Retssource
Registered Charity
Number 1151318
RE:SOURCE BLACK8URN
IA Charitable Incorporated Organisationl
ACCOUNTS AND TRUSTEES, REPORT
FOR THE YEAR ENDED
31st March 2025
t 07377 63033
e info@exchangeblackburn.org.uk
w www.ey¢hangebl8ckburn.org.uk
Registered addre55'. The Exchange, 71-73 King William Street, Blackbum. BBI 7DT

Re",Source
RE:SOURCE BLACKBURN
Index
for the year ended 31st March 2025
Page
Referente and administrative infomiation
Tru5tee5' report
Independent examiner's report
Statement of flnantlal activities
Balance sheet
Notes to the financial statements
9.14
t 07377 63033
info@exchangeblackburn.org.uk
w www.exchangeblackbtsrn.org.uk
Reglstered address.. The Exchange, 71-73 King William Street. Blackburn, BBI 7DT

Retssource
RE:SOURCE BLACKBURN
Reference and administrative information
for the year ended 31st March 2025
Trustees:
Mr J McGregor
Mrs J Murdoch
Mrs J Mitchell
DrA Murdoch
Mr D S Bamber
Dr H LalDin
Chair
Appolnted 25.2.25
Charity number..
1151318
Operational address..
The Exchange
71-73 King William Street
Blackburn
8817DT
Reglstered office:
The Exchange
71-73 Kln8 William Street
Blackburn
BBI 7DT
Bankers:
The Cooperative Bank pl¢
PO 8ox 101
l Balloon Street
Manchester
M60 4EP
Independent Examiner..
J A Fell & Company
Chartered Accountants
40 Hoghton Street
Southport
PR9 OPQ
Sollcitors..
Mounteney Sollcltors Llmlted
22 The Bramhall Centre
Bramhall
Stockport
Cheshire
SK7 IAW
t 07377 63033
e info@exchdngeblackburn.org.uk
w www.exchangeblackbum.org.uk
Re81Stered address.. The Exchange, 71-73 King William Street. Blackburn. BBI 7DT

Retssource
RE.'SOURCE BLACKBURN
Trustee's annual report
for the year ended 31st March 2025
Strurture. governance and management
The charity is a charrtable incorporated organisation ICIOI and governed by its constitution 21st March 2013. Thls constitution
established the objects and powers of the charity, without voting members other than its trustees. In the event of the charity
being wound up, the trustees are not required to contribute to its assets and have no personal responslbility for settling its debt5
Rècruitment and appolntment of trustees
Under the constitution, apart from the first charity trustees, every trustee must be appolnted for a term of foL¢r years bv
resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charitv
trustees, the charlty trustees have regard to the skllls, knowledge and experlente needed for the effective administration of the
CIO. Business, leadershlp, teachlng, medlcal, dental, entrepreneurlal and church leodership skills are well represented In the
current trustees.
Trustee Indurtion and tralnlng
The charity trustees make available to each new charlly trustee, on or before hSs or her flrst appointment a copy of the
constitution and any amendments made to It and a copy of the CIO'S latest Trustees, Annual Report and statement of accounts.
Th15 is added to by Intenslve face-to.face meetlngs.
Or8an15atlonal structure
There are slx trustees from varying professlonal back8rounds who meet at least quarterly. They are responslble for the strategic
direction and policy of the tharity. They take on varying responsibilities for the charlty depending on thelr profe5slonal
background and skills.
Objectives and acllvltles
The primary objectives of the chzrity are..
to further or benefit the residents of Blackburn wlth Oarwen and the nelghbourhood, without distinction of sex, sexual
orientation, race or of political, religious or other opinions by 3550ciating tO8ether the said residents and the local
authorltles, voluntary and other organlsatSons in a common effort to advance education and to provide facilities in the
interests of social welfare for recreation lelsure tlme occupation wSth the objectSve of improvlng the conditions of life for
the resldents. In the particular furtherance of the object outlined in this Clause the trustees shall have power (but not the
obllgationl to establish or secure the establishment of a community centre and to maintain or manage or co-operate
wlth any statutory authority in the malntenance and management of such a centre for activities promoted by the charity
in furtherance of the object outlined in this clau5e,'
to relleve slckness and preserve health among people residing permanently or temporarily in Blackburn with Darwen.
to advance the Christian religion for the benefit of the public in accordance with the doctrine outllned in the apostle's
creed.
t 07377 63033
e info@exchangeblackburn.org.uk
w www.exchangeblackburn.org.uk
Reglstered address.. The Exchange, 71-73 King William Street, Blackburn, BBI 7DT

Re,Source
RE.'SOURCE BLACKBURN
Trustee's annual report
for the year ended 31st March 2025 Icontlnued}
Achievements and Perfomance
The charity purchased the former Cotton Exchange on 4th September 2015, rescued it from continued derelirtion by repairs to
roofs and window5 and temporarily refurbished the lower ground floor to make it usable. This was achieved by 1st May 2016.
The upper floor ha5 been able to host 600 people since April 2017.
Re:Ignite Church continues to be based at The Exchange, 81ackburn, meeting there on Sunday mornings and their licence to use
the lower floor of the Exchange restarted in June 2021.
There are six Trustees who continue to develop as a team focused on seeing the restoratlon of the Exchange Building for the
ultlmate beneflt of the people of Blackburn with Darwen. We are developing excellent external partnershlps to further adv15e
and support the work of the Trustee Board.
We are beneficiaries of a generous grant from Blackburn with DanKen Borough Councll whlch has meant that during the financlal
year ending March 2025 we made a number of decisions that would signlficantly progress the objectives of the charSty-
We eommlssloned a totsl spend of £1.5m to commence later In 2025 whlch would dellver the refurblshment of the Tower Area,
elements of the 19205 extension, open up acces5 to all three levels and install restroom facilitie5,
These planned works have In turn required the team to make the dlfflcult decislon to tease our ongolng program of events,
brlnglng our income streams down to minlmal leve15 whlch in turn will not support the continued employment of a management
team and staff.
We made this detlsion early to allow the team members to seek alternatlve employment and asslsted where it Is p0551ble to
create alternative opportunltles for the team.
Whlle we are preparing for the refurblshment works for the Tower we are gearing up to submit an Expression of Interest to
National Lottery Herltage Fund to access a Development Grant and Delivery Grant to continue the restoratlon of the Exchange
Bulldlng.
How our actlvltles dellver public beneflt
The trustees conflrm that they have had regard to the Charity Commlsslon's guidanee on public benefit when setting the
oblectives and assessing thelr actSvltles. The publlc benefit for the transformation of the Cotton Exchan8e will be very slgnif5cant
Indeed. This could revolutlonise attitudes both to Blackburn and In Blackburn and wlll be useable by all sectlons of socletv
wlthout èny exclusions.
Flnan¢lal revlew
The result5 for the year and the state of the charity's affairs as at 31 March 2025 are set out in the flnancial statements following.
During the year the charlty received Income of £ 346,30512024 £254,989) and had outgolngs of £112,129 12024 £206,687),
leaving a net surplu5 of £234,176 12024-surplus £48,302). The grant received from Blackburn with Darwen Councll of £1,312,953
for refurblshment has been carried fonKard for matching against the expenditure funded by the grant which the tharity will
incur in 2025126.
Reserves pollcy
The trustees have asse55ed the charity's reserves requirements and have agreed that free reserves equal to 3 months,
operational expenditure should be malntalned which amounts to around £15,000.
Payment to Trustees
Our constitution states at paragraph 6..
111 ' Benefits and payments to charity trustees and connected persons", that no charity trustee or connected person may Sell
services, unle55 the payment is permitted by sub clause 2 of thls clause, which state5 that..
lal A charlty trustee may receive a benefit from the CIO as a beneficiary of the CIO provlded that a malorlty of charlty trustees do
not benefit in this way.
Ibl A charity trustee or connected person may enter into a contract for the supply of servlces to the CIO where that Is permltted
in accordance with, and subject to the conditions in, section 73A to 73C of the Charities Act 1993.
No trustees recelved any benefit from Re.'Source Blackburn CIO.
t 07377 63033
e lnfo@exchangeblackburn.org.uk
w www.eychangeblackbum.org.uk
Registered address.. The Exch?nge, 71-73 King William Street, Blackburn, BBI 7DT

Re"Source
RESOURCE •UCK8UAM
IN th• ￿llendId Jlrt M•tth 1015 Imntlnutdl
Lw appllc4ble io thlrltlts In Eniland and Wlles requlre the trustees to prepare the ItnandJl statements lor exh Iln•n¢lal year
whlth ￿ve a tnje and laSr vlthv ofthe tharfvs finandal attmtles durfng the ye•f ind of Its Ilnanclll posltlon at the errfl of thè
yèar. In those fini￿111 statèments, the trustees are requlred to:
select sultsble account1￿ pallde5 and apply them consSstently,'
makè lud8tments and *s￿MItt$ that are rea￿￿•ble and pwdent,.
stsie wheiher appllcable accoun￿￿ standards and statements ol ￿E0Th￿nended practl£e have be¢n followeil, subJert t¢
any deparnjros dlsdosed and eyplalned In th¢ ftmrdal ststemenls; and
piepire the fmandl s¢atements on • goln8 COTr￿1n ￿31$ unless It Is Inapproprlaie to pièsume that ihe thaTIty ￿11
conunue In operntlon.
The Ynstees Ire reSp)n￿ble for keeplng aca)unlln8 records whlth dlsclose wlth reasonable accurncy It any tlme the fiNnd•l
iilon of the chadty aThJ enable them to ensure ihat the finar￿al sratements comply wlth the tharltles Art 2011. Ttw a
resm)nslbk lor MIeg￿rdIng the assets of the th•dty ind hence for taklng rtasonable steps lor the pre¥entlon and detecdon of
ud ind ol￿r Irrtgularflles.
2D
Thls rep)rt was approved by the trusiees on.-....... .........
and sl8Md on thtlr b4h?11 b¥:
john James M¢Gf¢8Of - Chalr
t 07377 63033
Info@exth3n8ebla¢kburn.org.uk
w ¥¥w.exchangeb1ackburn.o￿Uk
Re8lsteTed addTe55: The Ex(hart8e, 71-73 KID8 Wllliam Street, 81ackbum, BBI 70T

Re".Source
RE:SOURCE BLACKBURN
Independent examlner's report to the trustees of Re:Source Blackbum
I report to the trustees on my examination of the financial statements of Re-source Blackburn for the year ended 31st March
2025.
ResponslbilltSes and basis of report
The charity's Trnstees are responsible for the preparation of the financial statements. The charlty's Trustees consider that an
audit is not required for this year under section 144121 of the Charities Act 20111 the 2011 Act l and that an independent
examination is needed.
It is my responsibility to..
examine the financial statements under section 145 of the 2011 Act,.
to follow the procedures laid down in the general Directlons glven by the Charity Commission under section 14515llbl of
the 2011 Act; and
to state whether particular matters have Come to my attention.
Basls of independent examlner's Statement
My examlnatlon was carrled out In accordance wlth the general Directions given by the Charlty Commlsslon. An examination
Includes a review of the accounting records kept by the charlty and a comparlson of the financial statements presented with
those records. It also includes consideratlon of any unusual Items or dlsclosures in the financial statements, and seeking
explanatlons from you as trustees concernlng any such matters. The procedures undertaken do not provlde all the evidence that
would be fequired in an audit and consequently no opinlon is 8iven as to whether the financial statements present a 'true and
falr view, 3nd the report15 Ilmlted to those matters set out In the next statement.
Independent examlner's statement
In connecdon wlth my examlnatlon, no matter has come to my attenlon,.
whlch glves me reasonable cause to belleve that In any materlal respect the requlrements..
lil to keep accounting records in accordance with section 130 of the 2011 Act,. and
1111 to prepare financial Statements which accord with the accounting records and Comply wlth the accounting requirements
of the 2011 Act,.
have not been met or
Ibl
to which, in my opinion, attentlon should be drawn In order to enable a proper understandlng of the financlal
statements to be reached.
Ollver J Gri115 F
for and on behalf of J A Fell and Company.
Chartered Accountants
Date:
40 Hoghton Street,
Southport,
PR9 OPQ
t 07377 63033
e info@exchangeblackburn.org.uk
w www.exchangeblackburn.org.uk
Registered address.. The Exchange, 71-73 King William Street, Blackbum, BBI 7DT

Re."Source
RE:SOVRCE BLACKBURN
Statement of Financial Adivitle5
for the year ended 31st March 2025
Unrestricted Restricted
Funds
Funds
2025
2025
Total
Funds
2025
Total
Funds
2024
Note
INCOMING RESOURCES
Donations and Erants
Other trading attivities
Investments
TOTAL INCOMING RESOURCES
14,045
8,982
24
23,051
323,254
337,299
8,982
24
346,305
232,476
22,513
323,254
254,989
RESOURCES EXPENDED
Charltable actlvitles
Other expenses
TOTAL RESOURCES EXPENDED
13,100
10,530
23,630
88,499
101.599
10,530
112,129
206,687
88,499
206,687
NET INCOME 8EFORE TRANSFERS
15791
234,755
234.176
48,302
Transfers
14
263,201
1263,2011
Total funds brought fornard
13
804,825
39,821
844,646
796,344
Total funds carrled forward
13
1,067,447
11,375
1,078.822
844.646
All of the above results are derlved from contlnulng actlvltles. All gains and losses recognlsed In the year are included above.
The notes on pages 9 to 14 form part of these flnancial statements.
t 07377 63033
e info@exchangeblackburn.org.uk
w www.exchangeblackburn.org.uk
Registered address: The Exchange, 71-73 King William Street, Blackburn, BBI 7DT

Re'.Source
lIE￿)￿￿(E •LACXBURN
I•￿4 Shrtl
Bi •13tst X115
2025
1024
FIXED ASSETS..
T•wlblt Assets
lJJ31,705
830,156
CURAENT ASSETS:
0*￿￿r%
Cjsh at ￿rtk Ind In hind
10.420
1.347,987
1.363.407
16.6S6
14J(
CURRENT LIABiunES:
Credliory due In less th•n one yeaf
io
I1.316.￿1)
13,9101
TOTAL ASSErs
IHE FUNDS OF THE OIAArrY:
Unrestrlctetl funds
Ae5tr1dod funds
13
14
1.067,447
IlJ7S
04￿25
39,821
201i.p..IzK
The fi￿nd•1 suiemonts w•r• approved and authorlsed loi Issue by the irusi••s on.-....
slined on iheli ￿h*ll ￿..
John J•m*s MEGre8or- Chalr
The notes on y8e$ 9 10 14 Iofm part ol ihese Ilninclal Stsl¢meftu.
07377 $3033
Inlo@eMth¥ng*blackbum.or8.vk
w www.exchanieblacktr￿rn.trr¥.uk
Re8lst¢red address.. The E*¢hanie. 71.73 Kln8 Wllllam SIYteL BlaCkbU￿ 88170T

Re"Source
RE:SOURCE BLACKBURN
Notes to the Financial Statements
for the year ended 31st Marth 202S
Accountlng polides
Charlty Information
Re:Source Blackburn is a Charitable Incorporated Organisation registered with the Charity Commission
Basls of Preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been
prepared in accordance with the second edition of the Charities Statement of Recommended Practice ISORP FRS1021
issued in October 2019 , the Financial Reporting Standard applicable to the United Kingdom and the Republic of Ireland
IFRS 1021 and the Charities Act 2011.
The charlty is a public beneflt entity as defined by FRSIO2.
The financial 5tstements are prepared in sterlin81 which is the function81 currency of the charlty.
Fund Accountlng
Unrestricted funds are available for use at the discretlon of the trustees In furtherance of the general objectives of the
charlty and which have not been designated for other purposes.
Designated funds would comprise unrestricted funds that have been Set aside by the trustees for partlcular purposes.
The aim and use of each designated fund will be set out In the notes to the financial statement5 where applicable.
Restrlcted funds are funds which are to be used in accordance wlth speclflc re5trlctions Imposed by donors or whlch
have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged
agalnst the specSfic fund. The aim and use of each restrirted fund will be set out in the notes to the financlal statements
where appllcable.
Income and Glft Ald
All Incomlng resources are included In the SOFA when the charity is legally entltled to the income and the amount can be
quantified with reasonable accuracy. For legacies, entltlement is the earller of the charlty belng notlfied of an Impending
distributlon or the legacy being received.
Gifts in kind donated for dlstrlbution are Included at valuatlon and recognlsed as Income when they are distrlbuted to
the projects. Glfts donated for resale are included a5 income when they are 501d. Donated facilltle5 are Included at the
value to the charity where this can be quantlfled and a third party is bearing the cost. No amounts are included in the
financial statements for services donated by volunteers.
Grant Income
Grants received that are performance-related or sublect to speclflc service dellvery conditlons are recognlsed as Income
In the perlod In whlch the related services are provided.
Where a grant is recelved in advance of the seivS¢e dellvery perlod. it Is deferred and recognlsed as a Ilablllty in the
balance sheet. Income is then released to the Statement of FlnancSal Actlvltles ISOFAI on a systematic basis over the
period in which the charity delivers the agreed services. reflecting the pattern of the charity's fulfilment of Its obligatSons
under the grant agreement.
t 07377 63033
info@exchangeblackbum.org.uk
w www.exchangeblackburn.org.uk
Registered address-. The Exchange, 71-73 King William Street. Blackburn, 8BI 7DT

Re."Source
RE:SOURCE BLACKBURN
Notes to the Flnancial Ststements
for the year ended 31st March 2025 Icontlnued)
Accounting policies Icontirtuedl
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs
related to the category. Where costs cannot be directly attributed to partlcular heading5 they have been allocated to
activities on 8 basis consistent with use of the resources. Premises and other overheads have been allocated accordlng
to the level of activity undertaken throughout the year.
Fund-raislng costs are those incurred in seekln8 voluntary contributlons and do not Include the costs of disseminating
information In support of the charitable activities. Governance costs are those Incurred in connectlon with
dministratlon of the charity and compliance with constitutlonal and ststutory requirements.
Taxatlon
The charlty has operated in accordance wlth Its charltable objects and Is therefore exempt from taxatlon.
GolnB Concern
At the time of approving the financial statements, the trustees have a reasonable expectatlon that the charSty h35
adequate resources to continue, therefore the flnancial statements have been prepared on the golng concern basis.
Tangible flxed assets
Individual assets acquired at a cost of more than £500 whlch are Sntended for use on a continuing basls Sn the charity's
actlvities have been capitalised. Depreclatlon Is provlded using the followlng rates to reduce, by annual instalment5, the
cost, less estlmated residual value, of the tangible assets over their estimated useful lives..
Land and bL¢lldinBs
Fixtures and eqLsipment
0% per annum on cost
20% per annum on the net book value
Stock
Stock is valued at the lower of cost and net realisable value.
i.io
Retlrement benellts
Payments to defined contrlbutSon retlrement benefit schemes are chargefj as an expense as they fall due.
i.ii
Deferred income
Amounts received in advance of entltlement are recorded as deferred income wlthin credltors. These amounts are
subsequently recognised as income when the charity becomes entitled to the funding through the delivery of the
specified seNlces.
1.12
Related parties
Detalls of related party transactlons are In note 12 to the accounts.
Income from donatlons and grants
Current year
Unrestrirted Restricted
Funds
Funds
2025
2025
Total
Funds
2025
Total
Funds
2024
Donations
Grants received
14,045
14,045
323,254
337,299
22,207
210,269
232,476
323,254
323,254
14,045
t 07377 63033
e info@exchangeblackburn.org.uk
w www.exchangeblackburn.orE.uk
Registered addres5: The Exchange, 71-73 King William Street, Blackburn, BBI 7DT
io

Re(3Source
RE,.SOURCE BLACKBURN
Note5 to the Flnanclal Statements
for the year ended 31st March 2025 (Continued)
2 cont. Income from donations and grants
Prlor year
Unrestricted Restricted
Fund5
Funds
2024
2024
Total
Funds
2024
Donations
Grants received
22,207
1,000
23,207
22,207
210,269
232,476
209,269
209,269
Other trading activities
Current year
Unrestrlcted Restrlcted
Funds
Funds
2025
2025
Total
Funds
2025
Total
Funds
2024
Rents recelved
Café sales
Book sales
8,502
153
327
8,982
8,502
153
327
8,982
22,064
449
22,513
Prior year
Unrestrlrted Restrlrted
Funds
Funds
2024
2024
Total
Funds
2024
Rents received
Café sales
22,064
449
22,513
22,064
449
22,513
Investment Income
Current year
Unrestrl¢ted Restrlrted
Funds
Funds
2025
2025
Total
Funds
2025
Total
Funds
2024
Bank Interest recelved
24
24
Cost of charltable actjvlties
Current year
Unrestricted Restrlrted
Funds
Funds
2025
2025
Total
Funds
2025
Total
Funds
ZOZ4
Wages and salaries
Rent and Insurance
Repair5 and equipment
Consumables
Administration and subscrlptions
Light and heat
Rates ar¢d water
Webslte costs and marketing
Bank charges
Telephone and Internet
Consultancy and legal fees
Travel
Event costs
Trainlng costs
Sundry costs
Accountancy & independent examination
Donations
Depreciatlon
44,453
7,590
7,145
44,453
8,131
7,145
171
345
17,603
5,622
2,011
42
1.286
67,363
9,347
18,929
928
1,636
15,382
3,347
3,430
541
171
345
1.170
373
2,011
16,433
5,249
39
1,201
85
992
67,269
1,965
3,868
2,915
2,428
950
1,420
4,513
45S
341
455
341
560
194
3,661
2,728
4.221
2,922
1,032
5.819
1,032
5,819
13,100
88,499
101.599
206,687
t 07377 63033
lnfo@exchangeblackburn.org.uk
w www.exchangeblackburn.org.uk
Registered addre5s'. The Exchange, 71-73 King William Street. Blackburn. BBI 7DT
li

Re"Source
RE:SOURCE BLACKBURN
Notes to the Financial Statements
for the year ended 31st March 2025 (Continued)
5 cont. Cost of charltable activities
Prior year
Unrestricted Restrirted
Funds
Fund5
2024
2024
Total
Funds
2024
Wages and salarie5
Rent and insurance
Repairs and equipment
Consumables
Administration and subscrlption5
Light and heat
Rates and water
Website costs and marketing
Bank charges
Telephone and internet
Consultancy and legal fees
Travel
Event costs
Training costs
Sundry costs
Accountancy & independent examinatlon
Donatlons
Depreciatlon
67,363
67,363
9,347
18,929
928
1,636
15,382
3,347
3,430
9,347
18,929
928
565
15,382
3,347
1,071
3,430
992
992
67,269
1,965
3,868
2,915
2,428
950
1,420
4,513
206,687
67,269
1.815
3,519
2,915
1,428
150
349
1,000
950
1,420
4,513
38,948
167,739
Other expenses
Unrestrirted Restrlrted
Funds
Funds
2025
2025
Total
Funds
2025
Book costs
Less: closlng stock
15,530
15,0001
10,530
15,53D
15,0001
10,53Q
Fixed Assets
Land and FSxtures and
Buildings
Equipment
Total
Cost
At 31st March 2024
Additions
At 31st March 2025
Depreclation
At 31st March 2024
Char8e for the year
At 31st March 2025
Net book value
At 31st March 2025
At 31st March 2024
818,009
200,738
1,018,747
22,565
6,530
29,095
840,574
207,268
1,047,842
10,318
5.819
16,137
10,318
5,819
16,137
1,018,747
818,009
12,958
12,247
1,031,705
830,256
2025
2024
Stock
Stock of books
5,000
t 07377 63033
info@exchangeblackbum.org.uk
w www.exchangeblackburn.org.uk
Registered address: The Exchange, 71-73 King William Street, Blackburn, B817DT
12

Re",Source
RE:SOURCE BLACKBURN
Notes to the Financial Statements
for the year ended 31st March 2025 Icontlnuedl
Debtors
2025
2024
Other debtors
VAT
10,420
10,420
1,644
io
Creditors due in less than one year
2025
2024
Deferred income
PAYE
Other creditors
Accruals
1,312.953
2,478
532
900
3,910
2,437
900
1,316,290
li
Employees and trustees
The charity employed 3 part-tlme admlnistratlon staff members and other workers Irregularly during the year. No
employee earned over £60,000 in the year and no trustee received any remuneration.
2025
2024
Employment costs
Wages and salaries
Social securlty costs
Other pension Costs
43,933
66,198
520
44,453
1,165
67,363
Iz
Related PartyTransactlons
During the year the charity recelved donatlons from Re:18nlte Church of £12,00012024 £24,037) and rental Income of
£6,78512024 £6,785). The charlty also recelved an Interest-free loan from Re'.Ignlte of £15,000 whlch was repald In the
year. Two of the trustees for Re'.18nlte are also Trustees of Re.'Source.
Statement of funds
Balance
at l Aprll
2024
13
Balance
at 31 March
2025
Movement In year
Expendlture
Income
Transters
Unrestrlcted funds
Restrlcted fvnds
804,825
39,821
23,OSI
323,254
123,6301
263,201
188,4991 1263,2011
1,067,447
11,375
Total funds
844,646
346,305
1112,1291
1,078,822
14
Restrl¢ted fund$
Balance
at l April
2024
Balance
at 31 March
Movement In year
Expendlture
Income
Transfers
2025
B13ckburn wlth Darwen
National Lottery Heritage Fund
272,047
51,207
323,254
37,292
51,207
88,499
1223,3801
139,8211
1263,2011
11,375
39,821
39,821
11,375
The charity has expended £263,201 of restrlcted funds on the acquisition of fixed assets in accordance with the terms of
the relevant funding. As these assets are now capitalised on the balance sheet and will be L¢sed for the charity's general
purposes over their useful life, a corresponding transfer of £263.201 has been made from restricted funds to
unrestricted funds. This transfer reflects the release of the restflction, as the funds have been applied in line with donor
intent and the assets are no longer subject to specific restrlctions.
t 07377 63033
e info@exchangeblackbum.org.uk
w www.exchangeblackburrs.org.uk
Registered address.. The Excharsge, 71-73 King William Street, Blackburn, 8817DT
13

Re"Source
RE:SOURCE BLACKBURN
Notes to the Flnanclal Statements
for the year ended 31st March 2025 {Continuedl
15
Analysis of net assets between funds
Restricted Unrestrlcted
2025
2025
Total
Z025
Total
2024
Fixed assets
Net current assets
1,031,705
35,742
1,067,447
1,067.447
11,375
1,078,822
830,256
14,390
844,646
11,375
11,375
t 07377 63033
info@exchangeblackbum.org.uk
w www.exchangeblackburn.org.uk
Registered address.. The Exchange, 71-73 King William Street, Blackburn, BBI 7DT
14