The Samatha Trust
Trustees’ Annual Report for the year ended 5 April 2023
The Samatha Trust is registered with the Charity Commission of England and Wales. It is 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 2023 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.
We provide a full programme of residential courses/retreats at Greenstreete including Beginners' Weekends that are open to members of the public. In-person meetings take place at all of the centres and alongside these we continue to deliver several 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 re-wilding project at Greenstreete that benefits the local and wider regional environment has progressed alongside the upgrading of the content management system of the Samatha website: https://samatha.org
F. Warren, Chairman
On behalf of the Trustees
30 October 2023
THE SAMATHA TRUST
REPORT OF THE TRUSTEES
| ACCOUNTS FOR THE YEAR ENDED | 5th April | 2023 | |
|---|---|---|---|
| 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 2023
Basis of preparation
These accounts have been prepared 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
THE SAMATHA TRUST
STATEMENT OF ASSETS AND LIABILITIES
| FOR THE YEAR ENDED 5 APRIL 2023 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 |
2023 2022 884,706 961,132 32,554 32,285 917,260 993,417 169,821 239,044 11,414 17,542 |
2023 2022 884,706 961,132 32,554 32,285 917,260 993,417 169,821 239,044 11,414 17,542 |
||
|---|---|---|---|---|
| 1,098,494 1,250,003 (39,718) (107,088) 0 0 (34,930) (59,930) 1,023,847 1,082,985 |
||||
| 1,082,985 | ||||
| 0 1,023,847 |
0 | |||
| 1,082,985 |
| UNRESTRICTED FUNDS RECONCILIATION FOR THE YEAR ENDED 5 APRIL 2023 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 |
1 | |
|---|---|---|
| 1 | ||
THE SAMATHA TRUST
NOTES FORMING PART OF THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
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 |
2023 2022 86,732 66,281 13,924 23,831 61,319 143,638 6,498 4,883 255 253 0 0 1,093 158 |
|---|---|
| 169,821 239,044 |
|
| 5,916 5,526 1,019 7,907 4,479 4,109 |
|
| 11,414 17,542 |
| 4 Fixed assets | Land Green- streete Shrine Hall Manchester Centre Fixtures & fittings Tools & Machinery Southern Centre |
TOTAL |
|---|---|---|
| Cost or valuation As at 5th April 2022 Additions As at 5th April 2023 Depreciation As at 5th April 2022 Charge for period As at 5th April 2023 Net Book Value As at 5th April 2022 As at 5th April 2023 Depreciation rate |
101,616 344,989 130,667 504,255 36,032 5,522 679,288 - - - |
1,802,369 0 1,802,369 607,718 76,427 917,664 961,132 884,706 |
| 101,616 344,989 130,667 504,255 36,032 5,522 679,288 |
||
| - 321,463 130,667 211,696 36,032 5,522 135,857 - 17,249 0 25,213 0 33,964 |
||
| - 338,712 130,667 236,909 36,032 5,522 169,821 |
||
| 101,616 23,525 0 292,560 0 0 543,431 |
||
| 101,616 6,276 0 267,347 0 0 509,467 |
||
| 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.
| 2023 | 2022 | ||
|---|---|---|---|
| **5 ** | Investments at cost | ||
| Standard Life Select Property Accumulation | 12,201 | 12,201 | |
| JPMorgan Japan Fund Accumulation Shares | 10,040 | 10,040 | |
| AXA Framlington Japan Fund Accumulation Units | 10,313 | 10,044 | |
| 32,554 | 32,285 | ||
| The market value of the investments was £51,665 as at 30 April 2023 | |||
| Net dividends of £269.49 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 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 Gift Aid interest and bank interest 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 Website Accountancy expenses Local group grants Publications and printing General (see Appendix 1) Samatha Centre, Greenstreete (see Appendix 2) (Shortfall) / Excess of income over expenditure |
2023 2023 2022 34,632 24,382 9,426 8,105 49,245 48,409 2,820 360 - 32,750 - 207,455 0 86 0 0 1,836 3,287 0 288 0 0 2,722 452 666 0 |
|---|---|
| 101,346 325,575 |
|
| 0 0 0 0 0 0 25,000 0 0 5992 807 1,449 5,193 7,670 0 0 3,460 0 900 660 603 0 4,407 0 18,789 11,354 44,931 27,806 |
|
| 104,090 54,930 |
|
| (2,744) 270,645 |
| THE SAMATHA TRUST LAND ACCOUNT INCOME AND EXPENDITURE FOR THE YEAR ENDED 5 APRIL 2023 INCOME Grass Keep / Grazing Wetland payment NRW Payment Wayleave EXPENDITURE Hedges and fences Woodlands Garden/lawns Wetlands improvements Tree cutting Cascades/pond Huts Resurface drive Excess / (Shortfall) of income over expenditure |
2023 2022 3,400 3,965 0 1,085 214 210 |
|---|---|
| 4,700 4,175 |
|
| 5,630 5,410 3,502 1,480 2,655 2,361 1,217 298 194 16,659 0 556 |
|
| 30,155 9,806 |
|
| (25,456) (5,631) |
| SAMATHA TRUST - SOUTH ACCOUNT (Formerly London Appeal) INCOME AND EXPENDITURE FOR THE YEAR ENDED 5 APRIL 2023 INCOME Donations - one-off Donations - standing orders and give as you earn gross Online donations 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 Post and stationery Projects Publicity Household purchases - Gatcombe Utilities: Water, Gas, electric and telephone Meetings Loan repayment to Trust re mortgage repayment Mortgage monthly payments-capital Mortgage lump sum payment Surplus / deficit +/- |
2023 2022 15,488 12,951 11,362 16,575 969 0 0 0 0 0 0 6,364 0 0 0 0 2,731 2,028 |
|---|---|
| 30,550 37,918 |
|
| 72 96 2,709 2,606 0 0 613 8,466 1,961 823 49 86 0 0 2,640 24,155 0 0 0 421 2,019 1,778 0 0 0 0 7,370 60,000 0 |
|
| 77,434 38,430 |
|
| (46,883) -512 |
| THE SAMATHA TRUST APPENDICES 1 & 2 - BREAKDO FOR THE YEAR ENDED 5 APRIL 2023 1 GENERAL EXPENDITURE Insurance Newsletter Publicity Computer/internet/zoom licences Meetings Postage and stationery Administrator Administrator expenses Bank charges Sundry/subscriptions/thirty-one eight 2 GREENSTREETE EXPENDITURE Food Travel for teachers House contents Building maintenance Projects and outsourced maintenance incl new fire. Huts and tents Telephone Electricity Gas Oil and heating Water Council tax Waste disposal/recycling Library Additional Accommodation etc for celebration Miscellaneous-Memorial tree |
WN OF EXPENDITURE 2023 2022 5,565 5,352 0 - 669 534 2,283 3,865 60 - 817 14 9,040 6,323 137 393 72 96 145 129 |
|---|---|
| 18,789 11,354 |
|
| 14,877 8,962 159 216 3,373 896 1,285 3,153 7,333 0 0 0 715 577 2,580 769 354 239 3,772 3,059 460 (301) 4,404 4,254 312 239 443 375 4,743 0 121 15 |
|
| 44,931 22,454 |
Independent Examine$ Report to the Trust•e¥ of The Samatha Trust Charity Number:1179867 Independ•nt examlntrrfs report to thè trustees of The Samatha Trtt I report lo the charity trustees on my éxamination of the a¢xounts of The Samatha Trust (the Trust) fw Ihe year et)ded 5 A.pril 2023. Raspon8lbllities and basis of report As the charty trustees ol thé Trust yt)u are rèBpOnsit for th& preparation of the ar£ryJnts in 0)rdance with the requirements of the Charities Ad 2011 Ilhe Acri. I report in respect of my exaMIn)n of Ihe Twsfs UnIS carri8(l oui uTrJer Section 145 of the Act and in carying out my examinatton I have followed all applicable Difeclions gNen by the Charty Commission under seclion 14515llbl of the Act Indgpend•nt examlnerf8 8tstem•nt I havtr completed my examination. I confirm that no mattrrial rnatt5 have come to my attention In connection with the 8xaninalit)n giving rne cause to believe that in any maleiial reSpt.. attounting records wer• not kept in iesp8Ct of the Trust as WLrired by saction 130 ofthe Act., or the accounts do nol accord wth thos¢ recofds., or the accounls do not CoMY with th& applicable requiiemenls conceming thg form and content of account5 set out in the Charities IAco)unt$ and Reports) Regulations 2CKJ8 other Ihan any f4uirement that a¢¢ounls gNe true and la4r view whith is not a matter ConS*Ted as part ofan independent èX8mination. I hale no conc8m8 and have come across no oth¥r matters in connec11) wrth the e¥amin8tion lo which att•ntion should be drawn in ¢his report in order lo enable a proper und8rstsnding olthtr aCunts lo be r¥ad)ed. lancy Limited ified Accountarf$ Chartere Old Ch TheG en Lower Boddlngton Northamplonshi NN116YE Date.. 21° Nov&mter 2023