D￿sIgn Envelope ID". C2568F7t>7E13423D-AOO&A3C3DF09A530
Charity numbers: 270157 & SC041919
MAHARISHI FOUNDATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

D￿sIgn Envelope ID". C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
Trustees. Report
Independent Auditor's Report on the Financial Statements
2-12
13-15
Consolidated Ststement of Financial Activities
16
Consolidated Balance Sheet
17
Charity Balance Sheel
Consolidated Statement of Cash Flows
18-19
20
Notes to the Flnanclal Statements
21-54

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MAHARISHI FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Jemima Pitman, Trustee representing England (resigned 30 June 20241
Dr Ajay Prakash Shrivaslava, International Trustee
David Rae, TrLJStee representing Scotland, National Director for Scouand
Gwyndaf Evans, Trustee representing Wales
David Hughes, Trustee representing Wales
Dr Deirdre Parsons lappointed 22 June 2024}
Charity registered
numbers
270157 and SC041919
Principal office
Maharishi Peace Palace
Rendlesham
Woodbridge
Suffolk
IP12 2GX
Chief executive officer
Dr Peter Warburton
Independent auditor
MHA
910 The Crescent
Colchester BLJsiness Park
Colchester
C04 9YQ
Bankers
Barclays Bank PIC
Lloyds TSB Bank PIC
CAF Bank Limited
Scottish Widows Bank
Edinburgh
Monmouthshire Building Society
Newport, South Wales
Virgin Money PIC
Newcastle Upon Tyne
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MAHARISHI FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the audited financial statements of the Maharishi
Foundation for the year 1 January 2024 10 31 December 2024.
The Trustees confim that the Annual Report and financial statements comply with current slatulory
requirements, the requirements of the trust deed, and the provisions of the Statement of Recommended Pfficlice
ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102)
FURTHER EDUCATION & OTHER INITIATIVES
Maharlshl Vedlc Sclence
Maharishi Foundation also offers courses in Maharishi Vedic Science. Veda means 'knowledge'
total
knowledge of Natural Law. Maharishi Vedic Science courses offered by the Charity cover four main areas..
"Maharishi's Total Knowledge and Higher Stales of Consciousness {a systematic and complete overview of
Maharishi Vedic Science}., prevention-orienled health care through Maharishi Ayurveda,. knowledge of
architecture and planning in accord with the laws of nature through Maharishi Slhapalya Veda,. and the science
and art of music that is in accord with Natural Law through Maharishi Gandharva Veda.
During 2024, Dr Peter Warburton, the Chief Executive of Maharishi Foundation. in concert with the Maharishi
Peace Palace administrative team, continued lo lead a comprehensive series of online courses based on
Maharishi's Total Knowledge attended by participants from the UK and many parts of the globe. A totsl of
approximately 800 people have attended these courses in 2024.
Maharishi Ayurveda
The Charity is also involved in the promotion of Maharishi Ayurveda in UK. Ayurveda is the world's longest
continually practiced medical science. Developed in India over 6,000 years 8go, Ayurveda (knowledge of the
quality 8nd span of lifel is a natural approach lo creating balan￿ and strengthening the body's innate healing
ability. It is acknowledged by the World Health Organizalion and is growing in its global use as one of the most
effective systems of natural healthcare. Twenty years ago, Ayurveda was almost unknown outside India.
Comprehensive knowledge of il had become fragmented and lost. Working with the foremost Ayurveda experts
in India, Maharishi systemalized and restored il in ils completeness. This revilalized form of Ayurveda is now
known as Maharishi Ayurveda. The goal of Maharishi Ayurveda is to prevent sickness and promote balanced
health and longevity by enlivening the inner intelligence of the body and strengthening its natural healing ability.
AwNeda Ltd remains dom)ant whilst managing remaining creditors in advance of closure.
PROPERTIES OWNED BY MAHARISHI FOUNDATION AND ITS SUBSIDIARIES
Maharlshl Peace Palace. Rendlesham, Suffolk
The Maharishi Peace Pala￿, the first of its kind in the UK, lies al the heart of the Maharishi Garden Village
IMGVI in Rendlesham, Suffolk. The Peace Palace has been constructed according lo Maharishi Sthapalya
Veda, which embodies the ancient principles of Vedic architecture in accord with 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 lo one-monlh or longer. Al deepen the understanding and experience of
Transcendental Meditation and associated programmes. The Peace Palace residential course programme has
successfully provided courses and retreats throughout 2024 with 1,235 Course participant days 12023 - 1,6031
and returned a small bul noteworthy profil, with a strong program undeN4ay for 2025.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
In the absence of residential courses during the coronavirus pandemic, Maharishi Education Cenlre, the owner
and operator of the Peace Palace, continued lo run a series of online courses through the Maharishi-online
platfom). These live interactive online courses, having started lo 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 to enjoy in the comfort of their own homes. Supplementary income from 614 online
course participants 12023 - 804} was generated throughout the year. Past courses are available to view on-
demand as"Archive Treasures..
Golden Dome Skelmersdale
A variety of online and in-person, individual meetings, one day and residential courses were held through the
year with a total of 872 course participant days12023- 1,3961.
In consequence. the courses programme finished the year strongly with a reasonable profil.
Membership levels held steady throughout 2024 and regular donations We￿ regularly raised as well as
supplementsry funding for major roof repairs. The internal refurbishment program is largely complete.
The Dome has been running Transcendental Meditation retreats for 34 years and is estimated to have hosted
over a million meditations.
A variety of online and in-person, individual meetings, one day and residential courses were held through the rest
of the year with a total of 1,420 {2023 - 16011 course participant days in the year. Together with continued strong
financial support from Dome members, this allowed the Dome to end the year with a small profil. Membership
levels and donations held steady throughout 2024.
In addition, Transcendental Meditstion is laughl regularly lo people in the region including local parents and
children at the Maharishi School.
Other propertles owned by Maharlshl Foundatlon
Bournemouth Transcendental Meditation Centre (from 20101
9 Garden Square, Rendlesham120111
SUBSIDIARY. ASSOCIATED & RELATED PARTIES
Subsldlary companles of Maharlshl Foundatlon
Maharishi Education Centre Limited {MECI
Ayurveda Limited
Maharishi Garden Village Limited
Maharishi Limited (Dormant)
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
Related Partles of Maharishi Foundation
By virtue of common Trustees or Directors and related objects and activities, Maharishi Foundation is connected
to..
The Spiritual Regeneration Movement of Great Britain (Charity number 2040251
David Lynch Foundation UK (Company number 07933959 and Charity number 11466431
Maharishi Wodd Development Fund Icharily number 3287381
Invincible Scotland Trust (Scottish Charity number SC013238}
Maharishi School Trust Ltd Icharily number 5179581
Maharishi International Gr8duate School (Company number 9023572 and Charity number 11782301
Maharishi Ayurveda Institute (Charity number 8002981
Maharishi Foundation Limited
Detsils of transactions and balances with these connected parties are given in note 30 to the financial
slalemenls.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
OBJECTIVES AND ACTIVITIES
a. Policies and objectives
The objects of the Charity are lo advance the education of the public by providing and assisting in the provision
of training, meetings. classes and other leaming opportunities., and lo develop the physical. mental, creative
andlor spiritual capacities of individuals and the public at large through the provision of, or assisting in the
provision of, education and training, in particular in all aspects of 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 lo general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit." running a
charity IPB21'.
b. Investment policy
The Trustees have the power lo invest unreslricled funds in such assets as they see fit in a prudent way that will
attain good results with largeled returns.
e. Fund-ralslng
roach taken to fundraisin
The Charity raises funds by campaigning for donations for t)olh general and specific purposes. The annual
fundffiising campaign generates donations towards general administration expenses, whilst specific fundraising
activities generate funds for reslricled funds such as Purush and Pundits, or designated funds and investments
such as new TM Cenlres and maintenance of existing ones.
ecific re
ulations a
licable
The charity has not been subject to any specific regulation outside of normal charity commission requirements.
Monitorin
fundraisers and com
lainls
Fundraisers are appointed and monitored by the CEO and are issued with appropriate guidance, there are no
fundraisers employed. Donation and bequest forms are prepared in 8ccordance with CC rules and expectations.
No fundraising complaints have been received.
Sle
s to ensure vulnerable
eo
le
Vulnerable people are protected within the range and scope of the charity's policies, stsff are regularly reminded
of their responsibilities regarding safeguarding of vulnerable individuals.
The Charity had several fund-raising activities during the year, but none requiring disclosure under S162A of the
Charities Act 2016.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL STATEMENTS AND RELATED POLICIES
a. Overall financial performance
Maharishi Foundation and ils subsidiary undertakings generated a deficit of £386,007 in 2024 12023 surplus of
£1.199,620). TM numbers remained flat again in 2024, and revenue shortage forced a change in advertising
policy with a very reduced budget very locally focussed. Fortunately organic leads grew substantially lo fill the
gap left by withdrawing from paid advertising. The 2023 surplus was as a result of a revaluation gain.
The Maharishi Peace Palace IMEC Lldl completed its successftjl turnaround program and continues lo report a
small operating surplus.
Ayurveda Ltd remains dormant.
People taking courses in 2024..
Course
2024
2023
Transcendental Meditation
TM Ad￿need Techniques
Tm-sidhi Course
Tm-sidhi Refresher
Residence Course psrticipanl days
Day Course participants days
Online Course participants
1,385
219
28
1,917
-28Wo
23
78
1,601
1,396
804
22010
2,127
1,420
614
330/0
20/.
-240/.
b. Donations
The 2024 annual donation event raised £15,00012023 - £18,428).
An amount of £71,78712023 - £70.4801 was raised in donations to promote the unique education provided to
Maharishi Vedic Pandil students by Maharishi Mahesh Yogi Vedic University.
The Charity continued to receive donations for its Purusha Fund and THMD Fund (see note 4}- Donations
received by both groups combined were £58,170 12023 - £84,363) and grants made were £174,813 12023
£60,044).
e. Charitable Grants
The Charity made charitable grants during the year of £333,81312023 - £202,357}. See note 11 of the financial
slatemenls.
d. Expenditure
Maharishi Foundation Charity results included a part reversal amounting to £20,572 of the impairment of their
investment in subsidiaries 12023 £Nill. Should an impairment or a reversal of an impairment occur, on
consolidation this is reversed and therefore does not impact on the results of the Group.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
a. Going concern
During the COVID-19 pandemic, the Charity introduced a smartphone App lo support the delivery of ils teaching
programme while in-person courses were reslricled. With the lifting of restrictions, the impacts of COVID are no
longer affecting operations, and both premier course facilities are running residential programmes as normal.
The App continues to provide ongoing benefits, enhancing regularity of practice and engagement with follow-up
programmes among existing practitioners.
However, with the advent of significant inflation in the UK from March 2022, demand for TM remains sl around
two-thirds of pre-COVID levels. In consequence, the Board and Trustees are reviewing the promotional strategy
for 2025 with a much tighter targeting approach focused on the most successful locations.
During the financial year, the Charity has undertaken significant cost-cutting reviews and exercises to streamline
its cost base and ensure value-for-money across ils expenditure. This streamlined cost base has provided
stronger financial foundation, allowing the Trustees to prepare forward plans and budgets that demonslrale the
Charity's ability to continue ils operations, meet ils liabilities as they fall due, and progressively improve its
reserves position. Detailed consideration is also given by the Trustees lo the Trust's liabilities, including
commercial and other loans, to ensure that sufficient cash flow is maintsined to meet payment terms.
The Trustees and management have prepared forecasts that indicate that the Charity and its subsidiary
undertakings have sufficient resources to continue in operation and to meet their liabilities as they fall due for the
foreseeable future, being a period of 12 months from the dale of approval of the Annual Report and financial
slatemenls. Accordingly, the Trustees have prepared the financial statements on a going concem basis.
b. Reserves pollcy
Notes 22, 23 and 24 show the assets and liabilities attributsble to each fund and summarise the movement on
each fund during the year.
Al a Trustee meeting on 30 December 2015. the Trustees approved an unrestricted reserves policy target of
£50,000. This policy carries forward into the current year. The unrestricted reserves of the Charity al 31
December 2024 were in surplus of £3,175,060 12023 surplus of £3.289,9531. The surplus resulting from the
policies employed following auditor's recommendations.
The unreslricled reserves of the Group at 31 December 2024 were in surplus of £2,990,05012023 - surplus of
£3.109,292).
The Trust has free reserves of 1£2,694,330112023 - 1£2,729,51111 al 31 December 2024. Free reserves are
defined as unrestricted reserves, less tangible fixed assets. These represent the Trust's funds that are freely
available lo spend on any of ils purposes. The policies noted above, and considerations noted in the going
concern section of the Trustees, report, form the Trust's plan lo bring these fffte reserves lo a surplus position.
¢. Publlc Beneflt statement
This statement complies with the duly in section 4 of the Charities Act 201110 have due regard lo Public Benefit
guidance published by the Charity Commission. The Trustees have reviewed this guidance when reviewing our
aims and objectives and in planning future aclivilies. The Trustees consider how planned activities will contribute
to the aims and objectives they have set.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
d. Prlnclpal rlsks and uncertalntles
The Trustees have a risk management strategy. This comprises an annual review of risks the Charity may face
and the establishment of systems and procedures lo mitigate those risks and the maintenance of a risk register.
e. Financial risk management objectives and policies
The Charity has been able to rely on largely consistent income from educational activities and donations from
supporters over the years. This continues. However, major expansion activity h8S taken place during the past 10
years commencing with the construction of the Maharishi Peace Palace al Rendlesham and continuing with the
increased marketing effort lo instruct many more people in TM starting in January 2018.
Annual budgets are produced for each key department. Commencing In 2019. the Trustees now review these in
the final quarter of each year. Generally, monthly budget reports are produced across the 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.
f. Prlnclpal fundlng
About 900/0 of the operational funding of the Charity comes from the teaching of Transcendental Meditstion.
COVID impacts in 2021 and into 2022 caused a significant hiatus leading to teaching income with 2023
continuing at around two thirds of normal levels. Ancillary sources of course income, including new online
offerings, have improved the situation. To date in 2025 we expect to finish at a slightly higher level for the year.
The other main source of income is regular donations. These usually come into specific restricted funds which
are used lo support different projects. Each is discretely managed and very reasonable capitsl exists for the
major ones. Modest improvements in these were achieved during the year.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. Constitution
Maharishi Foundation is a registered charity, number 270157, and is conslituled under a Trust deed.
b. Appointment of Trustees
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 stipulates that the number of Trustees must not be less than three or more than
fifteen. The existing Trustees may appoint new Trustees by a resolution of a meeting of the Trustees. A
memorandum of appointment shall be signed and sealed by the person presiding at the meeting and attested by
two others present al the meeting.
All Trustees give their time voluntarily. Any expenses reclaimed from the Charity are sel out in note 15 to the
accounts.
e. Trustee Inductlon and tralnlng
New Trustees receive training notes and undergo training sessions lo brief them on their legal obligations under
Charity law and introduce them to the Trust Deed, Charity organisalion and management structure, the latest
audited accounts and management accounts, lax law, employment law retums to be completed, GDPR
compliance, the advisers and auditors of the Charity, current issues and future plans of the Charity.
d. Custodlan
The trust deed of the Charity provides for the appointment of a Custodian Ithe UK representative of Maharishi's
global organisationl who will have a duly to advise the Trustees on any maller relating lo the insight and
knowledge of all aspects of Maharishi Vedic Science, including the standards required for accrediting teachers,
in order lo ensure the Trustees are satisfied that the purity and full effectiveness of Maharishi Vedic Science is
preserved. At present the Custodian is also the Chief Executive.
e. Maharishi Foundation Board
During 2024, Maharishi Board continued lo regularly co-ordinate key aspects of operational management
including strategy implementation, financial planning, marketing, and oryanisational priorities. The Chief
Executive is chairman of this board. The Board works with key officers of the Charity and is empowered by the
Trustees with responsibility for expansion, promotion, running of courses and the operation of facilities owned by
the Charity. Monthly financial reports are forwarded lo the Trustees.
f. Marketlng Group
This is composed of various officers and advisers of the Charity and meets regulady to plan and commission
various marketing inilialives. 11 has a regular fortnighlly meeting with representatives of the GMG agency
specifically to review performance and tactics around our online advertising and website revisions.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Icontlnued)
g. National Directors
The Trustees have an administffitive structure in England, Scotland and Wales lo carry out the objectives of the
Charity. Policy decisions of Maharishi Foundation are made by the Trustees while implemenlalion is carried out
by the Chief Executive in collaboration with three national directors in Scotland, England, and Wales..
Nigel Grace, England
David Rae, Scotland
Helen Evans, Wales
The National Directors enlist the support of volunteers to promote education of higher consciousness in 12 areas
of society, namely.. schools and universities, health care, agriculture, architecture, administration, trade and
commerce, science and technology, law and order, cultural studies, political science and the economy, defence,
and communication.
h. Volunteers
The Trustees are immensely grateful lo the many volunteers who contribute their lime and skills to help run the
Charity, both centrally and in leaching cenlres around the country. Activities by volunteers include fundraising,
promotion of courses, administration, bookkeeping and supporting our teachers as they run courses and hold
advanced meetings in local areas
. Pay policy for key management personnel
As a Charity with a keen sense of mission and many long-lerm supporters, we rely heavily on 8 combination of
affordable compensation and voluntary additional input over and above fomal contractual 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 2024 annual pay of £62,00012023'. Four- £62,000).
J. Related party relatlonshlps
Trustees and principal officers complete a Declaration of Interests, Conflicts and Related Party Transactions
each year. Some UK-based Trustees as well as the CEO and COO have director roles in various subsidiaries of
Maharishi Foundation. None of these positions 8re remunerated. Occasionally there may be an external
organisation which is also declared,. the Trustees may then agree remuneration is in order on a case-by-case
basis. A Conflict-of-lnlerest policy also helps ensure proper transparency and accountability.
k. Trustees. Indemnltles
The Trustees, directors and employees have a liability insurance policy which provides cover in relation to claims
and investigations arising from breach of duly or trust, negligen￿, defamation, and breach of warrant of
authority. It also provides cover in relation lo injury or property damage and misuse of data.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for future perlods
A major focus Is being placed on branding and marketing development. Central lo this are the development of a
new public-facing website for advertising TM with a pilot landing page due lo 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.
Organisationally, the Maharishi Foundation Board is also looking at further opportunities to enhan￿ the
efficiency of the current organisalion, particulady with several staff members looking to retire. The Board has
succession planning as an ongoing focus.
During 2025, a major new facility is to be fully commissioned as the Edinburgh Peace Palace. This purpose-built
building is designed according lo the Vastu principles of Maharishi Sthapatya Veda and includes 7 private flats in
addition lo a new Transcendental Meditation leaching centre for the city. The development is being undertaken
by Pada Vastu Ltd, a company wholly owned by Invincible Scotland Trust, a sister charity lo Maharishi
Foundation.
Finally, a major objective is lo replace premier leaching cenlres in London with a more central one. This wll
involve collaborative development with the Spiritual Regeneration Movement ISRMI and the Edna Linnell Trust.
Statement of Trustees, responslbllltles
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Praclicel.
The law applicable lo charities in England & Wales and Scotland requires the Trustees lo prepare financial
statements for each financial year which give a true and fair view of the stste of affairs of the group and the
charity and of their incoming resources and application of resources, including their income and expenditure, for
that period. In preparing these financial stalemenls, the Trustees are required to..
select suitable accounting policies and then apply them consislenuy.,
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent",
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material
departures disclosed and explained in the financial ststements.,
prepare the financial statements on the going COn￿M basis unless il is inappropriate lo presume that the
group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain
the group and the charitys transactions and disdose with reasonable accuracy at any time the financial position
of the group and the charity and enable them to ensure that the financial statements comply with the Charities
Act 2011, the Charity (Acwunts and Reports) Regulations 2008, the Charities and Trustee Investment
(Scotlandl Act 2005, the Charities Accounts (Scotlandl Regulations 2006 las amended) and the provisions of the
Trust deed. They are also responsible for safeguarding the assets of the group and the charity and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
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MAHARISHI FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
Dlsclosure of Informatlon to audltor
Each of the persons who are Trustees at the time when this Trustees, Report is approved has confimed that..
so far as that Trustee is aware, there is no relevant audit infom)alion of which the charitable group's
auditor is unaware, and
that Trustee has taken all the steps Ihat ought lo have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitable group's auditor is aware of that
information.
Approved by order of the members of the board of Trustees and signed on their behalf by..
&Jiybf
David Hughes
Trustee
Date'.October 31, 2025
Gwyndaf Evans
Trustee
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MAHARISHI FOUNDATION
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAHARISHI FOUNDATION
Opinion
We have audited the financial statements of Maharishi Foundation (the 'parent charity'l and its subsidiaries Ilhe
'group'l for the year ended 31 December 2024 which comprise the Consolidated Ststemenl of Financial
Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash
Flows and the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Acwunting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Auepted A¢¢ounting Pra¢tice}.
The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities
preparing their accounts in accordan￿ with the Financial Reporting Standards applicable in the UK and Republic
of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended
Practi￿ issued on 1 April 2005 which is referred to in the exlanl regulations bul has been withdrawn.
This has been done in order for the accounts lo provide a true and fair view in accordan￿ with the Generally
AC￿pted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial stalemenls..
give a true and fair view of the slate of the group's and of the parent charitls affairs as at 31 December
2024 and of the group's incoming resources and application of resources, including its income and
expenditure for the year then ended.,
have been properly prepared in accordance wtth United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Charities Act 2011, the Charities and
Trustee Investment (Scollandl Act 2005 and regulations 6 and 8 of the Charities Accounts (Scollandl
Regulations 2006.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUK}l and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial slalemenls section of our report. We are independent of the group in accordance with the ethical
requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical responsibilities in
accordan￿ with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial slatemenls. we have concluded that the Trustees, use of the going cOn￿M basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfom)ed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast significant doubt on the group's or the parent charitys ability
to continue as a going concern for a period of at least twelve months from when the financial slalemenls are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
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MAHARISHI FOUNDATION
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAHARISHI FOUNDATION ICONTINUEDI
Other information
The other information comprises the information induded in the Annual Report other than the financial
statements and our Auditor's Report Ihereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
ex￿p1 to the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the course of the
audit, or olhenNise appears to be materially misstated. If we identify sueh material inconsistencies or apparent
material misstalemenls, we are required lo determine whether this gives rise lo a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misstalemenl of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities IAccoLJnts and Reports)
RegLJlalions 2008 and the Charities Accounts (Scolandl Regulations 2006 las amended) requires us lo report to
you if, in our opinion..
the information given in the Trustees. Report is inconsistent in any material respect with the financial
statements. or
the parent Charity has not kept sufficient and proper accounting records., or
the parent charity financial statements are not in agreement with the accounting records and retums., or
we have not received all the infomation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
inlemal control as the Trustees determine is necessary to enable the preparation of financial statements that are
free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the group's and the parent
charills ability to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent
charity or to cease operations, or have no realistic alternative but lo do so.
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MAHARISHI FOUNDATION
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAHARISHI FOUNDATION ICONTINUEDI
Auditor'$ rgsponsibilitigs for the audit of the financial statgmgnts
We have been appointed as auditor under section 151 of the Charities Act 2011 and section 4411 Ilcl of the
Charities and Trustee Investment Iscotlandl Act 2005 and report in accordance with the Act and relevant
regulations made or having effect Ihereunder.
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due lo fraud or error, and to issue an Auditor's Report that includes our
opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when il exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to Influen￿ the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misslatemenls in respect of irregularities,
including fraud. The exlenl to which our procedures are capable of detecting irregularities, including fraud is
detailed below..
Enquiry of management around actu81 and potential litigation and cl8ims-
Perfomiing audit work over the risk of management override of 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 eslimales for bias.,
Reviewing minutes of meetings of those charged with governance
Reviewing financial statement disclosures and testing lo supporting documentation lo assess compliance
with applicable laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.o
.uklaudilorsres
onsibilities. This description forms part of our
Audilorfs Report.
Uso of our roport
This report is made solely to the charitys trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008 and regulation 10 of the Charities Accounts (Scollandl Regulations
2006. Our audit work has been undertaken so that we might slate to the charills trustees those matters we are
required to slate to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law,
we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our
audit work, for this report, or for the opinions we have formed.
Cara MillerACCA (Senior Statutory Auditor) for and on behalf of MHA Statutory Auditor
Colchester, United Kingdom
Date'.October 31, 2025
MHA are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales
(registered number OC4555421.
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Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestri¢led
funds
2024
Re$tri¢led
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from-
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
178,651
708,200
608.049
17,026
194,872
94,357
32.390
6.266
373,523
802,557
640.439
23.292
598,214
1, 124,812
586,990
7,057
20,000
Total income
1.511.926
327.885
1,839.811
2,337,073
Expendlture on:
Raising funds
Charitable aclivtties
514,184
1,125,343
514.184
1,711,634
596,988
1,913,835
586,291
Total expenditure
1.639.527
586.291
2,225.818
2,510,823
Net expenditure
Transfers be￿een funds
(127,601)
8.359
{258,406)
{8.359)
{386,007)
(173, 750)
22
Net movement in funds before other
recognised gains
(119,242)
(266,765)
(386,007)
(173, 750)
Other recognised gainslllosses):
Gains on revaluation of fixed assets
1.373,370
Net movement in funds
1119,242)
(266,765)
{386,007)
1, 199,620
Reconciliation of funds:
Total funds brought fotward
Net movement in funds
3.109,292
(119,242)
1,686,770
(266.765)
4,796,062
{386.007)
3,596,442
1, 199,620
Totsl funds carried forward
2,990,050
1,420,005
4,410,055
4,796,062
The Consolidated Ststement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 2110 54 form part of these financial stalemenls.
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MAHARISHI FOUNDATION
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Noto
Fixed assets
Intangible assets
Tangible assets
Investments
16
20,725
6,093,127
10.291
25,508
6,243,278
10,291
18
6,124.143
6,279,077
Current assets
Debtors.. amounts falling due after more than
one year
Debtors.. amounts falling due within one year
Cash at bank and in hand
19
19
27
25,000
95,700
247,332
25,000
110,384
508,415
368,032
643,799
Current liabilities
Creditors.. amounts falling due wilhirb ofbe
year
20
1518,3041
(540.640)
Net current liabilities l assets
{150,272)
103, 759
Totsl assets less current liabilities
5,973.871
6,382,236
Creditors.. amounts falling due after more
than one year
21
11.563,816)
(1,586, 174)
Ngt assets excluding pension assgt
4,410,055
4,796,062
Total net assets
4,410,055
4, T96,062
Charity funds
Restricted funds
Unrestricted funds
22
1,420,005
2,990.050
1,686,770
3, 109,292
22
Total funds
4,410.055
4,796,062
The financial statements were approved and aulhorised for issue by the TrLJStees and signed on their behalf by..
Davld Hughes
Trustee
Gwyndaf Evans
Trustee
Date.. October 31, 2025
The notes on pages 21 10 54 form part of these financial stalemenls.
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Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
CHARITY BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Noto
Fixed assets
Tangible assets
Investments
17
2,114,738
610,370
2. 160,979
589, 798
2,725.108
2, T50, 7T7
Current assets
Debtors.. amounts falling due after more than
one year
Debtors.. amounts falling due within one year
Cash at bank and in hand
714,619
1.903,584
201,736
746,463
1,918,694
467,919
19
2,819,939
3,133,076
Currgnt liabilitigs
Creditors.. amounts falling due within one
year
20
1244,3431
(230,266)
Net current assets
2,575,596
2.902,810
Total assets less current liabilities
5,300,704
5,653,587
Creditors.. amounts falling due after more
than one year
21
(705.639)
(676,868)
Total net assets
4,595.065
4.976,719
Charlty funds
Restricted funds
Unrestricted funds
22
1,420.005
1,686, 766
Designated funds
General funds
22
22
2.557,237
617,823
2.5T3, 181
716,772
Total unrestricted funds
22
3,175,060
3,289,953
Total funds
4,595,065
4,976, 719
The charity's nel movement in funds for the year was £1381,6541 (2023 - £1,262,262).
The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by:
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Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
CHARITY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
&Jiybf
David Hughes
Trustee
Gwyndaf Evans
Trustee
Date.. October 31, 2025
The notes on pages 21 10 54 form part of these financial stalemenls.
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Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
1230,1731
34,634
Cash flows from Investlng actlvltles
Dividends, interests and rents from investments
Purchase of intangible assets
Purchase of tsngible fixed assets
23,292
17,8001
7,057
(29,950)
(750)
Net cash provided byllused in) investing activities
15,492
123.643)
Cash flows from financing activities
Repayments of borrowing
Interest paid
{46,4021
(77,339)
(53, 102)
Ngt Cash usod in financing activitiOS
{46,4021 {130,441)
Change in cash and cash equivalents in the year
Cash and cash equivalents al the beginning of the year
1261,0831
508,415
{119.450)
627,865
Cash and cash equivalents at tho end of tha ygar
247,332
508,415
The notes on pages 2110 54 form part of these financial ststemenls
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Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General information
Maharishi Foundation Ilhe "Charity'l is a charity registered in England and Wales 12701571 and in
Scotland ISC0419191. The registered Offi￿ is Maharishi pea￿ Palace, 6 Gardenia Close, Rendlesham,
Woodbridge, Suffolk, IP12 2GX.
Accounting policies
2.1 8asis of preparation of financial statements
The financial statements have been prepared in 8ccordance with the 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
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011, the Charities and
Trustee Investment (Scollandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006 {as
amended).
The financial statements have been prepared lo give 8 'true and fair, view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the exlenl required to provide a 'true
and fair view,. This departure has involved following 'Accounling and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021
(Second Edilionl, rather than the Accounting and Reporting by Charities= Statement of
Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Maharishi Foundation meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the
relevant 8ccounling policy.
The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet
consolidate the financial statements of the charity and ils subsidiary undertaking. The results of the
subsidiary are consolidated on a line by line basis.
Subsidiaries which have been excluded from the consolidation due lo being immaterial are=
Maharishi Limited (Dormant)
Maharishi Garden Village Limited
Page 21

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MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ounting policies Icontinugd)
2.2 Going concern
The financial slalements have been prepared on a going con￿rn basis. The Trustees have
onsidered the Charills financial position, forecasts, and cash flow projections for a period of al least
12 months from the date of approval of these financial statements.
During the COVID-19 pandemic, a smartphone App was introduced to support the delivery of
leaching when in-person courses were restricted. With the removal of restrictions, the Charills
facilities have resumed normal operations, and the App continues to enhan￿ regularity of practice
and engagement with follow-up programmes.
Although demand for TM remains below pre-COVID levels, the Trustees and management have
undertaken a comprehensive review of promotional strategy and a series of cost-cutling measures
designed to streamline the cost base and ensure value-for-money. The resulting efficiencies have
enabled the preparation of forward budgets and financial plans that demonstrate the Charills
continuing ability lo meet its liabilities as they fall due, lo operate sustainably, and to strengthen its
reserves position. The Trustees have also given detailed consideration lo the Trust's liabilities,
including commercial and other loans, and are satisfied that sufficient cash flow will be maintained to
meet payment terms.
Accordingly, the Trustees consider it appropriate that the financial statements continue lo be
prepared on a going concern basis.
2.3 Income
All income is recognised once the charity has entillemenl to the income, il is probable that the income
will be received and the amount of income re￿1vable can be measured reliably.
The recognition of income from legacies is dependent on establishing entidement, the probability of
receipt and the ability lo estimate with sufficient accuracy the amoLJnt receivable. Evidence of
entillemenl to a legacy exists when the charity has sufficient evidence that a gift has been left to them
(through knowledge of the existence of a valid wll and the death of the benefa¢lorl and the executor
is satisfied that the property in question will not be required lo satisfy claims in the estate. Re￿Ipt of
legacy must be recognised when it is probable that it will be received and the fair value of the
amount receivable, which will generally be the expected cash amount to be distributed to the charity,
can be reliably measured.
CoLJrse fees
Income from course fees for teaching the Transcendental Meditation and Tm-sidhi Programmes and
other courses is recognised by reference lo the course dale.
Incomin
resources
Other incoming reSoUr￿S such as voluntary incoming resources are accounted for as and when
entitlement arises, the amount can be reliably quantified and the economic benefit to the Charity is
considered probable.
Rental income
Income re￿iVed for rental of properties is allocated on a receivable basis.
Income tsx recoverable in relation to investment income is recognised at the lime the investment
income is receivable.
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MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ounting policies Icontinugd)
2.4 Expenditure
Expenditure is recognised On￿ there is a legal or constructive obligation lo transfer economic benefit
lo a third party, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each aclivily. Direct costs altribulable to a single activity are allocated direcuy
lo that activity. Shared costs which contribute lo more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of reSoU￿es. Central staff costs are allocated on the basis of lime spent, and depreciation
harges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the group to raise funds for its
haritable purposes and includes costs of all fundraising activities events and non-charitsble trading.
ExpenditLJre on charitable activities is incLJrred on directly undertaking the activities 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 grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject lo conditions which have not been met al the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when re￿1vable and the amount can be measured
reliably by the group,. this is normally upon notification of the interest paid or payable by the institution
with whom the funds are deposited.
2.6 Grants
The Trustees, policy is to award grants that support activities that are in accord with the objects of the
Charity and restrictions imposed by the donors of the funds.
2.7 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the Charity is potentially 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 Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively lo charitable purposes.
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MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ounting policies Icontinugd)
2.8 Intangible assets and amortisation
Intangible assets are capilalised and recognised when future economic benefits are probable, and
the wst or value of the asset can be measured reliably.
Intangible assets are initially recognised al cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any ac¢umulated impairment
losses.
Amortisation is provided on intangible assets at rates calculated lo write off the cost of each asset on
a slraight-line basis over ils expected useful life.
The estimated useful lives are as follows..
Website costs
3 years
2.9 Tangiblg fixed ?$sgt$ and dgprgciation
Tangible fixed assets are initially recognised at cost. After recognition, under the revaluation model,
tangible fixed assets whose fair value can be measured reliably shall be carried al a revalued
amount, being their fair value al the dale of revaluation less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.
Revaluations are made with sufficient regularity lo ensure that the carrying amount does not differ
materially from that which would be determined using fair value al the end of the reporting date.
Fair values are determined from market-based eviden￿ by appraisal that is normally Ljndertaken by
professionally qualified valuers. If there is no markel-based evidence of fair value because of the
specialised nature of the tangible fixed asset and it is rarely sold, ex￿pt as part of a ¢onlributing
business, a Charity may need lo estimate fair value using an income or depreciated repla￿ment cost
approach.
Gains and losses on revaluation are recognised in the Consolidated Statement of Financial Activities,
with a separate revaluation reserve being shown in the Statement of funds note.
Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual valLJe
over their estimated useful lives.
Depreciation is provided on the following bases:
Freehold property
Long-term leasehold property
Plant and machinery
50 years
Over the period of the lease
Between 20 /0 and 50'/o
Page 24

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ounting policies Icontinugd)
2.10 Investmonts
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured al fair value at the Balan￿ Sheet dale, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
investments, in the Consolidated Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.11 Debtors
Trade and other debtors are recognised at the selllement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.12 Cash at bank and in hand
Cash al bank and in hand includes cash and short-temi highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.13 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet dale as a result of a past
event, il is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it wll pay lo sellle the debt or the
amount it has received as advanced payTnents for the goods or servi￿$ it must provide.
Provisions are measured al the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts. discounted at the pre-tax discount rate that reflects the risks specific lo the liability. The
unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a
finan￿ cost.
2.14 Financial instruments
The group only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.15 Pensions
The group operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the group lo the fund in respect of the year. Amounts not paid are shown in
creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the
Group in independently administered funds.
Page 25

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MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ounting policies Icontinugd)
2.16 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the group and which have not been designated for other
purposes.
Designated funds Comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of ea¢h designated fund is sel out in the notes to the financial
statements.
The Trustees have a policy of donating a percentage of course fees to support the tradition from
which the teaching of Transcendental Meditation and its related techniques are derived.
Restricted funds are funds which are lo be used in accordance with specific restrictions imposed 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 reslricled
fund is sel out in the notes to the financial stalemenls.
Investment income, gains and losses are allocated to the appropriate fund.
2.17 Allocation of costs
Direct charitable costs are incurred in fulfilling the charitable objectives of the Charity.
Support costs of charitable activities include central management and administration costs, incurred
directly in support of expenditure on the objects of the Charity. These costs are considered part of
total expenditure relating to the objects of the Charity.
Governance costs include costs incurred in the governance of the Charity and its assets and are
primarily associated with conslitulional and statutory requirements.
Costs of generating funds include costs incurred in order to raise income lo support the activities of
the Charity and its subsidiary undertakings.
Page 26

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Critical accounting gstimatgs and areas of judgment
In the application of the accounting policies, Trustees are required to make judgements, eslimales, and
assumptions about the carrying value of assets and liabilities that are not readily apparent from other
sources. The estimates and underfying assumptions are based on historical experience and other factors
that are considered lo be relevant. Actual results may differ from these estimates.
The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period 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￿S of eslimalion un￿rtaintY that have a significant effect on the amounts recognised in the
financial statements are summarised below..
The Maharishi Peace Palace is included in the financial statements al original cost. An impairment review
has been undertaken comparing original cost lo value in use. Based on occupancy in 2019 a discounted
future cashflow model supports the cost value included in the financial statements and no impaimient is
deemed necessary.
Fixed assets, inclLJding property, are depreciated to net residual value. In most cases this is nil. In the
case of two properties that can or are used as residential properties, net residual value is considered to be
higher than cost and on this basis no depreciation is charged.
The investment in Ayurveda Limited has been reduced to £Nil in prior years as the subsidiary has now
discontinued in operational existence.
The investment by the Charity in Maharishi Education Centre Limited has been written down in value so
that il does not exceed the net assets of the subsidiary undertaking. The impairment credit in the year
amounting lo £20,57212023 - £Nill represents the profit for the year. The remaining impairment against
the investment largely represents previous losses and accumulated depreciation on the Maharishi Peace
Palace
Page 27

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and Iggacigs
Unrestricted
funds
2024
R9Stricted
funds
2024
Total
funds
2024
Donations
Legacies
166,151
12,500
194,872
361.023
12.500
178,651
194,872
373,523
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Donations
Legacies
177,955
57,947
301,176
61, 136
479, 131
119,083
235,902
362,312
598,214
Page 28

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charitsble activities
Unrestricted
funds
2024
R9Stricted
funds
2024
Total
funds
2024
Transcendental Meditation
Other courses
621,695
86,505
621.695
180.862
94,357
708,200
94,357
802,557
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Tfftnscendental Meditation
Other courses
887,015
70,413
887,015
23T,797
167,324
957.488
167,324
1, 124,812
Page 29

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from other trading activitlgs
Income from fundraising ovents
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Olhgr trading income from subsidiary undertakings
Consultstions and courses
Rental income and room hire
590,649
8,400
9,000
6,062
12,008
14,320
596.711
20.408
23,320
608,049
32,390
640.439
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Other trading income from subsidiary undertakings
Sale of Ayurveda products
Consultslions and courses
Rental income and room hire
413,356
123,590
9,092
f5,605
5,492
418,848
723,590
25,713
19,439
16,021
3,834
561,643
25,347
586,990
Investment income
Unrestrlcted Restrlcted
funds
funds
2024
2024
Total
funds
2024
Investment income on bank deposits
17,026
6,266
23.292
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Investment income on bank deposits
3,791
3,266
7,057
Page 30

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Other incoming resources
Total
funds
2024
Other operating income
Unrestricted
funds
2023
Total
funds
2023
Other operating income
20,000
20,000
During 2023 trade ceased in the subsidiary, Ayurveda Limited after receiving £20,000 for payment of the
goodwill.
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2024
2024
Total
2024
Direct costs- Charitable activities
1,125,343
586,291
1,711,634
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
Direct costs- Charitable activities
1,424,867
488,968
1.913,835
Page 31

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.
Analysis of gxpgnditure by activities
Activities
undertaken
directly
2024
Grant
funding of
aclivilies
2024
Support
o$ts
2024
Total
funds
2024
Direct costs - Charitable aclivi118S
630,068
333,813
747,753
1,711.634
Activities
undertaken
directly
2023
Grant
funding ol
activities
2023
Support
costs
2023
Total
funds
2023
Direct costs - Charitsble activities
959,053
202,357
752,425
1,913,835
Analysis of direct costs
Total
funds
2024
Activities
2024
Teachers remuneration
Course administration, promotion and advertising
400,665
229,403
400,665
229.403
630,068
630,068
Total
funds
2023
Activities
2023
Teachers remuneration
Course 8dministralion, promotion and advertising
559,328
399,725
559,328
399, 725
959,053
959,053
Page 32

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.
Analysis of gxpgnditure by activities Icontinugd)
Analysis of support costs
Total
fund$
2024
Activities
2024
Staff costs
Depreciation
Premises
Management
Finance and IT
Legal
413,413
41,033
87,959
62,086
108,258
35,004
413.413
41.033
87,959
62,086
108.258
35.004
747,753
747.753
Total
funds
2023
Activities
2023
Staff costs
388, 135
29,212
102,677
100,694
84,279
47,428
388, 135
29,212
102,677
100,694
84,279
41,428
Depreciation
Premises
Management
Finance and IT
Legal
752,425
752,425
11.
Summary of grants
Grants to
Individuals
2024
Total
funds
2024
Grants, Transcendental meditation
333,813
333.813
Page 33

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Summary of grants {¢ontinugdl
Grants lo
Individuals
2023
Total
funds
2023
Grants, Transcendental meditation
202,357
202,357
12.
Analysis of grants
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
National admin grants and sponsorship
General reslricled grant
TMHD progr8mme grants
Purusha programme
Vedic Pandils fund
50,556
4,000
50.556
4.000
138.438
36,375
104.444
138,438
36,375
104,444
54,556
279,257
333.813
Un￿Stricted
funds
2023
Restricted
funds
2023
Total
funds
2023
National admin grants and sponsorship
General reslricled grant
TMHD programme grants
Purusha programme
Vedic Pandits fund
30,171
74.193
30,171
74,193
20,4T5
16,519
60,999
20,475
16,519
60,999
104,364
97,993
202,357
Page 34

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
Auditor's rgmunfrration
2024
2023
Fees payable to the charills auditor for the audit of the charills annual
accounts
25,000
25,000
Fees payable to the charills auditor in respect of=
All non-audit services not included above
10,000
10,000
14. Staff costs
Group
2024
Group
2023
Charity
2024
Charity
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
389,994
14,955
373,629
7,645
227,748
6,947
238,643
6,658
8,464
6,861
4,588
2,046
413,413
388, 135
239,283
247,347
The average number of persons employed by the charity during the year was as follows=
Group
2024
Group
2023
Charity
2024
Charity
2023
General Fund (Full timel
MEC Limited (Full limel
General Fund (Part timel
Golden Dome (Part timel
Ayurveda Limited (Part limel
26
23
17
18
No employee received remuneration amounting to more than £60,000 in either year.
Total remuneration paid to key management personnel in the year amoLJnted to £62,000 12023
£62,000).
Page 35

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15.
Trustees. remuneration and oxpenses
During the year, no Trustees received any remuneration or other benefits (2023- £NIL).
During the year ended 31 De￿rnber 2024, no Trustee expenses have been incurred (2023- £NIL).
16.
Intangible assets
Group
Computer
softsvare
Cost
Al 1 January 2024
Additions
29.950
7.800
Al 31 December 2024
37,750
Amortisation
Al 1 January 2024
Charge for the year
4,442
12.583
Al 31 De￿mber 2024
17.025
Net book value
Al 31 December 2024
20.725
At 31 December 2023
25,508
Page 36

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
17.
Tangiblg fixed assots
Group
Freehold
property
Plant and
machinery
Total
Cost or valuation
Al 1 January 2024
Disposals
6.845,320
797,508
18,8611
7,642.828
{8,861)
Al 31 December 2024
6,845,320
788,647
7,633,967
Depreciation
Al 1 January 2024
Charge for the year
On disposals
704,881
123,418
694,669
26,733
18,8611
1,399.550
150.151
{8,861)
Al 31 December 2024
828,299
712,541
1,540,840
Net book value
Al 31 December 2024
6.017,021
76,106
6,093.127
At 3t December 2023
6, 140,439
702,839
6,243,218
Page 37

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
17.
Tangiblg fixed assots lconlinugd)
Charity
Long-term
leasehold
property
Freehold
property
Plant and
machinery
Total
Cost or valuation
Al 1 January 2024
Disposals
2,257.258
41,666
46,818
(8,8611
2,345.742
{8.861)
Al 31 De￿mber 2024
2,257.258
41,666
37,957
2,336.881
Depreclatlon
Al 1 January 2024
Charge for the year
On disposals
107,498
40.187
31,595
5,208
45,670
846
184,763
46,241
{8.861)
(8,8611
Al 31 De￿mber 2024
147.685
36,803
37,655
222.143
Net book value
Al 31 December 2024
2.109.573
4,863
302
2,114.738
At 31 Decemb&r 2023
2,149,760
10,071
1, 148
2,160,979
The Golden Dome was valued by Carter Jonas LLP at £1,380,000 on 6 April 2023, and Bournemouth
Peace pala￿ was valued at £425,000 in August 2024.
The group has adopted a policy of revaluation for tangible fixed assets. Had these assets been measured
al historic cost, the carrying values would have been as follows=
Group
2024
Group
2023
Charity
2024
Charity
2023
F￿ehOld property
4.679,510
4, 177, 799
772,061
197,191
Page 38

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18.
Fixed asset invgstmgnts
Investments
in subsidiary
Unlisted
companies investments
Total
Group
Cost or valuatlon
Al 1 January 2024
291
10,000
10,291
Al 31 December 2024
291
10,000
10,291
Net book value
Al 31 December 2024
291
10,000
10,291
At 31 December 2023
291
10,000
10,291
Investments
in subsidiary
Unlisted
companies investments
Total
Charity
Cost
Al 1 January 2024
2,097,968
10,000
2,107,968
Al 31 December 2024
2,097.968
10,000
2.107,968
Impairment
Al 1 January 2024
Reversal of impairments
1,518.170
120,5721
1.518.170
120,572)
Al 31 December 2024
1,497.598
1,497,598
Net book value
Al 31 December 2024
600,370
10,000
610,370
At 31 De￿rnber 2023
579, 798
10,000
589, 798
Page 39

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18.
Fixed asset invgstmgnts Iconlinugdl
Principal subsidiaries
The following were subsidiary undertakings of the charity..
Name$
Company
number
Included in
consolidation
Ayuverda Limited
Maharishi Education Centre Limited
Maharishi Garden Village Limited
Maharishi Limited
02167993
03362427
05322967
5121468
Yes
Yes
No
No
The financial results of the subsidiaries for the year were..
Names
ILoss)IProfit
for tho year
Net
Iliabilitiesl I
assets
Ayuverda Limited
Maharishi Education Centre Limited
Maharishi Garden Village Limited
Maharishi Limited
{1,9261
18,145
1185,007)
600,079
15,830
100
19.
Debtors
Group
2024
Group
2023
Charity
2024
Charity
2023
Due after more than one year
Amounts owed by group undertakings
Other debtors
689,619
25,000
721,463
25,000
25,000
25,000
25,000
25,000
714,619
746,463
Page 40

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
19.
D&blors Icontinuedl
Group
2024
Group
2023
Charity
2024
Charity
2023
Due within one year
Tffide debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Tax recoverable
41,401
51,976
28,333
1,841,713
31,208
33,530
1.841,520
31,250
51,208
761
51,250
764
2,330
6,394
2,330
6,394
95,700
110,384
1,903,584
1.918,694
20.
Creditors: Amounts falling due within one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Bank loans
Other loans
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income
42,869
16,430
187,620
40,441
29,325
242.968
7,887
16,430
67,940
792
7,000
18,328
97,777
3,345
3,101
63,907
37,414
11,011
188,461
71,913
14,767
143,811
69,334
2,623
113,671
35,000
518,304
540,640
244,343
230,266
21.
Creditors: Amounts falling due after more than one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Bank loans
158,116
1,394,442
11,258
170,836
1,398, 189
17,149
130,394
575,245
137, 173
539,695
Other loans
Accruals and deferree income
1.563,816
1,586, 174
705,639
676,868
The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the
reporting date is..
Page 41

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Group
2024
Group
2023
Payable or repayable by instalments
9,901
9,901
Group bank loans are secured by a legal charge over land and buildings, included in the Group loans is an
amount of £157,01512023'. £150,254) which is secured by a legal charge over land and buildings.
Page 42

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
22.
Statgment of funds - Group
Statement of funds - current yoar
Balance at 31
December
2024
Balance at 1
January 2024
Tran$fer$
inlout
Income Expenditure
Unrestrlcted funds
Dg$ignat8d funds
Maharishi Peace Palace
ISuffolk}
General grants fund
3,030.964
25.227
16,528
3,868
1304)
(4,194)
3,047.188
24,901
3,056.191
20,396
14.498)
3,072.089
General funds
General Funds
Revlaualion reseNe
{1,320,2691
1.373,370
1,491.530 {1.635,0291
8,359
11,455,409)
1,373.370
53,101
1,491,530 {1,635,0291
8,359
182,039)
Total Unrestrlcted funds
3,109,292
1.511.926 {1,639,5271
8.359
2,990.050
Page 43

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
22.
Statgment of funds Icontinugd)
Balance at
31
December
2024
Balance at I
January
2024
Transfers
inlout
Income Expenditure
Restrlcted funds
Golden Dome fund
Vedic Pandits fund
268,149
249,174
185,395
138,030
417,369
51.654
190.271
1,400
3,541
25
1660}
182,422
181,013
71.787
42,856
15,314
1,959
1.013
12,149
545
(239,285)
(122.997)
136.961)
(162,307)
{6,595)
{16,2321
193.645
197.964
191.290
Purusha fund
THMD
National Coheren
Lesley Woolley legacy
Boumemoulh TM Centre
Invincibility Schools fund
Ladies Peace Palace
Woollacombe fund
Global Mother Divine
8,963
412.733
52.667
188.765
1,695
113.655)
1250)
1188)
{25)
{1.606)
{2,422)
13,3541
2,264
Oxford
1,246
181,246
1.686,770
327.885
(586,291)
18,3591
1,420.005
Total of funds
4,796.062
1.839,811
12,225.818)
4,410.055
Page 44

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
22.
Statgment of funds Icontinugd)
Statement of funds - prior ygar
Balance al
1 January
2023
Balance al
Transfe
Gainsl 31 December
in/out (Losses)
2023
Income Expenditure
Unrestrlcted
funds
Designatod
funds
Maharishi Peace
Palace (Suffolkl
General grants
fund
2,977.362
59,629
(6.027)
3,030,964
76,865
(44,444)
(7, 194)
25,227
2,97T,362
136,494
{50,4T7J
(7, 194)
3,056, 791
General funds
General Funds
Revaluation
reserve
(989,686)
1,642,330 (1,971,384)
(1,529)
(1,320,269)
1,373,370
1,373,370
(989.686)
t.642,330 (1,97t,384)
(1,529) 1,373,370
53,101
Total
Unrestri¢tgd
funds
1,987,676
t.778,824
(2,021.855)
(8, 723) 1,373,370
3. 109,292
Page 45

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
22.
Statgment of funds Icontinugd)
Balance al
31
December
2023
Balance at
1 January
2023
Transfers
in/out
G8ins/
(Losses)
Income Expenditure
Restrlcted funds
General restricted
fund
Golden Dome
fund
28,565
(28,565)
242, 721
324, 140
(298, 712)
268, 749
Vedic Pandits
fund
Purusha fund
210,046
149,931
132,441
11f,237
48,226
56,516
(77,603J
(17, 157)
(50,927)
5,494
4,395
249, 174
185,395
138,030
THMD
National
Coherence
Lesley Woolley
legacy
Bournemouth TM
Centre
422, 775
1,495
(6,907)
417,369
51,006
648
51,654
186,681
12,813
(8.057)
(1, 166)
190,271
Schools fund
942
696
(238)
1,400
Ladies Peace
Palace
3,594
(60)
3,547
Woollacombe
fund
Global Mother
Divine
25
25
fl,915)
187,954
1,887
584
(632)
(116)
(660)
182,422
Oxford
1,608, 766
558,249
(488,968J
8, 723
1,686, 770
Total of funds
3,596.442
2,337.073 (2,510,823)
1,373,370
4,796,062
Page 46

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ststement of funds- Charity
Statsment of funds- current year
Balance at
1 January
2024
Balance at
Gain￿ 31 December
{Los8es)
2024
Transfer5
inlout
Income Expenditure
Unrestrldad fund$
Designatsd funds
Maharishi Peace
palace {Sufft￿k}
General grants fund
2,547,964
25,217
44,686
3,868
{60,3041
(4,1941
2,532,346
24.891
2,573,181
48,554
{64,4981
2,557,237
General funds
General funds
{656,5981
1,373,370
815,943
{923,2511
8.359
1755,5471
1,373,370
Revaluation reserne
Unreslridad fund$
3,289,953
864,497
{987,7491
8,359
3, 175,060
Page 47

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Statgment of funds - Charity Icontinuod)
Balance at
1 January
2024
Balance at
Galnsl 31 December
ILosses}
2024
Transfers
inlout
Income Expenditure
Restricted funds
Golden Dome fund
268,149
181,013
1239,2851
1122,9971
136,9611
1162,3071
16,5951
116,2321
193,645
Vedic Pandils fund
249.174
185,392
138,030
417.368
71,787
42,859
15,314
1,960
197,964
191,290
Purusha fvjnd
THMD
8,963
National Coherence
Lesley Woolley
Legacy
Boumemoulh TM
Centre
Inmncibility Schools
ftjnd
412,733
51,654
1,013
52,667
190,271
12,149
113,6551
188,765
1.400
3,541
25
545
12501
11881
25
1,695
Ladies Peace Palace
13,3541
W(K)lacombe fund
Global Mother Diiine
16601
182.422
11,6061
12.4221
2,264
Oxf()rd
1,246
181,246
Restricted fvnds
1,686,766
327,889
1586,2911
18,3591
1,420,005
Total of funds
4,976,719 1,192,386 {1,574,040)
4595,065
Page 48

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
23.
Dfrscription of funds
a) Unr0Strictod funds
il General Fund
The General Fund includes all of the unreslricled funds of the Charity. These include the National Offices
in Skelmersdale 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 publication °Trans￿ndental Meditation News magazine.
b) Restricted funds
il Golden Dome Fund
A special fund, 'The Golden Dome Fund, was established in February 1983 to finan￿ a project lo build a
Golden Dome that would accommodate a group of 800 praclilioners of the TranS￿ndental Meditation and
Tm-sidhi Programme. This number is the square root of one per cent of the population of Great Britain -
the number required to produ￿ the Maharishi Effert.
This facility, Golden Dome in Skelmersdale, is used, for educational courses and group practi￿ of
TranS￿ndental Meditation and the Tm-sidhi Programme by local residents and visitors to the facility.
ill Vedic Pandits Fund
This fund was established in 2001 to support the setting up and rna1ntenan￿ of groups of Maharishi Vedi
Pandits from India. The purpose of these groups is to practice drfferent aspects of Maharishi's Vedic
scien￿ in order lo develop higher states of consciousness and spread an influence of peace and
harmony throughout the worfd.
iiil Purusha and THMD
The PLJrusha and THMD restricted funds were set up to promote courses lo develop the mental and
creative potential of the individual. The Purusha fund SLJPPOrts courses for men and the THMD fund
supports courses for ladies.
iv) National Coherence Project
This is a restricted fund set up with the aim of raising funds lo support a permanent group of people
praclicing the Transcendental Meditation and Tm-sidhi Programme to create coherence in national
consciousness through the Maharishi Effect.
vl Lesley Woolley Legacy
The Charity was left a legacy by Lesley Woolley, who died in August 2001. The Trustees want to honour
the wishes of Lesley Woolley as closely as possible and are currently developing new projects where her
legacy can be applied in a manner that will fulfil her intentions as expressed in her Will.
vil Bournemouth TM Centre
In 2010 a property was PLJrchased in Boumemoulh to be used for a TranS￿ndental Meditation Teaching
Centre. The purchase pri￿ was largely funded from a grant.
vil} Maharishi Invincibility Schools Fund
The Maharishi Invincibility Schools Fund, funds the promotion and introduction of Consciousness-Based
Education ICBEI in existing schools and colleges, including costs of faculty training and provision of CBE
courses and study facilities for students and teachers. The fund will also be used lo fund the development
of new schools and colleges built according to the principles of Maharishi Sthapatya Veda, to provide
scholarships lo assist students and teachers lo learn Transcendental Meditation and related Advanced
Techniques, and lo provide scholarships to students who may reqLJire help to pay luilion fees and other
school or college fees in the context of CBE.
Page 49

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Restricted funds {continugdl
viiil Ladies Peace Palace Fund
The Fund was set up lo raise funds to establish an educational facility for ladies lo be known as a Ladies
Peace Palace, with similar objectives to the facility being developed in Suffolk.
ixl Global Mother Divine Organisation
The Global Mother Divine Organisation {GMDOI is as a separate division of Maharishi Foundation which
serves and nourishes the ladies and girls of the UK and the world through Total Knowledge. The GMDO
division of Maharishi Foundation indudes five educational departments- see page 3.
xl Oxford
The Oxford fund is a special fund set up for a Transcendental Meditation centre for Oxford to be
established. The aim is for any building acquired for teaching purposes to be named after the donor's
mother Edith Saunders who passed away in the mid 1990s.
24.
Summary of funds
Summary of funds - current ygar
Balan¢9 at
31
December
2024
Balan¢9 at 1
January
2024
Transfers
inlout
Income Expenditure
Designated funds
General funds
3,056.191
53,101
1,686,770
20,396
1,491,530
327,885
{4.498)
11,635,029)
(586,291)
3,072.089
182,039)
1,420,005
8,359
18,3591
Restricted funds
4,796.062
1.839,811
12,225.818)
4,410.055
Sumrnary of funds- prioryear
B21ance al
37
December
2023
Balance at
l January
2023
Transfers
in/oul
Gainsl
(Losses)
Income
Expenditure
Designated
funds
2,977,362
{989,686)
1,608,766
136,494
(50,471)
t,642,330 (1.97f,384)
558,249
(488,968)
(7, 194)
(1,529)
8, 723
3,056, 191
53,101
1.686,7TO
General funds
1,373,370
Restricted funds
3,596,442
2,33T,073 (2,510,823)
1,3T3,370
4, 796,062
Page 50

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
25.
Analysis of not assets bgtwggn funds
Analysis of ngt assgts betweon funds - current period
Unrestricted
funds
2024
Rgstricted
funds
2024
Total
funds
2024
Tangible fixed assets
Intangible fixed ass&ls
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
5,684,380
20,725
291
408,747
6,093.127
20.725
10.291
25,000
343,032
{518.304)
11,563.816)
10,000
25,000
976,258
1633,2261
1518,3041
11,563,816)
Total
2,990,050
1,420,005
4,410.055
Analysls of net assets between funds - prlor perlod
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
5,838.803
25,508
291
404,475
6,243,278
25,508
10,291
25,000
618,799
(540,640)
(1,586, 114)
10,000
25,000
1.247,295
(628.496)
(540,640)
(t,586, f [4)
Total
3, 109,292
1,686, T70
4, 796,062
Page 51

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
26.
Rfrcon¢ilialion of not movomont in funds to net Cash flow from operating activiti&$
Group
2024
Group
2023
Net expenditure for the period {as per Statement of Financial Activities)
1386,0071
(173, 750)
Adjustments for:
Depreciation charges
Amortisalion charges
Dividends, interests and rents from investments
Decrease in stocks
Decreasellincreasel in debtors
(Decreaselllncrease in creditors
Interest paid
150,151
12,583
{23,2921
146,432
4,442
(7,057)
16,347
{48,699)
43,823
53,102
788
(45,4511
61,055
Net cash Iusgd inllprovidgd by opgrating adivities
1230,1731
34,634
27. Analysls of cash and cash equlvalents
Group
2024
Group
2023
Bank and cash
247,332
508,415
Totsl cash and cash equivalents
247,332
508,415
28. Analysls of changes In net debt
At1
January
2024 Cash flows
At31
December
2024
Cash al bank and in hand
Debt due within 1 year
Debt due after 1 year
508,415
169.766)
11,569,025)
1261,0831
10,467
16,467
247.332
159.299)
11,552.558)
11.130,376)
1234,1491 11,364,525)
Page 52

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
29.
Pgnsion commitmont$
The group operates a defined contribution pension scheme. The assets of the scheme are held separately
from those of the group in an independently administered fund. The pension cost charge represents
contributions payable by the group lo the fund and amounted to £8,46412023 - £6,861) No amounts were
outstanding lo the scheme al either 31 De￿mber 2024 or 2023.
Page 53

Do(xJsign Envelope ID." C2568F7t>7E13423D-AOO&A3C3DF09A530
MAHARISHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
30. Related party transactions
By virtue of al least common Trustee and ￿rtain related objects and activities, Maharishi Foundation is
connected lo the following parties..
al Spiritual Regeneration Movement of Great Britain
SRM made a loan of £155,000 to Maharishi Foundation in 2010 in order to help il 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 loan carries a first charge over the property and accrues interest
of 3/0 above bank base rate. The loan is a long-term loan and the loan plus accrued interest is not
repayable until the property is sold or until the Trustees of Maharishi Foundation decide lo make
repayment at their discretion. Interest accrued in 2024 was £18,78712023 - £16,946}.
bl David Lynch Foundation UK
In 2024 Maharishi Foundation paid £Nil 12023 - £7001 to David Lynch Foundation UK to support its
promotional activities that resulted in many people taking courses offered by Maharishi Foundation. A
grant of £Nil 12023 - £23,050) was awarded lo David Lynch Foundation. No amounts were due to David
Lynch Foundation at 31 De￿mber 202412023 - £Nil}.
cl Invincible Scotland Trust
In 2024 Maharishi Foundation paid standard commission on leaching fees of £25,077. to Invincible
Scouand Trust {2023 - £30,754). No amounts were due lo Invincible Scotland Trust at 31 December
202412023 - £Nill.
dl Peace Palace Membership
A number of the Trustees are members of the Pea￿ Pala￿. Memberships have been purchased on
normal commercial terms.
el Stitching Maharishi
P Warburton has confinned he is a member with some degree of management over 3 Stitching
Maharishi Organisations. A total of £46,05212023 - £31,854) was paid to these organisations in the year.
No amounts were due to Stitching Maharishi al 31 De￿rnber 202412023 - £Nill.
fl Close Family remuneration
During the year an amount of £1,90012023 - £12,360) was paid as remuneration to L Warburton (wife of
P Warburtonl. In addition amounts were paid of £12,458 12023 £Nill to Dr Warburton lo fund his
teaching work.
The Charity has taken advantage of the exemption available in paragraph 33.1A of FRS 102 and has not
disclosed transactions entered into between wholly owned group entities that have been eliminated on
consolidation.
Page 54