Dee Trust Charity Accounts

COMPANY REGISTRATION NUMBER: 06635114

CHARITY REGISTRATION NUMBER: 1127999

Dee Trust

Company Limited by Guarantee

Unaudited Financial Statements

31 December 2025

Dee Trust

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2025

	Page

Trustees' annual report (incorporating the director's report)	1

Independent examiner's report to the trustees	9

Statement of financial activities (including income and expenditure account)	10

Statement of financial position	11

Notes to the financial statements	12

Dee Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 December 2025

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited Financial Statements of the charity for the year ended 31 December 2025 .

Reference and administrative details

Registered charity name	Dee Trust

Charity registration number	1127999

Company registration number	06635114

Principal office and registered	Unit 30 The Malthouse
office	Llangollen
	Wales
	LL20 8HS

The trustees

	Dr R M Lucas
	Mr G H Evans
	Mr G Foulkes	(Resigned 2 March 2026)
	Mr M Pierce	(Resigned 2 March 2026)
	C J Dawson
	Mr N S Jenkins
	Mr J Moores
	Mr S M Robinson
	Ms H R Vineer
	E H Johnson	(Appointed 2 March 2026)
	A M Roberts	(Appointed 4 March 2026)

Company secretary	G H Evans

Independent examiner	Bruce Roberts FCA
	Unit 10, Edison Court
	Ellice Way
	Wrexham Technology Park
	Wrexham
	LL13 7YT

Legal status

The organisation is a charitable company limited by guarantee, incorporated on 1st July 2008 and registered as a charity on 11 February 2009. The company was established under a Memorandum and Articles of Association. The Company Number is 06635114 (registered in England and Wales) and the Charity Number is 1127999 . The liability of each member in the event of winding up shall be restricted to £1.

Recruitment and appointment to the Board of trustees

The trustees of the charity were selected and appointed on the basis of the particular skills and experience they have to offer to the charity.

Risk Management

We confirm that the major risks, to which the Charity is exposed, as identified by the Trustees, have been reviewed.

The CEO believes the Trust is in a strong position going into 2026, with several projects which are fully funded for the year and other potential opportunities. The trust will be able to keep achieving its aims in 2026.

Organisation

Dee Trust (formerly The Welsh Dee Trust ) is governed by a Committee of trustees, who are appointed under the terms of the Articles of Association. The trustees who served on the committee are as follows:

Dr R M Lucas

Mr G H Evans

Mr G Foulkes (resigned 2 March 2026)

Mr J M Pierce (resigned 2 March 2026)

Ms C J Dawson

Mr N S Jenkins

Mr J Moores

Mr S M Robinson

Ms H R Vineer

The day to day management of the Charity is carried out by the management team appointed by the Trustees which includes all the salaried officers. The Trustees provide the framework and direction for the Charity and the application of this is carried out by the staff. Mr P.Powell, chief executive, had day to day management of the Trust and acted in consultation with the Chairman Dr R M Lucas and the Trustees.

Organisational development

The Trust experienced staffing change and pressure during 2025, including a departure, long-term sickness absence and difficulties recruiting a Head of Project Delivery. At the same time, Rob Hirst joined the Trust and strengthened its communications, events and volunteer activity, while Kate Jones joined as a Project Manager and took responsibility for several key projects. Shared task lists, standardised project plans and project risk registers were introduced to improve internal coordination and oversight.

Objectives of the Dee Trust (formerly the welsh Dee Trust )

Objectives of the Dee Trust (formerly The Welsh Dee Trust):

- to secure the conservation, rehabilitation, protection and improvement of the river Dee, its tributaries, streams and watercourses of every description and of the banks, riparian lands and all areas comprising the catchment of the river in all their environmental aspects.

- to secure the conservation (and where appropriate) the rehabilitation of all the indigenous species of bird, animal, fish and plant life in the said river.

- to advance the education of the public in the understanding of rivers and the need for a healthy river in order to sustain animal, fish and plant life therein.

- to advance the education of the public in the understanding of the river bank and its animal and plant life and the need for conservation and improvement of environments of the river and the river bank.

- to advance the education of the public in the need for the proper management of water.

Public Benefit

The Trustees have reviewed the requirement to provide public benefit and are satisfied that the activities of the charity are wholly focused to provide benefit to the general public through its noted aims and objectives, thereby complying with the duty in section 4 of the Charities Act 2006 to have regard to the guidance provided by the Commission.

Review of developments, activities and achievements

During 2025, the Dee Trust (formerly The Welsh Dee Trust ) continued to work towards its vision of a River Dee free of pollution and full of wildlife. The Trust combined practical habitat restoration and pollution prevention with monitoring, citizen science, community engagement and work to improve coordination across the whole Dee catchment.

By the end of the year, the Trust had made strong progress across each of its five programmes.

Restoring River Habitat - 'Restore natural processes and connectivity of rivers to improve habitats for all species'

Water Wise Farming - 'Work with the agricultural industry to reduce the loss of pollutants into watercourses'

Environmental Flows - 'Ensure releases from the River Dee's reservoirs are done in an as environmentally suitable way as possible'

It Shouldn't be in the Dee - 'Create a community-led approach to eliminating sources of pollution'

Catchment-Based Approach - 'Work with organisations to reduce replication and gain the best value for money'

It had delivered and developed significant river restoration projects, revitalised its citizen science work, exceeded its target for downspout rain gardens and strengthened its role in catchment-wide partnership working. The trustees are grateful to the staff, volunteers, supporters, funders, landowners and partner organisations who made this work possible. The following report outlines our progress against our five key programmes.

Restoring River Habitat

The Restoring River Habitat programme delivered practical improvements across the catchment while developing a strong pipeline of future work. During 2025, the Trust completed its 2024 Strategic Allocated Funding and mitigation project, which improved approximately 9 km of riparian habitat across 25 sites. This was the largest project of its type delivered by the Trust.

The 2025 Strategic Allocated Funding project also progressed well. By December, all interventions had been scoped and agreed, with only one intervention remaining for delivery in early 2026. The project was on track to restore a further 9 km of riparian habitat.

The Trust began detailed winter walkovers of target tributaries to strengthen its understanding of land ownership, habitat condition and potential restoration sites. This will provide a more systematic evidence base for prioritising future work.

The Environmental Measures in the Aldford Brook project was successfully concluded during the year. This project worked with landowners to restore habitat features within the Aldford Brook catchment, reducing the ecological impact of low flows caused by abstraction.

The Trust continued to develop opportunities for restoration at a larger scale. Through the Deescapes partnership, it worked with landowners across the Dee floodplain area to identify proposals to restore more than 500 hectares of floodplain habitat. With the anticipated Defra Landscape Recovery opportunity delayed, the Trust submitted an expression of interest to the Natural England Species Recovery Fund for wetland creation and wading-bird habitat across the Dee floodplain, which was

unsuccessful.

Water Wise Farming

The Water Wise Farming programme continued to work with farmers and landowners to identify and address sources of diffuse and farmyard pollution. Delivery was more limited than planned: two farmyard interventions were installed to tackle agricultural pollution, and soil health improvements were delivered across 65 acres. The Trust received two separate £50,000 enforcement undertakings from housing developers that had polluted the River Alyn. Before accepting the funding, the Trust undertook appropriate due diligence to satisfy itself that the pollution had ceased and that action had been taken to prevent it from recurring. None of this funding was spent in 2025 but these projects will provide a substantial opportunity to deliver practical farm improvements in 2026 and beyond.

Through the DeeScapes partnership, the Trust continued to support a farm cluster in developing opportunities for landscape-scale restoration across the English Dee floodplain. These included wetland creation, grassland restoration and measures to monitor and improve water quality and support sustainable farming. The cluster identified significant opportunities for future habitat restoration. During the year, the Trust completed the development stage of an Integrated Nature Recovery Scheme plan for the Morwynion catchment and submitted a £1 million delivery bid to Welsh Government involving 15 farm holdings. The project secured funding, with delivery due to begin in 2026. The Trust also remained well placed to contribute to potential work in the Alyn catchment with North Wales Wildlife Trust.

Environmental Flows

The Environmental Flows programme continued to press for better management of water releases and river regulation for the benefit of wildlife. Earlier in the year, Natural Resources Wales agreed that hydropeaking on the Tryweryn was an issue and that "no regrets" measures could be considered. However, progress during the remainder of 2025 was limited because of a lack of further meetings and constrained resources within Natural Resources Wales.

The Trust continued to raise the key issues through catchment-planning discussions and at the Dee Conference. The developing River Basin Management Plan and the future renewal of the Bala sluices provide important opportunities to secure a more sustainable approach to flows. The Trust will continue to advocate for practical changes and for the needs of the river's wildlife to be properly reflected in decisions about regulation and water allocation.

It shouldn't be in the Dee

The It Shouldn't Be in the Dee programme brings together the Trust's work on pollution monitoring, citizen science, litter, community engagement and sustainable drainage. The programme gained momentum during 2025 as staff capacity improved and new systems were introduced.

SmartRivers and citizen science SmartRivers volunteer events were delivered regularly and attendance and interest increased. Activity at Cynwyd was paused because of low attendance, and the Trust began considering a more accessible alternative location. The citizen science pollution monitoring scheme was successfully revitalised, with many new volunteers trained and a more effective system developed for collecting and using monitoring data. This created a strong foundation for regular training act ivity in 2026.

Wrexham Rivers The two-year Wrexham Rivers development project, funded by the Esmée Fairbairn Foundation, began during the year. A steering group was established to bring together organisations with an interest in improving the Clywedog and Gwenfro, and regular meetings commenced. The

project supported litter picks and community engagement while beginning the development of a larger programme of ecological restoration. Earlier discussions with the Coal Authority also explored pollution associated with the historic Minera mine complex.

Litter and community engagement The Trust continued to organise litter picks across the catchment, with a particular focus on rural areas in the upper Dee where few other groups are active. CAF became a business supporter and contributed £2,900 towards a lower Dee litter-picking programme, in addition to a £500 donation. The Trust also began developing a more comprehensive litter-picking plan covering the remaining period of its current strategy.

Volunteer and supporter engagement remained important throughout the year. A volunteer barbecue attracted around 30 people, an event for members of supporting fishing clubs received very positive feedback, and an open evening attracted nearly 100 bookings.

Sustainable Urban Drainage The Healthy River SuDS project made strong progress. By December, downspout rain gardens had been installed at eight sites, with three further installations scheduled. This exceeded the original project target and represented an important step towards the Trust's wider goal of reducing pollution from drainage systems.

The Trust was also invited to assist Forest City CIC with the installation of 16 sustainable drainage planters at Queen's High School in Chester, funded by Dwr Cymru. This provided an opportunity to strengthen the partnership with Dwr Cymru and demonstrate the Trust's ability to deliver practical sustainable drainage interventions efficiently.

Catchment Based Approach

The Catchment-Based Approach programme seeks to improve collaboration, planning and accountability across the whole River Dee catchment. In October, the Trust helped organise the Dee Conference, which brought together professionals working across the catchment. The event was a significant success and reinforced both the need for better partnership working and the Trust's position as a key cross-border partner.

At the conference, the Trust proposed the development of a Dee Accord: a mechanism to improve accountability, shared planning and coordination across the Wales-England border. The proposal generated further discussions with Natural Resources Wales, Natural England and other organisations. It has the potential to provide a clearer framework for turning existing plans and evidence into coordinated delivery.

The Trust also continued to engage with the River Basin Management Plan process and to highlight the need for more joined-up governance between Natural Resources Wales and the Environment Agency. Progress with some existing catchment plans remained slow, including the Dee Nutrient Management Plan and Special Area of Conservation management planning. This reinforced the need for the Trust to continue its role as a convener and advocate for more effective catchment-wide action.

Financial review

The charity reports that these accounts show largely static reserves but it has retained sufficient funds to maintain reserves at an appropriate level for the foreseeable future. The charity continues to actively seek additional funds to allow it to continue to carry out its aims and objectives. It is pleased to report that the Green Match Fund appeal raised £16,398, the Trust's highest result to date both in the value raised and the number of donors. The Trust also secured an additional storage room at the Malthouse for use from January 2026, purchased a replacement vehicle for £19,800 and sold its former vehicle for £3,600.

Investment Policy

The Trustees investment power is governed by the Memorandum and Articles of Association. As funds need to be readily available for designated project costs the Trustees have a policy of keeping any surplus as liquid funds in deposit accounts that can be accessed readily.

Reserves Policy

At the year end the Charity's liquid unrestricted reserves stood at £137,776. The Trustees intend to maintain reserves equivalent to 12 months of outgoing expenditure not relating to specific designated projects, and are aware that work is required to build these reserves back up.

Trustees Responsibilities

We are responsible for ensuring that the company operates within its objectives and meets the financial and legal requirements of the Companies Act 2006 and the Charities Act 2011.

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing those financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP:

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements:

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of

fraud and other irregularities.

The trustees are responsible for ensuring that the company complies with laws and regulations applicable to its activities and for establishing arrangements to prevent any non-compliance with laws and regulations and to detect any that occur. This includes the maintenance and integrity of the corporate and financial information included on the charitable company's website.

The trustees are also responsible for determining whether, in respect of the year, the charity meets the conditions for exemption from an audit of the accounts set out in the Companies Act 2006 (Commencement No 6, Savings and Commencement Nos.3 and 5) (Amendment) Order 2008 (SI 2008.674).

Under the Charities Act 2006 (Charitable Companies Audit and Group Accounts Provisions) Order 2008 (SI 2008.527), in respect of the year, the availability of the exemption from an audit of the accounts causes the charity to require an Independent Examination and the trustees are responsible for appointing an Independent Examiner to make a report to them as trustees of the charity.

Independent Examiner

A resolution to appoint Bruce Robert FCA of Bruce Roberts & Co Limited as Independent Examiner for the ensuing year will be proposed at the annual general meeting. Bruce Roberts has expressed his willingness to act in this capacity.

Plans for future periods

The Trust entered 2026 with strong opportunities across all five programmes. Confirmed multi-year funding included the Nature Networks-funded Restoring the Dee Together project, which will deliver the It Shouldn't Be in the Dee programme in Wales, fisheries habitat funding from Natural Resources Wales and ongoing work within the Dee floodplain. The Trust will also continue to develop the Dee Accord and pursue larger opportunities for turbidity reduction, landscape recovery and riparian shading.

The trustees recognise that these opportunities will require careful management of staffing and organisational capacity. Growth will therefore be approached in a way that protects the quality of delivery and the Trust's long-term financial and operational sustainability.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 17 September 2026 and signed on behalf of the board of trustees by:

Dr R M Lucas	G H Evans
Trustee	Charity Secretary

Dee Trust

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Dee Trust

Year ended 31 December 2025

I report to the trustees on my examination of the Financial Statements of Dee Trust ('the charity') for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (who are also the directors of the company 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"). Independent examiner's statement

Since the charity’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 the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW)

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

- the accounts do not accord with such records; or

- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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

- the accounts have not been prepared in accordance with the Charities SORP (FRS102).

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.

Bruce Roberts FCA

Bruce Roberts FCA Independent Examiner

Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT

17 September 2026

Dee Trust

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 December 2025

	2025			2024
	Unrestricted funds	Restricted funds	Total funds	Total funds
Note	£	£	£	£

Income and endowments

Donations and legacies	5	40,136	–	40,136	36,630
Charitable activities	6	37,131	355,310	392,441	466,634
Other trading activities	7	63,560	–	63,560	289,349
Investment income	8	811	–	811	2,662
Other income	9	14,100	–	14,100	5,000
		---------	---------	---------	---------
Total income		155,738	355,310	511,048	800,275
		---------	---------	---------	---------

Expenditure

Expenditure on raising funds:

	Costs of other trading activities	10	242	–	242	141
Expenditure on charitable activities		11	291,971	217,359	509,330	836,260
			---------	---------	---------	---------
Total expenditure			292,213	217,359	509,572	836,401
			---------	---------	---------	---------

	---------	---------	---------	---------
Net income/(expenditure) and net movement in funds	( 136,475)	137,951	1,476	( 36,126)
	---------	---------	---------	---------

Reconciliation of funds

Total funds brought forward	274,251	–	274,251	310,377
	---------	---------	---------	---------
Total funds carried forward	137,776	137,951	275,727	274,251
	---------	---------	---------	---------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Dee Trust

Company Limited by Guarantee

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible fixed assets	16	16,830	–

Current assets

Shop Stock	17	1,191	1,433
Debtors	18	23,568	205,749
Cash at bank and in hand		265,662	108,724
		---------	---------
		290,421	315,906

Creditors: amounts falling due within one year	19	31,524	41,655
		---------	---------
Net current assets		258,897	274,251
		---------	---------
Total assets less current liabilities		275,727	274,251
		---------	---------
Net assets		275,727	274,251
		---------	---------

Funds of the charity

Restricted funds		137,951	–
Unrestricted funds		137,776	274,251
		---------	---------
Total charity funds	20	275,727	274,251
		---------	---------

For the year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its Financial Statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Financial Statements .

These Financial Statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These Financial Statements were approved by the board of trustees and authorised for issue on 17 September 2026 , and are signed on behalf of the board by:

Dr R M Lucas
Trustee

Dee Trust

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 30 The Malthouse, Llangollen, Wales, LL20 8HS.

2. Statement of compliance

These Financial Statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The charity constitutes a public benefit entity as defined by FRS 102.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity is a small charity and is taking advantage of reduced disclosure as follows: (a) No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.

Fund accounting

Funds held by the charity are either: 1) Unrestricted general funds - these are funds that can be used in accordance with the charitable objects at the discretion of the trustees. or 2) Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fund are raised for particular restricted purposes.

Incoming resources

Income is accounted for on a receivable basis, when the charity becomes entitled to the income, it is probable it will be received and the amount can be estimated with reasonable accuracy. Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included. Income from investments when held is included when receivable, as is income from legacies. Grants Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable, unless they are restricted grants for expenditure in a future accounting period as specified by the grantor, in which case the income is then deferred. Income from contracts Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. This is exclusive of Value Added Tax.

Resources expended

Costs of raising funds comprise the costs of those associated with attracting voluntary income, and the costs of trading or service provision for fundraising.

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its members. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, including those support costs associated with the constitutional and statutory requirements of the charity and include the independent examiner's fees and costs linked to the strategic management and future development of of the charity, together with back office costs, finance and personnel. They are included on an accruals basis, inclusive of any VAT that is not recoverable.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. time spent.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor vehicles	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. Limited by guarantee

The organisation is a charitable company limited by guarantee, and has no share capital.

5. Donations and legacies

Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
£	£	£	£

Donations

Donations and Gifts	40,136	40,136	36,630	36,630
	--------	--------	--------	--------

6. Charitable activities

	Unrestricted Funds	Restricted Funds	Total Funds 2025
	£	£	£
Grants	37,131	355,310	392,441
	--------	---------	---------

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Grants	26,420	440,214	466,634
	--------	---------	---------

7. Other trading activities

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Shop income	304	304	538	538
Government and other contracts	63,256	63,256	288,811	288,811
	--------	--------	---------	---------
	63,560	63,560	289,349	289,349
	--------	--------	---------	---------

8. Investment income

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Bank interest receivable	811	811	2,662	2,662
	----	----	-------	-------

9. Other income

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Other income	14,100	14,100	5,000	5,000
	--------	--------	-------	-------

10. Costs of other trading activities

Expenditure on trading activities

In the year the trust raised funds by the sale of maps.

Total expenditure was as follows:

	2025	2024
	£	£
Purchase of stock	–	–
Stock movement	242	141
	----	----
Totals	242	141
	----	----

11. Expenditure on charitable activities by activity type

Costs reflect the amounts spent on the main resource expenditure heading - Charitable expenditure. Costs are allocated across this heading using various allocation methods such as Staff time spent, direct expenditure and usage of the facilities or services provided. It should be noted that under this basis some items such management costs include elements of estimation.

The amount of management and staff time spent on each aspect of the service: activities (service delivery), fund-raising and governance, is reviewed to reflect as accurately as possible the amount of time spent on each activity. Governance costs include those incurred on legal and financial advice, servicing the trustees' meetings and those associated with development and statutory requirements. The trustees believe that this reflects the intent of the SORP (Statement of Recommended Practice).

The total resources expended on each activity were:

	2025	2024
	£	£
Raising funds	242	141
Charitable expenditure	509,330	836,260
	---------	---------
Per SOFA	509,572	836,401
	---------	---------

Charitable activities expenditure

	Basis of allocation	Charitable Activities	Governance and support costs	2025	2024
			£	£	£
Staff costs	1	178,680	31,603	210,283	225,863
Charitable activity costs	3	265,118	–	265,118	566,512
Training and workshops	3	2,886	–	2,886	1,630
Admin costs and expenses	3	2,496	7,489	9,985	25,304
Rent	3	–	10,967	10,967	10,574
Accountancy and Independent Examination	3	–	7,121	7,121	6,377
Depreciation	3	–	2,970	2,970	–
		---------	--------	---------	---------
Totals		449,180	60,150	509,330	836,260
		---------	--------	---------	---------

Key:

1 - Staff time

2 - Usage

3 - Direct

Total restricted funds expenditure being £217,359.

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible fixed assets	2,970	–
	-------	----

13. Independent examination fees

	2025	2024
	£	£

Fees payable to the independent examiner for:

Independent examination of the Financial Statements	3,000	3,240
	-------	-------

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2025	2024
	£	£
Wages and salaries	174,069	190,964
Social security costs	20,601	18,797
Employer contributions to pension plans	15,613	16,102
	---------	---------
	210,283	225,863
	---------	---------

The aggregate wages costs include an element of wages included under management charges and support costs.

The average head count of employees during the year was 6 (2024: 5 ). The average number of full-time equivalent employees during the year is analysed as follows:

	2025	2024
	No.	No.
Project workers and management staff	6	5
	----	----

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

15. Trustee remuneration and expenses

No remuneration was paid to any member of the Board of Trustees during the year for services rendered as a board member. The trustees were, however, re-imbursed for expenses as and when incurred.

16. Tangible fixed assets

	Motor vehicles
	£
Cost
At 1 January 2025	–
Additions	19,800
	--------
At 31 December 2025	19,800
	--------
Depreciation
At 1 January 2025	–
Charge for the year	2,970
	--------
At 31 December 2025	2,970
	--------
Carrying amount
At 31 December 2025	16,830
	--------
At 31 December 2024	–
	--------

17. Stocks

	2025	2024
	£	£
Shop stock	1,191	1,433
	-------	-------

18. Debtors

	2025	2024
	£	£
Trade debtors	12,425	172,779
Prepayments and accrued income	9,071	20,749
Other debtors	2,072	12,221
	--------	---------
	23,568	205,749
	--------	---------

19. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	20,490	27,178
Accruals and deferred income	3,254	3,891
Social security and other taxes	5,433	9,282
Other creditors	2,347	1,304
	--------	--------
	31,524	41,655
	--------	--------

20. Analysis of charitable funds

	Balance at 1 January 2025	Incoming	Transfers between funds	Outgoing	Balance at 31 December 2025
	£	£	£	£	£
NRW SAF 24	–	77,224	–	(77,224)	–
NRW SAF 25	–	114,958	–	(114,958)	–
Wrexham Rivers Scoping - Esmee Fairbairn	–	45,000	–	(16,840)	28,160
Restoring River habitats - Waterloo Foundation	–	10,000	–	(209)	9,791
Waterwise - Anwyl and Belmont Homes	–	100,000	–	–	100,000
INRS Morwynion Scoping - WG	–	8,128	–	(8,128)	–
	----	---------	----	---------	---------
Totals	–	355,310	–	(217,359)	137,951
	----	---------	----	---------	---------


Total restricted and unrestricted
Restricted (as above)	–	355,310	–	(217,359)	137,951
Unrestricted	274,251	155,738	–	(292,213)	137,776
	---------	---------	----	---------	---------
Totals	274,251	511,048	–	(509,572)	275,727
	---------	---------	----	---------	---------

The nature of the restricted funding is fully described in the Trustees report, but summarised below:

- The Waterloo Foundation committed £30,000 over three years to support the Trust's Restoring River Habitats programme. The programme aims to restore natural processes within the River Dee and its tributaries.

- WaterWise Farming - Anwyl/Belmont. WaterWise Farming works with farmers to reduce agricultural pollution and improve soil health by providing project-management support and funding practical improvements to farmyards and farming practices.

- SAF 24 and SAF 25 are a fisheries habitat improvement project funded by Natural Resources Wales to improve river habitat for salmon and trout

- Wrexham Rivers Development - Esmée Fairbairn Foundation supported the development of the Wrexham Rivers initiative, which aims to involve local communities in the ecological restoration of the Gwenfro and Clywedog rivers.

- The Integrated Natural Resources Scheme Morwynion Scoping Project was funded by the Welsh Government. It supported a group of farmers working at a landscape scale to develop a coordinated plan for habitat restoration across their farms.

21. Analysis of net assets between funds

	Debtors	Creditors	Other net assets	Totals
	£	£	£	£
Restricted funds	10,838	–	127,113	137,951
Unrestricted funds	12,730	(31,524)	156,571	137,776
	--------	--------	---------	---------
Totals	23,568	(31,524)	283,684	275,727
	--------	--------	---------	---------