Company number 00678027 ## **SUBUD BRITAIN** ## **AUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** Waugh & Co Licensed Accountants 51 High Street, Arundel, West Sussex BN18 9AJ UK waughaccountants.co.uk - 01903 88 55 06 **SUBUD BRITAIN FOR THE YEAR ENDED 31 DECEMBER 2024** ## **INDEX** ||**Page**| |---|---| |Trustees and Directors Annual Report|1 - 5| |Report of the Auditors|6 - 7| |Statement of Financial Activities and Income and Expenditure|8| |Balance Sheet|9| |Statement of Cash Flows|10| |Notes to the Accounts|11 - 21| **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT** **FOR THE YEAR ENDED 31 DECEMBER 2024** The trustees and directors present their annual report with the accounts of the charity for the year ended 31 December 2024. ## **REFERENCE AND ADMINISTRATIVE DETAILS** The name of the charity is Subud Britain. Charity registration number 233282. Scottish charity registration number SC039009 Company registration number 678027, registered in England. Registered office: 51 High Street, Arundel, West Sussex BN18 9AJ ## **TRUSTEES AND OFFICERS** The Trustees in office in the year and in the period to the date of the approval of the accounts were: Chair Peter Hull appointed at Congress 19.8.24 Colin Matthews resigned at Congress 19.8.24 Regional chairs South East Vacant East Anglia Hassanah Wilson resigned 3.6.24 East Anglia Rashid Rogers appointed 30.6.25 South West Joanna Lassalle appointed 18.8.24 Thames Valley James Robertshaw resigned 25.2.24 Scotland & NE England Vacant North Peter Hull appointed 30.4.24, resigned 19.8.24 John Sheard appointed 30.11.24 London Hubert Rogers resigned 1.6.25 Non-regional trustee Hardin Tibbs appointed 18.8.24, resigned 30.1.25 The Trustees comprise the National Council Chair and the Regional Chairs. All Trustees are members of National Council and are also the Directors of the company. The National Executive officers during the year and in the period to the date of the approval of the accounts were: National Secretary Khairani Salem resigned 1.2.25 National Secretary and Helper Secretary Lorna Dowson-Colins appointed 30.6.25 National Treasurer Aleena Flanders Other officers during the year were: Committee Councillor Stephen Gonsalves appointed 19.08.24 Archivist Solihin Garrard Health and Safety officer John Sheard HR Manager Vacant Insurance Manager Edward Baker **BANKERS** CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ **AUDITORS** Westcotts (SW) LLP Timberly, South Street, Axminster, Devon, EX13 5AD **ACCOUNTANTS** Waugh & Co Licensed Accountants 51 High Street, Arundel, West Sussex BN18 9AJ Page 1 ## **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The governing documents of the charity are the Memorandum and Articles of Association and the Regulations. The charity is constituted as a limited company, limited by guarantee. Subud Britain is made up of seven Regions and thirty Groups. Each Group has a committee of a chairman, a secretary and a treasurer. The Group Chairs in a Region form the Regional Council, together with the Regional Chair. The Regional Chairs and the National Chair are the Trustees and Directors of Subud Britain and form the National Council. The legal Members of Subud Britain are the Group Chairs and the Trustees. They have voting powers at the annual Congress. Each Group is made up of the general members in the area of the Group. There is an Executive to look after the day to day administration. The Regional Chairs / Trustees are appointed by each Region. Any Subud member in the Region is eligible. The National Chair is appointed at the annual Congress. Any Subud member of Subud Britain is eligible for this position. New Trustees are given the Charity Commission booklet on the responsibilities of charity trustees. Members of the Executive assist the trustees with the experience and expertise gathered by Subud Britain on charity and company administration. Where specific detailed legal advice is needed, Subud Britain uses a charity specialist firm of solicitors. Subud is an international organisation. There are nine Zones covering the world. Subud Britain is a member of Zone 3, which is broadly south western Europe. The National Chair of each country in a Zone is a member of the Zonal Council. The chairs of the Zones are called Zonal representatives and they form the World Subud Council with the Chair of the World Subud Association. Subud Britain is connected through its members with Susila Dharma Britain (SDB), a separate charity which works to relieve poverty and sickness and to advance education and other charitable purposes for the benefit of the community in general. SDB does this by supporting, encouraging and monitoring humanitarian and social projects initiated by Subud members living in those communities. Subud Britain has a wholly owned subsidiary company, The Amadeus Centre Limited, which manages, promotes and rents The Amadeus Centre, the Subud Centre in Central London. The major risks to which the charity is exposed, as identified by the Trustees, have been reviewed, and procedures have been established to manage those risks. ## **Administration and compliance** The Charity Commission concluded a review in 2017 and agreed that Subud Britain met the criteria for retaining our charitable status. Changes to our Articles of Association in line with the Charity Commission’s recommendations were agreed by our Trustees/Directors and were approved at the AGM in 2018. They are reflected in the ‘Objects’ set out later in this document. We are currently reviewing our property portfolio's management and compliance processes. Page 2 **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** ## **OBJECTIVES AND ACTIVITIES** ## **Objects** The main object of Subud Britain is the advancement of religion by the promotion and advancement of the aim and principles of the worship of God known as Susila Budhi Dharma as expressed in the Declaration set out in Clause 2 of the Articles of Association. ## **Aims** Subud Britain has endorsed the aims of the World Subud Association. The main aims are: - To facilitate the worship of Almighty God through the Latihan Kejiwaan of Subud and to provide for the other needs of the Subud membership. - To preserve the practice of the Latihan Kejiwaan so that it will remain available to people - everywhere in the form in which it was originally practised under the guidance of - Muhammad Subuh Sumohadiwidjojo (known as Bapak). - To protect the good reputation of Subud. - To encourage peace, harmony and understanding between peoples regardless of their ethnic origin or religion. - To make available information concerning the Latihan Kejiwaan of Subud. ## **Activities during the year** When planning our activities for the year the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. ## The principal activities during the year were: · The provision and maintenance of latihan [worship] facilities for groups and members throughout the country. · Helper [pastoral] care and support of our members in their practice of the latihan. To support this work two Helper Weekends have been held which were open to all Subud helpers to attend in order to deepen their experience of the latihan [worship] and develop their capacity to be able to assist members. A Helpers' Secretary assists the helpers in their work. We have email links to all our active Helpers. - The provision and maintenance of our Subud Britain website providing information and access to Subud for the general public as well as information for our membership. · The monthly publication of 'The Journal' which provides information and a forum for sharing for our members as well as extracts from the talks and guidance of Bapak. This is now available to all members free online as well as printed editions distributed to members and groups. There is a Digest available in print format every month. - On behalf of SPI (Subud Publications International), members in this country assisted in the translation, manufacture and distribution of Bapak's talks via books, CDs and DVDs. · Attention was paid to our Subud Britain Archives to collate and preserve the history of the development of Subud in this country for future generations. We have a part-time paid Archivist who has been very active in raising awareness of this need amongst our members as well as ensuring the cataloguing and safe storage of valuable documents. Page 3 ## **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Volunteers** All the charitable activities of Subud Britain are carried out by volunteers. These include: the organisational committees at Group, Regional and National levels; the corresponding helper groups at each level; Subud Enterprises Services; Subud Youth Association; Subud International Cultural Association; Subud Families Association; Subud International Health Association; Congress. ## **FINANCIAL REVIEW** Each Group and Region set a budget for the year. The National budget for 2024 was set at the 2023 Congress. The 2024 National management accounts, which do not include Group or Regional accounts, showed a deficit of £776 (2023 a surplus of £645,106) against a budget surplus of £nil (2023 £nil as well). The Statement of Financial Activities and Income and Expenditure shows an overall net deficit for the year of £358,735 (2023 a surplus of £683,504), mainly due to refurbishment costs of Lewes Subud Centre. The bank balance position of Subud Britain as a whole remains strong. The bank balances held by the Groups amounted to £381,808 (2023 £638,892), the Regions £22,247 (2023 £29,094) and at National level, which include Restricted and Designated funds balances of £116,452 (2023 £173,107). The overall total of bank balances was £520,508 (2023 £841,094). ## **Reserves policy** Free cash reserves held at Group, Regional and National levels are all maintained at three months average expenditure. When computing free cash Groups who occupy Subud Britain-owned property, may from time to time set aside funds for planned major repairs or renovation. Free cash reserves at 31 December 2024 were £288,662 (2023 £104,657). ## **Funding sources** Principal funding sources continue to be donations from Subud members and the letting out of Subud owned properties during times when they are not being used by Subud. Donations made under Gift Aid by tax paying members benefit the charity with an extra £25 tax refund for every £100 donated. Gift Aided donations from members in the year totalled £85,826 with a further tax refund claimed of £21,456 under the Gift Aid scheme, totalling £107,282 (2023 had donations of £86,198 with a tax refund claimed of £21,549, totalling £101,705). Legacies were £3,200, a legacy from Laura Woods of Harold Hitchcock and Leonard Hitchcock paintings, auctioned to members at the AGM in 2024 (2023 £50,000 (Robert Clark)). Other donations from individuals totalled £146,677 (2023 £53,615). There was £16,500 rent received from the Amadeus Centre Ltd (Central London) (2023 £18,000). Page 4 ## **SUBUD BRITAIN** ## **TRUSTEES AND DIRECTORS ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** ## **DIRECTORS' RESPONSIBILITIES** The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud. In so far as the directors are aware: - there is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are not aware, and - the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. ## **AUDITORS** The Auditors, Westcotts (SW) LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting in accordance with article 8A(vi)(c) of Subud Britain's articles of association. The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Signed on behalf of the board of directors Peter Hull Trustee & Chair Approved by the Board of Directors: Dated 23 July 2025 Page 5 **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES AND MEMBERS OF SUBUD BRITAIN FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Opinion** We have audited the financial statements of Subud Britain (the 'charity') for the year ended 31 December 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees' report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006, the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees' remuneration specified by law are not made; or - **∙∙∙** - we have not received all the information and explanations we require for our audit. Page 6 INOEP&4DFNT AWTQIS. 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ÈvÈn though we thwg piopeTly p￿rne¢ and pertormed owovait in¢CcwJmcewihoLrdillngslm￿I￿. In onyoudil. IhÉr8 r*moin&o hytrErrstolnon-det?cbLKboI ￿e9￿￿li$s. ¢5 th*e moy involye collwion. forgery. Inlent￿ntsI rniyewe5enloltonk thè ov@￿e0f intemoi contro15. Yle a￿ not resptybiblts loiprevenlng nonn EX13 SAD Pag¢ 7 ## **SUBUD BRITAIN** ## **STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** |Note
**INCOME AND ENDOWMENTS**
Incoming resources from generated funds
Donations and legacies
Other trading activities
Investment income
Incoming resources from charitable activities
Total incoming resources
3
**EXPENDITURE**
Charitable activities
4
Total resources expended
Net incoming resources before transfers
**TRANSFERS**
Gross transfer between funds
9
**NET INCOME (EXPENDITURE) FOR THE YEAR**
**OTHER RECOGNISED GAINS**
Gains (losses) on investment assets
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
Total funds brought forward
Total funds carried forward
18|Unrestricted
Funds
270,725
10,266
325,267
606,258
757,010
757,010
(150,752)
(21)
(150,773)
-
(150,773)
1,700,383
1,549,610|Restricted
Funds
20
20
216,731
216,731
(216,711)
21
(216,690)
-
(216,690)
1,671,305
1,454,615|Total Funds
2024
270,725
-
10,266
325,287
606,278
973,741
973,741
(367,463)
-
(367,463)
-
(367,463)
3,371,688
3,004,225|Total Funds
2023
203,320
-
(650)
1,121,007
1,323,677
678,517
678,517
645,160
-
645,160
(919)
644,241
2,727,447
3,371,688| |---|---|---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Page 8 ## **SUBUD BRITAIN BALANCE SHEET AS AT 31 DECEMBER 2024** |Note
**FIXED ASSETS**
Tangible assets
10
Investments
11
**CURRENT ASSETS**
Debtors
13
Cash at bank and in hand
14
**CREDITORS: amounts falling due**
**within one year**
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS: amounts falling due**
**after more than one year**
15
**NET ASSETS**
**THE FUNDS OF THE CHARITY**
Unrestricted income funds
Restricted income funds
18|2024
2,524,576
15,897
2,540,473
800
520,508
521,308
(33,437)
487,871
3,028,344
(24,119)
3,004,225
1,549,610
1,454,615
3,004,225|2023
2,551,249
15,896
2,567,145
800
841,094
841,894
(11,657)
830,237
3,397,382
(25,694)
3,371,688
1,700,383
1,671,305
3,371,688| |---|---|---| Signed on behalf of the Board of Directors Peter Hull Trustee & Chair Approved by the board of directors on: 23 July 2025 Page 9 **SUBUD BRITAIN STATEMENT OF CASH FLOWS** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** |**Cash flows from operating activities**
Net cash income/(expenditure)
**Adjustments to cash flows from non-cash items**
Depreciation
Gain/(loss) on disposal of property, plant and equipment
Dividends received
(Gain)/loss from changes in fair value of investments
**Working capital adjustments**
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
**Net cash (used in)/provided by operating activities**
**Cash flows from investing activities**
Payments for property, plant and equipment
Proceeds from sale of property, plant and equipment
Proceeds from sale of investments
**Net cash generated from investing activities**
**Cash flows from financing activities**
Repayments of loans and borrowings
**Net cash generated from financing activities**
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at 1 January**
**Cash and cash equivalents at 31 December**|2024
(367,463)
26,673
-
-
-
-
21,780
(319,011)
-
-
-
-
(1,575)
(1,575)
(320,586)
841,094
520,508|2023
644,241
17,945
(775,676)
(360)
920
46,682
1,280
(64,968)
(872,761)
960,786
34,453
122,478
(3,572)
(3,572)
53,938
787,156
841,094| |---|---|---| Page 10 **SUBUD BRITAIN** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## 1. **GENERAL INFORMATION** The charity is a private company limited by guarantee, registered in England & Wales and a registered charity in England & Wales as well as Scotland. The address of the registered office is: 51 High Street, Arundel, West Sussex, BN18 9AJ ## 2. **ACCOUNTING POLICIES** ## **Accounting conventions and basis of preparation** The accounts have been prepared in accordance with: (a) FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) (b) The Charities Act 2011 (c) the historic cost basis of accounting, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income and expenditure. The financial statements are prepared in Sterling which is the functional currency of the entity. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. ## **Incoming resources** All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: - Voluntary income is received by way of donations, gifts and grants and is included in full in the Statement of Financial Activities. Grants where entitlement is not conditional on the delivery of a specific performance of the charity are recognised when the charity becomes unconditionally entitled to the grant. - Investment income is included when receivable. - No amounts are included in the financial statements for services donated by volunteers. ## **Resources expended** All expenditure is accounted for on an accrual basis. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates. The following specific policies are applied to particular categories of expenditure: - 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 include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. ## **Operating leases** Rentals payable under operating leases are charged against income on a straight line basis over the lease term. ## **Consolidation** The company and its subsidiary comprise a small group. The company has therefore taken advantage of the exemption conferred by S248 of the Companies Act 1985 not to prepare group accounts. ## **Cash flow** The accounts include a cash flow when income is over £500,000pa. Otherwise not since the company, as a small reporting entity, is exempt from the requirements to prepare such a statement under Financial Reporting Standard 102 Section 1A for smaller entities. Page 11 **SUBUD BRITAIN** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **Tangible fixed assets** Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life. Depreciation of freehold properties is provided at 1% of the cost. Amortisation calculated by reference to the unexpired portion of leases of the leasehold properties is charged to the property fund. ## **Unlisted investments** Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. ## **Tax recoverable** Tax recoverable relating to Gift Aid income is taken into account in the year in which it is received. **Valuation of investments** Investments held as fixed assets are shown at current valuation. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their very nature will rarely equal the related actual outcome. ## **Financial instruments** A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financin transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. ## **Limited by Guarantee** Subud Britain is a company limited by guarantee and accordingly does not have any share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1, to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceased to be a member. Page 12 ## **SUBUD BRITAIN** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## 3. **INCOMING AND ENDOWMENTS** |**2024**
Incoming resources from generated funds
Donations and legacies
Gift Aid donations
Other donations
Grants
Other trading activities
Fund raising
Investment income
Interest
Incoming resources from charitable activities
Congress
Hall letting
Surplus on freehold disposal
Other income
Total Incoming Resources|**Unrestricted**
**Funds**
107,282
149,877
13,566
270,725
-
10,266
10,266
13,261
310,867
1,139
325,267
606,258|**Restricted**
**Funds**
-
-
-
20
20
20|**Total Funds**
**2024**
107,282
149,877
13,566
270,725
-
-
10,266
10,266
13,261
310,867
-
1,159
325,287
606,278|**Total Funds**
**2023**
101,705
101,615
203,320
-
-
(650)
(650)
18,432
325,702
775,676
1,198
1,121,007
1,323,677| |---|---|---|---|---| Page 13 **SUBUD BRITAIN** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** |4.
**CHARITABLE ACTIVITIES**
**2024**
Donations:
World Subud Association & Zonal
contributions
Property:
Insurance
Repairs & maintenance
Cleaning
Light & heat
Rent
Rates
Water
Household & garden
Interest paid
Other direct charitable expenditure:
Directories
Bookkeeping
Management Fees
Helper expenses
Wings expenses not funded
Publications
Refreshments
Archives
Other charitable costs
Journal publishing
Journal Digest publishing
Subud Voice contribution
Marketing
National office
Committee
Congress costs
Telephone
Bank charges
Gift Aid administration
Post, stationary & printing
Computer costs
Charitable donations
SICA activities
SYA activities
SYFA activities
Travel international
World Congress travel expenses
Loudwater Farm lease rent
Depreciation of freehold property
Support Costs - See note 5
Total charitable activities|Unrestricted
Funds
33,500
33,500
16,421
282,576
23,252
62,809
90,678
11,924
9,424
5,158
2,289
504,531
965
2,487
59,811
6,373
21
96
1,522
7,141
2,932
2,160
50
1,380
1,496
1,247
26,084
21,403
4,999
1,698
1,072
747
3,304
750
586
10,607
28,640
187,572
31,407
757,010|Restricted
Funds
-
189,752
189,752
144
102
60
26,673
26,979
-
216,731|Total Funds
2024
33,500
33,500
16,421
472,328
23,252
62,809
90,678
11,924
9,424
5,158
2,289
694,283
965
2,487
59,811
6,373
21
96
1,522
7,141
2,932
2,160
50
1,380
1,496
1,247
26,084
21,403
4,999
1,698
1,072
747
3,304
750
144
102
60
586
10,607
28,640
26,673
214,551
31,407
973,741|Total Funds
2023
34,784
34,784
18,212
206,482
14,914
64,210
84,205
6,180
5,419
6,741
2,717
409,079
213
814
54,709
6,138
102
499
8,418
2,098
2,160
558
1,080
7,181
30,049
25,869
4,354
1,237
1,373
151
1,539
361
60
110
28,640
17,945
195,656
38,998
678,517| |---|---|---|---|---| Page 14 ## **SUBUD BRITAIN** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## 5. **SUPPORT COSTS** |Audit
Accountancy
Legal and professional fees
Trustee meetings|Unrestricted
Funds
7,920
12,924
500
10,063
31,407|Restricted
Funds
-
-
-
-
-|Total Funds
2024
7,920
12,924
500
10,063
31,407|Total Funds
2023
10,351
12,372
(939)
17,213
38,998| |---|---|---|---|---| ## 6. **TRUSTEES REMUNERATION AND EXPENSES** There is no remuneration paid to the Trustees. |Trustee expenses were paid where appropriate and if claimed by individual Trustees.
During the year expenses were paid to 3 Trustees (2023 - 2)
Expenses comprised:
UK meetings travel & accommodation
World Congress, Indonesia July 2024
Subud Britain Congress fees
Other
7.
**STAFF COSTS**
Gross salaries
Employers National Insurance
The average number of part time staff during the year
No employees received employee benefits exceeding £60,000 during the year.
8.
**AUDITORS REMUNERATION**
Fees payable for the audit of the financial statements
Fees payable to the charity's auditor for other services
9.
**GROSS TRANSFER BETWEEN FUNDS (see also Note 18)**
2024
General Fund
16,102
Congress
(16,123)
Perm Endow savings account
-
SICA
21
PPM
-
-
Net movement
-|2024
1,266
2,527
537
-
4,330
2024
20,354
-
20,354
1
2024
7,920
£nil
12,904
18,491
(34,453)
3,058|2023
480
891
-
28
1,399
2023
19,275
-
19,275
1
2023
10,351
£nil
2023
-
-| |---|---|---| Page 15 **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **SUBUD BRITAIN** ## 10. **TANGIBLE ASSETS** **----- Start of picture text -----**
2024 2023
Summary:
Freehold property 2,515,026 2,541,699
Leasehold property 9,550 9,550
2,524,576 2,551,249
Freehold property Cost Depreciation Net Book Value
B/F Additions C/F B/F Charge Disposal C/F 31-Dec-24 31-Dec-23
(Disposals)
Barnet 12,230 12,230 (854) (123) (977) 11,253 11,376
Bradford 19,246 19,246 (1,344) (192) (1,536) 17,710 17,902
Canterbury 62,564 62,564 (4,382) (626) (5,008) 57,556 58,182
Central London 797,777 797,777 (55,853) (7,978) (63,831) 733,946 741,924
Lewes 872,761 872,761 - (8,728) (8,728) 864,033 872,761
Liverpool 5,648 5,648 (392) (56) (448) 5,200 5,256
Manchester 439,541 439,541 (30,766) (4,395) (35,161) 404,380 408,775
Perth 340,128 340,128 (23,807) (3,401) (27,208) 312,920 316,321
Reigate 13,862 13,862 (973) (139) (1,112) 12,750 12,889
Sheffield 2,420 2,420 (168) (24) (192) 2,228 2,252
Tunbridge Wells 101,138 101,138 (7,077) (1,011) (8,088) 93,050 94,061
2,667,315 - 2,667,315 (125,616) (26,673) - (152,289) 2,515,026 2,541,699
**----- End of picture text -----**
The property at Canterbury is used as security for bank borrowings. There were no sales or purchases of property in the year. ## **Leasehold property** |Cost at 31-Dec-2023
Disposals
Cost at 31-Dec-2024
Amortisation at 31-Dec-2023
Disposals
Amortisation at 31-Dec-2024
Net book value at 31-Dec-2024
Net book value at 31-Dec-2023|Bristol
9,550
-
9,550
-
-
-
9,550
9,550|Norwich
27,700
-
27,700
27,699
-
27,699
1
1|Total
37,249
-
37,250
-
27,699
-
27,699
-
9,551
-
-
9,550| |---|---|---|---| In the opinion of the directors the current market value of the freehold and long leasehold properties is in excess of £4,750,000. Page 16 ## **SUBUD BRITAIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**INVESTMENTS**
**Unlisted investments:**
Oakenhall Ltd
ordinary £1 shares - 15,385 shares
**Listed investments:**
Asiamet Resources Ltd - 60,614 shares
**Subsidiary undertaking:**
The Amadeus Centre Ltd
ordinary £1 shares
**Overall total:**
Market Value at 31-Dec-2023
Additions
Disposals
Net investment gain (loss)
Market Value at 31-Dec-2024
Historical cost at 31-Dec-2024|2024
15,385
15,385
509
509
2
15,896
15,896
-
15,897
16,845|2023
15,385
15,385
509
509
2
15,896
50,908
361
(34,453)
(920)
15,896
16,845| |---|---|---| ## 11. **INVESTMENTS** ## 12. **SUBSIDIARY COMPANY** The wholly owned subsidiary, The Amadeus Centre Ltd, is incorporated in England. The subsidiary manages, promotes and rents the Central London group property, The Amadeus Centre. At 31 December 2023, the latest date for which accounts are available, the aggregate of the share capital and reserves of The Amadeus Centre Ltd amounted to a deficit of £8,523. |13.
**DEBTORS**
Trade debtors
Other debtors
14.
**CASH AT BANK AND IN HAND**
National accounts and Restricted Funds
Group & Regional accounts|2024
-
800
800
116,453
404,055
520,508|2023
-
800
800
173,107
667,987
841,094| |---|---|---| Page 17 ## **SUBUD BRITAIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** |15.
**CREDITORS**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans (secured)
16
Taxation and social security
Other creditors
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
bank loans (secured)
16
Total Bank loans outstanding
- repayable between 2-5 years
- repayable over 5 years
16.
**LOANS AND BORROWINGS**
Bank loans (secured)
Non-current loans and borrowings
Current loans and borrowings|2024
3,864
29,573
33,437
24,119
15,456
8,663
24,119
27,983
24,119
3,864
27,983|2023
3,864
207
7,586
11,657
25,694
15,456
10,238
25,694
29,558
25,694
3,864
29,558| |---|---|---| The bank loan is secured on the Canterbury property. ## 17. **RELATED PARTY TRANSACTIONS** Subud Britain is a voting member of the World Subud Association (WSA). In the year Subud Britain made contributions of £27,000 (2023 £27,000) to WSA. A management fee of £20,000 was paid to Andrew Holloway, Chair of the South Downs Group, for overseeing the Lewes refurbishment works. Page 18 **SUBUD BRITAIN** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## 18. **THE FUNDS OF THE CHARITY** |**Unrestricted funds**
General fund
Congress
PPM
**Total Unrestricted funds**
**Restricted funds**
SYA
SYFA
SICA
Archives
Property
Lewes refurbishment
**Total Restricted funds**
**Total funds**|Total funds
brought
forward
1,667,648
18,433
14,303
1,700,383
8,562
4,067
120
9,824
1,458,980
189,752
1,671,305
3,371,688|Incoming
resources
590,567
13,261
2,430
606,258
8
9
3
-
-
-
20
606,278|Outgoing
resources
(660,898)
(15,571)
(80,542)
(757,011)
(102)
(60)
(144)
-
(26,673)
(189,752)
(216,731)
(973,742)|Transfers
between
funds
16,102
(16,123)
-
(21)
-
-
21
-
-
-
21
-|Gain
(Loss) on
investments
-
-
-
-
-
-
-
-
-
-
-
-|Total funds
carried
forward
1,613,419
-
(63,809)
1,549,610
8,468
4,016
-
9,824
1,432,307
-
1,454,615
3,004,225| |---|---|---|---|---|---|---| ## **Key:** SYA - Subud Youth Association SYFA - Subud Youth & Families Association SICA - Subud International Cultural Association WSA - World Subud Association PPM - Property Purchase & Maintenance Fund Lewes refurbishment - for Lewes Subud Centre (was Lewes New School) See Note 19 for information on each fund. Page 19 **SUBUD BRITAIN** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** 19. **RESERVES / FUNDS INFORMATION** ## **Property Purchase & Management Fund (previously called Capital Fund)** Bequests received by Subud Britain are placed in the Fund. The fund is used to assist with the purchase or major repair of properties either as a direct contribution to the cost or as a loan. ## **Congress** Any surplus made on Congress may be carried forward towards to the cost of the following year's Congress. **Property** Funds raised for the purchase of property. These funds have all been used for that purpose and the fund balance is held in property and not in available cash. As the purpose of these funds has been fulfilled, the proceeds of any property sale are placed in the General fund. It is a policy of Subud Britain that these proceeds will then be available to the Group or Region who were using the property to enable them to buy another property. If no property has been purchased within 2 years of the sale then a review is carried out with the Group or Region to determine if the funds are still required for that purpose. ## **SICA** SICA is the Subud International Cultural Association, in Britain. SICA encourages, facilitates and co-ordinates the inner creative ability of all Subud Britain members and is one of the vehicles for taking Subud into the world. SICA raises its funds from donations and cultural activities. ## **Subud Youth** Subud Youth organises activities and events for young people in Subud Britain. ## **Archives** This fund is to support the work of the Subud Britain archives to collate and preserve the history of the development of Subud in this country for future generations. ## **SYFA** Subud Youth & Families Association organises activities and events for youth and families in Subud Britain. **WSA** The World Subud Association is the umbrella organisation for the world wide Subud community, which includes 54 member countries. Subud Britain is a member country of the World Subud Association. ## **Lewes Subud Centre (was Lewes New School)** A property purchased in 2023. The fund held residual donations towards refurbishment until spent in the year. The money of the fund was held in a bank account controlled by Lewes Group. |**NATIONAL CONTRIBUTIONS**
Contributions by the Regions to the National funds were as follows:
Region:
South East
East Anglia
South West
North
Scotland
London
Thames Valley|2024
30,900
8,950
31,800
7,000
2,000
12,000
9,050
101,700|2023
20,800
7,700
17,000
4,000
3,700
12,000
7,800
73,000| |---|---|---| 20. **NATIONAL CONTRIBUTIONS** Page 20 ## **SUBUD BRITAIN** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024** |21.
**NATIONAL CONGRESS**
Receipts
Costs
Cost of Congress & Gathering
Officers' fees and expenses
Net cost to Subud Britain|2024
13,261
13,113
2,458
15,571
2,310|2023
27,932
46,158
7,642
53,800
25,868| |---|---|---| The 2024 Congress was held at Lewes Subud Centre (2023 - Stoke College). ## 22. **ANALYSIS OF NET ASSETS BETWEEN FUNDS** |Tangible assets
Investments
Net current assets
Creditors falling due after more than one year|Unrestricted
funds
1,092,269
15,897
465,563
(24,119)
1,549,610|Restricted
funds
1,432,307
-
22,308
-
1,454,615|Total
funds
2,524,576
15,897
487,871
(24,119)
3,004,225| |---|---|---|---| ## 23. **CONTROLLING PARTY** The charity is controlled by the Board of Trustees. ## 24. **OPERATING LEASE COMMITMENTS** At 31 December 2024 the charity had annual commitments under a 9-year operating lease at Loudwater Farm, at £9,585 per quarter, as follows: |From 22 May 2020
Expiry date: 30 September 2029
Within one year
Between one and five years
Over five years
Jan24 to Sep29 taken to be 6 years|Years
1
4
1
6|2024
2023
38,338
27,000
153,353
108,000
28,754
27,000
220,445
162,000
Land and buildings| |---|---|---| The commitment over the remaining life of the lease, which has been subject to a backdated rent review in 2025, is £220,445 (2023: £162,000). There is the possibility that the rent can be updated for inflation (2025: currently in negotiation). There is a break clause available on 30 September 2026, which would trigger a charge for dilapidations currently estimated by the trustees to be in the region of £160,000. Page 21