The Samatha Trust
Annual Report for the year ended 5 April 2022
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 2022 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.
The Samatha Trust continues to maintain a healthy financial position and donations meet the costs of running our three centres and residential courses at Greenstreete. Apart from weekends for beginners, no charge is made for courses.
Post COVID restrictions we have been able to provide a full programme of residential courses/retreats at Greenstreete including Beginners' Weekends which are open to members of the public. In-person meetings have resumed at all of the centres and alongside these we have continued to deliver regular on-line meditation classes for new and continuing members, nationally and internationally, and weekly on-line groups on Buddhist teachings and meditation. During the past year, The Samatha Trust has established strong links with the local Llangynllo Community Council and is beginning a re-wilding project at Greenstreete that will benefit the local and wider regional environment.
Following the conversion of the Trust into a Charitable Incorporated Organisation - that was completed in March 2021 - we were required to open some new bank accounts and this has been done. The end purpose of the charity remains the same.
F. Warren, Chairman
17 December 2022 On behalf of the Trustees
THE SAMATHA TRUST
| REPORT OF THE TRUSTEES | |||
|---|---|---|---|
| ACCOUNTS FOR THE YEAR ENDED | 5th April | 2022 | |
| Page | |||
| Contents | |||
| 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 |
THE SAMATHA TRUST
ACCOUNTING POLICIES
FOR THE YEAR ENDED
5th April
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2022
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Basis of preparation
These accounts have been prpeared under the historical cost convention with items recognised at cost or transaction value 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 Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of 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 FRS 102 SORP
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor 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 receivable can 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 charity to 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 reserve and the disposal value (cash obtained on trade-in value) should be added to this reserve. They should of course also be deducted at cost 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
2021
THE SAMATHA TRUST
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 5 APRIL 2022
NOTES ASSETS
2022
| 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 |
961,132 1,700,476 32,285 32,285 993,416 1,732,761 239,044 129,399 17,542 10,598 |
|
|---|---|---|
| 1,250,002 1,872,758 (107,088) (20,524) 0 0 (59,930) (86,130) 1,082,985 1,766,104 |
||
| 0 (248,314) 1,082,985 1,517,790 |
| UNRESTRICTED FUNDS RECONCILIATION FOR THE YEAR ENDED 5 APRIL 2022 Opening balance as at 6th April Adjustment to mortgage balances Adjustment to fixed assets Adjusted opening balance Excess / (shortfall) of income over expenditure for the year: (1) General (2) Land (3) Samatha Trust South (formerly London) Total movment in the year Depreciation charge Mortgages received less repayments Member loans received less repayments reflected in Income & Expenditure Closing balance as at 5th April |
2022 2021 1,517,790 1,519,346 40,039 (675,786) |
2022 2021 1,517,790 1,519,346 40,039 (675,786) |
|
|---|---|---|---|
| 882,042 270,645 (5,631) (512) 264,502 (63,559) 0 0 1,082,985 |
1,519,346 67,287 (6,463) 19,642 80,466 0 (23,221) (58,800) 1,517,790 |
||
THE SAMATHA TRUST
NOTES FORMING PART OF THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2022
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 (Gift Aid) Income tax on standing orders Income tax on gifts (not recovered already) Samatha South gift aid |
2022 2021 66,281 48,948 23,831 17,445 143,638 45,982 4,883 14,515 253 253 0 650 158 1,605 |
|---|---|
| 239,044 129,399 |
|
| 5,526 5,340 7,907 483 4,109 4,776 |
|
| 17,542 10,598 |
| 4 Fixed assets | Land Green- streete Shrine Hall Manchester Centre Fixtures & fittings Tools & Machinery Southern Centre TOTAL |
|---|---|
| Cost or valuation As at 5th April 2021 Additions As at 5th April 2022 Depreciation As at 5th April 2021 Charge for period As at 5th April 2022 Net Book Value As at 5th April 2021 As at 5th April 2022 Depreciation rate |
101,616 344,989 130,667 504,255 36,032 5,522 679,288 1,802,369 - - - 0 101,616 344,989 130,667 504,255 36,032 5,522 679,288 1,802,369 - 304,214 140,411 186,483 39,156 5,522 101,893 694,401 - 17,249 -9,744 25,213 -3,124 33,964 63,559 - 321,463 130,667 211,696 36,032 5,522 135,857 841,238 101,616 40,775 0 317,773 0 0 577,395 1,107,968 101,616 23,525 0 292,560 0 0 543,431 961,132 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.
| 5 Investments at cost Standard Life Select Property Accumulation JPMorgan Japan Fund Accumulation Shares AXA Framlington Japan Fund Accumulation Units |
2022 2021 12,201 12,201 10,040 10,040 10,044 10,044 |
|---|---|
| 32,285 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 2022 INCOME General Fund: Standing orders (gross) Cash/cheque donations from meditation weeks (gross) Donations from Golden Giving/Paypal (gross) Beginner's weekends course fees less refunds. Other donations - gross Legacy Samatha South insurance payment Manchester donations Solar panels (Greenstreete) Manchester zoom licence Local group grant repayments Adjustment for unclaimed gift aid EXPENDITURE General Gift Aid repayment Donations Building -Maint/repairs Sam Sth IF Loan repayments Legal - new deeds Manchester Centre Library Southern Centre Bank Loan Interest 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 |
2022 2021 24,382 31,948 8,105 3,618 48,409 24,233 360 (1,040) 32,750 36,125 207,455 0 86 0 0 2,817 3,287 0 288 144 0 120 452 1,290 |
|---|---|
| 325,575 99,255 |
|
| 0 0 2,817 0 0 0 0 5,992 0 1,449 398 7,670 0 0 190 660 648 0 0 0 0 11,354 7,161 27,806 20,754 |
|
| 54,930 31,968 |
|
| 270,645 67,287 |
THE SAMATHA TRUST
| LAND ACCOUNT INCOME AND EXPENDITURE FOR THE YEAR ENDED 5 APRIL 2022 INCOME Grazing rights Wayleave EXPENDITURE Hedges and fences Woodlands Garden/lawns Wetlands improvements Cascades Resurface drive Excess / (Shortfall) of income over expenditure |
2022 2021 3,965 3,930 210 214 |
|---|---|
| 4,175 4,144 |
|
| 5,410 4,594 1,480 1,292 2,361 2,322 0 0 556 2,400 |
|
| 9,806 10,608 |
|
| (5,631) (6,463) |
| SAMATHA TRUST - SOUTH ACCOUNT (Formerly London Appeal) INCOME AND EXPENDITURE FOR THE YEAR ENDED 5 APRIL 2022 INCOME Donations - one-off Donations - standing orders and give as you earn gross Mortgage received Interest free loans Gift aid recovered Samatha Trust contribution, IF loan repayment and repairs Bank interest Solar energy payment EXPENDITURE Monthly bank fees Council tax Food/Meetings Garden House maintenance Insurance - Two years Post and stationery Projects Publicity Household purchases - Gatcombe Utilities: Water, Gas, electric and telephone Meetings Loan payments Surplus / deficit +/- |
2022 2021 12,951 11,124 16,575 17,846 0 0 0 0 6,364 3,204 0 7,190 0 2 2,028 751 |
|---|---|
| 37,918 40,117 |
|
| 96 69 2,606 2,530 0 0 8,466 27 823 281 86 0 0 0 24,155 8,958 0 421 235 1,778 1,385 0 231 - 6,760 |
|
| 38,430 20,476 |
|
| (512) 19,642 |
THE SAMATHA TRUST APPENDICES 1 & 2 - BREAKDOWN OF EXPENDITURE
| FOR THE YEAR ENDED 5 APRIL 2022 1 GENERAL EXPENDITURE Newsletter Publicity Computer/internet/zoom licences Meetings Postage and stationery Administrator Administrator expenses Bank charges Sundry/subscriptions 2 GREENSTREETE EXPENDITURE Building projects 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 |
2022 2021 0 - 534 343 3,865 1,096 0 18 14 79 6,323 4,578 393 96 69 129 978 |
|---|---|
| 11,354 7,161 |
|
| - 5,352 4,883 8,962 945 216 - 896 364 3,153 5,834 0 740 577 413 769 1,434 239 80 3,059 451 (301) 498 4,254 4,110 239 239 375 464 0 0 15 299 |
|
| 27,806 20,754 |
Independent Examinerfs Report to the Truste•s ol The Samatha Trust Charity Number.1179887 Independent examinerfs report to the trustees tsfThE Samatha Trt I report lo the charity Iwstees on my examit)ation of tha 8ccoun18 of The S8malh8 Trust It Trust) foi Ihe year ended 5 April 2022. Responslbilltlgs and ba$is of report As Ihe charity tru&le¢5 of the Trust you afe responsible for th8 preparBtion of Ihè accounts in accord8nce wilh the requirements of the Charities Act 2011 Clhe ACVI. I report in respect of my Éxamination of the Trust's accounts carried out under sectlon 145 of the Aci and In carrylng out my exarninalion I have followed all applicable Dlrections given by the Charity Commission under section 14515llbl of thè Act. Independent examln8rfs statèment The cha¥ily'3 gross Incomo exceedèd É250,000 and l am qualified lo undertake the exarninalion by being a qu8lifled mèmber ol the Assoclolion of Chartered Certified Accountanls. I have completed my examination. I confirrn that no mal*rial mallers hav6 com& lo my attgnlbon in connection wllh the examination giving me cau8e lo believe Ihal in any rnaltrrlal Ipspect.. aceounling records were not ktrpl In respect Of the Trust a5 required by section 130 of the Act,. or the 8ccoun15 do not accor¢J with those recDrds; or the accounts do not comply with thé Applic8ble r8quiremen18 concernlng the form and conlenl of accounta sèt out In Ihe Ch8ritle8 (Accounts and Reportsl Regulations 2D08 othèr thèn any rÉqulremènt that the 00Unts give truè and fair vi8w which 13 not a Matter consldered as part ol an Independent examlnalion. I hovè no concems and have come ¥cros5 no other matters In connectlon wlth Ihg ex8mlnatlon lo whlch attenllon Should be drawn In this report In order lo enable a proper understanding ol tha Bccounts to ba raached. dr Cgmpb cc Carnpboll A uniancy Llmiled Charter8 ertified Accountants Old Chapel The Green Low¢r Boddinglon NorthBmptonshlre NN118YE Dale.. 31 O¢tober 2022