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2021-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

SYNCHRONICITY EARTH • REGISTERED CHARITY NUMBER: 1132786 AND COMPANY NUMBER: 06952204SYNCHRONICITY EARTH: ANNUAL REPORT 2021 | 1

Annual Report of the Trustees

from strength to strength. In 2021, Synchronicity Earth distributed £2.4 million (compared to £2.1m in 2020) to support 88 partners in 27 countries.

Foreword

Whilst COVID-19 continued to cast a long shadow into 2021, there were greater opportunities for key international events to take place that were important to produce much needed action on global biodiversity loss, such as the IUCN World Conservation Congress in Marseille, France and the COP26 Climate Summit in Glasgow, UK. The outcomes from COP26 were disappointing, but there was increased acknowledgement of the need to bring together action to halt climate change and work to address biodiversity loss.

Despite the continued challenges of COVID-19, particularly in the countries in which Synchronicity Earth funds, where availability of vaccinations has often been very limited and healthcare infrastructure varies widely, we have been consistently impressed by the determination, generosity, and resilience of the teams at the organisations we fund. The ongoing and inspiring work of our partners in some of the most challenging environments on Earth, the discussions we have been involved in, and the relationships we are cultivating, give us huge grounds for optimism. As an organisation, we are finding ever more common ground and alignment with other organisations, foundations and cultural leaders that are meeting the challenges of climate breakdown and nature loss head on.

Postponed from 2021, COP15 of the UN Convention on Biological Diversity is still to take place later in 2022 to agree the post-2020 framework to halt and reverse biodiversity loss. Similarly, the negotiations at the UN to agree a Global Ocean Treaty have moved into 2022. Both these agreements are crucial to protect our natural world for future generations. Many people across the conservation sector are working hard to achieve this and every day, the work of our partners contributes to the wide range of solutions that are needed and which provide reasons for hope.

Throughout 2021, we continued to strengthen our adviser network and took on new affiliates (regionally based consultants) to help us further develop our programmes and support our partners. Our approach is attracting greater interest – from foundations, family trusts, and corporate funders – and a pooled funding approach on specific programmes allows us to amplify the impact of our partners, whilst reducing the administrative burden they face.

For the Synchronicity Earth team, opportunities to gather, meet new members of the team in person and enjoy a bit more flexibility in ways of working together were embraced. We were able to continue to expand our funding to support fabulous organisations around the world and, despite the challenges posed by the pandemic, our core programmes continued to go

While the ongoing pandemic ensured that hosting and participating in face-to-face events remained a

Contents

Our year in numbers ............................................ 4 Conservation Programmes ................................ 16 Overview of our activities ................................... 5 Engagement ......................................................... 19 Our Approach ........................................................ 7 Strategic development and growth ................. 21 A range of approaches to achieve impact ....... 8 Statement of Public Benefit .............................. 23 Achievements and Performance ...................... 10 Independent auditor’s report ............................ 26 Financial Review ................................................. 12 Accounts .............................................................. 29

challenge, we pressed on with our work to help nurture and strengthen a groundswell movement to promote biological and cultural diversity. We have been working hard to create space for voices that are seldom heard at the top table of climate and biodiversity discussions by supporting their participation in events such as the IUCN World Conservation Congress and the COP26 climate conference. Through discussions, podcasts, and events imagined, curated, and co-hosted by our partner, Flourishing Diversity, we have engaged with diverse communities around the world as well as continuing to build relationships with UK-based arts and cultural organisations, philanthropy, and the conservation sector itself. With this work, the Flourishing Diversity initiative is bringing vital and timely messages into new spaces, helping the voices of Indigenous Peoples and local communities to be heard and acknowledged as critical to successful conservation solutions.

Internally, as an organisation, time was spent in 2021 refining our medium to long-term strategic goals to ensure these continue to reflect and drive our priorities in a world still getting to grips with COVID-19 and its economic and societal aftershocks.

2021 brought some changes in personnel, with Kirsty Schneeberger (CEO) and Katy Scholfield (Head of Biological and Cultural Diversity) moving on to new challenges. The year also saw changes in the leadership of Synchronicity Earth, as the decision was taken to move to a distributed leadership model with four Heads of departments (Conservation Programmes, Operations, Finance, and Communications) tasked with leading the organisation through its current phase of development and taking it forward. To support the new Senior Leadership Team (SLT), regular meetings take place between the Board and SLT to discuss key decisions and priorities.

As we go into 2022, on the back of a very successful year, we are bringing new capacity into the team, engaging more deeply with our adviser network to hone our longer-term strategic goals, and strengthening our engagement work to increase our impact across the conservation sector and beyond.

Vision

A world in which biological and cultural diversity are valued, celebrated, and flourishing.

Mission

We act to address overlooked and underfunded conservation challenges for globally threatened species and ecosystems.

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Our year in numbers

INCOME

FUNDING

Increased income to £4.2M Diversified sources of funding corporate donors +10 + 4 foundations Increased support from donors 28.9%

Increased funding received via our pooled funding approach +72%

Increased programme funding to £2.4M supporting 88 partners in 27 countries

Core support 38

partners received organisational development support

PARTNERS

TEAM PARTNERS Expanded our Advisory Board to include Increased number of partners members with a broader range of experience 11 +25 Delivered Safeguarding training to Employed five new team members with expertise in our key focal regions partner organisations in four languages, over seven workshops 43 Partners brought together to 4 +1 collaborate and participate in Affiliates new full Mini-Congress in Kinshasa time staff member ~~8~~

partner organisations in four languages, over seven workshops Partners brought together to collaborate and participate in Mini-Congress in Kinshasa ~~8~~

Overview of our activities

In 2021, we launched our Biocultural Diversity Programme (previously called the Flourishing Diversity Programme), taking on a new staff member based in Papua New Guinea to run and develop the programme. We also refocused and expanded our marine work, creating a new Ocean Programme to incorporate greater support for overlooked species and ecosystems and more targeted support for coastal community-based marine conservation. We continued to develop our More than Carbon initiative to source more funding from finance sector businesses looking to make a positive environmental contribution as part of their net-zero commitments, receiving further funding from two long-term donors and scoping new partners to include in the initiative.

Conserving biological diversity

Our principal objective as a UK-based, globally focused environmental charity is to support and promote work to protect and restore biological diversity. We focus on areas of high biodiversity, primarily in the tropics, which suffer from a lack of support and low levels of philanthropic funding for species and ecosystem conservation, as well as policy and data needs that contribute to protecting those areas. Since our founding in 2009, Synchronicity Earth has developed six core programmes, based on rigorous research and analysis, tapping into a wealth of advice and experience from a broad network of advisers around the world. our programmes focus on: Amphibians, Asian species, biocultural diversity, the Congo Basin, freshwater, and the ocean.

Despite the ongoing challenges of the pandemic and the impact these had on many charities and their grantees, Synchronicity Earth continued to grow, meeting its objectives for the year: increased income; a greater number of multi-year grants providing more funding to a greater number of partners; and an increase in core support and/or organisational development for many of our partners.

With the support of a growing network of advisers and affiliates (regionally-based consultants) to help steer the work of our research team to develop our programmes, identify partners and strengthen relationships, we continue to grow our understanding of the challenges and needs in each programme area.

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The bonobo, humankind’s closest living relative, a species that Congo Basin Programme partner Mbou Mon Tour is working to protect

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Championing effective approaches

Trusting relationships with conservation partners are the bedrock of our funding approach and drawing on these relationships and the knowledge and experience they bring constantly improves the support we provide. This support recognises that there is no one right way to achieve impact: the approaches our partners take and the nature and level of support and funding they need is highly contextual, depending on multiple cultural, economic, and social factors. We have found that the most effective approaches are often those based on local, community-based knowledge and expertise, supported by robust conservation research, and underpinned by strong, long-term relationships.

As our capacity to support and fund conservation in areas of high biodiversity has grown, our approach has attracted increasing attention from a range of other funders looking to benefit from our experience and the relationships we have cultivated with partners on the ground in often hard to access regions.

2021 was a year in which the voices of Indigenous Peoples and Local Communities (IPLCs) began to be heard more loudly within conservation circles. A raft of new funding pledges aimed at channelling money to a greater number of smaller groups and alliances led by IPLCs was an encouraging sign of a growing shift towards a less Western-dominated, top-down approach to protecting and restoring nature. Throughout the year, and as we go into 2022, we are prepared to play our part in supporting approaches that recognise and promote the foundational and central place of IPLCs in protecting and restoring nature.

Seeing the bigger picture

Conservation does not take place in a vacuum. The destruction and degradation of nature and increasingly dramatic impacts of climate change being seen across the world are symptoms of the disconnection of many people and societies from the nature they rely on. There are myriad contributing factors, but there is an urgent need to better understand our own place in – and dependence on – nature.

A long-term goal for Synchronicity Earth is to contribute to building a stronger movement to cultivate greater engagement and understanding of biological and cultural diversity. We explore how and where we can

Members of Synchronicity Earth partner Hutan’s reforestation team

have influence, convening conversations amongst stakeholders across different sectors and disciplines to raise awareness and catalyse action towards promoting human health and wellbeing within a broader context of ecological health and resilience.

Our focus on engagement complements and reinforces the core conservation work we support through our programmes. We put our energy into working within those spaces where we believe we can have most influence: the finance sector, philanthropy, the arts and other creative industries and the conservation sector itself. We recognise that without culture change and more nature-centred economic and development models, protecting and restoring nature on the ground where it is most diverse and most threatened, whilst beneficial in the short term, will never be enough to bring about the profound systemic changes required.

More funding, better conservation

Despite rising steadily in recent years, the amount of philanthropic funding devoted to environmental issues remains surprisingly low. Increasing the volume of funding flowing to global conservation and diversifying the sources of that funding is a core objective of Synchronicity Earth, with a particular focus on growing funding for conservation challenges which have historically been less well supported. In 2021, we attracted new sources of funding for our programmes, including ten new foundations and trusts and four new corporate partners. We also increased the amount and scope of our ‘pooled funding’, formally establishing a new pooled fund for Amphibians. This is fast becoming one of the world’s largest funds for this overlooked and highly threatened group.

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Our Approach

partners. During 2021, we strengthened our network of key experts to include 11 advisers and five affiliates (expert consultants based in or from regions in which we work), who help to inform our work and play a key role in identifying new partners and supporting them in their work.

We provide funding and additional support to over 80 organisations (partners) that have been carefully selected due to their role in addressing critical overlooked and underfunded conservation challenges, as well as hosting and facilitating new and innovative alliances and providing key coordination roles. In addition, we play an important advisory role for other philanthropists by coordinating funding to the ground and advising on the most impactful places for their funding.

Our pooled funds enable donors to co-fund work and thereby create a ‘win-win’ situation for both donors and grantees. For grantees, this reduces time fundraising and completing paperwork and provides opportunities to collaborate and learn from others. For donors, meanwhile, pooled funds can help overcome barriers to identifying and funding conservation in regions that are less well-known, where there may be a lack of capacity to carry out research or high administration costs associated with providing multiple small grants. Our pooled funding approach increases collaboration and shared learning and provides greater and more consistent support for grantees.

Alongside our focus on supporting local organisations, we also fund work to strengthen scientific knowledge, evidence, and policy to build the case for better decision making and more informed choices.

Synchronicity Earth has been locating and funding small local organisations since 2012, using bespoke due diligence and research processes. We apply our key values of trust, openness and inclusion, backed up with rigorous science and local knowledge, as well as continually reflecting on and adapting our approach so that it is fit for purpose.

We look forward to continuing to expand this approach in 2022 so that our collective impact can grow.

Our research team (now six staff) helps us identify, provide organisational support to, and monitor

Synchronicity Earth Latin America Affiliate, Grace Iara Souza, speaking at the IUCN World Conservation Congress in Marseille

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2

A range of approaches to achieve impact

There is no ‘one solution’ to conservation, so Synchronicity Earth supports a wide range of complementary approaches:

2 Platforming & convening our partners 1 SHOAL (UK)

3 Supporting Indigenous rights and cultures Synchronicity Earth is proud

4 Saving species on the brink to host Shoal, a young and ambitious organisation which

5 Addressing drivers of biodiversity loss coordinates and develops

6 Community-based solutions conservation action for freshwater species and ecosystems. As well as

7 Supporting vital research core support for staff salaries, as a host organisation, we consider Shoal’s staff as part of our own team and share reso ~~urces~~ to lighten their administrative burden. HIGHLIGHT 5 6 SHAREACTION (UK) INSTITUTO As part of the Synchronicity JURUÁ (BRAZIL) Portfolio, ShareAction aims to improve corporate behaviour on Instituto Jurua works with environmental, social, and governance community leaders and issues. In 2021 we supported the local associations along the development of ShareAction’s Juruá River, in the heart of Brazil’s Amazon rainforest. As well as engagement with fishing Biodiversity Programme to get greater engagement on biodiversity issues in communities, the Freshwater Programme the finance sector, following has supported Instituto Juruá’s land purchase of what will become Brazil’s first private on from the biodiversity scoping report we community-based protected area. funded in 2020. 3 FUNDACIÓN PACHAMAMA (SOUTH AMERICA) The Biocultural Diversity Programme supports several alliances uniting regional and national Indigenous networks, such as Fundación Pachamama, which works to permanently 2

The Biocultural Diversity Programme supports several alliances uniting regional and national Indigenous networks, such as Fundación Pachamama, which works to permanently protect the headwaters and Indigenous territories in the Ecuadorian Amazon. In 2021, supported by the Biocultural Diversity Programme, Fundación Pachamama was able to build the capacity of networks in Ecuador and Peru to protect their lands, livelihoods, and cultures.

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CONGO BASIN PROGRAMME
PARTNERS (DEMOCRATIC
REPUBLIC OF CONGO)
Led by our in-country affiliates, eight of our
partners came together in Kinshasa to
follow a selection of online sessions from
Marseille, vote in the IUCN election and
motions, hold their own discussions,
and strengthen their network.
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IUCN (MARSEILLE)

We supported the costs for staff from two partners to attend the Congress in-person. In Marseille, members of our team voted on behalf of eight partner organisations that could not attend, and we also sponsored three IUCN motions regarding the post-2020 global biodiversity framework, Indigenous Peoples’ and local communities’ rights, and a moratorium on deep-sea mining. We were also the lead advocates on a motion to protecting the Lower Congo River from large hydro-electric dam developments.

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7
IUCN (ASIA,
GLOBAL)
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As a small but strategic environmental funder, we aim to focus on underfunded areas of work which often have great impact, such as funding research which will underpin conservation work for the next few years. In 2021, we provided funding for an analysis of the impact of biomass fisheries (i.e., unselective trawl fisheries) on Asian marine systems which will be published in 2022, as well as an assessment on the conservation status of freshwater species around the globe. Our support contributed to the delineation of 69 Key Biodiversity Areas for freshwater species.

1 MISA (MADAGASCAR) In 2021, an Amphibian Fund grant was used to establish a new organisation in Madagascar, Miaro Ny Sahona (MISA). It was founded and led by Malagasy herpetologists and scientists, along with an international team of advisors, aiming to create a much-needed amphibian conservation hub for Madagascar.

5 AFRICAN FOOD SOVEREIGNTY ALLIANCE (CONGO BASIN)

Supported by the Congo Basin Programme, the African Food Sovereignty Alliance (AFSA) conducted an analysis of current policies related to food systems in Cameroon, alongside participatory dialogues with key actors, and a public consultation.

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SAOLA FOUNDATION (LAO PDR)

The Saola Foundation has launched an intensive search programme to find the ‘Asian unicorn’, an elusive bovine species which vanished in 2013. The Asian Species Programme funded the salary of the Lao Programs Director (Chanthasone Phommachanh, ‘Olay’). Synchronicity Earth also helped produce the foundation’s 2020 Annual Report and part-funded a short film by the BBC Natural History Unit featuring Olay.

4 PROJECT PALAKA (PHILIPPINES)

The Gigantes forest frog is a Critically Endangered species unique to two of the remote Islas de Gigantes of the Philippines. This called for an urgent exsitu breeding programme to safeguard these species and in 2021, Project Palaka was able to bring 21 adult frogs into captivity - all are still thriving, and some males have begun to call for mates.

3 AILAN AWARENESS (PAPUA NEW GUINEA) The Biocultural Diversity Programme has supported a project revitalising the cultural practice of ‘Malagan carving’, a type of wood carving produced by local Indigenous Peoples that communicates the symbiotic relationship of traditional ways of life with the natural world, strengthening local community support for conservation.

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Achievements and Performance

few years, knowledge and good practice has been widely shared and disseminated within the philanthropic community and partners working on the ground have benefitted from consistent support for their work. One key highlight of the work this year has been the passing of a new law in the Democratic Republic of Congo to protect the rights of Indigenous Peoples, after many years of tireless advocacy from our partner Dynamique des Groupes des Peuples Autochtones (DGPA), alongside others.

Our Programmes

2021 saw continued expansion and growth in our core programmes. A successful fundraising year allowed us to increase our programme funding to £2.4 million (an increase of £0.3m, or 13 per cent compared with 2020), reaching 88 partners in 27 countries around the world. We began supporting 25 new partners this year, adding significant conservation capacity to our Amphibian and Biocultural Diversity programmes, and continuing to identify and support effective local partners in all our other programmes. The expansion of our affiliates model whereby we work with regional consultants in some of our focal areas has boosted our capacity to understand key challenges and needs and identify and work more closely with new partners.

In February, we launched our new Biocultural Diversity Programme. Led by Miriam Supuma, our new Programme Manager based in Papua New Guinea. This programme now supports 16 partners working in South America, Africa, Asia and Melanesia to defend Indigenous and community Territories of Life and protect and revive biocultural diversity. 2021 was a landmark year

This year we also began to see significant benefits from our Monitoring, Evaluation and Learning framework, led by our Knowledge and Learning Manager. This work has allowed us to better understand not just our organisational impact and that of our programmes but is also helping our partners to consider their own conservation impact, and how that can be measured and communicated effectively to funders and peer organisations.

For amphibians, Earth’s most threatened group of vertebrates, the creation of the Amphibian Conservation Fund in 2021 provided a huge boost to our capacity to fund work to tackle the amphibian extinction crisis on the ground. The Fund has already supported the launch of six new organisations and initiatives in some of the most biodiverse regions on Earth.

Through our Asian Species Programme, we continue to support 11 partners working to protect species and their habitats in a region of extremely high biodiversity facing multiple threats. This year we have been continuing our work to help develop their organisational capacity to increase impact on the ground.

Our Congo Basin Programme has blazed a trail in demonstrating the effectiveness of a pooled funding approach for funders and grantees alike. Funding for the programme has grown consistently over the past

In 2021, we welcomed Miriam Supuma to our team to lead our Biocultural Diversity Programme

in terms of the strength of Indigenous Peoples’ presence and voices on the world conservation stage at events such as the IUCN World Conservation Congress and the COP26 climate summit in Glasgow.

Another exciting development this year was the expansion of our High and Deep Seas Programme into a broader Ocean Programme, incorporating overlooked and underfunded marine species and ecosystems and community-based conservation initiatives. Despite this broadening of scope, the programme continues to champion important advocacy and policy work, particularly for the protection of the high and deep seas.

Meanwhile, our Freshwater Programme has continued to support vital yet underfunded work to identify Key Biodiversity Areas for freshwater ecosystems. Funding also supports local efforts to protect freshwater turtles and improve fishers’ livelihoods as well as supporting advocacy work for the Rights of Rivers. Our hosted partner, Shoal, which sits alongside our Freshwater Programme, further developed its partnerships, leading a successful ‘Search for Lost Fishes’ campaign, catalysing support for new conservation projects to protect freshwater fish and contributing to a landmark report – “Forgotten Fishes” - published with WWF and 14 other conservation organisations.

Alongside the development of each programme, we have been working hard to identify the leverage points that cut across all our programmes and broader work. These cross-cutting themes include: gender equity and female empowerment; organisational development to build expertise and skills within local partners; helping to link local action to global decision-making and policy; social and environmental justice; and diversity, equity and inclusion. We have made strides to address some of these key themes both with our partners and internally. For example, with our partners we supported training for women in Leadership positions in our Congo Basin and Asian Species Programmes. Internally, we are working to adapt our recruitment practices to ensure a more inclusive approach, as well as working with organisations who work solely on developing good practices around diversity and inclusivity.

Engagement

The pandemic has had a profound impact on charities, both on their ability to raise funds and implement their programmes and on their capacity to hold events and engage with their donors and supporters. As restrictions

Patrick Saidi Hemedi, National Coordinator of DGPA

were imposed, lifted then reimposed throughout the year, putting on, convening, or attending in-person events remained extremely challenging. Despite these difficulties, Synchronicity Earth was able to make important contributions, both in person and online, at two significant gatherings in 2021: the IUCN World Conservation Congress in Marseilles in September, and the COP26 climate conference in Glasgow in November.

Having supported the operations of the Flourishing Diversity initiative throughout 2021, it was wonderful to see how their team delivered a wide range of online events embracing Indigenous culture, working with other cultural organisations, such as Invisible Dust and the British Library. The slowdown in face-to-face events, combined with increasing understanding of the strengths, weaknesses, and opportunities of virtual events, has given us time to reflect on our future engagement strategy. Part of this work has involved refining our Theory of Change for engagement, and as we go into 2022, we are looking to expand our activities and fully embed the Flourishing Diversity initiative into our work and strategy.

Another route to support engagement on biodiversity continues to be through our Synchronicity Portfolio. This year we continued its three strands exploring systems change, communicating biodiversity loss and highlighting brilliant people and projects working to reverse it, as well as focusing on the role we can play to promote greater Equity, Diversity and Inclusion in the conservation sector.

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Financial Review

An overview of our income

Despite the continuation of the global pandemic and the associated difficult economic conditions, our investments in fundraising and operational infrastructure in 2020 allowed us to deliver an impressive set of results for 2021.

Our income from charitable activities grew to £4,283k in 2021 from £3,328k in 2020, an increase of 28.7 per cent, at a time when many organisations in the charitable sector continue to face real financial difficulties. Our growth came through increased restricted donations to specific programmes and the endowment funds, whilst unrestricted income remained steady.

Our fundraising streams are well diversified as shown in the chart below:

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26%
27%
15%
25%
6%
1%
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Corporate Foundations Other
and trusts
Individuals SE USA Synchronicity
Foundation
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We remain extremely grateful to our committed donors who have supported us for many years, and to new donors who have joined our network in recognition of the positive impact our funding has.

Income restricted to Programmes increased to £2,737k in 2021 (2020: £1,874k) an increase of 46 per cent. This reflects the success of our pooled funding approach which is now well established for the Congo Basin and Amphibian Programmes, and we will continue to develop this funding model in 2022.

Our Endowment funds, Synchronicity Earth Living Fund (Unrestricted), Amphibian Fund (Restricted) and Ape Fund (Restricted) received further donations totalling £253k during the year (2020: £200k). These funds are invested, creating long-term annuity streams to support conservation work and are an important part of our strategy to provide organisations with the funding they find hardest to raise, namely, support for their core operations.

Unrestricted funding for 2021 was £1,293k, a modest increase on the 2020 amount of £1,254k. We continue to benefit from the very generous support of the Synchronicity Foundation. Unrestricted funding from the Synchronicity Foundation has grown from £869k in 2020 to £1,147k in 2021 and covered our core operational costs. This provides a sound financial base and enables us to continue with our independent, research-driven approach to funding.

An overview of our conservation programme funding

Expenditure on Charitable Activities in 2021 was £3,173k (2020: £2,840k), which was a 12 per cent increase from 2020. Of this spending, £2,424k was given as programme funding compared to £2,139k in 2020, representing a similar percentage increase. In addition, restricted income funds at year end totalled £1,712k (2020: £784k) and will be paid out as programme funding during 2022 and 2023, thanks to more multi-year donations received.

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12%
19%
7%
9%
16%
15%
11%
11%
Amphibians Congo Basin More than Carbon
Asian Species Freshwater Synchronicity
Biocultural Diversity Ocean
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Conservation funding for our programmes was as follows:

Amphibians £463k (2020: £349k)
Asian Species £387k (2020: £231k)
Biocultural Diversity £260k (2020: £283k)
Congo Basin £260k (2020: £517k)
Freshwater £358k (2020: £269k)
Ocean £213k (2020: £323k)
More than Carbon £182k (2020: £92k)
Synchronicity £297k (2020: £53k)
General £4k (2020: £22k)
Total £2,424k (2020: £2,139k)

A detailed table of our grant funding by organisation and programme is given in note 3 to the financial statements on pages 36-39.

During 2021, through our collaborative approach, Synchronicity Earth was instrumental in helping partner organisations secure funding of approximately £3.6m (2020: £115k) from other sources. We see this as a fundamental part of our role, introducing other funders to the organisations we partner with and generally raising the total amount of funding for the sector.

600

Funding by Programme over the last 3 years (£’000s)

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2019 2020 2021
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0
Amphibians Asian Biocultural Congo Basin Freshwater Ocean More than Synchronicity Other
Species Diversity Carbon
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500
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400
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300
200
100
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Amphibians Asian Biocultural Congo Basin Freshwater
Species Diversity
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Our Endowment funds

We will continue to build our Synchronicity Earth Living Fund, Amphibian Fund and Ape Fund over the coming years, as we seek to secure the long-term funding for conservation challenges that annuity income from such funds can deliver. The Durrell Fund will continue to support the work of Durrell Wildlife Conservation Trust in saving Critically Endangered species. During 2021, we distributed a total of £224k from the endowment funds to partners: £109k from the Ape Fund, £75k from the Amphibian Fund and £40k from the Durrell Fund. The Synchronicity Earth Living Fund is unrestricted and investments in this fund will provide a substantial buffer against unforeseen future circumstances and adverse events and provides additional funding for programme partners.

The endowment funds for the Ape, Amphibian and Living Funds are invested in the Aurum Synchronicity US$ Fund, which has produced annual growth for 2021 of 9.13 per cent (2020: 14.10 per cent). The Durrell Endowment Fund is invested in the Aurum Synchronicity GBP Fund, which has produced annual growth for 2021 of 8.9 per cent (2020: 13.23 per cent). We are delighted with the returns on our investments, particularly in view of the difficult economic conditions experienced in 2021. Furthermore, the additional funds generated by these investments are available for distribution to partners, thereby boosting our impact.

The value of each endowment fund, including amounts held in cash and net of programme funding granted, as at 31 December 2021 is as follows:

Reserves Policy

The Trustees have examined the Charity’s requirement for resources in light of the main risks to the Charity. Having considered the income flows of the Charity and the commitments of the Charity to its grantees, the Trustees consider it prudent to retain the equivalent of three months’ non-discretionary operating costs in free reserves.

At 31 December 2021, £526k (2020: £412k) are regarded as free reserves and represent more than three months’ non-discretionary operating costs, set as our target reserves. The excess of free reserves over target reserves will be retained to make grants in accordance with the Charity’s charitable objects and policies throughout the year and to provide a cushion against unforeseen events. The impact of the global pandemic has highlighted the importance of building and maintaining reserves. In addition to the Unrestricted Income Fund, the Charity also has an Unrestricted Expendable Endowment Fund – The Synchronicity Earth Living Fund, totalling £425k (2020: £340k) which can be used for any purpose at the discretion of the Trustees.

The Trustees consider that the freely expendable funds are appropriate and adequate taking into account plans for programme funding to be awarded in future. The Trustees review this policy at least annually as part of the risk management process.

Carbon Emissions

Estimated Kilograms of CO2e emissions by Synchronicity Earth between 2018-2021.

2018 2019 2020 2021
Offce 2135 1097 1010 747
UK Travel including 2898 5263 831 1088
staff commuting
International Travel 38714 47653 6204 463
TOTAL 43747 54012 8045 2298
kg of CO2e per 0.027 0.017 0.002 0.001
£ (Total Income)

Synchronicity Earth measures the carbon emissions for its business activities. These fall into three main areas; office and general business activity (i.e. the electricity required to power our office, which is generated from renewable sources), UK Travel including staff commuting to the office, and International Travel. Once data on activities have been collected, the UK Government Guidelines and Conversion Emission Factors are applied to calculate the GHG Emissions for the organisation and reported as Kilograms of CO2e.

heating due to the pandemic. Our UK travel in 2021 increased slightly in 2020 due to the office being open for several weeks but with hybrid working set to stay, it is unlikely we will return to pre-pandemic levels. International Travel in 2021 was low, with a few international conferences attended by staff. In addition, where possible staff chose to take international trains over air travel.

GHG Emissions = Activity Data (i.e. km travelled, kwh electricity used) x Emission Factor

In order to ‘normalise’ our emissions data and allow comparison year on year against growth, Synchronicity Earth has chosen to use our Total Income as a Normalisation Factor.

Between 2018 and 2019 we were already reducing our emissions per £. In 2020, due to the pandemic resulting in restrictions on travel and the Synchronicity Earth office being largely closed to staff, our emissions dropped significantly.

As part of our commitment to our ecological footprint we will continue to strive to reduce our carbon footprint through reducing our travel and as noted elsewhere in this report work with local in-country affiliates to support us in our partner management.

In 2021 our office emissions remained low due to continued lockdowns and hesitancy to use indoor

As well as supporting work to protect ecosystems such as tropical forests, Synchronicity Earth looks to reduce its own carbon emissions.

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Conservation Programmes: some key achievements

Asian Species Programme:

Amphibian Programme:

HIGHLIGHTS:

HIGHLIGHTS:

35 hectares of amphibian habitat being restored by SE partners

2,367 people participating in environmental education, advocacy initiatives, or campaigns for the conservation of Asian Species

29 people trained in amphibian identification and monitoring

51 Asian species monitored and protected

USD 168, 274 directly supporting salaried staff

95,633 ha protected from destructive activities

39 threatened or data deficient amphibian species monitored or protected

Supported the launch of six new organisations or initiatives for amphibian conservation

Biocultural Diversity Programme

HIGHLIGHTS:

The Biocultural Diversity Programme supported 16 partners in 2021.

85 Indigenous communities involved in reviving biological and cultural integrity

156 territories registered as community forests for Indigenous Peoples

257 local and Indigenous people trained in sustainable livelihoods and biodiversity management

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Congo Basin Programme:

Freshwater Programme:

HIGHLIGHTS:

HIGHLIGHTS:

195,356 hectares of forest covered by participatory mapping

14 local communities supported to protect rivers, lakes and wetlands

160,006 hectares secured as 11 community forests for local and Indigenous people

69 Key Biodiversity Areas were delineated for freshwater species

Living River Association started working with ten villages to design and implement Southeast Asia’s first Otter Conservation Zones

8,600 local and Indigenous people trained in sustainable livelihoods and biodiversity management

IUCN Freshwater Conservation Committee drove greater freshwater engagement and ambition at the World Conservation Congress in Marseille, which for the first time ever hosted over 50 freshwater events. These brought experts from all across the globe together to discuss solutions to the freshwater biodiversity crisis.

Ocean Programme:

HIGHLIGHTS:

57 students, including 11 ‘at risk’ young men, were involved in environmental education programmes run by Korero O Te `Orau in the Cook Islands.

Deep Sea Conservation Coalition campaign calling for a moratorium on deep-sea mining supported by five companies (including BMW and Google), five banks and financial institutions, five bodies in the fishing sector, two parliament groups, 20 high profile figures (including Sir David Attenborough and Dr Sylvia Earle), dozens of civil society groups, several hundred prominent marine scientists, and most recently the International Union for Conservation of Nature.

171 new reports and communication materials were produced with the support of Synchronicity Earth in 2021 to inform stakeholders on various aspects of marine conservation, from policy briefings on elements of the High Seas Biodiversity Treaty to peer-reviewed journal articles on the importance of mid-water fish populations.

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developing new ones. We are also looking at how we can help our partners estimate carbon sequestration, whilst also showing the myriad benefits for species and communities that ensure longevity, resilience, and truly nature-positive outcomes (for nature, climate, and people).

More than Carbon

OUR APPROACH

Earth’s ecosystems, from tropical forests to the deep ocean, are extraordinary stores of carbon. The destruction of these habitats generates huge CO2 emissions and destroys the delicate ecological balance bringing humans into greater proximity and conflict with wild animals. Much of the work we fund is focused on protecting and regenerating natural systems – not only forests, but also mangroves, seagrasses, peatlands, wetlands, and the soil itself – our planet’s ‘green infrastructure’ which helps regulate our climate and maintains a healthy ecological balance. We believe that protecting biodiversity itself – the diversity of species, ecosystems and the genetic diversity that underpins them – is the most effective way to ensure a liveable Earth for all.

In the meantime, we have renewed support from two long-term donors: a UK-based investment firm that has committed to continue to support the Tesoro Escondido Reserve in Ecuador through a five-year commitment, and a US-based investment firm that has increased its support four-fold. This donation has been critical as it enabled us to match-fund a pledge from an individual donor in support of an approximately 20,000 ha land purchase of a pristine area of the Amazon, Brazil.

The More Than Carbon initiative is currently supporting four partners (in Ecuador, Brazil, South Africa, and Malaysian Borneo) primarily focused on terrestrial biodiversity protection and regeneration of forests, with a small project on wetland regeneration. We plan to continue to diversify the partners supported through the More Than Carbon initiative to include, for example, those working on wetlands (including carbon rich peatlands) and marine ecosystems (such as seagrasses and mangroves).

2021 has been a year of transition for our More Than Carbon initiative. Much attention was dedicated to building the case for the holistic and locally-led approach of our partners at a time when voluntary carbon markets continued to grow rapidly, along with potential pitfalls. We are continuing to refine our approach, drawing on capacity and expertise within the team, building on the relationships we already have with finance firms and

Mapping the conservation landscape, Instituto Juruá

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Engagement

Our engagement work has the following overarching goals: • A conservation sector that is based on equitable principles, welcoming to all, and better equipped to address high priority and neglected conservation issues.

• A broader and stronger (cultural) movement for nature, promoting biological and cultural diversity. • A greater level of flexible and long-term funding for conservation from a more diverse range of sources.

In the same way that our conservation programmes embrace a diversity of approaches and strategies to achieve their objectives, we look to engage in different ways across multiple spaces and sectors to grow awareness and action to protect biodiversity and promote a more sustainable relationship with the natural world.

We explore how to better engage, support, and elevate youth voices, ideas, and visions and how we can help bring more equity, diversity and inclusion to the conservation sector. A vital focus of our work involves learning how to support local communities and Indigenous Peoples, so we listen and create space to share insights. We collaborate with a range of aligned media platforms and producers to share the successes of our partners and create shared learning, so that the wider conservation and funder sectors can benefit. We kickstart, convene and participate in critical conversations that are shaping not only how we do conservation, but how we do much more of it, whether in global forums, or in hosted discussions with our networks. Through our engagement work, we are a bridge to a multitude of diverse, global projects, that are worthy of much greater support and attention.

Engaging in conservation and policy forums

In early September, Synchronicity Earth participated in the International Union for Conservation of Nature World Conservation Congress (IUCN WCC), held in Marseille. The IUCN WCC is the world’s largest conservation convening, taking place every four years. Taking part in this event online, as well as in person, meant that we were able to ensure that a broader range of stakeholders’

voices were heard. Having in-person representation at the Congress meanwhile allowed us to vote on crucial IUCN motions (which aim to set the agenda and priorities for the IUCN and help steer global conservation policy) on behalf of conservation partners unable to attend themselves.

Synchronicity Earth co-sponsored motions on a variety of vital issues, including recognising and supporting Indigenous Peoples’ and local communities’ rights and roles in conservation, and protection of deep-ocean ecosystems and biodiversity through a moratorium on seabed mining, both of which were adopted. In addition, we were proponents for new and urgent motions, including a motion on the Grand Inga Dam Project development, which was also adopted.

Attendance at the Congress also meant we could play a pivotal role in creating and facilitating two ‘pavilions’ (debate and event spaces running throughout the Congress). Flourishing Diversity (see below) was a founding partner of the Reimagine Pavilion, alongside the host country France and two IUCN Commissions (CEC and CEESP), which

Dr Bihini Won wa Musiti, Synchronicity Earth Congo Basin Affiliate, speaking to the media at the Mini-Congress in Kinshasa

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ran throughout the Congress and explored how to further embed Indigenous and community-based approaches across conservation. Synchronicity Earth also partnered with the Reverse the Red Pavilion, hosted by the IUCN Species Survival Commission, showcasing how IUCN Red List data can power greater action to save species. Both pavilions presented case studies of successful initiatives to protect and restore nature, bringing together a diverse range of voices and experience for panel discussions, events, and creative collaborations.

At the same time, we worked remotely with our grantees – mostly small, local conservation groups and alliances – in the Democratic Republic of Congo to deliver a successful ‘Mini-Congress’ in Kinshasa. The event was a huge success, with partners coming together to present their work and successes, discuss common challenges and engage together remotely with other conservationists attending the Congress in Marseille. As a result, they have committed to creating a new DRC-based IUCN National Committee.

Creating space for Indigenous voices

Flourishing Diversity, an initiative co-created and hosted by Synchronicity Earth, aims to help deepen understanding among predominantly Western audiences of the profound connections between biological and cultural diversity and the role we can all play in helping this diversity to flourish. Flourishing Diversity, spearheaded by Synchronicity Earth Co-Founder, Jessica Sweidan, played an important convening and hosting role, both at the IUCN WCC and at the COP26 Climate Conference in Glasgow in November, at which the aim was to amplify messaging and awareness around the role of securing Indigenous land rights and sovereignty to contribute to climate justice. Alongside model, actress and climate author Lily Cole, Flourishing Diversity organised two Indigenous ‘Listening Sessions’ at COP26, one of which included HRH Prince Charles, to ensure that communities protecting territories of life and biodiversity that were not included in the negotiations inside the Conference would nevertheless have their voices heard.

Building conservation narratives: The search for lost fishes

Inspired by the success of the ‘25 Most Wanted Lost Species’ campaign that was run by Re:wild, Shoal launched the ‘Search for the lost fishes’ campaign. The aim was to inspire public enthusiasm for 10 extraordinary species of

freshwater fish, each with their own unique story, which have not been seen for more than 10 years. Not only did this campaign stir a great deal of excitement about these forgotten fishes (the ‘Lost fishes art challenge’ received 320 artwork submissions and the winners were exhibited in the Oxford Museum of Natural History in collaboration with Conservation Optimism) but one of the species has already been rediscovered. A Turkish research team rediscovered populations of the Critically Endangered Batman River loach in two streams in south-east Turkey, the first time the tiny fish has been seen since 1974.

Accelerating change: Our Synchronicity Portfolio

Our Synchronicity Portfolio supports:

• Nature champions in business, finance, the creative industries, and philanthropy to do more to protect and restore nature.

Many of the partnerships in this portfolio have developed organically based on existing relationships or involvement with collaborative projects, such as the Resurgence Trust – an environmental educational charity with a global reach through the Resurgence & Ecologist magazine and The Ecologist website. Some of the Synchronicity Portfolio partners also extend across strands, such as Conservation Optimism, which is focused on improving conservation storytelling whilst also building their ConservationNOW initiative to build networks for communications training, mentorships, and other forms of outreach. Unrestricted funding enables us to support important work which will create a more inclusive conservation movement to have greater reach and impact.

Synchronicity Earth is also a proud member of the Environmental Funders Network, which is carrying out important research into environmental philanthropy (such as their latest report on Where the Green Grants Went) and engaging with trusts, foundations, and individuals to increase the financial support that is available to environmental and conservation causes. They are also working to ensure that philanthropic giving is as effective as possible through collaborative and complementary approaches.

Strategic development and growth

Organisational development

Monitoring, Evaluation and Learning (MEL)

In March 2021, CEO Kirsty Schneeberger left Synchronicity Earth to take on new challenges. We would like to thank Kirsty for her contribution to the development of Synchronicity Earth during what was an extremely challenging period. We also saw our Head of Biocultural Diversity, Katy Scholfield, move on to a new position at Arcus Foundation, as Director of Strategic Grantmaking (Great Apes and Gibbons Programme). Katy played a critical role in our development, helping to shape and inform our approach and priorities. We are delighted that Katy continues to offer her advice and experience as a Synchronicity Earth Adviser. The year also saw changes in the leadership of Synchronicity Earth as the Senior Leadership Team (consisting of the Heads of Conservation Programmes, Communications, Finance and Relationships and Operations) assumed responsibility for managing the day-to-day operations of the organisation and leading the strategic review process. As part of this development, opportunities were provided for the wider team to participate in leadership meetings, to present on specific themes, provide updates on programmes and partners and join discussions on strategy and organisational priorities.

Understanding and learning from the impact of the work we develop and support, at organisation, programme, and partner level, is fundamental to successful funding and continued development and growth. Over the past 12 months, our research team has made significant progress in implementing our Monitoring, Evaluation and Learning approach across our programmes, working closely with partners providing MEL and reporting support as needed. During the year an internal workshop was organised, and a comprehensive assessment conducted, resulting in:

Our team continued to grow, with the addition of four new members of staff throughout the year. In January, we welcomed Alice Davidson, our Operations Officer, to the team, while Manisa Jain joined the organisation as our Finance and Risk Officer after having volunteered with us in 2020. In April we welcomed Miriam Supuma to the team as Programme Manager for our Biocultural Diversity Programme. Based in Papua New Guinea, Miriam brings a wealth of experience to the role of leading this new and exciting programme. Also in April, Judith Hartley came on board as our Due Diligence Officer, having previously worked with Synchronicity Earth as a consultant.

We will continue to refine our MEL process and, in 2022, we will also explore how we can better monitor, evaluate and learn from much of the engagement work we do and support.

Plans for the Future

In 2022, we plan to add a minimum of four new staff to our team to strengthen our infrastructure and capacity for continued growth. We plan to provide GBP 2.7m of support for conservation work. Synchronicity Earth’s ‘more than giving’ approach is becoming increasingly strategic and in 2022 we will develop and implement a full survey of all our partners to better understand their needs to have greater longevity and impact. We are also starting to work with others in the sector to ensure that the smaller national and local groups we support are best placed to implement and scale their work.

In autumn of 2021, we launched our strategic review process and with the help of a strategic consultant, Steven Broad (former CEO of TRAFFIC), we arranged an ‘Away Day’ session with our team and trustees to provide an opportunity to reflect on our culture and values as an organisation and to explore opportunities and challenges for future growth.

Work is underway to build the capacity of our Engagement team and fully embed the Flourishing Diversity Initiative to

As part of this work, we will be developing a five-year strategic plan to increase our impact which will be published in 2022.

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Developing our Monitoring, Evaluation and Learning process

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• [SE Strands] • [Research Team]
• [Theory of Change] • [Affiliates] • [Refine indicators]
• [Indicators] • [Partners] • [Adapt approach]
Collect & Learn
Define Design Implement
Analyse & Adapt
• [Partner paperwork] • [Baselines]
• [Indicator database] • [Targets]
• [Results]
• [Stories]
2019 2020 2021
----- End of picture text -----

with them to meet those objectives. We develop our supporter network through personal introductions and meetings at various forums. All our fundraising activities are carried out by our team, including our Trustees. We are committed to protecting the data of our donors and reviewing our Data Protection Policy annually to ensure best practice. Synchronicity Earth subscribes to the Fundraising Regulator and fully supports the work they have done to improve practice across the charity sector. We have not received any complaints related to our fundraising activities during 2021.

strengthen our capacity to reach new audiences, create and deliver timely and relevant events and collaborations and support our efforts to bring greater equity, diversity and inclusion to the conservation sector.

Building on the success of 2021, our 2022 objectives are to:

The Objects of the Charity are:

• to promote for the benefit of the public the conservation, protection, and improvement of the physical and natural environment by promoting biological diversity;

• to advance the education of the public in subjects relating to sustainable development and the protection, enhancement, and rehabilitation of the environment and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large; and

Our Approach to Fundraising

Our overall approach to fundraising is based on developing personal relationships with donors, understanding their philanthropic objectives, and working

Statement of Public Benefit

The Trustees are aware of the Charity Commission guidance on 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 information in this annual report about the Charity’s aims, activities, and achievements in the areas of interest that the Charity supports demonstrates the benefit to its beneficiaries and through them to the Public that arise from those activities.

relation to the protection of its assets. Each Trustee is required to sign an annual code of conduct and conflict of interest declaration. In addition, Trustees are offered opportunities for ongoing training.

Risk Management

We assess key risks as new situations arise and undertake a formal review of our risk register twice yearly.

Although responsibility for risk management sits with the Trustees, all employees are actively involved in the process of identifying and mitigating risks. Our due diligence procedures are designed, and regularly evaluated, to maximise comfort that our grants will be effectively employed, while minimising the time our partner organisations have to spend providing us with information. Much of our programme funding is in regions where one or more of the following may be present: political uncertainty and poor governance; intimidation of environmental activists; limited conservation skills and experience and limited funding and resources for conservation work. To understand the wide range of potential risks and to put in place mitigation measures for our programme funding, Synchronicity Earth undertakes due diligence on the organisations we fund. Due diligence frameworks are periodically reviewed, and due diligence outputs enable us to put in place the support partners need to strengthen their organisations.

Structure, Governance and Management

Synchronicity Earth was incorporated on 3rd July 2009 and is a company limited by guarantee, governed by its Memorandum and Articles of Association and by policies and procedures drawn up from time to time by senior management and approved by the Board. It was registered as a charity with the Charity Commission on 19 November 2009.

Trustees

Trustees are selected on the basis of their understanding and sympathy with Synchronicity Earth’s charitable objectives and their ability to further the aims of the Charity. Trustees are appointed to hold office for a period of four years. Any retiring Trustee who remains qualified may be reappointed by the Board.

The Trustees have signed fit and proper declarations in line with HMRC guidance.

Trustees fully uphold and support the values of the organisation and its commitment to equity, diversity and inclusion. Synchronicity Earth funds a wide range of work across the globe and we celebrate multiple approaches and points of view. In everything we do we support inclusion across race, gender, age, religion, identity, and experience.

There are monthly updates and budget meetings between Trustees and members of the Senior Leadership Team; the Trustees meet quarterly to consider all important grant, strategy and operational decisions addressing risks in each area. Such regular meetings enable an assessment of developments as they arise.

Induction and Training

The Synchronicity Earth team and Trustees undertook Safeguarding training during 2021 and training was also provided through a series of interactive workshops to 43 of our partners to strengthen their approach to keeping their teams and stakeholders safe.

As part of their training, Trustees are given an information pack, which includes the Charity’s Memorandum and Articles of Association and the Charity Commission Guidance on Trustees’ Responsibilities. All Trustees are therefore aware of their legal duties and obligations in respect to governance of the Charity, including in

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The Trustees consider the following to be the Charity’s principal risks:

• the ongoing challenges posed by the global health pandemic and its continuing impact. This impact may be felt both in terms of the ability of partner organisations to carry out their full activities in contexts where vaccination rates are low and risks to staff and potential disruption of their activities still high, but also in the uncertain economic conditions in the UK, US and Europe and the potential impact on our donor network. These combined risks continue to make both sources and outcomes of funding less certain, both in terms of timing and breadth of deliverables;

• the constraints on how our staff team works together are expected to ease going forward, allowing for greater flexibility for hybrid working and more opportunities to bring groups of staff together. However, we recognise the need to support staff through continuing uncertainty and to be adaptable and flexible to respond to changes in COVID-19 risks;

The Trustees confirm that systems are in place to minimise risks. These include:

• a review schedule for all Policies, including conflict of interest, data protection and fundraising;

Organisational Management

At the end of 2021, Synchronicity Earth had a team of 17 full and part-time members of staff (equivalent to 14.7 Full-Time Employees) based primarily in London. We have always supported flexible working; however, the pandemic has continued to change the way we work and we aim to support our team to optimise the benefits of greater flexibility in where they work whilst also recognising the personal and team benefits of regular interaction in the office.

The Senior Leadership Team is responsible for:

The remuneration of Charity staff is reviewed and agreed by the Trustees, following the annual appraisal process. Recommendations are made by the Senior Leadership Team to the Board and salary levels are periodically benchmarked against comparable roles in other organisations. Key management personnel from March 2021 comprised the Head of Finance and Risk, the Head of Conservation Programmes, the Head of Communications and the Head of Relationships and Operations, who make up the Senior Leadership Team. Before the transition to a distributed leadership approach, key management personnel also included the CEO, who departed her role in March 2021.

Statement of Trustees’ Responsibilities

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources during that period. In preparing those financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the principles and methods of the Charities SORP (second edition);

• make judgements and estimates that are reasonable and prudent;

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

Disclosure of information to Auditor

In so far as the Trustees are aware:

• the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Approved by the Trustees on 14th April, 2022 and signed on their behalf by:

ADAM SWEIDAN, CHAIR OF THE BOARD OF TRUSTEES

Reference and Administrative Details

Company Registration Number: 06952204 Registered Charity Number: 1132786 Registered Office: Ground Floor, 27-29 Cursitor Street, London, EC4A 1LT.

Directors and Trustees:

The Directors and Trustees of the Charity who held office during the year and continue to serve at the date of the report’s approval are:

Bankers:

Coutts & Co

440 Strand, London WC2R OQS.

Nedbank

Millennium Bridge House, 2 Lambeth Hill, London, EC4V 4GG.

Independent Auditor:

Haysmacintyre LLP 10 Queen Street Place, London, EC4R 1AG.

Investment Custodians:

Northern Trust International Fund Administration Georges Court, 54-62 Townsend Street, Dublin 2, Ireland.

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Independent auditor’s report to the members of Synchronicity Earth

or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Opinion

We have audited the financial statements of Synchronicity Earth for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 December 2021 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Basis for opinion

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

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ Annual Report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the directors’ report).

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

• the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 25, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

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

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

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to safeguarding when working with partner organisations and employment regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to misappropriation of expenditure including grant funding. Audit procedures performed by the engagement team included:

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• Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and

• Challenging assumptions and judgements made by management in their critical accounting estimates.

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

Use of our report

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

LEE STOKES (Senior Statutory Auditor)

For and on behalf of

Haysmacintyre LLP, Statutory Auditor 10 Queen Street Place London EC4R 1AG

Date: 14th April, 2022

Synchronicity Earth

Statement of Financial Activities for the year ended 31 December 2021 (Including Income and Expenditure Account)

Income funds Expendable Total Total
endowment funds 2021 2020
Note Unrestricted Restricted Unrestricted Restricted
£’000 £’000 £’000 £’000 £’000 £’000
Income and endowments
Donations 1,293 2,737 43 210 4,283 3,324
Income from investments - -
-
-
-		 4
Total income and endowments 1,293 2,737 43 210 4,283 3,328
Expenditure on:
Raising funds 2 125 -
-
-
125		 125
Charitable activities 2&3
Amphibians 192 330 - 75 597 476
Asian species 100 275 - 109 484 322
Biocultural Diversity 32 316 -
-
348		 369
Congo Basin 95 263 -
-
358		 647
Freshwater 242 198 - 40 480 371
Ocean 122 164 -
-
286		 420
More Than Carbon 62 182 -
-
244		 143
Synchronicity 241 135 -
-
376		 92
Total expenditure 1,211 1,863 - 224 3,298 2,965
Net income before gains & losses 82 874 43 (14) 985 363
on investments and transfers
Net gain / (loss) on 3 26 6 20 55 (49)
currency revaluation
Net gain on investments 6 - 28 29 109 166 156
Transfers between reserves 10 (7) - 7 -
-
-
Net movement in funds 78 928 85 115 1,206 470
Reconciliation of funds
Fund balances brought forward 10 483 784 340 1,248 2,855 2,385
Fund balances carried forward 561 1,712 425 1,363 4,061 2,855

All amounts relate to continuing operations and there were no recognised gains and losses for 2021 other than those included in the Income and Expenditure Account.

The notes on pages 32-47 form part of these financial statements.

A detailed breakdown of comparative figures for 2020 is provided in note 13.

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Synchronicity Earth (Registered Charity Number: 1132786 and Company Number: 06952204) Balance sheet

As at 31 December 2021

Note 2021 2020
£’000 £’000
Fixed Assets
Tangible fxed assets 5 38 47
Investments 6 2,223 1,640
Total Fixed Assets 2,261 1,687
Current Assets
Debtors 7 100 323
Cash at bank 2,763 1,757
Total Current Assets 2,863 2,080
Creditors - Amounts falling due within one year 8 (1,000) (832)
Net Current Assets 1,863 1,248
Creditors - Amounts falling due after more than one year 9 (63) (80)
Net Assets 4,061 2,855
Represented by:
Restricted expendable endowment funds 10 1,363 1,248
Unrestricted expendable endowment fund 10 425 340
Restricted income funds 10 1,712 784
Designated fund 10 -
25
Unrestricted income fund 10 561 458
Total funds 4,061 2,855

The notes on pages 32-47 form part of these financial statements.

The financial statements were approved on 14th April, 2022, and authorised for issue by the Trustees and were signed on their behalf by Adam Sweidan, Chair of the Board of Trustees.

Synchronicity Earth Statement of cashflow

For the year ended 31 December 2021

2021 2020
£’000 £’000
Cash provided by operating activities 1,176 378
Cashfows from investing activities
Purchase of investments (448) (214)
Purchase of tangible fxed assets (6) (9)
Deposit interest -
4
Redemption of investments 58 93
Net cash used in investing activities (396) (126)
Cashfows from fnancing activities
Receipt of expendable endowments 253 200
Net cash provided by fnancing activities 253 200
Increase in cash in year 1,033 452
Net cash resources at 1 January 1,757 1,256
Increase in cash in the year 1,033 452
Foreign exchange movements (27) 49
Net cash resources at 31 December 2,763 1,757
Analysis of net funds
Cash at bank 2,763 1,757
Reconciliation of net income to net cash fow
from operating activities
Net income 1,206 471
Depreciation charge for the year 15 12
Net (gain) on investment assets (193) (156)
Deposit income -
(4)
Decrease/ (increase) in debtors 223 (271)
Increase in creditors 151 575
Receipt of expendable endowments (253) (200)
Gains/ (loss) on foreign currency 27 (49)
Net cash provided by operating activities 1,176 378

The notes on pages 32-47 form part of these financial statements.

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Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

1 ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention modified to include the revaluation of investment assets and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland (“Charities SORP FRS102”), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. The Charity constitutes as a public benefit entity as defined by Charities SORP FRS102.

The financial statements are presented in sterling which is the functional currency of the Charity and all amounts have been rounded to the nearest £1,000. The financial statements are prepared on a going concern basis.

Income

All income is included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised, the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

Expenditure

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation committing the Trustees to the expenditure. Expenditure is classified under the principal categories of charitable and other expenditure rather than the type of expense, in order to provide more useful information to users of the accounts.

Grants payable are charged in the year when the offer is conveyed to the recipient, except in those cases where the offer is conditional, such grants being recognised when the conditions attached are fulfilled. Grants can cover single or multiple year awards.

Charitable activities comprise direct expenditure including direct staff costs attributable to the activity. Support costs have been allocated to activities based on the average staff time spent. These costs have been further allocated in line with the total expenditure for each activity.

Status of funds

Unrestricted income and endowment funds comprise the accumulated surpluses or deficits and are available for use at the discretion of the Trustees in furtherance of the general objectives of Synchronicity Earth. Restricted income and endowment funds are funds subject to specific restrictive covenants imposed by donors. All income and expenditure of Synchronicity Earth has been included in the Statement of Financial Activities.

Foreign currency

Assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the Balance Sheet date. Transactions denominated in foreign currencies are converted at the rate of exchange ruling at the date of the transaction. All translation differences are taken to the Statement of Financial Activities as they arise.

Pension costs

The Charity operates a defined contribution pension scheme for employees. The annual contributions payable are charged to the Statement of Financial Activities.

Taxation

The Charity is not subject to any taxes on its charitable activities. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Going concern

Through careful consideration of risks as part of the normal risk management process, including the risks associated with the global coronavirus pandemic (COVID-19), and mitigating actions, both already taken and available to be taken, the Trustees consider there are no material uncertainties and hence it appropriate for the going concern basis to be adopted for these accounts.

Fixed asset investments

Quoted Investments are included at closing mid-market value at the Balance Sheet date. Realised gains and losses on investments are recognised on disposal of investments and any gains or losses on revaluation are taken to the Statement of Financial Activities. The determination of any gains and losses is calculated by reference to the value of such assets at the beginning of the accounting period.

Synchronicity Earth

Notes to the financial statements For the year ended 31 December 2021

1 ACCOUNTING POLICIES (CONTINUED)

Tangible fixed assets

Individual fixed assets with a value of £500 and above are capitalised and depreciated over their expected economic life, as follows:

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgements, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

In the view of the Trustees, there are no areas of material judgement or estimation in preparing the statutory financial statements.

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Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

2 CHARITABLE ACTIVITIES

Amphibians Amphibians Asian Biocultural Congo Freshwater Ocean More than Synchronicity Fundraising Support Total
Species Diversity Basin Carbon funds
2021 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Staff costs 51 29 41 48 58 34 30 27 125 158 601
Programme funding 463 387 260 260 358 213 182 297 - 4 2,424
Conservation engagement - - - - - - - - - 7 7
Other staff costs - - - - - - - - - 40 40
Training and development - - - - - - - - - 19 19
HR & health and safety - - - - - - - - - 8 8
Offce and infrastructure costs
-		 - - - - - - - - 143 143
Comms & marketing - - 1 4 - - - - - 20 25
Governance costs - - - - - - - - - 20 20
Exchange differences - - - - - - - - - 4 4
Fundraising costs - - - - - - - 1 - - 1
Bank charges - - - - - - - - - 6 6
514 416 302 312 416 247 212 325 125 429 3,298
Allocation of support costs 83 68 46 46 64 39 32 51 - (429) -
Total expenditure 597 484 348 358 480 286 244 376 125 - 3,298
2020 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Staff costs 65 50 36 38 54 40 35 31 124 134 607
Programme funding 349 231 283 517 269 323 92 53 - 22 2,139
Conservation engagement - - - - - - - - - 8 8
Other staff costs - - - - - - - - - 14 14
Training and development - - - - - - - - - 10 10
HR & health and safety - - - - - - - - - 13 13
Travel & subsistence - - - - - - - - - 2 2
Offce and infrastructure costs
-		 - - - - - - - - 135 135
Comms & marketing - - - - - - - - - 12 12
Governance costs - - - - - - - - - 29 29
Exchange differences - - - - - - - - - (9) (9)
Fundraising costs - - - - - - - - 1 - 1
Bank charges - - - - - - - - - 4 4
414 281 319 555 323 363 127 84 125 374 2,965
Allocation of support costs 62 41 50 92 48 57 16 8 - (374) -
Total expenditure 476 322 369 647 371 420 143 92 125 - 2,965

Included within governance costs are audit fees of £7,500 (2020: £7,200). Included within Office and infrastructure costs is a depreciation charge of £15k (2020: £12k) and Operating lease rentals of £93k (2020: £92k).

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3 CHARITABLE ACTIVITIES – ANALYSIS OF PROGRAMME FUNDING

Synchronicity Earth Notes to the financial statements

For the year ended 31 December 2021

Synchronicity Earth Notes to the financial statements

For the year ended 31 December 2021

3 CHARITABLE ACTIVITIES – ANALYSIS OF PROGRAMME FUNDING (CONTINUED)

2021 2020
£’000 £’000
Amphibians
Amphibian Ark 19 -
Amphibian Red List Authority 37 129
Amphibian Survival Alliance 67 58
A Rocha International 10 -
Asociación Pro Fauna Silvestre - Ayacucho - 7
Bolivian Amphibian Initiative 11 -
Eco Custodian Advocates 4 -
Endangered Wildlife Trust 74 15
Fundaeco 44 -
Herp Ghana 34 8
Instituto Biotropicos 18 -
Instituto Curicaca 15 16
Jocotoco Foundation - 16
Miaro Ny Sahona 13 2
Project Palaka 18 6
Save the Frogs! Ghana 15 7
Wildlife Trust of India 84 -
External programme management - Note (i) - 85
463 349
Note (i) - Includes staff costs in connection with the Amphibian Programme disclosed in note 4 under Staff costs. Note (i) - Includes staff costs in connection with the Amphibian Programme disclosed in note 4 under Staff costs.
Asian Species
Asian Species Action Partnership 89 100
Greenviet 53 12
Hutan - Kinabatangan Orangutan Conservation Project 93 16
IUCN SSC Primate Specialist Group 22 24
Living Rivers Association 4 -
Mabuwaya Foundation - 23
Royal Society for Protection of Nature 22 7
Saola Foundation 43 11
Satucita Foundation - 15
Save Vietnam’s Wildlife 44 11
Talarak Foundation Inc. 17 10
External Programme Management - 2
387 231
2021 2020
£’000 £’000
Biocultural Diversity
African Food Sovereignty Alliance -
8
Bismarck Ramu Group 10 -
Chepkitale Indigenous People Development Project -
8
Comissão Guarani Yvyrupa 130 97
Cultural Survival Inc 7 -
Fundacion Pachamama 26 30
Fundo Sociomabiental Casa 22 -
Gaia Foundation -
5
ICCA Consortium -
10
Korero o te Orau 1 5
LifeMosaic 15 -
Nature Conservation Foundation 21 32
Agroecology Foundation -
30
Prism the Gift Fund -
2
External Programme Management 28 56
260 283
Congo Basin
African Food Sovereignty Alliance 15 10
African Marine Mammal Conservation Organization 19 -
Coalition des femmes Leaders pour l’Environnement et le Développement Durable -
73
Dynamique des Groupes des Peuples Autochtones -
88
Femmes Solidaires 9 60
Re:Wild (formerly Global Wildlife Conservation) 7 -
Grain 15 20
Green Development Advocates 14 20
Herp Ghana 12 -
ICCA Consortium 15 -
International Rivers Africa Programme 23 10
Land is Life -
10
Mbou Mon Tour -
88
Okapi Conservation Project 15 -
Rainforest Foundation UK -
36
Réseau CREF 54 33
Well Grounded 11 59
External Programme Management 51 11
260 517

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3 CHARITABLE ACTIVITIES – ANALYSIS OF PROGRAMME FUNDING (CONTINUED)

Synchronicity Earth Notes to the financial statements

For the year ended 31 December 2021

Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

3 CHARITABLE ACTIVITIES – ANALYSIS OF GRANT AND DIRECT PROJECT COSTS (CONTINUED)

2021 2020
£’000 £’000
Freshwater
Balkan River Defence 5 -
Bournemouth University - 10
Centre for Social Research and Development 11 -
Durrell Wildlife Conservation Trust 40 20
Global Environment Centre 15 -
Instituto Juruá 29 15
International Rivers Africa Programme 11 13
International Rivers Global - 23
IUCN Freshwater Biodiversity Unit 41 50
IUCN Freshwater Conservation Sub-Committee 14 15
Living Rivers Association 31 30
Lost Fishes Consultants 9 -
MUPAN 19 -
Yayasan Bumi Saweirigading 18 6
Programme management - Note (ii) 115 87
358 269

Note (ii) - Includes staff costs in connection with the management of the Shoal Programme disclosed in note 4 under Staff costs

Ocean
Ailan Awareness 7 -
Alliance of Solwara Warriors 7 5
Bloom Association 10 68
Deep Ocean Stewardship Initiative 25 -
Deep Sea Conservation Coalition 13 90
Eco Custodian Advocates 7 -
High Seas Alliance - 90
IUCN Biomass Fisheries 49 -
Korero o te Orau 19 5
Make Stewardship Count 30 30
Project Seahorse 10 -
Save Andaman Network 20 -
Consultancy costs - High & Deep Seas 16 35
213 323
2021 2020
£’000 £’000
More than Carbon
Endangered Wildlife Trust 7 -
Fundacion de Conservacion Jocotoco 72 -
Hutan - Kinabatangan Orangutan Conservation Project 73 19
Instituto Juruá 30 -
Jocotoco Foundation -
73
182 92
Synchronicity
A Rocha International 9 -
Action for Conservation -
11
Conservation Optimism 40 -
Environmental Funders Network 6 6
IUCN SSC Mollusc (7) -
Book on Biocultural evidencing 107 8
Resilient Foundation 22 -
ShareAction 25 5
The Resurgence Trust 2 -
Flourishing Diversity engagement 93 23
297 53
Expenditure relating to all Programmes 4 22
Total grant and direct project costs 2,424 2,139

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Synchronicity Earth Notes to the financial statements

For the year ended 31 December 2021

4 STAFF COSTS
2021 2020
£’000 £’000
Wages & salaries 590 628
Social security costs 57 64
Employer’s pension contributions 31 33
Termination payment to former employee 29 -
Total salary costs 707 725
Freelancer costs 31 -
Other staff costs 10 14
Total staff costs 748 739

Included in the above is an amount of £106k (2020: £109k) and consultant’s costs of £14k (2020: £9k) which have been charged directly to Programme costs - See notes 2 & 3 above.

The average number of employees during the period was 17.1 (2020: 15.5).

Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

5 TANGIBLE FIXED ASSETS

Artwork Fixtures & Fittings Computer Equipment Fixtures & Fittings Computer Equipment Total
£’000 £’000 £’000 £’000
Cost or valuation
At 1 January 2021 11 35 20 66
Additions - - 6 6
At 31 December 2021 11 35 26 72
Depreciation
At 1 January 2021 - 13 6 19
Charge for the year on owned assets - 7 8 15
At 31 December 2021 - 20 14 34
Net Book Value
At 31 December 2021 11 15 12 38
At 31 December 2020 11 22 14 47

The total amount of employee benefits received by key management personnel was £276,519 (2020: £213k). Key management costs for 2021 include termination payments for the former CEO and now include salaries for the four members of the Senior Leadership Team.

The emoluments of two employees (2020: three) are in the following ranges:

2021 2020
No. No.
£60,000 to £69,999 1 1
£80,000 to £89,999 1 1
£90,000 to £99,999 - 1

Trustees did not have any expenses reimbursed during the year (2020: nil).

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6 FIXED ASSET INVESTMENTS (AT MARKET VALUE)

Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

8 CREDITORS: AMOUNTS DUE WITHIN ONE YEAR
2021 2020
£’000 £’000
Total investments and cash under management 2,223 1,640
Net unrealised investment gain 166 201
Net realised gain/ (loss) on exchange 27 (45)
Net gains on investments 193 156
Market value at 1 January 1,640 1,362
Additions at cost 448 215
Disposals at market value (58) (93)
Net gains on investments 193 156
Market value at 31 December 2,223 1,640
Historical cost at 31 December 1,737 1,333

Where a realised gain or loss that has already been recognised as an unrealised gain or loss in a prior year, a corresponding gain or loss is included within unrealised gain or loss for the current year.

7 DEBTORS
2021 2020
£’000 £’000
Accrued income 25 277
Prepayments 12 1
Other debtors 63 45
100 323
2021 2020
£’000 £’000
Amounts falling due within one year £’000 £’000
Programme funding commitments 965 755
Accrued expenses 14 36
Deferred rent liability -
10
HM Revenue & Customs 13 20
Pension contributions 5 4
Trade creditors 3 7
1,000 832

9 CREDITORS: AMOUNTS DUE AFTER MORE THAN ONE YEAR
2021 2020
£’000 £’000
Amounts falling due after more than one year
Programme funding commitments 63 80
63 80

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Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

10 ANALYSIS OF FUNDS

Fund Income Expenditure Transfers Net Net Fund
Balance between currency unrealised Balance
01/01/2021 funds gains gains 31/12/2021
Unrestricted funds £’000 £’000 £’000 £’000 £’000 £’000 £’000
Unrestricted income fund 458 1,293
(1,211)		 18 3 - 561
Designated fund 25 -
-
(25)		 -
-
-
Total 483 1,293
(1,211)		 (7) 3 - 561
Unrestricted expendable
endowment fund
The Synchronicity Earth Living Fund 340 43
-		 7 6 29 425
Total unrestricted funds 823 1,336
(1,211)		 - 9 29 986
Restricted income funds
Amphibians 313 252
(330)		 (10) 6 5 236
Asian Species 54 272
(275)		 - 1 - 52
Biocultural Diversity 24 402
(316)		 13 2 4 129
Congo Basin 194 822
(263)		 - 12 11 776
Freshwater 74 188
(198)		 - 1 - 65
Ocean 85 235
(164)		 14 - 8 178
More Than Carbon 20 376
(182)		 - 4 - 218
Synchronicity 20 190
(135)		 (17) -
-
58
Total 784 2,737
(1,863)		 - 26 28 1,712
Restricted expendable endowment funds
The Durrell Fund 215 - (40) - -
18		 193
The Amphibian Fund 378 129
(75)		 - 10 35 477
The Ape Fund 655 81
(109)		 - 10 56 693
Total 1,248 210
(224)		 - 20 109 1,363
Total restricted funds 2,032 2,947
(2,087)		 - 46 137 3,075
Total funds 2,855 4,283
(3,298)		 - 55 166 4,061

Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

10 ANALYSIS OF FUNDS (CONTINUED)

Analysis of net assets between funds Income funds Income funds Expendable Total
endowment funds 2021
Unrestricted Restricted Unrestricted
Restricted
£’000 £’000 £’000 £’000 £’000
Investments - 408 398
1,417		 2,223
Tangible Fixed Assets 37 1 -
-		 38
Debtors 75 25 -
-		 100
Cash at bank 574 2,080 27
82		 2,763
Current liabilities (125) (769) - (106) (1,000)
Long-term liabilities - (33) - (30) (63)
Total 561 1,712 425
1,363		 4,061
Investments - 90 320
1,230		 1,640
Tangible Fixed Assets 47 1 -
-		 47
Debtors 46 277 -
-		 323
Cash at bank 582 1,134 20
38		 1,757
Current liabilities (192) (638) - (38) (832)
Long-term liabilities - (80) -
-		 (80)
Total 483 784 340
1,230		 2,855

Synchronicity Earth currently operates a restricted fund for each programme, as set out above and explained in the Report of the Trustees.

Donations to the General income restricted fund are allocated to the relevant programme fund upon receipt, in accordance with the express wishes of the donor. Expenditure from each programme fund is in accordance with the restrictions of the donation.

Transfers to and from the General income unrestricted fund are made as required to make good a deficit on a restricted programme fund or with the express permission of the donor.

In 2016, the trustees established four expendable endowment funds under declarations of trust. The Synchronicity Earth Living Fund is an unrestricted expendable endowment fund established in order to ensure the long-term viability of the Charity and secure long-term funding for its programmes. There are three restricted expendable endowment funds as follows:

• The Durrell Fund has been established to support the aims and objectives of Durrell Wildlife Conservation Trust – UK, a charity registered in England and Wales, Registered number 1121989.

The endowment monies have been invested in the Aurum Synchronicity GBP and USD Funds, as advised by Aurum Fund Management Ltd and administered by Northern Trust International.

Included within the Synchronicity Earth Living Fund in 2020 was an amount of £25,000 which the Trustees had designated to the Programme Contingency Fund, in addition to £25,000 designated within Unrestricted income funds. The Trustees now consider this amount designated to be no longer necessary and chose to allocate the full amount of £50,000 to the Synchronicity Earth Living Fund.

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Synchronicity Earth Notes to the financial statements

For the year ended 31 December 2021

11 RELATED PARTY TRANSACTIONS

The fund management agreement between Synchronicity Earth and Aurum Fund Management Ltd did not give rise to any benefit for A. Sweidan who is a shareholder of the Aurum Fund Management Ltd. A. Sweidan is also a director of the Aurum Synchronicity GBP and USD Funds. Each transaction entered into between the Company and the Aurum Synchronicity Funds (see note 6) was carried out at the net asset value per share at the applicable time of the transaction, as reported by the independent administrator of such funds.

There were no other related party transactions in the current or preceding year.

12 FINANCIAL COMMITMENTS

At the year end, Synchronicity Earth had total minimum future lease payments under non-cancellable operating leases, as follows:

Property Property
2021 2020
£’000 £’000
Not later than one year 61 91
Programme funding commitments 98 159
159 250
Offce equipment Offce equipment
2021 2020
£’000 £’000
Not later than one year 1 1
Programme funding commitments 2 -
3 1

On 30 January 2019, the Charity entered into a 5-year lease for office premises.

Synchronicity Earth Notes to the financial statements For the year ended 31 December 2021

13 PRIOR YEAR COMPARATIVES

Income funds Expendable
Total
endowment funds
2020
Unrestricted Restricted Unrestricted Restricted
£’000 £’000 £’000 £’000 £’000
Income and endowments
Donations 1,250 1,874 78 122 3,324
Income from investments 4 -
-
-
4
Total income and endowments 1,254 1,874 78 122 3,328
Expenditure on:
Raising funds 2 125 -
-
-
125
Charitable activities 2&3
Amphibians 204 195 - 77 476
Asian species 101 181 - 40 322
Biocultural Diversity 116 253 -
-
369
Congo Basin 145 502 -
-
647
Freshwater 173 178 - 20 371
Ocean 97 323 -
-
420
More than Carbon 51 92 -
-
143
Synchronicity 84 8 -
-
92
Total expenditure 1,096 1,732 - 137 2,965
Net income before gains & losses 158 142 78 (15) 363
on investments and transfers
Net (loss) on (49) - -
-		 (49)
currency revaluation
Net gain on investments 6 - 10 22 124 156
Transfers between reserves 10 (9) (8) 17 -
-
Net movement in funds 100 144 117 109 470
Reconciliation of funds
Fund balances brought forward 10 383 640 223 1,139 2,385
Fund balances carried forward 483 784 340 1,248 2,855

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Ground Floor, 27-29 Cursitor Street, London, EC4A 1LT Registered in England & Wales No 06952204 Registered Charity No 1132786 Designed by Banyan Design, Chalford • banyandesign.co.uk

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