THE SHOLLOND TRUST
(Registered charity no. 1059551)
REPORT AND RECEIPTS & PAYMENTS ACCOUNTS For the year ended 31 December 2021
CONTENTS
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' Report | 2 |
| Independent examiner's report | 4 |
| Receipts and payments account | 5 |
| Statement of assets and liabilities | 6 |
THE SHOLLOND TRUST
REFERENCE AND ADMINISTRATIVE DETAILS For the year ended 31 December 2021
| Trustees | Judy Bruce (Chair) |
|---|---|
| Adam Lee (Treasurer) | |
| William Garside | |
| John Hawkins | |
| Colin Oliver | |
| Bob Shaw | |
| Co-ordinator | Richard Lang |
| Charity reg. no. | 1059551 |
| Registered office | 87b Cazenove Road |
| London | |
| N16 6BB | |
| Telephone/fax | 0207 6868 752 |
| Web-site | www.headless.org |
| Independent examiner | Simon Erskine FCA FCIE DChA |
| 61 Mortimer Road | |
| London | |
| NW10 5QR | |
| Bankers | National Westminster Bank |
| 198 Stoke Newington High Street | |
| London | |
| N16 4GA | |
| Investment managers | Rathbone Investment Management Limited |
| 159 Bond Street | |
| London | |
| W1Y 9PA |
The Shollond Trust was established under a trust deed dated 9 November 1996 and was registered with the Charity Commission for England and Wales on 5 December 1996 under reference 1059551.
Its primary purpose is to promote the mental and moral wellbeing of the community by propagating and disseminating the teachings of Douglas Harding with the aim of realising the core teachings of the great religions.
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THE SHOLLOND TRUST
TRUSTEES' REPORT
For the year ended 31 December 2021
The Trustees submit their annual report and the Receipts and Payments accounts of The Shollond Trust for the year ended 31 December 2021.
The Receipts and Payments accounts have been prepared according to guidance from the Charity Commission.
Objects
The Trust is established to promote the mental and moral improvement of the community by propagating and disseminating the teachings of Douglas Harding with the aim of realising the core teaching of the great religions.
Structure, governance and management
The Trustees who served during the year and are serving currently are shown on page 1. The Trustees all give their time freely. The Trust is administered by the Co-ordinator, Richard Lang, who was appointed by the Trustees in November 1996 when it was formed. Richard's pay was £1,500 per month up to October 2020 and £2,000 per month thereafter (plus expenses).
New Trustees are recruited, usually on the recommendation of the Co-ordinator, for their ability to make a contribution to the pursuit of the objects or the management of the Charity. They are appointed by resolution of the Trustees as laid down in the Trust Deed.
Review of activities and achievements
The policy of the Trust is to disseminate the ideas of Douglas Harding as widely as possible through publications, workshops and other appropriate media and channels.
During 2021 the website continued to be an effective channel for facilitating exchange between the public and the Trust with many people corresponding with the Co-ordinator by email. Both the Trust's YouTube channel and its podcasts remain popular. Richard Lang, the co-ordinator, has continued to add content.
During 2021 the Trust published 10 audiobooks (all books by Douglas Harding). The Trust also published translations of books by Douglas Harding in Spanish, Swedish, Italian, Dutch, Polish. The unabridged version of The Hierarchy of Heaven and Earth was published.
Zoom meetings continue to be popular with up to 12 meetings happening each week. Richard Lang has continued to give online workshops during the year.
There was no Salisbury Gathering this year due to the pandemic.
Public benefit
When planning our activities for the year, the Trustees have considered the Charity Commission’s guidance on public benefit.
Financial review
The Trust earns dividends on the investment portfolio managed by Rathbone Investment Management Limited. The Trust also receives monies from the sale of books, videos etc. and from donations. Full details of the receipts and payments for the year are given on page 5.
2
THE SHOLLOND TRUST
TRUSTEES' REPORT
For the year ended 31 December 2021
The Endowment fund represents a portfolio of shares gifted to the Trust during 1997 on the understanding that the income could be used for its general purposes. The Settlor of the fund has given permission for the capital to be utilised at the discretion of the Trustees and in practice the excess of amounts withdrawn from the portfolio over the investment income less investment management fees is transferred each year from the Endowment fund to the General fund. At the year end the balance on the Endowment fund was represented entirely by investments.
The Trust's policy is to maintain its general reserve (i.e. net assets excluding investments) between 6 and 12 months' running costs.
Related party transactions
Trustees do not receive any remuneration or reimbursed expenses. The Co-ordinator receives amounts from the Trust, as shown in the Receipts and Payments Account, for his fees as Co-ordinator, for his fees running workshops (where he is paid the amounts received from participants), and for office heat and light for his office at home.
Independent examiner
The Charity's independent examiner, Simon Erskine FCA FCIE DChA, has indicated his willingness to continue in office and offers himself for re-appointment.
This report was approved by the Trustees on 14 March 2022 and signed on their behalf by:
Judy Bruce
Judy Bruce Chair
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SHOLLOND TRUST
I report to the charity trustees on my examination of the accounts of The Shollond Trust for the year ended 31 December 2021 which are set out on pages 5 and 6.
This report is made solely to the Trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trustees for my independent examination work, for this report, or for the statement I have given below.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
Simon Erskine FCA FCIE DChA
61 Mortimer Road London NW10 5QR Date:
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| Charity Name The Shollond Trust |
Charity Name The Shollond Trust |
Charity Name The Shollond Trust |
No 1059551 |
No 1059551 |
CC16a | |
|---|---|---|---|---|---|---|
| For the period from |
1 January2021 Period start date |
To | Period end date 31 December 2021 |
|||
| Section A Receipts and payments | ||||||
| A1 Receipts Sale of books, videos etc.. Workshops Dividends Donations Gift Aid claim received Royalties Other income Sub total(Gross income for AR) |
Unrestricted funds to the nearest £ 44,355 - 1,959 7,704 - 212 - 54,230 83,247 83,247 137,477 24,000 - 139 3,091 468 600 46,307 238 2,311 184 - 1,100 78,438 |
Restricted funds to the nearest £ - - - - - - - - - |
Endowment funds to the nearest £ - - - - - - 837 - 837 |
Total funds to the nearest £ 44,355 - 1,959 7,704 - 212 - 54,230 83,247 83,247 137,477 24,000 - 139 3,091 468 600 46,307 238 2,311 184 837 1,100 79,275 |
Last year to the nearest £ |
|
| 48,594 | ||||||
| 1,433 | ||||||
| 2,411 | ||||||
| 6,132 | ||||||
| 4,476 | ||||||
| 326 | ||||||
| 663 | ||||||
| 64,035 | ||||||
| A2 Asset and investment sales, etc. |
||||||
| Sales of investments Sub total |
83,247 | 3,994 | ||||
| 83,247 | 3,994 | |||||
| Total receipts A3 Payments Co-ordinator's fees Workshops Zoom webinars Internet, postage, telephone Printing, scanning and stationery Office light and heat Cost of books, videos etc.. Miscellaneous Website work Computer and equipment costs Investment management fees Independent examination fees **Sub total ** |
||||||
| 68,029 | ||||||
| 24,000 | - | - | 24,000 | 19,000 | ||
| - | - | 1,433 | ||||
| 139 | 139 | 1,119 | ||||
| 3,091 | 3,091 | 3,085 | ||||
| 468 | 468 | 278 | ||||
| 600 | 600 | 600 | ||||
| 46,307 | 46,307 | 4,133 | ||||
| 238 | 238 | 276 | ||||
| 2,311 | 2,311 | 623 | ||||
| 184 | 184 | 1,437 | ||||
| - | - | 837 | 837 | 729 | ||
| 1,100 | - | - | 1,100 | 1,100 | ||
| 78,438 | - | 837 | 79,275 | 33,813 |
| A4 Asset and investment | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| purchases, etc. | |||||||||
| Purchases of investments | 87,427 | - | - | 87,427 | - | ||||
| Purchase of office furniture | 1,048 | 1,048 | |||||||
| Sub total | 88,475 | - | - | 88,475 | - | ||||
| Total payments | 166,913 | - | 837 | 167,750 | 33,813 | ||||
| Net of receipts/(payments) | (29,436) | - | (837) | (30,273) | 34,216 | ||||
| A5 Transfers between funds | (837) | - | 837 | - | - | ||||
| A6 Cash funds last year end | 50,526 | - | - | 50,526 | 16,310 | ||||
| Cash funds this year end | 20,253 | - | - | 20,253 | 50,526 |
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| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds |
Signature Judy Bruce Adam Lee Accrued independent examination fee Details Details Office furniture, computer and other equipment Details Investments with Rathbones excluding cash Details Gift Aid debtor Bank account Investment manager's capital account Total cash funds (agree balances with receipts and payments account(s)) Details |
Unrestricted funds Restricted funds to nearest £ to nearest £ 19,844 - 409 - - - 20,253 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ 530 - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment fund 87,774 - - Fund to which asset belongs Cost (optional) Unrestricted funds - - - - - - - - - Fund to which liability relates Amount due (optional) Unrestricted 900 - - - - Print Name Judy Bruce, Chair Adam Lee, Treasurer |
Endowment funds to nearest £ |
| - | |||
| - | |||
| - | |||
| - | |||
| OK | |||
| Endowment funds to nearest £ |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
|||
| 91,992 | |||
| - | |||
| Current value (optional) |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| When due (optional) |
|||
| Date of approval |
|||
| Judy Bruce | Judy Bruce, Chair | 14 March 2022 | |
| Adam Lee | Adam Lee, Treasurer | 14 March 2022 |
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