Registered Charity No. 271591 TRIRATNA BUDDHIST COMMUNITY (WEST LONDON) ANNUAL REPORT AND FINANCIAL STATEMENTS 31st DECEMBER 2024
Triratna Buddhist Communty (West London) For the year ended 31 De¢ember 2024 CONTENTS Page Reference and Adminislrative details Trustees RepcAt IndepÈndenl Examiner's Report Statement of Financ[ Activities Balance Sheet Notes to the Financ1 Statemgnts 10-16
Triralna Buddhist Cornmunity Iwest London) Trustees Report for the year ended 31 December 2024 Referencè and Admi ive Detsil Name of Chanty: Triratra Buddhist Communty Iwest London) previoUY knov4n as., Frths of Westem Buddhist Order (West London) West London Buddhist Centre Othèr Names: Registered Charity No: 271591 Trustees: Civil Name Order Name Office held Date of Appointment 31 July 2013 12 September 2020 16 September ?019 3 Apnl 2023 Date of Resisnation 8Au .ust 2024 Wendy Young_ Carol-Anne Bois B(x4hilila Mailripushpa Chair Sean Quigley Raknadeva Mitra Convenor 15 April 2024 Roger ArKlrew Brulon tiaisy-may Jones Matthew JanEs Safeguarding 9 December 2024 g December 2024 Trustee 19 September 2022 2 Oclober 2024 Amalavajra Chair Dr Dayanalha Showman Viryanaga Trustee 2 October 2024 Showwnan Dr Viryanaga Kitsune patr18 LeAt Matthew Grenz 19 August 2025 TaSUr 2 October 2024 Amlanadhi Martrikumara Truxtee Mitra convp.nor 19Au ust 2025 19 Au9USt 2025 Civil Name Order Name Office held Date of ApLoinknenl 2 October 2024 Date of Resisnation Matthew James Webb Carol-Anne Bois Amalavajra Chainnan Maitripushpa 12 September 2020 1 December 2024 Andrew Fuller Finance Directr Registered Address: Royal Oak House. 45a Porthesler Road, London W2 5DP Web Address: www.westlondonbuddhistcentre.com Bankers: The cOpera"Ve Bank - Business Business Customer Serwces PO Box 4931 Swindon SN4 4PL Independent Examiner. Annemie Philips 9, Linden Rd, Hampton. TW12 2JG
Triratna Buddhist Communty est London) Truslees Report for the year ended 31 December 2024 Objectrves arKI Activitses The purposè of the Triratna Buddhist Communlty (West London) is to". Encourage and provide facilities for the practice and teachirvj of Buddhism. meditation, yoga. and olher bodywork. Offer retreats, school visits, and tea¢h ndItatiOn in Iwl tt)Ileges aThJ other inslrtutK)ns. Provide financi?1 and other forms of supwrt lo rTheMrs of the Triralna Buddhist Order and other duly ordained Buddhists. Offer facilities for healing therapies. Maintain a bookshop and library. In line these objectives, the charity aimed to deliver an extensive prramme of Buddhist activities in July 2024. though this was severely disrupted by a flooyj caused by a burst water main in the street. There was no water supply for monlhs an4J centre activities (though not room hirel ased for that period. ReslilutKJn of the main shrine will complete(l in September 2025 bul until Ihen rrK)st evenls are takn.ng place place in our yoga studio. The other big blow to the WLBC sangha I communty in 2024 was lh8 loss of our Chair, 8odhilila, lo serious illness in May, and Ihe deaths of bmo Other senM)r teachers soorb after. This was in addf(ion to the planned departure of Rnadeva, our Mitra Convenor in April. Fortunately, Bodhilila appointed an able seniiy leadership team in her pl. from whom Amalavajra was appointed Chair in October when it became dear that BodhiliLg would not be able to retum to work any time soon. ActNilies in 2024 included weekly medttation dasses. coursets on Buddhisfft. arid Buddhist retreats. In addition to these Buddhist actiwties, a complementary programme of secular'Breathworks' mindfulness courses. bofvrk, and y(oa evenls was offered. These were either led by Buddhist teachers wtthin Ihe Centre cf facilitated through extemal instructors. The centre also provides finanaal support lo membws of the Trirydtna Buddhi Order by employing some of them in adm5nistrab.ve roles. whh a essential for managing and supporting the ab)ve evenls. Structure. Governance and Management The Charity was registered as an unincorporated asso¢iatr"on wrth the Charity Commission on 9 July 1976. The purposes of the tharrty are as folk)ws: The advancemènt of the Buddhtst religion- in particular 1) to encourage membe¢B and othets to live in accordance wth the teachings of the buddha., 21 to support ordained members of the western Buddhisl order and other duly ordained Buddhists, at the discretK)n of Ihe council of the FWBO., 31 to maintain close communicatson with Ènd work under tre guidance of the Weslem Buddhist order and in cmperation th olher groups wth the same objects. Tmstee Recruitment 8ftdAppntrnenl Trustees are recnjiled from within the Triralna spiritual communty which the charity sèrves. Prospeth"ve trustees musl be actively practising Buddhists who are eilher ordained into Ihe Triratnè Buddhist Order or in training for ordinats'on into the Triratna Buddhist Order. Wherever possible, the Board of Tnjstees {'The Council,) should compfise a majority or ordained members. Truees may be appointed either at the Annual General Meeting {AGM} by a majority vote of the mernbers, or altemativety. The Council may appoint new members during the year by consensus decision. vA)o may then be lomllY rlected al Ihe AGM following the Tr)rmal procedure.
Triratna Buddhist Communty (West London) Trustees Report for the year ended 311)e¢ember 2024 Public Benefft The Trustees have. throughout the year. paid due regard to the Charity CoMmison'$ guidance on Public Benefit. The Triratna Buddhist Community Iwest l.ondon} is a no-PrOfit organisalion dedicaled lo promotiryJ spiritual growth. peace, compassion, and mindfulness through 13uddhist teachings. We offer accessible resources for personal growth. emotic)nal healing. and rmUnIty well-beiro. Our key objectives indude.. Promoting Inner Peace.. ProvKling meditation workshops and teachings to CU1vate mindfulness, compassion and spiritual growth. Supporting Mental Health.. Offerirvj pr(yJrams to re¢Juce stress. anxiety, and suffering through mindfulness-based prath'ces. Encouraging Social Responsibility.. Foslering communty seNice. ethul behaviour. and interwnnecledness through volunteer initiatives. Educating for Harniony.. Providing edUtional rescurces and treats to promote understanding and tolerance aczoss diverse )MmUnitIes. Our work is rooted in the belief that true well-being arises from cult'vating both personal $doM and compassion all living beings. Every project and inrtiatsve we undertake is driven by the desire to reduce suffèring. inCaSe happiness, and contribute to the common good. In alignment wrth the c(Ye values of Buddhism- thmp3ssion, r)on-harming, and wsdom - Ihe Triratna Buijdhist Cofflmunty (West London) remains commitied to serving the public gcl without dis[}natIon, priontisin9 inclusivity and kindness in all of our aclivit&. Achievements and Perfom)an¢e nce the root of all of the [woHdslproblems is the greed and hÈlred lodged deep in the human heart. The only lOng-ten solLrtion is eAugh men and women around Ihc world committing lo gro1 in wisdom and compas&on. ano helping others to do the same.. Saiigharakshits In the spirit of these words from Sangharakshita, the founder of our movpment, the West London uddhist Cenlre offers the Buddha's teaching to the general public to support the deepening of their wisdom and compassion. Alongside this. the centre has continued to offer secular mindfulness and rnplimentary work ath"vib"es lo the generdl putr4ic. to support their spiritual, mentsi and physical welfare. in pursuit of these higher ideals. In a normal week, many people, tK)th newcomers and p.xperienced Buddhist practitioners attend the rentre as a context for their spiritual practice. However. despite many events this year being quite well attended. attendance ai the Buddhist Centre has remained significantly lower than pricr lo the pandemi¢ and ir) recent years. This has also had consequences for the finanual circumstsnces of the cenlre. Fortunately, in 2023 Bodhilila recruited Andy Psyllides to develop the programme of complementsry activrties and subsequent room hire inrA)me. By 2024 this was realty beanng fruit and Amalavajra. the new Chair. has continued to support this development. Subdadassi has continued as PresKJent of the Centre. He is an extemal senwx Order Member who Vistts tsice a year to teach and to provide suprmyt of the spiritual welfare of the community. Plans for Future Periods On the 19th June 2024, the senr leadership team that Bodhilila appointed to run the WLBC in her absenrE. met to develop a Strateg plan. Here is the summary of their Sunrive and ThrikE plan:
Triratna Buddhist Communty (West London) Trustees Report for the year ended 31 December 2024 Our vision To create a Ihrtving communty of friends building a Buddha Land together. Vve work in teams. animated by the Bojhisattva ideal. to offer an inspiring, graduated path of Triratna training towards Enlightenment. We're led by the ft)ur samgaravastus.. genero&ty. kindly speech, benefiaal activity an impartiality Strateglc priorities fr>r 2025 7. Rwmus Finan&al Managgment Regular. tsllored reports. include monthly l&1. and event income reports Create risk register and remove v(Aunteer access to info@ Dana )wI training and payment terminals Simpler. more automated fi'nancial managemenl systems 2. Create 8 cullure of kalyana mitsta. espeu811y through teams Dharma Activity Kuta IDAKI lo meet monthly and indude Mitra Convenor spOnSIbl14.es Amlanadhi to develop Community Praclice days Mattripushpa and Amalavajra lo invite rmre Oms and newcomers onto Sat and Tues teams Amlanadhi to find a volunteer bookshop manager AmalavaJra to recruit a fundratsing manager to cc()rdinate a volunteer fundrain9 team ArKly to develop a receptron team for most days 3. Promote key events Ihat offer a deartraining pathway Ensure every class teacher knows which next step event to promote as a wiorty Ensure that we are offering events at all four key stsges of the pathvlay: {'ConsuThr' stages) 3.1 Galeway. Sat and Tues meditation led dasses. Breathworks stress courses and 4-5 Trackless expedrtions 3.2 Discovering the Dhama.. Monday njht courses (Part[pantIbenefact0r stsges) 3.3 Taste of TranSndental. retreats. teams 3.4 Comnritment. pre- and Mitra study groups and Going Fc¢ Refuge events at WLBC aTrJ 4. Clarrfy and strenglhen organisational structures and respon&bilities Job DescriptwJns and Person sClc¥tionS for all key roles. including some voiunteer responsibilwes leach manager responsible for their role and Iheir rewrtsl Maintain WLBC organisational chart Finan¢•al Review the preparab.on of the 2024 acunts, a discrepancy of £3.644 was identrfied belween the tharity's totsl funds as stated in the published accounts for 2023 and the opening balan rethed in the chaiity's financial records. Thts discrepancy primarity relates lo a dIffereTr in the reported cash al bank." the published accounts showed £65,449, whereas the financial records Show £69,349. As a result, a Prior Year Adjustment of £3.644 has been induded in the Ststernent of Financral Actiw"ties ISOFA). and the
Triratna Buddhist Communty {West London) Trustees Report for the year ended 31 Derntser 2024 balance sheet as at 31 0ee£mber 2023. has been restated. Futlher details are provided ir) Note 9 on page 13. FInanaIPerfOrm8nce The charity reported a surplus from operations of £2.816 for ihe year. a significant turnaround from the prÈvKbus yearfs deficil of £28.957. This improvernent was driven by increases in Ly)th (Jonaled income and income generated through the letting Of surpltjs space. While costs also increased. they were not sufticient to offset the gains in in(x)me, resulting in a positNe outcome for the year. There was no ReStrted Income received during the year. July 2024 Flooding Inodent Unfortunately. in earfy July 2024, a water main burst outside the Centre. flooding the basement- home to the chanty's two main shrine rooms- with contaminated water. The Centre was forced to dose entirely until late August and then reoFened partially. wf(h only Ihe ground floor accessible for dasses and rc¥)m hire. This incident had a devastating impact on the charrty's posl-covid recovery plans. However. it also galvanised the twslees and Ihe Centre team to intensrfy fundraising efforts and mwmise income through room hire and a limrted schedule of dasses. Both initiatives proved highly successful. Incon Breakdown Donatiorts increased by £28,542 to £77,85412023.' £49,312). Class and course income declined by £10.618 to £35.815 {2023.' £46,433). Room hire and practitioner Inrne rose signrficantly by £21.635 to £38.6n {2023'. £17,042) In response to the floodlng. the Centre submitted insurance claims for both damaged assets and105S of income. Loss of InMe from 10 July to 31 December 2024 was esb"fflated at £39.245. As the Imcome of our daim remains UnrtaIn, no acttual has been induded in the accounts. Overall, total income increased by £50,906 to £165,058 {2023'. £114.1521. ExKEnditure Total expendtture for the year rose by £19.133 to £162.24212023.' £143.1091, driven mainly by= Higher building and maintenance costs. Increased administration and support (x)sts for the Centre's operalions. Notably. external consultancy fees rose by £7.490 to £8,55612023'. £1.0661. clng Position At year-end. the charity's total funds increased by the oper<?ting surplus of £2,816, from £1,799,153 to £1.801,969. Of ihis. approximately 95°A is represented by the value of the leasehold premises occupied by the charity. The charty continues to h(Jd Su1"en1 funds to meet its reseNes policy. ReseeS Policy Our rÈserves policy is to retsin a minimum of 3 rrKinths expenditure in general funds in the event of insotvency or unfeseen cirojmslances.
Triratna Buddhist Community (West London) Trustees Report for the year ermded 31 December 2024 Using the bud9et fcy 2025 this equates to £43,600. Risk Management The Charity operates a risk management frameworf( designed to identfy, assess, and manage potential risks that may affect the fvifilment of its Gharitable objectives and the safeguarding of its assets. Key risks, induding financaal. operational, governance. and reputational risks. are regularfy reviewed by the Trustees. Mitigation measures are implemented to minimise L4)th the likelihood and potential impact of these risks. The Trustees are committed to ensuring compliaftce wrth legal and regulatory requirements. maintsining Sound intemal controls, and upholding public trust in Ihe Charity's work. Connected Charities The Charity is part of a global community of organisab.ons connected WTth the Triralna Buddhist Order and Communty- While each organisalion is legally in¢Jependent. we work tJether in a spirit Df friendship and cc()peration to advance the undeTslandirKJ and pfactice of the Buddhist path. Trustoes, Responsibllities in Relation to the Financial Statements The charity twstees are rewnsiL4e for preparin9 a tNsteès' annual pt finan ststsnEnls in accordance wsth applicable law and United Kingdom Accounting Slandarils (United Kinyjom Generally Actspted Acc£MJnbng Practice}. The law applicable to charilies in England and Wales requires the charty trustees io prepare financial statements for eath year which give a Inje and fair view of the state of affairs of ihe charity and of the inming resour and applicath)n of resour. of the ehartty for thal period. In preparing Ihe financial statements. the trustees are quired to.. select SUFtable asx¢)unting Fdicies and then apply them COngeTh. obrVe the methods a1 prinoples in the applicable Chartbes SORP IFRS102}- Second Edibon; make judgements and estimates that are reasonable and prudp.nt: stste whether applicable awunting standa$ have Ixen followed, subjeci to any material departures that rnu be disclosed and explained in the financial statements.. prepare the financial statements on the going cor)cem basis unless rt i% inapkYoate lo pSuMe that the charity wrll cnntinue in bUne$S. The trustees are responsible for keeping WOFer accountlng recorts that disdose wlh reasonable acoJr4cy at any time the financial posititin of the charity and to eae Ihern lo ensure that the financial staternents comply th the Charities Act 2011. the Chanties (Acwunts and Reports) Regulat$ 2008. and the pruvi5ions of the Trust Deed. TW are also responsible for safeguarding the assets of the charity and taiong rea£4)nat4e steps for the prevenb.on arby detectKJn of fraud and otsr irregularitEs. The trustees are reswnsible for the maintenance and integrity of the ttnty and financi infom)alic induded on the Chanty commion'S website in acCan with legIall0n in the United Kingdom goveming the weparafjon and dissemination of the finanoal statements. Approv&J by Ihe trustees on and &gned on their beha Chair
Triratna Buddhist Community (West London) Independent Examinerfs Report to thè Trustees of Triratna Buddhist Community (West London) For the year ended 31 December 2024 I report to the charity trvslees on my examinatfon of the a(ountS of the charity for the year ended 31 March 2024 which are set oul on pages 8 to 19. Responsibilrties and basis of report As #)e charity's trustees you are responsible for the preparation of the accounts in accordatKe with the requirements of the Charities Act 2011 I'the Acf). I report in respect of my examination of the charity s accounts carried out under section 145 of the Act and in carrying out my examinab'on I have followed all the applicable Directions given by the Charity Commission under section 145{5Xb) of the Act. Independent @MinerS statement I have compleled my examination. I confirrn that no material matters have come to my atlenlion in connection with the examination 9Ning me c2use to believe thal in any material respect.. acwunting records were not kepl in respert of the charity as required by section 130 of the Act: or the accounts do nol acc£Kd with Ih)se reojrds.. or the acwunls do not compty with the applicable requirements e£)ncerning the form and content of accounts set oul in the Chartties (Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no ts)nceTns and have come acmss no other matters in c4)nneclion with the examination to which attentiOTb should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Name: AnnemiÈ Philips FCCA131998551 Address: 9, nden Road. Hamptor), IW12 2JG Date.. 0910912025
Triratna Bvddhtst Communty (West London) ststement of Financtsl Actlvltles For the year Ènded 31st De¢ember 2024 UnTestricted Funds 2024 Total 2024 Total 2023 Note InmIng Resources Frixn Donations and Legacies Charitable Activites Other Trading ActNibes Other T7.854 35.815 38,677 12.712 49,312 46,433 17.042 337 35,815 38,617 12,712 Total Incoming ReSoUS 165,058 165,058 114,152 Resources Expended On Raising funds Charitable activities 27,938 134,304 27,938 134,304 25,972 117,137 162,242 162,242 143,109 Nel incoming resources for the year 2.816 2.816 128.957} Other Recognised Gainsl{Losses) Gainsl{Losses) on revalu*ion of fixed assets Net Movement in Funds 2.816 2.816 128,957) Reconciliation of Funds Fund balanS brought forward 1.799.153 1,799.153 1.824.466 Prior Year Adjustment Fund Balan¢es Carried Forward 1.801.969 1.801.969 1.799.153 The notes C pages 10- 19 form part of these financial statements.
Triratna Buddhisl Community Iwest London) Balance Sheet as at 31st Oe¢ember 2024 Note 2024 2023 Re•Statsd Fixed Assets Tangle assets.. Propety Art & Rrtual Objects FtreS & Fittings 12 1,719.514 3.230 1.721.238 3.780 1.105 1.722.744 Current Assets 1.726.123 Debto Cash al bank and in hand Bookshop stock 13 20,357 59.666 2.801 265 69.349 3.612 15 82.824 73.226 Liabilities, amounts falling due within one year 14 {3.5991 1196) Net Current Assets 79.225 73.030 Nel Assets 1.801.969 1.799,153 Funds Unrestricted ftjnds Surplus1(Def1) forthe year 1.799.153 2,816 1.824,466 {25,313) Totsl Charity Funds 1.801.969 1,799,153 The financial statements were approved by Ihe Tnjstees on...... NAME Chair The notes on pages 10- 19 fomi part of these financial statements.
Triratna Buddhist Commvnlty (West LoTKlon) Notes to the Financial Statements For the year ended 31 L)e¢ember 2024 Accounting Policies Charity Status The charity is governed by a Trust Deed completed on 29 April 1976. ano amended on 26 January 1979. 05 May 1982. 16 October 1987. 16 January 2000. 22 May 2010 and on 15 January 2013. The charity was registered th Ihe Charity Commission on 9 Juty 1976, istered number 271591. The address of the gIStered office is given in the RefereneÈ and AdministstNe Details given on page 1 of these finanual statements. The charty constitutes a puljic trenefit as deffined by FRS102. of Preparation The finanoal StateThnts have been prepared in accordance with Accc¥Jnting and RewJrknng by CharitTres.- Slatement of Recommended PractieÈ applicable to charities preparing their accounts in ac£ordall with the Financial Rewrting Standard applicable in ihe UK and Republic of Iroland (FRS102) Second Editn. the Financial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland IFRS102). the Charrties Act 2011. Section 1A. The finala1 statements are prepared on a going contsrn basis under the historical cost convention modifie(J lo indude certain ttems al fair value. The financial slatements a prepared in slerting which is the fvnctiODal cUency, and have been rounded lo the nearest pound. Inme Recognition All incomiry resources are induded in the Stalemenl of Financi81 ActNitses (SOFA) when the charity is legalty entitied to the income. the amount can be reliably measured and il is probable that the income will be reived. Donations and other forms of voluntary income are rec(¥nised when receivable by the charity. Income receivable from classes, courses and events. 15 recognised when the event has laken place. or there is no recouT5e of the amount paid, amounts rec*ived in a(fvance are included within deferred income. Gift aid is rett)9nised in the period the donalion it relales to was received. Expenditure Recognition All expenditure is accounted for on an acciu81s basis and is inclustve of irrecoverable VAT. Expenditure is recognrsed where there is a legal or construth've obligalion to make payments to third parties. it is probable that the settlement will be required the obligaticrf) can be mÈasured reliably. Expenditure on charitable activilies includes relèvant supr(rt costs and govemance D)sts. Other expendtture indudes all expenditure thal is neither relaled to raising fijnds for the charty nor part of its expenditure on charitsble aclivitses. Allocation of Support Costs Support Ixjsts are those functi¢)ns that ass1 the work of the charty, but do not diredy undertake charitable activit$. Support costs incjude salaries and administrative exs%nses. These costs have been allocated between cost of raising funds and charrtable actlvities. The bases on which support costs have been allocated are set out in note 8. 10
Triratna Buddhist Community (West London) Notes to the Flnan¢ial Statements For the year ended 31 December 2024 Oèbtors Debtors are recorded at settlement amount due after any trarJe discounts. Cash at Bank and in Hand Cash at bank and in hand. includes balances held th banks as well as funds maintained in other payment systems (such as digital wallets and online payTrEnt platforms) that are allY available for use in the Charty's operations. Credito CredÈtors are COgnised when the charity has a present obligab.on resulting from past events and can be measured or e*imated reliably. Creditors are reccgnised at their settlement amcunts. Funds Unrestri(Xed reserves are funds that can be used in accordance with the charrlable objects at the discretton of the Trustees. Designated reserves comprise of unrestricted reserves whith have been set aside at the discretion of the twstees. to be held as investments. The income derived is used to wver the charity's administrative costs and the balan for charitable purposes. Restricted funds are funds that can onty be used for partioJlar restricted purposes wrthin ihe objects of the thanty. Restrictions arige when specified by the donor or when funds are raised for particular restricted purposes. Judgements and Kèy SoUe$ of Estlmatlon Uncertainty In Ihe application of the tharitable company's accounting pICS. the Truslees are required tr) make judgements, estimates and assutnptions about the carrying amunt of assets and liabilits.es that are not readily apparent from other SOUTs. The estimates and associated assumptions are based on historical expenence and other factors that are considered to be relevant. Actual results may drffer from these estimates. The estimates and underfyir)g assumptions are reviewed on an ongoing basis. Revisions to afjcounting estimates are reccMJnised in tre period which the estimate is revised where the revision affects only that period, or in the period of the revision and fLrture peruls where Ihe revision affecls both ojrrent and future pencmjs. There are no estimales to note that affect these accounts. Tangible Fixed Ass•ts & Depre¢iation Expendtture on individual assets costing more than £500 an(J wlh an expected useful life greater than one year will be capitalised_ Items below this threshold will be expensed in the year of wrthase. Fixed assets are recx)rded at cosl. induding direcly attribijtsble costs necessary to bring the asset into working tondthon. Depreciation is charged on a straight-line basis over the eslimated useful INes of assets. refleth.ng the consumption of economic benefits on the following bases: Leasehold Improvements: Over the lease lem Fixlures & Fittings. 5 years rr & Computer Equipment.. 3 years 11
Triratna Buddhist Community (West London) Nt)tes to the Flnan¢ial Ststernents For the year ended 31 December 2024 The gain or loss arigng on Ihe disposal of an asset is determined os the difference betsveen the sale proceeds anij the carrying walue of the a55eL and is recognised in net incomellexpenditure) for the year. Donations and Legacies Unrestricted Funds 2024 Total 2024 Totsl 2023 Donalions Tl,854 77,854 49,312 Charitable Aclivities Unrestricted Funds 2024 Totsl 2024 Totsl 2023 Bookshop Classes, Courses. Events Retreats 529 21.923 13.363 529 21.923 13,363 1,405 24.206 20.822 35,815 35.815 46,433 Othef trading activities Unrestrlcted Funds 2024 Totsl 2024 Total 2023 Rcrt)m Hire income 38.677 38,677 17.042 38.677 38.677 17.042 Other Incomè Unrestricted Funds 2024 Total 2024 Totsl 2023 Bank Interest In9Jran daim 2.130 10.582 2.130 lo,2 1.027 12.712 12,712 1,027 In early July 2024. the Centre suffer&J a devasting flocé caused by a burst waler main in the slreet outside the Centre. Claims were submitted to the chartty's insurers for loss of contents and earnings. The loss of contents claim has been setued. whilst the Ic>ss of earnings claim remains oulstanding. s the wtcome remains urKertain. no provision has been induded in the accounts. 12
Triratna Buddhist Communty (West Londonl Notes to the FinancEal Statements For the yèar ended 31 December 2024 Raising Funds Unrestricted Funds 2024 Total 2024 Total 2023 Support costs {Note 8) 27.938 27,938 25.972 27.938 27.938 25.972 In 2023 there were no re*rfcted fiJNlraising cx)sts. Charitable Activities Unrestricted Funds 2024 Totsl 2024 Total 2023 Bookshop Classes, Courses, Events Retreats Support costs (Note 8) 871 5,836 9.707 117.890 871 5,836 9.707 117.890 275 5.040 14.480 97,342 134,304 134.304 117,137 Support Costs 2024 Ralslng Charitsble Funds Activities Totsl Team support Building costs Administralion Publicity Deprecith"on Donations Finance tharges GovemanTr costs Fundraising o)sts 17,704 6,059 3,601 56,132 29,621 14,402 73.838 35,680 18,003 5,492 3.379 5,347 2,267 1,783 41 574 2,805 5,347 2,267 1,783 41 27.938 117,890 145.828 Basis of Aloc tion Team Support: Administratton.. Building costs,. Depreciation= Time spent by eath supported person. Costs allocated on basis of Spa 0pIed an¢J usage. Publiaty; t)onalions; Finance Charges; c4)VeMan & Fundraisiry: Costs are all solety charitsble ath"vittes. Support Costs 2023 Raising Charitable Funds Activities Total Team support Building o)sts Administration Publicty Depre03tft 16.932 5.827 2.873 53,683 24.546 11.494 1.403 1.660 70.615 30.373 14.367 1.403 2,000 340 13
Triratna Buddhist Community (West London) Notes to thé Finandal Ststements For the year ended 31 December 2024 Donatiofts Finance charges Governan costs Fundraising costs 1.174 3,382 1.174 3.382 25.972 97.342 123.314 Basis of Allocati osts Team Support. Administration.. Building costs; Deprea3tion: Time spent by each supported person. Costs allocated on basis of space occupied and usage. Publicity.. t)onations', Finance Charges- Governan & Fundraising.. Costs are 811 solely charitable activitS_ Prior Year Adjustment (PYA} In PTeparing the 2024 accounts, It was nOtd that there ¥Yas a dtscrepancy of £3,644 beffeen the charity's total funds as per the published accounts. and the opening funds in the charty's financial records. The distrepancy is largely accounted for by a dtffefence in the cash held at bank on the published accounls1£65.4491 and the cash shown in the charity's financial records {£69.349). Aclual Cash as at 31 December 2023 £69.349 Cash as per published accounts 31 Dernber 2023 £165,449) Difference £3.900 Other adjustmènts £1256) £3,fi44 A PYA appears on Ihe SOFA. and the Balance sheet has been revstaled for 2023. 10. Remuneration 2024 2023 Salaries Employer's NIC Pension contributions Retreats 57.318 6.371 5.339 4.808 54,124 9,949 4,008 2,534 73.836 70,615 Numb Number Average number of employees 2.75 2.25 No employees eam over £60.000 (2023.. £Nill No emoluments are paid to any of the tnJstees12023: £Nill. No expenses have been paid to the trustees (2023.. £Nil). 14
Triratna Buddhist Community Iwest London) Notes to the Finan¢ial Statements For Ihe year ended 31 December 2024 11. Remuneration Pald to Council Members Remuneration was paid to the folk)wing Council Members during the year.. Gross Pa Bodhilila Ratrtadeva Amalavaira Total 2024 £16.875 2023 £36,224 (Wendy. YounL . (Sean QuislpyJ_ Lmatthew Webb £5,841 £60,155 The Charity's constitution allows for financial support to be given lo members of the Council who are members of Ihe Trirdtna Buddhist Community. DUriJ the year, 3 members of ihe Cojncil {2023'. 2) reiVed £29.04212023: £60.1551 In pursuit of ts Objects, the tharty also paid for treats for Counul members during Ihe year. 11 Tangible Fixed Assets Freehold land and buildings Leasehold land and buildings Art and Ritual Obje¢ts Fixtures. Fittings and Equipment Totsl Cost or Valualion At beginning of Ihe ear- 1 Janua Add¥tions Disposals Revaluations Transfp.rs At end of the Year Depreciation & Im At beginning of the p.ar- 1 Janua 2024 Disposals Dppreciation Impairment Transfers At end oithe year Net book value at beginnin of the ear Nèt book value at the end of the ear 1.736.753 3,'180 43,1&3 1,783.716 3.780 43,183 irments 1.783 716 15.515 42,078 57.593 1,724 550 1,105 17,239 1.721,238 550 3.780 43,183 1,726,123 1,719,514 3.230 In July 2024, the Centre was florxled duè to a burst water main in the street. Various itetns were damaged beyond repair. A daim has been submitted to the charity's insurers, Ecdesiastical. 15
Triratna Buddhist Communty (West Lorthnl Notes to thÈ Financlal Statements For the year ended 31 December 2024 13. Debtors & Prepayments 2024 2023 Insurance Claim Grft Aid tax claim Room Hire Other 10.582 7.519 1.923 333 265 20,357 265 14. cditors. amounts falling dtse within one year 2024 2023 Taxation and social security NEST Pension provider Accruals Deferred income 1,718 235 1.126 520 196 3.599 196 Defwed Income refer5 lo payments for a Breathworks c(xJtse taking pla In January 2025. 15. Bookshop Stock 2024 For sale 3,612 59 1870} 2023 For sale 3,887 Opening value Added in period Expensed in period Impaired Closing (275) 2,801 3.612 16