CHARITY REGISTRATION NUMBER: 1166945
Wat Matchimaram UK
Unaudited Financial Statements
20 November 2024
Wat Matchimaram UK
Financial Statements
Year ended 20 November 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Wat Matchimaram UK
Trustees' Annual Report
Year ended 20 November 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 20 November 2024.
Reference and administrative details
Registered charity name Wat Matchimaram UK Charity registration number 1166945 Principal office Londesboro Terrace LEEDS LS9 9NE United Kingdom
The trustees
Upopron Kunyavatuopong (Chair) Kantinun Lewis Yingsuree Duangmanee Sal Green Sumanus Lawson
Structure, governance and management
Wat Matchimaram UK is a charity registered with the Charity Commission for England and Wales.
Governance
The charity is managed by a board of trustees who are responsible for ensuring compliance with legal obligations, safeguarding assets, and directing the charity's activities in line with its objectives. Trustees are appointed in accordance with the charity's governing document and serve voluntarily without remuneration. Trustee meetings are held regularly to review activities, finances, and strategic direction. Decisions are made collectively, and conflicts of interest are declared and managed in accordance with the charity's policy.
Management
The charity does not employ staff. All activities are carried out by volunteers, including the trustees. Dayto-day operations are overseen by the trustees, with support from community members and lay volunteers who assist with the temple events, fundraising, and administrative tasks.
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Wat Matchimaram UK
Trustees' Annual Report (continued)
Year ended 20 November 2024
Objectives and activities
The charity is established for the public benefit with the following purpose:
1. Advancement of Religion : To promote Thai Buddhist faith, particularly in the Thai tradition, through religious observance, teachings, and spiritual practice.
2. Advancement of Education : To educate the public in Buddhist philosophy, Thai culture, and ethical living through structured learning and informal engagement.
3. Promotion of Community Cohesion : To foster understating and harmony among diverse communities by offering inclusive cultural and interfaith activities.
4. Relief of Poverty and Support for the Vulnerable : To provide charitable support to individuals in need, including food, pastoral care, and social assistance.
Main Activities Undertaken for the Public Benefit
The charity carries out the following activities in furtherance of its objectives:
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Conducts daily chanting, meditation, and Dhamma talks.
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Hosts Buddhist festivals and ceremonies
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Organise workshops on Buddhist ethics, mindfulness, and mental well-being.
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Hosts cultural events open to the public to celebrate Thai heritage and Buddhist values.
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Offers free meals and basic necessities to those experiencing hardship.
Achievements and performance
During the reporting period, the charity continued working toward their objectives and has achieved the following:
Religious and Spiritual Development :
- Increased participation in a daily chanting and meditation. Educational Outreach : Hosted Buddhist ethics and mindfulness workshops.
Community Engagement and Cultural Promotion :
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Successfully organised Buddhist festivals, attracted non-members and local community.
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Welfare and Support Services :
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Provided free meals to individual facing hardship, including low-income families.
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Governance and Financial Stewardship :
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Maintained compliance with Charity Commission reporting and safeguarding standards.
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Wat Matchimaram UK
Trustees' Annual Report (continued)
Year ended 20 November 2024
Financial review (continued) Financial review
Overview
During the financial year ending 20 November 2024, the charity achieved a significant increase in income while maintaining a consistent level of expenditure. This reflects effective fundraising, stronger community support, and improved Gift Aid recovery. This growth enabled the charity to expand its core religious, educational, and welfare services while maintaining financial stability and compliance.
Plans for Future Periods
To ensure long-term sustainability and expand charitable impact, the trustees have developed a proactive funding strategy for the coming year. The aim is to build on the charity's recent income growth while maintaining cost discipline and transparency.
1. Strengthen Community Giving
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Expand digital donation options, including contactless giving and online platforms.
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Promote Gift Aid registration to maximise eligible donations.
2. Expand Fundraising Events
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Enhance the scale and visibility of cultural festivals, with ticketed elements, food stalls, and sponsorship opportunities.
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Host interfaith and wellness retreats with suggested donations to support temple upkeep.
3. Increase Use of Temple Facilities
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Offer hall rental for community events, classes, and ceremonies, with clear pricing and terms.
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Develop paid workshops on Thai cooking, language, and mindfulness, open to the public.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Upoporn Kunuavatuopong (Chair)
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Wat Matchimaram UK
Independent Examiner's Report to the Trustees of Wat Matchimaram UK
Year ended 20 November 2024
I report to the trustees on my examination of the financial statements of Wat Matchimaram UK ('the charity') for the year ended 20 November 2024.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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.
Independent examiner's statement
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
Independent Examiner
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Wat Matchimaram UK
Statement of Financial Activities
Year ended 20 November 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 34,860 | 34,860 | 20,863 |
| Charitable activities | 5 | 45,618 | 45,618 | 17,380 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 80,478 | 80,478 | 38,243 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 41,762 | 41,762 | 41,353 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 41,762 | 41,762 | 41,353 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income/(expenditure) and net movement in funds | 38,716 | 38,716 | (3,110) | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 271,784 | 271,784 | 274,894 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 310,500 | 310,500 | 271,784 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
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Wat Matchimaram UK
Statement of Financial Position
20 November 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 9 | 236,631 | 239,047 |
| Current assets | |||
| Cash at bank and in hand | 73,869 | 32,737 | |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 73,869 | 32,737 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 310,500 | 271,784 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 310,500 | 271,784 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 10 | 310,500 ================================ |
271,784 ================================ |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Uopporn Kunyavatuopong Trustee (Chair)
The notes on pages 7 to 12 form part of these financial statements.
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Wat Matchimaram UK
Notes to the Financial Statements
Year ended 20 November 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Londesboro Terrace, Leeds, LS9 9NE, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified 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 uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked 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: restricted income funds or endowment funds.
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Wat Matchimaram UK
Notes to the Financial Statements (continued)
Year ended 20 November 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
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 to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Wat Matchimaram UK
Notes to the Financial Statements (continued)
Year ended 20 November 2024
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings - 2% straight line Plant and machinery - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit 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 assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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Wat Matchimaram UK
Notes to the Financial Statements (continued)
Year ended 20 November 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations and gifts | 6,179 | 6,179 | 14,935 | 14,935 |
| Gifts | ||||
| Gift Aid | 28,681 | 28,681 | 5,928 | 5,928 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 34,860 | 34,860 | 20,863 | 20,863 | |
| ============================ | ============================ | ============================ | ============================ |
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Wat Matchimaram UK
Notes to the Financial Statements (continued)
Year ended 20 November 2024
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 45,618 | 45,618 | 17,380 | 17,380 |
| ============================ | ============================ | ============================ | ============================ | |
| Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charity management & administration | ||||
| costs | 16,398 | 16,398 | 17,344 | 17,344 |
| Charity running costs | 18,904 | 18,904 | 16,890 | 16,890 |
| Cost of service | 6,460 | 6,460 | 7,119 | 7,119 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 41,762 | 41,762 | 41,353 | 41,353 | |
| ============================ | ============================ | ============================ | ============================ |
6. Expenditure on charitable activities by fund type
7. Expenditure on charitable activities by activity type
| Activities | |||
|---|---|---|---|
| undertaken | Total funds | Total fund | |
| directly | 2024 | 2023 | |
| £ | £ | £ | |
| Charity management & administration costs | 16,398 | 16,398 | 17,344 |
| Charity running costs | 18,904 | 18,904 | 16,890 |
| Cost of service | 6,460 | 6,460 | 7,119 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 41,762 | 41,762 | 41,353 | |
| ============================ | ============================ | ============================ |
8. Trustee remuneration and expenses
The trustees of the charity have served voluntarily. No trustee received any remuneration or other financial benefits during the reporting period.
No expenses reimbursed to trustees incurred during the reporting year.
9. Tangible fixed assets
| Land and | Plant and | ||
|---|---|---|---|
| buildings | machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| At 21 November 2023 and 20 November 2024 | 279,020 | 3,148 | 282,168 |
| ================================ | ======================= | ================================ | |
| Depreciation | |||
| At 21 November 2023 and 20 November 2024 | 45,248 | 289 | 45,537 |
| ================================ | ======================= | ================================ | |
| Carrying amount | |||
| At 20 November 2024 | 233,772 | 2,859 | 236,631 |
| ================================ | ======================= | ================================ | |
| At 20 November 2023 | 239,772 | - | 239,047 |
| ================================ | ======================= | ================================ |
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Wat Matchimaram UK
Notes to the Financial Statements (continued)
Year ended 20 November 2024
10. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 21 | November | 20 | Novembe | |||
| 2023 | Income | Expenditure | r 2024 | |||
| £ | £ | £ | £ | |||
| General funds | 271,784 | 80,478 | (41,762) | 310,500 | ||
| ================================ | ============================ | ============================ | ================================ | |||
| At | At | |||||
| 21 | November | 20 | November | |||
| 2022 | Income | Expenditure | 2023 | |||
| £ | £ | £ | £ | |||
| General funds | 274,894 | 38,243 | (41,353) | 271,784 | ||
| ================================ | ============================ | ============================ | ================================ |
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