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 b￿n 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 tradItioT￿l 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 eXperIen￿d 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 relI￿ouS 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 H￿1? Can Non-duulity Help Me No71? SHANTI SADAN TIonotlon5. legodes pnrfsln￿r In¢on Gift Aid, Covenants and general dLination5 In(oftthg resour￿$from¢h0TltulJ1e4rtrt Publications 598.617 598.617 625 7,187 2.950 7,187 2.950 4,035 Rent Other Inttrmt Other resources Investment incorr 281.527 281.527 223,346 Total i￿ornIng resources 890.281 890.281 230.906 Expendlture on: cl￿ritable ottwities Publications and Publit Talks Prem¢ses - r￿31r$ and maintwance Pre￿Se$ - 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 GO￿r￿N£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.536 601￿98 99.604 778.195 61.726 15,364 4,326 82,277 163.693 Total current 3$5ets CURRENT LIABILMES Creditors and accru￿1 chai8e5 117.5001 117.5001 113,6001 NET CURREl￿AssET5 760.695 760.695 150,093 ASSEIS 11.556.931 11.556,931 10.384,068 FUNOS Genwal / RestrIcted/Endovm￿t 11.556931 11.556.931 10,384.068 TOTAL FUNDS 11.556.931 11,556,931 10.384,068 Approved by the Directors of The Shanti Sadan Company itd on. . and signal on their bthalf by Houghtonl 19 SHAPUI SADAN NOTE TO THE FINANCIAL STATEMENll5 For the ear ended 31 December 2024 l. Accounting PolKie5 1. Basis ol preparation The accounts have been prepared under the hi%toric cost convention except for investments, which are valued at market value. The accounts have been prepared in accordance with the Charities Statement of Recommended Practice ISORPI."Accounting and Reporting by Charilies" and the Charities Act 2011. 11. Goin8 concem The trustees consider that there are no rnaterial uncertainties about the charty's ability to continue as a going concern. The trustees do not consider that there are any sources of eStiMat￿n uncertainty at the reporting date that have a 5igniftcant risk of causinga material adjustmentto the carrying amounts of assets and liabilities within the next reporting period. 111. lrtome Income is recognised when the charity has entitlementto the funds. any perfomiance conditions ètlached to the income have been met. it is probable that the income will be received and that the amount can be meaSU￿d reliably. Income from government and other grants. whether 'capital' grènts or 'revenue' grants, is recognised when the charity has entitlement to the funds, any perforrnance condttlOn5 attached to the grants have been met, it is probable thai ihe income will be re￿IVed and the amount can be measured reliably and is not deferred. IV. Interest receivable Inte￿$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 deS￿nated 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 De￿rnber 2024 Expenditure is classified under the folkfywing activity headTrngs'. Expendilure on charitable activit*s includes the costs of delivering services and other educatKJnal activit￿5 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 financ￿1 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 d*e 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 Depr￿latIon 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 inVestm￿ts 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 DeCeM￿r 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= £2￿0) includes amounts ￿CeIVed from beneficiaries occupying propert￿5 kept by Shanti Sadan to enabk committed aspirants to attend the ￿ntre regularty. The occupants do not pay a commercial rent. 7. DeIrt￿5 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.