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THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION (Charitable Incorporated Organisation)

TRUSTEES’ REPORT AND FINANCIAL STATEMENT

FOR THE YEAR ENDED 31ST DECEMBER 2023

Charity No: 1182213

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

REPORT AND ACCOUNTS

C O N T E N T S

	Page
Trustees’ Report	3 – 13
Independent Auditor’s Report	14 – 16
Consolidated Statement of Financial Activities	17
Statement of Financial Activities	18
Consolidated Balance Sheet	19
Statement of Cash Flows and Consolidated Statement of Cash Flows 20 - 21
Notes to the Accounts	22 - 43

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2023

The trustees present their annual report and financial statements of the charity for the year ended 31st December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, the Charities Act 2011 and Accounting and Reporting by Charites: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 1 January 2019.

WCCM was originally set up as a Charitable Trust, registered in July 1986 with the Charity Commission (No 327173 which has historically been governed by a Trust Deed dated 30 May 1986). Its Trustees considered that a more appropriate legal form for the WCCM Charity should be a Charitable Incorporated Organisation (CIO) and, to that end, established this CIO named The World Community for Christian Meditation on 26 February 2019. The trustees of the charitable trust became trustees of the CIO. The assets and liabilities of the charity were transferred from the old trust to the CIO on 1 January 2020. Some contracts and titles, however, were only legally transferred in 2023 with the opening of the bank accounts for the CIO but were operated in trust for the CIO by the charitable trust in the meantime. The Charitable Trust during the year continued to support this CIO with all actions taken and cash held in trust for this CIO. We began using the new CIO bank accounts on 1 April 2023 but some payments continued to be received on the Charitable Trust bank accounts throughout the rest of the year in trust for the CIO. Those accounts were closed prior to the closure of the Charitable Trust in July 2024.

OUR PURPOSE AND ACTIVITIES FOR THE PUBLIC BENEFIT

The World Community for Christian Meditation (WCCM) was formed for Charitable Purposes to communicate and nurture meditation passed on through the teaching of John Main in the Christian tradition and in the spirit of serving the unity of all.

The World Community makes a fundamental difference through its activities by teaching the Christian tradition of meditation. The rich context of this simple practical wisdom brings the truths of faith alive not only in a Christian, but also in an interfaith context. Meditation builds community, and therefore unity. Our community continues to nurture meditation groups across over a hundred countries, whilst our outreach activities and events have further reached many more people, both physically through our conferences and events and through the means of our internet outreach.

Our Vision

John Main’s teachings were based on the desert tradition of 4th century Christian mystics such as John Cassian. John Main started the first meditation groups in the 1970s, and later founded a Christian Meditation Centre. Gradually, a small community grew and became a ‘monastery without walls’ and after Main’s death in 1982, his student and colleague, Fr Laurence Freeman OSB (Benedictine monk and Catholic priest of the Olivetan congregation of Monte Oliveto) took up the mission, leading to a global expansion of the community.

Since 2016, we have been building, thanks to the generosity of community donors and friends, foundations and trusts, a physical home for the international community of Christian Meditators in Bonnevaux, near Poitiers in France. The establishment provides space for a small resident community, mainly of WCCM Oblates, a conference centre and a Residential Centre for retreats and courses. A contemplative cloister – a new building to be constructed offering further accommodation and meeting rooms - will follow in the third phase of construction.

Bonnevaux has become WCCM’s spiritual home. We began a full retreat programme there in 2019. One of the first events was for young people and we have made a particular effort to bring young volunteers to the centre, to experience the peace, tranquillity and opportunity for personal renewal which a stay there can facilitate. During the corona virus pandemic, WCCM developed programmes online, with broadcasts and retreats made available to a global audience via the internet ever since. Starting in 2022 and throughout 2023, the centre was fully functioning with in-person retreats.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Our Mission

As stated in our constitution, which has been accepted by all our national communities, we aim to ‘Communicate and nurture meditation as passed on through the teachings of John Main in the Christian tradition in the spirit of serving the unity of all’. WCCM sees this legacy as a gift which we should pass on widely to others.

Our activities and impact in 2023

WCCM continues to reach both existing and new audiences for these teachings via our national communities, as well as to a wider public via the internet. WCCM CIO supports the global community by providing necessary spiritual and management resources as well as guidance for its development and activities. Fr. Laurence Freeman OSB, as Director of WCCM, gave continued spiritual and organisational leadership, supported by the Guiding Board of WCCM that represents its global community, and by the employees and services of WCCM. WCCM is overseen by its Board of Trustees.

Examples of activities were in-person retreats in various national communities and at its retreat centre in Bonnevaux, as well as a broad offer of online events and WCCM+, a video streaming platform launched at the end of 2022. 2023 marked also the second full year of operations for the retreat centre in Bonnevaux where WCCM also hosted the annual John Main Seminar. One highlight of the year was the start of the WCCM Academy, a two-year hybrid interdisciplinary study program in contemplative practice. A training programme for senior teachers and a separate one for candidates who are both teachers and leaders were continued.

The Director continued to also undertake visits to national communities.

The Board of Trustees, meeting regularly, has overseen WCCM’s activities in 2023 and ensured that the funds received through income, donations and grants have been used as they were designated within the mission of WCCM. Our operations in France are managed by WCCM Trustees through the French legal entities by which it has been set up, starting with the Association for the defence, promotion and protection of Culture (ADPPC), an organization run independently of WCCM but supported by WCCM. The activities in Bonnevaux’s retreat centre are organized under the supervision of l’Association Abbaye de Bonnevaux – Centre pour la Paix (ABP) and supported by WCCM.

In light of the expanded activities of WCCM with the growth of the Bonnevaux retreat centre, online programmes and so on, the Guiding Board and the Board of Trustees started to search for an Associate Director Operations and Administration in 2023 in line with Fr. Laurence’s long-held desire to spend more time on writing, teaching, developing new leaders and giving spiritual direction. The role remained unfilled during 2023, however. Fr. Laurence announced in March 2024 that he would like to relinquish his operational and administrative duties by end of 2024 to fully focus on the spiritual side. At the end of 2023 the Board of Trustees agreed to commission an internal audit of the organisation, to be undertaken in the first half of 2024, to review our operations and identify areas of improvement.

No building construction took place during 2023; we concentrated on using the newly opened retreat centre to the maximum effect, welcoming guests hosted by our staff and supported by our volunteers and oblates resident in the Abbaye. However, we received the news of the approval of a major new grant from the Jurt Foundation in Switzerland to support the eventual construction of the third planned phase of Bonnevaux, the Contemplative Cloister.

In 2023, the Board of Trustees has been strengthened by three new members, Angelene Chan and John Siska in March, and Andrew Cresswell in July. After the end of the year, Jenny Scott was not available for a new term due to taking on other voluntary tasks within WCCM, and Andrew Cresswell and Steffen Naumann resigned for personal reasons.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Highlights

Spring retreats

2023 began with an 8-day silent retreat. These retreats are in high demand and our guests adopted the rhythm of the resident Benedictine Community, with some daily teaching sessions with Fr. Laurence. The retreat was well received.

In February we invited a group of people, including young adults, to come and plant trees in the grounds of the Bonnevaux retreat centre. Given that we offered free places, the week was much in demand – we could have filled the guesthouse several times over. We planted several hundred trees, a real investment in the natural order of the local terrain, which will be safeguarded for future generations as a result.

WCCM Academy

The tree planting retreat was closely followed by an intensive ‘in person’ week for the students of the WCCM Academy –a new venture for us and in its first year of teaching. 36 students had registered for the 2-year course – offered mainly online through WCCM teachers. Given its largely online nature, we considered it very important to have in-person sessions at Bonnevaux once a year and the students themselves valued this too. Now the cohort has entered its second year, we have gathered valuable feedback from the participants which has enabled us to improve the course. The vast majority of our students have continued enthusiastically into the second year. The course leaders have adapted the course based on student feedback – we find that the class has built wonderful relationships between the students who now ask for more time to meditate and engage in lectio together. They find the course takes on a life of its own beyond the intellectual challenge and stimulus. We are on a journey to clarify what contemplative education means! It is not just meditation and classes, but other experiences too.

Holy Week & Easter

Following the Academy week, we held our annual Holy Week retreat – incorporating a Guiding Board meeting. This was followed by the visit of 10 members of the WCCM Community in Singapore.

Spanish sculptor Pablo Redondo came to Bonnevaux for the second time and presented an exquisite sculpture from a piece of wood he had taken home from Bonnevaux on his previous visit. We were shown a video of him carving it into the sculpture entitled ‘The Rising Christ’ .

Rev. Dr. Sarah Bachelard from the Benedictus community in Australia then led a residency retreat and gave some wonderful talks before taking a silent retreat of her own.

The spiritual author Andrew Harvey also came to Bonnevaux for a residency. A French language retreat on the Enneagram led by French community followed at the end of June/beginning of July.

Around the same time, away from Bonnevaux, Fr. Laurence, with Giovanni Felicioni, led our regular annual retreat at Monte Oliveto in Tuscany, Italy with 27 participants.

Members of the Canadian Meditation community came to Bonnevaux for a national retreat at the end of July.

A Labyrinth in the Bonnevaux grounds has been created for meditators to follow and as an aid to prayer.

At the end August, we held a retreat for businesspeople from the Young Presidents’ Organisation. Our Trustee Bertrand Bouhour invited 12 colleagues from the US who gave very positive feedback regarding this kind of retreat for the future.

In the first half of September, our annual John Main Seminar (entitled ‘New Wine, new Wineskins’) was held at Bonnevaux. Attended by 40 in person and several hundred online, speakers were Andrew Harvey, Cynthia Bourgeault and Fr. Laurence Freeman. Some comments from participants:

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

‘I feel tremendous gratitude for the wisdom that streamed to us all, from Laurence, Cynthia and Andrew, during the John Main Seminar for 2023, and especially for the deepening that came about, as a result of having the space and time to absorb all that we reflected upon together’.

‘The retreat gave much needed authentic hope for our world, as we discovered together, how the New Wine of an emerging higher consciousness can be poured into New Wineskins, which are the new vessels, that we are all each becoming’.

‘The retreat was very profound and life giving, revealing the power of the Holy Spirit at work amongst us. The power of the retreat came from the realisation that we do indeed, have the means to overcome the deeply concerning predicament of our planet, through all the wisdom given to us from all the mystical traditions, that we have been so blessed with, and from the enduring power, strength and fortitude that comes from the practice of true meditation’.

In the autumn, a Yoga retreat took place at Bonnevaux with 26 participants.

Outreach to young people and World Youth Day, Lisbon .

Our Young Adult Coordinator organised a series of talks for young adult meditators in a series entitled ‘Fully Alive’. This included one in September with our National Coordinators from Ukraine, Maria and Albert Zacharovy. The series brought in almost 300 younger meditators who opened accounts on MyWCCM.

The youth coordinator also organised for a 20-strong delegation of WCCM young adult meditators from a wide variety of countries from Latin America, North America and Europe to travel to Lisbon for World Youth Day 2023. This once every four years event is attended by the Pope and enables hundreds of thousands of young people to celebrate their faith commitment. WCCM was keen to network and to take the practice of Christian Meditation to Lisbon to share with others. The delegation first had a three-day retreat with Fr. Laurence in Leira, Portugal before travelling to Lisbon where they had a space at the ‘City of Joy’ where they were able to hold meditation sessions for young people. They were joined by Christopher Prowse, Catholic Archbishop of Canberra, Australia, who also testified to the benefits of Christian Meditation. They met with WCCM Portugal and were also able to join with friends from Laudato Si, the young persons’ environmental movement. They took part in the meeting to launch the "Season of Creation" and helped Laudato Si with content and communication. Since their return, they have set up a post-Lisbon online meditation group which has been meeting every couple of weeks.

Online Talks and Events

Following the success of our online talks series in 2022, we launched ‘Metanoia’ (May your mind be Remade!) in 2023 – again with a set of 10 speakers to broadcast at monthly intervals. The opening speaker was Dr Barry White on the Science and Art of Healing’. He was followed in February by Diane Tolomeo. She gave a talk entitled ‘Teach me what I do not see’. Matthew Fox later spoke on ‘Letting our minds be remade regarding religion’, Marco Schorlemmer on Technology and Mark Carney on Economics. The Metanoia Series brought in over £35,000.

A very successful scripture series led by Fr. Laurence was also launched in September, aiming at straddling two years. Titled ‘The Space between Words: ‘How to read the Bible and other Sacred Texts’, the course attracted 358 participants and brought in over £37,000.

A series of round table dialogues with experts on the theme of ‘The Future of Intelligence’, building on a similar series in 2022, was organised in partnership with the Scientific and Medical Network. A talk in November by Dr Rowan Williams, former Archbishop of Canterbury, entitled ‘How alarmed should we be about AI?’ proved popular.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Contemplative Eucharist continued to be broadcast from the conference centre, with interpretation into Spanish and occasionally other languages, attracting a regular live online audience of between 100 and 140, and many more catching up online soon afterwards from around the globe.

Towards the end of the year, we launched the online speaker series for 2024 – entitled ‘Beholding Divine Beauty – and God saw that it was very good’. By year end, people had started signing up, with 50 already registered for an event with the philosopher Charles Taylor.

The Meditatio Centre in London

WCCM has run a centre based at St Mark’s Church in Clerkenwell, near the Angel in London, for more than twenty years, offering talks, events, day retreats, support for meditation and a wide range of resources including books, videos, CDs and other materials, yoga sessions and relevant art and photographic exhibitions in our large, airy meditation space. The centre remains a vibrant and welcoming facility for meditators of a wide variety of descriptions through our room hires to a Zen group, a Sufi group, an evangelical church and a variety of artists.

The 2023 programme was again well supported and successful, delivering over 30 events. We held introductory meditation courses regularly on Thursday evenings. A series of day retreats was held on Saturdays, and an online series – ‘Retreat with the Mystics’ was held with six sessions throughout the year on various topics such as ‘What is modern mysticism?’, ‘Seeking healing from suffering’, as well as evenings on Thomas Merton, Evagrius Pontus and Carl Jung. In March, we held a Meditatio Centre anniversary celebration which was attended by many members and friends.

The Director of the Centre worked with our larger team to rebalance the programme of guest speakers with regular introductory sessions to meditation and weekly sessions to support their practice of meditation. This makes the centre a more vibrant local attraction and has resulted in an increase in our group of dedicated volunteers.

Visits by the Director within WCCM

Fr. Laurence visited Hong Kong in February, speaking to the local community and at Hong Kong University.

He visited the Italian community for their 20th National Conference in March and gave a retreat at Monte Oliveto monastery in June.

He spoke at the WCCM France National Conference in May. He also spoke in Belgium in June at a conference about teaching meditation in schools.

In October, he led an international pilgrimage to Israel and Jordan.

WCCM National Communities

Our meditation groups have been reconfigured as a result of the COVID impact. Fewer groups meet in person but many more meet online. A new hybrid form of in-person and online groups is developing. Our 67 national communities have very diverse profiles but remain highly dedicated to the mission of the WCCM.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Overall, though, aside from the weekly meditation groups, 2023 marked a trend back to in-person events, particularly retreats and seminars. Meditation with children has been resumed strongly, and there has been a slight increase in introductory courses and Essential Teaching Workshops. Mid-range communities showed the strongest growth in 2023. Older communities saw a decline in in-person groups, especially the UK & Ireland. Leadership in the national communities remains strong and we welcomed new national coordinators in Portugal, the Netherlands, Fiji, Ireland, Malaysia, the Philippines, and a new co- national Coordinator in Switzerland. Regional community leaders continue to meet and support each other online, including in Africa and Asia. A silent retreat in Penang last October brought together WCCM Meditators from a variety of Asian countries with networking spin-offs. Our coordination of the national communities is overseen by our fulltime Director of Liaison between National Communities.

A new 4-week introductory course has been launched. It was delivered with translation in five languages and was attended by 3,000 people.

Meditatio

Meditatio is the outreach of the WCCM extending beyond a specifically religious audience.

Meditation with Children

A new training programme from 2022 ‘Meditation: A Gift for Life Guidelines for Meditation in Schools’ helped to support this outreach by many of our national coordinators. The national coordinators involved in this outreach meet regularly to support each other and develop their work. They were inspired by a three-year project in South Africa across a wide range of schools. They are planning a new online resource targeting school teachers directly.

Earth Crisis Group

In 2022, following Fr. Laurence’s participation in COP 26, the Guiding Board prioritised the creation of a contemplative response to the climate and ecology crisis. Earth Crisis Group (ECG), a regular online session hosted by different national communities, is attracting increasing numbers of participants. It inspired weekly meditation sessions globally with a focus on the environment. One of the ECG sessions in October, streamed from Vancouver, attracted many participants globally. We reprinted the book Self and the Environment by Charles Brandt. In 2023 our collaboration with Laudato Si was prioritised by our Guiding Board.

Contemplative Christianity

An international group has been formed to assist Christian clergy of all denominations to develop contemplative parishes. Preparations began for a visit of Rev. Dr Sarah Bachelard, an Australian theologian and priest, for a U.K. tour in 2024.

WCCM Oblates

In August, five WCCM Oblates participated in an international meeting of Benedictine Oblates at San Anselmo in Rome. The WCCM Council oversees its oblate community worldwide, especially highlighting the value of the “Oblate Path” as a spirituality for our time.

WCCM+

At the end of 2022 we launched WCCM+, our video streaming platform with more than 300 hours of recordings of talks, retreats, meditation sessions and major events. This is made available to members and others on a subscription basis.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Public Benefit Statement

WCCM’s Trustees consider that in terms of the organisation’s aims and objectives borne out by the above listed programme of activities, the organisation has had due regard to the Charity Commission’s public benefit guidance.

Financial Review

a) WCCM’s charitable income for the year 2023 was £1,685,242, (including Bonnevaux donations of £425K) which was £533K higher than last year’s total of £1,151,934 (including Bonnevaux donations of £270K) Donations were up on last year due to two fundraising initiatives, the Spring appeal and the Band of 100.

b) We received the last tranche of our Dalio Leadership fund grant and a new grant of £23K from the Trust for the Meditation Process.

c) In February we heard that the Jurt Foundation had agreed to support the next phase of our construction in Bonnevaux with a grant of €4.3m.

d) WCCM’s expenses in relation to the activities reported in the previous section of the annual report were £1,306,173, which was £145,448 more than 2022. WCCM therefore spent £379,069 less than its income in 2023.Consequently, WCCM’s restricted reserves are £11,054,530 in WCCM and the consolidated reserves are £ 9,601,645. WCCM’s unrestricted reserves are £667,996 in WCCM and Group.

Principal sources of funding

In 2023 WCCM continued to benefit from grants from the Dalio Family Foundation, Stiftung Auxilium Foundation, Trust for the Meditation Process, the Meditatio Foundation and contributions from the ‘Friends’ and Vision 2000 programme. We also received a number of donations from National Communities (£32,582). Individual members and supporters have donated, amongst others as part of the annual appeal and Band of 100 commitments. We are familiar with our donors and benefactors and maintain a register recording their details.

Our website also contributed a stream of funds through our video subscription service. In 2023 this brought in a little under £15,000. Added to supporting member subscriptions, this stream brought in £95,000. Online revenue totalled £114,000.

WCCM’s consolidated income shows funding from rental income for the Bonnevaux property. Activities in Bonnevaux are organised under the Association for the defence, promotion and protection of Culture (ADPPC) and supported by WCCM.

Investment powers and policy

The CIO constitution authorises the Trustees to make and hold investments using the general funds of the charity. The trustees have the power to invest in any way that they see fit. In 2023 the trustees decided to increase our funds invested in liquidity instruments held in GBP and Euro to GBP, so as to make best use of our cash. A total interest of £ 25,206 was received in the 2023 financial year for charitable usage.

Reserves policy

It is the charity's policy to aspire to maintain unrestricted funds, which are its free reserves, at a level of six months' expenditure. The unrestricted funds not designated or invested in tangible assets held by the charity at 31 December 2023 were £657,698, representing 6 months’ expenses. The reserves are set out in note 21 and show the reserves divided between unrestricted and restricted funds.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Fundraising standards

The WCCM is not registered with the Fundraising Regulator and the charity has not carried out any fundraising activities.

Banking

The CIO holds accounts with Barclays (transaction banking) and Cazenove (investments). We expected to be able to wind up the charitable trust in due course, once we had opened bank accounts for the CIO and all transactions transferred to the CIO bank accounts. As bank accounts were only opened during 2023 for the CIO, the charitable trust continued to support the CIO by operating its accounts in trust for the CIO in 2023. The old Trust bank accounts eventually closed down in the spring of 2024.

Future Plans and Developments

WCCM launched its new 2024 Online lecture series ‘Beholding Devine Beauty – and God Saw that it was very good’ towards the end of 2023. A plan for retreats to take place during 2024 had been developed. Plans were in place for the 2024 Academy week in which we would again be hosting our cohort of students, now in the second year of their studies. The Board of Trustees has commissioned an internal audit performed by volunteers in the first half of 2024. Initial studies and planning were being undertaken by architects, builders and engineers for the future work on the construction of the contemplative cloister.

Structure, Governance and Management

Set-Up and Governing document

The WCCM was registered as CIO No. 1182213 with the UK Charity Commission on 26 February 2019, its constitution bears the same date. The constitution (as amended) sets out the objects and powers of the charity and governs the actions of the trustees.

Organisation

The Board of Trustees comprised 9 members during most of 2023, however 6 members at the time of this report. The board meets between five and ten times a year to review the affairs of the charity and to consider management accounts and the financial position of the charity. To facilitate activities, the Board has delegated authority, within the terms of delegation approved by the trustees, for operational matters including financial, employment and other related activities. All decisions relating to financial strategy and policy are made by the board of trustees.

Appointment of Trustees

The constitution permits the board of trustees to appoint additional trustees as it sees fit.

All new trustees are asked to study the appropriate documentation issued by the Charity Commission.

Trustee induction and training

New trustees are given an in-house induction session by the operations manager. All Trustees maintain a good working knowledge of charity law and best practice through training courses and keeping up to date with the charity commission website.

Risk Management

The trustees have a risk management strategy which comprises an annual review of the risks the charity may face, the establishment of a procedure to mitigate risks as identified, and implementation of procedures design to minimise the impact on the charity should those risks materialise.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Key risks identified by the Trustees include the following:

Fundraising : WCCM needs to ensure an appropriate flow of funds, both restricted and unrestricted, over the long and the short term to support the operations of the WCCM. This is a continuous process and vital to the development of all aspects of the work of the Community. Internal programmes have been initiated to raise funds from key benefactors, the National Communities and from institutions, trusts and foundations. Throughout 2023, a fundraiser/ grant manager was in place supported by a fundraising committee. Should funding not cover the cost base of its current and planned activities, WCCM might need to cut back on the activities and its related expenditure.

Trustees, Guiding Board Members, Executives, Advisors, Oblates, Volunteers: – Succession planning at leadership level is a consideration that falls to the senior members of the Community, including the Trustees and the Guiding Board. The Trustees and the Guiding Board actively monitor the requirements and identify where gaps in experience and expertise need to be filled. Involvement from individuals in all these areas are vital to the future of the Community. The Boards have recently appointed a new Executive Director (October 2024) to strengthen the leadership team overseeing operations and administration.

Community integration : - It is important to the community that the teaching of John Main is supported in a consistent, clear and readily understood manner in all the countries in which WCCM is present. This is achieved through the work of the Meditation School which sets a consistent standard around the world for the teaching. National Coordinator conferences at intervals serve to maintain the integrity of teaching and core Community values. Lack of integration and the lack of sharing of best practice may cause duplication of costs and a lack of clarity in achieving our vision in both our “in reach” and “outreach” activities.

Sustainability of the Retreat Centre : WCCM is currently supporting ABP with funds to enable the start-up phase of the retreat center operations. It is essential for a sustainable operation to reach a sufficient level of nights per year by individual pilgrims as well as participants in retreats as well as to find a sufficient number of volunteers supporting the operations during the retreats. WCCM and ABP are reviewing the program structure and operations in Bonnevaux to make improvements based on the learnings of the first two years of operations. Further construction projects are postponed until improvements are implemented and sufficient use of existing premises has been reached.

Use of technology: Technology is an instrument to increase reach, generate income and deliver communication of our vision and encouragement to those who follow the path of meditation using the power of online courses, virtual meditation groups, skills training enhancement via podcasts, and regular nurturing of “the practice”. Integrity of communication needs to be ensured. Unnecessary and costly duplication can easily occur in our worldwide community. Data security standards and privacy protection need to be in place .

World economic fluctuations: Volatility in interest and currency exchange rates can impact the funding of our community by valuation of our assets and income from our investments. The change in the economic environment by its impact on the generosity of donors in supporting WCCM and encouraging members’ participation in various offered activities can also impact our income.

Legislation: - WCCM complies with legal requirements where it operates. Changes in legislation might impact income, e.g. recent legislation changes in the UK relating to legacies, which have in the past formed a significant part of our charitable income. Changes in legislation might also impact the cost of the charity in increasing the cost of compliance for our activities. WCCM has policies in place and follows legislative developments to ensure compliance with relevant legislation.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Key management personnel remuneration

Key staff have job descriptions which have been agreed by the trustees. Remuneration is determined according to the experience and skills that the staff members bring to their work and by reference to comparable posts in other organisations.

Reference and Administrative Details

Charity Number: 1182213

Principal Office: St. Mark's, Myddelton Square, London EC1R 1XX

Auditors: SCB (Accountants) Limited, Chartered Accountants, 31 Sackville Street, Manchester, M1 3LZ

Bankers: Barclays Bank Plc, 83-85 Notting Hill Gate, London W11 3JS

Solicitors: Bates Wells London LLP, 10 Queen Street Place, London EC4R 1BE

Investment Managers: Cazenove Capital Management, 12 Moorgate, London E2R 6DA

Website: www.wccm.org

Trustees: The Trustees and officers serving during the year and since the year end were as follows:

Angelene Chan (Appointed 6 March 2023, Acting Chair since July 2024) Mathias Beisswenger (Chair until September 2023) Bertrand Bouhour (Vice Chair since September 2023) Laurence Freeman OSB John Siska (appointed 6 March 2023, Treasurer since September 2023). John Paul Rathbone Andrew Cresswell (appointed 26 March 2023, resigned 7 May 2024) Steffen Naumann (acting Chair from January 2023, Chair September 2023, Resigned June 2024) Jennifer Scott (Term ending 16 March 2024)

Key management personnel:

Laurence Freeman OSB, Director Giovanni Felicioni - Director of Programmes Catherine Scott – Head of Operations

Statement of Disclosure To Auditor

So far as the Trustees are aware, there is no relevant audit information of which the charity's auditors are unaware. Additionally, the Trustees have taken all the necessary steps that ought to have been taken as trustees in order to make themselves aware of any relevant audit information and to establish that the Charity's auditors are aware of that information.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Statement of Trustees' Responsibilities

The charity trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the Trustees are required to:

(a) select suitable accounting policies and apply them consistently;
(b) observe the methods and principles in the applicable Charities SORP;
(c) make judgements and estimates that are reasonable and prudent;
(d) state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and
(e) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and the financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Auditors

A resolution will be proposed and agreed at the Annual General Meeting that SCB (Accountants) Ltd. be re-appointed as auditors of the Charity for the ensuing year.

Approval

This report was approved by the Trustees on 29[th] October 2024 and signed on their behalf.

Angelene Chan Trustee

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

Opinion

We have audited the financial statements of The World Community for Christian Meditation for the year ended 31[st] December 2023, which comprise the Consolidated Statement of Financial Activities (Summary Income and Expenditure Account), Statement of Financial Activities (Summary Income and Expenditure Account), the Consolidated Balance Sheet, the Statement of Cash Flows and Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group’s and charitable company’s affairs as at 31[st] December 2023 and of its incoming resources and application of resources, including the group’s and charitable company’s income and expenditure, for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.

We have nothing to report in this regard.

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

Opinions on other matters prescribed by the Charities Act 2011

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements: and
The trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;
the financial statements are not in agreement with the accounting records and returns;
certain disclosures of trustees’ remuneration specified by law are not made;
we have not received all the information and explanations we require for our audit;
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and
take advantage of the small companies exemption in preparing the Directors’ and Trustees’ Report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statements set out on page 13, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charities’ ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We discussed with the Trustees the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, UK tax legislation, Charity Act 2011, SORP 2019. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and appropriateness of other entries in the nominal ledger; reviewing transactions around the end of the reporting period; and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report, including the opinions, has been prepared for and only for the Charity’s Trustees as a body in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act (Regulation 30 of the Charities (Accounts and Reports) Regulations 2008) and for no other purpose. To the fullest extent permitted by law, we do not accept or assume any responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jeffrey Bor FCA (Senior Statutory Auditor) For and on behalf of SCB (Accountants) Ltd 31 Sackville Street, Manchester M1 3LZ

Date : 29[th] October 2024

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Notes Income Grants, donations and legacies 2 Income from charitable activities: Grants and donations 3 Retreats, events and courses 4 Resource sales 5 Income from other trading activities 6 Investment income 7 Total income Expenditure Cost of raising funds 9 Expenditure on charitable activities 10 Total expenditure Gains / Losses on exchange differences 16 Gains / Losses on consolidation Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Net income / (expenditure) & net movement in funds	Unrestricted Funds £ 615,563 - 231,564 13,277 17,947 25,206	Restricted Funds £ 758,404 23,281 - - 139,608 - 921,293 - 1,154,678 1,154,678 (233,385) (219,146) 40,283 (412,248) 10,013,893 9,601,645	2023 2022 £ £ 1,373,967 927,898 23,281 30,966 231,564 153,332 13,277 17,332 157,555 152,633 25,206 5,351 1,824,850 1,287,512 64,362 58,614 1,912,264 1,952,971 1,976,626 2,011,585 (151,776) (724,073) (219,146) 560,958 40,283 (107,214) (330,639) (270,329) 10,600,280 10,870,609 10,269,641 10,600,280
	903,557
	64,362 757,586
	821,948
	81,609 - -
	81,609 586,387
	667,996

CONTINUING OPERATIONS

None of the Charity’s activities were acquired or discontinued during the above two financial periods.

TOTAL RECOGNISED GAINS AND LOSSES

The Charity has no recognised gains or losses other than the above movements in funds during the above two financial periods.

The notes on pages 22 to 43 form part of these financial statements.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Notes Income Grants, donations and legacies 2 Income from charitable activities: Grants and donations 3 Retreats, events and courses 4 Resource sales 5 Income from other trading activities 6 Investment income 7 Total income Expenditure Cost of raising funds 9 Expenditure on charitable activities 10 Total expenditure Gains / Losses on exchange differences 16 Unrealised deficit on investment in subsidiary 16 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Net income / (expenditure) & net movement in funds	Unrestricted Funds £ 615,563 - 231,564 13,277 17,947 25,206 903,557 64,362 757,586 821,948 81,609 - - 81,609 586,387 667,996	Restricted Funds £ 758,404 23,281 - - - - 781,685 - 484,225 484,225 297,460 (219,146) (204,950) (126,636) 11,181,166 11,054,530	2023 2022 £ £ 1,373,967 927,898 23,281 30,966 231,564 153,332 13,277 17,332 17,947 17,055 25,206 5,351 1,685,242 1,151,934 64,362 58,614 1,241,811 1,102,111 1,306,173 1,160,725 379,069 (8,791) (219,146) 560,958 (204,950) (335,091) (45,027) 217,076 11,767,553 11,550,477 11,722,526 11,767,553

CONTINUING OPERATIONS

None of the Charity’s activities were acquired or discontinued during the above two financial periods.

TOTAL RECOGNISED GAINS AND LOSSES

The Charity has no recognised gains or losses other than the above movements in funds during the above two financial periods.

The notes on pages 22 to 43 form part of these financial statements.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

CONSOLIDATED BALANCE SHEET

AS AT 31ST DECEMBER 2023

Notes Fixed assets Tangible assets 15 Investment - Social investment 16 Total Fixed Assets Current assets Stock Debtors 17 Cash at bank and in hand 18 Total Current Assets Liabilities Creditors falling due within one year 19 Net current assets Net assets The funds of the charity Unrestricted funds 20 Restricted funds 20 Minority interests Total charity funds	Group 2,023 £ 7,427,037 - 7,427,037 8,763 87,585 3,004,373 3,100,721 (261,317) 2,839,404 10,266,441 667,996 9,601,645 (3,200) 10,266,441	Group 2,022 £ 7,836,207 - 7,836,207 8,763 77,126 2,941,083 3,026,972 (266,828) 2,760,144 10,596,351 586,387 10,013,893 (3,929) 10,596,351	Charity Charity 2,023 2,022 £ £ 10,297 10,009 9,078,055 9,407,917 9,088,352 9,417,926 8,763 8,763 29,678 47,230 2,717,428 2,471,670 2,755,869 2,527,663 (121,695) (178,036) 2,634,174 2,349,627 11,722,526 11,767,553 667,996 586,387 11,054,530 11,181,166 - - 11,722,526 11,767,553

These accounts were approved by the Trustees on 29[th] October 2024 and were signed on their behalf by:

…………………………………………………………. ANGELENE CHAN - TRUSTEE

Charity No: 1182213

The notes on pages 22 to 43 form part of these financial statements.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

STATEMENT OF CASH FLOWS AND CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31ST DECEMBER 2023

2023 2022 £ £ (30,009) 487,369 25,206 5,351 64,071 (678,778) - - 4,022 1,503 Group	2023 2022 £ £ (30,009) 487,369 25,206 5,351 64,071 (678,778) - - 4,022 1,503 Group	2023 2022 £ £ (103,794) 275,480 25,206 5,351 (5,516) (5,973) 329,862 (511,185) - - 349,552 (511,807) 245,758 (236,327) 2,471,670 2,707,997 Charity
93,299	(671,924)

63,290	(184,555)
2,941,083	3,125,638
3,004,373	2,941,083	2,717,428 2,471,670

Reconciliation of net movement in funds to net cashflow from operating activities:

Cash flows from operating activities Net movement in funds Add back depreciation Less minority interest Deduct interest income shown in investment activities (Increase) / decrease in debtors (Decrease) / increase in creditors Net cash generated from operating activities	2023 2022 £ £ (330,639) (270,329) 345,098 349,866 (3,292) (3,840) (25,206) (5,351) (10,459) 441,506 (5,511) (24,483) Group	2023 2022 £ £ (330,639) (270,329) 345,098 349,866 (3,292) (3,840) (25,206) (5,351) (10,459) 441,506 (5,511) (24,483) Group	2023 2022 £ £ (45,027) 217,076 5,227 5,085 - - (25,206) (5,351) 17,552 13,453 (56,341) 45,218 (103,794) 275,480 Charity
	(30,009)	487,369

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

STATEMENT OF CASH FLOWS AND CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31ST DECEMBER 2023

Analysis of change in net debt Net Cash Cash at bank and in hand Debts Debts falling due within one year Debts falling due after one year Total Net Cash Cash at bank and in hand Debts Debts falling due within one year Debts falling due after one year Total	At 01 January 2023 2,941,083	Cashflow At 31 December 2023 63,290 3,004,373 63,290 3,004,373 - 38,591 - - - 38,591 63,290 3,042,963 Cashflow At 31 December 2023 245,758 2,717,428 245,758 2,717,428 - 38,591 - - - 38,591 245,758 2,756,019 Charity Group
	2,941,083 38,591 -
	38,591
	2,979,674
	At 01 January 2023 2,471,670
	2,471,670 38,591 -
	38,591
	2,510,261

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

1.1 Basis of preparation of accounts

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements 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 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities(Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from April 2005 which has since been withdrawn

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The trust constitutes a public benefit entity as defined by FRS 102.

1.2 Preparation of accounts on a going concern basis

The Group’s Financial Statements show net deficit for the year of £330,639 (2022 - deficit of £270,329) and free reserves of £657,698 (2022- £576,378).

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. Trustees will continue to monitor and ensure spending to be done in line with income in order to maintain target level of reserves. The review of cashflow for 12 months from the date of approval of the financial statements, the associated assumptions that underpin it, secured new income and the steps that could be taken to reduce expenditure should this be necessary. We reviewed the reserve policy and available free reserves as well as modelled scenarios for actual and budgeted results to understand the impact of various income and expenditure.

Based on the information above, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future and will remain surplus in future periods. Therefore, the trustees have adopted the going concern basis in preparing these accounts.

1.3 Group financial statements

The group financial statements consolidate the accounts of World Community for Christian Meditation (WCCM) and an organisation under its control L’Association Pour La Défense, La Promotion et La Protection De La Culture (The Association) and its subsidiary Société Civile Immobilière in which the Association has a 99% share (the “SCI”).

All financial statements are prepared to 31 December 2023. Where necessary, the adjustments are made to the financial statements of the subsidiary to bring the accounting policies used into line with those used by the charity.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.4 Income recognition

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and amount can be measured reliably.

(a) Income received by way of donations and grants are included in full in the Statement of Financial Activities when received, unless they relate to a specified future period, in which case they are deferred.
(b) Legacies entitlement is taken as the earlier of the date on which either: the charity is aware that the probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that the distribution is made, or when a distribution is received from the estate.
(c) Revenue grants are credited to income on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.
(d) Capital grants for the purchase of fixed assets are credited to restricted income on the earlier date of when they are received or receivable. Deprecation on the related fixed assets is charged against the restricted fund.
(e) Grants and donations of general nature which are not conditional on delivering certain levels of service are included as part of Grants, Donations and Legacies as shown under note 2. Performance related grants and donations which have conditions for a specific outcome are included as Income from Charitable Activities as shown in Note 3.
(f) Retreats, events and courses income are recognised as earned (as the related goods and services are provided) under contract. Income received in advance for the subsequent year is recognised as deferred income until the following year.
(g) Resources income is recognised as earned (that is, as the related goods or services are provided).
(h) Rental income are credited to incoming resources in the year in which they are received, as in practice this represents a receivable basis.
(i) Investment income is included when receivable.
1.5

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refers to the trustees’ annual report for more information about their contribution. There were no donated services or facilities during the year except volunteer time.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.6 Expenditure recognition and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

(a) Cost of raising funds comprises costs of seeking donations, legacies and grants and their associated support costs.
(b) Expenditure on charitable activities include expenditure associated with the main objectives of the Charity and include both directs costs and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

1.7 Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Trust’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 11.

1.8 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust’s work or for specific projects being undertaken by the Trust.

1.9 Operating leases

The charity classifies the lease of property as an operating lease. The rentals are charged to the Statement of Financial Activities on a straight-line basis over the lease duration. No assets are held under hire purchase agreements.

1.10 Tangible fixed assets and depreciation

Individual fixed assets costing £500 or more are capitalised at cost and depreciated over their estimated useful economic lives on strait line basis as follows:

Asset Category Annual rate Fixtures, fittings and equipment (charity) - 25% on cost Computer equipment (charity) - 25% on cost Motor vehicles (charity) - 25% on cost Building and installations (subsidiary) - Given the complex nature of the various components of these structures, a method known as component depreciation is applied.

Assets under construction are not depreciated unless they are completed and transferred to Fixed Assets.

1.11 Fixed asset investment

The fixed asset Investment is in the form of a programme related investment to the subsidiary entity, by providing an interest free loan, which was converted into a contribution with takeover rights “Equity capital with a right of takeover” in 2020, in order to directly further the charitable purposes of the Charity. Details of the loan and equity are set out in note 16.

The loan and equity are initially recognised at the amounts paid, with the carrying amount adjusted in subsequent years to reflect repayments and adjusted, if necessary, for any impairment and exchange gains and losses.

1.12 Stock

Stock is included at the lower of cost or net realisable value.

1.13 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.14 Cash at bank and in hand

Cash at bank and in hand includes cash deposits and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

1.15 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.16 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.17 Foreign currency transactions

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities.

1.18 Taxation

WCCM is a registered charity and is exempt within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

1.19 Pension Costs

The charity operates a contributory defined contribution pension scheme, the assets of which are held separately from those of the charity. Pension costs are charged to the SOFA in the period to which they relate.

1.20 Judgement and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, be definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying a mounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

(ii) Allocation of shared cost between multiple activities

Support costs relate to those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. All the general support and governance costs are allocated to activities at different percentages, on the basis of staff time relating to each activity.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

2. GRANTS, DONATIONS AND LEGACIES – GROUP AND CHARITY

Dalio Family Fund, INC. WCCM - Australia WCCM - Canada WCCM - New Zeland WCCM - Hong Kong WCCM - USA WCCM - UK WCCM - Mexico Donations - Director's Travel Other Individual Donations Donations - Bonnevaux Project Costs	Unrestricted £ 55,775 3,422 - 2,953 6,300 12,503 7,000 403 5,547 521,660 - 615,563	Restricted £ 265,637 - - - - - - - - 67,206 425,561 758,404	2023 2022 £ £ 321,412 338,825 3,422 5,067 - 4,082 2,953 - 6,300 2,056 12,503 22,341 7,000 40,000 403 - 5,547 19,252 588,866 226,228 425,561 270,047 1,373,967 927,898

Of the total Grants, donations and legacies income in 2022 of £927,898, £551,745 was attributed to restricted funds and £376,153 was attributed to unrestricted funds.

3. INCOME FROM CHARITABLE ACTIVITIES – GRANTS AND DONATONS – GROUP AND CHARITY

The Meditatio Foundation The Trust for the Meditation Process	Unrestricted £ - - -	Restricted £ - 23,281 23,281	2023 2022 £ £ - 5,958 23,281 25,008 23,281 30,966

Income from charitable activities 2022 totaling £30,966, £25,008 was attributed to restricted funds and £5,958 was attributed to unrestricted funds.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

4. RETREATS, EVENTS AND COURSES – GROUP AND CHARITY

Donations - Events Charitable Activities - Monte Oliveto Retreat Charitable Activities - TSOM Online Course Website - WCCM Online Events Charitable Activities - Meditatio Events & Seminars Charitable Activities - Meditatio Centre Events Charitable Activities - Asian Retreat WCCM Academy Income	Unrestricted £ - 26,201 4,768 114,416 320 23,241 5,271 57,347 231,564	Restricted £ - - - - - - - - -	2023 2022 £ £ - 3,077 26,201 19,978 4,768 3,525 114,416 102,360 320 2,610 23,241 21,782 5,271 - 57,347 - 231,564 153,332

The retreat, event and course income in 2022 totaling £153,332 was attributed to unrestricted funds.

5. RESOURCE SALES – GROUP AND CHARITY

Royalties-Resource sale Fund Generation - Book Shop Meditatio Centre Fund Generation - Books with royalties Fund Generation - Book Shop eStore Fund Generation - Books Meditatio Publications	Unrestricted £ 4,920 4,475 603 - 3,279 13,277	Restricted £ - - - - - -	2023 2022 £ £ 4,920 200 4,475 10,499 603 156 - 238 3,279 6,239 13,277 17,332

The resource sales income in 2022 totaling £17,332 was attributed to unrestricted funds.

6. OTHER TRADING ACTIVITIES – GROUP AND CHARITY

i) Group Royalties Rent	Unrestricted £ - 17,947 17,947	Restricted £ - 139,608 139,608	2023 2022 £ £ - 5,542 157,555 147,091 157,555 152,633

Of the total other trading income of £152,633 in 2022, £135,578 was attributed to restricted funds and £17,055 was attributed to unrestricted funds.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

6. OTHER TRADING ACTIVITIES – GROUP AND CHARITY (continued)

ii) Charity Royalties Rent	Unrestricted £ - 17,947 17,947	Restricted £ - - -	2023 2022 £ £ - 5,542 17,947 11,513 17,947 17,055

The other trading income in 2022 totaling £17,055 was attributed to unrestricted funds.

7. INVESTMENT INCOME – GROUP AND CHARITY

Interest on cash deposits	Unrestricted £ 25,206 25,206	2023 2022 £ £ 25,206 5,351 25,206 5,351

The investment income in 2022 totaling £5,351 was attributed to unrestricted funds.

8. NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY

The subsidiary, L’Association pour la défense, la promotion et la protection de la culture, was created under the French 1901 Act, on December 5th 2016, declared with the Prefecture of the Rhône, registered number W691091689.

The principal activity of the Association is to “Carry out any project aiming at preserving, promoting and developing the culture under whatever form, including the French architectural heritage, in a spirit of openness”.

The Association was formed for the creation of an international centre dedicated to retreats and meditation in France, more specifically on the site of the Bonnevaux Abbaye at Marcay (Vienne) (86370), Domaine de Bonnevaux. In this regard, WCCM raised funds from donors with a view to support the creation of such a project.

The Association is willing to support the realisation of the project and for this purpose has purchased the site of the Bonnevaux Abbaye at Marcay (Vienne) (86370), Domaine de Bonnevaux, through a Société Civile Immobilière in which the Association has a 99% share (the “SCI”). The Association has asked WCCM, which has raised the necessary funds, for assistance in order to finance the purchase and refurbishment of the property.

WCCM controls the Association by means of controlling its board of management. The Association does not trade. Its function is to hold the property as an asset of the Community, on behalf of WCCM. The financial statements of The Association for the period to 31st December 2023 have been filed with the French authorities.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

8. NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY (continued)

A summary of results of the Association for the year ended 31[st] December 2023 is shown below:

Summary Profit And Loss Account:

Particulars 2023 2022 Income 139,607 135,578 Direct and administration costs (634,102) (959,664) Net loss (494,495) (824,086) The assets and liabilities of the subsidiary were: Particulars 2023 2022 Fixed assets 7,416,740 7,826,198 Current assets 344,851 499,309 Current liabilities (139,621) (88,792) Total net assets (liabilities) 7,621,970 8,236,715 Charity share capital and reserves (2,559,535) (2,068,973) Equity capital with a right of takeover 10,184,705 10,309,617 Minority interest (3,200) (3,929) Aggregate share capital and reserves 7,621,970 8,236,715 9. COST OF RAISING FUNDS – GROUP AND CHARITY i) Group Funds 2023 2022 £ £ £ Staff costs 45,334 45,334 40,801 Other fund raising costs 2,568 2,568 2,335 General support costs (Part of Note 11 Administrative Staff cost) 16,460 16,460 15,038 Governance costs (Note 11) - - 440 64,362 64,362 58,614 ii) Charity Raising Funds 2023 2022 £ £ £ Staff costs 45,334 45,334 40,801 Other fund raising costs 2,568 2,568 2,335 General support costs (Part of Note 11 Administrative Staff cost) 16,460 16,460 15,038 Governance costs (Note 11) - - 440 64,362 64,362 58,614	Particulars 2023 2022 Income 139,607 135,578 Direct and administration costs (634,102) (959,664) Net loss (494,495) (824,086) The assets and liabilities of the subsidiary were: Particulars 2023 2022 Fixed assets 7,416,740 7,826,198 Current assets 344,851 499,309 Current liabilities (139,621) (88,792) Total net assets (liabilities) 7,621,970 8,236,715 Charity share capital and reserves (2,559,535) (2,068,973) Equity capital with a right of takeover 10,184,705 10,309,617 Minority interest (3,200) (3,929) Aggregate share capital and reserves 7,621,970 8,236,715 9. COST OF RAISING FUNDS – GROUP AND CHARITY i) Group Funds 2023 2022 £ £ £ Staff costs 45,334 45,334 40,801 Other fund raising costs 2,568 2,568 2,335 General support costs (Part of Note 11 Administrative Staff cost) 16,460 16,460 15,038 Governance costs (Note 11) - - 440 64,362 64,362 58,614 ii) Charity Raising Funds 2023 2022 £ £ £ Staff costs 45,334 45,334 40,801 Other fund raising costs 2,568 2,568 2,335 General support costs (Part of Note 11 Administrative Staff cost) 16,460 16,460 15,038 Governance costs (Note 11) - - 440 64,362 64,362 58,614	2023 2022 139,607 135,578 (634,102) (959,664) (494,495) (824,086) 2023 2022 7,416,740 7,826,198 344,851 499,309 (139,621) (88,792) 7,621,970 8,236,715 (2,559,535) (2,068,973) 10,184,705 10,309,617 (3,200) (3,929) 7,621,970 8,236,715	2023 2022 139,607 135,578 (634,102) (959,664) (494,495) (824,086) 2023 2022 7,416,740 7,826,198 344,851 499,309 (139,621) (88,792) 7,621,970 8,236,715 (2,559,535) (2,068,973) 10,184,705 10,309,617 (3,200) (3,929) 7,621,970 8,236,715

			2023 2022 £ £ 45,334 40,801 2,568 2,335 16,460 15,038 - 440 64,362 58,614 2023 2022 £ £ 45,334 40,801 2,568 2,335 16,460 15,038 - 440 64,362 58,614
	Funds £ 45,334 2,568 16,460 - 64,362 Raising Funds £ 45,334 2,568 16,460 - 64,362

Of the £64,362 expenditure in 2023 (2022- £58,614), £64,362 was charged to unrestricted funds (2022 - £58,614) and £nil to restricted funds (2022- £Nil).

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

10. EXPENDITURE ON CHARITABLE ACTIVITIES – GROUP AND CHARITY

i) Group Staff costs Retreats, events and courses Publicity Volunteers expenses Information technology and web development Premises and equipment Contribution to Association de Bonnevaux pour la Paix Other direct costs General support costs (Note 11) Governance costs (Note 11) Foreign exchange (gains) / losses (Note 11) Exchange rate variance (Note 11)	Meditatio Centre £ 23,404 14,093 3,132 24 1,084 27,640 - 6,807 4,425 - -	Retreats, Events & Courses £ 9,361 21,822 - 17,121 - - - 125,447 14,872 - -	International Community Support £ 85,061 10,695 69,887 3,489 127,940 728 - 342,180 33,159 25,970 (1,423)	Bonnevaux Retreat Centre £ 43,189 - - - - 427,940 191,394 194,248 6,680 13,555 -	Resources £ - - - - - - - 47,363 66,674 - -	2023 2022 £ £ 161,015 162,180 46,610 40,684 73,019 59,745 20,634 17,397 129,024 96,901 456,308 515,440 191,394 314,103 716,045 607,500 125,810 144,961 39,525 35,715 (1,423) (11,078) (45,695) (30,577) 1,912,264 1,952,971
	80,609	188,623	697,686	877,006	114,037

(2022: 1,400,469) to restricted funds.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

10. EXPENDITURE ON CHARITABLE ACTIVITIES – GROUP AND CHARITY (continued)

ii) Charity Staff costs Retreats, events and courses (expenses) Publicity Volunteers expenses Information technology and web development Premises and equipment Other direct costs General support costs (Note 11) Governance costs (Note 11) Foreign exchange (gains) / losses (Note 11) Exchange rate variance (Note 11)	Meditatio Centre £ 23,404 14,093 3,132 24 1,084 27,640 6,807 4,425 - -	Retreats, Events & Courses £ 9,361 21,822 - 17,121 - - 125,447 14,872 - -	International Community Support £ 85,061 10,695 69,887 3,489 127,940 728 342,180 33,159 25,970 (1,423)	Bonnevaux Retreat Centre £ 18,820 - - - - 137 187,594 - - -	Resources £ - - - - - - 47,363 66,674 - -	2023 2022 £ £ 136,646 141,565 46,610 40,684 73,019 59,745 20,634 17,397 129,024 96,901 28,505 30,452 709,391 602,888 119,130 139,407 25,970 14,727 (1,423) (11,078) (45,695) (30,577) 1,241,811 1,102,111
	80,609	188,623	697,686	206,551	114,037

Of the £1,241,811 expenditure in 2023 (2022: 1,102,111), £757,586 (2022: 552,502) was charged to unrestricted funds and £484,225 (2022: 549,609) to restricted funds.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

10. EXPENDITURE ON CHARITABLE ACTIVITIES – GROUP AND CHARITY (continued) – previous year

----- Start of picture text -----
i) Group Retreats, International Bonnevaux
Meditatio Events & Community Retreat
Centre Courses Support Centre Resources 2022 2021
£ £ £ £ £ £ £
Staff costs 21,935 8,774 91,338 40,133 - 162,180 135,487
Retreats, events and courses 11,911 24,589 4,184 - - 40,684 18,029
Publicity 8,385 4,463 38,442 8,455 - 59,745 69,385
Volunteers expenses 120 13,491 3,786 - - 17,397 3,701
Information technology and web development 1,784 - 65,054 11,497 18,566 96,901 88,632
Premises and equipment 12,830 - 17,485 485,125 - 515,440 248,145
Contribution to Association de Bonnevaux
pour la Paix - - - 314,103 - 314,103 60,385
Other direct costs 14,124 268,509 247,173 22,861 54,833 607,500 393,317
General support costs (Note 11) 3,110 5,428 47,391 7,766 81,266 144,961 262,928
Governance costs (Note 11) - - 14,727 20,988 - 35,715 42,618
Foreign exchange (gains) / losses (Note 11) 537 - (11,615) - - (11,078) -
Exchange rate variance (Note 11) (30,577) 115,686
74,736 325,254 517,965 910,928 154,665 1,952,971 1,438,313
----- End of picture text -----

Out of the £1,952,971 expenditure in 2022 (2021 - £1,438,313), £552,502 (2021 - £564,234) was charged to unrestricted funds and £1,400,469 (2021 - £874,079) to restricted funds .

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

10. EXPENDITURE ON CHARITABLE ACTIVITIES – GROUP AND CHARITY (continued) – previous year

ii) Charity Staff costs Retreats, events and courses (expenses) Publicity Volunteers expenses Information technology and web development Premises and equipment Other direct costs General support costs (Note 11) Governance costs (Note 11) Foreign exchange (gains) / losses (Note 11) Exchange rate variance (Note 11)	Meditatio Centre £ 21,935 11,911 8,385 120 1,784 12,830 14,124 3,110 - 537	Retreats, Events & Courses £ 8,774 24,589 4,463 13,491 - - 268,509 5,428 - -	International Community Support £ 91,338 4,184 38,442 3,786 65,054 17,485 247,173 47,391 14,727 (11,615)	Bonnevaux Retreat Centre £ 19,518 - 8,455 - 11,497 137 18,249 2,212 - -	Resources £ - - - - 18,566 - 54,833 81,266 - -	2022 2021 £ £ 141,565 116,296 40,684 18,029 59,745 69,385 17,397 3,701 96,901 88,632 30,452 28,939 602,888 388,682 139,407 208,742 14,727 42,618 (11,078) (30,577) 115,686 1,102,111 1,080,710
	74,736	325,254	517,965	60,068	154,665

Of the £1,102,111 expenditure in 2022 (2021 - £1,080,710), £552,502 (2021 - £564,234) was charged to unrestricted funds and £549,609 (2021 - £516,476) to restricted funds.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

11. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS – GROUP AND CHARITY

The Charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between the charity’s seven key activities undertaken (see note 9 and 10) in the year. All the general support and governance costs have been apportioned to the various charitable activities on the basis of a proportion of direct costs, allocated to each activity.

i) Group Administrative staff costs Management staff Premises and equipment Communications costs Information technology Legal and professional costs Bank charges Foreign exchange (gains) / losses Other expenses Foreign taxation Minority interests Audit fees Board and trustees expenses	General support £ 68,384 14,750 8,365 5,155 7,780 12,758 14,181 (47,117) 4,228 9,959 (3,292) - -	Governance function £ - - - - - 13,555 - - - - - 17,160 8,810	2023 £ 68,384 14,750 8,365 5,155 7,780 26,313 14,181 (47,117) 4,228 9,959 (3,292) 17,160 8,810	General support £ 81,661 14,536 8,161 6,771 23,634 7,233 9,238 (41,655) 3,433 9,173 (3,840) - -	Governance function 2022 £ £ - 81,661 - 14,536 - 8,161 - 6,771 440 24,074 20,988 28,221 - 9,238 - (41,655) - 3,433 - 9,173 - (3,840) 12,600 12,600 2,127 2,127
	95,151	39,525	134,676	118,345	36,155 154,500

ii) Charity Administrative staff costs Management staff Premises and equipment Communications costs Information technology Legal and professional costs Bank charges Foreign exchange (gains) / losses Other expenses Audit fees Board and trustees expenses	General support £ 68,384 14,750 8,365 5,155 7,780 12,758 14,181 (47,117) 4,215 - -	Governance function £ - - - - - - - - - 17,160 8,810	2023 £ 68,384 14,750 8,365 5,155 7,780 12,758 14,181 (47,117) 4,215 17,160 8,810	General support £ 81,661 14,536 8,161 6,771 23,634 7,233 9,238 (41,655) 3,212 - -	Governance function 2022 £ £ - 81,661 - 14,536 - 8,161 - 6,771 440 24,074 - 7,233 - 9,238 - (41,655) - 3,212 12,600 12,600 2,127 2,127
	88,471	25,970	114,441	112,791	15,167 127,958

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

12. NET INCOME / (EXPENDITURE) FOR THE YEAR

This is stated after charging:

NET INCOME / (EXPENDITURE) FOR THE YEAR This is stated after charging:
	Charity	Group	Charity	Group
	2023	2023	2022	2022
	£	£	£	£
Depreciation of tangible fixed assets	5,227	345,098	5,085	349,866
Operating leases - rent	24,120	24,120	24,120	24,120
Auditors’ remuneration – audit of financial statements	15,160	15,160	10,600	10,600
Auditors’ remuneration – payroll and consultancy	2,000	2,000	2,000	2,000

13. ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL

STAFF COSTS Salaries National Insurance Pension	Charity Group Charity Group 2023 2023 2022 2022 £ £ £ £ 235,826 260,194 246,903 267,519 19,915 19,915 21,850 21,850 9,375 9,375 9,809 9,809 265,115 289,484 278,563 299,178

The number of employees whose total employee benefits excluding pension contributions earning over £60,000, classified within bands of £10,000 is as follows:

classified within bands of £10,000 is as follows:
	2023	2022
£60,000-£69,999	-	1
£70,000-£79,999	3	2
£80,000-£89,999	1	1

During the period Fr. Laurence Freeman, one of the Trustees, was paid a salary of £83,181 (2022 - £78,362). This remuneration has been agreed with the Charity Commission and a provision in the Charity’s Constitution. No other trustee received any remuneration.

During the year expenses totalling £15,103 (2022 - £16,267) were paid on behalf of Trustees or reimbursed to Trustees relating to the repayment of motor, travel and telephone expenses.

The key management personnel of the charity comprise the trustees, the Chief Executive Officer, Programme Director and Head of Operations. The total employee benefits of the key management personnel of the charity were £235,381 (2022 - £250,897). The total employee benefits of the key management personnel of the charity for the year 2022 have been restated as in previous year employer contribution for pension and social securities for subsidiary entity were omitted.

14. STAFF NUMBERS

The average monthly head count was 6 (2022 - 7) for the charity and 10 (2022 - 12) for the group and the average monthly number of full time staff based on full time equivalents employed by the charity including part time and temporary staff employed on holiday schemes during the period was as follows:

Administration Charitable activities	2023 2023 2022 2022 1 1 2 2 5 9 5 10 6 10 7 12

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

15. TANGIBLE FIXED ASSETS – GROUP AND CHARITY

----- Start of picture text -----
i) Group
2023 2022
Net book value: £ £
Freehold land and building 7,128,658 7,594,751
Fixtures, fittings and equipment 141,714 175,266
Motor vehicles 1 1
Assets under construction 156,664 66,189
7,427,037 7,836,207
Movements in the year:
Cost: Additions/
Opening (Disposals)/ Disposal/ Closing
Balances Transfers fx difference Balances
£ £ £ £
Freehold land and building 8,346,089 - (177,372) 8,168,717
Fixtures, fittings and equipment 242,735 10,370 (4,669) 248,435
Motor vehicles 1 - - 1
Assets under construction 66,189 91,881 (1,406) 156,664
8,655,014 102,251 (183,447) 8,573,817
Depreciation: Charge
for the year /
Opening (Elimination Impairment/ Closing
Balances on disposal) fx difference Balances
£ £ £ £
Freehold land and building 751,338 304,688 15,967 1,040,059
Fixtures, fittings and equipment 67,469 40,410 1,158 106,721
Motor vehicles - - - -
818,807 345,098 17,125 1,146,780
ii) Charity
2023 2022
Net book value: £ £
Fixtures, fittings and equipment 10,296 10,008
Motor vehicles 1 1
10,297 10,009
Movements in the year:
Cost: Opening Closing
Balances Additions Disposals Balances
£ £ £ £
Fixtures, fittings and equipment 23,065 5,516 - 28,580
Motor vehicles 1 - - 1
23,066 5,516 - 28,581
Depreciation: Opening Charge Closing
Balances For Year Disposals Balances
£ £ £ £
Fixtures, fittings and equipment 13,057 5,227 - 18,284
Motor vehicles - - - -
13,057 5,227 - 18,284
----- End of picture text -----

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

16. INVESTMENT – GROUP AND CHARITY

Balance as at 1st January Additions Foreign exchange gains/(losses) Unrealised deficit on investment in subsidiary Balance as at 31st December	2023 2022 £ £ - - - - - - - - - - Group	2023 2022 £ £ 9,407,917 8,896,732 94,234 285,318 (219,146) 560,958 (204,950) (335,091) 9,078,055 9,407,917 Charity

An interest free inter-group loan of € 8,415,000 for 10 years from 26[th] January 2017 was given by WCCM to its subsidiary L’Assoçiation Pour La Defence,La Promotion Et La Protection De La Çulture “The Association”. The loan was only for the purpose of acquiring and improving/renovating (including expenses related to this purpose) the land and buildings of Bonneaux Abbaye, Marcay (Vienne) (86370), Domaine de Bonnevaux, through a Societe Civile Immobiliere in which the association has a 99% share, to be used as an international retreat centre for Christian Meditation. The loan was to be repaid according to the evaluation of the borrower’s cash flow, in one or more instalments, and on the final maturity date at the latest.

In 2020, the WCCM had decided to waive the loan granted to the Association by converting all of its claims into a contribution with takeover rights under the following conditions.

1) In consideration of this contribution, The Association commits to:
to use this contribution in accordance with its corporate purpose;
to provide the WCCM with regular information on its cash position and to send it its annual accounts within one month of their approval;
to provide the WCCM with any documents and respond to any request for information that the WCCM may deem useful concerning its financial situation and activities.
2) The Association will return to the WCCM the sum contributed equal to its face value, undiscounted:
or in the event of non-compliance with the counterparties listed in 1) above
or in the event of a return to better fortune allowing him to reimburse the sums contributed,
or in the event of dissolution, cessation or transfer of its activity in any form whatsoever (contribution, merger, assignment, etc.).

The takeover of the contribution must take place at the latest within three months of the establishment of the event giving rise to the right of takeover, within the limit, however, as is the rule in the case of outright contributions, of its available assets.

3) The Association will own the money contributed from this day forward. It will be subrogated in all rights and obligations attached to this sum as from the same day and will therefore no longer owe any sum to the WCCM.

17. DEBTORS

Trade debtors Other debtors Prepayments	2023 2022 £ £ 51,523 43,782 29,541 26,228 6,521 7,116 87,585 77,126 Group	2023 2022 £ £ 20,426 37,375 2,731 2,739 6,521 7,116 29,678 47,230 Charity

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

18. CASH AT BANK AND IN HAND

The cash at bank of £3,004,373 at 31 December 2023 (2022 : 2,941,083) includes bank balances totaling £96,590 (2022 : 2,671,733) held in trust on behalf of the CIO by the previous Unincorporated Charity of the same name, charity number 327173

19. CREDITORS: Amounts falling due within one year

2023 2022 £ £ Trade creditors 78,377 165,948 Taxation and social security costs 6,956 5,608 Deferred income (note 21) 2,858 14,323 Other creditors 107,512 29,476 Accruals 27,023 12,882 Loans 38,591 38,591 261,317 266,828 Group 20. MOVEMENT IN FUNDS – GROUP AND CHARITY i) Group Balance as at 01.01.23 Income Expenditure £ £ £ Restricted Funds: Subcontract Staff Costs 17,231 73,563 90,794 WCCM Leadership Fund 141,687 192,074 209,846 Dalio Resources Development Fund 70,018 - 44,609 TMF - Bonnevaux Salaries 18,984 - 18,984 TMF - MOOC Fund - 58,847 27,165 Building Capacity 39,253 - 9,529 TMP Outreach Grant 9,945 31,640 37,955 Archive Fund 5,000 - - Group's Fund 5,064 - - Donations - Bonnevaux Project 9,607,328 565,169 708,068 Donations - Bonnevaux Scholarships 99,383 - 7,730 10,013,893 921,293 1,154,678 Unrestricted Funds 586,387 903,557 821,948 Total Funds 10,600,280 1,824,850 1,976,626	2023 2022 £ £ 78,377 165,948 6,956 5,608 2,858 14,323 107,512 29,476 27,023 12,882 38,591 38,591 261,317 266,828 Group	2023 2022 £ £ 78,377 165,948 6,956 5,608 2,858 14,323 107,512 29,476 27,023 12,882 38,591 38,591 261,317 266,828 Group
		266,828


Balance as at 01.01.23 £ 17,231 141,687 70,018 18,984 - 39,253 9,945 5,000 5,064 9,607,328 99,383	Income £ 73,563 192,074 - - 58,847 - 31,640 - - 565,169 -	Expenditure £ 90,794 209,846 44,609 18,984 27,165 9,529 37,955 - - 708,068 7,730	Gains / Balance as (Losses) Transfers at 31.12.23 £ £ £ - - - - - 123,915 - - 25,409 - - - - - 31,682 - - 29,724 - - 3,630 - - 5,000 - - 5,064 (178,863) - 9,285,566 - - 91,653
10,013,893	921,293	1,154,678	(178,863) - 9,601,645
586,387	903,557	821,948	- - 667,996
10,600,280	1,824,850	1,976,626	(178,863) - 10,269,641

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

20. MOVEMENT IN FUNDS – GROUP AND CHARITY (continued)

ii) Charity Restricted Funds: Subcontract Staff Costs WCCM Leadership Fund Dalio Resources Development Fund TMF - Bonnevaux Salaries WCCM Academy p Building Capacity TMP Outreach Grant Archive Fund Group's Fund Donations - Bonnevaux Project Donations - Bonnevaux Scholarships ` Unrestricted Funds Total Funds	Balance as at 01.01.23 £ 17,231 141,687 70,018 18,984 - 39,253 9,945 5,000 5,064 10,774,600 99,383	Income £ 73,563 192,074 - - 58,847 - 31,640 - - 425,561 -	Expenditure £ 90,794 209,846 44,609 18,984 27,165 9,529 37,955 - - 37,614 7,730	Gains / Balance as (Losses) Transfers at 31.12.23 £ £ - - - - - 123,915 - - 25,409 - - - - - 31,682 - - 29,724 - - 3,630 - - 5,000 - - 5,064 (424,096) - 10,738,452 - - 91,653
	11,181,166	781,685	484,225	(424,096) - 11,054,530
	586,387	903,557	821,948	- - 667,996
	11,767,553	1,685,242	1,306,173	(424,096) - 11,722,526

Movement in funds – previous	year			Gains / Balance as (Losses) Transfers at 31.12.22 £ £ £ - - 17,231 - - 141,687 - - 70,018 - - 18,984 - - - - - - - - - - - 39,253 - - 9,945 - - 5,000 - - 5,064 453,744 - 9,607,328 - - 99,383 453,744 - 10,013,893 - - 586,387 453,744 - 10,600,280
i) Group Restricted Funds: Subcontract Staff Costs WCCM Leadership Fund Dalio Resources Development Fund TMF - Bonnevaux Salaries TMF - MOOC Fund Meditation Workshops and Retreats WCCM Academy/ Youth Work Building Capacity TMP Outreach Grant Archive Fund Group's Fund Donations - Bonnevaux Project Donations - Bonnevaux Scholarships Unrestricted Funds Total Funds	Balance as at 01.01.22 £ 3,641 160,350 153,731 40,260 3,212 5,143 21,622 95,357 - 5,000 5,064 9,652,193 102,714	Income £ 81,237 200,461 - - - - - - 25,008 - - 405,625 -	Expenditure £ 67,647 219,124 83,713 21,276 3,212 5,143 21,622 56,104 15,063 - - 904,234 3,331
	10,248,287	712,331	1,400,469
	622,322	575,181	611,116
	10,870,609	1,287,512	2,011,585

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

20. MOVEMENT IN FUNDS – GROUP AND CHARITY (continued) – previous year

Balance as at 01.01.22 £ 3,641 160,350 153,731 40,260 3,212 5,143 21,622 95,357 - 5,000 5,064 10,332,060 102,714	Income £ 81,237 200,461 - - - - - - 25,008 - - 270,047 -	Expenditure £ 67,647 219,124 83,713 21,276 3,212 5,143 21,622 56,104 15,063 - - 53,374 3,331	Gains / Balance as (Losses) Transfers at 31.12.22 £ £ - - 17,231 - - 141,687 - - 70,018 - - 18,984 - - - - - - - - - - - 39,253 - - 9,945 - - 5,000 - - 5,064 225,867 - 10,774,600 - - 99,383
10,928,155	576,753	549,609	225,867 - 11,181,166
622,322	575,181	611,116	- - 586,387
11,550,477	1,151,934	1,160,725	225,867 - 11,767,553

Description, nature and purpose of restricted funds:

Subcontract staff costs are funds provided by Dalio Family Fund, Inc. to be spent on administration support costs for the Director.

WCCM Leadership Fund received from Dalio Family Fund, Inc. towards leadership community and succession planning.

Dalio Resources Development Fund was received for the digitlisation of the WCCM’s teaching resources.

TMF – Bonnevaux Salaries was contribution received from The Meditatio Foundation for paying staff salaries.

TMF – MOOC Fund was contribution received from The Meditatio Foundation for paying Contractor’s Costs.

Meditation workshops and retreats grant received from The Trust for Meditation Process towards Essential Teaching workshops and short retreats for representatives from 21 smaller nations around the world.

WCCM academy/ youth work funds from a late received grant in 2021 were carried over to 2022 with the agreement of the donor and applied to pay salary and other costs of the development of our Bonnevaux Academy, and to the salary and associated costs of our youth work.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Building Capacity grant received from Stiftung Axilium towards building capacity and reach of Christian meditation teaching.

TMP Outreach Grant was used to cover some of the costs of the Bonnevaux Special Projects Manager, who worked closely with Fr. Laurence that year and for Salary Costs for our China Outreach Worker.

Archive Fund originally represented a £10,000 donation received for the purpose of technical improvement and preservation of the original cassettes of John Main’s talks. The balance of £5,000 will be utilised in preserving other works in future years.

Group’s Fund represents donations towards establishing groups within the developing world.

Donations - Bonnevaux project represents donations received towards the costs of acquiring, renovating and supporting the operations of a retreat centre in France. The Charity purchased the property, through a French organization under the charity’s control for this purpose. The expenditure charged against this fund represents the exchange gain of £424,096 on translation of the subsidiary investment at the foreign exchange rate and of Bonnevaux property related costs of £37,614

Donations - Bonnevaux scholarships fund represents funds received towards providing scholarships to attend the retreat centre in Bonnevaux.

Description, nature and purpose of unrestricted funds:

General fund represents funds available to spend at the discretion of the Trustees.

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

i) Group Tangible fixed assets Net current assets Minority interest ii) Charity Tangible fixed assets Investment - Social investment Net current assets	Unrestricted £ 10,297 657,698 - 667,996 Unrestricted £ 10,297 - 657,698 667,996	Restricted Total £ £ 7,416,740 7,427,037 2,184,905 2,842,604 (3,200) (3,200) 9,598,445 10,266,441 Restricted Total £ £ - 10,297 9,078,055 9,078,055 1,976,475 2,634,174 11,054,530 11,722,526

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

21. Analysis of Net Assets between Funds (continued) – Previous Year

i) Group Tangible fixed assets Net current assets Minority interest ii) Charity Tangible fixed assets Investment - Social investment Net current assets	Unrestricted £ 10,009 576,378 - 586,387 Unrestricted £ 10,009 - 576,378 586,387	Restricted Total £ £ 7,826,198 7,836,207 2,187,695 2,764,073 (3,929) (3,929) 10,009,964 10,596,351 Restricted Total £ £ - 10,009 9,407,917 9,407,917 1,773,249 2,349,627 11,181,166 11,767,553

22. DEFERRED INCOME – GROUP AND CHARITY

Balance as at 1st January Amount released to income in the year Amount deferred in the year Balance as at 31st December	2023 2022 £ £ 14,323 14,917 (14,323) (14,917) 2,858 14,323 2,858 14,323

Deferred Income represents donation for 2024 received in advance.

23. OPERATING LEASE COMMITMENTS

Rent Within 1 years Within 2 - 5 years	2023 2022 £ £ 26,568 22,800 79,704 - 106,272 22,800

The charity has operating lease commitments relating to its office premises.

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

NOTES TO THE ACCOUNTS (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

24. CAPITAL COMMITMENTS

There are no capital commitments as at 31st December 2023 (2022- £Nil)

25. PENSION COSTS

The pension cost charge represents contributions payable by the company to the fund and amounted to £9,375 (2022 - £9,809). Contributions totaling £Nil (2022 - £Nil) were payable to the fund at the year end and are included in creditors.

26. RELATED PARTY TRANSACTIONS

During the year one (2022 - three) Trustees made donations totaling £19,994 (2022 - £12,646) to the Charity. Trustees’ remuneration and expenses are stated in note 13.

The charity also transferred £94,234 (2022 – £285,318) to its subsidiary in France during the year as a Contribution with Takeover rights.

27. ULTIMATE CONTROLLING PARTY

The charity was under the control of the board of trustees during the year.

2023-12-31-accounts

TRUSTEES’ REPORT AND FINANCIAL STATEMENT

REPORT AND ACCOUNTS

C O N T E N T S

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2023

OUR PURPOSE AND ACTIVITIES FOR THE PUBLIC BENEFIT

Our Vision

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Our Mission

Our activities and impact in 2023

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Highlights

Spring retreats

WCCM Academy

Holy Week & Easter

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Outreach to young people and World Youth Day, Lisbon .

Online Talks and Events

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

The Meditatio Centre in London

Visits by the Director within WCCM

WCCM National Communities

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Meditatio

Meditation with Children

Earth Crisis Group

Contemplative Christianity

WCCM Oblates

WCCM+

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Public Benefit Statement

Financial Review

Principal sources of funding

Investment powers and policy

Reserves policy

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Fundraising standards

Banking

Future Plans and Developments

Structure, Governance and Management

Set-Up and Governing document

Organisation

Appointment of Trustees

Trustee induction and training

Risk Management

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Key risks identified by the Trustees include the following:

FOR THE YEAR ENDED 31ST DECEMBER 2023

Key management personnel remuneration

Reference and Administrative Details

Charity Number: 1182213

Key management personnel:

Statement of Disclosure To Auditor

TRUSTEES’ REPORT (Cont/d)

FOR THE YEAR ENDED 31ST DECEMBER 2023

Statement of Trustees' Responsibilities

Auditors

Approval

THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE WORLD COMMUNITY FOR CHRISTIAN MEDITATION

Opinions on other matters prescribed by the Charities Act 2011

Matters on which we are required to report by exception

Responsibilities of trustees