Company number 00678027 

## **SUBUD BRITAIN** 

## **AUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

Waugh & Co Licensed Accountants 51 High Street, Arundel, West Sussex BN18 9AJ UK waughaccountants.co.uk - 01903 88 55 06 



**SUBUD BRITAIN FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **INDEX** 

||**Page**|
|---|---|
|Trustees and Directors Annual Report|1 - 5|
|Report of the Auditors|6 - 7|
|Statement of Financial Activities and Income and Expenditure|8|
|Statement of Financial Position (Balance Sheet)|9|
|Statement of Cash Flows|10|
|Notes to the Accounts|11 - 21|





## **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025** 

The trustees and directors present their annual report with the accounts of the charity for the year ended 31 December 2025. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

The name of the charity is Subud Britain. Charity registration number 233282. Scottish charity registration number SC039009 Company registration number 678027, registered in England. Registered office: 51 High Street, Arundel, West Sussex BN18 9AJ 

## **TRUSTEES AND OFFICERS** 

The Trustees in office in the year and in the period to the date of the approval of the accounts were: 

|Chair|Peter Hull||
|---|---|---|
|Regional chairs|||
|South East|Myrna Jones|appointed 26.4.26|
|East Anglia|Rashid Rogers|appointed 1.6.25|
|South West|Lucianne Lassalle||
|Thames Valley|Vacant||
|Scotland & NE England|Vacant||
|North|John Sheard|resigned 25.4.26|
|London|Hubert Rogers|resigned 1.6.25|
|Non-regional trustee|Hardin Tibbs|resigned 30.1.25|
|The Trustees comprise the National Council Chair and the Regional Chairs. All Trustees are members of N|||
|Council and are also the Directors of the company.|||
|The National Executive officers during the year and in the period to the||date of the approval of the acco|
|National Secretary and Helper Secretary|Lorna Dowson-Colins|appointed 30.6.25|
|National Treasurer|Aleena Flanders||
|Other officers during the year were:|||
|Committee Councillor|Stephen Gonsalves||
|Archivist|Solihin Garrard|resigned 31.8.24|
|Archivist|Vacancy||
|Health and Safety officer|John Sheard||
|HR Manager|Vacant||
|Insurance Manager|Edward Baker||
|**BANKERS**|CAF Bank Ltd||
||25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ||
|**AUDITORS**|Westcotts (SW) LLP||
||Timberly, South Street, Axminster, Devon, EX13 5AD||
|**ACCOUNTANTS**|Waugh & Co Licensed Accountants||
||51 High Street, Arundel, West Sussex BN18 9AJ||



The Trustees comprise the National Council Chair and the Regional Chairs. All Trustees are members of National Council and are also the Directors of the company. 

The National Executive officers during the year and in the period to the date of the approval of the accounts were: 

1 



## **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The governing documents of the charity are the Memorandum and Articles of Association and the Regulations. The charity is constituted as a limited company, limited by guarantee. 

Subud Britain is made up of seven Regions and thirty Groups. Each Group has a committee of a chairman, a secretary and a treasurer. The Group Chairs in a Region form the Regional Council, together with the Regional Chair. The Regional Chairs and the National Chair are the Trustees and Directors of Subud Britain and form the National Council together with the Executive, the Wings and the National Dewan. 

The legal Members of Subud Britain are the Group Chairs and the Trustees. They have voting powers at the annual Congress. Each Group is made up of the general members in the area of the Group. 

There is an Executive to look after the day to day administration. 

The Regional Chairs / Trustees are appointed by each Region. Any Subud member in the Region is eligible. The National Chair is appointed at the annual Congress. Any Subud member of Subud Britain is eligible for this position. New Trustees are given the Charity Commission booklet on the responsibilities of charity trustees. Members of the Executive assist the trustees with the experience and expertise gathered by Subud Britain on charity and company administration. 

Where specific detailed legal advice is needed, Subud Britain uses a charity specialist firm of solicitors. Subud is an international organisation. There are nine Zones covering the world. Subud Britain is a member of Zone 3, which is broadly Western Europe. The National Chair of each country in a Zone is a member of the Zonal Council. The chairs of the Zones are called Zonal representatives and they form the World Subud Council with the Chair of the World Subud Association. 

Subud Britain is connected through its members with Susila Dharma Britain (SDB), a separate charity which works to relieve poverty and sickness and to advance education and other charitable purposes for the benefit of the community in general. SDB does this by supporting, encouraging and monitoring humanitarian and social projects initiated by Subud members living in those communities. 

Subud Britain has a wholly owned subsidiary company, The Amadeus Centre Limited, which manages, promotes and rents The Amadeus Centre, the Subud Centre in Central London. 

The major risks to which the charity is exposed, as identified by the Trustees, have been reviewed, and procedures have been established to manage those risks. 

## **Administration and compliance** 

The Charity Commission concluded a review in 2017 and agreed that Subud Britain met the criteria for retaining our charitable status.  Changes to our Articles of Association in line with the Charity Commission’s recommendations were agreed by our Trustees/Directors and were approved at the AGM in 2018. They are reflected in the ‘Objects’ set out later in this document. 

2 



## **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **OBJECTIVES AND ACTIVITIES** 

## **Objects** 

The main object of Subud Britain is the advancement of religion by the promotion and advancement of the aim and principles of the worship of God known as Susila Budhi Dharma as expressed in the Declaration set out in Clause 2 of the Articles of Association. 

## **Aims** 

Subud Britain has endorsed the aims of the World Subud Association. The main aims are: 

- To facilitate the worship of Almighty God through the Latihan Kejiwaan of Subud and to provide for the other needs of the Subud membership. 

- To preserve the practice of the Latihan Kejiwaan so that it will remain available to people everywhere in the form in which it was originally practised under the guidance of Muhammad Subuh Sumohadiwidjojo (known as Bapak). 

- To protect the good reputation of Subud. 

- To encourage peace, harmony and understanding between peoples regardless of their ethnic origin or religion. 

- To make available information concerning the Latihan Kejiwaan of Subud. 

## **Activities during the year** 

When planning our activities for the year the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. 

The principal activities during the year were: 

· The provision and maintenance of latihan (worship) facilities for groups and members throughout the country. 

· Helper (pastoral) care and support of our members in their practice of the latihan.  To support this work  two Helper Weekends have been held which were open to all Subud helpers to attend in order to deepen their experience of the latihan (worship) and develop their capacity to be able to assist members.  A Helpers' Secretary assists the helpers in their work.  We have email links to all our active Helpers. 

· The provision and maintenance of our Subud Britain website providing information and access to Subud for the general public as well as information for our membership. 

· The monthly publication of 'The Journal' which provides information and a forum for sharing for our members as well as extracts from the talks and guidance of Bapak.  This is now available to all members free online as well as printed editions distributed to members and groups. There is a printed Digest sent to subscribers bi-monthly 6 times a year. 

· On behalf of SPI (Subud Publications International), members in this country assisted in the translation, manufacture and distribution of Bapak's talks via books, CDs and DVDs. 

· Our long-time Archivist, Solihin Garrard, retired for health reasons in August 2024. We thank Solihin for his many years unstinting service and pass on the membership's well-wishes. 

We are currently putting together a job specification for a joint SB/WSA archivist to take over the Subud Britain Archives, which aim to collect and preserve the history of the development of Subud for future generations. 

3 



## **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **Volunteers** 

All the charitable activities of Subud Britain are carried out by volunteers. These include: the organisational committees at Group, Regional and National levels; the corresponding helper groups at each level; Subud Enterprises Services; Subud Youth Association; Subud International Cultural Association; Subud Families Association; Subud International Health Association; Congress. 

## **FINANCIAL REVIEW** 

Each Group and Region set a budget for the year. The National budget for 2025 was set at the 2024 Congress. The 2025 National management accounts, which do not include Group or Regional accounts, showed a deficit of £49,634 (2024 a deficit of £776) against a budget surplus of £nil (2024 £nil). 

Property purchases or disposals: Reigate Hall was sold in June 2025 for £418,332. The original cost was £13,862. The Statement of Financial Activities and Income and Expenditure shows an overall net surplus for the year of £316,952 (2024 a deficit of £367,463). Without the surplus generated by the sale of Reigate Hall of £405,582 there would have been a deficit of £88,630. 

The bank balance position of Subud Britain as a whole remains strong. The bank balances held by the Groups amounted to £376,753 (2024 £381,808), the Regions £16,416 (2024 £22,247) and at National level, which include Restricted and Designated funds balances of £451,272 (2024  £116,452). 

The overall total of bank balances was £844,441 (2024 £520,508). 

## **Reserves policy** 

Free cash reserves held at Group, Regional and National levels are all maintained at three months average expenditure. When computing free cash Groups who occupy Subud Britain-owned property, may from time to time set aside funds for planned major repairs or renovation. Free cash reserves at 31 December 2025 were £371,170 (2024 £288,662). 

## **Funding sources** 

Principal funding sources continue to be donations from Subud members and the letting out of Subud owned properties during times when they are not being used by Subud. 

Donations made under Gift Aid by tax paying members benefit the charity with an extra £25 tax refund for every £100 donated. Gift Aided donations from members in the year totalled £88,568 (2024 £85,826) plus a tax refund claimed of £18,923. Legacies were £3,708. 

Other donations from individuals totalled £55,203 (2024 £146,677). 

The total license fee received from The Amadeus Centre Limited was £28,500 (2024 £24,750). 

4 



## **SUBUD BRITAIN TRUSTEES AND DIRECTORS ANNUAL REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **DIRECTORS' RESPONSIBILITIES** 

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company for that period. In preparing these financial statements, the directors are required to: 

- select suitable accounting policies and then apply them consistently; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. 

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

## In so far as the directors are aware: 

- there is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are not aware, and 

- the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. 

## **AUDITORS** 

The Auditors, Westcotts (SW) LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting in accordance with article 8A(vi)(c) of Subud Britain's articles of association. 

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. 

Signed on behalf of the board of directors 

Peter Hull Trustee & Chair 

Approved by the Board of Directors: Dated 22 July 2026 

5 



## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES AND MEMBERS OF SUBUD BRITAIN FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **Opinion** 

We have audited the financial statements of Subud Britain (the 'charity') for the year ended 31 December 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- Give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the trustees' report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006, the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

6 



## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES AND MEMBERS OF SUBUD BRITAIN CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **Responsibilities of trustees** 

As explained more fully in the directors responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditor's responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. 

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the trustees and management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit. 

The charity is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other charity and companies legislation.  The charity is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including but not limited to, employment, anti-bribery and anti-money laundering. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards.  In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.  We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. 


Stuart Carrington FCA (Senior Statutory Auditor) 

For and on behalf of Westcotts (SW) LLP Timberly, South Street Axminster, Devon EX13 5AD 

Dated: 23-Jul-2026 

7 



## **SUBUD BRITAIN** 

## **STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE** 

## **FOR THE YEAR ENDED 31 DECEMBER 2025** 

|Note<br>**INCOME AND ENDOWMENTS**<br>Incoming resources from generated funds<br>Donations and legacies<br>Other trading activities<br>Investment income<br>Incoming resources from charitable activities<br>Total incoming resources<br>3<br>**EXPENDITURE**<br>Charitable activities<br>4<br>Total resources expended<br>Net incoming resources before transfers<br>**TRANSFERS**<br>Gross transfer between funds<br>9<br>**NET INCOME (EXPENDITURE) FOR THE YEAR**<br>**OTHER RECOGNISED GAINS**<br>Gains (losses) on investment assets<br>**NET MOVEMENT IN FUNDS**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>Total funds carried forward<br>18|Unrestricted<br>Funds<br>215,137<br>11,187<br>812,899<br>1,039,223<br>696,251<br>696,251<br>342,972<br>(1,397)<br>341,575<br>569<br>342,144<br>1,549,610<br>1,891,754|Restricted<br>Funds<br>-<br>9<br>9<br>26,598<br>26,598<br>(26,589)<br>1,397<br>(25,192)<br>-<br>(25,192)<br>1,454,615<br>1,429,423|Total Funds<br>2025<br>215,137<br>-<br>11,187<br>812,908<br>1,039,232<br>722,849<br>722,849<br>316,383<br>-<br>316,383<br>569<br>316,952<br>3,004,225<br>3,321,177|Total Funds<br>2024<br>270,725<br>-<br>10,266<br>325,287|
|---|---|---|---|---|
|||||606,278<br>973,741|
|||||973,741|
|||||(367,463)<br>-|
|||||(367,463)<br>-|
|||||(367,463)<br>3,371,688|
|||||3,004,225|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

8 



## **SUBUD BRITAIN** 

## **STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025** 

**(Previously known as Balance Sheet)** 

|Note<br>**FIXED ASSETS**<br>Tangible assets<br>10<br>Investments<br>11<br>**CURRENT ASSETS**<br>Debtors<br>13<br>Cash at bank and in hand<br>14<br>**CREDITORS: amounts falling due**<br>**within one year**<br>15<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**CREDITORS: amounts falling due**<br>**after more than one year**<br>15<br>**NET ASSETS**<br>**THE FUNDS OF THE CHARITY**<br>Unrestricted income funds<br>Restricted income funds<br>18<br>Signed on behalf of<br>the Board of Directors|2025<br>2,485,294<br>16,466<br>2,501,760<br>11,319<br>844,441<br>855,760<br>(13,935)<br>841,825<br>3,343,585<br>(22,408)<br>3,321,177<br>1,891,754<br>1,429,423<br>3,321,177|2024<br>2,524,577<br>15,896|
|---|---|---|
|||2,540,473<br>800<br>520,508|
|||521,308<br>(33,437)|
|||487,871<br>3,028,344<br>(24,119)|
|||3,004,225|
|||1,549,610<br>1,454,615|
|||3,004,225|
||||



Peter Hull Trustee & Chair Approved by the board of directors on: 

22 July 2026 

9 



**SUBUD BRITAIN STATEMENT OF CASH FLOWS** 

## **FOR THE YEAR ENDED 31 DECEMBER 2025** 

|**Cash flows from operating activities**<br>Net cash income/(expenditure)<br>**Adjustments to cash flows from non-cash items**<br>Depreciation<br>Gain/(loss) on disposal of property, plant and equipment<br>Dividends received<br>(Gain)/loss from changes in fair value of investments<br>**Working capital adjustments**<br>(Increase)/Decrease in debtors<br>Increase/(Decrease) in creditors<br>**Net cash (used in)/provided by operating activities**<br>**Cash flows from investing activities**<br>Payments for property, plant and equipment<br>Proceeds from sale of property, plant and equipment<br>Proceeds from sale of investments<br>**Net cash generated from investing activities**<br>**Cash flows from financing activities**<br>Repayments of loans and borrowings<br>**Net cash generated from financing activities**<br>**Net increase in cash and cash equivalents**<br>**Cash and cash equivalents at 1 January**<br>**Cash and cash equivalents at 31 December**|2025<br>316,952<br>26,533<br>(405,582)<br>-<br>(569)<br>(10,519)<br>(19,503)<br>(92,688)<br>-<br>418,332<br>-<br>418,332<br>(1,711)<br>(1,711)<br>323,933|2024<br>(367,463)<br>26,673<br>-<br>-<br>-<br>-<br>21,780|
|---|---|---|
|||(319,010)<br>-<br>-<br>-|
|||-<br>(1,575)|
|||(1,575)<br>(320,585)|
||520,508<br>844,441|841,093|
|||520,508|



10 



**SUBUD BRITAIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## 1. **GENERAL INFORMATION** 

The charity is a private company limited by guarantee, registered in England & Wales and a registered charity in England & Wales as well as Scotland. 

The address of the registered office is: 

51 High Street, Arundel, West Sussex, BN18 9AJ 

## 2. **ACCOUNTING POLICIES Accounting conventions and basis of preparation** 

The accounts have been prepared in accordance with: 

(a) FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) 

(b) The Charities Act 2011 

(c) the historic cost basis of accounting, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income and expenditure. 

The financial statements are prepared in Sterling which is the functional currency of the entity. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. 

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. 

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. 

## **Incoming resources** 

All incoming resources are included in the Statement of Financial Activities when the charity is 

legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

- Voluntary income is received by way of donations, gifts and grants and is included in full in 

the Statement of Financial Activities. Grants where entitlement is not conditional on the delivery 

of a specific performance of the charity are recognised when the charity becomes 

unconditionally entitled to the grant. 

- Investment income is included when receivable. 

- No amounts are included in the financial statements for services donated by volunteers. 

## **Resources expended** 

All expenditure is accounted for on an accrual basis. Expenditure includes any VAT which 

cannot be recovered, and is reported as part of the expenditure to which it relates. The following specific policies are applied to particular categories of expenditure: 

- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated 

directly to such activities and those costs of an indirect nature necessary to support them. 

- Governance costs include those costs associated with meeting the constitutional and 

statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. 

## **Operating leases** 

Rentals payable under operating leases are charged against income on a straight line basis over the lease term. 

## **Consolidation** 

The company and its subsidiary comprise a small group. The company has therefore taken advantage of the exemption conferred by S248 of the Companies Act 1985 not to prepare group accounts. 

## **Cash flow** 

The accounts include a cash flow when income is over £500,000pa. Otherwise not since the company, as a small reporting entity, is exempt from the requirements to prepare such a statement under Financial Reporting Standard 102 Section 1A for smaller entities. 

11 



## **SUBUD BRITAIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **Tangible fixed assets** 

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life. Depreciation of freehold properties is provided at 1% of the cost. Amortisation calculated by reference to the unexpired portion of leases of the leasehold properties is charged to the property fund. 

## **Unlisted investments** 

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. 

## **Tax recoverable** 

Tax recoverable relating to Gift Aid income is taken into account in the year in which it is received. 

## **Valuation of investments** 

Investments held as fixed assets are shown at current valuation. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

Accounting estimates and assumptions are made concerning the future and, by their very nature will rarely equal the related actual outcome. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 

## **Limited by Guarantee** 

Subud Britain is a company limited by guarantee and accordingly does not have any share capital. 

Every member of the company undertakes to contribute such amount as may be required not exceeding £1, to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they ceased to be a member. 

12 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

|3.<br>**INCOMING AND ENDOWMENTS**<br>**2025**<br>Incoming resources from generated funds<br>Donations and legacies<br>Gift Aid donations<br>Other donations<br>Appeals<br>Grants<br>Other trading activities<br>Fund raising<br>Investment income<br>Interest<br>Incoming resources from charitable activities<br>Congress<br>Hall letting<br>Surplus on freehold disposal<br>Other income<br>Total Incoming Resources|**Unrestricted**<br>**Funds**<br>104,922<br>55,203<br>21,590<br>33,422<br>215,137<br>-<br>-<br>11,187<br>11,187<br>38,258<br>368,669<br>405,582<br>390<br>812,899<br>1,039,223|**Restricted**<br>**Funds**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9<br>9<br>9|**Total Funds**<br>**2025**<br>104,922<br>55,203<br>21,590<br>33,422<br>215,137<br>-<br>-<br>11,187<br>11,187<br>38,258<br>368,669<br>405,582<br>399<br>812,908<br>1,039,232|**Total Funds**<br>**2024**<br>107,282<br>149,877<br>-<br>13,566|
|---|---|---|---|---|
|||||270,725|
|||||-|
|||||-|
|||||10,266|
|||||10,266|
|||||13,261<br>310,867<br>-<br>1,159|
|||||325,287|
|||||606,278|



13 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

|4.<br>**CHARITABLE ACTIVITIES**<br>**2025**<br>Donations:<br>World Subud Association & Zonal<br>contributions<br>Property:<br>Insurance<br>Repairs & maintenance<br>Cleaning<br>Light & heat<br>Rent<br>Rates<br>Water<br>Household & garden<br>Interest paid<br>Other direct charitable expenditure:<br>Directories<br>Bookkeeping<br>Management Fees<br>Helper expenses<br>Wings expenses not funded<br>Publications<br>Refreshments<br>Archives<br>Other charitable costs<br>Journal publishing<br>Journal Digest publishing<br>Subud Voice contribution<br>Marketing<br>National office<br>Committee<br>Congress costs<br>Telephone<br>Bank charges<br>Gift Aid administration<br>Post, stationary & printing<br>Subscriptions<br>Computer costs<br>Charitable donations<br>SICA activities<br>SYA activities<br>SYFA activities<br>Travel international<br>World Congress travel expenses<br>Depreciation of freehold property<br>Support Costs - See note 5<br>Total charitable activities|Unrestricted<br>Funds<br>28,500<br>28,500<br>17,341<br>302,686<br>21,654<br>60,417<br>73,145<br>9,360<br>9,791<br>13,244<br>2,153<br>509,791<br>39<br>1,819<br>59,812<br>2,843<br>141<br>250<br>2,126<br>5,399<br>6,075<br>2,140<br>(138)<br>1,080<br>2,355<br>2,390<br>13,291<br>8,506<br>5,027<br>2,178<br>935<br>276<br>83<br>1,988<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>118,615<br>39,345<br>696,251|Restricted<br>Funds<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>60<br>5<br>-<br>-<br>26,533<br>26,598<br>-<br>26,598|Total Funds<br>2025<br>28,500<br>28,500<br>17,341<br>302,686<br>21,654<br>60,417<br>73,145<br>9,360<br>9,791<br>13,244<br>2,153<br>509,791<br>39<br>1,819<br>59,812<br>2,843<br>141<br>250<br>2,126<br>5,399<br>6,075<br>2,140<br>(138)<br>1,080<br>2,355<br>2,390<br>13,291<br>8,506<br>5,027<br>2,178<br>935<br>276<br>83<br>1,988<br>-<br>-<br>60<br>5<br>-<br>-<br>26,533<br>145,213<br>39,345<br>722,849|Total Funds<br>2024<br>33,500|
|---|---|---|---|---|
|||||33,500|
|||||16,421<br>472,328<br>23,252<br>62,809<br>90,678<br>11,924<br>9,424<br>5,158<br>2,289|
|||||694,283|
|||||965<br>2,487<br>59,811<br>6,373<br>21<br>96<br>1,522<br>7,141<br>2,932<br>2,160<br>50<br>1,380<br>1,496<br>1,247<br>26,084<br>21,403<br>4,999<br>1,698<br>1,072<br>747<br>-<br>3,304<br>750<br>144<br>102<br>60<br>586<br>10,607<br>26,673|
|||||214,551|
|||||31,407|
|||||973,741|



14 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

|5.<br>6.<br>7.<br>8.<br>9.|**SUPPORT COSTS**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Audit<br>8,520<br>-<br>Accountancy<br>14,340<br>-<br>Legal and professional fees<br>20<br>-<br>Trustees Congress costs<br>5,260<br>-<br>Trustees/National Council meetings<br>10,700<br>-<br>Executive meetings<br>505<br>-<br>39,345<br>-<br>**TRUSTEES REMUNERATION AND EXPENSES**<br>There is no remuneration paid to the Trustees.<br>Trustee expenses were paid where appropriate and if claimed by individual Trustees.<br>During the year expenses were paid to 4 Trustees (2024 - 3)<br>Expenses comprised:<br>UK meetings travel & accommodation<br>World Congress, Indonesia July 2024<br>Subud Britain Congress fees<br>Other<br>**STAFF COSTS**<br>Gross salaries<br>Employers National Insurance<br>The average number of part time staff during the year<br>No employees received employee benefits exceeding £60,000 during the year.<br>**AUDITORS REMUNERATION**<br>Fees payable for the audit of the financial statements<br>Fees payable to the charity's auditor for other services<br>**GROSS TRANSFER BETWEEN FUNDS (see also Note 18)**<br>2025<br>Unrestricted & Designated Funds<br>General Fund<br>142,808<br>Congress<br>-<br>PPM<br>(144,205)<br>-<br>Restricted Funds<br>SICA<br>1,397<br>Net movement<br>-|Total Funds<br>2025<br>8,520<br>14,340<br>20<br>5,260<br>10,700<br>505<br>39,345<br>2025<br>2,349<br>-<br>1,228<br>507<br>4,083<br>12,549<br>-<br>12,549<br>1<br>8,520<br>£nil<br>16,102<br>(16,123)<br>-<br>21|Total Funds<br>2024<br>7,920<br>12,924<br>500<br>10,063|
|---|---|---|---|
||||31,407|
||||2024<br>1,266<br>2,527<br>537<br>-|
||||4,330|
||||20,354<br>-|
||||20,354|
||||1|
||||7,920|
||||£nil|
||||2024<br>-|
||||-|



15 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## 10. **TANGIBLE ASSETS** 

|**TANGIBLE ASSETS**|||
|---|---|---|
|Summary:<br>Freehold property<br>Leasehold property<br>**Freehold property**<br>Barnet<br>Bradford<br>Canterbury<br>Central London<br>Lewes<br>Liverpool<br>Manchester<br>Perth<br>Reigate<br>Sheffield<br>Tunbridge Wells|2025<br>2024<br>2,475,743<br>2,515,027<br>9,551<br>9,550<br>2,485,294<br>2,524,577<br>B/F<br>Additions<br>C/F<br>B/F<br>Charge<br>Disposal<br>C/F<br>31-Dec-25<br>31-Dec-24<br>(Disposals)<br>12,230<br>12,230<br>(977)<br>(122)<br>(1,099)<br>11,131<br>11,254<br>19,246<br>19,246<br>(1,536)<br>(192)<br>(1,728)<br>17,518<br>17,710<br>62,564<br>62,564<br>(5,008)<br>(626)<br>(5,634)<br>56,930<br>57,556<br>797,777<br>797,777<br>(63,831)<br>(7,978)<br>(71,809)<br>725,968<br>733,946<br>872,761<br>872,761<br>(8,728)<br>(8,728)<br>(17,456)<br>855,305<br>864,033<br>5,648<br>5,648<br>(448)<br>(56)<br>(504)<br>5,144<br>5,200<br>439,541<br>439,541<br>(35,161)<br>(4,395)<br>(39,556)<br>399,985<br>404,380<br>340,128<br>340,128<br>(27,208)<br>(3,401)<br>(30,609)<br>309,519<br>312,920<br>13,862<br>(13,862)<br>-<br>(1,112)<br>-<br>1,112<br>-<br>-<br>12,750<br>2,420<br>2,420<br>(192)<br>(24)<br>(216)<br>2,204<br>2,228<br>101,138<br>101,138<br>(8,088)<br>(1,011)<br>(9,099)<br>92,039<br>93,050<br>Cost<br>Depreciation<br>Net Book Value|2025<br>2024<br>2,475,743<br>2,515,027<br>9,551<br>9,550|
|||2,485,294<br>2,524,577|
||2,667,315<br>(13,862)<br>2,653,453<br>(152,289)<br>(26,533)<br>1,112<br>(177,710)<br>2,475,743<br>2,515,027||



The property at Canterbury is used as security for bank borrowings. Reigate Hall was sold in the year. 

|**Leasehold property**<br>Cost at 31-Dec-2024<br>Disposals<br>Cost at 31-Dec-2025<br>Amortisation at 31-Dec-2024<br>Disposals<br>Amortisation at 31-Dec-2025<br>Net book value at 31-Dec-2025<br>Net book value at 31-Dec-2024|Bristol<br>9,550<br>-<br>9,550<br>-<br>-<br>-<br>9,550<br>9,550|Norwich<br>27,700<br>-<br>27,700<br>27,699<br>-<br>27,699<br>1<br>1|Total<br>37,250<br>-|
|---|---|---|---|
||||37,250|
||||-<br>27,699<br>-|
||||27,699|
||||-|
||||9,551|
||||-<br>-|
||||9,551|



In the opinion of the directors the current market value of the freehold and long leasehold properties is in excess of £4,450,000 (2024: £4,750,000). 

16 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

|11.<br>**INVESTMENTS**<br>**Unlisted investments:**<br>Oakenhall Ltd<br>ordinary £1 shares - 15,385 shares<br>**Listed investments:**<br>Asiamet Resources Ltd - 60,614 shares<br>**Subsidiary undertaking:**<br>The Amadeus Centre Limited<br>ordinary £1 shares<br>**Overall total:**<br>Market Value at 31-Dec-2024<br>Additions<br>Bristol leasehold recognised at £1<br>Disposals<br>Net investment gain (loss)<br>Market Value at 31-Dec-2025<br>Historical cost at 31-Dec-2025|2025<br>15,385<br>15,385<br>1,079<br>1,079<br>2<br>16,466<br>15,896<br>1<br>-<br>569<br>16,466<br>16,845|2024<br>15,385|
|---|---|---|
|||15,385|
|||509|
|||509|
|||2|
|||15,896|
|||15,896<br>-<br>-<br>-|
|||15,896|
|||16,845|



## 12. **SUBSIDIARY COMPANY** 

The wholly owned subsidiary, The Amadeus Centre Limited, is incorporated in England. The subsidiary manages, promotes and rents the Central London group property, The Amadeus Centre. 

At 31 December 2024, the latest date for which accounts are available, the aggregate of the share capital and reserves of The Amadeus Centre Limited amounted to a deficit of £11,645. 

|13.<br>**DEBTORS**<br>Trade debtors<br>Other debtors<br>14.<br>**CASH AT BANK AND IN HAND**<br>National accounts and Restricted Funds<br>Group & Regional accounts|2025<br>-<br>11,319<br>11,319<br>451,272<br>393,169<br>844,441|2024<br>-<br>800|
|---|---|---|
|||800|
|||116,452<br>404,055|
|||520,508|



17 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

|15.<br>**CREDITORS**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Bank loans (secured)<br>16<br>Taxation and social security<br>Other creditors<br>**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**<br>bank loans (secured)<br>16<br>Total Bank loans outstanding<br>- repayable between 2-5 years<br>- repayable over 5 years<br>16.<br>**LOANS AND BORROWINGS**<br>Bank loans (secured)<br>Non-current loans and borrowings<br>Current loans and borrowings|2025<br>3,864<br>(202)<br>10,273<br>13,935<br>22,408<br>15,456<br>6,952<br>22,408<br>26,272<br>22,408<br>3,864<br>26,272|2024<br>3,864<br>-<br>29,573|
|---|---|---|
|||33,437|
|||24,119|
|||15,456<br>8,663|
|||24,119|
|||27,983|
|||24,119<br>3,864|
|||27,983|



The bank loan is secured on the Canterbury property. 

## 17. **RELATED PARTY TRANSACTIONS** 

Subud Britain is a voting member of the World Subud Association (WSA). In the year Subud Britain made contributions of £22,000 (2024 £27,000) to WSA. 

18 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## 18. **THE FUNDS OF THE CHARITY** 

|**Unrestricted funds**<br>General fund<br>Congress<br>PPM<br>**Total Unrestricted funds**<br>**Restricted funds**<br>SYA<br>SYFA<br>SICA<br>Archives<br>Property<br>**Total Restricted funds**<br>**Total funds**|Total funds<br>brought<br>forward<br>1,613,419<br>-<br>(63,809)<br>1,549,610<br>8,468<br>4,016<br>-<br>9,824<br>1,432,307<br>1,454,615<br>3,004,225|Incoming<br>resources<br>610,867<br>22,774<br>405,582<br>1,039,223<br>8<br>1<br>-<br>-<br>-<br>9<br>1,039,232|Outgoing<br>resources<br>(687,745)<br>(8,506)<br>-<br>(696,251)<br>(60)<br>(5)<br>-<br>-<br>(26,533)<br>(26,598)<br>(722,849)|Transfers<br>between<br>funds<br>142,808<br>-<br>(144,205)<br>(1,397)<br>-<br>-<br>1,397<br>-<br>-<br>1,397<br>-|Gain<br>(Loss) on<br>investments<br>569<br>-<br>-<br>569<br>-<br>-<br>-<br>-<br>-<br>-<br>569|Total funds<br>carried<br>forward<br>1,679,918<br>14,268<br>197,568|
|---|---|---|---|---|---|---|
|||||||1,891,754|
|||||||8,416<br>4,012<br>1,397<br>9,824<br>1,405,774|
|||||||1,429,423|
|||||||3,321,177|



## **Key:** 

SYA - Subud Youth Association SYFA  - Subud Youth & Families Association SICA - Subud International Cultural Association Archives - SB & WSA archives in the UK WSA - World Subud Association PPM - Property Purchase & Maintenance Fund See Note 19 for information on each fund. 

19 



## **SUBUD BRITAIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## 19. **RESERVES / FUNDS INFORMATION** 

## **Property Purchase & Management Fund** 

Bequests received by Subud Britain are placed in the Fund. The fund is used to assist with the purchase 

or major repair of properties either as a direct contribution to the cost or as a loan. 

## **Congress** 

Any surplus made on Congress may be carried forward towards to the cost of the following year's Congress. **Property** 

Funds raised for the purchase of property. These funds have all been used for that purpose and the fund balance is held in property and not in available cash. As the purpose of these funds has been fulfilled, the proceeds of any property sale are placed in the General fund. It is a policy of Subud Britain that these proceeds will then be available to the Group or Region who were using the property to enable them to buy another property. If no property has been purchased within 2 years of the sale then a review is carried out with the Group or Region to determine if the funds are still required for that purpose. 

## **SICA** 

SICA is the Subud International Cultural Association, in Britain. SICA encourages, facilitates and 

co-ordinates the inner creative ability of all Subud Britain members and is one of the vehicles for taking Subud into the world. SICA raises its funds from donations and cultural activities. 

## **Subud Youth** 

Subud Youth organises activities and events for young people in Subud Britain. 

## **Archives** 

This fund is to support the work of the Subud Britain archives to collate and preserve the history of the development of Subud in this country for future generations. 

## **SYFA** 

Subud Youth & Families Association organises activities and events for youth and families in Subud Britain. **WSA** 

The World Subud Association is the umbrella organisation for the world wide Subud community, Subud Britain is a member country of the World Subud Association. 

|**NATIONAL CONTRIBUTIONS**<br>Contributions by the Regions to the National funds were as follows:<br>Region:<br>South East<br>East Anglia<br>South West<br>North<br>Scotland<br>London<br>Thames Valley|2025<br>20,900<br>8,300<br>10,800<br>3,000<br>8,000<br>12,000<br>8,350<br>71,350|2024<br>30,900<br>8,950<br>31,800<br>7,000<br>2,000<br>12,000<br>9,050|
|---|---|---|
|||101,700|



## 20. **NATIONAL CONTRIBUTIONS** 

20 



## **SUBUD BRITAIN** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

|21.<br>**NATIONAL CONGRESS**<br>Receipts<br>Costs<br>Cost of Congress & Gathering<br>Officers' fees and expenses<br>Net cost to Subud Britain|2025<br>55,082<br>39,598<br>8,507<br>48,105<br>(6,977)|2024<br>13,261<br>13,113<br>2,458|
|---|---|---|
|||15,571|
|||2,310|



The 2025 Congress was held at Lewes Subud Centre (2024 the same). 

## 22. **ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**||||
|---|---|---|---|
|Tangible assets<br>Investments<br>Net current assets<br>Creditors falling due after more than one year|Unrestricted<br>funds<br>1,079,520<br>16,466<br>818,176<br>(22,408)<br>1,891,754|Restricted<br>funds<br>1,405,774<br>-<br>23,649<br>-<br>1,429,423|Total<br>funds<br>2,485,294<br>16,466<br>841,825<br>(22,408)|
||||3,321,177|



## 23. **CONTROLLING PARTY** 

The charity is controlled by the Board of Trustees. 

## 24. **OPERATING LEASE COMMITMENTS** 

At 31 December 2025 the charity had estimated commitments under an operating lease at Loudwater Farm, at £10,047 per quarter, for 3 remaining quarters (January to September 2026) as follows: 

|Within one year<br>Between one and five years<br>Over five years<br>Total|2025<br>30,141<br>-<br>-<br>30,141|2024<br>38,338<br>153,353<br>28,754|
|---|---|---|
|||220,445|



The Trustees approved exercise of a break clause at their meeting on 5 March 2026 and authorised Russell-Cooke LLP to serve the notice, which was served on 10 March 2026. This would end the lease on 30 September 2026. 

At 31 December 2025 there was a known potential liability under the repairing obligations of the lease, but it was not capable of reliable quantification at that date. 

The current surveyor-led negotiations and contractor pricing obtained during 2026 indicate that the eventual exposure could be significant, but no final figure has been agreed and discussions remain ongoing. 

21