**REGISTERED CHARITY NUMBER: 292011**
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2020
for
Life Eternal Trust (UK)
Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR
Life Eternal Trust (UK)
|Contents of the Financial Statements||||
|---|---|---|---|
|for the Year Ended 31 July 2020||||
|||**Page**||
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|13|
|**Detailed Statement of Financial Activities**|14|to|15|
## Life Eternal Trust (UK)
Report of the Trustees for the Year Ended 31 July 2020
The directors of the trustee company present their report with the financial statements of the charity for the year ended 31 July 2019. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Life Eternal Trust (UK) - LET(UK) - began operating in 1985. The Charity's activities involve the dissemination of knowledge promoting spiritual health and wellbeing, and in particular the techniques of Sahaja Yoga meditation and the teachings of Shri Mataji Nirmala Devi.
Life Eternal Trust (UK) Limited, a company limited by guarantee, registered in England and Wales company number 06534285, is the sole trustee of Life Eternal Trust (UK). The Directors of the company are listed below and the Company Secretary is Stephen Martin.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The aims of the charity are as set out in the trust deed and centre on the dissemination of knowledge which promotes and actualises physical, mental, emotional and spiritual health, balance and well-being. This knowledge comprises in particular the techniques of Sahaja Yoga meditation and the teachings of Shri Mataji Nirmala Devi, which constitute "Vishwa Nirmala Dharma" (Universal Pure Religion) - the synthesis and integration of the world's major religions. The charity promotes the idea and practice of "Sahaja Dharma" as a model for a tolerant and spiritually-centred way of life. The charity seeks to advance education throughout the world and fosters the understanding and practice of music, arts and crafts from different cultures.
Page 1
Life Eternal Trust (UK)
Report of the Trustees for the Year Ended 31 July 2020
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities**
It has always been one of the Charity's core activities to provide regular free classes in Sahaja Yoga techniques and the teachings of Shri Mataji Nirmala Devi. The classes are usually offered to the general public in community premises, across London and throughout the UK, and hosted by established practitioners of Sahaja Yoga (acting as unpaid volunteers). Owing to Covid-19 restrictions in the past year, such physical meetings have not been possible and the Charity's volunteers have developed a comprehensive substitute programme of online classes.
Although online classes lack the face-to-face interaction which is so important in welcoming new practitioners and sharing with them the techniques and benefits of Sahaja Yoga meditation, the Charity's volunteers have successfully adapted their individual techniques to enable virtual classes to provide a worthwhile temporary replacement for in-person meetings. One incidental benefit of online classes, compared with physical "local" meetings, is the absence of geographical constraint on those who can attend. Increasingly in recent years the Charity has used online methods to advertise Sahaja Yoga meetings and to establish and maintain contact with people interested in Sahaja Yoga, and the techniques learned have been put to good use in managing the new type of online classes.
Owing to Covid-19 restrictions it has been necessary for the Charity to suspend its programme of regular and repeat attendance at exhibitions and festivals. Organisers of these events welcome the Charity's participation, providing as it does the beneficial effects of Sahaja Yoga meditation for their show visitors, and have given the Charity favourable terms to carry bookings forward to future events.
A two-week programme of advertising on London buses was arranged for May 2020. However, following concerns over lack of buses and foot traffic on London streets at that time, and after considerable discussion with London Transport and their agents, the advertising was re-scheduled for August 2020, with the special terms negotiated earlier being maintained.
The Charity has secured, for the ninth consecutive year, a "Google Adwords" grant for publicising the Charity's meditation meetings. The value of the grant is $120,000.
The certificate of lawfulness obtained for the Charity's use of its property at Bloxham Barn Farm will, in due course, enable the Charity to carry out a wider range of its activities at the premises. Comprehensive building improvements have been planned, designed and costed, and contractors started work on site in late 2020. The Charity decided that the improvements should be managed in phases and funded by donations raised specifically for the purpose, and this income already covers the majority of the works, without significant impact on the Charity's other income.
The Charity's property in Cantalupo Ligure, Italy, acquired in June 2014, continues to be available for meditation and cultural events, in furtherance of the aims of the Charity. Use of the venue, and associated donation income, has been much reduced owing to Covid-19 restrictions. Any shortfall after meeting maintenance and other running costs is covered by a substantial restricted reserve fund held by the Charity. The local volunteer manager of the Centre reports regularly to the Charity.
The Charity has continued to provide funds for international education projects run by sister organisations in Italy and the Czech Republic, and financial support was given to the spreading of Sahaja Yoga internationally.
The Charity's collaboration with the international Inner Peace programme, reported in previous years, has been discontinued. It had been a minor part of the Charity's overall activity.
The Charity continues to take the necessary steps to fulfil its obligations under the General Data Protection Regulation.
## **Volunteers**
The charity relies solely on volunteers for its administration and its charitable work and has no paid employees.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Voluntary donation income from Sahaja Yoga practitioners, much of it as regular monthly standing orders, is used to provide the equipment and facilities necessary for Sahaja Yoga meetings and functions in the UK, and to give financial support to international activities as noted elsewhere in this report.
## **Charitable purposes and public benefit**
The directors of Life Eternal Trust (UK) Ltd have considered the requirements of the Charity Commission in relation to charitable purposes and public benefit, and are fully satisfied that the charity meets those requirements.
Page 2
## Life Eternal Trust (UK)
Report of the Trustees for the Year Ended 31 July 2020
## **FINANCIAL REVIEW**
## **Principal Funding Sources**
It is a key tenet of the Charity that the knowledge and experience of Sahaja Yoga is always provided completely free of charge. Activities are financed by voluntary donations from Sahaja Yoga practitioners as the Charity does not raise donations from the general public.
## **Reserves policy**
At 31 July 2020 reserves totalled £1,920,025 (2019 - £1,838,696), of which £726,129 is restricted. Unrestricted reserves of £1,193,896 are to be used in line with the aims of the Charity as set down in the trust deed.
## **Review of the year**
Total incoming resources for the year amounted to £290,618 (2019 - £339,131). During the year, direct charitable expenditure was £209,289 (2019 - £302,040).
Net incoming resources for the year amounted to £81,329 (2019- £37,091). There is an accumulated balance on unrestricted funds of £1,193,896 as at 31 July 2020 (2019 - £1,171,932) and restricted funds totalled £726,129 (2019 - £666,764).
## **FUTURE PLANS**
The charity continues to have two main areas of focus. It will continue to spread the knowledge of Sahaja Yoga meditation, promoting spiritual health and wellbeing for all, through public meetings and events. Of necessity, during a period of restrictions on social gatherings, greater emphasis will be given to online classes. Furthermore, the charity will provide the means for Sahaja Yoga practitioners to deepen their spiritual development through participation in cultural activities.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is administered under a Trust deed dated 28 May 1985 as amended by further deeds dated 18 May 2000 and 29 February 2008. Life Eternal Trust (UK) is registered with the Charity Commission for England and Wales, number 292011.
## **Recruitment and appointment of new trustees**
The directors of Life Eternal Trust (UK) Limited bring their own personal and professional skills to bear when acting as trustees of the charity. They identify the mix of skills, knowledge and experience necessary for the efficient and effective operation of the charity and ensure that all needs are met, calling on external professional help as appropriate.
## **Organisational structure**
During the financial year reported on herein, the directors of Life Eternal Trust (UK) Ltd were responsible for setting strategies and policies for the Charity and for ensuring that these are implemented. The directors meet on a regular basis to review the work of the Charity and to deal with its detailed financial and administrative affairs. Meetings are in-person whenever possible, but, under Covid-19 restrictions, have of necessity been online. The directors of Life Eternal Trust (UK) Ltd have appointed a number of working groups to deal with the various areas of the Charity's activity such as publicity, education, social affairs, property, finance, and so on. Each working group includes at least one director of
## **Induction and training of trustees**
Directors of the trustee company who have held office for many years take care to share the knowledge they have acquired. Advice from the charity's advisers is fully reported to all trustee company directors, in particular the risk assessment procedures recommended by the charity's insurance broker. The trustee directors recognise the need to assess whether any training might be required in order to improve the way they manage the charity.
## **Wider network**
The charity cooperates with organisations in other countries having the same aims and objectives. In particular, the charity supports the Shri Mataji Nirmala Devi Sahaja Yoga World Foundation based in Cabella Ligure, Italy, and Nirmal Intellectual Property Corporation in the USA which is responsible for the preservation and distribution of the recorded teachings of Shri Mataji Nirmala Devi.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered Charity number** 292011
## **Principal address**
14 Essex Road Enfield EN2 6TZ
Page 3
## Life Eternal Trust (UK)
Report of the Trustees for the Year Ended 31 July 2020
## **Trustees**
**Directors of the trustee company** Alison Bauzys (appointed 12.02.2020) Sheng-Chia Chung John James Glover Geoffrey Godfrey Victoria Raie Halperin Raymond Philip Harris Alan Henderson Stephen James Martin Helen Ann Miller (resigned 01.03.2021) Dr Zafar Iqbal Rashid Dr Sarah Loveday Setchell
## **Independent Examiner**
Peter Upton FCA CTA Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR
## **Solicitors**
Stone King LLP Boundary house 91 Charterhouse Street London EC1M 6HR
## **Bankers**
National Westminster Bank Plc PO Box 3AW 104 Tottenham Court Road London W1A 3AW
25th May 2021 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................................. Stephen James Martin - Trustee
Page 4
## Independent Examiner 's Report to the Trustees of Life Eternal Trust (UK)
## **Independent examiner's report to the trustees of Life Eternal Trust (UK)**
I report to the charity trustees on my examination of the accounts of Life Eternal Trust (UK) (the Trust) for the year ended 31 July 2020.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of _ which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content 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 other 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.
Peter Upton FCA CTA Peter Upton Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR
Date: .............................................
Page 5
## Life Eternal Trust (UK)
Statement of Financial Activities for the Year Ended 31 July 2020
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Events and meetings
National Centre - Bloxham Barn Farm
Sheffield Centre
Italian Centre
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
188,545
1,885
190,430
106,347
62,319
(200)
-
168,466
21,964
1,171,932
1,193,896|Restricted
funds
£
100,188
-
100,188
-
12,708
-
28,115
40,823
59,365
666,764
726,129|31.7.20
Total
funds
£
288,733
1,885
290,618
106,347
75,027
(200)
28,115
209,289
81,329
1,838,696
1,920,025|31.7.19
Total
funds
£
338,942
189|
|---|---|---|---|---|
|||||339,131
145,943
59,771
9,909
86,417|
|||||302,040|
|||||37,091
1,801,605|
|||||1,838,696|
The notes form part of these financial statements
Page 6
## Life Eternal Trust (UK)
## Balance Sheet
31 July 2020
|Notes
**FIXED ASSETS**
Tangible assets
4
**CURRENT ASSETS**
Debtors
5
Cash at bank
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
7
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
1,514,029
62,690
110,736
173,426
(89,733)
83,693
1,597,722
(403,826)
1,193,896|Restricted
funds
£
631,398
-
94,731
94,731
-
94,731
726,129
-
726,129|31.7.20
Total
funds
£
2,145,427
62,690
205,467
268,157
(89,733)
178,424
2,323,851
(403,826)
1,920,025
1,193,896
726,129
1,920,025|31.7.19
Total
funds
£
2,137,011
50,694
169,338
220,032
(99,564)
120,468
2,257,479
(418,783)
1,838,696
1,171,932
666,764
1,838,696|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on .............................................25th May 2021 and were signed on its behalf by:
**.......** ......... **....................** ......... **........** ............................ TrusteeDr Sarah Loveday Setchell - Trustee
The notes form part of these financial statements
Page 7
## Life Eternal Trust (UK)
Notes to the Financial Statements for the Year Ended 31 July 2020
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Freehold buildings are not depreciated as the directors believe that the estimated residual value is not materially different to the carrying value of the buildings. The directors claim exemption under the SORP from the requirement that these assets are subject to an annual impairment review, but will carry out such a review when there is some indication that the recoverable amount of the asset falls below its net book value. Land is not depreciated.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Financial instruments**
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value.
continued...
Page 8
## Life Eternal Trust (UK)
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
## **2. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019 .
|**3.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
247,049
Other income
189
**Total**
247,238
**EXPENDITURE ON**
**Charitable activities**
Events and meetings
145,943
National Centre - Bloxham Barn Farm
54,295
Sheffield Centre
9,909
Italian Centre
-
**Total**
210,147
**NET INCOME**
37,091
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,134,841
**TOTAL FUNDS CARRIED FORWARD**
1,171,932|Restricted
funds
£
91,893
-
91,893
-
5,476
-
86,417
91,893
-
666,764
666,764|Total
funds
£
338,942
189|
|---|---|---|
|||339,131
145,943
59,771
9,909
86,417|
|||302,040|
|||37,091
1,801,605|
|||1,838,696|
continued...
Page 9
## Life Eternal Trust (UK)
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
## **4. TANGIBLE FIXED ASSETS**
|**COST**
At 1 August 2019
Additions
Disposals
At 31 July 2020
**DEPRECIATION**
At 1 August 2019
Charge for year
Eliminated on disposal
At 31 July 2020
**NET BOOK VALUE**
At 31 July 2020
At 31 July 2019|Freehold
property
£
2,345,693
-
-
2,345,693
214,000
-
-
214,000
2,131,693
2,131,693|Fixtures
and
fittings
£
16,612
12,143
(9,390)
19,365
11,294
3,727
(9,390)
5,631
13,734
5,318|Totals
£
2,362,305
12,143
(9,390)|
|---|---|---|---|
||||2,365,058|
||||225,294
3,727
(9,390)|
||||219,631|
||||2,145,427|
||||2,137,011|
The last independent professional valuation of the property was carried out in March 2010 and was considered to be in the region of £1,600,000. The directors consider that in the light of improvement expenditure and current market conditions, the market value at the year end is not significantly different from net book value, and there are no indications of further impairment.
## **5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **6.**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
||31.7.20|31.7.19|
||£|£|
|Other debtors|62,690|50,694|
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
||31.7.20|31.7.19|
||£|£|
|Bank loans and overdrafts (see note 8)|21,000|24,000|
|Trade creditors|23,459|21,774|
|Other creditors|45,274|53,790|
||89,733|99,564|
continued...
Page 10
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
## Life Eternal Trust (UK)
## **7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|||31.7.20|31.7.19|
|---|---|---|---|
|||£|£|
|Bank loans (see note|8)|403,826|418,783|
**The mortg** ageage isis fromfrom NationalNational WestminsterWestminsterBankBankplcplcforforaatermtermofof55yearsyearsandandwaswasre-negotiatedre-negotiatedininAugustAugust20182018andandis is beingbeing **repaid on a capita** ll **and inte** restrest **ba** sis.sis. **T** oo satisfysatisfy thethe Bank'sBank's requirementsrequirements,forsomethisofnewthemortgage,outbuildingssomehadofbeenthe outbuildingsexcluded from werethe excludedBank's mof **r** tgage security and were held temporarily by a third party. The buy-back agreement that was in placom the Bank's mortgage security and are being held temporarily by a third party. A buy-back agr **e** ementhas been executedis in place ea **n** suring that this arrangement does not compromise the value of the charity's assets.d the property is now owned in its entirety by the charity.
## **8. LOANS**
An analysis of the maturity of loans is given below:
|Amounts falling due within one year on demand:
Bank loans
Amounts falling due between two and five years:
Bank loans - 2-5 years|31.7.20
£
21,000
403,826|31.7.19
£
24,000|
|---|---|---|
|||418,783|
## **9. SECURED DEBTS**
The following secured debts are included within creditors:
||31.7.20|31.7.19|
|---|---|---|
||£|£|
|Bank loans|424,826|442,783|
The mortgage from NatWest is secured by a legal charge over Bloxham Barn Farm dated 19 July 2010.
## **10. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
**Farm** **mortga**ge initiative
Italian Centre
**TOTAL FUNDS**
ge and renovation initiatives|At 1.8.19
£
1,171,932
259,083
407,681
666,764
1,838,696|Net
movement
in funds
£
21,964
59,365
-
59,365
81,329|At
31.7.20
£
1,193,896
318,448
407,681|
|---|---|---|---|
||||726,129|
||||1,920,025|
continued...
Page 11
## Life Eternal Trust (UK)
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
**Farm**mortg**a**ge initiative
Italian Centre
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Farm mortgage initiative
Italian Centre
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
**Farm**mortg**a**ge in**i**tiative
Italian Centre
**TOTAL FUNDS**
renov tion nitiative
renov tion initiative|Incoming
resources
£
190,430
72,073
28,115
100,188
290,618
At 1.8.18
£
1,134,841
259,083
407,681
666,764
1,801,605
Incoming
resources
£
247,238
5,476
86,417
91,893
339,131|Resources
expended
£
(168,466)
(12,708)
(28,115)
(40,823)
(209,289)
Net
movement
in funds
£
37,091
-
-
-
37,091
Resources
expended
£
(210,147)
(5,476)
(86,417)
(91,893)
(302,040)|Movement
in funds
£
21,964
59,365
-
59,365
81,329
At
31.7.19
£
1,171,932
259,083
407,681|Movement
in funds
£
21,964
59,365
-
59,365
81,329
At
31.7.19
£
1,171,932
259,083
407,681|
|---|---|---|---|---|
||||666,764||
||||1,838,696||
||||Movement
in funds
£
37,091
-
-
-
37,091||
|||||-|
|||||37,091|
continued...
Page 12
## Life Eternal Trust (UK)
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 July 2020 or 31 July 2019.
## **12. ULTIMATE CONTROLLING PARTY**
The ultimate controlling party of the charity is the board of directors of the trustee company.
Page 13