The Oxford Zen Centre of Sanbo Zen, Kamakura, Japan Report and Financial Statements For the Year Ended January 312024 Charity no: 1093036
Contents Page Legal and adrninistrative infomiation Report of the trustees 24 Independent Examiner's Certifjcate Statement of fjnancial activities Balance sheet Notes forn]ing part of the financial statements
Legal and administrative information Trustees David Blowers (Chair) John Chubb (Treasurer) Mark Hudson (Secretary) Simon Roffey Felix Pring Peter Popham (appointed l Oth February 2023) Jules Eyles (resigned 22. June 2023) Elizabeth Spènce Ed Rowe (appointed 26 April 2023) Charity's Office l2, Mortimer Drive, Oxford, OX3 ORR Independent Examiner Peter Stevenson FCA. 8, Harbord Road, Oxford, OX2 8LJ Bankers The Co-operative Bank plc, PO Box 250. Skelmersdale, WN8 6WT CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET. Page I
Trustees Annual Report for the Year Ended January 312024 The trustees are pleased to present their report together with the financial statements of the Lharity for the year ended January 312024. Objectives and Activities of the Trust The Trust was fonned to educate the public in the study and practice of 7en {silent meditation) and to advance public knowledge of the teachings of the Sanbozen tradition. These objectives are met by a range of activities as set out below: To conduct weekly evening zen meditation sittings, Saturday Zaz¢nkais and Saturday Koan Practice Days in Oxford, and London To hold 4 annual retreats (107 attendees in totsl) To induct newcomers monthly in London and during two day reireats in Oxford Sandy Chubb Roshi holds interviews with students on zoom each week to aid them in their practice Ten practitioners met on the anniversary of 'fhe Buddha's enlightenment to join an all night sitting in December. The house in Oxford is used by individual students to further their practice and training. Some have used the house for personal retreats. lThe house has also been rented to an employee of the Prison Phoenix Trust. The Prison Phoenix Trust work with prisoners and prison officers continues to be our outreach where a number of zen practitioners volunteer. Swiss Zen Teacher Silvia Osterlag's books "Living Silence" and "Finding Silence" were translated into English by two members of our Sitting group, and continue to be offered for sale. A Bursary Fund supports members who are not in a position to make regular donations towards the running costs of the Charity. Of the 167 current members of the charity, nearly 40 % of the members participatc fully or partly in the activitie& of the charity although they do not all make such donations because of their rcligious status or fmancial circumstances. These objectives and activities are regularly monitored by the Trustees to ensure that they flect the charity's aims. Page 2
Management and Governance The Oxford Zen Centre of the Sanbo Kyodan Kamakura Japan became a registered charity on July 19 2002 and fomially changed its name to The Oxford Zen Centre of Sanbozen, Kamakura Japan on the 29 July 2017. It is governed by a constitution adopted by members on DeceTnber 7 2001 and subsequently amended by them on June 12002. The Trustees (as set out on page l ) fonn the Executive Committec that administers and manages the charity. Throughout this rewrt they are referred to collectively as the Executive Committee. As set out in the Constitution. the members of the charity who attend the Annual General Meeting elect the Executive Committee which shall consist of not less than 3 and no more than 8 members. In addiiion, the ExeLUtive Committee can co-opt up to 4 members. Members of Ihe Executive Committee are elected annually at the Annual General Meeting of the members. Members of the Executive Committee are elected by the members of the Trust and as such are well versed in the practice of Zen Meditation. They are therefore acquainted with the practical work of the Trust. On being appointed as Trus*es they are made aware of their responsibilities as a Trustee by the existing members of the Executive Committee. The Executive Committee met 4 times in the year to administer and manage the charity. Sandy Chubb, Roshi, who was authorised directly as teacher by the sanb07.cn Abbot in 2013, directs the Oxford and London Zendos. Sister Elaine MacInnes, who is the charity's th founding teacher died on 29 November 2022. Sandy Chubb Roshi holds a series of in person teacher student interviews during Tuesdays and Thursdays Zazenkais as well as offering a Dharn Talk to practitioners. Future Plans The Charity is expanding tts numbers attending in Oxford and London due to its lively website in London and Oxford. The Trustees are always alert for new locations to hold longer sesshins, where costs are fair and reasonable for members. Page 3
t¥W£4, ty: i¥ fm age 4 ULI 10 sw.jpg Risk Management Considered to be &8Difiwt and fimds of the trust are kld In a risk ave Clwities Lkposit thp COIF with CCLA lllvesknent ManagttM Lt Publi¢ Beaefit Trustee8 have Iwd regard to the Buldance conlwned In the Chrity Conllnission's 8aral 8uidan¢e on publAC benefit. The charlty re8ularly invites the publi¢ to induction day4 all of tAivliie8 art u to further tk ¢harlty'8 objectiVa8 for the publlc bef Aehieveiiients and Performince In the p> year the Tru has continued to purs the Xtivitits as set out above {Obiectives and Athivides). Members of the public are Inviled throu8h our two wtbsites kn ty the practice ofZ¢n MlI10n. aome 20 new people dtd x) d1 year. In order to comply N4th Bovernmenl re8uladoo last year we 8dde41 to our wEbslK a Safe the firture. In April 2015 th¢ Charity knk out a loan for £130,(KX) r¢pAyable over 25 yetrs at 4.A over base rats, secured a8WSt its prcfw. 12 Ktortimer Drive. It u8h1 the rernaiDin8 Sha In the priyety of 4 a£ a cost incIlIn8 le8al costs of £135,815. Because the bank rate at January2024 was 5.25% aml thu8 the loan now ¢08ts 9.75•h. The Trustees report that as at year end the balance [cyable. inclwJin8 Inte down to £93204. Th¢ Febnwy June 2023 %sshlnB wue held at St Cas8ian'& Kinibury, the A11 223 sesshin held the Carnielit¢s Bom Hill and the Cktober 2023 Jesshin was held in 12 Mortim¢r Drive. We meet in Oxford on Thursdays and in L4)ndon on TUdaYS in the evenin apart from iwo lon8 Tuesdays when the Roshi 18 there offer Zazenkais in London fiDm 2pn.7.45pm.. Donations increased in number but ¢ae of a significant IK)iler replacement cost there Was only small suAUS on the wl¢ted funds of £406. The Trusttts are satlsfled that the reserves are sufficimt to m1 all the liabllltle8 for le&t 12 montlLry from the date the report 18 Si8nryL Finaneial Review, Illyestment Pollcy and Reserves Th¢ Tntst remains fin•Kially gound and an thiuth level of unre*rfC1 reserv¢8 not Approved by the tThee8 OD the 5. June 2024. arml SI by." Dayid BIowtr4 Chair of Trustees Page 4
Independent Examiner's Report to the Trustees of The Oxford Z£n Centre of the Sanbo Zen Kamakura Japan I rewrt on the accounts of the charity for the year ended 31. January 2024, which are set out on pages 6 to 9. Respective Responsibilities of Trnstees and Examiner As the charity's trustees you are responsible for the preparation of the accounts. You consider that the audit requirement of section 144 of the Charities Act 2011 {the Act) does nol apply. and that an independent examination is needed. Il is my responsibility to state on the basis of Procedures specified in the General Directions givcn by the Charity Commissioners under section 145 of the ACL whether particular matters have come to my attention. Basis of Independent Examiner's Report My examination was carried oul in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounling rccords kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audiL and consequently I do not express an audit opinion on the view given by the accounls. Independent Examiner's Statement In connection with my examination. no matter has Come to my attention: (l ) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of thc Act. and to prepare accounts which accord with the accounting records and to comply with the accounting requiremenls of the Act have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Pekr J.skVrr0. Peter J. Stevenson Chartered Accountant 8 Harbord Road Oxford OX2 8LJ Date: 5 June 2024 Page 5
THE OXFORD ZEN CENTRE OF THE SANBOZEN KAMAKURA JAPAN Charity No: 1093036 STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31ST JANUARY 2024 2024 Tots 2023 Totals Ftsr•J INCOME Donalons 4.713 28,998 33.711 2.908 29.894 Activilies for gerating lund8.' Fees less orartts paid Fundraislng Rent 24.797 371 23,624 371 1.405 6,778 324 2,105 6,778 639 2.105 315 Intgresl rnceivablè 545 545 181 181 TOTAL INCOME 56.115 59.655 3.223 36.374 39.597 EXPENDITURE Fundrai8lng a1 publluty Chariiable activiiièB Se88hin costs Zen Centro repairs and Improwments Premises ¢osts Other 8clivrty costs Mortgage Interest G0Mance c081s 22.951 6,982 7,8(Kl 8.206 9.510 2CKI 22.951 6,982 4.826 3.850 6,326 8,764 5.954 200 3.850 6,326 4,877 5.954 200 4.625 12.831 9,510 3,887 TOTAL EXPENDITURE 4,82S 55.649 60.274 3,887 26,033 29.920 NET MOVEMENT IN FUMDS 420 10J41 9.677 Surplus on property revaluation Transfer l)ets•en funds 358 458 R0¢111 olFunds Funds blf at 1$1 February 2023 8.941 313,828 320,768 7,247 303.845 311.092 Totsl lund• ¢n4t 31•t J•nu•ry 2024 £5,855 £314,293 £320.149 £1941 £313,828 £320,768 Thè notes on pages 8 and 9 fomi part ol Ilw acc4xxts. l acllvitie6 are contsnulng. There are no gwns and Ios8e8 other than those recogni8ed through tho Statement ol Financial Activilm. P49• 6
D.. I¥ VM Charlty No: 11193036 BALANCE SHEET AS AT 31ST JANUARY 2024 CURRENT ArySET3 Cash at bk. d•fvutt aLX¥Xmt 2.737 12,541 13.488 2,579 1&989 19.142 CfJorn fxllkq d0 on• -17,080 -13.378 NEf CURREKf A88Ers 401.9119 404764 1.761 141 FUNDS OF The CHARThY Rastr1 Fund8 5.855 .795 8.J41 305,139 148 The not08 on pw 8 aThJ 9 ftym pwi Itwe a¢¢wnts.
THE OXFORD ZEN CENTRE OF THE SANBOZEN KAMAKURA JAPAN Charlty No: 1093036 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JANUARY 2024 1. Basls of accounting These financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102).The statements should be read in conjuncb'on with the accompanying Annual ReporL 2. Accounting pollcle8 (a) Incomlng re8ource8 a included in the SofA when: The charity becomes entitled to the resources. It is probable that the income will be received. The monetary value can be measured with sufficient reliability. The increase in sesshin income and expenditure compared to 2023 is because the activities in 2023 were greatly restricted because of COVID. (b) Liabilitlo8 are recognised as soon as there is a legal or constructive obligation commith'ng the charity to use its resources. 3. Exp•ndltur• Expenditure includes the Independent Examinerfs fee of £200 (2023 £200). No Trustees were paid remunerab'on or other expenses during the year {2023 £NIL). The expenses of a related paty, Sandy Chubb Roshi who is the wife of trustee John Chubb were £5,392 (2023 £3,222). The average number of employees was NIL {2023 NIL). 4. Flxed as8•ts: tanglble as80ts The charity owns 1 OOYO of the propety at 12 Morttmer Drive, Oxford,. this is shown at what the trustees consider fair value at £400,000 (2022 £400,000), in the light of valuations of other properb'es in the immediate area and the condition of the propety. The charity has a mortgage loan of £130.000 taken out in April 2015 over 25 years at 4.50A over base rate to finance part of the original cost of the house. This loan has now reduced to £93,205 shown as loan instalments due within one year £11.444 and after more than one year £81,761. 2024 2023 5. Debtor6 Debtors.. HMRC - Gift Aid Prepayments.. sesshin uts'Sities 2,924 2,737 £2,924 £2,737 Page 8
THE OXFORD ZEN CENTRE OF THE SAN80ZEN KAMAKURA JAPAN Charity No: 1093036 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JANUARY 2024 2024 2023 6. Cr•ditor8 falllng due withln one year Other creditors.. teachers. etc. Mortgage interest accrued Loan instalments due Independent Examine¢s fee 1,208 757 11,444 200 13,609 3,471 £17.080 321 640 9.865 200 11,027 2,351 £13,378 Sesshin monies received in advan 7. Credltorn: Amounts falling due after more than on• year Mortgage repayments of principal due 81,761 £81.761 8. Re8trlcted Funds are made up as follow8 . Teachers. Funds Bursary Fund £84,996 2,898 2,957 £ 5,855 2,811 4,130 £ 6,941 9. Going concern After making appropriate enquiries, the Tnjstees have a aSonable expectation that the charity has adequate resources to continue operats'ng for the foreseeable future. The Trustees have taken appropriate actions to minimise the effect of the rise of interest costs by paying off the loan whenever posiible. Under all snarIO$ reviewed the charity has sufficient reserves to conb'nue operating as a going concern for at least 12 months from the date of signing this report, so has adopted this basis in preparing the accounts. Page 9