OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

1

Future Dharma Fund

A Charitable Incorporated Organisa9on whose only vo9ng members are its charity trustees

Trustees’ annual report for the period 1[st] January 2021 to 31[st] December 2021

Charity name: Future Dharma Fund Charity number: 1167344

Future Dharma Fund. Charity number: 1167344

2

Future Dharma Fund

Financial Statements

For the Year Ended 31[st] December 2021

Contents: Page:
Legal and Administra>ve Informa>on 3
Trustees Report 4 - 8
Statement of Financial Ac>vi>es
Balance Sheet
Notes forming part of the fnancial statements

Future Dharma Fund. Charity number: 1167344

3

Legal and Administra9ve Informa9on:

Charity Name: Future Dharma Fund Charity Registra>on Number: 1167344

Registered Office and Opera>onal Address: Adhisthana Coddington Court, Coddington Ledbury, Herefordshire HR8 1JL

Trustees in the year ending 31[st] December 2021:

Dr. Paramabandhu Groves (a.k.a. Paramabandhu), represen>ng the Triratna Preceptor’s College Ms. Mary Healy (a.k.a Subhadrama>), represen>ng the Triratna Preceptor’s College

Ms. Robyn Smith (a.k.a. Aryajaya), represen>ng the Triratna Trust (Interna>onal Order Office) Ms. Jvalamalini Bloom (a.k.a. Jvalamalini), represen>ng the Triratna Trust (Interna>onal Order Office) Ms. Nicola Edmonds (a.k.a. Satyajyo>), represen>ng the Triratna European Chair’s Assembly Mr. Eliot Francis Franks (a.k.a. Arthavadin), represen>ng the Triratna Interna>onal Council Ms. Elisabeth Petronella Maria Witschge (a.k.a. Gunabhadri), represen>ng the Triratna European Chair’s Assembly

Mr. Ksan>kara Alexander Green (a.k.a. Ksan>kara), represen>ng the Triratna Trust (Interna>onal Order Office).

Appointments in 2021

Mr. Eliot Francis Franks was appointed on 02/06/2021 represen>ng the Triratna Interna>onal Council.

Ms. Elisabeth Petronella Maria Witschge was appointed on 01/07/2021 represen>ng the Triratna European Chair’s Assembly.

Mr. Ksan>kara Alexander Green was appointed on 14/12/2021 represen>ng the Triratna Trust (Interna>onal Order Office).

Resigna9ons in 2021

Mr. Ian Waddell (a.k.a. Dhammara>), represen>ng the Triratna Interna>onal Council re>red on the 02/06/2021.

Secretary:

Mr Xxx Nandavajra

Bankers:

Coopera>ve Bank, Head Office, PO Box 101, 1 Balloon Street, Manchester, M60 4EP.

Future Dharma Fund. Charity number: 1167344

4

FutureDharma Fund

Trustees Report for the year ended 31[st] December 2021

The trustees present their report and financial statements for the year ended 31st December 2021.

Objec9ves and Ac9vi9es

The Object of the CIO is, for the public benefit, the advancement of the Buddhist religion, in par>cular by:

  1. encouraging members and others to live in accordance with the teachings of Buddha;

  2. suppor>ng ordained members of the Triratna Buddhist community and other duly ordained Buddhists, at the discre>on of the charity trustees of the CIO;

  3. maintaining close communica>on with and working under the guidance of the Triratna Buddhist Order and in coopera>on with other groups with the same or similar objects; and

  4. using applica>ons of the Buddha’s teaching to promote the health and well-being of all.

Ac9vi9es for Achieving Objec9ves

During the year this work was furthered through the following ac>vi>es:

Grant making Policies

The income of Future Dharma Fund is made up of dona>ons from individuals within the Triratna Buddhist Community. Applica>ons for grants are invited from projects and organisa>ons within the Triratna Buddhist Community whose aims and objec>ves are similar to those of the Future Dharma Fund and whose ac>vi>es and ini>a>ves will serve the strategy and priori>es set by the Future

Future Dharma Fund. Charity number: 1167344

5

Dharma Trustees every 3 to 5 years. Applica>ons are assessed by a grants board, appointed by the trustees. Grants and annual budgets are discussed and reviewed at mee>ngs of the trustees. A report from the projects receiving grants are considered at a subsequent trustee mee>ng, especially if poten>al ongoing funding is to be considered.

Achievement and performance

Review of Ac9vi9es

As stated the charity's income comes mainly from dona>ons from individuals within the Triratna Buddhist Community. Effort has been made to maximise this income, including giving donors and prospec>ve donors good informa>on about the work of the fund and broadening the fundraising base with a mix of one-off major dona>ons, regular standing order dona>ons and legacies.

The budget for expenditure for the year is based on dona>ons received and pledges made in rela>on to fundraising campaigns. The budget set allows for the non-payment of a percentage of the pledges. There is a reserves policy (see below) to cover the possibility of unforeseen expenditures, a number of donors not mee>ng a pledge or a fundraising campaign not reaching its target.

The Future Dharma Fund provides funding to a network of Triratna Buddhist Centres, Buddhist groups and other projects in the UK and beyond who work with the general public, promo>ng health and well-being through courses and events in medita>on, mindfulness and Buddhism. The Charity also makes grants to projects that provide religious educa>onal resources and online informa>on on medita>on and Buddhism as well as publica>ons on medita>on and Buddhism.

Partnership with India Dhamma Trust

At the end of 2019, we entered into a partnership with India Dharma Trust (IDT), which is a sister charity, taking on their grant making commitments in return for dona>on receipts. Laura Hamilton (Vajratara), the chair of IDT, alends our trustee mee>ngs, though she does not have vo>ng rights.

In 2021, we received a total of £222,983 from the IDT partnership. Of this amount, £60,482 was granted to projects, £55,745 was allocated to administra>ng the partnership and £109,858 is carried over as funds restricted to Indian projects.

Financial Review

During the year, Future Dharma Fund received a total income of £573,737 and had total costs of £408,917 resul>ng in a surplus of £164,820. Compared to previous years, the charity’s income has increased by 39%. This reflects our partnership with IDT, our increased fundraising and supporter care capacity, as well as the generous response of our donors.

In terms of expenditure, our grants programme increased from £231,821 to £252,012. While this is an increase, we had budgeted higher grants cost in the area of small grants, but paying some of the small grants was delayed due to projects needing to meet safeguarding documenta>on requirements. The new major grants agreed this year included a new round of funding for the Interna>onal Council convenor team, retreat bursaries for the Bordharan Retreat Centre and uplics to exis>ng major grants (KM4 Australia and the Indian Movement Coordinator).

Future Dharma Fund. Charity number: 1167344

6

Going Concern

Acer making appropriate enquiries, the trustees have a reasonable expecta>on that the charity has adequate resources to con>nue in opera>onal existence for the foreseeable future. For this reason, they con>nue to adopt the going concern basis in preparing the financial statements. Further details regarding the adop>on of the going concern basis can be found in the Accoun>ng Policies.

Investment Policy

The Future Dharma Fund is a fundraising and grant awarding body and therefore has no plans for significant long-term investment. Aside from retaining a prudent amount in reserves each year, the majority of the charity’s funds are spent in providing annual grants. However, the charity does, at >mes, hold reserves in savings accounts.

Reserves Policy

The trustees have examined the charity’s requirements for reserves in the light of the major risks to the organisa>on. Currently the charity’s policy is that uncommiled unrestricted funds should meet or exceed 3 months of the charity’s annual expenditure, including known grant liabili>es. This reserve provides leeway and response >me should one or more supporters not meet a major financial pledge or if significant unforeseen expenditure arises. This reserves policy will be regularly reviewed depending on circumstances and amended as required.

Structure, Governance and Management

Governing Document

The organiza>on is a Charitable Incorporated Organisa>on, whose only vo>ng members are its charity trustees and was registered as a charity on 25[th] May 2016. The company was established under a cons>tu>on which established the objects and powers of the charity and is governed under the ar>cles of its cons>tu>on.

Organisa9onal structure and appointment of trustees

Future Dharma Fund has a trustee body of up to 12 members who meet between 3 and 6 >mes a year and are responsible for the strategic direc>on and policy of the charity. The members of the CIO are its trustees and the only people eligible to be members of the CIO are the trustees. Trustees represent and are appointed by ‘sister’ chari>es within the Triratna Buddhist Community who share the same aims and objec>ves as the Future Dharma Fund. Currently these are the Triratna Trust, the Triratna Preceptors College Trust, The Triratna European Chairs Assembly and the Triratna Interna>onal Council.

The trustees are elected and appointed by these partner bodies, not the exis>ng FutureDharma Trustees board. The trustees serve for up to a three-year period, when they are required to stand down. They can be reappointed for further periods, if re-elected by their appoin>ng charity. The Trustees are required to report back to their appoin>ng charity on a regular basis and to represent the strategy and priori>es of the charity that they are represen>ng.

Drawing the trustees from the sister chari>es helps to ensure that trustees will have the necessary skills and perspec>ve to guide and oversee Future Dharma Fund. All the trustees already have many years of involvement in the Triratna Buddhist Community and a number of years’ experience of trusteeship of Buddhist chari>es.

Future Dharma Fund. Charity number: 1167344

7

Trustee Induc9on and Training

As indicated above, as members of exis>ng chari>es the trustees will have a background in the governance of other Buddhist chari>es. In addi>on, resources are made available to them such as a Trustees Handbook and further guidance from the Charity Commission.

Responsibility of the Trustees

Charity law requires the trustees to prepare financial statements each year which give a true and fair view of the state of affairs of the charity at the balance sheet date, and of both incoming resources, and applica>on of resources for the financial year. In preparing those financial statements, the trustees should follow best prac>ce and:

The trustees are responsible for maintaining proper accoun>ng records which disclose with reasonable accuracy at any >me the financial posi>on of the charity. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preven>on and detec>on of fraud and other irregulari>es.

Members of the Trustee Body

The trustees, who served during the year and up to the date of this report, are set out on page 3.

FutureDharma Team

Over the course of the year the charity employed a team equivalent of 6.7 full >me posts (FTE), including team members who are self-employed. At the end of the year, the number of FTEs was 7.2. As many roles are part->me, in total the charity employed 12 individuals during the course of the year. Collec>vely known as the Future Dharma Team, these people work under the Team Director to implement the aims, objec>ves, strategy and priori>es of the charity and, in par>cular, to conduct fundraising and manage the grant applica>on process. All team members, including the Team Director, are responsible to the trustees.

Risk Management

The Future Dharma team and trustees conduct an annual review of the major risks to which the charity is exposed. A risk register has been established and is updated annually. Where appropriate, systems or procedures will be established to mi>gate any likely and significant risks the charity faces. The possibility of fundraising not achieving its targets has led to a policy on reserves and the diversifica>on of fundraising will be further explored and developed. Internal control risks have been minimised by the implementa>on of procedures for authoriza>on of financial transac>ons for amounts over defined thresholds, as defined by an expenditure authority limits policy.

Plans for future periods

Future Developments

The Charity will con>nue with the work and ac>vi>es that fulfil its objec>ves and principle ac>vi>es namely, (i) encouraging members and others to live in accordance with the teachings of Buddha, (ii)

Future Dharma Fund. Charity number: 1167344

8

suppor>ng ordained members of the Triratna Buddhist community and other duly ordained Buddhists, at the discre>on of the charity trustees of the CIO, (iii) maintaining close communica>on with and working under the guidance of the Triratna Buddhist order and in coopera>on with other groups with the same or similar objects, and (iii) using applica>ons of the Buddha’s teaching to promote the health and well-being of all.

Subject to fundraising success grants will be awarded to a range of projects throughout the Triratna Buddhist Community Interna>onal who share the same aims and objec>ves as the Future Dharma Fund and whose purpose and ac>vi>es serve the strategy and priori>es of the charity.

Declara9ons

The trustees declare that they have approved the trustees’ report above

Signed on behalf of the charity’s trustees

Signature
Full name(s) Paramabandhu Groves
Posi>on chair
Date 3.10.22

Future Dharma Fund. Charity number: 1167344

Future Dharma Fund Future Dharma Fund Future Dharma Fund CharityNo. 1167344
Annual accounts for theperiod
Period start date 01/01/2021 To Period end
date		 31/12/2021

Section A Statement of financial activities

Recommended categories by
activity
Incoming resources (Note 3)
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Separate material item of income
Other
Resources expended (Note 6)
Expenditure on:
Raising funds
Charitable activities
Separate material item of expense
Other
Net gains/(losses) on investments
Extraordinary items
Other gains/(losses)
Reconciliation of funds:
PayPal - currency
Total
Net movement in funds
Total funds brought forward
Total funds carried forward
Total
Net income/(expenditure) before investment
gains/(losses)
Net income/(expenditure)
Transfers between funds
Other recognised gains/(losses):		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05
303,417 261,776 - 565,192 402,715
- - - - 9,321
- - - - -
- - - -
- - - - -
8,545 - - 8,545 -
311,961 261,776 - 573,737 412,037
62,691 - 62,691 44,764
242,672 96,629 - 339,301 311,689
- - - -
6,925 - - 6,925 178
312,288 96,629 - 408,917 356,274
326
-		 165,147 - 164,820 55,763
- - - - -
326
-		 165,147 - 164,820 55,763
- - - - -
59,277 59,277
-		 - - -
- - - 1
58,950 105,870 - 164,820 55,762
150,422 6,146 - 156,568 100,806
760 760
210,132 112,016 - 322,148 156,568

Section B Balance sheet

Fixed assets
Intangible assets (Note 15)
Tangible assets (Note 14)
Heritage assets (Note 16)
Investments (Note 17)
Total fixed assets
Current assets
Stocks (Note 18)
Debtors (Note 19)
Investments (Note 17.4)
Cash at bank and in hand (Note 24)
Total current assets
Creditors: amounts falling due within
one year (Note 20)
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
one year (Note 20)
Provisions for liabilities
Total net assets or liabilities
Funds of the Charity
Endowment funds (Note 27)
Restricted income funds (Note 27)
Unrestricted funds
Revaluation reserve
Total funds
Signed by one or two trustees on behalf of all
the trustees		 Total this
year
Total last
year
£
£
F04
F05
-
-
1,638
-
-
-
-
-
1,638
-
-
-
46,791
392
-
-
278,702
161,441
325,493
161,833

4,982
5,265
320,511
156,568
322,148
156,568
-
-
-
-
322,148
156,568
-
-
112,016
6,146
210,132
150,422
322,148
156,568
Text		 Total this
year
Total last
year
£
£
F04
F05
-
-
1,638
-
-
-
-
-
1,638
-
-
-
46,791
392
-
-
278,702
161,441
325,493
161,833

4,982
5,265
320,511
156,568
322,148
156,568
-
-
-
-
322,148
156,568
-
-
112,016
6,146
210,132
150,422
322,148
156,568
Text		 Total this
year
Total last
year
£
£
F04
F05
-
-
1,638
-
-
-
-
-
1,638
-
-
-
46,791
392
-
-
278,702
161,441
325,493
161,833

4,982
5,265
320,511
156,568
322,148
156,568
-
-
-
-
322,148
156,568
-
-
112,016
6,146
210,132
150,422
322,148
156,568
Text
Print Name Date of
approval
dd/mm/yyyy
Paramabandhu Groves 4.10.22

CC17a (Excel)

17/07/2022

2

Section C Notes to the accounts

Note 1 Basis of preparation

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities • and with ✓ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 the Financial Reporting Standard applicable in the United Kingdom and Republic of • and with ✓ Ireland (FRS 102)

The charity constitutes a public benefit entity as defined by FRS 102.*

✓

1.2 Going concern

An explanation as to those factors that support the conclusion that the charity is a going concern;

Disclosure of any uncertainties that make the going concern assumption doubtful;

Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.

Not applicable Not applicable Not applicable

1.3 Change of accounting policy

The accounts present a true and fair view and there were no changes to accounting policy.

Yes
No		 ✓ * -Tick as appropriate
✓

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).

Yes ✓ * -Tick as appropriate No ✓

CC17a (Excel)

17/07/2022

3

Section C Notes to the accounts (cont)

Note 2 Accounting policies 2.2 INCOME

Recognition of income
Settlement of insurance
claims
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
Support costs
The charity has incurred expenditure on support costs.
Volunteer help
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
Government grants
The charity has received government grants in the reporting period
Tax reclaims on
donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the
donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift
and is treated as an addition to the same fund as the initial donation unless the donor or
the terms of the appeal have specified otherwise.
These are included in the Statement of Financial Activities (SoFA) when:
• the charity becomes entitled to the resources;
· it is more likely than not that the trustees will receive the resources; and
• the monetary value can be measured with sufficient reliability.
Donated goods
Contractual income and
performance related
grants
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required
or permitted by the FRS 102 SORP or FRS 102.
Grants and donations
Grants and donations are only included in the SoFA when the general income
recognition criteria are met (5.10 to 5.12 FRS102 SORP).
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
Investment gains and
losses
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
Income from interest,
royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
Income from membership
subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
PayPal - currency
Donated services and facilities that are consumed immediately are recognised as
income with an equivalent amount recognised as an expense under the appropriate
heading in the SOFA.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on receipt.
In the reporting period in which the stocks are distributed, they are recognised as an
expense at the carrying amount of the stocks at distribution.
Donated services and
facilities
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.		 Yes
No
N/a		 Yes
No
N/a		 Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓

2.3 EXPENDITURE AND LIABILITIES

2.4 ASSETS
Intangible fixed assets
Heritage assets
They are valued at cost.
These are capitalised if they can be used for more than one year, and cost at least
Redundancy cost
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of the
obligation can be measured with reasonable certainty.
The charity accounts for basic financial instruments on initial recognition as per
paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
Governance and support
costs
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
The charity made no redundancy payments during the reporting period.
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade
discounts
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
Basic financial
instruments
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
They are valued at cost.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are
valued at initially at cost and subsequently at fair value (their market value) at the year
end. The same treatment is applied to unlisted investments unless fair value cannot be
measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a
maturity date of less than 1 year are treated as current asset investments
Grants with performance
conditions
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
Grants payable without
performance conditions
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through custody
or legal rights. The amortisation rates and methods used are disclosed in note 9.5
They are valued at cost.
The charity has heritage assets, that is, non-monetary assets with historic, artistic,
scientific, technological, geophysical or environmental qualities that are held and
maintained principally for their contribution to knowledge and culture. The depreciation
rates and methods used as disclosed in note 9.6.1.4.
Tangible fixed assets for
use by charity
The depreciation rates and methods used are disclosed in note 9.2.
Stocks and work in
progress
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net
realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value
based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the
contract.
Current asset
investments
The charity has has investments which it holds for resale or pending their sale and cash and
cash equivalents with a maturity date less than one year. These include cash on deposit and
cash equivalents with a maturity date of less than one year held for investment purposes rather
than to meet short term cash commitments as they fall due.
They are valued at fair value except where they qualify as basic financial instruments.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at
settlement amount after any trade discounts or amount advanced by the charity. Subsequently,
they are measured at the cash or other consideration expected to be received.
Yes
No
N/a		 Yes
No
N/a		 Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓
Yes
No
N/a
✓ ✓ ✓

Section C Notes to the accounts (cont)

Note 3 Analysis of income

Note 3 Analysis of income Analysis of income Analysis of income Analysis of income Analysis of income Analysis of income Analysis of income
Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year
£
£
Donations and gifts
194,817 261,776-456,592 397,055
Gift Aid
84,073- -84,073-
Legacies
24,527- -24,527-
General grants provided by government/other
charities
8,545- -8,545 5,661
Total 311,961 261,776 - 573,737 402,715
- - - - -
Projects, funds & courses
- - - - -
Third party appeals
- - - -9,321
Other
- - - - -
Total
- - - -9,321
311,961 261,776-573,737 402,715
Analysis
Donations
and legacies:
Charitable
activities:
TOTAL INCOME		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Prior year
£
£
Analysis
Donations and gifts 194,817 261,776 - 456,592 397,055
Gift Aid 84,073 - - 84,073 -
Legacies 24,527 - - 24,527 -
General grants provided by government/other
charities		 8,545 - - 8,545 5,661
Total 311,961 261,776 - 573,737 402,715
- - - - -
Projects, funds & courses - - - - -
Third party appeals - - - - 9,321
Other - - - - -
- - - - 9,321
311,961 261,776 - 573,737 402,715

Other information:

Buddhist Centre Online - £1050, European Chairs Assembly - £10,000, India Dhamma Trust transfers - £77,866, India (inc. for IDT) - £49,129, Indian movement co-ordinator - £1,300, Indian youth project - All income in the prior year was unrestricted except for: £1,736, KM4 Australia - £547, Translations - £1,490, Triratna Warsaw - £1050, Abhayaratna Trust appeal - £5913, Adhisthana India - £100, Dhammaloka - £996, Karuna - £2312

CC17a (Excel)

17/07/2022

6

Section C Notes to the accounts (cont)

Note 4 Analysis of receipts of government grants

Government grant 1
Government grant 2
Government grant 3
Government grant 4
Government grant 5
Government grant 6
Government grant 7
Government grant 8
Government grant 9
Government grant 10
Government grant 1
Government grant 2
Government grant 3
Government grant 4		 This year
£
Description		 This year
£
Description
Coronavirus Job Retention Scheme 1,304
Coronavirus Job Retention Scheme 1,084
Coronavirus Job Retention Scheme 770
Coronavirus Job Retention Scheme 771
Coronavirus Job Retention Scheme 880
Coronavirus Job Retention Scheme 1,009
Coronavirus Job Retention Scheme 1,009
Coronavirus Job Retention Scheme 754
Coronavirus Job Retention Scheme 482
Coronavirus Job Retention Scheme 482
Total
Description		 8,545
Last year
£
Coronavirus Job Retention Scheme 1,818
Coronavirus Job Retention Scheme 1,406
Coronavirus Job Retention Scheme 1,496
Coronavirus Job Retention Scheme 940
Total 5,661

CC17a (Excel)

17/07/2022

7

Section C Notes to the accounts (cont)

Note 6 Analysis of expenditure

Note 6 Analysis of expenditure expenditure expenditure expenditure expenditure expenditure expenditure expenditure
Analysis
Expenditure on raising funds:		 Unrestricted funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
£
£
This year
Last year
Incurred seeking donations 61,976 - - 61,976 39,671 - - 39,671
Advertising, marketing, direct mail and
publicity		 715 - - 715 5,093 - - 5,093
- - - - - - - -
Total expenditure on raising funds 62,691 - - 62,691 44,764 - - 44,764
Expenditure on charitable activities:
Cost of grants made 155,384 96,629 - 252,012 107,832 123,989 - 231,821
Future Dharma Team 87,289 - - 87,289 79,867 - - 79,867
Events, retreats & expenses - - - - - -
- - - - - - - -
Total expenditure on charitable
activities		 242,672 96,629 - 339,301 187,700 123,989 - 311,689
Other
Governance 500 - - 500 -178 - - -178
Operating expenses 6,425 - - 6,425 - - - -
- - - - - - - -
- - - - - - - -
TOTAL EXPENDITURE
Total other expenditure		 6,925 - - 6,925 - 178 - - - 178
312,288 96,629 - 408,917 232,285 123,989 - 356,274

CC17a (Excel)

17/07/2022

8

Section C Notes to the accounts

Note 10 Details of certain items of expenditure

10.1 Fees for examination of the accounts

Other fees (for example: financial advice, consultancy, accountancy services) paid
to the independent examiner
Independent examiner’s fees
Assurance services other than audit or independent examination
Tax advisory fees		 This year
£		 Last year
£
150 - 178
- -
- -
350 -

CC17a (Excel)

17/07/2022

9

Section C Notes to the accounts (cont)

Note 11 Paid employees

11.1 Staff Costs

Total staff costs
king for the
a related party		 This year
£		 Last year
£
110,753 80,358
3,640 4,459
4,379 3,769
- -
118,771 88,586
None

Salaries and wages Social security costs Pension costs (defined contribution scheme) Other employee benefits This year:

Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party Last year:

Viryanaga is employed as systems and finance director. During the period Viryanaga was paid for his services to Triratna Brixton and Future Dharma. This consised of support, retreats & expenses.

Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000

TRUE

Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity. For specific amounts paid to trustees, see Note 28.

Thisyear Lastyear
£ £
61,856 18,839

11.2 Average head count in the year

This year
Number		 Last year
Number
Fundraising 2.7 1.6
Charitable Activities 4.0 3.5
Total 6.7 5.1

CC17a (Excel)

17/07/2022

10

Section C Notes to the accounts (cont)

Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.

Please explain the basis for allocating the liability and expense of
defined contribution pension scheme between activities and
between restricted and unrestricted funds.
Amount of contributions recognised in the SOFA as an expense		 Thisyear Lastyear
£ £
4,379 3,769
Unrestricted
 Unrestricted

CC17a (Excel)

17/07/2022

11

Section C Notes to the accounts (cont)

Note 13 Grantmaking

This year:

13.1 Analysis of grants paid (included in cost of charitable activities)

Analysis Grants to
institutions		 Grants to individuals Support costs Total
£ £
Major Projects 234,118 9,719 - 243,837
Smallgrants 5,055 841 - 5,896
Third Partyappealgrants 2,280 - - 2,280
Total 241,453 10,559 - 252,012

13.2 Grants made to institutions

13.2 Grants made to institutions
Names of institution Purpose Total amount of
grantspaid £
Aryaloka Funds to support making Aryaloka Covid safe 1,729
Bahujan Hitay Gender equality trading - India 3,072
Buddhist Centre Online Ongoing funding of charity needs, 10% proceeds
for Intl Sangha Day		 82,279
Dublin Buddhist Centre Audio equipment for online classes 842
International Council/ Preceptors College Ongoing funding of charity needs 33,140
Merida Buddhist Centre (Venuzuala) Developing sangha in Merida 3,000
North London Buddhist centre Diversity project 2,484
TBMSG Nagpur (India) Indian movement co-ordinator & communications
project		 2,788
Triratna Institute (India) Youth project, retreat centre support & ordination
teams, support for India ordination team &
preceptors		 69,519
Triratna Macleay Valley Australia & New Zealand projects, KM4 Australia 7,590
Triratna Warsaw Developing sangha in Warsaw, Translations 7,010
Windhorse Publications Ltd Ongoing funding of charity needs 28,000
TOTAL GRANTS PAID
Total grants to institutions in reporting period
Other unanalysed grants		 241,453
-
241,453

CC17a (Excel)

17/07/2022

12

Last year:

13.3 Analysis of grants paid (included in cost of charitable activities)

Analysis Grants to
institutions		 Grants to individuals Support costs
£		 Total
£
Central Projects 63,386.00 - - 63,386.00
Major Projects 147,194.00 3,065.00 - 150,259.00
Smallgrants 5,820.00 - 2,469.00 - 3,351.00
Third Partyappealgrants 14,825.00 - - 14,825.00
Total 231,226 596 - 231,821

13.4 Grants made to institutions

Names of institution Purpose Total amount of
grantspaid £
Buddhist Centre Online (Dharmachakra) Ongoing funding of charity needs 11,000
Windhorse publications Ongoing funding of charity needs 15,996
India Dhamma Trust Support for India ordination team & preceptors 55,297
TBMSG Nagpur (India) Indian movement co-ordinator & communications
 7,512
Triratna Institute (India) Youth project, retreat centre support & ordination te
~~project~~		 32,001
Triratna Macleay Valley Australia & New Zealand projects, KM4 Australia 7,858
Sydney Buddhist Centre Australia & New Zealand projects, Young person
 10,037
Clear Vision Trust Ongoing funding of charity needs
~~coordinator~~		 3,250
International Council/ Preceptors College Ongoing funding of charity needs, Sikkha project 46,140
Triratna Warsaw Developing sangha in Warsaw, Translations 10,201
Uddiyana Image archive project 11,200
Alfoxton Park Trust Rennovation of Alfoxton Hall as retreat centre 1,000
Bodhi Tree LBC Schools project 2,820
York Buddhist Centre Rennovation and equipment of new centre 2,000
Triratna Chairs Assembly Translations 88
TOTAL GRANTS PAID
Total grants to institutions in reporting period
Other unanalysed grants		 216,400
14,825
231,266

CC17a (Excel)

17/07/2022

13

Section C Notes to the accounts

Note 14 Tangible fixed assets

14.1 Cost or valuation

14.1 Cost or valuation
Computers Total
£ £
At the beginning of the year - -
Additions 1,847 1,847
Revaluations - -
Disposals - -
Transfers * - -
At end of the year 1,847 1,847
14.2 Depreciation and impairments
14.2 Depreciation and impairments
**Basis Straight Straight
Line Line
** Rate
0.25
At beginning of the year - -
Disposals - -
Depreciation 209 209
Impairment - -
Transfers* - -
At end of the year 209 209
14.3 Net book value
Net book value at the beginning of the year - -
Net book value at the end of the year 1,638 1,638

CC17a (Excel)

17/07/2022

14

Section C Notes to the accounts (cont)

Note 19 Debtors and prepayments

19.1 Analysis of debtors
Prepayments and accrued income
Accrued Gift Aid
Total		 This year
£		 Last year
£
- -
479 392
46,312
46,791 392

Note 20 Creditors and accruals

20.1 Analysis of creditors

Accruals and deferred income Amounts falling due Amounts falling due
This year
£		 Last year
£
4,982 5,265
- -
4,982 5,265

Note 24 Cash at bank and in hand

Cash at bank and on hand
Other
Total		 This year
£		 Last year
£
278,702 161,441
- -
278,702 161,441

CC17a (Excel)

17/07/2022

15

Section C Notes to the accounts (cont)

Note 27 Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

funds
Fund names Type PE, EE
**R or UR ***
Purpose and Restrictions		 Fund
balances
brought
forward
£		 Income
£		 Expenditure
£		 Transfers
£		 Gains and
losses
£		 Fund
balances
carried
forward
£
General funds UR Unrestricted funds 150,422 311,961 -312,288 59,277 -35 209,338
European Chairs Assembly R Media projects (Buddhist Centre Online) - 10,000 -10,000 - - -
Global pioneers fund R Supporting pioneers to introduce Dharma
activities to new regions, areas or groups		 670 - -670 -
India Dhamma Trust-transfers R Supporting ordination teams and
preceptors in India		 3,103 63,532 -60,482 -6,152 - 0
India Dhamma Trust-Legacy R Legacies - 159,451 - -49,593 - 109,858
India (inc. for India Dhamma
Trust)		 R Supporting Dharma activities in India 370 18,477 -14,657 -3,531 - 659
Indian Youth Project R Support Dharma activities for young
people		 - 240 -240 - - -
International leadership course R Burseries from Adhisthana for those from
low income countries to attend the 4 week
international course at Adhisthana 2020		 1,500 1,500
KM4 Australia R Support Dharma activities in Australia - 219 -219 - -
Translations R Funds for translations of Dharma texts - 8,080 -8,080 - -
Triratna Warsaw R Support Dharma activities in Warsaw - 200 -200 - -
Windhorse Publications R Supporting ongoing activities 552 -552 -
Merida Buddhist Centre R Support Dharma activities in Venezuala 503 1,025 -1,528 -
PayPal UR Currency accounts 794 - - - 794
Total Funds 157,362 573,737 - 408,917 - - 35 322,148

CC17a (Excel)

17/07/2022

16

Section C Notes to the accounts (cont)

Note 27 Charity funds (cont)

27.2 Details of material funds held and movements during the PREVIOUS reporting period

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

unrestricted funds
Fund names Type PE, EE
**R or UR ***
Purpose and Restrictions		 Fund
balances
brought
forward
£		 Income
£		 Expenditure
£		 Transfers
£		 Gains and
losses
£		 Fund
balances
carried
forward
£
General Funds UR Unrestricted funds 85,945 258,548 -232,285 38,214 -1 150,422
Buddhist Centre Online R From Padmapushpa - 1,050 -1,050 - -
European chairs assembly R Funds for Centre media projects - 10,000 -10,000 -
Global pioneers fund R Supporting pioneers to introduce Dharma
activities to new regions, areas or groups.		 267 670 -267 670
India Dhamma Trust-transfers R Supporting ordination teams and
preceptors in India		 - 77,866 -55,297 -19,466 - 3,103
India (inc. for India Dhamma
Trust)		 R Supporting Dharma activities in India - 49,129 -36,477 -12,282 370
Indian movement co-ordinator R 1,300 -1,300
Indian Youth Project R Support Dharma activities for young
people		 - 1,736 -1,736 - -
International leadership course R Burseries from Adhisthana for those from
low income countries to attend the 4 week
International course at Adhisthana		 1,500 1,500
KM4 Australia R Support Dharma activities in Australia - 547 -547 - - -
Translations R Funds for translations of Dharma texts 860 1,490 -2,350 - 0
Triratna Warsaw R Support Dharma activities in Warsaw 4,302 1,050 -1,581 -3,771 - -0
Venezuala appeal R Support for Dharma activities in
Venezuala		 495 8 503
Women's oral history 2018 R Support for documentation of Triratna
women's history administered by the
Women's History Project Team		 2,955 -2,955 -
3rd party appeal: Abhayaratna
Trust		 R From Dhammasena - 5,913 -5,913 - -
3rd party appeal: Adhisthana
India		 R From Padmapushpa 100 -100 -
3rd party appeal: Adhisthana
India		 R Travel expenses for Indian Order
members to attend 4 week International
course at Adhisthana		 1,526 -1,526 -
3rd party appeal: Guhyavajra
support		 R Funds to support move from Sweden to
New Zealand to recommence building
works on the Sudarshanaloka retreat
centre		 2,955 - -2,955 - -
3rd part appeal: India
coronavirus appeal
(Dhammaloka)		 R Supporting Indian social and Dhamma
workers to fundraise for various projects		 - 996 -996 - - -
3rd party appeal: Karuna R From Triratna Wellington 2,312 -2,312 -
3rd party appeal: Triratna Trust R Support Triratna Order conventions -5,000 5,000 -
Total Funds 100,806 412,037 - 356,274 - - 1 156,568.03

CC17a (Excel)

17/07/2022

17

Section C Notes to the accounts (cont)

Note 27 Charity funds (cont)

27.3 Transfers between funds

This year

Thisyear
Reason for transfer and where endowment is converted to income,
legal power for its conversion		 Amount
Between unrestricted and
restricted funds		 Transfer of 25% fundraising & supporter care costs from donations to
India Dhamma Trust & other donations for activities in India		 £ 59,277
Lastyear
Reason for transfer and where endowment is converted to income,
legal power for its conversion		 Amount
Between unrestricted and
restricted funds		 Transfer of funds from unrestricted to restricted for Order Office
convention contribution (£5000). Transfer of funds from restricted to
unrestricted for India fundraising and supporter care (£31,748), unused
funds allocated to Guhyavajra (£2,955) and correction to overstatement
of restricted funds in previous accounting years (£8,511).		 £ 38,214

CC17a (Excel)

17/07/2022

18

Section C Notes to the accounts (cont)

Note 28 Transactions with trustees and related parties

28.1 Trustee remuneration and benefits

This year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

Last year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE TRUE

28.2 Trustees' expenses

No trustee expenses have been incurred (True or False) FALSE
Type of expenses reimbursed This year Last year
£ £
Travel 134 208
- -
TOTAL 134 208
Please provide the number of trustees reimbursed for expenses or who had
expenses paid by the charity
2 3

28.3 Transaction(s) with related parties

This year

There have been no related party transactions in the reporting period (True or False) There have been no related party transactions in the reporting period (True or False) There have been no related party transactions in the reporting period (True or False) There have been no related party transactions in the reporting period (True or False) There have been no related party transactions in the reporting period (True or False) There have been no related party transactions in the reporting period (True or False) FALSE FALSE
Name of the trustee
or related party		 Relationship
to charity		 Description of the
transaction(s)		 Amount Balance at
period end		 Provision for bad debts
at period end		 Amounts
written off
during
reporting
period
£ £ £ £
Triratna Buddhist
Community (Brixton		 Viryanaga is
employed as
Chair		 Triratna Brixton
contributed to half of
Viryanaga's support costs
for services.		 1,748.17 0

Last year

There have been no related party transactions in the reporting period (True or False)

FALSE

Name of the trustee
or related party		 Relationship
to charity		 Description of the
transaction(s)		 Amount Balance at
period end		 Provision for bad debts
at period end		 Amounts
written off
during
reporting
period
£ £ £ £
Triratna Buddhist
Community (Brixton		 Viryanaga is
employed as
Chair		 Triratna Brixton
contributes to half of
Viryanaga's support costs
for services		 10,398.00 0

CC17a (Excel)

17/07/2022

19

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examinerfs Report Report to the trustee&l members of Future Dharma Fund On accounts for the year ended 31.12.2021 Charity no (if any) 1167344 I report to the trustees on my examination of the accounts of the above charity (Yhe Trust.) for the year ended 3111212021. Responsibilities and basis of report As the charity's trustees, you aré responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report iri respect of my examination of the Trust'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. Independent The charity's gross income exceeded £250,000 and l am qualified to examiner's statement undertake the examination by being a qualified member of AAT. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records; or the accounts did 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. Signed: Date: 2410812022 Name: Fay Pritchard Relevant professional qualification(s) or body (if any): AAT Licensed Accountant. No; 1004354 Address: 8 Darwin Street, Shrewsbury, SY3 8QE IER Oct 2018