Charlty feglstratlon number 1126476 Company reglstration numbèr 06688355 (England and Wal•8) HARNHAM BUDDHIST MONASTERY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
HARNHAM BUDDHIST MONASTERY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trnstees Mr. P K Hansen Ms. P M Padbury Dr, M Poar¢e Mr. J T Bower Mr E P Duncan (Appointed 2 Deeember 2023) (Appointed 29 July 2023) Mr R E Imllard Secrelary Mrs. P B Wakefiefd Pearce Charfty numbgr 1126476 Company number 06688355 ROglred offlcg 2 Harnham Hall Cottages Harnham Belsay NeW311e UFrf)n Tyne Tyne And Wear United Kingdom NE20 OHF Indep8ndent exomlner Joanne Regan FCA AzetsAudit Services Bulman House Regent Centre Gosforth Newcastle UFon Tyne NE3 3LS
HARNHAM BUDDHIST MONASTERY TRUST CONTENTS Page Trustee5' rep¢xt ststement of trustees, SponsIbl11116s Independent èxaminèfs rep)rt statement of financial activities Balance sheet Notes to the financial *alements 9-22
HARNHAM BUDDHIST MONASTERY TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trnstegs psent their ieport and accounts for the year ended 31 December 2023. The financial statements have been prepared in 8ccordance wth the aceounling poliaes sel out in note 1 10 the financial slalemenls and comply wrth the Irusfs goveming document, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in aceord?n¢8 with the Fuiancial ReportiNJ Stsndard applicable in the UK and RepUtlC ol Ireland IFRS 102} {effe¢live 1 January 20191.. Oblectlves and actlvltles Thè primary objedive of the Trust is lo prom¢)te Ihe teachings of the Buddha 'by providiThJ, mainlatning and supporting. in accordance with th8 Theravada Vinaya, residential estsblishmenls for a Monastic Sangha of petsons who have undertaken the rules of training Isikkhapada) and lo support lay people in the pradice of the teachings of the Buddha.. The policies adopted in furtherance of Ihls ctjjective is detailed in appendix 1. The tnjstees have paid due r8gard lo gUIdar issued ty Ihe Charity Commissim in deciding what adivities the tru818hould undertake in order lo fLher the ChariLle purpose5 for the public beneffit. Detsils of the a¢tivib'es of the charty during the year are incIjed at appendix 1. Achievements and performance Detsils of the hievements of the tharity during the yr are included in appendix 1. Financial revoew The Iransaclions and financial position of the charty are $h¢)wn in pages 4 to 20 of the Count9. 11 is Ihe Folicy of the tnjst that unrestricted funds which have not been designated for 8 specffic use should be maintained al a level equivalent to befven three and six month's expenditure. The Iruslees consider that resee5 at this level wll ensure that. in the event of a ggnificant ¢Jrop in funding, they VMII be able to continue the Iru81'8 current *th"vities while ¢on$ideralion Is given to ways in which additional funds may be raised. This level of reserves has been maKilained throughout the year. The Irustess can invest any surns or investments re¢eNed by them in invgstmenls in they are by law authorised lo invest trust monoy wth the Per from lime lo time lo thange for others of a like nature. The Irustees have assessed the Ma1 tisks to which the trust is exposed. aNI are s8tlsfied that systems are In plawlo mitigate exposure lo the major risks. After makn'ng appropriate enquires, the Iruslees have a reasonable expectati¢)n that the Charity has adequate resourtes to eonlinue5 in opeTatsonal existence for the foreseeable futLsre. For this reason they continue to adopt the going concern basis in preparing the financTal slatemenls. Structurej govemance and management The trust is o company limited by guarantee. The trustees, who are also the directors for the purpose of eompanylow, and who served duriro the year were.. Mr. P K Hansen Mrs. K A Jon8S Myinl Su Ms. P M Padbury Dr. M Pearce Mr. J T Bower {Re5rgned 1 May 20231 (Resigned 1 April 20231
HARNHAM BUDDHIST MONASTERY TRUST TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT> FOR THE YEAR ENDED 31 DECEMBER 2023 Mr E P Duncan Mr R E Willard (Appolnted 2 December 2023) (Appointed 29 July 2023} The members of the charity may by ordinary resoiution al an annual or &xtraordinary general meeting appoint and remove directors. None of the Irustses has any beneficial interest in the company. Al of the trustees are directors of the company. The day to day management of the monastery is overseen by the Monastery Committee which consists of some of the resident monks (including one who is a Member of Homham Buddhist Monastery Trust) and the offi administrator. Th& Monastery Committee meets every 2 weeks. One of the Directors is also a member of the Monastery Committe& bul doesnl generally attend. The Directors receive the Monastery Commlttee minules. The office adminislralor is the only employee al present. Pay is reviewed annually at the summer Hamham Buddhist Monastery Trust Oirectors meeting. Pay is in¢re05ed in line wlh Current trends and agreed by the Directors, vdlh approval of the members. The Hamham Buddhist Monastery Trust succeeded the Magga Bhavaka Trust in n4nning the monastery. Publ1¢ Ben•fft The Iruslees have referred lo the guidance in the Charity Commission's general gUIdae on public benefit when reviewing the aims and objectives and in planning future activities. The charitablg objectives are a150 sel in order to provid& a clear and demonstrable pubtic ben8fiL The trustees confirm that they have complied wth the rèquiremen15 Of section 17 of the CharrtiesAct 2011 to have due regard tD Ihe public benefit guidance published by the Charity Commission for England and Wales. Audltor A resolution proposing Ihal Joanne Regan FCA be reappointed as independent examiners of the c(Mnpany will be put lo the members. The report has been prepared having taken advantage of the small companies exemption in the Companies Act 20C6. On alf of the board of trustees Trustee Dated..
HARNHAM BUDDHIST MONASTERY TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees are responsible for preparing the TIu51ees' Report and the accounts in aordanCe with aPplibIe18w and United Kingdom Accounting Standards Else Endio (United Kingdom GenerallyAccepted Accounting Practice). Company law requires the trustees lo prepare accounts for ead7 financial year whKh give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, inclwjing the tncome arKI expenditure, of the charitable company for th* year. In preparing these accounts, the trustees are required lo.. select suitable accounb'ng pdicies and then appty them cL)nsistenlly- - observe the methods and principles in the Charities SORP., - make judgements and 8stimal8s that ar8 reasonable and prudent., stsle whether applicable UK Accounting Stsndards have been followed, subject lo any material depat1ures disdp$8d and explained in the anIS., and - prepare the aG¢ounts on the going concem basi$ unless il is inappropriate to presume that the trust will continue in operation. The trustees are responsible for keeping adequate accounbng records that disclose wth reasonable accuracy al any lime the financial position of the trust and enable them lo ensure that the accounts comply with the Companies Act 2006. They are also responslble for safeguarding the assets of the Iwst and henee for taklng reasonable steps for the prevention and detection of fraud and other irregularities.
HARNHAM BUDDHIST MONASTERY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HARNHAM BUDDHIST MONASTERY TRUST I report to the trustees on my examination of the financ6al Statements of Hamharn Buddhist Monastwy Twst (the trust) for Ihe year ended 31 December 2023. Respon$lbllltles and ba$1$ of roport As Ihe tnjstees of the Iwst land also 115 directors for the purposos of c¢mpany lawl you are spOnsible for I preparation of the financkl $l*emenls in 8ccordance with thè requirements of the Compani&s Ad 20C6 (the 20C Acil. Hawng satisfied tllyself that the finanal statements of the trust afft nol wuired to bo audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in re5ped ol my examination of the trust'5 ffinanryal statements cairied out under 5e(aion 145 of the Charities Aci 2011 Ith• 2011 Act). In carying out my examination I have followed all the applicable Dirtr¢tlon$ gTrien by the Charty cornmissn under sect 14515llbl of the 2011 Ad. Ind•pondent oxaminerf$ $tst•ment I have CoMpted my examination. I nffirM that no mAtt8rs have come lo my attention in connoction wlh th examination giving mè cause to believe that in any material respect.. accounting rècords werè not kept in respect of the trust as required by section 386 of the 2006A¢ or Ihg financial slalemenls do not accord wrth those records,. or the financial slatem¢nts do not comply with the ¥c¢ounting requiremenls of section 396 of the 2006 Ad other than any requirement Ihal the accounts gNO a true and fair view which is not a matter con8idered as part of an independent examination., or the finanty81 Statèments have not been prepared in accordance with the methLKls and princApks of th sktemenl of Re¢ommended Pia¢tice fof accounting and reporting by chariiie$ 8pplicabte to charities preparing their aceA)unts in acrdanCe wilh thè Finala1 Raporting Stsndard appluble in the UK aNI Rgpublic of Ireland IFRS 1021. I have no corKems and have com9 across no other matters in ry)nneetion with the exaMinatn to which attenli¢rb should be drawn in this report in order to enable a proper understanding of the financkql ststemenls to be rea¢h8d. Joann¢ Regan FCA Azels Audil Services Bulman House Regènt Centre Gosforth New¢a$lk Upon Tyne NE3 3LS Dated: .. Azels Audit SeThices is a trading namè ofAzetsAudit SeNce5 Limrted.
HARNHAM BUDDHIST MONASTERY TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Current financial y•ar Unrestricted R¢strlctsd End0V*nt funds funds funds 2023 2023 2023 Total Total 2023 2022 Notes Donations and legacies Investments 150.571 6,707 28,617 179.188 6,707 142.334 3.639 Total income 157.278 28,617 185.895 145.973 charitab actiwties 141.612 32,397 174.009 131.931 Nel gainsloossesl on investments 3,479 3,479 116,617) Net IncomSntyloutgolng} re8ource5 bèfore tran8f•rs 19,145 {3,7801 15.365 12.575) Net Incomingl{outgoingl resources before trangfe 19,145 13.780) 15,365 12.5751 Gross transfers befven fund8 6,320 {6.320} Nol movement In fund¥ 25,465 {10,1001 15.365 {2.575) Fund balances at 1 January 2023 2,036,741 60,858 4,023 2,101,V22 2,104,197 Fund balances at 31 December 2023 2.062,2C6 50,758 4,023 2,116.987 2.101,622 The stalemenl of finanaal activfties includes all gains and losses recognlsed in the year. All Income and expenditure derive from continuing ath'vilies. The statement of financial activrties 8180 complies with the requirements for an Inccme and expenditure account uTrJer the Companies Ad 2006.
HARNHAM BUDDHIST MONASTERY TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR TFIE YEAR ENDED 31 DECEMBER 2023 Prior financial y•ar Unrestricted R•8trict•d EndOvmnt funds funds funds 2022 2022 2022 Total 2022 Note8 Donations and legaoes Investments 115,977 3,639 26.357 142.334 3,639 Total income 119.616 26,357 145,973 Charltable 8Ctivitles 116,338 15.593 131.931 Net gainsl{lossesl on investments 116.617) (16.617} Net Incomlnglloutgolng) rgsourc85 before transfe 113,339} 10.764 (2,5751 Gross transfers betsv88n fijnds 9,224 19,224) N•t movement In funds {4.115) 12.5751 Fund balances at 1 January 2022 2,040,856 59.318 4,023 2,104.197 Fund balancK at 31 December 2022 2,036.741 60.858 4,023 2.101,622
HARNHAM BUDDHIST MONASTERY TRUST BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets Investments 11 10 1.634,494 77.249 1,648,476 70,278 1,711.743 1.718.754 Current assets Debtors Cash at bank and in hand 12 13,438 403.730 12.949 379,072 417,168 392,021 Crnditorn: amounts falling due within one year 13 {11,924) 19,153) Net current assets 405,244 382,8e8 Totsl agsets less current Ilabllttles 2,116,987 2,101,822 Capltal lunds Endowment fvnds- general Income fund$ Reslricled funds 16 4,023 4,023 17 SO,758 60.858 Designated funds G8n8ral unre$lri¢led fiJnds 18 411,904 1,650,302 370,115 1,666,626 2,062,206 2,036,741 2.116.987 2,101,622
HARNHAM BUDDHIST MONASTERY TRUST BALANCE SHEET (CONTINUED) AS AT31 DECEMBER 2023 The company was enlilled lo the exemption from the audit requirement contsined in section 477 of the Companies Ael 2006 relating to srnall companies, for the year ended 31 December 2023. The directors acknovledge their responslbllille$ for ensuring that the charity keeps accountiry reC(d$ Ithich comply with sedion 386 of the Act and for preparing financial statements 1¢h give a true and fair view of the stale of affairs of the company as at the end of the financial year and of its incoming roxwrces and applcation ol resourees, including ils income and expenditure, for the ffinancial year in accordance with the requirements of sections 394 and 395 and which otherwise comply th the requirements of the Companies Aot 2006 relatlng to financial statements, so far as applicable lo the company. The mernbers have not required the company to obtain 8n audit in accordance wth section 476 of the Companle8 Act 2006. These financial ststemenls have been prepared in accord8nGe with provisions applicable to companies subject to the small companies regime. The financial 5tstem8nls w8r& approved by the Trustees on ........... .. Bower Company roglstration number 06688356
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles Charlty Informatlon Hamham Buddhist Monastery Trust Is 8 private eompany 1Srnrted by guarantee in¢orporated Sn England and Wales. The registered office is 2 Hamham Hall Cottages, Hamham. Belsay. Newcastle Upon Tyne, NE20 OHF. 1.1 Accounting conv•ntion The financial slalemenls have been prepared In accordance with the tru$l's goveming document. the Companies Act 2006 and 'Accounting and Reporting by Charities.. Ststemenl of Rg¢ommendeil Practice applicable to charities preparing their accounts in accordance Mlh the Finanaal Reporting Standard appli¢able in the UK and Republic of Irelantj IFRS 1021 leffecllve 1 January 2019}" The trust is a Public Benefit Enlty a$ deffinod by FRS 102. The diselosure requirements of Section 1A of FRS 102 have been applied other than where additional d15closure is required lo show a true and fair view. The charity has tsken advantage of the provisions in the SORP for charities not to prepare a statnent of Cash FI¢). The financial slalements are prepared in sterfing, which is the functional currency ef the trust. Monetary amounts in these financial slalements are rounded lo the neare81 £. The financial statements have been prepared under the historical cost convention, modrfied to include investments al fair value. The ptinclpal accounting 5)olIc$ adopted are set out below. 1.2 Golng concern At the time of approving the financial slalements, the trustees have a reasonable expectstion that the trust has adequat8 resourc8s to continue in operational exigtence for the foreseeable future. Thus the trteeS continue to adopt the gOg cOrern basis of accounting in pPann9 the fin8ncial statements. 1.3 Charltable funds Designated fvnds comprise funds which have been set aside at the disGrelion of the trustees for specific purposes. The purposes and uses of the degnated funds are set out in th8 nol8s lo the financial statements. Reslrided funds are suts'ect to specific condits'ons by donors as lo how tY may be used. The purposes and use5 Qf the restricted funds ar& set out in the noles lo the financial statements.
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontlnued) 1.4 Income All Iome is recogni$ed once the Trust has entillemenl lo the income, it is probable that the income will b8 received and the amount of income receivable can be measured reliably. Donations, are recognised when the Trust has been notffied in writing of both the amount and sottkmenl date. In the event that a donation is subject lo conditions thal require 8 level of perfoimance before the Trust 1$ enlilled to the fund, the ineorne is defeffed and not recognised until either those conditions ar8 fully mel, or the fulfilmenl of those conditions is wholly within the control of the charity and It is probable thal those conditions will be fulfilled in the reportmig period. Income tax Tecoverable in relatn to donations received under Gift Ald is recognised at the time of the donation, Legacy gifts are recogNsed on a cas8 by case basis followng th& granting of probate when the administralorl executor for the estate has communicated in writing both the amount and settlement dale. In the event that the gift is in the fomi of an asset other than cash or a financial asset traded on a recognised stock exchange, remgnilion is subject lo the valu¢ of the gift being reliabty mea5ureablg wlh a degree ol reasonable aUraCY and the title to the asset having been transferred to the ehanty. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Tiusl., this 1$ normally upon notification of the inteiesl paid or payable by the bank. Assets given for use by the trust 8re cLniSed vA)en receivable. The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers. d2tsils of which are given in our annual report. In accordance with FRS 102 ar¢d the Charitie$ SORP IFRS 1021, the economic conlnLwtion of general volunteers 1$ not renised in the accounts. Ass8ts giv8n for use by th8 trust are recognised hthen receivable. 1.5 Exponditur• Expenditure is recconised once there is a legal or constructive Dbligalion to transfer econom benefit lo a Ihird paty, it is probable that a transfrr of economic benefits will be roquired in settlement, and the amount of the obligation can be measure<l reliably. ExpeTrJilure is classtfied by activity. The $ts of each a¢tivty are made up of the totsl of diW costs arKI shared costs, including support cL)sls involved in undertakin9 each aclivily. Direct costs attributable lo a single activity are allocated directly lo that aclivily. Shared Costs which contribute lo more than one aclwity and support costs which are not attributable to 8 single activity are 8PPOrtioned belween those acbviti2s on a basis ¢onsiStent wrth the use of resources. Central staff costs are allocated on the basis of time spent, and depreeialion tharges are allctaled on the portion of the asset's use. Liabilities are recognised as expenditur8 as soon as ther8 is a legal or conslrucbve obligation committing the Trust to that expenditure, it is probable that settlement will be required and the amount of the 019allOn can be measuied reliably. The policy for including items within the fvndraising and Gharitable aGtivilies is on an a¢crual basis. Charitable activities comprise of exFenditure associated with promoting the teachings of Buddha and indude both Ihe direct costs and costs of an indirect nature necessary to support such activities. Govèmance eosl$ include those costs assoeiated with meeting the conslitulional and ststulory requirements of the chanty and include the independent examinats.on fees. 10-
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontlnued 1.6 Tanglblg fixed assets Tangible fixed assets are initi?Ily measured at Go$t, net of depreciation and any impairment10$$8S. Depreciation is recognised so as lo write off the cost or valuation of assets less their reshlual values over their useful lives on the following bases.. Freehold building8 Solar Panels Other fixtures, frttings & equipment 1% straight line 4% straight line 25% strai9hl line The gain or loss arising on the disposal ol an asset is detemiined as the drfference beeen Ihe sale proceeds and the carrying value of the asset. and 1$ recogni5ed in the Statement of financial activities. 1.7 Flxed asset Invgslmgnts Flxed asset investments are Inillally measured al transacli¢)n prke excluding Iransacts'on costs. and are subsequently measured al fair value al each reporting date. Changes in fair value are wognlsed In nel Incomellexpendilurel for the year. Transaction costs are expensed as incurred. 1.8 Cash and ¢a$h equlvalents Cash and cash equivalents include cash in hand. deposits ld al c811 ¥th banks. other short-term liquid investments with ¢yiginal maluritses of three months or less. and bank overdrafts. Bank overdrafts are shch within borrowings in ojrrent liabilities. 1.9 Flnanclal Instruments The trust has elected to apply the provisions of Section 11 'Basic Finanaal Inslwments, and Secllon 12 '01her Financial Instruments Issues, of FRS 102 to all of ils financial instruments. FinancSal instruments are recognised in the trusl's balance sheet when the trust beeomes party lo the contraclual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financFal statements, when Ihere is a legally enforceable right lo set off the recognised amount5 and there is an intention to settle on • r£t basis or to realise the asset and settle the liability simultsneously. Basic flnancialassets Basie finaneial assets, whieh indude debtors and cash and bank balances, are initially measured transaction price induding transactlon costs and are subsequently carried 8t amertised cost using the effective interest method. Basic financial liabilities Basic financial liabilities. induding creditors and bank loans are initially recognised * transaction price unless the arrangement constilules a financing transaction, where the debt instrument 1$ measured al the presenl value of th8 fulure payments discounteil al a market rate of inleresl. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequendy carried at amortised cost. using the effective interest rate meth¢)d. Trade creditors ale obligations lo pay for goods or services that have been aequired in the ordinay course of operations from suppliers Amounts payable are classffjed as current liabilities if payment is due wthin one year or less. If not, they are presented as non-current liabilities. Trade creditors are reco9nised initially al transadion price and subsequently measured al amortised cost using the effective inte$l method. 11
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policios IContinu•dl Inancial liabilities Dèrecognition of r Finanal liabilities ar¢ derecognised when the tru51'5 contractual obligations e¥Jire or are discharged or cantslled. 1.10 Leasès Leases are classified as finan leases whenever the temis of the lease transfer $ubslanb"alty all the risks 8nd rewards of ownership to the lessees. All other leases a classified as ¢JFeraling leases. Assets held under finance leases are recognised as assets al the lower of the assets fair value 81 the date ol inception and the presonl value of the minimum lease payments. The related liabilty is included in Ihe balance Sheet as a finance lease obligation. Lease payments are tre81ed as consisting of c8Pital and interest elements. The interest is charged to net incomel{expenditurel for the year 80 as to produce a constant periodic rate of interest on the remainiThJ balon¢e of the liability. Rentals payable under operating leases, including any lease inontive3 received. are charged as an expense on a straight line basis over the tem) of the relevant lease. 1.11 Taxation As a registered charrty, the company is exempt from income and Corporat)n tax to the extent that lis income and gains are applicable to charitable purpose only. 1.12 Fund8 slructure pollcy The ¢harrty maintains a general unrestricted fund which represerts fuTrls which are expeThdable at the disttetion of the trustees in furtherance of the obj'ects of the chaiity. Designated lunds compris8 ftAnds which have been set aside al the diserelion of the trustees fcf speryfic purposes. Such d8Signaled fund5 may be h8ld in order lo finance both working cawlal and capitsl investment Funds designated for a particular purpose by the charty are also unrestricted. En¢SJwment IXIS are subject lo specific conditions by donors Ihat the capital must be maintained by the trL$8t. Restricted funds are subiecl lo specrfic conditions by donor5 as lo hthy they may te used. The purposes and uses of the restricted funds are sel out In the notes lo the &ccoJnts. 1.13 Investment Incoma Bank interest is included in the ineL*me and expendhure account on a receIvaeS basis. Crltlcal accountlng estlmatos and Judgomtsnts In the application of the IrLbSt's accounting policies, the trustees are required lo make judgemenls, 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 ¢knr factors that are con5ideied lo be rekvant. Actual results may differ from these ests'mates. The eslimales and underfying assumptions are reviewed on an ongoing basis. Revisions lo a¢untIng estimates are recognised in the period in whith the estimate is revised where the revision affects only that period, or in the period of the revision and lulure periods where thè revision afftS bolh current and future periods. 12-
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Donatlons and lega¢les Unrestricted Restricted funds funds Totsl 2023 Total 2022 Donations and gifts 150,571 28,617 179,188 142.334 For tho yoar endgd 31 December 2022 11 5,977 26,357 142.334 Investments Unrnstrlctsd Unrestrlctsd funds funds 2023 2022 Dislribubons from bond Interest receivable 3,492 3,215 2,965 674 6,707 3,639 13-
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activitles Unrestrlcted funds Regtrietèd funds Total 2023 Totsl 2022 Expenses to promote teaching5 of the BJdha.. Staff costs Rent and Tales Light and he?1 Insurance Repairs Offiee admin Telephono Motor Travel Legal fees Sundry Bank charges Household expenses Depreciation Events and retreats Governance costs Items of religeous signiffcance Profwioss on disposal of fixed assets Publication expenses Bhikkhu Welfare & Pavarana expenses Breakfast expenses Miscellaneous expenses Dana expense5 Publulion expenses Kitchen 8J(P8nses 12,600 7,888 32,413 6.468 22,215 4,570 2,428 8,073 1,133 12.800 7,868 32,413 6,468 22,215 4,570 2.428 8.073 1,133 12.644 7,565 23,084 5,922 15,157 8.812 2,409 7,045 360 431 40 383 5,170 22,995 1,970 327 8,393 22,957 3.076 4,140 2,256 280 1,970 327 8,393 22,957 3,076 4,140 2,256 3,876 7,753 5.381 11.491 994 2,217 4.561 7,7S3 5,381 11,491 994 2,217 4,561 2.797 3,656 4,191 1,468 2,137 141,611 32.397 174.008 131,931 The tolal charitable activities expenditure lolalled £174,Crf)812022 - £131,931) of whlch £141,611 was unrestricted (2022 - £116.337} and £32.397 was restricted12022- £15,593). Included in govemance costs is an independent exominalion fee of £4,140 {2022 - £3.876). Other financial serViS perfomied by the Indelndent examiner in the year lotslled £44412022 - £431) and are included in legal fees. Trustees None of the trustees lor any persons conn¢¢t¢d with Iheml received any remuneratlon during the year, but 1 of them was reim1rSed a total of £144 travelling expen¥8S. 14-
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employees Number of employees The average monthly number of employees during the year was: 2023 Number 2022 Number Offiee Admini$lralors Employment costs Wages and salaries Social security costs Other pension costs 2023 12,188 90 178 2022 11.985 360 205 12.456 12,550 There were no employe8s whose annual remuneration was £60.000 or more. Net galnslllosses} on Investments Unrestrlcted funds Total 2023 2022 Revaluation of inv8slm8nts 3.479 {16,6171 Taxation The charity 1$ exempl from lax on income and gains faNing wthin section 505 of the Taxes Ad 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objects. 15-
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Fixed asset Investments Listgd Inveslrnents Cost or valuatlon At 1 January 2023 Additions Valuation changes 70,278 3,492 3,479 At 31 DeGember2023 77.249 Carrylng amount At 31 De¢8mber 2023 77,249 At 31 December2022 70.278 Listed mveslments induded above.. 2023 2022 Llsted investments carrying amount 77,249 70.278 The maH(el value of an investment was measured by reference to 8 listed unil price at the year end 31 December 2023. 16-
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FQR THE YEAR ENDED 31 DECEMBER 2023 11 Tanglble flxed a$$ets Freohold bulldlngs Solar Panels othor flxtures, fittlngs & equlpm9nt Total Cost At 1 January 2023 Additions Disposals 1,738,581 10,300 98,270 9,311 12.641) 1.847.131 9.311 {2,991) 13501 At 31 December 2023 1,738,211 10,300 104,940 1,853.451 Depr•clatlon and Impalrment Al 1 January 2023 Charge for the year On disposals 111,727 12,795 (181 81,985 9,750 {2,6381 198,656 22,957 12.6561 412 Al 31 December 2023 124.504 5,356 89,097 218,957 Carrylng amount At 31 December 2023 1.613,707 15,843 1.634,494 At 31 December 2022 1,626,835 5.356 16,285 1,648,476 12 D8btOf5 2023 2022 Amounts falllng due within one year- Trade debtors Other debtor5 Prepayments and awued income {1) 9.591 3,848 9,628 3.321 13.438 12.949 13 Cr•dltors: amounts falllng du¢ wlthln one y•ar 2023 2022 Trade creditor5 Olher creditofs Accruals and deferred income 3,414 2,526 5,984 4.118 171 11,924 9,153 14 Deferred Income Deferred incclne is indu¢Jed in the financial ststements as follows.. 17-
HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Deferred income (Contlnued) Movements in the year. Dèferred income at 1 January 2023 Released previous periods ResKJurces dgferred in th8 year 307 (307) 50 307 Deferred income at 31 Drnber 2023 50 307 16 Retirement benefrt schomgs The trust operates a defined contrlbutlon penslon seheme for all qualfying employees. The 8ssels of the scheme are h81d separately from those ofthe trust in an in¢Jependendy administered fund. The charge lo profft or loss in respect of d8fin8d contribution schemes was £17812022.. £205). 16 End0ent funds Endowment funds represent assets which wnust be held pemianenlly by the trust. Income arising on the endowment funds can be used in accordance the objeds of the trust and is induded as unrestricted income. Any capital gains or losses arising the a88els trm part of the fund. Movemgnt In funds Incomlng 8alan¢• at resourcw1 January 2023 Movèment in funds In¢omlng Balan¢0 at rn¥oUr8 31 December 2023 Balance at l January 2022 Pemianent endowmonts Endowment fund 4,023 4,023 4,023 4,023 4,023 4,023 18-
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HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Deslgnatod funds The in(xMne funds of the charity include the following deslgnated funds which have been sel oside out of unrestricted fvnds by the trustees for specific purposes.. Mov•m•nt in funds Incomlng Re8OLifc8S re8ourc88 exppThJ8d Balan¢• at 1 January 2023 Transf&rs Balara ai 31 Dgcember 2023 L(ry Term Reserve FuThJ Designated Culinary Fund Ageing Samanas Fund Short Terni Reserve Fund Replacement Fund Project Fund Publication Fund 221,157 3,822 99.342 25.000 13.864 6,305 625 22,531 243,888 1,785 109,342 25,000 14,451 13,014 4,625 {3341 {1,703} 10,000 5.828 8,400 4,000 {5,241) 11,6911 370.115 50,759 17,266) 11,7031 411,904 Long Temi Reserve Fund". Foi improvements of existing buildings, purchase of additional property or land and any other use at the discretion of Luang Por Munindo. Designated Culinary Fund.. Used for soya milk, packed lunches and other kitchen items. Ageing Samana$ Fund,. Intended to provide the finanryal support neSSary for re$ident ailing andlu ag8d Samanas of the charity lo be able to continue living the renuncianl life a5 fully as possible within the Hamham Community or rf not practical, elsewhere. Short Term Reserve Fund.. An emergency frjnd lo u)ver 3 month5 running cost5. Replacement Fund.. Foi itS in regu18r use that need replacing. Projecl Fund.. For small building yojects. Publlcalion Fund.. For publKation costs. 19 Sharg capSts1 The company does not have share capital and is limited by guarantee. In the event of the company teing wound w) the maximum amount whith each member is liable to contribute is £1. -20-
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HARNHAM BUDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Operatlng l•asè cornmllments Al the repOrng end dale the trust had outstarKling commrtmgnls for future minimum lease payments under ncn-cancellable operating leases, which fall due as follows: 2023 2022 7.987 22 Related party transactlons There werè no rela18d party Iransaclions during the year12022 - none).
Harnham Buddhist MonasteryTrust Trnstee8 Anllll Rtport 2023 TheTru5tees of Harnham Buddhist Monasterytake thisopportunityto offerour bestwishes to the extended communityoffriends andsupporters andto reporton the artlvitles of the monastery andthe Trustduring2023. We are Sincerely indebtedto the lay supporters fortheirongoingsupport and to the sangha for their continued inspiringpresence. commitment and willingness to share theirexperience of the Buddha's path with us. This reportprovides information a1ttheOrganisatl0n of the rnona5teryand its resident¢ommunity togetherwith detail$ of theartivities undertaken dwing2023.Asummaryofourfinanfial situatron is also induded. TheTn Harnham Buddhist Monastery TrL¢St IHBMT) is a Registered Charity {no11z6476) and a Company Limited byGuarantee (no.6688355) and is the governing body responsible forthe stewardship of Harnham Buddhist Monastery. The governingdocuments for HBMT are the Memorandum and Articles of Association. The primary objertive of the Trust 15 to promotethe teachings ofthe Buddha:'by providing. maintaining andsUPPOrting, in accordancewith the Thernvada Vinaya. residential establishments fora Monastic Sangha of persons who have undertaken the rules of training (Sikkhapad4} andto SUPPOrt lay people in the prarticeof the teachings of the Buddha.. Atthe start of 2023 theTrustees (who are also Dirertor5 of HBMT Ltd.) were.. Philippa Padbury. Myint Su, Mike Pearce,John Bower, Kath Jones. and Paul Hansen {Chair). We are sorry to reportthat Myint Su, sadlydied in April 2023. Myint Su had been a Direttortrrustee for over3oyears and we are indebted to herfor all those year5 of 5UPPOrting the sangha and lay community atAruna Ratanagiri. Kath ?ones stood down as a Directorifrustee in May. We are very grateful to Kath for her dedication andsupport and particularly for managingthe lay retreats so wonderfully for manyyears. Two new Directorsrrrustees were welcomed on board. Rion Willard in julyand Eddie Duncan in December. Penny Wakefield-Pearce was employed as Trust Secretary. Treasurer and Office Administrator. lan Plagaro Neill continuedto help the team as Office Assistant The day to dayaffair5 of the Monastery continued to be overseen by the'ManagernentGroup' {comprising members ofthe monasticcommunity andthe Office Administrator) with referenceto the Tlltees. Representative5 from the Thai andsri Lankan communities have offered toactas a link between the sangha andtheircommunities and other laysupporters havevolunteered to be contacted fortasks such as helpingwith cooking. events and retreats. The Resident Community The fluctuations of this year's community has been More or less as usual. Tan Jotisaro disrobed atthe end of the Winter Retreat 2022123. An. Ben left the training in May. An. Francescotook pabbajja underLuang Pormunindo in Mayand becameSamaneraAttannu. Laterin theyear he was sentto Chitthurst to spend his Winter Retreat there.
In April thecommunitywelcomedtwo newAnagarikas. An. BeatandAn. Craig. An. Beatbade farewell to the community later in October. Tan Sucinno left in Novemberto spend his lastyear of navaka training (the first5 years of being a bhikkhu} in Wat Pah Nanachai (fhailandl. Tan Mahesako left after finishing his navakayears to explore other monasteries during his majjihma period. S. Ariyacitto from Santacittarama joined the community forthe rains retreat. 5. Thitapemo joined from the same monasteryforthewinter Retreat. Luang Por Munindo. Ajahn Punnyo. T. Samacitto. S. Nibbuto, S. Thitapemo {visiting} and An. Craig entered the Winter Retreat2023124. Sanghavisitors Afterthe Winter Retreat 22123 Tan Ajahn Kevali came to spend an extended period of his sabbatical at Harnham [30th March- 16th November). His Stays were briefly inrerrupted through his visits to his mother in Germany. Due to several retreats thatwere held at Harnham {see Artivitiesl many senior Elders such as Tan Ajahn Amaro. Ajahn Jutindharo, Ajahn Nyanarato, Ajahn Sister Khemaka. Ajahn Ahimsako andAjahn Abhinando could be welcomed at Harnham not only to facilitate theirteaching role on the retreats but also to spend time with the monastic sangha. During the month ofMayAjahn Jayanto- the abbot ofTemple Forest Monastery- andAjahn Sawaeng each spent a week at Harnham. Ajahn Anando- the cabbot of Temple- visited also for a week in December. Luang Por Sucitto and Ajahn Karuniko came separately for their annual weekly stay in September. Tan Thee and Tan Sudhammo visited for a 2-week stay and participated in the preparations rtheyear's Kathin3 and Elders Council Meeting. They left soon afterwards. In Julywe weresurprised by a sponraneous visitof Luang Por Lai. Luang Por Chalee and Ajahn Techin visiting for a couple day5. Ajahn Sangvom and Tan Porshe also joined later in the month. In both visits. the seniorAjahns generously made themselves available for the local Thai commLtnityto gather and pay their respects. The total number of visiting sangha members frfyrtheyear 2023 was 19. Events With the ending of Cov119 restrictior7s in 2022 and sUmIng(he nornial artivities of the monastery. Aruna Ratanagiri significantly increased its events in 2023. During the first half of theyear we celebrated Songkran and Vesak a5 usual. and hosted several large-scale meal danas. Ajahn Punnyo represented Harnham Buddhist Monastery at the first Elder5 Council Meetingof theyearand also received his new title of'Phra Kru Viboon Sarakit Phra Ku Suat, from Luang Por Sumedho. In August we held a Thai Pah Bah with about two dozen Thai visitors from around Englandjoiningto make the offering. In Ortober. the resident sangha supported Luang Por Munindo to enable him to have a private retreat for one month. Thisyear itwas possible for us to hold a Kathina Cerernony. with Tan Mahesako and Ajahn Kevali joiningthe resident bhikkhu commLLnity in April and stayingforthe Vassa period. The Kathina sponsor5 took the opportunity atthe ceremony to offer a beautiful Buddha rupa. a YD printof the main rupa in the Dhamrna Hall. Ahead of Kaihina we also heldthe year's second Elders Council Meeting. Over 30 monastics were presentduringthis period. To help with accommodation. neighbouring properties were rented on behalf of the monasiery by a generous donor. With the ending of our Kathina and the last
medirarion retreat of theyear. we said farewell to half of the resident community. as theytravelled on to other monasteries. Theyear finished with our traditional New Year'5 Eve Aspirations and Forgiveness Ceremow. Activities Thisyearsix retreats We held at Kusala House taught by visifingAjahns. Duringthe yearthe residentsangha accepted some invitations to danas (receiving offerings) outside the monasterywith some long-term supporters. As usual Luang Por Munindo has generously continued to offer Dhamma reflections on Sunday evenings. These are attended by the resident community, guests who are Staying in the Kusala House. and other visitors are welcome. Most of the talks have been uploadedonline for people to listen to ratana iri.or teachin s talks Also Luang Por Munindo continued to share. online, his fleCtionS on the Dhammapada verses every Full Moon ratana teathin s dhamma da-reflections . An upgraded version of the main webslte is being produced alongwith a new sisterwebsite where Luang Pormunindo invites questions via email and uploads his response Idhammakatha.org.ukl. The newslblogwas also sentoutevery Newmoon ratana to update the wider commur)ity aboutthe activities of the monastery and any monastery related information that might be useful for them to know about in the upcomi ngweeks. We held a Lake Work Day most months. occasion5 where lay visitor5 were welcome to come forthe day andjoin the sangha and guests in tasks around Harnham lake. news rinances Income In z023 the total income was approximately£i85,8951£145,973 irt 2022). Of this £157.278 wa5 donated to General FLtnds and£28.617 to Restricted Funds {i.e. specified by the donor fora particular purpose). Ex enses In 2023 total expenses were approximately£174,0091É131.931 in 20221, £141,612 from General Funds and £32,397 from Restricted Funds. Here is a breakdown ofthe basic costs spent in maintaining the monastery: {excludingexpenses such as travel, publication producrion. andexceptional expenses covered by Restrirted Funds).. Annual Cost (Q Monthly Cost (£) Utilities and firewood 32413 Household expenses 8393 699 Motoring expenses 8073 673 RenL rate5 and insurance 14336 1195
Repairs and maintenance 22Z15 1851 Phones and Internet 2428 202 Welfare (medicines, dentis( etc.) z608 217 Office Administration lincsalary. etc.} 17170 1431 Governance costs (accountant) 4140 345 Events Iretreats. festivals. etc) 3076 256 The Monasteryalso receives rnany donations of food and small household item5 throughouttheyear. A number of tasks, that might otherwise represent expenses to the Trus¢ are undertaken by volunteers, such as gardening, MainteTran, drivingand IT assistance. Standin Orders At present. regulardonations by standing orders cover about25/0 of the running costs each month. It is very helpful in managing the monastery's finances to know that regular costs will be covered to at least this extent. To set up a standingorderdonation, forms are available on the website www.ratanagiri.org.uk and at the monastery. Reserve5 As the level of donation5 can be variable the Trust holds funds in reserve to ensurethat immediate liabilities can be met in case of a sudden drop in donation& The Trustcurrently hold5 the following Reserye Funds.. i. Short Tem) Reservtr. £25.000 (approximately 3 months basic runningcosts). 2. LongTerm Reserve.. attheendof 2023 held £243.688 (fvimpmvements tOmOn¢erybildlnS5and prtTrpertyp¥rcho5e- forexamplethe Tpustshopes topuprhose the fveholdofpartrfthe mOastery which is uprentlyleased. shouldit be¢om¢ ovailable.) 3. Replacement Fund: £144y for emergency repair5 and replacements. 4. Ageingsamanas Fund.. of approxima*ly£109342 which is invested to provide forany increased costs involved with looking after elderly (or disabled) sangha member5. It is hoped that this will enable us to provide a level of care such thataged and infirm sangha may continue to live within the monastery for the duration oftheir life. 5. An Endowment Fun¢l. £4023 invested to generate income as asafeguard forthe loThgterm future of the monary.
Banking The Trust holds the funds spread overseveral rypes of bank accounts with different providers. These are two currentaccounts, an accountto receive5tanding orders, deposit accounts and a unit trust As far as possible the Trtee5 have chosen banks tha[a ethically principled. Shouldyou require anyfurtherinformation about HMBfs finances please contactthe Trust Secretary. email: secretary@ratanagiri.org.uk Policies The Trust has adopted polieies for.. Risk Management. Investments, Vulnerable Beneficiaries {including Child Protertion), Conflicts of Interest, Volunteer ManagemenL Complaints Handling. Data Protettion and Health andsafety. Hornhqm 8uddhistMoKAstery Tr¥st (HBMT) thegoveynino bodyFesponsible fvrthestewardshipof Ht7rnham Buddhirt Mtsnostery. (ct) This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivative5 4.0 International License.