HARTRIDGE BUDDHIST MONASTERY TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 REGISTERED COMPANY NUMBER 7387479 REGISTERED CHARITY NUMBER . 1142439 Essell 29 How8rd Street North shId$ Tyne and Weal NE30 1AR Tel." 0191 259 2743 Fax". 0191 257 2249 E-mail.. Info essell co.uk Ref.. ACR12530
HARTRIDGE BUDDHIST MONASTERY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS Report of the Trustees Page1-3 Independent Examiners Report Page 4 Statement of Financial Activitses Page 5 Balance Sheet Page 6 Notes to the Financial Statements Page7-8 Detailed Statement of Financi81 Activities Page 9 Ppared by Essell Accountsnls Limilgd 29 Howard Street North Shields NE30 1AR Tel.. 0191259 2743 . Fax 0191257 2249 E-mail.. info@essell co uk Ref. ACR12530
HARTRIDGE BUDDHIST MONASTERY TRUST Page I REPORTOF THE TRUSTEES The trustees who are also directors of the charty for the purposes of the Companies Act 20, present their report with the financial Statements of the charity for the yeaf ended 31 December 2024 The trustee5 have adopted the provisions of the Stslement of Recommended Practice ISORP) A¢counling and Repo"n9 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 Ma¢kay-James Robert Whittle Julian Wall Anne Williams Charles Graves Pgn$lope Wakefield - Pear¢e COMPANY SECRETARY ex C Robinsors INDEPENDENT EXAMINER Paul W Katz FCCA Essell 29 Howard Street North Shields Tyne and Wear NE30 IAR STRUCTURE. GOVERNANCE AND MANAGEMENT Govornlng document The ¢harity is controlled by its goveming document. and constitutes a limited company, limrted by guarantee, as defined by the Companies Act 2006. Recruitment and Appointment of now tn$ The subscribtsrs to the Memorandum are thè first Members of the Charity. Membership is subsequently open to other individuals who are Monasb"c Sangha residents al th• Hartridge Buddhist Monastery by Ordinary Resolution al the Annual General Meeting or Extraordinary General meeb.ng New trustee5 are identffied and recruited by the existing trustees ani r8slOerst monasttcs working together and form81ty appointed by resoluts'on of the member$. Rl8k Management The trustees have a duty to idenbfy and rèview the risks to which the ¢harty is exposed and to ensure appropriate controls are in place Its provide reasonable assurance against fraud and erior.
HARTRIDGE BUDDHIST MONASTERY TRUST REPORT OF THE TRUSTEES CONTINUED Page 2 Objectlves and Alms The Objectives of the Charity are lo promote and further the teaching of the Buddha IBuddha Sasanal by.. providing, maintaining and supporting, in accordance with the principles of the Theravada Vinaya residential estsblishments for a monastic sangha of the persons who have undertaken the Rubs of training {Sikkhapadal SupF)Orting lay people in the pra¢lice and teachings of the Buddha,. and - Such other means as may from lime lo lime be decided Rovlew of Activities The Trust is the succession Trust of the Devon Vihara Trust Icharity no. 2896361 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 lo learn about, or deepen their understanding of Buddhism and are able to visit or stsy al the monastery. The monastery is the focal point for an extensive community. It provides spiritual support lo and is generously supported by expatriate members of the Thai, Sri Lankan, Cambodian and Lao communities. a5 well as UK- born Buddhists. The annual Kalhina and Vesak ceremonies held al the monastery both attract lo200 visitors. The monasteries are open to the public on a daily basis and all are welcome lo join in the formal meditation and pula activitie5. Some visitors request lo slay for an extended period in order to deepen their practice of the Buddhist religion. Others gain benefit frorn the peaceful and calm woodland environment where ecological conservab'on is Ing undertaken through the contribution of volunteers. Meditstion classes, which are open lo all members of the public whatever their lailh and personal circumstances, a run on a regular basi5. 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. Meditstion classes and residential retalS al other locations. as well as publi¢ talks and lectures, are given during the year, and these includa visits to schools and other organisalions.
REPORT OF THE TRUSTEES CONTINUED Pago 3 OBJECTIVES AND ACTMTIES ACHIEVEMENT APID PERFORMANCE wdènt community numbered six to eight. ¥bich mtr8nt that the mnastery w88 fvll much of the tim•. As Lrsual, there w)uld generally be to four lay guests at any one time. Maditation )rkshops. now evèry threa eks, Pre wall attendad. Festival days w811 attend&l. induding another large and $ucKessful Kathina festival in October held in Chard. Several retreats le tsught 61sgwth&r8. and Iwo Thai retreats wtsre h&ld at th& monastery. Thefg were many inter-monastgry visits and &x¢hangg8, induding visits to our sister monasteries in Ilaly, Switzerlan¢J, Norway and Portugal. Total donations during th8 year weig £90,079. The Trust spant £23,456 on tha daY-tdaY njnning expanditure of Hartridge. of which £924 was on admini$tr8tion for the indapèndent e¥amingr8 fe8 and £380 on sundry capital items. Unrèstricted income was £106,547 of which £9,702 vrds Gift Aid from HMRC, £7118 was bank deposit interast. and £2,148 was payments under the Rgnewable Heat In¢8ntive scheme lor heat generat8d by thè bg boll8r. The rèstricted travel fund expendè<J £366 on running costs of Ihe car, and tha fund was wound up during the year. Th was no W8Mare fund expenditure in the year, but a new Long-Tarm We118re Fund. Specrfically for care costs for eldedy or ill iesidant monks, stsrted wth a donation or £2,500. Finishing touches added to the kutis built in 2022 end 2023. ¢031ing £2.321. The Tnjst carried out further exOratOry on the Odle Cott8ge proigct th Group Emmett t)esign AhIteCts and other consultants, spending £8.667 in the year. Having obtaingd PTe-p18nning advl¢e from EDDC during the year. al year end the trust was preparing to approach East Dovon District Coundl with a anrnlng appllcation for a raplacem8nt building. Th8 Trust's &xce$s funds continue to b8 dgs(qnat8d for a future Cottage rènewal project. Lale in the year the monastery was appn)aehed by a nelghtK)ur interested in discussing the possibility of sellSng a sm811 piece of adFacent 0dland. The Trust Idèntified Mr donors interested to suppc<t a wtential Wfchase, and as of earty 2025 discuss4on wlh the neightrA)ur was ongoing. FINANCIAL REVIEW Res•Tr•s and Inv•stm•nt Poll¢y Th8 Trnst h(Ads a conttngency resgrve of £15.000, primarily to cover any 8udden and major fall in voluntary incomtr. This stjm represents aPprO[natelY of )re eynditurg. 80 rt is thought that rf a situation arose where ether short or long tem income Seem in (*)ubl, the reservg wr)uld PTovid& 8 period of betW8èn one to three years for the trustees to consider how best to proceed. Thè reserve vrds also available Bs g contingency against cost over-runs ¢Juring the Dhamma Hall Project and wll be a useful contingency for the proposed Odlg Cottage replacomont project. The remainder of the Trusts unrestrtcted cash assets, over and above the reserve, a designated for the Odle Cottage replacement project. M05t of these funds are held in Int&rèst bearing bank deposit accounts. The Trust a180 hdds current aeeounts for immediate running Sts. ON BEHALF OF THE BOARD: Tru8t••: Dr M mackaYaMe
HARTRIDGE BUDDHIST MONASTERY TRUST IA Company limited by guarantee} Page 4 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 2024. which are sel out on pages 5 10 8. This report is made solely lo the trustees, as a body. in accordance with the wulalions made under Section 44 of the Charrties Act 1993, as amended by the Charities Act 2006. My work has been undertaken so that I might slate lo the charity's Iruslees those matters l am required lo slate lo 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 lo anyone other than the charity and the charity's Iruslees, as a body, for my work, for this report, or for the opinions I have fomed. Respective responsibilities of trustees and examiner The trustees (who are also directors of the Company for Ihe purposes of company lawl are responsible for the preparation of the accounts. The trustees consider that an 8udil 15 not requir8d for this year under section 43{21 of the Charities Act 1993 Ilhe Acll 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 Ael,. lo follow the procedures laid down in the General Directions given by the Charity Commission under Section 43171{bl of the Act." and to slate whether particular matters have me to my attention. Basis of independent examinels ststement My examination was carried out in accor¢Jance with the General Directions given by the Charity Commission. An examination includes a review of the aecounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual ilerns 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 lo whether the accounts present a "true and fail, view and the report is limited lo those sel out in the slalemenl below. Independent examinerfs statement In connection with my examination, no matter has come to my attention.. 1.1 which gives me reasonable uSe to believe that in any material respect, the fequiremenls.. - to keep accounting r8cords in accordance with section 386 of the Companies Act 2006,. and to prepare accounts which accord with the accounting records and lo comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Stslement of Recommended Practce.. Accounting and Reporting by Charities.. have not been met", or 2.1 lo which, in my opinion. attention should be drawn in order lo enable a propèr understand of the ac¢ounl8 lo be reached. Paul W Katz FCCA ESSELL ACCOUNTANTS, North Shields Dale.. Qo I£lL5
HARTRIDGE BUDDHIST MONASTERY TRUST Page S STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unreslricled Reslricled Total Funds Funds Funds 3111212024 Total Funds 3111212023 Notes INCOME AND ENDOWMENTS FROM Donations and Legaeie$ Income from Investments Total income and endowments 99,429 7,118 106,547 2,500 101.929 7,118 109,047 118,474 2,500 119,358 EXPENDITURE ON Expenditure on Charitable activities 23,090 366 23,456 29,539 REVALUATION Net Movement in Funds Transfvr between Funds Total Funds Brought Fop•vard Total Funds Carrled Forward 83,457 110,9881 436,146 508,616 2,134 10,988 981.700 1.417,846 994.822 1.503,437 85,591 89,819 1,328,028 1,417,846
HARTRIDGE BUDDHIST MONASTERY TRUST Page 6 BALANCE SHEET AS AT 31 DECEMBER 2024 31112r2024 Restrided Total Fvnd8 Funds 31112r2023 Total Funds Unrestricted FLtnd$ FIXED ASSETS Fixed Assets (Note 31 217,363 949,219 1,166.582 1.155.695 CURRENT ASSETS Debtor8 (Note 4 Cash at Bank and in Hand 7,099 259,415 266,514 328.830 328.830 8,763 8.763 337,593 337,593 CREDITORS .. AMOUNTS FALLING DUE 738 738 4.263 NET CURRENT ASSETS 328,092 8,763 336,855 262,252 NET ASSETS 545,455 957,982 1.503,437 1.417,848 FUNDS (Note 51 Restricted Funds Unrestrietèij Funds 994.622 508,618 981.700 436.146 TOTAL FUNDS 1,503,437 1,417,846 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 20 for the year endgd 31 Decembei 2024. The Members have not required the charitable company to obtain an audit fof Its financial statement for the year ended 31 December 2024 in accordable with Section 476 ofthe Companies Ad 2. The Trustees acknowledge their responsibilities for :_ 11 ensuring that the Company keeps accounting records which cornply with Section 386 and 387 of the Companiès Act 20(. and 21 preparing financial slalements which give a true and fair view ol the state ol 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 thè requirements of Section 393 and 395 and which otherwise comply wrth the requirements of the Companies Act 20LK relating to finanoal statements. so far as applicable to the charitable company. These financial statements have been prepared in accordance **th the Special provisions of Part 15 of thè Cornp8nies Act 2(x relating to small charitable companies and Mth the Financial Reptrrting Standard for Smaller Entiti95 (effective April 20081 Approved by the Board Dr M A Mackay-James Twstee Date
HARTRIDGE BUDDHIST PIIONASTERY TRUST Page 7 NOTES TO THE FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 DE¢EM8ER 2024 1 ACCOUNTING POLICIES A¢¢ounting CorNentlon The financial ststements have been prepared under the historical cost convention and In accordan wrth the Financial Reporting Standards for Smaller enlilies, the Companie5 Act 2006 and the Statement of Recommend8d Practice. AUntsng and Reporting by charit5. In¢omlng R88our¢•8 All Incoming r8sources are Ind8 on the Ststemant of Financial ActNi15 when the chanty Is Ègalty entilbd to the Income and the amount can be quants"rd with asunabk accuracy. Resources Exp•nd•d Expenditure Is accounted for on an accruaL8 basis and has been ¢la$sifBd und8r heading5 that aggregate all c051 related to the category. whe G05ts cannot be dI¢Y attributed to particular headings they have been allocated to aclivitr8s on a ba51s consistent with the use of r•sourc88. Tangible Flxod A880ts DepciatiOn is provided at the following annual rates in ord8r lo write off assets ov8r its estimated useful lrfo. - Lano and Propety - 0% on cost Investments - 0% on cost Motor Vehide - 25% on cost Taxation The charty is exempl from corporation tax on its Charitab activitie8. Fund Accourrtlng Unrestricted funds can b& used in accordan with the charitable objecbves at th• di5cr8ts.on of the trustees. Restrictetl funds can onty be used fcr particular restricted purposes within tt)e objects of the charity. R8Strictions artse when SpefIed by the donor or when funds are raised for particu18r re$thcled purposes. Further expl8nabon of the nature and pu058 of each fvnd ts induded in the notes to the financial slalem$nts. 2 TRUSTeES' REMUNERATION AND BENEFITS No remunerations or benefi15 were given during the y8ar ended 31 Dember 2024. Tru8t888 Expon805 No expenses were paid dunng the year. 3. TANGIBLE FIXED ASSETS Land Prop Motor & Propety Improv Investment Vehick Total COST A5 8131 Dectsmber 2023 AdditK)ns in the Year Revaluatn in the Year Disposals In the Year As al 31 Decembèr 2024 8(K).000 555,595 10.988 0 1.155,595 10,988 600,000 566.582 0 1.166,582 DEPRECtATION As at 31 Decèmber 2023 Dispo$al$ In the Year Charge for the Ye8r A8 ai 31 Decernr 2024 NET BOOK VALUE As at 31 Eec8mber 2024 600,000 566.582 0 1.166,582 As at 31 Dmber 2023 800.000 555.595 1.155.595
HARTRIDGE BUDDHIST MONASTERY TRUST Page 8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 DECEMBER 2024 {Continuedl DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other Debtors 7,099 CREDITORS , AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other Creditors 738 4,263 MOVEMENT IN FUNDS Asat 31.12.23 Net Transfer Movement betsveen funds Asat 31.12 24 Unrestricted Fund General Fund Fixed Assets 253,122 183.024 436.146 83,457 110,9881 325,591 183,024 508,616 83,457 110,988} Restricted Fund Welfare Fund Long Term Welfare Fund Travel Fund Property Improvements Property Fund 5,341 5,341 2,500 2,500 13661 366 375,993 600,000 981,700 10,988 386,981 600.000 994.822 2,134 10,988 Revaluation Reserve TOTAL FUNDS 1,417,846 85,591 1.503,437 Nel movement in funds included in the above are as follows". Income and Expenditure Endowments On Movement In Funds Unrestrlcted Fund General Fund 1C6.547 123,0901 83.457 Restrlcted Fund Welfare Fund Long Term Welfare Fund Travel Fund Propety Improvements Propety Fund 2,500 2,500 13661 13661 2,500 13661 2.134 Revaluatlon Reser¥e TOTAL FUNDS 109.047 23,456 85.591
HARTRIDGE BUDDHIST MONASTERY TRUST Page 9 DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 3111212024 3111212023 INCOMING RESOURCES Voluntsry Income Welfare Donations Capital Projects Donats'ons Gifts and Donations Gift Aid Renewable Heal Incentive Scheme Bank Interest Received 2.500 517 26.000 90,172 87,579 9,702 2,148 7,118 1,785 884 Total Incoming resou8$ 109,047 119,358 RESOURCES EXPENDED Costs a880¢iated wlth Charitablo Activiti05 Administration Rates and Utilities Motor and Travel Welfare Costs Telephone and Internel Estate Expenses Equipment and Sundry Accountancy 351 10.948 2,149 4,156 461 4,088 380 924 111 8,802 9,709 1,175 474 8,196 148 924 Total re8ourcos expended 23.456 29.539 Net Surplu8 85,591 89,819 This page does not forni part of the statutory financial statement8