## **MAHAMEVNAWA MEDITATION CENTRE UK ANNUAL REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
## **31 MARCH 2023**
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 2023**
## **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 2023**
## **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 2023.
## **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 2023
ststement of Trusteos Responslblllties
The Trustees of the Mahamevnawa Meditation Centre UK are responsible for preparing the
Report of the Trustees and the Financial Stalcments in accordance with applicable law and
Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The Trustees are to prepare financial slatemenls for each financial year. In preparing ihose
financial statements, the Trustees afe required lo:
Select suitable accounting policies and thèn apply them consistently;
Observe the meth¢)ds and principles in the Charity SORP.,
Make judgements and estimates that are reasonable and prudent.,
Identify if the Chatity is able to pay bills, invoices. charges or meet other liabilities as
they fall due- going concem;
The Trustees are responsible for keeping proper accounting records which disclose, with
reasonable accuracy, the financial position of the Charity. They are also responsible for
safeguarding the assets of the Charity.
Insofar as the Trustees are aware..
There is no relevant infomation of which the charity's Independent Examiner is
unaware,. and
The Trustoes have takcn all steps they ought to have taken lo make themselves
aware of any relevant accounting infomiation and to establish that the Independent
Examiner is aware of that information.
Acknowledgements
The Trustees wish to extend their thanks lo all the volunteers, supporters and donors of The
Mahamevnawa International Meditation Cenlre who have continued its work by their interest
and generosity.
Approved by tho Trustees and signed on thelr behalf by:
Sembukutti Arachchilage De silva
E M Amila Sanjeewa Edirisingh8
Trustee-
hairman
Trustee - Treasurer
Approved on 7 January 2024
Page 4
## **MAHAMEVNAWA MEDITATION CENTRE UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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 2023 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
- 7 January 2024
Page **5**
## MAHAMEVNAWA MEDITATION CENTER UK
(Charity Number: 1165899)
## STATEMENT OF FINANCIAL ACTIVITIES
## FOR THE YEAR ENDED 31ST MARCH 2023
|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
2023
31 March
2023
31 March
2023
£
£
£
41,974
-
41,974
13,453
-
13,453
-
-
-
55,427
-
55,427
(42,425)
-
(42,425)
-
-
-
(1,185)
-
(1,185)
(43,610)
-
(43,610)
11,817
-
11,817
123,435
-
123,435
135,252
-
135,252|Unrestricted
funds
Restricted
funds
Total|
|---|---|---|
|||31 March
2022
31 March
2022
31 March
2022|
|||£
£
£|
|||76,214
-
76,214|
|||9,644
-
9,644|
|||-
-
-|
||||
|||85,858
-
85,858|
||||
||||
|||(36,553)
-
(36,553)|
|||(2,385)
-
(2,385)|
|||(1,493)
-
(1,493)|
||||
|||(40,431)
-
(40,431)|
||||
|||45,427
-
45,427|
||||
|||78,008
-
78,008|
||||
|||123,435
-
123,435|
The notes on pages 9 to 13 form part of these accounts
Page 6
MAHAMEVNAWA MEDITATION CENTER UK
Icharity Number.. 11658991
BALANCE SHE
AS AT 31 MARCH 2023
No
Arnount
ADllnt
31-Mar-23
31-Mw-22
FIXED ASSETS:
Ficrhvld Pivprjli
284,979
176,086
Fixtures & Fittings, Motor Vehicles. Equipment
7.601
12.6
Tangible Fixed As5¢ts
292.580
188,776
CURRENT ASSETS
Debtors
C&8h at bank and in hand
22,616
60.020
Total Current Assets
22,616
00.020
CURRENT LIAFILITIES
Creditors falling due thrythin one year
NET CURRENT ASSETS
22.616
60.020
LONG TERM LIABILITIES
Creditors falling du¢ after more than orte y¢ar
125 361
NET ASSETS
135.252
123,435
FUNDS:
Unrestri¢ted Fund
135,252
123,435
Restricted Funds
TOTAL FUNDS
135,252
123.435
The financial statements on pages 6 to 13 were approved by the Tru5t¢es on 7 January 2024
and signed on their behalf by".
Sembukutti Arachchilage De silva
E M Amila Sanjeewa Edirisin8he
Trustee-
Im)an
Trustee- T1¢&8urer
The notes on pa8es 9 to 13 forni part of these a¢counts
Page 7
## MAHAMEVNAWA MEDITATION CENTER UK
(Charity Number: 1165899)
## CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2023
|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-23
£
11,817
15,366
-
54,583
81,766
(119,170)
-
(119,170)
(37,404)
60,020
22,616|31-Mar-22
£|
|---|---|---|
|||45,427
11,129
5,422
(4,249)|
|||57,729|
|||-
-|
|||-|
|||57,729
2,291|
|||60,020|
Page 8
## MAHAMEVNAWA MEDITATION CENTER UK
(Charity Number: 1165899)
NOTES TO THE FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 31ST MARCH 2023
## **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 2023
## **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 2023
|**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-23
£
2,303
6,719
9,528
15,366
8,509
42,425
-
-
-
-
1,185
-
1,185|31-Mar-22
£|
|---|---|---|
|||1,354|
|||4,908|
|||13,097|
|||11,129|
|||6,065|
||||
|||36,553|
||||
|||1,845|
|||540|
|||-|
||||
|||2,385|
||||
|||1,493|
|||-|
||||
|||1,493|
## **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 (2021/22 - £nil).
No payments were made to Trustees during the year (2021/22 - £nil).
Page 11
MAHAMEVNAWA MEDITATION CENTER UK
## NOTES TO THE FINANCIAL STATEMENTS
## AS AT 31 MARCH 2023
|**6. Tangible Fixed Assets**
Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
**Cost:**
As at 31 March 2022
60,000
134,203
-
12,564
12,882
219,649
Additions
25,000
94,170
-
-
-
119,170
Disposals
-
-
-
-
-
-
As at 31 March 2023
85,000
228,373
-
12,564
12,882
338,819
**Depreciation:**
As at 31 March 2021
-
(18,117)
-
(5,025)
(7,731)
(30,873)
Charge for the year
-
(10,277)
-
(2,513)
(2,576)
(15,366)
Disposals
-
-
-
-
-
-
As at 31 March 2023
-
(28,394)
-
(7,538)
(10,307)
(46,239)
**Net Book Value**
As at 31 March 2022
60,000
116,086
-
7,539
5,151
188,776
As at 31 March 2023
85,000
199,979
-
5,026
2,575
292,580
**7. Debtors and Stocks**
2022/23
2021/22
£
£
Refundable Deposits
-
-
Other Receivable
-
-
Stocks
-
-
Total Debtors
-
-
**8. Long Term Liabilities**
**Creditors falling due after more than one year**
2022/23
2021/22
£
£
Opening Balance
125,361
129,610
Additions
60,000
-
Repayments
(5,417)
(4,249)
Closing Balance
179,944
125,361
**9. Accumulated Fund**
2022/23
2021/22
Unrestricted Restricted
Total
Total
£
£
£
£
Opening Balance
123,435
-
123,435
78,008
Net movement in funds
11,817
-
11,817
45,427
Closing Balance
135,252
-
135,252
123,435|Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
60,000
134,203
-
12,564
12,882
219,649
25,000
94,170
-
-
-
119,170
-
-
-
-
-
-|Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
60,000
134,203
-
12,564
12,882
219,649
25,000
94,170
-
-
-
119,170
-
-
-
-
-
-|Freehold
Land
Buildings
Motor
Vehicles
Furniture
& Fittings
Computers
&
Equipment
Total
£
£
£
£
£
£
60,000
134,203
-
12,564
12,882
219,649
25,000
94,170
-
-
-
119,170
-
-
-
-
-
-|
|---|---|---|---|
||85,000
228,373
-
12,564
12,882
338,819|||
||-
(18,117)
-
(5,025)
(7,731)
(30,873)
-
(10,277)
-
(2,513)
(2,576)
(15,366)
-
-
-
-
-
-|||
||-
(28,394)
-
(7,538)
(10,307)
(46,239)|||
|||||
||60,000
116,086|-
7,539|5,151
188,776|
||85,000
199,979|-
5,026|2,575
292,580|
|||2022/23
£
-
-
-
-
2022/23
£
125,361
60,000
(5,417)
179,944
2022/23
Total
£
123,435
11,817
135,252|2021/22
£
-
-
-
-
2021/22
£
129,610
-
(4,249)
125,361
2021/22
Total
£
78,008
45,427
123,435|
||135,252
-|||
Page 12
## MAHAMEVNAWA MEDITATION CENTER UK
(Charity Number: 1165899)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023
## **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
2022
£'000
60,020
-
-
60,020|Cash flow
£'000
(37,404)
-
-
(37,404)|At 31st
March|
|---|---|---|---|
||||2023
£'000|
||||22,616
-
-|
||||22,616|
Page 13