## **MAHAMEVNAWA MEDITATION CENTRE UK ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED** ## **31 MARCH 2022** Registered Charity Number 1165899 10 Coronation Drive, WIDNES, Cheshire WA8 8AY http://www.buddhameditation.uk/ ## **MAHAMEVNAWA MEDITATION CENTRE UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **Contents** Pages Description - 3 - 4 Report of the Trustees - 5 Independent Examiner’s Report - 6 Statement of Financial Activities - 7 Balance Sheet - 8 Cash Flow Statement - 9-10 Principal Accounting Policies - 11-13 Notes to the Accounts Page **2** ## **MAHAMEVNAWA MEDITATION CENTRE UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **REPORT OF THE TRUSTEES** The Trustees of the Mahamevnawa International Meditation Centre present their report with the financial statements of the Charity for the period ended 31 March 2022. ## **Mahamevnawa Meditation Centre UK Trustees** |B V Indika Hemantha Premarthna|Trustee-Secretary| |---|---| |E M Amila Sanjeewa Edirisinghe|Trustee-Treasurer| |Sembukutti Arachchilage De Silva|Trustee-Chairman| ## **Legal Advisor** Mrs Ramani Gunasekera - LLB, Nandy & Co Solicitors, 62 Woodgrange Road, Forest Gate, London E7 0Qh ## **Independent Examiner** Lal Ranasinghe - B Com (Hons), ACMA, CGMA, ASA ## **Governance Structure:** The Mahamevmawa Meditation Centre UK is a registered Charity in the UK (Registration number 1165899). It is governed by the Constitution, first adopted on 17 May 2015 and amended on 27 February 2016. ## **The Charity’s Objects are as follows** To advance the Theravada Buddhist religion for the public benefit in accordance with the doctrines and principles of Buddhist faith. ## **Volunteers** The Charity owes a great debt to the volunteers who supported it through a vast range of activities in order to promote the charity’s objectives. The Trustees owe a great debt to all those who supported the Charity - may they realise the Four Noble Truths. Page **3** MAHAMEVNAWA MEDITATION CENTRE UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Statement of T￿￿teaS Responsibiliti Thè Trustees of the MahamevnTha Medriation Centre UK are reSp(￿sIb￿ for weparing the Report of the Trustees and the Financial Statements in ￿OrdanCe wrth applicab￿ law and Unrted Kingdom ACcOur￿ng Stsndards (Unrted Kingdom Generally Accepied Accounthng Practic8). The Trustees are lo prepare financial statements for eath financial yew. In preparing those financial statements, the Twslees are required to: Select surtable accounting poliGies and then appty them consistently: Obser¥e the methods and prinaples in the Charty SORP., Make judgements and estimates that are re&8onable and prudent., Identfy rf the Charty is able to pay bills, nvoictis. thargas or m88t othèr liabilitiès a$ they fall due- going concem., The Trustees ar8 responsible for keeping proper accounting records ￿￿ch disclose, with reasonable actsJracy, the financial p)srti)n of the Charity. Thoy are also responsible for safeguarding the assets of the Charrty. Insofar as the Trustees we aware.. There is no relevant inf0m￿lon of the tharrty's Independent Examiner 18 unaware., and The Trustees have laken dl sleps they ought to have taken to make themselves aware of any relevant ￿ountIng inf0m￿li0n and to establish that the Independent Examiner w aware of that jnfomWM. Acknowlodg•m•nts The Trustees wi$h to extend their th￿kS to all the Vo￿nte￿$, supporters and donors of The Mahamovnawa Intemational Meditation Centre have continued its th by thair interest and generosty. Approved by the Trustee• and slgned on thelr behalf by: Sembukutti Ar¥hchilage De si￿8 E M Amila Saniev4¥ dirisi19he Trustee- ChaKman TTUStee- Treasurer Apkyoved on 22 January 2023 Page 4 ## **MAHAMEVNAWA MEDITATION CENTRE UK ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2022** ## **REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF THE MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE** I report to the trustees on my examination of the accounts of the Mahamevnawa Meditation Centre UK for the year ended 31 March 2022 which comprise of the Statement of Financial Activities, Charity Balance Sheet, Cash Flow Statement and related notes. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Charitiy’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ………………………………… Lal Ranasinghe – B. Com (Hons), ACMA, CGMA, ASA 113 Barnstaple Road, Southend-on-Sea, Essex, SS1 3PN 23 January 2023 Page **5** ## MAHAMEVNAWA MEDITATION CENTER UK (Charity Number: 1165899) ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022 |Note
**INCOME:**
Donations
Gift Aid
Other Income
TOTAL INCOME
**EXPENDITURE:**
Utility, Maintenance and Interest
2
Programmed Activities
3
Travelling & Vehicle Costs
4
TOTAL EXPENDITURE
**NET MOVEMENTS IN FUNDS**
Fund balances brought forward at 1st April
Fund balance carried forward at 31st March|Unrestricted
funds
Restricted
funds
Total
31 March
2022
31 March
2022
31 March
2022
£
£
£|Unrestricted
funds
Restricted
funds
Total| |---|---|---| |||31 March
2021
31 March
2021
31 March
2021| |||£
£
£| ||76,214
-
76,214
9,644
-
9,644
-
-
-|29,119
-
29,119| |||5,422
-
5,422| |||-
-
-| |||| ||85,858
-
85,858|34,541
-
34,541| |||| |||| ||(36,553)
-
(36,553)|(26,011)
-
(26,011)| ||(2,385)
-
(2,385)
(1,493)
-
(1,493)|(2,165)
-
(2,165)| |||-
-
-| |||| ||(40,431)
-
(40,431)|(28,176)
-
(28,176)| ||45,427
-
45,427
78,008
-
78,008|| |||6,365
-
6,365| |||| |||71,643
-
71,643| |||| ||123,435
-
123,435|78,008
-
78,008| The notes on pages 9 to 13 form part of these accounts Page 6 MAHAMEVNAWA MEDITATION cEl￿ER UK (Charily Number.. 11658991 BALANCE SHEET AS AT 31 MARCH 2022 Nole Amthjni 31.M*-22 31-m￿-21 FIXED ASSETS: Freehold Properties 176.086 182.125 Fixtures & Fittirt84 Motor VehiclA Equipment 12.6fAI 17.780 Tgngible Fixed Assets 188.776 I99,￿5 CURRENT ASSKTS Debtors 5.422 Cash at bank and in hand 60.020 2.291 Totsl Current Assets 60,020 7,713 CURRENT LIABILITIES Creditors fallLnB due wthin one year NET CURRENT ASSETS 60,020 7.713 LONG TERM LIABILITIES Creditors fdlin¥ due after more than one year 125.361 129.610 NET ASSETS 123.435 78.(K>8 FUNDS: Unr¢striet¢d Fund 123,435 78.¢X)8 Restrieied Funds TOTAL FUNDS 123,435 78,(K)8 The financial statements on p48e$ 6 to 13 were approved by the Tn￿le¢S on 22 janU￿y 2023 and signed on their behalf by". Sembukutti ArachchilaBe De silva E M Amila SanJ¢ewa Ediri$in8he Trustee . Chairnwi TTu#ee- Treasurer The nole5 on pages 9 to 13 fomi part of th&qe XCo￿ts Page 7 ## MAHAMEVNAWA MEDITATION CENTER UK (Charity Number: 1165899) ## CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022 |Note
Net income / (expenditure) for the reporting period
Adjustments for:
Depreciation
(Increase) / Decrease in debtors
(Decrease) / Increase in creditors
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Purchase of fixed assets
Proceeds from sale of fixed assets
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the reporting period
10
Cash and cash equivalents at the beginning of the reporting period
10
Cash and cash equivalents at the end of the reporting period
10|31-Mar-22
£
45,427
11,129
5,422
(4,249)
57,729
-
-
-
57,729
2,291
60,020|31-Mar-21
£| |---|---|---| |||6,365
11,128
(5,422)
(1,711)| |||10,360| |||(12,564)
-| |||(12,564)| |||(2,204)
4,495| |||2,291| Page 8 ## MAHAMEVNAWA MEDITATION CENTER UK (Charity Number: 1165899) NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31ST MARCH 2022 ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: - (a) The Financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts. Charity's assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). - (b) The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. - (c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. - (d) Expenditure and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## (e) Funds Funds held by the Charity are: - 1 Unrestricted funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. - 2 Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes. Page 9 ## MAHAMEVNAWA MEDITATION CENTER UK (Charity Number: 1165899) ## NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31ST MARCH 2022 ## **1. ACCOUNTING POLICIES (CONTINUED)** ## (f) Debtors Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. - (g) Cash at Bank and in Hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar accounts. ## (h) Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. - (i) Depreciation: Tangible fixed assets have been capitalised at cost or acquisition value and where assets have been donated, at their value at date of receipt. Depreciation on freehold properties is provided on a streight line basis, at the rate of 4% (Building Fabric), 5% (Roof, Electrical and Mechanical) and 7% (Windows) per annum, in line with the Component Accounting. Motor vehicles and Computers & equipment are depreciated on a straight line basis at a rate of 25% per annum and furniture & equipment are depreciated at 20% on a straight line basis for items which exceed £3,000 in value, individually or for groups of related assets. Page 10 ## MAHAMEVNAWA INTERNATIONAL MEDITATION CENTRE ## NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31ST MARCH 2022 |**2. Utilities and Maintenance**
Rent and Rates
Utilities
Other Maintenance Costs
Depreciation
Mortgage Interest
Total
**3. Dhamma Programmed Activity**
Hall Hire and Event cost
Books and Publications
Dhamma Promotion
Total
**4. Travelling and Vehicle Cost**
Travelling Including Air Fare
Vehicle Expenses
Total|31-Mar-21
£
1,354
4,908
13,097
11,129
6,065
36,553
1,845
540
-
2,385
1,493
-
1,493|31-Mar-21
£| |---|---|---| |||1,275| |||5,577| |||1,807| |||11,128| |||6,224| |||| |||26,011| |||| |||2,165| |||-| |||-| |||| |||2,165| |||| |||-| |||-| |||| |||-| ## **5. Employees and Trustee Cost** The Charity does not employ permanent or temporary staff as it is run by volunteers. Therefore, no employee related payments, such as salaries, bonus, pension, NI etc. were made during the year (2020/21 - £nil). No payments were made to Trustees during the year (2020/21 - £nil). Page 11 ## MAHAMEVNAWA MEDITATION CENTER UK ## NOTES TO THE FINANCIAL STATEMENTS ## AS AT 31 MARCH 2022 |**6. Tangible Fixed Assets**
Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
**Cost:**
As at 31 March 2021
60,000
134,203
-
12,564
12,883
219,649
Additions
-
-
-
-
-
-
Disposals
-
-
-
-
-
-
As at 31 March 2022
60,000
134,203
-
12,564
12,883
219,649
**Depreciation:**
As at 31 March 2021
-
(12,078)
-
(2,512)
(5,154)
(19,744)
Charge for the year
-
(6,039)
-
(2,513)
(2,577)
(11,129)
Disposals
-
-
-
-
-
-
As at 31 March 2022
-
(18,117)
-
(5,025)
(7,731)
(30,873)
**Net Book Value**
As at 31 March 2021
60,000
122,125
-
10,052
7,729
199,905
As at 31 March 2022
60,000
116,086
-
7,539
5,152
188,776
**7. Debtors and Stocks**
2021/22
2020/21
£
£
Refundable Deposits
-
-
Other Receivable
-
5,422
Stocks
-
-
Total Debtors
-
5,422
**8. Long Term Liabilities**
**Creditors falling due after more than one year**
2021/22
2020/21
£
£
Opening Balance
129,610
131,322
Additions
-
-
Repayments
(4,249)
(1,712)
Closing Balance
125,361
129,610
**9. Accumulated Fund**
2021/22
2020/21
Unrestricted Restricted
Total
Total
£
£
£
£
Opening Balance
78,008
-
78,008
71,643
Net movement in funds
45,427
-
45,427
6,365
Closing Balance
123,435
-
123,435
78,008|Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
60,000
134,203
-
12,564
12,883
219,649
-
-
-
-
-
-
-
-
-
-
-
-|Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
60,000
134,203
-
12,564
12,883
219,649
-
-
-
-
-
-
-
-
-
-
-
-|Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
60,000
134,203
-
12,564
12,883
219,649
-
-
-
-
-
-
-
-
-
-
-
-| |---|---|---|---| ||60,000
134,203
-
12,564
12,883
219,649||| ||-
(12,078)
-
(2,512)
(5,154)
(19,744)
-
(6,039)
-
(2,513)
(2,577)
(11,129)
-
-
-
-
-
-||| ||-
(18,117)
-
(5,025)
(7,731)
(30,873)||| ||||| ||60,000
122,125|-
10,052|7,729
199,905| ||60,000
116,086|-
7,539|5,152
188,776| |||2021/22
£
-
-
-
-
2021/22
£
129,610
-
(4,249)
125,361
2021/22
Total
£
78,008
45,427
123,435|2020/21
£
-
5,422
-
5,422
2020/21
£
131,322
-
(1,712)
129,610
2020/21
Total
£
71,643
6,365
78,008| ||123,435
-||| Page 12 ## MAHAMEVNAWA MEDITATION CENTER UK (Charity Number: 1165899) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 ## **10. NOTES TO CASH FLOW STATEMENT** ANALYSIS OF CASH AND CASH EQUIVALENT |Cash at bank and in hand
Short term deposits
Loans
Cash and cash equivalent|At 31st
March
2021
£'000
2,291
-
-
2,291|Cash flow
£'000
57,729
-
-
57,729|At 31st
March| |---|---|---|---| ||||2021
£'000| ||||60,020
-
-| ||||60,020| ## **11. Post Balance Sheet Events** The Trustees have evaluated the impact of the pandemic on the operations of the charity and do not consider there to be any going concern issues and for this reason the financial statements have been prepared on a going concern basis. Page 13