REGISTERED CHARITY NUMBER: 292011
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2024
for
Life Eternal Trust (UK)
Life Eternal Trust (UK)
| Contents of the Financial Statements | |||
|---|---|---|---|
| for the Year Ended 31 July 2024 | |||
| 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 2024
The directors of the trustee company present their report with the financial statements of the charity for the year ended 31 July 2024. 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). .Some online classes are provided (developed during Covid-19 restrictions), including the recent successful 21-day Meditation Program, but it is recognised that physical "local" meetings are a preferable means of communicating Sahaj Yoga knowledge and techniques. 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 continues its programme of regular and repeat attendance at exhibitions and festivals. 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 continue to give the charity favourable terms. In particular the London Ideal Home Show (March 2025) was, as in previous years, one of the charity's more successful public-facing events. Each year the charity offers several special One-Day Retreats at its National Centre at Bloxham Barn Farm to enable newcomers to deepen their experience of Sahaj Yoga. A series of public events has been established at mainline railway stations in London and other cities which has generated considerable interest amongst rail users. In 2024 a two-week tour took place bringing music and meditation sessions to the public in towns and cities across northern England.
The Charity has secured, for the twelfth consecutive year, a "Google Adwords" grant for publicising the Charity's meditation meetings. The value of the grant is $120,000.
The charity continues to make improvements to its Bloxham Barn Farm property, and a significant active contribution by the charity's volunteers helps to save costs. Major works are funded by donations raised specifically for the purpose, to avoid financial impact on the charity's other activities.
The charity's property in Cantalupo Ligure, Italy, acquired in June 2014, is now leased to Casa Madre Impresa Sociale Srl Ets (part of Fondazione Mondiale Shri Mataji Nirmala Devi Sahaja Yoga based in Cabella Ligure, Italy), who have assumed responsibility for all property expenditures for compliance with Italian national and regional requirements. Under the management of Casa Madre, use of the property continues to fulfil the aims and objectives of the charity, to an even greater degree than previously.
The charity has continued to provide funds for international education projects run by sister organisations in Italy and the Czech Republic. As in previous years, financial and volunteer support has been provided to carefully selected international projects devoted to spreading Sahaja Yoga in various parts of the world.
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)
Report of the Trustees
for the Year Ended 31 July 2024
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 2024 reserves totalled £.2,354,,837 (2023 - £2,309,677) of which £766,507 is restricted. Unrestricted reserves of £1,588,330 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 £339,265 (2023 - £483,191). During the year, direct charitable expenditure was £294,105 (2023 - £316,165).
Net incoming resources for the year amounted to £45,160 (2023 - £167,026). There is an accumulated balance on unrestricted funds of £1,588,330 as at 31 July 2024 (2023 - £1,296,112) and restricted funds totalled £766,507 (2023 - £1,013,565).
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.
Alongside this, the charity will continue to 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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
292011
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Life Eternal Trust (UK)
Report of the Trustees for the Year Ended 31 July 2024
Principal address 14 Essex Road Enfield EN2 6TZ
Trustees Directors of the trustee company Alison Bauzys Prasad Benjamin Beaven (appointed 25 April 2025) Sheng-Chia Chung John James Glover Geoffrey Godfrey Victoria Raie Halperin Raymond Philip Harris Stephen James Martin Philippa Newman (appointed 08 May 2025) Qasim Wazir Rashid (appointed 11 October 2024) Dr Zafar Iqbal Rashid Dr Sarah Loveday Setchell
Solicitors
Stone King LLP Boundary house 91 Charterhouse Street London EC1M 6HR
Independent Examiner Natasha Cassidy
Peter Upton Ltd Bridge House 2 Bridge Avenue Maidenhead Berkshire SL6 1RR
Bankers
National Westminster Bank Plc PO Box 3AW 104 Tottenham Court Road London W1A 3AW
Approved by order of the board of trustees on 17 May 2025 and signed on its behalf by:
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 2024.
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 Association of Chartered Certified Accountants, 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Natasha Cassidy
Date: .............................................
Page 4
Life Eternal Trust (UK)
Statement of Financial Activities
for the Year Ended 31 July 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other income Total EXPENDITURE ON Raising funds Charitable activities Events and meetings National Centre - Bloxham Barn Farm 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 £ 319,877 2,357 322,234 - 221,422 72,683 - 294,105 28,129 264,089 292,218 1,296,112 1,588,330 |
Restricted funds £ 16,765 266 17,031 - - - - - 17,031 (264,089) (247,058) 1,013,565 766,507 |
31.7.24 Total funds £ 336,642 2,623 339,265 - 221,422 72,683 - 294,105 45,160 - 45,160 2,309,677 2,354,837 |
31.7.23 Total funds £ 456,486 26,705 |
|---|---|---|---|---|
| 483,191 | ||||
| 20 224,486 73,701 17,958 |
||||
| 316,165 | ||||
| 167,026 - |
||||
| 167,026 2,142,651 |
||||
| 2,309,677 |
The notes form part of these financial statements
Page 5
Life Eternal Trust (UK)
Balance Sheet
31 July 2024
| 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 £ 1,903,219 58,511 144,909 203,420 (202,449) 971 1,904,190 (315,860) 1,588,330 |
Restricted funds £ 632,129 - 29,536 29,536 104,842 134,378 766,507 - 766,507 |
31.7.24 Total funds £ 2,535,348 58,511 174,445 232,956 (97,607) 135,349 2,670,697 (315,860) 2,354,837 1,588,330 766,507 2,354,837 |
31.7.23 Total funds £ 2,514,412 43,975 185,371 |
|---|---|---|---|---|
| 229,346 (89,732) |
||||
| 139,614 | ||||
| 2,654,026 (344,349) |
||||
| 2,309,677 | ||||
| 1,296,112 1,013,565 |
||||
| 2,309,677 |
The financial statements were approved by the Board of Trustees and authorised for issue on 17 May 2025 and were signed on its behalf by:
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 2024
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 2024 nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023..
.
continued...
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Life Eternal Trust (UK)
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other income Total EXPENDITURE ON Raising funds Charitable activities Events and meetings National Centre - Bloxham Barn Farm Italian Centre Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. TANGIBLE FIXED ASSETS COST At 1 August 2023 Additions At 31 July 2024 DEPRECIATION At 1 August 2023 Charge for year At 31 July 2024 NET BOOK VALUE At 31 July 2024 At 31 July 2023 |
Unrestricted fund £ 347,124 26,580 373,704 20 224,486 73,701 - 298,207 75,497 1,220,615 1,296,112 Freehold property £ 2,670,627 22,026 2,692,653 214,000 - 214,000 2,478,653 2,456,627 |
Restricted funds £ 109,362 125 109,487 - - - 17,958 17,958 91,529 922,036 1,013,565 Fixtures and fittings £ 74,220 15,339 89,559 16,435 16,429 32,864 56,695 57,785 |
Total funds £ 456,486 26,705 |
|||
|---|---|---|---|---|---|---|
| 483,191 | ||||||
| 20 224,486 73,701 17,958 |
||||||
| 316,165 | ||||||
| 167,026 2,142,651 |
||||||
| 2,309,677 | ||||||
| Totals £ 2,744,847 37,365 2,782,212 230,435 16,429 246,864 2,535,348 2,514,412 |
||||||
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 2024
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 8) Trade creditors Other creditors Accruals and deferred income 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 8) Other creditors |
31.7.24 £ 58,511 31.7.24 £ 28,000 9,565 17,827 42,215 97,607 31.7.24 £ 285,860 30,000 315,860 |
31.7.23 £ 43,975 31.7.23 £ 28,000 8,341 10,298 43,093 89,732 31.7.23 £ 314,349 30,000 |
|---|---|---|
| 344,349 |
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.
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 9. SECURED DEBTS The following secured debts are included within creditors: Bank loans |
31.7.24 £ 28,000 285,860 31.7.24 £ 313,860 |
31.7.23 £ 28,000 |
|---|---|---|
| 314,349 | ||
| 31.7.23 £ 342,349 |
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 2024
10. MOVEMENT IN FUNDS
| At 1.8.23 £ Unrestricted funds General fund 1,296,112 Restricted funds London Centre - Farm mortgage initiative 523,625 Italian Centre 427,720 Farm Improvements Project 62,220 1,013,565 TOTAL FUNDS 2,309,677 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Italian Centre Farm Improvements Project TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Farm mortgage initiative Italian Centre Farm Improvements Project TOTAL FUNDS |
|
|---|---|
continued...
Page 10
Life Eternal Trust (UK)
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Italian Centre Farm Improvements Project TOTAL FUNDS |
Incoming resources £ 373,704 47,267 62,220 109,487 483,191 |
Resources Movement expended in funds £ £ (298,207) 75,497 (17,958) 29,309 - 62,220 (17,958) 91,529 (316,165) 167,026 |
Resources Movement expended in funds £ £ (298,207) 75,497 (17,958) 29,309 - 62,220 (17,958) 91,529 (316,165) 167,026 |
|---|---|---|---|
| 91,529 | |||
| 167,026 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024 or 31 July 2023.
12. ULTIMATE CONTROLLING PARTY
The ultimate controlling party of the charity is the board of directors of the trustee company.
Page 11
Life Eternal Trust (UK)
Detailed Statement of Financial Activities for the Year Ended 31 July 2024
| Detailed Statement of Financial Activities for the Year Ended 31 July 2024 |
||
|---|---|---|
| 31.7.24 | 31.7.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 285,905 | 416,989 |
| Tax reclaimed from HMRC under Gift Aid | 50,737 | 39,497 |
| 336,642 | 456,486 | |
| Other income | ||
| Bank interest | 2,623 | 1,705 |
| Re-designation of loan | - | 25,000 |
| 2,623 | 26,705 | |
| Total incoming resources | 339,265 | 483,191 |
| EXPENDITURE | ||
| Other trading activities | ||
| Bad debts | - | 20 |
| Charitable activities | ||
| Rates and water | 9,002 | 7,915 |
| Insurance | 7,852 | 6,266 |
| Light and heat | 8,098 | 16,550 |
| Advertising | 9,795 | 7,507 |
| Sundries | 994 | - |
| Event and function costs | 155,338 | 138,512 |
| Motor and travel expenses | - | 949 |
| Repairs and maintenance | 11,158 | 30,980 |
| Books and publications | 2,818 | 4,033 |
| Office administration | - | 1,292 |
| Exchange rate adjustment | 175 | 21 |
| Courses | - | 1,764 |
| Storage | - | 148 |
| Skips, waste disposal | 1,844 | 1,479 |
| Adjustment to prior year | 11,851 | - |
| Fixtures and fittings | 16,429 | 5,928 |
| International project contributions | 14,933 | 50,234 |
| 250,287 | 273,578 | |
| Support costs | ||
| Management | ||
| Insurance | 24 | 179 |
| Printing, postage and stationery | 2,761 | 2,562 |
| Internet and website | 3,898 | 6,718 |
| 6,683 | 9,459 | |
| Finance | ||
| Bank charges | 1,763 | 1,692 |
| Mortgage interest | 33,411 | 29,354 |
| 35,174 | 31,046 |
This page does not form part of the statutory financial statements
Page 12
Life Eternal Trust (UK)
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 July 2024 | ||
| 31.7.24 | 31.7.23 | |
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Legal fees | 71 | 262 |
| Independent examiners fee | 1,890 | 1,800 |
| 1,961 | 2,062 | |
| Total resources expended | 294,105 | 316,165 |
| Net income | 45,160 | 167,026 |
This page does not form part of the statutory financial statements
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