## **TRIRATNA BUDDHIST COMMUNITY (NORWICH) CHARITY NUMBER: 272024 UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
Cadence Business Consultancy Ltd
**Triratna Buddhist Community (Norwich) Unaudited Financial Statements For The Year Ended 31 March 2022**
## **Contents**
|**Contents**||
|---|---|
||**Page**|
|Report of Trustees|1-4|
|Independent Examiner’s Report|5|
|Income / Expenditure Account|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8—10|
|The following pages do not form part of the statutory accounts:||
|Profit and Loss Account|11|
**Triratna Buddhist Community (Norwich) For The Year Ended 31 March 2022**
272
## **Report for Trustees**
**Charity Registration number** 272024 **Bankers** Co-operative Bank **Address** 14 Bank Street Norwich Norfolk NR4 4SE **Independent Examiner** Cadence Business Consultancy Ltd P Grierson (Chair) **Trustees**
The Trustees present their report and financial statements for the year ended 31st March 2022
Page 1
**Triratna Buddhist Community (Norwich) Report of the Trustees**
**Year Ended 31 March 2022**
## **Structure, Governance and Management**
## **Governing Document**
The Triratna Buddhist Community (Norwich) was originally registered as the Friends of the Western Buddhist Order Vajradhatu (Norwich) with the Charity Commission (Registration Number: 272024) on 1[st] August 1976 under the Charities Act 1960as a charity whose purpose is the advancement of the Buddhist religion. The Charity is governed by its constitution.
## **Recruitment and Appointment of Trustees**
The Council of Trustees is appointed at the Annual General Meeting of the Charity. Trustees serve for one year when they become eligible for re-election.
## **Risk Management**
The Trustees meeting are normally held monthly where the review of the risks to which the Charity is exposed is discussed and a risk management plan is drawn up. The day to day running of the centre is delegated to two centre coordinators, who each work part time supported by P Grierson.
Page 2
**Triratna Buddhist Community (Norwich) Report for Trustees For The Year Ended 31 March 2022**
## **Objective and Activities**
The overall objective of the Triratna Buddhist Community (Norwich) is the advancement of the Buddhist Religion. In particular its aims are;
1. To encourage members and others to live in accordance with the teachings of the Buddha.
2. To support ordained members of the Triratna Buddhist Order and other duly ordained Buddhists at the discretion of the Council of the Triratna Buddhist Order.
3. To maintain communication with and work under the guidance of the Triratna Buddhist Order and in co-operation with other groups with the same objectives.
To achieve these aims the Charity operates a Buddhist place of Worship and an open teaching centre at 14 Bank Street, Norwich as well as other undertakings such as external retreats and sales of Buddhist books and other items.
## **Financial Review**
The accounts to the year ending 31[st] March 2022 show a very positive contribution; this has been achieved through the hard work of teachers, the chair and the employed staff.
## **Funding sources**
Work has been undertaken during the financial year to ensure that there are regular donations made to provide the centre with financial security.
## **Reserves**
Funds are split between a non-interest bearing current account and new savings account both accounts are held with the Co-operative bank.
There is a general reserve allocated and tracked throughout the financial year for Great Yarmouth at £11,100 as at 31.03.2022. (£11,100 as at 31.03.21)
Reserves are reviewed by the Trustees on a regular basis at their monthly meetings alongside the financial position of the Charity.
**Triratna Buddhist Community (Norwich) Report of Trustees For The Year Ended 31 March 2022**
## **Statement of Trustees’ Responsibilities**
The Trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and the United Kingdom Accounting Standards
The Law applicable to charities in England and Wales requires the charity to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charity.
In preparing the financial statements the Trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the applicable Charities statement of recommended practices (SORP)
- Make judgement and estimates that are reasonable and prudent
- State whether applicable accounting standards have been followed subject to any material departures that must be disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis.
The Trustees are responsible for keeping proper accounting records which disclose the financial position of the Charity and to comply with the Charities Act 2011 and the applicable Charities Regulations. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detention of fraud or other irregularities.
Approved by the Council of Trustees on____________________________ 2022 10th December
And signed on its behalf by______________________________________
P Grierson (Chair of Trustees)
Page 4
**Triratna Buddhist Community (Norwich) Independent Examiner’s Report to the Trustees For The Year Ended 31 March 2022**
Independent examiner's report to the trustees of Triratna Buddhist Community (Norwich) Below are the financial statements of the Triratna Buddhist Community (Norwich) for the year ended 31st March 2022, which are set out on pages 9 to 16.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts; the charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act") and that an independent examination is needed,
In the independent examination
- ~ examine the accounts under section 145 of the Charities Act,
- ~ follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) (b) of the Charities Act, and
- ~ to state whether particular matters have come to my attention
Basis of Independent Examiner's Statement
The examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## Independent Examiner's Statement
In connection with the examination, no matter has come to my attention: which gives reasonable cause to believe that the accounts are in anyway inaccurate and in accordance with;
1. Keep accounting records in accordance with section 130 of the Charities act; and
2. Prepare accounts in accordance with the accounting records and comply with the accounting requirements of the Charities Act
3. Or to highlight any item which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed _______________Paul Vincent_________ Date _______22/11/22___________
Paul Vincent. Cadence Business Consultancy Ltd.
Page 5
**Triratna Buddhist Community (Norwich)**
## **Income / Expenditure Account**
## **For The Year Ended 31 March 2022**
|**Notes**
**Incoming Resources**
Cost of generating funds
**GROSS MARGIN**
Administrative expenses
**NET INCOME / (EXPENDITURE) FOR THE FINANCIAL YEAR**
The notes on pages 8 to 10 form part of these financial statements.|**2021**
**£**
**51,504**
( 629 )
**50,876**
(31,998 )
**18,877**|**2022**
**£**
**52,774**
(1,049 )|
|---|---|---|
|||**51,725**
(44,622 )|
|||**7,103**|
||||
Page 6
## **Triratna Buddhist Community (Norwich) Balance Sheet As at 31 March 2022**
|**Notes**
**FIXED ASSETS**
Tangible Assets
**3**
**CURRENT ASSETS**
Stocks
**4**
Debtors
**5**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**6**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**CAPITAL AND RESERVES**
Fund balances as at 31stMarch 2022|**2021**
**£**
**£**
280,161
**280,161**
3,488
3,910
64,580
**71,978**
**( 366 )**
**71,612**
**351,773**
**351,773**
351,773
**351,773**|**2021**
**£**
**£**
280,161
**280,161**
3,488
3,910
64,580
**71,978**
**( 366 )**
**71,612**
**351,773**
**351,773**
351,773
**351,773**|**2022**
**£**
**£**
283,549
**283,549**
2,758
2,846
69,782
**75,386**
**( 59)**
**75,327**
**358,876**
**358,876**
358,876
**358,876**|**2022**
**£**
**£**
283,549
**283,549**
2,758
2,846
69,782
**75,386**
**( 59)**
**75,327**
**358,876**
**358,876**
358,876
**358,876**|
|---|---|---|---|---|
|||**280,161**
**71,612**||**283,549**
**75,327**|
||**71,978**
**( 366 )**||**75,386**
**( 59)**||
||||||
|||**351,773**||**358,876**|
|||**351,773**||**358,876**|
|||351,773||358,876|
|||**351,773**||**358,876**|
Page 7
**Triratna Buddhist Community (Norwich) Notes to the Financial Statements For The Year Ended 31 March 2022**
## **1. Accounting Policies**
These financial statements have been prepared under the historical cost convention with terms recognised at cost or transactional value unless otherwise stated in the relevant notes to these accounts.
These accounts have been prepared in accordance with the statement of recommended practice; Accounting and Reporting by Charities preparing their accounts in accordance with the Financial standards applicable in the UK (FRS102) and with the Charities Act 2011.
The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to give a ‘true and fair’ view.
## **1.1. Tangible Fixed Assets and Depreciation**
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
|Land and Building|- Nil|
|---|---|
|IT Equipment|- 25% reducing balance|
|Fixtures and Fittings|- 10% reducing balance|
|Audio Visual Library items|- 10% reducing balance|
|Website|- 33% Straight line.|
|Reference library|- Nil|
|Devotional Objects|- Nil|
## **2. Stock**
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Page 8
**Triratna Buddhist Community (Norwich) Notes to the Financial Statements (continued) For The Year Ended 31 March 2022**
## **3. Tangible Assets**
|**Cost**
As at 1 April
2021
Additions
As at 31
March 2022
**Depreciation**
As at 1 April
2021
Provided
during the
period
As at 31
March 2022
**Net Book**
**Value**
As at 31
March 2022
As at 1 April
2021|**Land &**
**Property**
**Freehold**
**Devotional**
**Objects**
**Library**
**Fixtures**
**&**
**Fittings**
**Computer**
**Equipment**
**Intangible**
**Assets**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
268,500
3,405
2,183
6,217
1,068
475
281,848
-
-
-
1,388
108
4,275
5,771|
|---|---|
||268,500
3,405
2,183
7,605
1,176
4,750
287,619|
||-
-
-
1,219
469
-
1,688
-
-
-
638
176
1,568
2,382|
||-
-
-
1,857
645
1,568
4,070|
|||
||268,500
3,405
2,183
5,748
531
3,182
283,549|
|||
||268,500
3,405
2,183
4,998
599
475
280,161|
## **4. Stocks**
Stock
|**2021**
**£**
3,488
3,488|**2022**
**£**
2,758|
|---|---|
||2,758|
Page 8
**Triratna Buddhist Community (Norwich) Notes to the Financial Statements (continued) For The Year Ended 31 March 2022**
## **5. Debtors**
|**Due within one year**
Trade debtors / Gift aid
Prepayments and accrued income
**6.** **Creditors: Amounts Falling Due Within One Year**
Trade creditors
Pension control a/c
Accruals and deferred income|**2021**
**£**
3,817
92
**3,910**
**2021**
**£**
-
66
300
**366**|**2022**
**£**
2,760
86|
|---|---|---|
|||**2,846**|
|||**2022**
**£**
-
59
-|
|||**55**|
## **6. Creditors: Amounts Falling Due Within One Year**
Page 10
**Triratna Buddhist Community (Norwich) Income / Expenditure Account For The Year Ended 31 March 2022**
|
**£**
**TURNOVER**
Meditation and Buddhism by Payment
Meditation and Buddhism by Donation
Yoga Income
Other Income / Gift aid
By payment / schools & other visits
Bookshop and Gift shop sales
Dana donations
Great Yarmouth Income
**COST OF GENERATING FUNDS**
Opening stock - finished goods
4,117
Bookshop and Gift shop purchases
-
Closing stock - finished goods
(3,488)
**GROSS MARGIN**
**Administrative Expenses**
Wages and salaries
18,669
Employers pensions - defined contributions
scheme
451
Reimbursement to Yoga Teachers
(34)
Training costs for the team
10
Dana to other centres / councils discretion
3,210
Event Expenses
762
Great Yarmouth - Event expenses / admin
expenses
95
Great Yarmouth training costs
-
Travel expenses
-
Centre running costs
Telephone and Internet
1,148
-
Utilities and Online booking costs
1,930
Premises insurance
1,114
Advertising and marketing costs
-
Accountancy fees
2,767
1,122
Credit card charges
Repairs and Maintenance
Printing and stationery
-
-|**2021**
**£**
**£**
21,957
5,990
(605)
3,634
75
1,162
19,292
-
**51,505**
3,488
319
(2,758)
**(629)**
**50,876**
20,888
306
-
3,967
4,426
1,491
-
-
-
784
756
1,224
1,043
-
2,509
1,328
2,552
3|**2022**
**£**
21,693
5,781
1,695
2,026
-
1,956
19,623
-|
|---|---|---|
|||**52,774**|
|||**(1,049)**|
|||**51,725**|
||||
Depreciation 755 2,383 Total Overheads **(31,999) (44,622) NET INCOME / (EXPENDITURE) FOR THE 18,877 FINANCIAL YEAR 7,103**