2023-12-31-accounts - Satipanya Buddhist Trust

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SATIPANYA BUDDHIST TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 December 2023

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 2023. 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, adopted at last year’s 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

Residential Courses:

Winter, 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.

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.

Gwen Sanderson continued facilitating monthly on-line Zoom meetings “Satipanya Climate and Crisis Conversations” to provide meditative discussion on climate-change and how this is impacting on people’s lives.

Noirin continued supporting the on-line forum based around the ‘Six Maxims’ – practices that have been suggested as ethical training to prepare for the challenges that will be presented if and when social structures collapse under pressure from climate change.

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

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 2022 the Trustees identified the main objectives for 2023:

Objective: Progress to date:

To offer a 24-week spring / summer course in place of our The new course commenced usual 12-week Winter and 12-week summer retreats. This in April and ran till reduces the covid risk and also heating costs. September
To endevor to get planning permission to develop the barn Planning consultant next door as a dwelling place for a manager . advised against this. .
To expand our ‘Visiting Teacher’ program as we move Hui Hui Ng taught for closer towards Bhante Bodhidhamma’s retirement. 14 weeks and Mark Arthur joined teaching program.
To review and formally adopt a health and safety policy Policy reviewed and ratified document as recommended by the Charity Commission. at AGM
To finalise our discussions on the question of Trustee Document ratified at AGM Liability cover.
To continue to develop the banks of the pond, establishing Many new plants were seen this as a place of natural beauty and biodiversity including marshmallow, and a sanctuary for wildlife. birdsfoot trefoil meadowsweet, hemp
agrimony, wood rush. Moorhens nested and chicks

reared.

Bullrushes cleared.

To have a formal blessing ceremony for the Zen Bell and the Postponed till coming year the commemorative wall.

It was disappointing to have our latest plans for a cabin advised against by a planning consultant. We are now considering the purchase either of a nearby house or one in Bishops Castle as a dwelling place for a manager. The latter could also be used as a Vihara to support local group meetings. 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 2023 of £130,184

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 2024:

To firm up on plans for future management of Satipanya, including decision on whether to purchase house locally or in Bishops Castle as a dwelling place for a manager. Also to decide whether management position should be voluntary or paid.
To continue with the 24-week spring / summer course in place of our usual 12-week Winter and 12-.week summer retreats. This change minimises covid and winter flu risks as well as reducing energy costs.
To continue to offer a varied retreat programme which provides participants with the opportunity to deepen their meditation practice, to develop calmness and to improve their well-being in a peaceful rural setting.
To continue our on-line offerings to support practice outside of retreat, facilitate dhamma understanding via various on-line teaching programs, and to continue our particular focus on the spiritual challenge posed by climate change.
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 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 Exemption The company qualifies as a small company as defined in S477 Companies Act 2006. The direetOTS have taken advantage of the total exemption frum an audit provisions in S477 (1) of the Act las it applies to registered eharities}. Approval and Signature This Teport was approved by the Satipanya Buddhist Trust Board of DireetOTS and Trustees and signed on their behalf by James Edward Tibby (Chair} Signed.. Date.. James Edward Tibby Chair of the Satlpdnva Buildhist Trust

Independent examinerfs report to the trustees of Satipanrd Buddhist Trust UrIty Number 1116668 I report on the accounts of the companyfor the year ended 31" December 2024 Respertive responslbllltles of trustees •fKI examlner The trustees (who are also the direct5 of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit 15 not required for this year under settion Charities Act 20113nd that an independent examination is needed. Having satisfied myself that the tharity 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 Ac¢. to follow the procedures laid down in the Eeneral Directions wen by the tharity Commission under section 14515)Ib) of the 2011 Actr, and to stste whether particular matters have come to my attention. Basls of lThlependent examlnerf$ report My examination was carried out in accordance with the general Directims w by the Charity Commission. An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts presented with those record5. It a150 indudes consideration of any unusual items or dlsdosures In the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the eviden that would be fequired in an audit and consequently no opinion is given as to whether the accounts present a true and faif vievK and the report is limited to those matters set out in the ststemart below. Independent examlnerfs st*emert In connection with my examlnatlon, no matter has come to my attenti(xi: {1} whith gives me reasonable cause to believe that in any matefial respect the fequirements: to keep accounting recd$ in accordan with settion 386 of the Companles Act 2(K)6' and to prepare accounts which accord with the accountin8 records. comply with the accountin8 requirements of Secti 396 of the Companies Att 26 and with the methods and prinaples of the 5tstemptht of Recommended Practi. Accountin8 Reporting by Charities have notbeen met or (2) to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be feached. John Hig50n Bsc Oak Ridge, Edgton Craven Arnis Shropshtre SY7 8HW Date:

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

Company No. 05924965 Charity 1116668

Accounts for the year ended 31st December 2023

The Satipanya Buddhist Trust

DIRECTORS REPORT Year Ended 31st December 2023

The directors have pleasure in submitting their Report for the period ended 31st December 2022

PRINCIPAL ACTIVITIES

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.

RESULTS

The results are shown in the accompanying pages

DIRECTORS

The directors during the year under review were:

James Edward Tibby (Chair) Richard Benjamin (Treasurer) Noirin Sheahan (Secretary), Michael Thomas Vincent Regan Gwen Sanderson

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

Satipanya, White Grit Ditherington Shrewsbury Shropshire SY5 0JN

Fixed Assets 749329 Current assets Debtors: Trade Debtors Other Debtors 2351 253 Cash at bank and in hand 454569 367219 Total current assets 456919 less: Liabilities Creditors: Amounts falling due within one year Trade Creditors Taxation and NIC Accruals 1080 1080 1080 Net current assets 1205168 Creditors falling due after more than one year 29000 Net Assets 1176168 The funds of the charity Unrestricted income funds 1146168 Reserve Fund 30000 Total funds 1176168 (a) The company was entitled to exemption from audit under section 477 of the Companies Act 2006. (b) No notice has been deposited under section 476. (c) The directors acknowledge their responsibilities for: (i) Ensuring that the company keeps accounting records which comply with section 386, and (ii) Preparing accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practise: Accounting and Reporting by Charities. (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 Satipanya Buddhist Trust Balance Sheet As at 31st December 2023 2023	2022	766376
	367473
	1080 29000
		1132769
		1103769
		1073770 30000
		1103769

The Satipanya Buddhist Trust

Notes to the accounts Year Ended 31st December 2023

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 basis.

The rates applicable are:

Land and buildings 1% Fixtures, Fittings & Equipment 20%

2 Tangible Fixed Assets

Cost At 1st January 2023 Additions/disposals At 31st December 2023 Depreciation At 1st January 2023 Charge for the year At 31st December 2023 Net Book Value At 1st January 2023 At 31st December 2023	861142 80172 861142 80172 100197 74741 8611 8436 108809 83177 760945 5431 752334 -3005 Land & Buildings Fixtures, Fittings & Equipment	Total 941314
		941314 174938 17047
		191986 766376
		749329

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3 Net incoming/outgoing resources for the year
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	2022	2021
This is stated after charging:	Total	Total
Depreciation	17047	20905

The Satipanya Buddhist Trust

Notes to the accounts Year Ended 31st December 2023

4 Taxation

The Charity is exempt from Corporation Tax on its charitable activities.

5 Movements in funds

Unrestricted Funds General Fund Reserve Fund Restricted Funds	Balance Transfers Balance 01.01.2023 Incoming Outgoing 31.12.2023 1073769 130184 57785 1146168 30000 30000 Movements in year
	1103769 130184 57785 1176168

	1103769 130184 57785 1176168

The Satipanya Buddhist Trust Statement of Financial Activities(incorporating an Income and Expenditure Account) Natural Classification Year Ended 31st December 2023

Unrestricted	Restricted	Total Funds	Total Funds 2022
£ 27830 33609 53144 9511 5352 738	£	£ 27830 33609 53144 9511 5352 738	£ 20855 30250 45970 6414 764 862 1166 2500


130184 1080 253 6756 853 8472 95 2147 1868 1998 3110 32 955 1641 6060 639 265 100 390 1169 1031 1824 17047		130184 108781 1080 1080 253 258 6756 3362 853 218 8472 6285 95 77 2147 2040 139 1868 2185 1998 1359 3110 2191 32 170 955 247 1641 1200 6060 300 639 1218 265 210 100 100 390 1119 1169 344 1031 745 1824 1219 17047 17047
57785 72399 - 1103769	-	57785 72399 1103769	43116 65665 1038104
1176168	-	1176168	1103769