**Charity registration number 1212096 (England and Wales)**
## **SATISH KUMAR FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE PERIOD ENDED 31 AUGUST 2025**
## **SATISH KUMAR FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Dr M Nasseri Dr J Rae Dr M D K Armbruster
(Appointed 29 August 2024) (Appointed 2 September 2024) (Appointed 13 September 2024)
**Charity number (England and Wales)** 1212096 **Registered office** 15 Mount View Terrace Totnes TQ9 5EB **Independent examiner** Mrs L Lulek FCA Darnells Chartered Accountants 30 Fore Street Totnes TQ9 5RP **Bankers** Unity Trust Bank PO Box 7193 Planetary Road Willenhall WV1 9DG
## **SATISH KUMAR FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Statement of cash flows|7|
|Notes to the financial statements|8 - 18|
## **SATISH KUMAR FOUNDATION**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2025**
The Trustees present their annual report and financial statements for the period ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Constitution dated 11 February 2025, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
## **Objectives and activities**
## _Objects_
For the public benefit, to promote and advance education in ecology in all its aspects, including in the context of spirituality, philosophy and arts and culture, and to promote the development of skills, capacities and capabilities in relation to caring for the environment, including by:
- providing higher education courses, workshops, and training and by promoting research, ensuring the useful results of such research are disseminated; and
- receiving, allocating and distributing funding to other charities, organisations and/or individuals.
## _Mission of the Charity_
Satish Kumar Foundation exists to advance ecological education for the public benefit, inspiring individuals and communities to translate ecological understanding into meaningful action and to contribute to regenerative and just futures.
The Foundation is inspired by the lifelong work and philosophy of Satish Kumar, whose teachings emphasise the interconnectedness of soil, soul and society. A central aim is to carry forward and deepen the educational legacy of Schumacher College, founded by Satish Kumar in 1991 and internationally recognised for its pioneering approach to ecological and holistic education.
Schumacher College developed a distinctive model of learning that combined rigorous academic inquiry with lived experience, encouraging learners to engage with ecological questions through both intellectual exploration and practical action. This approach has influenced thousands of learners worldwide and inspired many national and international ecological initiatives and learning centres.
Building on this legacy, Satish Kumar Foundation develops and supports educational initiatives that extend the distinctive Schumacher approach while placing stronger emphasis on practical skills, real-world engagement and tangible impact.
## _Activities of the Charity_
The organisation was founded on 29 August 2024 shortly after the announcement of Schumacher College’s closure by the Dartington Hall Trust. It was first formed as a Community Interest Company that same month, and became a registered charity on 11 February 2025.
To achieve its charitable objectives, the Foundation:
- **develops and supports educational programmes, courses and workshops** that promote ecological literacy, systems thinking, interdisciplinary learning and the practical skills needed to respond to environmental and social challenges;
- **supports research and the dissemination of knowledge** relating to ecology, economics, regenerative practices and the social dimensions of ecological transition;
- **builds partnerships with educational institutions, practitioners, local communities and organisations** , with particular emphasis on engaging young people and strengthening skills and leadership for ecological transition;
- **provides charitable funding and support** to individuals and organisations whose work advances ecological education, environmental stewardship and socially just responses to ecological challenges.
- 1 -
## **SATISH KUMAR FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## _Public benefit_
Through these activities, the Foundation aims to benefit learners, practitioners and communities engaged in ecological transition, equipping them with the knowledge, skills and imagination needed to respond to today’s environmental and social challenges.
In planning its activities, the Trustees have had due regard to the Charity Commission’s guidance on public benefit.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
The Foundation’s first period focused primarily on establishment, putting in place the governance, operational and partnership foundations necessary to deliver its charitable objectives. During this period, Trustees were appointed and the organisation’s governance framework was established, including the adoption of key policies and procedures to ensure the Foundation operates in accordance with good practice and Charity Commission requirements.
Notwithstanding the significant work involved in establishing the organisation, the Foundation was pleased to deliver its first educational programmes. During the first period, the Foundation organised more than ten events, including longer learning programmes, short courses and public events delivered both nationally and internationally.
These activities engaged over 350 participants and explored the themes and practices of ecological literacy, systems thinking, consciousness, regenerative practice, creative cultures, ecological economics, participatory regenerative design and poetics of imagination.
These early programmes demonstrated a strong interest in the kind of holistic ecological education the Foundation seeks to provide and generated valuable learning that will inform the development of future programmes.
During the period, the Foundation also received generous support from individual donors, enabling it to begin delivering its first programmes and to lay the foundations for its longer-term charitable activities.
The Trustees are encouraged by the progress made in this first period and remain confident in the Foundation’s direction as it moves into a period of expanded activity.
## **Financial review**
There was a surplus of income over expenditure for the period of £446,044. This reflects the strong support to reopen the Schumacher College following its closure by the Dartington Hall Trust. There was a surplus for unrestricted funds of £223,796 and for restricted funds of £222,248.
Total funds at the year end amounted to £446,044 with unrestricted funds of £223,796 and restricted funds of £222,248.
The free reserves of the Charity at 31 August 2025 were £204,129.
The Trustees would like to thank all those who supported the Charity during the reporting period, including Satish Kumar, Fondation Salvia, the Tedworth Charitable Trust, the Frederick Mulder Foundation, and the Amy B Brown Revocable Trust, as well as generous philanthropic individuals who wish to remain anonymous.
## _Reserves policy_
The Foundation maintains reserves to ensure the continuity of its current activities and educational programmes and to meet contractual commitments to educators and contractors. This provides financial stability and protects delivery in the event of fluctuations in income. Reserves are also designated to support the ongoing fundraising efforts required to secure permanent premises for Schumacher College and safeguard its long-term future.
- 2 -
## **SATISH KUMAR FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## **Plans for future periods**
Following 31 August 2025, the Satish Kumar Foundation will continue to advance its charitable mission of promoting and advancing ecological education. A central priority will be the re-establishment of Schumacher College, a leading ecological college whose name and intellectual property were purchased by the Foundation from Dartington Hall Trust. The Foundation’s mission is to secure the long-term future of the College and restore it as a centre of excellence in holistic and ecological education. This will include developing educational programmes, strengthening partnerships, and raising funds to secure a permanent property from which the College can operate. Fundraising efforts will therefore focus on capital acquisition and establishing a sustainable financial base to support the College’s future activities.
## **Structure, governance and management**
The Charity was incorporated as a community interest company, Satish Kumar C.I.C. on 29 August 2024, company number: 15925200, and converted to a charitable incorporated organisation on 11 February 2025 when it became registered under charity number 1212096. It is governed by its constitution dated 11 February 2025.
The Trustees who served during the period and up to the date of signature of the financial statements were: Dr M Nasseri (Appointed 29 August 2024) Dr J Rae (Appointed 2 September 2024) Dr M D K Armbruster (Appointed 13 September 2024)
## _Recruitment and appointment of trustees_
In selecting individuals for appointment as new Trustees, the Charity Trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
## _Trustee induction and training_
The Charity Trustees will make available to each new Trustee, on or before his or her first appointment, a copy of the current version of the Constitution; and a copy of the latest Trustees’ Annual Report and statement of accounts.
## _Organisational structure_
The Board of Trustees administers the Charity and meets on a regular basis.
## _Risk management_
The Board of Trustees have identified the major risks that the organisation is exposed to and implemented systems to manage those risks.
The Trustees' report was approved by the Board of Trustees.
..............................
Dr M Nasseri **Trustee**
02/04/2026 Date: .............................................
- 3 -
## **SATISH KUMAR FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SATISH KUMAR FOUNDATION**
I report to the Trustees on my examination of the financial statements of Satish Kumar Foundation (the Charity) for the period ended 31 August 2025.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the Charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Insitute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011;
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 to enable a proper understanding of the financial statements to be reached.
Mrs L Lulek FCA Darnells Chartered Accountants 30 Fore Street Totnes TQ9 5RP
13/04/2026 Date: ............................
- 4 -
## **SATISH KUMAR FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE PERIOD ENDED 31 AUGUST 2025**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
236,491
379,440
Charitable activities
**3**
99,071
-
Investments
**4**
2,166
-
**Total income**
337,728
379,440
**Expenditure on:**
Raising funds
**5**
-
14,000
Charitable activities
**6**
113,932
143,192
**Total expenditure**
113,932
157,192
**Net income and movement in funds**
223,796
222,248
**Reconciliation of funds:**
Fund balances at 29 August 2024
-
-
**Fund balances at 31 August 2025**
223,796
222,248|**Total**
**2025**
**£**
615,931
99,071
2,166|
|---|---|
||717,168|
||14,000
257,124|
||271,124|
||446,044
-|
||446,044|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
- 5 -
## **SATISH KUMAR FOUNDATION**
## **BALANCE SHEET**
## **AS AT 31 AUGUST 2025**
|**Notes**
**Fixed assets**
Intangible assets
**11**
Tangible assets
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**14**
**Net current assets**
**Total assets less current liabilities**
**The funds of the Charity**
Restricted income funds
**15**
Unrestricted funds
**16**|**2025**
**£**
600
429,977
430,577
(4,200)|**£**
4,425
15,242|
|---|---|---|
|||19,667
426,377|
|||446,044|
|||222,248
223,796|
|||446,044|
02/04/2026 The financial statements were approved by the Trustees on .........................
.............................. Dr M Nasseri **Trustee**
- 6 -
## **SATISH KUMAR FOUNDATION**
## **STATEMENT OF CASH FLOWS**
## **FOR THE PERIOD ENDED 31 AUGUST 2025**
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**19**
**Investing activities**
Purchase of intangible assets
Purchase of tangible fixed assets
Investment income received
**Net cash used in investing activities**
**Net cash generated from financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of period
**Cash and cash equivalents at end of period**|**2025**
**£**
(4,500)
(15,500)
2,166|**£**
447,811
(17,834)
-
429,977
-
429,977|
|---|---|---|
- 7 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025**
## **1 Accounting policies**
## **Charity information**
Satish Kumar Foundation is a charitable incorporated organisation (CIO) registered in England & Wales. The registered office is 15 Mount View Terrace, Totnes, TQ9 5EB.
## 1.1 **Reporting period**
The financial statements are presented for the period from incorporation on 29 August 2024 to 31 August 2025.
## **1.2 Basis of preparation**
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.3 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.4 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
## **1.5 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Grants are recognised when the terms and conditions attached to the grants have been met or are within the Charity's control to meet.
Donated goods, facilities and services are recognised at their fair value when received, provided that they can be reliably measured.
- 8 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## **1 Accounting policies**
**(Continued)**
Cash donations are recognised on receipt.
## **1.6 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. All expenditure is accounted for on the accruals basis and includes irrecoverable VAT.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Management costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure attributable to meeting the aims and objectives, including the support costs, are included in charitable activities.
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include the costs related to the independent examination and legal fees.
## **1.7 Intangible fixed assets other than goodwill**
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intellectual property rights over 5 years on a straight line basis Database over 5 years on a straight line basis
## **1.8 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings over 5 years on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
- 9 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## **1 Accounting policies**
## **(Continued)**
## **1.9 Impairment of fixed assets**
At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
- 10 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## **2 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
236,491
85,167
Grants
-
294,273
236,491
379,440
**Donations and gifts**
Anonymous donor
123,861
42,232
S Baylis
50,000
-
Bamford Charitable Foundation
30,000
-
Liang Ying
4,888
-
Trustees of Alan & Jane Parker
-
10,000
Carole Bamford
-
30,000
Other
27,742
2,935
236,491
85,167
**Grants**
Fondation Salvia
-
228,326
The Tedworth Charitable Trust
-
30,000
The Frederick Mulder Foundation
-
10,000
The Amy B Brown Revocable Trust
-
21,800
Aprendiendo a Ser
-
4,147
-
294,273|**Total**
**2025**
**£**
321,658
294,273|
|---|---|
||615,931|
||166,093
50,000
30,000
4,888
10,000
30,000
30,677|
||321,658|
||228,326
30,000
10,000
21,800
4,147|
||294,273|
**3 Income from charitable activities**
||**Unrestricted**|
|---|---|
||**funds**|
||**2025**|
||**£**|
|**Promote and advance education in ecology**||
|Course fees|99,071|
- 11 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE PERIOD ENDED 31 AUGUST 2025**
## **4 Income from investments**
||**Unrestricted**|
|---|---|
||**funds**|
||**2025**|
||**£**|
|Interest receivable|2,166|
## **5 Expenditure on raising funds**
||**Restricted**|
|---|---|
||**funds**|
||**2025**|
||**£**|
|**Fundraising and publicity**||
|Seeking donations, grants and legacies|14,000|
- 12 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## **6 Expenditure on charitable activities**
||**Promote**|
|---|---|
||**and advance**|
||**education in**|
||**ecology**|
||**2025**|
||**£**|
|**Direct costs**||
|Depreciation and impairment|333|
|Teaching costs|83,813|
|Venue hire|83,989|
|Catering costs|8,045|
|Travel and accomodation costs|5,564|
|Consultancy|9,000|
|Management fees|16,000|
|Advertising and promotion|21,372|
|Office and administrative expenses|11,480|
|Insurance|421|
|Storage|2,701|
|Computer costs|467|
|Subscriptions|5,272|
||248,457|
|**Share of support and governance costs (see note 7)**||
|Support|4,137|
|Governance|4,530|
||257,124|
|**Analysis by fund**||
|Unrestricted funds|113,932|
|Restricted funds|143,192|
||257,124|
## **7 Support costs allocated to activities**
|Bank charges
Sundry costs
Governance costs
**Analysed between:**
Promote and advance education in ecology|**2025**
**£**
3,730
407
4,530|
|---|---|
||8,667|
||8,667|
- 13 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
|**7**|**Support costs allocated to activities**|**(Continued)**|
|---|---|---|
|||**2025**|
||**Governance costs comprise:**|**£**|
||Independent examiner's fees - external scrutiny|2,000|
||Independent examiner's fees - other services|1,800|
||Legal and professional|730|
|||4,530|
## **8 Trustees**
Dr Mona Nasseri, Trustee, received fees for managing the Charity of £16,000 in the period. Payment is in accordance with The Charity Commission rules.
None of the other Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the period.
## **9 Employees**
The Charity had no employees in the period.
## **10 Taxation**
The Charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **11 Intangible fixed assets**
|**Intellectual**
**property rights**
**Database**
**£**
**£**
**Cost**
At 29 August 2024
-
-
Additions - separately acquired
2,000
2,500
At 31 August 2025
2,000
2,500
**Amortisation and impairment**
At 29 August 2024
-
-
Amortisation charged for the period
33
42
At 31 August 2025
33
42
**Carrying amount**
At 31 August 2025
1,967
2,458|**Total**
**£**
-
4,500|
|---|---|
||4,500|
||-
75|
||75|
||4,425|
- 14 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
|**12**|**Tangible fixed assets**||
|---|---|---|
|||**Fixtures and**|
|||**fittings**|
|||**£**|
||**Cost**||
||Additions|15,500|
||At 31 August 2025|15,500|
||**Depreciation and impairment**||
||Depreciation charged in the period|258|
||At 31 August 2025|258|
||**Carrying amount**||
||At 31 August 2025|15,242|
|**13**|**Debtors**||
|||**2025**|
||**Amounts falling due within one year:**|**£**|
||Prepayments and accrued income|600|
|**14**|**Creditors: amounts falling due within one year**||
|||**2025**|
|||**£**|
||Trade creditors|400|
||Accruals and deferred income|3,800|
|||4,200|
- 15 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## **15 Restricted funds**
The restricted funds of the Charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 29 August**|**Incoming**|**Resources**|**At 31 August**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|Schumacher Wild Project|-|200,000|(118,666)|81,334|
|Collective accreditation event|-|6,326|(6,326)|-|
|Collective accreditation project|-|22,000|(2,200)|19,800|
|Fundraising|-|40,000|(14,000)|26,000|
|Bursaries (Foundation course)|-|16,000|(16,000)|-|
|Bursaries (Poetics of Imagination course)|-|5,800|-|5,800|
|Trustee travel expenses|-|4,147|-|4,147|
|New premises|-|85,167|-|85,167|
||-|379,440|(157,192)|222,248|
The restricted income funds of the Charity arising through its activities are as follows:
Schumacher Wild Project - The project was launched in December 2024 to safeguard and reimagine the mission of Schumacher College following its closure. The initiative was designed not only to preserve the College’s distinctive legacy of holistic education, but also to prepare the foundations for its renewal in a financially resilient and contemporary form.
Collective accreditation event - Funding received for a two-day collective accreditation workshop held in February 2025 in Ditisham, Devon, hosted by the Satish Kumar Foundation and held at Eloma.
The event brought together representatives and academic experts from a number of learning institutions to explore:
- Pathways to academic accreditation
- The potential for a collaborative ecosystem of ecological institutions
- The feasibility of a shared accrediting framework
Collective accreditation project/ Accreditation Strategist role - As a result of the workshop and subsequent inter-institutional dialogue, a dedicated Accreditation Strategist role was proposed to explore a formal UKbased collective accreditation model. The role focuses on investigating collaborative accreditation pathways between Schumacher College, Black Mountains College, Alef Trust and The Apricot Centre.
This position was intended to assess structural, legal, and academic frameworks for a shared or collective accreditation approach.
Fundraising - The initiative aims to raise approximately £4 million to secure and adapt a permanent home for Schumacher College, safeguarding its legacy of transformative ecological education.
Bursary and scholarship funds - Bursaries are intended to provide financial support to applicants in need who wish to join the Schumacher programmes, enabling them to inspire their wider communities and enrich the learning experience through their unique perspectives and contributions. The Satish Kumar Foundation seeks to encourage a diverse and inclusive cohort of participants.
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## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025**
## **15 Restricted funds**
## **(Continued)**
Trustee travel expenses - Funding was secured to cover travel expenses for Trustees of the Satish Kumar Foundation in support of key meetings, strategic planning sessions, and site visits related to the College’s redevelopment.
New premises - In July 2025, Satish Kumar initiated a capital fundraising campaign to secure new premises for the re-establishment of Schumacher College.
The campaign aims to raise approximately £4 million to acquire and adapt a suitable property that will provide a permanent home for the College and support its long-term renewal.
## **16 Unrestricted funds**
The unrestricted funds of the Charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes.
||**At 29 August**|**Incoming**|**Resources**|**At 31 August**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|General funds|-|337,728|(113,932)|223,796|
|**Analysis of net assets between funds**|||||
|||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**||
|||**2025**|**2025**|**2025**|
|||**£**|**£**|**£**|
|**At 31 August 2025:**|||||
|Intangible fixed assets||4,425|-|4,425|
|Tangible assets||15,242|-|15,242|
|Current assets/(liabilities)||204,129|222,248|426,377|
|||223,796|222,248|446,044|
## **17 Analysis of net assets between funds**
## **18 Related party transactions**
Dr Mona Nasseri, Trustee, received fees of £16,000 in the period for managing the Charity. This was in accordance with Charity Commission rules. There were no other disclosable related party transactions during the period.
- 17 -
## **SATISH KUMAR FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE PERIOD ENDED 31 AUGUST 2025**
|**19**
**Cash generated from operations**
Surplus for the period
**Adjustments for:**
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
**Movements in working capital:**
(Increase) in debtors
Increase in creditors
**Cash generated from operations**
**20**
**Analysis of changes in net funds/(debt)**|**2025**
**£**
446,044
(2,166)
333
(600)
4,200
447,811|
|---|---|
The Charity had no material debt during the year.
- 18 -
SATISH KUMAR FOUNDATION
MANAGEMENT INFORMATION
FOR THE PERIOD ENDED 31 AUGUST 2025
## **SATISH KUMAR FOUNDATION**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 AUGUST 2025**
|**Income from:**
**Donations and legacies**
Donations and gifts
Grants
**Charitable activities**
Course fees
**Investment income**
Interest receivable
**Total income**
**Resources expended:**
**Fundraising expenses**
Seeking donations, grants and legacies
**Charitable activities**
Depreciation and amortisation
Teaching costs
Venue hire
Catering costs
Travel and accomodation
Consultancy
Management fees
Advertising and promotion
Office and administrative expenses
Insurance
Storage
Computer costs
Subscriptons
Share of support costs
Share of governance costs
**Net movement in funds**|**Period**
**ended**
**31 August**
**2025**
**£**
**£**
321,658
294,273
99,071
2,166
717,168
14,000
(14,000)
333
83,813
83,989
8,045
5,564
9,000
16,000
21,372
11,480
421
2,701
467
5,272
4,137
4,530
(257,124)
**446,044**|
|---|---|
- 19 -
## **SATISH KUMAR FOUNDATION**
## **SUPPORT AND GOVERNANCE COSTS FOR THE PERIOD ENDED 31 AUGUST 2025**
|**Support costs**
Bank charges
Sundry costs
**Governance costs**
Independent examination fees
Accountancy
Legal and professional|**Period**
**ended**
**31 August**
**2025**
**£**
**£**
3,730
407
4,137
2,000
1,800
730
4,530
**8,667**|**Period**
**ended**
**31 August**
**2025**
**£**
**£**
3,730
407
4,137
2,000
1,800
730
4,530
**8,667**|
|---|---|---|
|||4,137
4,530|
|||**8,667**|
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