LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 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 | 8 – 10 |
| DETAILED RECEIPTS AND PAYMENTS ACCOUNT | 11 |
Page 1
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2024
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 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 2024
TRUSTEES’ REPORT
The trustees submit their annual report and financial statements for the year ended 31 March 2024.
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 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
REVIEW OF ACTIVITIES 1 APRIL 2023 - 31 MARCH 2024
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 2023 to 31 March 2024 Three Wheels recorded 2,453 individual visitors and 316 overnight stays of one or more nights. This represented a significant increase on the previous year’s figure and reflected the very busy year Three Wheels Temple has had with its full calendar of spiritual activities for all ages and international exchanges.
Page 3
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES’ REPORT (continued)
In May 2023, the Trustees and community of Three Wheels Temple were very grateful to welcome Professor Philip Treleaven as a new Trustee. Professor Treleaven is Professor of Computer Science at UCL and formerly its Pro-Provost International. He has a long association both with Shogyoji Temple and Three Wheels and helped Shogyoji to launch its pioneering online platform. Further, each year Professor Treleaven has been welcoming the participants of Three Wheels yearly Spring School for young Japanese students to UCL where they could learn about the origins of Anglo-Japanese relations through learning about the history of the pioneering Japanese students who came to study there at the risk of their lives over 150 years ago.
At the end of March 2024 Three Wheels welcomed its annual Spring School for the first time in five years due to the Covid 19 pandemic and other international problems which caused its postponement. Eight high school students from Japan together with three helpers from Shogyoji spent two weeks at Three Wheels where they were joined at different times by twelve students who live in the UK. The Spring School was a very great success, and many friendships were formed between the Japanese and local students. Due to the depth of their mutual spiritual encounters several of the local students immediately planned to go to Shogyoji Temple in July for its annual Summer Training Assembly.
During the year, Reverend Kemmyo Taira Sato completed his final draft of The Letters of Shinran Shonin, the Founder of Shin Buddhism which is due to be published in the next reporting year. The manuscript is the fruit of a very long process of research and translation by Reverend Sato. The whole of the Three Wheels community became involved in this work through a monthly study and discussion meeting Reverend Sato held to go through each individual letter in detail; not only in terms of the English language of the translation but to reflect on the deep spiritual significance of Shinran Shonin’s words for each individual.
Reverend Kenshin Ishii has been leading some very important projects to support the long-term growth and maintenance of Three Wheels. Firstly, he has been identifying structural problems in 55 and 57 Carbery Avenue and arranging for suitable companies to provide both quality and value for money repairs which have been of considerable benefit both the residents and visitors to Three Wheels. He also identified a suitable species of moss for the Zen Garden and the correct method of planting and maintaining the growth of the moss. This has been greatly appreciated by the many public visitors to the Zen Garden.
Reverend Ishii has also been leading a small group of participants who have been working on a complete redesign of the Three Wheels website which is due to go live in the next reporting year. As well as the many technical considerations which needed to be worked on, a lot of focus was given to making the website one which is welcoming and encouraging to new visitors without any background in Shin Buddhism.
Page 4
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES’ REPORT (continued)
Three Wheels Temple has continued to welcome school classes from all over London and the home counties who have been given valuable insights into Buddhism from their visits. Many of these schools have now regularly arranged visits of their students to Three Wheels.
The annual Peace and Reconciliation ceremony at Three Wheels continues to welcome a large number of participants from all faiths and nationalities and has been widening its circle of participants to include monks and lay people from Myanmar whose populace suffered greatly due to the battles there during the Second World War. The London Shogyoji Trust are very grateful to the Embassy of Japan in the UK for the attendance of its Political Minister and his senior colleagues to the Ceremony each year.
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 £141,995 (2023: £71,191). 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 £330,986 (2023: £242,145). This represents a strong increase from 2023, 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
31 October 2024
Page 5
INDEPENDENT EXAMINERS’ REPORT
TO THE TRUSTEES OF LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
FOR THE YEAR ENDED 31 MARCH 2024
We report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 6 to 10.
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.
N Budhan FCCA Blinkhorns 27 Mortimer Street London W1T 3BL
- 9 January 2025
Page 6
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| NOTES | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| RECEIPTS | |||
| Income received | 3 | 141,995 | 72,191 |
| PAYMENTS | |||
| Charitable payments | |||
| Management and administration | (60,413) | (54,118) | |
| _ | _ | ||
| NET OF RECEIPTS AND PAYMENTS | |||
| FOR THE YEAR | 81,582 | 18,073 | |
| Other interest receivable | 5,264 | 953 | |
| _ | _ | ||
| 86,846 | 19,026 | ||
| Tax on ordinary | |||
| activities | 4 | - | - |
| _ | _ | ||
| NET RESULT FOR THE YEAR | 86,846 | 19,026 | |
| _ | _ |
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 2024
| NOTES | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ |
£ | £ | ||
| FIXED ASSETS | |||||
| Assets retained for the Charity’s | Own Use | ||||
| Tangible assets | 5 | 287 | 421 | ||
| CURRENT ASSETS | |||||
| Debtors | 59 | 59 | |||
| Stocks | 1,060 | 1,413 | |||
| Cash at bank and in hand | 333,480 | 244,573 | |||
| __ | _ | ||||
| 334,599 | 246,045 | ||||
| LIABILITIES | (3,900) | (3,900) | |||
| _ | _ | ||||
| FUNDS | 7 | 330,986 | 242,145 | ||
| _ | _ | ||||
| ANALYSIS OF FUNDS | |||||
| General fund | 141,058 | 53,792 | |||
| Maintenance fund | 6 | 20,888 | 20,288 | ||
| Spring School | 6 | 12,207 | 12,207 | ||
| Website fund | 6 | 6,833 | 5,858 | ||
| Special maintenance fund | 6 | 150,000 | 150,000 | ||
| _ | _ | ||||
| FUNDS | 7 | 330,986 | 242,145 | ||
| _ | _ | ||||
| The Reverend Professor Taira Sato | |||||
| Trustee |
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 2024
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 |
| Land and buildings | - No depreciation |
2. INCOME
Income represents donations received during the year.
3. INCOME RECEIVED
| 3. INCOME RECEIVED | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Shogyoji temple | 9,422 | - |
| Visitors donations | 22,362 | 23,807 |
| General donations | 92,566 | 31,492 |
| Gift aid | 5,645 | 4,892 |
| Rent received | 12,000 | 12,000 |
| _ | _ | |
| 141,995 | 72,191 | |
| _ | _ |
Page 9
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
NOTES TO THE FINANCIAL STATEMENTS
AT 31 MARCH 2024
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 | Assets | ||
| vehicle | general fund | Total | |
| £ | £ | £ | |
| Cost: | |||
| At 1 April 2023 | 18,455 | 17,782 | 36,237 |
| Additions | - | - | - |
| Disposals | - | - | - |
| _ | _ | _ | |
| At 31 March 2024 | 18,455 | 17,782 | 36,237 |
| _ | _ | _ | |
| Depreciation: | |||
| At 1 April 2023 | 18,209 | 17,607 | 35,816 |
| Provided during the year | 62 | 72 | 134 |
| Disposals | - | - | - |
| _ | _ | _ | |
| At 31 March 2024 | 18,271 | 17,679 | 35,950 |
| _ | _ | _ | |
| Net book value: | |||
| At 31 March 2024 | 184 | 103 | 287 |
| _ | _ | _ | |
| At 31 March 2023 | 246 | 175 | 421 |
| _ | _ | _ |
6. SPECIFIC FUNDS
| 6. SPECIFIC FUNDS | ||||
|---|---|---|---|---|
| At | Resources: | At | ||
| 1 April 2023 | Receipts | Payments 31 March 2024 | ||
| £ | £ | £ | £ | |
| Maintenance fund | 20,288 | 600 | - | 20,888 |
| Spring school fund | 12,207 | - | - | 12,207 |
| Website fund | 5,858 | 975 | - | 6,833 |
| Special maintenance fund | 150,000 | - | - | 150,000 |
| _ | _ | _ | _ | |
| 188,353 | 1,575 | - | 189,928 | |
| _ | _ | _ | _ |
Page 10
LONDON SHOGYOJI TRUST
KNOWN AS THREE WHEELS
NOTES TO THE FINANCIAL STATEMENTS
AT 31 MARCH 2024
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible | Current | Current | ||
|---|---|---|---|---|
| Fixed Assets | Assets | Liabilities | Total | |
| £ | £ | £ | £ | |
| General fund | 287 | 144,671 | (3,900) | 141,058 |
| Specific funds | - | 189,928 | - | 189,928 |
| _ | _ | _ | _ | |
| Total funds | 287 | 334,599 | (3,900) | 330,986 |
| _ | _ | _ | _ |
8. TRUSTEES REMUNERATION AND EXPENSES
During the year travelling expenses amounted to £2,396 (2023: £1,303), 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 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| INCOME RECEIVED | ||||
| Donation income | 114,928 | 55,299 | ||
| Gift aid | 5,645 | 4,892 | ||
| Shogyoji income | 9,422 | - | ||
| Rent received | 12,000 | 12,000 | ||
| _ | _ | |||
| TOTAL INCOME | 141,995 | 72,191 | ||
| Other interest receivable | ||||
| Bank interest received | 5,264 | 953 | ||
| _ | _ | |||
| 147,259 | 73,144 | |||
| LESS: PAYMENTS | ||||
| CHARITABLE PAYMENTS | ||||
| Management and administration | ||||
| Wages and salaries | 21,237 | 21,237 | ||
| Food | 3,300 | 1,830 | ||
| Utilities | 5,393 | 8,515 | ||
| Council tax | 5,369 | 5,062 | ||
| Religious activities | 3,944 | 1,776 | ||
| Travelling expenses | 2,498 | 1,373 | ||
| Motor expenses | 1,771 | 1,163 | ||
| Social expenses | 920 | 288 | ||
| Printing, postage, stationery and telephone | 1,259 |
1,555 | ||
| Alarms and house insurance | 3,598 | 3,971 | ||
| General repairs and maintenance | 5,230 | 1,180 | ||
| Accountancy | 4,692 | 4,692 | ||
| Miscellaneous expenses | 1,068 | 796 | ||
| Depreciation | 134 | 144 | ||
| _ | _ | |||
| Charitable payments | (60,413) | (54,118) | ||
| _ | _ | |||
| NET RESULT FOR THE YEAR | 86,846 | 19,026 | ||
| _ | _ |