LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| PAGE | |
|---|---|
| STATUTORY INFORMATION | 1 |
| TRUSTEES’ ANNUAL REPORT | 2 - 4 |
| INDEPENDENT EXAMINERS’ REPORT | 5 |
| RECEIPTS AND PAYMENTS ACCOUNT | 6 |
| STATEMENT OF ASSETS AND LIABILITIES | 7 |
| NOTES TO THE FINANCIAL STATEMENTS | 7 – 10 |
| DETAILED RECEIPTS AND PAYMENTS ACCOUNT | 11 |
Page 1
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2023
GOVERNED BY
Declaration of Trust Dated 6 November 1997
REGISTERED CHARITY NUMBER
1076610
TRUSTEES
The Venerable Chimyo Takehara Mr Reitaro Oga The Reverend Professor Taira Sato (Chairman) Professor Hideaki Nagase Mr Izumi Ida Dr Stephen Montgomery Mrs Kaori Punwani Mrs Etsuko Imamura Crellin Mr Andrew Webb Mrs Dilly Suzuma Professor Nick Tyler Professor Gillian Murphy Professor Philip Treleaven
CHARITY ADDRESS
43 Carbery Avenue, London, W3 9AD and 55, 57 Carbery Avenue, London, W3 9AB
REGISTERED OFFICE
43 Carbery Avenue, London, W3 9AD and 55, 57 Carbery Avenue, London, W3 9AB
INDEPENDENT EXAMINERS
Blinkhorns 27 Mortimer Street London W1T 3BL
Page 2
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES’ REPORT
The trustees submit their annual report and financial statements for the year ended 31 March 2023.
PRINCIPAL ACTIVITY
The charity’s principal activity during the year was that of a Buddhist Temple for the advancement of the Shin Buddhist religion.
TRUSTEES
The trustees during the year were:
The Venerable Chimyo Takehara Mr Reitaro Oga The Reverend Professor Taira Sato Dr Stephen Montgomery Mrs Kaori Punwani Professor Hideaki Nagase Mr Izumi Ida Mrs Etsuko Imamura Crellin Mr Andrew Webb Mrs Dilly Suzuma Professor Nick Tyler Professor Gillian Murphy Professor Philip Treleaven
REVIEW OF ACTIVITIES 1 APRIL 2022 - 31 MARCH 2023
This section of the report summarises some of the main activities of the Three Wheels Buddhist Temple during the reporting year. This summary includes how these activities furthered our charitable purpose for the advancement of the Shin Buddhist religion and were for the benefit of the public in accordance with the guidance from the Charity Commission on The Advancement of Religion for the Public Benefit.
During the period from 1 April 2022 to 31 March 2023 Three Wheels recorded 2031 individual visitors and 171 overnight stays of one or more nights. This was a significant increase on last year’s figures and was the result of the full schedule of religious activities Three Wheels temple held over the year. This figure includes a number of new visitors to the temple who wished to join our activities and learn more about Shin Buddhism, regular attendees of our activities, and guests from our parent temple in Japan who came with the purpose of having spiritual encounter and exchange with our community of followers here in the UK. Three Wheels was open by appointment to visitors who wished to have a personal consultation with the priests on matters they needed spiritual guidance on or to visit the Japanese stone (Zen) garden and the Shrine room.
Page 3
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES’ REPORT (continued)
Three Wheels has continued to hold its regular activities such as the bi-monthly London Eza meetings, twice yearly retreats, a weekly Sunday service, Monday evening meditation, Ladies meetings, Children’s and Student’s meetings, Shin Buddhist study meetings and a Saturday morning gardening group. All these activities continue to attract new members and, through the spiritual encounter with others that these meetings encourage and develop, have deepened the participants’ own faith. Three Wheels continues to develop its website and use of online video conferencing technology to make known and open these activities as widely as possible.
This year, Three Wheels welcomed eight classes from five different schools in the London area who were given talks on Buddhism, the history of Three Wheels and the significance of the Zen Garden. These sessions were very warmly received by the children who asked many insightful questions and completed school projects on Buddhism based on their visit.
In the last week of August 2022, a spiritual training session was held at Three Wheels for students of Yamaguchi University in Japan who come to the UK every year as part of an educational programme sponsored by UCL in which they footsteps of the pioneer Japanese students who travelled there at the risk of their lives in the 1860s. They learnt about Anglo-Japanese history, Shin Buddhist spiritual practice and join in a number of educational activities. As a result of these activities, they were each able to reflect on the meaning of their lives which we hope will provide a firm direction for their promising futures.
During the year Rev. Sato, and Rev. Ishii held memorial services at Three Wheels and officiated at funeral services in different parts of the country. This pastoral outreach, which can be given by our ordained priests to those who request it, has been very important for all those seeking spiritual consultation on the death, or anniversary of the death, of a loved one and a traditional Shin Buddhist religious ceremony.
On Sunday 6th November 2022, Three Wheels held the first Memorial meeting to celebrate and commemorate the late Prof. John White who passed away exactly one year before. This very special and moving meeting called, ‘Remembering John’, brought together old friends of John with members of the Three Wheels and Shogyoji Temple (our parent temple in Fukuoka prefecture, Japan) communities. It was an extraordinarily fitting tribute to Prof. John White that this meeting could bring about such a special encounter between us all and was a true embodiment of the spirit of ‘Harmony with Diversity’ that Prof. White had taught and practiced with us for nearly thirty years. This meeting will continue to be held each year.
The London Shogyoji Trust received a generous bequest from the estate of the late Prof. John White which will be used, in accordance with Prof, White’s Will, for the specific purpose of maintaining and conserving objects that will require special care for their preservation such as the Three Wheels temple Buddha Shrine, Zen Garden and the Stupa and monuments at Brookwood cemetery.
Page 4
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES’ REPORT (continued)
As a representative of the Three Wheels temple, which has been holding for the last twenty-six years annual ceremonies to pray for world peace and reconciliation between British and Japanese people who fought in Burma, we are delighted to report that Rev. Sato was invited to a reception held at Buckingham Palace on 1[st] February 2023 and was given the opportunity to have a conversation with His Majesty King Charles III in which he was able to relate to the King some of the history and activities of Three Wheels.
Financial Review
Income is received by way of visitor and general donations, as well as rent received from the trust’s investment property. Total income earned for the year represented £71,191 (2022, £77,051). The majority of the charity’s income continued to be from general donations, in line with previous years.
At the end of the year the charity had net assets of £242,145 (2022, £71,474). This represents a strong increase from 2022, due to the trusts cash balance significantly strengthening.
London Shogyoji Trust reserves policy is to hold designated reserves, in order to cover specific projects that are undertaken by the charity. These reserves are agreed with the Trustees and are discussed annually.
Plans for future periods
The plans for the future period continue to be the advancement of the Shin Buddhist religion through the activities of the Three Wheels Buddhist Temple.
Structure, governance and management
London Shogyoji trust is registered with the Charity Commissioners (No 1076610), and was registered on the 16[th] July 1999. The charity’s address is 55 Carbery Avenue, London, W3 9AB.
The governing document of the charity is a declaration of trust dated 6[th] November 1997 and deed of correction dated 14[th] June 2000.
The trustees report was approved by the Board of trustees.
The Reverend Professor Taira Sato Trustee
19 October 2023
Page 5
INDEPENDENT EXAMINERS’ REPORT
TO THE TRUSTEES OF LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2023
We report on the accounts of the Trust for the year ended 31 March 2023, which are set out on pages 6 to 11.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. You 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 our responsibility to examine the accounts under section 145 of the 2011 Act, follow the procedures specified 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 our attention.
BASIS OF INDEPENDENT EXAMINERS’ REPORT
Our 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 EXAMINERS’ REPORT
In connection with our examination, no matter has come to our attention:
-
(1) which gives us reasonable cause to believe that in any material respect the requirements
-
to keep proper accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Cramer Blinkhorns 27 Mortimer Street London W1T 3BL
19 October 2023
Page 6
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| NOTES | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| RECEIPTS | |||
| Income received | 3 | 72,191 | 77,050 |
| PAYMENTS | |||
| Charitable payments | |||
| Management and administration | (54,118) | (64,591) | |
| _ | _ | ||
| NET OF RECEIPTS AND PAYMENTS | |||
| FOR THE YEAR | 18,073 | 12,459 | |
| Other interest receivable | 953 | 16 | |
| _ | _ | ||
| 19,026 | 12,475 | ||
| Tax on ordinary | |||
| activities | 4 | - | - |
| _ | _ | ||
| NET RESULT FOR THE YEAR | 19,026 | 12,475 | |
| _ | _ |
The attached notes form part of these financial statements.
Page 7
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
STATEMENT OF ASSETS AND LIABILITIES
AT 31 MARCH 2023
| NOTES | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ |
£ | £ | ||
| FIXED ASSETS | |||||
| Assets retained for the Charity’s | Own Use | ||||
| Tangible assets | 5 | 421 | 565 | ||
| CURRENT ASSETS | |||||
| Debtors | 59 | 59 | |||
| Stocks | 1,413 | 1,413 | |||
| Cash at bank and in hand | 244,573 | 70,002 | |||
| __ | _ | ||||
| 246,045 | 71,474 | ||||
| LIABILITIES | (3,900) | - | |||
| _ | _ | ||||
| FUNDS | 7 | 242,145 | 72,039 | ||
| _ | _ | ||||
| ANALYSIS OF FUNDS | |||||
| General fund | 53,792 | 35,186 | |||
| Maintenance fund | 6 | 20,288 | 19,688 | ||
| Spring School | 6 | 12,207 | 12,207 | ||
| Website fund | 6 | 5,858 | 4,958 | ||
| Special maintenance fund | 6 | 150,000 | - | ||
| _ | _ | ||||
| FUNDS | 7 | 242,145 | 72,039 | ||
| _ | _ | ||||
| The Reverend Professor Taira Sato | |||||
| Trustee |
19 October 2023
The attached notes form part of these financial statements.
Page 8
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
NOTES TO THE FINANCIAL STATEMENTS
AT 31 MARCH 2023
1. ACCOUNTING POLICIES
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same financial statements.
Basis of Preparation of the Financial Statements
The financial statements have been prepared on the receipts and payments basis.
Management and Administration of the Charity
Management and administration costs represent the day to day running expenses and are charged to the income and expenditure account in the year when they are paid.
Depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
| Fixtures & fittings | - 25% reducing balance basis |
|---|---|
| Motor vehicles | - 25% reducing balance basis |
2. INCOME
Income represents donations and rental income received during the year.
3. INCOME RECEIVED
| 3. INCOME RECEIVED | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Shogyoji temple | - | 9,150 |
| Visitors donations | 23,807 | 22,130 |
| General donations | 31,492 | 27,007 |
| Gift aid | 4,892 | 6,763 |
| Rent received | 12,000 | 12,000 |
| _ | _ | |
| 72,191 | 77,050 | |
| _ | _ |
Page 9
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
NOTES TO THE FINANCIAL STATEMENTS
AT 31 MARCH 2023
4. TAX ON ORDINARY ACTIVITIES
There is no corporation tax due to the charitable status of the charity.
5. TANGIBLE FIXED ASSETS
| 5. TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Motor | Fixtures & | ||
| vehicle | Fittings | Total | |
| £ | £ | £ | |
| Cost: | |||
| At 1 April 2022 | 18,455 | 17,782 | 36,237 |
| Additions | - | - | - |
| Disposals | - | - | - |
| _ | _ | _ | |
| At 31 March 2023 | 18,455 | 17,782 | 36,237 |
| _ | _ | _ | |
| Depreciation: | |||
| At 1 April 2022 | 18,127 | 17,545 | 35,672 |
| Provided during the year | 82 | 62 | 144 |
| Disposals | - | - | - |
| _ | _ | _ | |
| At 31 March 2023 | 18,209 | 17,607 | 35,816 |
| _ | _ | _ | |
| Net book value: | |||
| At 31 March 2023 | 246 | 175 | 421 |
| _ | _ | _ | |
| At 31 March 2022 | 328 | 237 | 565 |
| _ | _ | _ |
6. SPECIFIC FUNDS
| 6. SPECIFIC FUNDS | ||||
|---|---|---|---|---|
| At | Resources: | At | ||
| 1 April 2022 | Receipts | Payments 31 March 2023 | ||
| £ | £ | £ | £ | |
| Maintenance fund | 19,688 | 600 | - | 20,288 |
| Spring school fund | 12,207 | - | - | 12,207 |
| Website fund | 4,958 | 900 | - | 5,858 |
| Special maintenance fund | - | 150,000 | - | 150,000 |
| _ | _ | _ | _ | |
| 36,853 | 151,500 | - | 188,353 | |
| _ | _ | _ | _ |
Page 10
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
NOTES TO THE FINANCIAL STATEMENTS
AT 31 MARCH 2023
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible | Current | Current | ||
|---|---|---|---|---|
| Fixed Assets | Assets | Liabilities | Total | |
| £ | £ | £ | £ | |
| General fund | 421 | 57,271 | (3,900) | 53,792 |
| Specific funds | - | 188,353 | - | 188,353 |
| _ | _ | _ | _ | |
| Total funds | 421 | 245,624 | (3,900) | 242,145 |
| _ | _ | _ | _ |
8. TRUSTEES REMUNERATION AND EXPENSES
During the year travelling expenses amounted to £1,303 (2022 - £1,190), of which was paid for Reverend Professor Taira Sato.
Page 11
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
DETAILED RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| INCOME RECEIVED | ||||
| Donation income | 55,299 | 49,137 | ||
| Gift aid | 4,892 | 6,763 | ||
| Shogyoji income | - | 9,150 | ||
| Rent received | 12,000 | 12,000 | ||
| _ | _ | |||
| TOTAL INCOME | 72,191 | 77,050 | ||
| Other interest receivable | ||||
| Bank interest received | 953 | 16 | ||
| _ | _ | |||
| 73,144 | 77,066 | |||
| LESS: PAYMENTS | ||||
| CHARITABLE PAYMENTS | ||||
| Management and administration | ||||
| Wages and salaries | 21,237 | 21,237 | ||
| Food | 1,830 | 1,334 | ||
| Utilities | 8,515 | 3,193 | ||
| Council tax | 5,062 | 4,855 | ||
| Religious activities | 1,776 | 11,085 | ||
| Travelling expenses | 1,373 | 1,190 | ||
| Motor expenses | 1,163 | 1,958 | ||
| Social expenses | 288 | 160 | ||
| Printing, postage, stationery and telephone | 1,555 |
1,500 | ||
| Alarms and house insurance | 3,971 | 3,730 | ||
| General repairs and maintenance | 1,180 | 7,309 | ||
| Accountancy | 4,692 | 4,692 | ||
| Miscellaneous expenses | 796 | 2,160 | ||
| Depreciation | 144 | 188 | ||
| _ | _ | |||
| Charitable payments | (54,118) | (64,591) | ||
| _ | _ | |||
| NET RESULT FOR THE YEAR | 19,026 | 12,475 | ||
| _ | _ |