2023-12-31-accounts - World Buddhist Foundation

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s SADDHATISSA INTERNATIONAL BUDDHIST cElRE (Affillthd to World ddt FouBd•¢lom - Rtgtstertd Chlrlty No. IIM18762 & Srl LAnk• Ed•caliomaLCnllwral *ad Welfarn Foumdatlon) Plau of Religiou Worshlp Registered 81489 V¢n.Wilb•8rd¥ri OnanisJAta Head of ike l ihara 309 - 311. Kiogsbury Road, London NW9 9P& UK. Tel: 020 8204 3301 1 E-wil: illfo@ssibc.org I ssibcCa'outlooLcom I Web: ssibc.org World Buddhist Foundation Charity Commission, No. 1008762. Report of the Managing Trustee and Trustees For the year ending 31 December 2023 The Trustees and Management Committee has pleasure in submitting its Report to the Members, together with the Financial Statements of the WORLD BUDDHIST FOUNDATION for the year ending 31 December 2023. Introduction and Princi al Activi The headquarters of WBF is located at 309-31 l Kingsbury Road, London NW9 9PE. It is constituted by a Deed of Trust. The charity is registered in the Charity Commission, No. 1008762. . This charity has two affiliated, operational branches: (i) Sri Saddhatissa International Buddhist Centre (SSIBC), a religious centre that provides facilities for the perforniance of religious activities of Theravada Buddhist traditions; and (li) Sri Lanka Educational, Cultural and Welfare Foundation (SECWF), a social welfare outlet that undertakes social, cultural and educational activities. . In Sri Lank4 two affiliated institutions are in operation under the World Buddhist Foundation: (i) Sri Saddhatissa International Buddhist Centre and Library, Naval Nugegoda, Sri Lank4 and (li) Mudita Children's Home at Hettipola, Sri Lanka. This latter institution is engaged in social welfare activities within Sri Lanka with some support from the Sri Lankan Government institutions. All aspects of the WBF operations and management are premised on the foundations of Buddhist teachings and principles. Whilst our primary objective is to enable those of a Buddhist heritage and commitment with a place of worship, congregation and communal kitchen and food, the Buddhist nornis itself on being able to extend its building and its volunteers, time to all members of the local and wider community. Aims and Ob'ectives In addition to our aims and objectives as defined in our constitution, the WBF set out its aims and objectives, as follows: l. Practice of Buddhism: to provide facilities to enable followers of Buddhism partake in religious perforn]ances in a convenient and conducive environment in accordance with

the Buddha principles and rules laid down by the Buddhist Scriptures and teachings by the Buddha. 2. Celebration and Cultural events of the Buddhist practice: to hold key events to highlight events on the Buddhist calendar. 3. Focus on education: ensure the charity delivers education on both religious ideology and Sinhala language and providing opportunities for the distribution of non-faith infonnation and education. 4. Community Focus and Public Benefit: focus on the community integration and diversity. 5. Improve the Buddhist facilities: increase the facilities and capacity of the Centre building. A key measurement for the Management Committee as to their performance over the year is how closely we managed to deliver to our objectives and to the wishes of the congregation. Practice of Buddhism The Buddhist Centre is open daily between 06:30 am to 09:00 pm. Daily rnorning and evening service are conducted inside the Centre. Services and other practices according to the Buddhist teaching (Buddhist Code of Conduct) are perfornied for weddings, birthdays, name-giving ceremonies, funerals or any other occasions according to the needs of supporters throughout the year. Resident monks, purpose is: Ensure the availability of Buddhist teachings and practice. Encourage the development of morality. meditation and wisdom (sila. samadhi and panna) Make a Buddhist contribution to the Iife of supporters Regular daily services are conducted at the following times: 06:30 11:30 and 19:00 of the main activities and ob'ectivities in the ear The WBF celebrated all main events on the Buddhist calendar. All the major festivals (special religious anniversaries) were celebrated these included: On January 1° 2023, we had a new year day celebration in which we invoked blessings on those who came to the centre. Day programmes held to celebrate full moon days throughout the year on the nearest Sunday of the month. Celebration of Independence Day of Sri Lanka took place on Saturday 04 February 2023. Founders, Day is celebrated annually in mid-February. This year it was held on Sunday I I Feb. Mr Keith Munnings, given a talk on Buddhist teachings on the power of emotional intelligence. This year marked the 32nd anniversary of the passing away of Ven. Dr. Hammalawa Saddhatissa, sanghanayakathero of the U.K. and Europe, in whose memory the Sri Saddhatissa International Buddhist Centre was established. There was also the three months Dana ceremony held to commemorate Late Galayaye Piyadassi, head of the Centre. Sinhala and Tamil New Year Celebration was held in April. The annual rain retreat was conducted from July to October. We have the interfaith annual

call for peace event held in December. We had visits from local schools across the yvar such as Wembley primary school and the Grove school. Focus on Education The WBF held classes in the premises every Saturday and other days. An average of150 students attended and we have 13 teaching staff. Every teacher command enough language skill to be able to teach children up to A level standard. In addition to language teaching. the WBF provides educational and learning classes for: a. Meditation classes on concentration-samatha and Insight-vipassana b. Singing classes, classical Buddhist hymns recitals c. Instnllnent classes, learning to play the instruments Teachers are qualified: By their approval by the managing trustee or the committee of Trustees. By their commitsnent to living by a moral standard basic Buddhist principle. By their competent understanding of Buddhist teachings and practice. Coach trips are organised to various places for the benefit of those who wish to pay for visits to religious events and cultural activities. Communit Focus and Public Benefit A variety of actions have been taken to promote community diversity, integration for the greater public benefit. These include: Increasing the knowledge of Buththism and the functioning of the Temple to the wider community through presentations and walkthroughs for local students. We hav¢ hobt¢d Primary. Secondary Schools and Universities from across Europe, where students and teachers spend between one and half to two hours inside the Buddhist Vihara. They are shown all the facilities provided to the devotees and are made aware of all the practices and traditional routine of prayers in the Buddhist temple. They are taken around the temple, where all the worshippers pray. The children show great interest in the Lord Buddha way of worship and ask many questions to satisfy their curiosity. Refreshments are also provided to these visitors. Principal funding sources WBF depends on donations and rental income. There are several standing orders, some members donate sponsoring outstanding workload such as building repairs, new fittings etc. No salaries were paid by the charity to anyone. Conclusions B Trustees We remain indebted to all those who continue to perforni selfless service during critical time. Our though ain for their blessings. Ven Wil agedara Gnanissar4 Managing Trustees, Dr Senevi Aturupana, Trustee and Treasurer Dated:2811012024

WORLD BUDDHIST FOUNDATION

Report and Accounts

For the year ended 31 December 2023

Registered Charity No 1008762

Sawhney Consulting Limited

Chartered Certified Accountants Harrow Business Centre 429-433 Pinner Road North Harrow, Middlesex HA1 4HN

Registered number 1008762

WORLD BUDDHIST FOUNDATION

Filleted Accounts

For the year ended 31 December 2023

WORLD BUDDHIST FOUNDATION Financial Statements Contents

	Page
Charity Officers and other information	1
Independent Examiners Report	2
Income & Expenditure Statement	3
Balance sheet	4
Notes to the accounts	5-6
Detail Profit & Loss	7

WORLD BUDDHIST FOUNDATION ( Incorporating affiliated bodies )

Affiliations

Sri Saddhatissa International Buddhist Centre Sri Lanka Educational, Cultural and Welfare Foundation

Trustees

Ven Wilbagedara Gnanissara ( Managing Trustee appointed on 24 March 2023) Dr Senevi Aturupana Ven Dr Akuretiye Nanda Mr Loku B.C.Monerawela

Accountants

Sawhney Consulting Limited Harrow Business Centre 429-433 Pinner Road North Harrow Middlesex HA1 4HN

[County or region] 309-311 Kingsbury Road Kingsbury London NW9 9PE

Charity Registration No 1008762

WORLD BUDDHIST FOUNDATION

Registered Charity No 1008762

Independent Examiners Report to the Trustees

For the YE 31 December 2023

In accordance with instruction given to us we have prepared, without carrying out an audit, the attached accounts set out on pages 3 to 7 for the year ended 31st December 2023 together with a Balance Sheet as at that date.

Respective Responsibilities of trustees and Examiner

As the charity trustees you are responsible for the preparation of accounts: you consider that the audit requirement of Section 43(2) of the Charities Act 1993 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the general directions given by the Charity Commissioners under section 43(7)(b) of the Act, whether particular matters have come to our attention.

Basis of Independent Examiners Report

Our examination was carried out in accordance with the general direction given by the Charity Commissioners. 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 the trustees concerning such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independents Examiners Statement

In the course of our examination, attention was drawn to enable a proper understanding of the accounts to be reached as follows

No matter has come to our attention which gives us reasonable cause to believe that in any material respect the trustees have not met the requirements

to keep accounting records in accordance with section 41 of the Act and
to prepare accounts that accord with the accounting records and to comply with the accounting requirements of the Act.

Sawhney Consulting Limited

Chartered Certified Accountants Harrow Business Centre 429-433 Pinner Road North Harrow Middlesex HA1 4HN

WORLD BUDDHIST FOUNDATION

Income and Expenditure Statement

for the year ended 31 December 2023

Income Administrative expenses Operating profit Interest receivable Profit before taxation Tax on profit Profit for the financial year	2023 £ 120,976 (50,707) 70,269 25 70,294 - 70,294	2022 £ 117,383 (51,490) 65,893 7 65,900 - 65,900

The Charity has no recognised gains or losses other than the results for the year as set out above

All of the activities of the Charity are classed as continuing.

1008762

WORLD BUDDHIST FOUNDATION Registered number: Balance Sheet as at 31 December 2023

Notes Fixed assets Tangible assets 2 Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 6 Net assets Capital and reserves 7 Unrestricted Fund Reserve Restricted Revaluation Reserve, Restricted Fund Reserve Shareholders' funds	2023 £ 2,219,117 - 105,432 105,432 (1,200) 104,232 2,323,349 - 2,323,349 936,442 1,093,521 293,386 2,323,349	2022 £ 2,219,430 - 52,914 52,914 (2,400) 50,514 2,269,944 (16,889) 2,253,055 866,148 1,093,521 293,386 2,253,055

These accounts have been prepared in accordance with FRS 102 Section 1A, the Financial Reporting Standard for smaller entities ( effective January 2015).

These financial statements were approved by the Trustees and authorised for issue on 22 October 2024.

Ven Dr Akuretiye Nanda Trustee
Dr Senevi Aturupana Trustee and Treasurer

Approved by the board on 22 October 2024

WORLD BUDDHIST FOUNDATION Notes to the Financial Statements for the year ended 31 December 2023

1 Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with FRS 102 Section 1A the Financial Reporting Standard for Smaller Entities (effective January 2015).

Cashflow statement

The Management Committee has taken advantage of the exemption in Financial Reporting Standard for Smaller Entities (effective January 2007) from including a Cashflow statement in the financial statements on the grounds that the foundation is small.

Fixed Assets

All fixed assets are recorded at cost less accumulated depreciation.The freehold buildings were restated at December 2014 valuation plus additions in the year at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & fittings	25% on written down value
Equipment	25% on written down value

2 Tangible fixed assets

Cost At 1 January 2023 At 31 December 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022	Freehold Property £ 2,218,177 2,218,177 - - - 2,218,177 2,218,177	Fixture & Fittings £ 10,021 10,021 8,868 288 9,156 865 1,153	Equipment £ 6,438 6,438 6,338 25 6,363 75 100	Total £ 2,234,636 2,234,636 15,206 313 15,519 2,219,117 2,219,430

WORLD BUDDHIST FOUNDATION

Notes to the Financial Statements

for the year ended 31 December 2023

WORLD BUDDHIST FOUNDATION Notes to the Financial Statements for the year ended 31 December 2023
4 Freehold Property Cost at 1 January 2014 Additions at 31 December 2014 Revaluation at 31 Decemeber 2014 5 Creditors: amounts falling due within one year Trade creditors Other creditors 6 Creditors: amounts falling due after one year Bank loans	2,023 £ 974,683 149,973 1,093,521 2,218,177 2023 £ - 1,200 1,200 2023 £ -	2022 £ 974,683 149,973 1,093,521
		2,218,177
		2022 £ 1,200 1,200 2,400 2022 £ 16,889

7 Reserves

At 1 January 2023 Surplus for the Year At 31 December 2023	General Reserve Fund - Unrestr'd Funds 866,148 70,294 936,442	Reval'n Reserves - restr'd Funds £ 1,093,521 1,093,521	Educational & Cultural Fund - Restricted Funds £ 293,386 293,386

8 Particulars of Employees

No salaries or wages has been paid to employees, including the trustees during the year

9 Related Party Transactions

No transactions with related parties were undertaken which are required to be disclosed under the Financial Reporting Standards for smaller entities.

10 Taxation

There is no charge to taxation as the charity income qualifies for exemption from income tax under Section 522, Section 531 and Section 532 of the Income Tax Act 2007 during the year.

WORLD BUDDHIST FOUNDATION Detailed statement of Financial Activities for the year ended 31 December 2023

This schedule does not form part of the statutory accounts

Income Donations Rent received Less:Overhead Expenditure Premise cost Rates Light and heat Repairs and maintenance Financial Charges Bank charges Mortgage interest charges Mortgage payment Professional fee Accountancy fees Other legal and professional Administrative Expenses Insurance Travel and subsistence Telephone and internet Special events expenses Postage, printing & stationery Miscellaneous expenses General expenses Donation - srilanka Computer & software expenses Depreciation Total Surplus on Charities Activities Interest receivable Excess of Income over Expenditure	2023 £ 76,086 44,890 120,976 2,938 6,334 15,099 24,371 261 3,111 3,462 6,834 1,200 - 1,200 2,569 1,750 542 6,301 315 144 1,827 4,335 131 313 18,227 50,707 70,269 25 70,294	2,060 5,427 2,951 262 2,979 3,908 1,200 1,611 1,840 3,300 406 15,471 643 1,043 1,460 6,414 97 418	2022 £ 73,683 43,700 117,383 10,438 7,149 2,811 31,092 51,490 65,893 7 65,900