## 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 ThE SAMATHA YRVST Charlty numb8r. 1179867 IndepoThlent oxamln8fs report to tho Trust¢•s I report on tha a¢￿￿ts ofthe Tru51 lor th8 y88r end 5th Aprf 2021 Resp8Ctlvtr responslblliti8s of trusts¢$ and examlngr K AS th& ¢harltWs trusle8s. you are tesponilblg for the preparalson of the 8ccount8 In o¢¢ordance wlh the requlremen16 of the Charit￿9 Act 2011 Clhe Act'i. l rnport in rB5PgCt of my ex8minallon af the Trusvs accoun1$ cgrrfed Qul under 6eetlon 145 olthe 2011 Act and In carylng out my exarnlnat￿n, I have fellowed all the applicable Dir8c1knTr5 glven by Ihe Chadty Commlsslon undef sectlon 14515llbl of the Act. Independent￿•MIn0r> 8t•tement I havo ￿mplItsd My 8x8mlnatk)n. I conlkni thai nt* material m8tt8r8 hgvg ¢ome to my gttentlon kn connecllon ￿lfv th• •x8minqtlon whleh glvo$ me r￿u￿ to b81Ieve that in. ony malerSal rfr5P•Ct., the Bccounllng records were n¢1 ktpt In accordRnc8 wlth 8g¢llon 130 01 the Char#le8 Act.. or lh8 oc¢ounts dld not act￿d wllh tho accounlkng re¢ord$', or th& 8¢counis did nol comply with the BpplicabK8 18qvlrement8 concomlng the form and content of accounts s&t o¢Jl In th• Chorllle$ IAccounl$ and Rgportsl Regulations 2008 other than any requlwmgnl that the a¢¢ounl$ glve o'lru• ond lalr, vlewwhich b nol a m•ll•r con8EdaMd ai pirt of an Indepgndont oxomlnallon. I have Do Con￿rnI And have mè 8¢1088 no glh?r matters In connoGtbn with tho examsna￿On to which 8116nllon ihould ￿ drabvn In Ihli report In ordér to en8blo oppjr 8rstandlng oltho account$ to be reached. Andrew 6b•ll F¢CA C•m 911 A¢¢ountanGy Llml r8d Certlllod A¢coun d Chopel Th• Gre8n Lower èoddlnglon Northamptonshlre NN116YE 0811112021