2022-03-31-accounts - The London Buddhist Centre

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`CouncilMembers`	`MrJ Reeves`	`(Resignedon13January2022)`
	`MsE Light`	`{Resignedon11June2021)`
	`DrP Groves`
	`MrS Skelton`	`(Resignedon1 June2022)`
	`MsM Healy`	`(Resignedon31December2021)`
	`SandraTurner(Suryagupta),Chair`
	`MsC Edwards`
	`MrD Waterston`
	`MrO Brock`
	`MsJ Weiss`
	`MsH Murray`	`(Appointedon14September2021)`
	`DrD Showman`	`(Appointedon 14September2021)`
`CharityNumber`	`255420`
`Auditor`	`SafferyChampnessLLP`
	`StCatherine’sCourt`
	`BerkeleyPlace`
	`Clifton`
	`Bristol`
	`BS81BQ`
`Bankers`	`LioydsBank`
	`70-71Cheapside`
	`London`
	`EC2V6EN`
	`TriodosBank`
	`11ThePromenade`
	`Clifton`
	`Bristol`
	`BS83NN`
	`ClydesdaleBankPLC`
	`London`
	`SW1Y4ND`
`Solicitors`	`EdwardHarte& Co`
	`6PavilionParade`
	`Brighton`
	`EastSussex`
	`BN11RA`

	`Page`
`TheChair'supdate`	`1-2`
`CouncilMembers’report`	`3-6`
`StatementofCouncilMembers’responsibilities`	`7`
`IndependentAuditor’sreport`	`8-11`
`StatementofFinancialActivities`	`12`
`BalanceSheet`	`13`
`StatementofCashFlows`	`14`
`NotestotheAccounts`	`14-30`

26 January 2023

		`Unrestricted`	`Restricted`	`Total`	`Total`
		`funds`	`funds`
	`Notes`	`2022`	`2022`	`2022`	`2021`
		`£`	`£`	`£`	`£`
`Incomefrom:`
`Donationsandlegacies`	`3`	`249,523`	`16,553`	`266,076`	`502,834`
`Charitableactivities`	`5`	`992,786`	`-`	`992,786`	`534,625`
`Tradingactivities— shops`	`4`	`246,371`	`-`	`246,371`	`108,723`
`Investments`	`6`	`15,600`	`-`	`15,600`	`14,344`
`Totalincome`		`1,499,907`	`20,926`	`1,520,833`	`1,160,526`
`Expenditureon:`
`Raisingfunds— shopsrunningcosts`	`7`	`179,873`	`7`	`179,873`	`175,380`
`Charitableactivities`	`8`	`1,150,527`	`29,935`	`1,180,462`	`603,374`
`Totalresourcesexpended`		`1,330,400`	`29,935`	`1,360,335`	`778,754`
`NetGain/(losses)onInvestment`	`14`	`11,000`	`-`	`11,000`	`-`
`Net(expenditure)/incomeforthe`
`year`
`Netmovementinfunds`		`184,880`	`(12,382)`	`171,498`	`381,772`
`Fundbalancesat1 April2021`		`3,750,949`	`26,433`	`3,777,382`	`3,395,610`
`Fundbalancesat31March2022`		`3,935,829`	`13,051`	`3,948,880`	`3,777,382`

	`Notes`			`£`	`£`
`Fixedassets` `Tangibleassets` `Investmentproperties`	`15` `16`		`3,824,231` `567,000`		`1,579,735` `556,000`
			`4,391,231`		`2,135,735`
`Currentassets` `Stocks` `Debtorsduewithinoneyear` `Cashatbankandinhand`	`18` `19`	`21,289` `37,254` `920,603`		`10,252` `2,290,425` `776,135`
		`979,146`		`3,076,812`
`Creditors:Amountsfallingdue` `withinoneyear`	`20`	`(239,318)`		`(153,695}`
`Netcurrentassets`			`739,828`		`2,923,117`
`Totalassetslesscurrentliabilities`			`5,131,059`		`5,058,852`
`Creditors:Amountsfallingdue`
`aftermorethanoneyear`	`21`		`(1,182,179)`		`(1,281,470)`
`Netassets`			`3,948,880`		`3,777,382`
`Incomefunds` `Restrictedfunds` `Designatedfunds` `Generalunrestrictedfunds`	`23` `24`	`3,249,684` `686,145`	`13,051`	`940,844` `2,810,105`	`26,433` `3,750,949`
`TotalFunds`			`3,948,880`		`3,777,382`


	`Notes`
`Cashflowsfromoperatingactivities`
`Cashgeneratedfromoperations`		`28`		`2,583,774`		`184,260`
`Investingactivities` `Purchaseoftangiblefixedassets`		`28`	`(2,342,982)`		`(26,210)`
				`(2,342,982)`		`(26,240)`
`Netcashusedininvestingactivities`
`Financingactivities`
`Repaymentofborrowings`					`(8,164)`
`Repaymentofbankloans`			`(96,324)`		`(135,391)`
`Netcashusedinfinancingactivities`				`(96,324)`		`(143,555)`
				`144,468`		`14,495`
`Netincreaseincashandcashequivalents`
`Cashandcashequivalentsatbeginningof`	`year`			`776,135`		`761,640`
`Cashandcashequivalentsatendofyear`	`=.`	`27`		`920,603`		`776,135`

`Freeholdjand`	`Notdepreciated`
`Freeholdbuildings`	`50years`
`Furnitureandequipment`	`5years`
`Motorvehicles`	`4years`

				`Unrestricted`	`Restricted`	`Totai`
				`funds`	`funds`
				`£`	`£`	`£`
`For theyearended`	`31`	`March`	`2022`	`249,523`	`16,553`	`266,076`
`Fortheyearended`	`31`	`March`	`2022`	`467,855`	`34,979`	`502,834`

		`Unrestricted`	`Unrestricted`
		`funds`	`funds`
		`2022`	`2021`
		`£`	`£`
	`Shopincome`	`246,371`	`108,723`
`5.`	`incomingresourcesfromcharitableactivities- analysisbyactivities`
		`2022`	`2021`
		`£`	`£`
	`LondonBuddhistCentreevents`	`216,642`	`111,768`
	`BreathingSpace`	`87,284`	`76,655`
	`RetreatCentreevents`	`337,886`	`-`
	`PropertiesandResidentialcommunities`	`350,974`	`346,202`
		`992,786`	`534,625`
`6.`	`Investments`
		`2022`	`2021`
		`£`	`£`
	`Investmentproperty— rentalincome`	`15,600`	`14,250`
	`Interestfrombankdeposits`	`-`	`94`
		`15,600`	`14,344`
`7.`	`Expenditureonraisingfunds- shopsrunningcosts`
		`Unrestricted`	`Unrestricted`
		`funds`	`funds`
		`2022`	`2021`
		`£`	`£`
	`Fundraisingandpublicity`
	`Shoprunningcosts`	`36,701`	`20,685`
	`Staffcosts`	`104,383`	`105,924`
	`Supportandgovernancecosts`	`38,789`	`48,771`
	`Fundraisingandpublicity`	`179,873`	`175,380`

					`Total`		`2021`	`£`	`332,935`	`-`	`(120,592)`	`218,159`	`430,502`	`115,650`	`57,222`	`603,374`		`575,006`	`28,368`	`603,374`		`575,006`	`28,368`	`603,374`
					`Total`		`2022`	`£`	`432,086`	`40,833`	`-`	`547,417`	`1,020,336`	`130,469`	`29,662`	`1,180,466`		`1,147,026`	`33,790`	`1,180,466`
				`Retreat`	`centreevent`		`2022`	`£`	`51,209`	`40,833`	`-`	`167,529`	`259,571`	`-`	`-`	`259,571`		`259,571`	`-`	`259,571`		`-`	`-`	`-`
				`Grant`	`payable`		`2022`	`£`	`-`	`-`	`-`	`53,337`	`53,337`	`-`	`-`	`53,337`		`53,337`	`-`	`53,337`		`{71,149}`	`-`	`(71,149)`
				`Buddhist`	`community`		`2022`	`£`	`58,891`	`-`	`-`	`247,139`	`306,030`	`33,225`	`7,554`	`346,809`		`346,809`	`-`	`346,809`		`194,342`	`-`	`193,992`
				`Breathing`	`space`		`2022`	`£`	`86,453`	`-`	`-`	`3,714`	`90,167`	`26,094`	`5,932`	`122,193`		`122,193`	`-`	`122,193`		`130,142`	`-`	`130,142`
				`Londen`	`Buddhist`	`Centreevent`	`2022`	`£`	`235,533`	`-`	`-`	`75,658`	`311,191`	`71,150`	`16,176`	`398,517`		`364,727`	`33,790`	`398,517`		`321,671`	`28,368`	`350,039`
								`Notes`		`9`	`28`														`Page20of30`
`TheLondonBuddhistCentre`	`NotestotheFinancialStatements(continued)`	`Fortheyearended31March2022`	`8.` `Expenditureoncharitableactivities`						`Staffcosts`	`Depreciation`	`Reversalofimpairmentloss`	`Charitableactivities`		`Shareofsupportcosts(seenote11)`	`Shareofgovernancecosts{seenote11)`		`Analysisbyfund`	`Unrestrictedfunds`	`Restrictedfunds`		`Fortheyearended31March2021`	`Unrestricted funds`	`Restrictedfunds`

`9.`	`Grantspayable`
					`2022`	`2021`
					`£`	`£`
	`Grantstoinstitutions`
	`TriratnaBuddhistOrderCentral`				`35,680`	`39,910`
	`AbhayaratnaTrust`				`14,200`	`-`
	`Othergrantsunder£2,000each`				`3,497`	`9,533`
					`53,377`	`49,443`
	`Grantstoindividuals`				`-`	`-`
					`$3,377`	`49,443`
`10.`	`Supportcosts`
		`Support` `costs`	`Governance` `costs`	`2022`	`2021`	`_—Basisofallocation`
		`£`	`£`	`£`	`£`
	`Depreciation`	`56,649`	`-`	`56,649`	`46,747`	`Stafftimeonactivity`
	`Postageandstationery`	`947`	`-`	`947`	`883`	`Stafftimeonactivity`
	`ITcosts`	`15,640`	`-`	`15,640`	`27,481`	`Stafftimeonactivity`
	`Bankcharges`	`6,353`	`-`	`6,353`	`4,754`	`Stafftimeonactivity`
	`Telephone`	`3,387`	`-`	`3,387`	`2,876`	`Stafftimeonactivity`
	`Travel`	`6,537`	`-`	`6,537`	`2,903`	`Stafftimeonactivity`
	`Sundryexpenses`	`1,194`	`-`	`1,194`	`(10,773)`	`Stafftimeonactivity`
	`Insurance`	`30,475`	`-`	`30,475`	`29,416`	`Stafftimeonactivity`
	`Interestpayable`	`40,887`	`-`	`40,887`	`43,994`	`Stafftimeonactivity`
	`Auditfees`	`-`	`12,350`	`12,350`	`15,200`	`Governance`
	`Legalandprofessional`
	`fees`	`-`	`24,496`	`24,496`	`58,162`	`Governance`
		`162,069`	`36,846`	`198,915`	`221,643`
	`Analysedbetween`
	`Fundraising`	`41,037`	`7,185`	`48,222`	`48,771`
	`Charitableactivities`	`121,032`	`29,661`	`150,693`	`172,872`
		`162,069`	`36,846`	`198,915`	`221,643`

`heaveragemonthlynumberofemployeesduring`	`theyear was:`
	`2022`	`2021`
	`Number`	`Number`
`LBCcharityshops`	`6`	`6`
`LondonBuddhistcentreevents`	`7`	`11`
`Breathingspace`	`3`	`5`
`Retreatcentreevents`	`3`	`3`
`Buddhistcommunities`	`-`	`-`
`Support`	`11`	`3`
`Governance`	`-`	`1`
	`30`	`23`
`mploymentcosts`
	`2022`	`2021`
	`£`	`£`
`Wagesandsalaries`	`473,898`	`423,550`
`Socialsecuritycosts`	`26,483`	`28,486`
`Otherpensioncosts`	`36,088`	`32,3706`
	`536,469`	`484,406`

	`Freehold`	`Fixtures`	`Motor`	`Total`
	`landand`	`and`	`vehicles`
	`buildings`	`equipment`
	`£`	`£`	`£`	`£`
`Cost`
`At1 April2021`	`2,212,654`	`104,811`	`21,460`	`2,338,925`
`Additions`	`2,300,449`	`42,524`	`-`	`2,342,973`
`Disposals`	`-`	`(4,417)`	`(9,549)`	`(13,966)`
`At31March2022`	`4,513,103`	`142,918`	`11,911`	`4,667,932`
`Depreciationandimpairment`
`Ati April2021`	`651,781`	`91,361`	`16,048`	`759,190`
`Depreciationchargedintheyear`	`82,485`	`12,179`	`2,809`	`97,473`
`Eliminatedondisposal`	`-`	`(3,413)`	`{9,549}`	`(12,962)`
`At31March2022`	`734,266`	`100,127`	`9,308`	`843,701`
`Carryingamount`
`At31March2022`	`3,778,837`	`42,791`	`2,603`	`3,824,231`
`At31March2021`	`1,560,873`	`13,450`	`5,412`	`1,579,735`

	`2022`
	`£`
`Fairvalue`
`At1 Apri]2021`	`556,000`
`Netgainsorlossesthroughfairvalueadjustments`	`11,000`
`At31March2022`	`567,000`

	`2022`	`2021`
	`£`	`£`
`Finishedgoodsandgoodsresale`	`21,289`	`10,252`
`ebtors`
`Amountsfallingduewithinoneyear:`
	`2022`	`2021`
	`£`	`£`
`Tradedebtors`	`5,730`	`14,442`
`Otherdebtors`	`29,799`	`2,267,812`
`Prepaymentsandaccruedincome`	`1,725`	`8,171`
	`37,254`	`2,290,425`

		`2022`	`2021`
	`Notes`	`£`	`£`
`Bankloans`	`21`	`99,337`	`96,370`
`Othertaxationandsocialsecurity`		`7,685`	`10,965`
`Deferredincome`		`63,349`	`1,806`
`Tradecreditors`		`-`	`1,105`
`Othercreditors`		`11,489`	`11,538`
`Accruals`		`57,458`	`31,911`
		`239,318`	`153,695`

			`2022`	`2021`
		`Notes`	`£`	`£`
	`Bankloans`	`21`	`1,182,179`	`1,281,470`
			`1,182,179`	`1,281,470`
`21.`	`Loansandoverdrafts`
			`2022`	`2021`
			`£`	`£`
	`Bankloans`		`1,281,516`	`1,377,840`
			`1,281,516`	`1,377,840`
	`Payablewithinoneyear`		`99,337`	`96,370`
	`Payableafteroneyear`		`1,182,179`	`1,282,470`

	`2022`	`2021`
	`£`	`£`
`Carryingamountoffinancialassets`
`Debtinstrumentsmeasuredatamortisedcost`	`36,007`	`193,838`
`Carryingamountoffinancialliabilities`
`Measuredatamortisedcost`	`1,364,039`	`1,415,208`

			`Movement`	`infunds`
		`Balanceat`	`Incoming`	`Resources`	`Balanceat`
	`1`	`April2021`	`resources`	`expended`	`31March2022`
		`£`	`£`	`£`	`£`
`TriratnaBuddhistOrderIndia`		`26,433`	`7,386`	`(29,935)`	`3,884`
`RatnasambhavaFund`		`-`	`9,167`	`-`	`9,167`
		`26,433`	`16,553`	`(29,935)`	`13,051`

	`Balanceat`	`Transfers`	`Balanceat`	`Transfers`	`Balanceat`
	`1April2020`		`1April2021`		`31March2022`
		`£`	`£`	`£`	`£`
`Vajrasanaretreat`
`centre`	`42,000`	`(42,000)`	`-`	`-`	`-`
`Fixedassetsfund`	`506,500`	`347,500`	`854,000`	`2,297,894`	`3,151,894`
`Majorrepairsreserve`	`40,000`	`20,000`	`60,000`	`4,616`	`64,616`
`Residential`
`communityfund`	`32,573`	`{5,729}`	`26,844`	`6,330`	`33,174`
	`621,073`	`319,771`	`940,844`	`2,297,840`	`3,249,684`

	`Unrestricted`	`Restricted`	`Total`
`Fundbalancesat31March2022arerepresentedby:`	`£`	`£`	`£`
`Tangibleassets`	`3,824,231`	`-`	`3,824,231`
`investmentproperties`	`567,000`	`-`	`567,000`
`Currentassets/{liabilities)`	`722,404`	`17,424`	`739,828`
`Longtermliabilities`	`(1,182,179)`	`“`	`(1,182,179)`
	`3,931,456`	`17,424`	`3,948,880`

	`At1 April2021`	`Cashflows`	`At31March2022`
	`£`	`£`	`£`
`Cashatbankandinhand`	`776,135`	`144,468`	`920,603`
`Loansfallingduewithinoneyear`	`(96,370)`	`(2,967}`	`(99,337)`
`Loansfallingdueaftermorethanoneyear`	`(1,281,470)`	`99,291`	`(1,182,179)`
	`(601,705)`	`240,792`	`(360,913)`
`Cashgeneratedfromoperations`
		`2022`	`2021`
		`£`	`£`
`(Deficit)/surplusfortheyear`		`160,498`	`499,949`
`Adjustmentsfor:`
`Lossondisposaloffixedassets`		`1,004`	`1,846,135`
`Depreciationandimpairmentoftangiblefixedassets`		`97,482`	`88,960`
`Movementsinworkingcapital:`
`Decrease` `/(increase)instocks`		`(21,037)`	`6,822`
`Decrease/{increase)indebtors`		`2,253,171`	`{2,201,505)`
`(Decrease)/increaseincreditors` `(Decrease)/ increaseindeferredincome`		`17,663` `64,993`	`11,953` `(68,054)`
`Cashgeneratedfromoperations`		`2,583,774`	`184,260`

	`Unrestricted`	`Restricted`	`Total`
	`funds`	`funds`
	`2021`	`2021`	`2021`
	`£`	`£`	`£`
`incomefrom:`
`Donationsandlegacies`	`467,855`	`34,979`	`502,834`
`Charitableactivities`	`534,625`	`-`	`534,625`
`Tradingactivities— shops`	`108,723`	`-`	`108,723`
`Investments`	`14,344`	`-`	`14,344`
`Tota!income`	`1,125,547`	`34,979`	`1,160,526`
`Expenditureon:`
`Raisingfunds- shopsrunningcosts`	`175,380`	`-`	`175,380`
`Charitableactivities`	`575,006`	`28,368`	`603,374`
`Totalresourcesexpended`	`750,386`	`28,368`	`778,754`
`Net(expenditure)/incomefortheyear/`
`Netmovementinfunds`	`375,161`	`6,611`	`381,772`
`Fundbalancesat1 April2020`	`3,375,788`	`19,822`	`3,395,610`
`Fundbalancesat31March2021`	`3,750,949`	`26,433`	`3,777,382`