REGISTERED CHARITY NUMBER: 1082096
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
THE THAI-BRITISH BUDDHIST TRUST
MPS Accountancy Ltd Unit S The Wallows Industrial Estate Fens Pool Avenue Brierley Hill DY5 1QA
THE THAI-BRITISH BUDDHIST TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
THE THAI-BRITISH BUDDHIST TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
The Trustees present their report, together with the Financial Statements of the Charity for the period ended 31 March 2023. This report represents a trustees' report in accordance with the Charities Act.
The financial statements have been prepared in accordance with the Accounting Policies set out in note 1, and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to advance the Buddhist religion and to advance the education of the public in the beliefs and traditions of the Buddhist religion and Thai culture.
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THE THAI-BRITISH BUDDHIST TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
As a Thai Buddhist monastery in the UK we fully support monks from Thailand to carry out monks duties to support the community locally, nationally and internationally.
In educational areas both for the Thai community and English society, monks have been taking care for two crossing cultures, the West and the East.
The charity also visits lots of children in local schools in and around Staffordshire. Over 500 children have visited the Temple throughout the year.
We also provide buddhist classes free of charge throughout the year.
During the year we also have contributed to the development of the new Temple in Plymouth.
Other activities undertaken during the year included:
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provision of meditation and mindfulness classes for both males and females.
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provision of classes on Buddhist studies.
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provision of a retreat.
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holding of festivals and Buddhist celebrations.
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school visits.
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provision of classes for special needs for both children and adults.
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training monks from other monasteries.
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provision of Inter Faith meetings.
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community faith.
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support of students at university.
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chaplaincy for students.
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support all of the Thai community nationally.
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help those who need support including referring to specialists where required.
During the year we also had a drive on fundraising to help us redeem the property mortgage. This was successful and also led to additional donation income that we could use to help other Temples' in the UK.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Thai-British Buddhist (Wat Mahathat Temple Trust) is a Charitable Organisation. It was registered on 21 August 2000 as a charity. The charity was established under a constitution which establishes the objects and powers of the charity and is governed by it.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1082096
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THE THAI-BRITISH BUDDHIST TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Principal address Eastfields House Alrewas Road Kings Bromley Burton-on-Trent DE13 7HR
Trustees
Mr M Puntar Mr R Ellis Mr B Kota Mr P L Panyasiri Ms S Tuck
Independent Examiner
MPS Accountancy Ltd Unit S The Wallows Industrial Estate Fens Pool Avenue Brierley Hill DY5 1QA
Approved by order of the board of trustees on 14 March 2025 and signed on its behalf by:
Mr P L Panyasiri - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE THAI-BRITISH BUDDHIST TRUST
Independent examiner's report to the trustees of The Thai-British Buddhist Trust
I report to the charity trustees on my examination of the accounts of The Thai-British Buddhist Trust (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
Matthew Scrivens FCCA
MPS Accountancy Ltd Unit S The Wallows Industrial Estate Fens Pool Avenue Brierley Hill DY5 1QA
14 March 2025
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THE THAI-BRITISH BUDDHIST TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds Charitable activities Projects Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.23 Unrestricted fund £ 116,249 72,294 29,921 102,215 14,034 1,323,674 1,337,708 |
31.3.22 Total funds £ 218,328 54,054 37,558 91,612 126,716 1,196,958 1,323,674 |
|---|---|---|
The notes form part of these financial statements
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THE THAI-BRITISH BUDDHIST TRUST
BALANCE SHEET 31 MARCH 2023
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 6 Unrestricted funds TOTAL FUNDS |
31.3.23 Unrestricted fund £ 1,207,669 152,733 (22,694) 130,039 1,337,708 1,337,708 1,337,708 1,337,708 |
31.3.22 Total funds £ 1,160,121 168,972 (5,419) 163,553 1,323,674 1,323,674 1,323,674 1,323,674 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 March 2025 and were signed on its behalf by:
Mr P L Panyasiri - Trustee
The notes form part of these financial statements
Page 6
THE THAI-BRITISH BUDDHIST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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continued...
THE THAI-BRITISH BUDDHIST TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds Charitable activities Projects Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricte fund £ 218,328 54,054 37,558 91,612 126,716 1,196,958 1,323,674 |
|---|---|
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continued...
THE THAI-BRITISH BUDDHIST TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
4. TANGIBLE FIXED ASSETS
| Fixtures Freehold and Motor property fittings vehicles £ £ £ COST At 1 April 2022 1,139,783 84,116 42,100 Additions 49,823 - 2,000 At 31 March 2023 1,189,606 84,116 44,100 DEPRECIATION At 1 April 2022 - 69,889 36,489 Charge for year - 2,845 1,430 At 31 March 2023 - 72,734 37,919 NET BOOK VALUE At 31 March 2023 1,189,606 11,382 6,181 At 31 March 2022 1,139,783 14,227 5,611 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
Computer equipment £ 5,909 - 5,909 5,409 - 5,409 500 500 31.3.23 £ 22,694 |
Totals £ 1,271,908 51,823 1,323,731 111,787 4,275 116,062 1,207,669 1,160,121 31.3.22 £ 5,419 |
|---|---|---|
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
6. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 1,323,674 1,323,674 |
Net movement in funds £ 14,034 14,034 |
At 31.3.23 £ 1,337,708 1,337,708 |
|---|---|---|---|
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continued...
THE THAI-BRITISH BUDDHIST TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 116,249 TOTAL FUNDS 116,249 Comparatives for movement in funds At 1.4.21 £ Unrestricted funds General fund 1,196,958 TOTAL FUNDS 1,196,958 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 218,328 TOTAL FUNDS 218,328 |
Resources expended £ (102,215) (102,215) Net movement in funds £ 126,716 126,716 Resources expended £ (91,612) (91,612) |
Movement in funds £ 14,034 14,034 At 31.3.22 £ 1,323,674 1,323,674 Movement in funds £ 126,716 126,716 |
|---|---|---|
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continued...
THE THAI-BRITISH BUDDHIST TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.21 £ 1,196,958 1,196,958 |
Net movement in funds £ 140,750 140,750 |
At 31.3.23 £ 1,337,708 1,337,708 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 334,577 (193,827) 140,750 334,577 (193,827) 140,750 |
|---|---|
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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THE THAI-BRITISH BUDDHIST TRUST
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 31 MARCH 2023 | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 116,249 | 218,328 |
| Total incoming resources | 116,249 | 218,328 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rates and water | 1,214 | 968 |
| Insurance | 2,229 | 3,733 |
| Light and heat | 6,150 | 12,110 |
| Telephone | 1,679 | 1,123 |
| Postage and stationery | - | 2,073 |
| Sundries | 1,417 | 1,134 |
| Repairs and renewals | 17,545 | 7,101 |
| Other trading activities | 30,234 | 28,242 |
| Travel | 37,785 | 18,440 |
| Fixtures and fittings | 2,845 | 3,557 |
| Motor vehicles | 1,430 | 1,870 |
| Bank loan interest | - | 1,945 |
| Charitable activities | 42,060 | 25,812 |
| Food | 2,643 | 9,385 |
| Calenders | - | 2,800 |
| Donations made | 20,000 | 23,600 |
| Refuse | - | 1,212 |
| Festivals and events | 4,153 | - |
| Monks expenses | 1,738 | - |
| 28,534 | 36,997 | |
| Support costs | ||
| Finance | ||
| Bank charges | 67 | 21 |
This page does not form part of the statutory financial statements
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THE THAI-BRITISH BUDDHIST TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 31.3.23 | 31.3.22 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Accountancy and legal fees | 1,320 | 540 |
| Total resources expended | 102,215 | 91,612 |
| Net income | 14,034 | 126,716 |
This page does not form part of the statutory financial statements
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