SHANTI FOUNDATION
TRUSTEE ANNUAL REPORT FOR THE YEAR ENDING DEC 31 2023
Shanti Foundation, Charity No. 1193560
Registered with the Charity Commission of England & Wales
CONTENTS
Structure & Governance 2 Aims & Objectives 3 Activities 3 Achievements 4 Future Projects 6 Financial Review 7 Statement of Trustees Responsibilities 8 Independent Examiner’s Report 9 Statement of Financial Activities 10 Balance Sheet 11 Notes to the Financial Statements 12
ADMINISTRATIVE INFORMATION
Charity Name Shanti Foundation
Charity Number 1193560
Postal Address Shanti Foundation
Honorary Patron
Shanti Mark R. Koppikar
Board of Trustees
Sofia Miccichè (appointed 8th February 2023)
Stefan Nuschele (appointed 8th February 2023)
Stefanie Rottmoser (appointed 8th February 2023)
Alexandra Isenegger
Annabelle Gayle Buck
Independent Examiner
Moore Kingston Smith LLP
6th Floor, 9 Appold Street
London
EC2A 2AP
1
STRUCTURE & GOVERNANCE
The charity is governed by five Trustees, all of whom have been close students of Shanti for many years.
Through integrating Shanti’s teachings, the Trustees have discovered deep fulfilment, inner freedom, and peace. In line with this, their actions are governed by healthy discernment, honesty, and integrity of heart.
Newly Appointing Trustees
Every charity Trustee must be a natural person. In selecting individuals for appointment as charity Trustees, the charity Trustees must have regard to the skills, knowledge, and experience needed for the e�ective administration of the CIO. All newly appointed Trustees will receive a copy of the current version of the constitution and a copy of the latest Trustee’s Annual Report and statement of accounts, as well as an induction of the role, delivered by the current Trustees.
Retirement and Removal of Charity Trustees
A charity Trustee ceases to hold o�ce if he or she retires by notifying the CIO in writing, or, is absent without the permission of the charity Trustees from all their meetings held within a period of six months and the Trustees resolve that his or her o�ce be vacated; or, has become physically or mentally incapable of acting as a Trustee and may remain so for more than three months; or passes away, or, is disqualified from acting as a charity Trustee by virtue of sections 178-180 of the Charities Act 2011 (or any statutory re-enactment or modification of that provision).
Risk Management
The Trustees have, over the course of the year, reviewed all policies, including the financial management policy, conflicts of interest policy, recruitment policy, health and safety policy, and privacy policy.
The potential risk to the charity posed by COVID-19 ceased throughout early 2023, and the Trustees foresee that we will be able to continue the operations of the charity in line with achieving the charity aims.
General Management
The Trustees maintain awareness of all of the charity’s activities, to ensure that we, as a charity organism, always act in integrity, from the heart, and in accordance with the CIO object, bringing peace and enlightenment to the world through the teachings of Advaita Vedanta.
2
AIMS & OBJECTIVES
The object of the CIO is the promotion of moral and spiritual welfare for the public benefit by promoting the teachings and practical methodology of the Advaita Vedanta philosophy, as set out in our governing document.
Our aim is to bring peace and enlightenment to the world.
ACTIVITIES
The Shanti Foundation delivers our objective through meetings called “Satsang”, which is Sanskrit for “gathering in Truth”.
The teachings and practical methodology of Advaita Vedanta are shared directly and solely by our beloved teacher, Shanti.
Through Satsang with Shanti, students and participants from all over the world can discover peace, stillness, and fulfilment in their own being, that is not altered by situation or circumstance. Having had such a discovery, every student has the opportunity to stabilise in this peace, and share this, with all whom they meet in their daily lives.
Outside of formal Satsang, students also deepen in their spiritual understanding through “Upanishad”. The translation of this is “sitting close to”, which means, to sit close to a Spiritual Teacher/Guru. This is available for all who are committed to the Advaita Vedanta path of enlightenment, and for whom feel in their heart that Shanti is their teacher.
Thus, the impact of the Shanti Foundation’s work is both profound and beyond measure.
In 2023, the Shanti Foundation o�ered formal and informal Satsang in person for free for the Volunteers who are dedicated to supporting our charity mission, and for all who felt called to visit Shanti.
The charity provided translation for German, French, Italian, Russian, and Hungarian speakers, as required, widening the reach of Shanti’s teachings and ensuring accessibility for all in attendance.
Our website and online resources were developed further during this year, in preparation for publication.
3
ACHIEVEMENTS
We received many wonderful testimonials from beneficiaries of the Shanti Foundation,
demonstrating the impact of our work, and how we are successfully achieving our charity object. These testimonials show the personal transformations that beneficiaries have acquired.
This is a discovery of inner peace and fulfilment of heart, which is not only experienced by the individuals directly in contact with the Shanti Foundation, but also by those who come in contact with them.
The impact of our charities work upon the wider public is, therefore, far-reaching and immeasurable.
Testimonials
“Through Shanti I was able to recognise what Truth is.
I longed for something that remains, that does not come and go,
I prayed to be able to see what is true.
In the presence of Shanti I realised that I am what I was looking for.
Through Satsang with Shanti, this realisation has deepened and the veils of illusion continue to disappear.” - Volunteer and Participant from Germany
“ Shanti awakened a joy in me which seemed lost for lifetimes. A desperate longing transformed into the feeling of being home, being whole. I began to see life’s beauty and it touches me deeply.” - Volunteer and Participant from Austria
"For me, Shanti's teachings have completely transformed my life… from one which looked great on the outside, but on the inside was troubled with fears and insecurities. Thanks to Shanti, my life is now full of love, fulfilment, and peace... And what’s remarkable is that everyone in the community has a testimonial just like this!" - Volunteer and Participant, Scotland, UK
“Through Satsang with Shanti, I have stopped thinking in categories like - good or bad. The goal of always having to feel good has also come to an end. I have been able to experience what it is like to be in the moment and in the Truth without judgement or ideas about how something should be. To be at peace with every feeling or external ‘circumstance’ that is here right now. Shanti showed me this freedom to live in every moment, no matter how it expresses itself.” - Volunteer and Participant from Germany
4
“Shanti has opened my heart. It happened during an online Satsang I attended. It was an amazing experience, it felt like my heart just burst open. I cried tears of joy and everything seemed very clear and beautiful. Also because of Shanti’s guidance and support I am infinitely more at peace with myself and my life experience. I definitely enjoy life much more than I used to before I met Shanti.” - Participant from Austria
“My first encounter with Shanti was just - WOW!
I was looking for answers to my innermost questions for many years. In my first Satsang with Shanti, l sat in the Satsang-room in Rosenheim and could feel it immediately. And when Shanti entered the room, my eyes were opened. That's what l've always been looking for. I felt a sense of arrival, relaxation and wonderful peace. Since I've been with Shanti, everything changed for me. l was able to go through deep processes; traumas and wounds healed. There was also a lot of healing in my family and the treatment was very loving. Now I see the absolute beauty of being and enjoy life to the fullest. I am deeply grateful every day that life has led me to Shanti.” - Volunteer and Participant from Germany
“Since I met Shanti, my life has totally changed. I can live more in the moment and I have dissolved many concepts of who I thought myself to be.
Step by step I am able to discover my true self and I see how I can feel more and more in peace with what is in the moment. The love to Christ and all beings that I feel each time in my heart goes deeper and deeper. I'm very thankful and happy for all of Shanti's teachings.” - Participant from Germany
“I met Shanti in Tiruvannamalai, India, and still remember very well how the Presence I felt being next to him was no di�erent from that of the holy mountain of Arunachala itself! A question appeared 'How is that even possible?' and then immediately Shanti's energy field brought me into beautiful stillness, where all questions disappeared. That is exactly what often happens when being with Shanti - one encounters wonders and miracles of life, which can't be understood by the mind, but experienced by the Heart only. How fascinating is that! I don't feel inner war anymore, which was there for many years. And I feel more and more free and peaceful and keep discovering my Heart/Self, which is so unspeakably touching to experience, deeper and deeper.” - Volunteer and Participant from Lithuania
5
FUTURE PROJECTS
Strategies for 2024
Location
Establish and maintain an operational residence for the Shanti Foundation.
Digital
O�er virtual Satsang events that directly promote moral and spiritual welfare for the public benefit.
Physical
O�er in-person Satsangs and Retreats.
Media
Continue to design, develop and publish spiritual resources for the public benefit, freely accessible for all. This includes, but is not limited to, social media content, YouTube videos, and Podcasts.
Website
Finalise and launch the ‘Shanti Foundation’ website, enabling the public to access the services and resources provided by the CIO.
Volunteers
Support our Volunteers to assist with the holding of events, the creation of digital media, expanding our outreach, and the wider operations of the Shanti Foundation.
Fundraising
We anticipate to raise funds publicly and amongst the charity’s networks.
6
SHANTI FOUNDATION FINANCIAL REVIEW
Shanti Foundation Financial Report Year End Dec 31 2023
Income: £44,753
Expenditure: £31,508
Assets: £19,888
Liabilities: £6,604
Principal Funding Sources
During the year 2023, our income was primarily Charitable Donations.
Our expenditure covered the necessities required for the CIO to deliver its aims.
Reserve Funds
We currently have zero reserves. This is because, as of 2023, we have kept our costs to a minimum, running our activities with the support of the charity volunteers. Reserves were therefore not required.
Plans for Future Periods
The CIO intends to seek funding from individual donors, organisational partners, the general public, and independent grant providers that are aligned with the charity's object and mission.
The CIO also intends to generate income through public Satsangs and Retreats.
In 2023, the charity activities increased. We foresee that the charity activities and revenue will increase further in the coming year.
7
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable laws and regulations.
Under charity law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of a�airs of the CIO and of the application of resources, including the income and expenditure for that period.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently; make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed; and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the CIO will continue in business.
The Trustees are responsible for keeping adequate accounting records that are su�cient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets (if any) of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
TRUSTEE ANNUAL REPORT CONFIRMATION
SIGNED ON BEHALF OF THE TRUSTEES
SOFIA MICCICHÈ
TRUSTEE, SHANTI FOUNDATION
DATE: _______
8
SHANTI FOUNDATION INDEPENDENT EXAMINERS REPORT
To the Trustees of Shanti Foundation
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Adam Fullerton (FCA DChA) For and On Behalf of Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP
Date:
9
SHANTI FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023
| Restricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| Funds Year | Funds Year | Total Year | Total Year | |||
| ended | ended | ended | ended | |||
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| Note | ||||||
| Income from: | ||||||
| Donations, grants and legacies | 2 | - | 44,753 | 44,753 | - | |
| Total | - | 44,753 | 44,753 | - | ||
| Expenditure on: | ||||||
| Charitable activities | 3 | - | 31,508 | 31,508 | - | |
| Total | - | 31,508 | 31,508 | - | ||
| Net income | - | 13,245 | 13,245 | - | ||
| Net movement in funds | - | 13,245 | 13,245 | - | ||
| Total funds brought forward | - | 39 | 39 | 39 | ||
| Total funds carried forward | 10 | - | 13,284 | 13,284 | 39 |
All activities relate to continuing operations.
10
SHANTI FOUNDATION BALANCE SHEET At 31 December 2023
| Funds Net Assets Fixed assets Current Assets Cash at bank and in hand Net Current Assets Creditors: Amounts Falling due within one year 8 9 10 10 Note Unrestricted Funds Restricted Funds |
£ 2023 (6,604) 1,888 1,888 |
£ 2023 18,000 13,284 13,284 13,284 - (4,716) |
£ 2022 39 39 - |
£ 2022 39 - |
|---|---|---|---|---|
| 39 | ||||
| 39 - |
||||
| 39 |
The notes on pages 10 to 14 form part of these accounts.
Approved by the Trustees on …………………........................................................... Signed on their behalf by:
Trustee: Stefan Nuschele
Signature: .................................................................................................................
11
SHANTI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
1 Accounting Policies
Charity information
The Shanti Foundation is a charitable incorporated organisation (CIO) and registered in England and Wales. The registered office is 16a Curzon Street, London, W1J 5HP.
Basis of preparation
The financial statements have been prepared in accordance with 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 (FRS 102) and the Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS 102.
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 pound.
The principal accounting policies, which are applied consistently, are set out below.
Going concern
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. The charity has a net assets position at the year end and the expectation is that income will increase. As a result the trustees believe that the charity will be able to continue its activities and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.
Incoming Resources
All income is recognised once the charity has entitlement to the income, so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Resources Expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Gifts in kind
Where goods or services are provided to the charity as a donation that would normally be purchased, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.
Fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided to write off the cost of all relevant tangible fixed assets, less their estimated residual value, as follows:
Vehicles Pioneer 14 Active Boat
Financial instruments
Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.
12
SHANTI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
Critical Accounting Judgements and Estimates
In application of the Charity's accounting policies, the board is required to make judgements, 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 estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no estimates and assumptions which are believed to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in the current period.
13
SHANTI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
| 2 | Donations, grants and legacies | |||||
|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | |||
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| Donations | - | 26,753 | 26,753 | - | ||
| Gifts in kind | - | 18,000 | 18,000 | - | ||
| - | 44,753 | 44,753 | - | |||
| 3 | Total resources expended | |||||
| Restricted | Unrestricted | Total | Total | |||
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | ||||
| Cost of raising funds | - | - | - | - | ||
| Charitable activities | ||||||
| Direct costs | - | 21,600 | 21,600 | - | ||
| Support costs (see note 4) | - | 9,908 | 9,908 | - | ||
| Total | - | 31,508 | 31,508 | - | ||
| 4 | Support costs | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Subsistence Insurance | 2,908 | - | ||||
| Governance costs: | 396 | - | ||||
| Independent examination fees | ||||||
| Accountancy fee Legal & | 4,284 | - | ||||
| Professional fees | 1,854 | - | ||||
| 466 | - | |||||
| 9,908 | - | |||||
| 5 | Independent examiner's remuenration | |||||
| Governance costs include fees paid to the independent examiner as | 2023 | 2022 | ||||
| follows: | ||||||
| £ | £ | |||||
| Independent examination | 4,284 | - | ||||
| fees | 1,854 | - | ||||
| Accountancy fee | 466 | - | ||||
| Legal & Professional fees | 6,604 | - | ||||
| 6 | Staff costs and trustee remuneration | |||||
| Number of employees | ||||||
| The average monthly number of employees during | the year was: 0 (2022:0) | |||||
| Employment costs | 2023 | 2022 | ||||
| £ | £ | |||||
| Trustees Expenses | - - |
- - |
There were no employees whose annual emoluments were £60,000 or more in the current or prior year.
None of the trustees received remuneration in the year (2022: £nil). None of the trustee received reimbursement of expenses during the period, totalling £0 (2022: £0).
Key management personnel include the Trustees. The total employee benefits, including pension costs, of the charity's key management personnel were £nil (2022: £nil).
14
SHANTI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
7 Taxation
The CIO, being a registered charity, is not liable for corporation tax in respect of its operations for the year.
| 8 | Fixed assets | Vehicles | |
|---|---|---|---|
| £ | |||
| Cost | |||
| At 1 January 2023 | - | ||
| Additions | 18,000 | ||
| At 31 December 2023 | 18,000 | ||
| Depreciation | |||
| At 1 January 2023 Charge in year | - | ||
| At 31 December 2023 | - | ||
| - | |||
| Net book value | |||
| At 31 December 2023 | 18,000 | ||
| At 31 December | - | ||
| 2022 | |||
| 9 | Creditors: amounts falling due within one year | 2023 | 2022 |
| £ | £ | ||
| Creditors | 1,096 | - | |
| Accruals and Deferred income | 5,508 | - | |
| 6,604 | - |
10 Analysis of funds
| Balance at | Balance at | ||||||
|---|---|---|---|---|---|---|---|
| 01/01/2023 | Income | Expenditure | Transfers | 31/12/2023 | |||
| £ | £ | £ | £ | £ | |||
| Restricted funds | - | - | - | - | - | ||
| Unrestricted | 39 | 44,753 | (31,508) | - | 13,284 | ||
| funds | |||||||
| Total | 39 | 44,753 | (31,508) | - | 13,284 | ||
| 2023 | |||||||
| Balance at | Balance at | ||||||
| 01/01/2022 | Income | Expenditure | Transfers | 31/12/2022 | |||
| £ | £ | £ | £ | £ | |||
| Restricted funds | - | - | - | - | - | ||
| Unrestricted funds | 39 | - | - | - | 39 | ||
| Total 2022 | 39 | - | - | - | 39 | ||
| 11 | Analysis of net assets between funds | ||||||
| Unrestricted | Restricted | 2023 | |||||
| funds | funds | Total | |||||
| £ | £ | £ | |||||
| Fixed assets | 18,000 | - | 18,000 | ||||
| Current Assets | 1,888 | - | 1,888 | ||||
| Current | (6,604) | - | (6,604) | ||||
| Liabilities | |||||||
| Total Funds | 13,284 | - | 13,284 | ||||
| Unrestricted | Restricted | 2022 | |||||
| funds | funds | Total | |||||
| £ | £ | £ | |||||
| Current Assets | 39 | - | 39 | ||||
| Current | - | - | - | ||||
| Liabilities | |||||||
| Total Funds | 39 | - | 39 |
15
SHANTI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
12 Related party transaction-
During the year, the Trustees donated £155 (2022: £nil) to the charity.
The charity also received a donation of £290 (2022: £nil) from Dakini Ltd, a company whose shareholder is A Isenegger, one of the trustees, as well as a donation of £20,000 (2022: £nil) from Linkilaw Solicitors Limited. A Isenegger is the founder and CEO of from Linkilaw Solicitors Limited.
16