2023-03-31-accounts

l Transition Network. org TRANSITION NETWORK Reglstered Charity Number 1128675 Company Number 06135675 Trustees, Report and Financial Statements for the year ended 31 March 2023 Image: Transition Facilitation Training 2023 Logo Transition Network 1

Transition Network Contents Charity Information . Tru5tees' Report...... ..........................................................................................................,,............. l. Executive Summary............................................................................................... 2. Our Objects............. 3. Activities, achievements and performance..... 3.1 Progressing current objectives................................ 3.1.2 Activating a virtual collaboration platform Humhub platform- for the International Transition Movement................................. Vive- Transition Together England and Wale5 Project................... ........................ 3.1.3 Communications, Co-Learning & Conflict Resilience . 3.1.4 Movement Evaluation............. 3.1.5 Training...... 3.1.6 Influencing................ 3.2 Co-delivery acro55 our international support infiastructtjre.. 3.2.1 Hubs Group and Hubs Heart Circle.................. 3.2.2 Hubs Links. .10 .10 -10 .11 .11 3.2.3 Training for TransitTron Circle............................................................. 3.2.3 Inner Tran51tion Circle 3.2.4 Territories... .11 -12 3.2.5 Municipalities in TransltionlMIT) /Kunelab...... .13 3.3 Transition Together Growing Infrastructure, Networks and Capacity for Transition in Britain -13 3.4 Fundraising and Income Generation. 3.5 Plans for future period5. .15 l. Practising Tfansition- deepen the shared understanding, and widen the application, of practices which build resilience and 5UPPOrt positive change across the Transition movement-. .14 .15 2. Paihways to Transition - create more visible, accessible pathways which support our audiences to be inspired by and engage with Transltion stories, resDurce5. events, training and opportunltles for collaboration at different levels Df scale- -16 3. International capacity building- ensure the Transition movement support ecosystem, including the HHC, TN, Dlstributed Circles, Hubs Group and Hubs become increasingly effective, resilient and visible. 3.6 Grant-making Policy..... 4 Thank You to our Funders................................................................................. S Financial Review of the Year........ 6 Structure, Governance and Management.................... Statement of Trustees, Responsibilities...................................................... Auditor's Report to the Trustees of Transition Network... Statement of Financial Activities.. Balance Sheet............................................................. Statement of Cashflows...-..-................................... Note5 to the Financlal Statements.............................. .16 .17 .18 .19 .20 .22 .23 -26 .27 .28 ..29 Tran51tion Network 2

Charity Information (The information below form5 parl of the Trustees, Report) Trustees The Trustees of the charitable company are its directors for the purpose of the Companies Act 2006 and throughout thi5 report are collectively ferred to as the Tru5tee5. The Trustees who were in office during the year and up to the date of signing the financial statement5 were as follow5-. Peter Lefort Ico-chairl Green Futures Network Officer at the University of Exeter. Anna Kovasna (Co-chairl Research and Eijucation Director of Global Ecovillage Network. Darren Watmough ITreasurerl Finance Director of various housing associations and as a consultant to the social housing and local authority sectors. Rebecca Ayre (resigned 27 July 20231 Keyne Walker Policy Officer at the Royal Academy of Engineerin& working on climate policy and 5VStems approaches to reaching net iero. Kevin Austin Iresigned 24 Au6USt 20221 Hilary Jennings (resigned after two terms18 years) 15 Nov 20221 Kelly Tyler lappointed 27th July 20231 Dr Elizabeth Saunders lappointed 27th July 20231 Michael Boyle lappointed 27th July 20231 Lead Links of the Heart Circle Deborah Benham and Filipa Pimental Charity number 1128675 Company number 06135675 Registered address clo Darnells, 30 Fore Street, Totnes, Devon, TQ9 5RP Accountants Darnells, Chartered Accountants. 30 Fore Street, Totnes TQ9 5RP Bankers The Co-operative Bank, PO Box 250, Skelmer5dale WN8 6WT Transltion Network 3

Transition Network Trustees, Report Incorporating the Dire¢tors' Report for the year ended 31 March 2023. The Trustee5 present their annual report and financial statements for the year ended 31 March 2023. The financial statements comply with the Charities Act 2011, the Companles Act 2006, the Memorandum and Articles of Association, and the 'Accounting and Reporting by Charlties.. Statement of Recommended Practice IFR51021' applicable to charities preparing their financial statements in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20191. Transition Network ITNI is established as a company limited by guarantee and 15 registered a5 a charity. Transition is a movement of communitie5 coming together to challenge us all to reimagine and rebuild our world. Community-led Transition group5 are working for a low-carbon, socially Just future wlth resilient communities, more active participation in societyi and a caring culture focused on 5UPPOrtin8 each other. In practice, they are using participatory methods to imagine the changes we need, setting up renewable energy projects, re-localising food systems, and creating cornmunity and green spaces. They are nurturing the Inner Tran51tion of the cultural and mindset changes that support social and environmental change. They are 5parkinE entrepreneurship, working Wlth municipalities, building ommunlty connection and care. repairing and re-5killing. We have facilitated the creation of an International distributed infrastructure of roles and responsibilities, particularty with the Transition Hubs Group. Transition Hubs are independent organi5ations that support and connert Transition groups in their country or region. They connect internationally as the Hubs Group, a network Includir¢E Transition Network, with an agreed purpose and ways of working. The Hub5 Heart Circle is a group of intemationally-focused roles taking forward the work of the Hubs group to support the evolution of the global Transition movement. Much of Transition Network's work is now in collaboration with the Hubs Heart Circle, and you will see this describe(F in the report below. Some of the other areas of pro}ect work where Transition Network has distributed roles, resources and leadership internationally are collectNely seen as°distributed circles" and represented in the Hubs Heart Circle. During the year of this report, these are Kunelab (previously Municipalitie5 in Transition), the Inner Transition Circle the Training for Transition Circle. The Hubs Heari Circle also continued sub circles for Territories and the Collaboration Platform, during this year. Transition Network 4

l. Executive Summary April 2022 saw the start of a new three year grant from our main international funder, along with the launch of two core obJectlves. agreed across our distributed movement support infrastructu￿, for the same period. These are111 To achieve a step-change in connections and flow of communication acros5 nd beyond the mycelial network of the Transition movemene, to increase the Impact and visibility of it5 contribution to regeneration and121 To contribute to the development of wider cultural narratives and practices of change, to help people create the conditions in which transformative regeneratwe Change can arise and to build collective resilience and solidarity at multiple levels of scale. To help us focus our delivery activities for this finaricial year, we prioritised work related to fve areas. These were111 Developing a Collaboration Platform for the movement,121 CommLJnications,131 Movement Evaluation {41 Training and151 Supporting Conflict Resilience. Other activities fell outside of these priorities, while contributing to our longer term 3 year objectives. We have seen progress this year with.. Community led tech, moving away from proprietary tech systems and building an online community where Transitioners can share and collaborate across different circles and topics. Experimental online events/workshops organised to explore how best to support peer learning and sharing of Transition practices leg Training Conversations, Valuin6 work & accountability workshop, prototype Practising Transltion event, Inter-8eingness gathering51. Language justice and diversity. including automatic translation on the platform to help workin8 across languages and a number of online events offering live translation. Leaming on this being shared between the Circle5. Transparent and open financial management of fund5 moving through our system. Learning about and designing story-based movement impact evaluation, through which we wlll soon be collecting and sharinE Stories from the wider movement. Developing trainlng curficulum guidelines and facilitator training. Launching a new project across our distributed system to curate and share effective and impactful practices of Transition. Influencing beyond the Transition Movement. We're working with aligned NGOS ar movements in both a voluntary and paid cap3Cbty to share our platform technical knowledge. Our work on shared governance and shifting power with the structural changes we have made Is inspiring other orEanisations and institutions (including Ethical Consumer, Toumevie, Power With, Economy, Transformationol Governance project and morel to move to new distributed forms and structures. This year has seen our international distributed movement support infrastructures activating even further. This includes the introduction of two new Hubs Link roles acting as a bridge between the Hubs Group, distributed circles and the Hubs Heart Circle. The Training circle created an online community of prartice for international Transition Trainers, launched the'Flexible Framework, to help trainers create high quality yet tailored trainin8 for different region5 and cultural contexts, and develope(S the Transition Network 5

curriculum for the Transition Facilitators Training. The new Territories sub-circle has been working wlth group5 and Transition leader5 in Francophone, Germanophone and Abya Yala ILatin American) territorie5 to connect with each other and develop projects and activities which support their regions. Thi5 included delivery of the Ab a Yala in Transition webinar serie5. The Inner Transition circle has ijeveloped and hosted lamongst other activities) a new monthly program named 'lnter-Beingne55', open to the wider community connected with the Transition Movement, where people and groups involved in cultural transformation or regeneration can connect and build collective resilience. After four years of experimentation, the Municipzlities in Transition project has concluded 8nd begun a new trajectory as an incorporated organisation'Kunelab' focused on applying what has been learned and disseminating the Local Transformation Toolkit methLTrdology, in support of a just transition of communities, brin8in8 all local actors together. Transition Together, our project work focused on Engknd and Wales, and in partnership with Scottish Communities Climate Action Network (the Scottish Transition Hub), is now in year two. Funded by The National Lottery Community Fund's Growing Great Ideas ftjnd, this work ha5 been growing infraslruclure, networks and capacity for Transition in Britain. This includes u5inB community network leadership Strategies to create the conditions for peer connection and support, and to build skills and capacities- distributing resources via 'seed grants, to build capacity and the deeper ambition of grassroots groups,. working with Transitioners to build distributive and grassroots leadership of the Transition movement,. and supporting intentional network and field building to create an ecology of community-led movements. 2. Our Objects The Charity's Object5 are to promote the conservation, protection and improvement ofthe natural environment and prudent use of natural resources for the benefit of the public, by advancing education and raising awareness of climate change, resource scarcity, peak oil and economic resilience. It aim5 to promote individual, community and organisational commitment to a reduction in carbon dioxide emissions, energy savin& reducing reliance upon carbon emitting energy sources and increasing resillence to resource scartity. It aims to promote sustainable development for the public benefit by the preservation, Conservation and protection of the environment and the prudent use of natural resources. It also aims to promote sustainable means of achieving economic development and regeneration in order to reduce reliance on scarce resource5 including oil. Transition Network's organlsational purpose is to support the Transition movement, amplify Stories of community-led change, and nurture collaborations across difference to challenge us all io reimagine and rebuild our world. The community level of scale has huge potentlal to Influence change and is a crucial part of developing and guldlng social and economic systems towarij sustainability. social justice and equity. There is an Inc￿851ng recognition that top-down approaches are not suffieient alone to affect change and need to be combined with community-level responses. Transition Network 6

Transltion is an approach that has spread now to over 40 countries. in thousands of group5.' in towns, village5, Clties. universities and schools. Around the world, there are 25 Transition Hubs that support and connect Transition groups in their country/region and connect Internationally. Involvement of volunteers Most Tran51tion groups are volunteer-based and the Transition movement is based on community led approaches, which in most case5 involve volunteers. Transltion Network did not have any volunteers within it5 own staff team during the year but we collaborated closely, In many projects and areas of work, with volunteers from Transition Hubs and Transition groups. 3. Activities, achievements and performance This year Transition Network prioritised work related to five areas.. Developing a Collaboration Platform for the movement, Communications, Movement Evaluation, Training and Supporiing Conflict Resilience. Other activities fell outside of these priorities, while contributing to our longer term 3 year project objectives. We report on progress toward these priority areas below. The International support system of the Transition Movement has moved through some structural changes this year. This runs through every aspect of our work and operations, Including trainingi communications and implementation of new technology- including platforms, software and finance systems. Between the Hubs Heart Circle IHHCI, Transition Network ITN) and the distributed work circle5, there is a continuing strengthening and development of the processes and prattices which support co- production and co-delivery. We are beginning to feel and observe the benefits of having a mgre distributed, grassroots and internationally led governance system to support the international movement. 3.1 Progressing current objectives 3.1.2 Activatin a virtual collaboratSon 18tform Humhub platform- for the International Transition Movement We have seen progress this year with community led technology and establishing an online collaboratlon platform for the Transition Movement. This includes moving away from proprietary tech systems and bullding an online communlty where Transitioners can share and collaborate across different circles and tOPlC5. There have been multiple technical challenges associated with inlegratlng open source software on a modest budget. however progress is being made. During the current year the Transition platform received 38(KJ vi51ts from 41 countrles, has 162 registered Ltsers with active accounts and includes working spaces dedicated to each of the distributed circle5 and groups of our international network as well as some hubs and terrltories. There has been a concerted effort to ensure the wider Hubs Group is well represented on the platform and tts introduce Hubsters to the new communication channels available to them. We are in the proce55 of resolvins an outstanding technlcal 155ue with real time chat services. Our focus over the coming twelve months will be on energising broader conversations, bringing in additional users and supporting them io connect and collaborate across, as well a5 Wlthin, the themed spaces. Transitlon Network 7

During this first year of operation our primary focus ha5 been on supporting people who are already collaborating internationally to move across to the Transition platfomi. With this now achieved, we have shifted focus to creating spaces open to people from across, and beyond, the Transition movement who are interested in sharing stories, experlences and learning transnationally. Vlve - Transition Together England and Wales Project Building on the learninB and experiences of the international project, the Transttion Together team launched Vive during the 'Together We Can, online summit in May 2022. Thi5 Iteration ha5 a specific focus on connection, networking and peer-to-peer support forTransitioners and aligned groups across the UK. The initial design involved the creation of a Transition Together space for broadcasting news and opportunities from the project. as well as geographical and themed space5 for peer-to-peer connection. Havin8 relied on freelance support in the initial monihs. a new Vive Engagement Lead iole was created in September 2022 to help grow the platform, acting as an interface between registered users and tech 5UPPOrt, and to host to-design session5 online and in-person. By the end of March 2023 there were 462 registered users accessing 12 geographical spaces, 16 themed spaces, 6 Transition Together sp3ces for back end collaborations and cohort5 for trainees and seed fund grantee5, and 7 user requested spaces including communitie5 of practice and regional networks in Scotland. A notable development is that the Scotland geographical Space 15 now hosted by Scottish Communities Climate Action Network ISCCANI who intend to Use Vive as their key member engagemeni tool. While this first phase of developing Vive has been to focus on growlng social networks, in the coming year we intend to work with a cohort of UK based Transition groups to explore its potential 8s an organising tool at the local and hyper-lotal leve15. Utilising and testing the various open source modules that can enable groups to communicate, meet. and collaborate in one place.. outsrde of the gaze and data harvesting of corporate platforms. 3.1.3 Communications Co-Learnin & Conflict Resilience Translating the Essential Guide to Doing Transition into other languages: In 2022 we supported groups who are working on translating the Gulde Into Albanian, Breton, Dutch and Croatlan. We also continued restructuring and adding to the freely available Transition online learning resources. New Conflict Resilience resource5 for groups: TN worked with a f￿elance writer and educator during this year to add new resources to our conflict resilience, group resilience and group culture collections. Thts includes providin8 a wider collection of written and video resources on shared governance, healthy power and decision making. New Co-Learning Project work: During this year we started a new delivery project called'Pract15ing Transitlon, which will remain a key focus for the organisation going forward. As parl of the Transition Movement evaluation work cond¥Jcted in the financial year, Transition Network identified and refined 10 characteristics of chan e as well as dozen5 of chan ractices that make a great difference in local commL¢nities. We have been working on how to communicate with, engage and create co-learning opportunities for community activists (within and beyond the transition movement) in applying these to bring about change at scale. A learning and communications campalEn is in development that empowers activists and community organisers to share practices and amplify their impact. Tran51tion Network 8

The Hubs Heart Circle facilitator, Sarah McAdam, and two key members of the Inner Tr2n51tion Circle, Anahi Beatriz Pacheco and Eva Schonveld, designed, organised and facilitated a workshop, hekl in September 2022, open to past and present members of the distributed circles. Thi5 workshop compared practices across distributed circle5 and explored the challenges and impact of creating a new culture around money and accountability. We see scope to replicate and build on this os part of the longer term Practising Transition series of activities. In December 2022 B wot*shop was held exploring two of the ten characteristics. with an overall focus on 'Caring for Each Other In Social Movements,. Feedback on this event was good, however, compared to the number of people who signed up, live attendance was low. We recognise the need to activate further communications campaigns around these types of events in order to support wider participation, including offering multiple language, translation and timezone possibilities. In parallel, emerging from the Trainers Community of practice, Nuno da Silva recently offered 3 webinar on 'Living Systems approaches to Transition,, inviting Transitioners to reflect through a living systems perspective on our thinking about how Transition initiatives engage locally with change processe5. This closely relates to the Transition characteristic 'to apply living system design,, and complement5 next Steps In the Practising Transition series. We are bringing together a core team from across the movement that will lead on the delivery of the Practising Tran51tion campaign. Diverse contributors to the carripaign team is an end in itself but will also enable us to hold welcoming and safe spaces for people from across land beyond) the movement to participate. A'Practising Transition, space/group In the Transition Platform has been created and invitations to join. energise and co-create in this space have been shared. People are joining the space and startirbg to build interest and ideas for next steps. 3.1.4 Movement Evaluatlon Following the evaluation work done across the international movement durinE 2021- 2022, we decided to find a MO￿ slructured way to design and deliver future evaluation work which would help this to be even more rigorous, accessible and easily analysable. Following recommendations from severdl other charities and organisations we have decided to progress future evaluation work using software talled Sensemaker, in collaboration with Cynefin Company, an actlon research and development organisation. Sensemaker wlll allow us to collect story based data from local Transition groups and Hubs, with both qualitative and quantitative aspects, in multiple languages. It will enable us to collect feedback, support needs, and to surface and assess patterns and principles, from across the dlver51ty and cornplexity of the international movement. Two staff members undertook training in the design and delivery of sensemaker projects this year. This was followed by a consultation of TN staff and trustees, plus the Hubs Heart Circle and distributed Circles, plus several conversations with Transition researchers and academic5, to design a pilot Sensemaker Survey. The pilot survey commenced testing during the early part of 2023. and we aim to rw)ove to the full delivery stage of the survey by the end LTrf 2023. Transitlon Network 9

3.1.5 Trainin The majority of Training development and delivery work at the international Transition Movement level is now being carried out by the TraTning'distributed circle, which is made up of members and accredited trainers from the wider international Transition movement. A report on their activities, whlch were svpported and funded by TN, is included in the 'Co-delivery' section which follows. 3.1.6 Influencin TN has continued to reach beyond the movement through extensive influencing and partnerships. includlng with many funders and institutions.. EDGE Funders Alliance - TN continues to engage in the EDGE Funder5 Alliance as one of the members- collaborating, reflecting on how funds are distributed internationally and bringing it5 perspective. values, and processes. Governance & Universite du Nous- in June 2022, UDN became a cooperative and launched 8 campaign to engage cooperative members and raise funds. TN1s considered by UDN 85 one of the most significant success cases of their work in accompanying groups in shifting their governance. Filipa is now a member of the cooperative, sharing learnings, processes and values from the TN governance and culture with other5 from various francophone aligned organisations/movements. o Sharing governance learning5: workshops Icase-studyl to the team of Tournevie Bru5se15- at Gato Vadio Booksho in Porto. Sharing governance learnings and peer-to-peer support- UDN- Mathilde Imer from Primoire Po uloire Ma en from On est Pret and Filipa from TN laccompanied by Sarah McAdam met in January to explore ways to continue a governan￿ learning partnership. ean Climate Pact- TN was invited by the European Commission to participate in the European Climate Pact's Strategic Advisory Board ISABI Pact 2.0 implementation. Lush S rin Prize- Filipa Pimentel has continued to be a judge and holds 3 role supporting collaborative culture to continue as a second group of jud8es have joined. She continue5 to help design and hold the decision-makin8 processes and group culture dynamics. Re-Alliance is launching a new webinar 5erie5 in 2023. called 'Designing Regenerative Change,. Each webinar will focus on 3 different part of the regenerative design proces5, Wlth an aim of showcasing paradlgms and principles regarding that process. Filipa Pimentel was Invited as guest speaker to share a story in the February webinar about Visioning. Liège - the mayor made Rob Hopkins a formal citizen of Liege on 14th November - an institutional recognition of the inspirational Ceinture Aliment-Terre, which was catatysed through the Liège Tran51tion group. Euro 3.2 Co-delivery across our international support infrastructure This was a year where our distributed Infrastructure at the international level the Hubs Heart Circle and distributed circles such as Training for Transition and Inner Transition Circle - increased in activity and was creative in taking forward their responsibilities and collaborating at the international level. Transition Network 10

3.2.1 Hubs Grou ènd Hubs Heart C5rcle The network of Hubs is expandinB and thrivinE. For eKample, the new official francophone hub, Réseau Transition Hauts-de-France. is extremely active and doing Impressive work in mapping, studying and supportin8 local initiatives in their region. A new Territories subcircle, formed as part of the Hubs Heart Clrcle, starled to think strategically about how to catalyse and sustain collaboration between hijbs in particular region5 or linked by a common language. This involved Francophone hubs collaborating virtually on the platform, Gem)anophone hubs meeting in person post-covid and Abya Yala (Latin America) events series weaving slories of grassroots activism and embodying alternatives to colonialist ways of thinking and acting. The Hubs Heart Circle brought a group together for a reflective process regarding how resources are allocated,. including setting rate5 of pay and holding each other appropriately accountable for delivery. This proved a valuable opportunity to compare practices across distributed circles and io explore the challenges and impact of creating a new culture around money and accountability. The Hubs Heart Circle collaborated clDSely with Transition Network on developing funding applications, de5iEn of strategic priorities and budget setting for the year. From March 2022. the Hubs Fleart circle held elections to renew its roles and membershlp from leaders within the Tran5itlDn movement. This was an important step in its governance and Several measures were taken to support the process, including external facilitation. 3.2.2 Hubs Links Two new Hubs Links, Rakesh Bhambri IUKI and Monica Plcavea {Brazill were elected by the Hub5 Assembly into the Hubs Link roles. Wlth the aim of communicating essential information between the 'Hubs Group. and the"Hubs Heart Circle" After a lot of one to one olrtreach, representatives from 17 of the 20 full Hubs. and 2 out of 3 emerging Hubs are now present on the Transition Platform. This has laid the groundwork for connection and communication acr05S the network; particularly in Sharing of stories and practices. Hubsters are busy and often vnder-resourced. Supporting people to engage in a way which benefits therwi, their Hubs and others on the Platform is a challenge. Holding facilitated spaces to help newcomer5 Bet Used to the new platform, hear their needs and develop helpful responses would be helpful over the coming year. 3 Trainin for Transition Circle supporting traininE was a key 3reo of prioritisation for this year. The Training circle focused on three core project5 which had prevlously been identified as priorities by Transition trainers from acros5 the movement. These were: Establishing and maintaining the Transrtion Trainer5 Community of Practice.. to build a supportive network, share best practices and experiences, foster collaboration and explore leaming opportunities. 65 trainers have been recognised and registered In the new database portal of internationall reco nized trainers and have joined the Transition Platform. In late 2022 a team of Trainers started monthly gatherings on topics that interest our Commtsnity of Practice in English and Spanish. Transition Network 11

Initiating the °Flexible Framework" a common currlculum for presenting the Transltion model, combining fundamental Transition concepts, method5, practices. objectives, and WOr￿hop session5. The alm of thi5 framework Is to support Transition Trainers and colleague5 in Dfferin6 high quality learning experiente5 to local communities and Transition Initiatives, while also having the freedom to tailor and adapt Transition ideas. methods and practices to each unique local community. Consultations with 26 trainers and colleagues around the world have occurred, leading to the compilation of a Gulde to support trainers in applying the foundations and key components of Transition Training. Preparing the curriculum for an online Transltlon Facilitators Training (TFT).. This 8 week online course will be open to active Transition facilitatorsltrainers and others in aligned networks. 3.2.3 InnerTransition Clrcle The Inner Transition Circle IITCI has created a 'Heart of the Matter, space in the Transitiorh Platform, to develop an open Community of Being and Practice hosting monthly events, posting of related resources, and sharing personal experiences, perspectives and questions by members of the ITC team. In addition to Tran51tioners, this space 15 being used by people who are not partlClP3nts in other international circles. It includes a few from aligned movements who have told us they value this spa￿ as a place where they can connect and share learning with the Tran51tion movement. The Inner Transition Circle hosted eight 'Heart of the Matter, conversations, bringing people across the movement together to explore personal and cultural experiences of working transformatively with conflict. The circle developed and hosted, during five months land ongoingl. a new monthly program named Inter-Beingness. open to the wider community connected with the Transition Movetnent. This is a safe space for cultural transFormationlregeneration activists to gather and build collective resilience. Some activities of the rrc, such as progressing the Conflict Transformation Programme ICTPI and Tran51tion Immune System. have been paused due to capacity Issues the circle. This wa5 partly due to an interpersonal conflict which took time to properly address. Through processing this conflict and applying many of the tools developed within the Transltion movement, ITC and TN have improved communication, feedback, vulnerability, collective healing and, perhaps most importantly* leamings. Today ITC feels like a much stronger and mature team. solid in its purpose and activities. 3.2,4 Territories The Territories sub-circle of the Hubs Group continues to evolve, now with representation ol S territorie5.' Francophone, Germanophone, England and Wales, Asia and Abya Yala. Germanophone territories and Abaya Yala groups elected their coordinators and joined the Territories sub-circle in December 2022. This year we resourced conversations in the Germanophone hubs and ierritories as they organised in collaboration. There wa5 8150 delivery of the Ab a Yala in Transition webinar series in servlce to transitioners and activists from across Latin America. These were communicated and held in 3 languages wlth simultaneous interpretation IEnglish, Spanish and Portuguesel, and 15-20 external participants per session. 43 people were resourced in this project lorganisers, speakers and interpreters). Tran51tion Network 12

3.2.5 Municl alitles In Transition MIT Kunelab After four years of experimentatlon. the Municipalities in Tran51tion project has concluded a research journey and begun a new trajectory focused on applying what has been learned. Next steps include strategies for dissemination, experimentation and application of the Local Transformation Toolkit methodolosy in support of a just transition of communitie5 and bringing all local actors together. The MIT team have created a cooperative called Kunelab htt kunelab.or Additionally, the team led the Municipalities for an Equitable Transition in Europe IMEETI. MEET is a project developed under the Citizens, Equality, Rights and Value5 Programme ICERVI. It was created building upon the experience of several municipalities who have taken part in the international MIT projert since 2017. Since then, more than 10 municipalitie5 in Europe have taken part in the project, with politicians, technicians, activists and citizens coming together to Share their experience, learning, challenges and opportunities for synergy through the Community of Practice of the project. Since spring 2022, the MEET project ha5 been providing a space to build relationships, share experiences between partners and dlsseminate the Local Transformation Toolkit methodology to more than SOO people from different place5 and professional sectors. The Kunelab team continued to offer support to the existing MIT tutors and Community of Practice and to look for opportunities to bring the Local Transformation Toolkit to new municipalities. 3.3 Transition Together- Growing Infrastructure, Networks and Capacity for Transltion in Britain The Transition Together project started in June 2021, and is funded by The National Lottery Community Fund's Growing Great Ideas fund. We are now reporting on the second year of this project. which airns to grow infrastructure, networks and capacity for Tran51tion in Britain. The project is a partnership with Scottish Communities Climate Action Network ISCCANI- the Scottish Transition Hub. In the year to March 2023. Transition Together has built on its initial planning and launch phase. It Is now more connected with the Transition movement and delivering programmes and activities to= Use eommunity network leadership strategies to create the condition5 for peer connection and support and to build skills and capacities. Distribute resources to grassroots activity to build capacity and the deeper ambition of groups. Work with Transitioners to build distributive and grassfOOts leadership of the Transition mavement in Englanis and Wale5. Support intentional network and field building to create an ecology of community-le movements. Specific activities included.. Development and delivery of new Launch and Thrive training proErammes and a one-off Welcome to Transition session. These interactive programmes gave enquirers, new and established groups the chance to connect, to learn new community organSsing skills and techniques and to strengthen thelr understanding and capaclty to deliver Community-led change. Further details of the Launch and Thrive Trainin Transltlon Ne￿ork 13

• DelThrering an online 'Together We Can, summit with 31 workshops, panels and evenlsto nurture, build and inspire community-led action with En estimated total attendance 01936 participants. Read more and watch back sessions at the To ether We Can Summit Ma 2022. Distributing £160,000 of seed fundins Erants to 70 Transition Eroups, enabling them to initiate new grassroots activity and projects in communities across England and Wales during 2023. A programme of support and storytelling wa5 also put in place to asslst groups with the developmenl and successful implementation of their projects. Establishing a 'caretaker group. to consult Transition groups and explore a representative structure for Transition in England and Wales. Thi5 group was made up of experienced Transitioners and those outside the movement, and drew on the experience of other territorie5 and movements. The communications that Support the project contlnuing to Erow and diversify with increases in engagement and new social media channels. Regular newsletters, blogs and social Media post5 have highlighted the activity of dozens of Eroup5 Wlthin the movement and beyond, raising our profile, sharing ideas, inspiration and learning. and in particular highlighting community-led responses to the cost of living crisis. The VIVE online platform continuing to grow in participation and new spaces and functionality being developed as well as SCCAN usinE it to support regional activity in Scotland. Developing a draft structure for a new systems thinking mindset guide which will form the ba51S of a new resource to be completed in year 3. ExpandinB and Strengthening the ecosystem of networks and groups working for change. Transition Together continue5 to support the work of CTRLshift. Two new prototype projects have been developed focused on building community power and are bein6 funded alonsside a community of prattice to support this work. As well as this, an action database process h85 been developed which is to be rolled out in October to build and increase the membership of the CTRLshift network. Preparing the ground for an exciting year in 2023-24 with two in person regional gatherings co- designed by local Tran51tion groups- a series of new, monthly peer learning skillshares,. a further, larger round of seed funding- preparations for a new system5-thinking guide,. the appointment of a new Just Transition lead to centre social justice in our work and the next phase of the hub development process. In Scotland the project is led by partner Scottish Communities Climate Action Network ISCCANI. The fundins that supports SCCAN's core cost5 has enabled them to manage and secure £500,00) funding from the Scottish Eovernment to support regional networking in relation to the Scottish government's plans to establish a national network of regional community climate action hubs. SCCAN will soon have 15 coordinators based in regions across Scotland. Transition Together project funding 15 also supporting range of training for SCCAN members and a Storyiellers Collectwe using creativity to amplify stories of community-led climate action and start to change dominant narratives. 3.4 Fundraising and Income Generation Fundraising and income generation activities continued as core areas of work. This included working with our two largest ongoing funders, the anonymoLJS international foundation and The National Lotterv Communlty Fundi plus other funders including Spark ECOLISE. We share our heartfelt thanks for the generosity and 5UPPOrt of all our funders. We lost a key member of the fundralsing team in December, and moved quickly to recruit a bridging contractor for the immediate short term, in addition to recruiting Transition Network 14

a new Funding role for the Hub5 Heart Circle. The bridging contractor supported eKlSting funder relationships, reporting and developing new opportunities. We a￿ recruiting for a permanent Fundraising role in 2023/24. The new Funding role in the Hubs Heart Circle Supports the wider distributed system including Tran51tion hubs and groups to resource their activitie5 and partnerships. Both Funding role and contractor are working together to identify and develop collaborative fundraising opportunities and to reactNate the Income Generation Group. Thls collaborative fundraising approach will continue with the new TN staff Fundraising role in 2023124. We plan to develop and implement an ethical fundraising policy in 2023124. Open Collettive wos introduced as a distributed budget management and fundraising tool. The Transition Movemerbt ha5 community, trust and sharing as central values. Open Collective provides us with 3 transparent and open financial management of funds moving through our system, which support5 operationalisation of these values. Open Collective is a platform that enables payment5 to organisations/circles with no incorporation stalus or business bank accounts. TN provides the possibility for initiatives and decentralised circles of our supporting international support infrastructures to access fiseal hosting in which everyone can participate in decision maklng around, and distribution of, budgets for international support and project work. Open Collective allows all members of the system to see where funds come from and where they go. This year we did a trial with two distributed circles.. Platform circle and Inner Transition circle. The intention 15 to extend the use of this Open Collective across our entire system within the next financial year. 3.5 Plans for future periods Transition Network agreed two broad Joint objectives with the Hubs Heart Circle for the years 2022 - 2025. These are, Objective I: Achieving a step-change in connections and flow of communication across and beyond the mycelial network of the Transitlon movement, to increase the impact and vi5ibilily of Its contribulion to regeneration. Objectsve 2: Contributing to the development of wider cultural narrative5 and practices of change, to help people create the conditions in which transformative regeneratlve change can arise and to build collective resilience and solidarity at multiple levels of scale. Over the winter period we held a collaborative strategic review with members of the Hubs Heart Circle to review progress on these objectives and clarify specific strategic intentlons and dellvery activities for the next 18 months. These were agreed a5 follows, l. Practising Transltion deepen the shared understandingi and widen the application, of practices which bulld resSllence and support positive change across the Transition movement: Embody Transition values and draw on Transition experience in the way we approach all our activities and communication. Be transparent about what we're doing and why, so we're supporting learning to happen at multiple levels of scale. Organise an experimental series of events and activities, co-designed and co-(lelivered by the Hubs Group, Training Circle, ITC. TN, creating opportunities to share, develop and apply learning relating to practices of change. Transition Network 15

Through the frarning and deslgn of these events and activitles, focus tsn exploring and discerning which practices are most impactful/effective, and whether this varie5 in different cultures & contexts. Collect stories of impact, plus practices and conditions which support impact, through the Sensemaker survey and develop additional communications content and activities on the bas15 of the gathered information Be proactive in bringing more perspectives ir¢to our experiment5- work in mU￿1Ple languages, seek out missing voices and, where appropriate, ally with organigtions and group5 beyond the Transition movement. Ensure that peacebuilding, conflict resilience and conflict transfoimation have dedicated space and time within the Practising Transition series. 2. Pathways to Transition - create more visrble, accessible pathways which support our audiences to be Inspired by and engage with Transition stories. resources. events. training and opportunities for collaboration at different levels of scale: Share stories of Tran51tion activities, impacts and practice in different contexts, and in different voices and languages. Simplify and update web presence and online accessibility. Make more vlsible the ways people can engage with local groups. HLtbs and the international Transition support infrastructure. Curate learning pathways to resources and training available across the movement. Facilitate and engage in conversations across the wider ecosystem of eco-social change. sharing learning within and beyond the Transition movement. Support participation on the Transition Platform. Implement evaluation and feedback loops, to better understand evolving needs in the movement and irnprove the impact and effectlveness of the support available. 3. International capacity building- ensure the Transition movement support ecosystem. including the HHC, TN, Distributed Circles, Hub5 Group and Hubs become increasingly effectlve. resillent and visible. Attract, diversify and redistribute funds. Clarify longer term financial aspiratlons, system5 and accountability, to better support the international infrastructure and the wider movement. Review and renew 3 shared sense of purpose and identity. Clarifylagree expectations and accountability around participation and colla￿)ratIOn {e.g Hubs groupi Platform). Simplify and clarify domains, roles and responsibililies. Support the development of competence and accountability. Simplify and clarify the development and delivery of strategy. Implement planning, evaluation and learning out loud processes. Continue learning and expression of shared governance, distributed leadership and Transltion valueslculture. Invite, support and make welcome Iliverse membership and expression of Tian51tion. Transition Network 16

3.6 Grant-making Policy Tran51tlDn Network made a number of grants during this year. Primarity, we make grants to Transition Hubs and Transition Eroups as part of our support, cèpacity-building and distribution of roles and responsibilities in the Transition movement. We will occasionally Make grant5 to a partner organisation outside the Transition movement as part of our project work; thouEh this was not the case during this financial year. Grants to su ort the work of the Hubs Heart Circle and Hubs Grou In this financial year we did not run a funding round for Hubs, but we used grant-making to support the following work prioritised by the Hubs Heart Circle. Transition Network made grants to.. • Reseau Transition ITransition Hub in Brus5els/Wallonial to enable the organisation lo provide the Hubs Coordinator role. Transition Netzwerk e.V. ITransltion Hub in Germany) to fund Communications in Territories in Transition. resourcing the development of identity, brand. tone and voice for Abya Yala and Germanophone Territories. Transition Spaln to fund the Translations project of the supporting system of the Transition movement. Transition To ether ro ect Seed funding went well this year. with 102 applications receNed and 70 grants awarded. We supported the application process with a big communications push, as well a5 a seed funding 'blizzard of stories, webinar, where previous grantees talked about their seed funded projects to inspire people to act and apply. We also ran a FAQ webinar where participants could ask questions about applying. There are criteria for eligibility and for scoring and assessing applications. The criteria for asse55ing applications prioritise social justice, Transition principles, collaboration, capacity and creation of livelihoods. For those given a grant we delivered a Seedfundin webinar based on the 3D framework. to get group5 to really think through how their project can widen. deepen and lengthen their impact in their communities. This was very well received. We also set up a seed funding space on the VIVE platform and 80 people signed up. We offere(l in person feedback to the unsuccessful applicants. Four groups took this up and it was produttive. We feel that our approach to seed funding is very thorou6h, supportive and inspiring. We would like to make this more participatory and are exploring small ways of doing this in Year 3. If we were to receive on-going funding we would continue to develop a participatory approach io the seed funding process in line with the hub developments so the communities are far more involved In the actual decision making process. The totsl grants of £160,000 to 70 projects across England and Wale5 breakdown as follows: 34 Micro Grants. Value: £16,108 26 Full Grants. Value: £108,137 8 Partial Funding Grants. Value £21,075 2 Partnership Grants. V31ue: £14,680 SCCAN (which has now absorbed Transition Scotland) is a partner in the Transition Together prolect they received £38,573 lo deliver work in Scotland. Transition Network 17

4 Thank You to our Funders We are immensely grateful to Bll of our donors and funders who, through their support and vision, enable us to continue to support and inspire the Transltion movemenl and to explore and develop new approaches. In particular, we thank wholehezrtedly the following funders, who have made the work outlined in this report possible, for their grant funding during the year- •Our main international funder, a Foundation who wishes to remain anonymous and who support many of our core costs across TN. the Hubs Heart Circle and distributed circle5. Their incredibly generous support is very much appreciated by the Transition Network team and our international distributed support infrastructure. We are very grateful that they are continuing to fund our international focus on strengthening the mycelial network of Tran51tion, enabling us to support and stimulate a wealth of work around the world. •The National Lottery Community Fund'5 Growing Great Ideas fund for significant funding to help us grow infrastructure, networks and cap3Clty for Tran51tion in Britain through the Transition Together project. On a small number of occasions TransitSon Network acts as a "charity conduit" to enable organisations and projects which are strongly aligned with our strategic aims. to access funding. In 2022-2023 we continued to administer a Erant from Fondation Charles Leopold Mayer pour le Progrès de I'Homme for the Real Economy Lab, o project for alternative economics in a low.carbon world. Transition Network 18

5 Financial Review of the Year Total income for the year ended 31 March 2023 £1,214,69612022 £562,822). Restricted income amounted to £1.212,8541£561,0751 and unrertricted income amounted to £1,842 12022 £1,747) . Grants comprise 99.7% of the Charitvs income12022'. 99.7Yol. The main sou￿S of unrestricted income were donations, book royalties. talk fees and events income. A large grant received in the year was from a Foundation that Wlshes to remain anonymous, which funded £300,000 during the year12022.' £350,000). This grant supports a wide range of the Cl￿rIty,S activities and, in particular, its rnternational work. The National Lottery Community Fund (Growing Great Ideas programmel provided grant funding of £909,614 for the Transition Together project12022= £160.3931. Transition Together commenced in June 2021, with its years running from September to August and therefore does not align with the Financial year. The restricted fund surplus for the project of £413,805 as at 31 March 2023 repre5entsthe project cash-flow funds held at that date. Total expenditure was £805,707 as at 31st March 202312022 £649.1321. Total staff costs increased by 7%: principally as the result of the annual c05t of lsvlng award. The amoLtnt of unrestricted general funds increased slightly to £133,467 as at 315t March 202312022 £131,6251. The amount of restricted funds increased to £424.225 as at 31st March 202312022 £17,078). This was mostly because of the National Lottery Community Fund erant for the Transition Together. grant funding income scheduling. Total funds held at 31 March 2023 amounted to £557,69212022 £148,703). The Charity incurred costs of £8,31212022'. £5291 in the year for professional fundraisers seeking funds from inslitutlons. Reserves Poli The reserves policy seeks to balance the objective of spending income with the need to main13in the minimum level of reserve5 to ensure the Charity can continue its core activities and to provide time to adjust to a change in financial circumstances. A55ets must be sufficient to enable the Charityto operate effectively, meet all of its legal obligations and cover any sums pzyable to staff shoijld they be made redundant. The need to maintain free reserves 15 emphaslsed by the CharitVs financial forecast5 showing low levels of unrestricted income in future years. The target level of free reserves is £107,000, which equates to approximately four months, core runninE Costs. At 31 March 2023, the amount of free reseNes. calculated as being unrestrirted funds excluding fixed assets, wa5 £132.724 which is above the target level. Transition Network 19

6 Structure, Governance and Management Governin document The Charity is incorporated as a company limited by guarantee without share capital (registered umber 061356751- Under the provisions of Section 60 of the Companies Act 2006, the Company is entitled to omit the word"Limited" from its name. It 15 governed by its Memorandum and Arli(le5 of Association. Trustee5 are all Director5 of the company. In the event of the company being wound up the liability of the members is limited to £10 each. Trustees The Trustees serving during the year and Since the year end are listed in Charity Information on page 3. During the year a trustee recruitment campaign resulted in the appointment of three new trustees.. Mike Boyle, Bess Saunders and Kelly Tyler, all appointed on 27 july 2023. The members are Dlrectors for the purpose of company law and Trustees for the purpose ol charity law. All trustees are members of Transition Network'5 Primary Circle which has the following Purpose and Accountabilities: Prima Circle Pur ose.. To connect to our evolving organlsational purpose, agree and energise Transition Network's strategic focus and overall governance model. Accountabilities= To set and keep under review our evolutionary organisational purpose lensurin8 alignment with the charitV5 objects as set out in Transition Network's Memorandum of Associationl To ag￿e any changes to the organisational Safety agreement To admit new merNber5 to the primary clrcle andlor make any changes to criteria for membership To agree ary significant changes to Transition Network's strategic framework, as determined bv the strategy review role or other appropriate role To determine broad areas of focus for the organi￿tIon over the coming 12 months To elect the lead link of the Heart circle. The day to day running of the charity is delegated by the primary circle to the lead link and Heart circle. Trustee5 meet at least three times a year to receive and approve Primary Circle decision5 and to focus on matters reserved for the trustees including financial performance and risk. The Trustees regularly review the composition of the group of Trustees and consider whether the Skills, experience 8nd diversity are effective for the good governance of the Charity. New Trustees are appointed following an pplication and Inte￿ieW process. As part of the Trustee induction process, each new Trustee is assigned a steward, who is one of the existing Trustees and who, amongst other thing5, explains the role and responsibilities to the new trustee. All employees receive the same full-time equivalent salary subject to a fixed additional rate forTransition Together work. Cost of living pay increases are agreed by the HR deci5ion-making group and then referred to a trustees meeting for approval. Risk Mana ement A risk register is maintained and the following risks were addressed in the year: Transition Network 20

Loss of staff with long-term experience and skills in the Fundraising, Finance and Communitations roles. This was Successfully managed with the recruitment of new staff members and structural changes to the organisation tg cope with less capaiity. There has been a reduction in fundraising in activities such 35 donations. talk5 and events. which contribute to the levels of general reseives. This has been further impacted by a salary pay award of 7% to alleviate the cost of living impact. The Income Generation Group has been reformed as of February 2023 to develop a funding strategy with a cross participation of new trustees, UK and international staff. Human Resources - previous policy documents were ineffective or absent. Transition Network contracted the services of People Support Co-op in co-creating new HR policie5 and updating existing policies to ensure employment law compliance whilst also ali8ning with TN'S working culture ènd shared governance. Public Benefit Transition Network is a public benefit entity. Charity trustee5 have a duty to develop strategic plans to ensure that we provide public benefit and achieve our objectives as set out in our governing document. These objectives are set out in section 2 of this report. We have referred to the Charity Commission's general guidance on public benefit when reviewing our aim5 and objectives and in planning our future activities. In partlcular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. Disclosure of informatlon to auditor The Directors have confirmed that there is no information of which they are aware which is relevant to the audit but which the Charity'5 auditor is unaware. Additionally. the DirertorslTrustees have taken all the necessary steps that they ought to have taken as DirectorslTrustees in order to make themselves aware of all relevant audit information and to establish that the Charity's auditor is aware of that information. Auditor A resolution proposing that Darnells Audit Limited be ￿appoInted a5 auditors of the company for 2024 will be put to the members at the Annual General Meeting. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Slgned on behalf of the Trustees on....... - 2023 Darren Watmough (Director) Transition Network 21

TRANSITION NETWORK STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees, who are a150 the d1￿ctOrS of Transition Network for the purpose ol company law. are responsible for preparing the Trustee5' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn GenerallyAc¢eptedAccounting Practic&}. Company Law requires the Tru51ees to prepare financlal statements lor each financial year which gNe a true and falr vlew of the state of 8ffairs of the Charity and of the incomin9 resources and application ol resources, induding the incorne and expenditure. of the chartsble company for th81 year. In preparing these financial statements. the Trustee5 are Tequired to.. select suiiable accounting policies and Ihen apply them consistently; bserve the method5 and principles In the Charities SORP., - make judgements and estimates that are reasonable and prudent-. and prepare the financial statements on the golng concem basis unless it is inappropriate to presume that the Charily will conbnue In operation. The Tru5tee5 are responsible foi keeplng adequate accounting records that dlsclose wlth reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial 51alements comply with the Comp8nies Act 2006. They a￿ a150 responsible for safeguarding the assets of the Charity and her£e lor taking reasonable Steps for the prevenbon and detection ol fraud and other irregulaiiues. 22

TRANSITION NETWORK INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRANSITION NETWORK Opinion We have audited the financial statements of Transition Ne￿Ork (the 'Charity? for the y6ar ended 31 Mafch 2023 which comprise the statement of financial activibes. the balance sheet, the statement of cash flows and nDte5 to Ihe finanelal stafements. Including significant accounlsng policies. The financial reporbng framework that has been applied in their preparation Is applicable law and United Krngdom Accounting Sland2rds, iftcluding Financial Reporting Standard 102 The Financial Reportlng Stenderd 8pplicable w (he UK and Republi¢ ol Ireland {United Kingdom Generally Accepted Accounting Practieel. In our opinion. the financial statements.. glve 8 true and fair wew of the slate of the charitable company's affairs as at 31 March 2023 and of its Incoming resour¢e$ and application of resources, including ils income and experldilure. for the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accaplgd Accounlhig Practice,. and have been prepared in accordance wtth the requlrements ofthe Companies Act 2DC6. Basis for oplnion We tondu¢led OLtr audit in accordance with Inlernaiional Standards on Auditing IUKI IISAS (UKII and applicable law. Our responsibilities under those standards are further described in the Auditoffs ￿spOnsIbl11¢1es lorlhe audit ol Vje financial statements section gf our report. We are independent of the Charity in aecordane with Ihe ethical requirements that are relevant to our audit of the financial statement5 in the UK. including the FRC'S Ethlcal standard. and we have fulfilled our other ethical responsibilities in aceordance wlh these requirernen15. We believe that the audll evidence we have obtained is sufficient and appropriatè to Fwvide a basls for our oplnion. Conelusrons relating to going concern In auditing the financial staternenls. we have concluded that the Trusteès. use of the going concem basis of a¢counbng in the preparation of the financial statement5 is appropriate. Based on the work we have performed. we have not idenbfied any material Un￿rtaIntieS relatlng to events or conditions that, individually or collectively. may cast significant doubt on the Charity's ability to continue as a golng concern for a period ol al least b￿e1ve months from when the financial ststemenls are autho￿sed lor iS5LE. Our respon5ibililies and the respon51bilities of the Trustees wilh respect to going ¢on¢em are described in Ihe relevant sections of this report. other knformation The other informabon comprises the Snformation included in the annual report other than the financia stalemenl$ and our eudil0rf5 report thereon. The Trustees are re$ponsible for the other Inftsrmalion contained within the annual report. Our opinion on the finan¢lal Statements does not cover the other information and, eX￿p1 lo the exlenl otherwise explicitly 51aled in our report, we do not express any frjrrn of assurance conclusion Iheieon. Our responsibilrly is to read the other information and. in doing so, ¢onsider whether the olher information is materially Inconsistent with the financial slalements or our knowledge obtained in the course of the audit, or othetwise appears to be materially misstated. If we klenlify such materfal irt¢onsistencies or apparent malerial misstatements. we a required to delermine whether this gives rise to a material missiatemenl in the financial slalements themselves. If. based on the work we have perfDTmed. we conclude that there is a material misstaternent of tht5 other inlormatiors, we are required lo report that fact We have nothing to repori In Ihls regard. Opinlons on other matters prescribed by the Companies A¢t 2006 In our opinion. based on the work undertaken in the course of our audiL' the infomialion given in the Trustees. report for the financial year for which the financ￿[ stalemenis arè prepared, which includes the directors, repgrt prepared for the purposes of company law, Is consislenlwilh the financial slalements", 8nd the dlreclors. report Induded within the Tru51ees' report has been prepared in accordance wlh applicable k9al iequirements. 23

TRANSITION NETWORK INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF TRANSITION NETWORK Matters on which we are r8quired to report by exception In the light of the knowledge and understanding of the Charity 8fKI its environment obtsined in the u￿r$e of the audit. we have not identified material mi5Statements in the directors, report Included within the Trustees, ieport. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2￿6 reqLTires us to report to you if, in our opinion.. adequate aceounting record5 have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial ststemenls are not in agreement wth the accoLNling records and relums., or certain disclosures of trustees. remuneiation specified by law are not made., or we have nol received all the infornation and explanations we reqLrire for our audit.. or the TIu5tees were not enlilled to prepare the financial statements in accordance with the smal companies reglme 8nd lake advantage of the small companies, exemptions in preparing the Tn¢slees' report and from the requirement to piepare a strategic reporL Respgnslblllties of Trustees As explained more fully In the statement of Tiustees. responsibilities, the TTUStees, who are also the diredor5 of the Charity for Ihe purpose of company law, are responsible for the preparation ol the finan¢ial statements and for belng sat151ied that they give a true and fair view. and for such inlemal control as the Trustees determine is necessary to enable the preparation ol finaneial 51alemenls that are flee from material mi5Statement. whether due to fraud or error. In preparing the financial statements. the Trustee5 are responsible for assessing the Chariifs ability lo continue as a going concern, disclosing. a5 applicable. matters related lo going concern and usin9 the going oncem basis of accounting unless the Trustees either intend to Iquldate the charitable company or lo cease operations, or have no realistic aliernative bul to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtaln re85onable assurance about whether the financial slatsmenls as a whole are free from m8lerial mis51alemenl. whether due to fraud or error. and lo issue an auditorfs report that includes our opinion. Reasonable assurance Is a high level of 855urance but is not a guarantee that an avdil conducted in accordance with ISAS IUKI will always delecl a matèrial misstatement when it exist5. Misslatemenls can arise from fraud or error and are conSide￿d material If, individually or In the aggregate, they could reasonabty be expectedlo influence Ihe economic decisions of users taken on the basis of these financial 5talemenls. Irregularities. InclLkling fraud, are instances of non-comp11an￿ wlh laws and regulatlons. We de$ign prOcedu￿S In line with our responsibilities, ouuined above, to delect material misstatements in respect ol irregularities, including fiaud. The risk of not detecting a material misslatemenl due lo fraud is higher than the risk ol not delecllng one resulting from error, a3 fraud may involve deliberate concealment by. for example. forgery, misrepresentslion or through collusion. The extent lo which our procedures are capable of detecting iTregularilies. InclLtdin9 fraud. is detailed below. However, the primary responsibility for the prevention and delectk)n of fraud rests with those tharged with governance ot the cornpany and management. We obtained an understanding of the legal and regulatory frameworks that are applicable to the cpmpany. and delermlned the most significant are the Health & Safely at Work Act 1974. the Employment Rights Act 1996. the National Minimum Wage Act 1998, the Part-Time Workers (Prevention ol Less Favourable Trealmenll Regulations 2000, The EqLralily Acl 2010 and the Employment Relations Act 1999 las well as Accounting and Reportvig by Charitie5.' Slalemenl of Recommended Practicfy applicable to charities preparing their accounis in accordan￿ wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. the Companie5 Act 2006 and relevant lax complianctr re9ulalB)ns In the UK). 24.

TRANSITION NETWORK INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF TRANSITION NETWORK We assessed the susceptibility of the company's financial statements to material misstatement. including how fraud might occur. by considering the controls that the company has established lo both address risks Klenlified by managetllenl and to prevent, deter and detect fraud. No particular areas were identified during the audit as being susceptible to Material rnisstatement due lo fraud. evaluated the conditions in the context of In¢enlives andlor pressure to commit fraud. con*dering the opportunity to commit fraud and the potential Talionalisation of the fraudulent act. Based on thSs understanding. we designed our audit procedures lo detect m8terial misstatements in respect of irregularities. including fraud, and to id¢nlify non-compliance wth the laws and regulations above. as follows.. Enquiry of management and those charged with governance around actual artd potential litigation and claims. Enquiry ol management in Complian￿ fUn￿lonS to Identify any In3lances of non-compliance with laws and regulations. Reviewng compliance wtth Health and Safety laws and regulations. Reviewing financial statement disclosures and ts51ing to supporting documentation to asses5 CDmpliance with applicable18ws and regulatsons. Auditing the risk of management ovgrride of controls. Induding through testing journal entries and other adjusiments for appropriateness. and evaluating the business rationale of significant Iransacb'ons outside the normal course ol business. We corroborated our enqviries through Inspects'on of supporting documentation and records. as well as Rviewing correspondence wth regulatLlry bodies where available. A further de5CriPtion of our responsibilities is available on the Financial Reporting Council'5 website at https.'Il ¥w.frc.org.uklaudilorsresponsibilitie5. Thi5 description forms part of our auditor's report. Other matters - ComparatlV85 In forming our opinion on the financial statements, whlch Is not modified, we have considered Ihe adequacy of the disclosures made in note 1 to the financial 51alements conceming the fact that the eomparalive figures in these financial stsiemenls were not audited as the company was below the audit Ihreshold. Our work has rKJl brought to light any material errors relating to the comparative fjgures. Use of our report This report 15 made solely to the charitable company's members, as a body, In accordance with Chapter3 01 Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mtghl slate to the charilatrje company's members those matters we are required to stale lo them in an auditor's report and for no other purpD5e To the fullest exlenl peirnilled by law, we do not accept or assume responsibility to anyone other than thè charitable Company and the charitable company's members as a body, for OLtr audit work, for this report, or for the opinions we have formed. Paul Beard (Senior Statutory Auditor) for and on bèhalf of Darnells Audit Limited Ch4rtered Accountsnts statutory Auditor Quay House Quay Road Newion Abbot Devon TQ12 2BU 25

TRANSITION NETWORK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 ￿n￿strICted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes e and endowments from.. Donations and grants Olher income 1,162 680 1,210.639 2,215 1,211.801 2.89S 522 1.225 561,075 561.597 1.225 Total income 1,842 1,212.854 1.214,696 1,747 561.075 562,822 enditurè on. Raising funds 33,036 33,036 15.039 15.039 Charitable a¢tiMties 772.671 772.671 634,093 634,093 Total expenditure 805,707 805,707 649.132 649.132 Net Incornellexpenditure) for th8 yearl Net movement in funds 1.842 407,147 408.989 1.747 (88,0571 186.3101 Fund balance5 8t 1 April 2022 131.625 17,078 148,703 129.878 105,135 235.013 Ftsnd balances at 31 Mzrch 2023 133.467 424,225 557,692 131,625 17.078 148.703 The statement of f￿ancIal ?ctivitses include5 all gains and losses recognised in the year. All income and expenditu￿ derive from continulng a¢livities. The statement of financial activities also complies with fhe requirements for an income and expendiiure account under the Companie$Acl 2006. 26

TRANSITION NETWORK BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Notes Fixed assets Tangible a55ets 743 799 Current assets Debtors Cash at bank and in hand 12 5,764 616,308 192,079 622.072 192,079 Creditors: amounts falling due wlthin one year 13 {65.123) (44.1751 Net current assets 556,949 147.904 Totsl assets less current Ilabilities 557,692 148.703 Income fund5 Reslricled lunds Unrestrlcted funds q4 424,225 133,467 17.078 131.625 557.692 148.703 These financial slalements have been prepared in accordance with the provislons applicable lo companies subject lo the small companies regime. The financlal statements We￿ approved by the Trustees on . Darren INatmough Trustee Company registration number 06135675 27

TRANSITION NETWORK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Notès Cash ftows from operating actlvlties Cash generated Iromllabsorbed by) operations 17 424,499 193.4691 Investing activities Purchase of tangibte fixed assets 12701 {4001 Net cash used in investing actrvities 12701 14001 Net cash used in financlng activlties Net increasèl{decrease) In cash and ¢ash equivalents 424.229 {93.8691 Cash and cash equivalents at beginning of year 192,079 285.948 Cash and cash èqulvalents at end of year 616,308 192,079 28

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Aecounting policiÈ5 Charity information Transition Network is a charitable private company limited by guarantee incorporated in England Wales and does not have a share capital. In the event of the cornpany being wound up each member, orany person who ha5 ceased lo be a member within one year ol the winding up, undertakes to contribute a sum not exceeding £10 if the company Is insolvent. Its registered office is clo Darnells. 30 Foie Street, T¢knes, Devon TQ9 5RP. 1.1 Accounfing convention Transition Nehvork is a public benefit entity. The financial statements are prepared under the historical cost convention and are in accordance with Ihe Flnancial Reporting Standard applicable in the UK and Republic ol Ireland {FRS102) leffeclive January 20191, the Companies Act 2006 and the Charities SORP IFRS1021 'Accounbng and Reporting by Charilies.- Slalement of Recommended Practice IFRS1021 {effeclive 1 January 20191. applicable to charities preparing their accounts in 8coordance with the Financial Repo￿"ng Standard applicable in the UK and Republic ol Ireland IFRS1021. The financial statements 8re prepared in sterling, which is the funetional currency of the Charily, Monetary amounts in these financial statements are rounded lo the nearest £. 1.2 Going concern At the tirne of apwtsving the financial statements, the Trustees have a reasonable expe¢talion that the Charity has adequate resources to conbnue in operational existenee for the foreseeable fubjre, based on Ihe latest finan¢k?18tatement5. Thus the Trustees conbnue lo adopt the going concern basis ol accounb'ng ￿ preparing the financial stalernenls. 1.3 Charltable funds Funds held by the charitable ¢ompany are èither.. Unrestricted gelleral fvnds- these funds can be used in ftjrtherance of any of the purposes of the Charity. Restricted funds these funds can only be used for pa￿tulaT restricted purposes within the objects of the Charity. Restrictions arise when funds are raised for a specific purpose. 1.4 Incomè Income is recognised and included in the accounts when all of the following criieria are met. the Charity is entitled lo the ineorne,- the amount can be measured reliably.. recelpt of the income Is considered probable., any performance c¢ndilions attached to the income have been mel or are fully within the control of the Charity. 1.5 Expenditure Resources expended are ￿cOgnIsed in the Slalernent of Financial Activities ISOFAI on an accruals basls as the liability is In¢urred. Expenditure Includes VAT. whieh cannot be recovered as the Charity is not registered for VAT. Charitable expendlture comprises those Costs incurred by the Charity in the defivery of its acllvitie5. It include both costs that can be allocated directly to such acbvities and those tosts of an Indirect nature n2ces3ary to suppc¢rt them. 29

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng policies IContinu8dl Governance costs In¢lude those costs associated with meeting the conslilutional and slalutory requirements of the Charity and include the reportlng accountant's fees and costs knked lo the stratègic managemenl of the Charity. AII c051$ are allocated between the expenditure Categories ol the SOFA on a basls designed to refleet the use of the resource. Costs relating lo a particular acllvity are allocated directly,. others are apporb.oned on an appropriate basis e.g. staff time or estimated usagé. 1.6 Tangible fixed assets Tangible fixed assets arè In¢luded 81 cost les$ accumulal¢d depreciation. Deprecia￿On ts provided at the following rates in order tr) write off as$els over thelr estimated useful lives.. Flxlures and fittings 15% ofeosl The gain or loss arising on the disposal of an asset 15 determined a5 the difference between the sak proceeds and the carrying value of the asset, and is reco9ni$ed in the slalement of financial activities. 1.7 Cash and cash equivalènts Cash at bank and hand Sncludes cash at cash haAdlin9 organisations Ihrough whlch the Charity ￿elVeS money- 1.8 Financial instruments The Charity only has financlal assets and financial liabill￿S of a kind ihal qualify as basK financial instrumenls. Basic financial instruments a￿ initially ￿cOgnised at transaction value and subsequently measured at their settlement value. Basic finaneral assets Trade and other debtors are recognised al the settlement amount due after any trade discounts offered. Prepayments are valued 81 the amount prepaid net of any trade discounts due. Baslc financial liabilities Creditor5 are recognrsed where the Charity has a present obligation ￿sUltIng from a past event that will probably result in the Iransfei of tunds to a third party and the amount due lo settle the obli9alion can be measured or estimated reliably. Credilors are normally recognised at their 5etUement amount afterallowing for ny trade discounts due. 1.9 Employee benefits The Charity recognlses termSnalion payments when it is demonstrably ¢ornmitted to either lil lerminaling thè employmènt of current employees acc+xding to a detailed fomial plan without possibllity of withdrawal or lill provlding termlnalion payments as a result of an offer rnade to encourage voluntary redLtrtdancy. 1.10 Retlremtnt benefits Payment5 to defined conlrsbulion retirement benefit scheme$ are tharged as an expense as they fall due. 1.11 Leases Rentals appllcable to operating leases Whe￿ 5ubslanlially all of the benefits and risk5 of ownorship remaln th the lessor are tharged against profits on a stralghl line basis over the period of the ￿aSe. 30

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting poli¢ies (Continuedl 1.12 Foreign ex¢hange Monetary 8ssets and fiabilities denominaled in foreign currencles are translated into slerfing al Ihe rates of exchange ruling al the balance sheet d3te. Transactions in forelgn currencies are recorded at the iale ruling at the dale ol the tran5a¢lion. All differen￿8 are tsken lo income and expense accounL 1.13 Prior period comparative figures For the year ended 31 March 2022 the charity quallfi6d as exempt from audit due to St's syie and those financial stslements were not audited. As a consequence, the Comparative figures In these finan¢ial ststemenls have not been audited. 31

0¢% opio ) ¢ry o ¢xJ y> o Ln<or o o) v

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Other Income Unrestricted Restricted funds funds Total Unrestricted funds 2023 2023 2023 2022 Royalties on books Sundry ineome Talk fees Event income 186 144 350 186 144 350 2.21S 770 455 2,215 680 2,215 2,895 1.225 Ralslng fvnds Restricted Restricted funds funds 2023 2022 un and ublici Fundraising Costs Staff costs 8.312 24,724 529 14.510 Fundraising and publicity 33,036 15,039 33,036 1S.039 33

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEWIENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities Restricted Restricted Expenditure Expenditure 2023 2022 Staff costs Hubs Heart Circle Trainin9 for Transition Inner Transition Tiansition Platforn7 vni¢ipalities in Transition Supporting Transition initiatives and regional support Transformative conflict progr3rnme Evaluation project Tran511ion Together project Costs Overseas freelance Contractor Website and IT Film costs Amplltying stories Nurturing collaboration 257.440 28,104 29,098 22,547 7,050 247.198 27,028 21,662 21.718 8,399 100,663 958 584 3,476 38,564 23.975 13.803 11751 168 240 97.917 24.731 11.357 2.037 435 481,124 507.853 Grant funding of 8ctivities Isee note 61 258,608 108,603 Share of support costs Isee note 7) Share of governance costs (see note 7) 14.282 18,657 11.865 5.772 772,671 634.093 34

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Grants payable Restricted Restricted Expenditure Expènditure 2023 2022 Grants lo instituuons.. Grants to Transition Hubs for International Work Reseau Transition- Hub5 co-ordinator Reseau Tiansilion- Hubs Heart circle govemance Tran511ion Netzwerk e.V. - Train and connect funding Specialists Scottish Communibe5 Climate Action Network- International network of Hubs group exploration of paid timè Transition Netzwerk e.V. Development of collaboration platform Red de Traa5iciOn- Local Transformation Toolkit Transition Brasil- Latin Ameri￿ Webinar Series Transition Ne12werk e.V. - Germanophone Territorles DeveJopmeAI Pr￿e$S Red de Transicion Spain - Tianslation proleet to support Transition movement Returned grants Grant$ for Transition Projèct- Growlng Infrastructure, Networks and Capacity for Transition In Britain Scottish Cornmunity'e5 Climate Action Neiwork- Parlnershlp on Tfans5tion Together Micro grants134 institutions) Partnership grants (2 institutions) Full grants126 institulions) Partial funding grant5 (8 institutions} 53,103 44.684 1.706 3.398 4,005 1,500 1,000 10.000 7.000 1.000 5.427 (2,5001 (7191 38.573 16,108 14,680 108.137 21,075 35.000 258,608 104,569 Grants lo indivlduals Student ald for Municipalities in Transition pla¢emenl 4.034 258,608 108,603 The 9rants for the Transibon Togethe¢ project arise where funds have been made available to be spent across the United Kingdorn. Paymonts are al the dtscretion of the funder and s￿ solely administered by the Charity. 35

. TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance cost5 Costs 2023 Support Governance costs costs 2022 Depreciation Travelling and subsistence Insurance, rent and rates Office expenses Human resOur￿S Paypal fees and bank charges Exchange differences 326 326 351 351 3,552 670 5.053 4.376 3,S52 670 5.053 4.376 985 2,564 6,705 1.198 985 2,564 6.705 1,198 305 305 52 10 52 io Audit f$e$ Accountancy Legal and professional Independent examination fees Statutory framework meetings 8.700 2,806 936 8.700 2,806 936 1.964 1.964 732 732 6,215 6,215 3.076 3,076 14.282 18.657 32.939 11,865 5,772 17,637 Analysed beknen Charitable activities 14.282 18.657 32,939 11.865 5,772 17.637 Govemance costs Includes payments to the auditors of £8.700 12022 £nill for audit lees, and to the independent examiner of £nil12022- £732) for extemal scrutiny. Fees payable lo the auditors l independenl examiner for other services were £1,53212022- £1.9641. Trustees None of the Trustees lor any persons connected with them) ieceived any remunèration or benefits frtjm the Charily durin9 the year12022 - £nil}. Two Trustees were reimbursed travetsing expenses in the year lotalling £33412022- £nil). Employèe5 Thè average number of staff In the year on a head count basis was '. 2023 Numb&r 2022 Number 11

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Employe*s Icontinuedl Employment co$ls 2023 2022 Wages and salaries Social security costs Other pension costs 258,580 18,361 5.223 240,432 16,070 5.206 282,164 261,708 Other pension c051s represent payments to a defined ¢onlribution scheme. There were no employees whose annual femuneralion was more than £60,000. rfo Taxatlo The charily is exempt from lax on income and galns falling wthln $ection 505 of the Taxes Act 1988 or 5edion 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these a￿ applied to Its eharitsble objects. 11 Tanglble fixed assèts Fixture$4nd fitlings Cost At 1 April 2022 Additions 4.727 270 At 31 March 2023 4.997 Depréeiation and impairfflent At 1 April 2022 Oeprecialion charged in the year 3,928 326 At 31 March 2023 4.254 Carylng amount Al 31 March 2023 743 Al 31 March 2022 799 12 Debtors 2023 2022 Amounts falling due within one year: Other debtors Prepayments and accrued income 5.760 5.764

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 Creditors: amounts falllng due withln one year 2023 2022 Not8$ Other taxation and social 5e¢urily Accruals for grants payable Trade creditors Other uedttors Accruals atKI deferred Income 5,707 13,604 3.858 2,172 18,834 18,730 20,388 1,269 24.735 65,123 44,175 38

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 14 Restricted funds The income funds of the charity include restr¢cted funds comprising the lollowing unexpended balances of donations and grants held on trust for specific purposes-. Restricted Funds Tiansilion Network BrSdging Year 2021 2022 (An anonymous Foundation) Purpose of funding Moving through reflection to the ¢Trdesi9n, resourcin9 and implementation of strategic inter¥enlions at the international level Scaling up, out and deep the Municipa￿l￿S in Transith'on System Buildin9 the capacity of Transitlon group$ 8¢ioss the UK. creating the conditions to enable furlher local experirnenlation, peer connectitsn and support. and cross-pollinalion of ideas An online Training for Tralners course Municipalits'es in Transition IKR Foundalionl ransition To9elher (The National Lottery Community Fund's Growing Great Ideas prograrnrnel Training lor Tiansition la Movement for Good award nominated by Ecclesiastical lnSLtran￿ OfFice plc and received frotn Charities Tiustl Tran5forrnalional Governance (Forum forthe Futurel Developing the inquiry into Yran5formalional Governance Acting as a charlly ¢onduit for a prol8cI to develop a vislon for allernatwe economics in a low-carbon world To further the work of the Transition Research NeLwork, an Informal nebNork to sUPPOrt resèarch To stimulate regenerah've change Real Economy Lab {Fondation Chades Léopold Mayer pour le Progrès de I'Hommel ransition Research Network Strengthening the anonymous Foundation) Transth'on Together (Ecolise Sparks) Mycelium Network IAn Implementation of Cl¥mate Outreach Training on rking with Councils lor regenerative ehange Movement in funds Incomlng Resources Balance at fesources expettded 1 April 2022 Movement in funds Incoming Resource$ Balance al resources expended 31 IAarch 2023 Balance at 1 April 2021 Transition Network Bridging Year 2021-2022 Munleipalilies in Transition Transition Together Training for Ttansition Transforfflatio nal Governance Real Economy Lab Transition Research Network 350,000 1350.0001 96.214 33,579 (129,893) 160,393 1160.4861 1931 911.829 1497.9311 413.805 10.000 11,650) 8.350 14.776} 3,574 7.103 (7,1031 5.8S7 5,657 5,657 3,164 3.164 13.000) 164

TRANSITION NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 R&stri¢ted furtds Icontlnuedl Strengthening the Myceliurn Network Transition Together (Ecolise Sparks) 300,000 1300.0001 1,025 1.025 105,135 561.075 {649.1321 17.078 1,212,854 1805,7071 424.225 15 Analysis of net assels between fund5 Unrestrlcted Restrlcted funds tunds 2023 2023 Total Unrestricted Restrhcted funds funds 2022 2022 Total 2023 2022 Fund balan¢es al 31 March 2023 are represented by.. Tangli )le asse15 Current assetsl{liabilities) 743 132.724 743 556,949 799 130,826 799 147.904 424,225 17.078 133.467 424,225 557.6g2 131.625 17.078 148,703 16 R8lat8d party transactions Hilary Jennlngs resigned as a Direclor at 15 November 2022 bul her reslgn81ion was not reported to Companies House until 1 February 2023. Services of £1,320 were supplied for September and October 2022 al open market value. Services of £2,310 were supplied for November 2022 to January 2023 again al an open market value. These transactions were approved unanirnously by the otherTru5tees. There were no other disclosable related party Iransa¢tions dursng tt)e year {2022- TrJne}. 17 Cash generated from operatlons 2023 2022 Surpluslldeficlll for the year 408,989 186.310) Adjustmen15 for. Depreciation and impalmient of tsngible fixed assets 326 351 Movements In working capital.. {Increagel in debtors Increaselldecreasel in eredilors Increase in deferred income 15.764) 15.822 6,126 121,1141 13,604 Cash genèrdt¥d fromllabsorbed byl opetations 424,499 193,4691 18 Analysls of chan9es in net funds The Charity had no debt during the year. 40