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2021-12-31-accounts

Report of the Trustees & Financial Statements for the year ended 31 December 2021

Contents

Page
Welcome from the Chair, Founder and Chief Executive 3
Report of the Trustees 4
1. Summary and purposes of the charity 4
Mission and Purpose 4
2. Summary of the Main Activities 5
2.1 The Spear Programme
2.2 Re-Work
2.3 Corporate Culture Coaching
2.4 Social Impact Coaching
2.5 Corporate Engagement & Partnerships
3. Fundraising 8
4. Financial results for the year 9
5. Structure, Governance and Management 9
5.1 Governing Document
5.2 Organisational updates
5.3 Governance and management
5.4 Risk management and reserve policy
5.5 Reference and administrative details
5.6 Provision of support
5.7 Statement of trustees’ responsibilities
5.8 Auditors
Report of the Independent Auditors 12
Consolidated Statement of Financial Activities 16
Consolidated Balance Sheet 17
Balance Sheet 18
Cash Flow Statement 19
Notes to the Cash Flow Statement 19
Notes to the Financial Statement 20

Company Registered No. 4670794 | Charity Registered No. 1100885

Welcome

From the Chair of Trustees

I am pleased to present our Annual Report and Financial Statements for the year ending 31 December 2021.

2021 unfolded with the country still in the throes of Covid-19 restrictions, and the year that followed was undoubtedly a changeable one, presenting us both challenges and a plethora of opportunities.

The pandemic continued to affect our programme delivery and working practices, with the Spear Programme, Re-Work, and Resurgo Consulting’s coaching services all remaining online for most of the year. Our team responded well to shifting national restrictions, pivoting often at short notice to deliver our programs in various hybrid formats. Thanks to their extraordinary effort, we found that in spite of some obvious drawbacks, online and hybrid delivery did not adversely impact those we worked with or our outcomes.

Resurgo being named as one of just five ‘Highly Commended’ organisations in the Princess Royal Training Award Covid Commendation, for our exemplary training response in the face of the pandemic, served as testament to the flexibility of the team, and their dedication to ensuring we continued to provide the best possible support to those who needed it most.

We saw continued growth throughout the year: opening a new Spear Centre in Bournemouth; forging new partnerships with local churches to deliver ReWork, and expanding our corporate coaching offering. Over the year we worked with 855 young people.

We partnered with HTB to support the launch of Love Your Neighbour during the pandemic. Tom Jackson, Resurgo's Founder continues to be seconded to them and we continue to work closely with them and look forward to this strategic partnership continuing to develop in the future.

I want to extend my enormous thanks to each member of the team, volunteer, funder, supporter, and individual connected to Resurgo, for the part they have played in enabling this work. It is both humbling and inspiring to see what can be achieved when we work to transform society together.

Thank you!

Nigel Mapp

From the Founder and Chief Executive

In a year that saw perhaps more shift, flex and growth at Resurgo than any other to date, we are struck by the innovation and confidence of the team; the commitment of our supporters and partners; and first and foremost the resilience of those we serve.

As young people across the country dealt with the fallout from lockdown, experiencing loneliness, mental health struggles and the impact of a curtailed education, our Spear coaches worked hard to uphold our training rooms as safe places of connection and encouragement. The team supported 855 young people across 12 locations, and despite the challenges of a hybrid approach to coaching, we were proud to maintain our outcome of 75% of trainees finding and staying in employment or education. As our inaugural Spear Centre in Hammersmith and Fulham celebrated its 100th cohort of young people, our newest Spear Programme opened in Bournemouth – all the more impressive as these achievements were entirely online.

Re-Work grew in its scope throughout the year; whilst initially launched to support adults made unemployed in the wake of Covid-19, we went on to support 243 individuals across 17 locations from all walks of life, and out of work for a variety of reasons.

Resolute in the belief that positive change within a business will extend outward to society, Resurgo Consulting worked with 27 clients to help them develop a thriving working culture and deepen their social impact. As we seek to help businesses build social fabric well, we prioritised developing our impact consultancy offering as a key goal for 2022.

We exceeded our income targets and kept well within our budgeted expenditure, which allowed for growth in our reserves. These have been actively invested in our strategic goals for national growth.

We closed out 2021 knowing that many were only just beginning to process the consequences of a tumultuous couple of years. Mindful of the ‘aftershocks’ of this incredibly busy time, we are keenly focussed on equipping and caring well for our team.

In that spirit, and with the continued backing of our dedicated supporters, partners and Trustees, we were confident in setting bold organisational priorities for 2022. We are excited for the year ahead, and hugely grateful to all those who believe in our mission and make it possible.

Yours,

Rev’d Tom Jackson MBE & Jo Rice

Report of the Trustees for the year ended 31 December 2021

Trustees’ Annual Report

31st December 2021

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The Trustees have adopted the provisions of 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).

1. Summary of purposes of the charity

Mission and Purpose

Resurgo is a Christian organisation working with all, irrespective of faith background, to relieve hardship or distress, as a result of social and or economic circumstances.

Resurgo means to ‘rise up again’. We believe that everyone has a role in the transformation of society, and that if we each play our part, society will flourish. So, we use our expertise in coaching and impact management to equip and empower businesses, charities, churches and individuals to transform society.

Through our employability programmes, Spear and Re-Work, we help church communities to deliver life transforming services that equip those facing barriers to work in their communities with the necessary life skills and mindset to overcome them and find the contribution they want to make through their work.

And through culture and impact coaching, we equip teams, to work together more effectively, and to identify and pursue the meaningful social change they can create in their communities.

We take impact management seriously, using quality data to inform our operational decisions, and to ensure we are delivering our mission effectively.

4

2. Summary of the Main Activities

2.1 Spear Programme

The Spear Programme is a year-long programme helping young people facing barriers to work into sustainable employment.

Spear delivers award-winning, impact-led coaching, focusing on the attitudes and behaviours that are holding young people back from entering the workforce. Attendees are aged between 16 and 24 and are accepted regardless of background, faith, gender, or any other personal circumstance. In 2021, 87% of trainees face one or more barriers to employment; for example 41% received free school meals and 43% had low educational attainment. 56% of trainees are from UKME (UK Minority Ethnic) backgrounds. There is no financial charge for young people attending the Spear Programme.

The Spear Programme consists of an initial high intensity six-week phase, Spear Foundation, focusing on workreadiness coaching, followed by lower intensity long-term support for the remainder of the year, which is shaped according to each young person’s specific needs. Once in work, coaches continue to provide support tailored to individuals, helping to iron out any issues that may arise to ensure they sustain and advance in their role.

We placed increased emphasis on supporting trainees into education or upskilling through digital training with other providers. As sectors such as hospitality and retail reopened, we ensured our trainees were prepared to access the opportunities available to them. We reverted our programmes to in-person delivery from September 2021.

Throughout the year, we continued to see trainees enter sustained employment, education and training; our most recent 12-month data shows that we were in touch with 95% of completers 12 months after the foundation phase, and more than 75% of them were in work or education. At 3 months, we are in touch with 99% of our trainees, of whom more than 60% are in work or education.

The programme is also growing; by 2021, Spear had supported more than 7,500 young people since its inception and was operating across 12 locations; eight in London, with further Spear Centres in Brighton, Leeds, Bristol and Bournemouth.

For the majority of 2021, we continued to deliver the Spear Programme online, providing trainees access to WiFi dongles and making the online meetings accessible via phone. We maintained enrolment figures with young people from our target population, and in light of the changing labour market, we directed trainees into new employment outcomes such as social care.

We have also developed a lighter touch model of Spear, which we have initially called ‘Spear Express’. This iteration of Spear has a significantly lower cost implication, which enables us to work with church partners in resource-poor areas with high youth unemployment. We plan to pilot this model over the next 12 months.

7500 trainees supported by the end of 2021, across 12 locations

5

2.2 Re-Work

2.3 Corporate Culture Coaching

Re-Work equips unemployed adults from all backgrounds with the skills, mindset and confidence to re-enter the workplace.

Resurgo transforms people’s experience of the workplace through coaching that enables teams to relate well, perform at their best and resolve conflict.

This lighter touch, volunteer-led programme was launched as a post-pandemic response to the mass unemployment that resulted during this time.

In 2021, we equipped 17 churches to deliver Re-Work, many of whom have continued running the programme into a second year. Of the 378 delegates enrolled, 287 delegates completed the course, and we saw 73% of the individuals get into work or further training within 3 months. We have also developed a pilot programme to support the Ukrainian refugees, in partnership with Holy Trinity Brompton which will be launched in 2022.

2.4 Social Impact Coaching

Resurgo delivers bespoke impact consultancy to a range of organisations, helping them re-develop their programmes to maximise their social impact.

We draw on our deep coaching experience to facilitate theory-of-change workshops, helping teams reach greater clarity and focus.

In 2021 we have continued to deepen our partnership with Church Revitalisation Trust and Love Your Neighbour, an initiative set up to mobilise the UK church’s ability to transform communities. We have played a key role in helping them develop their social impact strategy and are continuing to play an active role working directly with their church partners.

Given the constraints of the pandemic, for the majority of 2021 Resurgo continued to deliver this style of coaching online, while retaining the elements fundamental to our coaching approach: light on theory, heavy on practice, with lots of time for discussion and application. Towards the end of the year, we shifted to in-person delivery again.

The team ran in-person and online ‘Coaching for Leadership’ programmes, welcoming clients from a range of organisations across the corporate, non-profit and public sectors. In addition, they ran tailored programmes for clients from sectors ranging from global insurance and recruitment consultancy, hospitality and PR, financial services and publishing, to social ventures, churches and charities.

Our tailored programmes included modules on developing trust, using behavioural preference profiles to understand yourself and others better, and engaging in healthy conflict.

Positive feedback from a number of clients has led to repeat business and we are now developing an even more robust approach to measuring the impact of the programmes on behaviour change and organisational culture.

Resurgo undertook this commercial work through its trading subsidiary called Resurgo Consulting Ltd, generating £422,221 of revenue, a 300% increase compared to £106,513 in 2020. The costs associated with resourcing that level of delivery resulted in a total expenditure of £409,320 to include a gift of £27,560 to the parent charity of Resurgo Trust, allowing for a profit of £12,901 which cleared the loss carried over from 2020.

Resurgo Consulting Ltd is solely owned by Resurgo Trust.

We have also worked with corporate and charitable organisations to help them deepen their social purpose, and were pleased to partner with Impetus to work with the Department for Work and Pensions and the West Midlands Combined Authority to help shape the government’s Youth Hub service.

378

unemployed adults enrolled on Re-Work, of whom 73% were in work or further training 3 months later.

2.5 Corporate Engagement and Partnerships

Resurgo seeks to build strong relationships with the corporate sector in order to further our charitable objectives, to drive engagement across our various initiatives, and to raise charitable funds.

Our corporate partners support us not only financially, but also with their time and expertise. For some, this takes the form of volunteering, such as mock interviewing; for others, it might be welcoming a Spear young person into their workplace.

In 2021, our post-pandemic response saw us set conservative targets. However, our partners exceeded our expectations and continued to engage in both a financial and physical way. Through their continued support and investment, we raised £522,789, which was a 61% increase on the £324,847 in 2020. Corporate volunteers supported with both online and in-person mock interviews, industry panels and company visits, and corporate partners including GMS Estates, Informa and SR Group provided 25 jobs and work experience opportunities for our Spear completers.

In addition to existing partnerships with Discovery, Eight Roads, EQ Foundation, Findlay Park Partners, GMS Estates, Guidehouse, Hayfin, Informa, Jude’s Ice Cream, Knight Frank, MAPP, Oliver Wyman, Spencer Stuart, SR Group, State Street, TowerBrook and Wellington Management, we were pleased to welcome new partners, Hiscox Foundation, McDonald’s, Omnicom and Silverfleet.

We also received donations from staff fundraising on behalf of Cushman & Wakefield, Forrester Partners, Gate One, tml Partners and Roundtable. Twelve corporate runners ran the Royal Parks Half Marathon, raising more than £6,400.

In March we held a virtual International Women’s Day event, sponsored by MAPP. 175 guests logged in to hear Jo Rice, Iona Ledwidge, Satyen Dayal (Executive Director and Head of Diversity and Inclusion at Edelman London), Becky Harding (Centre Manager, Spear Camden) and Fisa (Former Spear Trainee, Spear Ambassador and Researcher at Kea Consultants) discuss ‘Brave Conversations about Race and Diversity: Equipping the workplace to speak honestly about race and bring about meaningful change’.

We are incredibly grateful to our loyal corporate partners for their continued support over the years, even in the midst of change and uncertainty. Their investment allows us to continue to achieve great impact in the lives of those we exist to serve.

259

corporate volunteers supported us with mock interviews, industry panels and company visits

7

3. Fundraising

Resurgo generates income predominantly through engaging with the philanthropic community in the form of trusts and foundations, strategic partners and individual givers by inspiring them to become involved in the social impact of our organisation. The team also receive several grants from the local authorities and host an annual fundraising event to both thank and encourage growth within the donor base.

In 2021, mindful of the financial impact of the pandemic, we set intentionally conservative targets. The generosity of our supporters once again exceeded our expectations, as they continued to invest in our efforts to provide life transforming support to hundreds of individuals who found themselves struggling to get into work due to the pandemic.

Our supporters helped us to raise a remarkable £1,846,695, which was an 8.7% increase on the £1,698,000 raised in 2020. These funds enabled us to deliver the Spear Programme online so that we could continue to reach young people across the UK facing barriers to work and education. We were also able to pilot and launch Re-Work in response to the increasing number of adults facing unemployment.

Our partnership with Impetus has continued to provide not only vital funding, but also invaluable expertise and support to Resurgo as we grow. We are hugely grateful for our partnership with them, and, in particular, for the support of Investment Director, Chiku Bernardi.

This year held a more intimate in-person fundraising party, to both celebrate the achievements of the young people we worked with over the year, and to thank the generous supporters that helped us to continue our work over the period affected by the pandemic. The event raised £247,276 to further enable the various work we do across Resurgo.

We are incredibly grateful to all those whose support has enabled our work in 2021, and in particular those who ran the Royal Parks Half Marathon, and fundraised for us through other sponsored events. Our additional thanks to those who supported our summer match funding appeal, which raised more than £80,000, and to the Childhood Trust who once again made this possible in partnership with the Big Give, in providing part of the match funding for this appeal.

The Trustees would like to make special mention of the following for their generous support of our work:

Resurgo adhere at all times to the legal requirements of the Charities Act 1992 and the Charities (Protection and Social Investment) Act 2016 and any amendments made to them, with specific regard to our fundraising and income generation.

8.7%

increase in funds raised by our supporters compared to 2020

8

4. Financial Results for the Year

Despite the continuation of unprecedented circumstances as a direct result of the Covid pandemic, Resurgo continued to explore opportunities for income growth during 2021. Through the continued support of our donors, trusts, corporate partners and commercial organisations we generated a consolidated income of £3,280,164, which was an 18% increase on the £2,778,555 the year before.

Whilst delivering the majority of our programmes online for the first three quarters, alongside following a cautious budget our consolidated expenditure of £2,121,439 was a mere 2.3% increase on the £2,074,730 the previous year.

This led to an overall surplus of £1,158,725, which in turn increased our total year end reserves from £2,714,282 in 2020 to £3,873,007. In November, we undertook a detailed fund review to ensure that our general funds remained in line with our reserves policy to allow for continued organisational resilience and identified other specific funds which could be ringfenced to support our strategic objectives, including the national expansion of Spear.

Restricted funds decreased by 6% from £318,378 in 2020, to £299,482 at year end, with an increase of 49% in unrestricted funds from £2,395,904 in 2020 to £3,573,525 at year end. These funds, whilst unrestricted, include £1,575,071 of general funds which equate to approximately 6 months of operating expenditure, aligning with our reserves policy. The balance of £1,998,454 has been ringfenced for the purpose, delivery, support and operational costs associated with Spear and our strategic goal to expand into areas where the cost implications are a barrier to growth in partnership.

Our reserves position at year end is evidence of our stringent financial response to the pandemic, alongside the continued generosity and support from our donor base and the growth of our commercial coaching subsidiary. While this places us in a strong cash position at the 2021 year-end, we are mindful that in order to continue to build sustainable growth and organisational resilience, our costs are likely to increase significantly in the next few years and as a result we are anticipating the need to draw on these reserves as we invest in the future.

5. Structure, Governance and Management

5.1 Governing Document

Resurgo Trust is constituted as a company limited by guarantee having been incorporated on 19th February 2003 (Company number 4670794, originally named The St Paul’s Centre) as a limited company, limited by guarantee, as defined by the Companies Act 2006 and is therefore governed by its memorandum and articles of association. Charitable status was granted on 25th November 2003 (charity number 1100885).

The objects of Resurgo Trust are to promote, as an expression of the Christian life and faith, the relief of persons anywhere in the world who are in conditions of need, hardship or distress as a result of local, national or international disaster or by reason of hunger, disease, sickness or their social and/or economic circumstances; and the promotion and support of such other exclusively charitable purposes and institutions as may from time to time be determined by the Trustees of the charity.

5.2 Organisational Updates

At year end Resurgo had 40 full time equivalent staff on payroll, and has responsibility to line manage an additional 22 coaching staff22 coaching staff who are employed by Spear Trusts at our partner churches.

During 2021, Tom Jackson continued his secondment to HTB (Holy Trinity Brompton) to head up the Love Your Neighbour Project, as part of the pandemic response. His salary, and that of his Executive Assistant was largely reimbursed by the Church Revitalisation Trust (CRT), who run Love Your Neighbour.

At the start of 2021, only five members of staff remained on flexible furlough and by the end of March 2021, Resurgo had reinstated the full workforce, without any redundancies, due to the development and launch of online delivery for our core activities.

9

5.3 Governance and Management

The Directors of the company are also the Trustees of the charity and there are no other trustees. The Board has the power to appoint additional trustees as it considers fit to.

Resurgo Trust is managed on a daily basis by an executive team headed by Chief Executive Joanna Rice, who is in regular contact with the Trustees through targeted steering groups, who hold delegated authority from the Board on aspects covering strategy, finance, human resources and safeguarding.

The following persons served as trustees/directors during the period under review:

There is an induction process for all new trustees including an introduction to the key strategies and policies of the charity and trustees’ responsibilities. The induction includes eligibility checks and a statement of conflict of interest.

All Trustees serve a maximum three-year term, where they are re- appointed at the Annual General Meeting each year. After three years of consecutive service, the decision to renew an appointment will be determined in light of a meaningful review led by the Chair in consultation with all Trustees. In order for the Trustee to stand for a further three-year period, there will need to be an overall majority supporting the decision. If there is any doubt, the Chair will make the final decision.

10

5.4 Risk Management and Reserve Policy

The Trustees continue to review and assess the key operational, governance, compliance and risks faced by Resurgo Trust. Targeted steering groups have been established to regularly monitor and manage key areas across the organisation. The appointed Trustees, along with senior management have been given delegated authority to take action, if required, to mitigate any major risks identified. The principal risk is a cashflow deficit should insufficient funds be raised from grants, donations and commercial trading activity, to meet the ongoing cost of operations. To this end, the Trustees have stipulated that Resurgo Trust should normally operate with a minimum of reserves, sufficient to fund at least six months of operating costs. At the year end, the charity's general funds exceeded these minimum reserve levels.

Despite the pandemic, during the year, no significant events occurred that have negatively affected the financial position of Resurgo Trust.

5.5 Reference and Administrative Details

Registered Company number: 04670794 (England and Wales)

Registered Charity number: 1100885

Registered office (as of 11th July 2022) 3rd Floor, Colet Court 100 Hammersmith Road London, W6 7JP

Auditors

Haines Watts (City) LLP Statutory Auditor New Derwent House 69-73 Theobalds Road London, WC1X 8TA

5.6 Provision of Support

In addition to the financial and other support already recognised above, the Trustees would like to thank Haines Watts (City) LLP for their assistance with preparing and auditing the accounts of the charity.

The Trustees would also like to thank the partner organisations in which the Spear Centers are based:

5.7 Statement of Trustees' Responsibilities

The Trustees (who are also the directors of Resurgo Trust for the purposes of company law) are responsible for preparing the Annual 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 Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing those financial statements, the Trustees are required to

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

In so far as the Trustees are aware:

5.8 Auditors

The auditors, Haines Watts (City) LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the Trustees, incorporating a strategic report, approved by order of the Board of Trustees, as the company directors, on:

23/07/202

and signed on the board's behalf by:

Nigel John Godfrey Mapp (Chair of Trustees)

11

Report of the Independent Auditors to the Members of Resurgo Trust

for the year ended 31 December 2021

Opinion

We have audited the financial statements of Resurgo Trust (the 'charitable company') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

However, not all future events or conditions can be predicted. The Covid-19 pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the Trust's trade, donors, suppliers and wider economy. The trustees' view on the impact of Covid-19 is disclosed in the Trustees Report and the accounting policies in note 2.

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Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Blundell FCA BSC (Hons) (Senior Statutory Auditor)

for and on behalf of Haines Watts (City) LLP Statutory Auditor New Derwent House 69-73 Theobalds Road London WC1X 8TA

Date: 28/07/2022

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itie ..4T

Resurgo Trust

Consolidated Statement of Financial Activites

for the year ended 31 December 2021

Notes
Income and endowments from
Grants, Donations and gifts
3
Trading Revenue
4
JRS Furlough grants
Fundraising events
Total income and endowments
Expenditure on
Charitable activities
5
Trading activites
6
Raising funds
7
Total expenditure
Net income/(expenditure)
8
Reconcilitation of funds
Total funds at 1 January 2021
Total funds at 31 December 2021		 Unrestricted
funds
£
1,859,419
416,604
7,164
247,276
2,530,463
680,592
409,320
263,383
1,353,295
1,177,168
2,395,904
3,573,072		 Restricted
funds
£
750,888
-
-
-
750,888
769,785
-
-
769,785
(18,897)
318,378
299,481		 2021
Total funds
£
2,610,307
416,604
7,164
247,276
3,281,351
1,450,377
409,320
263,383
2,123,080
1,158,271
2,714,282
3,872,553		 2020
Total funds
£
2,279,607
138,510
199,323
161,115
2,778,555
1,527,006
151,371
396,353
2,074,730
703,825
2,010,457
2,714,282

There are no other recognised gains or deficits other than the above.

16

Resurgo Trust

Consolidated Balance Sheet

31 December 2021

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank
Creditors
Amounts falling due within one year
14
Net current assets
Net assets
Represented by:
15
Unrestricted funds
Restricted funds
Total funds		 Unrestricted
funds
£
23,416
9,972
33,388
191,168
3,422,895
3,614,063
(74,379)
3,539,684
3,572,072		 Restricted
funds
£
-
-
-
-
299,481
299,481
-
299,481
299,481		 2021
Total funds
£
23,416
9,972
33,388
191,168
3,722,376
3,913,544
(74,379)
3,839,165
3,872,533
3,573,072
299,481
3,872,533		 2020
Total funds
£
30,298
9,972
40,270
145,973
2,555,866
2,701,839
(27,827)
2,674,012
2,714,282
2,395,904
318,378
2,714,282

The financial statements were approved by the Board of Trustees and authorised for issue on

23/07/2022

and were signed on its behalf by:

Nigel John Godfrey Mapp Chair of Trustees

Thomas Shippey Treasurer

Company Number 4670794

17

Resurgo Trust

Balance Sheet

31 December 2021

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank
Creditors
Amounts falling due within one year
14
Net current assets
Total assets
Net assets
Funds
16
Unrestricted funds
Restricted funds
Total funds		 Unrestricted
funds
£
23,416
10,073
33,489
762,228
2,801,079
3,563,307
(23,882)
3,539,425
3,572,914
3,572,914		 Restricted
funds
£
-
-
-
-
299,481
299,481
-
299,481
299,481
299,481		 2021
Total funds
£
23,416
10,073
33,489
762,228
3.100.560
3.862,788
(23,882)
3,838,906
3,872,395
3,872,395
3,572,914
299,481
3,872,395		 2020
Total funds
£
30,298
10,073
40,371
362,075
2,347,506
2,709,581
(22,774)
2,686,807
2,727,178
2,727,178
2,408,800
318,378
2,727,178

The financial statements were approved by the Board of Trustees and authorised for issue on

23/07/2022

and were signed on its behalf by:

Nigel John Godfrey Mapp Chair of Trustees

Thomas Shippey Treasurer

Company Number 4670794

18

Resurgo Trust

Consolidated Cash Flow Statement

for the year ended 31 December 2021

Notes
Cash fows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash fows from investing activities
Purchase of tangible fxed assets
Sale of tangible fxed assets
Net cash provided in/(used in) investing activities
Change in cash and cash equivalents
in the reporting period
2
Cash and cash equivalents
at the beginning of the reporting period
2
Cash and cash equivalents
at the end of the reporting period
2		 Notes
Cash fows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash fows from investing activities
Purchase of tangible fxed assets
Sale of tangible fxed assets
Net cash provided in/(used in) investing activities
Change in cash and cash equivalents
in the reporting period
2
Cash and cash equivalents
at the beginning of the reporting period
2
Cash and cash equivalents
at the end of the reporting period
2		 2021
£
1,175,445
1,175,445		 2021
£
1,175,445
1,175,445		 2021
£
1,175,445
1,175,445		 2020
£
770,390
770,390
(955)
10,511
9,556
799,946
1,775,920
2,555,866		 2020
£
770,390
770,390
(955)
10,511
9,556
799,946
1,775,920
2,555,866
(10,451)
1,516
(8,935)
1,166,510
2,555,866
3,722,376
2021
£
Net income for the reporting period (as per the
Statement of Financial Activities)
1,158,271
Adjustments for:
Depreciation charges
14,503
Loss on disposal of fxed assets
1,314
Decrease/(increase) in debtors
(45,195)
Decrease/(increase) in creditors
(46,552)
Net cash provided by operations
1,175,445
1.
Reconciliation of net income to net
cash fow from operating activities
Notes to the Cash Flow Statementfor the year ended 31 December 2021		 2020
£
703,825
40,226
13,429
34,244
(21,334)
770,390
Net cash
Cash at bank
Total
2. Analysis of changes in net funds		 At 1/1/21
£
2,555,866		 Cash fow
£
1,166,510		 At 31/12/21
£
3,722,376
3,722,376
2,555,866 1,166,510

19

Resurgo Trust

Notes to the financial statements

(for the year ended 31 December 2021)

1. Accounting policies

The summary of principal accounting policies, all of which have been applied consistently throughout the year and the preceding year, is set out below:

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The basis of allocation of salaries between Resurgo and Resurgo Consulting Limited equates to 100% of the Resurgo Consulting team's cost of running the entity, as based on the time used to facilitate the income generated in each entity.

Group financial statements

The financial statements consolidate the results of the Charity and its wholly owned subsidiaries on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the Charity has not been presented because the Trust has taken advantage of the exemption afforded by section 408 of the Charities Act 2006.

Significant judgements and estimates

In applying the trustees' accounting policies, the trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The trustees' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the company's accounting policies

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment of assets, the trustees have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

(ii) Key sources of estimation uncertainty

Due to the straightforward nature of the activities of the charity, the trustees do not believe that there are any estimation uncertainty's that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Donation income recognition

Charitable income is recognised on a cash received basis other than where an accruals basis provides a more accurate basis or will give a fairer representation of the underlying nature of the transaction. Income is recognised so far as there is entitlement to the income, there is certainty of its receipt, and the amount is quantifiable.

20

Resurgo Trust

Notes to the Financial Statements (continued) for the year ended 31 December 2021

Expenditure recognition

Resources expended are included in the Statement of Consolidated Financial Activities on an accrual’s basis, inclusive of VAT which cannot be recovered.

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments which comprise cash at bank, trade and other receivables and trade and other payables.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash at bank and in hand

Cash at bank and in hand include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Other receivables

Other receivables are initially recognised at the transaction price, including any transaction costs. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Other payables

Other payables are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

Tangible fixed assets

Depreciation is charged on all tangible fixed assets over their estimated useful lives as follows:

Computer equipment - 33% per annum on a straight-line basis. Furniture and equipment - 25% per annum on a straight-line basis.

Taxation

As a charitable trust, the company is exempt from UK Corporation Tax under Section 505 (1) (c) ICTA 1988.

Fund structure

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds are donations made to Resurgo for specific projects or segments of work.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern

After making enquiries, the trustees believe that Resurgo has adequate resources to continue in operational existence for the foreseeable future. For this reason, the trustees have continued to adopt the going concern basis in preparing the financial statements.

21

Resurgo Trust

Notes to the Financial Statements (continued) for the year ended 31 December 2021

3. Grants, Donations and Gifts

Trusts and Foundations
Corporate partnerships (philanthropic)
Major donors and individuals
Statutory
Partnership income
Other
 2021
£
759,017
521,925
875,641
148,029
263,500
42,195
2,610,765		 2020
£
1,061,107
324,847
636,893
116,721
112,038
28,001
2,279,607

During the year Resurgo was awarded several multi-year grants which form part of our active pipeline.

Below is a summary of funding, secured for 2022, where the grant value is in excess of £15,000:

Trusts and Foundations
Corporate partnerships (philanthropic)
Major donors and individuals
Statutory		 2021
£
267,500
472,400
350,200
60,000
950,100		 No. of grants
7
11
8
1
26

4. Trading revenue

4. Trading revenue
Corporate Culture Coaching
Social Impact Coaching		 2021
£
408,294
8,310
416,604		 2020
£
138,510
-
138,510
5. Charitable activities
Central activities and support costs
Spear direct costs
Re-Work direct costs
Total		 Unrestricted
funds
£
419,706
187,386
73,500
680,592		 Restricted
funds
£
-
769,785
-		 Total funds
£
419,706
957,171
73,500
1,450,377
769,785

Direct charitable activities exclude the direct salaries and operational expenditure of our Spear Partner Trusts and Re-Work Church Partners, however it does include the costs to manage, train and recruit their staff.

22

Resurgo Trust

Notes to the Financial Statements (continued) for the year ended 31 December 2021

6. Trading activities

6. Trading activities
Consulting direct stafng & operational costs
Administrative and Governance costs
 2021
£
379,649
29,671
409,320		 2020
£
109,399
41,972
151,371
Staf costs
Annual event and other operating costs
7.
Raising funds		 2021
£
232,911
30,472
263,383		 2020
£
267,578
28,775
396,353

8. Net income/(expenditure)

Net income/(expenditure) is stated after charing/(crediting): 2021 2020
£ £
Depreciation - owned assets 14,503 40,226
Defcit on disposal of fxed assets 1,315 13,429
Auditors renumeration 4,500 3,900
Other account services 5,420 1,600

9. Trustees’ renumeration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

23

Resurgo Trust

Notes to the Financial Statements (continued) for the year ended 31 December 2021

10. Staff costs

Wages and salaries
Social security costs
Other pension costs
 2021
£
1,514,877
153,114
44,945
1,737,527		 2020
£
1,494,336
128,338
37,377
1,660,051

The breakdown of number of employees at year end was as follows:

Full time staf
Part time staf		 2021
£
38
13
51		 2020
£
37
9
46

At 31 December 2021 there were 40 full time equivalent (FTE) staff (2020: 41).

During the year, up to 22 (2019: 21) FTE staff were paid for by the partner trusts, but line managed by Resurgo staff. This means Resurgo has line management responsibility for approximately 62 FTE staff.

During the year there were an average of 31 members of staff who worked directly as coaches across the 12 centres controlled by Resurgo. The remaining 31 members of staff worked in supporting the charity in undertaking its objectives, including staff on front line delivery of our Spear and Re-Work programmes.

The cost of key management personnel was £348,848 combined, including NI & pension contributions.

Tom Jackson is currently on a fixed term secondment to the Church Revitalization Trust to head up the vision of the Love Your Neighbour initiative. We receive reimbursement for both his staffing costs, along with that of his Executive Assistant who is also on staff with Resurgo.

No. of employees who earned more than £60,000 p.a.

£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000		 2021
2
-
1
1		 2020
1
-
2
-
4 3

Pension contributions made on behald of the above listed employees

£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000		 2021
3,715
-
2,588
2,741		 2020
1,829
-
5,168
-
9,044 6,997

24

Resurgo Trust

Notes to the Financial Statements (continued) for the year ended 31 December 2021

11. Tangible fixed assets

Cost
At 1 January 2021
Additions
Disposals
At 31 December 2021
Depreciation
At 1 January 2021
Charge for year
Eliminated on disposal
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Fixtures &
fttings
£
34,197
-
(19,791)
14,406
25,705
2,165
(18,473)
9,397
5,009
8,492		 Computer
equipment
£
331,694
10,451
(139,158)
202,987
309,888
12,338
(137,646)
184,580
18,407
21,807		 Totals
£
365,891
10,451
(158,949)
217,393
335,593
14,503
(156,119)
193,977
23,416
30,298

12. Fixed asset investments

Fixed asset investments
Market value
At 1 January 2020 and 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020
 Shares in group
undertakings
£
101
101
101		 Unlisted
investments
£
9,972
9,972
9,972		 Totals
£
10,073
10,073
10,073

There were no investment assets outside the UK. The shares in group undertakings are eliminated on consolidation.

The company’s investments at the balance sheet date in the share capital of companies include the following:

Resurgo Consulting Limited Registered office: United Kingdom Nature of business: Consultancy

% Class of share: holding Ordinary shared 100

25

Resurgo Trust

Notes to the Financial Statements (continued) for the year ended 31 December 2021

Trade debtors
Other debstors & prepayments
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
13. Debtors: amounts falling due within one year
Group		 2021
£
11,981
179,187
191,168
2021
£
11,319
571,722
143,886
35,301
762,228		 2020
£
90,940
55,033
145,973
2020
£
60,311
246,883
54,881
-
362,075

14. Creditors: amounts falling due within one year Group


Group
Trade creditors
Other creditors and accruals
Trade creditors
Other creditors		 2021
£
11,258
63,121
74,379
2021
£
8,948
14,934
23,882		 2020
£
8,468
19,359
27,827
2020
£
8,468
14,306
22,774
15. Movement in funds
Notes
Unrestricted funds
18
Restricted funds
18
Restricted funds
Total funds		 At 1/1/21
£
2,395,904
318,378		 Net
Movement
£
2,395,904
(18,897)		 At
31/12/21
£
3,573,072
299,481
3,872,553
2,714,282 1,158,271

26

Resurgo Trust

Notes to the Financial Statements (continued) for the year ended 31 December 2021

15. Movement in funds - continued

Net movement in funds, included in the above are as follows:

Notes
Unrestricted funds
18
Restricted funds
18
Restricted funds
Total funds		 Incoming
resources
£
2,530,463
750,888		 Resources
expended
£
(1,353,295)
(769,785)		 Movement
in funds
£
1,177,168
(18,897)
3,281,351 (2,123,080) 1,158,721

Purpose of restricted funds

Restricted funds in 2021 were largely raised to cover the support and operational costs of running our partner Spear centres along with the direct salaries and operational costs for our central Spear centres namely, Hammersmith & Fulham, North Kensington and Kennington. Our reserves position at year end is evidence of our stringent financial response to the pandemic, alongside the continued generosity and support from our donor base and the growth of our commercial coaching subsidiary. While this places us in a strong cash position at the 2021 year-end, we are mindful that in order to continue to build sustainable growth and organisational resilience, our costs are likely to increase significantly in the next few years and as a result we are anticipating the need to draw on these reserves as we invest in the future.

16. Related party disclosures

There were no related party transactions for the year ended 31 December 2021.

17. Lease obligations

As at 31 December 2021, the Charity was not committed to any non-cancellable lease agreements.

18. Unrestricted funds

Unrestricted funds equate to approximately 13 months of full operating expenditure. These funds, whilst unrestricted, include £1,575,071 of general funds which equate to approximately 6 months of operating expenditure, aligning with our current reserves policy. The balance of £1,998,454 has been ring-fenced for the purpose, delivery, support and operational costs associated with Spear and our strategic goal to expand into areas where the cost implications are a barrier to growth in partnership.

Restricted funds

The balance of £299,481 represents the unspent portion of 9 grants made to the charity to cover running and support costs. There are only 2 funds with remaining balances carried over from 2020, all other carried forward funds have been cleared within 2021.

19. Legal status

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1.

27

Resurgo Trust 3rd Floor, Colet Court 100 Hammersmith Road London W6 7JP

020 3327 2070 resurgo.org.uk