THE BENEVOLENT FUND OF ThE THEOSOPHICAL SOCIETY IN ENGLAND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
THE BENEVOLENT FUND OF THE THEOSOPHICAL socIErY IN ENGLAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 INDEX Page GeneT81 wfft)rmalK)n Trustee's Report Independt Examk)èrfs Rert stateEnt of Financaal Activit3 Balare Sheet Notes lo t1 Financial Statements 8-10 Page 1
THE BENEVoLEr FUND OF THE THE PHICA CIETY IN LIND FINANCIAL STATEMENT YEAR ENDED 30 SEPTEMBER 2020 TRUSTEE The English The050phKal Trust Ltd ADMINISTRATORS Jenny Baker EngL8nd Mrs Mat9Jila Walker- AJrmiÈr Nabonal Presideni of The Theosophical Society in ADDRESS 50 GtoucÈts Placè London W1U 8EA ACCOUNTANTS Mercer & Hole 21 Lombard Street London EC3V 9AH BANKERS HSBC Bank PIC 90 Baker Streel London W1M 2AX Lloyds TSB P 19123 Obelisk Way Camberfey Surw GU15 3SE CHARITY COMMISSION REGISTRATION NUMBER: 209130- Reyi51ered 22 Septèmbèr 1962 Page 2
THE BENEVOLENT FUND OF THE THEOSOPHICAL SOCIETY IN ENGLAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 REPORT OF THE TRUSTEE The Trustee has pleasure in presenting its RepNt and Financ4al Statements for the year ended Seplember 2020. Princl al Actlvtties The objects of the Fund as Set out in the Trust Deed are wrteT alia. the relief of poverty among members of The Theosophir•l Society in England. their wKI(5wers. thildn dependorts arKI the as$islan¢e of 1 th8rities approved by the Natiorhal Coun(il of the Theosoph1 So(iety in Evbgknd. Flnanclal Results Total incoming resources arrwnled lo £32,33012019: £2.5141. Total resoUe$ expended aMCted to £6.28412019-. £4.135). Unre81ised Ik)s$esllgains on inve5knerts for1h8yearaWnl to1£14.702112019: £6,rK)31. The unrÈstrit#èd fvnd balan( all yèar-end amounted to £333.28212019.' £321.938). Constltutlon The Fund 15 govemed by the leS of a Tru51 Deed dated 17 Jarlljary 1959. Charttles Status The Fund w35 registered Tith the Charity Commi55x)n rm 22 Septerr)er 1. Admlnlstrators The Administrators who served throughout the yearwere.. Jenny Bak National Presmjent ofThe Theosophwal So(xety in EnslarKI Mrs Margarita Walker Arrer Re$erve$ oll Tlie kvel of reserves is gular moniiored by Ihe adminislralors and is cwrentty ccder9 to be reasonable gNen the nature and scate ol the charitable activities. Risk mana emeni The Trustee has exarnned the princapal areas ofthe CharW8 athtie5 3rKI has c¥5Jer9d the major riryks faced in each ofthese aas. Page 3
THE BENEVOLENT FUND OF THE THEOSOPHICAL SOCIETY IN ENGLAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 REPORT OF THE TRUSTEE IConLI Investments The Charity's Inveslrnenl Portfolio 15 rnainty invèsted In sewnliès, M & G Charibond and B8rcl8ys for income. During the year under review Ihere were uniealised losses of1£14,7021. The market value of investments at the year-end arTK)unted to £256,84312019." £271,545). Statement of trustee's res nsibilities Charity Law require5 the trustee to pPare financial statements for each financial year which gNe a true and fair view ol the state of affair5 01 the chaiity and of rts ffinanaal actwrties for that period and adequate dislinguish any mater1 special trusl or other restsicted fund of the charity. In preparing these, the twstee is reqUId to.'- select suilable accounting policies and Ihen appty them consistenty.. observe the rnethod5 and principles in the Charit$ SORP- make judgements and esb"males that are reasonable and pNdeni state whether applicab UK accounting stsnd8rds have been folk)wed. Subject to any material departure5 disdosed and explained in the finanual statements., and prepa the financsal staiemenls on Ihe gThng concern basi5 unles5 is inappropriate to presume that the charty W11 continLSe in operab"on. The trustee Is responsible for keeping proper accovntirtg records disdose with reasonable accuracy at any time the financial Fx)sition of the tharity and to enab li to ensure that the financial statement5 Cotnpty with the Charities Act 2011. the Charty IAcrA)unts Reports) ReguL4tK)n5 2008 and trust deed. It is also responsible for safeguaiding th8 asset5 of the chatity and hence laking reasonable sleps lor the prevention and detection of fraud and other irregularitses. The Report of the Trustees was approved by the Diredors of The Englhsh TheosoFthkal Trust Ltd on 0.4.. 0&.: VLI . and s*Jned on their behalf by. Jenry Baker Administiator Page 4
THE BENEVOLENT FUND OF THE THEOSOPHICAL SOCIETY IN ENGLAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 Inde la endent Examln•rfs Re rt to the frustee of the Benevolent Fund of The Theoso hlcal Socle In I report to the trustee on my examit)atKn of the finanual $talenntS of The BeYent FuThJ of the Theosophical Society In England (the chartiyl for the year ended 30 September 2020. Res onsibilities and basis of rp As the trustee of the tharity you are responsible for the Pr¢paTrI ol the finanrial statements In 0(danCe ¥th the requ1reThnts of Ihe Charities Acl 2011 {the 2011 Act). I report in respect of nTV examinatiC of the charity's finanua sLiiements carried out Lder secth)n 145 01 the 2011 Act. In carying out my examination I have followed all the applicabje Directions grven by the Charity ComnNssion under section 14515llbl of the 2011 Acf. ndè •nd•nt •xamln•Ps stst•m•nl Your attenuon Is drawn lo Ihe facilhat the charity has wepared financad ststennts in a(Urdan wlth Accounilng and Reporting by Charilie5 Preparing theIr8OUntS Fn aCrdan wlh the Finan(ial Reporling Standard applicable in the UK and Republic of Iietsnd IFRS 102) in weference lo Ihe AnI19 and Reporting by Charities.. Stal8rTpnl of Recotnmended PraCte i55ued on l AprA 2005 whth is ieferred to in the extant fegukI]S but has ncM been withdrawn. l understand that this has been done in orderfor finan1 staternents to ptovide 8 true and view in 8CCOfdanc8 with Generalty Arpted AcrA3unb"ng Prathce ellect for rewrting period5 beginnin9 on or after 1 January 2019. I have completed my eXanatIon. I ccfi thal no maiters have come to ffly attenlion in connection with the examination giving me lo believe that in any mateiial res1.. accounting records were not kept in respect of the charity as reqj ty 8ectK)n 130 of the 2011 Act.. or 2. Ihe financial slatemenls do rK>I acoyd wtih Ih05e record5'. or 3. Ihe financial slatefflents do not cornp ¥th the applI(Xb requwennts conceming the fomi and (x)ntent of accounis sel out in the Charities (Accounts and Reports) ReguiatKJns 2W8 other than any requiremenl that the accounts give a tnje and law wewwhh is not a matter conSided as part of an independent &xanMnab"on. I have no concerns and have cowE across no other matiers conntI)n with the eXanatiOn to which a(tention should be drawn in Ihis report in wder to enable a proper understanding of the ffinan¢ial stslements to be reached. Andrew Crook BA ACA Mercer & Hole 21 Lombard Street London EC3V 9AH Dats: 4 May.2021 Page 5
THEB NEVOLENT F ND FTHETH PHICA CIETY IN ENGLAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 20 sTATEmEr OF FINANCIAL ACTIVITIES General Fund 2020 2019 INCOME AND EXPENDI INCOMING RESOURCES tlonalK)ns and Gfft Aid Investment income Bank deposrt interest 25.C(JO 7.259 71 1,045 1,367 102 32,330 2.514 RESOURCES EXPENDED Grants to benefiaaiies Auditor5, remuneration Bank deposrt charges Insurance Sundry 3,010 1,440 74 760 1.000 2,695 1.440 TOTAL RESOURCES EXPENDED 6,284 4,135 NC RC 26,046 11,6211 OTHER RECOGNISED GAINS AND LOSSES Reali5ed and unrealised 9aingl1055esl on investment assets 114,7021 6,003 NET MOVEMENT IN FUNDS 11,344 4,382 Fund balance brou 1 October 2019 ht forward at 321,938 317,556 Fund balance carried forward 30Se tember 2020 £333,282 £321,938 The statement of finanaal acvits irtludes all gains and losses recognised In the yèar. AJI income and èxpèndituro dwive from continuin9 athvthes. Page 6
THE BENEVOLENT FUND OF THE THEOSOPHICAL SOCIE IN ENGLAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 BALANCE SHEET 2020 2019 IXED A SETS Investrnent8 256,843 271.545 CURRENT ASSETS Cash at bank 71.879 52,253 LIABILITIES.. AMOUNTS FALLING DUE WITHIN ONE YEAR 11.4401 {1.8601 NET CURRENT ASSETS 76.439 50.393 NET ASSETS £333282 £321,938 FUNDS- UNRESTRICTED General fvnd £333,282 £321.93B 04.05.91 The Finanal Slaternenls were approved by the Trusteè on ......................... and swJned on its behawby.. Jenny Baker Adnrrinistrator Page 7
THE BENEVOLENT FUND OF THE THEOSOPHICAL SOCIETY IN ENGLAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES Chari information The Benevolent Fund of the Theosoph1 Soriety in England is an unincorporated charity. The prinapal officè addres5 is 50 Glouce5teT Pl8(, Lorbdon. W1U 8E Accountin convention The fina1 statements have been prepared in accordance with the Fund's Trust tleed, thè Charitiès Act 2011 and "Accounting and Reporting for Charitie5'. Staiernenl of Rernrnended Practice applicable to charities preparing theiraccounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS1021" {as amended for ae(xbunb"ng periods commentyng from 1 J8nuaiy 20191. The Fund 15 a Publ Benefit Entty as defined by FRS 11Y2. The financial statemenis are prepared in stefling. whh is the hjnctKn currency of the Fund. Monetary amounts in these finanaal 5tatement5 are rounded lo the neaTe5t £1. The accounis have teen prepad uThJerthe htstorical costconvention. modified to indude investments at market value. The princjpal aOUntIng poliaes adopled are set oui below. oln Co At the time of approving the finanaal ststements, the trustee has a reaSonae expectation that the chaTty has adequate resour5 lo conlinue in operabonal existence for the foreseeable future. Thus, the truslee conlinlses to adopt the going concern basis ol accounting in prepaiing the )Inancial 5tatennt5. Investments InVestrrTrt5 are slated at market value at the balance sheet date and are held by the English Theosophical Trust Ltd a5 Trustee. The SOFA includes the net gains and losses arising on revaluations throughout the year. Incorni resource5 Cash ¢Jonattons and grfts a induded in fi[ li Ihe Income and Expertdite Account 35 500n as they are recewed. Gifts are valued by ieference to Iheir fflarket value at the timE of re(xipl. Investsllent incnrT 15 included in the Irwrre afKt EXpend[re Account on receipl. Resources ex ended Resources expended are recognised In the wiod in are incurred. Page 8
THE BENEVOLENT FUND OF THE THEOSOPHICAL SOCIEfY IN ENGLAND AL STATEMENTS YEAR ENDED 30 EPTEMBER 2020 NOTES TEME INVESTMENTS UOTED INVE TMEPs Holdlng Cost Market value Unreallsed M3rket Gainslllossesl value thls year 30.09.20 01.10.19 Bankefs Investment Trust PIC 25p Ord shares 1.599 14.687 15,676 Foreign & Colonial Inve5trnenl Trust PIC 25p Ord shares 2.146 1.599 15.172 15151 14.657 tan Investment Trust PIC 5p Ofd shares 1.599 10.5C (1,4501 9,050 M & G Ch8ribond Charities Fixed Interest Comrmn Invest Fund Inc Shares 20,508.614 25.rjyj 25.611 25.679 Barclay5 Investment Fund Varn)us 2LKI.0 205.57S 113.7941 191,781 £229.797 £271.545 {£14.7021£256,843 P8ge 9
ND F THE THEOSOPHICAL SOCIETY IN EN LAND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2020 NOTES TO THE FINANCIAL STATEMENTS CASH AT BANK 2020 2019 Cash al bank £77.879 t52,253 LIABILITIES.. AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals £1.440 £1.860 REALISED AND UNREALISED LOSSES ON INVESTMENT ASSETS Unreallseil bsses represent the decrease in value ol investments from Ihe date of original wrchase to the 30 September 2020. The decrease in market value of inve5trrEnts for the year under review amounted to 1£14.702112019'. £6.(M)3 increa5el. Page 10