**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 2022 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 2022 ||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 13| |Detailed Statement of Financial Activities|14 to 15| The Society Of The Inner Light Limited ## Report of the Trustees ## for the Year Ended 30 June 2022 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 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019). ## **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. ## **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 1 The Society Of The Inner Light Limited ## Report of the Trustees for the Year Ended 30 June 2022 ## **OBJECTIVES AND ACTIVITIES** ## **Grantmaking** Last 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. This year a grant was made in respect of a Dion Fortune seminar. ## **FINANCIAL REVIEW** ## **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. ## **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. ## **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. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 00458404 (England and Wales) ## **Registered Charity number** 207312 Page 2 The Society Of The Inner Light Limited ## Report of the Trustees ## for the Year Ended 30 June 2022 ## **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 Approved by order of the board of trustees on ....29/6/2023......................................... and signed on its behalf by: ## **A R Boyle** .......................................................... A R Boyle - Trustee Page 3 Independent Examiner's Report to the Trustees of The Society Of The Inner Light Limited ## **Independent examiner's report to the trustees of The Society Of The Inner Light Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2022. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its 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 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 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. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. ## **David Guymer King** David Guymer King FCCA ATII Guymer King Limited 4 Stone Street Court Stone Street Hadleigh Suffolk IP7 6HY Date: .....29/6/2023........................................ Page 4 The Society Of The Inner Light Limited ## Statement of Financial Activities for the Year Ended 30 June 2022 |**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Publishing and other activities
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Publishing and other activities
Grants
Centre Running Costs (“House”)
Support costs and administration
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**30.6.22**
**30.6.21**
**Unrestricted**
**Total**
**fund**
**funds**
**£**
**£**
7,627
6,050
22,581
24,074
48,763
45,972
78,971
76,096
75
-
600
4,000
27,332
33,210
14,254
19,893
42,261
57,103
(57,191)
129,656
(20,481)
148,649
1,371,696
1,223,047
1,351,215
1,371,696| |---|---| The notes form part of these financial statements Page 5 The Society Of The Inner Light Limited ## Balance Sheet ## 30 June 2022 |**Notes**
**FIXED ASSETS**
Tangible assets
6
Investments
7
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|**30.6.22**
**30.6.21**
**Unrestricted**
**Total**
**fund**
**funds**
**£**
**£**
47,202
48,031
1,172,338
1,229,530
1,219,540
1,277,561
12,462
13,321
124,527
87,508
136,989
100,829
(5,314)
(6,694)
131,675
94,135
1,351,215
1,371,696
1,351,215
1,371,696
1,351,215
1,371,696
1,351,215
1,371,696| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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. The notes form part of these financial statements Page 6 continued... The Society Of The Inner Light Limited ## Balance Sheet - continued ## 30 June 2022 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ......29/6/2023....................................... and were signed on its behalf by: ## **A R Boyle** ............................................. 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 2022 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. 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. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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 continued... The Society Of The Inner Light Limited ## Notes to the Financial Statements - continued for the Year Ended 30 June 2022 ## **2. INVESTMENT INCOME** |Listed investments
Deposit account interest|**30.6.22**
**£**
48,756
7
48,763|**30.6.21**
**£**
45,964
8| |---|---|---| |||45,972| ## **3. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||**30.6.22**|
**30.6.21**| |---|---|---| ||**£**|**£**| |Depreciation - owned assets|829|927| ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021. The only expenses reimbursed are for specific travel costs for the Society and out of pocket expenses. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||**Unrestricted**| |---|---| ||**fund**| ||**£**| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|6,050| |**Charitable activities**|| |Publishing and other activities|24,074| |Investment income|45,972| |**Total**|76,096| |**EXPENDITURE ON**|| |**Charitable activities**|| |Grants|4,000| |Centre Running Costs (“House”)|33,210| |Support costs and administration|19,893| |**Total**|57,103| Page 9 continued... The Society Of The Inner Light Limited ## Notes to the Financial Statements - continued for the Year Ended 30 June 2022 |**5.**|**COMPARATIVES FOR THE STATEMENT OF**|**COMPARATIVES FOR THE STATEMENT OF**|**COMPARATIVES FOR THE STATEMENT OF**|**COMPARATIVES FOR THE STATEMENT OF**|**FINANCIAL ACTIVITIES - continued**|**FINANCIAL ACTIVITIES - continued**|**FINANCIAL ACTIVITIES - continued**|**FINANCIAL ACTIVITIES - continued**| |---|---|---|---|---|---|---|---|---| |||||||||**Unrestricted**| |||||||||**fund**| |||||||||**£**| ||Net gains on investments|||||||129,656| ||**NET INCOME**|||||||148,649| ||**RECONCILIATION OF FUNDS**|||||||| ||Total funds brought forward|||||||1,223,047| ||**TOTAL FUNDS CARRIED**|||||||| ||**FORWARD**|||||||1,371,696| |**6.**|**TANGIBLE FIXED ASSETS**|||||||| |||||||**Fixtures**||| |||**Freehold**||**Plant**|**and**|**and**|**Computer**|| |||**property**||**machinery**||**fittings**|**equipment**|
**Totals**| |||**£**||**£**||**£**|**£**|**£**| ||**COST**|||||||| ||At 1 July 2021 and|||||||| ||30 June 2022|37,052||20,171||50,829|800|108,852| ||**DEPRECIATION**|||||||| ||At 1 July 2021||-|20,042||40,779|-|60,821| ||Charge for year||-||32|797|-|829| ||At 30 June 2022||-|20,074||41,576|-|61,650| ||**NET BOOK VALUE**|||||||| ||At 30 June 2022|37,052|||97|9,253|800|47,202| ||At 30 June 2021|37,052||129||10,050|800|48,031| The headquarters at 38 Steele's Road NW3 is not valued or included at a value in the accounts on the basis that it was gifted to the Society and there is no intention to realise the asset in the foreseeable future. Page 10 continued... The Society Of The Inner Light Limited ## Notes to the Financial Statements - continued for the Year Ended 30 June 2022 ## **7. FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 July 2021
Revaluations
At 30 June 2022
**NET BOOK VALUE**
At 30 June 2022
At 30 June 2021|**Listed**
**investments**
**£**
1,229,530
(57,192)
1,172,338
1,172,338
1,229,530| |---|---| There were no investment assets outside the UK. The fixed asset investments consist of a holding of M&G Charibond and Charifund income units which are adjusted each year to represent the open market value at the year end as reported by M&G for 30 June each year. ## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Prepayments and accrued income
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals and deferred income|**30.6.22**
**£**
12,462
-
12,462
**30.6.22**
**£**
2,114
3,200
5,314|**30.6.21**
**£**
7,577
5,744
13,321
**30.6.21**
**£**
147
6,547
6,694| |---|---|---| Page 11 continued... The Society Of The Inner Light Limited ## Notes to the Financial Statements - continued for the Year Ended 30 June 2022 ## **10. MOVEMENT IN FUNDS** |**MOVEMENT IN FUNDS**||||| |---|---|---|---|---| ||||**Net**|| ||||**movement**|
**At**| |||**At 1.7.21**|**in funds**|
**30.6.22**| |||**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund||1,371,696|(20,481)|1,351,215| |**TOTAL FUNDS**||1,371,696|(20,481)|1,351,215| |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|78,971|(42,261)|(57,191)|(20,481)| |**TOTAL FUNDS**|78,971|(42,261)|(57,191)|(20,481)| |**Comparatives for movement in funds**||||| ||||**Net**|| ||||**movement**|
**At**| |||**At 1.7.20**|**in funds**|
**30.6.21**| |||**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund||1,223,047|148,649|1,371,696| |**TOTAL FUNDS**||1,223,047|148,649|1,371,696| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
76,096
76,096|**Resources**
**expended**
**£**
(57,103)
(57,103)|**Gains and Movement**
**losses**
**in funds**
**£**
**£**
129,656
148,649
129,656
148,649| |---|---|---|---| Page 12 continued... The Society Of The Inner Light Limited ## Notes to the Financial Statements - continued ## for the Year Ended 30 June 2022 ## **10. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1.7.20**
**£**
1,223,047
1,223,047|**Net**
**movement**
**At**

**in funds**
**30.6.22**
**£**
**£**
128,168
1,351,215
128,168
1,351,215| |---|---|---| 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|155,067|(99,364)|72,465|128,168| |**TOTAL FUNDS**|155,067|(99,364)|72,465|128,168| ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 June 2022. Page 13 |The Society Of The Inner Light Limited||| |---|---|---| |Detailed Statement of Financial Activities||| |for the Year Ended 30 June 2022||| ||**30.6.22**|**30.6.21**| ||**£**|**£**| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|7,627|6,050| |**Investment income**||| |Listed investments|48,756|45,964| |Deposit account interest|7|8| ||48,763|45,972| |**Charitable activities**||| |Journals and magazines|-|19| |Book sales and royalties|21,377|22,692| |Study course fee|1,204|1,363| ||22,581|24,074| |**Total incoming resources**|78,971|76,096| |**EXPENDITURE**||| |**Charitable activities**||| |Rates and water|11,164|11,336| |Insurance|9,209|9,249| |Light and heat|3,915|3,695| |Books and journals|75|-| |Repairs and maintenance|3,044|8,003| |Grants to institutions|600|4,000| ||28,007|36,283| |**Support costs**||| |**Management**||| |Telephone|1,839|1,639| |Postage and stationery|97|268| |Sundries|158|332| |Travelling|3,535|1,725| |Plant and machinery|32|42| |Fixtures and fittings|797|885| ||6,458|4,891| |**Finance**||| |Bank charges|178|157| This page does not form part of the statutory financial statements Page 14 The Society Of The Inner Light Limited ## Detailed Statement of Financial Activities for the Year Ended 30 June 2022 |Detailed Statement of Financial Activities
for the Year Ended 30 June 2022||| |---|---|---| ||**30.6.22**|**30.6.21**| ||**£**|**£**| |**Finance**||| |**Information technology**||| |Computer costs|402|371| |**Other**||| |Exchange (gains)/losses|(3,904)|7,765| |Legal and professional|4,485|835| |Audit and accountancy|6,635|6,801| ||7,216|15,401| |Total resources expended|42,261|57,103| |**Net income**|36,710|18,993| This page does not form part of the statutory financial statements Page 15