**Company Registration No. 04591453 (England and Wales) Charity No. 1097070 (England and Wales)**
## **Self-Realization Fellowship Church -UK**
**(a company limited by guarantee)**
**Trustees’ report and financial statements For the year ended 30 September 2024**
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Company information**
|**Trustees**|Christopher Bagley|
|---|---|
||Ronald Eisele|
||Jill Hoerter|
||Joseph Bouchard|
|**Secretary**|Jill Hoerter|
|**Company number**|04591453|
|**Charity number**|1097070|
|**Registered office**|48 Chancery Lane|
||London|
||WC2A 1JF|
|**Independent auditors**|Saffery LLP|
||71 Queen Victoria Street|
||London|
||EC4V 4BE|
|**Solicitors**|Keystone Law|
||48 Chancery Lane|
||London WC2A 1JF|
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Contents**
||**Page**|
|---|---|
|Trustees’ annual report|1|
|Independent auditors’ report|5|
|Statement of financial activities|9|
|Balance sheet|10|
|Cash flow statement|11|
|Notes to the financial statements|12|
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Trustees’ annual report for the year ended 30 September 2024**
The Trustees present their report and financial statements for the year ended 30 September 2024.
The financial statements have been prepared in accordance with the Charities Act 2011, the Memorandum and Articles of Association, and 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) (second edition). The legal and administrative information set out on page 1 forms part of this report.
## **Constitution and objects**
Self-Realization Fellowship Church - UK (“SRF-UK”) is a registered charity and a company limited by guarantee and is governed by its Memorandum and Articles of Association.
The principal objects of SRF-UK are the advancement of religion through the promotion of the principles and doctrines of the Self-Realization Fellowship Church (a non-profit religious entity incorporated under the law of the State of California, USA (“SRFC”)) contained in SRFC Aims and Ideals formulated by Paramahansa Yogananda, the founder of SRFC. SRFC is an international church headquartered in Los Angeles, USA.
## **Objects and activities for public benefit**
The object of the charity, as defined in the governing document, is the advancement of religion. This is done through the promotion of the principles and doctrines of the Self-Realization Fellowship Church. The charity provides and maintains a church building and strives to support the spiritual and religious works of the Church.
The Trustees see these objects as being one charitable activity for public benefit and confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
## **Membership**
Corporate membership of SRF-UK is open to any individual interested in promoting the objects of the Church who applies to SRF-UK and is approved by the Board of Trustees.
## **Structure, governance and management**
The Trustees of SRF-UK are its directors for the purpose of company law and throughout this report are collectively referred to as the Trustees. Each Trustee holds office for a term of three years and thereafter is eligible for re-election for a further such term or terms. All Trustees are required to be corporate members of SRF-UK. All key decisions are taken by the Board of Trustees which consists of at least three members, but this number may be increased to meet its needs and requirements. The Board of Trustees may co-opt a person as a member of the Board of Trustees. A co-opted member holds office until the next Annual General Meeting when he/she may be elected by the members.
The following Trustees held office during the year, or since the year end:
Christopher Bagley Ronald Eisele Jill Hoerter Joseph Bouchard
The Trustees comprise the members of SRF-UK.
Page 1
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Trustees’ annual report for the year ended 30 September 2024**
The present Trustees are all residents of the USA and are all directors-Trustees of SRFC. The Trustees are responsible for other SRFC entities around the world and bring that extensive experience to their role as Trustees of SRF-UK. They rely on their legal and other professional advisors, who work closely with SRFC’s in house legal counsel, to ensure that the charity meets all its regulatory requirements. The Trustees believe that the arrangements in place are sufficient to enable them to fulfil their duties.
The Trustees are considered to be the key management personnel of the charity. No remuneration is paid to Trustees
## **Achievements and Performance**
The church holds regular meditation, scripture study, and inspirational services in the evenings and on Sundays. Special events, such as commemoration services, religious retreats, and monastic visit events, are scheduled throughout the year, depending on attendance, they were held at the church premises, retreat facilities, or offsite venues.
## **Volunteers**
SRF-UK is reliant on the involvement of its volunteers, and benefits greatly from the support provided. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the financial statements.
## **Investment powers**
The Trustees have powers under the Memorandum of Association to deposit or invest funds in any manner but to invest only after obtaining advice from a financial expert and having regard to the suitability of investments and the need for diversification.
## **Financial review of the year**
The total incoming resources for the year were £400,453 (2023: £291,898). The net movement in funds for the year amounted to a surplus of £106,832 (2023: deficit of £22,066). This is considered to be satisfactory in view of the level of reserves and cash during the year.
## **Reserves policy**
The Trustees have power under the Memorandum of Association to set aside funds for special purposes or as reserves against future expenditure. The Trustees do not target a particular level of reserves but the reserves are reviewed regularly to ensure that they are sufficient but not excessive to meet SRF-UK’s current needs. The charity aims to hold sufficient reserves to enable it to maintain the church building and meet other needs of the Church.
As at 30 September 2024, the Charity had total reserves of £4,080,750 (2023: £3,973,918). The level of reserves in unrestricted funds at 30 September 2024 was £1,026,535 (2023: £868,028) of which £461,701 (2023: £334,875) is represented by cash. Restricted funds at 30 September 2024 were £3,054,215 (2023: £3,105,890).
Page 2
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Trustees’ annual report for the year ended 30 September 2024**
## **Fundraising policy**
The Trustees take their responsibility under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implications on their fundraising activities.
The Charity receives donations from members of the public and individuals involved with the Church. It does not work with any third party commercial fundraiser. Any donations given to the charity will only be accepted and used if they are within its aims. The Trustees are not aware of any fundraising complaints made in respect of the financial year.
## **Future plans**
The charity will use its resources to maintain the church building and support the activities of the Church both in the UK and elsewhere in the world.
The Charity is in a strong financial position with a cash balance of £666,850 at 30 September 2024. The Charity’s business plan caters for two years of business disruption assuming no income and committed costs of approximately £140,000 per annum. The Trustees continue to monitor the situation.
## **Risk management**
The Trustees have reviewed the major risks faced by SRF-UK and are satisfied that steps have been taken to mitigate those risks. The risk management policy and procedures will be reviewed and amended as necessary as the operations of SRF-UK develop.
## **Trustees responsibilities in relation to the financial statements**
The Trustees (who are also directors of SRF-UK for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Trustees’ annual report for the year ended 30 September 2024**
In so far as the Trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **Auditors**
In accordance with the Companies Act, a resolution will be proposed at the Annual General Meeting to reappoint Saffery LLP as auditors and to authorise the Trustees to fix their remuneration.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the board on 10 June 2025 and signed on their behalf by:
VU
## **Jill Hoerter**
Secretary, Trustee and Director
Page 4
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Independent auditors’ report to the members for the year ended 30 September 2024**
## **Opinion**
We have audited the financial statements of Self-Realization Fellowship Church – UK for the year ended 30 September 2024 which comprise the statement of financial activities, balance sheet, cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the charitable company’s state of affairs as at 30 September 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit
Page 5
## **Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Independent auditors’ report to the members for the year ended 30 September 2024**
or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Annual Report which includes the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees’ Annual Report which includes the Directors’ Report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our auditor
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies exemption in preparing the Trustees’ Annual Report and the Strategic Report.
## **Responsibilities of trustees**
As explained more fully in the Trustees’ Responsibilities Statement set out on page 4, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so.
Page 6
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Independent auditors’ report to the members for the year ended 30 September 2024**
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.
## Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.
Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales .
## Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
Page 7
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Independent auditors’ report to the members for the year ended 30 September 2024**
There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## HSL
Cara Turtington (Senior Statutory Auditor) For and on behalf of Saffery LLP
Statutory Auditors 71 Queen Victoria Street EC4V 4BE
Date: 16 June 2025
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Page 8
## **Self-Realization Fellowship Church –UK (a company limited by guarantee)**
**Statement of financial activities (Incorporating an Income and expenditure account) for the year ended 30 September 2024**
|**Unrestricted**
**funds**
**Notes**
**£**
**Income from:**
Donations and legacies
(including Gift Aid relief)
360,447
Charitable activities
16,436
Interest income
12,634
**Total income**
389,516
**Total expenditure on:**
**Charitable activities**
Advancement of religion
231,009
**Total expenditure**
**3**
231,009
Net (expenditure)/income
158,507
Transfers between funds
**10**
-
Net movement in funds
158,507
**Total funds brought forward**
**at 1 October 2023**
868,028
**Total funds carried forward**
**at 30 September 2024**
**10**
1,026,535|**Restricted**
**funds**
**£**
10,937
-
-
10,937
62,612
62,612
(51,675)
-
(51,675)
3,105,890
3,054,215|**2024**
**Total**
**£**
371,384
16,436
12,634
400,453
293,621
293,621
106,832
-
106,832
3,973,918
4,080,750|**2023**
**Total**
**£**
266,308
20,581
5,009|
|---|---|---|---|
||||291,898|
||||313,964|
||||313,964|
||||(22,066)
-|
||||(22,066)
3,995,983|
||||3,973,918|
All incoming resources and resources expended derive from continuing activities.
There were no other recognised gains or losses in the year.
The notes on pages 12 to 20 form part of these financial statements.
Page 9
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Balance sheet as at 30 September 2024**
|||**30 September**|**30 September**||**30 September**|**30 September**|
|---|---|---|---|---|---|---|
||||**2024**|||**2023**|
||**Notes**|**£**|**£**||**£**|**£**|
|**Fixed assets**|||||||
|Tangible fixed assets|**6**||3,362,941|||3,388,445|
|**Current assets**|||||||
|Stock||15,809|15,809|17,267|17,267||
|Debtors|**7**|56,995||28,033|28,033||
|Cash at bank||666,850||619,264|619,264||
||||739,654|||664,564|
|**Creditors: amounts falling due**|||||||
|**within one year**|**8**||(21,845)|||(79,091)|
|**Net current assets**|||717,809|||585,473|
|**Total assets less current**|||||||
|**liabilities**|||4,080,750|||3,973,918|
|**Unrestricted funds**|**10**||1,026,535|||868,028|
|**Restricted funds**|**10**||3,054,215|||3,105,890|
|**Total Funds**|||4,080,750|||3,973,918|
These financial statements have been prepared in accordance with special provisions relating to small companies within Part 15 of the Companies Act 2006.
The notes on pages 12 to 20 form part of these financial statements.
The financial statements were approved by the Board on 10 June 2025
## v **Jill Hoerter**
Secretary, Trustee and Director
Company Registration No: 4591453
Page 10
## **Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Statement of cash flows for the year ended 30 September 2024**
|**Notes**
**Cash flows from operating activities:**
**A**
**Cash flows from investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Change in cash in the year**
Cash at the beginning of the year
**Cash at the end of the year**|**2024**
**£**
97,050
(49,464)
**(49,464)**
**47,586**
619,264
**666,850**|**2023**
**£**
108,007
(74,618)|
|---|---|---|
|||**(74,618)**|
|||**33,389**|
|||585,875|
|||**619,264**|
## **Note A**
## **Reconciliation of net income to net cash flow from operating activities**
|Net income for the year as per Statement
of Financial Activities
Depreciation
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash inflow/(outflow) from operating activities|**2024**
**£**
106,832
74,968
1,458
(28,962)
(57,246)
97,050|**2023**
**£**
(22,066)
74,816
(3,628)
61,788
(2,903)|
|---|---|---|
|||108,007|
|**Analysis of changes in net debt**|**1 October**|**Movement in**|**At 30**|
|---|---|---|---|
||**2023**|**the year**|**September**|
||||**2024**|
||**£**|**£**|**£**|
|Cash at bank|619,264|47,586|666,850|
All cash flows are derived from continuing operations during the above two periods.
Page 11
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
## **1 Accounting policies**
The financial statements have been prepared in accordance with the Second Edition of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The particular accounting policies are described below.
## **1.1 Accounting convention**
The financial statements are prepared in sterling, which is the functional currently of the charitable company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements are prepared under the historical cost convention.
The Charity constitutes a public benefit entity as defined by FRS 102.
These financial statements for the year ended 30 September 2023 are prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
## **1.2 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.
## **1.3 Income**
Income from donations and legacies is recognised when these are received or when collected by others on behalf of the charity during the period. Gift Aid relief is accrued, where applicable, at the time when the donation is received.
## **1.4 Interest receivable**
Interest is recognised when receivable by the company.
## **1.5 Expenditure**
Resources expended are recognised on an accruals basis, inclusive of any VAT which cannot be recovered. Governance and support costs have been allocated to the charitable activity and analysed in note 3. Governance costs relate to compliance with statutory requirements.
## **1.6 Fund accounting**
The charity held the following funds during the year:
## **1.6.1 Unrestricted general funds**
These are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Page 12
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
## **1.6.2 Restricted funds**
These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **1.7 Tangible fixed assets**
Depreciation is provided on the fixed assets (other than freehold land) at rates calculated to write off the cost over its expected useful life on a straight-line basis as follows:
|Buildings|50 years|
|---|---|
|Fixtures, fittings and equipment|5 years|
|Plant and machinery|15 years|
## **1.8 Stock**
Stock is valued at the lower of cost and net realisable value.
## **1.9 Financial instruments**
The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised initially in the accounts at transaction price, including any transaction costs. At the end of each accounting period, basic financial instruments are recognised at amortised cost. For debt instruments, this is calculated using the effective interest rate method.
## **1.10 Key judgements and assumptions**
The key judgements and assumptions made by the Trustees in the preparation of the financial statements include the rates of depreciation used on the charity’s fixed assets and the expected recovery of Gift Aid from HMRC on eligible donations made to the charity.
## **2. Net income/(expenditure)**
|**Net income/(expenditure)**|||
|---|---|---|
||**Year ended**|**Year ended**|
|This is stated after charging:|**30 September 2024**|**30 September 2023**|
||**£**|**£**|
|Auditors’ remuneration:|||
|Audit|18,000|18,000|
|Other services|30,386|28,062|
Page 13
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
|**3.**
**Expenditure**
3.1
2024 Expenditure
**Direct**
**costs**
**£**
**Charitable expenditure:**
Advancement of Religion
239,685
Governance
-
495
239,685
**Unrestricted**
**funds**
**2024**
**£**
Donations paid to SRF (USA)
43,265
Repair and refurbishment costs
30,034
Depreciation
12,356
Insurance and other church costs
36,511
Retreats and monastic visits
54,907
Support costs
53,935
231,008
The donations paid to SRF (USA) represent the following:
Other donations|**Support**
**costs**
**£**
5,549
48,386
53,935
**Restricted**
**funds**
**2024**
**£**
-
-
62,612
-
-
-
62,612
**2024**
**£**
43,265
43,265|**2024**
**£**
245,234
48,386|
|---|---|---|
|||293,620|
|||**Total**
**funds**
**2024**
**£**
43,265
30,034
74,968
36,511
54,907
53,935|
|||293,620|
|||**2023**
**£**
25,632|
|||25,632|
Page 14
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
|**3.**
**Expenditure**
3.2
2023 Expenditure
**Charitable expenditure:**
Advancement of Religion
Governance
Donations paid to SRF (USA)
Repair and refurbishment costs
Depreciation
Insurance and other church costs
Retreats and monastic visits
Support costs|**Direct**
**costs**
**£**
213,506
-
213,506
**Unrestricted**
**funds**
**2023**
**£**
25,632
20,001
12,204
33,932
59,126
100,458
251,353||**Support**
**costs**
**£**
6,471
93,987
100,458
**Restricted**
**funds**
**2023**
**£**
-
-
62,612
-
-
-
62,612||**2023**
**£**
219,977
93,987
313,964
**Total**
**funds**
**2023**
**£**
25,632
20,001
74,816
33,932
59,126
100,458|
|---|---|---|---|---|---|
|||||||
|||||||
||||||313,964|
Support costs comprise legal, accountancy and administrative costs.
## **4. Related party transactions**
The Trustees, who are key management personnel, were not paid any remuneration nor reimbursed for any expenses during the current or the previous year.
Donations of £43,265 (2023: £25,632) were made in the year to Self-Realization Fellowship Church (a non-profit religious entity incorporated under the law of the State of California, USA (“SRFC”)). SRFC has Trustees in common with Self-Realization Fellowship Church – UK (SRF-UK). SRFC also provides administrative support to SRF-UK for £nil (2023: £47,925).
Page 15
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
## **5. Staff costs and emoluments**
The company employed no staff during the current year or the previous year. Management of the charity is administered from Self-Realization Fellowship Church in the United States as well as by volunteers at the London Centre.
## **6. Fixed assets**
|**Assets under**
**construction**
**£**
**Cost**
At 1 October 2023
102,188
Additions
10,320
**At 30 September**
**2024**
112,508
**Depreciation**
At 1 October 2023
-
Charge for the
year
-
**At 30 September**
**2024**
-
**Net book value**
**At 30 September**
**2024**
112,508
**At 30 September**
**2023**
102,188
**7.**
**Debtors**
Gift Aid tax reclaim
Prepayments and other debtors|**Freehold**
**land and**
**buildings**
**£**
4,500,093
-
4,500,093
1,213,862
74,725
1,288,587
3,211,506
3,286,231|**Fixtures,**
**fittings and**
**equipment**
**£**
**Plant and**
**machinery**
**£**
**Total**
**£**
116,494
-
4,718,775
-
39,144
49,464
116,494
39,144
4,768,239
116,468
-
1,330,330
26
217
74,968
116,494
217
1,405,298
-
38,927
3,362,941
26
-
3,388,445
**2024**
**£**
**2023**
**£**
51,013
18,129
5,982
9,904
56,995
28,033|**Total**
**£**
4,718,775
49,464|
|---|---|---|---|
||||4,768,239|
||||1,330,330
74,968|
||||1,405,298|
||||3,362,941|
||||3,388,445|
|||||
Page 16
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
## **8. Creditors: amounts falling due within one year**
|**reditors: amounts falling due within one year**|||
|---|---|---|
|Other creditors and accruals|**2024**
**£**
21,845
21,845|**2023**
**£**
79,091|
|||79,091|
## **9. Charity status**
The charity is a charitable company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charitable company in the event of liquidation.
Page 17
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
|**10.**
**Funds**
**Current year**
**_Prior year_**
**Unrestricted funds**
General fund
Designated
Refurbishment fund
Total
**Restricted funds**
London Centre
Refurbishment fund
Glass roof project
Muriel Clark
Total
**Total funds**
**Unrestricted funds**
General fund
Designated
Refurbishment fund
Total
**Restricted funds**
London Centre
Refurbishment fund
Glass roof project
Muriel Clark
Total
**Total funds**|**Balance at**
**1 October**
**2023**
**Other**
**Incoming**
**resources**
**Outgoing**
**resources**
**Transfers**
**Balance at 30**
**September**
**2024**
**£**
**£**
**£**
**£**
**£**
581,250
356,781
(231,009)
-
707,022
-
-
-
-
-
286,778
32,735
-
-
319,513|
|---|---|
||868,028
389,516
(231,009)
-
1,026,535
2,985,888
4,937
(62,376)
-
2,928,449
112,000
6,000
-
-
118,000
8,002
-
(236)
-
7,766|
||3,105,890
10,937
(62,612)
-
3,054,215|
||3,973,918
400,453
(293,621)
-
4,080,750|
||**Balance at**
**1 October**
**2022**
**Other**
**Incoming**
**resources**
**Outgoing**
**resources**
**Transfers**
**Balance at 30**
**September**
**2023**
**£**
**£**
**£**
**£**
**£**
s
621,248
211,353
(251,352)
-
581,249
-
-
-
-
-
256,632
30,146
-
-
286,778|
||877,880
241,499
(251,352)
-
868,027
3,044,865
3,399
(62,376)
-
2,985,888
65,000
47,000
-
112,000
8,238
-
(236)
-
8,002|
||3,118,103
50,399
(62,612)
-
3,105,890|
||3,995,983
291,898
(313,964)
-
3,973,918|
Page 18
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
**Notes to the financial statements for the year ended 30 September 2024**
## **10. Funds (continued)**
The designated Refurbishment Fund represents monastic visit offerings to be used towards the future refurbishment of the London Church Building.
The restricted Refurbishment Fund represents donations which can only be used in connection with the purchase and refurbishment of the London Church Building.
The restricted Glass Roof Project Fund represents donations which can only be spent on the roof project at the London Centre.
The Muriel Clark Legacy represents receipt of funds for the benefit of the London Centre.
Transfers between funds represent expenditure in relation to these projects in previous years.
## **11. Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
|**Unrestricted**
**funds**
**£**
**Fund balances at 30 September 2024**
represented by:-
Tangible fixed assets
506,112
Stock
15,809
Debtors
56,995
Cash at bank
469,466
Creditors
(21,845)
1,026,535
**Unrestricted**
**funds**
**£**
**_Fund balances at 30 September 2023_**
represented by:-
Tangible fixed assets
566,944
Stock
17,267
Debtors
28,033
Cash at bank
334,875
Creditors
(79,091)
868,028|**Restricted**
**funds**
**£**
2,856,831
-
-
191,892
-
3,054,215
**Restricted**
**funds**
**£**
2,821,501
-
-
284,389
-
3,105,890|**Total**
**funds**
**£**
3,362,943
15,809
56,995
666,850
(21,845)|
|||4,080,750|
|||**Total**
**funds**
**£**
3,388,445
17,267
28,033
619,264
(79,091)|
|||3,973,918|
Page 19
**Self-Realization Fellowship Church –UK (a company limited by guarantee)**
## **Notes to the financial statements for the year ended 30 September 2024**
## **12. Comparative information**
2023 Statement of financial activities (Incorporating an Income and expenditure account)
|**Unrestricted**
**funds**
**Income from:**
**£**
Donations and legacies
(including Gift Aid relief)
215,909
Charitable activities
20,581
Interest income
5,009
**Total income**
241,499
**Expenditure on:**
**Charitable activities**
Advancement of religion
251,352
**Total expenditure**
251,352
Net (expenditure)/income
(9,853)
Transfers between funds
-
Net movement in funds
(9,853)
**Total funds brought forward**
**at 30 September 2022**
877,880
**Total funds carried forward**
**at 30 September 2023**
868,027|**Restricted**
**Year**
**funds**
**ended**
**30 September**
**2023**
**Total**
**£**
**£**
50,399
266,248
-
20,581
-
5,009
50,339
291,898
62,612
313,964
62,612
313,964
(12,213)
(22,066)
-
-
(12,213)
(22,066)
3,118,103
3,995,983
3,105,890
3,973,918|**Restricted**
**Year**
**funds**
**ended**
**30 September**
**2023**
**Total**
**£**
**£**
50,399
266,248
-
20,581
-
5,009
50,339
291,898
62,612
313,964
62,612
313,964
(12,213)
(22,066)
-
-
(12,213)
(22,066)
3,118,103
3,995,983
3,105,890
3,973,918|
|---|---|---|
|||291,898|
|||313,964|
|||313,964|
|||(22,066)
-|
|||(22,066)
3,995,983|
|||3,973,918|
Page 20