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- Elan Vital, which is a registered charity, and Elan
Vital Ltd. is wholly owned by Elan Vital, and,
very likely handles the sale of materials. The following
report is the annual report for the
charity. Annual Report for 1997 (1,75 Mb Pdf file) (Pdf
files need Adobe®
Acrobat®
Reader
installed on your computer to be viewed.) |
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Cover page "Charities
Commission" ELAN VITAL Balance Sheet and Accounts For the Year Ended 31 March 2001 N.
HARRIS & CO. |
Page 1 ANNUAL REPORT OF THE TRUSTEES OF ELAN VITAL The Trustees present their Report and the Accounts of the Charity for the period to 31 March 2001. Elan Vital was established as a Charity by a deed dated 22 October 1991 ('the Trust Deed') and registered with the Charity Commission on 28 January 1993 (Registered number 1016818). The address and principal office of Elan Vital is 3 The Drive, Hove, East Sussex BN3 3JE. Elan Vital has one wholly-owned trading subsidiary, namely Elan Vital Limited (Registered number 2289543), Registered Office 3 The Drive, Hove, East Sussex BN3 3JE. Elan Vital's bankers are Lloyds Bank plc, 74/78 Church Road, Hove, East Sussex BN3 2EE. Elan Vital's solicitors are Messrs Bates, Wells & Braithwaite, 61 Charterhouse Street, London EC1. Elan Vital's Auditors are Messrs N Harris & Company, Jaybee House, 115-157a, Clapham High Street, London SW4 7SY. The Trustees are: Roland Peter Klepzig The Trust Deed provides that the statutory power of removing a trustee or trustees and of appointing new or additional trustees is vested in the Settlor during its existence and thereafter in the Trustees for the time being. The minimum number of trustees is three and the maximum is seven. The Settlor is Elan Vital Foundation of Hirschmattstrasse 36, 6002 Luzern, Switzerland. The power of investment is vested by the Trust Deed in the Trustees who have power to invest monies arising under the trusts or otherwise to apply the same in the purchase or acquisition of real or personal property rights or interests of whatsoever kind and wheresoever situate. The general powers of Trustees set out in the Trust Deed include the power to organise and hold conventions and conferences, both in the UK and throughout the world, and to co-operate with other organisations carrying out similar work in organising and holding such conventions and conferences and other meetings and to contribute to the cost thereof. There
are no specific restrictions imposed by the Trust Deed
concerning the way in which the Charity may fulfil its
objectives. |
Page 2 STATEMENT OF THE TRUSTEES' RESPONSIBILITIES Charity Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its financial activities for that period. In preparing those financial statements the Trustees are required to: a. select suitable accounting policies and then apply them consistently; b. prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in business; c. adopt policies which are in accordance with current law applicable to charities and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; d. make judgements and estimates that are reasonable and prudent. The Trustees are responsible for keeping proper accounting records which 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 Charities Act 1992. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. REVIEW OF OBJECTIVES, POLICIES AND ORGANISATION 1. As set out in the Trust Deed, the purpose of the Trust is to advance public education in the understanding and realisation of human potential through self-knowledge based on the teachings of Prem Pal Singh Rawat, known as "Maharaji". In order to further these objects it is the policy of the Trustees to organise conferences and the like at which Mr Rawat will be invited to speak, and to organise video presentations of Mr Rawat's speeches, or live presentations by other persons with knowledge of this field, at venues throughout the UK and to co-operate with other organisations throughout the world which have similar objectives. There have been no material changes in this policy since the last Annual Report. 2. The Trustees meet formally or informally several times a year to review the activities, policies and progress of the Charity. For administrative purposes, the country is divided into 21 regions. The Trustees are in each region assisted by voluntary officials including a Regional Treasurer. Further a national finance team of 6 trained volunteers co-ordinate and check the accounts of the regions each month. These accounts are then incorporated in the records maintained at Elan Vital's office in Hove. Regular
meetings take place between the officers of the Trust and
its auditors. |
Page 3 During the year the Charity employed 4 full time and 2 part time support staff and S full time field workers. Much of the Charity's activity is conducted by volunteers. REVIEW OF ACTIVITIES, DEVELOPMENT AND ACHIEVEMENTS The growth of the Charity's activities has progressed satisfactorily during the course of the year. 1. During the year the Charity organised a national one day event at which Mr Rawat agreed to speak, at the following location: Sep-00 - Harrogate - No. of attendees 1913 This event was well-attended and passed off successfully; costs were in line with budget and covered by general donations. 2. Over 5000 public events were held throughout the UK at approximately 90 different venues, and generated considerable interest. The majority of these were satellite transmissions of presentations given by Mr Rawat. 3. These events were supported through voluntary donations and with the service of unpaid volunteers. A video lending library, also supported by voluntary donations, has been established which facilitates the distribution of materials relevant to the Teaching throughout the UK. , The Trustees have adopted a Health and Safety Policy which includes risk assessments of international events held in the UK and of local video and broadcast events. The Charity has appointed a Health and Safety Manager, and many of the volunteers who assist in this area have attended appropriate internal and external training courses. 4.
The Charity has continued to develop its support for
international activities especially in relation to the
convening of international events and production of
materials and support for international broadcasts; the
special international "restricted" fund continues to support
these activities, without detracting from the Trust's UK
activities. Donations of £806083 were received into
this fund during the year ended 31 March
2001. |
Page 4 REVIEW OF ACTIVITIES, DEVELOPMENT AND ACHIEVEMENTS 5. During the year ended 31 March 2001 donations of £6565 were received into the Elan Vital Knowledge Centres fund which had been established in June 1998 to support the establishment of a permanent educational facility in the UK and to support the activities of other organisations with similar objectives at such permanent centres already established overseas. 6. The limited company owned by the Charity, Elan Vital Limited, continues to be used for the purpose of conducting related commercial activities, mainly comprising the sale of video and audio teaching material and including, where appropriate, the booking of hotel accommodation in relation to events such as those referred to above. Profits accruing from these activities are distributed to the Trust and applied for the purpose of the Charity. In respect of the year ended 31 March 2001 the subsidiary convenanted profits of £44081 to the Charity. 7. All assets of the Charity other than those held in the special international "restricted' fund and the special knowledge centres 'restricted' fund are held in an unrestricted general fund. The incoming resources of this fund for the year were £784757. The Trustees authorised transfers totalling £27800 from the general fund to augment the resources of the special international restricted fund. The assets of the Charity are all held for the purpose of its objects and none have a value materially different from that shown in the Accounts. 8. The financial position of the Charity is good and the Trustees consider that it is well placed to continue the current level of activities for the foreseeable future. 9. The Charity does not have any significant investments apart from its shareholdings in Elan Vital Limited. 10.
The balances of the general and restricted funds are
sufficient to meet the obligations of the
Charity. |
Page 5 11. The Charity contributes to Elan Vital Foundation, Elan Vital Incorporated and Elan Vital Australia. Each of these organisations has objects and activities similar to those of the Charity. A contribution was also made to Elan Vital, France, in support of the international event held in Paris in September 2001. Contributions to these organisations are described in Note 4 on Page 11. POST-BALANCE SHEET EVENTS The Charity organised a two day event in Nottingham in June at which Mr Rawat agreed to speak. The number of individuals receiving the satellite transmissions in their homes has significantly increased. FOR AND ON BEHALF OF THE TRUSTEES JAMES SHAW Trustee |
Page 6 We have audited the financial statements on pages 7 to 16 which have been prepared under the historical cost convention and the accounting policies set out on Page 9. Respective responsibilities of Trustees and Auditors As described on Page 2 the Charity's Trustees are responsible for the preparation of financial statements. It is our responsibility to form an independent opinion, based on our audit, on those statements and to report our opinion to you. We have been appointed auditors under section 43 of the Charities Act 1993 and report in accordance with regulations made under section 44 of that Act. Basis of Opinion We conducted our audit in accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the Trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Charity's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. Opinion In our opinion the financial statements give a true and fair view of the state of affairs of the Charity and the Group as at 31st day of March 2001 and of their incoming resources and application of resources for the year then ended and have been properly prepared in accordance with the Charities Act 1993. N
Harris & Co LONDON
- 14th day of December 2001 |
Page 7 ELAN VITAL BALANCE
SHEET - AS AT 31 MARCH 2001
The financial statements on pages 7 to 16 were approved by the Board Of Trustees on the 14th day of December 2001 and signed on its behalf by Trustees |
Page 8 CONSOLIDATED
STATEMENT OF FINANCIAL ACTIVITIES
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Page 9 NOTES
TO THE ACCOUNTS 1)
ACCOUNTING POLICIES The recommendations of the Statement Of Recommended Practice - Accounting for Charities - have been followed and these Accounts incorporate the results of the Charity's wholly owned trading subsidiary. The following principal accounting policies have been adopted: a)
Donations, Legacies and Voluntary Income b)
Grants Payable c)
Direct Charitable Expenditure d)
Management and Administration of the Charity e)
Depreciation f)
Stock |
Page 10 NOTES
TO THE ACCOUNTS 2) NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY The Charity has one wholly owned subsidiary, Elan Vital Limited, which is incorporated in the UK. The activities of the Company comprise mainly the sale of videos and video teaching material and also, where appropriate, the booking of hotel accommodation in connection with events in which the Charity participates. The company covenants its taxable profits to Elan Vital. A summary of the Trading results is shown below. Audited accounts have been filed with the Registrar of Companies.
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Page 15
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Page 16
The outgoing resources in respect of donated assets represents the depreciation charge for the year and the net book value of assets scrapped during the year. The Elan Vital International Tours And Events Special Fund was set up in January 1996 to deal specifically with the charity international activities. The fund is represented by current assets. The Knowledge Centre Fund was set up in 1998. The fund is represented by current assets. The balance of the unrestricted charitable fund is represented by fixed and current assets. The
non-charitable trading fund represents trading profits
retained by the charity's
subsidiary. |
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