HARTRIDGE BUDDHIST MONASTERY TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REGISTERED COMPANY NUMBER . 7387479 REGISTERED CHARITY NUMBER . 1142439 Essell 29 Howard Str8et North Shields Tyn8 and Wear NE30 1AR T¢l.. 0191259 2743 Fax '. 0191257 2249 E-mail . info essell co.uk Ret. ACR12530
HARTRIDGE BUDDHIST MONASTERY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS Report of the Trustees Page1-3 Independent Examiners Report Page 4 Statement of Financial Activities Page 5 Balance Sheet Page 6 Note5 to the Financial Statements Page7-8 Detsiled Statement of Financial Activities Page 9 Prepared by Essell Accountsnls Limited 29 Howard Street North Shields NE30 1AR Tel.. 0191 259 2743 '. Fax 0191257 2249 E-mail.. info@essell co.uk Ref.. ACR12530
HARTRIDGE BUDDHIST MONASTERY TRUST Page 1 REPORT OF THE TRUSTEES The trustees who are also directors of the charity for the purposes ofthe Companies Act 2006, present thoiT report wth the financial stslements of the charity for the year ended 31 December 2023 The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI AUnting and Reporting by charib.es issued in March 2005. REGISTERED OFFICE Hartndge Buddhist Monastery, Upottery, Honiton, Devon, EX14 9QE REGISTERED COMPANY NUMBER 7387479 REGISTERED CHARITY NUMBER 1142439 TRUSTEES Df Maxim Alexander Mackay-James Robert Whitue Julian Wall Anne Williams Charfe$ Graves P$nelope Wakefièld - Pearce M Foster- res19ned COMPANY SECRETARY Alex C Robinson 114DEPENDENT EXAMINER Paul W Katz FCCA Essell 29 Howard Street North Shields Tyne and Wear NE30 1AR STRUCTURE, GOVERNANCE AND MANAGEMENT Governing docum*nt The charity is controlled by its goveming document, and constitutes a limited comp8ny, limrtgd by guarantee. as dèfined by the Companies Act 2006. R•¢ruhment and Appointm•nt of n•w trustees The subscnbers to the Memorandum are the firsl Members of the Charity. Membership Is subsequently opon to other indwiduals who are Mon8sb"c Sangha residents at the HartTidge Buddhist Monastery by Ordinary Resolution at the Annual General Meeting or Extraordinary General Meeting New Irustees are identified and recruited by the existing tru3tee$ and resident monastics ¥%Y)rking together and fonnally appointed by rèsolution of the members. Rlsk Management The trustees have a dLty to identify and review the risks to which the charity is exposed and to en$ure appropriate controls are in placè to provide rèasonable assurance against frau¢J and error.
HARTRIDGE BUDDHIST MONASTERY TRUST Page 2 REPORT OF THE TRUSTEES CONTINUED Objectlves and Aiffls The Objectives of the Chanty are to promote and further the teaching of the Buddha (Buddha Sasanal by.. providing, maintaining 2nd supporting, in accordance with the principles of the Theravada Vinaya, residential estsblishments for a monastic sangha of the persons who have undertaken the Rules of training Isikkhapadal Supporting lay people in the practice and teachings of the Buddha". and - Such other means as may from time to time be decided Revlew of A¢tlvltles The Trust is the suG¢ession Trust of the Devon Vihara Trust Icharity 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 faith5 who are interested lo learn about. or deepen their understanding of Buddhism and are able to visit or slay al 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 Kalhina and Vesak ceremonies held at the monastery both attract 100-200 visitors. The monasterie5 are open to the public on a daity basis and all are welcome to join in the formal meditation and pula activities. Some visitors request lo slay for an extended period in order to deepen their practice of the Buddhist religion. Olhefs gain benefit Irom 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. Medit31ion classes and residents'al retreats at other locations, as well as public talks and lectures, are given during the year, and these include visits lo schools and other organisalions.
HARTRIDGE BUDDHIST MONASTERY TRUST Page 3 REPORT OF THE TRUSTEES CONTINUED OBJECTIVES AND ACTIVITIES ACHIEVEMENT AND PERFORMANCE The rnonasti¢ communrty at Hartridg8 has increased In svze with the phasing in of three new kutis buitt this year and last. The SIdent community numbered seven to nine, wth a peak for a perrod of ten, which rneant that the monastery was full much of the tsme As usual, the would generally be two to four lay guests at any one time. Medrtation Nsorkshops were s%EII attended, and consequenUy extra workshops were held. F89tNa1 days Ere Istll attended, including a lar9e and suc(xssful Kathina festival in Novembe beld in Chard. Several retreats were taught elsewhere, and another SUCsl Thai weekend retreat was held at the monastery. There were many Inter-monastery visits and ex¢hange5, induding monks coming from America and Amaravati for the three month Rains Retreat, and at other bmes of the year for short or longer stays. Total donation$ during the year were £118,474. Ofthis amount £26.000 was towards the construction of new kutis, Spending on thè kutis in the year was 3.350.67 The Trust spent 9.539 on the day-to-day running expendrtur8 of Hartridge. of which £7099 was for the cnsts of "8n Jutindharo'5 V5Slt to New Z8aland which was sponsor&S by a donor. and £924 was on administration for the independent exarniners f88. UnStriCted incorne was £93.358 olwhich £7,322 wa5 Gift Aid from HMRC, £884 wa8 bank deposit interest. and £1.785 was payment under the Renewable Heat Incentive scheme for heat generated by the log boiler. The restricted travel lund expended £1.579 on running costs of the car. leaving a balance in the fund of £366 al year end. The Welfare fvnd expended £660 leaving a balan of £5,341 at 21 Dember 2023. One new kuti was comwed during the year, and a $8cond which had been stsrted in 2022 Vfds also complebl. The Trust thntffied that onginal Cottage is inereasingly not fit-for-purpose. and ks in need ol Major wort. Architects were ¢ommission8d to conduct a feasibility study Into the options for extendinrenovating or replaring the Cottage. Al the end of the year the trust was about to approach East Devon Distnct Council with a pre-planning application to establish what mNJht be possible The Twst's ex$ fvnds have trKen designatèd for & future Cottage renewal pro FINANCIAL REVIEW Reserv and Investment Pollcy The Trust holds a contingency reservè of £15,(, primarily to cover any sudden and major f811 in voluntary Income This surn represents apprtsximately one year Of core expenditure, so it Is thought that if a situation ar056 where either short or long tem Income seemed In doubt, the reserve would provide a period of between one to the years for the trustees to consider how best to proceed The reserve was also available as a contingency against cost over-runs dunng the Dhamrna Hall project. as cash flow needed to be carefully considered at various Stsges. However, by the en¢J of 2019. the Dhamm8 Hall project had effectively been completed, and the are no immediate large capital proJ8Ct$ planned. although the are some tentative eaS for further ahead. The Tru3fs unrestricted cash asse¢s over and above the rèserve are designated for future capital projects. Currtntly these assets are held In a current aceount as the tru51ees lake a cautious view on nskier Investment, interest rates deposit antS are exceptionally low, and the sums Involved 80 relatively Small. ON BEHALF OF THE BOARD.. Tru•tse: Dr M Mockay-Jam
HARTRIDGE BUDDHIST MONASTERY TRUST IA 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 2023, which are set out on pages 5 to 8. This report is made solely to the trustees, as a k)ody, 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 slate to the charity's tfustees those matters l am required lo slate lo them in an independent examinerfs report and for no other purpose To the fullest extent pemitted by law. I do not accept or assume responsibility lo anyone other than the charrty and the charity's trustees, as a body. for my work, for this report, or for the opinions I have fomied. Page 4 RespectNe responsibilities of trustees and examiner The trustee5 (who are also director5 of the company for the purposes of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43121 of the Charities Act 1993 (the Act) and that an independent examination is needed. Having satisfied rnyseW that the charity 15 not subject to an audit under company18w and is eligible or independent examination it is my responsibility lo.. Examine the accounts under section 43 of the Act., lo follow the pr¢xedures laid down in the General Diredions given by the Charity Commission under section 4317llbl of the Act", and to stale whether particular matters have come to my attention. Basis of independent examinerfs statement My examination was carried out in accordance wth the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison ol the acGounts presented wth those records. 11 also includes eonsideralion of any unusual items or disc105ures in the accounts. and seeks explanations from you as Iruslees conceming any such mallers. The procedures undertaken do not provide all the evidence that would by required in an audit, and consequently no opinion is given as lo whether the accounts present a, true and fail, view and the report Is limited lo those sel out in the statement below. Independont examinerfs Statement In nnectiOn wsth 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 wtlh section 386 of the Companies Act 2006,. and lo prepare accounts which accord with the accounting records and to comply with the accounting requirements of sectton 396 of the Companie$ Act 2006 and with the methods and principles ol the Statement of Recommended Practice." Accounting and Reporting by Charitie5', have not been met," or 2.1 lo which, in my opinion. attantion should be drawn in order to enable a propor understand of the acUnts to be fe ched. PaL¢I W Katz FCCA ESSELL ACCOUNTANTS, North Shields Dale.. F)(k(l*
HARTRIDGE BUDDHIST MONASTERY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENOED 310ECEMBER 2023 Unrestricted Restricted Total Funds Funds Funds 3111212023 Page 5 Total Funds 3111212022 Notes INCOME AND ENDOWMENTS FROM Donats'ons and Legacies Income from Investment$ Total income and endowments 92,474 26,000 118,474 884 119,358 122,394 93,358 26,000 122,394 EXPENDITURE ON Expenditure on Charitable activrties 27,300 2,239 29,53g 23,379 REVALUATION Net Mov¢ment in Funds Transfer betweon Funds Totsl Funds Brought Forward Total Funds Carried FopNard 66.058 135,829} 405,917 436,146 23,761 35,829 922.110 1.328,028 981,700 1.417,846 89,819 99,015 1,229.013 1,328.028
HARTRIDGE BUDDHIST MONASTERY TRUST Page 6 8ALANCE SHEET AS AT 31 DECEMBER 2023 31112r2023 Restricted Total Funds Funds 3111212022 Total Funds Unrestiicied Funds FIXED ASSETS Fixed Assets (Note 3} 183.023 972,571 1.155,595 1,132.244 CURRENT ASSETS Debtors (Note 41 Cash al 8ank and in Hand 250,287 257.386 9,129 9.129 259,415 266,514 196,921 1&S.921 CREDITORS . AMOUNTS FALLING DUE 4.263 4.263 1,138 NET CURRENT ASSETS 253,123 9.129 262.252 195.784 NET ASSETS 436.147 981.700 1,417.846 1.328,028 FUNDS (Notg 51 Restricted Funds Unrestricted Funds 981.700 436.146 922,110 405,918 TOTAL FUNDS 1,417.846 1,328,028 The d)aritable company is entitled to exemption from audit under Section 477 ofthe Ci)mpanies Act 2006 for the year ended 31 Decernber 2023. The Members have not required the charitable Company to obtain Bn audrt for ts finanrial statement for the year ended 31 December 2023 in accordable with Sectv)n 476 of the Companies Act 2006_ The Trustees acknovAedge their responsibilities for:_ 11 ensuring that the Company keeps acuunling records which comply th Section 386 and 387 of the Companies Acl 20(, and 21 preparing financial staternents whith gNe a tnje 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 defiat for the finan&al year in accordance with the requirements of Section 393 and 395 and which otherwise comply with thè requifements of the Companies Act 20[ relaling to financial statements, so far as applicable to the chaniable company. These financial statements have been prepared in 8¢cordanco wth th8 Special provisions of Part 15 01 the Compantes Act 2LNJ6 relating to small charitable wmpanies and with the Finanal Reporting Standard for Smaller Entities (effective April 2008) Approved by the Board AAIL/,,I - Dr M A M8ckay-James Trustee Date
HARTRIDGE BUODHIST MONASTERY TRUST NOTES TO THE FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING poLlEs Page 7 Ac¢ounting Convention The financial statements have b88n prepared under the historical GO$t convention and in accofdanTr wth the Finanoal Reporting Standards for Smaller entrtvas. the Companies Act 2006 and the Ststern8nt of Recommended Practrce. Accounting and Reporbng by ¢h8ritses. Intoming Re60urcos All incoming re50ur¢es are included cn the Ststoment of Financial Activities when the ch8nty is kg81ty entitd io the income and the amount can be quantffi8d ykn reasonab acGuracy. Re8ourc•8 Expendod Expenditure Is accounted fcr on an accruals basi$ and ha5 been cla55rfd under headings that aggre9aie all cost related to the ¢ateg0ry. Wher8 costs cannot be direcdy attributed to particular headings they havo been allocated lo aEtwities on a basB consistent wilh fv use of resources. Tangiblo FbXOd Auets Depr8cration is provided at the follo7ng annual rates in order to write off 85sets over its estimated useful1rf8. - Land and Pr(wty - 0% on Gosl - Inv8strnents - 0% on Cost - Motor Vehic - 25% on cost Taxaon The ¢harity is exernpt Irorn corp¢rats"on tax on rts ch8ritabkp aclivrtw. Fund Accoyntlng Unre5tncted funds can be used in ac¢ord8nce wth the CharFIab obje¢twes al the discretion of the trustees. Rostrict funds can only be used for particular re5tri¢tod purpcses wthin the objects of the charty. R8StrithK)ns arise %Yh8n specrfied by the donor or when funds are Taised for particular restrKted purposes. Further explanation of the nare and purpose of 8ach fvnd is induded in the notes to the financwl statements. 2 TRUSTEES. REMUNEIiATION AND BENEFITS Nc remun8ratx)ns or b8nefits were given during the yèar end8d 31 DerArnber 2023. Twu•t•es Expen No eyponses w8ra paid during the year. 3. TANGIBLe FIXED ASSETS Land Prop Motor & prOty lrnprov Inve5trnenl Vehick8 Totsl GOST As al 31 Dec8rnber 2022 ALition5 in tt)e Year Revaluation in the Year Dispos815 in the Year As a131 December 2023 600,orK) 532,244 23.351 gj) 1.133,144 23,351 900 0 1,155,595 600.000 555.5 DEPRECIATION A8 al 31 Decernber 2022 Di5posa15 in the Year Charge for the Year As at 31 Decembtrr 2023 NET BOOK VALUE As at 31 Dernber 2023 600.000 555,595 0 1.155.595 As at 31 D¢cernr 2022 600,000 532.244 0 1.132.244
HARTRIDGE 8UDDHIST MONASTERY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Iconlinuedl Page 8 4. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other Debtors 7,099 CREDITORS . AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other Creditors 4.263 1,138 MOVEMENT IN FUNDS As8t 31.12.22 Net Transfer Movement beeen funds Asal 31.12.23 Unrestricted Fund General Fund Fixed Assets 222,893 183,024 405,917 66,058 135,8291 253,122 183,024 436, 146 66,058 135,8291 Rostrictod Fund Welfare Fund Travel Fund Propety Irnpfovements Propety Fund 6,001 1,945 314,164 600,000 922,110 1660) 11,5791 26,000 5,341 366 375,993 600.000 981,700 35,829 23,761 35,829 Revaluatlon R•1¥9 TOTAL FUNDS 1,328,028 89,819 1,417,846 Net movement in funds included in the above afe as follows". Income and Expenditure Endowments On Movement In Funds Unrestricted Fund General Fund 93,358 127,3001 66,058 Restrlcted Fund Welfare Fund Travel Fund Capitsl Fund Property Fund 16601 11.5791 16601 11,5791 26,000 26,000 26,000 {2,239) 23,761 Revaluation Re$er¥e TOTAL FUNDS 119,358 29.539 89,819
HARTRIDGE BUDDHIST MONASTERY TRUST Page 9 DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 3111212023 3111212022 INCOMING RESOURCES Voluntsry Income Travel Fund and Welfare Donations Capital Projects Donations Gifts and Donation5 Renewable Heal Incentive Scheme Bank Interest Received 517 26,000 90,172 1.785 1,47S 36.600 82,712 1.607 Totsl Incomlng rèsources 119.358 122,394 RESOURCES EXPENDED Costs a880clalod wlth Charitable Acllvities Administration Rale$ and Utilities Motor and Travel Welfare Costs Telephone and Intemet Estate Expense5 Equipment Accountancy 111 8,802 9,709 1.175 474 8,196 148 924 62 8.193 5,551 1,209 422 7,029 80 834 Total resourc expgnded 29,539 23,379 Ngt Surplus 89,819 99.015 Thls page dog8 not fom part of the statutory financlal statements