OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

SATIPANYA BUDDHIST TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 December 2022

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 Gwen Sanderson

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:

Review of activities

Residential Courses:

Satipanya re-opened to the public for its first full year since the Covid-19 lockdown in 2020. The winter, Easter, summer and autumn retreats were all offered as residential courses. A set of procedures and rules were applied to minimise the risk of covid, flu and other infections 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 outbreaks of covid or other infection occurred during the retreats.

Bhante Bodhidhamma also returned to his regular ‘Outside-Satipanya’ teaching schedule, travelling to Ireland and to Gaia House in Devon during Spring and then to the continent and various UK locations in Autumn before commencing his own personal retreat in Germany.

On-Line Teachings and Support:

In parallel with the residential courses, the On-line Meditation Hall, the Satipanya Spiritual Companions and the London and South-East Satipanya Sangha all continued on-line, thereby

offering meditation and teaching / Sangha support for people in their ordinary daily lives. All programs continued to be well supported.

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.

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

New Initiative: The Spiritual Challenge of Climate Change

Considering the increasing concerns over climate change, Bhante Bodhidhamma invited Gwen Sanderson, one of our Trustees and also a regular retreatant and Mahasi devotee, to write a piece for the August Newsbyte on a “Deep Adaptation” workshop she had attended; this had been led by the scientist-cum-activist Jim Bendell, and explored how humanity might adapt and even thrive despite the coming social stress and breakdown which many now consider inevitable due to climate change. Following from this, Bhante hosted an on-line meeting to discuss Gwen’s piece and support practitioners in bringing the issue into their spiritual lives. Resulting from this, two further initiatives commenced:

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 2022:

Objective: Progress to date:

ratification at coming AGM

Postponed till coming year

A number of flowering plants water mint, purple loosestrife and forget-me-not

Under Review as priority is now to find a nearby dwelling for a manager.

.

As noted last year, it was disappointing to find our plans for a cabin rejected by the council. In the light of this, we have approached our local councillor asking for his support for the initiative. 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 2022 of £109,906

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 in previous years, 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

The trustees have identified the following objective for the year to 31 December 2023:

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:

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 Exemption The company qualifies as a small company as defined in S477 Companies Act 2006. The directors have taken advantage of the total exemption from an audit provisions in S477 {1) of the Act las it applies to registered eharities). Approval and Signature This report was approved by the Satipanya Buddhist Trust Board of Directors and Trustees and signed on their behalf by James Edward Tibby (Chair) Signed: Date: 26.Q&_ James Edward Tibby Chair of the Satipanya Buddhist Trust

Independent examlnerfs report to trustees of Satipanya B4Kldhist Tr￿t Charity Number 1116668 I report on the accounts of the company for the year ended 31" December 2022 Respectl¥e responslbllltles of trustees arKI examlner The trustees {who are also the rfirector5 of the company for the purposes of company law) are responsible for the preparatlon of the accounts. The trustees consider that an audit 15 not required for this yeaf under section Charitie5 Act 2011 and that an independent examination is needed. Having satlsfied myself that the tharity Is not subjectto audit under company law and is eligible for independent examination, it is my responsibillty to: examine the accounts under section 145 of the 2011 ACL. to follow the procedures laid down in the general Directions glven by the Charity Comffli55ion under sectlon 145{5llb) of the 2011 Actr. and to state whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination was carried out in accordance th the general Directions given by the Charity Commission. An examination includes a review of the acc(wntln8 records kept by the charlty 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 trustees conceming any such matters. The procedures undertaken do not provide all the eviden￿ that wwld be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair vievl and the report is limited to those matters set out in the ststement below. Independent examinerfs siatsment In conneciion wvth my examination. no matter has come to my attention: {1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accourbting records in with Settl￿ 386 of the Companies Act 2Ix)6' and to prepare accounts which accord with the accounting records, comply with the accountlng requirements of section 396 of the Companies Act 2(￿ and with the methods and principles of the Ststement of Recommended Practi￿. Accounting and Reporting by Charities have not been met or 12) to which, in my opinion, attent5on should be drawn in order to enable a proper understanding of the accounts to be reached. John Hl8son Bsc Oak Ridge, Edgton Craven Arms Shropshire SY7 8HW IILq.K 2AI L3 Date:

The Sa panya Buddhist Trust Sa panya, White Grit Minsterley Shrewsbury Shropshire SY5 0JN

Company No. 05924965 Charity 1116668

Accounts for the year ended 31st December 2022

The Satipanya Buddhlst Trust DIRECTORS REPORT Year Ended 31st December 2022 The direcEOiS have pleasure in submit ng thebr Report for the period ended 31st December 2021 PRINCIPALAcrnimES Thè principal objectiwes of the Charity are to advance Buddhism bv= Teaching the practi-e ol Insight MeditatiJn Ivipassana Bhavanal a5 taught by the Mahasi TraditiDn of Burma and the 8uddhadhamma Iihe teachings of Buddha).. Providing teacher training in Insight Meditati)n with the Mahasi fraditign.. and Furthering the BUddhadhètnr￿a and Insight Meditatitsn. RESUITS The re5uIt5 are shown in the aicompanying pages DIREcfoRS The directors durin8 the year under review were.. James Edward fibbylchairl Noirin Fionnuala Sheahan (Secr￿ary} Richard Philip Benjatnin Michael Thomas Vincent Re8an Alison Rosetnary Weeks MEMBERS GUARANTEE The company is incorporaled as a company limited by 8varantee and does not ha¥e a share capital. The liability ol each mernber is fixed ai an amount not to excee(S £10. SMALL COMPANY EXEMPYION In rhe opinion of the directors. the company qualifies as a small cornpany and the report and accounts have been prepared on that basis. James Edward Tlbby Ichalrto Board ofTrusteesl Datè 26-03-2a)L3 Satipanya. Vlhlte Grlt Ditherlngton Shrewsbury Shropshlr• SY5 OJN

The Sa panya Buddhist Trust

DIRECTORS REPORT Year Ended 31st December 2022

The directors have pleasure in submi ng their Report for the period ended 31st December 2021

PRINCIPAL ACTIVITIES

The principal objec ves of the Charity are to advance Buddhism by:

Teaching the prac ce of Insight Medita on (Vipassana Bhavana) as taught by the Mahasi Tradi on of Burma and the Buddhadhamma (the teachings of Buddha);

Providing teacher training in Insight Medita on with the Mahasi Tradi on; and Furthering the Buddhadhamma and Insight Medita on.

RESULTS

The results are shown in the accompanying pages

DIRECTORS

The directors during the year under review were:

James Edward Tibby(Chair) Noirin Fionnuala Sheahan (Secretary) Richard Philip Benjamin Michael Thomas Vincent Regan Alison Rosemary Weeks

MEMBERS GUARANTEE

The company is incorporated as a company limited by guarantee and does not have a share capital. The liability of each member is fixed at an amount not to exceed £10.

SMALL COMPANY EXEMPTION

In the opinion of the directors, the company qualifies as a small company and the report and accounts have been prepared on that basis.

James Edward Tibby (Chair to Board of Trustees)

Date

Sa panya, White Grit

Ditherington Shrewsbury Shropshire SY5 0JN

The Siparrya Buddhist Trnst Balano Sheet As at 3tst December 2022 FL￿A￿Sets 756376 777214 253 367219 Cash irbonkanthtn hand 289650 T•t4oJrV•nt¥M 367473 PYO970 .' Lknblmtt 1132769 1067104 1103769 1038104 Thelundsofthe thath 314698 789)n AeseNe Fuhd Tvtslfvn 1103769 1038104 l•wrf¥Edw¥rd ffttsy Ithkto Ho¥dolTiwtee51 2&-O3-2023

The Sa panya Buddhist Trust Statement of Financial Ac vi es(incorpora ng an Income and Expenditure Account) Year Ended 31st December 2022

From generated funds
Voluntary income
Investment income
From ac vi es to generate funds
From Charitable Ac vi es
Grants
Other Incoming Resources
Total incoming resources
Resources expended
Cost of genera ng funds
Charitable ac vi es
Governance costs
Total resources expended
Net change in resources before transfers
Transfers between funds
Net change in resources
Brought Forward Funds
Carried Forward Funds		 2022
2021
Unrestricted
Restricted
Total
Total
103489
103489
0
764
764
0
0
0
0
2500
0
2500
0
0
0
2028
2028
0
0
108781
0
108781
0
0
0
0
0
0
0
43116
0
43116
0
0
0
0
0
0
43116
0
43116
0
0
65665
-
65665
0
0
-
0
0
65665
-
65665
0
0
-
0
957870
0
65665
-
65665
0

The Sa panya Buddhist Trust

Balance Sheet

As at 31st December 2022

2022 2021
Fixed Assets 766376 777214
Current assets
Debtors: Trade Debtors
Other Debtors 253 1321
Cash at bank and in hand 367219 289650
Total current assets 367473 290970
less: Liabili es
Creditors:
Amounts falling due within one year Trade Creditors 1080 0
Taxa on and NIC 0 0
Accruals 0 1080
1080 1080
Net current assets 1132769 1067104
Creditors falling due a er more than one year 29000 29000
Net Assets 1103769 1038104
The funds of the charity
Unrestricted income funds 314698 1008104
Reserve Fund 789072 30000
Total funds 1103769 1038104
(a)
**The company was en tled to exemp **		 on from audit under sec on 477 of the Companies Act 2006.
(b)
No no ce has been deposited under sec on 476.
(c)
The directors acknowledge their responsibili es for:
(i) Ensuring that the company keeps accoun ng records which comply with sec on 386, and

(ii) Preparing accounts which accord with the accoun ng records, comply with the accoun ng requirements of sec on 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Prac se: Accoun ng and Repor ng by Chari es.

(d) These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

James Edward Tibby (Chair to Board of Trustees)

Approved by the board:

The accompanying notes form an integral part of these accounts.

The Sa panya Buddhist Trust

Notes to the accounts Year Ended 31st December 2022

1 Accoun ng Policies

Basis of the prepara on of the accounts

These financial statements have been prepared under the historical cost conven on and in accordance with Accoun ng and Repor ng by Chari es, Statement of Rceommended Prac ce(SORP revised 2005), and applicable accoun ng standards.

Incoming resources

All incoming resources are recognised when the charity is legally en ltled to the income and the amount can be quan fied with reasonable accuracy.

Income is deferred only when the charity has to fulfil condi ons before becoming en tled 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 ac ons.

Deprecia on

Deprecia on is calculated to write down the cost or valua on, less es

The rates applicable are:

Land and buildings 1% Fixtures, Fi ngs & Equipment 20%

2 Tangible Fixed Assets

Cost
At 1st January 2022
Addi ons/disposals
At 31st December 2022
Deprecia on
At 1st January 2022
Charge for the year
At 31st December 2022
Net Book Value
At 1st January 2022
At 31st December 2022		 Land & Buildings
861142
73962
6210
861142
80172
91586
66305
8611
8436
100197
74741
769557
7657
760945
5431
Fixtures,
Fi
ngs &
Equipment		 Total
935104
6210
941314
157891
17047
174938
777213
766376
10837

2021 2020 This is stated a er charging: Total Total

Deprecia on

17047

The Sa panya Buddhist Trust

Notes to the accounts Year Ended 31st December 2022

4 Taxa on

The Charity is exempt from Corpora on Tax on its charitable ac vi es.

5 Movements in funds

Unrestricted Funds
General Fund
Reserve Fund
Restricted Funds		 Balance
Movements in year
Transfers
Balance
01.01.2021
Incoming
Outgoing
31.12.2021
927870
108781
43116
993535
30000
30000
0
0
957870
108781
43116
0
1023535
0
0
0
0
0
0
957870
108781
43116
0
1023535

The Sa panya Buddhist Trust Statement of Financial Ac vi es(incorpora ng an Income and Expenditure Account) on Natural Classifica Year Ended 31st December 2022

Receipts
Deposits for courses
Dona ons - Gi
Aid
Dona ons Non Gi
Aid
Gi
Aid Income from HMRC
Other Income:Camellia Founda on
Interest Earned
Other Income:Sundry
Other Income:RHI
Total Receipts
Expenditure
Accountancy
Bank Charges
Electricity
Expenses
Food
Food delivery cost
Garden Maintenance
Improvements
Insurance
Maintenance - building
Maintenance - interior
Maintenance - interior:Furniture
Ofce costs
Paypal Fees
Professional Fees
Rates
Sewage
Subscrip ons
Sundry
Telephone and internet
Travel and fuel
Vehicle
Deprecia on
Total Expenditure
Net Income
Transfers to/from
Brought Forward
Carried Forward		 Unrestricted Restricted Total Funds
£
20855
30250
45970
6414
2500
764
1166
862		 £ £
0
20855
30250
45970
6414
2500
764
1166
862
0
0
0
108781
1080
258
3362
218
6285
77
2040
139
2185
1359
2191
170
247
1200
300
1218
210
100
1119
344
745
1219
17047		 0 108781
1080
258
3362
218
6285
77
2040
139
2185
1359
2191
170
247
1200
300
1218
210
100
1119
344
745
1219
17047
0
43116
65665
-
0		 0
-		 43116
65665
0
0
65665 - 65665

Independent examlnerfs report to trustees of Satipanya B4Kldhist Tr￿t Charity Number 1116668 I report on the accounts of the company for the year ended 31" December 2022 Respectl¥e responslbllltles of trustees arKI examlner The trustees {who are also the rfirector5 of the company for the purposes of company law) are responsible for the preparatlon of the accounts. The trustees consider that an audit 15 not required for this yeaf under section Charitie5 Act 2011 and that an independent examination is needed. Having satlsfied myself that the tharity Is not subjectto audit under company law and is eligible for independent examination, it is my responsibillty to: examine the accounts under section 145 of the 2011 ACL. to follow the procedures laid down in the general Directions glven by the Charity Comffli55ion under sectlon 145{5llb) of the 2011 Actr. and to state whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination was carried out in accordance th the general Directions given by the Charity Commission. An examination includes a review of the acc(wntln8 records kept by the charlty 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 trustees conceming any such matters. The procedures undertaken do not provide all the eviden￿ that wwld be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair vievl and the report is limited to those matters set out in the ststement below. Independent examinerfs siatsment In conneciion wvth my examination. no matter has come to my attention: {1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accourbting records in with Settl￿ 386 of the Companies Act 2Ix)6' and to prepare accounts which accord with the accounting records, comply with the accountlng requirements of section 396 of the Companies Act 2(￿ and with the methods and principles of the Ststement of Recommended Practi￿. Accounting and Reporting by Charities have not been met or 12) to which, in my opinion, attent5on should be drawn in order to enable a proper understanding of the accounts to be reached. John Hl8son Bsc Oak Ridge, Edgton Craven Arms Shropshire SY7 8HW IILq.K 2AI L3 Date: