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2020-12-31-accounts

Company number 1210435

SUBUD PUBLICATIONS INTERNATIONAL

ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

SUBUD PUBLICATIONS INTERNATIONAL

DIRECTORS' AND TRUSTEE'S ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The Directors present their annual report with the accounts of the company for the year ended 31 December 2020.

REFERENCE AND ADMINISTRATIVE DETAILS

Subud Publications International is also known as SPI. Charity registration number 270159

Company registration number 1210435, registered in England and Wales. Registered office: 47 Waverley Road, St Albans, Herts AL3 5PH

TRUSTEES

The Trustees in office during the year were: Robin Drewett Valerie Drewett George Helmer Reinier Sillem Stewart Horthy Mustafa van Hien

All Trustees are members of the Council of Management and are also directors of the company.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a company limited by guarantee and registered as a charity. The governing document of the charity is the Memorandum and Articles of Association.

OBJECTIVES AND ACTIVITIES

SPI has the responsibility to write, make, commission, print, publish, circulate or distribute written materials or other materials recorded in or on any format explaining, clarifying or promulgating to the public at large and to Subud members the aims, principles and ideals of Subud or relating to Subud members or the organisation and administration of Subud.

Subud is that body of people in all parts of the world who meet together to take part in the worship of Almighty God through the Latihan Kejiwaan of Subud. Subud is open to all people of any faith or of no particular faith.

When planning our activities for the year the Trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular we provide books and other publications in a variety of formats on or about Subud to encourage and facilitate the practice of Subud by existing Subud members and to provide information on Subud to the public.

In pursuance of this, we have established a website to provide information to the general public: www.subudbooks.com for publications about Subud by Subud members.

The general public can download a number of titles about Subud from the website, free of charge.

SPI is coordinating the translation and publication of the Complete Recorded Talks of Bapak Muhammad Subuh in English/Indonesian and also Russian/Indonesian.

Twenty Subud members worldwide are working on this important project - 8 who receive some payment for translations/editing and 12 volunteers.

Due to lack of funding we are no longer responsible for providing translations or editions in any other languages.

A quarterly Balance Sheet and Profit & Loss account is provided to Board members - to review the progress of activities and company finances. Board meetings are held once or twice a year. There is also an Annual General Meeting.

Page 1

SUBUD PUBLICATIONS INTERNATIONAL DIRECTORS, AND TRUSTEE'S ANNUAL AepoRT FOA THE YEAR ENDED 310ECEM8ER 2020 ACHIEVEMENTS AND PERFORMANCE Ourino 2020 we made good overall proGre5s and produced translations of the following editions of The Complete R8Gorded Talks of B8P8k Muhammad Subuh.. The translations for Volume 36 were complet8d, and this edition was published in November 2020. The translations and e(liting for Volurne 37 were also commenced for publication during 2021. Other publications.. During 2020 we also funded the pre-press activity forThe Complete Re¢ord8d Talks of Bapak Muhammad Subuh Volume$ 30 and Volumè 31 in Indonèsian l Russlan- to bfj published in 2021. W8 also published Volume 29 in IndonesianEpanish. November 2020. FINANCIAL REVIEW Policy on reserves The trustaes have reviewed the ¢harity'5 need$ forfree reserves in line with guidance issued by the Charity Commission. Reserves ar8 required to smooth fluctuations in in¢ome and expendituts, to ansure that rtr$our¢8s are available to rneet commitments. The board Considers that a prudent level of reserves is the equivalent of between 3 and 6 month¥ exptnditure. Tht18vel of re¥erwes is monitored and r8vlewed by trustaes at board me¢ting$. During 2020 w8 re¢eivad funding from the Guerrand-Hermes ￿￿ndatIOn for Peace, and the World Subu¢J Association plus contributions from individuals. We ère able to advise that that wt have sa¢ur&d funding to finance the project for the nexi 12 rnonths. Th6 above report ha5 been prepared in a£cordèn¢e with the special provisions relating to smyll Gompanies within Part 15 of the Cotnpani88 Act 2W6. Signed on beholf of the Council of Management L8on8rd Hurd, Secrtrtary Approved by thg Councll of Mana9ement'. Date 14 September 2021 Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

SUBUD PUBLICATIONS INTERNATIONAL

I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2020.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act,

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention

in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Elwyn Waugh BSc, FCA Waugh & Co Chartered Accountants

51 High Street, Arundel, West Sussex BN18 9AJ Date 14 September 2021

Page 3

SUBUD PUBLICATIONS INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

Note
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income
Investment income
Incoming resources from charitable activities
Total incoming resources
2
RESOURCES EXPENDED
Charitable activities
3
Governance costs
4
Total resources expended
Net incoming resources before transfers
Gross transfers between funds
NET INCOME (EXPENDITURE) FOR THE YEAR
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
0
0
8,700
8,700
8,947
230
9,177
-477
0
-477
5,184
£4,707		 Restricted
Funds
13
395
76,222
76,630
43,946
688
44,634
31,996
0
31,996
164,662
£196,658		 Total Funds
2020
13
395
84,922
85,330
52,893
918
53,811
31,519
0
31,519
169,846
£201,365		 Total Funds
2019
1,041
173
67,124
68,338
55,816
1,091
56,907
11,431
0
11,431
158,415
£169,846

Page 4

2019 Ton￿ble StodT 31.791 C•th •t ￿n￿and Ih 18533 196M1 tywy••r 21U57 187M8 21l7J4 188xa 10 -17￿? £201301 £11 104.862 b.184 Unr••r4 inDJm• fund• 104 t2 £1 tlno toth)aM rArrwftl8 Th• mwnb•rnlwn Mrtrwwlrqdth• L¥)mp•ny obtjln an In acw¥dBno•wlth 476 ofth• ¢￿p•nI￿All Act vAth r*)èotto aoroiintlw th• pr•paraitrJn ol t￿¢0￿￿ •ubJ•Lttoth• Thll r•3kn0 •ThJ kn •￿IdIn￿Tth FRS102 SOAP. stgo&lon bthll¢l Ih• Coundl of M•n•g•mont InloiSlll•n Dlrn¢iov P•q•5

SUBUD PUBLICATIONS INTERNATIONAL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. PRINCIPAL ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's accounts:

1.1 Accounting conventions

The accounts have been prepared in accordance with:

(a) Accounting and Reporting by Charities: the Statement of Recommended Practice

and the Financial Reporting Standard for Smaller Entities.

1.2 Turnover

Turnover represents the total amount receivable by the company in the ordinary course of business for goods supplied and services provided excluding value added tax.

1.3 Depreciation of tangible assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Office equipment: 25% of reducing balance

1.4 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

2. INCOMING RESOURCES

INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income
Donations
Investment income
Interest
Incoming resources from charitable activities
Turnover
Guerrand-Hermes Foundation for Peace grant
World Subud Association grant
Total Incoming Resources		 Unrestricted
Funds
0
0
8,700
0
0
8,700
8,700		 Restricted
Funds
13
395
0
39,063
37,159
76,222
76,630		 Total Funds
Total Funds
2020
2019
13
1,041
395
173
8,700
12,468
39,063
39,074
37,159
15,582
84,922
67,124
85,330
68,338
67,124
68,338

Turnover represents the sales of Bapak's Talks Volumes and other Subud titles throughout the world.

Page 6

SUBUD PUBLICATIONS INTERNATIONAL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. RESOURCES EXPENDED - CHARITABLE ACTIVITIES

Unrestricted
Sale of
titles
Activities undertaken directly
Cost of sales
Opening stock
31,791
Purchases
5,853
Postage and packing
2,304
Less closing stock
-33,792
Total cost of sales
6,156
Translations and editing
0
Rent and rates
967
Salaries
750
Insurance
371
Office supplies and postage
76
Advertising and promotion
0
Establish bookshop World / UK Congress
0
Telephone
179
Bank charges
248
Credit card charges
0
Web expenses
0
Sundry expenses
190
Depreciation on equipment
10
£8,947
4.
RESOURCES EXPENDED - GOVERNANCE COSTS
AGM / Board meetings
0
Sundry expenses
0
Accountancy fees
230
£230
5.
EMPLOYEE INFORMATION
Salary
National Insurance
Number of employees		 Restricted
Bapak's Talks
Project
0
0
0
0
0
11,527
2,900
26,250
1,111
228
0
0
535
743
0
0
568
84
£43,946
0
0
688
£688		 Total Funds
2020
31,791
5,853
2,304
-33,792
6,156
11,527
3,867
27,000
1,482
304
0
0
714
991
0
0
758
94
£52,893
0
0
918
£918
2020
24,996
0
£24,996
1		 Total Funds
2019
31,169
6,948
3,761
-31,791
10,087
14,491
1,935
24,996
1,420
155
152
342
622
1,046
0
275
169
126
£55,816
179
0
912
£1,091
2019
24,996
0
£24,996
1

Page 7

SUBUD PUBLICATIONS INTERNATIONAL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

6. TANGIBLE FIXED ASSETS

Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
7.
STOCKS
Publications, DVDs, Audio CDs
8.
DEBTORS
Trade debtors
Other debtors
9.
CREDITORS: amounts falling due within one year
Trade creditors
Other creditors
10.
CREDITORS: amounts falling due after more than one year
Bapak's Talks subscription prepayment scheme		 Office equipment
9,506
0
9,506
9,129
94
9,223
£283
£377
2020
2019
£33,792
£31,791
719
272
250
250
£969
£522
2,785
4,491
2,894
3,064
£5,679
£7,555
17,533
18,457
£17,533
£18,457		 Office equipment
9,506
0
9,506
9,129
94
9,223
£283
£377
2020
2019
£33,792
£31,791
719
272
250
250
£969
£522
2,785
4,491
2,894
3,064
£5,679
£7,555
17,533
18,457
£17,533
£18,457
9,506
9,129
94
9,223
£283
£377
2019
£31,791
272
250
£522
4,491
3,064
£7,555
18,457
£18,457

Bapak's Talks subscription prepayment scheme relates to advance sale receipts for the future supply of Bapak's Talks Volumes when they are produced. The supply of the Volumes during the year have been reflected in the sales figure and set off against this account.

Page 8

SUBUD PUBLICATIONS INTERNATIONAL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

11. RESTRICTED INCOME FUNDS

Bapak's Talks Project Funds
brought
forward
164,662
£164,662		 Incoming
resources
76,630
£76,630		 Outgoing
resources
-44,634
-£44,634		 Transfers
between
funds
0
£0		 Funds
carried
forward
196,658
£196,658

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted funds
Bapak's Talks Project		 Tangible
Fixed assets
32
251
£283		 Net
current
assets
4,675
213,940
£218,615		 Creditors
due after
one year
0
-17,533
-£17,533		 Total
4,707
196,658
£201,365

Page 9