## HARTRIDGE BUDDHIST MONASTERY TRUST
## **REPORT AND FINANCIAL STATEMENTS**
FOR THE **YEAR ENDED**
**31 DECEMBER 2022**
**REGISTERED COMPANY NUMBER** : **7387479 REGISTERED CHARITY NUMBER** : **1142439**
## Essell
29 Howard Street North Shields Tyne and Wear NE301AR
Tel· 0191 259 2743 Fax· 0191 257 2249 E-mail : info@essell co.uk Ref: ACR/2530
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **CONTENTS**
Report of the Trustees Page 1 - 3 Independent Examiners Report Page 4 Statement of Financial Activities Page5 Balance Sheet Page6 Notes to the Financial Statements Page 7 - 8 Detailed Statement of Financial Activities Page 9
Prepared by Essell Accountants Limited 29 Howard Street North Shields NE30 1AR Tel: 0191 259 2743: Fax 0191 257 2249 E-mail: info@essell.co.uk Ref: ACR/2530
HARTRIDGE BUDDHIST **MONASTERY** TRUST
Page 1
## **REPORT OF THE TRUSTEES**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022 The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in March 2005.
## **REGISTERED OFFICE**
Hartridge Buddhist Monastery, Upottery, Honiton, Devon, EX14 9QE
## **REGISTERED COMPANY NUMBER**
7387479
## **REGISTERED CHARITY NUMBER 1142439**
## **TRUSTEES**
Dr Maxim Alexander Mackay-James Robert Whittle Julian Wall Anne Williams Charles Graves Penelope Wakefield - Pearce Michelle Foster - resigned
## **COMPANY SECRETARY**
Alex C Robinson
## **INDEPENDENT EXAMINER**
Paul W Katz FCCA Essell 29 Howard Street North Shields Tyne and Wear NE30 1AR
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and Appointment of new trustees**
The subscribers to the Memorandum are the first Members of the Charity. Membership is subsequently open to other individuals who are Monastic Sangha residents at the Hartridge Buddhist Monastery by Ordinary Resolution at the Annual General Meeting or Extraordinary General Meeting
New trustees are identified and recruited by the existing trustees and resident monastics working together and formally appointed by resolution of the members.
## **Risk Management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 2
## **REPORT OF THE TRUSTEES CONTINUED**
## **Objectives and Aims**
The Objectives of the Charity are to promote and further the teaching of the Buddha (Buddha Sasana) by:
- providing, maintaining and supporting, in accordance with the principles of the Theravada Vinaya, residential establishments for a monastic sangha of the persons who have undertaken the Rules of training **(Sikkhapada)**
- Supporting lay people in the practice and teachings of the Buddha; and
- Such other means as may from time to time be decided
## **Review of Activities**
The Trust is the succession Trust of the Devon Vihara Trust (Charity no. 289636)
The main financial responsibility of the trust is the development, maintenance and upkeep of Hartridge Buddhist monastery. This continues to attract members of the public of all faiths who are interested to learn about, or deepen their understanding of Buddhism and are able to visit or stay at the monastery.
The monastery is the focal point for an extensive community. It provides spiritual support to and is generously supported by expatriate members of the Thai, Sri Lankan, Cambodian and Lao communities, as well as UK born Buddhists. The annual Kathina and Vesak ceremonies held at the monastery both attract 100-200 visitors.
The monasteries are open to the public on a daily basis and all are welcome to join in the formal meditation and puja activities. Some visitors request to stay for an extended period in order to deepen their practice of the Buddhist religion. Others gain benefit from the peaceful and calm woodland environment where ecological conservation is being undertaken through the contribution of volunteers.
Meditation classes, which are open to all members of the public whatever their faith and personal circumstances, are run on a regular basis. These classes are provided free of charge. Mindfulness meditation and the cultivation of loving kindness are practices with proven therapeutic benefits which have been adopted and adapted by healthcare professionals.
Meditation classes and residential retreats at other locations, as well as public talks and lectures, are given during the year, and these include visits to schools and other organisations.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 3
## **REPORT OF THE TRUSTEES CONTINUED**
## **OBJECTIVES AND ACTIVITIES**
## **ACHIEVEMENT AND PERFORMANCE**
After the monastic winter retreat, which ended at the start of April, the activity on the monastery gradually returned to pre-covid-19 routines. The size of the resident community varied between five and seven, which meant that the monastery was full much of the time. Usually there would be two to four lay guests at any one time.
Meditation workshops were well attended, and consequently extra workshops were held. However Sunday evening talks were generally less well attended than pre-covid. Festival days were well attended, including the annual Kathina festival in October. Several retreats were taught elsewhere, and a successful Thai weekend retreat was held at the monastery. Inter-monastery visits and exchanges resumed, with visits to Harnham, and to and from both Amaravati and Chithurst communities.
Total donations during the year were the highest ever, with a total of £122,394 received. Of this amount £36,600 was towards the construction of new kutis, and spending on the kutis in the year was £35,828. The Trust spent £23,379 on the day-to-day running expenditure of Hartridge, of which £834 was on administration for the independent examiners fees and £3,932 on a varity of sundry capital items.
Unrestricted income was £84,319 of which £5,916 was Gift Aid from HMRC, and £1,607 was payment under the Renewable Heat Incentive scheme for heat generated by the log boiler. A restricted travel fund expended £2,163 on running costs of the car and received £929 leaving a balance of £1,945 at the year end The Welfare fund expended £894 and received £545 leaving a balance of £6,001 at 31st December 2022.
One new kuti was completed during the year, and a second was nearing completion. A PA system was installed in the Dhamma Hall, and the roof of one of the older kutis was replaced with material recycled from buildings demolised at Amaravati monastery.
## **FINANCIAL REVIEW**
## **Reserves and Investment Policy**
The Trust holds a contingency reserve of £15,000, primarily to cover any sudden and maJor fall in voluntary income. This sum represents approximately one year of core expenditure, so it is thought that if a situation arose where either short or long term income seemed in doubt, the reserve would provide a period of between one to three years for the trustees to consider how best to proceed. The reserve was also available as a contingency against cost over-runs during the Dhamma Hall project, as cash flow needed to be carefully considered at various stages. However, by the end of 2019, the Dhamma Hall project had effectively been completed, and there are no immediate large capital projects planned, although there are some tentative ideas for further ahead.
' The Trust s unrestricted cash assets over and above the reserve are designated for future capital projects. Currently these assets are held in a current account as the trustees take a cautious view on riskier investment, interest rates in deposit accounts are exceptionally low, and the sums involved are relatively small.
## **ON BEHALF OF THE BOARD:**
**Trustee: Dr M Mackay.James**
**Date:**
## 25/7/23
Page 4
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
(A Company limited by guarantee)
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HARTRIDGE BUDDHIST MONASTERY TRUST LTD**
I report on the accounts of Hartridge Buddhist Monastery Trust for the year ended 31 December 2022, which are set out on pages 5 to 8.
This report is made solely to the trustees, as a body, in accordance with the regulations made under Section 44 of the Charities Act 1993, as amended by the Charities Act 2006. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees, as a body, for my **work,** for this report, or for the opinions I have formed.
## Respective responsibilities of trustees and examiner
The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible or independent examination it is my responsibility to:
Examine the accounts under section 43 of the Act; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act; and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures
in the accounts, and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would by required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair'' view and the report is limited to those set out in the statement below.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention·
1.) which gives me reasonable cause to believe that in any material respect, the requirements;
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
have not been met: or
2.) to which, in my opinion, attention should be drawn in order to enable a proper understand of the accounts to be reached.
## Paul ~~W K~~[-] ~~atz~~[-] ~~F~~ CCA
ESSELL ACCOUNTANTS, North Shields
Page 5
## **-iARTRIDGE BUDDHIST MONASTERY TRUST**
## **3TATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**NCOME AND ENDOWMENTS FROM**
£
)onations andLegacies
ncome from Investments
**rotalincomeand endowments**
**EXPENDITURE ON**
Expenditure on Charitable activities
**REVALUATION**
**Net Movement**in**Funds**
**Transfer between Funds**
**Total Funds Brought Forward**
**Total Funds Carried Forward**||Unrestricted
Restricted
Total Funds
Funds
Funds
31/12/2022
£
£
£
84,319
38,075
122,394
0
0
0
84,319
38,075
122,394|Unrestricted
Restricted
Total Funds
Funds
Funds
31/12/2022
£
£
£
84,319
38,075
122,394
0
0
0
84,319
38,075
122,394|Total Funds
31/12/2021
£
55,268
0
55,268
23
,
663
0
31,604
0
1,197,409
1,229,013|
|---|---|---|---|---|
||||||
||||(
15
,
506)
38
,
885
23
,
3
7
9||
||||
0
0
0
99,825
(810)
99,015
0
0
0
306,092
922,921
1,229,013||
||||||
||||405
,
917
922
,
110
1
,
328
,
028||
Page6
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2022**
|**FIXED ASSETS**
Fixed Assets(Note3)
**CURRENT ASSETS**
Cash at Bank andinHand
**CREDITORS: AMOUNTS FALLING DUE**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS(Note 5)**
Restricted Funds
Unrestricted Funds
**TOTAL FUNDS**|Unrestricted
Restricted
Funds
£
Funds
£
221,852
910,392
224,030
(27,109)
(1
,
138)
0
222,893
(27,109)|31/12/2022
Total
Funds
£
1,132,244
196,921
(1
,
138)
195,784
1,328,028
922,110
405,917
1
,
328
,
028|31/12/2021
Total
Funds
£
1,096,416
133,734
(1
,
138)
132,596|31/12/2021
Total
Funds
£
1,096,416
133,734
(1
,
138)
132,596|
|---|---|---|---|---|
||||||
||444,745
883,283|||1
,
229
,
013
922,921
306,092|
||||||
|||||1
,
229
,
013|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The Members have not required the charitable company to obtain an audit for its financial statement for the year ended 31 December 2022 in accordable with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for:-
1) ensuring that the Company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006, and
2) preparing financial statements which give a true and fair **view** of the state of affairs of the charitable company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of Section 393 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008)
Approved by the Board
**Dr M** A Mackay-James Trustee
25/7/23
Date
Page 7
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 ACCOUNTING POLICIES**
## **Accounting Convention**
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standards for Smaller entities, the Companies Act 2006 and the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming Resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources Expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible Fixed Assets**
Depreciation is provided at the following annual rates in order to write off assets over its estimated useful life.
- Land and Property - 0% on cost
- Investments - 0% on cost
- Motor Vehicle - 25% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2 TRUSTEES' REMUNERATION AND BENEFITS**
No remunerations or benefits were given during the year ended 31 December 2022.
## **Trustees Expenses**
No expenses were paid during the year.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 8
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
{Continued)
## **3. TANGIBLE FIXED ASSETS**
|
**COST**
As at 31 December 2021
Additionsin the Year
Revaluation in the Year
Disposals inthe Year
As at 31 December 2022
**DEPRECIATION**
As at 31 December 2021
Disposals in the Year
Charge for the Year
As at 31December 2022
**NET BOOK VALUE**
Asat 31 December2022
As at 31 December 2021|Land
&Property
Prop
lmprov
Investment
Motor
Vehicles
Total
£
£
£
£
£
600,000
496,416
0
900
1,097,316
0
35,828
0
0
35,828
0
0
0
0
0
0
0
0
0
0|
|---|---|
||600,000
532,244
0
900
1,133,144|
||0
0
0
900
900
0
0
0
0
0
0
0
0
0
0|
||0
0
0
900
900|
||600,000
532,244
0
0
1,132,244|
||600,000
496,416
0
0
1,096,416|
**4. CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other Creditors
**5.**
**MOVEMENT IN FUNDS**
**Unrestricted Fund**General Fund Fixed
Assets
**Restricted Fund**
Welfare Fund
Travel Fund
Property Improvements
Property Fund
**Revaluation Reserve**
**TOTAL FUNDS**|**2022**
**2021**
£
£
1,138
1,138
As at
31.12.21
£
Net
Transfer
Movement between funds
£
£
As at
3112.22
£
123,068
99,825
0
222,893
183,024
0
0
183,024|
|---|---|
||6,350
(349)
0
6,001
3,179
{1,234)
0
1,945
313,392
772
0
314,164
600,000
0
0
600,000
306,092
99,825
0
405,917|
||922,921
(810)
~~0~~
~~922,110~~
0
0
0
0|
||1,229,013
99,015
0
1,328,028|
Net movement in funds included in the above are as follows:
**Restricted Fund**
|**Unrestricted Fund**
GeneralFund
Property Fund
**Revaluation Reserve**
**TOTAL FUNDS**
Welfare Fund
Travel Fund
Capital Fund|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|
|---|---|---|---|
|||38,075
0
{38,885)
0|(810)
0|
|||122
,
394
(23,379)|99,015|
Page9
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**INCOMING RESOURCES**
**Voluntary Income**
Travel Fund and Welfare Donations
Capital Projects Donations
Gifts and Donations
RenewableHeat Incentive Scheme
Bank Interest Received
**Total incoming resources**
**RESOURCES EXPENDED**
**Costs associated with Charitable Activities**
Administration
Rates and Utilities
Motor and Travel
WelfareCosts
Telephone and Internet
Estate Expenses
Equipment
Accountancy
**Total resources expended**
**Net Surplus**|62
8,193
5,551
1,209
422
7,029
80
834|31/12/2022
£
1,475
36,600
82,712
1,607
0
122,394
23,379
99,015|185
6,593
1,198
1,945
706
9,016
3,192
828|31/12/2021
£
3,862
0
49,754
1,651
0
55,268
23,663|
|---|---|---|---|---|
||||||
|||||31,604|
**This page does not form part of the statutory financial statements**
## HARTRIDGE BUDDHIST MONASTERY TRUST
## **REPORT AND FINANCIAL STATEMENTS**
FOR THE **YEAR ENDED**
**31 DECEMBER 2022**
**REGISTERED COMPANY NUMBER** : **7387479 REGISTERED CHARITY NUMBER** : **1142439**
## Essell
29 Howard Street North Shields Tyne and Wear NE301AR
Tel· 0191 259 2743 Fax· 0191 257 2249 E-mail : info@essell co.uk Ref: ACR/2530
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **CONTENTS**
Report of the Trustees Page 1 - 3 Independent Examiners Report Page 4 Statement of Financial Activities Page5 Balance Sheet Page6 Notes to the Financial Statements Page 7 - 8 Detailed Statement of Financial Activities Page 9
Prepared by Essell Accountants Limited 29 Howard Street North Shields NE30 1AR Tel: 0191 259 2743: Fax 0191 257 2249 E-mail: info@essell.co.uk Ref: ACR/2530
HARTRIDGE BUDDHIST **MONASTERY** TRUST
Page 1
## **REPORT OF THE TRUSTEES**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022 The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in March 2005.
## **REGISTERED OFFICE**
Hartridge Buddhist Monastery, Upottery, Honiton, Devon, EX14 9QE
## **REGISTERED COMPANY NUMBER**
7387479
## **REGISTERED CHARITY NUMBER 1142439**
## **TRUSTEES**
Dr Maxim Alexander Mackay-James Robert Whittle Julian Wall Anne Williams Charles Graves Penelope Wakefield - Pearce Michelle Foster - resigned
## **COMPANY SECRETARY**
Alex C Robinson
## **INDEPENDENT EXAMINER**
Paul W Katz FCCA Essell 29 Howard Street North Shields Tyne and Wear NE30 1AR
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and Appointment of new trustees**
The subscribers to the Memorandum are the first Members of the Charity. Membership is subsequently open to other individuals who are Monastic Sangha residents at the Hartridge Buddhist Monastery by Ordinary Resolution at the Annual General Meeting or Extraordinary General Meeting
New trustees are identified and recruited by the existing trustees and resident monastics working together and formally appointed by resolution of the members.
## **Risk Management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 2
## **REPORT OF THE TRUSTEES CONTINUED**
## **Objectives and Aims**
The Objectives of the Charity are to promote and further the teaching of the Buddha (Buddha Sasana) by:
- providing, maintaining and supporting, in accordance with the principles of the Theravada Vinaya, residential establishments for a monastic sangha of the persons who have undertaken the Rules of training **(Sikkhapada)**
- Supporting lay people in the practice and teachings of the Buddha; and
- Such other means as may from time to time be decided
## **Review of Activities**
The Trust is the succession Trust of the Devon Vihara Trust (Charity no. 289636)
The main financial responsibility of the trust is the development, maintenance and upkeep of Hartridge Buddhist monastery. This continues to attract members of the public of all faiths who are interested to learn about, or deepen their understanding of Buddhism and are able to visit or stay at the monastery.
The monastery is the focal point for an extensive community. It provides spiritual support to and is generously supported by expatriate members of the Thai, Sri Lankan, Cambodian and Lao communities, as well as UK born Buddhists. The annual Kathina and Vesak ceremonies held at the monastery both attract 100-200 visitors.
The monasteries are open to the public on a daily basis and all are welcome to join in the formal meditation and puja activities. Some visitors request to stay for an extended period in order to deepen their practice of the Buddhist religion. Others gain benefit from the peaceful and calm woodland environment where ecological conservation is being undertaken through the contribution of volunteers.
Meditation classes, which are open to all members of the public whatever their faith and personal circumstances, are run on a regular basis. These classes are provided free of charge. Mindfulness meditation and the cultivation of loving kindness are practices with proven therapeutic benefits which have been adopted and adapted by healthcare professionals.
Meditation classes and residential retreats at other locations, as well as public talks and lectures, are given during the year, and these include visits to schools and other organisations.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 3
## **REPORT OF THE TRUSTEES CONTINUED**
## **OBJECTIVES AND ACTIVITIES**
## **ACHIEVEMENT AND PERFORMANCE**
After the monastic winter retreat, which ended at the start of April, the activity on the monastery gradually returned to pre-covid-19 routines. The size of the resident community varied between five and seven, which meant that the monastery was full much of the time. Usually there would be two to four lay guests at any one time.
Meditation workshops were well attended, and consequently extra workshops were held. However Sunday evening talks were generally less well attended than pre-covid. Festival days were well attended, including the annual Kathina festival in October. Several retreats were taught elsewhere, and a successful Thai weekend retreat was held at the monastery. Inter-monastery visits and exchanges resumed, with visits to Harnham, and to and from both Amaravati and Chithurst communities.
Total donations during the year were the highest ever, with a total of £122,394 received. Of this amount £36,600 was towards the construction of new kutis, and spending on the kutis in the year was £35,828. The Trust spent £23,379 on the day-to-day running expenditure of Hartridge, of which £834 was on administration for the independent examiners fees and £3,932 on a varity of sundry capital items.
Unrestricted income was £84,319 of which £5,916 was Gift Aid from HMRC, and £1,607 was payment under the Renewable Heat Incentive scheme for heat generated by the log boiler. A restricted travel fund expended £2,163 on running costs of the car and received £929 leaving a balance of £1,945 at the year end The Welfare fund expended £894 and received £545 leaving a balance of £6,001 at 31st December 2022.
One new kuti was completed during the year, and a second was nearing completion. A PA system was installed in the Dhamma Hall, and the roof of one of the older kutis was replaced with material recycled from buildings demolised at Amaravati monastery.
## **FINANCIAL REVIEW**
## **Reserves and Investment Policy**
The Trust holds a contingency reserve of £15,000, primarily to cover any sudden and maJor fall in voluntary income. This sum represents approximately one year of core expenditure, so it is thought that if a situation arose where either short or long term income seemed in doubt, the reserve would provide a period of between one to three years for the trustees to consider how best to proceed. The reserve was also available as a contingency against cost over-runs during the Dhamma Hall project, as cash flow needed to be carefully considered at various stages. However, by the end of 2019, the Dhamma Hall project had effectively been completed, and there are no immediate large capital projects planned, although there are some tentative ideas for further ahead.
' The Trust s unrestricted cash assets over and above the reserve are designated for future capital projects. Currently these assets are held in a current account as the trustees take a cautious view on riskier investment, interest rates in deposit accounts are exceptionally low, and the sums involved are relatively small.
## **ON BEHALF OF THE BOARD:**
**Trustee: Dr M Mackay.James**
**Date:**
## 25/7/23
Page 4
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
(A Company limited by guarantee)
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HARTRIDGE BUDDHIST MONASTERY TRUST LTD**
I report on the accounts of Hartridge Buddhist Monastery Trust for the year ended 31 December 2022, which are set out on pages 5 to 8.
This report is made solely to the trustees, as a body, in accordance with the regulations made under Section 44 of the Charities Act 1993, as amended by the Charities Act 2006. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees, as a body, for my **work,** for this report, or for the opinions I have formed.
## Respective responsibilities of trustees and examiner
The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible or independent examination it is my responsibility to:
Examine the accounts under section 43 of the Act; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act; and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures
in the accounts, and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would by required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair'' view and the report is limited to those set out in the statement below.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention·
1.) which gives me reasonable cause to believe that in any material respect, the requirements;
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
have not been met: or
2.) to which, in my opinion, attention should be drawn in order to enable a proper understand of the accounts to be reached.
## Paul ~~W K~~[-] ~~atz~~[-] ~~F~~ CCA
ESSELL ACCOUNTANTS, North Shields
Page 5
## **-iARTRIDGE BUDDHIST MONASTERY TRUST**
## **3TATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**NCOME AND ENDOWMENTS FROM**
£
)onations andLegacies
ncome from Investments
**rotalincomeand endowments**
**EXPENDITURE ON**
Expenditure on Charitable activities
**REVALUATION**
**Net Movement**in**Funds**
**Transfer between Funds**
**Total Funds Brought Forward**
**Total Funds Carried Forward**||Unrestricted
Restricted
Total Funds
Funds
Funds
31/12/2022
£
£
£
84,319
38,075
122,394
0
0
0
84,319
38,075
122,394|Unrestricted
Restricted
Total Funds
Funds
Funds
31/12/2022
£
£
£
84,319
38,075
122,394
0
0
0
84,319
38,075
122,394|Total Funds
31/12/2021
£
55,268
0
55,268
23
,
663
0
31,604
0
1,197,409
1,229,013|
|---|---|---|---|---|
||||||
||||(
15
,
506)
38
,
885
23
,
3
7
9||
||||
0
0
0
99,825
(810)
99,015
0
0
0
306,092
922,921
1,229,013||
||||||
||||405
,
917
922
,
110
1
,
328
,
028||
Page6
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2022**
|**FIXED ASSETS**
Fixed Assets(Note3)
**CURRENT ASSETS**
Cash at Bank andinHand
**CREDITORS: AMOUNTS FALLING DUE**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS(Note 5)**
Restricted Funds
Unrestricted Funds
**TOTAL FUNDS**|Unrestricted
Restricted
Funds
£
Funds
£
221,852
910,392
224,030
(27,109)
(1
,
138)
0
222,893
(27,109)|31/12/2022
Total
Funds
£
1,132,244
196,921
(1
,
138)
195,784
1,328,028
922,110
405,917
1
,
328
,
028|31/12/2021
Total
Funds
£
1,096,416
133,734
(1
,
138)
132,596|31/12/2021
Total
Funds
£
1,096,416
133,734
(1
,
138)
132,596|
|---|---|---|---|---|
||||||
||444,745
883,283|||1
,
229
,
013
922,921
306,092|
||||||
|||||1
,
229
,
013|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The Members have not required the charitable company to obtain an audit for its financial statement for the year ended 31 December 2022 in accordable with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for:-
1) ensuring that the Company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006, and
2) preparing financial statements which give a true and fair **view** of the state of affairs of the charitable company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of Section 393 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008)
Approved by the Board
**Dr M** A Mackay-James Trustee
25/7/23
Date
Page 7
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 ACCOUNTING POLICIES**
## **Accounting Convention**
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standards for Smaller entities, the Companies Act 2006 and the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming Resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources Expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible Fixed Assets**
Depreciation is provided at the following annual rates in order to write off assets over its estimated useful life.
- Land and Property - 0% on cost
- Investments - 0% on cost
- Motor Vehicle - 25% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2 TRUSTEES' REMUNERATION AND BENEFITS**
No remunerations or benefits were given during the year ended 31 December 2022.
## **Trustees Expenses**
No expenses were paid during the year.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 8
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
{Continued)
## **3. TANGIBLE FIXED ASSETS**
|
**COST**
As at 31 December 2021
Additionsin the Year
Revaluation in the Year
Disposals inthe Year
As at 31 December 2022
**DEPRECIATION**
As at 31 December 2021
Disposals in the Year
Charge for the Year
As at 31December 2022
**NET BOOK VALUE**
Asat 31 December2022
As at 31 December 2021|Land
&Property
Prop
lmprov
Investment
Motor
Vehicles
Total
£
£
£
£
£
600,000
496,416
0
900
1,097,316
0
35,828
0
0
35,828
0
0
0
0
0
0
0
0
0
0|
|---|---|
||600,000
532,244
0
900
1,133,144|
||0
0
0
900
900
0
0
0
0
0
0
0
0
0
0|
||0
0
0
900
900|
||600,000
532,244
0
0
1,132,244|
||600,000
496,416
0
0
1,096,416|
**4. CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other Creditors
**5.**
**MOVEMENT IN FUNDS**
**Unrestricted Fund**General Fund Fixed
Assets
**Restricted Fund**
Welfare Fund
Travel Fund
Property Improvements
Property Fund
**Revaluation Reserve**
**TOTAL FUNDS**|**2022**
**2021**
£
£
1,138
1,138
As at
31.12.21
£
Net
Transfer
Movement between funds
£
£
As at
3112.22
£
123,068
99,825
0
222,893
183,024
0
0
183,024|
|---|---|
||6,350
(349)
0
6,001
3,179
{1,234)
0
1,945
313,392
772
0
314,164
600,000
0
0
600,000
306,092
99,825
0
405,917|
||922,921
(810)
~~0~~
~~922,110~~
0
0
0
0|
||1,229,013
99,015
0
1,328,028|
Net movement in funds included in the above are as follows:
**Restricted Fund**
|**Unrestricted Fund**
GeneralFund
Property Fund
**Revaluation Reserve**
**TOTAL FUNDS**
Welfare Fund
Travel Fund
Capital Fund|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|
|---|---|---|---|
|||38,075
0
{38,885)
0|(810)
0|
|||122
,
394
(23,379)|99,015|
Page9
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**INCOMING RESOURCES**
**Voluntary Income**
Travel Fund and Welfare Donations
Capital Projects Donations
Gifts and Donations
RenewableHeat Incentive Scheme
Bank Interest Received
**Total incoming resources**
**RESOURCES EXPENDED**
**Costs associated with Charitable Activities**
Administration
Rates and Utilities
Motor and Travel
WelfareCosts
Telephone and Internet
Estate Expenses
Equipment
Accountancy
**Total resources expended**
**Net Surplus**|62
8,193
5,551
1,209
422
7,029
80
834|31/12/2022
£
1,475
36,600
82,712
1,607
0
122,394
23,379
99,015|185
6,593
1,198
1,945
706
9,016
3,192
828|31/12/2021
£
3,862
0
49,754
1,651
0
55,268
23,663|
|---|---|---|---|---|
||||||
|||||31,604|
**This page does not form part of the statutory financial statements**
## HARTRIDGE BUDDHIST MONASTERY TRUST
## **REPORT AND FINANCIAL STATEMENTS**
FOR THE **YEAR ENDED**
**31 DECEMBER 2022**
**REGISTERED COMPANY NUMBER** : **7387479 REGISTERED CHARITY NUMBER** : **1142439**
## Essell
29 Howard Street North Shields Tyne and Wear NE301AR
Tel· 0191 259 2743 Fax· 0191 257 2249 E-mail : info@essell co.uk Ref: ACR/2530
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **CONTENTS**
Report of the Trustees Page 1 - 3 Independent Examiners Report Page 4 Statement of Financial Activities Page5 Balance Sheet Page6 Notes to the Financial Statements Page 7 - 8 Detailed Statement of Financial Activities Page 9
Prepared by Essell Accountants Limited 29 Howard Street North Shields NE30 1AR Tel: 0191 259 2743: Fax 0191 257 2249 E-mail: info@essell.co.uk Ref: ACR/2530
HARTRIDGE BUDDHIST **MONASTERY** TRUST
Page 1
## **REPORT OF THE TRUSTEES**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022 The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in March 2005.
## **REGISTERED OFFICE**
Hartridge Buddhist Monastery, Upottery, Honiton, Devon, EX14 9QE
## **REGISTERED COMPANY NUMBER**
7387479
## **REGISTERED CHARITY NUMBER 1142439**
## **TRUSTEES**
Dr Maxim Alexander Mackay-James Robert Whittle Julian Wall Anne Williams Charles Graves Penelope Wakefield - Pearce Michelle Foster - resigned
## **COMPANY SECRETARY**
Alex C Robinson
## **INDEPENDENT EXAMINER**
Paul W Katz FCCA Essell 29 Howard Street North Shields Tyne and Wear NE30 1AR
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and Appointment of new trustees**
The subscribers to the Memorandum are the first Members of the Charity. Membership is subsequently open to other individuals who are Monastic Sangha residents at the Hartridge Buddhist Monastery by Ordinary Resolution at the Annual General Meeting or Extraordinary General Meeting
New trustees are identified and recruited by the existing trustees and resident monastics working together and formally appointed by resolution of the members.
## **Risk Management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 2
## **REPORT OF THE TRUSTEES CONTINUED**
## **Objectives and Aims**
The Objectives of the Charity are to promote and further the teaching of the Buddha (Buddha Sasana) by:
- providing, maintaining and supporting, in accordance with the principles of the Theravada Vinaya, residential establishments for a monastic sangha of the persons who have undertaken the Rules of training **(Sikkhapada)**
- Supporting lay people in the practice and teachings of the Buddha; and
- Such other means as may from time to time be decided
## **Review of Activities**
The Trust is the succession Trust of the Devon Vihara Trust (Charity no. 289636)
The main financial responsibility of the trust is the development, maintenance and upkeep of Hartridge Buddhist monastery. This continues to attract members of the public of all faiths who are interested to learn about, or deepen their understanding of Buddhism and are able to visit or stay at the monastery.
The monastery is the focal point for an extensive community. It provides spiritual support to and is generously supported by expatriate members of the Thai, Sri Lankan, Cambodian and Lao communities, as well as UK born Buddhists. The annual Kathina and Vesak ceremonies held at the monastery both attract 100-200 visitors.
The monasteries are open to the public on a daily basis and all are welcome to join in the formal meditation and puja activities. Some visitors request to stay for an extended period in order to deepen their practice of the Buddhist religion. Others gain benefit from the peaceful and calm woodland environment where ecological conservation is being undertaken through the contribution of volunteers.
Meditation classes, which are open to all members of the public whatever their faith and personal circumstances, are run on a regular basis. These classes are provided free of charge. Mindfulness meditation and the cultivation of loving kindness are practices with proven therapeutic benefits which have been adopted and adapted by healthcare professionals.
Meditation classes and residential retreats at other locations, as well as public talks and lectures, are given during the year, and these include visits to schools and other organisations.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 3
## **REPORT OF THE TRUSTEES CONTINUED**
## **OBJECTIVES AND ACTIVITIES**
## **ACHIEVEMENT AND PERFORMANCE**
After the monastic winter retreat, which ended at the start of April, the activity on the monastery gradually returned to pre-covid-19 routines. The size of the resident community varied between five and seven, which meant that the monastery was full much of the time. Usually there would be two to four lay guests at any one time.
Meditation workshops were well attended, and consequently extra workshops were held. However Sunday evening talks were generally less well attended than pre-covid. Festival days were well attended, including the annual Kathina festival in October. Several retreats were taught elsewhere, and a successful Thai weekend retreat was held at the monastery. Inter-monastery visits and exchanges resumed, with visits to Harnham, and to and from both Amaravati and Chithurst communities.
Total donations during the year were the highest ever, with a total of £122,394 received. Of this amount £36,600 was towards the construction of new kutis, and spending on the kutis in the year was £35,828. The Trust spent £23,379 on the day-to-day running expenditure of Hartridge, of which £834 was on administration for the independent examiners fees and £3,932 on a varity of sundry capital items.
Unrestricted income was £84,319 of which £5,916 was Gift Aid from HMRC, and £1,607 was payment under the Renewable Heat Incentive scheme for heat generated by the log boiler. A restricted travel fund expended £2,163 on running costs of the car and received £929 leaving a balance of £1,945 at the year end The Welfare fund expended £894 and received £545 leaving a balance of £6,001 at 31st December 2022.
One new kuti was completed during the year, and a second was nearing completion. A PA system was installed in the Dhamma Hall, and the roof of one of the older kutis was replaced with material recycled from buildings demolised at Amaravati monastery.
## **FINANCIAL REVIEW**
## **Reserves and Investment Policy**
The Trust holds a contingency reserve of £15,000, primarily to cover any sudden and maJor fall in voluntary income. This sum represents approximately one year of core expenditure, so it is thought that if a situation arose where either short or long term income seemed in doubt, the reserve would provide a period of between one to three years for the trustees to consider how best to proceed. The reserve was also available as a contingency against cost over-runs during the Dhamma Hall project, as cash flow needed to be carefully considered at various stages. However, by the end of 2019, the Dhamma Hall project had effectively been completed, and there are no immediate large capital projects planned, although there are some tentative ideas for further ahead.
' The Trust s unrestricted cash assets over and above the reserve are designated for future capital projects. Currently these assets are held in a current account as the trustees take a cautious view on riskier investment, interest rates in deposit accounts are exceptionally low, and the sums involved are relatively small.
## **ON BEHALF OF THE BOARD:**
**Trustee: Dr M Mackay.James**
**Date:**
## 25/7/23
Page 4
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
(A Company limited by guarantee)
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HARTRIDGE BUDDHIST MONASTERY TRUST LTD**
I report on the accounts of Hartridge Buddhist Monastery Trust for the year ended 31 December 2022, which are set out on pages 5 to 8.
This report is made solely to the trustees, as a body, in accordance with the regulations made under Section 44 of the Charities Act 1993, as amended by the Charities Act 2006. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees, as a body, for my **work,** for this report, or for the opinions I have formed.
## Respective responsibilities of trustees and examiner
The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible or independent examination it is my responsibility to:
Examine the accounts under section 43 of the Act; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act; and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures
in the accounts, and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would by required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair'' view and the report is limited to those set out in the statement below.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention·
1.) which gives me reasonable cause to believe that in any material respect, the requirements;
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
have not been met: or
2.) to which, in my opinion, attention should be drawn in order to enable a proper understand of the accounts to be reached.
## Paul ~~W K~~[-] ~~atz~~[-] ~~F~~ CCA
ESSELL ACCOUNTANTS, North Shields
Page 5
## **-iARTRIDGE BUDDHIST MONASTERY TRUST**
## **3TATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**NCOME AND ENDOWMENTS FROM**
£
)onations andLegacies
ncome from Investments
**rotalincomeand endowments**
**EXPENDITURE ON**
Expenditure on Charitable activities
**REVALUATION**
**Net Movement**in**Funds**
**Transfer between Funds**
**Total Funds Brought Forward**
**Total Funds Carried Forward**||Unrestricted
Restricted
Total Funds
Funds
Funds
31/12/2022
£
£
£
84,319
38,075
122,394
0
0
0
84,319
38,075
122,394|Unrestricted
Restricted
Total Funds
Funds
Funds
31/12/2022
£
£
£
84,319
38,075
122,394
0
0
0
84,319
38,075
122,394|Total Funds
31/12/2021
£
55,268
0
55,268
23
,
663
0
31,604
0
1,197,409
1,229,013|
|---|---|---|---|---|
||||||
||||(
15
,
506)
38
,
885
23
,
3
7
9||
||||
0
0
0
99,825
(810)
99,015
0
0
0
306,092
922,921
1,229,013||
||||||
||||405
,
917
922
,
110
1
,
328
,
028||
Page6
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2022**
|**FIXED ASSETS**
Fixed Assets(Note3)
**CURRENT ASSETS**
Cash at Bank andinHand
**CREDITORS: AMOUNTS FALLING DUE**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS(Note 5)**
Restricted Funds
Unrestricted Funds
**TOTAL FUNDS**|Unrestricted
Restricted
Funds
£
Funds
£
221,852
910,392
224,030
(27,109)
(1
,
138)
0
222,893
(27,109)|31/12/2022
Total
Funds
£
1,132,244
196,921
(1
,
138)
195,784
1,328,028
922,110
405,917
1
,
328
,
028|31/12/2021
Total
Funds
£
1,096,416
133,734
(1
,
138)
132,596|31/12/2021
Total
Funds
£
1,096,416
133,734
(1
,
138)
132,596|
|---|---|---|---|---|
||||||
||444,745
883,283|||1
,
229
,
013
922,921
306,092|
||||||
|||||1
,
229
,
013|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The Members have not required the charitable company to obtain an audit for its financial statement for the year ended 31 December 2022 in accordable with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for:-
1) ensuring that the Company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006, and
2) preparing financial statements which give a true and fair **view** of the state of affairs of the charitable company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of Section 393 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008)
Approved by the Board
**Dr M** A Mackay-James Trustee
25/7/23
Date
Page 7
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 ACCOUNTING POLICIES**
## **Accounting Convention**
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standards for Smaller entities, the Companies Act 2006 and the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming Resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources Expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible Fixed Assets**
Depreciation is provided at the following annual rates in order to write off assets over its estimated useful life.
- Land and Property - 0% on cost
- Investments - 0% on cost
- Motor Vehicle - 25% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2 TRUSTEES' REMUNERATION AND BENEFITS**
No remunerations or benefits were given during the year ended 31 December 2022.
## **Trustees Expenses**
No expenses were paid during the year.
**HARTRIDGE BUDDHIST MONASTERY TRUST**
Page 8
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
{Continued)
## **3. TANGIBLE FIXED ASSETS**
|
**COST**
As at 31 December 2021
Additionsin the Year
Revaluation in the Year
Disposals inthe Year
As at 31 December 2022
**DEPRECIATION**
As at 31 December 2021
Disposals in the Year
Charge for the Year
As at 31December 2022
**NET BOOK VALUE**
Asat 31 December2022
As at 31 December 2021|Land
&Property
Prop
lmprov
Investment
Motor
Vehicles
Total
£
£
£
£
£
600,000
496,416
0
900
1,097,316
0
35,828
0
0
35,828
0
0
0
0
0
0
0
0
0
0|
|---|---|
||600,000
532,244
0
900
1,133,144|
||0
0
0
900
900
0
0
0
0
0
0
0
0
0
0|
||0
0
0
900
900|
||600,000
532,244
0
0
1,132,244|
||600,000
496,416
0
0
1,096,416|
**4. CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other Creditors
**5.**
**MOVEMENT IN FUNDS**
**Unrestricted Fund**General Fund Fixed
Assets
**Restricted Fund**
Welfare Fund
Travel Fund
Property Improvements
Property Fund
**Revaluation Reserve**
**TOTAL FUNDS**|**2022**
**2021**
£
£
1,138
1,138
As at
31.12.21
£
Net
Transfer
Movement between funds
£
£
As at
3112.22
£
123,068
99,825
0
222,893
183,024
0
0
183,024|
|---|---|
||6,350
(349)
0
6,001
3,179
{1,234)
0
1,945
313,392
772
0
314,164
600,000
0
0
600,000
306,092
99,825
0
405,917|
||922,921
(810)
~~0~~
~~922,110~~
0
0
0
0|
||1,229,013
99,015
0
1,328,028|
Net movement in funds included in the above are as follows:
**Restricted Fund**
|**Unrestricted Fund**
GeneralFund
Property Fund
**Revaluation Reserve**
**TOTAL FUNDS**
Welfare Fund
Travel Fund
Capital Fund|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|Income and
Endowments
£
Expenditure
On
£
Movement
In Funds
£
84,319
15,506
99,825
(349)
(1,234)
772
0
0
0
38,075
0
{38,885)
0
(810)
0
122
,
394
(23,379)
99,015
545
(894)
930
(2,164)
36,600
(35,828)|
|---|---|---|---|
|||38,075
0
{38,885)
0|(810)
0|
|||122
,
394
(23,379)|99,015|
Page9
## **HARTRIDGE BUDDHIST MONASTERY TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**INCOMING RESOURCES**
**Voluntary Income**
Travel Fund and Welfare Donations
Capital Projects Donations
Gifts and Donations
RenewableHeat Incentive Scheme
Bank Interest Received
**Total incoming resources**
**RESOURCES EXPENDED**
**Costs associated with Charitable Activities**
Administration
Rates and Utilities
Motor and Travel
WelfareCosts
Telephone and Internet
Estate Expenses
Equipment
Accountancy
**Total resources expended**
**Net Surplus**|62
8,193
5,551
1,209
422
7,029
80
834|31/12/2022
£
1,475
36,600
82,712
1,607
0
122,394
23,379
99,015|185
6,593
1,198
1,945
706
9,016
3,192
828|31/12/2021
£
3,862
0
49,754
1,651
0
55,268
23,663|
|---|---|---|---|---|
||||||
|||||31,604|
**This page does not form part of the statutory financial statements**