## **SATIPANYA BUDDHIST TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2020** The trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and the financial statements for the year ended 31 December 2020. The Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 2015 “Accounting and Reporting by Charities”. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** ## **Trustees** James Edward Tibby (Chair) Richard Benjamin (Treasurer) Noirin Sheahan (Secretary), Michael Thomas Vincent Regan Alison Rosemary Weeks ## **Trust Secretary** Noirin Sheahan ## **Company Registered Number:** 05924965 ## **Charity Registered Number:** 1116668 ## **Registered Office** Satipanya, White Gritt, Minsterley, Shropshire, SY5 0JN ## **Solicitors** Wace Morgan , 2 Belmont , Shrewsbury , SY1 1TD ## **Bankers** ## **HSBC** 42 Courtenay Street , Newton Abbot, Devon, TQ12 2EB ## **Co-Operative Bank** Delf House, Skelmersdale, MN8 6WT ## **Unity Trust Bank** 4 Brindley Pl, Birmingham , B1 2JB **SATIPANYA BUDDHIST TRUST Trustees Report (Continued)** ## **STRUCTURE AND GOVERNANCE** ## **Constitution and Governing Document** The charity is a charitable company limited by guarantee and was established on 5 September 2006, as a successor to an unincorporated trust of the same name. It is governed by its Memorandum and Articles of Association. These have not been amended since incorporation. Legal responsibility for the management and stewardship of the Charity is vested in the board of trustees. ## **Organisational structure and decision making** As set out in the Articles of Association, one-third of the directors/trustees are subject to retirement by rotation on an annual basis. The maximum number of trustees is 5 (of whom up to 2 may be co-opted) at any one point in time. There are currently 5 trustees. The board of trustees, which meets at least once a year and also holds meetings by electronic communication _,_ administers the charity. Regular administrative and compliance matters are carried out by the Trust Secretary in consultation with the trustees. ## **Method of appointment or election of trustees** Trustees are elected and co-opted under the terms of the Memorandum and Articles of Association. ## **Induction and training of new trustees** As part of their induction programme, all new trustees are required to read and be familiar with a number of key documents, including: the company's Memorandum and Articles of Association, the financial statements for prior years, the minutes of board meetings and Annual General Meetings. They are also provided with information relating to their duties as trustees and encouraged to make full use of the relevant publications on the Charity Commission website. ## **Relationship with other organisations** The charity is not closely associated with any other organisations. Occasionally it may liaise with similar organisations, for example in arranging venues for meditation classes. ## **Risk management** The Trustees have established procedures to minimise risks which includes Health and Safety training for resident teachers and kitchen coordinator as well as procedures to cover Fire Safety, Food Hygiene Safety, Water Safety, Electrical Safety, Financial Safety (including the establishment of a reserve fund) & Psychological Safety (including a policy on Safeguarding). ## **Related Party Transactions** The Trust does not make any payments to Trustees or Managers and thus has no related party transactions. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives of the Charity as set out in its Governing Document** The principal objectives of the Charity are to advance Buddhism by: - Teaching the practice of Insight Meditation (Vipassana Bhavana) as taught by the Mahasi Tradition of Burma and the Buddhadhamma (the teachings of Buddha); - Providing teacher training in Insight Meditation with the Mahasi Tradition; and - Furthering the Buddhadhamma and Insight Meditation. ## **Review of activities** During 2020, Satipanya adapted to the new meditation landscape because of the lockdowns caused by Covid-19. The residential courses came to an end with the first lockdown in March. Within a week of this, Bhante Bodhidhamma commenced YouTube evening broadcasts to help people through lockdown which were very well received with often 40 attending and others downloading to watch in their own time. Noirin Sheahan led our first on-line retreat at Easter using Zoom and all retreats have run on-line since. These have been much appreciated and well-attended. In addition an On-line Meditation Hall was set up by Mark Arthur and has perhaps 20 or so regular daily attendees, while a Spiritual Companions group was formed by Magda Kowalczuk for monthly on-line Sunday practice. The local group and Carl's group are also meeting regularly on-line and we offered Christmas and New Year meditation ‘specials’. Thus the centre adapted well to the restraints of the pandemic and in many ways the year has brought the Satipanya sangha closer together and helped many establish the practice more firmly in their normal daily life. Noirin continued with her twice yearly teaching programme, where participants study Dhamma notes and follow the suggested practices for meditation and daily life before reporting their reflections and observations to a Forum on the Satipanya website. Although it was not possible to travel, Bhante Bodhidhamma was able to conduct online courses for Gaia House, Pain dei Ciliegi in Italy, the Dublin Group, Terre d’Eveil in Paris and the Brighton, London and Oxford Groups. The Trust has a website, www.satipanya.org, which sets out full details of the Trust's work. The website also provides the public with access to Buddhist teachings, including essays, recommended further reading and audio files that can be downloaded free of charge. A monthly newsletter is also published. This is sent to the Trust's supporters and is also available on the website. The two additions to the grounds were the Zen Bell and the statue on the island at the entrance. Noirin Sheahan, Senior Teacher at Satipanya, decided during 2020 to move from her home in Dublin to live at or near Satipanya. She is now managing the centre as well as continuing her teaching activities. At present she is living at the centre but it may be that after the Centre re-opens that she purchases a separate residence in the locality. ## **Public Benefit** The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The spiritual and psychological benefits of meditation are well-established. Regular meditation is recommended to help manage conditions such as depression, bereavement and relationship difficulties as well as illnesses such as chronic pain. Meditation adds joy to life and helps prevent burn-out and other psychological problems. All our retreats (both residential and on-line) are open to all adult members of the public. Thus Satipanya provides much benefit to the public. For residential retreats, a small deposit of £10 a day to cover daily running costs is taken, but the online course were given entirely on a donation basis. Participants were given the opportunity to offer donations ( _dana_ ) at the end of the retreat. The Trust's website includes video and audio files, which are available for free downloading, and printed essays on a range of Buddhist related subjects. ## **Volunteers** The charity is very grateful for the contribution made by its volunteers, who assist in a wide variety of areas including office and administrative work, maintaining and updating the Satipanya website, together with maintenance work, gardening, and cooking at Satipanya Buddhist Retreat. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Review of Performance against Objectives** In the financial statements for the period ended 31 December 2019 the Trustees identified the main objectives for 2020: - To install the Japanese bell and place a Dhammacakka on top Achieved ● To complete the Stupa with a third ring of stone or pebble Ongoing ● To complete the development of the gardens and pond Ongoing - Build a memorial wall next to platform where ashes are poured into the pond Achieved - To place the statue on the island in the car park Achieved - To save for a Vihara to be located in Shrewsbury Change of Plan The process of changing towards a new management and/or finding a new resident teacher is going to take longer than thought and Bhante Bodhidhamma therefore decided it would not be in the best interest of Satipanya to develop a Vihara in Shrewsbury. Instead, he hopes to build a small cabin / kuti on the property which will serve as his residence while also freeing up the Teacher’s Room in the Centre so as to facilitate and encourage new teachers. The cabin will also have a room for a Yogi, so that the Bungalow can then be designated for a manager or manager-teacher combination. This paves the way for Bhante Bodhidhamma’s retirement in perhaps five year’s time. ## **FINANCIAL REVIEW** ## **Review of financial position** The Trust is well supported in its tasks by the generosity of its many friends and supporters, with total income from donations (together with Gift Aid claimed) deposits and grants for the year ended 31 December 2020 of £109,677 The generosity of friends and supporters has enabled a significant part of the Trust’s spending to be directed towards the provision, enhancement and maintenance of the facilities at Satipanya Buddhist Retreat. There has a been a growing number of people making regular donations mainly on PayPal. ## **Reserves Policy** A formal reserves policy has been established by the trustees. This is reviewed annually (and more often should significant changes in circumstances arise). In accordance with the reserves policy, contingency funds not committed to tangible fixed assets should be sufficient to cover ongoing expenditure for a period of six months together with an estimate of the legal and professional fees that would be incurred should the need to sell the Trust's property ever arise. The trustees have calculated on this basis that at least £15,000 needs to be retained as a contingency. As at 31 December 2020, contingency reserves (i.e. excluding those funds designated or committed to fixed assets) stood at £30,000 _._ Full details of the charity's reserves are provided in note 5 to the financial statements. ## **Investment policy** Under the Memorandum and Articles of Association the charity has the power to make any investments which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investment in short term cash deposits meets their requirements in terms of the objects of the charity. ## **PLANS FOR THE FUTURE** It is hoped that in the coming year we will be able to return to the usual retreat programme at Satipanya Buddhist Retreat. As well as Insight Meditation, retreats also cover other themes such as body care, mindfulness- based stress reduction, meditative country walks and the development of goodwill (metta). The various retreats provide participants with the opportunity to deepen their meditation practice, to develop calmness and to improve their well-being in a peaceful rural setting. The trustees have identified the following objective for the year to 31 December 2021 - To establish policies and procedures to minimise the risk of spread of covid-19 prior to reopening of the centre. - To review our health and safety procedures with particular regard to any new policies recommended by the Charity Commission. - To ensure that Trustees have adequate Trustee Liability cover. - To complete the Stupa with a third ring - To cap the commemorative wall and place the stone Buddha rupa there. - To clear the pond of pondweed and bullrushes overgrowth. - To apply for permission and to build a cabin along the side of the upper meadow Company and Charity law app]ieable to charities in England and Wales requires the Tntstees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its financi81 activiti&s for that ￿n(MI In preparing those fllwicial statements, the trusteos are required to: Select suitable accounting Ex)licies and apply them Consistently. Make judgements and estimates that are reasonable and prudent; State whether applieAble aLwunting standanls have been followed. subject to any material departures disclosed and explained in the accounts. and Prepare the fLnancial statements on a going coni*rn basis, unless tt is inappropriate to presume that the clMLIty will continue in operntion. The trusteos have overall responsil)ility for ensuring that the mmpany has appropriate sysiems of control- financial or otherwise. They are also responsible for keeping proper accounting reconls which disclose, with reasonable accurao at any time, the fllkincia] position of the Charity and which enable them to ensure that the a(rounts Ix)mply with the Companies Aet 1985. They are also responsiTrJle for safeguarding the a&8ets of the Charity and for tsJ(ing reasonable step5 for the prevention and detection of fraud or other irregu￿e& Audit Exemption The company qualifies as a snmll company as defined in S477 Companies Act 2006. The directors have taken advantage of the total exernption from aD audit prO￿l0￿S in S477 (1) of the Act (as it applios to registered ebarities). Approval and Signature This rewrt was approved by the Satipanya Buddhist Tn]st Board of Directors and Th￿teeS and signed on their behalf by James Edward Tibby (Chair) Signed: Date: 03 2021 James ward Tib Chair of the Satipanya Buddhist Trust **The Satipanya Buddhist Trust Satipanya, White Grit Minsterley Shrewsbury Shropshire SY5 0JN** **Company No. 05924965 Charity 1116668** **Accounts for the year ended 31st December 2020** The 5atipanya Buddhist Trust DIRECtORS REPORT Year Ended 31st December 2020 ThEd[re[tv￿ hkntplpwe Rrfvtforthe w(od ￿￿515t1￿rnber2o20 PRTrNapAL4cnvmts The prinupalobieffits*softhe charltyareto*fva￿Ce￿ddhISmtrr. Tpathin8the practKegf Ins￿hLMeditat￿rt Iwipa5&1tla 8h&+apMla5 tavim Trwthe Mahay Tr•JltK>n ofburma and the BUddhad￿mMa lthettachir%s ofB￿l." Pr¢p•id1￿ teaihErtrainmgifj InsK%htMeditathn *￿tht￿ Ma1￿lTra￿￿On", atsj Furtherin8tht ￿ddhadh3n¥na and Ins4tit Mediratyon. RESULTS The resuttsaresW￿the￿[Cunp3n￿Tr£ pages t¥RECTORS Jarw NDirin FionnuaLISheèhan15ecretaryJ R￿hard Philip Benjam¥) MthaelThoma5Wmcent Relan Altstin Rosernaryweeks MaurEen GeraWinefibty-re5wd 31stJuty 2020 MEMBERSGUAWITEE The tampany Is uKorptyat￿a5a company i¥nit¢dlvrf8twartteeaTh1do￿ shweotal. The katrAi¢¥oftach MeMbEr￿ fiyed ataTha￿nt nDttoe¥ceed Elo. SMALi COMPANYEXEMPYION 1niheopink)n0ft￿ ditettor¥ the¢(ry￿￿￿r￿eSaS?s￿aI c¢XhVrryandthery￿3nda¢t￿nts havE teeftprEpared On ￿5. /) OILI Dats ?8 20 sl￿Panya.wkn￿fjlft Oilher?nt Shrew5b¥ry Shropshlr SYSOIN ## **The Satipanya Buddhist Trust Statement of Financial Activities(incorporating an Income and Expenditure Account) Year Ended 31st December 2020** |**From generated funds**
Voluntary income
Investment income
**From activities to generate funds**
**From Charitable Activities**
Grants
**Other Incoming Resources**
**Total incoming resources**
**Resources expended**
**Cost of generating funds**
**Charitable activities**
**Governance costs**
**Total resources expended**
**Net change in resources before transfers**
**Transfers between funds**
**Net change in resources**
**Brought Forward Funds**
**Carried Forward Funds**|**2019**
**Unrestricted**
**Restricted**
**Total**
**Total**
**2020**| |---|---| ||95805
95805
100590
66
66
108
3000
3000
10805
10805
2698| ||109677
109677
103397
62593
62593
68706| ||62593
62593
68706
47084
-
47084
34690
-| ||47084
-
47084
34690
910786
910786
876096| ||957870
-
957870
910786| The Satipanya Buddhist Trust Balance Sheet As at 31st December 20ZO 20ZO 2019 798119 819024 F￿d Assets Cuffent assets Oebtors.. 1569 8S32 5020 117270 Cash at bankand in Tatalcuttetit assets 19DiOi 1222 less.. Uabllltles edknr5: AmountsfallinKdue¥J6thlD oney￿*r TaXalknandN IS28 1528 939786 NerAt 1st January 2020
Additions/disposals
At 31st December 2020
Depreciation
At 1st January 2020
Charge for the year
At 31st December 2020
Net Book Value
At 1st January 2020
At 31st December 2020|861142
73962
861142
73962
74363
41717
8611
12295
82974
54011
786779
32245
778168
19951
**Land &**
**Buildings**
**Fixtures,**
**Fittings &**
**Equipment**|**Total**
935104| |---|---|---| |||935104
116079
20906| |||136985
819025| |||798119| - **3 Net incoming/outgoing resources for the year** **2020 2019** This is stated after charging: **Total Total** Depreciation 20906 ## **The Satipanya Buddhist Trust** ## **Notes to the accounts Year Ended 31st December 2020** ## **4 Taxation** The Charity is exempt from Corporation Tax on its charitable activities. ## **5 Movements in funds** **----- Start of picture text -----**
Balance Movements in year Transfers Balance
01.01.2020 Incoming Outgoing 31.12.2020
Unrestricted Funds General Fund 890786 109677 62593 -10000 927870
Reserve Fund 20000 10000 30000
910786 109677 62593 957870
Restricted Funds
910786 109677 62593 957870
**----- End of picture text -----**
## **The Satipanya Buddhist Trust Statement of Financial Activities(incorporating an Income and Expenditure Account) Natural Classification Year Ended 31st December 2020** |**Receipts**
**Deposits for courses**
**Donations - Gift Aid**
**Donations Non Gift Aid**
**Gift Aid Income from HMRC**
**Interest Earned**
**Other Income: Grants**
**Other Income:Covid Grant**
**Other Income:RHI**
**Total Receipts**
**Expenditure**
**Accountancy**
**Bank Charges**
**Donations Made**
**Electricity**
**Expenses**
**Food**
**Food delivery cost**
**Garden Maintenance**
**Grants**
**Improvements**
**Insurance**
**Kitchen costs**
**Maintenance - building**
**Maintenance - interior**
**Maintenance - interior:Furniture**
**Materials**
**Office costs**
**Paypal Fees**
**Professional Fees**
**Rates**
**Sewage**
**Subscriptions**
**Sundry**
**Telephone and internet**
**Travel and fuel**
**Trustees Expenses**
**Vehicle**
**Website**
**Depreciation**
**Total Expenditure**
**Net Income**
**Transfers to/from**
**Brought Forward**
**Carried Forward**|**Unrestricted**|**Restricted**|**Total Funds**| |---|---|---|---| ||**£**
4389
32338
51456
7621
66
3000
10000
805|**£**|**£**
4389
32338
51456
7621
66
3000
10000
805| ||||| ||||| ||**109677**
84
2959
210
3988
69
1020
14655
2061
86
4441
540
967
1749
893
3289
678
115
1386
617
542
786
552
20905||**109677**
84
2959
210
3988
69
1020
14655
2061
86
4441
540
967
1749
893
3289
678
115
1386
617
542
786
552
20905| ||**62593**
47084
-
910786|-|**62593**
47084
910786| ||**957871**|**-**|**957871**| Independent exaMI￿eS report to the tntstees of Satlpanya B￿ldh[st Trust Charlty Number 1116668 I report on the accounts of the company for the year ended 31 December 2020 Respertlve responslblllties of trustees arnl examlner The trustees (who are also the direttors of the company for the purposes of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for thi5 year under sertion Charities Act 2011 and that an independent examination is needed. Havlng satlsfied ffl￿elf that the charfty is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the general Directions given by the Charlty Commission under settion 14515)Ib) of the 2011 Att; and to stste whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination was carried out in accordance with the general Directions given by the Charlty Commission. An examination includes a review of the accounting records kept by the charlty and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosures in the accounts. and seeking explanations from you as trustees concernin8 any such matters. The procedure5 undertaken do not pro¥ide all the e￿Idence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair Vie￿ and the report is limited to those matters set out in the staternent below. Independent examlnerfs statement In connection with my examination, no rnatter has come to my attention: (11 which gives me reasonable cause to believe that in any material respett the requirements: to keep accountln8 records in accordan￿ wtth section 386 of the Companies Act 2LM)6; and to prepare accounts which accord with the accounting reff￿d$, comply with the accountin8 requirements of section 396 of the Companies Act 2(M)6 and with the methods and principles of the Statement of Recommended Practi￿. Accountin8 and Reportin8 by Charities have not been met; or (21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reathed. John Hi8son Bsc Oak Rld8e, Edgton Craven Arms Shropshire SY7 8HW ?(J21 Date: