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2021-01-31-accounts

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College

Charity No. 800412

Company No. 02294320

Trustees' Report and Unaudited Accounts

31 January 2021

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Contents

Pages
Trustees' Annual Report 2 to 5
Independent Examiners Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 to 18

Page 1

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Trustees Annual Report

Open Pathway Retreat Centre & Training College

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 January 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 02294320

Charity No. 800412

Principal Office

Laurel Lane Queen Camel Yeovil Somerset BA22 7NU

Registered Office

Laurel Lane Queen Camel Yeovil Somerset BA22 7NU

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

P.S. Beard M.A. Chappell N. Daniel D.F.Casley (Resigned 8 June 2020) M. Lovatt (Resigned 31 October 2020) Company Secretary D.F. Casley

Accountants

Charltons Accountancy Limited The Offices Middle Farm Charlton Horethorne Sherborne DT9 4NL

Bankers

Lloyds Bank Plc 9 High Street Yeovil BA20 1RN

Page 2

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Trustees Annual Report

Independent Examiner

Debbie Risborough (FCCA) Cornwall Community Accountancy Service The Elms, 61 Green Lane

Redruth Cornwall TR15 1LS

OBJECTIVES AND ACTIVITIES

The purpose of the charity as set out in its governing document is 'the advancement of health'. The trustees define this as being to serve the public good by promoting the study and practice of the art and science of meditation and natural healing.

The main activities undertaken in relation to those purposes are as follows:

  1. Kriya Meditation & Peace Meditation - By learning meditation techniques & practices individuals benefit from physical, emotional, mental & spiritual wellbeing. This wellbeing helps them in their interaction with others, making that interaction a positive one. Therefore not only those practising meditation benefit but, like ripples in a pool that benefit spreads out to society in general.

  2. Natural Energy Therapy/ Progressive Counselling/ Transformation Hatha Yoga and other therapies and self-help courses - These also help people to transform and empower their lives in a very positive sense, once again positively affecting society in general.

  3. Retreats - By spending from a hour to a day to a week or more, to reflect & unwind within the Charity's environs, including its gardens and therapy pool, to imbibe in the peaceful surroundings of the Centre, people leave refreshed, relaxed and inspired.

  4. Bursaries - A direct financial help to those with limited income to benefit from the facilities and courses the Charity has to offer.

There are various volunteer contributions including: Regular volunteers which vary but generally consist of 1 person on reception and 1 or 2 general helpers. Occasional volunteers may vary as these are used for specific projects, e.g. maintenance. There may also be 1 or 2 temporary community members/training posts.

ACHIEVEMENTS AND PERFORMANCE

The charity continues to streamline existing operations so that practical aspects are more time, energy and labour efficient, whilst also being more accurate and complete. The process of further training of paid and volunteer staff continues each year, so that senior members can act in a more supervisory role and use their time more creatively and expansively and focus more on the in depth spiritual work. There is still more demand for this work. The charity is committed to training, both within the Centre and for the many who wish to take this ethos into their own lives. Empowering others in all ways is central to the charity's objectives. As a professional training school, the charity continues to train Natural Energy Therapists, Progressive Counsellors and Transformation Hatha Yoga teachers. The teacher training programme also includes Meditation Foundation, Holistic Energy Care, Animal Energy Therapy and specialist Hatha Yoga certificate courses. The Centre's Course Programme continues to reflect new courses.

Page 3

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Trustees Annual Report

The Centre's membership role for Natural Energy Therapists, Progressive Counsellors and Transformation Hatha yoga teachers under the title of Open Pathway Associates continues to bring more and more important work with it. Not only do Associates receive support (practical, spiritual and by receiving updates and new information important to their perspective roles) access to a referral list and insurance as benefits of membership, they also benefit from the work the Centre members do at exhibitions and with regulatory and advisory bodies. Associates have no 'voting' rights in the running of the Centre. The Centre's clinic continues to serve patients for both Natural Energy Therapy and Progressive Counselling. As a Retreat Centre, the Centre continues to accommodate people in need.

FINANCIAL REVIEW

The trustees consider the financial performance by the charity during the year to have been satisfactory given the challenges faced. The present level of funding is adequate to support both the continuation of the charity's work and its financial commitments. Although funds have diminished this year, the Trustees consider the financial position of the charity to be satisfactory. During the 2021 financial year the charity has faced the unprecedented challenge of the Covid-19 pandemic, the pandemic has had a significant impact on the charity, reducing income streams leading to a further drop in funds despite the charity working hard to control costs. The charity has also incurred costs in respect of restructuring and regulatory work again this year and further costs are anticipated.

Due to the current situation in the financial markets the Charity's investment policy is one of flexibility and funds continue to be held in a number of accounts to reduce risk. The Charity feels it is important that investments should be as risk free as possible.

The principal funding source for the Charity is accommodation (including Self Catering and Personal Retreats) and course fees. Fees for Natural Energy Therapy, Progressive Counselling and use of Therapy Pool also contribute. Donations are encouraged, particularly by regular direct debit, which helps to fund Bursaries for those in need. Large donations require the person donating to seek legal advice first.

It is the policy of this charity to hold 3 months running costs in reserve to cover unforeseen emergencies, and to fund any shortfall in income resulting from recent restructuring and the economic effects of Covid-19. The level of reserves currently required is £45,000, to be reviewed quarterly at trustee meetings. Reserves held at the year-end were £1,599,592 although if fixed assets are excluded from this figure there is a deficit of £8,847. This policy is periodically reviewed to ensure this level is adequate.

PLANS FOR FUTURE PERIODS

The Centre will continue to adapt to meet the changing needs of those it serves. The focus will always be on teaching Meditation. Although the Centre is going through a period of contraction in some avenues, and this may continue for some time with the economic effects of Covid-19, the Trustees feel confident that the teacher training programme will expand again, and that more outreach work can be done which will, in turn, provide even more demand for Meditation. The Charity will continue to train and support those who wish to take this way of living into their own lives. The Charity's involvement in accrediting organisations to help to set standards is continuing and the Charity will continue to meet and aim to exceed the standards of all accrediting organisations to which it belongs or seeks to belong.

The Charity will continue to streamline and refine its procedures and delegate the practical aspects where appropriate so that those members with specialist training can focus more on expanding the spiritual work to meet the ever growing demand.

Page 4

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Trustees Annual Report

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is constituted as a company limited by guarantee registered under the Companies Act incorporated on 8 September 1988 (change of name to The Self Realization Healing Centre Charitable Trust on 22 December 1992) and registered as a charity on 1 February 1989 (Change of name to Self-Realization Meditation Healing Centre on 13 March 1999 and change of name to current on 19 September 2018) governed by its Memorandum and Articles of Association. In the event of the company being wound up, directors are required to contribute an amount not exceeding £1.

The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation. There are no restrictions in the governing documents on the operation of the charity or on its investment powers other than those imposed by Charity Law. By operation of law, all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation. The trustees are all individuals.

All directors of the company are also trustees of the charity, and there are no other trustees. The board has the power to appoint additional trustees as it considers fit. As positions become available, or as the board sees fit, it seeks to appoint trustees with an understanding of the nature, depth and scope of the work of the charity and those who can bring to its management their own particular skills, experience and outlook to encourage continual expansion of thought and direction.

New trustees would normally already be familiar with the work of the charity. Through copies of past minutes, they gain a deeper understanding of the background work involved in the management and day to day running of the charity, further insight being given by our Trustee/Company Secretary who is part of the Senior Management Team. As the work of the Charity expands and new systems come into operation, all trustees are kept informed by relevant departmental reports at the quarterly meeting. Trustees are encouraged to spend time at the Centre to view and experience at first hand any changes taking place and to become familiar with key members of staff.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Charity Commission issued a warning on 23rd October 2020 regarding various governance issues and the trustees continue to follow legal advice to ensure the Charity Commission requirements are met. This is reflected in the high level of legal fees incurred in the current year. The agreement reached was for the requirements of the Charity Commission to be met by the end of October 2021.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

N Daniel

Trustee

29 November 2021

Page 5

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Independent Examiners Report

Independent Examiner's Report to the trustees of Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College

I report on the accounts of the company for the year ended 31 January 2021, which are set out on pages 7 to 18.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (''the 2011 Act''). The trustees consider that an audit is not required for this year under section 144(2) of the 2011 Act and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all of the evidence that would be required for an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connections with my examination, no matter has come to my attention:

Debbie Risborough

Chartered Certified Accountant Cornwall Community Accountancy Service

The Elms 61 Green Lane

Redruth Cornwall TR15 1LS 29 November 2021

Page 6

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Statement of Financial Activities

for the year ended 31 January 2021

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Investments
6
Other
7
Total
Expenditure on:
Charitable activities
8
Other
9
Total
Net gains on investments
Net expenditure
10
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
5,025
72,002
85
32,436		 Total funds
2021
£
5,025
72,002
85
32,436		 Total funds
2020
£
18,322
110,342
270
33,851
109,548
31,803
133,262		 109,548
31,803
133,262		 162,785
59,106
176,728
165,065
-		 165,065
-		 235,834
-
(55,517)
-		 (55,517)
-		 (73,049)
-
(55,517) (55,517) (73,049)
(55,517)
1,655,109		 (55,517)
1,655,109		 (73,049)
1,728,158
1,599,592 1,599,592 1,655,109

The statement of financial activities includes all gains and losses recognised in the year.

Page 7

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Balance Sheet

at 31 January 2021

Company No.
02294320
Notes
2021
£
Fixed assets
Tangible assets
12
1,608,439
1,608,439
Current assets
Stocks
13
790
Debtors
14
1,577
Cash at bank and in hand
63,752
66,119
Creditors:Amount falling due within one year
15
(31,633)
Net current assets
34,486
Total assets less current liabilities
1,642,925
Creditors:Amounts falling due after more than one year
16
(43,333)
Net assets excluding pension asset or liability
1,599,592
Total net assets
1,599,592
The funds of the charity
Restricted funds
17
Unrestricted funds
17
General funds
1,599,592
1,599,592
Reserves
17
Total funds
1,599,592		 2020
£
1,621,279
1,621,279
1,896
2,349
45,269
49,514
(15,684)
33,830
1,655,109
-
1,655,109
1,655,109
1,655,109
1,655,109
1,655,109

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 January 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 26 November 2021

And signed on its behalf by:

N. Daniel Trustee

29 November 2021

Page 8

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

for the year ended 31 January 2021

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Functional currency

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Statement of cash flows

The charity is exempt from preparing a statement of cash flows on the grounds that it is a small charity.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Page 9

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Page 10

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold property 0.5% Straight line Plant and machinery 25% Reducing balance Motor vehicles 25% Reducing balance The Charity has a general policy of capitalisation of fixed assets if the value of the individual asset purchased exceeds £300. In rare circumstances the Charity may consider an item of value under £300 should be capitalised due to its nature.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 11

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 12

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Investments
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Donations
Legacies		 Unrestricted
£
5,025
5,025		 Unrestricted
funds
2020
£
18,322
144,193
270
162,785
59,106
176,728
235,834
(73,049)
(73,049)
(73,049)
1,728,158
1,655,109
Total
2021
£
5,025
-
5,025		 Total
funds
2020
£
18,322
144,193
270
162,785
59,106
176,728
235,834
(73,049)
(73,049)
(73,049)
1,728,158
1,655,109
Total
2020
£
15,319
3,003
18,322

Page 13

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

5 Income from charitable activities

Courses
Sales of publications
Miscellaneous fundraising
activity
Income from pool
memberships
Associate subscriptions and
activity
Accommodation relating to
yoga retreats
6
Income from investments
Interest receivable on bank
desposits
7
Other income
Coronavirus rates relief grant
Holiday accommodation		 Unrestricted
£
20,235
20
511
6,710
1,604
42,922
72,002
Unrestricted
£
85
85
Unrestricted
£
21,357
11,079
32,436		 Total
2021
£
20,235
20
511
6,710
1,604
42,922
72,002
Total
2021
£
85
85
Total
2021
£
21,357
11,079
32,436		 Total
2020
£
65,347
10,592
5,584
8,323
1,642
18,854
110,342
Total
2020
£
270
270
Total
2020
£
-
33,851
33,851

Page 14

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

8 Expenditure on charitable activities

Expenditure on charitable
activities
Food and consumables
Stock movement and write
offs
Bursaries
Cleaning and cooking
Sub-contract cook
Payments to associates
Governance costs
Independent examiners fees
Accountancy fees
9
Other expenditure
Other interest payable
Subcontract admin
Staff wages
CPD training
Payments to former
residents
Motor and travel costs
Premises costs
Depreciation and loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
10 Net expenditure before transfers
This is stated after charging:
Depreciation of owned fixed assets
Independent Examiner's fee		 Unrestricted
£
11,793
1,106
2,779
13,489
-
633
1,175
828
31,803
Unrestricted
£
-
5,508
1,609
1,025
-
1,670
49,081
12,840
20,628
40,901
133,262
2021
£
12,840
1,175		 Total
2021
£
11,793
1,106
2,779
13,489
-
633
1,175
828
31,803
Total
2021
£
-
5,508
1,609
1,025
-
1,670
49,081
12,840
20,628
40,901
133,262		 Total
2020
£
23,957
(1,301)
3,601
22,620
7,836
583
600
1,210
59,106
Total
2020
£
465
-
-
-
18,799
5,139
69,134
15,339
31,493
7,824
176,728
2020
£
14,266
600

Page 15

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

11 Staff Costs

Staff Costs
2021 2020
£ £
Gross Salary 1,609 -
Employer's NI - -
Staff Pension - -

No employee received emoluments in excess of £60,000.

The average monthly number of full time equivalent employees during the year was as follows:

Administration 2021
Number
3
3		 2020
Number
-
-

The charity operates a defined contribution pension scheme for employees. The scheme was set up on 1 February 2021. Contributions are payable into a NEST pension scheme.

12 Tangible fixed assets

Cost or revaluation
At 1 February 2020
At 31 January 2021
Depreciation and
impairment
At 1 February 2020
Depreciation charge for the
year
At 31 January 2021
Net book values
At 31 January 2021
At 31 January 2020
13 Stocks
Raw materials and consumables
Carrying value analysed by activities
Charitable activities		 Land and
buildings
£
1,752,122		 Plant and
machinery
£
125,987
125,987
117,436
2,139
119,575
6,412
8,551
2021
£
790
790
2021
£
790
790		 Motor
vehicles
£
24,138
24,138
16,379
1,940
18,319
5,819
7,759		 Total
£
1,902,247
1,752,122 1,902,247
147,153
8,761		 280,968
12,840
155,914 293,808
1,596,208 1,608,439
1,604,969 1,621,279
2020
£
1,896
1,896
2020
£
1,896
1,896

Page 16

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

14 Debtors
Trade debtors
15 Creditors:
amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Other taxes and social security
Other creditors
Accruals and deferred income		 14 Debtors
Trade debtors
15 Creditors:
amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Other taxes and social security
Other creditors
Accruals and deferred income		 2021
£
1,577
1,577
2021
£
6,667
10,409
214
11,669
2,674
31,633		 2020
£
2,349
2,349
2020
£
-
212
-
13,972
1,500
15,684
16 Creditors:
amounts falling due after more than one year
Bank loans and overdrafts		 2021
£
43,333
43,333		 2020
£
-
-
17 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
18 Analysis of net assets between funds
Fixed assets
Net current assets
Creditors due in more than one year and
provisions		 At 1
February
2020
1,655,109		 Incoming
resources
(including
other
gains/losses)
£
109,548
109,548		 Resources
expended
£
(165,065)
(165,065)
Unrestricted
funds
£
1,608,439
34,486
(43,333)
1,599,592		 At 31
January
2021
£
1,599,592
1,655,109 1,599,592
Total
£
1,608,439
34,486
(43,333)
1,599,592

Page 17

Self Realization Meditation Healing Centre T/A Open Pathway Retreat Centre & Training College Notes to the Accounts

19 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Bank loans
Net debt		 At 1 February
2020
£		 Cash flows
£		 At 31
January
2021
£
45,269 18,483 63,752
45,269
-
-
45,269		 18,483
(50,000)
(50,000)
(31,517)		 63,752
(50,000)
(50,000)
13,752

20 Related party disclosures Name of related party Daniel Francis Casley Description of relationship A Company Secretary and former Trustee between the parties Description of transaction The charity provided rent free and general amounts accommodation to Daniel Francis Casley, the involved Company Secretary and former Trustee. Living at the Centre was considered necessary for the performance of the Trustee’s unpaid duties to enable the charity to run effectively.

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 18