SHANTI SADAN (REGISTERED CHARTfY NO 284(tt6) ESTABIISHED 1981 REPORT OFTHE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2tr24
SHANTI SADAN TRUSTEES, ANNUAL REPORT 2024 Contents Content Reference and AdmAnistrative Detail Report of the Trusteeg for the year ended 31 Dec 2024 4-13 Report of the Auditors 1&17 Statement of Flnancial Actlvltle8 18 Balance Sheet 19 Noles forniin8 part of the financlal statements 20-23
SHANTI SADAN TRUSTEES, ANNUAL RF.PORT 2024 Reference and Admini8trative Details Charity Name SHANTI SADAN Registered Charity Number 284076 Charity's Prlnclpal Address 29 Chepstow Villa5, London, Wll 3DR. Trustees The Shanti Sadan Cornpany Ltd (Number 02541508) is the charity trustee. The directors of the company are: Mr P Houghton Mr F Clowes Profes8lonal AdvASOf8 al Advisors RWK Goodman, 69 Cartor Lane, London EC4V SEQ RussL.11 Cooke, 8 Bedford Row, London WCIR 4BX Bankers Metrobank. 160-166 Kensington High St, London W8 7RG Investment Mana ers Cazenove Capital Management Limited, hr0der & Co. Limited, l London Wall Place, Londory EC2Y SAU Accountants Farringaun & Co., Chartered Accountants, 176 Franciscan Road, Tootin& London, SW17 8HH. Auditors Able & Young Limited., Airport House, Purley Way, Croydon, CRO OXZ
SHANfI SADAN TRUSTEES, ANNUAL REPORT 2024 Report of the Trustees for the year ended 31 Dec 2024 Structure, Covernance and Management Governing Document and Constitution Shanti Sadan was founded as a Centre of Advaita Vedanta and Adhyatma Yoga in 1933. The Shanti Sadan Charity was formed to serve as a COTporate entity to own and administer the Centre's material resources, through a Charitable Trust Deed made on 15th November 1981. The Deed, as amended by a &heme of Commissioners dated 4th December 1990, fornis the Governing Document of the charity. Through the Deed, Shanti Sadan 15 constituted as a Trust. Trustees Under the herne, the Shanti Sadan Company Ltd, which is a dormant private limited company without share capital, was appointed Trustee of the Charity. The directors of the company serve as Trustees of the Charity and are referred to as such in this report. The power lo appoint and remove a director is vested in the board of directors. The Trustees. overall responsibility is to fulfil the legal requirements pe.rtaining to the Shanti Sadan Charity 5r) that the Charity can materially support th£.. aims OE the. Ce.ntre. The trustees are responsible for preparing the Truytees, Report and the financial statements in accordance with applicable law and Financial Reporting Standard (FRS102), The law applicable to c.harities in England & Wales requires the tru%teeg to prepare financial Statements for each finanLial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statenients, the trustees are required to: se.lect suitable accounting policles and then apply them consistently,. Observe the methods and prinaples in the Charities SORP. Make judgments and accounting estimate5 that are reasonable and prudenL State whether applicable accounting standards have been followed, subj'ect to any material departures disclosed and explained ID the financial statements,. Prepare the. finanaal statements on the going concern basis unle55 It is inappropriate to presume that the charity will continue In busines5. The trustees are responsible for keeping sufficient accounting Tecords that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regujations 2008 and the. provisions of the trust deed. They are also responsible for safeguarding the assets of the c.harity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are drawn from the active volunteers at Shanti Sadan with a thorough
SHANTI SADAN TRUSTEFS, ANNUAL REFORT 2024 understanding of its activitie5 and objectives. In order to preserve Shanti Sadan as a Centre of the traditional teachings in which the original ideals predominate, they work in close consultation with the presiding Warden of Shanti Sada Prior to appointmenL the Trustees are briefed about their responsibilities, in particular their roIe in ensuring that the materiaI resources of Shanti Sadan are rightly and effectively used to further the aints for which the Centre was estsblished. They have been made fully aware of the requirement for all charities to demonstrate the public benefit of their work. Organisation The purpose of Shanti Sadan is to provide inforniation alK)ut, and OPPKTrrtunities to praciise the teachings of the classical Yoga of Self-Knowledge (Adhyatma Yoga), and its phi1050phical basis, the philosophy of non4uality (Advaita Vedanta), as described further under 'obi"ectives and activities. below. sin ILS foundation by the scholar and teacher Hari Prasad Shastri in 1933, this work has bn continued under the direction of subsequent Wardens of Shanti Sadan, each of whom ha5 Eeen nominated by their predecessor as qualified to oversee the activities of the Centre in all their PTacticaL ethical and philosophical aspects. Shanti Sadan has no paid employees. all work is conducted on a voluntary basis, including that of the Warden. The present Warden is Ms Berta Dandler. who was nominated by her predecessor, DT Anthony M Halliday. in 2(Kk>. She is the author of five books published by Shanti Sadan. She presides at the principal meetings and is informed and consulted about all other matters. Shanti Sadan fLdfiIs its purpose by providing evenLs. meetings, study group5, publications and online resources. All tasks are undertaken by a small team of active volunteers, working in cE05e c¢)operation with each other and the Warden. During the period under review, the total nurnEer of volunteers active at any one time ranged between five and ten. The volunteers are people who have E*en drawn to the teachings offered by the Centre and have chosen to actively pursue and support its purpcw. They are gradually introduced to the work of Shanti Sadan. according to their aptitudes and availability. Care is taken to emphasise the importance of working in a spirit of seNice. for the Centre and the wider community, and not for material personal gain. It is central to the ethos and practice of Shanti Sadan that service is undertaken without seeking to promote an). individual personalities. Some activities are organised according to a timekble loosely based on the academic year. Typically, a series of study se&8ions are held in each of the Sprin& Summer and Aubjmn terms. Accordingly, organisation meetings are held prior to the bewning of each term to map out plans and priorities for the coming terni. Further meetings, formal and othenvise, occur a5 required. This pattern has broadlv sustained as the focus of activities have moved from in-person meetings to online events recently in this and recent years.
SHANTI SADAN TRLSTEES, ANNUAL REPORT 2024 V4VheTe appropriate, specialist professional help is engaged, for example in the technical development of online resources and eBooks. Shanti Sadan is not involved in fundraising activities or grant-making. The main source of funding is income from investments, which have been placed under professional management. lThe Trustees meet annually with the investment managers to review and confirm that the agreed long-terni investment strategy being fulfilled. The Charity Trustees meet periodically to review and address recent developments concerning the use of Shanti Sadan's material resource5 and to coThsider all major spending prop05als. Objectives and A¢tivitie6 Overview The objectives of the charity as stated in the governing document are to advance public education in the classical teachin8s of Adhyatma Yoga based upon the principles of the highesl standards of personal conduct and service to others, and to promote and advance for the public benefit the study and PTactice of, and researLh into, the therapeutic effecl of Yoga as a means of improvin% thLb mental, physical and spiritual health and well-being of the c<)mmunity, and to publish the useful results of any .such research, lind in furtheranLe of such obj'ects, but not otherwise, the Trustees may at their sole discretion: l. Provide., maintain and conduct centres and similar establi.shments including residcntial accommodation, whe.re &i%pirants mtly together receive iThstruclion and training in Adhyatma Yoga and practi%e the. Adhyatma Yoga way of life. 2. Provide fac.ilitie.s for c]a55es lo improve physical or mental hoalth through Yoga posture.s, breathin8, relaxation and meditation techniques. 3. Organise lecture5, courses and seminars for the study of the physical and mental bencfits of the practice of Adhyatma Yoga and of its philosophical and spiritual aspects. 4. Provide courses for teacher-training and for further study for practising teachers to inLrease their knowledge of, and proficiency in, all aspects of teaching the integral approaLh to Adhyatma Yoga. 5. Liaise with other organisations with similar aims and obJ"ectives in order to exchange information abaut relevant topics and provide facilities for research into education and practice of all aspects of Yoga. 6. Establish a library and by means of publishing, printing OT advertising, supply information lo those members of the public who wish to learn more about Adhyatma Yoga. Adhyatma Yoga and Advaita Vedanta are arnong the oldest, most respected and widely practised of the ethical and philosophical schcTrols originating in the Indian subcontinent. Shanti Sadan was eskblished in London as a Centre of Adhyatma Yoga and Aavaita Vedanta by Hari Prasad Shastri to make these teachings available in this country and the
SHANfi SADAN TRUSTEFS, ANNUAL REPORT 2024 West generally, in a suitable and entirely non-sectarian form. Since the passing of the founder in 1956, Shanti Sadan has continued and developed along the lines he established. In time, it was decided to establish a corporate legal entity to be the owner of its niateTial assets, leading to the formation of the Charity in 1981. The teachings of Adhyatma Yoga and Advaita Vedanta offer tried and tested methods for individuals to gain deeper 5eIf-knowledge and the ability to apply universal ethical ideals, for their own benefit and that of the community. Shanti Sadan fulfils its objectives through the production of books, journals and online resources, and by providing talks and group meet(ngs, in-person and online, aEK)ut meditstion, related practices, and the principles on which they are based. In this way reliable, unbiased information is provided for new enquirers interested in the philosophy and methods. For committed aspirants, guidance is provided on how to further their progress towards the yoga ideals, according to their individual circumstances. Shanti Sadan maintains the rnain Centre at 29 Chepstow Villas Wll 3DR where most of its organisation and activities are conducted, and some residential units are maintained so that committed members may be accommodated within reach of the Centre. Publications Shanti Sadan produce5 books on the non-dual teachings that are clear and accessible to contemporary audiences. The books provide means of psychological self-help, and a deeper understanding of human nature and its potentialities. The publications are designed for both general readers, and enquirers who wish to study the teachings in their classical form. The self-help referred to concerns the ability to direct one's own mind, and free it from the domination of moods, anxieties. anger and so on, which are all viewed as impediments to a deeper understanding, and which can, if unchecked, lead to discord and conllict in society. The deeper view of human nature relates to our capacity to transcend alI narrow attitudes, and to discern the underlying unity among individua15 and communities. All its publications are prepared in-house, and Shanti Sadan acts as distributor as well as publisher. Increasingly. such writtngs are being made available digitally as well as in tradItioTl iK)ok form. The IK)ok catalogue iwludes titles on all aspects of the non-dual philosophy and its practical applications. In addition to the books by the founder, Hari Prasad Shastri, both original works and translations of classic Yoga texts, the range has been extended to include works of subsequent Wardens of Shanti Sadarn Marjorie Waterhouse. Anthony M Halliday and Berta Dandler. The collection also includes the works of A J Alston, a renowned Sanskrit scholar and lifelong member of Shanti Sadan. These are translatiorLS of key philosophical texts, among which is a thematic compilation in six volurnes of writtngs by Shankara, the pre- eminent exponent of classical Advaita.
SHANTI SADAN TRUSTEES, ANNUAL REPORT 2024 The title list includes books of practical instruction. such as Meditation - Its Theory ftnd Prach"ce, Training the Mind tlirough Yoga and H(yiip Can No-duality Help Me Noiv? biographies of people who exernplify the Adhyatma Yoga wav of life, as well as a range of translations of philosophical classics, many with ¢ommentsTies that show the relevance of the non-dual teachings to contemporary life. Shanti Sadan produces the joumal Self-Knowledge. pub]ished four times a }'ear. The purpose of the journal is to provide a regular source of fresh material about the non4lual teachings in a forni that can be readily understood and applied by interested enquirers. The content includes articles on the common ground aniong all the great religious and cultural traditions, and the deeper insights of art and science. The Journal carries no advertisin& and the content is free from commercial infiuence. In general, the editOTial policy is to make little refjere[e to short-term political and social developmcnts: the content alwavs f(uSe5 on what is of most concem for individuals in the long terni. The Journal maintains ab501ute editOTial independence. based on the non-dual principles, and it has always been made clear that the purpose is to share, but in no way to impose, these ideals. All publications, including the journaI, are priced 50 that the teachings may reach as many people as possible, not with the primarv aim OE generating revenue. Meetings and Events Meetings are held online and in-person at regional ntre5. incIuding Londorn other UK venues, and in English-speaking areas Outside the UK. In the allocation of resources, priority is currendy given to online developments to take advantage of the greater geographical reach made possible. so that interested individuals can benefit regardless of their location. At all the events and meetings. there are presentatiorLS on guided meditation and related practices, together with an introduction to the e&sential non-dual teachings on which they are based. These practices and principles are conducive to inner well-tEing for individuaIs and tolerance and cooperation within comrnunities. The presentations are designed to be suitable for both eXperIend enquirers and newcomers. For newcomers, they provide an opporttthity to discover the practices and leam how to take them up regularty. For others they are a Chan to progress the practices in a supportive group setttng. At all public meelings and PTesentatioThs. advice and support are offered so far as possible to those who seek it. At the same time, no attempt is made to infiuence their religious or other affiliations, and the essential teachings shared ty all the great wisdom traditions aTe emphasised. All the events are organised and presented by volunteer members of Shanti Sadan. According to traditional practice. participation is alway5 free of charge. Voluntary donations
SHANTI SADAN TRUSTEES, ANNUAL REPORT 2024 aro accepted, but no personal approach is made to individuals. Generally, donations fall short of total costs and the events are subsidi5ed by Shanti Sadan as part of its charitable work. All members of the community are welcomed. On-line Re80urces The development of online resources is a major part of Shanti Sadan's work. Central to this is the Shanti Sadan website. Material on the site 15 arranged broadly with the two audiences in mind.. newcomers interc5ted in finding out more, and those who wish to further their ongoing understanding and practxcc. As well as written articles, there is an expanding range nf audio and visual material, including recordings of guided meditation sessions which can be followed for individual regular practice. A key objective 18 that the Shanti Sadan website should be as easiIy findable as possible to individuals who are. looking for related information but who may not yet be aware specifically of Advaita Vedanta or Shanti Sadan. In practice this means actively engaging in 'search-engine optimi7.ation' (5EO). Apart fr()m Shanti Sadan'% website, selectivL> use is made i)f s()cial media platforms as a way of maximising thL' opportunitie4 for people who may bene.fit to bec()me awarLi of thc) non- dual teachings and praLtices. Social rne.dia ha% proved to be an effective way of promoting Shanti CAdan events. While seeking to take advantage of onlino resources, those. involved in the work of Shanti Sadan are fully aware that the Internet and .s(Kial media have the potential to distract and dissipate the mentsl ene.rgies of people in unthelpful ways. &) care is exerased to take advantage of the opportunitie5 provided by online media, while not contradicting any of Shanti Sadan'5 core values and objectives. Liaison with other organi8ation8 Shanti Sadan maintains cordial relations with othe.r organisations with related objectives. In some cases, publications are made available at miniTnal or no cost, including free subscriptions to the journal for members of enclosed relIouS orders. Achievements and Performance during 2024 The following achievements and activities were supported and enabled with niaterial resourcts administered by Shanti Sadan. 'I'he Trustees consider this to have been an effective use of those resources in pursuit of the Charity's obiec.tives. Publications During the year, there was a slight increase in the total number of publications distributed. As before, the great majority of sales were dirp.ct to individuals rather thtin resellers. There was strong demand for the complete six-volume Slifink7ra Source Book, as well as newer titles, including H1? Can Non-duulity Help Me No71?
SHANTI SADAN TI<USTEFS' ANNUAL REPORT 2024 In September 2024, a new edition of The Thousand TeA¢hings of Shunkarll was published. This text has the special quality of being almost ce.rtainly by the original Shankara, and is not a commentary on something else. For the new edition, some revisions were made to enhance its value to students who wish to study this text by Shankara as a guide to the practical aspects of non-duality as well as the philosophy. The new edition was dcsigned to be physically smaller and lighter than the first, to L)conomise shipping costs. Simultaneously with the new printed edition, an eBook version of the title was also produced. This brings the total number of eBL)oks available to 13, and tliere was an overall increase in the total number of eBooks distributed during the period. All are produced with maximum eBook functionality lo enhance their value to students and researchers. At the end of the period, a project was initiated io ensure th¢lt all titles, including the. first to be published, met the late.st eBook publication standards, following a change of practice by some producers of e-reading device¥. Throughout the year, publication of the quartcrly journal of Self-Knowledge continued. A5 in previous years, it carried a cornbination of new material and previously unpublished Writings. The Tange of lopic¥ covered mily be indicated from tht4 selection of article titlets.. Soiiie Teficliipigs[roiii Iltc Kntlift Upiini51iAd, lil Wliftt Seiise Is t1 World UiIrenl in 5hfiiiknra's Pliilosophji ? Non-dulility npid Sufism, 17w Lliullcjige of Siiffering, ToTtyard5 lill¥ Freedoiii, -11 Non- Duality of Sliri Sliftnknrn, Medilalion nnd Clwerfiiliiess, Blingai)od Gila Cliftpter 18.. Gii?iKg Up ftnd Leiting Go, Meditfttioll - More tlian n s(11Ce or Art, The Tt7iltiriyn Uponisliad,, Bh(Igft<iad Gila C17£lPter 18.. The Highesl Refuge fiiEIl KnoTiiledgc, Winning Over Yoiir Mind, The Introduclion to Shftnknrft's Brftliiiill Sutrll Coiiimeittftry, Tlie Wrtji èo Lftsting Fulfillill1, Slaiidllrd of Mornlily, Tl Briliadfirfinyllki Upfiizislind, Nicholas of Cusa, Lill yourse.lfby Yourself Tlw Tliouslliid Teficliings of Shnnknrfi Parl CFne, Totfility of Experwnce is Vednnlft, Seek aiid YotÉ SIMII I".irtd, Slinnknrii on Medilnlion Aiid Kff oii?ledge, T1 MuiidfikA Upnnishftd, Huiiilln Nftture, Tliere is fi Wny to FA0, The Asceiil of t1 Mind, H1? Can Self nnd Not-self Be Connected? Hafiz nnd My5ticisftrt. During the year, the range of %ub4CriPtion Options to the Journal wa5 adjusted. Three subscription levels were made available.. print and 01lne,. online only (called 'Online. supporters Subscription,), and 'Trree Guest Access for a Week.. The need to subscribe or enrol for frec access applie..% to almost all content. In this way, a balance 15 found between providing value for subscribers and allowing aC$S to all the content to interested individuals. All sub.scribe.rs have the added benefit of being able to access eBook versions for maximum ease and functionality. During the year, work continued to And and contact relevant organisations to which the journal is made available free of charge. Similar arrangements were made with individuals who are in a position to pass on the Journal to places where it is likely to be found by people who will find the contents interesting and helpful. It 15 anticipated that this 'free distribution odel, to appropriate organisations and individuals will increasingly be used. 10
SHANTI SADAN TRUSTEFS, ANNUAL REPORT 2024 As in previous years, individuals who bought books and the journal we.re subsequently in further contact and in some cases have jotned the regular study group5. Meetings Two in-person meetings wore held during the year, in StsKkholrn and Oslo. A number of individuals from the Nordic region had previously expressed interest and taken part in online activities, so it was decÉded to hold events in these locations, where there is also strong F.ngli.th language proficiency. The meetings were promoted through social media and existing contacts. As usual, no charge was made, but potential visitor5 were required to confirm aitcndance in advance. Both meetings attracted considerable interest, and the venues were filled to capacity. The presentations focused on how the non-dual teachings can help individuals find fulfilment and (:i)ntentment through philosophical inquiry and ethical living, without depending on excessive consumption and competitiveness. Some adjustments were made to the programme and PTactic.e.s to eThhan effectiveness and clarity. In both cascs, a number of partiapants subsequently joined online group meetings to continue their study and practice. Internet Resources and Online Media Oiiline sti£dJi lietingS Online study meeting8 continued throughout the year, in tho three series corresponding broadly t() the Spring, Summer and Autumn acade.miL terms. These online meetings continued to develop as the primary and most effeLtive way of providing support and learning <)pportunities to interested individuals. The curriculum was furthor revised in £our stages. The first introduce4 the essential principle ()( non-duality, that the individual viewpoint is limited and allowanr.e must be made Eor a real state of affaxrs that exceeds it. Understanding this help% to understand and apply the principle that one should treat others as one would wish to be treated, the basis of the social contract. The second stage covers how to develop some of the personal qualities that are most helpfuli cl spirit of balanced enquiryi discernment of what lias lasting value, evenne55 of mind in challenging situations, and qualities like self-control, positivity and concentration. The third stage focuses on the non- dual understanding of human nature, in order t() best understand its full potential. For students who have completed these three foundational series, there are ongoing meetings, providing OPPOTtunities to SdY specific aspccts of the teachtngs and to discuss individual experiences and COT)ce.rns. Veral group5 ran at each stage each term. They each met weekly, with follow-ups and individual support where required. The timing of each group is arranged after liaising with all the potential participants. web.site The effectiveness of the WehOsting company was reviewed and a new host selected, which led to Tnore prompt and effective perforniance. During the year, inc.reasing support was provided by individua15 interested in the teachings who atso have relevant technical skills, and this resulted in a number of itnprovement5 including the website 8itemap, search facility, and appearance of inge5 and text, especially on mobile devices.
SHATrm SADAN TRUSTEES, ANNUAL REFORT 2024 As well as all the new items in the lf-Kn0V*.1edge Journal section of the website. new material was added to the 'watch and listen, section of videos and recordings. New material by the Warden was added on subj'ects including.. insights that bring relief from anxiety and tension,. how to respect individuaI differences while recognising what is shared and common to alI. which is the basis of effective ethics and goodwill; an effective balance between independence of mind, positive affirmatio and fllS5ed attention. A nUMr of viewers expressed their appreciation of these resour. Online conthct supporl M05t enquiries by email require individual resFx)nses. Frequently. contact is maintained through Èndividual online meetings. Thi5 work i5 htghly time-intensive. but is considered essential to the charity's purpose. Volunteer Development Volunteer development has effectively mirrored the growth of online resources and in- person meetings. A number of volunteers expanded their capacity to organise and facilitate online meetings and study sessions. Volunteers have increasingly contributed to the development and maintenae of the Shanti Sadan website. to considerable mutuaI benefiL All volunteer development is based on continued engagement in the philosophical and practical aspects of non-duaIity. Material resources There were no major change5 to the material resour of the charity during the year. Public Benefit The Trnstees are conscious of the Charity's obligation to provide public benefit and consider that during the year in review the obligation has been met by materially supp)rting Shanti Sadan 5 work of providing information alx)ut. and OPrtUnitieS to practise, traditional teachings on the basis of ethics on non-sectarian lines; the underlying conunonality of the great religions and cu]tures; the means of creating s{la1 harniony, and the development within the Indidual of the capacities for deep relaxatio concentration. tolerance, good-will and contentment, that can be sustained in times of adversity. Financial Review Overview Total resources expended during the year was £177J<A) and to income was £390,281. Full details of these amounts are Ven within this report under the statement of fInaJaI activities. 12
SHANTI SADAN I'RUSTEFS, ANNTUAL REPORT 2024 The investments comfortably achieved the goal of exceeding infiation by two per cent. The Trustee5 are satisfied that the investment managers continued to fulfil the objective of providing adequate income t() fund the Centre's activitie5, while preserving the capital and protecting against infiation in the long terni. During the year. notification was received of a subs.tantial donation from the estate of a fornier member and the amount receivable of Li97.978 has been Ancluded as incorne for the year. The Trustees are satisfied that the charity is well placed financially lo conlinue supporting the activities of Shanti Sadan. Reserve8 The Trustees consider that the reserves held are adequate and appropriate given that investments are the main source of income for the Charity. and that the objective is to ensure that Shanti Sadan remains viable for the indefinite future. Risk Management The Trustees consider that the principal risk.s to the charity's capacity to continue to serve its purposc have been addressed through adequate insurance. diversified investment strategy, and contingency plannin8. Plans and Priorities for the Future Study group meeiings are to be Further devcloped, with a f<Ku.s on a structured curriculum for new student5 and providing effeciive support for those with ongoing and deepening interest. Occasional in-per50n meetings will be held, in I<Kations and venues where relevant interest and language skills arc most likely to be found. Further audi(Fvisual material is to be produced and distributed as widely as possible. Work is to continue on new publications and the conversion of existing ones to eBook format. Declaration The Trustees declare that they have approved the Trustees Report aix)ve. Signed on behalf ol the Trustees wK- ald (P Houghton) 17jil£oxS 13
SHANTI SADAN AUD REPORT For the ear ended 31 December 2024 DEPENDINf AUDrroR'S REPORT TO THE TRUSTEES OF SHANfi SADAN Opinion We have audited the financial statements of Shanti Sadan (the "Charity") for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes to the financial statements. including a summary of sAgnificant accounting policies. The financial reporting fTamework that has been applied in their pre.paration is applicable Iaw and United Kingdom Accounling Standard5, including Financial RopoTting StandaTd 102: The Financial Reporting Standard applicable in the LTK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the Charity's affairs as at 31 December 2024 and of its income and expenditure for tho year then ended. have been properly prepared in accvTdaTKe with Lnited Kingdom Generally Accepted Accounting PraLtice; have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with tnternational Standards on Auditing {UK) {ISAs (UKI) and applicable law. OUT responsibilities under iho5e standard5 are further dL'scribed in the Auditor's responsibilities for the audit of the financial statements section of our rep()Tt. We are independenl of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with the.se requirements. We beLieve that the audit evidence we have obtained is sufficxent and appropriate to provide a basis for OUT opinion. Con¢luJion8 relatins to soing concern We have nothing to report in respect of the following matters in relation to which the TSAS {UKI requtre us to report to you where: the trustees, use of the 80ing concern basis of accounling in the PTeparation of the financial statements isnot appropriate" or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt aiK)Ut the Charity's ability to continue to adopt the goin8 concern basis of accounting for a period of at least twelve months from the date when the financial statements are authoTiSed for issue. 14
SHANTI SADAN AUDIT RE.PORT For the ear endcd 31 December 2024 Othér Inforntation The trustees are responsible for the other information. The other information comprises the inforrnation included in the annual report other than the financial statements and our auditor's report thereon. Our (?pinion on the financial slalements does not cover the other information and, except to the extent otherwise explicidy stated in our report, we do not express any forni of assurance conclusion thereon. In connection with our audit of the Einancial staternenty, our respc)nsibility is to read the other information and, in duing 50. consider whethor the other information is materially inconsi5lLsnt with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identtfy such material inconsistencies or apparent material misstatements, we are. Tequired to determine whether there is a material mi55tatement in the financiaL,statements or a material misstatement OE the other information. Lf, based on the work we have performed, we iunclude that there is a material misstatement of this Other information, we are required to Teport that fact. We have nothing to report in this regard. Matter8 on which we are required to report by exception In the light of the knowled8e and understanding of the Charity and its environment obtained in thL' course uf the audit, WL. have not idLintiEied material misstatL'ments in the Trustees, Annual Report. We have nothin8 to report in respect of the following matters ID relation to which the Charities Act 201 I requirL)S US to report to yuu if, in L)ur opinion: sufficient accounting records havL not been kept; the Einancial statL'mL'nt5 are not in agreement with the accounting records and returns,, or we have not obtained all the information and explanations necessary for the purposes of OUT audit. Re8ponsibilitie$ of the trustee8 As explained more fully in the trustees, responsibilities ststement set out on pa8e 4, the trustees are responsible for the preparation of the financial statements. ana for being satisfied that they give a true and fair view, and for such internal control a5 they deterniine is necessary to enable the preparation of financial Statements that are free from material misstatement. whether due to fraud or eTTOr. In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, di5closin& as applicable, matters related to goin8 Concern and using the going concern basis of accounting unles5 the trustee5 either inlend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. 15
SHANTI SADAN ALDIT REPORT For the ear ended 31 December 20?4 Our responsibilities for the audit of the financial statements Our obj'ectives are to obtain reasonable as8urance about whether the financial statements as a whole are free from AterIal rnisstatement, whother due to fraud or err()r, and to issue an auditor's report that includes our opinion. Reasonable (Ilysurance is a high level of assurance, but 15 not a guarantee that an audit conJueted in accordance with ISA5 (UK) will always dètect a material misstatement when it exists. Misstatements can artse from fraud or error and are considered mateTial if, individually or in the aggresate, they could reasonably be expected to infiuence the economic decisions of users taken on the basis of these Einancial statements. Irregularities, including fraud, are instsnces of non<ompliance with laws and regulations. We design procedures in line with i)ur responsibilities, outlined abuve, to detect material misstatements in respect o( irre8uiarities, including fraud is detailod below. Based upon our understanding of the charity and the industry, we Identified that the principal risk (If non-complianee with laws and re8ulations related tu charity Law applicable in England and Wales, and we corL8idered the exte.nt to which non4ompliance. might havo a material effect upun the finanLial staloments. Wo also c(Insidered thobo laws and resulatic?ns that have a direct impact on the preparation of the financial statements, Such as the Charities Act 2011 and payroll tax. We evaluated managemenys incentives and opportunities for fraudulent manipulation of the financial statements lincluaing the override of controls) and deterrnined that the principal risk was from the overriding of those controls and Management bias in accounting estimates. Audit procedures included.. -Enquiring with management regarding correspondence with regulators and tax authorities,. -Evaluating management contro15 designed to ptevent fraud and detect irregularities. hallenging assumptions and judgemcnts made by management in their critical accounting estimates. A further descTiPtion of our responsibilities for the audit of the financial statements 15 located on the Financial Reporting Council's website at: www.frc.OT auditorsTe5 onsibilities. This description forms part of our auditor's report. 16
SHANfi SADAN AUDIT REPORT For the ear ended 31 December 20?4 Use of our report This report 15 made 501ely to the Charitv's tru5tee5. as a EK)dy, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might State to the Charity's trustees those matters we are required to state to them in an auditor's report and for no otheT purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the Charity's trnstees as a kndy. for our audit work for this report. or for the opinions we have formed. Po£ Mrs Rekha Shah Senior Statutory Auditor For and on behalf of Able & Youn8 Limited Airport House Purley Way Croydon Surrey CRO OXZ Dated....2£J.0g12025 17
SHANTI SADAN STATEMENT OF FINANCIAL ACTtVITIFS For the ear ended 31 December 2024 tes un$1cted Restricted EndDwmÈnt 2024 2023 Inalrne endtswments from: L>onotlon5. legodes pnrfslnr In¢on Gift Aid, Covenants and general dLination5 In(oftthg resour$from¢h0TltulJ1e4rtrt Publications 598.617 598.617 625 7,187 2.950 7,187 2.950 4,035 Rent Other Inttrmt Other resources Investment incorr 281.527 281.527 223,346 Total iornIng resources 890.281 890.281 230.906 Expendlture on: clritable ottwities Publications and Publit Talks Prem¢ses - r31r$ and maintwance PreSe$ - other costs lTrsuiance 28.146 9281 55,391 5.632 9,202 41,706 20.609 28.146 9,281 55,391 5,632 9,202 41,706 20.609 46.427 158,793 61.814 5,825 8,194 40.702 20.642 Other misEd13neous costs Fund managerrent char825 Depreriation GOrN£t*sts Exami ner's fee Audit lees kcountancyf 528 3.900 3.523 3.900 3.S23 2,965 Totsl r&59urces expthded 177390 177.390 345.890 Net incerning loutEOi ngl resources for theye3r Transfer5 betw funds Net Gain on disp053ls of fixed ass£ts Net Gai n Ilossl on inv&tment assets Net movement in funds Fund5 at l January 2024 Funds at 31 December 2024 712.891 712.891 {114,9841 459.972 1.172,863 10.384.068 11,556,931 459,972 191.860 1,172,863 76.876 10.384,068 10.307,192 11,556.931 10,384,068 Approveil by the Dirrftors of The Shanti Sadan Company Ltd on.. . and on th•r bthall by . IP Houghtonl 18
SHA SADAN BALANCE SHEET For the ear ended 31 December 2024 Unrestricted Restrfrted Fndr*wment 2024 2023 lsjtes Tangiblefixed a55ets InYe5tvnents 1.662.807 9.133,429 10,796.236 1.662B07 9,133,429 10.796.236 1,680,167 8,553,808 10.233,975 Total fixed assets CURRENT ASSETS Publication Stock Short term bank deposits Debtors apd PTepayments Cash atbankand in hand 61.157 15536 601.898 99.604 778.195 61.157 IS.536 60198 99.604 778.195 61.726 15,364 4,326 82,277 163.693 Total current 3$5ets CURRENT LIABILMES Creditors and accru1 chai8e5 117.5001 117.5001 113,6001 NET CURRElAssET5 760.695 760.695 150,093 ASSEIS 11.556.931 11.556,931 10.384,068 FUNOS Genwal / RestrIcted/Endovmt 11.556931 11.556.931 10,384.068 TOTAL FUNDS 11.556.931 11,556,931 10.384,068 Approved by the Directors of The Shanti Sadan Company itd on. . and signal on their bthalf by Houghtonl 19
SHAPUI SADAN NOTE TO THE FINANCIAL STATEMENll5 For the ear ended 31 December 2024 l. Accounting PolKie5 1. Basis ol preparation The accounts have been prepared under the hi%toric cost convention except for investments, which are valued at market value. The accounts have been prepared in accordance with the Charities Statement of Recommended Practice ISORPI."Accounting and Reporting by Charilies" and the Charities Act 2011. 11. Goin8 concem The trustees consider that there are no rnaterial uncertainties about the charty's ability to continue as a going concern. The trustees do not consider that there are any sources of eStiMatn uncertainty at the reporting date that have a 5igniftcant risk of causinga material adjustmentto the carrying amounts of assets and liabilities within the next reporting period. 111. lrtome Income is recognised when the charity has entitlementto the funds. any perfomiance conditions ètlached to the income have been met. it is probable that the income will be received and that the amount can be meaSUd reliably. Income from government and other grants. whether 'capital' grènts or 'revenue' grants, is recognised when the charity has entitlement to the funds, any perforrnance condttlOn5 attached to the grants have been met, it is probable thai ihe income will be reIVed and the amount can be measured reliably and is not deferred. IV. Interest receivable Inte$t on funds held on deposit is include(I when [Vab and the amount can be measured reliabl¥ by the charity- this s normally upon notifKation of the interest paid or Payab by the bank. V. Fund accounling General funds are unrestricted funds whTrch are available for use at the discretion of the trustees in furtherance of the 8eneral objectives of the charity and which have not been deSnated for other purposes. Designated funds cornprtse unrestricted funds that have been Set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restrictedfunds are fufids which are to be used accordance with specific restrictions imposed by donors or which have been raised by the tharity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the note5 to the financial statements. Vl. Expenditure Expenditure 15 recognised once there a kegal or construrtive obl*ation to make a payment to a third party, "rt is probable that settlement will be qUired and the amount of the obligation can be measured reliably. 20
SHANfI SADAN NOIE TO THE FINANCIAL sfATEMENTS For the ear ended 31 Dernber 2024 Expenditure is classified under the folkfywing activity headTrngs'. Expendilure on charitable activits includes the costs of delivering services and other educatKJnal activit5 undertaken to further the purp)ses of the charity and their associated support costs Other expendrture represents those items not falling into any other heading Vll. Usted investments Imiestments a a form of basic financial instrument and ère initialty recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recogni5ed In the statement of tinancial activitie5. Investment gains and losses, whether realised OT unrealised. are combined and shown in the heading"Net gainslllosse51 on investments" in the statement of financ1 aciivities. The charty does not acquire put Oplions, derivatives or other complex financial instruments. Vlll. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three mnths or less from the de of acquisition or openin8 of the deposit or Similar account. IX, Oepreciatlon Provision for depreciation of fixed assets held for use by the charrty is made al annual rates calculated to spread the cost Ile5s anticipated Idual disposal value) of each asset evenly over its usefvl lrfe. Fixtures and fittin85- 2CI% per annum on a 5traght line basi5. Freehold and leasehold properties- 1% per annum ori a straight line ba51S. 21
SHANTI SADAN NOTE TO THE FINANCIAL STATEMENTS For the ear ended.31 December 2024 2. Fixed Assets Freehrkld Leasehold Furniture fittings Totsl property propÈ¥ty Cost/valuation Brought forward Addition5 Transfer tolfrom revaluation reserve Dispos315 Carried forward DeprlatIon Brought forward Chargefor theyear Disp05a15 Carried forward 125.520 1,659,815 65,096 3.250 1,850.431 3,250 125,520 1,659,815 68.346 1.853,681 5.648 628 116,187 16.598 48.429 3,384 170.264 20,610 6,27G 132.785 51,813 190,874 Net book value At 31 tlecembef 2024 119,244 1,527,030 16,533 1,662.807 At 31 December 2023 119B72 1,543,S28 16,667 1,680.167 3. Fljted Asset Investments 2024 2023 Cazenove Capitsl Mana8eiwt Carryin8 Valueat the be8innl ng of the year Additions Di5P05als at Carryin8 Value 8,553,808 8,462.630 8,553,808 459.972 1161,7061 281.3S5 9.133,429 8,462,630 191,860 1323.8901 223.208 8,553,808 Unreali5ed 8ain (Ios51 on retained inVestmts Other Transfers Iiefer note below) Investment income Carryin8 Value atthe end of year The charitws investments are manage(I by Cazenove Capital Management Limited and consists of variou5 investments in equities. bonds and other Investment funds. They are included in the financial statements at market value as at the year end per the Cazenove Capital Management report. Other transfers of £161,70612023.' £323,8) represent fund managers management charges £41,70612023- £41,702) and cash transfers £120,(K)012023- £283,188) to shanti Sadan's current account for fundln8 the nofmal day to day working of the charity.
SHANTI SADAN NOTE TO THE FINANCIAL sfATEMEWt5 For the ear ended 31 DeCeMr 2024 4. Trustees, Remuneration and Expenses None of the directors of The Shaffli Sadan Company Ltd. which is the sole trustee of the charity. were paid any remuneration by the charity- One director was provided with accommodation as part of the charitable activities of Shanti Sadan during 2024 land 20231. 5. Grnnts and Restricted Funds No grants ware received or made by Shanti Sadan during the year. 6. Rent The nts received during the year of £2950 {2023= £20) includes amounts CeIVed from beneficiaries occupying propert5 kept by Shanti Sadan to enabk committed aspirants to attend the ntre regularty. The occupants do not pay a commercial rent. 7. DeIrt5 and Prepayments Debto and prepayments of £601.89812023- £43261 includes legacles receFvable of £597.97812023= NILI, which were received after the year fiom the estate of Peterjohn Churchill who passed away in March 2023.