WAT PA BUDDHARAM ANNUAL REPORT YEAR ENDED 5TH APRIL 2025 WAT PA BUDDHARAM- Chari TRUSTEE'S ANNUAL REPORT istration No 1123606 Flnanclal ActlvltleslDevelo ments Despite the fall in the overall donations, the charity still managed to generate a large surplus which was mainly used to repay much of the bank loan. The number of vistors are increasing but the donations are falling because the charity's financial requirements are not as pressing as before. Future Develo ments After the fin¢incial year the charity has paid off the bank loan. The trustees feel that the temple premises are ready to facilitate hopefully much more participators in the future. There are no plans for substatial capital costs and the trustees will now concentrate on the repayment of personal loans. Rlsk Pollclas The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are In place to mitigate the charity's exposure lo the major risks. Statement of Tru8teeslMana Commlttee Res onslbllltles The Charities Act require the Irusteeslmanagemenl committee to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit for the period. In preparing those accounts, the trusteeslmanagement committee are -select suitable accounting policies and then apply them consistently., -make judgements and estimates that are reasonable and prudent,, -and prepare the accounts on the going concern basis unless il is inappropriate lo presume that the charity will continue to run. The Irusteeslmanagement committee are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and 10 enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. eserve The charity's accounts showing unrestricted reserves of £1,433,402 (2024 - £1,281,896) as at 5th April 2025 were approved by the trustees on 9th October 2025. ..Trustee ..Trustee WAT PA BUDDHARAM - Charit No 1169962 STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 5thA ril 2025 Notes 2025 2024 INCOMING RESOURCES Volunta income Collections and donations 189,246 235,192 TOTAL INCOMING RESO RCES 189,246 235,192 RESOURCES EXPENDED Charltable ex endltures Rates Loan interest Bank charges Light and heat Motor expenses Repairs and maintenance Insurance Ceremonial and travel Telephone and internet Depreciation Postage,stationery and advertising 4,835 8,800 281 14,377 418 3,168 1,677 200 363 2,421 6,734 19,351 323 13,489 384 2,230 1,396 100 377 2,767 76 47,227 1,200 48,427 36,540 1,200 37,740 Governance costs NET INCOMING RESOURCES 151,506 186,765 FUNDS BALANCE BROUGHT FORWARD FUNDS CARRIED FORWARD 1,281,896 1,095,131 1,433,402 1,281,896 All of the actlvltles of h ¢harlt All f nds are unrestrlcte are Contlnuln WAT PA BUDDHARAM- Chari No 1169962 Notes to the Accounts For The Period Ended 5th A ril 2025 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES la) General Informatlon and basis of preparation Wat Buddharam (Milton Keynes} is a Charity registered in England. The nature of the charity's operations and principal activities are set out in the trustees, report. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have not departed from the Charities (Accounts and Reports) Regulations 2008 in order to provide a 'true and fair view,. The financial statements are prepared on a going concern basis under the historical cost convention. The financial staiements are presented in sterling which is the functional currency of the charity. The slgnificant accounting policies applied in the preparation of these financial stalements are set out below. These policies have been consistently applied to all years presented unless otherwise slated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. (c) Income recognltlon All incoming resources are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). (d) Expendlture recognltlon All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. (e) Credltors payable wlthln one year Creditors with no stated interest rate and payable within one year are recorded at transaction price. (f) Provisions Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past evenl, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Ig) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable organisation for UK corporation tax purposes. WAT PA BUDDHARAM - Charit No 1169962 Notes to the Accounts For The Perlod Ended 5th A ril 2025 7. UNRESTRICTED FUNDS Balance at 05104124 Income enditure Balance at 05104125 1,281.896 1,281,896 189,246 189,246 37,740 1,433,402 37,740 1,433,402 8. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unr8Strlcted Funds Fixed Assets Cash and Current Investments Other Current Assets l Liabilities Creditors More Than One Year 1,778,608 63,254 (5,9911 402,469 1,433,402 9. POST BALANCE SHEET EVENTS There are no post balance sheet events that require an adjustment or disclosure lo the financial statements. 10. RELATED PARTY TRANSACTIONS There are no related party transactions during the year (2024.. £nill.