**REGISTERED COMPANY NUMBER: 00458404 (England and Wales) REGISTERED CHARITY NUMBER: 207312** Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2021 for The Society Of The Inner Light Limited Guymer King Limited 4 Stone Street Court Stone Street Hadleigh Suffolk IP7 6HY The Society Of The Inner Light Limited Contents of the Financial Statements for the Year Ended 30 June 2021 ||Page| |---|---| |Report of the Trustees|1 to 3| |Independent Examiner's Report|4| |Statement of Financial Activities|5| |Balance Sheet|6 to 7| |Notes to the Financial Statements|8 to 12| |Detailed Statement of Financial Activities|13 to 14| The Society Of The Inner Light Limited ## Report of the Trustees for the Year Ended 30 June 2021 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 00458404 (England and Wales) ## **Registered Charity number** 207312 ## **Registered office** Providence House 141-145 Princes Street Ipswich Suffolk IP1 1QJ ## **Trustees** Mrs P Arthy Retired A R Boyle Psychotherapist C P Gilson Teacher Professor S R Harrop Professor Emeritus J Paternoster Retired Dental Surgeon ## **Company Secretary** Birketts Secretaries Limited ## **Independent examiner** Guymer King Limited 4 Stone Street Court Stone Street Hadleigh Suffolk IP7 6HY ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Organisational structure** The directors of the company are members of the Council of Management (the "Council"), who are also its trustees for the purposes of charity law. The Council are self-appointing and must be members of the charity to be selected for appointment. The Articles provide that the Council may choose to specify a term of office but, if no term is so specified, a Trustee shall remain until they cease to hold office due to disqualification, removal or death. The number of Trustees shall not be less than three nor more than twelve. Page 1 The Society Of The Inner Light Limited Report of the Trustees ## for the Year Ended 30 June 2021 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objects of the charity are to promote, inculcate, propagate and carry on the study and teaching of theology and metaphysical religion and do all things incidental to the advancement thereof.The objects also enable the Society to hold devotional and public meetings, lectures, exhibitions and classes of an educational and spiritual character, to establish and carry on schools and colleges, to construct temples of worship and other institutions for religious services and to supervise, unify, promote and generally administer the activities of the members of the Society in the fulfilment of their religious offices, duties and ideals. to achieve these objects the charity engages in a number of activities. ## **Significant activities** The Society is run purely by voluntary help. No volunteers are paid for their work although expenses are covered but only in case of need. Volunteers continue to give time generously. ## **Publishing** The Society publishes learned articles and books on theology and mysticism and esoteric thought in both print and via electronic media. Redwheel Weiser Publishers continues to operate on our behalf for our readers in the United States and worldwide in relation to the Society's Estate. ## **Courses** The society continues to provide a supervised correspondence course, its length as a preliminary to admission being one year. Courses involve studies in mysticism, ethics, theology, as well as esoteric thought and practice. Coursework is set and marked by a number of supervisors under the overall supervision of the Director of Studies. The Society is keen to maintain high academic and personal standards from its members and its study course students. ## **Centre ("The House")** The Society continues to use its headquarters at 38 Steele's Road NW3 as an open centre for the Society's members where they can attend meetings, lectures and talks organised by the Society. The centre is also open for prayers and meditation in an area specially set aside. Overnight accommodation is available to Society members and guests when necessary. The Trustees continue to spend funds carefully to keep the centre in good order and this year work was undertaken on a wall at the property. ## **Grantmaking** This year a grant was made to the Temenos Academy to support their aims which are similar in may ways to the Society's own aims and objectives. ## **Public benefit** The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit in determining the activities undertaken by the Charity. Page 2 The Society Of The Inner Light Limited Report of the Trustees for the Year Ended 30 June 2021 ## **FINANCIAL REVIEW** ## **Reserves policy** The Council are in continuing discussion with the membership with regard to the current activities of the Society and additional means to carry out the objects. A fundamental factor being a continuous review of the Society's reserves policy. It is being considered to set up a specific reserve to meet future buildings and maintenance costs. ## **Investment policy and objectives** There are no restrictions on the Society's power to invest but the Society continues to be satisfied that the most appropriate policy for investing their funds are the specialised unit trusts designed for the charity sector. The Society continues to invest in Charibond Charities Narrower Range Common Fund and the Equities Investment Fund for Charities (Charibond). Their portfolio continues to be managed by M&G Securities Limited. The Council considers the Society's investments to be managed judiciously by M&G in the face of the continued economic impact of the coronavirus and other Geopolitical events in the world. It is anticipated that the Fixed income will provide some stability, whilst the Shares will continue to recover any lost ground over time as Central Banks and Governments around the world provide economic stimuli and restore confidence to the markets given current circumstances. The Society does not intend to realise capital losses. Approved by order of the board of trustees on 26 March 2022 and signed on its behalf by: A R Boyle - Trustee Page 3 Independent Examiner's Report to the Trustees of The Society Of The Inner Light Limited I report on the accounts of the company for the year ended 30 June 2021, which are set out on pages five to twelve. ## **Responsibilities and basis of report** As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. that accounting records were not kept as required by section 386 of the Companies Act 2006; or 2. that the accounts do not accord with those records; or 3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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; or 4. that there is further information needed for a proper understanding of the accounts. ## **Independent examiner's statement** I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention. David Guymer King FCCA ATII Guymer King Limited 4 Stone Street Court Stone Street Hadleigh Suffolk IP7 6HY 26 March 2022 Page 4 The Society Of The Inner Light Limited ## Statement of Financial Activities for the Year Ended 30 June 2021 |**30.6.21**
**Unrestricted**
**fund**
Notes
**£**
**INCOMING RESOURCES**
**Incoming resources from generated**
**funds**
Voluntary income
6,050
Investment income
2
45,972
**Incoming resources from charitable**
**activities**
Publishing and other activities
24,074
Grants
-
**Total incoming resources**
76,096
**RESOURCES EXPENDED**
**Charitable activities**
Publishing and other activities
-
Grants
4,000
Centre Running Costs ("House")
33,210
Support costs and administration
19,893
**Total resources expended**
57,103
**NET INCOMING RESOURCES**
18,993
**Other recognised gains/losses**
Gains/losses on investment assets
129,656
**Net movement in funds**
148,649
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,223,047
**TOTAL FUNDS CARRIED FORWARD**
1,371,696|**30.6.20**
**Total**
**funds**
**£**
5,714
54,661
6,234
3,400
70,009
2,389
2,390
34,757
19,312
58,848
11,161
(162,340)
(151,179)
1,374,226
1,223,047| |---|---| The notes form part of these financial statements Page 5 The Society Of The Inner Light Limited ## Balance Sheet At 30 June 2021 |**30.6.21**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Tangible assets
5
48,031
Investments
6
1,229,530
1,277,561
**CURRENT ASSETS**
Debtors
7
13,321
Prepayments and accrued income
-
Cash at bank and in hand
87,508
100,829
**CREDITORS**
Amounts falling due within one year
8
(6,694)
**NET CURRENT ASSETS**
94,135
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
1,371,696
**NET ASSETS**
1,371,696
**FUNDS**
9
Unrestricted funds
1,371,696
**TOTAL FUNDS**
1,371,696|**30.6.20**
**Total**
**funds**
**£**
43,754
1,099,874
1,143,628
-
5,833
78,317
84,150
(4,731)
79,419
1,223,047
1,223,047
1,223,047
1,223,047| |---|---| The notes form part of these financial statements Page 6 continued... The Society Of The Inner Light Limited Balance Sheet - continued At 30 June 2021 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015). The financial statements were approved by the Board of Trustees on 26 March 2022 and were signed on its behalf by: A R Boyle -Trustee The notes form part of these financial statements Page 7 The Society Of The Inner Light Limited Notes to the Financial Statements for the Year Ended 30 June 2021 ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **Resources expended** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery 25% Reducing balance method Fixtures and fittings 10% Reducing balance method Freehold property Not depreciated ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 8 The Society Of The Inner Light Limited ## Notes to the Financial Statements - continued for the Year Ended 30 June 2021 ## **2. INVESTMENT INCOME** |Listed investments
Deposit account interest
**NET INCOMING/(OUTGOING) RESOURCES**
Net resources are stated after charging/(crediting):
Depreciation - owned assets|30.6.21
£
45,964
8
45,972
30.6.21
£
927|30.6.20
£
53,948
713| |---|---|---| |||54,661| |||30.6.20
£
860| ## **3. NET INCOMING/(OUTGOING) RESOURCES** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020. The only expenses reimbursed are for specific travel costs for the Society and out of pocket expenses. Page 9 The Society Of The Inner Light Limited ## Notes to the Financial Statements - continued for the Year Ended 30 June 2021 ## **5. TANGIBLE FIXED ASSETS** |**5.**|**TANGIBLE FIXED ASSETS**||||| |---|---|---|---|---|---| ||||**Plant and**||| |||**Land and**|**machinery**||| |||**buildings**||**etc**|**Totals**| |||£|£||£| ||**COST**||||| ||At 1 July 2020|31,848|71,800||103,648| ||Additions|5,204||-|5,204| ||At 30 June 2021|37,052|71,800||108,852| ||**DEPRECIATION**||||| ||At 1 July 2020|-|59,894||59,894| ||Charge for year|-||927|927| ||At 30 June 2021|-|60,821||60,821| ||**NET BOOK VALUE**||||| ||At 30 June 2021|37,052|10,979||48,031| ||||||| ||At 30 June 2020|31,848|11,906||43,754| |**6.**|**FIXED ASSET INVESTMENTS**||||| ||||||**Listed**| ||||||**investments**| ||||||**£**| ||**MARKET VALUE**||||| ||At 1 July 2020||||1,099,874| ||Revaluations||||129,656| ||At 30 June 2021||||1,229,530| ||**NET BOOK VALUE**||||| ||At 30 June 2021||||1,229,530| ||At 30 June 2020||||1,099,874| ||There were no investment assets outside the UK.||||| Page 10 The Society Of The Inner Light Limited Notes to the Financial Statements - continued for the Year Ended 30 June 2021 |**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**9.**
**MOVEMENT IN FUNDS**
**At 1.7.20**
**£**
**Unrestricted funds**
General fund
1,223,047
**TOTAL FUNDS**
1,223,047
Net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
76,096
(57,103)
**TOTAL FUNDS**
76,096
(57,103)|30.6.21
£
7,577
5,744
13,321
30.6.21
£
147
6,547
6,694
**Net**
**movement**
**in funds**
**£**
148,649
148,649
**Gains and**
**losses**
**£**
129,656
129,656|30.6.20
£
-
-
-
30.6.20
£
-
4,731
4,731
**At 30.6.21**
**£**
1,371,696|30.6.20
£
-
-
-
30.6.20
£
-
4,731
4,731
**At 30.6.21**
**£**
1,371,696|30.6.20
£
-
-| |---|---|---|---|---| |||||-| |||1,371,696||| |||**Movement**
**in funds**
**£**
148,649
148,649||| ||||148,649|| Page 11 The Society Of The Inner Light Limited Notes to the Financial Statements - continued for the Year Ended 30 June 2021 ## **9. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted Funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
70,009
**TOTAL FUNDS**
70,009|**At 1.7.19**
**£**
1,374,226
1,374,226
above are as
**Resources**
**expended**
**£**
(58,848)
(58,848)|**Net**
**movement**
**in funds**
**£**
(151,179)
(151,179)
follows:
**Gains and**
**losses**
**£**
(162,340)
(162,340)|**At 30.6.20**
**£**|**At 30.6.20**
**£**| |---|---|---|---|---| ||||1,223,047|| |||||| |||||| ||||1,223,047|| |||||| |||||| ||||**Movement**
**in funds**|| |||||**£**| |||||| |||||(151,179)| |||||| |||||| |||||(151,179)| |||||| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1.7.19**
**£**
1,374,226
1,374,226|**Net**
**movement**
**in funds**
**£**
(2,530)
(2,530)|**At 30.6.21**
**£**
1,371,696
1,371,696| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Gains and**|**Movement**| |---|---|---|---|---| ||**resources**|**expended**|**losses**|**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|146,105|(115,951)|(32,684)|(2,530)| |**TOTAL FUNDS**|146,105|(115,951)|(32,684)|(2,530)| Page 12 The Society Of The Inner Light Limited Detailed Statement of Financial Activities for the Year Ended 30 June 2021 |**INCOMING RESOURCES**
**Voluntary income**
Donations
**Investment income**
Listed investments
Deposit account interest
**Incoming resources from charitable activities**
Journals and magazines
Book sales and royalties
Study course fee
Grants
**Total incoming resources**
**RESOURCES EXPENDED**
**Charitable activities**
Rates and water
Insurance
Light and heat
Books and journals
Repairs and maintenance
Grants to institutions
**Support costs**
**Management**
Telephone
Postage and stationery
Advertising
Sundries
Travelling
Plant and machinery
Fixtures and fittings|30.6.21
£
6,050
45,964
8
45,972
19
22,692
1,363
-
24,074
76,096
11,336
9,249
3,695
-
8,003
4,000
36,283
1,639
268
-
332
1,725
42
885
4,891|30.6.20
£
5,714
53,948
713| |---|---|---| |||54,661
145
5,467
622
3,400| |||9,634| |||70,009
11,319
9,010
4,770
3,508
8,619
2,390| |||39,616
1,751
-
75
-
4,057
56
983| |||6,922| This page does not form part of the statutory financial statements Page 13 The Society Of The Inner Light Limited ## Detailed Statement of Financial Activities for the Year Ended 30 June 2021 |**Finance**
Bank charges
**Information technology**
Computer costs
**Other**
Exchange (gains)/losses
Legal and professional
Audit and accountancy
**Total resources expended**
**Net income**|30.6.21
£
157
371
7,765
835
6,801
15,401
57,103
18,993|30.6.20
£
200
2,106
(1,245)
1,997
9,252
10,004
58,848
11,161| |---|---|---| This page does not form part of the statutory financial statements Page 14