**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 2023**
## **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|
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
|**Trustees**|Irmela Stone|
|---|---|
||Chris Atkinson|
||Tansy Miller, Secretary|
||Mollie Crawford, Treasurer (resigned 30 November 2023)|
||Nicholas Barter|
||Keith Howell (resigned 30 April 2023)|
||Louise Kuka, Chair|
||Joan Mitchell|
|**Company registered**
**number**
04332473
**Charity registered**
**number**
1090628
**Registered office**
Marpa House
Rectory Lane
Ashdon
Saffron Walden
Essex
CB10 2HN
**Company secretary**
Tansy Miller
**Accountants**
Larking Gowen LLP
Chartered Accountants
1 Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL||
Page 1
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
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 2023. 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" issued in March 2005.
## **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:
Craig Boulton Nural Moser Eva Ward Barbara Wolter Dominique Simpson Daniel Brett Hartwin Busch Brian Richardson Joe Taylor
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.
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
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Objectives and activities (continued)**
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. Meditation sessions, as well as morning and evening pujas take place daily, and are free. Young Sangha and Family weekends are provided at 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**
After last year’s transition to a hybrid of in-person and online events after solely online events during the pandemic, this year saw Marpa House come back to life with many more teachings and activities held at the Centre.
The May teachings, often our largest annual event, saw a long weekend of wonderful teachings with Lama Kunga, it was a joyful occasion with everyone pleased to be back in the presence of old and new friends. We were also delighted that Kyabje Chime Rinpoche returned to the House in February to teach and celebrate Tibetan New Year with his students, this also commenced the programme of celebrations for the 50th year anniversary of Marpa House. Lama Alasdair led us through the Losar pujas and both older students and members of the White Sangha led courses, retreats and meditation practice days: John Howard, Craig Boulton, Vicki Tofts, Ross McCleary, Tansy Miller, Ian Pearse and Gabrielle McCarthy.
This was certainly a year of activity with two large projects taking place: in August we welcomed 30 volunteers to help with the huge task of making new prayer flags for the garden. For just over 3 weeks people printed, stitched and threaded flags, this culminated a ceremony led by Lama Alasdair as the prayer flags were raised, followed by a tea party. The other project will take much longer: last year brought the arrival of our new statues, they now need to be filled with mantras and precious items, so our rupa project commenced in September with volunteers helping to prepare and roll strips of mantras, there are thousands needed so further sessions were held in October, December and January. So far we have gathered for just over 30 days, with over 30 volunteers helping on various occasions, the project continues.
The Centre continued to be busy with visitors and retreatants, with several long-term retreatants throughout the year. The retreat wing is a unique aspect of Marpa House, so it was great to have it being used so extensively by Dharma practitioners.
Our online programme first started out of necessity but proved to be a success, allowing students living long distances away to join events. Another benefit being we could continue to receive teachings from those based overseas when they weren’t able to visit in person. Due to this we had some wonderful online teachings throughout the year: we were delighted Kyabje Chime Rinpoche taught in July as part of an online Summer School held by German centre Kagyu Chos Ling. Later in the year we came together to celebrate Rinpoche’s birthday. It was wonderful to have Tulku Pasang Rinpoche return and teach in July. Ven. Sean Price gave a series of teachings and held a book launch. Elizabeth Callahan returned to lead a study group, the Tibetan language group continued, as well as online pujas each week.
Page 3
**THE DHARMA TRUST (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Financial review**
## **a. 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.
## **b. Financial review**
Charitable expenditure and the cost of administrating was £84,791 (2022 - £78,793) which includes depreciation of £4,298 (2022 - £3,370). Gross income during the year was £97,845 (2022 - £53,869).
## **c. 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 £45,000, 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 surplus of £13,054, which provides free reserves of £74,591, this is above our £45,000 6 months trading reserves. The excess surplus will go towards continuing refurbishment and update of the House.
## **Future Developments**
Our programme of events will continue to be a blend of events both at the Centre and online. Our 50th year anniversary celebrations started in February 2023, so the coming year will see a range of events and projects launched as part of these celebrations. We will hold a significant event in May when we host HH Rabjam Rinpoche for several days of teachings and empowerments. The rupa project will continue with the aim of filling and consecrating the statues within a year.
We forecast greater expenses in the coming years, due in part to the upcoming May event, but mainly due to longer-term projects we wish to pursue to future-proof the Centre for the next 50 years (this being part of our 50th year anniversary celebrations), therefore we will be exploring fundraising options during the coming year. Food and energy costs continue to increase so regular reviews continue. However, the Charity currently holds sufficient reserves and aims to ensure that these are maintained to continue operating for the foreseeable future.
Page 4
## **THE DHARMA TRUST**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes 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 . 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 Company and of its incoming resources and application of resources, including its income and expenditure, 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;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Louise Kuka** Trustee Date: 28.11.23
Page 5
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **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 2023.
## **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: 29/11/2023
## **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 2023**
|**Note**
**Income from:**
Donations and legacies
2
Charitable activities
3
Investments
4
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**180**
**-**
**180**|**Unrestricted**
**funds**
**2023**
**£**
**58,194**
**39,453**
**252**
**97,899**
**84,791**
**84,791**
**13,108**
**428,741**
**13,108**
**441,849**|**Total**
**funds**
**2023**
**£**
**58,194**
**39,453**
**252**
**97,899**
**84,791**
**84,791**
**13,108**
**428,921**
**13,108**
**442,029**|_Total_
_funds_
_2022_
_£_
_40,667_
_13,191_
_11_
_53,869_
_78,973_
_78,973_
_(25,104)_
_454,025_
_(25,104)_
_428,921_|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
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 2023**
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
12
Unrestricted funds
12
**Total funds**|**3,517**
**75,406**
**78,923**
**(4,278)**|**2023**
**£**
**367,384**
**74,645**
**442,029**
**180**
**441,849**
**442,029**|_3,752_
_57,437_
_61,189_
_(3,251)_|_2022_
_£_
_370,983_
_57,938_|
|---|---|---|---|---|
||||||
|||||_428,921_|
|||||_180_
_428,741_|
||||||
|||||_428,921_|
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: 28.11.23
The notes on pages 9 to 18 form part of these financial statements.
Page 8
**THE DHARMA TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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) (effective 1 January 2019), 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**
We continue to ensure that the ample reserves we have held are comfortably maintained so we can 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.
## **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 investment income is recognised at the time the investment income is receivable.
Page 9
**THE DHARMA TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. Accounting policies (continued)**
## **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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **1.6 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.
## **1.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £250 or more 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.
Depreciation is provided on the following bases:
Freehold property - 1% on cost Freehold land - Is not depreciated Fixtures and fittings - 33% on cost
## **1.8 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.
Page 10
**THE DHARMA TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. Accounting policies (continued)**
## **1.9 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.
## **1.10 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.
## **1.11 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.
## **1.12 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**
**2023**
**£**
Donations
57,593
Government grants
601
**Total 2023**
58,194
_Total 2022_
_40,667_|**Total**
**funds**
**2023**
**£**
**57,593**
**601**
**58,194**
_40,667_|_Total_
_funds_
_2022_
_£_
_37,402_
_3,265_|
|---|---|---|
|||_40,667_|
||||
Page 11
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. Income from donations and legacies (continued)**
Government grants include amounts received from local and national government for energy support schemes.
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2023**
**£**
House and retreat income
25,930
Course and teaching
12,138
Sale of tapes and CDs
541
Miscellaneous income
844
39,453
_Total 2022_
_13,191_
**Investment income**
**Unrestricted**
**funds**
**2023**
**£**
Investment income
252
_Total 2022_
_11_|**Total**
**funds**
**2023**
**£**
**25,930**
**12,138**
**541**
**844**
**39,453**
_13,191_
**Total**
**funds**
**2023**
**£**
**252**
_11_|_Total_
_funds_
_2022_
_£_
_12,420_
_751_
_20_
_-_|
|---|---|---|
|||_13,191_|
|||_Total_
_funds_
_2022_
_£_
_11_|
||||
## **4. Investment income**
Page 12
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **5. Charitable activities**
|Staff costs
Depreciation
Other costs
Governance costs
Staff costs
Depreciation
Other costs
Governance costs
**6.**
**Net income / (expenditure)**
This is stated after charging:
Depreciation of tangible fixed assets:
- owned by the charity|**Running**
**Marpa**
**House**
**2023**
**£**
11,101
4,298
53,316
2,790
71,505
**Running**
**Marpa**
**House**
**2022**
**£**
10,787
3,370
55,904
2,478
72,539|**Courses**
**and**
**teaching**
**2023**
**£**
-
-
13,286
-
13,286
**Courses**
**and**
**teaching**
**2022**
**£**
-
-
6,434
-
6,434
**4,298**
**4,298**|**Total**
**funds**
**2023**
**£**
**11,101**
**4,298**
**66,602**
**2,790**|
|---|---|---|---|
||||**84,791**|
||||**Total**
**funds**
**2022**
**£**
**10,787**
**3,370**
**62,338**
**2,478**|
||||**78,973**|
||||_3,370_|
||||_3,370_|
Page 13
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **7. Governance costs**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Company's independent examiner for the independent|||
|examination of the Company's annual accounts|**2,790**|_2,478_|
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 March 2023, expenses totaling _£_ 18 were reimbursed or paid directly to 1 Trustee _(2022 - £106)_ .
Page 14
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net book value**
At 31 March 2023
_At 31 March 2022_
**10.**
**Debtors**
Other debtors
**11.**
**Creditors: Amounts falling due within one year**
Other creditors|**Freehold**
**property**
**£**
**421,524**
**-**
**421,524**
**54,178**
**2,875**
**57,053**
**364,471**
_367,346_|**Fixtures and**
**fittings**
**£**
**12,590**
**699**
**13,289**
**8,953**
**1,423**
**10,376**
**2,913**
_3,637_
**2023**
**£**
**3,517**
**2023**
**£**
**4,278**|**Total**
**£**
**434,114**
**699**|
|---|---|---|---|
||||**434,813**|
||||**63,131**
**4,298**|
||||**67,429**|
||||**367,384**|
||||_370,983_|
||||_2022_
_£_
_3,752_
_2022_
_£_
_3,251_|
Page 15
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **12. Statement of funds**
|**Statement of funds - current year**
**Balance at 1**
**April 2022**
**£**
**Unrestricted funds**
General Fund
**428,741**
**Restricted funds**
Bursary Fund
**180**
**Total of funds**
**428,921**|**Income**
**£**
**Expenditure**
**£**
**97,899**
**(84,791)**
**-**
**-**
**97,899**
**(84,791)**|**Balance at**
**31 March**
**2023**
**£**
**441,849**|
|---|---|---|
|||**180**|
|||**442,029**|
Page 16
**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **12. Statement of funds (continued)**
## **Statement of funds - prior year**
|_Balance at_
_1 April 2021_
_£_
**Unrestricted funds**
General Fund
_453,845_
**Restricted funds**
Bursary Fund
_180_
**Total of funds**
_454,025_
**13.**
**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**|_Income_
_£_
_Expenditure_
_£_
_53,869_
_(78,973)_
_-_
_-_
_53,869_
_(78,973)_
**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
-
367,384
180
78,743
-
(4,278)
180
441,849|_Balance at_
_31 March_
_2022_
_£_
_428,741_
_180_
_428,921_
**Total**
**funds**
**2023**
**£**
**367,384**
**78,923**
**(4,278)**
**442,029**|
|---|---|---|
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**(A company limited by guarantee)**
## **THE DHARMA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **13. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Restricted_
_funds_
_2022_
_£_
_-_
_180_
_-_
_180_|_Unrestricted_
_funds_
_2022_
_£_
_370,983_
_61,009_
_(3,251)_
_428,741_|_Total_
_funds_
_2022_
_£_
_370,983_
_61,189_
_(3,251)_
_428,921_|
|---|---|---|---|
## **14. Related party transactions**
The Company has not entered into any related party transaction during the year other than those disclosed in note 8, nor are there any outstanding balances owing between related parties and the Company at 31 March 2023.
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