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2024-06-30-accounts

Charity Registration No. 1200132

TU AN TEMPLE UK

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

TU AN TEMPLE UK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustee Mr Van Cuong Mai Ms Thi Danh Nguyen Charity number 1200132 Independent examiner HT Accountants & Co LLP Unit 3 Ibex House 2a Leytonstone Road Stratford London United Kingdom E15 1SE

TU AN TEMPLE UK

CONTENTS

Page
Trustee Report report 1 - 2
Statement of Trustee Report responsibilities 3
Independent examiner's report 4 - 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 12

TU AN TEMPLE UK

TRUSTEE REPORT REPORT FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their report and financial statements for the year ended 30 June 2024

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's [governing document], the Charities Act 2011 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The objectives are:

  1. Promote and improve Buddhist education by for followers and to bring about clarity on the authentic and genuine face of Buddhism.

  2. To educate the public of Buddhist education, history and culture of Buddhism and maintain the Vietnamese culture.

  3. Provide facilities such as exhibitions, performances, prayers, chants, etc.

  4. To train up Buddhist talent with experiences to help spreading the Buddhist teaching.

  5. To appreciate Buddhist values through the Life of the Buddha.

  6. To cultivate the mind of the Buddhist way and the application of the teachings to daily life.

  7. To conduct Buddhist ceremonies, social function and fund-raising activities to support charities.

  8. To provide online Livestream, daily Pray and Sunday services since July 2021, in order to support Buddhist followers and others.

With regards to the guidance issued by the Charity Commission on public benefit, and in accordance with the principles, aims and objectives of the Charity itself, the Trustees have considered how best to apply the resources and benefits of public.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities should be undertaken.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and planning our future activities.

The have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake.

Financial review

It is the policy of the that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The has assessed the major risks to which the is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The trustees who served during the year and up to the date of signature of the financial statements were:

TU AN TEMPLE UK

TRUSTEE REPORT REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Mr Van Cuong Mai Ms Thi Danh Nguyen

The Trustee Report report was approved by the Board of .

Mr Van Cuong Mai

Dated: 8 August 2024

TU AN TEMPLE UK

STATEMENT OF TRUSTEE REPORT RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2024

The are responsible for preparing the Trustee Report Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the and of the incoming resources and application of resources of the for that year.

In preparing these financial statements, the are required to:

The are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TU AN TEMPLE UK

INDEPENDENT EXAMINER'S REPORT TO THE OF TU AN TEMPLE UK

I report on the financial statements of the for the year ended 30 June 2024, which are set out on pages 6 to 12.

Respective responsibilities of and examiner

The ’s are responsible for the preparation of the financial statements. The charity's consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:

have not been met or

HT Accountants & Co LLP

Association of Chartered Certified Accountant Unit 3 Ibex House 2a Leytonstone Road Stratford London E15 1SE

TU AN TEMPLE UK

INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE OF TU AN TEMPLE UK

United Kingdom

Dated: 8 August 2024

TU AN TEMPLE UK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted
funds
2024
Notes
£
Income from:
Donations and legacies
3
89,496
Expenditure on:
Charitable activities
4
34,394
Net income for the year/
Net movement in funds
55,102
Fund balances at 1 July 2023
77,224
Fund balances at 30 June 2024
132,326		 Total
2023
£
66,598
41,348
25,250
51,974
77,224

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

TU AN TEMPLE UK

BALANCE SHEET

AS AT 30 JUNE 2024

Notes
Fixed assets
Tangible assets
5
Current assets
Debtors
6
Cash at bank and in hand
Creditors: amounts falling due within
one year
7
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds - general		 2024
£
2
145,035
145,037
(20,717)		 £
8,006
124,320
132,326
132,326
132,326		 2023
£
-
69,548
69,548
(3,000)		 £
10,676
66,548
77,224
77,224
77,224

The financial statements were approved by the on 8 August 2024

Mr Van Cuong Mai Trustee

TU AN TEMPLE UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

Charity information

The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is 65 Northover, Bromley, London, BR1 5JT, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the 's [governing document], the Charities Act 2011 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016). The is a Public Benefit Entity as defined by FRS 102.

The has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .

1.4 Income

Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

TU AN TEMPLE UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% Reducing balance Motor vehicles 25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the 's balance sheet when the becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TU AN TEMPLE UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the ’s accounting policies, the are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Total
funds
general
2024 2023
£ £
Donations and gifts 89,496 66,598

TU AN TEMPLE UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

4 Charitable activities Charitable activities
Charitable
Charitable
Expenditure
Expenditure
Heading 1 Heading 1
2024 2023
£ £
Depreciation and impairment 2,669 1,259
Foods and drinks 4,350 1,453
Plants and flowers 423 1,171
Water rates 2,441 2,900
Electricity 2,180 6,868
Property repairs and maintenance 2,894 10,717
Premises expenses 8,311 6,301
Computer running costs - 164
Motor running expenses 1,046 702
Travelling expenses 1,020 529
Bank charges 591 234
Premises insurance 1,138 -
Internet 314 66
Printing and stationery 233 330
Donations 6,500 7,987
Telephone 284 667
34,394 41,348
34,394 41,348

5 Tangible fixed assets

Plant and
equipment
Motor vehicles
£
£
Cost
At 1 July 2023
435
11,500
At 30 June 2024
435
11,500
Depreciation and impairment
At 1 July 2023
109
1,150
Depreciation charged in the year
82
2,588
At 30 June 2024
191
3,738
Carrying amount
At 30 June 2024
244
7,762
At 30 June 2023
326
10,350		 Total
£
11,935
11,935
1,259
2,670
3,929
8,006
10,676

TU AN TEMPLE UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

6
Debtors
Amounts falling due within one year:
Trade debtors
7
Creditors: amounts falling due within one year
Notes
Bank overdrafts
Other creditors		 2024
£
2
2024
£
2,717
18,000
20,717		 2023
£
-
2023
£
-
3,000
3,000