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2020-12-31-accounts

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Triratna Chairs Assembly
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(A company limited by guarantee)

Trustees’ annual report and financial statements for the period 1[st] January 2020 to 31[st] December 2020

Contents:

Legal and Administrative Information:

Charity Name: Triratna Chairs Assembly Charity Registration Number: 1117287 Company Registration Number: 05950533 Registered Office and Adhisthana, Coddington Court, Operational Address: Coddington, Ledbury, Herefordshire HR8 1JL

Trustees in the year ending 31[st] December 2020:

Jonathan Heddle (resigned 22 July 2020)

A Bishop (resigned 16 October 2019) Kelvin Youngs (appointed 11 January 2018) W Young (appointed 9 January 2019)

S Turner (appointed 9 January 2019) Prasadacarin Busk (appointed 10 January 2020)

Secretary : Mr Ajay Gilbert

Triratna Chairs Assembly. Charity number: 1117287. Company number: 05950533

Bankers:

Cooperative Bank, Head Office, PO Box 101, 1 Balloon Street, Manchester, M60 4EP.

Trustees Report for the year ended 31[st] December 2020

The trustees present their report and financial statements for the year ended 31st December 2020.

Objectives and Activities

The company’s objects and principal activities are:

Activities for Achieving Objectives

During the year this work was furthered through the following activities:

Triratna Chairs Assembly. Charity number: 1117287. Company number: 05950533

Grant making Policies

The income of the Triratna Chairs Assembly is made up of contributions from member Triratna Buddhist Centres and Charities. Every year applications for grants are invited from projects and organisations within the Triratna Buddhist Community whose aims and objectives are similar to those of the Triratna Chairs Assembly and whose activities and initiatives will serve the strategy and priorities set by the Assembly every 4 or 5 years.

Applicants usually have a long-standing relationship with the Chairs Assembly and a proven record of delivering projects. Applications are considered by the trustees and a recommendation for grants and an annual budget (for the following calendar year) is discussed and decided at a business session of members at a mid-year meeting. Reports from the projects receiving grants are considered at one of the biannual meetings of the assembly.

Achievement and performance

Review of Activities

The charity’s income comes mainly from donations from local Triratna Buddhist Centres. We’ve continued to put effort into maximising this income, including giving Centres good information about our work and providing training and resources to help Centres to maximise their own fundraising and financial effectiveness.

Our budget for expenditure for the year is based on 'pledges' that local Triratna Buddhist Centres have made to the charity. The pledges are made on trust and on the understanding that they are a financial commitment to be kept, except in an absolute emergency. The system works well and means the charity is reasonably certain of its income each year. However, we do have a reserves policy (see below) to cover unexpected shortfall.

Public benefit

The Triratna Chairs Assembly provides resources, training and guidance to a network of Triratna Buddhist Centres and groups in the UK and beyond who work with the general public, promoting health and well-being through courses and events in meditation, yoga and Buddhism.

Future Developments

Triratna Chairs Assembly. Charity number: 1117287. Company number: 05950533

The Charity and company will continue with the work and activities that fulfil its objectives and principle activities stated above.

A range of advice, guidance and resources for Triratna public Buddhist Centres and groups, and for Triratna Charity Trustees, will be reviewed, developed and updated as required. This will include statutory and financial guidance, best practice, and how to best provide instruction in, and events covering, meditation and Buddhism. These resources will be made available to Triratna Centres through a designated page at thebuddhistcentre.com.

The Development Team will continue to run two training weekends a year (or online while Covid restrictions continue) for new and smaller Triratna Buddhist Groups, working directly with the general public, along with specific online and printed guidance for these groups. Buddhist Action Month, an initiative promoting activities engaging directly with social issues will continue to be resourced.

The Chairs Assembly’s safeguarding officer will continue to develop and make available model policies and best practice guidance on safeguarding children and vulnerable adults, for Triratna Buddhist Centres and groups, along with organising further Safeguarding training events as needed. Ethical guidelines for those teaching and in positions of responsibility at Triratna Centres will continue to be developed. The safeguarding team will continue to be a source of advice in specific safeguarding cases.

Having reviewed the strategic priorities in January 2020, as well as confirming the Charity's commitment to fostering young people and safeguarding, the area of Diversity (both gender and racial/ethnic) was given prominence with the likelihood of investing in an (initially) temporary role as Racial Diversity Coordinator. Also fostering awareness and activities in response to social and ecological issues was emphasised with various possibilities considered.

Financial Review

Financial Overview

Due to the activities undertaken in the period, this year saw a net profit of £39,833 being generated. At the end of the year, unrestricted reserves were £48,352 and restricted reserves were £21,504. Much of the year was affected by Covid restrictions, with the net result being a surplus due to savings in expenses and personnel.

Going Concern

Despite Covid, most of the Centres that give donations for our work have been able to maintain their contribution, thus the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, especially in the light of increased reserves. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Investment Policy

Triratna Chairs Assembly. Charity number: 1117287. Company number: 05950533

Aside from retaining a prudent amount in reserves each year, most of the charity’s funds are to be spent in the short term so there are few funds for long-term investment. However, the charity does have its reserves in a 12 month investment account.

Reserves Policy

The trustees have examined the charity’s requirements for reserves in the light of the major risks to the organisation. Its policy is that the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be no less than 3 months of the annual expenditure. This would give some leeway and response time should one or more donors not meet a financial commitment they had made.

Structure, Governance and Management

Governing Document

The organization is a charitable company limited by guarantee, incorporated on 29[th] September 2006 and registered as a charity on 18[th] December 2006. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Organisational Structure

Triratna Chairs Assembly has a trustee body of between three and nine members who meet quarterly and are responsible for the strategic direction and policy of the charity. During 2020 we had a total of 7 trustees who were members from a variety of Triratna Buddhist Centres across Europe large and small. Some members of the Triratna Development Team (see below) attend trustee meetings, including the secretary, but have no voting rights.

During 2020 the charity employed five individuals (collectively known as the Triratna Development Team) to provide various services and advice to Buddhist charities and to assist in the running of the charity (e.g. statutory advice, safeguarding, development of useful resources, liaison with other Buddhist groups and Buddhist umbrella bodies). They are managed by the trustees, and decisions about the services to be provided are taken in consultation with the membership.

Recruitment and Appointment of Trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as 'the trustees'. Under the requirements of the Memorandum and Articles of Association one third (or the number nearest one third) of the Trustees must retire at each AGM, those longest in office retiring first and the choice between any of equal service being made by drawing lots. A Trustee retiring under this Article may stand for re-election.

Currently, chairpersons or representatives of recognised Triratna Buddhist Community Buddhist Centres are invited to become members of the Triratna Chairs Assembly. Members meet twice per year (for 7-9 days) and during one of these meetings elect the trustees. All the trustees are elected from the membership of the Triratna Chairs Assembly.

Triratna Chairs Assembly. Charity number: 1117287. Company number: 05950533

Drawing the trustees from this body helps ensure that trustees will have the necessary skills and perspective to guide and oversee Triratna Chairs Assembly. They will already have some experience of trusteeship of Buddhist charities. The charity also tries, where practically possible, to have at least one trustee from a non-UK charity, to provide a non-UK perspective.

Trustee Induction and Training

As indicated above, trustees are drawn from the membership of the charity and will therefore already be familiar with its work, and they will also have a background in the governance of a local Buddhist charity. In addition, there are resources made available to them (such as a Trustees Handbook) prepared by the Development Team, which also contains contact information on further guidance (e.g. from the Charity Commission).

Responsibility of the Trustees

Company law requires the trustees to prepare financial statements each year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice and:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Trustee Body

The trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report, are set out on page 1.

Risk Management

The trustees conduct a review of the major risks to which the charity is exposed. A risk register has been established and is updated as required. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. The possibility of external risks to funding has led to the development of a strategic plan, which will allow for the diversification of funding, as well as a policy on reserves. Internal control risks are minimized by the implementation of procedures for authorization of financial transactions for amounts over defined thresholds.

Triratna Chairs Assembly. Charity number: 1117287. Company number: 05950533

Declarations

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006

The trustees declare that they have approved the trustees’ report above

Signed on behalf of the charity’s trustees/directors

Signature
Full name(s) Mr Kelvin Youngs Mr Ajay Gilbert
Position Chair of Trustees Secretary
Date 3rd August 2021 3rd August 2021

Triratna Chairs Assembly. Charity number: 1117287. Company number: 05950533

Triratna Chairs Assembly Triratna Chairs Assembly CharityNo 1117287 1117287
CompanyNo 5950533
Annualaccountsforthe period
Period start date 01/01/2020 To Period end
date		 31/12/2020

Section A Statement of financial activities (including summary income and expenditure account)

Guidance Note
S01
S02
S03
S04
S05
S06
S07
Expenditure (Notes 6)
Expenditure on:
S08
S09
S10
S11
S12
S13
Tax payable
S14
S15
Net gains/(losses) on
investments
S16
S17
Extraordinary items
S18
S19
S20
Other gains/(losses)
S21
S22
Reconciliation of
funds:
S23
S24
Total funds brought forward
Net movement in funds
Other recognised gains/(losses):
Net income/(expenditure) before tax for
the reporting period
Total
Recommended categories by activity
Total funds carried forward
Total
Net income/(expenditure) after tax
before investment gains/(losses)
Net income/(expenditure)
Transfers between funds
Gains and losses on revaluation of fixed assets for the
charity’s own use
Charitable activities
Separate material expense item
Donations and legacies
Charitable activities
Raising funds
Separate material item of income
Other
Other
Income (Note 3)
Income and endowments from:
Investments
Other trading activities		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
£
£
£
F01
F02
F03		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
£
£
£
F01
F02
F03		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
£
£
£
F01
F02
F03		 Total funds
Prior year
funds
£
£
F04
F05		 Total funds
Prior year
funds
£
£
F04
F05
137,798 7,904 - 145,702 128,281
1,526 - - 1,526 4,905
- - - - -
60 - - 60 303
- - - - -
- - - - -
139,383 7,904 - 147,287 133,489
6,822 - - 6,822 7,399
89,853 9,997 - 99,850 125,038
783 - - 783 2,085
97,457 9,997 - 107,455 134,522
41,926 2,093
-		 - 39,833 1,033
-
- - - - -
41,926 2,093
-		 - 39,833 1,033
-
- - - - -
41,926 2,093
-		 - 39,833 1,033
-
- - - -
- - - - -
- - - - -
- - - - -
41,926 2,093
-		 - 39,833 1,033
-
6,425 23,597 - 30,023 31,056
48,352 21,504 - 69,856 30,023

Charity Name

Charity No Company No

Section B Balance sheet

Guidance Note
Fixed assets
Intangible assets (Note 15)
B01
Tangible assets (Note 14)
B02
Heritage assets (Note 16)
B03
Investments (Note 17)
B04
Total fixed assets
B05
Current assets
Stocks (Note 18)
B06
Debtors (Note 19)
B07
Investments (Note 17.4)
B08
Cash at bank and in hand (Note 24)
B09
Total current assets
B10
Creditors: amounts falling due within
one year (Note 20)
B11
Net current assets/(liabilities)
B12
Total assets less current liabilities
B13
Creditors: amounts falling due after
one year (Note 20)
B14
Provisions for liabilities
B15
Total net assets or liabilities
B16
Funds of the Charity
Endowment funds (Note 27)
B17
Restricted income funds (Note 27)
B18
Unrestricted funds
B19
Revaluation reserve
B20
Fair value reserve
B21
Total funds
B22		 Unrestricted
funds
£
F01
Restricted
income
funds
£
F02		 Endowment
funds
Total this
year
£
£
F03
F04		 Endowment
funds
Total this
year
£
£
F03
F04		 Total last
year
£
F05
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - 302 3,492
- - - - -
- - - 71,037 30,040
- - - 71,339 33,532
- - - 1,483 3,509
- - - 69,856 30,023
- - - 69,856 30,023
- - - - -
- - - - -
- - - 69,856 30,023
- - -
- 21,504 23,597
- 48,352 6,425
-
- - - 69,856 30,023

The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

ect to the small companies regime and in accordance with FRS102 SORP.
Signature of director authenticating accounts being sent to
Companies House
Signed by one or two trustees/directors on behalf of all the
trustees/directors		 Print Name Date of
approval
dd/mm/yyyy
Kelvin Youngs 03/08/2021
Signature Date
dd/mm/yyyy
03/08/2021
Print name

CC17a (Excel)

01/07/2021

2

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts 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.

The accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities • and with ✓ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 • and with ✓ the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)

The charity constitutes a public benefit entity as defined by ✓ FRS 102.*

1.2 Going concern

If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:

An explanation as to those factors that support Not applicable the conclusion that the charity is a going concern;

Disclosure of any uncertainties that make the Not applicable going concern assumption doubtful; Where accounts are not prepared on a going Not applicable concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.

1.3 Change of accounting policy

The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.

Yes ✓ * -Tick as appropriate No ✓

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).

Yes ✓ * -Tick as appropriate No ✓

1.5 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).

Yes ✓ * -Tick as appropriate No ✓

CC17a (Excel)

01/07/2021

3

Section C Notes to the accounts (cont)

Note 2 Accounting policies

2.2 INCOME

These are included in the Statement of Financial Activities (SoFA) when:

Recognition of income

Donated goods
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Volunteer help
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
Donated services and
facilities
Contractual income and
performance related
grants
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
Support costs
Investment gains and
losses
Settlement of insurance
claims
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
Donated services and facilities that are consumed immediately are recognised as
income with an equivalent amount recognised as an expense under the appropriate
heading in the SOFA.
Government grants
The charity has received government grants in the reporting period
Legacies
Tax reclaims on
donations and gifts
Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
Income from membership
subscriptions
Income from interest,
royalties and dividends
The charity has incurred expenditure on support costs.
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on receipt.
In the reporting period in which the stocks are distributed, they are recognised as an
expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
Offsetting
Grants and donations
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.
Gift Aid receivable is included in income when there is a valid declaration from the donor.
Any Gift Aid amount recovered on a donation is considered to be part of that gift and is
treated as an addition to the same fund as the initial donation unless the donor or the
terms of the appeal have specified otherwise.
There has been no offsetting of assets and liabilities, or income and expenses, unless
required or permitted by the FRS 102 SORP or FRS 102.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
• it is more likely than not that the trustees will receive the resources;
• the monetary value can be measured with sufficient reliability.
Grants and donations are only included in the SoFA when the general income
recognition criteria are met (5.10 to 5.12 FRS102 SORP).
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.		 Yes
No
N/a*		 Yes
No
N/a*		 Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓

CC17 FRS 102 SORP

01/07/2021

4

2.3 EXPENDITURE AND LIABILITIES

Grants with performance
conditions
2.4 ASSETS
The charity has investments which it holds for resale or pending their sale and cash and
cash equivalents with a maturity date less than one year. These include cash on deposit
and cash equivalents with a maturity of loss than one year held for investment purposes
rather than to meet short-term cash commitments as they fall due.
Governance and support
costs
Creditors
Redundancy cost
The charity made no redundancy payments during the reporting period.
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are
valued at initially at cost and subsequently at fair value (their market value) at the year
end. The same treatment is applied to unlisted investments unless fair value cannot be
measured reliably in which case it is measured at cost less impairment.
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
Current asset
investments
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
The charity has creditors which are measured at settlement amounts less any trade
discounts
These are capitalised if they can be used for more than one year, and cost at least
Heritage assets
Deferred income
No material item of deferred income has been included in the accounts.
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
Basic financial
instruments
Stocks and work in
progress
Debtors
They are valued at cost.
Tangible fixed assets for
use by charity
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of the
obligation can be measured with reasonable certainty.
Grants payable without
performance conditions
The depreciation rates and methods used are disclosed in note 14.
Intangible fixed assets
The charity accounts for basic financial instruments on initial recognition as per
paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
Investments held for resale or pending their sale and cash and cash equivalents with a
maturity date of less than 1 year are treated as current asset investments
They are valued at cost.
They are valued at cost.
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through custody
or legal rights. The amortisation rates and methods used are disclosed in note 15.
The charity has heritage assets, that is, non-monetary assets with historic, artistic,
scientific, technological, geophysical or environmental qualities that are held and
maintained principally for their contribution to knowledge and culture. The depreciation
rates and methods used as disclosed in note 16.
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or
net realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable
value based on the service potential provided by items of stock.
Debtors (including trade debtors and loans receivable) are measured on initial
recognition at settlement amount after any trade discounts or amount advanced by the
charity. Subsequently, they are measured at the cash or other consideration expected to
be received.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the
contract.
They are valued at fair value except where they qualify as basic financial instruments.		 Yes
No
N/a*		 Yes
No
N/a*		 Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓
Yes
No
N/a*
✓ ✓ ✓

CC17 FRS 102 SORP

01/07/2021

5

Section C Notes to the accounts (cont)

Note 3 Income

Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Donations and gifts
136,913 7,904
-144,818 128,281
Gift Aid
885
- -885-
Legacies
- - - - -
General grants provided by government/other
charities
- - - - -
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donatedgoods,facilities and services
- - - - -
Other
- - - -
Total 137,798 7,904
- 145,702 128,281
- - - - -
Retreat & Training
- - - -2,543
Other
1,526
- -1,526 2,362
- - - - -
Total 1,526
- -1,526 4,905
- - - - -
- - - - -
- - - - -
Other
- - - - -
Total
- - - - -
Interest income
60
- -60 303
Dividend income
- - - -
Rental and leasing income
- - - - -
Other
- - - - -
Total 60
- -60 303
- - - - -
- - - - -
- - - - -
- - - - -
Total
- - - - -
Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset held
forcharity's ownuse
- - - - -
Gain on disposal of a programme related
investment
- - - - -
Royalties from the exploitation of intellectual
propertyrights
- - - - -
Other
- - - - -
Total
- - - - -
139,384 7,904
-147,287 133,489
Analysis of income
Donations
and legacies:
TOTAL INCOME
Charitable
activities:
Separate
material item
of income
Other:
Income from
investments:
Other trading
activities:		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Analysis of income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Analysis of income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Analysis of income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Analysis of income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Analysis of income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Analysis of income
Donations and gifts 136,913 7,904 - 144,818 128,281
Gift Aid 885 - - 885 -
Legacies - - - - -
General grants provided by government/other
charities		 - - - - -
Membership subscriptions and sponsorships
which are in substance donations		 - - - -
Donatedgoods,facilities and services - - - - -
Other - - - -
Total 137,798 7,904 - 145,702 128,281
- - - - -
Retreat & Training - - - - 2,543
Other 1,526 - - 1,526 2,362
- - - - -
Total 1,526 - - 1,526 4,905
- - - - -
- - - - -
- - - - -
Other - - - - -
Total - - - - -
Interest income 60 - - 60 303
Dividend income - - - -
Rental and leasing income - - - - -
Other - - - - -
Total 60 - - 60 303
- - - - -
- - - - -
- - - - -
- - - - -
Total - - - - -
Conversion of endowment funds into income - - - - -
Gain on disposal of a tangible fixed asset held
forcharity's ownuse
-		 - - - -
Gain on disposal of a programme related
investment		 - - - - -
Royalties from the exploitation of intellectual
propertyrights		 - - - - -
Other - - - - -
Total - - - - -
139,384 7,904 - 147,287 133,489

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Other information:
All income in the prior year was unrestricted except for:
(please provide description and amounts)		 Indian Buddhist Youth £2092.68, Harshaprabha £102.99,
Kamalashila £161.57, Translations £88.86, Vessantara
£434.83, Suryaprabha £166.15, Suvannavira (Moscow) £984,
other £31.25
Where any endowment fund is converted into income in the
prior period, please give the reason for the conversion.
Where any endowment fund is converted into income in the
reporting period, please give the reason for the conversion.
Within the income items above the following items are
material: (please disclose the nature, amount and any prior
year amounts)
This year: Where sums originally denominated in foreign
currency have been included in income, explain the basis on
which those sums have been translated into sterling (or the
currency in which the accounts are drawn up).		 For donations from Triratna Centres outside the UK, the
exchange rate on the day the funds were received was used
Last year: Where sums originally denominated in foreign
currency have been included in income, explain the basis on
which those sums have been translated into sterling (or the
currency in which the accounts are drawn up).		 For donations from Triratna Centres outside the UK, the
exchange rate on the day the funds were received was used

Note: Donations and Gifts figures do not add up due to a rounding error.

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Section C Notes to the accounts (cont)

Note 6 Expenditure

Note 6 Expenditure
Analysis
Expenditure on raising funds:		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
£
£
This year
Last year
Incurred seeking donations 6,822 - - 6,822 7,399 - - 7,399
Incurred seeking legacies - - - - - - - -
Incurred seeking grants - - - - - - - -
Operating membership schemes and social
lotteries		 - - - - - - - -
Staging fundraising events - - - - - - - -
Fudraising agents - - - - - - - -
Operating charity shops - - - - - - - -
Operating a trading company undertaking
non-charitable trading activity		 - - - - - - - -

Advertising, marketing, direct mail and
publicity		 - - - - - - - -
Start up costs incurred in generating new
source of future income		 - - - - - - - -
Database development costs - - - - - - - -
Other trading activities - - - - - - - -
Investment management costs: - - - - - - - -
Portfolio management costs - - - - - - - -
Cost of obtaining investment advice - - - - - - - -
Investment administration costs - - - - - - - -
Intellectual property licencing costs - - - - - - - -
Rent collection, property repairs and
maintenance charges		 - - - - - - - -
- - - - - - - -
Total expenditure on raising funds 6,822 - - 6,822 7,399 - - 7,399
Expenditure on charitable activities:
Charitable activities 89,853 9,997 - 99,850 119,380 5,658 - 125,038
- - - - - - - -
- - - - - - - -
- - - - - - - -
Total expenditure on charitable activities 89,853 9,997 - 99,850 119,380 5,658 - 125,038
Separate material item of expense
- - - - - - - -
- - - - - - - -
- - - - - - - -
Total - - - - - - - -
Other
Governance 783 - - 783 2,085 - - 2,085
- - - - - - - -
- - - - - - - -
- - - - - - - -
Total other expenditure
TOTAL EXPENDITURE		 783 - - 783 2,085 - - 2,085
97,457 9,997 - 107,455 128,864 5,658 - 134,522

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Other information:

Analysis of expenditure on charitable activities

Thisyear Thisyear Thisyear Thisyear Lastyear Lastyear Lastyear Lastyear
Activity or programme Activities
undertaken
directly		 Grant
funding of
activities		 Support
Costs		 Total this
year		 Activities
undertaken
directly
Grant
funding of
activities
Support
Costs		 Total last
year
£ £ £ £ £ £ £ £
Cost ofgrants made - 22,677 - 22,677 28,975 - 28,975
Triratna Development Team - staff costs - 72,194 - 72,194 - 80,911 - 80,911
Triratna Development Team - other costs - 4,979 - 4,979 - 15,152 - 15,152
Total - 99,850 - 99,850 - 125,038 - 125,038

This year: Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).

For donations from Triratna Centres outside the UK, the exchange rate on the day the funds were received was used

Last year: Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).

For donations from Triratna Centres outside the UK, the exchange rate on the day the funds were received was used

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Section C Notes to the accounts

Note 10 Details of certain types of expenditure

Note 10.1 Fees for examination of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).

Tax advisory fees
Other fees (for example: financial advice, consultancy, accountancy services) paid
to the independent examiner
Independent examiner’s fees
Assurance services other than independent examination		 This year
£		 Last year
£
200 200
- -
- -
300 300

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Section C Notes to the accounts (cont)

Note 11 Paid employees

Please complete this note if the charity has any employees (transactions with Trustees dealt with in Note 28)

11.1 Staff Costs

11.1 Staff Costs
This year:
Salaries and wages
Social security costs
Other employee benefits
Total staff costs
Pension costs (defined contribution scheme)		 This year
£		 Last year
£
66,716 78,833
4,061 750
1,418 1,327
- -
72,194 80,911

Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party Last year:

During the year, £8580 was paid by the Future Dharma Fund towards Nandavajra's support for time spent working for them.

Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party

Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000

TRUE

Fundraising
Charitable Activities
Governance
Other
Total
Please provide the total amount paid to key management
11.2 Average head count in the year
The parts of the charity in which the
employees work		 Fundraising
Charitable Activities
Governance
Other
Total
Please provide the total amount paid to key management
11.2 Average head count in the year
The parts of the charity in which the
employees work		 Thisyear Lastyear
£ £
15,401 8,580
This year
Number		 Last year
Number
Fundraising - -
Charitable Activities 3 5
Governance - -
Other - -
Total 3 5

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Section C Notes to the accounts (cont)

Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.

12.1 Please complete this note if a defined contribution pension scheme is operated.

Amount of contributions recognised in the SOFA as an expense
Please explain the basis for allocating the liability and expense of
defined contribution pension scheme between activities and
between restricted and unrestricted funds.		 Thisyear Lastyear
£ £
1,418 5,049
All contributions to
pension schemes
relate to expenditure
on charitable
activities in
unrestricted funds.		 All contributions to
pension schemes
relate to expenditure
on charitable
activities in
unrestricted funds.

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Section C Notes to the accounts (cont)

Note 13 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

This year:

This year: This year: This year: This year: This year:
13.1 Analysis ofgrantspaid(included in cost of charitable activities)
Analysis Grants to
institutions		 Grants to
individuals		 Support costs Total
£ £
Clear Vision £ 700.00 700.00
Windhorse Publications 480.00 - - 480.00
Translation Fund 226.68 - - 226.68
The Triratna Trust 1,500.00 1,500.00
Future Dharma Fund 10,000.00 10,000.00
Triratna Institute Pune 2,140.58 2,140.58
Suvannavira -Moscow 1,305.00 1,305.00
Kamalashila 5,862.78 5,862.78
Vessantara 295.86 295.86
Suryaprabha 115.57 115.57
Others 51.00 51.00
Total 15,047 7,630 - 22,677

Please enter “Nil” if the charity does not identify and/or allocate support costs. Nil

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Last year:

13.3 Analysis of grants paid (included in cost of charitable activities)

Analysis Grants to
institutions		 Grants to
individuals		 Support costs
£		 Total
£
Clear Vision 5,500.00 - - 5,500.00
Dharmachakra 13,500.00 - - 13,500.00
Windhorse Publications 2,000.00 - - 2,000.00
Translation Fund 6,040.00 - - 6,040.00
Suvannavira -Moscow 1,230.00 1,230.00
Harshprabha 97.84 97.84
Vessantara 449.19 449.19
Suryagupta 157.84 157.84
Total 27,040 1,935 - 28,975

Please enter “Nil” if the charity does not identify and/or allocate support costs. Nil

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Section C Notes to the accounts (cont)

Note 19 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

19.1 Analysis of debtors

Total
Trade debtors
Prepayments and accrued income
Other debtors		 This year
£		 Last year
£
-
6.5 3,317.1
295.3 175.3
301.8 3,492.4

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Section C Notes to the accounts (cont)

Note 20 Creditors and accruals Please complete this note if the charity has any creditors or accruals.

20.1 Analysis of creditors

20.1 Analysis of creditors
Accruals for grants payable
Bank loans and overdrafts
Trade creditors
Payments received on account for contracts
or performance-related grants
Accruals and deferred income
Taxation and social security
Other creditors
Total		 Amounts falling due
within one year		 Amounts falling due after
more than one year
This year
£		 Last year
£		 This year
£		 Last year
£
- - - -
- - - -
- - - -
- - - -
1,483 3,509 - -
- - - -
- - - -
1,483 3,509 - -

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Section C Notes to the accounts (cont)

Other
Short term deposits
Cash at bank and on hand
Total
Note 24 Cash at bank and in hand
Short term cash investments (less than 3 months maturity date)
This year
£		 Last year
£
- -
- -
71,037 30,040
- -
71,037 30,040

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Section C Notes to the accounts (cont)

Note 27 Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.

* Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

funds
Fund names Type PE, EE
**R or UR ***		 Purpose and Restrictions Fund
balances
brought
forward
£		 Income
£		 Expenditure
£		 Transfers
£		 Gains and
losses
£		 Fund
balances
carried
forward
£
Harshaprabha R 212 - - - - 212
Kamalashila R 382 6,172 -5,863 - - 691
Suryaprabha R 382 122 - 116 - - 388
Vessantara R 598 311 - 296 - - 614
Val R 568 - - 227 - - 341
Suvannavira R - 183 1,044 - 1,305 - - - 444
Urban Retreat R 3,127 - - - - 3,127
Other Restricted R 157 - -51 - - 106
Legacy R 16,262 - - - - 16,262
Indian BuddhistYouth R 2,093 255 - 2,141 - - 208
General UR 6,426 139,383 -97,457 48,352
Other funds (balancing
figure)		 N/a N/a - - - - - -
Total Funds as per balance sheet 30,023 147,287 - 107,455 - - 69,856
Fund balances carried forward include assets and liabilities denominated in a foreign currency Yes
No
✓
✓
✓ ✓

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Section C Notes to the accounts (cont)

Note 27 Charity funds

27.2 Details of material funds held and movements during the PREVIOUS reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.

* Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

funds
Fund names Type PE, EE
**R or UR ***		 Purpose and Restrictions Fund
balances
brought
forward
£		 Income
£		 Expenditure
£		 Transfers
£		 Gains and
losses
£		 Fund
balances
carried
forward
£
Harshaprabha R 207 103 -98 - - 212
Kamalashila R 220 162 - - - 382
Suryaprabha R 374 166 - 158 - - 382
Vessantara R 612 435 - 449 - - 598
Vali R 479 89 - - - 568
YoungBuddhists R 3,723 - -3,723 - - -
Suvannavira R 63 984 - 1,230 - - - 183
Urban Retreat R 3,127 - - - - 3,127
Other Restricted R 126 31 - 157
Legacy R 16,262 - - - - 16,262
Indian BuddhistYouth R - 2,093 - - - 2,093
General UR 5,863 129,427 - 128,864 6,426
Other funds (balancing
figure)		 N/a N/a - - - - - -
Total Funds as per balance sheet 31,056 133,490 - 134,522 - - 30,023
Fund balances carried forward include assets and liabilities denominated in a foreign currency Yes
No
✓
✓
✓ ✓

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Section C Notes to the accounts (cont)

Note 28 Transactions with trustees and related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.

28.1 Trustee remuneration and benefits

This year

None of the trustees have been paid any remuneration or received any other benefits from an TRUE employment with their charity or a related entity (True or False) Last year TRUE

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

28.2 Trustees' expenses

If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".

No trustee expenses have been incurred (True or False) FALSE
Type of expenses reimbursed This year Last year
£ £
Travel 189 449
Subsistence 81 436
Accommodation - -
Other (please specify): - -
- -
TOTAL 270 885
Please provide the number of trustees reimbursed for expenses or who
had expenses paid by the charity
2 4

28.3 Transaction(s) with related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.

This year

There have been no related party transactions in the reporting period (True or False)

TRUE

Last year

There have been no related party transactions in the reporting period (True or False) TRUE

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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examlnerfs report on th8 accounts S•¢tlon A ••￿. l•*. Ind•p•nd•nt Examlner'• Report R•port to th• tru•t•Wdlrnctornl m•mber• of Triratna Chalrs A888mbty On •¢count• for th• y•ar •nd 3111212020 Charfty no.: 1117287 Company no.: 05950533 I report to the chatity trustees on my examination of the acMunts of the Company for the year ended 3111212020, AS the chaTity'8 tru3t8es of thè Company (who aro a180 the directorJ of the company for the purpose8 of company law), you are responsible for the preparation of the 8ccounts in accordance with the requirements of tt Companie8 Act 2006 {?he 2006 Act.). Having satisfied myself that the accounts of the Company are not required to be audited for thi8 year 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 Acr}. In carying out my examination, I have followed the Directions given by the Charty Commission (under seCt￿n 145(5)(b) of the 2011 ACL R••pon8lbllltlM •nd bas1$ of rnport Independ•nt 8xaminerf8 8tstement I have completed my examination. I confinn that no material matters have come to my attention which gives me cause to believe that. . 8ccounting records were not kept in accordance with seth'on 386 of the Companies Act 2006: or • the accounts do not accord with such records: or • the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination: or .the accounts hav8 not l)een prepared in accordance with the Charities SORP (FRS102). I have no con¢8rn8 and have corne acr083 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 th8 accounts to be reached. Slgned: Data: 01109r2021 Nama: Fay Pritchard IER October 2018

Relevant professlonal qualificatlon(s) or body lif any): AAT LI￿nsed Accountant No: 1004354 Address: 8 Darwin Street, Shrewsbury, SY3 8QE Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity arxounts; directions and guidance for examiners). Give here brfef details of any items that the examiner wishes to disclose. IER October 2018