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2021-06-30-accounts

Hampshire Accountants 1 Canada Square London E14 5AA Pembroke House 8 St Christopher’s Place hampshire.accountants Farnborough GU14 ONH hello@hampshire.accountants +44 (0) 1252 279 882 +44 (0) 20 7097 5150

Mr Harka Gurung Buddhist Community Centre UK (BCC UK) 8 High Street Aldershot Hampshire GU11 1TW

22 December 2021

Dear Harka ,

Accounts for Period ended 30/06/2021

Please find attached final accounts for Buddhist Community Centre UK (BCC UK) for the period ended 30/06/2021 [including filleted/abbreviated accounts if appropriate].

Please review the attached carefully and if you are happy that the accounts can be approved please print out a set of each of the attached documents, obtain appropriate signatures at the foot of each Balance Sheet [and Directors Report, if relevant] and return the signed documents to this office.

Please do not hesitate to contact us if you have any queries.

Yours sincerely,

Hampshire Accountants

hampshire.accountants | hello@hampshire.accountants

Buddhist Community Centre UK (BCC UK)

Charity No. 1145982

Trustees' Report and Unaudited Accounts

30 June 2021

Buddhist Community Centre UK (BCC UK) Contents

Pages
Trustees' Annual Report 2
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 6 to 12
Detailed Statement of Financial Activities 13 to

Page 1

Buddhist Community Centre UK (BCC UK) Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the year ended 30 June 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1145982

Principal Office

8 High Street Aldershot Hampshire GU11 1TW Address Line 5

Trustees

The following Trustees served during the year:

G. Gurung K. Gurung K. Sherpa D.B. Tamang K.B. Thapa

Accountants

Hampshire Accountants Pembroke House 8 St Christopher's Place Farnborough Hampshire GU14 0NH

Bankers

HSBC & Natwest Address Line 5

Solicitors

N C Brothers & Co Address Line 5

Investment Advisors

Address Line 5

OBJECTIVES AND ACTIVITIES

The charity's objectives are:

ACHIEVEMENTS AND PERFORMANCE

Page 2

Buddhist Community Centre UK (BCC UK)

Trustees Annual Report

Buddhist Community Centre UK (BCCUK) is a registered charity (No. 1145982) and is set up under it's constitution and rules.

The members of the management council, who are also the trustees, who served during the year are set out on this page. The management members are elected by the membership in a General Meeting. The Council meet on a regular basis to manage the affairs of the charity and to formulate policy. The charity's administrator manages the day to day operations of the charity in liaison with the Treasure and President.

PLANS FOR FUTURE PERIODS

A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...

A large charity's report should explain the trustees perspective of the future direction of the charity...

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

K. Sherpa Trustee 07 December 2021

Page 3

Buddhist Community Centre UK (BCC UK) Independent Examiners Report

Independent Examiner's Report to the trustees of Buddhist Community Centre UK (BCC UK)

I report to the trustees on my examination of the accounts of Buddhist Community Centre UK (BCC UK) for the year ended 30 June 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Bhai Raja Thapa FCCA Chartered Certified Accountants Hampshire Accountants Pembroke House 8 St Christopher's Place Farnborough Hampshire GU14 0NH 07 December 2021

Page 4

Buddhist Community Centre UK (BCC UK) Statement of Financial Activities

for the year ended 30 June 2021

Notes
Income and endowments
from:
Donations and legacies
3
Other
4
Total
Expenditure on:
Raising funds
5
Other
6
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricte
d funds
2021
£
184,146
17,912		 Total funds
2021
£
184,146
17,912		 Total funds
2020
£
134,647
9,598
202,058
43,097
75,275		 202,058
43,097
75,275		 144,245
8,307
124,334
118,372
-		 118,372
-		 132,641
-
83,686
-		 83,686
-		 11,604
-
83,686 83,686 11,604
83,686
1,280,400		 83,686
1,280,400		 11,604
1,268,796
1,364,086 1,364,086 1,280,400

Page 5

Buddhist Community Centre UK (BCC UK) Balance Sheet at 30 June 2021

Charity No. 1145982
Fixed assets
Tangible assets
8
Current assets
Stocks
9
Cash at bank and in hand
Creditors:Amount falling due within one year
10
Net current liabilities
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
11
Unrestricted funds
11
General funds
Reserves
11
Total funds		 2021
£
1,480,609
1,480,609
97,080
84,818
181,898
(298,421)
(116,523)
1,364,086
1,364,086
1,364,086
1,364,086
1,364,086
1,364,086		 2020
£
1,479,897
1,479,897
-
136,436
136,436
(335,933)
(199,497)
1,280,400
1,280,400
1,280,400
1,280,400
1,280,400
1,280,400

Approved by the trustees on 07 December 2021

And signed on their behalf by:

K. Sherpa Trustee 07 December 2021

Page 6

Buddhist Community Centre UK (BCC UK) Notes to the Accounts

for the year ended 30 June 2021

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Buddhist Community Centre UK (BCC UK) Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Buddhist Community Centre UK (BCC UK) Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Buddhist Community Centre UK (BCC UK) Notes to the Accounts

2 Statement of Financial Activities - prior year

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Other
Total
Expenditure on:
Raising funds
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
4
Other income		 Unrestricted
£
182,116
2,030
184,146
Unrestricted
£
17,907
5
-
17,912		 Unrestricted
funds
2020
£
134,647
9,598
144,245
8,307
124,334
132,641
11,604
11,604
11,604
1,268,796
1,280,400
Total
2021
£
182,116
2,030
184,146
Total
2021
£
17,907
5
-
17,912		 Total funds
2020
£
134,647
9,598
144,245
8,307
124,334
132,641
11,604
11,604
11,604
1,268,796
1,280,400
Total
2020
£
124,329
10,318
134,647
Total
2020
£
10,000
11
(413)
9,598

Page 10

Buddhist Community Centre UK (BCC UK) Notes to the Accounts

5 Expenditure on raising funds

Fundraising trading costs
6
Other expenditure
Bank loan and overdraft
interest payable
Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
7
Staff costs
Salaries and wages
No employee received emoluments in excess
8
Tangible fixed assets
Cost or revaluation
At 1 July 2020
Additions
At 30 June 2021
Net book values
At 30 June 2021
At 30 June 2020
9
Stocks
Raw materials and consumables		 of £60,000.
£
1,402,904
-
1,402,904
1,402,904
1,402,904		 Unrestricted
£
43,097
43,097
Unrestricted
£
-
11,691
2,035
24,814
32,979
3,756
75,275
11,691
11,691
£
-
712
712
712
-
2021
£
97,080
97,080		 Total
2021
£
43,097
43,097
Total
2021
£
-
11,691
2,035
24,814
32,979
3,756
75,275
£
76,993
-
76,993
76,993
76,993		 Total
2020
£
8,307
8,307
Total
2020
£
9,568
-
-
41,864
66,393
6,509
124,334
-
-
£
1,479,897
712
1,480,609
1,480,609
1,479,897
2020
£
-
-

Page 11

Buddhist Community Centre UK (BCC UK) Notes to the Accounts

10 Creditors:

10 Creditors:
amounts falling due within one year
Bank loans and overdrafts
Other taxes and social security
Other creditors
Accruals and deferred income		 2021
£
309,991
(1,864)
(10,376)
670
298,421		 2020
£
344,492
-
(10,240)
1,681
335,933
11 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
12 Analysis of net assets between funds
Fixed assets
Net current assets
13 Reconciliation of net debt
Cash and cash equivalents
Bank loans
Net debt		 At 1 July
2020
1,280,400
1,280,400		 Incoming
resources
(including
other
gains/losses
)
£
202,058
202,058
At 1 July
2020
£		 Resources
expended
£
(118,372)
(118,372)
Unrestricted
funds
£
1,480,609
(116,523)
1,364,086
Cash flows
£		 At 30 June
2021
£
1,364,086
1,364,086
Total
£
1,480,609
(116,523)
1,364,086
At 30 June
2021
£
136,436 (51,618) 84,818
136,436
(344,492)		 (51,618) 84,818
(309,991)
34,501
(344,492)
(208,056)		 34,501
(17,117)		 (309,991)
(225,173)

Page 12

Buddhist Community Centre UK (BCC UK) Statement of Cash flows

for the year ended 30 June 2021

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Dividends, interest and rents from investments
Increase in stocks
(Decrease)/Increase in trade and other payables
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Dividends, interest and rents from investments
Net cash from/(used in) investing activities
Cash flows from financing activities
Repayment of borrowings
Net cash (used in)/from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2021
£
83,686
(17,912)
(97,080)
(3,011)
(34,317)
(712)
17,912
17,200
(34,501)
(34,501)
(51,618)
136,436
84,818		 2020
£
11,604
(9,598)
-
1
2,007
(207,635)
9,598
(198,037)
168,564
168,564
(27,466)
163,902
136,436
Components of cash and cash equivalents
Cash and bank balances 84,818 136,436
84,818 136,436

Page 13

Buddhist Community Centre UK (BCC UK) Detailed Statement of Financial Activities

for the year ended 30 June 2021

Income and endowments from:
Donations and legacies
Other
Total income and endowments
Expenditure on:
Costs of other trading activities
Total of expenditure on raising
funds
Other expenditure
Bank loan and overdraft interest
payable
Employee costs
Salaries/wages
Motor and travel costs
Travel and subsistence
Premises costs
Rates
Light, heat and power
Premises cleaning
Other premises costs
General administrative costs,
including depreciation and
amortisation
Bank charges
Equipment leasing and hire
charges		 Unrestricted
funds
2021
£
182,116
2,030
184,146
17,907
5
-
17,912
202,058
43,097
43,097
43,097
-
-
11,691
11,691
2,035
2,035
1,722
21,017
2,075
-
24,814
-
-		 Total funds
2021
£
182,116
2,030
184,146
17,907
5
-
17,912
202,058
43,097
43,097
43,097
-
-
11,691
11,691
2,035
2,035
1,722
21,017
2,075
-
24,814
-
-		 Total funds
2020
£
124,329
10,318
134,647
10,000
11
(413)
9,598
144,245
8,307
8,307
8,307
9,568
9,568
-
-
-
-
1,637
25,049
2,934
12,244
41,864
336
3,830

Page 14

Buddhist Community Centre UK (BCC UK) Detailed Statement of Financial Activities

Building repairs and
maintenance
General insurances
Information and publications
Postage and couriers
Stationery and printing
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 27,821
2,262
1,585
-
-
1,311
32,979
960
2,796
3,756
75,275
118,372
-
83,686
83,686
-
83,686
1,280,400
1,364,086		 27,821
2,262
1,585
-
-
1,311
32,979
960
2,796
3,756
75,275
118,372
-
83,686
83,686
-
83,686
1,280,400
1,364,086		 56,217
-
-
2,304
1,075
2,631
66,393
750
5,759
6,509
124,334
132,641
-
11,604
11,604
-
11,604
1,268,796
1,280,400

Page 15