REGISTERED COMPANY NUMBER.. 09344009 (Ellgllld Wglesl REGISTERED CHAIUTY NUMBER.. I 163076 Re rt of the TrleeS and UJJaudiied Financial Sialemen Y¢arEndcd 31 De¢ember2023 foi aDech nB Litniled b Guarnnl Aco
a DE¢hen Contents of th¢ Financi81 statllents for the YearEnded l Decernber 2 RepDrt of the Trustees Independent Exa]nineT'S Report Stutefflertt of Financial Activities Bala¢ She¢t No*s to theFinancial St8temcTht8 10 10 19
tn Limited Ke ort of Ihe Truslx8 foT the Ytar Ended 31 DecembBI2023 The truslEes who are also directors of the charity for the PUTposes of the Companies Act 2006, present their ieport wilh Ihe fit&n¢ial slaiements of the charity foT the year ended 31 De¢etnbeT 2023. The truslees have adopted the pro¥ision5 of Accounting and Reporting by Charities." Statement ol Recommended Practice gpplicable to charities pyepanng th¢ir accounts in accordsnce with the Financial Reporting Stsndard applicable iii th¢ UKand R¢public of Ireland IFRS 1021 leff¢¢tsv¢ l January 20191. ORIECIIVES AND ACTTrITIES Objcctive5 gnd *ittkS The company is a charity and exists to advan¢E the Sakyapa School ol Buddhism and in particular the spiriMa] authority of Kam Thinl¢y Rinpothe 3nd Larna jatThaye as ma8tets olthe Sakyapa h0o1 of Buddhism. Signlficllnt activitles Dur&ng the year Ihe charity conlinu¢d to d¢v¢lop its adivilies in its London an(f Bristol ¢¢ntr¢& with a view lo Beneraling wann aDd welcornin8 spaces for pr8¢titioners aDd twcotners to visit lo learn mote about Buddbisrn a[ the Sakya ttadilion in particular. P88e I
Dechen Buddhism Li[nitl Re ort of th¢ Trus¢5 for the Year Ended 31 DecetttheT 2023 ORJECTIfvTS AND AcfMTIES Public bEnefit ThE Ttu$oe8 have consideT¢dth¢ Chsrity Cotnrni55ion Guidance on Public Benefit ll) accordanff withThe Charities Act 2011. In ¢xercisingth¢ powers and putSUiDg the objects of the charity, public benefit is attomplish&l by.. -Providing temples forthestudy and pr8¢tice of the S8ky8Buddhist teachings. - Reciting pr&y¢r5 Hnd rituals foT the well-ktijg of the sicl the deceasvj, expecthnl mothers, and all those in need. - Promoting and providing introductory meditslion ¢185ses and thingS th¢ basic principles of th¢ Buddhist teBchiDgs. - Establishing alld supwrtujg wups across England. in Londoj), Bristol. Bath 8JJd Excier, llj order io dcliver locally the prec¢ding proS1O. - Pre8enting Buddhist l¢xh]Rl teachu]gs by (qualified Buddhist teach5) foT PTaclitioDU5 and othEr IKnefi¢iaries interesttyj itt learning aboutth¢Bud(th&'s teachin8S. - Providing r¢treat facilit1¢5 for prIlliO[ interested in Bnhllncing the study and prdclice of Buddhist teachijjgs tbtough petiods of solitary meditation conlernplatioft. - Providing a Dbamm School lo educate chtldren in thc t¢&chinB5 of the Bu(ktha,' 8nd to introduce th¢m to t[]tIOD practices, traditional prayers, TeliElOUS Stories and principles of tnoralTty. - Making av&il&ble prayers, book4 tapes, images and othermaterials as aids lo the snmiy andpractice of Sakya Buddhism. - PreSeillg relics, imw5 oiheT swed Buddhist vbjects well as other objects OCiated with Tibetan pbilosophy, 108TG, metsphysics, arl sa¢r&l dance, crdfts, medicineand astrology. - Pmvidiog Classical Tibetan l&tw]aBe cknses. Providing trdnslatlDnS of Tibetan Buddhist texts, along with the printfft& publi8hing, distributing and 5clling of 8ny asxl3ted liteTrtUTe. - Providing education&1 workshops for School ¢hildTett inteTe8ted th learnuJ8 atK)ut BudthisttL These aye delivered at the charity's temple in Bristol or in schoo18, by one of the charity's inslruclors. - Providing cultUTal and 50cial events to incree access 10 the charitys temples by the lrtal ¢omullLrrity. In sssessing the publi¢ benefjt of thc charity's allns, therc ha8 be¢n no report or evid¢nc¢ of d¢irimenl or harni flowing from th¢ charity carryingoul its allns. The in*nded benefi¢i8ri¢5 of the charitys aims include.. li} Practitioner5 of SakyB Buddhism. Such benEfi¢iariES are dEaWll from a ctoss se¢tion olsociety. fTom atoulld the U.K. and Europe. {iil Tr wider public. wiw benefit from the charitys activities by having opwThmitie5 to attend the temples Bnd to l¢arn about Buddhism andlor prnctise meditation. {iii) Tbe wider public. who attend regular bublic tslks, given by itmas. Talks tre held in public buildings aod arc promot city- and r¢gion- wdE. {ivl Membeys of ihe public who T¢quest pr3ye to b¢ recited and rituals PErform¢(( foTth¢5i¢k and dying. tn general tern, the charity's activities achieve public benefit as a result of praciiiionets, lifestyles and praaices being in accordance with the ethics and values of Buddhism, thereby enriching ihe moral &nd spiriwal w¢llarc of society. Th¢ Truste¢5 Satisfied that any chaTges for seTvi¢cs or requests for T¢gular payments, T¢asongbl¢ and takc into con5id¢ration each b¢n¢ficiBrfs Rbility lo p&y. All even15 Ptovided by the chsrity offer a con¢¢ssionary rate. Voluttteers The Lharity depends enlir¢ly ¢)n volunteers lo cury out ils actities. The Board of Tn]stees would like to take this OPPOTtwllty to tbankall its SUPPQrters. Page 2
Sak a Dechen Buddhi ort of the Trustees for the Year Ended 31 Decembw 2023 ACHIEVEMENT AND PERFORMANCE Charitable *ctlvtdes During the ytar th¢ charity ConliTru to meet its obj¢cliv¢s of 8upporting opportunities for the study and practic¢ of Buddhism. B150 making use ofonline plaifortns to offeralteJ])ative a[ accessible opportunities foi pA¢tice. This has bEen achieved withfft the resources availabl¢ and the charity has met all of its finanual ¢ommitm¢nts, Including th¢ proper tnaintenan¢e ajyj impTovem¢ntof 118 main as5¢14 the c¢ntr¢5 in Bristol Bnd London. Fundralslng &ctlirytie5 Th¢ chariV5 stp5 have beert established to Aise fut to a85ts1 with the ovetheads and Costs. The shop8 noi intended to be commercial enterprises - their main pu]pose is lo supply articles. books and artefacts to assist pra¢titioner8 with thetr m¢ditsiion practice. The London shop i5 specifically a charity shop which reli¢s on donaligns of book5 for ressje. Hence the nonnal key perfornianc¢ indicaloTS such 3s gross profit percentage are not consideTed indicative of the succe55. Nevertheless the shops a pects4 to achievE a 5tnall surplLLS to contribute lowatds the costs of [atainl8 the centres in thE future. FINANcL REVtEW Ffn2ucial p05itiOIi As t]led in thcchariws bglanc¢ 5he¢L th¢ ch8Titys financial position is stable dSUr¢. Prittelpil fundlngsour¢e5 The charitys p]incipal fundinB 501SlfE5 in restKrl of day to day acliwilies are TeBular donations fro]n the members of its ¢etstre8. r¢spect of tnajoi eKyenditures. such as the purcha8e of properties. the charity kn relied on appeals to member4 supplemented by bom>w1n from financtal institutions to coveTany shorfg11 on app¢91 fiands raised. During th¢ y¢Br the ch3rity ieceived notification of a sigDifiEaDt legacy of £IOO,000 from the will of the late Sibylle Ballwe8. This Eene]Dus from our late supwrter (which had bcen received on 15.3.20241 is greaily gpprecialed. Th¢ legacy has b¢¢n Provided for in these &ccounts in accordwe with the tems ofth¢ Chariti¢5 SORP. Re5erye$ policy As B nller of poliiy, the Ttustetts Ujlend to hold the amount of resetves held ¢a8h cash ty4uivalents wt restricted to or deSiated for any particular purErf)se at the minimym level of 3 10 6 months, re8ular cash expenditure ¢qualing 10 £31,000 Q022 £28,350). The board ¢on5id¢r5 th¢ charitys e¥posure lo the risk of Rny significant 1055 of incoTn¢ Bnd lo the risk of unforeseen expenditure. which cannot be tnitigaled by executive &ctiot4 and on th bRSiS will decide whether the umounl of assets held ID Ga5h reserves should be ittueasedordecreased. Al the year erf the ChtyS &vailBble CBsh fijnds atnounted to £62,386 12022 £1372511. being the total of cash-ai-bank aDd cash-in-hBnd not &ttributable to resti?cled funds. as Slated on page 8. The TTUStees bE12eve that these untestri¢led Teserves are sufficient lo ]Theet the charity's day to day TeqUttleIs. The Eharity has a150 Invested sutplus ¢a5h of £I,(m)0 ll) a high int¢resl batth bond diie for maturity in J8nu8ry 2024,of whioh approximatly £70.000 ha5 b¢en ¢Br-m8rk¢d towards th¢ full repayrnenl of one of the bank loan5 early in 2024.. Golng concern In th¢ opinionof thÈTn1ees the chaTity Corttinlles to be a goingconcern. F[[rilE PLANS Duting 2024 Ibe ciwitys ¢etttr and wups in Bristol. London, Bath and Exeter will continue to provid¢ introdudory courses in Buddhtmi. tO8eiheT with moT¢ in-depth t¢achtng5 pr¢5id¢dov¢r by visiting Lama5. As mentioned ¢arlier. the cbarity ha5 plans to repay one of its bank loans in fvll the lltsturity of its b3]]k boftd. In wew of the ever-inueasing number of attendees al year-round 8nd major event4 the charity ss lookin8 at the feasibility of expandittg ils operations in Bristol and to that end considering eithLY th¢ development of its existing building or the a4uisition of an additional spac¢. STRucfuRE GOVERNANCE AND AGEmTrrr Governlngdocument The oharity is controlled by ils governing docutnenL ils Articles of Associatio constitutes a li[ni1 company. bmit&1 by guar8nt¢e, &gd¢fItd by the Co]npanies Act 2006, register in England and Wales, Esiablished foi Charitable puwes. Recruittlleut alld appolnfment of Dew truBtse$ The charity's trusoes amd committte members are appointed by thc Board of TAle¢S after duc cond¢tion bEing Ven to eligibility, personal compctcnce, specialist skills and local availability. Page 3
hen Buddhi m Litnifrd ort olih¢ Trustees for th¢ Y¢&rEnded cem STRUCTURE, GOVERNANCE AND MANAGEMENT OrglltLi5atioDlll structure OveTall conirol of th¢ charity rests with the BoaTd of Tstee$. Day tD day Cotrol of the chaEitys fimctions Hnd finance5 8r¢ delegated 10 local admiiiislralor5b gppoinled fortheirskilis and compeicnce. Indvrtion traIlg0re7V trllstees N¢w tnjstees and COTnTnittee metnbBts are inducted u]to the workingsof the ch8rity by the BOArd0fTnee. Wider network The Chatity is a m¢mb¢r of the Dh¢n Community. an associtlion of organisationg with similaT aitns alld objective4 wbich provides support and resources lo its m¢mb¢rs 85 n¢ed¢d. Rl$k manllgeMet The TTUStees have a duty lo identify and review the risks lo which th¢ charity is ¢xpos¢d Bnd to ensuT¢ appropriate controls are in place to prtrvide reawttableassuranceagalljsi fiaud artd eTtOT. A fonnal review of thechaTitys I75k]DJgelljl proc¢55¢5 15 wJd¢rtaken on an annu8] basLS. The ¢harity mainiaffts a comphen91¥t registsr of risks, which is subj1 to regular view. Through the risk managernent processes tablishcd for the chanty. th¢ Tn]stees aT¢ satL8ft¢d that Ihc major risks idenlifid have beett adEqualely miligaled where necessary. Il is r¢w8nized th&t Sy51etns can only provide re&sonBble butnot tholut¢ uranCe thatmajoTTisk5 have been sdequatelymanaged. REFERENCE AND ADMINISTRATIVE DETAItS Registered Compojty number 09344009 (Englalld and Walcsl ReBl$tered Charltynumber 1163076 ReEi5tcrtd offiet 121 Sommerville R(Hd Bristol BS6 5BX Trll5tee5 Mt D J AttDstrott8 Furniture Maker MrP J M Brady Local Government Manag¢r Ms N Chri5tov StrLJthrer Mr B J Golding AccountaDI Mr A M Gutmann Financial Sthvi¢e8 Mt P Haddon Audiior Mr M A Lund Selfemployed Mr S G MulliE3n None (deceased 14.6.231 MT C S Roger5 Accoulltaiit Ms M B Moore Teacher Company Secretary Ms M B Moor¢ Independent Ezamin¢r Hgnngh P¢ttiferACA (EL Accountancy 141 EnglishcombeLane Bath BA2 2EL PagE4
Sak a De¢heL B ort of the TTuslees foT the Year Bndcd 31 Dtc¢mber2023 This report h25 been prepAred in acwrdgnc¢ with the 8F¢ial proTr7sio of Part 15 of the Companies Act 20(h5 relating to small compani. Approved by Orderof th¢ tA)8rdoftN8ttts on 29 July 2024 and siEnedoD I15 by.. MrD JArn]strong- TTu51Ee Pagt 5
lttde ndenl Examin¢ e50f ni Limi Independeut exllminerf5 reportto the trll5tees of Sakya Dechen Buddhlstth Llmited I'tbe COpAY,) I report lo the chaTsty IIu51ves on ]nyaTnination of the accounts of the Company forthe year ettded 31 December2023. Re8ponslblUtles basls olreport As the chariiy's Irusttts of the Company land al80 its directors for the purroses of company lawl you ar rsponsible for the prepBrdlion ofthe accouDts u] accordance with the requir¢m¢nls of Ihc Companies Act 2006 Cthe 2006 Acl'l. Havin8 satisfied myscif that the accounts of the Company are not Tquir¢d to be audit¢d under P8rt 16 of the 2006 Act and are eliwble for indepcndenl ¢x3mination, J report in respe¢l of my examination of your charity's accounts a5 ¢3rried out under Section 145 of the Char2ties Act 2011 Ilhe 2011 Act). In o3ryying out my examination I have followed thB Directions given by the ChaTity Collllnission undeT Slln 145151 Ibl of thE 2011 Act. Independent exAmlner's statement I have compl¢ted my ¢xamiDalioN. I confirm that no matters have come to tny attention in Cont110 with the ¢xamillation v)g m¢ C&Use to believe. a£¢ountuJg records were not kept in Te5PBCt of Ibe Cotnpany 85 rquired by Section 386 ofthe 2006 ACL or the count8 do notaccord with those re£ords.' or the accounts do not comply Nwih th¢ QutIng requirements of Se¢iion 396 of the 2006 Aci other than any requ[11 th&t thE attounts wve a true and fair view which is not a matter con5id¢redas pan olan ind¢p¢nd¢ni examination., or the accounts havc not been prepared irt a¢coidan¢e witb the tnethod8 and princip1¢5 of the Sotcment of RccomrtteJJded Practice IOT accounting gnd reporting by charili¢s lappli¢able to charities preparing their accounts in 0rd8nce with the Fi[cIal Reporting Siand3rd applicable in Ihc UK and Republic ofbeknnd (FRS 10211. J bave no concerns and h&v¢ come across no other mattets in ¢QDnertion with the ¢KaminatlOD to whith attention should drawn in this r¢port in orderto enable a proper under8tanding of the accounts ty be te4d]Ed. Htnnah Pettifer ACA CCL Accountan¢y 141 Englishci)Tnbe LAne Baih BA2 2EL 29 July 2024 Page 6
Sak a DeEhen Buddhi5tn Limited Sialement ofFinancial Activities co oratin an Incorne and Ex for the YearEnded 31 Detettth>Er202 tu Account 31.12.23 31.12.22 Total funds Ullrestrict¢d fiLnds Restricted fid8 Totsj fLmd5 Nolcs INCOME AND ENDOWMENTS FROM Donation5 2nd legacie5 i64,(0 164,OLK) 142,915 CbArltable Aetlwlti Cour8es 16,357 16,357 47,124 Othertradingactivities Investtnent income Other income 9,021 5,624 23.518 9,021 5,624 23.518 5.229 3,304 Total 218,520 218.520 198,577 XXPENDITURE ON Raising fLuJds 6286 6286 2.369 Charfi*ble a¢tlvldes Buddhist¢¢ntr¢ administration CouTres GAnts 10 otheicentres 38,075 15,970 8,320 38,075 15,970 10,320 41,254 31,726 6.724 2,0(M) Total 68.651 2.0(K) 70.651 82,073 NET ll¥COMEJIEXPENDITUBI) 149,869 I2.0) 147069 11&504 RECONCILIATION OF FUNDS Total funds brought forward 734.719 2,309 737,028 620J24 TOTAL FUNDS CARRtED FORWARD 884,588 309 884,897 737,028 The notes fonn part of these finaDcial stat¢m¢Dts Pag¢ 7
Sak a Dech Balance Sheet 31 Decetnbrr2023 31.12.23 Total nds 31.12.22 Total fimds Untestri¢ied fidS RestriclEd fvnds Not¢s FIXED ASSETS T8ngibl¢ assets Heritage 3ssets 873.342 53.025 873,342 53.025 870.194 46,446 12 926J67 926J67 916,640 CURRENT ASSETS Stocks Debtors.. amounts falling due wiihin one year Debiots.. amounts rling du¢ aft¢r tnor¢ than on¢ y¢Br Cash at bank and hand 13 14 14 14.869 118.347 79,656 162.386 14.869 118,347 79,656 162,695 13,354 32,360 68,866 139,560 3( 375.258 309 375.567 254.140 CREDITORS Amounts lalling du¢ within oney¢ar 185,5121 {85,5121 (20,9071 NET CURRENT A&8ETS 289.746 309 290.055 233.233 TOTAL ASSETS LESS CURRENT LIABILITIES 1216,113 309 1.216.422 1,149,873 CREDITORS Amounts failing due after more than one y 16 {331.5251 1331,5251 {412.8451 NET ASSET5 884.588 309 884,897 737,028 FUNDS Unrestricted funds., Bristol London 19 257,804 476,915 513,435 884,588 734,719 Restricted fttnds.. SakyaNuns 309 2J09 TOTAL FUNDS 884,897 737,028 The charithble company is enliiled to ¢X¢TDPtion from audit und¢T S¢ction 477 of the Comp1¢5 Act 2006 for the yw ¢ndtd 31 De¢ember2023. The membets have not reqU¢d thc company to obtain audit of it8 financial sta*meJ)ts for Ihc year endcd 31 Dcccmbcr 2023 D) aCCOTdan¢e with Section 476of the Companies Act 2006. The aoknowledge theirresponsibilities foT la) ensuring that the chaTitsble CDtnpany keeps account8 tecords thai ¢Dtnply with SEclioDS 386 and 387 of the Companie5 Act 2006 and pparing financial stat¢m¢nts which give a tTr and fair vtew of th¢ state olaffairs of the charitable company as at the end of ¢a¢h financial yw And of its Surplus or d¢ficil for ¢Bch fmanciaj Ye in a¢cordan¢¢ with the requirements of Sections 394 and 395 and which othenvise comply with the wu]reMlS of the Companies Act 2006 relating to fu]ancial statements. $0 far Bs applicable to the chaTitable cowany. (bl The nDtes ft>Thipart of these financial statem¢nts Page 8 continued...
Dechen Buddh15m numbcr.. 09344(X)9 Balance lieel- continued l December 2023 These finattcia] slatetnents hBve b¢en pr¢p3r¢d in acwr(tsnc¢ with th¢ provisions BFplicabl¢ lo charitsble companie5 subject to th¢ small conw1¢5 regune. The financial 8t&t¢ments w¢re 8PPTov¢d by th¢ Board of and authori5 for issu¢ on 29 July 2024 and were signed on its behalf by.. Mr C S RoBets- Tnzstee Th¢ notes forni partofth¢s¢ finaDcial stat¢m¢Dts Page 9
Dechen Bud Notes I the Financial Siaiernenis for the Year Endert 31 Dt£¢mixr 20 ACCOUNTING POLICIES BaslB of preparlng the financial stateweots Th¢ fnanCIal statettwjts of the challlable co]npany, which is a public benefit entity under FRS 102, havE been ptepaied accordante wilh the Charities SORP (FRS 1021 'Accounling and Reporting by Charilies.. staMent of Recommended Pia¢ii¢e applicabl¢ lo charities preparing the accoLtnts in accordance wilh the Financial Reporting Stsndard applicable in the UK attd Republic of Ireland IFRS 1021 l¢ffeclive l JBnvary 20191,, Financial Repothng Standard 102 The Financial Reporting StBndard applirdble in the UK and Republic of Ireland, and the Companies Act 2006. The financial Slate[[MIs havebBen prepared under the historical costconveniion. The financi81 stateuKnts 8fE prepared ip st¢rliDg whicb 15 th¢ functional cuTr¢n¢y of th¢ charity and Bre rounded to the n¢8r¢st TheTte¢S consider that th¢r¢ no mat¢rial uncertginti¢s at<)ut theciwitys ability to continue as 8going conc¢rn. In¢ome All income is Tecogni5ed in the State]nenl of FinanEial ArtiTrities once the charity enlidement to the fiu]ds, it is PtDbable th&t the u]wttte will bereceived and theamount can be measured reliably. Donations are r¢cogni5ryJ on r¢¢eipl. PrLK¢dur¢s ar¢ ID pl¢t0 ¢D5ur¢thecompl¢t¢negs of incorn¢. Shop artd catsringincomc is accounted foron acash receivedbasi5. GraAts and legacies are accounted foronce the chaTity ttiffied of its legBJ ¢ntitl¢m¢nl and the smounl du EXpedIre Liabilities are recognised expendiknre as soon as there is a legal or con$ttuEtive obli8aliort ¢ommillin8 the charity io thai expendiwre, it Is probabl¢ that a transfer of ¢¢onomi¢ b¢nefits will be required in seulem¢nt and th¢ amount of the obligation can b¢ musur¢d r¢liably. Expenditure is accounted for on Bn Bccruals bgsi5 gnd h85 been classified under head5 that aggregalE all cost reled to the category. Where costs ¢annoi di¢t[Y attiibuled to particular headings they have been allocad to aaivities on a bgsi5 consisteni with the of resouTttS. Gr8nts offered Subject to conditions which have not ken Tnel kt the year end date Bre noted 35 & cottllnitsnei]I bul not accrlled 3s expenditLJre. Alloc*tlon of 5UPPOrt cost5 Support costs 8r¢ those fvncti0Tr5 that assist th¢ Work of the charity but th> not directly undertake ChlIable aclivili¢& Support costs iDElude fitwKe attd governance costs which support theTrSe5 Buddbist centre ttwRge]Dent activities. Tllngible fixed assets DeprBcialiort isprovided al the following annual rates in orderw write otFeach assetover its estimate4J usehl life. Freehold PTop¢ty Fixtures and fillings Cornputerequiptneni not provid¢d 15% on reducing balance 15¥0 Ortreduc8 balan¢e The Trust's land and buildings &re not d¢pr¢cialed as the Tn]5t¢¢s consider they are well maintained 1 in good Tepair 8nd any re8uliin8depreciation WDuid bE immaterial. Herltgge ll5sets Heritage a5se15 which are nort-moneiary assets held for devotional purposes aTe Tecognised OD the balan¢e theet and initially easured ai c08t when purchased or if thMad. their valuation. Assets a subsequently staled ai cost or valuation less a¢Cumulad impainnent losses. The artefa¢ls ar¢ not depreciaied as their value is Consider to bc in linc with the original C081. Stocks Stocks are valued at the lower of c05t and tt Te4li5ablc value, after due allowance foi ob501Ete aj slow tDOVll iLEms. Donated stocks are staled atmark¢t value. TAXatton The charity is exempt from COOratIon tax on ils charitsble8clivities. Page 10 Contlled...
Notes 10 the Financial Siaiements- coniinued for lh¢ YearEnd¢d 31 D¢c¢mb¢r 2023 ACCOUNTINC POLICIES- continued Fund accounting Unrestri¢ted fithds can be used in a¢cordance with th¢ ehBritBbl¢ objectives ai the discTetion of the trustees. R¢Btrict¢d funds can only be u8¢d for particular tE5triclEd purpose5 within the objects of the charity. RestFiciions atisE when specified by the donor or when ndS ar¢ T8i5ed forparti¢uiar restri¢id putW5¢S. Further explanaiion olthe nature and pUOsE of each fund is llKluded in the note8to the financial Statement Donated goDd& senlces or fac115tles Donated goods, services or fBciliti¢S T¢cogni8ed as fftMe when the charity has control over the item, any collditioI Sociated with the donated item have been mel, th¢ r¢c¢ipl of ¢conomi¢ bEllefit frotn the use by the charity of the item is ptobable and that economic benefit can be Tnea5WEd reliably. On rec¢ipl, donated serviEes and facibties are Tecognised on th¢ basis of the value of the gift to the charity whiEh 55 the amount the charity would have been willing 10 pay to obtain servic¢5 gr facilities of eqllivalent ¢conomic b¢n¢fii on the open market," a cotte5ponding gmowit is then recow5¢d in ¢xpettd1tLe in theperiod of receipt. In accordance with the Charities SORP IFRS 102}. the BeneAI voluDle¢r time of 5upponers is not recwised (refer to the Trust$. aDnual report for infonnalion about their contribution). Debtors Debtors are re¢ognised at Ibe $¢ttltsllenl at[untdUe. Prepayment5 Valed ai the amount pwai(L Ca5b at bank In hand Rsh Bl bank and cash in hand includes cash and short mi highly liquid investments with a short maturity of three OnthS or less frotll the date of acquisitionoropenin8 ofth¢dcposit Orsimilar accoun Credl¢ors alld provlslons Creditors and provisions are recognised wherE the charity has B PT¢5¢nt obligation resulting from a pasi eveni that wiu normally resuli in thB ts3nsfer of fijnds lo a third party and the amount due 10 settle th¢ obligation can be measwed or estillted teliably. CtedilOt5 a[ PTOViSiOllS are normally r¢cogni8¢d at their settlement an]ount. Flnan¢ll Instruments Th¢ twst only has financial assets an(f financial liabilities of a kind dRI qualify &s b38ic flnancial insttvments. Basic fiDanci&l instru]nents are initigjly recop]ised at tranwction value and subsequently n]*dsured&t their 5ettl¢m¢nl valu¢. DONATIONS AND LEGACIL8 31.12.23 31.1222 Don8lioDs Legacies 64.000 100,(K)o 71.095 71.820 l(A,(M)O 142,915 OTHER TRADING ACTIVITIES 31.12.23 31.12.22 Shop incomE 9,021 5.229 P88¢ 11 CODtinue¢l..
Noies 10 Ihe Financial SiaiemenlS- Continued for th¢ Year Ended 31 Dc¢emb¢r 2023 31.12.22 Renu8 received Loan tntrresl 560 5.064 452 2.852 5.624 3J04 INCOME FROM CHAIUTABLE ACTlVtTtES 31.12.23 31.12.22 Activity Courses CouTse fees 16,357 47,124 CHARITABLE ACTMTIES COSTS Grant tundingof Suprort C0S15 (see note 71 Costs Tola Buddhist centrE admillistr&tion COU¢5 Qrgnts to other centre 38,075 38.075 15,970 10.320 15.970 IOJ20 15.970 10.320 38,075 64.365 SUPPORT COSTS Mane]&t Flle Othei costs TotaL4 Buddhistc¢ntr¢administration 18.601 3,920 1,440 38,075 The charity did not 7p10Y 8ny pald staff. SuppDrtC05ts, included the &bove, aT¢ as follow5.. MnAgement 31.12.23 Buddhist centr¢ ad[istrati0n 31.11.22 Total &ctivities Rates and water Insurdnc¢ Light and heal Telephone Postage and staiionery Adv¢rting Sundri¢s Repa$ and tnaitttenance 14091 2.913 6205 1.821 240 lJ22 835 5,292 3.286 3.702 1,727 842 1.033 553 1.995 18,430 Page 12 continued..
Buddhism Limited Note5 to IhB Financial SLilemenls- c for the YearEnded 31 DecetnbBr 2023 SUPPORT COSTS-tonrfrtued FlnAllce 31.12.23 Buddhist c¢ntre adtninistration 31.12.22 Total activities Bat& charges Bank loan interest 834 17,767 718 16,652 18,601 17,370 Other 31.12.23 Buddhist cemtre administraiioi] 31.12.22 Totsl &Gtivities Depreciation oftsngible fiXed&$ts 3.920 3J64 Governgnfe costs 31.12.23 Buddhist centr¢ administratio 31.12.22 Total activities Indepetthnl eXa[n¢S fee5 Professional lees 1,440 1,440 650 1,440 2.090 NET INCOMEIIEXPENDITUREI Net incotn&lexpBnditurel is stat¢daftercharBintylrTedititwl'. 31.12.23 31.12.22 Depreciatiott. OW[ 95sets 3,919 3.363 TRUSTEES, REMUNERATION AND BENEFtTS Th¢r¢ w¢r¢ twstees, remuneration or other ben¢fits f(kr the year ended 31 D¢¢¢mber 2023 nor for the YUT ¢nd¢d 31 DecetnbEr2022. Trustees, txpert8es TheT¢w¢rno tru8tees' exnseS paid forth¢ y¢8r¢nd¢d 31 Dccember 2023 nor forthe year ended 31 DeGettthKr2022. COMPARATtVES FOR THE STATEMENf OF FtNANCIAL ACTIVITIES UnTe5trict¢d funds Restricted funds Totsl fimds INCOME AND ENDOI*MNTS FROM Donations and legacies 142,915 142.915 Charitable actlvltiei CouTS¢S 47,124 47.124 Other trading &cliviti¢s Investtnenl icoMe Oiher income 5,229 3.304 5229 3,304 Tota] 198,577 198,577 Pa8¢ 13 continued...
a Dechen Buddhistn Litnited le5 1 the Fin3nci&l Slat¢m¢ ts- coniinued for the Year Ended 31 Decernber2023 io. COMPARATIVES FOR THE STATEME14T OF FtNANCLIL ACTtNqTIES. ¢ontlnued Unrestricted fia5 Restitcted fund5 Total fiLnds EXPENDITURE ON Raising lunds 2,369 2.369 Charitsble activitie$ Buddhist centre adrninistration Courses Grant8 loothercentres 41254 31,726 6.724 41.254 31,726 6.724 Totsl 82,073 82,073 NET INCOME 116.504 116,504 RECONCILIATJON OF FUNDS Total funds brought foTrvard 618,215 2,3(Yg 620.524 734,719 2.309 737,028 ii. TANCIBLE FIXTD ASSETS Fixtures Freehold Computrr uipment fittinES TotaLs COST Al l January 2023 Additions 851,130 38,125 6,068 477 999 889,732 7.067 At 31 Detett]ber 2023 851.130 44,193 1.476 896,799 DEPRECIATION At l January 2023 Charge for year 19,274 3.737 264 182 19.538 3.919 Al 31 December2023 23.011 446 23.457 NET BOOK VALUE Al 31 December 2023 851.130 21,182 1.030 873,342 At 31 D¢c¢rnber 2022 851,130 18,851 213 870.194 12. HERITAGE ASSETS Heritage assets constst of Teligious artefad8 including staNes and paintings which are held for devoliooal putPD5es. kncss is p¢rmitted to all visitors lo the centres. Heritage asselg purcb3sed are sl&ted 31 cost, whilE donated itellJs are 5tsted ai markei value at the titlle of the gilL. thcy are ooi depiecialed as theirvalue is considered to be at least the oiiginal cosL Such objects are qUIred as needed, and Subject lo th¢ Bpproval of the Board of Trustees. They are maintained in good OTder volwil¢ers and an inventory is kept for surce and administrative puwses. To dale, none of the heritage assets aEquired by the chBrity hav¢ been disp08ed of. and it is nol 3nlicipated that they would ev be. The cosi of acquisition of such assets purchased over the last fiveyears is as follow8.. 2023- £6,579 2022 - £8,038 Pag¢ 14 n11ted...
Note8 10 IheFinancial Stsi¢ments- continued for th¢ Y¢arEnd¢d 31 D¢¢¢mb¢r 2023 12. HERITACE ASSETS. conti]Jued 2021-NIL 2020- NtL 2019-£11,QOI Value of assets acquired by donation.. 2019 to 2023.. NIL No heritHge a55els have been disposed ofduring the last five years. 13. STOCKS 31.12.23 31.12.22 Stocks DonaiEd $lo¢k 8,414 4,940 4,058 14,869 13,354 14. DEBTORS 31.12.23 31.12.22 Amounts falling wthin one year. Other debtors Thinley Rinch¢n Ling Tnt - loan forFftrtce< l year Ptep&y]nents 105.690 6,958 5,699 23.775 1.974 6.611 118.347 32.360 Amounts f&llinE due after more than one yegr.. Thinley Rinchen Ling TNSI - loan for FAnce > l ye3r 79.656 68.866 Aggregdle atnounts 198,(K13 101,226 Debtor5 include £86.61312022.. £70.8401 prenting a loan receivable frotnThiDley Rinchen Ling TrusL IS. CREDITORS: AMOUNTS FALLG DUE IVITHIN ONE YEAR 31.12.23 31.12.22 Bank loBn5 End overdrnfts Isee note 171 TTad¢ cr¢ditQT5 A¢¢rued expenses 81,478 2,434 14,918 1,283 4,706 85,512 20,907 Pag¢ 15 continued..
nBu Notes 10 lh¢ Financi31 slatcnts- wniinued for Ihc Year Ended 31 D¢c¢mb¢r 2023 16. CREDITORS.. AMOUNtS FALLING DUE AFTER MORE THAN ONE ITAR 31.12.23 31.12.22 Bank loans Is¢¢ note 171 Other loan5 (5¢¢ note 171 323.525 404.845 8.000 331.525 412,845 17. LOANS Att analysis ofthe matLrrity of loans is Biven below.. 31.12.23 31.12.22 Amounts falIing due Mthi]J ofte yeaT Ort de]nand.. Bank loans 81.478 14.918 A]Dounts falling betweert one andtwoyears.. Bank Is- 1-2 years 13.945 Atnounts falling due bEtw¢en two and fiv¢year5'. Bank loans- 2-5 yeats 45.091 50,621 Atnounts falling due inmorthan five years". Repayable by instabnents.. Bank loans more 5 yr by instal Rep&yable otherwise than by inslalments.. Otber loans tnore 5yts non-in5t 264,489 338,687 8,(M)O 18. SECURED DEBTS The following 5e¢uRd debts aTe cluded wth2n CT¢dilors'. 31.12.23 31.12.22 BaDk loa#s 405.003 419.763 The bank loans are secured by fixed char5 over th¢ charitys properties in Chcp5tow Road. Notting Hill Hnd Somm¢rvill¢ Road, Bri5101 and by a tl(Rling chaTge over the charity5 Qther a$ts. 19. MOVEMENT tN FUNDS Net movwn¢nt fund5 At Ai 1.1.23 Unre5trtcted fund5 Bristol Londo 257.804 476.915 113,349 36,520 371,153 513.435 734,719 149.869 884,588 Restrlcted fwnd5 Sakya Nw5 2,309 {2,(Wl 309 TOTAL FUNDS 737,028 147.869 884.897 PaEe 16 coniinu&l...
Noies 10 Ihe Financial Sia*ments- continue41 for the Y¢arEiid¢d 31 December 2023 19. MOVEMENT IN FUNDS_ contillued Nei movement in funds. included u) tIK above are follows.. Incomin8 [egoueS lie50urc&q expended MovemEnt in funds Unrestritted fthnds Bri8tol London 147,707 70,813 134,358} 134,293} 113,349 36,520 218.520 168.6511 149.869 Restrttted fulld8 SakyaNuns {2,(K)01 12.0(K)I TOTAL FUNDS 218,520 170.6511 147.869 Comp8rAtives for movement In funds Net movement in funds TraDsfers between funds At 31.12.22 Al 1.1.22 UnTestrirted fud$ Bristol DdoJJ 248J09 369.906 10,380 106,124 18851 885 257,804 476,915 618,215 116,504 734,719 Restrlctcd Sakya Nuns 2,309 2J09 TOTAL FUNDS 620,524 116,504 737,028 Comparnttve net movement in fvnds, included theaknve as follow5.' coming resouTces Resources expendEd Movemellt in funds Unrc5trlcted funds Bri8[ London 134,2841 147,7891 10,380 106,124 198.577 182,0731 116,504 TOTAL FUNDS 198,577 182,073) 116,504 P&ge 17 CODti[lld...
a De¢h Buddhism Limited Notes lo the Financial Slate onlinued for Ihe Year Ended 31 Decetnber 202 19. MOVEMENT IN FUNDS- continued A current year 12 tnonths 8nd prior yeaT 12 t[nIS ¢otnbined position ts follows.. Net movement in fvnds Trdllsfers betwee At 31.12.23 Al 1.1.22 Unrestrjeted futtds Bristol London 248,309 369.906 123,729 142,644 18851 885 371,153 513,435 618.215 266.373 884,588 Restried 1)d$ SakyaNuns 2,309 12,(KKJI 309 TOTAL FUNDS 620,524 264J73 884.897 A current year 12 months attd prior yeHr 12 months combilled netTnovetn¢nt in funds. included in the abov¢ are 8s follows.. Incotning resources Resources expended Movement in fijnds UDrestrf¢ted funds Bristol London 192,371 224.726 168,6421 182,0821 123,729 142,644 417.097 {150.7241 266.373 Restricted fvnds S3kya Nuns (2.(ml 12,0001 417.097 1152,7241 264,373 Each of the unrestricted funds, des7ted as 'Brislol 8nd "Londoo" Tepresent th¢ financial a¢tTVlties and nel Sets allocakd by the TtuslEes lo the respective operating be5 established by the Tn1 in those locations. Occasional transfers made between the unrestricted funds as delemiined by1heTnteeS frorn tim¢ lo line. The restticted fi]nd balance repT¢8enis the balance of mon¢y raised in a preOuS year by gn appeal ID SUPPDrt Ibe Sakya Nuns, College in Manduwala, I]Klia. The balance of £309 is carried forward on Ibis fund to b¢ pid over in a forthcoming year. RELATED PARTY DISCLOSURKS As at 31st December 2023 ihe charity wa5 owed th¢ sum of £86.613 {2022.. £70,840 by Thinley RinEhen Ling Trust ITRLTI. TegisleTed charity, the majority of whose Ttee5 ar¢ $0 TTrteeS of Sakya Dechen Buddhism Lid. tntetE51 is pay&bl¢ on this loaD ai Ibe Trte of 4.3/0 p.a. variable The loatt is UDUred and for aperi(Ml of25 yeArs from 17.11.2016. Sakya Dechen Buddhism Ltd w35 created lo incorpotate the activities of TRLT into a chlIable wmpany, bmitsd by gL23fdntee, in ke¢ping with th¢ guidance of the Charities Commtssion. No conflict ol interest is deemed to exist with respect 10 the transactions between these parties. The charity made 8tant5 to Kw D¢chen Buddhism Ltd IKDBI 8mounts.ng 10 £5.208 12022 - £3.7081. KDB is a relllted patygs three of the Trustee5 of the chBrity gre also Tntse$ of KDB Iwhich is itself a reste[Ed chlty). The charity recEiv¢d a lo 01£8,0(M) during 2018 from TRLT. inteTest-fice with no fiK¢d date of repaytnenl wbich is still outsiattding.. Unrestn¢led donations ttLRde by Tte¢S (ti]ring the yearaEttoullted lo £17,10012022.. £20.4501. Page 18 ntinu¢d...
a De¢hen Buddhism Limiied Notes to the Financial Siatetnents- continued FOT the Year Ended 31 DecembeT 2023 21. COMPANY LITED BY GUARANTE Th¢ charity is B private company liinited by guarantee having no 5hHre capital and, in accordance with Ihe memorandu of A5S(Ki&tion, every member 15 li&ble to contribut £1 towards the ¢05ts of dissolution and liabilities incurred by th¢ charity in the eveni ofihe company being wound up. Page 19