Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
Charity registration number 1060589 (England and Wales)
AMIDA TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
J Croxon (Safeguarding Officer) C M Earle-Storey F M Curnow (Treasurer) K G J Thompson (Chair)
(Appointed 12 June 2022) (Appointed 13 December 2024)
Charity number (England and Wales) 1060589 Independent examiner Clarkson Hyde LLP 3rd Floor Chancery House St Nicholas Way Sutton Surrey SM1 1JB
Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The aim of the Trust is the furtherance of the Buddhist religion. In pursuit of this aim, the Trust has adopted the following broad strategies:
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to seek to provide means for individuals to learn about and commit themselves to the Buddhist faith;
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to seek to provide facilities for suitable persons to pursue a religious vocation;
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to engage in public activities congruent with the implementation of Buddhist ethical standards;
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to conduct retreats, gatherings, rites of passage, and other ceremonies associated with the active life of the faith;
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to sponsor educational and cultural activities that embody Buddhist principles;
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to actively foster harmonious inter-denominational, inter-faith and inter-communal relations.
Public benefit
The Trustees confirm they have complied with their duty in section 4 of the Charities Act 2006 to have the regard to the Charity Commission's general guidance on public benefit.
The charity seeks to achieve its charitable aims by providing:
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Education and training in Buddhism;
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Buddhist Chaplaincy in educational establishments, hospitals and other healthcare environments;
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Inter-faith and other outreach work;
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Spiritual support for those of all faiths and none;
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Individual retreats at the Bright Earth Temple
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
ACTIVITIES AND BUDDHIST GROUP SUPPORTED
Chaplaincy work:
Christine Earle-Storey, Associate Buddhist Chaplain at Newcastle University, offers fortnightly guided meditation sessions for staff and students at the university; she is the Buddhist contact for the university and part of its chaplaincy team.
Bright Earth Buddhist Temple, Malvern:
The following activities were undertaken during the reporting period. These were supported by the Trust through the use of the Bright Temple at Malvern and the allocation of funding.
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In June 2022, a programme of book study groups inspired by the Bright Dawn model was launched. These groups provide community members with an opportunity to explore Buddhist teachings more deeply.
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This was followed in July 2022 by the creation of the ‘Living the Dharma’ study group.
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In January 2023, the ‘Bright Earth Ministry Training Programme’ was launched. The programme had an initial cohort of eight trainees.
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Continuation of the twice-weekly Buddhist practice sessions.
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Support for ministers to engage in prison and hospital chaplaincy.
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Offering Buddhist retreats and regular mindful walks.
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Hosting of school and other visitors.
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Providing a home for eight community members.
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Amida Order:
The following activities were undertaken during the reporting period.
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In Autumn 2022, Susthama Kim, Head of the Amida Order, facilitated small post-pandemic meetings of Pure Land Buddhists at Watford Community Centre.
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The Amida Order’s Birmingham group continued to meet once a month on Zoom.
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Karmadeva and Paripurna of the same group were both active in the local community and performed various interfaith activities.
The Amida Trust provided financial support to the Amida Order by covering the costs of its website and email hosting, and indemnity insurance.
ACHIEVEMENTS AND PERFORMANCE
Financial review
It is the policy of the charity that, under normal circumstances, unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
However, the Trust is responsible for the maintenance of a Grade 2 Georgian Listed building and recently significant structural work was identified by the Trustees, which included replacing a retaining wall in the garden and stonework on the balcony. Additional funds were therefore carried forward at the end of the year to ensure this and other works critical to the safety of the building could be undertaken.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Future Developments
The ongoing effects of Brexit and the Covid pandemic, coupled with the cost-of-living crisis, continued to give concern in terms of their effect on donations. However, income has been largely unaffected, with a fall in donations offset by an increase in tenant numbers, and therefore the total amount of rent paid, at the Bright Earth Temple.
Following changes within the Amida Order, the Trust resolved to continue to support the Bright Earth Temple as the primary means of achieving its aims and objectives. The work and activities of the growing community at the Bright Earth Temple continues to impress the Trust.
In recent months, the Amida Order, now under the guidance of Susthama Kim, has re-formed into a smaller and clearly-defined organisation with the aim of promoting the Pureland Buddhist message. The Trustees have resolved to offer support to the Amida Order on request, as funds and circumstances permit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing document, a deed of trust
| The trustees who served during the year and up to the date of signature of the financial statements were: | The trustees who served during the year and up to the date of signature of the financial statements were: |
|---|---|
| A Danford | (Resigned 12 June 2022) |
| J Croxon (Safeguarding Officer) | |
| I Summers-Noble | (Resigned 5 March 2023) |
| C M Earle-Storey | |
| M S Lodge (Chair) | (Appointed 18 December 2022 and resigned 31 December 2024) |
| M Trotter (Secretary) | (Appointed 14 August 2022 and resigned 31 December 2024) |
| F M Curnow (Treasurer) | (Appointed 12 June 2022) |
| G Hart | (Appointed 10 March 2024 and resigned 31 December 2024) |
| K G J Thompson (Chair) | (Appointed 13 December 2024) |
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Organisational structure
The Amida Trust is constituted as a trust with a board of trustees. It is an unincorporated body.
Trustees have continued to introduce new structures of governance and financial procedures and protocols to ensure that the Trust is fit-for-purpose in continuing to achieve its aims and objectives, including a revised deed to bring it up to date and in line with charity law. The Trust has established: a conflict of interest register; a health and safety policy; safeguarding and child protection policies; a Trustee appointment policy; and full and transparent financial accountability and control, with consolidation of the Trust’s bank accounts and accountancy procedures. More recently, the Trustees have drawn up a formal procedure for handling complaints, which has been adopted by the Bright Earth Temple.
PERSONNEL
The Amida Trust has no employees. All work is voluntary and in the current reporting period was carried out by members of the Bright Earth Temple community. Kaspalita Thompson and Satyavani Robyn, the Bright Earth ministers at Malvern, are housed free of charge within the Bright Earth Temple.
The Trustees' report was approved by the Board of Trustees.
F M Curnow (Treasurer) Trustee
28 January 2025
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF AMIDA TRUST
I report to the trustees on my examination of the financial statements of Amida Trust (the charity) for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Graham Speck (ACA)
Clarkson Hyde LLP
3rd Floor Chancery House St Nicholas Way Sutton Surrey SM1 1JB 31 January 2025
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | |||
| Income and donations received through Buddhist religious activities | 3 | 40,455 | 36,893 |
| Total income | 40,455 | 36,893 | |
| Expenditure on: | |||
| Charitable activities | |||
| Buddhist religious activities | 4 | 29,824 | 30,175 |
| Total expenditure | 29,824 | 30,175 | |
| Net income and movement in funds | 10,631 | 6,718 | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2022 | 638,411 | 631,693 | |
| Fund balances at 31 March 2023 | 649,042 | 638,411 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 11 |
2023 £ 56,922 (2,880) |
£ 595,000 54,042 649,042 649,042 649,042 |
2022 £ 44,611 (1,200) |
£ 595,000 43,411 |
|---|---|---|---|---|
| 638,411 | ||||
| 638,411 | ||||
| 638,411 |
The financial statements were approved by the trustees on 28 January 2025
F M Curnow (Treasurer) Trustee
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
Amida Trust is constituted as a trust with a board of trustees. It is an unincorporated body.
1.1 Accounting convention
The accounts have been prepared in accordance with applicable accounting standards, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of resources.
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings
No depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Income and donations received through Buddhist religious activities | 40,455 | 36,893 |
4 Expenditure on charitable activities
| Buddhist | Buddhist | |
|---|---|---|
| religious | religious | |
| activities | activities | |
| 2023 | 2022 | |
| £ | £ | |
| Share of support and governance costs (see note 5) | ||
| Support | 27,850 | 28,512 |
| Governance | 1,974 | 1,663 |
| 29,824 | 30,175 | |
| Analysis by fund | ||
| Unrestricted funds | 29,824 | 30,175 |
5 Support costs allocated to activities
| Other costs Governance costs Analysed between: Buddhist religious activities |
2023 £ 27,850 1,974 29,824 29,824 |
2022 £ 28,512 1,663 |
|---|---|---|
| 30,175 | ||
| 30,175 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration from the charity during the year.
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
7 Employees
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2023 | 2022 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Tangible fixed assets
| Tangible fixed assets | ||
|---|---|---|
| Land and | ||
| buildings | ||
| £ | ||
| Cost | ||
| At 1 April 2022 | 595,000 | |
| At 31 March 2023 | 595,000 | |
| Carrying amount | ||
| At 31 March 2023 | 595,000 | |
| At 31 March 2022 | 595,000 | |
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 2,880 | 1,200 |
10 Creditors: amounts falling due within one year
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April 2022 | Incoming | Resources | Transfers | At 31 March | |
|---|---|---|---|---|---|
| resources | expended | 2023 | |||
| £ | £ | £ | £ | £ | |
| Amida Order | 5,664 | - | - | - | 5,664 |
| General funds | 632,747 | 40,455 | (29,824) | - | 643,378 |
| 638,411 | 40,455 | (29,824) | - | 649,042 |
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Docusign Envelope ID: BAE23597-47C5-4A13-A314-B91F148E1E73
AMIDA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 11 | Unrestricted funds | (Continued) | ||||
|---|---|---|---|---|---|---|
| Previous year: | At 1 April 2021 | Incoming | Resources | Transfers | At 31 March | |
| resources | expended | 2022 | ||||
| £ | £ | £ | £ | £ | ||
| Amida Order | - | - | - | 5,664 | 5,664 | |
| General funds | 631,693 | 36,893 | (30,175) | (5,664) | 632,747 | |
| 631,693 | 36,893 | (30,175) | - | 638,411 |
During the prior year the Barclays accounts were closed and the money transferred to the main Amida Trust account. It was felt that the Amida Order may have a claim on this money as it was mainly the result of donations by their supporters. Therefore, the Trustees agreed with the Amida Order that post year end the balance will be transferred to them in two tranches. As a result at the year-end these funds were classified as designated funds.
12 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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