Company number 1210435
SUBUD PUBLICATIONS INTERNATIONAL
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
SUBUD PUBLICATIONS INTERNATIONAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
| 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 2023
The Directors present their annual report with the accounts of the company for the year ended 31 December 2023.
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.
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SUBUD PUBLICATIONS INTERNATIONAL DIRECTORS' AND TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENTS AND PERFORMANCE
During 2023 we made good overall progress and produced translations of the following editions of The Complete Recorded Talks of Bapak Muhammad Subuh:
Volume 40 was published in February 2023.
The translations and editing for Volume 41 were completed, for this edition to be published early 2024.
The translations and editing for Volume 42 were also completed ready for this edition to be checked and published mid 2024,
Some translations were received for the revision of Volume 1 - Book 1, for processing and publication in 2024.
Other publications: During 2023
Funding was provided in the previous year for the publication of the Complete Recorded Talks of Bapak Muhammad Subuh, Volumes 32 and 33 in Indonesian / Russian, for publication in 2024.
Pre-press activities for Volume 31 in Indonesia/Spanish were completed for this edition to be published early 2024.
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 2023 we received funding from the Guerrand-Hermes Foundation for Peace plus contributions from individuals. Funding from the World Subud Association for 2022 was received in January 2023. Funding for 2023 was received in August 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: Dated 6th September 2024
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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 2023.
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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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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 25 June 2024
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SUBUD PUBLICATIONS INTERNATIONAL
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| 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 22 5,523 5,545 5,832 52 5,884 -339 0 -339 866 £527 |
Restricted Funds 178 2,256 43,262 45,696 51,521 992 52,513 -6,817 0 -6,817 230,647 £223,830 |
Total Funds 2023 178 2,278 48,785 51,241 57,353 1,044 58,397 -7,156 0 -7,156 231,513 £224,357 |
Total Funds 2022 352 547 71,317 72,216 53,835 1,230 55,065 17,151 0 17,151 214,175 £231,326 |
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SUBUD PUBLICATIONS INTERNATIONAL
BALANCE SHEET AS AT 31 DECEMBER 2023
| 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 |
2023 119 33,720 588 209,073 243,381 -5,261 238,120 238,239 -13,882 £224,357 223,830 527 £224,357 |
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 |
|---|---|---|
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: Dated 6th September 2024
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SUBUD PUBLICATIONS INTERNATIONAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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(b) the Charities Act and the Companies Act
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(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 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 22 5,523 0 0 5,523 5,545 |
Restricted Funds 178 2,256 0 20,000 23,262 43,262 45,696 |
Total Funds Total Funds 2023 2022 178 352 2,278 547 5,523 9,280 20,000 41,053 23,262 20,984 48,785 71,317 51,241 72,216 |
|---|---|---|---|
Turnover represents the sales of Bapak's Talks Volumes and other Subud titles throughout the world.
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SUBUD PUBLICATIONS INTERNATIONAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
3. RESOURCES EXPENDED - CHARITABLE ACTIVITIES
| Unrestricted Sale of titles Activities undertaken directly Cost of sales Opening stock 32,847 Purchases 3,614 Postage and packing 2,235 Less closing stock -33,720 Total cost of sales 4,976 Translations and editing 0 Rent and rates 292 Salaries 400 Insurance 61 Office supplies and postage 8 Travelling 4 Telephone 32 Bank charges 14 Web expenses 16 Sundry expenses 24 Depreciation on equipment 5 £5,832 4. RESOURCES EXPENDED - GOVERNANCE COSTS Professional fees 0 Accountancy fees 52 £52 5. EMPLOYEE INFORMATION Salary National Insurance Number of employees |
Restricted Bapak's Talks Project 0 0 0 0 0 10,839 5,554 32,088 1,163 142 85 604 257 302 452 35 £51,521 0 992 £992 |
Total Funds 2023 32,847 3,614 2,235 -33,720 4,976 10,839 5,846 32,488 1,224 150 89 636 271 318 476 40 £57,353 0 1,044 £1,044 2023 32,488 0 £32,488 1 |
Total Funds 2022 32,650 5,847 3,132 -32,847 8,782 6,760 5,010 29,003 1,258 1,040 0 781 511 233 404 53 £53,835 210 1,020 £1,230 2022 29,003 0 £29,003 1 |
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SUBUD PUBLICATIONS INTERNATIONAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
6. TANGIBLE FIXED ASSETS
| Cost At 1 January 2023 Additions At 31 December 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 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 9,347 40 9,387 £119 £159 2023 2022 £32,847 £32,847 338 242 250 21,234 £588 £21,476 2,991 2,991 2,270 3,570 £5,261 £6,561 13,882 14,758 £13,882 £14,758 |
|---|---|
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.
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SUBUD PUBLICATIONS INTERNATIONAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
11. RESTRICTED INCOME FUNDS
| Bapak's Talks Project | Funds brought forward 230,647 £230,647 |
Incoming resources 45,696 £45,696 |
Outgoing resources -52,513 -£52,513 |
Transfers between funds 0 £0 |
Funds carried forward 223,830 £223,830 |
|---|---|---|---|---|---|
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Bapak's Talks Project Unrestricted funds |
Tangible Fixed assets 106 13 £119 |
Net current assets 237,606 514 £238,120 |
Creditors due after one year -13,882 0 -£13,882 |
Total 223,830 527 £224,357 |
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