Charity Registration No. 1171296
THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Mr S Adamson
Mrs K Kindersley
Mr D Mound
Mrs D Evans
Mr M McNeslry
Mrs B Lees
(Appointed 12 October 20231
CIO registered number
1171296
Principal address
158 Holland Park Avenue
London
W114UH
Indopondgnt gxamlngr
Ward Imlliams
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
KT13 8RN
Cazenove Capital
1 London Vvall Place
London
EC2Y SAU
Investment Advisors

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
CONTENTS
Page
Trustees. report
Independent examine¢s report
statement of financial activities
Balance sheet
Notes lo the financial ststemenls
8-18

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report and financial statements for the year ended 31 March 2024.
The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the
financial slalements and comply wth the Rules of the School, the Charities Act 2011 and "Accounting and
Reporting by Charities. Slalement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021"
(issued in October 20191.
Objectives and activities
The objects of the Charity as stsled in its Rules..
lal To advance religion for the public benefit in accordan￿ with the Holy Vedic Tradition as laught by Sri
Shankara.
Ibl To ￿lIeVe poverty in India by providing". grants, items and services lo individuals in need andlor charities, or
other organisations working lo prevent or relieve povety.
The policies adopted in ftIrtheran￿ of these objects are leaching and delivering meditation.
The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the
Charity should undertake.
The School's principal activities are..
holding meetings to share the experience of meditation with members of the public and lo inform them of
its benefits
running short courses to introduce people to meditation
leaching meditation lo interested persons and giving them practical guidance on a continuing basis
forming and supporting groups of those meditating to gain greater insight and self-discovery
advertising the activities of the sch¢)ol on a website, social media and poster displays
running retreats for members twice a year
offering practical sessions of working together to discover harmony in action.
The School is based in west London and has groups in various parts of the country. The School also provides
support for groups in Greece and Holland through visits and written material.
If surplus funds allow, donations are made each year to other charitable organisalions, particularly those
connected with the relief of poverty or with connections lo the Vedic tradition. The School has long supported the
Sri Ramakrishna Math in Tamil Nadhu, India, which runs schools, provides health care and works lo empower
women in rural India by tea¢hing them practical skills such as tailoring and typing. The School also donates lo
the Jyotirnidhi Nyasa Trust which supports the meditation tradition in India.
The School is run by ils members and everyone is encouraged lo tske part in the organisalion. Al are volunteers
apart from two office managers who job-share.

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and perforniance
After several years of change and innovation, some of il voluntary. some a response lo Covid, the financial year
2023-24 has been a quiet and steady one. The School's regular activities have settled down into a pattern
wilhoul the need for constant interrogation, and decisions made in recent years are so far proving appropriate or
at least workable.
Weekly group meetings of committed members have been held in person, online or a through a mixture of the
two, and attendance numbers have generally remained steady, with 110 people attending in the spring term of
2024. We have two new groups of people who have leamed meditation during the year. A daytime group was
established at 158 Holland Park Avenue for those for whom evening travel is difficult, and a regular if rather small
number of attenders has formed. This group Is open to all members on a drop-in basis. Meditation support
continues to be available for all members via individual guidance sessions.
Both group members and members who do not attend groups have enjoyed day-long retreats held in the
School's building in Holland Park, which are now held once every half term. They have been attended by
betwèen 20 and 50 people each. Two have been opened lo non-members who attend Open Door sessions or
meetings on meditation offered in Oxted by a School member.
A Christmas meeting in the School's building, consisting of joint medilalion, reflection and a social, has bècome a
regular feature of the calendar, with about 60 people attending this year. A slightly larger number attended an
online event open to all members of the School together wth the two associated Schools in Holland and Greece,
also in the run-up to Christmas. This meeting provides the opportLJnily lo meditsle together and listen to some
readings and music, attesting again to the continuing power of meeting remotely
as is also shown by daily
online meditab'on sessions, held in the morning, in the middle of the day and in the evening.
The main residenb'al retreat changed date from Easter to October and was held in Worth Abbey in West SLJssex,
while the retreat previously held in October in Stroud moved in dale to Easter and in venue to Nanpanlan, the
SPES premises near Loughborough. The change In dates was in order lo be able lo hold the main retreat in what
was hoped to be an ideal venue, whose availabilty was limited. The change in venue for the other retreat was
because of cost. This proved popular with members from the North of the UK because of greater proximity. Worth
was found in practice lo be in many ways an excellent venue, but elements of the accommodation were a
disadvantsge for some attenders. Trustees have found what they hope will prove a good solution to this for 2024.
Six introductory courses werè scheduled al 158 and one on-line course for those out of London, in fact most of
those who attended this course lived out of the country. One of the courses at 158 was cancelled for lack of
bookings, while the others attracted between three and 12 attenders each. Most of these went ahead lo lake up
the practice of meditation, tolalling 35 over the year. The cancelled Course was due to start in late July. being an
experiment to discover whether there was an interest in attending courses over the summer holiday. It has sin
been dropped from the schedule.
The year provided some respite from the extensive work on updating the house. The biggest job was rebuilding a
large section of the garden wall between 158 and 160 Holland Park Avenue. The parts that were leaning
sideways are now upright and secure, and a tree that was expected in due course lo cause damage has been
removed. Nevertheless, work on the house itself is far from over. Exploration showed that a substantial rewiring
was required. This was commissioned lo be carried out during the Easter break 2024 las was done and currently
remains lo be made good, pending agreement from Kensington and Chelsea council in line wth the listed
building slatusl. Followng this the office, hallway and stairs will be redecorated.
The building work puts a strain on the School's finances, but fortunately they are on a secure fooling, as
explained below. Material improvements benefit from the wisdom of previous Iruslees in setting aside funds for
building costs.

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
A couple of years hard work by kn School members came lo a conclusion al the end of the financial year, wffh
thè readiness for publication of Signposts. This is a collection of short lexls taken from all the material delivered
to groups over the years, organised by lopi¢ in alphabetical order. Many of the texts were delivèred by HH
Shanlananda Saraswali, bul other teachers quoted in the material are also included, and some lexls are taken
directly from the scripts written by the then principal or by other conlribulors of guidance. 11 is provided as a
resource for members seeking guidance on practical aspects of life and on the rich philosophical and spiritual
backgroLJnd to meditation. Signposts was launched on the members, pages of the School's website at the
beginning of the 2024 summer term.
How best to bring meditation and the School to the attention of the public has long been a concern of the
organisation. In recent times a consensus has developed that the best way of doing this is through Social media.
We have used Google, Fa￿bOOk and X (formerly Twillerl but, in order lo improve our presence on the most
popular channels, we hired the ServI￿S of a specialist company in 2022. 11 has succeeded in attracting a large
number of impressions and followers on both Instagram and TikTok, and has increased the number of visits to
our website. In addition it has provided useful information on the audience, which has proved lo be older than
expected lone third aged 35-44, the next largest group being 45-541, and a notable proportion of which is
overseas. We have also improved our own information gathering from members of the public allending the
School. However, the increase of interest in the School has not produced an increase in people learning to
meditate such as might have been expected. Acknowledging that there are no magic bullets, and that we are not
in the business of acquiring members for the sake of it, the year ended ￿rith trustees and Office Managers
considering how lo progress.
Trustees are grateful lo the two Office Managers for their own contributions of lime and ideas on these questions,
and on many others. We are especially grateful to them for continuing the work of the office during what has
been another year made difficult for them by health problems, both personal and family.
Finally, our biggest challenge is in providing for the future. As already stated, trustees are content with the
financial security of the organisation, and that this is as robust as one can reasonably wish it to be, short of the
unforeseen. A bigger problem Is the ageing profile of the many volunteers who do the work of the School. As is
common in organisalions such as ours, only a small proportion of those who come lo us lo learn meditation want
to gel involved In the leaching and supporting of it, and of those who do, the p￿SSUre$ and competing claims of
modern life mean that they have difficulty in commilling the lime and energy that a largely voluntsry organisalion
needs. A lol of this work is therefore falling on a limited number of people that is itself dwindling because of the
effects of lime. The questions arising from this situation are expected to concern trustees and interested
members more over the next year and beyond.
Financial raview
Incoming resources were £151,911. ReSoUr￿S expended were £157,509 including depreciation of £30,877.
The School owns one propety in London, 158 Holland Park Avenue, which includes a flat that has been let
directly lo a lenanl since March 2018 and produced a rental income during 2023-24 of £18,610.
Our investments managed by Cazenove Capital performed in line ￿rith most markets in 2023, generating a
revaluation surplus of £53,919, which goes some way towards the recovery of the deficit suffered in the previous
year. Vve continued to wlhdraw £12,500 every quarter.
Advertising expenditure was £10,707 and is mainly focused on Social media. Indications are that this form of
advertising is effective at promoting interest in the School bul has resulted in few enrolments on the Inlroduclory
Course. Most new members are still recruited by personal recommendation and the notice board outside the
house. A review of better ways lo invest our advertising budget is currently in progress.
Other funds wère spent on wages, running the offi¢e, routine repairs and maintenance of the building,
professional fees and charitable donations. Detsils are given in the annual accounts.

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be
maintained al a level equivalent lo about twelve months, expenditure. The Trustees consider that reserves at this
level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's
current activities while consideration is given to ways in which additional funds may be raised.
The principal sources of income are the Charity's investments. donations re￿ived. enrolments and bequests and
legacies. Expenditure meets the objects in the Constitution by providing teaching facilities, education via the
website and administrative facilities to support the operations of the Charity.
The trustees regulady assess the major risks lo which the Charity is exposed and are satisfied that appropriate
systems are in place to mitigate exposure at this time.
strU￿Ure. govgmance and management
The School of Medilatlon l.the School I was registered as a Charitable Incorporated Organisatlon on 25 January
2017. Assets were transferred into the charity, following Charity Commission approval, from an unincorporated
charity called The Society of Spiritual Development which had been registered in 1985 having formerfy been a
Friendly Society called The Meditation Society. The School of Meditation started rts activities in 1961 and was
then incorporated in the Meditation Society. The Society changed ils name lo the School of Meditation al ils
Annual General Meeting in July 2015.
The governan￿ of the School resides with a Iruslee board of befftn five and eight members, while a number
of individuals are responsible for running different areas of the School's activities.
The trustees, who served during the year were..
Mr S Adamson
Mrs K Kindersley
Mr D Mound
Mrs D Evans
Mr M M¢Neslry
Mrs B Lees
(Appointed 12 October 20231
The trustees are nominated and appointed by vote of members of the Charity at the AGM of the Charity. Trustees
are elected for a thre&year term of office. None of the positions fell vacant during the year.
The School is overseen by the trustees, and separate activities are run by members appointed by the trustees.
The trustees, report was approved by the Board of Trustees.
Mr SAdarnson
Trustee
Dated: .........................

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE SCHOOL OF MEDITATION
I report lo the Iruslees on my examination of the finanaal statements of The School of Meditation Ilhe Charity)
for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance
with the requirements of the Charities Act 2011 Ilhe 2011 Act).
I report in respect of my examination of the Charity's financial statements carried out under section 145 of the
2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under se¢tion 14515llbl of the 2011 Act.
Independent examlnerfs statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with
Accounting and Reporting by Charities preparing their accounts in accordance with the Finanaal Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and
Reporting by Charities". Statement of Recommended Practice Issued on 1 April 2005 which is referred lo In the
extant regulations bul has now been withdrawn.
l understsnd that this has been done in order for financial statements lo provide a true and fair view in
accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1
January 2015.
I have completed my examination. I confirm that no matters have come to my attention in wnnection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or
the financial slalements do not accord with those records., or
the financial statements do not comply with the applicable requirements concerning the form and conlenl
of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a true and fair view which is not a rnatter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order lo enable a proper understanding of the financial slalements lo
be reached.
C. Hamilton ACCA
Ward Imlliams
Bay Lodge
36 Harefield Road
Uxbridge
Middlesex, UB8 1 PH
Dated..

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Endowment
fund$
funds
designated
Total
2024
Total
2023
Notes
Income from:
Donations and legacies
Charitable activities
other trading activities
Investments
33,145
28,888
1,439
88,439
33,145
28,888
1,439
88,439
29,562
20,680
254
75,239
Total income
151,911
151,911
125,735
Ex
enditure on:
Raisin
funds
Fundraising and publicity
Trading costs
Investment management
10,707
77
3,688
10,707
77
3,688
8.301
1,098
3,839
14,472
14,472
13,238
Charitable activities
113,037
30,000
143,037
118,281
Total resources expended
127,509
30,000
157,509
131,519
Net gainslllossesl on investments
12
53,919
53,919
1125,9561
Net incominglloutgoingi resources
78,321
130,0001
48,321
1131,7401
Other recognised gains and losses
Revaluation of tangible fixed assets
30,000
30,000
138,4081
Net movement in funds
78,321
78,321
1170,1481
Fund balances as al 1 April 2023
339,807
5,188,316
5,528,123 5,698,271
Fund balances at 31 March 2024
418,128
5,188,316
5,608,444 5,528,123
The ststemenl of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing aclivilies.

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Flxed assets
Tangible assets
Investments
3,751,953
1,570,410
3,752,830
1,509,163
14
5,322,363
5,261,993
Current assets
Stocks
Debtors
Cash at bank and in hand
16
17
443
7,948
300,675
443
12,461
274,184
309.066
287,088
Creditors: amounts falling due within
one year
18
124,9851
120,9581
Net current assets
284,081
266,130
Total assets less current liabilities
5,606,444
5,528,123
Income funds
Desi
naled funds
General fund
Revaluation reserve
84.803
5,103,513
84,803
5,103,513
20
5,188,316
5,188,316
Unrestricted funds
418,128
339,807
5,606,444
5,528,123
The financial statements were approved by the Trustees on .
Mr S Adamson
Trustee
Mr D Mound
Trustee

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity inforniation
The School of Meditation I'lhe School") was registered as a charitable incorporated company ICIOI on 25
January 2017. On 6 April 2017 assets were transferred, following approval from the charty commission, from
an unincorporated charity called The Society of Spiritual Development which had been registered in 1985
having formerly been a Friendly Society called The Meditation Society. The School of Meditation started its
activities in 1961 and was incorporated in Ihe Meditation Society. INhen the Society for Spiritual Development
registered as a charity in 1985, the School Df Meditation was transferred lo the Charity. The Society changed
its name lo the School of Meditation al ils Annual General Meeting in July 2015. The unincorporated Charity's
registration number was 292171, with the new CIO having a chanty number of 1171296.
1.1 Accounting convention
The financial statements have been prepared in accordance w(th the Charity's governing document, the
Charities Act 2011 and Accounting and Reporting by Charities." Stslemenl of Recommended Practice
applicable to Charities preparing their acwunls in acwrdance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021. (issued in October 20191. The Charity is a Public
Benefit Entity as defined by FRS 102.
The Charity has tsken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to prepare a Statement of Gash Flows.
The financial statements are prepared in sterfing, which is the functional currency of the Charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention, modified lo include the revaluation of
rtain fixed assets, investment properties and certain financial instruments al fair value. The principal
accounting policies adopted are sel out below.
1.2 Going concern
Al the lime of approving the financial slatemenls, the trustees have a reasonable expectation that the Charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
ntinue to adopt the going concern basis of accounting in preparing the financial ststemenls.
1.3 Charitable funds
Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable
objectives unless the funds have been designated for other purposes.
Designated funds comprise of funds which have been sel aside al the discretion of the trustees for speafic
purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
1.4 Incoming resources
Income is recognised when the Charity is legally entitled to it after any performance conditions have been
met, the amounts can be measured reliably, and it is probable that income will be re￿ived.
Rental Income and bank interest Is recognised when receivable.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relaty'on to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation.
Legacies are recognised when they can be measured and their receipt is reasonably certain. For pecuniary
legacies this is on receipt of notification from the executor, for residuary legacies this is usually when the
amount can be predicted wrth reasonable ￿rtaInlY.

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
Icontlnuedl
1.5 Resources expended
Liabilities are recognised when either a constructive or legal obligation to transfer reSoUr￿S exists.
Costs of raising funds are those expenses related lo the generation of voluntary, fundraising or investment
income.
Expenditure relating to charitsble activities includes expenditure directly attributable to the delivery of
charitsble activities.
Other costs Indudes Independent examinab.on fees, preparation of the ststutory accounts, costs of Iruslee
meetings, legal advi￿ given lo the tiuslees and any other costs directly relating to charity govemance.
Support costs comprise mainly the administrative costs and property costs relating lo the functioning assets
Imainly 158 Holland Park Avenue).
1.8 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, nel of
depreciation and any impaimient losses.
Depreaalion is recognised so as lo write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Freehold land and buildings
Fixtures and fittings
2 % straight line on buildings, OOA on18nd
250A straight line
The gain or loss arising on the disposal of an asset is determined as the differen￿ befvleen the sale
proceeds and the carrying value of the asset, and is recognised in nel incomellexpendilure} for the year.
Revaluation gains and losses are recognised in other recognised gains and losses and accumulated in equity,
except lo the extent that a revaluation gain reverses a revaluation loss prèviously recognised in nel incomel
lexpendilurel or a revaluation loss exceeds the accumulated revaluation gains recognised in equity., such
gains and loss are recognised in net in¢omellexpendilurel for the year.
1.7 Fixed asset investments
Fixed asset investments are initially meaSU￿d at transaction price excluding transaction costs, and are
subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
Al each reporting end dale, the Charity reviews the carrying amounts of ils tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss lif any).

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
Icontlnuedl
Recoverable amount is the higher of fair value less costs lo sell and value in use. In assessing value in use,
the estimated future cash flows are discounted lo their present value using a pre-tax discount rate that reflects
current market assessments of the b'me value of money and the risks speafic to the asset for which the
estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset is estimated to be less than ils carrying amount, the carrying amount of
the asset is reduced to ils recoverable amount. An impairment loss is recognised immediately in incomel
lexpendilure for the year, unless the relevant asset is carried al a revalued amount, in which case the
impaimient loss is Irealed as a ￿valUation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ￿8$ed
to apply. Where an impairment loss subsequently reverses, the carying amount of the asset is increased to
the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed
the carrying amount that would have been determined had no impairment loss been recognised for the asset
in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset Is carried
in al a revalued amount, in which case the reversal of the impairment 105S IS treated as a revaluation
increase.
1.9 Stocks
Stocks are slated at the lower of cost and nel realisable value.
Nel realisable value is the eslimaled selling price less all eslimaled eosls of completion and costs to be
incurred in marketing. selling and distribution.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks. other $hort-temi liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.11 Flnancial instrumen1$
The Charity has elected to apply the provisions of Section 11 'Basic Financial Inslrurnenls, and Section 12
'Olher Financial Instruments Issues, of FRS 102 to all of ils finanual Inslrumenls.
Financial instruments are recognised when the Charity becomes paty lo the conlraclual provisions of the
inslrumenl.
Financial assets are offset, with the net amounts presented in the accounts when there is a legally
enforceable right to set off the recognised amounts and there is an intention to settle on a nel basis or to
realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the
effective interest method unless the arrangement constilules a financing transaction, where the transaction is
measured at the present value of the future re￿ip1S discounted at a market rale of interest. Financial assets
classified as receivable within one year are not amortised.
10-

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
Icontlnuedl
Basic financial liabilities
Basic finanaal liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured al the present
value of the future payments discounted at a market rale of interest. Financial Iiabililies dassilied as payable
thin one year are not amortised.
Debt instruments are subsequently carried al amortised cost, using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequenuy measured al amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are dèrecogni5ed when the Charty's contractual obligations expire or are discharged or
cancelled.
1.12 Employee benefits
The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are
received.
Temiination benefits are recognised immediately as an expense when the Charity is demonstrably committed
lo lerminale the employment of an employee or to provide termination benefits.
1.13 Retirement benefits
The charty oper8te5 8 defined contributions pension scheme. Contributions are charged in the accounts as
they become payable in accordance with the rules of the scheme.
Donations and legacies
2024
2023
Donations and grfts
33,145
29,562
Donations and gifts
Other donations
Gift aid donations
Gift aid lax
2,535
24,360
6,250
4,141
19.764
5,657
33,145
29,562

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activitie5
2024
2023
SOM inilialions
SES inilialions
Enrolmenls
Retreat Ideficilllsurplus
9,470
12.272
6,759
387
8,489
7,525
5,735
11,0691
28,888
20,680
Other trading activities
2024
2023
Other trading activities
1,439
254
Invostments
2024
2023
Rental income receivable- 158 Holland Park Ave
Investment fund dividendrtrusl income
Interest receivable
18,610
61,016
8,813
15,609
55,365
4,265
88,439
75,239
12-

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Raising funds
2024
2023
Fundraisin
Advertising
and ublici
10.707
8,301
Tradin
sts
Other trading activities
77
1,098
Investment mana
emenl
3,688
3,839
14,472
13,238
Charltable a￿1vItIeS
2024
2023
Stsff costs
Depreciation and impaimienl
Other costs- Activities undertaken directly
Other costs- Support costs (see note 91
51.873
30,877
2,216
53,071
45.907
31,010
1,189
35,175
138.037
113,281
Grant funding of activities (see note 81
5,000
5,000
143,037
118,281
Grants payable
2024
2023
Grants lo institutions..
Sri Ramakrishna Math
Jyolimidhi Nyasa Ttusl
2,000
3,000
2,000
3,000
5,000
5,000
13-

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support Govemance
costs
costs
2024
2023 Basls of
allo¢atlon
Propety Maintenan￿ and running
costs
Adminislralive expenses
Support
36,227
13,244
36,227
13,244
20,800
10,774 Support
Independent Examiners Fees
3,800
3,600
3,600 Governanee
49,471
3,600
53,071
35,174
Governance costs includes payments of £3,600 12023.. £3,600) for an independent
examination and accounts preparation.
Adminislralive expenses includes payments of £84212023.. £7561 paid to the independent
examiners for accounting system support and review.
10 Trustoes
None of the trustees lor any persons connected with them) received any remuneration or benefits from the
Charty during the year.
11 Employees
Numberofemployees
The average monthly number employees during the year was..
2024
Number
2023
Number
Adminislralive
Employment costs
2024
2023
INages and salaries
Other pension costs
49,751
2,122
44,003
1,904
51,873
45,907
There were no employees whose annual Temuneralion was £60,000 or more.
14-

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
12 Net gainslllossesl on investments
2024
2023
Revaluation of investments
53.919
1125.9561
13 Tangible fixed assets
Freehold land Fixtures and
and buildings
fittings
Total
Cost
Al 1 April 2023
3,750,000
24,829
3,774,829
Al 31 March 2024
3,750,000
24,829
3,774,829
Depreclatlon and Impalment
Al 1 April 2023
Depreaation charged in the year
Revaluation
21,999
877
21,999
30.877
130,0001
30,000
130,0001
At 31 March 2024
22,878
22,876
Carrylng amount
At 31 March 2024
3,750,000
1,953
3,751,953
At 31 March 2023
3,750,000
2,830
3,752,830
Land and Buildings are included al their estimated market value of £3.750.000. The fair value of the Land and
Buildings has been arrived al on the basis of information provided in May 2023 by Carter Jonas LLP, who are
not conne¢ted with the charity. The valuation made by the Trustees based on this infomiation is on an open
market value basis by reference to market evidence of transaction prI￿S for similar propetties.
15-

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
14 Fixed asset investments
Cazenove
Investment
Fund
Cost or valuatlon
At 1 April 2023
Additions
Valuation changes
Disposals
1,509,163
61,016
53,919
153,6881
At 31 March 2024
1,570,410
Carrylng amount
At 31 March 2024
1,570,410
Al 31 March 2023
1,509,163
15 Financial instruments
2024
2023
Carrylng amount of flnanclal assots
Debt instruments measured al amortised cost
Equity instruments measured al cost less impaimient
1,373
1,570,410
2,994
1,509,163
Carrying amount of financial liabilities
Measured al amortised Cost
24.985
20,958
16 Stocks
2024
2023
Finished goods and goods for resale
443
443
Stock of £443 includes £401 regarding the publication of 'Being Oneself, and £42 regarding the publi¢alion of
'Reflections'.
17 Debtors
2024
2023
Amounts falllng due wlthln one year:
Income tsx reclaim via Gift Aid
Other debtors
Prepayments and accrued income
6,250
1,373
325
5,814
2,994
3,653
7,948
12,461
16-

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
18 Creditors: amounts falling due within one year
2024
2023
Other creditors
Accruals and deferred income
1,284
23,701
2,436
18,522
24,985
20,958
19 Retirement bènefit schemes
Defined contribution schemes
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the Charity in an independently administered fund.
The charge to profil or loss in ￿SpeCt of defined contribution schemes was £2,12212023- £1,904).
20 Designated funds
The income funds of the charity indude the following designated funds which have been sel aside out of
unrestiicted funds by the Iruslees for specific putposes..
Movement in fund5
Incomlng Resources Revaluatlons, Balance at 31
resources
expended
galns and
March 2024
losses
Balance at 1
Aprll 2023
Functional Asset Propety Reserve
Propety Projects Fund
5,103,513
84,803
130,0001
30,000
5,103,513
84,803
5,188,316
130,0001
30,000
5,188,316
Functional Asset Propèty Reserve
The reserve reflects the value of functional assets. The value is designated by the Iruslees lo reflect the
commitment of the charity's reserves reflected principally by 158 Holland Park Avenue as well as assets held
to generate income.
Propety Projects Fund
This reserve reflects bequests made to the charity which the trustees have decided lo set aside for future
property projects.
17-

THE SCHOOL OF MEDITATION
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
21 Analysis of net assets between funds
Unrestrlctod Deslgnated
funds
funds
Totsl
Fund balances al 31 March 2024 are represented by..
Tangible assets
Investments
Current assetsllliabililiesl
1138,2871
357,137
199,278
3,890,240
1,213,273
84,803
3,751,953
1,570,410
284,081
418,128
5,188,316
5,606,444
22 Related party transactions
There were no disclosable related paty transactions during the year.
The remuneration lo key management personnel, who are considered lo be the Trustees of the charity was
£nil12023.. £nill.
23 Controlling party
The charity is controlled by the trustees.
18-