company regl$tratlon nurnb•r. 027245QO
Charlty r•gistratlon number: 1023575
INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK)
(A Company Llmited by Guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK)
IA Company Llmitgd by Guarantee)
CONTENTS
Page
Referon¢È and Admlnl$trativ8 D•talls of tho Charitablo Companyi its Trustees and
Advlsers
Trusl•es' Annual R?port
Statement of Tru$t•es' R•sponsibiliti•s
Independent Examlnorfs Roport
Statem•nt of FlThanclal Activitlos
10
8alance Sh••t
11
stat•ment of Cash Flows
12
Notss to the Flnanciaj Statem•nts
13-26

INTER14ATIONAL BUDDHIST PROGRESS SOCIETI {UK)
(A Company Llmltsd by Guarantsg)
REFERENCE AND ADMthIISTRATIVE DETAILS OF THE CHARITABLE COMPANY. ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2021
Truste•8
Venerabb Chueh Yann Shih. Trusleg
venerab￿ Miao Shiunn Shlh, Secretary
Rev. Ll-ya Chou, Trustee
Rev. Mgi¢hu Fan, Trustae
Rev. Yi Chen Wu, Trustee
Rev. Pei Fen Wu Chang. Trustee
Fong Goh Lee, Trustee
Company roglstered
number
02724500
Charity reglstsrod
numbor
1023575
Registsred offic8
84 Margaret Slre8t
London
W1W 8TD
Company s¢¢rnkny
Venerable Miao Shiunn Shih
Indepondent 6x8mlner
MHA Ma¢lntyre Hudson
Chartered Aecountsnts
2 London Wall Place
London
EC2Y SAU
Bankers
Nalwesl Bank PLC
Cavendish Square
Chatham Customer SeThlce C8ntre
Westem Avenue
Kent
ME4 4RT
Page 1

INTERNATIONAL 8UDDHIST PROGRESS SOCIEfY IUK}
{A Company Llmltsd by Guarnnt•o1
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 OECEMBER 2021
FINANCIAL STATEMENTS
The management ￿MmIttee whlch is the Board of Directors ofthe Soclety ftir the purposes of company law and
trustees lor charity law purposes presents its report and the financial stslemenls for the year ended 31
December 2021. which comply wlh current statutory requirem8nts and the charitable companrfs govemirg
document.
These fmanci81 statements present the resuhs for the London Fo Guarbg Temple.
CHARrrf ORGANISATION
Tho charitable company was regislered by the Charity Commission on 15 July 1993. The ¢harit8ble company is
govemed by it5 Memorandum and Articles of Assoa81ion dated 19 June 1992. Thg charitable company is also
limited by guarantee.
Fo Guang Shan monastery is a Budilhist templ8 that propagates Humanisb'c Buddhism, and was founded by
Vènerable Master Hsing Yun in 1967. The headquarters of the organisation is based in Talwan, and has
branches across th& world induding in Los Angeles, Hong Kong, Sydney, Cap6 Town and Toronto.
T8rwan is where th8 monastic training Is undertaken. Many lay people undertak8 monas￿¢ training to spread
8uddhlsm around the world. Once they achieve a ￿rtain level of training. they are qualrfied to serve at branch
temples.
The Inlgmalional Buddhist Pfogres8 Society IUKI. h8r8after referred to as IBPS (UK). is one of the branches of
Fo Guang Shan in England, and operatss from premises in London with the other branch in Man¢h8st8r, IBPS
Imanchesterl Limited. charity registration numbe¥ 1097502). During the year under revièw, the monasts¢s serving
in London were Venerable Ru Hai, Venerable You Shun, Venerable An Jin, and Venerable Miao Lun9.
The Monasti￿ are sent to diffgrent branches all over the worfd lo propagate Buddhism. This will depend upon
their level of expgrience.
TRUSTEE TRAJNING
Tnthe training is given in Taiwan, wlth a probation period of ong year for newly appointed Trustees.
Direction is provided from Ta￿an where all monastics sit in Conferen￿. and is brought back to thelr relevant
branch. The framework is modified by Tawan bul Ioc81 decisions 8re made by the resident monastics.
DIRECTORS
The Directors of the charitaNe company ar6 also tho Charity Trustses of the IBPS (UK). The Dlrectors in office
during th8 ye8r and wrrenuy were:
Venorable Chueh Yann Shih
Venerablo Miao Shiunn Shih
Rev. Li Ya Chou
Rev. Mei-chu Fan
Rev Yi Chen Wu
Rev. Pei Fen Wu Chang
Fong G¢h Lee
TRUSTEE APPOINTMENT
In accordanc8 with the charitable company's Articles of Association, all the Directors are required lo retire and
being eligibje, may offer themselves fof ie-eleclion by the members.
Directors are recruited Irom ammJsl those supp)rters of the Society whom the Committee Considers can
promde valuable service in this position. Th8y are normally appointed at the Annual General Meeting but the
Committee itself can appoint directors to fill vacanci6s.
Page 2

INTERNATIONAL BUDDHIST PROGRESS SOCIETY IUKI
(A Company Llmlt•d by Guarant•el
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2021
PRINCIPAL RISKS AND UNCERTAINTIES
In the temple. there are a number of wlledion boxes. It was as a result of several instances of attempted
robbery, the Collection boxes have now become alarmed and secured to the wall. The conundrum is that we
want lo welcome the general public into our temple, and allow them lo roam freely. At the same time. we want to
ensure our assets and donal*)ns are protected.
Though the government has eased lod(down and the temple has started to open ils door for devotees and the
general public, there is still uncertainty as Covid case numbers could rise again. To ensure safety and wellbeirwJ
of the monastics. YO￿nte$r$, devotees and general public, the trustees have Continued lo implement measures
such as reduced opening hours. social dlstanclng and mandatory wearing of masks inside the temple.
The management committee continue to monitor any major risks to whi¢h the temple and its actlvilies aré
exposed, and to impfement sYs￿m$ and procedures to manage any risks identrfied.
OBJECTIVES OF THE INTERNATIONAL BUDDHIST PROGRESS SOGIETY IUKI IIBPS IUKI]
The18PS {UK) has the following objects and purpose. as per its Memorandum and Articles of Association:
lo follow th8 Buddha's teachlng. slnc6rety res￿Ct thé Trlpl& Gem. and propagate Buddhism for the
welfare of all beings and awaken Ihe world.
lo promote HumanistSc Buddhism and build a Buddha's Light Pure Land, and Ilve a practical humanlstic
Ilfe and help others wrth compassion
lo akn'de by the Buddhlsl precepts and hamionize the Flve vehicles" practice The Threo Teathing5 and
the human character
lo be involved intemalionaly In culture end educaUon,' have an open mind and treat others wlh mutual
respect
The IBPS (UK) also has the folh)wng mission:
lo encourage the SI￿￿Y and research of Buddhism
to support related cultural 8nd educational programs
to seTve humanity, the community ond Society
to develop educationol programs for all
to promote intemational Dharma wopagation
We have aimed to ¢ontinu8 to develop closer links wlth the neighbouthood and thal community. as sucth lo
bring compassion and spread Buddhism to Ihose less fortunat8. Furthemiore, lo encourage racial tolerance and
harmony amongst all, we have iMp￿mented stratègies to achieve this obiectlV8 includ8 nelworking whh
neighbours.
Through the power of music and cultural events, w8 also aim lo encourage the study of 8LKldhism and pul theory
into practice.
Our main objective in the year is reflected in the annual phrase composed by Venerable Master Hsing Yun. The
phrase Ihis year is'cultivate a H8art that Blooms in All Seasons. and this has been a common theme throughout
our activities.
In planning the actiVit￿S of the Charity. the Twslees have had due regard to the guidance on PutrAi¢ Benefit
Issued by the Charity Commission, and in particular the supplefflentary guidance on the advancement of relIg￿n
lor the public bènefil. All activ￿8$ have been undertaken in relation lo the purposes of the Charity as per ils
Memorandum 8nd Articles ond lo further the Chari￿s purpose for the public b8nefft.
Page 3

INTERNATIONAL BUDDHIST PROGRESS SOCIE￿ (UK>
(A Company Llmltod by Guaranto0)
TRUSTEES. REPORT (CONTINUED)
FOR THEYEAR ENDED 31 DECEMBER 2021
REVIEW OF ACTIVITIES
We present an overview of where our income of £598,051 was recelved from. as well as h[￿ we spent
£622,086, as we ￿ntinUe our programrne to spread Buddhism to the bcal communty. Due to the Covid-19
pandemic. the temple closed doots to the public from 16th March 2020 and opened for individual prayers by
appointment during the months when the pandemic eased. During this time, we maintained all our usual
aclivf(ies, bul moved them onlin6. Our activities during 2021 included.. -
Dhamiè Functlons
Our core activity continues to be organising and holding Dharma lunctlons th81 tske place wlthin the temple, and
is tho basic means by which our devotees cultivate and practice Buddhism. Therè is a cycle of funcbons through
the year. From January to the end of July, we continued to hold Iheso Dharma services via live-stream. Sin
August 2021 811 Dharma services were 8 hlorld of being in-person and online. We maintained our commitment
to propag8ting Buddhism and the enwronment by using materials leftover from previous years. Our spending
Dhamia fvnclions increased to just over £12,760 (2020 £10,917)- Donations collected from the followiNJ
Dhamia functions during the year incr8ased b8ck to near pre-pandemic £326.023 (2020- £163.137J.'
The Chlnesa New Year celebraUon$ look place on 12 February, whlch saw In th8 Chines& Y8ar of lh8
TigeT. Due to the pandemic, the setvices wère held online, however an altar was set up at the entran￿ of
the temple fLY vistiors and dèvotees to pay respgd and offer incense.
bl Qing Mlry Ancestor Memorial S8rvice allows devotees to transfer merits to 8ncestors and deceased
people. This is an important Chinese ritual in Lunar March, which happened lo be in April this year. Thi$
$8rvice took pl&8 Ma INe stream on YouTube.
In 2021. the annual Wesak Day cel¢bralion5 were cancelled due lo COVID 19 pandemic. On the actual
day of Buddha's birthday. a special Dharn￿ seTvice was h8ld online lo ¢ommemorale the birth of Ihe
Buddha and to signtfy the purification of ourselves too.
dl
The Ullambana Dharma Service was held via live stream and in person in the seventh lunw month. There
were also offerings to the Sangh8. The underlying benefit of thi5 function is lo ¢ultwale ￿rfilla1 piety
loward5 our p8rents and be compassionats lo neighbours.
The Medicine 8uddha Function was held in November. We make lamp offerirvJ8 to pray for wisdom an(1
longevtty.
Th& Amitabha Function was held in December, and gave d&votsgs Ihe opportunhy lo rneditste and chant
as part of thelr Buddhist practKe.
Afjonthty Lighl S•r¥l¢8s
These are held on ea¢h Full and New Moon. 01118mps are lit to mark each occasion tyjt these have bgen
replaced by eleCtr￿lampS as oil Is dangerous.
Due lo the pandemic, the t&mple remained dosed in the momings bul on each Full and Moon the temple
still carries on wlth the Chanting ServKes vo online live streaming. Devotees can join in the Service in the
comfort of their own homes.
Volunteers
Although volunteers were unable lo come lo the temple during the lockdown, the resident monastics were able to
still able lo cover lh8 majority of tasks and duties. Volunteers gradually started returning to fuffil ¢Julies and tasks
sinc8 the templè began to open in Aijgusl. Directors of the charitable ttJmp8ny would like express their gratitude
lo the volunteer5, many of whom are devotees of L¢Jrtdon Fo Gueng Shan. for their continue Support of the
Dharma functions and activities during the pandemiG.
Page 4

INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK)
IA Company Llmltsd by Guarante•l
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2021
Volunteers cover areas as maintalning reception. cooklng the lunches for Sunday services, the sfjrvi
attendar)Is and the numerous people who assist in the preparation for the activities noted earlier. A prudent
estimate would be that the London volunteers, time from August 2021 until Decomber 2021 totsls over 5,000
hours (2020- Jan till mid-march.. 3.000 hours).
Based on thè Nallonal Mmiimum Wage rates of £8.72 (effective April 2020) and £8.91 leffeclive April 2021), thL8
equates lo a saved cost of approximalety £43,400 (2020 - £23,600J and does not include National Insurance
CDnlribulions. Our appreciation also goes out to the volunteers 8SS1St this temple in maintaining the IBPS
IUKI'S accounting records.
As ther8 Is rio reliable methryl to record volunteer lime, this intangible income has nol been recognSsed in thè
financial stslemenis.
Donatod Gooth
Despite the pandemic, we continu9 to bè amazed at the kind 98nerosily of our devotees. The reception area
fvll of merchandis8 for sale lo those who entsr the l&mpl8. Most of those Items have been kindly donated, and
thus. saving us thls ￿tlay. A rough estimatè of the goods donoled is approximately £1.000 (2020- £500).
F¢4)d has be8n kI￿llY donated lo sgrv8 after each service. OlheMis8, our food costs would bo substantlally
hlgh8T. A conservativg gslimate woukl be a figure of approximAlely £1.200 (2020- £600) for the year.
The donated goods in the year have not been Included as Incoming resources wlthin th9 Statement of Finar￿181
Aclivilies, as no definite measure can be made of these good$.
Our other aclwilies durfng Ihe year in¢luded'.
Education
A wid8 spectrum of courses is avallable lo all devotees al the lamp￿ that not onty raises awar8nes5 about
Buddhism. but also to educate the devotees in cultural matters. This year we wgre able lo test ovr devolee5'
knowledge when Buddhist Study exams were held in January.
Courses organlsed inGlude cfiline Dhamia courses, meditation classes, Sunday s￿01 for kids, Buddhlst cholr
class, dance dass and exorcise classes for the seniors. Our courses will continue lo be effectively free. where
nominal fees aré charged to cover teachlng material costs for example. and it will only cost us the preparation
time.
Profe$$lonals. monastK and lay advlsors from abroad have given lectures on IIfesty￿ matters. Toplcs hav8
covered a wide range of Snter8sling subjects including saving the environment, and Meditation arKI Llfo.
BLIA and YAD
BLIA is the lay Buddhist assoclation that Is afflial8d wlth Fo Guang Shan and YAD 15 the youth division. Du& lo
th8 pandemic, BLIA and YAD were unable to organise in-person events, however online events and gatherirwJs
lo ensure the welfare of memb9rs were regularly organised throughout the year. A few in person events were
held towards the end of the year.
The Local Communlty
Athough unable to hold or attend events in the community. we continued tu kegp in louth kjcal faith
organisalions and also offered concern to our neighbours during the pandemic.
Pag8 5

INTERNATIONAL BUDDHIST PROGRESS SOCIEfY IVK}
{A Company Limitod by Guaranto01
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
ACHIEVEMENTS AND PERFORMANCE
Even though the pandemic caused some inconveniences. we were able to cope by transfom)ing most activities
and services online. Not only wern we able lo slay conneGted Mth our existing devotees bul also able lo reach
out lo even more new people.
In order to make it more convenient for devotees to register for services and make donations. the temple stsrte
to use online regislralion forms and even implernenled and online payinenl syslem. In June, we also registewd
for a paypal giving fund a￿ount, hoping to make it more convenient for people lo make ¢*)nalions. This ha$
helped us bring the increase tho income back tt> pre-panéemic figures.
During the lockdown, the management have made improvements to the daily administrative dutie$ and reduce
time spent on paperwork and are Irwng to implement paperless working where possible.
REMUNERATION OF KEY MANAGEMENT PERSONNEL
Th8 r8munoralion of the Key Manag8menl Personnel is dgtem)ined by the Trustees annually and nomially
increased in aC￿rdance wth average eamlng$, consldering sector paraméters and benGhrnarks.
FUNDRAISING
Th8 charitable company confirms that they do nol outsource any fundraising activibes to 8 professional
fundraSser. Ajlhough th)nations are given by beneficiaries of th8 temple, the temple does not acllvely fundrarse.
AS such, the charitable company does not voluntarily adopt any fundrabsing standards.
FINANCIAL REVIEW
Since the start of the pandemic and lockdown in March 2020, the temple re¢8ivgd donation of masks from the
European branch temple5 for distribution lo our m8mbefS. hospital, school, churches and chartty org8nisali¢)ns.
Devotees were able lo join all the Dharffla and education programs from IBPS Switzerland (HQ for the European
Monasteries). Therèfore, Ihe Iruslees voted lo contribyte £500,000 donation lo Fo Guang Europe branch
temples lo help support and contributs towards costs of upgr8ding technic81 equipment for propaga￿n9 Dharrna
and for education purposes.
The £500,000 donated is included in the accounts as exppndrture on charitable activities and after m8klng the
donotion. we report a defictt on both funds of £24,035 for Ihe year, with a defi'cit of £128,493 on the unrestricted
fund and a surplus of £104,458 on the reslri¢l8d fund.
We hope that tha worfd can brlng the global COVID-19 pandemic under control soon, alk)wlng the templè lo fully
op&n lo devotses and general public. The unrestricted fuNJ Is carrying fotward a fvnd balance of £1,039.489 and
we will continue lo build uwn thi5 Positlon.
The trusle8s remain confldent In rgtaining thg continued support from The IBPS, Headquarter8 in Talwan and
Europe. as well as the devotees of lh8 London Fo Guang Temple.
Our financial positton is strengthened with the fund8 raised for the general repairs. and those remaining on the
Celestial Sounds 2003 Fund. Al the Balance Sheet dale. the restrided reserve stood at £412,545 y￿th £403.502
on the general repair fund and £9.043 on the Celestlal Sounds 2003 Fund.
RESERVES POLICY
The charitable company currently has ￿ reserves= unreslricled reserves contain funds whlch are available to
use at lh8 éiscretion of the trustees in furtheran¢e of IBPS {UK}'s objectives. restriGled reseNes contain funds
which have spectfic restr6ctions imposed by the donor or naluie ol the appeal.
To ensure the charitable company can remain operational. the m8n8gemenl committee 8ims lo attain a free
reserve of appr0￿matelY £250.000. This is lo ensu￿ that the temple continue lo run for al least one year
wthout re￿.ng on fvtur8 ftjnding. This year the free reserves being the unrestrKted fund$ mlnus the r￿e￿ assets
equal to £668,530 which is well above the level the management aims to attain.
Pag8 6

TERNATIONAL BUDDHIST PROGRESS SOCIETY IUKI
(A Company Llmtted by Gu•ranlee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
As at(syo the un￿Strt¢ted fijnd is carryin9 fO￿ard a batance of £1,039,489. The ￿mainIng rnser¥es wlll be u8ed
to meet the thritable ¢ompanls objedNes and missions. hjso. due to cov1￿19, the Temple LYJntinue to OFen
on 8horter hours and the ca)8ritabb ¢ompany might not able lo get grant from The National Lottery Herftage Fund
for the repair of the westem roof of the temple. Hence, il is prudent to malnlain a heaw reseNe In order to
ac*ieve Its objoclves and to me¢1 future expen8es.
PLANS FOR FLITURE PERIODS
After ¢ompl8bJ the repalr of tho e8Stem roof of the historical heritag• buudlng. the company is planning to repair
the we$tem roof11.e Ihe lemple sidel. A rough estimate of costs Is over mMlSon $tsrting pourK15 8nd wll ty lo
appty for fvndln9s from Natlonal Lottery Hwttage Fund.
A8 9lob81 Cov1￿19 pandomlc r8 Sttll not fjjlly under wntrol. concrete plans are dlfficult to project but wll
continue to organis8 hybrid events so that people can choose to joln Inyrson or online. The ¢harity wll continue
to irw&st in technology or necessary fac11￿8$ for onlin• propagatlon of Dharma.
As many volunteer5 have not been bxk at the témple 8ince lockdown, we will continue to njn tr81ning sessknn6
to help them to gel back to the routine of volunteering servlce.
INVESTMENT POUCY
In relation to the genetsl repair fvnd, the mney rai*J has been ￿a¢ed Into surtabie bank accounts to attro¢tthe
b￿1 ￿e of interest
The m8nagèment commiitee keep this polcy under review to make best use of existTng finandal rosour¢e&
report has been prepared in *cordanr* with the provi￿0￿8 applcable to companles subjeGt to thg small
companie¥ rEgime.
Approved by order of the Members of the Board of Trustegs and signed on their behalf by:
R•v. Poi Fen YVU
Page 7

INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK)
(A Company Llmllod by Guarnntwl
STATEMENT OF TRUBTEES. RESPONSIBILMES
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustee5 (who are also thé Directots of the Charitable Company for the purposes of company law) are
responsible for preparing the Trustees, Rep)rt and the financlal $18teThnis in aC￿rdance with applicab￿ law
and Untted Klngdom AccA)unting Standards Iunlted Klngdom Generaliy A￿pIed Accounllng Praclth).
C(xnpany law r•quiTes the Trvstse8 lo prep8re lInand￿ $talements for ea¢h financial year. Under company knv,
the Trustees myst not approve Iho financlal statements unless they are satisfied that they give a tsuè and fair
of the state of affalrs of the Chadtabk Conyany and of its incoming resour¢e$ and application of resources,
in￿dIng Sts Income and expenditure, for that period. In preparing thes• fln8ndal statements, the Trustee5 are
required to..
select suitable accounkng policies and th8n apply th•m consistently,
observe the method5 and principles of the Charilles SORP IFRS 102):
make judgements and accounting estimBtes that are ￿asonab￿ and prudent
state whether applicable UK Accounting StarKlards IFRS 1021 have been followed, subjer& to any materfal
departufes disdosed arvj explain8d in the flnan¢ial statèments,"
prep8Fe th8 financ￿1 slatem8nts ¢Jn the golng concem basis unless it is inHpproprfgts to presume that the
Charilabl8 Company wll contlnue In busln85S.
The Trustees aré responsiblB for keeping adequate a￿UnlJng records that ere SuffI￿ent to show and explain
the Charitable Company's transactions and disdos• with reasonable accumcy at any tim¢ the frnanaal posrtlon
of the Charitabk Company and enable them lo ensurè that the financial statements ¢omply the C¢)mpanies
Act 20C6. They are also ￿sponsible for safegtsarding the assets of the charilab￿ Company And herte for18king
reasonable steps for the prevention aftd detectlon ot fraud and other irregularili¢$.
ApF¥oved by crder of the Memb•r6 of the Board ofTrustees and slgned on its beh4f by.
Rev. Pol F
ang
026,/o.46kn
Pagè 8

INTERNATIONAL BUDDHIST PROGRESS SOCIEff (UK)
(A Company Llmited by Guarante9}
INDEPENDENT EXAMINERE REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Ind•pendent Examinevs Report to the Trusts&s ol Int•matlonal Buddhist Progr•ss Society (UK)
(Yhe Charitable Company?
I report lo thè Charfly Truste0$ on my examination of the accounts of th6 Charitable Company for Ihè year ended
31 December 2021.
Responsibilities and Basls of R•port
As the Trustees of th8 Charitable Company land its Directors for thè purposes of company lawl you are
responsible for the preparation of the a￿UnIS in accordan￿ with the requirements of the Companies Act 2006
I'lhe 2006 Acf).
Having satisfied myself that the aC￿unts of the Charitable Company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the
Charitabl8 COmpan￿S a￿OUnts carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In
carying out my examination I have followed the Directions given by the Charity Commission under section
14515llb} of Ihe 2011 Act.
Ind•yndent Examlnorf8 Statement
Slnce the Charitable Companls gross income exceeded £250.000 w)ur examiner must be a member of a body
listed in se¢tion 14S of the 2011 Act. I confirm that l am qualrfied lo und6rtake the examination be¢aus@ l am a
memb8r of The Institute of Chartered A￿un￿￿t8 in England and Wales. whith is one of the listed bodies.
I have completed my examlnalion. I confimi that no m8tters have come to my attention in connedion the
examinalon glving me cause to bdieve=
a¢eounting r8u)rds were not kept in respect of the Chatilable Company as iequired by sèction 386 of the
2006 Act. or
lh8 accnunls do not ac￿rd with those records., or
the accounts do not comply y￿th the accounting requlrements of $gciion 396 of tho 2006 Act oth8r than
any requirement that the 8ccounts give a Irue and foirf view whSch is not a matter consNdered as p8rt of
an indepndent examination., or
the accounls have not been prepared in accordance wrth the meth¢xis and prinGiples ol the Statement of
Recommended Practice for accounting and reports.ng by Charit￿s applicablg to charities preparing their
accounts in accordance with the Financlal Reporting Stsndard appliGabl6 In the UK and Republic of
Iroland {FRS 1021-
I have no eon¢ems and have come across no other matters in coftnection with the examination to which
8ttenlion should be drawn In thls report in order lo enable a proper understsnding of the accounts to b8 reach8d.
Slgn8d:
Dated.. 2711012022
Stuart McKay BS¢ FCA DChA
MHA Maclntyre Hudson. 6th FI￿r, 2 Lon¢kn Wall Place. London. EC2Y SAU
Page 9

INTERNATIOPIAL BUDDHIST PROGRESS SOCIETY {UKI
(A Company Llmlted by Guarantso)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2021
Unr•strlclod
frjnds
2021
R6$trlctsd
funds
2021
Total
fvnds
2021
Total
funds
2020
Not8
Income from:
Donations
Charitable activities
Other Ir8ding activitl8S
Bank interest receivabl8
57,533
428,940
6,281
105.269
162.802
428,940
6.281
28
131.964
211,479
4.730
219
492,754
598.051
348.392
Total Incomo
Expend1￿19 on:
charitab￿ aclivili
105,297
021,247
839
632.086
227.309
839
221.309
Total eX￿nd[tur•
621.247
622.086
{128.493)
104.458
{24.0351
12T.083
Net movernont In funds
Reconciliation of funds:
Total funds brought forward
Net movement in fun¢Js
1.167.982
(128.493)
308.087
104,458
1,476,069
(24.0351
1,348,986
127,083
1.039.489
412.545
1.452.034
1.476.069
Total funds carried fornard
Al income and expenditure derive from conllnuing actmties.
Thg Statement of Flnancial Acb'vib'es includes all gains and losses wogrised in the year.
The ncrtes on pages 13 to 26 fomi part of these financial statements.
Page 10

INTERNATIONAL BUDDHIST PROGRE88 SOCIETY IUKI
IA Company Umitgd by Guarantee)
REGISTERED NUMBER: 02724500
BALANCE SHEEr
AS AT 31 DECEMBER 2021
2021
2021
2020
2020
Fixed assets
Tangib￿ asse15
Curyont amets
10
370.969
392,693
Debtors
Cash at bank Bnd in h8nd
11
15.304
1,276,680
17,367
1.138,152
1,291,984
1.155.519
Creditors: amc4mts falling due wilhin cffje
year
12
1210,9091
(72.143)
Not current assets
1.081.075
1.083,376
Total ass•t81oF6 ¢iirrent liabllStle8
1.452A34
1.476.069
Totsl n•t a6$9t$
1h52,034
1,476,069
Ch•rlty fund*
Rgstrlcted fuThJs
Unrestrtcted (￿dS
13
13
412,545
1,039,489
30a087
1.16T.982
Totsl fund8
1,452,034
1.476.069
The Charltable Compary was an￿ to éxemptlon from audh under sectlon 477 ofthe Companigs Act 2006.
Tho members have not requirod the cotroany to obtaln an aud]t for the year In qu•stiDn in accord8nee w
secth)n 476 01 Compan18s A¢t 2006.
The Trustees a¢knowl¢dge thèir r8sptsn3lbllities for wmptying with the requirements of the Act with respect to
nting records and preparation of financLg1 ststements.
The financial statements have been prepared in accordance wNh th¢ provi5iQn5 applicable to entlfjes subfvct to
the sm?11 companies regime.
ts were appmed and
Thefin8
horFs8(I for issue by the Trustees and signed on tslr beh81f by..
Rev. Pel F
Date:
The noteg on pages 13 fr) 26 fom part ol these financial ststem¢nts.
Page11

INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK
(A Company Llmlted by Guarantè•)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Not•
Ca•h flows from opernting xtlviti•s
Nel cash used In operalnj adivilles
15
139,954
(142,506)
Cash flows from Inve$tlng activhles
Interest received
Purchase of tangible fuod assets
28
{1,454)
219
10
(1,290)
Not cash used In Investing actFvltl•s
11,4261
{1,0711
Change In cash and Cash •qufvalgnt¥ In th• y•ar
Cash and cash equivalents al the beginning of the year
138,528
1.138.152
(143,5TI}
1.281.729
18
Cash and cash equival•nts at tho end of the year
16
1.276,680
1.138,152
The notes on pages 13 to 26 fom) part of these financ4al ststements
Page 12

INTERNATIONAL BUDDHIST PROGRESS SOCIETY {UK}
(A Company Llmlted by Guarantsel
NOTES TO ThE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
General infomiatlon
Intemalional Buddhist Progress Society (UK) is a charitablè eompany and is règlslered wilh the Chartty
Commission {Ch8rity Registered Number 10235751 and Règistrar of Companies Icompany Registratw)n
NurTbb8r 027245001 in England and Wales.
In the evènl of the Charity belng wound up, the liablllty in respect of the guarantee i8 lim[t￿l to £1 per
member of the Charity.
The addrèss of Ihe rggislered office is given in th8 Chanty Information on page 1 of Ihase financial
ststements. The nature of the Charitys operations and prlnclpal adiviles ar8 a5 detailed In the Tru5tees'
Annual Report.
Accounllng pollcles
2.1 8a618 of preparatlon of flnanGlal $tatements
The finarri81 sla19ments have boen prepared in accordance with tho Chorities SORP IFRS 1021-
Accounting and Reporting by Charities= Slalement of Recommended Practice applica)le lo charities
preparing their accounts in accordance with the Financial Reportin9 Standard applicable in Ihe UK
and Republic of Ireland IFRS 1021. the Financial Reporting Standard applicaNe in the UK arn
Republic of Ireland {FRS 102) and the Companies Act 2006.
Inlernatlonal Buddhist Prf4r8ss Society (UK} meets the definition of a public benefit entity under FRS
102. Assels and liabilities a￿ inf(ially re￿gnised ot historical cost or tr8nsactlon value unless
oth8rwise stsled in the relevant accounting policy.
The financk?I ststemenls are prepared cm a going con¢ern basis under the historical cost conventh?n.
modtfied to include certain items at fair value.
The fir￿n¢la[ slalém8nls are presenled in sterllng whlch is the function81 currency of the Charity and
rounded lo the nearest pound.
The signthcanl accounting pollcles applied in the preparation of these financial statements are set thjt
below. Thesb Fx)lides have been conslslenlty applled to all years prasented unless otherwlse stated.
2.2 Going ￿ncern
The financtal ststements have been prepared on a going coneem basis. The Trustees have
considered relevant infomiation, including the annual budget and forecast future cash flows for 12
months from aulhorising these financial slalements. Th8 budgeted income and expen(lilure is
deemed lo be sufficient with the level of res8rves for the Charitable Company lo ￿ able to ry)ntinue
as o going concem.
Page 13

INTERNATIONAL BUDOHIST PROGRESS SOCIEfY {UKI
(A Company Llmlted by Guarant90}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting poll¢l•s {contlnued)
2.3 Incomè
AJI income is racognised ￿¢8 the Charitable Company has entitlement to the Incom6. 11 Is probable
that the in¢omo will be received and tho amount of income rec8lvabl8 c8n be measured reliab￿.
For donation$ to be recognised Ihg Chanty wlll havo been noltfied of the amounts and th8 settlernent
date in writing. If thère are conditions attached to the donallon and this requires a level of
perf0m￿nCe before ontitlemenl can be obtained than income is defèrred until those condition8 are
fully met or the fulfilmgnl of those conditions is ￿thin the control of the Charity and it is Probable that
they will b8 fulfilled.
Income from trading activities indudes income eamed from fundraising events and trading activiknes
lo raise funds for the Charity. Income is received in exchange for supplwng goods and services in
order lo raise fvnds and is recognised when enlillemenl has occurred.
Inlorest on funds held on depo811 is included when receivable and the amwnt can be measured
reliably by the Ch8rity' this is normally upon notifution of the interest paid or payable by Ihe Bank.
2A Expendltur8
Expenditure is recognisod once the￿ is alegal or constructive obligation to transfer economic b8nefit
to a third party. it is probable that a transfer of economic benefits wll be required in $8ttPement and
the amount of th8 obligatlon can be measured r8liably. Expenditure18 classlfied by actiwty. Th6 costs
of each activty are made up of the lotsl of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable lo a single actlvity are alloca18d diredly
to Ihal activlty. Shared costs which conlribuig lo more than one activity and support costs whith are
not attributable lo a single a¢tlvity are apportioned betsveen thos8 activities on a basis consislent
the use of rosour¢es. Central staff costs are allocated on the basis of time spent, and depreciation
tharges allocaled on the porllon of the asset's use.
Expenditure on charitable adivities is incurred on directly undertaking the activities %thich further Ihe
Ch8ritsble Compatys objectives, as well as any as50¢ialod support costs.
All oxpenditure 15 indusive of irremrable VAT.
2.5 Tox•llon
The Charitable Company is considered to pass the lesls Sel out in Paragraph 1 Schedule 6 of the
Finance Act 2010 and therefore it meels the definition of 8 charitable company for UK corporation tsx
purposes. Accordingly. the Charitable Company is potentially exempl from taxation in respect of
income or capital gains received within categories covered by Chapter 3 Part 11 of th8 CorporalDn
Tax Act 2010 or Section 256 of the Taxalion of Chargeabk Gains Act 1992, to Ihe extent th8t such
income or galns are applied ex¢luslv8ly to charitable purposes.
Page 14

INTERNATIONAL BUDDHIST PROGRESS SOCIETY {UKI
(A Company Llmlted by Guarantsg)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Aceountlng pollclo8 I￿ntin￿Od
2.6 Tanglbl& flxed assets and d•preciation
Tangible fixed assets costing £500 or more are capitslise(l and recognlsgd wh8n future economic
benèfits are probable and the cost or value of Ihe asset can be maasur8d reliably.
Tangiblg fixed assets are initially recogni$8d al cost. After recognition. under the cost model. tanglble
fixed assets are measured at cost less ac¢umulaled depreciatlon and any accurnulaled Smpaimient
losses. All costs incurred to bring a tanglble fixed asset into ￿S inlended working condition should be
induded In the measurement of cost.
Depreciation is charged so as lo allocate Ihe cost of tangibLg fixed assets less their residual value
over their estimale(l u￿(U1 Ives. using the slraight-line method.
Depreciation 1$ provided on the following basis..
Freehold propety
Fixtures and fittings
Office equipment
2¥• Slrai9h14ine
15% slraigh14ir
15°h straighl.line
2.7 D•btors
Trade and other debtors 8r$ recognised at the settlamonl amount after any tra(le discount offered.
Prepayments are valued at tho amount prepaid ng1 of any trade dlscounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and shOrt-t9￿ highty ￿quid invoStm8nts with a short maturfty
of three months or less from the date of a¢qui$rtion or opening of the deposit or similar account.
2.9 Llabilities and provisions
Liability8s are re¢ognised when ther& is an obfigation al the Balance Sheet dale as 8 resuA of a past
event, il is probable that a transfer of economi¢ benefit will be required in settlement, and the amount
of Ihe settlemenl can be estlmaled reliably.
Liabilities are recognised at the amount that the Charitable Company anticipates it wll pay to setlle
the debl or the amount il ha$ rtt6ived as advarted p8yments for the goods or servicos it musl
prowde.
Provisions are measured at the best estimate of th8 amounts requlred lo settle the obligation. Where
the effect of the time valu8 of money is mal8rio1, the provision is based on the prasènt value of Ih05e
amounts, discounted at the pre•tax d5￿Unt rale that relects th8 risks specrfi¢ lo the liability.
unwinding of the discount Is recognised in the Statament of Financial Activities as 8 finan￿ cost.
Page15

INTERNATIONAL 8UDDHIST PROGRESS SOCIEfY IUKI
IA Company LlmSt•d by Guarants•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting pollclos {¢ontlnuedl
2.10 Flnanclal instrumènl$
The Charitable Company only holds basic Flnancial Instruments. The flnancial assets arKI finaniial
1Sabilities of the CharilablB Company ar8 as folkjws:
Debtors- prepa￿￿ents are not financial instruments.
Cash at bank- is classifigd as a baslc financlal instrument and Is measurod at face valua.
Liabilities - fundraising for European branches, accruals, amounts owed lo rekled party, and olher
creditors will be classified as financial instruments. and are measured at amortised cost as detsiled
In Note 12.
2.11 P•nsion
The Charitable Company operat¢$ a defined conlribulion pension scheme and the pension charge
represents the amounts payable by thg Charitable Company lo the fund in respect of the year.
2.12 Fund a¢¢ounling
Gener81 funds are unrestricted funds which are availabl6 for use al the discretion of thè Trustees in
furtherance of the gèneral obj6dlv8s of the charitab￿ Company and which have not been
designated for other purposes.
Restricted funds are fvnds whSch are tr) be used In accordance with speclfi¢ rostrictions imposed by
donors or whkh have been raised by th8 Charitable Company for particular purposes. The costs of
raSsing and adminlslering such funds 8re charged against the specific fund. The aim ond use of each
restricted fund is sel CMJI in the notes to the financial statements.
Inv8Stment income, gains and bsses are allocated lo the appropriate fund.
Page 16

INTERNATIONAL BUDDHIST PROGRESS SOCIEry {UK>
(A Company Llmft•d by Guaranto•)
NOTES TO ThE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Incomo from donatl¢ns
Unr•slrlctèd RestrfGtgd
funds
nds
2021
2021
Total
funds
2021
General donatfion8
General repair fund
57.533
57,533
105.269
105.269
57.533
105.269
162,802
Unrestncted
lunds
2020
Rgslricted
funds
2020
Total
fvnds
2020
General donations
General repair fund
52,236
52,236
79,728
79,728
52,236
79,728
137,964
Income from charitable a¢tlvlti•s
Unrestricted
fvnds
2021
Total
funds
2021
Tolal
(unds
2020
Dhamia functions
326,023
102,917
326.023
102.917
163,137
48,342
Funeral servic68
428,940
428.940
211,479
Total 2020
217,479
211,479
Pag8 17

INTERNATIONAL BUDDHIST PROGRESS SOCIE￿ IUKI
(A Company Llmlted by Guarantm)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Income from trading a¢tlviti•s
Unre$trlct8d
fund$
2021
Total
fund$
2021
Tolal
funds
2020
Recepllon sales
6,281
6,281
4,730
Total 2020
4,730
4,730
Analysls of oxp•ndlture on ¢harltablè actlvltles
A¢tivitle$
ndertaken
dlrectly
2021
Support
Costs
2021
Total
funds
2021
Charitable adiviti9s ladvancemenl of religion)
611,046
11.040
622.088
In 2021, there was £621,247 of unr8Strfcled expenditur8 on charltoble activiknes and £839 alh)cated lo
restricted funds.
Actlvhles
undertaken
direclty
2020
Support
costs
2020
Total
funds
2020
Charitablè actIV￿eS ladvancem?nt of religion)
207. 179
14, 190
221.309
In 2020, there was £152,712 of unrèstricted expenditure on charttable adivrtles and £68.597 alloeate(J to
reslrfcted fund5.
Page 18

INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK)
(A C¢)mpany Llmitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Analysis of ?xp•nditure on charitable activities Icontlnuodl
Analys1$ of dlrect costs
Totsl
funds
2021
Tot
lunds
2020
staff costs
28,653
23,188
12,760
21.333
31.970
34.562
10,917
21.430
Depreciation
Dhamia functi0ft8
Property costs
E- ij
Insurance
Travel ex￿nseS
Overhead costs
Advertising and promoti¢)n
Sundry expenses
Donations
Roof Repairs
Educational project
8,485
729
12,982
1,399
1,517
9.019
2,818
13.267
1.200
2,010
300
68.477
11,149
500.000
611.046
207,119
The £500,000 contribution for educational project is a grant and mcTr details can be found in the
Trustees report.
Analysis of support ¢ost8
Total
funds
2021
Total
funds
2020
Bank charges
Governance
3,370
5,670
4,132
10,058
11,IMO
14.190
Page 19

INTERNATIONAL BUDDHIST PROGRESS SOCIETY IUKI
{A Company Limil•d by Guaranto8)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Governance Costs
2021
2020
Bookkeeping - current year
Independent Examination and preparation of the financial slatemenls
Legal and professional fees
755
3.300
1.615
817
3.240
6,001
5.670
10.058
Stsff costs and •mploy•e b•n•fits
2021
2020
Wages and Salaries
Contrfbullon to defined contr1t￿tIon pensicfft schemes
28,OlX
653
31.250
720
28.653
31,970
The average number of persons employed by tho Charflabla Company during tho year was as follows..
2021
No.
2020
Employees
No employee r8ceivpd remuneration amunting to more than £60,000 in either year.
The total amount of employee benefits receivèd by Key Managernenl Personnel was £28,653 (2020 -
£31,970)- The Chanty considers its Key Management Personnel comprise.,
Trustees
Public Affairs Manager for Education
Trustees. remunoratlon and expenses
During the yoar, no Truslees received any romuneration or other benerrts (2020- £NIL).
During the year ended 31 Decgmber 2021. no Trustee expenses have been Inwrrèd 12020- £NIL).
Page 20

INTERNATIONAL BUDDHIST PROGRESS SOCIETY {UKI
(A Cixnpany Limltod by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
10. Tangible flx•d assets
Freehold Flxlures and
property
fittings
equipment
Total
Cost or valuation
At 1 January 2021
Additions
858,824
293.686
1,025
40.718
429
1,193.228
1,454
At 31 December 2021
858.824
294.711
41.147
1,194.682
DeP￿latiOn
Al 1 January 2021
Chorge for the year
475.787
17.176
289.398
2.707
35.350
3,305
800.535
23,188
At 31 December 2021
492.963
292.105
38.655
823,723
N•t book valu•
Al 31 December2021
365.861
2.606
2.492
370.959
Al 31 December 2020
383.037
4.288
5,368
392,693
11. D•btors
2021
2020
Dug withln on8 year
other debtors
Pr&payThenls an(1 accrued Income
1.826
13.478
2.590
14.777
15.304
17,367
Page 21

INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK)
IA Company Llmltèd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
12. Cr•ditors: Amounts falling due withln one year
2021
2020
Other taxallon and soclal security
Fundraising for European blanches and main mon8tery
Accruals
2,260
205.349
3.300
68.903
3,240
210,909
72, 143
The Charrtable Company CO1￿Cts and distributes donatlons cm behalf of other branch temples and the
rnaln monastery.
During the year ended 31 tkcembèr 2021 the Charflable Company w1￿cted £199,108 (2020
£202.003) and dlslributed £62,662 (2020 - £251, T76) from the fund. this 15 not included within incom8
and expendlture. An amount of £205,349 (2020 - £fj8.903) is included wtthin 'Cr8dilors.' Amounts falling
ue within one yearf relalSrvJ lo undistributed funds that are repayable lo other brnnch temples and thè
main monastery.
Pagfr 22

iTr¥rERNATIONAL BUDDHIST PROGRESS SOCIETY {UK}
{A Cornpany Llml¢éd by Guarant•g)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
13. Stat•ment of lunds
ststemont of funds - current y•ar
Balance at
31
December
2021
Balance ot 1
January
2021
In￿mI Expendlture
Unrostrl¢ted funds
General funds
1.167.982
492.754
1621.2471 1,039,489
Restrl¢t•d funds
General repair fvnd
CelestSal Sounds Concert 2003
299,044
9.043
105.297
18391
403.502
9.043
308,087
105.297
18391
412,545
Total of fvnds
1.476,069
598.0S1
1622.0861 1,452.034
Unrestricted funds are general fvnds which ar8 availat48 for use at the disfxetion of the TfU$tees in
rtherance of the general objectives of the charity and which heve not bean designated for any other
purposes.
The Celestial Sounds Concert 2003 fund was set up in 1999 for the sole purpose of supporting the
Engllsh leg of a worfd tour of the18PS Choirto promote Buddhism using music. The 1999 Concert was $0
successful that the lunds were raised lor another tour in 2003 bul was cancelled duo to the SARS
epidemic. Funds Gontinue lo be held for the possibility of another Ioiif in the future.
The G8n8ral Repair Fund was set up in 2000 to lund th8 program of repairs around Ihg tample. Th8 fiisl
major repalr was for the replatement of a leakng roof. followed by much small8r repalrs around the
temple. Funds 8r8 held for the continuing pr(y3ram of repalrs as and when requlrod.
Page 23

INTERNATIONAL BUDDHIST PROGRESS SOCIETY {UK)
(A Company Llmlt•d by GuaTants•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
13. Ststement of funds l¢0ntSnued)
ststemgDt of funds - prior yaar
Balanc8 èt
31
DeGgmbor
2020
Balance al
1 January
2020
Income Expenditure
Unrestrl¢t•d fundb
General funds
1,052.249
268,445
{152,712) 1. 767.982
Restrictod ￿ndS
General repair fund
Celestial Sounds Concert 2003
287.694
9,043
79,947
f68,597)
299,044
9.043
296, 737
79,947
(68,597)
308,087
Totsl of funds
1,348,986
79.947
(221,309) 1,476,069
14. Analysis of nat assets betp￿en fund8
Analy$is of n8t assets betwoen funds- currenl yoar
Unrestricted Restricted
funds
funds
2021
2021
Totsl
funth
2021
Tangl￿e fixed assets
Current assets
Creditors due wf(hin Ly)8 year
370,959
879.439
1210.9091
370.959
1,291.984
1210.9091
412,545
Totsl
1.039,489
412,545
1.452,034
Page 24

INTERNATIONAL BUDDHIST PROGRESS SOCIETY IUKI
{A Company Llmlted by Guarants•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
14. Analysls of Mt a$50ts betwo•n funds {continuedl
Analysis of •s80ts between funds - prlor year
Unrestricted
fvnds
2020
Rgslii¢ted
fvnds
2020
Total
funds
2020
TangitrA8 fued assels
Cu￿eftt assets
Creditors due within one year
392,693
847,432
(72,143)
392,693
1,155.519
172, 143)
308,087
Total
1.167.982
308,087
1,476.069
15. Reconclllatlon ol not movement In funds to not cash flow from op•rating actlvltles
2021
2020
Nel incomele￿nd4l￿re for the year las per Statement of Finon¢ial
Activities)
(24,035)
f 27,083
Adju8lmonts for:
Depreciation charges
Interest rec6Sve(J
Decreasellincreasel in dgblors
Increasel{decrease) in crgditors
23,188
(28)
2.063
138,766
34.562
(219)
(5. 122)
(298.810)
11
12
Nel cash provided byllused in} operating actlvltlès
139.954
(142.506)
16. Analysis of cash and cash ¢qui¥alents
2021
2020
Cash in hand
1276.680
I, 138.152
Totsl Gash and ca$h •qulvalent8
1276.680
1. 138,152
Pag8 25

INTERNATIONAL BUDDHIST PROGRESS SOCIETY IVK)
(A Company Llmited by Gu•rant•8}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
17. Analysis of Changos in net debt
At31
Doc*m￿r
2021
January
2021 Ca8h flows
Cash at bank and in hand
1,138.152
138,528
1.276,680
1.138.152
138.528
1.276,680
18.
Rolated party trnnsactions
Thè Charitable Company has not entered into any related party transaction during the year. nor are there
any outstsnding balances owing between related parties and the Charilabte Company al 31 D8cemb&r
2021.
Pagtr 26