2025-03-31-accounts

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TRIRATNA BUDDHIST COMMUNITY (NORWICH) HMRC CHARITY NUMBER: 272024 CHARITIES COMMISSION NUMBER: XN65079 UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Cadence Business Consultancy Ltd

Triratna Buddhist Community (Norwich) Unaudited Financial Statements For The Year Ended 31 March 2025

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 - 12

Triratna Buddhist Community (Norwich) For The Year Ended 31 March 2025

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 2025

Page 1

Triratna Buddhist Community (Norwich) Report of the Trustees

Year Ended 31 March 2025

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 1960 as 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 2025

Objective and Activities

The overall objective of the Triratna Buddhist Community (Norwich) is the advancement of the Buddhist Religion. In particular its aims 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 Order.
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 2025 show a small surplus in turbulent economic conditions with significant cost inflation, utilities and staffing costs; 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 31.03.2025. (£11,100 as at 31.03.24)

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 2025

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____ 2025

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 2025

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 2025, which are set out on pages 6 to 10.

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 in respect of the section 396 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;

Keep accounting records in accordance with the Charities act; and
Prepare accounts in accordance with the accounting records and comply with the accounting requirements of the Charities Act and statements of recommended practices for accounting and reporting in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102)
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 _12/09/2025_

Paul Vincent. Cadence Business Consultancy Ltd.

Triratna Buddhist Community (Norwich) Income / Expenditure Account For The Year Ended 31 March 2025

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.	2025 £ 81,759 ( 584) 81,175 (77,682) 3,493	2024 £ 73,918 ( 1,044 )
		72,874 (71,618)
		1,256

Triratna Buddhist Community (Norwich) Balance Sheet As at 31 March 2025

2025 £ £ 289,218 289,218 928 4,158 76,050 81,136 (6,705) 74,431 363,649 363,649 363,649 363,649	2025 £ £ 289,218 289,218 928 4,158 76,050 81,136 (6,705) 74,431 363,649 363,649 363,649 363,649	2024 £ £ 280,096 280,096 1,160 3,527 78,670 83,357 (3,297) 80,059 360,156 360,156 360,156 360,156	2024 £ £ 280,096 280,096 1,160 3,527 78,670 83,357 (3,297) 80,059 360,156 360,156 360,156 360,156
	289,218 74,431		280,096 80,059
81,136 (6,705)		83,357 (3,297)

	363,649		360,156
	363,649		360,156
	363,649		360,156
	363,649		360,156

Page 7

Triratna Buddhist Community (Norwich) Notes to the Financial Statements For The Year Ended 31 March 2025

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 2025

3. Tangible Assets

Cost As at 1 April 2024 Additions As at 31 March 2025 Depreciation As at 1 April 2023 Provided during the period As at 31 March 2025 Net Book Value As at 31 March 2024 As at 1 April 2025	Land & Property Freehold Devotional Objects Library Fixtures & Fittings Computer Equipment Intangible Assets Total £ £ £ £ £ £ £ 268,500 3,405 2,183 8,020 2,148 4,750 289,006 - - - 10,881 560 - 11,441
	268,500 3,405 2,183 18,901 2,708 4,750 300,447
	- - - 2,991 1,216 4,703 8,910 - - - 1,899 373 47 2,179
	- - - 4,890 1,589 4,750 11,229

	268,500 3,405 2,183 5,029 932 47 280,096

	268,500 3,405 2,183 14,011 1,119 - 289,218

4. Stocks

Stock

2025 £ 928 928	2024 £ 1,160
	1,160