**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.
Page 1
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.
Page 2
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
Page 3
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: .............................................
Page 4
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
Page 5
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
Page 6
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...
Page 7
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...
Page 8
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...
Page 9
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...
Page 10
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.
Page 11