Buddhist Community Centre UK (BCC UK)
Charity No. 1145982
Trustees' Report and Unaudited Accounts
30 June 2022
Buddhist Community Centre UK (BCC UK) Contents
| Pages | |
|---|---|
| 2 | |
| Trustees' Annual Report | |
| 4 | |
| Independent Examiner's Report | |
| 5 | |
| Statement of Financial Activities | |
| 6 | |
| Balance Sheet | |
| 7 | |
| Notes to the Accounts | |
| Detailed Statement of Financial Activities | 15 |
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 2022.
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:
K. Gauchan G. Gurung K. Gurung K. Rijal K. Sherpa D.B. Tamang K.B. Thapa Accountants
Hampshire Accountants Limited 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:
-
To advance the Buddhist religion in the United Kingdom for the benefit of the public through the holding of prayer meetings, lectures, public celevration of religious festivals, producing and/or distributing literature to enlighten others about the Mahayana principles of the Buddhist religion.
-
To relieve persons who are in conditions of poverty, sickness and distress or who are otherwise in need.
Page 2
Buddhist Community Centre UK (BCC UK) Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
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.
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 12 April 2023
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 financial statements of Buddhist Community Centre UK (BCC UK) for the year ended 30 June 2022 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 financial statements 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 financial statements 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Dev Gurung ACCA Chartered Certified Accountant Hampshire Accountants Limited Pembroke House 8 St Christopher's Place Farnborough Hampshire GU14 0NH 12 April 2023
Page 4
Buddhist Community Centre UK (BCC UK) Statement of Financial Activities for the year ended 30 June 2022
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other 5 Total Expenditure on: Raising funds 6 Other 7 Total Net gains on investments Net income 8 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 |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2022 | 2022 | 2021 | ||
| £ | £ | £ | ||
| 149,580 | 149,580 | 182,116 | ||
| - | - | 2,035 | ||
| 5,023 | 5,023 | 17,907 | ||
| 154,603 | 154,603 | 202,058 | ||
| 13,421 | 13,421 | 43,097 | ||
| 120,422 | 120,422 | 75,275 | ||
| 133,843 | 133,843 | 118,372 | ||
| - | - | - | ||
| 20,760 | 20,760 | 83,686 | ||
| - | - | - | ||
| 20,760 | 20,760 | 83,686 | ||
| 20,760 | 20,760 | 83,686 | ||
| 1,233,420 | 1,233,420 | 1,280,400 | ||
| 1,254,180 | 1,254,180 | 1,364,086 | ||
Page 5
Buddhist Community Centre UK (BCC UK) Balance Sheet
at 30 June 2022
| Charity No. 1145982 Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors:Amount falling due within one year 13 Net current liabilities Total assets less current liabilities Creditors:Amounts falling due after more than one year 14 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 15 Unrestricted funds 15 General funds Reserves 15 Total funds Approved by the trustees on 12 April 2023 |
2022 £ 1,450,365 1,450,365 22,000 10,000 64,627 96,627 (280,687) (184,060) 1,266,305 (12,125) 1,254,180 1,254,180 1,254,180 1,254,180 1,254,180 |
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 | ||
And signed on their behalf by:
K. Sherpa Trustee 12 April 2023
Page 6
Buddhist Community Centre UK (BCC UK) Notes to the Accounts
for the year ended 30 June 2022
- 1 Accounting policies
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 Income from charitable activities 5 Other income |
Unrestricted £ 149,580 149,580 Unrestricted £ 5,023 5,023 |
Unrestricted funds 2021 £ 184,146 17,912 202,058 43,097 75,275 118,372 83,686 83,686 83,686 1,280,400 1,364,086 Total 2022 £ 149,580 149,580 Total 2022 £ - - Total 2022 £ 5,023 5,023 |
Total funds 2021 £ 184,146 17,912 |
| 202,058 43,097 75,275 |
|||
| 118,372 | |||
| 83,686 | |||
| 83,686 | |||
| 83,686 1,280,400 |
|||
| 1,364,086 | |||
| Total 2021 £ 182,116 |
|||
| 182,116 | |||
| Total 2021 £ 2,035 |
|||
| 2,035 | |||
| Total 2021 £ 17,907 |
|||
| 17,907 |
Page 10
Buddhist Community Centre UK (BCC UK) Notes to the Accounts
6 Expenditure on raising funds
| Fundraising trading costs 7 Other expenditure Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages Pension costs No employee received emoluments in excess of £60,000. |
Unrestricted £ 13,421 13,421 Unrestricted £ 21,768 9,535 23,560 40,408 19,233 5,918 120,422 2022 £ 40,408 2022 21,725 43 21,768 |
Total 2022 £ 13,421 13,421 Total 2022 £ 21,768 9,535 23,560 40,408 19,233 5,918 120,422 |
Total 2021 £ 43,097 |
|---|---|---|---|
| 43,097 | |||
| Total 2021 £ 11,691 2,035 24,814 - 32,979 3,756 |
|||
| 75,275 | |||
| 2021 £ - 2021 11,691 - |
|||
| 11,691 | |||
Page 11
Buddhist Community Centre UK (BCC UK) Notes to the Accounts
10 Tangible fixed assets
| £ Cost or revaluation At 1 July 2021 1,402,904 Additions 2,987 At 30 June 2022 1,405,891 Depreciation and impairment Depreciation charge for the year 23,432 At 30 June 2022 23,432 Net book values At 30 June 2022 1,382,459 At 30 June 2021 1,402,904 11 Stocks Raw materials and consumables 12 Debtors Other debtors 13 Creditors: amounts falling due within one year Bank loans and overdrafts Other taxes and social security Other creditors Accruals 14 Creditors: amounts falling due after more than one year Other loans |
£ 1,402,904 2,987 1,405,891 23,432 23,432 1,382,459 1,402,904 |
£ 5,492 - 5,492 1,098 1,098 4,394 5,492 2022 £ 22,000 22,000 2022 £ 10,000 10,000 2022 £ 277,719 320 1,688 |
£ 76,993 2,397 79,390 15,878 15,878 63,512 76,993 |
£ 1,485,389 5,384 |
|---|---|---|---|---|
| 1,490,773 | ||||
| 40,408 | ||||
| 40,408 | ||||
| 1,450,365 | ||||
| 1,485,389 | ||||
| 2021 £ 97,080 |
||||
| 97,080 | ||||
| 2021 £ - |
||||
| - | ||||
| 2021 £ 309,991 (1,864) (10,376) |
||||
| 960 | 670 | |||
| 280,687 2022 £ 12,125 12,125 |
298,421 | |||
| 2021 £ - |
||||
| - |
Page 12
Buddhist Community Centre UK (BCC UK) Notes to the Accounts
15 Movement in funds
| Restricted funds: Unrestricted funds: General funds Total funds 16 Analysis of net assets between funds Fixed assets Net current assets Creditors due in more than one year and provisions 17 Reconciliation of net debt Cash and cash equivalents |
At 1 July 2021 1,233,420 1,233,420 |
Incoming resources (including other gains/losses ) £ 154,603 154,603 At 1 July 2021 £ |
Resources expended £ (133,843) (133,843) Unrestricted funds £ 1,450,365 (184,060) (12,125) 1,254,180 Cash flows £ |
At 30 June 2022 £ 1,254,180 |
|---|---|---|---|---|
| 1,254,180 | ||||
| Total £ 1,450,365 (184,060) (12,125) |
||||
| 1,254,180 | ||||
| At 30 June 2022 £ |
||||
| 84,818 | (20,191) | 64,627 | ||
| 84,818 - (309,991) |
(20,191) | 64,627 (12,125) (277,719) |
||
| Borrowings | (12,125) | |||
| Bank loans | 32,272 | |||
| Net debt | (309,991) (225,173) |
20,147 (44) |
(289,844) | |
| (225,217) | ||||
Page 13
Buddhist Community Centre UK (BCC UK) Notes to the Accounts
18 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2022 | 2022 | 2021 | 2021 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| The pension cost charge to the charity | ||||
| amounted to: | 43 | - |
Page 14
Buddhist Community Centre UK (BCC UK) Statement of Cash flows for the year ended 30 June 2022
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease/(Increase) in stocks Increase in trade and other receivables Increase/(Decrease) in trade and other payables Net cash provided by/(used in) operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash (used in)/from investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net increase/(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 |
2022 £ 20,760 40,408 (5,023) 75,080 (10,000) 14,538 135,763 (5,384) 5,023 (361) (20,147) (20,147) 115,255 84,818 200,073 |
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 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 64,627 | 84,818 |
| 64,627 | 84,818 |
Page 15
Buddhist Community Centre UK (BCC UK) Detailed Statement of Financial Activities
for the year ended 30 June 2022
| Income and endowments from: Donations and legacies Charitable activities Other Total income and endowments Expenditure on: Costs of other trading activities Total of expenditure on raising funds Employee costs Salaries/wages Pension costs Motor and travel costs Vehicles - General costs Travel and subsistence Premises costs Rates Light, heat and power Premises cleaning Other premises costs General administrative costs, including depreciation and amortisation Depreciation of land and buildings Bank charges Equipment expensed |
Unrestricted funds 2022 £ 149,580 149,580 - - 5,023 5,023 154,603 13,421 13,421 13,421 21,725 43 21,768 1,964 7,571 9,535 445 18,052 3,087 1,976 23,560 40,408 1,110 2,907 |
Total funds 2022 £ 149,580 |
Total funds 2021 £ 182,116 |
|---|---|---|---|
| 149,580 | 182,116 | ||
| - | 2,035 | ||
| - | 2,035 | ||
| 5,023 | 17,907 | ||
| 5,023 | 17,907 | ||
| 154,603 13,421 |
202,058 43,097 |
||
| 13,421 | 43,097 | ||
| 13,421 21,725 43 |
43,097 11,691 - |
||
| 21,768 | 11,691 | ||
| 1,964 7,571 |
- 2,035 |
||
| 9,535 | 2,035 | ||
| 445 18,052 3,087 1,976 |
1,722 21,017 2,075 - |
||
| 23,560 | 24,814 | ||
| 40,408 1,110 2,907 |
- - - |
Page 16
Buddhist Community Centre UK (BCC UK) Detailed Statement of Financial Activities
| Equipment repairs and maintenance General insurances Information and publications Stationery and printing Sundry expenses 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 |
2,559 - - 5,427 6,105 1,125 59,641 960 4,958 5,918 120,422 133,843 - 20,760 20,760 - 20,760 1,233,420 1,254,180 |
2,559 - - 5,427 6,105 1,125 |
27,821 2,262 1,585 - - 1,311 |
|---|---|---|---|
| 59,641 | 32,979 | ||
| 960 4,958 |
960 2,796 |
||
| 5,918 | 3,756 | ||
| 120,422 | 75,275 | ||
| 133,843 - |
118,372 - |
||
| 20,760 | 83,686 | ||
| 20,760 - |
83,686 - |
||
| 20,760 | 83,686 | ||
| 1,233,420 | 1,280,400 | ||
| 1,254,180 | 1,364,086 |
Page 17