Charity RegistrAtion No. 11$5887 Company Reglstration No. 08733953 (Egland and Wales) SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATION TRUSTEES, REPORT AND UNAUDITED ACCOUNTS FOR THE PERIOD ENDED 31 OCTOBER 2023
Trustee$, Report and Unaudited Accounts for the perlod ended 31 October 2023 SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATION Legal and Administrative Information Board of Trustees Rev Boralande Wajiragnana Thero (The Chairnian) Rcv Muwddeniye Dhammarathana Thero Rev Dikwelle Upatisaa Thero Mr Suranimala Sendrdtne (The Secretary) Mr Don Ratnayaka (The Tr¢asurer) Mr Sujith Dissanayake Mrs Chand¢mi Kdlugdrnpiliyd Charlty Number 1155887 Company Number 08733953 Principal address 84 Dacre Road Plaistow London E13 OPR Bankers Bank ol'ceylon l Dei'onshire Square London EC2M 4WD Registered Office 84 Dacre Road Plaislow London E13 OPR PagL 2 of14
Trustees. Report #nd Lnaudited A¢¢ount$ for the period ended 31 October 2023 SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATION Contents Page Trustees report Independent ex2miner's report Staiement of fInan¢ial activities 10 Balancc sheet Board's approval 12 Notes to the accounts 13-14 Page 3 of14
SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATION Trustees, Report for the period ended 31 October 2023 The Trustees present Iheir report and accounts for the period O l November 2022 to 31 October 2023. The accounts have been prepared in accordance with the accounting policie5 set out in Note I to the a¢¢ounts and ¢omply wilh the Companies Aci 2006 and the Siatcmcnl of Rccommcnd¢d Practice 'Accounting and Reporting by Charities, issued in March 2005. Siruciure Governance and Mana cmcnt The Charity is a company limited by guarantee and not having a share capital, established under a Memorandum and Articles of Assuciaiion. incorporated on 15 October 2013. The Foundation was registered with thc Charity Commission on 21 Fcbruary 2014. The twstees, who are the dircclors for the purpose of company law, and who served during the period are: l. Rev B Wajiragnana Thero 2. Rev M Dhamarathana Thero 3. Rev D Upatissa Thero 4. Mr S Senaratne 5. Mr D D Ratnayaka 6. Mr S C Dissanayake 7. Mrs P C Kalugampitiya Trustees No. 1. 2. 3 and 4 are residents of Sri Lanka. The remaining three trustees are UK residents. Nonc of the tru8lees have any beneficial interest in thc company. All the trustees are members of the company and guarantee lo contribute £ l in the event of a winding up. There are no indemnity provisions in place for the Iruslees. The trustees haN'e assessed the major risks to which the Charity is exposed to and are satisfied thal systems ar¢ in place to mitigaie exposure io major risks. Pagc4of14
SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATION Trustee ort for the eriod ended 31 Oct er 2023 continued Objectlve and Activities The Chari 's Ob-ectives.. l. Advancement of ihe Buddhist faith and philosophy in accordance with the following doLtrines: a) Theravadha Buddhist Scripturcs b) Sulta Pitaka (Teachings) and Vinaya Pitaka {Discipline) Discourses ) Abhidhdmma (higher doctrine. detailed an¢ilysis of all mental faculties and elements) preached by Gaulaina Buddha The charity will do this by propagating the Buddha's teachings locally. nationally and iniernaiionally through the Buddhist TV Ihttps=/lwww.Ihebuddhist.tvl}. undertaking ceremonial activities and rituals on a rcgular basis and holding wcckly Dhamma (Buddha's tcachings) talks, disciissions, meditation sessions and retreats. 2. The prevention and relief of poverty anywhere in the world. by providing or assisting in the provision of education. training and healthcare projects, and providing necessary support for Self-Sulelency. 3. The promotion of religious harniony for the benefit of the public by promoting knowledge, mutual understanding and respect for the beliefs of different religious faiths. This has been promoted by providinglparticipating in lectures, seminars, and workshop5 on the Buddhist faith and participating in Newham Borough s¢hool8' religious education programme. Th¢ trustees have paid due regard to guidance issued by tlie Charity Commission in deciding which activities the charity should undertake. The Foundation activities and events relate to the ear ended 31 October 2023.. Rev Madugalle Mahanama Thero is the head monk-in-char¥e (Viharadikari) of (he iemple. His role is to head the congregation and conduct worship. deliver sennons and provide spiritual guidance and support for all 'isiling members of the covnmunily. His acrivitie.s also include delivering semons and chanting at other Buddhist temples and visiling homes ot members of the congregation. on invitation, to give blessings and tor related spiritual activities. He is supported by monks visiting from Sri Lanka and other lemples in the UK. Rev Madugalle Mahanama Thero went lo Sri Lanka in March 2020 and after the Covid pandemic and rcturncd in November2022. Rev Apar&kke Dhammanadha Thero, temporarily joined the temple in 2020 and continued to serve the community as did Rev Mahanama Thero before him. perfom]ing"all the aforementioned activities. When Rev Mahanama Thcro rLiumed hc look over from Rei. Dhammanadha Thcro and conduct the daily evening worship and the monthly retreat (poya sil) programmes. The practice of live streaming of evening worship and other programme5 conducted at the temple via Zoom during Covid has been so successful, that Ihe practice ha5 continued. The deiolees now hae a choice whether to paniLipaie in temple activities in person or remotely via Zoom. Other programmes including up to 6 5crnions a monih and meditation classcs every Saturday. by monks in Sri Lanka, are also live streamed via Zoom. During the year Ven Nawelagama Amiihadassana Thero arrived at the temple Éo observe Vas and remained at the Vihara for about six months. He returned to Sri Lanka after the Kathind festival. Ven Pannegamuwe Seeladassana Thero arrivcd al thL ILmplL with Ven Boralande Vajiragnana Nayaka Thcro (Chief Prelate. Chaimian of Sri Sambodhi Commiinily Development Foundalionl for the Kaihina festival. The latier returned to Sri Lanka after one week. Ven Seeladassana Thero returned to Sri Lanka after about 6 months. Page S of 14
In 2023, the fifth anniversary of the passing away of our Founder and the fIt Chairnian, the Most Reverend Dardndgdma Kusaladhdmma Naydka Thero. comtnemorated. There was a special sem]on from Sri Lanka in th¢ morning and Buddha worship in the evening. On thc 4 of March there ,2.5 a special sernion froni Sri Lanka in the morning, dana (lunch) for monks and a tspecial Buddha worship in the evening by Rev Mahdnama Thero froni Sri Lanka. The event was allended in person by a several devotees. while some participated via Zoom. On 8th April 2022 a remembrance ceremony was held in memory of our first Patron, Chief Prelale of the Asgiriya c.hapter in Sri Lanka. Rev. Udug&ma Sri Buddharakkiiha Maha Nayka Thero who passed away on the same day in 2015. Vesak, which commemorates the Birth, Enlightenment and Passing Away of Gautama Buddha was celebrated in May 2022. Poson, which commcinoratcs the introduction of Buddhism to Sri Lanka by Arahant Mahinda Thero at Mihintale, in the third century B.C, was celebrated in June 2022 and Esala, which comTnemorates Buddha's preaching of his First Sernion. (The Setting iii Motion of the Wheel of the Dhdininachakka Suttd). sianing of Vas (Rains Relrcat) and the arrival of Buddha's Tooth Rclic in Sri Lanka wcrc cclcbratcd in July 2022 via Zoom with some devotees attending in person. In addition to thcsc specific events dLvotcc8 observed 'eight-preccpt%' on Sundayq clo8CSt to thL full moon day, each month. The full moon days in each month marks important events in the Buddhist calendar. Some devotees visited the temple tliri)ughout the day to celebrate and to receii'e blessing for the New Yedr I I st January), the Sri Lanka Independence Day14th February) and Sinhala and Tamil NLW Year {14ih April). Vas (rains retreat) from the full moon day in July (E.sala} to Ihe full moon day in October {Vap) was celebrated weekly with Sunday worship. primarily ilia Zoom. During these months each Sunday worship was sponsored by a dcvotcc. Thcsc worships culminatcd in a ccrcmony of thc offcring of a Kathina robc to thc monk. Thc Kaihina ceremony was held on 4, November al a grand scale. li was held al hall near the temple and altended by the resident monk and several other monks from temples in the UK. The Foundation worked closely wilh the Newham Schools, Religious Education Advisor and continued to SUPPOrt local schools in their religious education. The nonnal visits by school children were not held due to the construction work al the temple. Instcad, The Foundation took part in di.scus.sions wilh religious teachers. The Founilation provides opportunities lo the devot¢es to help the community and some of the forest monastcric5 in Sri Lanka. which experienced hardship during the pandemic. Several devotee.s of the Icmple provided financial assistance lo temples and other institutions in Sri Lanka wilh development work and other aelii'ities and worked with organisations aiding the disabled and the poor. Thc rcligious school op¢ratcd by the Foundaiion, which was startcd in 2015 did not function sincc Covid pandemic. Trustee meetings were limited to ihree during the year, as there were not many activities to report. Achievements and erfonnance The monks conduct all the programmes and live at the property free of chargc and are not paid a salary. They render a yeoman Service 10 the Lommunily on a i'olunlary basis. Their welfare is being looked alter by ihe dcvoteC5. The charity does nol makc any charg7es whether in cash or benefits in kind for any of the SLrvices conducted by the ternple. All donations made are voluntary. The charily does noi have any employees. All work is done by volunteers. At presenl the charity does not have any fund raising events and does not receive any grant from any public or privatc organisalions. Due lo financial reasons the fund raising possibilities are being reviewed. Page 6of14
The devotees of the Foundation donate funds which are used for the day to day running expenses and further developmenl of the Foundation. The devotees also bring requisiles for the monks and for the temple and provide breakfast and lunch for the Inonks througFhout the year. The Foundation maintains a list ofdonors who contribute monthly by bank standing order. A special fund has been set up to collect donations for the building works. The construction work on the extension. which started in June 2021 progressed slowly due to the pandemic and difficulties in sourcing out building rnaterials. The devotees have been steadily donating funds, Ivithin their means. while various building regulations and procedure5 were complied with. It is scheduled to be completed by tho end of August 2024. We are grateful to the many devotees who have worked tirelessly, consistently and voluntarily for the benefit of Ihe Foundalion and its development. Page 7of 14
SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATION Trustees, Report for the period ended 31 October 21123 (Continued) Financial Review Reserves lic The charily has very few fixed costs and has no need for reserves beyond a minimal level. The trustees consider that £ l 0,000 is adequate as free reserves al the present time. The charity currently holds much more than this amount. R¢sulis for the ear: In the period ended 31 October 2023, the Foundation had an excess of incom¢ over expenditure amounting to £ 91,336 Reserves carried forward amount to £ 385.811. The statement of Financial Activities on Page 10 summarises the incoming sources and main areas of expenditure. The Balance Sheet on Page I I shows the Charity's assets and liabilities at 31 October 2023. li is the policy of the Chariiy that unrestrict¢d funds which have not been designated for a specific use should be maintained at a level equivalent to bel'een three and six month'5 expenditure. The trusle¢s consider that reserves at this level will ensure that, tn the event of a significani drop in funding, they will be able lo continue the Charity's current actiN'ities while consideration is given to ways in which addilional funds may be raised. This level of reserves has been maintained throughout th¢ period. Donations by devotees for the extension have continued bul at a slower pace than in the previous year. The net income tor the current year reflects this effect. On behalf of the Board of Trustees, D D Ralnayaka Trustee & Treasurer Dated: 25July 2024 Page 8 of14
SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATIO IYDEPENDENT EXAMINER'S RF.PORT TO THE TRUSTF.F.S OF.SRI SAMBUDIII COMMUYITY DEVELOPMENT FOUNDATION I report on the a¢¢oun¢s of ihr Cl)8n"ty fot th¢ year end¢d 31 October 2023. which are $¢t out on e8 l O lo The Charitys T[SteeS (who wrt 80 thc diTt¢tOT5 of the ¢ompany for the pu$¢$ of company law) ar¢ resEM)nsible for the preparation of the ac¢ou¢)is. The Ttustees consider that an audii i.8 not requifeA for this year under s¢10 144121 ofthc Chanti¢$ Art 2011 and thai ali independEnt examination is Detdcd. Having 54tisfitsl my5¢1f thai the tharity i$ noi subjttt w an audit under company YAW And is eligible for inderudcnt examinau¢)J4 it is my responsibility to.. ¢xatt)ine thc a¢¢oun¢s under Section L45 of the 2011 Act: follow the procedures laid down in the gcneral DittctioLy given by the Charity CoTtttnission undEt seaiun 14515llb) of the 2011 Aci- and lo state whether particular matter5 hAve come io my at(eDlion. My ex8msllation was CBrried oui in a¢Eordan¢e with the 8¢ncral Direction5 given by th¢ Charity Commi8$i0n. An ¢xaminution in¢lud¢s a review of the 2ccountin8 record5 k¢ by th¢ Ch8Tity and a comparison of thc a¢¢ounts presented thosc re£ord5. It also includes ronsid¢Thtion of any unusual it¢m5 01 di%closure$ i>L the accounts. sceking cxplanation5 from Y( a¥ TnJstee5 con¢crnin8 any suth maittts Thc procedures und¢rtsken did noi cover Èll the evid¢n¢¢ that would bc required in An audii. The report 1$ limited lo those set out in the next stslernajt. In connection with my examination, Do n)altrr has comt ro my attention.. whiLh &V¢S mc re&8onabl¢ cause to bclicve Ihal Én Rtty material the requirements.. to keep a¢¢ouDtLng records in a¢cordance with 5eetion 386 of th¢ Companies Act 2¢)5 and to prepare ic¢ounrs whicb accord with the a¢¢ouDtin8 record8. cornply wath th¢ accounting r¢qutrcments of scciion 396 of the Compani¢s Act 2(M)6 and with the mcthods principles ol the Ststcmcnt of Rttomm¢nde4 Prn¢ttee.' Accountin8 and Rqlg by Chariknes hiv¢ been whJLh. opinioTL aitrniion Should be drm itt order to eD3ble & proper underst&ttding of the rathna CiLniiin8 Town LA>ndon E16 4HT Datcd.. 25July 2024 Pa8e 9 of 14
SRI SAMBODHI COM.MUNITV DEVELOPMENT FOUNDATION STATEIIIENT OF FIANCIAL ACTIVITIES INCLUDING 1cOmE AND EXPENDITURE FOR THE PERIOD E.NDED 31 OCTOBER 2023 2023 2022 Notes Incoming resources from £enerAted funds Donation and ILgaciLS 109420 50,365 Resources expended Governance c05t 18,084 18,591 Total resources expended 18,OIS4 18,591 Net income for the Tr'earl Net moi'ement in funds Fund balance at 31 October 2022 91,336 294,475 31,774 262.701 Fund bydlance at 31 October 2023 385,811 294.475 The slatemenl of financi<il activity also complies with the requirement5 for an Income and Expenditure Account under Companies Act 2006. PagL 10 of 14
SRI SAMBODHI COMMUNITY DEVELOPMENT FOUiYDATION BALANCE SHEET AS AT 31 OCTOBER 2023 2023 2022 Notes Fixed assets Tangible assets 882,851 645.303 Current Assets DLbtoi's Cash in bank and in hand 3,037 21,234 24,271 22.514 136.314 158,828 Creditors: amounts falling due M'ithin one year (12,200) {24.795} Net current assets 12.071 134.033 Total assets le55 liabilities 894,922 779.336 Creditors: 4mounts falling due after more than one year 10 1509,111) (4%4.X611 Net assets 385,811 294.475 Income funds Restricted Funds Unrestricted funds 10,000 375,811 385,811 31.774 262.701 294.475 The company is enliiled lo the CXLmplion from Ihc audit rcquircmcnl eonlained in Scction 477 of the Compdnic8 Aet 2006, for the period ended 31 October 2022. No Tnember of the company has deposited a notice, piiTrydnt tv section 476. requiringF an audil of these accounts. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records M,hich comply wilh the Section 386 of the Act and lor preparing accounts which give a true and fair view of ihe stale ol. affairs of the company as at the end iit-thc financial ycar and ot- ils incoming rLsourees and applicdtion of resources. including ils income and expenditure. lor ihe financial year in accordance with the requirements or Sections 394 diid 395 and which othLfw'i5c coiiiply with the requireinents of the Companies Act 2006 rclatiiigj lo accounts. %0 far as applicabl¢ lo the company. Pagellof14
r , P• 124e14 4N.;
SRI SAMBODHI COMMUNITY DEVELOPMENT FOUNDATION NOTE8 TO THE ACCOUNTS FOR THE PERIOD EN'DED 31 OCTOBER 2023 l. Accounting policies 1.1 Basis of preparatlon Thc accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with applicable accounting standards. the Statemenl of Recommended PraLtic¢, 'Accounling and Reporting by ChariEies' issued in March 2005 and the Companies Act 2006. 1.2 Tangible fixed a55ets and depreciation TdngiblL Iixcd assets other than freehold land are stated at C05t less deprecialion. Depreciation is provided al rales calculated lo write off the cost less estimated residual value of each asset over ils expected useful life. No depreciation has been provided for additions made nearer the year end as the trustees are of the opinion that the additions were fitted towards the end of the accounling period and no depreciation is necessary. 2. Dongtions and legacies 2023 2022 tkinations include donations for the new build 109,420 50.365 3. Total resources expended 2023 2022 Governance cost 18.084 18.591 There are no charges for accountancy fees during the year 4. Covernance costs 2023 2022 Governance costs comprise= Professional and Registration fees Donations Other support cost¥+ 211 4,513 13,360 18,084 412 9,388 8.791 18,591 Donations mainly include those made to monasteries in Sri Lanka io meei their operating Costs in appreciation of the sernions given via Zoom. As. the scheme slaned during Covid-19 isolation period, scheme to be very very benefiLial to our ¢ongregalion, it H'as exlended beyond Cui'id-19 isolalion period. Pagc 13 of 14
- Trustees None of the tNstees. or any person connected with them. received uny remuneration during ihe period for serviccs provided to the foundation.
- Employees There were no employees during this period.
- Tanglble flxed xssets Land Flxtures, and Fittings & Buildings Equipment Total Co$t At l Nov 2022 Additions Disposal Ai 31 October 2023 667.879 239,730 24.131 692.010 239.730 907,609 24.131 931.740 DepreciAtion Al 31 Octobcr 2023 28,478 20,411 48.889 Net book value Ai 3J October 2023 879,131 3,720 882,851
- Debtors 2023 2022 Trade debtors 3,037 22,514
- Creditors: amounts fAllinE due within one year 2023 2022 Other creditors ALcruals 12,200 24.795 12,200 24.795
- Creditors: amounts falling due after more than one vear 2023 2022 Other CTedilors 509 111 484.861 Page 14 of 14