Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
**==> picture [115 x 116] intentionally omitted <==**
## **MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
## **31 DECEMBER 2023**
Registered Charity Number 1129621
Dhamma Land, Hardings Elms Road, Crays Hill, Billericay Essex
CM11 2UH United Kingdom
www.mahamevnawaimc.org
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## **MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Contents**
Pages Description
- 3 - 6 Report of the Trustees
- 7 Independent Examiner’s Report
- 8 Statement of Financial Activities
- 9 Balance Sheet
- 10 Cash Flow Statement
- 11-12 Principal Accounting Policies
- 13-15 Notes to the Accounts
Page **2**
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
# **MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **REPORT OF THE TRUSTEES**
The Trustees of the Mahamevnawa International Meditation Centre present their report with the financial statements of the Charity for the period ended 31 December 2023.
## **Mahamevnawa International Meditation Centre Trustees**
|Rev K Dhammadewa Thero|Trustee|
|---|---|
|Rev W Amithagaweshi Thero|Trustee|
|Dr Somil D Wijendra|Trustee|
|Dr Kirana S Arambage|Trustee|
## **Committee Members**
|**Committee Members**||
|---|---|
|Suresh C Hewapathirana|Secretary|
|Shamil A Wickramage|Assistant Secretary|
|Ravin D Jayasekara|Treasurer|
|Sampath P K Suriyaarachchilage|Assistant Treasure|
|Hasith S Kumarapperuma|Assistant Treasure|
|Gimla Dissanayake|Assistant Treasure|
|Hettiarachchige Sarath J Hettiarachchi||
|Suminda R D Dissanayake Mudiyanselage||
|Vasantha S Kaludewa||
|Duminda S J Wanasingha W Mudiyanselage||
|Dewapurage Chathura R Munasinghe||
|Sanjeewa S Singhabahu Achchige Don||
|Chavithra D C Kuruppu||
## **Legal Advisor**
Mrs Ramani Gunasekera - LLB, Nandy & Co Solicitors, 62 Woodgrange Road, Forest Gate, London E7 0Qh
Page **3**
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## **MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Independent Examiner**
Lal Ranasinghe - B Com (Hons), ACMA, CGMA, ASA
## **Governance Structure:**
The Mahamevmawa International Meditation is a registered Charity in the UK (Registration number 1129621). It is governed by the Constitution, first adopted on 5 April 2009 and amended in March 2013 and on 29 September 2018.
## **The Charity’s Objects are as follows**
1. To establish a suitable landmark and set up adequate facilities to create a conducive environment for dissemination of Theravada Buddhist practices.
2. To support and maintain general welfare of the resident monks of Forest Monastic Order, thereby helping them to act as spiritual guides and ministers for the well-being of the community as a whole.
3. To disseminate knowledge on the teaching, practice and realisation of Buddhist doctrine to the society by conducting programmes such as monthly Observance Days, Children’s and Youth Programmes.
4. To create a suitable environment for meditation practices and provide guidance for stress management.
5. To facilitate the development of meditation, morality, wisdom and compassion through the Theravada Forest Monastic tradition of Buddhism.
6. To maintain and continuously develop a lasting spiritual base for original Buddhist teachings and its practices in the United Kingdom.
7. To set up additional branches or centres in the United Kingdom.
8. To establish and maintain facilities to promote Buddhist teachings and meditation practices in the United Kingdom and worldwide.
9. To establish a state-of the-art Resource Centre with books and audio-visual media to disseminate original Buddhist teachings.
10. To offer welfare services to marginalised sections of society thereby helping to create a cohesive and peaceful community.
11. To create a centre for school children and teachers to study and understand Theravada Buddhism, meditation techniques and also to give an insight into Buddhist cultural aspects.
12. To provide social services to the local community by conducting programmes such as blood donation campaigns, prison counselling services, mental health improvement services and welfare events for the elderly.
13. To offer regular residential meditation retreats to the community led by the Monks from the Sri Lankan Forest Monastic Order.
14. To liaise with other Buddhist groups with similar aims and objectives and with other religious groups to maintain multi-cultural understanding and community cohesion.
Page **4**
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## **MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
15. To show tolerance to all schools of Buddhist thought and to all other religions.
16. To liaise and conduct programmes jointly with other international branches of the Mahamevnawa organisation in disseminating Buddhist teachings.
17. To invite scholar Monks from Sri Lanka to deliver special meditation retreats in the United Kingdom and provide suitable welfare during their stay
18. To promote and observe religious activities in accordance with the Buddhist calendar.
19. To conduct a special annual programme on Wesak day in May encompassing the Birth, Enlightenment (Nirvana) and the Great Passing away (Parinirvana) of Gautama Buddha.
20. To teach original Buddhism in other languages.
21. To promote the significance of Buddhist symbols of Theravada tradition.
## **Activities**
Mahamevnawa International Meditation Centre has been expanding its services to promote mindfulness and spiritual wellbeing of the society by using meditation-based teaching of Theravada Buddhism. The Trustees of the Charity, with the assistance of the committee, currently launched a number of strategic investment projects to expand its services to South Wales and Scotland with a view to providing a wider access to local communities, in addition to expanding and modernising the conference facility at the main Monastery.
## **Volunteers**
The Charity owes a great debt to the volunteers who supported it through a vast range of activities in order to promote the charity’s objectives. The Trustees owe a great debt to all those who supported the Charity - may they realise the Four Noble Truths.
## **Statement of Trustees Responsibilities**
The Trustees of the Mahamevnawa International Meditation Centre are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are to prepare financial statements for each financial year. In preparing those financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charity SORP;
- Make judgements and estimates that are reasonable and prudent;
- Identify if the Charity is able to pay bills, invoices, charges or meet other liabilities as they fall due – going concern;
Page **5**
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## **MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of the Charity. They are also responsible for safeguarding the assets of the Charity.
Insofar as the Trustees are aware:
- There is no relevant information of which the charity’s Independent Examiner is unaware; and
- The Trustees have taken all steps they ought to have taken to make themselves aware of any relevant accounting information and to establish that the Independent Examiner is aware of that information.
## **Acknowledgements**
The Trustees wish to extend their thanks to all the volunteers, supporters and donors of The Mahamevnawa International Meditation Centre who have continued its work by their interest and generosity.
## **Approved by the Trustees and signed on their behalf by:**
Rev W Amithagaweshi Thero Dr Kirana S Arambage
**==> picture [125 x 37] intentionally omitted <==**
**==> picture [84 x 37] intentionally omitted <==**
**……………………………………… ………………………**
Trustee
Trustee
Approved on 30[th] October 2024
Page **6**
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## **MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF THE MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE**
I report to the trustees on my examination of the accounts of the Mahamevnawa International Meditation Centre for the year ended 31 December 2023 which comprise of the Statement of Financial Activities, Charity Balance Sheet, Cash Flow Statement and related notes.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charitiy’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**==> picture [90 x 37] intentionally omitted <==**
…………………………………
Lal Ranasinghe – B. Com (Hons), ACMA, CGMA, ASA
113 Barnstaple Road, Southend-on-Sea, Essex, SS1 3PN
Date: 30[th] October 2024
Page **7**
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
(Charity Number: 1129621)
## STATEMENT OF FINANCIAL ACTIVITIES
## FOR THE YEAR ENDED 31ST DECEMBER 2023
|Note
**INCOME:**
Donations
Gift Aid
Other Income
Net gain/(loss) on disposal of fixed assets
TOTAL INCOME
**EXPENDITURE:**
Utility & Maintenance
2
Programmed Activities
3
Travelling & Vehicle Costs
4
TOTAL EXPENDITURE
**NET MOVEMENTS IN FUNDS**
Fund balances brought forward at 1st January
Fund balance carried forward at 31st December|Unrestricted
funds
Restricted
funds
Total
2023
2023
2023
£
£
£
238,421
-
238,421
6,405
-
6,405
-
-
-
5,800
5,800
250,626
-
250,626
(118,546)
-
(118,546)
(147,278)
-
(147,278)
(12,330)
-
(12,330)
(278,154)
-
(278,154)
(27,528)
-
(27,528)
893,708
-
893,708
866,180
-
866,180|Unrestricted
funds
Restricted
funds
Total
2022
2022
2022
£
£
£|
|---|---|---|
|||243,789
-
243,789
-
-
-
-
-
-
-
-
-|
|||243,789
-
243,789|
||||
|||(103,521)
-
(103,521)|
|||(101,771)
-
(101,771)|
|||(16,657)
-
(16,657)|
||||
|||(221,949)
-
(221,949)|
||||
|||21,840
-
21,840|
||||
|||871,868
-
871,868|
||||
|||893,708
-
893,708|
All amounts derive from continuing activities.
The notes on pages 11 to 15 form part of these accounts.
Page 8
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
(Charity Number: 1129621)
## BALANCE SHEET
## FOR THE YEAR ENDED 31ST DECEMBER 2023
|Note
**FIXED ASSETS:**
Freehold Propertes
6
Fixtures & Fittings
6
Computers & Equipment
6
Tangible Fixed Assets
6
**CURRENT ASSETS**
Debtors
7
Cash at bank and in hand
Total Current Assets
**CURRENT LIABILITIES**
Creditors falling due within one year
**NET CURRENT ASSETS**
**LONG TERM LIABILITIES**
Creditors falling due after more than one year
8
**NET ASSETS**
**FUNDS:**
Unrestricted Fund
9
Restricted Funds
**TOTAL FUNDS**|Amount
31-Dec-23
£
1,056,626
-
10,357
1,066,983
7,250
192,813
200,063
-
200,063
(400,866)
866,180
866,180
-
866,180|Amount
31-Dec-22
£|
|---|---|---|
|||1,064,984
3,287
5,978|
||||
|||1,074,249|
||||
||||
|||-|
|||236,929|
||||
|||236,929|
||||
|||-|
||||
|||236,929|
||||
|||(417,470)|
||||
|||893,708|
||||
|||893,708|
|||-|
||||
|||893,708|
The financial statements on pages 8 to 15 were approved by the Trustees on 30 October 2024. and signed on their behalf by:
**==> picture [124 x 37] intentionally omitted <==**
**==> picture [83 x 37] intentionally omitted <==**
Trustee (Rev W Amithagaweshi Thero) Trustee (Dr Kirana S Arambage)
The notes on pages 11 to 15 form part of these accounts.
Page 9
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
(Charity Number: 1129621)
## CASH FLOW STATEMENT
## FOR THE YEAR ENDED 31ST DECEMBER 2023
|Net income / (expenditure) for the reporting period
Adjustments for:
Depreciation
(Gains) /loss on disposal of fixed assets
(Increase) / Decrease in debtors
(Decrease) / Increase in creditors
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Purchase of fixed assets
Proceeds from sale of fixed assets
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period|Note|
|---|---|
Page 10
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
(Charity Number: 1129621)
## NOTES TO THE FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 31ST DECEMBER 2023
## **1. ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
- (a) The Financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts.
Charity's assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
- (b) The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
- (c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
- (d) Expenditure and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## (e) Funds
Funds held by the Charity are:
- 1 Unrestricted funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
- 2 Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.
Page 11
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
(Charity Number: 1129621)
## NOTES TO THE FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 31ST DECEMBER 2023
## **1. ACCOUNTING POLICIES (CONTINUED)**
## (f) Debtors
Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## (g) Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar accounts.
## (h) Creditors and Provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
- (i) Depreciation:
Tangible fixed assets have been capitalised at cost or acquisition value and where assets have been donated, at their value at date of receipt.
Depreciation on freehold properties is provided on a streight line basis, at the rate of 4% (Building Fabric), 5% (Roof, Electrical and Mechanical) and 7% (Windows) per annum, in line with the Component Accounting.
Motor vehicles and Computers & equipment are depreciated on a straight line basis at a rate of 25% per annum and furniture & equipment are depreciated at 20% on a straight line basis for items which exceed £3,000 in value, individually or for groups of related assets.
Page 12
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
## NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
|**2. Utilities and Maintenance**
Rent and Rates
Utilities
Other Maintenance Costs
Depreciation
Mortgage Interest
Total
**3. Dhamma Programmed Activity**
Dhamma Events & Promotion Cost including Hall Hire
Books and Publications
Total
**4. Travelling and Vehicle Cost**
Travelling Including Air Fare
Vehicle Expenses
Total|2023
£
30,482
17,310
20,425
19,514
30,815
118,546
146,978
300
147,278
12,240
90
12,330|2022
£|
|---|---|---|
|||25,308|
|||11,334|
|||27,570|
|||21,048|
|||18,261|
||||
|||103,521|
||||
|||100,782|
|||989|
||||
|||101,771|
||||
|||14,814|
|||1,843|
||||
|||16,657|
## **5. Employees and Trustee Cost**
The Charity does not employ permanent or temporary staff as it is run by volunteers. Therefore, no employee related payments, such as salaries, bonus, pension, NI etc. were made during the year (2022 - £nil).
During the year under review, payments amounting to £24,000 were paid to a relative of one of the Trustees for a property rented by the Mahamevnawa International Meditation Centre for its Charitable purposes (2022 - £20,000).
Apart from the above, no other payments were made to Trustees during the year (2022 - £nil).
Page 13
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
## NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
|**6. Tangible Fixed Assets**
Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
**Cost:**
As at 1 January 2023
962,530
185,742
20,600
36,355
27,095
1,232,322
Additions
-
-
-
-
12,248
12,248
Disposals
-
-
(20,600)
-
-
(20,600)
As at 31 December 2023
962,530
185,742
-
36,355
39,343
1,223,970
**Depreciation:**
As at 1 January 2023
-
(83,288)
(20,600)
(33,068)
(21,117)
(158,073)
Charge for the year
-
(8,358)
-
(3,287)
(7,869)
(19,514)
Disposals
-
-
20,600
-
-
20,600
As at 31 December 2023
-
(91,646)
-
(36,355)
(28,986)
(156,987)
**Net Book Value**
As at 1 January 2023
962,530
102,454
-
3,287
5,978
1,074,249
As at 31 December 2023
962,530
94,096
-
-
10,357
1,066,983
**7. Debtors & Stocks**
2023
2022
£
£
Refundable Deposits
7,250
-
Other Receivable
-
-
Total Debtors
7,250
-
**8. Long Term Liabilities**
**Creditors falling due after more than one year**
2023
2022
£
£
Opening Balance
417,470
438,408
Additions
-
-
Repayments
(16,604)
(20,938)
Closing Balance
400,866
417,470|Freehold
Land
£|Buildings
£|Motor
Vehicles
£|Furniture
& Fittings
£|Computers
&
Equipment
£|Total
£|
|---|---|---|---|---|---|---|
||962,530
-
-|185,742
-
-|20,600
-
(20,600)|36,355
-
-|27,095
12,248
-|1,232,322
12,248
(20,600)|
||962,530|185,742|-|36,355|39,343|1,223,970|
||||||||
||-
-
-|(83,288)|(20,600)
-
20,600|(33,068)|(21,117)
(7,869)
-|(158,073)
(19,514)
20,600|
|||(8,358)||(3,287)|||
|||-||-|||
||-|(91,646)|-|(36,355)|(28,986)|(156,987)|
||||||||
||962,530|102,454|-|3,287|5,978|1,074,249|
||962,530|94,096|-|-|10,357|1,066,983|
||||2022
£
-
-
-
2022
£
438,408
-
(20,938)
417,470||||
## **9. Accumulated Fund**
|Opening Balance
Net movement in funds
Closing Balance|2023
Unrestricted Restricted
Total
£
£
£
893,708
-
893,708
(27,528)
-
(27,528)
866,180
-
866,180|2022|
|---|---|---|
|||Total|
|||£|
|||871,868|
|||21,840|
|||893,708|
Page 14
Docusign Envelope ID: 0CD0C202-8CB3-4C08-8370-823B00CA399C
## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE
(Charity Number: 1129621)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
## **10. NOTES TO CASH FLOW STATEMENT**
ANALYSIS OF CASH AND CASH EQUIVALENT
|Cash at bank and in hand
Short term deposits
Loans
Cash and cash equivalent|At 31st
December
2022
£'000
76,952
159,977
-
236,929|Cash flow
£'000
(2,439)
(41,677)
-
(44,116)|At 31st
December|
|---|---|---|---|
||||2023
£'000|
||||74,513
118,301
-|
||||192,813|
Page 15