JAMYANG BUDDHIST cErRE DIRECTORS, AND TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2021 *Ab75KVP(• 281fXI2022 CCWANIES HOUSE A11 217 Company No: 05264030 Charity No: 1106802
JAMYANG BUDDHIST CENTRE REPORT AND ACCOUNTS CONTENTS Dirertors. and Trustees. Report Independent EX[ne$ Report ststement of Financial Actiwties Balance Sheet io Notes to the Accounts 11-20
JAMYANG BUDDHIST CENTrE DIRECTORS, ANO TRUSTEES. REPORT FOR THE YEAR ENDED 31" DECEMBER 2021 The trustees are pleèsed to present their annual dirertors. report together with the financial statements of the charity for the year ended 31" December 2021, which are also prePad to meet the requirements for director5, report and Companies Act The financial statements comply with the Charities Act 2011. the Companie5 Act 2CQ6, the Memrèndum and Articles of A550ciation. and Accounting and Reporting by Charities.. Statements of Recommended Practice applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151- OBJEcnvE5 AND AcnviTIES The charivs objectives are to advance the Buddhist farth and to assist Buddhist charitable institutions throughout the United Kingdom. and elsewhe, making Buddhism available to anyone who requests them. The main activitie5 undertaken in relation to these purposes are the provish)n of Buddhist study programme5. community religious services and courses, events and actlt$ las Outlined under "Achievements and Perforniance" below) to enhance the mental health and well-being of the communty. Achlevements and Perforrnance 2021 saw the gradual re-opening of our physical Spa and a continuation of our online activities, including the 5-year in-depth study programme. Basic Programme. with 180 students enrolled from around the world which launched in 2020. In September 2021, we launched a second in depth Buddhist Philosophy pilot programme, Exploring Buddhism, with 140 students enrolled. WTth an optK)n to attend online or on campus. We furthered the Inclusivity Ambassadors Programme by awarding a further eight scholarships. Science & Wisdom LIVE. a project launched in 2020, to brin8 in dialogue scientists and contemplative practitioner5 to discuss society's biggest challenges further flourished. We held high profile speakers such as Dr. Cado Rovelli. Dr Rupert Sheldrake or Dr Vandana Shr¥è. Our pcxlcasts were downloaded over 6,C4JO time5. It also launched a new series. The Lighthouse Dialogues. interviewing spiritual luminaires of all traditions. The upgraded Lotus Guest House re-opened. welcoming guests from around the workl. The Yard Café also opened for a lively summer residency. And Venue Hire actNty understandabty slowed down considerably needing to adapt by launching a new Co-working space giving new opportunities to explore the changing landscape of room rentals. Volunteers Jamyang 15 fortunate to attract a number of volunteers in a range of capacities. All the board members and nearly all the Buddhist teachers at the centre offer their services as volunteers. Volunteers also play a key role in organizing classes; looking after visiting lamas,. leading prayer ceremonies- organizing and staffing special events; supporting the upkeep of the building and garden.. fundraising for and creatin8 holy objects. and many other areas of the centre's actT¥ities. In addition, Jamyang runs a residential volunteer scheme, where volunteers can gain experience of what it takes to run a listed building offering not only Buddhist but a150 wellbeing and community-focused activities. This opwrtunity is available to a maximum of five volunteers at any one time. Volunieers are invited to spend 3-months in community with an option to extend for a year-long residency for candidates who were looking for deeper immersion into Buddhist study and community.
JAMYANG BUDDHIST CENTRE DIREcfoRS' AND TRUSTEES. REPORT Icontinuedl FOR THE YEAR ENDED 31" DECEMBER 2021 Plans for FUre Arti¥itles In May 2022. Jamyang s launchiNd its third concurrent mumi-year study programme, Discovering Buddhism. Science & Wisdom LIVE projert will continue to host regular podCaS and dialogues. including interyiews a5 part of The Lighthouse Dialogues with Satish Kumar and John Butkr. It will also launch its first e-Learning course. We will also run a second 12-week analytical programme in partnership with Skeptic's Path to Enlightenment. The Old Courthouse will carry on running the Lotus Guest House and plans to re-open its Café. The centre will continue to provide- Regular classe5 on BUddhM and meditation both online and face to fa. Regular Buddhist prayer groups and ceremonies. A quiet supportive environment for Buddhist study. including library and garden. Information about other Buddhist activities tM)th nationally and worhlwide. Ya classes for Refu8ees Publit Benefrt Ststement In shaping objectives for the year and planning activities, the trustees have considered the Charity Commission's guidance on public benefrt, including the guidance'public benefrt: running a charTty IPD21' The achievements and activities above demonstrate the public benefit arisin8 throu8h the Charity's activities. FINANCIAL REVIEW The Statement of Financial Activities shows a net Surplus of £181,52512020= £69.0121 for the year, resuhing in Reserves standing at £808,8(N)12020-. £627.2751 at 31 December 2021. The chartty has three key income streams.'111 donations from meditation courses and buddhist teachings which received donation5 of £162,797 in 2021,121 other donations. grants and membership fees whith ceived donations of £266.518 in 2021- and131 facility rentaL% which hall irKome of £58,338 in 2021. In addition to this. other income receNed in 2021 was £28.825. During 2021, a total of £65,512 was invested in additional assets for the improvement of the building and for new equipment and fixture5. The financial position of the charity as at 31 December 2021 reMaId healthy. ReseNes Policy The Directors consider it prudent to maintain an adequ*e balance of unrestrirted funds to cover the Chariws contractual commitments. The Directors consider that the CharlS reseryes will enhance the ser¥ices provided and provide financial security for the future. The re5erve5 poliry of the charity is to endeavour to hold 6 months. wnning costs in free unre5trirted reserves. As at 3tst December 2021. the unrestritted reserve5, not desienated and not held as fixed assets, were £230,260. This represent5 over 8 months running costs. The charity c105ely monitors the level of reserve5 and ensures that these are maintained by the use of good management and financial controls.
JAMYANG BUDDHIST CENTRE DIRECTORS. AND TRUSTEES. REPORT (Continued) FOR THE YEAR ENDED 31" DECEMBER 2021 Investment Pgwers and Policy Under the Memorandum ènd Articles of Association. the charity has the powerto make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that osh deposits meet their requirements to generate income. STRucfuRE, GOVERNAPKE AND MANAGEMENT Governing Document Jamyang Buddhist Centre Ithe wortl 'Limited' being omitted by licence from the Board of Trade) is a Company Limited by guarantee and not having capital divsded by shares. The charity was incorporated on 19th October 2004 and commenced actNity on 1st January 2C#J5. The company wa5 re8isteretl as a charity on 16th November 2CIM under Registration Number 1106802 and the company registration number is 05264030. Recruitment and AppoiThtmeiit of Trustees As set out in the Articles of Association the chair of the trustees is nominaied by the other trustees. The Dirertors of the Organisatn are alsothe chèrityirustees forthe purposes of charf(y law. The Board of Trustees have the power to appoint additional Trustees as it considers fit to do so. The Trvstees have no beneficial interest in the company other than as members. The Trustees are also the directors of the company. All of the Trustees are members of the company and guarantee to contribute £1 in event of winding up. The Board has the powerto appoint additional Directors. Trustee Induction and Training The Trustees maintain a good working knowledge of charity and company law and best practi by regular reading of charity press articles and scrutinyof Companies House, Charity Commission. other Government and voluntary organisation advisory websites. New Trustees are gwen copies of the Memorandum and Articles of Association and copies of previous years. minutes and attend an induction session given by an experienced Trustee. Safeguarding training is now offered bi-annually together with bi-annual Safeguardin8 Practice Groups. Or8anisation The trustees of the company meet quarterly as a Board, but have a150 Set up a range of sub-groups, which meet with the Director between Board meetings. This includes Finan, Education and Safeguardin8 Committees. The Director carries responsibility for the executive management of the charity and for the line- management of the staff team, which during 2021 included a Resident teacher and six other staff, assisted bv full and part-time volunteers. Risk Mana8ement The trustees have a risk management strategy whith comprises: An annual review of the ri%ks the charity may face,. The establishment of systems and procedures to mitigate those risks identified in the plan: Implementation of procedures designed to minimise any potential impart on the charity should those risk5 materialise.
JAMYANG BUDDH15f CENTrE DIREcfoRS' AND TRUSTEES. REPORT Icontlnued) FOR THE YEAR ENDED 31st DECEMBER 2021 Related Parties The charty has a close relationship with Courthouse Community Centre Iprevk)usly Compassion in Action. London) a company incorporated in England. company number 3796662. which is closely connected by way of its directors I trustees. Jamyang Buddhist Centre is affiliated with the Foundation for the Preservation of the Mahayana Tradition, Inc., a California non-profit reliEi¢)us Corration. The Affiliation Agernent came into effect on 5th July 2010. REFERENCE AND ADMINisfRATIVE DEfAIIS OFTHE CHARITY. ITS TRusfEES AND ADVISORS Charlty number: 1106802 Company number.. 05264030 Registered office & operational address: The Old Courthouse. 43 Renfrew Road, London SEII 4NA Current OirertOf5 and Trustees: Ali50n Murdoch Icharity Chairl Robin 8ath Erik Rinner Andras Kondor Jan Andresen Keval Shah Nikolaus Holzinger Pempa Samuels Appointed 1410312018 Appointed 1911012(M)4 Appointed 1410312018 Appointed 1010312019 Appointed 1010312019 Appointed OV0812020 Appointed 3010112022 Appointed 3010V2022 Management Team: Fabienne Pradelle- Executive Director, Kamlo Chen-Duffy- Spiritual Programme C¢>ordinator Paul Wells- Operation5 Manager Banke. CAF 8ank LimTted, Kings Hill, West Mallin& ME19 4TA IDdependent Examiner: Lewes Accountsncy and Tax Services, Ila Southover High Stet, Lewes, BN7 IHT.
JAMYANG BUDDHIST CENTRE DIREcfoRS' AND TRUSTEES, REPORT Icontinued) FOR THE YEAR ENOED 31st DECEMBER 2021 Trustees, responsibilities in relation to the financial ststemert The Trustees (who are also directors of Jamyang Buddhist Centre for the purposes of company lawl are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation. Company law requires the Trustees to prepare financial statements foreach financial year. Underthat law the Trustees have elected to prepare the financial statements in accordance with United Kingdom General Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unle55 they are satisfied that they give a true and fair view of the state of affairs of the company and of its income ènd expenditure for that period. In preparing these financial statements. the Trustees are required to.. select suitable accounting policies and then apply them cons1sterrt,. obserwe the methods and prinaples in the Charities SORP- make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subj'ect to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in busin$. The Trustee5 are responsible for keeping adequate accountin8 records that are sufficient to show and explain the companVs 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 2W6. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps forthe prevention and deteclion of fraud and other irregularities. The Trustees are responsible for maintenance and integrityof the torporate and financial infomiation included on the charitable company's website. Legislation in the Unfted Kingdom governing the preparation and dissemination of financial statements may differ from legslation in other jurisdiction5. APPROVAL This report was approved by the Board of Directors and Trustees on 10 June 2022 and si8ned on its behalf.. Alison MLrrdoch- Chair
INDEPENDENT EXAMINEWS REPORT TO THE TRUSTEES OF JAMYANG BUDDHIST CENTRE I report on the accounts of the company for the year ended 31° December 2021, which are set out on page5 9t021. Respective responslblllties of trustees and examlner The trustees Iwho are also the directors of the company for the purwses of company lawl are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act"). The charrvs trustees consider that an audit ts not required for thrs year under Part 16 of the 2006 Act and that an independent examination is needed as the companls gross income exceeded £250.000. l am qualffied to undertake the independent examination by bel a qualrfied member of the Institute of Chartered Accountants of Ireland. It s my respon5ibilrty iO- examine the accounts under sertion 145 of the Att. to follow the procedures laid down in the genernl Directions grrfen ty the Charity Commission (under section 145lSllbl of the Charities Act. and to state whether particular matters have come to my attention. Basi5 of independent examiner's report My examination vlas carried out in accordance with general directbons gNen by the Charity Commission. An examination includes a review of the accounting records kept bythe charity and a ComparOn of the actounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seekin8 explanatKins from the trustees concernin8 any suth matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whetherthe accounts present a'true and fairf view and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination. no material matters have come to my attention which gives me cause to believe that in, any material Spect.. accounting records were not kept in accordance with section 386 of the Cornpanies Act 2006: or the accounts do not accord with such records: or the accounts do not comply with relevant accountin8 requirements under section 396 of the Companie5 Act 2006 otherthan any requirement that the accounts give a 'true and fair. view which 15 not a matter considered as pèrt of an independent examination- or the accounts have not been prepared in accordance with the Charitie5 SORP IFRS1021. I have no concems 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. Q).16L EAMON WALSH FCA. cfA CHARTERED ACCOUNTANT LEWES ACCOUPKANCY AND TAX SERVICE5 Ila SOUTHOVEII HIGH STrEET LEWES. BN7 IHT 10 June 2022
JAMYANG BUDDHIST CENTRE STATEMENT OF FINANCIAL AcrivmES FOR THE YEAR ENDED 31° DECEMBER 2021 SUMMARY INCOME AND EXPENDITURE ACCOUNT Unrestrirted Restricted Fund5 Funds Total 2021 Total 2020 Notes Income Donations and legacies Income from charitable activities Income from trading attivities Investment Income Total Income 317.199 4.725 82,438 28 404.39) 112.116 429,315 4.725 82,438 28 516.506 240,657 4,591 86,397 143 331,787 112,116 ExpendltuTe Cost of raisine funds Expenditure on charitable activities Total Expenditure 71,463 236.877 308,340 71.463 263,518 334,981 66,763 196,012 262,775 26,641 26.641 Net in¢ome/{expenditurel and net movement in fvn(ts forthe year 96.050 85.475 181,525 69,012 Reconciliotion offunds Total funds. brought fonmard Total lunds. carried forward 380,169 476.219 247,106 332.581 627.275 808,800 558.263 627.275 The Statement of Financial Artivities also complies Wlth the requirements for an inciime an(J expenditure account under the Companies Act 26. CONTINUING OPÉRATIONS None of the company's artNitie5 were acquired or discontinued during the above financial periods. TOTAL RECOGNISED GAINS AND LOSSÉS The company has no recognised gains or losses other than the above mvement in funds for the above two financial periods. The notes on pages 11 to 20 form part ofthese accounts.
JAMYANG BUDDH15T CENTRE BALANCE SHEET AS AT 31" DECEMBER 2021 2021 2020 Notes FIKed assets Tanghble assets li 427,748 402,174 Current assets Stock Debtors Cash at bank and in hand 12 2.600 13,009 277.503 293,112 3,139 409,960 415.699 Liabilities Creditors falling due within one year 14 34,647 68.011 Net Current Assets 381.052 225,100 Net Assets 808,8 627,275 The funds of the fharlty Unrestricted Funds- General Designated Restricted Funds 15 15 15 419.219 57,0 332,581 323.169 57,OCKI 247.106 Total charity ndS 808.8CK) 627,275 For ihe financtal pericxl ended 31" December 2021 the company was entitled to e¥emptKin from audit under Section 477 Companies Act 2LX16. No memberof the company has deFX)Sited a notice, pursuant to section 476. requiring an audit of these financial statements under the requirements of the Companies Act 26. The directors acknowledged their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 of the Act and for pparIng financFal statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or ioss for the financial period in accordance with the requirements of Sertion 394 and 395 and which otherwise compty with the requirements of the Companies Act 2Lb)6 relating to accounts, so far as is applicable to the company. These financial Statements have been prepared in accordance with the proVlonS applicable to companies subject to the small companies, regime within Part 15 of the Companies Act 26. These accounts were approved by the Board of Trustees on ioth June 2022 and were 5i8ned on its behalf by- Alison Murdoch- Chair Company number 05264030 The note5 on pages 11 to 20 form part of these accounts. io
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNrs FOR THE YEAR ENDED 31" DECEMBER 2021 AccouKnNG pouaES The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period and in the preceding year. Basis ol preparati< of accounts The financial statements have been prepared in attordance wrth Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accourtts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20201 Charity SORP IFRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 21X)6. Jamyang Buddhist Centre meets the definItn of a public benefrt entity under FRS 102. The financial statements are prepared in sterlin& which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts Ifinancial statements) have en ppared under the historical cost convention WTth items recognised at cost or transaction vèlue unless otherwise stated in ihe relevant notelsl to these accounts. In¢ome re¢o8nition Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the itemlsl of income have been met. it is probable that the income will be receNed and the amount can be measured reliablv. Income received by way of grants. donations and legacies are included in full in the Ststemenl of Financial Activitie5 when retsived, unless they relate to a specified future period, in which cèse they are deferd. Legacies entrtlement is taken as the earlier of the date on which either= the charity is aware that the probate has been granted. the estate has been finali5ed and notification has been made by the exetutorlsl tothe Charity that the distributi Is made, orwhen a distribution 15 received from the estate. Ibl Income from charitable activities e1Ved by way of revenue grants and donations are credited to restricted incoming resources on the earlier date of when they are received or when they are receivable. unles5 they relate to a specified future period, in which case they are deferred. Grants and donations of a general nature which are not conditional on delivering certain levels of service are included as part of Grants, OonatK)ns and Legacies as shown under Note 2. Performance-related grants and donations which have conditions for a Specif outcome are included as Income from Charitable Artivities as shown in Note 3. Capital grants for the purchase of fixed assets are credited to restricted incoming resources on the earlier date of when they a receive(J or receivable. Depreciation on the related fixed asset5 IS charged against the restrirted fund. Income from charitable activities includes income recognised as earned las the related goods and services are provided) under contract. in the fomi of training income. Rental income is credited to income in the year in which it is te1vable. Shop income is recognised as eamed (that is. as the related goods are provided). Investment income included when receivable. Ihl li
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS (Continuedl FOR THE YEAR ENDED 31# DECEMBER 2021 Volunteers and donated servi$ and faalities Donated professional services and donated facilTties are recognised as incoffle when the chartty has control over the item, any conditions a550ciated with the donated item have been met. the receipt of economic benefitfrom the use bythe charity of the item is probable and that economrc benefit Can be measured reliably. In accordante with the Charities SORP IFRS 1021, the general volunteer time is not COgnISed and refers to the trustees, annual rewrt for rnore infomiation about their contribution. On CeiPt, donated professional seryrces and donated facilities are recognised on the basis of the value of the gift to the tharity which is the amount the charity would have been willingto pty to obtain services orfacilities of equivalent economic benefit on the open market. a corresponding amount 15 then recognised in expenditure in the period of receipt. Preparation ot accounts on a 8oin8 ¢oncem basis The Charity's Financial Statements show net surplus of É181.525 for the year and free reserves of £230,260. The trustee5 are of the view that the Charity will be able to secure funding for the next 12 to 18 months and on this basis, the Charity is a going concern. Expenditure recognltlon and irrec¢>verable VAT Expenditure is cOgnised once there is a legal or constructive obligation to make a payment to a third party. it 15 probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classrfied under the following activity headings: al Cost of raisin8 funds comprises the costs associated with facility rentab and the costs of seeking donatrons and legaaes, membership servKes and other fundraising actbvities and their associated support costs. bl Expenditure on charitable activitres intludes the costs directly associated wrth holding classes, events and running a Buddhist Centre. to further the purposes of the Charty and their a550ciated 5UPPOrt CQSts. Irrecoverable VAT is charged as a c05t against the artNity for which the expenditure was incurred. Allocation of support costs Support costs are those functtons that assist the work of the charity but do not directty undertake charitable attivitie5. Support costs include back office costs, finance and administration personnel, payroll and governan costs which support the Charivs programmes and activitbes. These costs have been allocated between cost of raising funds and expenditure on charitable artivities. The basis on which support costs have been allocated is set out in note 7. Funds strtscture The general fund comprises those monies which may be used toward meeting the charitable objectives of the company at the (liscretion of the Management Board. The desienated funds are monies Set aside out of general funds and designated for specrfK purposes by the Management Board. The restricted fund5 are monies raised for. and their use re5tritted to. a specifK purpose or donations subjett lo donor imposed conditions. 12
JAMYANG BUDDHisf CENTRE NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31" DECEMBER 2021 Tangible Fixed Assets Tangible fixed assets lexcluding investments) are stated at cost less depreciation. The cost of minor addith)ns or those costing less than £5LKI are not caprfialised. Depreciation is provided at rate5 calculated to write off the cost or valuation of fixed assets. less their estimated residual value. over their expected useful live5 on the following bases: Freehold larKI Freehold buildings Fixtu$, frttings & equipment A part olthe buildingowned and occupied byjamyang Buddhist Centre is rented (Mjt to indrviduals. The Charitv has decided not to recognise the rented portion of the buildin8 at market value, as required by SORP 2017 IFRS 1021 as it considers it is impractical to obtain a market value forthat part of the building. not depreciated. year5. 4 years. Stock Stock is shown at the lowerof cost and net realhsabk value. Stock consists of shop Stock. 1.10 Debtors Trade and other debtors are CogniSed at the settlement amount due after any trade discount Offed. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.11 Cash at bank and in hand Cash at bank and in hand includes cash and Short term cash deposits. 1.12 Creditors and provisions Creditors and provisions are recognised Whe the charity has a present obligation resulting from a past event that will probably result in the traTr5fer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliab. creditors.and provIsn$ are normally recognised at their settlement amount after allowing for any trade discounts due. 1.13 Financial instruments The Charity onty has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inttially recognised at transaction value and subsequently measured at their settlement value with the exceptton of bank kjans which are subsequentty measured at amortised cost U5inB the effective interest method. 1.14 Taxatl¢)n The Charity is a regISted charity and. therefore. is not liable for Income Tax or Corporation Tax on income derived from its charitable activities. as it falls within the various exemptions available to registered charities. 1.15 Penslon costs The charity operates a contributory defined contribution pension scheme, the assets of which are held separately from those of the charity. Pension costs are charged to the SOFA in the period to which they relate. 13
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31A DECEMBER 2021 1.16 Judgement and key sources of estimation uncertainty In the application of the compan$ accounting policies, the charity is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilitie5 that are not readily apparent from other sources. The estimate5 and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are ¢08n1$ed in the period in which the estimate is revised where the revisk)n affects only that period, or in the period of the revision and future periods where the revishjn affetts both trnt and future periods. 1.17 Cash ftow statement The charitable company qualifies as a small company and advanta8e has been taken of the exemption provlded by SORP IFRS 1021 as amended by Bulletin l. not to prepare a cash flow ststement. GRANTS. DONATIONS AND LEGACIES Unrestricted Funds Restrirted FUTMIS Total 2021 Total 2020 Grants for Covid Support Grant for Building Renovation Other Grants and Donations Donations in Kind Membership fees Education donath)ns: Basic Program Education donations.. Exploring Buddhism Education donations.. Science and Wisdom Education donations: Other Pro8rammes 25.286 6.250 80.180 8,736 33.950 79,070 17.502 22.047 44.178 317.199 25.286 6.250 192,296 8,736 33,950 79.070 17,502 22,047 44.178 429,315 49.541 18.750 77,531 112.116 26,024 40.869 906 27,036 240.657 112,116 The donations and legacies in 2020, totallin8 £240.657. were attributed to £213,7f unrestricted funds and £26.897 restricted funds. INCOME FROM CHARITABLE AcnvmES Total 2021 Total 2020 Funds Funds B¢)okshop income Cafe income 691 4.034 4,725 691 4,034 4,725 1,209 3.381 4.591 The income from tharitable actNities in 2020. totslling £4.591, was attril)uted to unrestricted funds. 14
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31M DECEMBER 2021 INCOME FROM OTHER TRADING AcnvmES Unrestfi(ted Funds Restrfcted Funds Total 2021 Total 2020 Rental income Employers allowance and Fudough Income Other fundraising income 58,338 7.825 16,275 82.438 58,338 7,825 16.275 82.438 56.561 28.122 1,714 86,397 The income from other tradin8 activtties in 2020. totallin8 £86.397. was attributed to unrestricted funds. INVESTMEfrrr INCOME Unrestrirted" Funds Reslricted Funds Total 2021 Totsl 2020 Interest on cash depjsits 28 28 28 143 143 The investment income in 2020 totalling £143 was attribjted to unrestfitted fund ANALYSIS OF EXPENDITURE R•Sslng Fund Charitable A¢tl¥ltles Raising Faallty Education E¥ents & Community Fund Funds Rentsls Programmes Activities Activltiès Actl¥ltles Total 2021 Total 2020 Staff Salaries and other staff related costs prnIseS costs 16,301 16.886 63,711 41.941 7,111 145.950 114.991 918 9,185 6.123 9,185 2,143 27.554 23.972 Donations and offerin85 Other dir*rt costs 12.522 14,151 26.673 3.123 910 4.59] 4.5x1 3.169 9.218 22,478 22,053 Support Costs (Note 71 Governance Costs (Note ?) 5.163 20,651 30,977 41.302 5.163 3.272 106.528 91.024 290 1.160 23.582 47 1,739 107.141 2.319 IiiA60 290 17.876 5.798 334.981 7,612 262.775 26.641 Of the £334,981 expenditure in 2021 {2020= É262,7751. £308.340 was charged to unrestricted funds 12020- £237.6511 and £26,641 to restricted fund$12020: £25.1241. 15
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31st DECEMBER 2021 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS The Charity initially identrfies costs of rts support functions. It then identifies those costs which relate to the governance function. The governance costs and other support costs are apportioned separately between the charity's four key actNities undertaken (see note 61 in the year. All the general support and governance costs have been apportioned to the various charitable activities on the basis of staff time allocated to each activity. General Support Governance Funrtlon Total 2021 Total 2020 Staff salarie5 and other staff related costs Premises costs Communication and printin8 Insurance Legal & professional fees Bank and credit card charge5 IT and MIslIaneOuS expenses Depreciation Independent examination 22,486 3.062 5.642 5,403 2.498 24.984 3,062 5.642 6,103 1.840 5,113 20,044 42,938 2.600 112.326 28.748 10,012 6,095 4,995 2.811 14.902 25,810 2.6th) 98.636 71x1 5,113 20,044 42.938 106.528 INCOME I (EXPENDITURE) FOR THE YEAR Net movement in funds is stated after char8in8: Total 2021 Total 2020 Depreciation of tangible fixed assets Independent Examination 42,938 2,0 25.810 ANALYSIS OF sfAFF COSTS. TrusfEES REMUNERATION AND EXPENSES. AND COST OF KEY MANAGEMENT PERSONNEL Totsl 2021 Total 2020 Wages and salaries Social security costs Pension costs Redundancy payment 140.819 9,780 2,381 112.264 6.140 4.102 4,680 127.186 152.980 No employee received remuneration in excess of £(,0 during the year. None of the Trustees received any remuneration during the year 12020- £nill and no expenses were reimbursed12020= £nill. The key management personnel of the charity comprises the Executive Director and SPC. The total employee benefits of the key management personnel of the charity were £56.59112020- £54,309). 16
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31" DECEMBER 2021 io. STAFF NUMBERS The average monthly number of stsff employed by the tharity during the year was as follows: 2021 Numbers 2020 Numbers Director Main Educatlon Program Administration and support The average monthly number of persons employed by the charity during the year was 8.512020- 61. IL TANGIBLE FIXED ASSETS Total 2021 Total 2020 Net Book Value Freehold land Freehold property Fixture5. Fittings & Equipment 58.000 289.261 80.487 427.748 58,0 293,129 51,046 402,174 Movements in the year Openln Balances Closing Balance Cost: Additions Disposals Freehold land Freehold property Fixture5, Fittings & Equipment 58,IXXI 347.985 132.762 538.747 58,OCK) 347.985 201,274 607,259 68.512 68.512 Openini Balan¢es Charge For Year Closing Balan¢e Deprect*lon: Disposals Freehold land Freehold property Fixtures, Fitting5 & Equipment 54,857 81,716 136.573 3.867 39,071 42.938 58,724 120,787 179,511 12. srocK Total 2021 Total 2020 Goods for Sale 2.600 17
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS IContinued> FOR THE YEAR ENDED 31# DECEMBER 2021 13. DEBTORS Total 2021 ral 2020 Trade debtors Gift Aid recoverabte Other debtor5 Prepayment5 11,3611 4.SOO 12,4911 15.5 3.139 13,009 14. CREDITORS: amowts fallng due within one year Total 2021 Total 2020 Trade credito Taxation and social security Deferred income (see note 151 Other creditors Attruals 34,812 1,896 27,503 1.21x1 2.6CW) 68,011 3,383 20,960 1,2(K) 34.647 15. DEFERRED INCOME Total 2021 Total 2020 Balance as at 1st January 2021 Amount released to income in the year Amount deferred in the year Balance as at 31st December 2021 27,503 124,0881 17,545 20,960 27.503 27.$03 The deferred income released in 2021 refers to Basic Program fees received in advance for the following vear. 16. PENSION COSTS The pension cost charge represents contributions payable by the Charity to the fund and amounted to £2,381 12020: £4.1021. Contributions totalling £nil12020'. Enill were payable to the fund at the yearend and are included in credito. 18
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS {Continued) FOR THE YEAR ENDED 31st DECEMBER 2021 17. MOVEMENT IN FUNDS Balance at 01411.2021 Balance at Expendlture 31-12-2021 Income Restrlrted Funds.. CopitalFuftds with bolanees caniedfvnwrdos un4epredoted c05ts 8uilding Appeal 107.409 1,452 New Roof 125,950 1,702 Heating System ,702 118 242.061 3,272 105,957 124,248 8.584 238.789 Restrirted Funds.. OtherRestrirtedFunds Lineage Project Audio Visual Project Website Project COVID India 2021 Fund Welcome Project (Roger Searle Leeacv) 1.978 1,574 1,493 15.685 3,871 1,574 1.493 14,151 2.280 23.369 13.792 14,151 82.280 112,116 80,000 93.792 Unrestricted Funds Lama Zopa Rinpoche Designated Fund General Funds 57.1XKI 323,169 380.169 57,0 419,219 476.219 404.390 404,390 308,340 308,340 Tetal Funds 627.275 516,506 334,981 808.800 DeKription. nature and pwpose of funds: Restrirted Funds: Capital Funds with tsalan carried forward as un4epreciated costs. 8uilding Appeal Capital furKls received towards the cost of purchase of the freehold building. The balance carried forward represents un-depreciated costs. CapÈtal funds ¢ewed for a new roof. The balance carried forward represents un-depreciated costs. Capital funds received towards the improvements to the heating system. The balance carried forward represents un-depreciated costs. New Roof Heating System Restrfcted Funds: Other Restrirted Funds. Lineage Project Fund restricted for ho objects for the main shrine room. Audio Visual Project Fund restritted for audiolvideo equipment for offering online teachings. Website Fund Fund restricted forwebsite development. F.und restricted for Covid support in India. Fund restricted for using Legacy from Roger Searle for the Garden Room (part ofthe Wekome Project). COVID India 2021 Fund Welcome Project (Roger Seade Legacy} Deslgnatedfunds." Lama Zopa Rinpoche Designated Fund: Represents amounts thatthe Trustees have decided to designate for the purpose of providing financial support for future year5. General lunds: General funds represent fun(ts available to spend at the discretlon of the Trustees after allowing for all the designated funds. 19
JAMYANG BUDDHIST CENTRE NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31# DECEMBER 2021 i& ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS Unrestricted Desi8llated Ilestrirted Funds Funds Funds Total 2021 Total 2020 Tangible fixed assets Net current Assets 188,959 230,260 419.219 238,789 93,792 332.S81 427,748 381,052 808.800 402,174 225.100 627.275 57,iNXI 57,LN)O Tangible fixed assets included in Restricte(i Funds is comprised of the net book value of the following assets: Total Tolal 2021 2020 Freehold land Freehold property 58,000 180,789 238.789 58,0(M) 184.061 242,061 19. RELATED PARTY TRANSAcfioNS Courthouse Community Centre: During the year the Charity undertook the following transactions with Courthouse Community Centre, which is closely connected by way of its Directors l Trustees- Accommodation and faulities income feceivable £nil12020: £2,027> Key Managernent PeThorbnel and Tntee5 A member of the key management personnel paid the Charity rental of £6."(xKI12020= £6,000). Trustees donatKins to the charity for the year totalled £5.85612020= £2.3301- 20