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2021-12-31-accounts

ANNUAL REPORT & FINANCIAL STATEMENTS

for the year ending 31 December 2021

MOOJI FOUNDATION LTD A REGISTERED CHARITY and COMPANY LIMITED BY GUARANTEE Company Number: 07086049 Registered Charity Number: 1144016

Mooji Foundation Ltd

INDEX
PAGE
Trustees’ Report
Reference and Administrative Details of the Charity, 3
its Trustees and Advisors
Structure, Governance and Management 4 - 5
Objectives & Activities 5
Achievements & Performance 6 – 10
Financial Review 10
Future Projects 10 - 11
Statement of Trustees’ Responsibilities 12
Independent Auditor’s Report 13 - 16
Consolidated Statement of Financial Activities 17
Balance Sheets 18
Statement of Cash Flows
19
Notes to the Accounts
20 - 26

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Mooji Foundation Ltd

Report of the Trustees for the year ending 31 December 2021

The Trustees present their Annual Report and audited financial statements for the year ending 31 December 2021 and confirm compliance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), the Memorandum and Articles of Association and the Charities SORP (FRS 102).

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name: Mooji Foundation Ltd Charity Registration Number: 1144016 Registered Address: 447 Staines Road West, Ashford, Middlesex, TW15 2AB, UK Website: www.moojifoundation.org www.mooji.org Honorary Patron: Anthony Paul Moo-Young (Sri Mooji) Board of Trustees: Amrit Kaur Arun Melwani Fatoumata Kamissoko Kanoute Rhonda Lee Johnson Sara Jonsson Advisors: Davorka Kulas (Accountant) DK London Ltd. 447 Staines Road West, Ashford, Middlesex, TW15 2AB – UK Auditor: Moore Kingston Smith LLP The Shipping Building The Old Vinyl Factory Blyth Road, London, UB3 1HA

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STRUCTURE, GOVERNANCE & MANAGEMENT

Mooji Foundation Ltd. originated as a group of volunteers who were following and practising the spiritual teachings of Advaita Vedanta, taught by Sri Mooji. It was incorporated in November 2009 as a Company Limited by guarantee with Companies House (07086049). It was granted Charitable Status by the Charity Commission of England and Wales in September 2011 with Charity Registration Number 1144016.

Volunteers

The Trustees and all who are connected with Mooji Foundation would like to express our deep gratitude to our spiritual teacher, Sri Mooji, for his selfless service, love and presence. The contribution of volunteers in Mooji Foundation is invaluable, as so much work takes place through selfless service. Volunteers come forward after benefiting from Satsang, wishing to support the teachings and thus benefit others.

Governance

We, the Trustees, are responsible for overseeing and creating policies for the management of the Charity. We offer our time voluntarily in service of making the teachings available to all. The Trustees receive no remuneration or other financial benefits from this service. The Charity has 4- 8 Trustee meetings per year.

The Trustees are responsible for the recruitment of new Trustees. During this recruitment process, people that have volunteered with the organisation for some years and demonstrate a wisdom and discernment that is in line with the Charity’s objectives are considered.

Potential Trustees are invited to meetings before they are appointed so that they are aware of the scope of the work and the responsibilities of the Trustees. A consensus vote is then made amongst the current Trustees. This method allows due consideration of the person’s eligibility, personal competence, specialist knowledge and skills. Following appointment, the new Trustees are introduced to their role and are briefed on the policies and guidelines of the Charity and the scope of the work that currently takes place. They are also given access to a library of the Charity Commission’s guidelines.

Management

The Trustees keep in close contact with key members of the organisation to ensure that we are operating smoothly, including updating policies and procedures as relevant. The Trustees continue to ensure that the organisation always moves in integrity and that its objects remain at the heart of all we do.

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Related Parties

Mooji Foundation Ltd works in collaboration with Mooji Media Ltd (our trading subsidiary) and Associação Mooji Sangha (AMS) based in Portugal. This collaboration greatly facilitates the furthering of our objects.

OBJECTIVES & ACTIVITIES

Purpose

The Charity’s objects as set out in our governing document are: the promotion of moral and spiritual welfare of all through the teachings and practical methodology of the Advaita Vedanta school of Hindu philosophy.

Main Activities

We are dedicated to sharing the knowledge of Advaita Vedanta (non-duality), and to encourage and facilitate its practice. The understanding and application of this teaching is fully facilitated by Sri Mooji, whose guidance, wisdom and presence bring many followers into the direct experience of one’s true nature.

In 2021, the Covid-19 pandemic continued to present more challenges and considerations that directly and indirectly affected the Charity. We continued to fulfill our charitable purposes in 2021 by:

The trustees have considered the Charity Commission’s public benefit guides, namely PB1, PB2 and PB3 during the planning and evaluation of our activities.

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ACHIEVEMENTS & PERFORMANCE

The main avenues through which we carry out our work are: Satsang Events, the International Community (Sangha), Online Offerings (free audio-visual material), Translations, Monte Sahaja Centre for Self-realisation, financial grants and concessions, and, Mooji Media Ltd (trading subsidiary). Despite the challenges that were presented due to the global pandemic, we were still able to continue and further the Charity’s objectives by delivering these teachings in new and diverse ways.

Being spiritual in nature, the benefit to the public is more qualitative than quantitative. These teachings are broad, universal and inclusive of everyone. As someone matures in the understanding of their true nature, they naturally bring this unity and acceptance to all they meet, promoting peace, love, compassion and kindness.

Furthermore, there are greater and greater numbers of people who are resonating with these teachings. These can be measured through growing numbers following and subscribing to our online channels. Those adopting these teachings are from all over the world, from diverse cultures and religions.

Testimonials

We receive many accounts from people all around the world, expressing how these teachings are bringing more peace and harmony into their lives and also to their families and communities. This is a direct testimony of the positive benefit and impact of these teachings to leading people to happier, more balanced and peaceful lives. Here are few of the many testimonies received:

“I started to practice the “invitation to freedom” and listen to satsangs on youtube everyday and things started to shift.

I become more peaceful and clear minded day by day. You do an amazing job offering these precious and quintessential pointings and satsangs with Mooji Baba.” - From Greece

Thank you very much to all of you for your services & support that make awakening to our true self possible. What is more beautiful than having this in this phenomenal world ! - From Singapore

“Thank you for the new website. Thank you for the concert. Thank you for chanting live every week. Thank you for everything you do to help us. And a thousand thank yous to Moojibaba.” - From France “I can’t find words to express my gratitude to Mooji Baba for the

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online satsangs. Although I have never met him physically, his pointings have saved my life. I am so deeply grateful! Many many thanks” - From Greece

THANK YOU THANK YOU THANK YOU!!

To our Beloved Mooji for his remarks... for his LOVE... for his dedication... and all that Light that emanates from his Being.... and that reaches us wherever we are!!

To all the Sangha of the World ...especially to the Sangha of Monte Sahaja for being there and making translations possible. - From Argentina

We also continue to share similar testimonials on the website: mooji.org/voices-from-satsang

MONTE SAHAJA, CENTRE FOR SELF-REALISATION

Monte Sahaja is run by Associação Mooji Sangha, a non-profit Portuguese organisation. Its activities and functions are fully aligned with Mooji Foundation’s objects. It is a place where many visitors can be immersed in the environment of Satsang and inner contemplation. The centre usually hosts different programs such as day visits, and short term and longer term guest stays, which allow people from all over the world to spend time there.

However, the activities of Monte Sahaja continued to be impacted by the Covid-19 pandemic in 2021. No physical events were planned and the centre remained closed to visitors. Yet the focus of Monte Sahaja remains on being able to share the teachings through online events and platforms, and is still the hub of how these teachings are offered.

In 2022, Monte Sahaja began opening to visitors through an application process and also began day visits for the community in the area. New guests on the land are required to undergo a selfisolation period on arrival. The centre was and is exploring ways of being able to receive visitors and guests in the current climate, and these steps towards opening in some capacity have been received with great delight and enthusiasm by the community.

INTERNATIONAL COMMUNITY

The International Sangha team supports many groups of followers around the world who meet together in the spirit of Satsang. As people connect with and apply these teachings, many feel drawn to gather with others on the same spiritual path and form a sangha group. There are over 300 groups in approximately 60 countries, and the International Sangha team supports this growing community by sharing Satsang material, facilitating and participating in online events such as the One Sangha Gathering, Sangha Sundays, zoom Satsangs with Sri Mooji and joining the individual sangha groups’ meetings. This work is very important, and both the team and the groups continually express the immense power of meeting together in this way, which assists

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each one to grow in these teachings and come to experience more peace, harmony, wisdom and balance in their lives.

The One Sangha Gathering in March was a very rich and fruitful experience where so many of the worldwide sangha and followers of these teachings met online this year. There were many country gatherings and mixed-country gatherings that took place during the event in addition to daily Satsangs. Sangha members had the opportunity to use the sacred spaces in Monte Sahaja through Zoom for contemplation. This was a new feature that our IT team had introduced during the pandemic as the next best alternative to being physically present, and this offering was a great asset. Many offered testimonials as to the power of these online spaces.

As the pandemic continued in 2021, the groups continued meeting online via Zoom—and this blossomed in a beautiful way. No longer being limited by physical proximity, many groups expanded outside of their local areas and this resulted in people being able to participate wholeheartedly who previously could not due to physical location. The International Sangha team could also easily and frequently join these meetings and gave their own accounts of the positive impact of these online gatherings, where people listened to Satsangs together. There were many live online Satsangs that also took place during these meetings.

ONLINE OFFERINGS

Continuing to share these satsang teachings freely is of utmost importance to Mooji Foundation, and material is regularly posted through different platforms. Our main online platform for sharing material is Mooji.TV, which serves as the hub of audio and video material and where satsang events are streamed. We also continue to share material regularly on YouTube, Facebook, Instagram and Twitter. The ‘Moojiji’ YouTube channel remains a very accessible platform and continues to grow in subscribers. At the end of 2021, this channel had 650,000 subscribers, an increase of 136,308 subscribers since 2020. 37 new recordings were uploaded on ‘Moojiji’ this year.

The Mooji Mala Music YouTube channel grew further this year, gaining over 69,000 subscribers and receiving over 8.2 million channel views. Mooji Mala Music channel shares music from the sangha that is inspired by Satsang. In 2021, it posted 29 new videos. The Mooji Mala Music instagram channel was also created this year.

Offering of YouTube video satsangs continued in 2021 along with ‘Quote of the Week’, where a weekly quote is emailed to subscribers. It continues to be well received, particularly by sangha groups who would come together weekly to watch these videos.

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TRANSLATION and INTERPRETING

Live (simultaneous) interpreting was offered in several languages during Online Satsang events throughout the year. This enabled participants to listen to a translation of Satsang in real-time, and was available to those joining in person or the online broadcast. For the 2 Online retreats in January and August 2021, we offered translations in 5 languages: Russian, Spanish, French, Italian and Portuguese. 198 participants took advantage of the translation services in the January retreat and 107 in the August retreat.

During the One Sangha Gathering in March 2021, the translation services were offered in 7 languages: French, Spanish, Russian, Italian, Portuguese, Czech and German.

Subtitling and Dubbing

Alongside translations for events, there is ongoing subtitling and dubbing of the shared material, as mentioned above. Subtitling and captioning online videos is an important aspect of Mooji Foundation’s work, ensuring greater accessibility of these teachings. The area of translations is supported tremendously by dedicated volunteers from all around the world, and Mooji Foundation is deeply touched and grateful for their contribution.

There are several language channels available on our YouTube channel. The most popular languages in 2021 were Russian, Spanish and French.

Approximately 1070 videos were subtitled and dubbed into 22 languages by 140 volunteers this year.

GRANTS and CONCESSIONS

In 2021, the Charity provided 473 concessions for the 2 online retreats. The Charity also continued to support Associação Mooji Sangha with grants for the running costs such as employment costs, maintenance and improvements to the infrastructure of the centre. Although the physical events of AMS couldn’t be resumed due to the pandemic, the team continued to share the teachings in more innovative ways. Some of the ways the teachings were shared were online retreats, other live events and meetings conducted on Zoom, virtual visits to contemplative spaces in Monte Sahaja, video satsangs shared through Mooji TV, satsangs shared via youtube and other online platforms, Sangha Sundays, free spiritual music online events; ensuring that the seekers can have access to the teachings without much interruption. Our focus, in collaboration with AMS, will remain to share teachings whichever way possible and the team continues to work hard to meet this objective.

MOOJI MEDIA LTD - Trading Subsidiary

Mooji Media Ltd is a trading subsidiary of Mooji Foundation and holds the copyrights of Satsang materials such as audio and video recordings, music, photos, written works and artwork,

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and works in collaboration with AMS to produce and share this material. The scope of MMLs work also includes producing and publishing Satsang books, as well as working with publishers and distributors around the world to make these teachings more widely available and in various languages. 6 new music albums were released. 3 new translated books were published.

In December 2021, MML launched the new Mooji TV website, which was an immense re-design of the website. This much-needed project was to improve the user experience and make the material more accessible. Sahaja Express, the subscription service of Mooji TV, was also redesigned in this process. New features to both Mooji TV and Sahaja Express were able to be integrated based on feedback from users, such as collections, audio-only playback and saving favorites, to name a few.

All profits arising from Mooji Media Ltd’s trading activities are donated to Mooji Foundation Ltd.

FINANCIAL REVIEW

At 31 December 2021 the Charitable group held £1,831,380 (2020: £2,351,385) unrestricted funds. The net outgoing resources in the year of £520,005 (2020: £16,086) reflects planned spend of designated funds.

Reserves Policy

The Trustees have examined the Charity’s requirements for reserves in light of the main risks to the organisation. It has established a reserves policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the Charity should be for 6 months of the expenditure. The reserves are needed to meet the working capital requirements, and as the running costs of the Charity are very low, the Trustees are confident that a reserve of £60,000 is adequate to run for 6 months. We are also reserving approximately £500,000 for contingency in light of the current worldwide economy.

Another £1 million is designated to be spent on the future projects and other relevant expenditures of AMS that are inline with Mooji Foundation’s objectives.

FUTURE PROJECTS

At the heart of everything that Mooji Foundation does is the desire to make the teachings accessible, be it physically or online. As an organisation, we are open to new ideas and implementing changes which further the Charity’s objectives. Due to the unique situation of the pandemic, the teachings in the near future seem likely to be restricted to mostly online media.

We will continue to:

support events by offering translation services

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STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees, who are also the directors of Mooji Foundation Ltd for the purpose of company law, are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources, including the income and expenditure, of the Charity company of that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as the Trustees are aware:

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

For and on behalf of the Trustees,

Amrit Kaur Trustee and Director Mooji Foundation Ltd

27/09/22

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Independent Auditor's Report on the Financial Statements to the Members of Mooji Foundation Ltd

Opinion

We have audited the financial statements of Mooji Foundation Ltd (the 'company') for the year ended 31 December 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated and Charity Statement of Cash Flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 'The Financial Reporting Standard Applicable in the UK and Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Independent Auditor's Report on the Financial Statements to the members of Mooji Foundation Ltd (continued)

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

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Independent Auditor's Report on the Financial Statements to the members of Mooji Foundation Ltd (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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Independent Auditor's Report on the Financial Statements to the members of Mooji Foundation Ltd (continued)

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and, in respect of the consolidated financial statements, to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company, the charitable company’s members, as a body, and the charity’s trustees, as a body, for our audit work, for this report, or for the opinion we have formed.

Date: ………………………………..

James Saunders (Senior Statutory Auditor) The Shipping Building for and on behalf of Moore Kingston Smith LLP, Statutory Auditor The Old Vinyl Factory Hayes London UB3 1HA

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

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Consolidated Statement of Financial Activities For the year ended 31 December 2021

(including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income from:
Donations and legacies
3
Other trading activities
4
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total resources expended
5
Net outgoing
resources before transfers
Gross transfers between funds
15
Net movement in funds
Reconciliation of funds
Total funds brought forward at 1 January 2021
Total funds carried forward at 31 December 2021
15		 Unrestricted
Funds
£
45,118
163,294
139
208,551
59,267
669,289
728,556
(520,005)
500,000
(20,005)
291,385
271,380		 Designated
Funds
£
-
-
-
-
-
-
-
-
(500,000)
(500,000)
2,060,000
1,560,000		 Total
2021
£
45,118
163,294
139
208,551
59,267
669,289
728,556
(520,005)
-
(520,005)
2,351,385
1,831,380		 Total
2020
£
462,995
225,948
469
689,412
66,811
638,687
705,498
(16,086)
-
(16,086)
2,367,471
2,351,385

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 20 to 26 form part of these accounts.

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Consolidated and Charity Balance Sheets As at 31 December 2021

Notes
Fixed assets
Intangible assets
10
Tangible assets
11
Investments
12
Total Fixed assets
Current assets
Debtors
13
Cash at bank and in hand
Total Current assets
Liabilities
Creditors: amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
Total assets less total liabilities
Funds of the charity:
Unrestricted funds:
Designated funds
15
Other charitable funds
15
Total funds		 Group
2021
£
761
-
-
761
24,435
1,825,592
1,850,027
(19,408)
1,830,619
1,831,380
-
1,831,380
1,560,000
271,380
1,831,380		 Group
2020
£
761
-
-
761
4,356
2,372,866
2,377,222
(26,598)
2,350,624
2,351,385
-
2,351,385
2,060,000
291,385
2,351,385		 Charity
2021
£
-
-
135,388
135,388
-
1,616,776
1,616,776
(11,848)
1,604,928
1,740,316
-
1,740,316
45,000
1,695,316
1,740,316		 Charity
2020
£
-
-
135,388
135,388
-
2,164,789
2,164,789
(18,324)
2,146,465
2,281,853
-
2,281,853
45,000
2,236,853
2,281,853

The trustees have prepared group accounts in accordance with section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The charitable company has taken advantage of the exemption in section 408 of the Companies Act 2006 from disclosing its individual Statement of Financial Activities. The deficit for the charitable company for the year was £520,037 (2020: £14,985).

27/09/22

Approved and authorised for issue by the trustees on: ……………………………………

Amrit Kaur Trustee

The notes on pages 20 to 26 form part of these accounts.

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Statement of Cash Flows and Consolidated Statement of Cash Flows For the year ended 31 December 2021

Note
Cash provided by operating activities
18
Cash flows from investing activities
Proceeds from disposal of fixed assets
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the year		 Group
2021
£
(547,274)
-
(547,274)
2,372,866
1,825,592		 Group
2020
£
(6,204)
269
(5,935)
2,378,801
2,372,866		 Charity
2021
£
(548,013)
-
(548,013)
2,164,789
1,616,776		 Charity
2020
£
(14,035)
-
(14,035)
2,178,824
2,164,789

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Notes to the Financial Statements

For the year ended 31 December 2021

1 Statement of Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1 Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Mooji Foundation Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost of transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in sterling, which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest pound.

1.2 Going Concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. The trustees have considered the impact of the Covid-19 on the charitable company, which has had a significant impact on the physical events held by organisations it supports, such as Associaco - Monte Sahaja Asham (AMSA) in Portugal. However, there has not been a significant financial impact on the charitable company which continues to have a strong cash position and balance sheet. As a result the trustees believe that the charitable company will be able to continue its activities and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.

1.3 Group financial statements

The financial statements consolidate the results of the charity and its whole owned subsidiary Mooji Media Limited on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

1.4 Income

All income in the Statement of Financial Activities is shown gross of the associated costs and is accounted for where there is entitlement to the income, it is probable that the benefits associated with it will flow to the charity and it can be reliably measured.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been allocated on the bases indicated below:

Expenditure on raising funds

Costs of raising funds comprises the costs associated with the trading subsidiary.

Expenditure on charitable activities

These costs include expenditure associated with the delivery of the objects of the charity and include both the direct costs, support costs and grant funding relating to these activities.

Other expenditure

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

All resources expended are inclusive of irrecoverable VAT which is charged as a cost against the activity for which the expenditure was incurred.

1.6 Intangible fixed assets Intangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount.

1.7 Tangible fixed assets

All assets acquired for continuing use by the charity are initially capitalised at cost and measured subsequently at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment

33% straight line

20

Mooji Foundation Ltd

Notes to the Financial Statements (continued) For the year ended 31 December 2021

1 Statement of Accounting Policies (continued)

1.8 Fixed asset investments Interests in subsidiaries, where donated, are initially measured at the fair value of the gifted investment and subsequently measured at deemed cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the Statement of Financial Activities.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. 1.10 Financial instruments Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently carried at amortised cost using the effective interest method.

1.11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

1.12 Foreign exchange Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting en date. Gains and losses arising on translation are included in the Statement of Financial Activities for the period. 1.13 Accumulated funds Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, though the trustees have directed that a reserve fund built up from general unrestricted funds, equal to six months' budgeted operating expenditure of the charity to meet the working capital requirements of the charity to enable the continuing of the current activities in the event of a significant drop in funding. The value of such a fund will vary with activity levels and at the year end the unrestricted designated reserve stands at the estimated requirement of £60,000. A specific designated fund of £500k was created as a contingency fund in the current climate. A specific designated fund of £1m also exists representing anticipated investment costs in future activities.

1.14 In kind funding/support The charity benefits from the services of many thousands of voluntary hours and unclaimed out-of-pocket expenses by a very large number of supporters. In addition companies, organisations and individuals have, in many cases, provided the use of facilities, equipment and premises for various activities and meetings without charge. The value of such gifts in kind have not been estimated and included in the statement of financial activities as we are unable to measure the value of these gifts.

2 Critical accounting estimates and areas of judgement

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

In the view of the trustees in applying the accounting policies adopted, no critical judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any critical estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

21

Mooji Foundation Ltd

Notes to the Financial Statements (continued) For the year ended 31 December 2021

3
Income from donations and legacies
Donations and gifts
4
Income from other trading activities
Media and product income
5
Resources Expended
Activities
undertaken
directly
£
Cost of media and product revenue
-
Expenditure on charitable activities
Retreats and intensives
-
Scholarships
-
-
Incoming resources for the year is stated after charging:
Depreciation
Auditor's remuneration:
Audit fees
Other services
6
Analysis of grants
Grants to institutions - AMSA
Grants to individuals
Concessions
Expenditure on raising funds (unrestricted)		 Unrestricted
Funds
£
45,118
45,118
Grant funding
of activities
£
-
650,040
-
650,040		 Restricted
Funds
£
-
-
Support
costs
£
59,267
19,249
-
78,516		 Total
2021
£
45,118
45,118
Unrestricted
funds
2021
£
163,294
163,294
Total
2021
£
59,267
669,289
-
728,556
2021
£
-
10,200
672
2021
£
598,966
2,981
48,093
650,040		 Unrestricted
Total
2020
£
462,995
462,995
Unrestricted
funds
2020
£
225,948
225,948
Total
2020
£
66,811
618,422
20,265
705,498
2020
£
458
14,820
3,900
2020
£
549,300
12,801
20,265
582,366

22

Mooji Foundation Ltd

Notes to the Financial Statements (continued) For the year ended 31 December 2021

7 Support costs

Basis of allocation
Travel and subsistence
Actual
Bank and Paypal charges
Actual
Company administration
Actual
Legal and professional
Actual
Staff costs
Time spent
Governance costs
Actual
Depreciation
Actual
Foreign exchange loss/(gain)
Actual		 Raising
funds
-
244
16,959
7,049
34,740
-
-
275
59,267		 Charitable
activities
-
1,790
1,583
6,187
(36)
10,200
-
(475)
19,249		 Total
2021
£
-
2,034
18,542
13,236
34,704
10,200
-
(200)
78,516		 Total
2020
£
394
8,753
22,484
23,099
49,135
14,820
457
3,990
123,132

8 Trustees and key management personnel

The trustees are considered to be the key management personnel of the group. No trustee received any remuneration nor were they reimbursed any expenses in the current or comparative year.

Amounts paid to the charity's patron Anthony Paul Moo Young are disclosed in note 17.

9 Employees

The average monthly number of employees during the year was:

Administration and support
Staff costs during the period were:
Wages and salaries
Social security costs
Pension contributions
Intangible Fixed Assets
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charged in year
At 31 December 2021
Net book values
At 31 December 2021
At 31 December 2020
There were no employees whose annual remuneration was £60,000 or more.		 2021
No.
2
2021
£
33,804
-
900
34,704
Group
£
761
-
761
-
-
-
761
761		 2020
No.
5
2020
£
48,055
180
900
49,135
Charity
£
-
-
-
-
-
-
-
-

10 Intangible Fixed Assets

23

Mooji Foundation Ltd

Notes to the Financial Statements (continued) For the year ended 31 December 2021

11
Tangible Fixed Assets
Cost
At 1 January 2021
Disposals
At 31 December 2021
Depreciation
At 1 January 2021
Charged in year
Depreication eliminated on disposal
At 31 December 2021
Net book values
At 31 December 2021
At 31 December 2020
12
Investments
Shares in group undertakings
Cost or valuation
At 1 January 2021 and at 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020		 Group
Fixtures,
fittings &
equipment
£
17,082
-
17,082
17,082
-
-
17,082
-
-
Charity
2021
£
135,388
135,388
135,388		 Charity
Fixtures,
fittings &
equipment
£
15,627
-
15,627
15,627
-
-
15,627
-
-
Charity
2020
£
135,388
135,388
135,388

The charity holds 100% of the share capital of Mooji Media Ltd, a company registered in England and Wales (registration number 07081024).

A summary of the results of the subsidiary is shown below:

Sales
Cost of sales
Gross profit
Administrative expenses
Trading profit
Interest income
Other income
Gift aid
Corporation tax
Retained profit/(loss) after tax		 Year to
31-Dec-21
£
163,294
-
163,294
(59,267)
104,027
5
(104,000)
-
32		 Year to
31-Dec-20
£
225,948
-
225,948
(66,811)
159,137
45
(160,283)
-
(1,101)

24

Mooji Foundation Ltd

Notes to the Financial Statements (continued) For the year ended 31 December 2021

13 Debtors

Debtors
Trade debtors
Prepayments and accrued income
Other debtors		 Group
2021
£
-
23,612
823
24,435		 Group
2020
£
190
3,264
902
4,356		 Charity
2021
£
-
-
-
-		 Charity
2020
£
-
-
-
-

14 Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year
Trade creditors
Taxation and social security
Other creditors
Accruals		 Group
2021
£
290
143
18,975
19,408		 Group
2020
£
-
328
707
25,563
26,598		 Charity
2021
£
-
-
(32)
11,880
11,848		 Charity
2020
£
-
36
532
17,756
18,324

15 Analysis of Net Assets between Funds

Fund balances at 31 December 2021 are represented by:

Unrestricted

Intangible fixed assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 General
Funds
£
761
-
290,027
(19,408)
271,380		 Designated
Funds
£
-
-
1,560,000
-
1,560,000		 Restricted
Funds
£
-
-
-
-
-		 Total
Funds
£
761
-
1,850,027
(19,408)
1,831,380

25

Mooji Foundation Ltd

Notes to the Financial Statements (continued) For the year ended 31 December 2021

15 Analysis of Net Assets between Funds (continued)

Analysis of Net Assets between Funds (continued)
Working capital fund
Contingency fund
Investment fund
Designated funds are as follows:		 2021
£
60,000
-
2,000,000
2,060,000		 Transfer
£
-
500,000
(1,000,000)
(500,000)		 2022
£
60,000
500,000
1,000,000
1,560,000

The working capital fund represents six months' budgeted operating expenditure to meet the working capital requirements of the charity to enable to continuing of the current activities in the event of a significant drop in funding.

16 Members' Liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

17 Related Party Transactions

Associaco - Monte Sahaja Asham (AMSA)

Mooji Foundation commits to supporting AMSA financially and in other aspects of running the charity. It aims to work jointly at achieving the common aim of 'The promotion of moral and spiritual welfare for the public benefit'. One of the charity's trustees Rhonda Lee Johnson was also part of AMSA's board of directors (until December 2019) but refrained from voting on the matters relating to grant approval.

Grants are approved subject to specific grant proposals. Arrangements are dependent on AMSA's needs and Mooji Foundation's financial position. Grants were paid as per Note 6.

Other expenditure incurred from AMSA totalled £3,851 (2020: £nil). Income from AMSA amounted to £120,043 (2020: £179,716).

At the year end an amount of £nil (2020: £nil) was due to the group from AMSA included within trade debtors.

During the year Mooji Media Limited paid £104,000 (2020: £160,283) in the form of gift aid to Mooji Foundation Limited.

Patron

Anthony Paul Moo Young, the charity's patron, is employed by the subsidiary. Total costs for his employment amounted to £30,000 (2020: £30,002) included within salaries and wages.

18 Reconciliation of Net Income to Net Cash Inflow from Operating Activities

Net movement in funds
Depreciation (note 11)
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash provided by operating activities		 Group
2021
£
(520,005)
-
(20,079)
(7,190)
(547,274)		 Group
2020
£
(16,086)
458
13,345
(3,921)
(6,204)		 Charity
2021
£
(541,537)
-
-
(6,476)
(548,013)		 Charity
2020
£
(25,268)
190
10,670
373
(14,035)

26