ecological
sequestration
trust
Report and Accounts
Year ended 31 March 2024
www.ecose
uestrust.or
Company number.. 07611969
Registered Charity: 1143397

the ecological sequestration trust
Contents
Pago
Company information
Independent examiner's report
Trustees report
Statement of financial activities
12
Balance sheet
13
Notes lo the financial slalements
15
Page 2

the ecological sequestration trust
Company information
for the
ear ended 31 March 2024
Trust99S
Professor Peter Head CBE FREng FRSA
Professor Nilay Shah OBE FREng
Risa Goldstein (resigned 25th May 20231
Barbara Ryan
Robin Slott
The Ecological Sequestration Trust is a charitable company limited by guarantee
registered in England and Wales
Company number:
07611969
Registered Charity number: 1143397
Registered Office
86-90 Paul Street
London
EC2A 4NE
Page 3

the ecological sequestration trust
Independent examiner's report
for the
ear ended 31 March 2024
Independent examiner's report to the trustees of The Ecological Sequgstration Trust
I report lo the Iruslees on my examination of the financial slalements of the company for the year
ended 31 March 2024 which are set out on pages 12 to 21.
This report is made solely lo the trustees as a body, in accordance with the Charities Act 2011.
My examination has been undertaken so that I might stsle lo the trustees those matters l am
required lo stsle lo them in an independent examiner's report and for no other purpose. To the
fullest extent pem)illed by law, I do not accept or assume responsibility to anyone other than the
Trust and the trustees as a body. for my examination, for this report, or for the opinions I have
formed.
Responsibilities and basis of report
As the trustees of the charitable company (and also ils directors for the purposes of company
lawl you are responsible for the preparation of the financial statements in accordance with the
requirements of the Charities Act 2011 I'lhe 2011 Act'i.
I report in respect of my examination of your charity's fi'nancial ststemenls as carried out under
section 145 of the 2011 Act and in carrying out my examination I have followed 811 the 8ppIic8ble
directions given by the Charity Commission under section 145{5llb} of the 2011 Act.
Independent examiner's statement
If the charity's gross income exceeds £250,000 your examiner must be a member of a body listed
in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because
l am a member of the Association of Certified Chartered Accountants, which is one of the listed
bodies.
I have completed my examination. I confirm that no matters have come lo my all8nlion in
connection with my examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charitable company as required by section
130 of the 2011 Act., or
the financial statements do not accord with those records- or
• the financial statements do not comply with the applicable requirements concerning the form
and content of financial statements sel out in the Charities (Accounts and Reports)
RegLJlations 2008 other than any reqLJiremenl that the financial statements give a 'true and
fair view, which is not a matter considered as part of an independent examination.
Page 4

the ecological sequestration trust
Independent examiner's report
for the
ear ended 31 March 2024
I have no concerns and have come across no other matters in connection with the examination
to which attention should be drawn in this report in order lo enable a proper understsnding of the
accounts to be reached.
In reaching my conclusion on the financial stalemenls, I have considered the adequacy of the
disclosures in note 1.2 to the financial statements conceming the charitable company s ability to
continue as a going concem. The Trustees have confirmed that continual SLJPPOrt will be available
from Professor and Mrs Head and expect that current and future sources of funding will be
adequate for the company s needs.
Wendy Smith
Independent Examiner
Date." 4 November 2024
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the ecological sequestration trust
Trustees report (incorporating a Directors report)
for the
ear ended 31 March 2024
Objo¢tiVgs and a¢higVgmgnts 2023-2024
Our objectives
Our achievements
To attract the talent and expertise to establish
and Tun the Trust, alongside a wider
multidisciplinary advisory network.
We have continued to attract high profile
expertise lo act as Trustees and Advisory Board
members.
We have established a global
research group lo look at post eovid-19 green
and just recoveries with 200 expert members.
To identify and allracl sponsorship lo fund the
work of the Trust and implement our strategic
aims.
Securing sponsorship continues lo be
challenging. We have, however, built the
Resilience Brokers delivery am) into a viable
business providing services aligned lo our
strategic aims and basic stability lo the team
which is enabling the group lo build new
partnerships and opportunities, such as that
with Dutch company Trust 2 Impact.
To develop an open-source agenl-based
integrated
urban-rural
design
model
Iresilien￿.lQl to represent actual and
proposed economics and resource flows and
Iransformalions for regional decision-making
support to achieve the Global Goals.
Our opportunities to build on the prototype
urt)an-rural design model have been limited for
this year.
We have Continued lo develop
expertise and applications of systems thinking
in city-region settings which is allowing us lo
bLJild knowledge and expertise to support future
developments in this area. We are aligned with
Trust 2 Impact and are bidding for funding which
will enable this work lo progress. There are
encouraging signs of increased demand for this
globally.
Objectives 2024- 2025
Our objectives for 2024-2025 are..
lo identify and attract grants and sponsorship to fund the work of the Trust through the
development of our association with Trust 2 Impact.,
lo continue to grow the Resilience Brokers entity to a sustsinable profitable business.
Strateglc alms 2024- 2029
The Trust is working lo a five-year programme, with the following strategic objectives:
To establish city-region demonstrators of regenerative integrated planning around
the world. For each of these, to develop a portfolio of collaboration, technology
integration and infrastructure projects involving global and local partners.
To further dovalop, test and daploy tools for collaboration and systams thinking to
support integrated planning in city regions in order to develop practical deliverable
scenarios for low carbon, healthy, just and resilient urban development.
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the ecological sequestration trust
Trustees report (incorporating a Directors report)
for the
ear ended 31 March 2024
To build on our global network, bringing talent and expertise together so as to
rapidly deploy together with resour￿8 to support climate compatible impact.
Structur9* govgrnancg and managgment
Governing document and constitution
The Ecological Sequestration Trust is a charitable company limited by guarantee No. 07611969,
incorporated under and governed by ils Memorandum and Articles of Association. The Ecological
Sequestration Trust was registered with the Charity Commission as a charity in England and
Wales on 21 April 2011, No. 1143397. The administrative details of the charitable company are
detailed on page 3 for the year ended 31 March 2024.
Objects
The objects of the Charity, as set out in the Articles of Association, are..
the conservation of the natural environment for the public benefit by promoting the reduction
of greenhouse gases, particulady (without limitation} by developing and advancing carbon
sequestration methods to reduce carbon dioxide levels in the atmosphere,. and
lo promote and carry out for the public benefit research into climate change and methods to
reduce climate change, and lo publish and widely disseminate the results of such research.
Public benefit
The Trustees have referred lo the guidance in the Charity Commission's general guidance on
Public Benefit when reviewing our aims and objectives and in planning our future activities. In
particular, the planned activities will have a direct and positive benefit for individuals, communities
and economies through the improved ulilisation of scarce resources and resulting reduction in
damage lo the natural environment.
Recruitment and appointment of Trustees
The Trustees are listed on pages 8 and 9 and constitute the Board that manages the company.
Trustees are recruited according to a range of skills and experien￿ required to ensure the
organisalion's objectives are achieved. The minimum number of Board members is ￿0. One third
of trustees must retire al each annual general meeting, but are all eligible for re-election. Normally,
Trustees may serve a maximum of three years at which point they musl take a break from office.
This rule may be disapplied by a unanimous resolution of the Trustees.
Induction and training of Trustees
Newly appointed Trustees are provided with an information pack detailing the Charity's work. its
partnerships and its current policies. A programme of meetings is set up for new Trustees with
the Chair and key members of staff.
Organisational stmeture and decision making
The Board is responsible for the policy and stffttegy of The Ecological Sequestration Trust and
ils subsidiary Resilience Brokers Limited, ensuring the long-lem sustainability of the organisalion
along with its financial and legal probity. 11 is also responsible for the appointment of Trustees.
The Executive Management Team is responsible for implementing policies and strategies that
have been approved by the Board, and for progressing organisational objectives.
The Board aims to meet quarterly and receives financial and operational reports from the
Executive Management Team.
Risk management
The Board and Executive Management Team continually examine the principal areas of the
Charity's operations and it regulady considers the major risks that may arise in each of these
Page 7

the ecological sequestration trust
Trustees report (incorporating a Directors report)
for the
ear ended 31 March 2024
areas. The Executive Management Team continues to monitor carefully the financial outcome of
initiatives undertaken during the year. It has done this in the knowledge that reserve funds need
to increase in line with the Charitys reserves policy. This is an area that will continue lo be
monitored carefully in light of future plans.
The Trustees (who are also the Directors for Company law) are=
Prof. Peter Head
Professor Peter Head is a civil and slruclural engineer and a
recognised world leader in major bridges, advanced composite
technology and integrated systems planning for sustainable
development in cities and regions, working for Maunsell, AECOM
and Arup.
In 2008 he was named by the Guardian Newspaper as one of 50
people that could 'save the planet, and was cited by Time magazine
as one of 30 global eco-heroes.
In April 2011 he set up The Ecological Sequestration Trust, a Charity
which has brought together the world's top scientists, engineers,
economists, financiers, health, ecology and other specialists lo
create the www.resilience.io tool to help accelerate tackling climate
change and inclusive regenerative development. 11 was prototyped
and used by the Accra Metro Area lo create an inlegraled systems
investment plan lo meet the United Nations Sustainable
Development Goal SDG6- water and sanilalion by 2030.
As well as working extensively with the UNDRR, Peter is visiting
professor in sustainable systems engineering at University of Bristol.
He also lectures on Performan￿ Based Procurement at Oxford
Brookes University.
In 1998 he was awarded the OBE for his work on the Second Severn
Crossing project and then in 2011 the CBE for services to Civil
Engineering and the Environment.
Prof. Nilay Shah
Professor Nilay Shah is Head of Department of Chemical
Engineering and Director of the Centre for Process Systems
Engineering al Imperial College London. He has co-authored over
200 technical papers on energy systems modelling and engineering,
bio-energy systems, hydrogen infraslruclures, supply chain
modelling, process optimisalion, biochemical process design, and
plant safety. He has developed an optimisalion-based design
methodology for a variety of energy systems with strong spatial and
temporal aspects.
Nilay has received a number of awards including the IChemE Junior
Moullon Medal119961, an RAEngllCI Engineering Fellowship11997-
2001}, the Royal Society of Chemistry Beilby Medal and Prize
120051, the Imperial College Rector's Award for Research EX￿llence
120061, RAEng MacRobert Award 120071 and Imperial College
Engineering Teaching Excellen￿ Award 120091. He was awarded
the OBE for services lo decarbonising the economy in 2022.
Barbara Ryan
Barbara J. Ryan, was the Secretariat Director of the
Intergovernmental Group on Earth Observations IGEOI in Geneva.
Switzerfand to 2018. GEO is comprised of neady 100 Member
Stales, the European Commission, and 90 intemalional scientific
and technical partner organizations.
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the ecological sequestration trust
Trustees report (incorporating a Directors report)
for the
ear ended 31 March 2024
Under Barbara's leadership, millions of satellite images and other
earth observation data have been made available to the general
public al no charge, allowing scientists. planners and policy makers
lo make betler-informed decisions on problems that trans￿nd
political boundaries. Herwork addresses critical issues in agriculture.
biodiversity, climate change, disaster planning. energy, health and
water.
Since becoming Director of GEO in 2012, Barbara has worked to
integrate earth observation systems from around the wodd into a
single, comprehensive system that uses co-ordinated data to
understand how environmental factors impact human life.
Robln Stott
Robin Stoll is a retired consultant physician with a lifetime interest in
developing more socially and economically equal societies, which
when created within environmental limits, are optimal precursors for
good health.
In addition to enjoying his roles as father and grandfather, Robin
relishes exercise, which he sees as a magic bullet in the prevention
of non-communicable disease. He runs, cycles and praclises tai chi
regularfy, and is a keen amateur astronomer.
Page 9

the ecological sequestration trust
Trustees report (incorporating a Directors report)
for the
ear ended 31 March 2024
Financial review
Total incomg
Total income for the period amounted lo £126,47512023.' £101,499). This increase in revenue is
attributed to an increased donation received from Professor and Mrs Head in the year and a
donation received from our trading arm Resilience Brokers.
Total expenditure
Total expenditure for the year amounted to £2,504 12023.. £89,863). A grant of £84,941 was
made to our trading arm, Resilience Brokers Limited in the prior financi81 year which has not been
repeated this year. This has resulted in a reduction of expenditure incurred by the Trust in the
current year.
Of the total expenditure of £2,504, 850/.1£1.4901 was spent on charitable activities and promoting
the Charity. In 2023, of the total expenditure of £89,113, 970/.1£86,277} was spent on charitable
activities and promoting the Charity. The remaining 150/.12023.. 30/.) was spent on support costs
and governance.
The Charity generated a net surplus for the year of £123,971 12023: nel surplus £11,636) which
has resulted in a closing unrestricted funds balance of negative £560,163 12023.. negative
£684,134}.
Reserves policy and going concern
The Ecological Sequeslralion Trust aims lo achieve a level of unrestricted reserves that will allow
il sufficient stability lo plan ahead for future ventures, whilst knowing that il can continue its
operations and meet ils commitments in the event of an unexpected shorrfall in income.
Future ventures are now being steered through a long-lerm partnership with a new Dutch
company, Trust 2 Impact, which shares the ambitions of the Trust and is putting subslanlial in-
kind effort into multiple bids for funding for projects in Kenya. These projects, and the funding
raised. will fund agreed work by Resilience Brokers on new data driven modelling and provision
of collaboration platforms. Agreements are in place for this work. Resilience Brokers are now
being approached for similar support on UK based programmes.
11 is the Trustees, intention to ensure that new projects are undertaken only where there is
sufficient specific additional funding available to cover related costs. Future income is anticipated
from the ongoing support of Professor and Mrs Head as well as donations from our trading arm
Resilience Brokers.
The Trust currently has negative reserves which have been funded by a loan from Professor and
Mrs Head, details of which is given in note 16 to the accounts. The loan capital is repayable by
agreement either in full or part subject lo the Trust having sufficient funding lo do so. Without the
support of this loan il is doubtful that the Trust could continue operating. The trustees have
confirmation from Professor and Mrs Head that they will continue lo support the Trust and will not
require the repayment of the loan until funding allows.
Trustees. responsibilities
The Trustees, who are also the directors of the company for the purposes of company law, are
responsible for preparing the Annual Report and the Financial Slalements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice). Company law requires the Board of DireclorslTrustees lo prepare financial
statements for each financial period that give a true and fair view of the stsle of affairs of the
Charitable Company as al the balan￿ sheet date, and of ils incoming reSoUr￿S and application
of resources, including income and expenditure, for the financial period. In preparing these
financial statements, the Board of Directorsttrustees are required to..
select SLJitable accounting procedures and apply them consistendy,
observe the methods that are reasonable and prudent,
Page 10

the ecological sequestration trust
Trustees report (incorporating a Directors report)
for the
ear ended 31 March 2024
state whether applicable UK accounting standards and statements of recommended practi
have been followed subject to any material departures disclosed and fully explained in the
financial slalements, and
prepare the financial statements on the 'going concern, basis unless it is inappropriate to
presume that the charity will continue in operation.
The Board of DirectorS￿rusteeS are responsible for maintaining proper accounting records that
disclose with reasonable accuracy at any lime the financial position of the Charitable Company,
and enable them lo ensure the financial statements comply with the Companies Act 2006. The
Board of DireclorslTrustees are also responsible for safeguarding the assets of the Charitable
Company and hence for taking reasonable steps to prevent fraud and other irregularities.
In accordan￿ with company law, the Charitsble Company s Trustees and Directors who held
office at the date of the approval of this Trustees, Report certify that as Directors of the Charitsble
Company they have taken all the steps that they ought to have taken in order lo make themselves
aware of any relevant infom)alion.
This report is prepared in accordance with the accounting policies sel out on pages 15,16 and 17
of the atiached financial statements and comply with the charitable company's memorandum and
articles of association, applicable laws and the requirements of the Statement of Recommended
Practice applicable lo charities preparing their financial slalemenls in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
This report was approved by the Board of Trustees and signed on their behalf by..
(R l--J
Professor Peter Head
Company DireclorlTrustee
Date.. 4 November 2024
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the ecological sequestration trust
Statement of financial activities (incorporating an income and
expenditure account)
for the
ear ended 31 March 2024
Restricted Unrestricted
funds
fund5
2024
Total
fund5
2023
Total
funds
Incoming resources
Donations
Charrtable actmties
Other actmties
126.475
126.475
60.001
40.941
557
Total incon)ing resources
126.475
126,475
101.499
Expendilu￿ on
Charrtable 3ctMties
Govèmance costs
(1.7541
17501
(1,7541
17501
(89.113}
17501
{2.5041
12.5041
{89.8631
Net movement in fvnds. being net
incomel lexpendrturel for the year
123,971
123,971
11.636
Total fvnds brought fotwaid
1684.1341
1684.1341
1695.7701
Fund balance at 31 March
1560,163)
1560,1631
1684,1341
There were no recognised gains or losses other than those stsled above.
The notes on pages 15 to 22 form an integral part of these accounts.
All activities relate lo continuing operations.
Page 12

the ecological sequestration trust
Balance sheet
as at 31 March 2024
Com
an
No. 07611969
2024
2023
Notes
Current assets
Investments
C3sh in bank and in hand
501
502
611
612
cr￿ltOrs. amounts falling due wihin 1 year
Trade 3nd other pay3bles
Pr￿ls1o￿S
10
11
(337.1851
1402.2661
(132.0001 1132,0001
(469.1851 1534.2661
Net current liakn'lities
(468.6831
1533.6541
Total assets less current liabilities
(468.6831
1533,6541
Credltors: amounts falllng due In more than 1 year
Loans payable
12
(91.4801 1150.4801
Total nei liabilities
(560.1631 1684.1341
Funds
Restricted funds
Unrestricted fijnds
16
16
(560.1631 1684.1341
Total funds
(560.1631 1684.1341
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
For the year ending 31 March 2024 the company was entitled lo exemption from audit under
section 477 of the Companies Act I'the ACV'I relating to small companies.
Directors, responsibilities..
The members have not required the company to obtain an audit of its accounts for the year in
question in accordance with section 476 of the Act.,
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect lo accounting records and the preparation of accounts.
The financial slalemenls were approved and aulhorised by the Board.
Siqned on behalf of the Board of Trustees..
Professor Peter Head
Company DirecIor￿rUstee
Date.. 4 November 2024
Page 13

the ecological sequestration trust
Balance sheet
as at 31 March 2024
Com
an
No. 07611969
The notes on pages 15 to 22 form an integral part of these awounts
2024
2023
Notes
Cash flow from operatlng actlvltles
14
1110)
16,8521
Cath flow from Inve*lng actlvltles
Sale of fixed assets
Cad) flow from financing activities
955
Interest paid
Net Idecreasellincrease in cash and cash equivalents
1110}
15,8971
Cash and cash equivalents at the &art of period
611
6,508
Cath and cash 9quiva19nts al thg ond of pgriod
501
611
Page 14

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
Accounting policigs
The principal accounting policies adopted in the preparation of these financial statements are set out
below.
1.1 Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance
with UK Generally Accepted Accounting Practice, the Companies Act 2006 and 'The Financi21 Reporting
Standard applicable in the UK and Republic of Ireland. I'FRS 102.1 and "Accounting and Reporting by
Charities.. Statement of Recommended Praelice" applicable to charities applying FRS1021"SORP"I.
The Ecological Sequestotion Trust meets the definition of a public benefit enlily under FRS102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the
relevant accounting policy notelsl.
1.2 Preparatlon of accounts on a golng concern basls
The Iruslees have confirmation from Professor and Mrs Head that they will continue to support the Trust
and will not require the repayment of the loan until funding allows. The Iruslees are of the view that this
ongoing support by Professor and Mrs Head as well as prospective funding sources have secured the
immediate future of the Trust for the next 12 to 18 months and that on this basis the assessment of the
trustees is that the charity is a going concern.
1.3 Income recognition
Income from charitable aclivilies.. Income is recognised over the period that the service is provided.
Voluntary income.. Patron and donor income is recognised when the inwme is received.
Grants received for specifi¢ purposes are allocated against the expenditure to which they relate within
restricted funds.
Investment income.. Investment income is recognised when the income is receivable.
1.4 Foreign currencies
Transactions in foreign currencies are initially recorded at the rates of exchange prevailing on the dates
of the Iransaclions. Monetary assets and liabilities denominated in such currencies are retranslated at
the rates prevailing on the balance sheet dale. Profits arbd losses arising on exchange are included in
the net profit or loss for the year.
1.5 Taxation
The company is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a Charitable company for UK corporation tax purposes.
Accordingly, the company is not liable lo income lax or corporation tax derived from ils charitsble
aclivilies.
1.6 Grants payable
Grants payable represent amounts awarded by the charity during the yearfor charitable purposes. Grants
payable are shown under creditors in the balance sheet and represent the full liability lo pay grants lo
recipients over the full duration of their research projects. The grants are recognised as being payable
On￿ the recipient has met the conditions for receipt and the grant has been minuted at the trustees,
meeting.
Page 75

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
1.7 Fixod assets and d9prgciation
Assets are included at cost and are capilalised where the cost eX￿edS £500. Depreciation is provided
on all tangible fixed assets in use at rates calculated lo write off the cost or valuation, less estimated
residual value, of each asset over its expected useful life, as follows..
Computer equipment- straight line over 3 years
1.8 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related lo the category. Charitsble expenditure includes all expenditure directly
relating to the objects of the Charitable Company, primarily sub-grant expenditure, and is allocated on
an actual cost basis. Governance costs are those costs incurred for the compliance with constitutional
and slatulory requirements, and are allocated on an actual cost basis.
Support costs are those functions that assist the work of the charity but do not directly undertake
charitable aclivilies. Support costs include back Offi￿ costs, finance and governance costs which support
the Trusts aclivilies. The bases on which support costs have been allocated are set out in note 5.
1.9 Investments
Investments held as fixed assets are shown al cost less provision for impairment
1.10 Debtors
Trade and other debtors are recognised al the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid, net of any trade discounts due. Accrued income and tax
recoverable is included at the best estimate of the amounts receivable at the balan￿ sheet date.
1.11 Cash at bank and in hand
Cash at bank and in hand inclLJdes cash and short term highly IiqLJid investments with a short maturity of
three months or less from the date of acquisition or opening of the deposit or similar awounl.
1.12 Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will
probably result in the transfer of funds to a third party and the amount due lo settle the obligation can be
measured or estimated reliably. Creditors and provisions are normally recognised at their settlement
amount after allowing for any trade discounts due.
Provisions are measured at the best estimate of the amounts required to setue the obligation.
1.13 Financial instruments
Financial assets and liabilities are recognised when the charity becomes a party to the conlraclual
provisions of the instrument. All financial assets and liabilities are initially measured at transaction price
(including transaction coslsl.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subs8qU8nlly
measured at their settlement value.
1.14 Unrestricted Funds
Unreslricled funds are funds available for use in accordan￿ with the charitable objectives.
Page 76

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
1.15 Critical accounting estimates and areas of judgement
In the application of the charity's accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated 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 undedying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the eslim8le is revised, if the revision affects only that
period, or in the period of the revision and future periods if the revision affects both current and future
periods.
There are no critical accounting eslimales lo declare.
Detalled comparatlves for the statement of flnanclal actlvltles
Restricted Unrestricted
2023
funds
funds Total funds
Incoming resources
Donations
Charitable actlmlies
60,001
60,001
40,941
557
40,941
other actiiAties
557
Total incoming resources
40,941
60,558
101,499
Expenditure on
Charitable actlmlies
140,9411
148, 1721
17501
189,1131
17501
Gokemance costs
{48,922)
148,9221
Net M0￿ment in funds, being nel
incomel lexpendilurel for the year
11,636
11,636
Total fvnds brought fO￿ard
1695,770) 1695,7701
Fund balance at 31 March
1684,1341 1684,1341
Income from charitable activities
2024
2023
Totsl
Total
Grant funding
40,491
Page 77

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
l income from charitable activities is reslricled.
Income from other activities
2024
2023
Total
Total
Profit on sale of fixed assets
557
Resources expended- Charitable activities
21J24
2024
Support
costs
2024
Direet costs
Total
Grants awarded
Insurances
Cornputer expenses
Other office costs
667
667
931
16671
823
931
1667)
823
1.490
264
1.154
2023
2023
Support
costs
2023
Direct costs
Tolal
Grant8 awarded
84.941
84.941
2.255
581
408
1.195
12611
69.113
Insurances
Cornputer expenses
Oiher office costs
Depreciation
Exchange losses on reyalualion
2.255
581
408
1.195
126T
86.277
2.836
Governance Costs
2024
2023
Independent examiner's fee
750
750
Page 78

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
Net incoming resourcesllrgsourcgs gxpgndgd)
This is slated after charging..
2024
2023
Depreciation of tangible fjxed assets owned by the Trust
Independent examinerfs fee
1,195
750
750
Staff costs
2024
2023
Full lime equivalent emFAoyees
On 1 April 2022 all employees were transferred to the employment of Resilien￿ Brokers Limited, a
100 /0 owned subsidiary of the Trust.
Investments
2024
Cost
Al 1 April 2023
Al 31 March 2024
Net book value
Al 1 April 2023
At 31 March 2024
Subsldlary undertaklngs
The following were subsidiary undertakings of the company..
Name
Class of shares
Holding
Resilience Brokers ￿miled
Ordinary
100Vo
Page 79

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
10. Crgditors.. amounts falling dug Within 1 year
2024
2023
Trade creditors
Accruals
Amounts owed to group undertakings
Other creditors Inole 15
Total
73,425
3,062
201,698
59.000
337.185
73,919
2,498
227.829
98.020
402 266
11. Provisions
2024
2023
Promsion for grants payable
132,000
132,000
12. Croditors.. amounts falling dua in moro than 1 year
2024
2023
Loans payable
91,480
150,480
13. Reconciliation of net (expenditure)lincome to net cash flow from operating activities
2024
2023
Net income l {ex￿nditure) for year
Depreciation and impairment of tangitrAe )Ixed assets
Decrease in debtors
(Decreaseyincrease in credrtors
IDecreaseyincre3se in loans payable
Net cash flow from operalin
aclmties
123.971
11.636
1.195
6.024
72.313
(98.020
{6.852
165.0811
159.0001
(1101
14. Trustee remuneration
No trustees received nor waived any remuneration or expenses during the year12023.. £Nill.
No trustees received any reimbursement for expenses incurred during the year12023.. £Nill.
Page 20

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
15. Rglatgd party transactions
Mame of related
Relationship lo
the Trust
Description of the
transaction
2024
2023
Resilience Brokers Ltd
100% subsidiary Grants paYal￿e
Donation feceNed
Owed to subsidiary
84.941
3.886
201.698 227.829
Professor P Head
Chair
Donation receNed
Owed to Prof Head
98,020
150.480
48,000
248.500
Professor P Head is the Chairman of the Trust. Al the year end, the Charity had loans outstanding to
Professor P Head and Mrs S Head tol811ing £150,480 {2023.. £248,500) ofwhich £59,000 is current {2023..
£68,020).
The loan capitsl is repayable by agreement either in full or part subject to the Trust having sufficient
funding lo do so.
16a. Movements In funds (current yearl
Income
& gains
Expenditure
& losses
At 31 March
2024
2024
Restricted fvnds
Unrestricted funds
{684,134)
126,475
12,504)
{560,163)
Total funds
1684,1341
126,475
12,504}
{560,163)
The narrati￿ to explain the purwse of each ￿nd is gilen al the foot of the note below.
Page 21

the ecological sequestration trust
Notes to the financial statements
for the
ear ended 31 March 2024
16b Movements in funds (prior ygar)
At 1 April
2024
Income
& gains
Expenditure
& losses
At 31 March
2024
Restricted funds
GIZ- De￿lopMent ofa
Mexican sustainability
architecture lo implement
Agenda 2030
40,941
140,941)
Unrestricted fvnds
{695,7701
60,558
148,9221
{684,1341
Total funds
{695,7701
101.499
189,8631
1684,1341
Purposes of restricted funds - 2023
GIZ- Development of a Mexlcan sustalnablllty archltecture to Implement Agenda 2030
The primary objective of the project is the green growth for the slate of Yucatan, Mexico as a key part of
its recovery from the Covid pandemic defined by the following benchmarks..
introduction of integrated systems, and data and modelling approaches that support effective green
growth planning and decision making.,
Co-creation of a strategy and action plan that builds skills and digital infrastructure to support green
growth planning and decision making.
Page 22