Charity registration number: 270460 ## Triratna Buddhist Community Surrey Annual Report and Financial Statements for the Year Ended 31 December 2024 ## **Triratna Buddhist Community Surrey** ## **Reference and Administrative Details** **Chairman** R Staunton (Vajragupta) **Trustees** K Bovis (Mokshadarshini) P Greenhalgh (Kalyananara) J Garrett (Prajnanandi) R Staunton (Vajragupta) D. Reynolds (Mokshaghosha) K. Fraser (Nagasiddhi) **Charity Registration Number** 270460 **Principal Office** The Buddhist Centre 96/98 High Street Croydon Surrey CR0 1ND **Independent Examiner** The McCay Partnership Independent Examiner Unit 24, Capital Business Centre 22 Carlton Road South Croydon Surrey CR2 0BS Page 1 ## **Triratna Buddhist Community Surrey** ## **Trustees Report** ## **Objectives and activities** ## _**Objectives and aims**_ The aims and objectives of the Charity are: - to encourage members and others to live in accordance with the teachings of the Buddha; • to support ordained members of the Triratna Buddhist Order and other duly ordained Buddhists, at the discretion of the Council of the Triratna Buddhist Community Surrey; - to maintain close communication with, and to work under the guidance of, the Triratna Buddhist Order and in - co-operation with other groups with the same objectives. ## _**Public benefit**_ The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Page 2 ## **Triratna Buddhist Community Surrey** ## **Trustees Report (continued)** ## **Introduction** _This report - written two-thirds of the way through 2025 - covers the activities of Triratna Buddhist Community Surrey for the 2024 calendar year._ ## **ARYATARA** The community at Aryatara grew from 8 to 10 men during the year, with two rooms now being shared by two men each, and others having single rooms. The community has three weekends together each year, to deepen connections and refresh the vision of a simple communal life. It is, maybe, currently the strongest part of the CBC mandala, bringing energy and focus into the Buddhist Centre, which is quite a turn-around from a few years ago! We invested in the fabric of the building by completely renovating one of the bathrooms. ## **HIDDEN GEMS** In April, Jill retired and left the team, to be replaced by Eszti Komlosi, a young woman in her twenties who also works two days per week in the Centre team on communcations. Later in the year, Jill was invited to join the 2025 Akashavana ordination course, where she received the name Sanghadharini. The shop has been a very significant help in her journey to ordination - she is one of Gem's big successes! In the autumn, Carol had to leave the shop team for health reasons and moved to full-time on the Centre team. She was replaced full-time by Katy Watts, another young woman in her twenties. This created a team of two young women alongside Lizzy Williams, and we were keen and pleased to have younger women on board. At the same time, the team now had less spittual experience and depth of commitment and need more support from the Vision Team, a story that would play out through 2025. For the second year running. Gems donated £30,000 to the Buddhist Centre from their previous years profits, a big help to the finances of the Buddhist Centre. ## **CROYDON BUDDHIST CENTRE** ## **Classes and newcomers** Towards the end of 2023, and throughout 2024, there was a drop in the number of newcomers attending classes. We tried to address this through the empoyment of Eszti as communications manager, and through putting energy into our website and SEO, etc. Maybe the situation was also not helped by Croydon High Street continuing to decline, with empty shops, a bankrupt local Borough Council, and homelessness and addiction more visible and obvious on the streets. Gem's takings were also slightly down in 2024. A success story was the reforming of the Young Buddhist project. Big thanks to Kit de Heger and Clemence Tanzi who ran activities once a month, even though they didn't live in Croydon. In 2024 Matt Clark took on the project, supported by Vityadeva, and we were able to start a weekly Young Buddhist evening, which has attracted a good crowd most weeks. Big thanks also to Simhasraddha, Gurnam, and the team who have continued to run People of Colour events once a month, as well as a full day event each year. The number of people of colour attending the Buddhist Centre is definitely increasing; who you see inside the Buddhist Centre reflects a bit more closely the population you'll see walking the streets of Croydon, and we're pleased about that. Page 3 ## **Triratna Buddhist Community Surrey** ## **Trustees Report (continued)** ## **Dana economy** Another success was that dana increased from £59.5K in 2023 to £74K in 2024 - a 26% increase, largely down to a drive for new regular donors that receiced a generous response. ## **Mitras, ordination training and ordinations** In 2022 we had 8 new mitras and 6 requests for ordination and in 2023 we had 11 new mitras and 8 requests to train for ordination. In 2024 there were 2 new mitras and 2 ordination requests. We also had Zoe and Liz become Gambhiralila and Viryadaya as they were ordained and joined the Triratna Buddhist Order - sadhu! Devaghosha and Vajragupta began a new Year One Foundation Course with a group of 8 new men. This was in addition to a Year Two group led by Viryadeva and Punyamati, and a Year Four group led by Dhira and Kalyananara. Viryadeva and Vajragupta also led Dharma study for men training for ordination on a number of Saturday afternoons at Aryatara, with an emphasis on high-quality Dharma input. On the women's side, study groups involved 6 Dharmaharinis leading to 18 mitras and 8 new women, covering material from Year 1 to Year 4. Croydon women training for ordination had the opportunity to attend three local events organised by Sucimani, and were also invited to participate in two London training events (with the Pan-London initiative) and 3 regional events (with the Jewel Quest initiative). In this way local women were able to connect up with Dharmacharinis and mitra friends beyond Croydon. Sucimani also continued to write her monthly newsletter to all women training for ordination which gives them a window into life in the Order. ## **Buddhist Centre building** There was another of our popular and effective working retreats during the year, where we worked on some small but important projects inside the building, and on giving the garden a new, simpler, look. More routine maintenance that requires contractors was increasingly managed by Gambhiralila - working quietly but effectively to keep the Centre up and running! ## Team 2024 wasn't the easiest year for the team: Vajragupta had a sabbatical and so was out of the picture for three months, and later in the year Viryadeva had three months off for health reasons. There was some sense of fatigue after a number of years hard work on a project in which a relatively small sangha has inherited a large and complex mandala, and we're punching above our weight. Late 2024, and into 2025, was a time of the team regrouping. ## **RIVENDELL** 2024 was also a time of great change for Rivendell. In the autumn Tejasiddhi departed for Cambridge, with our blessing and also our thanks for his hard work on the project since 2019. He had been extremely effective and efficient in overseering admin and finance, the Rivendell website and communications, programme planning, and overseeing the building management and maintenance. Page 4 ## **Triratna Buddhist Community Surrey** ## **Trustees Report (continued)** We're very grateful that Mokshaghosha - employed as gardener, he really stepped in and helped the team to evolve and adapt, going far beyond what was in his job description! Luke Williams had already been engaged half-way through the year to work on maintenance. Towards the end of the year Nicky Williams (no relation to Luke!) also joined as bookkeeper and Vidyadasa as website designer and IT help. There two both came as paty-timers and not living on site. It was hard to recruit team members living on-site and this placed a strain, especially on Mokshaghosha as the only remaining on-site team member, but also Niccy Lowit. Holding this situation and trying to respond to what became an unsustainable situation was one of the stories of 2025. During 2024, Rivendell nevertheless delivered another full, well-booked programme of retreats. Another highlight was a working retreat in the summer and volunteers contributing to deep cleaning a number of rooms in the main house, painting the yellow lounge, external painting of the east elevation of the main house, and garden projects including new garden beds with new planting, clearance work in the woodland and on the banks, and new benches for the garden. This was made more possible thanks to the gift of a large number of plants for the garden through Beccy Hill (one of Ridendell's regular volunteers). ## **TRUSTEES** Trustees continued to meet, on average every two months, at either the Buddhist Centre or Rivendell. On 9 October 2024, Tejasiddhi resigned and Mokshaghosha was elected by the trustees to join as a new trustee. This meant that the Trustees at the end of 2024 were: Kalyananara (Paul Greenhalgh); Mokshadarshini (Kay Bovis); Mokshagjosha (Dominic Reynolds); Nagasiddhi (Keith Fraser); Prajnanandi (Jane Garrett); and Vajragupta (Richard Staunton). Vajragupta was the Chair of Trustees and Mokshadarshini was Secretary. _Written by Vajragupta on behalf of the Trustees, August 2025_ Page 5 ## **Triratna Buddhist Community Surrey** ## **Trustees Report (continued)** ## **Financial instruments** ## _**Objectives and policies**_ The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. ## _**Cash flow risk**_ The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. ## _**Credit risk**_ The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. ## _**Liquidity risk**_ In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Page 6 ## **Triratna Buddhist Community Surrey** ## **Trustees Report (continued)** ## **Statement of Trustees' Responsibilities** The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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 irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on .................... and signed on its behalf by: ......................................... K Bovis (Mokshadarshini) Trustee ......................................... R Staunton (Vajragupta) Chairman and trustee Page 7 ## **Triratna Buddhist Community Surrey** ## **Independent Examiner's Report to the trustees of Triratna Buddhist Community Surrey** I report to the trustees on my examination of the accounts of Triratna Buddhist Community Surrey for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity trustees of Triratna Buddhist Community Surrey you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Triratna Buddhist Community Surrey's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by The Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** Since Triratna Buddhist Community Surrey's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of Triratna Buddhist Community Surrey as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ...................................... James Brendan McCay FCA Independent Examiner ICAEW Unit 24, Capital Business Centre 22 Carlton Road South Croydon Surrey CR2 0BS Date:............................. Page 8 ## **Triratna Buddhist Community Surrey** ## **Statement of Financial Activities for the Year Ended 31 December 2024** |**Note**
**Income and Endowments from:**
Donations, bequests and legacies
Charitable activities
2
Fundraising and shop sales
Investment income
Total income
**Expenditure on:**
Shop purchases and sundry costs
Charitable activities
3
Accountancy, legal and professional fees
6
Total expenditure
Net expenditure
Gain on revaluation of freehold property
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Prior year adjustment - Croydon Buddhist Centre
overstated creditors
Total funds carried forward
9||**Unrestricted**
**£**
85,149
306,030
98,567
4,210
493,956
(14,427)
(488,160)
(6,500)
(509,087)
(15,131)
-
(15,131)
3,513,977
-
3,498,846||**Total**
**2024**
**£**
85,149
306,030
98,567
4,210
493,956
(14,427)
(488,160)
(6,500)
(509,087)
(15,131)
-
(15,131)
3,513,977
-
3,498,846||**Total**
**2023**
**£**
81,742
309,515
97,249
2,387| |---|---|---|---|---|---|---| |||||||490,893| |||||||(17,971)
(481,382)
(5,100)| |||||||(504,453)| |||||||(13,560)
1,266,000| |||||||1,252,440
2,261,537
-| |||||||3,513,977| |||||||| The notes on pages 11 to 23 form an integral part of these financial statements. Page 9 ## **Triratna Buddhist Community Surrey** ## **(Registration number: 270460) Balance Sheet as at 31 December 2024** |**Note**
**2024**
**£**
**Fixed assets**
Tangible assets
12
3,196,715
**Current assets**
Stocks
10
8,914
Investments
11
321
Cash at bank and in hand
13
306,081
315,316
**Creditors: Amounts falling due within one year**
8
(13,187)
**Net current assets**
302,129
**Net assets**
3,498,844
**Funds of the charity:**
**Buildings revaluation reserve**
Restricted funds
9
2,310,972
**Unrestricted income funds**
Unrestricted funds
1,187,872
**Total funds**
9
3,498,844
Approved by the trustees of the charity on .................... and signed on its behalf by:
.........................................
K Bovis (Mokshadarshini)
Trustee
.........................................
R Staunton (Vajragupta)
Chairman and Trustee|**2023**
**£**
3,216,059
9,372
321
295,987| |---|---| ||305,680
(7,762)| ||297,918| ||3,513,977| ||2,310,972
1,203,005| ||3,513,977| ||| The notes on pages 11 to 23 form an integral part of these financial statements. Page 10 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024** - 1 Accounting policies ## **Statement of compliance** The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and The Charities Act 2011. ## **Basis of preparation** Triratna Buddhist Community Surrey meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. ## **Income and endowments** Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. ## _**Donated services and facilities**_ Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at its fair value unless its fair value cannot be reliably measured, then at the cost to the donor or the resale value of goods that are to be sold. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. ## _**Raising funds**_ These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Page 11 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## _**Charitable activities**_ Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Taxation** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Tangible fixed assets** Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. ## **Depreciation and amortisation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: ## **Depreciation method and rate** **Asset class Depreciation method and rate** Freehold buildings 2% on building value Fixtures, fittings and library books 20% straight line Motor vehicles 20% straight line Inalienable and historic Not subject to depreciation Inalienable and historic assets relate to Patrick Proctor artwork donated by Rainbow displayed in the Charity's gallery. This artwork is not subject to depreciation because it has an indefinitely long useful life and because its value is very likely to increase rather than decrease. The Charity reviews the value of the artwork every three years. ## **Current asset investments** Current asset investments are included at the lower of cost and net realisable value / market value. ## **Stock** Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO). ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## **Trade creditors** Page 12 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. ## **Fund structure** Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. ## **Financial instruments** ## _**Classification**_ Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 13 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## _**Recognition and measurement**_ All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 14 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## _**Debt instruments**_ Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method: (a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. (c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a). (d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. (f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment. ## _**Investments**_ Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Page 15 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** - 2 Income from charitable activities |Aryatara
Rivendell
Croydon Buddhist Centre
Lettings, retreat and rental income
Contribution from Hidden Gems to Croydon Buddhist
Centre
Contribution from Rivendell to Croydon Buddhist
Centre|**Unrestricted**
**General**
**£**
42,361
213,532
50,137
306,030
**Unrestricted**
**funds**
**General**
**£**
276,030
30,000
-
306,030|**Total**
**2024**
**£**
42,361
213,532
50,137
306,030
**Total**
**2024**
**£**
276,030
30,000
-
306,030|**Total**
**2023**
**£**
32,817
218,047
58,651| |---|---|---|---| ||||309,515| ||||**Total**
**2023**
**£**
274,515
30,000
5,000| ||||309,515| ||||| Page 16 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** - 3 Expenditure on charitable activities |Rivendell
Hidden Gems
Croydon Buddhist Centre
Aryatara
Rivendell
Hidden Gems
Croydon Buddhist Centre
Aryatara
Payroll and teaching costs
Property maintenance and cleaning
Retreat and letting costs
Depreciation
Rates and utility costs
Contributions from Hidden Gems and Rivendell to CBC
Donations
Office costs
Insurance
Bank charges and similar costs
Sundry operating costs|**Activity**
**support costs**
**£**
225,745
53,871
63,315
34,751
31,743
30,000
1,549
11,418
9,131
6,947
19,690
488,160|**Unrestricted**
**funds**
**General**
**£**
213,407
103,184
147,452
24,117
488,160
**Unrestricted**
**funds**
**General**
**£**
210,402
91,493
136,066
43,421
481,382
**2024**
**£**
225,745
53,871
63,315
34,751
31,743
30,000
1,549
11,418
9,131
6,947
19,690
488,160|**Total**
**2024**
**£**
213,407
103,184
147,452
24,117| |---|---|---|---| ||||488,160| ||||**Total**
**2023**
**£**
210,402
91,493
136,066
43,421| ||||481,382| ||||**2023**
**£**
186,399
73,789
68,811
33,469
27,886
35,000
8,974
6,310
9,384
7,399
23,961| ||||481,382| Page 17 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## 4 Trustees remuneration and expenses During the year the charity made the following transactions with trustees for services rendered to the charity - such as bookkeeping, etc. - rather than for services as a trustee only (the trustees are not remunerated for the services provided for acting as a trustee): ## **K Bovis (Mokshadarshini)** K Bovis (Mokshadarshini) received remuneration of £10,606 (2023: £10,327) during the year. The remuneration paid, salary and pension contribution, was in repect of the Mitra Convenor. ## **K Fraser (Nagasiddhi)** K Fraser (Nagasiddhi) received remuneration of £Nil (2023: £Nil) during the year. The remuneration paid, salary and pension contribution, was for employment as Rivendell manager. ## **I White (Tejasiddhi)** I White (Tejasiddhi) received remuneration of £7,505 (2023: £7,193) during the year. The remuneration paid, salary and pension contribution, was for Rivendell and other bookkeeping services. ## **R Staunton (Vajragupta)** R Staunton (Vajragupta) received remuneration of £10,654 (2023: £9,910) during the year. The remuneration paid, salary and pension contribution, was for duties relating to the role of Chairman and other services to the Charity. ## **D. Reynolds (Mokshaghosha)** D. Reynolds (Mokshaghosha) received remuneration of £8,200 (2023: £6,660) during the year. Page 18 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## 5 Staff costs The aggregate payroll costs were as follows: The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: |Paid trustees
Non-trustee staff|**2024**
**No**
4
9
13|**2023**
**No**
3
11| |---|---|---| |||14| 10 (2023 - 12) of the above employees participated in the Defined Contribution Pension Schemes. Contributions to the employee pension schemes for the year totalled £8,338 (2023 - £6,988). No employee received emoluments of more than £60,000 during the year During the year the charitymade the following transactions with key management personnel: ## **Staff and trustee payroll costs** The Staff and trustee payroll costs received remuneration of £178,219 (2023: £165,320) |6
Independent examiner's remuneration
**Other fees to examiners**
The examining of accounts of any associate of the charity
7
Taxation|**2024**
**£**
6,500|**2023**
**£**
5,100| |---|---|---| |||| The charityis a registered charity and is therefore exempt from taxation. Page 19 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** **----- Start of picture text -----**
8 Creditors: amounts falling due within one year
2024 2023
£ £
Other taxation and social security 6,687 2,663
Other creditors - (1)
Accruals 6,500 5,100
13,187 7,762
9 Funds
Balance at 31
Balance at 1 Incoming Resources December
January 2024 resources expended 2024
£ £ £ £
Unrestricted funds
General
Unrestricted income funds 1,203,005 493,956 (509,089) 1,187,872
Restricted funds
Buildings revaluation reserve 2,310,972 - - 2,310,972
Total funds 3,513,977 493,956 (509,089) 3,498,844
Balance at 1 Other
January Incoming Resources recognised
2023 resources expended Transfers gains/(losses)
£ £ £ £ £
Unrestricted funds
General
Unrestricted income funds 1,216,566 490,893 (504,454) (1,266,000) 1,266,000
Restricted
Buildings revaluation reserve 1,044,972 - - 1,266,000 -
Total funds 2,261,538 490,893 (504,454) - 1,266,000
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Page 20 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** **----- Start of picture text -----**
Balance at 31
December
2023
£
Unrestricted funds
General
Unrestricted income funds 1,203,005
Restricted
Buildings revaluation reserve 2,310,972
Total funds 3,513,977
10 Stock
2024 2023
£ £
Stocks 8,914 9,372
11 Current asset investments
2024 2023
£ £
Unlisted other shares 321 321
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Page 21 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** 12 Tangible fixed assets **----- Start of picture text -----**
Freehold
interest in land
and buildings Fixtures,
and heritage fittings and
assets equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 3,440,990 217,921 8,995 3,667,906
Additions - 15,407 - 15,407
At 31 December 2024 3,440,990 233,328 8,995 3,683,313
Depreciation
At 1 January 2024 251,002 191,850 8,995 451,847
Charge for the year 25,262 9,489 - 34,751
At 31 December 2024 276,264 201,339 8,995 486,598
Net book value
At 31 December 2024 3,164,726 31,989 - 3,196,715
At 31 December 2023 3,189,988 26,071 - 3,216,059
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Page 22 ## **Triratna Buddhist Community Surrey** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** Included within the net book value of land and buildings above is £3,164,726 (2023 - £3,189,988) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of leaseholds. ## **Revaluation** The fair value of the Croydon Centre and Rivendell freehold land and buildings was last revalued in 2005 and 2006. Given the cost, the trustees have not revalued the Rivendell and Croydon Centre properties since 2005 and 2006. The Aryatara property was gifted to the Charity towards the end of 2022, incurring professional costs of £6,000 (which were capitalised). The property's purpose is to allow order members and mitras to live there so that they can engage fully in the community and the Croydon Buddhist Centre. In February of last year (2023) it was established that the property had an open market value of £1,272,000 and this is the basis of the estimation of fair value in these accounts. On 29 October 2023 a firm of chartered surveyors valued the property at £580,000 on a comparable method of valuation, that is, based on similar properties sold for rental purposes only. The trustees believe that the former valuation is a more realistic carrying fair value as the property could be sold on the open market rather than as a block of letting units. The propetry has not been revalued for the year under review. The charity rents land surrounding the Aryatara property at a rate of £20,000 per annum. The landowner is the same person who gifted the property to the charity. The rent will be paid over the lif.time of the landowner. Had this class of asset been measured on a historical cost basis, their carrying amount would have been £849,378 (2023 - £874,640). 13 Cash and cash equivalents **----- Start of picture text -----**
2024 2023
£ £
Cash at bank 306,081 295,987
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