The Samatha Trust
Annual Report for the year ended 5 April 2021
The Samatha Trust is now a Charitable Incorporated Organisation, No. 1179867 (entered on Register of Charities 10 September 2018).
Its address is: The Samatha Centre, Greenstreete, Llangunllo, Nr Knighton, Powys, LD7 lSP.
The charity trustees during the year to 5 April 2020 were:
Ms F. Warren Chairman Ms A.Woods Secretary Mrs S. Steele, Treasurer Mr R. Adkins Dr P.A. Dennison Dr J. Elsner Mr C.G. Gilchrist Mr C. King Mrs D. Raikes Mr C.M.M. Shaw
New trustees are appointed by the Trustees.
The Trust sponsors classes, lectures and courses, most notably for the advancement of Samatha meditation. Classes are provided by affiliated groups at various locations around the UK – for example in London, Manchester, Oxford and Cambridge – and also in Ireland. Most expenses are funded locally and teaching is provided by unpaid volunteers. The Samatha Trust has no full-time employees.
Apart from weekends for beginners, no charge is made for courses at Greenstreete and the Trust relies on donations to cover the running costs of the centre. Annual expenditure for the Trust was covered by donations.
The property at Milton Keynes (purchased in 2018) has undergone refurbishment in the past year which has enabled residential courses as well as regular weekly classes and events.
In response to COVID-19, during the past year The Trust has continued to focus on delivering regular on-line meditation classes for new and continuing members, nationally and internationally, and weekly on-line talks on Buddhist teachings and meditation as well as in-person meetings where permitted under governments’ guidance.
The conversion of the Trust into a Charitable Incorporated Organisation (begun in 2018) is now concluded. The transfer of assets and liabilities was fully completed in March 2021. We are currently being required to open new bank accounts as a CIO and once these are in operation the existing Trust bank accounts will be closed. The name and purpose of the charity remains the same.
F. Warren, Chairman
7th December 2021
On behalf of the Trustees
THE SAMATHA TRUST
| ACCOUNTS FOR THE YEAR ENDED | 5th April | 2021 |
|---|---|---|
| Page | ||
| Contents | 1 | |
| Accounting policies | 2 | |
| Statement of Assets and Liabilities | 4 | |
| Notes forming part of the accounts | 6 | |
| General Fund income and expenditure account | 8 | |
| Land Account income and expenditure account | 9 | |
| Samatha south (formerly London Appeal) Income and expenditure | account | 10 |
| Appendices to the General Fund income and expenditure account | 11 | |
| Manchester Extension appeal | 12 |
2021
THE SAMATHA TRUST
ACCOUNTING POLICIES
FOR THE YEAR ENDED
5th April
Basis of preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction unless otherwise stated in the relevant notes to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Repo Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repu Ireland (FRS 102) issued on 16 July 2014 and the Charities Act 2011
Recognition of Income
These are included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
it is more likely than not that the trustees will receive the resources: and
-
the monetary value can be measured with sufficient reliability.
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FR SORP
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 SORP).
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recover donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unles or the terms of the appeal have specified otherwise.
Income from interest, royalties and dividends is included in the accounts when receipt is probable and the amount rec be measured reliably.
Expenditure and liabilities
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the pay out resources and the amount of the obligation can be measured with reasonable certainty.
No material item of deferred income has been included in the accounts.
The charity has creditors which are measured at settlement amounts less any trade discounts.
Tangible fixed assets for use by the charity
These are capitalised if they can be used for more than one year. They are valued at cost.
They are depreciated at the following rates:
On machinery and tools at 25%, giving a 4-year lifetime
- On fixtures and fittings at 10%, giving a 10-year lifetime On buildings at 5%, giving a 20-year lifetime
Land is not depreciated
When assets are disposed of (i.e. scrapped or sold), the cost of these should be deducted from the depreciation reser disposal value (cash obtained on trade-in value) should be added to this reserve. They should of course also be dedu from the relevant asset account
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at cost.
Unrestricted funds
Funds are to be split between:
| GENERAL FUND LAND FUND CAMBRIDGE FUND LONDON FUND MANCHESTER EXTENSION FUND and DEPRECIATION RESERVE FUND THE SAMATHA TRUST STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 5 APRIL 2021 NOTES ASSETS 4 Fixed assets 5 Investments Current Assets 2 Cash at bank 3 Income tax recoverable Current liabilities Bank loan re Samatha South Centre Trade Creditors Members loans repayable Liabilities:amounts due in more than one year Bank loan re Samatha South Centre UNRESTRICTED FUNDS RECONCILIATION FOR THE YEAR ENDED 5 APRIL 2021 Opening balance as at 6th April Excess / (shortfall) of income over expenditure for the year: (1) General (2) Land (3) Samatha Trust South (formerly London) Total movment in the year Fixed assets purchased Mortgages received less repayments Member loans received less repayments Closing balance as at 5th April Fixed assets |
2021 2020 1,700,476 1,734,441 32,285 31,855 |
2021 2020 1,700,476 1,734,441 32,285 31,855 |
2021 2020 1,700,476 1,734,441 32,285 31,855 |
|---|---|---|---|
| 1,732,761 1,766,296 129,399 128,084 10,598 13,468 |
|||
| 1,872,758 1,907,848 (20,524) (19,737) 0 0 (86,130) (144,930) |
|||
| 1,766,103 1,743,181 |
|||
| (248,314) (234,921) |
|||
| 1,517,789 1,508,260 |
|||
| 2021 2020 141,552 130,650 67,287 42,214 (6,463) (3,905) 19,642 22,201 80,466 60,509 0 0 (23,221) (24,607) (58,800) (25,000) 139,996 141,552 1,700,476 1,734,441 |
2021 141,552 67,287 (6,463) 19,642 80,466 0 (23,221) (58,800) |
2020 130,650 42,214 (3,905) 22,201 60,509 0 (24,607) (25,000) |
|
| 139,996 | 141,552 |
| Investments Bank loans re Samatha South Centre Members loans repayable THE SAMATHA TRUST NOTES FORMING PART OF THE ACCOUNTS |
32,285 (268,839) (86,130) 1,517,789 |
31,855 (254,658) (144,930) |
|---|---|---|
| 1,508,261 | ||
FOR THE YEAR ENDED 5 APRIL 2021
1 STATUS
The Samatha Trust is a registered charitable incorporated organisation, number 1179867
| 2 Cash at Bank No.1 current account No. 2 current account CAF account CAF Cash (Samatha Trust South account) CAF Gold (Samatha Trust South account) Lloyds bank, Old Mortgage/Loan servicing Lloyds bank, Mortgage/Loan servicing 3 Income tax recoverable Income tax on standing orders Income tax on gifts (not recovered already) Samatha South gift aid 4 Fixed assets Land Green- streete Shrine Hall Manchester Centre Fixtures & fittings |
2 Cash at Bank No.1 current account No. 2 current account CAF account CAF Cash (Samatha Trust South account) CAF Gold (Samatha Trust South account) Lloyds bank, Old Mortgage/Loan servicing Lloyds bank, Mortgage/Loan servicing 3 Income tax recoverable Income tax on standing orders Income tax on gifts (not recovered already) Samatha South gift aid 4 Fixed assets Land Green- streete Shrine Hall Manchester Centre Fixtures & fittings |
2021 2020 48,948 54,285 17,445 24,372 45,982 26,816 14,515 17,169 253 5,251 650 190 1,605 |
|---|---|---|
| 129,399 128,084 |
||
| 5,340 5,515 483 4,749 4,776 3,204 |
||
| 10,598 13,468 |
||
| Tools & Machinery Southern Centre |
||
| Cost or valuation As at 5th April 2020 Additions As at 5th April 2021 Depreciation As at 5th April 2020 Charge for period As at 5th April 2021 Net Book Value As at 5th April 2020 As at 5th April 2021 Depreciation rate |
101,616 344,989 130,667 504,255 36,032 - - |
5,522 679,288 - |
| 101,616 344,989 130,667 504,255 36,032 |
5,522 679,288 |
|
| - 286,964 137,163 161,270 35,553 - 17,249 3,248 25,213 3,603 |
5,522 67,928 33,964 |
|
| - 304,214 140,411 186,483 39,156 |
5,522 101,893 |
|
| 101,616 58,024 0 342,986 479 |
0 611,360 |
|
| 101,616 40,775 0 317,773 0 |
0 577,395 |
|
| 5% 5% 5% 10% 0 5% |
Depreciation is charged on a straight-line basis. The land and Greenstreete property were acquired at a cost of £69,105 and £73,408 respectively.
All assets are held for use by the Samatha Trust in pursuit of the Trust's objectives.
| 2021 | |
|---|---|
| Investments at cost | |
| Standard Life Select Property Accumulation | 12,201 |
| JPMorgan Japan Fund Accumulation Shares | 10,040 |
| AXA Framlington Japan Fund Accumulation Units | 10,044 |
5 Investments at cost
32,285
The market value of the investments was £62,785 at the year end (2020, £53,663.25). Net dividends of £241.76 are re-invested directly into the funds (2020, £318.25).
THE SAMATHA TRUST STATEMENT OF FINANCIAL RESOURCES GENERAL FUND INCOME AND EXPENDITURE
FOR THE YEAR ENDED 5 APRIL
2021
| INCOME General Fund: Standing orders (gross) Donations from meditation weeks (gross) Donations from Golden Giving/Paypal (gross) Beginner's weekends course fees less refunds. Other donations - gross Southern Centre appeal (formerly London appeal) Samatha South insurance payment Manchester donations Solar panels Manchester zoom licence Local group grant repayments Adjustment for unclaimed gift aid EXPENDITURE Manchester Centre Library Gift Aid repayment Donations Building -Maint/repairs Loan repayments Southern Centre Loan assessment Open loan servicing account Accountancy expenses Local group grants Publications and printing General (see Appendix 1) Samatha Centre, Greenstreete (see Appendix 2) (Shortfall) / Excess of income over expenditure THE SAMATHA TRUST LAND ACCOUNT INCOME AND EXPENDITURE FOR THE YEAR ENDED 5 APRIL 2021 INCOME Grazing rights Wayleave EXPENDITURE Hedges and fences Woodlands Garden/lawns Wetlands improvements Cascades Resurface drive |
2021 2020 31,948 30,320 3,618 30,320 24,233 22,349 (1,040) 4,060 36,125 550 0 0 0 82 2,817 900 0 1,732 144 0 120 0 1,290 7,319 |
|---|---|
| 99,255 97,632 |
|
| 398 1,092 0 0 2,817 1,800 0 1,650 0 0 0 0 190 0 648 648 0 378 0 1,268 7,161 11,894 20,754 36,685 |
|
| 31,968 55,415 |
|
| 67,287 42,218 2021 2020 3,930 3,930 214 208 |
|
| 4,144 4,138 |
|
| 4,594 2,918 1,292 2,412 2,322 2,688 0 0 0 26 2,400 0 |
|
| 10,608 8,043 |
| Excess / (Shortfall) of income over expenditure SAMATHA TRUST - SOUTH ACCOUNT (Formerly London Appeal) INCOME AND EXPENDITURE FOR THE YEAR ENDED 5 APRIL 2021 INCOME Donations - one-off Donations - standing orders and give as you earn Mortgage received Interest free loans Gift aid recovered Samatha Trust contribution, loan repayment and repairs Interest Solar energy payment EXPENDITURE Monthly bank fees Council tax Food/Meetings Garden House maintenance Insurance Post and stationery Projects Publicity Household purchases - Gatcombe Utilities: Water, Gas, electric and telephone Meetings Mortgage and loan payments Surplus / deficit +/- THE SAMATHA TRUST APPENDICES 1 & 2 - BREAKDOWN OF EXPENDITURE FOR THE YEAR ENDED 5 APRIL 2021 1 GENERAL EXPENDITURE Journal Newsletter Publicity Computer/internet/zoom licences Meetings Postage and stationery Administrator Administrator expenses Bank charges Sundry/subscriptions 2 GREENSTREETE EXPENDITURE Building projects |
(6,463) (3,905) 2021 2020 11,124 27,249 17,846 15,955 0 0 0 0 3,204 8,342 7,190 0 2 16 751 1,333 |
|---|---|
| 40,117 52,895 |
|
| 69 60 2,530 2440 0 0 27 1134 281 4402 0 82 0 225 8,958 11788 324 235 2333 1,385 924 231 6,760 6983 |
|
| 20,475 30,694 |
|
| 19,642 22,201 2021 2020 - 2,258 - 0 343 489 1,096 97 18 280 79 82 4,578 7,415 1,215 69 60 978 |
|
| 7,161 11,894 |
|
| - 0 |
| Insurance Food Travel for teachers House contents Building maintenance Huts and tents Telephone Electricity Gas Oil and heating Water Council tax Waste disposal/recycling Library Travel costs for overseas teachers Miscellaneous |
4,883 4,750 945 10,995 - 274 364 677 5,834 3,172 740 2,358 413 303 1,434 1,660 80 536 451 2,258 498 517 4,110 4,013 239 192 464 245 0 4,600 299 137 |
|---|---|
| 20,754 36,685 |
value
orting by ublic of
RS 102
2 FRS 102
red on a ss the donor
eivable can
charity to
rve and the ucted at cost
TOTAL
1,802,369 0 1,802,369 694,401 83,278 777,679 1,734,441 1,700,476
11,959 10,040 10,044
2020
32,043
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