2021-03-31-accounts

Charity number: 1036969 Company nLJmber'. 02914872 (England and Wales) True Buddha School Limited Report of the Directors and Unaudited Financial Statements For the year er)ded 31 March 2021 IIRI 111 AbOJ6JB7 2510312022 COMPANIES HOUSE

377.

True Buddha School Limiled Conlents Page For the year ended 31 Marth 2021 Rep)rt of Ihe Dwe¢lo 1193 Inde￿ndent Exarrinerfs Rew1to the (reclUS Slatemertof Financid A¢￿￿￿eS Slaternent ol FinarKk81 P0S￿Dn Note5 to the FinuKk81 Ststsments 7t0 11 oela1￿ alemenl of F￿￿￿1 12

True Buddha School Limited Report of the Directors For the year ended 31 Marth 2021 The Director5 have pleasure in pre5entpry their reFrf)rt and the financial sts1ern￿ts for the charitatle ctrnpany for thtr yeaT ended 31 Mar¢h 2021. The Director5 have adopted the pro￿5￿jn5 of A¢ctNJnts"rTg Repoiting by Charilies.. Stslement of Recornrnende Practi￿ applrable to charibes preparing Ih'r aecounts in actordan¢e wmlh Ihe FmrK4al ReFtyb'ng SlarKlar￿&bre en￿￿ment for mèmbors of lh• School 10 worship. 8tuty and practise Buddhism. Th8 Injslees are satlsfied wilh Ihe pr￿r￿ of actith ¢Ywised lyy Ihe SCW IhrowJhtyJt year ar￿ the supwt from the School members for the aetivitie5. FINANCIAL REVIEW The dwectws are salisfiod ith ts fina￿1 ofthe Chwrty as al kne year ￿￿. ￿SuIts ofthe ye¥$ opernlh)ns a￿ sel out In the attached financial ststernents. The net uNe5tricted incorne for the yew amounted to £ 8.480 12020.. £82,591}. The retained unr¢slricted reserves al Ihe year end to¢al to £2.201.286 {X)20." £2.l92.8r￿i. It is the policy of the charity that ￿n￿Stricted funds whth have not ten designated for a spetsfic use should be maintskned at a level equivalent to be￿een three and six mcfith's expenditu￿. The directh Cor6￿ that reseThes at thi$ level will ensure that. In the event of a significant drop in funding. they *ill be abk lo cOntirM￿ the ctrwWs ojrrent activities wh48 consideration is given to Ways in whi¢h additional funds may be raised. This level of reswves has been rnaintai￿d thr￿JgI￿￿t the year. The twsiees have ¢on$thred Ihe mosl appr(yiate tKAiw tr A)veslry funds. Tr Charity Iw a ¢Y keepiw Suff￿lent IKJiiO lunds in a bank dep05il acctyjnl wh￿h can b8 accgssed readily to rmelopgrakng cost emergewes. The trustses have asse55ed Ihe mw iisks to the sth￿l is eXr￿d. satisfied that Sy5tem# are in F4ace lo M￿jgate exposLrre to th8 major rssks. lof12

True Budtha School Limited Report of the Directors Continued For the year ended 31 March 2021 STRUCTURE, GOVERNANCE AND MANAGEMEt4T Gov•rning docum•nt Th• charity corryany lirnited try guarantee aThJ it has share cptsl. The diredors %%tho served duri￿ Ihe yearwwo.. MtsASWLi FHSTw9 LMTU None of the direc10￿ has bEneficial interest in Ihe ¢(vwy•ty. AK of Ihe thredtys are membws of tha company and guarantee to conbibule £1 ble event of 8 inding LIP. The companls eurront poky concen¥rrfJ Ihe paYrn￿t of trade cr•thiNS is to fthi the C8fs Prompt Payer5 Code (copies are availabk from the CBI, Cen1￿ Point, 103 Nerf Oxford St¥eet, LoTrJon WC1A 1DUI. The cAMnpan￿s ¢wefii kK4i¢yc4)rtcemin9 the Pa￿￿ent of trade is kn.. . settle the te￿5 of payrnent wlh 5upplers agreeirMJ the terms of each iransaCb￿. • ensu￿ tha¢ suppliers a￿ m•Je awa￿ ol the temis of payment ol Ihe I8¢w￿t tenn5 in contrdcts,. and ' pay M ae£or¢Yarth wth Ihe wipanys wtractu other18gal oblwJal•)n& Trade crtditors of the (KKnpany at the ye¥ were 9(wiva￿nI io 30 purdwses. bosed C￿ averay• daly ary￿nI invoiced by $UPF4iers thjring the year. Tho day to day affaiF5 of Ihe Charity are rtHrwd by the tr￿. aci as dir￿ of the cornpany and may ex8rci5e all the powers of the Charity. No tnJ81ees r8cew¢d any remLm8ratM for th&r SeTh￿S Ihe yew. As$et covef for funds The School's hs$els are sur￿ent to meet the Charitys ¢lyabor6. The directors. r eFth was approved by Ihe Board ol Directus. REFERENCE AND ADMINISTRATIVE INF(IRMAT1014 Namo of Charity Charity rggi$tration nurnb•i Company r•gl8lratlon number PTIn¢1p￿ 4d•ss 1036989 02914872 265 wille$d￿ Dlrectors The direclors of ts tharitable u¥mpany are ils trw8tees the purFW of charity l•. The IIVSl8e5 officets serving dufvy the yeètand $in¢ Ihe yew erKI as folk￿￿.. Anna SlA Wah Li Fri Hon Shw Tary Le Mith Tu Independonl 0xarnlnorJ Skne & Co LLP N¢wkn Rogd 2cI12

True Buddha School Lirniied Report of the Directors Continued For the year ended 31 March 2021 Approved by the Managemenl Comrnittee and %gned on its bew ty Anna Shuk Wah Li Directop Date.. 3of12

True Buddha School Limited Independent Exarniners Report to the Directors For the year ended 31 March 2021 I report lo the my exarninab.on ollhe fift￿81 statem￿ls01Tnt Buddha schl￿ Llmited (tho ' charity) for the year end¢d 31 March 2021. R•sponslbilitles and basis of report As Ihe directots of the tharity land so its ¢)we￿S fLV Ihe of r•mpary l•) are reSFonsibfe ts the preparatb)n of Ihe financial statements in accordance Ihe requirements ofthe Cornpar485 2006 (the 2Cth kll. H8ving satisfieé mysew that the fina￿la1 slatements of Ihe thanty are Tequred to be audit￿ under Part 16 of Ihe 2006 Ad and are t1￿1ble for independent examination. I reFt in ￿Spect ol rny Èxaminaty) of the chonty's finartial statements carried out under section 145 of the ChariDe5 A¢1 2011 Ilhe 2011 Act) . In canyir¥ oul my exwymnabon I have fOlkh￿ all Its appI.￿ab￿ Oirecbons given by the Charity Commissw ￿￿er sectKn 145(51(bl oflhe 2011 Act Ind¢pend•nt •xJmin•rs qualifd $t•tem•nt I confirrn that m ther rnattws have rLwne lo my alterwyyi ￿ c¥Mnecixfi wAlh the oxamThttil me 10 believe Ibat in any material respect.. 1. accoM￿n9 records We￿ nol kept in r88wcI ol the Cfympany as by sectim 386 of the 2(% Act,. or 2. the a¢cwnlS do not accord ￿ those records". or 3. ihe 8ccLxJnts do nol comk4y ith the requiremenls of seuiJn 396 01 Ihe 2006 A¢tothof Ihw any ￿QUit￿l Ihat the give a W8 and lalr V￿¥ Th)ta mattercorksidwed as part oran indeF7denl &AamInat•￿,. or 4. Ihe ac(x)uThts have not been prepared in wxdantè ith the meiws and ptincs of lh& Sl￿nI of R¢comm8rxled prad1￿ for accL>untin9 and reporlry by charities appl'cable to tharibes prepwir¥J lkn tcrtJnts vith Ihe Finanrial Reporting Sts￿da￿ applicable in th¢ LIK and ReWbI￿ of Ireland IFRS 102). l eonfiFrD Ihat there are no othEr matters to yw 5hLxAd be dravm to •nailB a pro￿1 under*wding ol the a￿Ounts to be ￿aChed. Sloane & Co LLP 36. 38 We5thoume l>ove Newton Road London W2 SSH 4of12

Twe Buddha School Limited Statement of Financial Activities {induding Income and Expenditure Account) For the year ended 31 March 2021 Ilotes Unr•stri¢t•d 2020 In¢om• and endowm•nts froffl: Donatws and legacies InveSt￿ntS 115.619 220 253.072 545 Total 115.839 253.617 Expenditur• on- RaiS￿g funds Charitable acts"vi¢ie$ Totsl 195,616} 111.7431 {107,3591 181,0671 {89,9591 1171.026 hl•t Incom¢ Recon¢lllatlon ot funds Total fiJnd5 broughl f￿ Total fubth carri•d f•rnT•rd . 8A80 82.591 2.192.806 2201.286 2.110.215 2.192.806 5of12

Registered Numb8r'. 02914872 Tnje Buddha School Limtted Statefnent of Financial Posttbon As at 31 March 2021 2021 2020 Flxed assets Tangible assets 10 1.082,122 1.082.122 1,120,949 1,120,949 Current as80ts 06blors Cash at bank and irt h 343,994 793.866 1.137.860 118,696) 343,994 745,214 1,089208 117,3511 Crodltors: arnounts f•lliry du• Tlthin on y•¥r 12 Not ¢wrnnt a8s0ts Tot•1 •ss•t8 I￿9 euTh•nt Ilablllties 1,071,8S7 2.192,8Q6 2.201.286 N•t èsvts 2,201,286 2.192.806 Th• funds of lh• ¢h•rlty UnrestrKted irKL4Te tund5 2,201,286 2.201.286 2,192.806 2.192.806 Tolal fvnds For Ihe year ended 31 ma￿ 2021 the company was ¢y)bOed to elenwtic￿ ftom seclirm 477 of Ih8 Companies Aei 2006 relating to 5rnall Compan￿$. The ￿￿rt)erS have required the cwnpany to rA)laiTr an audtt ofits aCo￿ts the yegrin question in accor4Jw( wilh se¢tton 476. The direct(n aCknOw￿ge their responsibdrfies f¢y COrnFtyfftg the requirements of the respect lo a¢ix)uThtin9 records and the preparation of acts)unis. These accounts have been ￿pared n ¢X)rdar￿ Ihe Pro￿S1On5 applic4Je to compan¢e5 5ubjeei to Ihe smal tA)mpaniÈs' regime. The fin8rKial staIeff￿ts wer& approveil and 8o¥d aThJ 5iyned on ts behaKty. Anna Shuk Wati Ll Dwectof 6(A12

True Buddha School Limited Notes to the Financial Statements For the year ended 31 March 2021 1. A¢¢ounlln9 Policles Basls ol accounting The financial slalernents hawj te8n prepa￿d uThYer Ihe IW510r￿ tosl convenbcffi, except for inv8Stments whth are irKlJded al rnarket value and Ihe ￿valUation of certain fixe¢ assets al￿ in aC¢¢ydar￿ wth Ihe Charitie5 SORP IFRS 1021 'AcciJJnling and Reporting by Charities.. Statement of Aewrnr￿nded P(a¢tif apr4￿ab￿ io roritses preparing their a¢¢ounls in accordance with Ihe Financial Reporting Slandard apF4￿ab￿ in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,, Financial RetKJrtiThJ StaThJard 102 Ihe Fw)an(ial Rew"rKJ Stsndard aprAt<atle in Ihe UK and RepU￿"C of IreLand IFRS 1021. and the Companies A¢1 2006. True 8uddha Schcd L¥rwtsd meets ts dpfinilbjn of a publK benefit enbty uNler FRS 102. Assets and Trab￿.1￿ are Initslty rewnised al historical cosl or traTrsacbc￿ vJe ￿1￿055 otherwise stated in the r¢f¢vanl pc11￿ nc4elsl. Golng concern At time of apFwoving the finamal State￿￿nts. the d1reciw5 have a reasonable exp?datic￿ thal the charity ha$ adequate resour￿ to continue In ¢)perntionJ exis￿1￿ ltsr the th5eeable luture. Thus Ihe director5 continue to adopt the going concem basis of accountir4J in pryriThJ Ihe finanrial statemen Funds un￿StrICted funds ar8 availab￿ for LL8e at tha discretrfft dwec)rs in bIrtherat￿ ol lI￿r ¢￿ie¢liVeS Ihe fvnds hav¢ been deSi￿ared for Olher purposes. Restricted lund5 ar8 sul4e¢t lo s￿1￿C conditK)ns by as to lThv Ilw may bg u58d. The purposes uses of thg restricted funds are sel out ￿ th8 notes to the finanoal 8tatements. Endowment fvnds are iect to 5Foffic conditions ty Ch￿￿S Ihat the capal must be rna￿1&"ned tyy Ihe charity. In¢orntng rgsour¢e5 Income 1$ recowised when the chaily ts legaty enbved to it after arty kwfomiarts c4)ndiOon5 h8ve been met. the arnounts c4n be measured reliably, and il is prc4)ablÈ Ihat irtome wdl be receNed. Cash iJonalicfi5 are rwnised on rewpL 0th8r Ojnations are 0￿e th8 charity has S)een nO￿"fied of the donation. unless perfomrKe conth'lins requi￿ defeffal ol the a￿)unI. Intow lax reo)vefable in relalwjn to ￿¢￿tionS f￿Ved under Gift Aid or deeds of ￿enant is ￿COgnIS￿ al the tsme of tr donation. Legacie5 ar8 recognised on receipt or otheTh%?se if Ihe chanty has been notiW of ￿ impending di5tit)ution. Ihe amount 15 knovm, and re￿Ipl is expected. Ifthe amwt IS Tr)I kTh)wn. Ihe treated as a Con￿ngent asset. Turnover Ys measured al Ihe lair vak of the consideratM or receNatAe and rewesehts •nounls. Re￿1Vable for goods 8ntt seryices PTOVhded in Ihe norm ¢oJr5e of tMtsine5s. net of d¢CCrtints, VAT and other sales related tsx8S. Rosourees xp•nd•d Resources expended are re¢A)gnised ffj the pwic the pwkular ¥¢k¥y wknere fJ)51 ￿lateS d￿8¢￿Y to that athty. 7crf12

True Buddha School Limited Notes to the Financial Statements Continued For the year ended 31 March 2021 Tanglble fI￿d ass•ts T8ngl)le fixed assets are inib.alty rneasured ai cost subsequenty me#SW￿ al (x)st or v¥uaiion. nel of dgpreciaJon and any impairrnenl losses. DeprecwKJn is recogntsed so as lo write off Ihe wst of a5sdS185s ffjsirlual ¥alue& over thar useful INes on the following bastss.. Freeht land & buikjing No depreeiab¢ Impfoyements evenly over SO years 8ooks and $tatules 20% reduon9 balance Fixtures, fitungs & equipfflent 20% feduong ba The gwn or loss arisiw the disposal of an asset 15 deferrir￿d as the betwtren the sale pro¢e&Ys and the carrying value of Ihe asset. and 15 recognisefj in net inw[r￿(ex￿¢ftd￿UreI for Ihe yeaT. ¢rili¢al a¢counting •$tlmatss and lud9ern•nt8 In the ap￿1¢3￿0￿ Oft￿ ¢hariV$ W￿nting poii¢w. fv dIr￿tr￿S are required to make iudgernent5. estimates ond assurnptr)ns about the caryng amouni of a55ets and Irdbilities that are rLOt readily appafent from other sources. The eslifftates and associated assumptions art baw h"sttsrKal &xFerierKe and c4hgr f￿tC￿S that are cons#kr￿j lo be rel¥vanl. AGtu¥l results tnoy ditl¥r frcm these Estimates. Th8 85timat85 and und￿ty￿￿ aS9Jmrkn￿￿ affj revi6wed on an ba￿ Rwsws lo accountirJ eSti￿￿te5 ar8 recLynised in the p8riod in %hic th8 astThal8 is re¥i5&g th8 re¥is¢oD affects that perios. w in pervJ(l of Ihe ￿¥￿S1On artd fvture pw¢yJs where ￿ fe¥¢5ion affecls bth ¢kj￿nt and perwxts. Impalnnent ofllx•d 855•ts At each rerth'NJ end #ale, the ch￿1 re￿•￿ Ihe cavwrvJ aMC￿￿ts of its tsThJitrJe assels to deterrrmne whether the￿ k8 any indication that those a$$ets have suffered an impairnient1088. If any such exists. the recoverable arnouni of tl a6set is estimated in ordBr to de1efrn￿e Ihe extent clthe irnpaiFrnent ￿ Irf any l. Intangib￿ assatS Tth iThYeffinite ￿0￿1 INes Mnd assels Ilot yet av8ilabk for use tested fr)r ffnpaim)ent annually, and whenever Ihere S an 1ndtit￿ thattht assel may be thpawed. Cash and ￿5h wulvalgnts Cash cash equivalents indude cash in haTrJ, dern W 8tcaTr wffjth bgnks with oriwl nwtlffities ofthw months or les8. Ba$ic fi￿nCIal assets Bas¢ financial awts. wh￿h ¥Kaude cash b•)k balarK¢&. ￿ ¥¥li¥ty measured at transacticn price indUd￿g transact￿ Gosts. Bas￿ finarrial liatslrt Basic financial liab￿lis, incMRin9 CTe¢Jitors and bank are Inty.￿y re¢c•3nised at pric uftle$s Ihe arrangemenl ¢onslitules a financiTrJ transact￿, wthere Ihe Yebl pnstrnrnenl 15 measu￿￿ al Ihe presenl y￿u￿ of the fiJlure payment5 discounled at a market rate of inte￿$t. Financol liabilities dassified as pay48 Within on8 year ar8 Th)t arTh)rtis8d. Debt instTuments are suWvBnty caryi•J at arntytised USHYJ tt effecbve inrest r*e mEthod. Trade ¢￿dItOrS are obligations to pay forgwjs ￿ sw¥ice5 Ihat hwe been uuired ￿ th•ordinary tsxT5e of operatMs from 5uppliets. Amounts payable are dawfied as i)JrTent liatslities if paymenl is due within one yearor less. If not. they are pres8nt8d as non4wfTent liablities. Trade creditors are recogrri5ed inilialty at tranSaCb￿ subsequenlly measured at a￿￿tsed tosl using the effecU¥e ￿￿eSt methoj. 8￿12

True Buddha School Limited Notes to the Financial Statemenls Continued For the year ended 31 March 2021 2. Incomg from donations and legaclos 21 202 Unr•$trl¢t•d fvnd$ Donatic￿$ re¢ei¥ed 115.619 253,072 115,619 253.072 3. In¥￿¢m￿t Incomo 2021 2020 Unre$trl¢l¢il fund$ Bank interest receivable 545 220 4. Exp•ndi¢urg On g•n•ratin9 dortailom and legad•s 2021 2020 Unr•8tr1Ct￿ funds Support costs 95,616 8l,C7 95,618 81,067 5. Costs of ¢harltsbl• •ctl¥iles by fvnd typ• 2021 2020 Unr•4trfctod funds Tempk costs 8rKt GortsLThLA¥5 11.743 89.959 6. Costs of charltable actlYlll•s by activity typ• 2021 2020 A¢tivili•$ undortok•n dlr•¢tty Yempl8 Costs corssurn8t485 11,743 89.959 9of12

True Buddha School Limited Notes to the Financial Siatements Continued For the year ended 31 March 2021 7. Analy51s ofsupwrt ¢osts 2021 Z020 Management Bank tharges & k)an Int￿$t 68.334 2.002 65.411 476 Goveman¢e Costs 25,280 15.180 95,616 81,067 8. Net Incomthll•xpendlturel for the year This 15 Stated aftercharg1￿(c￿ditlngj.' 2021 2020 Deprecwtson of owned fixed a55e15 ACC￿￿tancY fees {GainyLoss on fLYeign currew translatK 38.826 S.158 39.521 16851 13,5671 9. Slaff ¢￿ts and *m•lum•nts Total staff costs for Ihe year ended 31 March 2021 w8rg: 2021 2020 Sabrw and wages 29.508 25.890 29.508 25,890 lo￿12

True Buddha School Limiled Notes to the Financial Statements Continued For the year ended 31 Marth 2021 10. Tanglblo ffix•d ass•ls Land and l)uild#i9S Books and Frxlur85 and Improvement Flttlnos to ProprtT Cost or ¥aluallon Total At 01 April 2020 At 31 March 21y21 1.184.000 1.184.000 179,440 179.440 5,875 S.87S 618,419 618.419 1,987,734 1.987.734 Depreciation At 01 N)nl 2020 Charge for year Ai 31 March 2021 Not book Values 473.6 165.607 5.818 221.760 866.785 23,680 497.280 2.767 168.374 11 12,368 234.129 38,828 905,611 &829 At 31 March 2￿21 686.720 11.088 384.290 1.082.123 At 31 March 2020 710.400 13,833 396,6S9 1,120,949 11. Debtors 2021 2020 Amounls du• aft•r moro than on• y•ar. Other deblors 343.994 343.994 343.9M 343,994 12. Cr•dltors". arnounts falmrq du• wtthln ono y•ar 2021 2020 Olher creditors 3,316 15.380 347 17.004 A¢cN81$ and deferred in¢x)me 18.696 17,351 11 of 1

True Buddha School Limited Detailed Statement of Financial Activities For the year ended 31 March 2021 2021 2020 INCOME AND ENDOWMENT Donation8 and 10gaci•$ Donations 115.619 253.072 115,619 253,072 Investmènts Bank interesl r￿1vatIe 545 220 Total in¢omSng T•SOWWC•S EXPENI)ITURE Charltablo acllvl Cost of direct tharitabte acti¥ty 115.039 253.617 111,7431 {89,9591 111.7431 189,959) SUPPORT COSTS Managem¢nt Managemenl 168,3341 {65,411j 165.4111 168.3341 Bènk ¢harges & loan intsrest Bank ¢harge$ & loan int¢r¢st 12,0021 1476} 12.0021 14761 GOV•man￿ costs Govemance ¢osts 125.2801 115.1801 125.2801 115,1801 Total r•50urc05 0xpondod 1107,3591 1171,0261 Net Incoffle 02,591 12of12 Thi$ pa￿ (hxs noifm pwt stabjiory fnanual Statune￿$