REGISTERED COMPANY NUMBER: 05834539 (England and Wales) REGISTERED CHARITY NUMBER: 1114960 Trustees, Re ort and Unaudited Financial Statements for the Year Ended 31 March 2024 for The Oxford Centre for Buddhist Studies Chapman Robinson and Moore Limited 30 Bankside Court Stationfield5 Kidlington Oxford OX5 IJE
The Oxford Centre for Buddhist Studie5 Contents of the Financial Statements for the Year Ended 31 March 2024 Page Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 17 Detailed Statement of Financial Activitie5 18 to 19
The Oxford Centre for Buddhist Studies Re istered number: 05834539 Trustees, Re ort for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Ststement 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 l January 2019). Page I
The Oxford Centre for Buddhist Studies istered number: 05834539 Trustee5' Re ort for the Year Ended 31 March 2024 OBJECTIVES ANO ACTIVITIES Objertives and aims The purpose of the charity as set out in its governing document: The object of the Charity is to advance the education of the public by holding and administering funds for permanent and temporary teaching posts, and temporary research posts, in Buddhist Studies at Oxford University: by the administration of teaching and research activities in Buddhist Studies undertaken at Oxford University. and by agreeing arrangements for collaboration in respect of Buddhist Studies teachlng and research with the University of Oxford (and Colleges. Faculties and Departments within it), and with other organisatsons involved in generating and diffusing academically sound information about the Buddhist tradition. The main activltles undertaken in relation to those purposes during the year: The Centre continues with its Access Initiatives, and has started an innovative Pali Translation Project. The Pali online courses programme provides a full learning pathway for potential students. It starts with a comprehensive introduttion, which leaves students able to translate Pali texts themselves, with the help of study aids such as dictionarie5. Levels 2 -3 build on this proficiency and Level 4 offers the chance to work in a more advanced way with Pali texts and verse. The courses continue to prove popular and garner good reviews. In this way. the Centre continues to provide a coherent leaming pathway for those interested in Pali to progress from very little knowledge to an advanced level. This pathway Is open to anyone who is interested and has the time to follow their studies. It is built on the signature introductory course developed and taught by Professor Gombrich over a decade ago, which has been acclaimed for its ease of use. The Pali Hub goes from strength to strength. This project is building a comprehensive bibliography of all scholarship related to Pall and Early Buddhism available on the web. It now stands at over 15,000 records and plans are in place for further development. Professor Gombrich gives personal individual Pali teaching to interested students. The Centre continues to publish its Journal annually, with a strong commitment towards intelligibllity whilst preserving academic rigour. The Journal continues to have subscriptions from universities and institutions around the world. This year the cent secured substantial funding to launch the first phase of its Pali Translation Project. This project aims to provide English translations for all previously untranslated versions of the Pali canon and its commentaries, with the results being hosted on Sutta Central. Work started on translation of the Sumangalavilasini and Is due to be completed in Autumn 2025. Dr. Alex Wynne gave a lecture series in the Autumn of 2024. entitled "Suicide, Meditation and Anti-realism: Three Problems in the Study of Early Buddhism" These were held in conjunction with a fellow academic establishment, with which the Centre holds an Mou. The lertures were well attended and very well received. They are now avai13ble on YouTube and are free to watch. Page 2
The Oxford Centre for Buddhist Studie5 Re istered number: 05834539 Trustees, Re ort for the Year Ended 31 March 2024 The trustees confirm that they have had regard to public benefit guidance issued by the Charity Commission. The main artivitles undertaken during the year to further the charlty's purpose for the publlc benefit: As the world continues to fsnd online resources increasingly important, the Centre is strategically placed to provide an important contribution to Buddhist Studies. We have developed, and continue to improve, an internet platform that includes teaching, research aids, and lectures, that helps people deepen their studies. The Centre also continues its readiness to support Buddhist Studies at the University of Oxford. The short term and longer term aims and objectives: The long term aims of the charity are to estsblish the Centre in Buddhist Studies permanently. Teaching courses ensure the development of Pali scholarship in the West after a period of decline. The framework for study provided by the Centre provides interested parties with many resources to explore Buddhism. The Pali Translation Project add5 an important new part to these resources, providing high quality translations of Pali texts previously unavailable in English. In the short term. the continued success of the online on4emand courses generated a small income for the Centre. New courses with an even wider appeal- such as courses on the Buddha, and early Buddhism are being developed, and have attracted support from interested parties. The charity's Strategles for achleving its aims and objertlves in the future: The charity continues developing relationships with several academic bodies to ensure that its plans can be brought to fruition, including continuing an important collaboration agreement. By careful planning, it is also seeking financial support from interested parties so that the projects can be fully realised. The online on demand courses have raised the profile of the Centre, and the translation project is set to do so further. How the activitles undertaken during the year contributed to the achievement of the aims and objectlves: The continuation of the onllne on-demand courses is proving a very effective way to fulfil the Centre's aim of disseminating Buddhist scholarship to as large an audience as possible. The Pali Hub and Translation Project build on this, creating a growing community of people actively engaged in Pali studies. Resources used in the artivities undertaken during the year: The Centre has made extensive use of technology within the last year, exploring the simplest and most satisfactory ways to deliver teaching online. It has had great success with this, gaining praise for the setup of its resources. It continues to explore ways to ensure tts outputs reach the widest possible audience. Page 3
The Oxford Centre for Buddhist Studies istered number: 05834539 Tru5tees' Re ort for the Year Ended 31 March 2024 The Centre has used a large part of Its resources to employ two members of paid part-time staff: an Operations and Development Manager and a Financial Administrator . Soclal investment pollcles and how these contrlbuted to the athievement of tharity's alms and oblectives durlng the year: The Centre has provided reductions in its course fees to students with reduced financial means who have shown an aptitude forthe work. Lectures are provided free of charge on its website, and volumes of its Journal become open access after one year. The Pali Hub and Translation Project provide online resources in Early Buddhist scholarship which are completely open access. The contributlon of volunteers during the year: The Centre's online ventures have been supported by voluntary input from both technical and teaching staff. Grant making pollcies and how these contrlbuted to the charity during the year: There were no grants awarded this year. The main achievements and performance of the charity during the year: The Centre has held a schedule of online activities this year, furthering its goals in education, stimulating Pali Studies, and disseminating the fruits of scholarship to a wider public, as well as launching a new initiative in Pali translation. It has kept good financial reserves, is involved in detailed negotiations on future projects, and hopes to build a strong position for the future. Fundralsing activities durlng the year: The Centre, havlnB secured funding for the first stage of its Pali Translation Project, is involved with discussions on the next stage, to Possibly include Al support of the project. It has also been involved in developing a collaboration to help it deliver future courses and other activities. The difference the charity's performance during the year ha5 made to the beneficiaries of the charity: Thanks to the Centre's operation, students and members of the public have gained access to educational activities that would not otherwise be available. The Centre's activlties are giving students both within Oxford University and abroad the chance to deepen their knowledge and pursue their academic interests. Through the Journal, lecture series, teaching, transSation and other activities, the Centre has contributed and supported advancement in the academic discussion of Buddhism in the modern world. Page 4
The Oxford Centre for Buddhist Studies istered number: 05834539 Trustees, Re ort for the Year Ended 31 March 2024 FINANCIAL REVIEW Financial positlon The charity achieved a surplus for the year of £19,934 (2023 deficit £40,802) on its unrestricted fund income and £128,614 {2023 deficit £4,074) on its restricted funding incorne. At the end of the year, the charity had cash and bank reserves of £184,296 {2023 £36,984). Of this £139,392 were on restricted funds {2023 £10,778). The trustees are confident of the abillty of the charity to continue as a going concern in the foreseeable future. The trustees have a Reserve Policy of maintaining 50% of the annual expenditure as a reserve. STRucfuRE, GOVERNANCE AND MANAGEMENT Govemlng document The charity is controlled by tts governing documents, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Its office in Oxford has shut and its registered address is as recorded below. The procedures for the selection of trustees are set out in the goveming document. All committee members are trustees and are elected at the Annual General Meeting. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05834539 (England and Wales) Registered Charity number 1114960 Registered office John Eccles House Robert Robinson Avenue Oxford Science Park Oxford Oxfordshire OX4 4GP Trustees Mrs J R Block Retired corporate executive, CLO (resigned 30/1112023) Venerable Dr K Dhammasami Buddhist Monk Professor D N Gellner University Professor Professor R F Gombrich Retired Professor Professor R B Kapadia Educational Consultant, Treasurer Dr A J L Morris Book Publisher Mr C Shaw Retired University Administrator Dr R Farmer Psychiatrist Drj B Katz Semi-retired UniversityTeacher Dr J O Meiland Barrister & former University Teacher Page 5
The Oxford Centre for Buddhist Studie5 i5tered number: 05834 39 Trustees, Re ort for the Year Ended 31 March 2024 REFERENCE AND ADMINISTrATIVE DEfAILS Company Secretaries Mrs S Gianni S Egan Independent Examiner Alan P. Sowden FCCA, cfA Chapman Robinson and Moore Limited 30 Bankside Court Stationfields Kidlington Oxford OX5 IJE
Ld Oda4f, Approved by order of the board of trustees on ................... .. . and signed on its behalf by: Mr C Shaw- Trustee Page 6
Inde endent Examiner's Re ort to the Trustees of The Oxford Centre for Buddhist Studies Independent examiner's report to the trustees of The Oxford Centre for Buddhist Studles ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responslbilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the reqU1MentS of the Companies Act 2006 {'the 2006 Att'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities {applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concern5 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. Alan P. Sowden FCCA, CTA Chapman Robin50n and Moore Limited 30 Bankside Court Stationfields Kidlington Oxford OX5 IJE Date: .................. Page 7
The Oxford Centre for Buddhist Studies Statement of Financial Attivities for the Year Ended 31 March 2024 3113124 Total funds 3113/23 Total fund5 Unrestricted Restricted fund fvnd Notes INCOME AND ENDOWMENTS FROM Donations and legacies 13.066 134,710 147,776 15,088 Charitable activities Charitable activities Pali Online Courses 47.244 9,907 48,085 9,907 17,648 Investment income 139 139 46 Total 70,356 135.551 205,907 32,782 EXPENDMJRE ON Raising funds 475 475 5,074 Charltsble actlvities Charitable activities Pali Online Courses 40,699 6,963 6,841 96 47,540 7,059 70,695 Other 2,285 2.285 1,889 Total 50,422 6,937 57,359 77,658 NET INCOME/(EXPENDITURE) 19.934 128.614 148,548 (44,876} RECONCILIATION OF FUNDS Total funds brought forward 25,321 10.778 36,099 80,975 TOTAL FUNDS CARRIED FORWARD 45.255 139,392 184,647 36,099 The notes form part of these financial statements Page 8
The Oxford Centre for Buddhist Studies Balance Sheet 31 March 2024 31/3124 Total funds 3113/23 Total funds Unrestricted Restricted fund fund Notes FIXED ASSETS Tangible assets 232 232 309 CURRENT ASSETS Debtors Cash at bank 3,270 44,904 3,270 184,296 5,202 36,984 139,392 48,174 139.392 187,566 42,186 CREDITORS Amounts falling due within one year io (3.151) 13,151) (6,396) NEf CURRENT ASSETS 45,023 139,392 184,415 35,790 TOTAL ASSETS LESS CURRENT UABILMES 45,255 139,392 184,647 36,099 NET ASSETS 45,255 139.392 184,647 36,099 FUNDS Unrestricted funds Restricted funds li 45,255 139,392 25,321 10,778 TOTAL FUNDS 184,647 36,099 The charitable company is entitled to exemption from audit under Section 477 of the Companie5 Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of tts financial statements for the year ended 31 March 2024 in accordance with Sertion 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance wlth the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Art 2006 relating to financial statements, so far as applicable to the charitable company. {b) The notes form part of these financial statements Page 9 continued.-.
The Oxford Centre for Buddhist Studie5 Balance Sheet- continued 31 March 2024 These financlal statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on
.tyJ....P.Lfr• Wfrand were signed on its behalf by: Mr C Shaw- Trustee The notes form part of these financial statements Page 10
The Oxford Centre for Buddhist Studies Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable cornpany, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102} '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 1021 (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard appllcable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. as modified by the revaluation of certain asset5. Income All income is recognised in the Staternent of Financial Activities once the charity has entitlement to the fund5, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery Computer equipment 25% on reducing balance 20% on reducing balance Taxation The charity is exempt from corporation tsx on Fts charitable activrties. Fund accounting Unrestricted fund5 can be used in accordance with the charitable objectives at the discretion of the trustees. Restritted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Restricted fund5 are made up of money used for Pali teaching - Diri Def, Student awards and Research into Buddhism. Penslon costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activitie5 in the period to which they relate. Page 11 continued...
The Oxford Centre for Buddhist Studies Notes to the Financial Statements- continued for the Year Ended 31 March 2024 INVESTMENT INCOME 31/3124 31/3123 Bank interest recelvable 139 46 RAISING FUNDS Raising donations and legacies 31/3124 31/3/23 Raising funds 475 5,074 NET INCOME/{EXPENDrruRE) Net income/(expenditure) is stated after charging/(crediting)." 31/3124 31/3/23 Depreciation - owned assets 77 226 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses In 2024 trustees were reimbursed a total of £187 for expenses incurred performing dutie5 for the charity. {2023 - £NIL) STAFF COSTS The average monthly number of employees during the year was as follows: 31/3124 Administration 31/3123 No employees received emoluments in excess of £60,(NX). Page 12 continued...
The Oxford Centre for Buddhist Studies Notes to the Financial Statements- continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcnvmES Unrestricted Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 7,938 7,150 15.088 Charitable activities Charitable activities 17,648 17,648 Investment income 46 46 Total 25.632 7,150 32,782 EXPENDITURE ON Raising funds 5.074 5,074 Charitsble activities Charitable activities 59.471 11,224 70,695 Other 1,889 Total 66.434 11,224 77,658 NET INCOME/(EXPENDITURE) (40,802) {4.074) (44,876) RECONCILIATION OF FUNDS Total funds brought forward 66,123 14,852 80,975 TOTAL FUND5 CARRIED FORWARD 25,321 10,778 36,099 Page 13 continued.
The Oxford Centre for Buddhist Studies Notes to the Financial Statements- continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Plant and machinery Computer equipment Totals COST At l April 2023 and 31 March 2024 3,456 596 4,052 DEPRECIATION At l April 2023 Charge for year 3.310 36 433 41 3,743 77 At 31 March 2024 3,346 474 3,820 NEf BOOK VALUE At 31 March 2024 iio 122 232 At 31 March 2023 146 163 309 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113/24 31/3/23 Other debtors Prepayments 2,475 795 2,475 2,727 3,270 5,202 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113124 3113123 Trade creditors Social security and othertaxes Deferred income Accrued expenses 362 100 4,892 2,789 3.151 6,396 Page 14 continued...
The Oxford Centre for Buddhist Studies Notes to the Financial Statements- continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS Net movement in funds At 31/3124 At V4123 Unrestricted funds General fund 25,321 19,934 45,255 Restricted funds General Fund 10,778 128,614 139,392 TOTAL FUNDS 36,099 148,548 184,647 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 70,356 (50,422) 19,934 Restrlcted funds General Fund 135.551 (6,937} 128,614 TOTAL FUNDS 205.907 (57,359) 148,548 Comparatives for movement In funds Net rnovement in funds At 31/3/23 At V4/22 Unrestrirted funds General fund 66.123 (40,802) 25.321 Restrlcted funds General Fund 14,852 (4.074) 10,778 TOTAL FUNDS 80,975 (44,876) 36,099 Page 15 continued...
The Oxford Centre for Buddhist Studies Notes to the Financial Statements- continued for the Year Ended 31 March 2024 ii. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are a5 follows: Incoming resources Resources expended Movement in funds Unrestrirted funds General fund 25,632 (66,434) (40,802) Restrlcted funds General Fund 7,150 (11,224) (4,074) TOTAL FUNDS 32,782 {77,658) (44,876) A current year 12 months and prior year 12 months combined position is a5 follows: Net movement in funds At 31/3124 At 1/4122 Unrestrlrted funds General fund 66,123 (20,868} 45,255 Restrirted fund5 General Fund 14.852 124,540 139,392 TOTAL FUNDS 80,975 103,672 184,647 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrirted funds General fund 95.988 (116,856} (20,868) Restrlcted funds General Fund 142,701 (18,161) 124.540 TOTAL FUNDS 238,689 (135,017) 103,672 Details of restricted funds in the year are as follows: Page 16 continued...
The Oxford Centre for Buddhist Studies Notes to the Financial Statements- continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS- continued Openlng OV0412023 £0 £7.736 £79 Closing 3110312024 £0 £7,640 £579 Income £6,000 £0 £500 Expense £6,000 £96 £0 Pali Teaching- DIRI DEF Pali Hub-GrecolBhanubandh Pali Canon Access Project Chinese Contemporary Buddhism Sanjukta's Fund STrWise Project PTP Project £1,663 £1,300 £0 £0 £0 £0 £841 £128.210 £0 £0 £841 £0 £1,663 £1,300 £0 £128,210 Total restricted funds £10,778 £135,551 £6,937 £139,392 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 17
The Oxford Centre for Buddhist Studies Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31/3124 31/3/23 INCOME AND ENDOWMENTS Donations and legacles PTP project Donations Gift aid Dirert debit donations Online donations Pali teaching DIRI DEF Pali Canon Access Project 128,210 12,016 iio 540 400 6.000 500 4,342 126 990 2,480 6,000 1,150 147,776 15,088 Investment Income Bank interest receivable 139 46 Charitable activities Journal subscriptions Pali advanced reading course Pali online courses PTP project So-wide project 1.092 1,000 2,772 13,876 8,815 47.244 57.992 17,648 Total Incomlng resources 205,907 32.782 EXPENDITURE Charitable artlvities Research into Buddhi5m- Sanjukta Journal costs Pali reading club Pali advanced reading courses Royalties Pali on-line courses So-wide project 2.037 6,582 551 1,000 7,516 2,107 3.208 541 2,740 3,872 841 11,202 19,793 Other Independent Examiner's fees Carried forward 1,950 1,950 1,830 1,830 This page does not form part of the statutory financial statements Page 18
The Oxford Centre for Buddhist Studies Detailed Statement of Financial Activities for the Year Ended 31 March 2024 3113124 3113/23 Other Brought forward Governance Trustee expenses Charitable donations Recruitment fees 1,950 26 187 50 72 1,830 59 2.285 1,889 Ralsingfunds Management Insurance 306 348 Finance Bank and Paypal charges 419 602 Human resource5 Wages Pensions 34,864 1,078 36,553 999 35,942 37,552 Other Staff gifts Rent Postage Stationery and printing IT expenses Depreciation & Amortisation Sundries 250 4,550 15.086 462 1,866 77 105 1,807 227 248 7,205 17,474 Total resource5 expended 57,359 77,658 Net income/(expenditure) 148,548 (44,876) This page does not form part of the statutory financial statements Page 19