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2025-03-31-accounts

MKBA CHARITY TRUSTEES ANNUAL REPORT 2024-2025

TABLE OF CONTENTS

REFERENCE AND
ADMINISTRATIVE
DETAILS
Report and Financial 02
Period
Who Manage the Charity 02
Approval and Signatures 02
Professional
Appointments		 03

ACHIEVEMENTS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure 04
Roles and Responsibilities 05
Policy and Procedures 06

OUR GOALS

Our Charitable Objects 09 Our Strategic Aims 10

What We have Achieved 13
Programme Highlights 17

FINANCIAL REVIEW

Receipts and Payments 27
Accounts
Independent Examiner’s 33
Report
Reserves Policy 34
STATEMENT OF
TRUSTEES’
RESPONSIBILITIES
AND DECLARATION 36

01

ANNUAL REPORT 2024

ADMINISTRATION

Milton Keynes Buddhist Association (UK)

Trustees’ Annual Report and Financial Statements for The Period

From 05 April 2024 To 05 April 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Name : Milton Keynes Buddhist Association (UK)

Charity is known by : MKBA

Registered Charity number : 1204594

Registered Office: 76 Milton Road, Milton Keynes, MK10 9LR, U.K.

THE CHARITY TRUSTEES WHO MANAGE THE CHARITY

Trustees Name Trustees Name Name of person (or
body) entitled to appoint
trustee (if any)		 Name of person (or
body) entitled to appoint
trustee (if any)
Trustees Name Office Date Acted if not for
whole year		 Name of person (or
body) entitled to appoint
trustee (if any)
Alan Siu Chair 05.06.2024 to present MKBA Board of Trustees
Judy Lam Secretary 05.06.2024 to present MKBA Board of Trustees
Mei Wan Treasurer 05.06.2024 to present MKBA Board of Trustees
Yeang Yee Treasurer
Trustee		 31.08.2023 to 31.08.2024
01.09.2024 to present		 MKBA Board of Trustees

This report was approved by the Board of Trustees on 17 January 2026 and signed on its behalf.

Alan Siu

Chair of the Milton Keynes Buddhist Association (UK) Date: 25 January 2026

ANNUAL REPORT 2024 02

ADMINISTRATION

PROFESSIONAL APPOINTMENTS

Type of Advisor Type of Advisor Address Address
Type of Advisor Name Address
Bank The Co-operative Bank P.O. Box 4931, Interface Business
Park, Bincknoll Lane, Swindon,
SN4 4PL.
Accountant Mr. Prasanth Ganguly
TaxAssist Accountants
Milton Keynes		 Luminous House, 300 South Row,
Milton Keynes, MK9 2FR.
Independent
Examiner		 Mr. Prasanth Ganguly
TaxAssist Accountants
Milton Keynes		 Luminous House, 300 South Row,
Milton Keynes, MK9 2FR.
Insurance Markel International
Insurance Company Ltd		 Markel (UK) Ltd, 2ndFloor, Verity
House, 6 Canal Wharf, Leeds, LS11
5AS.
Data Protection
Officer		 Data Protection
Officer		 ICO. Information
Commissioner’s Office		 Information Commissioner’s
Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF

ANNUAL REPORT 2024 03

STRUCTURE

STRUCTURE, GOVERNANCE AND MANAGEMENT

Type of Governing Document

Constitution adopted 30[th] August 2023.

How The Charity is Constituted

Charitable Incorporated Organisation whose only voting members are its Charity Trustees.

Trustees Selection Methods

Every Trustees must be appointed by a resolution passed at a properly convened meeting of the Charity Trustees.

In MKBA, trustees are volunteers and aren’t paid for their role. Any other payment (if applicable) will require the permission of the Charity Commission.

MKBA’s Trustees operate within two sets of formal rules:

  1. The governing document. This may be called rules, constitution, or the trust deed

  2. The law, particularly the acts which govern charity organisation. The Trustee Act 2000 (for unincorporated charities), Insolvency Acts, Companies Acts, and Charity Acts.

Trustees work collectively as a board and make decisions at formal board meetings. Once a decision has been collectively made all trustees are bound to support that decision.

All trustees must ensure that everything MKBA does helps (or is intended to help) to achieve the purposes for which it is set up, and no other purpose. All trustees should:

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ANNUAL REPORT 2024

GOVERNANCE

Roles and Responsibilities

The Chair: The role of the chair is to lead meetings of the trustee board. Additional roles of the chair include:

The Treasurer: The treasurer helps trustees carry out their financial responsibilities. They might do this by:

The Secretary: The secretary’s role is generally to make sure the charity follows company law. Common secretarial duties are;

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ANNUAL REPORT 2024

MANAGEMENT

Additional Governance Issues

  1. All the events of the charity are open to everyone, regardless of their background or beliefs.

  2. The Trustees oversee the day to day running of the charity.

  3. The trustees seek the views of members and volunteers in deciding the activities to be run.

  4. All trustees give their time voluntarily and received no remuneration or other benefits.

We are grateful for the many hours volunteers including trustees, have spent effort and time working for the charity. Without this valuable contribution of time, energy and expertise we would not have been able to achieve so much.

Policies and Procedures Adopted

The Board of Trustees is committed to maintaining the highest standards of governance. To support this, we have adopted a framework of policies which are reviewed regularly.

A. Governance and Trustee Management

1. Trustee Induction and Training Policy: Confirms that new trustees receive a proper introduction to the charity's work and that all trustees receive ongoing training.

2. Code of Conduct for Trustees: A set of rules outlining the ethical and behavioural expectations for trustees, often including commitments to the charity's values.

3. Trustee Conflicts of Interest Policy and Procedures: E xplains the process for identifying, declaring, and managing situations where a trustee's personal interests could conflict with their duty to the charity.

4. Trustee Recruitment Policy: Describes how the board seeks to attract a diverse range of skills and backgrounds, the process for appointing new trustees.

5. Trustee Expenses Policy and Procedures

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ANNUAL REPORT 2024

MANAGEMENT

B. Financial Management and Controls

1. Financial Reserves Policy and Procedures: The level of reserves held at the year-end and the rationale for holding the reserves. The target level of reserves range 6 months of operating costs

2. Internal Charity Financial Controls Policy and Procedures: Internal financial controls are in place to safeguard assets, prevent fraud, and ensure accurate record-keeping.

C. Risk Management

1. Risk Management Policy: The process for identifying, evaluating, and managing the major risks the charity faces and establish a system to mitigate these risks. This includes operational, financial, compliance, and reputational risks. Our key risks include funding stream and ensuring service delivery in a changing environment.

D. Operational and People Management

1. Safeguarding Policy and Procedures - Vulnerable beneficiaries – Children: outline procedures for preventing and responding to harm, including training staff, recruiting responsibly, managing allegations and ensuring a safe environment.

2. Safeguarding Policy and Procedures – Adults

3. Volunteers Management Policy: Outlines how the charity recruits, supports, and manages its volunteers.

4. Staff Recruitment and Pay Policy: Ensures fair and transparent processes.

5. Staff and Volunteers Code of Conduct

6. Health and Safety Policy: Our commitment to providing a safe environment for staff, volunteers, and beneficiaries.

7. Privacy Notice and Data Retention Policy: Confirms compliance with data protection law, outlining how personal data is collected, stored, and used securely.

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ANNUAL REPORT 2024

MANAGEMENT

8. Complaints Policy and Complaints Handling: Details the procedure for beneficiaries, donors, or the public to make a complaint and how it will be handled fairly and effectively.

9. Serious Incident Reporting Policy: outlines the procedure of identifying and reporting serious incidents to regulator, typically The Charity Commission.

10. Bullying and Harassment Policy and Procedures : ensure incidents of bullying and harassment can be recognised and dealt with.

E. Fundraising and Public Engagement

1. Fundraising Policy: It commits the charity to ethical fundraising, respecting donors' wishes, and handling donations responsibly.

2. Event Safeguarding Policy

3. Campaigns and Political Activity Policy and Procedures

4. Social Media Policy and Procedures: provide a comprehensive guide for social media use for MKBA’s channels and for individuals using social media in a personal capacity as a representative of the charity.

5. Engaging External Speakers at Charity Events Policy and Procedures

6. Hospitality Policy: sets out the procedure staff must follow when giving or receiving gifts and hospitality.

Full copies of our key policies are available upon request from our registered office.

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ANNUAL REPORT 2024

OUR OBJECTIVES

OUR OBJECTIVES

Learning

Provide accessible Buddhist online courses that share teachings, support spiritual growth, and benefit all who seek guidance.

Literature

Producing and distributing literature to enlighten others about the principles of the Buddhist religion.

Buddhist Learning Centre

Establish a dedicated space that serves as a serene environment for individuals to practice mindfulness, meditation and Buddhism education and community engagement.

Communications

Maintain close communication and work with other groups with the same or similar objects to promote racial harmony among all races and cultures.

Meeting & Unity

The holding of meeting, workshops and public events that bring people together in shared purpose.

Teaching

Promote the teaching, study, or practice of the Buddhist’s principles.

ANNUAL REPORT 2024 09

OUR OBJECTIVES

OUR STRATEGIC AIMS

To provide a profound and accessible online courses for spiritual learning and practice.

We aim to make the profound teachings of the Buddha (the Dharma) clear, practical, and directly applicable to the challenges of modern daily life.

Addressing Modern Need:

In an increasingly fast-paced, distracted, and anxious world, there is a profound need for accessible, authentic sources of inner peace and wisdom.

A digital platform allows us to transcend geographical and physical limitations, reaching anyone with an internet connection, regardless of their location, and mobility.

Structured Learning

Pathways: Under our respectable teacher, Venerable Shanru’s compassionate guidance , we develop a sequenced curriculum of online courses, from "Buddhism 101" for absolute beginners to advanced teachings on specific sutras or philosophical concepts, allowing for structured, progressive learning.

The teachings are in various formats—livestreamed sessions with Q&A, pre-recorded video lectures, and written materials—to cater to different learning styles and schedules.

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ANNUAL REPORT 2024

OUR OBJECTIVES

OUR STRATEGIC AIMS

Establishing a Buddhist Lecture Hall / Temple to Serve local disciples with a dedicated place to deepen their study and practice.

We are committed to building a more comprehensive Buddhist charitable organization in Milton Keynes, so that people of diverse backgrounds may benefit from the light of the Dharma.

We aim to bridge cultural and linguistic barriers, enabling the wider community to hear the teachings, cultivate mindfulness, and discipline the mind.

A place that serves a both a sanctuary for learning and a bridge to the wider community.

The venue is not only to promote Buddhism, but also to sow seeds of compassion and wisdom within the community, inspiring greater acts of kindness and creating a harmonious living environment.

Dharma-centred

Architectures: The physical space will embody Buddhist principles. Designs elements will include a clean, flexible main hall, a small library and accessible community spaces

Sustainable Operations:

financial sustainability plan – model will include dedicated fundraising for specific programs, and potential establishment of membership scheme for regular supporters.

Inclusive Service: regular Dharma sessions, meditation sessions, study groups, and Dharma lectures led by our respected teachers.

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ANNUAL REPORT 2024

OUR OBJECTIVES

OUR STRATEGIC AIMS

Operational and Governance Strengthening

Volunteer Development

Collaborative Partnership

MKBA trustees focused on improving governance structures, safeguarding procedures, and operational efficiency to meet long-term strategic goals and Charity Commission standards.

Continued efforts were made to build a stable volunteer base. Volunteers played key roles in planning logistics, coordinating events, and supporting newcomers.

We began exploring collaborations with other Buddhist centres, educational institutions, and cultural groups to widen its reach and share resources and wisdom, to strengthen the Dharma presence.

Governance Framework

Review: conducted a full review of our governing document to ensure it fitsfor-purpose and reflects modern best practices.

Undertook a systematic review of core policies, with priority on Safeguarding, Risk Management, and Data Protection.

Relationship building and open communication with local Japanese Buddhist Temple and Inter-faith communities.

MKBA offers a volunteer support for non-liturgical tasks as identified by the temple such as facility care and assisting with events.

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ANNUAL REPORT 2024

ACHIEVEMENTS

ACHIEVEMENTS

In its second year of operation, MKBA made significant progress in strengthening its presence within the UK’s Buddhist community and beyond. Building upon the foundational work carried out in 2023, the charity shifted its focus toward expansion, outreach, and program delivery, with a special emphasis on promoting accessible, inclusive, and authentic Buddhist teachings. One of the major highlights of 2024 was the planning, promotion, and successful delivery of a week-long series of Dharma activities in August, centred around the visit of Venerable Shanru which has masterfully curated journey into the heart of Buddhist practice.

In anticipation of this significant event, MKBA developed and disseminated bilingual promotional materials (in English and Chinese), leveraging online platforms, social media, community networks, and direct outreach to Buddhist organisations and temples across the UK. These events attracted attendees from diverse cultural backgrounds and various regions of the UK. The positive response underscored the growing interest in Buddhist learning and the importance of MKBA’s role in making the Dharma accessible, engaging, and relevant to contemporary life.

MKBA is committed to continuing this momentum, ensuring its programs are inclusive, well-governed, and deeply rooted in the Buddha’s teachings.

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ANNUAL REPORT 2024

ACHIEVEMENTS

SEMINARS

designed to be accessible to everyone, regardless of their familiarity with Buddhism.

MKBA hosted a free seminar titled “The Meaning of Life from a Buddhist Perspective,” which has brought together participants from diverse backgrounds to explore Buddhist teachings on life’s profound questions. Venerable Shanru shared the Buddhist perspective on the nature of life, offering deep insights into concepts such as birth, aging, illness, and death, karma, suffering, and the notions of self and non-self. The teachings encouraged attendees to reflect on these universal aspects of existence and provided practical wisdom for addressing life’s challenges with greater clarity and resilience.

Another unique seminar titled

“Understanding the Three Refuges and Five Precepts,” featuring a combination of recorded teachings and a live Q&A session with Venerable Shanru. This event catered to both in-person and online participants, making it accessible to attendees from across the UK and beyond. The in-person gathering created a warm and welcoming atmosphere for community interaction, while the Zoom option enabled those unable to attend in person to join remotely and benefit from the teachings. This event was wellreceived, with participants appreciating the hybrid format that allowed greater accessibility and inclusivity.

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ANNUAL REPORT 2024

ACHIEVEMENTS

VESAK DAY CELEBRATION

It is with immense gratitude and joy that the Milton Keynes Buddhist Association were deeply honored to have been invited to the celebratory event marking the observance of the Vesak Day, held at 10 Downing Street, the official residence of the Prime Minister. We extend our sincere appreciation to Mr. Johnny Luk, Parliamentary Candidate for Milton Keynes Central, for graciously facilitating this meaningful opportunity.

We had the privilege of engaging in conversation with Lady Baroness Scott of Bybrook OBE, Member of the House of Lords and Parliamentary Under-Secretary of State for Social Housing and Faith where we took this occasion to respectfully conveyed the collective aspiration of our community to establish a dedicated Buddhist temple in Milton Keynes. This milestone would not have been possible without the unwavering support and dedication of each and every one of you. Together, we are taking meaningful steps toward fostering a lasting legacy of Dharma practice and community harmony in Milton Keynes.

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ANNUAL REPORT 2024

ACHIEVEMENTS

INTERFAITH & COMMUNITY ENGAGEMENT

In addition to its own events, MKBA was honoured to be invited to participate in the Interfaith Milton Keynes Poson Festival. This celebration, rooted in Sri Lankan Buddhist tradition, was a significant opportunity for MKBA to engage with local Buddhist communities, interfaith leaders, and members of the wider Milton Keynes public. MKBA’s participation reflected its commitment to unity and mutual understanding among different Buddhist traditions and religious communities. It also marked a meaningful step in MKBA’s evolving identity—not only as a Dharmabased organisation, but as an active contributor to the interfaith and cultural fabric of the UK.

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ANNUAL REPORT 2024

ACHIEVEMENTS

PROGRAMME HIGHLIGHTS

Great Compassion Repentance Ceremonies:

Providing participants with the opportunity to cultivate compassion, purify karma, and deepen their spiritual practice.

Meditation Workshops (Cantonese & English):

Designed to introduce participants to the fundamentals of seated meditation, offering tools for inner calm and mental clarity.

Buddhism for Young Minds:

An engaging session tailored for youth and young adults, promoting curiosity, critical thinking, and moral development through Buddhist perspectives.

Buddhism 101:

A beginner-friendly lecture aimed at introducing Buddhist teachings and practices to a general audience, many of whom were attending for the first time.

Three Refuges and Five Precepts Ceremony:

A profound moment for participants who chose to formally take refuge in the Triple Gem and commit to the Five Precepts—signifying a deepening of their spiritual journey and their connection to the Buddhist path.

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ANNUAL REPORT 2024

ACHIEVEMENTS

GREAT COMPASSION REPENTANCE CEREMONY

The unseen preparation: The venue is a spacious, serene hall, chosen specifically for its ability to transition from a secular space into a sacred vessel. This hall is no longer just a “rented space”.

It is set up by volunteers with mindfulness and devotion with their sincere goodwill. It has been transformed into mandala of practice – a protected, harmonious, and uplifted environment where every detail supports a single, powerful purpose: to allow each participant to turn inward, confront their obstacles with courage, and connect deeply with boundless, purifying compassion of Guanyin Bodhisattva.

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ANNUAL REPORT 2024

ACHIEVEMENTS

BUDDHISM FOR YOUNG MINDS

The Buddhism talk for young minds was a success. Kids and young adults connected with the core ideas, mindfulness breathing exercises, and the lesson on kindness. It made ancient wisdom feel practical and relevant their world.

I liked the course Buddhism for Young Minds. And I found that the blessed water has crystal in them very interesting. I also loved it when Venerable Shanru sprinkle water on me during the Repentance ceremony.

From Sophie Cook

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ANNUAL REPORT 2024

ACHIEVEMENTS

BUDDHISM 101

“The Buddhism 101 & Meditation Workshop” series successfully provided an accessible, educational, and experiential introduction to Buddhist philosophy and meditation practices. Designed for beginners and curious learners, the workshops aimed to enhance mental wellbeing, promote intercultural understanding within our community, and increased interest in ongoing mindfulness programs. Each workshop focused on a specific topics, blending with theory and practice:

  1. Introduction to Buddhism: History, core beliefs, diverse tradition

  2. Mindfulness of Breath: Foundations of seated meditation

  3. The Four Noble Truths: Understanding suffering and the path to liberation

Myself and my Daughter Sophie had the opportunity to visit Venerable Shanru. She delivered a beautifully calm and peaceful experience, this has led me to pursue my own path of enlightenment and start my study of Buddhism. My daughter Sophie also had a wonderful experience and enjoyed the younger minds session. Thank you to everyone from MK Buddhist Association.

From Kev Cook

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ANNUAL REPORT 2024

ACHIEVEMENTS

MEDITATION WORKSHOP

  1. The Eightfold Path: Ethical and mental development

  2. Impermanence & Non-Attachment: Letting go through reflection

  3. Dealing with Stress & Anxiety

  4. Compassion in Action: Engaged Buddhism

The inclusion of dual-language meditation workshops was a thoughtful and pivotal component of our August program, reflecting a deep understanding of the community’s needs. By conducting sessions in both Cantonese and English, MKBA intentionally dismantled the linguistic barriers, ensuring that the profound practice of meditation was genuinely accessible by everyone thereby deepening their understanding and comfort from the very beginning.

As a man who is never been a religious person, I was not sure what to expect during my first experience. It was by the end of a meditation session that I found myself really interested and even joined my partner for a chanting session. I found myself with a new perspective on things, for example, finding new motivation in my life. I also found everyone to be friendly and welcoming, and Master Shanru, was a very lovely and insightful person, very easy to talk to. I am strongly considering joining further sessions as soon as some English-speaking sessions become available. Thank you.

From Kenny

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ANNUAL REPORT 2024

ACHIEVEMENTS

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Three Refuges & Five Precepts
Ceremony
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TAKING REFUGE AND FIVE PRECEPTS CEREMONY

The "Three Refuges and Five Precepts Ceremony" is a profoundly significant event in a Buddhist's life. It is not merely a ritual, but a formal and public declaration of one's commitment to the Buddhist path. It is truly a profound honour and a rare blessing to be granted to take refuge in Triple Gems and to receive Five Precepts from a respected

Venerable Shanru. Her serene presence and compassionate energy help to create the sacred and focused atmosphere necessary for such a transformative step. We recognise this is not a mere ceremony, but as the planting of the seed of Dharma in our hearts, nurtured by the Venerable’s wisdom.

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ANNUAL REPORT 2024

ACHIEVEMENTS

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Three Refuges & Five Precepts
Ceremony
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Taking refuge in the Three Jewels, the Buddha, Dharma, Sangha, is the start of practising Buddhism

Following the taking of refuge, the practitioners formally undertake the Five Precepts. These precepts are not commandments handed down by divine authority to be obeyed. To view them as such would be a fundamental misunderstanding. Rather, they are training rules – freely and willingly accepted guidelines for cultivating a heart at peace with itself and in harmony with the world. By undertaking this precepts, practitioners establish Sila – the bedrock of moral virtue. This Sila is not an end in itself, but the

This Sila is not an end in itself, but the indispensable foundation for Samadhi (collectedness of mind), which in turn makes possible the unfolding of Prajna (liberating wisdom). Thus, the Five Precepts are the first and essential step on the Noble Eightfold Path.

“

We undertake this with a sincere heart, seeking the protection of the Triple Gem (Buddha, Dharma, Sangha), and with the aspiration to purity our conduct, thereby

creating causes for true peace and liberation.

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ANNUAL REPORT 2024

ACHIEVEMENTS

DEVOTEE REFLECTIONS

“

I was lucky as, after searching for ages, I had put up a post on Facebook asking about taking the Refuges and Five Precepts, when The Milton Keynes Buddhist Association (MKBA) found my post and invited me to receive both the Three Refuges and Five Precepts, they were also so welcoming and were kind enough to answer my questions I had about Buddhism and offer me books from their library. Participating in Three Refuges and Five Precepts Ceremony was a wonderful experience, especially with how everyone taking part was so welcoming of me despite me not being able to speak neither Cantonese or Mandarin and having very little understanding of Buddhist etiquette. From Daniel Wing

“

I am deeply grateful that shortly after immigrating to the UK, I encountered MKBA and had the opportunity to attend Venerable Shanru’s Dharma classes, where I was introduced to Buddhist sutras. Venerable Shanru also conducted the Three Refuges and Five Precepts ceremony, enabling many disciples to advance further on the Bodhi path. Her lecture on “Observing Precepts and Reciting the Buddha’s Name,” which gave me deeper insight into the importance of the essence of the precepts . Every teaching from

Venerable Shanru touched my heart profoundly, bringing me many realizations and helping me let go of past attachments. I was especially moved by the words: “It is not enough to live in the present moment — you must live the present moment well.” I found the Venerable to be a very approachable and wise teacher. I sincerely hope that in the near future, MK will have the right conditions to establish a permanent temple, so that Venerable Shanru may reside here and give more disciples and the wider community the opportunity to be close to the teacher and hear the Dharma. From Eugenie

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ANNUAL REPORT 2024

ACHIEVEMENTS

We are deeply gratified that the stories we shared and the success of our August event, Taking Refuge and Five Precepts Ceremony , resonated far beyond the occasion itself. The culmination of this resonance was a feature article in Buddhist Compassion Magazine , a respected Hong Kong publication dedicated to promoting compassionate action and values. This coverage holds particular significance for us. It not only validates the sincerity of our mission but also highlights the growing recognition of our work within the broader Buddhist community. By sharing our story through this platform, we were able to amplify our message to a wider audience, reinforcing our identity as an organization rooted in compassion, service, and spiritual growth. This milestone marks a vital step in strengthening our presence and deepening our roots within a community that is essential to our long-term growth .

Our August event featured in the Buddhist Compassion Magazine

It reminds us that every event we host is more than a moment in time—it is part of a larger narrative of transformation, connection, and collective progress.

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ANNUAL REPORT 2024

ACHIEVEMENTS

LUNAR CHINESE NEW YEAR EVENT

Celebrating Lunar New Year 2025 with joy, tradition, and community spirit.

Over 300 community members participated, including families, local businesses and supporters. The event generated approximately £500 exceeding the fundraising target. More than 15 MKBA volunteers contributed combined 50 hours of service, from preparation to event coordination. Attendees expressed increased appreciation of Lunar New Year traditions, strengthening cultural awareness and community bonds. We extend heartfelt gratitude to all volunteers and supporters. Their contributions are not only a celebration of heritage but also a meaningful act of merit-making. Each gesture of support— whether through time, resources, or presence—becomes a seed of wholesome karma that will bear fruit in the lives of individuals, families, and the wider community.

This year marked the second time since our establishment that we participated in the Lunar New Year celebrations by organising a fundraising stall.

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ANNUAL REPORT 2024

FINANCIAL REVIEW

FINANCIAL REVIEW (APRIL 2024 – APRIL 2025)

MKBA generated £18,019 in total income this year. While modest in scale, the income reflects a stable funding base with strong reliance on donations and careful financial managementBoard of Trustees recognized the importance of diversifying income streams to ensure resilience and sustainability in future years.

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化供应链；Q4整合资源冲刺收官。 Annual Revenue
2024-2025
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Donations and Legacies Interests from Investment Other Income

Donations & Legacies

It demonstrates trust in the charity’s mission but also signals a risk of over-dependence on a single income stream. This overwhelming reliance on donations highlights the commitment of individual supporters. MKBA Trustees aimed to explore diversification strategies (e.g., grants, membership system) to reduce vulnerability.

Investment Income

Returns from savings accounts demonstrate prudent financial management. Q1夯实基础，启动高毛利产品；Q2强 While the 化效率，拓展渠道；Q3动态调整，优 amounts are modest, they show that reserves are being used responsibly to generate 化供应链；Q4整合资源冲刺收官。 additional income. MKBA Trustees aimed to review whether funds are optimally invested, balancing risk and return while maintaining liquidity.

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ANNUAL REPORT 2024

FINANCIAL REVIEW

FINANCIAL REVIEW (APRIL 2024 – APRIL 2025)

Other Income

This represents minor, miscellaneous income sources. While not significant, it adds to overall sustainability. MKBA Trustees aimed to explore whether these “other” streams (e.g., fundraising events) could be scaled up.

This year’s financial stewardship reflects not only careful management of resources but also the charity’s commitment to creating meaningful experiences for our community. Every expense tells a story of how funds were transformed into opportunities for connection, celebration, and support.

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Expenditures
£167 £66
£227 2024-2025
£1,654
£1,952 £2,952
£1,729
£139
£106
£366
£79 £101
£260
£540
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Rent/Event Hall Hire Purchases/Other cost Advertising Telecom Uniforms Hospitality Costs PPS Website Cost Insurance Charitable Activities Accountancy Fee Subscription Charges Depreciation

Rent / Event Hall Hire

Our choice of venues allowed us to host Dharma talks, meditation retreats and community gatherings. By securing appropriate spaces, MKBA ensures that all events are accessible to everyone in a safe and welcoming environment.

Advertising

Funds were allocated to promote events and charitable initiatives through posters, flyers, and online announcements. This modest but effective promotion helps raise awareness of Buddhist teachings and reach wider audiences with diverse backgrounds.

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ANNUAL REPORT 2024

FINANCIAL REVIEW

FINANCIAL REVIEW (APRIL 2024 – APRIL 2025)

Hospitality Cost

Hospitality represents the largest single expense, covering transportation, meals, refreshments, travel arrangement and accommodations for guest speakers. The cost were allocated to guest speakers as a token of gratitude for their valuable supports, ensuring the speakers were warmly welcomed.

Charitable Activities

Direct program spending ensured that funds reached beneficiaries, supporting initiatives that aligned with our mission. The cost includes direct contribution to charitable works, including support for underprivileged families, educational programs, and community welfare initiatives. These expenditures embody the core mission of compassion.

Purchases & Other Costs

These costs cover essential supplies such as prayer materials, candles, incense, and administrative items. They support both the spiritual activities of the sangha and the smooth running of day-to-day operations.

Uniforms

Uniforms were provided for volunteers and staff during events, fostering a sense of unity and professionalism. This also helps present the charity in a respectful and organized manner to the public.

Insurance & Accountancy Fees

Insurance safeguards the charity against unforeseen risks, protecting both assets and participants during events. This reflects prudent stewardship of resources entrusted by donors. Professional accounting services ensure accurate financial reporting and compliance with statutory requirements. This reinforces accountability and transparency to trustees and donors.

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ANNUAL REPORT 2024

FINANCIAL REVIEW

FINANCIAL REVIEW (APRIL 2024 – APRIL 2025)

Website Costs

The website serves as a digital hub for teachings, event updates, and donation channels. Maintenance and hosting our digital presence ensure that the charity to share updates, remains visible and accessible to a wider audience, including international supporters and extend our reach beyond physical events

Other Costs

Telecom: Telecommunication expenses include phone and internet services, ensuring effective communication with volunteers, beneficiaries and supporters.

Printing, Postage & Stationeries (PPS): Printing : Covers the production of newsletters, event programs, donation forms, and educational materials that communicate the charity’s mission and activities to supporters. Postage : Relates to mailing fundraising appeals, thank-you letters, trustee communications, and outreach to donors who may not have digital access. Stationery : Includes paper, envelopes, pens, and other office supplies necessary for day-to-day administration and record-keeping. Subscriptions: covers the use of AI to record trustee meetings, committee discussions, and community forums. Custom Duty Charge: are levied by UK customs when we sourced typical items from abroad. This may include ceremonial goods, educational resources, and event supplies. Currency Conversion Charge: Incurred when payments for purchasing materials from oversea in foreign currencies are converted into local currency Depreciation: Depreciation accounts for the gradual wear and tear of assets such as equipment and furniture.

Overall Position

With total expenses of £10,339, the charity successfully balanced operational needs with program delivery. Importantly, we achieved a surplus of £7,680, demonstrating financial resilience, prudent management and the ability to sustain operations while continuing to reinvest into future activities. This surplus ensures that trustees can look ahead with confidence, knowing that the charity is well-positioned to continue serving the community.

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ANNUAL REPORT 2024

F IN A N CIAL REVIEW

Milton Keynes Buddhist Association 1204594
Receipts andpayments accounts CC16a
For the period
from
06/04/24		 To 05/04/25
Section A Receipts and payments Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
17,714
217
88
-
-
-
-
-
18,019
-

-
18,019
1,952
1,654
167
66
227
2,952
366
260
101
1,729
540
79
106
-
-
10,199
696
-
696
10,895
7,123
15,088
22,211		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
17,714
217
88
-
-
-
-
-
18,019
-
-
-
18,019
1,952
1,654
167
66
227
2,952
366
260
101
1,729
540
79
106
-
-		 Last year
to the nearest £
Donations and legacies 17,714 18,132
Interest Income 217 27
Other Income 88 -
- -
- -
- -
- -
- -
Sub total(Gross income for AR) 18,019 18,159
A2 Asset and investment sales,
(see table).
- -
Sub total
-		 -
Total receipts
A3 Payments
18,159
Rent/Event hall hire 1,952 1,952 960
Purchases/Other cost 1,654 1,654 116
Advertising 167 167 56
Telecom 66 66 -
Uniforms 227 227 131
Hospitality Costs 2,952 2,952
PPS 366 366 53
Website Cost 260 260
Insurance 101 101 101
Charitable activities 1,729 1,729 1,058
Accountancy fee 540 540
Subscription 79 79
Charges 106 106
Legal Fee - - 597
- - -
Sub total 10,199 10,199 3,071
696
-
696
10,895
7,123
A4 Asset and investment
purchases, (see table)
Dharma Drum 696 -
-
Sub total 696 -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
3,071
7,123 - - 7,123 15,088
- -
15,088 - - 15,088 -
22,211 - - 22,211 15,088

31

A N N UAL REPO RT 20 24

F IN A N CIAL REVIEW

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B4 Assets retained for the
charity’s own use
B3 Investment assets
B2 Other monetary assets
B1 Cash funds		 Signature
Details
Details
Details
Dharma Drum
Details
Main Funds (Bank)
Main Funds (Instant Access Account)
Main Funds (Savings)
Total cash funds
(agree balances with receipts and payments
account(s))
Details		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
4,396
-
7,755
-
10,060
-
22,211
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
696
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name
YeangYeangYee
Alan Siu
A N N UAL REPO RT		 Restricted
funds
to nearest £
-
-
-
-		 Endowment
funds
to nearest £
- -
- -
- -
- -
OK OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
11.1.2026
11.1.2026
3
20 24

32

F IN A N CIAL REVIEW

Section A

CHARITY COMMISSION Independent examiner's FOR ENGLAND AND WALES report on the accounts

Independent Examiner's Report

Milton Keynes Buddhist Association members of Report to the trustees/ I L_ ________ -----" On accounts for the year 05/04/2025 Charity no 1204594 ended (if any) Set out on pages

I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 05/04/2025.

Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed: Date: 05/01/2026 L - ---d:,H - " 4 - -------__, I Name: Prasanth Ganguly Address: TaxAssist Accountants Milton Keynes Luminous House, 300 South Row, Milton Keynes; MK9 2FR

33

A N N UAL REPO RT 20 24

IER

FINANCIAL REVIEW

RESERVES POLICY

MKBA maintains a formal Reserves policy to ensure that MKBA maintains adequate financial resources to support its mission of promoting the teachings of Buddhism and serving community needs of its beneficiaries. The amount held in reserves will be monitored during the course of the year as part of MKBA’s budgetary process and financial monitoring. MKBA’s approach to Reserves policy depends on the size, complexity of activities, legal structure and the nature of funds received and held by the charity.

Level of Reserves

MKBA’s target level of reserves may be expressed as a target figure or a target range and will be informed by:

MKBA aims to maintain reserves equivalent to 6 months of annual operational expenditure. This level is sufficient to cover:

34

ANNUAL REPORT 2024

FINANCIAL REVIEW

FINANCIAL REVIEW (APRIL 2024 – APRIL 2025)RESERVES POLICY

Annual Reporting

MKBA will include the charity’s policy on reserves in the annual report, stating the level of reserves held and why these are held. We will ensure that our reporting of our reserves policy meets the requirements of the Charities Statement of Recommended Practice (SORP) (FRS 102) and the requirements of the Regulations.

Current Reserves Position

As of 31[st] March 2025, MKBA holds £2,000 - £3,000 in reserves, which represents 12 months of operating expenditure. This is in line with the policy target and provides a stable financial foundation for the charity’s activities.

Use of Excess Reserves

Should reserves exceed the target level, the trustees will allocate the surplus to projects and activities that align with the charity’s mission, such as expanding Buddhist teachings, enhancing community services, or improving facilities.

Addressing Shortfalls

If reserves fall below the target level, the trustees will implement measures to rebuild reserves through cost management, fundraising initiatives, and other appropriate strategies.

Approval

This policy was approved by the Board of Trustees in November 2024 and will be reviewed by the Board annually, as part of our financial planning cycle.

35

ANNUAL REPORT 2024

DECLARATION

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Statement of Trustees’ Responsibilities: The trustees confirm that, to the best of their knowledge, they have met their responsibilities during the financial year.

Trustees’ Roles and Responsibilities: The trustees are responsible for ensuring that the charity operates in compliance with its governing document and relevant laws. They are also responsible for safeguarding the assets of the charity and ensuring that these are used exclusively to further its charitable purposes. The trustees are required to:

  1. Prepare and approve an annual report and financial statements in accordance with applicable laws and standards.

  2. Maintain accurate and up-to-date financial records.

  3. Ensure the charity remains financially sustainable and manages risks effectively.

  4. Demonstrate how the charity delivers public benefit through its activities.

FINANCIAL REVIEW (APRIL 2024 – APRIL 2025)DECLARATION

The trustees declare that they have approved this report on 15[th] January 2026 and confirm that it complies with the requirements of the Charities Act 2011.

Annual Trustees Report prepared by Yeang Yee Signed on behalf of the charity’s trustees:

Name: Alan Siu

Date: 25/01/2026 Role: Chair, Milton Keynes Buddhist Association (UK)

ANNUAL REPORT 2024 36

MILTON KEYNES BUDDHIST ASSOCIATION (UK) REGISTERED CHARITY NUMBER: 1204594 WWW.MKBA.ORG.UK

MKBUDDHIST@GMAIL.COM

Milton Keynes Buddhist Association 1204594
Receipts andpayments accounts CC16a
For the period
from
06/04/24		 To 05/04/25
Section A Receipts and payments Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
17,714
217
88
-
-
-
-
-
18,019
-
-
18,019
1,952
1,654
167
66
227
2,952
366
260
101
1,729
540
79
106
-
-
10,199
696
-
696
10,895
7,123
15,088
22,211		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
17,714
217
88
-
-
-
-
-
18,019
-
-
-
18,019
1,952
1,654
167
66
227
2,952
366
260
101
1,729
540
79
106
-
-		 Last year
to the nearest £
Donations and legacies 17,714 18,132
Interest Income 217 27
Other Income 88 -
- -
- -
- -
- -
- -
Sub total(Gross income for AR) 18,019 18,159
A2 Asset and investment sales,
(see table).
- -
Sub total - -
Total receipts
A3 Payments
18,159
Rent/Event hall hire 1,952 1,952 960
Purchases/Other cost 1,654 1,654 116
Advertising 167 167 56
Telecom 66 66 -
Uniforms 227 227 131
Hospitality Costs 2,952 2,952
PPS 366 366 53
Website Cost 260 260
Insurance 101 101 101
Charitable activities 1,729 1,729 1,058
Accountancy fee 540 540
Subscription 79 79
Charges 106 106
Legal Fee - - 597
- - -
**Sub total ** 10,199 10,199 3,071
696
-
696
10,895
7,123
A4 Asset and investment
purchases, (see table)
Dharma Drum 696 -
-
**Sub total ** 696 -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
3,071
7,123 - - 7,123 15,088
- -
15,088 - - 15,088 -
22,211 - - 22,211 15,088

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B4 Assets retained for the
charity’s own use
B3 Investment assets
B2 Other monetary assets
B1 Cash funds		 Signature
Details
Details
Details
Dharma Drum
Details
Main Funds (Bank)
Main Funds (Instant Access Account)
Main Funds (Savings)
Total cash funds
(agree balances with receipts and payments
account(s))
Details		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
4,396
-
7,755
-
10,060
-
22,211
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
696
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name
YeangYeangYee
Alan Siu		 Restricted
funds
to nearest £
-
-
-
-		 Endowment
funds
to nearest £
- -
- -
- -
- -
OK OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
11.1.2026
11.1.2026

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Milton Keynes Buddhist Association On accounts for the year ended 0510412025 Charity no (if anyl 1204594 Set out on pages I report to the trustees on my examination of the accounts of the above charity ('the Trust") for the year ended 0510412025. Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charilies Act 2011 {"the Acr). I report in 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 the applicable Dirertions given by the Charity Commission under section 145(5}{b) of the Act. Independent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: Date: 0510112026 Name: Prasanth Ganguly Address: TaxAssist Accountants Milton Keynes Luminous House, 300 South Row, Mifton Keynes., MK9 2FR IER October 2018