FA YUE BUDDHIST MONASTERY ## Report and Accounts ## 31 March 2022 Charity no: 1079094 Company no: 2804771 TAN & CO Accountants ## **FA YUE BUDDHIST MONASTERY Legal and administrative information** ## **Status** The Fa Yue Buddhist Monastery is a company limited by guarantee, incorporated on 24 March 1993 and registered as a charity on 25 January 2000. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Under those Articles, the members of the Council of Management are to serve a period of 1 year, subject to re-election at each AGM. ## **Council of Management** Ven Yen Tsun Sik Hin Hung Sik Yin Jing Chi Yan Sik Po Chuen Ho Wai Hun Lee Po Tai Ip ## **Secretary** Ven Yen Tsun Sik ## **Registered Office and operation address** Fa Yue Buddhist Monastery Cottage Street Brierley Hill West Midlands DY5 1RE ## **Accountants** Tan & Co Accountants 5th Floor, Albany House 31 Hurst Street Birmingham B5 4BD ## **Bankers** Barclays Bank Plc Stourbridge Business Centre 81 High Street Stourbridge West Midlands DY8 1EB 1 FA YUE BUDDHIST MONASTERY R•port ot th• Counoll of Manag•m•nt for th• y•ar •nd•d 31 Mareh 2022 The couwl of mana￿ent preS￿ts Its repyt the siatemenls for the pr eThJed 31 March 2022. Object of th• ¢harlty The chamys main cbje& is that of the tha￿ert of thè Budthfjst RdIgi￿. Prlnclpal adlvltles and Its achlv•ments The charity's Fffincipal activty during the year ￿ntinued to be that of the adva￿ernent of the Buddhist Religion and the charity continued to rxomote BLFddhist pnnciples in the U.K. and other patts of the world for the cause of Un￿.￿￿ Buddhist organi&*ion5 01 all places. Locally the monastery continues to re(*ive the support of a larye number of pilgrims and visitors throughout the year by beirwJ the focal point of worship. The fundlng of the charity, as with previous yearn. came prtmarily from donations of pilgrims and worshippers. Compared with the previous year. the fMarKial year to 31 March 2022 saw a recovery in the amount of donatTrons received. This vras primarily due to the reopening up of the monastery post pandemic. This has resumed in a surplus of £31.674 for the year. The council of management COn￿dered the over￿1 financial KKJsttson of the monastery as &itisfactory. Futurn stratsgy The tharity plans c4Jnlinuing the ￿11¥11￿$ as CAffjk*d above in the fOr1￿n1￿J JEars. M•mbern of th• ¢4)un¢ll of manag•nvJrt Membws of the management committee. Tth> ate direclor8 for Ihe purp08e of company law and trustees for trte wrpose of charity law. who served durirvJ the year and up to the date of this report are set out on page l. Small company sp¢¢lal provhlons This report has been prepared in aCc￿da￿ with the provisions in Part 15 01 the Companles Act 2006 applicable to comwmes *tyect to the small COMP￿leS regime. Apwoved by of m*agement on 18 NcNembef 2022 signed on its behalf by.. Ven Yen T6￿ Sik Director ## **FA YUE BUDDHIST MONASTERY Statement of Financial Activities for the year ended 31 March 2022** |**Notes**
**Incoming resources**
Donations
2
Investment income and interest
**Total incoming resources**
Transfer to capital reserve fund
**Resources expended**
Wages and salaries
Motor expenses
Rates
Light and heat
Telephone and fax
Stationery and printing
Repairs and maintenance
Depreciation
Sundry expenses
Food consumed by pilgrims
Accountancy fees
Insurance
Bank charges
Ceremonial expenses
**Total resources expended**
**Net movements in funds**
3|**2022**
**£**
69,485
8,409
77,894
-
12,360
1,116
1,127
7,896
1,086
258
1,463
5,301
975
1,296
1,836
6,556
132
4,818
46,220
31,674|**2021**
**£**
22,672
7,933| |---|---|---| |||30,605| |||-
12,360
1,133
1,071
8,169
1,042
203
1,155
6,977
793
938
1,716
6,233
127
1,558| |||43,475| |||| |||(12,870)| 3 CREF . L085 FA YUE BUDDH18T MONSATERY Balance Sh¢•t as at 31 Mar¢h 2022 2022 2021 Flx•d ••••ts TanglL4e a88ets 665,184 670,485 Debtors Ca8h at bank and in harvj 5.488 410.414 415.882 5.303 373,334 378.637 Cr•dltoT•: amounts fallln9 du• wlthln on• y•ar {2.940) (2,671) M•t ourr•nt •wts 412,942 375.968 N•t ts••ts 1,078,126 1,046,451 Capltsl and r•••r¥ Capital re8erve fund Profit and 1088 account 839.518 238,610 839.516 206,935 8h4r•hold•rn' fund• 1.078.128 1,046,451 The dlrector8 arn satlsfled Ihgt th¢ ¢ompany l• entllled to exempts'on from th¢ rgqulrement to obtaln Sn wdlt under •ecll(m 47T of the Compth Ad 20(￿. Member8 have not required the company to obtsfin an wdlt In accordan(x wlth 8eGtion 478 of thè Act. The directors ackn￿*due thélr re8pon81bllltle8 for u)mplyinq wlth rnqulrtm¢nts of the Tho •¢¢ounts havè been prnpared In accord￿ wlth th• provlilons In Part 15 of the Companle8 Act 20C￿ *k*ble to compan188 8Utgect to the gmdl C￿panIO8 rek4me. VEN YEN TSUN SIK Director AppThed ty the t#)8rd C￿ 18 November 2022 **FA YUE BUDDHIST MONASTERY Notes to the Accounts for the year ended 31 March 2022** ## **1 Accounting policies** The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. ## _**Tangible fixed assets**_ Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold buildings Nil Plant and machinery Varied from 15% to 25% Motor vehicles 25% ## _**Voluntary income**_ Voluntary income is received by way of donations and gifts and is included in the Statement of Financial Activities when receivable. ## _**Resources expended**_ Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. |**2**
**Donations**
Donations include the following:
Local donations
**3**
**Net movements in funds**
This is stated after charging:
Depreciation of owned fixed assets|**2022**
**£**
69,485
69,485
**2022**
**£**
5,301|**2021**
**£**
22,672| |---|---|---| |||22,672| |||**2021**
**£**
6,977| ## **4 Taxation** The charitable company is exempt from corporation tax on its charitable activities. 5 ## **FA YUE BUDDHIST MONASTERY Notes to the Accounts for the year ended 31 March 2022** |**5**
**Tangible fixed assets**
**Land and**
**buildings**
**Plant and**
**machinery**
**£**
**£**
**Cost**
At 1 April 2021
647,957
125,848
At 31 March 2022
647,957
125,848
**Depreciation**
At 1 April 2021
-
121,243
Charge for the year
-
820
At 31 March 2022
-
122,063
**Net book value**
At 31 March 2022
647,957
3,785
At 31 March 2021
647,957
4,605
**6**
**Debtors**
Other debtors
**7**
**Creditors: amounts falling due within one year**
Other creditors
**8**
**Capital reserve fund**
An amount equal to the capital expenditure during the
year is being transferred to the Capital Reserve Fund to
cover the cost of acquiring those tangible assets.
At 1 April
At 31 March
**9**
**Accumulated fund**
At 1 April
Net movements in funds
At 31 March|**Motor**
**vehicles**
**£**
31,863
31,863
13,940
4,481
18,421
13,442
17,923
**2022**
**£**
5,468
**2022**
**£**
2,940
**2022**
**£**
839,516
839,516
**2022**
**£**
206,936
31,674
238,610|**Total**
**£**
805,668| |---|---|---| |||805,668| |||135,183
5,301| |||140,484| |||665,184| |||670,485| |||**2021**
**£**
5,303| |||**2021**
**£**
2,671| |||**2021**
**£**
839,516| |||839,516| |||**2021**
**£**
219,805
(12,870)| |||206,935| 6 FA YUE BUDDHIST MONASTERY ## Report and Accounts ## 31 March 2022 Charity no: 1079094 Company no: 2804771 TAN & CO Accountants ## **FA YUE BUDDHIST MONASTERY Legal and administrative information** ## **Status** The Fa Yue Buddhist Monastery is a company limited by guarantee, incorporated on 24 March 1993 and registered as a charity on 25 January 2000. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Under those Articles, the members of the Council of Management are to serve a period of 1 year, subject to re-election at each AGM. ## **Council of Management** Ven Yen Tsun Sik Hin Hung Sik Yin Jing Chi Yan Sik Po Chuen Ho Wai Hun Lee Po Tai Ip ## **Secretary** Ven Yen Tsun Sik ## **Registered Office and operation address** Fa Yue Buddhist Monastery Cottage Street Brierley Hill West Midlands DY5 1RE ## **Accountants** Tan & Co Accountants 5th Floor, Albany House 31 Hurst Street Birmingham B5 4BD ## **Bankers** Barclays Bank Plc Stourbridge Business Centre 81 High Street Stourbridge West Midlands DY8 1EB 1 FA YUE BUDDHIST MONASTERY R•port ot th• Counoll of Manag•m•nt for th• y•ar •nd•d 31 Mareh 2022 The couwl of mana￿ent preS￿ts Its repyt the siatemenls for the pr eThJed 31 March 2022. Object of th• ¢harlty The chamys main cbje& is that of the tha￿ert of thè Budthfjst RdIgi￿. Prlnclpal adlvltles and Its achlv•ments The charity's Fffincipal activty during the year ￿ntinued to be that of the adva￿ernent of the Buddhist Religion and the charity continued to rxomote BLFddhist pnnciples in the U.K. and other patts of the world for the cause of Un￿.￿￿ Buddhist organi&*ion5 01 all places. Locally the monastery continues to re(*ive the support of a larye number of pilgrims and visitors throughout the year by beirwJ the focal point of worship. The fundlng of the charity, as with previous yearn. came prtmarily from donations of pilgrims and worshippers. Compared with the previous year. the fMarKial year to 31 March 2022 saw a recovery in the amount of donatTrons received. This vras primarily due to the reopening up of the monastery post pandemic. This has resumed in a surplus of £31.674 for the year. The council of management COn￿dered the over￿1 financial KKJsttson of the monastery as &itisfactory. Futurn stratsgy The tharity plans c4Jnlinuing the ￿11¥11￿$ as CAffjk*d above in the fOr1￿n1￿J JEars. M•mbern of th• ¢4)un¢ll of manag•nvJrt Membws of the management committee. Tth> ate direclor8 for Ihe purp08e of company law and trustees for trte wrpose of charity law. who served durirvJ the year and up to the date of this report are set out on page l. Small company sp¢¢lal provhlons This report has been prepared in aCc￿da￿ with the provisions in Part 15 01 the Companles Act 2006 applicable to comwmes *tyect to the small COMP￿leS regime. Apwoved by of m*agement on 18 NcNembef 2022 signed on its behalf by.. Ven Yen T6￿ Sik Director ## **FA YUE BUDDHIST MONASTERY Statement of Financial Activities for the year ended 31 March 2022** |**Notes**
**Incoming resources**
Donations
2
Investment income and interest
**Total incoming resources**
Transfer to capital reserve fund
**Resources expended**
Wages and salaries
Motor expenses
Rates
Light and heat
Telephone and fax
Stationery and printing
Repairs and maintenance
Depreciation
Sundry expenses
Food consumed by pilgrims
Accountancy fees
Insurance
Bank charges
Ceremonial expenses
**Total resources expended**
**Net movements in funds**
3|**2022**
**£**
69,485
8,409
77,894
-
12,360
1,116
1,127
7,896
1,086
258
1,463
5,301
975
1,296
1,836
6,556
132
4,818
46,220
31,674|**2021**
**£**
22,672
7,933| |---|---|---| |||30,605| |||-
12,360
1,133
1,071
8,169
1,042
203
1,155
6,977
793
938
1,716
6,233
127
1,558| |||43,475| |||| |||(12,870)| 3 CREF . L085 FA YUE BUDDH18T MONSATERY Balance Sh¢•t as at 31 Mar¢h 2022 2022 2021 Flx•d ••••ts TanglL4e a88ets 665,184 670,485 Debtors Ca8h at bank and in harvj 5.488 410.414 415.882 5.303 373,334 378.637 Cr•dltoT•: amounts fallln9 du• wlthln on• y•ar {2.940) (2,671) M•t ourr•nt •wts 412,942 375.968 N•t ts••ts 1,078,126 1,046,451 Capltsl and r•••r¥ Capital re8erve fund Profit and 1088 account 839.518 238,610 839.516 206,935 8h4r•hold•rn' fund• 1.078.128 1,046,451 The dlrector8 arn satlsfled Ihgt th¢ ¢ompany l• entllled to exempts'on from th¢ rgqulrement to obtaln Sn wdlt under •ecll(m 47T of the Compth Ad 20(￿. Member8 have not required the company to obtsfin an wdlt In accordan(x wlth 8eGtion 478 of thè Act. The directors ackn￿*due thélr re8pon81bllltle8 for u)mplyinq wlth rnqulrtm¢nts of the Tho •¢¢ounts havè been prnpared In accord￿ wlth th• provlilons In Part 15 of the Companle8 Act 20C￿ *k*ble to compan188 8Utgect to the gmdl C￿panIO8 rek4me. VEN YEN TSUN SIK Director AppThed ty the t#)8rd C￿ 18 November 2022 **FA YUE BUDDHIST MONASTERY Notes to the Accounts for the year ended 31 March 2022** ## **1 Accounting policies** The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. ## _**Tangible fixed assets**_ Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold buildings Nil Plant and machinery Varied from 15% to 25% Motor vehicles 25% ## _**Voluntary income**_ Voluntary income is received by way of donations and gifts and is included in the Statement of Financial Activities when receivable. ## _**Resources expended**_ Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. |**2**
**Donations**
Donations include the following:
Local donations
**3**
**Net movements in funds**
This is stated after charging:
Depreciation of owned fixed assets|**2022**
**£**
69,485
69,485
**2022**
**£**
5,301|**2021**
**£**
22,672| |---|---|---| |||22,672| |||**2021**
**£**
6,977| ## **4 Taxation** The charitable company is exempt from corporation tax on its charitable activities. 5 ## **FA YUE BUDDHIST MONASTERY Notes to the Accounts for the year ended 31 March 2022** |**5**
**Tangible fixed assets**
**Land and**
**buildings**
**Plant and**
**machinery**
**£**
**£**
**Cost**
At 1 April 2021
647,957
125,848
At 31 March 2022
647,957
125,848
**Depreciation**
At 1 April 2021
-
121,243
Charge for the year
-
820
At 31 March 2022
-
122,063
**Net book value**
At 31 March 2022
647,957
3,785
At 31 March 2021
647,957
4,605
**6**
**Debtors**
Other debtors
**7**
**Creditors: amounts falling due within one year**
Other creditors
**8**
**Capital reserve fund**
An amount equal to the capital expenditure during the
year is being transferred to the Capital Reserve Fund to
cover the cost of acquiring those tangible assets.
At 1 April
At 31 March
**9**
**Accumulated fund**
At 1 April
Net movements in funds
At 31 March|**Motor**
**vehicles**
**£**
31,863
31,863
13,940
4,481
18,421
13,442
17,923
**2022**
**£**
5,468
**2022**
**£**
2,940
**2022**
**£**
839,516
839,516
**2022**
**£**
206,936
31,674
238,610|**Total**
**£**
805,668| |---|---|---| |||805,668| |||135,183
5,301| |||140,484| |||665,184| |||670,485| |||**2021**
**£**
5,303| |||**2021**
**£**
2,671| |||**2021**
**£**
839,516| |||839,516| |||**2021**
**£**
219,805
(12,870)| |||206,935| 6 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner s Report Raport to the trusteesl members of FA YUE BUDDHIST MONASTERY On accounts for the year ended 31 MARCH 2022 Charlty no Ilf any) 1079094 Set out on pag•8 PER ACCOUNTS FILED I report to the tru*ees C￿ my examination of the accounts of the above Charty (Ihe Tru￿) for the year ￿ded 3110312022 RospoMiblllll•• and As the charrty trust888 of the Tnjst, you are responsibl8 for the preparation basls of rnport of the accow)ts in accudance with the wuirement8 of the Charrties Act 2011 rthe Acr}. I report In resped of my examination of the Trust's a¢courrt8 carried wt under section 145 of the 2011 Act arKI in carying out my examination, I have follo￿*d the appbcable Directions giv￿ by the Charity Commission urKler section 145(5){b) of the Act. I have com￿et￿l my examination. l confimi that no material matters have come to my attention ( ') in connection with the examination b*fiich gives me cause to believe that in, any material respect.. accountirYJ rec(Kds we not kept in accordance with section 130 of theAdor the accounts do not accord with the arxounting re¢ord8 Ind•pand•nt •xamln•rfs staiement I have no concems and have come across no other matters in connection tht tion to Ithich attention should be dra￿￿ in order to enab proper Ing of the a¢¢ounts to be reached. . Ple8 the s in the br8ckels rfthey do not apply. el Slgned: Datr: Name". Relevant professlonal qualifi¢ationl#) or body (If any): Addrnss: Floor ￿ba HcrtA• 31 HuTSt mB54BD Tel. 0121-622 181816 Fax: 0121- 622 6611 IER October 2018 **Section B Disclosure** Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . **October 2018** 2 **IER**