2022-07-31-accounts

REGISTERED CHARITY NUMBER: 292011

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2022

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 2022

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Notes to the Financial Statements	7	to	11
Detailed Statement of Financial Activities	12	to	13

Life Eternal Trust (UK)

Report of the Trustees for the Year Ended 31 July 2022

The directors of the trustee company present their report with the financial statements of the charity for the year ended 31 July 2022. 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 2019).

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

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.

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). Under Covid-19 restrictions physical meetings were not possible, and the Charity's volunteers developed a comprehensive substitute programme of online classes. With Covid-19 restrictions now removed, most of the in-person Sahaja Yoga public classes have re-started, although in addition some online classes are still being conducted. An incidental benefit of online classes, compared with physical "local" meetings, is the absence of a geographical constraint on who can attend. The Charity continues to develop its online methods to advertise Sahaja Yoga meetings and to establish and maintain contact with people interested in Sahaja Yoga.

The Charity has resumed its programme of regular and repeat attendance at exhibitions and festivals, now that Covid-19 restrictions have been removed. Organisers of these events have for many years welcomed the Charity's participation, providing as it does the beneficial effects of Sahaja Yoga meditation for their show visitors, and had given the Charity favourable terms to carry forward bookings made pre-pandemic. In particular the London Ideal Home Show (March 2023) was, as in previous years, one of the Charity's more successful public-facing events.

The Charity has secured, for the eleventh consecutive year, a "Google Adwords" grant for publicising the Charity's meditation meetings. The value of the grant is $120,000.

Further to obtaining the certificate of lawfulness for the Charity's use of its property at Bloxham Barn Farm, the Charity continues to make comprehensive building improvements. Local tradespeople are being engaged on various works and the Charity's volunteers are making a significant active contribution, thus saving costs. Works are funded by donations raised specifically for the purpose, to avoid financial impact on the Charity's other activities. As an example of the increasing use of the property that the Charity now enjoys, there will be a major international event in June 2023 at which the Charity will welcome to Bloxham Barn Farm more than 1,000 Sahaja Yoga practitioners, from the UK and over 25 other countries.

As a significant and symbolic example of international collaboration in advancing the common aims of the Charity and its sister organisation in Italy, the Charity's property in Cantalupo Ligure, Italy, acquired in June 2014, has been leased to Casa Madre Impresa Sociale Srl Ets (part of Fondazione Mondiale Shri Mataji Nirmala Devi Sahaja Yoga based in Cabella Ligure, Italy). Under the terms of a full repairing and insuring lease agreement, with peppercorn rent, entered into on 3rd April 2023, Casa Madre assumes responsibility for all expenditures related to the property and for compliance with all Italian national and regional requirements. It is considered that, under the management of Casa Madre, use of the property will continue to fulfil the aims and objectives of the Charity, to an even greater degree than hitherto.

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 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.

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Life Eternal Trust (UK)

for the Year Ended 31 July 2022

Report of the Trustees

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.

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 2022 reserves totalled £.2,142,651(2021 - £2,060,610), of which £922,036is restricted. Unrestricted reserves of £1,220,615 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 £252,401 (2021 - £263,379). During the year, direct charitable expenditure was £170,360 (2021 - £122,794).

Net incoming resources for the year amounted to £82,041 (2021- £140,585). There is an accumulated balance on unrestricted funds of £1,220,615 as at 31 July 2022 (2021 - £1,231,065) and restricted funds totalled £922,036 (2021 - £829,545).

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. Online classes, developed as a result of Covid-19 restrictions, will continue to be offered although on a limited scale. 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. 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 the trustee company.

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.

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Life Eternal Trust (UK)

Report of the Trustees for the Year Ended 31 July 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 292011

Principal address 14 Essex Road Enfield EN2 6TZ

Trustees

Directors of the trustee company Alison Bauzys Sheng-Chia Chung John James Glover Geoffrey Godfrey Victoria Raie Halperin Raymond Philip Harris Alan Henderson (resigned 15.03.2023) Stephen James Martin 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

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 26th May 2023

................................................................................ Stephen James Martin - Trustee

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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 2022.

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 member of the Institute of Chartered Accountants in England and Wales, 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: .............................................

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Life Eternal Trust (UK)

Statement of Financial Activities for the Year Ended 31 July 2022

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 Transfers between funds 10 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 171,669 322 171,991 122,674 30,897 - - 153,571 18,420 (28,870) (10,450) 1,231,065 1,220,615	Restricted funds £ 74,286 6,124 80,410 - - - 16,789 16,789 63,621 28,870 92,491 829,545 922,036	31.7.22 Total funds £ 245,955 6,446 252,401 122,674 30,897 - 16,789 170,360 82,041 - 82,041 2,060,610 2,142,651	31.7.21 Total funds £ 263,361 18 263,379 73,723 32,458 (818) 17,431 122,794 140,585 - 140,585 1,920,025 2,060,610

The notes form part of these financial statements

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Life Eternal Trust (UK)

Balance Sheet

31 July 2022

31.7.22 Unrestricted Restricted Total fund funds funds Notes £ £ £ FIXED ASSETS Tangible assets 4 1,765,712 622,859 2,388,571 CURRENT ASSETS Debtors 5 56,517 - 56,517 Cash at bank 1 227,165 227,166 56,518 227,165 283,683 CREDITORS Amounts falling due within one year 6 (279,445) 72,012 (207,433) NET CURRENT ASSETS (222,927) 299,177 76,250 TOTAL ASSETS LESS CURRENT LIABILITIES 1,542,785 922,036 2,464,821 CREDITORS Amounts falling due after more than one year 7 (322,170) - (322,170) NET ASSETS 1,220,615 922,036 2,142,651 FUNDS 10 Unrestricted funds 1,220,615 Restricted funds 922,036 TOTAL FUNDS 2,142,651 The financial statements were approved by the Board of Trustees and authorised for issue on ......................................... signed on its behalf by: 26th May 2023	31.7.22 Total funds £ 2,388,571 56,517 227,166 283,683 (207,433) 76,250 2,464,821 (322,170) 2,142,651 1,220,615 922,036 2,142,651	31.7.21 Total funds £ 2,315,034 93,737 300,422 394,159 (271,781) 122,378 2,437,412 (376,802) 2,060,610 1,231,065 829,545 2,060,610 .... and were

............................................. Sarah Loveday Setchell - Trustee

The notes form part of these financial statements

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Life Eternal Trust (UK)

Notes to the Financial Statements for the Year Ended 31 July 2022

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.

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.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.

.

continued...

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Life Eternal Trust (UK)

Notes to the Financial Statements - continued for the Year Ended 31 July 2022

3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 155,224 Other income 16 Total 155,240 EXPENDITURE ON Charitable activities Events and meetings 73,723 National Centre - Bloxham Barn Farm 45,166 Sheffield Centre (818) Italian Centre - Total 118,071 NET INCOME 37,169 RECONCILIATION OF FUNDS Total funds brought forward 1,193,896 TOTAL FUNDS CARRIED FORWARD 1,231,065 4. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 August 2021 2,517,639 Additions 84,993 Disposals (9,271) At 31 July 2022 2,593,361 DEPRECIATION At 1 August 2021 214,000 Charge for year - Eliminated on disposal - At 31 July 2022 214,000 NET BOOK VALUE At 31 July 2022 2,379,361 At 31 July 2021 2,303,639		Restricted funds £ 108,137 2 108,139 - (12,708) - 17,431 4,723 103,416 726,129 829,545 Fixtures and fittings £ 21,117 1,845 (2,027) 20,935 9,722 4,030 (2,027) 11,725 9,210 11,395		Total funds £ 263,361 18 263,379 73,723 32,458 (818) 17,431 122,794 140,585 1,920,025 2,060,610 Totals £ 2,538,756 86,838 (11,298) 2,614,296 223,722 4,030 (2,027) 225,725 2,388,571 2,315,034

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.

continued...

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Life Eternal Trust (UK)

Notes to the Financial Statements - continued for the Year Ended 31 July 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.22 £ Other debtors 56,517 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.22 £ Bank loans and overdrafts (see note 8) 49,313 Other loans (see note 8) 25,000 Trade creditors 16,063 Other creditors 89,757 Accruals and deferred income 27,300 207,433 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.7.22 £ Bank loans (see note 8) 322,170 The mortgage is from National Westminster Bank plc for a term of 5 years and was re-negotiated in August being repaid on a capital and interest basis. 8. LOANS	31.7.21 £ 93,737 31.7.21 £ 21,000 55,000 48,448 80,130 67,203
	271,781
	31.7.21 £ 376,802
	2018 and

The mortgage is from National Westminster Bank plc for a term of 5 years and was re-negotiated in August 2018 and is being repaid on a capital and interest basis.

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand: Bank loans Interest free facilities loans Amounts falling due between two and five years: Bank loans - 2-5 years 9. SECURED DEBTS The following secured debts are included within creditors: Bank loans	31.7.22 £ 49,313 25,000 74,313 322,170 31.7.22 £ 371,483	31.7.21 £ 21,000 55,000
		76,000
		376,802
		31.7.21 £ 397,802

The mortgage from NatWest is secured by a legal charge over Bloxham Barn Farm dated 19 July 2010.

continued...

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Life Eternal Trust (UK)

Notes to the Financial Statements - continued for the Year Ended 31 July 2022

10. MOVEMENT IN FUNDS

At 1.8.21 £ Unrestricted funds General fund 1,231,065 Restricted funds London Centre - Farm mortgage initiative 259,083 Italian Centre 398,411 Farm Improvements Project 172,051 829,545 TOTAL FUNDS 2,060,610 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds London Centre Farm mortgage initiative Italian Centre TOTAL FUNDS Comparatives for movement in funds At 1.8.20 £ Unrestricted funds General fund 1,193,896 Restricted funds Farm mortgage initiative 259,083 Italian Centre 407,681 Farm Improvements Project 59,365 726,129 TOTAL FUNDS 1,920,025	Net movement in funds £ 18,420 12 63,610 (1) - 63,621 82,041 Incoming resources £ 171,991 12 63,610 16,788 80,410 252,401 Net movement in funds £ 37,169 112,686 (9,270) - 103,416 140,585		Transfers between funds £ (28,870) 28,870 - - - 28,870 - Resources expended £ (153,571) - - (16,789) (16,789) (170,360) Transfers between funds £ - (112,686) - 112,686 - -	At 31.7.22 £ 1,220,615 28,882 322,693 398,410 172,051 922,036 2,142,651 Movement in funds £ 18,420 12 63,610 (1) 63,621 82,041 At 31.7.21 £ 1,231,065 259,083 398,411 172,051 829,545 2,060,610

continued...

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Life Eternal Trust (UK)

Notes to the Financial Statements - continued for the Year Ended 31 July 2022

10. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Farm mortgage initiative Italian Centre TOTAL FUNDS	Incoming resources £ 155,240 99,978 8,161 108,139 263,379	Resources Movement expended in funds £ £ (118,071) 37,169 12,708 112,686 (17,431) (9,270) (4,723) 103,416 (122,794) 140,585

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2022 or 31 July 2021.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the charity is the board of directors of the trustee company.

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