Company registration number: 5821436 Charity registration number: 1120414 The Resurgence Trust (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 WESTCOTTS CHAR TERÉD ACCOUNTANTS & BUSINESS ADVISERS
The Resurgence Trust Contents Referen and Administrative Details Trustees, Report 2to15 Independent Examinerfs Report 16 Statement of Financial Activities 17 Balance Sheet 18to19 Statement of Cash Flows 20 Notes to the Financial Statements 21to35
The Resurgence Trust Reference and Administrative Details Trustees Herbert Girardet Christabel Reed Ruby Reed Sandy Brown James Sainsbury Stephanus Brenninkmeijer Richard Baker Josephine Amankwah Satish Kumar Secretary Charity Registratlon Number 1120414 Company Registration Number 5821436 The charity is incorporated in England and Wales. The Resurgence Centre Fore Street Hartland Devon EX39 6AB Westcotts (SW) LLP 47 Boutport street Barnstaple Devon EX31 1SQ Registered Office Independent Examiner Page 1
The Resurgence Trust Trustees. Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. James Salnsbury. Chair of the Resurgence Trust . .the message of Resurgence is moTr cmcial than ever. We humans are not separate from Natur8. We are Nature. There is no distinction. We aro all made of the four elements of earth, air. fire and W8ler. And all of Nature is alive, conscious and intelligent. We are all connected together. The community of Resurgence is Undeinned by the interconnectedness and latIOnShips, which are the essence of life.. Alm obipctlves and ovemance of The R su Trust Alm The aim of The Resurgence Trust is to foster a greater connection to Nature in order to enhance personal wellbeing, support resilient communities and inform social change towards regenerative societies that enrich rather than deplete our natural environment. Values Empathy and compassion,. regeneration and optimism,. integrity and justice. Vision A world in which individuals feel connection bebNeen mind and body, between self and community, and between society and Nature. Society will have at its heart love of Nature and respect for the Earth. We will appreciate fully that humans are part of Nature, and that being connected to Nature is part of being human. Need We are living in a time of crisis. The driver of this crisis is disconnection. There is a disconnection between natural systems and our economic systems at a global level. This is the primary Cause of climate breakdown, biodiversity loss and soil damage. There is a crisis in mental health, often related to a disconnection between mind and body, self and other. The solutions to these problems need to be specific, but also at a large scale and shared worldwide. At every level, solutions are rooted in rebuilding connections. The Resurgence Trust understands that social and environmental transformation is an ongoing process. It is a long journey of transformation that needs constant, step by step support. It is with this understanding that we undertake all our work. Objectives The Resurgence Trust is an educational charity focused on environmentalism, environmental justice, and social justice. The objectives of the Charity are to advance the education of the public in the conservation, protection, and improvement of the natural environment globally, and in art, culture, spirituality and human values, through messages of optimism, wisdom and empathy. Ecoliteracy is urgent and necessary rf we are going to build resilient and regenerative human communities. Universal: the Trust will educate the public in promoting a narrative about an abundant Nature in which connections create resilient and resurgent ecosystems. Nature.. the Trust seeks evidence from the natural sciences that supports the narrative that connection is fundamental to Nature. Page 2
The Resurgence Trust Trustees, Report Humanity.. the Trust will educate the public about the vital and urgent need for reconnection between human societies and Nature. Economics.. the Trust will educate the public about economics and our economies, including the limits to growth and the challenges of degrowth, to redress the failure of mainstream economics to make the connection between economic growth and environmental damage. Communities". the Trust will work to improve connections within and between communities, beginning with our local community in Hartland. Individuals: the Trust will be a knowledge centre for methods of finding personal connections as individuals, including providing space for activities like meditation and Craft. Methods The Resurgence Trust meets its objectives as an educational charity through three primary methods.. Educating the public through the distribution of printed publications. primarily Resurgence & Ecologist magazine. Providing educational materials and information online, including at ww theecologist.org and lW.resUrgence.0rg Educating and engaging the public directly through provision of and attendan at live events, including courses, talks seminars and workshops, online and face to face Inspiring and educating audiences around the world, our Global Ambassador Programme support5 Satish Kumar, to speak on central issues of our time. Metrics We have identified measures that can give a robust and fair indication that we are meeting our aim and objectives. We measure outputs, which are activities that we undertake because we agree that these will further our aim and objectives. We set targets for an increase in membership. attendance at events. and engagement with and participation in the projects of the Trust. Structure overnance and management of the Trust The Charity is a company limited by guarantee and registered as at charity on 2nd August 2007. The Charity established under a memorandum of association, which established the powers and objects of the charitable company and is govemed under its articles of association. The Trustees meet regularly to review the progress of the Charity and to make strategy decisions regarding its future. The day-to-day operational activities of the Charity are delegated to staff. The composition, size and skills of the Board of Trustees are regularly reviewed, and new Trustees are sought where an opportunity to enhance the Board is identified. Vacancies for Trustees may be advertised in the press or via other suitable avenues, or individuals may be identified by the Board. A Trustee shall be appointed by a resolution of the Trustees. A Trustee shall hold office for a tem of five years from the date of appointment, at the end of which the Trustee shall retire but shall be eligible for reappointment. Focus groups, committees and sub committees consisting of Trustees, staff and external parties may be formed to undertake specific tasks. However, prior to implementation any actions recommended by these groups are to be agreed by the full Board of Trustees and in accordance with the organisation's governing documents. Page 3
The Resurgence Trust Trustees. Report Th Resu nceT st: eari vi Membership resurgents.org Our membership is open to anyone and currently The Resurgence Trust has around 6,000 members in 62 countries. Members receive six copies of Resurgence & Ecologist magazine each year as well as access to all the organisation's online and live events, including special memberfs events. Members of The Resurgence Trust have free digital access to our timeless archive, which includes every issue of the magazine from the past 57 years. This extensive collection provides a contemporary and a retrospective analysis of the most pressing issues of our time and offers solutions that have the power to create change. Membership supports all the charity's programmes and educational work. Resuryence & Ecologist magazine Resurgence & Ecologist magazine has been in publication for almost 58 years and has been described by The Guardian newspaper as the "artistic and spiritual flagship of the Green Movement." It reaches an engaged readership in at least 62 countries with solution-based articles on the world's environmental crisis,. offering words of hope, a sense of community and a voice for change that is driven not by fear. but by a love of the Earth and its many life forms. Under dynamic editorship and close teamwork. the beautifully illustrated magazine recognises the interconnectedness of the crises we face. It seeks to inform and inspire a just and thriving future for all, connecting readers with a diversity of visionaries, exploring nature and ecology, food and farming, 5Piritually and philosophy, social and environmental justice as well as ethical living. wellbeing, and the arts. In 2023-2024 there have been 6 issues of the magazine covering themes including 'Call of the Wild,, 'Finding Kinship,, 'Nature Positive Impact,. 'Navigating Climate Anxiety,, 'Hope & Enchantment,. Authors come from all walks of life and bring different energies. perspectives and stories to the magazine. This year amongst many, they have included Chandran Nair. founder of the Global Institute For Tomorrow,. Turner prize winning artist Jeremy Deller.. B corps ambassador Marcello Palazzi., Merlin Hanbury-Tenison, founder of the Thousand Year Trust,. Andrew Harvey, sacred activist and global thought leader. Paul Evans, nature writer and broadcaster", GP Gemma Newman. founding member of Plant -Based Health Professionals UK,. Annabel Heseltine, our founder Satish Kumar, Ecologist editor Brendan Montague and sub editor Yasmin Dahnoun. "Volumes of commendable, scientifiG papers are being published on ecology and sustainable development. However, ResurgBn&Eco1oglst stands out. Its articles in simple language, poetlGS and visuals talk to the readers. One can feel the organic flavour and hear the whisper of the leaves, chilg birds and waterfalls. Like love, it is an experience, an emotion above the mind. This makes reading an immersive joumey. This is pethaps because the editor and the authors have a green and compassionat9 heart. and the spin"t of a seer/yogi." A.K. Jain, New Delhi -'Letters to the Editorf Resurgence & Ecologist Issue 340 Page 4
The Resurgence Trust Trustees, Report The Ecologist online theecologist.org The Ecologist online replaced The Ecologist magazine, which had been published in print since 1970, and was relaunched as a website by The Resurgence Trust in 2006. The Ecologist website supports and enhances the educational remit of the charity by providing Up-toate, independent information on environmental issues. During 2023-24, The Ecologist online continued to publish high quality news and analysis content every week, raising awareness of 8 broad range of environmental and social justice concerns, and amplifying the voices of environmental campaigners and advocates. It continues to publish original articles and focu5 on solutions-led content, whilst ensuring a diverse range of voices are heard and represented. The Ecologist programme's strategy is focussed on challenging the current economic growth paradigm that is driving climate breakdown, conflict and biodiversity collapse and promoting alternative sustainable and regenerative economic theories and policy initiatives. This year website has published highly acclaimed journalism, informative articles from academics with expertise in economics, and original articles from around the world. Themes have included Activism, Biodiversity, Climate Breakdown, Economics and Policy, Energy, Food & Framing. Mining, Economics and Policy, Energy. Food & Framing, Mining. It has been viewed, this year, by almost a million people from more than 130 countries., Èt had 135,600 followers on X, and 34,000 subscribers to the Ecologist newsletter. July 2023 saw the conclusion of the online publication of the 'Megamorphosis' series by Professor Herbert Girardet. This year long series of new essays, including titles 'Amazonia Ablaze,, 'Leverage Points,, 'Biosphere and Technosphere, and ending with 'The future- what future?. engaged almost 17 thousand people. Working in collaboration with the Schumacher Institute and supported by other Bristol based organisations, the Resurgence Trust's Ecologist team organized an event, 'Small is The Future, in June 2023. Over 350 people participated, almost 175 in person and a similar number online. A lineup of 12 speakers on 4 panels included Dr Ann Pettifor, award winning activist Charlie Hertzog Young, and Gareth Dale. An evening event 'Cinema Climatic, screened two films examining some of the current conditions in the oil industry and the impacts of climate activism. The Ecologist Writers, Fund, Continued to raise money from readers to pay contributors who would not otheise be able to conduct research and write for free, especially from communities experiencing hardship and prejudice. The Ecologist online holds a crucial place within the environmental movement - providing accessible, accurate, independent, and high-quality journalism free of charge. In the coming years it will continue to advocate for economic policies that deliver a regenerative and sustainable connection between human societies and the natural world. Page 5
The Resurgence Trust Trustees, Report Events resurgenceevents.org The Resurgence Trust organises a large number of workshops and events all of which, in different ways, promote wellbeing, regeneration and the key values of The Resurgence Trust. Events provide the Charity an opportunity to reach wider and more diverse audiences People attending are leaming from them, being inspired, developing adion in their own lives and sharing with others,. honouring the interdependence of the earth, the self and all living beings. In 2023-24 the Resurgence Trust has held around 100 events with over 8000 attendances. The annual Resurgence Summer Camp, in July 2023, welcomed over 100 people to share ideas for a greener future, with talks, workshops, music, food, craft and poetry, bringing the ethos of Resurgence & Ecologist to lrfe. Our Members. Event held online in March 2024, with a meditation along with wisdom shared by Satish Kumar and acclaimed storyteller Martin Shaw was a chance for members to conned face to face and heart to heart. 287 members attended and the link to the recording was available to all members after the event. Our 2023 Festival of Wellbeing. hosted 10 international contributors and 245 participants, reaching a worldwide audience, attended by around 250 people. Speakers who took part in this thought-provoking and inspiring day including Pat Mccabe Dine {Navajo) activist, artist and ceremonial leader,. Jane Davidson - former Welsh minister for environment & education.. Asid Rehman Executive director for War on Want,. Kalpana Arias - gardener, eco-futurist and Nowadays on Earth founder. Speakers in the monthly Resurgence Talks all have, in different ways, brought messages of hope and encouragement to many attendees. atlracting over 450 people over the year. They have included inspirational speakers including Helena Norberg-Hodge, Kim Samuel and Farah Obaidullah. From November 2023. The Resurgence Trust started hosting monthly gentle, heartfelt Monthly Meditations for Members presented by Satish Kumar. These have been very successful, connecting with an average of 158 people worldwide each month. Earth Festivals and Moon Meditations have continued in popularity, providing a voyage of guided meetings, meditations and joumaling aligning participants with the seasons, phases of the moon and a regenerative cycle of rest and renewal, release and reffection. Events at the Resurgence Centre. providing educational opportunities and connecting people in the local community in Hartland, Devon, UK, have expanded as reported below. The Resurgence Centre The Resurgence Centre is an example of a sustainable and carbon neutral building with solar panels, rainwater harvesting and comprehensive insulation. It is now used regularly as a base for the Resurgence team and for local events. The centre is a good example of sustainable building and systems for visitors to learn from. The outside space has an organic wellbeing garden linked with an accessible path which takes visitors from the car park through a gallery area and into the balconied chapel. This provides easy access to our workshops & events, which have been growing in frequency and attendance both in person and online using our well-equipped premises. Page 6
The Resurgence Trust Trustees. Report This year we have increased the number and variety of a mixture of educational and therapeutic events for both adults and children at the centre. The popular life drawing sessions continued and there have been more family inclusive activities, including a wild food workshop and Children's music session. An exhibition was held by a local artist in the centre before Christmas. The Resurgence eco cottage welcomes visitors all year providing a simple retreat accommodating visiting speakers and generating income for the Trust in the most environmentally friendly way. Fundraising The Resurgence Trust raises funds to support the work of the charity from a variety of sources, including grants from trusts and foundations, and donations from individual supporters. The Trust also receives legacy income and runs a number of fundraising events throughout the year, including the Festival of Wellbeing which in October 2023 received generous sponsorship. Satish Kumarfs Global Ambassador programme Satish Kumar served as Editor of Resurgence magazine for over 40years. Since 2016 he has been the Editor Emeritus and Global Ambassador of Resurgence Trust. With his background in Gandhian philosophy, Satish brings the ideals of nonviolence and spirituality to the global environmental movement. Satish constantly articulates and illuminates the vision and values of The Resurgence Trust, which include global sustainability. spirituality and social hamiony. This year his vital outreach work continued with Satish giving talks and participating in seminars, nferences and workshops, giving interviews and making podcasts. He travels extensively. During the year 2023-24, Satish has been hosting monthly meditations for members and his ambassadorial programme continues worldwide. This year he has visited at least 10 countries. attending over 50 events. speaking to audiences totalling well over 7,000 people, including artists, creatives, farmers, academics, entrepreneurs, senior EU civil servants, B Corps business leaders and impact investors. Satish Kumar writes articles for each of the Resurgence & Ecologist magazine. His most recent book 'Radical Love,, was published in 2023. The Resurgence Trust supports and organises his travel itineraries and facilitates his engagements Financial Review All the figures below have been rounded to the nearest 1K or 10A. Our Management Team continues to navigate the challenges of the Current economic climate, ensuring the financial resilience of our core programmes. For the year ended 31 March 2024 total incoming resources increased by 7 % (£54K) though total resources expended also increased by 5 % {£37K). In 2023, while the number of UK donors decreased nationally, the overall amount donated to charities saw an increase of ne8rly 100A. We are truly humbled by the unwavering support of our donors, as The Resurgence Trust experienced a generous 10% increase in donations. This support reaffirms our commitment to our aims. Our Management Team remains dedicated to hamonising the allocation of funds across our programmes and is always seeking new partnerships and income streams to further amplify our impact. We are detemiined to continue making a substantial drfference to the world around us. Page 7
The Resurgence Trust Trustees. Report Income from donations and legacies saw a 100/0 increase (£34K) (note 3). We extend our heartfelt gratitude to Network of Wellbeing, Be The Earth Foundation, and the Tedworth Trust for their continued support of our charitable objectives. During the year, we were fortunate to collaborate with an independent fundraiser who shares our passion and commitment. Their invaluable contributions have been instrumental in securing these increased funds. We continue to be very grateful to receive £75K funding which is used to assist with the costs of printing and distribution of Resurgence & Ecologist magazine and a further £50K to fund our core programmes, including our promotion and outreach work. Total income from charitable activities (note 4) increased by 1 /0 {£SK) during the year. This growth is primarily attributed to the successful sales of books and our increased presence at festivals that align with our values. While we experienced a modest 3Q/o decrease in membership income, we remain committed to fostering a vibrant community of supporters. Income from other trading activities saw a significant 190/0 increase {£8K) this year. This growth is directly altributable to the popularity of our Elegantly Simple holiday accommodation and the growing success of our online events {note 5). Expenditure on charitable activities (note 9) increased by 50/0, primarily due to increased staffing Costs. Our support costs were broadly in line with last year with a small variance of 30A. Whist efficiency savings are always preferred across all cost centres, some costs are outside our control. While we continually strive for efficiency in all areas, certain costs, such as premises expenses. are beyond our control. For instance. the national energy crisis led to a significant 540/. (£6K) increase in these costs. As a result of these factors, net incorning resources for the year were £38K, an increase of 75°/0. At the year end. total funds carried forward had increased by 4°/0 (£38K). However, it's important to note that 810/0 of these funds are tied up in land and buildings (note 18). Despite the ongoing economic challenges, we are pleased with the Trust's overall financial performance for the year. However, we remain vigilant and recognise the potential for future uncertainties. The Trust remains steadfast in its mission, carefully deploying limited resources to maximise impact. We continue to actively explore potentially new revenue streams and expanding our reach to ensure our Vol is heard on a global scale. The unwavering commitment and enthusiasm of our staff and Trustees are our gatest asset. Their skills. knowledge, and dedication empower The Resurgence Trust to make a lasting difference. While our established base in North Devon provides a solid foundation, we recognise the perception challenges associated with our high level of illiquidity. We continue to actively engage wtth potential funders and donors who share our long-term vision for a better world. Policles The Resurgence Trust operates a wide range of policies that exist to facilitate the effective running of the organisation. A summary of our main policies and their purpose is set out below. Reserves policy The Resurgence Trust operates a risk-based reseNes and investment policy developed to mitigate, as far as possible. identifi'ed risks relating to reserves and investment in the following four areas.. Page 8
The Resurgence Trust Trustees. Report Short-temi cash management - planning investments to ensure that sufficient liquid funds are available to meet obligations when they become due. Medium-temi cash management 'resilience'. Unrestricted reserves will be maintained at a level considered adequate to ensure the operation of the Charity in the face of unexpected adverse events or beneficial opportunities. The organisation looks to hold unrestricted reserves in the band of 3 to 9 months of expenditure, ideally aiming towards the middle of the range. Deferred income - ensuring that income is not recognized before any obligations associated with the income are discharged. Investment - ensuring that investments are appropriate in terms of risk, returns and ethical principles Restricted reserves are determined by projects. Funding for those projects, alongside the timing of the expenditure, are outside the control of the Trustees. Public Benefit Trustees are aware of the Charity Commission guidance on Charity and Public Benefit and confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to it. They consider the full information contained in this annual report about the Trust's aims. activities and achievements, demonstrates the benefit to the Public, that arise from those activities. Investment policy To mitigate the risks of inadvertently supporting organisations whose operations or principles conflict with The Resurgence Trust's ethos, and to minimize financial losses from inappropriate investments, the Trust currently limits its investments to fixed-temi deposits in interest-bearing accounts with Triodos Bank. While the Trust seeks to maximise returns on its investments, ethical Gonsiderations will aayS take precedence. Professional advice will be sought to inform investment decisions. Risk management policy To safeguard the wellbeing of our charity and its stakeholders, we assess and manage the risks we face. While it's impossible to identfy every potential risk, our risk management policy focuses on identifying and addressing those that could have significant adverse consequences. This policy provides a framework for: Identifying risks= Recognising potential threats to our charity. Assessing risks.. Evaluating the likelihood and impact of identified risks. Developing response strategies.. Implementing appropriate measures to mitigate or eliminate risks. Monitoring and revlewing: Continuously monitoring risks and updating our response strategies. Asslgning responsibllltles: Clearly defining who is accountable for risk management. A dedicated subcommittee, reporting to the Board of Trustees, oversees this ongoing risk management process. Page 9
The Resurgence Trust Trustees. Report Identified principal risks and uncertainties-. Rlsk Potential impact Mitlgatin actlons Failure to comply with legislation and regulations Fines and penalties Appropriate staff training Reputational damage Obtaining external professional advice Retention of appropriate records and communications. including the minutes of meetings Annual independent examination of financial statements Inadequate cash flow Inability to meet obligations as they become due. leading to possible • suspension/loss of services (e.B- Utilities) breach of contracts inability to fulfil objectives • loss of Boodwill/reputation Production of budgets and cash flow forecasts to identify funding requirements Regular management reports presented to senior staff and at Tru5tees' meetings Adherence to reserves policy. including the establishment and maintenance of a 'resilience reseNe' Insufficient fundraising Inability to meet financial obligations Production of cash flow forecasts to identify funding requirements and ensure sufficient liquid funds Loss of key staff Regular management reports to enable early detection of problems to allow planning time Inability to meet objectives Maintaining good relationships with key funders Continual focus on decreasing reliance on donations by increasing revenues from sustainable charitable activities Page 10
The Resurgence Trust Trustees, Report Declining membership numbers and associated income from core charitable activities Inability to meet financial obligations, due to redUd income Reviewing charitable activities to ensure that they align with our objectives Reduced relevance of the organisation Employing an outreach and promotions officer Failure to achieve objectives Development of partnerships with other organisations Corruption/loss of data, including our membership database Extreme disruption; very difficult to recreate from other sources Onsite and offsite backups Support contracts in place with software providers Impossibility of communicating with members High loss of goodwill from members Monthly review of risk register and update of controls and risk scores as required Changing and emerging risks New risks emerge or the profile of existing risks alters. leading to insufficient management controls Regular review of the latest Government Guidance Staff to report new risks as identified Page 11
The Resurgence Trust Trustees. Report Remuneration policy Remuneration of staff members is based on an adopted set of objectives and principles, a summary of which is set out below. Attracting and retaining - remuneration should be set at a level suitable to attract and retain staff of suitable skill levels and experience relative to the position held. Equity - remuneration levels should be seen as fair. Discrimination the organisation will adhere to all statutory requirements as set out in employment law and the Equality Act 2010. Ethics and acceptability to stakeholders - low remuneration may be seen as exploitative and therefore unethical, but high remuneration may be seen as excessive and an inappropriate use of Charity funds. Financial sustainability the ability of the organisation to meet future obligations must be considered when setting levels of remuneration. Disclosure and tran5paren¢y requirements. all disclosures will be made in accordance with statutory For recruitment of senior posttions, the remuneration package and job description will be approved by the Trustees prior to commencing crUitment. Members of the Board of Trustees may fomi part of the interview panel. For recruitment of junior or temporary positions, the authority for establishing the job description and setting remuneration levels will be delegated to senior management, following the objectives and principles above. No person may set their own remuneration. Employees may discuss and negotiate remuneration. but the final decision must atways rest with the Trustees, or with senior management where authority has been delegated. Senior management is authorised to make inflation-related amendments to employees, remuneration levels and changes to employees, working patterns. Other changes must be authorised by the Trustees. Any changes to remuneration packages must be consistent with the objectives and principles set out above. Conclusion The Resurgence Trust is an educational charity and global community that connects, informs, and inspires positive change by honouring the interdependence of the Earth, the self and all living beings. With members in 62 countries, the Resurgence Trust has continued its vital role as a voice of many change-making organisations and ecological communities, sustaining tts service to the Green movement for well over 50 years. The Resurgence Trust has successfully delivered its charity aims and objectives through its 4 main programmes.. Resurgence & Ecologist magazine. The Ecologist, Resurgence's programme of events delivered in person and online and Satish Kumar's Global Ambassador programme. Across these programmes The Resurgence Trust has provided environmental education to a growing and engaged global audience, presenting infomiation and analysis on global issues and ideas for change, as well as hope and inspiration to the Resurgence community and beyond. Page 12
The Resurgence Trust Trustees. Report This year the charity has enhanced its programme of environmental activity, whilst maintaining a solid financial base. The Trustees are satisfied that The Resurgence Trust has fulfilled the objectives of the Charity over this period Page 13
The Resurgence Trust Trustees. Report Looking foN4ard The Resurgence Trust aims to continue fostering a greater connection to nature in order to enhance personal wellbeing, support resilient communities and inform social change towards regenefative societies that enrich rather than deplete our natural environment. With all our work. we know that marketing is key, and we will continue our drive to engage more people with our work in a variety of different and innovative ways. Our engagement and collaboration with others are essential in this area and with our new Marketing Manager we are developing some new ways to take this forward. In particular we are developing our social media policy and focusing on new ways of showcasing our content on social media platforms in better ways than we have done before and creating new content from the core of the mag&ine, including videos from authors and contributors. Our editing and marketing team have worked together to present a new 'ln Conversation, feature where our editor interviews some of the magazine's contributors. This will continue and is available and sent out online. Constantly reviewing our events programmes, including content. price and frequency is important. In January 2024 we made the decision to make the Resurgence Talks free for everyone to attend. This has been a successful strategy, and the number of attendees has risen dramatically, as well as the donations. Many more people are now engaged and leaming from what we offer, and we hope to see this continuing to grow. Locally, with more use of our Resurgence Centre, we have tried out different and new workshops, exhibitions and events and are reviewing different type5 of music, dance. creative and art events which bring new experiences for local people, meet our charitable aims and are a good use of the space. As we move towards the 60th anniversary of Resurgence in 2026, we plan to develop the website to showcases the expansive work of The Resurgen Trust as a whole. To ensure we make the best use of the charity's resources we have carried out an initial consultation with staff and key personnel. As part of the developments, we will introduce more video Content onto the site and prominently feature the inspirational wisdom of Satish Kumar who founded The Resurgence Trust. Ambassadorial support to Satish Kumar in his ambassadorial programme has become essential to him continuing this vital leadership role and it will be essential to keep this role going to ensure Satish's wisdom and learning can continue to be shared, as widely as possible, into the future. Thanks We would like to take this opportunity to thank all of our members for their ongoing support, our Trustees for their guidance and dedication, and all the individuals and organisations whose kind and generous donations have enabled The Resurgence Trust to continue its important work. We value the support and goodwill of our members, supporters and Trustees equally. even though it is not possible for us to thank every single one of you by name within this space. Small company provislons This report has been prepared in accordance with the provisions applicable to companies entitled to the small company's exemption. Page 14
The Resurgence Trust Trustees. Report Statement of trustees. responsibilltles The trustees (who are also the directors of The Resurgence Trust for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small Companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 its income and expenditure, of the charitable mpany for that period. In preparing these financial statements, the trustees are required to-. select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP. makejudgements and estimates that are reasonable and prudent., state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the fi'nancial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and 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. The trustees are responsible for the maintenance and integrity of the corporate and financial infomiation included on the charitable companws website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Small companies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of t behalf by.. charty on Slii Iufr and signed on its James Sainsbury Trustee stephanus Brenninkmeijer Trustee Page 15
The Resurgence Trust Independent Examiner's Report to the trustees of The Resurgence Trust {'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with th& requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charrties Act 2011 ('the 2011 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I nfi'rM that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of The Resurgence Trust as required by section 386 of the 2006 Act.. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and porting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. Catherine Williams FCA DChA Independent Examiner Westcotts (SW) LLP 47 Boutport street Barnstaple Devon EX31 1SQ Date...). Page 16
The Resurgence Trust statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income other income 376,750 330.016 50,847 6.293 30,208 1,647 378,397 330,016 50,847 6,325 30,208 344,749 325,419 42,598 2,095 27,325 32 Total income 794,114 1,679 795.793 742,186 Expenditure on: Raising funds Charitable activities other expenditure Total expenditure Net incomel(expenditure) Net movement in funds (11,284) (735,120) 4,363) (11,284) (741,840) 4,363) (10,072) (709,450) {822 (6,720) 10 750,767 (6,720 (757,487) 38,306 720,344) 43.347 5,041 21,842 43,347 (5.041) 38,306 21,842 Reconciliation of funds Total funds brought fOard Total funds carried forward 24 1,019,133 7,897 1,027,030 1,065,336 1,005,188 1,027.030 1.062,480 2,856 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2023 is shown in note 24. The notes on pages 21 to 35 form an integral part of these financial statements. Page 17
The Resurgence Trust (Registration number. 5821436) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Intangible assets Tangible assets 17 18 920 989,589 990,509 1,104 1,001,602 1,002,706 Current assets Stocks Debtors Cash at bank and in hand 19 20 21 13,284 70,286 323,395 11,187 69.045 275,915 406,965 356,147 Creditors: Amounts falling due within one year Net current assets 22 332,138 331,823 74,827 24,324 Net assets 1,065,336 1,027.030 Funds of the charity: Restricted income funds Restricted funds 2,856 7,897 Unrestricted income funds Unrestricted funds 1,062,480 1.019,133 Total funds 24 1.065,336 1,027,030 For the financial year ending 31 March 2024 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 charity to obtain an audit of rts accounts for the year in question in accordance with section 476., and The directors acknowledge their responsibilities for complying wtth the requirements of the Act with respect to a¢untIng records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to ompanies subject to the small companies regime within Part 15 of the Companies Act 2006. The notes on pages 21 to 35 fomi an integral part of these financial statements. Page 18
The Resurgence Trust (Registration number: 5821436) Balance Sheet as at 31 March 2024 The financial statements on pages 17 to 35 were approved by the trustees, and authorised for issue on ?li%l.Zk¥and signed on their behalf by.. James Sainsbury Trustee Stephanus Brenninkmeijer Trustee The notes on pages 21 to 35 fomi an integral part of these fi'nancial statements. Page 19
The Resurgence Trust Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating actlvities Net cash income 38,306 21,842 Adjustments to cash flows from non-cash Items Depreciation Amortisation Investment income Loss on disposal of tangible fixed assets 8,10 8,10 27,150 184 {6,325) 4,363 33,323 (2,095) 822 63,678 54.076 Working capital adjustments Increase in stocks Increase in debtors Increasel{decrease) in creditors Decrease in deferd income 19 20 22 {2,097) (1,241} 10,409 (10,094 (6,384) (2,880) (13,661) 23,745) Net cash flows from operating activities Cash flows from investFng activities Interest receivable and similar income Purchase of tangible fixed assets Net cash flows from investing activities Net increasel{decrease) in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March 60,655 7,406 6,325 19,500) 2.095 (23,255 18 13,175 21,160) 47,480 {13,754) 289,669 275.915 323,395 275,915 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 21 to 35 form an integral part of these financial statements. Page 20
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: The Resurgence Centre Fore Street Hartland Devon EX39 6AB 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with 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)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation The Resurgence Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenNise stated in the relevant accounting policy notes. The financial statements are prepared in sterling which is the functional currency of the charity. Going concern The trustee5 consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the Carrying value of assets held by the charity. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect th8 amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Page 21
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income CeIVable can be measured reliably. Donations and legacies Donations are recognised when the charty has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions thal require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly wrlhin the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the grant of probate when the administratorlexecutor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the fomi of an asset other than cash or a financial asset traded on a recognised stock exchange. recognrtion is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the tltle to the asset having been transferred to the charity. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, wFth central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attracting voluntary income. the management of investments and those incurred in trading activities that raise funds. Charitable activities Charrtable expenditure comprises those costs incurred by the charity in the delivery of its adivities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Page 22
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Intangible assets Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impaimient. They are amortised on a straight line basis over their estimated useful lives. Tangible fixed assets Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impainrent 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 impairment losses. The land and buildings are revalued every 5 years. Amortisation Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows- Amortisation method and rate 100/0 Straight line Asset class Trademarks Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economi¢ life as follows.. Depreciation method and rate 10/0 Straight line 100/0 reducing balance 10 % reducing balance 15% reducing balance 33.33 /0 Straight line Asset class Land and buildings Plant and machinery Fixture and fittings Office equipment Website Stock 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. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds eamiarked by the twstees for particular future projects or commitments. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Page 23
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Penslons and other post retlrement obligations Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments a classified according to the substance of the contractual arrangements entered into. An equty instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangernent constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liabilty is measured at the present value of the futu payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabiltties are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charty, despite having retained some, but not all. significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 24
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from donations and legacles Unrestricted funds Restricted funds Total 2024 Donations and grants Legacies Gift aid reclaimed 374,289 592 1,869 1,403 375,692 592 2,113 378,397 244 376,750 1,647 Unrestricted funds Restricted funds Total 2023 Donations and grants Gift aid reclaimed 337,893 4,915 1,894 247 339,587 5,162 344.749 342,808 1,941 4 Income from charitable activities Unrestricted funds Total 2024 Gift Aid tax ClaImed Book, magazine and other sales Advertising Event income Membership subscriptions income 20,682 65,616 31,124 19,084 193,510 20,682 65.616 31.124 19,084 193,510 330.016 330,016 Unrestricted funds Total 2023 Gift Aid tax reclaimed Book, magazine and other sales Advertising Event income Membership subscriptions income 15,506 58,571 38,846 11,529 200,967 325,419 15,506 58,571 38,846 11,529 200,967 325,419 Page 25
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 S Income from other trading activities Unrestricted funds Total 2024 Fundraising event income Rental income - Small School Cottage 38,020 12,827 50,847 38,020 12,827 50,847 Unrestricted funds Total 2023 Fundraising event income Rental income - Small School Cottage 33,344 9.254 33,344 9,254 42,598 42.598 6 Investment income Unrestricted funds Restricted funds Total 2024 Bank interest receivable 6,293 32 6,325 Unrestricted funds Restricted funds Total 2023 Bank interest receivable 2.075 20 2,095 7 Other income Unrestricted funds Total 2024 other income 30.208 30,208 Unrestricted funds Total 2023 Other income 27,325 27.325 Page 26
The Resurgence Trust Notes to the Financial Ststements for the Year Ended 31 March 2024 8 Expenditure on raising funds a} Costs of generating donatlons and legacies Unrestrlcted funds Total 2024 Event costs 7,944 7,944 Unrestricted funds General Restricted funds Total 2023 Event costs 8,651 27 8,678 9 Expenditure on charitable activities Unrestricted funds Restricted funds Total 2024 Note Magazine and website costs Event costs Staff costs Allocated support costs 197,768 23,013 341,769 172,570 214 2,856 1,447 2,203 197,982 25,869 343,216 174,773 741.840 735,120 6,720 Unrestricted funds Restricted funds Total 2023 Note Magazine and website costs staff costs Event costs Allocated support costs 195,871 324,845 15,776 168,313 1,747 197,618 324,845 16,819 170,168 1,043 1.855 704,805 4,645 709,450 Page 27
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 10 Other expendlture Unrestricted funds General Total 2024 Loss on disposal of tangible fixed 4,363 4,363 Unrestricted funds General Total 2023 Loss on disposal of tangible fixed 822 822 Page 28
The Resurgence Trust Notes to the Financial Ststements for the Year Ended 31 March 2024 11 Analysis of governance and support costs Support costs allocated to charitable actlvities Total 2024 Total 2023 Bank charges Sundry Trade subscriptions Repairs and renewals Exchange gainsl(losses) Training Recruitment expenses Travelling Rates Premises expenses Insurance Equipment hire Telephone and fax Printing, postage and stationery Travel and subsistence other services Legal and professional fees Independent Examiner's remuneration Depreciation 5,956 2,112 12,536 24,693 115 178 919 5,589 929 16,082 4,444 1,228 5,839 2,935 1,569 55,080 4,895 2,340 27,334 5.269 1,641 10,250 36,005 1242) 36 541 1,894 881 10,944 3,694 1,421 5,312 3,783 632 48,884 3,387 2,329 33,507 170,168 174,773 12 Net incomlngloutgoing resources Net incoming resources for the year include.. 2024 2023 Depreciation of intangible fixed assets Depreciation of tangible fixed assets (Profit)Iloss on sale of tangible fixed assets held for charity's own use 184 27,150 184 33,323 4,363 822 13 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses from the charity during the year. Page 29
The Resurgence Trust Notes to the Flnancial Statements for the Year Ended 31 March 2024 14 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 312,748 24,077 6,391 343,216 298,381 20,099 6,365 324,845 The average head count of employees during the year was 18 {2023.' 16). The average number of full-time equivalent employees during the year is analysed as follows-. 2024 No 2023 No Editorial Membership Administration Fundraising & events PR & marketing 12 No employee received emoluments of more than £60,000 during the year. 15 Independent examiner's remuneration 2024 2023 Examination of the financial statements 2,340 2,329 16 Taxation The charity Is a registered charity and is therefore exempt from taxation. Page 30
The Resurgence Trust Notes to the Financial Ststements for the Year Ended 31 March 2024 17 Intanglble flx8d assets Patents, trademarks and licences Total Cost At 1 April 2023 At 31 March 2024 1,840 1,840 1,840 1,840 Amortisation At 1 April 2023 Charge for the year At 31 March 2024 736 736 920 920 Net book value 920 At 31 March 2024 920 At 31 March 2023 1,104 1,104 18 Tangible fixed assets Fixtures and fittings Equipment Land and buildings Plant and Website machinery Total Cost At 1 April 2023 Additions Disposals At 31 March 2024 856,069 2,476 34.078 3.543 275 49,795 5,653 (2.179) 53,269 33,853 1,350 20,486 134,329 1,108,124 6.478 19,500 22,940 858,545 37,346 14,717 140,807 1,104,684 Depreciation At 1 April 2023 Charge for the year Eliminated on disposals At 31 March 2024 8,561 7,834 18,973 29,003 42,151 106,522 8,551 2,768 5,123 1,396 9,312 27,150 (232 1,416 (16,929 13,470 (18,577 51,463 115,095 17,112 10,370 22,680 Net book value At 31 March 2024 841,433 26,976 30,589 1,247 89,344 989,589 At 31 March 2023 847,508 26.244 30,822 4,850 92,178 1,001,602 Page 31
The Resurgence Trust Notes to the Financial Ststements for the Year Ended 31 March 2024 Tangible fixed assets held at valuation A formal valuation of freehold land and buildings was carried out by Stuart E M Smith, FRICS from Underwood Wright Chartered SuNeyors as at 31 March 2022. 19 Stock 2024 2023 Raw materials and consumables 13,284 11,187 20 Debtors 2024 2023 Trade debtors Prepayments Accrued income other debtors 9,534 16,629 30,373 13,750 70,286 15,308 12,191 30,744 10,802 69,045 21 Cash and cash equivalents 2024 2023 Cash at bank 323,395 275,915 22 cdItorS. amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals Deferred income 13,939 216,674 14,027 87.498 4,075 220,178 9,978 97,592 331,823 332,138 23 Pension and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £6,391 (2023 £6,365). Page 32
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 24 Funds Balance at 1 April 2023 Balance at 31 March 2024 Incomlng Resources resources expended Transfers Unrestrlcted funds General Funds Land, property, plant and machinery 79,447 763,314 (732,904) (8,954) 100,903 939,686 17,863 (750,767 8,954 930,777 1,019,133 763,314 1,031,680 Restricted funds Marketin9 & Promotion Course Tutoring Youth Club Fund Ecologist's Writers, Fund 213 5,569 1,359 756 (214) (3,414) (689) (2,403) 6,720 23 2,178 676 1,649 7,897 1,679 2,856 Total funds 1,027,030 764,993 757,487) 1,034,536 Balance at 1 April 2022 Balance at 31 March 2023 Incoming Resources resources expended Transfers Unrestricted funds General Funds Land, property. plant and machinery 44.206 740,225 (697,005) {7,980) 79,446 950.374 18,667 715,672 7,980 939,687 994,580 740,225 1,019,133 Restricted funds Marketing & Promotion Course Tutoring Youth Club Fund Ecologist's Writers, Fund 621 6,628 1,469 1,890 10,608 (409) (1,072) (113) (3,078) 4,672 213 5.569 1,359 756 13 1,944 7,897 Total funds 1,005,188 742,186 720.344 1,027,030 Page 33
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Unres cted fun The land, property, plant and equipment fund represents the net book value of these assets as at 31st March 2024. Res ri ted fun Marketlng & Promotion The Charity is continually working on increasing its profile and has received monies specifically for the marketing and promotion of the Resurgence Trust. Course Tutoring The Charity has received funds towards course tutoring Youth Club Fund These funds had been received towards youth club funding. Ecologist's Writers, Fund These funds have been received towards payments to authors for future articles. 25 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Intangible fixed assets Tangible fixed assets Current assets Current liabilities 920 989,589 404,121 (332,138) 1,062,492 920 989.589 406,965 (332.138) 1,065,336 2.844 Total net assets 2,844 Unrestricted funds General Total funds at 31 March 2023 Restricted funds Intangible fixed assets Tangible fixed assets Current assets Current liabilities 1,104 1,001,602 348,250 331,823 1,104 1,001,602 356,147 331,823 7,897 Total net assets 1,019,133 7,897 1,027,030 Page 34
The Resurgence Trust Notes to the Financial Statements for the Year Ended 31 March 2024 26 Relat8d party transactlons During the year, The Resurgence Trust received donations totalling £80,000 (2023: £55,000) from the Tedworth Charitable Funds which has a Trustee in common with the Resurgence Trust. During the year The Resurgence Trust received a £1,000 donation (2023: £2,000) from the Network of Wellbeing charity. Satish Kumar, the secretary of the Resurgence Trust is a Trustee in the charity. During the year Trustees donated £10,000 to The Resurgence Trust. Page 35