## 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 Trt￿t 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 rèBpOnsi￿t 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 rnatt￿5 have come to my attention In connection with the 8xaninalit)n giving rne cause to believe that in any maleiial reSp￿t.. 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 CoM￿Y 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 aC￿unts lo be r¥ad)ed. lancy Limited ified Accountarf$ Chartere Old Ch TheG en Lower Boddlngton Northamplonshi NN116YE Date.. 21° Nov&mter 2023