2023-03-31-accounts - The London Buddhist Centre

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Council Members	Dr P Groves
	Sandra Turner	(Suryagupta),	Chair
	Ms C Edwards
	Mr DWaterston
	Mr0 Brock
	Ms JWeiss
	Ms H Murray
	Dr D Showman
	Mr G Miller			(Appointed	on 14February 2023)
	Mr R Mains			(Appointed	on 24 May 2022)
	Ms H Burgess			(Appointed	on 20June 2023)
Charity Number	233420
Auditor	Saffery LLP
	StCatherine's	Court
	Berkeley Place
	Clifton
	Bristol
	BSB1BQ
Bankers	Lloyds Bank
	70-71Cheapside
	London
	EC2V 6EN
	Triodos Bank
	11The Promenade
	Clifton
	Bristol
	BS83NN
	Clydesdale Bank PLC
	London
	SW1Y4ND
Solicitors	Edward Harte	&Co
	6 Pavilion Parade
	Brighton
	East Sussex
	BN1 1RA

			Page
The Chair's update			1-2
Council Members' report			3-6
Statement ofCouncil	Members'	responsibilities
Independent Auditor's	report		8-11
Statement of Financial	Activities		12
Balance Sheet			13
Statement ofCash Flows			14
Notes to the Accounts			16-30

				Unrestricted	Restrfcted	Total	Total
				funds	funds
			Notes	2023	2023	2023	2022
				6	6	6	E
Income from:
Donations and legacies				769,524	27,552	797,076	266,076
Charitable activities				1,159,979		1,159,979	992,786
Trading activities —shops				257,182		257,182	246,371
Investments				15,600		15,600	15,600
Total income				2,202,285	27,552	2,229,837	1,520,833
Expenditure on:
Raising funds -shops running		costs		188,261		188,261	179,873
Charitable activities				1,463,268	6,994	1,470,262	1,180,462
Total resources expended				1,651,529	6,994	1,658,523	1,360,335
Net Gain/(losses) on Investment							11,000
Net (expenditure)/income	for	the
year
Net movement in funds				550,756	20,558	571,314	171,498
Fund balances at 1April 2022				3,935,829	13,051	3,948,880	3,777,382
Fund balances at31March	2023			4,486,585	33,609	4,520,194	3,948,880


			Notes
Fixed assets
Tangible assets			15		3,783,352		3,824,231
Investment properties			16		567,000		567,000
					4,350,352		4,391,231
Cunent assets
Stocks			17	19,904		21,289
Debtors due within one year			18	649,930		37,254
Cash at bank and in hand				802,551		920,603
				1,472,385		979,146
Creditors: Amounts	falling due
within one year			19	(215,287)		(239,318)
Net current assets					1,257,098		739,828
Total assets less current		liabilities			5,607,450		5,131,059
Creditors: Amounts	faglng due
after more than one	year		20		(1,087,256)		(1,182,179)
Net assets					4,520,194		3,948,880
Income funds
Restricted funds			23		33,609		13,051
Designated funds			24	3,250,140		3,249,684
General unrestricted	funds			1,236,445		686,145
					4,486,585		3,935,829
Total Funds					4,520,194		3,948,880


		Notes		6		6
Cash flows from operating	activities
Cash generated from operations			30		33,641		2,583,774
Investing activities
Purchase oftangible fixed	assets			(60,071)		(2,342,982)
					(60,071)		(2,342,982)
Net cash used in investing	actlvltles
Financing activities
Repayment ofbank loans				(91,622)		(96,324)
Net cash used in financing	activities				(91,622)		(96,324)
					(118,052)		144,468
Net Increase in cash and cash equivalents
Cash and cash equivalents	at beginning	of	year		920,603		776,135
Cash and cash equivalents	at end ofyear		29		802,551		920,603

Freehold	land	Not depreciated
Freehold	buildings	SOyears
Furniture	and equipment	Syears
Motor vehicles		4years

ncome from donations and legades
	Unrestricted	Restricted	Total
	funds	funds
	E	E
Legacies	590,000		590,000
Donations	179,524	27,552	207,076
For the year ended 31March 2023	769,524	27,552	797,076
Legacies
Donations	249,523	16,553	266,076
Forthe year ended 31March 2022	249,523	16,553	266,076

4.	Trading acti	v	ities —sho	p	s
									Unresoicted	Unrestricted
									funds	funds
									2023 f	2022f
	Shop income								257,182	246,371
	Incoming resources from					charitable	activities - analysis	by activities
									2023 E	2022f
	London Buddhist Centre events								234,668	216,642
	Breathing Space								97,901	87,284
	Retreat Centre events								464,708	337,886
	Properties	and Residential				communities			362,702	350,974
									1,159,979	992,786
6,	Investments
									2023f	2022 E
	Investment	property-		rental income					15,600	15,600
									15,600	15,600
7.	Expenditure		on raising	funds - shops			running costs
									Unrestricted	UnrestrIcted
									funds	funds
									2023 E	2022f
			dd
	Shop running		costs						49,476	36,701
	Staff costs								98,217	104,383
	Support and		governance		costs				40,568	38,789
	Fundraising		and publicity						188,261	179,873

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		2023 f	2022f
Grants	to institutions
Trlratna	Buddhist Order Central	34,035	35,680
Abhayaratna Trust			14,200
Krakow	Buddhist Centre	11,985
Future	Dharma Fund	8,568
Tlratanakola		4,565
Other grants under f2,000each		7,023	3,497
		66,176	53,377
Grants	to Individuals	10,000
		76,176	53,377

upport c	osts
		Support	Governance	2023	2022	Basis ofallocation
		costsf	costsf
Depreciation		58,950		58,950	56,649	Staff time on activity
Postage and stationery		848		848	947	Staff time on activity
ITcosts		16,033		16,033	15,640	Stafftime on activity
Bank charges		8,304		8,304	6,353	Stafftime on activity
Telephone Travel		3,003 16,679		3,003 16,679	3,387 6,537	Staff time on activity staff time on activity
Sundry expenses		8,536		8,536	1,194	Staff time on activity
Insurance		33,960		33,960	30,475	Staff time on activity
Interest payable		55,136		55,136	40,887	Stafftime on activity
Audit fees			15,150	15,150	12,350	Governance
Legal and	professional
fees			24,882	24,882	24,496	Governance
		201,449	40,032	241,481	198,915
Analysed	between
Fundraising		33,843	6,725	40,568	48,222
Charitable	activities	167,606	33,307	200,913	150,693
		201,449	40,032	241,481	198,915

The average monthly number ofemployees during	the year was:
	2023	2022
	Number	Number
LBCcharity shops
London Buddhist centre events
Breathing space
Retreat centre events
Buddhist communities
Support
Governance
	32	30
Employment costs
	2023	2022
	6	6
Wages and salaries	510,384	473,898
Social security costs	31,440	26,483
Other pension costs	41,091	36,088
	582,915	536,469

angible fixed assets
		Freehold	Rxtures	Motor	Total
		land and	and	vehicles
		buildings	equipment
		6	6
Cost
At 1April 2022		4,513,103	142,918	11,911	4,667,932
Additions		49,626	8,945	1,500	60,071
Dlsposals			(10,100)		(10,100)
At31March 2023		4,562,729	141,763	13,411	4,717,903
Depreciation and impairment
At 1April 2022		734,266	100,127	9,308	843,701
Depreciation charged	In the year	85,282	12,315	3,353	100,950
Eliminated on disposal			(10,100)		(10,100)
At31March 2023		819,548	102,342	12,661	934,551
Carrying amount
At31March 2023		3,743,181	39,421	750	3,783,352
At31March 2022		3,778,837	42,791	2,603	3,824,231

		2023
Fair value
At 1April 2022		567,000
Net gains or losses through	fair value adjustments
At31March 2023		567,000

Stocks
		2023	2022
Finished goods and goods resale		19,904	21,289
Debtors
Amounts falling due within one year:
		2023	2022
Trade debtors		4,450	5,730
Other debtors		621,460	29,799
Prepayments	and accrued income	24,020	1,725
		649,930	37,254

Creditors: am	ounts falling due	within one year
			2023	2022
		Notes
Bankloans		21	102,638	99,337
Other taxatlon	and social security		717	7,685
Deferred Income			68,834	63,349
Other creditors			12,590	11,489
Accrvals			30,508	57,458
			215,287	239,318

20.	Creditors: amounts falling	due after more than one yea	r
			2023	2022
		Notes
	Bankloans	21	1,087,256	1,182,179
			1,087,256	1,182,179
21.	Loans and overdrafts
			2023	2022
			6	6
	Bank loans		1,189,894	1,281,516
			1,189,894	1,281,516
	Payable within one year		102,638	99,337
	Payable after one year		1,087,256	1,182,179

Financial	instru	ments
					2023	2022
Carrying	amount	ofRnancial	assets
Debt instruments		measured	at amortised	cost	649,929	36,007
Carrying	amount	offinancial	liabgities
Measured	at amortised cost				1,272,035	1,364,039

					Movement	in funds
				Balance at	IncomIng	Resources	Balance at
				1April 2022 f	resources f	expended F.	31March 2023 f
Triratna	Buddhist	Order	India	3,884			4,333
Ratnasambhava		Fund		9,167	320	(6,994)	2,493
Mandala	Caff				20,783		20,783
Navakula	Kitchen				6,000
				13,051	27,552	(6,994)	33,609

out ofunre	stricted fu	nds by the truste	es for specific	purposes:
		Balance at	Transfers	Balance at	Transfers	Balance at
		1April 2021		1April 2022		31March 2023
				6	6	E
Fixed assets	fund	854,000	2,297,894	3,151,894	8,564	3,160,458
Major repairs reserve		60,000	4,616	64,616	(8,117)	56,499
Residential
community	fund	26,844	6,330	33,174		33,183
		940,844	2,308,840	3,249,684	456	3,250,140

		unrestricted	Restricted	Total
Fund balances at 31March 2023are represented	by:	6	6	6
Tangible assets		3,783,352		3,783,352
Investment properties		567,000		567,000
Current assets/(liabilities)		1,223,489	33,609	1,257,098
Long term liabilities		(1,087,256)		(1,087,256)
		4,486,585	33,609	4,520,194

Analy	sis ofchan	ges in net (debt)/funds
			At 1April 2022	Cash flows	At 31March 2023
			E	6	E
Cash	at bank and	in hand	920,603	(118,052)	802,551
Loans	falling due	within one year	(99,337)	(3,301)	(102,638)
Loans	falling due	after more than one year	(1,182,179)	94,923	(1,087,256)
			(360,913)	(26,430)	(387,343)

Cash generated from operat	io	ns
					2023	2022
					f	f
(Deficit)/surplus forthe year					571,314	171,498
Adjustments for:
Loss on disposal ofRxed assets						1,004
Depreciation and impairment	of	tangible fixed assets			100,950	97,482
Fair value adjustment ofInvestment			property			(11,000)
Movements in working capita	h
Decrease /(increase)in stocks					1,385	(11,037)
Decrease/(Increase) In debtors					(612,676)	2,253,171
(Decrease)/increase In creditors					(32,817)	17,663
(Decrease) / increase in deferred		income			5,485	64,993
Cash generated from operations					33,641	2,583,774
Fund accounting comparative		figures
				Unrestricted	Restricted	Total
				funds	funds
				2022 f	2022f	2022 f
Income from:
Donations and legacies				249,523	16,553	266,076
Charitable activities				992,786		992,786
Trading activities -shops				246,371		246,371
Investments				15,600		15,600
Total Income				1,504,280	16,553	1,520,833
Expenditure on:
Raising funds -shops running	costs			179,873		179,873
Charitable activities				1,150,527	29,935	1,180,462
Total resources expended				1,330,400	29,935	1,360,335
Net Gain/(losses) on Investment				11,000		11,000
Net (expenditure)/income for the			year/
Net movement in funds				184,880	(13,382)	171,498
Fund balances at 1April 2021				3,750,949	26,433	3,777,382
Fund balances at 31March 2022				3,935,829	13,051	3,948,880