2022 was a year of consolidation. as we continued to recover from the impact of Covid. Whilst regular income from standing orders were largely unaffected by the pandemic, class income has taken time to recover from the close down as people gain confidence in coming to classes again.
We were able to hold a successful weekend retreat for the first time in three years. Whilst smaller in scale than our previous 4 night retreat in 2019, the event did much to develop friendships and give a sense of community.
During 2022 we received a legacy of nearly £31,000 following the death of Aryashila in 2021. Aryashila, during her years in Newcastle, was very keen amongst other things to help develop financial stability following the purchase of our current centre in 2017. This boost to our reserves from her gift gives us a solid basis from which to operate. After years of operating purely with voluntary effort, we were able to offer a small amount of support to our chair from 2021 and we believe this is sowing the seeds to flourish further.
We continue to keep a strong control on expenditure. We felt the benefit of the capital improvements to the building we made in 2021 and were able to limit our expenditure in 2022 to normal operating costs.
Overall, our financial results reflect a picture of a centre that is continuing to deliver the Dharma to the people of Newcastle and surrounding areas without having to limit what we offer for any reasons of affordability for those in need.
Newcastle Buddhist Centre accounts for year ending 31 December 2022
| ear ending 31 December 2022 | ear ending 31 December 2022 | ||
|---|---|---|---|
| Balance b/f current account petty cash Westgate Road equity Virgin deposit Class income Day event Introductory course Sangha night Mitra study & GFR Support income Standing orders Dana Misc income Deposit interest Bookshop income Educational events Weekend retreat Legacy Gift aid refund Gross Income Buildings expenditure Energy bills CLOSE-AMPS insurance Fire safety/H&S Premises water rates Office costs TalkTalk Computer costs Support expenditure Mitra convenor expenses Chair expenses Support incl tax External support Marketing Other support costs Misc expenditure Retreat costs Book purchases Gross Expenditure Net income /(expenditure) Balance c/f |
2022 £ 10,366 100 108,494 20,872 |
2021 Notes £ 17,847 100 93,062 20,844 131,853 25 692 937 150 10,885 336 28 1 400 398 2 0 0 2,535 16,386 566 728 125 126 132 0 378 285 589 0 3,400 1,300 201 419 2 0 1 158 8,407 |
|
| 139,832 131 648 843 549 10,786 262 122 437 719 2,074 30,887 2,640 50,098 701 725 129 211 192 173 270 335 708 725 4,927 500 173 0 1,258 183 11,210 |
|||
| 38,888 178,720 |
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Balance sheet 2022 2021
Fixed assets
Westgate Road 174,494 3 174,494
Current assets
current account 11,182 10,366
petty cash 50 100
Virgin deposit 50,994 20,872
62,226 31,338
Current liability
loan due within 1 year (8,000) 4 (8,000)
Net current assets 54,226 23,338
Liabilities over one year
loan due more than 1 year (50,000) 4 (58,000)
Net Assets 178,720 139,832
Represented by
Unrestricted Funds
Ordinary activities 62,226 31,338
Westgate Road 116,494 5 108,494
178,720 139,832
Memorandum accounts
Bookshop Bookshop income 437 1 400
Book purchases 183 1 158
Net (spend)/income 254 242
Retreats Weekend retreat 2,074 2 0
Retreat costs 1,258 2 0
Net income 816 0
Notes
1 See memorandum account above
2 See memorandum account above. No retreat in 2021
3 Westgate Road purchase cost £88,000 and building works £79,062, held at historic cost.
£7,432 cost of works added in 2021 as economic benefit was greater than one year.
4 £100,000 interest free loan repaid at £8,000 p.a. commencing 1 December 2017
5 Equity in building
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Independent examiner's report to the trustees of Triratna Buddhist Community (Newcastle) 1044379
I report on the accounts of the Trust for the year ended 31 December 2022, which are set out on two pages.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sarah Marshall
4 Lyric Close, NE29 8SP. 15 October 2023