REGISTERED CHARITY NUMBER: 1163554 (England and Wales) REGISTERED CHARITY NUMBER: SC050703 Iscotlandl Report of the Trustees and Audhed Fln•nclal Statements lor th• Year Ended 31 December 2024 for SCIENCE OF THE SOUL BRITISH ISLES Jassal and Company Chartered Accountants and Registered Auditors Unil 2 Halherton Court 21 Hatherton Street Walsall West Midlands WS4 2LA SCIENCE OF THE SOUL BRITISH ISLES Contents of the Flnanclal Statements for the Year Ended 31 December 2024 Page Report of the Tru$tfrfr8 1 to 7 Report of tho Indepondent Audltorn 8 to 10 Statement of Flnanclal Acllvltles 11 Balance Shoet 12 Cash Flow Statement 13 Notes to the Cash Flow Statement 14 Note8 to the Flnan¢lal Statoments 15 to 22 SCIENCE OF THE SOUL BRITISH ISLES Report of the Trustees for tho Y¢ar Ended 31 December 2024 The Trustees submit their annual report for the year ended 31 December 2024. The financial stslemenls have been prepared in accordance with the accounting policies set out in note 1 10 the financial slatements and comply with the Charity's Conslituhon, the charib.es Act 2011, the Charities and Trustee Investment (Scotland) Ael 2005, the Charities Accounts (Scotlandl Regulations 2006 las amended), the Slalemenl of Recommended Practice Accounting and Reporting by Charities.. SORP 2019 applicable to charities preparing their a¢¢ounts in accordance with FRS 102 leffecb.ve 1 January 20191 OBJECTIVES AND ACTIVITIES Objectives and alms The objectives and aims of the Charity are detailed in the Constitution and Include Ihe following.. l. For the public benefit. in Ihe Brili$h Isles and member ststes of the European Union, to advan¢e the knowledge and education lo the general public of the lenels. beliefs and practlC8s of Sant Mat by regular spiritual dis¢our5es and distributing religious and spiritual literature. 2. To edu¢ale the Plsblic in the importance of the common shared values of all religions regardless of their cultural, regional or national distinctions in order lo promote mutual understsnding and respect be￿een all faiths and religions. 3. To promote knowledge. mutual understsnding and respect be￿een peoples of different faiths by a study of the core values and principles of their different faiths. 4. For the public benefit. in any part of the world. to provide for the relief of financial need and suffering among victims of natural or other forms of disaster by proV￿1n9 finance, medical a￿, materials, human resources or by any other means deemed suitable. These objectives and aims of the Chanty are also recorded on the register held by the Office of the Scottish Charity Regulator IOSCRI. Slgnlfl¢¥nt actlvltle8 The Charity held meetings al all of ils cenlres dunng the year. Aclivity al the Charity's headquarters at Haynes Park. Bedfordshire and al local cenlres ¢onlinued allowing volunteers lo attend lo carry out essential governance. financ￿1 and adminislrats.ve tasks. The administrative structure of each centre has been maintained, headed by a centre secretsry appointed by the Trustees. The centre secretary is supported by a team of volunteers. Including a treasurer and internal auditor as well as volunteers lo assist with the adminislralion and organisation of the weekly discourses. The Board of Trustees continued lo hold meetings every months Additional online meetings were held when important de¢isions needed lo be tsken. The Charity's Planning and Finance Committees also continued lo hold more frequent meetings as needs afose. The many operational and financial aspects of the Charity's affairs were discussed al these meetings and plans for the future agreed. The Charity has a range of policy's and procedures lo ensure ils activities are compliant with laws and regulations and guidance issued by the Charity Commission. The areas of ¢onsideration include, goverrlance, operations, finances and the environment. 11 is the Charity's policy to establish appropriate controls to manage the heahh and safety nsk5 arising from its aclivilies, lo consult with all involved in health and safety matters, lo provide information and appropriate training and to enSLtre that safe and healthy working conditions are maintained. The Board of Trustees arranged for the health and safety offI￿r lo continue with a review of all centres health and safety procedures lo ensure any risks that were identified and any recommend81ions ft)r improvement were implemented. This is supported by a system of training and strict supervision lo ensure that the Charity's procedures are followed and improved as and when necessary. Page 1 SCIENCE OF THE SOUL BRITISH ISLES Report ol the Trustees for the Year Ended 31 December 2024 OBJECTIVES AND ACTIVITIES (cont.) The Trustees reviewed the financial performance and position of the Charity at Board meetings held during the year. The Trustees constdered how to mil￿¥te the Charity's operat￿nal costs that have increased due lo inflation, in particular energy costs and repairs and maintenance. Public benefit The Trustees are aware of the Charity Commission's guidance on publi¢ benefit reporting as set out in Section 17 of the Charities Act 2011 and Section 7 of the Charities and Trustees Investment Iscollandl Act 2005. The Trustees believe that their objectives and activities of promob'ng the 5pinlual and moral advan¢emenl of humanity are for the general benefit of the public. ACHIEVEMENT AND PERFORMANCE Charitable actlvltles The Charity hekl a series of one day events in August 2024 at Haynes Park in Bedfordshire, where spiritual discotjrses were delivered to the public. The Charity continued to hold spiritual meetings al each of rts ￿lOnal centres on a Sunday and al some cenlres on Wednesday evenings. 8ook$, audio and visual matenals and photographs about spirituality and the philosophy of Sant Mat were made available at each of the regional ¢entres. The Charity does not engage in any fomial advertising and depends entirely on unsolicited donations. Our related organisalion in India continued lo broadcast queSt￿n and answer sessions and other spiritual messages through its official website available to the general public Wofldwide. Fundraising activStle8 In line with ils policy the Charity did not undertake any formal fundraising activrties in the year. All funds received were voluntary donalions given by the public at their own dis¢relK*n. FINANCIAL REVIEW Prin¢lpal funding sources Donors continued lo support the Charty with generous financial support that has enabled the Charity to achieve its charitable activities. Income generated from voluntsry donations was £2.621,44812023.' £2.701.388) including tax ￿fvnded by HM Revenue and Custom$ under the Gift Aid scheme. Information and Education expenses of £2,435,72012023.' £2,457.5931 were expended on charitable activities during the period. The excess of income over expendrture was £13,79712023.' £6.9881. The nel assets included debtor5 of £700.50812023'. £775,989) and the balance al bank of £114,09012023. £116,766). Accumulated general fvnds were £928.018 12023.. £914,221) all of which were unrestricted in line with the Charity's reserves policy. Page 2 SCIENCE OF THE SOUL BRITISH ISLES Report of the Trustees foi the Year Ended 31 December 2024 Reser4es policy The Charity's policy regarding reseryes is lo ensure, as far as is possible. that it retains a portion of income to transfer to reserve5 while ensunng that Ils charitable objectives are achieved. At the end of the yea¥ the Charity was able to retain all of its net income for the year ended 31 December 2024. The Trustees consider this level of reserves sufficient lo ensure that the Chanty will remain self-sustsining into the foreseeable future and lo rneel any unforeseen evenlualilies. The Charity will continue to operate as far as possible within its own means and does not loresee any need lo raise extemal fvnds over and above ils voluntary donations in order lo carry out ils actNits"es in pursuit of its charitable objectives. The Charity's policy will continue lo be to hdd general reserves and not to restrict them in any way. Golng concern Al the time of approving the finan¢ial stalemenls. the Trustees have a reasonable expe¢talion that the Charity has adequate resources lo continue in operational existence for the foreseeable future. The validity of this assumption is on the basis that the Charity will continue to be supported by ils donors and the management of the Charity's reserves policy. Thus the Trustee5 continue lo adopl the going concem basis of accounting in prepanng the financial statemenls. FUTURE PLANS The Charity has arranged for weekty discourses on the phik)sophy of Sant Mat to ¢ontinue to be gNen al each of ils regional cenlres situated in the United Kingdom and Ireland. The weekly discourses are open lo the public. free ol charge and held on a Sunday and additsonally al some of the larger centres on a Wednesday. The Charity is planning lo hold a series of orbe day events al Haynes Park in August 2025 over a three- week period where members of the publ￿ from different regions of the UK can attend. The Trustees continued with preparing and distributing a quarterty newsletter containing a spiritual message and information about the Charity's aelivilies lo the publ￿. wrthout any charge. The Charity is developing a project lo convert the text in books on the philosophy of Sanl Mat into audio fofmal, in particular lo assist members of the public with special needs. The Trustees will continue to make books. aud￿ and visual matenals and photographs about Splfltuality and the philosophy of Sant Mat available lo the public at cost. The Truslees plan to hold six board meetings during next year to dixus$ the operal¢onal and financial aspecls of the Charity's management. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeurnent The Charity is govemed by ils Constitution and was incorporated as a CIO foundation by the Charity Commission fof England and Wales on 14 September 2015. The Charity was incorporated under the name "Science of the Soul,. which was changed to -science of the Soul British Isles" on 10 September 2016. The Charity was registered by the Scottish Charity Regulator IOSCR) on 20 January 2021. Page 3 SCIENCE OF THE SOUL BRITISH ISLES Report of the Trustees for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT IconL) Recrultment and appointment of new trustees The Constitution set5 out the establishment of the Board of Trustees consisting of a minimum of ftve Trustees. The Spiritual Representatives of the Patron are ex-officio Trustees of the Board. the Chairperson is appointed fof a term of three years renewable from time to time subject lo resolution of the Board of Trustees. Other Trustees hold office for a term of three year5 by resolution of the Board of Trustees. At the end of their firsl term Trustees may be reappointed for a fvrther term of no more than three years by resolution of the Board of Trustees. Thereaftei, Trustees, other than the Chairperson, who have served for tsvo consecutive terms shall not be eligible for reappoinlmenl until the expiry of al least three years. Trustees are appointed by the Board of Twstees Candidates are proposed by members of the Board from among various office holders within the "sangaf {congregalionl who have served the sangal for some time. Selection is then confirmed by the Trustees at a general meeting of the Board of Trustees normally during the third quarter of the year before vacancies ¢￿ur. Oryanlsatlonal 8tructurn The Board of Trustees meets every tsvo months lo deal with the operational and financial developments of the Charity. Al the request of at least three Tnjslees, an additional meeting of the Board of Trustees can be held. All decisions are based on the majority of the Trustees attending and voting. The quorum for the Trustees is three or this can be redLtced lo if the Chaifman is present The Board of Trustees has established a Planning Commfftee IPC} which comprises Six members. The Planning Committee is responsible for the planning, organising and administration of the national meetings, al Haynes Park al which discourses on the philosophy of Sanl Mal are given. The PC is also responsible for proposing strategic initiatives such as simultsneous Iranslalion al these meetings and has the delegated authority for carrying out such proposals once they have been budgeted and approved by the Board of Trustees. The Board of Trustees has established a Health afttj Safety department IH&SI reporting to the Board of Trustees via the Planning Committee. H&S is responsible for ensuring that all the requirements for a healthy and safe environment is maintained wherever the Charity carries out its activities. The Board of Trustees has established a Financial Management Group IFMGI which comprises one Trustee supported by a team of volunteers with financial qualification and expenence. The FMG reports lo the Board of Tru51ees and is responsible for managing the financial affairs of the Charity. lo ensure that expenditures are kept within budget and lo ensure there is an effective system of inlemal control in place lo prevent and delecl fraud or any other irregularities if they were lo occur The FMG is responsible for keeping proper accounting records and prepares re9ular slalements about the financial posits'on of the Charity lo the Board of Trustees and lo stslulory authorities whenever required. The Board of Trustees has established an IT department, reporting to the PC, which is responsible for maintaining robust and effective inforMat￿n systems on behalf of the Charity. All of the Charity's Wofk and support is carried out by volunteers and no remunerats.on is paid. Induction and trainlng ol new trustees New Trustees undergo an orientation day lo brief them on their kgal obligations, the content of the Constitution, the decision-making process. the financial pertomiance of the Charity. the recent developrnenls and the future plans. During the orienlalion day the new Trustees receive the Trustees Resource Manual which contains information on the Charity's policies and procedures and meet other Trustees and key volunteers. Trustees are encouraged to attend external training events relevant lo developing their skills and lo gain experience relevant to their roles and responsibilities. Page 4 SCIENCE OF THE SOUL BRITISH ISLES Report of the Trustees for the Year Ended 31 Deeember 2024 Related partles The Trustees require all members of the Board of Trustees to declare any conflKts of interest particularty in respect of related parties and lo disclose any transactions that they or any related paty may be part of in respect of the Charity's aclivilies. Related parties are discbosed in note 15 to the financial statements. Risk management The Board ofTruslees have given consideration to the major risks to which the Charity is exposed and satisfied themselves that systems or procedures are established in order lo manage those nsks. The Board of Tfustees acknowledge their responsibility to manage risk asscKialed wrth the Chanty's activities and during the year have considered the major risks that may have a probable or highly probable likelihood of occurring. The areas of consideration included governance, opeialions. finances, environmental or exlemal factors and the Chanty's compliance with laws, regulation and guidance. The Board of Trustees identifies risk using vafiOUS processes including risk assessments that have been used lo conduct Health and Safety reviews. They have eslablished appropriale intemal controls such as the Internal Audit function that is used lo Identify financial and operational risk and condu¢ts"ng reviews of policies and procedures by spe¢ialisl volunteers to Klenlify Compliance nsk. During the year the Board of Trustees considered the risk associated with ¢onlracls, acquisition and development of new premises, maintenance and refufbishThnl programmes, loan finance and changes in compliance reporting associated with FRS 102 which were identified as the prin¢ipal risks and uncertainties lacing the Charity. The Board of Trustees considered the impact of the risks associated in these areas on the financial performance and position of the Charity. All ol the new and existing risks that have been identified and asse$sed using ils processes have associated risk management plans that have been designed lo minimise the occurrence of any impa¢l. The Board ol Trustees has Implemented control systems lo manage those risks. Page 5 SCIENCE OF THE SOUL BRITISH ISLES Report of the Trustees for the Year Ended 31 December 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1163554 (England and Wales) Règlstered Charlty number SC050703 IScolland11163554 Reglsterèd offlce Haynes Park Church End Haynes Bedford Bedfordshire MK45 38L Trustge8 Mr R French 08E DL Mr J Atsval Mr D Cameron Mr S Farar Mr W Harrison Mrs S Ghoman Audltorn Jassal and Company Chartered Accountsnts and Registered Auditors Unil 2 Halherton Court 21 Halherton Street Walsall Wesl Midlands WS4 2LA Sollcltors CL Law Solicitors 138 The Crossways Hounslow TW5 OJR Banker6 National Westminster Bank plc Aldgale Branch PO Box 10863 130 ￿ltechapel High Street London E1 7PY Page 6 SCIENCE OF THE SOUL BRITISH ISLES Report of the Trustees for the Year Ended 31 December 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are responsible for pieparing the Report of the Trustees and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financ￿1 Repotb"ng Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" The law applicable to charrties in England, Wales and Scolland requires the Trustees lo prepare financial stslemenls for each financial year which give a trne and fair view of the stale of affairs of the Chanty and of the incoming re50ur¢es and application of resources. ineluding the Income and expenditure. of the Charity for that year. In preparing Ih05e financial slalements. the TnJslees are required to.. select suitable accounting poltcies and then apply them ¢onsistenWy', - obseNe the methods and principles in the Charity SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject to any material departures dis¢losed and explained in the financial slalemenls. and prepare the financial statements on the going concem basis unless il is inappropriate to Presume that the Charity will continue in bLtsiness. The Trustees are responsible for keeping proper attountrng records which disclose with reasonable accuracy al any lime the financial position of the Charity and lo enable them to ensure that the fi'nancial statements comply with the Charities Act 2011 (England and Wales). Chanlies and Trustee Investment (Scollandl Act 2005, the Charity IAccounls and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safegijarding the assets ol the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulanties. The Trustees are responsible for the mainlenance and integrity of the Charity and financial information available publically. Legislation in the United Kin9dom goveming the preparation and dissemination of financial slalements may differ from legislation in other iurisdiclions. Science of the Soul British Isles is expected lo undertake all the activities and commitments ol the unincorporated Charity and the same Trustees will continue to be members of the boards of Trustees of both charities. In so far as the Tru$lee$ are aware.. there is no relevant audit information of which the Charity's auditors a￿ unaware,. and the Trustees have taken all slep5 that they ought lo have taken to make Ihem$elve5 aware of any relevant audit information and lo establish that the audilofs are aware of that information. AUDITORS The auditors, Jassal and Company were re-appointed under s. 144 of the Charities Act 2011 during the year and a proposal for their re-appointment will be made at the forthcoming Board meeting of the Trustees. Report of the Trustees, incorporating a Strateg￿ report, appfoved by order of the Board of Trustees. on and signed on its behalf by". Mr R French OBE DL- Trustee Page 7 Report of the Independent Auditorn to the Trustees of Science of the Soul British Isles Opinion We have audited the financial statements of Science of the Soul Br¢lish Isles (the 'charitsble incorporated orgaTrisation'l for the year ended 31 December 2024 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Cash Flow Stalernent and notes lo the financial stalemenls, including a summary of significant accounting policies. The financial reportin9 framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel, including Financial Reporting Standard 102 'The Financkal Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial stslements-. give a true and fair view of the slate of the charitable incorporated organisalion's affairs as at 31 December 2024 and of ils incoming iesources and application of resources, including rts income and expenditure, for the year then ended., have been properly prepared in a¢¢ofdance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'Th8 Financial Reporting Stsndard applicable in the UK and Republic of Ireland.; and have been prepared in accordance with the requirements of the Chaiilies Act 2011 and the Charibes and TrLtslee Investment (Scollandl Act 2005 and regulation 8 of the Charities Accounts (Scollandl Regulations 2006 las amended) Ba818 for oplnlon We conducted our audit in accordance with Inlernalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are fvrther described in the Auditors. responsibilities for the audit of the financial slalements se¢tion of our report. We are independent of the ¢haritable incorporated ofganisalion in accordan¢e wrth 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 fulfi'lled our other ethical responsibilities In accordance with these requiremen15. We believe that the audit evidence we have obtained is sufficient and appropnale to provide a basis for our opinion. Concluslons relating to golng concern In auditing the hnancial stalemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropnate. Based on the work we have perfomied. we have not idenlffied any material uncertainties relating to events or conditions that, individually or collectively. may cast S￿nifiCant doubl on the charitable incorporated organisalion's ability to eonlinue as a going concern for a Pen¢￿￿ of at least twelve rt￿)nths from when the financial statements are aulhorised for Issue. Ovr responsibilities and the responsibilities of the trustees with respect to going concem a￿ described in the relevant sections of this report. other Infomiatlon The Iruslees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Rep)rt of the Independent Auditors Ihereon. Our opinion on the financial slalemenls does not cover the other infomialion and, except to the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial ststemenls, our responsibility Is to read the other infom)ation and, in doing so, consider whether the other information is materially inconsistent with the financial stslemenls or our knowledge obtained in the audit or otherwise appears to be materially misslaled. 11 we identify such material inconsisleneies or apparenl material misstatements, we are required lo determine whether this gives rise to a material misslalemenl in the financial statements Ihemsefves. If. based on the work we have performed, we conclude th81 there is a material misslatement of this other information, we are required lo report that fact. We have nothing to report in this regard. Page 8 Report of the Independent Audito￿ to the Trustees of Science of the Soul British Isles Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the Charity and ils environment obtained in the course of the audit, we have not identified material misslalemenls in Ihe Annual Report We have nothing lo report in respect of the following matters in relation lo which the Charities A¢1 2011 and the Charits"es (Accounts and Reports) Regulations 2008 and Chafity Accounts IS¢oUandl Regulations 2006 las amended} requires us to report to you if, in or opinion.. - adequate accounting records have not been kept or returns adequate for audit have not been received from branches not visited by us., the financial statements are not in agreement with the aeeounting records and retums.. certain disclosures of Iruslees, remuneration specified by law are not made.. or - we have not obtained all the information and explanations necessary for the purposes of our audit. Rosponslbilities of trustees As explained more fvlly in the Slalement of Trustees. Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and ft)r such internal Control as the trustees determine is necessary lo enable the preparation of financial $talemenls that are free from material misstatement, whether due to fraud or efror. In preparing the financial slalemenls, the tnjslees are responsible for assessing the ¢haritable incorporated organisalion's ability to continue as a going concem, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable incorporated Ofganisalion or to cease operations. or have no realisli¢ altemative bul lo do so, Our respon8ibllltSes for Ihe aud•t of the financlal statemen18 We have been appointed as auditors under Se¢lion 144 of the Charities Act 2011 and Section 441lllcl of the Charities and Trustee Investment (Scollandl Act 2005 and report In a¢¢ordan¢e with the Acts and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial stslements as a whole are fr8e from material mi$slalement. whelhei due to fraud or error, and lo issue a Report of the Independent Auditors Ihal includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit ¢onducled in accordance with ISAS IUKI will always detect a material misstalemenl when it exists. Misslatemenls can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected lo influen¢e the economic decisions of users taken on the basis of these financial stslemenls. The exlenl to which our procedures are Capable of detecting irregular￿.e5, including fraud is detailed below.. Capablllty ol the audlt In detectlng irregulorities In identifying and assessing risk5 of material rnisstalernenl in respect of the irregularities, including traud and non-compliance wrth laws and regulations, our procedures included the following.. - We enquired of management. which included obtaining and reviewing supporting documentation con¢eming the Charity's policies and pro¢edures relating to.. a. Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance. b. Deleeling and responding lo the risks of fraud and whether they have knowledge or any actual, suspected or alleged fraud. - We obtained an understanding of the legal and regulatory framework that the Charity operates in. fo¢u55ing on those laws and regulations that have a material effect on the financial statements or that had 2 fvndamenlal effect on the operations of the Charity from our professional and sector experience. We reviewed the financial ststement dis¢losures and tested these lo supporting dccumentstion to assess ompliance with applicable laws and regulations. Page 9 Report of the Independent Auditors to the Trustees of Science of the Soul British Isles Capabllity of the audit In detecting irregularitles (conL) We performed analytical procedures to identify any unusual or unexpected relationships that may indi¢ale risks of material misstatement due lo fraud. In addressing the risk of fraud throijgh management override of control, we tested the appropriateness of journal entries and other adjuslrnenls. reviewed the iudgemenls that were made when making accounting estimates and assessed whether there could be a polenb.al for management bias We tested for transactions that May be considered unusual or oUts￿e the normal course of the Chanty's activits'es. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including those leading lo material misstatement in the financial statements or non•eompliance wiltt regulations. This risk increases the more that compliance with law or regulats.on is removed from the events and Iransa¢lion5 refleeled In the financial statements. as we will be le55 likely to become aware of the instances of non- compliance. The nsk is also greater regarding iffegularitses occurring due lo fraud rather than error, as fraud involves intentional concealment. forgery, collusKtrn, omission or misrepresentslion. A further de$¢riplion of our responsibilities for the audit of the financial statements is located on the Finan¢ial Reporting Coun¢il's website al ww.fr¢.org.ukJaudilorsfesponsibilrties. This description forms part of Ouf Report of the Independent Auditors. Use ofour report This report is made solely to the charitable incorporated organisalion's trustees, as a body, in accordance with Part 4 of the Charities IAccounls and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charitable incorporated organisalion's trustees those matters we are required lo slate lo them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charitable incorporated organisalion and the charitable incorporated or9anisation's Irustee5 as a body. for our audit woth. for this report. or for the opinions we have formed. Rajinder Jassal BAIHonsl FCA DC Senior Stalulory Auditor for and on behalf of Jassal and Company Chartered Accounlanls and Registered Auditors Unit 2 Halherton Court 21 Halherton Street Walsall Wesl Midlands WS4 2LA Dale.. /0 Page 10 SCIENCE OF THE SOUL BRITISH ISLES Staternent of Financial Activilies for the Year Ended 31 December 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2,621,448 2.701,388 Investment income 75.601 Total 2 697 049 2 776,562 EXPENDITURE ON Charitable actlvltle$ Other resources expensed Information and edu¢alion Management and administration Education media cost 186,375 2.435.720 2,850 201,616 2,457,593 2,474 107 891 Total 2.683.252 2,769 574 NET INCOME 13,797 6,988 RECONCILIATION OF FUNDS Total funds brought forward 914,221 907,233 TOTAL FUNDS CARRIED FORWARD 928,018 914 221 The statement of financial a¢tivilies includes all gains and losses recognised in the year. All income and expendilufe derives from conts'nuing aclNlties. Page 11 SCIENCE OF THE SOUL BRITISH ISLES Balance Sheet 31 December 2024 2024 unrestn.cted fvnd 2023 Total funds Notes FIXED ASSETS Tangible assets 11 295,643 325,314 CURRENT ASSETS Debtors Cash al bank and in hand 12 700.508 114090 775,989 116 766 814,598 892,755 CREDITORS Amounts falling due within one year 13 1182,223} 1303,8481 NET CURRENT ASSETS 632.375 588.907 TOTAL ASSETS LESS CURRENT LIABILITIES 928,018 914,221 NET ASSETS 928 018 914 221 FUN08 Un￿$tn¢ted funds 14 928,018 914 221 TOTAL FUNDS 928.018 914 221 The financial statements were approved by the Board of Trustees and authorised for issue on /0 . and were swned on its behalf by.. Mr R French OBE DL- Trustee The notes fomi part of these financial ststements Page 12 SCIENCE OF THE SOUL BRITISH ISLES Cash Flow Statement for the Year Ended 31 December 2024 2024 2023 Notes Cash flows from operating activiti08 Cash generated from operations 18,136 62.4841 Nel cash prOV￿ed byllused in) operating acts'vilies 18,136 62,4841 Cash flow8 from Investing activltles Purchase of tangible fixed assets Interest received 122,6611 1.849 188,795} 2,103 Nel cash used in investing activities 20.8121 86.6921 Change In cash and ¢ash equlvalents In the reportlng porlod Cash and Cash gquivalents at the b•gSnnlng of the reportlng peilod 12.6761 1149,1761 265,942 Cash and cash equlvalents at the •nd of the roportlng perlod 116766 The notes form part of these financial stslements Page 13 SCIENCE OF THE SOUL 8RITISH ISLES Notes to the Cash Flow Ststement for the Year Ended 31 Docember 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reportlng perlod (as per the Ststement of Financial Activities) Adjustments for: Depreciation charges Interest received Decreasellincreasel in debtors {Decfease}lin¢rea5e in creditors 13.797 6.988 52.332 {1,849) 75.481 121.625 55,666 12,1031 {136,0021 Not ¢88h provldod byllused In) operallons 18 136 62.484} ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 Cash flow Al 31.12.24 Net cash Cash al bank and in hand 116.766 2,678 114,090 114,090 Total 114.090 The notes form part of these financial statements Page 14 SCIENCE OF THE SOUL BRITISH ISLES Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the Ilnanclal statemènts The financial slalements of the Charity, which 1$ a public benefit entity under FRS 102, have been prepared in accordance with the Charilles SORP IFRS 1021 'Accounling and Repo￿.ng by Charities." Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Slandafd applicable In the UK and Repyblic of Ireland IFRS 1021 (effective 1 January 2019}'. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011IEngland and Wales) and the Charities and Trustee Investment (Scolland) Act 2005. The financial statements have been prepared under the histoncal cost convenlM?n. These financial slalemenls are prepared in Sterling. wtt￿h is the fvnctional currency of the Charity. Monetary amounts in these financial statements are rounded lo U)e nearest £. Incomlng rn8ources All income is recognised in the Slalement of Financial Activities once the Charity has entitlement lo the funds, it is probable that the income will be received and the amount can be measured reliably. Donations are accounted for in the period of receipt. No amounts are included in the financial statements for services donated by volunteers. No income Is fe¢ognised when there 15 no financial cost borne by a third party. Donated assetslfacililies afe included al the value lo the Charity where this can be quantified. All Incoming resources are included in the financial statements when the Charity is legally enlilled lo the income and the amount can be quantified with feasonable accuracy. Donations in cash afe recognised when the donation is received. Donations received under the Gift Aid schemes are re¢ognised when received. Investment income includes rental income and bank Interest. Rental income is re¢ogni$ed wtten it is receNable and bank interest is recognised when re￿ived. Resourcos expended Liabilities are recognised as expenditure as s¢)on as there is a legal orconslruclive obligation committing the Charity to that expenditure, it is probable thal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted lor on an accruals basis and has been classified under headings that aggregate all cost ielaled lo the category. Where costs cannot be directly attributed lo parti¢ular headings they have been allocated lo activities on a basis consistent wrth the use of resources. Costs associated with the chanlable aclivil*s have been incurred directly in support of the obiectives of the Chanty. Financlal instruments The Charity has elected lo appty the provisions of Se¢lion 11 'BaS￿ Financial Inslrumenls. and Section 12 '01hei Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balan¢e sheet when the Charity becomes paty to the conlraclual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financ￿1 statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention lo settle on a nel basis or lo realise the asset and setue the liability simultaneously. BasSc Ilnancial assets Basic financial assets. which include debtors and cash and bank balances, are initialty meaSu￿d al the transaction price including transacb.on costs and are subsequently carried at amortised ¢051 using the effective interest method unle55 the arrangement constilules a financing Iransaclion, where the transaction is measured al the present value of the future receipts discounted at a market rate of interest. Financial assets classffied as re¢eNable within one year are nol amortised. Page 15 continued... SCIENCE OF THE SOUL BRITISH ISLES Notes to the Financial Statements - continued for the Year Ended 31 Decem￿￿ 2024 ACCOUNTING POLICIES - continued Financial instruments Classification of financial liabilltles Financial liabilities and equity Instruments are cla55ifEd according lo the substance of the conlraclual arrangements entered into. An equity instrumenl Is any contract that evidences a residual interest in the assets of the Charity after dedueling all of its liabilibes. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors. and loans, are initially recognised al the transaction price unless the arTangement constitutes a financing transaction. where the debt instrument is measured al the present value of the future payments discounted at a market rate of inlerest. Financial liabilities classified as payable within one year are not amortised. Trade t￿dItOrS are obligations to pay for goods or seNi¢es that have been acquired in the ordinary Course of activities from suppliers. Amounts payable are ¢la$sified as ¢urrenl liabilities if payment is due within one year or less. If not. they are presented as non