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2022-12-31-accounts

JAMYANG BUDDHIST CENTRE

DIRECTORS’ AND TRUSTEES’ REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31[st] DECEMBER 2022

Company No: 05264030 Charity No: 1106802

1

JAMYANG BUDDHIST CENTRE

REPORT AND ACCOUNTS

CONTENTS

Page
Directors’ and Trustees’ Report 3 - 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Accounts 12 - 21

2

JAMYANG BUDDHIST CENTRE

DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31[st] DECEMBER 2022

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31[st] December 2022, which are also prepared to meet the requirements for a directors’ report and Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

The charity’s objectives are to advance the Buddhist faith and to assist Buddhist charitable institutions throughout the United Kingdom, and elsewhere, making Buddhism available to anyone who requests them.

The main activities undertaken in relation to these purposes are the provision of Buddhist study programmes, community religious services and courses, events and activities (as outlined under “Achievements and Performance” below) to enhance the mental health and well-being of the community.

Achievements and Performance

Our landscape post-Covid is an active calendar of hybrid Education activities. We are now running three concurrent multi-year programmes of Buddhist philosophy and practice. The last program, Discovering Buddhism, launched in May 2022 and enrolled an additional 120 students. We now have close to 400 students engaged in in depth studies.

We furthered the Inclusivity Ambassadors Programme by awarding a further six scholarships for the Discovering Buddhism program, bringing our total of active Inclusivity Ambassadors to thirteen.

Science & Wisdom LIVE, a project launched in 2020, to bring in dialogue scientists and contemplative practitioners to discuss society’s biggest challenges further flourished. We held high profile speakers such as Dr. Anil Seth, Dr. Pim Van Lommel or Dr. Peter Fenwick on topics such as the nature of consciousness or Death & Rebirth. We also undertook the development of our first online course on Buddhism and Quantum Physics to launch in Summer 2023.

Our Courtyard Café has become more active with community activities in partnerships with local organizations such as Roots and Shoots. The occupancy of the Lotus Guest House is high providing a welcome respite for visitors and Jamyang students seeking to stay in London. Venue Hire rentals are slowly picking up as more organizations recognize the benefits of face-to-face meetings.

Finally, we launched a process of developing a new masterplan for our Old Courthouse, working with Cindy Walters, of Walters & Cohen. The plans will help us support greater financial and environmental sustainability for the building, and care for our people by providing suitable accommodations for our monastics and longterm resident volunteers.

3

JAMYANG BUDDHIST CENTRE

DIRECTORS’ AND TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

Volunteers

Jamyang is 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 creating holy objects; and many other areas of the centre’s activities.

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 also wellbeing and community-focused activities. This opportunity is available to a maximum of five volunteers at any one time. Volunteers 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.

Plans for Future Activities

In September 2023, Jamyang’s Science & Wisdom LIVE project will launch its first online course: Buddhism & Quantum Physics. A second course on consciousness is in the pipeline for Q2 2024 launch.

The Old Courthouse will carry on running the Lotus Guest House and further develop its local community activities via its Courtyard Café.

The centre will continue to provide:

Public Benefit Statement

In shaping objectives for the year and planning activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2)’. The achievements and activities above demonstrate the public benefit arising through the Charity’s activities.

FINANCIAL REVIEW

The Statement of Financial Activities shows a net surplus of £72,914 (2021: £181,525) for the year, resulting in Reserves standing at £881,714 (2021: £808,800) at 31[st] December 2022.

The charity has four key income streams: (1) donations from meditation courses and buddhist teachings which received donations of £197,208 in 2022, (2) other donations, grants and membership fees which received donations of £156,468 in 2022, (3) lotus guesthouse income of £81,738 and (4) facility rentals which had income of £54,244 in 2022. In addition to this, other income received in 2022 was £10,552.

During 2022, a total of £69,042 was invested in additional assets for the improvement of the building and for new equipment and fixtures.

The financial position of the charity as at 31[st] December 2022 remained healthy.

4

JAMYANG BUDDHIST CENTRE

DIRECTORS’ AND TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

Reserves Policy

The Directors consider it prudent to maintain an adequate balance of unrestricted funds to cover the Charity’s contractual commitments. The Directors consider that the Charity’s reserves will enhance the services provided and provide financial security for the future.

The reserves policy of the charity is to endeavour to hold 6 months’ running costs in free unrestricted reserves. As at 31st December 2022, the unrestricted reserves, not designated and not held as fixed assets, were £299,672. This represents over 8 months running costs. The charity closely monitors the level of reserves and ensures that these are maintained by the use of good management and financial controls.

Investment Powers and Policy

Under the Memorandum and Articles of Association, the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that cash deposits meet their requirements to generate income.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Jamyang Buddhist Centre (the word ‘Limited’ being omitted by licence from the Board of Trade) is a Company Limited by guarantee and not having capital divided by shares. The charity was incorporated on 19th October 2004 and commenced activity on 1st January 2005. The company was registered as a charity on 16th November 2004 under Registration Number 1106802 and the company registration number is 05264030.

Recruitment and Appointment of Trustees

As set out in the Articles of Association the chair of the trustees is nominated by the other trustees. The Directors of the organisation are also the charity trustees for the purposes of charity law. The Board of Trustees have the power to appoint additional Trustees as it considers fit to do so.

The Trustees 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 power to appoint additional Directors.

Trustee Induction and Training

The Trustees maintain a good working knowledge of charity and company law and best practice by regular reading of charity press articles and scrutiny of Companies House, Charity Commission, other Government and voluntary organisation advisory websites. New Trustees are given 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 Safeguarding Practice Groups.

5

JAMYANG BUDDHIST CENTRE

DIRECTORS’ AND TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

Organisation

The trustees of the company meet quarterly as a Board, but have also set up a range of sub-groups, which meet with the Director between Board meetings. This includes Finance, Education and Safeguarding Committees. The Director carries responsibility for the executive management of the charity and for the linemanagement of the staff team, which during 2022 included a Resident teacher and six other staff, assisted by full and part-time volunteers.

Risk Management

The trustees have a risk management strategy which comprises:

Safeguarding

During the year, at the request of a third party, the trustees, Centre Director and Safeguarding Officer decided to revisit how the charity had responded to an alleged safeguarding incident involving an adult student around twenty years earlier. To achieve this in a manner that was as rigorous as possible, and which also protected the rights of all parties, independent charity 31:8 was commissioned to carry out a review of the investigation that took place at the time, and the trustees engaged the services of a lawyer who specialises in charities and data protection.

While safeguarding procedures in general and at Jamyang specifically have advanced considerably since then, the trustees were satisfied when the investigation by 31:8 concluded that ‘the process undertaken seems to have been thorough and fair to all involved.'

Jamyang continues to implement robust safeguarding policies which it reviews on a regular basis and has clearly defined safeguarding protocols to help identify, escalate and respond to any safeguarding concerns.

In addition, Jamyang now offers a quarterly safeguarding training course for all their teachers, staff, trustees and volunteers to ensure that safeguarding is well embedded in the organisation.

Related Parties

The charity has a close relationship with Courthouse Community Centre (previously Compassion in Action, London) a company incorporated in England, company number 3796662, which is closely connected by way of its directors / trustees.

Jamyang Buddhist Centre is affiliated with the Foundation for the Preservation of the Mahayana Tradition, Inc., a California non-profit religious corporation. The Affiliation Agreement came into effect on 5th July 2010.

6

JAMYANG BUDDHIST CENTRE

DIRECTORS’ AND TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS

Charity number : 1106802 Company number : 05264030 Registered office & operational address : The Old Courthouse, 43 Renfrew Road, London SE11 4NA Current Directors and Trustees: Alison Murdoch (Charity Chair) Appointed 14/03/2018 Robin Bath Appointed 19/10/2004 Erik Rinner Appointed 14/03/2018 Andras Kondor Appointed 10/03/2019 Jan Andresen Appointed 10/03/2019 Keval Shah Appointed 01/08/2020 Nikolaus Holzinger Appointed 30/01/2022 Pempa Samuels Appointed 30/01/2022 Management Team : Fabienne Pradelle - Executive Director, Kamlo Chen-Duffy - Spiritual Programme Coordinator Paul Wells - Operations Manager Bankers : CAF Bank Limited Independent Examiner : Lewes Accountancy and Tax Services.

7

JAMYANG BUDDHIST CENTRE

DIRECTORS’ AND TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

Trustees’ responsibilities in relation to the financial statement

The Trustees (who are also directors of Jamyang Buddhist Centre for the purposes of company law) 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 for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its income and expenditure for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

APPROVAL

This report was approved by the Board of Directors and Trustees on 25[th] July 2023 and signed on its behalf:

______ Alison Murdoch - Chair

8

INDEPENDENT EXAMINER’S REPORT TO

THE TRUSTEES OF JAMYANG BUDDHIST CENTRE

I report on the accounts of the company for the year ended 31[st] December 2022, which are set out on pages 10 to 21.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

The charity’s trustees consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is needed as the company’s gross income exceeded £25,000.

I am qualified to undertake the independent examination by being a qualified member of the Institute of Chartered Accountants of Ireland. It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records 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 explanations from the trustees concerning any such 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 whether the accounts present a ‘true and fair’ 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 respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

EAMON WALSH FCA, CTA CHARTERED ACCOUNTANT LEWES ACCOUNTANCY AND TAX SERVICES

82a James Carter Road, Mildenhall, Bury St. Edmunds, IP28 7DE

25[th] July 2023

9

JAMYANG BUDDHIST CENTRE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31[st] DECEMBER 2022

SUMMARY INCOME AND EXPENDITURE ACCOUNT

Notes
Income
Donations and legacies
2
Income from charitable activities
3
Income from trading activities
4
Investment Income
5
Total Income
Expenditure
Cost of raising funds
6
Expenditure on charitable activities
6
Total Expenditure
Net income/(expenditure) and
net movement in funds for the year
Reconciliation of funds
Total funds, brought forward
Total funds, carried forward		 Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
353,386
290
353,676
429,315
90,232
90,232
4,725
54,592
54,592
82,438
1,710
1,710
28
499,920
290
500,210
516,506
77,528
77,528
71,463
340,717
9,051
349,768
263,518
418,245
9,051
427,296
334,981
81,675
(8,761)
72,914
181,525
476,219
332,581
808,800
627,275
557,894
323,820
881,714
808,800

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

CONTINUING OPERATIONS

None of the company's activities were acquired or discontinued during the above financial periods.

TOTAL RECOGNISED GAINS AND LOSSES

The company has no recognised gains or losses other than the above movement in funds for the above two financial periods.

The notes on pages 12 to 21 form part of these accounts.

10

JAMYANG BUDDHIST CENTRE

BALANCE SHEET

AS AT 31[st] DECEMBER 2022

Notes
Fixed assets
Tangible assets
11
Current assets
Stock
12
Debtors
13
Cash at bank and in hand
Liabilities
Creditors falling due within one year
14
Net Current Assets
Net Assets
The funds of the charity
Unrestricted Funds:
General
17
Designated
17
Restricted Funds
17
Total charity funds		 2022
£
£
436,739
2,600
16,779
519,158
538,537
93,562
444,975
881,714
500,894
57,000
323,820
881,714		 2022
£
£
436,739
2,600
16,779
519,158
538,537
93,562
444,975
881,714
500,894
57,000
323,820
881,714		 2021
£
£
427,748
2,600
3,139
409,960
415,698
34,647
381,051
808,800
419,219
57,000
332,581
808,800		 2021
£
£
427,748
2,600
3,139
409,960
415,698
34,647
381,051
808,800
419,219
57,000
332,581
808,800
538,537
93,562		 415,698
34,647
881,714 808,800
500,894
57,000
323,820		 419,219
57,000
332,581
881,714 808,800

For the financial period ended 31[st] December 2022 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledged their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 of the Act and for preparing financial 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 loss for the financial period in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as is applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

These accounts were approved by the Board of Trustees on 25[th] July 2023 and were signed on its behalf by:

_______ Alison Murdoch – Chair

Company number 05264030

The notes on pages 12 to 21 form part of these accounts.

11

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31[st] DECEMBER 2022

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period and in the preceding year.

1.1 Basis of preparation of accounts

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2020) – Charity SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Jamyang Buddhist Centre meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

1.2 Income recognition

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

12

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

1.3 Volunteers and donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refers to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.4 Preparation of accounts on a going concern basis

The Charity’s Financial Statements show net surplus of £181,525 for the year and free reserves of £230,260. The trustees 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.

1.5 Expenditure recognition and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance and administration personnel, payroll and governance costs which support the Charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated is set out in note 7.

1.7 Funds structure

The general fund comprises those monies which may be used toward meeting the charitable objectives of the company at the discretion of the Management Board.

The designated funds are monies set aside out of general funds and designated for specific purposes by the Management Board.

The restricted funds are monies raised for, and their use restricted to, a specific purpose or donations subject to donor imposed conditions.

13

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31[st] DECEMBER 2022

1.8 Tangible Fixed Assets

Tangible fixed assets (excluding investments) are stated at cost less depreciation. The cost of minor additions or those costing less than £500 are not capitalised. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold land - not depreciated. Freehold buildings - 90 years. Fixtures, fittings & equipment - 4 years.

A part of the building owned and occupied by Jamyang Buddhist Centre is rented out to individuals. The Charity has decided not to recognise the rented portion of the building at market value, as required by SORP 2017 (FRS 102) as it considers it is impractical to obtain a market value for that part of the building.

1.9 Stock

Stock is shown at the lower of cost and net realisable value. Stock consists of shop stock.

1.10 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. 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 where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.13 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.14 Taxation

The Charity is a registered 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 Pension 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.

14

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

1.16 Judgement and key sources of estimation uncertainty

In the application of the company’s accounting policies, the charity is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

1.17 Cash flow statement

The charitable company qualifies as a small company and advantage has been taken of the exemption provided by SORP (FRS 102) as amended by Bulletin 1, not to prepare a cash flow statement.

2. GRANTS, DONATIONS AND LEGACIES

Legacies received
Grants received
Donations received
Donations in kind
Membership fees
Education donations: Basic Program
Education donations: Exploring Buddhism
Education donations: Discovering Buddhism
Education donations: Science and Wisdom
Education donations: Other Programmes		 Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
40,000
-
40,000
-
12,700
12,700
31,536
59,940
290
60,230
192,296
8,736
-
8,736
8736
34,802
-
34,802
33,950
76,008
-
76,008
79,070
37,611
-
37,611
17502
18,535
-
18,535
-
35,071
-
35,071
22,047
29,983
-
29,983
44,178
353,386
290
353,676
429,315

The donations and legacies in 2021, totalling £429,315, were attributed to £317,199 unrestricted funds and £112,116 restricted funds.

3. INCOME FROM CHARITABLE ACTIVITIES

Lotus guesthouse
Bookshop income
Cafe income		 Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
81,738
-
81,738
-
4,709
-
4,709
691
3,785
-
3,785
4,034
90,232
-
90,232
4,725

The income from charitable activities in 2021, totalling £4,725, was attributed to unrestricted funds.

15

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

4. INCOME FROM OTHER TRADING ACTIVITIES

Rental income
Other miscellaneous income		 Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
54,244
-
54,244
58,338
348
-
348
24,100
54,592
-
54,592
82,438

The income from other trading activities in 2021, totalling £82,438, was attributed to unrestricted funds.

5. INVESTMENT INCOME

.
INVESTMENT INCOME
Interest on cash deposits Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
£
£
£
£
1,710
-
1,710
28
1,710
-
1,710
28

The investment income in 2021 totalling £28 was attributed to unrestricted funds.

6. ANALYSIS OF EXPENDITURE

Staff salaries and other
staff related costs
Premises & Holy
objects & donations
Direct costs incurred
Other costs incurred
Support Costs
(Note 7)
Governance Costs
(Note 7)		 Raising Fund Charitable Activities
27,358
50,170
123,791
155,882
61,044
9,051
427,296
334,981

Of the £427,296 expenditure in 2022 (2021: £334,981), £418,245 was charged to unrestricted funds (2021: £308,340) and £9,051 to restricted funds (2021: £26,641).

16

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

7. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS

The Charity initially identifies the costs of its 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 activities undertaken (see note 6) 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.

Staff salaries and other staff related costs
Premises costs
Communication and printing
Insurance
Legal & professional fees
Bank and credit card charges
IT and miscellaneous expenses
Depreciation
Independent examination		 General
Support
Governance
Function
Total
2022
Total
2021
£
£
£
£
47,075
8,307
55,382
24,984
27,012
-
27,012
3,062
7,465
-
7,465
5,642
-
331
331
6,103
8,008
-
8,008
1,840
5,070
-
5,070
5,113
4,825
-
4,825
20,044
60,051
-
60,051
42,938
-
2,600
2,600
2,600
159,506
11,238
170,744
112,326

8. NET INCOME / (EXPENDITURE) FOR THE YEAR

Net movement in funds is stated after charging:

Total Total
2022 2021
£ £
Depreciation of tangible fixed assets 60,051 42,938
Independent Examination 2,600 2,600

9. ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL

Wages and salaries
Social security costs
Pension costs		 Total
2022
Total
2021
£
£
172,939
140,819
8,117
9,780
2,677
2,381
183,733
152,980

No employee received remuneration in excess of £60,000 during the year.

None of the Trustees received any remuneration during the year (2021: £nil) and no expenses were reimbursed (2021: £nil).

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 £57,843 (2021: £56,591).

17

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

10. STAFF NUMBERS

The average monthly number of staff employed by the charity during the year was as follows:

0.
STAFF NUMBERS
he average monthly number of staff employed by the charity during the year		 was as follows:
Director
Main Education Program
Administration and support		 2022
2021
Numbers
Numbers
1.0
1.0
2.0
2.0
5.0
5.5
8.0
8.5

The average monthly number of persons employed by the charity during the year was 8.0 (2021: 8.5).

11. TANGIBLE FIXED ASSETS

Net Book Value
Freehold land
Freehold property
Fixtures, Fittings & Equipment
Movements in the year
Cost:
Freehold land
Freehold property
Fixtures, Fittings & Equipment
Depreciation:
Freehold land
Freehold property
Fixtures, Fittings & Equipment		 Opening
Balances
Additions
£
£
58,000
-
347,985
-
201,274
69,042		 Total
2022
Total
2021
£
£
58,000
58,000
285,395
289,261
93,344
80,487
436,739
427,748
Disposals
Closing
Balance
£
£
-
58,000
-
347,985
-
270,316
607,259
69,042		 -
676,301
Opening
Balances
Charge
For Year
£
£
-
-
58,724
3,867
120,787
56,184		 Disposals
Closing
Balance
£
£
-
-
-
62,591
-
176,971
179,511
60,051		 -
239,562

12. STOCK

Goods for Sale

Total Total
2022 2021
£ £
2,600 2,600
2,600 2,600

18

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

13. DEBTORS

Trade debtors
Gift Aid recoverable
14.
CREDITORS: amounts falling due within one year
Trade creditors
Taxation and social security
Deferred income (see note 15)
Other creditors
Accruals
15.
DEFERRED INCOME
Balance as at 1st January 2022
Amount released to income in the year
Amount deferred in the year
Balance as at 31st December 2022		 Total
2022
Total
2021
£
£
(980)
(1,361)
17,759
4,500
16,779
3,139
Total
2022
Total
2021
£
£
7,756
6,504
1,202
3,383
80,805
20,960
1,200
1,200
2,600
2,600
93,562
34,647
Total
2022
Total
2021
£
£
20,960
27,503
(18,456)
(24,088)
78,301
17,545
80,805
20,960

The deferred income released in 2022 refers to Basic Program fees received in advance for the following year.

16. PENSION COSTS

The pension cost charge represents contributions payable by the Charity to the fund and amounted to £2,677 (2021: £2,381).

Contributions totalling £nil (2021: £nil) were payable to the fund at the year end and are included in creditors.

19

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

17. MOVEMENT IN FUNDS

7.
MOVEMENT IN FUNDS
Balance at Balance at
01-01-2022 Income Expenditure 31-12-2022
£ £ £ £
Restricted Funds: Capital Funds with balances carried forward as un-depreciated costs
Building Appeal 105,957 - 1,452 104,505
New Roof 124,248 - 1,702 122,546
Heating System 8,584 - 118 8,466
238,789 - 3,272 235,517
Restricted Funds: Other Restricted Funds
Lineage Project 13,792 290 5,779 8,303
Welcome Project (Roger Searle Legacy) 80,000 - - 80,000
93,792 290 5,779 88,303
Unrestricted Funds
Lama Zopa Rinpoche Designated Fund 57,000 - - 57,000
General Funds 419,219 499,920 418,245 500,894
476,219 499,920 418,245 557,894
Total Funds 808,800 500,210 427,296 881,714

Description, nature and purpose of funds:

Restricted Funds: Capital Funds with balances carried forward as un-depreciated costs.

Restricted Funds: Other Restricted Funds.

Lineage Project - Fund restricted for holy objects for the main shrine room. Welcome Project - Fund restricted for using Legacy from Roger Searle for the Garden Room (Roger Searle Legacy) (part of the Welcome Project).

Designated funds: Lama Zopa Rinpoche Designated Fund: Represents amounts that the Trustees have decided to designate for the purpose of providing financial support for future years.

General funds: General funds represent funds available to spend at the discretion of the Trustees after allowing for all the designated funds.

20

JAMYANG BUDDHIST CENTRE

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 31[st] DECEMBER 2022

18. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS

Unrestricted Designated Restricted Total Total
Funds Funds Funds 2022 2021
£ £ £ £ £
Tangible fixed assets 201,222 - 235,517 436,739 427,748
Net current Assets 299,672 57,000 88,303 444,975 381,052
500,894 57,000 323,820 881,714 808,800

Tangible fixed assets included in Restricted Funds is comprised of the net book value of the following assets:

Freehold land
Freehold property		 Total
2022
Total
2021
£
£
58,000
58,000
177,517
180,789
235,517
238,789

19. RELATED PARTY TRANSACTIONS

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 / Trustees:

Key Management Personnel and Trustees

A member of the key management personnel paid the Charity rental of £4,725 (2021: £6,000).

Trustees donations to the charity for the year totalled £5,932 (2021: £5,856).

21