REGISTERED COMPANY NUMBER: 13(177230 (England and Wales) PIGESTERED CHARITY NUMBER: 1193276 REPORT OF THE TRusfEES AND UNAUDITED FINANCJAL STATEMENIS FOR THE PEIUOD I JANUARY 2023 TO 31 MARCH 2024 FOR THE MEDITATION TRUST Spurling Cannon Chartered Certifjaj Accountants 424 Margate Road Kcnt CT12 6SJ
THE MEDITATJON TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD I JANUARY 2023 TO 31 MARCH 2024 Pgge Report ofthe Tru$ttts Independent Exgminer's Report ststemellt of FIatIll Artivities Balanee Shttt 5 to 6 Notr5 to the Finan¢lal StstemeDts 7 to 10 D¢tsiled Ststement of FiDaDeial Actfvltie5
THE MEDITATION TRUST REPORT OF THE TRUSTEES FOR THE PERIOD I JANUARY 21123 TO 31 MARCH 2024 I'he trustces ilJo arc 8150 dire¢tot5 of thc ¢harity for thc purposes of the C¢)mpanies Art 2Q06, prc5ent their ryth the firClaI st8tcmcnts of the charity for the period l January 2023 31 M8r¢h 2024. The tnjstees have aik>pted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Prartice appIlb]e io Charities preFQTitLg their accouttts in a¢¢ordan¢e with the Financial Repon8 Standard applicable in the UK attd Republic of Ireland IFRS l(r21 (effective l January 20191. OWbCTIVES AND ACTIVITIES Objectiv£s aims Th¢ objects of the Charity 5hdl be for the b¢nefit of th¢ public thn)ugh the advancement of education by offthng such Louts of instruction lo the public as wll promote the mental and ¢Feative development of the individual through majitation and any purp)ses which att exclubively charitable according to English law. SignificaDt activitie5 During the year, we havc eonlinueil to in"pwson courscs in Transcendent Meditati in London and Kent, knth non sid(t1lY alld on rctreat. A new addiiion has been the re-introdudion of a vcry cxperienced teacher (who had not taught since thc Covid pandemi¢) io ex]yand our offering into Bri8hton- We have kept our course fees significantly lower than the stsndard fe offered elsewherc. Alongside the course4 we continue to offer free supron and guidajjce for life to those wtho have ever Ivdmt with the 'ITU5t or subsequently joined us. This inrludes free onlsne 9d in person tneeiings (meditation with Q&A) with a teacher. Although we cannot teach ihe a¢aI rneditation course onlinE the added devclopment Of these support mcctiogs being online have p)ved to te a vaIuable addition to our rtfoliO of activities due to increased a¢ibIlity around the gjobe. Our online oITerin8 has also expanded to the general public with our free intmductory talks With Q&A. which is alw offer1 to slf1¢ groups with a sFeridist iopic fiKu5 where requ¢strd. We have also otTerd some low cost (reductions or fire to tknse in difficulty} refirsher 5es5ions orline to help th05¥ whts hove lapsed OT aTe 5ttuggiing with their practice. All of th£ online off¢rin8s have further incre&sed our a¢¢essibility. We have eontinued to offÉY bursaries for non-resIdliaI and retreat Courses as well as keeping our lowest cost roorn option Idom)itoryl on rwreat at a subsidi5ed rate lat no Profit). This h&8 ensurcd ail courscs and retreats have remaned &% rinancially d¢e¢ssibl¢ as tMMibl¥ despite our increased oists in the current Cli[na We also proM5iona]Ey F£heduled a[ther advanced Siddhi course lor 21>26 again with subsidised pl&es help ihose $ggling fJnan¢ia]ly. Whilst our hiTed retwt ¢¢ntrc of 25 y£ar5 has re£tlY been put up for sale. we are searching very carefvlly for #n(>th¢T v¢nu¢ which wll allow us to keep our low prices and bursaries for the benefit of our a¥istin8 communÈty and those looking to join us. Publit beerit 1The trust¢cs o)nfiEm they havc complied with the duty in sedion 17 of the Charities Act 2011 lo have duc regard to the public bencfii gvidan¢e published by the Charity Commission. The tru5tee5 have referred Éo the guidance ¢onthined in the Charity Commi55ion's g¢neral guidance on public benefit when reviewing the trust's aims and obj¢ctive4 in particular to its supplcmcntary pvblic benefii guidance on advaneing education and on fee-charging. STRucfuRE. GOVERNANCE AND MANAGEMENT Governing dotument The charity is controlled by its governing documenl a oftnJsL and ¢onslituto% a limited (x)mpany, limitd by guaranlce, as defined by the Companies Acl 2(X)6. REFERENCE AND ADMINISTIi4TIVE DETAIIS Registered Compally number 13077230 (England and Wajesl Page I
THE MEDITATION TRUST REPORT OF THE TRUSTEES FOR THE PERIOD I JANUARY 2023 TO 31 MARCH 2024 Registered Charity ntsmber 1193276 Registered offEte I l Daryngton Avenue Birchingtthj Kenl cr7 9PS L)r J R8natvalaTheatre Dtrector Iro%ignol 111812023) P Smith Director, Insurance Rroker (resigned 2817r2023) A Patel (resigned 121812023} Ms G Blltt8r DirectOT P Hayward Sales & demonstrdtion manager{apTM)inted 1819r2023J J Cole Photographer lapwinted 2819121)23} ydepettdtt Examlner Spurliag Cgnnon Chartered Certified A¢¢A)unt2nts 424 Margate Road Ram%8ate Kent cr12 6SJ Appmvtsj by orderof the Ix)ard oftrustees on 5 July 2024 and signedon its behalfby= Ms G ButtaTazzi- Trustee Page 2
Ir+iDEPEf4DETrtr EXAMINER'S REPORT TO THE TRUSTEES OF THE MEDrrATION TRUST Independent ¢xamlDer'$ report to the tru$t¢¢s of The Meditation Trn$t I'the Company'l I retK)rt to the tharity tW5tEts on tny &xaTnination of the account5 of the Cotnwy for the wtod l January 2023 to 31 Marth 2024. Respomlbllitles and ba$5$ of report As the charity's trustees of the Company (at)d also its directors for the purtose5 of comkw law) you are respDtLsible for the preparation ofthe accowts in with the requitrmfflts of the Companies Act 20( (the 21)06 Act,). Having satisfied myself that the coUnts of the Company are nol required to audited under Part 16 of the 21116 A¢t atkl are eligible tur independent examination, I report in respc£t of my examination of your charity's accounts as cled out und Section 145 of the Charities Act 2011 I'the 2011 Act?. In carrying oul my examination I have follod the Directions given by the Charity Commissiort und¢r s{tiOn 145(5) Ib) of the 2011 A¢L Independent ¢x#miffj¢r'$ $tate]llcnt Since your charity'¥ gr05$ income &x¢eeded £250,0(K) your examiner must a member of a listed body. I can confirm that I am qualified to undertake the examination beL'ause l am a member of the ERROR - relevant [rOf10 bY must be completed, which isone of the listEd ix)dies. I have complthl my cxamination. I confim) that no matters have o)me to my atkention in eonnection wqth the examination givin8 me Cau ¢0 believe: ac¢ounling Tecord5 wLYe not kept in resptor the COMFY as required by Section 386 of the 21KJ6 Act. or the accounts do not acrd with those records. or the atctsunts do rotnply with the a¢UntIng requirat)ents of Section 396 of the 2006 Aet (rther than any requirement that the accounts give a tme arfd fair view whi¢h is not a matr considered 25 part of Indedent examination. or the i)unts have not been prepared in accordan¢e with the method5 atld principles of the Siatanent of R¢commended Pra¢iice for accounting and reporting by chaTLties (applicable to dwities prePing their aLcounts in a¢¢ordance with the FIncial Rq)orting Standard applicablc in the UK Rq)ublic of Ir¢land {FRS 102)). I have rx) concerns and have come across no other mattS in connection with the &xamintition to whi¢h atteniion should be drnwn in this Teport in order to enable aproperundertanding of the aCCot(> be rc8ched. Mr P J Loveridge SpurlÈng Cannon Chartered Certifid Ateountants 424 Margate Road Westwood Ram$e Kent cr12 6SJ Pa8e3
THE MEDITATION TRUS[ STATEMENTOF FINANCIALACTIVITIES FOR THE PERIOD I JANUARY 21123 TO 31 MARCH 2024 Period to 31.3.24 YeaT Ended 31.12.22 rolal funds Unrestricted fund Note5 INCOME AND ENDOWMENTS FROM Donation$ and legacies 4309 Charitable activities Mediration Courses 286J69 190,830 Total 290578 EXPEIYDITURK ON Charitable attivities Meditation Courses 314.066 181,309 NET INCOMEI(EXPENDITURE) {233881 13.075 RECONCILIATION OF FUNDS Total fdS knught fojiward 32J04 19,229 TOTAL FUNDS CARRIED FORWARD 16 32,?04 The n¢Xes forni partof these financial Page 4
THE MEDITATION TRUST BALANCE SHEET 31 r*t4RCH 2024 2024 Unrestrl¢tsd fund 2022 Totsl funds Notes CURRENT ASSETS DebtOT5 C8sh at bank 2211 17057 11,730 71,192 2Q068 81922 CREDITORS Amounts falling due within one year {11?52) 150,618) NET CURRENf ASSETS 8116 31304 TOTAL ASSETS LESS CURRENT LIABILITIES 8116 32,304 NET ASSETS 8,816 32,304 FUNDS Unrestricted fvnds 8016 32,304 TOTAL FUNDS 16 32,304 The th"lIable wrnpany is entitl to txemption from audit under Section 477 of the Companies Act 2006 for the riod ended 31 March 2024. The MberS have not required the company to obtain an audit of its fin&n¢ial stat&nents fi)r the peTi<Ki etKkd 31 March 2024 in accordance with Seetion 476 of the Comyanits Act 26. The tsu5tce5 acknowledge their resTM}r]bi1ItiLS for lal t8vrIng that th¢ Gharitable company keeps accountin8 records that cortLP]y wth Sections 386 and 387 of the Companies Act 2006 8nd preparing financial st2trmthts Nthich give a true and fair Triew of the state of affairs of the charitable COmTrany as at the end of cach fiaancial year and of its surplus or defi¢it for each financi year in accordance with the requirements of Se¢li$ 394 and 395 and which otherwise mplY with the rqu1Tenllts of the Companies Act 2CK)6 relatillg to rinan¢ial ststern¢nts. so far a5 applicable to the d)aritable company. (bl lTh¢ notes form part of these financial statements Pag¢ 5 COntUCd...
THE MEDLTATIof4 TRusr BALANCE SHEET- tottflnu¢d 31 MARCH 2024 These finan¢ial statements have iwi pwAred in accordantt w¥th the provi5ion5 applicabl¢ to Charitable cornpanies subject to the ci)mpani&8 regirne. The finan¢iat Staten15 wue approved by the Board of Thstees and authorised for issue on 5 July 2024 and signed on ts behr by". G BttadZ- I"rustee The notes fonn partofthesefjnancial #atements Page 6
THE MEDITATION TRUST NOTES TO THE FINANCLIL STATEMEwrs FOR THE PERIOD I JANUARY 2023 TO 31 MARCH 2024 ACCOUNTING POLICIES Basts of preparing the financial statements The financTal statements of thc charitsble comFony, which 15 a public benefst entity der FRS 101 have te¢n prep>]red in ¥cordan¢e with ihe Ch#Titits SORP (FRS lif2) 'Ac¢ounting And Re)nIng by ChaTitie5: Statement of Recommended Pra¢ii¢e applirable to chill¢S preparing their accounts in a¢eordan¢e with th¢ Financial Ryrtin8 SthndaTd applicable in the UK and Rq)ublie of Iirland IFRS 1021 (effedive l JanLWy 2019),, Financial Rep)rtin8 Standard 102 '1Me l.'inancial Rwrting Stsndard applI61e in the UK and Republic tsf lffland and the Compani< Act 2006. Th¢ financial siatements have b¢cll prcpaTed undcrthc historical tost wnvention. Incom¢ All incme is reco8ni%ed in the staternt of Financi21 Activities once thc clwity has entitlement tr) the fund4 it i$ prolmble that the income will be receiv( andthe an)ouni¢an be measured r¢]iably. Expenditure Liabiliti are recognised &5 cxpcnditure as Soon L8 there is a legal or eonstnjctivc obligation committing the Charity to that expendIr¢, it is probable that a transfer of ttonomic bettfjts will be reqwred in ttleTneth the amount of Ihe obligalion can me&8ured reliably. Expdire is ac4x)untrd for on an accNa]s basis and ha5 ken classified nder headings ihai aggT¢gate all L¥JSt relat¢d to the category. IlTh¢re u)sts cgiinot b¢ dire¢Uy attribtjted particular headings thry have been allocated to actiwitio on a b&sis consistent with the uolrtsources. Taxation Thc ch8rity is exollpt from corp)ration on its charitable activitie5. FuThd aCcoutillg Unie5tricted funds can b¢ used in %cordan¢e wtth the charitableobjectives * th¢ discrelion of the tru5ttts. Re5trict¢d funds can only be used for particular reStriCd purtoses within the otyects of the charsty. Restrictions arise Trthcn sp¢cifJed by thedonororwhcn funds are tzised for particular rcstricted puryx)s&s. Further explanation of the nature and purpose of each fund is inCIed in the notes ty the finan¢ial stat¢ments. TRUSTEES, REMUNERATION AND BENEFrrs There wcre no inLStees' r¢mun¢ration or other benefits for the pericd endcfj 31 Mar¢h 2024 nor for thc year end 31 Decernber 2022. Trustee5 expens¢s There weir M iDJsiees' expenses paid fu the period ended 31 Marth 2024 nor for the year ended 31 Dttember 2022. Page 7 continued...
THE MEDITATION TRusr NOTES TO THE FI]¥ANCIAL STATEMENTS- ¢ontithued FOR TIIE PERtOD I JANUARY 2023 TO 31 PAARCH 2024 srAFF COSTS The averag¢ monthly numtEr of employees during the reriod w&$ as folkn¥s'. Period 1.123 to 31.3.24 Year Ended 31.12.22 Adminss(rdtion No employees received ernolument5 in excess of £60,IX)O. COMPARATIVES FOR THE STA TEMENT OF FINAP4CIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and lewies 3,554 Charitsble acttvities Meditation Cours 190.830 Tot 194,384 EXPENDITURE ON Charitable activittes Meditation Courses 181.309 NET INCOME 13,075 RECONCILLATION OF FUNDS Total funds b)ll8ht foThvard 19,229 TOTAL FUNDS CARRIED FORWARD 32,304 Page 8 continued...
THE MEDITATIOT4 TRUST
P40TES TO THE FINANCIAL STATEMENTS- contitiued
FOR THE PERIOD X JANUARY 2023 TO 31 f+(4RCH 2024
DEBTOiLS: AMOUNTS FALLING DUE WITH ONE YEAR
2024
2022
Otherdebtors
Preroymthts and acttue
THE MEDITATION TRUST NOTES TO THE FINANCIAL STATEMENTS- oontknued FOR THE PEIUOD I JANUARY 2023 TO 31 MARCA 2024 MOVEMENT IN FUNDS- tontiDued CompArathTes for movetllent funds Net movement in fund5 At 31.12.22 At 1.1.22 UrestrI¢ted fvnds General fvnd 19,229 13,075 32J04 TOTAL FUNDS 19,229 13,075 32.304 Comparative net movement in fund5. included in the above are as follows: TDo)ming Tes0UTS Rcsourccs eXpded Movcment in fi(nd5 Unre5(ricted General fund 194J84 1181.309) 13,075 TOTAL FUNDS 194J84 1181.309) 13,075 RELATED PARTY DISCLOSURES There no relakd Fmrty trdnsa¢tions forthe riod (y)ded 31 March 2024. IIMITED BY CUARANTEE Th¢ cotnp3ny is limited by guardntee and iknes not have share tttpital. Ea¢h of the members guaThntres to FHY to the company an amount of up to £1 if the coTnpany is wound up whilst they are a member or foT up lo 12 months after they have ceAStd to be amanlxr. Pggelo
THE f*SEDITATION TRUST DETAILED STATEMENT OF FINANaAL Acriv¥rJE8 FOR THE PERIOD I JANUARY 2023 TO 31 MARCH 2024 Period 1.1.23 Year En 31.12.22 31.3.24 INCOME AND ENDOWMENTS Donations ADd legacies Donaiions 4209 3554 Charit#blt aclivities Income 286J69 190,830 Totsl intoming resources 2W78 194,384 EXPENDITURE Charitsble aclivities Insurance Telephone AdvertTsing Sunitries Teaching C()sts Compllicr Co%ts Commission chaeS 462 301 9,088 372 505 1.751 48 163,423 143 1,694 283084 IA37 29S553 167.936 Support eosts Wages lQ983 12,269 CovernAThee costs Accountancy and legal fee 1,104 Totxl resources expended 314.066 181 J09 iyet lexpeDditureVill¢ome (23.488) 13,075 This pagedoes not forTn part of the statutory fanCial statemet Pagell