s￿ SADDHATISSA INTERNATIONAL BUDDHIST cEl￿RE (Affillthd to World ￿dd￿￿t 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 1 ## 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 2 ## 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. 3 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. 1. Ven Dr Akuretiye Nanda Trustee 2. Dr Senevi Aturupana Trustee and Treasurer Approved by the board on 22 October 2024 4 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| |---|---|---|---|---| 5 ## 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. 6 ## 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| |---|---|---|---| 7