**Registered number: 04332473 Charity number: 1090628** ## **THE DHARMA TRUST** **(A company limited by guarantee)** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the company, its Trustees and advisers**|1| |**Trustees' report**|2 - 5| |**Independent examiner's report**|6| |**Statement of financial activities**|7| |**Balance sheet**|8| |**Notes to the financial statements**|9 - 18| ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021** ## **Trustees** Chris Atkinson (appointed 10 July 2021) Nicholas Barter Roger Britton, Chair to 19 September 2021 (resigned 30 September 2021) Mollie Crawford, Treasurer Keith Howell Louise Kuka, Chair from 20 September 2021 Tansy Miller Joan Mitchell Gudrun Schmitt, sabbatical 10 June 2020 to 14 June 2021 (resigned 14 June 2021) ## **Company registered number** 04332473 ## **Charity registered number** 1090628 ## **Registered office** Marpa House, Rectory Lane, Ashdon, Saffron Walden, Essex, CB10 2HN ## **Company secretary** Roger Britton (resigned 18 July 2020) Louise Kuka (appointed 18 July 2020) ## **Accountants** Larking Gowen LLP, 1 Claydon Business Park, Great Blakenham, Ipswich, IP6 0NL Page 1 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021** The trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of The Dharma Trust (the Trust) for the year ended 31 March 2021. The trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities". ## **Structure, governance and management** The Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 27/11/2001. None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up. New trustees are nominated by the trustees, there being consultation with members of the centre at the Annual Members' Meeting. At the meeting the trustees report on the year's activities, and invite discussion from Members, who also elect new Committee members. The Management Committee who served during for part or all of the year were: Nural Moser Horst Mueller Iris Triebl Barbara Wolter Astrid Jackson Daniel Brett Pema Bishop-Clarke Sue Sternberg Emma Lawrence The trustees delegate the day to day affairs of the centre to the Management Committee and House Secretary. The centre is staffed by resident volunteers who receive an honorarium intended to reimburse personal expenses, and aided by a paid non-resident House Administrator. Investment powers are governed by the rules of the Trust which permit funds to be invested in stock, shares, funds and securities or other investments or property. Amrita Dzong, a London centre with the same aims and objectives (but its own Trustees), has links with The Dharma Trust. Teachers may visit and teach at both centres, expenses are then shared. The trustees have reviewed last year's activity against the Trust's policies and have in place strategies to comply with those policies. ## **Objectives and Activities** The objects for which the Trust was established are: - the advancement of the Tibetan Buddhist religion - the advancement of education according to Tibetan Buddhist principles - the conduct of study and research into the principles and practice of Tibetan Buddhist medicine and to publish the results of all such research for the benefit of the public at large both in the United Kingdom and elsewhere. Page 2 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** The trustees confirm that they have complied with the duty in Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. The trust promotes Buddhism to the general public in a number of ways. The Centre is open to the public, and at no charge when no events are scheduled. All interested are able to visit for free as day visitors (local organisations, eg schools, often take up this offer). For those who wish to stay overnight, our charges are fixed at the lowest level economically possible. Course fees are fixed as low as possible. Student led courses are either by donation or a small charge and Student led meditation days are free. Young Sangha and Family weekends are provided at heavily subsidised rates. Those attending Volunteer Weekends have free board and participation in the House routine. Those who wish to take practice further are encouraged to (and do) come ‘on staff’ and live within the community, receiving full board, free admission to all courses and a small honorarium to cover their expenses. ## **Achievements and performance** This was a rather different year for Marpa House. We started the year closed due to the Covid-19 lockdown, and with the exception of the summer months where we opened our retreat wing to limited numbers and the gardens to day visitors, the House remained largely closed throughout the year. An online programme was created and proved successful, it started with weekly pujas in our ‘virtual shrine room’ and then a full programme of online teachings followed. We were delighted to celebrate Kyabje Chime Rinpoche’s birthday online with him, and he gave teachings later in the winter. Being online meant we could welcome Tulku Pasang Rinpoche and Traleg Khando, and receive teachings from them, even though they were located the other side of the world! Lama Sean Price gave a weekly teachings for a few months, again a bonus of being online. Craig Boulton led our first online retreat over the new year which was very successful. Various practice days and Introduction to Buddhism teaching series were held by the White Sangha:- Paul Wootton, Karrim Rabi-Laleh, Imogen Hayman, Sophie Muir, Steffi Druege, Mike Stone, Ben Henriques, Vicki Tofts and Ross McCleary. Moving the programme online has been effective, a benefit has been that international students are able to join events and teachings, something that was impossible before. Whilst it’s not the same as meeting in the Shrine room, moving forward as we slowly re-open we will be looking to have a blend of both in person and online events in our programme. We made the decision to offer our programme free, due to the difficult circumstances many people were facing. However, many generous donations were received throughout the year which more than offset any expenditure and loss of income from the house being closed. ## **Going Concern** The trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Expenditure is closely monitored by regular reviews by the Trustees. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## **Financial review** Charitable expenditure and the cost of administrating was £52,973 (2020: £64,697) which includes depreciation of £3,556 (2019: £4,394). Gross income during the year was £58,894 (2019: £72,177). Page 3 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** ## **Reserves Policy** The Trustees review the level of Free reserves (net current liquid assets) at each Trustee meeting. The Trustees aim is to hold as free and uncommitted reserve of £35,000, equivalent to 6 months annual trading costs. The purpose of such reserves is to insulate Marpa House from the financial risk of unexpected expenditure, or temporary cessation of income. This financial year end sees a trading surplus of £5,921, and free reserves of £83,543, which exceeds our £35,000 6 months trading reserves. The excess surplus will go towards new statues for the shrine and the continuing refurbishment and update of the House. ## **Future Developments** Following a year of closure, brief opening and closure, our programme moving online, this year has enabled us to slowly open our doors to retreatants, as well as visitors and residential guests. The online programme proved successful, with many international students being able to join, so this will continue. However, we are starting to hold smaller events at the centre, which will grow as we move into spring 2022 creating a hybrid of in person and online events. Throughout the lockdown we took the decision to not charge for our online programme, but any loss of regular income was compensated by donations received as well as reduced expenditure. Going forward as the centre opens up and expenditure will undoubtedly increase, our prices will be regularly reviewed to ensure expenditure is met, yet charges remain as low as possible to maintain accessibility for everyone. We have comfortably held reserves throughout the pandemic and going forward we continue to ensure that we hold ample reserves so we may continue operating for the foreseeable future. ## **Statement of Trustees' responsibilities** The Trustees (who are also directors of The Dharma Trust for the purpose of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the charitable company for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021** Approved by order of the members of the board of Trustees and signed on their behalf: ................................................ **Louise Kuka** Trustee Date: 7 December 2021 Page 5 ## **THE DHARMA TRUST (A company limited by guarantee)** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021** ## **Independent examiner's report to the Trustees of The Dharma Trust ('the company')** I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** 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: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 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. This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. Signed: Dated: 8/12/2021 Giles Kerkham FCA DChA Larking Gowen LLP Chartered Accountants Ipswich Page 6 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021** |**Note**
**Income from:**
Donations and legacies
2
Charitable activities
3
Investments
4
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2021**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**180**
**-**
**180**|**Unrestricted**
**funds**
**2021**
**£**
**55,518**
**3,345**
**31**
**58,894**
**52,973**
**52,973**
**5,921**
**447,924**
**5,921**
**453,845**|**Total**
**funds**
**2021**
**£**
**55,518**
**3,345**
**31**
**58,894**
**52,973**
**52,973**
**5,921**
**448,104**
**5,921**
**454,025**|_Total_
_funds_
_2020_
_£_
_33,100_
_38,943_
_134_
_72,177_| |---|---|---|---|---| |||||_64,697_
_64,697_| |||||_7,480_| |||||_440,624_
_7,480_
_448,104_| The notes on pages 9 to 18 form part of these financial statements. Page 7 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2021** |**Note**
**Fixed assets**
Tangible assets
8
**Current assets**
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
**Net current assets**
**Total assets less current liabilities**
**Charity funds**
Restricted funds
11
Unrestricted funds
11
**Total funds**|**7,189**
**79,381**
**86,570**
**(2,847)**|**2021**
**£**
**370,302**
**83,723**
**454,025**
**180**
**453,845**
**454,025**|_2,897_
_73,569_
_76,466_
_(2,220)_|_2020_
_£_
_373,858_
_74,246_
_448,104_| |---|---|---|---|---| |||||_180_
_447,924_| |||||_448,104_| The company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ **Louise Kuka** Trustee Date: 7 December 2021 The notes on pages 9 to 18 form part of these financial statements. Page 8 **(A company limited by guarantee)** ## **THE DHARMA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies** ## **1.1 Basis of preparation of financial statements** The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Dharma Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in Sterling (£), which is the functional currency of the Company, and rounded to the nearest £. ## **1.2 Company status** The Dharma Trust is a private company limited by guarantee and incorporated in England and Wales, registration number 04332473. The registered office is Marpa House, Rectory Lane, Ashdon, Saffron Walden, Essex, CB10 2HN. The members of the company are the Trustees named on page 1. In the event of The Dharma Trust being wound up, the liability in respect of the guarantee is limited to £10 per member of The Dharma Trust. ## **1.3 Going Concern** Following the last year of closure, limited opening and again closure with our programme moving online, this year has enabled us to slowly open our doors to retreatants, as well as visitors and residential guests. Our programme is evolving to a hybrid of smaller events at the centre with online teachings/courses continuing. This will continue to evolve with more events and courses being held at the centre as we move into spring 2022. Throughout the lockdown we took the decision to not charge for our online programme, but any loss of regular income was compensated by donations received as well as reduced expenditure. Going forward as the centre opens up and expenditure will undoubtedly increase, our prices will be regularly reviewed to ensure we remain accessible and our charges are as low as possible. We have comfortably held reserves throughout the pandemic and going forward we continue to ensure that we hold ample reserves so we may continue operating for the foreseeable future. Based on this information the Trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future, being not less than 12 months from the date of approval of these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing the financial statements. Page 9 **(A company limited by guarantee)** ## **THE DHARMA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies (continued)** ## **1.4 Income** All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 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 allocated on the portion of the asset’s use. Charitable activities costs are costs that are incurred on the company's educational operation, including support costs and costs relating to governance of the company apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT. ## **1.6 Government grants** Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred. ## **1.7 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 10 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies (continued)** ## **1.8 Tangible fixed assets and depreciation** Tangible fixed assets costing more than £250 are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Freehold property - 1% on cost Freehold land - Is not depreciated Fixtures and fittings - 33% on cost ## **1.9 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.10 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.11 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. ## **1.12 Financial instruments** The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 11 **(A company limited by guarantee)** ## **THE DHARMA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting policies (continued)** ## **1.13 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **2. Income from donations and legacies** |**Unrestricted**
**funds**
**2021**
**£**
Donations and gifts
45,189
Government grants
10,329
**Total 2021**
55,518
_Total 2020_
_33,100_|**Total**
**funds**
**2021**
**£**
**45,189**
**10,329**
**55,518**
_33,100_|_Total_
_funds_
_2020_
_£_
_33,100_
_-_
_33,100_| |---|---|---| |||| In 2020, £33,100 was allocated to unrestricted funds and £NIL to restricted funds. Government grants include amounts received from local and national government for Coronavirus Job Retention Scheme Grants, Closed Business Lockdown Payments and Local Restrictions Support Grants, in response to the Coronavirus Pandemic. Page 12 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **3. Income from charitable activities** |**Unrestricted**
**funds**
**2021**
**£**
House and retreat income
3,124
Courses and teaching
-
Sale of tapes and CDs
28
Rental income
140
Miscellaneous income
53
3,345
_Total 2020_
_38,943_|**Total**
**funds**
**2021**
**£**
**3,124**
**-**
**28**
**140**
**53**
**3,345**
_38,943_|_Total_
_funds_
_2020_
_£_
_22,876_
_14,154_
_233_
_1,680_
_-_
_38,943_| |---|---|---| |||| ## **4. Investment income** |**Unrestricted**
**funds**
**2021**
**£**
Investment income
31
_Total 2020_
_134_|**Total**
**funds**
**2021**
**£**
**31**
_134_|_Total_
_funds_
_2020_
_£_
_134_| |---|---|---| |||| Page 13 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **5. Charitable activities** |Staff costs
Depreciation
Other costs
Governance costs
**Total 2021**|**Running**
**Marpa**
**House**
**2021**
**£**
8,972
3,556
34,421
2,280
49,229|**Courses**
**and**
**teaching**
**2021**
**£**
-
-
3,744
-
3,744|**Total**
**funds**
**2021**
**£**
**8,972**
**3,556**
**38,165**
**2,280**
**52,973**| |---|---|---|---| **.** |Staff costs
Depreciation
Other costs
Governance costs
**Total 2020**|**Running**
**Marpa**
**House**
**2020**
**£**
3,784
4,394
44,540
3,053
55,771|**Courses**
**and**
**teaching**
**2020**
**£**
-
-
8,926
-
8,926|**Total**
**funds**
**2020**
**£**
**3,784**
**4,394**
**53,466**
**3,053**
**64,697**| |---|---|---|---| Staff costs related to the employed Administrator and volunteers. Page 14 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **6. Net income/ (expenditure)** This is stated after charging: |Depreciation of tangible fixed assets:
- owned by the charity|**2021**
**£**
**3,556**
**3,556**|_2020_
_£_
_4,394_
_4,394_| |---|---|---| During the year, no Trustees received any remuneration (2020 - £NIL). During the year, no Trustees received any benefits in kind (2020 - £NIL). During the year, trustee expenses totalled £64 (2020 - £2,229). ## **7. Governance costs** ||**2021**|_2020_| |---|---|---| ||**£**|_£_| |Fees payable to the company's independent examiner for the independent||| |examination of the company's annual accounts|**2,280**|_2,220_| Page 15 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **8. Tangible fixed assets** |**Cost or valuation**
At 1 April 2020
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
At 31 March 2021
**Net book value**
At 31 March 2021
_At 31 March 2020_
**9.**
**Debtors**
Other debtors
**10.**
**Creditors: Amounts falling due within one year**
Other creditors|**Freehold**
**property**
**£**
**421,524**
**421,524**
**48,428**
**2,875**
**51,303**
**370,221**
_373,096_|**Fixtures and**
**fittings**
**£**
**8,539**
**8,539**
**7,777**
**681**
**8,458**
**81**
_762_
**2021**
**£**
**7,189**
**2021**
**£**
**2,847**|**Total**
**£**
**430,063**
**430,063**| |---|---|---|---| ||||**56,205**
**3,556**
**59,761**| ||||**370,302**| ||||_373,858_| ||||_2020_
_£_
_2,897_
_2020_
_£_
_2,220_| Page 16 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **11. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
General Fund
**Restricted funds**
Bursary Fund
**Total of funds**
**Statement of funds - prior year**
**Unrestricted funds**
General Fund
**Restricted funds**
Bursary Fund
**Total of funds**|**Balance at 1**
**April 2020**
**£**
**447,924**
**180**
**448,104**
_Balance at_
_1 April 2019_
_£_
_440,444_
_180_
_440,624_|**Income**
**£**
**58,894**
**-**
**58,894**
_Income_
_£_
_72,177_
_-_
_72,177_|**Expenditure**
**£**
**(52,973)**
**-**
**(52,973)**
_Expenditure_
_£_
_(64,697)_
_-_
_(64,697)_|**Balance at**
**31 March**
**2021**
**£**
**453,845**| |---|---|---|---|---| |||||**180**| |||||**454,025**| |||||_Balance at_
_31 March_
_2020_
_£_
_447,924_| |||||_180_| |||||_448,104_| Page 17 ## **THE DHARMA TRUST** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **12. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2021**
**Unrestricted**
**funds**
**2021**
**£**
**£**
-
370,302
180
86,390
-
(2,847)
180
453,845|**Total**
**funds**
**2021**
**£**
**370,302**
**86,570**
**(2,847)**
**454,025**| |---|---|---| ## **Analysis of net assets between funds - prior year** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Restricted_
_funds_
_2020_
_£_
_-_
_180_
_-_
_180_|_Unrestricted_
_funds_
_2020_
_£_
_373,858_
_76,286_
_(2,220)_
_447,924_|_Total_
_funds_
_2020_
_£_
_373,858_
_76,466_
_(2,220)_
_448,104_| |---|---|---|---| Page 18