Company number 1210435
SUBUD PUBLICATIONS INTERNATIONAL
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
SUBUD PUBLICATIONS INTERNATIONAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 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
DIRECTO DIRECTO RS' AND TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Directors present their annual report with the accounts of the company for the year ended 31 December 2022.
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.
Fifteen Subud members worldwide are working on this important project - 8 who receive some payment for translations and editing.
Due to lack of funding we are no longer responsible for providing translations or editions in any other languages.
A regular 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 2022
ACHIEVEMENTS AND PERFORMANCE
During 2022 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 38 were completed, and this edition was published in January 2022.
The translations and editing for Volume 39 were completed, and this edition was published in October 2022. The translations and editing for Volume 40 were also completed for this edition to be published early 2023. The translations and editing for Volume 41 were commenced for this edition to be published during 2023.
Other publications during 2022:
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 circumstances in Ukraine, the anticipated publication did not take place in 2022.
The translations for Volume 30 in Indonesian/Spanish was published in March 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 2022 we received funding from the Guerrand-Hermes Foundation for Peace plus contributions from individuals. Funding from the World Subud Association for 2021 was received in January 2022. Their funding for 2022 is expected in January 2023.
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 30 July 2023
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 2022.
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:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 30 July 2023
Page 3
SUBUD PUBLICATIONS INTERNATIONAL
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| 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 14 9,280 9,294 11,948 308 12,256 -2,962 0 -2,962 3,641 £679 |
Restricted Funds 352 533 62,037 62,922 41,887 922 42,809 20,113 0 20,113 210,534 £230,647 |
Total Funds 2022 352 547 71,317 72,216 53,835 1,230 55,065 17,151 0 17,151 214,175 £231,326 |
Total Funds 2021 214 13 65,763 |
|---|---|---|---|---|
| 65,990 | ||||
| 52,268 924 |
||||
| 53,192 | ||||
| 12,798 0 |
||||
| 12,798 201,377 |
||||
| £214,175 |
Page 4
SUBUD PUBLICATIONS INTERNATIONAL
BALANCE SHEET AS AT 31 DECEMBER 2022
| 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 NET CURRENT ASSETS 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 |
2022 159 32,847 21,476 198,163 252,486 -6,561 245,925 246,084 -14,758 £231,326 230,647 679 £231,326 |
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 |
The company was entitled to exemption from audit under section 477 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 30 July 2023
Page 5
SUBUD PUBLICATIONS INTERNATIONAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
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.
-
(b) the Charities Act and the Companies Act
-
(c) the historic cost basis of accounting
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 14 9,280 0 0 9,280 9,294 |
Restricted Funds 352 533 0 41,053 20,984 62,037 62,922 |
Total Funds Total Funds 2022 2021 352 214 547 13 9,280 7,741 41,053 38,000 20,984 20,022 71,317 65,763 72,216 65,990 |
|
| 65,763 | ||||
| 65,990 |
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 2022
3. RESOURCES EXPENDED - CHARITABLE ACTIVITIES
| Unrestricted Sale of titles Activities undertaken directly Cost of sales Opening stock 32,650 Purchases 5,847 Postage and packing 3,132 Less closing stock -32,847 Total cost of sales 8,782 Translations and editing 0 Rent and rates 1,253 Salaries 850 Insurance 315 Office supplies and postage 260 Telephone 195 Bank charges 128 Web expenses 58 Sundry expenses 101 Depreciation on equipment 6 £11,948 4. RESOURCES EXPENDED - GOVERNANCE COSTS Professional fees 53 Accountancy fees 255 £308 5. EMPLOYEE INFORMATION Salary National Insurance Number of employees |
Restricted Bapak's Talks Project 0 0 0 0 0 6,760 3,757 28,153 943 780 586 383 175 303 47 £41,887 157 765 £922 |
Total Funds 2022 32,650 5,847 3,132 -32,847 8,782 6,760 5,010 29,003 1,258 1,040 781 511 233 404 53 £53,835 210 1,020 £1,230 2022 29,003 0 £29,003 1 |
Total Funds 2021 33,792 2,021 3,115 -32,650 |
|---|---|---|---|
| 6,278 12,715 2,087 27,000 1,196 421 803 684 318 695 71 |
|||
| £52,268 | |||
| 0 924 |
|||
| £924 | |||
| 2021 27,000 0 |
|||
| £27,000 | |||
| 1 |
Page 7
SUBUD PUBLICATIONS INTERNATIONAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. TANGIBLE FIXED ASSETS
| Cost At 1 January 2022 Additions At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 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 2022 Grant) |
Office equipment 9,506 0 9,506 9,294 53 9,347 £159 £212 2022 2021 £32,847 £32,650 242 425 21,234 20,272 £21,476 £20,697 2,991 2,887 3,570 2,715 £6,561 £5,602 14,758 16,609 £14,758 £16,609 |
Office equipment 9,506 0 9,506 9,294 53 9,347 £159 £212 2022 2021 £32,847 £32,650 242 425 21,234 20,272 £21,476 £20,697 2,991 2,887 3,570 2,715 £6,561 £5,602 14,758 16,609 £14,758 £16,609 |
|---|---|---|
| 9,506 | ||
| 9,294 53 |
||
| 9,347 | ||
| £159 | ||
| £212 | ||
| 2021 £32,650 |
||
| 425 20,272 |
||
| £20,697 | ||
| 2,887 2,715 |
||
| £5,602 | ||
| 16,609 | ||
| £16,609 |
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 2022
11. RESTRICTED INCOME FUNDS
| Bapak's Talks Project | Funds brought forward 210,534 £210,534 |
Incoming resources 62,922 £62,922 |
Outgoing resources -42,809 -£42,809 |
Transfers between funds 0 £0 |
Funds carried forward 230,647 |
|---|---|---|---|---|---|
| £230,647 |
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Bapak's Talks Project Unrestricted funds |
Tangible Fixed assets 141 18 £159 |
Net current assets 245,264 661 £245,925 |
Creditors due after one year -14,758 0 -£14,758 |
Total 230,647 679 |
|---|---|---|---|---|
| £231,326 |
Page 9