SATIPANYA BUDDHIST TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 December 2024
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 2024. 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 Charites 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 the 2023 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:
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Teaching the practice of Insight Meditation (Vipassana Bhavana) as taught by the Mahasi Tradition of Burma and the Buddhadhamma (the teachings of Buddha);
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Providing teacher training in Insight Meditation within the Mahasi Tradition; and
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Furthering the Buddhadhamma and Insight Meditation.
Review of activities
Residential Courses:
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.
Bhante Bodhidhamma continued to offer the Wintertime “Practice in Ordinary Daily Life” (PODL) course which runs during January, February and March. Each month starts with a Day Retreat which includes a discussion in the late afternoon on how to take the practice into ordinary daily life.
Retreatants then email Bhante with their commitments. The following Sunday there is a meeting for meditation practice which follows with an opportunity to share experiences.
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.
Nóirín 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.
Nóirín 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.
Following from the above, Nóirín has collected the notes and exercises from courses over the past several years, and these are being prepared for publication online and in paperback as a new Satipanya Publication. The book is titled: “Sharing the Path” and addresses the first three sections of the Satipatthana Sutta which explore mindfulness of body, feelings, and mind. As well as Nóirín’s notes, the book includes reflections from students who participated in the courses and posted comments on the Forum. It is hoped that the publication will stir enthusiasm for Dhamma study and practice in ordinary daily life.
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 £20 a day to cover daily running costs is taken, and participants are given the opportunity to offer donations ( dana ) at the end of the retreat. Online courses are given entirely on a donation basis.
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 last year’s Trustee Report the Trustees identified the main objectives for 2024:
Objective: Progress to date: • To look for a property in Bishop’s Castle or other nearby town 44 Corporation St was to house a future manager. p urchased on 15 November • To make the house fit for purpose: until a manager is appointed The house has been furnished it will be used for personal retreats as well as the planned weekly and fences / gates erected group meetings . to secure the property • To continue to explore the appointment of managers to ensure Tomas Remiarz (meditation Satipanya will continue to function as Noirin and Bhante move student and professional toward retirement . gardener) appointed as Property Manager. • To expand our ‘Visiting Teacher’ program as we move Hui Hui Ng taught for closer towards Bhante Bodhidhamma’s (and Noirin’s) 6 weeks and Mark Arthur retirement. taught the autumn weekend. • To approach potential new teachers regarding future teaching Bhante secured commitments at Satipanya. to teach from S Vajiranyani Pierre Crot, Gautam Verma & Phra Aren Abhipassano. • To continue the 24-week spring / summer course as well as the Courses commenced established autumn program consisting of a further 9 week’s in April and ran till teaching plus a weekend course. early December. • To offer a fortnight residential course in winter to facilitate The course was offered gardeners etc who have little work at this time of year. by Bhante Bodhidhamma in January. • To continue to develop the grounds and garden for beauty New plants seen at the pond and biodiversity. E.g. yellow loosestrife, wild fig, Moorhen family had two nests. Black rabbits have multiplied! • To have a formal blessing ceremony for the Zen Bell and the Postponed till coming year the commemorative wall.
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 2024 of £136,571
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 the 2021 AGM our accountant advised that this be increased to £30,000, which was agreed by all Trustees. As at 31 December 2024, 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 considered the most appropriate use of our savings was to purchase a house in Bishop’s Castle as accommodation for a manager when Noirin retires and to facilitate local group meetings. In the interim the house will be used for personal retreats. Remaining savings are presently invested in short term cash deposits and consideration is being given to the purchase of a bungalow in Shrewsbury to facilitate Bhante Bodhidhamma’s retirement as well as provide a focus for local group meditation meetings.
PLANS FOR THE FUTURE
The trustees have identified the following objective for the year to come:
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To support and develop the house at Bishops Castle as a centre for a local group and a residence for personal retreats.
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To consider whether to purchase a bungalow in Shrewsbury to facilitate Bhante Bodhidhamma’s retirement as well as provide a meeting place for a local group.
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To continue to expand our ‘Visiting Teacher’ program as we move closer towards Bhante Bodhidhamma’s retirement.
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To continue to explore the future management of Satipanya, including support for Tomas Remiarz as Property Manager.
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To provide a residential winter retreat to facilitates gardeners and others who have little work in winter but cannot easily avail of our summer / autumn retreat program.
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To continue with the 24-week spring / summer residential as well as the 9-week autumn program.
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To Publish “Sharing the Path Part 1” the collection of notes and exercises from Noirin’s online courses on the Satipatthana Sutta. This will be a Satipanya Publication and available as an ebook and as a paperback.
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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.
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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.
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To have a formal blessing ceremony for the Zen Bell.
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To complete the upgrade of the Internet. The local firm SWS was taken over by a large firm, Vonage and their support has been bad enough for them to send an apology to their local customers. However, there is a possibility the fault was in our system. Carl has offered to upgrading the wiring from 1mps to 10mps and place in the Office a state-of-the-art internet system. We will pay for the equipment, but Carl has offered his labour as a donation.
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:
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Select suitable accounting policies and apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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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 directors have taken advantage of the total exemption from an audit provisions in S477 (1) of the Act (as it applies to registered charities).
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: 23-03-2025 J. Tibly James Edward Tibby Chair of the Satipanya Buddhist Trust
Independent examinerfs report to the trustees of Satipanya Buddhlst Trust Charlty Number 1116668 I report on the accounts of the company for the year ended 315t December 2024 Respective responslbllltles of trustees and examlner The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section Charities Act 2011 and that an independent examination 15 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 Act: to follow the procedures laid down in the general Dirertions given by the Charity Commission under section 145{5)(b) of the 2011 Att; and to stste whether particular matters have come to my attention. Basls of Independent examlnerfs report My examinatlon was carried out in accordance with the general Dlrections 8lven by the Charity 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 disclosures In the accounts, and seekin8 explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and falr view, and the report is limited to those matters set out in the ststement below. Independent exarnlnerfs ststement In connection with my examlnatlon, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records In accordance with section 386 of the Companles Act 21X)6' and to prepare accounts whlch accord with the accounting records, comply wlth the accountin8 requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been meL or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. John Higson Bsc Oak Ridge, Edgton Craven Arms Shropshire 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 2024
The Satlpanya Buddhlst Trust DIRECTOR5 REPORT Year Ended 31st December 2024 The directors have ple8sure in 5ubrnittin8the•r Report forthe peth)d ended 31stDErnberlQ2Z PRINapALArnvmES The prlnelpal oblectlves of the Charity are toadvant? 8uddh15m bv.. Teichlngthe pratuce of Insight Meditstion IWpass)na 8havanal as taught bythe mohaTradItIon of Burma and the Buddh•dhamma (the teachings of Buddha)., Pmwdlng reachertralnlnE In Insight Medkatlon %th the Mahasl Tradltlon.. and Furtherlng the Buddhadhamrna and Insight Medltadon. RESULYS The resuks are5hown in theatcompanyin8 pa8•5 DIREcfoRS The dSrectors durlnctheyeaT uTrder revlew werE'. James Edward Tlbbylchalrl Rlchard eenjatDln ITrea5urerl Noirin Sheahall (Secretary). Mlchael Thomasvincent Regan Gwen Sanderson MEMBERS GUAPANTEE The£oTnpany is incorporated 35 a companylrfflked bygu3rantee and does not have a share capltal. The Ilablllty uf Eath mernber i5fixed * an amount notto exceed £10. SMALLCOMPAIIY EXEMPTION In the oplnkin of the dlrectors, the company quaimesa5 a small companyand the report and accounts have been prepared that ba515. Jimes EdvArdfibbylChairto Boord of Tru5teesl Date 2014, 5ai1pathyWheGr1l Dltherfngton 5hrew$bwy 5hropshlre SY5 QJN
The Satlpanya Buddhlst Trust Balance Sheet As at 31st December 2024 1033723 749329 Oebtors.. Trade Debtors Other Debtars 2351 sh¥t bank ahd In 0279 Total curreniassets 255156 456919 Ipss: Llabllltle5 Cr•dltors- Amounts fallidu• wkhln otyeyea Tradi créd15 Tixlon and Illc Aul1$ rIeaSSets 1287799 1205168 dlErysfallln4dueaftor mwethinoneyear P4•tAsséts 1258799 1176168 Thefund$ of Ih•charlty LlnrestrIct Incomefvhds R5erv2 Fund 1228799 114616 Totsi funds 1258799 1176168 ThetompgnywastnthlEd to e•lon Irom8udk under¥¢rtlon 477 olthe Companles Act 21#>6. No no¢&ha$bn d@pothed undelsectlon 476. Thedlr8Ctors •cknowted¥etholrresponslbJWtles fvyr (11 EThswlnith•tthecompany k¢ep$4¢¢ountln¥record5whlch mplYWith5illn 34 and 1111 Prep•rinÈac£ountswhlch a¢cordv41th th? atcouktln8re¢ord$, ¢omply wlthth¢ttountlni requlrements SectIon 396of the ¢omp•nOesArt 2006ahd wlth the m¢tlh)d5 and prlrKtpl# of the5t4t•m•nt of Retommendtd PraLttse'. Acwwnriryand Reportlh8 by Ch3rttlw. These accourfs have been prepaiod In4¢¢ordathtewlththe provlslons applkabl•tot•mwles subject tothe small comp•nlt¢ Jarnes EdwatdTlbby lthalrto Brd ofTrust•g$1 Appwo¥•d by the board.. ,I,Igo ThÈ*ttompanylrKnotesform a#lnteRral part of theseaounts.
The Satipanya Buddhist Trust
Notes to the accounts Year Ended 31st December 2024
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% Bishop's Castle House 0%
2 Tangible Fixed Assets
| Cost At 1st January 2024 Additions/disposals At 31st December 2024 Depreciation At 1st January 2024 Charge for the year At 31st December 2024 Net Book Value At 1st January 2024 At 31st December 2024 |
Total 861142 290000 80172 1231314 Land & Buildings Fixtures, Fittings & Equipment Bishop's Castle House |
|---|---|
| 861142 290000 80172 1231314 108809 83177 191986 8611 (3005) 5606 |
|
| 117420 80172 197592 752334 (3005) 749329 |
|
| 743722 290000 0 1033722 |
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3 Net incoming/outgoing resources for the year
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| 2024 | 2023 | |
|---|---|---|
| This is stated after charging: | Total | Total |
| Depreciation | 5606 | 20905 |
The Satipanya Buddhist Trust
Notes to the accounts Year Ended 31st December 2024
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 01.01.2024 Incoming Outgoing 31.12.2024 1146168 136571 (47702) (6239) 1228799 30000 30000 Movements in year |
|---|---|
| 1176168 136571 (47702) (6239) 1258799 (6239) 6239 0 |
|
| 1176168 136571 (53941) 1258799 |
The Satipanya Buddhist Trust Statement of Financial Activities(incorporating an Income and Expenditure Account) Natural Classification Year Ended 31st December 2024
| Receipts Deposits for courses Donations - Gift Aid Donations Non Gift Aid Gift Aid Income from HMRC Interest Earned 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 Office costs Paypal Fees Professional Fees Visiting Teacher Donations Rates Sewage Subscriptions Sundry Telephone and internet Travel and fuel Vehicle Depreciation Total Expenditure Net Income Transfers to/from Brought Forward Carried Forward |
Unrestricted | Restricted | Total Funds | Total Funds 2023 |
|---|---|---|---|---|
| £ 32430 31094 54781 9324 8035 906 |
£ | £ 32430 31094 54781 9324 8035 906 |
£ 27830 33609 53144 9511 5352 738 |
|
| 136571 1080 241 12265 452 7476 96 2125 159 1921 2550 1618 2058 62 2034 948 2252 823 230 125 1160 841 235 1342 5606 |
17 240 2059 3551 372 |
136571 1080 241 12265 452 7476 96 2125 159 1921 2568 1858 4117 62 2034 4499 2252 823 230 125 1532 841 235 1342 5606 |
130184 1080 253 6756 853 8472 95 2147 1868 1998 3110 32 955 1641 6060 639 265 100 390 1169 1031 1824 17047 |
|
| 47702 88869 (6239) 1176168 |
6239 (6239) (6239) - |
53941 82631 1176168 |
57785 72399 1103769 |
|
| 1258799 | 0 | 1258799 | 1176168 |
Independent examinerfs report to the trustees of Satipanya Buddhlst Trust Charlty Number 1116668 I report on the accounts of the company for the year ended 315t December 2024 Respective responslbllltles of trustees and examlner The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section Charities Act 2011 and that an independent examination 15 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 Act: to follow the procedures laid down in the general Dirertions given by the Charity Commission under section 145{5)(b) of the 2011 Att; and to stste whether particular matters have come to my attention. Basls of Independent examlnerfs report My examinatlon was carried out in accordance with the general Dlrections 8lven by the Charity 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 disclosures In the accounts, and seekin8 explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and falr view, and the report is limited to those matters set out in the ststement below. Independent exarnlnerfs ststement In connection with my examlnatlon, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records In accordance with section 386 of the Companles Act 21X)6' and to prepare accounts whlch accord with the accounting records, comply wlth the accountin8 requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been meL or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. John Higson Bsc Oak Ridge, Edgton Craven Arms Shropshire SY7 8HW Date: