Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C>92D4.9564E4B441FC
Charity Registered numbers: 270157
& SC041919
MAHARISHI FOUNDATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C>92D4-9564E4B441FC
MAHARISHI FOUNDATION
CONTENTS
P8gè
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Indopondont audlt¢r'$ report on th• Ilnan¢lal $tat¢ments
Consolidated statement of financlal actlvltles
2-13
14-17
18
Consolidated balance sheet
19-20
Charlty balan¢• sh••t
Consolldat8d statement of cash flows
23
Notes to the flnanclal ¥tat*ments
24-59

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Jernima Pitman. Trustee representing England Iresigned 30 June 20241
Dr Aiay Prakash Shrivastava. Intemational Trustee
Graham Orr, Trustee representing Scolland. Chaimian (resigned 30 April 20231
David Rae, Trustee representing S¢odand. National Dir8¢tor for S¢oUand
Gwwdaf Evans. Trustee represenbng Wale5
David Hughes. Trustee representing Wales
Deirdre Parsons. Trustee (appointed 22 June 20241
Charity registered
numbers
270157
and SC041919
R¢gl$t8red offl¢e
Maharishi Peace Palace
Rendlesham
Woodbridge
Suffolk
IP12 2GX
Chl•f ¢xo¢utlv¢ offl¢•r
Or Peter Warburton
Ind8P8nd•nt audltor
MHA
910 The Crescent
Colchesler Business Pa
Col¢hesler
Essex
C04 9YQ
Bank•r8
Barclays Bank plc
LLoyJs TS8 Bank pl¢
CAF Bank Limiled
Scottish Widows Bank
Edinburgh
MonmoLrthsire Building Society
NewKK>rt, S¢xJth Wales
Virgin Money plc
Newcaslle UFon Tyne
Page 1

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their Annual Report together the audited consolKlated financial statements for the
year ended 31 December 2023.
The Trustges confirm that the Annual RetKJrt and finanual ststgments Comply wth ¢urrenl slalulory
requirements, the requiremenis of the Irust deed, and the provisions of the Statement of Recommended
Practi￿ ISORPI applicable to chanties preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021
TRANSCENDENTAL MEDITATION ~ TM
With our history of 1ga¢hing Transcendental MÈditation (TMI in Great Britain for over fifty years, we are
encouraged by the continuing interest from people of all ages and all walks of life.
Founded by Maharishi Mahesh Yogi, Transcendental Medilation is a simple, nalural, effortless procfjdure
pract15ed for 15 10 20 minutes in the morning and evening. while sitting comfortably with eyes closed. 11 can be
learned easily by anyone. Our courses are open to everyone regardless of gender, age, race, or religion
hllps".Iluk.Im.org
During the pra¢b'ce one's awaren¢ss settles down and one experiences a unique $tste of re$fful alertness. As
the mind transcends mental activity to experience the simplesl form of human awareness
Transcendental
Consciousness
one's body becomes deeply relaxed. There is also an increase in the coherence of brain
functioning. Regular transcending enlivens qualities of erealivily. d￿arni$M. ord8rfine55, and organising power,
resulting in increased effectiveness and success in daily life. Al the same lime, by experienclng deep rtssl durlng
Transcendental Meditation accumulated stress and lali9ue in the body is dissolved. When praclised rggularfy,
Transcendèntal Meditation offers evaryone o simple lechnique to enrich mind. body. 8motions, and p8rson81
relationships.
The UK has over 125 Certified Teachers of Transcendental Meditation. We have two leaehèrs ree8ntly r8lumèd
from the 2023 eourse with a further three now attending Ihe next course lo be completed earfy in 2024. To build
pipeline of polen1181 new Te8chers we continue lo encourage Meditslors lo ¢Jeepen their experiences by
attending TM residence Courses, now supplgmenle(I by a variety ol onling options.
Transc•ndental Medltatlon cours•
A seven-step introductory course comprises iwo lectures on Ihe benefits and nature of the practice, a personal
interview with the Teacher, and four lessons ol aL¥)ul tsvo hours. each taken on four consecutive days. After
this, new medil8lors are fully equipped to praclise TM on their own and enjoy all the benefits. Further le550n5
follow every two or four weeks to ensu￿ that the practice is correcl and giving maximum benefit.
Maharishi Foundation makes its courses as accessible as possible via concessionary fees and extended
payment terms lor those on low incomes or in need. When Possible, scholarships are provided to those unable
to pay lull fees, using lunds donated specifically for Ihis purpose. For exarnple, Ihe Charity has made grants
available lo NHS staff, lincluding awnbulance driver51, wnilrtary personnel (often suffering from PTSDI, students,
individuals and families on low in¢x>mes elc. Some of this support has come from the Edna Linnell Trust for
whom Maharishi Foundation is a named beneficiary. Course fe6s for leaming Transcènd8ntsl Mèditstion
are listed here.. https:Iluk.tm.orgllrans￿nden131- meditalion course-fee
Comprehensive follow-up is available for all who wish to take advantage of il. In a series of meetings,
praclilioners can discuss their experiences in meditation and leam more about the practice and ils effects in
daity life.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Scientific research on Transcendental MediL*ion
More Ih8n 380 pegr-rgviewed s(ienlrfi¢ rgsear(l) studies have been conducted al 300 universiligs and ￿$￿arCh
institutes in 30 countries, induding HaNard Medical School, Stanford Medical Sch￿1 and Yale Medical School.
Findings have been published in over 160 scienlific joumals. induding The Lancet. British Medical Joumal and
American Joumal of Cardiology.
These studies have shown that regular practice leads lo a widè range of benefits including decreasèd anxiety
and depression, improved memory and clearer thinking. reduc8(I high blood pressure, decreased Sllness and
morg harmonious relabonships. See.. https."/IwvKW.Im.orglresear¢h-on-meditalion
Advanc8d T•chniques of Transc•ndental M8ditation & th• TM4ldhi Programm•
Maharishi Foundation also leaches optional advanced courses. These can be tsken in sequence by anyone
who has learned TM. They further develop mind-body co-or(Jin8lion an(J other benefits. There are four
Advanced Techniques, each of which is ideally leamed fouf months after the previous lechnique. Onco
someone has leamgd all four Advanwl TechnNu8s. she or he may then go on lo Igam the Tm-sidhi
Programme after a further four months.
The Tm-sidhi Programme trains the individual to operats Irom the level of Transcendental Consciousness,
greatly enhancing co-ordination between mind and body. and developing thè ability lo think and act in accord
with N81ural Law. The most powerful aspect ol the TM-Si(Jhi Programme is the Yogic Flyng ltrchniqutr, durlng
which people rgport an experience of 'bubbling bliss,. Published research shows that at the same ts'me a
powerful influence of coherence. positivity, and ham)ony radiates throughout the anvironmont.
The MaharSshl Eff•ct
Even a small proportion of the population practising Transcendentsl Meditatson produces measurable effects in
sociely. Extensive scientific ￿SearCh has established that Crime detxeases significantly in a community when as
lrttle as ong Pgr¢enl of Ihg population praclices TM. This phenomenon is named 'thg Maharishi Effe¢¢' in honour
of Maharishi who had predicted it as as 1960. The Maharishi Effert has been repeatedly confirmed in 50
published scientific research papers.
An even greater effect of coherence is produeed in Society by the Tm-sidhi Programme. This is particularly
pronounced when Yogic Flying is pr8cts.ced in a group. The number required was found lo correspond lo the
square root of one per cent of the wpulation- for example. 800 for Great Britain, 2.000 for Europe, or 9,000 for
tho Current populats'on of the wodtl.
Maharishi Foundation, and
affiliated organizations in
other countries, support initiatives to
establish
coherence
creating groups of experts in the Tm-sidhi Programme who, through their daily group practice,
generate 8 powerful influence of coherence and positiwty in each nation.
FURTHER EDUCATION & OTHER INITIATIVES
Maharlsh5 V•dlc Sclence
Maharishi Foundation also offers courses in Maharishi Vedic Scien￿. Veda means 'knowledge'
total
knowledge of Natural Law. Maharishi Vedic Science courses offered by the Charity cover four main areas..
"Maharishi's Total Kno￿￿ed9& and Higher States of Consciousnèss. la systématic and complatè ovèrvièw of
Maharishi Vedic Science)". prevention-oriented hearth care through Maharishi Ayurveda,. knowledge of
architecture and planning in accord with the laws of nature through Maharishi Sthapatya Veda,. and the saence
and art of music that is in accord wilh Natural Law through Maharishi Gandharva Veda.
Page 3

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
During 2023, Dr Peter Warburton, the Chief Execulive of Maharishi FourKlation, in concert with the Maharishi
Peace Palace adminislralive team. ¢onlinued lo le8d a comprehensive series of online courses based on
Maharishi's Totsl Know18dge attended by parti¢ipants from the UK and many parts of the globe. A lotsl of
approximately 80Q people have attended these courses in 2023. Also, during 2023 ￿Sidential courses and
retreats were able to restart in the Maharishi Peace Pala￿, Rendlesham. encouia9ing a post covid recovery for
the Foundation and its facilities.
Mahirl$hl Ayurveda
Thè Charity is also involved in the Pfomotion of Maharishi Awrveda in th8 UK. Awrveda is thè worfd's longest
continually practised medical science. Developed in India over 6,000 years ago. Ayurveda (knowledge of the
quality and span of lifel is a natural approach to creating balance and strengthening the body s innate healing
ability. 11 is acknowledged by the Worfd Health Organization and is growing in its global use as one of the most
effective 5y51ems of natural healthcare. Twenty years ago. Ayurved8 was alm051 unknown outside India.
Comprehensive knowledge of il had become fragmente(J and lost. Working with the foremtssl AyuNeda experts
in India, Maharishi syslemalized and ￿$tored il in its completeness. This revitalized form of Ayurved8 is now
known as Maharishi Ayurveda. The goal of Maharishi AyurV8da is to prevent si¢kn8ss and promote balanced
health and longevity by enlivening the inner intelligence of the body and strengthening its natural healing ability.
Ayurveda Ltd.'s trading position deteriorated lurther duriThJ 2023, with supply difficulties, reduced sales and
reducing profilabilily whilst costs kept rising. Tho decisKJn was therefore taken lo cease trading once existing
orders had been fulfilled. To this end the staff were rele8sed and the offices closeLI al the end ol Oclobtrr 2023.
The company was made dom)anl whilst managing ￿mainIng creditors in advance of closure.
PROPERTIES OWNED BY MAHARISHI FOUNDATION AND ITS SU8SIOIARIES
MaharlBhl Peace Palace. Rendlesham, Suffolk
The Maharishi Peace Palace, the first ol its kind in the UK. lies al the heart of the Maharishi G8r(len Village
IMGVI in Rendlesham, Suffolk. The Peacg Palace has been cons¢nJ¢led ac￿rdIng to Maharishi Slhapatya
Veda, which embodies the ancient principles of Vedic architedure in accord wth natural law, to promote the
well- being of all occupants. It has 30 luxurious en-suite bedrooms, a large dining room, a central Great Hall for
conferences, numerous meeting rooms. and dedicated halls for practice of TM and the Tm-sidhi Programme.
Courses vary from a weekend to one-month or longer. All deepen the understanding and experience of
Transcendental Meditslion and 8ssocialed programmes.
The Pea¢e Palace residentsal course programmo has succossfully providod courses and retreats throughout
2023 wth 1,603 Course partiapant days12022 - 622) and retumed a small but noteworthy profit, with a slrong
program underway for 2024
In the absence of residential Courses during the coronavirus pandemic. Maharishi Education Cenlre, the owner
and operator of the Peace Pala￿, continued lo run a series of online covr5es through the Maharishi-online
plarfom. Suppl8m8ntary income from 804 cours8 partiopants 12022 - 1.4631 was g8nèrat8d throughout th8
year.
These live interactive online courses, haviThJ siarted to fulfil the desire for knowledge during lockdown, have
now become a regular feature, covering a variety of subjects presented by some of the organisalion's foremost
teachers for all lo enjoy in the comfort of their own homes. P85t (x)urse5 are available to wew on-demand a5
"Ar¢hive Treasurès..
Golden Dome Skelmersdal•
A variety of online and in-person, individual meetings, one day and residential courses were held through the
year with a lolal of 1396 course participant days 12022 - 5751. These induded two new offerings= a special
theme 'Cons¢iousness in Art, weekend and a one week advan¢ed Course in Maharishi's Apaurosheya Bhashya
Page 4

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
run by specialised trainers from Europe.
We also held al short notice a Tm-sidhi course Part 1 series of weekends in advance of the '10000 for Wodd
P&a¢e' held in Hyderabad, India in January 2024.
In consequence, the courses programme finished Ihe year strongly a reasonable profit.
Membership levels held steady throughout 2023 and regular donations were regularty raised as well as
supplementary funding lor major rwf repairs. The internal refurbishment program is largely complete.
The Dome has bèen rttnning Transcendental Meditation retreats for 34 years and is estimated lo have hosted
over a million meditations.
A variety of online and inyrson. individual meeknngs. one day and residential courses were held through the
rest of the year with a total of 1601 course participant days in the year. Together with continued strong financial
support from Dome members, this allowed the Dome lo end the year with a small profit. Membership levels and
donations held steady throughout 2023.
In addition. Trans￿nde￿￿1 Meditation 1$ tsught regulaty to peO￿e in the region including local parents and
children al the Maharishi School.
Othèr propertity own•d by Maharlshl Foundatlon
Boumgmoulh Transcendgnlal meditati￿ Centre (from 20101
9 Garden Square, Rendlosham120111
SUBSIDIARY, ASSOCIATED & RELATEO PARTIES
Sub8ldlary compan1•$ of Maharlshl Foundatlon
Maharishi Education Centre Limited {MEC)
Ayutveda Limited
Maharishi Garden Village Limiied
Maharishi Limited IDormanll
Maharishi Foundation Limited
Relattd Parties Of M•hari$hi Foundation
By virtue of common Trustees or Directors and related objects and aCtivit￿s, Maharishi Foundation is
connected
Tho SpiritU81 Regeneration Movement of G￿81 Britain (Charity number 204025
David Lynch Foundation UK (Company numb6r 07933959 and Charity numbèr 11466431
Maharishi Wodd Development Fund Icharity number 3287381
Invincible Scotland Trusl (Scoth'sh Charity number SC013238)
Maharishi School Trusl Ltd Icharity number 5179581
Maharishi International Graduate School (Company number 9023572 and Charity nurnber 11782301
Maharishi AyuTVed8 Institute (Charity numiEr 8002981
Details of transactions and balances with these connecled parties are given in note 31 to the financial
statements.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
POLICIES & OBJECTIVES
a. Pollclas and Oblèctlv•s
The objects of the Charity are lo advan￿ the education of the public by providing and assisting in the provision
of Ir¥ining, meetings, ¢18sses and other leaming opportunib"es', 8nd to tlevelop the physi¢81. mentsl, crtsative
andlor spiritual capa¢ities of individuals and the publi¢ at large through the provision ol, or assis¢J'ng in the
provision ol, education and training, in particular in all aspects ol Maharishi Vedic Science, including
TranS￿ndental Meditation and its advanced programmes. as founded by Maharishi Mahesh Yogi.
In setting objectives and planning for activities. the Trustees have given due consideration to general guidance
published by the Charity Commission relating lo public benefit, including the guidanee 'Public benefit.. running a
charity IP821'.
In setting objectives and planning for activities, the Trustees have given due cLJnsideration to general guidance
published by the Charity Commission relating lo public benefit, induding the guidance 'Public benefit.. running a
charity IPB21'.
b. Inv•stment policy
The Trustees have Ihg power lo invest unrestricted funds in such assets as they see fil in a prudent way that wlll
attain good results with targeted retums.
c. Fundwralslng
roach taken to fundraisin
The Charity raises funds by campaignin9 for donations for both general and specific purposes. The annual
fundraising campaign generates donations towards general administration expenses, whilst Specific fundraising
aclivilies generate funds for restricted funds such as Purush and Pvndils, or designated funds and investments
such as new TM Centres and maintenance of existing ones.
cific re
ulations a
licabl
The charity has not been subject to any specific regulation outside of normal charity commission requirements.
Monitorin
fundraisers and com
laints
Fundraisers are appointed and monitored by the CEO and a￿ issued with appropriate guidance, the￿ a￿ no
professional fundraisers employed. Donation and bequest fomis are rffepared in accordance with CC rules and
expectations. No ftjndraising complaints have been received
Ste
s lo ensure vulnerable
le
Vulnerable people are protected within the range and scope of the charity's policie5. Staff are regularfy reminded
of their resFK>nsibililies regarding safeguarding of vulnerable inwdual5.
The Charity had several fund-raising activities during the year, but none requiring disdosur& under S162A of the
Charits'es Act 2016.
FINANCIAL STATEMENT AND RELATED POLICIES
a. Overall financial perforniance
Maharishi Foundation and its subsrdiary undertakings generated a surplus of £1,199.620 in 202312022.. deficit
of £244,499). The results for the year refiect the revaluation of properties and offset the impact of the cost of
living crisis impacting demand lor TM and anullary courses.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL STATEMENT AND RELATED POLICIES {continued)
The Maharishi Peace Palace IMEC Ltd) compl8led its su￿esSfUl tumar¢xJnd program and for the first lime
reports a small operating surplus.
Ayurveda Ltd operating and market drfficulties resulted in further losses and an expected decision to cease
trading was made with the cLJmpany becoming dormant in October 2023.
A major project during 2023 was to implement a number of the prevlous Au(Jil recommen¢JaUons.'
Change the status from restricted to designated. those funds which are managed by the Trustees and the
leadership team including the Peace Palace,and the general restricted fund.
Revaluation of the Golden Dome and the Boumemouth Centre.
Closing ol surpluslduplicate bank 8¢counts and the cg)nsdidab'on of funds into high inlarest bèaring
accounts Inol y9t ￿Mplet9￿).
A key goal lor 2023 was lo improve on the TM leaehing numbers by eautiously ramping up marketing activity in
the second half of 2023. Thereafter, we expected a more nomi81 p￿-p8ndeMie level of demand lo manifest.
Despite this markeling effort. numbers leaming TM remained slubLx)mly flat throughout 2023 ending on slmllar
lgvels lo 2022.
People taking courses in 2023..
Cour
2023
2022
+l-
Trdnscendenlal Medi181i(
TM Adwnced Techniques
Tm-sidhi Course
Tm-sidhi Refresher
Residence Course participant days
Day Cwrse participants days
Online Cwrse participants
1.917
2,106
233
-9%
-15%
109%
23
78
1.601
692
565
1.463
131%
147%
45%
b. Donatlons
The 2023 annual donation event raised £18,42812022- £34.7kl.
An amount of £70,48012022 - £259,320) was raised in donations to promote the unique education provided to
Maharishi Vedic Pandit students by Maharishi Mahesh Yogi Vedic University.
The Charity continued to receive donalions for its Puwusha Fund and THMD Fund (see note 41. Donations
received by both groups combine(I were £84,363 12022 - £171,71818nd grants made were £60,044 12022 -
£42,065).
. Charitable Grants
The Charity made charitable grants during the year of £202,35712022- £287.1371. See noie 9 of the finanaal
ststements.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL STATEMENT AND RELATED POLICIES {continued)
d. Expèndltur•
Maharishi Foundation Charity results suffered no additional impainnent of their investment in subsidiaries12022
£141.571 impairment charge). However, on consolKlation this is reversed and therefore does not impact on
the results of the Group.
•. Golng concem
As 8 charity historically providing lace lo lace me(liab"on course, the impact ol the COVID glob81 pandemic
continues lo constrain demand, as somè members are stsll not confident in the close environment. To improve
this situation our teachers have benefitted from the introdLJction of a smartphone App which partially reduces the
need for person-tO•person tuition during the four4lay instruction programme. whilst still imparting to students the
same detailed guidance and advice. After re-opening the centres in 2022 following the global pandemic, both
our premier course facilities are now running residential programmes again and a lull schedule of courses is
planned lor the remainder of this year. Subsequently the smart phone app has bèen made available lo all
existing praclilioners of TM medilalion and has had beneficial results in lefms of regularity of practice and
engagemenl with follow up programmes
Despite this. with the advent of s￿nIficant innalion in the UK from March 2022, demand for TM remains al
around two-Ihird5 of "pre-COVID- levels. In consequence. the board and Trustees are reviewing our promotional
strategy for 2024 and 2025 with a mvch lighter targeting approach focused on the most successful locations.
In addition, the Charity benefited from a minimum of £300.000 in unreslricltrd legacy income before the ènd of
2023101 which an interim dislribution of £200,000 was received in June 20221. W8 used part of this income lo
underwrite further inveslmonl in an adverlisiThJ COMpa￿nI0Ve1$.
The Trustees and management have prepared forecasls ihat indicate Ihat the Charity and its subsidiary
undertakings have Sufficient resources to continue in operation and lo meet their liabilities as they fall due lor
the foreseeable future. being a period of 12 months from the dale of approval of the Annual Report and financial
stslements. Accordingly, the Trustees have prepared the financial statements on a going concem basis.
a. R•8•rvo8 polley
Notes 23 10 26 show the assets and liabililies attributsble lo each fund and summ8rise the movement on each
fund during the year.
At a Trustee meeting on 30 D￿mber 2015, the Trustees approved an unrestricted reserves rx)licy target of
£50,000. This policy carries forward into the current year. The Un￿StrICted reserves of the Charity at 31
December 2023 was in surplus of £3,289,95312022'. surplus of £2,422.631 restated). The surplus resulting from
the poliaes employed followng auditor's recommendations.
The Trustees are fully Committed lo Continuing to replenish these reserves from Improv￿ Irading perfomian¢g
from its trading SLJbsidiaries focussing on InC￿asing in person courses and higher attendan￿ levels generating
additional ftjnds.
The unrestricted reserves of the Group al 31 December 2023 were in surplus of £3,109,29212022.' surplus of
£1,987,676 Irestsledll.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
b. Public Benerrt statement
This stalemenl complies with the duty in section 4 of the Charities Act 2011 to have due regard to Public Benéfit
guidance published by Ihe Charity Commission. The Trustees have reviewed Ihis guidance when reviewing our
aims and objectives and in planning future activibes. The Trustees consider how planned activities will
contribute to the aims and objectives Ihey have set.
e. Prlnclpal rSsks and unc8rtaintiès
The Trustèes have a risk management slT8tegy. This ts)mprises 8n annu81 review of risks the Charity may faee
and the eslablishmenl of systems and pr¢xe(lures lo mits.gale those risks 8nd the mainltrnance of a rSsk register.
d. Flnanclal rfsk management objectlves and policles
The Charity has bggn able to rely on largely ccfflsistent income from educational activitle$ 8nd donats'ons from
supporters over the years. This continues. However, major expansion aclivity has taken place during the past
10 years commencing with the construction of the Maharishi Peace Palace al Rendlesham and continuin9 with
the in¢reasèd marketsng effort to instruct many more people in TM Starting in January 2018.
Annual budgets are produced lor each key department. Commenong In 2019. the Trustees now review these In
th8 final quBrt8r of èach year. G8n8rally, monthly budget reports are produced across thè various key areas of
the Charity and reviewed within each department. The key departments are.. Nationall Domel Peace Palace -
each produce annual budgets, each of which is reviewed monthly.
•. Prlnclpal fundlng
About 90010 of the operational funding of the Charity comes from ihe leaching of Transcendental Meditation.
COVID impacts in 2021 and into 2022 caused 8 significant hiatus leading lo leaching income with 2023
continuing a18round two thirds of nomal levels. Ancillary sources of course income, including new online
offèrings, have improved Ihg siltjation. To dale w8 expect to finish al a slightly higher level lor th8 next year.
The other main source of income is regular donations. These usually come into specific restricted funds which
are used lo support differenl projects. Each is discretely managed and very reasonable capital exists for the
major ones. Modest improvements in these were athieved during the year
STRUCTURE, GOVERNANCE & MANAGEMENT
a. Constitution
Maharishi Foundation is a Regislered Charity, number 270157 {England and Wales), Charity number..
SC041919
(Scollandl. The goveming document of the Charity 15 a trust deed. dated 29 Augu51 1975, amended 7 July
2016.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE & MANAGEMENT (continued)
b. Appolntment of Trusteès
New Trustees are recruited from supporters of the Charity who are well-known to the Custodian and the current
Trustees. Trustees are also chosen with a view to ensure that England. Scotland and Wales are always
represented. The Trust Deed 5tspulates that the number of Tru51ee5 must not be less than three or more than
fbfteen. The existing Trustees may appoint new Trustees by a ￿$0IUbOn of 8 meeb.ng of the Trustees. A
memorandum of appointment shall be signed and sealed by the ￿rsOn presiding al the meeting and alleslgd
by two others present at the meeting.
All Trustees give their time voluntarily. Any expenses reclaimed from the Charity are set out in note 14 to the
accounts.
c. Twstfje Indu¢tSon and tralnlng
New Trustees receive training notes and undergo training sessions to brief them on their legal obligations under
Charity law and introduce them lo the Trust Deed. Charity org8nisalion and management slruclure. the lalesl
audited accounts and managemenl accounts. lax law. employment law relums lo be ¢omplel8d, GDPR
compliance. the advisers and auditors ol the Charity. current issues and future plans ol the Charity.
d. Custodlan
The trust deed of the Charity provides for the appointment of a Custodian Ithe UK representative of Maharishi's
global or9anisalionl who will have a duty (o advise ihe Trustees on any matter relats'ng to the insight and
knowledge of all aspects ol Maharishi Vedic Science. including the standards required lor accrediting leachets,
in order to ensure the Trustees 8re satisfied th81 the purity and full effeclivenesg of Maharishi Vedic Science is
preserved. Al present the Cusllxlian is also the Chief Executsve.
•. Maharf8h5 Foundatlon Board
During 2023. Maharishi Board ¢￿tin[￿O lo regulady c(wrdinale key aspects of operational management
including strategy implementation, financial planning, matl(eting. and organisational priorits'es. The Chief
Executive is chairman ol this board. The Board works with key orricers of the Charity and is
empowered by the Trustees with responsibility for expansion, promotion, running of courses and the operation
of
f8cililies owned by the Charity. Monthly financial reports a￿ foThY8rded to the Trustees.
f. Marketlng Group
This is composed of various officers and advisèrs ol thè Charity and mèèts règulady to plan and commission
various marketing initiatives. It has a regular lorthighuy meeting with representatives of the GMG agency
speafically to review performan￿ and iactics around our online advertising and website revisions.
Page 10

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE & MANAGEMENT (continued)
g. Natlon*l Dlre¢tors
The Trustees have an administrabve structure in England. Scouand and Wales to cary out the objectives of the
Charity. Policy de￿s1OnS of Maharishi Foundation are made by the Trustees while implementation is carried out
by the Chief Executive in collaboration with three national directors in Scotland. England, and Wales..
David Rae, Scotland
Richard Johnson, En9land
Helen Evans, Wales
The National Directors enlist the suP￿rt of voluntser5 to promote education of higher consciousness in 12
areas
ol society. namely". schools 8nd universities, hearth care. agri¢ullure. 8rchilecture, adminislralion, trade and
¢omm8r¢e, science and lechnology. law and order. cullural studies, political science and the 8conomy, defence,
and Communication.
h. Volunt¢ers
The Trustees are immensely grateful to the many volunleers who contribule their time and skills to help run the
Charity, both centrally and in teaching cenires around ihe country. Activities by volunteers include fundraising,
promotion of courses, administration, bookkeeping and supporting our teachets as they run eourseg and hold
advanced meetings in local areas.
l. Pay pollcy for key managem•nt p•rsonnel
As 8 Charity wlh a keen sense ol mission and many long-lemi supporters. we rety heavily on a combination of
affordable Compensation and voluntary additional inptjt over and above fomial ¢ontractual arrangements. The
setting of pay for key management personnel is decided by the Trustees. There are four key management staff
who receive a salary with a combined 2023 annual pay of £62,00012022'. Four- £60,916).
. R•l8tod paty rnlatlonshlps
Trustees and principal officers complete a Declaration of Inleresls. Conflicts and Related Party Transactions
each year. Some UK-b8sed Trustees as well as the CEO and COO have direGtor role5 in various sub5idi8ries ol
Maharishi Foundation. None ol these positions are ￿munerated. Occasionally there may bg an external
organisation which is also declared., the Twstees may then agree remuneration is in order on a case-by-case
basis. A Conflict-of-Inleres( policy also helps ensure proper fransparency and accountability.
k. Trutstee$' indemniti¢$
The Trustees, directOTS and eMplo￿eS have a liability insurance policy which provides o)ver in relation lo
claims
and investigations ansing from breach of duty or trust. negligence. defamation. and breach of warrant of
authority. 11 also provides ¢over in relation to injury or proptrrty damage and misuse of dats.
Page11

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Plans for future periods
A major focus Is being placed on branding and marketing development. Central to this are the development of a
new public-facing website for advertising TM with a pilot landing page due to be launched by the end of 2025.
Other areas under review are enhanced PR and enhanced social media presence on Facebook, Instagram,
Twitter and Tiktok.
Organis8tionally, the hAaharishi Foundation Board is also looking 81 fvrther opportunities to enhance the
effi¢ien¢y ol the current organisalion. pa￿Cul8￿Y with several stsff members looking to relire. The Board has
succession planning as an ongoing [￿US.
During 2025, a major new facility is to be fully commissioned as the Edinburgh Peace Palac4. This purposevbuill
building is designed according lo the Vastu principles of Maharishi Sthapatya Veda and includes 7 private flats
in addition lo a new Transcendental Meditslion leaching eenlre for the city. The development is being
undertaken by Pada Vaslu Ltd, a company wholly owned by Invincible ScoUan¢J Trusl, 8 sister Charity lo
Maharishi Foundat￿n.
Finally, a major objective is to replace Iwo premier teaching centres in London with a more central one. This will
involve collaborative development with the Spirilual Regeneraknon Movement {SRMI and the Edna Linnell Trust,
Stat•mgnt of Tru$t•g$' re$pon8lblllll
The Trustees (who are also the d1￿clOr$ of the charity for the purptsges of Company lawl are ￿sponsible for
preparing the Trustees, report and Ihe financial statements in accordance with applicable law and United
Kingdom Accounting Stsndards (United Kingdom Gengrally Acc8pled Accounting Pracli¢el.
Company law requires Ihe Trustees lo preparè financial statements for each financial . Under company18w. thè
Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view
of Ihe slate of affairs of the group and the charity 8n(l ol their incoming resources and application ol resources,
including their incomg and expenditu￿, lor that period. In p￿paring Ihese financial statgmenls, the Trustees are
required to..
selecl suitable accounting policies and Ihen apply them consislenlly.,
observe the methods and principles of ihe Charilies SORP IFRS 1021,.
make judgments and accounting eslimale5 that are re850nable and prudent.,
state whether applicab16 UK Accountsng Standards IFRS 1021 havo been followed, Subject to any
material departures disclosed and explained in ihe financial stalements..
prep8re the fin8nci81 ststements on the going ¢on¢em basis unless it is in8ppropri8te lo presume that the
group will continue in business.
The Trustees are responsible for keeping adeqvale accounb.ng records that a￿ SLrfficienl lo show and explain
the group and the charitls transactions and disclose wi(h reasonable accuracy al any lime the financial position
of the group and the charity and enable them to ensure that the finanual statements comply with the Companies
Act 2006. They are also responsible for safeguarding the assets ol the group and the charity and hence for
taking reasonable steps for the prevenlion and detection of fraud and other irregularities.
Page 12

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Disclosure of infomiation to auditor
Each of the wrsons who are Trustees al thè time whèn this Trustees. report is approvèd has confimied that..
so far as that Tnjslee is aware. there is no relevanl audit infomiation of which the Charitable group's
auditor is unaware, and
th81 Trustee has tsken all the steps that Lxjght to ha￿ been tsken as 8 Trustee in ordor lo be aware of
any relevant audit information and to establish that the charitable group's auditor is aware of that
information.
Audltor
The audrtor, MHA, has indicated his willingness lo continue in office. The designated Trustees wll propose a
motion reappointing the avdilor at a meeting ol the Trustees.
Approved by order of the members of the tM)ard of Twslees an(J $￿Thed on their behalf by..
Davld Hughes
Trustee
Dal8'. September 12, 2025
Gwyndaf Evans
Trustee
Page 13

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
INDEPENDENT AUOITOR'S REPORT TO THE MEMBERS OF MAHARISHI FOUNDATION
Opinion
We havg audited thg financial stalements of Maharishi Foundation lthe 'parenl charity) and ils subsidiaries Ilhg
'group'l for the year ended 31 December 2023 vthith comprise Ihe Consolidated statemenl ol financial activities,
the Consolidated statement of finanaal position. the Charity statement of financial position, the Consolidated
ststemenl of cash flows and the related notes. induding significant accounting policies. The financial reporting
framework that has been applied in their preparats.on is applicable law and United Kingdom Accounting
Sl8nd8rds. including Finanei81 Reporting Sland8rd 102 The Fin8n¢i81 Reporting Standard applic8bl& in the UK
and Republic of Ireland, (Unitsd Kingdom Generally A￿pted Accounting Practice).
The financial statements have ￿en prepared in accordance with Accounting and Reporting by Charits'es
preparing their accounis in accordance with the Financial Reporting Standards applicable in the UK and
Republic of Ireland IFRS 1021 in preference to the Accounting and Reporb'ng by Charities.. Statement of
Recommended Practsce issued on 1 Apn"12(K)5 whith is referred to in the extant regulations bul has been
withdrawn.
This has been done in order for the accounts to provide a tnJe and fair view in accordance with the Ggngrally
Accepted Accountin9 Practsce effective for reporti'ng periods beginning on or after 1 January 2015.
In our opinion the financial slalements..
give a true and fair view of the stsle of the group's and of Ihe parent charitys affairs as al 31 December
2023 and of the group's incoming resou￿￿$ aThJ applicatw ol rgsourcfjs, induding its in¢ome and
expenditure lor the year then ended..
have begn properfy prepared in accordance with United Kingdom Generally Accepted Accounllng
Practice., and
have been prepared in 8ccord8nce with requirements of the Charities Act 2011, the Charilias and
Trust88 Invostmenl Iscoljandl Acl 2005 and regulations 6 aThJ 8 of the Charities Accounts (Scotlandl
Regulations 2006.
Basi$ for opinlon
We conducted our audit in accordance wilh Inlemalional StarKlards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under th￿ standards are further described in the Audilorfs responsibilities for the audit
of the financial slalemen15 Section of our report. We are independent of the group in accordance with the ethical
rgquiremgnls that are relgvanl lo our audil of the financial statements in the United Kingdom. in¢luding the
Financial Reporting Council's Ethical Stsndard, and we have ftjlfilled our other ethical responsibilities in
accordance with these requiremenis. We believe that the aL￿1t eV￿ence we have obtained is sufficient and
appropriate to provide a basis for our O￿n￿n.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
INDEPENDENT AUOITOR'S REPORT TO THE MEMBERS OF MAHARISHI FOUNDATION ICONTINUEDI
Conclusions relating to going concern
In auditing the financial stalemgnls. we have Conduded that the Trustees, use of the going ¢on¢em basis of
accounting in the preparation of the financial stalements is appropriate.
Based on the work we have perfomed. we have not identified any maleiial uncertainties relating lo events or
conditions th81, individually or ¢olle¢tively. may cast significant doubl on the group's or the parent ¢hariWs ability
to continue as a going concem for a period of al least twelve months from when the financial statements a
authorised for issue.
Our respx)nsibililies an(J the reswnsibililies of the Trustees wlh respect lo going concern 8re described In the
relevant sections ol this report.
Other Infomiatlon
Th8 Other infomation compris8s thè infom)atI￿ includ8d in th8 Annual report other thBn th8 fin8nciBI
statements and our Auditor's report thereon. The Trustees are responsible for Ihe other infomiation contained
within the Annual report. Our opinion on the financAal siatemenls does not cover the other information and,
except to the exlenl olhewse expiciuy staled in our report. we do not express any form of assurance
conclusion Ihereon. Our responsibility is lo read the other information arKI, in doing so. consider whether the
other information is malenally inconsislenl with the financial slalemenls or our knowledge obtained in th8 course
ol Ihg audit, or olheThvise appears lo ￿ materially misslaled. If we identify such mat8rial in¢onsisten¢igs or
apparent material misstatements. we are required to detemiine whether this gives rise to a material
misstatement in the financial slatemenis ihemselves. 11, based on the work we have performed, we conclude
that there is a material misstatement ol Ihis other informaknon. we are required lo report that fact.
W8 h8ve nothing to report in this regard.
Matters on whlch wè arè rnqulr•d to rnport by •x¢optlon
We have nothing to report in respect of Ihe following matters where the Charities {Accounts and Reports)
Regulations 2008 and the Charilies Accounts IScotland} Regulations 2006 {as amendedl requires us to report
to you if, in our opinion..
the information given in the Trustees. report is inconsistent in any material respect with the financial
stalemenls,. or
the parent charily has not k8pI suffici8nt and prwr ￿coUnting r8cords', or
the parent charily financial stalements are not in agreement with Ihe accounting record5 and returns. or
we have not received all the infomiation and explanations we require for our audit.
Responslbilitles of trustees
As explained more fully in the Tru$tsg$' ￿SponSIbl1111eS statem8nt, the Trustges who are responsible for the
preparation of the financial ststements and for being satisfied thal they give a twe and lair view, and for su¢h
intemal control as the Trustees detemiine is necessary to enable the preparation of financial siatements that
are free from material misstalement. wheiher due to fraud or error.
In preparing thg financial statements. the TrustÈ8s are responsible for assessing the group's and tha parent
charitys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis ol accounting unless the Truslees eilher inlend to liquidate Ihe group or the
parent charitable company or lo cease operations, OT have no realistic altemative but to do so.
Page 15

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
INDEPENDENT AUOITOR'S REPORT TO THE MEMBERS OF MAHARISHI FOUNDATION ICONTINUEDI
Auditorfs responsibilities for the audit ol the financial statements
We have been appoinle(l as auditors under section 151 of the Chariligs Act 2011 and se¢tion 4411 Ilcl of the
Charities and Trustee Investmenl (Scotlandl Act 2005 and report in accordance with the Act and relevant
regulations made or having effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as 8 whole are frtre
from material misstatement, whelher due to Iraud or error, and lo issue an Auditorfs ￿pOrt that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal an audit conducted in
accordance with ISAS IUKI wll detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial stalemenls.
Irregularities. induding fraud. are instances of Th)rrfompliance with laws and regulations. We design
procedures in line wth our responsibilities, outlined above, to detect material misstatements in respect of
irregularities. including Iraud. The extent to which our procedures are capable ol detecting irregularities,
including Iraud is det8iled below..
Enquiry of management around actual and polential litigation and claims..
Performing 8urJil work over the risk ol management override ol controls. including lesling of joumal entries
and other adjustments for appropriateness. evaluation of the business rationale of significant transactions
outside the normal course of business and reviewing accounting estimates for bias,.
Reviewing minutes of meelings ol Ihose charged with govemance
Reviewing financial statement disclosures and testing to supporting documentation lo assess compliance
with applieable18ws and regulations.
Because of the inherent limitations of an audit, there is a risk that we wll not delecl 811 irregularities, including
thosè leading to a matèrial misslat8m8nt in th8 financial slat8ments or non-compliancè with régulation. This risk
increases the more that compliance with a law or regulalion is removed from the events and transactions
reflected in the financial slatemenis, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due lo Iraud ralher Ihan error. as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further desuiption ol our responsibilitses for the audil of the financial statements is localed on the Financial
Reporting Council's website al.. vM¥.Irc.o
.ukJaudiiorsres
nsibilities. This description forms part of our
Auditorfs report.
Us• of our r•port
This report is made solely lo the charitys trustee5. 35 a body. in accordance with Part 4 01 the Charitie5
(Accounts and Reports) Regulations 2008 and regulation 10 of the Charities Accounts IS¢otlandl Regulations
2006. Our audit work has been undertaken so Ihal we might slate to the ¢haritls members those matters we
are required to state to them in an Auditorfs report and for no other purrx)se. To the fullest extenl permitted by
law, we do not accept or assume responsibility to an￿)ne olher Ihan the charity and ils members, as a body, for
our audit work, for this report, or for the opinions we have formed.
Page 16

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
INDEPENDENT AUOITOR'S REPORT TO THE MEMBERS OF MAHARISHI FOUNDATION ICONTINUEDI
Cara Millgr ACCA Isenlor Ststutory Auditor) for and on b•half of MHA Statutory audltor
Colchesler, United Kingdom
Dale..September 12, 2025
MHA is the trading name ol MHA Audit Services LLP, a limited liabilrty P8rtnership in England and Wales
Iregislere(I number OC4555421
Page 17

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
CONSOLIDATED STATEMENT OF FINANCIAL ACTNMES {INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Restricted
fund$
2023
Total
funds
2023
Tol&l
fvnds
2022
Nots
Income from..
Don8lions and lègacies
Charitable activities
Other trading activities
Investments
Other income
235,902
957.488
$61.643
3.791
20,000
362,312
167.324
25,347
3,266
598,214
1.124,812
586,990
7,057
20,000
656,302
1,060,950
554,433
2,2T9
Total income
1,778,824
558,249
2,337,073
2,275,964
Exp•ndlture on:
Raisin9 funds
Charitable activities
596.988
1,424.867
596,988
1.913,835
677,230
1,847,233
488,968
Total •xp•ndltur•
2,021.855
488.968
2.510,823
2,518,463
Ng1 lexpendllurellln¢ome
Transfers between funds
1243.0311
18.7231
69.281
8,723
1173,7501
(244,499?
23
N•t movemont In funds boforo other
recognisfrd gainsllloss¢81
1251,7541
78,004
1173,7501
(244,499)
Other rocognlsed galnsl{lossesl:
Gains on ￿valUation of fixed assets
1.373.370
1.373,370
Net mov8m•nt In funds
1.121,616
78.004
1,199,620
(244,499)
R•eoneiliatian of fund$=
Toial funds brought forward
Nel movement in funds
1,987.676
1,121.616
1,608,766
78,004
3,596,442
1.199,620
3,840,941
(244,499)
Total funds carrf•d forward
3.109.292
1.686.770
4.796,062
3,596,442
The Consolidated stalement of financial activities indudes all gains and lo&ses recognised in Ihe year.
The notes on pages 24 to 59 form part of ihese financial slaiements.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
REGISTERED NUMBER: 270157
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023
As restated
2022
2023
Fix8d assets
Intangible asse15
Tangiblg assets
Investments
15
16
17
25,508
6,243,278
10.291
5,015,590
10,291
6.279,077
5,025,887
Curr•nt a$$•t$
Stocks
Debtors.. amounts falling due after more than
one year
Debtors.. amounts lalling due withln one year
Cash at bank and in hand
18
16,341
19
19
25,000
110,384
508,415
25.000
61.685
627,865
643,799
T30,891
Credllors: amounts falllng due wllhln one
year
20
(540,6401
(521,093)
N•t curront ass•ts
103,159
209, 798
Total a$$•t$ less current Ilabllltl¢s
6.382,236
5,235,679
Creditors.. amounts falling due after more
than one year
21
11.586,1741
(1,639,23TJ
Net assets excluding pension asset
4.796,062
3,596.442
Total not assets
4.796.062
3,596,442
Charlty funds
Restricted funds
Unrestricte(J funds
23
23
1.686,T70
3.109,292
1,608, 766
1,987,676
Total funds
4,796,062
3,596,442
Page 19

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
REGISTERED NUMBER: 270157
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The Trustees acknowledge their responsibilities for o)mplying wlh the requirements of the Act with respect lo
accounting records and preparation of financial statements.
Thè financial statemènts have been prepared in a¢¢or(lan¢e wth the provisions applicable to entitles subje¢l to
the small companies re9ime.
The financial statements were approved and authorised for issue by the TnJslees and signed on their behalf by..
David Hughes
Trustee
Data.. September 12. 2025
The notes on pages 24 10 59 form part of these financial stalemenls.
Gwyndaf Evans
Trustee)
Page 20

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
REGISTERED NUMBER: 270157
CHARITY BALANCE SHEET
AS AT 31 DECEMBER 2023
As restated
2022
2023
Fix8d assets
Tangible assets
Inveslmenls
16
17
2.160,979
589,798
822,029
589, 798
2.750,777
9,411,827
Current assets
Oeblors.. amounts falling due after more Ihan
one year
Debtors-. amounts falling due wiihin on8 year
Cash al bank and in hand
19
19
746,463
1.918,694
467,919
T81,810
1,867.837
532,285
3,133,076
3, 181,932
Creditors.. amounts falling due wilhin one
year
20
(230,2661
f279,607J
Net Current assets
2.902,810
2,962,325
Total asset8 less current Ilab115tSes
5.653,587
4,374, 152
Creditors.. amounts falling due after more
than one year
21
1676,8681
(659,695)
Net assets excludlng p•ns5on asset
4,976.719
3, 714,457
Total net assets
4.976,719
3,714.457
Charity fund$
Restricted ftjnds
23
1,686,766
1,291,826
Unrestricted funds
Designated funds
General funds
23
23
2.573,181
716,772
2,853,846
(431,215)
Total unrestricted funds
23
3.289,953
2,422,631
Total lund$
4.976,719
3,714,457
The ¢hartys net movement in funds for the year was £1,262,262 (2022- £(102,375J).
The Trustees acknowledge their responsibilities for complying wth the requirements of the Act with respect to
accounting records and preparation of financial statements.
Page 21

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
REGISTERED NUMBER: 270157
CHARITY BALANCE SHEET ICONnNUED)
AS AT 31 DECEMBER 2023
The financial statements have been prepared in accordance ￿￿th the provisions applicable to entities subject lo
the small companies regime.
The financial ststements were approve(l and authorised lor issue by the Trustees and signed on their behalf by..
Davld Hughts
Tnjstee
Gwyndaf Evans
Truslee
Dale.. September 12, 2025
Thè notes on pages 24 10 59 form part of these financial $18lemenls.
Page 22

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Cash flows from operating activities
Nel cash used in operating aclivibes Inole 271
34,634
(18,391)
Cash flows from investing activities
Dividends, Interests and rents from Investments
Purchase of intangible assets
Purchase of tangible fixed assets
7,057
129,9501
17501
773
(23,253)
Nèt cash usèd In Investlng *¢tlvltl•s
123,6431
122.4801
Cash flows from flnanclng a￿¥111
Cash inflows from new borrowing
Repayments ol Lxsrrowing
Interg$1 paid
41,900
(76,917)
(16, 190J
177,3391
153,1021
Net cash used In flnanclng actlvbtbes
1130,4411
151.2071
Change In cash and cash equlvalents In the y••r
Cash and cash equivalents at the beginning of Ihe year
1119,4501
627,865
192,0781
719,943
Cash and ¢o$h ¢qulval•nt$ at the end of the year (nots 291
508,415
627,865
The notes on pages 24 10 59 f¢)m part of these finanual statements
Page 23

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
G8n8ral Infomiation
Maharishi Foundation Ilhe"Chariif} is a charity registered in England and Wales12701571 and in
Scotland ISC0419191. The registered office is Maharishi Peace Palace, 6 Gardenia Close, Rendlesham,
Woodbridge. Suffolk. IP12 2GX.
Accounting policies
2.1 Bas1$ of preparatlon of finan¢lal statsm•nts
Th8 financial statements have been prepared in accordance with th8 Charities SORP IFRS 1021-
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 IFRS 1021 (effective 1 January 20191. the Financial Reporting Standard
8ppli¢able in the UK an(J Republic ol Irelan(J IFRS 1021 and the Companies Act 2006.
Thg financial siatemenls have been prepared to give a 'lrue and fair, view and have departed from
the Charilies IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair view.. This departure has involved fdlowng 'Accounting and Reporting by Charitie5.'
Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance
with the Financial Reporting Sl8nd8rd 8pplieable in the UK and Republic of Ireland IFRS 1021
Isecond Edition), rather than the Accounting and Reporting by Charities.. Slalement of
Recommended Practs'cg effective from 1 April 2005 which has since been withdrawn.
Maharishi Foundation meets Ihe definilion of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cosl or transaction value unless otherwise slated in the
relevant accounting policy.
The Consolidated statement of financial actwilies ISOFAI and Consolidated balance sheet
consolidat8 the financial stat8mgnts of tho tharity arn1 ils subsidiary undertakings. The results ol the
subsidiaries are consolidated on a line by line basis..
Subsidiaries which have been excluded from the consolidation due to being immaterial are..
Maharishi Foundation Limited (Domanll
Maharishi Limited IDom)anll
Maharishi Garden Village Limiied Ilmmaleriall
The Charity has taken advantage of Ihe exemption available to a qualifying ents'ty in FRS 102 from
the requirernenl to present a charity only Cash Flow Slatemenl wthin the consolidated financial
statements.
A summary of the principal accounting poli(ies, vthi(J) have been applied consistently, is set out
ovedeaf..
Page 24

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
2.2 In¢omo
All income is recognised once the charity has entitlement to the income. it is probable that the
income will be received and the amount of income receivable can be measured reliably.
The re￿)gnitIOn of income from legacies is dependent on establishing enliuemenl, the probabilty of
receipt and the ability lo eslimale with sufficient accuracy the amount receivable. Eviden¢e of
8ntitlem8nt to a legacy èxists when th& charity has sufficient evidence that a gift has been left to
them Ithrough knowledge ol the existence ol a valid wll and the death of the benefactor) and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amount receivable. vthich TrMII generally be the expected cash amount lo be distributed to the
charity, can be reliably measured.
Cours• f••s
Income from course fees for teaching the Transcendental Meditab'on and Tm-sidhi Programmgs
and other rLJurses is recognised by reference lo the course date.
Incomlng rt$our¢•8
Other Incoming ￿SourCeS such as voluntsry incoming resources are accounted for as and when
enlillgmgnl arises, the amwnl can be reliably quantified and the economic benefit lo the Charity is
considered probable.
Rental Income
Income received lor rentsl of properties is allocated ¢)n a receivable b8SiS.
Incorne tax recover8ble in relation lo investment income is recognised 81 the time the inveslmgnt
income is r8c8ivable.
2.3 Golng concorn
The finanaal slalemenls have been prepared on the going concem basis.
Thg Charity and ts subsidiary undertakings Itog8thèr the 'Group'l havg slowly b8gun to dglivèr
courses in person during the year whilst continuing to Su￿sSfullY deliver courses online. It is
anticipated in the foreseeable future thal courses will conlinue both in person and online to enable
the courses to be offered to a wider range of peOe and management's forecasts for the next 12
months are based on this assumption. The Trustees and management have prepared forecasts that
indicate that the Ch8rity and its subsidiary undertakings have sufficient resources lo continue in
operation and to meet their liabilitses as they fall due for the fo￿$¢¢able fvlure, being a period of 12
months from the date of approval ol these finan¢ial statements. Accordingly, the Trustees have
prepared Ihe financial statements on a going concem basis.
Page 25

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
2.4 Exp•ndltur•
Expendilure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligab.on can be measured reliably. Expenditure is classified by
8Ctivity. The costs 01 each activty are made up of the lo181 of direct cos15 and sh8rtsd costs.
including support costs involve(l in undertaking each activity- Dire¢t costs attributsble 10 8 singlo
activity are allocated dI￿￿Y to Ihat acts'vity. Sharèd costs which contributè to more than onè activity
and support costs which are not attributable to a single activity are apportioned be￿een those
activities on a basis consistent ￿th the use of reSour￿s. Central staff costs are allocated on the
basis of tsme spent, and depreciation charges allocated on the portion of the asset's use.
Expendllure on raising lunds Indudes all expendilure Incurred by the group lo ralse funds for ils
charitable purposes and includes costs of all fundraising activities events and non-charilable trading.
Expendilure on charitable activities is incurred on direcuy undertaking the activth'es which further the
group's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such granls being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject lo conditsons which have not been mel al the ygar end are noted as a
commitmont. but not accrued as frxpenditure.
All expendilure is indusive of irrecoverable VAT.
2.5 Int•r•8t rocelvabl
Int8r8st on funds held on d8posii is included wh8n receivabl8 and thè 8mount can b8 m8asur8d
reliably by the group. Where loans are Inle￿St free as the donors have requested funds are made
available for specific causes, Ihe loan is discounled and nolional interest is calculated and
accounted for.
2.6 Grants
Tho Twstees, policy is to award grants that support activities that are in ac￿r￿ wth the objects of
the
Charity and restrictions imposed by the donors of the funds.
2.7 Taxation
The Charity is considered to pass Ihe tesis set Otjt in Paragraph 1 S¢hedule 6 of the Finan￿ Act
2010 and therefore it meeis the definition of a charitable company for UK corporats'on tax purposes.
Accordingly, the Charity is wlentially exempl 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 Taxahon of Chargeable Gains Act 1992, to the extent that such income or gains are
applie(l exdusively to Charitable purFM)ses.
Page 26

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
2.8 Intanglbl¢ a$$•ts and amortl$atlon
Intangible assets are capitalised and recognised when fvture economic benefits are probable, and
the cost or value of the asset can be measured reliably.
Intsngible assets are initially recognised at cost. After recognition, under the cost model. intangible
assets are measured at cost less 8ny accumulated amortisation and any accumulated impairment
Ioss8S.
Amortisation is provided on intangible assets at rales calculated to write off the cost of each asset on
a straight-line basis over its expected useful life.
The es￿mated uselul Ilves are as folh)ws:
Website costs 3 years.
2.9 Tanglble fixed a88ets and depreclatlon
Tangible fixed assets are initially recognised 81 cost. After recognition, under the revaluation model,
tangible fixed assets whose lair value can be meastjred r81iably shall be carried al a rgvalued
amount, being their fair valu¢ at the date of revaluation less any subsequent ac¢umulated
depreciab'on and subsequent accumulated impairment losses.
Revaluatsons are made with sufficient ￿g￿lanty lo ensu￿ that the carrying amount doès not differ
materially from that which would be detemined using fair value al the end of the reptsrting dale.
Fair v81u8S 8r8 d8t8rn1ined Irom mark8t4&ased evidencè by appr8is81 that is nomially und8rtakèn by
professionally qualified valuers. If there is no market-based evidence ol fair value because of the
specialised nature of the tar¥Jible fixed assel and it is rarely sold, except as part ol a contributing
business. a charity may need to estimate fair value using an income or depreciated replacement
cost approach.
Gains and Ioss8s on rgvaluation arè recognised in the Consolidat8d statèment of financial 8CtivitlgS,
with a separate revaluation ￿serve being shown in the Statement of funds note.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their eslimaled useful lives.
Depreciation is provide(l on the folkn￿ng bases".
Freehold propety
Leasehold rmms
Plant and machinery
2Y• Straight line
Over ihe period of Ihe lease
- Between 20°k and 50%
Page 27

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
2.10 Inv•$tm•nts
Fixed asset investmenls are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the
value cannot be measured reliably in which case rt is rneasured at cost les5 impaimienl. Investment
g8ins and 10s5es. whether re8115ed or unre81ised. are combined and presented as 'GainsllLossesl
on investsnenls. in the Consdidated slatemenl ol finanual activities.
Investments in subsidiaries are valued at ￿$1 less provision for impairnient.
2.11 Stocks
Stocks are valuefj al the lower of cost and nel ￿811$able value after making due allowance for
obsolete and slow-moving stocks. Cost indudes all direct costs.
2.12 O•btors
Trade and other deblots are recognised al Ihe setuement amount after any trade discount offered.
PrepayTrenls are valued al the amount prepaid.
2.13 Cash at bank and In hand
Cash al bank and in hand indudes cash and short-temi highly liquid investments with a short
malurily ol three months or less from the date of acquisition or opening of the deposit or similar
account.
2.14 Liobiliti08 and proYi$lon$
Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past
event, it is probable thal a transler of economic benefil will be required in settlement, and the
amount ol the settlement ean be eslimaled reliabty.
Liabilities are ￿cOgnised al the amounl that the charity anlicipales il will pay lo settle the debt or the
amount il has rgcgived as advanced payngnts for the g(K%ls ￿ servic8s il musl provide.
Provisions are measured at the best eslimale of the amounts required to setde the obligation. Where
the effect of Ihe time value ol money is malerial, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate Ihat reflects the risks specific to the liabilty. The
unwinding of the di5couwII is recognised in the Con501idalwJ Statement of financAal activities a5 a
finan¢e ¢ost.
2.1S Flnanclal Instrum•nts
The group only has financial assets and financial liabilities of a kind that qualty as basic financial
instrumen15. Basic financial instruments are initially recognised al transaction value and
subsequently measured at their settlement value wth the excepb.on of b8nk loans which are
subsequently measured at amorts'sed cost using the effective interest method.
Page 28

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
2.16 P•n$lon$
The group operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the group to the fund in respect of the year. Amounts not paid are shown in
creditors a a liability In the Balance Sheet. The assets of the plan are held separately from the Group
in independently administered lunds.
2.17 Fund accountSng
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the group and which have not been designated for other
purposes.
Designaled funds comprise unreslricled funds that have been sel aside by the Trustees lor
parts'cular purposes. The aim and use ol each designaled ftjnd is set out in the notes lo the financi81
statements.
The Trustee5 have a polity of donatiThJ a percantage of eourse fe8S to SUPPOrt the tradition frorn
which the leaching of Transcendentsl Meditstion and its ￿lated techniques are derived.
Reslricled funds are funds which a￿ lo be used in accordance with specific reslri¢lions imposgd by
donors or which have been raised by the group for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes lo the financAal statements.
Investment income, gains aNJ losses are all(xated lo the appropriate fut)d.
2.18 Allacatlon of costs
Direct charitable cosis are incurred in fulfilling the charilable objeclives of the Charity.
Support Costs of charitable activities indu¢Je central m8nagemenl and adminislralion costs, inCUr￿d
directly in support of expendilure on the objects of the Charity. These costs arè considered part of
lotsl expenditure relating lo the ot4'8cts of th8 Charity.
Governance costs indude costs incurred in the govemance ol the Charity and its assets and are
primarily associated wilh constitulional and slalutory requirements.
Cos15 of generating funds include cos15 incurred in order to raise income to support the activities of
the Charity and its subsidiary undertakings.
Page 29

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Crltlcal accounting •stlmat•s and ar•as of Sudgmènt
In the application of Ihe accounknng policies, Tnjslees are required to make judgements, estimates, and
assumptions about the carrying value of assets and liabilities that are not readily apparent from other
sources. The eslimales and underfw'ng as5umplK)ns are based on historical experience and other factors
th818r8 considered to be relevant. Actual results may drffer from these estimates.
The esb'males and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the pericmj in which the estimate is revised if the revision affects only that
period, or in the period of the revision and future periods if the revisions affected current and future
periods.
The key sour¢8s of eslimalion uncetsinty that have a signifi(8nl effect on the amounts recognised in the
financial statements are summarised below..
The Maharishi Peace Palace is included in the financial statements at original cost. An impairment review
has been undertaken comparing original cost to value in use. Based on occupancy in 2019 a discounted
future cashflow model supports the cost value induded in the financial statements and no impairment is
deemed necessary.
Fixed assets. including propety. are depreciateij to net residual value. In most cases this is nil. In the
case of properties that can or are used as residential properties. net residual value is considered lo
be
higher than cost and on this basis no dèpreciation is chargèd.
The Investment in Awrveda Limited has been reduced to £Nil in prior years as the subsidiary has now
dis¢onbnugd in operational exislgnce.
The investment by the Charity in Maharishi Educali(ffi Centffj Limited has been written down in value so
that il does not exceed the nel assets of the subsidiary undertaking. The imp8irmenl ¢harge in the year
amounting lo £NIL12022.. £141,571) largely rewesents th8 annLbal depreciation charge on the Maharishi
Peace Palace
Page 30

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Incomè from donatlons and l•gac••s
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Donations
177.955
57.947
301,176
61,136
479,131
119,083
Legacies
235,902
362,312
598.214
Unrestricted
lunds
2022
Restfr7Cted
funds
2022
Total
funds
2022
Donations
Legacies
144,830
303,231
208,241
448,061
208,241
144,830
511,472
656,302
Page 31

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Incomè from charltablè actlviti•s
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Transcendentsl Meditstion
Other courses
887,015
70,473
887,01 S
237,797
167,324
957,488
167,324
1,124,812
Unrnstricted
funds
2022
Restiicled
funds
2022
Tot81
funds
2022
TranS￿ndental Meditation
Other courses
871,419
88,412
871,419
189,531
101, 119
959,831
ioi, t 19
1,060,950
Page 32

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Incomè from athèr tradlng activltlès
Income from non charitable trading activities
Unrostrl¢t#d Rostrlct•d
fund$
funds
2023
2023
Total
funds
2023
Other Ir8ding income from subsi(Jiary undertakings
Sale ol Ayurveda products
Consultations and courses
Rental income and room hire
413.356
123,590
9,092
15.605
5,492
418,846
123,590
25,113
19.439
16,021
3,834
561,643
25,347
586.990
Unrestricted
funds
2022
Restfr7¢ted
funds
2022
Total
funds
2022
Other trading income from subsidiary undgrtakings
Sale of Ayurveda products
Consullalions and courses
Rentsl income and room hire
301,691
212,770
5,059
308, 750
212, 770
8,666
26,247
8,666
8,086
18, 161
532,622
21,811
554,433
Investment Income
Unr&$trl¢ted Re$trl¢ted
funds
funds
2023
2023
Total
funds
2023
Investmgnl income on bank dgposits
3,791
3,266
7.057
Page 33

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Invèstment Incom• Icontlnu•d}
Unr8Stricted
funds
2022
Resliicled
funds
2022
Total
funds
2022
Investment income on bank deposits
Other investment income
1,705
98
1, 705
574
476
7,803
476
2,279
Other incoming r•sourc•s
Unr•strl¢ttrd
funds
2023
Total
fund$
2023
Total
funds
2022
Other operating income
20,th
20,000
During 2023 Ira(le ceased in the sub$￿18ry, Ayurveda Limited after receivin9 £20,000 for payment of the
goodwill.
Summary of granis
Grants to
Indlvldu81$
2023
Total
fund$
2023
Grants, Transcendental me(litstion
202,357
202,357
Grants to
Individuals
2022
Total
funds
2022
Grants, Transcendental meditation
287, t37
287, 137
Page 34

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Analysls of grants
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
National admin grants and sponsorship
Generdl restricted grant
TMHD programme grants
PurLJsha programme
Vedic Pandits fund
30.171
74,193
30,171
74.193
20,475
16,519
60,999
20,475
16,519
60,999
104,364
97,993
202,357
Unrastri¢ted
funds
2022
R8slri¢led
funds
2022
Total
funds
2022
Nallonal admin grants and sponsorship
General reslri¢lgd grant
TMHD programme grants
Purusha programme
Vedi¢ Pandits fund
177,489
50
29,633
13,587
28,478
97,900
117,539
29,633
13,587
28,478
97,900
117,489
169,648
287, 137
Page 35

Do¢Jslgn Envdope ID." 4FA9F12C.38LKL41C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11. Analysls of dlr•et Costs
Activities
undertaken
dIrec￿Y
2023
Grant
fundlng of
actlvltles
2023
Support
¢osts
2023
Total
fund$
2023
Direct costs- charitable actsvities
959.053
202.357
752,425
1,913.835
Acfy"wbes
undertaken
dire¢tly
2022
Gr8nt
lundin9 01
activities
2022
Support
costs
2022
Total
funds
2022
Direct costs- charitable activities
853.865
287, 137
700.237
1,841,233
Analysls of dlr¢d ¢o$t$
Total
fund8
2023
Actlvltles
2023
Teachgrs romungration
Course adminislralion. promotion and advertising
559.328
399,725
559,328
399,725
959,053
959,053
Tot81
funds
2022
ActivIt￿S
2022
Teacher5 remuneration
Cours8 administration. promotion 8nd adve￿sIng
489.901
363,958
489,907
363,958
853,865
853,865
Page 36

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11. Analysls of dlr•et Costs Icontlnuad)
Analysis of support costs
Totsl
funds
2023
A¢tlvltl¢$
2023
Stsff costs
Depreciation
Premises
Management
Finance an(i IT
Legal
388,135
29.212
102,677
100,694
84,279
47.428
388,135
29,212
102,677
100,694
84,279
47,428
752,425
752,425
Total
funds
2022
Activities
2022
Staff costs
Depreciation
Premises
Management
Finance and IT
399.206
75,541
83,908
55.563
98.217
47.796
399,206
15.547
83,908
55,563
98,217
4T,79S
Legal
700,231
700,231
12. Audltorfs r•mun•ratlon
2023
2022
Fees payable to the chariVs auditor for the audil of the charitys annual
accoLJnts
2S,000
19,500
Fees payable lo the charivs audilor in res￿ of:
All non-audit services not include(l above
10,000
9,000
Page 37

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Staff costs
Group
2023
Group
2022
Charity
2023
Charity
2022
Wages and salaries
Social security costs
Contribution to defined contribution ￿nsIon
schemes
373.629
7.645
385.853
4,643
238,643
6,658
253, 161
4,643
6,861
8.710
7,220
388,135
399,206
247,347
265,024
The average number of persons employed by Ihe charity during the year was as follows..
Group
2023
No.
Group
2022
No.
Charlty
2023
No.
Charity
2022
No.
General Fund (Full timel
MEC Limited (Full tirne}
Genèral Fund IPart lime}
Golden Dome IP8rt lime
Al￿1varda Limit8d IPart timo)
23
32
18
22
No employee received remuneration amountsng to more than £60,CKKI in eilher year.
Total remuneT8lion paid to key management personnel in the year amounted lo £62,000 (2022
£60,916).
14.
Trustees. remuneratlon and expenses
During the year, no TTuslee5 received any remuneration or other benefits f2022- £NIL).
During the year ended 31 December 2023, no Twstee expenses have been incurred (2022- £NILJ.
Page 38

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
15. Intanglblè assets
Group
Web6it¢
¢o$ts
Cost
Additions
29,9
At 31 December 2023
29,9SO
Amortlsatlon
Charge for the year
At 31 December 2023
4,442
Net book valuo
At 31 December 2023
25,508
Al 31 December 2022
Page 39

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Tanglblè fixèd assèts
Group
Long40rn1
leasèhold Flxturès and
proprty
oqulpmant
Freehold
property
Total
Cost or valuatlon
Al 1 January 2023
Additions
5.114.601
750
781,579
958,534
6,854,714
750
Disposals
Transfers between c18sses
Revaluations
1161,0261
1161,0261
781,579
948.390
(781.579)
948,390
At 31 Decèmber 2023
6.845,320
797,508
7.642,828
Depr•clatlon
Al 1 January 2023
Charge for the year
On disposals
Transfers between classes
On revalued assets
885,916
110,831
133.114
820,094
35,601
1161,0261
1.839,124
146,432
1161,0261
133,114
1424,9801
1133.114)
1424,9801
At 31 Docember 2023
704,881
694,669
1.399,550
Ntt book value
At 31 December 2023
6,140,439
102,839
6,243,278
At 31 December 2022
4,228,685
648,465
138,440
5,015,590
Page 40

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Tanglblè fixèd assèts Icontlnuod)
Charity
Long4erni
leasehold Fixtures and
property
fittings
Freehold
property
Total
Cost or valu¥tl¢n
At 1 January 2023
Transfers between classe$
Revaluations
568.955
739,913
948,390
781.579
(739.913)
46,818
1.397,352
948,390
Al 31 December 2023
2.257.258
41.666
46,818
2,345,742
Depr•clatlon
Al 1 January 2023
Charge for the year
Transfers between classes
On revalueij assets
371,764
27,600
133,114
1424,9801
159.501
5,208
1133.114)
44,058
1,612
575,323
34,420
1424,9801
At 31 D¢¢ember 2023
107,498
31.595
45,670
184,763
Net book value
Al 31 December 2023
2,149,760
10,071
1,148
2,160,979
At 31 December 2022
197. 191
622,078
2,760
822,029
Page 41

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Tanglblè fixèd assèts Icontlnuod)
The Golden Dome was valued by Carter Jonas LLP at £1.380,￿0 on 6 April 2023, and Bournemouth
Peace palace was valued at £425,000 in August 2024 IThe directors are of the opinion this is reflective of
the value of the asset al 31 December 20231. Revaluation adjustments overall of £1.373,370 have b&&n
made in th8 finan¢ial ststem8nts lo reffled these valuats"ons.
The group has adopted a policy of revaluation for tangible fixed assets. Had these assets been measured
al historic cost, the carrying values woukl have been as follows..
Group
2023
Group
2022
Charlty
2023
Ch8rily
2022
Freehold property
Long-lerm leasehold Pro￿rtY
Fixtures and lith'ngs
4.177,799
616,870
102,839
197,191
616,870
1,148
4.897,508
81 S,209
Page 42

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
17. Flx8d assat Snv•stm•nts
Investrnents
$ub$ldlary
Unll$t•d
companl8s In¥•stments
Total
Group
Cost or valuatlon
Al 1 January 2023
291
10,000
10,291
At 31 December 2023
291
10,000
10,291
Net book value
At 31 December 2023
291
10,000
10,291
Al 31 December 2022
291
10,000
10,291
Investrnents
In
subsidiary
Unlisted
companies Inv¢$tm¢nt$
Total
charfty
Cost or valuatlon
At 1 January2023
2,097,968
10,000
2,107,968
Al 31 December 2023
2,097,968
10,000
2,107,968
Impalrm•nt
At 1 January 2023
1,518.170
1,518,170
Al 31 December 2023
1,518,170
1,518,170
N•t book valu•
At 31 December 2023
579,798
10,000
589,79B
Al 31 Da¢ember 2022
579, 798
10,000
589, 798
Prlncipal subsldlaries
The following were subsidiary undertakings of the charity..
Page 43

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
17. Flx8d assat Snv•stm•nts (continu￿)
Names
Company
number
Class of
share5
Holding
Included in
con5011datlon
Ayuverda Limilgd
Maharishi Education Centre Limited
Maharishi Garden Village Limited
Maharishi Foundation Limited
02167993
03362427
05322967
0304864
Ordinary
Ordinary
Ordinary
No share
capitsl
Ordinary
99% Yes
100% Yes
75¥. No
100.1. No
Maharishi Llmiled
5121468
The financial results of the subsKliarie$ for the year were..
Namos
Income
Expendlture
ProflVILo881
I Surplu
IDofi¢itl for
tho y•ar
Ayuverda Limited
Maharishi Education Centre Limited
Maharishi Garden Village Limited
Mah8rishi Foundation Limited
Maharishi Limitgd
143,590
589,380
24,295
{181,1791
{586,9531
125,9561
137,5891
2,427
1.661
N•t *8gèt$
1183,0811
581,934
15,776
14,7061
100
Maharishi Garden Village Limiled, Maharishi Foundats'on Limited, and Maharishi Limiled have not been
included in the consolidalion as they are considered immaterial in amount.
18. Sto¢k$
Group
2023
Group
2022
G¢x)ds for resale
16,341
Page 44

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
19. Dèbtors
Group
Group As restated
2023
2022
Charity
Charlty As restalecl
2023
2022
Due aftar more than on8 year
Amounts owed by group undertakings
Other debtors
721,463
25,000
756,810
25,000
25,000
25.(KlO
25,OOD
25.000
746.463
781,810
Group
2023
Group
2022
Charlty
2023
Charity
2022
Due wlthln on• year
Trade debtors
Amounts owed by group undertakiros
Other debtors
Prepayments and a¢￿ved income
Tax rgcoverable
51,976
39,384
33,530
1.847,520
31,250
30,291
1,828,609
2,424
59
8,454
51,250
764
6,394
15.788
59
6,454
6,394
110,384
67.685
1.918,694
7,867,837
20. Cr•dltorn: Amounts falllng due wlthln on• y•ar
Group
2023
Group
2022
Charlty
2023
Gh8rity
2022
Bank loans
Oth8r loans
Trade creditors
40.441
29,325
242,968
77,314
33,814
194.922
7,000
18,328
97,171
3,345
3,101
63,907
37,414
3,583
21,000
64,397
Amounts owed lo group undertaking5
Other laxalion and social security
Other creditors
Accruals and deferred income
14.761
143.811
15,582
15.028
184.433
2,924
6,408
121,295
521,093
230,266
219,60T
Page 45

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
21. Crèditors: Amounts falllng due aftèr mor• than onè yoar
Group
2023
Group
2022
Charity
2023
Charity
2022
Bank loans
Other loans
Accru81s and deferred income
170.836
1.398,189
17,149
212.490
1,392.512
34.235
137.173
539,695
147,021
512,674
1,586,174
1,639.237
676.868
659,695
The aggregale amount of liabilities payable or repayable wholty or in part morg than five y9ars after the
reporting date is..
Group
2023
Group
2022
Payable or repayable by instalments
9,901
612,258
9,901
612,258
Group bank loans are secured by a leg81 charge over land and buildings, included in the Group loans Is
an amount of £150,25412022'. £143,783) which is secured by a18gal charge over land 8nd buildings.
22. Prlor yoar adjustment8
Following the recommendations of p￿viOUS auditors and our own inveslig81ion of the status of the MF
Peace Palace fund, Ihe Trustees, Chiel Execulive and MF board have de¢idgd lo move this fund from
rgstricted to designated on the basis there are no resirictive clatjses in any of tho original fund raising or
re-financing used to build the Rendlesham Peace Pala￿. All original gifts and donations have been
properly discharged in the constnjciion and rrt out ol the building, none being of a restricted nature.
As this decision making process began prior to 1 January 2022 the Iruslees have restated the funds in
their intended purposes, including the Peace Pala￿ lund as a designated fund.
The effect of this on the results for the year were £Nil12022.'£Nill.
An adjustment was made to coThect Ihe loan inlerest incorrectly charged on an interest free loan to the
subsidiary, resuf(ing in an adjustment in the parent charity only to reduce designated reserves by
£123.516 and debtor5 by the same amount. In addib.on debtors falling due after more than one year of
£1,828.609 was re¢lasstfied lo dèbtors falling duè wthin one yoar. Therg was no effect on the
consolidated balance sheel or results for either adjustment.
Page 46

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
23. Statèm8nt of funds - Group
Statement of funds - current year
Balance at
31
Galnsl D&¢èmbèr
(Lossès)
2023
B•l•n¢• at 1
January
2023
Transkrs
Inlout
Income Expendlture
Unrestrlctèd
funds
Deslgnated
funds
Maharishi
Peace
Pala¢elSuffolkl
General grants
fund
2.977.362
59,629
{6,0271
3,030,964
76,865
{44,4441
17,1941
25,227
2,977,362
136.494
{50,4711
17,1941
3,056,191
General lund$
Genèral Funds
Revaluation
reserve
1989,686)
1,642,330 11,971,384)
11,529}
11,320,269)
1,373.370
1.373,370
1989,686) 1,642,330 11.971,3841
11,529}
1,373,370
53,101
Total
Unrestricted
fund$
1,987,676
1.778,824 12.021,8551
18.723}
1,373,370
3,109,292
Page 47

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
23. Statèm8nt of funds Icontlnu•d}
Restricted
funds
General
restricted fijnd
Golden Dome
fund
Vedic Pandils
fund
Purusha fund
28,565
128,5651
242.721
324,140
{298,7121
268,149
210.046
149.931
132,441
111.237
48,226
56,516
{77,6031
{17,1571
150,9271
5.494
4.395
249,174
185,395
138,030
THMD
National
Cohergnce
Lesley Woolley
Legacy
8ournemoulh
TM Centre
Invincibility
Schools fund
Ladies Peace
Palace
Woollacomt*
fund
Global Mother
Divine
Oxford
422.775
1,495
16,9011
417,369
51.006
51,654
186.681
12,813
18,0571
11.166)
190,271
942
{2381
1,400
3.594
(601
3,541
25
25
11,915)
181,954
1,887
{6321
(1161
182,422
1,608,766
558,249
1488,9681
8,723
1.686,770
Total of funds
3.596.442
2.337.073 12.510.823)
1,373.370
4,796,062
Page 48

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
23. Statèm8nt of funds Icontlnu•d}
Statement of funds - prior year
Bal8nce 8t
31
Da¢8mber
2022
{restatedJ
Balance at
l January
2022 As ￿stated As reslated
(restatedj
Inwe Expenditure
Transfers
in/out
Unrostrlctod funds
Dg$lgnated funds
Maharishi Peace
Palaeelsuffolkl
2.950, T42
(3.479J
2,977,362
General funds
General Funds
(518, 797)
1,608,987 (2,079,086J
(790)
(989,686)
Total UnrestrScted funds
2.431.945
1,639.086 (2,082.565J
(790)
7,987.676
Page 49

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
23. Statèm8nt of funds Icontlnu•d}
Balanc8 at
31
December
2022
{restaled)
Balance at
l January
2022 As restated As restated
(restated)
Income Expendlture
Transfers
in/out
Re$trl¢tod fund$
General restricted fund
Golden Dome fund
Vedic Pandits luntl
Purusha fund
37.386
288,277
65,234
62,287
114,465
421,999
49,369
183,309
1, 101
3.686
25
(120)
181.978
20,216
170,973
259,320
118,725
52,993
1,780
120
9,453
692
(29,037J
{216.529J
{113,533J
(30. 106J
(34.042J
(2,231J
28,565
242, T21
210,046
149,931
132,441
422, TT5
51,006
186.681
942
3,594
25
(7,915)
187,954
(975)
(975)
(9T5)
1,227
1,517
1,262
(297)
THMD
National Coherence
Lesley Woolley Legacy
Bournemouth TM Centre
(7,343J
(560J
(95)
InvinrAbility Schools lund
Ladies Peace Palace
Woolla¢ombe fund
Global Molher Divine
Oxford
532
(2,327J
(95J
71
1,408.996
634,878
{435,898J
790
1,608, 766
Total of funds
3.840.941
2,273.964
(2,518.463J
3,596.442
Page 50

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ststemgnt offund$- Charity
ststem¢nt of funds- current
Balance at
1 January
2023
Irgststsd
Balance at
GOIn￿ 31 Dg¢ember
ILossgs1
2023
Tran4grs
Inlout
In¢¢m• Exp•ndltur•
Unr•strlet•d funds
Déslgnatèd fund$
Maharishi Peace
pala¢g Isuffdkl
Gener81 grants fvjnd
2.536,917
84,282
76,865
173,2351
144,4541
2,547.964
25.217
17,1941
2.536.917 161.147
1117.6891
17.1941
2,573,181
G•n•ral fvnds
Gèneral funds
R￿QluatIOn reseTre
1431.2151 1.W7.582 {1.231,4371
11,5281
1656.5981
1,373,370
1,373,370
1431,2151 I,￿7.582 {1,231.4371
11,5281 1.373,370
716,772
Unr•strScted funds
2.105.702 1,168,729 11.349,1261
18.7221 1.373.370
3,289,953
Page 51

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Stat8m•nt of funds - Charity Icontlnuad)
Balance at
1 January
2023
Ire*atèd}
Balance at
GainFJ 31 Decernber
ILoss8sl
2023
Tran4gr5
inlout
Incom• Exp•ndlturo
Rèarict•d fund$
General reslricled
nd
28,555
128,555
1298.7121
(77,603
{17,157
I￿),927
6,9011
Goldan Domè fijnd
242.721
324. 140
111,237
49,872
56,516
494
266,149
Vedic Pandits ftJrKI
210,046
149,930
132,441
422,775
5,494
2,747
249,174
185,392
138,030
417,368
PurtAsha fvnd
THMD
National Coherence
Lesley WO￿leY
Legacy
Boumemoulh TM
C4nlre
In%4ncibillty S¢h¢)ols
nd
51,CX
51,654
186,661
12.813
18,0561
11,1671
19),271
942
12381
1601
1,400
3,541
25
Ladies Peace Palace
Woolacombe fund
25
Global Mother DiI4ne
11,9151
181,954
1,887
16321
11181
16601
182,422
Oxford
Restrl¢ted lund$
1.608,755 558,246
1488,9571
8,722
1,686,766
Total of funds
3,714,027 1,726.975 {1,838,083}
4,976,719
Page 52

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
D8scrlptlon of funds
al Unrestricted funds
il General Fund
The General Fund includes all of the un￿striCted funds of the Charity. These include the National Offices
in Skelmersdal8 and Rendlesham, which deal with the administration of courses and the finances and
accounts of the Charity, expansion and media activities, administration of Maharishi Open University in
the UK, and the publicabon Yranscendental Meditats'on News" magazine.
ii1General Grants Fund
This fund contains amounts r￿ley(l with no specffic restnclions, bLrt which have been deslgnated for
use by the Iruslees.
iiil Maharishi Peace Palace
Suffolk
Fund
In September 2￿7 the Trustees passed a resolution to establish the Maharishi Peace Palace (Suffolkl
Fund lo fund the construction and maintenance ol an educational facility in Suffolk. The Maharishi Peace
Palace is being used lo provide educational courses arKI a venue for group practice of Transcendentsl
Medilalion and the TM- Sidhi programme.
ibl Ro$lrl¢tgd fund$
il General Restricted Fund
This lund contain5 investmènts 8nd some cash. Investment of lunds 8nd gr8nts awarded from this fund
are made al the recommendation of the donors of the funds, wlhin the objects of Maharishi Foundation,
and wilh the approval of the Tmslees.
Dlden Dom
Fund
A special fund, 'The Golden Dome Fund,. was established in February 1983 ￿ finance a project to build a
Golden Dome Ihat would accommodate a group 01800 practitsoner5 of ihe Transcendental Meditation
and Tm-sidhi Programme. This number is the square rtK)l of one per cent of the population of Great
Britsin- the number required lo produce the Maharishi Effe¢t.
This facility. Golden Dome bn Skelmersdalg. is used, for educational courses and group pr8¢tice of
Transcendentsl Meditstion and the Tm-sidhi Programme by local ￿SIdents and visitors to the facility.
iiil Vedic Pandits Fund
This fund was established in 2001 10 5UPPOrt the settiro up and maintenance of groups of Maharishi
Vedic Pandils from India. The purpose of these groups is to praclise different aspects of Maharishi's
v￿1C Science in order to develop higher stales of consciousness and Sp￿ad an influence of pe8¢e and
harmony throughout th8 wodd.
iv) Purusha and THMD
The Purusha and THMD Teslricled funds were set up to promote courses to develop the mentsl and
creative potential ol the individual. The Purusha fund supports ￿urseS for men and the THMD fund
supports courses for ladies.
vl National Coherence Pro ect
This is a restricted fund set up with the aim of raising funds to suppcffl a pemianent group ol people
practising the Transcendental Meditation and Tm-sidhi Programme to create coherence in national
consciousness through the Maharishi Effect.
vil Lesle Woolle
The Charity was left a legacy by Lesley w￿lley. who died in August 2001. The Trustees want to honour
the wishes of Lesley Woolley as dosely as possible and are currendy developing new projects where her
legacy can be applied in a manner that will fulfil her inientions as expressed in her Will.
Page 53

Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
vill Revaluation Reserve Fund
The revaluation of the Bournemouth TM Cenlre and the Golden Dome have been kept in a seperate
restricted fund to match the cost of the properties. funded by restricted donations.
viiil Boumemoulh TM Centre
In 2010 a propety was purchased in Boumemouth to be use(1 for a Transcendentsl Meditation TeachSng
Centre. The purchase price was largely funded from a granl.
ixl Maharishi Invincibili
Schools Fund
The Maharishi Invincibility Schools Fund. fvnds the promotion and introductK)n of Consciousness-Based
Education ICBEI In existing schools and colleges. including costs of faculty training and provision of CBE
courses and study f8¢ilities for students and te8¢hers. The fund will 81s0 be used lo fund the development
of new schools and c￿le98$ buill according lo the principles ol IAaharishi Sthapalya Veda. lo provide
scholarships to assist students and teach8(S to leam Transcendental Meditation and related Advanced
Techniques, and to provide scholarships lo students who may require help lo pay tUIt￿n fees and other
school or college fees in the context of CBE.
xl Ladies Peace Palace Fund
The Fund was sel up lo raise funds to establish an educational facility for ladies lo be known as a Ladies
Peace P8lacg. with similar objectives lo the facility bein9 developed in Suffolk.
xil Global Mother Divine O
anisalion
The Global Mother Divine Or9anisalion IGMDO} is as a separale division ol Maharishi Foundation which
serves and nourishes the ladies and girls of the UK arKI the world through Total Knowledge. The GMDO
divisK)n ol M8h8rishi Foundation indudes five e(lucational departments. The fund had an overspend In
the year which was rectsfied in 2024.
xiil Oxford
The Oxford fund is a special fund set up for a Transcandantal Meditaknon centre for Oxford to be
established. The aim is lor any building acquired lor teaching purposes to be named after the donor's
mother Edith Saunders who passed away in the mid 1990s.
xiiil Wooll8¢ombe fund
A gift from the estste of Graham Woollacombe's mothgr used ft)r 0￿$10n81 training and educational
grants
25. Sumfflary of funds
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
25. Summary of lunds Icontlnuod)
Summary of funds - current year- The Group
IRestatedl
B•l¥nce at 1
January
2023
Balance at
31
Galnsl D&¢èmbèr
(Lossès)
2023
Transfèrs
Inlout
Income Expendlture
Designated
funds
General funds
Restricted
funds
2,977,362
1989.686)
136,494
{50,4711
1,642.330 11.971.384)
17,194)
11.529}
3,056,191
53,101
1,373.370
1,6Q8.766
558,249
{488,9681
8.723
1.686,770
3.596.442
2,337,073 12.510.823)
1,373.370
4,796,062
Summary of funds. prlor year
Belance at
31
Deceml)er
2022 as
rgslatsd
Balance 8t
l January
2022 8s As Trslated As Trsl8led
slated
Income Expenditu
Trnnsfers
in/oul
Designated fijnds
Gentrr81 funds
Restridgd funds
2.950. T42
{3.479J
(518, 797) 7,*S08,987 (2,079.086J
1,408.996
634,878
{435,898J
2,977,362
(790) (989,686)
790
1,608, 766
3,840,947
2,273,964 (2,578,463J
3,596,442
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
26. Analysls of n•t ass•ts b8lw8•n funds
Analysis of net assets between funds - current year
Unrestricted Restrlcted
funds
fund$
2023
2023
Total
funds
2023
Tangible fixed assets
Intangible fixed assets
Fixed assel investments
Debtors due after more than one year
Current assets
Creditors due within one year
Credilors due in more Ihan one year
5,838,803
25.508
291
404,475
6,243.278
25,508
10,291
25,000
618.799
1540,6401
11,588.1741
10,000
25,000
1,247,295
1628.4961
1540.640
(1,586,174
Totsl
3,109,292
1,686,770
4,796,062
Analysls of net a$$•ts b•twa•n fvnds - prlor ￿ar
Unr9s1ricl8d
funds as
r&slated
2022
Restrictsd
funds 8$
restaled
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
4.567, 155
291
448,435
5,015.590
10,000
10,291
25,000
25,000
882,905
705,891
f78,668)
(521,093)
321,094 (1,639,2371
Debtors due after more than one year
Current asse15
Creditors dLJg Wlthin ong year
Credilors due in more than one year
{777.014)
(442,425)
(1,960,331J
Total
1.98T.676
1,608. 766
3,596,442
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
27. R•conelllatlon of not mov•m•nt In lunds to net cash flow from 0￿ratIng activltlès
Group
2023
Group
2022
Net expenditure for Ihe year las per Slatement of Financial Actiwtiesl
1173,7501
f244,499)
Adjustments for:
Deprgualion Charges
Amortisation charges
Dividends. interests and rents from investments
Decrease in stocks
DecreaseIlin￿ea$e> in debiors
Increaselldecreasel in creditors
Intere51 payable and similar expensès
146,432
4,442
17,0571
16,341
148,6991
43,823
53,102
159,054
(773)
29,534
26,415
(27,937)
39,875
Net ¢a$h provldod byl{u$ed In} operatlng a¢tlvltS0•
34.634
(18,391)
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
28. Analysls of cash and cash •qulval•nts
Group
2023
Group
2022
Cash at bank
508.415
627,865
Total cash and cash equivalents
508,415
627,865
Analysls of Changes In net debt
At1
January
2023 Cash flow8
At31
Docember
2023
Cash al bank and in hand
Debt due within 1 year
Debt due 8ftèr l year
627.865
1111.128)
{1,605.002)
1119.450
508,415
41,362
{69,7661
35,977 11,569,025)
{1,088.265}
142,1111 11,130,376)
30.
P•nslon commStm•nts
The group operates a defined ¢onlribulion pension scheme. The asse15 of the scheme are held
sep8ralely from those of the group in an independenuy administe￿d funij. The pension ¢osl charge
represents contributions payable by the group lo the fund and amounted lo £6,861 12022 - £6,289) No
amounts were outstanding lo the scheme al either 31 Decembgr 2022 or 2023.
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Do¢Jslgn Envdope ID." 4FA9F12C.38LKH1C3-92D4-9564E4B441FC
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
31. Related party transactions
By virtue of at least c£Jmmon Trustee and certain related objects and activities, Maharishi Foundab'on is
connected lo the followng parties..
al Spiritual Regeneration Movemenl of Great Britain
SRM made a loan of £155,1#)O to Maharishi Foundation in 2010 in order to help it purchase a building to
be used as an administrative centre for the Charity in Rendlesham. Suffolk. An additional £5,000 was
added to the loan by SRM In 2012. The k)an caffles 8 first charge over the property and accrues interest
0130A above bank base rate. The loan is a long-tem 108n and the loan plus 3￿rued interest is not
rgpayable until the propety is sold or until the Truslees of Maharishi Foundation decide to make
r8paym8nt at th8ir discretion. Inlefèsl accyuèd in 2023 was £16,94612022- £9,128>.
bl David Lynch Foundation UK
In 2023 Maharishi Foundation paid £700 12022.. £8001 to Davi(J Lynch Foundation UK to support ils
promotional 8Ctivilies Ihal ￿sU11e¢l in many people taking courses offered by M8harishi Foundalitsn. A
grant of £23.05012022". £NILI was awarded lo David Lynch Foundation. No amounts wer8 due lo David
Lynch Foundatson al 31 December 2023131 December 2022- £Nill.
cl Invincible Scotland Trust
In 2023 Maharishi Founijalion paid standard commission on leaching fees of £30,754 to Invincible
Scolland Trusl12022. £27,352). No amounts were due lo Invincible Scotland Trust al 31 December 2023
131 Oecember 2022- £Nill.
dl Peace Palace Membership
A number of the Trustees are membets of the Pe8ee Palace. Memberships have been purchased on
normal commercial lems.
el Stitching Maharish5
P Warburton has confirmed he is a member wilh some degree ol rnanagement over 3 Siilching Maharishi
Organisalions. A total of £31,85412022'. £NILI was paid to these organisations in the year. No amoun15
were due lo Slilching Maharishi at 31 December 2023131 December 2022- £Nill.
fl Closg Family remun8rabon
During the year an amount of £12,36012022: £12.3601 was paid as remuneration to L Warburton Iwfe of
P Warburtonl.
The Charity h85 tsken advantage of the exemption available in paragraph 33.1A of FRS 102 and has not
dI￿lOSéd transactions 8ntèred into bètween wholly ownéfj group èntities that havè been eliminated on
¢onsolidation.
Page 59