2020-12-31-accounts - Triratna Buddhist Community(brighton)

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page No.
Trustees Annual Report			1to6
Independent Examiner's	Report
Statement ofFinancial Activities
(including Income and	Expenditure	Account)
Balance Sheet			10
Notes to the Financial Statements			11to 18

			Unrestricted	Restricted	Total Funds	Total Funds
		Note	Funds	Funds	2020	2019
Income from:
Donations and legacies			47,113		47,113	25,195
Other trading activities—
Activities for generating	funds
Incoming &om charitable	activities		69,183		69,183	157,147
Income &om investments			604		604
Total Incoming Resources			116900		116900	182342
Expenditure on:
Charitable activities			201489		201 489	211915
Total Expenditure			201489		201 489	211915
Net income/(expenditure)	for the
year			( 84489)		( 84,589)	( 29,573)
Transfer between funds
Net movement in funds for the year			( 84,589)		(84,589)	( 29,573)
Reconciliation ofFunds
Total funds brought forward			2~48 42S		2~48 42S	2278 001
Total funds carried forward					~~39	2224428

					2019
		Note
Fixed assets
Tangible assets Investment properties				1,022,695 637550		1,005,946 1 426 284
Total fixed assets				1,660445		2,432,230
Current assets
Stock			4/77		4,219
Debtors		10	6,021		7,574
Cash at bank and in	hand		512735		59541
Total current assets			523,033		71,334
Liabilities
Creditors: amounts falling due in less
than one year			19439		14973
Net current assets				503594			56361	.
Total assets less current liabilities				2,163,839		2,488,591
Creditors: amounts	falling due after
more than one year		12				240 163
Net assets						~22	428
Funds ofthe charity:
Restricted income funds
Unrestricted income	funds	14		2 163839		2 248 428
Total charity funds						2~4~42$

Analysis ofexpendable	Analysis ofexpendable	on	charitable	charitable	Total 2020	Total 2019
Administration and governance
Administration					11,992	10,721
Bank and Finance	Charges				1,176	779
Loan Interest					1699	10436
					~14867	21936
Other Charitable	Expenditure
Bookshop Purchases					72	1,921
Brighton Festival						108
Building Costs					9,913	22,001
Centre Costs					2,034	7,879
Teachers and Speakers						195
Depreciation					2,567	2,362
Mindfulness based approaches				costs	1@40	6,727
Miscellaneous costs					47	185
Communities costs					14,979	10,464
Order expenses					491	629
Other Events expenses					146	535
Publicity					293	2,349
Retreat costs						4,982
Staff					95,669	98,602
Training					1,426	8,028
Triratna Support					1,000	340
Yoga and Tai Chi					~5836	22 672
					135 813	189979
Exceptional Item					150,680	211,915
Loss on sale of St	James	Avenue			50809
						211 15
Net income/(expenditure)			for the year		2020	2019
This is stated after	charging/(crediting):
Depreciation Independent examination					2,567 ~99	2,362 700
Staffcosts					2020	2019
Staffcosts dmmg the year were as follows:
Wages and salaries					90,994	93,744
Social security costs					5,023	4,496
Pension costs					3,762	3,362
Employment allowance					(3,000)	( 3,000)
Training					1426	8 028
						1 6630

8.	Trustees remuneration and exp	Trustees remuneration and exp	Trustees remuneration and exp	Trustees remuneration and exp	enses and related party trans	enses and related party trans	enses and related party trans	actions	actions
	Paragraph 6.3 ofthe Constitution				ofBrighton Buddhist Centre			gives specific permission		for the charity	to employ
	Trustees. Trustees receiving			support as		employees are:
										2020	201~
	Dharmakara									17,049	14,67(
	Subhadassi									17@48	17,69&
	Dyotana (to September 2020)									~13 S1 ~628	1794( ~50 3
	Trustees received no reimbursed				expenses from		the charity.
9.	Fixed assets: tangible fixed			assets and investment properties
							Investment	Freehold	Fixtures	Library	Tota
							Properties	Land and	and
								Buildings	Fittings
	Cost/Valuation
	At 1 January 2020 Additions Disposals At 31December 2020						1,426484 12,000 ~800734 637550	1,000,000 12,000 1012000	16,160 7,316 23 476	2/41 ~241	2,444,6S' 31/if ~800 734' 167526
	Depreciation At 1 January 2020 Charge for the year								12,455 2,567		12,45' 2,56'
	Disposals At 31December	2020							15022		~1502:
	Net BookValue
	At 31December	2020
	An analysis ofthe Freehold		Land		and Buildings		is as follows:
										2020	201L
	St.James Avenue	—Valuation
	- Improvement										S00,73~
	Newport Street -Improvement	—Valuation							625,000 12550	637450	625,55(
	Tichborne Street	—Valuation - Improvement							1,000,000 12000	1012000 ~550	1 000 00( ~242 28~
	The Freehold properties were revalued					in 2016	as follows:
		Pro~erg St.James Avenue					Valuer yuetiu Lloyd		Value 800,000	Basis Open market	value witl
										vacant	possessior
		Newport Street					Justin Lloyd		625,000	Open market	value witl.
										vacant	possessior
		Tichborne	Street				Oakley		1,000,000	Open market	value witl'
										vacant	possessior

10	Debtors
.		2020	2019
	HMRC (tax for Gift Aid donations)		1,797
	P repayments Other debtors and accrued income	6021	5777 ~54
11.	Creditors: amounts falling due within one year	2020	2019
	Triodos Mortgage Other Creditors and Accruals	19,439	10,590 4,383
	Taxation and social security costs		~49 3
12.	Creditors: amounts falling due after more than one year	2020	2019
	Triodos Mortgage		240 163 24 16
	Repayable after more than 5 years by instalments		19 22

	The Triodos Mortgage was taken out to purchase St. James A property with a fixed interest rate of4.072%. The mortgage was Avenue.	The Triodos Mortgage was taken out to purchase St. James A property with a fixed interest rate of4.072%. The mortgage was Avenue.	The Triodos Mortgage was taken out to purchase St. James A property with a fixed interest rate of4.072%. The mortgage was Avenue.	venue and the mortgage is secured on the repaid in full following the sale ofSt.James	venue and the mortgage is secured on the repaid in full following the sale ofSt.James	venue and the mortgage is secured on the repaid in full following the sale ofSt.James
	Financial instruments measured at amortised cost comprise the			loan finance provided by Triodos bank to
	the charity.				2020	2019
	Loan payable Loan payable Loan payable	falling due within one year falling due in more than one year but in less than falling due after five years		five years		10,590 46,940 193223
13.	Analysis ofmovement in unrestricted funds As at		Income	Expenditure	Transfers	As at
		1Jan.2020				31Dec.2020
	Unrestricted	Funds
	General fund Revaluation	reserve 687,462 1560966 ~428	116,900 ~900	(201,489) %%5	602,660 ~602 660	1405,533 ~950 06 ~@99

13.	Analysis ofmovement	in unrestricted As at 1 Jan.2019	funds —continued Prior Year Income Adjustment	Expenditure	Transfers	As at 31Dec.2019
	Unrestricted funds General fund Revaluation reserve	717,035 1 560 966 2~27 0 1	182,342 152~42	(211,915) (2~11 1+		687,462 1 560 966 ~248 42
14.	Analysis ofnet assets	between funds	General	Revaluation	Restricted	Total
			Fund	Reserve	Funds
	Tangible fixed assets Net current assets/(liabilities)		701,939 503,594	958406		1,660,245 503,594
	Creditors after more than one year
	Total