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2021-12-31-accounts

Company number 1210435

SUBUD PUBLICATIONS INTERNATIONAL

ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

SUBUD PUBLICATIONS INTERNATIONAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

INDEX
Page
Trustees Annual Report 1
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 7

SUBUD PUBLICATIONS INTERNATIONAL

DIRECTORS' AND TRUSTEE'S ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The Directors present their annual report with the accounts of the company for the year ended 31 December 2021.

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.

Thirteen Subud members worldwide are working on this important project - 6 who receive some payment for translations/editing and 7 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 REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

ACHIEVEMENTS AND PERFORMANCE

During 2021 we made good overall progress and produced translations of the following editions

of The Complete Recorded Talks of Bapak Muhammad Subuh:

The translations for Volume 37 were completed, and this edition was published in March 2021.

The translations and editing for Volume 38 were also commenced for publication during 2022.

Other publications during 2021:

Funding was provided in the previous year for the publication of the Complete Recorded Talks of Bapak Muhammad Subuh Volumes 31 and Volume 32 in Indonesian / Russian. However, due to delays, the anticipated publication did not take place in 2021.

The translations for Volume 30 in Indonesian/Spanish, were completed in 2021, for publication in February 2022.

FINANCIAL REVIEW

Policy on reserves

The trustees have reviewed the charity's needs for free reserves in line with guidance issued by the Charity Commission. Reserves are required to smooth fluctuations in income and expenditure, to ensure that

resources are available to meet commitments. The board considers that a prudent level of reserves is the equivalent of between 3 and 6 months expenditure. The level of reserves is monitored and reviewed

by trustees at board meetings.

Fundraising

During 2021 we received funding from the Guerrand-Hermes Foundation for Peace, and the World Subud Association plus contributions from individuals.

We are able to advise that that we have secured funding to finance the project for the next 12 months.

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Signed on behalf of the Council of Management

Leonard Hurd, Secretary

Approved by the Council of Management: Date 14 September 2022

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 2021.

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 2022

Page 3

SUBUD PUBLICATIONS INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

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
7,741
7,741
8,588
231
8,819
-1,078
0
-1,078
4,719
£3,641		 Restricted
Funds
214
13
58,022
58,249
43,680
693
44,373
13,876
0
13,876
196,658
£210,534		 Total Funds
2021
214
13
65,763
65,990
52,268
924
53,192
12,798
0
12,798
201,377
£214,175		 Total Funds
2020
13
395
84,934
85,342
52,893
918
53,811
31,531
0
31,531
169,846
£201,377

Page 4

SUBUD PUBLICATIONS INTERNATIONAL

BALANCE SHEET AS AT 31 DECEMBER 2021

Note
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Stocks
7
Debtors
8
Cash at bank and in hand
CREDITORS: amounts falling due
within one year
9
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS: amounts falling due
after more than one year
10
NET ASSETS
THE FUNDS OF THE CHARITY
Restricted income funds
11
Unrestricted income funds
TOTAL CHARITY FUNDS
12		 2021
212
32,650
20,697
182,827
236,174
-5,602
230,572
230,784
-16,609
£214,175
210,534
3,641
£214,175		 2020
283
33,792
981
189,533
224,306
-5,679
218,627
218,910
-17,533
£201,377
196,658
4,719
£201,377

The company was entitled to exemption from audit under d477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Signed on behalf of

the Council of Management

Reinier Sillem Director

Approved by the Council of Management: Date 14 September 2022

Page 5

SUBUD PUBLICATIONS INTERNATIONAL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

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
7,741
0
0
7,741
7,741		 Restricted
Funds
214
13
0
38,000
20,022
58,022
58,249		 Total Funds
Total Funds
2021
2020
214
13
13
395
7,741
8,712
38,000
39,063
20,022
37,159
65,763
84,934
65,990
85,342
84,934
85,342

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 2021

3. RESOURCES EXPENDED - CHARITABLE ACTIVITIES

Unrestricted
Sale of
titles
Activities undertaken directly
Cost of sales
Opening stock
33,792
Purchases
2,021
Postage and packing
3,115
Less closing stock
-32,650
Total cost of sales
6,278
Translations and editing
0
Rent and rates
522
Salaries
750
Insurance
299
Office supplies and postage
105
Advertising and promotion
0
Establish bookshop World / UK Congress
0
Telephone
201
Bank charges
171
Credit card charges
0
Web expenses
80
Sundry expenses
174
Depreciation on equipment
8
£8,588
4.
RESOURCES EXPENDED - GOVERNANCE COSTS
AGM / Board meetings
0
Sundry expenses
0
Accountancy fees
231
£231
5.
EMPLOYEE INFORMATION
Salary
National Insurance
Number of employees		 Restricted
Bapak's Talks
Project
0
0
0
0
0
12,715
1,565
26,250
897
316
0
0
602
513
0
238
521
63
£43,680
0
0
693
£693		 Total Funds
2021
33,792
2,021
3,115
-32,650
6,278
12,715
2,087
27,000
1,196
421
0
0
803
684
0
318
695
71
£52,268
0
0
924
£924
2021
27,000
0
£27,000
1		 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
27,000
0
£27,000
1

Page 7

SUBUD PUBLICATIONS INTERNATIONAL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

6. TANGIBLE FIXED ASSETS

Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020
7.
STOCKS
Publications, DVDs, Audio CDs
8.
DEBTORS
Trade 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
Other debtors (WSA 2021 Grant)		 Office equipment
9,506
0
9,506
9,223
71
9,294
£212
£283
2021
2010
£32,650
£33,792
425
731
20,272
250
£20,697
£981
2,887
2,785
2,715
2,894
£5,602
£5,679
16,609
17,533
£16,609
£17,533		 Office equipment
9,506
0
9,506
9,223
71
9,294
£212
£283
2021
2010
£32,650
£33,792
425
731
20,272
250
£20,697
£981
2,887
2,785
2,715
2,894
£5,602
£5,679
16,609
17,533
£16,609
£17,533
9,506
9,223
71
9,294
£212
£283
2010
£33,792
731
250
£981
2,785
2,894
£5,679
17,533
£17,533

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 2021

11. RESTRICTED INCOME FUNDS

Bapak's Talks Project Funds
brought
forward
196,658
£196,658		 Incoming
resources
58,249
£58,249		 Outgoing
resources
-44,373
-£44,373		 Transfers
between
funds
0
£0		 Funds
carried
forward
210,534
£210,534

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted funds
Bapak's Talks Project		 Tangible
Fixed assets
24
188
£212		 Net
current
assets
3,617
226,955
£230,572		 Creditors
due after
one year
0
-16,609
-£16,609		 Total
3,641
210,534
£214,175

Page 9