## **SATIPANYA BUDDHIST TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021** 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 2021. 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 in the areas including 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). As a small enterprise with no staff we are not legally obliged to have a written Health and Safety policy. However, in view of the Charitees Commission recommendation that such a policy be written and formally adopted, we have developed a Health and Safety Policy statement along with detailed risk assessments, to be reviewed at the AGM. ## **Related Party Transactions** The Trust does not make any payments to 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 within the Mahasi Tradition; and - Furthering the Buddhadhamma and Insight Meditation. ## **Review of activities** Satipanya gradually re-opened to the public during 2021 as Covid-19 regulations eased in the UK. The winter retreat, which we had initially hoped to run as a residential course, was instead offered on-line with just two retreatants staying at the centre. One acted as assistant so that Bhante and Noirin could both attend / teach the retreat and both stayed for the full 12 weeks. A number of Spring retreats also ran on-line. The centre first opened its doors to the public at Wessak or Buddha Day on 23[rd] May. About 20 people attended for this day-retreat and in the final ceremony, Noirin took LayOrdination, adopting the Buddhadhamma as the core principal of her life. She continues to reside at Satipanya and manage as well as teach at the centre. On June 19[th] the summer retreat commenced and Satipanya welcomed its first new residents since the lockdown of March 2020. A set of procedures and rules were applied to minimise the risk of infection and retreatant numbers were reduced to 8 (instead of 10 pre-covid) to facilitate social distancing. Our rules were changed and updated to track the current guidelines and no instances of covid infection occurred during the Summer retreat or any of the Autumn retreats which were also offered as residential. While most Satipanya courses returned to residential format, the On-line Meditation Hall, the Satipanya Spiritual Companions and the London and South-East Satipanya Sangha all continued online, thereby offering meditation and teaching / Sangha support for people in their ordinary daily lives. All programs continued to be well supported despite the re-opening of social and public activities as pandemic problems eased. 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. Bhante Bodhidhamma ran his ‘Outside-Satipanya’ teaching schedule on-line during Spring and then commenced travelling in Autumn when residential courses had become feasible, first to Ireland and then to Switzerland, and some of his usual locations throughout the UK including and Brighton, London and Oxford. before commencing his own personal retreat in Germany. 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. As well as developing rules and procedures for covid-safety, a more general Health and Safety Policy has been drafted along with detailed risks assessments in a number of areas: Safeguarding, Covid, Water, Fire, Hygiene, Electrical, Accidents and Illness, and Financial Safety. This has now been circulated to Trustees to be reviewed at the AGM. The Commemorative Wall was capped and the area around it paved and in September the stone Buddha was placed on the wall. This feature is now complete and will allow us to commemorate those whose ashes have been placed in the pond with a wall-plaque giving their name and dates of birth and death ## **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 £15 a day to cover daily running costs is taken, while online courses are 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 Trustee Report for the period ended 31 December 2020 the Trustees identified the main objectives for 2021: - To establish policies and procedures to minimise the risk of spread of covid-19 prior to re-opening of the centre. Achieved - To review our health and safety procedures with particular regard to any new policies recommended by the Charity Commission. In Progress - To ensure that Trustees have adequate Trustee Liability cover. In Progress - To complete the Stupa with a third ring Achieved - To cap the commemorative wall and place the stone Buddha rupa there. Achieved - To clear the pond of pondweed and bullrushes overgrowth. Achieved - To apply for permission and to build a cabin along the side of the upper meadow Achieved* *However Planning Permission was rejected and thus the future development of Satipanya has now to be re-envisioned. It was disappointing to find our plans for a cabin rejected by the council. In the light of this, the Trust will now reassess the feasibility of purchasing a small premises in Shrewsbury; in the longer term this could be used as a retirement home for Bhante Bodhidhamma whenever new teaching arrangements support this move. In the shorter term it would allow Bhante to live away from Satipanya when he is not teaching, and free his room for visiting teachers. This could prove beneficial in expanding our visiting teacher program and hopefully attract a new monastic to become the Satipanya Spiritual Director and resident teacher. These proposals will be discussed at the AGM. ## **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 £129,727 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** As stated last year, 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 initially calculated that £15,000 needs to be retained as a contingency. At last year’s AGM our accountant advised that this be increased to £30,000, which was agreed by all Trustees. As at 31 December 2021, 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 continue to offer our usual residential retreat programme at Satipanya Buddhist Retreat. As well as Insight Meditation, retreats also cover other themes such as body care, insight dialog, 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 2022 - To review and formally adopt a health and safety policy document as recommended by the Charity Commission. - To finalise our discussions on the question of Trustee Liability cover. - To have a formal blessing ceremony for the Zen Bell and the commemorative wall and place the first plaque on the wall commemorating Bhante Bodhidhamma’s first teacher, the Reverend Vajira. - To continue to develop the banks of the pond, establishing this as a place of natural beauty and biodiversity and a sanctuary for wildlife. - To consider the possibility of purchasing a premises in Shrewsbury where Bhante Bodhidhamma would live while he is not teaching. - To expand our ‘Visiting Teacher’ program as we move closer towards Bhante Bodhidhamma’s retirement. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** Company and Charity law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its financial activities for that period. In preparing those financial statements, the trustees are required to: - Select suitable accounting policies and apply them consistently; - 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 accounts; and - Prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in operation. The trustees have overall responsibility for ensuring that the company has appropriate systems of control - financial or otherwise. They are also responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the Charity and which enable them to ensure that the accounts comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud or other irregularities. Audit Fxemption The company qualifi&8 as a small ￿MpanY as defined in S477 Companies Act 2006. The directors have taken advantage of the totsl exemption from an audit provisions in S477 (1) of the Act (as it applies to registered Charities). Approval and Signature This report wa5 approved by the Satipanya Buddhist Thist Board of Directors and Trnstees and signed on their behalf by James Edward Tibby (Chair) Signed.. Date: James Edward Tibby Chair of the Satipanya Buddhist Th￿t **SATIPANYA BUDDHIST TRUST** **Independent examiner’s report to the trustees of 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 2021** The Satlpanya Buddhlst Trust DIRE￿OR5 REPORT Year Ended 315t Oecember 2021 Th¢directors ha￿pI•M￿¢￿￿hQ￿￿thÈITIlpNlforth￿pr￿jefidEd 315tLknbw1021 ol ￿Jrrnaèndthe B￿$j￿h￿rn￿lthe ttxhry5ol￿th1I,. Pr¢nrfdkn8texhrtiiinlr*lninsknt Medtt*h>)*iih the Ih•r*sytt5 lie knihDKcornp•nybyp• Th•dlivtsr5durfnitr*mrwdorr*•*www•'. t40iTill Fknnnuala Shiak•nlSeuetwl flkhard PhKYp0enlatrth Mkhael Thomas ¥ine•ntRwn 5hi4LiCOMPA14Y ￿EMPT￿y1 hvrt b¢on ytp•red onthaibm (s Saopany• 8￿￿<￿%17￿# Ohhwln¢ 5hrwhl 5Y50JN ## **The Satipanya Buddhist Trust Statement of Financial Activities(incorporating an Income and Expenditure Account) Year Ended 31st December 2021** |**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**|**2020**
**Unrestricted**
**Restricted**
**Total**
**Total**
**2021**| |---|---| ||118604
118604
95805
11
11
66
10000
10000
3000
1112
1112
10805| ||129727
129727
109677
49493
49493
62593| ||49493
49493
62593
80234
-
80234
47084
-| ||80234
-
80234
47084
957870
957870
910786| ||1038104
-
1038104
957870| The 5atlpanya Buddhlst TNst Balance Sheet As at 31st December 20ZI ID FL¥edAssers 77Y214 798119 1321 1569 185531 Jh li ￿￿kInd In Total £urr•ntuwts 19)101 Iw.. LWIths Cr•dltorS'. AmDuntilalllni ￿•*￿thI￿OnI￿r NIC l350 1350 7101 9B6871 N•t*Js•U 957871 Th• lunds•llh• (hwlty I￿104 A•Mr¥•Fund Tgtslfvn 957871 II¢J 11) fdrgctor.. thim•s mbby roi s•up•nya TN51 Approwed ## **The Satipanya Buddhist Trust** ## **Notes to the accounts Year Ended 31st December 2021** ## **1 Accounting Policies** ## **Basis of the preparation of the accounts** These financial statements have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities, Statement of Rceommended Practice(SORP revised 2005), and applicable accounting standards. ## **Incoming resources** All incoming resources are recognised when the charity is legally entiltled to the income and the amount can be quantified with reasonable accuracy. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that income is to be expended in a future period. ## **Resources expended** These have been analysed using both activity and natural classifications. ## **Depreciation** Depreciation is calculated to write down the cost or valuation, less estimated residual value of all tangible fixed assets over their expected useful lives on a straight line ba The rates applicable are: Land and buildings 1% Fixtures, Fittings & Equipment 20% ## **2 Tangible Fixed Assets** |Cost
At 1st January 2021
Additions/disposals
At 31st December 2021
Depreciation
At 1st January 2021
Charge for the year
At 31st December 2021
Net Book Value
At 1st January 2021
At 31st December 2021|861142
73962
861142
73962
82974
54011
8611
12294
91586
66305
778168
19951
769557
7657
**Land &**
**Buildings**
**Fixtures,**
**Fittings &**
**Equipment**|**Total**
935104| |---|---|---| |||935104
136985
20905| |||157891
798119| |||777213| - **3 Net incoming/outgoing resources for the year** **2021 2020** This is stated after charging: **Total Total** Depreciation 20905 ## **The Satipanya Buddhist Trust** ## **Notes to the accounts Year Ended 31st December 2021** ## **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
01.01.2021 Incoming Outgoing 31.12.2021
Unrestricted Funds General Fund 927870 129727 49493 1008104
Reserve Fund 30000 30000
957870 129727 49493 1038104
Restricted Funds
957870 129727 49493 1038104
**----- End of picture text -----**
## **The Satipanya Buddhist Trust Statement of Financial Activities(incorporating an Income and Expenditure Account) Natural Classification Year Ended 31st December 2021** |**Receipts**
**Deposits for courses**
**Donations - Gift Aid**
**Donations Non Gift Aid**
**Gift Aid Income from HMRC**
**Interest Earned**
**Other Income:Covid Grant**
**Other Income:Sundry**
**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**
**Office costs**
**Paypal Fees**
**Professional Fees**
**Rates**
**Sewage**
**Subscriptions**
**Sundry**
**Telephone and internet**
**Travel and fuel**
**Vehicle**
**Website**
**Depreciation**
**Total Expenditure**
**Net Income**
**Transfers to/from**
**Brought Forward**
**Carried Forward**|**Unrestricted**|**Restricted**|**Total Funds**| |---|---|---|---| ||**£**
22015
35299
53020
8270
11
10000
273
839|**£**|**£**
22015
35299
53020
8270
11
10000
273
839| ||||| ||||| ||**129727**
1080
89
2780
231
5411
84
2791
561
2025
26
5495
1444
58
1030
1149
910
900
377
100
551
344
247
606
300
20905||**129727**
1080
89
2780
231
5411
84
2791
561
2025
26
5495
1444
58
1030
1149
910
900
377
100
551
344
247
606
300
20905| ||**49493**
80234
-
957871|-|**49493**
80234
957871| ||**1038104**|**-**|**1038104**| Independent examlnerfs report to the tntstees of Satlpanya B￿ldhiSt Trust Charity Number 1116668 I report on the accounts of the company for the year ended 31 December 2021 Respertlve responslbllhles of tnstees and examlner The trustees (who are also the directors of the company for the pufposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for thls year under section Charities Art 2011 and that an independent examination is needed. Having satisfied myself that the tharity is not subjett 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 Art. to follow the procedures laid down in the general Direttions glven by the Charity Commission under settion 14515)Ib) of the 2011 Att: and to state whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination was carried out in accordance with the general Directicffis given by the Charity Commission. An examination indudes a reNllew of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also indudes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as tnjstees concerning any such matters. The prO￿dureS undertaken do not provide all the eviden￿ 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 statement below. Independent examlnerfs ststement In connection with my examination, no matter has come to my attentlon: (l) whlch gives me reasonable cause to belleve that In any materlal respect the requirements: to keep accounting records in accordan￿ with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2LYJ6 and with the methods and princlples of the Statement of Recommended Prartice: Accountin8 and Reporting by Charities have not been metr or (2) to which, in my opinion. attention should be drawn in order to enable a proper understsndin8 of the accounts to be reached. John Hi8son Bsc Oak Ridge, Edgton Craven Arms Shropshire Sfl 8HW Date: