**Charity Registration No. 326903** **THE MERIDIAN TRUST TRUSTEES REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDING 30 SEPTEMBER 2023** 2 ## **THE MERIDIAN TRUST** **TRUSTEES' REPORT For The Year Ended 30 September 2023** ## **CONTENTS** |**CONTENTS**|| |---|---| ||**Page**| |Legal and administrative information|3| |Trustees' Report|4 - 6| |Independent examiner's report|7| |Statement of financial activities|8| |Balance sheet|9| |Notes to the accounts|10 -13| 3 ## **THE MERIDIAN TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** Trustees Marie Beresford Greta Jensen Janet Millar Jane Moore resigned 14th February 2024 Tahlia Lin Acting Chair: Tahlia Lin Charity number: 326903 Principal address: The Thicket, Gare Hill, Near FROME BA11 5EY Somerset Independent Examiner Kathleen Moss ACMA, CGMA Kathleen Moss Ltd. 48 Lawn Terrace London SE3 9LP 4 ## **THE MERIDIAN TRUST** ## **TRUSTEES' REPORT** ## **For The Year Ended 30 September 2023** The Trustees of the Charity present their Annual Report and Accounts for the year ended 30 September 2023. ## **OBJECTIVES** The principal activity of The Meridian Trust is the preservation and dissemination of Buddhist thought and culture. Our goal is to be an online resource and hub through which the insights of Tibetan Buddhism are available to all. ## **CHARITABLE ACTIVITIES** ## **Film Production** This year brought a number of new filming opportunities. These included teachings by Ringu Tulku on Geshe Langri Thangpa's _Eight Verses of Training the Mind_ at Bodhicharya Kent; and _The Twelve Links of Interdependence_ and _Transforming Confusion into Clarity_ at Samye Dzong, London. We filmed Ven. Robina Courtin during her world tour when she gave three days of teachings in Frome, Somerset on _How to Develop Compassion for Oneself and Others_ . We also filmed the first set of teachings for a new three year course at Palpung Changchub Dargyeling in Wales created by HH Tai Situ called 'Discovering the Buddha Within'. ## **Collaboration with other Buddhist Organisations** We worked with Jamyang Buddhist Centre on our Wisdom of the Elders event as part of their first Jamyang Film Series. We invited Tulku Phara Khenchen Rinpoche to join us in person to talk about the life of his late teacher and Jamyang's first resident lama, Geshe Namgyal Wangchen. We showed clips from two films in our collection: _- My Life in Brief_ (Lam Rim Wales 1984) _**,**_ a video recording of a teaching given by Tulku-la's previous incarnation, Khensur Pema Gyaltsen Rinpoche. _- Spiritual Life in a Material World_ (Manjushri Centre, London 1982), a video recording of a teaching by Geshe Wangchen. We collaborated with CCN (The Contemplative Consciousness Network) and Colet House, London for a Buddhist Film Club, in person as well as on Zoom. Two of the films' directors joined us for a screening and Q&A. These included _Memories of Lost_ 5 ## **THE MERIDIAN TRUST** ## **TRUSTEES' REPORT (Continued) For The Year Ended 30 September 2023** _and Hidden Lands_ (Dir. Kris Polinski); _Man from a Missing Land_ (Dir. Paul Cohen); and _The Meaning of the Path of Dharma_ - Lama B. Alan Wallace. We were able to bring our historical content of restricted teachings by Chogyal Namkhai Norbu back online after clarification on the conditions for sharing content with practitioners of the Dharma. We were gifted materials from the former Institute of Buddhist Studies in Tring from the late Tibetologist and founder of the institute, Professor David Snellgrove. The collection includes documents, photographs and 8mm films. ## **Project Delivery - Bringing the Archive Home** To briefly recap, we worked closely with LTWA and they now hold a digital archive of much of the archive pre-2016. This includes the extraordinary footage of the great teachers who left Tibet in the 20[th] century. Due to flooding in Dharamsala, the original RAID was damaged. LTWA sent a new hard drive which has been filled with footage and taken to the library. ## **Translation Project** We launched our new project to translate teachings from our Lama Project collection into English and Chinese. A team has been put together, led by one of our trustees and Acting Chair, Tahlia Lin, who has been appointed Director of Translations. This year we have received advisory support from Geshe Namdak at Jamyang Buddhist Centre as the team begins to define the scope of the project over the coming years. ## **Film Footage Requests** As a film footage archive, we are sometimes approached with requests from commercial entities requesting the right to purchase film footage for their projects. This involves a lot of work on the part of The Meridian Trust to prepare contracts and deal with copyright issues arising on a case by case basis. Any monies raised commercially are used entirely within the charitable framework to fund our projects. In this financial year we still have payments pending for the use of some of our footage but no payments made between 1st October 2022 and 30th September 2023. 6 ## **THE MERIDIAN TRUST** **TRUSTEES' REPORT (Continued) For The Year Ended 30 September 2023** ## **New Staff** In May 2023, we said goodbye to our administrator of many years and welcomed a new administrator in her place. ## **Advisory Board** We welcomed a new advisor to the board, Professor Vesna Wallace, who brings a wealth of knowledge and experience to The Meridian Trust and who is an asset to our new Translations Project. ## **GOVERNANCE** The Trustees meet regularly with each other to develop policy and practice and to provide financial oversight. Regular meetings are held with team/staff, either collectively or individually to provide support and direction. ## **Financial Review** Incoming Resources for the year amounted to £42,038 (2022: ££49,051), the funds were unrestricted income funds. Expenditure in the year was £48,579 (2022: £46,874) all of which related to unrestricted income funds for both years. The deficit for the year was £6,541 (2022: surplus £2,176). On 30 September 2023 total funds amounted to £12,520 (2022: £19,061) all of which related to unrestricted income funds. This report was approved by the trustees on 27th May 2024 and signed on their behalf by Dr Janet Millar, Trustee 7 ## **Independent Examiner's Report** To the Trustees of The Meridian Trust I report on the accounts of The Meridian Trust for the year ended 30[th] September 2023, which are set out on pages 8 to 12. ## **Responsibilities and basis of report** As the charity's trustees, 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did 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. Kathleen Moss ACMA, CGMA Kathleen Moss Ltd 48 Lawn Terrace London SE3 9LP Date: 3[rd] June 2024 8 **THE MERIDIAN TRUST STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) For the year ended 30 September 2023** |**Notes**
**Unrestricted**
£
**Incoming resources from generated funds**
Voluntary income
**2**
42,038
Incoming resources from charitable activities
**3**
-
Other incoming resources
**4**
-
**Total incoming resources**
42,038
**Resources expended**
Cost of generating funds
**5**
-
Cost of charitable activities
**5**
48,579
**Total resources expended**
48,579
Net incoming resources before transfers
(6,541)
Transfers between funds
-
Total funds brought forward
19,061
**Total funds carried forward**
**12,520**|**Notes**
**Unrestricted**
£
**Incoming resources from generated funds**
Voluntary income
**2**
42,038
Incoming resources from charitable activities
**3**
-
Other incoming resources
**4**
-
**Total incoming resources**
42,038
**Resources expended**
Cost of generating funds
**5**
-
Cost of charitable activities
**5**
48,579
**Total resources expended**
48,579
Net incoming resources before transfers
(6,541)
Transfers between funds
-
Total funds brought forward
19,061
**Total funds carried forward**
**12,520**|**Restricted**
£
-
-
-|**Total 2023**
£
42,038
-
-
42,038
-
48,579
48,579
(6,541)
-
19,061
**12,520**|**_Unrestricted_**
_£_
_44,131_
_4,920_
_-_|**_Restricted_**
_£_
_-_
_-_
_-_|**_Total 2022_**
_£_
_44,131_
_4,920_
_-_| |---|---|---|---|---|---|---| ||42,038|-||_49,051_|_-_|_49,051_| ||-
48,579|-
-||_-_
_46,874_|_-_
_-_|_-_
_46,874_| ||48,579|-||_46,874_|_-_|_46,874_| ||(6,541)
-
19,061|-
-
-||_2,176_
_-_
_16,885_|_-_
_-_
_-_|_2,176_
_-_
_16,885_| ||**12,520**|**-**||**_19,061_**|**_-_**|**_19,061_**| 9 ## **THE MERIDIAN TRUST BALANCE SHEET As at 30 September 2023** |**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Stock
Debtors
**10**
Cash at bank and in hand
Creditors: amounts falling due within one year
**11**
Net current assets
**Total assets less current liabilities**
**Funds of the charity**
Restricted funds
**12**
Unrestricted funds
12|£
-
-
716|**2023**
£
12,654
(134)
**12,520**
-
12,520
**12,520**|_£_
_-_
_-_
_5,133_|**_2022_**
_£_
_14,928_
_4,133_| |---|---|---|---|---| ||716
(850)||_5,133_
_(1,000)_|| |||||| |||||_19,061_| |||||_-_
_19,061_| |||||_19,061_| The financial statements were approved by the Trustees on 27th May 2024 and signed on their behalf by **Dr Janet Millar** Trustee 10 ## **THE MERIDIAN TRUST NOTES TO THE ACCOUNTS (continued) For the year ended 30 September 2023** |**2.**
**Voluntary income**
**Unrestricted**
**£**
Donations
32,362
Legacies
-
Grants
9,676
42,038
Grants received:
Bodhichitta Trust
**3.**
**Incoming resources from charitable activities**
**Unrestricted**
£
Sales - films and filming services
-
**4.**
**Other incoming resources**
**Unrestricted**
£
-
**5.**
**Total resources expended**|**2.**
**Voluntary income**
**Unrestricted**
**£**
Donations
32,362
Legacies
-
Grants
9,676
42,038
Grants received:
Bodhichitta Trust
**3.**
**Incoming resources from charitable activities**
**Unrestricted**
£
Sales - films and filming services
-
**4.**
**Other incoming resources**
**Unrestricted**
£
-
**5.**
**Total resources expended**|**Restricted**
**£**
-
-
-|**Total 2023**
**£**
32,362
-
9,676
42,038
9,676
**Total 2023**
£
-
**Total 2023**
£
-|**_Unrestricted_**
**_£_**
_34,877_
_-_
_9,254_|**_Restricted_**
**_£_**
_-_
_-_
_-_|**_Total 2022_**
**_£_**
_34,877_
_-_
_9,254_| |---|---|---|---|---|---|---| ||42,038|-||_44,131_|_-_|_44,131_| |||**Restricted**
£
-||**_Unrestricted_**
_£_
_4,920_|**_Restricted_**
_£_
_-_|_9,254_
**_Total 2022_**
_£_
_4,920_| |||**Restricted**
£
-||**_Unrestricted_**
_£_
_-_|**_Restricted_**
_£_
_-_|**_Total 2022_**
_£_
_-_| |||||||| |**Costs of**
**generating**
**funds**
**2023**
Publicity and events
Direct
Film & Archive Management
Direct
Consultancy
Direct
Director's Fees
Staff time
Staff Salaries
Staff time
Insurance
Usage
Print Postage Stationery
Usage
Telephone
Usage
Computer Costs
Usage
Travel & Subsistence
Usage
Independent Examination
Governance
Miscellaneous Expenses
Usage
Bank charges and interest
Usage
Depreciation
Usage
**2023**
**_2022_**
**Restricted**
-
_-_
**Unrestricted**
48,579
_46,874_||**Charitable**|**Activities**||**Governance**


**£**
-
-
-
-
-
-
-
-
-
-
650
-
-
-|**Total**
**£**
-
3,571
-
18,270
19,700
62
56
324
1,597
869
650
447
758
2,274| |---|---|---|---|---|---|---| ||**£**
-
358
-
912
5,910
11
5
65
640
217
-
112
189
1,819
**Dissemination**
**& education**|**Project**
**development**
**&**
**management**
**£**
-
357
-
8,222
1,970
6
6
65
319
174
-
89
152
455

|**Open the**
**Vaults**
**£**
-
714
-
8,222
5,910
34
34
162
319
391
-
179
303
-|

**Film**
**production &**
**distribution**
**£**
-
2,142
-
914
5,910
11
11
32
319
87
-
67
114
-||| ||10,239|11,815|16,268|9,607|650|48,579| |||||||| 11 ## **THE MERIDIAN TRUST NOTES TO THE ACCOUNTS (continued) For the year ended 30 September 2023** |**_Prior year comparator: 2022_**
**_Costs of_**
**_generating_**
**_funds_**
_Publicity and events_
_Direct_
-
_Film Archive Management_
_Direct_
_Consultancy_
_Direct_
_Camera_
_Direct_
_Computer Costs_
_Usage_
_Travel & Subsistence_
_Usage_
_Staff Training & Welfare_
_Staff time_
_Accountancy_
_Governance_
_Independent Examination_
_Governance_
_Miscellaneous Expenses_
_Usage_
_Bank charges and interest_
_Usage_
_Depreciation_
_Usage_||**_Charitable_**|**_Activities_**||**_Governance_**
-
_-_
_-_
_-_
_-_
_-_
_-_
_515_
_800_
_-_
_-_
_-_|**_Total_**
**_£_**
-
_40,750_
_-_
_160_
_1,178_
_34_
_-_
_515_
_800_
_-_
_761_
_2,677_| |---|---|---|---|---|---|---| ||**_£_**
-
_4,075_
_-_
_-_
_470_
_9_
_-_
_-_
_-_
_191_
_2,142_
**_Dissemination_**
**_& education_**|**_Project_**
**_development_**
**_&_**
**_management_**
**_£_**
-
_4,075_
_-_
_-_
_236_
_7_
_-_
_-_
_-_
_152_
_535_
|**_Open the_**
**_Vaults_**
**_£_**
-
_8,150_
_-_
_-_
_236_
_15_
_-_
_-_
_-_
_304_
_-_|**_Film_**
**_production &_**
**_distribution_**
**_£_**
-
_24,450_
_-_
_160_
_236_
_3_
_-_
_-_
_-_
_114_
_-_||| ||_6,886_|_5,005_|_8,705_|_24,963_|_1,315_|_46,874_| **6. Surplus for the year** |The surplus for the year is after charging:
Depreciation
External scrutiny fees|**Unrestricted**
£
2,274
-|**Restricted**
£
-
-|**Total 2023**
£
2,274
-|**_Unrestricted_**
_£_
_2,677_
_800_|**_Restricted_**
**_Total 2022_**
_£_
_£_
_-_
_2,677_
_-_
_800_| |---|---|---|---|---|---| ## **7. Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year. **8. Employees** The number of employees during the year was Nil (2022: Nil). |**Employees**
The number of employees during the year was Nil (2022: Nil).||| |---|---|---| |Employment costs:
Wages and salaries
There were no employees earning over £60,000 per annum.|**2023**
£
-|**2022**
£
-| |||| **9. Tangible fixed assets** |**Tangible fixed assets**|||| |---|---|---|---| |**Cost**
At 1 October 2022
Additions
Disposals
At 30 September 2023
**Depreciation**
At 1 October 2022
Charge for the year
Disposals
At 30 September 2023
**Net book value**
At 30 September 2023
At 30 September 2022|**Film**
**equipment**
**& footage**
£
38,024
-
-|


**Office**
**furniture &**
**equipment**
£
17,669
-
-|**Total**
£
55,693
-
-| ||38,024|17,669|55,693| ||24,003
2,103
-|16,762
171
-|40,765
2,274
-| ||26,106|16,933|43,039| ||11,918|736|12,654| ||14,021|907|14,928| **10. Debtors** 12 **2023 2022** £ £ Sundry debtors - - 13 ## **THE MERIDIAN TRUST NOTES TO THE ACCOUNTS (continued) For the year ended 30 September 2023** **11. Creditors:** amounts falling due within one year |Trade Creditors
Accruals and other creditors|**2023**
£
-
850|**2022**
£
-
1,000| |---|---|---| ||850|1,000| ## **THE MERIDIAN TRUST** **NOTES TO THE ACCOUNTS (continued) For the year ended 30 September 2023** ## **12. Analysis of net assets between funds** |**Analysis of net assets between funds**
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year|**Unrestricted**
£
12,654
716
(850)|**Restricted**
£
-
-
-|**2023**
**Total**
£
12,654
716
(850)|**_Unrestricted_**
_£_
_14,928_
_5,133_
_(1,000)_|**_Restricted_**
_£_
_-_
_-_
_-_|**2022**
**_Total_**
_£_
_14,928_
_5,133_
_(1,000)_| |---|---|---|---|---|---|---| ||12,520|-|12,520|_19,061_|_-_|_19,061_| ## **12. Funds** The income funds of the charity include restricted and unrestricted funds comprising the following unexpended balances of donations and grants held on trust: |**Unrestricted funds:**
**General funds**
**Total funds**
**Restricted Funds - description**
_Prior year comparator: 2021_
_Unrestricted funds:_
_General funds_
_Total funds_|**At**
**01-Oct**
**2022**
**£**
**19,061**|**Incoming**
**£**
42,038|**Outgoing**
**£**
( 48,579)|**Transfer**
**between**
**funds**
**At**
**30-Sep**
**2023**
**£**
**£**
**-**
**12,520**|**Transfer**
**between**
**funds**
**At**
**30-Sep**
**2023**
**£**
**£**
**-**
**12,520**| |---|---|---|---|---|---| ||**19,061**|**42,038**|**( 48,579)**|**-**
**12,520**|| ||_At_
_01-Oct_
_2021_
_£_
_16,885_|_Incoming_
_£_
_49,051_|_Outgoing_
_Transfer_
_between_
_funds_
_At_
_30-Sep_
_2022_
_£_
_£_
_£_
_( 46,874) 0_
_- 0_
_19,061_||| ||_16,885_|_49,051_|_( 46,874)_|_-_|_19,061_| ## **13. Taxation** The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010. ## **14. Related parties** Aggregate donations made by Trustees for general purposes amounted to £360 £320 (2022: £380). There are no other donations from related parties. No donations are outside the normal course of business and no restricted donations are from related parties. ## **15. Contingent assets or liabilities** There are no contingent assets or liabilities at September 2023 (2022:Nil).