> **Charity No: 213323** > **Company No: 503150** ## **THE FELLOWSHIP OF MEDITATION LIMITED (A CHARITABLE COMPANY LIMITED BY GUARANTEE)** ## **INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021** |**Income**
Membership Subscriptions
Gift Aid Tax Recoverable
Investment Income
Dividends and Income from Securities
Other Operating Income
Thank Ofering and Donations
Legacies
Conference and Guests
Covid 19 grants/contributions received
Rent Received
Merchandise Sales
Increase/(Decrease) in value of Stock held
Income from Solar Panels
**Expenditure**
Salaries and National Insurance Contributions
Accommodation:-
Conferences and Gatherings
General and Housekeeping
Establishment Charges:-
Council Tax and Water
Electricity and Gas
Insurance
Telephone
Maintenance and Depreciation:-
Repairs and Renewals
Gardening
Depreciation -
Freehold Property
Furnishings, Fittings &
Administration Expenses:-
Postage and Stationery
Printing and Advertising
Subscriptions
Sundry expenses
Covid 19 Expenses
Computer Expenses
Accountancy
Mercia Charges
Reimbursement of Council/Fellowship Leaders' travel
**Net Expenditure for the year**|**£**
255
940|**2021**
**£**
**£**
4,752
140
4,892
3,687
3,687
384
-
165
18,241
45
53
(14)
1,542
20,416
**28,995**
11,466


1,195




6,216




6,374








15,542
148
40,941
**(11,946)**|**2020**
**£**
**£**
**£**
4,583
131
4,714
6,982
6,982
785
16,726
190
10,100
670
7
(191)
1,566
29,852
**41,548**
10,658
(24)
461
437
2,103
3,648
1,528
1,314
8,593
24,132
1,478
1,268
90
25,085
1,441
3,041
217
509
2,561
513
2,678
5,067
16,026
866
63,548
**(22,000)**|**2020**
**£**
**£**
**£**
4,583
131
4,714
6,982
6,982
785
16,726
190
10,100
670
7
(191)
1,566
29,852
**41,548**
10,658
(24)
461
437
2,103
3,648
1,528
1,314
8,593
24,132
1,478
1,268
90
25,085
1,441
3,041
217
509
2,561
513
2,678
5,067
16,026
866
63,548
**(22,000)**|**2020**
**£**
**£**
**£**
4,583
131
4,714
6,982
6,982
785
16,726
190
10,100
670
7
(191)
1,566
29,852
**41,548**
10,658
(24)
461
437
2,103
3,648
1,528
1,314
8,593
24,132
1,478
1,268
90
25,085
1,441
3,041
217
509
2,561
513
2,678
5,067
16,026
866
63,548
**(22,000)**| |---|---|---|---|---|---| |||11,466


1,195




6,216




6,374








15,542
148|||| ||||||**41,548**





| ||1,712
2,144
1,511
849||2,103
3,648
1,528
1,314||| ||4,654
1,630
-
90||24,132
1,478
1,268
90||| ||977
2,242
261
582
732
2,460
2,736
5,552||1,441
3,041
217
509
2,561
513
2,678
5,067||| ||||||| ||||||63,548| ||||||**(22,000)**| ## **Net Expenditure for the year** The above is an extract from the Accounts for the year ended 31 December 2021. It is not considered expedient to send out the Accounts in their full statutory format due to their size and length. However, these can be inspected together with a schedule of investments at the Registered Office. Mrs M P Jose …................................................... Secretary Date …................. Mrs K Badley ….................................................. Council Member Date …................. Alan Rodgers …................................................... Advoco Accountants Date …................. **Charity No: 213323 Company No: 503150** ## **THE FELLOWSHIP OF MEDITATION LIMITED** ## **(A CHARITABLE COMPANY LIMITED BY GUARANTEE)** ## **BALANCE SHEET AS AT 31 DECEMBER 2021** |**BALANCE SHEET AS AT 31 DECEMBER 2021**|||| |---|---|---|---| |**Fixed Assets**
**Tangible Assets**
Freehold Property and alterations At Cost
Furnishings, Fittings & Equipment At Cost or Valuation
**Investments (At Market Value)**
**Current Assets**
Stocks
Debtors
Cash at Bank and in Hand
**Creditors**
**Amounts falling due within one year**
**Net Current Assets**
**Total Assets less Current Liabilities**
**Unrestricted Funds**
**General Fund**
Balance Brought Forward
Transfer (from) Income & Expenditure A/c
Realised Gain/(Losses) on Investments
**Balance Carried Forward**
Less
: Depreciation to date
Less
: Depreciation to date|**2021**
**£**
**£**
63,410
25,715
37,695
890
270
620
38,315
603,399
**641,714**
3,672
283
34,121
**38,076**
**(3,154)**
**34,922**
**676,636**
646,955
(11,946)
41,627
**676,636**|**2020**
**£**
**£**
63,410
25,715
37,695
890
180
710
38,405
565,906
**604,311**
3,687
108
41,711
**45,506**
**(2,862)**
**42,644**
**646,955**
655,483
(22,000)
13,472
**646,955**|| ||||| ||||**646,955**| ||||655,483
(22,000)
13,472| ||||**646,955**| The above is an extract from the Accounts for the year ended 31 December 2021. It is not considered expedient to send out the Accounts in their full statutory format due to their size and length. However, these can be inspected together with a schedule of investments at the Registered Office. Mrs M P Jose …................................................... Mrs K Badley ….................................................. Alan Rodgers …................................................... Secretary Date …................. Council Member Date …................. Advoco Accountants Date …................. Company registration number: 00503150 Charity registration number: 213323 # **THE FELLOWSHIP OF MEDITATION LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** Company registration number: 00503150 Charity registration number: 213323 |Reference and Administrative Details|1| |---|---| |Report of the council|2 to 3| |Independent Examiner’s Report|4| |Statement of Financial Activities|| |5|| |Balance Sheet|6| |Notes to the Financial Statements|| |7 to 15|| |Detailed Income and Expenditure Account|| |16 to 17|| |Schedule of Investments|| |18|| |Schedule of 5 Year Investment Details|19| |MERCER Investment Management Client Summary|| 20 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **Council** ## **Registered Office** **Company Registration Number** **Charity Registration Number** **Bankers** ## **Independent Examiner** ## **Investment Advisor** Mrs K Badley Dr V Bainbridge Mrs S Johnson Mrs M Jose Mr P C Renwick Mrs S E Renwick Rev B K Stephenson 8 Prince of Wales Road Dorchester Dorset DT1 1PW 00503150 213323 Barclays Bank plc 10 South Street Dorchester Dorset DT1 1BT Alan Rodgers Advoco 14a Albany Road Weymouth Dorset DT4 9TH Mercer Limited 1 Tower Place West London EC3R 5BU 1 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** The council, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2021. ## **Council members** Mrs K Badley Dr V Bainbridge Mrs S Johnson Mrs M Jose Mr P C Renwick Mrs S E Renwick Rev B K Stephenson ## **Structure, governance and management** ## _**Nature of governing document**_ The Fellowship of Meditation was incorporated on 5 January 1952 (Company Number 00503150). It is limited by guarantee. The affairs of the Fellowship are governed by its Memorandum and Articles of Association. The liability of the members (who are also directors of the company for the purposes of company law) in the event of the Fellowship being wound up is limited to a sum not exceeding £1. The Fellowship is registered with the Charity Commission (Registration number 213323). ## _**Recruitment and appointment of council**_ Any person if seeking the truth and ready and willing to confirm to the conditions of the membership is eligible to become a member. No person shall be admitted as a member of the Fellowship unless they are first approved by the council, who shall have full discretion as to the admission of any person as a member. Trustees are elected by members of the council at the Annual General Meeting, following a discussion of qualities the potential member can bring to the Fellowship and vote by the council accordingly. ## _**Organisational structure**_ Under the Memorandum and Articles of Association, responsibility for the management of the Fellowship and its assets is vested in the Members of the Council. The Fellowship is dependent upon the services of the Members of the Council who administers the charity and meet regularly, of which they give their time free of charge. 2 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## _**Public benefit**_ The Fellowship continued its policy of the promotion of contemplative meditation as a way of approaching The Divine Presence. This is communicated through notes to members newsletters and gatherings. Financial assistance is given to students and would-be students of contemplative mediation, not being members of the Fellowship, of insufficient means to attend the centres of mediation and its lectures, classes and gatherings. Conferences are held several times a year at various venues around the country, including:- Whalley Abbey, Holland House, Stanton House. The Council of Management meet regularly and are responsible for organising gatherings, retreats and teaching seminars, enquirer courses, the content of the monthly notes and adding to an already extensive circulating library as well as business matters including house repairs and publicity. The members confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Fellowship’s aims, objectives and future plans. The Council members confirm that they have completed the ‘Trustee Positions: automatic disqualification declaration’ as required under the Charities (Protection and Social Investment) Act 2016. The annual report was approved by the council of the Charity on ……………… and signed on its behalf by: ……………………………….. Rev B K Stephenson Trustee ……………………………….. Mrs K Badley Trustee 3 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** I report on the accounts of the company for the year ended 31 December 2021 which are set out on pages 1 to 20. ## **Respective responsibilities of trustees and examiner** The council (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The council consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention ## **Basis of independent examiner’s report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as a council concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: - (1) which gives me a reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ……………………………….. Alan Rodgers Advoco Chartered Accountants and Tax Advisers 14a Albany Road Weymouth Dorset DT4 9TH Date: ………………………… 4 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** |**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Gains/losses on investment assets
14
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
19
Total funds carried forward|**Unrestrict**
**ed**
**funds**
**£**
5,276
165
3,687
19,867
28,995
(5,552)
(35,389)
(40,941)
(11,946)
41,627
29,681
646,955
676,636|**Total**
**2021**
**£**
5,276
165
3,687
19,867
28,995
(5,552)
(35,389)
(40,941)
(11,946)
41,627
29,681
646,955
676,636|**Total**
**2020**
**£**
22,224
190
6,982
12,652| |---|---|---|---| ||||42,048| ||||(5,067)
(58,981)| ||||(64,048)| ||||(22,000)
13,472| ||||(8,528)
655,483| ||||646,955| All of the Charity’s activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 19. 5 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** |**Not**
**e**
**Fixed Assets**
Tangible assets
13
Investments
14
**Current assets**
Stock
15
Debtors
16
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
17
**Net current assets**
**Net assets**
**Funds of the Charity:**
**Unrestricted income funds**
Unrestricted income funds
19
**Total funds**|**2021**
**£**
38,315
603,39
9
641,71
4
3,672
283
34,121
38,076
(3,154
)
34,922
676,63
6
676,63
6
676,63
6|**2020**
**£**
38,405
565,90
6| |---|---|---| |||604,31
1| |||3,687
108
41,711| |||45,506
(2,862)| |||42,644| |||646,95
5| |||646,95
5| |||646,95
5| For the financial year ending 31 December 2021 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director’s responsibilities: - The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476; and - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements on page 5 to 20 were approved by the council, and authorised for issue on …………………. and signed on their behalf by: ……………………………….. Rev B K Stephenson Trustee 6 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ……………………………….. Mrs K Badley Trustee 7 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **1 Accounting policies** ## **Summary of significant accounting policies and key accounting estimates** The principal accounting policies in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## **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) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Fellowship of Meditation Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## **Income and endowments** Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract. ## _**Donations and legacies**_ Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. ## _**Deferred income**_ Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when: - The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the Charity has unconditional entitlement. ## _**Gift Aid**_ Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate. ## _**Investment income**_ Investment income is recognised on a receivable basis. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. All resources expended are inclusive of irrecoverable VAT. ## _**Raising funds**_ These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. 8 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## _**Charitable activities**_ Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Governance costs** These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustee’s meetings and reimbursed expenses. ## **Taxation** The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Tangible fixed assets** All fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. ## **Depreciation and amortisation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: **Asset Class Depreciation method and rate** Furnishings, fittings and equipment 10% straight line basis ## **Fixed asset investments** Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at year end. ## **Stock** Stock consists of books and leaflets held for resale and are valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables. 9 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **Trade creditors** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. ## **Fund accounting** All funds are unrestricted income funds that are available for use at the trustee’s discretion in furtherance of the objectives of the Charity. The funds may at the discretion of the members of the Council be expended for income or capital purposes. 10 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **2 Income from donations and legacies** |Donations and legacies;
Donations from individuals
Legacies
Subscriptions
Tax reclaimed
**3 Income from charitable activities**
Conference and guests
**4 Investment income**
Income from dividends;
Dividends receivable from listed investments
Interest receivable and similar income;
Interest receivable on bank deposits
Tax reclaimed|**Unrestricte**
**d**
**funds**
**General**
**£**
**Total**
**2021**
**£**
**Total**
**2020**
**£**
384
384
785
-
-
16,726
4,752
4,752
4,583
140
140
131| |---|---| ||5,276
5,276
22,224| ||**Unrestricte**
**d**
**funds**
**General**
**£**
**Total**
**2021**
**£**
**Total**
**2020**
**£**
165
165
190| ||**Unrestricte**
**d**
**funds**
**General**
**£**
**Total**
**2021**
**£**
**Total**
**2020**
**£**
3,687
3,687
6,982
-
-
-
-
-
-| ||3,687
3,687
6,982| 11 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **5 Other income** |**5 Other income**|| |---|---| |Merchandise sales
Rent received
Increase/(decrease) in stock
Income from solar panels
Covid 19 voluntary funds
Covid 19 grants received|**Unrestricte**
**d**
**Funds**
**General**
**£**
**Total**
**2021**
**£**
**Total**
**2020**
**£**
53
53
7
45
45
670
(14)
(14)
(191)
1,542
810
17,431
1,542
810
17,431
1,566
600
10,000| ||19,867
19,867
12,652| ## **6 Expenditure on raising funds** ## **Investment management costs** |**Investment management costs**|| |---|---| |Other investment management costs;
Amounts payable to investment managers
**7 Expenditure on charitable activities**
**Note**
Wages and salaries
Staf training
Conference and gatherings
Council tax
Water
Gas
Electricity – net of solar panel income
Insurance
Housekeeping
Repairs and renewals
Gardening
Telephone
Postage stationery and computer sundries
Miscellaneous
Members travel expenses
Printing and advertising
Depreciation of freehold property
Depreciation of fxtures and fttings
Governance costs
8|**Unrestricte**
**d**
**Funds**
**General**
**£**
**Total**
**2021**
**£**
**Total**
**2020**
**£**
5,552
5,552
5,067| ||**Unrestricte**
**d**
**funds**
**General**
**£**
**Total**
**2021**
**£**
**Total**
**2020**
**£**
11,466
11,466
10,658
69
69
-
255
255
(24)
1,533
1,533
1,373
178
178
730
1,532
1,532
2,775
612
612
873
1,511
1,511
1,528
940
940
461
4,654
4,654
24,132
1,630
1,630
1,478
849
849
1.314
977
977
1,441
3,967
3,967
4,300
148
148
866
2,242
2,242
3,041
-
-
1,268
90
90
90
2,736
2,736
2,678| ||35,389
35,389
58,982| 12 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **8 Analysis of governance and support costs** ## **Governance costs** |Accountancy
**9 Net incoming/outgoing resources**
Net outgoing resources for the year include:
Depreciation of fxed assets|**Unrestricte**
**d**
**funds**
**General**
**£**
2,736|**Total**
**2021**
**£**
**Total**
**2020**
**£**
2,736
2,678| |---|---|---| ||2,736|2,736
2,678| |||**2021**
**£**
**2020**
**£**
90
1,358| ## **10 Trustees remuneration and expenses** No members of the Council, nor any persons connected with them, have received any remuneration from the charity during the year. They give their time free of charge. They receive no fees for the provisions of their services to the Fellowship, although travelling expenses of £148 (2020 - £866) were reimbursed. There were no other transactions with related parties. ## **11 Staff costs** The aggregate payroll costs were as follows: |**Staf costs during the year were:**
Wages and salaries|**2021**
**£**
**2020**
**£**
11,466
10,658| |---|---| The monthly average number of persons (including senior management team) employed by the Charity during the year expressed as full time equivalents was as follows: ||**2021**||**2020**|| |---|---|---|---|---| ||**No**||**No**|| |Charitable activities||1||1| No employees received emoluments of more than £60,000 during the year. ## **12 Taxation** No tax was charged in the year (2020 - £nil). 13 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **13 Tangible fixed assets** |**Cost**
At 1 January 2021
At 31 December 2021
**Depreciation**
At 1 January 2021
Charge for the year
At 31 December 2021
**Net book value**
At 31 December 2021
At 31 December 2020
**14 Fixed asset investments**
Other investments
**Other investments**
**Cost or valuation**
At 1 January 2021
Revaluation
Additions
Disposals
At 31 December 2021
**Net book value**
At 31 December 2021
At 31 December 2020|**Furnishings**
**,**
**fttings and**
**freehold**
**property**
**£**
64,300|**Equipmen**
**t**
**Total**
**£**
**£**
31,601
95,901| |---|---|---| ||64,300|31,601
95,901| ||25,895
90|31,601
57,496
-
90| ||25,985|31,601
57,586| ||38,315|-
38,315| |||| ||38,405|-
38,405| |||**2021**
**£**
**2020**
**£**
603,399
565,906| |||**Listed**
**Investme**
**nts**
**Total**
**£**
**£**
565,905
565,905
41,627
41,627
311,082
311,082
(315,215)
(315,215
)| |||603,399
603,399| |||603,399
603,399| |||| |||565,906
565,906| 14 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** ## **15 Stock** |**15 Stock**|| |---|---| |Stocks
**16 Debtors**
Other debtors
**17 Creditors: amounts falling due within**
**one year**
Trade creditors
Accruals|**2021**
**£**
**2020**
**£**
3,672
3,687| ||**2021**
**£**
**2020**
**£**
283
108| ||283
108| ||**2021**
**£**
**2020**
**£**
112
-
3,0
42
2,8
62| ||3,154
2,862| ## **18 Charity status** The Charity is a Charity limited by guarantee and consequently does not have any share capital. Each of the council is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation. 15 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** |**19 Funds**
**Unrestricted funds**
**_Unrestricted general_**
**_funds_**
Unrestricted
income
funds
**Unrestricted funds**
**_Unrestricted general_**
**_funds_**
Unrestricted
income
funds|**Balance**
**at**
**Balance**
**at 1**
**Other**
**31**
**January**
**Incomin**
**g**
**Resourc**
**es**
**recognised**
**Decembe**
**r**
**2021**
**resource**
**s**
**expende**
**d**
**gains/**
**(losses)**
**2021**
**£**
**£**
**£**
**£**
**£**
646,955
28,995
(40,941)
41,627
676,636| |---|---| ||**Balance**
**at**
**Balance**
**at 1**
**Other**
**31**
**January**
**Incomin**
**g**
**Resourc**
**es**
**recognised**
**Decembe**
**r**
**2020**
**resource**
**s**
**expende**
**d**
**gains/**
**(losses)**
**2020**
**£**
**£**
**£**
**£**
**£**
655,483
42,048
(64,048)
13,472
646,955| ## **20 Analysis of net assets between funds** |Tangible fxed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**funds**
**Total**
**funds**
**£**
**£**
38,315
38,315
603,399
603,399
38,076
38,076
(3,154)
(3,154)| |---|---| ||676,636
676,636| ## **21 Related party transactions** The charity is controlled by the council members who are all directors of the company. There were no related party transactions in the year. 16 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** |**Income**
Membership Subscriptions
-
General Subscriptions
Income Tax Recoverable
Investment Income
-
Dividends and Income from Securities
Other Operating Income
-
Thank Oferings and Donations
Legacies
Conferences and Guests
Rent Received
Merchandise Sales
Increase/(decrease) in Value of Stock held
Income from solar panels
Covid 19 voluntary funds
Covid 19 grants received
**Expenses**
Salaries and National Insurance
Contributions
Staf training
Housekeeping
Conferences and Gatherings
Establishment Charges – page 17
Maintenance & Depreciation – page 17
Administration Expenses – page 17
Reimbursement of council members’/
fellowship leaders’ expenses – page 17
**Excess of (Expenditure) over Income**|**£**
4,752
140|**2021**
**£**
4,892
3,687
20,416|**£**
4,583
131|**2020**
**£**
4,714
6,982
30,353| |---|---|---|---|---| ||3,687||6,982|| ||384
-
165
45
53
(14)
1,542
810
17,431||785
16,726
190
670
7
(191)
1,566
600
10,000|| ||11,466
69
940
255
6,215
6,374
15,473
148||10,658
-
461
(24)
8,593
26,968
16,526
866|| |||28,995
40,941||42,049
64,048| |||||| |||(11,946)||(21,999)| 17 **THE FELLOWSHIP OF MEDITATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS** |**Establishment Charges**
Council Tax
Water
Electricity charge/(income)
Gas
Insurance
Telephone
**Maintenance and Depreciation**
Repairs and Renewals
Gardening
Depreciation – Buildings
Depreciation – Fixtures and Fittings
**Administration Expenses**
Postage, Stationery and Computer Sundries
Printing and Advertising
Accountancy - Advoco
Subscriptions
Sundry expenses
Mercia Charges
Covid 19 expenses
Computer expenses
**Reimbursement of council members’/fellowship leaders’**
**expenses**
Travel|**2021**
**2020**
**£**
**£**
1,533
1,373
178
730
612
873
1,532
2,775
1,511
1,528
849
1,314| |---|---| ||6,215
8,593| ||4,654
24,132
1,630
1,478
-
1,268
90
90| ||6,374
26,968| ||977
1,441
2,242
3,041
2,736
2,678
261
217
513
509
5,552
732
2,460
5,067
3,061
513| ||15,473
16,527| ||148
866| 18 **THE FELLOWSHIP OF MEDITATION LIMITED SCHEDULE OF INVESTMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** 19 **THE FELLOWSHIP OF MEDITATION LIMITED SCHEDULE OF 5 YEAR INVESTMENT DETAILS** _**FOR THE FIVE YEARS TO DATE**_ |Market value as at 31 December
Sales proceeds from investment disposals
Net income from investments
Interest from investments and bank
accounts
Tax reclaimed in the year
Investments purchased in the year|**2021**
**2020**
**2019**
**2018**
**2017**
**£**
**£**
**£**
**£**
**£**
603,399
565,90
6
584,83
5
512,14
3
627,860| |---|---| ||312,215
294,31
4
116,81
8
363,31
4
258,204
33,834
4,074
18,960
11,664
15,769
-
-
-
15
457
-
131
131
198
266| ||346,049
298,51
9
135,90
9
375,19
1
274,696| ||311,081
261,91
2
128,55
3
291,39
0
255,909| ## **Financial Position** The balance sheet shows the financial position of The Fellowship at a point in time, the year-end which is 31 December 2021. The total funds at 31 December 2021 were £676,636 compared to £646,955 as at 31 December 2020, an increase of £29,681. The reason for the increase in the total funds is because of the profit for the year, made by the investments. The normal operating loss is £11,946 (Income £28,995 Vs Expenditure £40,941). 20 THE FELLOWSHIP OF MEDITATION LIMITED JLT INVESTMENT MANAGEMENT CLIENT SUMMARY Client Summary 1st October 2021 10 31st December 2021 Mercer THE FELLOWSHIP OF MEDITATION R•f." NFEL001 Client Summary 30 Seplambar £ 41,46e.47 £ 29,087.15 31 Dac•m￿r % Valugllon £ 42.468.25 6e7% A818 ex J8P8n Eqult18B I Cash Europ8 Equits8B Fixe¢J Interest £ 33.502.43 5.26% £ 41,e98.$0 £ 164,281.92 £ 25,752.08 £ 31,271.84 £ 42,708.89 6.71% £ 162.839.10 25.57% Japan Equities Ll$le4 Infr831ruclure £ 24.864.82 3.87% £ 33.143.77 5.20% Other £ 128,048 05 £ 129.847 34 20.39% UK Eouilifrs US Equili¢s £ $5.877.11 É $9.064.34 9.27% £ 105.695.22 £ 108.613.65 17.06% Total £623,178.11 £636,842.19 100.00% Account Summary AGcoufil Vdlue °/0 VdludliD THE FELLOWSHIP OF MEDITATION- IAFEL001 D £ 636,842. 19 100.0 Total £636,841.19 100.00% 21 THE FELLOWSHIP OF fvIEDITATION LIMITED INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE FELLOWSHIP OF MEDITATION LIMITED I report on the ￿COUnts olthe company forlhe year ended 31 December 2021 which are sel out ¢n pages 1 to 20. Respective responsibllities of Irustgeg and examiner The council (who are also the directors of th& company for the purposes of company lawl ar& re5ponslble for th• preparation of the accounts. The counGil consider th81 an audil 1$ not required for this year under sethn 144{21 of the Charities 2011 Ithe 2011 Act) and that an independent Èxamination Is needed. Havino satisfied myself that the th8rity 1$ not subject to audit under company law and is eligible for independent examination. it is my responsibility lo.. examine the accounts under seth'on 145 of the 2011 Act., to foll¢)w procedure5 laid down in the gèrteral Dlrections given by the Charity Commisslon uThJer 8ection 145{5llbl ol the 2011 Act," and to sl*e wWhei partKul8r matters have cc¥ne lo my 8ttention Basls of independent èrdminèrfs report My examination was carried out in accordance with the general Direclions given by the Charity Commission. An exarnIn*￿n includes a review of the accounting records kept by the Charity arld a comparison of the accounts presented with those records. It also irKlude¥ consideralion ol any unusual items gr disclosures In the acwunts, and seeking èxplanatlOll8 from you as a couneil concerning any such matters. The procedures ￿dertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether Ihe accounts pr95ent a 'lrue and fair view, and the report 18 limiled lo those Inatters set out in the stslelnent below. Indepgndtnt examine￿5 statem•nt In ¢onnectitsn with rry examination, no matter ha5 come to my attention,. 111 which gives m¢ a reasonable cause to ￿lIeVe th* in any rllalerial wpect the requirements." to keep accounb'ng iecords in accordance with section 386 of the Companies Act 20C6', and lo prepare accounts whiGh accord with the accounting records, cornply wth the accounting requirem¢nls of section 3* olthe Compafties Act 21K)6 and with the methods and principles ol the Statamenl ofRecommerKled Practice.. Acwunting and Reporting by Charities have not been met 12} lo which, in my opinion. att&ntion shoukj be drawn in order to enable a proper under8tsnding of the accounts to be r&aGhed. Alan Rodgers Advoco Chartered ACC{￿Ntants and Tax Aifvi8ers 14a Albany Road Weymouth Dorset DT4 9TH Date".