CHARITY REGISTRATION NUMBER: 114B728 Wat Phra Singh UK Unaudited Financial Statements 5 April 2024 AGP Chartered Accountants Sycamore House Sutton Quays Business Park Sutton Weaver Runcorn Cheshire WA7 3EH
Wat Phra Singh UK Financial Staternents Year ended 5 April 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities 13 14 Statement of financial position 15 Notes to the financial statements 16
Wat Phra Singh UK Trustees, Annual Report Year ended 5 April 2024 The Iruslees present their annual report and unaudited financial slalernenls for the year ended S April 2024 and Confirm they comply wth the Charf(ies Act 2011, the Trust Deed, and the Charities SORP 2005. Wat Phra Singh UK was registered as a charity on 24 August 2012 and consequently this is txjr twelfth year of reporting. Reference and adminlstrative details Registered charity name Wal Phra Singh UK Charlty r8glstration number 1148728 Pr5nclpal offl¢e and place of worship 88 High Street Run¢orn Cheshire WA7 1JH The trustees Phramaha Thirasak Duangsiri Mr Anthony Collacoll Mrs Kwanjil Collacott Mrs Varaporn Vaughan Mr Derek Skinner Mr Stephen Irvine Treasurer and Principle Admlnlstrator Mr. Anthony Collacott Temple secrgtary Ms. Jenny Stubbs Independent examiner Rachel Palombella FCA AGP Chartered Accountants Sycamore House Sullon Quays Business Park Sullon Weaver Runcorn Cheshire WA7 3EH Bank NaMesl 146 Widnes Road dnes Cheshire WA7 6BB
Wat Phra Singh UK Trustees, Annual Report (conlinuedl Year ended 5 Aprll 2024 structure, governan¢e and management Wal Phra Sin9h UK 15 constiluled as a ¢harilable trust regi51er&d wrth the Charities Cornrni5sion in August 2012 under charity number 1148728 and governed by a Trust Deed. There have been no ¢hanges lo the Trust Deed In thi5 reporting year. Organlsatlonal structure Under the hierarchical nature of Thai Buddhist temples Wal Phra Singh UK reports in Thailand lo our parent temple. Wal Phra Singh In Chiang Mai. In the UKwe report lo Wat Buddhapadipa in Vwmbledon, and we are an a¢b"ve member ofThe Council of Thai Buddhist Monks in the UK. The charity itself is governed by the Iruslees and adminislgred by the Monks and Temple trustees. All oles are entirely voluntary. No payments are made lo Monks, Trustees or volunteers, and no claims have been made for any reimbursement of expenses. Recruitment and appointhient of twstees Recruilmenl of Truslees will be agreed in a meeting of the Monks and Trustees Re¢rLJilment to date has always been from within our long-leim supporters, and this is likely lo continue. Likewise, any resignations will be discussed and approved at the meetings. To comply wlh Charities Commission rules we will Inlom the Charities Commission of any changes lo the Board of Trustees Furthermore, lo comply with Natwest Bank requirements the Trust Deed will be updated and a Deed ol Appointment and Resignation will be provided lo Natwesl. Thore has been no change to our Trustees during this reporting year. The Role of Temple Secretary Ms. Jenny StLJbbs has continued her works lo support the temple throughout the year providing invaluable services with hei adminislralion. communication and co-ordination skills. UKVI Representatives Mrs. Trff Mccready continues to carry out the role of UKVI Level l User assisting Tony Collacoll in his roles as Aulhorising Officer and Level 1 User. Inductlon and training of trustees Wal Phra Singh UK recognises the legal and moral resp(4)sibililies undertaken by Trustees and has provided each Trustee with a Copy of the Charities Commission Guidance for Trustees document reference CC3.
Wat Phra Singh UK Trustees. Annual Report (continued) Year ended 5 April 2024 Risk management Wal Phra Singh UK recognises that there are iisks associated with providing a charitable publlc seNce and seeks to understand and mitigate thes& risks as far as possible. Our goal is lo have all risk areas covered by a standard sel of policies, and have so far completed the followng.. Lone Worker Policy CRB Policy Child Protection and Safeguarding Policy Adult Protection and Safeguarding Policy Data Piotection Policy Diversity and Equalities Policy Environment81 Policy Health and Safety Policy UK Border Agency Compliance Pdicy Driving Policy Temple Committee Policy User Group Letting Policy Complaints Procedure Fire Risk Assessment Temple House Manual Oblectives and activities Our charitable objects as sel out in our Trust Deed are.. To promote Theravada Buddhism and Thai Culture into the multifaith and mulli-elhnic eommunilies of the Northwest of England and beyond by establishing a permanent Temple where the Dhamma Gan be studied and taught. and where meditab'on can be pracli¢ed. and to provide support lo Buddhist Monks and Nuns in their studies and pastoral dulles. Through this Temple we will establish our place in Ihewidercommunity and be active in mullifalth forums as we seek lo improve diversity awareness whilst engaging with the mullicullural community. Public b8n8flt The Trustees have complied wlh the duty in Section 1715} of the 2011 Charities Act to have due regard lo the guidance given by the Charity Commission on public benefit. strategios Our strategies for achieving our charitable objects are.. Establish and maintain a Buddhist Temple and Meditation Centre in the Northwest of England Host up lo five resident monks Engage wlh the local multi-faith 2nd Multi-ethn groups through established routes such as Hallon Borough Council, Voluntary Organisations and charities with sifflilar goals and objeclives Establish links with the wider multicultural community
Wat Phra Singh UK Trustees, Annual Report (continuedl Year ended 5 Aprll 2024 The Abbot and Monks Vval Phra Singh UK has been granted a UK Border Agency SMS Licence allowing the charity to supporl visa applications under Tier 2 Ministers of Religion and Tier 5 Religious Work&rs. As declared lo the UKBA Inow known as UKVII al the time of our SMS Licence application it is the temple'5 Intention lo host five resident monks, and in line with UKVI requirements we maintain robust records of monks, travel. We continue lo have concems about UKM policies relating to the following p(inls'. The English language critèria for Tier 2 Ministers of Religion rèmains al B2 which is extremely difficult for Thai Monks. The 12 month cooling off period for Tier 5 Religious Workers meaning Ihal a monk leaving the UK al the end of a two year Tier 5 visa cannot relum for 12 months. We have previously raised our concerns in writing with the Home Secretary and the Minister for Immigolion but the replies received gave no indication of any planned changes lo UK government immigration policy. We continue lo provide professional English language luilion for all our monks, and indebted to OLJr supporters who continue lo fund this. In this reporting year the following monks arrived I departed.. 17 May 2023". Phra Hannarong Phra Thawalchai (Than Gail (Than Arnl arrived on a Tier 2 vis8 arrived on a Ti&r 5 visa 14 Nov 2023.. Phra Nunlanal Phra Ammarin Phra W511 (Than Janel (Than Amml (Than Got) departed al the end of his Tier 5 visa departed al the end ot his Tier 5 visa departed al the end of his Tier 5 visa 17 Dec 2023.. Phrakru Thirasak Phra Bodinaek Phra Aphirat (Than Tl IThan Ben) IThan Ooml arrived on a Tier 5 visa arrived on a Tier 5 visa arrived on a Tier 5 visa To date Than Gai is the only monk who has passed his English B2 exam. Key events in our reportlng year We held numerous events IhrDughDUt the year In line with the Buddhist monastic calendar including Magha Pula. Asalha Pula, Vesakha Pula, Phansa or Buddhist Lent and Kalhina. We also celebrated Songkran (Thai and Lao New Yearl. The Temple's Anniversary, and Loy Kralhong. This year's Kathina c&remony was led by Kiang and Martin, and we offer our sincere thanks for their support on this auspicious cLcasion.
Wat Phra Singh UK Trustees. Annual Report (contsnu Year ended 5 Aprll 2024 Temple property The charity relalns ownership of the temple property al 88 High Street, Runcorn. Cheshire. This LRrge freehold building is perfect lor our requirements and we make full use of the extensive facilities. The charity owns the freehold outright. Property maintenance I rgpalrs The temple property is almost 200 years old and is kept good condition through a rigorous programme ol inspection and planned or reactive maintenance. A monthly Routine Maintenance Schedule has been adopted and a hard copy is posted on the temple noliceboard. This is our eleventh year of iefuibishmen15 and repairs. Significant expenditures undertaken during this reporting period are.. Cost Heading Replacement of 22 No windows (Grant funded) Replacement of 10 No windows (Self funded) Replacement of 4 No external doors (Grant fLJndedl Car park upgrade and drains IPart Grant funded) Approx Cost £14,679 £5.286 £8,500 £56,389. "£2,000 retention held pending Building Control approval The bulk of the redecorating, refurbishment and repair works at the temple are carried out by volunteers and we therefore onty pay for materials and essential subconlracls. Temple Utilities Our four-year fixed energy contract came lo an end in December 2023 and we therefore faced significant increases in gas and electricity costs. We have taken many actions lo reduce our energy ctsnsumplion in the last twelve months, bul we are sbll forecasting an increase in gas and electricity costs of around 800A. On 29 Jan 24 we had a Smart Meter fitted lo the electricity supply lo enable more accurate readings. Unfortunately. there have been many issues with this, and we made a Fomial Complaint lo our energy supplier, TG&P. This remains unresolved al lime of writing_
Wat Phra Singh UK Trustees. Annual Report fcontlnue Year ended 5 April 2024 New Temple hall project Vlfilh the ever-increasing construction costs lor the new hall the Trustees look the decision lo split the project into two Phases, and approved the go ahead for Phase 1. This phase includes the exlttnsion lo the temple car park and the re-routing ol the main drains beneath the car park. This has a number of advantages, by making a significant start il se¢ures planning consent. and Il addresses some of the unknowns below ground thereby making il easier lo finalise scope and costs for Phase 2 which will be the new hall conslruclion. Quotes for Phase 1 were sought and we selected Dunkil Developments. They commenced works on 20 June 23 and Phase 1 was completed on 25 Ocl 23. Dunkil Developmen15 are still requ1red to gain HBC Building Control consenl for the drainage modifications, so we have applied a relenlion of £2,000 to their final costs. This will be paid lo Dunkil On they gain 5ign-off from HBC Building Control. The Trustees agreed lo concentrate on the Peace Garden pmject which needs completing ahead of a planned ¢emonY on 23 June 24. Once this is complete we will then review the costs for the new hall conslruclion. Halton Borough Council have awarded us £80.000 as a Town Improvemenl Granl made available through the Northern Powerhouse funding scheme. We agreed with HBC that the completed Phase 1 works represented 10Q/o of th¢ new hall project, and we therefore applied for and recVed £8,000 of the grant. We would like to record here our thank5 to Halt(x) Borough Council for their valuable support. Our main costs a5stscialed wlh the new hall project during this year a_. 1. Slruclural and Civil design changes 2. Ar¢hile¢l's lees - stage payment 3. Archaeological Watching Brièf 4. Dunkil Developments Phase 1 works 5. Confined Spac& Entry subconlraclor £2,400 £7,200 £810 £54,389 £810 The ownership of the 3 Metre strip of land running the length of the temple Gar park lo the North of the low brick wall remain5 unresoA ved. Our application lo Land Registry was not accepted as the evidence provided by our solicitor was not continuDUS. We believe that the risk is negligible and that we could apply for ownership from 2025. 1115 recognised that this project is an extremely ambitious undertaking, and the Trustees wll exercise prudence throughout. As this financial year comes lo an end we are conscious of the ¢hallenges everyone is facing, not least financial hardships through the current cost ol living cnsis. We will continue lo cost engineer the project as much as possible, and seek ¢ompetitive quotations. However, we will not commence the main body of the works until rt is prudent lo do so bearing in mind financial conditions. We will also ¢ontinue to assess other Sources ol funding, in particular grants towards Capital projects.
Wat Phra Singh UK Trustees, Annual Report(contsnued) Year ended 5 April 2024 Peace Garden With the rew seven year. renewable lease signed on 5 Dec 22 we began lo seek competillve lenders for the construction ofthe Peace Gard&n, and chose Dunkil Developments whowere known to us having completed the new hall Phase 1 works. They commenced construction on 6 Feb 24, and the works are continuing. The central feature of the Peace Garden 15 a 6M tall Chedi. or Stupa, that has been designed by the monks al our parent temple, Vval Phra Singh, Chiang Mai, Thailand. One of the supp¢yters there has offered lo fund the Casting of the Chedi. and we understand that the value of this is around B2.SM 1-£55kl. We would like lo record here our sin¢ere gratitude for his incredible generosity. We have been allocated a grant towards the Peace Garden of £19.000 from Hallon Borough Council's Town Improvement Plan that is funded by the Northern Powerhouse initiative, and a further £32,000 from the Veolia Environmental Trust funding programme Ipart of this £32k was received in the reporting yearl. The outstanding grant funding wll be claimed on completion of the Pe8ce Garden woiks {forecasl late May 241 The Peace Garden will be a publicly accessible place for rest and quite reflection, and is our gift lo the people ol Runeorn who have been so welcoming. Use of volunteers The temple is fortunate lo have a large number of volunteers wlh a wide range of skills and ablities who are happy to help wlh temple works and event management. 11 is most encouraging that volunteers come not only from within the BLJddhisl community but from local residents. other faiths and also from community groups. The Trustees would like ID pass on our humble thanks to all volunteers for their valuable assistance. Communications and the use of social medla The Trustees of Wal Phra Singh UK recognise the importance of communicating our activities to awider audience. We have engaged widely with so¢ial media by publishing a website and Facebook presewe, both in Thai and in English. Facebook particularly is proving lo be an invaluable tool for cOmmunaling our events and reporting all aelivilies, and we nDW have many thousands of followers worldwde. Our temple and the main a¢livilies have b&en widely reported on radio, TV and in the press, both regionally in the UK and in Thailand. We areworking closely with Vi-vid, a Manchester based marketing agency appointed by Hallon Borough Council lo promote the changes happening in Runcorn. In February we hosted a visit lo the temple by Susan Nickson, the script writer of a TV programme that lealured the Waterloo Hotel before we converted il into a Buddhist Ternple. Susan was most complimentary of the changes that we had made, and the air of calmness and serenity inside the temple. Her visit was widely reported in the regi(al press. Religious activities Wlh monks in residence we are normally able lo meet the religious needs of the community by offering daily ¢hanting and meditation practice5 al the temple, and by visiting the homes and businesses of our supporters Each day our supporters generou51y offer lunch lo the monks before noon and partake in the food offering ceremony. Following lunch the monks offer Dhamma talks. All religious activities are cpen lo everyone regardless of faiths gr beliefs.
Wat Phra Singh UK Trustees. Annual Report (¢Onlinued) Year ended 5 April 2024 Retreats We offer regular weekend meditation retreats al the temple where participants can live a simple life of meditation and relle¢lion. These relreats are free and open lo everyone. The events are posted on our Facebook page. or can be arranged with our monks. Chantlng and Meditation practice Meditation practice is a fundamental part of Buddhism and we are pleased to offer facilities for this. The temple piovidtts a large open plan function room that is sel aside for meditation and quiet reflection where we offer free meditalion classes that are open lo all We offer Guided Meditation Classes every Saturday from 14.00 to 15'.00 and these are attended by those new to meditation and those mor¢ experienced practitioners. As part of the monks, daily rituals they perfomi Ihar own chanting and meditation twice daily from C6'.00 10 07.'30 and again from 18'.00 to 19'.30. These sessions are open lo everyone. eilhei lo participate or lo just simply observe, and we are delighted lo see so many local residents allend regulady. Other user groups The temple is pleased lo be able to offer our facilities to other like-minded groups, and has developed policy lo manage this. In Ihe Buddhist spirit of Dana, or generosily, we make no charge for th& use of OLJr facilities. Counselling and bereavement support As a religious organisalion we re¢ognise that our monks will be called upon by the community lo offer counselling in diffi'¢ull times. Wat Phra Singh UK undertakes this SUPPDrt with sympathy and respect, and is happy lo work with professional service providers whenever appropriate. INe have engaged wilh NHS mental health professionals and with Hallon Borough Council to explore how w& can help the cornmunty furtt)er. Our monks have been invited lo Gounsel individuals and groups. Interfalth dlalogue Enhanang interfaith dialogue is one of the main objectives of Wat Phra Singh UK, and we are pleased to be able to provide a facility within the new temple where interfaith groups are able lo meel. We are working closely wlh Hallon Borough Council Faith and Diversity officers to ensure Ihat we integrate fully with the wider commLJnity, and now that we are fully established in Runcorn we continue lo seek lo e51abli5h links with all other locally represented faiths and beliets as we look to participate in inlerfailh dialogue. Supporting other temples Vval Phra Singh UK was the eVenth Thai Buddhlsl temple lo establish in the UK, and we are delighted lo be able lo share our experience of founding a new temple lo help others. Throughout the year we have advised and worked closely with Mor$ and lay supporters ol other temples as they work towards their establishment.
Wat Phra Singh UK Trustees, Annual Report (contsnued) Year ended 5 April 2024 Community engagement Following the establishment of the temple in Runcorn in January 2013 we have recelved treMeou$ support, not only from within Buddhist groups bul also from within the local community. We have developed strong links with Hallon Borough Council and have allended many of their voluntary sector events As we become more established we are receiving interest from many diverse local individuals and groups including ieligious and secular organisalions, health and wellbeing inilialive5 and individuals who are both familiar with Buddhism or who are new lo the faith and may wish lo explore further. We welcome all wilhoul exclusion. Our temple is open lo welcome groups with an interest in Buddhism or who are simply curious lo know more about what we do in the community. Our temple is registered wth Halton Borough Council as a Survivor Reception Cenlie as part of the Council's Emergency Resilience Planning Operations. This facility wll be further enhanced once the new temple hall is completed. The temple is located al the heart of Halton Borough Council's regeneration plans, and work conh.nues on the Slalion Quarter ProjeGt. These ambilious plans are transforming the area around the temple, and wll be the cataly51 to allow work lo start on the plans to reopen the Runcorn Locks Resloralion Project which wi15 see the reconnection ol the Bridgewater Canal with The Manchester Ship Canal. Runcom Town Deal Board The Runcorn Town Deal Board was sel up by Halton Borough Council lo administer the distribution of the £23.6M funding made available through the governments Levelling Up Fund Northern Powerhouse initiative. Wat Phra Singh UK is a beneficiary of this funding having been granted £80,000 towards the new hall project, and £19,000 towards the Peace Garden. In May 23 we were contacted by the Chair of the Board asking il we would consider sitting on the Board, and we were delighted lo accept this honour. Tony Collacoll now represents the temple al the Board meetings which are responsible for monitoring the agreed Town Deal projects. and for ensuring full compliance with government guidelines. The Board is made ijp of Council officers. MP'S, Business Leaders, Charity Trustees elc. and meets bi-monthly. Memberships Wal Phra Singh UK continues lo be a member of the follovAng'. The Council of Thai Buddhist Monks In the UK Network of Buddhi51 Organisations Hallon and Sl Helens Voluntary and Community Organisalion Halton and Sl Helens Faith Forum
Wat Phra Singh UK Trustees. Annual Report (continued) Year ended S April 2024 Financial review In the year ended 05 April 2024 the charity's incoming resource5 exceeded ils outgoing resources by £8,376 leaving the reserves in surplus by £395,31K all of which are unreslricled funds. Principal funding sources In the Buddhist spirit tsf generosity our charity is supported solely by voluntary charitable donations. We encourage donors lo use Dur envelope system that records whether or not a donation qualifies for Gift Aid. We use an online database called Fund Filer lo record each Individual donation and use this for our twice-yearly Gift Aid application. We regularly ask our supporters lo review their lax status and lo advise us of any changes lo ensure that we remain fully compliant with HMRC Gift Aid rules. We hav9 provided the flIlty for our supporters lo donate by Standing Order should they ehoose to, and have designed and printed Gift envelopes which are GDPR compllanl. Our websiltt includes a facility for donations lo be made. Glft Ald Wat Phra Singh UK is very appreciative of the continuing Gift Aid scheme by the UK government. To ensure our compliance with the rules and regulation5 covering this we use an ortrline database servi provided by Fund Filer. This allows us lo record all donations, whether rnade under Gift Aid or nol. We submit two Gift Ad applications per year, and thi5 year our applications were approved without question by HMRC. Wlh our history of fully compliant Gift Aid applications we are able lo claim under the new Gift Aid Small Donations Scheme {GASDSI. The Gift Ak1 sums rec&ved in this financial year were.. 1 6Sept23 2. 13 March 24 £ 7,695.38 £ 7.381.21 These sums are paid directly into the ch8rlty bank account by HMRC. Financial control and reporting Wat Phra Singh UK remains commitled to a policy of robust financial wnlrol and fully transparent reporting. We currently have over 2,600 registered supporters, and all donations are recorded in Fund Filer which calculates Gift ld. Each fflonlh we carry out a trial balance using the bank statement and enler all transactions into a Financial Summary statement showing opening and ¢losing bank balance5 together wth all donations and ¥Mlhdrawals. This 15 placed on the temple noticeboard and copies posted in our website and on Facebook. Many of our supporters ¢omment Ihat they really appreciate this open, transparent approach lo declaring our finances. We engag& the services ofAGP Ltd, Chartered Accountsnls, lo carry out our Independent Examination of accounts as required by the Charities Commission. 10
Wat Phra Singh UK Trustees, Annual Report f¢ontsnuedJ Year ended S April 2024 Financial strategy and review All revenue and expenditure is recorded in a spreadsheet that has been approved for use by our Accountants. The spreadsheet, together with all other electronic data. a backed-up remotely. The Trustees will manage finances in a piudent manner. To this end r( has been agreed th81 there are to be three key reserve figures for the bank balance". Minimum of£50k- Trustees and Committee members take actions lo reduce costs and inaSe revenue. Minimum of £25k- Tiuslee5 and Committee members stop all non-essential spend Minimum of £20k- Trustees consider other funding sources These figures are the same a5 previous years and represent a prudent approach given the challenges brought about by the current financial climate. The Trustees consider these reserve levels to be prudent and commensurate wlh our charitable objectives. The reserves are held lo ensure that we have adequate resour¢es lo respond lo unexpected expenses. We will review these figures again once we undertake the construction of the new temple Investment pollcy and oblectlves Any investment made by the Trustees on behalf of the eharty will be made solely for the benefit of the charity. The investment approach will be prudent and secu. The charity is financially risk averse. Reporting of Serlous Incldents The Trustees are pleased lo report that there were no serious incidents in this reporting year. Trustees. statement of thanks and appreciation The Monks and Trustees of Wat Phra Singh UK recogni5e the significant contribution ol so many individuals and organisalions who have helped us throughout the year. In particular we Would like to pass on our sincere appiecialion lo the following.. The Venerable Phra Rajsinghaworamuknee Sopon Sopano ol Wal Phra Singh Chiang Mai for having faith and confidence in the trustees, and for his Conb'nuing support and guidance. Alahn Laow Panyasiri of Wat Buddhapadipa. Wimbledon in hi5 role as Chair of the Council of Thai Buddhist Monks in tre UK for his support and advice. Ajahn Chan of Wal Sanliwongsaram, Birmingham lor his invaluable support and advice. Ms. Prili Patel of Ash Norton Solicitors for her invaluable immigration advice and assistance. Hallon Borough Council for their support for the temple and for helping us to integrate wlh the community. Sally Janes for her help in teaching English language skills lo our monks. The Temple Volunteers who give their time and skills free. The many generous supporters who help us a¢hiwe our charitable objects. To the people of Runcorn who have made us feel so welcome To you all thank you 11
Wat Phra Singh UK Trustees, Annual Report (continued) Year ended 5 April 2024 Futu plans The main objeGtives for the next twelve months are.. Complete the Peace Garden. and lo hokl the Si Ra Reuk ceremony on 23 June 24. This will be led by Luang por Sopano, head Abbot of our parent temple, INal Phra Singh, Chiang Mai, Thailand. Reassess the viability of the new hall project, and seek grant fvnding where possible. Continue to concentrate on leaching English to the monks. and hope lo have further success with monks silting their English B2 exams. The trustees, annual report was approved on 18 November 2024 and signed on behalf of the board of Iruslees by.. Mr Anthony Trustee oll 12
Wat Phra Singh UK Independent Examiner's Report to the Trustees of Wat Phra Singh UK Year ended 5 Aprll 2024 I reportto the Iruslees on my examination of the financial statements of Wat Phra Singh UK I'lhe charity'l for the year ended 5 April 2024_ Responsibilities and basis of report As the Iruslees of the charity you aro responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 20111'lhe Act'l. I report in respect of my examination of the charity's financial slalemenls 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 14515llbl ofthe Act. Independent examiner's ststement I have completed my examination. I confirm that no malerial matters have come to my attention in connection with the examinalk)n giving me cause to believe that in any material respect.. accounb'ng records were not kept in respect of the charity as required by sèction 130 01 the Act". or the financial slalemenls do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue 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 conneetion with the examination to which allenlion should be drawn in this report In order lo enable a proper understanding of the acwunls lo be reached. Rachel Palombella FCA Independent Examiner AGP Chartered Accountants Sycamore House Sutton Quays Business Park Sutton Weaver Runcom Cheshire WA7 3EH 18 November 2024 13
Wat Phra Singh UK Statement of Financial Activities Year ended 5 April 2024 2024 Reslricled funds Total funds Total funds 2023 Unrestricted funds Note Income and endowment5 Donations and legacies Total Income 73,623 50,248 123,871 93,193 73,623 50,248 123,871 93,193 Expenditure Expenditure on Gharitable activities Total expenditure 115,495 115,495 115,495 84.841 115,495 84.841 Net Income {41,8721 50.248 8,376 8,352 Transfers b91ween funds 50.248 150,2481 Net movement in funds 8,376 8.376 8,352 Reconciliation of funds Total fund5 broughl forward Total funds carried forward 386,930 386.930 378,578 395,306 395,306 38S.930 The sialemenl of financial aclivities includes all gains and losses recognised in the year. All in¢c)me and expenditure derive from continuing aclivilies. ThÈ notes on page5 16 to 22 form part of these financial stalements. 14
Wat Phra Singh UK Statement of Financial Position 5 April 2024 2024 2023 Note Fixed assets Tangible fixed assets 11 289,508 221,896 cUrt assets Debtors Cash al bank and in hand 12 483 177,474 621 236,332 177,957 236,953 Creditors: amounts falllng due within one year Net current assets 13 72,159 71,919 105.798 165,034 Total assets less current Ilabllltles 395.306 386,930 Net assets 395,306 386,930 Funds of the charity unstrICted fvnds 395,306 386,930 Total charity funds 14 395,306 386,930 These financial statements were approved by the board ol trustees and aulhorised for issue on 18 November 2024 and are signed on behalf of the board by". Mr Anthony Trustee The notes on pages 16 to 22 form part of these financial statements. 15
Wat Phra Singh UK Notes to the Financial Statements Year ended 5 April 2024 General infomiation The charity is a public benefit entity and a regislered charity in England and Wale5 and is unincorporated. The address of the principal office is 88 High Street, Runcorn. Cheshire, WA7 IJH statement of compllance These financial statements have been prepad in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and Ihe Republic ol Ireland,. the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basls of preparation The fsnancial stalem&nls havg been prepared on the historical CDSI basis, as modrfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair Value through income or expenditure. The financial statements are prepared in sterling. which Is the functional currency of the entity. Going concern There are no material uncertaints"e5 about the charity's ability lo continue. Dls¢losure exemptions No cash flow stslemenl has been presented for the charily in the basis Ihal il qualifies as a small charity. Judgements and key sources of estimatlon uncertainty The preparation of the financial slalemenls requires management lo make judgements, eslimales and assumptions that affect the amounts reported These estimate5 and judgèments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use al the discretion of the Iruslees to further any of the charity's purposes. Designated funds are unreslricled funds earmartfed by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes.. restricled income lund5 or endowment funds. q6
Wat Phra Singh UK Notes to the Financial Statements (¢ontknued) Year ended 5 Aprll 2024 Accounting policies (eonllnue Incomlng resources All incoming resources are included in the slalement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated wlh the lransacb.on will flow lo the charity and the amount can be reliably measured. The following specific policies are applied lo particular calegori8s of income.. income from donations or grants is recognised when there is evidence of enlillemonl lo the gift. receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt 15 probable and entitlement is established. iome from donated goods is measured at the fair value of the goods unless this is Impractical lo mèasure reliably. in which case the value is derived from the Cost lo the donor or the eslimaled resale value. Donated facilities and services are recognised in the a¢¢ounls when received if the value can be reliably measured. No amounts are included for the contribution of general volunleers. income from Contracts for the supply of services 15 recognised with the delivery ol the contracted service. This is classified as unrestricted funds unless there is a conlraclLJal requirement for il to be spent on a part(cular purpose and returned if unspent, in which case it may be regarded as reslri¢led. Resources expènded Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which il relate5'. expenditure on raising funds includes the costs of all fundraising activities, events, non- char((able trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking aclivilie5 tral further ils charitable aims for the benefit of ils beneficiaries, including Ih05e support costs and costs relating to the govemance of the charity apportioned lo chaiilable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitsble aclivilies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly lo that activity. Shared eosls are apportioned between the aclivitses they Contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are inilialty recorded al cost. and subsequently slated aleost less any accumulated depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 17
Wat Phra Singh UK Notes to the Financial Statements (contlnLre Year ended 5 April 2024 Accounting policies (eontlnts•d) Tangible ass¢ts (conbnu•dJ An increase in the carrying amount of an assel as a result of a revaluation, is recognised in other re¢ognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial a¢h"v11i&s. A decrease in the carrying amount of an asset as a result of revalLJalion, is recognised in other recognised gains and1055es, except lo which il offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the slalemenl ol financial activities. Depreciation Depreaalion is calculated so as lo write off the cost or valuabon of an asset, less its residual value, over the useful economic life of that asset as follows.. Freehold property Fixtures and fitting5 Equipment 20/0 straight line 20Q reducing balance 20Q/o reducing balance Impairment of fixed assets A review lor indicators ol impairment is ¢arried out at each reporting dale, with the recoverable amount being eslimaled where such indicators exist. Vvhere the Carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting dale. For the purposes of impairment testing, when il is not possible lo estimate the recoverable amount of an individual asset. an e51imale is made ol the recoverable amount ol the cash-generating unit lo which the a55el belongs. The cash-generating unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of a55ets. For impairment lesling of goodwill, the goodwill acquired in a business combinabon is. from the acquisition date, allocated lo each of the cash-generaling units that are expected to benefit from the synergies of the combination, irrespective ol whether other assets or Iiabililies of the charity are assigned lo those units. Financial instruments The charity only has financial assets and financial liabilities of 8 kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the excepiion of banks loans which are subsequently measured al amortised ¢osl using the effective interest method. Donatlons and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Oonalions Gift Aid 58,546 15,077 58,546 15,077 18
Wat Phra Singh UK Notes to the Financial StatementS(¢onlinu Year ended 5 April 2024 Donations and legacies {contsnuedJ Unreslri¢led Funds Restricted Total Funds Funds 2024 Grants Grants receivable 50,248 50,248 73,623 50.248 123,871 Unreslricled Funds Restricted Total Funds Funds 2023 Donations Donations Gift Aid 73,364 19,829 73,364 19,829 Grants Grants receivable 93,193 93.193 Expenditure on charitsble activities by fund type Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Operation gf place of worshlp Support costs 114,594 901 114,594 9Q1 83,912 929 83,912 929 115.495 115,495 84.841 84.841 Expendlture on charitable actlvltles by activity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Operation of place of worship Governance costs 114,594 114.594 901 83,912 929 901 114,594 901 115,495 84,841 Net income Net income is staled after chargingllcredilingl.. 2024 2023 Depreciation of tangible fixed assets 7,345 7,350 19
Wat Phra Singh UK Notes to the Financial Statements {conlinued) Year ended 5 April 2024 Indeperbdent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examin81ion of the financial statements 901 929 Stsff costs No salaries or wages have been paid lo ernployees during the year. 10. Trustee remuneration and expenses No remuneralion or other benefits from employment wlh the ¢harily or a related entity were received by the trustees. No tru51ee expenses have been incurred. 11. Tangible fSx8d assets Freehold New temple Fixtures and property fittings Equipment Total Cost Al 6 April 2023 Additions 203.568 41,033 74,957 47.226 5,096 296.923 74.957 At S Aprll 2024 Deprgciation At 6 April 2023 Charge for the year At 5 April 2024 Carrying amount At 5 April 2024 Al 5 April 2023 203.568 115.990 47.226 5,096 371.880 39,078 4,071 32,550 2,934 3.399 340 75,027 7,345 82,372 43,149 35,484 3,739 160,419 115.990 11,742 1,357 1,697 289,508 221,896 164,490 41,033 14,676 12. Debtors 2024 2023 Prepayments and accrued income 483 621 20
Wat Phra Singh UK Notes to the Financial Statements f¢onihued) Year ended 5 April 2024 13. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income Other credilors 1,999 70,160 1,758 70.161 72,159 71.919 14. Analysis of charitable funds unstrICted funds Al 6 April 2023 At Transfers S April 2024 Income Expenditure General funds 386,930 73,623 1115,495) 50,248 395,306 At 6 April 2022 Al Transfers 5 April 2023 Income Expenditure General fijnds 378,578 93,193 184,8411 386.930 Restricted funds Al 6 April 2023 At Transfers 5 April 2024 Income Expendrfcure Restricted Fund 50,248 150,2481 Al 6 April 2022 Income Expenditure Transfèrs 5 April 2023 Restricted Fund Transfers The transfers have arisen due to fixed assets bein9 purchased from restricted income and so the funds have been transferred lo unrestricted as the fixed 85sels are held for general use and not a restricted purpose. 21
Wat Phra Singh UK Notes to the Flnancial Statements (CDntlnue Year ended 5 April 2024 15. Analysis of net a55ets betweèn funds Unrestricted Totsl Funds Funds 2024 Tangible fixed assets Current assets Creditors less than l year Nèt assets 289.508 177.957 172,1591 289,508 177,957 (12,1591 395,306 395,308 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Nèt assets 221,896 236,953 171,9191 386,930 221,896 236.953 171,9191 386,930 16. Related parties Any connection beeen a trustee of the charity musl be disclosed lo the full board of trustees. No transactions with related parties were undertaken such as are required Ic> be disclosed. 22