvements to the structure and formatting of the quarterly Management Accounts, which has allowed the Trustees to better understand the key drivers behind the financial performance. There were significant improvements in financial controls throughout the charity, most notably the introduction of a new cloud-based time recording system where staff record their time spent working on projects, allowing complete transparency, and enabling the efficient collection of information for funders when funding claims are being made.

2023/24 ACCOUNTS

During 2023/24, incoming resources totalled £474,601 (2022/23 - £481,161). This was a challenging year for the charity though, with costs much higher than the previous year due to a number of factors, most notably the additional staff costs, and higher than normal overhead costs. During the 2023/24 financial year, approximately 1/3 of our Unrestricted Reserves were used. 2023/24 is seen as a transitional year, caused by the amount of time the project team spent preparing bids for long term funding, as well as adjusting for the higher level of salary costs now being incurred by the charity that arose from the both the increased headcount and cost-of-living increases that could not have been anticipated at the time when bids for project funds were prepared.

It is expected that with two new large, long-term projects secured in 2024, the financial performance for 2024/25 will likely show a big improvement.

GOING CONCERN

The Trustees consider that there are no material uncertainties that would affect the Trust’s ability to continue as a going concern.

RESERVES

At the end of this 12 month period the Trust had reserves totalling £515,293, made up by £337,946 of Unrestricted Reserves, and £177,347 of Restricted Reserves, as set out in Note 18. During 2023/24 surplus funds totalling £150,000 were invested by the Charity in two funds managed by CCLA, which had a market value of £161,125 as at 31 March 2024. 

STRUCTURE, GOVERNANCE AND MANAGEMENT 

The charity is established as a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 12 February 2013. It is under the control of the Board of Trustees. New Trustees are appointed by the Board of Trustees.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr K McCullagh
Mr C O Peers
Mr D A Wales
Dr M Barnett
Mr B S Piper
Ms J J Jackson
Mr N J Marriner
Mrs S M Cattell 
 

 

Approved by order of the members of the board of Trustees and signed on their behalf by:
Page 4

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
 



Dr K McCullagh
Trustee

Date: 12 September 2024

Page 5

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner's Report to the Trustees of River Thame Conservation Trust ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.


Responsibilities and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').


Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.


Independent Examiner's Statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of FCA, which is one of the listed bodies.


I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:


1.
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.
the accounts do not accord with those records; or

3.
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

4.
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].



I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.


This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.



Signed:      Dated: 17th September 2024

Alexander Peal BSc (Hons) FCA DChA     

James Cowper Kreston
Greenharm Business Park
2 Communications Rd
Newbury
Berkshire
RG19 6AB
Page 6

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)


 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024


Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
Note
        £
        £
        £
        £

Income from:







Donations and legacies

2

558

1,009

1,567

3,991
 
Charitable activities

3

442,873

27,564

470,437

477,170
 
Investments

4

-

2,597

2,597

-
 
Total income
443,431
31,170
474,601
481,161
Expenditure on:







Raising funds

5

-

1,260

1,260

17,912
 
Charitable activities

6

336,511

171,159

507,670

439,598
 
Other expenditure

7

-

-

-

83
 
Total expenditure
336,511
172,419
508,930
457,593

Net income/(expenditure) before net gains on investments

  

106,920

(141,249)

(34,329)

23,568
 
Net gains on investments

  

-

11,125

11,125

-
 
Net movement in funds
  
106,920
(130,124)
(23,204)
23,568

Reconciliation of funds:

  





Total funds brought forward

  

70,427

468,070

538,497

514,929
 
Net movement in funds

  

106,920

(130,124)

(23,204)

23,568
 
Total funds carried forward
  
177,347
337,946
515,293
538,497

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 10 to 25 form part of these financial statements.

Page 7

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
REGISTERED NUMBER: 08399778


 
BALANCE SHEET
AS AT 31 MARCH 2024


2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 12 
1,813
3,469

Tangible assets
 13 
4,697
7,218

Investments
 14 
161,125
-

  
167,635
10,687

Current assets
  

Debtors
 15 
72,157
210,605

Cash at bank and in hand
  
294,292
473,233

  
366,449
683,838

Creditors: amounts falling due within one year
 16 
(18,791)
(156,028)

Net current assets 
  
 
 
347,658
 
 
527,810

Total assets less current liabilities
  
515,293
538,497

Total net assets 
  
515,293
538,497


Charity funds
  

Restricted funds
 18 
177,347
70,427

Unrestricted funds
 18 
337,946
468,070

Total funds
  
515,293
538,497

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:


Dr K McCullagh
Date: 12 September 2024
Page 8

 
RIVER THAME CONSERVATION TRUST
 
(A company limited by guarantee)
REGISTERED NUMBER: 08399778


 
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


The notes on pages 10 to 25 form part of these financial statements.

Page 9

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies

  
1.1

General information

River Thame Conservation Trust is a private Company limited by guarantee and incorporated in England and Wales. 

  
1.2

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

River Thame Conservation Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy
The charity has chosen to take advantage of the provisions in the SORP for charities to not prepare as Statement of Cash Flows.

  
1.3

Going concern

The trustees believe, at the time of approving the financial statements, that the charity has adequate resources to continue in operational existence for the forseeable future. Therefore, the financial statements are continued to be prepared using the going concern basis of accounting.

  
1.4

Income

All income is recognised once the Charity has entitlement to the income, after any performance conditions have been met, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised when the charity has been notified of the donation, except where peformance conditions require the defferal of the amount. 

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Page 10

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

  
1.5

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

  
1.6

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

 
1.7

Intangible assets and amortisation

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

 Amortisation is provided on the following basis:

Website costs
-
33%
straight line

 
1.8

Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 11

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

1.8

Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and equipment
-
20%
straight line
Computer equipment
-
33%
straight line

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities.

  
1.9

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

  
1.10

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
1.11

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


1.12

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

  
1.13

Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

Page 12

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

  
1.14

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.


2.

Income from donations and legacies




Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
        £
        £
        £
 



Donations and gifts

558

1,009

1,567





Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
        £
        £
        £



Donations and gifts

2,996

995

3,991



3.

Income from charitable activities




Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
        £
        £
        £




Conservation
Grants and Project Income

442,873

27,564

470,437


Page 13

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Income from charitable activities (continued)




Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
        £
        £
        £




Conservation
Grants and Project Income

403,598

73,572

477,170



4.

Investment income




Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £




Bank interest

2,597

2,597

-
 


5.

Expenditure on raising funds




Fundraising and publicity



Unrestricted funds
2024
Total
funds
2024
        £
        £



Other fundraising costs

1,260

1,260


Page 14

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.Expenditure on raising funds (continued)

Fundraising and publicity (continued)



Unrestricted funds
2023
Total
funds
2023
        £
        £



Other fundraising costs

2,520

2,520

Staff Costs

15,392

15,392



17,912
17,912





6.

Analysis of expenditure on charitable activities


Summary by fund type




Restricted funds
2024
Unrestricted funds
2024
Total
2024
        £
        £
        £




Conservation costs

336,511

171,159

507,670





Restricted funds
2023
Unrestricted funds
2023
Total
2023
        £
        £
        £




Conservation costs

371,990

67,608

439,598


Page 15

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.

Other expenditure


Total
funds
2024
        £


Loss on diposal

-




Unrestricted funds
2023
Total
funds
2023
        £
        £



Loss on disposal

83

83



8.

Analysis of expenditure by activities




Activities undertaken directly
2024
Support costs
2024
Total
funds
2024
        £
        £
        £




Conservation costs

506,920

750

507,670






Activities undertaken directly
2023
Support costs
2023
Total
funds
2023
        £
        £
        £




Conservation costs

439,098

500

439,598



Page 16

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.Analysis of expenditure by activities (continued)

Analysis of direct costs



Total
funds
2024
Total
funds
2023
        £
        £



Staff costs

272,408

209,410
 
Depreciation

5,161

5,084
 
Travel and subsistence

954

7,135
 
Telephone, internet and postage

932

615
 
Subscriptions

846

1,128
 
Professional fees - administration

4,088

6,823
 
Office rent

14,037

8,849
 
Recruitment

6,292

8,900
 
Printing and stationery

1,605

712
 
Office equipment

574

238
 
Miscellaneous expenses

(683)

9,936
 
Information technology

11,899

5,855
 
Audit and accountancy fess

16,126

14,001
 
Conferences and marketing

44

2,836
 
Staff training

693

4,212
 
Conservation costs

169,087

151,596
 
Insurance

2,610

1,768
 
Bank fees

106

-
 
Trustee meetings and expenses

141

-
 


506,920
439,098

Analysis of support costs



Total
funds
2024
Total
funds
2023
        £
        £



Governance costs

750

500
 

Page 17

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.

Independent examiner's remuneration

2024
2023
£
£

Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts
750
500

Fees payable to the Company's independent examiner in respect of:

All other services not included above
2,000
-


10.



Staff costs


2024
2023
£
£


Wages and salaries
231,950
192,590

Social security costs
19,582
16,360

Contribution to defined contribution pension schemes
20,876
15,852

272,408
224,802

The average number of persons employed by the Company during the year was as follows:


2024
2023

No.
No.


Employees
6
5

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:


2024
2023

No.
No.


In the band £60,001 - £70,000
1
-


11.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 18

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Intangible assets


Website costs

£



Cost


At 1 April 2023
5,400



At 31 March 2024

5,400



Amortisation


At 1 April 2023
1,931


Charge for the year
1,656



At 31 March 2024

3,587



Net book value



At 31 March 2024
1,813



At 31 March 2023
3,469

Page 19

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Tangible fixed assets




Plant and equipment
Computer equipment
Total

£
£
£


Cost or valuation

At 1 April 2023
10,779
5,042
15,821

Additions
-
996
996


At 31 March 2024

10,779
6,038
16,817


Depreciation

At 1 April 2023
6,747
1,856
8,603

Charge for the year
1,805
1,712
3,517


At 31 March 2024

8,552
3,568
12,120


Net book value


At 31 March 2024
2,227
2,470
4,697


At 31 March 2023
4,032
3,186
7,218


14.


Fixed asset investments





Listed investments

£



Cost or valuation



Additions
150,000


Revaluations
11,125



At 31 March 2024

161,125




Net book value




At 31 March 2024
161,125

Page 20

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

15.



Debtors


2024
2023
£
£


Due within one year

Trade debtors
70,018
24,868

Other debtors
-
181,799

Prepayments and accrued income
2,139
3,938

72,157
210,605


16.



Creditors: Amounts falling due within one year


2024
2023
£
£


Trade creditors
3,138
18,723

Other taxation and social security
6,148
5,551

Pension payable
2,763
-

Other creditors
1,442
930

Accruals and deferred income
5,300
130,824

18,791
156,028

2024
2023
£
£


Deferred income at 1 April 2023
29,000
71,182

Amounts released from previous periods
(29,000)
(71,182)

Resources deferred during the year
2,000
29,000

2,000
29,000

Deferred income is included within current liabilities within the accruals and deferred income figure


17.



Financial instruments


2024
2023
£
£

Financial assets

Financial assets measured at fair value through income and expenditure
294,292
473,233


Financial assets measured at fair value through income and expenditure comprise of bank and cash.

Page 21

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

18.

Statement of funds


Statement of funds - current year

Balance at 1 April 2023
£
Income
£
Expenditure
£
Gains/
(Losses)
£
Balance at 31 March 2024
£

Unrestricted funds






General Funds - all funds

468,070

31,170

(172,419)

11,125

337,946
 

Restricted funds







Stadhampton Weir Bypass EA Funded

-

133,500

(133,500)

-

-
 
Dorchester Weir - Garfield Weston

37,747

50,000

-

-

87,747
 
Dorchester Weir Bypass EA Funded

-

30,350

(30,350)

-

-
 
Chalk Stream Strategy EA

31,000

28,558

(59,558)

-

-
 
Water Quality Monitoring

-

28,455

(28,455)

-

-
 
Chalk Streams FiPL CCB

-

8,897

(8,897)

-

-
 
Catchment Partnership -CABA

-

18,450

(14,850)

-

3,600
 
Defra Nature Based Solutions

-

1,645

(1,645)

-

-
 
Farmers Engagement EA Funded

-

18,000

(18,000)

-

-
 
Mid Thame River & Floodplain

-

5,000

(5,000)

-

-
 
Rivers Week & Conference

1,680

8,500

(10,180)

-

-
 
Thame & Ock Catchment Partnership

-

15,000

(5,000)

-

10,000
 
Water Vole Recovery

-

14,677

(14,677)

-

-
 
Community Action

-

15,599

(2,599)

-

13,000
 
SusThame

-

66,800

(3,800)

-

63,000
 



70,427
443,431
(336,511)
-
177,347

Total of funds


538,497
474,601
(508,930)
11,125
515,293

Page 22

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

18.

Statement of funds (continued)



Statement of funds - prior year

Balance at
1 April 2022
£
Income
£
Expenditure
£
Transfers in/out
£
Balance at
31 March 2023
£

Unrestricted funds






General Funds - all funds

502,144

74,567

(85,603)

(23,038)

468,070
 


Balance at
1 April 2022
£
Income
£
Expenditure
£
Transfers in/out
£
Balance at
31 March 2023
£






Restricted funds







Bird Atlas Analysis

(693)

1,000

(307)

-

-
 
Catchment Partnership - CABA

2,176

11,750

(13,926)

-

-
 
Chalk Streams FiPL CCB

-

2,800

(2,800)

-

-
 
Chalk Stream Strategy EA

7,373

74,201

(56,787)

6,213

31,000
 
Dorchester Weir - Garfield Weston

-

50,000

(12,253)

-

37,747
 
Dorchester Weir Bypass EA Funded

-

27,999

(27,999)

-

-
 
Farmers Engagement EA Funded

3,929

35,105

(39,034)

-

-
 
Green Deal FHT

-

3,787

(3,787)

-

-
 
HLF Water in a Dry Landscape - Chilterns

-

-

(124)

124

-
 
Mid Thame River and Floodplain

-

21,000

(21,000)

-

-
 
NE Seedcorn

-

24,868

(24,868)

-

-
 
OCE Fundraising

-

-

(1,988)

1,988

-
 
Riverfly Network

-

3,090

(4,246)

1,156

-
 
Rivers Week and Conference SODC

-

6,680

(6,165)

1,165

1,680
 
Stadhampton Weir Bypass EA Funded

-

126,000

(126,000)

-

-
 
ToE Project

-

-

(39)

39

-
 
TW Catchment Partnership Funding

-

4,000

(8,875)

4,875

-
 
Volunteer Network 2023

-

(1,800)

(4,028)

5,828

-
 
Water Quality Monitoring

-

14,314

(15,964)

1,650

-
 
Riverfly - Doyly Cart

-

1,800

(1,800)

-

-
 



12,785
406,594
(371,990)
23,038
70,427
Page 23

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

18.

Statement of funds (continued)



Total of funds


514,929
481,161
(457,593)
-
538,497


19.

Summary of funds


Summary of funds - current year

Balance at 1 April 2023
£
 
Income
£
 
Expenditure
£
 
Gains/
(Losses)
£
 
Balance at 31 March 2024
£
 
General funds

468,070

31,170

(172,419)

11,125

337,946
 
Restricted funds

70,427

443,431

(336,511)

-

177,347
 


538,497
474,601
(508,930)
11,125
515,293


Summary of funds - prior year

Balance at
1 April 2022
£
 
Income
£
 
Expenditure
£
 
Transfers in/out
£
 
Balance at
31 March 2023
£
 
General funds

502,144

74,567

(85,603)

(23,038)

468,070
 
Restricted funds

12,785

406,594

(371,990)

23,038

70,427
 


514,929
481,161
(457,593)
-
538,497


20.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
        £
        £
        £



Tangible fixed assets

-

4,697

4,697

Intangible fixed assets

-

1,813

1,813

Fixed asset investments

-

161,125

161,125

Current assets

177,347

189,102

366,449

Creditors due within one year

-

(18,791)

(18,791)

Total 


177,347
337,946
515,293

Page 24

 
RIVER THAME CONSERVATION TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

20.Analysis of net assets between funds (continued)



Analysis of net assets between funds - prior period

Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
        £
        £
        £



Tangible fixed assets

-

7,218

7,218

Intangible fixed assets

-

3,469

3,469

Current assets

-

683,838

683,838

Creditors due within one year

70,427

(226,455)

(156,028)

Total 

70,427
468,070
538,497


21.


Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £20,876 (2023 - £15,852).  £2,763 (2023 - £331) were payable to the fund at the balance sheet date and are included in creditors.


22.


Operating lease commitments

At 31 March 2024 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

2024
2023
£
£


Not later than 1 year
843
12,240

Later than 1 year and not later than 5 years
843
-

1,686
12,240




23.


Related party transactions


The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2024.

Page 25