THE OXFORD ZEN CENTRE OF THE SANBOZEN KAMAKURA JAPAN Charity No: 1093036 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JANUARY 2025 1. Basis 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 conjunction with the accompanying Annual Report. 2. Accountlng policies {a) Incoming resources are included in the SofA when: The charity becomes entied to the resOUs. It is probable that the income will be received. The monetary value can be measured wrth sufficient reliabilty. The increa* in sesshin income and expendrture compared to 2023 is because the aclivits'es in 2023 were greatly restricted because of COVID. (b) Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to use its resources. 3. Expenditure Expenditure includes the Independent Examiners fee of £300 (2024 £2(X)). No Trustees were paid remuneratM)n or other expenses during the year (2024 £NIL). The expenses of a related paty. Sandy Chubb Roshi who is the wrfe of trustee John Chubb were £3,493 (2024 £5.392) The average number of employees was NIL {2024 NIL). 4. Fixed assets: tangible assets The charty owns 1 Oooh of the propety at 12 Mortimer Drive, Oxford," this is shown at what the trustees consider fair value at £400,000 (2023 £400,000). in the light of valuations of other propertEs in the immediate area arKI the condrtion of the propety. The charity has a mortgage loan of £130,000 taken out in April 2015 over 25 years at 4.5. over base rate to finance part of the original cost of the house. This loan has now reduced to £80,804 shown as loan instalments due within one year £9,906 and after more than one year £70.914 70898 2025 2024 5. Debtors Debtors: HMRC - Gift Aid Prepayments: sesshin Roshi overclaim Interest R1Vable 3,340 2,924 85 70 £3A95 £2.924 Pago 8
. The Oxford Zen Centre of Sanbozen, Kamakura, Japan Report and Financial Statements For the Year Ended January 312025 Charity no: 1093036
THE OXFORD ZEN CENTRE OF THE SANBOZEN KAMAKURA JAPAN Charity No: 1093036 BALANCE SHEET AS AT 31ST JANUARY 2025 2025 2024 FIXED ASSETS Tangible assets" Property. at valualion 400,000 400.000 CURRENT ASSETS Debtors Cash at bank: deposit account current account 3.495 22,257 1,273 27,025 2,924 13.487 2.579 18,990 CURRENT LIABILtriES Creditors falling due within one year -11,039 -17,080 NET CURREKf ASSETS 15.986 1,910 TOTAL ASSETS LESS CURRENT LIABILrriES 415,986 401,910 Creditors: Amounts falling due after more than one y -70,898 -81,761 NET ASSErs £345.088 £320,149 FUNDS OF THE CHARrrY Restricted Funds Designated Propety Fund Other Unrestricted funds 5,611 306,795 32,681 5,855 306,795 7,499 £345,088 £320,149 The notes on pages 8 and 9 fonn part of these accounts. Trustees. responsibilities Charity law requires the trustees to prepare ac(x)unts for each financial period which give a true and fair view of the state of affairs of the chanty and of the results for that period. In Preparing these accounts, the trustees are required to select suitable accounting policEs and to appty them consistently" make judgements and estimates that are reasonable and prudent and prepare the accounts on the going conrn basis unless it is inappropriate to assume that the charity will conb'nue in buslness. The trustees are responsible for keeping proper ac£ounting records which disdose with reasonable accuracy at any time the financlal position of the charity. They are also responsible for safeguarding the assets of the charty, and hen for taking reasonable steps for the prevention and detection of fraud and other irregularibes. David Blowers Chair John hubb Treasurer Page 7
THE OXFORD ZEN CENTRE OF THE SANBOZEN KAMAKURA JAPAN Charity No: 1093036 STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31ST JANUARY 2025 2024 Tot• Tolals IMCOME 4.100 ).924 35,024 4.713 28.998 33,711 Adiviues fw y13tIng ftwKIs'. Fees less grants paid Legacaes l olr Rent -851 25.738 10.692 24.887 10.692 -1173 24.797 371 1.405 23.624 371 876 876 545 TOTAL INCOME 3,249 69.085 72J34 56.11S 59.655 EXPENDITURE FurxJraisiThJ and pU1ty Chanlable aCtivitS Se$shl costs 23.371 23.371 22.951 6.982 7.8 22.951 6.982 PMiseS fA)sts 8.621 8,621 6.765 8,188 450 3.493 Mortgage interest 4,625 12,831 9.510 2CKI 8,188 450 9.510 200 TOTAL EXPENDITURE 3A93 43.902 47J95 4.625 55.649 60.274 NEf MOVEMENT IM FUNOS 24183 419 Surplus on property reValuatn Transfer tettn ILMKIS Reco. al ofFun<ts FuThJs bif at 1st February 2024 314293 320.149 6.941 313.828 320,768 Totsl funds clf at 31s1 January 2024 £5.613 £339.476 £345.088 £5.856 £311293 £320.149 The notes on pages 8 aThl 9 fThm part ol Ilw acc(x*s. All actrlths a continury. T+ are Tr) gars arnl eS olh8r than those recognised thrwh the Statem&rt of Finarthl A¢lnities.
Independent Examinerfs report to the Trustees of The Oxford Zen Centre of Sanbozen, Kamakura, Japan I report on the accounts of the charity for the year ended 31° January 2025, which are set out on pages 6 to 9. Respective Responsibilities of Trustees and Examiner As the charity's trustees you are responsible for the preparation of the accounts. You consider that the audit qUIrementS of section 144 of the charities Act 2011 {the Act) does not apply and that an independent examination is needed. It is my responsibility to state on the basis of Procedures specified in the General Directions given by the Charity Commissioners under section 145 of the Act whether matters have come to my attention. Basis of Independent Examinerfs statement In connertion with my eyamination, no matter has come to my attention: 111 .Which gives me reasonable cause to believe that in any material respect the requirements To keep aoUnting records in accordance with section 130 of the Act, and To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act Have not been met or {2) To which in my opinion, attention should be drawn in orderto enable a proper understanding of the accounts to be aChed. Heather Emerson 4,M Chartered Accountant Horseshoes Lane, Benson Oxfordshire Date: May 2025
Risk Management The Executive Committee regularjy review the risks faced by the Trust. These are not considered to be significant and the surplus funds of the trust are held in a risk averse Charities Deposit Fun(L the COIF with CCLA Investment Management Ltd. Public Benefit Trustees have had regard to the guidance contained in the Charity Commission's general guidance on public benefit. The charity regularly invites the public to induction days" all of the activities are undertaken to further the charity's objectives for the public benefit. Acbievements and Performance In the past year the Trust has continued to pursue the activities as set out above (Objectives and Activitics). Mcmbers of the public are invited through our two websites to ty the practice of Zen Meditation" some ? new people did so during the y¢aT. In order to comply with government regulation, last year we add to our website, a Safe Guarding document which we trust gives added protection to zen practitioncrs and tcachers in the future. In April 2015 the Charity took out a loan for £130,000 rq)ayable over 25 years at 4.5 % over bas¢ rate, secured against its propety, 12 Mortimer t)rive. It bought the remaining share in the property of 400/0, at a cost including legal costs of £135,815. Becausc the bank rdte at January2025 w&s 5.00/0, the loan now costs 9.5 %. lThe Trustees rert that as at y¢ar end the balance repayable, including interest rue<L was down to £80804. The February 2024 sesshin was held at St Cassian's. Kintbury. the July 2024 sesshin was held at St Mary's Wantage and the October 2024 sesshin w&s held in 12 Mortimer Drive and finally the January 2025 was held at Sl Mary's Wantage. We mect in Oxford on Thursdays and in l.ondon on Tuesdays in the evenings. apart from two long Tu¢sdays when the Roshi is there to guide Zaz£nkais in London from 2pm-7.45prn.. Donations increased ID number and with a legacy of £1 0,000 from Shirley Harriott there w&s a surplus £25.183. The Executors of Shirley Harriott also offered and we accepted the copyright of all hcr Iks. The Trustees are satisfied that the reserves are sutTicient to meet all the liabilities for at least 12 months from the date the report is signc(L Financial Review, Investment Policy and Reserves The Trust remains financially sound and has an adequate level of unrestricted reserves not committed to its property. Approved by the trustees on the 12th February 2025 and signed by: avid Blowers, Chair of Trustees Page 4
Management and Governance The Oxford Zen Centre of the Sanlx) Kyodan Kamakurd Japan became a registered charity on July 19 2002 and formally changed its name to The Oxford Zen Centre of Sanbozen, Kamakura Japan on the 29th July 2017. It is governed by a constitution adopted by members on December 7 2001 and subsequently amended by them on June 12002. The Trustees (as set out on page l) forn] the Executive Committee that administers and Manages the charity. Throughout this rep)rt they are referred to collectively &s the Executive Committee. As set out Rn 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 addition, the Executive Committee can co-opi up to 4 members. Mcmbers of the Executive Committee are elected annually at the Annual General Meeting of the members. Members of the Executive Committee are elected by the membcrs of the Trusl and as such are well vcrsed in the practice of Zen Meditation. They are therefore acquainted with the practical work of thc Trust. On being apwintrd as Trustees they are made aware of their responsibilitics as a Trustee by the existing mernt of the Executive Committee. The Executivc Committee met 4 times in the year to administer and manage the charity. Sandy Chubb, Roshi, who w&s authorised directly teacher by the Sanlxizen Abbot in 2013, directs thc Oxford and London Z¢ndos. Sistcr Elaine Maclnnes. who is the charity's founding teacher died on 29 November 2022. Sandy Chubb Roshi holds in person tcacher student interviews during Tuesday and Thursday Zazenkais as well as offering a Dharn Talk to practilion¢rs. Future Plans The Charity is cxpanding its numbers attcnding in Oxford and London due to its lively website in London and Oxford and thc help of Mark Hudson in l.ondon and J&son Doble in Oxford who answer and re-dircct newcomers, queries. Expansion is due also lo thc introduction of two fortnightly newcomer inductions in London and monthly inductions in Oxford held Assistant Zen Teachers Meg Vaughan-Fowler and Peter Wallis.. The Trustees are always alert for new locations to hold longer sesshins, where costs are fair and reasonable for members. Page 3
Trustees Annual Report for the Year Ended January 312025 The trustees are ple&scd to present their report together with the financial staternents of the charity for the year ended January 312025. Objectives and Activities of the Trust The Trust was fornied to educate the public in the study and practice of Zazen (silent meditation) and to advance public knowledge of the teachings of the Sanb07£n tradition. These objectives are mei by a range of activities as set out below: To conduct weekly evening z£n meditation sittings. Saturday Zazenkais and Saturday Koan Practice Days in Oxford, and London and afternoon and evening Zazenkais every forinight in London. To hold 4 annual retreats (107 atiendees in total) To induct newcomers monthly in London and in Oxford and in an Orientation retreat. As well as weekly interviews in person with students. Sandy Chubb Roshi meets sangha members who livc abroad or out of town on zoom cach wcek to aid them in their practice Ten prdctitioners met on the anniversary of The Buddha's cnlightenment to join an all night sitting in Deccmber. The house in Oxford is used by individual students lo fijrther their practice and training and for pcrsonal retreats. The house has also been rented to an employee of the Prison Phoenix Trust. 'Ihe Prison Phoenix Trust work with prisoncrs and prison oificcrs continues to be our outr¢ach where a number of zcn practitioncrs volunteer. Swiss /.en Teacher Silvia Ostcrtag's books "l.iviDg Silence" and "Finding Silence" were translated into English by two membus of our sitting group, and continue to be offered for salc. A Bursary Fund supports members who are not in a position to make regular donations towards the running costs of thc Charity. Of the 167 current members of the charity, nearly 40 % of the memba5 participatc fully or part]y in the activities of the charity although they do not all make such donations because of their religious status or financial circumstances. These objectives and activities are regularly monitored by the Trustees to ensure that they reflect the charity's aims. Page 2
Legal and administrative information Trustees David Blowers (Chair) John Chubb (Treasurer) Mark Hudson { Secretary) Simon Roffey (resigned 24 June 2024) Felix Pring (died 23 January 2025) Peter Popham Eli7abeth Spence Ed Rowe Pete Wallis (appointed 24 June 2024) Charity's oifiee 12, Mortimer Drive, Oxford, OX3 ORR Independent Examiner Hcather Emerson ACA Bankers The Co-opcrative Bank plc, PO Box 250, Skelrnersdale, WN8 6WT CCLA, Senator Housc. 85 Queen Victoria StrceL LoTrdo EC4V 4ET. Page I
Contents Page Legal and adminisirdtive inforniation Report of the trustees 24 Independent Examiner's Certificate Statement of financial activities Balance she¢t Notes fonning part of the financia] statements
THE OXFORD ZEN CENTRE OF THE SANBOZEN KAMAKURA JAPAN Charity No: 1093036 NOTES TO THE AccouKfs FOR THE YEAR ENDED 31ST JANUARY 2024 2025 2024 6. Creditots falling due within one year Other creditors.. teachers, etc. Mortgage interest accfued Loan instalments due Independent Examinerfs fee 132 700 9,9( 300 11,039 1,208 757 11.444 200 13.609 3.471 £17.080 Sesshin monies received in advance £11.039 7. Creditors: Amounts falling due after more than one year Mortgage repants of principal due 70,898 81,761 £70,898 £81,761 8. Restricted Funds are made up as follows . Teachers, Funds Bursary Fund 3,505 2.1( £ S,611 2,898 2,957 £ S,855 9. Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the charity has adequate reSoUrS to continue operats'ng for the fores*able future. The Trustees have taken appropriate tionS to minimise the effect of the rise of interest costs by payig off the loan whenever posiible. Under all SnarioS reviewed the charty has sufficEnt reserves to conb'nue operating as a going conrn for at least 12 months from the date of signing this report. so has adopted this basis in preparing the aco)unts. Page 9