## 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_ **----- Start of picture text -----**
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 Tr￿t 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 00￿Unts 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