SANDWELL ACCOUNTANCY SERVICES LTD. SIIITE A. OLD BANK BUILDINGS L:PPER HIGH STREET. CIL4DLEI' HEATH 'ESI" MIDLANDS. B64 iHY Tcl. 01_384 i69197 Mob. l)7912 288843 E111 ciwiiirics li Sds-¢0llnIS.cO.uk Wcbsilc". Il"iiThi.Sas-coUnts.CO uk HM Registrar of Companies Companies House Crown Way Maindy Cardiff CF14 3UZ Date: 29 July 2025 Our Ref: SAS1I125 Your Ref: 05005759 Dear Sir, Re: Jan chub Lin Buddhist Centre. l attach the above-named client approved accounts to 31 St December 2024, for your attention. Yours Faithfully, Sandwell Accountancy Services CotJiP4LfX% D.K". Soknl COMP1 R¥¥. No 26(kn9Y2
Company Reglstratlon Numbor: 05005759 Charlty Number: 1102344 Jangchub Ling Buddhist Centre Annual Report and Unaudited Financial Statements for the flnanclal year ended 31 December 2024 Sandwell Accountancy Servlces Llmttod Certifled Publlc Accountants Old Bank Buildlngs Upper Hlgh Str•ot Cradley Heath West Mldlands B64 SHY Unltod Klngdom
Jangchub Ling Buddhist Centre CONTENTS Page Reference and Administrative Infornation Trustees. Annual Report Statement of Trustèes. R6sponsibiliti8s Independent Examinerfs Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Notes to the Financial Statements 10-14
Jangchub Ling Buddhist Centre REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Dorothy Brenda Smith (Appointed 18 October 2024) Alison Jane Walter-Brice Martin Jackson (Resigned 18 October 2024) Mary Cansdala Company Secretary Cheryl Bindley Charlty Numbor In England and Wal•s 1102344 Company R0gl8tratlon Numb•r 05005759 Roglstorod Offlco and Prlncipal Addr•ss Ravers House 1 A Sydney Road Cfadley Heath Wesl Midlands B64 58A United Kingdom Ind•p•ndant Examlner Santtwell A¢¢ouniancy Services Lirnited Certified Public Accountsnts Old Bank Buildings Upper High Street Cradley Héalh Wesl Midlands 864 SHY United Klngdom
Jangchub Ling Buddhist Centre TRUSTEES. ANNUAL REPORT for the financial year ended 31 December 2024 Th8 trust8es pr8S8nt th8ir Trustees, Annual Report, combining the Directors, Report and Trusle8s' Report, and the unaudited financial statements for the financial year ended 31 December 2024. The financial statements are prepared in accordance Vth the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Slalement of Recommended Practice applicable to charities preparing their financial slalemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). The Trust88s' Raport contains the infomiation rèquired to b8 provided in the Trustees. Annual Report undèr the Statement of Recommended Practice {SORP} guidelines. The trustees of the charity are also charity irustees for the purpose of charity law and under the charitys constitution are kn¢)wn as members of the board of trustees. In this report the trustees of Jangchub Ling Buddhist Centre present a summary ol its purpose, govemance, activities. achievemenis and finances for the financial year 31 December 2024. The charity is a registered charity and hence the report and results are presented in a fomi which complies with the requirements of the Companies Act 2006 and, although not oblig8d to comply with the Statement of R8commend8d Practice applicable in the UK and Republic of Ir81and FRS 102. the organisation has implement8d its recommendations where relevant in these financial statements. Flnanclal Rovlew The results for the financial year are set out on page 7 and additional notes are provided showing income and 8xp8nditur8 in greater detall. Results and Dlvldend8 At thè end of the financial year the charity has assets of £200.12212023 - £198.355) and liabilities of £6.393 {2023 £15,637). The net assets of the charily have increased by £11.011. Trustees The trustees who served throughout the financial year, except as noted, wer8 as follows.. Dorothy Brenda Smith (Appointed 18 Octob8r 2024} Alison Jane Walter-8rice Martin Jackson (Resigned 18 Odober 20241 Mary Cansdale In accord8nc8 with the Constitution. the trustees retire by rotation and, being eligible. offer themselves for relectIOn. The secretary bvho served during the financial year was.. Ch8ry18indley Compllanc• wlth S•ctor-Wld• L•glslatlon and Standards The charity engages pro-activèly with legislation. standards and codes which arè developéd for the sector. Jangchub Ling Buddhist Centre subscribes to and is compliant with the following: Th6 Companies Act 2006 The Charities SORP IFRS 102) Approved by the Board of Trustoes on 26 and slgned on Its behalf by: Doroth Trustee renda Smlth
Jangchub Ling Buddhist Centre STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 December 2024 The trustees, vtho are also directors of Jangchub Ling Buddhist Centre for the purposes of company law, are responsible for preparing the financial stslements in accordance with applicable law and regulations. Company law requires th8 trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial stslements in accordanc8 With United Kingdom G8nerally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law} including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Seclion 1A (Small Entities). Under company law the trustees must not approvè th8 financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing thesé financial statements. the truslees are required to: select suitable accounting policies and apply them consistently- make judgements and estimates that are reasonable and prudent: state whether the financial statements have been prepared in accordance wilh the relevant financial reporting framework, identrfy those standards, and note the effect and ihe reasons for any mat8nal departure from those standards; and pr8pare the financial stat8ments on the going concem basis unless it is inappropriat8 to presume that th8 charity will continu8 in operation. The Irustees confim that they have complied with the above requiremènts In pr8paring the financial statements. The trustees are responsible for keeping adequate accounting records that are sufficient to show and 8xplaln the charity's transactions and disclose with reasonable arxuracy at any time the financial position of the charity and enablè thefn to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for thè pr8v8nlion and dètection of fraud and other irregularities. Approved by iha Board ol Trust•es on and slgn•d on Its behalf by: y Brenda Trustèe mlth
Jangchub Ling Buddhist Centre INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF JANGCHUB LING BUDDHIST CENTRE We have examined the financial statements of thé charity for the financial year ended 31 December 2024. which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the relaled notes. This report is made solely to the charity's members. as a body, in accordance with Chapter 3 of Part 16 of th6 Companies Act 2006. Our work has been und8rtak8n so that we might compile the financial statements that W8 have bean engag8d to compile, report to the Board of Trustees that we have done so. and state those matters that we have agreed to stste to them in this report and for no other purpose. To the fullest extent permitted by law. we do not accept or assum8 responsibility to anyone other than the charity and the Charity's members. as a body. for our work, or for this report. Re8pectlv• r•sponslbllltlos of trustees and oxamln•r The charity's Iruslees {who are also the directors of the wmpany for the purposes of company law) are responsible lor the preparation of the financial statements in accordance with the requirements of the Companies AGI 2006. The Charity's trustees consider Ihal an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. It is our responsibility to: examiné the financial statements under section 145 of the Act: follow the procedures laid down by the general Diredions given by the Charity Commission under section 14515) of the Charities Act 2011: and slate whether particular matters have come to our attention. Basls of Independent oxamlnèrfs roport Our 8xaminalion was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the chanty and a comparison of the financial statements presentèd wilh thosè records. 11 also includ8s consid8ralion of any unusual items or disclosures in the rinancial stat8m8nls and seeking explanations from the truste8s conceming any such matters. The procedures und8rtaken do not provide all the evidence that would be required in an audit and consequently no opinion is givan as to whether the accounts present a 'true and fair, view and tt)e report is limited to those mattérs sat out in the slalemenl below. Independent examlnerfs statement In connection with our examination. no matter has come to our attention which gives us cause to believe that in, any material respect: accounting records were not kept in accordance with section 386 of th8 Companies Act 2006 the financial slalèments do not accord with those accounting records the financial statements do not comply wilh the accounting requirements of the Charities Act the financial statements have not been prepared in accordance wilh the accounts'ng requirements of section 396 of the Companies Act 2006 and with the methods and pnnciples of the Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS102) there is further infomiation needed for a proper understanding of the accounts to be reached. We have no concems and have come across no olhef matters in connection with the examination to which attention sh Id be drawn in this report in order lo enable a proper understsnding of the financial statement5 to b8 reached. NDWELL ACCOUNTANCY SERVICES LI Certified Public Accountants Old Bank Buildings Upper High Street Cradley Heath West Midlands B64 SHY United King Je•V(LeQ L-thJ Date:
Jangchub Ling Buddhist Centre STATEMENT OF FINANCIAL ACTIVITIES for Ihe financial year ended 31 Dember 2024 Unrestrlcted Funds 2024 Total Unrestricted Funds Funds 2024 2023 Total Funds 2023 Notes Income Donations and legacies Charitable activities - Grants from govemm8nts and other co-funders Other income 10,958 10,958 9.934 9,934 32,523 17,534 32,523 17.534 24.534 15,756 24,534 15,756 Total Income 61.015 61,015 50.224 50,224 Expendtture Raising funds Charitable activities 6,867 43,137 6,867 43,137 7.480 38.463 7,480 38,463 Total ExndIture 50.004 50.004 45.943 45,943 Not In¢omo1{•xp•ndlturo) 11,011 11,011 4,281 4,281 Transfers be88n funds Not movfjmonl In funds for tho flnanclal y•ar 11.011 11,011 4,281 4,281 Raconclllatlon of funds: Total funds beginning of the year 13 182.718 182,718 178.437 178,437 Total funds at th• and of th• yoar 193.729 193,729 182.718 182,718 The Stat8m8nt of Financlal Activlties includes all gains and losses recognised in the financial yèar. All income and expenditure relate to continuing activities. Th8 notes on pages 10 to 14 form part of the fln8noal stateThnts
Jangchub Ling Buddhist Centre SUMMARY INCOME AND EXPENDITURE ACCOUNT for the financial year ended 31 December 2024 Statement of Flnanclal Actlvltles 2024 2023 Gross income Unrestricted funds 61.015 61,015 50,224 Total Incomo Total expendituro 61.015 (50,0041 50,224 {45.9431 Not Incomol(oxpondlture) 11,011 4,281 The charity has no recognised gains or losses other than the surplus for the financial year. The results for the financial year have been calculated on the historical cost basis. The notes on pages 10 to 14 form part of lh& financial slatom&nts
Jangchub Ling Buddhist Centre Company Number.. 05005759 BALANCE SHEET as at 31 December 2024 2024 2023 Notes Flxod Assots Tangible assets 190.144 192.017 Current A8S0ts Stocks Cash at bank and in hand 1.810 8.168 1.396 4.942 9.978 6,338 Crodltors: Amounts falllng duo wlthin on• y•ar 10 16,393) {9,513) N•1 Curr•nt Assetsl(Llabllltles) 3,S85 13,175) Total Assets less Current Llabllltl•s 193,729 188.842 Credltors Amounts falling due after more than one year 11 (6,124) Totsl Not A••ets 193,729 182,718 Fund• General lund lunrestrictedl 193,729 182,718 Total funds 13 193,729 182,718 These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companiès Act 2006. For th8 financial year ended 31 December 2024 the charity was entitted to exemption from audit under section 477 of th8 Companies Act 2006; and no notic8 has been deposited under section 476. Th8 trustees confimi that the members have not required the company to obtain an audit of its financial statements for the financial year in question in acwrdanc8 with section 476 of the Companies Act 2006. Thè trustèes acknowledg8 their responsibilities for ensurlng that Ihe charity keeps a¢¢ounting records vhiich comply with section 386 and for preparing financial slalements vthich give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit and loss for the financial year in accordance with the quirements of sections 394 and 395 and which othèrwse comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity- The financial ststements have been prepared in accordance wrth the provisions applicable to companies subject to Ihe small companies, regime and in acwrdance with FRS 102 The Financial R8POrting Standard applicable in the UK and Republic of Ir81and" applying Section 1A of that Stsndard. Approved by the Board of Trust•e$ and authorlsèd for Issuo on behalf by and slgned on Its Dorothy Brenda Smlth Trustee The noles on pages 10 to 14 fomi part of the ffinancial statements
Jangchub Ling Buddhist Centre NOTES TO THE FINANCIAL STATEMENTS for tha financial year ended 31 Decembèr 2024 GENERAL INFORMATION Jangchub Ling Buddhist Centre is a company limited by shares incorporated in England. The registered office of the charity is Raven House. 1A Sydney Road, Cradley Heath. West Midlands. B64 5BA, Uniled Kingdom which is also the prinapal place ol businéss of the charity. The financial ststements have been presented in Pound (£1 which is also the functional cu8ncY of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistenily in dealing wtth items which ar8 consideréd material in relation to the chanty's financial statements. Ba$ls of preparatlon The financial statements have been prepared on the going concem basis under the historical cost convention, modified lo include certain items al fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORPI -Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland FRS 102". applying Sedion 1A of that Standard. As pemiitted by the Companies Act 2006, the charity has varied th8 Standard fomiats In that act for the Statement of Financial Activities and the Balance Sheet. Oepartures from the standard formats are lo comply with the r8quirements of the Charits'8s SORP and are in compliance with section 4.7. 10.6 and 15.2 of Ihat SORP. Stalement of compllance The financial statements of the chanty for the financial year ended 31 Dec8mb8r 2024 hav8 been pr8pared on the going conc8m basis and in accordancé with the Statement of Recommended Practice {SORP) 'Accounting and Reporting by Chanties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Fund accountlng The following are the categories of funds maintained: Rostrlcled funds Restricted funds represent income received which can only be used for paCUlar purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. Unr•itrlctod fund* Unrestricted funds consist ol General and Designated lunds. General funds represent amounts b¥hich are expendable at the discrèts'on of the board, in furtherance of the obj8Ctives of the charity. Oesignaled funds comprise unrestricted funds that the tKrd has. at its discretion. sel aside for particular purposes. These designations have an administrativ8 purpose only. and do not legally restrict the board's discretion lo apply the fund. Incom• Income is recognised by inclusion in the Statement of Flnancial Activities only when the charity is legally ontitled to the income, perfomiance conditions attached to the item{s) of income have been met. the amounts Involved can be measured with sufficient reliability and tt is probable that the income will be received by the charity. Incomo from charltable activltles Income from charitable activities include income 8amed from the supply of services under contractual arrangements and from p8rformance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from govemment and other co-funders is recognised when the charity is legally entitled to the income because it is fvlfilling the conditions contained in the related funding agreements. Where a grant is received in advance. its recognition is deferred and induded in creditors. Where entiU8ment occurs before income is received. it is accru8d in debtors. Grants from govemments and other CO•funders typically includè one of the following types of conditions: Perfornance based conditions: whereby the charity is contractually entiued to funding only lo the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure. to the extent that it is reimbursable by the donor. as 10
continued Jangchub Ling Buddhist Centre NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 310ecember 2024 in¢ome. -Time based conditions.. whereby the charity is contractually entitled to fvnding on the condition that it is utilised in a particular perio¢J. In these eases the charity reojgnises the income to the extent it is utilised wlthin the period specified in the agreement. In the absence of such conditions, assuming that reIpt is probable and the amount can be reliably measured, grant income is recognised once the charity is nots'fied of entitlement. Grants received towards capital expenditure arè credited to the Statement of Financial Activities wh8n receivéd or receivable. whichever is 8arlier. expondlture Expenditure is analysed between costs of charitable activtties and raising funds. The costs of each activity are separately accumulated and disclosed. and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably mèasured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to adivities in proportion to staff tim8 spent or other suitable measure for each activity. Tanglbl• flx•d ass•ts and d•preclatlon Tangible fixed assets are staled at cost or at valuation. less accumulated d8pr8ciation. Th8 charge to depreciation is calculated to writ8 off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows.. Plant and machinery Fixtures, fittings and equipment Motor vehicles 200h Reducing balance 20Yo Reducing balancé 20Vo Reducing balance Investm•nt proport109 Investrrtenl propety Is prortY held 8ith8r to 8am rental income, or for capital appreciation (includin9 futur8 r8-d8v8lopm8ntl or for both, but not for sale in the ordinary course of business. Invèstment property is initially measured at cost. which indudes the purchase cost and any directly attributable 8xpenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The dtfferènce b8tW8en the fair value of an investment property at the reporting date and its carying valu8 pnor to the valuation is recognised in the Statement of Financial Activities as a fair value gain or loss. Any gain or loss on disposal of an investment property {calculaled as the difference betsveen the nel proceeds from disposal and th8 carying amount of the item) is recognised in the Statement of Financial Activities. Inventorlo$ Inventories are slated at the lower of cost and net realisable value. after making due allowance for obsolet8 and slow moving items. Cost includes all costs incurred in the nomial course of business in bringing them to their present l¢)cation and condition. Inventories comprise fundraising materials. It 1$ not considered practicabl8 to value inventories of unsold donated goods at the financial y8ar end. Cash at bank and In hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxatlon and deferr•d taxatlon No current or deferred taxation arises as the charity has been granted ¢haritabl8 èxemption. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognisèd in respect of all timing drfferences that have originated but not reversed at the balance sheet date where transactions or events have ¢)ccurred at that dale thal will result in an obligation lo pay more lax in the future. or a right to pay less tax in the future. Timing differences are temporary differences between the charity's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tsx rates and laws that have been enacted or substantively enacted by the balance sheet date. 11
continued Jangchub Ling Buddhist Centre NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Dember 2024 INCOME DONATIONS AND LEGACIES Unrestrlcted Restrlcted Funds Funds 2024 2023 Donations and legacies 10,958 10,958 9.934 CHARITABLE ACTivrriES Unrostri¢led Rostricted Funds Funds 2024 2023 Grants from governments and othor co-fundors: Income from charitable activities 32.523 32.523 24,534 OTHER INCOME Unrestrlcted R•8trlct•d Funds Funds 2024 2023 Other Income 17,534 17,$34 15,756 EXPENDITURE RAISING FUNDS Dlrect Costs Othor Costs Support Costs 2024 2023 Raising funds 2.853 4,014 6.867 7,480 Thes8 are costs incurred in attracllng voluntary income. the managemènt of inv8stm8nts and those incurred in trading activities that raise funds. CHARITABLE ACTIVITIES Dlrecl Costs Oth•r Costs Support Costs 2024 2023 Expenditure on charitsble a¢tivile$ 34,234 2,052 6,851 43,137 38,463 Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indir8Ct nature necessary to support them. SUPPORT COSTS Cost of Charitablo Ralslng Actlvitles Funds 2024 2023 Support 4,014 6,851 10,865 4,952 ANALYSIS OF SUPPORT COSTS 2024 2023 Support 10,865 4.952 NET INCOME 2024 2023 Net Income is stated after chargingl{creditingl: Deprecialion of tangible ass8ts 2,052 2,700 12
continued Jangchub Ling Buddhist Centre NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 INTEREST PAYABLE AND SIMILAR CHARGES 2024 2023 On bank loans and overdrafts 736 1.233 TANGIBLE FIXED ASSETS Investm•nt propertlos Plant and Flxturns. machinery ffttlngs and equipment Motor v•hicles Total Cost At 1 January 2024 Additions 181.622 6,700 179 29.568 6,400 224.290 179 At 31 December 2024 181.622 6,879 29.568 6,400 224,469 Depreclatlon At 1 January 2024 Charge for Ihe financial year 3,508 610 23.623 1.190 5,142 252 32.273 2,052 At 31 December 2024 4.118 24,813 5,394 34,325 Net book valuo At 31 December 2024 181,622 2.761 4,755 1.006 190,144 At 310ec6mb8r 2023 181,622 3.192 5,945 1,258 192,017 STOCKS 2024 2023 Flnlshed goods and goods for resale 1,810 1,396 10. CREDITORS Amounts falllng duo wlthln on• year 2024 2023 User definable loan desc. Trade creditors Other creditors AcGruals and deferred income 4,789 560 7.620 56 1,237 600 600 6,393 9,513 11. CREDITORS Amounts falllng due after more th•n on• yoar 2024 2023 User definable loan desc. 6.124 Repayable in one year or less. or on demand (Note 10) Repayable beeen one and two years 4.789 7.620 6,124 4,789 13,744 13
continued Jangchub Ling Buddhist Centre NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 12. RESERVES 2024 2023 At the beginning ofthe year Surplus for the financial year 182,718 11,011 178,437 4.281 At the end of the year 193,729 182.718 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unro$trlct•d Funds Tolal Funds At 1 January 2023 Movement during the financial year 178,437 4.281 178,437 4,281 Al 31 December 2023 Movement during the financial year 182.718 11.011 182,718 11,011 At 31 December 2024 193,729 193,729 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2024 Incom• Exp•ndltur• Transfers Balance bolwoon 31 Docembar funds 2024 Unrestrlcted fund$ Unrestricted General 182.718 61.015 193.729 Total funds 182,718 61.015 50.004 193,729 13.3 ANALYSIS OF NET ASSETS BY FUND Flxed a8SOts - charlty uso Current a8S•ts Curront Ilabllltl•s Total Unrestricted general funds 190.144 9,978 (6.393) 193.729 190.144 9,978 (6,3931 193,729 14. POST-BALANCE SHEET EVENTS There have been no signfficant events affecting the Charity since the financial year-and. 14