**REGISTERED COMPANY NUMBER: CE011679 (England and Wales) REGISTERED CHARITY NUMBER: 1175672**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 September 2024
for
Vipassana Trust (Dhamma Sukhakari)
R J Francis & Co Suites 1 & 2 Marshall Business Centre Faraday Road Hereford Herefordshire HR4 9NS
Vipassana Trust (Dhamma Sukhakari)
Contents of the Financial Statements for the Year Ended 30 September 2024
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6 to 7|
|Notes to the Financial Statements|8 to 13|
|Detailed Statement of Financial Activities|14 to 15|
Vipassana Trust (Dhamma Sukhakari)
Report of the Trustees for the Year Ended 30 September 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **AIMS AND CHARITABLE PURPOSES**
The Vipassana Trust (Dhamma Sukhakari) exists to advance human happiness through the teaching of Vipassana meditation as taught by S N Goenka in the tradition of Sayagyi U Ba Khin.
## **ACTIVITIES - MEETING OUR CHARITABLE PURPOSES**
During the period under review the Trust ran residential Vipassana meditation courses at its site in Haughley Green, Suffolk. The number of full-time adult participants (and number of courses) this year are summarised below:
|Course type|2023/24|2022/23|
|---|---|---|
|10-day|1,541|1,449|
||(21)|(19)|
|3-day|219|415|
||(3)|(6)|
|Young people's|63|59|
||(3)|(4)|
10-day courses are the standard introduction to the technique for adult students; 'old' students, that is those who have already completed a course in this tradition, may participate in these courses as well as in others that are shorter or longer.
A Vipassana course is a rewarding but often demanding experience. The Trust has a thorough application process to ensure that applicants understand the nature of what they are undertaking and have a good chance of benefiting from their commitment of time and effort.
## **ORGANISATION**
Management of the Trust's affairs is by a Board of Trustees supported by a number of committees which look after various aspects of managing the centre. All trustees are old students who have generally sat a number of courses, served on committees and have been involved in the running of the Centre. They are appointed by the Centre Teacher to serve until the next annual general meeting. The charity is a CIO controlled by its Governing constitution, which is registered with the Charity Commission.
No charges are made for attending courses and donations are accepted only from students who have successfully completed a 10-day course. It is made clear to all participants that these donations are not payment for the teaching and accommodation that they have received, but contributions towards the costs of providing courses in the future for others to attend. The donations are called 'dana' (a Pali word). Donations given at the end of a course are the main source of funding for the Trust, which also receives donations from old students by way of monthly standing orders and one-off donations. The organisation is further assisted in its work by student loans of varying amounts and duration.
Teaching and serving (working) on courses is always done on a voluntary basis. The day to day running of the centre is done by volunteers.
## **FUTURE STRATEGY**
The Trust intends to increase the capacity of the student accommodation and other facilities on the site to enable more students to learn and then practise Vipassana meditation. Demand for courses is high and there is a waiting list on every course.
Page 1
Vipassana Trust (Dhamma Sukhakari)
Report of the Trustees for the Year Ended 30 September 2024
## **OBJECTIVES AND ACTIVITIES**
## **FINANCIAL STATEMENT**
The incoming resources for the year amounted to £464k (2023 £399k) and costs £322k (2023 £306k) leaving a surplus of £142k (2023: £93k) giving a reserve balance of £1,419k (2023 £1,277k).
## **RESERVES POLICY**
The Trustees operate a policy of investing most of its liquid funds in improving the facilities on the site while ensuring that it has sufficient funds to meet the anticipated running costs of the organisation.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, and is a CIO (Charitable Incorporated Organisation).
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE011679 (England and Wales)
## **Registered Charity number**
1175672
## **Registered office**
Walnut Tree Manor Haughley Green Haughley Stowmarket IP14 3RQ
## **Trustees**
M K Sethumadhavan - Chair (resigned 30.11.24) M S Bhagwat - Treasurer G Ma - Secretary (resigned 30.11.24) A A Reveley V Prakash (resigned 30.11.24) G C S Sawyer U M Maheswari A Forbes (resigned 5.7.24) M Sethi A Gandhi - Chair (appointed 30.11.24 H Bhundia (resigned 30.11.23) M Phillips N Yamaguchi S Patel (resigned 30.11.23) M Bobdey (appointed 30.11.24) K Pourmirzaeh (appointed 30.11.24)
## **Independent Examiner**
A A Houston FCA R J Francis & Co Suites 1 & 2 Marshall Business Centre Faraday Road Hereford Herefordshire HR4 9NS
Page 2
Vipassana Trust (Dhamma Sukhakari)
Report of the Trustees for the Year Ended 30 September 2024
Approved by order of the board of trustees on 7 July 2025 and signed on its behalf by:
M S Bhagwat - Trustee
Page 3
Independent Examiner's Report to the Trustees of Vipassana Trust (Dhamma Sukhakari)
## **Independent examiner's report to the trustees of Vipassana Trust (Dhamma Sukhakari) ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A A Houston FCA The Institute of Chartered Accountants in England and Wales
R J Francis & Co Suites 1 & 2 Marshall Business Centre Faraday Road Hereford Herefordshire HR4 9NS
7 July 2025
Page 4
Vipassana Trust (Dhamma Sukhakari)
## Statement of Financial Activities
## for the Year Ended 30 September 2024
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Meditation Courses
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**441,742**
**21,798**
**463,540**
**321,948**
**141,592**
**1,238,673**
**1,380,265**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**38,075**
**38,075**|**2024**
**Total**
**funds**
**£**
**441,742**
**21,798**
**463,540**
**321,948**
**141,592**
**1,276,748**
**1,418,340**|2023
Total
funds
£
387,289
11,979
399,268
305,850
93,418
1,183,330
1,276,748|
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
Vipassana Trust (Dhamma Sukhakari)
## Balance Sheet
## 30 September 2024
|Notes
**FIXED ASSETS**
Tangible assets
6
**CURRENT ASSETS**
Debtors
7
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
9
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**1,938,381**
**30,748**
**514,829**
**545,577**
**(86,860)**
**458,717**
**2,397,098**
**(1,016,833)**
**1,380,265**|Restricted
fund
£
**37,250**
**-**
**825**
**825**
**-**
**825**
**38,075**
**-**
**38,075**|**2024**
**Total**
**funds**
**£**
**1,975,631**
**30,748**
**515,654**
**546,402**
**(86,860)**
**459,542**
**2,435,173**
**(1,016,833)**
**1,418,340**
**1,380,265**
**38,075**
**1,418,340**|2023
Total
funds
£
1,951,088
24,043
432,470
456,513
(292,354)
164,159
2,115,247
(838,499)
1,276,748
1,238,673
38,075
1,276,748|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
Vipassana Trust (Dhamma Sukhakari)
## Balance Sheet - continued
## 30 September 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 7 July 2025 and were signed on its behalf by:
M S Bhagwat - Trustee
The notes form part of these financial statements
Page 7
Vipassana Trust (Dhamma Sukhakari)
Notes to the Financial Statements for the Year Ended 30 September 2024
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% straight line Fixtures and fittings - Various between 5%-25% reducing balance Motor vehicles - 25% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
Vipassana Trust (Dhamma Sukhakari)
## Notes to the Financial Statements - continued for the Year Ended 30 September 2024
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||**2024**|2023|
||**£**|£|
|Deposit account interest|**21,798**|11,979|
## **3. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Auditors' remuneration|**2024**
2023
**£**
£
**1,500**
1,414|
|---|---|
|Depreciation - owned assets|**57,251**
66,922|
|Surplus on disposal of fixed assets|**-**
(9,552)|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
## **Trustees' expenses**
No trustees received expense payments for their duties as a trustee. One trustee, A Forbes, was reimbursed out of pocket expenses totalling £2,331 (2023: £1,530) for a period they were volunteering as a centre manager.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Meditation Courses
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
375,589
11,979
387,568
305,850
81,718
1,156,955
1,238,673|Restricted
fund
£
11,700
-
11,700
-
11,700
26,375
38,075|Total
funds
£
387,289
11,979
399,268
305,850
93,418
1,183,330
1,276,748|
|---|---|---|---|
continued...
Page 9
Vipassana Trust (Dhamma Sukhakari)
## Notes to the Financial Statements - continued for the Year Ended 30 September 2024
## **6. TANGIBLE FIXED ASSETS**
|Land and
buildings
£
**COST**
At 1 October 2023
**1,917,474**
Additions
**53,988**
At 30 September 2024
**1,971,462**
**DEPRECIATION**
At 1 October 2023
**145,945**
Charge for year
**33,498**
At 30 September 2024
**179,443**
**NET BOOK VALUE**
At 30 September 2024
**1,792,019**
At 30 September 2023
1,771,529
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 10)
Other loans (see note 10)
Trade creditors
Other creditors
Accrued expenses|Fixtures
and
fittings
£
**335,364**
**27,806**
**363,170**
**155,805**
**23,753**
**179,558**
**183,612**
179,559|||Motor
vehicles
£
**2,450**
**-**
**2,450**
**2,450**
**-**
**2,450**
**-**
-
**2024**
**£**
**-**
**27,704**
**3,044**
**30,748**
**2024**
**£**
**31,234**
**25,000**
**22,821**
**77**
**7,728**
**86,860**|Totals
£
**2,255,288**
**81,794**
**2,337,082**
**304,200**
**57,251**
**361,451**
**1,975,631**
1,951,088
2023
£
13,026
6,101
4,916
24,043
2023
£
27,926
230,000
26,468
239
7,721
292,354|
|---|---|---|---|---|---|
continued...
Page 10
Vipassana Trust (Dhamma Sukhakari)
## Notes to the Financial Statements - continued for the Year Ended 30 September 2024
## **9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|Bank loans (see note 10)
Other loans (see note 10)
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Other loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Other loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
Other loans more 5yrs instal
**MOVEMENT IN FUNDS**
**Unrestricted funds**
Unrestricted Fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|At
1.10.23
£
**1,238,673**
**38,075**
**1,276,748**|**2024**
**£**
**429,333**
**587,500**
**1,016,833**
**2024**
**£**
**31,234**
**25,000**
**56,234**
**31,611**
**435,000**
**466,611**
**72,508**
**110,000**
**182,508**
**325,214**
**42,500**
**367,714**
Net
movement
in funds
£
**141,592**
**-**
**141,592**|2023
£
460,999
377,500
838,499
2023
£
27,926
230,000
257,926
40,807
335,000
375,807
66,107
42,500
108,607
354,085
-
354,085
At
30.9.24
£
**1,380,265**
**38,075**
**1,418,340**|
|---|---|---|---|
## **10. LOANS**
## **11. MOVEMENT IN FUNDS**
continued...
Page 11
Vipassana Trust (Dhamma Sukhakari)
## Notes to the Financial Statements - continued for the Year Ended 30 September 2024
## **11. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Unrestricted Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
Unrestricted Fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are
**Unrestricted funds**
Unrestricted Fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|Incoming
resources
£
**463,540**
**463,540**
At
1.10.22
£
1,156,955
26,375
1,183,330
as follows:
Incoming
resources
£
387,568
11,700
399,268||Resources
expended
£
**(321,948)**
**(321,948)**
Net
movement
in funds
£
81,718
11,700
93,418
Resources
expended
£
(305,850)
-
(305,850)|Movement
in funds
£
**141,592**
**141,592**
At
30.9.23
£
1,238,673
38,075
1,276,748
Movement
in funds
£
81,718
11,700
93,418|
|---|---|---|---|---|
continued...
Page 12
Vipassana Trust (Dhamma Sukhakari)
## Notes to the Financial Statements - continued for the Year Ended 30 September 2024
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
Unrestricted Fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|At
1.10.22
£
1,156,955
26,375
1,183,330|Net
movement
in funds
£
223,310
11,700
235,010|At
30.9.24
£
1,380,265
38,075
1,418,340|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Unrestricted Fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|Incoming
resources
£
851,108
11,700
862,808|Resources
Movement
expended
in funds
£
£
(627,798)
223,310
-
11,700
(627,798)
235,010|
|---|---|---|
## **12. CAPITAL COMMITMENTS**
Capital commitments authorised by the board and contracted for totalled £12.6k. (2023: £20.2k).
Capital commitments authorised by the board but not contracted for totalled £82.2k. (2023: £20.4k).
## **13. RELATED PARTY DISCLOSURES**
A Forbes, a charity trustee, works as a volunteer processing applications for courses. On occasions, just before a course is about to commence, he makes himself available to handle the extra demands this role entails and he is reimbursed for this loss of income, 2024 total £382 (2023: £1,108). There were no other related party transactions for the year ended 30th September 2024.
Page 13
Vipassana Trust (Dhamma Sukhakari)
|Detailed Statement of Financial Activities
for the Year Ended 30 September 2024
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Kitchen costs
Course expenses
**Support costs**
**Management**
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Motor expenses
Property repairs
Computer costs
Sundry expenses
Depreciation of tangible and heritage assets
Loss on sale of intangible fixed assets
**Finance**
Bank charges
Bank interest
**Governance costs**
Auditors' remuneration
Accountancy and legal fees|2024
£
**358,496**
**83,246**
**441,742**
**21,798**
**463,540**
**101,193**
**6,622**
**107,815**
**15,860**
**7,058**
**36,559**
**1,570**
**876**
**1,727**
**46,358**
**1,286**
**1,440**
**57,251**
**-**
**169,985**
**3,651**
**36,594**
**40,245**
**1,500**
**2,403**
**3,903**|2023
£
314,263
73,026
387,289
11,979
399,268
84,704
5,479
90,183
12,430
7,201
38,426
1,583
877
2,179
52,090
683
3,846
66,922
(9,552)
176,685
4,253
31,108
35,361
1,414
2,207
3,621|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14
Vipassana Trust (Dhamma Sukhakari)
|Total resources expended
**Net income**|Detailed Statement of Financial Activities
for the Year Ended 30 September 2024|2024
£
**321,948**
**141,592**|2023
£
305,850
93,418|
|---|---|---|---|
|||||
This page does not form part of the statutory financial statements
Page 15